Official Rules
The terms governing the ProjectX prize promotion — eligibility, entry, odds and how a prize is delivered.
1. Sponsor
ProjectX
PO Box 101 Puerto Rico
contact@projectx.io
2. No purchase necessary
No purchase, deposit, payment, or transfer of value is necessary to enter or win. A deposit does not improve the odds of winning per unit of draw weight. Making a deposit is not consideration: deposited principal is not spent, is not wagered, is not transferred to the sponsor, and remains withdrawable by the depositor at any time.
3. How prizes are funded
Deposited SUI is delegated to a Sui network validator. The staking rewards accrued on the aggregate delegation, less the protocol fee described in section 5, are converted to the prize asset and awarded in full to a single entry per epoch. No part of any participant's principal funds any prize.
4. Winner selection
The winner is selected by the smart contract using the Sui network's on-chain randomness beacon, weighted in proportion to each entry's draw weight. Selection, the resulting weight, and the payout are recorded on-chain and are publicly verifiable. A deposit becomes eligible to win only after it has been held through one complete epoch: an entry made during a given epoch is first eligible for the draw two epoch boundaries later, so a deposit made shortly before a draw cannot win the epoch it did not fund. If no eligible entry is selected, the prize rolls into the following epoch.
5. Protocol fees
The protocol retains a percentage of gross staking yield, and applies a conversion spread when exchanging yield for the prize asset. Both are applied to yield only, are recorded on-chain at the time they are taken, and are displayed live on the dashboard alongside the independent oracle price.
A participant who withdraws before the maturity period ends is additionally charged an early-withdrawal fee, calculated as a published percentage of that participant's proportional share of the prize pool accrued at that time. This fee is deducted from the prize pool, not from the participant's deposit: a participant may withdraw at any time, for any reason, and always receives 100% of the amount they deposited. No fee of any kind may be applied to a deposit.
6. Eligibility
Entry is open to legal residents aged 18 or older, except where prohibited. Residents of New York, Washington, Hawaii, Nevada and Florida are not eligible. Persons in jurisdictions subject to comprehensive sanctions are not eligible. Void where prohibited.
7. Taxes
Winners are solely responsible for all taxes arising from a prize. The sponsor may be required to report prize values and to collect taxpayer information before a prize is released.
These rules are a good-faith description of how the deployed contract behaves. They have not been reviewed by counsel as part of this codebase, and they must be before the promotion is offered. In the event of any conflict, the behaviour of the deployed smart contract governs the mechanics, and applicable law governs the promotion.
No purchase necessary to enter or win
A deposit is not a purchase, a wager, or consideration for entry. Deposited principal remains withdrawable at any time and is never at risk from the prize mechanism. Prizes are funded solely from pooled staking yield. A free Alternative Method of Entry is available and confers the same odds per entry as a deposit-based entry.
Void where prohibited. Not open to residents of New York, Washington, Hawaii, Nevada or Florida, or to persons in jurisdictions subject to comprehensive sanctions. Entrants must be 18 or older. Odds of winning depend on the number of entries and the principal-weighted share each entry represents.