What is a PMF
PMF stands for Prediction Market Fund. The products are controlled-access ERC-4626 style vaults that hold pUSD and prediction-market positions. Creation and redemption are mediated by Authorized Participant quotes, and execution is delegated to solvers through bounded order intents.
Each PMF is designed for broad passive exposure to baskets of event-market positions. The vault enforces settlement and share accounting onchain, while offchain services handle quotation, basket publication, NAV reporting, reconciliation, and venue execution.
Share creation and redemption use temporary AP quotes instead of unrestricted mint and redeem paths.
Solvers fill order intents with explicit token, side, price, size, expiry, and role constraints.
Start Here
- STBL and CHAO
- Market Structure
- NAV and Quote Price
- Capacity Model
- Creation and Redemption
- Solver Model
- Risks
- Glossary
Product Boundary
| Surface | PMF role |
|---|---|
| Vault share | ERC-4626 claim on a product vault's net shareholder assets. |
| Vault assets | pUSD plus prediction-market positions held by the vault. |
| Primary access | AP signed creation and redemption quotes, checked by the vault. |
| Execution | Solver filled bounded intents against supported prediction market exchanges. |
| Accounting reference | NAV per share, subject to fresh inputs and reconciliation. |
| Executable price | AP quote price for one specific action, size, receiver, deadline, and settlement asset. |
Pilot Caveat
The current PMF funds are pilot products. Product availability, supported flows, capacity, operational controls, and product parameters may change. These docs describe the product model and current public reference surface; they are not a commitment to quote, support size, maintain continuous availability, or provide a particular execution outcome.