Effective Date: 01 JUN 2025
This is an agreement between you or the entity that you represent (hereinafter “You” or “Your”) and L1CT Solutions Pvt Ltd and its affiliates (“Company”) or (“L1CT Solutions Private Limited” or “our”) governing your use of our Services (defined below) and this website or mobile application if you are based in India. If you are not based in India, our Global Terms of Service (as mentioned in this agreement) shall apply and be deemed to be accepted by You.
By using Our website or application, you hereby irrevocably represent that you are an Indian resident, major and you have given your consent to allow any of your minor dependents to use this website or application. You further accept the terms of these Terms of Service (“User Terms”) or (“Agreement”) and our
If you do not agree to the terms of the privacy policy or User Terms, kindly refrain to use Our Service(s), website and mobile application. The Company reserves a right to amend the User Terms and publish the same to our platform. Your continued use of our website and mobile application shall mean you accept the amended terms.
1. GENERAL
1.1 By using Services shall mean that You agree to all the terms set out in this Agreement and our other policies, including privacy policy, cookie policy, API Agreement, law enforcement policy, and training principles (collectively, “Supplemental Agreements”) as may be accessible on our website or mobile application.
1.2 The capitalized terms used in this Agreement are defined either in the provision they are used or in Section 18 at the end of this Agreement.
1.3 The Agreement applies to all Services of the Company, such as the website, wallet, swap, and APIs, except for margin which is governed by its margin Agreement available at Privacy Policy
1.4 By using or accessing the Services or website or mobile application, You affirm having proper authority and capacity to enter in a contract as per applicable laws.
1.6 In the event of any conflict between this Agreement or Supplemental Agreements, the terms of this Agreement shall prevail.
2 ACCESSING THE SERVICES
2.1 You're granted a revocable, limited, nonexclusive, non-transferable license to access and use the Services, subject to Your compliance with this Agreement.
2.2 We may give you credentials to access Services, but you're responsible for keeping such credentials secure. L1CT Solutions Private Limited. is not liable for any unauthorized access to Services or resulting harm.
2.3 You agree to comply with all applicable laws while using our Services.
2.4 To use certain Services, You agree to cooperate with the Company to go through an onboarding process and comply with our Compliance Program. You agree to provide Your personal information like your name, address, and ID to verify your identity, source of funds and any other document required for completion of the onboarding process by the Company. You represent and warrant that the information you provide is accurate and complete, and promptly update your User Account and/or Wallet Account information within 7(seven) days of any changes. Failure to provide requested information or keep your information up to date may limit your access to Services and funds. The Company reserves to disable or suspend or terminate the Services with or without notice in case of any incorrect or incomplete information provided by the User or breach of User Terms or any illegal activity like fraud (including suspected or attempt thereof) by the User.
2.5 We'll use the Services to contact you and may use your email or phone number for communication if you provide it and consent to us doing so.
2.6 You can close your User Account or Wallet Account at any time, but depending on the Services, there may be additional actions required to complete pending transactions or provide further information. You are responsible for any fees associated with your accounts, including those incurred from closing them. Please note that closing your accounts may not result in the complete deletion of information we hold about you or your activities.
2.7 [kindly add a right to reactivate the user account by following appropriate procedure].
3 THE PRIVATE KEY WALLET
Terms of using the wallet (private key wallet):
By using the wallet, you agree to this agreement and section 3.
The wallet is provided by L1CT Solutions Private Limited entity outlined above.
3.1 The Wallet can only hold specific Digital Assets that we have authorized, and we may modify this list without warning. You cannot store any Digital Assets in the Wallet that is not supported by us.
3.2 When you create the Wallet, it generates a private and public key pair for sending and receiving supported Digital Assets. It's crucial to back up your Wallet credentials, such as passphrases, private keys, and network addresses, outside of the Services. Without a backup, you may lose access to your Digital Assets if we discontinue or stop offering some or all Services. We are not responsible for keeping this information for you.
(a) Risk Disclosures Relating to the Wallet
(1) To complete a Digital Assets transaction with the Wallet, it must be verified and added to the associated Digital Assets ledger. These ledgers are supported by independent third parties, and not controlled by L1CT Solutions Private Limited We have no control over these third parties and are not liable for their actions.
(2) L1CT Solutions Private Limited cannot guarantee that transaction details submitted through their Services will be confirmed on the relevant Digital Assets network and has no control over it. There may be substantial delays or the transaction may not be completed at all. The Wallet provided by Accenture Technologies Private Limited does not guarantee the transfer of title or right in any Digital Assets, and no warranties are made regarding the title
(3) Once transaction details have been submitted to a Digital Assets network, L1CT Solutions Private Limited cannot help with canceling or modifying the transaction or transaction details. L1CT Solutions Private Limited has no control over any Digital Assets network and cannot assist in any cancellation or modification requests.
3.3 Forks
(a) The protocols underlying Digital Assets are subject to sudden changes in operating rules (known as Forks or Hard Forks) that can significantly impact the value, function, and name of the Digital Assets stored in your Wallet Account. While L1CT Solutions Private Limited. will make an effort to notify you of such Forks, it is your responsibility to read and understand any notices or alerts received and take appropriate action as you see fit.
(b) You are responsible for being aware of and planning for upcoming Forks. In the event of a Fork or network disruption, L1CT Solutions Private Limited. may need to temporarily suspend operations without notice. L1CT Solutions Private Limited. may choose not to support either branch of a Fork without prior notice. You acknowledge the risks of Forks and accept that L1CT Solutions Private Limited. has no responsibility to assist you in moving or selling an unsupported branch of a forked protocol and the unsupported forked Digital Assets may not be made available to you. L1CT Solutions Private Limited. is not liable for any loss you incur, caused in whole or in part, directly or indirectly, by a Fork or other network disruption.
3.4 No Password Retrieval
(a) L1CT Solutions Private Limited doesn't store or receive your Wallet password, keys, network addresses, or transaction history. You're responsible for keeping your password secret and remembering it. If you forget it, L1CT Solutions Private Limited can't help you retrieve it. If a third party knows your credentials, they can dispose of Digital Assets in your Wallet, making them inaccessible.
(b) When creating a Wallet, you must: (i) use a strong password that's unique to this service; (ii) provide accurate information; (iii) keep your credentials secret; (iv) protect access to your device and Wallet; (v) inform us of any security breaches promptly, and (vi) use the backup feature and keep your backup files safe. You're responsible for all activities on your Wallet, and you accept all risks associated with authorized or unauthorized access, as allowed by law.
3.5 L1CT Solutions Private Limited currently doesn't charge fees for receiving, sending, or controlling Digital Assets in your Wallet, but we may do so in the future without notice. Transactions may be subject to network fees, including the miner's fees. We may calculate this fee for you, but it might not be accurate, and you can choose a different fee. You're responsible for paying the fee, and L1CT Solutions Private Limited won't advance or fund it for you. We're not liable for any incorrect fee calculations.
