tradexyz ©2025

Terms of Use

Last Updated: September 6, 2026

These Terms of Use ("Terms") govern your access to and use of the website-hosted user interface currently available at app.trade.xyz (the "Interface") and your participation in Events (as defined below), and are entered into between you and XYZ Ltd ("Company," "we," "us," or "our").

By accepting these Terms, connecting a wallet or otherwise using the Interface, you confirm that you have read, understand, and agree to be bound by these Terms. If you do not agree, you may not access or use the Interface.

1. Introduction

1.1. The Interface.

The Interface is one, but not the exclusive, means of reading from and writing transactions to the permissionless XYZ Protocol (the "Protocol") that runs on the Hyperliquid blockchain ("Hyperliquid") and is distinct from the Protocol. The Interface is also one, but not the exclusive, means of facilitating certain activity on Hyperliquid and is distinct from Hyperliquid. Hyperliquid and the Protocol are each decentralized, permissionless, and community-driven. We do not own, control, or operate the Hyperliquid network itself, and we do not own, control, operate or custody your assets in connection with your use of the Protocol. We cannot stop, reverse, or modify confirmed transactions on the Protocol or Hyperliquid. You acknowledge and agree that blockchain transactions are irreversible once confirmed. By using the Interface, you acknowledge and agree that you are not buying or selling digital assets from us and that your use of the Interface, and any interaction with the Protocol or Hyperliquid through the Interface, is entirely at your own risk.

1.2. Onchain Transactions.

All transactions are executed on Hyperliquid's decentralized infrastructure through a decentralized set of validators. We are not a counterparty, broker, exchange, registered securities platform, dealer, or custodian, and we do not control matching, executing, clearing, or settling Protocol transactions and expressly disclaim liability for losses or damages arising from or related to any interaction with Hyperliquid or the Protocol. You are solely responsible for any taxes and for keeping records relating to your onchain activity, and we make no guarantee that any records generated by the Interface (if any) shall be accessible to you in perpetuity.

1.3. Non-Custodial Wallet Required.

To use the Interface, you must connect a non-custodial wallet. Your relationship with that non-custodial wallet provider is governed by that provider's applicable terms of service. You acknowledge and agree that we have no custody of, access to, or control over your keys, seed phrases, or assets in your non-custodial wallet. You alone control your wallet and private keys. If you lose credentials or sign a malicious transaction, we cannot help recover funds.

1.4. Third-Party Services and Content.

The Interface may rely on integrations, links or other access to third-party services or open-source software (e.g., wallets, RPC providers, data partners, oracles, bridges, cloud infrastructure, analytics, Hyperliquid, etc.) (each a "Third-Party Service"). Your access and use of the Third-Party Services may be subject to additional terms and conditions, privacy policies, or other agreements with such third party, and you may be required to authenticate to or create separate accounts to use Third-Party Services on the websites or via the technology platforms of their respective providers. You agree to comply with all terms, conditions, and policies applicable to any Third-Party Services integrated with or made available through the Interface, including the payment of any additional fees imposed by such Third-Party Services. You acknowledge that such Third-Party Services are owned by their respective licensors. Unless otherwise specifically indicated by us, we do not control or endorse these Third-Party Services and are not responsible for their availability, accuracy, or security. Any dealings you have with Third-Party Services while using our Interface are between you and the third party and you acknowledge and agree that we will not be responsible or liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with use of or reliance on any Third-Party Services.

1.5. Documentation.

The product documentation we publish or designate through the Interface, including applicable market specifications, resolution methodologies, fee information, and risk disclosures (collectively, the "Documentation"), is incorporated into these Terms, as updated from time to time in accordance with Section 6. You agree to read and comply with the applicable rules and conditions in the Documentation and acknowledge and accept the risks described there. Documentation specific to a product or market applies only to that product or market unless expressly stated otherwise. These Terms control any conflict with the Documentation, except that the Event Rules described in Section 1.6 govern the specification and resolution of the relevant Event. A link to third-party material does not, by itself, incorporate that material into these Terms.

