ULTRAMINT — MARKET RULES AND RESOLUTION POLICY

Operator: Vivaach SRL, Costa Rica
Version: v2.0 [DRAFT]
Effective date: [insert on publication]
Last updated: 24 October 2026

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This Market Rules and Resolution Policy (the "Policy") is incorporated into and forms part of the ULTRAMINT Terms of Service (the "Terms", §7.2). It sets out the rules every market on ULTRAMINT is created under, how each market is resolved, when a market is voided, how a proposed result can be challenged, and what Vivaach SRL (the "Platform") can and cannot do to a market. Capitalized terms used but not defined in this Policy have the meanings given in the Terms. In the event of conflict between this Policy and the Terms, the Terms control. Money amounts (fees, shares, bonds, seeds and refunds) are set out in the Fee Schedule and are not restated here.

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Table of Contents

1. Purpose and Scope
2. Market Rules Fixed at Creation
3. Resolution Routes
4. Resolution Sources
5. Timing and Finality
6. Challenges
7. Postponed, Cancelled and Ambiguous Events
8. Voids
9. Platform Powers and Their Limits
10. Disclaimer of Liability
11. Finality and Dispute Limitations
12. Assumption of Risk
13. Amendments

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1. Purpose and Scope

1.1 What This Policy Covers

This Policy describes how every market on the ULTRAMINT platform is created, resolved, challenged and voided, which sources are used to decide outcomes, what is disclosed to you before you buy, and the risks you accept by taking a position. Where a rule depends on a person acting rather than on the system enforcing it, this Policy says so.

1.2 Applicability

This Policy applies to every market offered through the Platform:

(a) public markets, which are always resolved by the Platform through the UM Kernel (a "platform-resolved market");

(b) Members only markets of a Town, which are always resolved by their creator (a "creator-resolved market");

(c) Up/Down rounds, short crypto price rounds created by the Platform; and

(d) Combos, joint markets over two or more public markets, created by the Platform.

1.3 Defined Terms

(a) The "UM Kernel" is ULTRAMINT's automated resolution system. It reads a market's source, applies the market's Resolution Rule and proposes a result.

(b) "The UM Kernel's AI judges" are the panel of AI models the UM Kernel uses to decide an AI market (Section 3.3) from the evidence in its fixed feeds.

(c) The "Resolution Rule" is the objective condition written into a market at creation that decides which outcome wins.

(d) The "Designated Source" is the source, listed on Resolution Sources (Section 4), that the UM Kernel reads to apply a market's Resolution Rule.

(e) A "Proposed Result" is the result the UM Kernel publishes for a platform-resolved market before it becomes final. A "Final Result" is a result that can no longer be challenged and against which the market settles.

1.4 Cardinal Rule

Each market resolves under the rules fixed when it was created (Section 2). The Platform does not decide the "true" outcome of real-world events: it applies the market's Resolution Rule to its Designated Source. The Platform decides a result only where this Policy says so: for a market the UM Kernel parks for review (Section 7.3) and when it rules on a challenge (Section 6.4). A creator-resolved market is decided by its creator alone.

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2. Market Rules Fixed at Creation

2.1 What Is Fixed

When a market is created, the following are fixed in it and cannot be changed by the creator, the Platform or anyone else: the question; the outcomes; the Resolution Rule; the resolution route (Section 3); the Designated Source; the close time and resolution horizon; and the market's economic terms under the Fee Schedule, including whether it earns yield.

2.2 Limits

(a) A market must close at least 5 minutes after it is created.

(b) A market's horizon may not exceed 10 years from its creation.

(c) A market has 2 to 8 outcomes. For a market with several outcomes, the creation flow suggests a catch-all outcome such as "None of these", which the creator may remove. If the true answer turns out not to be among the listed outcomes, the market goes to manual review (Section 7.3).

