Terms of Use
By agreeing to use the Savvix.io Platform (the “Platform”) you agree to be bound by the following terms and conditions (the “Terms”). Please ensure that you read them carefully before agreeing to.
We reserve the right to update and change the Terms from time to time without notice. Any amendments, modifications, enhancements or changes to the Platform including the release of new features and resources made available by us from time to time shall be subject to these Terms. Continued use of the Platform after any such changes shall constitute your consent to such changes. You can review the most current version of the Terms at any time at: https://www.savvix.io/links/privacy-amp-policy/181
Any violation of these Terms may result in, among other things, termination or suspension of your rights to be an Affiliate and forfeiture of any outstanding affiliate referral fee payments earned during the violation.
Introduction
Please carefully review these terms before using, or continuing to use, any Savvix’s Services. The terms include important information about your relationship with Savvix, including mandatory arbitration of disputes between you and Savvix instead of class actions or jury trials the services are provided solely for use by you, and your use of the services is expressly conditioned on your consent to, and compliance with, the terms. By accessing or using our services, you agree to be bound by the terms. If you DO NOT agree to any of the provisions of these terms you should immediately stop using the services. In addition, our privacy policy is incorporated into the terms in its entirety. We encourage you to read the terms carefully and use them to make informed decisions.
Important notice regarding the treatment of digital assets.
The treatment of digital asset in your Savvix account may have changed depending on the jurisdiction in which you reside and whether Savvix’s service is available is available to you. Please read the following terms carefully so that you understand these changes and can make informed financial decisions.
Please take further notice that Savvix may modify the Terms at any time and in its sole discretion by posting the revised Terms on the Savvix website. You shall be bound by such modifications effective immediately upon posting. It is your responsibility to review these Terms prior to each use of the Services.
Savvix reserves the right to implement, change, modify, or increase any fee, rates or other related cost in connection with your Savvix Account or the use of any of the Services at any time. In the event a fee applies to you, we will notify you of the pricing of the fee prior to your providing authorization to complete the subject transaction or transfer. By accepting the Terms you hereby agree to pay all fees associated with or incurred by your use of the Savvix Account or any of the Services.
The Services provided in connection with specific Eligible Digital Assets listed on Appendix A are provided by the PT Savvix Digital Blockchain, a limited liability company incorporated in Indonesia.
1. ACCEPTANCE OF TERMS
1.1 In these terms of service (“Terms”), “we”, “us” or “Company” refers to PT Savvix Digital Blockchain company incorporated in Indonesia, and “our” shall be construed accordingly. “You” refers to any person accessing, or using any Services (as defined in Paragraph 2.1 of these Terms) as accessible through, our website: savvix.io; or web application or mobile applications or any other applications as and when available (collectively referred to as, “Sites”), and “your” shall be construed accordingly.
1.2 Each of you and Company shall hereinafter be referred to as a “Party”, and collectively, you and Company shall hereinafter be referred to as the “Parties”. The Company and its Affiliates (as defined in Paragraph 2.1 of these Terms) shall hereinafter be collectively referred to as “Savvix Affiliate”.
1.3 Your use of the Services is subject to these Terms as may be amended by us from time to time at our sole and absolute discretion. These Terms shall also include any other operating rules, policies and procedures which we may issue or publish on our Sites from time to time.
1.4 We may revise these Terms at any time with or without notice to you and any changes will be uploaded on the Sites. These changes shall take effect from the date of upload and your continued access or use of the Sites and/or the Services from such date shall be deemed to constitute acceptance of the new Terms. It shall be your sole responsibility to check the Sites for such changes from time to time. If you do not agree to these Terms, please exit the Sites and either do not use or cease usage of all the Services immediately.
1.5 Any personal data or information which you provide to us is also subject to the latest version of our privacy policy available on our Sites (“Privacy Policy”), which is incorporated by reference into these Terms.
1.6 By accessing, browsing or viewing the Sites, including but not limited to, registering for an account, submitting any information to us or utilising any of the Services as provided and offered by the Company or Savvix’s subsidiaries or any Savvix Affiliate, you:
· agree to be bound by and to abide by the latest version of the Terms and in accordance with our Privacy Policy. You will be deemed to have signed these Terms and to the extent permitted under applicable laws, you waive any rights or requirements under applicable laws which require a signature, whether original or electronic, and/or delivery of records;
· represent and warrant that in the jurisdiction to which you are subject, you are of legal age to use the Sites and/or the Services and to create binding legal and financial obligations for any liability you may incur as a result of the use of the Sites and/or the Services; and
· represent and warrant that you are not a Disqualified Person/Entity (as defined in Paragraph 2.1 of these Terms) or acting on behalf of a Disqualified Person/Entity.
1.7 No information contained in or on, and no part of the following:
- the Sites;
· any electronic sites, communication or applications directly or indirectly linked to the Sites; or
· any other information or document,
shall constitute part of these Terms (unless otherwise stated on the Sites or in these Terms), and no representations, warranties or undertakings are or are intended or purported to be given by any Savvix Affiliate (including Company) in respect of any information contained in or on, or any part of, the items as stated in Paragraphs 1.7(a) to (c) above.
2. DEFINITIONS AND INTERPRETATIONS
2.1 Definitions
In these Terms, unless the context otherwise requires:
“Accepted Digital Asset” means USDT, BTC, ETH, BNB, TRX, ONT, DOT or such other Digital Asset which the Company may agree in writing or as may be set out on the Sites;
“Account” or “Celsius Account” means a User’s designated user account on the Celsius website or mobile application, allowing a User to access and use the Services, view the User’s balance of Eligible Digital Assets held in custody on the User’s behalf or loaned by the User to Celsius, and any rewards gained on loaned Eligible Digital Assets, and manage the User’s personal information and profile. Your Savvix Account in NOT a bank account, deposit account and should NOT be characterized as a banking product or service. The use of terms such as “Account”, “Account balance”, “Withdraw” and similar language in connection with the earn and transfer service (see further sections 4(d) and 4(e) below, respectively) Does not imply or establish, and shall not be taken to suggest, any form of custody, digital asset staking and/or digital asset earning, and such language is used herein as terms of convenience only in referring to users staking and/or earning of digital asset to or from Savvix as part of the earn service.
“Address” means an address on the applicable digital ledger or blockchain network;
“Affiliate” means with respect to any person, any other person directly or indirectly controlling, controlled by or under common control with such person;
“Agreed Period” means the period when the relevant Options may be purchased and/or exercised and, unless determined otherwise by the Company, shall mean a four (4) weeks period or such other period as indicated on the Sites in relation to the relevant Options;
“Airdrop” are usually limited to users who meet certain criteria and usually only available for a limited time, and users must claim their free tokens within the specified timeframe such as owning a certain amount of a specific token, being a member of a particular community or social media group, or residing in a particular country. The criteria that must be met in order to receive the free tokens or coins being airdropped, such as owning a specific amount of a particular token or being a member of a specific community, and Savvix is not liable for the loss of the airdropped asset and/or loss of the value of the airdropped asset.
“Affiliate” means with respect to any person, any other person directly or indirectly controlling, controlled by or under common control with such person;
“Applicable Laws” means all relevant or applicable statutes, laws (including any reporting and/or withholding tax requirements of any government), rules, regulations, directives, circulars, notices, guidelines and practice notes of any Governmental Authority;
“Approvals” has the meaning ascribed thereto in Paragraph 8.1(m) of these Terms;
“USDT” means Tether, the cryptographic token associated with the supported blockchain network include (ERC20, TRC20, BSC);
“BTC” means Bitcoin, the cryptographic token associated with the Bitcoin blockchain;
“ETH” means Ether, the cryptographic token associated with the Ethereum blockchain (ERC20);
“BNB” means Binance BNB, the cryptographic token associated with the Binance’s blockchain so-called Binance Smart Chain and it’s relevant blockchain network. (BEP2, BSC, BEP20);
“TRX” means Tron, the cryptographic token associated with the TRON blockchain (TRC20);
“ONT” means Ontology, the cryptographic token associated with the Ontology blockchain;
“DOT” means Polkadot, the cryptographic token associated with the Polkadot blockchain;
“Business Day” means a day other than a Saturday, Sunday or a gazetted public holiday in Indonesia;
“Savvix Affiliate” has the meaning ascribed thereto in Paragraph 1.2 of these Terms;
“Savvix Group” has the meaning ascribed thereto in Paragraph 1.2 of these Terms;
“Savvix Staking Node” means a Staking Node operated by the Company or a Savvix Affiliate;
“Savvix Platform” means the Sites, the Savvix Staking Aggregator, and all operating systems and interfaces to facilitate the Services;
“Company Designated Account/Wallet” means such blockchain or digital ledger address(es) of the Company as notified by the Company to the User in writing or as set out in the Sites from time to time;
“Digital Asset” means a digital representation of value in which encryption techniques are used to regulate the generation of digital units and verify the transfer of assets, operating independently from a central bank.
“Disqualified Person/Entity” means (a) any person or body corporate seeking to access the Sites / use the Services from within the Excluded Jurisdictions; (b) any person or body corporate who or which is currently the subject of any sanction administered by the OFAC or any other United States government authority, is designated as a "Specially Designated National" or "Blocked Person" by OFAC; (c) any person (being a natural person) who is citizen of, domiciled in, or resident of, a country whose laws prohibit or conflict with the access of the Sites or use of Services; and/or (d) any body corporate that is incorporated in, domiciled in, or organised in, a country whose laws prohibit or conflict with the access of the Sites or use of Services;
“Eligible Digital Assets” means the types of Digital Assets we may choose to designate for inclusion under one or more of the Services from time to time, which are subject to change and/or limitation in our sole discretion, based on business, regulatory and/or other considerations.
“Fork” means a change in the existing source code or the creation of new or additional source code for a blockchain;
“Governmental Authority” means any nation or government, any state or other political subdivision thereof, any entity exercising legislative, executive, judicial or administrative functions of or pertaining to government, including, without limitation, any government authority, agency, department, board, commission or instrumentality, and any court, tribunal or arbitrator(s) of competent jurisdiction, and any self-regulatory organization. For the avoidance of doubt, Governmental Authority may include private bodies exercising quasi-governmental, regulatory or judicial-like functions to the extent they relate to either you, any Savvix Affiliate (including Company), the Supported Tokens and/or the Services;
“Impermanent Loss” means any asset loss due to differences in the market price of Supported Tokens between the time of pooling and the time of withdrawal from Liquidity Pools;
“Indemnified Persons” has the meaning ascribed thereto in Paragraph 11.2 of these Terms;
“Inflow Amount” has the meaning ascribed thereto in Paragraph 4.3.2 of these Terms;
“Lending Services” has the meaning ascribed thereto in Paragraph 4.3.1 of these Terms;
“Liquidity Mining Incentives” means incentives provided by several blockchain consensus which are accessible to users of the Liquidity Mining Protocol, which may include Supported Tokens and/or USDT, BTC, ETH etc.
