The vocabulary, the mechanics, and a glossary. Skim the sections or jump to a term.
Fools.com is a place where any Fool can Call a Metric up or down. A Metric is a measurable number in the world. Think tomorrow’s high in Central Park, Bitcoin’s hourly price, or how many new Metrics go live today.
Any Fool can propose a Metric. Other Fools back it, as individuals or through their Folly. Once it is live, anyone calls it up or down. That is the whole loop.
A Call is a direction prediction inside a Period. Up means you think the resolved number comes in higher than the current Mark. Down means lower.
Every Call has a Stake, a Leverage, an Entry, and a blow-up mark. Stake is your USDC at risk. Leverage multiplies your notional exposure. Entry is the Mark at the moment the Call opened. Blow-up is the Mark at which the Keeper liquidates you.
At Period settle, scalar Metrics auto-close every open Call against the resolution value. PnL realizes. A fresh book opens for the next Period.
Fool is the base identity. Anyone with a wallet on Fools.com is a Fool.
Founding Fool is a Fool who put capital into a specific Metric’s launch pool. Founding Fools share the founders’ cut on every Round.
Folly is a named group of trader Fools. Follies are a separate social and identity feature. Not in the UI yet.
Every Metric has an Oracle. US weather pulls from the National Weather Service. Crypto spot prices come from Coinbase. Macro series (Treasury yields, FX, oil, gold, VIX) come from FRED at the St. Louis Fed. Petroleum and gas inventories come from the EIA. Climate, space weather, and Niño SST come from NOAA and NSIDC. USDA NASS publishes weekly crop progress. Airborne aircraft counts come from OpenSky. All sources are free and public.
Each Metric’s detail page shows a trust-signal block with source name, feed Uptime, last read, current mark-oracle gap, and pause state. Agents reading the JSON get the same fields.
Oracle values are published in two phases: commit-reveal. The hash lands first. The value lands at settle. This prevents last-second value manipulation.
Launch pool is the USDC backing a Metric’s first Round. A Metric does not go live until the floor is met.
Round lease is a flat USDC fee paid each Round to keep the Metric live. Founders’ cut is the share of Round revenue that flows to Founding Fools.
Fees flow into trading LPs, the founders’ cut, and the platform. The platform’s slice further splits into a treasury and the shared insurance pool.
Every term used across the site. Each entry has a short gloss and a longer one. Anchor links work for sharing.
A person on the platform.
A Fool is any individual with an account on Fools.com. Fools propose Metrics, back launch pools, and Call Metrics up or down. Fool is the platform identity word; anyone with a wallet on Fools.com is a Fool by definition.
A group of trader Fools. Not launched yet.
A Folly is a named, joinable group of Fools. Follies can form around a Metric, around a performance ranking, or as a user-created crew. Follies are a separate social and identity feature and are not yet in the UI.
A Fool who backed a specific Metric's launch pool.
A Founding Fool put capital into the launch pool of a specific Metric. Founding Fools share the founders' cut of every Round the Metric runs. They are individuals, not a Folly, and their share of the pool is capped at 40% per the launch-pool governance rules.
The Fool who opened this Metric's launch pool.
The Proposer is the Fool who wrote the spec and opened the launch pool. The Proposer posts a small refundable pledge at submission; the pledge is returned when the Metric launches cleanly and is taken if the spec turns out to be fraudulent.
The platform's verb for the whole activity.
To Frivol means to Call Metrics, back launch pools, and carry on with Fools.com in general. It is reserved for brand surfaces and the tagline. Fools use plainer verbs in the UI: Call, Back, Lock it in.
A measurable number that resolves on a cadence.
A Metric is a measurable number in the world with a clear resolution method. Any Fool can propose one. Once live, any Fool can Call it up or down. Each Metric has a cadence (hourly, daily, weekly, meta), a source of truth, and a settle schedule.
One cadence cycle of a Metric, e.g. one day.
A Period is one cadence cycle during which a Metric is open for Calls. Daily Metrics have one-day Periods that open at UTC midnight and close at the next UTC midnight. Periods are identified by their settle date, formatted as YYYY-MM-DD.
A 30-day revenue window on a Metric.
A Round is a 30-day window during which the Folly pays a lease to keep the Metric live and collects its share of trading revenue. At Round close the Folly can renew for the next 30 days or let the Metric archive. Round length is 30 days at launch.
How often a Metric resolves. Hourly, Daily, Weekly, or Meta.
Cadence is how often a Metric settles. Hourly Metrics resolve every hour, Daily every UTC midnight, Weekly on a set weekday. Meta Metrics track the platform itself. Cadence drives leverage caps, maintenance margins, and funding behavior.
