CTRLX TERMS OF USE

Latest Reviewed on: 04 September 2023

These Terms and Conditions ("Terms") are between ctrlX ("ctrlX", "we", "us", or "our") and you (together with ctrlX, the "parties" and individually, a "party") and relate to your use of our services.

Please read these terms carefully. These Terms govern your access to and use of the https://www.ctrlx.net/ site (the "Site") and ctrlX’s App (as defined below). By using the Site and/or the App (collectively, the "Service"), you agree to these Terms.

The Service is provided on a free of charge, 'as is', and 'as available' basis, and your use of the Service is at your own risk. Your attention is drawn, in particular, to the risks and responsibilities that you assume in relation to the Service, as described in Clause 4, and the exclusions of our liability set out in Clause 6 below.

Your use of the Site and the Service is also governed by ctrlX’s Privacy Policy and ctrlX’s Cookies Policy.
We may make changes to these Terms, the Privacy Policy, or the Cookies Policy from time to time. Every time you wish to use the Service, please check these Terms to ensure you understand the terms that apply at that time. Your continued use of the Site and Services constitutes acceptance of these changes.

2.1. Access to the Service is provided on a non-exclusive, free of charge, "as is", and "as available" basis only.

2.2. The App is currently in beta testing. Any use of the Service is entirely at your own risk.

2.3. ctrlX does not guarantee that the Service will always be available or that its use will be uninterrupted or error-free.

2.4. We may terminate, limit, or restrict access to the Site and the Service at any time without notice and for any reason. In no event do we have the ability to access or suspend your access to your own Wallet.

2.5. The App may involve accessing markets and interfaces allowing for Transactions of Tokens. To use the Service, you must already have a digital wallet that can store and transfer Tokens that are supported by the App ("Wallet"). As part of the Service, you may be able to monitor real-time movements of Tokens, track a portfolio of Tokens, and access certain supported decentralized protocols and decentralized applications through supported web browsers.

2.6. When a Wallet is created, a cryptographic private and public key pair is generated. The private and public key pair together evidence ownership/possession of a specific amount of supported Tokens in that Wallet which enables you to send and receive Tokens through a Blockchain network. The public key may be visible to all participants in such Blockchain network. The private key must be kept secret and used to transact the Tokens represented by the corresponding public key. In some instances, depending on what other services you have used to create a Wallet, you may receive a pin code, create a password, or establish another method of accessing your private key as a security or convenience measure. In those cases, your authentication method may function similarly to your private key in that it allows you and others in possession of such information to potentially transfer Tokens from your Wallet. ctrlX will never have access to Tokens in your Wallet, will not store your private key or similar methods of accessing your Wallet, and will never request this information.

2.7. When you request to make a Transaction via the App, you will be required to initiate a transfer from your Wallet’s interface (a "Transfer Initiation"). ctrlX is entitled to rely on the Transfer Initiation and has no duty to inquire into or investigate the validity or accuracy of any Transfer Initiation. You will be responsible for keeping your hardware devices, including your phone, secure and for any activity associated with such devices and your Wallet when using the Service. ctrlX will not be responsible if someone else accesses your devices and authorizes a transaction upon receipt of a valid Transfer Initiation.

2.8. We may make changes to the Service from time to time without notice, including, without limitation, the right to add or remove Tokens from the Service. The inclusion or removal of any particular Token does not constitute any form of endorsement of that Token by ctrlX.

You accept and agree as follows in relation to your use of the Service:

3.1. You will not use the Service for any purpose that does not comply with applicable law or infringes the rights (including intellectual property rights) of ctrlX or any other user.

3.2. You will not use the Service for commercial purposes (other than to facilitate Transactions with your customers, partners, employees, contractors, or suppliers) without our express written permission.

3.3. Subject to section 296A of the Copyright, Designs and Patents Act 1988, you will not decompile, disassemble, modify, or reverse engineer any code in respect of the Site or the App that you are provided access to, will not attempt to access any code that you are not provided access to, and you will not use the Service to build a competitive product, service, or function.

3.4. You will not engage in any conduct that restricts or inhibits anyone’s use of the Service (including anything that affects the security of any other user’s Wallet).

