Terms and Conditions of Use
These Terms and Conditions of Use (hereinafter referred to as the "Terms and Conditions") stipulate the matters that service users must comply with in order to use social trading of crypto currency and other related services provided by LOCK ON FZCO (hereinafter referred to as the "Company"), as well as the rights and obligations between the Company and service users. The following is a list of the rights and obligations between the Company and service users of the service. All service users of our services must read this agreement in its entirety before agreeing to it. Those who register for our service shall be deemed to have agreed to these Terms and Conditions.
Article 1. Application
- The purpose of this Agreement is to define the rights and obligations between the Company and the service users (defined in Article 2) regarding the use of the Service (defined in Article 2), and applies to all relationships between the service users and the Company regarding the use of the Service.
- The rules and regulations regarding the Service that the Company post on our website (defined in Article 2) from time to time shall constitute a part of these Terms and Conditions.
Article 2. Definitions
The following terms used in this Agreement shall have the meanings set forth below
- "Intellectual Property Rights" means copyrights, patents, utility model rights, trademarks, design rights, data including transaction prices, etc. that can be obtained through various APIs, etc. developed or provided by the Company or its affiliates, documents including contents such as chat messages and the Company's e-mails, databases, websites, graphics, software, applications, programs, codes, etc. (including the right to acquire such rights or to apply for registration of such rights).
- "Our Website" means the website operated by us whose domain is "lockon.finance". The Website may be opened on any device. If the domain or content of our website changes for any reason, this includes the website after such change.
- "Prospective Registrant" means a "prospective registrant" as defined in Section 3.
- "User" means an individual or legal entity that has been service as a user of the Service in accordance with Article 3.
- "Service" means the crypto currency investment service under the name of Defi service "LOCKON" (including the name after the change) and other related services (including the service after the change if the name or content of the service is changed for any reason whatsoever) provided by the Company. (including the service after such change in the name or content of the service for any reason whatsoever).
- "Service Agreement" means a contract for the use of the Service between the Company and a service user pursuant to Article 3 and in accordance with the various provisions of the Terms and Conditions.
Article 3. Service Usage
- The service applicant represents and warrants that he/she does not fall under any of the following items, past or present, and will not fall under any of the following items in the future.
- Antisocial forces, etc. (meaning organized crime groups, members of organized crime groups, quasi-constituents of organized crime groups, companies affiliated with organized crime groups, general assemblymen, social movement advocacy groups, special intelligence groups, etc., and other similar persons. (The same shall apply hereinafter).
- The applicant cooperates or participates in the maintenance, operation, or management of antisocial forces, etc., through the provision of funds or otherwise, or otherwise interacts or participates in any way with antisocial forces, etc.
- The service user represents and warrants that he/she does not fall into any of the following categories.
- If the service user is under 18 years of age or has not reached the age of majority in his/her place of residence
- If the Company determines that the service user is, or has been within the past 5 years, an anti-social force, or is involved in any interaction or involvement with anti-social forces, such as cooperating or participating in the maintenance, operation, or management of anti-social forces, through funding or otherwise
- If the Company determines that the service user is engaging in or has engaged in any of the activities listed in Article 5
- The service user resides in a country or region where the Company does not provide this service, or where the Company is unable to provide this service due to conditions of our own choosing
- The service user is a U.S. resident or U.S. taxpayer
- The service user is a Dubai, Iran, Syria, North Korea, or Iraq resident
- The service user resides in a country or region where the use of this website is illegal
- The service user is subject to any regulation
- The service user is sanctioned
- The service user has any transactions with regulated or sanctioned persons or organizations.
- In any other cases where the Company deems the service user is not appropriate to continue to use the service
- The service user uses a virtual private network ("VPN") or other similar technological means to conceal or obfuscate service user's actual physical location or status as a U.S. person, restricted person, or sanctioned person
Article 4. Fees and Payment Methods
- In using the Service, the service user shall pay the service usage fee set forth in the "Fee Schedule" separately stipulated by the Company.
