Please read the terms carefully as they govern your use of Gennix Services.
These terms contain important provisions including an arbitration provision that requires all claims to be resolved by way of legally binding arbitration.
The terms of the arbitration provision are set forth in Clause 11, “Governing Law and Jurisdiction”, hereunder. As with any asset, the values of Digital Currencies (as defined below) may fluctuate significantly and there is a substantial risk of economic losses when purchasing, selling, holding or investing in Digital Currencies and their derivatives.
By making use of Gennix services, you acknowledge and agree that: (1) you are aware of the risks associated with transactions of digital currencies; (2) you shall assume all risks related to the use of Gennix services and transactions of digital currencies; and (3) Gennix shall not be liable for any such risks or adverse outcomes.
By accessing, using or attempting to use Gennix Services in any capacity, you acknowledge that you accept and agree to be bound by these Terms. If you do not agree, do not access Gennix or utilise Gennix services.
Refer to all parties that run Gennix, including but not limited to [Client to provide us with their full company names & registration no’s, if they want it to be included], legal persons, unincorporated organizations and teams that provide Gennix services and are responsible for such services. For convenience, unless otherwise stated, references to “Gennix” and “we” in these terms specifically mean Gennix operators.
Under these terms, Gennix operators may change as Gennix’s business adjusts, in which case, the changed operators shall perform their obligations under these terms with you and provide services to you, and such change does not affect your rights and interests under these terms. Additionally, the scope of Gennix operators may be expanded due to the provision of new Gennix services, in which case, if you continue to use Gennix services, it is deemed that you have agreed to jointly execute these terms with the newly added Gennix operators.
In case of a dispute, you shall determine the entities by which these terms are performed with you and the counterparties of the dispute, depending on the specific services you use and the particular actions that affect your rights or interests.
The term “Gennix’s Services” shall be taken to refer to various services provided to you by Gennix that are based on Internet and/or blockchain technologies and offered via Gennix websites, mobile applications, clients and other forms (including new ones enabled by future technological development). Gennix’s Services include, but are not limited to, Gennix’s Platform components such as Gennix’s peer-to-peer lending Platform (Gennix’s internal Compliance and Regulatory checks, Gennix’s Liquidity and Mining Service). Gennix’s Service refer to both existing services offered by Gennix, and novel services to be provided by Gennix, as and when they are developed and introduced by Gennix.
Refers to all rules, interpretations, announcements, statements, letters of consent and other contents that have been and will be subsequently released by Gennix, as well as all regulations, implementation rules, product process descriptions, and announcements published in the Help Centre or within products or service processes.
Refers to all individuals, institutions or organisations that access, download or use Gennix or Gennix Services and who meet the criteria and conditions stipulated by Gennix. If there exist other agreements for such entities as developers, distributors, market makers, and Digital Currencies exchanges, such agreements shall be followed.
Refers to encrypted or digital tokens or cryptocurrencies with a certain value that are based on blockchain and cryptography technologies and are issued and managed in a decentralized form.
Refers to Digital Currencies or other types of digitalized assets with a certain value.
Refers to the foundational virtual accounts, including main accounts and subaccounts, which are opened by Gennix for Users to record on Gennix their usage of Gennix Services, transactions, asset changes and basic information. Gennix Accounts serve as the basis for Users to enjoy and exercise their rights on Gennix.
Refers to spot transactions in which one digital currency is exchanged for another digital currency.
Refer to special accounts opened by Users on Gennix to deposit and withdraw collateral (such as margins) in accordance with these Terms (including the Gennix Contract Services Agreement and Gennix Platform Rules), as required for contract transactions, leveraged trading and/or currency borrowing services.
Refers to Gennix’s lending of Digital Currencies to Users at an interest collected in certain ways (in the form of Digital Currencies), including but not limited to the leveraged trading and currency lending services currently offered, and other forms of loan/lending services to be launched by Gennix. [Gennix to confirm whether this service will be rendered.]
2. General provisions
2.1 About these terms
2.1.1 Contractual Relationship
These Terms constitute a legal agreement and create a binding contract between you and Gennix Operators.
