Slips are NFTs issued to all participants as proof of their stake within a market. They can be sold to other traders and provide a means of subsidizing losses and amplifying winnings. 

Losing slips can be auctioned off at a discount to advanced traders speculating on extrinsic value. 

Slips continue trading even after a market is closed, enabling a way to live-trade events without exposure to attack vectors associated with non-locking prediction markets. 

To find out more about the inner workings of this new derivatives class, read the whitepaper and blog here.