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Converting 1 “No” Share

If you hold a No share in a Negrisk market (like “ETH is NOT $2,000 on Friday”), you can convert it into 1 Yes share of all the other outcomes. Why? Because only one outcome can be true, so a No on one is logically equivalent to a bet for the others. This lets you switch positions quickly and cheaply — without selling one share and buying another.
Convert shares interface
Access the Convert button from the portfolio tab in each market.

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Converting Multiple “No” Shares

If you hold multiple No shares and there aren’t enough remaining Yes shares to convert into, you can convert the extras into USDC. The combined value of “Event” and “Not Event” in a Negrisk market always adds up to $1. Example: If you hold 5 No shares in a 3-outcome market:
  • Convert 1 into a Yes of the remaining outcome
  • Receive USDC for the second
Multi-share conversion
It’s built-in arbitrage that helps keep prices aligned — and it’s gas-efficient.