Biswap Terms of Use

Last revised: August 9, 2023

These Terms of Use are entered into between you, hereinafter referred to as “you” or “your” and biswap.org (hereinafter referred to as “Biswap”) as defined below. By accessing or using any of the products or services provided by Biswap, you agree and confirm that you have read, understood and accepted all of the terms and conditions stipulated in These Terms, hereinafter referred to as “these Terms” or “Terms”. Additionally, when using some features of Biswap, you may be subject to specific additional terms and conditions applicable to those features. References to “you” and/or “your” are references to any person using, accessing or attempting to use or access this website. Please read the terms carefully as they govern your use of Biswap website and its associated products as well as services. As with any asset, the value 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 Biswap Services, you acknowledge, agree and confirm that:

1. As with any asset, the value 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;

2. You shall assume all risks related to Biswap Services and transactions of digital currencies and their derivatives;

3. Biswap should not be held liable for any such risks or adverse outcomes;

4. You voluntarily use Biswap products and services;

5. You understand the mechanism and algorithm of decentralized crypto exchanges such as Biswap.

By assessing, using or attempting to use Biswap 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 Biswap or utilize Biswap Services. You automatically agree to comply with these rules by using Biswap`s products, services and its website.

Definitions

• Biswap refers to an ecosystem consisting of Biswap website (whose domain names include but are not limited to biswap.org and biswap.org/swap), clients or other applications or services that are developed to offer Biswap Services.

• Biswap Services refer to various services provided to you by Biswap that are based on the Internet and/or blockchain technologies are offered by Biswap websites. Biswap Services include but are not limited to such Biswap ecosystem components as Digital Asset Trading Platform, farming and staking offerings, Biswap IDO Launchpad, lottery and trading competition offerings, as well as referral program.

• Biswap Platform Rules refer to all rules, interpretations, announcements, statements, letters of consent and other contents that have been and will be subsequently released by Biswap, as well as regulations, implementation rules, product process descriptions, and announcements published via Biswap Telegram channel (Biswap Announcements).

• Users refer to all individuals, institutions and/or organizations that access, use or attempt to use Biswap Services.

• Digital Currencies refer 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 manner.

• Digital Assets refer to Digital Currencies, their derivatives or other types of digitalized assets with a certain value.

• Crypto-to-crypto Trading refers to transactions in which one digital currency is exchanged for another digital currency.

General Provisions

1. Changes to these Terms

Biswap reserves the right to change or amend these Terms at its sole discretion. Biswap will notify about such changes by updating the terms on its website and modifying the “last revised” date displayed in the header of the document. All the changes to these Terms will become effective upon publication on the website or release to users. Hence, your continued use of Biswap Services implies your automatic acceptance of the modified Terms. If you do not agree to any changes to these Terms, you must refrain from using any of Biswap Services immediately. Biswap highly recommends you to frequently review these terms to ensure your understanding of the Terms that apply to your use of Biswap Services.

2. About Biswap

Although Biswap has always been committed to maintaining the accuracy of the information provided through Biswap Services, Biswap shall not be liable for any loss or damage that may be caused directly or indirectly by your use of these contents. The information Biswap Services may change without notice, and the main purpose of providing such information is to help users make independent decisions. Biswap does not provide investment or consulting advice of any kind nor shall be responsible for the use or interpretation of information on Biswap or any Biswap related communication channels. All users of Biswap Services must understand the risks associated with Digital Currency Trading, and are highly encouraged to exercise prudence and trade responsibly within their own capabilities.

3. Personal Security

Biswap has always been committed to maintaining the security of users, and has implemented industry’s best security standards. However, the actions of individual users may pose certain risks. You shall agree to treat your wallet’s access credentials (such as seed phrases, private keys and passwords) as confidential information, and not to disclose such information to any third party. You also agree to be solely responsible for taking the necessary precautions to protect your personal information. You should be solely responsible for keeping your wallets safe, and be responsible for all the transactions under your wallets. Under no circumstance shall Biswap be held liable for any loss or consequences caused by authorized or unauthorized use of your wallets’ funds and/or credentials, including but not limited to loss of personal funds, information disclosure, information release, consent or submission of various rules and agreements by clicking on the website. By using any of Biswap Services you hereby agree that you will strictly follow all safety recommendations of Biswap regarding security, trading, withdrawing, etc.

4. Biswap Services

Biswap has the right to provide, modify or terminate, at its sole discretion, any Biswap Services and allow or prohibit some user’s use of any Biswap Services in accordance with relevant platform rules. Biswap has the exclusive right to determine the Digital Currencies that should be included in the whitelist and may add or remove Digital Assets from the platform’s whitelist at its sole discretion from time to time. In case of such additions, removals, or amendments, Biswap may, but is not obliged to, notify users in advance and Biswap shall not assume any liability to users in relation to such additions, removals, or amendments.

