AI Chip Challenge

No purchase is required to open a Kraken account, but participation in this Contest requires executing trades in the Eligible Assets described below. Trading involves risk, including the risk of loss.

1. Sponsor

Tulip HoldCo Ltd., 2nd Floor, Water's Edge Building, Wickhams Cay II, Road Town, Tortola, British Virgin Islands ("Sponsor," "Kraken," "we," "us").

2. Eligible Areas

The Promotion is open to eligible customers in jurisdictions where Kraken Futures trading is available, excluding the United States, United Kingdom, the European Economic Area, Canada, New Zealand, Australia, Philippines and the United Arab Emirates. Void where prohibited.

3. Promotion Period

September 4, 2026, 00:00 UTC through October 3, 2026, 23:59 UTC (the "Contest Period").

4. How to Participate

Participation is automatic for any eligible Kraken account that executes trades resulting in realized profit or loss in the Eligible Assets during the Contest Period. Eligible Assets: SKHYNIX, SOXL, SOXS, NBIS, SAMSUNG, and SANDISK perpetual futures. No separate registration, fee, or purchase is required beyond opening and trading through a Kraken account. A minimum of $1 in cumulative realized profit across the Eligible Assets is required to qualify for ranking.

5. Winner Selection

Participants who meet the minimum qualification are ranked from highest to lowest cumulative realized profit and loss ("PnL") across the Eligible Assets during the Contest Period, based on Kraken's trade and account records. Rankings are determined by Kraken in its sole discretion. Kraken's records are final and binding.

6. Prizes

Total prize pool: $20,000, distributed in USDG as follows: Rank 1 — $3,500; Rank 2 — $2,000; Rank 3 — $1,200; Ranks 4–10 — $500 each; Ranks 11–25 — $250 each; Ranks 26–50 — $80 each; Ranks 51–150 — $30 each; Ranks 151 and below — a shared pool of $1,050, distributed among all remaining qualifying participants. Prizes are credited to the winner's Kraken account, are non-transferable, and Kraken reserves the right to substitute a prize of equal or greater value.

7. Account and Verification Requirements

To receive a Prize, a participant must, before the end of the Contest Period and before prize fulfillment, have: (a) a Kraken account in good standing; and (b) completed at least Intermediate KYC verification, plus any additional verification required by Kraken or applicable law in the participant's jurisdiction.

8. Eligibility

Open only to individuals residing in the Eligible Areas above who are of legal age in their jurisdiction, have an eligible Kraken account, and agree to these Terms and Kraken's Terms of Service. Participants must not be ineligible to participate under applicable law. Kraken employees, contractors, and their immediate family members are not eligible.

9. Disqualification

Kraken may disqualify any participant for fraud, false or misleading information, wash trading or self-dealing, market manipulation, use of multiple accounts, use of bots or automated exploits, or any attempt to circumvent these Terms.

10. Winner Notification and Prize Fulfillment

Winners will be notified via their Kraken account email within a reasonable time after the Contest Period ends. Prizes will be credited within a reasonable time following verification. Unclaimed prizes after the notification period may be forfeited.

11. Consents and Data

By participating, you consent to Kraken's use of your account and trading data solely to administer the Promotion, and to communications about the Promotion, in each case subject to Kraken's Privacy Policy.

12. Disclaimers

Kraken is not responsible for technical failures, platform outages, market data errors, or events of force majeure affecting participation or ranking. Futures and derivatives trading involves a high degree of risk and is not suitable for all investors. Leverage can work against you. You may lose more than your initial deposit. Ensure you fully understand the risks before trading. Futures products are not available in all jurisdictions.

Futures and derivatives trading services for this Promotion are provided by Payward Digital Solutions Ltd. ("PDSL"), a company licensed to conduct digital asset business by the Bermuda Monetary Authority.

SOXL and SOXS are 3x leveraged ETF-referencing instruments that carry embedded leverage before any additional futures leverage is applied. Review all applicable risk disclosures before trading these instruments.

13. Limitation of Liability, Disputes, and Governing Law

By participating in this Promotion, you agree to and hereby release and hold harmless Tulip HoldCo Ltd. and its affiliates, officers, directors, employees, and agents (collectively, "Kraken") from any damage, injury, death, loss, claim, action, demand, or other liability ("Claims") arising from or related to your participation in this Promotion or your receipt or use of any Prize, regardless of whether such Claims, or knowledge of the facts constituting such Claims, exist at the time of entry or arise at any time thereafter.

TO THE EXTENT PERMITTED BY APPLICABLE LAW: (1) ANY AND ALL DISPUTES, CLAIMS AND CAUSES OF ACTION THAT CANNOT BE RESOLVED BETWEEN YOU AND KRAKEN ARISING OUT OF OR CONNECTED WITH THE PROMOTION WILL BE RESOLVED INDIVIDUALLY, WITHOUT RESORT TO ANY FORM OF CLASS ACTION; (2) ANY AND ALL CLAIMS, JUDGMENTS, AND AWARDS WILL BE LIMITED TO ACTUAL THIRD-PARTY, OUT-OF-POCKET COSTS INCURRED, IF ANY, NOT TO EXCEED TWENTY-FIVE US DOLLARS (USD $25.00). ATTORNEYS' FEES ARE NOT RECOVERABLE; (3) YOU WAIVE ALL RIGHTS TO SEEK PUNITIVE, INCIDENTAL, CONSEQUENTIAL, OR SPECIAL DAMAGES, OR LOST PROFITS; AND (4) YOUR REMEDIES ARE LIMITED TO A CLAIM FOR MONEY DAMAGES ONLY AND YOU IRREVOCABLY WAIVE ANY RIGHT TO SEEK INJUNCTIVE OR EQUITABLE RELIEF.

Dispute resolution and governing law are governed by the Kraken Terms of Service applicable to you, available at https://www.kraken.com/legal/global-terms, including all dispute resolution and governing law provisions contained therein. By participating, you agree to those provisions as they apply to your relationship with Kraken.

14. Taxes

Participants are solely responsible for any taxes arising from receipt of a Prize. Kraken does not provide tax advice.

15. General Terms

Kraken may modify, suspend, or terminate this Promotion at any time, at its sole discretion. All decisions by Kraken are final. If any provision is unenforceable, the remaining provisions remain in effect.