“Liquidity Mining” means the Company providing access on the Savvix Platform to the process where Liquidity Mining Incentives may be distributed to users of the Liquidity Mining Protocol who contribute Liquidity Share to a Liquidity Pool and in accordance with Paragraph 4.5 of these Terms;
“Liquidity Mining Protocol” means a set of smart contracts developed by Savvix that facilitates Liquidity Mining;
“Liquidity Mining Network Parameters” has the meaning ascribed thereto in Paragraph 4.6.6 of these Terms;
“Liquidity Penalty” means any penalty as determined by the Liquidity Mining Protocol or Supported Liquidity Mining Network as a result of non-performance or inadequate or irregular performance by a Liquidity Pool or users of the Liquidity Mining Protocol;
“Liquidity Pool” means a pair of two Supported Tokens as set out on the Sites, that are pooled by the Liquidity Mining Protocol to form a Liquidity Pool;
“Liquidity Pool Withdrawal Fee” means a service fee payable by users to the Company to facilitate withdrawal of Supported Token(s) from Liquidity Share(s) provided by User to a Liquidity Pool;
“Liquidity Staking” means a quantum of the relevant Supported Token(s) which the User provides to a Liquidity Pool;
“Login Credentials” has the meaning ascribed thereto in Paragraph 5.2.1(b) of these Terms;
“Loss” means any and all losses, claims, liabilities, damages, suits, actions, demands, proceedings, costs, charges and/or expenses of whatsoever nature or howsoever arising, including any indirect, special, incidental, consequential or other losses of any kind, in tort, contract or otherwise (including but not limited to loss of revenue and income or profits);
“Network Attack & Vulnerabilities” means hacks, cyber-attacks, network attacks (including but not limited to double-spend attacks, majority mining power attacks and “selfish-mining” attacks, 51% or network attacks), distributed denials of service or errors, or any attacks, vulnerabilities or defects on the network;
“Network Fees” means such transaction cost payable, whether denominated in Digital Assets or otherwise, for the use of or execution of transactions on a network;
“Node Service Fees has the meaning ascribed thereto in Paragraph 4.2.1 of these Terms;
“OFAC” means the United States Office of Foreign Assets Control of the United States Department of the Treasury;
“Operational Period” the period which we operate a Savvix Staking Node;
“Option” means such put or call option of such terms as set out on the Sites, created over Digital Assets, proposed to be sold by the User;
“Other Liquidity Mining Charges” has the meaning ascribed thereto in Paragraph 4.6.3 of these Terms;
“Other Network Charges” has the meaning ascribed thereto in Paragraph 4.2.3 of these Terms;
“Payable Tax” has the meaning ascribed thereto in Paragraph 17.1 of these Terms;
“Privacy Policy” has the meaning ascribed thereto in Paragraph 1.5 of these Terms;
“Prohibited Uses” has the meaning ascribed thereto in Paragraph 10.3 of these Terms;
“Services” means the services and/or content provided by the Savvix Affiliates on or through the Sites or otherwise, including but not limited to the Staking Services, Lending Services and Liquidity Mining but shall not include any Third Party Integrated Applications;
“Sites” has the meaning ascribed thereto in Paragraph 1.1 of these Terms;
“Stake Slashing” means any penalty as determined by the Supported Staking Network as a result of non-performance or inadequate performance by a Staking Node;
“Staking” in relation to a Supported Token and its corresponding Supported Staking Network, means the pledging of such Supported Token(s) in accordance with the operating rules of such Supported Staking Network to support the processing of transactions, voting on network proposals or other activities of the Supported Staking Network, and “Stake” shall be construed accordingly;
“Staking Network Parameters” has the meaning ascribed thereto in Paragraph 4.2.6 of these Terms;
“Staking Node” in relation to a Supported Token and its corresponding Supported Staking Network, means the network node that participates in the consensus process of such Supported Staking Network by performing transaction validation or such other function to maintain the proper function of the Supported Staking Network which involve the Staking of Supported Tokens;
“Staking Rewards” in relation to a Supported Token and its corresponding Supported Staking Network, means the rewards attributable to the Supported Tokens subject of Staking on such Supported Staking Network;
“Staking Services” means the service provided by the Company to facilitate Staking of a User’s Staking Share on such User’s behalf using a Savvix Staking Node and in accordance with Paragraph 4.1 of these Terms;
“Staking Share” means a quantum of the relevant Supported Token(s) which the User puts into Staking Services in accordance with Paragraph 4.1 of these Terms;
“Supported Liquidity Mining Application” means a digital application that supports Liquidity Mining, Liquidity Pools and/or the Liquidity Mining Protocol;
“Supported Liquidity Mining Network” means a digital ledger network which supports Liquidity Mining, Liquidity Pools and/or the Liquidity Mining Protocol;
“Supported Staking Application” in relation to a Supported Token, means a digital application that supports Staking of such Supported Token as may be set out on the Sites;
“Supported Staking Network” in relation to a Supported Token, means a digital ledger network which supports Staking of such Supported Token;
“Supported Tokens” means the Digital Asset as may be set out on the Sites to be a Digital Asset for which Staking Services, Lending Services or Liquidity Mining are made available, or such other Digital Assets as determined by the Company in accordance with Paragraph 7 of these Terms;
“Third Party Integrated Applications” means the third party applications and interfaces which are integrated to the Sites;
“User” means a person or body corporate accessing or using the Sites / the Services;
“User Account” has the meaning ascribed thereto in Paragraph 5.2 of these Terms;
“User Address” in respect of a User means the Address designated by such User that is in compliance with Paragraph 5.4 of these Terms and in the event there is more than one such Address, shall include each of these Addresses that is in compliance with Paragraph 5.4 of these Terms; and
“User Information” in respect of a User has the meaning ascribed thereto in Paragraph 5.1.1 of these Terms.
2.2 Miscellaneous
In these Terms, unless the context otherwise requires:
words importing the singular include the plural and vice versa, words importing any gender include every gender;
references to a “person” include any company, limited liability partnership, partnership, business trust or unincorporated association (whether or not having separate legal personality) and references to a “company” include any company, corporation or other body corporate, wherever and however incorporated or established;
paragraph headings are for convenience of reference only and shall not affect the interpretation of these Terms;
the words “written” and “in writing” include any means of visible reproduction; and
any “Digital Asset” may be constituted in an amount that is not a whole number.
3. ELIGIBILITY
Access to the Sites is intended for and extended only to, and the Services are intended for and extended only to, a person or body corporate who is not a Disqualified Person/Entity.
Accordingly, you are not eligible to access the Sites or use the Services if you are a Disqualified Person/Entity. If you are a Disqualified Person/Entity, or if you are acting on behalf of a Disqualified Person/Entity, you should exit the Sites and cease usage of all Services immediately.
4. SERVICES
PART A: STAKING SERVICES
4.1 Staking Services
4.1.1 During the Operational Period, we or a Savvix Affiliate may, at our discretion, operate a Staking Node on the relevant Supported Staking Network to facilitate Staking Services.
4.1.2 Subject to Paragraph 4.1.1, if you wish for Savvix Staking Node to “Stake” your Supported Tokens and perform Staking Node functions on your behalf, you shall:
create a User and/or Savvix Account ;
· at our request, promptly provide to us the relevant User Address(es) for sending and receiving Supported Tokens in connection with the Staking Services;
· transfer such amount of Accepted Digital Assets and/or Supported Tokens being Staking Share(s) to be purchased, to such Address(es) as may be notified by the Company to you in writing or on the Sites; and
· stake or purchase such Staking Share(s) and adhere to such other requirements as set out on the Sites.
4.1.3 Staking Share(s) allow you to participate in the corresponding Staking Rewards as set out on the Sites which shall be credited to your relevant User Account. In connection with the foregoing, you acknowledge and agree that:
· Staking Services and the Savvix Platform do not constitute an opportunity to make an investment of any kind;
· there is no assumption or representation that you will receive any form of compensation or reward by using the Savvix Platform or the Staking Service;
· Staking Rewards may vary according to various factors including Node Service Fees, Other Network Charges and Stake Slashing;
· the Company and/or Savvix Affiliate is entitled to a share of the Staking Rewards at the rate as may be set out on the Sites from time to time;
· authority is granted by you to us to act on your behalf in connection with the Staking Services;
· such authority granted by you to us pursuant to this Paragraph 4.1.3 may be delegated by us to such third parties or Savvix Affiliate; and
· you approve and ratify all actions that we or our delegates take or refrain from taking in connection with the Staking Services;
· in the event Accepted Digital Assets were used to purchase the Staking Shares, Staking Rewards would be paid in the Supported Token relevant to the Staking Share; and
· Staking Share(s) may not be withdrawn from the User Account but may only be sold for the Supported Token(s);
4.1.4 You are deemed to have purchased:
· such number of Staking Shares equivalent to the amount of Supported Tokens received in your User Account in the event the auto purchase function active (i.e. is set to on); and
· such number of Staking Shares equivalent to your Staking Rewards less any deductions or fees set out under these Terms, in the event the auto-compound function is active i.e. (set to on) in your User Account.
Your order for auto-compound may only be changed within the prescribed period (if any) as set out on the Sites.
4.1.5 If you decide to no longer have Savvix Staking Node perform Staking Node functions on your behalf and in respect of your Staking Share:
· you shall unstake or sell your Staking Share(s) and adhere to such other requirements as set out on the Sites;
· you acknowledge and agree that we or any Savvix Affiliate may transfer such proceeds from the unstaking or sale of the Staking Share(s) and Staking Rewards (if any) to your User Account, less any deductions or fees set out under these Terms; and
· you acknowledge and agree that you will not be entitled to receive any Staking Rewards from such Staking Share(s) from the time you unstake or sell your Staking Share(s).
4.1.6 If we decide to discontinue operation of a Savvix Staking Node on a Supported Staking Network:
· we shall notify you in writing and/or form of e-notification of such discontinuation;
· you acknowledge and agree that you will not be entitled to receive any Staking Rewards from such Savvix Staking Node from the date on which a notice of discontinuation is provided to you in accordance with Paragraph 4.1.6(a) of these Terms (such date inclusive);
· you acknowledge and agree that you shall have no right(s), claim(s) or causes of action in any way whatsoever against any Savvix Affiliate (including the Company) in relation to such discontinuation; and
· we or such Savvix Affiliate (whichever is applicable) shall use reasonable endeavours to do all other things necessary to transfer such Supported Tokens and Staking Rewards (if any) to the relevant User Address(es) you have provided pursuant to Paragraph 4.1.2, less any deductions or fees (if any) set out under these Terms.
4.2 You acknowledge and accept the following
· any of the Savvix Affiliates may deduct a part of Staking Rewards attributable to your Staking Shares that would otherwise be payable to you (“Node Service Fees”) and distribute such Node Service Fees to us as remuneration for operating the Savvix Staking Node;
· we may in our sole and absolute discretion increase or decrease the Node Service Fees at any time without notice and your continuous or continued use of the Staking Services shall be deemed to constitute acceptance of the revised Node Service Fees;
· the Supported Staking Network and/or the Supported Staking Application may deduct Network Fees or other fees from Staking Rewards attributable to your Staking Share (“Other Network Charges”);
· any Staking Rewards attributable to your Staking Share may be reduced or penalised as a result of Stake Slashing;
· you shall have no further right(s), claim(s) or cause(s) of action against us or any other Savvix Affiliate in connection with Node Service Fees, Other Network Charges and/or Stake Slashing;
· the Supported Staking Network may have certain network parameters (“Staking Network Parameters”) which may affect or impede the Savvix Staking Node including but not limited to such Supported Staking Network: (a) having a limit on the number of Staking Nodes on the Supported Staking Network at any one time; or (b) having a limit on the number of Supported Tokens associated with Staking Nodes, and in the event of breach of such limit, our Staking Node may not be able to participate in such Supported Network whether temporarily or otherwise;
· there may be delays between the time when the Staking Shares are sold and the time when such Supported Tokens and/or Staking Rewards come to your possession and control. Such delay may be a result of:
· demand or lack thereof for the Supported Tokens;
· a delay imposed by the operating rules of the Supported Staking Network, Supported Staking Application, or a Savvix Staking Node; and/or
· an administrative processing time as determined by us in our sole and absolute discretion,
· and you shall have no further right(s), claim(s) or cause(s) of action against us or any other Savvix Affiliate arising from or in connection with such delays;
· any calculations or data in relation to Staking Rewards set out on the Sites are for reference only and are not to be construed to be an undertaking or guarantee by any Savvix Affiliate (including the Company). The projected Staking Rewards are intended for the purpose of illustrative projections and are subject to estimation. Any historical data, or probability projections may not reflect actual future receipts of Staking Rewards.