4 TRADING ACCOUNT
By using a Trading Account, you agree to the terms outlined in this Section 4 and this Agreement. The Trading Account is offered solely by L1CT Solutions Private Limited (as specified above).
4.1 If you buy Digital Assets with fiat currency in your Private Key Wallet, they'll be held in your Trading Account. L1CT Solutions Private Limited will hold all Digital Assets in your Trading Account in trust for your benefit on a custodial basis. This means that:
(a) You retain ownership of your Digital Assets at all times, and they won't transfer to any company in the L1CT Solutions Private Limited, except as specified in the Agreement. You're responsible for any loss of Digital Assets in your Trading Account, and we're not liable for changes in the fiat currency value of Digital Assets held in your Trading Account.
(b) The Digital Assets held in your Trading Account are not owned by L1CT Solutions Private Limited., and they cannot be loaned to or used by L1CT Solutions Private Limited L1CT Solutions Private Limited does not treat these assets as its property and cannot grant a security interest in them. L1CT Solutions Private Limited will not sell, transfer, loan, or pledge your Digital Assets unless instructed by you or compelled by court order, except as provided in the Agreement.
(c) You have complete control over the Digital Assets in your Trading Account and can withdraw them to a different address at any time, subject to certain limitations. If you want to transfer Digital Assets into your Wallet, you may need to create a backup phrase.
(d) L1CT Solutions Private Limited may use shared blockchain addresses to securely custody assets held on behalf of customers and themselves. Customers' assets are separated from each other and L1CT Solutions Private Limited's assets through separate ledger accounting entries. L1CT Solutions Private Limited will maintain accurate records of customers' assets but is not obligated to segregate customers' assets by blockchain address.
(e) We may store any Digital Assets you deposit for use on Exchange in a “hot wallet”, “cold wallet” or another storage method at our sole discretion.
4.2 Minimum holding periods may apply to Digital Assets purchased in your Trading Account, lasting up to 7 days, to prevent fraud and ensure settlement of fiat currency. Once the holding period expires, normal trading may resume.
4.3 Transactions in the Trading Account cannot be cancelled, reversed, or changed. We may suspend, delay, redirect, reverse, or cancel transactions for any reason, such as suspected fraud, breach of the agreement, or illicit activity. Any network fees incurred will be your responsibility.
4.4 Transaction limits in the Trading Account may vary based on factors like timing, location, and the type of Digital Assets involved. We can adjust these limits as we see fit.
4.5 Reversing a payment or having a failed transaction that results in a negative balance may lead to the liquidation of your assets to offset the balance. You're responsible for settling the balance, and we may engage debt collectors to recover any outstanding debt
5
The L1CT Solutions Private Limited Earn Products, including Passive Rewards, Staking Services, and Active Rewards, are subject to specific terms in Section 5 of the agreement. By using these products, you agree to all the terms in this section and the overall agreement. The L1CT Solutions Private Limited entity provides these products.
To open an L1CT Solutions Private Limited Earn Product, you need to comply with this Agreement and have a Gold Level Wallet Account. If you breach the Agreement or fail to meet the criteria for the product, we may suspend your access or close your account without notice.
5.1 PASSIVE REWARDS
5.1.1
Eligible Reward Assets that are transferred from your Wallet Account into your Wallet Reward Account shall accrue rewards by the terms set out below.
Transferred eligible reward assets into your Wallet Reward Account will earn rewards as per the terms below.
(a) The minimum initial transfer of Eligible Reward Assets into your Wallet Reward Account is $1 or an amount set by the Services, which may change without prior notice.
(b) We recommend that you maintain a Minimum Balance of $1 in Eligible Reward Assets to ensure the Initial Transfer's integrity and cover network fees. The Minimum Balance may change without notice, and we may make it mandatory at our sole discretion. If your Wallet Reward Account falls below the mandatory Minimum Balance, you'll stop earning rewards until you reach it again.
(c) Reward Rates: Reward rates on Wallet Reward Account are determined monthly. Changes to the reward rate, if possible, will be announced in advance through the Services.
(d) Payment of Rewards. Rewards accumulate daily based on a daily periodic rate applied to Eligible Reward Assets in your Wallet Reward Account. They will be added to your account on the first day of each calendar month, regardless of transfer timing, and paid in the Eligible Reward Asset.
(e) Daily Reward Computation Method. Daily rewards are calculated based on your Wallet Reward Account balance and a daily rate from the reward rate. Rewards compound daily and are paid the following month, minus fees or offsets.
(f) Cut-off Time for Transfers into Wallet Reward Account: The transfer cut-off time for eligible reward assets to your Wallet Reward Account is 5:00 pm UTC. Transfers before 5:00 pm UTC earn rewards on the same day, while transfers after accrue rewards from the following day.
(g) You must retain any Eligible Reward Assets in your Wallet Reward Account for a minimum of 7 days, or a duration specified through the Services or mandated by Applicable Law or other factors. You cannot withdraw such Eligible Reward Assets before the completion of the Minimum Holding Period, which can change without prior notification.
(h) Cut-off time for Withdrawals after the Minimum Holding Period. After the holding period, you can withdraw Eligible Reward Assets from your Wallet Reward Account. Your assets will be returned promptly upon submitting a withdrawal, but it may take longer for large amounts due to legal or other requirements.
(i) Impact of Withdrawals on your Wallet Reward Account: If you withdraw Eligible Reward Assets before 5.00 pm UTC on the day of the Wallet Reward Account Withdrawal, you will not receive rewards on those assets (and we will deduct any accrued rewards). If compliance review delays the withdrawal of Eligible Reward Assets, you will not receive rewards during that delay. Rewards will only accrue on Eligible Reward Assets remaining in your Wallet Reward Account. For instance, if you withdraw 25% of your Eligible Reward Assets before 5.00 pm UTC, we will deduct 25% of the accrued rewards on that day.
(j) Transfer and Withdrawal Fee. Each transfer and withdrawal will incur a network fee for using network services. The exact amount will be shown after the transfer or withdrawal is confirmed on the chain. Please refer to https://support.L1 Blockchain Technologies Private Limited for more information on network fees.
(k) Withdrawal Destination: Following a Wallet Reward Account Withdrawal, any Eligible Reward Assets to be returned to you shall be paid into the default withdrawal account nominated in your Wallet Account.
(l) Restrictions on Reward Payments. If regulatory or legal restrictions limit the reward rate, we can offer you (or prevent us from paying any reward to you), we will adjust your rewards accordingly and notify you in writing, if possible.
5.1.2 Consent to Rehypothecate Eligible Reward Asset
(a) By earning rewards on Eligible Reward Assets in your Wallet Reward Account and transferring them to the account, you transfer all rights, title, and interest in those assets to L1CT Solutions Private Limited This allows us to pledge, sell, lend, or otherwise transfer or use the assets, subject to Applicable Law and without notifying you. We may also use or invest these assets at our own risk without keeping a corresponding amount of Digital Assets in our possession or control.
