Terms of Use

1.1 The Platform is a peer-to-peer prediction market. Users trade outcome shares in event markets against one another through a central limit order book. Strix Lab operates the order-matching infrastructure and user interface; matched trades are settled on-chain through smart contracts deployed on the Base network, and positions are represented as conditional tokens held by your wallet.

1.2 Strix Lab is not a counterparty to your trades and does not trade against its users, except that Strix Lab or its affiliates may provide liquidity to certain markets on the same terms available to other users, as disclosed on the Platform. When your order is matched, it is matched against orders placed by other users. Prices are determined solely by supply and demand.

1.3 Outcome shares are not securities, deposits, e-money, or insured products, and are not marketed as investments. A share pays a fixed amount if the associated outcome resolves in its favor and nothing otherwise. You can lose the entire amount you commit.

1.4 Strix Lab may modify, discontinue, or restrict access to any part of the Platform, including specific markets, order types, or features, at any time and without liability to you.

2.1 You must be at least 18 years old (or the age of majority in your jurisdiction, if higher) to use the Platform.

2.2 The Platform is not offered to, and may not be accessed or used by, any U.S. Person. "U.S. Person" means: (a) any natural person located in, resident of, or physically present in the United States of America, its states, territories, or possessions (the "United States"); (b) any corporation, partnership, or other entity organized or incorporated under the laws of the United States; (c) any account held for the benefit of a person described in (a) or (b); and (d) any person otherwise treated as a "U.S. person" under applicable United States law or regulation.

2.3 In addition, you may not access or use the Platform if you are located in, incorporated in, or a resident of: (a) the United States; (b) any jurisdiction subject to comprehensive sanctions administered by the United Nations, the U.S. Office of Foreign Assets Control, the European Union, or the United Kingdom, including (as of the date of these Terms) Cuba, Iran, North Korea, Syria, and the Crimea, Donetsk, and Luhansk regions; or (c) any other jurisdiction identified on the Restricted Jurisdictions list published on the Platform, as updated from time to time (together, the "Restricted Jurisdictions").

2.4 You may not use the Platform if you are subject to economic or trade sanctions administered by any governmental authority, or listed on any prohibited- or restricted-parties list.

2.5 Each time you access the Platform or place an order, you represent and warrant that: (a) you are not a U.S. Person; (b) you are not located in a Restricted Jurisdiction; (c) you are not using any tool or technique (including any VPN, proxy, or location-spoofing service) to disguise your location or circumvent geographic restrictions; (d) your use of the Platform is lawful in your jurisdiction; and (e) you are not acting on behalf of any person who could not satisfy these requirements directly. These representations are deemed repeated on every order you place.

2.6 Strix Lab employs geographic and technical access controls but does not warrant that they are effective in every case. Circumvention of access controls is a material breach of these Terms, and any positions or benefits obtained through circumvention may be cancelled, voided, or forfeited.

3.1 Strix Lab may at any time, at its discretion or where required by law, require you to provide identity, source-of-funds, or other verification information before or after permitting deposits, trading, or withdrawals, and may engage third-party providers to verify that information.

3.2 Strix Lab may screen wallet addresses and transactions against sanctions lists and blockchain-analytics risk indicators, and may refuse, block, or reverse interactions with addresses it reasonably determines to be sanctioned, associated with illicit activity, or otherwise high-risk.

3.3 Strix Lab may suspend, restrict, or refuse access, delay withdrawals, or freeze Platform features with respect to any account pending completion of compliance review, and may report activity to competent authorities where required by law. To the extent permitted by law, Strix Lab is not liable for losses arising from actions taken in good faith under this Section 3.

4.1 Access to trading features requires authentication through our third-party wallet infrastructure provider. An embedded self-custodial wallet may be created for you as part of onboarding. You are responsible for maintaining the security of your login credentials and any devices used to access your account.

