Events Contract User Agreement

Publicado a 10/04/2026

Last updated: 7 July 2026

1. Overview

1.1 OKX event contract trading (the “Service”) is governed by this User Agreement is, depending on the specific user, offered by the OKX entity on which you are onboarded as a customer under the OKX Terms of Service (“OKX”, “we”, “our”, “us” or “Platform”).

1.2 The OKX Event Contract User Agreement (this “Agreement” or these “Terms”) governs your use of this Service and related services entered into by and between you (the “User” or “you”) and OKX. It is legally binding upon you and OKX. By accessing the Service and other relevant services provided by OKX, you agree and confirm that you have carefully read and fully understand the terms and conditions under these Terms (including any amendments made by OKX at any time), especially the terms which exclude or limit liabilities of the Platform under these Terms, and the terms that exclude or limit rights of the Users. If you do not accept these Terms or the contents of these Terms, or refuse to acknowledge and agree with the Platform’s right to unilaterally modify these Terms at any time, you have no right to use the Service provided by the Platform under these Terms and shall immediately stop using and accessing the Platform. Unless otherwise provided in these Terms, the terms used in these Terms shall have the meaning provided in the OKX Terms of Service.

1.3 The contents of these Terms also include OKX’s various system specifications, other agreements or rules in connection with or related to these Terms or this Service, and other relevant agreements and rules regarding the services that OKX may provide from time to time. Once the aforementioned contents are released or published, they are an integral part of these Terms, and you shall be legally bound by them. By using this Service, you confirm you have read, understood, and accepted these Terms, the OKX Terms of Service, Risk & Compliance Disclosure, any relevant terms and conditions, service terms, user agreements, transaction and operation rules, policies, announcements and other rules (as amended and restated from time to time) published by OKX from time to time in connection with this Service (“User Agreements”), and that you agree to be legally bound by any and all terms and conditions thereof. Unless you have read and accepted all the terms and conditions of these Terms and applicable User Agreements, you are not authorized to and shall not use this Service or any of its corresponding services.

1.4 The Terms and any applicable User Agreements constitute the entire agreement and understanding regarding the use of any or all of the Service, and any manner of accessing them, between: You and OKX, depending on your location, nationality, services used, and your level of KYC and/or KYB completed.

1.5 These Terms shall supplement our Terms of Service. In the event of any conflict or inconsistency of any term or provision set forth in these Terms and our Terms of Service, such conflict or inconsistency shall be resolved by giving precedence first to these Terms. All other provisions of our Terms of Service not modified by these Terms shall remain in full force and effect. All capitalized not defined herein shall have meaning ascribed to it in the Terms of Service.

2. Eligibility to Use the Service

2.1 You understand and acknowledge that:

  • You have agreed to abide by the Terms of Service and you are eligible and not prohibited from using the services defined therein, including the Service;

  • You have the experience and risk tolerance to use the Service, and have the experience and knowledge to invest in non-guaranteed cryptocurrency products;

  • You should carefully consider and use clear judgment to evaluate your financial condition and the abovementioned risks before making any decision to use this Service, and bear all the losses arising there from;

  • In order to use the Service, you have the ability to perform operations on the internet;

  • These Terms do not conflict with the laws of your country or region, and you agree to comply with the laws and regulations of your country or region;

  • You are the legal owner of the Digital Assets in your OKX account and guarantee that the sources of these Digital Assets are legal.

2.2 You agree and undertake that:

  • You shall not use the Service for any illegal purposes, including but not limited to illegal gambling, money laundering, fraud, extortion, data breaches, terrorist financing, and any other violent activities or any businesses prohibited by the law;

  • You shall not conduct, initiate or promote any forms of market manipulation or other forms of illegal conduct, including but not limited to illegal gambling, money laundering, fraud, extortion, data breach, terrorist financing, and any other violent activities or businesses prohibited by the law.

3. Definitions

3.1 The following definitions are applicable to the terms of this Agreement:

“Cap Strike” means, in respect of a Price Between Contract (as defined below), the upper boundary of the Settlement Range specified in the Contract Specifications. The Settlement Range extends up to, but does not include, the Cap Strike. For the avoidance of doubt, an Expiration Value equal to the Cap Strike results in a NO outcome.

“Contract Specifications” means the contractual rules and parameters for each Event Contract as published by OKX from time to time on the Platform, which include but not limited to the Underlying, Expiration Date, Settlement Value, Payout Criterion, and position limits.

“Digital Assets” means a digital representation of value or rights which may be transferred and stored electronically, using distributed ledger technology or similar technology, including, but not limited to, cryptocurrencies, stablecoins, non-fungible tokens and any other digital asset.

"Dispute Period" means the period of three (3) to five (5) minutes immediately following the initial determination of a Market Outcome, during which the Platform may review and, if necessary, correct the settlement result before it becomes final.

“Early Settlement” means, in respect of a Price Hit Contract, the settlement of such contract prior to the Expiration Date, triggered automatically upon the occurrence of a Touch Event during the live period of the relevant contract.

“Event Contract” means a contract listed on the Platform with a binary payout based on the occurrence or non-occurrence of a specified real-world event (typically YES or NO).

"Entry Price" means, in respect of a Price Up Down Contract (as defined below), the reference price of the Digital Asset at the commencement of the relevant observation window, as determined by the Underlying of an Event Contract.

“Expiration” means the time on the Expiration Date at which an Event Contract expires and the Expiration Value of that Event Contract is determined.

“Expiration Date” means the date established by the Contract Specifications on which the Expiration Value of each Event Contract is determined.

“Expiration Value” means the rate, level, amount, measure, or other value of the Underlying at Expiration, calculated as the arithmetic mean of the OKX Spot Index Price (as defined below) second-level K-line open prices sampled during the Settlement Observation Window (as defined below), expressed to the price precision specified in the Contract Specifications.

“Floor Strike” means, in respect of a Price Between Contract, the lower boundary of the Settlement Range specified in the Contract Specifications. The Settlement Range starts from, and includes, the Floor Strike. For the avoidance of doubt, an Expiration Value equal to the Floor Strike results in a YES outcome."

