Terms of Service

1. Agreement to these Terms

Liquidate (the "Platform," "we," "us," or "our") is operated by [Liquidate operating entity]. These Terms of Service (the "Terms") form a binding agreement between you and us governing your access to and use of the Platform, including the website, the application, smart contracts, and all related services (collectively, the "Service").

By accessing the Service, connecting a wallet, registering for a tournament, or clicking to accept, you confirm that you have read, understood, and agree to be bound by these Terms and by our Privacy Policy. If you do not agree, do not use the Service. We record the time and version of your acceptance.

2. Eligibility

You may use the Service only if you:

• are at least 18 years old and of legal age of majority in your jurisdiction;
• have the legal capacity to enter into a binding contract;
• are not located in, a resident of, or accessing the Service from a Restricted Jurisdiction (a country or region where competitive derivatives trading, contests for value, or the Service is unlawful or where we do not offer it);
• are not a person subject to economic or trade sanctions, and are not listed on any prohibited- or restricted-party list; and
• have not been previously suspended or removed from the Service.

Eligibility is your responsibility. We may use geolocation, wallet screening, and other controls to enforce these limits, and we may refuse, restrict, or revoke access at our discretion. Using a VPN, proxy, or false information to evade restrictions is prohibited and grounds for disqualification and forfeiture.

3. What Liquidate is — and is not

Liquidate operates skill-based trading tournaments. Competitors trade perpetual futures during a fixed window and are ranked by a deterministic composite score (see Section 6). Outcomes are determined by relative trading skill, not by chance; where this distinction matters under local law, the Service is offered only where such skill-based competitions are lawful.

Liquidate is non-custodial. We never take custody of, hold, or control your funds or private keys. Trading is executed by you, from your own wallet, on independent third-party venues (for example, Hyperliquid). We are not a broker-dealer, futures commission merchant, exchange, money transmitter, bank, custodian, or investment adviser, and we do not provide brokerage, custody, investment, legal, tax, or financial advice. Nothing on the Service is a recommendation or solicitation to trade any instrument.

4. Accounts and wallets

Access is authenticated by connecting a self-custodial wallet and signing a message to prove control of the address. You are solely responsible for the security of your wallet, devices, seed phrase, and private keys. We cannot recover, freeze, or reverse transactions, and we have no ability to access your wallet. Any action taken through your wallet is deemed authorized by you. Notify us promptly of any suspected unauthorized use.

5. Tournaments, entry fees, and prize pools

Each tournament publishes its rules before you join: format and duration, entry fee (which may be zero for "free rolls"), eligible assets, maximum leverage, starting equity, prize structure, applicable fees, and scoring profile. You must read and accept the tournament rules before registering; that acceptance is recorded.

• Entry. Paid entry fees are escrowed in an audited smart contract, never in a Liquidate wallet.
• Prize pool. The net prize pool is funded by entry fees less applicable fees (Section 7) and is distributed to eligible winners per the published prize structure.
• Eligibility to win. Prizes are awarded only to competitors who meet the tournament's qualification rules and pass any required compliance checks (Section 13). Disqualified entries forfeit standings and any prize.

6. Composite scoring and onchain settlement

Rankings are computed by a deterministic composite score derived from transparent, normalized venue data — by default weighting net profit and loss, risk-adjusted return, and profit factor, with a penalty for liquidations. The same inputs always produce the same output. The current weights are published in the Service.

When a tournament window closes, results are scored, committed to a Merkle root recorded onchain, and (after any dispute window) prizes become claimable directly by winners through the smart contract. Settlement is intended to be verifiable and final. Scoring formulas and prize-distribution logic are not changed silently; any change is documented and applies prospectively.

Disputes. Concerns about scoring or settlement must be raised through our support and dispute process within the published dispute window. Outside that process and window, settled results are final.

7. Fees, rake, and taxes

We may retain a platform fee ("rake") and creators may retain a creator fee, each taken from the gross prize pool and capped as disclosed at tournament creation. The applicable fees and the resulting net pool are shown before you enter. Blockchain network ("gas") fees and any third-party venue fees are your responsibility and are not set or received by us.

Taxes are your responsibility. You are solely responsible for determining, reporting, and paying any taxes arising from your use of the Service, including on winnings. We may be required to collect tax information or report certain amounts.

8. Refunds, cancellation, and no-contest

Entry fees are generally non-refundable once a tournament begins. If a tournament is cancelled, fails to meet its minimum field, or is voided, or if it concludes with no qualified winners ("no-contest"), entry fees are made refundable to paid entrants through the smart contract, and no platform or creator fee is taken in that case. We do not control blockchain availability and cannot guarantee the timing of on-chain refunds.

9. Risk disclosure

Digital assets and the markets you trade on are volatile, may be illiquid, and may be subject to operational, technological, regulatory, and counterparty risks outside our control. Smart contracts and blockchains can contain bugs, be exploited, fork, congest, or fail. Past performance is not indicative of future results. We do not guarantee any outcome, profit, prize, uptime, or the performance, security, or availability of any third-party venue, wallet, or network. You trade entirely at your own risk and decision.

During beta or testnet phases, the Service may operate on test networks using test assets with no monetary value; features, rules, and data may change, and no real prizes are awarded in those phases.