(b) You acknowledge that if L1CT Solutions Private Limited uses your transferred Eligible Reward Assets, you may not be able to exercise certain ownership rights, and L1CT Solutions Private Limited may receive compensation to which you have no claim. You are not entitled to any profits or losses L1CT Solutions Private Limited may generate from the use of your assets. Any reward rates are not tied to L1CT Solutions Private Limited's income or profits, and L1CT Solutions Private Limited may experience losses for which you are not responsible. In the unlikely event of losses exceeding L1CT Solutions Private Limited's available resources, you may suffer a loss and your claim will rank Pari passu with other unsecured creditors.
(c) Your Wallet Reward Account is not a bank account and is not insured against losses. By transferring Eligible Reward Assets to your Wallet Reward Account, you transfer ownership to L1CT Solutions Private Limited in exchange for our contractual obligation to pay you rewards and return an equivalent amount of Digital Assets upon your request for a Wallet Reward Account Withdrawal.
(d) L1CT Solutions Private Limited does not own or have any ownership interest in your Digital Assets, except for the Eligible Reward Assets as mentioned in the previous section. However, L1CT Solutions Private Limited has the right to set off any matured obligation due from you against any matured obligation owed to you by L1CT Solutions Private Limited, regardless of the nature of the payment obligation or how it arose. If the obligations are in different Digital Assets or currencies, L1CT Solutions Private Limited may convert either obligation at a market rate of exchange in its usual course of business for the set-off.
5.2 STAKING SERVICES.
5.2.1 Provision of staking services By using our Staking Services, you agree to let us stake your eligible Digital Assets held in your Trading Account and/or User Account (the "Staked Digital Assets"). Staking involves holding certain Digital Assets in a cryptocurrency wallet to support a blockchain network. We may change the Staked Digital Assets at any time without notice, and we don't guarantee you'll receive any specific percentage of Staking Rewards. We also don't guarantee uninterrupted or error-free staking, or that we'll stake any particular Digital Asset. We may begin or cease taking any Digital Asset at any time in our sole discretion without notice. Staking Services are subject to eligibility criteria and may be paused or discontinued at any time without notice. Your Digital Assets will be moved to a new staking wallet, and you may or may not retain ownership during the staking period depending on the network. The title to the Staked Digital Assets will not transfer to us.
(a) Title to the Staked Digital Assets will not transfer to any company in the L1CT Solutions Private Limited Group, and as the owner of the Staked Digital Assets, you bear all risk of loss. L1CT Solutions Private Limited is not liable for fluctuations in the fiat currency value of Staked Digital Assets held in your Trading Account or User Account.
(b) L1CT Solutions Private Limited does not own or loan any of the Staked Digital Assets in your Trading Account or User Account. We do not treat them as our property and may not grant a security interest in them. We won't sell, transfer, loan, pledge, or otherwise dispose of Staked Digital Assets held in your Trading Account or User Account without your instructions unless required by Applicable Law or a court of competent jurisdiction.
(c) You have control over the Digital Assets held in your Trading Account and User Account, and you can withdraw your Staked Digital Assets by sending them to a different blockchain address controlled by you or a third party, subject to any applicable lock-up period, outages, downtime, requirements under Applicable Law, and other applicable policies. If you want to transfer Digital Assets into the Wallet, you may need to set up a backup phrase.
5.2.2 Earning Staking Rewards: To earn Staking Rewards, you need to opt-in through the Staking Rewards Program by transferring funds and clicking on the relevant tab on the L1CT Solutions Private Limited website or app. The applicable percentage of Staking Rewards will be remitted to you subject to fees, offsets, or requirements under Applicable Law or other considerations as determined by L1CT Solutions Private Limited The percentage and timing of these remittances may change at any time without prior notice, and we cannot guarantee that you will receive any Staking Rewards. The Staking Services may be subject to disruptions outside of our control that may prevent the earning of Staking Rewards.
5.2.3 Lockup Period: Digital Assets pledged for staking will be locked on the protocol and subject to the applicable bonding period. L1CT Solutions Private Limited may determine the overall bonding and nonbonding period at its sole discretion. For certain Digital Assets, such as Ethereum holders staking ETH, once staked, they cannot be unstacked or transferred for an unknown period.
5.2.4 Slashing Penalty. L1CT Solutions Private Limited may compensate you for slashing penalties resulting from errors in the Staking Service, except if caused by your acts, maintenance issues, hackers, or Force Majeure Events.
5.3 ACTIVE REWARDS. Active Rewards program = Earn rewards on specific digital assets by (a) locking them up for a fixed period and (b) agreeing to a purchase price at the end of that period.
5.3.1 Entering the Active Rewards and the Corresponding Lock-up.
To participate in Active Rewards, transfer eligible Digital Assets from Trading Account to Active Reward Account for a fixed period. These assets will be locked up and unavailable for trading or liquidation for up to 1 week. You'll receive a fixed weekly return. Lock-up periods start and end every Monday at 1700 UCT, also known as the Expiration Time.
5.3.2 Auto-Enrolment and Withdrawals.
By keeping your Digital Assets in Active Rewards, you'll be automatically enrolled for each subsequent week until you unsubscribe. If you give notice of your intention to unsubscribe during the lock-up period, you'll be unsubscribed immediately at the Expiration Time. Consider whether the product is suitable for you and if you'll need access to your Digital Assets during locked or illiquid periods.
5.3.3 Day 1 Lock-Up Value and Strike Price: The starting USD value of your Digital Assets during lock-up is called the "Day 1 Lock-Up Value." We'll give you a USD price called the "Strike Price" before lock-up begins. The Strike Price will be updated each week after the Expiration Time.
5.4 BCDC Purchase Right:
If your Digital Asset's market price at the end of the lock-up period is higher than the Strike Price, we may exercise the BCDC Purchase Right to buy your locked-up assets at the Strike Price. We'll determine the market price using publicly available data.
5.5 End of the Lock-up Period.
If, at the time that the lock-up period ends
(a) If we exercise the BCDC Purchase Right, you'll receive Digital Assets equal to the Day 1 Lock-Up Value based on the Strike Price. All payments will be made in the form of the deposited Digital Asset, without any fiat or stablecoin equivalent.
(b) we do not exercise the BCDC Purchase Right, you will receive Digital Assets equivalent to the Digital Assets you have deposited with us; and
(c) If the market price of your locked-up Digital Assets drops at or below the Strike Price, we'll return the same amount of Digital Assets you deposited with us (e.g., if you deposited 1 BTC, you'll receive 1 BTC back).
You can learn more about the Active Rewards program HERE.
