Synthetic Markets
Synthetic Markets are short-lived tokens with their own generated price charts, created by users and traded on Catapult around the clock, with spot buys or with leverage long and short.
The price of a Synthetic token does not follow any real asset. Its whole price path is committed by a public hash before trading starts, and you can verify it after the token ends: see Provably fair charts.
How it works
- Lifetime. Each token lives for a fixed time set by its speed mode, from minutes to hours. The mode is picked at creation and never changes.
- Modes. Five speed modes set the lifetime, the maximum leverage and the maintenance margin that places the liquidation price.
- Spot or leverage. A spot buy has no leverage and is never liquidated. A leveraged long or short is larger than the money you put in and has a liquidation price.
- Fills. Every trade fills at once at the current price. There is no order book.
- Expiry close. When the lifetime ends, every open position, spot and leveraged, is closed at the last price with the normal close fee and profit fee.
- Fees. A trade fee to open and to close, and a profit fee on a winning trade. See Fees.
- Creators. Any logged-in user can create a token. A public token pays its creator half of the trade fee on every trade (Creator earnings), and the creator can buy boosters that raise the points traders earn on it.
Your first $10 spot buy pays a $0.10 fee and puts $9.90 into the position. To trade from code, see Developers.
FAQ
Is a Synthetic token a real crypto asset? No. It exists only inside Catapult. You cannot withdraw it; you sell it for dollars in your balance.
Can I trade a token after it expires? No. You can still open its page to see the chart and your closed positions.
Do I need a wallet? No. You trade with your Catapult balance.