Introduction
POP turns any real-world question into a live, onchain prediction market. This guide explains how markets are priced, how to trade and provide liquidity, and how outcomes are resolved. It is written for both traders and developers integrating the protocol.
A POP market is a binary market: every question resolves to either YES or NO. Each market is an independent smart contract that mints two outcome tokens, holds an automated market maker (AMM) for them, and pays out in 
USDC once the result is known.
The core idea
When a market is created, the initiator seeds it with USDC. That collateral mints an equal number of YES and NO tokens, which are deposited into a constant-product pool. Traders buy the side they believe in; the AMM adjusts the price along the curve as one side is bought up.
Because YES and NO are always backed 1:1 by collateral, holding one YES and one NO is always worth exactly 1 USDC. This invariant is what lets the AMM quote a fair, self-balancing price and what guarantees winners can be paid at settlement.
No counterparty to match
Unlike an order book, there is no counterparty to find. You always trade against a shared liquidity pool, so a market can be created and traded instantly — there is no waiting for a maker on the other side, and no half-filled orders.
How POP compares
POP markets are CPMM AMM markets — distinct from a traditional order book and from the earlier parimutuel style of prediction market.
| POP AMM | Order book | Parimutuel pool | |
|---|---|---|---|
| Liquidity at launch | ✅ Instant, from the pool | ❌ Needs makers | ⚠️ Grows as bets arrive |
| Live price | Continuous AMM quote | Best bid/ask | Only the final split |
| Exit before resolution | ✅ Sell or redeem any time | Depends on book depth | ❌ Usually locked in |
| Who you trade against | A shared pool | A counterparty | The other bettors |
| Earn while providing capital | ✅ LP swap fees | Maker rebates | — |
The numbers behind the curve
Want the exact math? See AMM & pricing for the constant-product formula and a step-by-step buy/sell walkthrough, and Providing liquidity & fees for how LP shares and fees accrue.
Where to next
- Outcome tokens — the YES and NO tokens and the 1:1 invariant.
- AMM & pricing — how price and implied probability are computed.
- Market lifecycle — Open → Locked → Settled.
- Trading guide — the actions on the market page.