Automatic redemption

AGARA automatically redeems positions in supported resolved markets. You do not submit a transaction, sign a message, spend gas, or call a redemption endpoint.

Current support covers standalone binary AGARA markets. Neg-risk events are composed of binary member markets, but those member markets are not yet included in this flow.

What happens after resolution

When a supported market resolves:

1. Resting orders are cancelled with the MARKET_RESOLVED reason.
2. AGARA waits for earlier fills and position operations to finish settling.
3. Each held outcome produces its own REDEEM portfolio activity with the token, shares, payout, settlement transaction, and creation time.
4. Each share converts to collateral at the price its outcome resolved to, and both outcome balances clear. With a single winner, winning shares pay one unit each and losing shares pay zero. A split resolution pays each outcome its own price.
5. The private account stream sends a tokens_redeemed event for that account change, or payouts_redeemed for a split resolution.

Processing starts after resolution is confirmed, but it has no fixed completion time. Outstanding settlement or an in-flight account batch can delay it. The portfolio activities are the durable redemption records; the two outcome rows can appear at different times. tokens_redeemed and payouts_redeemed report the account change on the live stream.

Each REDEEM row's amount is its shares times the price its outcome paid, rounded down to the micro unit. Losing shares pay zero, so their row shows $0.00, not a cash deduction or the amount you paid for those shares. For example, 10 winning shares and 7 losing shares produce activities for $10.00 and $0.00, and your collateral balance increases by $10.00. The losing row shows a settlement price of 0¢.

Split resolutions

A market can resolve to a split instead of a single winner. Each outcome then pays its own price per share, and the two prices add up to one collateral unit. A market cancelled at even odds resolves as a 50/50 split. For a split that pays 37¢ per YES share and 63¢ per NO share:

The payout is rounded down to the micro unit separately for each outcome you hold, so a very small holding can pay zero. Both outcome balances still clear, and each outcome you held gets its own REDEEM row at its split price.

A split is proposed before it is final. While it is proposed, your positions are valued at the proposed prices and can no longer be sold. The proposal can still change, and the final split can follow it immediately; redemption starts only after the market resolves. On the streams, a split arrives as payouts_proposed and payouts_resolved on market_status and as payouts_redeemed on the account stream, never as a winner with an empty token.

Reconcile your trading state

Treat resolution as an asynchronous account change:

1. Watch market_resolved, or payouts_resolved for a split resolution, on the market_status stream.
2. Process order_cancelled events carrying MARKET_RESOLVED on the account stream.
3. On tokens_redeemed or payouts_redeemed for the resolved condition_id, refetch POST /trade/v1/portfolio/positions/list and GET /trade/v1/portfolio/summary.
4. Read GET /trade/v1/portfolio/activities until the REDEEM row appears for each outcome you held.
5. Use the cleared position state and updated cash_balance_micro before sizing new orders.

The account stream is live-only. If you reconnect, receive sequence_reset, or do not receive the redemption event, poll until the position rows clear and the REDEEM activities appear. Older redemptions may contain only a winning-outcome activity.

A redemption activity has this shape:

{
  "type": "REDEEM",
  "exchange": "AGARA",
  "id": "redeem:<uuid>",
  "condition_id": "0x...",
  "token_id": "<winning-token-id>",
  "shares_micro": "1000000",
  "amount_micro": "1000000",
  "tx_hash": "0x...",
  "created_at": "2026-07-20T12:00:00.000Z"
}

For 7 losing shares, token_id identifies the losing token, shares_micro is "7000000", and amount_micro is "0". On a split that pays 63¢ per NO share, 7 NO shares give amount_micro: "4410000".

Frozen accounts and missing payouts

If your account is frozen when on-chain redemption completes, AGARA holds the collateral credit until the account is unfrozen. The balance updates, and tokens_redeemed or payouts_redeemed is sent, after the freeze is removed.

For a supported standalone binary market, contact support if its position remains after resolution and your earlier fills and account batches have finished. Include the condition_id and your deposit-wallet address.

See Positions for split and merge operations, and Inventory for quoting with binary outcome tokens.