· the Accepted Digital Assets and/or Supported Tokens you have provided us and your Staking Rewards are pooled together with other Users and in the event of insolvency of the Company, there may be delays in identifying your assets and/or claims on your assets by creditors of the Company;
· since your Accepted Digital Assets and/or Supported Tokens and/or Staking Rewards will be pooled with other Accepted Digital Assets and/or Supported Tokens belonging to other users of the Savvix Platform, you will not have a legal claim against a specific sum of money or a specific sum of Accepted Digital Assets and/or Supported Tokens and/or Staking Rewards. Instead, any claim will be against the pool in general. If there is an irreconcilable shortfall in the pool of Accepted Digital Assets and/or Supported Tokens and/or Staking Rewards following a default by the wallet service provider or bank or depositary (for example, if it becomes insolvent), you may not receive your full entitlement to the Accepted Digital Assets and/or Supported Tokens and/or Staking Rewards. If so, you will share in the shortfall pro rata; and
· you will not be entitled to any interest in respect of the Accepted Digital Assets and/or Supported Tokens.
PART B: LIQUIDITY MINING
4.3 Liquidity Mining
4.3.1 We or a Savvix Affiliate may, at our discretion and through the Savvix Platform, allow access to Liquidity Mining which utilises the Liquidity Mining Protocol to create Liquidity Pools.
4.3.2 Subject to Paragraph 4.3.1, if you wish to participate in Liquidity Mining, you shall:
- create a User Account;
· at our request, promptly provide to us the relevant User Address(es) for sending and receiving Supported Tokens in connection with Liquidity Mining;
· transfer such amount of Accepted Digital Assets and/or Supported Tokens being Liquidity Share(s) to be pooled to such Address(es) as may be notified by the Company to you in writing or on the Sites; and
· provide and pool such Liquidity Share(s) and adhere to such other requirements as set out on the Sites.
4.3.3 Liquidity Share(s) allows you to participate in the corresponding Liquidity Pool(s) in order to receive such Liquidity Mining Incentives as set out on the Sites from time to time. In connection with the foregoing, you acknowledge and agree that:
· Liquidity Mining and the Savvix Platform does not constitute an opportunity to make an investment of any kind;
· there is no assumption or representation that you will receive any form of compensation or reward by using the Savvix Platform or Liquidity Mining;
· Liquidity Mining Incentives may vary from time to time according to various factors including but not limited to Liquidity Mining Fees, Other Liquidity Mining Charges, Liquidity Penalty and/or Impermanent Loss;
· the Company and/or Savvix Affiliate is entitled to a share of the Liquidity Mining Incentives at the rate as may be set out on the Sites from time to time;
· authority is granted by you to us to act on your behalf in connection with the Liquidity Mining;
· such authority granted by you to us pursuant to this Paragraph 4.3.3 may be delegated by us to such third parties or Savvix Affiliate;
· you approve and ratify all actions that we or our delegates take or refrain from taking in connection with the Liquidity Mining; and
· Liquidity Share(s) may not be sold or transferred, but provided Supported Token(s) may only be withdrawn from Liquidity Pools according to Paragraph 4.3.5.
4.3.4 You are deemed to have
· such number of Liquidity Shares equivalent to your Staking Rewards less any deductions or fees set out under these Terms, in the event the auto-compound function is active (i.e. set to on) in your User Account.
· Your order for auto-compound may only be changed within the prescribed period (if any) as set out on the Sites.
4.3.5 If you decide to withdraw Supported Token(s) provided as Liquidity Share(s) from a Liquidity Pool:
· you shall withdraw your Liquidity Share(s), transfer the Liquidity Pool Withdrawal Fee to such Address(es) as may be notified by the Company to you in writing or on the Sites, and adhere to such other requirements as set out on the Sites;
· you acknowledge and agree that we or any Savvix Affiliate may transfer the proceeds of withdrawn Liquidity Share(s) and/or Liquidity Mining Incentives (if any) to your User Account, less any deductions or fees set out under these Terms; and
· you acknowledge and agree that you will not be entitled to receive Liquidity Mining Incentives that are relevant to the Liquidity Pool(s) that you have withdrawn from.
4.3.6 If we decide to discontinue access to the Liquidity Mining Protocol or to a Liquidity Pool on the Liquidity Mining Protocol:
a. we shall notify you in writing of such discontinuation;
b. you acknowledge and agree that you will not be entitled to receive any Liquidity Mining Incentives from the date on which a notice of discontinuation is provided to you in accordance with Paragraph 4.3.6(a) of these Terms (such date inclusive);
c. you acknowledge and agree that you shall have no right(s), claim(s) or causes of action in any way whatsoever against any Savvix Affiliate (including the Company) in relation to such discontinuation; and
d. we or such Savvix Affiliate (whichever is applicable) shall use reasonable endeavours to do all other things necessary to withdraw any Liquidity Share(s) and transfer the relevant Supported Tokens and Liquidity Mining Incentives (if any) to the relevant User Address(es) you have provided pursuant to Paragraph 4.3.2, less any deductions or fees (if any) set out under these Terms.
4.4 You acknowledge and accept the following
4.4.1 any of the Savvix Affiliates may deduct a part of Liquidity Mining Incentives attributable to your Liquidity Shares that would otherwise be payable to you (“Liquidity Mining Fees”) and distribute such Liquidity Mining Fees to us as remuneration for providing access to Liquidity Mining through the Savvix Platform
4.4.2 we may in our sole and absolute discretion vary the Liquidity Mining Fees at any time without notice and your continuous or continued participation in Liquidity Mining shall be deemed to constitute acceptance of the revised Liquidity Mining Fees;
4.4.3 the Supported Liquidity Mining Network and/or the Supported Liquidity Mining Application may deduct Network Fees or other fees from Liquidity Mining Incentives attributable to your Liquidity Shares (“Other Liquidity Mining Charges”);
4.4.4 any Liquidity Mining Incentives attributable to your Liquidity Share may be reduced or penalised as a result of any Liquidity Penalty and/or Impermanent Loss;
4.4.5 you shall have no further right(s), claim(s) or cause(s) of action against us or any other Savvix Affiliate in connection with Liquidity Mining Fees, Other Liquidity Mining Charges Liquidity Penalty and/or Impermanent Loss;
4.4.6 the Supported Liquidity Mining Network may have certain network parameters (“Liquidity Mining Network Parameters”) which may affect or impede Liquidity Mining including but not limited to such Supported Liquidity Mining Network: (a) having a limit on the number of Liquidity Shares or Liquidity Pools on the Liquidity Mining Protocol at any one time; or (b) having a limit on the number of Supported Tokens associated with Liquidity Pools, and in the event of breach of such limit, the Liquidity Pools may not be able to participate in Liquidity Mining whether temporarily or otherwise;
4.4.7 there may be delays between the time when the Liquidity Shares are sold and the time when such Supported Tokens and/or Liquidity Mining Incentives come to your possession and control. Such delay may be a result of:
· demand or lack thereof for the Supported Tokens;
· a delay imposed by the operating rules of the Supported Liquidity Mining Network, Supported Liquidity Mining Application, or the Liquidity Mining Protocol; and/or
· an administrative processing time as determined by us in our sole and absolute discretion, and you shall have no further right(s), claim(s) or cause(s) of action against us or any other Savvix Affiliate arising from or in connection with such delays;
4.4.8 any calculations or data in relation to Liquidity Mining Incentives set out on the Sites are for reference only and are not to be construed to be an undertaking or guarantee by any Savvix Affiliate (including the Company). The projected Liquidity Mining Incentives are intended for the purpose of illustrative projections and are subject to estimation. Any historical data, or probability projections may not reflect actual future receipts of Liquidity Mining Incentives.
4.4.9 the Accepted Digital Assets and/or Supported Tokens you have deposited with us and your Liquidity Mining Incentives may be pooled together with other Users and in the event of insolvency of the Company, there may be delays in identifying your assets and/or claims on your assets by creditors of the Company;
4.4.10 since your Accepted Digital Assets and/or Supported Tokens and/or Liquidity Mining Incentives may be pooled with other Accepted Digital Assets and/or Supported Tokens belonging to other users of the Savvix Platform, you will not have a legal claim against a specific sum of money or a specific sum of Accepted Digital Assets and/or Supported Tokens and/or Liquidity Mining Incentives. Instead, any claim will be against the pool in general. If there is an irreconcilable shortfall in the pool of Accepted Digital Assets and/or Supported Tokens and/or Liquidity Mining Incentives following a default by the wallet service provider or bank or depositary (for example, if it becomes insolvent), you may not receive your full entitlement to the Accepted Digital Assets and/or Supported Tokens and/or Liquidity Mining Incentives. If so, you will share in the shortfall pro rata; and
4.4.11 you will not be entitled to any interest in respect of the Accepted Digital Assets and/or Supported Tokens.
PART C: Savvix Account
4.5 Your Savvix Account allows you to view your balances in connection with the Services provided to you by Savvix and access the Services and conduct certain transactions online. You are solely responsible for the activities under your Savvix Account and for securing your Savvix Account IDs, passwords, hints, or any other codes that you use to access your Savvix Account and the Services. Savvix is not responsible for any loss or compromise of your access information and/or your personal information, or for any loss that you may sustain due to compromise of your access information and/or personal information.
4.5.1 Savvix may restrict services in certain jurisdiction due to applicable laws, regulations, and business considerations, at its sole discretion. Any services available to you will be those accessible via your Savvix account.
4.5.2 Savvix will not be liable for following any instruction we receive through your Savvix Account, even if it was not authorized by you, or if it was entered by mistake or is otherwise inaccurate. To verify the authenticity of any instruction we receive through your Savvix Account, at our sole discretion we may require your signature or identification in any form we deem necessary, and we may accept digital images and electronic signatures for documents that need to be signed. You agree to reimburse us (and we may charge you or deduct from the balance of your Savvix Account) for all claims, costs, losses, and damages, including reasonable attorneys’ fees, that result from our following instructions we receive through your Savvix Account to take any action related to your Savvix Account.
4.5.3 Your Savvix Account is not a bank account, deposit account, savings accounts, checking account, or any other type of asset account and should not be characterized as a banking product or service. All Eligible Digital Asset balances on your Savvix Account represent Digital Assets that are either (1) held in your Token Wallet by Savvix or a Third Party Custodian, or (3) posted to Savvix as collateral and, therefore, owned, held and/or controlled by Savvix (under the applicable Service, as further detailed herein), and subject to Savvix’s obligation to deliver such Digital Assets back to you upon the termination of the applicable Service.
4.5.4 Savvix may freeze, suspend or terminate your Savvix Account at any time in its sole discretion, in addition to taking any action and seeking any remedy it may be entitled to in law or in equity, including if Savvix suspects your involvement in any fraudulent activity of any kind or other misuse of the Services, provision by you of inaccurate or misleading information, or your involvement in any money laundering or other financial crime related to you or your Savvix Account.
4.6 Savvix’s token wallet (“Token Wallet”) Service allows you to store Eligible Digital Assets in a Wallet accessible through your Savvix Account. Please note that when you use our token wallet service to store eligible digital assets you will not receive a financing fee, rewards or financial compensation of any kind on eligible digital assets so stored.
