> For the complete documentation index, see [llms.txt](https://docs.punch.win/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.punch.win/support/faq.md).

# FAQ

***

## General

<details>

<summary>What is PUNCH.WIN?</summary>

PUNCH.WIN is a decentralized prediction market platform built on CROSS Chain. Users can predict outcomes ranging from 1-minute BTC Up/Down forecasts to sports, politics, culture, and other events, and trade using POINT or USD.

</details>

<details>

<summary>What types of markets are available?</summary>

* **Event Markets**: Real-world events such as politics, economics, and culture (Yes/No)
* **Crypto Price Prediction**: 1-minute BTC Up/Down market
* **Multiple-choice Markets**: Predict the outcome among several options

</details>

<details>

<summary>How do I create an account?</summary>

Click **Connect Wallet** and sign in with Google or Apple. A wallet is created automatically, with no seed phrases or browser extensions. You can start trading immediately after sign-up.

</details>

<details>

<summary>What does the price of a Share mean?</summary>

The price reflects the market's estimated probability. A Yes Share at $0.70 means the crowd sees a 70% chance of the event occurring. Yes and No prices always add up to $1.00.

</details>

***

## Trading

<details>

<summary>What are the fees?</summary>

Fees are charged only on Taker orders. The fee rate varies by market: up to $0.12500 per Share on 1-Minute Markets, $0.07500 on 3-Minute Markets, $0.02500 on 5-Minute Markets, $0.01250 on 1-Hour and Daily Markets, $0.02500 on Sports Markets, and $0.00625 on Other Markets (all at $0.500); fees are significantly lower for skewed odds. **Maker fees are 0%.** [Fee Details](https://docs.punch.win/trading/fees)

</details>

<details>

<summary>What is the difference between Taker and Maker?</summary>

**Taker** consumes liquidity (fee charged). **Maker** provides liquidity (no fee + Rebate). See [Order Types](https://docs.punch.win/trading/order-types) for details.

</details>

<details>

<summary>What is Maker Rebate?</summary>

Makers receive **50% of the Taker fee** as a Rebate, paid automatically upon fill. No claim required. This means Makers pay 0% fees and earn income by providing liquidity.

</details>

<details>

<summary>What is the difference between Market Order and Limit Order?</summary>

**Market Order** executes immediately at the best available price (always Taker, fee charged). **Limit Order** is placed at a price you set. If posted to the orderbook, it becomes a Maker order with 0% fees and Rebate eligibility.

</details>

<details>

<summary>Can I sell my Shares before the market settles?</summary>

Yes. You can sell your position anytime before settlement. If the price has moved in your favor, you can lock in profit without waiting for the final result.

</details>

<details>

<summary>What are Split and Merge?</summary>

**Split** converts 1 trading currency into 1 Yes Share + 1 No Share. **Merge** does the reverse. Both are fee-free. Useful for hedging, arbitrage, and liquidity provision. See [Split & Merge](https://docs.punch.win/trading/split-merge) for details.

</details>

<details>

<summary>What happens when a market closes?</summary>

Winning Shares can be redeemed at $1.000 per Share. Losing Shares receive no payout. See [Redeem](https://docs.punch.win/trading/redeem) for details.

</details>

<details>

<summary>What happens if a market is cancelled?</summary>

A refund is issued at your **share cost** (price × shares, excluding fees). Previously paid Taker fees are not refunded.

</details>

<details>

<summary>What happens if the outcome is unknown?</summary>

All Shares are settled at $0.500 (50:50 split) regardless of which side you hold.

</details>

***

## Market Structure

<details>

<summary>How is there liquidity on new markets?</summary>

PUNCH.WIN operates automated liquidity mechanism that populate every market with buy and sell orders across the full price range before trading begins. You can trade any market from the moment it opens.

</details>

<details>

<summary>How are markets settled?</summary>

* **Crypto Up/Down (BTC)**: Settled automatically via a reliable BTC price oracle at the end of each round
* **Event Markets**: Settled on-chain using cross-verified UMA Oracle and Polymarket API results.

</details>

<details>

<summary>What is the orderbook?</summary>

A list of pending buy (Bid) and sell (Ask) orders organized by price. Prices are displayed in $0.001 increments. When a buy and sell price meet, a trade executes.

</details>

## POINT

<details>

<summary>What is POINT?</summary>

POINT is a free, season-based currency for trading prediction markets with no deposit. Points cannot be bought, sold, or converted, and they are burned at the end of each season. Prizes go to the top of the leaderboard, paid in a real asset (ONE). [POINT Details](https://docs.punch.win/getting-started/point-market)

</details>

<details>

<summary>How do I get POINT?</summary>

* **Welcome points**: the first time you open the app in a season
* **Daily check-in**: once a day, with more for consecutive days
* **Weekly mission**: trade a set number of different events each week
* **Getting started**: your first prediction, first event trade, and trading across categories
* **Referral**: when a friend you invited becomes active

Amounts vary by season. Check the Point page for the current amounts.

</details>

<details>

<summary>Can I convert points to cash or crypto?</summary>

No. Points are only used for trading inside the service, and they are burned when the season ends.

</details>

<details>

<summary>Can I send points to someone else?</summary>

No. Transfers between users are blocked.

</details>

<details>

<summary>I missed a day of check-in. What happens?</summary>

Your streak and multiplier start over. Points you already claimed stay in your balance.

</details>

<details>

<summary>What happens to check-in points I don't claim?</summary>

Unclaimed check-in points disappear at 00:00 UTC. They do not carry over.

</details>

<details>

<summary>Why did my rating drop since yesterday?</summary>

Ratings move up and down during a season. The number can drop even when your own results have not changed. It is recalculated every hour.

</details>

***

## Still have questions?

Reach out to us at [**support@crossdefi.io**](mailto:support@crossdefi.io). We'll get back to you as soon as possible.