2.1.2 Supplementary Terms
2.1.3 Changes to These Terms
Gennix reserves the right to change or modify these Terms at its discretion at any time. Gennix will notify such changes by updating the terms on its website [gennix.io] and modifying the [Last revised] date displayed on this page. Any and all modifications or changes to these terms will become effective upon publication on the website or release to users. Therefore, your continued use of Gennix services is deemed your acceptance of the modified agreement and rules. If you do not agree to any changes to these terms, you must stop using Gennix services immediately. You are recommended to frequently review these terms to ensure your understanding of the terms and conditions that apply to your access to and use of Gennix services
2.1.4 Prohibitions of Use
By accessing and using Gennix services, you represent and warrant that you have not been included in any trade embargoes or economic sanctions list (such as the united nations security council sanctions list), and that you have sought your own legal advice and have confirmed that you are not legally prohibited from dealing with a digital currency platform like Gennix. Gennix reserves the right to choose markets and jurisdictions to conduct business, and may restrict or refuse, in its discretion, the provision of Gennix services in certain countries or regions.
2.2 About Gennix
2.3 Gennix Account Registration and Requirements
By registering to use a Gennix Account, you represent and warrant that as an individual, you are at least 18 or are of legal age to form a binding contract under applicable laws;
you do not currently have a Gennix Account;
your use of Gennix Services will not violate any and all laws and regulations applicable to you, including but not limited to regulations on anti-money laundering, anti-corruption, and counter-terrorist financing.
2.3.3User Identity Verification
After registration, you must ensure that the information is true, complete, and timely updated when changed. If there are any grounds for believing that any of the information you provided is incorrect, false, outdated or incomplete, Gennix reserves the right to send you a notice to demand correction, directly delete the relevant information, and, as the case may be, terminate all or part of Gennix services we provide for you. If we are unable to reach you with the contact information you provided, you shall be fully liable for any loss or expense caused to Gennix during your use of Gennix services. You hereby acknowledge and agree that you have the obligation to update all the information if there is any change.
By registering an account, you hereby authorize Gennix to conduct investigations that Gennix considers necessary, either directly or through a third party, to verify your identity or protect you, other users and/or Gennix from fraud or other financial crimes, and to take necessary actions based on the results of such investigations. You also acknowledge and agree that your personal information may be disclosed to credit bureaus and agencies for fraud prevention or financial crime prevention, which may respond to our investigations in full.
2.3.4 Account Usage Requirements
The Gennix Account can only be used by the account registrant. Gennix reserves the right to suspend, freeze or cancel the use of Gennix Accounts by persons other than account registrant. If you suspect or become aware of any unauthorized use of your username and password, you should notify Gennix immediately. Gennix assumes no liability for any loss or damage arising from the use of Gennix Account by you or any third party with or without your authorization.
2.3.5 Account Security
Gennix has been committed to maintaining the security of User entrusted funds, and has implemented industry standard protection for Gennix Services. However, the actions of individual Users may pose risks. You shall agree to treat your access credentials (such as username and password) as confidential information, and not to disclose such information to any third party. You also agree to be solely responsible for taking the necessary security measures to protect your Gennix Account and personal information.
You should be solely responsible for keeping safe of your Gennix Account and password, and be responsible for all the transactions under your Gennix Account. Gennix assumes no liability for any loss or consequences caused by authorized or unauthorized use of your account credentials, including but not limited to information disclosure, information release, consent or submission of various rules and agreements by clicking on the website, online agreement renewal, etc.
By creating a Gennix Account, you hereby agree that:
a. You will notify Gennix immediately if you are aware of any unauthorized use of your Gennix Account and password or any other violation of security rules;
b. You will strictly abide by all mechanisms or procedures of Gennix regarding security, authentication, trading, charging, and withdrawal; and
c. You will take appropriate steps to logout from Gennix at the end of each visit.
2.3.6 Personal Data
a. Your transaction counterparty;
b. Gennix Operators, and the shareholders, partners, investors, directors, supervisors, senior managers and employees of such entities;
c. Our joint ventures, alliance partners and business partners;
d. Our agents, contractors, suppliers, third-party service providers and professional advisers, including the parties who have been contracted to provide us with administrative, financial, research, operations, IT and other services, in such areas as telecommunications, information technology, payroll, information processing, training, market research, storage and archival;
e. Third-party business partners who provide goods and services or sponsor contests or other promotional activities, whether or not in cooperation with us;
f. Insurance companies or insurance investigators and credit providers;
g. Credit bureaus, or any debt collection agencies or dispute resolution centers in the event of violation or dispute;
h. Business partners, investors, trustees or assignees (actual or expected) that promote business asset transactions (which can be broadened to include any merger, acquisition or asset sale) of Gennix Operators;
i. Professional consultants such as auditors and lawyers;
j. Relevant government regulatory agencies or law enforcement agencies to comply with laws or regulations formulated by government authorities;
k. Assignees of our rights and obligations;
l. Banks, credit card companies and their respective service providers;
m. Persons with your consent as determined by you or the applicable contract.
