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When you buy shares on CHOK, you receive outcome tokens. They are ERC-1155 tokens minted by the Conditional Tokens contract. Each market has two of them, one per outcome.

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One Yes plus one No equals 1 chUSD

Every outcome token is backed by collateral. One Yes token and one No token of the same market together are always worth exactly 1 chUSD, because exactly one of them will pay out. That’s why the Yes price and the No price add up to about 1.

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Where your shares are held

Your shares are held by your trading account, a smart-contract wallet that belongs to you. See Accounts & Sign-in.

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Positions

Your position in a market is how many shares of each outcome you hold. The Portfolio page shows each position with:
  • Shares you hold
  • Average price, your average cost per share
  • Current value, shares × the current price
  • Profit/loss, current value minus what you paid

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Closed loop

During the Preseason, shares and chUSD stay inside CHOK. You can’t send them to another user or to an outside address. On-chain transfers to anything other than CHOK’s own contracts revert. See chUSD.