4.2 To enable trading, you may grant the Platform delegated authority to sign orders and settlement transactions on your behalf. You may revoke this authority at any time, subject to the completion of any in-flight transactions. Revocation may prevent further use of trading features.

4.3 You retain control of your wallet. Strix Lab does not take custody of your funds; balances are held by your wallet and by the Platform's smart contracts as required for open orders and positions.

4.4 Strix Lab is not liable for any transaction signed and settled using delegated authority granted under Section 4.2, provided the transaction was consistent with your account activity.

4.5 You are solely responsible for any activity occurring under your account or wallet connection, whether or not authorized by you, except to the extent caused by Strix Lab's gross negligence or willful misconduct.

5.1 Orders you submit are binding when matched. Matched trades are settled on-chain and cannot be reversed once confirmed. Open, unmatched orders may be cancelled; orders that are matched or in settlement cannot be cancelled.

5.2 Strix Lab charges trading fees as displayed on the Platform at the time of order placement. Fee schedules may change prospectively at any time upon notice given in accordance with Section 21.3. Network (gas) costs of settlement are currently borne by the Platform's operator infrastructure but may change upon such notice.

5.3 The Platform may include order types that execute immediately against available liquidity. Execution prices for such orders depend on the state of the order book at execution time and may differ from displayed prices.

5.4 Strix Lab may cancel open orders, halt trading, delist markets, or suspend some or all Platform functions where it reasonably determines this is necessary for market integrity, resolution disputes, technical faults, oracle malfunction, or legal or regulatory compliance.

6.1 The Platform transacts in USDC on the Base network. You are solely responsible for ensuring that deposits are sent as supported assets on the supported network. Assets sent on unsupported networks or in unsupported tokens may be permanently lost.

6.2 Withdrawals are executed on-chain to the address you specify. Blockchain transactions are irreversible; Strix Lab cannot recover funds sent to an incorrect address.

6.3 Strix Lab has no obligation to attempt recovery of assets sent on an unsupported network or in an unsupported token, and any recovery assistance Strix Lab elects to provide is offered solely as a courtesy and may be subject to a service fee.

6.4 Strix Lab is not responsible for verifying the accuracy of any withdrawal address you provide and bears no liability for funds sent to an address you specify, including an address that is incorrect, compromised, or controlled by a third party.

7.1 Each market resolves according to the resolution criteria stated in its market rules at the time the market is opened (the "Resolution Criteria"). The Resolution Criteria, including the designated resolution source for that market, form part of these Terms with respect to that market.

7.2 Unless a market's rules specify otherwise, market outcomes are determined through UMA's Optimistic Oracle, a decentralized resolution protocol operated by third parties and not controlled by Strix Lab. Under that protocol, a proposed outcome becomes final after the expiry of a challenge period unless disputed; disputed outcomes are escalated to and determined by a vote of UMA token holders under UMA's own rules. Strix Lab may designate alternative or additional resolution sources or oracle providers for particular markets or market categories (including automated data-feed oracles for price-based markets), as stated in the applicable market rules.

7.3 The outcome reported by the applicable resolution source upon completion of its process (including any challenge or dispute process) is final and binding on all users. You acknowledge that decentralized oracle protocols carry inherent risks, including erroneous proposals, dispute outcomes with which you disagree, token-holder voting outcomes, delays, and manipulation attempts, and that Strix Lab does not control and is not responsible for the conduct or determinations of any third-party resolution source.

7.4 Where a market's Resolution Criteria cannot be satisfied — including where the underlying event is cancelled, the specified data source permanently fails, or the applicable resolution process determines the market to be unresolvable — the market may be voided. Unless the market rules state otherwise, when a market is voided each outcome share in that market is redeemable at an equal fraction of the settlement value (for a binary market, US$0.50 per share). Trading fees are not refunded on voided markets except at Strix Lab's discretion.

7.5 Notwithstanding Section 7.3, where Strix Lab determines in good faith that a manifest error occurred in the resolution process (for example, resolution based on demonstrably false source data), Strix Lab may, to the extent the applicable oracle framework and smart contracts permit, take corrective action, including re-proposing an outcome or voiding the market.

