Xstar.io TERMS OF SERVICE
Last Updated: October 12 2017
TERMS OF SERVICE
These Terms of Service and any terms expressly incorporated herein (“ Terms ”) apply to your access to, and use of, any services provided by XSTE LIMITED, (“Xstar,” “we,” “us” or “our”), including but not limited to our websites located at www.xstar.io (the “Site”) and mobile applications, our Hosted Wallet services, and the exchange services provided by us as described in these Terms (collectively, the “Services”). These Terms do not alter in any way the terms or conditions of any other agreement you may have with Xstar for products, services or otherwise. If you are using the Services on behalf of any entity, you represent and warrant that:
(a) such legal entity is duly organized and validly existing under the applicable laws of the jurisdiction of its organization, and
(b) you are authorized to accept these Terms on such entity’s behalf, and that such entity agrees to be responsible to us if you violate these Terms.
Xstar reserves the right to change or modify these Terms at any time and in our sole discretion. If Xstar makes changes to these Terms, we will provide notice of such changes, such as by sending you a notification, providing notice through the Services, and/or updating the “Last Updated” date at the top of these Terms. Your continued use of the Services will confirm your acceptance of the revised Terms. If you do not agree to the amended Terms, you must stop using the Services. We encourage you to frequently review the Terms to ensure you understand the terms and conditions that apply to your access to, and use of, the Services. If you have any question regarding the use of the Site, please contact us.
1. ELIGIBILITY, REGISTRATION AND ACCOUNT
Xstar may not make all of the Services available in all markets and jurisdictions, and may restrict or prohibit use of all or a portion of the Services from certain states, territories, or jurisdictions (“Restricted Locations”). At this time, Restricted Locations include, but are not limited to Iran, North Korea, Somalia, South Sudan, Sudan, United States of America.
The Services are intended solely for users who are 18 or older. You represent and warrant that you:
(a) are of legal age to form a binding contract (at least 18 years old.);
(b) have not previously been suspended or removed from using our Services;
(c) have full power and authority to enter into this agreement and in doing so will not violate any other agreement to which you are a party;
(d) are not located in, under the control of, or a national or resident of
(i) any Restricted Locations, or
(ii) will not use our Services if any applicable laws in your country
prohibit you from doing so in accordance with these Terms.
1.2 Number of accounts.
Xstar may, in its sole discretion, limit the number of Xstar Accounts that you may hold, maintain, or acquire.
1.3 Account information and security
In order to engage in any exchange transactions via the Services, you must create a Xstar Account and provide all of the required information that we request. By creating a Xstar Account, you agree to:
(a) create a strong password that you do not use for any other website or online service;
(b) provide accurate and truthful information;
(c) maintain and promptly update your Xstar Account information;
(d) maintain the security of your Xstar Account by protecting your password and restricting access to your Xstar Account;
(e) promptly notify us if you discover or otherwise suspect any security breaches related to your Xstar Account; and
(f) take responsibility for all activities that occur under your Xstar Account and accept all risks of any authorized or unauthorized access to your Xstar Account, to the maximum extent permitted by law.
2. General obligations to use the services
2.1 Conditions and Restrictions
Xstar may, at any time and in its sole discretion, refuse any exchange transaction or exchange bid submitted via the Services, impose limits on the exchange amount permitted via the Services or impose any other conditions or restrictions upon your use of the Services, without prior notice.
2.2 Accuracy of information
You must provide any information required when creating a Xstar Account or when prompted by any screen displayed within the Services. You represent and warrant that all information you provide via the Services is accurate and complete.
It is your sole responsibility to determine what, if any, taxes apply to the exchange transactions you complete via the Services, and it is your responsibility to report and remit the correct tax to the appropriate tax authority. You agree that we are not responsible for determining whether taxes apply to your trades or for collecting, reporting, withholding, or remitting any taxes arising from any trades.
