My Event Contract settled against me
Your Up or Down contract settled the opposite way to what you expected, or the market voided and you want to know what happened.
Every settlement is published and you can check it yourself. That is the short answer, and the rest of this page is how.
What the market actually settles against
For the rolling Up/Down markets the line to beat is the window's opening price. Some markets carry a fixed strike instead. The info icon on the order ticket's Strike row says which applies, and a fixed-strike market resolves Up only if the close is above the strike.
- Settlement price at or above the opening price: Up wins
- Below it: Down wins
The settlement price comes from a multi-source price reference, never a single exchange tick. So a price you saw on one exchange, or the live contract price in the app, is not what decides it.
Check it yourself
Every market's settlement question is public on the oracle explorer. The app links the right one for the network you are trading on, from the market's Settles against row, with the Graph view already selected.
If you are opening it yourself, the explorer is per network: the mainnet explorer is https://prd.oracle.somnia.host and the testnet one https://dev.oracle.somnia.host; a market's question lives at /questions/<id>. Question ids are not shared between the two, so a mainnet id pasted into the testnet explorer opens a different, unrelated question rather than failing
Open your market's question and switch to the Graph tab. It shows the whole pipeline for that specific market:
- The question exactly as it was recorded on-chain
- Each price source and the value it returned
- The median across them
- How many sources had to agree
- Which side that median landed on
If a result looks wrong, that page is the receipt. Nothing about a settlement is hidden, and we will point you at the same page rather than asking you to take our word for it.
Why the price you watched and the settlement price can differ
The contract price you trade in the app is what the order book will pay for that outcome right now. The settlement reference is a separate feed. Settlement uses the multi-source median, and that is the number that resolves the market.
A close that looked like a win by a hair on one screen can still settle the other way. That is the feed doing what it is specified to do rather than a fault, and the Graph tab will show you the numbers.
If your market voided
If a reliable settlement price cannot be determined within the settlement window, the market voids instead of settling on bad data.
On a void, each contract on either side redeems for 0.50 USDso, so a matched pair returns 1 USDso and no fee is taken. Nobody wins the market.
It is not a refund of what you paid, which is the part that surprises people. Whether you come out ahead depends on your entry against 0.50:
| You bought Up at | You receive | Result per contract |
|---|---|---|
| 0.40 | 0.50 | up 0.10 |
| 0.50 | 0.50 | break even |
| 0.70 | 0.50 | down 0.20 |
Trade History labels a voided position Closed early.
Things that are not what happened
You were not liquidated. Event Contracts are fully collateralised with no leverage and no liquidations. Your stake is your maximum loss, always.
No fee was taken. The venue's settlement fee is currently zero, so a winning contract redeems for 1 USDso and there is no cut of winnings. If a settlement fee is ever configured it applies to winning payouts only, and the app's payout estimate would show it.
You may have been able to exit. While a window is in Trading you can sell back into the book, but only against a resting bid: the sell goes out as immediate-or-cancel, so with nothing on the other side it fills nothing and the app tells you the position is unchanged. A thin market can leave you holding to settlement even though the window was open. Once the window ends no new orders are accepted (the app shows Settling). The app only ever places immediate-or-cancel orders, so nothing of yours rests on the book to cancel.
Still think it is wrong
Open a ticket with:
- The market, asset and window length, e.g. BTC 15 minutes
- The window's start time, with timezone
- Which side you held
We will pull the settlement question and walk through the sources with you.