Trading on Aura
Aura uses a central limit order book (CLOB). Prices are shown as probabilities (0–100%), and liquidity comes from limit orders posted by traders and market makers. When you place a market order, it fills instantly against the best available orders on the book. When you place a limit order, you choose your price and your order sits on the book until someone matches it (or you cancel it).
Buying Outcome Shares
Navigate to Your Desired Market
Select the market you wish to trade from the Aura homepage or search results.
Choose Outcome
Pick an outcome, typically YES or NO.
Choose Order Type
Market Order (instant fill):
You enter how much USDT (collateral) you want to spend (or the share quantity you want).
The order fills immediately against the best available asks on the order book.
Your final average price depends on available depth
Limit Order (set your price):
You enter a price (probability % / 0–100) and a quantity (shares).
Your order is posted to the order book and only fills if another trader matches it.
You can cancel open orders anytime before they fill.
Confirm Transaction
Click Buy and confirm via your connected wallet (or passkey flow).
Selling Outcome Shares
Switch to Sell Tab:
On the market page, select the "Sell" tab.
Select Outcome Shares:
Choose which shares you want to sell (YES or NO).
Choose Order Type
Market Sell (instant fill):
Sells immediately into the best available bids on the book.
Your average fill price depends on book depth.
Limit Sell (set your price):
You set a price and quantity to sell.
The order sits on the book until a buyer matches it.
You can cancel open orders anytime if you change your mind.
Confirm Transaction
Click Sell and confirm via your connected wallet (or passkey flow).
Parlay Bets (Multi-Leg Trades)
Multiple Legs:
Users can select 2 to 5 different market outcome positions (legs) to include in one parlay bet.
Combined Odds:
The odds of each leg multiply together, yielding a combined payout that can reach up to 50× the original stake if all legs are correct.
All-or-Nothing Payout:
Every leg must win for the parlay to pay out. If any leg fails, the entire parlay bet is lost and no payout is given.
Dynamic Odds Impact:
Parlay odds are influenced by execution across the selected markets. As legs are added, the overall odds can shift based on available liquidity and prices at the time of entry.
Understanding Fees & Order Book Pricing
Fees
A 2.5% trading fee is charged in USDT on executed volume.
Fee split:
A predefined slice goes to the market creator.
The remainder goes to the Aura treasury.
If a referral link is used, 10% of the treasury slice is paid to the referrer.
If a market is disputed and resolved by community vote, 10% of the treasury slice is redirected to voters who backed the ultimately correct outcome.
No other fees exist—no exit tax, hidden spread, or performance fee.
Spreads & Slippage
The spread is the gap between best bid and best ask on the book.
Slippage occurs when a trade consumes multiple price levels due to limited depth.
Potential returns
Market resolves YES
Market resolves NO
Each YES share you hold pays 1 USDT
Each NO share you hold pays 1 USDT
All NO shares expire worthless
All YES shares expire worthless
Once a market outcome is finalized, winning shares are settled and paid out in USDT to the same account/wallet that holds the shares. Payouts are processed after resolution as part of settlement.
Collateral & settlement safety
Buy orders lock USDT collateral based on the order’s price and size. If an order is partially filled or canceled, any unused locked USDT is refunded.
TL;DR
Aura uses a CLOB order book.
Prices are 0–100% probabilities from bids and asks.
Market orders cross the book and may partially fill.
Limit orders provide liquidity, can be canceled, and release unused collateral if unfilled.
A 2.5% fee is charged in USDT on executed volume, with creator/treasury/referral/dispute-voter distribution.
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