2.4 Currency availability
Xstar retains the right, in its sole discretion, to include a Virtual Token on the Site, and may remove any Virtual Token from the Site at any time for any reason. Unless otherwise required by law or law enforcement, Xstar will make reasonable efforts to notify you of the likely removal of a Virtual Token, and give you reasonable time to push the amounts remaining in your Xstar Account associated with such Virtual Token to your External Virtual Token Address. Xstar will not be liable to you for any losses, liability or expenses related to the removal of a Virtual Token.
You are solely responsible for the accuracy of the External Virtual Token Address that you provide, and Xstar shall not be liable for sending Virtual Token from your Hosted Wallet to an incorrect External Virtual Token Address if that address matches the address you provided to us.
When you request that we send Virtual Token to your External Virtual Token Address from your Account, you authorize Xstar to execute such transaction using your Hosted Wallet via the Services.
4. Electronic Trading
4.1 Underlying Software and Networks of Listed Tokens
By using the Services, you acknowledge and agree:
(i) that except token issued by Xstar itself, Xstar is not responsible for operation of the underlying software and networks that support Tokens listed in Xstar and that Xstar makes no guarantee of functionality, security, or availability of such software and networks; and
(ii) that the underlying protocols are subject to sudden changes in operating rules (a/k/a “Forks”), and that such Forks may materially affect the value, function, and/or even the name of the Tokens you store in your Account. In the event of a Fork, you agree that Xstar may temporarily suspend the Services (with or without advance notice to you) and that Xstar may, in its sole discretion,
(a) configure or reconfigure its systems or
(b) decide not to support (or cease supporting) the Forked network entirely, provided, however, that you will have an opportunity to withdraw Tokens on at least one of still existent underlying networks.
You acknowledge and agree that Xstar assumes absolutely no responsibility whatsoever in respect of any underlying software protocols, whether Forked or not.
4.2 Unusual Trading Activities and Xstar’s Rights
Xstar may refuse to execute a trade, impose trade amount limits or restrictions at any time in its sole discretion without notice. Specifically, Xstar reserves the right to refuse to process, or the right to cancel or reverse, any transaction or disable a User’s deposit address on the Platform where Xstar suspects the transaction involves money laundering, terrorist financing, fraud, or any other type of crime or if Xstar suspects the transaction relates to a prohibited use as stated in our Terms, including transactions involving the opening of an Account and subsequent closure without any actual trading occurring. Xstar provides deposit Accounts to enable trading using the Services and does not allow Users to use such Accounts as a web wallet or address changing service. We reserve the right to halt deposit and withdrawal activity at our sole discretion. While Xstar may in its discretion reverse a trade, a User may not change, withdraw, or cancel its authorization to make a transaction, except with respect to partially filled orders.
Xstar may correct, reverse, or cancel any trade impacted by an error in processing your purchase or otherwise. Your remedy in the event of an error will be limited. You may seek to cancel your order or obtain a refund of any amounts charged to you, although we cannot guarantee such cancellations or refunds will always be possible.
5. Risk Disclosure
There are risks associated with utilizing an Internet-based trading system including, but not limited to, the failure of hardware, software, Internet connections and DDOS attacks. You agree that we shall not be responsible for any communication failures, disruptions, errors, distortions, or delays you may experience when trading via the Services, however caused.
6.1 Amount of Fees
You agree to pay Xstar the fees for exchanges completed via our Services (“Fees”) as made available via the fee schedule on our website. (“ Fee Schedule ”), which we may change from time to time. Any changes to the Fee Schedule will become effective as of the expiration of such notice period. The revised Fee Schedule will apply to any trades that take place following the effective date of such revised Fee Schedule.
6.2 Payment of Fees
You authorize us, or our designated payment processor, to charge or deduct funds from your Hosted Wallet for any applicable Fees owed in connection with exchange transactions you complete via the Services.
