Ever wonder what really moves the market when you hit that buy button?

It's not just traders battling it out. Behind every trade, algorithms are calling the shots on how your order shifts the price.

Three models dominate the game:

CDA (Continuous Double Auction) – Raw PvP action. Your order meets theirs, no middleman smoothing things out. Fast, brutal, transparent.

LMSR (Logarithmic Market Scoring Rule) – The curve whisperer. Great for keeping liquidity around, but suffers when things get wild. Think prediction markets that don't want to blow up on you.

CLOB (Central Limit Order Book) – The speed demon. Milliseconds matter here. Latency kills profits. This is where high-frequency plays live and die.

Each system rewrites the rules of engagement. Same asset, different battlefield.