Grix - Terms of service
Last updated on November 20, 2024
Grix Foundation, a foundation company limited by guarantee incorporated in the Cayman Islands (“Grix”, “we”, “our”) welcomes you (the “User(s)”, or “you”) to app.grix.finance (the “Site”), a website that provides information and hosts a user interface (the “Interface”) to the Grix protocol, a decentralized protocol on the Ethereum Blockchain (and its Layer 2s) that provides an execution layer tool that can be used by users to instruct trade orders over DeFi protocols (the “Grix Protocol”). Each User may use the Site and/or Interface in accordance with, and subject to, the terms and conditions hereunder.
Acceptance of the Terms
By entering, connecting to, accessing or using the Site and/or the Interface, you acknowledge that you have read and understood the following Terms of Service (collectively, the “Terms”), and you agree to be bound by them and to comply with all applicable laws and regulations regarding your use of the Site and the Interface, and you acknowledge that these Terms constitute a binding and enforceable legal contract between Grix and you. IF YOU DO NOT AGREE TO THESE TERMS, PLEASE DO NOT ENTER, CONNECT TO, ACCESS OR USE THE SITE AND/OR INTERFACE IN ANY MANNER.
The Site and Interface are available only to individuals who (a) are at least eighteen (18) years old; and (b) possess the legal capacity to enter into these Terms (on behalf of themselves and their organization) and to form a binding agreement under any applicable law. You hereby represent that you possess the legal authority to enter into these Terms on your and (if applicable) your organization’s behalf and to form a binding agreement under any applicable law, to use the Site and the Interface in accordance with these Terms, and to fully perform your obligations hereunder.
For the avoidance of doubt, if you are acting on behalf of an organization, any act or omission performed by you in connection with the Site and/or Interface shall obligate your organization.
Please be advised that these Terms contain provisions, including an Agreement to Arbitrate, that govern how claims that you may have or assert against Grix are resolved, which will require the parties to submit claims they may have against one another to binding and final arbitration. Under the Agreement to Arbitrate, the parties will (1) only be permitted to pursue claims against each other on an individual basis, not as a plaintiff or class member in any class or representative action or proceeding and (2) only be permitted to seek relief (including monetary, injunctive, and declaratory relief) on an individual basis.
The Site, Interface and Protocol – Explanation and Certain Risk Factors
The Site and Interface do not offer the Protocol. The Protocol is a decentralized protocol on the Ethereum Blockchain (and its Layer 2s), and which may be accessed independently without use of the Site or the Interface.
These Terms relate solely to the Site and the Interface. Use of the Protocol and any activity thereon may be subject to additional terms located at https://github.com/grixprotocol.
YOUR USE OF THE PROTOCOL IS ENTIRELY AT YOUR OWN RISK.
On the Site, you will have the ability via the Interface to access the Protocol. More information about the Protocol is available here: https://docs.grix.finance/gitbook.
Decentralized Protocol
The Protocol is a decentralized smart contract running on the Ethereum blockchain (and its Layer 2s). The Interface provides an Interface to access the Protocol in a user-friendly manner. The Protocol was written and released by a group of developers, not by Grix Foundation. Grix was formed to promote the adoption of the Protocol, however Grix does not control the Protocol. By using the Interface, you acknowledge and recognize that use of the Protocol and deposit of cryptocurrencies or other digital assets in the Protocol is at your own risk and will be subject to the rules encoded within the Protocol, including as to when and on what terms any transactions may be executed, neither of which Grix can influence or has any control over.
Software Programs that the Protocol Interacts With
The Protocol interacts with certain software programs that were developed and may be operated by MC14 Labs Ltd., the initiator of the Protocol (“MC14”). Further information regarding such software programs is located at https://docs.grix.finance/gitbook. MC14 does not receive any consideration for the operation of such software programs. Therefore, such programs are provided on an as-is and where-is basis, without any representations or warranties of any kind.
Third-Party Protocols
The Protocol serves as an aggregator of various third-party DeFi options protocols and AMMs. The Protocol does not execute trades, rather it routes your trades to such third-party protocols. The third party protocols are not developed, controlled or monitored by Grix and Grix has no affiliation with them. Use of the third party protocols, and any losses that you may incur as a result of such use, is at your own risk and liability.