2.3 Creation Review

Every draft passes an automatic review before it can be minted. The review checks that the question can be resolved against a source the market is allowed to use (Section 4), that its outcomes and Resolution Rule are clear, and that it complies with the Acceptable Use and Prohibited Markets Policy. A question whose outcome is impossible, supernatural or unverifiable is refused; a question about an unlikely but possible event is allowed. Passing the review is not an endorsement of the market.

2.4 Versions That Govern a Market

Each market is governed by the versions of this Policy, the Fee Schedule and Resolution Sources in force when it was created, for its whole life. A later version never applies to a market created before it. Superseded versions are archived at /legal/<slug>/versions (for this Policy, /legal/market-resolution/versions).

2.5 What Is Disclosed Before You Buy

Before you can take a position, the market shows:

(a) the Resolution Rule and the Designated Source, or, for an AI market, that it is decided by the UM Kernel's AI judges from ULTRAMINT's fixed feeds;

(b) the resolution route, and for a creator-resolved market the notice in Section 3.5(c);

(c) whether the market can be challenged, and for how long (Section 6.2);

(d) the yield vault, if the market uses one; and

(e) the settlement fee that applies, under the Fee Schedule.

(f) Markets whose terms the Platform does not hold or publish. A market deployed directly to the protocol and observed by the Platform's indexer may carry no Resolution Rule or Designated Source that the Platform holds, and a market whose wording is still under curation or is withheld under moderation has terms the Platform does not publish. For such a market the Platform discloses, in place of (a): that the terms are not published, which of those reasons applies, the resolver's on-chain address and the market's current stage. A market without a published rule has no written rule against which its resolution can be measured.

2.6 Your Acknowledgment

By taking a position you confirm that you have reviewed the disclosures in Section 2.5 (or what is disclosed in their place), that you accept the market's result as final under Section 11, and that you are not relying on any representation by the Platform Parties about the accuracy of any source or the outcome of any real-world event.

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3. Resolution Routes

3.1 The Route Follows From Placement

A market's route is not chosen freely. A public market is always platform-resolved through the UM Kernel. A Members only market is always creator-resolved. There is no other combination: a Members only market cannot be made public, and a public market cannot be creator-resolved.

3.2 Automated Feeds

Most public markets are resolved by the UM Kernel against an automated feed chosen by the market's category: crypto prices, sports results or esports results (Section 4). The UM Kernel applies the Resolution Rule to the feed's data as received, without discretion, and publishes a Proposed Result, which can be challenged during its challenge window (Section 6).

3.3 AI Markets

(a) An AI market is a public market on a question that no automated feed covers. The creator gives no source. At creation, the UM Kernel checks that ULTRAMINT's fixed feeds (the official data releases and news feeds listed on Resolution Sources) can resolve the question, and refuses the market if they cannot.

(b) At the market's deadline, the UM Kernel's AI judges decide the result from the feeds as frozen at the deadline. The question is evaluated once, at resolution time, not continuously.

(c) If no qualifying news or data in those feeds shows that the event happened by the deadline, the market resolves NO. It is not voided.

(d) If the AI judges do not agree, or the feeds cannot be read, the market is parked for manual review (Section 7.3).

(e) The way the UM Kernel's AI judges work may change over time, provided they continue to decide each AI market from the evidence in the fixed feeds against its Resolution Rule.

3.4 Custom Source Markets

A Custom Source Market is available only in a private Town. Its creator names the source the UM Kernel reads to resolve it. Before you buy, the market shows a warning that a source controlled by the creator can be used to fake the outcome. Apart from its source, a Custom Source Market is resolved and challenged as an AI market, and its challenge window is the one for AI markets (Section 6.2).

3.5 Members Only Markets (Creator-Resolved)

(a) A Members only market is resolved only by its creator, whose report resolves the market directly. There is no challenge window and no hold: the creator's report is final when it is made.

(b) Only the creator can report the result of, void, or stop trading on a Members only market. The Platform cannot resolve, void, pause or stop it, or change its result. This is fixed in the market's contract.

