FAQs

what is a prediction market? forkast is a prediction market that lets you trade on the outcomes of future events, spanning live sports, gaming culture, and crypto trends prediction markets use the collective intelligence of participants to create accurate probability estimates about the likelihood of different outcomes unlike gambling, which relies predominantly on chance, prediction markets reward those with deep domain knowledge and superior analytical skills with forkast, you can trade in a secure and transparent environment on topics you love events feature outcomes that range from simple yes/no questions to multiple choice options to get started, simply select a market and place a trade on the outcome you believe will occur when the market resolves, you’ll receive $1 00 for every share you hold—provided your prediction is correct how are probabilities determined in a market? in a market, probabilities are shaped by the collective actions of traders as people buy and sell, the market adjusts to reflect the perceived likelihood of each outcome for instance, if more users purchase "yes" shares, the market assigns a higher probability to "yes" being the result conversely, increased demand for "no" shares will raise the likelihood of "no" as the outcome these probabilities are dynamic, constantly shifting as new trades and information flow in, offering a real time snapshot of the collective expectations about what is most likely to occur creating a forkast account how can i create an account? creating an account is simple, and you have four options to get started email address signup prefer email? just enter your address and confirm the one time password no extensions, no wallets, no seed phrases—quick and easy https //chromewebstore google com/detail/ronin wallet/fnjhmkhhmkbjkkabndcnnogagogbneec?hl=en sign up by linking your already installed https //chromewebstore google com/detail/ronin wallet/fnjhmkhhmkbjkkabndcnnogagogbneec extension to forkast both of these wallets are self managed wallets available as a chrome browser extension if you choose to use this sign up option, be sure to back up your private key to securely maintain ownership of your assets google signup sign up instantly with your google account—no browser extensions, wallet setup, or seed phrases required what is a proxy account and why do i need it? a proxy account acts as a middleman between your wallet and the forkast platform it helps ensure secure interactions, making the platform more efficient and easier to use while maintaining decentralization to learn more visit docid\ sjo1w49qgvasdqr3nmrqa is forkast available in all countries? deposits and trading are unavailable to u s persons or individuals in the united states, singapore, france, taiwan, china, thailand, the cayman islands, cuba, iran, north korea, russia, syria or other restricted jurisdictions the use of measures to circumvent or attempt to circumvent these restrictions is strictly prohibited please ensure you are accessing forkast from a compliant jurisdiction see our terms of use for more information i have a great idea for a market how can i get it added? yes! forkast welcomes market suggestions join https //discord gg/forkast and post in the #prediction proposals channel how can i recover my ronin wallet key if it’s lost? if you've lost your ronin private key, you can recover your wallet using the 12 word recovery phrase you received when setting up the wallet follow the official ronin guide https //support roninchain com/hc/en us/articles/14036904702619 lost ronin secret recovery phrase seed phrase# text=please%20note%20that%20if%20you,axie%20infinity%20or%20sky%20mavis is it possible to change my forkast email? no, if you created your forkast account using email or google sso , the email address cannot be changed after signup is forkast an onchain or offchain platform, web2 or web3? forkast combines both onchain and offchain systems the onchain part ensures that transactions and outcomes are securely recorded on the blockchain the offchain part is used for processes like matching trades and running markets more efficiently this mix allows forkast to offer the best of both worlds the security and transparency of web3 with a trade engine that has the speed and scalability of web2 to learn more visit docid\ nxoiks8lxgk08goxl4ddd what browsers do you support? forkast supports all modern browsers, including chrome, firefox, and safari, for a great trading experience blockchain why use a blockchain in a prediction market? a blockchain helps make prediction markets fair and secure it keeps a permanent record of all trades and outcomes that anyone can check, so users don’t have to rely on a central authority to trust the results it also ensures a secure, fast way to participate in markets and claim your winnings, adding transparency and reliability to the platform what blockchain is forkast built on? forkast is built on the arbitrum https //docs roninchain com/basics/introduction ronin is a blockchain built by sky mavis for axie infinity and other blockchain based games it is designed to provide fast transactions, low fees, and high scalability, making it ideal for gaming and other consumer applications what is usdc, and where can i buy it? usdc (usd coin) is a digital currency that is always worth $1 it’s called a stablecoin because it’s tied to the value of the us dollar, making it a reliable way to trade and manage funds on forkast, usdc is converted into trading credits (tc) at a 1 1 ratio trading credits are the currency used for trading on the platform you can buy usdc on popular cryptocurrency exchanges like https //www coinbase com/en de/usdc , https //www binance com/en/how to buy/usd coin , and https //app roninchain com/swap?inputcurrency=0x0b7007c13325c48911f73a2dad5fa5dcbf808adc on forkast, you can also acquire usdc directly through the deposit page using various payment options what are trading credits (tc), and how can i buy them? trading credits (tc) are forkast’s internal currency, used for trading and participating in markets on the platform they are paired 1 1 with usdc, meaning 1 tc is equal to 1 usdc to acquire tc, simply convert your usdc through the deposit page there, you can exchange usdc for tc with ease once the conversion is complete, tc will serve as the primary currency for all your trades on forkast to learn more visit docid\ f0qp83q2fqnfmc00wezm0 do i need "gas" money to process trade transactions on forkast? no, you do not need gas to trade on forkast gas is only required when depositing or withdrawing funds i redeemed a credit code but my balance did not update? what should i do? your balance should update within 5 minutes of redemption if it doesn’t, please reach out to the forkast support team for assistance deposits & withdrawals why are there fees to deposit and withdraw my usdc, and why do i need to pay them? fees cover the network costs of processing transactions on the blockchain they are essential to ensure your transaction is securely recorded and verified on the blockchain, helping maintain the network's security and reliability what are the fees for buy and sell orders? forkast does not charge fees on buy orders however, a 0 75% taker fee is applied to sell orders, deducted