# What is Probly?

## Overview

**Probly — before it happens.** Trade real-world outcomes by buying **YES** or **NO** shares on a question. Prices reflect the market's view of how likely each side is to win.

> Buy **YES** at **15¢** on *"Will BTC reach $100k this week?"* The price implies a **15% chance**. If it happens, each share redeems for **$1.00** — turning **$0.15** into **$1.00** (**$0.85 profit** per share). If not, the shares settle at **$0**.

## How a Share Works

Every market asks a yes/no question. You can buy two things:

* A **YES share** — worth **$1.00** if the event happens, **$0** if not
* A **NO share** — worth **$1.00** if the event doesn't happen, **$0** if it does

Since exactly one side will be right, **1 YES + 1 NO = $1.00** at all times.

<figure><picture><source srcset="/files/KvzVMRePHpM4tMBYDnvz" media="(prefers-color-scheme: dark)"><img src="/files/NuoNah9WVX6VBvp042Up" alt=""></picture><figcaption></figcaption></figure>

Three rules follow from this:

* **YES price + NO price ≈ $1.00.** YES at 60¢ ⇒ NO ≈ 40¢.
* **Price = implied probability.** YES at 60¢ ⇒ the market sees a **60% chance**.
* **Prices stay between 1¢ and 99¢** — closer to 99¢ means more likely; closer to 1¢ means less.

<figure><picture><source srcset="/files/iaAYf1LiMpugAUCgva6q" media="(prefers-color-scheme: dark)"><img src="/files/fCpUl7z8Z93ASo1RpE5s" alt=""></picture><figcaption></figcaption></figure>

## How Trading Works

1. **Pick a market** — Crypto, sports, politics, and more.
2. **Buy YES or NO** at the current price.
3. **Hold or sell early** — Sell anytime before the deadline to lock in profit or cut losses.
4. **Settle automatically** — At resolution, winning shares pay **$1.00** and losing shares go to **$0**. USDC lands in your account; no claim step needed.

## At a Glance

|                       |                                                                  |
| --------------------- | ---------------------------------------------------------------- |
| **Collateral**        | USDC                                                             |
| **Share price range** | **1¢ – 99¢** ($0.01 – $0.99)                                     |
| **Payout on win**     | $1.00 per share                                                  |
| **Payout on loss**    | $0 per share                                                     |
| **Market cycles**     | 5-minute, 15-minute, hourly, daily, weekly, and long-form events |

## Where to Next

* [Making Your First Trade](/get-started/first-trade.md) — Get trading in minutes.
* [Trading Overview](/markets-and-trading/overview.md) — How the order book works.

## Join the Community

Chat with traders and the Probly team on [Discord](https://discord.gg/yesorno) or [Twitter](https://twitter.com/yesorno).

Need help? Use the **support** channel in the footer at [probly.com](https://probly.com), or reach out at **<support@probly.com>**.


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