> ## Documentation Index
> Fetch the complete documentation index at: https://docs.limitless.exchange/llms.txt
> Use this file to discover all available pages before exploring further.

# What is Limitless?

> An overview of Limitless Exchange and how prediction markets work

## Overview

Limitless Exchange allows natural language expressions of arbitrary market conditions to be traded freely, creating a forecasting and risk engine for the global economy.

Users buy shares in the outcomes — usually "Yes" or "No" — of particular conditions. For example:

> Buy "Yes" shares that BTC will reach \$65k at **\$0.15**, implying a **15% chance** the outcome will be realized, with a potential ROI of **\~560%**.

That's because **winning shares expire at \$1**, but losing shares are worthless after market resolution.

## How It Works

1. **Pick a market** — Browse live markets on crypto prices, stocks, macro events, and more.
2. **Buy shares** — Purchase "Yes" or "No" shares at the current market price.
3. **Hold or trade** — Trade your position anytime before the market resolves.
4. **Collect winnings** — Winning shares pay out \$1.00 each.

## Collateral

Prior to market resolution, **1 "Yes" + 1 "No" share** in a particular market can always be redeemed for **1 collateral token**.

The collateral token is the cryptocurrency locked in an onchain smart contract to issue outcome shares — currently **USDC**.

## Key Facts

| Stat             | Detail                            |
| ---------------- | --------------------------------- |
| **Chain**        | Base (Ethereum L2)                |
| **Volume**       | \$1B+ traded                      |
| **Collateral**   | USDC                              |
| **Market types** | Hourly, daily, weekly, and custom |

<Card title="Join the community" icon="discord" href="https://discord.com/invite/yb4SscD8RZ" horizontal>
  Chat with traders and the Limitless team on Discord.
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