6 SWAPS:
We may offer Swap for your Wallet interface use. By using Swap, you agree to all the terms of this Agreement and Section 6. It's provided solely by L1CT Solutions Private Limited
6.1 Swap displays a conversion rate with a service fee, which you agree to pay. Fees may change. We'll send you the requested Digital Assets, minus fees, by executing a transaction from our address to your Wallet's address.
6.2 We may, at our sole discretion, require you to provide additional information under our Compliance Program before participating in Swap or receiving funds.
6.3 You cannot modify a Swap transaction, while we reserve the right to suspend, delay, redirect, reverse, or cancel any Swap transaction at any time without notice if there is suspicion of fraud, crime, breach of agreement, or illicit activity.
6.4 We may set, adjust, or remove Swap transaction limits at any time without notice, based on factors such as transaction time, location, Digital Assets involved, and our discretion.
7 LOCK BOXES
By using Lockbox, you agree to this Agreement and Section 7's terms. Lockbox is provided solely by L1CT Solutions Private Limited
7.1 We may offer you a Lockbox hardware device from L1CT Solutions Private Limited to use with the Wallet or other Services, but the Lockbox is made, sold, and supported by third parties, not us. You don't have a relationship with L1CT Solutions Private Limited unless stated in this Agreement, and we don't resell Lockboxes. We may include Lockbox features, but we don't guarantee support or access and aren't responsible for any damages caused by a Lockbox or its use, whether or not it's used with our Services.
7.2 L1CT Solutions Private Limited is not responsible for storing or receiving passwords, keys, network addresses, transaction history, PINs, or any other Lockbox credentials. We cannot help you retrieve Lockbox credentials, and it is your sole responsibility to remember, store, and keep them secret. If you lose or disclose your credentials, any Digital Assets associated with the Lockbox may become inaccessible or be disposed of by a third party who knows your credentials.
7.3 When setting up a Lockbox, you agree to create strong and unique credentials (like PINs), protect and keep them secret, safeguard access to your Lockbox, promptly notify us of any security breaches related to your Lockbox, and use the backup functionality provided with the Lockbox while keeping all backup information confidential. You also agree to take full responsibility for all activities related to your Lockbox and assume all risks associated with authorized or unauthorized access to it, to the fullest extent permitted by law.
7.4 L1CT Solutions Private Limited will never take custody or control over any Digital Assets stored using a Lockbox, nor will we have access to any associated credentials or the ability to recover any Digital Assets used with a Lockbox.
7.5 "Digital asset info may be inaccurate, verify it independently. Lockbox services are provided 'AS IS' with no warranties. We're not responsible for viruses or interruptions. Any defects should be reported to the third party offering the Lockbox. We're not liable for any loss from relying on Lockbox info."
8 AIRDROP PROGRAM
"Agree to terms of Airdrop Program including Section 8. The program offered by L1CT Solutions Private Limited"
8.1 We may offer you a Digital Assets Airdrop, but we are not responsible for the Digital Assets, which are created and supported by the network developer, not us. You must research and understand the network's implications, and cannot rely on our statements about Digital Assets.
8.2 Each Airdrop shall be subject to any terms displayed in the Services, including terms set by the network creator or developer.
8.3 No purchase is required for the Airdrop, but you need a Wallet Account. While L1CT Solutions Private Limited currently does not charge a fee for the Airdrop, we may do so at our discretion in the future without prior notice.
8.4 Airdrop offer for Digital Assets is limited and subject to availability. Once the supply of Digital Assets offered by L1CT Solutions Private Limited is depleted, those on the waitlist or who have completed certain steps but haven't received notice of award won't be eligible for the Airdrop. L1CT Solutions Private Limited can modify or suspend Airdrop requirements, including the advertised amount, at its sole discretion and without prior notice.
(a) Eligibility
(1) Some jurisdictions may not be eligible to participate in Airdrops and users from sanctioned countries or territories, or those with adverse regulatory risks, are excluded. If you have multiple wallets with L1CT Solutions Private Limited, you can only receive Digital Assets from one wallet and for one user account during an Airdrop.
(2) L1CT Solutions Private Limited has the sole discretion to determine the eligibility criteria, including the number of Tokens to be distributed, for each Airdrop. The company is not obligated to notify users of the eligibility criteria before executing the Airdrop, despite anything to the contrary in the agreement.
(3) To receive an Airdrop, participants must have a Verified Account, which is an approved, KYC-verified, live Exchange account with a positive balance of the relevant Token. This requirement is in addition to any other eligibility criteria set forth in the agreement or determined by L1CT Solutions Private Limited
(4) L1CT Solutions Private Limited may disqualify any user from an Airdrop without prior notice and for any reason whatsoever, including breach of the agreement or inappropriate conduct, at its sole discretion.
(5) Tokens will be credited to the Eligible User’s Verified Account on a date and time determined by L1CT Solutions Private Limited Upon completion of an Airdrop, L1CT Solutions Private Limited will notify the Eligible User that Tokens were credited to that Eligible User’s Verified Account.
(6) Airdrops are not transferable and no substitutions or cash equivalents are permitted.
(7) L1CT Solutions Private Limited's decisions regarding Airdrops are final, and there is no option for appeal or review. Airdrops are subject to the laws of England and Wales and the exclusive jurisdiction of the English courts.
9 EXCHANGE
By using Exchange, you agree to the terms of this Agreement and Section 9. L1CT Solutions Private Limited exclusively provides the Exchange.
9.1 Exchange allows buying and selling of Digital Assets with fiat currency or other Digital Assets, subject to this Agreement. A User Account is necessary to access Exchange and may require actions related to Compliance Program. The use of Exchange is governed by Trading Principles available here, which may be updated without prior notice. In case of any inconsistency, this Agreement will govern matters related to this section.
9.2 Exchange availability is subject to market and jurisdiction restrictions. L1CT Solutions Private Limited may limit or prohibit Exchange use in certain jurisdictions, including Restricted Locations, at its sole discretion. Such limitations may be updated at any time.
9.3 General Obligations
(a) Number of User Accounts. Limit on user accounts. Exceeding the limit may result in account termination or suspension. Positions and funds may be liquidated, frozen, or refunded.
(b) Hardware and Software Requirements. We may limit the use of Exchange to certain hardware devices and/or supported software. We do not guarantee that Exchange will be accessible through all manufacturers of electronic devices or software developers. Access to Exchange may also require certain hardware, software, and security protocols, which could result in your inability to access Exchange.
(c) User Account Access: To access your User Account, you'll need to provide login credentials (Credentials). Additional security measures may be required, such as two-factor authentication (2FA), which could involve passcodes sent via text, email, or an app. It's your responsibility to keep your login details secure. We may use data from 2FA to verify your use of Exchange, but we're not responsible for any damage caused by 2FA apps, devices, software, or methods.
