Welcome to XO, a decentralized prediction market platform powered by Conviction Markets technology. By accessing or using XO (the “Platform”), you acknowledge that you have read, understood, and agree to be bound by these Terms of Service (“Terms”), including any annexes hereto, which constitute an integral part hereof. If you do not agree with any part of these Terms, you must not use the Platform. These Terms form a binding agreement between you and the operators of XO (“we,” “us,” or “our”). XO reserves the right to update or modify these Terms at any time. We will provide notice of material changes (e.g., via the Platform or email), and continued use of the Platform after changes become effective constitutes acceptance of the updated Terms.
XO provides a globally accessible online platform for creating and trading in prediction markets on future events using cryptocurrency tokens. The Platform utilizes various trading mechanisms, including an automated market maker (the LS-LMSR model) and order book based trading, to facilitate trading, and market outcomes are resolved through resolution processes that may include automated AI-based systems and/or the MODRA (Moderated Oracle) framework, depending on the applicable market.
XO operates as a non-custodial interface to blockchain-based smart contracts: we do not hold or control users’ funds, and all trades and outcome resolutions occur via decentralized smart contracts that you interact with using your own crypto wallet. XO itself does not act as a counterparty to any trade. Markets may be created by users or made available by XO. Users trade at their own discretion. The Platform is provided for informational and educational purposes only, and nothing on XO constitutes financial or investment advice or an invitation to engage in any regulated or illegal activity. You acknowledge that XO is an experimental platform and that your use of the Service is at your own risk.
XO may from time to time offer promotional engagement programmes and may issue non-transferable digital collectibles, including soulbound tokens or “SBTs”, to recognise user engagement on the Platform. Any such programme is governed by these Terms and by any campaign-specific terms set out in an annex to, or otherwise incorporated by reference into, these Terms. The current Boarding Pass promotional campaign is governed by Annex B. No such programme is, or is intended to be, a lottery, sweepstakes, raffle, prize competition, game of chance, regulated promotion, regulated gambling activity, securities offering, derivatives offering, collective investment scheme or any other regulated financial activity; and any rewards, attributes or benefits associated with such programme have no monetary value, are not redeemable for fiat or cryptocurrency, and are not transferable.
To use XO’s features (such as creating markets or trading), you may need to register an account or connect a crypto wallet. XO simplifies this process by using a third-party service, Privy, which provides social login and an embedded wallet solution. This allows you to sign up or log in using an existing identity provider (for example, your email or social account) and simultaneously generate a crypto wallet linked to your account. By registering via Privy, you agree to Privy’s terms and acknowledge that your wallet is provided in a secure, self-custodial manner. You are responsible for maintaining the confidentiality of your login credentials (such as your email/password or social login details) and your wallet’s private key and recovery seed and for all activities that occur under your XO account or wallet.
Some features of the Platform are provided by third parties. When using such features, you will interact with that third party's interface and will be subject to their terms of service and privacy policy. XO is not responsible for the acts or omissions of any third party in connection with such features.
The crypto wallet provided during registration (or any wallet you connect) is self-custodial, meaning you – and only you – have control of the private keys to your assets. XO never receives or stores your private keys, and we cannot access, recover, or reset your wallet if you lose your credentials. Treat your login and wallet recovery details with the same care you would your private keys. You acknowledge that any crypto assets used on the Platform remain in your custody via your wallet (or in smart contracts that you control through your wallet) at all times; XO does not take custody of user funds. We will also never ask you to transfer assets to us or share your private keys. If you lose access to your wallet (for example, by losing your password or other authentication factors), XO cannot assist in recovering your assets – loss of access may result in the permanent loss of any funds in the wallet.
You must use a strong, unique password for any account and enable any recommended security features. Notify us immediately if you suspect any unauthorized use of your account or any security breach. XO is not liable for any loss or damage arising from your failure to secure your account or wallet. You agree not to share or sell your account to anyone, and not to use another user’s account. We may require you to undergo additional verification or security steps at our discretion to ensure the integrity of the Platform (though we will not ask for invasive personal information; see Privacy Policy).
One Account Rule: Each user is generally allowed to register and use only one account, unless explicitly permitted by us in writing. Creating multiple accounts to circumvent limits, abuse promotions, or manipulate markets is prohibited.
By using XO, you agree to abide by the following rules and not engage in any prohibited activities:
XO reserves the right to investigate and enforce violations of the above rules to the fullest extent allowed by law. This can include removing or suspending markets, trades, or accounts, and cooperating with law enforcement authorities where appropriate.
Users can create prediction markets on XO by defining a clear event outcome and resolution criteria. When creating a market, you must provide accurate and unambiguous details about the question, the possible outcomes (e.g., Yes/No or multiple choice), the timeline (e.g., closing date for trading and resolution date), and the data source or method that will be used to determine the outcome. You should not create markets on events that are impossible to verify or that lack objective resolution data. XO (through its moderators or automated systems) may review new markets and has the right to refuse or de-list any market that does not meet our guidelines or that violates these Terms.
Once a market is listed, users can trade by buying or selling outcome tokens. XO primarily facilitates trading through an automated market maker (“AMM”) model (LS-LMSR), where users trade against a pricing algorithm and transactions are executed immediately at the prevailing market price. However, certain markets on the Platform may use an alternative order book based trading mechanism, where users place buy and sell orders at specified prices and trades occur when matching orders from other users are available.
