Binary outcomes
Every Signal market resolves to either YES or NO. Examples:
- Will Arsenal beat Man City this weekend?
- Will Erling Haaland score 25+ league goals this season?
- Will both teams score in the North London Derby?
Shares and payouts
You don't place a bet — you buy shares of the outcome you think will happen. Each share settles for exactly $1 if you're right and $0if you're wrong.
Because YES + NO must sum to $1 at resolution, share prices always live between 0 and 1. A price of 0.62 means the market thinks the outcome is 62% likely, and a YES share costs $0.62.
The order book
Under the hood, Signal runs a central limit order book (CLOB) for every market. You can either:
- Take — buy at the best available price right now
- Make — post a limit order at your own price and wait for a fill
Limit orders are signed with EIP-712 and live off-chain until they match. There is no gas cost for posting or cancelling an order.
Exiting early
You don't have to wait for resolution. You can sell your shares back into the order book at any time — that's how you take profit on a position whose price has moved in your favour, or cut a position whose price has moved against you.
NegRisk groups
Some markets belong to a NegRisk group— a set of mutually exclusive outcomes where exactly one must happen (e.g. "Which team wins the league?" with 20 candidates). Inside a group, share prices across all outcomes sum to $1, and the resolution settles all of them simultaneously.