Terms of services

These Aax Terms of Use is entered into between you (hereinafter referred to as “you” or “your”) and Aax operators (as defined below). By accessing, downloading, using or clicking on “I agree” to accept any Aax Services (as defined below) provided Aax (as defined below), you agree that you have read, understood and accepted all of the terms and conditions stipulated in these Terms of Use (hereinafter referred to as “these Terms”) as well as our Privacy Policy at www.Aax.us.com/privacy-policy. In addition, when using some features of the Services, you may be subject to specific additional terms and conditions applicable to those features.

Please read the terms carefully as they govern your use of Aax Services.THESE TERMS CONTAIN IMPORTANT PROVISIONS INCLUDING AN ARBITRATION PROVISION THAT REQUIRES ALL CLAIMS TO BE RESOLVED BY WAY OF LEGALLY BINDING ARBITRATION.The terms of the arbitration provision are set forth in Article 10, “Resolving Disputes: Forum, Arbitration, Class Action Waiver”, hereunder. As with any asset, the values of Digital Currencies (as defined below) may fluctuate significantly and there is a substantial risk of economic losses when purchasing, selling, holding or investing in Digital Currencies and their derivatives.BY MAKING USE OF AAX SERVICES, YOU ACKNOWLEDGE AND AGREE THAT: (1) YOU ARE AWARE OF THE RISKS ASSOCIATED WITH TRANSACTIONS OF DIGITAL CURRENCIES AND THEIR DERIVATIVES; (2) YOU SHALL ASSUME ALL RISKS RELATED TO THE USE OF AAX SERVICES AND TRANSACTIONS OF DIGITAL CURRENCIES AND THEIR DERIVATIVES; AND (3) AAX SHALL NOT BE LIABLE FOR ANY SUCH RISKS OR ADVERSE OUTCOMES.

By accessing, using or attempting to use Aax Services in any capacity, you acknowledge that you accept and agree to be bound these Terms. If you do not agree, do not access Aax or utilize Aax services.

If you would like to know more about the risks associated with investing in or trading Digital Assets, you can access our General Risk Warning at www.Aax.us.com/en/risk-warning.

I. Definitions

1. Aax refers to an ecosystem comprising Aax websites (whose domain names include but are not limited to https://www.Aax.exchange), mobile applications, clients, applets and other applications that are developed to offer Aax Services, and includes independently-operated platforms, websites and clients within the ecosystem (e.g. Aax’s Open Platform, Aax Launchpad, Aax Labs, Aax Charity, Aax DEX, Aax X, JEX, Trust Wallet, and fiat gateways). In case of any inconsistency between relevant terms of use of the above platforms and the contents of these Terms, the respective applicable terms of such platforms shall prevail.

2. Aax Accounts refer to the foundational virtual accounts, including main accounts and subaccounts, which are opened Aax for Users to record on Aax their usage of Aax Services, transactions, asset changes and basic information. Aax Accounts serve as the basis for Users to enjoy and exercise their rights on Aax.

3. Aax Operators refer to all parties that run Aax, including but not limited to legal persons (including Aax UAB), unincorporated organizations and teams that provide Aax Services and are responsible for such services. For convenience, unless otherwise stated, references to “Aax” and “we” in these Terms specifically mean Aax Operators. UNDER THESE TERMS, AAX OPERATORS MAY CHANGE AS AAX‘S BUSINESS ADJUSTS, IN WHICH CASE, THE CHANGED OPERATORS SHALL PERFORM THEIR OBLIGATIONS UNDER THESE TERMS WITH YOU AND PROVIDE SERVICES TO YOU, AND SUCH CHANGE DOES NOT AFFECT YOUR RIGHTS AND INTERESTS UNDER THESE TERMS. ADDITIONALLY, THE SCOPE OF AAX OPERATORS MAY BE EXPANDED DUE TO THE PROVISION OF NEW AAX SERVICES, IN WHICH CASE, IF YOU CONTINUE TO USE AAX SERVICES, IT IS DEEMED THAT YOU HAVE AGREED TO JOINTLY EXECUTE THESE TERMS WITH THE NEWLY ADDED AAX OPERATORS. IN CASE OF A DISPUTE, YOU SHALL DETERMINE THE ENTITIES BY WHICH THESE TERMS ARE PERFORMED WITH YOU AND THE COUNTERPARTIES OF THE DISPUTE, DEPENDING ON THE SPECIFIC SERVICES YOU USE AND THE PARTICULAR ACTIONS THAT AFFECT YOUR RIGHTS OR INTERESTS.

4. Aax Services refer to various services provided to you Aax that are based on Internet and/or blockchain technologies and offered via Aax websites, mobile applications, clients and other forms (including new ones enabled future technological development). Aax Services include but are not limited to such Aax ecosystem components as Digital Asset Trading Platforms, the financing sector, Aax Labs, Aax Academy, Aax Charity, Aax Info, Aax Launchpad, Aax Research, Aax Chain, Aax X, Aax Fiat Gateway, existing services offered Trust Wallet and novel services to be provided Aax.

5. Aax Platform Rules refer to all rules, interpretations, announcements, statements, letters of consent and other contents that have been and will be subsequently released Aax, as well as all regulations, implementation rules, product process descriptions, and announcements published in the Help Center or within products or service processes.

6. BUSD means Aax USD, a US dollar denominated and backed stablecoin managed Paxos Trust Company, LLC.

7. Collateral Accounts refer to special accounts opened Users on Aax to deposit and withdraw collateral (such as margins) in accordance with these Terms (including the Aax Contract Services Agreement and Aax Platform Rules), as required for contract transactions, leveraged trading and/or currency borrowing services.

8. Conversion Inception Date means the date, specified Aax, on which the Designated Stablecoin Conversion will commence.

9. Crypto-to-crypto Trading refers to spot transactions in which one digital currency is exchanged for another digital currency.

10. Designated Stablecoin means each of USD Coin (USDC), Pax Dollar (USDP), TrueUSD (TUSD) and any other Digital Asset Aax may designate as such from time to time, provided that Aax may remove any Digital Asset from the scope of this definition at any time without prior notice.

11. Designated Stablecoin Conversion means, in respect of each Designated Stablecoin, the automatic conversion of that Designated Stablecoin into BUSD upon deposit or transfer into your Aax Account or the conversion of BUSD into that Designated Stablecoin in connection with a withdrawal request.

12. Digital Currencies refer to encrypted or digital tokens or cryptocurrencies with a certain value that are based on blockchain and cryptography technologies and are issued and managed in a decentralized form.

13. Digital Assets refer to Digital Currencies, their derivatives or other types of digitalized assets with a certain value.

14. Fiat Trading refers to spot transactions in which Digital Currencies are exchanged for fiat currencies or vice versa.

15. KYC refers to the “know-your-customer” process that Aax has put in place before entering into a business relationship or conducting transactions with its Users. As part of this process, Aax may do anything that it deems necessary in order to identify Users, verify their identity, scrutinize and investigate User transactions, or comply with any applicable law or regulation.

16. Loan/Lending refers to Aax‘s lending of Digital Currencies to Users at an interest collected in certain ways (in the form of Digital Currencies), including but not limited to the leveraged trading and currency lending services currently offered, and other forms of loan/lending services to be launched Aax.

17. Users refer to all individuals, institutions or organizations that access, download or use Aax or Aax Services and who meet the criteria and conditions stipulated Aax. If there exist other agreements for such entities as developers, distributors, market makers, and Digital Currencies exchanges, such agreements shall be followed.