(c) Before you buy, the market shows: "This market is resolved by its creator, who may hold a position." The creator may hold a position in the market.

(d) The creator is expected to report within 7 days after the market closes. Holders see the due date, the creator receives reminders, and an overdue notice is shown once the date passes. Missing the date does not void the market and does not let anyone else resolve it.

(e) The terms on which you take a position in a Members only market are set out in the Creator-resolved Markets: Buyer Disclaimer.

3.6 Up/Down Rounds

(a) Up/Down rounds are created by the Platform on BTC, ETH and SOL, with durations of 5 minutes, 15 minutes, 1 hour and 4 hours.

(b) A round resolves Up if the 60-second average price at close is equal to or higher than the 60-second average price at open, and Down otherwise. A tie resolves Up.

(c) Prices come from the CoinMarketCap price tape. Some rounds are instead judged on a composite index of Binance, Coinbase and Kraken prices; a round that uses the index says so.

(d) A round voids automatically if its price data is too thin or has gaps (Section 8.2).

3.7 Combos

(a) A Combo joins 2 to 5 public markets (its legs) into one market on their joint result. Combos are created by the Platform. An Up/Down round cannot be a leg.

(b) A Combo resolves once every leg has a Final Result, on the joint result of its legs. A Combo voids if any leg voids (Section 8.2).

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4. Resolution Sources

4.1 The List in Force at Creation

The sources the UM Kernel uses are listed on Resolution Sources. That list is versioned: each market is resolved under the version in force when it was created (Section 2.4). The list names the provider for each category, the price tape used by Up/Down rounds, and the fixed feeds read by the UM Kernel's AI judges for AI markets.

4.2 Categories Open at Launch

The categories in which markets can be created at launch are: Crypto (resolved from CoinMarketCap); Sports (resolved from API-Sports, on the official full-time result of football fixtures); Esports (resolved from Cito, on League of Legends series results); and AI markets (Section 3.3). Politics, geopolitics, finance and culture are not open as creation categories at launch; they appear only as discovery filters for AI markets on those subjects. Markets on social-media metrics are not available.

4.3 Designated Source Output Is Final

(a) A market's Designated Source, as read at resolution, decides the market whether or not it is accurate, complete, timely or consistent with the real-world outcome, including where the data is later corrected or restated, the source suffered downtime or rate-limiting, another source would have reported differently, or the data was manipulated by a third party.

(b) The Platform does not verify, audit or correct a source's data, and does not adjudicate what "really happened", except through a challenge (Section 6) or manual review (Section 7.3).

(c) By taking a position you waive, to the maximum extent permitted by applicable law, any right to contest a result on the ground that its Designated Source was wrong, other than through a challenge under Section 6.

4.4 Source Failure and Substitution

If a market's Designated Source is unavailable, discontinued, materially changed, returns data that cannot be applied to the Resolution Rule, or has, in the Platform's reasonable determination, been manipulated or compromised, the Platform may:

(a) delay resolution until the source is available or corrected;

(b) designate a substitute source of comparable authority, which then becomes the market's Designated Source for all purposes; or

(c) where the question can no longer be answered, void the market (Section 8.3).

A result reached on a substitute source is final to the same extent as one reached on the original source.

4.5 Changes to the List

The Platform may add, replace or remove providers and categories by publishing a new version of Resolution Sources. A new version applies to markets created after it. A market already open keeps its Designated Source, subject only to Section 4.4.

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5. Timing and Finality

5.1 From Close to Final Result

(a) A market stops accepting positions at its close time, or earlier if it is stopped (Section 9.1).

(b) For a platform-resolved market, the UM Kernel publishes a Proposed Result once the event can be resolved. The Proposed Result can be challenged during its challenge window (Section 6.2).

(c) If no challenge is made, the Proposed Result becomes final automatically when the window ends. If a challenge is made, the result becomes final when the challenge is ruled on or the ruling deadline passes (Section 6.5).

