gavindiaz/PolymarketDocumentation
1
0
Fork 0
Code Issues Pull Requests Actions Packages Projects Releases Wiki Activity

docs: sync with official Polymarket docs - 2026-04-20

Browse Source
This commit is contained in:
Etherdrake
2026-04-20 01:19:37 +02:00
parent 3ad0048c35
commit ff4882db02
50 changed files with 705 additions and 1857 deletions
Download Patch File Download Diff File Expand all files Collapse all files
docs/market-makers/inventory.md
+38 -38
View File
@@ -6,7 +6,7 @@
> Managing outcome token inventory for market making
Market makers need outcome tokens on both sides to quote a market. The three core inventory operations are **splitting** USDC.e into YES/NO token pairs, **merging** pairs back into USDC.e, and **redeeming** winning tokens after resolution — all executed gaslessly through the Relayer Client.
Market makers need outcome tokens on both sides to quote a market. The three core inventory operations are **splitting** pUSD into YES/NO token pairs, **merging** pairs back into pUSD, and **redeeming** winning tokens after resolution — all executed gaslessly through the Relayer Client.
<Info>
For a full breakdown of how the Conditional Token Framework works, see [CTF
@@ -16,9 +16,9 @@ Market makers need outcome tokens on both sides to quote a market. The three cor
***
## Splitting USDC.e into Tokens
## Splitting pUSD into Tokens
Split converts USDC.e into equal amounts of YES and NO tokens — creating the inventory you need to quote both sides of a market.
Split converts pUSD into equal amounts of YES and NO tokens — creating the inventory you need to quote both sides of a market.
<CodeGroup>
```typescript TypeScript theme={null}
@@ -27,19 +27,19 @@ Split converts USDC.e into equal amounts of YES and NO tokens — creating the i
import { RelayClient, Transaction } from "@polymarket/builder-relayer-client";
const CTF_ADDRESS = "0x4D97DCd97eC945f40cF65F87097ACe5EA0476045";
const USDCe_ADDRESS = "0x2791Bca1f2de4661ED88A30C99A7a9449Aa84174";
const pUSD_ADDRESS = "0xC011a7E12a19f7B1f670d46F03B03f3342E82DFB";
const ctfInterface = new Interface([
"function splitPosition(address collateralToken, bytes32 parentCollectionId, bytes32 conditionId, uint[] partition, uint amount)",
]);
// Split $1000 USDCe into YES/NO tokens
const amount = ethers.utils.parseUnits("1000", 6); // USDCe has 6 decimals
// Split $1000 pUSD into YES/NO tokens
const amount = ethers.utils.parseUnits("1000", 6); // pUSD has 6 decimals
const splitTx: Transaction = {
to: CTF_ADDRESS,
data: ctfInterface.encodeFunctionData("splitPosition", [
USDCe_ADDRESS, // collateralToken
pUSD_ADDRESS, // collateralToken
ethers.constants.HashZero, // parentCollectionId (always zero for Polymarket)
conditionId, // conditionId from market
[1, 2], // partition: [YES, NO]
@@ -48,7 +48,7 @@ Split converts USDC.e into equal amounts of YES and NO tokens — creating the i
value: "0",
};
const response = await client.execute([splitTx], "Split USDCe into tokens");
const response = await client.execute([splitTx], "Split pUSD into tokens");
const result = await response.wait();
console.log("Split completed:", result?.transactionHash);
```
@@ -57,7 +57,7 @@ Split converts USDC.e into equal amounts of YES and NO tokens — creating the i
from web3 import Web3
CTF_ADDRESS = "0x4D97DCd97eC945f40cF65F87097ACe5EA0476045"
USDCe_ADDRESS = "0x2791Bca1f2de4661ED88A30C99A7a9449Aa84174"
pUSD_ADDRESS = "0xC011a7E12a19f7B1f670d46F03B03f3342E82DFB"
ctf_abi = [{
"name": "splitPosition",
@@ -72,8 +72,8 @@ Split converts USDC.e into equal amounts of YES and NO tokens — creating the i
"outputs": []
}]
# Split $1000 USDCe into YES/NO tokens
amount = 1000 * 10**6 # USDCe has 6 decimals
# Split $1000 pUSD into YES/NO tokens
amount = 1000 * 10**6 # pUSD has 6 decimals
split_tx = {
"to": CTF_ADDRESS,
@@ -82,7 +82,7 @@ Split converts USDC.e into equal amounts of YES and NO tokens — creating the i
).encode_abi(
abi_element_identifier="splitPosition",
args=[
USDCe_ADDRESS,
pUSD_ADDRESS,
bytes(32), # parentCollectionId (always zero)
