> ## Documentation Index
> Fetch the complete documentation index at: https://docs.calibri.io/llms.txt
> Use this file to discover all available pages before exploring further.
# Terms of Use
> The rules that govern using Calibri — eligibility, custody, how markets settle, fees, and the limits of what Calibri is responsible for.
By opening an account or placing an order on Calibri you agree to these terms.
If you do not agree, do not trade.
The full legal text is published at [calibri.io/hub/terms-of-use](https://calibri.io/hub/terms-of-use). This article covers the same ground in plain language; where the two differ, the published terms govern.
## 1. What Calibri is
Calibri is a **binary prediction-market exchange**. Each market asks one question
with two outcomes, YES and NO. You buy shares in the outcome you believe in;
prices sit between `0.01` and `0.99` and read as probabilities. At resolution the
winning side pays **1.00 USDC per share** and the losing side pays **0**.
Calibri operates the order book and reports outcomes. It does **not** take the
other side of your trades, and it does not hold your money.
## 2. Eligibility
You must:
* be of legal age in your jurisdiction;
* be legally permitted to use a prediction-market exchange where you live;
* open an account for yourself, not on anyone else's behalf;
* complete any identity verification we are required to ask for.
You are responsible for knowing whether trading here is lawful for you. Access
may be restricted by jurisdiction, and an account may be suspended where we are
required to do so or where these terms are breached.
## 3. Your funds are yours
Calibri is **fully self-custodial**. Your USDC sits in a **Gnosis Safe that only
you control**, on-chain — owned by your passkey or your wallet, and by any
additional signing key you choose to add. Calibri is never an owner, never takes
custody, never holds a balance for you, and cannot move your funds, except as set out in
clause 3.1. Every order is a signature you produce; every other transfer out of your Safe is
a transaction you sign.
### 3.1 Deposits from and withdrawals to other networks
(a) **Authorisation.** You expressly authorise Calibri to trigger, on your behalf and
without further signature from you, the bridging through Circle's Cross-Chain Transfer
Protocol (CCTP) of USDC you send to your Safe address on a supported network other than
Polygon.
(b) **Limits.** The bridge module attached to your Safe can transfer such USDC only to the
same Safe address on Polygon, which is owned and controlled solely by you. It cannot
transfer funds to any other address and cannot access any other token or ETH. Calibri
never holds your keys.
(c) **Fees.** Calibri may deduct a service fee from the amount bridged, within the limits
published in [Fees](/concepts/fees) — at most 10 USDC and at most 20% of the amount per
bridge — together with Circle's network fee, if any. These limits are not changed by
paragraph (d).
(d) **Fees above the standard limits.** Where the cost of bridging a deposit exceeds the
limits in paragraph (c), Calibri will charge a higher fee only if you accept it in the app
for that deposit. If you accept:
* the fee is deducted from that deposit, in USDC, before the remainder is bridged, and is
never more than the fee shown to you when you accepted;
* your acceptance applies to that deposit only, and lapses if the bridge is not sent
within one hour of your acceptance, in which case you will be asked again;
* once the bridge transaction is sent, the fee is non-refundable.
If you do not accept, the deposit remains at your Safe address until the cost falls within
the limits in paragraph (c), you send more USDC so that the fee can be offered again, or
you bridge it yourself at zero fee. Your acceptance is countersigned by a dedicated
Calibri key and checked by the bridge module on-chain, which charges exactly the signed
amount. If that key were misused, Calibri could charge a fee up to the full amount of a
deposit it countersigns; the remainder would still reach only your Safe on Polygon.
(e) **Conditions.** Bridging under paragraph (a) is subject to the published minimums and
timing. Any party, including you, may trigger it at zero fee. Assets other than USDC, and
USDC sent on a network that is not supported, are not bridged automatically, and Calibri
is not responsible for them.
(f) **Passkey wallets.** If your Safe is owned by a passkey, the bridge module cannot be
disabled on networks other than Polygon and is the only mechanism able to move USDC there.
(g) **Withdrawals to other networks.** You may withdraw USDC from your Safe to an address
on a supported network other than Polygon. The withdrawal is a transaction you sign, which
Calibri relays: it pays a fee to Calibri and passes the remainder to Circle's CCTP, which
burns it on Polygon and mints it to the address you entered, on the network you chose. That
address is part of the transaction you sign, and Calibri cannot change it. For such a
withdrawal:
* the fee covers the cost of sending and delivering the withdrawal plus a margin, is
subject to the minimum published in [Fees](/concepts/fees), and has no maximum. It is
shown to you before you sign, and by signing the withdrawal you accept it;
* the fee is deducted in USDC on Polygon from the amount you withdraw, before the
remainder is transferred; Circle's network fee, if any, is deducted by Circle from the
amount it mints;
* once the withdrawal transaction is sent, the fee is non-refundable;
* Calibri will deliver the withdrawal on the destination network once Circle has attested
it, typically within 15 to 20 minutes and longer when the network is congested. If the
cost of delivery rises after you sign, Calibri will not charge you more, and will
complete delivery at its own cost no later than six hours after the withdrawal begins
waiting for that reason. Calibri is not responsible for delays caused by Circle or by
the destination network. Anyone, including you, may complete the delivery using
Circle's published attestation;
* Calibri delivers only withdrawals made through the app with the fee it shows. A
transfer sent by other means, or without that fee, is not delivered by Calibri, and you
may deliver it yourself;
* withdrawals to other networks are subject to the published minimums, and are available
only from your Safe, not for any custodial balance. Withdrawals on Polygon do not carry
this fee.
