> For the complete documentation index, see [llms.txt](https://whitepaper.after-bell.uk/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://whitepaper.after-bell.uk/protocol-overview/market-lifecycle.md). # Market Lifecycle Covers market creation, trading, close, resolution, and settlement stages. An AFTERBELL market progresses from a defined question to a final redemption outcome. The lifecycle below describes the intended product flow at a conceptual level. It does not add cancellation, disputes, or appeal mechanisms that are not specified in the source. ``` Market question → Participation → CLOB matching or minting → Open market → Resolution condition → Data verification → Resolution → Redemption ``` ### Define the market The lifecycle begins with a question and a measurable resolution condition. The source describes several examples: * A weekly close: “Will NVDA close above $150 on Friday?” * An earnings event: “Will AAPL beat Q3 earnings?” * A crypto condition: “Will BTC close above $100K this month?” The market must establish the outcome condition and the point at which it will be evaluated. That definition creates the Yes and No positions participants trade. ### Participate in the market Users select Yes or No and submit a signed order. The signature itself does not require a gas fee. The order enters the proposed off-chain central limit order book, where it can be matched with a compatible order from another participant. The source also describes a second route: new paired outcome shares can be minted from USDG. Whether matched or minted, the market outcome remains the same: participants hold Yes or No positions represented by ERC-1155 outcome tokens. ### Keep the market open The market remains open until its defined resolution condition occurs. During this period, participants can trade at available prices through the CLOB. Those prices reflect current trading expectations, not a final answer. The source does not specify additional lifecycle states beyond this open period. It also does not describe cancellation, challenge, appeal, or governance-vote procedures. This documentation does not assume them. ### Verify the relevant outcome When the condition occurs, the system evaluates the relevant price or event. AFTERBELL proposes a two-source process: 1. Read the Chainlink stock-token feed. 2. Cross-check it against the Robinhood REST API. If those sources differ by more than 5%, automated resolution pauses. This avoids treating materially conflicting data as a settled answer. ### Resolve and redeem When the outcome is verified, the market resolves. If the data sources disagree beyond the threshold, an administrator can manually resolve using off-chain evidence. This is an explicit trust and infrastructure dependency. After resolution, the correct Yes or No outcome becomes redeemable. The opposing outcome becomes worthless. USDG is the proposed settlement asset, while the smart contracts on Robinhood Chain are intended to settle the market and support redemption. {% hint style="info" %} The lifecycle is a proposed operating model. Smart contracts are not yet audited, and an audit is planned before mainnet. {% endhint %} --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter, and the optional `goal` query parameter: ``` GET https://whitepaper.after-bell.uk/protocol-overview/market-lifecycle.md?ask=&goal= ``` `ask` is the immediate question: it should be specific, self-contained, and written in natural language. `goal` is optional and describes the broader end goal you are ultimately trying to accomplish on behalf of the user. GitBook uses it to tailor the answer towards what is most useful for that goal. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.