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Market Lifecycle

Markets go through a clear lifecycle from creation to resolution.

Lifecycle Stages​

Market Lifecycle Diagram

Stage Details​

1. Pending​

  • Market contract deployed
  • Creator places initial trade
  • Waiting for someone to match on opposite side
  • Can be canceled by creator or auto-cancels after 24 hours

2. Active​

  • Market matched and activated
  • Trading open on both sides
  • Pools grow as users trade
  • Prices update dynamically based on pool sizes

3. Closed​

  • Trading stops at close time
  • Positions lock
  • No new trades allowed
  • Waiting for resolution

4. Resolved​

  • Outcome determined (YES, NO, or CANCELLED)
  • Redemption enabled
  • Winners can redeem tokens for USDC
  • Losers' tokens become worthless

On-Chain State​

The contract tracks:

  • isActive: Whether market is trading
  • isResolved: Whether market has been resolved
  • outcome: The final outcome (NONE, YES, NO, CANCELLED)
  • yesPool / noPool: Current pool sizes
  • requiredMatchAmount: Amount needed to match (pending markets)

State Transitions​

All state transitions happen on-chain:

  • Pending → Active: When matching trade is placed
  • Active → Closed: Automatically at close time (handled off-chain)
  • Closed → Resolved: When admin calls resolveMarket()
  • Any → Canceled: When admin or creator cancels