1.6. Events.

Events are fully collateralized outcome contract markets that we deploy on Hyperliquid. Events expire and provide a bounded settlement amount based on a specified event or price outcome, without leverage, funding, liquidation, or auto-deleveraging. Each Event is governed by its complete market-specific terms and applicable resolution methodology made available through the Interface or Documentation (the "Event Rules"). The Event Rules specify the outcomes, resolution criteria and sources, relevant timing, and settlement treatment, including any permitted fractional or exceptional settlement, and control over a title, ticker, summary, or other abbreviated description. The specific terms of an Event control over a general methodology to the extent of a conflict. Settlement is in the specified quote asset and does not confer ownership of or rights in any referenced asset or entity.

We act as the Events deployer which includes selecting permitted market templates, parameters and declared sources, publishing resolution methodologies, and submitting resolution actions through the outcome deployer or an authorized settlement sub-deployer. We may perform these functions through service providers acting on our behalf. Hyperliquid processes trading and applies authorized settlement actions onchain. Its acceptance of an action confirms onchain authorization, not the accuracy of offchain information or the correct application of the Event Rules.

Outcomes are determined by applying the Event Rules. If a source or technical failure, ambiguity, or other exceptional circumstance prevents ordinary resolution, we may delay resolution and determine the appropriate treatment under the Event Rules and the applicable market template. Unless the Event Rules expressly provide otherwise, there is no formal outcome challenge or appeal process. Once settlement is applied onchain, a later source correction, changed determination, or discovery of an error does not automatically reverse it.

1.7. Event Fees.

Fees in connection with Events shall be disclosed through the Interface or Documentation. We may introduce or change such fees by disclosure through the Interface or Documentation before they apply. You agree to pay applicable disclosed fees, which may reduce settlement proceeds. Hyperliquid and other Third-Party Services may impose separate fees, including fees assessed when a position closes or settles, which are your responsibility.

2. Eligibility & Restricted Persons

2.1. Age & Capacity.

To access our Interface, you must be able to form a binding contract and be at least the age of majority where you live. By accessing the Interface, 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 on behalf of yourself and any company or legal entity for which you may access or use the Interface. If you are entering into these Terms on behalf of an entity, you represent to us that you have the legal authority to bind such entity.

2.2. Restricted Persons.

The Interface is not developed for and is not available to "Restricted Persons." Restricted Persons are strictly prohibited from accessing or using the Interface. For the purposes of these Terms, "Restricted Persons" include: (a) persons or entities who reside in, are located in, are incorporated in, have a registered office or principal place of business in, or are otherwise subject to the laws of the United States of America, Canada, the United Kingdom, or certain other jurisdictions we may designate in our sole discretion from time to time, (b) persons or entities (or any person owned or controlled by such persons or entities) who reside in, are located in, are incorporated in, or have a registered office or principal place of business in jurisdictions subject to comprehensive economic and trade sanctions or export control laws and regulations, including the Crimea region, Cuba, Iran, North Korea, Syria, Myanmar (Burma), Donetsk, Luhansk, or any other country to which the United States, the United Kingdom, the European Union, U.N., or any similar authority embargoes goods or imposes similar sanctions (collectively, "Restricted Territories"), (c) citizens of Restricted Territories, regardless of their location, (d) persons or entities (or any person owned or controlled by such persons or entities) subject to economic or trade sanctions, and (e) persons or entities who reside in, are located in, are incorporated in, have a registered office or principal place of business in, or are otherwise subject to the laws of any other jurisdiction where access to or use of functionality described in these Terms would be unlawful or would require us or any third party to obtain any license, registration, approval or authorization that has not been obtained.

We may designate additional restricted jurisdictions or categories of participants for certain products or offerings such as certain perpetual markets, Events, or a particular Event through the Interface or Documentation. Unless otherwise specified, a jurisdictional restriction applies to persons or entities who reside in, are located in, are incorporated in, or have a registered office or principal place of business in that jurisdiction. A restriction expressly designated as applicable only to a specific product or offering applies only to those products and does not, by itself, make a person a Restricted Person for all other uses of the Interface under Section 2.2.

