Market Dates:

• Market Period: From market publication until December 29, 2025, at 11:59 PM UTC.
• Market Close: The market closes on December 29, 2025, at 11:59 PM UTC.
• Observation Period: From market publication until the December 31, 2025, daily candle is completed.
• Resolution Deadline: December 31, 2025, at 11:59 PM UTC or earlier if the outcome is determined.
• Market Target: $2,000,000,000

Yes/No Criteria:

• Resolves to "Yes" if the total crypto liquidations (including both short and long positions) reach the Market Target in any single day during the Observation Period.
• Resolves to "No" if no single day reaches the Market Target in total liquidations during the Observation Period.

Resolution Details:

• The market will be resolved using Coinglass's “Total Liquidations Chart” data, specifically looking at the daily candle values.
• The total liquidation amount is calculated as the sum of both short and long liquidations for each day.

Cancellation (Invalidity) Conditions:

• Coinglass data becomes unavailable or unreliable during the Observation Period.
• Major changes to the liquidation tracking methodology occur.
• Any circumstance that makes accurate resolution impossible based on the designated resolution source.

In the event of cancellation, participants may claim their stakes at the market value of their open positions at the time of cancellation. This could result in a profit or a loss, depending on the price of their outstanding shares.