THE TRADING CHALLENGE IS SUBJECT TO THESE RULES, THE KRAKEN.COM TERMS OF SERVICE , AND THE PAYWARD BROKERS PTE. LTD TERMS & CONDITIONS, WHICH EACH FORM A CONTRACT, READ THEM CAREFULLY.
Level Up Challenge Period:
The “Level Up Challenge Period” begins at 03:00 PM Coordinated Universal Time (“UTC”) on 15th August, 2023, and ends at 03:00 PM UTC on 14th September, 2023. Prize amounts will be determined on or about 15th September, 2023.
Eligibility to Participate in the Level Up Challenge:
The Level Up Challenge is open during the Level Up Challenge Period to anyone (i) with an Account (as defined in the Payward Brokers Pte. Ltd Terms & Conditions), (ii) reside in a jurisdiction where Derivatives trading competition is available, and (iii) not otherwise ineligible to participate under the Kraken.com Terms of Service, the Payward Brokers Pte. Ltd Terms & Conditions, the Level Up Challenge rules, or applicable law.
Bonus USD Prize Tiers:
You will win the prize corresponding to your Multi Collateral Derivatives wallet trading volume tier achieved during the Level Up Challenge Period as follows:
Trading Volume | Bonus USD |
|---|---|
5 - 5,000 | 10.00 |
5,000 - 100,000 | 30.00 |
100,000 - 200,000 | 50.00 |
> 200,000 | 150.00 |
The MC Derivatives wallet Bonus USD collateral balance will be funded in the amount of the trading volume prize tier achieved during the Level Up Challenge Period upon Kraken’s verification of all requirements to receive the prize.
Except as set forth in these Official Rules, the Bonus USD prize will be treated on the same terms as if it is a USD collateral asset. The Bonus USD prize may only be used as Collateral (as defined in the Payward Brokers Pte. Ltd Terms & Conditions) and pay fees/funding rates in your Multi Collateral Derivatives wallet and cannot be withdrawn, transferred, redeemed, or otherwise used except as Collateral within your Multi Collateral Derivatives wallet.
All prize details not specified in these rules will be determined in Kraken’s sole discretion. Kraken will have no obligations or responsibilities to any participant after the Level Up Challenge Period expires and Accounts have been funded with any prizes. Kraken is not responsible for any inability to accept or use any prize (or portion thereof) for any reason. Participants waive the right to assert as a cost of winning any prize, any and all costs of participation in the Level Up Challenge. Any and all taxes and duties that may be due on the value of the prize is the responsibility of the prize winner.
General Rules:
Kraken’s decisions will be final in all matters relating to the Level Up Challenge. Kraken reserves the right to disqualify participants for (1) violation of these rules, including breach of the Kraken.com Terms of Service or the Payward Brokers Pte. Ltd Terms & Conditions; (2) violations of applicable law; (3) using an Account other than your own Account; (4) using multiple Accounts; or (5) engaging in any suspicious or inappropriate trading activities. If the Level Up Challenge is not capable of running as planned for any reason, Kraken reserves the right, in its sole discretion, to cancel, modify, or suspend the Level Up Challenge.