Terms and Conditions

1. GENERAL

These terms and conditions ("Terms") govern your use of the website (https://www.kassiopea.xyz) (the "Website") and all associated subdomains and mobile applications, along with the services provided therein (the "Services"). These Terms also include any guidelines, announcements, additional terms, policies, and disclaimers made available or issued by us from time to time. By accessing or using the Website or Services, you agree to these Terms, creating a binding legal agreement between you and Kass Labs LLC (the "Company", "we", "us").

Please be aware that the Protocol (as defined below) is highly experimental and primarily intended for testing purposes. It is not recommended for the deployment of significant amounts of digital assets. We provide no warranties, express or implied, regarding the suitability or usability of the Protocol, the Services, the Website, its software, or its content. We will not be liable for any loss, whether direct, indirect, special, or consequential, suffered by you or any party as a result of using the Protocol, the Services, the Website, or its content and functionalities.

By accessing, using, or attempting to use the Website or the Protocol, you confirm that you have read, understood, and agree to be bound by these Terms. Your use of specific features of the Services may also be subject to additional terms and conditions applicable to those features.

The information provided on this Website is current as of the date of publication. We may modify, suspend, or discontinue the Website or the Services at any time without prior notice. Any changes to these Terms will be effective immediately upon publication on our Website or communication to you. Continued use of the Services signifies your acceptance of the modified Terms. If you do not agree to any changes, please refrain from using the Website or the Services. Our privacy policy, platform rules, guidelines, and any other agreements between you and us are considered supplementary terms and are integral to these Terms.

We reserve the right to update these Terms at our discretion. We will notify you of changes by updating the "Last Updated" date on these Terms. It is your responsibility to review these Terms periodically to stay informed of updates. Your continued use of the Website or Services following the posting of revised Terms signifies your acceptance of those changes.

Access to the Website and the Services is restricted in certain jurisdictions, including but not limited to Afghanistan, American Samoa, Angola, Armenia, Azerbaijan, Belarus, Bosnia and Herzegovina, Botswana, Burundi, Cambodia, Cameroon, Canada, Central African Republic, Chad, China, Crimea region of Ukraine, Cuba, Democratic People's Republic of Korea, Democratic Republic of the Congo, Eritrea, Ethiopia, Ghana, Guam, Guinea, Guinea-Bissau, Haiti, Iran, Iraq, Japan, Laos, Lebanon, Liberia, Libya, Madagascar, Mali, Mozambique, Myanmar, Nicaragua, Northern Mariana Islands, Pakistan, Puerto Rico, Republic of the Congo, Russia, Somalia, South Sudan, Sri Lanka, Sudan, Syrian Arab Republic, Tajikistan, Trinidad and Tobago, Turkmenistan, Uganda, United States, Uzbekistan, Vanuatu, Venezuela, Virgin Islands (U.S.), Yemen, and Zimbabwe. We may also restrict or refuse access to the Website and Services in other countries or regions at our sole discretion.

By using the Website or Services, you acknowledge and understand that laws regarding digital assets, derivatives, financial instruments, or investment products may vary by jurisdiction. It is your sole responsibility to ensure compliance with any applicable laws, regulations, or directives in your jurisdiction. Access to the Website or Services does not imply legality under the laws of your jurisdiction.

2. THE PROTOCOL

The "Kassiopea.xyz" protocol (the Protocol) is a decentralized non-custodial derivatives trading platform comprising smart contracts deployed on relevant blockchain networks. These smart contracts operate in a decentralized and autonomous manner, enabling users to perform leveraged derivatives trades directly on a peer-to-peer basis. The list of supported currencies, assets, trading pairs, and rules for the functioning and settlement of derivatives will evolve as the Protocol undergoes development and improvement. Users can interact with these smart contracts via a user interface on the Website, which allows them to view their positions, trade leveraged derivatives, review historical transactions, and deposit to or withdraw from the smart contracts. These smart contracts can be reviewed, verified, used, copied, modified, and distributed by anyone (subject to applicable licenses). Other interfaces enabling interaction with the Protocol that we do not control or are not affiliated with may exist. Anyone can interact directly with the Protocol, bypassing provided interfaces. You should thoroughly review and assess the Protocol and related software before use, as usage is at your own risk. Always conduct your own research.

