How it
works

Launch

Launch a coin on pons from your own wallet. You're the deployer and you keep the creator fees. Once it's live it's on the board.

Open a market

Anyone can open a market on any coin by picking three things: the coin, a multiple (2x) and a time (1h). The question is always the same: will the price be at least that multiple of what it is now when the time is up? Opening a market is free. If the same three picks already have a market taking stakes, you join that one.

Stake YES or NO

Stakes are in USDG and all go into one pot. The number next to YES and NO is what that side would pay per dollar if the pot closed as it stands, so it moves as people stake. Stakes are taken for the first half of a market's life, then the pot is locked until the deadline.

You send the stake to the treasury from your wallet and it's booked when the transfer confirms. If anything is off (the pot locked, the hold expired), the full amount is refunded automatically.

The price at the deadline

The price is read off the pons bonding curve and averaged over the final 2 minutes, so a single wick can't decide a market. At or above the target is YES; below is NO. The winning side splits the pot in proportion to stake, after a 2% rake. The rake is never more than the losing side put in, so a winner always gets at least their stake back. If the price can't be read at the deadline, the market is void and every stake is returned.

Parlays

Put two or three markets, each on a different coin, on one slip. Your stake is split evenly across those pots and the slip gets a locked multiplier, up to 50x. Every leg has to win. If they all do, you're paid stake × the multiplier: the pots pay their share first and the treasury adds the rest. If one leg misses, the slip is lost. A voided leg just drops out of the slip.

The treasury also puts a little of its own money on the thin side of a quiet pot, so a lone stake has something to win. What the treasury can have at risk is capped per market, per coin and overall. When a cap is reached, plain pot bets carry on and parlays pause.