Positions Converted Event

Emitted when a user calls convertPositions on the NegRiskAdapter contract. This converts NO positions on selected outcomes into USDC plus YES positions on the complementary outcomes within the same multi-outcome market. Conversions are unique to neg-risk markets (multi-outcome events like “Republican Presidential Nominee” or “FIFA World Cup Winner”). They allow traders to rebalance positions across outcomes without going through the orderbook.

{
  "data": {
    "amount": 98,
    "block_number": 85007631,
    "converted_outcomes": [
      "Fidesz-KDNP",
      "TISZA"
    ],
    "event_title": "Hungary Parliamentary Election Winner",
    "event_type": "positions_converted",
    "index_set": "0x0000000000000000000000000000000000000000000000000000000000000021",
    "log_index": 943,
    "market_id": "0x355e7310dd6e18ef5fa456de7ce1331bd8c7540c4c39028db05325be19050100",
    "neg_risk": true,
    "stakeholder": "0x30cecdf29f069563ea21b8ae94492e41e53a6b2b",
    "taker_base_fee": null,
    "timestamp": 1775135299000,
    "tx_hash": "0x74fcb24732007ec58042c6e2ed7596c44a12f2fb34dec8bef9bbd3eaeb020718"
  },
  "timestamp": 1775135299000,
  "type": "positions_converted"
}

Fields

string

required

Always "positions_converted".

number

required

Block timestamp in Unix milliseconds.

object

required

Show data fields

string

required

Transaction hash.

number

required

Block number.

number

required

Log index within the transaction.

number

required

Block timestamp in Unix milliseconds.

string

required

Wallet address that performed the conversion.

string

required

The neg-risk market group ID (bytes32). All outcomes within the same multi-outcome event share this ID.

string

required

Bitmask (hex) of which outcome indices were converted. Each bit position corresponds to an outcome in the market. For example, 0x03 (binary 11) means outcomes at index 0 and 1 were converted.

number

required

USDC amount per outcome that was converted (6 decimal precision).

string[]

Human-readable names of the outcomes that were converted. Decoded from the index_set bitmask using market metadata. For example: ["Fidesz-KDNP", "TISZA"].

string

Parent event title (e.g. “Hungary Parliamentary Election Winner”). Enriched from metadata.

boolean

Always true for conversion events (conversions only exist on neg-risk markets).

string

Market question. Enriched from metadata when available.

string

URL slug for the market. Enriched from metadata.

string

Market image URL. Enriched from metadata.

number

Taker fee rate in basis points. Enriched from metadata.

object

Map of token ID to outcome name for all outcomes in this market. Enriched from metadata.

How conversions work

On a neg-risk market with N outcomes, a user holding NO positions on selected outcomes can convert them:

The user’s NO tokens on the selected outcomes are burned
The user receives (number of NO positions - 1) x amount in USDC
The user receives YES tokens on all complementary outcomes (the ones NOT in the index_set)

This enables efficient position rebalancing without using the orderbook.

Use cases

Whale tracking — large conversions signal sophisticated repositioning across outcomes
Market structure analysis — conversion flow reveals which outcomes traders are moving between
Liquidity detection — conversions create new YES token supply on complementary outcomes
Arbitrage monitoring — conversions can indicate perceived mispricing between outcomes

Not included in global firehose by default (same as position_split/position_merge). Subscribe explicitly with event_types: ["positions_converted"] or use the wallets/markets subscription types which include it automatically.

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Positions Converted Event

Fields

How conversions work

Use cases

​Fields

​How conversions work

​Use cases

Fields

How conversions work

Use cases