from your position at the time of sale what is a taker fee? a taker fee is charged when an order removes liquidity from the market by matching with an existing order selling a 0 75% taker fee applies when your sell order matches an existing buy order buying no fees apply to buy orders for the month of december, no fees will be charged on any trades why did the network fee become more or less expensive? network fees fluctuate based on blockchain congestion and the complexity of your transaction i deposited usdc using my external wallet to my deposit address, but my funds aren't appearing verify your transaction on the blockchain using a https //arbiscan io/ if it has been confirmed, reach out to forkast support and provide your transaction hash for further assistance how is the network fee calculated? network fees are calculated based on gas prices and the computational resources required for your transaction on the blockchain why is my debit or credit card not working? check for restrictions from your bank or card issuer i had an old, pending manual deposit/withdrawal, and i can't find it anymore what happened to my funds? verify whether the transaction has been refunded or completed if the issue remains unresolved, please reach out to forkast support for assistance 10 minutes have passed, and i still haven't received my funds blockchain transaction times may fluctuate to check the status of your transaction, visit a https //arbiscan io/ if the issue persists, please reach out to our support team for assistance faq i redeemed 500 tc, but only 499 99 showed up in my wallet – why does that happen? due to the nature of blockchain transactions, t c (trading credits) supports up to 6 decimal places , and trading fees are also calculated with decimal precision this can sometimes lead to small rounding differences between the amount displayed on forkast and the actual on chain amount for example you might see a position quantity of 500 tc on forkast, but the on chain balance may be 499 999999 tc due to fractional fee calculations this does not affect the actual value of your holdings —the blockchain maintains accuracy, even if the displayed number rounds slightly this behavior is common across other blockchain platforms, and we are actively exploring ways to minimize the impact if you have any concerns, feel free to reach out to our support team to learn more visit docid\ f0qp83q2fqnfmc00wezm0 why am i seeing the error message "you have reached the maximum amount allowed" when trying to deposit more usdc into my forkast account? this means your account has reached its maximum platform credit purchase limit once your total deposits hit this cap, you’ll encounter this error if you believe you haven’t yet reached the limit but are still seeing this error, please contact our support team for assistance how do i withdraw assets from forkast to another platform? if you wish to move the assets from inside your ronin waypoint wallet outside of it, you need to import it to the ronin wallet browser extension, following the guide https //docs skymavis com/mavis/ronin waypoint/guides/manage assets what is the difference between a market order and a limit order? market orders a market order is used to buy or sell shares immediately at the best available price example if you place a market order to buy 60 shares of "skt t1 win, yes," the system will instantly match your order with the best offer in the order book limit orders a limit order allows you to set a specific price to buy or sell shares the trade will only happen if someone matches your price example if you place a limit order to buy 75 shares of "skt t1 win, yes" at $0 50, the order will remain open until a seller is willing to sell at that price how does the forkast referral program work? to earn referral rewards, the person you refer (person b) must meet specific criteria person b can either spend a minimum of $5 usdc on the platform, such as through trading, converting usdc to trading credits, or participating in markets once these requirements are fulfilled, you (person a) become eligible for the referral rewards what do i win by referring others? when your referral (person b) meets the criteria to become a successful referral, both of you receive rewards as the referrer (person a), you earn 10% of the trading fees generated by person b for the next 6 months these rewards are paid in trading credits, which can be used for trading on forkast meanwhile, your referral (person b) gets a 25% discount on trading fees for the first 3 months after signing up it’s a win win for both parties! to learn more visit docid\ zzkf5pzjdrana3w6ola8z portfolio & shares what do i need to do before i can start trading? to start trading, create an account using your email / social login / wallets after that, deposit usdc into your forkast account to begin trading i've changed my mind about a trade can i sell my shares? yes, you can sell your shares anytime before the market resolves at the best available price when does a market close? markets close when the outcome is decided, or at a predetermined time what are my shares worth if i hold them until the market is resolved? shares are worth $1 00 each if the outcome matches your prediction otherwise, they are worth $0 can i own both ‘yes’ and ‘no’ shares for a market at the same time? yes, holding both positions is possible i received an error when i submitted my trade what do i do? retry the transaction after a few seconds if the issue persists, contact forkast support where can i check my activity and order history? you can track your open buy and sell orders and view your market participation on the portfolio page inside, you'll find tabs like "open orders" and "activity" to navigate your transaction history additionally, you can share your positions directly on social media using the "share" button security are my deposited funds secured? funds are held in a secure proxy wallet linked to your account will you ever ask for my private key? no, forkast will never request your private key keep it secure at all times leaderboard how is the leaderboard ranked? the leaderboard rankings are determined using the following criteria trading volume players are ranked primarily by their total trading volume in cases where multiple players have the same volume, their gains serve as the tiebreaker qualifying for the leaderboard to ensure fairness and active participation, users must meet a minimum total purchase volume requirement to qualify for the leaderboard rewards to be eligible for the leaderboard, a user must have a total purchase volume of greater than $5 within the competition period we sum up all the buy orders executed by a user throughout the week only successful buy trades contribute to this amount—sell orders do not count toward the total investment requirement resolution what happens when a market resolves? when resolved, winning shares pay out $1 00 each losing shares are worth $0 what should i do when a market resolves? claim your winnings by redeeming your shares from your portfolio page what happens to unfulfilled buy orders when a market resolves? if a market resolves before your buy order is fulfilled, the order is automatically canceled, and your funds are refunded