For markets that utilize the AMM model, prices are determined by the automated market maker algorithm (LS-LMSR) based on supply and demand. Note that because XO uses an algorithmic market maker, the pricing and liquidity will fluctuate as users trade; there may be times of low liquidity or significant price slippage for large trades. Such trades are executed on a peer-to-pool basis via smart contracts, and you must have sufficient crypto funds in your wallet to cover purchases or to provide liquidity if required. Finality of AMM trades: Since AMM trades execute immediately on-chain against the LS-LMSR pricing algorithm, no orders rest in the system and there is nothing to cancel before execution. Once an AMM trade has been confirmed on the blockchain it cannot be reversed, except by closing the position or selling back into the market at the price then prevailing. You should carefully review trade details before confirming any transaction. You are also responsible for paying any network (gas) fees associated with your transactions on the blockchain. XO is not responsible for any losses due to transaction errors (such as sending funds to the wrong address or trading the wrong amount).
For markets that utilise an order book trading mechanism, users may place buy or sell orders at specified prices, which are matched with orders placed by other users. Such orders may be executed immediately, partially executed, or remain open until matched or cancelled, and any unfilled portion of a partially executed order may remain open until matched or cancelled. Execution depends on the availability of matching orders from other participants at the specified price and is therefore not guaranteed.
You maintain a single wallet balance across all markets and trading mechanisms on the Platform. As a result, placing orders in one market or executing trading (including through AMM or other trading mechanisms) may affect the funds available to support open orders elsewhere. If your available balance becomes insufficient to cover your open orders, those orders may be cancelled or adjusted to ensure they remain fully backed by available funds.
Cancellation of order book orders. Resting orders on the order book may be cancelled by you at any time before they are matched, subject to the cancellation transaction being accepted by the smart contract; partially filled orders may be cancelled as to the unfilled portion only. Once an order has been matched, the resulting trade is final and cannot be reversed other than by entering an offsetting trade on the order book or, where available, via the AMM.
Each market will be resolved at or after the specified outcome determination time. XO uses the MODRA (Moderated Oracle) system – a hybrid dispute resolution mechanism combining AI analysis (including AI agents) and human jurors – to determine the correct outcome of markets. The specific resolution method applicable to a given market may vary and will be indicated in the market’s rules or interface.
In general, when a market’s outcome becomes known, the MODRA system will utilize automated AI systems (which may include AI agents) to gather relevant data (e.g., from trusted news sources or oracles) and propose an outcome (e.g., Yes, No, a specific value, or in some cases “Invalid” if the question resolved ambiguously or unfairly). Depending on the market, such AI-based determinations may be used to resolve the market directly, or may form part of a broader resolution process that includes human jurors (selected from a pool of community members or an appointed arbitration panel) who review the evidence and vote on the correct outcome.
Where multiple data sources exist or conflict, the resolution process will prioritize the primary or designated data source specified for the market, where applicable. By participating in a market, you agree to the resolution method specified for that market, including where outcomes are determined solely by AI systems. If the outcome is clear and uncontested, the market will be settled according to that outcome automatically by the smart contract.
By participating in XO markets, you agree that the outcome determined in accordance with the resolution method specified for the applicable market (including through AI-based determination, or, where applicable, human adjudication as part of the MODRA system) is final and binding. Once the applicable resolution process has finalized an outcome, the smart contracts will release funds accordingly: winning outcome tokens can be redeemed for the designated payout, and losing outcome tokens will have no value. You will have no further claim to funds once distributed.
If you disagree with an outcome, your recourse is limited to the resolution process specified for that market. Where a market utilizes AI-based resolution, you acknowledge and agree that such determinations may be made solely by automated systems and may be final without further review. You waive any right to pursue external legal action against XO or its operators to contest a market outcome – the resolution of markets is handled solely through the decentralized protocol.
In rare cases, XO (or the MODRA administrators) may designate a market as “Invalid” (meaning no clear outcome or a violation in the market’s conditions) in which case all participants’ stakes may be returned as if the market never occurred; such intervention will be used sparingly and only to preserve fairness or comply with legal requirements.
XO does not guarantee that the resolution process will be error-free, and XO is not liable for any incorrect resolution, delays in resolving a market, or disputes between users about outcomes. While we strive for accurate and timely market resolutions, the outcome determination relies on automated systems and/or third-party information sources, which may occasionally yield contentious results. By using XO, you accept the risk that a market could be resolved in a manner you perceive as incorrect or unfavorable. We encourage users to carefully read market descriptions, rules, and any discussions to understand how an outcome will be decided, and to only participate if you accept the outcome process.
XO Market reserves the right, in its sole discretion, to void (invalidate) any market at any time, including but not limited to circumstances where a market is determined post-approval to:
In the event a market is voided, the market will be immediately removed from the Platform and all unresolved positions will be settled on a 50/50 basis between participants, regardless of position taken. Users will have no further claim or recourse regarding the voided market.
