> ## Documentation Index
> Fetch the complete documentation index at: https://docs.outcome.xyz/llms.txt
> Use this file to discover all available pages before exploring further.

# Outcome: an on-chain prediction market on Hyperliquid

**Outcome is a prediction market.** You take a position on whether something will happen. For example: *will Bitcoin be above \$80,000 at 06:00 UTC tomorrow*? The price you pay reflects the market's implied probability that it will. A price of 40 cents means the market is collectively pricing the event at 40% likely. Prices move continuously between 0.001 cents and 99.999 cents while the market is open, then settle to exactly 1 USDC if the event happened or 0 if it didn't.

<div className="hero-frame">
  <img src="https://mintcdn.com/outcomelabs/gaT8AKC8_YNpwh_E/images/landing-animation.svg?fit=max&auto=format&n=gaT8AKC8_YNpwh_E&q=85&s=7d1ee53189b86f250011db5432bf018d" alt="Outcome prediction market lifecycle: a question becomes two opposing tokens trading between 0 and 1 USDC, then settles to 1 USDH for the winning side and 0 for the other." width="1124" height="694" data-path="images/landing-animation.svg" />
</div>

### A simple example

You buy 100 YES tokens at 40 cents each, paying 40 USDC in total. When the market resolves, one of two things happens:

* The event occurs → your tokens settle at 1 USDC each → your 100 tokens are worth 100 USDC.
* The event does not occur → your tokens settle at 0 → your 100 tokens are worth 0 USDC.

That's the whole payoff structure. There is no leverage, no liquidations, no margin calls. The most you can lose on any position is what you paid to open it.

### Common use cases

**Express a view on a specific event.** Buy the outcome you think will happen. Your downside is capped at what you paid, with nothing to manage after the position is open.

**Hedge an existing position.** If you own BTC, buying NO on a market like "will BTC be above \$80,000 by tomorrow" gives you protection against a short-term move down. The cost is capped at what you pay for the NO position, with no margin to maintain.

### Get started

Head to [Getting Started](#) to connect a wallet, fund your account, and place your first trade. Or go directly to [outcome.xyz](https://outcome.xyz/) to see what's currently live.