Branches

Split, merge and redeem are the three moves of a branch token. None of them is priced, and none carries a fee.

Split

Splitting deposits n of a token into the event’s vault for that token. You receive n of its YES token and n of its NO token. The vault holds n more.

SOL·YES

SOL·NO

One SOL split: one SOL·YES and one SOL·NO, level until they are priced.

Any listed asset can be split, and so can the quote: splitting 250 USDC gives 250 USDC·YES and 250 USDC·NO.

Merge

Merging returns n YES and n NO of the same token and releases n of the token from the vault. A matched pair merges at any time, before and after resolution.

Redeem

Once an event has resolved, each token of the winning branch redeems 1:1 for the underlying from the vault. Tokens of the other branch redeem for nothing.

SOL·YES

SOL·NO

Resolved YES: the YES half stays and redeems 1:1. The NO half leaves along the cut.

Redeem all, in the portfolio, redeems every resolved holding of a wallet in one pass.

The vault invariant

Splitting n mints n of each branch token and adds n to the vault. Merging burns n of each and releases n. So before resolution the vault’s balance equals the supply of each branch mint.

After resolution only the winning mint redeems, 1:1. The vault always covers every redemption.