AMM & pricing

Prices come from a constant-product market maker over the YES and NO reserves. The implied probability of YES is simply its share of the pool:

price(YES) = noReserve / (yesReserve + noReserve)

Buying YES removes YES tokens from the pool and adds USDC-backed NO, pushing the YES price up and the NO price down — exactly mirroring how new information should move the odds. Each quote is available onchain through quoteYes and quoteNo, and every buy accepts a minOut for slippage protection.