CoinEx Pre-Token Trading Product Terms and Conditioins

Customer Specialist Team
Updated

By using CoinEx Pre-Token Trading Product, you acknowledge that you have read, understood and accepted all of the terms and conditions in this CoinEx Pre-Token Trading Terms & Conditions (this “T&C”) and the Documents (as defined below), and you acknowledge and agree that you will be bound by and will comply with the terms contained in this T&C and in the Documents. If you do not accept this T&C or the Documents in its entirety, you should immediately stop using any service provided by CoinEx, including CoinEx Pre-Token Trading Products.

The terms and conditions in this T&C are supplementary to CoinEx Term of User Agreement, Privacy Policy, Disclaimer, each of the Products particulars, FAQ, terms, and/or any Agreements, terms, policy or related trading services as may be published by CoinEx from time to time (collectively, the “Documents”). 

For the avoidance of doubt, the T&C and the Documents may be revised and amended from time to time at the discretion of CoinEx.  By using any services provided by CoinEx, you agree to accept all of the terms in all updated versions of this T&C and the Documents. You are strongly advised to read all the terms in this T&C and in the Documents prior to use any services of CoinEx.  

 

1. Pre-Token Trading Product

1.1 CoinEx’s Pre-Token Trading Product allows users to issue a contract in relation to the buying and selling of tokens which are not yet available for secondary market trading (the “Pre-Token Contract”). 

1.2 A user may choose to issue a Pre-Token Contract and act as a maker of an order.  The counterparty of the Pre-Token Contract shall act as the taker of such order.  

1.3 If a user issues a Pre-Token Contract, such user is required to deposit a collateral (the “Collateral”) equivalent to the total amount of the asset associated with the Pre-Token contract.  Upon the Pre-Token Contract is issued and placed, the Collateral shall be withheld and will not be available for any forms of use including withdrawal or trading.

1.4 A fee will be paid to CoinEx for the usage of the Pre-Token Trading Product(“Fee”).  The Fee will be charged a certain percentage as service fees. 

1.5 A user who issued the Pre-Token Contract may cancel any non-executed order any time prior to execution. In such an event the Collateral will be refunded to the user subject to any fee collected by CoinEx at its discretion.

1.6 Upon an Order being executed, the Pre-Token Contract issuer and the purchase shall be given a period of time to settle the underlying assets, if applicable (the “Settlement Period”).  During the Settlement Period, the Pre-Token Contract is not allowed to be traded, canceled or redeemed.  Failure to settle the underlying assets on the part of the issuer within the Settlement Period shall constitute a default, and in such event all Collateral shall be forfeited in full.  Such Collateral, after deduction of Fee to CoinEx, shall be allocated to the purchaser as compensation. 

1.7 The Pre-Token Contract shall expire when the underlying token is being listed or the incident of the prediction has occurred. Upon the expiration, CoinEx shall redeem the Pre-Token Contract at a reasonable price and settle with the Collateral against the holder of such Pre-Token Contract.  

1.8 For the avoidance of doubt, CoinEx shall have the absolute right and discretion to cancel any Pre-Token Contract, or to cancel any executed order, without prior notification to any user.

 

2. User’s Obligations

2.1 By using CoinEx Pre-Token Trading Product, users hereby agree and acknowledge that:

  • CoinEx has the absolute discretion and authority to calculate or to set the calculation mechanism to the Collateral, the Fee and the price of redemption under Clause 1.8 above.
  • CoinEx has no obligation and responsibility to disclose its formula or calculation mechanism as to how to calculate the Collateral, the Fee and the price of redemption under Clause 1.8 above.
  • Users are exposed to various risks by using Pre-Token Trading Product, including those risks as set out under Clause 3 below as well as any loss arising from the value of underlying assets. In all circumstances CoinEx shall not be liable to a user for any loss or damages arising from such risks. 
  • In the event of any unclaimed fund, whether or not from the Collateral, Purchase Price or any underlying asset of a Pre-Token Contract, CoinEx shall have the absolute right to forfeit such funds if the funds are unclaimed for over 90 days. 
  • User who participated in CoinEx Pre-Token Trading Product are solely responsible for such participation, as well as all things and actions related to the Pre-Token Trading Product.
  • No advice was given by CoinEx in relation to any users who participate in the Pre-Token Trading Product, and CoinEx has not been providing users with any investment advice or service in any manner. All users are exercising their own judgment for any investment decision.
  • User shall at all times comply with all applicable laws and regulations in all jurisdictions relevant to any service provided or made available to user by CoinEx.
  • User shall have the right to seek advice and consultation form independent investment adviser, tax adviser and legal adviser prior to participation in the Pre-Token Trading Product.