“Market Outcome” means the result of an Event Contract. Where the Expiration Value falls within the parameters defined by the Payout Criterion, the Market Outcome shall be designated as "YES" (indicating that the specified event has occurred or the relevant threshold has been met). Where the Expiration Value does not satisfy the Payout Criterion, the Market Outcome shall be designated as "NO". The Contract Specifications may prescribe alternative or additional Market Outcome designations for specific Event Contracts.

“Non-Trading Hours” means, in respect of a Price Hit Contract referencing XAU (Gold) as the Underlying, the periods during which the CME (Chicago Mercantile Exchange) is not open for trading, including weekends and daily close windows, as further specified in the applicable Contract Specifications.

"OKX Spot Index Price" means the real-time composite spot price index published by the Platform for a given Digital Asset, calculated by reference to prices across multiple leading spot exchanges in accordance with OKX's published index methodology.

“Outcome Review” means the process by which OKX, at its sole discretion, may review and determine the final Market Outcome where circumstances arise that may have a material impact on the reliability or transparency of the Underlying, as further described in Clause 8.

“Payout Criterion” means the Expiration Value or set of Expiration Values that will cause an Event Contract to pay a Settlement Value to the holder of a long position (or short position, as applicable) in such Event Contract. The positionholder that receives a Settlement Value is considered to be “in-the-money” while the positionholder that does not receive a Settlement Value is considered to be “out-of-the-money.”

“Position” means a User’s holding in one or more Event Contracts, which may be either a long position (a “buy” or “YES” position) or a short position (a “sell” or “NO” position).

"Price Above Contract" has the meaning given in Clause 4.2 of this Agreement.

“Price Between Contract” has the meaning given in Clause 4.4 of this Agreement.

“Price Hit Contract” has the meaning given in Clause 4.3 of this Agreement.

"Price Up Down Contract" has the meaning given in Clause 4.1 of this Agreement.

“Settlement” means payment to Users who have the right to receive the Settlement Value pursuant to an Event Contract, held until Expiration.

“Settlement Latency Window” means, in respect of a Price Hit Contract, the period of approximately two (2) seconds between the occurrence of a Touch Event and the halting of trading on the affected contract market, during which orders may continue to be matched and executed on the Platform.

"Settlement Observation Window" means the closed interval of sixty (60) seconds immediately before the Expiration (i.e., [Expiration − 60s, Expiration − 1s]), yielding sixty (60) data points.

“Settlement Range” means, in respect of a Price Between Contract, the price range specified in the Contract Specifications bounded by the Floor Strike (lower boundary, inclusive) and the Cap Strike (upper boundary, exclusive), that is a price equals to or greater than the Floor Strike and strictly less than the Cap Strike falls within the Settlement Range.

“Settlement Value” means the amount which the holder of an Event Contract may receive for such Event Contract held until Expiration.

"Strike Price" means, in respect of a Price Above Contract or a Price Hit Contract, the specified price level of the underlying Digital Asset which constitutes the Payout Criterion, as set out in the relevant Contract Specification.

“Touch Event” means, in respect of a Price Hit Contract, the occurrence during the live period of the relevant contract of any 1-second K-line High or Low value of the OKX Spot Index Price that satisfies the touch condition specified in the Contract Specifications (being, for a Price-Hit-Up contract: OKX Spot Index Price ≥ Strike Price; and for a Price-Hit-Down contract: OKX Spot Index Price ≤ Strike Price). For avoidance of doubt, touch detection is suspended during Non-Trading Hours for XAU Underlyings.

“Touch Timestamp” means the timestamp of the 1-second K-line period during which a Touch Event is detected, as recorded by OKX’s settlement system. The Touch Timestamp serves as the reference point for determining the settlement price for Early Settlement purposes.

“Underlying” means the index, rate, risk, measure, instrument, differential, indicator, value, contingency, occurrence, or extent of an occurrence that forms the basis of an Event Contract and determines whether such Event Contract is settled in-the-money.

4. Using the Services

4.1 Price Up Down Contracts. A Price Up Down Contract is a binary-outcome contract in which the Payout Criterion is whether the price of the Underlying at the Expiration is directionally higher ("Up") or lower ("Down") than the Entry Price, as specified in the Contract Specification.

4.2 Price Above Contracts. A Price Above Contract is a binary-outcome contract in which the Payout Criterion is whether the price of the Underlying at the Expiration on the Expiration Date is equal to or above the Strike Price specified in the Contract Specifications.

4.3 Price Hit Contracts. A Price Hit Contract is a binary-outcome contract in which the Payout Criterion is whether the OKX Spot Index Price of the Underlying touches or reaches the Strike Price at any point during the live period of the contract.

4.4 Price Between Contracts. A Price Between Contract is a binary-outcome contract in which the Payout Criterion is whether the Expiration Value at the Expiration falls within the Settlement Range specified in the Contract Specifications.

5. Account Funding and Collateral Requirements

5.1 Full Collateralisation. All Events Contract Positions must be fully funded prior to opening. OKX will not permit a User to open a Position without sufficient funds in the User's designated Events Contract balance to cover the full cost of the Position.

5.2 Funding Your Account. Prior to trading, Users must transfer eligible assets to their designated Events Contract balance on the Platform. The Platform will specify permitted funding currencies and transfer methods from time to time.

5.3 Collateral Hold. Upon the User's submission of an order, the Platform will place a hold on the funds required to collateralise that order. Funds subject to a hold may not be withdrawn or used for other purposes until the relevant order is cancelled or the Position is closed or settled.

5.4 No Margin or Leverage. Events Contracts do not employ margin or leverage. No margin calls will be issued. A User's maximum loss is limited to the funds committed at the time of opening the Position.

5.5 Funds in Transit. The Platform is not liable for delays in crediting or debiting your Events Contract balance resulting from third-party payment systems, network congestion, or technical errors outside the Platform's reasonable control.

6. Order Mechanics and Trading

6.1 Order Types. Events Contracts may be traded by submitting orders through OKX's order book interface. Orders may be placed as:

a. Buy / YES Orders to acquire a long Position, reflecting the view that the Market Outcome will be YES; or

b. Sell / NO Orders to acquire a short Position, reflecting the view that the Market Outcome will be NO.

6.2 Minimum Trading Unit. The minimum unit of trading for an Events Contract is as specified in the relevant Contract Specifications.