Rates
The Protocol attempts to locate the best rates for your trades. However, there is no guarantee that the Protocol will actually locate the best rates or that you will receive the best rates for your trades by routing them through the Protocol.
Governance
Certain aspects of the Protocol will be decided by a DAO or other decentralized governance arrangement. Such governance mechanisms may make changes to the Protocol from time to time, with or without notice, at its sole discretion. You are responsible for monitoring any communications or announcements regarding such changes, updates or upgrades, and ensuring that any continued use of the Protocol meets your needs and requirements.
Risk Disclosures Relating to Blockchain
By utilizing the Interface, you represent that you understand the inherent risks associated with cryptographic systems; and warrant that you have an understanding of the usage and intricacies of cryptographic tokens, digital assets, blockchains and other distributed and decentralized systems, and smart contracts. In particular, you are aware and recognize that any transactions conducted on a blockchain cannot be undone or reversed.
Information
The Site may contain information regarding the Protocol or particular instances of the Protocol. Such information is provided for informational purposes only, without any representation or warranty. Grix does not assume any responsibility or liability for the accuracy or inaccuracy of any such information. Before acting upon or making any decisions on the basis of such information, you are responsible to independently verify such information.
Fees
There are fees and costs associated with using the Protocol, a description of which can be found at https://docs.grix.finance/gitbook. Grix does not currently charge a fee for the use of the Interface. However, we reserve the right to do so in the future, and in such case shall display to you any applicable fees prior to you incurring the fee.
Solvers and Fillers
The Protocol relies on third party “Solvers” and “Fillers” that optimize the swapping and purchasing routes for users' orders. Grix and/or affiliated entities may also function as Solvers/Fillers on the network. There is no way of ensuring the availability of Solvers/Fillers on the network, and the Protocol may not function in the absence of sufficient Solvers/Fillers. Grix does not control and is not liable for any actions or omissions of the Solvers/Fillers or the results thereof.
Data Sources
Grix does not control the source of all data that is accessible via the Interface. The data layer of the Interface, known as “Argus” enables third parties to connect data sources and protocols to Argus, which data will then be included within Interface and the order book. Therefore, Grix cannot ensure the reliability of the data that is displayed. You are responsible for verifying the accuracy of all data before taking action.
No Financial Advice
We do not offer any financial advice or predictions and do not provide investment management services. Nothing in the Site, Interface or Protocol shall be deemed or constituted as financial advice. Neither the Site, Interface or Protocol is intended to substitute any professional financial advice and the reliance on any information provided via the Site, Interface or Protocol is made solely at your own risk. You are solely responsible for any decisions or actions you take based on the information and materials made available through the Site, Interface or Protocol.
Risks Relating to Options and Derivatives Trading
Trading options and derivatives involves substantial risk and is not suitable for all investors. You may lose your entire investment or more than your initial investment due to the complex nature of options and derivatives, market volatility, and leverage effects. Before trading options and derivatives, carefully consider your investment objectives, experience level, and risk tolerance. Past performance is not indicative of future results.
We are not responsible for any loss. The Protocol and blockchain networks are decentralized open source systems and may still under active development, and therefore: (a) may contain bugs, errors and defects, (b) may function improperly or be subject to periods of downtime and unavailability, (c) may result in total or partial loss or corruption of cryptocurrencies deposited within them and/or data, (d) may be modified at any time, including through the release of subsequent versions, all with or without notice to you, or (e) may have security vulnerabilities and be subject to hacking. Grix will not be liable or responsible for any losses or damages to you, including without limitation any loss of funds deposited in the Protocol, as a result of any of the foregoing.
Non-Custodial
The Protocol, Site and Interface are non-custodial. At no point in time are any of your crypto assets deposited in the Protocol, Site or Interface or under the custody or control of the Protocol or Grix.
Use Restrictions; Compliance
There are certain conducts which are strictly prohibited when using the Site. Please read the following restrictions carefully. Failure to comply with any of the provisions set forth herein may result (at Grix’s sole discretion) in the termination of your use of the Site and/or Interface and may also expose you to civil and/or criminal liability.
