Glossary

Core positions

Parlay
One all-or-nothing claim whose selected legs must each receive the complete selected CTF payout.

Vault
A Polygon ParlayVault clone for one published parlay. It stores fixed legs, a deadline, cap, margin parameters, deposits, and share balances.

Leg
One (conditionId, outcomeIndex) tuple identifying the selected side of a CTF condition.

Vault share
The ERC-20 accounting unit minted by depositWithQuote. On a resolved win it claims a pro-rata part of actual vault assets; on a loss it redeems for zero.

Bankroll

House maker
Polypar's intended execution model: published vaults use a shared bankroll instead of waiting for a per-parlay maker response.

Treasury / HouseTreasuryVault
The deployed ERC-4626 pool that receives losing-vault collateral and supplies balance-limited shortfalls to winning vaults. Check its current address in Network & Contracts. Deposits and mints are restricted to owner-whitelisted callers.

Pro-rata payout
A user's proportional share of the resolved vault's actual balance. It can be below the nominal claim when the vault is underfunded.

Pricing

Combined probability
The fixed-point product of the quoted prices for every stored leg before margin: Π priceᵢ.

Entry price
The combined probability after the vault applies primeBps (new vaults have no price floor). Share count is stake / entry price, subject to integer rounding.

primeBps / margin
The vault's aggregate basis-point increase to combined probability. It lowers the nominal multiplier but is not a separate token transfer or assurance of profitability.

Multiplier cap
Legacy vaults may retain a minSharePrice-derived cap. New version-2 vaults have no price floor or maximum-multiplier setting.

Quote
A vault-specific, EIP-712-signed PriceQuote binding payer, receiver, exact cash stake, combined probability, validity time, and nonce under EIP-712 version 2. The current backend makes it valid for 30 seconds.

Nonce
A 256-bit single-use value that prevents the same signed quote from being accepted twice by one vault.

Price signer
The factory-configured address whose signature the vault accepts for entry-price quotes.

Time and capacity

Deadline
The vault timestamp at or after which new deposits are rejected.

Capacity
The difference between a vault's cumulative-deposit cap and the amount already deposited. It is not a treasury solvency reserve.

Settlement

CTF
Polymarket's Conditional Tokens Framework contract on Polygon. Polypar reads payout denominators and numerators from it to evaluate stored legs.

Resolution
The permissionless resolve() transaction that changes a vault from Open to Won or Lost after sufficient CTF outcomes exist.

Redemption
The post-resolution wallet transaction that burns vault shares for the assets those shares can claim.

Network and asset

USDC The native USDC token configured as collateral in the current Polygon deployment. Its contract address matters; similarly named tokens are not interchangeable.

Polygon
The chain where the current factory, parlay-vault implementation, USDC collateral, and CTF dependency are configured. Its chain ID is 137.

Next: see these terms in sequence in Place a Parlay, or verify their deployed addresses in Network & Contracts.