6.3 Minimum Price Increment. The minimum price increment for each Events Contract is as specified in the relevant Contract Specifications. Unless otherwise specified, the minimum increment is 0.01 per Contract (or its equivalent in the Platform's designated pricing unit). Order prices must be within the range of 0.01 to 0.99 (inclusive) per Event Contract unit. Orders at prices outside this range will be rejected.

6.4 Order Matching. Orders are matched on the Platform's central order book on a price-time priority basis. A match between a Buy / YES Order and a Sell / NO Order results in a binding trade between the parties at the matched price.

6.5 Opening and Closing Positions. Users may open new Positions or reduce or close existing Positions at any time during the trading hours specified for a given Event Contract, subject to market availability, applicable Position Limits, and the terms of this Agreement.

6.6 Order Cancellation by User. Users may cancel any unmatched order at any time prior to execution.

6.7 Trading Hours. OKX shall specify trading hours for each Events Contract in the relevant Contract Specifications. The Platform may modify trading hours with reasonable notice or immediately in the event of a market disruption.

7. Settlement

7.1 Settlement Trigger. Upon the Expiration (or, in respect of Price Hit Contracts, upon detection of a Touch Event triggering Early Settlement), OKX will determine the Market Outcome for the relevant Event Contract by reference to the OKX Spot Index Price at the Touch Timestamp. For all other Event Contracts, the Market Outcome is determined by reference to the Expiration Value obtained from the Underlying of the Event Contract at Expiration.

7.2 In the event that the Market Outcome is YES, (i) positionholders of Buy / YES Positions will receive the Settlement Value per unit of Event Contract held; and (ii) positionholders of Sell / NO Positions will receive zero in respect of their settled Event Contract units.

7.3 In the event that the Market Outcome is NO, (i) positionholders of Sell / NO Positions will receive the Settlement Value per unit of Event Contract held; and (ii) holders of Buy / YES Positions will receive zero in respect of their settled Event Contract units.

7.4 Price Up Down Settlement. For Price Up Down Contracts, the Expiration Value is compared to the Entry Price as follows to determine whether the Payout Criterion is met:(a) for an "Up" prediction - YES if Expiration Value is higher or equal to Entry Price; NO if Expiration Value is lower than Entry Price;(b) for a "Down" prediction - YES if Expiration Value is lower than Entry Price; NO if Expiration Value is higher or equal to the Entry Price.

OKX shall settle Price Up Down Contracts periodically at each Expiration (standardised intervals of 15 minutes or 1 hour as may be applicable). There shall be four (4) rolling expiries at 15-minute intervals (covering one (1) hour of rolling exposure at any given time). For the avoidance of doubt, Settlement does not occur prior to Expiration.

7.5 Price Above Settlement. For Price Above Contracts, settlement occurs solely on the Expiration Date at the Expiration. The Expiration for daily Price Above Contracts is 16:00 HKT (Hong Kong Time):-(a) YES if Expiration Value is higher or equal to the Strike Price;

(b) NO if Expiration Value is lower than the Strike Price.

OKX will not settle a Price Above Contract, and will not make any payment hereunder, prior to the Expiration Date, irrespective of the price of the Underlying at any intervening time. For the avoidance of doubt, Settlement does not occur prior to Expiration for Price Above Contracts.

7.6 Price Hit Settlement. Settlement of Price Hit Contracts shall proceed as follows:(a) Early Settlement on Touch. Where a Touch Event is detected in respect of a Price Hit Contract: (i) OKX will immediately halt trading on the affected contract market; (ii) the settlement price shall be the OKX Spot Index Price at the Touch Timestamp; (iii) the Market Outcome shall be YES; and (iv) Settlement Value shall be paid to holders of YES Positions upon completion of OKX's internal settlement process. For the avoidance of doubt, the standard Dispute Period in Clause 7.9 (Two-Stage Settlement) does not apply to Hit Early Settlement. (b) Settlement Latency. OKX's touch detection and trading halt systems target a processing latency of approximately two (2) seconds from the Touch Event to the halt of trading. During the Settlement Latency Window, trades may be matched and executed on a contract market that has technically been triggered. The treatment of such trades shall be as specified in the Contract Specifications. Please also refer to the Event Contracts Hit settlement and dispute rules for further details.(c) Expiry Settlement (No Touch). In respect of digital asset Underlyings, where no Touch Event has been detected prior to the Expiration: (i) OKX will conduct an expiry-time validation check using 1-minute K-line data, inspecting the High and Low values of the 1-minute K-line period immediately preceding the Expiration to confirm that no Touch Event was missed during that period; (ii) if the 1-minute K-line validation confirms no Touch Event, the Market Outcome shall be NO and the relevant contract shall settle at the Expiration; (iii) if the 1-minute K-line validation identifies a missed Touch Event, OKX shall suspend settlement and initiate the review process as described in Clause 8.(d) XAU Non-Trading Hours Exclusion. For Price Hit Contracts referencing XAU (Gold) as the Underlying, touch detection is suspended during Non-Trading Hours and OKX's 1-minute K-line validation process will not inspect data points falling within Non-Trading Hours.(e) Continuous 1-Minute K-Line Validation. Throughout the live period of each Price Hit Contract, OKX operates a continuous 1-minute K-line validation as a secondary check alongside real-time 1-second K-line detection. At the start of each minute, OKX inspects the High and Low values of the preceding 1-minute K-line period against the Strike Price to ensure no Touch Event has been missed during that particular minute. If this check identifies a Touch Event that was not captured by the real-time detection system, OKX will immediately initiate Early Settlement in accordance with Clause 7.6(a). This mechanism runs continuously throughout the entire live period of the relevant contract. OKX will not wait until the Expiration to conduct this check. The expiry-time validation in Clause 7.6(c) represents the final instance of this same mechanism, applied to the 1-minute period immediately preceding the Expiration. For XAU Underlyings, this continuous validation is subject to the Non-Trading Hours exclusion in Clause 7.6(d).

