> ## Documentation Index
> Fetch the complete documentation index at: https://docs.ezpz.fi/llms.txt
> Use this file to discover all available pages before exploring further.

# Refunds (voided markets)

> Recover your stake when a market is cancelled or voided.

When a market is **voided**, there is no winning side. Instead of redeeming tokens for \$1.00, participants **refund** their positions and recover USDC from the market vault.

## Void vs resolve

| Status       | Outcome            | What you do                                            |
| ------------ | ------------------ | ------------------------------------------------------ |
| **Resolved** | YES or NO wins     | Winners [redeem](/trading/redeem) for \$1.00 per token |
| **Voided**   | No winner declared | All participants **refund** stake                      |

## When markets are voided

A market may be voided if:

* An **operator or maker** cancels it before or after the event
* It remains **unresolved 7 days** after expiry (permissionless auto-void)
* Integrity rules trigger a refund (e.g. maker ban with pending predictions)

See [Resolution](/concepts/resolution) for the full lifecycle.

## How refunds work

```mermaid theme={null}
flowchart LR
  Tokens[Your YES + NO tokens] --> Burn[Burn on-chain]
  Burn --> Vault[Market USDC vault]
  Vault --> You[Your custodial wallet]
```

Refunds return your **net stake** — the USDC backing your position after mint-time fees were skimmed. Platform and maker fees collected at mint are not reversed.

## What you need to do

<Steps>
  <Step title="Check market status">
    Open the market or **Portfolio** (`/portfolio`). Status should show **Voided**.
  </Step>

  <Step title="Claim refund">
    Use the **Refund** action in Portfolio or on the market detail page when available.
  </Step>

  <Step title="Confirm balance">
    USDC returns to your custodial wallet after on-chain confirmation.
  </Step>
</Steps>

The platform submits the refund transaction through your custodial wallet — no per-action wallet popup.

## Parlays

If **all legs** of a parlay are voided, you receive a **full stake refund** from the parlay pool. If only some legs void, odds are recalculated on the remaining legs. See [Parlays](/concepts/parlays).

## Refund vs redeem

| Action     | When                              | Result                            |
| ---------- | --------------------------------- | --------------------------------- |
| **Refund** | Market voided                     | Recover stake; no winner declared |
| **Redeem** | Market resolved, you hold winners | \$1.00 per winning token          |

## Related

* [Redeem tokens](/trading/redeem) — after a normal resolution
* [Resolution & disputes](/concepts/resolution) — void rules and auto-void
* [Portfolio](/guides/portfolio) — track voided positions