Why Negrisk (Category Market) really changes capital efficiency

There is a mechanism in Limitless that many people may not realize its significance at first glance - Negrisk.

On the surface, it is just a market form that packages the "multiple-choice question" events, but in reality, it rewrites the way capital flows in prediction markets.
In a traditional model, an event with multiple possible outcomes, such as A, B, C, and D, can only be positioned by buying and selling each outcome's Yes/No separately. When switching directions, you must first sell one position before buying another. On the surface, it appears to be just two transactions, but you have to pay for slippage twice, pay transaction fees twice, and perform one additional on-chain operation. This is a burden for any trader who wants to maintain flexible positions.

Negrisk changed this.

It connects the No contract logic of all results — when you hold the No for A, you are essentially betting that any one of B, C, or D will win. Even better, this system allows you to directly convert the No of A into the Yes of B, without the need to liquidate or rebuild positions in between.

The result is that transactions can switch directions instantly, with lower costs, and liquidity will not be unnecessarily locked up. For short-term players, this means they can almost frictionlessly shift from one viewpoint to another; for LPs and market makers, this essentially reduces the resistance of capital circulation to a minimum.

Another easily overlooked detail is that when the number of No you hold exceeds the convertible portion, the system will allow you to directly convert the excess part into USDC. This is not a gimmick, but a very practical "liquidity release" mechanism. Your funds are no longer passively locked up and can be partially unlocked at any time, maximizing capital efficiency.

For quantitative and arbitrage strategies, the appeal of this mechanism is even more direct: fewer on-chain interactions, lower slippage, and more compact position management. This optimization can create a significant gap in long-term returns in highly complex trading environments.

This is also why many third-party evaluations, including DappRadar, regard Negrisk as one of the key features for Limitless to enhance liquidity and scale. It not only optimizes user experience but also fundamentally reshapes the capital efficiency of the market.

In a trading world on a chain that emphasizes speed, fluidity, and composability, the significance of Negrisk may be deeper than most people realize. It gives prediction markets a true sense of "market" for the first time.
@trylimitless