(d) For a creator-resolved market, the creator's report is final when it is made (Section 3.5).

5.2 Settlement and Claims

Once a result is final, the market settles under the Fee Schedule and holders of the winning outcome can claim. Where the market used a yield vault, its collateral must first be withdrawn from the vault, which can delay payouts (Fee Schedule §9.6).

5.3 Settlement Is Irreversible

When a market settles, its outcome and the resulting allocation of funds are permanent. Every resolution function in the protocol contracts rejects a second call, and no function exists by which the Platform, Vivaach SRL, any creator or any other person can re-resolve a settled market or redirect its settled funds. The Platform Parties are not liable for any consequence of this irreversibility, including where a result is later shown to have been incorrect.

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6. Challenges

6.1 Who Can Challenge

(a) Every platform-resolved market has a challenge window after the UM Kernel publishes its Proposed Result. Anyone who is signed in and eligible to use the Platform can challenge through the Interface, whether or not they hold a position. The protocol contract also accepts a challenge sent to it directly.

(b) One challenge can be made per Proposed Result. A market can be challenged again only if a new Proposed Result is published.

(c) Once the window passes with no challenge, the result is final and cannot be challenged later. There is no late challenge.

(d) A Members only market has no challenge (Section 3.5).

6.2 Challenge Windows

The challenge window for each type of platform-resolved market is:

The window that applies to a market is the one for its type in the version of this Policy in force when it was created, and it is shown on the market before you buy.

6.3 The Bond

A challenge requires a bond, shown in full before you sign. The amount of the bond is set out in the Fee Schedule. A bond is capital at risk: it is not a fee, and its return depends on the outcome of the challenge (Section 6.5).

6.4 Who Decides

The Platform reviews every challenge. An administrator of the Platform rules on it from ULTRAMINT's operations console, signing the ruling on-chain with the Platform's arbiter key. There are no independent reviewers at present; the Platform may add independent reviewers in a later version of this Policy.

6.5 Outcomes

(a) Challenge upheld. If the Platform finds the Proposed Result wrong, the result is corrected and the bond is refunded to the challenger.

(b) Challenge rejected. If the Platform finds the Proposed Result right, the result stands and the bond is forfeited to the holders of the winning outcome pro rata, or to the Platform's treasury if there are none.

(c) No ruling in time. If no ruling is made within 72 hours of the challenge being posted, the original Proposed Result stands and the bond is refunded.

(d) A successful challenge earns nothing beyond the refund of the bond.

6.6 Effect of a Challenge

A challenge delays finality until it is ruled on or the ruling deadline passes. A ruling can overturn a Proposed Result. While a challenge is pending, the market cannot settle and no one can claim.

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7. Postponed, Cancelled and Ambiguous Events

7.1 Postponed Sports Events

If a sports event is postponed, the market stays open and resolves on the result of the rescheduled event if it is played within 7 days of its original start. Otherwise the market is voided (Section 8.3).

7.2 Dated Non-Sports Events

A market on an event that is not a sports fixture resolves according to its Resolution Rule. A question of the form "by date X" resolves NO if the event did not happen by that date. Such a market is voided only when its question can no longer be answered, for example because the event was cancelled outright or its source is permanently gone.

7.3 Manual Review

(a) The UM Kernel parks a market for review when it cannot resolve it, including where the AI judges do not agree, the source cannot be read, the true answer is not among the listed outcomes, or the data fails.

(b) The Platform then resolves or voids the market, with a written note stating its reasons, and aims to do so within 5 business days of the market being parked.

7.4 Ambiguity

Where the Resolution Rule can be read more than one way, the UM Kernel applies its plain meaning in the light of the market's question. A market that remains genuinely ambiguous is parked for manual review under Section 7.3.

7.5 Members Only Markets

For a Members only market, postponement, cancellation and ambiguity are for the creator to deal with, by reporting or voiding it (Section 3.5). The Platform cannot void or resolve it.