7.7 Price Between Settlement. For Price Between Contracts, settlement occurs solely at the Expiration in accordance with the expiry settlement pipeline applicable to Price Above Contracts. The Settlement Observation Window and data fallback provisions in Clause 8.4 apply to Price Between Contracts in the same manner as Price Above Contracts. The Market Outcome is determined as follows:

(a) YES if Floor Strike ≤ Expiration Value < Cap Strike; or

(b) NO if the Expiration Value does not satisfy the condition in (a).

For the avoidance of doubt, an Expiration Value exactly equal to the Floor Strike results in YES and an Expiration Value exactly equal to the Cap Strike results in NO.

OKX will not settle a Price Between Contract, and will not make any payment hereunder, prior to the Expiration Date, irrespective of the price of the Underlying at any intervening time. Settlement of edge markets (below the minimum Floor Strike and at or above the maximum Cap Strike) shall be determined in accordance with the applicable Contract Specifications.

7.8 USDT Settlement. All Events Contracts are settled in USDT. No underlying Digital Asset is delivered, transferred, or otherwise conveyed to any User in connection with any Event Contract. Settlement amounts will be credited to the User's account on OKX following Settlement of the Market Outcome.

7.9 Two-Stage Settlement. Settlement of Events Contracts shall proceed in two stages as follows:-

(a) Dispute Stage. Immediately following the initial determination of the Market Outcome, the result enters the Dispute Period, which is approximately three (3) to five (5) minutes. During the Dispute Period, (i) the Market Outcome and profit/loss are visible to the User and recorded in the User's account; (ii) OKX may initiate a Market Outcome Review; and (iii) any Settlement Value credited as a result of a YES outcome are subject to a temporary transfer restriction and may not be withdrawn by the User pending expiry of the Dispute Period.

(b) Final Settlement. If no review is initiated during the Dispute Period, the Market Outcome becomes final and binding upon expiry of the Dispute Period, and any transfer restrictions on credited Settlement Value are lifted. Once final Settlement is reached, the Market Outcome cannot be reversed except in the limited circumstances described herein.

8. Market Outcome Determination and Review

8.1 Initial Determination. OKX will determine the Market Outcome for each Event Contract based on the Expiration Value obtained from the Underlying at Expiration.

8.2 Review Trigger. OKX may initiate a Market Outcome review process to determine if:

(a) there is material ambiguity or dispute regarding the applicable Expiration Value;

(b) the Underlying was subject to a material error, disruption, or manipulation at or around the Expiration;

(c) an extraordinary event has occurred that renders an automatic determination inappropriate or unreliable; or

(d) review is otherwise required to preserve the integrity and orderly settlement of the Events Contract.

8.3 Outcome Review Committee. OKX may establish an Outcome Review Committee (or equivalent body) with authority to review and determine the final Market Outcome in disputed or ambiguous cases. The Outcome Review Committee shall use its reasonable judgment and act in good faith in making its determination. The determination of the Outcome Review Committee shall be final and binding on all Users.

8.4 Settlement Price Data Fallback. Where OKX Spot Index Price data is unavailable or incomplete at the Expiration, the following fallback logic applies:-

a. For Price Up Down Contracts (60-point Settlement Observation Window): (i) if thirty (30) or more of the sixty (60) required second-level index price data points are available, the Settlement Price is the arithmetic mean of the available data points; (ii) if fewer than thirty (30) data points are available, OKX will automatically suspend settlement for that Events Contract, initiate the Dispute Period, and refer the matter for manual review and determination in accordance with this Clause 8.

b. For Price Above Contracts (60-point Settlement Observation Window as described herein): (i) if thirty (30) or more of the sixty (60) required data points are available, the Settlement Price is the arithmetic mean of the available data points; (ii) if fewer than thirty (30) index data points are available but thirty (30) or more OKX spot last-trade-price data points are available for the same window, OKX will use the arithmetic mean of spot last-trade prices as a fallback Settlement Price; (iii) if fewer than thirty (30) spot data points are also available, OKX will suspend settlement, initiate the Dispute Period, and refer the matter for manual review.

c. For Price Hit Contracts (Early Settlement): where OKX Spot Index Price data is unavailable at the Touch Timestamp, OKX will suspend Early Settlement, initiate the Dispute Period, and refer the matter for manual review in accordance with this Clause 8. Where the real-time monitoring system fails to detect a Touch Event that in fact occurred (a Missed Touch), the expiry-time validation process in Clause 7.6(c) shall apply and, if a Missed Touch is confirmed, OKX will initiate the review process stipulated herein. For Price Hit Contracts settling at Expiration (no touch), the same fallback provisions applicable to Price Above Contracts under Clause 8.4(b) apply.

d. For Price Between Contracts: the same fallback provisions applicable to Price Above Contracts under Clause 8.4(b) apply, as Price Between Contracts use the same expiry settlement pipeline as Price Above Contracts.

In all cases of suspension, affected Users will be notified promptly and transfer restrictions on profitable positions will remain in place until final Settlement is determined. OKX may also: (i) apply an alternative reference price or methodology as specified in the Contract Specifications or as determined in OKX's reasonable discretion; (ii) delay or suspend settlement pending resolution of the disruption; or (iii) cancel or void the relevant Event Contract, in each case acting in good faith. OKX will notify affected Users of any such determination via its notifications system as soon as practicable.

8.5 No Liability for Good Faith Determinations. Subject to Clause 11, OKX shall not be liable to any User for any determination made in good faith in respect of a Market Outcome, whether under the initial determination process or following a Market Outcome Review.

9. Position Limits

9.1 Position Limits. OKX may impose maximum net Position limits ("Position Limits") on the aggregate open interest that any User may hold in any single Event Contract. Position Limits are expressed as a maximum USD-equivalent USDT value of open positions per event and are configurable by OKX. Additional or different Position Limits may apply by jurisdiction as required by applicable law. Applicable Position Limits will be published on OKX and may be amended from time to time.

9.2 Enforcement. Where a User's Position exceeds an applicable Position Limit, OKX may take such steps as it reasonably deems necessary to bring the Position within permitted levels, including cancelling open orders and closing Positions at prevailing market prices. OKX shall not be liable for any loss suffered by a User as a direct result of enforcement action taken under this Clause.

9.3 Aggregation. For the purposes of applying Position Limits, the Platform may aggregate Positions held by accounts that it reasonably determines to be related, affiliated, or acting in concert.

