XBTS DEX Terms of Use

This User agreement is between you (referenced herein as “you” or with “your”) and XBTS DEX. XBTS DEX is a BitShares-based decentralized exchange (gateway) and an entry point into the decentralized BitShares market. The XBTS decentralized exchange (gateway) (further denoted simply as the XBTS DEX) allows for direct exchange of digital goods traded in the BitShares ecosystem. By accessing, using or clicking “I agree” to any of the services made available by XBTS DEX or one of its affiliates through the website (https://xbts.io), the API (https://api.xbts.io), Trading interface (https://ex.xbts.io ) (together, the “Services”). By registering for a XBTS Dex account (“Account”) or using any of the Services, you agree that you have read, understood and accept all of the terms and conditions contained in this Terms of Use agreement (the or these “Terms”).

PLEASE READ THESE TERMS CAREFULLY AS THEY GOVERN YOUR USE OF THE SERVICES. AS WITH ANY ASSET, THE VALUE OF DIGITAL CURRENCIES CAN GO UP OR DOWN AND THERE CAN BE A SUBSTANTIAL RISK THAT YOU WILL LOSE MONEY BUYING, SELLING, HOLDING, OR INVESTING IN DIGITAL CURRENCIES. BY USING THE SERVICES YOU ACKNOWLEDGE AND AGREE THAT YOU ARE AWARE OF THE RISKS ASSOCIATED WITH TRANSACTING IN DIGITAL CURRENCIES THAT YOU ASSUME ALL RISKS WITH RESPECT TO YOUR USE OF THE SERVICES AND TRADING IN DIGITAL CURRENCIES AND XBTS DEX IS NOT RESPONSIBLE OR LIABLE FOR ANY SUCH RISKS OR ADVERSE OUTCOMES.

BY ACCESSING, USING OR ATTEMPTING TO USE THE SERVICES IN ANY CAPACITY, YOU ACKNOWLEDGE THAT YOU ACCEPT AND AGREE TO BE BOUND BY THESE TERMS. IF YOU DO NOT AGREE, DO NOT ACCESS OR USE THE SERVICES.

Note that this Agreement uses the term “Digital Assets” to refer to bitcoin, ethereum or any other digital assets, cryptocurrencies, virtual currencies or tokens that are available for purchase and exchange through XBTS DEX.

1. Agreement Conditions

XBTS DEX reserves the right to modify or change the Terms at any time and at its sole discretion. XBTS DEX will provide notice of these changes by updating the revised Terms on the webpage (https://xbts.io/terms) and changing the “[Last revised:]” date on this page. Any and all modifications or changes to these Terms will be effective immediately upon being announced on the website. As such, your continued use of XBTS DEX services acts as acceptance of the amended agreement and rules. If you do not agree to any modification to these Terms, you must stop using the Services. XBTS DEX encourages you to frequently review the Terms to ensure you understand the terms and conditions that apply to your access to, and use of, the Services.

2. Eligibility

You must be at least 18 years old. By accessing or using XBTS DEX, you further represent and warrant that you are not a Restricted Person nor are you a citizen or resident of the United States. You are not a resident/citizen of any restricted country and have no links and/or ties to the restricred countries

You represent and warrant that you will not be using XBTS DEX for any illegal activity, money laundering, fraud, blackmail, extortion, ransoming data, the financing of terrorism, other violent activities or any prohibited market practices.

3. Prohibition of use

By accessing and using the Services, you represent and warrant that you are not on any trade or economic sanctions lists, such as the UN Security Council Sanctions list, designated as a “Specially Designated National” by OFAC (Office of Foreign Assets Control of the U.S. Treasury Department) or placed on the U.S. Commerce Department’s “Denied Persons List”. XBTS DEX maintains the right to select its markets and jurisdictions to operate and may restrict or deny the Services in certain countries at its discretion.

4. Description of services

XBTS DEX provides an online digital asset trading platform (crypto to crypto) for products commonly known as cryptographic tokens, digital tokens or cryptographic currency (collectively, “Digital Assets”). XBTS DEX does not provide fiat trading capabilities on as part of the Services. XBTS DEX functions as a BitShares blockchain gateway trading platform provider and not as a buyer or seller in trades made between traders. XBTS DEX is also not a market maker. Users must register and open an account with XBTS DEX as further set forth in Section 5 below and deposit digital assets prior to commencement of trading.