2.2 By using CoinEx Pre-Token Trading Product, users hereby agree NOT to:

  • Use the Pre-Token Trading Product in any manner that could interfere with, disrupt, negatively affect or inhibit other users from fully enjoying the Services offered by CoinEx, or that could damage, disable, overburden or impair the functioning of any Services of CoinEx or bring disrepute to CoinEx in any manner.
  • Use the Pre-Token Trading Product in any illegal activities, including violation of any money laundering rules and regulations or counter terrorist financing.
  • Use any robot, spider, crawler, scraper or other automated means or interface not provided by us to access the Pre-Token Trading Product or to extract data from CoinEx.
  • Develop any third-party applications that interact with the Pre-Token Trading Product without CoinEx prior written consent.
  • Access to the Pre-Token Trading Product without proper authorization.

 

3. Risks & Liabilities

3.1 When using CoinEx Pre-Token Trading Product, user must be fully aware of the risks associated with digital asset investments and proceed with caution. User shall agree that all investments on CoinEx reflect the user’s true investment intent, and user unconditionally accept the potential risks and gains of the investment decisions. 

3.2 User acknowledges that trading in the CoinEx Pre-Token Trading Product is a highly speculative activity, involving highly leveraged and rapidly fluctuating markets with insufficient liquidity. The user further acknowledges and accepts the potential for significant or complete loss of assets and agrees to assume all financial risks and any other harm arising from such trading. The user agrees that, under no circumstances, shall CoinEx be held responsible for any losses incurred in connection with the Pre-Token Trading Product or these Terms and Conditions.

3.3 In addition to the risks as identified in herein, you may also expose to the following risks and liabilities for using the CoinEx Pre-Token Trading Products together with the risks associated with the underlying assets of such product:

  • the underlying asset may be lost because, among other things: (a) the smart contract of the relevant blockchain network and protocol may be exploited, hacked, poor economic models suffered from any type of cyber security risk; (b) the relevant blockchain network and protocol may suspend, discontinue, and terminate its business, closes down, suspends, or stops operating; (c) the price fluctuation of the tokens of the relevant blockchain network and protocol may be extremely volatile and the estimated rewards shall be substantially affected by such price volitation. 
  • The assets you provided as Collateral or Purchase Price may be directly put into the relevant blockchain network and protocol which CoinEx could not guarantee the safe deposit.
  • There are inherent risks of the relevant blockchain network and protocol, including, but not limited to, the rules of the smart contract, the protocol, and the underlying assets.
  • In no event CoinEx, or any affiliated of CoinEx or CoinEx Pre-Token Trading operator is responsible or liable to you or any other person or entity for any direct or indirect losses (including loss of profits, business or opportunities), damages, or costs arising out of or in connection with any risk identified above.  This limitation of liability is in addition to the limitation of liability contained in the Documents. 

3.4 Market Risks – User acknowledges that the Pre-Token Trading Products together with the underlying assets carry inherent market risks, including but not limited to price volatility. Such volatility can arise from market demand fluctuations, technological advancements, changes in market sentiment and macroeconomic factors.

3.5 Regulatory Risks - The regulatory environment governing the Pre-Token Trading Products together with the underlying assets are subject to ongoing evaluation and changes. Such changes may materially impact the value, legality and transferability of the Pre-Token Contract and/or its underlying assets. 

3.6 Liquidity Risks – The Pre-Token Contract and its underlying assets may have limited liquidity which can lead to substantial slippage in prices or the inability to buy or sell the desired amount of assets at the desired price. 

3.7 Counterparty Risk – In a Pre-Token Contract transaction, there is a risk that the counterparty may default on their obligations to settle. 

3.8 Other Risks – There are other risks inherent in the use of Pre-Token Trading Product and blockchain technology.



4. CoinEx’s Rights and Power

4.1 CoinEx reserves the right to temporarily pause or terminate the Pre-Token Trading Product, and may suspend or end the service in its entirety as necessary without reason or notice.