10. Representations and Warranties

10.1 You hereby represent, warrant and undertake that:

(1) The source of the Digital Assets deposited in your OKX account is legal, and the ownership is not disputed;

(2) The assets you have deposited or will deposit with OKX are unencumbered and free from all mortgages, charges, liens, security interests, or other claims.

(3) The Digital Assets deposited in your OKX account are not subject to any litigation, preservation, mortgage, judicial freeze, and enforcement and thus becomes unenforceable, otherwise you shall be deemed to have breached these Terms and shall bear all responsibilities;

(4) You will not infringe the legitimate rights and interests of OKX;

(5) You are not on the sanctions list issued by any government and international organizations;

(6) If the above representations, warranties and covenants are no longer correct, complete and valid due to changes in the applicable laws, you will immediately notify OKX in writing.

10.2 You hereby acknowledge that if you breach the foregoing representations, warranties and covenants, OKX shall have the right to stop providing you with any and all services (including but not limited to this Service). If OKX suffers losses due to your breach of the foregoing representations, warranties, and covenants, OKX has the right to hold you liable and you agree to indemnify and hold OKX harmless for the breach of these Terms.

11. Limitation of Liability

11.1 Risk Disclosure

(1) YOU EXPRESSLY AGREE THAT YOUR USE OR NON-USE OF THIS SERVICE AND RELATED SERVICES ARE AT YOUR OWN RISK. EXCEPT AS EXPRESSLY PROVIDED TO THE CONTRARY UNDER THESE TERMS, THE SERVICES, ALL PRODUCTS AND SERVICES PROVIDED TO YOU THROUGH THIS SERVICE AND RELATED SERVICES PROVIDED TO YOU ARE STRICTLY OFFERED ON AN “AS IS” AND “AS AVAILABLE” BASIS, AND OKX AND ITS AFFILIATES OR ITS SERVICE PROVIDERS OR SUPPLIERS MAKE NO REPRESENTATIONS, WARRANTIES, OR GUARANTEES TO YOU OF ANY KIND, EITHER EXPRESS OR IMPLIED, INCLUDING WITHOUT LIMITATION, MERCHANTABILITY, QUALITY OR FITNESS FOR A PARTICULAR PURPOSE, TITLE, OR NON-INFRINGEMENT, NO ERRORS OR OMISSIONS, CONTINUITY, ACCURACY, RELIABILITY OF THIS SERVICE. SOME JURISDICTIONS DO NOT ALLOW THE EXCLUSION OF IMPLIED WARRANTIES IN CONTRACTS, SO THE ABOVE EXCLUSION MAY NOT APPLY TO YOU. OKX DOES NOT MAKE ANY UNDERTAKINGS AND WARRANTIES FOR THE VALIDITY, ACCURACY, CORRECTNESS, RELIABILITY, QUALITY, STABILITY, COMPLETENESS OR TIMELINESS OF THE TECHNOLOGY AND INFORMATION IN CONNECTION WITH THIS SERVICES OR OTHER SERVICES PROVIDED BY THE OKX.

(2) NOTHING IN THESE TERMS SHALL EXCLUDE OR LIMIT LIABILITY OF EITHER PARTY FOR FRAUD, DEATH OR BODILY INJURY CAUSED BY NEGLIGENCE, VIOLATION OF LAWS, OR ANY OTHER ACTIVITY THAT CANNOT BE LIMITED OR EXCLUDED BY LAW OR REGULATIONS.

(3) Like any asset, the value of Digital Assets may fluctuate significantly, and there is a huge risk that Users may incur economic losses when buying, selling, holding or investing in Digital Assets and other related transactions. The choice of using and how to use the Services of the Platform is the User’s personal decision, and the User shall bear any and all of the risks and potential Losses. OKX does not make any express or implied warranties regarding the market, value or price of Digital Assets. Users acknowledge and understand the instability of the Digital Asset market. The price and value of Digital Assets may fluctuate or collapse at any time. Trading Digital Assets is the free choice and decision of Users, and Users shall solely bear their own risks and possible losses. Your use of this Service means that you confirm and agree: (1) You fully understand all of the risks associated with Digital Assets and related transactions; (2) You agree to solely bear any and all risks and Losses associated with the use of these Services and engaging in any transactions involving Digital Assets; and (3) OKX shall not be responsible for any of these risks or Losses or any other adverse consequences.

(4) The Platform cannot guarantee the authenticity, sufficiency, reliability, accuracy, completeness or validity of the content on the Platform, and shall not bear any legal liability arising therefrom. The User shall rely on the User’s independent judgment to conduct transactions, and the User shall bear all responsibilities for User’s judgment and/or decisions.

(5) Digital Assets involve a high degree of risk. Using the Service involves market risk, smart contract risk, liquidity risk, oracle risk, volatility risk, and legal and compliance risks, among other risks. Digital Assets are not the legal tender of any government, and their value is not guaranteed by a specific government. The value of Digital Assets may fluctuate greatly. Users shall be fully aware of the above risks and should exercise caution when conducting any transactions regarding Digital Assets. Users of the Service must have sufficient financial capability, maturity, experience and willingness to bear all investment risks and potential investment losses. Thus, Digital Asset investment is not suitable for all investors.

(6) You understand and accept the risks that you may incur by using this Service, and the related losses that you may suffer as a result, including but not limited to:

  • The key risks of using the Service are related to market price fluctuations. In a highly volatile market, it may be difficult for users to predict the market price at maturity date; high price volatility of Digital Assets and their derivatives may cause significant or total losses in a short period of time; and you are willing and able to bear all risks caused by market price fluctuations and any economic losses you may suffer;

  • Once the Digital Assets you hold are frozen due to use of this Service, you will not be able to trade the frozen Digital Assets and accept the risks associated with the inability to trade these Digital Assets, you are willing to bear the risks arising from locking your Digital Assets and any economic losses you may suffer;

  • If OKX terminates this Service for any reason whatsoever, which it may do at its complete discretion, you may not be able to obtain the expected profits within the expected holding period (if any) which may result in the loss of your Digital Assets;

  • If there is a force majeure event, or a force majeure event that causes the price of Digital Assets to collapse, it may cause loss of your Digital Assets;

  • Technical abnormalities may occur, which may delay or prevent you from using this Service or conducting related transactions, which may cause loss of your Digital Assets;

  • Market abnormalities may occur, which may cause loss of your Digital Assets;

  • In order to maintain the overall health of the market, OKX may add, delete, or modify the relevant provisions of these Terms, the policies, the terms and conditions or other related User Agreements, service agreements or terms from time to time. Such modifications may benefit or harm you.