4.6.1 When you use the Token Wallet Service, you understand and agree that Savvix may act as the custodian or we may use a Third Party Custodian to provide the Custody Service. Savvix will inform, update, and/or obtain your consent in advance, as applicable, in the event that a Third Party Custodian is used to provide the Custody Service to you. Savvix will use reasonable skill in the selection, appointment, and periodic review of Third Party Custodians. By using the Custody Service, you understand and agree to appoint Savvix or a Third Party Custodian selected by Savvix as your agent to store and secure Eligible Digital Assets in a Token Wallet, and perform other duties customarily performed by a custodian. You understand that the Custody Service may be performed by a custodian in a jurisdiction other than where you are domiciled. By using the Custody Service, you authorize Savvix to transfer your Eligible Digital Assets to a Third Party Custodian or Custodians as may be selected by Savvix, and to instruct and cause any such Third Party Custodian to transfer your Eligible Digital Assets to another Third Party Custodian or Custodians as may be selected by Savvix, or to Savvix, in each case without the need for any further notice to or consent from you, and consistent with providing the Custody Services as set forth herein.
4.6.2 Title to any of your Eligible Digital Assets in a Token Wallet shall at all times remain with you and not transfer to Savvix. Savvix will not transfer, sell, loan or otherwise rehypothecate Eligible Digital Assets held in a Token Wallet unless specifically instructed by you, except as required by valid court order, competent regulatory agency, government agency or applicable law. As title owner of assets, you bear all risk of loss. Savvix shall have no liability for any Digital Asset price fluctuations or any or all loss of Digital Assets. Notwithstanding the foregoing, Savvix may suspend your access to Services, including the Custody Service and your access to a Token Wallet, in the event of market disruptions or periods of volatility. Savvix or a Third Party Custodian controls the private keys to the Blockchain addresses of all Token Wallets. Savvix will use reasonable care and commercially reasonable efforts in connection with the Custody Service to store and secure Eligible Digital Assets in a Token Wallet. You understand that your use of the Custody Service, whether provided by Savvix or a Third Party Custodian, does not create a fiduciary relationship between you and Savvix or any Third Party Custodian. Neither Savvix nor any Third Party Custodian has any fiduciary duty to you. Savvix has no duty to inquire into, supervise, or determine the suitability of any transaction you initiate involving Eligible Digital Assets in a Token Wallet. Eligible Digital Assets in a Token Wallet may be comingled with the Eligible Digital Assets of other Users, and Savvix is under no obligation to return the actual Eligible Digital Assets initially transferred by you to a Token Wallet, but will return Eligible Digital Assets of the identical type or any other form digital asset with the equivalent of amount reflected in your Savvix Account at the time you request such a return. Savvix may provide information regarding the Eligible Digital Assets in a Token Wallet to comply with any applicable law, regulation, rule, or request by law enforcement or government agencies.
4.6.3 Eligible Digital Assets held in a Token Wallet are subject to the other provisions of these Terms, unless where expressly stated otherwise. Token retains the right to set-off any Eligible Digital Assets in a Token Wallet against any obligations you may have to us. You understand and acknowledge that the legal treatment of Digital Assets remains unsettled and may vary depending on the jurisdiction in which you reside. In the event that you, Savvix or any Third Party Custodian becomes subject to an insolvency proceeding, it is unclear how your Digital Assets would be treated and what rights you would have to such Digital Assets. Savvix does not make any representation as to the likely treatment of Digital Assets in your Savvix Account, including those in a Token Wallet, in the event that you, Savvix or any Third Party Custodian becomes subject to an insolvency proceeding whether in the indonesia or in any other jurisdiction. You explicitly understand and acknowledge that the treatment of Digital Assets in the event of such an insolvency proceeding is unsettled, not guaranteed, and may result in a number of outcomes that are impossible to predict reliably, including but not limited to you being treated as an unsecured creditor and/or the total loss of any and all Digital Assets reflected in your Savvix Account, including those in a Token Wallet.
Upon your instruction to Savvix to use one of the other Services detailed in this Section (such as, but not limited to, Swap, pay, transfer and P2P transfer), or otherwise offered by Savvix, where such Services are available to you through your Account, the Eligible Digital Assets being used in such other Service may involve transferring your assets out of a Token Wallet. Eligible Digital Assets that are transferred out of, or not held in, a Token Wallet are not subject to the custody functions set forth in this Section.
5. USER INFORMATION, ACCOUNTS AND ACCOUNT REGISTRATION
5.1 User Information
5.1.1 Your access of the Sites and/or use of the Services shall be conditional on you providing the following information (“User Information”):
· your confirmation that you have read these Terms and acceptance thereof, including Annex 2; and
· such other information any Savvix Affiliate (including the Company) determines is necessary in its respective sole discretion in order to comply with Applicable Laws or otherwise in connection with your access of the Sites and/or the provision of Services to you, including but not limited to the information as requested on the Sites.
5.1.2 You agree that we may, without prior notice to you, suspend, restrict, or terminate your access to the Sites and/or use of the Services until any requested User Information has been provided to our satisfaction. You also irrevocably and unconditionally agree that such User Information provided by you to us may be shared without limitation or restriction with any other Savvix Affiliate for the purpose of providing the Services or compliance with any Applicable Laws in connection with the Services.
5.1.3 By submitting any of your User Information, you represent and warrant to each Savvix Affiliate (including the Company) that such User Information as submitted is complete, accurate and authentic and you shall promptly update us of any changes to your User Information. In the event of any change to your User Information, you agree that we may, without prior notice to you, suspend, restrict, or terminate your access to the Sites and/or use of the Services until any such change has been provided to our satisfaction.
5.1.4 By submitting your User Information, you shall be deemed to have authorised, permit and/or authorised:
· any Savvix Affiliate (including Company) to directly or through third parties make inquiries which any Savvix Affiliate (including Company) in its absolute discretion considers necessary to verify such User Information as submitted for the purpose of compliance with any Applicable Laws or otherwise; and
· any Savvix Affiliate (including Company) to take any action which any Savvix Affiliate (including Company) deems necessary based on the results of such inquiries.
5.2 User Account and Account Credentials
5.2.1 You may be required to register an account (“User Account”) to access the Sites and/or use the Services. If so, you agree and accept to the following:
· you shall not grant any other person access to your User Account;
· you shall keep all your login credentials and other required forms of authentication (including any API keys) in connection with your User Account (“Login Credentials”) confidential and secure, and that you shall be solely responsible for maintaining the security and confidentiality of Login Credentials;
· you shall not hold us or any other Savvix Affiliate, responsible for any unauthorised use of your User Account or any Loss or damage occasioned to you in connection with such use;
· we shall have the right, in our sole and absolute discretion to at any time suspend, restrict, or terminate your User Account and/or your access to your User Account for any reason, including but not limited to the following:
a. us having reasonable grounds to believe that you are attempting to compromise the Savvix Platform, the Supported Staking Network or the Supported Liquidity Mining Network;
b. us having reasonable grounds to believe that you are in breach of these Terms; and
c. us and/or any other Savvix Affiliate having to comply with any Applicable Laws in connection with the provision of Services.
5.3 Withdrawals
5.3.1 For every withdrawal request, you will be required to provide the details of the Virtual Wallet to which you wish to receive your repayment of Digital Assets. For the avoidance of doubt, any repayment shall be in-kind (i.e., in the same type of Eligible Digital Assets loaned by you, but not the actual same Digital Assets originally transferred by you). In the event that the details you provide are inaccurate, incomplete, or misleading, your Digital Assets may be permanently lost. Savvix will not be liable for any loss that results from inaccurate, incomplete, or misleading details that you may provide for such transfer. If the transfer address you specify is one to which we are unable to process transfers, we will have no liability for any resulting failure or delay in processing your requested withdrawal.
5.3.2 Savvix and our third-party partners may experience cyber-attacks, extreme market conditions, or other operational or technical difficulties which could result in the immediate halt of transactions either temporarily or permanently. Provided that Savvix has taken reasonable commercial and operational measures to prevent such events in technical systems controlled by Savvix, Savvix is not and will not be responsible or liable for any loss or damage of any sort incurred by you as a result of such cyber-attacks, operational or technical difficulties or suspensions of transactions. Withdrawal limits based on amounts and/or frequency may apply from time to time, based on legal, regulatory, AML and/or security considerations. Our policies and procedures may require additional security and/or compliance checks that require additional time to complete. Any individual request to exceed withdrawal limits set by Savvix must be sent via email to contact@savvix.io or raise ticket to our support team.
5.3.3 Every transmission request shall be deemed pending until accepted by us. We may refuse to accept such request, or delay the processing of an approved request for any reasonable reason, including but not limited to inaccurate or misleading information provided by you, or any doubt or suspicion of fraud, misrepresentation, a sanctioned transaction, money laundering, terrorism financing or other financial crime related to your Savvix Account.
5.3.1 Withdrawals from your Savvix Account are subject to prior request on the Site and withdrawals are made to you in the same Supported Token(s) which were deposited or in the event Accepted Digital Assets was used as Staking Share(s) or Liquidity Share(s), the Supported Token(s) relevant to such Staking Share(s) or Liquidity Share(s) or Token earning(s) or Airdrop(s)
5.3.2 Withdrawals of Supported Token(s) shall be processed by the Company in a reasonably timely manner, depending on the amount being withdrawn and where the amount is stored.
5.3.3 You acknowledge and agree that in no circumstances will the Company be liable for any delay in processing any withdrawal request, including in the event of fluctuation of the value of the applicable Digital Assets between request and remittance of the withdrawn Digital Assets.
5.3.4 You represent and warrant that the User Address(es) to which the Company is requested to remit the Supported Tokens is beneficially owned by you.
5.3.5 The Company accepts no responsibility and will issue no compensation if payment is returned or refunded to an Address the User cannot access except in the event of the Company’s gross negligence.
5.3.6 The Company may link to third party block explorers for purposes of processing any withdrawals. The Company accepts no liability for the acts or omissions of any such third party.
5.4 User Address
5.4.1 Your User Address:
· shall be owned, held, and be fully controlled by you. In the event where a cryptocurrency exchange or cryptocurrency service provider owns the hosted wallet address, you shall own and control a corresponding cryptocurrency account;
· shall not be an Address owned, held, or controlled by a person other than you. In the event where a cryptocurrency exchange or cryptocurrency service provider owns the hosted wallet address, you shall own and control a corresponding cryptocurrency account; and
· must be fully compatible with and supports the Accepted Digital Asset(s) and/or the Supported Token(s) (as the case may be) and the Services.
6. CONDITIONS
6.1 The Company’s performance of Staking Services is conditional on all the following:
· a Savvix Staking Node satisfying all the Network Parameters as required by the applicable Supported Staking Network;
· your representations and warranties as set out in Paragraph 8 of these Terms being true and accurate at all times while you have any Supported Tokens subject to Staking Services provided by us;
· neither your use of any of the Staking Services or our provision of the Staking Services, constitute, or would be reasonably expected to result in a breach, default, contravention or violation of any Applicable Law applicable to you or the Savvix Group, or any contract or agreement to which you or the Savvix Group is a party or by you or the Savvix Group is bound, including these Terms and any ancillary agreements of any Supported Staking Network or Supported Staking Application.
6.2 The Company’s provision of Liquidity Mining is conditional on all of the following:
· the Liquidity Mining Protocol satisfying all the Liquidity Mining Network Parameters as required by the applicable Supported Liquidity Mining Network;
· your representations and warranties as set out in Paragraph 8 of these Terms being true and accurate at all times while you have any Supported Tokens which are subject to Liquidity Mining;
· neither your use of Liquidity Mining or our provision of Liquidity Mining, constitute, or would be reasonably expected to result in a breach, default, contravention or violation of any Applicable Law applicable to you or the Savvix Group, or any contract or agreement to which you or the Savvix Group is a party or by you or the Savvix Group is bound, including these Terms and any ancillary agreements of any Supported Liquidity Mining Network or Supported Liquidity Mining Application.