condition_id, # conditionId from market
[1, 2], # partition: [YES, NO]
@@ -92,7 +92,7 @@ Split converts USDC.e into equal amounts of YES and NO tokens — creating the i
"value": "0"
}
response = client.execute([split_tx], "Split USDCe into tokens")
response = client.execute([split_tx], "Split pUSD into tokens")
response.wait()
```
@@ -103,25 +103,25 @@ Split converts USDC.e into equal amounts of YES and NO tokens — creating the i
let ctf_client = CtfClient::new(provider, 137)?;
// Split $1000 USDCe into YES/NO tokens
// Split $1000 pUSD into YES/NO tokens
let request = SplitPositionRequest::builder()
.collateral_token(address!("0x2791Bca1f2de4661ED88A30C99A7a9449Aa84174"))
.collateral_token(address!("0xC011a7E12a19f7B1f670d46F03B03f3342E82DFB"))
.condition_id(condition_id)
.partition(vec![U256::from(1), U256::from(2)])
.amount(U256::from(1000_000_000u64)) // 1000 USDCe (6 decimals)
.amount(U256::from(1000_000_000u64)) // 1000 pUSD (6 decimals)
.build();
let result = ctf_client.split_position(&request).await?;
println!("Split tx: {:?}", result.transaction_hash);
```
</CodeGroup>
After splitting 1000 USDC.e, you receive 1000 YES tokens and 1000 NO tokens. Your USDC.e balance decreases by 1000.
After splitting 1000 pUSD, you receive 1000 YES tokens and 1000 NO tokens. Your pUSD balance decreases by 1000.
***
## Merging Tokens to USDC.e
## Merging Tokens to pUSD
Merge converts equal amounts of YES and NO tokens back into USDC.e — useful for reducing exposure, exiting a market, or freeing up capital.
Merge converts equal amounts of YES and NO tokens back into pUSD — useful for reducing exposure, exiting a market, or freeing up capital.
<CodeGroup>
```typescript TypeScript theme={null}
@@ -129,13 +129,13 @@ Merge converts equal amounts of YES and NO tokens back into USDC.e — useful fo
"function mergePositions(address collateralToken, bytes32 parentCollectionId, bytes32 conditionId, uint[] partition, uint amount)",
]);
// Merge 500 YES + 500 NO back to 500 USDCe
// Merge 500 YES + 500 NO back to 500 pUSD
const amount = ethers.utils.parseUnits("500", 6);
const mergeTx: Transaction = {
to: CTF_ADDRESS,
data: ctfInterface.encodeFunctionData("mergePositions", [
USDCe_ADDRESS,
pUSD_ADDRESS,
ethers.constants.HashZero,
conditionId,
[1, 2],
@@ -144,7 +144,7 @@ Merge converts equal amounts of YES and NO tokens back into USDC.e — useful fo
value: "0",
};
const response = await client.execute([mergeTx], "Merge tokens to USDCe");
const response = await client.execute([mergeTx], "Merge tokens to pUSD");
await response.wait();
```
@@ -162,7 +162,7 @@ Merge converts equal amounts of YES and NO tokens back into USDC.e — useful fo
"outputs": []
}]
# Merge 500 YES + 500 NO back to 500 USDCe
# Merge 500 YES + 500 NO back to 500 pUSD
amount = 500 * 10**6
merge_tx = {
@@ -171,36 +171,36 @@ Merge converts equal amounts of YES and NO tokens back into USDC.e — useful fo
address=CTF_ADDRESS, abi=merge_abi
).encode_abi(
abi_element_identifier="mergePositions",
args=[USDCe_ADDRESS, bytes(32), condition_id, [1, 2], amount]
args=[pUSD_ADDRESS, bytes(32), condition_id, [1, 2], amount]
),
"value": "0"
}
response = client.execute([merge_tx], "Merge tokens to USDCe")
response = client.execute([merge_tx], "Merge tokens to pUSD")
response.wait()
```
```rust Rust theme={null}
use polymarket_client_sdk::ctf::types::MergePositionsRequest;
// Merge 500 YES + 500 NO back to 500 USDCe
// Merge 500 YES + 500 NO back to 500 pUSD
let request = MergePositionsRequest::builder()
.collateral_token(address!("0x2791Bca1f2de4661ED88A30C99A7a9449Aa84174"))
.collateral_token(address!("0xC011a7E12a19f7B1f670d46F03B03f3342E82DFB"))
.condition_id(condition_id)
.partition(vec![U256::from(1), U256::from(2)])
.amount(U256::from(500_000_000u64)) // 500 USDCe (6 decimals)
.amount(U256::from(500_000_000u64)) // 500 pUSD (6 decimals)
.build();
let result = ctf_client.merge_positions(&request).await?;
```
</CodeGroup>
After merging 500 of each, your YES and NO balances decrease by 500 and your USDC.e balance increases by 500.
