Dear Users:
To help you better understand our event futures product and its settlement rules, we summarize the basic mechanics and key terms below. Please read carefully and fully evaluate the risks before participating.
1. What are Event Futures
Event futures are short-term directional derivatives in which traders must predict, within the contract period, whether the underlying asset (e.g., BTC/USDT) will finish above (UP) or below (DOWN) the starting reference price, and open positions accordingly.
2. Win / Loss Determination and Settlement Rules
UP (WIN — UP): If the settlement price at expiry > starting reference price, users who chose “UP” win and receive the corresponding payout.
DOWN (WIN — DOWN): If the settlement price at expiry < starting reference price, users who chose “DOWN” win and receive the corresponding payout.
No Price Change (Draw): If the settlement price at expiry = starting reference price, the directional prediction is treated as incorrect; the invested principal will not be returned and will be forfeited. This rule prevents “draw arbitrage” and safeguards fairness and risk control — please note this before placing orders.
3. Settlement Price & Data Sources
The settlement price is determined by the index/reference price specified on the futures page (an aggregate, weighted feed from multiple major exchanges). The settlement timestamp is the expiry time or snapshot moment specified in the contract description. Please refer to the futures detail page for the authoritative rule.
Correct predictors will receive payouts according to the payout ratio defined in the contract; losers will forfeit their invested principal (including draw cases treated as losses).
4. Risk Control & Handling of Violations
To preserve fairness, the platform employs strict detection for abnormal trading (wash trades, spoofing, mass registrations, etc.). Verified abnormal trades will be deemed invalid; the platform may cancel rewards, reclaim profits, and impose restrictions, freezes, or bans on related accounts.
Providing false KYC, impersonation, or third-party identity verification will result in immediate disqualification and further action.
The platform identifies related accounts using multi-dimensional methods (device fingerprinting, IP, fund flows, behavioral patterns, etc.). Multiple accounts under the same real identity or highly correlated accounts will be consolidated for rule enforcement.
5. Recommendations Before Participating
Carefully read the full rules on the event futures product page; confirm the starting price, settlement time, and fees.
Event futures are fast-paced and high-risk; participate only according to your risk tolerance and set position sizes prudently.
If you hold related spot or futures positions, be aware of time windows and potential cross-product risks.
If you dispute a settlement result, submit a ticket within the platform’s specified timeframe and provide supporting evidence; the platform will verify per procedure.
6. Inquiries & Appeals
To request details for a single event futures trade, obtain settlement basis information, or file an appeal, please contact us via in-app customer support or submit an online ticket. After receiving complete documentation, the platform will investigate using the applicable rules and data and respond accordingly.
Participation implies you have read and agreed to the above rules. Thank you for your trust and support — we wish you successful trading.
BitTap Team
September 20, 2025