7. Electronic notices
7.1 Consent to Electronic Delivery
You consent to receive electronically all communications, agreements, documents, receipts, notices, and disclosures (collectively, “Communications”) that Xstar provides in connection with your Account, Hosted Wallet, and/or use of the Services. You agree that Xstar may provide these Communications to you by posting them via the Services, by emailing them to you at the email address you provide, and/or by sending an SMS or text message to a mobile phone number that you provide. Your carrier's normal, messaging, data, and other rates and fees may apply to any mobile Communications. You should maintain copies of electronic Communications by printing a paper copy or saving an electronic copy.
7.2 Updating Contact Information
It is your responsibility to keep your email address and/or mobile phone number on file with Xstar up to date so that Xstar can communicate with you electronically. If we send you an electronic Communication but you do not receive it because your email address or mobile phone number on file is incorrect, out of date, blocked by your service provider, or you are otherwise unable to receive electronic Communications, we will be deemed to have provided the Communication to you. If your email address or mobile phone number becomes invalid such that electronic
Communications sent to you by Xstar are returned, we may deem your account to be inactive, and you may not be able to complete any transaction via our Services until we receive a valid, working email address or mobile phone number from you.
8. Use the Services Legally
When accessing or using the Services, you agree that you will not violate any law, contract, intellectual property or other third-party right, or commit a tort,and that you are solely responsible for your conduct while using our Services. Without limiting the generality of the foregoing, you agree that you will not:
(a) Use our Services in any manner that could interfere with, disrupt, negatively affect, or inhibit other users from fully enjoying our Services, or that could damage, disable, overburden, or impair the functioning of our Services in any manner;
(b) Use our Services to pay for, support, or otherwise engage in any illegal gambling activities; fraud; money-laundering; or terrorist activities; or other illegal activities;
(c) Use any robot, spider, crawler, scraper, or other automated means or interface not provided or permitted by us to access our Services or to extract data;
(d) Use or attempt to use another user’s account without authorization;
(e) Attempt to circumvent any content filtering techniques we employ, or attempt to access any service or area of our Services that you are not authorized to access;
(f) Introduce to the Services any malware, virus, trojan worms, logic bombs, or other harmful material;
(g) Develop any third-party applications that interact with our Services without our prior written consent, or unless otherwise agreed;
(h) Provide false, inaccurate, or misleading information;
(i) Post content or communications that are, in our sole discretion, libelous, defamatory, profane, obscene, pornographic, sexually explicit, indecent, lewd, vulgar, suggestive, harassing, hateful, threatening, offensive, discriminatory, bigoted, abusive, inflammatory, fraudulent, deceptive or otherwise objectionable;
(j) Post content containing unsolicited promotions, political campaigning, or commercial messages (SPAM) or any chain messages or user content designed to deceive or trick the user of the Service;
(k) Encourage or induce any third party to engage in any of the activities prohibited under this Section.
9. Ownership of Tokens
You hereby certify to us that any Tokens used by you in connection with the Platform are either owned by you or that you are validly authorized to carry out transactions using such Tokens, and that all transactions initiated with your Account are for your own and not on behalf of any other person or entity.
10. Intellectual Property Rights
Unless otherwise indicated by us, all copyright and other intellectual property rights in all content and other materials contained on our website or provided in connection with the Services, including, without limitation, the Xstar logo and all designs, text, graphics, pictures, information, data, software, sound files, other files, and the selection and arrangement thereof (collectively, “ Xstar Materials ”) are the proprietary property of Xstar or our licensors or suppliers and are protected by Hong Kong and international copyright laws and other intellectual property rights laws.
We hereby grant you a limited, nonexclusive, non-assignable, and non-sublicensable license to access and use the Xstar Materials for your personal or internal business use. Such license is subject to these Terms and does not permit :
(a) any resale of the Xstar Materials;
(b) the distribution, public performance or public display of any Xstar Materials;
(c) any modification or other making of any derivative uses of the Xstar Materials, or any portion thereof; or
(d) any use of the Xstar Materials other than for their intended purposes. The license granted under this Section will automatically terminate if we suspend or terminate your access to the Services.
“Xstar,” the Xstar logo, and any other Xstar product or service names, logos, or slogans that may appear on our Services are trademarks of Xstar, in Hong Kong and in other countries, and may not be copied, imitated, or used, in whole or in part, without our prior written permission.