Using the XO Platform may incur certain fees. XO may charge a fee on trades, matched orders, or on liquidity provisioning within markets, and/or a fee upon settlement of markets (e.g., a percentage of winnings or a fixed fee), as a means to sustain the platform and its resolution system. The specific fee rates and structures (such as a trading fee on each buy/sell or a settlement fee on payouts) will be clearly disclosed on the Platform (for example, on the trade execution interface or in a fee schedule page). By executing any trade or transaction on XO, you agree to pay all applicable fees, which will typically be automatically deducted by the smart contracts from your transaction proceeds or balances.
XO reserves the right to introduce new fees or adjust the fee rates from time to time. We will notify users of significant fee changes by updating the fee information on the Platform or through other communication. Fee changes will not apply retroactively to transactions already executed, but will apply to any future trades or markets after the effective date of the change. If you do not agree with a fee change, your remedy is to stop using the Platform before the new fees apply.
In addition to XO’s own fees, you understand that using the Platform involves blockchain network transaction costs (often called “gas” fees on Ethereum or other chains). These fees are not charged by XO and we have no control over their pricing - they are determined by the network’s demand. You are solely responsible for paying any such network fees when interacting with XO’s smart contracts (for example, when placing a trade, creating a market, or withdrawing funds). XO will attempt to inform you of the estimated network fee before you confirm a transaction, but it can change rapidly and the actual fee may differ. We are not liable for any differences in estimated vs actual gas costs or any inability to execute transactions due to insufficient gas.
Because XO does not hold your funds in an account, there are no account maintenance or custodial fees. Your assets remain in your own wallet or are locked in the market smart contracts. When markets resolve, payouts are available to claim directly to your wallet. It is your responsibility to claim any winnings or refunds from the smart contracts; unclaimed payouts will remain available on the contract for as long as the underlying blockchain network remains operational, XO does not guarantee that its interface will always be available to facilitate claims indefinitely (unless otherwise specified by a market’s rules). XO does not charge inactivity fees or anything of that nature.
XO does not withhold or calculate any taxes for you. You are responsible for determining, reporting, and paying any taxes applicable to your use of the Platform, such as gains from successful predictions or losses. If you are unsure about your tax obligations, you should consult a tax advisor. We may provide you with a transaction history, but it is up to you to use that for tax calculations. If we are ever required by law to collect tax information from you or to report your activities to tax authorities, you agree to comply and provide necessary information (subject to our Privacy Policy).
The XO website, brand, and any associated software (excluding the open-source smart contracts or content provided by users) are protected by intellectual property laws. We (or our licensors) own all rights, title, and interest in and to the Platform’s code (to the extent it is proprietary), design, logos, trademarks, and content we have created. You may not copy, modify, distribute, sell, or lease any part of our proprietary content or software, nor may you reverse engineer or attempt to extract the source code of any proprietary software, except as permitted by law or with our written permission.
Any artwork, design, character, image, animation or other visual element associated with an NFT or SBT issued by XO (including, without limitation, the XO Boarding Pass artwork and any character likenesses such as “Deek”) is owned by XO or its licensors. Holding an NFT or SBT grants you a limited, personal, non-exclusive, non-transferable and revocable licence to display the associated artwork in your own wallet or on third-party services that render NFT metadata. No commercial use, derivative work, merchandising, modification or other licence is granted, and any such use without XO’s prior written consent is prohibited.
The markets (questions, descriptions, comments) and other content that users create on the Platform (“User Content”) remain the property of the users who create them. However, by posting or creating content on XO, you grant us a worldwide, royalty-free, sublicensable license to use, copy, modify, display, and distribute that content as needed to operate the Platform (for example, to display it to other users, or include it in promotional materials). This license ends when you remove the content from our Platform, except that we may retain archival copies as required by law or internal record-keeping. If you provide us with suggestions or feedback about XO, you agree that we may use and implement those ideas without any compensation or obligation to you.
The Platform might display third-party content (for example, data feeds, news headlines, or user-generated market descriptions) or links to third-party websites. We do not endorse or assume responsibility for any third-party content or external sites. If you access third-party websites or services through our Platform, you do so at your own risk, and you should read their terms and policies. XO is not liable for content or practices of any third parties.
The XO Platform is provided on an “as is” and “as available” basis. To the maximum extent permitted by law, XO disclaims all warranties of any kind, whether express, implied, or statutory, including but not limited to any warranties of accuracy, reliability, availability, title, merchantability, fitness for a particular purpose, or non-infringement. We do not guarantee that the Platform will be uninterrupted, error-free, or free from hacking or security breaches. Use of XO and any content obtained through the Platform is at your own discretion and risk.
All information, content, and services provided by XO are for informational and educational purposes only. Prediction markets on XO reflect the aggregated opinions of users and not any statement of fact by XO. We do not guarantee that any probabilities, odds, or market prices on the Platform will accurately predict real-world outcomes. Past performance or odds in a market are not indicative of future results. Additionally, no content on XO constitutes professional advice (financial, investment, legal, or otherwise). You should not make financial decisions based solely on information from XO. If you need advice, you should consult a qualified professional.
XO does not owe you any fiduciary duties. The fact that you are able to trade on our Platform does not make us your broker, advisor, or agent. We do not advise on the merits of any particular trade or market, and we do not monitor your trades for suitability. You are solely responsible for evaluating your own risk tolerance and making your own decisions.
