> ## Documentation Index
> Fetch the complete documentation index at: https://docs.limitless.exchange/llms.txt
> Use this file to discover all available pages before exploring further.

# Market Resolution

> How markets are resolved on Limitless Exchange

## Overview

Every market on Limitless has a defined resolution condition and deadline. When the deadline passes, the market is resolved based on objective data from the designated oracle source.

## Resolution Process

<Steps>
  <Step title="Market deadline passes">
    Each market has a specific deadline (e.g., "Feb 16, 17:00 UTC"). No new trades are accepted after this time.
  </Step>

  <Step title="Oracle reports the outcome">
    The designated oracle source provides the verified result. The majority of markets are now resolved automatically by **Pyth Network**.
  </Step>

  <Step title="Team reviews (if needed)">
    For manually resolved markets, the Limitless team reviews the outcome against the resolution criteria defined on the market page. Resolution typically occurs within **24–72 hours** of the market deadline, depending on event complexity and data availability.
  </Step>

  <Step title="Winning shares pay out">
    Winning shares ("Yes" or "No" depending on outcome) are redeemable for \$1.00 each after the payout has been settled on-chain. Losing shares become worthless.
  </Step>
</Steps>

## Claiming vs. Selling Before Resolution

Redeeming winning shares after a market resolves is **not the same** as selling them on the order book before resolution:

| Action                     | When                                                        | Payout                                  | Fees                                                                              |
| -------------------------- | ----------------------------------------------------------- | --------------------------------------- | --------------------------------------------------------------------------------- |
| **Claim / redeem**         | After the market resolves and the on-chain payout is posted | Exactly \$1.00 USDC per winning share   | No trading fee on the redemption itself                                           |
| **Sell on the order book** | Anytime before resolution (or before you claim)             | Current market price (less than \$1.00) | Taker fee applies if the order matches immediately (see [Fees](/user-guide/fees)) |

<Note>
  If you sold or accepted "claim now" liquidity on the order book before resolution, the USDC you received is the market price minus the taker sell fee — not the \$1.00 redemption value. The sell fee on CLOB markets is dynamic and peaks at **1.50%** near \$0.50; see the [sell fee curve](/user-guide/fees#sell-fee-curve) for the full table. Maker (resting limit) sells are fee-free.
</Note>

## Oracle Sources

<Info>
  Market resolution and on-chain redemption readiness are related but not identical. A market can be shown as resolved in the API before the underlying payout is fully settled on-chain, so direct redemption attempts may need to wait until the payout data has been posted.
</Info>

<Note>
  The exact method of market resolution is normally determined on the market page. Always check the resolution source and criteria on the specific market before trading.
</Note>

The majority of markets are now resolved by **Pyth Network**. Other markets may use manual resolution by the Limitless team.

| Oracle           | Used For                                                                | Resolution Time                      |
| ---------------- | ----------------------------------------------------------------------- | ------------------------------------ |
| **Pyth Network** | Majority of markets — crypto prices, stock prices, and other data feeds | Automatic at deadline                |
| **Manual**       | Custom event markets (sports, politics, etc.)                           | Typically 24–72 hours after deadline |

For Pyth-resolved markets, both the captured baseline price (`metadata.openPrice`) and the strike price quoted in the auto-generated market description use the full precision of the underlying Pyth feed (typically 8 decimal places for crypto feeds). Chainlink-resolved markets use the 18-decimal padded value matching the on-chain feed.

## Resolution for Different Market Types

### Standard (CLOB) Markets

Binary Yes/No outcome. One side wins, the other loses.

### Negrisk (Category) Markets

Only one outcome in the group can win. All other outcomes resolve to "No". See [Negrisk Markets](/user-guide/negrisk-overview) for details.

## Disputes and Misresolutions

In cases of misresolved markets, the bet amount will be refunded. See the [Refund Policy](/user-guide/refund-policy) for details.

If you believe a market was resolved incorrectly, contact the team through the **support channel** on [limitless.exchange](https://limitless.exchange) (footer), via email at [help@limitless.network](mailto:help@limitless.network), or on [Discord](https://discord.com/invite/yb4SscD8RZ).