Terms and Conditions

Terms last updated on 20 April 2022.

Summary

This summary is an overview of the key terms that apply to your use of our website and services. Find the complete Terms of Service below for more information about how our services work. Please take note that we refer to our website where you can access our services as “Demex”.

Our Services

Demex provides users the service of trading sophisticated financial instruments such as futures, bonds and options. Built on Carbon, a custom Layer-2 blockchain solution, Demex is designed for speed, scalability, and security all while providing an intuitive and seamless user experience.

Demex is run entirely permissionlessly, allowing anyone to list new markets, make changes to market parameters and further develop the platform among other possibilities. This will ensure that Demex remains totally decentralized and censorship-resistant, preventing the risk of potential illicit activities to take place when authority is concentrated.

The range of services available to you will depend in part upon the country of which you are a resident and from which you access Demex.

Eligibility and Acceptable Use

Anyone who creates an account can use Demex. However, there are certain things you cannot do when using Demex, such as engage in illegal activities, lie, or do anything that would cause damage to our services or systems. Please read the acceptable use section for more details.

Restricted Territory

Restricted territories are inclusive of the following countries and/or states:

Afghanistan, Angola, Central African Republic, China (Mainland), Côte d'Ivoire, Crimea, Cuba, Democratic Republic of Congo, Ethiopia, Guinea-Bissau, Haiti, Iran, Kuwait, Lebanon, Liberia, Libya, Mali, North Korea, Rwanda, Sevastopol, Sierra Leone, Singapore, Somalia, South Africa, Sudan, South Sudan, Syria, Quebec (Canada), U.S, Yemen, Zimbabwe.

Trading Risks

Cryptocurrencies and digital tokens are subject to high market volatility and risk, and are out of Demex's control and sphere of influence. Please apply your own due diligence before buying or selling cryptocurrencies and digital tokens. Demex shall not be liable for any losses, damages, costs, or expenses (including, but not limited to, loss of profits, loss of use, direct, indirect, incidental or consequential damages) from participating in trading activities or other crypto market-related activities. Please don't use Demex if you do not understand these risks and enter into trades only when you understand the trading option you are using, the characteristics of the digital asset you intend to trade, and the potential financial risk of loss trading them entails.

Other Important Legal Terms

There are important legal terms provided below in the complete Terms of Service, including your indemnification responsibilities, our limitation of liability and warranty disclaimers, and your agreement to arbitrate most disputes. Please take the time to read these terms carefully. You can always contact us through support if you have any questions at [email protected].

Notice

Not an offer None of the information contained here constitutes an offer (or solicitation of an offer) to buy or sell any security, currency, product, cryptocurrency, digital token or financial instrument, to make any investment, or to participate in any particular trading strategy.

Forward looking statements The information contained here may contain forward looking statements. These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or result expressed or implied by such forward-looking statements.

Not financial advice The information and publications are not intended to be and do not constitute financial advice, investment advice, trading advice or any other advice or recommendation of any sort offered or endorsed by Demex. Demex does not take into account your personal investment objectives, specific investment goals, specific needs or financial situation and makes no representation and assumes no liability to the accuracy or completeness of the information provided here. Demex also does not warrant that such information and publications are accurate, up to date or applicable to the circumstances of any particular case.

Complete Terms of Service

These Terms of Service and any terms incorporated herein ("Terms") apply to your access to and use of the website provided by Demex (collectively, "Demex”, "we", or "us") including but not limited to trading, staking, liquidity pool, order book, APIs, matching engine and all other services provided by Demex as described in these Terms (collectively, our "Services").

1. Key Definitions

Capitalized terms not otherwise defined in these Terms will have the following meaning:

• "Demex Account" means a user account opened through or accessible via Demex by connecting through the user’s own digital asset wallets or encrypted key.

• "Digital Asset" means ETH, BUSD, and other digital assets that may be purchased, sold or traded via our Services.

• "Digital Asset Wallet" means any Digital Asset address or account owned, controlled or operated by you that is maintained outside of the Services, and is not owned, controlled or operated by Demex.

2. Eligibility

Demex may not make the Services available in all markets and jurisdictions, and may restrict or prohibit use of the Services from certain U.S. states or foreign jurisdictions ("Restricted Locations"). If you are registering to use the Services on behalf of a legal entity, you represent and warrant that (i) such legal entity is duly organized and validly existing under the applicable laws of the jurisdiction of its organization; and (ii) you are duly authorized by such legal entity to act on its behalf.

You further represent and warrant that you: (a) are of legal age to form a binding contract (at least 18 years old in the U.S.); (b) have not previously been suspended or removed from using our Services; (c) have full power and authority to enter into this agreement and in doing so will not violate any other agreement to which you are a party; (d) are not located in, under the control of, or a national or resident of (i) any Restricted Locations, or (ii) any country to which the United States has embargoed goods or services; (e) are not identified as a "Specially Designated National;" (f) are not placed on the Commerce Department’s Denied Persons List; (g) will not use our Services if any applicable laws in your country prohibit you from doing so in accordance with these Terms; and (h) meet all eligibility requirements for the Services at the time of using any Services.