XO uses resolution processes (including automated AI-based systems, and where applicable, the MODRA system) to determine market outcomes, however, we do not warrant that this process is infallible. There may be situations where the data used by the resolution process is incomplete, erroneous, or delayed, or where human jurors make decisions you disagree with. XO disclaims any responsibility for incorrect or disputed outcomes – by using the Platform, you accept that the outcome resolution mechanism is the final arbiter for markets, even if it may occasionally produce an unexpected result. We also do not guarantee that markets will resolve on time; technical issues or prolonged disputes could delay resolution and payouts.
Trading on a blockchain-based platform comes with inherent risks. XO disclaims any responsibility for:
By using XO, you acknowledge and assume all risks associated with participating in prediction markets and using a decentralized platform. These risks include, but are not limited to: the volatility of cryptocurrency markets and prediction market prices, the possibility of losing some or all of your staked tokens, the risk of erroneous outcomes or disputes, and the regulatory uncertainty around such activities, as well as risks associated with order book trading, including delay or no execution of orders, partial execution, cancellation or adjustment of open orders due to changes in available balance or market conditions. The risk of loss in trading on XO can be substantial and markets are highly speculative and volatile. You should never trade with funds you cannot afford to lose. There is also the risk that you may be subject to unfavorable exchange rate fluctuations between tokens used on XO and your local currency, or that accessing your funds could become difficult (for instance, if you lose your private keys or if certain blockchain networks are restricted in your region). By proceeding with using XO, you confirm that you understand these risks and are willing to bear them.
To the fullest extent permitted by applicable law, in no event shall XO or its developers, founders, affiliates, employees, agents, or partners be liable for: any indirect, incidental, special, consequential, or exemplary damages; or for any loss of profits, revenues, data, goodwill, or other intangible losses, arising out of or relating to your access to or use of (or inability to use) the Platform, even if we have been advised of the possibility of such damages. This limitation of liability applies to all causes of action, whether based in contract, tort, strict liability, or any other legal theory.
In jurisdictions that do not allow the exclusion or limitation of certain damages, our liability will be limited to the maximum extent permitted by law. In particular, if you are a consumer in a jurisdiction that grants you certain rights, some of the above limitations may not apply to you to the extent prohibited by law. However, in such cases, our liability will be limited to the smallest amount permitted by applicable law.
Cap on Liability: To the extent permissible by law, the total cumulative liability of XO and its affiliates for any claims arising out of or relating to the service is limited to the greater of: (a) the total fees actually received by XO from you in the six (6) months immediately preceding the event giving rise to the claim (if any), or (b) USD $100. If the laws of your jurisdiction do not allow such a cap on liability, the minimum cap allowed will apply.
You specifically agree that any disputes you have with or any harm you claim to suffer arising from or related to the Platform must be brought against XO only in an individual capacity, and not as a plaintiff or class member in any purported class or representative proceeding. Class action lawsuits, class-wide arbitrations, private attorney-general actions, and any other proceeding where someone acts in a representative capacity are not permitted.
You agree to indemnify, defend, and hold harmless XO, its parent, affiliates, and their respective officers, directors, employees, and agents (collectively, the “XO Parties”) from and against any and all claims, liabilities, damages, losses, and expenses (including reasonable attorneys’ fees) that arise from or relate to: (a) your use or misuse of the Platform; (b) your violation of these Terms or any applicable law or regulation; (c) your infringement or misappropriation of any third-party rights (including intellectual property or privacy rights) in connection with your use of XO; or (d) any content you create or actions you take on the Platform (including the creation of markets or disputes) that cause harm to a third party. We reserve the right to assume the exclusive defense and control of any matter otherwise subject to indemnification by you (at your expense), and you agree to cooperate with our defense of such claim. You shall not settle any such claim in a manner that imposes any obligation or liability on the XO Parties without our prior written consent.
We may suspend, restrict, or terminate your access to the Platform (including disabling your ability to create or trade markets) at any time, with or without cause, and with or without prior notice, under the following circumstances:
Where possible, we will notify you of the suspension or termination and, if appropriate, provide you an opportunity to appeal or remedy the issue (except where we are legally prohibited from doing so or if immediate action is required to protect the Platform or users). Note that due to the non-custodial nature of XO, even if your account access is terminated, you will typically retain access to your crypto assets via your own wallet; however, you may lose access to certain features of the interface or ongoing markets. In cases of serious violation, we may, in conjunction with community governance if applicable, freeze or invalidate certain market outcomes or take other on-chain remedial actions to mitigate damage (for example, pausing a market that is clearly being manipulated or is found illegal).
You may stop using XO at any time. You can disconnect your wallet and cease visiting the site. If you wish to delete or deactivate any account credentials (for example, if using a Privy login), you may follow the procedures in the account settings or contact us for assistance. Keep in mind that because XO does not store personal data, there may not be much to “delete” on our side, but we can help disassociate your email or login if needed. Any provisions of these Terms that by their nature should survive termination (such as ownership provisions, warranty disclaimers, indemnities, and limitations of liability) will survive the termination of your access or use of the Platform.
XO shall not be liable to you or any third party for any termination or suspension of your access to the Platform under these Terms. Upon termination, you remain responsible for any obligations incurred before the termination (such as paying any fees owed) and any liabilities that may have arisen from your use of the Platform.
