Last revised: 11 Jul, 2022
1.Acceptance of Terms
1.1 You are at least 18 years of age and have the full capacity to accept these Terms and enter into a transaction involving digital assets. You are not deprived of the right to use our service and have the full capacity for legal action. If you do not meet the above condition, please do not register at our Platforms, otherwise, the Company may suspend or terminate your account at any time.
1.2 Your entering into and performing these Terms are not prohibited by the laws and regulations of the country or region to which you belong, reside, pay tax, or carry out business activities or other business. If you do not meet the above conditions, you should immediately terminate the registration or stop using our Platforms’ services.
1.3 By completing the full registration process or continuing to use our Platforms' related services from time to time, you fully understand and accept the entirety of these Terms, as amended and published from time to time on the Platforms. The contents of these Terms include all the terms of these Terms and the various rules that have been released by our Platforms or may be released in the future. All the rules published on the Platforms from time to time are hereby expressly incorporated and form an integral part of these Terms and have the same legal effect as the body of these Terms.
1.4 Our Platforms have the right to modify these Terms from time to time or to formulate and modify various specific rules according to these Terms and publish them in the relevant system sections of Platforms without separately notifying you. You should pay attention to the changes in these Terms and the specific rules from time to time. If you continue to use the services after the changes in the content of these Terms and the specific rules, you are deemed to have fully read, understood, and accepted the amended Terms and the specific rules and to use the services of our Platforms in accordance therewith.
1.5 By accepting these Terms and/or accessing the services of our Platforms from your account (either personally or through another person) in accordance with these Terms and the relevant rules and instructions of our Platforms, these Terms shall have legal effect between you and Funex. These Terms do not cover legal relationships or legal disputes between you and other users of our Platforms as a result of network services or transactions if any.
1.6 You also agree that Funex may, by giving notice, at its sole discretion immediately terminate your access to our Platforms and to your account. You agree and acknowledge our right to limit, suspend or terminate the service and your user account, prohibit your access to our Platforms and their content, services, and tools, delay or remove hosted content, and take technical and legal steps to keep you off our Platforms or any further steps to recover any loss or damages caused if we determine at our sole discretion that you are or may be in breach of any laws, regulations, the rights of third parties, or any of these Terms or Platform’s policies. Funex shall not be liable for any loss or damage caused to you or any third party as a result of exercising our rights under this clause.
2. Scope of Service and Your Rights and Obligations
2.1 Funex provides you with the service of trading one type of digital asset for another type of digital asset. We do not purchase or sell digital assets directly from or to users as principal. Our services do not provide users with the ability to trade one form of fiat currency for another form of fiat currency.
2.1.1 Users have the right to browse the digital currency real-time market and transaction information on our Platforms and have the right to submit digital currency trading instructions and complete digital currency trading through our Platforms.
2.1.2 Users have the right to view the information regarding their accounts on our Platforms and have the right to operate the functions provided by our Platforms.
2.1.3 Users have the right to participate in the website activities organized by our Platforms following the activity rules published by our Platforms and other services undertaken by our Platforms.
2.2 The user understands and agrees that our Platforms can adjust the service content, service type, and service form on the Platforms at any time according to the actual situation at our sole discretion. Our Platforms are not responsible for any negative impact or loss caused to you or any third party due to Platforms adjustments.
2.3 Depending on your country of residence, you may not be able to use all the functions of our Platforms. Without prejudice to our right of suspending certain services to users from a specific country, it is your responsibility to ensure that in accessing our Platforms and services, you are complying with the laws and regulations in your country of residence and/or the country in which you access our Platforms and services.
2.4 In order to access and use our services, you must create an account with Funex. You agree to:
（1）provide accurate, current, and complete information when creating the account;
（2）maintain and promptly update your account information to keep it accurate, complete, and current;
（3）maintain the security and confidentiality of your login credentials and restrict access to your account and your computer;
（4）promptly notify Funex if you discover or otherwise suspect any security breaches related to our Platforms;
（5）take responsibility for all activities that occur under your account and accept all risks of unauthorized access.
2.5 In order to provide services to users, our Platforms may use users’ personal information, non-personal information, and information provided by third parties (hereinafter collectively referred to as "user information"). Once the user registers, logs in, and uses our Platforms’ services, the user will be deemed to fully understand, agree, and accept the reasonable use of the user information by the Company including but not limited to collection, statistics, and analysis thereof.