II. General Provisions

1. About These Terms

a. Contractual Relationship

These Terms constitute a legal agreement and create a binding contract between you and Aax Operators.

b. Supplementary Terms

Due to the rapid development of Digital Currencies and Aax, these Terms between you and Aax Operators do not enumerate or cover all rights and obligations of each party, and do not guarantee full alignment with needs arising from future development. Therefore,THE PRIVACY POLICY (（）), AAX PLATFORM RULES, AND ALL OTHER AGREEMENTS ENTERED INTO SEPARATELY BETWEEN YOU AND AAX ARE DEEMED SUPPLEMENTARY TERMS THAT ARE AN INTEGRAL PART OF THESE TERMS AND SHALL HAVE THE SAME LEGAL EFFECT. YOUR USE OF Aax SERVICES IS DEEMED YOUR ACCEPTANCE OF THE ABOVE SUPPLEMENTARY TERMS.

c. Changes to These Terms

Aax reserves the right to change or modify these Terms in its discretion at any time. Aax will notify such changes updating the terms on its website () and modifying the [Last revised] date displayed on this page.。ANY AND ALL MODIFICATIONS OR CHANGES TO THESE TERMS WILL BECOME EFFECTIVE UPON PUBLICATION ON THE WEBSITE OR RELEASE TO USERS. THEREFORE, YOUR CONTINUED USE OF AAX SERVICES IS DEEMED YOUR ACCEPTANCE OF THE MODIFIED AGREEMENT AND RULES. IF YOU DO NOT AGREE TO ANY CHANGES TO THESE TERMS, YOU MUST STOP USING AAX SERVICES IMMEDIATELY. YOU ARE RECOMMENDED TO FREQUENTLY REVIEW THESE TERMS TO ENSURE YOUR UNDERSTANDING OF THE TERMS AND CONDITIONS THAT APPLY TO YOUR ACCESS TO AND USE OF AAX SERVICES.

d. Prohibition of Use

BY ACCESSING AND USING AAX SERVICES, YOU REPRESENT AND WARRANT THAT YOU HAVE NOT BEEN INCLUDED IN ANY TRADE EMBARGOES OR ECONOMIC SANCTIONS LIST (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. AAX RESERVES THE RIGHT TO CHOOSE MARKETS AND JURISDICTIONS TO CONDUCT BUSINESS, AND MAY RESTRICT OR REFUSE, IN ITS DISCRETION, THE PROVISION OF AAX SERVICES IN CERTAIN COUNTRIES OR REGIONS.

2. About Aax

As an important part of the Aax Ecosystem, Aax mainly serves as a global online platform for Digital Assets trading, and provides Users with a trading platform, financing services, technical services and other Digital Assets-related services. As further detailed in Article 3 below, Users must register and open an account with Aax, and deposit Digital Assets into their account prior to trading. Users may, subject to the restrictions set forth in these Terms, apply for the withdrawal of Digital Assets.

Although Aax has been committed to maintaining the accuracy of the information provided through Aax Services, Aax cannot and does not guarantee its accuracy, applicability, reliability, integrity, performance or appropriateness, nor shall Aax be liable for any loss or damage that may be caused directly or indirectly your use of these contents. The information about Aax Services may change without notice, and the main purpose of providing such information is to help Users make independent decisions. Aax does not provide investment or consulting advice of any kind, and is not responsible for the use or interpretation of information on Aax or any other communication medium. All Users of Aax Services must understand the risks involved in Digital Assets trading, and are recommended to exercise prudence and trade responsibly within their own capabilities.

3. Aax Account Registration and Requirements

a. Registration

All Users must apply for a Aax Account at (https://dashboard.Aax.us/register) before using Aax Services. When you register a Aax Account, you must provide the information identified in this paragraph 3 or otherwise as requested Aax, and accept these Terms, the Privacy Policy, and other Aax Platform Rules. Aax may refuse, in its discretion, to open a Aax Account for you. You agree to provide complete and accurate information when opening a Aax Account, and agree to timely update any information you provide to Aax to maintain the integrity and accuracy of the information. Each User (including natural person, business or legal entity) may maintain only one main account at any given time. However, Users can open one or more subaccounts under the main account with the consent of Aax. For certain Aax Services, you may be required to set up a specific account independent from your Aax Account, based on the provisions of these Terms or the Supplementary Terms. The registration, use, protection and management of such trading accounts are equally governed the provisions of this Section and Section VI, unless otherwise stated in these Terms or the Supplementary Terms.

b. Eligibility

By registering to use a Aax Account, you represent and warrant that: (i) as an individual, you are at least 18 or are of legal age to form a binding contract under applicable laws; (ii) as an individual, legal person, or other organization, you have full legal capacity and sufficient authorizations to enter into these Terms; (iii) you have not been previously suspended or removed from using the Aax Platform or the Aax Services; (iv) you do not have an existing Aax Account; (v) you are not resident, located in or otherwise attempting to access the Aax Platform or the Aax Services from, or otherwise acting on behalf of a person or legal entity that is resident or located in, a Restricted Location. For the purposes hereof, “Restricted Location” shall include the United States, Malaysia, Ontario (Canada), and such other locations as designated Aax Operators from time to time as a “Restricted Location” for the purposes hereof; (vi) if you act as an employee or agent of a legal entity, and enter into these Terms on their behalf, you represent and warrant that you have all the necessary rights and authorizations to bind such legal entity and to access and use the Aax Platform and Aax Services on behalf of such legal entity; and (vii) your use of the Aax Platform and the Aax Services will not violate any and all laws and regulations applicable to you or the legal entity on whose behalf you are acting, including but not limited to regulations on anti-money laundering, anti-corruption, and counter-terrorist financing.

Please note that there are legal requirements in various countries which may restrict the products and services that Aax Operators can lawfully provide. Accordingly, some products and services and certain functionality within the Aax Platform may not be available or may be restricted in certain jurisdictions or regions or to certain users. You shall be responsible for informing yourself about and observing any restrictions and/or requirements imposed with respect to the access to and use of the Aax Platform and the Aax Services in each country from which the Aax Platform and the Aax Services are accessed you or on your behalf. Aax Operators reserve the right to change, modify or impose additional restrictions with respect to the access to and use of the Aax Platform and/the Aax Services from time to time at their discretion at any time without prior notification.

c. User Identity Verification

Your registration of an account with Aax will be deemed your agreement to provide required personal information for identity verification. Such information will be used to verify Users’ identity, identify traces of money laundering, terrorist financing, fraud and other financial crimes through Aax, or for other lawful purposes stated Aax. We will collect, use and share such information in accordance with our Privacy Policy. In addition to providing such information, you agree to allow us to keep a record of that information during the period for which your account is active and within five (5) years after your account is closed, in compliance with global industry standards on data storage. You also authorize us to conduct necessary investigations directly or through a third party to verify your identity or protect you and/or us from financial crimes, such as fraud. The information we require to verify your identity may include, but is not limited to, your name, email address, contact information, phone number, username, government-issued ID, date of birth, and other information collected during account registration. When providing the required information, you confirm it is true and accurate.AFTER REGISTRATION, YOU MUST ENSURE THAT THE INFORMATION IS TRUE, COMPLETE, AND TIMELY UPDATED WHEN CHANGED. IF THERE ARE ANY GROUNDS FOR BELIEVING THAT ANY OF THE INFORMATION YOU PROVIDED IS INCORRECT, FALSE, OUTDATED OR INCOMPLETE, AAX RESERVES THE RIGHT TO SEND YOU A NOTICE TO DEMAND CORRECTION, DIRECTLY DELETE THE RELEVANT INFORMATION, AND, AS THE CASE MAY BE, TERMINATE ALL OR PART OF AAX SERVICES WE PROVIDE FOR YOU. IF WE ARE UNABLE TO REACH YOU WITH THE CONTACT INFORMATION YOU PROVIDED, YOU SHALL BE FULLY LIABLE FOR ANY LOSS OR EXPENSE CAUSED TO AAX DURING YOUR USE OF AAX SERVICES. YOU HEREBY ACKNOWLEDGE AND AGREE THAT YOU HAVE THE OBLIGATION TO UPDATE ALL THE INFORMATION IF THERE IS ANY CHANGE.BY REGISTERING AN ACCOUNT, YOU HEREBY AUTHORIZE AAX TO CONDUCT INVESTIGATIONS THAT AAX CONSIDERS NECESSARY, EITHER DIRECTLY OR THROUGH A THIRD PARTY, TO VERIFY YOUR IDENTITY OR PROTECT YOU, OTHER USERS AND/OR AAX FROM FRAUD OR OTHER FINANCIAL CRIMES, AND TO TAKE NECESSARY ACTIONS BASED ON THE RESULTS OF SUCH INVESTIGATIONS. YOU ALSO ACKNOWLEDGE AND AGREE THAT YOUR PERSONAL INFORMATION MAY BE DISCLOSED TO CREDIT BUREAUS AND AGENCIES FOR FRAUD PREVENTION OR FINANCIAL CRIME PREVENTION, WHICH MAY RESPOND TO OUR INVESTIGATIONS IN FULL.

d. Account Usage Requirements

The Aax Account can only be used the account registrant. Aax reserves the right to suspend, freeze or cancel the use of Aax Accounts persons other than account registrant. If you suspect or become aware of any unauthorized use of your username and password, you should notify Aax immediately. Aax assumes no liability for any loss or damage arising from the use of Aax Account you or any third party with or without your authorization.

e. Account Security

Aax has been committed to maintaining the security of User entrusted funds, and has implemented industry standard protection for Aax Services. However, the actions of individual Users may pose risks. You shall agree to treat your access credentials (such as username and password) as confidential information, and not to disclose such information to any third party. You also agree to be solely responsible for taking the necessary security measures to protect your Aax Account and personal information.