These Terms and any dispute or claim (including non-contractual disputes or claims) arising out of or in connection with these Terms or your use of the Platform shall be governed by and construed in accordance with the laws of Switzerland, without regard to its conflict of law principles. The choice of governing law is made recognizing that XO’s operations are global and decentralized; however, we select Swiss law to provide certainty in interpreting these Terms. If you reside in a jurisdiction that mandates the application of that jurisdiction’s consumer protection or data protection laws notwithstanding this choice of law, then those laws may apply to the extent required by law.
You and XO agree that any dispute, claim, or controversy arising out of or relating to these Terms or the use of the Platform (collectively, “Disputes”) shall be resolved through final and binding arbitration, except as noted under “Exceptions to Arbitration” below. This agreement to arbitrate is intended to be broadly interpreted. By agreeing to these Terms, you are waiving your right to a trial by jury and your right to participate in a class action for all Disputes, to the fullest extent permitted by law.
If a court of competent jurisdiction finds the arbitration agreement unenforceable or if you timely opt out of arbitration, you agree that any litigation arising out of or relating to these Terms or the Platform shall be brought exclusively in the courts of Zug, Switzerland. You and XO consent to the personal jurisdiction of such courts.
To the extent permitted by law, any claim or cause of action arising out of or related to your use of the Platform or these Terms must be filed within one (1) year after such claim or cause of action arose; otherwise, it is permanently barred. (This does not apply to users in jurisdictions that prohibit such time limit agreements.)
These Terms (along with the Privacy Policy and any other policies or guidelines, product or market specific terms or rules incorporated by reference) constitute the entire agreement between you and XO regarding the Platform and supersede any prior agreements or understandings, whether written or oral, relating to your use of XO.
If any provision of these Terms is held to be invalid, illegal, or unenforceable by an arbitrator or court of competent jurisdiction, that provision shall be enforced to the maximum extent permissible, and the remaining provisions of these Terms will remain in full force and effect. The invalid provision shall be deemed modified to the least degree necessary to remedy the invalidity while retaining as much of the original intent as possible.
Our failure or delay in exercising any right, power, or privilege under these Terms shall not operate as a waiver thereof. A waiver of any default is not a waiver of any subsequent default. Any waiver must be explicit and in writing to be effective.
XO shall not be liable for any delays or failure in performance resulting from events or circumstances beyond our reasonable control, including acts of God, war, terrorism, natural disasters, pandemic, power or internet outages, labor disputes, or governmental actions.
You and XO are independent contractors. These Terms do not create any partnership, joint venture, agency, franchise, or employment relationship between the parties. You have no authority to make or accept any offers or representations on behalf of XO.
You may not assign or transfer any of your rights or obligations under these Terms without our prior written consent. XO may assign or transfer these Terms (including all of our rights and obligations) to an affiliate or in connection with a merger, acquisition, reorganization, or sale of all or substantially all assets, or by operation of law or otherwise. These Terms shall bind and inure to the benefit of the parties, their successors, and permitted assigns.
XO may provide notices or communications to you through the Platform (e.g., via a banner or pop-up), via email (if you have provided one), or through other reasonable means. You are responsible for keeping your contact information (such as email) current. Official notices to us should be sent via email to [email protected]. Electronic notices shall be deemed given 24 hours after the email is sent, and notices via the Platform are deemed given upon posting.
If you have any questions, concerns, or feedback about these Terms or the XO Platform, you can contact us at:
Thank you for reading our Terms of Service. By using XO, you are agreeing to these terms and helping us foster a fair and innovative prediction market community. Please trade responsibly, respect the rules, and enjoy the platform.
These Boarding Pass Terms (the “BP Terms”) apply to the XO Boarding Pass promotional non-transferable digital collectible campaign (the “Campaign”) and supplement, and form an integral part of, these General Terms and Annex A. By taking any action to participate in the Campaign, including by satisfying any eligibility criterion described below or by submitting a claim transaction, you acknowledge that you have read, understood and agree to be bound by these BP Terms and the General Terms. In the event of any conflict between these BP Terms and the Terms or Annex A in relation to the Campaign, these BP Terms prevail.
The Campaign is a discretionary promotional engagement programme operated by XO. Its sole purpose is to recognise certain users’ engagement with the Platform by issuing to them a non-transferable digital collectible (the “Boarding Pass”). For the avoidance of doubt, the Campaign is not, and is not intended to be, a lottery, sweepstakes, raffle, prize draw, prize competition, game of chance, gambling activity, regulated promotion, securities offering, derivatives offering, collective investment scheme or any other regulated financial or promotional activity. The Boarding Pass, the Conviction Points allocated in connection with it, and the Parlays whitelist access associated with it are issued solely as a record of platform engagement and have no monetary value (see clause 7 below).
You may become eligible to be issued a Boarding Pass if, in the course of your ordinary use of the Platform during the Campaign period, you have: (a) registered for and continue to hold a valid XO account in good standing; (b) connected a self-custodial wallet to your XO account; (c) connected a third-party social account (X, formerly Twitter) to your XO profile and completed the in-platform engagement steps designated by XO for confirming that you (i) follow @xomarket on X and (ii) have reposted the post designated by XO as the qualifying post; and (d) executed at least USD 10 in cumulative trading volume on the Platform.
