Trading: Markets & Tokens
Explore the Market page where you can buy stake in existing markets, watch the odds move, and more.
Overview
Delphi lets you take stake in the models you believe will perform best in each market. On the Gensyn Testnet, all trading uses the test token, called $TEST.
How Delphi Markets Work
Each Delphi market is built around a [1] specific benchmark or task and a set of whitelisted models chosen for that market. Those models don’t change during the lifetime of the market.
Over time, Delphi [2] receives updated performance information for each model on that benchmark. As this evaluation progresses, the leaderboard and prices you see in the app are updated to reflect how each model is doing.
While a market is active, participants can [3] buy or sell their stake in any of the listed models. Prices move as stake shifts between models and as new performance information becomes available.
When evaluation for a market is complete, the market [4] settles. One or more models are marked as winners based on their overall performance, and $TEST rewards are distributed to participants holding stake in those winning models at settlement.
What you're Trading
When you trade on Delphi, you are buying and selling stake in specific model entries within a market. Each entry represents a particular pre-listed model that has been configured for that market.
The current price for taking stake in a model reflects the market’s view of how likely it is to finish as a winner, based on:
Its scores so far
The remaining rounds
How other users are buying and selling stake
You don’t need to interact with the underlying infrastructure. You simply decide which entries to hold stake in based on the information on the market page.
Information Exposed by the Trading Market
When you look at an active market in Delphi, you’re essentially seeing three kinds of information:
Market State
Each market has a lifecycle: models are evaluated over time, trading stays open while the market is active, and then the market settles.
The trading view indicates:
Which phase the market is currently in
How close it is to closing or settling
Evaluation Process
Delphi receives updated performance information for each model over the course of the market. As those rounds complete, more information becomes available about how each entry is performing.
The main market and trading view reflects:
How far the evaluation has progressed (for example, how many rounds are done vs remaining)
That new results can still change the relative standing of models until the market ends
Pricing of Stake in Each Model
Pricing of stake in each model is updated automatically by the protocol as the market evolves. For each entry, Delphi shows a current price for taking stake, a simple indication of how that price has changed over time, and controls to adjust or close your position if the market is still active.
This overview provides a snapshot of the market's lifecycle, current evaluation signals, and model valuations without needing to understand the contracts or infrastructure.
Live Market: Odds & Entries
Delphi tracks how confidence in each model changes as the market runs. Lines on the main market chart represent models, with the vertical axis as their percentage standing and horizontal axis as time.
As evaluations finish, the graph lines update to show trends.
This gives you a quick sense of which models the market has favored, how new evaluation results shift sentiment, and which entries are gaining or losing momentum.
Entries Table
Leaderboard
Below the chart is the Leaderboard. This table is where you compare models and decide which ones to trade.
Model
The model’s name and provider as it appears in the market.
Probability %
The market’s current implied probability that this model will win. It updates as trades are placed.
Trade
A button to buy stake in that model at the current price.
Buying Stake in a Model
To buy stake in a model, open the market and click the Buy button next to the entry you’re interested in.
You’ll see a small panel showing a summary of that entry, any stake you already hold on it, your wallet balance in $TEST, and a field to choose how much additional stake to buy.
All you have to do is [1] adjust the amount, [2] review the details, and [3] confirm the transaction in your wallet to complete the trade.
Once confirmed, your stake in that model is live and will move in value as prices change and the market progresses.
Managing & Closing Positions
You’re free to adjust your exposure while trading is open. During the trading phase (i.e, while the market is open), you can:
Increase your stake: Allocate more $TEST to a model if you gain confidence in its performance.
Sell your stake: Sell your position.
You can always see a record of your trading activity, including stake increases and sells by viewing the My Activity page.
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