7. SUPPORTED TOKENS
7.1 We shall have sole and absolute discretion to determine the type of Digital Assets which qualify as a Supported Token in respect of which we will offer Staking Services, Lending Services and/or Liquidity Mining.
7.2 Notwithstanding such Supported Tokens as may be set out on the Sites, we may from time to time in our sole and absolute discretion and without prior notice to you:
· include additional Digital Assets as Supported Tokens in respect of which we will offer Staking Services, Lending Services and/or Liquidity Mining;
· exclude Digital Assets from existing Supported Tokens whereupon we shall cease to provide Staking Services, Lending Services and/or Liquidity Mining in respect thereto; and
· restrict or limit the availability of our Staking Services, Monetizing Through Crypto Asset Services, Tokenization Servicers, Services and/or Liquidity Mining in respect of any Supported Token.
7.3 Unless otherwise determined by us in our sole and absolute discretion, a Supported Token shall not include any derivative of such Supported Token (whether resulting from a Fork or otherwise) unless such derivative has been included by us as a Supported Token. In the event of a Fork in relation to a Supported Token, you acknowledge and agree that we or a Savvix Affiliate shall not be obliged to notify you of any Fork, claim any tokens, rewards or any applicable distribution attributable to your holding of such Supported Token or our holding of such Supported Token on your behalf or otherwise be responsible for any Loss in relation to the Fork.
7.4 We are entitled to in our absolute discretion (but for avoidance of any doubt we are not obligated to do so) to adjust your User Account in respect of a Fork depending on the circumstances of each event attributable to any Supported Token(s) held by you. Such adjustment shall be calculated by us. In doing so we will make efforts to effect such adjustment on the basis of good faith and fairness and, where appropriate, by taking such action as is consistent with market practice and/or taking into account the treatment we may receive from our counterparties or any relevant third party.
7.5 The Company will not be liable for any reason for any fluctuation in the value of Supported Token(s) held in our custody or while being processed by us versus another currency or other Digital Asset.
7.6 Swap
i. Introduction to Swap Service
Our Swap Service, if available to you, allows you to exchange one type of Eligible Digital Asset for another type of Eligible Digital Asset in your Savvix Account, provided that the exchange is of a Digital Asset pair supported by Savvix’s (“Supported Pair”). Celsius may choose to add, remove, change, or impose any additional limits on Supported Pairs from time to time, in its sole discretion and without providing prior notice.
By using Savvix Swap Service, you will allow Celsius to exchange the type and amount of the Digital Asset in your Celsius Account that you choose to swap (the “Swapped Assets”) into the type of Digital Asset you choose to receive (the “New Assets”). The amount of New Assets to be received in exchange for the Swapped Assets is determined by the amount of Swapped Assets multiplied by the applicable conversion rate of the relevant Digital Asset pair (the “Exchange Rate”).
ii. Exchange Rates
Savvix will use reasonable efforts to source the best rate for a Supported Pair across multiple venues. However, we cannot guarantee that the Exchange Rates offered on our platform would always be optimal, and you understand and acknowledge that Savvix is not under any obligation to provide the best rate for a Supported Pair. You further acknowledge that it is your responsibility to check if a better rate is available on another platform. In line with Savvix commitment to transparency, the Exchange Rates quoted may include an offset from the prevailing market rate (also known as “spread”) to mitigate both Savvix exposure to price volatility between the time the Exchange Rate is confirmed and the time the transaction is executed. The spread may be set by Savvix and/or third party vendors working with Savvix to complete the Swap transaction.
Exchange Rates available on our platform are moment-in-time specific, and due to the volatility in crypto markets, change constantly and rapidly. An Exchange Rate is only final when you approve the transaction and it has been accepted and confirmed.
iii. Swap Transactions are Final
All Swap transactions are final and irreversible once approved by you. You should therefore carefully review the terms of each transaction before you approve it. Celsius will not be liable for any errors in your order. If you believe a transaction was not executed in accordance with your instructions, please contact contact@savvix.io
We may reject or cancel a Swap transaction where we deem it reasonably necessary, e.g., where there was an error in the Exchange Rate or in the execution of the transaction, or where the quoted Exchange Rate is no longer available.
8. ACKNOWLEDGEMENTS, REPRESENTATIONS AND WARRANTIES
8.1 By accepting these Terms, you represent and warrant to each Savvix Affiliate (including the Company) as follows:
8.1.1 you acknowledge and agree that the Accepted Digital Assets and/or Supported Tokens in relation to the Services are not to be construed, interpreted, classified or treated as:
· any kind of currency;
· debentures, stocks or shares
· rights, options or derivatives in respect of such debentures, stocks or shares;
· rights under a contract for differences or under any other contract the purpose or pretended purpose of which is to secure a profit or avoid a loss;
· units in a collective investment scheme;
· units in a business trust;;
· derivatives of units in a business trust; or
any form of investment;
8.1.2 you acknowledge and agree that the Services, Accepted Digital Assets and Supported Tokens do not and are not intended to constitute securities of any form, units in a business trust, units in a collective investment scheme or any other form of investment in any jurisdiction and these Terms do not and is not intended to constitute an offer of securities of any form, units in a business trust, units in a collective investment scheme or any other form of investment in any jurisdiction or a solicitation for any form of investment in any jurisdiction;
8.1.3 you acknowledge and agree that none of the Services or any of the Accepted Digital Assets or Supported Tokens shall be construed, interpreted, classified or treated as enabling, or according any opportunity to, you to participate in or receive profits, income, or other payments or returns arising from or in connection with any of the Services, Accepted Digital Assets and Supported Tokens, or to receive sums paid out of such profits, income, or other payments or returns;
8.1.4 you acknowledge that no regulatory authority has examined or approved of these Terms, no such action has been or will be taken under the laws, regulatory requirements or rules of any jurisdiction, and the provision of these Terms to you does not imply that the applicable laws, regulatory requirements or rules have been complied with;
8.1.5 you have read and understood all of these Terms including the Annexes hereto;
8.1.6 any User Address provided by you is fully operational, secure and valid;
8.1.7 you are not, and you are not acting on behalf of, a Disqualified Person/Entity;
8.1.8 you have full power and capacity to accept these Terms and perform all your obligations hereunder and in the case where you are accepting these Terms on behalf of a corporation:
8.1.9 such corporation is duly incorporated and validly existing under the Applicable Laws; and
8.1.10 you are duly authorised to accept these Terms and procure the performance of obligations hereunder;
8.1.11 you have at least a basic degree of understanding of the operation, functionality, usage, storage, transmission mechanisms and other material characteristics of the Services, Staking networks, Staking, Options, cryptographic tokens, digital assets and tokens including the Accepted Digital Assets and Supported Tokens, digital ledger-based software systems, digital asset wallets and interfaces (including Supported Staking Application), or other related token storage mechanisms, token exchanges, blockchain and distributed ledger technology, and smart contract technology;
8.1.12 you are fully aware of, understand and agree to assume all the risks (including direct, indirect or ancillary risks) associated with any of the Services, Staking, Options, the Sites, the Savvix Affiliates (including the Company), the Accepted Digital Assets, the Supported Tokens, your use of any of the Services, any digital asset wallet or interface (including Supported Staking Application) used in connection with any of the Services, User Address, your provision of User Address, the Sites and any extension of the Sites, including but not limited to the risks set out in the Annex 1 hereto;
8.1.13 these Terms constitute legal, valid and binding obligations on you, which are enforceable in accordance with these Terms, and neither your use of any of the Services, purchase, receipt, nor 8.1.14 holding of any Supported Token or Accepted Digital Asset is in breach or contravention of any Applicable Laws in your jurisdiction;
8.1.15 you are not a citizen or resident of any jurisdiction in which either the use of any of the Services, exchange, purchase, receipt, or holding of Supported Tokens or Accepted Digital Assets is prohibited, restricted, curtailed, hindered, impaired or otherwise adversely affected by any Applicable Laws;
8.1.16 no consent, approval, order or authorisation of, or registration, qualification, designation, declaration or filing with, any regulatory authority in any jurisdiction (the “Approvals”) is required on your part in connection with your use of any of the Services, or where any Approvals are required, such Approvals have been obtained and remain valid and in full force and effect;
8.1.17 the Supported Tokens and the Accepted Digital Assets used for transactions or payment on the Savvix Platform have not been obtained through any acts in connection with money laundering, terrorism financing or any other acts in breach or contravention of any Applicable Law;
8.1.18 you have sufficient Digital Assets to fulfil your obligations under these Terms;
8.1.19 the Supported Tokens, Staking Rewards, Inflow Amounts, proceeds from the sale of the Options or refunds in Accepted Digital Assets to be delivered to and received by you will not be used for any purpose in connection with money laundering, terrorism financing or any other acts in breach or contravention of any Applicable Laws;
8.1.20 you are using the Services as principal and for your own benefit and you are not acting on the instructions of, or as nominee or agent for or on behalf of any other person;
8.1.21 you have not created multiple user accounts; and
8.1.22 all of the above representations and warranties are true, complete, accurate and non-misleading from the time of your acceptance of these Terms.
8.2 None of the Savvix Affiliates (including the Company) makes or purports to make, and each Savvix Affiliate (including the Company) hereby disclaims and you hereby acknowledge that in any event you have not relied upon nor will you rely upon, any representation or warranty in any form whatsoever, including any representation or warranty in relation to:
· any Accepted Digital Asset, Supported Token, Supported Staking Network, the Supported Liquidity Mining Network, Supported Staking Application, Supported Liquidity Mining Application or the Hash Power;
· the Sites or any information set out in the Sites or any other place;
· any Savvix Affiliate (including Company);
· any of the Services; and
· your Savvix and/or User Account
9. DISCLAIMERS
9.1 To the maximum extent permitted by all Applicable Laws, regulations and rules of the Republic of indonesia and except as otherwise provided in these Terms, each Savvix Affiliate (including the Company) hereby expressly disclaims its liability and shall in no case be liable to you or any person for, which you hereby acknowledge:
· the Supported Tokens or Accepted Digital Assets being obtained through any acts in connection with money laundering, terrorism financing or any other acts in breach or contravention of any Applicable Laws;
· use of Services, Supported Tokens or Accepted Digital Assets for any purpose in connection with money laundering, terrorism financing or any other acts in breach or contravention of any Applicable Laws;
· failure or delay in the operation of the Services, Savvix Platform, Supported Staking Network, Supported Liquidity Mining Network, Supported Staking Application or Supported Liquidity Mining Application;
· failure, malfunction or breakdown of, or disruption to, the operation of any Savvix Affiliate (including the Company), Savvix Platform, Supported Staking Network, Supported Liquidity Mining Network, Supported Staking Application, Supported Liquidity Mining Application, Supported Tokens, or any technology (including but not limited to Staking, Options, Liquidity Mining and smart contract technology) on which any Savvix Affiliate (including the Company), the Savvix Platform, Supported Staking Network, Supported Liquidity Mining Network, Supported Staking Application, or Supported Liquidity Mining Application relies on, due to occurrences of a Fork, hacks, network attacks (including but not limited to double-spend attacks, majority mining power attacks, “selfish-mining” attacks, 51% or majority Staking attacks), cyber-attacks, distributed denials of service, errors, vulnerabilities, defects, flaws in programming or source code or otherwise, regardless of when such failure, malfunction, breakdown, or disruption occurs;
· any virus, error, bug, flaw, defect or otherwise adversely affecting the operation, functionality, usage, storage, transmission mechanisms, transferability or tradeability and other material characteristics of the Savvix Platform, Supported Staking Network, Supported Liquidity Mining Network, Supported Staking Application, Supported Liquidity Mining Application or Supported Tokens;
· decreases or volatility in traded prices or trading volume of the Supported Tokens or Accepted Digital Assets;
· failure or unfitness of any of the Services, the Savvix Platform, Supported Staking Network, Supported Liquidity Mining Network, Supported Staking Application, Supported Liquidity, Token Earning, Stablecoin investment, Mining Application or Supported Tokens for any specific purpose;
· failure to disclose information relating to the progress of the Savvix Platform;
· loss of possession of the credentials for accessing, or loss or destruction of the private keys of, any wallet, the User Account, in any manner and to any extent;
· any prohibition, restriction or regulation by any government or regulatory authority in any jurisdiction of the operation, functionality, usage, storage, transmission mechanisms, transferability or tradeability of the Supported Tokens or other material characteristics of the Supported Tokens;
· any prohibition, restriction or regulation by any government or regulatory authority in any jurisdiction of the operation, functionality, usage, transmission mechanisms of the Services and/or Savvix Platform or other material characteristics of the Services and/or Savvix Platform; and
any risks (whether direct, indirect or ancillary) associated with the Sites, the Services, any Savvix Affiliate (including the Company), the Savvix Platform, Supported Staking Network, Supported Liquidity Mining Network, Supported Staking Application, Supported Liquidity Mining Application, Accepted Digital Assets, Supported Tokens, Staking, and your use of the Services, including but not limited to the risks set out in Annex 1 hereto.