(d) Exchange Communications: L1CT Solutions Private Limited may provide a chat or messaging feature on Exchange for communication with other participants. Use of this feature is subject to the terms of the Agreement and Trading Principles. L1CT Solutions Private Limited may suspend or terminate your use of messaging at their discretion. All communications on the messaging feature are monitored and retained by L1CT Solutions Private Limited and can be produced in response to requests from law enforcement or regulatory authorities. The messaging feature is not a method of execution, and communications regarding transactions are for discussion only. All orders must be executed through Exchange’s order process.
(e) User Account Information: L1CT Solutions Private Limited may allow you to see some of your account histories, but the duration and content of this history are up to our discretion and may change without prior notice. The account history may contain information on your fiat and Digital Assets balances, executed and unexecuted transaction details, and deposit/withdrawal records.
9.4 Deposits and Withdrawals to Your User Account
(a) To complete a Digital Assets transaction, you need enough funds in your User Account, either as Digital Assets or fiat currency, depending on the order type. L1CT Solutions Private Limited may not always support all funding methods and can change them without prior notice. You are responsible for using external accounts, providers, or services to transfer funds to your User Account, and deposit times may vary due to third-party performance. We are not liable for damages resulting from any order, including failed or delayed funding.
(b) Treatment of Fiat Funds. We hold your deposited fiat currency in your user account for you, in a third-party bank account. For USD balances, we may use a combination of USD fiat currency, USDC, and USDP stablecoin. By using our exchange, you agree to allow us to manage your USD balances by converting them to USDC, USDP, or both at our discretion. Your USD balance in your user account may consist of any combination of these. Each account is separate from L1CT Solutions Private Limited’s. Operating bank account(s), and we maintain accurate records of fiat currency holdings and ownership.
(c) Treatment of Digital Assets. Digital assets in your user account on the exchange are held by L1CT Solutions Private Limited in trust for you on a custodial basis. This implies that:
(1) You own the digital assets in your user account, and the title to them always remains with you. It will not transfer to any company in the L1CT Solutions Private Limited group. You will bear all risks associated with the loss of your digital assets, and no company in the L1CT Solutions Private Limited group will be liable for fluctuations in their value or any other risks of loss.
(2) Digital assets in your user account cannot be owned or loaned by L1CT Solutions Private Limited They do not claim legal title to any digital assets in your account and cannot grant a security interest in them. L1CT Solutions Private Limited cannot sell, transfer, loan, pledge, or otherwise dispose of your digital assets without your instruction or court order. The only exception is if L1CT Solutions Private Limited is required to do so by a valid court order or as provided in the agreement.
(3) You have complete control over the digital assets in your user account at all times. You can withdraw your digital assets to a different blockchain address controlled by you or a third party at any time, subject to applicable policies and any outages or downtime that may occur.
(4) To enhance the security of asset custody, L1CT Solutions Private Limited may use shared blockchain addresses controlled by a member of their group to hold digital assets held on behalf of customers or L1CT Solutions Private Limited However, your digital assets will always be kept separate from L1CT Solutions Private Limited's own digital assets or funds. L1CT Solutions Private Limited will keep accurate records of your digital assets and ownership thereof. However, they have no obligation to segregate your digital assets from other customers' digital assets or those owned by any member of the L1CT Solutions Private Limited group, although separate ledger accounting entries are maintained.
(5) Any digital assets you deposit on the exchange may be stored using a "hot wallet," "cold wallet," or other storage method chosen by L1CT Solutions Private Limited at their sole discretion. L1CT Solutions Private Limited may change how they store your digital assets at any time and without prior notice.
(d) Treatment of Algos: When you hold Algos in your user account on the exchange, you will not receive any Algo staking rewards in respect of your account balance. However, you may receive awards in the future.
(e) Withdrawing Funds from Your User Account: If the available balance in your user account is greater than the minimum balance required to satisfy all open orders, you can request a withdrawal of digital assets or fiat currency. If you're using the services with a USD-denominated digital asset or fiat currency balance, you may withdraw in USD fiat currency, USDC, or USDP, regardless of the type of currency initially deposited. By using the exchange, you agree that L1CT Solutions Private Limited may convert your USDC and/or USDP to USD fiat currency at their discretion. You are solely responsible for any losses resulting from any external account, provider, or service. The timing of any withdrawal request cannot be guaranteed. Requests may be delayed or cancelled subject to compliance considerations, regulatory requirements, or other controls applied at L1CT Solutions Private Limited's sole discretion.
(f) Payment Service Providers: We may use a third-party payment services provider to process fiat currency deposit and withdrawal requests, and you may be redirected to a third-party website to complete these transactions. You are solely responsible for any actions taken on the third-party website, and we shall not be liable for any damages or losses resulting from such website or provider.
(g) Deposit and Withdrawal Limits. We may, in our sole discretion, impose daily, weekly, monthly, or other periodic limits on deposits and withdrawals, which we may implement, eliminate, increase, or decrease at any time without advance notice.
(h) Reversals of Payment Instructions and/or Negative Balances. We may sell your assets to offset a negative balance if a payment is reversed or a transaction fails, and you are responsible for settling the balance. Debt collectors may be engaged to pursue outstanding debt on our behalf, and you'll be responsible for any associated costs or fines.
(I) Erroneous Deposits. If an incorrect deposit is made into your account, you must notify us and return the funds promptly. If you fail to return the funds, you'll owe us the amount of the incorrect deposit, which we may debit from your User Account. We may also take further action to recover the funds, and you'll be responsible for any associated costs, damages, fines, or fees. Until the balance is settled, you'll remain fully liable, and we may engage debt collectors to pursue outstanding debts on our behalf.
9.5 L1CT Solutions Private Limited Activity
(a) Order Types: We offer various order types on the Exchange but can't guarantee execution or specific execution time. We're not responsible for delays or unexecuted orders.
(b) Cancellation Policy: The Exchange is a live marketplace, and orders are binding, so you may not be able to cancel them. Review all order details, including quantity, price, and required funds, before placing them. For cancellation practices, see the Trading Principles.
(c) L1CT Solutions Private Limited Own Account Dealing. Any member of our group may actively participate in the Exchange and place its own orders, so we may be the counterparty to your order.
9.6 Fees.
You're responsible for paying fees associated with your use of the Exchange. Fees are typically deducted from the total cost of your order. We may change the fee schedule at any time without notice and may offset any owed amount against your funds. We'll provide prior written notice of any other fees or processing changes.
10. API
We offer API endpoints as part of our Services. If you access or use our APIs, you agree to the API Agreement found at www.L1 Blockchain Technologies Private Limited/legal/API-terms.
11 THIRD-PARTY CONTENTS
11.1 Using the Services, you may come across Third Party Content, including links to web pages and services provided by third parties. We do not control or endorse any Third-Party Content and are not responsible for it, including any misleading, incomplete, erroneous, offensive, indecent, or objectionable material. Your dealings with third parties are solely between you and them, and we are not liable for any loss or damage resulting from such dealings. Your use of Third-Party Content is at your own risk.