Article 5. Prohibited Acts
- The service users shall not engage in any of the following acts when using the Service.
- Infringing the intellectual property rights or portrait rights of the Company, other users of the Service, or any third party (including acts that directly or indirectly cause such infringement)
- Commercial use or reproduction to a third party of any intellectual property rights, including copyrights, or portrait rights held by the Company without the Company's prior consent.
- Infringement on the privacy rights, reputation, or other rights or interests of the Company, the Company's affiliates, other persons related to the Company, other users of the Service, or other third parties (including acts that directly or indirectly cause such infringement).
- Acts of fraud, establishment or solicitation of pyramid schemes, etc., purchase or sale of illegal goods or services, transfer of proceeds from a crime, or use of the Service based on such acts.
- Actions related to criminal acts or actions that offend public order and morals.
- Transmitting information regarding relationships with the opposite sex.
- Solicitation of other service users, such as distribution of advertisements (except when approved by the Company)
- Violation of laws, regulations, or internal rules of the Company or the industry association to which the service userbelongs.
- Actions that constitute or attempt to constitute double transfer of crypto currency.
- Transmission of information containing computer viruses or other harmful computer programs, or acts that destroy or interfere with the functions of systems, servers, networks, or other functions managed by the Company, or unnecessarily place excessive burdens on them.
- To take advantage of errors, bugs, security holes, or other defects in the systems, servers, networks, or other functions related to this service or managed by the Company.
- Falsifying information that can be used for this service.
- Transmitting data in excess of a certain data volume specified by the Company.
- Acts that may interfere with the Company's operation of the Service.
- Act to intentionally steal the assets of the service users, the Company, or the Company's affiliates through replay attacks (replay attacks), etc.
- Acts of spreading rumors or falsehoods, using deception or force to damage the Company's credibility, or acts of extortion.
- Multiple users using a single account, or allowing a third party other than the service user to use the account.
- Using information obtained through the use of the Service, etc. to provide services identical ((including, but not limited to, copy trading, social trading, mirror trading, and providing INDEX using crypto assets)) or similar to the Service to a third party, or to have a subsidiary or other third party under one's control provide such services to a third party, unless prior written consent has been obtained from the Company.
- Any other acts that the Company deems inappropriate.
- If the Company determine that the service user of the Service falls under any of the items of the preceding paragraph, or is likely to fall under any of the items, the Company may, at our discretion and without prior notice to the service user, delete all or part of the information sent by the service user, or delete or suspend the account of the service user. In such cases, the Company may take measures such as deleting all or part of the information sent by the service user, or denial of the access from the account of the service user. shall not be liable for any damages incurred by the service user as a result of actions taken by us in accordance with this section.
- In the event of any of the actions described in Paragraph 1 above, the Company may charge the service user a penalty fee as determined by the Company.
Article 6. Suspension of the Service
- In any of the following cases, the Company may, without prior notice to the service user, suspend or discontinue the Service, in whole or in part, for any or all of the Users.
- In the event of periodic or emergency inspection or maintenance of computer systems related to the Service.
- In the event of an accidental shutdown of computers, communication lines, etc.
- In the event of force majeure, such as fire, power outages, natural disasters, wars, political upheavals, strikes, changes in laws and regulations, or sudden changes in legal or crypto currency conditions that make it impossible to operate this service
- In the event of theft of the Company's assets through hacking or other methods
- In the event of malfunction of the trading system or other systems necessary for the provision of the Service
- In the event of an investigation into unauthorized use of accounts, etc.
- In the event of when the Company deems it necessary to conduct an investigation in accordance with laws and regulations, internal rules of our company or industry associations to which the service user belongs, or our company's rules, etc.
- In the event of when the Company determine that the money or crypto currency in the service user's account is related to criminal proceeds or is suspected of being related to criminal proceeds
- In the event of when the liquidity of the crypto currency has declined significantly
- In the event of when the Company deem it impossible to continue providing the service due to changes in laws, regulations, policies, social conditions, etc.
