Official Rules
SHX Trading Challenge 2026
1. Sponsor
This promotion (“Promotion”) is sponsored by Payward, Inc., known as Kraken (“Sponsor” or “Kraken”), located at 1209 Orange St., Wilmington, DE 19801.
By participating in the Promotion, you agree to these Official Rules and the Kraken.com Terms of Service, which together form a binding contract between you and the Sponsor. Please read them carefully before entering.
2. Overview
The SHX Trading Challenge 2026 is a promotional incentive designed to reward eligible Kraken users for executing SHX/USD spot trades on Kraken Pro and SHX spot trades (buy, sell, or convert) on Kraken during the Promotion Period
This Promotion is not a sweepstakes or game of chance. No random drawing or alternative method of entry applies. Rewards are determined solely by participants' SHX trading volume rank relative to all other eligible participants, as described below
3. Eligible Areas
The Promotion is open to eligible Kraken customers residing in jurisdictions where Kraken operates, excluding the United Kingdom and any other location where trading incentives are restricted or prohibited by law.
4. Eligibility
To participate, you must:
Hold a verified Kraken account in good standing;
Have completed account verification;
Reside in an Eligible Area listed above; and
Agree to these Official Rules and the Kraken Terms of Service.
Kraken reserves the right to verify all eligibility requirements and may disqualify participants found in violation of these Rules or applicable laws.
5. Promotion Period
The Promotion begins at 11:00 UTC on March 18, 2026 and ends at 23:59 UTC on April 1, 2026.
All qualifying trades must be executed during this period to be eligible.
6. How to Participate
From the Kraken App
- Download the latest version of the Kraken app.
- Tap your profile picture in the top-left corner of the Home screen.
- Tap Offers.
- Tap SHX Trading Challenge.
- Tap Enroll Now.
From the Kraken Pro App
- Download the latest version of the Kraken Pro app.
- Tap More in the navigation bar.
- Tap Promotions.
- Tap SHX Trading Challenge.
- Tap Enroll Now.
To enter and qualify for a share of 20,000,000 SHX, Eligible users must trade a minimum of USD $100 notional value during the Promotion Period. Qualifying trades are SHX/USD spot trades on Kraken Pro and SHX trades on Kraken (buy, sell, or convert).
Margin trades qualify only where spot margin trading is permitted in the participant’s jurisdiction.
Each participant's Reward is determined by their SHX trading volume rank relative to all eligible participants during the Promotion Period. Rewards are allocated as follows:
Rank 1 · 2,000,000 SHX
Ranks 2–3 · 1,000,000 SHX each
Ranks 4–10 · 400,000 SHX each
Ranks 11–20 · 200,000 SHX each
Ranks 21–100 · 50,000 SHX each
Rank 101+ · 7,200,000 SHX shared proportionally
Trading volume will be calculated based on the executed notional value of completed SHX-USD spot market transactions during the Promotion Period. Cancelled, reversed, self-matching, or otherwise invalid transactions may be excluded at Kraken's sole discretion. This is a rank-based reward structure. No element of chance is involved.
Trading activity will be measured using valid, completed SHX/USD spot trades on Kraken Pro and SHX spot trades (buy, sell, or convert) on Kraken executed during the Promotion Period.
7. Prohibited Conduct
The following behaviors will result in immediate disqualification and forfeiture of eligibility:
Wash trades, self-dealing, or coordinated trading among participants;
Any form of manipulative, fraudulent, or abusive trading activity;
Use of multiple accounts, VPN circumvention, or any method designed to artificially inflate volume;
Violation of the Kraken Terms of Service or these Rules.
Kraken reserves the right, in its sole discretion, to determine whether conduct is prohibited and to disqualify participants accordingly. Kraken’s determinations are final and binding.
8. Rewards
Reward Type: Fixed per tier, based on the participant's SHX trading volume rank among all eligible participants, subject to meeting the minimum trade volume requirement. Reward Calculation: Determined by the participant's rank tier as set out in Section 6 above.
Reward Calculation: Determined using the formula above.
Reward Distribution: Rewards will be credited to eligible users’ Kraken accounts within 30 days after the Promotion Period ends.
Number of Prizes: Variable, dependent on the number of qualifying participants.
Transferability: Rewards are non-transferable or non-assignable prior to crediting to the participant’s Kraken account and are not redeemable for cash.
Kraken reserves the right to substitute a reward of equal or greater value if necessary.
9. Disqualification and Enforcement
Kraken may, at its discretion, withhold or revoke any reward, or disqualify a participant, if:
Eligibility criteria are not met;
Fraud, manipulation, or gaming behavior is detected; or
The participant’s account is closed, suspended, or restricted during or after the Promotion Period.
All Kraken determinations regarding eligibility, calculations, and rule violations are final and non-appealable.
Kraken reserves the right to reverse, reclaim, or adjust any Reward credited if prohibited conduct or ineligibility is identified after distribution.
10. Taxes
U.S. participants receiving total rewards valued at $600 USD or more will be issued IRS Form 1099 and must complete all required tax forms prior to receipt.
Participants outside the U.S. are responsible for reporting and paying any taxes or duties associated with their rewards in accordance with local law.
Kraken does not provide tax advice.Rewards will be valued at fair market value at the time of crediting for tax reporting purposes.
11. Privacy
By participating, you consent to the collection and processing of personal information for purposes of administering the Promotion and fulfilling rewards.
Personal information will be processed in accordance with the Kraken Privacy Policy and may be shared with service providers as needed to comply with applicable laws, regulations, and reporting obligations.
12. Limitation of Liability
To the maximum extent permitted by law, Kraken and its affiliates, officers, employees, and agents shall not be liable for any loss, damage, injury, or claim arising from participation in this Promotion or receipt of any reward.
Kraken is not responsible for system errors, outages, data loss, technical malfunctions, or force majeure events that may affect participation or reward distribution.
13. Dispute Resolution and Governing Law
Any dispute arising under or in connection with this Promotion (whether contractual or otherwise) will be governed by and construed in accordance with the laws of England and Wales, without reference to conflict of law principles.
By participating, you agree that any dispute, controversy, or claim arising out of or relating to this Promotion shall be determined by confidential binding arbitration in London, England, administered under the LCIA Arbitration Rules. Judgment on the arbitral award may be entered in any court of competent jurisdiction.
Notwithstanding the foregoing, Kraken may seek injunctive or equitable relief in any court of competent jurisdiction.
14. Force Majeure
Kraken is not responsible for any delay, suspension, or cancellation of this Promotion caused by acts of God, natural disasters, epidemic, government order, labor dispute, war, terrorism, or any other event beyond its reasonable control.
15. General Terms
Kraken reserves the right to modify, suspend, or terminate the Promotion at any time, for any reason, without prior notice.
Participation constitutes acceptance of these Official Rules.
Failure to enforce any term does not constitute a waiver.
If any provision of these Rules is held invalid or unenforceable, the remaining provisions remain in full force and effect.
In the event of conflict between these Rules and any marketing materials, these Rules shall control.