11.2 By using Modular services, you agree to this Agreement and Modular’s additional terms and conditions, which can be found here.
11.3 Envestnet | Yodlee may connect the Services, and when you request data from a connected source, Yodlee collects and provides it to us. Yodlee acts on our behalf, so we share your data with Yodlee as a service provider. For more information on Yodlee's handling of your data, please refer to its Commitment to its Clients and their Users available at www.yodlee.com/clients-consumers. In case of any inconsistency between Yodlee's Commitment and this Agreement regarding Yodlee's activities, Yodlee's Commitment prevails.
12 GENERAL RISK FACTORS
12.1 L1CT Solutions Private Limited does not provide investment, tax, legal, or professional advice through the Services, including the ability to buy, sell, or store Digital Assets, nor do we endorse any such activities. It is your responsibility to consult a qualified professional before engaging in any transaction or activity. You acknowledge and assume all liability and responsibility for determining the suitability of such risks for you, as well as ensuring the legality of using the Services in your jurisdiction. L1CT Solutions Private Limited disclaims all liability for any attendant risks associated with using the Services. Although we list some potential risks, this list is not comprehensive, and you may be exposed to other significant risks.
(a) The hardware, software, or connections necessary to interact with a Digital Assets network may fail, or be subject to malware, unauthorized access, or malicious attacks. Third parties may also gain unauthorized access to the Services, including your public and private keys. L1CT Solutions Private Limited is not liable or responsible for any adverse events or consequences resulting from communication failures, disruptions, errors, distortions, or delays that may occur when using the Services, regardless of cause.
(b) Forks, unknown vulnerabilities, or unanticipated changes to the network protocol may result in losses to you or others, and L1CT Solutions Private Limited has no control over any cryptocurrency network. We are not responsible for any harm resulting from the inability to reverse a transaction or any losses due to erroneous or fraudulent actions, adverse events, or consequences that may arise.
(c) Market orders for digital assets execute promptly at the current market price without a limit price. The execution price may differ significantly from the best price indicated due to high volume, fast market conditions, illiquidity, or volatility. The blockchain and relevant protocols may also affect the timing of transactions. Blockcahin.com is not responsible for any price differences or adverse events that may occur.
(d) In some market conditions, it may be difficult to sell a position due to insufficient demand. Placing stop or limit orders does not guarantee limited losses as market conditions may prevent execution. Orders may execute at values different from anticipated, causing losses. Blockcahin.com is not responsible for any adverse events or consequences resulting from such price differences.
(e) Digital Assets are not legal tender, are not backed by the government, and accounts and value balances are not subject to Federal Deposit Insurance Corporation or Securities Investor Protection Corporation protections.
(f) Changes in laws and regulations at state, federal, or international levels can harm the value and use of digital assets. Future policies or rules may limit your interaction with L1CT Solutions Private Limited and your ability to use, transfer, or exchange digital assets.
(g) Digital asset transactions are irreversible, and losses due to fraudulent or accidental transactions may be irrecoverable. Sending digital assets to the wrong address, which may be due to human error, could result in the loss of access to your digital assets. L1CT Solutions Private Limited cannot recover digital assets sent to an address that is not under its control.
(h) The value of a digital asset depends on market participants' willingness to exchange fiat currency for it. If the market for a particular digital asset is materially adversely impacted or disappears, the digital asset may lose its value permanently and completely.
(I) Acceptance of a digital asset as payment today does not guarantee that it will be accepted as payment in the future.
(j) Digital assets are highly volatile and unpredictable, and their prices can fluctuate significantly over a short period of time. The liquidity of digital assets is also subject to significant fluctuations and can be unpredictable. Past price fluctuations in digital assets may not be indicative of future price fluctuations, and investors should be aware of the potential for significant losses.
(k) The nature of Digital Assets may result in an increased risk of fraud, theft, hack, or cyber-attack.
(l) The nature of Digital Assets is such that any technological difficulties experienced by L1CT Solutions Private Limited may prevent the access or use of your Digital Assets.
12.2 When using our services, you acknowledge and agree that the data sources and third parties involved in maintaining and interacting with your account are not responsible for any loss, theft, compromise, or misuse of your account data or credentials, except where such liability cannot be limited under applicable law. This includes any negligence on their part.
12.3 The data sources we use provide no warranties regarding the accuracy or completeness of the data provided by our services, whether express, implied, statutory, or otherwise. Furthermore, the data provided by our services is not an official record of any of your accounts.
13 GENERAL PROVISIONS
13.1 Intellectual Property
(a) The Services and any other materials or content provided by L1CT Solutions Private Limited, including all intellectual property rights, are the property of L1CT Solutions Private Limited or its licensors or suppliers unless otherwise indicated. We do not grant any implied license for the use of the Services' content.
(b) You agree that the material and content provided by the Services are for your personal, lawful, and non-commercial use only. You may only use such material and content for the purpose of using the Services as described in this Agreement.
(c) You acknowledge that any use of the content from the Services other than for personal, lawful, and non-commercial purposes is strictly prohibited. You agree not to infringe on our intellectual property rights or enable others to do so. You also agree to retain all copyrighted and proprietary notices contained in the material provided by the Services on any copy you make of the material. Failure to do so will not affect L1CT Solutions Private Limited's intellectual property rights.
(d) You may not sell or modify materials derived or created from the Services. Additionally, you may not reproduce, display, publicly perform, distribute, or use the materials in any way for any public or commercial purpose. Using such materials on any other website or on a file-sharing or similar service for any purpose is strictly prohibited. You may not copy any material or content derived or created from the Services without our express, written permission.
(e) L1CT Solutions Private Limited reserves all rights not expressly granted in this Agreement to use the materials contained on or through the Services.
13.2 L1CT Solutions Private Limited may share information about your use of the Services with third parties, courts, law enforcement, regulators, and policymakers in response to their requests. More information on how we respond to such requests can be found in our Law Enforcement Policy.
13.3 L1CT Solutions Private Limited may create and keep records of your activity and communications related to your User or Wallet Account, based on the Services you use.
13.4 Death of Account Holder
(a) If we receive legal proof of your death or other information leading us to believe you have died, we will freeze your User Account for security reasons. No transactions can be made until either: (I) your designated fiduciary opens a new account and your funds are transferred, or (ii) we receive proof that you are alive. If we suspect you may have died, we may investigate by making inquiries through third parties.
(b) After receiving proof of your death, your designated fiduciary will need to open a new User Account. If you haven't designated a fiduciary, we may determine who is entitled to inherit your account based on Applicable Law and a review of necessary documents. If there is uncertainty about the validity of the fiduciary designation, we may require a court order before taking any action related to your User Account.
(c) After your death, your designated fiduciary must open a new User Account to access your account contents. You agree that your fiduciary must comply with this Agreement and provide the necessary information to open the new account.