The Protocol will be available on the Aptos blockchain network and possibly additional blockchain networks. The list of supported networks may change over time. We do not control or operate the Protocol. Information and materials about the Protocol available on the Website are for informational purposes only, are not binding, and do not form part of these Terms. All interactions between users, traders, and market makers on the Protocol operate in a peer-to-peer manner on the relevant blockchain network. When users "deposit" digital assets, this transaction represents placing certain digital assets into the smart contracts with a legal guarantee from the user that these will be used to settle any profits/losses accrued in respect of the user's trades in leveraged derivatives with other users of the Protocol. Users enter into a direct contractual relationship via the autonomous smart contracts, assuming all responsibility towards the counterparty to the trade.

You further acknowledge that we do not control the Protocol, its underlying blockchain networks, or any software through which such networks are formed. The Company only provides the Website as an interface to access the Protocol. We have no control over these payments or transactions and cannot reverse any transactions. We will not be liable to you or any third party for any claims or damages resulting from transactions you engage in via the Website or other blockchain networks. Consequently, the Company shall not be held responsible for any peer-to-peer direct contractual relationship or liable in connection with the Protocol, underlying blockchain networks, or software, their operation, functioning, implementation, or use, and you hereby assume all related risks, including potential losses and damages.

3. NON-CUSTODIAL NATURE OF PROTOCOL

The Company never receives access to, operates, maintains, has custody or control over your digital wallet or digital assets held in such digital wallet and has no ability to retrieve or transfer its content. Therefore, you are solely responsible for securing your digital wallet and credentials (including private key, seed phrase, password, etc.). If you lose access to your electronic wallet, private key(s), password(s), or other method(s) of securing your wallet, all digital assets held in such wallet may be irretrievable, and the Company will be unable to assist you.

The Company will not create any hosted wallet for you or otherwise custody digital assets on your behalf, and it is your sole responsibility to maintain the security of your selected electronic wallet. You may disconnect your digital wallet from the Website at any time.

You hereby irrevocably waive, release, and discharge all claims, whether known or unknown, against the Company, its affiliates, and their respective shareholders, members, directors, officers, employees, agents, and representatives related to your use of any wallet software, associated loss of digital assets, transaction failures, or any other defects that arise in the course of your use of your electronic wallet, including any losses resulting from any failure of the Website or the Services.

4. NOT AN INTERMEDIARY; NO CONTROL

You understand that the Website is independent of the Protocol and provides a web-based means for users to interact with the smart contracts underlying the Protocol. Accordingly, our responsibilities are limited to the user functionality and availability of the Website.

We are not a counterparty, intermediary, or broker of digital assets and are not a party to any peer-to-peer agreement for leveraged derivatives entered into between users. We have no control over the Protocol, the conduct of any users of the Protocol, or the trades performed by any users. We accept no liability for any aspect of users' interactions on the Website or the Services.

5. ELIGIBILITY

By accessing, using, or clicking on our Website and using or attempting to use the Services, you represent and warrant that:

(a) As an individual, legal person, or other organization, you have full legal capacity and authority to agree and bind yourself to these Terms;

(b) You are at least 18 years old or of legal age to form a binding contract under applicable laws;

(c) Your use of the Services is not prohibited by applicable law and at all times complies with applicable law, including but not limited to regulations on anti-money laundering ("AML"), anti-corruption, and counter-terrorist financing ("CTF");

(d) You are not a citizen, resident, or domiciliary in a Restricted Country, nor are you using the Services on behalf of any person or entity from a Restricted Country;

(e) You have not been included in any trade embargoes or economic sanctions list, the list of specially designated nationals maintained by OFAC, or the denied persons or entity list of the U.S. Department of Commerce, nor have you been a subject or target of any other economic sanctions administered or enforced by the United Nations, the European Union, or the United Kingdom;

(f) You have not been previously suspended or removed from using the Services;

(g) If you act as an employee or agent of a legal entity and enter into these Terms on their behalf, you represent and warrant that you have all the necessary rights and authorizations to bind such legal entity; and

(h) You are solely responsible for using the Services and, if applicable, for all activities that occur on or through your user account.

6. IDENTITY VERIFICATION

We and our affiliates may, but are not obligated to, collect and verify information about you to keep appropriate records of our users, protect us and the community from fraudulent users, and identify traces of money laundering, terrorist financing, fraud, and other financial crimes, or for other lawful purposes.

We may require you to provide or verify additional information before permitting you to access, use or click on our Website and/or use or attempt to use our Services. We may also suspend, restrict, or terminate your access to our Website or any or all of the Services in the following circumstances:

(a) If we reasonably suspect you of using our Website and Services in connection with any prohibited use or business;

(b) Your use of our Website or Services is subject to any pending litigation, investigation, or government proceeding and/or we perceive a heightened risk of legal or regulatory non-compliance associated with your activity; or

(c) You take any action that we deem as circumventing our controls, including, but not limited to, abusing promotions which we may offer from time to time.

