Trading & Redemption

Take a position in a P2P market, read live odds, and redeem winning positions with pnp-core.

Once a market exists, users take positions and — after settlement — redeem winnings. The full trade lifecycle lives on client.p2p; the AMM namespace currently exposes market creation plus price/multiplier reads.

1. Buy into a side

   client.p2p.buy — spend collateral to mint decision tokens.

2. Watch the odds

   client.p2p.getMarket — implied probabilities and pot sizes update as people trade.

3. Settle

   An authorized settler calls client.p2p.settle after endTime. See Custom Oracles.

4. Redeem

   Winners call client.p2p.redeem to burn winning tokens and collect the payout.

​

Buy into a P2P market

Spend amount collateral (base units) to mint decision tokens on side. The buyer’s YES/NO associated token accounts are created on demand.

import { PnpClient, uiToBaseUnits } from "pnp-core";

const client = PnpClient.mainnet({ wallet });

const res = await client.p2p.buy({
  market: 42n,                        // numeric id or the market PDA
  side: "no",
  amount: uiToBaseUnits(50, 6),       // spend 50 USDC
  minTokensOut: uiToBaseUnits(48, 6), // optional slippage floor (base units)
});

console.log(res.signature, res.side);

market · PublicKey | bigint | number · required

The market to bet on — its numeric id or PDA.

side · "yes" | "no" · required

Side to buy (mint decision tokens for).

amount · BN | bigint | number · required

Collateral to spend, in base units.

minTokensOut · BN | bigint | number · default: "0"

Slippage floor: minimum decision tokens to receive. 0 disables the guard.

computeUnitLimit · number · default: "300000"

CU limit prepended to the tx (covers ATA creation). 0 skips it.

New-rules markets (id ≥ 79) use a locked-liquidity model: only the creator may buy the creator’s side, and the opposite side is whitelist-gated. The SDK passes the gate PDA automatically — an unauthorized buy reverts on-chain. Legacy markets (id < 79) are open.

​

Read a market’s state

getMarket decodes and enriches a market — pot sizes, implied probabilities, mints, and status — from a numeric id or PDA. No wallet required.

const m = await client.p2p.getMarket(42n);

console.log(m.question);
console.log("status:", m.status);                 // "open" | "ended" | "resolved"
console.log("YES pool:", m.yesPot, "NO pool:", m.noPot);
console.log("implied YES %:", (m.impliedYesProbability * 100).toFixed(1));
if (m.status === "resolved") console.log("winner:", m.winner);

Key fields on P2PMarket: yesPot / noPot / totalPot, impliedYesProbability / impliedNoProbability (0–1), creatorSide, endTime, resolved, winner, oddsBps, and the yesMint / noMint / collateralMint addresses. See the API Reference for the full shape.

​

Read AMM prices & multipliers

AMM (Pythagorean) markets expose spot prices and potential payout multiples. Fresh markets read 50/50 and 2×/2×.

const price = await client.amm.readPrice(marketId);
// { yesPrice: 0.5, noPrice: 0.5 }  — each in [0,1]

const mult = await client.amm.readMultiplier(marketId);
// { yesMultiplier: 2, noMultiplier: 2 }
//   yesMultiplier = 1 + (noSupply / yesSupply)²

AMM markets are create + read in pnp-core today. On-chain AMM buys/sells aren’t yet exposed through the SDK — the parimutuel (p2p) path is the supported end-to-end trading flow.

​

Redeem a winning position

After a market is settled, the winner burns their winning decision tokens and receives the payout. A 2% fee is taken from the gross payout (60% to the creator’s fee treasury, 40% to the P2P admin); you receive the rest.

const res = await client.p2p.redeem({ market: 42n });
console.log("redeemed:", res.signature);

redeem only works after the market is settled (status === "resolved"). The signer must hold the winning-side tokens. Redeeming before settlement reverts on-chain. To take back unmatched collateral instead, see Refunds.

​

End-to-end

import { PnpClient, uiToBaseUnits } from "pnp-core";

const client = PnpClient.mainnet({ wallet });

// 1) create — seed YES with 100 USDC
const { marketId } = await client.p2p.createMarket({
  question: "Will it ship this month?",
  initialAmount: uiToBaseUnits(100, 6),
  side: "yes",
  endTime: new Date(Date.now() + 7 * 864e5),
});

// 2) a taker buys the NO side
await client.p2p.buy({ market: marketId, side: "no", amount: uiToBaseUnits(40, 6) });

// 3) after endTime, an authorized settler resolves it
await client.p2p.settle({ market: marketId, winner: "yes" });

// 4) the YES holder redeems
await client.p2p.redeem({ market: marketId });