You shall not use any trademark, product or service name of Xstar without our prior written permission, including without limitation any metatags or other “hidden text” utilizing any trademark, product, or service name of Xstar. In addition, the look and feel of our Services, including all page headers,custom graphics, button icons, and scripts, is the service mark, trademark, and/or trade dress of Xstar and may not be copied, imitated, or used, in whole or in part, without our prior written permission. All other trademarks, registered trademarks, product names, and company names or logos mentioned through our Services are the property of their respective owners. Reference to any products, services, processes, or other information, by name, trademark, manufacturer, supplier, or otherwise does not constitute or imply endorsement, sponsorship, or recommendation by us.
11. Third-Party Content
In using our Services, you may view content provided by third parties (“Third-Party Content”). We do not control, endorse, or adopt any Third-Party Content and shall have no responsibility for Third-Party Content, including without limitation material that may be misleading, incomplete, erroneous, offensive, indecent, or otherwise objectionable. In addition, your business dealings or correspondence with such third parties are solely between you and the third parties. We are not responsible or liable for any loss or damage of any sort incurred as the result of any such dealings, and you understand that your use of Third-Party Content, and your interactions with third parties, is at your own risk.
12. Suspension; Termination; Discontinuance of Services
In the event of any Force Majeure Event (as defined in Section 19.3), breach of these Terms, or any other event that would make provision of the Services commercially unreasonable for Xstar, we may, in our discretion and without liability to you, with or without prior notice, suspend your access to all or a portion of our Services. We may terminate your access to the Services in our sole discretion, immediately and without prior notice, and delete or deactivate your Xstar Account and all related information and files in such account without liability to you, including, for instance, in the event that you breach any term of these Terms. In the event of termination, we will attempt to return any Virtual Token stored in your Hosted Wallet. Further, we may, in our sole discretion and without liability to you, with or without prior notice and at any time, modify or discontinue, temporarily or permanently, any portion of our Services.
13. Disclaimer of Warranties
TO THE MAXIMUM EXTENT PERMITTED UNDER APPLICABLE LAW, AND EXCEPT AS EXPRESSLY PROVIDED TO THE CONTRARY IN A WRITING BY US, OUR SERVICES AND SITE MATERIALS ARE PROVIDED ON AN “AS IS” AND “AS AVAILABLE” BASIS AND WE EXPRESSLY DISCLAIM, AND YOU WAIVE, ALL WARRANTIES OF ANY KIND, WHETHER EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE AND NON-INFRINGEMENT AS TO OUR SERVICES, INCLUDING THE INFORMATION, CONTENT AND XSTAR MATERIALS CONTAINED THEREIN. XSTAR DOES NOT REPRESENT OR WARRANT THAT MATERIALS IN THE SITE OR THE SERVICES ARE ACCURATE, COMPLETE, RELIABLE, CURRENT OR ERROR-FREE. XSTAR DOES NOT REPRESENT OR WARRANT THAT THE SERVICES ARE FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS.
YOU ACKNOWLEDGE THAT INFORMATION YOU STORE OR TRANSFER THROUGH OUR SERVICES MAY BECOME IRRETRIEVABLY LOST OR CORRUPTED OR TEMPORARILY UNAVAILABLE DUE TO A VARIETY OF CAUSES, INCLUDING SOFTWARE FAILURES, VIRUSES OR OTHER HARMFUL MATERIALS, PROTOCOL CHANGES BY THIRD PARTY PROVIDERS, INTERNET OUTAGES, FORCE MAJEURE EVENT OR OTHER DISASTERS, SCHEDULED OR UNSCHEDULED MAINTENANCE, OR OTHER CAUSES EITHER WITHIN OR OUTSIDE OUR CONTROL. YOU ARE SOLELY RESPONSIBLE FOR BACKING UP AND MAINTAINING DUPLICATE COPIES OF ANY INFORMATION YOU STORE OR TRANSFER THROUGH OUR SERVICES.
