Terms of Service

These Terms of Service (“Terms”) govern your access to and use of the Prophex website, applications, smart contracts, and related services (collectively, the “Services”). By accessing or using the Services, you agree to these Terms and to any policies referenced here.

You must be at least the age of majority in your jurisdiction and have the legal capacity to enter into these Terms. You represent that you will use the Services for yourself and not on behalf of any person or entity without authority.

The Services are not available in certain locations, including the United States and any comprehensively sanctioned regions (for example, Cuba, Iran, North Korea, Syria, and the Crimea/Donetsk/Luhansk regions). You represent and warrant that you are not located in a restricted location and are not a sanctioned person. We may apply geo-controls and other measures and may block or terminate access where we reasonably believe you are in a restricted location.

We may require identity verification, sanctions screening, source-of-funds information, or other compliance checks at onboarding or at any time. Failure or refusal to provide requested information, or a screening failure, may result in denial or termination of access.

All markets on the platform are governed by our Market Rules & Settlement Policy, which forms part of these Terms. It sets out market creation, suspension and early close, settlement sources, void/cancel criteria, oracle changes, and appeal windows. If there is any inconsistency between these Terms and the Market Rules & Settlement Policy on matters of settlement, the Market Rules & Settlement Policy controls.

Perpetual markets follow the posted Perpetuals Parameters, including maximum leverage, initial and maintenance margin requirements, funding calculation and intervals, liquidation engine behaviour, auto-deleverage (if applicable), and the order of loss absorption (liquidation penalties → insurance fund → ADL if required). Parameters may be updated to preserve market integrity and will be posted on the Perpetuals Parameters page.

Fees (including trading, funding, and withdrawal fees), rounding rules, tick sizes, and payout timelines are as set out on our Fees page and may change by notice via posting. Payouts occur on-chain; you are responsible for network fees.

Participation in our programme is governed by the Affiliate Terms, including disclosure requirements, prohibited claims, anti-spam rules, fraud review and clawbacks, payment cadence, and tax obligations. We may suspend or terminate participation at our discretion.

You must not engage in or attempt: multi-accounting to evade limits; wash trading, spoofing, layering, or other types of market manipulation; influencing or corrupting oracles or settlement sources; interfering with the platform or smart contracts; abusive scraping that degrades the Services; or any illegal activity. We may investigate, suspend, or terminate accounts and void or cancel trades reasonably believed to violate this section.

Where Prophex or an affiliate provides liquidity or otherwise participates in markets, we will implement controls designed to manage conflicts of interest. We may disclose such participation on relevant pages.

Market data, content, and any APIs are provided “as is” for personal use. Redistribution, resale, or scraping beyond fair use or published rate limits requires our prior written consent. We may modify or discontinue APIs at any time.

The Services provide information and market infrastructure only. Nothing is investment, legal, tax, or other advice. You are solely responsible for your decisions and for complying with applicable laws.

To the fullest extent permitted by law, the Services are provided “as is” and “as available,” without warranties of any kind, whether express, implied, or statutory, including merchantability, fitness for a particular purpose, title, and non-infringement. We do not warrant continuous, error-free, or secure access, or that markets will not be suspended, voided, or delayed.

To the fullest extent permitted by law, neither Prophex nor its affiliates will be liable for any indirect, incidental, special, consequential, exemplary, or punitive damages, or for lost profits, revenues, or data, arising out of or related to the Services or these Terms.

You will indemnify and hold harmless Prophex, its contributors, and affiliates from and against any claims, liabilities, damages, losses, and expenses (including reasonable legal fees) arising out of or related to your use of the Services, your breach of these Terms, or your violation of law.

We are not liable for delays or failures caused by events beyond our reasonable control, including network outages, chain congestion or forks, denial-of-service attacks, acts of government, changes in law, labour disputes, or natural events.

We may update these Terms by posting the revised version with a new “Last Updated” date. Continued use after posting constitutes acceptance. We may suspend or terminate the Services or your access where reasonably necessary to protect users, comply with law, or maintain market integrity.

These Terms and any non-contractual obligations arising out of or in connection with them are governed by the laws of Saint Vincent and the Grenadines. The courts of Saint Vincent and the Grenadines have exclusive jurisdiction. Class or representative actions are not permitted. Either party may seek interim injunctive relief in court.

Legal notices to Prophex Ltd must be sent to our registered address as published on the Site, with a copy to legal@prophex.io. Notices are effective upon receipt at the registered address.

These Terms, together with the policies referenced in them, constitute the entire agreement between you and Prophex regarding the Services. If any provision is held invalid, the remaining provisions remain in full force. Sections relating to fees, market rules, data/API, disclaimers, limitation of liability, indemnity, governing law and disputes, and any provisions which by their nature should survive, will survive termination.