OKX Web3 Ecosystem Terms of Service
SECTION 15 OF THIS TERMS CONTAINS BINDING ARBITRATION PROVISIONS THAT REQUIRES ARBITRATION ON AN INDIVIDUAL BASIS, WHICH MAY SIGNIFICANTLY AFFECT YOUR LEGAL RIGHTS AND OBLIGATIONS, INCLUDING YOUR RIGHT TO FILE A LAWSUIT IN COURT AND TO HAVE A JURY HEAR YOUR CLAIMS. PLEASE READ THESE TERMS CAREFULLY BEFORE USING THE SERVICES.
OUR SERVICES ARE SOFTWARE SERVICES THAT ALLOW YOU TO DISCOVER AND INTERACT WITH THIRD PARTY PLATFORMS, AND KEEP TRACK OF SUCH INTERACTIONS. OKX IS NOT A BROKER, FINANCIAL INSTITUTION, OR INTERMEDIARY AND IS IN NO WAY YOUR AGENT, ADVISOR, OR CUSTODIAN. OKX CANNOT INITIATE A TRANSFER OF ANY OF YOUR DIGITAL ASSETS OR OTHERWISE ACCESS YOUR DIGITAL ASSETS. OKX HAS NO FIDUCIARY RELATIONSHIP OR OBLIGATION TO YOU REGARDING ANY DECISIONS OR ACTIVITIES THAT YOU EFFECT IN CONNECTION WITH YOUR USE OF THE SERVICES. UNLESS EXPLICITLY STATED IN WRITING, OKX DO NOT HOST OR MAINTAIN ANY THIRD PARTY PLATFORM ACCESSIBLE ON OUR SERVICES, ARE NOT IN ANY WAY ASSOCIATED WITH OPERATORS OF ANY THIRD PARTY PLATFORM, AND HAS NO CONTROL OVER THE OPERATION OF THE THIRD PARTY PLATFORMS. OKX DOES NOT PARTICIPATE IN ANY TRANSACTIONS ON SUCH THIRD PARTY PLATFORMS. OKX DOES NOT ENDORSE OR APPROVE AND MAKES NO WARRANTIES, REPRESENTATIONS OR UNDERTAKINGS RELATING TO THE CONTENT AND SERVICES OF THE THIRD-PARTY PLATFORMS. OKX IS NOT CAPABLE OF PERFORMING TRANSACTIONS, FACILITATING TRANSACTIONS, OR SENDING TRANSACTION MESSAGES ON YOUR BEHALF. ALL TRANSACTIONS INITIATED THROUGH OUR SERVICES ARE INITIATED BY YOU.YOUR USE OF THE SERVICES MAY BE SUBJECT TO SUPPLEMENTAL TERMS, WHICH WILL EITHER BE LISTED IN THIS TERMS OR WILL BE PRESENTED TO YOU FOR YOUR ACCEPTANCE WHEN YOU USE THE SPECIFIC SUPPLEMENTAL SERVICE. IN THE EVENT OF ANY CONFLICT BETWEEN THIS TERMS AND THE SUPPLEMENTAL TERMS, THE SUPPLEMENTAL TERMS SHALL GOVERN AND CONTROL WITH RESPECT TO SUCH SERVICE.
Last updated: 21 November 2024
These terms of service constitute the agreement between: you (“User” or “you”) and the service provider, OKX Technology Services Pte. Ltd., a Singapore registered company (“we,” “us”, “our” or “OKX”), or any of our affiliates, regarding your use of the OKX Web3 Ecosystem platform at https://www.okx.com/web3, its mobile application (App) and any of its respective products or services (collectively, the “Services”, and the platform provided the Services, the “Platform”).
By using our Services, you confirm that you have read, understood, and accepted these terms of service and any and all other user agreements, terms, rules or policies referenced in these terms of service and/or during the provision of the Services as well as on the Platform, including our OKX Web3 Ecosystem Privacy Notice (collectively, the “Terms”), and you acknowledge and agree that you shall be legally bound by any and all of these terms and conditions regardless of your location, nationality, and/or Services used. If you do not agree to be bound by these Terms, please do not access or use the Services.
1. KEY DEFINITIONS & RULES OF INTERPRETATION
1.1 Key Definitions. Below are some key definitions that are applicable throughout these Terms as well as other related terms, user agreements, and rules:
“Applicable Laws” include any applicable common and civil law, principles of equity, and laws made by any government, relevant authority, or judicial body, including but not limited to any regulations, rules, court judgments, decrees, directives, policies, circulars, codes, guidelines or any other instruments (whether they have the force of law or not), and any amendments, replacements, modifications, consolidations, or re-enactments of any of the forementioned.
“Content” includes any text, images, music, software, data, audio, video, works of authorship, information, and any other materials that are generated, provided or otherwise made available through the Services. Content includes all User Content (as defined below) without any limitations.
“DApps” means decentralized applications, which are applications that operate on a blockchain or peer-to-peer network of computers and may operate autonomously.
"DeFi” means decentralized finance, which refers to the infrastructure, processes, and technologies used to democratize and/or decentralize financial transactions.
“Digital Asset” means any digital asset (also called “convertible virtual currency,” “virtual asset”, “cryptocurrency,” or “digital goods”), which is based on the cryptographic protocol of a computer network that may be (a) centralized or decentralized, (b) closed or open-source, and (c) used as a medium of exchange and/or store of value. Furthermore, a Digital Asset is expressed as a unit; capable of being transferred, stored and traded on a peer-to-peer basis with or without conditions or limitations; and approved by OKX for use in connection with the Exchange from time to time. For the avoidance of doubt, any Digital Asset that: (a) is transferred on any additional layer on top of a blockchain relating to another Digital Asset or any side chain; or (b) is a derivative of another Digital Asset, has enhanced features or functionality that supplements or interacts with another Digital Asset; is to be treated as a distinct Digital Asset from such other Digital Asset, and its use in connection with the Services will be subject to OKX’s approval. Digital Assets also include NFTs and other digital collectibles.
“Digital Wallet Address” means the public address for receiving and sending Digital Assets.
“Disputes” include but are not limited to any dispute, controversy, difference or claim arising out of or relating to these Terms and the Services, including the existence, validity, interpretation, performance, breach or termination thereof (including whether such controversy or claim is arbitrable) or any dispute regarding non-contractual obligations arising out of or relating to these Terms and the Services.
“Force Majeure” includes any event that is beyond OKX’s control and prevents us or delays us from fully performing our obligations under these Terms, including but not limited to: (a) natural disasters and/or acts of God, such as earthquakes, fires, cyclones, explosions, typhoons, floods, monsoons, landslides, lightning, storms, tempests, pandemics, droughts or meteors; (b) acts of war, whether declared or undeclared, including invasion, act of a foreign enemy, hostilities between nations, civil insurrection, or militarily usurped power; and acts of terrorism; (c) civil disorder, such as acts of a public enemy, malicious damage, terrorism, sabotage, or civil unrest; (d) embargoes or sanctions (such as confiscation, nationalization, requisition, expropriation, prohibition, restraint or damage to property by or under the order of any government or governmental authority; (e) unnatural disasters, such as ionizing radiation or contamination by radioactivity from any nuclear waste or from combustion of nuclear fuel; (f) labor disputes, including strikes, blockades, lock-outs, or other industrial disputes; (g) failure of telecommunication outlets, including the internet, communications networks and facilities, or other infrastructure, systems, operations or of equipment relevant to the provision or use of the Platform and/or Services; (h) data breaches or data-processing failure or incomplete processing; and/or (i) changes in laws or regulations that may materially affect the digital assets and/or blockchain industries.
“Losses” include but are not limited to any and all incidental, direct, indirect, general, special, punitive, exemplary, or consequential damages, as well as any loss of goodwill or business profits, work stoppage, data loss, computer failure or malfunction, and any and all other commercial and non-commercial losses, including without limitation, all interest, assessments, and other charges paid or payable in connection with or with respect to any of the foregoing of any kind.
“Mnemonic Phrase” means a specific number of words in a particular order generated by a random algorithm in accordance with the blockchain BIP39 industry standard, which is an easy-to-record expression of the private key and may be convenient for Users to backup and maintain.
“Password” means the password, including keys, certificates, passwords, access codes, user IDs, API Key or other credentials and login information (collectively "Passwords") a User may set during the process of creating an account or wallet and is used to protect the Private Key.
“Personal Data” means any information relating to an identified or identifiable natural person, such as a name, an identification number, location data, an online identifier or one or more factors specific to the physical, economic, cultural or social identity of you. It may also include network information regarding transactions, such as but not limited to, the type of device that you use, access times, hardware models, operating systems and versions, and other unique device identifiers; information about potential plug-ins you may use, such as but not limited to those related to the management of cryptocurrency assets and any information provided by them; your email and wallet addresses; and any other interactions with our Services and other related information that passes through our Services and/or other related blockchain technologies.
“Platform” means the entire decentralized ecosystem of OKX website, mobile applications, platforms, and any other applications that offer our Services under “OKX Web3 Ecosystem”. If there are any discrepancies between their respective terms and these Terms, their respective terms shall apply.
“Private Key” means the private key which is composed of 256 random characters and is the key to the User’s possession and use of Digital Assets.
“Public Key” means the public key generated by one-way derivation of the private key through cryptographic principles and systems. The Public Key is generally used to generate the digital wallet address on the blockchain.