3.5. You will not use the Service in such a way which is harmful, fraudulent, deceptive, threatening, harassing, defamatory, obscene, or otherwise objectionable.

3.6. You will not attempt to gain unauthorized access to, interfere with, or damage the proper working of the Site or the App.

3.7. You will not access, or attempt to access, another user’s Wallet, private key, or other security information on any third-party service that provides access to such user’s wallet or private key on the Service.

3.8. You will not compromise, or attempt to compromise, the security of any computer network, or crack any passwords or encryption codes.

3.9. You will not use the Service in any manner which could disable, damage, or impair the Site, the App, or interfere with any other party’s use of the Service.

3.10. You will not knowingly introduce viruses, trojans, worms, logic bombs, or other material that is malicious or technologically harmful. You must not attempt to gain unauthorized access to the Site, the server on which the Site is stored, or any server, computer, or database connected to the Site. You must not attack the Site via a denial-of-service attack or a distributed denial-of-service attack. By breaching this provision, you would commit a criminal offense under the Computer Misuse Act 1990. ctrlX will report any such breach to the relevant law enforcement authorities, and we will cooperate with those authorities by disclosing your identity to them. In the event of such a breach, your right to use the Site will cease immediately.

You accept and agree as follows:

4.1. Any Smart Contract that you and any third party interact with is a private arrangement between you and that third party. ctrlX is not a party to any Smart Contract, does not act as an intermediary in relation to any Smart Contract or any Transaction, has no responsibility for verifying the identity of any party to any Smart Contract or Transaction, and has no responsibility in relation to any disputes relating to any Smart Contract or Transaction.

4.2. You should not use the Service if you do not have prior understanding of Blockchain technology and the risks and applicable compliance requirements of its use.

4.3. As the owner of the Tokens on the platform, you are solely responsible for all activities and Transactions which occur in connection with your use of the Service and your Wallet.

4.4. You are solely responsible for ensuring that your use of the Service, and the entering into of any Smart Contracts or Transactions, does not breach any applicable laws that apply to you.

4.5. You are solely responsible for informing yourself about the operation of the relevant software protocols that underpin any Tokens that you choose to use in Transactions.

4.6. Tokens may be ascribed value by third parties (either by way of a cash valuation or a valuation expressed in other Tokens). ctrlX has no control over any cryptocurrencies (including any Stablecoin) and is not responsible for any fluctuations in value, stability, or liquidity of any Tokens.

4.7. Delays in Transaction execution may arise from the inherent functioning of the Blockchain network through which your Transaction will be processed. ctrlX has no responsibility for any delay between the initial processing and execution of any Transaction, or for any error in or failure of any Transaction, no matter how such delays, errors, or failed transactions may arise.

4.8. ctrlX will have no ability to access, use, or exert any control over the Tokens that are locked within a Smart Contract, and the relevant owner of such Tokens will retain control of the Tokens through their private key. If you lose your private key, or control of the private key, you may not be able to recover or use your Tokens.

4.9. We have no control over any User’s Transaction, and we cannot cancel, undo, or reverse any Transaction initiated by you. We shall have no liability for any transactions which you may have executed (or attempted to execute), even by mistake.

4.10. ctrlX gives no guarantee as to the security of any Blockchain technology and is not liable for any hacks, double spending, stolen Tokens, or any other attacks on, or failures of, the Blockchain technology.

4.11. ctrlX does not have access to your Wallet or private key and cannot initiate a transfer of, or otherwise access, your Tokens. ctrlX is not acting as your broker, intermediary, agent, advisor, or custodian, and we do not have a fiduciary relationship or obligation to you regarding any other decisions or activities that you effect when using your Wallet or the Service.

4.12. The content and materials available when using the Service are for informational purposes only and do not constitute any form of advice or recommendation by us, should not be regarded as an offer, solicitation, invitation, or recommendation to buy or sell investments, securities, or any other financial services, and are not intended to be relied upon by you in making any specific investment or other decisions. We recommend you seek independent advice from a financial or investment advisor before making any such decision.

4.13. Where the Service contains links to other sites and resources provided by third parties, these links are provided for your information only. Such links should not be interpreted as approval by ctrlX of those linked websites or information you may obtain from them. We have no control over the contents of those sites or resources.

