v1.4 Updated Oct 24, 2026 Part of the Terms by reference Previous versions

In plain words: Towns and Members only markets. Where a summary and this document differ, this document applies.

ULTRAMINT — CREATOR-RESOLVED MARKETS: BUYER DISCLAIMER

Operator: Vivaach SRL, Costa Rica
Version: v1.4 [DRAFT]
Effective date: [insert on publication]
Last updated: 24 October 2026

Applicable to: Every participant ("buyer", "you") who takes a position in a Members only market of a Town. A Members only market is always resolved by its creator.

This Creator-resolved Markets: Buyer Disclaimer (this "Disclaimer") forms part of, and is incorporated by reference into, the ULTRAMINT Terms of Service (§7.2). Capitalized terms used but not defined here have the meanings given in the Terms of Service and in the Market Rules and Resolution Policy. Where this Disclaimer and the Terms of Service address the same subject, both apply and the Terms of Service control in the event of conflict.

1. Assumption of Creator Risk

1.1 Acknowledgment of the Creator-Resolved Model

(a) By taking any position in a Members only market within a Town, you fully, knowingly, and irrevocably acknowledge that the resolution of that market depends solely and exclusively on the determination of the market's creator (the "Creator"), and not on the Platform, the UM Kernel, any data source, any attestation mechanism, or any other person or process.

(b) Creating a market as Members only in a Town makes it creator-resolved: no Members only market is resolved by the Platform, and the Creator cannot choose otherwise (Market Rules §3.1). You acknowledge that the Creator is the market's sole Resolver, that the Resolver is fixed in the market's smart contract when the market is created and cannot be changed, substituted, or overridden by any person or entity, including the Platform, Vivaach SRL, or any other participant, and that the Creator resolves the market using their own judgment, at their sole discretion, subject only to the reporting expectation described in Section 3.3.

(c) You acknowledge that the Creator's resolution is not subject to any challenge window, bonded challenge, arbiter ruling, or any other review, appeal, or override process (Terms of Service §2.6(b)). The Creator's report resolves the market directly; there is no hold before it becomes final.

You are giving up a protection that exists elsewhere on the Platform. On a platform-resolved market, the UM Kernel publishes a Proposed Result, and during its challenge window anyone eligible may challenge it by posting a bond and have the Platform rule on it (Market Rules §6). A Members only market gives you none of that. There is no Proposed Result to inspect, no window in which to object, no bond you can post, and no one to hear you. The decision rests with a single person, who may hold a position in the market, and it is final the moment it is made. The absence of recourse here is a departure from the more protective standard available on other markets, and you accept it as a condition of participating in this one.

1.2 Informed Participation and Pre-Position Disclosure

(a) You acknowledge that you were admitted into the Town (by invitation, by an admin approving your application, or by joining a Town open to anyone), that the market is a Members only market and therefore creator-resolved, and that the following disclosure was displayed on the market before you took any position:

"This market is resolved by its creator, who may hold a position."

(b) By taking a position after this disclosure was presented, you represent that you: (i) reviewed and understood the disclosure; (ii) understood that the Creator, and not the Platform or any automated system, would determine the winning outcome; (iii) accepted the Creator's sole resolution authority and the associated risks as a condition of your participation; and (iv) made your own independent assessment of whether to participate, in reliance on the Creator and not on the Platform.

(c) Participation in a Members only market constitutes your informed, voluntary acceptance of the creator-resolved model and all risks described in this Disclaimer. You may not later claim that you were unaware of, or did not consent to, the resolution model.

1.3 Risks You Assume

(a) You expressly and irrevocably assume all risks of participating in a market resolved by its Creator, including without limitation:

(i) the risk that the Creator resolves the market erroneously, whether through misunderstanding, miscalculation, misinterpretation of the resolution criteria, or honest mistake;

(ii) the risk that the Creator resolves the market in a manner that is biased, partial, or influenced by the Creator's personal opinion, preference, relationship with participants, or any other subjective factor;

(iii) the risk that the Creator resolves the market in a manner that benefits the Creator's own position, including where the Creator holds a position on the outcome they select;

(iv) the risk that the Creator resolves the market in bad faith, including knowingly selecting an outcome that does not reflect the real-world result, in order to profit or to cause loss to other participants;

(v) the risk that the Creator delays resolution, does not report within the period described in Section 3.3, or never reports at all, in which case your funds remain committed and no one else can resolve or void the market;

(vi) the risk that the Creator is negligent, unreachable, unresponsive, or incapacitated, and that no substitute resolver can be appointed because the Resolver is fixed in the market's smart contract;

(vii) the risk that the Creator voids the market or stops trading on it at a time of their choosing;

(viii) the risk that the Creator manipulates, procures, or distorts the underlying real-world event or its reporting in order to influence the resolution; and

(ix) any other act, omission, error, judgment, motive, conflict, or conduct of the Creator in connection with the resolution or non-resolution of the market.