XBTS DEX strives to maintain the accuracy of information posted on the Services however it cannot and does not guarantee the accuracy, suitability, reliability, completeness, performance or fitness for any purpose of the content made available through the Services, and will not be liable for any loss or damage that may arise directly or indirectly from your use of such content. Information on the Services can be subjected to change without notice and is provided for the primary purpose of facilitating users to arrive at independent decisions. XBTS DEX does not provide investment or advisory advice and will have no liability for the use or interpretation of information as stated on the Services or other communication mediums. All users of the Services must understand that there are risks involved in trading in Digital Assets. XBTS DEX encourages all users to exercise prudence and trade responsibly within their own means.

5. XBTS DEX Account Registration

a. Registration

All users of the Services (each, a “User”) must register at (https://ex.xbts.io/) for a XBTS DEX account (an “Account”) before using the Services. To register for an Account, you must provide The account comes with the Private/public keys. You should keep the information safe. Also, XBTS DEX account gives you some benefits (i.e., Lifetime Membership (LTM) and Referral Program) and important roles (i.e., voting). We recommend you to read through BitShares gateways Accounts information to learn more https://how.BitShares.works/en/master/user_guide/accounts/index_account.html .

When you create a XBTS DEX BitShares account, BitShares registers the account name to the blockchain and also assigns an incrementing identifier (account id) during the registration. You will not need to remember the account_id while you use the BitShares wallet operations (i.e., send fund, place order, etc).

If you want to know your acount_id. go to a cryptofresh ( https://www.cryptofresh.com/ )and search your account name. You will find your account id under your account name.

The identifier (account_id) comes with many advantages: Besides improved scalability, we have separated the identity from the transaction authorizing signature. In practice, owning an account name is autonomous from being able to spend its funds. Furthermore, both rights (we call them permissions) can split among an arbitrary complex relation of people (we call them authorities) using weights and required thresholds.

To separating authorities from identities, BitShares can be much faster in processing delay while having much smaller transaction sizes. All participants are forced to have a named account on the blockchain. Also, most transactions are tied to the account name and can be linked to individuals (this includes transfers, trades, shorts, etc. but not stealthed transactions).

b. Account Security

XBTS DEX strives to maintain the safety of those user funds entrusted to us and has implemented industry standard protections for the Services. However, there are risks that are created by individual User actions. You agree to consider your access credentials such as user name and password as confidential information and not to disclose such information to any third party. You also agree that you alone are responsible for taking necessary safety precautions to protect your own account and personal information.

You shall be solely responsible for the safekeeping of your XBTS DEX account and password on your own, and you shall be responsible for all activities under Account and XBTS DEX will not be responsible for any loss or consequences of authorized or unauthorized use of your Account credentials including but not limited to information disclosure, information posting, consent to or submission of various rules and agreements by clicking on the website, online renewal of agreement, etc.

By creating an Account, you hereby agree that:

• (i) you will notify XBTS DEX immediately if you are aware of any unauthorized use of your XBTS DEX account and password by any person or any other violations to the security rules;
• (ii) you will strictly observe the security, authentication, dealing, charging, withdrawal mechanism or procedures of the website/service; and
• (iii) you will log out from the website by taking proper steps at the end of every visit.

6. Orders and Service Fees

a. Orders

Upon placing an instruction to effect a trade using the Services (an “Order”), your Account will be updated to reflect the open Order and your Order will be included in BitShares blockchain order book for matching with Orders from other Users. The history of all transactions can be found in the BitShares blockchain https://ex.xbts.io/#/explorer/blocks or blockexplorer https://www.cryptofresh.com/ . If all or a portion of your Order is matched with another User, the Services will execute an exchange (a “Trade”). Upon execution of a Trade, your Account will be updated to reflect that the Order has either been closed due to having been fully executed, or canceled.

b. Gateway

XBTS DEX Gateway are basically equivalent to the standard exchange model where you depend on the solvency of the exchange to be able to redeem your digital assets. Generally gateways issue assets prefixed with their symbol, like XBTSX (https://wallet.BitShares.org/#/help/gateways/xbtsx ). These assets are backed 100% by the real BTC or ETH or any other digital assets that people deposit with the gateways.