You acknowledge and agree that (i) the in-platform engagement steps referred to in clause 3(c) are not independently verified by XO, that by completing those steps in the Platform interface you confirm that you have actually followed @xomarket on X and reposted the post designated by XO, and that such confirmation is binding and material; (ii) any trading executed for the purposes of clause 3(d) is ordinary use of the Platform and is not, and shall not be construed as, a fee, charge, payment, consideration or other quid pro quo for the issuance of any Boarding Pass or for the right to participate in the Campaign; (iii) you may seek to close, sell, or otherwise dispose of any position established for the purposes of clause 3(d) at the price then prevailing on the Platform, subject to market conditions, available liquidity, and the normal operation of the Platform, and you accept that such closure or disposal is not guaranteed; and (iv) satisfaction of the eligibility criteria does not, of itself, entitle you to the issuance of a Boarding Pass, and XO retains discretion to refuse any claim.
If, in XO’s determination, you have satisfied the eligibility criteria, you may submit a single claim transaction from your wallet. Upon successful execution of that transaction, the variant of Boarding Pass to be issued to you is assigned by XO’s backend on a randomised basis subject to the allocation parameters set out in clause 5, and the self-executing smart contract deployed on a public blockchain thereafter mint and transfer the assigned Boarding Pass to your wallet. The Boarding Pass is issued in one of four variants designated as “Economy”, “Business”, “First Class” and “Private”. You acknowledge that (i) you have no right, expectation or entitlement to receive any particular variant; (ii) you may receive a lower variant than another user, or no variant at all; and (iii) the variant assigned is final and not subject to any challenge, appeal, exchange or reassignment.
One (1) Boarding Pass across the entire Campaign is hard-allocated to the Private variant and is assigned by XO outside the randomized allocation described in clause 4. All other Boarding Passes are randomly assigned among the remaining three variants according to the following expected distribution: Economy approximately 75%, Business approximately 20%, and First Class approximately 5%. These parameters describe the allocation methodology only and do not give rise to any right, entitlement or expectation in any user. XO may modify these parameters at any time in its sole discretion.
Each Boarding Pass carries the following attributes: (a) an allocation of Conviction Points (“CP”), being internal, non-transferable, non-redeemable platform engagement points, in the amount associated with the variant assigned to the Boarding Pass, namely: Economy = 1,000 CP, Business = 2,000 CP, First Class = 4,000 CP, Private = 10,000 CP; and (b) inclusion on the whitelist for XO’s Parlays product (the “Parlays Whitelist”), being a non-binding indication that XO may, at its sole discretion and on terms to be communicated by XO, make Parlays product features available to Boarding Pass holders. Inclusion on the Parlays Whitelist confers eligibility to access the Parlays feature only if and when XO makes it available; it does not constitute, and shall not be construed as, an entitlement to free, discounted or subsidized participation in any Parlays market, and you remain responsible for all trading fees, gas fees and other costs of participation on the same basis as all other Parlays Whitelist holders. CP and Parlays Whitelist access are attributes of the Boarding Pass and are not separate rewards, prizes or entitlements.
You acknowledge, agree and represent that: (a) the Boarding Pass, CP, and Parlays Whitelist access (together, the “Campaign Attributes”) (i) have no monetary value; (ii) are not redeemable for fiat currency, cryptocurrency, any other digital asset, goods or services; (iii) are not transferable, assignable, saleable, or capable of being used as collateral; (iv) do not constitute, and shall not be deemed to constitute, equity, debt, a security, a derivative, a unit of a collective investment scheme, an investment contract, a deposit, e-money, a stablecoin or any other regulated financial instrument or product; (v) do not represent any equity, debt, governance, voting, profit-share, dividend, distribution, revenue-share or other economic interest in XO or any of its affiliates; and (vi) do not give rise to any claim on XO’s assets, revenues or operations; (b) you have no expectation of profit derived from XO’s efforts or from the efforts of any third party in respect of the Campaign Attributes; (c) any third-party representation that any Campaign Attribute has monetary value, an investment character or an investment return is not made by, endorsed by, or attributable to XO; and (d) XO makes no representation as to, and accepts no responsibility for, any secondary-market value, perceived value or social-media-implied value of any Campaign Attribute.
The Campaign is not open to, and a Boarding Pass may not be claimed or held by, any person who is located in, ordinarily resident in, or a citizen of any jurisdiction where the Campaign would be unlawful or would constitute a lottery, sweepstakes, raffle, prize draw, prize competition, game of chance, loot box, regulated promotion, regulated gambling activity, regulated financial promotion, securities offering, derivatives offering or any other activity requiring a licence, registration, authorisation, notification or self-certification under applicable law. This includes, without limitation, any jurisdiction listed as a Restricted Region in Section 3 of the General Terms and any further jurisdictions XO designates as restricted for the Campaign from time to time in its sole discretion and with or without notice.
By participating in the Campaign, you represent and warrant on a continuing basis that you are not located in, ordinarily resident in, or a citizen of any such jurisdiction, that you are not participating on behalf of any person who is, and that you have not used and are not using any VPN, proxy, IP-anonymising tool or similar means to disguise your location, residency or citizenship. If at any time you become located in, ordinarily resident in, or a citizen of any such jurisdiction, you shall immediately cease participation and shall not seek to assert any right in respect of any Boarding Pass or other Campaign Attribute previously issued to you.