- In any other cases where the Company deem it necessary to suspend or discontinue the service.
- For our own reasons, the Company may terminate provision of the Service without prior notice to service users. In such cases, the Company shall notify the service user in advance.
- In no event shall this company be liable for any damages incurred by the service user based on actions taken by this company in accordance with this article.
Article 7. Ownership of Rights
- All ownership and intellectual property rights to the Company's website and the Service belong to the Company or the party that has granted a license to the Company, and permission to use the Service as stipulated in these Terms and Conditions shall mean permission to use the intellectual property rights of the Company or the party that has granted a license to the Company regarding the Company's website or the Service. The permission to use the Service based on registration under these Terms and Conditions does not imply a license to use the intellectual property rights of the Company or the licensor of the Company's website or the Service. The service user shall not, for any reason whatsoever, engage in any conduct (including but not limited to disassembly, decompilation, and reverse engineering) that may infringe upon the intellectual property rights of the Company or any party that has granted a license to the Company. The service user shall not do any of the following.
- The text, images, videos, and other data posted or transmitted by service users on the Company's website or the Service may be freely used (including reproduction, copying, modification, sublicensing to a third party, and any other use) by the Company without compensation. (including reproduction, copying, modification, sublicensing to third parties, and any other use) free of charge.
Article 8. Disclaimer of Warranty and Disclaimer of Liability
- The Company provides service users with the opportunity to disclose information on crypto currency trading and to imitate portfolios, and does not assume any warranty or responsibility (including liability for defects) for the results of disclosing information on crypto currency trading and imitating portfolios. Furthermore, even if a service user obtains information about the Service or other service users directly or indirectly from the Company, the Company shall not provide any warranty to the service user beyond what is stipulated in these Terms and Conditions.
- In the event that the service user or a third party suffers damages as a result of such events as the imitation or cancellation of portfolios, the Company shall not be liable for any damages incurred. In addition, the service user understands and agrees in advance that there is a possibility of unintended transaction results due to the tokens handled, market conditions, and other factors. The Company shall not be liable for any loss or damage incurred by the service user or any third party as a result of the transaction.
- Service users shall investigate, at their own responsibility and expense, whether or not the use of the Service violates any laws, regulations, or internal rules of any industry organization applicable to the service users, and the Company makes no warranty that the use of the Service by service users complies with such laws, regulations, or internal rules of any industry organization applicable to the service users. The Company makes no warranty that the use of the Service by service users will conform to applicable laws, regulations, internal rules of industry associations, etc.
- Any transactions, communications, disputes, etc. between a service user and another service user or a third party in connection with the Service or our website shall be handled and resolved at the service user's responsibility, and the Company shall not be liable for any such matters.
- Service users shall use the Service and the Company's website at their own risk. The Company do not guarantee the adequacy or compatibility of our website and services with the computer equipment and environment of service users.
- The Company shall not be liable for any interruption, suspension, termination, unavailability, or modification of the Service by us, deletion or loss of messages or information of service users, cancellation of registration of service users, loss of data or breakdown or damage to equipment due to use of the Service, or any other damages suffered by service users in connection with the Service. The Company shall not be liable to compensate for any damages incurred by service users in connection with the Service.
- Even if our website provides links to other websites or links from other websites to our website, the Company shall not be liable for any website other than our website or information obtained from such website for any reason whatsoever.
- The Company may restrict or limit transactions at its discretion for legal or security reasons, or to prevent or investigate unusual or fraudulent transactions, and the Company shall not be liable for any direct or indirect losses incurred as a result of such restrictions or limitations.
- The Company will not be liable for any direct or indirect loss or damage caused by laws, ordinances, regulations, rules, orders, notices, ordinances, guidelines, or other restrictions on crypto currency (hereinafter referred to as "laws, ordinances, etc.") or related tax regulations, including sales tax. The Company shall not be liable for any loss or damage incurred by service users due to future changes in laws, ordinances, regulations, rules, orders, notices, ordinances, guidelines, or other regulations ("Laws and Regulations, etc.") or related taxation systems, including consumption tax.