Demex may condition your access or continued access to certain Services (or features of those Services), such as by imposing eligibility requirements. Demex will keep you informed of these on its website. Demex may require, on an ongoing basis, that you demonstrate to us that you continue to meet these requirements. Demex’s decisions with respect to eligibility are final.

3. Demex Account

Demex Account information and security. In order to engage in any trades via the Services, you must either a) create a Demex Account and provide any requested information, or b) create an account by connecting to your digital asset accounts.

When you create a Demex Account, you agree to: (a) create a strong password that you do not use for any other website or online service; (b) provide accurate and truthful information; (c) maintain and promptly update your Demex Account information; (d) maintain the security of your Demex Account by protecting your password and restricting access to your Demex Account; (e) promptly notify us if you discover or otherwise suspect any security breaches related to your Demex Account; and (f) take responsibility for all activities that occur under your Demex Account and accept all risks of any authorized or unauthorized access to your Demex Account, to the maximum extent permitted by law.

If your funds are deposited or withdrawn into the wrong address, Demex is not responsible for any losses nor does Demex guarantee the possibility of recovering lost funds.

4. Restricted Locations

Residents or inhabitants of the following countries are not permitted to use the Services provided by Demex: United States of America, Mainland China, Singapore and countries sanctioned by the United Nations Article 41 : Angola, Central African Republic, Côte d'Ivoire, Democratic Republic of Congo, Ethiopia, Guinea-Bissau, Liberia, Libya, Mali, Rwanda, Sierra Leone, Somalia, South Africa, Zimbabwe, Sudan, South Sudan, Haiti, Afghanistan, North Korea, Iran, Kuwait, Lebanon, Yemen.

5. General Obligations

This section applies to: (i) all trades completed via the Services, (ii) your purchase and/or sale of Digital Assets directly from Demex via the Services, and (iii) any transaction in which you load Funds into your Demex Account from your External Account or transfer Funds from your Demex Account into an External Account.

1. Conditions and Restrictions. We may, at any time and in our sole discretion, refuse any trade submitted via the Services, impose limits on the trade amount permitted via the Services or impose any other conditions or restrictions upon your use of the Services for funding your Demex Account or for trading without prior notice. For example, we may limit the number of open orders that you may establish via the Services or we may restrict trades from certain locations.

2. Accuracy of Information. You must provide any information required when creating a Demex Account or when prompted by any screen displayed within the Services. You represent and warrant that any information you provide via the Services is accurate and complete.

3. Cancellations. You may only cancel an order initiated via the Services if such cancellation occurs before Payward executes the transaction. Once your order has been executed, you may not change, withdraw or cancel your authorization to complete such a transaction. If an order has been partially filled, you may cancel the unfilled remainder unless the order relates to a market trade. We reserve the right to refuse any cancellation request associated with a market order once you have submitted such order. In contrast to exchange orders, all trades are irreversible once initiated. While we may, at our sole discretion, reverse a trade under certain extraordinary conditions, a customer does not have a right to a reversal of a trade.

4. Insufficient Funds. If you have an insufficient amount of Funds in your Demex Account to complete an order via the Services, we may cancel the entire order or may fulfill a partial order using the amount of Funds currently available in your Demex Account, less any fees owed to Payward in connection with our execution of the trade (as described in Section 10).

6. Risk Disclosure

You understand that an investment or trade in any security or cryptocurrency is subject to a number of risks, and that discussions of any security or cryptocurrency published on Demex may not contain a list or description of relevant risk factors. You understand that markets change continuously, so any information, content, or other material provided on or through the Site or Platform may not be complete or current, or may be superseded by more current information. You rely on such information at your own risk.

Demex is a platform offering Services to buy trading Products for your own account and at your own risk. You acknowledge, agree and accept that trading Products entails a high financial risk. You have the necessary experience and knowledge to understand the risks involved in our Products, in particular derivatives Products. You should carefully assess whether your financial situation and tolerance for risk is suitable for buying, selling or trading cryptocurrency and our Products. You may lose all of the funds in your Account.

7. Acceptable Use

We may, at any time and at our sole discretion, limit, suspend or terminate, or issue a warning to you regarding, the Platform or the Demex Account, including terminating the Account (or certain functionalities thereof such as uploading, receiving, sending and/or withdrawing Digital Assets), if:(a)we believe it is necessary or desirable to protect the security of the Account;(b)if any transactions are made which we in our sole discretion deems to be (a) made in breach of this Agreement or in breach of the security requirements of the Account; or (b) suspicious, unauthorized or fraudulent, including without limitation in relation to money laundering, terrorism financing, fraud or other illegal activities;(c)if we become aware or suspect that any Digital Assets or funds held in your Account may be associated with criminal proceeds or otherwise are not lawfully possessed by you