“Restricted Location(s)” means any location through which OKX does not offer the Services, including but may not be limited to, Bangladesh, Bolivia, Cuba, Iran, North Korea, and Syria.
“Taxes” include any and all taxes, levies, stamps, charges, imposts, and duties imposed by any governmental authority as well as any related interest, penalties, fines and expenses in connection with them, except if imposed on, or calculated having regard to, the overall net income of OKX.
“Third Party Blockchain” means a blockchain supported by OKX and its Services and through which Users may withdraw and transfer available Digital Assets to such blockchain.
“Third Party Platforms” mean other platforms owned, controlled, or operated by third parties. OKX does not have any control of these platforms and also does not endorse any product, service information, or disclaimer they provide, nor does OKX guarantee the accuracy of the third-party platform’s information.
“User Content” means any Content that Users make available through the Services.
1.2 Rules of Interpretation. Unless the contrary intention is explicitly indicated, a reference in these Terms are as follows:
Any reference to a Digital Asset includes any part or fraction thereof.
Any reference to anything, including an amount, is a reference to the whole and each part of it.
Any labels or words that are used for definitions are for convenience only and do not affect the interpretation of the definition.
Any document, including these Terms, includes any amendment, variation, or replacement of that document.
Any reference to a document includes any ancillary documents or any agreements or other legally enforceable understanding created by that or under that document.
Any clause, part, annex, or schedule is a reference to a clause in, part of, or annex or schedule to these Terms.
Any statute, ordinance, code, or other law includes regulations and any other instrument(s) under it, as well as amendments, reenactments, consolidations, or replacements of any of the forementioned.
The singular includes the plural and vice versa.
The word “person” includes an individual, firm, corporate body, partnership, joint venture, unincorporated body or association, or any governmental authority.
A particular person includes a reference to that person’s executors, administrators, successors, substitutes, and assignees.
An agreement, representation, or warranty in favor of two or more persons is for the benefit of them jointly and each as an individual.
An agreement, representation, or warranty by two or more persons is binding upon them jointly and each as an individual.
A group of persons or things is a reference to any two or more of them jointly as well as to each as an individual.
A period of time dating from a particular day or the day of an act or event is to be calculated inclusive of that day.
The words “include”, “including”, “for example” or “such as” when introducing an example does not limit the meaning of the words to which the example relates to that example or examples of a similar kind.
A reference to “law” includes common law, principles of equity, and legislation (such as but not limited to regulations, rules, bylaws, ordinances, orders, and proclamations) and includes any amendments, re-enactments, consolidations, or replacements of any of the forementioned.
A reference to “regulation” includes legislation and instruments of a legislative character under legislation (such as but not limited to regulations, rules, bylaws, ordinances, orders, directives, and proclamations) as well as instruments or orders or endorsed by relevant governmental or regulatory authorities as well as any licensing, registration, or approval requirements under any of the forementioned.
A reference to “in writing” means in legible form and capable of reproduction on paper, and includes electronic communication.
A reference to “material” includes the ability to affect the outcome of a decision or application.
A reference to “property” or “asset” includes any present or future, real or personal, tangible or intangible property, asset, or undertaking as well as any right, interest or benefit under or arising from it.
Anything, including any amount or Service, includes each part and/or feature of it.
Any references to “you” or “your” refers to the person agreeing to these Terms, and where the context permits, includes any authorized individuals of that person.
2. OUR SERVICES
2.1 Description of our Services. OKX provides a decentralized online platform where Users may explore and engage with the decentralized world. These Services may include but are not limited to:
OKX Web3 Wallet – the digital wallet in your browser, which allows for multi-chain and multi-terminal ease of use. Users may connect their OKX Web3 Wallet to DApps and DeFi protocols to invest, trade and earn through installation of our browser extension. Wallet services also may include digital asset security management services; a display of digital asset exchange rate and transaction information; technical and management services to ensure the normal operation of the OKX Web3 Ecosystem; and other services available on the OKX Web3 Ecosystem. The OKX Web3 Wallet User Agreement is incorporated by reference into these Terms.
OKX Web3 Marketplace – decentralized platform where you can create, trade and display your Digital Assets including without limitation non-fungible tokens (NFTs), cryptocurrency and ordinals, digital collectibles, among other things. The OKX Web3 Marketplace User Agreement and the OKX Web3 Marketplace Content Policy are incorporated by reference into these Terms.
OKX Web3 Trade – an aggregator that allows Users to swap certain Digital Assets through a variety of blockchain networks. The OKX Web3 Trade User Agreement is incorporated by reference into these Terms.
OKX Web3 DeFi – a fully functional invest or staking platform where on-chain users can invest and manage their cryptocurrencies or digital asset investments through different third-party protocols and self-developed tools. The OKX Web3 Yield Farming Tool User Agreement is incorporated by reference into these Terms.
OKX Web3 Discover – an aggregator providing access to multiple third party DApps, including crypto games, video games that use blockchain technology and are fueled by Digital Assets. The OKX Web3 Discover User Agreement is incorporated by reference into these Terms.
OKX Web3 Build – a platform providing tools, products and services for developers to build and create personalised Web3 Ecosystem/or products and services. The OKX Web3 Build User Agreement is incorporated by reference into these Terms.
OKX Web3 Ecosystem also includes a powerful dashboard where you can view all your assets under different DeFi protocols on multiple public chains in one place, including the supported networks of Ethereum and OKC. Other supported protocols may include Uniswap, Maker, Compound, Aave, and Sushiswap, and OKX reserves the right to monitor and/or exclude certain protocols at its sole discretion.
2.2 Eligibility. The Services are intended solely for Users who are 18 or older. By accessing or using our Services, you represent and warrant that you are at least 18 years old and have not previously been suspended, banned, or removed from the Platform or Services, nor are you prohibited by any Applicable Laws. You represent and warrant that you have full civil rights and capacity, are able to independently bear legal responsibilities, and have all necessary power and authority to enter into these Terms. If you have limited capacity, you may only use the Platform and Services under the supervision and participation of your legal guardian; otherwise, OKX has the right to suspend and/or bar your wallet from accessing the Platform to the extent permitted by law.
If you are registering to use the Services on behalf of a legal entity, you represent and warrant that:
such legal entity is duly established and validly existing in accordance with Applicable Laws;
you have the necessary power and authority to enter into binding agreements for and on behalf of the legal entity; and
these Terms, once entered into, are binding on you and the legal entity.
YOU REPRESENT AND WARRANT THAT YOU ARE NOT ON ANY TRADE EMBARGOES OR ECONOMIC SANCTIONS LISTS (SUCH AS THE UNITED NATIONS SECURITY COUNCIL SANCTIONS LIST), THE LIST OF SPECIALLY DESIGNATED NATIONALS MAINTAINED BY OFAC (THE OFFICE OF FOREIGN ASSETS CONTROL OF THE U.S. DEPARTMENT OF THE TREASURY), OR THE DENIED PERSONS OR ENTITY LIST OF THE U.S. DEPARTMENT OF COMMERCE. YOU ALSO REPRESENT AND WARRANT THAT YOU ARE NOT RESTRICTED OR PROHIBITED FROM ENGAGING IN ANY TYPE OF TRADING BY THE EUROPEAN UNION, HONG KONG MONETARY AUTHORITY, HONG KONG CUSTOMS AND EXCISE DEPARTMENT, OFAC OR ANY OTHER ADMINISTRATIVE LAW ENFORCEMENT AGENCIES. OKX RESERVES THE RIGHT TO CHOOSE MARKETS AND JURISDICTIONS TO CONDUCT BUSINESS, AND MAY RESTRICT OR REFUSE, IN ITS DISCRETION, THE PROVISION OF ITS SERVICES IN CERTAIN COUNTRIES OR REGIONS.
In order to participate in our Services, you must ensure the following:
You have an active and valid OKX Web3 Wallet or other supported digital wallets;
If applicable, you shall ensure you have sufficient funds in your OKX Web3 Wallet; and
You shall otherwise satisfy any additional user agreement, service terms or requirements as stated by the Platform and/or Service.
OKX has sole and absolute discretion to determine access to the Services, and different eligibility criteria may apply when you access and use the Services.
2.3 Prohibited or Restricted Regions. The Services may not be available in all markets and jurisdictions, and we may restrict or prohibit use of all or part of the Services from certain locations, including but not limited to Restricted Locations (as defined in Section 1.1). The content of these Terms shall not be excluded from the laws of the country or region under which the User belongs. As a result, if you do not meet these eligibility requirements, you may not access or use the Services.
2.4 Third Party Content and Services. As a peer-to-peer Web3 service, OKX helps you explore Digital Assets including NFTs created by third parties and interact with different blockchains. Through its Discover Portal, OKX also provides insight and access to multiple third party DApps, including crypto games, which are fun and exciting video games that use blockchain technology and are fueled by Digital Assets. OKX does not make any representations or warranties about this third-party content visible through our Services, including any content associated with NFTs displayed on the Services, and you bear responsibility for verifying the legitimacy, authenticity, and legality of NFTs that you purchase from third-party sellers. We also cannot guarantee that any NFTs visible on OKX will always remain visible and/or available to be bought, sold, or transferred.
NFTs may be subject to terms directly between buyers and sellers with respect to the use of the NFT content and benefits associated with a given NFT (“Purchase Terms”). For example, when you click to get more details about any of the NFTs visible on OKX, you may notice a third-party link to the creator’s website. Such website may include Purchase Terms governing the use of the NFT that you will be required to comply with. OKX is not a party to any such Purchase Terms, which are solely between the buyer and the seller. The buyer and seller are entirely responsible for communicating, promulgating, agreeing to, and enforcing Purchase Terms. You are solely responsible for reviewing such Purchase Terms.