9.2 You acknowledge and agree that you shall access and use the Services at your own risk. The risks associated with Token Earning, Airdrop, affiliate token commissions and Staking (including but not limited to Stake Slashing) and Options can be substantial. You should, therefore, carefully consider whether your participation in Staking or Options is suitable for you in light of your circumstances and financial resources. None of the Savvix Affiliates (including the Company) at any point in time assume the risk of Losses arising from or in connection to Savvix Platform or the Services, whether or not such Loss was due to factors beyond any Savvix Affiliate’s (including the Company’s) control.
9.3 In the event of any Loss, hack or theft of Digital Assets, you acknowledge and confirm that you shall have no right(s), claim(s) or causes of action in any way whatsoever against any Savvix Affiliate (including the Company).
10. GENERAL TERMS AND PROHIBITED USE
10.1 You shall be responsible for the reporting requirements under the Applicable Laws in respect of any dealing with Digital Assets including the reporting requirements in respect of any taxable income derived in connection with the use of Services to the relevant Governmental Authority.
10.2 Your relationship with us and the operation and use of Services shall be subject at all times to the Applicable Laws. Any Savvix Affiliate (including the Company) may take or refrain from taking any action whatsoever, and you shall comply with, and shall do all things required by any Savvix Affiliate (including the Company) in order to procure or ensure compliance with Applicable Laws. You acknowledge and agree that no Savvix Affiliate (including the Company) shall be liable to you as a result of any action taken by any Savvix Affiliate (including the Company) to comply with Applicable Laws.
10.3 You may not use the Services to engage in the following categories of activity (“Prohibited Uses”). The specific types of use listed below are representative, but are not to be considered to be exhaustive. We may update the Prohibited Uses of the Services from time to time, and you hereby acknowledge and agree that it shall be your sole responsibility to ensure that your use of the Services does not involve a Prohibited Use.
By using the Services, you confirm that you will not, and you will not aid, abet, encourage or induce any third party to engage in any of the following activities:
10.3.1 unlawful activity: activities which would:
· violate, or assist in the violation of, any Applicable Laws administered in the countries where the Savvix Group conducts business;
· involve proceeds of any unlawful activity; and/or
· publish, distribute or disseminate any unlawful material or information;
10.3.2 abusive activity: actions which:
· impose an unreasonable or disproportionately large load on our infrastructure, or detrimentally interfere with, intercept, or expropriate any system, data, or information;
· transmit or upload any material to the Sites and/or the Savvix Platform that contains viruses, trojan horses, worms, or any other harmful or deleterious programs;
· attempt to gain unauthorised access to the Sites and/or the Savvix Platform, computer systems or networks connected to the Sites and/or the Savvix Platform, through password mining or any other means;
· creating multiple User Accounts;
· use User Information of another party to access or use the Sites and/or the Savvix Platform;
· develop any third-party applications that interact with the Sites and/or Savvix Platform without our prior written consent; and/or
· transfer your account access or the rights to your account to a third party, unless by operation of law or with our express permission;
10.3.3 abuse other Users: activities which:
· interfere with another User’s access to or use of any of the Services;
· defame, abuse, extort, harass, stalk, threaten or otherwise violate or infringe the legal rights (such as, but not limited to, rights of privacy, publicity and intellectual property) of others, including but not limited to the Savvix Group, its representatives, employees, agents, and affiliates;
· incite, threaten, facilitate, promote, or encourage hate, racial intolerance, or violent acts against others; and/or
· use any robot, spider, crawler, scraper or other automated means or interface not provided by us to access the Services or to harvest or otherwise collect information from the Sites and/or the Savvix Platform, including but not limited to identification numbers, email addresses, phone numbers, or addresses without proper consent;
10.3.4 fraud: activity which operates to defraud Users or any other person; provide any false, inaccurate, incomplete, or misleading information to any Savvix Affiliate (including the Company);
10.3.5 gaming: gaming activities (the playing of any game of chance or of mixed chance and skill for money or money’s worth) including amongst others:
· e-sports forecasting or odds making;
· lotteries;
· bidding fees auction;
· fantasy sports leagues with cash prizes;
· online video gaming;
· sweepstakes; and/or
· e-games of chance;
10.3.6 intellectual property infringement: any transactions, activities, and/or actions that:
· (whether or not involving items) infringe or violate any copyright, trademark, right of publicity or privacy or any other proprietary right under the law, including but not limited to the creation, issuance, sale, offer for sale, trading, distribution, solicitation, marketing, or promotion of any investment products (including digital assets, fiat currency, securities, commodities, investment or trading products, derivatives, structured products, investment funds, investment portfolios, commodity pools, swaps, securitisations or synthetic products), including where the price, return, and/or performance of the investment product is based on, derived from, or related to any Savvix Affiliate (including the Company) or any portion thereof, without our express prior written consent;
· modify, copy, reproduce, retransmit, distribute, sell, publish, broadcast, create derivative works from, or store proprietary or confidential data or other similar information provided via Sites, without our express prior written consent;
· make use of intellectual property, name, or logo, including use of trade or service marks belonging to any Savvix Affiliate (including the Company), without express consent from us or in a manner that otherwise harms any Savvix Affiliate (including the Company);
· reverse engineer or disassemble any aspect of the Savvix Platform and/or the Services in an effort to access any source code, underlying ideas and concepts, and algorithms which are not already publicly disclosed by the Savvix Group; and/or
· implies an untrue endorsement by or affiliation with any Savvix Affiliate (including the Company);
· activity which brings disrepute and/or is detrimental to the Savvix Group: any activity which could be expected to bring disrepute upon or be detrimental to the Savvix Group, the Services, the Sites, the Savvix Platform, you, or any other third party;
· Disqualified Person/Entity: if you are Disqualified Person/Entity, using any virtual private network, proxy service, or any other third party service network, or product with the effect of disguising your internet protocol (IP) address or location;
· prohibited businesses: use the Services in connection with any of following businesses, activities, practices, or items which are prohibited or in conflict with the Applicable Laws; and/or
· breach of these Terms: any activities, and/or actions that are in breach of and/or violate these Terms.
11. LIMITATION OF LIABILITY AND INDEMNIFICATION
11.1 In addition and without prejudice to any other right or remedy under these Terms and to the maximum extent permitted by all applicable laws, regulations and rules of the Republic of Indonesia and except as otherwise provided in these Terms:
· no Savvix Affiliate (including the Company) shall be liable for any Loss arising out of or in connection with the use of the Services, or the use, receipt or holding of Accepted Digital Assets or Supported Tokens by you;
· in any event, the aggregate liability of the Savvix Group, in tort, contract or otherwise, arising out of or in connection with the use of Services, or the use, receipt or holding of Accepted Digital Assets or Supported Tokens by you shall be limited to the such Accepted Digital Assets or Supported Tokens received from you; and
· you hereby agree to waive all rights to assert any claims under Applicable Laws and agree that you may make claims based only on these Terms.
11.2 To the maximum extent permitted by the applicable laws, regulations and rules of the Republic of Indonesia, you shall indemnify, defend, and hold each Savvix Affiliate (including the Company), and/or their subsidiaries, related companies, affiliates, directors, officers, employees, agents, successors, and permitted assignees (“Indemnified Persons”) harmless from and against any and all Losses (including but not limited to reasonable legal fees incurred and/or those necessary to successfully establish the right to indemnification) filed/incurred by any third party against any of the Indemnified Persons arising out of a breach of any warranty, representation, or obligation hereunder.
12. NO ASSIGNMENT
Subject to these Terms, only you and no other person shall have the right to any claim against any Savvix Affiliate (including the Company) in connection with the Services. You shall not assign, trade or transfer, or attempt to assign, trade or transfer, your right to any such claim. Any such assignment or transfer shall be void and shall not impose any obligation or liability on any Savvix Affiliate (including the Company) to the assignee or transferee.
13. INTELLECTUAL PROPERTY RIGHTS
These Terms shall not entitle you to any intellectual property rights, including the rights in relation to the use, for any purpose, of any information, image, user interface, logos, trademarks, trade names, Internet domain names or copyright in connection with the Sites, the Savvix Platform, the Services, any Savvix Affiliate (including the Company).
14. SURVIVING TERMS
Paragraphs 8 to 21 (including this Paragraph 14) hereto shall remain valid and in full force and effect notwithstanding any rescission or termination of these Terms and any rights or obligations of the Parties in respect of any breach of these Terms accruing prior to, on or as a result of such termination or rescission shall continue to subsist notwithstanding such termination or rescission.
15. WAIVER
Any failure by any Savvix Affiliate (including the Company) to enforce these Terms or to assert any right(s), claim(s) or causes of action against you under these Terms shall not be construed as a waiver of the right of any Savvix Affiliate (including the Company) to assert any right(s), claim(s) or causes of action against you.
We may delay the exercise of any rights we have under these Terms, and any such delay shall not result in a waiver, relinquishment or modification of any of our rights. If we delay in any exercise of our rights, or if notwithstanding the foregoing Celsius somehow is deemed to have waived any of our rights, you are still obligated to pay us Obligations you may owe us, remove any violation of these Terms and/or otherwise follow our instructions (as applicable). Any delay or waiver of our rights applies only to the specific instance in which we decide to delay or waive the provision and does not affect our other or subsequent rights in any way.
Waiver of class actions and class arbitrations. You and Savvix agree that each party may bring disputes against the other party only in an individual capacity, and not as a plaintiff or class member in any purported class or representative proceeding, including without limitation federal or state class actions, or class arbitrations. Without limiting the generality of the foregoing, you and Savvix agree that no dispute shall proceed by way of class arbitration without the written consent of all affected parties.