You should be solely responsible for keeping safe of your Aax Account and password, and be responsible for all the transactions under your Aax Account. Aax assumes no liability for any loss or consequences caused authorized or unauthorized use of your account credentials, including but not limited to information disclosure, information release, consent or submission of various rules and agreements clicking on the website, online agreement renewal, etc.

By creating a Aax Account, you hereagree that:

1. you will notify Aax immediately if you are aware of any unauthorized use of your Aax Account and password or any other violation of security rules;
2. you will strictly abide all mechanisms or procedures of Aax regarding security, authentication, trading, charging, and withdrawal; and
3. you will take appropriate steps to logout from Aax at the end of each visit.

III. AAX Services

Upon completion of the registration and identity verification for your Aax Account, you may use various Aax Services, including but not limited to, Crypto-to-crypto Trading, Fiat Trading, contract trading, leveraged trading, Aax Savings services, staking, acquiring market-related data, research and other information released Aax, participating in User activities held Aax, etc., in accordance with the provisions of these Terms (including Aax Platform Rules and other individual agreements). Aax has the right to:

• Provide, modify or terminate, in its discretion, any Aax Services; and
• Allow or prohibit some Users’ use of any Aax Services in accordance with relevant Aax Platform Rules.Aax

Aax has the exclusive authority to determine which Digital Assets are listed on the platform and may add or remove Digital Assets from the platform in its sole discretion, from time to time. Aax may also change the order size available for each Digital Asset. In respect of such additions, removals, or amendments, Aax may, but is not obliged to, notify Users in advance and Aax shall have no liability to Users in connection with such additions, removals or amendments.

1. Service Usage Guidelines

a. License

Provided that you constantly comply with the express terms and conditions stated in these Terms, Aax grants you a revocable, limited, royalty-free, non-exclusive, non-transferable, and non-sublicensable license to access and use Aax Services through your computer or Internet compatible devices for your personal/internal purposes. You are prohibited to use Aax Services for resale or commercial purposes, including transactions on behalf of other persons or entities. All the above actions are expressly prohibited and constitute a material violation of these Terms. The content layout, format, function and access rights regarding Aax Services should be stipulated in the discretion of Aax. Aax reserves all rights not expressly granted in these Terms. Therefore, you are hereprohibited from using Aax Services in any way not expressly authorized these Terms.

These Terms only grant a limited license to access and use Aax Services. Therefore, you hereagree that when you use Aax Services, Aax does not transfer Aax Services or the ownership or intellectual property rights of any Aax intellectual property to you or anyone else. All the text, graphics, user interfaces, visual interface, photos, sounds, process flow diagrams, computer code (including html code), programs, software, products, information and documents, as well as the design, structure, selection, coordination, expression, look and feel, and layout of any content included in the services or provided through Aax Services, are exclusively owned, controlled and/or licensed Aax Operators or its members, parent companies, licensors or affiliates.

Aax owns any feedback, suggestions, ideas, or other information or materials (hereinafter collectively referred to as “Feedback”) about Aax or Aax Services that you provide through email, Aax Services, or other ways. You heretransfer all rights, ownership and interests of the Feedback and all related intellectual property rights to Aax. You have no right and herewaive any request for acknowledgment or compensation based on any Feedback, or any modifications based on any Feedback.

b. Restriction

When you use Aax Services, you agree and undertake to comply with the following provisions:

1. During the use of Aax Services, all activities you carry out should comply with the requirements of applicable laws and regulations, these Terms, and various guidelines of Aax;
2. Your use of Aax Services should not violate public interests, public morals, or the legitimate interests of others, including any actions that would interfere with, disrupt, negatively affect, or prohibit other Users from using Aax Services;
3. You agree not to use the services for market manipulation (such as pump and dump schemes, wash trading, self-trading, front running, quote stuffing, and spoofing or layering, regardless of whether prohibited law);
4. Without written consent from Aax, the following commercial uses of Aax data are prohibited:1) Trading services that make use of Aax quotes or market bulletin board information.2) Data feeding or streaming services that make use of any market data of Aax.3) Any other websites/apps/services that charge for or otherwise profit from (including through advertising or referral fees) market data obtained from Aax.
5. Without prior written consent from Aax, you may not modify, replicate, duplicate, copy, download, store, further transmit, disseminate, transfer, disassemble, broadcast, publish, remove or alter any copyright statement or label, or license, sub-license, sell, mirror, design, rent, lease, private label, grant security interests in the properties or any part of the properties, or create their derivative works or otherwise take advantage of any part of the properties.
6. Accounts left dormant for a month are automatically deactivated with the help of our automated system,You will have to make a valid deposit Transaction on your account to reactivate it,if left unattended to or refusal to reactivate your account with the genuine intended means,it will be subjected to account termination.
7. You may not (i) use any deep linking, web crawlers, bots, spiders or other automatic devices, programs, scripts, algorithms or methods, or any similar or equivalent manual processes to access, obtain, copy or monitor any part of the properties, or replicate or bypass the navigational structure or presentation of Aax Services in any way, in order to obtain or attempt to obtain any materials, documents or information in any manner not purposely provided through Aax Services; (ii) attempt to access any part or function of the properties without authorization, or connect to Aax Services or any Aax servers or any other systems or networks of any Aax Services provided through the services hacking, password mining or any other unlawful or prohibited means; (iii) probe, scan or test the vulnerabilities of Aax Services or any network connected to the properties, or violate any security or authentication measures on Aax Services or any network connected to Aax Services; (iv) reverse look-up, track or seek to track any information of any other Users or visitors of Aax Services; (v) take any actions that imposes an unreasonable or disproportionately large load on the infrastructure of systems or networks of Aax Services or Aax, or the infrastructure of any systems or networks connected to Aax services; (vi) use any devices, software or routine programs to interfere with the normal operation of Aax Services or any transactions on Aax Services, or any other person’s use of Aax Services; (vii) forge headers, impersonate, or otherwise manipulate identification, to disguise your identity or the origin of any messages or transmissions you send to Aax, or (viii) use Aax Services in an illegal way.
8. You may not lay false allegations that will defile our name,If we do find out that you making a false or illegal claims to criticize our company your account will be subjected to violation of our terms and action will be taken

By accessing Aax Services, you agree that Aax has the right to investigate any violation of these Terms, unilaterally determine whether you have violated these Terms, and take actions under relevant regulations without your consent or prior notice. Examples of such actions include, but are not limited to:

• Blocking and closing order requests;
• Freezing your account;
• Reporting the incident to the authorities;
• Publishing the alleged violations and actions that have been taken;
• Deleting any information you published that are found to be violations.