(b) These risks are inherent to the design of Members only markets. They are known features of the creator-resolved model, not defects or warranty violations of the Platform.

1.4 Creator Conflict of Interest

(a) Under the Terms of Service (§3.4(a)), the Creator of a Members only market is permitted to hold a position in it. The Creator is not, by reason of holding a position alone, in violation of the Terms of Service or of any obligation owed to you.

(b) The fact that the Creator holds a position in a market they resolve, and resolves in a manner that benefits that position, does not constitute:

(i) a breach of any warranty, representation, or obligation by the Platform;

(ii) a violation of the Terms of Service (provided the Creator has complied with the disclosure requirement in the Terms of Service §3.4(b));

(iii) grounds for any claim, demand, or cause of action against Vivaach SRL; or

(iv) grounds for reversal, adjustment, or voiding of the market's result.

(c) This conflict of interest is a disclosed, accepted, and bargained-for feature of Members only markets, not a hidden risk. You accepted it when you took a position after reviewing the mandatory disclosure.

2. Finality of Creator Resolution and No Platform Liability

2.1 Finality of Resolution

(a) The Creator's resolution, once submitted to the Protocol Contracts, is final, binding, irreversible, non-appealable, and conclusive as between you, all other participants, the Creator, and the Platform.

(b) The result governs settlement even if:

(i) you believe, or it is later shown, that the underlying real-world event occurred differently from the outcome the Creator selected;

(ii) the Creator's resolution does not conform to the market's stated resolution criteria;

(iii) the Creator's resolution was influenced by the Creator's own position, conflict of interest, bias, or any other factor;

(iv) a different outcome would have been reached had the market been resolved by the UM Kernel, a data source, or a different person; or

(v) you or any other participant considers the resolution to be erroneous, unfair, unreasonable, or made in bad faith.

(c) You waive, to the maximum extent permitted by applicable law, any right to contest, appeal, re-litigate, or seek reversal or adjustment of the result of a Members only market, whether before the Platform, in arbitration, in any court, or through any other proceeding.

2.2 Irreversibility by Construction

(a) The irreversibility of settlement in a Members only market is structural, not discretionary. It is a property of the Protocol Contracts' code, not a policy the Platform has chosen and could revoke.

(b) Every resolution function in the Protocol Contracts rejects a second call. No function exists to re-resolve, correct, reverse, or override a settled market, and no function exists by which the Platform, Vivaach SRL, any affiliate, the Creator, or any other person can alter a settled outcome or redirect the resulting allocation of funds.

(c) Once a Members only market settles, the allocation of its funds is permanent and recorded on the public Blockchain. The resolver contract of a Members only market gives the Platform no pause, stop, void, or override function, and the Protocol Contracts have no upgrade mechanism, administrative proxy, rescue function, or sweep to an arbitrary address. A market can pay only its position holders, whoever provided its seed, its creator pool (the Creator and any Market Promoters), its treasury, and an approved yield vault, as set out in the Fee Schedule §4.

(d) You accept that this structural irreversibility means that no remedy involving reversal, correction, re-settlement, or reallocation of funds is available to you, the Platform, or anyone, regardless of the circumstances, including fraud, error, or bad faith by the Creator.

2.3 No Platform Liability for Creator Resolution

(a) To the maximum extent permitted by applicable law, Vivaach SRL and the Platform Parties bear no liability whatsoever for any financial loss, damage, or adverse consequence arising from, connected with, or attributable to a Creator's resolution, non-resolution, void, or stopping of trading in a Members only market, including without limitation losses arising from:

(i) a resolution that is erroneous, inaccurate, or based on incorrect information;

(ii) a resolution that is biased, partial, or influenced by the Creator's relationships, opinions, or preferences;

(iii) a resolution in which the Creator held a position on the winning outcome and resolved in a manner that benefited that position;

(iv) a resolution that participants believe to be made in bad faith, dishonestly, or contrary to the real-world outcome;

(v) a resolution that does not conform to the market's stated resolution criteria or question;

(vi) the Creator's failure or delay in reporting, or failure to report at all;

(vii) any manipulation, procurement, or distortion of the underlying event or its reporting by the Creator; or

(viii) any other act, omission, error, judgment, or conduct of the Creator.

(b) The Platform does not review, supervise, verify, evaluate, or override the Creator's resolution (Terms of Service §2.2(d)). The Platform has no power to override it: the Resolver is fixed in the market's contract when the market is created and cannot be changed. You participate in Members only markets at your own risk and in reliance on the Creator, not the Platform.

