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RuneMarket Overview

RuneMarket lets users trade opinions about future Old School RuneScape events. Every market has two fungible outcome tokens:

  • YES, representing the position that the market's statement will resolve as true.
  • NO, representing the position that the market's statement will resolve as false.

Users can buy or sell either outcome, place resting limit orders, or create matched YES and NO token pairs by depositing the market's USDC payment token.

What makes a market verifiable​

Each market records three defining strings onchain when it is created:

  • the exact market question;
  • the source used to evaluate the outcome; and
  • additional information containing the market's detailed resolution rules.

These strings establish the meaning of the market. Offchain titles, categories, images, and summaries may make a market easier to discover, but they do not override its onchain definition.

Collateral and outcome tokens​

Each market uses a configured ERC-20 USDC payment token as collateral. Depositing one whole USDC payment token creates one whole YES token and one whole NO token, subject to the market's supply cap and token precision.

YES and NO tokens use 18 decimals. The USDC payment token and its decimals are determined by the production deployment and must be read from the market or verified deployment configuration.

Trading and pricing​

RuneMarket uses two Uniswap v4 pools per market:

  • YES paired with the USDC payment token; and
  • NO paired with the USDC payment token.

These pools allow the two outcomes to trade independently. A displayed probability is an interpretation of market prices, not an oracle result or a guarantee of the final outcome.

RuneMarket also supports resting limit orders through its Order Manager. An instant swap and a limit order are different transactions: an instant swap seeks immediate execution, while a limit order waits for its configured price condition.

Resolution​

After trading ends, anyone may propose YES, NO, or CANCELED as the result by posting the market's resolver bond. If the proposal is not disputed during the first challenge period, it becomes final.

If challenged, the Oracle Council reviews the dispute. A Council decision that selects or preserves an outcome receives a second challenge period. A Council reset may either reopen resolution immediately or enter that second period, depending on the Council's bond-treatment decision. During an available second challenge period, a participant may post a larger escalation bond, after which an external proposal determines the result and an authorized RuneMarket operator submits it onchain. The RuneMarket development team currently holds this operator responsibility.

RuneMarket has no governance token. Token-holder voting and attester arbitration are not part of the current protocol.

Settlement​

When a market finalizes as YES or NO, each whole winning token can be redeemed for one whole USDC payment token. Losing tokens have no redemption value.

When a market finalizes as CANCELED, every YES and NO token can be withdrawn at half of one USDC payment token per token. This treats a complete YES/NO pair as one whole USDC payment token.