The Service may also contain links or functionality to access or use third-party websites (“Third-Party Websites”) and applications (“Third-Party Applications”), or otherwise display, include, or make available content, data, information, services, applications, or materials from third parties (“Third-Party Materials”). Any links of Third-Party Websites in our Services do not mean that OKX endorses any products, services, information and disclaimers provided therein, and OKX does not guarantee the accuracy of the information contained therein. When you click on a link to, or access and use, a Third-Party Website or Third-Party Application, though we may not warn you that you have left our Service, you are subject to the terms and conditions (including privacy policies / notices) of another website or destination. Such Third-Party Websites, Third-Party Applications, and Third-Party Materials are not under the control of OKX, and may be “open” applications for which no recourse is possible. OKX is not responsible or liable for any Third-Party Websites, Third-Party Applications, and Third-Party Materials. OKX provides links to these Third-Party Websites and Third-Party Applications only as a convenience and does not review, approve, monitor, endorse, warrant, or make any representations with respect to Third-Party Websites or Third-Party Applications, or their products or services or associated Third-Party Materials. You use all links in Third-Party Websites, Third-Party Applications, and Third-Party Materials at your own risk. OKX shall not be liable for any Losses caused by your use of such third-party products and services on Third-Party Websites and Third-Party Applications. OKX and each Third-Party Website and Third-Party Application are independent legal entities, and these Terms shall not constitute any form of agency, partnership or cooperative relationship between the parties. OKX and each Third-Party Website and Third-Party Application shall be responsible for their respective claims, debts and disputes arising from the performance of their respective contracts and agreements. OKX is merely the service provider of the OKX Web3 Ecosystem and the Services, and it has no influence or control of the content of Third Party Platforms or websites that reside on the OKX Web3 Ecosystem, and the operators of these Third Party Platforms or websites are solely responsible for their content. OKX has no control over Third Party Platforms’ terms of use or privacy policies /notices. Once you use our Services, you acknowledge, understand, and agree to all the terms of service, privacy policies / notices, and relevant transaction and operation rules, policies, or any other rules (as amended from time to time) on the Third Party Platform or other third party websites. OKX and each Third Party Platform are independent legal entities, and these Terms do not constitute any form of agency, partnership, or cooperative relationship between the parties. OKX and each Third Party Platform and any third party shall be responsible for their respective claims, debts and disputes that arise from the performance of their respective contracts and agreements.
2.5 Actions Regarding the Services. OKX has sole and absolute discretion in the provision and administration of the Services, whether under these Terms, the Terms, or otherwise.
2.6 Services are Provided As-Is. Please note that OKX provides all information regarding and/or on the Services on an as-is and as-available basis. You may not redistribute any information displayed on or provided by the OKX Web3 Ecosystem or its related Services.
3. REQUIREMENTS FOR USE
3.1 Connection with Digital Wallet. You understand and agree that in order to use and access the OKX Web3 Ecosystem and the Services, you must connect a digital wallet such as the OKX Web3 Wallet. You are responsible for all activities and events relating to or affiliated with your digital wallet after entering the system, and You shall bear all liability directly or indirectly caused by any and all actions and behaviours of this wallet address.
3.2 Public and Private Keys. In order to secure your wallet and be able to store Digital Assets, you must utilize a Private Key. You are also required to ensure the safety of your Private Key.
3.3 Protection of Keys and Mnemonic Phrase. You are responsible for keeping, protecting and safeguarding any Private Keys and/or Mnemonic Phrases relating to your digital wallet. If you lose these, you may not be able to access your digital wallet. You must immediately notify us of any unauthorized use and/or access of your digital wallet. We are not responsible for any Losses arising out of the unauthorized use of your digital wallet or any compensation or other liabilities for the Losses caused by or arising from any of the above-mentioned circumstances. We shall not ask for any Private Key or Mnemonic Phrase from our Users, nor shall we ask Users to transmit any funds, Digital Assets or Digital Asset addresses that are not listed on the Platform. We shall not be responsible for any Losses caused by transmitting funds, Digital Assets or Digital Asset addresses that are not listed on the Platform.
3.4 Access. Users must prepare the following devices and bear any related costs: 1) internet-connected device(s), including but not limited to computer or other internet-connectivity terminals; and 2) internet-accessing costs, including but not limited to internet fees, rental charges for internet-connected equipment, cellular data fees; etc.
3.5 Third Parties. You understand and agree that if you authorize any third party or third-party platform to use the Private Key information of your digital wallet, the third party or third-party platform will know your digital wallet information (including without limitation, information relating to your assets, transactions, operating authority for trading and digital wallet information; etc.); your digital wallet will be exposed to certain risks, and you may suffer Losses. You are solely responsible for any Losses caused by your authorization of any third party or third-party platform to use your Private Key information, and any Losses you incur by the third party or third-party platform using your Private Key information.
4. RISK DISCLOSURE
4.1 General. Digital Asset trading involves significant risk. The use of our Services also involves risks. In this section, we set out a non-exhaustive list of some of the risks below. These risks, as well as additional risks arising from now or in the future can be substantial and potentially devastating. You should therefore carefully consider whether using any of our Services is suitable for you in light of your financial condition prior to commencing your use. You must also seek professional advice regarding your particular financial condition prior to commencing your use of our Services. Finally, please ensure that you review the latest version of these Terms as they may change from time to time.
4.2 Digital Asset Risks. Digital Asset prices may fluctuate significantly at any given moment for any reason, moving up or down and even becoming valueless. The likelihood of Losses is just as likely as profits incurred from the trading of Digital Assets. Due to these price fluctuations, you may gain or lose value in your Digital Assets at any given moment.
4.2.1 Digital Assets Are Not Legal Tender. Digital Assets are not considered legal tender. They may not be backed by any physical assets and may not be not backed, guaranteed, or supported by any government or centralized authority. Digital Assets may not have intrinsic value either, and their circulation may be limited and restricted.
4.2.2 High-Risk Asset Class. Digital Assets are generally considered a high-risk asset class and may or may not be considered securities under certain jurisdictions. You must therefore exercise prudent judgment when trading Digital Assets (as well as any other assets).
4.2.3 Complex Nature. The nature of Digital Assets may be very complex, and their terms, features, and/or risks may not be readily or fully understood due to the complex structure, novelty, and reliance on technological features.
4.2.4. Value Fluctuation and Price Volatility. The value of Digital Assets may fluctuate significantly over a short period of time. Price volatility and unpredictable fluctuations may result in significant Losses over a short period of time.
4.2.5 Various Factors for Loss of Value. Any Digital Asset may decrease in value or lose all value in a short period of time or permanently due to various factors, including but not limited to, government or regulatory activity, the discovery of wrongful or illegal conduct, market manipulation, price distortion, insider dealing, market distortion, malicious wrongdoing or behaviours, changes to the Digital Asset’s nature or characteristics, suspension or cessation of support for a Digital Asset by other exchanges or service providers, public opinion, or other factors outside our control, technical advancements, and macroeconomic and political factors.
4.3 Trading on DApps. There is no assurance that our trading market for Digital Assets will be orderly and stable. Any Digital Asset or trading position may be subject to large swings in value and may even become worthless.
4.3.1 Conversion Risks. If you convert Digital Assets following the execution of an order or where an order is denominated in a particular Digital Asset other than your primary reference asset, there is a risk that, if the markets move against your position, then upon maturity or any earlier, the net proceeds may be significantly less than the initial amount in your primary reference asset, and any income or gains may be entirely negated.
4.3.2 No Deposits. The Digital Assets that are held by a DApp service provider or aggregator are not “deposits” nor are they intended to be held as any other regulated product or service under Applicable Laws.
4.3.3 No Statutory or Regulatory Protection. In comparison to other types of assets, including fiat currencies and securities, any Digital Asset transactions may not be subject to a right to claim under any investor compensation fund established by any government or regulatory authority; furthermore, Digital Assets held by any DApp service provider or aggregator may not be protected deposits, and may not be protected by any deposit protection scheme in any relevant jurisdiction. Thus, Digital Assets may have a reduced level and type of protection compared to fiat currencies, securities, and other asset classes and types.
4.3.4 Commissions and Fees. During the course of using our Services, you may be subject to various fees that may or may not arise directly from OKX. Prior to making any transactions, you must obtain details and a full understanding of all commissions, fees, and costs for which you may be liable. If any of these fees are not clear to you, you must request clarification of what fees will be applicable in specific monetary terms before using our Services or entering into any transactions. OKX may publish any fee schedule on the Platform and update it in its sole discretion from time to time.
4.3.5 Authorized Access to Your Wallet. Providing any other person access to your digital wallet involves risk. You must take all necessary steps to ensure that any person you provide access to are appropriate and legal. You must also adopt controls and protocols relating to your digital wallet as you see fit in order to monitor the activities of such persons in order to ensure that they remain appropriate and legal in their capacity.
4.3.6 Digital Assets May be Subject to International Laws. Please note that Digital Assets received or held by us may be subject to other Applicable Laws of international jurisdictions beyond your country of residence and/or citizenship.
4.3.7 Designated Persons Risks. There are substantial risks when allowing another person to trade or operate your digital wallet, and it is possible that any instructions you provide are not properly authorized or executed. You accept all risks of such operation and fully and irrevocably release OKX from any and all liability arising out of or in connection with all the aforementioned.
