PREAMBLE
The WOO X Swap is a digital asset swap service available within the WOO X platform (the “Platform”), allowing users to initiate and execute a request for quote (RFQ) for a specific type and quantity of Digital Assets (the “Services”).
1. General Terms
(1) These Terms, as updated from time to time and supplemented by any other guidelines, rules, instructions, materials and official communication on the Platform constitute an agreement between you and WOOTECH Limited and apply to your use of the Services.
(2) By using the Services, you acknowledge that you have read, understood and accepted the Terms and acknowledge that you will be bound by and will comply with the Terms. If you do not understand and accept the Terms in their entirety, you cannot participate in the Services. You are deemed to have read, understood and accepted the Terms by clicking the consent button prior to your first use of the Services.
(3) The generally applicable WOO X Terms of Service and product-specific terms shall apply accordingly. In case of conflict between such terms and these Terms, these Terms shall prevail.
2. Definitions
For the purposes of these Terms, the following words shall have the following definitions:
“Participating User”, “you”, “your” – a registered and KYC-ed user of the Platform (minimum Level 1 KYC unless indicated otherwise) that is to accept these Terms to participate in and use the Services.
“WOOTECH Limited”, “we”, “us”, “our” – WOOTECH Limited.
“Terms” – these terms of service, along with applicable general terms they incorporate, as updated from time to time and supplemented by any other guidelines, rules, instructions, materials and official communication on the Platform.
“WOO X Terms of Service” – the general terms of service of the Platform, which can be accessed on the Platform’s website.
“Digital Assets” – Digital Assets as described in the WOO X Terms of Service.
“Transaction” – transaction of the Participating User made in the Services.
“Request” – a request for quote in the Services, which is made by the Participating User by inputting the amount of the desired Digital Asset.
“Quotation” - an estimated total price for a given amount of the desired Digital Asset provided to the Participating User at his Request.
3. Assumption of Risks
Please be advised that by using the Services, you accept the following associated risks:
(1) The Services are commenced at the Participating User’s own, exclusive initiative. Before engaging in the Services, you agree to carefully assess your financial situation, all the necessary risks, and to always do your own research.
(2) We cannot guarantee that if you accept the Quotation, the Transaction will be carried out at the price from the Quotation. Since the prices of the Digital Assets are subject to fluctuations, the Transaction may be carried out at a price different from the price quoted. However, the final price at which the Transaction is carried out will correspond to the current market price at the time of the Transaction.
(3) We will make our best efforts to reach the indicated Quotation but we cannot guarantee it. Similarly, we cannot guarantee that the Transaction will ultimately return the Digital Asset amount indicated in the Quotation.
(4) All Quotations are provided on an “as is” and “as available” basis, with no further promises made by us regarding the accuracy of the information or the availability of Services. We are not liable to compensate you for any price differences between the Quotation and the Digital Assets price at which the Transaction is carried out.
(5) Past performance of any Digital Asset is not an indicator of future results.
(6) Digital Assets in general are subject to additional risks related to: high price volatility, lack of regulation and rapidly changing regulatory environment, improper methods of management or operation of Digital Asset projects, forks, rollbacks, exploits, hacks or network attacks.
4. General Rules for Swap
(1) The Services may provide you with an interface displaying your chosen Digital Asset pair, its price history, balances, the Quotation and any additional information as amended.
(2) When you initiate a Request, we provide you with the Quotation within the Service. By pressing Buy/Sell after making the Request, you carry out the Transaction. We will make our best efforts to carry out the Transaction at the Quotation price but we cannot guarantee it.
(3) There is no guarantee that the Quotation will ultimately return the Digital Asset amount indicated in the Quotation. This can occur due to changes in market conditions, changes in market depth and time-delayed execution of system instructions. Therefore, there is no guarantee that you will achieve the indicated result.
(4) All Transactions are subject to the same fees and rules that apply to orders of the same type at the Platform and are not subject to any additional fees.
(5) We reserve the right to set any Request size for any Digital Asset. You hereby authorize us to set and apply these limits for the Services.
(6) The Platform has the exclusive authority to determine which Digital Assets are available in the Services and may add or remove them at their sole discretion, from time to time and without prior notice.
(7) We reserve the right to cancel or roll-back any Transaction, if any of them (i) has the potential to cause unforeseen damage or loss to any user of the Platform or us, or (ii) constitutes misrepresentation, fraud or any illegal act under these Terms or any applicable laws, or (iii) is used in any kind of exploit or hack.
(8) The Services are a constantly developed product and are subject to change.
5. Eligibility
(1) The Services are not available to persons who are not eligible to use the Platform in accordance with the WOO X Terms of Service.
(2) In addition, you are not eligible to use the Services if you are incorporated or otherwise established in, or a citizen or a resident of, including but not limited to, one of the Services unsupported countries/regions listed here.
We reserve the right to update this list at any time, in particular if it is assessed that publication or availability of the Services is restricted or contravenes applicable local laws.
(3) We reserve the right to suspend or terminate you from the Services at our discretion at any time in case of your non-compliance with these Terms, applicable laws or instructions issued by our representatives.
6. General Disclaimers
(1) We are not responsible or liable for any losses (including, without limitation, any direct or indirect damages, including loss of profits) resulting or arising directly or indirectly from your participation in the Services.
(2) To the maximum extent permitted under applicable laws, the Services are not intended to amount to securities of any form, collective investment schemes, portfolio or asset management services, investment services or any form of investment in any jurisdiction. We do not offer any investment, tax or financial advice and any information provided on the Platform is solely for informational purposes.
(3) The Services are commenced at the Participating User’s own, exclusive initiative. Any information provided within the Services does not constitute investment advice or any marketing, promotion or offer of any Digital Asset, investment, personal brand or person.
(4) All information in the Services are provided on an “as is” and “as available” basis, with no further promises made by us regarding the accuracy of the information or the availability of Services.
(5) You are responsible for complying with applicable laws. You agree that we are not responsible for determining whether or which laws may apply to any of your Transactions, including but not limited to tax law. You are solely responsible for reporting and paying any taxes arising from your use of the Services or from receiving any incentives.
(6) You agree that you shall not use the Services for any illegal purposes, nor conduct, initiate or promote any forms of market manipulation, including but not limited to wash trading, pump-and-dump, illegal gambling, money laundering, fraud, extortion, data breaches, terrorist financing, and any other violent activities or any business activities prohibited by these Terms or applicable laws.
7. Miscellaneous
(1) These Terms constitute a part of the WOO X Terms of Services and it is each Participating User’s responsibility to abide by any laws and enforcement regulation applicable in the jurisdiction where they access the Services.
(2) We may modify these Terms from time to time without prior notice. Your continued usage of the Services means you agree with any such changes and all subsequent actions by you shall be subject to the amended Terms.
(3) The headings in these Terms are for convenience only and shall not govern the meaning or interpretation of any provision.