14 FEEDBACK AND COMPLAINTS
14.1 If you provide us with any suggestions, ideas, feedback, or recommendations regarding our Services, we may use them without any obligation to you. By providing Feedback, you grant us a worldwide, perpetual, irrevocable, transferable, sublicensable, fully paid, and royalty-free license to use and exploit it. You waive any legal or other rights to the fullest extent permitted under the law by submitting Feedback.
14.2 We'll make commercially reasonable efforts to provide email-based support services in response to Feedback, but we can't guarantee immediate responses, especially during periods of high volume.
15 REPRESENTATIONS, WARRANTIES, INDEMNIFICATION, AND LIMITATIONS OF LIABILITY
15.1
You confirm that you: (a) are not in, under control of, or a resident of any Restricted Location or a country under US embargo for goods and services; (b) are not identified as a “Specially Designated National” by the US Treasury Department; and (c) will not use the Services if any Applicable Law prohibits you from doing so.
15.2
When using our Services, you're solely responsible for your conduct. You agree not to:
When using our Services, you agree not to:
(a) interfere with, disrupt, negatively affect, or inhibit other users from enjoying the Services, or damage, disable, overburden, or impair our Services in any way;
(b) use the Services for illegal activities, such as illegal gambling, fraud, money laundering, or terrorist activities;
(c) access our Services or extract data using any automated means or interface not provided by us;
(d) use or attempt to use someone else's User Account Wallet Account, or credentials without authorization;
(e) circumvent any content filtering techniques we employ or access any unauthorized service or area of our Services;
(f) introduce viruses, Trojan horses, worms, logic bombs, or any other harmful material to our Services;
(g) develop third-party applications that interact with our Services without our written consent;
(h) provide false, inaccurate, or misleading information; or (I) encourage or induce others to engage in any of the activities prohibited under this section.
15.3
We aim to verify the accuracy of the information displayed or passing through the Services, but it may not always be accurate or current. We provide no guarantee to the timeliness, accuracy or completeness of any information related to Digital Assets. You should independently verify all information before relying on it, and any decisions or actions taken based on such information are solely your responsibility and you assume all liability for any such decisions or actions.
15.4
L1CT Solutions Private Limited PROVIDES NO PROMISES, REPRESENTATIONS, OR WARRANTIES, WHETHER EXPRESS, IMPLIED, OR STATUTORY, INCLUDING, BUT NOT LIMITED TO, ANY WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, DATA ACCURACY, SYSTEM INTEGRATION, TITLE, NON-INFRINGEMENT, AND/OR QUIET ENJOYMENT. ANY SERVICES PROVIDED BY L1CT Solutions Private Limited ARE PROVIDED ON AN "AS IS" AND "AS AVAILABLE" BASIS. L1CT Solutions Private Limited DOES NOT MAKE ANY REPRESENTATIONS OR WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED, STATUTORY OR OTHERWISE, REGARDING THE CONTENTS OF THE SERVICES, INFORMATION, AND FUNCTIONS MADE ACCESSIBLE THROUGH THE SERVICES, ANY HYPERLINKS TO THIRD-PARTY WEBSITES, OR THE SECURITY ASSOCIATED WITH THE TRANSMISSION OF INFORMATION THROUGH THE SERVICES OR ANY WEBSITE LINKED TO THE SERVICES. L1CT Solutions Private Limited DOES NOT GUARANTEE THAT ACCESS TO THE SERVICES WILL BE CONTINUOUS, UNINTERRUPTED, TIMELY, OR ERROR-FREE. L1CT Solutions Private Limited ACKNOWLEDGES THAT IT MAKES NO WARRANTIES UNDER THIS AGREEMENT DIRECTLY FOR THE BENEFIT OF ANY END-USER AND THAT L1CT Solutions Private Limited’s OBLIGATIONS UNDER THIS AGREEMENT ARE FOR THE BENEFIT OF YOU ONLY, AND NOT FOR THE BENEFIT OF ANY OTHER PERSON. IN ENTERING INTO THIS AGREEMENT, YOU REPRESENT THAT YOU HAVE NOT RELIED UPON ANY REPRESENTATION OR WARRANTY OF L1CT Solutions Private Limited OR ITS AFFILIATES EXCEPT AS EXPRESSLY SET FORTH IN THIS AGREEMENT.
15.6 Limitation of Liability
(A) L1CT Solutions Private Limited is not responsible for any loss or injury resulting from your use of the Services. This includes any inaccuracies or incompleteness, delays, interruptions, errors, or omissions caused in whole or in part by L1CT Solutions Private Limited's negligence or events beyond its control. L1CT Solutions Private Limited will not be liable for any decision or action was taken by you based on the information provided by the Services.
(B) IN NO EVENT SHALL L1CT SOLUTIONS PRIVATE LIMITED, L1CT SOLUTIONS PRIVATE LIMITED, ITS AFFILIATES, AND SERVICE PROVIDERS, AS WELL AS THEIR RESPECTIVE OFFICERS, DIRECTORS, AGENTS, EMPLOYEES, OR REPRESENTATIVES, SHALL NOT BE LIABLE FOR ANY AMOUNT GREATER THAN THE VALUE, IN U.S. DOLLARS, OF THE DIGITAL ASSETS AT ISSUE IN THE CLAIM AT THE TIME OF THE TRANSACTION OR EVENT GIVING RISE TO THE CLAIM OR THEIR SUBSEQUENT VALUE (WHICHEVER IS LESSER). THEY ALSO SHALL NOT BE LIABLE FOR ANY LOST PROFITS OR ANY SPECIAL, INCIDENTAL, INDIRECT, INTANGIBLE, PUNITIVE, OR CONSEQUENTIAL DAMAGES, WHETHER BASED ON CONTRACT, TORT, NEGLIGENCE, STRICT LIABILITY, OR OTHERWISE, ARISING OUT OF OR IN CONNECTION WITH AUTHORIZED OR UNAUTHORIZED USE OF THE SERVICES, OR THIS AGREEMENT, EVEN IF L1CT SOLUTIONS PRIVATE LIMITED HAD BEEN ADVISED OF, KNEW OF, OR SHOULD HAVE KNOWN OF THE POSSIBILITY OF SUCH DAMAGES. IT IS IMPORTANT TO NOTE THAT SOME JURISDICTIONS DO NOT ALLOW THE EXCLUSION OR LIMITATION OF INCIDENTAL OR CONSEQUENTIAL DAMAGES, SO THE ABOVE LIMITATION MAY NOT APPLY TO SOME USERS BASED ON THEIR JURISDICTION OR GOVERNING LAW.
