Products · Trading
How trading & liquidity work
The USDC pool, odds, Market vs Limit, and the order book.
At a glance
Shared USDC pool — traders provide liquidity, not creators. Market = pool buy; Limit = resting quote on the book. Market orders do not auto-fill against limits.
Quick tip
Trade panel ℹ on USDC markets repeats the 1 USDC ≈ 1 share rule. Empty book? Market mode still works.
Bullymarket prediction markets use a shared USDC pool — sometimes called a parimutuel pool. Traders buy Yes or No shares with USDC; that USDC sits in the market vault until resolution. When the event settles, winning shares redeem from the full pool. There is no separate creator seed deposit — liquidity comes from people trading.
The pool in plain terms
- 1 USDC buys roughly 1 share on supported on-chain markets (before fees).
- Card odds (the % on Yes/No) reflect how much USDC is staked on each side — not a fixed price from a market maker.
- Winners split the entire pool at resolution; losing shares expire worthless.
- You can sell back into the pool before resolution if the market is still open and you hold shares.
Creators vs traders
| Who | Pays | Provides trading liquidity? |
|---|---|---|
| Market creator | Listing fee (~$10 USDC or SOL equivalent) | No — listing fee goes to protocol, not the pool |
| Traders | USDC when buying shares | Yes — every buy adds depth to the pool |
| Reward sponsors | Optional SOL budget (gift icon) | No — incentives for limit-order makers, not trade collateral |
Market vs Limit
The trade panel on each market detail page has two modes. They behave differently — pick the one that matches your intent.
| Mode | What it does | Best for |
|---|---|---|
| Market | Buys or sells directly into the USDC pool at current implied odds | Quick entry or exit; works even when the order book is empty |
| Limit | Posts a resting bid or ask at your chosen price (in cents) | Specific entry price, maker rewards, or providing quotes to others |
The order book
On markets with a book enabled, the detail page shows bid and ask depth. The book is for limit orders: resting quotes, partial fills, and cancellation from Portfolio or the book tab. It helps price discovery and powers maker reward eligibility — it is not a separate liquidity pool from the USDC vault.
- Place limits from the trade panel (Market → Limit toggle).
- View depth on the market detail book tab.
- Cancel open limits from Portfolio or the book row.
- Resting limits near the midpoint may qualify for market reward pools — see Market rewards in Docs.
Where to see pool info in the app
On supported USDC markets, the trade panel includes a pool info control (ℹ) explaining that 1 USDC ≈ 1 share and winners split the pool at resolution. Check Rules before trading and Portfolio after your transaction confirms.