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Morfi is meant to be fun, but it involves real choices about money. This page pulls together the things worth understanding before you trade.

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Prices can swing both ways

When a market resolves, the winning side graduates into its own tradable token — and from that point its price moves freely.
A graduated winner’s price can fall as well as rise. A past win doesn’t promise a future price. Only put in what you’re comfortable losing, and treat it like any other wager — the value of what you hold can go down.

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Today it’s a test network

Morfi is in public beta on a test network right now.
You trade with free test funds, so nothing you put in is real money today. Markets reset from time to time, which means balances and positions don’t carry over forever. It’s the place to learn how everything works at no cost.
Real-money trading arrives with mainnet, which launches once an independent security review passes.

Public beta — live now

Trade with free test funds today. Markets reset from time to time.

Security review — in progress

Independent experts are reviewing everything. We won’t launch real money until it passes.

Mainnet launch — coming

Real markets, real money — the day the review passes.

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How your value is shown

The value next to your holdings is a live estimate of what you’d get if you sold right now.
It’s your balance at the current price. Because the market keeps moving, the amount you actually receive when you sell can differ slightly from the estimate shown a moment earlier. A sell is also auto-cancelled if the price moves past your limit before it goes through, so you’re never caught out by a sudden swing.

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Want more detail?

You’re putting money behind an opinion and the outcome is uncertain — treat it that way. Only play with funds you’re comfortable losing.
No. The test network is for learning. Markets reset from time to time, and real-money mainnet starts fresh once the security review passes.
The estimate is taken at the current price, but the market keeps moving between the moment you see it and the moment your sale goes through. The difference is usually small, and your limit protects you from large swings.

Graduation

How a winning side becomes a freely-priced token after a market resolves.

FAQ

Quick answers to the most common questions about Morfi.