Cyphers supports two market types. Pick the one that fits the shape of your question.
YesNo - Two sides: YES and NO. Use for any binary question.
MultiOutcome - Two to four named options. Use for mutually exclusive outcomes.
Which to use
| Question shape | Use |
|---|---|
| Yes-or-no answer | YesNo |
| 2-4 named, mutually exclusive options | MultiOutcome |
| More than 4 options | Not supported today |
| Numeric prediction (exact price) | Not supported today |
When in doubt, prefer YesNo. Binary markets attract more bettors because the interface is simpler - one button per side.
How odds work
Each side has its own pool - the total USDC bet on that option. The odds you see come from the pool ratios, and they're locked in for your position the moment your bet lands.
For the full formula and a worked example, see Fees and odds.
What's next
- Fees and odds - how pool ratios turn into payouts.
- Create a market - open your own market.
- Market lifecycle - the phases every market goes through.