16. CHANGE IN TERMS
Please be aware that the terms and conditions governing the Services can change over time. We reserve the right to discontinue or make changes to any of the Services. We may change these Terms, and we may add to or delete from these Terms, and the updated version will supersede all prior versions. We will provide notice of changes, additions, and deletions, as required by law. If we have provided advance notice and you do not agree with a change, you may close your Celsius Account(s) and demand repayment of outstanding loans before the effective date of the change, which shall be your sole remedy. The continued maintenance of your Celsius Account following the effective date of any change will constitute your acceptance of such change and subject your Celsius Account to the modified Terms.
17. ENTIRE AGREEMENT
These Terms contain the entire agreement and the understanding between the Parties and supersedes all prior agreements, understandings or arrangements (both oral and written) in relation to the use of Services.
In the event that any Savvix Affiliate (including the Company) discovers that you, in your use of the Services, have engaged in any of the Prohibited Uses or any other unfair, excessive or abusive usage or conduct, the Savvix Group reserves the right to take such actions as may be necessary, to the fullest extent possible under law, to protect any Savvix Affiliate (including the Company) from any Loss.
18. TAXES
The use of Services shall be exclusive of all taxes that are applicable to, arising from, or in connection to your use of the Services including your receipt and holding of Accepted Digital Assets or Supported Tokens in any jurisdiction (“Payable Tax”).
You shall be responsible for determining any Payable Tax and declaring, withholding, collecting, reporting and remitting the correct amount of Payable Tax to the appropriate tax authorities. You shall be solely liable for all penalties, claims, fines, punishments, or other liabilities arising from the non-fulfilment or non-performance to any extent of any of your obligations in relation to the Payable Tax.
No Savvix Affiliate (including the Company) shall be responsible for determining any Payable Tax and declaring, withholding, collecting, reporting and remitting the correct amount of Payable Tax to the appropriate tax authorities.
19. Conflict/Disputes Involving Your Celsius Account
19.1 We are not liable to you for errors that may result in a financial loss to you. We may take any action that is authorized or permitted by these Terms or applicable laws without liability to you, even if such action causes you to incur fees, expenses or damages. If third parties make claims on your Savvix Account, or if we receive conflicting instructions from you, or if we become involved in or concerned about a dispute between you and any third party, we reserve the right to react in ways that we believe in good faith to be appropriate, including by closing, suspending or freezing your Savvix Account, delivering the Digital Assets available therein to you or to any third party, or interpleading assets to court, all as we reasonably deem appropriate under the circumstances. You are liable for all expenses and fees we incur for such conflicts or disputes, including internal costs and attorneys’ fees, and we may charge or deduct them directly from your Savvix Account balance.
19.2 We are not responsible for delays or losses incurred as a result of an error in the initiation of any transaction and have no obligation to assist in the remediation of such transactions. By initiating any transfer or using Savvix Services in any way, you attest that you are transacting in an Eligible Digital Asset which conforms to the particular Virtual Wallet into which assets are directed. For example, if you select an Ethereum Virtual Wallet Address or trust wallet to receive assets, you shall be solely responsible to assure that you are initiating a transfer of Ethereum alone, and not any other currency such as Bitcoin or Ethereum Classic. Savvix incurs no obligation whatsoever with regard to non- Eligible Digital Assets sent to Savvix, or for Eligible Digital Assets sent to an incompatible Virtual Wallet Address. Erroneously transmitted assets will be lost. We recommend users send a small amount of Digital Asset as a test prior to initiating a transfer of a significant amount of Digital Assets.
19.3 We reserve the right to limit access to your Savvix Account, which can include temporarily or permanently removing your Savvix Account access via the internet, and/or restricting your Savvix Account, and/or closing your Savvix Account without prior notice to you (unless prior notice is required by law), and we shall have no liability for such actions. In addition, Savvix reserves the right to withhold or delay the transmission of assets to you if you fail to comply with these Terms. Our total aggregate liability to you for any claim is limited to the face value of the applicable item or transaction, or the actual value of any assets not properly credited or debited by us.
20. Indemnification and Limitation of Liability
20.1 Save for the Savvix Affiliates (including the Company) and the Indemnified Persons who shall have rights to the extent accorded thereto under these Terms, a person who is not a Party shall not have any rights whatsoever under these Terms or to enforce these Terms.
20.2 You agree to indemnify and hold harmless Savvix, Savvix Affiliates, and their respective employees, managers, officers, directors, partners and shareholders from any losses, damages, suits and expenses, of whatever kind, including reasonable legal fees, that we incur in connection with or arising out of your access to or use of the Services, or our activities in connection with such Services, and for your breach of these Terms or violation of any law, regulation, order or other legal mandate, or the rights of a third party, or any act or omission by you or any person acting on your behalf while using your Savvix Account, regardless of whether the specific use was expressly authorized by you. You agree to comply with all applicable laws, regulations, or rules, and to not use your Savvix Account or the Services for any transaction or activity that is illegal or violates applicable laws, regulations or rules. Please note, your agreement to comply includes any and all applicable laws and regulations of the Republic of Indonesia, as well as of your place of residency, citizenship, business, locality and any law applicable to you.
21. FORCE MAJEURE
21.1 We may, in our reasonable opinion, determine that a Force Majeure Event exists. A “Force Majeure Event” will include, but is not limited to, the following:
(i) any act, event or occurrence (including without limitation any strike, riot or civil unrest, act of terrorism, war, industrial action, acts and regulations of any governmental or supra national bodies or authorities) that, in our opinion, prevents us from providing the Services;
(ii) the suspension or closure of any exchange or the nationalisation, government sequestration, abandonment or failure of any instrument on which we are base, or to which we in any way relate, our quote, or the imposition of limits or special or unusual terms on the trading in any such market or on any such event;
(iii) the occurrence of an excessive movement in the level of any transaction and/or exchange or our anticipation (acting reasonably) of the occurrence of such a movement;
(iv) any breakdown or failure of transmission, communication or computer facilities, interruption of power supply, or electronic or communications equipment failure; or
(v) the of any trusted partner, relevant supplier, financial institution, intermediate broker, agent or principal of ours, custodian, sub-custodian, dealer, exchange, clearing house or regulatory or self-regulatory organisation, for any reason, to perform its obligations.
21.2 If we determine that a Force Majeure Event exists, we may without notice and at any time, acting reasonably, take such steps as we deem reasonable to mitigate any adverse effects of the Force Majeure Event, but shall not be liable to you for the nature of such decisions or any related acts of omissions.
21.3 You agree that we will not be liable in any way to you or to any other person in the event of a Force Majeure Event, nor for our actions pursuant to this section if we decide to take such action. The Savvix Affiliates shall be released of all responsibilities for partial or full non-fulfilment, as well as for improper fulfilment of the obligations under these Terms if such partial or non- fulfilment or improper fulfilment was a result of a Force Majeure Event.
ANNEX 1
RISK FACTORS & DISCLAIMERS
You should carefully consider and evaluate each of the following risk factors and all other information contained in these Terms before deciding to use any of the Services. To the best of our knowledge and belief, the risk factors which are material to you in making an informed judgement to use the Services have been set out below.
RISK DISCLOSURE
Before using any of Savvix Services, you should ensure that you fully understand and can afford to undertake the risks involved. You should carefully read and make sure you understand the risk outlined, which lists some, but not all of the risks involved in holding, trading and using crypto assets generally, and using Savvix services specifically. The risks listed below intended to provide you with a general outline of the risks involved, but cannot capture all such risks.
These Terms and your use of any of our Services do not create a fiduciary relationship between us and you; your Savvix Account is not a checking or savings account, and it is not covered by insurance against losses. Savvix has no duty to inquire into, supervise, or determine the suitability of any transaction you initiate involving Eligible Digital Assets in your Savvix Account. We may lend, sell, pledge, hypothecate, assign, invest, use, commingle or otherwise dispose of assets and Eligible Digital Assets that are not held in a Token Wallet (if available to you) to counterparties or hold the Eligible Digital Assets with counterparties, and we will use our best commercial and operational efforts to prevent losses. By transferring Digital Assets to Savvix, or lending Eligible Digital Assets to Savvix while using the Earn Service, or otherwise using the Services, you will not be entitled to any profits or income Savvix may generate from any subsequent use of any Digital Assets (or otherwise), nor will you be exposed to any losses which Savvix may suffer as a result thereof. You agree and acknowledge that you are exposed to the possibility that Savvix may become unable to repay its obligations to you in part or in full, in which case any Digital Assets in your Savvix Account that are not using the Custody Service may be at risk of partial or total loss.
Eligible digital asset are note legal tender. Savvix is NOT a bank or depository institution, and your Savvix account are not held by Savvix as a fiduciary, are not insure by any private or governmental insurance plan (including the federal deposit insurance corporation (FDIC) or the securities investor protection corporation (SIPC)), and are not covered by any compensation scheme. Your Savvix account does not constitute an investment contract, is not transferrable and may not be traded, exchanged or sold to any third party under any circumstances.
Savvix does not provide any legal, tax or financial advice and you are strongly advised to obtain independent legal, tax or financial advice prior to making any financial decision, including buying, trading, holding, or using Digital Assets. There are significant risks associated with Digital Assets, and you are solely responsible to make sure you understand such risks and assess whether such risks are appropriate for you. Savvix does not make any offers, recommendations, or invitations for you to deal in Digital Assets or use any Services, and does not take into account your personal circumstances, financial situation, needs or goals. Before making any financial decision, you should carefully assess your financial situation and capacity, and only use funds that you can afford to lose. Before entering into any transaction or using any of the Services you should ensure that you understand and have made an independent assessment of the suitability and appropriateness of a transaction into which you are entering and the nature and extent of your exposure to risk of loss in light of your own objectives, financial and operational resources, and other relevant circumstances. Past performance is no guarantee of future results.
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. Transactions in Digital Assets may be irreversible, and, accordingly, losses due to fraudulent or accidental transactions may not be recoverable.
The value of Digital Assets may be derived from the continued willingness of market participants to exchange Digital Assets for Fiat currencies or other Digital Assets. If such willingness is abolished for any reason, this may result in the potential for a permanent and total loss of value of a particular Digital Asset.
The volatility and unpredictability of the price of Digital Assets may result in significant loss over a short period of time. The nature of Digital Assets may lead to an increased risk of fraud or cyber-attack, including rollback attacks or Blockchain reorganizations. The nature of Digital Assets means that any technological difficulties experienced by Savvix or third parties may limit, delay or prevent the access or use of Digital Assets and/or cause losses of Digital Assets. Although Celsius takes precautionary measures to protect against cyber threats, circumstances may arise where losses or damages are incurred.
In light of these risks, which are only some of the risks involved in using the Services and holding or trading in Digital Assets, and do not constitute an exhaustive list of such risks, you should carefully consider whether holding or trading Digital Assets in general and/or using our Services is suitable for you in light of your financial condition.
RISKS RELATING TO THE SAVVIX PLATFORM AND SERVICES
We may experience system failures, unplanned interruptions in our network or services, hardware or software defects, security breaches or other causes that could adversely affect our infrastructure network, and/or the Savvix Platform and Services.
We are unable to anticipate when there would be occurrences of Network Attacks & Vulnerabilities in the Savvix Platform, Supported Staking Network, Supported Liquidity Mining Network, Supported Staking Application, Supported Liquidity Mining Application, Accepted Digital Assets, Supported Tokens, your User Account, or any technology (including but not limited to Staking, Options and smart contract technology) on which we, the Savvix Platform, Supported Staking Network, Supported Liquidity Mining Network, Supported Staking Application, Supported Liquidity Mining Application, Supported Tokens or the User Account relies or any other network associated with the Services. Such events may include, for example, flaws in programming or source code leading to exploitation or abuse thereof. We may not be able to detect such Network Attacks & Vulnerabilities in a timely manner, and may not have sufficient resources to efficiently cope with multiple service incidents happening simultaneously or in rapid succession.