(c) Nothing in this Section excludes or limits any liability that cannot lawfully be excluded or limited under applicable law. Where any exclusion or limitation is held unenforceable, it applies to the maximum extent permitted, and the remainder of this Section remains in full force and effect.

3. No Duty to Adjudicate; No Platform Control of the Market

3.1 No Adjudication Duty

(a) Vivaach SRL owes no contractual duty, equitable obligation, fiduciary responsibility, or legal obligation to any buyer or participant to:

(i) review, investigate, evaluate, audit, or verify any resolution made by a Creator in a Members only market;

(ii) determine whether a Creator's resolution conforms to the market's stated resolution criteria, reflects the real-world outcome, or was made in good faith;

(iii) overturn, reverse, modify, delay, or prevent any resolution or its resulting on-chain settlement;

(iv) adjudicate, mediate, or arbitrate any dispute between a buyer and a Creator, between buyers, or between any participants in a Members only market; or

(v) compensate, indemnify, or make whole any buyer for losses resulting from a Creator's resolution, regardless of the circumstances.

(b) The Platform never acts as arbitrator, mediator, court of appeal, or adjudicator for buyers in creator-resolved markets. Its role in Members only markets is limited to providing the Interface through which participants view markets and submit instructions to the Protocol Contracts, and operating the Relay Service that submits transactions on their behalf.

3.2 What the Platform Can and Cannot Do

(a) The Platform cannot act on the market. The Platform cannot resolve, void, pause, or stop trading on a Members only market, and cannot change its result. Only the Creator can report its result, void it, or stop trading on it (Market Rules §3.5).

(b) The Platform's remedies are account-level only. The only measures the Platform can take in connection with a Members only market are directed at accounts and at its own services, such as restricting the Creator's access to the Platform, suspending or terminating the Creator's account, sanctioning the Creator under the Terms of Service (§3.9) and the Market Creator Agreement, and declining to relay a transaction (including under a Platform-wide freeze). None of these resolves, voids, or changes the market, and declining to relay does not stop anyone from acting on the Protocol Contracts directly.

(i) constitutes an acknowledgment, validation, or adjudication of any buyer's claim or grievance;

(ii) creates any enforceable right, entitlement, or expectation in any buyer, whether to have the Platform take similar action in the future, to receive a particular outcome, or to receive any remedy beyond what the Protocol Contracts provide;

(iii) establishes any precedent, custom, practice, or course of dealing obligating the Platform to take the same or any action in any other market or circumstance; or

(iv) converts the Platform into an adjudicator, guarantor, insurer, or fiduciary with respect to any Members only market or its participants.

(d) The Platform's decision not to act, including a decision not to investigate a Creator's resolution or not to restrict a Creator's access, is equally discretionary and equally creates no rights, obligations, or liability.

3.3 Reporting Expectation; No Platform Void

(a) The Creator is expected to report the result within the period set out in the Market Rules §3.5. Holders see the due date, the Creator receives reminders, and an overdue notice is shown once it passes.

(b) Missing that date has no effect on the market itself. It does not void the market, does not resolve it, and does not let the Platform or anyone else do either. It may be a breach of the Creator's obligations to the Platform, which the Platform may sanction at the account level under Section 3.2(b).

(c) There is no on-chain remedy for an absent Creator. Because the Resolver is fixed in the market's smart contract at creation, the Platform cannot substitute itself, any other party, or any automated system as Resolver, and it has no power to void the market. If the Creator never reports or voids, the market stays unresolved and your funds remain committed to it. You should not take a position in a Members only market in reliance on any expectation that the Platform will step in if the Creator does not report.

(d) Yield-vault caveat. Where a market's collateral has been deployed to a yield vault, it must be recovered from the vault before the market can settle or be voided. If the vault is frozen, illiquid, exploited, or otherwise unable to return the collateral, settlement, any void, and all refunds are blocked until recovery succeeds, and the Platform has no power to override this (Terms of Service §2.6(g)).

(e) If the Creator voids. When the Creator voids a Members only market, refunds are made as set out in the Fee Schedule §10: stakes are refunded without a settlement fee, subject to any yield-vault shortfall, and stakes funded with $UM credits are restored as $UM credits rather than paid in USDC. No participant is entitled to the value their position might have had at settlement, to any implied or mark-to-market value, or to any expectation, speculative, or "should-have-won" damages.

3.4 Disputes Are Between Buyer and Creator

(a) If you believe that a Creator has resolved a Members only market erroneously, in bad faith, dishonestly, or in violation of the market's stated resolution criteria, you are solely responsible for pursuing any remedy you may have directly against the Creator through appropriate legal channels.