In addition to the requirements above, you must be at least 18 years old to access or participate in Events. By participating in an Event, you represent and warrant that you satisfy its applicable eligibility requirements and are not acting on behalf of a person prohibited from participating in it.

2.3. No circumvention.

You must not use a VPN, proxy, Tor, or similar to circumvent geo-blocks or our eligibility rules. By accepting these Terms or otherwise using the Interface you represent and warrant that you are not a Restricted Person and are not using the Interface on behalf of any Restricted Person.

2.4. Your compliance.

You are solely responsible for ensuring your use of the Interface and any onchain activity complies with all applicable laws where you are located and where you are subject to regulation (including any laws regarding spot, synthetic, or derivatives exposure, prediction markets, or event contracts). By using the Interface, you represent and warrant that your activities are lawful under such applicable laws.

3. Disclaimers; Assumption of Risk

3.1. "As is."

The Interface is provided "as is" and "as available" without warranties of any kind, either express, implied, statutory or otherwise (including merchantability, title, fitness for a purpose, non-infringement, accuracy, completeness, reliability, security or uptime). To the fullest extent permitted by law, we make no representations or warranties that access to the Interface will be continuous, uninterrupted, timely or secure; that the Interface or any Third-Party Services will be free from errors, defects, viruses, or other harmful elements or error-free; that any defects will be corrected; that the information contained in the Interface will be accurate, reliable, complete, or current; or that the Interface or any interaction through the Interface will meet your expectations or requirements. You expressly acknowledge and agree that you will have no recourse against us for any losses due to your use of the Interface, including losses arising from or relating to (but not limited to): (i) incorrect information, including any displayed token values or transaction details; (ii) failures of blockchain networks in any form; (iii) wallet errors or incompatibilities; (iv) unauthorized access to wallets or accounts; (v) errors or inaccuracies in the Interface or its underlying software; (vi) failures of, or actions by, Third-Party Services; (vii) slippage or market inefficiencies when executing trades; (viii) any malfunction or failure of the Protocol, Hyperliquid, or Hyperliquid's decentralized set of validators; (ix) regulatory actions or legal uncertainties affecting the availability or use of Hyperliquid or related assets.

3.2. Risks You Accept.

By using the Interface, you represent that you are financially and technically sophisticated enough to understand the inherent risks associated with using cryptographic and blockchain-based systems, and that you have a working knowledge of the usage and intricacies of digital assets. Specifically, you acknowledge, agree, and accept that:

  • the markets for these digital assets are nascent and highly volatile due to risk factors including, but not limited to, adoption, speculation, technology, security vulnerabilities (including smart contract bugs and exploits, oracle or bridge failures, and front-running risks), and regulatory uncertainty;
  • smart contract transactions automatically execute and settle, and that blockchain-based transactions are irreversible when confirmed;
  • the cost and speed of transacting with cryptographic and blockchain-based systems are variable and may increase dramatically at any time, and that you are responsible for all blockchain gas/transaction fees and any Protocol-level fees at all times;
  • the risk of trading with leverage may lead to significant losses (including the liquidation of trading positions), as well as the risks of using any expert or advanced modes, which may expose you to additional risks; and
  • we do not broker orders, route to competing venues, or guarantee best price or best execution for any transactions.

For specific products and markets such as Events or perpetual markets, you also acknowledge and accept the risks described in the Documentation. You may lose the entire amount paid for a position, with fees increasing losses or reducing proceeds, and may be unable to exit a position or obtain settlement when expected. A displayed price or probability is not a guarantee of an outcome. An exceptional or indeterminate outcome does not entitle you to a refund or any particular payout.

3.3. No Advice.

Information on the Interface does not constitute investment, legal, technical, tax, or other advice. We do not evaluate or monitor the suitability of activities accessible through the Interface or provide any advice on the consequences of interacting with decentralized financial systems. Any content, information, or data made available through the Interface may be incomplete, outdated, or subject to other inaccuracies. You are solely responsible for conducting your own diligence.

