> ## Documentation Index
> Fetch the complete documentation index at: https://docs.ezpz.fi/llms.txt
> Use this file to discover all available pages before exploring further.

# Trading overview

> How predictions work on ezpz.fi end to end.

## Custodial trading

ezpz.fi uses a **custodial-first** model:

1. You sign in with your Solana wallet once.
2. The platform holds a custodial keypair linked to your account.
3. When you confirm a prediction in the UI, the platform submits the on-chain transaction — no wallet popup per trade.

This keeps the experience fast while settlement remains on Solana.

<Note>
  ezpz.fi does not offer a public API. All trading happens through the web app at [ezpz.fi](https://ezpz.fi).
</Note>

## Single predictions vs parlays

| Type                  | Funding source            | How odds work                |
| --------------------- | ------------------------- | ---------------------------- |
| **Single prediction** | Market USDC vault via AMM | Price at time of trade       |
| **Parlay**            | Parlay LP pool            | Leg odds multiplied together |

See [Place a prediction](/trading/place-prediction) and [Build a parlay](/trading/build-parlay).

## Funding and exits

| Action                  | Guide                                           |
| ----------------------- | ----------------------------------------------- |
| Deposit / withdraw USDC | [Deposit & withdraw](/trading/deposit-withdraw) |
| Sell via AMM            | [Sell a prediction](/trading/sell-prediction)   |
| Redeem after resolution | [Redeem tokens](/trading/redeem)                |
| Voided market           | [Refund](/trading/refund)                       |
| Track positions         | [Portfolio](/guides/portfolio)                  |
| Full settlement flow    | [Order lifecycle](/concepts/order-lifecycle)    |

## The prediction lifecycle

```mermaid theme={null}
flowchart TD
  A[Deposit USDC] --> B[Select market & side]
  B --> C[Confirm trade]
  C --> D[Mint + swap on-chain]
  D --> E[Hold position]
  E --> F{Event ends}
  F -->|Win| G[Redeem USDC]
  F -->|Lose| H[Tokens worth $0]
  E -->|Sell| I[AMM sell]
```

## Execution venue

M1 retail trading uses the **AMM**. You swap against a liquidity pool at the current price. See [Venues](/concepts/venues) for the upcoming CLOB.

## Fees

Three separate fees apply at different stages. They are never combined into one line item:

| Fee                | When         | Rate                |
| ------------------ | ------------ | ------------------- |
| Platform overround | Mint         | 1–5%                |
| Maker fee          | Mint         | 0.5–5% (maker sets) |
| AMM swap fee       | Swap         | 0.3%                |
| Parlay fee         | Parlay stake | 2%                  |

Full breakdown: [Fees](/trading/fees).

## Money flow

Each market is an isolated escrow:

* Players deposit USDC at mint time (fees skimmed to platform and maker vaults).
* The remaining USDC sits in the market vault.
* Winners redeem from that vault after resolution.
* Losers' stakes fund winners — there is no house bankroll covering payouts.

## Time rules

| Rule            | Cutoff                     |
| --------------- | -------------------------- |
| New predictions | 15 min before event end    |
| Resolution      | 2h after expiry (operator) |
| Redemption      | After 24h dispute window   |

## Portfolio

Track everything in **Portfolio** (`/portfolio`):

* Open positions and unrealized P\&L
* Settled predictions and realized P\&L
* Withdrawal history