Docs/Market mechanics/Market lifecycle
Market lifecycle
Follow a market from verified template creation through collateralization, trading, resolution, and redemption.
Lifecycle#
1
Create
The factory deploys a registered verified template or an explicitly unverified resolver clone.
2
Collateralize
Depositing one collateral unit mints one YES plus one NO share.
3
Trade and check
Orders exchange outcome shares while anyone may call the market's state reader.
4
Redeem
After resolution, each winning share redeems exactly one collateral unit with no fee.
State transitions#
| State | Available actions | Exit |
|---|---|---|
| Open | Mint, merge, create/fill/cancel orders, check, update metadata. | Successful condition or deadline settlement. |
| Resolved YES | Redeem YES; cancel unfilled orders. | Final. |
| Resolved NO | Redeem NO; cancel unfilled orders. | Final. |