3.4. No Fiduciary Duties.

These Terms are not intended to and do not create fiduciary duties. To the fullest extent permitted by law, any such duties are disclaimed, and you further irrevocably disclaim, waive, and eliminate any such duties.

4. Prohibited Activities

In connection with your use of the Interface, you agree not to, and not to attempt to do any of the following categories of activities (each a "Prohibited Activity"):

4.1.1. Any Unlawful Conduct.

Activity that violates applicable federal, state, local, or international law in any way, including (i) any laws related to the integrity of trading markets, (ii) money laundering, (iii) terrorism financing, (iv) the unregistered offering of securities or derivatives to retail customers wherever located, (v) the use of stolen funds or (vi) other illegal financial activity.

4.1.2. Intellectual Property Infringement.

Activity that infringes on or violates any copyright, trademark, service mark, patent, right of publicity, right of privacy, or other proprietary or intellectual property rights under the law.

4.1.3. Cyberattacks.

Activity that seeks to interfere with or compromise the integrity, security, or proper functioning of any computer, server, network, personal device, or other information technology system.

4.1.4. Fraud and Misrepresentation.

Activity that seeks to defraud us or any other person or entity.

4.1.5. Data Mining or Scraping.

Except as expressly permitted by us, activity that involves data mining, robots, scraping, or similar data gathering or extraction methods of content or information from the Interface.

4.1.6. Objectionable Content.

Activity that involves soliciting information from anyone under the age of 18 or that is otherwise harmful, threatening, abusive, harassing, tortious, excessively violent, defamatory, vulgar, obscene, pornographic, libelous, invasive of another's privacy, hateful, discriminatory, or otherwise objectionable.

4.1.7. Automated or High-Frequency Abuses.

Activity that employs bots, scripts, or other automated methods to interact with the Interface in ways that exceed reasonable usage, bypass rate limits, cause denial-of-service conditions, or disrupt the normal functioning of the Interface, the Protocol, Hyperliquid or a related system.

4.1.8. Exploitation of Vulnerabilities.

Activity that exploits any errors, bugs, vulnerabilities, or unintended features of the Interface, the Protocol, Hyperliquid, or any associated code, including attempts to gain any unauthorized access or manipulate transactions or to exploit vulnerabilities in the leverage or liquidation mechanisms of Hyperliquid or the Protocol.

4.1.9. Circumvention of Restrictions.

Activity that attempts to bypass, evade, or circumvent any restrictions imposed by the Interface or us. This includes but is not limited to: (i) using technologies such as VPNs, proxies, or other methods to conceal your location; (ii) making false statements or misrepresentations about your residency, citizenship, or compliance with applicable laws; or (iii) engaging in any other activity designed to evade the restrictions set forth in these Terms or applicable laws.

4.1.10. Market Manipulation.

Activity involving wash trading, spoofing, collusion, or other conduct intended to create a false or misleading appearance of price, liquidity, or trading activity, or to manipulate a referenced market, data source, underlying event, or Event resolution. This includes knowingly providing false or misleading information to a resolution source or attempting to improperly influence a person responsible for determining or reporting an outcome.

4.1.11. Misuse of Event Information or Influence.

Trading in an Event, directly or through another person, while possessing material non-public information about its outcome obtained in breach of a duty of confidentiality or other legal duty, or that you know or reasonably should know was improperly disclosed or obtained; disclosing such information to enable another person to trade; or trading in an Event where you have authority or material ability to determine or influence its underlying outcome or resolution, including through an employment, official, contractual, or participant role.

5. Programs

5.1. Programs.

We may, in our sole discretion, run promotions or programs to participants from time to time (each a "Program"). The terms and conditions applicable to any Program will be determined by us in our sole discretion and communicated to participants of such Program. If those terms conflict with these Terms, the program terms govern for that program only. If there are no separate terms for that Program, or the terms for the Program do not conflict with these terms, these Terms shall govern.

5.2. Program Changes.

We reserve the right to modify, suspend, or discontinue any Program at any time without notice or liability to participants in such Program. We reserve the right to modify or cancel any benefits if compliance with applicable laws requires such actions, and, at our sole discretion, we may evaluate compliance retroactively and take remedial actions as we deem necessary. Participation in any Program is entirely voluntary, and we make no guarantee as to the availability, rewards, or functionality of any Program.

