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Three ways to take a position

Priced from both sides.

BackQ4 2026ChallengeQ4 2026Doubt · auctionsQ2 2027

A guarantee is only worth what someone will sell it for. Every promise here can be backed, doubted, or challenged — so the price reflects belief and doubt together, not one side's opinion.

The coverage book

Coverage offered and doubt bid meet at each fee level, and the market clears at the lowest fee that fills. Every winner is paid the clearing rate, so honest bidding wins.

← COVERAGE OFFEREDFEEDOUBT BID →
22263038424634
CLEARS AT 34 BPSwhere the two sides balanceevery winner paid the clearing rate

The positions

Back
Join a coverage pool. Earn the fee on every job done right; pay when one goes wrong.
You are long on the workers.
Doubt
Take the other side. Pay the going fee; get paid when a protocol fails more than its price says.
If the market looks too confident, doubt is how you say it with money.
!
Challenge
Spot one bad call. Post a bond against a specific verdict; if it is overturned, the judge's deposit pays you.
A wrong challenge loses the bond.
THE ARSON RULE  ·  doubt is capped below the deposits already at stake, so causing a failure always costs more than doubting it can ever pay

Numbers are illustrative, not a rate card.

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