Graduation & Complete Sets

Graduation is the moment a market crosses from pool to book.

When it happens. Automatically, when total pool collateral reaches the $10,000 graduation threshold. A market that never hits it stays in Phase 1 until resolution.

What happens

• The pool freezes. No new pool entries. Your Phase 1 stake becomes a balance of outcome tokens you own outright.
• The yield vault redeems. Principal returns to the market, and accrued yield is passed through to Phase 1 participants in full, pro-rata by entry timing, with no clawback.
• The seed fund seeds the book. Capital from Phase 1 entry fees is deployed to provide initial liquidity.
• Trading opens. Anyone can place orders.

Example. You committed $700 to YES at an implied $0.70 in Phase 1, so 1,000 YES tokens. At graduation those 1,000 tokens are yours outright and tradable, plus your share of vault yield since entry. Now you can sell into the book at the going price, place a limit order at your number, or hold to resolution for $1.00 per token.