An XBTSX.BTC is thus in theory equivalent to the BTC you get on Poloniex, which could be prefixed POLO.BTC. In both cases you rely on the service provider, CCEDK for XBTSX. assets and Poloniex for POLO. assets, to remain solvent in order to back the value of the assets they've issued. Read More: https://wallet.BitShares.org/#/help/introduction/bridges_gateways

c. Cancellations

You may only cancel an order initiated via the Services if such cancellation occurs before your Order has been matched with an Order from another user. Once your Order has been matched with an Order from another user, you may not change, withdraw, or cancel to complete such Order. In each case deducting any BitShares blockchain fees payable to BitShares, if you will use BTS or XBTSX. assets in connection with the trade as described in subsection (c) below).

d. Fees

You agree to pay BitShares the fees set forth at https://ex.xbts.io/#/explorer/fees which may be updated from time to time in BitShares’s sole discretion and XBTS the deposit and withdrawal fees. Any such updated fees will apply prospectively to any trades or other transactions that take place following the effective date of such updated fees. You authorize BitShares Blockchain to remove any amounts from your Account for any applicable fees owed by you under these Terms.

7. XBTS DEX SmartHolder

• https://xbts.io/ launched SmartHolder staking (https://app.xbts.io/#/smartholder) for https://xbts.io users to gain proceeds through idle digital assets.
• When you use SmartHolder, you will unconditionally authorize https://xbts.io/ to distribute the staking program interest according to the rules of the platform.
• You shall abide by the relevant laws to ensure that the sources of assets are legitimate and compliant when using SmartHolder staking program.
• When you use https://app.xbts.io/#/smartholder, you should fully recognize the risks of digital assets and operate cautiously.
• You agree that all operations conducted on https://ex.xbts.io/ represent your true intentions and that unconditionally accept the potential risks and benefits of your investment decisions.
• https://xbts.io/ does not take any responsibility if the final execution doesn’t match your expectations due to the above factors.

8. Liability

a. Disclaimer of Warranties

TO THE MAXIMUM EXTENT PERMITTED UNDER APPLICABLE LAW, THE SERVICES, THE XBTS DEX MATERIALS AND ANY PRODUCT, SERVICE OR OTHER ITEM PROVIDED BY OR ON BEHALF OF XBTS ARE PROVIDED ON AN “AS IS” AND “AS AVAILABLE” BASIS AND XBTS DEX EXPRESSLY DISCLAIMS, AND YOU WAIVE, ANY AND ALL OTHER WARRANTIES OF ANY KIND, WHETHER EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE OR NON-INFRINGEMENT OR WARRANTIES ARISING FROM COURSE OF PERFORMANCE, COURSE OF DEALING OR USAGE IN TRADE. WITHOUT LIMITING THE FOREGOING, XBTS DEX DOES NOT REPRESENT OR WARRANT THAT THE SITE, THE SERVICES OR XBTS DEX MATERIALS ARE ACCURATE, COMPLETE, RELIABLE, CURRENT, ERROR-FREE, OR FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS. XBTS DEX DOES NOT GUARANTEE THAT ANY ORDER WILL BE EXECUTED, ACCEPTED, RECORDED OR REMAIN OPEN. EXCEPT FOR THE EXPRESS STATEMENTS SET FORTH IN THIS AGREEMENT, YOU HEREBY ACKNOWLEDGE AND AGREE THAT YOU HAVE NOT RELIED UPON ANY OTHER STATEMENT OR UNDERSTANDING, WHETHER WRITTEN OR ORAL, WITH RESPECT TO YOUR USE AND ACCESS OF THE SERVICES. WITHOUT LIMITING THE FOREGOING, YOU HEREBY UNDERSTAND AND AGREE THAT XBTS DEX WILL NOT BE LIABLE FOR ANY LOSSES OR DAMAGES ARISING OUT OF OR RELATING TO: ANY INACCURACY, DEFECT OR OMISSION OF DIGITAL CURRENCY PRICE DATA, ANY ERROR OR DELAY IN THE TRANSMISSION OF SUCH DATA, INTERRUPTION IN ANY SUCH DATA AND ANY DAMAGES INCURRED BY ANOTHER USER’S ACTIONS, OMISSIONS OR VIOLATION OF THIS AGREEMENT. THE DISCLAIMER OF IMPLIED WARRANTIES CONTAINED HEREIN MAY NOT APPLY IF AND TO THE EXTENT IT IS PROHIBITED BY APPLICABLE LAW OF THE JURISDICTION IN WHICH YOU RESIDE.

