Position Lifecycle
Every Boundary Perp follows a defined lifecycle from quote request through settlement or early close.
Lifecycle States
Quoting
The request is being validated and priced. No funds or exposure exist.
Proposed
A quote has been delivered and is awaiting acceptance. No funds or exposure exist.
Active
The stake has been deposited, the payout and conditions are fixed, and the position is part of the hedged book.
Resolved — Won
The selected outcome occurred. The recorded payout is claimable under normal solvency conditions.
Resolved — Lost
The other outcome occurred. The stake was lost.
Resolved — Closed Early
The position owner accepted a buyback before a terminal outcome.
Aborted
The request was rejected, withdrawn, abandoned, or expired before opening.
State Transitions
Before Opening
Quoting and Proposed do not represent live positions. No stake has transferred and no market exposure exists. An expired quote cannot be revived; a new quote must be requested using current conditions.
While Active
An active position has fixed settlement conditions and a fixed winning payout. It remains active until:
Its chosen outcome occurs.
Its alternative outcome occurs.
The owner accepts an early-close buyback.
Terminal States
Won, lost, and closed-early positions are final. A winning position may remain unclaimed after settlement, but its outcome and payout do not change.
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