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

# Start Here

> Why probabilities of outcomes are the core trading object.

A lot of action happens before a particular event outcome is even finalized. Narratives and opinions shift as new information emerges. With old trading models your only option for participation was indirect. Buy a stock, sell an option, wait for the outcome.

With Ascend, you now have the opportunity to trade on the probability of a particular outcome in real-time. Perpetually, with leverage.

## What is Ascend?

Ascend is a **fully verifiable events perpetuals platform** for leveraged trading on probability of **outcomes, metals, commodities, stocks, and crypto.**

<Frame>
  <img src="https://mintcdn.com/acme-58ae63bf/mayaB_5eJSG0xCiL/images/platform.png?fit=max&auto=format&n=mayaB_5eJSG0xCiL&q=85&s=363b03c80ce8249730307b88529119cd" alt="Ascend Platform" width="1407" height="970" data-path="images/platform.png" />
</Frame>

Ascend is built on Midnight, enabling fast, private, and institution-ready execution across Cardano, EVM, and Solana with multi chain trade settlement enforced by zero-knowledge proofs while inheriting Cardano's security through Midnight.

Traders take directional positions on **prediction percentages** across **outcomes, metals, commodities, stocks, and crypto**, using a **perpetual market structure** with **continuous pricing** and **deterministic settlement mechanics**. Markets on Ascend express exposure through **LONG / SHORT positions on probabilities**, while offering the **depth, flexibility, and tooling of a modern perpetuals exchange**.

***

## Markets on Ascend

<CardGroup cols={2}>
  <Card title="Prediction markets" icon="ballot-check">
    Markets based on real-world outcomes such as elections, policy decisions, court rulings, or economic releases. Each outcome is priced as a probability that moves as new information appears.
  </Card>

  <Card title="Real world event markets" icon="calendar">
    Short and medium horizon markets tied to specific events. These focus on how expectations shift leading up to a clear resolution.
  </Card>

  <Card title="Crypto outcome markets" icon="bitcoin-sign">
    Markets that express probabilities for crypto related conditions, such as short term price direction or network events. Example: *Will BTC reach a specific level within a defined window?*
  </Card>

  <Card title="Macro outcome markets" icon="chart-line">
    Markets for equities, metals, and commodities such as stocks, gold, or silver. These markets express directional probability rather than asset ownership.
  </Card>
</CardGroup>

***

## How Ascend Works

<Steps>
  <Step title="Choose a Market">
    Select an **outcome market** expressed as a percentage, covering **outcomes, metals, commodities, stocks, or crypto**.

    Each market represents the current probability price.

    Trade the probability you think the market is mispricing.
  </Step>

  <Step title="Long or Short the Probability %">
    Take a **LONG** position if you believe the probability will move higher, or a **SHORT** position if you believe it will move lower.

    Set your **position size and leverage** within the market's margin framework.

    Your exposure scales with leverage, while risk is governed by explicit market rules.
  </Step>

  <Step title="Trade the Move">
    As the probability price moves in your favor, **PnL scales with your leveraged exposure**.

    Positions update continuously, and you can **close or adjust at any time**, settling according to deterministic market mechanics.
  </Step>
</Steps>

***

## What Makes Ascend Different

<AccordionGroup>
  <Accordion title="Perpetual Mechanics on Prediction Prices" icon="infinity">
    Ascend applies **perpetual exchange mechanics** including continuous markets, leverage, margin frameworks, and orderbook based trading to **prediction prices rather than underlying assets**.

    This allows traders to operate fully within a **prediction market context**, while accessing familiar perp style functionality.
  </Accordion>

  <Accordion title="Leveraged Directional Exposure" icon="arrow-trend-up">
    Traders express **directional conviction** on probability prices using leverage, scaling exposure according to **explicit margin and risk parameters**.

    Position behavior is governed by market rules, position size, and pricing dynamics.
  </Accordion>

  <Accordion title="Continuous Pricing and Trading" icon="clock">
    Prediction markets on Ascend operate as **always on markets**.

    Probability prices update continuously, and positions may be opened, adjusted, or closed at any time within the market's trading rules.
  </Accordion>

  <Accordion title="Deterministic Settlement" icon="scale-balanced">
    Positions settle according to **deterministic rules tied to prediction price movement and market state**.

    Settlement outcomes follow predefined formulas and processes, providing consistent and transparent behavior across all markets.
  </Accordion>
</AccordionGroup>

***

<Card title="Next: Vision" icon="arrow-right" href="/start-here/vision">
  Understand why prediction perpetuals are the future of outcome markets
</Card>