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This Event Contracts Terms of Service (the “Terms”) applies to all Event Contracts (as defined below) traded on the Toobit platform (the “Platform”).

Any capitalized terms not otherwise defined herein shall have the meaning given in the Toobit Terms of Use (as amended from time to time, the “Terms of Use”). In the event of any inconsistency, these Terms shall prevail.

These Terms supplement and form part of the Terms of Use. By trading Event Contracts on the Platform, you acknowledge that you have read, understood, and accepted these Terms and the Terms of Use.

1. Definitions and Interpretation

Agreement: Collectively refers to the Terms of Use and these Terms.
Event Contract: A contract issued by Toobit, including Call Contracts and Put Contracts.
Call Contract: An Event Contract that pays a fixed Potential Payout Amount if the Index Price at Expiration is higher than the Strike Price.
Put Contract: An Event Contract that pays a fixed Potential Payout Amount if the Index Price at Expiration is lower than the Strike Price.
Expiration: The expiry time of the Event Contract, as determined by the Platform.
Strike Price: The Index Price at the commencement of the Event Contract, as determined by the Platform.
Potential Payout Amount: The fixed amount payable under the Event Contract if conditions are met.
Premium: The amount paid by the user to Toobit to open an Event Contract.
Settlement Value: The payout amount, if any, determined by the Platform upon Expiration by reference to the Strike Price and Index Price.
Index Price: The price of the Underlying determined by the Platform using its methodology, referencing the weighted average price across multiple exchanges.
Daily Cap: The maximum daily risk exposure permitted per user, as determined by the Platform.
Open Position Limit: The maximum number of Event Contracts a user may hold, as determined by the Platform.
USD Stablecoin: USDT or other USD-denominated stablecoins supported by the Platform from time to time.
UTC Day: A continuous 24-hour period commencing at 00:00 UTC and ending at 23:59:59 UTC.

2. Accessing Event Contracts

2.1 You may submit orders to open Event Contracts through the Platform. Toobit has no obligation to accept any order and does not guarantee execution.

2.2 When placing an order, you must select the Expiration time, which cannot be modified once confirmed. The Potential Payout Amount will be displayed before confirmation.

2.3 You must pay the Premium, which will be automatically deducted from your account. Orders will be rejected if your account balance is insufficient.

2.4 Submission of an order constitutes your agreement to pay the Premium and acknowledgment that you fully understand the associated risks.

2.5 You must not circumvent the Daily Cap or Open Position Limit set by the Platform. Orders exceeding these limits will be automatically rejected.

2.6 The Platform may impose a price limit (i.e., maximum Premium) per Event Contract. Orders above this limit will be rejected.

2.7 Toobit shall not be liable for any failure, delay, or error in execution caused by technical issues, network latency, or force majeure events.

2.8 Event Contracts are only available to eligible users. Users may not access or use Event Contracts from restricted jurisdictions. Any violation may result in suspension or termination of services and closure of relevant contracts.

3. Settlement

3.1 Event Contracts will be automatically settled upon Expiration.

3.2 Settlement Value is determined by the Platform in accordance with the following rules:

If Index Price = Strike Price → the Premium is refunded;
If Index Price > Strike Price (Call Contract) → the Potential Payout Amount is paid;
If Index Price < Strike Price (Put Contract) → the Potential Payout Amount is paid;
In all other cases → Settlement Value is zero.

3.3 Any Settlement Value due will be automatically credited to your account upon Expiration.

4. Fees

4.1 The Premium represents the full cost of entering into an Event Contract. The amount will be displayed before order confirmation.

4.2 The Platform may charge fees for other services (such as withdrawals or funding), as published by the Platform from time to time. Toobit reserves the right to adjust such fees.

5. Risk Disclosure and Consent

5.1 You acknowledge and agree that:

(a) Fixed Profit and Loss: Potential profits are fixed at the Potential Payout Amount, and maximum loss is limited to the Premium paid.
(b) Settlement Mechanism: Settlement is determined automatically by reference to the Index Price and Strike Price.
(c) Market Risk: Digital asset prices are highly volatile and may result in unfavorable outcomes.
(d) Investment Responsibility: You are solely responsible for your own decisions; Toobit does not provide investment advice.
(e) No Ownership Rights: Event Contracts do not confer ownership or rights on the underlying asset.
(f) Counterparty Risk: Toobit acts as issuer and counterparty. In the event of insolvency, you may be treated as an unsecured creditor.
(g) Regulatory Uncertainty: Event Contracts may not be permitted in certain jurisdictions. You are responsible for ensuring compliance with applicable laws.
(h) Operational Risk: System failures, errors, or disruptions may affect execution and settlement.

5.2 This risk disclosure does not constitute investment advice or a guarantee of risk limitation.

5.3 You should only trade with funds you can afford to lose.

5.4 You confirm that you possess the necessary knowledge, experience, and risk tolerance. If you cannot accept the risks, you must not trade Event Contracts.

6. Amendments

6.1 Toobit may list or delist Event Contracts, or discontinue related services, at any time without notice.

6.2 Toobit may amend these Terms (including parameters, limits, or calculation methods) at any time, effective upon publication on the Platform. Continued use of the Platform constitutes your acceptance. If you disagree, you must immediately cease trading.

7. Disputes, Governing Law, and Arbitration

Complaints, arbitration agreements, governing law, and class action waiver provisions under the Terms of Use shall apply to all disputes related to these Terms.

8. Prevailing Language

In the event of any inconsistency between translations of these Terms and the English version, the English version shall prevail.

9. Entire Agreement

These Terms constitute the entire agreement between the parties with respect to Event Contracts. No oral or written warranties, representations, or undertakings may be relied upon unless expressly set forth herein, except in the case of fraud.

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Toobit Terms of Service for Event Contracts

Toobit Terms of Service for Event Contracts

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