How OpenOmen Works
OpenOmen is a decentralized prediction market protocol on Solana. Anyone can create a market, trade YES/NO positions with USDC, and earn payouts based on real-world outcomes. All funds are held in on-chain smart contracts — fully non-custodial.
Overview#
OpenOmen enables peer-to-peer prediction markets. A market poses a binary YES/NO question about a future event. Users stake USDC on their predicted outcome. When the event resolves, winners split the total pool proportionally.
Getting Started#
You need a Solana wallet and some USDC to start trading. No registration or email required.
Trading (Buy YES / NO)#
Each market has a YES pool and a NO pool. When you buy a position, your USDC goes into the corresponding pool. The displayed percentage reflects the proportion of funds on each side — it is not a price.
How Payouts Work
If the outcome you chose wins, you receive a share of the entire pool (YES + NO combined), proportional to your contribution to the winning side. The more you stake relative to other winners, the larger your payout.
A market has $600 YES and $400 NO. Total pool = $1,000.
You bought $100 YES (you own 100/600 = 16.7% of the YES pool).
If YES wins in a market using the 1.2% creator tier: after fees, the payout base is $980. Your share = 16.7% × $980 = ~$163. (Platform fee is 0.8% and creator fee depends on the selected tier: 1.2%, 2.2%, 3.2%, 4.2%, or 5.2%. In highly one-sided markets, actual fees may be lower to ensure winners receive at least their original deposit.)
Net profit: +$63 on a $100 position.
Important Notes
- You can buy both YES and NO on the same market (hedging).
- Positions are final — there is no selling or secondary trading.
- Trading closes at the time specified by the market creator. No new positions are accepted after that.
- Minimum position: 1 USDC.
Creating a Market#
Anyone with a connected wallet can create a prediction market. Navigate to Create to get started.
Fields
What Happens When You Create
- Market metadata is pinned to IPFS for immutability.
- A Solana transaction is sent to initialize the on-chain market (pool + vault accounts).
- You pay a small amount of SOL for account creation rent (~0.02 SOL).
- The market goes live and appears on the homepage after indexer sync (typically within seconds).
Creator Responsibility: As a market creator, you are responsible for resolving the market honestly before the deadline. You earn the market's selected creator fee tier at settlement. Supported tiers are 1.2%, 2.2%, 3.2%, 4.2%, and 5.2%. Fees are capped by the losing side's pool to protect winners.
Market Resolution#
After trading closes, the market enters the Resolution Phase. The creator must submit the outcome (YES or NO) before the resolution deadline.
Resolution Flow
What If the Creator Doesn't Resolve?
If the resolution deadline passes without the creator submitting an outcome, refund rules apply. All participants can claim their full deposits back with no fees deducted.
This is enforced at the smart contract level. On Solana, state changes are transaction-triggered, so the market is written to Refund when a subsequent claim/resolve transaction touches the expired market.
Claiming Payouts & Refunds#
After a market resolves (or enters Refund), you must claim your payout manually. Navigate to the Portfolio → Claimable tab or return to the market detail page.
Click "Claim" to receive your proportional share of the payout base. USDC is sent directly to your wallet.
Click "Close Position" to reclaim the small amount of SOL rent locked in your position account. Your USDC deposit is not returned — it was distributed to winners.
Click "Claim Refund" to receive your full deposit back. No fees are deducted in refund mode.
A green pulsing dot () appears next to "Portfolio" in the navigation when you have unclaimed payouts.
Fee Structure#
Fees are only charged when a market is successfully resolved. There are no fees on entry (buying positions) and no fees on refunds.
| Fee | Rate | When |
|---|---|---|
| Platform Fee | Up to 0.8% | Deducted from total pool at resolution |
| Creator Fee | 1.2% / 2.2% / 3.2% / 4.2% / 5.2% | Paid to market creator at resolution |
| Position Entry | 0% | No fee when buying YES or NO |
| Refund | 0% | Full deposit returned, no deduction |
Winner Protection: Total fees (platform + creator) are capped by the losing side's pool. This guarantees that winners always receive at least their original deposit. In highly one-sided markets, actual fees may be lower than the nominal 0.8% + selected creator tier.
Additionally, standard Solana network transaction fees (~0.000005 SOL per tx) apply to all on-chain actions.
Portfolio & Stats#
The Portfolio page shows your complete trading activity.
Wallet address pages are public. You can view any wallet's trading history by searching their Solana address in the search bar, or by navigating to /address/<address>.
Frequently Asked Questions#
Is my money safe?
All funds are held in on-chain Solana smart contracts (program-derived vaults). OpenOmen never has custody of your assets. However, smart contracts are experimental technology — use at your own risk and only trade what you can afford to lose.
Can I cancel a position?
No. Once you buy a YES or NO position, it is final. There is no secondary market or sell function. You can only receive funds back through resolution payout or refund.
What happens if the creator resolves incorrectly?
Resolution is final once confirmed on-chain. OpenOmen does not provide dispute arbitration. We recommend trading on markets created by reputable addresses. You can follow trusted creators using the ★ button.
What currency is used?
All markets use USDC (SPL token on Solana). You also need a small amount of SOL for transaction fees.
Is there a minimum or maximum position size?
Minimum: 1 USDC. There is no maximum — you can trade as much as you're comfortable with.
Which wallets are supported?
Any Solana wallet that supports the Wallet Adapter standard works with OpenOmen.
Where can I see my transaction history?
All on-chain transactions are visible on Solana Explorer. Each market page also shows a link to the deploy and resolution transactions.