Fees in plain words

This page lists every fee on Ultramint and where the money from each market goes. The legal version is the Fee Schedule.

When you buy

There is no fee to buy. The amount you confirm is the amount that goes into the market.

The price includes a small spread. Each share costs slightly more than the outcome's chance. On a balanced two-outcome market, one share of each outcome costs about $1.06 together. A new market has no spread until trading builds up its depth.

The spread stays in the market. It becomes part of what the market keeps.

Ultramint pays the network fee on every Buy and claim. A card or bank provider charges its own fee, shown on its checkout before you pay.

When you win

Each winning share pays $1, less the settlement fee. Losing shares pay nothing and pay no fee.

The rate depends on the market's total volume. It is read once, when the market resolves, and everyone in the market pays the same rate.

The formula is 0.5% + 1.5% × 1,000,000 / (1,000,000 + volume).

If you bought very close to $1, the payout after the fee can be a little less than you paid.

When a market is voided

No settlement fee is charged. Every stake is refunded in full, spread included. The seed and the unused part of the resolution prepayment go back to whoever paid them.

Where the money goes

When a market resolves, it pays out in this order:

1. Winners are paid in full.
2. The seed is refunded to whoever provided it.
3. The settlement fees collected from winners: a share goes to the creator pool.
4. Everything else the market kept, including the spread and the losing stakes: a share goes to the creator pool, and the rest goes to the treasury.

The creator pool is shared between the creator and any Market Promoters:

• Each promoter gets the same share of the pool as their share of the market's volume. A promoter who brought 30% of the volume gets 30% of the pool.
• All promoters together can take up to a cap. If they would go over it, the cap is split between them by volume.
• The creator keeps the rest. With no promoters, the creator keeps the whole pool.

The exact shares and the cap vary with the promotions running when a market is minted. See Current promotions for today's split and a worked example.

The treasury pays any seed-funder reward first. Ultramint keeps the rest. In a Partner Town, Ultramint shares its part with the Town owner at a rate agreed with that Town.

If one outcome took almost all the money and won, the market may keep nothing. The seed covers the gap first, and there is nothing to share.

Up/Down rounds and Combos

These have no creator, so they have no creator pool and no promoter share. Ultramint runs Up/Down rounds, and you build Combos yourself from other markets. They charge the same settlement fee. A Combo charges it once, on the combined result. Everything the round or Combo keeps goes to the treasury.

Creating a market

Members only markets pay no resolution prepayment. A promotion can also waive it. See Current promotions.

A seed funder can pay both costs for you. They get the seed back, and may earn a reward from the treasury's share. Their reward never comes out of the creator pool.

Yield

If the creator turns on yield, the market's money sits in an Euler V2 vault. A handling fee of 15% of the yield stays in the market and is shared out with everything else it keeps. Your stake is never charged. The other 85% goes to every position by size and time in the vault, winners and losers alike.

Challenging a result

To challenge a proposed result on a public market, you post a bond of 5% of the market's volume, at least 50 USDC and at most 2,500 USDC. You get it back if your challenge is upheld. If it's rejected, the bond goes to the holders of the winning outcome. Members only markets can't be challenged.

UMINT credits

A winning position paid with UMINT credits pays only its profit, in USDC, after the settlement fee. The credits you spent don't come back as cash. On a void, they come back as UMINT.

Fixed when the market is minted

Every fee, share and cost is locked into a market when it's minted and shown before anyone buys. Ultramint can change them for new markets only.