First Options Trade Reward
Effective Date: 16 July 2026
BY PARTICIPATING IN THIS PROMOTION, YOU AGREE TO THESE OFFICIAL RULES AND THE KRAKEN.COM TERMS OF SERVICE, WHICH EACH FORM A CONTRACT. READ THEM CAREFULLY BEFORE PARTICIPATING.
1. Sponsor
This Promotion is sponsored by Tulip HoldCo Ltd., 2nd Floor, Water’s Edge Building, Wickhams Cay II, Road Town, Tortola, British Virgin Islands (the “Sponsor” or “Kraken”).
Options trading services are provided by Kraken Derivatives, the trading name of Payward Digital Solutions Ltd. ("PDSL"), a Bermuda company licensed to conduct digital asset business by the Bermuda Monetary Authority. PDSL operates the request-for-quote system through which eligible clients trade options contracts. PDSL acts as the system operator only; it is not a counterparty to Options contracts, which are bilateral contracts formed between the requesting client and the relevant quote provider. Eligible clients that have agreed to the relevant terms and conditions may access PDSL's Options Service.
2. Eligible Areas
The Promotion is open to eligible customers residing in jurisdictions where Kraken derivatives services are available. Residents of the United Kingdom, the European Economic Area, the United States, and Australia are not eligible to participate. Void where prohibited.
3. Promotion Period
The Promotion begins on the Effective Date and ends when the enrolment cap is reached. The Sponsor may extend, shorten, suspend, or terminate the Promotion Period with reasonable notice, subject to applicable law.
4. How to Participate / Qualifying Activity
To participate, an eligible customer must, during the Promotion Period: (a) enrol in the Promotion; (b) deposit $20 in cash and (c) trade at least USD $1,000 in options on Kraken Pro. Trades placed before enrolment do not qualify. There is no free alternative method of entry. This Promotion is an incentive, not a sweepstakes or contest.
5. Reward
On completing the Qualifying Activity, a participant receives a one-off reward paid in BTC. The reward amount is determined by a random draw across the following tiers: USD $5, $10, $25, $50 or $100, and is capped at USD $100. Every qualifying participant receives at least USD $5. The approximate odds per draw are: $5 — 49%; $10 — 43%; $25 — 5%; $50 — 2%; $100 — 1%. The reward applies to the participant’s first qualifying options position only, once per user, on a lifetime basis. Rewards are non-transferable and may not be exchanged, sold, or redeemed for cash except as expressly set out in these Official Rules. The Sponsor reserves the right to substitute a reward of equal or greater value at its sole discretion.
6. Eligibility to Participate
To be eligible, a participant must, at the time of enrolment: (a) be at least 18 years old or the age of majority in their jurisdiction of residence, whichever is greater; (b) be resident in an eligible jurisdiction; (c) hold a Kraken Pro account with options/futures trading enabled; (d) be new to options, with no prior options position; and (e) participate in an individual, non-corporate, non-institutional capacity.
7. Disqualification
The Sponsor may, in its reasonable discretion, disqualify any participant and withhold or claw back any reward where it identifies:
• wash trading, self-funding, self-dealing, or any manufactured or artificial trading activity;
• use of a VPN, proxy, or other means to circumvent eligibility or geographic restrictions;
• use of multiple or duplicate accounts to participate more than once;
• provision of false or misleading information; or
• participation by a person not resident in an eligible jurisdiction, in which case the Sponsor reserves the right to claw back any reward.
8. Reward Distribution
To receive the reward, a participant must, before reward fulfilment, have: (a) a Kraken Pro account in good standing with options/futures trading enabled; and (b) completed the identity verification required to trade options on Kraken Pro, plus any additional verification required by Kraken or applicable law. If these requirements are not met at the time of distribution, the reward may be forfeited or clawed back. Where earned, the BTC reward is credited within 14 days of qualifying.
9. Consents and Approvals
By participating, each participant consents to the collection, processing, and use of their personal data for the administration of this Promotion in accordance with the Kraken Privacy Policy at kraken.com/legal/privacy. Participation constitutes acceptance of these Official Rules.
10. Disclaimers
These materials are for general information purposes only and are not investment or financial product advice or a recommendation or solicitation to buy or sell financial instruments or to engage in any specific trading strategy. The unpredictable nature of the derivatives markets can lead to loss of funds. Trading in derivatives involves significant risk and is not appropriate for all investors. You could lose more than your investment. See the Risk Disclosure Statement to learn about the risks. Tax may be payable on any return and/or on any increase in the value of your investment and you should seek independent advice on your taxation position. Geographic restrictions may apply. The Sponsor is not responsible for any technical, hardware, software, network, or other failure, error, malfunction, or delay in operation or transmission, including any injury or damage to a participant’s or any other person’s device related to or resulting from participating in this Promotion. The Sponsor’s obligations under this Promotion may be suspended or delayed due to events beyond its reasonable control, including platform outages.
11. 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 reward, 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 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. 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. By participating, you agree to those provisions as they apply to your relationship with Kraken. If you are uncertain which Terms of Service apply to you, please visit https://www.kraken.com/legal.
12. Taxes
Each participant is solely responsible for any taxes that may arise in connection with the receipt or use of a reward. Participants should consult their own tax advisers.
13. General Terms
The Sponsor reserves the right to modify, suspend, or terminate this Promotion at any time with reasonable notice, subject to applicable law. This Promotion is void where prohibited by law. Only one reward is available per person and per account. These Official Rules constitute the entire agreement between the participant and the Sponsor in relation to this Promotion and supersede any prior communications. If any provision is held invalid or unenforceable, the remaining provisions remain in full force and effect. The failure of the Sponsor to enforce any provision does not constitute a waiver of that provision.
14. Contact
Questions about this Promotion may be directed to Kraken Support at https://support.kraken.com.