2.6 You acknowledge that the status of the transaction confirmed by you on our Platforms in accordance with our Platforms’ service processes would be an explicit direction for our Platforms to conduct related transactions or operations for you. You agree that our Platforms have the right to deal with related matters in accordance with these Terms and/or relevant documents and rules in accordance with the relevant directions.
2.7 You are responsible for any disputes or losses caused by your failure to promptly modify or confirm the status of the transaction or failure to submit the relevant application. Our Platforms do not assume any responsibility.
3. Risks Disclosures and Acknowledgements
3.1 Loan and Margin Trading Risk Disclosures and Acknowledgements.
3.1.1 Funex launches a loan service to provide users with long/short margin trading services.
3.1.2 The maximum amount of coins borrowed by the user is determined by the highest loan multiple, and currently Funex supports up to 5 times margin trading services.
3.1.3 Funex provides risk management services for margin trading by monitoring and managing the risks of users' margin accounts in Funex.
3.1.4 When using margin trading, you unconditionally authorize Funex to take actions such as reducing the position, or even completely closing the position, when the user’s loan is due or the risk of the margin trading occurs, without liability whatsoever to you.
3.1.5 When using margin trading, you should abide by relevant national laws and ensure that the source of the transaction assets is legal and compliant. Users shall not use margin trading to commit any crime against the law of the country where you belong to, reside, pay taxes, carry out business activities, or any other activities. Crimes herein include but are not limited to money laundering.
3.1.6 When using margin trading, you should fully recognize the risks of digital asset investment and the risks of margin trading, exercise caution, and do your best.
3.1.7 You agree that all investment operations conducted at Funex represent your true willingness to invest and unconditionally accept the potential risks and benefits of investment decisions.
3.1.8 You understand that there may be fees and other related fees arising out of loan and margin trading, and agree to pay the corresponding fees according to the requirements of our Platforms published from time to time.
3.1.9 You agree that Funex retains the rights and authority to, at its sole discretion and without liability whatsoever to you or any third party, reduce the position, close the position, and automatically repay the risk control operation when the margin account is at risk, and unconditionally accepts the final result.
3.1.10 When using margin trading, if there is a position in the loan account asset < (lending assets + interest), the difference will be recorded as arrears incurred by you. As long as there are arrears outstanding, the use of the withdrawal function will be restricted without affecting
the transaction. The withdrawal function will be resumed after the arrears are repaid.
3.1.11 Funex reserves the right to suspend or terminate the business of loan and margin trading. When necessary, the Platforms may suspend or terminate the loan and leverage trading business at any time.
3.1.12 Due to unexpected problems such as system failure, network reasons, denial-of-service attacks, and other hacking attacks, abnormal transactions, market interruptions, or other possible abnormal conditions, we have the right to cancel the abnormal transaction results and roll back all the deals during a certain period of time according to the actual situation at our sole discretion without any liability whatsoever to you or any third party.
3.2 Perpetual Contract Risk Disclosures and Acknowledgements
3.2.1 Digital assets themselves are risky. The price of digital assets is prone to fluctuate, there is no limit for prices to go up and down, and there are unlimited transactions 24 hours a day, 7 days a week worldwide. Prices are easily affected by the control of the dealer and global news events, national policies, market demand and other factors. It may happen that prices rise several times a day, and prices may fall by half in one day. Due to the high leverage of the perpetual contract, you may suffer a large loss, so we strongly recommend that you participate in trading within the risk range that you can afford.
3.2.2 Due to unexpected problems such as system failure, network reasons, denial-of-service attacks and other hacking attacks, abnormal transactions, market interruptions, or other possible abnormal conditions, we have the right to cancel the abnormal transaction results and roll back all the deals during a certain period of time according to the actual situation at our sole discretion without any liability whatsoever to you or any third party.
3.2.3 We strictly prohibit any unfair trading practices. We have the right to warn against all unscrupulous behaviors such as maliciously manipulating prices, maliciously affecting trading systems, and, when necessary, to restrict transactions, suspend transactions, cancel transactions, reverse closed transactions, freeze accounts, rollback time transactions, etc., to eliminate adverse effects at our sole discretion without any liability whatsoever to you or any third party.
3.2.4 When your position margin cannot meet the Platform’s requirements, your position will be forced to close. If the price fluctuates drastically and loss is incurred after using all risk control methods, we shall have the right to recover the loss from you.