5.3. Program Disclaimer.

You acknowledge and agree that any benefits earned under a Program: (i) have no cash value unless explicitly stated otherwise; (ii) may be subject to additional conditions for redemption; (iii) are not guaranteed and may be canceled or forfeited at our sole discretion; and (iv) are subject to applicable laws and regulations, which may restrict or prohibit participation in certain jurisdictions.

6. Modifications; Suspension

We may add, remove, modify, suspend (including through geo-blocks), or terminate any part or all of the Interface, access to any Event, any Program made available to you, and/or any related policy, terms or guidelines in our sole discretion, at any time without notice to you. You acknowledge and agree we shall have no liability for such modifications, suspensions or terminations. Restricting access to an Event through the Interface does not itself cancel the Event or reverse onchain transactions.

Unless otherwise specified, all changes or modifications to these Terms or the Documentation will be effective immediately upon posting the revisions to the Interface or Documentation, as applicable, and you waive any right you may have to receive specific notice of such changes or modifications. If you continue to participate in the Interface in any way after a change to these Terms or the Documentation, you will be deemed to have read, understood, and unconditionally consented and agreed to such changes; therefore, you should review these Terms, the Documentation, and applicable policies and guidelines frequently to understand the terms and conditions that apply to your use of the Interface. If you do not agree to the Terms, you must cease using the Interface immediately. Updates to general Documentation do not, by themselves, amend an outstanding Event's specified outcome, resolution criteria, or settlement methodology; any such change must be made in accordance with its Event Rules and applicable market template.

7. Intellectual Property; Feedback

7.1. License to You.

You acknowledge and agree that we (or our licensors) own all intellectual property rights in the Interface and its respective contents, including, but not limited to, software, text, images, trademarks, service marks, copyrights, patents, designs, and its "look and feel." Subject to the terms of these Terms, we grant you a limited, revocable, non-exclusive, non-sublicensable, non-transferable license to access and use the Interface solely in accordance with these Terms. You agree that you will not use, modify, distribute, tamper with, reverse engineer, disassemble or decompile the Interface for any purpose other than as expressly permitted pursuant to these Terms. No other rights are granted except as expressly stated in these Terms. You expressly acknowledge and agree that no intellectual property rights in the Protocol are granted pursuant to these Terms.

7.2. License to Us.

By using the Interface, you grant us a worldwide, non-exclusive, sublicensable, royalty-free license to use, copy, modify, and display any content, including but not limited to text, materials, images, files, communications, comments, feedback, suggestions, ideas, concepts, questions, data, or otherwise, that you post on or through the Interface, for our current and future business purposes, including to provide, promote, and improve the Interface. You grant to us a non-exclusive, transferable, worldwide, perpetual, irrevocable, fully-paid, royalty-free license, with the right to sublicense, under any and all intellectual property rights that you own or control to use, copy, modify, create derivative works based upon any suggestions or feedback for any purpose. You represent and warrant that you have, or have obtained, all rights, licenses, consents, permissions, power and/or authority necessary to grant the rights granted herein for any material that you list, post, promote, or display on or through the Interface. You further represent and warrant that such content does not contain material subject to copyright, trademark, publicity rights, or other intellectual property rights, unless you have necessary permission or are otherwise legally entitled to post the material and to grant us the license described above, and that the content does not violate any laws.

7.3. DMCA/Notices.

If you believe content accessible via the Interface infringes your IP, contact legal [at] xyzltd [dot] xyz with details sufficient for us to identify and act on your claim.

8. Release; Indemnity; Limitation of Liability

8.1. Release.

To the fullest extent permitted by law, you expressly waive and release us from any and all liability, claims, causes of action, or damages arising out of or related to your use of the Interface or interactions with the Protocol or Hyperliquid, or the deployment or resolution of Events, including: (i) your use of the Interface, including any errors, delays, or interruptions in its operation; (ii) your interaction with the Protocol or Hyperliquid through the Interface, including in respect of any trading losses, liquidation events, or other financial impact; (iii) any reliance on market data, token values, or information displayed on the Interface, which may be inaccurate or delayed; (iv) any Third-Party Services; and (v) any regulatory, tax, or legal consequences arising from your use of the Interface or participation in activities on the Protocol or Hyperliquid through it.

