A claim on a payment that has not happened yet.
01 / What a claim is
Every market has two tokens, YES and NO. Deposit $5,000 and you get one of each. The deposit stays in the contract until the question is answered.
The winning side is then worth $5,000 and the losing side is worth nothing. Hand back one YES and one NO together at any time and you get your $5,000 back, because the pair is always worth the deposit.
So a YES price is what the market thinks the outcome is worth. At $1,500 the market is saying about 30% likely.
02 / How resolution works
Anyone can propose the answer by posting a bond. If nobody objects for 48 hours the answer stands and the bond comes back.
Anyone can dispute it by posting twice the bond. That sends the question to the resolver council. Whichever side the council agrees with takes both bonds. The council can also reject a proposal without answering, which voids it and reopens the market.
A NO answer cannot be proposed before the deadline, because until then the question has not failed yet. Once answered, the answer is permanent. No owner, no pause, no way to change it.
03 / Each outcome
- Yes
- It happened. Each YES is worth $5,000, each NO nothing.
- No
- It did not happen by the deadline. Each NO is worth $5,000, each YES nothing.
- Invalid
- The question was unanswerable as written. Both sides are worth half, so nobody takes the other side's collateral.
The collateral was there the whole time. The contracts cannot pay out more than was deposited, or less.
There are three markets rather than one, because a dividend can fail at three points: a bill can pass and no money move, and money can move at a smaller amount than promised. YES trades against the HOOD stock token, which moves around the clock on this chain. To take the NO side, deposit $5,000, keep the NO and sell the YES.
See the markets