# Core Concepts

- [Protocol Flow](/core-concepts/protocol-flow.md)
- [Shadow Liquidity](/core-concepts/shadow-liquidity.md): The core innovation powering zero-capital prediction markets
- [Bonding Curve Mechanics](/core-concepts/bonding-curve.md)
- [Graduation Protocol](/core-concepts/graduation.md)
- [Order Book Trading](/core-concepts/order-book.md)
- [Market Resolution](/core-concepts/resolution.md): How markets are resolved using UMA's Optimistic Oracle