Unless otherwise explicitly permitted under these Terms or in writing by Grix, you may not (and you may not permit anyone to): (a) use the Site and/or the Interface for any illegal, immoral, unlawful and/or unauthorized purposes; (b) interfere with or violate Users’ rights to privacy and other rights, or harvest or collect personally identifiable information about Users without their express consent, whether manually or with the use of any robot, spider, crawler, any search or retrieval application, or use other manual or automatic device, process or method to access the Site and retrieve, index and/or data-mine information; (c) interfere with or disrupt the operation of the Site or the servers or networks that host the Site, or disobey any laws, regulations, requirements, procedures, or policies of such servers or networks; (d) bypass any measures we may use to prevent or restrict access to the Site and/or the Interface; (e) sell, license, or exploit for any commercial purposes any use of or access to the Site and/or the Interface; or (f) frame or mirror any part of the Site of Interface without Grix’s prior express written authorization.
The Interface may not be available or appropriate for use in certain jurisdictions. By accessing or using the Interface, you agree that you are solely and entirely responsible for compliance with all laws and regulations that may apply to you. You may not use the Interface if you are a citizen, resident, or member of the United States or of any jurisdiction or group that is subject to economic sanctions, or if your use of the Interface would be illegal or otherwise violate any applicable law. You may not use the Interface in connection with or which would involve proceeds of any unlawful activity.
Contacting us via the Site
In order to contact us, please email us at: contact@grix.finance.
Privacy Policy
We respect your privacy and are committed to protect the information you share with us. We believe that you have a right to know our practices regarding the information we collect when you connect to, access or use the Site. Our policy and practices and the type of information collected are described in details in our Privacy Policy. You agree that Grix may use personal information that you provide or make available to Grix in accordance with the Privacy Policy. If you intend to access or use the Site you must first read and agree to the Privacy Policy.
Intellectual Property Rights
The Site, the Interface and Grix’s proprietary assets and any and all intellectual property rights pertaining thereto, including, but not limited to, inventions, patents and patent applications, trademarks, trade names, service marks, copyrightable materials, domain names and trade secrets, whether or not registered or capable of being registered (collectively, “Intellectual Property”), are owned by and/or licensed to Grix and are protected by applicable patent, copyright and other intellectual property laws and international conventions and treaties. All rights not expressly granted to you hereunder are reserved by Grix and its licensors.
The Terms do not convey to you an interest in or to Grix’s Intellectual Property but only a limited revocable right of use in accordance with the Terms. Nothing in the Terms constitutes a waiver of IA’s Intellectual Property under any law.
To the extent you provide any feedback, comments or suggestions to Grix (“Feedback”), Grix shall have an exclusive, royalty-free, fully paid up, worldwide, perpetual and irrevocable license to incorporate the Feedback into any Grix current or future products, technologies or platform and use same for any purpose all without further compensation to you and without your approval. You agree that all such Feedback shall be deemed to be non-confidential. Further, you warrant that your Feedback is not subject to any license terms that would purport to require Grix to comply with any additional obligations with respect to any Grix current or future products, technologies or platform that incorporate any Feedback.
Availability
The Site’s and the Interface’s availability and functionality depends on various factors, such as communication networks. Grix does not warrant or guarantee that the Site and/or Interface will operate and/or be available at all times without disruption or interruption, or that it will be immune from unauthorized access or error-free.
Changes to The Site
Grix reserves the right to modify, correct, amend, enhance, improve, make any other changes to, or discontinue, temporarily or permanently this Site and/or the Interface (or any part thereof) without notice, at any time. In addition, you hereby acknowledge that the content provided under this Site may be changed, extended in terms of content and form or removed at any time without any notice to you. You agree that Grix shall not be liable to you or to any third party for any modification, suspension, or discontinuance of this Site or the Interface. You hereby agree that Grix is not responsible for any errors or malfunctions that may occur in connection with the performance of such changes.
