# Gaia Markets

> Gaia Markets is a permissionless parametric risk-transfer protocol for natural events (wind, rainfall, river height, temperature). It uses decentralized prediction markets as a real-time actuarial pricing engine, then lets buyers purchase event-based protection from a fully collateralised underwriting pool through continuous secondary auctions.

## Product

Gaia separates event probability from demand for protection: a primary prediction market discovers the probability of an event, while a secondary auction lets buyers pay a transparent premium over that price for size, certainty, and immediate execution. The protocol is a sovereign blockchain built on Commonware's simplex consensus, with a fully on-chain CLOB and trustless, validator-run contract resolution.

## Pages

- [Home](/): Coming-soon landing with the hero, problem/solution overview, how it works, participants, money flow, sample markets, roadmap, and waitlist signup.
- [Markets](/markets): Browse active parametric risk markets with probability, cost per $1 of cover, 24h volume, and expiry.
- [Market detail](/markets/miami-dade): A single market — trigger conditions, market depth, probability, and a cover/order panel.
- [Buy cover](/markets/miami-dade/buy): Review and place a cover bid in the batch auction flow.
- [Portfolio](/portfolio): Your active cover positions and history.
- [Liquidity](/liquidity): Provide liquidity to the underwriting pool and receive SHARE units.
- [Trade](/trade): Pro trading view with order book, chart, and order ticket for YES/NO units.

## Key Concepts

- **Primary market**: A prediction-market CLOB where YES/NO unit pairs are minted 1:1 per USD deposited; the YES price is the market-implied probability of the event.
- **Secondary market**: A continuous auction that issues YES units (cover) at a buyer-set premium over the primary VWAP, without moving the underlying price. The protocol writes the fully collateralised NO side from its Underwriting Pool.
- **Underwriting Pool**: Central collateral that backs secondary-market cover; liquidity providers deposit USD and receive SHARE units entitling them to protocol revenue.
- **Solvency Fund**: A separate buffer, funded by base auction clearing amounts plus a network-configured share of fees/premiums, that replenishes the Underwriting Pool.
- **Trustless resolution**: Validators determine contract outcomes from parametrised data sources using the same protocol they use for block consensus — precise, instant, and decentralised.

## Tech

- Sovereign blockchain (Commonware simplex consensus, 100ms blocks, BFT security)
- Fully on-chain central limit order book
- Frontend: Dioxus (Rust → WebAssembly), fullstack with a native indexer