5. Staking Programs

Biswap may, but is not obliged to, provide Staking Programs for specific Digital Currencies to reward, as per certain conditions, users who hold such Digital Currencies in their personal wallets. When making use of such Staking Programs, you should note that:

• Unless otherwise stipulated by Biswap, Staking Services are free of charge;

• Biswap does not guarantee users’ proceeds under any Staking Program;

• Biswap has the right to initiate or terminate Staking Program for any Digital Currencies or modify rules of such programs at its sole discretion;

• Due to network delay, computer system failures or other force majeure, which may potentially lead to delay of execution of Biswap Staking Programs, Biswap will use reasonable effort to ensure that Biswap Staking Program runs stably and effectively;

• You agree that all investment operation conducted on Biswap represent your true investment intentions and that you unconditionally accept the potential risks and benefits of your investment decision;

• When using Biswap Staking Program you should fully recognize the risks of investing in Digital Assets and operate cautiously;

• Biswap assumes all responsibility and liability for the funds deposited by users to the Staking Programs contracts.

6. Announcements

Be aware that all official announcements, news, promotions, competitions and airdrops will be published via Biswap official Telegram channel: (Biswap Announcements). Users undertake to refer to these materials promptly and on a regular basis. Biswap will not be held liable or responsible in any manner of compensation should users incur personal losses arising from negligence or ignorance of the announcements. Any reliance you place on the information provided by unofficial Biswap’s channels is therefore strictly at your own risk.

7. No Personal And/Or Financial Advice

Biswap is not your advisor, broker, or intermediary, and has no fiduciary relationship or obligation to you in connection with any trades or other activities or decisions affected by you using Biswap Services. Biswap does not provide personal advice in relation to our products and services. No communication or information provided to you by Biswap is intended as, or shall be construed as, investment advice, financial advice, trading advice, recommendation to transact in any investment or solicitation to engage in any investment activity. All trades are executed automatically using smart contract technology, based on the parameters of your order instructions, 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 have to make sure that the content of the smart contract meets your goals and interests, and you fully understand its content. We do not monitor whether your use of Biswap Services is consistent with your financial goals and objectives. It is up to you to assess whether your financial resources are adequate for your financial activity with us, and to your risk appetite in the products and services you use. Before making the decision to buy, sell or hold any Digital Asset, you should conduct your own due diligence and/or consult your financial advisors prior to making any investment decision. Biswap will not be held responsible for the decisions you make to buy, sell, or hold Digital Asset based on the information provided by Biswap.

8. No Tax, Regulatory or Legal Advice

The taxation of Digital Assets is uncertain, and you are responsible for determining what taxes you might be liable to, and how they apply, when transacting through the Biswap Services. It is your responsibility to report and pay any taxes from transacting on Biswap Services (if such exist), and you acknowledge that Biswap does not provide legal or tax status or obligations relative to these transactions. If you have any doubts about your tax status or obligations when using Biswap Services, or with respect to the Digital Assets held on your wallets, you may wish to seek independent advice. You are encouraged to seek professional and personal tax advice regarding any digital asset transaction.

9. Market Risks

Digital Asset trading is subject to high risk and price volatility. Changes in value may be significant and may occur rapidly and without warning. Past performance is not a reliable indicator of future performance. The value of an investment and any returns can go up or down, and you may not get back the amount you invested. By accepting these Terms you acknowledge that you are entering into any investment or trade on your own accord having done your own due diligence. You should not make any investment or trade unless you are prepared to sustain a total loss on your principal capital. You should be aware that certain types of products might carry greater risks and may not be easily understood by non-experts. If you have doubts about using any of the services offered by Biswap, you should either seek advice from an independent financial advisor or abstain from partaking.

10. Liquidity Risks

Digital Assets may have limited liquidity which may make it difficult or impossible for you to sell or exit a position when you wish to do so. This may occur at any time, including at times of rapid price movements. We encourage you to monitor the liquidity of every Digital Asset prior to making any trade.

11. Fees & Charges

Fees and charges are subject to the page display on the day. Biswap may, at its sole discretion, update the fees & charges from time to time. Such changes will be communicated to you accordingly. Be aware of all costs and charges that apply to you because such costs and charges will affect the gains you generate from using Biswap Services.