Disclaimers and No Warranties
TO THE FULLEST EXTENT LEGALLY PERMISSIBLE, THE SITE AND THE INTERFACE AND THE PROTOCOL AND ANY SOFTWARE ACCESSED OR USED BY THE PROTOCOL ARE PROVIDED ON AN “AS IS”, “WITH ALL FAULTS” AND “AS AVAILABLE” BASIS, AND GRIX AND MC14, INCLUDING ITS VENDORS, OFFICERS, SHAREHOLDERS, SUB-CONTRACTORS, DIRECTORS, EMPLOYEES, AFFILIATES, SUBSIDIARIES, LICENSORS, AGENTS AND SUPPLIERS (COLLECTIVELY, “REPRESENTATIVES“), DISCLAIM ALL WARRANTIES OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY, INCLUDING BUT NOT LIMITED TO WARRANTIES OF TITLE OR NON-INFRINGEMENT OR IMPLIED WARRANTIES OF USE, MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE AND THOSE ARISING FROM A COURSE OF DEALING OR USAGE OF TRADE. YOU MAY HAVE ADDITIONAL CONSUMER RIGHTS UNDER YOUR LOCAL LAWS THAT THIS AGREEMENT CANNOT CHANGE.
WE DO NOT WARRANT (I) THAT THE USE AND OPERATION OF THE SITE, THE INTERFACE AND/OR THE PROTOCOL IS OR WILL BE SECURE, TIMELY, ACCURATE, COMPLETE, UNINTERRUPTED, WITHOUT ERRORS, OR FREE OF VIRUSES, DEFECTS, WORMS, OTHER HARMFUL COMPONENTS OR OTHER PROGRAM LIMITATIONS, (II) THAT WE WILL CORRECT ANY ERRORS OR DEFECTS IN THE SITE OR THE INTERFACE, (III) AND/OR MAKE ANY REPRESENTATION REGARDING THE USE, INABILITY TO USE OR OPERATE, OR THE RESULTS OF THE USE OF THE SITE AND/OR INTERFACE AND/OR PROTOCOL (INCLUDING THAT THE RESULTS OF USING THE SITE AND/OR INTERFACE AND/OR PROTOCOL WILL MEET YOUR REQUIREMENTS). GRIX AND MC14 THEIR RESPECTIVE REPRESENTATIVES DISCLAIM ALL WARRANTIES AND CONDITIONS WITH REGARD TO THE USE OF THE SITE AND THE INTERFACE AND THE PROTOCOL AND ANY SOFTWARE ACCESSED OR USED BY THE PROTOCOL, INCLUDING BUT NOT LIMITED TO THE AVAILABILITY, RELIABILITY OR THE QUALITY OF THE SITE AND THE INTERFACE AND THE PROTOCOL AND ANY SOFTWARE ACCESSED OR USED BY THE PROTOCOL, AND ARE NOT AND SHALL NOT BE RESPONSIBLE FOR ANY ERROR, FAULT OR MISTAKE RELATED TO ANY CONTENT AND/OR INFORMATION DISPLAYED WITHIN THE SITE OR THE INTERFACE OR THE PROTOCOL OR ANY SOFTWARE ACCESSED OR USED BY THE PROTOCOL.
WE ARE NOT RESPONSIBLE AND HAVE NO LIABILITY FOR ANY ITEM OR SERVICE PROVIDED BY ANY PERSON OR ENTITY OTHER THAN GRIX, EVEN IF LINKED BY OR CONNECTED TO THE SITE, INTERFACE OR PROTOCOL.
WE ARE NOT RESPONSIBLE FOR ANY CONSEQUENCES TO YOU OR OTHERS THAT MAY RESULT FROM TECHNICAL PROBLEMS (INCLUDING WITHOUT LIMITATION IN CONNECTION WITH THE INTERNET SUCH AS SLOW CONNECTIONS, TRAFFIC CONGESTION, OVERLOAD OF SERVERS, DELAYS OR INTERRUPTIONS) OR ANY TELECOMMUNICATIONS OR INTERNET PROVIDERS.
YOU AGREE THAT USE OF THE SITE, THE INTERFACE AND/OR THE PROTOCOL IS ENTIRELY AT YOUR OWN RISK.