2. Crypto-to-crypto Trading

Upon completion of the registration and identity verification for your Aax Account, you may conduct Crypto-to-crypto Trading on Aax in accordance with the provisions of these Terms and Aax Platform Rules.

a. Orders

Upon sending an instruction of using Aax Services for Crypto-to-crypto Trading (an “Order”), your account will be immediately updated to reflect the open Orders, and your Orders will be included in Aax’s order book to match other users’ Orders. If one of your Orders fully or partially matches another user’s Order, Aax will execute an exchange (a “Transaction”). Once the Transaction is executed, your account will be updated to reflect that the Order has been fully executed and closed, or the Order has been partially executed. The Order will remain uncompleted until it is fully executed or cancelled under paragraph (b) below. To conclude a Transaction, you authorize Aax to temporarily control the Digital Currencies involved in your Transaction.

b. Cancellation

For Orders initiated through Aax Services, you may only cancel them before they have been matched with other Users’ Orders. Once your Order has been matched with another user’s Order, you may not change, revoke or cancel Aax’s authorization to complete the Order. For any partially matched Order, you may cancel the unmatched part of the Order unless such portion has been matched. Aax reserves the right to reject any cancellation request related to the Order you have submitted. If your account does not have sufficient amount of Digital Currencies to execute an Order, Aax may cancel the entire Order, or execute part of the Order with the amount of Digital Currencies you have in your account (in each case, any Transaction related fees payable to Aax are deducted as stated in paragraph (c) below).

c. Fees

You agree to pay Aax the fees specified in.Aax may, in its discretion, update the fees at any time. Any updated fees will apply to any sales or other Transactions that occur following the effective date of the updated fees. You authorize Aax to deduct from your account any applicable fees that you owe under these Terms.

d. Other Types of Crypto-to-crypto Trading

In addition to the Crypto-to-crypto Trading that allows users to directly place orders as mentioned in paragraph (a) above, Aax may, in its discretion, provide technical and platform services for other types of Crypto-to-crypto Trading under its separately formulated Aax Platform Rules, such as One Cancels the Other (OCO) and block trade.

3. Fiat Trading

Prior to conducting Fiat Trading, you shall separately read, agree to, and comply with:

a. the Terms of Use of Bifinity UAB;

b. the User Agreements with various third party service providers with which Aax has partnered to offer Fiat Trading services, and, if applicable, open an account with such partners, following the completion of the registration and identity verification for your Aax Account;

c. the Legal Statement, the Privacy Policy, and any other Aax Platform Rules related to Fiat Trading

If you choose to utilise Fiat Trading, you agree that Bifinity UAB (registration number: 305595206) having its registered office at Lvivo g. 25-104, Vilnius, Lithuania shall work in collaboration with regulated third party service providers to offer such services. Bifinity UAB is governed the laws of the Republic of Lithuania. A full list of Bifinity UAB partners can be found HERE.

Bifinity UAB is registered in accordance with the applicable laws of the Republic of Lithuania as virtual currency depository wallet operator and virtual currency exchange operator. For the avoidance of doubt please note that Bifinity UAB is not a licensed financial services provider. Cryptocurrency exchange and depository services provided Bifinity UAB are not regulated the Bank of Lithuania.

4. Futures Trading

Unless otherwise specified Aax, to conduct Futures Trading, you must conclude with Aax a separate Aax Futures Service Agreement and open a special Collateral Account, following the completion of registration and identity verification for your Aax Account. You acknowledge and agree that:

a. You fully understand the high risks of Futures Trading, including but not limited to the risk of major fluctuations of Digital Assets in Futures Trading, and the risk of exacerbated adverse outcome when leverage is used;

b. You have sufficient investment knowledge and experience and the capacity to take risks arising from Futures Trading, and agree to independently assume all the risks arising from the investment of Futures Trading;

c. Before performing Futures Trading, you have read and understood all the contents of the Aax Futures Service Agreement and the relevant Aax Platform Rules, and have consulted relevant professionals to make informed decisions on whether and how to complete Futures Trading according to their recommendations and your own reasonable judgment;

d. You agree and authorize Aax to take various reasonable measures in its discretion (including but not limited to forced liquidation and forced position reduction under specific circumstances) in accordance with the Aax Futures Service Agreement and the relevant Aax Platform Rules to protect the legitimate interests of you, Aax and other Users.

5. Options Trading

Before entering into transactions in Options products through Aax (“Options Trading”), you acknowledge and agree that:

a. You fully understand the high risks of Options Trading, including but not limited to the risk of major fluctuations of Digital Assets in Options Trading, and the risk of exacerbated adverse outcome when leverage is used;

b. You have sufficient investment knowledge and experience and the capacity to take risks arising from Options Trading, and agree to independently assume all the risks arising from the investment of Options Trading;

c. Before performing Options Trading, you have read and understood, and agree to be bound the terms of, the Aax Options Service Agreement and all relevant Aax Platform Rules, which shall supplement these Terms of Use, and have consulted relevant professionals to make informed decisions on whether and how to complete Options Trading according to their recommendations and your own reasonable judgment;

d. You agree and authorize Aax to take various reasonable measures in its discretion (including but not limited to forced liquidation and forced position reduction under specific circumstances) in accordance with the Aax Options Service Agreement and all relevant Aax Platform Rules to protect the legitimate interests of you, Aax and other Users.

6. Margin Trading

By making use of the Margin Services, you acknowledge and agree that you have read, understood and accepted the “Margin Service Terms of Use”, which shall apply to all Margin Services (as such term is defined in the Margin Service Terms of Use).

7. Lending Services

Unless otherwise provided Aax, to borrow currencies, you must conclude with Aax a separate Lending Services User Agreement and open a special Collateral Account and/or finish other relevant procedures, following the completion of registration and identity verification for your Aax Account. You understand and agree that:

a. There are considerable risks involved in Lending Services, which include without limitation to risks of fluctuation of the borrowed Digital Assets’ value, derivative risks and technical risks. You shall carefully consider and exercise clear judgment to evaluate your financial situation and the aforesaid risks to make any decision on using Lending Services, and you shall be responsible for all losses arising therefrom;

b. you shall cooperate to provide the information and materials related to identity verification and Lending Services as required Aax, and be solely responsible for taking necessary security measures to protect the security of your Collateral Account and personal information;

c. you shall carefully read relevant Aax Platform Rules before using Lending Services, and be aware of, understand and observe the specific information and rules regarding the operations of Lending Services, and you undertake that the use of the assets borrowed shall conform to requirements of these Terms and related laws and regulations;

d. Aax has the full right to manage your Collateral Account and collateral during the period in which Lending Services are offered, and reserves the right, under the circumstances specified in the Lending Services User Agreement or these Terms, to implement various risk control measures, which include but are not limited to forced liquidation. Such steps may cause major losses to you and you shall be solely responsible for the outcomes of such measures;

e. Aax has the right to temporarily or permanently prohibit you from using Lending Services when it deems it necessary or reasonable, and to the maximum extent permitted law, without liability of any kind to you.

8. Aax Savings Service

Aax offers Aax Savings, a service to provide Users with value-added services for their idle Digital Assets. To use Aax Savings service, you must conclude with Aax a separate Aax Savings Service User Agreement and open a special Aax Savings service account, following the completion of registration and identity verification for your Aax Account. When using Aax Savings service, you should note that:

a. Aax Savings assets will be used in cryptocurrency leveraged borrowing and other businesses.

b. When you use Aax Savings service, you will unconditionally authorize Aax to distribute and grant the leveraged interest according to Aax Platform Rules.

c. You shall abide relevant laws and regulations to ensure that the sources of Digital Assets are legitimate and compliant when using Aax Savings service.

d. When you use Aax Savings service, you should fully recognize the risks of investing in Digital Assets and operate cautiously.

e. You agree that all investment operations conducted on Aax represent your true investment intentions and that unconditionally accept the potential risks and benefits of your investment decisions.

f. Aax reserves the right to suspend or terminate Aax Savings service. If necessary, Aax can suspend and terminate Aax Savings service at any time.

g. Due to network delay, computer system failures and other force majeure, which may lead to delay, suspension, termination or deviation of execution of Aax Savings service, Aax will use reasonable effort to ensure but not promise that Aax Savings service execution system runs stably and effectively. Aax does not take any responsibility if the final execution fails to match your expectations due to the above factors.

9. Staking Programs

Aax will from time to time launch Staking Programs for specific types of Digital Currencies to reward, as per certain rules, users who hold such Digital Currencies in their Aax Accounts. When participating in Staking Programs, you should note that:

a. Unless otherwise stipulated Aax, Staking Programs are free of charge and Users may trade during the staking period;

b. Aax does not guarantee Users’ proceeds under any Staking Program;

c. Aax has the right to initiate or terminate Staking Program for any Digital Currencies or modify rules on such programs in its sole discretion;

d. Users shall ensure that sources of the Digital Currencies they hold in Aax Accounts are legal and compliant and undertake to observe related laws and regulations. Otherwise, Aax has the right to take necessary steps in accordance with these Terms or Aax Platform Rules, including, without limitation, freezing Aax Accounts or deducting the Digital Currencies awarded to Users who violate the rules of respective Staking Programs.