XO reserves the right, at any time, in its sole discretion and with or without notice, to: (i) modify, supplement, replace or terminate these BP Terms; (ii) modify any eligibility criterion, the variant structure, the allocation parameters, the attribute amounts or any other feature of the Campaign; (iii) extend, shorten, suspend or terminate the Campaign in whole or in part; (iv) refuse to issue, or refuse to recognise the issuance of, any Boarding Pass to any person; (v) revoke any previously issued Boarding Pass, including the Private variant, and to burn, blacklist, freeze, render non-functional, or otherwise rescind any Boarding Pass and the associated CP and Parlays Whitelist access; and (vi) take any other action XO considers necessary or desirable to administer the Campaign or to comply with applicable law.
Without limiting the foregoing, XO may exercise its rights under this clause 9 where it has, on reasonable grounds, formed the view that a user has: (a) breached any provision of these BP Terms or the General Terms; (b) made any false, misleading or incomplete representation, including in respect of clause 3 or clause 8; (c) used multiple accounts, wallets, devices, identities, automated tools, bots or other Sybil techniques to participate in the Campaign or to claim more than one Boarding Pass; (d) used any virtual private network, proxy or other location-masking tool; (e) accessed the Campaign from, or been located in, a Prohibited Jurisdiction; or (f) engaged in any conduct contrary to the spirit, purpose or integrity of the Campaign.
You shall indemnify, defend and hold harmless XO, its affiliates and their respective officers, directors, employees and agents from and against any and all claims, liabilities, fines, penalties, damages, losses, costs and expenses (including reasonable legal fees) arising from or relating to: (i) any breach by you of these BP Terms; (ii) any false, misleading or incomplete representation by you, including in respect of clause 3 or clause 8; and (iii) any action, investigation or enforcement step taken by any governmental, regulatory or law enforcement authority in any Prohibited Jurisdiction in respect of your participation in the Campaign.
The Campaign is offered on an “as is” and “as available” basis. XO disclaims all warranties of any kind in connection with the Campaign and the Campaign Attributes, whether express, implied or statutory, including any warranty of merchantability, fitness for a particular purpose, accuracy, reliability, availability, title or non-infringement. You acknowledge and accept that participation in the Campaign involves risk, including: (i) the risk that you will not be issued a Boarding Pass; (ii) the risk that you will be issued a lower-variant Boarding Pass than another participant; (iii) the risk that the Boarding Pass, the associated CP, or the Parlays Whitelist access will be revoked or rendered non-functional; (iv) the risk that the Campaign will be modified, suspended or terminated; (v) the risk of loss of access to your wallet and consequent loss of the Boarding Pass (which, as a soulbound token, cannot be recovered or re-issued); (vi) the risk that you are or become located in a Prohibited Jurisdiction; and (vii) all of the risks set out in Section 9 (Disclaimers of Warranties) and Section 10 (Assumption of Risk) of the General Terms, which are incorporated by reference.
The limitations of liability set out in Section 11 (Limitation of Liability) of the General Terms apply in full to any claim arising from or relating to the Campaign, the Boarding Pass, the CP, the Parlays Whitelist access or any other Campaign Attribute. Without prejudice to the foregoing, XO’s total aggregate liability to you for any and all claims arising from or relating to the Campaign shall not exceed the lesser of (a) the total trading fees actually paid by you to XO in respect of the qualifying trade(s) under clause 3(d) and (b) USD 50.
These BP Terms are governed by, and any dispute, claim or controversy arising from or relating to these BP Terms or the Campaign shall be resolved in accordance with, Section 14 (Governing Law and Dispute Resolution) of the General Terms, including the arbitration agreement, the class-action waiver and the one-year time bar set out therein.
You are solely responsible for determining and meeting any tax obligations that may arise in connection with the Campaign, the Boarding Pass, the associated CP, the Parlays Whitelist access or any other Campaign Attribute. XO does not withhold tax, does not provide any form of tax reporting irrespective of the jurisdiction and does not give tax advice.
To operate the Campaign, XO collects, processes and records information about your wallet, your X account connection, your trading activity, your claim transaction and the variant assigned to your Boarding Pass, and may record analytics events relating to your claim (including a “tier_id” and “cp_awarded” event). XO’s collection and processing of this information is governed by the XO Privacy Policy.
If any provision of these BP Terms is held to be unlawful, void or unenforceable by an arbitrator or court of competent jurisdiction in any jurisdiction, that provision shall be severed in that jurisdiction only, and the remainder of these BP Terms shall remain in full force and effect in that jurisdiction and in all other jurisdictions. If such severance would have the effect of making the Campaign unlawful in a particular jurisdiction, the Campaign shall be deemed not to have been offered in that jurisdiction. Clauses 7 (No Monetary Value), 8 (Restricted Jurisdictions), 9 (Sole Discretion), 10 (Indemnity), 11 (Disclaimer of Warranties), 12 (Limitation of Liability), 13 (Governing Law), 14 (Taxes) and 16 (Severability and Survival) shall survive any termination of the Campaign or these BP Terms.