INASMUCH AS SOME JURISDICTIONS DO NOT ALLOW THE EXCLUSIONS OR LIMITATIONS AS SET FORTH HEREIN, THE FULL EXTENT OF THE ABOVE EXCLUSIONS AND LIMITATIONS MAY NOT APPLY.
Limitation of Liability
TO THE MAXIMUM EXTENT LEGALLY PERMISSIBLE, IN NO EVENT SHALL GRIX OR MC14, INCLUDING GRIX’S AND MC14’S REPRESENTATIVES BE LIABLE FOR ANY DAMAGES WHATSOEVER, INCLUDING, BUT NOT LIMITED TO, DIRECT, INDIRECT, SPECIAL, PUNITIVE, EXEMPLARY, INCIDENTAL OR CONSEQUENTIAL DAMAGES OF ANY KIND, UNDER ANY LEGAL THEORY (INCLUDING, WITHOUT LIMITATION, CONTRACT, NEGLIGENCE, TORT OR STRICT LIABILITY), INCLUDING, WITHOUT LIMITATION, LOSS OF GOODWILL, PROFITS OR DATA AND BUSINESS INTERRUPTION, ARISING HEREUNDER, RESULTING FROM OR ARISING OUT OF THE SITE, THE INTERFACE AND/OR THE PROTOCOL, AND/OR THE FAILURE OF THE SITE, THE INTERFACE AND/OR THE PROTOCOL TO PERFORM AS REPRESENTED OR EXPECTED, OR FROM ANY CONTENT, OR FROM THE PERFORMANCE OR FAILURE OF GRIX TO PERFORM UNDER THESE TERMS, ANY OTHER ACT OR OMISSION OF GRIX OR MC14 OR THEIR RESPECTIVE REPRESENTATIVES BY ANY OTHER CAUSE WHATSOEVER; OR BASED UPON BREACH OF WARRANTY, GUARANTEE OR CONDITION, BREACH OF CONTRACT, NEGLIGENCE, STRICT LIABILITY, TORT, OR ANY OTHER LEGAL THEORY, REGARDLESS OF WHETHER GRIX OR MC14 OR THEIR RESPECTIVE REPRESENTATIVES HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.
IN ANY CASE, WITHOUT LIMITING THE GENERALITY OF THE FOREGOING AND TO THE MAXIMUM EXTENT LEGALLY PERMISSIBLE, GRIX AND MC14 AND THEIR RESPECTIVE REPRESENTATIVES’ TOTAL AGGREGATE LIABILITY FOR ALL DAMAGES OR LOSSES WHATSOEVER ARISING HEREUNDER OR IN CONNECTION WITH YOUR USE OR INABILITY TO USE THE SITE, THE INTERFACE AND/OR THE PROTOCOL SHALL BE LIMITED TO THE AMOUNT ACTUALLY PAID BY YOU, IF ANY, TO GRIX FOR USE OF THE SITE OR $US 1.00, WHICHEVER IS GREATER. YOU WILL NOT, AND WAIVE ANY RIGHT TO, SEEK TO RECOVER ANY OTHER DAMAGES, INCLUDING CONSEQUENTIAL, LOST PROFITS, LOSS OF FUNDS, SPECIAL, INDIRECT OR INCIDENTAL DAMAGES FROM GRIX AND MC14 AND FROM THEIR RESPECTIVE REPRESENTATIVES.
IN AS MUCH AS SOME JURISDICTIONS DO NOT ALLOW THE EXCLUSIONS OR LIMITATIONS AS SET FORTH HEREIN, THE FULL EXTENT OF THE ABOVE EXCLUSIONS AND LIMITATIONS MAY NOT APPLY.
Release of Claims
You expressly agree that you assume all risks in connection with your access and use of the Interface and your interaction with the Protocol. You further expressly waive and release us and MC14 Ltd. from any and all liability, claims, causes of action, or damages arising from or in any way relating to your use of the Interface and your interaction with the Protocol. If you are a California resident, you waive the benefits and protections of California Civil Code § 1542, which provides: “[a] general release does not extend to claims that the creditor or releasing party does not know or suspect to exist in his or her favor at the time of executing the release and that, if known by him or her, would have materially affected his or her settlement with the debtor or released party.”