3.2.5 When the number of positions or the number of orders is too large and we believe that there may be serious risks to the system and other users, you understand and agree that we have the right to ask you to take measures such as cancellation, closing and other risk control measures. In addition, when we deem it necessary, we have the right to control the risk of individual accounts by limiting the total number of positions, limiting the total number of orders, limiting the opening of positions, withdrawing orders or forcibly closing positions at our sole discretion without any liability whatsoever to you or any third party.
4. Transaction & Fees
4.1 Our Platforms will provide services for your transactions, and collect necessary services or management fees, in accordance with these Terms, relevant documents, agreements and/or relevant rules and instructions on our Platforms during the service process. Please refer to the relevant documents and the rules and descriptions of the relevant pages of our Platforms which are hereby expressly incorporated into these Terms and may be amended from time to time.
4.2 You agree that our Platforms reserve the right to adjust the specific types and amounts of the aforementioned services or management fees from time to time and to make announcements and amendments in accordance with the Terms and related rules, and your continued access to our services constitutes your acceptance to the relevant rules in their latest forms.
5. Modification/Suspension/Termination of Service
5.1 These Terms shall remain in force unless unilaterally terminated by our Platforms or upon your application to terminate these Terms and with the consent of our Platforms. In the event that you violate these Terms, relevant rules, any laws or regulations, or we reasonably suspect that you are involved in illegal or inappropriate conduct in using our services, or at the request of government authorities, our Platforms reserve the right to, at our sole discretion and without any liability whatsoever to you, terminate these Terms, close your account, or restrict your use of our Platforms. However, our termination does not relieve you of your obligations under these Terms or other agreements generated on our Platforms.
5.2 If you find that a third person fraudulently misappropriated or misappropriated your user account and password, or any other circumstances that are not legally authorized, you should immediately notify our Platforms in an effective manner, requesting our Platforms to suspend the related services. All the liabilities, losses, damages, claims, costs or expenses arising from or in connection with use of your account, whether authorized or unauthorized, shall be borne by you.
5.3 In view of the particularity of the network service, you agree that our Platforms have the right to change, discontinue or terminate some or all of the network services at any time without prior notification nor any liability whatsoever to you or any third party.
5.4 You understand that our Platforms need to be repaired or maintained on a platform that provides network services (such as Internet sites, mobile networks, etc.) or related equipment on a regular or irregular basis. If such a situation causes the network service to be interrupted within a reasonable period of time, our Platforms shall provide notice as soon as practicable but shall not be responsible for any loss, damage, claim or liability otherwise arising therefrom.
5.5 Our Platforms have the right to stop, suspend or terminate all or part of the services under these Terms without notice, to take any mitigation or interlocutory measures (including without limitation to canceling or reversing transactions and freezing accounts), and to remove or delete the registration data, at our sole discretion without any liability whatsoever to you or any third party. Without prejudice to the generality of the above, we may seek to enforce our right in the following scenarios:
（1）Our Platforms believe that the personal data you provide is not authentic, valid or complete;
（2）Our Platforms discover or suspect an abnormal or illegal transaction or unusual activities on your part;
（3）Our Platforms consider that your account is suspected of money laundering, cashing, pyramid schemes, fraudulent use or other situations that our Platforms consider to be risky;
（4）Our Platforms believe that you have violated these Terms;
（5）If you use the fee-based network service, you do not pay the corresponding service fee to our Platforms as required;
（6）We detect unauthorized access to your account, or your account is subject to a governmental proceeding, criminal/regulatory investigation or any pending litigation;
（7）Other circumstances in which at our Platforms’ sole discretion, it is necessary to suspend, interrupt or terminate all or part of the services under these Terms and remove or delete the registration data.
5.6 You agree that the suspension, interruption or termination of your account or any other measures taken by us pursuant to the preceding clause does not release you from your liability, and you shall be liable for possible breach of contract or damages or any other cause of action during your use of the Platform's services, and our Platforms may retain your information.
5.7 If the account of the free network service you registered is not actually used for any consecutive 90 days, our Platforms have the right to delete the account and stop providing relevant network services for you.
6. Rules of Use
6.1 [Account Information Content Specification]
（1）When applying for the Platforms’ service, you should provide accurate personal information in accordance with the relevant rules of the platform. If there is any change in personal data, you should update it in time.
（2）You should not transfer or lend your account number or password to others. If you find that others have illegally used your account, you should immediately notify the Platforms. Our Platforms do not assume any responsibility for the illegal use of accounts and passwords due to viruses, hacking or negligence of users.