In addition to providing any required information, you agree to allow us to keep a record of that information during the period for which your account is active and within five (5) years after your account is closed. You also authorize us to share your submitted information and documentation with third parties to verify the authenticity of such information. We may also conduct necessary investigations directly or through a third party to verify your identity or protect you and/or us from financial crimes, such as fraud, and take necessary action based on the results of such investigations. We will collect, use and share such information in accordance with our privacy policy.

If you provide any information to us, you must ensure that such information is true, complete, and updated promptly when it changes. If there are any grounds for believing that any of the information you provided is incorrect, false, outdated, or incomplete, we reserve the right to send you a notice to demand correction, directly delete the relevant information, and, if applicable, terminate all or part of the Services we provide to you. You shall be fully liable for any loss or expense caused to us during your use of the Services. You hereby acknowledge and agree that you have the obligation to keep all the information accurate, updated, and correct at all times.

Where there is any violation of AML or CTF laws and regulations, we reserve the right to cooperate with the competent authorities when necessary, including sharing with such authorities any information provided by you.

7. RESTRICTIONS

You shall not access, use, or click on our Website and/or use or attempt to use the Services in any manner except as expressly permitted in these Terms. Without limiting the generality of the preceding sentence, you may NOT:

(a) Use our Website or use the Services in any dishonest or unlawful manner, for fraudulent or malicious activities, or in any manner inconsistent with these Terms;

(b) Violate applicable laws or regulations in any manner;

(c) Infringe any proprietary rights, including but not limited to copyrights, patents, trademarks, or trade secrets of the Company;

(d) Use our Website or use the Services to transmit any data or send or upload any material that contains viruses, Trojan horses, worms, time-bombs, keystroke loggers, spyware, adware, or any other harmful programs or computer code designed to adversely affect the operation of any computer software or hardware;

(e) Use any deep linking, web crawlers, bots, spiders, or other automatic devices, programs, scripts, algorithms, or methods, or any similar or equivalent manual processes to access, obtain, copy, monitor, replicate or bypass the Website or the Services;

(f) Make any back-up or archival copies of the Website or any part thereof, including disassembling or de-compilation of the Website;

(g) Violate public interests, public morals, or the legitimate interests of others, including any actions that would interfere with, disrupt, negatively affect, or prohibit other Users from using our Website and the Services;

(h) Use the Services for market manipulation (such as pump and dump schemes, wash trading, self-trading, front-running, quote stuffing, and spoofing or layering, regardless of whether prohibited by law);

(i) Attempt to access any part or function of the Website without authorization, or connect to the Website or Services or any Company servers or any other systems or networks of any services provided through the services by hacking, password mining, or any other unlawful or prohibited means;

(j) Probe, scan, or test the vulnerabilities of the Website or Services or any network connected to the properties, or violate any security or authentication measures on the Website or Services or any network connected thereto;

(k) Exploit the Website, the Services, or the underlying smart contracts (including without limitation any technical or economic exploit) for any unauthorized commercial purpose;

(l) Reverse look-up, track, or seek to track any information of any other Users or visitors of the Website or Services;

(m) Take any actions that impose an unreasonable or disproportionately large load on the infrastructure of systems or networks of the Website or Services, or the infrastructure of any systems or networks connected to the Website or Services;

(n) Use any devices, software, or routine programs to interfere with the normal operation of any transactions of the Website or Services, or any other person's use of the Website or Services; or

(o) Forge headers, impersonate, or otherwise manipulate identification to disguise your identity or the origin of any messages or transmissions you send to the Company or the Website.

By accessing the Services, you agree that we have the right to investigate any violation of these Terms, unilaterally determine whether you have violated these Terms, and take actions under relevant regulations without your consent or prior notice.

8. FEE AND PAYMENT

We may implement at our sole discretion, additional means of payments (including but not limited to fiat or cryptocurrency payments) provided by independent third-party service providers that we have partnered with. You acknowledge and understand that we have no insight into or direct control over the services provided by such third-party service providers and we shall have no liability to you or any third party for any claims or damages that may arise from your use of such services. The use of any third-party payment services available on our Website will likely have its own set of rules and guidelines for usage. We do not endorse, and we shall not be responsible or liable for, any content, advertising, products, payment mechanisms, and processes or materials on or available from your use of such services.

Aptos and other blockchain networks require the payment of a transaction fee (a "Gas Fee") for every transaction that occurs on the Aptos network or other blockchain networks. The Gas Fee funds the network of computers that run the decentralized Aptos network or other blockchain networks. This means you will need to pay a Gas Fee for each blockchain transaction that occurs via the Website