7.6 Redemption of winning positions may require an on-chain claim transaction and may be subject to indexing or confirmation delays. Winning positions remain redeemable through the Platform's smart contracts even if Platform interfaces are unavailable.

8.1 The Platform may operate points, rewards, or referral programs. Points and similar program balances: (a) have no monetary value and are not redeemable for cash or any digital asset; (b) do not constitute property, currency, securities, or a claim against Strix Lab; and (c) do not create any right to, expectation of, or entitlement to any future token, airdrop, distribution, or other benefit of any kind. Strix Lab has made no commitment to launch any token, and nothing on the Platform or in any program should be understood as an offer or promise of one. Program terms (including any Referral Reward Program Terms) supplement these Terms and govern in the event of conflict solely as to the relevant program.

8.2 Strix Lab may modify, suspend, or terminate any program at any time, and may withhold or claw back program benefits obtained through manipulation, self-dealing, sybil activity, use of multiple or coordinated accounts, or other abuse, as determined by Strix Lab in its reasonable discretion.

9.1 Strix Lab may make APIs available for programmatic access to the Platform. API access is a Platform feature subject to these Terms. Strix Lab may impose and change rate limits, require API keys, and suspend or revoke API access at any time, including where automated activity degrades Platform performance or violates Section 10.

9.2 Automated and algorithmic trading is permitted subject to these Terms. You are responsible for the behavior of any software you operate, and orders placed by your software are attributed to you. Strix Lab does not warrant API uptime, latency, message ordering, or data completeness, and is not liable for losses arising from API errors, outages, or changes.

9.3 Strix Lab may enter into separate written agreements with market makers, liquidity providers, or institutional participants. Where such an agreement conflicts with these Terms, the separate agreement governs as between Strix Lab and that party.

10.1 You must not: (a) engage in market manipulation, including wash trading, spoofing, layering, or coordinated price manipulation; (b) use the Platform in connection with any unlawful activity, including money laundering, terrorist financing, fraud, or sanctions evasion; (c) circumvent geographic, eligibility, or access restrictions, including through VPNs, proxies, false information, or use of another person's account; (d) interfere with the Platform's operation, attempt unauthorized access, or abuse APIs beyond permitted rate limits; (e) exploit errors, bugs, or unintended behavior of the Platform or its smart contracts for gain; (f) trade on markets whose outcome you control or can materially influence, or trade on material non-public information about a market's resolution source; or (g) attack, manipulate, or attempt to corrupt any oracle or resolution process.

10.2 If you discover an error, bug, or vulnerability, you must not exploit it and are encouraged to report it through the responsible-disclosure channel published on the Platform. Good-faith security research conducted in accordance with our published disclosure policy will not be treated as a violation of Section 10.1(d).

10.3 Strix Lab may investigate suspected violations and may cancel orders, void trades, freeze or claw back program benefits, suspend or terminate access, and report activity to competent authorities.

11.1 Trading prediction-market shares involves substantial risk, including total loss of the amounts you commit. Prices can move rapidly, liquidity may be limited or absent, and you may be unable to exit a position at a desirable price or at all.

11.2 The Platform depends on blockchain networks, smart contracts, oracle protocols, and third-party infrastructure, each of which carries inherent risks, including network congestion or outages (including sequencer downtime on the Base network), forks, bugs, exploits, oracle failures or manipulation, and erroneous or delayed source data (including from meteorological, sporting, governmental, or other underlying data providers). Digital-asset values and stablecoin pegs may fluctuate, and USDC may deviate from its intended value.

11.3 Smart contracts are experimental technology. Audits reduce but do not eliminate the risk of vulnerabilities. Funds committed to smart contracts may be lost as a result of exploits or defects.