4.3.8 Potential Destabilizing Network Events. Under certain circumstances or situations, it may be difficult or even impossible to liquidate a position in Digital Assets. Certain events that occur on the network may occur rapidly and affect the ability to conduct transactions on any DApp’s platform. Information relating to these network events may be difficult to predict or ascertain beforehand and may be subject to limited oversight by any third party who may be capable of intervening in order to stabilize the network.
4.3.9 Irreversible Nature of Transactions. Digital Asset transfers are irreversible. Thus, accidental or fraudulent transactions with respect to Digital Assets may not be recoverable. You must therefore exercise caution when making any Digital Asset transfers and are solely liable for any Losses that may arise.
4.3.10 Timing-Related Risks. An order made on or via OKX Web3 Ecosystem is binding upon completion of the steps described in these Terms. An Order will not be reversed unless otherwise provided in these Terms. There is a risk that the final binding order does not occur simultaneously along with your instructions.
Thus, you may suffer Losses due to the fact that an order is not carried out at the desired time. In particular, contingent orders such as options or perpetual swaps may not limit your Losses to the intended amounts due to the volatility of market conditions.
4.3.11 Unauthorized Access. You accept there is a genuine risk that unauthorized third parties may access your digital wallet and make transactions without your knowledge or authorization, whether by obtaining control over a device or wallet you use or by other methods.
4.3.12 Materials May Not Be Up to Date. OKX is not obliged to provide any adaptations, enhancements and/or modifications to the materials and information provided on the Platform. This means, for example, that you may have an out-of-date version of the App, and new features may not be incorporated to the version of the App you use. It is your responsibility to ensure you update and download applicable updates and versions.
4.3.13 Unjust Enrichment and Clawbacks. If a potential loophole in the trading rules leaves you unjustly enriched, you may be contacted by OKX or the DApp to recover the gains. You must fully and effectively cooperate; otherwise, we will take actions, including but not limited to, placing restrictions on your access to the Services, initiating prosecution against you in a court with right of jurisdiction and other measures of recourse. If you do not cooperate, you will also bear all recourse costs. Where applicable, we may trigger socialized clawback mechanisms to take a portion of your gain to cover the shortfall.
4.4 Cyber Security and Technology-Related Risks. Trading Digital Assets involves various cyber security and technology-related risks. Below is a non-exhaustive list of various risks that you may encounter when using our Services.
4.4.1 Forks and Attacks. Digital Assets may be subject to forks or attacks on the security, integrity, and/or operation of the networks, including any network events, as mentioned above. These events may affect features, functionality, operations, use or other properties of any Digital Asset, network and/or platform. These events may also severely impact the price or value of any Digital Assets, and may even result in the shutdown of a network or platform associated with the Digital Asset, whether a DApp or not. These events are beyond OKX’s control. Even if OKX has any ability to impact such event, OKX’s decision or actions may not be in your best interests.
4.4.2 Cyber Attacks and Fraudulent Activity. Relying on Service technology via the Internet exposes you to an increased risk of fraud or cyber-attack. Digital Assets, your digital wallet, the Services, communication methods, or any other part of the Platform may be targeted by malicious persons or individuals who may attempt to disrupt the Platform, an order, or even steal Digital Assets. This includes but is not limited to the following:
Malware;
Hacking;
Phishing;
Double spending;
Smurfing;
Spoofing;
Sybil attacks;
Social engineering;
Majority-mining, consensus-based or other mining attacks;
Misinformation campaigns;
Distributed denial of service; and
Blockchain fork.
Digital Assets, your digital wallet, our Services, communication mediums, or any other part of the Platform may also have vulnerabilities that may be exploited, as well as vulnerabilities in smart contracts and other code, and even be due to or arising from human error.
You may store some of your Digital Assets in hot wallets, but these hot wallets may be at risk of hacking, cyber-attacks, or any of the above-mentioned disruptions. Cyber-attacks and hacking of Digital Asset trading platforms and Digital Asset theft are unfortunately very common. Victims may face extreme difficulty recovering Losses from hackers, trading platforms, or other related industry organizations and/or individuals. This could result in significant Losses and other adverse impacts that may materially affect your interests.
4.4.3 Targeting by Malicious Persons or Individuals. Malicious persons or individuals may target you and attempt to steal any Digital Assets you may hold, or claim any Digital Asset that you may have purchased. This may involve a variety of creative tactics, including the unauthorized access to your digital wallet(s), your Private Keys, your addresses, any Passwords, your email or social media accounts, your log-in access details or access method for the digital wallet(s), as well as unauthorized access to your computer, smartphone and any other devices that you may use. You are solely responsible for protecting yourself against such actions.
4.4.4 Reliance on the Internet and Other Technology. Digital Assets and the Platform depend on the internet and other technology (including various communication methods and mediums). However, the public nature of the internet means that parts or the entire internet may be unreliable or unavailable at any given time. Furthermore, interruption, delay, corruption or loss of data, the loss of confidentiality or privacy through the course of data transmission, or malware transmission may occur when transmitting data via the internet and/or other technology. The above may result in your transactions not being executed according to your instructions at the requested time, or not executed at all.
There is no technology that is completely secure or safe. You should therefore exercise caution when using any technology.
The internet as well as other electronic media (including but not limited to electronic devices, services by third-party telecom service providers such as mobile phones or other handheld trading devices or interactive voice response systems) are an inherently unreliable form of communication, and such unreliable may be beyond OKX’s control.
Any information (including any document or data) transmitted, or communication or transactions made, over the Internet or through other electronic media (including but not limited to electronic devices, services by third-party telecom service providers such as mobile phones or other handheld trading devices or interactive voice response systems) may be subject to interruption, transmission blackout, delayed transmission due to data volume, Internet traffic, market volatility or incorrect data transmission (including incorrect price quotation), or pause and/or delay of price data feed due to the public nature of the internet or other electronic media.
4.5 General Digital Asset Market Risks. The value of a particular Digital Asset may decline or be completely and permanently lost should the market for that Digital Asset disappear. There is no assurance that a market for a particular Digital Asset will continue indefinitely into the future since the value of a Digital Asset may be derived from various factors, including the continued willingness of market participants to exchange that Digital Asset.
4.5.1 Liquidity Risks and Losses. There is a risk that you may experience Losses due to the inability to sell or convert Digital Assets into a preferred alternative asset immediately or where conversion is possible but at a loss. Such liquidity risk for a Digital Asset may be caused by many reasons, including the absence of buyers, limited buy/sell activity or underdeveloped secondary markets.
4.5.2 Uncertain Future Payment Acceptance. There is no assurance that any individual or person who accepts a Digital Asset as payment will continue to do so in the future.
4.5.3 Government or Regulatory Authority Interference. You may suffer Losses as a result of value depreciation of a Digital Asset you paid as a result of controls imposed by a government or regulatory authority. Repayment or payment of any amounts due to you may be delayed or even prevented by controls or other actions imposed by government or regulatory authorities over Digital Assets and/or their ecosystem that these authorities control or regulate.
4.5.4 Inflation Risks. Digital Assets may, either because of their inherent design or through network events, not be a fixed supply. If and when additional Digital Assets are created, the particular Digital Asset’s price may decline due to inflationary effects of adding additional Digital Assets to the total available amount of assets in the market.
4.5.5 Whales and Concentration Risk. At any point in time, one or more persons may directly or indirectly control significant portions of the total supply of any particular Digital Asset. These persons are often referred to colloquially as “whales”. Whether acting individually or collectively, these whales may have significant impact, and may be able to influence or cause significant market events that may have a detrimental effect on price, value or functionality of Digital Assets. Furthermore, these whales, or other network participants and users, may make decisions that are not in your best interest as an investor of Digital Assets.
4.6 User Fault or Error. You shall bear any and all Losses resulting from your own fault or error, including but not limited to: not being in accordance with the transaction prompts operation, not conducting timely trading operations, forgetting or leakage of Passwords and/or Keys, cracked Passwords and/or Keys, and/or your computer being invaded or hacked by others.
4.6.1 Loss of Private Key. You are solely responsible for securing your Private Key with respect to any and all digital wallet(s). The loss of your control to your Private Key will permanently and irreversibly deny your access to your Digital Assets. We shall not be able to retrieve or protect your Digital Assets. Once lost, you will not be able to transfer your Digital Assets to any other address or wallet. Thus, you will not be able to realize any value or utility that the Digital Assets may hold.
4.6.2 Use of Jailbroken Devices. The use of the Platform on a jailbroken device may compromise security and lead to fraudulent transactions. You may suffer Losses as well as a termination of these Terms.
4.7 Reliance on Blockchain and/or Distributed Ledger Technology. Transactions involving Digital Assets are most likely irrevocable due to their utilization of blockchain and/or distributed ledger technology. Lost or stolen Digital Assets may never be retrieved or returned.
4.7.1 Irreversible Upon Recording. Once a transaction has been verified and recorded on a blockchain, generally the involved Digital Assets, even if lost or stolen, will not be returned, and the transaction will not be reversible.
