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After a market resolves, winning outcome tokens can be redeemed for $1.00 USDC each. Losing tokens are worthless.

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Before you redeem

Check that:
  1. The market status is Resolved (not Open or Voided)
  2. The 24-hour dispute window has passed (unless no dispute was filed)
  3. No active dispute is blocking redemption
  4. You hold winning-side tokens in Portfolio
See Resolution for the full timeline.

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How redemption works

Redemption is executed on-chain via the redeem instruction. The platform submits the transaction through your custodial wallet and you do not need to sign each redemption manually.

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Voided markets

If a market is voided (cancelled), use refund instead of redeem. All participants recover their stake rather than a winning side being declared.

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Parlays

Parlay payouts are separate from single-market redemption. When all legs resolve, the parlay pool pays winners via settle_parlay. See Build a parlay.

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Example

You bought 200 YES tokens at an average of 45¢ ($90 total cost). Team A wins.
  • Market resolves YES
  • After dispute window: redeem 200 YES → $200 USDC
  • Profit: 200−200 − 90 = $110 (before fees at mint time)
Track settled positions and P&L in Portfolio (/portfolio).