10. Aax POS Service Agreement

a. Aax.us launched Aax POS service for Aax.us users to gain proceeds through idle cryptocurrency assets.

b. Aax POS assets will be used in cryptocurrency staking to gain proceeds and other businesses.

c. When you use Aax POS service, you will unconditionally authorize Aax.us to distribute the staking interest according to the rules of the platform.

d. You shall abide the relevant laws of the State to ensure that the sources of assets are legitimate and compliant when using Aax POS service.

e. When you use Aax POS service, you should fully recognize the risks of investment in cryptocurrency and operate cautiously.

f. You agree that all investment operations conducted on Aax.us represent your true investment intentions and that unconditionally accept the potential risks and benefits of your investment decisions.

g. Aax.us reserves the right to suspend or terminate Aax POS service. If necessary, Aax.us can suspend and terminate Aax POS service at any time.

h. Due to network delay, computer system failures and other force majeure, which may lead to delay, suspension or deviation of Aax POS service execution, Aax.us will use commercially reasonable effort to ensure but not promise that Aax POS service execution system run stably and effectively. Aax.us does not take any responsibility if the final execution doesn’t match your expectations due to the above factors.

11. Aax Convert Services

a. Upon completion of the registration and identity verification for your Aax Account, you may be able to make use of the Aax Convert services, which enable Users to buy and sell Digital Assets based on prices provided Aax (the “Aax Convert Services”). Pursuant to the Aax Convert Services, Users may provide Aax with a request to convert one Digital Asset into another Digital Asset (a “Conversion”), which Aax may, in its sole discretion, elect to accept or reject. If accepted, a Digital Asset spot transaction will be entered into between Aax and the User subject to the terms as set out in the remainder of this Clause.

b. To request a Conversionbetween a supported trading pair of Digital Assets through the Platform, Users may place (i) a market order, specifying the type and amount of the Digital Asset to be converted and the type of the Digital Asset to be received pursuant to such Conversion (a “Convert Market Order”); and/or (ii) a limit order, specifying the type and amount of the Digital Asset to be converted and the type of Digital Asset to be received pursuant to such Conversion, the limit price at which such Conversion is to take place and the date upon which the limit order is to expire (a “Convert Limit Order”). For the purposes of the Aax Convert Services reference to “Platform” shall be to the digital platform made accessible via any website, page, feature, or content owned or operated Aax, any mobile application developed or provided Aax or any Aax API Connection (as defined below) made available to Users or third-party applications relying on such Aax API Connection or such other means as Aax may prescribe from time to time for the use of Aax Convert Services.

c. If a User places a Convert Market Order, Aax may (but is not obliged to) provide a non-binding, indicative and discretionary quote for the conversion (a “Convert Quote”), which the User may accept or decline within such period of time as Aax may in its sole discretion specify. It is the User’s responsibility to check the competitiveness of the price and decide whether to accept the Convert Quote or not within the specified time. User’s acceptance of the Convert Quote will result in the submission of a trade request to Aax for Aax to process the requested Conversion at the price provided in the Convert Quote (the “User Trade Request”). Submission of a User Trade Request authorizes Aax to temporarily lock the User’s Digital Assets that are to be converted until the Conversion is completed (subject to Aax’s right to reject any such User Trade Request as detailed further below).

d. User’s acceptance of a Convert Quote and submission of a User Trade Request does not obligate Aax to process the requested Conversion on behalf of the User. Aax may either accept or reject the User Trade Request at its sole discretion, depending on market conditions and other factors at the relevant time.

e. If Aax accept a User Trade Request, Aax will guarantee the price of the requested Conversion (regardless of any price movement since the Convert Quote was provided) as well as the amounts of the relevant Digital Assets that are to be Converted and provided to User pursuant to such Conversion. Aax will settle the requested Conversion accordingly debiting the User’s Aax Account of the agreed amount of Digital Assets to be converted and crediting the User’s Aax Account with the agreed amount of Digital Assets to be received pursuant to such Conversion. In most cases, the settlement process will complete within 10 seconds from the acceptance Aax of the relevant User Trade Request, however Aax does not guarantee the settlement of the Conversion within this timeframe and in some instances the settlement process may take several hours or even longer, depending on various factors, including, without limitation, market conditions, technical issues, etc. Once a User Trade Request has been accepted Aax, , the User will not be permitted to cancel the requested Conversion or to transfer, withdraw, or otherwise trade the Digital Assets that are the subject of such Conversion. Aax shall not be held responsible for potential loss or opportunity cost in connection with any price change of the Digital Asset subject to the Conversion during this settlement period.

f. In respect of Convert Limit Orders, Aax may accept or reject any Convert Limit Order in its sole discretion. If Aax accepts a Convert Limit Order, Aax does not guarantee that such Convert Limit Order will be filled , even if the market price of the relevant Digital Asset subject to the Conversion hits or crosses the limit price set the User pursuant to such Convert Limit Order. This is due to the fact that Convert Limit Orders are executed subject to market conditions and liquidity. Aax shall not be held responsible for any potential loss or opportunity cost due to the failure to execute any Convert Limit Order in such case. If any Convert Market Order is executed, the provisions detailed in sub-clause (e) above with respect to the settlement of the relevant Conversion shall apply.

g. Aax has the exclusive authority to determine which Digital Assets are listed on the Platform and are available for the purposes of any Conversion and may add or remove Digital Assets and/or Digital Asset trading pairs from the Platform in its sole discretion, from time to time without prior notice. Aax may also change the order size available for a Conversion with respect to a particular Digital Asset. In respect of any such additions, removals, or changes, Aax may, but is not obliged to, notify Users in advance and Aax shall have no liability to Users in connection with such additions, removals or changes.

h. It is recommended that Users conduct independent research into different Digital Assets prior to using Aax Convert Services and that Users take steps to ensure they understand the risks associated with the trading of Digital Assets. Users bear full responsibility for ensuring that the Aax Convert Services are suitable for them, taking into account their own financial objectives and circumstances, and shall be solely responsible for any profit or loss sustained in connection with their use of the Aax Convert Services. Aax does not make any representation of guarantee as to the outcome to be received the trading of Digital Assets whether pursuant to the Aax Convert Services or otherwise.

If a User is accessing the Aax Convert Services pursuant to an API connection provided to the User Aax (a “Aax API Connection”), the User acknowledges and agrees as follows:

1. Aax does not currently support the submission of Convert Limit Orders through any Aax API Connection. Accordingly, a Aax API Connection may only be used for the purposes of submitting Convert Market Orders;
2. Aax may change the endpoints of any Aax API Connection from time to time and/or may change the settings of any Aax API Connection, including to impose any particular trading limits and/or minimum order amounts with respect to specific Users, in each case at any time for any reason in its sole discretion and shall not be obliged to provide any prior notice to User of any such change;
3. Aax may restrict or terminate a Aax API Connection at any time for any reason in its sole discretion, for example, including (but not limited to) where Aax suspects that the User is using the Aax API Connection for the purposes of price arbitrage, market manipulation or is otherwise exploiting pricing provided Aax via the Aax API Connection for the purposes of gaining a market advantage, and Aax is not obliged to provide any prior notice to User of any such restriction or termination or any reason therefor;
4. a Aax API Connection is provided “as is” and is used a User entirely at its own risk. Aax shall not be liable for any error, malfunction, or unavailability of any Aax API Connection or any losses incurred a User or any third party in connection with the use of (or inability to use) any Aax API Connection; and
5. if User is redistributing any prices provided Aax through a Aax API Connection, whether in relation to the Aax Convert Services or otherwise, Aax shall not be a party to, nor have any obligation with respect to, any transaction entered into the User with any third party (including any customer of the User) on the basis of a price provided Aax. User shall be solely responsible for its transactions and relationships with third parties (including its own customers), including without limitation any obligations or duties arising under applicable law or regulation. To the extent that User applies any mark-up or spread to prices received from Aax for the purposes of trading with its own customers, User shall be solely responsible for determining the amount of and appropriateness of any such mark-up or spread and Aax shall have no involvement with, or liability in relation to, any such decision or other decision regarding transactions between the User and any customer of User or other third party. Unless otherwise agreed Aax in writing, User shall not identify Aax as the source of any prices provided to User to any third party (including User’s own customers) nor use the name “Aax” or any logo or symbol of Aax in its own marketing, communications with third parties, websites or for any other purpose.