2.3.7 Gennix Services
Upon completion of the registration and identity verification for your Gennix Account, you may use various Gennix Services, including but not limited to, Crypto-to-crypto Trading, contract trading, leveraged trading, staking, acquiring market-related data, research and other information released by Gennix, participating in User activities held by Gennix, etc., in accordance with the provisions of these Terms (including Gennix Platform Rules and other individual agreements). Gennix has the right to:
a. Provide, modify or terminate, in its discretion, any Gennix Services based on its development plan; and
b. Allow or prohibit some Users’ use of any Gennix Services in accordance with relevant Gennix Platform Rules.
3. Service usage guidelines
3.1.1Provided that you constantly comply with the express terms and conditions stated in these Terms, Gennix grants you a revocable, limited, royalty-free, non-exclusive, non-transferable, and non-sublicensable license to access and use Gennix Services through your computer or Internet compatible devices for your personal/internal purposes. You are prohibited to use Gennix Services for resale or commercial purposes, including transactions on behalf of other persons or entities. All the above actions are expressly prohibited and constitute a material violation of these Terms. The content layout, format, function and access rights regarding Gennix Services should be stipulated in the discretion of Gennix. Gennix reserves all rights not expressly granted in these Terms. Therefore, you are hereby prohibited from using Gennix Services in any way not expressly authorized by these Terms.
Gennix owns any feedback, suggestions, ideas, or other information or materials (hereinafter collectively referred to as “Feedback”) about Gennix or Gennix Services that you provide through email, Gennix Services, or other ways. You hereby transfer all rights, ownership and interests of the Feedback and all related intellectual property rights to Gennix. You have no right and hereby waive any request for acknowledgment or compensation based on any Feedback, or any modifications based on any Feedback.
When you use Gennix Services, you agree and undertake to comply with the following provisions:
During the use of Gennix Services, all activities you carry out should comply with the requirements of applicable laws and regulations, these Terms, and various guidelines of Gennix;
Your use of Gennix Services should not violate public interests, public morals, or the legitimate interests of others, including any actions that would interfere with, disrupt, negatively affect, or prohibit other Users from using Gennix Services;
You agree not to use the services for market manipulation (such as pump and dump schemes, wash trading, self-trading, front running, quote stuffing, and spoofing or layering, regardless of whether prohibited by law);
Without written consent from Gennix, the following commercial uses of Gennix data are prohibited:
Trading services that make use of Gennix quotes or market bulletin board information.
Data feeding or streaming services that make use of any market data of Gennix.
Any other websites/apps/services that charge for or otherwise profit from (including through advertising or referral fees) market data obtained from Gennix.
Without prior written consent from Gennix, you may not modify, replicate, duplicate, copy, download, store, further transmit, disseminate, transfer, disassemble, broadcast, publish, remove or alter any copyright statement or label, or license, sub-license, sell, mirror, design, rent, lease, private label, grant security interests in the properties or any part of the properties, or create their derivative works or otherwise take advantage of any part of the properties.
You may not:
Use any deep linking, web crawlers, bots, spiders or other automatic devices, programs, scripts, algorithms or methods, or any similar or equivalent manual processes to access, obtain, copy or monitor any part of the properties, or replicate or bypass the navigational structure or presentation of Gennix Services in any way, in order to obtain or attempt to obtain any materials, documents or information in any manner not purposely provided through Gennix Services;
attempt to access any part or function of the properties without authorization, or connect to Gennix Services or any Gennix servers or any other systems or networks of any Gennix Services provided through the services by hacking, password mining or any other unlawful or prohibited means;
probe, scan or test the vulnerabilities of Gennix Services or any network connected to the properties, or violate any security or authentication measures on Gennix Services or any network connected to Gennix Services;
reverse look-up, track or seek to track any information of any other Users or visitors of Gennix Services;
take any actions that imposes an unreasonable or disproportionately large load on the infrastructure of systems or networks of Gennix Services or Gennix, or the infrastructure of any systems or networks connected to Gennix services;
use any devices, software or routine programs to interfere with the normal operation of Gennix Services or any transactions on Gennix Services, or any other person’s use of Gennix Services;
forge headers, impersonate, or otherwise manipulate identification, to disguise your identity or the origin of any messages or transmissions you send to Gennix, or
use Gennix Services in an illegal way.