11.4 You are solely responsible for evaluating the merits and risks of using the Platform and you assume all such risk. To the fullest extent permitted by law, you waive any claim against Strix Lab arising from price volatility, liquidity constraints, smart-contract vulnerabilities, or oracle or resolution errors, except where caused by Strix Lab's fraud, gross negligence, or willful misconduct.

12.1 Nothing on the Platform constitutes investment, financial, legal, or tax advice, or a solicitation or recommendation to buy or sell any outcome share or other instrument. Market prices, probabilities, charts, and other displayed data are informational only. You are solely responsible for evaluating your participation and for any tax obligations arising from it.

13.1 The Platform, including its software, design, branding, and content (excluding user content and open-source components under their own licenses), is owned by Strix Lab or its licensors. We grant you a limited, revocable, non-exclusive, non-transferable license to use the Platform for its intended purpose.

13.2 You may not copy, modify, reverse engineer, or create derivative works of the Platform except as permitted by law or applicable open-source licenses.

13.3 You grant Strix Lab a worldwide, royalty-free, sublicensable license to use, display, and distribute any content you submit to the Platform, including market proposals, comments, or usernames, in connection with operating and promoting the Platform.

14.1 The Platform integrates and depends on third-party services, including wallet infrastructure providers, blockchain networks (including the Base network and its sequencer), stablecoin issuers, oracle and resolution protocols (including UMA), data providers and indexers, and analytics services. Strix Lab does not control and is not responsible for third-party services, their availability, or their determinations, and your use of them may be subject to their own terms.

15.1 Our collection and use of personal data in connection with the Platform is described in our Privacy Policy, available on the Platform. Note that transactions on public blockchains are permanently and publicly recorded and are outside Strix Lab's control.

16.1 THE PLATFORM IS PROVIDED "AS IS" AND "AS AVAILABLE" WITHOUT WARRANTIES OF ANY KIND, WHETHER EXPRESS, IMPLIED, OR STATUTORY, INCLUDING WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE, AND NON-INFRINGEMENT. STRIX LAB DOES NOT WARRANT THAT THE PLATFORM WILL BE UNINTERRUPTED, ERROR-FREE, OR SECURE; THAT DISPLAYED DATA (INCLUDING PRICES, BALANCES, AND POSITIONS) WILL ALWAYS BE ACCURATE OR CURRENT; OR THAT ANY ORACLE OR RESOLUTION SOURCE WILL OPERATE CORRECTLY OR RESOLVE ANY MARKET IN ANY PARTICULAR MANNER.

17.1 TO THE MAXIMUM EXTENT PERMITTED BY LAW, STRIX LAB AND ITS AFFILIATES, DIRECTORS, OFFICERS, EMPLOYEES, AND AGENTS SHALL NOT BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES, OR ANY LOSS OF PROFITS, DATA, OR DIGITAL ASSETS, ARISING OUT OF OR RELATING TO YOUR USE OF THE PLATFORM, INCLUDING LOSSES ARISING FROM ORACLE DETERMINATIONS, SMART-CONTRACT DEFECTS, BLOCKCHAIN-NETWORK FAILURES, OR THIRD-PARTY SERVICES, REGARDLESS OF THE FORM OF ACTION, WHETHER IN CONTRACT, TORT (INCLUDING NEGLIGENCE), STRICT LIABILITY, OR OTHERWISE, AND EVEN IF STRIX LAB HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

17.2 TO THE MAXIMUM EXTENT PERMITTED BY LAW, THE AGGREGATE LIABILITY OF STRIX LAB FOR ALL CLAIMS ARISING OUT OF OR RELATING TO THE PLATFORM SHALL NOT EXCEED THE GREATER OF (A) THE TOTAL FEES YOU PAID TO STRIX LAB IN THE TWELVE MONTHS PRECEDING THE CLAIM AND (B) ONE HUNDRED U.S. DOLLARS (US$100).

17.3 Some jurisdictions do not allow certain limitations of liability; in such jurisdictions, the foregoing limitations apply to the fullest extent permitted.

