> For the complete documentation index, see [llms.txt](https://docs.cr8.fun/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.cr8.fun/how-it-works.md).

# How it works

Every crate ends on the same choice: **position or coins**.

1. **Open a crate.** The draw picks a market, a side and leverage — and the worst case is printed on the box before you open it.
2. **Take the position** — it opens live on a real venue, and you watch it from the moment the card flips. Floors are honored no matter what the market does.
3. **Or take coins** — your crate money buys $CRATE in the next epoch batch, quoted as a floor and settled at floor or better.

For the free-crate campaign the flow is even shorter: connect the wallet you trade with, sign one message (free, no gas), open, keep what you win.


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