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A quick reference for every term that appears in the docs or the app. Each one gets a plain-language definition and a quick example.

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Markets

A live debate with a few outcomes, where the winner is decided by which outcome the crowd backs with the most money — not by a real-world result. Example: a “Best picture of the year” market where each nominee is an outcome you can back.
One of the choices in a market. Each outcome has its own price, its own chart, and its own community. You back the one you think will win. Example: in an F1 market, Verstappen and Norris are each an outcome.
What an outcome costs right now. Buying an outcome pushes its price up; selling pushes it down. Example: as more people back Verstappen, his price climbs. See how prices work.
The point where one outcome holds a clear lead long enough that the market agrees on a winner. Example: Verstappen’s outcome holds the lead, the market agrees, and the debate is decided.

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Trading

Putting money behind an outcome you believe will win. Example: Mia backs Norris because she thinks his side will hold the lead.
What you currently hold in a market — the outcome you’ve backed and how much of it. You can add to it or cash out any time. Example: Mia’s position is a stake on the Norris outcome.
A live estimate of what you’d get if you sold your position right now. It moves with the market in real time. Example: as Norris’s price rises, Mia’s holdings value rises with it.

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How it resolves

The moment a market agrees on a winner and locks it in. There’s no referee, no judge, no admin — the market itself decides. Example: once one nominee’s side holds a dominant lead long enough, the market resolves in its favour. See resolution.
The pot that pays out winners. A small fee on every trade fills it, and losing stakes feed it too. Example: every buy and sell in the market adds a little to the prize pool.
A share of a live market’s trading fees that goes to the people who backed its proposal early. Example: Leo backs a proposal before it goes live, and earns a slice of every trade once it does. See backer rewards.

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Winners & graduation

When a market resolves, the winning outcome “graduates” into its own standalone token with its own live price. Example: the winning F1 outcome graduates and opens for trading on its own. See graduation.
The tradable token a winning outcome becomes after graduation — tradable on Morfi and on other apps. Example: Mia keeps her stake in the graduated token and sells later when the price climbs.
The page that ranks graduated winners by trend, volume and gainers, so you can spot the movers. Example: a freshly graduated token climbs Winners as outside traders pile in. See Winners.

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Creating & backing

A market that doesn’t exist yet. Anyone can propose a debate, and the community backs it to bring it to life. Example: someone proposes a “Best burger chain” debate and asks friends to back it. See the Launchpad.
Where proposals live before they go live. Back the ones you want to see — once enough people back one, it opens for trading automatically. Example: a brand-war proposal hits its goal on the Launchpad and goes live on its own. See the Launchpad.
A quality score — Good, Medium, or Bad — based on how well a proposal is put together, not how much it’s raised. Example: a clear proposal with distinct outcomes and a cover image rates Good before it raises a cent.

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Gifting & referrals

Value you send to anyone by their handle. It’s held safely until they claim it, and you can claw it back if they haven’t. Example: Ava gifts a friend by their handle; it waits under their name until they sign in and claim it. See gifting.
Your invite link. Share it, and when friends sign up and trade you earn a share of their fees — across two tiers. Example: Sam shares his link, his friends trade, and Sam earns a slice automatically. See referrals.

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Modes

The way to play today — free test funds, real mechanics, no real money. Markets reset from time to time. Example: you back an outcome in demo mode to learn the flow before mainnet.
Morfi with real markets and real money, launching once the security review passes. Example: when mainnet opens, the same flow you learned in demo mode runs with real stakes. See safety and risk.