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Trading on Morfi is simple: you find a debate you have a view on, back the outcome you think will win, and manage your position as the market moves. Every outcome has its own live price that shifts as people trade — buying pushes it up, selling pushes it down.

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How trading works

Pick a debate and an outcome

Every market is a live debate with a few outcomes. Choose the one you think will win.

Back it at its live price

Buy in at the outcome’s current price. The price moves as people trade, so the more money flows onto a side, the higher its price climbs.

Add or cash out any time

Change your mind, or want more? Add to your position or sell some — or all — of it whenever you like. Nothing is locked in until the market agrees on a winner.

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Your holdings value

Once you’re in a position, your holdings value is a live estimate of what you’d get if you sold right now — roughly your balance times the current price. It updates in real time, moving with every trade in the market. There’s nothing to refresh — as prices climb or fall, the number you see climbs or falls with them.
Your holdings value is an estimate. The real sale price can differ slightly as the market moves between the moment you see a quote and the moment your sale goes through.

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Price protection

When you sell, Morfi protects you from sudden moves. You set a limit, and if the price slips past that limit before your sale goes through, the sale is automatically cancelled — so you’re never forced through at a worse price than you agreed to. You can simply try again.

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A worked example

Leyla is following an Oscars market and thinks one film has Best Picture locked up. She backs that outcome at its live price. As more people pile onto the same side, its price climbs — and her holdings value climbs with it, updating live on her screen. Later she decides to take some off the table, so she sells part of her position. Because the price has been swinging, she keeps her limit tight; one of her sells gets auto-cancelled when the price ticks the wrong way, so she just tries again a moment later and it goes through.
When one outcome holds the lead long enough, the market agrees and locks in the winner. If you’re on the winning side, you claim your share of the prize pool — and the winning side then becomes its own tradable token you can keep holding.
Yes. Prices move freely and can fall as well as rise, and if your outcome doesn’t win, your stake funds the payout for those who did. Only back what you’re comfortable losing.

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Keep reading

How prices work

Why an outcome’s price moves, and what it really tells you.

Claiming your share

What happens when your side wins, and how you get paid.