Venue One 101

A guide to onboarding and interacting with the Venue One protocol on testnet


Go the testnet homepage and enter your desired email to sign up. You will then receive an email on the address you entered in the previous step with guidelines for your passwordless onboarding process. You go back to the previous opened testnet tab and you’re ready to go in a few seconds. Note, we will be adding 2FA for extra layer of security of your account on mainet.

Now that you are logged in, you can proceed with depositing funds to your account. In the main page you can select “My Account” and in the next page you can select “Deposit Funds”. Then, you will be prompted at the deposit funds page where you can choose the way you want to fund your account out via several options available. Currently onboarding of USDC Circle on Algorand is supported, with more cross chain options and fiat coming soon. Note there is no need to opt-in for the USDC ASA, this is done automatically.


Select your desired market and choose the position you want to take. Note that markets in Venue one are binary, that means there are two mutually exclusive outcomes to choose from. Thus, in the “Pick an outcome” box, you may select Yes if you believe that market’s outcome will be Yes, and No, if not. The market will be resolved to Yes or No and at any given point in time the crowd driven price discovery makes the Yes/No percentages fluctuate. It is important to check the market details at the bottom of the page, where you can find a brief description about the market, when, and how it will be resolved. Finally, in “How much?” box you can enter the amount of USDC you trade to place on the market, next to the dollar sign.

After completing this step you can always check your transactions in “My account”->”View Positions History”. Note there may be a slight delay for your positions to be updated as we await confirmation from the blockchain and we queue some processes for efficiency.

In case you want to sell your shares and exit your position, you can move to the “Exit” tab and select the outcome you initially chose when taking position. In the “How much?” box you can see the amount of shares you own, based on the probabilities of “Yes” and “No” at the specific moment. Note that this amount of shares is the maximum you can sell at that point.

Liquidity Provision

You can also add liquidity to them and take advantage of the Liquidity Provider (LP) fees of 2%. Other than that, you will earn $VENO tokens and you offer pricing stability to the markets by providing two way markets aroun d the current price for both yes and no outcomes. Liquidity importance along with advantages and disadvantages will be analyzed in further detail in a future blog post. To add liquidity to a market, you just go to your desired market, select “Add Liquidity” and then the amount of money you want to add as an LP. Before completing your transaction you may then review the summary, and complete the procedure by selecting “Add Liquidity”. You can always click anywhere else to exit this page, in case you wish to make any changes, or not adding liquidity at all.

In case you want to remove liquidity from a market, before its resolution, you can select “Remove Liquidity” at the bottom left of the page inside each market. You can select the amount of shares you want to remove or select “Max” to remove them all and in the pop up window that will open you can see the amount you are entitled to, based on the percentages of the outcomes the moment you added liquidity and the moment you removed it. To complete the procedure and see the amount in your available cash you must select “merge shares” at the bottom left. This selection will be available a few seconds after you have removed liquidity.


On the open positions tab one can see a summary of their open amount of current exposure on each market, current value, and PnL. Furthermore, on the right side we can see the status of the market:

  • Open: Still available for trading, taking position or exit already taken position.
  • Resolution Pending: Closing date of the market has passed and we are waiting for the result.
  • Resolved: The user can open the market and redeem profits, if any.

If you have added liquidity on the market, and taken position as well, this means that you can remove liquidity first, and receive your LP shares. Those shares will be merged with the shares from your position that won and can be redeemed by selecting “Redeem Payout”. The shares of the liquidity that you will receive depend on the amount of liquidity you have added, the price at the point of liquidity compared to the prices when the market closed, and the LP fees that you have accrued.

Venue One’s mission is to create the best global decentralized prediction market, using the fast Algorand blockchain as our core engine.

Follow us on our journey 👇

Join our Discord trading community:

Be a part of our global Telegram community:

Follow us on Twitter : @VenueMarkets

More information and for the $VENO whitelist please go to :



Decentralized Prediction Protocol. Global, fast, intuitive. Built on Algorand.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Venue One

Decentralized Prediction Protocol. Global, fast, intuitive. Built on Algorand.