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PrediX

Redeem & Refund

Redeem winning tokens for $1 each, or burn YES+NO pairs to reclaim your USDC on unresolved markets. After a market resolves, exchange winning tokens for USDC. If a market cannot be resolved, use the refund flow.

Redeem vs Refund

Section titled “Redeem vs Refund”
🏆 Redeem🛡️ Refund
When
  • Market resolved cleanly
  • Market cannot be resolved (oracle down, dispute hung, multisig unresponsive)
Trigger
  • Automatic, oracle posts outcome
  • Admin enables via 48h timelock
What you submit
  • Winning tokens (YES or NO)
  • YES + NO pairs
Payout
  • $1 per winning share
  • 1 USDC per pair burned
Losing tokens
  • Worthless ($0)
  • Single-sided holders need workaround

Redeem - market has resolved

Section titled “Redeem - market has resolved”

Conditions:

  • market.isResolved == true
  • You hold the winning token (YES if outcome=true, NO if outcome=false)

How to Redeem Your Winnings

Section titled “How to Redeem Your Winnings”

  1. Step 1: Locate Finished Markets

    • Navigate to your Portfolio.
    • Use the filters to select Resolved markets. This will show you all events that have officially concluded.

  2. Step 2: Check for Eligibility

    • Look for the Redeem button next to each market.

  3. Step 3: Review the Preview

    Click the Redeem button to open a preview window showing:

    • Token Count: The total number of winning tokens you are turning in.
    • USDC to Receive: The total amount of USDC that will be credited to your account.

  4. Step 4: Confirm in Wallet

    • Click Confirm and authorize the transaction in your wallet (e.g., biometric authentication for passkeys or a signature for EOA).
    • The transaction typically completes in ~2 seconds on Unichain.

  5. Step 5: Settlement Complete

    • The USDC is deposited directly into your wallet balance.
    • Winning tokens are burned (removed from circulation), while losing tokens automatically drop to a value of $0.

Batch redeem

Section titled “Batch redeem”

Multiple resolved markets → click Claim All → batched via passkey smart account (1 click, 1 tx, gas via paymaster). EOA users: each market requires a separate tx (wallets do not support native batching). Both account types receive sponsor coverage if the user qualifies for the program.

Batch redeeming process

Losing tokens

Section titled “Losing tokens”
  • No longer have value.
  • Cannot be redeemed or traded (pool is drained).
  • They still appear in your wallet with a balance, but market value = $0. Hide them by removing from your watchlist.

Refund mode - market cannot be resolved

Section titled “Refund mode - market cannot be resolved”

When: Oracle is down, dispute is hung, multisig is unresponsive → admin enables refund mode via a 48h timelock.

Conditions:

  • market.refundModeActive == true
  • You hold both YES and NO

How to Claim a Refund

Section titled “How to Claim a Refund”

  1. Step 1: Identify Refundable Markets

    • Navigate to your Portfolio.
    • Look for markets displaying a Refund available badge. This indicates the event was cancelled or voided.

  2. Step 2: Initiate the Refund

    • Click the Refund button to open the preview panel.
    • Preview details: The system calculates the number of full pairs you hold - min(yesBalance, noBalance) and shows the exact amount of USDC to be returned.

  3. Step 3: Confirm in Wallet

    • Click Confirm and authorize the transaction in your wallet (e.g., Touch ID for passkey or MetaMask popup).
    • The transaction typically processes in ~2 seconds.

  4. Step 4: Completion

    • The USDC is returned directly to your wallet balance.
    • The corresponding YES + NO token pairs are burned (removed from your holdings) as the collateral is released.

Refund Formula

Section titled “Refund Formula”
refundAmount = min(yesBalance, noBalance)
payout       = refundAmount USDC (1:1)

Example: you hold 100 YES + 80 NO:

  • Refund 80 pairs → receive 80 USDC.
  • 20 YES remaining → no NO to pair with, cannot be refunded.

Who decides to enable refund

Section titled “Who decides to enable refund”

Refund mode prioritizes pro-rata fairness over first-come-first-serve. This prevents a scenario where early claimers drain all USDC, leaving nothing for later users.

Refund decision model