The words we use
Backd keeps its words short. Here is what each one means, in one line.
| Word | What it means |
|---|---|
| Call | One side of one market, backed by you at the price at the time. The unit everything else is built from. |
| Back | Take a side yourself, or take the same side as someone else's call at today's price. “Backd” is the past tense. |
| Fade | Take the opposite side of someone's call. |
| Thesis | The one line you write with a call: why. People can reply to it, and you can add dated updates. |
| Stake | The dollars you put on a call, from $1. It comes out of your own wallet. |
| Chance | The market's price for a side, shown as a percentage, or as decimal, fractional or American odds if you prefer. See reading the odds. |
| Slip | The receipt-style image every call gets, to post or save. Stamped BACKD while open, RIGHT or WRONG once settled. |
| Combo | 2 to 10 picks in one slip, paying only if every pick lands. Swipe builds one from your swipes. |
| Swipe | Today's hottest two-way markets, one card at a time. Right for Yes, left for No. |
| Challenge | You against one friend on one market, same stake each side, settled by the market. |
| Cash out | Close a position before the market settles, at the live price. Recorded as a cash-out, never erased. |
| Settle | The market resolves on Polymarket. Winning shares pay $1 each, losing shares pay nothing, and your record updates. |
| Claim | Collect what your winning shares pay, with one signature on the Wallet page. Automatic once one-tap orders are on. |
| Record | Right %, profit, ROI, streak, XP and rank, from settled calls only. Written by the server, never editable. |
| XP and rank | XP is earned by being right, more for a longer shot. Total XP sets one of 6 ranks, each with a share of the fee that accrues to you. |
| Crew | A private league of up to 50 people with its own chat and standings. |
| Wrapped | Your week in one card, every Monday. |
| Polymarket wallet | The wallet your money and shares live in. Yours, created and signed for by Phantom or MetaMask. Backd never holds it. |
| One-tap orders | A trading-only key that signs orders for you so you don't confirm each one. Opens the day Polymarket enables it for Backd. |
| Builder | What Backd is to Polymarket: an app that places orders on Polymarket's book through its official programme, and is paid a 1% fee by Polymarket for doing so. |