Settlement
Settlement freezes an event's expiry price and calculated payout entitlements. The Stellar port keeps the existing event-level settlement model and range payout. It does not introduce a new slope-based product or redefine existing EVM claims.
When an event can settle
The ledger timestamp must reach the event expiry. The oracle adapter validates the event's pair, reference methodology, source timestamp, scale, and configured consensus policy. Once a valid expiry price is finalized, the contract records it once and enables the relevant claim and withdrawal paths.
An RPC submit acknowledgement is not successful settlement. The indexer waits for confirmed ledger execution and records the fixing, transaction hash, ledger, and event version. Repeated processing cannot settle twice or pay twice.
Concrete payout examples
Illustrative terms: USD/GHS upward event, initial rate 11.07, strike 11.40, limit 12.00, notional 100 USDC. These are arithmetic examples, not current rates or live offers.
| Fixing | Gross payout before integer rounding and fees |
|---|---|
| 10.80 or 11.40 | 0 USDC |
| 11.70 | 100 multiplied by 0.30 divided by 11.07, approximately 2.71 USDC |
| 12.00 or 12.50 | 100 multiplied by 0.60 divided by 11.07, approximately 5.42 USDC |
Above the limit, the upward payoff stays at its maximum; it does not revert to zero. The limit bounds pool exposure. Stellar integer test vectors must verify the precise base-unit results.
Delayed or disputed fixing
Missing, stale, or disputed evidence leaves the event pending. Its backing collateral remains reserved. A later spot price cannot silently replace the agreed expiry observation. Any delayed-publication window or resolution procedure must be specified in the event's immutable policy before customers buy protection. An administrative recovery feature must not be treated as a substitute for a valid fixing.
Where to watch settlement state
The proposed read is GET /v1/stellar/hedge/events/:network/:id/stats. It includes status, finalized fixing, liability, claim status, and the as-of ledger. Display pending, settled, and claimed separately. A backend timeout leaves the result unknown until chain reconciliation; it is not a reason to resubmit a funds-moving operation blindly.