(b) Vivaach SRL is not a party to any such dispute. Vivaach SRL will not represent either side, will not act as mediator or arbitrator, and will not provide legal advice, evidence, or assistance to either party, except to the extent required by applicable law or legal process (including lawful subpoenas and court orders, as described in the Privacy Policy).

(i) obligate the Platform to take any action in respect of the affected market;

(ii) suspend, delay, or reverse the on-chain settlement of the market;

(iii) entitle any buyer to a refund, compensation, or any remedy from the Platform; or

(iv) create any claim, cause of action, or right of set-off against Vivaach SRL.

4. No Third-Party Beneficiary Rights

4.1 Creator Obligations Are Owed to the Platform Only

(a) The Terms of Service (§3.4(d)) and the Market Creator Agreement impose obligations on the Creator of a Members only market, including the obligation to resolve in good faith, in accordance with the market's stated resolution criteria and the real-world outcome, and not to knowingly resolve to a false or fabricated outcome. Conduct in violation of these obligations is a market-integrity violation subject to enforcement under the Terms of Service (§3.9).

(b) These obligations are owed solely to Vivaach SRL as a matter of contract between the Creator and the Platform. They exist for the Platform's operational and integrity purposes and are enforced, if at all, at the Platform's sole discretion through its account-level enforcement measures (including investigation, account suspension, account termination, fee forfeiture, and the other remedies described in the Terms of Service §3.9).

(c) The existence of these obligations does not imply, create, or constitute any warranty, guarantee, or assurance by the Platform to any buyer that a Creator will comply with them, that the Platform will enforce them, or that the Platform will detect any violation.

4.2 No Third-Party Beneficiary Standing

(a) No buyer or participant in any Members only market acquires any third-party beneficiary rights, whether express, implied, intended, or incidental, under any agreement, obligation, representation, or understanding between Vivaach SRL and a market creator, including the Terms of Service, the Market Creator Agreement, or any other agreement.

(b) No buyer has any direct legal cause of action against Vivaach SRL arising from or based on a Creator's breach of any obligation owed to Vivaach SRL, including any claim that the Platform failed to enforce those obligations or failed to detect a Creator's violation.

(c) No buyer has any legal cause of action against a Creator arising from the Creator's exercise of their resolution authority in a Members only market under the Terms of Service, except as may exist under applicable law entirely independent of, and unrelated to, the Terms of Service, the Market Creator Agreement, or any agreement between the Creator and Vivaach SRL. Nothing in this Disclaimer creates, expands, limits, or waives any right of action that exists under applicable law independently of those documents.

4.3 Platform Enforcement Is Not Buyer-Enforceable

(a) The Platform's enforcement powers under the Terms of Service (§3.9), including investigation, suspension, termination, forfeiture, clawback, and reporting, are administrative and contractual mechanisms between the Platform and the Creator. They are exercised, if at all, at the Platform's sole discretion for platform-integrity purposes.

(b) These enforcement powers:

(i) do not create any buyer-enforceable right to have the Platform investigate, sanction, or take action against any Creator;

(ii) do not entitle any buyer to any portion of any forfeiture, clawback, or penalty imposed on a Creator;

(iii) do not create any obligation on the Platform to notify buyers of enforcement actions or their outcomes; and

(iv) do not constitute an acknowledgment by the Platform that any buyer suffered a cognizable loss or has a valid claim.

(c) The Platform's decision to enforce, or not to enforce, obligations against a Creator does not affect the finality of the result, the irreversibility of on-chain settlement, or the exclusion of Platform liability described in this Disclaimer.

5. Survival and Interpretation

(a) This Disclaimer survives the suspension or termination of your account and the closure of your relationship with the Platform. It applies to every Members only market in which you have taken a position, whether resolved, pending, or voided.

(b) This Disclaimer is in addition to, and does not limit, any disclaimer, limitation of liability, assumption of risk, class-action waiver, arbitration agreement, or other provision of the Terms of Service, the Market Rules and Resolution Policy, or the Risk Disclosure. In the event of conflict between this Disclaimer and the Terms of Service, the Terms of Service control.

(c) The limitations, exclusions, and waivers in this Disclaimer apply to the maximum extent permitted by applicable law. Nothing in this Disclaimer excludes or limits any liability that cannot lawfully be excluded or limited under applicable law. Where any provision is held unenforceable, it shall be enforced to the maximum extent permissible, and the remaining provisions remain in full force and effect.

Cross-references: Terms of Service §§2.2(d), 2.6(b), 2.6(g), 3.4, 3.9, 7.2. Market Rules and Resolution Policy §§3.1, 3.5, 6. Fee Schedule §§4, 10. Market Creator Agreement Part 3. Risk Disclosure §12.8(f).

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