what is the price of conviction? conviction can be rational. conviction can be irrational. conviction can fade. conviction can compound. conviction can be infinite. and now, conviction can be tokenized. introducing catalyst — markets for moments. everyone has an opinion about what happens next. but an opinion costs nothing. conviction is what you’re willing to put behind your view. catalyst turns that conviction into a live market around a real-world event. — we’re starting with social interactions: posts, follows, replies, mentions, and other moments that happen online. but the primitive goes much further: earnings calls. token listings. product launches. breaking news. onchain events. anywhere there’s a catalyst that can move an asset, there can be a market before it happens. — every catalyst market has two sides. fuse — conviction that it happens. fuse is a token you can buy, hold, and trade for as long as the event hasn’t occurred. its price reflects the market’s live conviction. add, reduce, or exit at any time. fade — conviction that it doesn’t. instead of buying fuse, traders can deposit into the fade pool. while the catalyst hasn’t fired, fade earns from fuse trading activity. but if the event happens, the entire fade pool becomes additional value for fuse holders. — then comes fire. the moment the catalyst event occurs, the market doesn’t simply resolve. it converts. fuse liquidity is automatically used to acquire the predetermined outcome asset. those assets are distributed pro rata to fuse holders, along with the entire fade pool. instantly. a mechanic unique to the composable and programmable market structure of onchain tokens. the goal is simple: position before the catalyst, not after the market reacts. — fuse the conviction. fade the event. fire into the outcome. catalyst is live. markets for moments.