By accessing Gennix Services, you agree that Gennix has the right to investigate any violation of these Terms, unilaterally determine whether you have violated these Terms, and take actions under relevant regulations without your consent or prior notice. Examples of such actions include, but are not limited to:
Blocking and closing order requests;
Freezing your account;
Reporting the incident to the authorities;
Publishing the alleged violations and actions that have been taken;
Deleting any information you published that are found to be violations.
Upon completion of the registration and identity verification for your Gennix Account, you may conduct Crypto-to-crypto Trading on Gennix in accordance with the provisions of these Terms and Gennix Platform Rules.
Upon sending an instruction of using Gennix Services for Crypto-to-crypto Trading (an “Order”), your account will be immediately updated to reflect the open Orders, and your Orders will be included in Gennix’s order book to match other users’ Orders. If one of your Orders fully or partially matches another user’s Order, Gennix will execute an exchange (a “Transaction”). Once the Transaction is executed, your account will be updated to reflect that the Order has been fully executed and closed, or the Order has been partially executed. The Order will remain uncompleted until it is fully executed or cancelled under Clause 4.2 below. To conclude a Transaction, you authorize Gennix to temporarily control the Digital Currencies involved in your Transaction. [Client to confirm whether this is the manner in which the Gennix platform will operate.]
For Orders initiated through Gennix Services, you may only cancel them before they have been matched with other Users’ Orders. Once your Order has been matched with another user’s Order, you may not change, revoke or cancel Gennix’s authorization to complete the Order. For any partially matched Order, you may cancel the unmatched part of the Order unless such portion has been matched. Gennix reserves the right to reject any cancellation request related to the Order you have submitted. If your account does not have sufficient amount of Digital Currencies to execute an Order, Gennix may cancel the entire Order, or execute part of the Order with the amount of Digital Currencies you have in your account (in each case, any Transaction related fees payable to Gennix are deducted as stated in Clause 4.3 below).
You agree to pay Gennix the fees specified in [x.com]. Gennix may, in its discretion, update the fees at any time. Any updated fees will apply to any sales or other Transactions that occur following the effective date of the updated fees. You authorize Gennix to deduct from your account any applicable fees that you owe under these Terms. [Client to confirm whether Gennix Users will have to pay a subscription/ platform fee – this is aside from the fees necessary to buy Gennix NFT(s) & therefore become a member].
Other Types of Crypto-to-Crypto Trading
In addition to the Crypto-to-crypto Trading that allows users to directly place orders as mentioned in Clause 4.1 above, Gennix may, in its discretion, provide technical and platform services for other types of Crypto-to-crypto Trading under its separately formulated Gennix Platform Rules, such as One Cancels the Other (OCO) and block trade.
[Based off Gennix’s whitepaper, Gennix’s Services doesn’t appear to include Futures or Margins trading. We also understand Gennix’s service includes a staking program, but will it include Proof of Staking technology? We would appreciate a confirmation of this matter. For example, if Gennix intend to eventually incorporate such services, we may draft it prospectively. With further instructions, Clauses 4.5 to 4.8 may be omitted/ retained/re-drafted accordingly.]
Unless otherwise specified by Gennix, to conduct Futures Trading, you must conclude with Gennix a separate Gennix Futures Service Agreement and open a special Collateral Account, following the completion of registration and identity verification for your Gennix Account. You acknowledge and agree that:
You fully understand the high risks of Futures Trading, including but not limited to the risk of major fluctuations of Digital Assets in Futures Trading, and the risk of exacerbated adverse outcome when leverage is used;
You have sufficient investment knowledge and experience and the capacity to take risks arising from Futures Trading, and agree to independently assume all the risks arising from the investment of Futures Trading;
Before performing Futures Trading, you have read and understood all the contents of the Gennix Futures Service Agreement and the relevant Gennix Platform Rules, and have consulted relevant professionals to make informed decisions on whether and how to complete Futures Trading according to their recommendations and your own reasonable judgment;
You agree and authorize Gennix to take various reasonable measures in its discretion (including but not limited to forced liquidation and forced position reduction under specific circumstances) in accordance with the Gennix Futures Service Agreement and the relevant Gennix Platform Rules to protect the legitimate interests of you, Gennix and other Users.
