Split & Merge
Last updated
Split and Merge enable direct conversion between trading currency and Shares.
Split and Merge are powered by a Conditional Token Framework (CTF) — direct conversion between collateral and Share pairs, with no orderbook fees.
Divides trading currency into Yes Shares + No Shares (or Up + Down Shares).
$1 BILL → 1 Yes Share + 1 No Share (only one side settles at $1.00.)Splitting $100 yields:
100 Yes Shares + 100 No Shares
Fee: None
Hedge / Arbitrage: Split to hold both sides, then sell at favorable prices — useful for hedging or capturing arbitrage spreads when Yes + No > $1.000
Provide Liquidity: Place Limit Orders on both sides to earn Maker Rebate
Combines Yes Shares + No Shares (or Up + Down Shares) back into trading currency.
Merging 100 Yes Shares + 100 No Shares yields:
$100
Fee: None
Must hold equal quantities of Yes and No (or Up and Down) Shares
Maximum Merge quantity = min(Yes Shares, No Shares)
Position Exit: Convert Shares on both sides into trading currency instantly without the Orderbook
Arbitrage: Buy both sides on the market for a combined price below $1.000, then Merge to capture the spread
Direction
$BILL → Shares
Shares → $BILL
Input
Amount (integer)
Shares quantity (integer)
Output
Yes + No Shares (equal quantity)
$BILL
Fee
None
None
Requirement
Sufficient balance
Equal quantity of Yes/No Shares held
Last updated
1 Yes Share + 1 No Share → $1 BILL