b. Indemnification

You agree to indemnify and hold harmless XBTS DEX, its affiliates, contractors, licensors, and their respective directors, officers, employees and agents from and against any claims, actions, proceedings, investigations, demands, suits, costs, expenses and damages (including attorneys’ fees, fines or penalties imposed by any regulatory authority) arising out of or related to (i) your use of, or conduct in connection with, the Services, (ii) your breach or our enforcement of these Terms, or (iii) your violation of any applicable law, regulation, or rights of any third party during your use of the Service. If you are obligated to indemnify XBTS DEX, its affiliates, contractors, licensors, and their respective directors, officers, employees or agents pursuant to this clause, XBTS DEX will have the right, in its sole discretion, to control any action or proceeding and to determine whether XBTS DEX wishes to settle, and if so, on what terms.

9. Announcements

Please be aware that all official announcements, news, promotions, competitions and airdrops will be listed on https://community.smartholdem.io/category/98/xbts-news Announcements where we urge all users to refer to regularly. XBTS DEX will not be held liable or responsible in any manner of compensation should users incur personal losses arising from ignorance or negligence of the announcements.

10. No Financial Advice

XBTS DEX 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 XBTS DEX is intended as, or shall be considered or construed as, investment advice, financial advice, trading advice, or any other sort of advice. All trades are executed automatically in BitShares blockchain, 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 strategy or related transaction is appropriate for you based on your personal investment objectives, financial circumstances and risk tolerance. You should consult your legal or tax professional regarding your specific situation. XBTS DEX does not recommend that any Digital Assets should be bought, earned, sold, or held by you. Before making the decision to buy, sell or hold any Digital Assets, you should conduct your own due diligence and consult your financial advisors before making any investment decision. XBTS DEX will not be held responsible for the decisions you make to buy, sell, or hold Digital Assets based on the information provided by XBTS DEX.

11. Compliance with Local Laws

It is the responsibility of the User to abide by local laws in relation to the legal usage of XBTS DEX in their local jurisdiction. Users must also factor, to the extent of their local law all aspects of taxation, the withholding, collection, reporting and remittance to their appropriate tax authorities. All Users of XBTS DEX and any of its services acknowledge and declare that the source of their funds come from a legitimate manner and are not derived from illegal activities.

12. Miscellaneous

a. Independent Parties.

XBTS DEX is an independent contractor and not an agent of you in the performance of these Terms. These Terms not to be interpreted as evidence of an association, joint venture, partnership, or franchise between the parties.

b. Entire Agreement.

These Terms constitute the entire agreement between the parties regarding use of the Services and will supersede all prior agreements between the parties whether, written or oral. No usage of trade or other regular practice or method of dealing between the parties will be used to modify, interpret, supplement, or alter the terms of these Terms.

c. Force Majeure.

XBTS DEX will not be liable for any delay or failure to perform as required by these Terms because of any cause or condition beyond XBTS DEX reasonable control.

d. Severability.

If any portion of these Terms are held invalid or unenforceable, such invalidity or enforceability will not affect the other provisions of these Terms, which will remain in full force and effect, and the invalid or unenforceable portion will be given effect to the greatest extent possible.

e. Third-Party Website Disclaimer.

Any links to third-party websites from the Services does not imply endorsement by XBTS DEX of any products, services or information presented therein, nor does XBTS DEX guarantee the accuracy of the information contained on them. In addition, since XBTS DEX has no control over the terms of use or privacy practices of third-party websites, you should read and understand those policies carefully.