- The Company shall not be liable for any damages incurred by service users as a result of future changes to laws and regulations regarding cryptocurrency or related taxation, including consumption tax, even if such changes are retroactive.
- The Service may operate on one or more public blockchains, including the Polygon blockchain and/or the Ethereum blockchain, however the Company does not own or control such blockchains or the underlying infrastructure on which the Company operates. Any changes, malfunctions, or security flaws in public blockchains may materially affect the Service, and the Company shall have no liability to compensate the service user for any damages the service user may incur as a result of the effects of such public chains.
- The Company does not have access to private keys held by service users, and service users alone are responsible for safeguarding the private keys held by service users. The Company shall have no liability to compensate the service user for any permanent and irreversible denial of access to the digital assets stored at the associated wallet address should the service user lose control of the service user's private key.
- Smart contracts are subject to a variety of risks and may contain bugs or security vulnerabilities. These risks can negatively impact revenue or lead to the loss of digital assets contributed to the structured commodity trading strategies enabled through the service.While the Company works diligently to audit and test contracts in connection with internal and external audit vendors, the Company cannot guarantee that the smart contracts the Company employs or relies on in connection with the service will be free of defects.
- INDEX Token provided by The Company copies portfolios of crypto assets held by multiple addresses in baskets according to a predetermined strategy, targeting only crypto assets deemed appropriate by The Company. While the unique strategy ensures that the asset portfolios are copied with the lowest possible risk, it does not guarantee the user's benefit, including the results of past transactions. No warranty or liability of any kind (including liability for defects) is assumed for the results of the copying of assets.
- The Company is not engaged in the business of offering, selling, or trading in securities or other financial instruments and does not provide legal, tax, or investment advice. Any information provided in connection with the service user's access to and use of the Site of the Company is for informational purposes only and should not be construed as professional or investment advice. User understands and acknowledges that User is solely responsible for all actions taken using the Site of the Company and that all instructions entered by User are unsolicited and based on User's own investment decisions.The service users understand and acknowledge that the service users have not received and do not expect to receive any investment advice from us in connection with the service user's use of the Site of the Company and that service users are solely responsible for service user's use of the Site of the Company. Notwithstanding anything contained herein to the contrary, service users understand and acknowledge that the Company is not responsible and under no circumstances shall the Company be liable for any profits/losses resulting from the service user's decisions or the decisions of users. Service users further understand and acknowledge that under no circumstances shall the use of the Site be deemed to create a relationship involving the provision of investment advice or bidding.
Article 9. Dispute Resolution and Compensation for Damages
- Service users shall indemnify us for any damages (including, but not limited to, attorney's fees) for any violation of these Terms and Conditions or for any damage caused to us in connection with the use of the Service. The service user shall compensate the Company for such damages (including, but not limited to, attorney's fees).
- The Company shall not be liable for any damages incurred by the service user in connection with the Service. Even in the event that the Company is liable to a service user for damages notwithstanding the provisions of this paragraph or other provisions exempting the Company from liability for damages due to the application of the Consumer Contract Act or other reasons, the Company's liability for damages shall be limited to the total amount of fees actually received from the service user during the past one month from the time the damage occurred, up to the maximum amount of fees actually received from the service user during the past one month. The upper limit of our liability shall be the total amount of the Service usage fees actually received from the service user during the past one month from the time the damage occurred.
Article 10. Confidentiality
- "Confidential Information" herein means all information regarding the Company's technology, business, operations, finances, organization, and other matters provided or disclosed by the Company in writing, orally, or in recorded media, or otherwise known to the service user in connection with the Subscriber Agreement or the Service. However, (1) information that was or had been generally known to the public at the time it was provided or disclosed by us or had become known to the public, (2) information that became public knowledge through publications or other means after it was provided or disclosed by us or became known to the public for reasons not attributable to us, and (3) information that is held confidential by a third party authorized to provide or disclose it. (4) acquired legally from a third party authorized to provide or disclose the Confidential Information without being obligated to maintain confidentiality, (5) developed independently without the use of Confidential Information, or (6) confirmed in writing by the Company that confidentiality is not required.
