> For the complete documentation index, see [llms.txt](https://docs.footymarket.xyz/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.footymarket.xyz/protocol/spl-tokens.md).

# SPL Outcome Tokens

Footymarket uses Solana's native SPL token standard for YES and NO shares. This is not a custom token implementation: every outcome share is a standard SPL token, fully compatible with the broader Solana ecosystem.

## What this means in practice

Because YES and NO shares are standard SPL tokens, they behave like any other Solana token:

* They live in any Solana wallet (Phantom, Backpack, Solflare, or any other SPL-compatible wallet)
* They can be transferred peer-to-peer without going through the Footymarket interface
* They can be listed on secondary markets or integrated with other DeFi primitives
* Every position is verifiable on-chain by looking at the user's token accounts

A user's portfolio is the set of SPL token balances they hold across all Footymarket YES and NO mints.

## Token mints

Each market has two SPL token mints created at the time the market is initialised:

* A YES mint: the mint authority for the market's YES shares
* A NO mint: the mint authority for the market's NO shares

The mint authority for both is the Market PDA. Only the Footymarket program can mint or burn these tokens, and it only does so in the defined circumstances: minting on a valid `mint_shares` or `settle_orders` (MINT path) instruction, burning on a valid `redeem_shares` or `settle_orders` (MERGE path) instruction.

## Supply invariant

At any point in time:

```
total YES supply = total NO supply = total USDC locked in the market
```

This invariant is enforced by the program. Every mint operation creates exactly one YES token and one NO token for each USDC deposited. Every redeem operation destroys exactly one YES token and one NO token and returns one USDC. There is no mechanism to break this invariant.

## After resolution

After a market resolves, the program updates the market status and records the outcome. The winning mint continues to exist as a standard SPL token. Holders can call `claim_winnings` to exchange their winning shares for USDC at a 1:1 rate (minus protocol fees).

The losing mint's tokens are worthless after resolution. They cannot be redeemed. Holders can burn them to reclaim token account rent, but there is no USDC redemption path for the losing outcome.

{% hint style="info" %}
The use of standard SPL tokens means that Footymarket positions are composable. A user who holds YES shares could theoretically use them as collateral in a lending protocol that supports SPL tokens, or include them in a DeFi strategy. This composability is a deliberate design choice and is expanded in future protocol versions.
{% endhint %}


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