4.14. Internet transmissions are never fully private or secure. You understand that any information you send while using the Service may be read or intercepted by others, regardless of whether the transmission is encrypted. ctrlX shall not be responsible for any interception you may experience when using the Service, however caused.

4.15. ctrlX does not guarantee that the Service will be secure or free from viruses. You are responsible for configuring your information technology and systems to access the Site and the Service, and you should use your own up-to-date virus protection software.

4.16. The Service relies on the proper functioning of services or products provided by third parties, including, but not limited to, protocols, blockchain technology, smart contracts, blockchain networks, cloud service providers, and third-party applications or tools from time to time ("Third Party Services"). We do not control, endorse, or adopt any Third Party Services and have no responsibility for any Third Party Services. We cannot and will not monitor, verify, censor or edit the content of any Third Party Services. We are not responsible for any loss as a result of the use of Third Party Services, and such use is beyond our control and at your own risk. You are solely responsible for making yourself aware of any protocol 'forks', updates, failures, or hacks and taking appropriate action to safeguard yourself from their effects, if they occur.

5.1. All intellectual property rights in or arising out of or in connection with the Site, the App, and the Service, as well as all trademarks of ctrlX, shall remain the property of ctrlX.

5.2. Subject to your compliance with these Terms, ctrlX grants you a limited, non-transferable, non-exclusive license to use the Service.

5.3. You may not modify, publish, transmit, participate in the transfer or sale of, reproduce (except as necessary to receive the Service), or create derivative works based on the Site or the App.

5.4. You acknowledge and agree that the Service may use, incorporate or link to certain open-source components available under open-source licenses, and that your use of the Service is subject to, and you will comply with, any applicable open-source licenses that govern any such open-source components. Nothing in these Terms will be construed to limit any rights granted under such open-source licenses with respect to the components specifically covered by such licenses.

5.5. Any data or other content you upload to or submit using the Service will be considered non-confidential. You retain all of your ownership rights in your content, but when you upload or post content to our site, you grant us a perpetual, worldwide, royalty-free, transferable, non-exclusive license to use, copy, distribute, prepare derivative works of, display, and publish that data and content in any manner (including to promote the Site and Service).

6.1. These Terms are (to the fullest extent permitted by law) in lieu of and to the exclusion of any other warranty, condition, term, or undertaking of any kind (including those implied by law), statutory or otherwise, relating to the Service or anything to be done under or in connection with these Terms.

6.2. If you are not a consumer (i.e., using the Service in the course of business, trade, or profession), ctrlX shall not be liable to you, whether in contract, in tort (including negligence), for breach of statutory duty, or otherwise, arising under or in connection with these Terms for: (a) loss of profit; (b) loss of revenue; © loss of anticipated savings; (d) loss, destruction, or corruption of data; (e) loss of contract, business or opportunity; (f) loss of goodwill; and (g) wasted expenditure.

6.3. Subject to clause 6.2, in no event will we be liable for any claims, penalties, loss, damages, expenses, or harm arising out of or in connection with your use of the Service or in relation to any Transactions you execute (or attempt to execute).

6.4. You agree to indemnify and reimburse ctrlX for all costs, charges, damages, or losses which we may suffer in relation to your use of the Service, including in relation to (a) any content you may upload to the App or any interaction you may have with any other user of the App; and (b) any tax implications for which ctrlX may become liable as a result of your use of the Service.

Please see ctrlX’s Privacy Policyfor information on how ctrlX processes and stores Users' personal data.

For customer or technical support, please refer to the ctrlX Supporting Documentation for guidance. For all other queries (including any questions about these Terms), please contact us by mail [email protected]. We cannot guarantee immediate responses, especially during periods of high volume.

Third Party Rights — The Terms do not confer any rights on any person other than the parties to the Terms (and, where applicable, their successors and permitted transferees).

Use of Subcontractors — We may perform any of our obligations, and exercise any of the rights granted to us under the Terms, through a third party.

Assignment — We may transfer our rights and obligations under the Terms to any third party. You may only transfer your rights or obligations under the Terms to another person if we agree in writing.

Entire Agreement — The Terms constitute the entire agreement between the parties and supersede and extinguish all previous agreements, promises, assurances, warranties, representations, and understandings between them, whether written or oral, relating to its subject matter.