12. Impermanent Loss

Please be aware and well educated on the consequences of impermanent loss before adding liquidity to any of the liquidity pools available on Biswap. Pools that contain assets that remain in a relatively small price range will be less exposed to impermanent loss. Stable coins or different wrapped versions of a coin, for example, will stay in a relatively contained price range. In this case, there’s a smaller risk of impermanent loss for liquidity providers (LPs). Impermanent loss is one of the fundamental concepts that anyone who wants to provide liquidity to AMMs should understand.

13. Availability Risks

Biswap does not guarantee that Biswap Services will be available at any particular time or that Biswap Services will not be subject to unplanned service outages or network congestion. It may not be possible to buy, sell, stake/unstake or add tokens to liquidity pools when you wish to do so.

14. Release of Claims

You expressly agree that you assume all risks in connection with your access and use of the services. You further expressly waive and release us from any and all liability, claims, causes of action, or damages arising from or in any way relating to your use of the services.

15. Indemnity

You agree to hold harmless, release, defend, and indemnify Biswap from and against all claims, damages, obligations, losses, liabilities, costs, and expenses arising from:(a) your access and use of the website and services;(b) your violation of any term or condition of the present terms, the right of any third party, or any other applicable law, rule, or regulation;(c) any other party's access and use of the website and services with your assistance or using any device or account that you own or control.

16. No Warranties

The services are provided on an "AS IS" and "AS AVAILABLE" basis. To the fullest extent permitted by law, we disclaim any representations and warranties of any kind, whether express, implied, or statutory. You acknowledge and agree that your use of the Services is at your own risk. No advice, information, or statement that we make should be treated as creating any warranty concerning the services. We do not endorse, guarantee, or assume responsibility for any advertisements, offers, or statements made by third parties concerning our services.

17. Limitation of Liability

Under no circumstances shall we or any of our officers, directors, employees, contractors, agents, affiliates, or subsidiaries be liable to you for any indirect, punitive, incidental, special, consequential, or exemplary damages, including (but not limited to) damages for loss of profits, goodwill, use, data, or other intangible property, arising out of or relating to any access or use of the interface, nor will we be responsible for any damage, loss, or injury resulting from hacking, tampering, or other unauthorized access or use of the services through the website. Biswap does not bear any responsibility in the case of loss of funds, which occurred because of illegal actions of third parties, in particular, but not exclusively in the case of hacker attacks, DDOS attacks, and other actions of third parties, which are aimed at acquiring funds. We assume no liability or responsibility for any:

(A) errors, mistakes, or inaccuracies of content and/or software, services, proposed technologies;

(B) interruption or cessation of function related to the software and services;

(C) bugs, viruses, trojan horses, or the like that may be transmitted to or through the website;

(D) errors or omissions in, or loss or damage incurred as a result of the use of any services from the website.

18. Eligibility

To access or use Biswap, you must be able to form a legally binding contract with us. Accordingly, you represent that you are at least the age of majority in your jurisdiction and have the full right, power, and authority to enter into and comply with the terms and conditions of this Agreement on behalf of yourself and any company or legal entity for which you may access or use the Website.You further represent that you are not (a) the subject of economic or trade sanctions administered or enforced by of United Nations, European Union, and United States or otherwise designated on any list of prohibited or restricted parties by any governmental authority or (b) a citizen, resident, or organized from the Sanction List, as defined below.”Sanction Lists” means any sanctions designations listed on economic/trade embargo lists and/or specially designated persons/blocked persons lists published by international organizations, as well as any state and governmental authorities of any jurisdiction, including, but not limited to the lists of United Nations, European Union, and United States sanctions lists. You are not permitted to access or use Biswap in any jurisdiction or country if it would be contrary to the law or regulation of that jurisdiction or if it would subject us to the laws of, or any registration requirement with, such jurisdiction. We reserve the right to limit the availability of Biswap to any person, geographic area, or jurisdiction, at any time and at our sole and absolute discretion.Prohibited Localities. Biswap does not interact with digital wallets and users located in, established in, or a resident of Belarus, Myanmar (Burma), Côte D'Ivoire (Ivory Coast), Cuba, Crimea and Sevastopol, the so-called Donetsk People’s Republic, Democratic Republic of Congo, Iran, Iraq, Libya, the so-called Luhansk People’s Republic, Mali, Nicaragua, Democratic People’s Republic of Korea (North Korea), Russia, Somalia, Sudan, Syria, Yemen, Zimbabwe or any other state, country or region that is included in the Sanction Lists.

Final Provisions

You confirm that you are familiar with these Terms and that you fully understand them. Biswap is not responsible for any risks associated with your use of Biswap's products and services as well as its website. These Terms are mandatory for everyone using Biswap`s products, services, and its website. By using Biswap services, you accept these Terms and undertake to comply with them. These Terms are binding on all users, without exception.