- Service users shall use Confidential Information only for the purpose of using the Service, and shall not provide, disclose, or divulge the Company's Confidential Information to any third party without the Company's written consent.
- Notwithstanding the provisions of Paragraph 2, service users may disclose Confidential Information in accordance with any order, request, or demand of any law, court, or government agency. However, in the event of such order, request, or demand, service users must promptly notify us of such order, request, or demand.
- Whenever requested by the Company, service users shall, without delay and in accordance with the Company's instructions, return or destroy the Confidential Information, any documents or other recorded media containing or containing the Confidential Information, and all copies thereof.
Article 11. Term of Validity
During the term of provision of the Service, the Subscriber Agreement shall remain in effect between us and the service user from the date of completion of the service user's registration in accordance with Article 3 to the date of cancellation of the service user's registration.
Article 12. Modification of Terms and Conditions, etc.
- The Company shall be free to change the contents of the Service.
- The Company may modify the Terms and Conditions (including rules, regulations, etc. regarding the Service posted on the Company's website. The Company may change the Terms and Conditions (including rules and regulations regarding the Service posted on the Company's website; the same shall apply hereinafter in this paragraph). If the Company changes the Terms and Conditions, the Company shall notify the service user of such changes, and if the service uses the Service after the notification of such changes, or if the service user does not cancel the registration within the period specified by the Company, the service user shall be deemed to have agreed to the changes in the Terms and Conditions.
Article 13. Communications/Notices
Inquiries regarding the Service and other communications or notifications from service users to the Company, as well as notifications regarding changes to this Agreement and other communications or notifications from the Company to service users, shall be made in a manner determined by the Company.
Article 14. Assignment, etc. of this Agreement
- service users may not assign, transfer, grant a security interest in, or otherwise dispose of their position in the Service Agreement or their rights or obligations under the Service Agreement to any third party without prior written consent of the Company.
- In the event that the Company transfer the business related to the Service to another company, the Company may transfer all or part of the status of the user contract, rights and obligations under the Terms and Conditions, and service user registration information and other customer information to the transferee of such business transfer, and the service user agrees in advance in this paragraph to such transfer. service users shall be deemed to have agreed in advance to such transfer in this paragraph. The business transfer stipulated in this section shall include not only ordinary business transfers, but also corporate divestitures and any other cases in which business is transferred.
Article 15. Severability
If any provision of this Agreement or part thereof is determined to be invalid or unenforceable under the Consumer Contract Act or other laws or regulations, the remaining provisions of this Agreement and the remaining portions of any provision determined to be invalid or unenforceable in part shall remain in full force and effect, and neither the Company nor the service user shall be liable for any damages arising from the invalidity or unenforceability of such provision or portion. The Company and service users shall endeavor to modify such invalid or unenforceable provision or portion to the extent necessary to make it legal and enforceable, and to ensure that the intent, legal and economic effect of such invalid or unenforceable provision or portion is equivalent to the intent, legal and economic effect of the invalid or unenforceable provision or portion.
Article 16. Governing law and court of jurisdiction
These Terms and Conditions shall be governed by, construed and enforced in accordance with the laws of Dubai and shall be construed in all respects as a contract between the service user and Dubai. Similarly, any dispute, controversy, claim or action arising out of or relating to the service user's use of this Website or these Terms and Conditions shall be governed by the laws of Dubai, excluding its choice of law principles. For the avoidance of doubt and without limiting the generality of the foregoing, this provision expressly applies to any tort, contract or other claim against LOCK ON FZCO and its affiliates.
Article 17. Consultation and settlement
In the event that any matter is not stipulated in this Agreement or any question arises as to the interpretation of this Agreement, LOCK ON FZCO and the service user shall promptly resolve such a question through mutual consultation in accordance with the principle of good faith and faith.
Last updated: 06/08/2023