> ## Documentation Index
> Fetch the complete documentation index at: https://docs.numera.trade/llms.txt
> Use this file to discover all available pages before exploring further.
# The pitch
> Why we are building the privacy layer for public markets.
**The market stays public. The trader disappears.**
Numera is the privacy engine that lets traders act on public markets without anyone tracing a position back to them.
Public markets punish honest trading. Every position becomes a permanent public record.
A prediction market where the market is fully public and the trader is completely untraceable.
A small fee on every trade. Revenue grows the same way the market does, with volume.
## The problem: transparency became surveillance
On chain markets promised transparency. What they delivered was surveillance. Every price is public, which is good. Every position is also public, permanently, tied to a wallet anyone can watch, which is not.
Traders respond by trading smaller than they believe, avoiding trades right after real research because acting on it hands the work to everyone watching, and staying out entirely once a position is large enough to be worth someone's attention. The market that was supposed to get more honest as it got more transparent instead gets thinner, because the people with the best information have the most reason to hide it.
## The insight
Nobody actually needs to know who placed a trade. They need to know the price, the size, and that the market is solvent. Numera keeps everything a market needs to be trusted, and removes the one thing it never needed: your name next to your position.
## How it works
Every trader gets a private account, funded from a shared pool that severs the link between a wallet and a trade. On the blockchain it looks exactly like what it is: an account placing a trade. Nothing connects it to you.
The market itself hides nothing. Every price, every trade, every dollar held by every market is checkable on chain by anyone, in real time.
Right now we are focused on **continuous markets**: a rolling market on a real asset, crypto today and stocks alongside it, where the moment one round settles the next one opens. Fund once and you are set for every round after that. It is the same trading, the same privacy, and the same guarantees, just on an asset that is always live rather than a one time question.
## Guaranteed by math, not by promise
Every market is provably solvent. Prices are set by a well established automated market making formula, where the amount of money required to cover every possible payout is a mathematical identity of the pricing formula itself, not a policy Numera follows. A market cannot be underfunded. That means traders can exit early at any time, something pooled betting products cannot safely offer, and it means we are never in a position to owe more than we hold.
## The business: revenue that grows with the market
Numera earns a small spread and a capped trading fee on every trade, nothing more. No subscriptions, no separate token to sell, no fee on deposits, withdrawals, or claiming winnings. Revenue scales directly with trading volume, and trading volume scales directly with how much traders trust the market, which is the thing privacy is built to protect. The business and the product point in the same direction.
## Why now
On chain prediction markets have gone from a niche experiment to a real venue for trading opinions on real world events, and the volume moving through that category keeps pulling in more serious capital. Serious capital does not enter a market where every position is a permanent public record next to a name. Privacy is not a feature traders are asking for out loud. It is the constraint quietly capping how much money is willing to show up, and removing it is the next unlock for volume in this category, not a nice to have.
## The moat
Privacy for a market is a different, harder problem than privacy for a payment. A market has to stay completely public on one side, prices, trades and reserves checkable by anyone, while staying completely private on the other, with no seam between the two an outside observer could use to connect them. Building both properties into the same system, and proving it holds under real settlement and real disputes, is the actual work. Once a market's liquidity and trust are established on that foundation, a competitor cannot bolt privacy on afterward without starting over.
Sign in, fund privately, and trade continuous markets on real assets, or open a custom market on any question with a deadline. The whole loop already works end to end. Get in touch for an invite code to try it yourself.
## Where this goes
Continuous markets on more assets are where we are putting our energy right now. Sports markets are next, then esports.
Prediction markets, continuous or custom, are where we are proving this, not where it ends. The same engine, private accounts, private funding, provably solvent pricing, is not specific to forecasting. Any public market that currently forces a trade off between price transparency and trader privacy is a market this layer can serve.
## Get in touch
We want to talk to investors who see the same gap between public markets and private traders.
numera.trade