4.7.2 Open-Source Software Risks. Digital Assets rely on various types of blockchain and/or distributed ledger technology. This technology is an open-source software that is built upon blockchain, which is still considered a novel and experimental technology. There are many risks that arise from this reliance, including but not limited to: existing technical flaws in the technology, malicious targets, majority-mining, consensus-based or other mining attacks, changes in the protocol or algorithms, changes in community or miner support, rapid and/or extreme fluctuations in value of relevant Digital Assets, the existence or development of competing networks, platforms, and assets, flaws or vulnerabilities in coding languages, disputes between developers, miners, and/or users, and regulatory action.
4.7.3 Cryptographic Innovation. Innovation and developments in cryptographic technologies and techniques, including but not limited to the advance of artificial intelligence and/or quantum computing may pose security risks to all cryptographically-based systems, including Digital Assets, digital wallets, communication mediums, any other part of the Platform, and even your data, as applicable.
4.8 General Risk Statements. Trading Digital Assets involves various risks in general. Below is a non-exhaustive list of various general risks that you may encounter when using our Services.
4.8.1 Jurisdiction-Related Risks. Residents, Tax residents, or persons having a relevant connection with Prohibited Jurisdictions are prohibited from using the Platform and the Services. Changes in your place of domicile or Applicable Laws may result in you violating legal or regulatory requirements in your jurisdiction. You are solely responsible for ensuring that your actions remain lawful despite changes to Applicable Laws, your residence, and/or your unique circumstances.
4.8.2 Service-Related Risks. OKX and its Affiliates may have issued certain Digital Assets, but there are many other Digital Assets that are issued by third parties. You must therefore carefully read and ensure you understand all applicable terms of service, product information, and risk disclosures prior to using our Services.
No user agreement, service terms or product information has been subject to governmental and/or regulatory approval unless expressly indicated otherwise. You must therefore exercise caution with respect to any such product offering.
For any Digital Asset services that have been authorized by a regulator, authorization does not imply any official recommendation or endorsement of the Services by the regulator, nor does it guarantee the commercial merits of a Service or its performance. You should seek independent professional advice before making any investment decisions.
4.8.3 Taxes and Accounting. Some Digital Assets and transactions may be subject to various Tax laws and regulations in an applicable jurisdiction. Please note that the Tax treatment and accounting of Digital Assets (including ancillary benefits) is a relatively new area of law and practice that may be subject to changes and further development. Tax treatment of Digital Assets may vary among jurisdictions. Tax authorities may reach out to us with queries, notices, requests or summons that we may be required to furnish certain information about.
Furthermore, there are no agreed-upon standards and practices for how an auditor may obtain sufficient evidence for an audit regarding the existence and/or ownership of Digital Assets and ascertain the reasonable nature of the valuations.
You should therefore seek independent professional advice before making any investment decisions.
4.8.4 Localized Risks. If a transaction is made in any Digital Asset issued by a party that is subject to foreign laws, or any transactions made on markets in other jurisdictions, including markets formally linked to a domestic market, recovery of the sums invested and any profits or gains may be reduced, delayed or even prevented by various exchange controls, debt moratorium, or other actions imposed by government or other official authorities. Before you use make any transactions, you should ensure that you fully understand any Applicable Laws relevant to that particular transaction.
Furthermore, your local official authority may be unable to compel enforcement of its Applicable Laws upon official authorities or markets in other jurisdictions where your transactions and/or Digital Assets may have been affected. You should therefore seek independent advice about the different types of potential redress that is available in your jurisdiction and other related jurisdictions prior to your use of OKX’s Services. If your country of residence imposes restrictions on Digital Assets, we may be required to discontinue your access to your digital wallet and the Services, and may not be permitted to return your Digital Assets or permit you to transfer your Digital Assets from your digital wallet to yourself or others until such time as the regulatory environment allows us to do so.
4.8.5 Regulatory Uncertainty. All Digital Assets are generally exposed to legal and regulatory risks. Legal and regulatory treatment of Digital Assets may change, and regulation of Digital Assets is unsettled and rapidly changing. Furthermore, legal and regulatory treatment of Digital Assets may vary substantially across different jurisdictions. Because of these legal and regulatory risks, any Digital Asset may decrease in value or even lose all value due to any legal or regulatory changes. This may affect the value or potential profit of any Digital Asset transaction.
In order to comply with Applicable Laws or for other reasons as indicated in these Terms, OKX may cancel and/or modify your transactions and orders, or restrict or suspend your use of the Services.
You should therefore seek and obtain independent legal, Tax and financial advice, and you should also continually monitor legal and regulatory updates that relate to your Digital Assets and/or transactions.
4.8.6 Conflicts of Interest. OKX and other Digital Asset trading platform operators may be acting as agents and as well as principals on your behalf. We and other service providers may facilitate the initial distribution of Digital Assets (such as but not limited to initial coin offerings), facilitate secondary market trading, or both operations, similar to a traditional exchange or securities broker. If any of these operations are not regulated by any governmental authority, it may be difficult to detect, monitor, and/or manage any conflicts of interest that may arise.
4.8.7 Cautions Regarding Forward-Looking or Prospective Statements. Website and internet pages, investor relations releases, oral or written outlooks, presentations, audio and video recordings of events, and other publications from websites may contain optimistic, forward-looking statements that reflect OKX and its management’s current views with respect to prospective projects and events. Certain words, including but not limited to, “anticipate”, “assume”, “believe”, “estimate”, “expect”, “intend”, “may”, “plan”, “project” and “should”, as well as other expressions often identify forward-looking statements. These statements are subject to risks, uncertainties, and changes due to many factors, including but not limited to: changes in Digital Asset and fiat currency exchange rates, interest rates, and commodities prices; the introduction of new and/or competing technology and ideas; increased market incentives; and a decline in demand for current Services or other products.
4.9 Services Risks. Our Services as a collective and each as an individual Service involves many risks, some of which are indicated in the Terms. In addition, the following risks, which is not a comprehensive list, may apply:
DeFi technology is not fully mature, and there has not been an established testing scale to determine the safety of DeFi technology;
The nature of decentralized technological architecture poses a potentially increased threat of hacker attacks;
The decentralized governance structure of DeFi projects and protocols do not allow for OKX to have any control of what may occur beyond the OKX Web3 Ecosystem; and
Collateral for DeFi protocols and projects may be higher than similar centralized protocols and projects.
4.9.1 Digital Wallet Risks. You are responsible for providing the necessary equipment and software in order to utilize any digital wallets, including any hardware and software protection mechanisms and protocols. Attempting to access our OKX Web3 Ecosystem and Services without the required equipment or software may result in permanent Losses. OKX shall not be responsible for any of these Losses that may occur.
4.9.2 Third Party Platforms and Services. During the course of your utilization of our Services, you may access and utilize Third Party Platforms and Third Party Blockchains. In order to access and utilize our Services, you agree to any and all of these Third-Parties’ terms of service, Privacy Policies / Notices, and any other applicable user agreements. You further acknowledge and agree that OKX has no control whatsoever over these Third Party Platforms and services, and you shall solely bear any and all Losses that may arise from your utilization of these Third Party Platforms.
4.9.3 Private Keys. Private Keys govern the security of digital wallets, and the loss of a private key would mean the loss of access to the wallet forever. You are responsible for keeping, protecting and safeguarding your Private Key that has been provided or that is generated in connection with your use of the Services and OKX Web3 Ecosystem. OKX is not responsible for your Private Key in any manner. If you lose your Private Key, you will not be able to access your digital wallet, and you may permanently lose any and all access to any Digital Assets or other funds that you may have stored in your digital wallet. You understand and agree that you shall solely bear any and all Losses that may arise from the loss or your inability to use your Private Key.
4.9.4 Careful Consideration Prior to Use of Services. In light of these risks (as well as potentially others that are not listed), Participating Users must carefully consider whether all applicable risks are acceptable prior to their linkage of their wallet to the OKX Web3 Ecosystem. You also appreciate that the risk disclosure statement herein is not and cannot be comprehensive or exhaustive. You must seek professional advice regarding your particular financial condition prior to commencing your use of Services. YOU UNDERSTAND THAT LOSSES MAY BE INCURRED RATHER THAN PROFIT MADE AS A RESULT OF PARTICIPATING IN SERVICES, AND THIS IS A RISK THAT YOU ARE PREPARED TO FULLY AND SOLELY ACCEPT AND BEAR.
5. USER REPRESENTATIONS AND WARRANTIES
5.1 Legal Purposes Only. You represent and warrant that you shall not use our Services for any illegal purpose or in any illegal way or manner. You shall abide by any and all Applicable Laws of the jurisdiction where you are located; all local, national, and international practices regarding internet use; and all network agreements, rules, and procedures related to or in connection with our Services.
5.2 Third-Party Platforms. You understand and agree that when you select a third-party service on the OKX Web3 Ecosystem, including the use of any third-party software, you indicate that you have first carefully evaluated and then selected this third-party service. OKX does not assume any liabilities for the third-party service you choose to use on our Platform. OKX cannot and is not obligated to guarantee the consequences of your use of such third-party services. You shall bear all Losses as a result of your use of these third-party services, and OKX shall not be liable for any Losses.
5.3 Full Responsibility. You agree to solely bear the responsibility for any and all activities that occur in connection with your use of the Services and under your wallet on OKX, including without limitation, disclosing or publishing information, clicking to agree with various agreements, uploading and submitting various documents or information, clicking to agree with the renewal of various agreements, or clicking to agree with service agreements provided by third parties. If you fail to comply with these Terms or OKX’s operating instructions and trading rules in the process of any of the above activities, OKX shall not be liable for any Losses.