6.2 [Service Operation Specifications]
6.2.1 Users shall abide by the provisions of laws, regulations, rules, regulatory documents and policy requirements to ensure the legality of all digital currency sources in the account. You may not engage in the following acts during the use of our Platforms and related services, except as permitted by law or with the written permission of the Platforms:
（1）Use the Platforms’ service to conduct any behavior that may adversely affect the normal operation of the internet or mobile network;
（2）Upload, display or disseminate any false, harassing, slanderous, abusive, intimidating, vulgar information or speeches or any other information or speeches in violation of laws and regulations, by using the web services provided by the Platforms.
（3）Use the Platforms’ service system to conduct any behavior that is not conducive to the Platforms;
（4）Infringe on the legal rights of third parties, such as reputation rights, portrait rights, intellectual property rights, trade secrets, etc. or infringe on the commercial interests of anyone;
（5）Induce other users to click on the link page or share information, or use the Platforms’ accounts and any features, as well as third-party operating platforms, for promotional purposes without written permission from the Platforms, or to publish commercials that are not licensed by the Platforms;
（6）Produce or publish methods or tools related to the above acts, or operate or disseminate the methods or tools, whether or not they are for commercial purposes;
（7）Other breach or potential breach of laws and regulations, rights of any third party, interference with the normal operation of the Platforms.
6.2.2 The user promises to comply with all the digital currency trading rules of the Platforms including but not limited to the following:
（1）Browse transaction information
When users browse digital currency transaction information on the Platforms, they should carefully read all the content contained in the transaction information, including but not limited to digital currency price, request amount, handling fee, buying or selling direction, and the users shall fully accept all the content contained in the transaction information before entering into a transaction by clicking the button.
（2）Submit a request
The user can submit a transaction request after checking and confirming the transaction information. After the user submits the transaction request, that is, the user authorizes our Platforms to perform the corresponding matching transaction on behalf of the user, our Platforms will automatically complete the matching transaction when there is a transaction satisfying the user’s requested price without notifying the user in advance.
（3）View transaction details
The user can view the corresponding transaction record through the account transaction details to confirm their detailed transaction records.
（4）Cancellation / modification of request
The user has the right to revoke or modify the request at any time before the matching transaction is executed.
6.3 Our Platforms have the right to review and supervise your use of the Platforms’ services (including but not limited to approving the content stored on our Platforms by you). If you use the Platforms’ services in violation of any of the above provisions, our Platforms have the right to ask you to remedy your breach (if possible) or directly take all necessary measures (including but not limited to changing or deleting the content you posted, suspending or terminating your right to use the services) to mitigate the impact of your conduct.
6.4 Orders you place on Funex during regular operation will normally be executed if the market price is at a point within the limits of your order. However, we do not guarantee that your order will be filled even if the market price was within your limit at the time such order was placed or was otherwise open. Orders you place on Funex during planned or unplanned downtime will be processed on a commercially reasonable effort basis once we resume operations. Funex reserves the right to reject or cancel orders made and/or pending during downtime.
6.5 Orders may be subject to, and Funex shall have no liability for, delays, difficulties, and/or conditions affecting transmission or execution of orders over which Funex has no control, including, but not limited to, mechanical or electronic failure or market congestion.
7. Intellectual Property
7.1 All content on our Platforms is the property of Funex and is protected by copyright, patent, trademark and any other applicable laws, unless otherwise specified hereby.
7.2 The trademarks, trade names, service marks and logos of Funex and others used on our Platforms are the property of Funex and its respective owners. The software, applications, text, images, graphics, data, prices, trades, charts, graphs, video and audio materials used on our Platforms belong to Funex. The trademarks and other content on our Platforms should not be copied, reproduced, modified, republished, uploaded, posted, transmitted, scraped, collected or distributed in any form or by any means, no matter manual or automated.
7.3 The use of any content from our Platforms on any other site or a networked computer environment for any other purpose is strictly prohibited; any such unauthorized use may violate copyright, patent, trademark and any other applicable laws and could result in criminal or civil penalties.
7.4 Funex is a trademark owned by the Company and allows no unauthorized use by any user or third parties.
7.5 Funex supports the protection of intellectual property. If you would like to submit (i) a trademark claim for violation of a mark on which you hold a valid, registered trademark or service mark, or (ii) a copyright claim for material on which you hold a bona fide copyright, please send us an email to [email protected]
Once the user registers, logs in, and uses our Platforms’ services, the user will be deemed to fully understand, agree and accept our Platforms’ privacy agreement.
