By using this Service, users are bound to and must abide by the Terms and Conditions for Prediction Market (“Terms”). Besides the Terms provided herein, all Users must abide by the WOO X Terms of Service. In addition, users should carefully read and fully understand all the guidelines, instructions, announcements, information, tutorial and FAQ of Prediction Market (“WOO Prediction Market Rules” or “the Rules”).
Users must complete and pass the KYC requirements the same as WOO X to be qualified to trade the Prediction Market Token (“Token”).
The Token will allow users to buy and sell Tokens representing the potential outcomes of future events. The value of the Token will be the perceived probability of the occurrence of a particular event (“Event”). To the extent as permitted by laws, these Events can range from, but are not limited to, the outcome of an election, popular sports events or any other predictable events that are legally allowed.
The Token reflects the live implied probability of an event taking place within a certain time period, and cannot be withdrawn or deposited. Only spot USDC pairs will be available.
WOO X may impose the limitation on the maximum amount for each Token to be bought by each account (inclusive of the sub-accounts) and such limitation may be updated or adjusted from time to time.
Settlement:
When each Event closes, each Token will be either worth 1 USDC if the implied outcome reflected by the Token happens, or 0 USDC if the implied outcome reflected by the Token did not happen.
When WOO X decides in its sole discretion that the possibility of such Event happening is reasonably close to zero or very low in the foreseeable future, it will be considered that none of the implied outcome of each Token happens, and WOO X will be entitled to all of the trading fees derived from the Tokens and also the Tokens of that specific Market. All users will not be refunded based on their respective prediction token holdings at settlement time, and the associated cost such as transaction fees when they purchased the respective tokens.
When the outcome of any Event is such that the FOMC gets postponed, it will be also considered that none of the users is right about the outcome, and WOO X will be entitled to all of the trading fees derived from the Tokens and also the Tokens of that specific Market. All users will not be refunded based on their respective prediction token holdings at settlement time, and the associated cost such as transaction fees when they purchased the respective tokens.
WOO X has full discretion to determine the Token trading period and the Company may close its trading function without further notice to the users.
Trading of Tokens will be subject to trading fees as detailed in each trading page.
Users shall represent to WOO X that, by trading the Tokens on WOO X, he is not (a) prohibited by or in violation of any domestic or foreign laws or regulations of any regulatory body that may have jurisdiction over himself or WOO X, or (b) contributing to or facilitating any illegal activity.
If the users are from the Unsupported Jurisdiction as listed in the WOO X Terms of Service or any of the following countries, the users are not eligible to trade the Tokens: Afghanistan, Canada, China, Cuba, Democratic Republic of Congo, Iran, Libya, Mali, Myanmar, North Korea, Poland, South Sudan, Sudan, Syria, Seychelles, Taiwan, the United States and its territories, and temporarily occupied territories of Ukraine.
Users shall be solely responsible for any tax duty incurred from the rewards received (if applicable).
WOO X reserves the right to disqualify any users if he/she engages in any inappropriate, dishonest, or abusive activities during the event, including but not limited to: wash trading, volume faking, participation in the competition with multiple accounts, market manipulation or matched trading activities.
WOO X may apply changes in any way, replace, or discontinue listing (temporarily or permanently) any of the Tokens at any time in its sole discretion.
WOO X reserves the right to modify the Terms without notifying the Users in advance.
WOO X reserves the right of final interpretation of this Terms. If you have any questions, please contact our customer service.
WOO X will not be responsible or liable for any losses (including, without limitation, any direct or indirect damages for loss of profits) resulting or arising directly or indirectly from your trading of Tokens or use of our service.
