# How It Works

### **Market Flow (High-Level)**

Each market operates in a continuous cycle composed of **two phases of \~5 minutes each**:

#### **1. Prediction Phase (\~5 minutes)**

* A new round opens
* Users can take a position: **Up or Down**
* The market remains open until the next oracle update

#### **2. Oracle Lock Event (Start of next 5 minutes)**

* At the 5-minute mark, the oracle submits a price
* This price becomes the **lockPrice**
* The market is now **closed to new positions**

#### **3. Resolution Phase (\~5 minutes)**

* The market remains locked
* No further interaction is allowed
* At the next oracle update:
  * The **closePrice** is recorded
  * The outcome is determined

#### **4. Outcome**

* If **closePrice > lockPrice → Up wins**
* If **closePrice < lockPrice → Down wins**
* If **closePrice = lockPrice → Protocol wins**

#### **5. Payout**

* Winners receive rewards automatically after resolution


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