12. Aax Leveraged Tokens

Before transacting in Aax Leveraged Tokens, you acknowledge and agree that you have read, understood and accepted each of the Aax Leveraged Tokens Risk Disclosure Statement and the Aax Leveraged Tokens Agreement, which shall apply to all subscriptions to, redemptions of and transactions in Aax Leveraged Tokens (as such term is defined in the Aax Leveraged Tokens Agreement).

13. BUSD Conversion

A. Deposits

From such time on the Conversion Inception Date as Aax may determine, when you deposit or receive a Designated Stablecoin into your Aax Account, the amount received will automatically be converted into an equivalent amount of BUSD at a rate of 1 to 1.

B. Existing balances

At such time on the Conversion Inception Date as Aax may determine, any balance in your Aax Account denominated in a Designated Stablecoin will automatically be converted into an equivalent amount of BUSD at a rate of 1 to 1.

C. Withdrawals

On or after the Conversion Inception Date, if you have a balance in your Aax Account denominated in BUSD, you may give Instructions to withdraw such balance from your Aax Account either in BUSD or in any of the Designated Stablecoins. Where you choose to withdraw a Designated Stablecoin, you will receive an amount equal to your balance in BUSD, converted into the relevant Designated Stablecoin at a rate of 1 to 1, minus any applicable withdrawal and transaction fees.

D. Exceptions

Aax reserves the right to suspend or terminate the Designated Stablecoin Conversion for any or all Designated Stablecoins at any time without prior notice. Where necessary due to market conditions affecting one or more Designated Stablecoins, Aax may adjust the conversion rate used for the Designated Stablecoin Conversion.

14. Aax OTC

If agreed with Aax, you may be permitted to receive certain over-the-counter (OTC) services with respect to bilateral transactions in Digital Assets, which services shall be subject to the Aax OTC Terms. You agree to be bound the Aax OTC Terms with respect to all OTC Services provided to you through Agreed Communication Channels (as each term is defined in the Aax OTC Terms).

IV. Liabilities

1. Disclaimer of Warranties

TO THE MAXIMUM EXTENT PERMITTED UNDER APPLICABLE LAW, AAX SERVICES, AAX MATERIALS AND ANY PRODUCT, SERVICE OR OTHER ITEM PROVIDED BY OR ON BEHALF OF AAX ARE OFFERED ON AN “AS IS” AND “AS AVAILABLE” BASIS, AND AAX EXPRESSLY DISCLAIMS, AND YOU WAIVE, ANY AND ALL OTHER WARRANTIES OF ANY KIND, WHETHER EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, 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, AAX DOES NOT REPRESENT OR WARRANT THAT THE SITE, AAX SERVICES OR AAX MATERIALS ARE ACCURATE, COMPLETE, RELIABLE, CURRENT, ERROR-FREE, OR FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS. AAX DOES NOT GUARANTEE THAT ANY ORDER WILL BE EXECUTED, ACCEPTED, RECORDED OR REMAIN OPEN. EXCEPT FOR THE EXPRESS STATEMENTS, AGREEMENTS AND RULES SET FORTH IN THESE TERMS, YOU HEREBY ACKNOWLEDGE AND AGREE THAT YOU HAVE NOT RELIED UPON ANY OTHER STATEMENT OR AGREEMENT, WHETHER WRITTEN OR ORAL, WITH RESPECT TO YOUR USE AND ACCESS OF Aax SERVICES. WITHOUT LIMITING THE FOREGOING, YOU HEREBY UNDERSTAND AND AGREE THAT AAX WILL NOT BE LIABLE FOR ANY LOSSES OR DAMAGES ARISING OUT OF OR RELATING TO: (A) ANY INACCURACY, DEFECT OR OMISSION OF DIGITAL ASSETS PRICE DATA, (B) ANY ERROR OR DELAY IN THE TRANSMISSION OF SUCH DATA, (C) INTERRUPTION IN ANY SUCH DATA, (D) REGULAR OR UNSCHEDULED MAINTENANCE CARRIED OUT BY AAX AND SERVICE INTERRUPTION AND CHANGE RESULTING FROM SUCH MAINTENANCE, (E) ANY DAMAGES INCURRED BY OTHER USERS’ ACTIONS, OMISSIONS OR VIOLATION OF THESE TERMS, (F) ANY DAMAGE CAUSED BY ILLEGAL ACTIONS OF OTHER THIRD PARTIES OR ACTIONS WITHOUT AUTHORIZED BY AAX; AND (G) OTHER EXEMPTIONS MENTIONED IN DISCLAIMERS AND PLATFORM RULES ISSUED BY AAX.

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.

2. Disclaimer of Damages and Limitation of Liability

TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, IN NO EVENT WILL Aax, ITS AFFILIATES AND THEIR RESPECTIVE SHAREHOLDERS, MEMBERS, DIRECTORS, OFFICERS, EMPLOYEES, ATTORNEYS, AGENTS, REPRESENTATIVES, SUPPLIERS OR CONTRACTORS BE LIABLE FOR ANY INCIDENTAL, INDIRECT, SPECIAL, PUNITIVE, CONSEQUENTIAL OR SIMILAR DAMAGES OR LIABILITIES WHATSOEVER (INCLUDING, WITHOUT LIMITATION, DAMAGES FOR LOSS OF DATA, INFORMATION, REVENUE, PROFITS OR OTHER BUSINESSES OR FINANCIAL BENEFITS) ARISING OUT OF Aax SERVICES, ANY PERFORMANCE OR NON-PERFORMANCE OF Aax SERVICES, OR ANY OTHER PRODUCT, SERVICE OR OTHER ITEM PROVIDED BY OR ON BEHALF OF Aax AND ITS AFFILIATES, WHETHER UNDER CONTRACT, STATUTE, STRICT LIABILITY OR OTHER THEORY EVEN IF Aax HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES EXCEPT TO THE EXTENT OF A FINAL JUDICIAL DETERMINATION THAT SUCH DAMAGES WERE A RESULT OF Aax GROSS NEGLIGENCE, FRAUD, WILLFUL MISCONDUCT OR INTENTIONAL VIOLATION OF LAW. SOME JURISDICTIONS DO NOT ALLOW THE EXCLUSION OR LIMITATION OF INCIDENTAL OR CONSEQUENTIAL DAMAGES, SO THE ABOVE LIMITATION MAY NOT APPLY TO YOU.

NOTWITHSTANDING THE FOREGOING, IN NO EVENT WILL THE LIABILITY OF Aax, ITS AFFILIATES AND THEIR RESPECTIVE SHAREHOLDERS, MEMBERS, DIRECTORS, OFFICERS, EMPLOYEES, ATTORNEYS, AGENTS, REPRESENTATIVES, SUPPLIERS OR CONTRACTORS ARISING OUT OF SERVICES OFFERED BY OR ON BEHALF OF Aax AND ITS AFFILIATES, ANY PERFORMANCE OR NON-PERFORMANCE OF Aax SERVICES, OR ANY OTHER PRODUCT, SERVICE OR OTHER ITEM, WHETHER UNDER CONTRACT, STATUTE, STRICT LIABILITY OR OTHER THEORY, EXCEED THE AMOUNT OF THE FEES PAID BY YOU TO Aax UNDER THESE TERMS IN THE TWELVE-MONTH PERIOD IMMEDIATELY PRECEDING THE EVENT GIVING RISE TO THE CLAIM FOR LIABILITY.

3. Indemnification

You agree to indemnify and hold harmless Aax Operators, their 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 any regulatory authority) arising out of or related to (i) your use of, or conduct in connection with, Aax 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 Aax Services. If you are obligated to indemnify Aax Operators, their affiliates, contractors, licensors, and their respective directors, officers, employees or agents pursuant to these Terms, Aax will have the right, in its sole discretion, to control any action or proceeding and to determine whether Aax wishes to settle, and if so, on what terms.

V. Announcements

Please be aware that all official announcements, news, promotions, competitions and airdrops will be listed on www.Aax.us/en/support/announcement . USERS UNDERTAKE TO REFER TO THESE MATERIALS REGULARLY AND PROMPTLY. AAX 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.