5.4 Commercial Advertisements. You agree that OKX has the right to place various commercial advertisements or any other types of commercial and/or promotional information (including but not limited to, posting advertisements on any page of the Platform) in various ways during the provision of the Services, and you accept that OKX may send commercial promotions or other relevant commercial and/or promotional information to you through email or other communication means.
5.5 Providing Information for Disputes. You agree that if you have a Dispute with OKX or other third parties as a result of the use of a third-party service, you shall not request OKX to provide relevant information through channels other than judicial or administrative channels.
5.6 General Representations and Warranties. You represent and warrant the following:
You fully understand all risks associated with using our Services, and you have the necessary experience, understanding, and risk tolerance for using our Services, including the necessary experience and knowledge to enter into relevant transactions under the Services;
You shall carefully consider and use clear judgment to evaluate your financial situation and risks before making any decisions to use our Services, and you shall bear any and all Losses arising from your decisions;
You have the ability to perform operations on the internet in order to use our Services;
These Terms do not conflict with the Applicable Laws of your applicable jurisdiction(s), and you shall comply with all Applicable Laws of your applicable jurisdiction(s);
You are the legal and rightful owner of all funds and/or Digital Assets in your wallet or other Digital Assets or funds which you may use in connection with our Services. You represent and warrant that the sources of such funds and Digital Assets are legal, and you will not trade or obtain financing on or through OKX or any of its Services with anything other than funds or Digital Assets that have been legally obtained by you and that belong to you;
You agree to indemnify and hold OKX, and their officers, directors, shareholders, predecessors, successors in interest, employees, agents, subsidiaries and affiliates, harmless from any and all demands, Losses, liability, claims or expenses (including attorneys’ fees), made against OKX by any third party due to or arising out of or in connection with your use of this Platform or the Services; and
Any trading, transfer, exchange, or any other instructions received or undertaken through your signature credentials are deemed to be valid, binding and conclusive, and OKX may act upon such instructions without any liability.
5.7 Performance of Obligations. You must abide by all Applicable Laws of all applicable jurisdiction(s) when using our Services, and you agree to strictly perform the following obligations:
You shall not use the Services for any illegal purposes, including without limitation, illegal gambling, money laundering, fraud, extortion, data breaches, terrorist financing, and any other violent acts or any businesses prohibited by Applicable Laws;
You shall not conduct, initiate, or promote any forms of unfair trading practices, market manipulation or other forms of illegal conduct, including without limitation, illegal gambling, money laundering, fraud, extortion, data breaches, terrorist financing, and any other violent activities or businesses prohibited by Applicable Laws;
You shall not use our Services to engage in money laundering, stealing trade secrets, stealing personal information, or any other illegal or criminal activities, including but not limited to payment by illegal means like fictitious transactions, false prices, and transaction refunds; illegal cash-out activity via entity bank settlement account; illegal fund transfer from the bank settlement account of an entity to an individual account; illegal check cash-out activity or any unlawful, illegal, fraudulent or harmful purpose or activity under Applicable Laws;
You shall not in any way or capacity interfere with OKX’s normal operations or intrude upon OKX’s computer systems, including using our Services in any way that causes or may cause damage to our Services or impair the availability of or accessibility to the Services;
You shall not transmit or publish any illegal, criminal, harassing, slanderous, abusive, intimidating, harmful, vulgar, obscene, uncivilized or other similar information materials;
You shall not solicit others to engage in acts prohibited by these Terms or Applicable Laws;
You shall not use your OKX Web3 Wallet for for-profit business operations and activities that are prohibited by these Terms or Applicable Laws;
You shall not infringe upon the copyrights, trademark rights, and other intellectual property rights or legal rights and interests of any third party;
OKX’s goodwill and reputation will not be maliciously slandered by means of fiction, exaggeration of facts, or any other derogatory and/or false manner;
You shall not engage in other acts that violate Applicable Laws, public order and good customs, internet or online interests, or any other acts that OKX reasonably determines to be inappropriate.
If you fail to comply with any of the above, OKX has the right at its sole discretion to immediately suspend or terminate your access to the Services and take other measures without assuming any liability.
5.8 OKX’s Rules and Regulations. You shall strictly abide by the various rules and regulations announced or modified by OKX from time to time. OKX reserves the right to delete any and all of OKX’s information or content which does not comply with laws or regulations or is untrue or inappropriate without notifying you, and OKX shall not bear any liability.
6. FEES
6.1 General. Please note that OKX does not currently charge any fees, but we reserve the right to charge you with fees in the future. You understand and agree that OKX may charge you various fees related to or in connection with the Services. You further agree to pay all applicable fees and authorize OKX to automatically charge these fees along with any payments you may make, and we reserve the right to refuse to provide you our Services until we recover any and all fees or any other refunds paid to you in error where applicable and as needed. We reserve the right to change any Fees at our sole discretion with notice. We will disclose any Fees that we will charge you for the applicable Service at the time that you attempt to access the particular Service.
6.2 Third Party and Other Potential Fees. You understand and agree that you may incur fees from third parties for use of services linked to our OKX Web3 Ecosystem. You may also be charged fees for electing to link any wallets and/or apps to our OKX Web3 Ecosystem. Please note that third party fees are generally not charged by OKX (unless specifically indicated otherwise) and are not paid to OKX. When using services linked to our OKX Web3 Ecosystem, "gas fees" or third party protocol fees may be charged. You understand and agree that under certain circumstances (including without limitation the "gas fee" or insufficient third party protocol fee(s) paid by you during the transfer, or the relevant blockchain network is unstable), your operation may fail; in such circumstances, even if your operation is not completed, you may still be charged for gas fees or other third party protocol fees.
6.3 Taxes. It is your sole responsibility to determine whether, and to what extent, any Taxes apply to any transactions you conduct through the Services, and to withhold, collect, report and remit the correct amounts of Taxes to the appropriate Tax authorities.
7. OKX WEB3 ECOSYSTEM CONTENT
7.1 OKX Web3 Ecosystem Content and User Content. Please note that OKX does not claim any ownership rights to any User Content on the OKX Web3 Ecosystem. Unless otherwise specifically indicated in these Terms, OKX does not restrict any rights that any User may have to use and exploit their User Content.
Subject to the foregoing, OKX and its licensors exclusively hold all right, title and interest in and to the Services and Content, including any and all related intellectual property rights. You understand and agree that the Services and Content are protected by Applicable Laws. You further understand and agree not to remove, alter or obscure any copyright, trademark, service mark or any other proprietary rights notices incorporated into or accompanying the Services or Content.All contents available at OKX Web3 Ecosystem are also subject to OKX Web3 Marketplace Content Policy and OKX Web3 Marketplace Takedown Policy.
7.2 Rights You Grant to OKX. You understand and agree that in order to operate and provide our Services, we require a license regarding your User Content. Therefore, you hereby grant us a worldwide, non-exclusive, perpetual, irrevocable, royalty-free, sub-licensable, and transferrable license to use, copy, distribute, display, perform, and create derivative works of the User Content that you upload, submit, send, store and/or receive through or in connection with our Services. The rights you grant in this license are for the limited purpose of operating, improving, and providing our Services. Please refer to our Privacy Notice for more information about your privacy and how we may use the User Content.
7.3 Right and Authority over User Content. You represent and warrant that you have the right and authority to submit and/or upload your User Content, and the User Content or any part thereof does not infringe on the intellectual property rights or any other rights of any third party.
7.4 Deletion or Removal of User Content. You understand and agree that there may be certain situations where you have removed your User Content (whether by specifically deleting it or other similar actions), but the User Content (whether in whole or in part) may not be fully or completely removed, and copies of your User Content may continue to exist on the Services. We are not responsible or liable for the removal or deletion of your User Content, or the failure to remove or delete your User Content.
7.5 OKX Rights in Content. Subject to your compliance with our Terms and all Applicable Laws, OKX hereby grants you a limited, revocable, non-exclusive, non-transferrable, non-sublicensable license to view, copy, download, display, and print the Content solely in connection with your permitted use of our Services.
7.6 Intellectual Property Rights. OKX will take down works in response to the U.S. Digital Millennium Copyright Act (“DMCA”) takedown notices and/or other intellectual property infringement claims and will terminate a User's access to the Service if the User is determined to be a repeat infringer. If you believe that your content has been copied in a way that constitutes copyright or trademark infringement, or violates your publicity or other intellectual property rights, please submit written notice to us by email to enforcement@okx.com or at Support Center.
All DMCA notices and enquiries can also be sent to us and our DMCA designated agent at:
OKBL Pte. Ltd.
Legal and Compliance Center
12 Marina Boulevard, #36-01 and #36-02 Tower 3, Singapore 018982
Email: ip-request@okx.com
Note: This procedure is exclusively for notifying OKX that your copyrighted material has been infringed
For us to process your infringement claim regarding content on the Service, you must be the rights owner or someone authorized to act on behalf of the rights owner. Any notice must include:
Identification of the copyrighted work(s), trademark, publicity rights, or other intellectual property rights that you claim is being infringed, including any applicable registration number and a copy of the registration certificate. An English translation of the certificate must be provided if the certificate is not depicted in English language;
Identification of the allegedly infringing material that is requested to be removed, including a description of the specific location (i.e., urls) on the Service of the material claimed to be infringing, so that we may locate the material;
A brief explanation of how the protected intellectual property right has been infringed;
Your contact information – at a minimum, your full legal name (not pseudonym as it is not acceptable) and email or mailing address, If you are an individual, provide the legal first and last name. If you are a corporation, provide the full corporate name;
A declaration that contains all of the following:
I/We have a good faith belief that use of the material in the manner complained of is not authorized by the rights owner, its agent or the law. The information in this notice is accurate, and under penalty of perjury, I/We as the complaining party am authorized to act on behalf of the rights owner. I/We understand that I/we shall be liable for any damages, including costs and attorneys’ fees, OKX incurs related to any misrepresentation that OKX relies on to remove or disable access to the material claimed to be infringing; andYour physical or electronic signature (of your full legal name).