10. Fair play and prohibited conduct

You agree not to, and not to attempt to:

• engage in wash trading, self-trading, collusion, account-sharing, or operate multiple accounts to gain an unfair advantage;
• manipulate markets, scoring inputs, or the leaderboard, or exploit pricing, oracle, or settlement errors;
• use bots, automation, or third-party tools where a tournament prohibits them, or otherwise breach a tournament's rules;
• access the Service from a Restricted Jurisdiction or circumvent geolocation, sanctions, age, or identity controls;
• interfere with, attack, reverse engineer, or gain unauthorized access to the Service, smart contracts, or other users; or
• use the Service for money laundering, fraud, financing of illegal activity, or any unlawful purpose.

11. Surveillance, disqualification, and forfeiture

We operate continuous anti-cheat surveillance (including wash-trading detection, concentration and leverage limits, and sanctions screening). We may, in our reasonable discretion and with an evidence record, disqualify entries, void results, withhold or claw back prizes, and suspend or terminate accounts for breach of these Terms or tournament rules. Disqualified competitors forfeit standings and any associated prize, which may be reallocated to eligible competitors or returned to the pool as the rules provide.

12. Creators and hosts

The Service may permit eligible users to create and host tournaments ("Creators"). Creators configure tournament parameters within validated, bounded templates; Creators cannot compute scores or control payouts, which the Platform performs deterministically. Creators are solely responsible for their tournaments and promotions, must not make false, misleading, or guaranteed-return claims, must clearly and accurately display prize pools and any revenue share, and must comply with all applicable promotion, advertising, and financial-promotion rules and with our creator guidelines. Creators agree to the additional creator terms made available to them.

13. Compliance — sanctions, AML, and identity

We may screen wallet addresses and users against sanctions and prohibited-party lists, block or restrict access, and require identity verification (KYC) — for example, before prizes above a threshold may be claimed. You agree to provide accurate information when requested. We may withhold prizes or restrict access pending verification and may report activity to authorities where legally required.

14. Intellectual property and license

The Service, including its software, text, design, logos, and the "Liquidate" name and marks, is owned by us or our licensors and protected by intellectual-property laws. Subject to these Terms, we grant you a limited, personal, non-exclusive, non-transferable, revocable license to use the Service for its intended purpose. You may not copy, modify, distribute, sell, or create derivative works except as expressly permitted. Any open-source components are governed by their own licenses.

15. Third-party services and blockchains

The Service interoperates with third-party venues (e.g., Hyperliquid), wallets, blockchains, and other services that we do not own or control and that have their own terms and risks. We do not endorse and are not responsible for any third party, and your use of them is at your own risk and subject to their terms. On-chain transactions are irreversible and public.

16. Disclaimers

The Service is provided "as is" and "as available," without warranties of any kind, whether express, implied, or statutory, including any implied warranties of merchantability, fitness for a particular purpose, title, accuracy, and non-infringement. We do not warrant that the Service will be uninterrupted, secure, error-free, or that scoring, settlement, or any third-party venue or network will be available or accurate. No advice or information obtained from the Service creates any warranty not expressly stated here.

17. Limitation of liability

To the maximum extent permitted by law, in no event will we or our affiliates, officers, employees, or agents be liable for any indirect, incidental, special, consequential, exemplary, or punitive damages, or for any loss of profits, trading losses, prizes, data, goodwill, or digital assets, arising out of or relating to the Service, whether based in contract, tort, or otherwise, even if advised of the possibility. To the extent a liability cannot be excluded, our aggregate liability for all claims will not exceed the greater of (a) the total fees you paid to us in the three (3) months before the event giving rise to the claim, or (b) USD 100. Some jurisdictions do not allow certain limitations, so some of the above may not apply to you.

18. Indemnification

You agree to indemnify and hold harmless Liquidate and its affiliates from any claims, losses, liabilities, and expenses (including reasonable legal fees) arising from your use of the Service, your trading activity, your breach of these Terms or tournament rules, your violation of any law or third-party right, or your taxes.

19. Dispute resolution; arbitration; class-action waiver

Please contact us first; most concerns can be resolved informally. Except where prohibited by law, you and we agree that any dispute arising out of or relating to these Terms or the Service will be resolved by final and binding arbitration on an individual basis, and you and we waive any right to a jury trial or to participate in a class, collective, or representative action. The seat, rules, and administering body of arbitration, and the governing law and venue, are those of [Governing Jurisdiction], without regard to conflict-of-laws rules. Either party may seek injunctive relief in court to protect intellectual property or confidential information. This Section survives termination.

20. Changes to the Service and these Terms

We may modify, suspend, or discontinue any part of the Service at any time. We may update these Terms; if we make material changes we will update the "Last updated" date and, where appropriate, provide additional notice. Your continued use after changes take effect constitutes acceptance. If you do not agree, stop using the Service.

21. Suspension and termination

We may suspend or terminate your access at any time, with or without notice, for any reason, including suspected breach of these Terms, legal or compliance requirements, or risk to the Service or other users. You may stop using the Service at any time. Provisions that by their nature should survive termination will survive.

22. General

These Terms, together with the Privacy Policy and any tournament rules and creator terms you accept, are the entire agreement between you and us regarding the Service. If any provision is held unenforceable, the remainder stays in effect. Our failure to enforce a provision is not a waiver. You may not assign these Terms without our consent; we may assign them. We are not liable for any failure or delay caused by events beyond our reasonable control (including network, venue, or infrastructure failures). These Terms do not create any agency, partnership, or employment relationship.

23. Contact

Questions about these Terms: legal@liquidate.gg, or [Liquidate operating entity], [registered address].