You agree to defend, indemnify, and hold harmless Xstar and our affiliates, independent contractors and service providers, and each of our respective officers, directors, members, employees, agents, and affiliates (collectively, “Indemnified Parties”) from any claim, demand, action, damage, loss, cost or expense, including without limitation reasonable attorneys’ fees, arising out or relating to
(a) your use of, or conduct in connection with, our Services;
(b) any Feedback you provide;
(c) your violation of these Terms; or
(d) your violation of any rights of any other person or entity.
THE INDEMNIFIED PARTIES SHALL HAVE NO LIABILITY FOR, AND YOU RELEASE THE INDEMNIFIED PARTIES FROM, ALL DAMAGES, COSTS AND LIABILITIES ARISING FROM OR RELATED TO YOUR USE OR INABILITY TO USE THE SERVICES OR XSTAR MATERIALS, INCLUDING WITHOUT LIMITATION ANY DIRECT, INDIRECT,INCIDENTAL, CONSEQUENTIAL, ECONOMIC, SPECIAL OR PUNITIVE DAMAGES OR DAMAGES FOR LOSS OF DATA, EVEN IF AN INDEMNIFIED PARTY HAS BEEN ADVISED OF THE POSSIBILITY O SUCH DAMAGES. IN NO EVENT SHALL THE AGGREGATE LIABILITY OF THE INDEMNIFIED PARTIES, WHETHER IN CONTRACT, WARRANTY, TORT (INCLUDING NEGLIGENCE, WHETHER ACTIVE, PASSIVE OR IMPUTED), PRODUCT LIABILITY, STRICT LIABILITY OR OTHER THEORY, ARISING OUT OF OR RELATING TO THE USE OF OR INABILITY TO USE THE SERVICES AND/OR CONTENT EXCEED THE FEES PAID BY YOU TO XSTAR DURING THE 1 MONTHS IMMEDIATELY PRECEDING THE DATE OF ANY CLAIM GIVING RISE TO SUCH LIABILITY.
The foregoing disclaimer of warranties, disclaimer of certain damages and limitation of liability will apply to the maximum extent permitted byapplicable law.
15. Attacks on Blockchain Networks
Xstar does not have any ability to prevent or mitigate attacks on blockchain networks. With respect to its platform, Xstar reserves the right to take the following commercially reasonable actions in the event of an attack:
(i) If Xstar is able to confirm that a Token active on the Platform has been compromised or is under attack, Xstar may immediately halt trading, deposits, and withdrawals for such Token;
(ii) if it is determined that such an attack caused the Token to greatly decrease in value, Xstar may discontinue trade activity on such Token entirely. Xstar does not have any obligation to engage in activity in relation to attacks on blockchain networks.
Decisions concerning deposits, withdrawals, and User balances for an attacked Token will be determined on a case-by-case basis by Xstar in its sole discretion. Xstar is not liable for any lost value of yours caused by the attack.
16. Anti-Money Laundering(AML) & Know Your Customer (KYC) Policy
Xstar protects itself from involvement in any activity that facilitates money laundering or other criminal activities by following policies and guidance in various jurisdictions Xstar operates in, as well as the utilization of 3rd party identity verification and authentication services. If a User or a User’s transaction is flagged as suspicious through our internal controls, Xstar will require additional proof of identification from the User and has the right to not permit any trades, deposits, and/or withdrawals until additional and verifiable proof of identity satisfactory to Xstar in its sole discretion is received and Xstar has approved the User for use of the Platform.
By agreeing to our Terms, you acknowledge and understand that Xstar maintains verification tier system which require User participation and verification in order to obtain, with leveled permissions based on User-supplied information, our ability to verify it, and our internal policies. You accept that you may not be able to achieve a desired tier of verification, and Xstar reserves the right to determine, at its sole discretion, the appropriate verification tier and criteria for any User, as well as the right to downgrade Users without prior notice. Xstar may, from time to time, implement policies restricting verification levels and criteria by nationality, country of residence, or any other factor. This may affect your ability to withdraw Tokens and you agree to indemnify, defend and hold harmless Xstar against any losses associated with an inability to deposit and/or withdraw Tokens based on the verification tier assigned by Xstar to your Account.