Please note that we will, upon exercising our reasonable efforts, provide in-app notification, post notification on our Marketplace regarding the takedown action, forward your notice, including your contact information, to the party who will have their content removed so they understand why it is no longer available on OKX platform and can also contact you to resolve any dispute. We may also invite the party to file a counter-notice, if applicable. All takedown notices and infringement claims shall be handled and processed by OKX in its sole discretion.
8. CHANGE, INTERRUPTION, TERMINATION, AND DISCONTINUATION OF SERVICES
8.1 Service Change and Interruption. We may change the Services and may also interrupt, suspend or terminate the Services at any time with or without prior notice.
8.2 Service Discontinuation and Termination. We reserve the right, in our sole discretion, to discontinue or terminate the Services provided to you without notice, temporarily and/or permanently, including but not limited to, the following cases:
If the Personal Data you have provided is not true or inconsistent with the information at the time of registration (please remember, according to Applicable Laws, you must fully submit true and accurate information);
If you violate Applicable Laws or these Terms;
If required by any provisions of Applicable Laws, as well as the requirements of relevant government authorities;
For security reasons or any other reasonably necessary circumstances.
8.3 Technological Limitations and Force Majeure. You acknowledge and consent that the Services are provided by us according to our current technological capability and other business conditions. While we have made every effort to ensure continuity and security of the Services, we are unable to completely foresee and hedge against all legal, technological and other risks, including but not limited to, Force Majeure events that may result in service interruption, data loss and other Losses and exposure to risks.
If the system platform is unable to operate properly because of the following circumstances and the User is unable to access the Services or place or cancel an order, we assume no liability for any Losses.
8.4 Abnormal Transactions. For abnormal transactions, market fluctuation, price fluctuation, market interruption and other abnormal conditions caused by system failure, network failure, distributed denial of service attacks (DDos), other hacker attacks or other unexpected factors, we have the right to cancel the abnormal transaction results. We may also have further rights to rollback transactions for particular Services, which are described in further detail in their respective Terms, user agreements, and/or rules.
8.5 User Acknowledgement. While using the Services, you agree and acknowledge the possibility of discontinuation and disruption of the Services. You further acknowledge and agree that OKX will not be liable for any Losses.
You agree and accept that many circumstances may lead to abnormal transactions, market fluctuation, price fluctuation, market interruptions, and other possible abnormal circumstances. OKX reserves the right to refuse to execute your instructions based on actual circumstances. You understand and agree that OKX shall not be liable for any and all of Your Losses.
8.6 No Specific Loss Determination. As OKX provides standardized services, we are unable to reasonably predict the Losses that may be incurred by specific Users arising from OKX’s defaults. OKX does not charge additional fees for benefits you may obtain from using our Services. Therefore, you agree that, to the extent permitted by Applicable Laws, OKX shall not be responsible for any Losses however generated or created, in connection with or arising from these Terms; as a result of using our Services, or any and all information, content, materials, products (including software) contained in or otherwise provided by OKX to you; or the purchase and use of any products or Services, even if you were notified in advance of the possibility of these Losses.
8.7 Reasonable Efforts. If the Platform or system crashes or cannot be normally used due to a Force Majeure event or other uncontrollable reasons, and as a result, a transaction cannot be completed or relevant information and records are lost, OKX may make reasonable efforts to assist in handling these circumstances. You agree to bear any and all Losses caused by the above circumstances, and OKX shall not be liable to you for any Losses.
9. COMPLIANCE WITH APPLICABLE LAWS
9.1 Compliance with Applicable Laws. You agree to comply with all Applicable Laws. When using our Services, you acknowledge that your actions are in a legal and proper manner and your sources of Digital Assets are not from illegal activities. We may at our discretion or in coordination with local law enforcement authorities seize, restrict or close your account, fiat currency and Digital Assets as well as report you to any legal or government authority.
9.2 Compliance with KYC Principles and Anti-Money Laundering Regulations. You must pay special attention to your local anti-money laundering regulations. Failure to do so may place you and/or your assets at risk. We are committed to providing you with safe, compliant, and reputable Services. Thus, we may also require a comprehensive and thorough due diligence review process as well as any implementation processes, ongoing analysis, and reporting. This may include but is not limited to monitoring for any suspicious transactions as well as mandatory reporting to relevant local and international regulators. You agree to allow OKX to collect certain information and documentation on file in order to adhere to Applicable Laws. Please note that this right will extend beyond termination of your relationship with OKX, including the abandonment of your account and/or wallet or any other related applications.
10. Privacy Notice
Please refer to our OKX Web3 Ecosystem Privacy Notice for information about how we collect, use, and share your personal data and information.
11. NOTICES
11.1 Form of Notice. Any notices provided to you will be made through electronic mail unless otherwise instructed, including the delivery of any updates to these Terms, or any new or updated agreements, rules, announcements or other notices. Notices may be delivered to you by OKX announcements, letters, emails, and mobile phone text messages electronically or by posting on the Platform.
11.2 Delivery Date. Notices will be deemed to have been delivered to you on the sent date for all electronic notices. If you fail to receive such notice on the date when the foregoing notice was deemed to be delivered due to reasons not attributable to OKX (including but not limited to inaccurate or invalid email address, mobile phone number etc; information transmission failure; or other reasons), OKX shall not assume any liability for any Losses.
11.3 Language. Notices shall generally be in English unless otherwise instructed. If there are any discrepancies between the English language version of the Terms or any such communications and any translation of the Terms or such communications (as applicable) in a foreign language, the English version shall prevail.
12. INDEMNIFICATION
12.1 General. You hereby release OKX and its affiliates from liability for any and all Losses, and you shall indemnify, defend, and hold harmless us, our affiliates, and our and their respective agents (if any), employees, officers, directors, affiliates, subsidiaries and successors (each an “Indemnified Party”) from and against, and must pay the Indemnified Party on demand for, all Losses relating to any third-party claims relating to or in connection with your use of the Services, your breach of these Terms, or your User Content. For clarity, if OKX or any Indemnified Party suffers any Losses as a result of your breach of the Terms, you shall be liable for compensation of all Losses.
12.2 Interest. You agree to pay interest on any amounts with respect to which you are required to indemnify any person under this section or otherwise under these Terms from the date of demand until the date of receipt by that person in full of such amounts and the interest (both before and after judgment) at the rate of interest to be reasonably determined by OKX at that time.
12.3 Further Cooperation. If OKX requests, you also must do the following: (a) appear and defend, at your own cost, any action which may be brought against OKX in connection with or relating to these Terms; and (b) sign any document OKX reasonably requires to give further effect to this section.
12.4 Application of Indemnification. You agree that the provisions of this section: (a) shall continue in full force and effect relating to any instructions we receive before we give you notice that we will not accept further instructions; and (b) are unconditional, irrevocable, and survive termination of all matters and dealings between you and OKX and are not impaired or hindered by any act, omission, matter or thing that may discharge or impair the indemnification, but for this clause.
13. LIMITATIONS OF LIABILITY
13.1 LIMITATION OF LIABILITY. OKX’s aggregated liability in connection with these Terms shall not exceed the greater of (a) $100 US dollars or (b) the fees OKX received from you in the 12 months immediately preceding the event giving rise to the liability. EXCEPT AS OTHERWISE REQUIRED BY LAW, IN NO EVENT SHALL OKX, OUR AFFILIATES, DIRECTORS, MEMBERS, EMPLOYEES, OR AGENTS BE LIABLE FOR ANY SPECIAL, INDIRECT, INCIDENTAL, OR CONSEQUENTIAL DAMAGES, INCLUDING BUT NOT LIMITED TO, LOSS OF USE, LOSS OF PROFITS OR LOSS OF DATA, WHETHER IN AN ACTION IN CONTRACT, TORT (INCLUDING BUT NOT LIMITED TO NEGLIGENCE), OR OTHERWISE, ARISING OUT OF OR IN ANY WAY CONNECTED WITH THE USE OF OR INABILITY TO USE OUR SERVICES OR OKX PRODUCTS AND MATERIALS, INCLUDING, WITHOUT LIMITATION, ANY DAMAGES CAUSED BY OR RESULTING FROM RELIANCE BY ANY USER ON ANY INFORMATION OBTAINED FROM OKX, OR THAT RESULT FROM MISTAKES, OMISSIONS, INTERRUPTIONS, DELETION OF FILES OR EMAIL, ERRORS, DEFECTS, VIRUSES, DELAYS IN OPERATION OR TRANSMISSION, OR ANY FAILURE IN PERFORMANCE, WHETHER OR NOT RESULTING FROM A FORCE MAJEURE EVENT, COMMUNICATIONS, FAILURE, THEFT, DESTRUCTION, OR UNAUTHORIZED ACCESS TO OKX’S DOCUMENTATION, RECORDS, OR SERVICES. Please note that some jurisdictions may not allow these exclusions or limitations of liability for incidental or consequential damages, and thus, these provisions may not apply to all Users.
