Settlement
2 min read
How Raven resolves every contract at expiry — transparently, automatically, and entirely on-chain.
The Settlement Oracle — Chainlink
Raven Market uses Chainlink as its settlement oracle. Chainlink is the industry standard for decentralized price feeds, aggregating data from multiple independent node operators to produce tamper-resistant, manipulation-resistant prices.
At each contract's scheduled expiry, Raven reads the Chainlink CC price feed and records the final settlement price on-chain. This becomes the immutable basis for resolving all positions in that contract batch.
Settlement Flow
- Contract reaches its expiry time. Trading has already closed.
- Contract enters Settlement Pending. The interface displays the live Chainlink oracle price feed.
- Chainlink delivers the final CC price for that timestamp.
- Contract transitions to Settled. The settlement price and strikes are shown on the price track visualization.
- ITM positions receive their fixed CC payout automatically. OTM positions expire with no return.
Edge Cases
Settlement Price Exactly at Strike
If the Chainlink settlement price equals the strike exactly, CALL options are settled as out-of-the-money. The condition is strict: CC must finish strictly above the strike for a CALL to win.
Oracle Error
If Chainlink cannot deliver a valid settlement price (extended feed outage, data anomaly), the contract enters Oracle Error state. All CC stakes are returned to traders in full — no premium is lost due to an oracle failure.
Verifiability
Every settlement is recorded on Canton's distributed ledger. The Chainlink price, settlement timestamp, and each position outcome are all publicly verifiable on-chain. Provably fair settlement — not a trust-me claim, a cryptographic guarantee.