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8. Voids

8.1 What a Void Does

A void cancels a market's result and returns its money as set out in the Fee Schedule. A void never pays a winning outcome, and once a void is final it cannot be reversed.

8.2 Automatic Voids

A market voids automatically when:

(a) an Up/Down round's price data is too thin or has gaps;

(b) any leg of a Combo voids; or

(c) on a crypto market comparing two assets, a price feed is silent at close, where the market's Resolution Rule says so.

8.3 Voids Decided by the Platform

The Platform may void a platform-resolved market before its result is final where:

(a) the market is parked for review and cannot be resolved (Section 7.3);

(b) a postponed sports event is not played in time (Section 7.1), or an event is cancelled or its question can no longer be answered (Section 7.2);

(c) the Designated Source fails and no substitute is designated (Section 4.4);

(d) the market is found, after it was listed, to breach the Acceptable Use and Prohibited Markets Policy;

(e) the market, its source or its underlying event has been manipulated or exploited in a way that defeats its integrity; or

(f) a court, regulator or other authority requires it, or the Platform determines that it is required to comply with applicable law (Terms §6.2).

8.4 Members Only Markets

Only the creator can void a Members only market (Section 3.5).

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9. Platform Powers and Their Limits

9.1 What the Platform Can Do

(a) Pause buys on a platform-resolved market, which is reversible, and stop trading on it, which closes the market early. A stopped market resolves and pays out exactly as one that closed at its original time.

(b) Freeze parts of the Platform off-chain by scope: buys, claims, market creation, resolution (including challenges) and relays.

(c) Hide a market from discovery. Hiding removes a market from discovery and listings; it does not stop trading through a direct link, and holders can always reach it to claim.

(d) Resolve or void a market the UM Kernel parks for review, with a written note (Section 7.3), and rule on challenges (Section 6.4).

(e) Void a platform-resolved market before its result is final, in the cases listed in Section 8.3.

(f) Add or remove the yield vaults markets can use, and rotate operator keys. Administrative keys are held in a multisig (Risk Disclosure §12.7).

9.2 What the Platform Cannot Do

(a) Change the result of, void, pause or stop a Members only market.

(b) Change a market's economic terms after it is created.

(c) Take funds from a market, or change who a settled market pays.

(d) Change or reverse a Final Result (Section 5.3).

(e) Decide the result of a platform-resolved market other than through manual review (Section 7.3) or a challenge ruling (Section 6.4).

9.3 Rights, Not Duties

The powers in Section 9.1 are rights, not duties. The Platform is under no obligation to monitor markets or to use any power, and no use or non-use of a power gives anyone a remedy they can invoke, demand or appeal to, or sets a precedent for any other market.

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10. Disclaimer of Liability

10.1 "As Is" and "As Available"

The UM Kernel, the UM Kernel's AI judges and every Designated Source are provided on an "as is" and "as available" basis. To the maximum extent permitted by applicable law, the Platform Parties disclaim all warranties, express or implied, regarding them, including any warranty of accuracy, completeness, timeliness, availability, fitness for a particular purpose, merchantability or non-infringement.

10.2 No Liability for Third-Party Data Failures

Designated Sources are operated by independent third parties. The Platform Parties are not liable for any loss arising from:

(a) inaccurate, incomplete, delayed, corrupted, manipulated, restated or erroneous data from any Designated Source;

(b) the unavailability, discontinuation, rate-limiting or change of any Designated Source;

(c) errors, latency, downtime or failures in the UM Kernel, the UM Kernel's AI judges or any part of the resolution infrastructure;

(d) any incorrect result arising from any of the foregoing; or

(e) any change of provider under Section 4.5.

10.3 No Liability for Creator-Resolved Markets

The Platform Parties are not liable for any determination, error, delay, bad faith, conflict of interest or misconduct of a creator resolving a Members only market. You take a position in such a market in reliance on its creator, not the Platform.