13.2 No Warranties. OKX does not make any warranties regarding the following:
our Services will satisfy the needs of the Users;
our Services will be uninterrupted or without any faults, provided in a timely manner, or free from errors;
Any products, services, information, or other materials purchased or obtained by Users through our Services will meet the Users’ expectations;
All information, programs, texts, data, and other materials contained in OKX’s Services are completely safe and free from interference and/or damage by any malicious programs such as but not limited to viruses and Trojan horses;
All calculations of trading results are verified by OKX, and the corresponding calculation methods will be published on the platform, but OKX makes no warranties that its calculations will be free from errors or interference.
13.3 OKX’s Right of Refusal to Compensate. You acknowledge and agree that OKX has the right to refuse to compensate you for the following situations:
OKX reasonably believes that your behaviour on the Platform may involve any illegal, fraudulent, malicious or unethical behaviour;
You unreasonably or incorrectly believe that the loss is caused by OKX;
Any other losses not caused by or attributed to OKX.
13.4 Intentional and Gross Negligence. OKX is only liable for damages to the User in the case of intentional and gross negligence.
13.5 Other Limitations of Liability. To the maximum extent permitted by Applicable Laws, OKX is only liable in the following situations:
In the case of negligence, OKX is only liable for breach of material contractual obligations (material obligations means obligations that must be performed; otherwise, the purpose of the contract cannot be fulfilled and are usually relied upon by you for performance);
Except for intentional breach of contract, OKX’s liability is limited to the amount of damages normally foreseeable at the time of the conclusion of these Terms. You are obligated to inform OKX of the relevant special risks, atypical potential damages, and subsequent potential abnormal or additional Losses.
13.6 No Fiduciary Duties. You understand and agree that the relationship between you and us; any actions contemplated by these Terms; or any other matter does not give rise to any fiduciary, trustee, or equitable duties on our part in your favor, even where we may have better knowledge of the general market or of any particular transaction.
Furthermore, there are no duties that would oblige us to accept responsibilities that are more extensive than those set out in these Terms or which prevent or hinder us from carrying out any of the actions contemplated in these Terms.
13.7 No Financial Advice. OKX is not your broker, intermediary, agent, or advisor and has no fiduciary relationship or obligation to you in connection with any trades or other decisions or activities effected by you using the Services. No communication or information provided to you by OKX is intended as, or shall be considered or construed as, investment advice, financial advice, trading advice, or any other sort of advice. Unless otherwise specified in these Terms, all trades are executed automatically, based on the parameters of your order instructions and in accordance with posted trade execution procedures, and you are solely responsible for determining whether any investment, investment strategy or related transaction is appropriate for you according to your personal investment objectives, financial circumstances and risk tolerance, and you shall be solely responsible for any loss or liability therefrom. You should consult legal or tax professionals regarding your specific situation. OKX does not recommend that any Digital Asset should be bought, earned, sold, or held by you. Before making the decision to buy, sell or hold any Digital Asset, you should conduct your own due diligence and consult your financial advisors prior to making any investment decision. OKX will not be held responsible for the decisions you make to buy, sell, or hold Digital Asset based on the information provided by OKX.
14. GOVERNING LAW
14.1 General. These Terms, your use of the Services, any claim, counterclaim or dispute of any kind or nature whatsoever arising out of these Terms, directly or indirectly (“Dispute”), shall be governed by, and construed in accordance with the laws of England and Wales without regard to the principles of conflicts of laws thereof.
15. JURISDICTION AND DISPUTE RESOLUTION
15.1 Dispute Resolution Method. You acknowledge and agree that in the event of any Dispute, the parties shall first refer the Dispute to proceedings at the Hong Kong International Arbitration Centre (“HKIAC”) in accordance with HKIAC’s Mediation Rules in force at that time.
15.2 Arbitration Rules and Jurisdiction. If the Dispute has not been settled upon the signing of a settlement agreement within ninety (90) days following the filing of a request for mediation set forth in Clause 15.1, such Dispute shall be referred to and finally resolved by arbitration administered by the HKIAC under the HKIAC Administered Arbitration Rules in force when the Notice of Arbitration is submitted. The law of this arbitration clause shall be the laws of the Hong Kong Special Administrative Region of the People’s Republic of China (“Hong Kong”). The location of any in-person arbitration hearing shall be Hong Kong, unless otherwise agreed to by the parties.
15.3 Arbitration Seats and Language. You agree that the seat of arbitration shall be Hong Kong. The number of arbitrators shall be three (3). OKX shall appoint one (1) arbitrator and you shall appoint one (1) arbitrator. The third arbitrator shall be appointed by the Chairman of the HKIAC. Such arbitrators shall be freely selected, and the parties shall not be limited in their selection to any prescribed list. Any arbitration proceedings shall be conducted in the English language.
15.4 Limited Discovery. You agree that OKX shall not be required to give general discovery of documents, but may be required only to produce specific, identified documents which are relevant and material to the outcome of the Dispute.
15.5 Final and Binding Nature. Any arbitral award shall be final and binding upon the parties hereto and shall be enforceable in any competent court which has jurisdiction.
15.6 No Class Action or Litigation. You agree to resolve any and all disputes with OKX on an individual basis through arbitration instead of as part of any class action or representative litigation.
15.7 Confidentiality. The parties agree that the arbitration shall be kept confidential. The existence of the arbitration, any non public information provided in the arbitration, and any submissions, orders or awards made in the arbitration (together, the “Confidential Information”) shall not be disclosed to any non-party except the tribunal, the HKIAC, the parties, their counsel, experts, witnesses, accountants and auditors, insurers and reinsurers, and any other person necessary to the conduct of the arbitration. Notwithstanding the foregoing, a party may disclose Confidential Information to the extent that disclosure may be required to fulfil a legal duty, protect or pursue a legal right, or enforce or challenge an award in bona fide legal proceedings. This confidentiality provision shall survive termination of these Terms and of any arbitration brought pursuant to these Terms.
16. GENERAL PROVISIONS
16.1 Acceptance of all Terms and Conditions. By using the Services (or any subcomponent thereof), you agree that you have read, understood and accepted these Terms and all relevant transactions and operational rules in connection with the Services, and you agree to be legally bound by the terms and conditions hereof. OKX reserves the right to change or modify these Terms at any time at its sole discretion and will provide notice of such changes by posting the revised Terms on the Platform and changing the “Last Updated” date herein. Please also carefully read all terms of service, Privacy Policies / Notices, and relevant transactional and operational rules (as amended from time to time) published on the Third Party Platforms. Access and use of the Services is only allowed after you have read, understood and agreed to all relevant rules.
16.2 Severability. If any provisions of these Terms shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. If, however, any provision of these Terms shall be invalid, illegal, or unenforceable under any such applicable law in any jurisdiction, it shall, as to such jurisdiction, be deemed modified to conform to the minimum requirements of such law, or, if for any reason it is not deemed so modified, it shall be invalid, illegal, or unenforceable only to the extent of such invalidity, illegality, or limitation on enforceability without affecting the remaining provisions of these Terms, or the validity, legality, or enforceability of such provision in any other jurisdiction.
16.3 Assignment. You may not assign these Terms in whole or in part without OKX’s prior written consent. Neither OKX’s approval of a third party nor Your use of a third party shall relieve You from responsibility under these Terms. You shall be fully responsible for any and all acts and omission of such third parties, which will be deemed to be Your acts and omissions under Terms. OKX has right to transfer, novate or assign any rights or obligations under these Terms by serving written notice on you, which takes effect upon the delivery of such notice.
16.4 Complete Understanding. These Terms set forth the complete understanding of the parties with respect to the subject matter hereof and supersedes all prior understandings and communications relating thereto. No term or condition of any other document provided to OKX which is different from, inconsistent with, or in addition to the terms and conditions set forth herein will be binding upon the Parties. You represent and warrant that all information disclosed to OKX in connection with these Terms are true, accurate, and complete.
16.5 Modification. We reserve the right to change or modify the terms and conditions contained in the Terms, including but not limited to any policy or guideline of the Platform, at any time and at our sole discretion. We may provide notice of these changes by posting the revised Terms and changing the "Last updated" date at the top of the Terms, or by emailing Users at their provided email addresses, or by any other means as determined by us at our sole discretion. Any changes or modifications will be effective immediately upon posting the revisions to the Platform or at the instant that we transmit the information. These changes will apply at that instant to all then current and subsequent use of or access to the Services. You waive any right you may have to receive specific notice of such changes or modifications. Your continued use of this platform acts as acceptance of such changes or modifications. We encourage you to frequently review the Terms to ensure that you understand the terms and conditions that apply to your access to, and use of, the Services.
16.6 Feedback. If You have any complaints, feedback, or questions, please contact our Customer Service at Support Center. When you contact us, please provide us with your name and email address and any other information we may need to identify you, and the transaction that you have feedback, questions, or complaints about.
16.7 Electronic Communications. Communications between you and OKX use electronic means, whether made via the Platform or Services or sent via e-mail, or whether OKX posts notices on the Platform or Services. For contractual purposes, you (1) consent to receive communications from OKX in an electronic form; and (2) agree that all terms and conditions, agreements, notices, disclosures, and other communications that OKX provides to you electronically satisfy any legal requirement that such communications would satisfy if it were to be in writing. The foregoing does not affect your statutory rights.
16.8 Final Interpretation. OKX has the sole and final discretion of interpretation of these Terms.