For Traders#
Task-oriented guides for trading on Seesaw. For the underlying mechanics (order book, oracle, settlement), see How It Works.
Before you trade, read this: after a market resolves you have 7 days to claim your winnings. Abandoned funds can be permanently forfeited. Full details in Risks and Claiming Winnings.
In this section#
| Page | What it covers |
|---|---|
| Understanding Shares | YES/NO share mechanics, pricing, P&L |
| Placing Orders | Order types, tick rounding, price band, fees |
| Managing Positions | Cancelling, monitoring, adjusting |
| Claiming Winnings | Settlement, the 7-day rule, payouts |
| Creating Markets | Launch your own market, earn creator fees |
| Referrals and Fees | Fee curve, 50/10/40 split, referral earnings |
| Risks | Everything that can go wrong — read once |
Advanced topics#
| Page | What it covers |
|---|---|
| Market Making | Two-sided liquidity, post-only, spread capture |
| Automation | Permissionless cranks, keeper rewards, bots |
Quick start#
1. Choose a side#
- YES — you think the asset price will be higher at the end of the window than at the start.
- NO — you think it will be lower.
Prices are in basis points (bps). 6000 bps = 60% implied probability. YES price + NO price always equals 10000 bps ($1).
2. Place an order#
Three order modes: Limit (fill now, rest remainder), Post-Only (rest only, reject if would fill), IOC (fill now, cancel remainder).
Makers pay no fee. Takers pay up to 2% at coin-flip prices, sliding toward zero at confident prices.
3. Wait for resolution#
Markets settle automatically via permissionless cranks — anyone can trigger them and earn a small SOL reward. You don't need to do anything until the market resolves.
4. Claim your winnings#
Open the Portfolio tab, find your position, tap Claim. One transaction pays your winning shares and returns any unfilled buy-order collateral.
Do this within 7 days of resolution.
| Share type | If UP | If DOWN | If Expired (oracle outage) |
|---|---|---|---|
| YES | 1 USDT | 0 USDT | 0.50 USDT |
| NO | 0 USDT | 1 USDT | 0.50 USDT |
Example trade#
| Step | Action | Result |
|---|---|---|
| 1 | Buy 100 YES @ 6000 bps | Pay 60 USDT |
| 2 | Market resolves UP | YES wins |
| 3 | Claim winnings | Receive 100 USDT |
| Profit | +40 USDT (+67%) |
Key concepts#
| Concept | Where to learn more |
|---|---|
| YES / NO shares | Understanding Shares |
| Basis points (bps) | Understanding Shares |
| Order types | Placing Orders |
| Market lifecycle | How It Works |
| Fee curve | Referrals and Fees |
Important links#
- How funds flow through the protocol
- How slippage and fill preview work
- Risks — the one page everyone should read before trading