Terms & Conditions

Terms of use

Last Updated: 6th Sept 2024

These Terms of Use ("Terms") govern your access to and use of the website-hosted user interface (the "Interface") provided by Defx ("Company"), which serves as a frontend software portal to the Defx L1 protocol, associated software and tools (the "Protocol"). By accessing or using the Interface, you agree to be bound by these Terms. If you do not agree to these Terms, you must not access or use the Interface or the Protocol.

1. Use of the Interface and Protocol

The Interface is made available by the Company. All transactions conducted on the Protocol are run as part of a permissionless layer-1 blockchain. The Protocol is accessible by any user, entity, or third party, which may include a number of third-party web and mobile user interfaces. Your use of the Interface and Protocol is entirely at your own risk.

2. No Warranties

The Interface is provided on an "AS IS" and "AS AVAILABLE" basis without warranties of any kind, either express or implied, including but not limited to warranties of merchantability, title, fitness for a particular purpose, and non-infringement. You assume all risks associated with using the Interface, digital assets, and both centralized and decentralized systems in general.

3. Risks and Assumption of Risk

Using digital assets is inherently risky. Risks include, but are not limited to:

• Digital assets are highly volatile.

• Using digital assets involves risks such as unauthorized acts of third parties.

• You may not have ready access to your assets.

• You may lose some or all of your tokens or other assets.

You expressly agree to assume ALL risks associated with accessing and using the Interface and interacting with the Protocol, including but not limited to those arising from third-party actions, software failures, blockchain failures, market volatility, and regulatory changes. You acknowledge that you have no recourse against the Company or any other party for any losses incurred as a result of using the Interface or interacting with the Protocol.

4. Data Collection

The Interface does not collect any personal data, and your interaction with the Protocol will solely be through your public digital wallet address. Any personal or other data you make available in connection with the Protocol may not be private or secure.

5. Prohibited Activities

You agree not to engage in, or attempt to engage in, any prohibited activity in relation to your access and use of the Interface, including but not limited to:

• Intellectual Property Infringement: Activity that infringes on or violates any copyright, trademark, service mark, patent, right of publicity, right of privacy, or other proprietary or intellectual property rights under the law.

• Cyberattacks: Activity that seeks to interfere with or compromise the integrity, security, or proper functioning of any computer, server, network, personal device, or other information technology system, including (but not limited to) the deployment of viruses and denial of service attacks.

• Fraud and Misrepresentation: Activity that seeks to defraud us or any other person or entity, including (but not limited to) providing any false, inaccurate, or misleading information in order to unlawfully obtain the property of another.

• Market Manipulation: Activity that violates any applicable law, rule, or regulation concerning the integrity of trading markets, including (but not limited to) the manipulative tactics commonly known as spoofing and wash trading.

• Any Other Unlawful Conduct: Activity that violates any applicable law, rule, or regulation.

6. No Professional Advice

All information provided by the Interface is for informational purposes only and should not be construed as professional advice. You should seek independent professional advice before making any financial, legal, or other decisions involving the Interface.

7. Additional Programs

The Company may offer certain programs, special offers, challenges, bonuses, or other promotions. The terms and conditions applicable to any such offers will be determined by the Company and communicated to participants. These terms may differ from or be in addition to these Terms of Use.

8. Limitations, Restrictions, and Other Terms

• The Company reserves the right to suspend or terminate your participation in any feature of the Interface without notice, including if it determines or suspects that your use of the Interface is unauthorized, deceptive, fraudulent, unlawful, or intentionally subverts the purposes of the Interface.

• The accumulation of points or other promotional rewards has no cash value.

• You are responsible for paying all transaction fees associated with claiming any on-chain asset, including any token made available on the Protocol. "Transaction Fees" means the fees required to be paid to execute a transaction on the Protocol, sometimes known as "gas fees."

• Transactions processed by the blockchain are irreversible. You acknowledge that any transaction you initiate by connecting your wallet to the Protocol using the Interface may be irrevocable.

• The Company is not responsible for any problems or technical malfunction of any telephone, Internet, or blockchain network or lines, online systems, servers, providers, computer equipment, software, or messaging platform, or as a result of technical problems or traffic congestion on the Internet, any website, or any application, or any combination thereof, including, without limitation, any resulting error in computing qualifying actions or any unavailability of Interface features, or any injury or damage to any participant's or any other person's computer or mobile device related to or resulting from participation in features available through the Interface.

