See how onchain systems
actually work.
Each course starts with a concrete question and a small simulation. Change the inputs, compare the results, and then read the rule behind them.
Will humans return to the Moon before 2028?
See how ten onchain systems connect
Drag a course to rearrange the map. Select it to see prerequisites, related courses, and your learning progress. Arrow keys also move a focused node.
Prediction Markets: How Views Become Prices
You do not need a finance or blockchain background. Six short lessons use characters, orders, and virtual credits to explain why a prediction market works—and why price is not truth.
View course →No prerequisite course.
A suggested order, from choosing a topic to reviewing it.
Choose a topic, read the course, try the example, then use the challenge and progress pages when you need them.
- 01Choose a startGoal + 3 boundary checks
- 02LearnStory, state, and rules
- 03VerifyChange the key variables
- 04ConnectTrace value across modules
- 05ReviewStrengthen weak boundaries
Choose a starting point in about 3 minutes
Choose what you want to understand and answer three boundary questions. We will explain why your route starts there.
Ten courses, each focused on one onchain system.
Each course combines a plain-language explanation with an interactive example. If you are unsure where to begin, use the recommendation above.
Prediction Markets
Follow a future-facing contract through collateral, orders, matching, price discovery, and resolution.
- YES 62 + NO 45 = 107. How can market probability exceed 100%?
- Why can executable YES and NO asks below 100 create arbitrage?
AMM
Reserves, LPs, slippage, arbitrage, and impermanent loss in one interactive pool.
- With no posted seller, why can a pool keep trading with me?
- LPs earn every trade fee. How can they still underperform holding?
Token Launch
Supply, allocation, vesting, dilution, burns, and multisig authority shape a token's power structure.
- Total supply is one billion. Why might only ten million be sellable?
- My token balance did not fall. How was I diluted?
Matching Engine
Limit and market orders, depth, priority, partial fills, and risk controls.
- Does a market order really mean ‘buy at any price’?
- The spread is only 1. Why can a large order still be expensive?
Oracles
Data sources, reports, challenge windows, economic bonds, and disputes define whether a system can trust the world outside the chain.
- Why can an honest oracle reporter still be wrong?
- Why aren’t ten APIs necessarily more decentralized than one?
Minimal Ledger
Signatures, nonces, transactions, blocks, and state transitions form the shared foundation of onchain finance.
- Why can a perfectly valid signature still produce a failed transaction?
- How can the same transaction set produce different balances when reordered?
Lending & Liquidation
Collateral, LTV, interest, health factor, oracle prices, and liquidation incentives.
- How can an overcollateralized loan still create bad debt?
- Can a loan be liquidated while price stays flat and the user does nothing?
Stablecoins
Peg targets, collateralized issuance, redemption arbitrage, reserves, and run risk.
- If a stablecoin trades at $1, is its peg mechanism healthy?
- A stablecoin falls to $0.90. Why might arbitrage not restore $1 immediately?
MEV & Ordering
Public mempools, sandwich trades, back-runs, and private order flow show how ordering power reallocates execution outcomes.
- How can others use a transaction before it is onchain?
- A backrun repairs price. Why call it value extraction?
Governance & Treasury
Proposals, voting power, quorum, delegation, timelocks, and treasury execution form one auditable authority chain.
- A proposal gets 99% YES. Why might the protocol remain unchanged?
- Does a two-day timelock guarantee a malicious proposal cannot hurt the protocol?