17. Dispute Resolution
PLEASE READ THE FOLLOWING PARAGRAPH CAREFULLY BECAUSE IT REQUIRES YOU TO ARBITRATE DISPUTES WITH XSTAR AND LIMITS THE MANNER IN WHICH YOU CAN SEEK RELIEF FROM XSTAR.
a) Dispute Resolution.
i. Negotiation between Parties. The parties agree to negotiate in good faith to resolve any dispute between them regarding this Agreement. This procedure shall be a prerequisite before taking any additional action hereunder.
ii. Arbitration. In the event the parties are unable to settle a dispute between them regarding this Agreement in accordance with subsection (i) above, such dispute shall be referred to and finally settled by arbitration at the Hong Kong International Arbitration Centre in accordance with the Rules of Arbitration of the International Chamber of Commerce (“ICC Rules”) in effect, which rules are deemed to be incorporated by reference into this subsection (ii), subject to the following:
(i) the arbitration tribunal shall consist of three arbitrators to be appointed according to the ICC Rules; and
(ii) the language of the arbitration shall be English.
The prevailing party shall be entitled to reasonable attorney’s fees, costs and necessary disbursements in addition to any other relief to which such party may be entitled.
ARBITRATION PREVENTS YOU FROM SUING IN COURT OR FROM HAVING A JURY TRIAL.
(b) You and Xstar agree:
WHETHER THE DISPUTE IS HEARD IN ARBITRATION OR IN COURT, YOU AND XSTAR WILL NOT COMMENCE AGAINST THE OTHER A CLASS ACTION, CLASS ARBITRATION OR OTHER REPRESENTATIVE ACTION OR PROCEEDING.
You AND XSTAR HEREBY EXPRESSLY WAIVE JURY TRIAL
18. Applicable Law
Xstar is based in Hong Kong and our Services are subject to Hong Kong law. We make no representations or warranties that the Services or Xstar Materials are appropriate or available for use in other locations. If you choose to access or use the Services and Xstar Materials from the Restricted Locations defined in Section 1.1, you do so at your own risk and are responsible for compliance with all applicable laws, rules and regulations.
Our failure or delay in exercising any right, power, or privilege under these Terms shall not operate as a waiver thereof.
The invalidity or unenforceability of any of these Terms shall not affect the validity or enforceability of any other of these Terms, all of which shall remain in full force and effect.
19.3 Force Majeure Events
We shall not be liable for
(a) any inaccuracy, error, delay in, or omission of
(i) any information, or
(ii) the transmission or delivery of information; or
(b)any loss or damage arising from any event beyond our reasonable control, including but not limited to flood, extraordinary weather conditions, earthquake, or other act of God, fire, war, insurrection, riot, labor dispute, accident, action of government, communications, power failure, or equipment or software malfunction, or any other cause beyond our reasonable control (each, a “ Force Majeure Event ”).
You may not assign or transfer any of your rights or obligations under these Terms without prior written consent from us, including by operation of law or in connection with any change of control. We may assign or transfer any or all of its rights under these Terms, in whole or in part, without obtaining your consent or approval.
Headings of sections are for convenience only and shall not be used to limit or construe such sections.
Sections 1, 3, 5, 6, 10，13, 14, 17, 18, and this Section 19 shall survive any termination or expiration of these Terms.
19.7 Entire Agreement; Order of Precedence
These Terms contain the entire agreement, and supersede all prior and contemporaneous understandings between the parties regarding the Services. These Terms do not alter the terms or conditions of any other electronic or written agreement you may have with Xstar for the Services or for any other Xstar product or service or otherwise. In the event of any conflict between these Terms and any other agreement you may have with Xstar, the terms of that other agreement will control only if these Terms are specifically identified and declared to be overridden by such other agreement.
19.8 Governing Language and Translations