Amendments to the Terms
Grix may, at its sole discretion, change the Terms from time to time, including any other policies incorporated thereto, so please re-visit this page frequently. In case of any material change, we will make reasonable efforts to post a clear notice on the Site regarding such change. Such material changes will take effect seven (7) days after such notice was provided on our Site. Otherwise, all other changes to these Terms are effective as of the stated “Last Revised” date and your continued use of the Site or the Interface on or after the Last Revised date will constitute acceptance of, and agreement to be bound by, those changes. In the event that the Terms should be amended to comply with any legal requirements or security concerns, the amendments may take effect immediately, or as required by the law and without any prior notice.
Termination of these Terms and the Termination of the Site’s and Interface’s Operation
At any time, Grix may without notice discontinue your use of the Site or the Interface, at its sole discretion, in addition to any other remedies that may be available to Grix under any applicable law.
Additionally, Grix may at any time, at its sole discretion, cease the operation of the Site or any part thereof, including the Interface, temporarily or permanently, delete any information or content from the Site or correct, modify, amend, enhance, improve and make any other changes thereto or discontinue displaying or providing any information, Content or features therein without giving any prior notice. You agree and acknowledge that Grix does not assume any responsibility with respect to, or in connection with the termination of the Site’s or the Interface’s operation and loss of any data. The provisions of these Terms that, by their nature and content, must survive the termination of these Terms in order to achieve the fundamental purposes of these Terms shall so survive. Without limiting the generality of the foregoing, the Intellectual Property, Disclaimer and Warranties, Limitation of Liability, Indemnification and General sections will survive the termination of the Terms.
Governing Law; Jurisdiction; Agreement to Arbitrate; No Class Action; Waiver of Right to Jury Trial
Any claim relating to the Site, the Interface or the use thereof will be governed by and interpreted in accordance with the laws of the Cayman Islands, without reference to its conflict-of-laws principles and the United Nations Convention Relating to a Uniform Law on the International Sale of Goods may not be applied.
All disputes arising out of or in connection with the present contract shall be finally settled under the Rules of Arbitration of the International Chamber of Commerce by one or more arbitrators appointed in accordance with the said Rules. The arbitration will be conducted in the English language and held by teleconference or, if teleconference is not possible, in the Cayman Islands (the “Agreement to Arbitrate”).
You must bring any and all claims or disputes against us in your individual capacity and not as a plaintiff in or member of any purported class action, collective action, private attorney general action, or other representative proceeding. This provision applies to class arbitration.
You and we both agree to waive the right to demand a trial by jury.
Notwithstanding the foregoing, Grix may seek injunctive relief in any court of competent jurisdiction.
General
(a) These Terms constitute the entire terms and conditions between you and Grix relating to the subject matter herein and supersedes any and all prior or contemporaneous written or oral agreements or understandings between you and Grix, (b) these Terms do not, and shall not be construed to create any relationship, partnership, joint venture, employer-employee, agency, or franchisor-franchisee relationship between the parties hereto, (c) no waiver by either party of any breach or default hereunder will be deemed to be a waiver of any preceding or subsequent breach or default, (d) any heading, caption or section title contained herein is inserted only as a matter of convenience, and in no way defines or explains any section or provision hereof, (e) YOU ACKNOWLEDGE AND AGREE THAT ANY CAUSE OF ACTION THAT YOU MAY HAVE ARISING OUT OF OR RELATED TO THE SITE MUST COMMENCE WITHIN ONE (1) YEAR AFTER THE CAUSE OF ACTION ACCRUES. OTHERWISE, SUCH CAUSE OF ACTION IS PERMANENTLY BARRED, (f) if any provision hereof is adjudged by any court of competent jurisdiction to be unenforceable, that provision shall be limited or eliminated to the minimum extent necessary so that these Terms shall otherwise remain in full force and effect while most nearly adhering to the intent expressed herein, (g) you may not assign or transfer these Terms (including all rights and obligations hereunder) without our prior written consent and any attempt to do so in violation of the foregoing shall be void. We may assign or transfer these Terms without restriction or notification, (h) no amendment hereof will be binding unless in writing and signed by Grix, and (i) the parties agree that all correspondence relating to these Terms shall be written and in the English language.