Platform · Binary Markets
Ride Markets
Trade conviction: someone calls a trade, the crowd backs YES or NO, and the call directs the fund's treasury to actually place it.
- Mechanism
- Binary Markets
- Chain
- Solana
- Status
- Live (Solana; conviction markets opened April 2026)
- Founded
- 2026
- Market types
- Binary (YES/NO parimutuel) · Conviction / capital-allocation · Leveraged conviction (no liquidation)
- Audience
- Crypto-native · Quant · Power user
- Website
- www.ride.markets
- @ridemarkets
Pricing mechanism
Parimutuel binary markets on price calls (e.g. 'SOL hits $250 in 3 days'). The crowd stakes YES/NO; winners split the losers' pool, weighted by stake size and earliness (early-bird multiplier up to 2.5x). Crucially, posting a call also places a real order on the fund treasury's books (limit order or instant swap), so a call directs capital rather than only predicting.
Settlement
Two pools settle simultaneously on resolution: (1) the position pool - winning side splits the losing side, 99% to winners / 1% fund rake from the losing side only; (2) the trade profit - if the treasury's trade landed, 30% goes to the caller as a performance tip, 70% stays in the fund treasury. No ties (target hit by deadline = YES, else NO). Funds locked in a Solana smart contract; built on Realms governance.
Strengths
- Genuinely novel 'conviction market': a call directs the fund treasury's real on-chain trade, so callers direct capital and earn 30% of trade profit - pay-for-performance like a market-maker, not a fixed fee
- Leverage without liquidation: stake an ~$8 bond, treasury fronts a ~$130 position (~16x), no funding rate, no margin calls, only the bond at risk
- Per-fund token flywheel: every position is denominated in the fund's coin (USDC auto-swapped via Jupiter), generating sustained organic buy pressure - 'a trading venue that only accepts your token'; any project with a token + treasury can launch a fund
- Early-bird multiplier (up to 2.5x) rewards conviction taken when the outcome was still risky; built on Solana + Realms for trustless settlement
Weaknesses
- Complex three-sided model (caller / crowd / treasury) and two-pool settlement is hard to explain vs a plain yes/no market
- Treasury-directed trading concentrates risk in the fund's coin and treasury health; a run of losing calls shrinks the treasury
- No public funding, team, or traction numbers; token-flywheel framing risks attracting volume-farming over genuine forecasting signal
- Unproven at scale; conviction-market primitive has no established comparables
About this mechanism
Yes/No or multi-outcome shares priced via AMM or CLOB. The largest category by platform count · the volume of onchain competition for what most people picture when they hear 'prediction market'.