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Every market uses SPL tokens to represent shares:
  • YES tokens = outcome happens
  • NO tokens = outcome doesn’t happen
  • Each pair is backed by 1 USDC

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Minting & Burning

Mint: 1 USDC → 1 YES + 1 NO Burn: 1 YES + 1 NO → 1 USDC This mechanism ensures:
  • YES + NO ≈ $1 (price integrity)
  • Always-available liquidity
  • Capital efficiency in multi-outcome markets

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Why This Matters

If the order book is thin, you’re never stuck. Mint a pair for $1, sell the side you don’t want. This creates your own liquidity without relying on other traders.

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Arbitrage Enforcement

If YES = $0.65 and NO = $0.40 (sum = $1.05), arbitrageurs can:
  1. Buy both for $1.05
  2. Burn for $1.00
  3. Repeat until prices balance This keeps YES + NO ≈ $1 across all markets.
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