Unless otherwise specified by Gennix, prior to conducting Margins Trading, you must open a special Collateral Account and/or complete other related procedures, following the completion of registration and identity verification for your Gennix Account.
Risks of Margins Trading
Margins Trading is highly risky. As a leveraged trader, you acknowledge and agree that you access and use Margins Trading and borrowing services at your own risk, which include but are not limited to:
The liquidity, market depth and dynamics of the trading market fluctuate violently and change rapidly. The use of leverage may work to your advantage or disadvantage, which may result in major gains or losses as the case may be.
You are not eligible to receive forked currencies split from any blockchain assets in your Collateral Account, even if you have not engaged in any Margins Trading or borrowing at all.
Loans carry risk, and the value of your blockchain assets may decline. If the value of your assets drops to a certain level, you are responsible for dealing with these market circumstances.
In some market situations, you may find it difficult or impossible to liquidate a position. This may occur, for example, as a result of insufficient market liquidity or technical issues on Gennix.
Placing contingent Orders does not necessarily limit your losses to the expected amount, as market conditions may prevent you from executing such orders.
Margins Trading does not have guaranteed measures against losses. As a borrower, you may suffer losses that exceed the amount you deposited into your Collateral Account.
To start Margins Trading
You represent and warrant that you are neither from the U.S. nor on any list of trade embargoes or economic sanctions, such as the Specially Designated National by OFAC (The Office of Foreign Assets Control of the U.S. Department of the Treasury).
You should fully understand the risks associated with Margins Trading and Lending, and be fully responsible for any trading and non-trading activities under your Gennix Account and Collateral Account. You should not engage in Transactions or invest in funds that are beyond your financial capacities;
You are fully responsible for knowing the true status of any position, even if Gennix may present it incorrectly at any time;
You agree to keep enough Digital Assets in your Collateral Account, as required by Gennix for Users’ engagement in Margins Trading, and promptly repay your loan in full. Failure to keep enough assets or to timely repay the outstanding loan may result in forced liquidation of the assets in your Collateral Account;
Even if with the ability to forcefully liquidate any position, Gennix cannot guarantee to stop losses. If your assets are insufficient to repay the outstanding loan after the liquidation of your position, you are still liable for any further shortfall of assets;
Gennix may take measures, in its discretion and on your behalf, to reduce your potential losses, including but not limited to, transferring assets from your Collateral Account into your Gennix Account and/or vice versa;
During Gennix system maintenance, you agree to be fully responsible for managing your Collateral Account under risks, including but not limited to, closing positions and repaying your loan.
You agree to conduct all Transactions, Margins Trading and/or borrowing on your own, and be fully responsible for your activities. Gennix assumes no liability for any loss or damage caused by your use of any Gennix services or your unawareness of the risks associated with the use of Digital Assets or with your use of Gennix Services.
Gennix will from time to time launch Staking Programs for specific types of Digital Currencies to reward, as per certain rules, users who hold such Digital Currencies in their Gennix Accounts. When participating in Staking Programs, you should note that:
Unless otherwise stipulated by Gennix, Staking Programs are free of charge and Users may trade during the staking period;
Gennix does not guarantee Users’ proceeds under any Staking Program;
Gennix has the right to initiate or terminate Staking Program for any Digital Currencies or modify rules on such programs in its sole discretion;
Users shall ensure that sources of the Digital Currencies they hold in Gennix Accounts are legal and compliant and undertake to observe related laws and regulations. Otherwise, Gennix has the right to take necessary steps in accordance with these Terms or Gennix Platform Rules, including, without limitation, freezing Gennix Accounts or deducting the Digital Currencies awarded to Users who violate the rules of respective Staking Programs.
Gennix POS Service Agreement
Gennix.io launched Gennix POS service for Gennix.io users to gain proceeds through idle cryptocurrency assets.
Gennix POS assets will be used in cryptocurrency staking to gain proceeds and other businesses.
When you use Gennix POS service, you will unconditionally authorize Gennix.io to distribute the staking interest according to the rules of the platform.
You shall abide by the relevant laws of the State to ensure that the sources of assets are legitimate and compliant when using Gennix POS service.
When you use Gennix POS service, you should fully recognize the risks of investment in cryptocurrency and operate cautiously.
