What is Ride?
Ride is a Solana application that combines real crypto trading with prediction markets. Instead of only betting on whether an event will happen, users can make trade calls that are backed by actual fund capital.
How does Ride Work?
A user, known as a caller, stakes a small bond and makes a call on a token within a set time window. The fund vault then places the real trade behind that call. If the call is correct, the caller earns a share of the trade profit. If the call is wrong, the caller loses only the bond.
At the same time, other users can back the call by taking either side of the market:
- YES: if they think the call will hit
- NO: if they think the call will miss
It creates two layers: a real trade placed by the fund and a prediction market on whether that trade succeeds.
The process on Ride follows the order below:
- A caller makes trade calls by staking a small bond
- The fund places the actual trade on Solana.
- Backers take YES or NO positions on whether the call will succeed.
If the trade wins, the caller shares in the profit; if it fails, they only lose the bond. With this, Ride gives its users leveraged exposure without liquidations.
Making a Call on Ride Markets
To make a call, a user starts by choosing a fund. Each fund has its own treasury, token, rules, and payout structure. After selecting a fund, the caller selects the token they want to call on and chooses a time window.
For example (as shown below using the CARDS token), a caller may create a call such as: CARDS reaches a target price by a certain date and time. The target is set by the system based on the selected token and window.
The caller then stakes a small bond. In the trade below, the Caller was “nanko”, and he staked 120k ISLAND tokens. This was because his stake was in the Island DAO vault, and that is the Fund’s token. Each fund on Ride Markets can have its own token and treasury. Bonds, backer stakes, payouts, and caller rewards are usually denominated in the fund’s token.
Once confirmed, the fund vault places the trade behind the call, and the market becomes live for other users to back, and then I placed my trade on the “No” option.
If the call hits before the deadline, the caller gets their bond back and receives a share of the fund’s trading profit. If the call does not hit, the caller loses the bond. The caller lost after some hours. The trade expired, and I won some ISLAND tokens from the pot.
All Ride positions held in a wallet are displayed in the positions. It serves as a Dashboard that provides a quick overview of all markets they have open, those that are claimable and a history of past trades.
Ride has a leaderboard section that ranks users’ realized profit. This makes it easier for its traders who are strong callers with consistent win rates.
Conclusion
Ride Markets introduces a different type of prediction market on Solana by connecting trade calls to real fund-backed positions. Callers can direct larger trades with a small bond and earn a share of the profit if their call is right, while backers can take YES or NO positions on whether each call will succeed.