You confirm that you fully understand the nature, risks and potential losses related to the Service. Before making a decision to use the Service, you should exercise independent judgment and carefully consider using the Service based on your own investment experience and capability, financial situation, investment objectives, investment period, willingness and ability to bear investment risks, the extent of your understanding of the nature and risks of this product, and other relevant circumstances. The aforementioned risks do not include all the risks and all the market conditions of the User’s transactions related to this Service. If you have any questions or concerns, please seek advice from an independent financial advisor and/or legal counsel.

11.2 The trading market is volatile and may change rapidly in terms of liquidity, market and trading dynamics. You are fully responsible and liable for any and all trading and non-trading activities and your account used on or through the OKX Platform. You acknowledge and agree to be fully responsible for all your transactions and non-trading behaviours and omissions on OKX or through OKX, as well as all gains and losses arising from your use of the OKX website and this Service and any other services provided on the OKX Platform. You are responsible for any of your assets and liabilities in your OKX account, and you are responsible for all your obligations for all your financial activities on OKX. OKX is not responsible for any and all losses arising from this Service and any other services provided on the OKX Platform and shall not assume any compensation or any other responsibility.

11.3 You agree and accept that when you redeem your assets, the time it takes for you to receive the Digital Assets in your account may vary and the assets received and displayed on the Platform shall be final. OKX shall not be liable for any losses caused by or related to time differences or discrepancies for receipt of Digital Assets.

11.4 You agree and accept that OKX reserves the right to amend the content of this Agreement any time in its sole discretion, including when you are using the Service. OKX shall not be liable for any losses arising from your misunderstanding of this Agreement, or your delay of reading the amendments to this Agreement.

11.5 You agree and accept that if the OKX Platform cannot function properly or the Service is interrupted arising from the following conditions, such that you are unable to use the Service or cannot make commands or perform related trading operations, including but not limited to failure, delay, interruption, lack of system response, delayed system response or any other abnormal circumstances, OKX and its affiliates shall not be liable for any losses. These circumstances include but are not limited to:

  • Service suspension for maintenance as announced by OKX;

  • Hacker attack(s) on the OKX Platform;

  • Failure to transmit data as a result of telecom equipment failures;

  • Force majeure events or accidents, such as but not limited to typhoons, earthquakes, tsunamis, flooding, plagues, power outage, war, turmoil, government actions, terrorist attacks and any other events that may lead to the suspension of the OKX Platform;

  • Service interruption or delay arising from hacking, computer virus, technical adjustment or failure, website upgrades, banking issues, temporary closure arising from government regulations and any other reasons;

  • Service interruption or delay caused by OKX’s systems being damaged, defective or unable to perform normally for any reason;

  • Losses arising from technical problems that cannot be predicted or solved by existing technical forces in the industry;

  • Losses suffered by you or other third parties arising from the fault or delay of the third party;

  • Losses suffered by you or other third parties arising from changes in laws and regulations or government orders;

  • Losses suffered by you or other third parties arising from force majeure events or accidents caused by other objectively unforeseeable, unavoidable and/or unsolvable circumstances.

You agree and accept that the aforementioned reasons may lead to abnormal transactions, market interruptions and other possible abnormal circumstances, and OKX reserves the right to refuse to or for any reason in its sole discretion to not execute your commands based on the actual circumstances. You understand and agree that OKX shall not be liable for any of your losses (including but not limited to direct or indirect losses, actual losses, or loss of possible yield and other similar or related losses).

11.6 Software Protocols and Operational Challenges

  • Software protocols that underlie Digital Assets are typically open source projects, which means that: (i) the development and control of such Digital Assets are outside of OKX’s control, and (ii) such software protocols are subject to sudden and dramatic changes that may have a significant impact on the availability, ease of use, or value of a given Digital Asset. You also are aware of and accept the risks associated with operational challenges. OKX may experience sophisticated cyber attacks, unexpected surges in activity or other operational or technical difficulties that may cause interruptions to the Service. You understand that the Service may experience operational issues that lead to delays. You agree to accept the risk of transaction failure resulting from unanticipated or heightened technical difficulties, including those resulting from sophisticated attacks. You agree that OKX shall not be responsible or liable for any related losses.

  • You understand that the technology underlying Digital Assets is subject to change at any time, and such changes may affect your Digital Assets stored on the Platform. You agree to be fully responsible for monitoring such technological changes and understanding their consequences for and regarding your Digital Assets. Users conduct all trading and make all related decisions based on their own volition, and OKX shall not be liable for any loss or damage incurred as a result of your use of any Services or your failure to understand the risks involved or associated with Digital Asset use in general or your use of our Services.

11.7 OKX strictly prohibits unfair trading behaviours. OKX reserves the right to enact, under its sole discretion, and take control over your account, if you:

  • are involved in price manipulation, insider dealing, market manipulation, market distortion or any other malicious wrongdoings to the market;

  • might be harming other users or OKX by exploiting the Service’s vulnerabilities or by other unreasonable means;

  • are involved in any other activities that OKX deems harmful to the overall well-being of the market.

OKX also reserves the right to take actions including but not limited to closing your accounts, limiting trading, halting trading, cancelling transactions, rolling back transactions and returning the relevant Digital Assets to any complainant so as to eliminate any adverse effects to the overall wellbeing of the market. In no event shall OKX be liable to you for any loss incurred when such action against you happens, and OKX has the right to hold you liable and you agree to indemnify and hold OKX harmless for the breach of these Terms.11.8 You agree and accept that OKX shall not be liable for any losses caused by the risks described herein (including but not limited to any direct or indirect losses, actual losses or possible loss of profits).11.9 The aforementioned provisions do not indicate all the risks arising from or related to your transactions through the Platform or all the conditions of the market. Before making any trading decisions, you shall fully understand the relevant Digital Assets; make cautious and prudent decisions based on your own trading objectives, risk tolerance, and financial conditions; and solely bear all risks and losses.