9. Disclaimer of Liability
Our Platforms are not giving investment advice, tax advice, legal advice, or other professional advice by allowing you to use our services or providing the services herein, the ability to purchase or sell digital assets or the storage of digital assets, and we do not recommend, or endorse that you purchase or sell digital assets, or make any investment. Before engaging in any transaction or investment activity, you should consult a qualified professional.
The services that we provide through Funex are provided to you on a strictly “as is,” “where is” and “where available” basis. The company does not represent or warrant to the accuracy, completeness, currentness, non-infringement, merchantability, or fitness for a particular purpose of Funex or the information contained therein or services contained thereon. The company shall not be liable to you or anyone else for any loss or injury resulting directly or indirectly from your use of Funex or any services provided by Funex, including any loss caused in whole or part by any inaccuracies or incompleteness, delays, interruptions, errors or omissions, including, but not limited to, those arising from the negligence of the company or contingencies beyond their control in procuring, compiling, interpreting, computing, reporting, or delivering Funex, the services thereon or the information therein. In no event will the company be liable to you or anyone else for any decision made or action taken by you in reliance on, or in connection with your use of Funex, the services thereon or the information therein.
In no event will the company be liable to you, whether in contract or tort, for any direct, special, indirect, consequential or incidental damages or any other damages of any kind even if the company has been advised of the possibility thereof. This limitation on liability includes, but is not limited to, the transmission of any viruses which may infect a user’s equipment, failure of mechanical or electronic equipment or communication lines, telephone or other interconnect problem, unauthorized access, theft, operator errors, strikes or other labor problems or any force majeure. We cannot and do not guarantee continuous, uninterrupted or secure access to Funex.
10.1 Digital assets transactions may be subject to high risks.
10.1.1 The risk of loss in trading digital assets may be substantial and losses may occur over a short period of time.
10.1.2 The price and liquidity of digital assets have been subject to large fluctuations in the
past and may be subject to large fluctuations in the future.
10.2 You acknowledge that you are solely responsible for determining the nature, potential value, suitability, and appropriateness of these risks for you, and that Funex does not give advice or recommendations.
10.3 Legislative and regulatory changes or actions at the state, federal or international level may adversely affect the use, transfer, exchange and value of digital assets.
You agree to defend, indemnify and hold harmless Funex from any claim, demand, action, damage, loss, cost or expense, including without limitation reasonable attorneys’ fees, arising out or relating to your violation of these Terms; or your violation of any laws, rules or regulations; or your violation of any rights of any other person or entity; or your use of all or part of the services provided by the Platforms.
12.1 Notices under these Terms are made by way of public notice and are deemed to have been served as soon as they are published on our Platforms. In addition, other proprietary notices that are posted to you personally will be provided by our Platforms to the email address provided by you at the time of registration, or the in-site message in your personal account, or to the mobile phone provided to our Platforms after your registration. Once sent, it will be deemed to have been delivered. Please pay close attention to your email address, emails in the message system of the site, messages and SMS messages in your mobile phone.
12.2 You understand and agree that all communication with you will be via electronic communication, including emails, site messages and SMS, and we will use those means to provide you with account-related notices and order receipts. To ensure that you receive all of our communications, you agree to keep your email address up-to-date and notify us immediately if there is any change. Delivery of any notice to the email address/mobile number on record with your user account will be considered valid. If any email is returned as undeliverable, we retain the right to block access to your user account until you provide and confirm a new email address.
13. Disclosures to Legal Authorities and Authorized Financial Institutions
13.1 We may share your personal data with law enforcement agents, data protection authorities, government officials, and other authorities when:
13.1.1 required by law;
13.1.2 compelled by subpoena, court order, or other legal procedure;
13.1.3 we believe that disclosure is necessary to prevent damage or financial loss;
13.1.4 disclosure is necessary to report suspected illegal activity;
13.1.5 disclosure is necessary to investigate violations of these terms.
These Terms shall be governed by and construed in accordance with the laws of the Republic of Samoa. The courts of Samoa shall have exclusive jurisdiction to settle any dispute arising from or connected with these Terms (including a dispute relating to the existence, validity or termination of these Terms or the consequences of their nullity or any non-contractual obligation arising out of or in connection with these Terms).
Our Platforms reserve the right of final interpretation of these Terms within the scope permitted by law. These Terms and related pages of our Platforms may refer to each other. If there is any conflict, these Terms shall prevail. In addition, if some of the provisions in these Terms are deemed invalid or unenforceable, the other provisions in these Terms will remain in effect.