18.1 You agree to indemnify and hold harmless Strix Lab and its affiliates, directors, officers, employees, and agents from and against any claims, damages, losses, and expenses (including reasonable legal fees) arising out of or relating to: your use of the Platform; your violation of these Terms (including any misrepresentation under Section 2); your violation of any law or third-party right; and any dispute between you and another user arising from a trade or market resolution.

19.1 Strix Lab may suspend or terminate your access to the Platform at any time, with or without notice, where we reasonably believe you have violated these Terms, where required by law or by a compliance determination under Section 3, or to protect the Platform or its users. Provisions that by their nature should survive termination (including Sections 11, 12, 13, and 16 through 23) survive.

19.2 Suspension or termination of Platform access does not by itself confiscate on-chain assets held by your wallet. Because the Platform is self-custodial, positions and unspent balances remain held by your wallet and the Platform's smart contracts, and winning positions remain redeemable directly through those smart contracts; however, Platform interfaces (including order placement and claim interfaces) may be unavailable to you.

20.1 Strix Lab is not liable for any failure or delay in performance resulting from causes beyond its reasonable control, including acts of God, natural disasters, war, terrorism, civil unrest, labor disputes, governmental or regulatory action, epidemics, power or telecommunications failures, blockchain-network outages or forks, sequencer failures, stablecoin depegging events, failures of third-party data sources or oracle protocols, and denial-of-service or similar attacks.

21.1 We may update these Terms from time to time. The "Last updated" date above reflects the latest revision.

21.2 Material changes take effect no earlier than the time they are announced under Section 21.3, and do not apply retroactively to trades matched before they take effect. Your continued use of the Platform after changes take effect constitutes acceptance of the revised Terms.

21.3 "Notice" under these Terms means publication of an announcement on the Platform's website or application, and, where you have provided contact details, may also include email or in-app notification.

22.1 These Terms and any dispute or claim arising out of or relating to them, the Platform, or your use of the Platform (including non-contractual disputes) are governed by the laws of the British Virgin Islands, without regard to conflict-of-laws principles.

22.2 Before initiating any formal proceeding, you agree to first contact us through the support channels listed on the Platform and attempt in good faith to resolve the dispute informally for a period of thirty (30) days from the date of your notice.

22.3 Any dispute not resolved informally shall be referred to and finally resolved by binding arbitration administered by the Singapore International Arbitration Centre ("SIAC") in accordance with the SIAC Rules in force at the time the arbitration commences. The seat of arbitration shall be Singapore; the tribunal shall consist of one arbitrator; and the language of the arbitration shall be English. Judgment on the award may be entered in any court of competent jurisdiction. Either party may seek interim or injunctive relief from a court of competent jurisdiction in aid of arbitration or to protect intellectual-property rights.

22.4 TO THE MAXIMUM EXTENT PERMITTED BY LAW: (A) ALL DISPUTES SHALL BE RESOLVED ON AN INDIVIDUAL BASIS ONLY; (B) YOU WAIVE ANY RIGHT TO PARTICIPATE IN A CLASS, COLLECTIVE, CONSOLIDATED, OR REPRESENTATIVE ACTION OR ARBITRATION; AND (C) YOU WAIVE ANY RIGHT TO A TRIAL BY JURY.

23.1 These Terms, together with the Privacy Policy, applicable market rules, and any program-specific terms referenced herein, constitute the entire agreement between you and Strix Lab regarding the Platform. If any provision is held unenforceable, it shall be modified to the minimum extent necessary and the remaining provisions remain in effect. Our failure to enforce a provision is not a waiver. You may not assign these Terms without our consent, and any purported assignment in violation of this Section is void; we may assign them in connection with a reorganization, merger, acquisition, or transfer of assets.

23.2 These Terms are drafted in English. Any translation is provided for convenience only, and the English version prevails in the event of conflict.

23.3 Questions about these Terms may be directed to us through the support channels listed on the Platform.