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Trade fees

Every trade (buy or sell) has a trade fee between 1% and 4%, set by the market creator. The default is 2%. The fee is split evenly:
  • 50% goes to the market creator
  • 50% goes to the PMX protocol

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Liquidity fee (AMM buys only)

AMM markets charge an additional liquidity fee on buys. This fee starts at 5% when the market is new and decreases to 1% as trading volume grows relative to the initial liquidity. The liquidity fee protects against early manipulation of thinly-traded markets.

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Payout mechanics

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AMM markets

When an AMM market resolves:
  • Each winning token is worth exactly $1 USDC
  • Each losing token is worth $0
  • Holders redeem winning tokens through the API to receive USDC
Example: You hold 150 UP tokens and UP wins → you can redeem for $150 USDC.

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Pool markets

When a Pool market resolves:
  • All USDC deposited into the pool is divided proportionally among holders of the winning token
  • Payout per token depends on how many winning tokens exist
Example: The pool has $1,000 USDC and there are 2,000 winning tokens → each winning token pays $0.50.

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Fee collection

Market creators and the PMX protocol can collect their accrued fees at any time via the API. Fees accumulate as trades happen and are withdrawn in USDC.