You agree that all investment operations conducted on Gennix.io represent your true investment intentions and that unconditionally accept the potential risks and benefits of your investment decisions.
Gennix.io reserves the right to suspend or terminate Gennix POS service. If necessary, Gennix.io can suspend and terminate Gennix POS service at any time.
Due to network delay, computer system failures and other force majeure, which may lead to delay, suspension or deviation of Gennix POS service execution, Gennix.io will use commercially reasonable effort to ensure but not promise that Gennix POS service execution system run stably and effectively. Gennix.io does not take any responsibility if the final execution doesn’t match your expectations due to the above factors.
Disclaimer of warranties
To the maximum extent permitted under applicable law, Gennix services, Gennix materials and any product, service or other item provided by or on behalf of Gennix are offered on an “as is” and “as available” basis, and Gennix expressly disclaims, and you waive, any and all other warranties of any kind, whether express or implied, including, without limitation, warranties of merchantability, fitness for a particular purpose, title or non-infringement or warranties arising from course of performance, course of dealing or usage in trade.
Without limiting the foregoing, Gennix does not represent or warrant that the site, Gennix services or Gennix materials are accurate, complete, reliable, current, error-free, or free of viruses or other harmful components. Gennix does not guarantee that any order will be executed, accepted, recorded or remain open.
Except for the express statements, agreements and rules set forth in these terms, you hereby acknowledge and agree that you have not relied upon any other statement or agreement, whether written or oral, with respect to your use and access of Gennix services. Without limiting the foregoing, you hereby understand and agree that Gennix will not be liable for any losses or damages arising out of or relating to:
any inaccuracy, defect or omission of digital assets price data;
any error or delay in the transmission of such data;
interruption in any such data;
regular or unscheduled maintenance carried out by Gennix and service interruption and change resulting from such maintenance;
any damages incurred by other users’ actions, omissions or violation of these terms;
any damage caused by illegal actions of other third parties or actions without authorized by Gennix; and
other exemptions mentioned in disclaimers and platform rules issued by Gennix.
The disclaimer of implied warranties contained herein may not apply if and to the extent it is prohibited by applicable law of the jurisdiction in which you reside.
Disclaimer of Damages and Limitation of Liability
To the maximum extent permitted by applicable law, in no event will Gennix, its affiliates and their respective shareholders, members, directors, officers, employees, attorneys, agents, representatives, suppliers or contractors be liable for any incidental, indirect, special, punitive, consequential or similar damages or liabilities whatsoever (including, without limitation, damages for loss of data, information, revenue, profits or other businesses or financial benefits) arising out of Gennix services, any performance or non-performance of Gennix services, or any other product, service or other item provided by or on behalf of Gennix and its affiliates, whether under contract, statute, strict liability or other theory even if Gennix has been advised of the possibility of such damages except to the extent of a final judicial determination that such damages were a result of Gennix’s gross negligence, fraud, willful misconduct or intentional violation of law.
Notwithstanding the foregoing, in no event will the liability of Gennix, its affiliates and their respective shareholders, members, directors, officers, employees, solicitors, agents, representatives, suppliers or contractors arising out of services offered by or on behalf of Gennix and its affiliates, any performance or non-performance of Gennix services, or any other product, service or other item, whether under contract, statute, strict liability or other theory, exceed the amount of the fees paid by you to Gennix under these terms in the twelve-month period immediately preceding the event giving rise to the claim for liability.
You agree to indemnify and hold harmless Gennix Operators, their affiliates, contractors, licensors, and their respective directors, officers, employees and agents from and against any claims, actions, proceedings, investigations, demands, suits, costs, expenses and damages (including solicitor’s fees, fines or penalties imposed by any regulatory authority) arising out of or related to:
your use of, or conduct in connection with, Gennix Services;
your breach or our enforcement of these Terms, or
your violation of any applicable law, regulation, or rights of any third party during your use of Gennix Services.
If you are obligated to indemnify Gennix Operators, their affiliates, contractors, licensors, and their respective directors, officers, employees or agents pursuant to these Terms, Gennix will have the right, in its sole discretion, to control any action or proceeding and to determine whether Gennix wishes to settle, and if so, on what terms.
Please be aware that all official announcements, news, promotions, competitions and airdrops will be listed on [gennix.io].