10.4 No Liability for Market, Protocol, or Third-Party Exploits

To the maximum extent permitted by applicable law, the Platform Parties are not liable for any loss arising from: front-running, sandwiching, latency arbitrage or other ordering strategies by any person; manipulation of a Designated Source or of the underlying event or its reporting; exploitation of the pricing curve, the smart contracts or any other component by a third party; or congestion, reorganizations, forks or failures of the blockchain, a node, the relay, a sequencer or other infrastructure. You assume these risks as inherent to on-chain prediction markets.

10.5 Aggregate Liability Cap

Without limiting any broader limitation of liability in the Terms (including §6.8), the aggregate liability of the Platform Parties to you arising out of or relating to resolution, any source or any market shall not exceed the total fees actually received by the Platform from you in respect of the affected market. In no event shall the Platform Parties be liable for indirect, incidental, special, consequential, exemplary or punitive damages, or for lost profits, lost opportunity or expectation damages.

10.6 Savings Clause

Nothing in this Policy excludes or limits any liability that cannot lawfully be excluded or limited. Where any exclusion or limitation is held unenforceable, it applies to the maximum extent permitted, and the remainder of this Policy remains in effect.

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11. Finality and Dispute Limitations

11.1 Finality

A Final Result is final, binding, non-appealable and conclusive as between you, all other participants and the Platform, even if:

(a) you believe, or it is later shown, that the underlying event occurred differently;

(b) the Designated Source reported inaccurate, delayed, corrected or erroneous data;

(c) a different result would have been reached with a different source, method or resolver; or

(d) for a Members only market, the creator's determination was incorrect, unreasonable or made in bad faith.

11.2 The Only Avenues

You waive, to the maximum extent permitted by applicable law, any right to contest, appeal, re-litigate or seek reversal of a result, before the Platform, in arbitration or otherwise, except:

(a) a challenge made during a market's challenge window under Section 6; and

(b) a void under Section 8 and the Terms (§2.4).

Neither is available to you as of right outside the conditions this Policy sets for it. A Members only market has neither, except a void by its creator.

11.3 What Protects You

Your protection is mostly front-loaded: the disclosures in Section 2.5 are the information on which you are expected to decide whether to take a position. Review them before you buy. Outside a challenge window, you cannot revisit an outcome afterwards.

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12. Assumption of Risk

By taking a position in any market, you acknowledge and accept that:

(a) prediction markets involve substantial risk, including the loss of the whole amount you commit;

(b) results depend on third-party data and automated systems, which may fail, be manipulated or produce outcomes that differ from reality;

(c) the UM Kernel's AI judges are automated and may reach results you disagree with, including a NO result because no qualifying news appeared by the deadline;

(d) a challenge can delay a result and can overturn it, and a bond posted to challenge can be forfeited;

(e) Members only markets depend entirely on their creator's judgment, which the Platform does not review and cannot override;

(f) settlement is irreversible once a market settles;

(g) you have independently evaluated each market in which you take a position and are not relying on any representation by the Platform Parties as to any source, result or real-world event; and

(h) these risks are a condition of your use of the Platform, and the Risk Disclosure applies in full.

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13. Amendments

(a) The Platform may amend this Policy by publishing a new version at this Policy's URL, stating its effective date.

(b) An amendment applies only to markets created after it takes effect. Each market keeps the version in force when it was created (Section 2.4).

(c) Material changes are notified as set out in the Terms (§7.2 and §7.3).

(d) Superseded versions of this Policy are archived at /legal/market-resolution/versions.

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This document is part of the ULTRAMINT legal document suite and is incorporated by reference into the ULTRAMINT Terms of Service. Cross-references: Terms §§2.4, 6.2, 6.8, 7.2, 7.3. Fee Schedule §§9, 10, 11. Risk Disclosure §12.7. Creator-resolved Markets: Buyer Disclaimer. Acceptable Use and Prohibited Markets Policy. Resolution Sources.