These terms govern your access to and use of the Parlays feature on the XO platform (“Parlays”). They form part of, and should be read together with, the XO Terms of Service (the “General Terms”). By accessing or using Parlays, you agree to these terms, and your continued use constitutes ongoing acceptance. XO may update these terms at any time and continued use after any update constitutes acceptance of the revised terms. In the event of any inconsistency between these terms and the General Terms, these terms will prevail in respect of Parlays.
Parlays allow you to submit a single entry made up of predictions across multiple events (for example, the outcomes of several football matches grouped together in one round). Each Parlay is defined by XO and will specify the events included, the available prediction options, the submission deadline, the Conviction Points required for entry, and the reward structure. Parlays are standalone experiences and are not directly connected to the decentralized prediction markets on the Platform.
Conviction Points (“CP”) are earned through activity on the Platform, including participation in prediction markets. CP are used to enter Parlays. When you submit a Parlay entry, the applicable CP amount is deducted from your balance. This deduction is final. XO may determine, at its sole discretion, whether any CP is refunded or credited, including where a Parlay is voided. If a submission fails, no CP will be deducted. Conviction Points are not legal tender and do not represent any monetary value. They cannot be redeemed for cash and are used solely within the Platform, including for participation in Parlays. XO may modify, restrict, or revoke CP at any time.
To submit a Parlay, you must complete all required predictions and confirm your entry before the submission deadline (typically before the first event begins). Submissions made after the deadline will not be accepted. If a submission fails for any reason, the entry will not be recorded and will not be considered a valid participation in the Parlay. XO is not responsible for failed submissions caused by technical or system issues. Users are responsible for ensuring successful submission before the deadline.
Each Parlay sets the number of entries a user may submit. Where multiple entries are permitted, each entry is treated as a separate submission and must be completed in full. The CP cost of entering a Parlay may differ with each additional entry. For example, the first entry may require fewer CP than subsequent entries. The applicable entry limits and pricing are displayed for each Parlay. Once submitted, an entry is binding and final. Entries cannot be edited, cancelled, or withdrawn.
Parlays are resolved after all underlying events have concluded. XO may rely on third-party data sources to determine the outcomes of events and apply those outcomes to calculate results, and XO may delay the resolution as needed for any reason, including any inaccurate or controversial data, in its sole discretion.
The winning criteria for each Parlay require that all predictions in an entry are correct. Only entries with all predictions correct will be considered winning entries. XO’s determination of outcomes and results is final and binding. XO will not amend results after finalization except in cases of clear and material error, as determined by XO.
Each Parlay may include a reward pool. The reward currency, denomination and amount will be displayed in advance for the relevant Parlay. Unless otherwise specified for a Parlay, rewards are denominated in USDC. Unless otherwise specified, the reward pool is divided equally among all winning entries (being those entries with 100% accuracy within that Parlay).
Submitting a claim initiates the payout process. You must follow the instructions provided on the Platform to receive your reward. XO may require additional verification before processing payouts. XO does not guarantee immediate distribution of rewards. If no entry meets the winning criteria, XO may at its sole discretion carry forward the reward pool to a future Parlay, retain it, or allocate it in any way it deems fit. XO may set a time limit for claiming rewards. Unless otherwise specified for a Parlay, rewards must be claimed within 30 days from the date they become available. If a reward is not claimed within that period, it will be forfeited and retained by XO.
If a Parlay cannot be completed or fairly resolved, including where one or more events are cancelled or postponed, XO may void the Parlay. Where a Parlay is voided, each user will be refunded the exact amount of CP used for their entries.
Where XO determines that a Parlay can still be fairly resolved, it may, at its discretion, adjust the Parlay, including by excluding affected events or applying alternative resolution methods.
XO may correct any errors in event data, outcomes, calculations, or results prior to finalization, or after finalization in cases of clear and material error.
Access to Parlays may be restricted, including by reference to (i) a minimum balance of Conviction Points (for example, 1,000 CP), (ii) holding a valid XO Boarding Pass or other promotional credential, or (iii) such other access methods, eligibility criteria, waitlists, invite mechanisms, approval steps or requirements as XO may determine from time to time. The specific access requirements applicable to a Parlay will be set out on the Platform.
Access is granted at XO’s discretion and may be subject to approval, account status, or other requirements determined by XO. XO may grant, deny, suspend, or revoke access to Parlays at any time, with or without notice, including where it reasonably determines that a user has breached these terms or engaged in misuse of the product or the Platform.
PARTICIPATION IN PARLAYS INVOLVES RISK. YOU MAY LOSE ALL CP USED TO ENTER.
OUTCOMES ARE UNCERTAIN AND NO RESULT IS GUARANTEED. DATA DISPLAYED IN PARLAYS, INCLUDING EVENT INFORMATION AND RESULTS, MAY BE DELAYED OR INACCURATE DUE TO SYSTEM OR THIRD-PARTY DEPENDENCIES. XO DOES NOT GUARANTEE THE AVAILABILITY, CONTINUITY, OR ERROR-FREE OPERATION OF PARLAYS, OR THE TIMING OF ANY REWARDS OR PAYOUTS. PARLAYS ARE PROVIDED ON AN “AS IS” BASIS AND MAY BE MODIFIED, SUSPENDED, OR DISCONTINUED AT ANY TIME.