(C) THIS SECTION MEANS THAT L1CT SOLUTIONS PRIVATE LIMITED IS NOT OBLIGATED TO PROVIDE YOU WITH ANY DIGITAL ASSETS AS COMPENSATION FOR ANY DAMAGES, AND YOU ARE NOT ENTITLED TO ANY SPECIFIC PERFORMANCE OR SIMILAR REMEDIES. IF DAMAGES ARE CALCULATED BASED ON THE VALUE OF DIGITAL ASSETS, THE CALCULATION WILL BE BASED ON THE LOWEST VALUE OF THE DIGITAL ASSETS BETWEEN THE TIME THE CLAIM AROSE AND THE AWARD OF DAMAGES.
(D) WE WILL NOT BE HELD LIABLE FOR ANY DAMAGES CAUSED BY: (A) MALFUNCTIONS OR UNEXPECTED FUNCTIONING OF ANY COMPUTER OR CRYPTOCURRENCY NETWORK, (B) CHANGES IN CRYPTOCURRENCY VALUE, (C) CHANGES IN LAW, REGULATION, OR POLICY, OR (D) FORCE MAJEURE EVENTS SUCH AS ACTS OF GOD, FAILURE OR INTERRUPTION IN PUBLIC OR PRIVATE TELECOMMUNICATION NETWORKS, STRIKES, LOCK-OUTS, WARS, VIRUSES, MALWARE OR HACKING OF OUR SYSTEMS.
(E) THE LIABILITY LIMITATIONS OUTLINED IN THIS SECTION APPLY REGARDLESS OF WHETHER OTHER PARTS OF THE AGREEMENT HAVE BEEN BREACHED OR FOUND TO BE INEFFECTIVE.
15.7 We exclude all indemnities and warranties, whether express or implied, to the fullest extent permitted by law, except as set forth in this Agreement. However, nothing in this Agreement excludes or limits liability that cannot be limited or excluded under Applicable Law.
16 MISCELLANEOUS
16.1 You are solely responsible for determining and fulfilling any tax obligations that may arise from your use of L1CT Solutions Private Limited services. L1CT Solutions Private Limited is not responsible for determining the applicability of any taxes to your digital asset transactions or for collecting, reporting, withholding, or remitting any taxes related to your digital asset transactions.
16.2 A party's failure or delay to enforce any provision of this Agreement, whether in whole or in part, shall not be interpreted as a waiver of any rights.
16.3 If Company is unable to perform its obligations under this Agreement due to a Force Majeure Event, the Company shall not be considered in breach of the Agreement, and the User shall not be entitled to claim any damages or losses resulting from such non-performance.
16.4 If any provision of this Agreement is found to be unenforceable by a court of competent jurisdiction, it will not affect the validity or enforceability of the remaining provisions. The parties agree that the unenforceable provision shall be modified or replaced by a provision that is enforceable and which reflects the intent of the original provision to the fullest extent possible. The remaining provisions of this Agreement will continue to be valid and enforceable.
16.5 This Agreement binds your successors, heirs, personal representatives, and assigns. You cannot assign or transfer any rights or obligations under this Agreement without the prior written consent of L1CT Solutions Private Limited, which may be withheld at L1CT Solutions Private Limited’s sole discretion. L1CT Solutions Private Limited may assign rights or delegate duties under this Agreement at its sole discretion.
16.6 You and L1CT Solutions Private Limited are independent contractors and there is no partnership, joint venture, agency, consultancy, or trusteeship relationship created between the two parties under this Agreement.
16.7 This Agreement and any Supplemental Agreements form the complete and exclusive agreement between the parties and supersede all prior or contemporaneous agreements or representations, written or oral, concerning the subject matter of this Agreement.
16.8 For technical support, use the "Contact" link on the Menu bar. For other purposes, you can contact us by registered post or courier.
17 DISPUTE RESOLUTION FOR ALL USERS
17.1This Privacy Policy shall be governed by the laws of India. Any and all disputes arising under or in relation to this Privacy Policy shall be subject to the exclusive jurisdiction of courts in Bangalore, India.
17.2 Section 17 survives termination of the Services.
18 DEFINITIONS
“API” means application programming interface. For the avoidance of doubt, APT is not a Service and is governed by a separate agreement.
"Compliance Program" refers to the obligations set by L1CT Solutions Private Limited for gathering, verifying, documenting, and disclosing information about you when you access certain Services for the first time and on a continuous basis, either to manage our business risks or to comply with applicable legal requirements.
"Digital Assets" refers to any accepted digital assets, such as cryptocurrencies or tokens, but excludes derivatives of digital assets or securities as defined by applicable law.
“Eligible Reward Assets” means any Digital Assets eligible for transfer to the Wallet Reward Account, which shall be as published via the Services from time to time.
“Exchange” means the electronic trade execution system that is used for trading Digital Assets on the terms set forth in Section 9.
“Force Majeure Event” means any event beyond Company’s reasonable control, including but not limited to natural or man-made disasters, pandemic, epidemic, war, labour disputes, government actions, riots, power failures, and equipment or software malfunctions.
Short form: “Fork” refers to a change in the underlying protocol of a Digital Assets network, resulting in multiple versions of a Digital Asset, which may not be supported by L1CT Solutions Private Limited
“Hard Fork” means a permanent protocol divergence of a Digital Asset in a blockchain.
“Lockbox” means the electronic hardware key management device supported by the Wallet but provided by a third party as set forth in Section 7.
“Restricted Location” means any sanctioned country according to the up-to-date lists of the US Office of Foreign Assets Control (OFAC), the United Nations, the European Union, and any EU Member State, HM Treasury (UK), or equivalent authority.
“Services” means the products and services provided by L1CT Solutions Private Limited, including its website, mobile and desktop applications, platforms, Wallet, Swap, Lockbox, the Airdrop Program, Exchange, and APIs, but excluding the Margin product, which is exclusively governed by the Margin Agreement available at the exchange. L1CT Solutions Private Limited/legal/margin.
"Swap" refers to a service provided by L1CT Solutions Private Limited that enables the exchange of one Digital Asset for another Digital Asset or fiat currency on the terms specified in Section 6. The service is non-custodial in nature.
“Trading Account” means the functionality within the Wallet that permits you to buy and hold Digital Assets on a custodial basis with L1CT Solutions Private Limited.
"User Account" is an account created by a customer with L1CT Solutions Private Limited for the purpose of using the Exchange, Airdrop Program, Swap, and Trading Account. The User Account is not associated with a Wallet unless it is linked to one of these services or L1CT Solutions Private Limited's Wallet Reward Account.
“Wallet” is the software provided by L1CT Solutions Private Limited that enables users to hold, send, and receive Digital Assets, view transaction history, and manage network addresses, as described in Section 3 of the Agreement.
"Wallet Account" is an account opened by you with L1CT Solutions Private Limited, which provides access to your Wallet and Wallet Reward Account, if applicable. “Wallet Reward Account” means your Wallet Reward Account, opened by you with L1CT Solutions Private Limited, which resides within your Wallet Account.