Split and Merge: Now Live on Probable

Liquidity is the backbone of any prediction market. Traders want tighter spreads, faster exits, and more flexibility in how they manage risk. Market makers want simpler ways to deploy capital without constantly fighting the order book.

To address this, we’re introducing Split & Merge, a feature that lets users convert between USDT and YES/NO shares directly from the trading UI.

This upgrade enables instant exits, and more capital-efficient liquidity provision on Probable — all without touching the order book.

How It Works

Think of Split & Merge as a direct pipeline between cash and outcome tokens:

• SPLIT → Convert USDT into an equal set of YES + NO shares.

• MERGE → Combine YES + NO shares back into USDT at any time.

This happens atomically on-chain, without relying on a counterparty order. It turns every trader into their own liquidity source.

For a step-by-step walkthrough, check out our docs.

How to Access Split & Merge

Split & Merge is available directly inside the trade panel, making it a first-class trading action — not an advanced or hidden feature. Users can switch between Buy/Sell and Split/Merge depending on their strategy.

Why Split & Merge Changes Everything

Prediction markets force traders to rely on counterparties. Split & Merge removes that dependency by leveraging the underlying Conditional Token Framework (CTF), enabling:

• Instant Entry & Exit: Convert USDT into YES+NO shares, or merge them back, anytime — even in low liquidity.
• Zero Slippage & No Taker Fees: Bypass the order book entirely. No spreads, no waiting, no taker fees.
• Advanced Risk Management Hedge exposure by holding both outcomes, or lock in value without waiting for a match.

When to Use Split & Merge

This feature is your toolkit for smarter, faster trading:

• Quick Exit: Close a position instantly without waiting for a buyer or seller.
• Thin Markets: Enter or exit smoothly even when liquidity is low.
• Hedging & Neutral Strategies: Hold both YES and NO to stay market-neutral.
• Market Making & Inventory Management: Rebalance or unwind inventory efficiently.

Designed for Transparency and Integrity

We built Split & Merge with platform clarity and trader trust in mind:

• Exclusive to Binary Markets — Available only for Conditional Token Framework (CFT) markets.
• Lifecycle Aware — Automatically disabled after market resolution to avoid confusion.

What’s next

This is a foundational step toward deeper liquidity and more advanced trading strategies on Probable. We’ll continue refining user experience, analytics, and P&L reporting to support both retail traders and professional market makers.

Stay tuned — and Defy the Odds.