Users undertake to refer to these materials regularly and promptly. Gennix will not be held liable or responsible in any manner of compensation should users incur personal losses arising from ignorance or negligence of the announcements.
termination of agreements
Suspension of Gennix Accounts
You agree that Gennix shall not be liable to you for any permanent or temporary modification of your Gennix Account, or suspension or termination of your access to all or any portion of Gennix Services. Gennix shall reserve the right to keep and use the transaction data or other information related to such Gennix Accounts. The above account controls may also be applied in the following cases:
The Gennix Account is subject to a governmental proceeding, criminal investigation or other pending litigation;
We detect unusual activities in the Gennix Account;
We detect unauthorized access to the Gennix Account;
We are required to do so by a court order or command by a regulatory/ government authority.
Cancellation of Gennix Accounts
In case of any of the following events, Gennix shall have the right to directly terminate these Terms by cancelling your Gennix Account, and shall enjoy the right but not the obligation to permanently freeze (cancel) the authorizations of your Gennix Account on Gennix and withdraw the corresponding Gennix Account thereof:
after Gennix terminates services to you;
you allegedly register or register in any other person’s name as a Gennix User again, directly or indirectly;
the information that you have provided is untruthful, inaccurate, outdated or incomplete;
when these Terms are amended, you state your unwillingness to accept the amended Terms by applying for cancellation of your Gennix Account or by other means;
you request that Gennix Services be terminated; and
any other circumstances where Gennix deems it should terminate Gennix Services.
Should your Gennix Account be terminated, the account and transactional information that meet data retention standards will be securely stored for 5 years. In addition, if a transaction is unfinished during the account termination process, Gennix shall have the right to notify your counterparty of the situation at that time. You acknowledge that a user-initiated account exit (right to erasure under GDPR or other equivalent regulations) will also be subjected to the termination protocol stated above.
If Gennix is informed that any Digital Assets or funds held in your Gennix Account are stolen or otherwise are not lawfully possessed by you, Gennix may, but has no obligation to, place an administrative hold on the affected funds and your Gennix Account. If Gennix does lay down an administrative hold on some or all of your funds or Gennix Account, Gennix may continue such hold until such time as the dispute has been resolved and evidence of the resolution acceptable to Gennix has been provided to Gennix in a form acceptable to Gennix. Gennix will not involve itself in any such dispute or the resolution of the dispute. You agree that Gennix will have no liability or responsibility for any such hold, or for your inability to withdraw Digital Assets or funds or execute trades during the period of any such hold.
Remaining Digital Assets After Gennix Account Termination
Except as set forth in Clause 7.4 below, once a Gennix Account is closed/withdrawn, all remaining account balance (which includes charges and liabilities owed to Gennix) will be payable immediately to Gennix. Upon payment of all outstanding charges to Gennix (if any), Users will have 5 business days to withdraw all Digital Assets from the account.
Remaining Digital Assets After Gennix Account Termination Due to Fraud, Violation of Law, or Violation of These Terms
Gennix maintains full custody of the Digital Assets and User data/information which may be turned over to governmental authorities in the event of Gennix Accounts’ suspension/closure arising from fraud investigations, investigations of violation of law or violation of these Terms.
No Financial Advice
Gennix is not your broker, intermediary, agent, or advisor and has no fiduciary relationship or obligation to you in connection with any trades or other decisions or activities effected by you using Gennix Services. No communication or information provided to you by Gennix is intended as, or shall be considered or construed as, investment advice, financial advice, trading advice, or any other sort of advice.
Unless otherwise specified in these Terms, all trades are executed automatically, based on the parameters of your order instructions and in accordance with posted trade execution procedures, and you are solely responsible for determining whether any investment, investment strategy or related transaction is appropriate for you according to your personal investment objectives, financial circumstances and risk tolerance, and you shall be solely responsible for any loss or liability therefrom.
You should consult legal or tax professionals regarding your specific situation. Gennix does not recommend that any Digital Asset should be bought, earned, sold, or held by you. Before making the decision to buy, sell or hold any Digital Asset, you should conduct your own due diligence and consult your financial advisors prior to making any investment decision. Gennix will not be held responsible for the decisions you make to buy, sell, or hold Digital Asset based on the information provided by Gennix.
COMPLIANCE WITH LOCAL LAWS
It is the Users’ responsibility to abide by local laws in relation to the legal usage of Gennix Services in their local jurisdiction as well as other laws and regulations applicable to Users. Users must also factor, to the extent of their local laws all aspects of taxation, the withholding, collection, reporting and remittance to their appropriate tax authorities.