12. Indemnification

12.1 You shall take all possible measures to ensure that OKX is held harmless from any damages caused by your use of the Service or other activities related to your OKX account, otherwise you shall be liable for losses suffered by OKX.

12.2 You hereby acknowledge and agree to defend and indemnify OKX from any claims or requests (including reasonable legal fees) resulting from your breach of these Terms, your improper use of OKX services, your violation of any laws or infringement of any third party rights, any third party’s actions or omissions with respect to the authorized use of your OKX account, OKX website, app, and systems (including networks and servers used to provide any OKX services, regardless of whether such websites, apps, and systems are operated by OKX, or operated for OKX, or operated to provide OKX services to you), and make every effort to hold OKX harmless.

13. Risk Disclosure

EVENTS CONTRACTS INVOLVE SIGNIFICANT FINANCIAL RISK. YOU MAY LOSE THE ENTIRE AMOUNT INVESTED. THESE PRODUCTS MAY NOT BE SUITABLE FOR ALL INVESTORS. DO NOT TRADE WITH FUNDS YOU CANNOT AFFORD TO LOSE.

13.1 Binary Outcome Risk. Events Contracts have a binary settlement structure. If your prediction is incorrect, you will lose the full amount invested in a Buy / YES Position (or, for a Sell / NO Position, an amount equal to the Settlement Value less the consideration initially received). There is no intermediate recovery of losses.

13.2 Price Above Contracts are European-style instruments and settle only on the Expiration Date. You cannot realise a gain or limit a loss on a Price Above Contract by reference to the price of the Underlying prior to the Expiration Date.

13.3 (Price Hit Contracts) Early Settlement and Settlement Latency Risk. Price Hit Contracts are subject to Early Settlement upon a Touch Event.

(a) Settlement Latency Risk. OKX targets a processing latency of approximately two (2) seconds between a Touch Event and the halt of trading. During the Settlement Latency Window, your orders may be matched and executed at prices that do not reflect the value of the contract post-settlement. The treatment of such trades is set out in the Contract Specifications.

(b) Index Monitoring Risk. The occurrence of a Touch Event depends on the accuracy and continuity of OKX's real-time 1-second index monitoring. In the event of a monitoring failure, a Touch Event may not be detected in real time. OKX's expiry-time validation process is designed to identify Missed Touches; however, OKX cannot guarantee real-time detection in all circumstances.

(c) XAU Non-Trading Hours. For Price Hit Contracts referencing XAU (Gold) as the Underlying, touch detection is suspended during Non-Trading Hours. A price movement during Non-Trading Hours that would otherwise satisfy the touch condition will not trigger Early Settlement. Users should review the applicable Contract Specifications for the precise Non-Trading Hours exclusion.

(d) Immediate Settlement on Touch. Once a Touch Event has been confirmed and Early Settlement has been triggered, you cannot reverse or cancel your position by reference to any subsequent price movement.

13.4 (Price Between Contract) Range Settlement Risk. Price Between Contracts settle solely at the Expiration based on whether the Expiration Value falls within the Settlement Range.

(a) European-Style Settlement. Even if the Underlying price moves significantly outside the Settlement Range during the live period of the contract, you cannot realise a gain or limit a loss by reference to any intervening price. Only the Expiration Value is determinative.

(b) Boundary Risk. The Floor Strike is inclusive and the Cap Strike is exclusive. An Expiration Value exactly equal to the Floor Strike results in YES, but an Expiration Value exactly equal to the Cap Strike results in NO. You should carefully review the Contract Specifications for the precise boundary values applicable to each contract.

(c) Edge Market Risk. Each Price Between Contract event includes edge markets covering unbounded price ranges. The parameters of each edge market are set out in the Contract Specifications. Users should review the Contract Specifications before trading edge markets.

13.5 Liquidity Risk. There is no guarantee that a liquid market will exist for any Events Contract at any time. You may be unable to close a Position at a favourable price, or at all, in illiquid market conditions. Illiquidity may result in your Position being held to Expiration.

13.6 Reference Price Risk. Settlement is dependent on the availability and accuracy of the Underlying. In the event of disruption to the Underlying at or around the Expiration, settlement may be delayed, modified, or cancelled as described herein.

13.7 Underlying Volatility. The price of the Underlying may be highly volatile and subject to rapid and unpredictable changes. Past performance of the Underlying is not indicative of future results, and no representation is made as to any price movement.

13.8 Regulatory Risk. The regulatory treatment of Events Contracts varies by jurisdiction and may change without notice. Changes in applicable law or regulation may affect OKX's ability to offer Events Contracts in your jurisdiction and may result in the suspension, modification, or termination of Events Contract services.

13.9 Technology and Cyber Risk. Trading on OKX is subject to risks arising from technology failures, cyber-attacks, internet disruptions, and other technical events that may affect the availability of OKX platform or the integrity of orders and settlement data.

13.10 No Investment Advice. Nothing in this Agreement, any Contract Specifications, or any other communication from OKX constitutes investment, financial, legal, or tax advice. You should obtain independent professional advice before trading Events Contracts, having regard to your personal financial circumstances, investment experience, and risk tolerance.

The User acknowledges and agrees that no information provided by OKX, notwithstanding whether included in these Terms or any other document or statement, shall be deemed as business, legal, financial or tax advice. The User may and should consult his own business, legal, financial or tax advisers regarding especially, inter alia, the individual chances, opportunities, risks, obligations or further costs arising from the reception of and in connection with Digital Assets under this this Service. OKX is not your broker, dealer, agent or consultant. The User acknowledges and agrees that in any transactions or other decisions or activities through which you use any OKX Services, OKX does not have a fiduciary relationship or fiduciary duty with you. No communication or information provided by OKX to you, notwithstanding whether included in these Terms or any other document or statement, shall be deemed, considered or interpreted as investment advice, business advice, legal advice, financial advice, tax advice, trading advice or any other type of advice. You shall determine whether any investment, investment strategy or related transaction is appropriate for you based on your personal investment objectives, financial condition and risk tolerance, and you shall be solely responsible for any and all Losses or liabilities. You should consult your own business, legal, financial or tax advisers regarding especially, inter alia, the individual chances, opportunities, risks, obligations or further costs arising from using this Service. OKX does not recommend you to buy, sell, transfer or hold any Digital Assets. Before making a decision to buy, sell, transfer or hold any Digital Assets, you shall conduct due diligence and consult your financial advisor before making any investment decision. OKX shall not be responsible for your decision to buy, sell, transfer or hold Digital Assets based on the information provided by OKX.