• If, for any reason, the Interface is not capable of running as planned, including due to errors of any kind or nature, infection by computer viruses, bugs, tampering, unauthorized intervention, fraud, technical failures, or any other causes beyond the control of the Company which corrupt or affect the administration, security, fairness, integrity, or proper conduct of the Interface features, the Company reserves the right in its sole discretion to cancel, terminate, modify, or suspend the Interface features or otherwise respond to the circumstances as the Company deems appropriate.

9. Changes to the Interface and Terms

The Company reserves the right to change, update, or discontinue any portion of the Interface or these Terms at any time without notice. Changes will be effective immediately upon posting. Continued use of the Interface constitutes acceptance of such changes. The Company will update the "Last Updated" date at the beginning of these Terms when changes are made.

10. Restricted Regions

Access to the Defx website and services are not offered to persons or entities who reside in, are citizens of, are located in, are incorporated in, or have a registered office in one of the Restricted Territories. Users attempting to access the Interface from a Restricted Territory will immediately be shown a prompt directing them to these Terms and blocking their access to the website and services. The current list of Restricted Territories includes:

• Belarus

• Cuba

• Iran

• North Korea

• Russia

• Syria

• Ukraine (Crimea, Donetsk, and Luhansk Regions)

• United States of America

11. Release of Claims

You expressly agree to assume all risks in connection with your use of the Interface and interaction with the Protocol, and release the Company and its affiliates from any and all liability arising from such use.

12. Indemnity

You agree to indemnify, defend, and hold harmless the Company and its affiliates, officers, directors, employees, and agents from and against any and all claims, liabilities, damages, losses, costs, expenses, or fees (including reasonable attorneys' fees) arising from or relating to:

a) Your use of the Interface; b) Your violation of these Terms; c) Your violation of any rights of any other person or entity; d) Any content or information you submit, post, or transmit through the Interface; e) Your interaction with the Protocol; or f) Any third party's access to the Interface using your account or credentials.

13. Limitation of Liability

To the maximum extent permitted by applicable law, in no event shall the Company or its affiliates be liable for any indirect, punitive, incidental, special, consequential, or exemplary damages, including without limitation damages for loss of profits, goodwill, use, data or other intangible losses, arising out of or relating to your use of the Interface or interaction with the Protocol. The total liability of the Company, whether in contract, warranty, tort (including negligence, whether active, passive or imputed), product liability, strict liability or other theory, arising out of or relating to the use of or inability to use the Interface shall be limited to the amount you paid to use the Interface, or $100.00, whichever is greater.

14. Governing Law and Dispute Resolution

These Terms are governed by and construed in accordance with the laws of the British Virgin Islands (BVI), without regard to its conflict of law provisions. Any dispute arising out of or in connection with these Terms, including any question regarding its existence, validity, or termination, shall be referred to and finally resolved by arbitration under the Rules of Arbitration of the International Chamber of Commerce. The seat, or legal place, of arbitration shall be the British Virgin Islands. The language to be used in the arbitral proceedings shall be English. The governing law of this arbitration agreement shall be the substantive law of the British Virgin Islands.

15. Class Action Waiver

You agree that any arbitration or proceeding shall be limited to the dispute between us and you individually. To the fullest extent permitted by law, (i) no arbitration or proceeding shall be joined with any other; (ii) there is no right or authority for any dispute to be arbitrated or resolved on a class action basis or to utilize class action procedures; and (iii) there is no right or authority for any dispute to be brought in a purported representative capacity on behalf of the general public or any other persons. YOU AGREE THAT YOU MAY BRING CLAIMS AGAINST US ONLY IN YOUR INDIVIDUAL CAPACITY AND NOT AS A PLAINTIFF OR CLASS MEMBER IN ANY PURPORTED CLASS OR REPRESENTATIVE PROCEEDING.

16. User Obligations and Responsibilities

You agree to comply with all applicable laws, regulations, and rules in connection with your use of the Interface and Protocol. You are responsible for ensuring that your use of the Interface does not violate any applicable law or regulation.

17. Distinction between Interface and Protocol

You acknowledge and understand that the Interface and the Protocol are separate and distinct. The Interface is a frontend software portal and software services built on top of or alongside the protocol provided by the Company, while the Protocol is the underlying blockchain system. The Company's responsibilities and potential liabilities are limited to the Interface, and the Company makes no warranties or representations regarding the Protocol itself.

By using the Interface, you acknowledge that you have read, understood, and agree to be bound by these Terms of Use.