All users of Gennix services acknowledge and declare that their funds come from legitimate sources and do not originate from illegal activities; users agree that Gennix will require them to provide or otherwise collect the necessary information and materials as per relevant laws or government orders to verify the legality of the sources and use of their funds.
Gennix maintains a stance of cooperation with law enforcement authorities globally and will not hesitate to seize, freeze, terminate Users’ accounts and funds which are flagged out or investigated by legal mandate.
Governing law and jurisdiction
Please read this section carefully, as it involves a waiver of certain rights to bring legal proceedings, including as a class action.
This Agreement shall be governed by and construed in all respects in accordance with the laws of Seychelles.
The parties agree that they will attempt in good faith to full resolve any dispute, controversy or, claim or difference arising out of or relating to or having any connection with this Agreement or the breach, termination or validity thereof, including any dispute as to its existence, validity, interpretation, performance, breach or termination or the consequences of its nullity and any dispute relating to any non-contractual obligations arising out of or in connection with it (“Dispute”) through private negotiations within thirty (30) days (the “Negotiation Period”).
Any settlement reached in the course of the negotiations shall be made in writing by way of a settlement agreement fully executed and signed between parties within the Negotiation Period.
The seat of the arbitration shall be Singapore.
The Dispute shall be finally settled by arbitration in accordance with the Arbitration Rules (the “Rules”) of the Singapore International Arbitration Centre (the “SIAC”) then in effect and being in force which rules are deemed to be incorporated by reference into this Clause 11 then in effect, except as modified herein. The arbitration shall be held, and the award shall be rendered, in Singapore, in the English language. There shall be one arbitrator nominated by the Chairman of the SIAC.
The decision of the arbitration shall be final, binding and incontestable and judgement upon the award may be entered in any court having jurisdiction, or application may be made to such court for a judicial acceptance of the award and an order of enforcement, as the case may be. The parties hereby consent and submit to the personal and subject matter jurisdiction of the relevant courts for purposes of such entry of judgement upon the award and waive notice and service of process as otherwise required by the laws applicable to such courts.
If any portion of these Terms are adjudged to be invalid or unenforceable for any reason or to any extent, the remainder of these Terms will remain valid and enforceable and the invalid or unenforceable portion will be given effect to the greatest extent permitted by law. Pending closure of your account.
Gennix is an independent contractor but not an agent of you in the performance of these Terms. These Terms shall not be interpreted as facts or evidence of an association, joint venture, partnership, or franchise between the parties.
These Terms constitute the entire agreement between the parties regarding use of Gennix Services and will supersede all prior written or oral agreements between the parties. No usage of trade or other regular practice or method of dealing between the parties will be used to modify, interpret, supplement, or alter the terms herein.
Interpretation and Revision
Gennix reserves the right to alter, revise, modify, and/or change these Terms at any time. All changes will take effect immediately upon being published on Gennix websites. It is your responsibility to regularly check relevant pages on our websites/applications to confirm the latest version of these Terms. If you do not agree to any such modifications, your only remedy is to terminate your usage of Gennix Services and cancel your account. You agree that, unless otherwise expressly provided in these Terms, Gennix will not be responsible for any modification or termination of Gennix Services by you or any third party, or suspension or termination of your access to Gennix Services.
Gennix will not be liable for any delay or failure to perform as required by these Terms because of any cause or condition beyond Gennix’s reasonable control.
If any portion of these Terms is held invalid or unenforceable, such invalidity or enforceability will not affect the other provisions of these Terms, which will remain in full force and effect, and the invalid or unenforceable portion will be given effect to the greatest extent possible.
You may not assign or transfer any right to use Gennix Services or any of your rights or obligations under these Terms without prior written consent from Gennix, including any right or obligation related to the enforcement of laws or the change of control. Gennix may assign or transfer any or all of its rights or obligations under these Terms, in whole or in part, without notice or obtaining your consent or approval.
The failure of one party to require performance of any provision will not affect that party’s right to require performance at any time thereafter. At the same time, the waiver of one party to seek recovery for the other party’s violation of these Terms or any provision of applicable terms shall not constitute a waiver by that party of any subsequent breach or violation by the other party or of the provision itself.
Third-Party Website Disclaimer
For more information on Gennix, you may refer to the company and license information found on Gennix websites. If you have questions regarding these Terms, please feel free to contact Gennix for clarification via our Customer Support team at [[email protected] ].