> 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/trading-architecture/outcome-tokens.md). # Outcome Tokens Explains the ERC-1155 tokens representing Yes and No market outcomes. AFTERBELL represents binary market positions with ERC-1155 outcome tokens. A market creates two conceptual positions: **Yes** and **No**. For “Will NVDA close above $150 on Friday?”, a Yes token represents the position that the condition will be met. A No token represents the opposing position. Neither is ownership of the NVDA stock token. ### Tokenized binary positions The proposed system uses USDG as its settlement asset. Smart contracts on Robinhood Chain hold USDG and issue ERC-1155 outcome tokens. The source identifies `ConditionalTokens` for the outcome-token operations `split`, `merge`, and `redeem`. ``` USDG settlement → Yes / No outcome position → market resolution → winning token → redemption ``` The source does not define token IDs, condition IDs, storage layouts, or the exact implementation of these operations. The core abstraction is a tokenized position for one side of a defined question. ### Resolution determines value At resolution, one outcome retains redemption value and the other is worthless. If NVDA closes at $152, Yes wins in the example. A Yes token purchased for $0.72 becomes worth $1.00 and can be redeemed. No becomes worthless. The CLOB determines the price at which positions trade. USDG is the settlement asset. The oracle process determines which outcome wins. Smart contracts settle the result and support redemption. Resolution depends on a Chainlink stock-token feed and a Robinhood REST API cross-check. A material disagreement pauses the market and may require manual administrative resolution. This is proposed architecture, not an audited production deployment. --- # 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/trading-architecture/outcome-tokens.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.