Raw-number framing. PnL resolves against the number itself.
A Scalar Metric is priced directly on the measured value, not on a delta or rolling window. Tomorrow's high temperature is a Scalar. At each settle the book auto-closes against the resolved number per the auto-close-on-settle rule.
All open Calls close automatically at each settle.
Scalar Metrics auto-close every Call at cadence settle. The resolution value becomes the closing mark; PnL realizes; the Period ends. A fresh book opens for the next Period. Fools who want to stay in place a new Call on the new Period.
A direction prediction on a Metric. Up or Down.
A Call is both the act of predicting direction on a Metric and the resulting position. A Call has a side (up or down), a stake, a leverage, an entry mark, and a liquidation mark. Calls live inside a single Period and auto-close when the Period settles.
The USDC you put on a Call.
Stake is the amount of USDC committed to a Call. A stake multiplied by leverage gives notional exposure. Your maximum loss on a single Call is capped at the stake.
Multiplier on your stake. Capped per cadence.
Leverage multiplies your stake into notional exposure. Caps at launch: 5x for Hourly, 3x for Daily, 2x for Weekly. Higher leverage moves your blow-up mark closer to the entry.
The current live number on a Metric.
The Mark is the current implied value of the Metric based on trading flow. It moves as Fools Call up or down. At settle the Mark is replaced by the oracle resolution value.
The Mark at the moment your Call opened.
Entry is the Mark recorded when your Call was created. PnL is the difference between the closing value and your entry, times stake times leverage.
The Mark at which your Call liquidates.
Blow-up is the Mark at which your Call's equity falls below the maintenance margin and the keeper closes the position. The keeper takes a small reward, the rest of your stake flows to the insurance pool.
Minimum equity that keeps a Call alive inside a Period.
Maintenance margin is the minimum equity your Call must keep to stay open mid-Period. At launch: 5% for Hourly, 8% for Daily, 12% for Weekly. Fall below and the keeper liquidates the Call.
The bot that liquidates Calls that breach maintenance margin.
A keeper is a bot that watches open Calls and liquidates any that fall below the maintenance margin. The keeper earns 0.5% of notional on each liquidation; another 0.5% goes to the insurance pool.
The data source that resolves a Metric each Period.
The Oracle is the source of truth for a Metric. US weather comes from the National Weather Service API. Crypto spot prices come from Coinbase. Macro series come from FRED. Inventories come from EIA. Climate and space weather come from NOAA and NSIDC. Each Metric's Oracle, uptime, and endpoint are disclosed in the trust-signal block on the detail page.
Two-phase oracle publication: hash first, value later.
Commit-reveal is a two-phase publication pattern. On the fetch tick the Oracle posts a hash of the fetched value. On the settle tick it reveals the value itself, and the hash is verified. This prevents last-second value manipulation.
Rolling 30-day reliability of the Oracle feed.
Uptime is the rolling 30-day percentage of successful Oracle reads for this Metric. A sustained drop in uptime is a warning that the Oracle may be flaky.
The number the Oracle reveals at settle.
The Resolution value is the exact number the Oracle publishes at the Period's settle tick. All open Calls on that Period close against this value.
Current gap between the live Mark and the Oracle value.
The Mark-oracle gap is the percentage difference between the live Mark and the Oracle's latest read. If the gap exceeds a threshold the Metric auto-pauses to prevent a runaway.
USDC put up to make a Metric go live.
The Launch pool is the USDC backing a Metric's first Round. Floor amounts at launch: 200 USDC Weekly, 300 USDC Daily, 500 USDC Hourly. Founding Fools share the pool up to 40% per individual.
25 USDC refundable deposit the Proposer posts at submission.
The Proposer pledge is a 25 USDC refundable deposit posted when a Proposer submits a Metric. It is returned when the Metric launches cleanly and is slashed if the spec turns out to be fraudulent.
Share of Round revenue paid to Founding Fools.
The Founders' cut is a basis-points share of each Round's revenue paid to the Metric's Founding Fools in proportion to their launch-pool stake. It accrues Round by Round and pays out on exit.
USDC-denominated backstop funded from fees.
The Insurance pool is a platform-wide USDC pool funded by a slice of every trade fee plus liquidation penalties. It absorbs rare losses that would otherwise hit LPs. No platform token. No peg mechanism.
Flat USDC fee the Folly pays to keep a Metric live.
The Round lease is the flat USDC fee a Folly pays to keep a Metric live for the next 30 days. At launch: 10 USDC Weekly, 25 USDC Daily, 50 USDC Hourly. Split 80/20 platform margin over insurance contribution.
If something on the site does not match what you read here, the code wins. File an issue on the repo or poke a Fool in the team chat.