Our Services could be disrupted by numerous events, including natural disasters, equipment breakdown, network connectivity downtime, power losses, or even intentional disruptions of our Services, such as disruptions caused by software viruses or attacks by unauthorised users, some of which are beyond our control. Although we have taken steps to guard against malicious attacks on our appliances and infrastructure, which are critical for the maintenance of the Savvix Platform and the Services, there can be no assurance that Network Attacks & Vulnerabilities will not be attempted in the future, and that any of our enhanced security measures will be effective. We may be prone to attacks on our infrastructure intended to steal information about technology, financial data or user information or take other actions that would be damaging to us and Users. Any significant breach of our security measures or other disruptions resulting in a compromise of the usability, stability and security of our network or Services (including the Savvix Platform) may adversely affect the public confidence in our network or Services.
We are dependent in part on the location and data centre facilities of third parties
Our infrastructure network is in part established on servers which are owned or housed at the location facilities of third parties, and/or servers that it rents at data centre facilities of third parties. If we are unable to maintain such network on commercially reasonable terms or at all, we may be required to transfer our services to a new data centre facility, and may incur significant costs and possible service interruption in connection with the relocation. These facilities are also vulnerable to damage or interruption from, among others, natural disasters, arson, terrorist attacks, power losses, and telecommunication failures. Additionally, the third party providers of such facilities may suffer a breach of security as a result of third party action, employee error, malfeasance or otherwise, and a third party may obtain unauthorised access to the data in such servers. As techniques used to obtain unauthorised access to, or to sabotage systems change frequently and generally are not recognised until launched against a target, the Savvix Group and the providers of such facilities may be unable to anticipate these techniques or to implement adequate preventive measures.
Legality of the Services, Supported Staking Network, Supported Staking Application and/or Supported Tokens may be subject to clarification, implementation or change
The Applicable Laws in relation to the Services, Supported Staking Network, Supported Liquidity Mining Network, Supported Staking Application, Supported Liquidity Mining Application, Accepted Digital Assets and/or the Supported Tokens in various jurisdictions may be uncertain and/or subject to clarification, implementation or change. In the event of such clarification, implementation or change, the availability of the Services, Accepted Digital Assets and/or the Supported Tokens (in connection with the Services) may be adversely affected, including but not limited to the suspension or deactivation of the Services and/or the availability of the Accepted Digital Assets and/or Supported Tokens (in connection with the Services).
We may also have to take measures to comply with such regulations, or have to deal with queries, notices, requests or enforcement actions by regulatory authorities, which may come at a substantial cost and may also require substantial modifications to the Savvix Platform. This may impact the appeal of the Savvix Platform for users and result in decreased usage of the Savvix Platform.
Further, should the costs (financial or otherwise) of complying with such newly implemented regulations exceed a certain threshold, maintaining the Savvix Platform may no longer be commercially viable and we may opt to suspend or discontinue the Services. Further, it is difficult to predict how or whether governments or regulatory authorities may clarify, implement or change any Applicable Laws affecting digital ledger technology and its applications, including the Services. We may also have to cease operations in a jurisdiction that makes it illegal to operate in such jurisdiction, or make it commercially unviable or undesirable to obtain the necessary regulatory approval(s) to operate in such jurisdiction.
Certain parts of our work and processes may risk being disrupted by new technologies that may emerge
New technologies may emerge and have a disruptive effect on certain parts of our work and processes. In particular, blockchain and digital ledger technology is rapidly developing and evolving, and technological advancements may render certain or all parts of our work and processes obsolete and ineffective. This may have an adverse effect on the demand for or the availability of the Services, Supported Staking Network, Supported Liquidity Mining Network, Supported Staking Application, Supported Liquidity Mining Application, and the Supported Tokens.
The Savvix Platform, Supported Staking Network, Supported Staking Application, User Account, Accepted Digital Assets and Supported Tokens are exposed to risk of attacks
While we will make every effort to ensure that Savvix Platform is secure, there is no assurance that the Savvix Platform, Supported Staking Network, Supported Liquidity Mining Network, Supported Staking Application, Supported Liquidity Mining Application, or User Account will not be subject to Network Attacks & Vulnerabilities. Such events may occur as a result of, for example, flaws in programming or source code leading to exploitation or abuse thereof. In such event(s), the Services may be disrupted and the Accepted Digital Assets and/or Supported Tokens may even be stolen or diverted to a different address. Unless you specifically obtain private insurance to insure your Accepted Digital Assets and/or Supported Tokens, you may not have any recourse as a result of such loss of Accepted Digital Assets and/or Supported Tokens.
There may be unanticipated risks arising from the use of the Services
Staking, Options trading, Liquidity Mining and technologies involving proof-of-stake, proof-of-work and other Services related consensus protocols are novel, experimental and speculative, and therefore there is significant uncertainty regarding the application of and viability of such technology. In addition to the risks included hereto, there are other risks associated with your use of the Services, including those that we cannot anticipate. Such risks may further materialise as unanticipated variations or combinations of the risks discussed hereto.
GENERAL RISKS RELATING TO STAKING, OPTIONS AND CRYPTOGRAPHIC TOKENS
There is no assurance that an active or liquid market for Accepted Digital Assets or Supported Tokens will continue to remain or develop. As such, there is no assurance that your Accepted Digital Assets or Supported Tokens (including those attributable to Staking Rewards and proceeds from Options and/or Liquidity Mining) will have any value. The Accepted Digital Assets and Supported Tokens are not a currency issued by any central bank or national, supra-national or quasi-national organisation, nor are they backed by any hard assets or other credit. Sale and purchase of Accepted Digital Assets or Supported Tokens depends on the consensus on their value between the relevant market participants, there is no guarantee as to the liquidity or market price of Accepted Digital Assets or Supported Tokens to any extent at any time.
The trading price of Accepted Digital Assets and Supported Tokens may fluctuate
The prices of cryptographic tokens in general tend to be relatively volatile, and can fluctuate significantly over short periods of time. The demand for, and correspondingly the market price of, Accepted Digital Assets or Supported Tokens may fluctuate significantly and rapidly in response to, among others, the following factors:
- new technical innovations;
· analysts’ speculations, recommendations, perceptions or estimates of a Accepted Digital Asset or Supported Token’s market price;
· changes in market valuations and token prices of entities with operations similar to that of a particular Accepted Digital Asset or Supported Token;
· announcements of significant events, for example partnerships, sponsorships, new product developments;
· fluctuations in market prices and trading volume of Accepted Digital Assets or Supported Tokens on cryptocurrency exchanges;
· the availability of Accepted Digital Assets or Supported Tokens on other cryptocurrency exchanges; and
· changes in conditions affecting the blockchain or financial technology industry, the general economic conditions or market sentiments, or other events or factors.
Understanding cryptographic token technology requires technical knowledge
Cryptographic tokens are based on complex often described in exceedingly technical language that may require a comprehensive understanding of applied cryptography and computer science in order to appreciate the inherent risks. The availability of Supported Tokens on the Savvix Platform do not indicate approval or disapproval of the underlying technology regarding any Supported Staking Network, Supported Liquidity Mining Network, Supported Token or Accepted Digital Asset, and should not be used as a substitute for your own understanding of the risks specific to each Supported Staking Network, Supported Liquidity Mining Network, Supported Token or Accepted Digital Asset. We give you no undertaking or warranty as to the suitability of the Supported Staking Network, Supported Liquidity Mining Network, Supported Staking Application, Supported Liquidity Mining Application or Supported Tokens for Staking or under these Terms and assume no duty in our relations with you. By using the Services, you acknowledge and agree that you have a basic degree of understanding of the operation, functionality, usage, storage, transmission mechanisms, and other material characteristics of digital ledger and blockchain assets, cryptographic tokens including the Accepted Digital Assets, Supported Tokens, digital ledger and blockchain-based software systems, cryptographic token wallets or other related token storage mechanisms, digital ledger and blockchain technology, proof-of-stake mechanisms, Staking, Options and smart contract technologies.
None of the information available on the Sites or made available to you in relation to the use of Services constitutes advice
None of the information available on the Sites or made available to you in relation to the use of Services constitutes any advice, including but not limited to legal, tax, financial or trading advice. If you are in any doubt as to the action you should take, you should consult your legal, financial, tax or other professional advisors.
Digital Asset transfers may not be reversible
Transactions which have been signed by the transferor and verified on a digital ledger or blockchain network are generally immutable and effectively irreversible. In the event that you send Digital Assets to any other destination other than our Company Designated Account/Wallet, such Digital Assets may not be returned. None of the Savvix Affiliates (including the Company) assumes any responsibility or makes any warranties or undertakings and shall have no obligation to you if any of the foregoing events occur, including but not limited to any responsibility to recover, or aid / assist in the recovery, of such Digital Assets.
ANNEX 2
USER AUTHORISATION FOR THE COLLECTION, USE, DISCLOSURE
AND PROCESSING OF PERSONAL DATA
PLEASE DO NOT PROVIDE YOUR PERSONAL DATA TO US IF YOU DO NOT AGREE WITH THE TERMS IN THIS ANNEX.
By providing us with your personal data and/or accessing or using our Sites and/or Services, you agree and consent to our collection, use, disclosure and processing of your personal data in accordance with the terms set out below:
1. Our Sites may contain links to other websites that are not owned or maintained by us. These terms relating to the collection, use, disclosure and processing of your personal data only applies to our Sites. When visiting any third party websites, you should read their privacy policies.
2. We may amend the terms herein from time to time without notice to you.
3. You acknowledge and agree that we may collect, use, disclose and process relevant personal data on you, including but not limited to your name, identification number, identification photos, facial images and videos for purposes connected or relevant to our business, to manage your relationship with us. Such purposes would include:
- managing your relationship with us;
- processing your transactions with us, or to provide products and/or services to you;
- facilitating your use of our Sites and/or Services, and operating, managing, maintaining and improving our Sites and/or Services;
- administrative purposes, including finance, IT and HR purposes, quality assurance and staff training;
- compliance with laws and regulations, internal policies and procedures, including audit, accounting, risk management and record keeping;
- complying with international sanctions and applicable regulation for securities and to counter money-laundering or financing of terrorism;
- carrying out research and statistical analysis, including development of new products and services or evaluation and improvement of our existing products and services;
- resolving any disputes, investigating any complaint, claim or dispute or any actual or suspected illegal or unlawful conduct;
- assisting you with your enquiries, and to respond to feedback, complaints, disputes and requests;
- enforcing legal obligations owed to us, or responding to complaints, litigation or investigations concerning us;
- facilitating business asset transactions,
- such purposes that may be informed to you when your personal data is collected; and/or
- any other reasonable purposes related to the aforesaid.
4. You acknowledge and agree that we may collect, use, disclose and process relevant personal data on you for other purposes, without your knowledge or consent, where this is required or permitted by law.
5. You acknowledge and agree that we may disclose to or share your personal data with our Affiliates and/or third parties, including service providers and data processors working on our behalf and/or providing services to us, and our consultants and professional advisors for any of the purposes described above at point (3). Our Affiliates and/or third parties to whom we have disclosed or shared your personal data may in turn disclose your personal data to their third party service providers to the extent required for any of the purposes described above at point (3).
6. You fully understand and unambiguously consent that we may transfer your personal data to any country (including to third parties where necessary) for the purposes set out herein or as notified to you.
7. You acknowledge and agree that we (and our Affiliates and/or third parties to whom we have disclosed or shared your personal data) may keep your personal data for so long as they are required to fulfil the purposes they are collected for, and to satisfy our business and/or legal purposes, including audit, accounting or reporting requirements.