After merging 500 of each, your YES and NO balances decrease by 500 and your pUSD balance increases by 500.
***
## Redeeming After Resolution
Once a market resolves, redeem winning tokens for USDC.e. Each winning token is worth $1 — losing tokens redeem for $0.
Once a market resolves, redeem winning tokens for pUSD. Each winning token is worth $1 — losing tokens redeem for $0.
### Check Resolution Status
@@ -241,7 +241,7 @@ Once a market resolves, redeem winning tokens for USDC.e. Each winning token is
const redeemTx: Transaction = {
to: CTF_ADDRESS,
data: ctfInterface.encodeFunctionData("redeemPositions", [
USDCe_ADDRESS,
pUSD_ADDRESS,
ethers.constants.HashZero,
conditionId,
[1, 2], // Redeem both YES and NO (only winners pay out)
@@ -272,7 +272,7 @@ Once a market resolves, redeem winning tokens for USDC.e. Each winning token is
address=CTF_ADDRESS, abi=redeem_abi
).encode_abi(
abi_element_identifier="redeemPositions",
args=[USDCe_ADDRESS, bytes(32), condition_id, [1, 2]]
args=[pUSD_ADDRESS, bytes(32), condition_id, [1, 2]]
),
"value": "0"
}
@@ -285,7 +285,7 @@ Once a market resolves, redeem winning tokens for USDC.e. Each winning token is
use polymarket_client_sdk::ctf::types::RedeemPositionsRequest;
let request = RedeemPositionsRequest::builder()
.collateral_token(address!("0x2791Bca1f2de4661ED88A30C99A7a9449Aa84174"))
.collateral_token(address!("0xC011a7E12a19f7B1f670d46F03B03f3342E82DFB"))
.condition_id(condition_id)
.index_sets(vec![U256::from(1), U256::from(2)]) // Redeem both (only winners pay)
.build();
@@ -297,11 +297,11 @@ Once a market resolves, redeem winning tokens for USDC.e. Each winning token is
## Negative Risk Markets
Multi-outcome markets use the Neg Risk CTF Exchange. Split and merge work the same way, but use different contract addresses:
Multi-outcome markets use the Neg Risk CTF Exchange and Neg Risk Adapter. Split and merge work the same way, but use different contract addresses:
```typescript theme={null}
const NEG_RISK_CTF_EXCHANGE = "0xe2222d279d744050d28e00520010520000310F59";
const NEG_RISK_ADAPTER = "0xd91E80cF2E7be2e162c6513ceD06f1dD0dA35296";
const NEG_RISK_CTF_EXCHANGE = "0xC5d563A36AE78145C45a50134d48A1215220f80a";
```
See [Negative Risk Markets](/advanced/neg-risk) for details on how multi-outcome token mechanics differ.
@@ -313,7 +313,7 @@ See [Negative Risk Markets](/advanced/neg-risk) for details on how multi-outcome
### Before Quoting
1. Check market metadata via the [Gamma API](/market-data/fetching-markets)
2. Split sufficient USDC.e to cover your expected quoting size
2. Split sufficient pUSD to cover your expected quoting size
3. Set token approvals if not already done (see [Getting Started](/market-makers/getting-started))
### During Trading
@@ -341,7 +341,7 @@ const transactions: Transaction[] = [
{
to: CTF_ADDRESS,
data: ctfInterface.encodeFunctionData("splitPosition", [
USDCe_ADDRESS,
pUSD_ADDRESS,
ethers.constants.HashZero,
conditionIdA,
[1, 2],
@@ -353,7 +353,7 @@ const transactions: Transaction[] = [
{
to: CTF_ADDRESS,
data: ctfInterface.encodeFunctionData("splitPosition", [
USDCe_ADDRESS,
pUSD_ADDRESS,
ethers.constants.HashZero,
conditionIdB,
[1, 2],