VI. Termination of Agreement

1. Suspension of Aax Accounts

You agree that Aax shall have the right to immediately suspend your Aax Account (and any accounts beneficially owned related entities or affiliates), freeze or lock the Digital Assets or funds in all such accounts, and suspend your access to Aax for any reason including if Aax suspects any such accounts to be in violation of these Terms, our Privacy Policy, or any applicable laws and regulations. You agree that Aax shall not be liable to you for any permanent or temporary modification of your Aax Account, or suspension or termination of your access to all or any portion of Aax Services. Aax shall reserve the right to keep and use the transaction data or other information related to such Aax Accounts. The above account controls may also be applied in the following cases:

• The Aax Account is subject to a governmental proceeding, criminal investigation or other pending litigation;
• We detect unusual activities in the Aax Account;
• We detect unauthorized access to the Aax Account;
• False allegations to discriminate our company
• We are required to do so a court order or command a regulatory/government authority.

2. Cancellation of Aax Accounts

In case of any of the following events, Aax shall have the right to directly terminate these Terms cancelling your Aax Account, and shall enjoy the right but not the obligation to permanently freeze (cancel) the authorizations of your Aax Account on Aax and withdraw the corresponding Aax Account thereof:

• after Aax terminates services to you;
• you allegedly register or register in any other person’s name as a Aax User again, directly or indirectly;
• the information that you have provided is untruthful, inaccurate, outdated or incomplete;
• when these Terms are amended, you state your unwillingness to accept the amended Terms applying for cancellation of your Aax Account or other means;
• you request that Aax Services be terminated; and
• any other circumstances where Aax deems it should terminate Aax Services.

Should your Aax Account be terminated, the account and transactional information that meet data retention standards will be securely stored for 5 years. In addition, if a transaction is unfinished during the account termination process, Aax shall have the right to notify your counterparty of the situation at that time. You acknowledge that a user-initiated account exit (right to erasure under GDPR or other equivalent regulations) will also be subjected to the termination protocol stated above.

If Aax is informed that any Digital Assets or funds held in your Aax Account are stolen or otherwise are not lawfully possessed you, Aax may, but has no obligation to, place an administrative hold on the affected funds and your Aax Account. If Aax does lay down an administrative hold on some or all of your funds or Aax Account, Aax may continue such hold until such time as the dispute has been resolved and evidence of the resolution acceptable to Aax has been provided to Aax in a form acceptable to Aax. v will not involve itself in any such dispute or the resolution of the dispute. You agree that Aax will have no liability or responsibility for any such hold, or for your inability to withdraw Digital Assets or funds or execute trades during the period of any such hold.

3. Remaining Funds After Aax Account Termination

Except as set forth in paragraph 4 below, once a Aax Account is closed/withdrawn, all remaining account balance (which includes charges and liabilities owed to Aax) will be payable immediately to Aax. Upon payment of all outstanding charges to Aax (if any), Users will have 5 business days to withdraw all Digital Assets or funds from the account.

4. Remaining Funds After Aax Account Termination Due to Fraud, Violation of Law, or Violation of These Terms

Aax maintains full custody of the Digital Assets, funds and User data/information which may be turned over to governmental authorities in the event of Aax Accounts’ suspension/closure arising from fraud investigations, investigations of violation of law or violation of these Terms.

5. Dormant Accounts

Notwithstanding any provision of this Section VI, Aax may provide a written notice requiring you to close all of your open positions and withdraw all of your Digital Assets from your Aax Account within 30 days of the notice. In the event that you fail to do so, Aax may in its absolute discretion and without prior notice to you:

(a) deem your Aax account as a dormant account;

(b) close any open positions in any Aax products;

(c) convert the Digital Assets to a different type of Digital Asset (e.g., from BTC to BUSD). For the avoidance of doubt, none of the Aax Operators shall be liable for any loss of profit, tax obligations or any other loss, damage or expense incurred you resulting from such conversion;

(d) transfer such dormant account (including any Digital Assets contained therein) to an affiliate of the Aax Operators, any third-party custodian or an isolated wallet where it is deemed reasonably necessary Aax to do so. In the event that such transfer has taken place, you have the right to retrieve your digital assets from subject to satisfying Aax’s verification requirements, including completing KYC;

(e) charge a dormant account fee to cover the cost of maintaining the assets the Aax Operators, its affiliates or any third-party and such fee shall be withdrawn directly from the dormant account on a monthly basis; and

(f) close a dormant account at any time, and Aax will not be liable for any loss, damage or expense incurred you as a result of the closure of a dormant account unless there was fraud or willful default Aax. Any assets in these dormant accounts will be transferred in accordance to paragraph 5(d) above. After a dormant account is closed, it cannot be reactivated you (i.e. you will need to register a new Aax account if you wish to continue to use Aax Services).

(g)

VII. No Financial Advice

Aax 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 you using Aax Services. No communication or information provided to you Aax 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. Aax does not recommend that any Digital Asset should be bought, earned, sold, or held 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. Aax will not be held responsible for the decisions you make to buy, sell, or hold Digital Asset based on the information provided Aax.

VIII. Compliance with Local Laws

It is Users’ responsibility to abide local laws in relation to the legal usage of Aax Services in their local jurisdiction as well as other laws and regulations applicable to Users. Users must also factor, to the extent of their local laws all aspects of taxation, the withholding, collection, reporting and remittance to their appropriate tax authorities.ALL USERS OF AAX SERVICES ACKNOWLEDGE AND DECLARE THAT THEIR FUNDS COME FROM LEGITIMATE SOURCES AND DO NOT ORIGINATE FROM ILLEGAL ACTIVITIES; USERS AGREE THAT AAX WILL REQUIRE THEM TO PROVIDE OR OTHERWISE COLLECT THE NECESSARY INFORMATION AND MATERIALS AS PER RELEVANT LAWS OR GOVERNMENT ORDERS TO VERIFY THE LEGALITY OF THE SOURCES AND USE OF THEIR FUNDS. Aax maintains a stance of cooperation with law enforcement authorities globally and will not hesitate to seize, freeze, terminate Users’ accounts and funds which are flagged out or investigated legal mandate.

IX. Privacy Policy

Access to Aax Services will require the submission of certain personally identifiable information. Please review Aax’s Privacy Policy at www.Aax.us/en/privacy for a summary of Aax’s guidelines regarding the collection and use of personally identifiable information.

X. Resolving Disputes: Forum, Arbitration, Class Action Waiver

PLEASE READ THIS SECTION CAREFULLY, AS IT INVOLVES A WAIVER OF CERTAIN RIGHTS TO BRING LEGAL PROCEEDINGS, INCLUDING AS A CLASS ACTION.

1. Notice of Claim and Dispute Resolution Period. Please contact Aax first! Aax wants to address your concerns without resorting to formal legal proceedings, if possible. If you have a dispute with Aax, then you should contact Aax and a ticket number will be assigned. Aax will attempt to resolve your dispute internally as soon as possible. The parties agree to negotiate in good faith to resolve the dispute (which discussions shall remain confidential and be subject to applicable rules protecting settlement discussions from use as evidence in any legal proceeding).

In the event the dispute cannot be resolved satisfactorily, and you wish to assert a legal claim against Aax, then you agree to set forth the basis of such claim in writing in a “Notice of Claim,” as a form of prior notice to Aax. The Notice of Claim must (1) describe the nature and basis of the claim or dispute, (2) set forth the specific relief sought, (3) provide the original ticket number, and (4) include your Aax account email. The Notice of Claim should be submitted to an email address or hyperlink provided in your correspondence with Aax. After you have provided the Notice of Claim to Aax, the dispute referenced in the Notice of Claim may be submitted either Aax or you to arbitration in accordance with paragraph 2 of this Section, below. For the avoidance of doubt, the submission of a dispute to Aax for resolution internally and the delivery of a Notice of Claim to Aax are prerequisites to commencement of an arbitration proceeding (or any other legal proceeding). During the arbitration, the amount of any settlement offer made you or Aax shall not be disclosed to the arbitrator.