15. Third Party Website Disclaimer

Any links to third-party websites in OKX services do not mean that OKX endorses any products, services, information and disclaimers provided therein, and OKX does not guarantee the accuracy of the information contained therein. OKX shall not be liable for any losses caused by your use of such third party products and services. In addition, OKX has no control over the terms of use or privacy policies of third party websites. Once you use this Service, it usually means that you know, understand and agree to all the terms of service, Privacy Notice and relevant transaction and operation rules (as amended from time to time) on third party websites. OKX and each third party website operator are independent legal entities, and these Terms shall not constitute any form of agency, partnership or cooperative relationship between the parties. Each third party website operator shall be responsible for their respective claims, debts, and disputes arising from the performance of their respective contracts and agreements.

16. Governing Law

These Terms, your use of the Services, any claim, counterclaim or dispute of any kind or nature whatsoever arising out of these Terms, directly or indirectly, shall be governed by, and construed in accordance with the laws of England and Wales without regard to the principles of conflicts of laws thereof.

17. Jurisdiction and Dispute Resolution

17.1 You acknowledge and agree that in the event of any dispute, controversy, difference or claim, including the existence, validity, interpretation, performance, breach or termination of the Terms or any dispute arising out of or relating to the Terms (“Dispute”), the parties shall first refer the Dispute to proceedings at the Hong Kong International Arbitration Centre (“HKIAC”) in accordance with HKIAC’s Mediation Rules in force for the time.

17.2 If the Dispute has not been settled upon the signing of a settlement agreement within ninety (90) days following the filing of a request for mediation set forth in Clause 17.1, such Dispute shall be referred to and finally resolved by arbitration administered by the HKIAC) under the HKIAC Administered Arbitration Rules in force when the Notice of Arbitration is submitted. The law of this arbitration clause shall be the laws of the Hong Kong Special Administrative Region of People’s Republic of China (“Hong Kong”).

17.3 You agree that the seat of arbitration shall be Hong Kong. The number of arbitrators shall be three (3). OKX shall appoint one (1) arbitrator and you shall appoint one (1) arbitrator. The third arbitrator shall be appointed by the Chairman of the HKIAC. Such arbitrators shall be freely selected, and the parties shall not be limited in their selection to any prescribed list. The arbitration proceedings shall be conducted in English.

17.4 You agree that OKX shall not be required to give general discovery of documents, but may be required only to produce specific, identified documents which are relevant and material to the outcome of the Dispute.

17.5 Any arbitral award shall be final and binding upon the parties hereto and shall be enforceable in any competent court which has jurisdiction.

18. Miscellaneous

18.1 The contents of these Terms also include OKX’s various system specifications, other agreements or rules in connection with these Terms, and other relevant agreements and rules regarding the Service that OKX may issue from time to time. Once the aforementioned content is published, it shall become an integral part of these Terms, and you shall also abide by it. In the event of any conflict between the aforementioned content and these Terms, these Terms shall prevail.

18.2 OKX reserves the right to unilaterally modify these Terms (including the aforementioned contents) if necessary. Such modification may happen at any time without prior notice. If any changes are made, the revised contents may be posted on OKX’s website. Please regularly check the latest information posted therein to inform yourself of any changes. Your continued use of or access to the Service following the posting of any changes constitutes acceptance of those changes. If you do not accept the revised content, please stop using the Services.

18.3 You shall carefully read this Agreement, and any document referred to herein of these Terms that constitute the contents of these Terms. Unless otherwise instructed by OKX, any formal communication and document transfer between you and OKX shall be undertaken through our Support Center. You may also be able to contact OKX telephonically as a form of informal communication. Any formal communication between you and OKX should, unless otherwise agreed, be made in the English language. In the event of any discrepancy between the communication in English and that in a foreign language, the English version shall prevail. In the event of any discrepancy between any formal and/or informal communications and the Agreement, the Agreement shall prevail.

18.4 Jurisdictional Restrictions. Events Contracts are not available in all jurisdictions. OKX does not offer Events Contracts in jurisdictions where such products are prohibited, restricted, or where OKX does not hold the required regulatory authorisation. It is your sole responsibility to ensure that your use of the Services complies with all laws and regulations applicable in your jurisdiction.

18.5 Restricted Jurisdictions. The Services are currently not available to persons who are citizens, residents, or taxpayers of jurisdictions designated as restricted by OKX.

18.6 If any provisions of these Terms shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired in any way. However, if any provisions of these Terms shall be invalid, illegal or unenforceable under any such applicable law in any jurisdiction, it shall, as to such jurisdiction, be deemed modified to conform to the minimum requirements of such law, or if for any reason it is not deemed so modified, it shall be invalid, illegal or unenforceable only to the extent of such invalidity, illegality or limitation on enforceability without affecting the remaining provisions of these Terms, or the validity, legality or enforceability of such provision in any other jurisdiction.

18.7 No failure or delay by OKX in exercising any right, power or remedy it is entitled to under these Terms or by stipulation of law or regulation shall operate as a waiver thereof, nor shall any single or partial exercise thereof preclude any other or further exercise of such rights, power or remedies.

18.8 You shall not transfer, novate or assign these Terms, and the rights and obligations hereunder, in whole or in part, without the prior written consent of OKX. OKX has the right to transfer, novate or assign any rights or obligations under these Terms by serving written notice on you, which takes effect upon the delivery of such notice.

18.9 The headings of all these Terms are for reading convenience only and have no actual meaning and shall not be used as a basis for interpretation of the meaning of these Terms.

18.10 If there is a discrepancy between the English version of these Terms and the translation of other languages version, the English version of these Terms shall prevail.

18.11 OKX has the sole and final discretion to interpret these Terms.