See [Deposits from other networks](/non-custodial/deposits-from-other-networks) and
[Withdrawals to other networks](/non-custodial/withdrawals-to-other-networks).
The consequences of that are yours as well:
**Calibri cannot recover your wallet.** If you lose your passkey, your device, or your wallet's keys, and you have no backup, your funds are unreachable — by you and by us. Nobody can reset it. See [Your wallet options](/non-custodial/wallets).
You are responsible for keeping your credentials, passkeys, API keys, and
[session keys](/non-custodial/session-keys) secure, and for any activity
conducted with them.
## 4. Trading
* Orders are matched by price and time. Depending on the two orders, a match creates a new YES/NO **contract** pair (a YES buyer with a NO buyer), transfers existing contracts from a seller to a buyer, or closes out a YES/NO pair (a YES seller with a NO seller).
* You may cancel the unmatched remainder of a resting order at any time. A matched trade cannot be cancelled or reversed.
* You may sell contracts you hold before the market closes by placing a sell order. A sell fills only if another trader takes your price; Calibri does not guarantee a buyer or any exit price. Contracts you have not sold are held to resolution.
* Placing a buy order locks its collateral **and** a taker-fee reserve; unused reserve is released. See [Fees](/concepts/fees). Placing a sell order locks the contracts it offers until it fills or you cancel it; no fee is reserved, and when a sell takes liquidity its taker fee is deducted from the sale proceeds.
* Markets stop accepting orders at their stated close time.
* **Market prices are not advice.** A price is what other people are willing to pay. It is not a forecast Calibri endorses, and nothing on the platform is financial advice.
You may lose the entire amount you stake. Only trade what you can afford to lose.
## 5. Resolution and finality
How each market is decided — and the specific data source it uses — is published
on the market before you can trade it. See
[How markets are resolved](/concepts/resolution-sources).
The rules that matter most:
* **The source named on the market decides it.** For crypto price markets that is Coinbase's own published data for the stated interval, read directly.
* **Settlement is final.** A settled market is terminal. If the source later restates its data, or there was an outage, an unusual print, or any other issue at or around the deciding moment, **the settlement stands.** Calibri does not retroactively correct a settled market.
* **Ties on up/down markets resolve up.** An interval closing exactly where it opened resolves YES.
* **Manual settlements go through two-person review**, with escalation to a senior adjudicator where reviewers disagree.
* **A market that cannot be resolved fairly is voided.** A void pays 0.50 per share on both outcomes and refunds the taker fee. It is not a refund of the price paid.
Resolution is reported **on-chain**, and the escalation ladder that follows it is
permissionless: if Calibri fails to report, anyone can escalate the question, and
past a hard deadline anyone can force a 50/50 void so the 0.50 per share is
redeemable directly from the contracts. See [Market resolution](/non-custodial/resolution).
## 6. Winnings must be claimed
Resolution makes your winning shares **redeemable**. It does **not** pay you
automatically. You claim them yourself — the claim is gasless, but it is yours to
make. See [Redeeming winnings](/non-custodial/redeeming-winnings).
## 7. Fees
Calibri charges a **single taker fee**, once, when your order fills. Makers pay
nothing. There is no settlement fee and no redemption fee — a winning share pays
the full 1.00 USDC.
The fee is `rate × volume × P × (1 − P)`, where the rate depends on the market's
category. The applicable rate is shown before you confirm an order, and is bound
into the order you sign, so you always sign for the fee you will pay. See
[Fees](/concepts/fees).
Rates may change. Changes apply to future trades, never retroactively to trades
already filled.
USDC deposited on a network other than Polygon may carry a bridge fee, and a withdrawal to
a network other than Polygon carries a withdrawal fee, as set out in clause 3.1.
Withdrawals on Polygon carry no fee.
## 8. Fair use
Do not:
* manipulate prices, spoof the book, or trade to move a market rather than to take a position;
* use multiple accounts to evade limits, gain rewards, or trade against yourself;
* abuse the rewards or referral programmes, including self-referral;
* trade on a market you have non-public information about the outcome of;
* attack, overload, or attempt to circumvent the platform's technical controls.
Breaching this section may result in suspension, forfeiture of pending rewards,
and reporting where we are legally required to.
## 9. Availability
We aim to keep the platform running continuously, but we do not guarantee it.
Maintenance, upstream outages, and network congestion happen. Calibri is not
liable for losses arising from downtime, delayed order entry, or a data feed
being unavailable.
**Your funds remain withdrawable regardless.** They sit in your own Safe, so an
outage on our side does not lock them up, and the on-chain resolution ladder
guarantees a market ultimately settles or refunds even if Calibri stops
operating entirely.
## 10. API and automated access
API access is governed by the same terms. You are responsible for what your
integration does. Rate limits apply, and keys may be revoked where a client
degrades the service for others. See the
[API overview](/api-reference/introduction).
## 11. Changes to these terms
We may update these terms. Material changes will be announced, and continuing to
trade after they take effect is acceptance. The published legal terms carry the
authoritative version and date.
## 12. Your data
What we collect, why, and how long we keep it is set out in the
[Privacy policy](/privacy-policy), and in full at
[calibri.io/hub/privacy-policy](https://calibri.io/hub/privacy-policy).
## 13. Contact
Questions about these terms: [support.calibri.io/contact](https://support.calibri.io/contact).
## Related
The specific data source behind each market type.
The on-chain escalation ladder.
What trading costs.
Why Calibri cannot hold your funds.
What data we collect and how it is handled.
This documentation is built and hosted on [Mintlify](https://mintlify.com), a developer documentation platform.