2. Agreement to Arbitrate and Governing Law.  You and Aax Operators agree that, subject to paragraph 1 above, any dispute, claim, or controversy between you and Aax (and/or Aax Operators) arising in connection with or relating in any way to these Terms or to your relationship with Aax (and/or Aax Operators) as a user of Aax Services (whether based in contract, tort, statute, fraud, misrepresentation, or any other legal theory, and whether the claims arise during or after the termination of these Terms) will be determined mandatory final and binding individual (not class) arbitration, except as set forth below under Exceptions to Agreement to Arbitrate. You and Aax Operators further agree that the arbitrator shall have the exclusive power to rule on his or her own jurisdiction, including without limitation any objections with respect to the existence, scope or validity of the Agreement to Arbitrate, or to the arbitrability of any claim or counterclaim. Arbitration is more informal than a lawsuit in court. THERE IS NO JUDGE OR JURY IN ARBITRATION, AND COURT REVIEW OF AN ARBITRATION AWARD IS LIMITED. There may be more limited discovery than in court. The arbitrator must follow this agreement and can award the same damages and relief as a court (including, if applicable, attorney fees), except that the arbitrator may not award declaratory or injunctive relief in favour of anyone but the parties to the arbitration. The arbitration provisions set forth in this Section will survive termination of these Terms. Arbitration Rules. The arbitration shall be subject to the HKIAC Administered Arbitration Rules (HKIAC. Rules) in force when the Notice of Arbitration is submitted, as modified this Section X. The arbitration will be administered the Hong Kong International Arbitration Centre (HKIAC). Unless the parties agree otherwise, there shall be only one arbitrator appointed in accordance with the HKIAC Rules. Any arbitration will be conducted in the English language. Regardless of the manner in which the arbitration is conducted, the arbitrator shall issue a reasoned written decision sufficient to explain the essential findings and conclusions on which the decision and award, if any, are based. JUDGMENT ON ANY ARBITRAL AWARD MAY BE GIVEN IN ANY COURT HAVING JURISDICTION OVER THE PARTY (OR OVER THE ASSETS OF THE PARTY) AGAINST WHOM SUCH AN AWARD IS RENDERED. Time for Filing: ANY ARBITRATION AGAINST AAX OPERATORS MUST BE COMMENCED BY FILING A REQUEST FOR ARBITRATION WITHIN ONE (1) YEAR, AFTER THE DATE THE PARTY ASSERTING THE CLAIM FIRST KNOWS OR REASONABLY SHOULD KNOW OF THE ACT, OMISSION OR DEFAULT GIVING RISE TO THE CLAIM; AND THERE SHALL BE NO RIGHT TO ANY REMEDY FOR ANY CLAIM NOT ASSERTED WITHIN THAT TIME PERIOD. THIS ONE YEAR LIMITATION PERIOD IS INCLUSIVE OF THE INTERNAL DISPUTE RESOLUTION PROCEDURE SET FORTH IN PARAGRAPH 1 OF THIS SECTION, ABOVE. THERE SHALL BE NO RIGHT TO ANY REMEDY FOR ANY CLAIM NOT ASSERTED WITHIN THAT TIME PERIOD. If applicable law prohibits a one-year limitation period for asserting claims, any claim must be asserted within the shortest time period permitted applicable law. Process; Notice: The party who intends to seek arbitration after the expiration of the Dispute Resolution Period set forth in paragraph 1, above, must submit a request to the HKIAC in accordance with the HKIAC Rules. If we request arbitration against you, we will give you notice at the email address or mailing address you have provided. You agree that any notice sent to this email or mailing address shall be deemed effective for all purposes, including without limitation to determinations of adequacy of service. It is your obligation to ensure that the email address and/or mailing address on file with Aax is up-to-date and accurate. Seat of Arbitration: The seat of the arbitration shall be Hong Kong. Place of Hearing: The location of any in-person arbitration hearing shall be Hong Kong, unless otherwise agreed to the parties. Governing Law: These Terms (including this arbitration agreement) shall be governed by, and construed in accordance with, the laws of Hong Kong. Confidentiality. The parties agree that the arbitration shall be kept confidential. The existence of the arbitration, any nonpublic 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 fulfill 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.

3. Class Action Waiver.  You and Aax agree that any claims relating to these Terms or to your relationship with Aax as a user of Aax Services (whether based in contract, tort, statute, fraud, misrepresentation, or any other legal theory, and whether the claims arise during or after the termination of these Terms) shall be brought against the other party in an arbitration on an individual basis only and not as a plaintiff or class member in a purported class or representative action. You and Aax further agree to waive any right for such claims to be brought, heard, or arbitrated as a class, collective, representative, or private attorney general action, to the extent permissible applicable law. Combining or consolidating individual arbitrations into a single arbitration is not permitted without the consent of all parties, including Aax.

4. Modifications. Aax reserves the right to update, modify, revise, suspend, or make any future changes to Section X regarding the parties’ Agreement to Arbitrate, subject to applicable law. You hereconsent and agree that it is your responsibility to ensure that your understanding of this Section is up to date. Subject to the applicable law, your continued use of your Aax account shall be deemed to be your acceptance of any modifications to Section X regarding the parties’ Agreement to Arbitrate. You agree that if you object to the modifications to Section X, Aax may block access to your account pending closure of your account. In such circumstances, the Terms of Use prior to modification shall remain in full force and effect pending closure of your account.

5. Severability. If any portion of these Terms are adjudged to be invalid or unenforceable for any reason or to any extent, the remainder of these Terms will remain valid and enforceable and the invalid or unenforceable portion will be given effect to the greatest extent permitted law. pending closure of your account.

XI. Miscellaneous

1. Independent Parties. Aax is an independent contractor but not an agent of you in the performance of these Terms. These Terms shall not be interpreted as facts or evidence of an association, joint venture, partnership, or franchise between the parties.

2. Entire Agreement. These Terms constitute the entire agreement between the parties regarding use of Aax Services and will supersede all prior written or oral agreements between the parties. 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 herein.

3. Interpretation and Revision. Aax reserves the right to alter, revise, modify, and/or change these Terms at any time. All changes will take effect immediately upon being published on Aax websites. It is your responsibility to regularly check relevant pages on our websites/applications to confirm the latest version of these Terms. If you do not agree to any such modifications, your only remedy is to terminate your usage of Aax Services and cancel your account. You agree that, unless otherwise expressly provided in these Terms, Aax will not be responsible for any modification or termination of Aax Services you or any third party, or suspension or termination of your access to Aax Services.

4. Language & Translations: These Terms may, at Aaxs sole and absolute discretion, be translated into a language other than the English language. You agree that any such translation shall only be for your convenience and the English text shall prevail in the event of any ambiguity, discrepancy or omission as between the English text and any translated text.

5. Force Majeure. Aax will not be liable for any delay or failure to perform as required these Terms because of any cause or condition beyond Aax’s reasonable control.

6. Severability. If any portion of these Terms is 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.

7. Assignment. You may not assign or transfer any right to use Aax Services or any of your rights or obligations under these Terms without prior written consent from Aax, including any right or obligation related to the enforcement of laws or the change of control. Aax may assign or transfer any or all of its rights or obligations under these Terms, in whole or in part, without notice or obtaining your consent or approval.

8. Waiver. The failure of one party to require performance of any provision will not affect that party’s right to require performance at any time thereafter. At the same time, the waiver of one party to seek recovery for the other party’s violation of these Terms or any provision of applicable terms shall not constitute a waiver that party of any subsequent breach or violation the other party or of the provision itself.

9. Third-Party Website Disclaimer.  Any links to third-party websites from Aax Services does not imply endorsement Aax of any product, service, information or disclaimer presented therein, nor does Aax guarantee the accuracy of the information contained on them. If you suffer loss from using such third-party product and service, Aax will not be liable for such loss. In addition, since Aax has no control over the terms of use or privacy policies of third-party websites, you should read and understand those policies carefully.

10. Matters Related to Apple Inc. If you use any device manufactured Apple Inc. to participate in any commercial activities or reward programs through Aax Services, such activities and programs are provided Aax and are not associated with Apple Inc. in any manner.

11. Contact Information.  For more information on Aax, you may refer to the company and license information found on Aax websites. If you have questions regarding these Terms, please feel free to contact Aax for clarification via our Customer Support team at https://aax.us.com/contact-us