4.2 CoinEx may stop, suspend or cancel your access to all CoinEx services or CoinEx’s platform, impose limits to your CoinEx accounts, suspend or cancel your ability to participate in CoinEx Pre-Token Trading Product, or delay certain transactions in the following circumstances:

  • You do not provide additional information to verify your identity or source of funds as requested by CoinEx.
  • You do not comply with the laws of your country or that your asset sources are questionable to meet CoinEx’s legal and compliance standards.
  • CoinEx is required to do so by court order, to comply with any Applicable Laws (including anti-money laundering or sanctions laws).
  • CoinEx is required to do so to comply with any direction or instruction from a government body or agency.
  • CoinEx reasonably determines that any information you have provided to us is wrong, untruthful, outdated or incomplete.
  • you do not provide additional information that we request to our reasonable satisfaction or in a timely manner.
  • CoinEx has reasons to believe that you may violate any laws, rules and regulations in any Applicable Laws.
  • Your account or any transaction associated with your account is being investigated by any regulator or law enforcement agencies.

4.3 CoinEx may unwind or reverse any Orders and/or Executed Orders, freeze any or all amounts allocated to a user Account, and/or deduct any amounts allocated to a user Account, or to revise any required Collateral or Purchased Price or any reasonable redeem price;

4.4 CoinEx may liquidate, accelerate, and/or close out any outstanding Orders (including any Orders and/or Executed Order which has yet to be settled on the date on which CoinEx terminates such Order and/or Executed Order) by determining its value in good faith and in its absolute discretion as of the date of such liquidation, acceleration or close-out as soon as practicable thereafter.

4.5 CoinEx may demand user for any shortfall a user holds in excess gain from a transaction arising from Pre-Token Contract transactions.

4.6 CoinEx’s product may encounter delays, suspensions, terminations, or deviations due to network latency, computer system failures, or other possible force majeure. While CoinEx will strive to maintain stable and effective service operations, no guarantees are made, CoinEx will not be held responsible for any unintended consequences resulting from the above.

4.7 CoinEx reserves the right to modify this Agreement from time to time and will disclose such modifications through website announcements.  No additional notice will be provided. If you continue to use the CoinEx Pre-Token Trading Product, you will be deemed to have accepted and agreed to the modified terms.

 

5. Limitation and Disclaimer

5.1 YOU EXPRESSLY AGREE THAT YOUR USE OR NON-USE OF THE Pre-Token TRADING PRODUCT ARE AT YOUR OWN RISK. ALL PRODUCTS AND SERVICES PROVIDED TO YOU BY COINEX ARE STRICTLY OFFERED ON AN “AS IS” BASIS AND COINEX MAKE NO REPRESENTATIONS, WARRANTIES OR GUARANTEES TO YOU OF ANY KIND, WHETHER EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO MERCHANTABILITY, QUALITY, OR FITNESS FOR A PARTICULAR PURPOSE OR ERROR FREE.

5.2 You hereby agree that the aggregate liability of CoinEx under this T&C shall not exceed the Fee received by CoinEx under this T&C.

5.3 In no circumstances CoinEx shall be liable to a user in the following situations:

  • Service suspension for maintenance
  • Hacker attack(s) or exploitation
  • System failure
  • Force Majeure events
  • Service interruption or delay arising from hacking, computer virus, system failure, or other unforeseeable events
  • Losses arising from technical problems which is unforeseeable
  • Any losses not attributable to CoinEx or due to unforeseeable events

 

6. General Terms

6.1 All terms and references used in this T&C shall have the same meaning and construction in the Documents, unless otherwise defined in this T&C.

6.2 This T&C are to be read together with the Documents. In the event of any conflict or inconsistency between this T&C and the Documents, the order of precedence in which the documents are to be read is first this T&C, and then the Documents.

6.3 In the event of any conflict or inconsistency between this T&C and the particulars of each of the Pre-Token Trading Products description, the particulars of each of the Pre-Token Trading Products description shall prevail.

6.4 This T&C may be available in various language versions. In case of any inconsistency, the English version shall prevail.

Disclaimer: The content provided on this website is for informational purposes only and does not constitute investment advice. The information provided is not intended to be a substitute for professional financial advice, consultation, or recommendations. Users are encouraged to consult with a qualified financial advisor before making any investment decisions. The website owners and authors do not assume any liability for any loss or damage that may result from reliance on the information provided. All investments carry risk, and past performance is not indicative of future results.