8.2. Indemnity.

You agree to hold harmless, release, defend, and indemnify us and our officers, directors, employees, contractors, licensors, agents, affiliates, and subsidiaries (collectively, "Indemnified Parties") from and against any and all claims, damages, obligations, losses, liabilities, costs, and expenses (including, but not limited to, reasonable attorney's fees and court costs) arising out of or related to: (i) your access to or use of the Interface, (ii) your interaction with the Protocol or Hyperliquid through the Interface, including, but not limited to, trading activities, participation in Events, leveraged positions or liquidation events, (iii) your violation of any term or condition of these Terms, the right of any third party, or any other applicable law, rule, or regulation, (iv) your participation in any Prohibited Activity, (v) any other party's access to and use of the Interface or, through the Interface, the Protocol or Hyperliquid, using any device or account that you own or control, whether or not caused by you, (vi) any third-party services, tools, or platforms you use in connection with the Interface or Hyperliquid through the Interface, (vii) any false, misleading, or fraudulent statements or omissions made by you in connection with your use of the Interface, or access to Hyperliquid through the Interface or (viii) any dispute between you and (a) any other user of the Interface or any Third-Party Services or (b) any of your own customers or users.

8.3. 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 direct, 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, or your interaction with the Protocol or Hyperliquid through the Interface, or the deployment or resolution of Events, or participation in any trading or financial activity conducted via such interaction with the Protocol or Hyperliquid, nor will we be responsible for any damage, loss, or injury resulting from hacking, tampering, or other unauthorized access or use of the Interface or its supporting infrastructure. In no event will our aggregate liability to you exceed US$100. This limitation of liability applies regardless of whether the alleged liability is based on contract, tort, negligence, strict liability, or any other basis, and even if we have been advised of the possibility of such liability. Some jurisdictions do not allow certain limitations; the limitations described herein apply to the maximum extent permitted.

9. Dispute Resolution; Governing Law

PLEASE READ THIS SECTION CAREFULLY BECAUSE IT MAY SIGNIFICANTLY IMPACT YOUR LEGAL RIGHTS, INCLUDING YOUR RIGHT TO BRING A LAWSUIT AGAINST US. THIS SECTION REQUIRES YOU TO SUBMIT ANY CONTROVERSY, DISPUTE, CLAIM OR DISAGREEMENT (EACH A "DISPUTE") ARISING OUT OF THESE TERMS OF USE OR THE INTERFACE, INCLUDING ANY DISPUTE THAT AROSE BEFORE THE EFFECTIVE DATES OF THESE TERMS OR THAT ARISES AFTER THE TERMINATION OF THESE TERMS, TO BINDING INDIVIDUAL ARBITRATION.

9.1. No Class Actions.

You agree that any Dispute arising out of or related to these Terms or use of the Interface is personal to you and the Company, and that any Dispute will be resolved solely through binding individual arbitration, and will not be brought as a class arbitration, class action or any other type of representative proceeding.

9.2. Governing Law.

These Terms and any Dispute arising therefrom or related to your use of the Interface shall be governed by and construed in accordance with the internal laws of the British Virgin Islands without giving effect to any choice or conflict of law provision or rule (whether of the British Virgin Islands or any other jurisdiction).

9.3. Informal resolution.

Before filing a claim, you agree to email us at legal [at] xyzltd [dot] xyz with a description of the dispute and allow 30 days to resolve it informally.

9.4. Arbitration.

Any Dispute not resolved informally between the parties arising out of or relating to these Terms shall be settled by arbitration administered by the BVI International Arbitration Centre in accordance with the BVI IAC Arbitration Rules. The arbitration shall be seated in Road Town, Tortola, British Virgin Islands and shall be heard in the English language and determined by a sole arbitrator.

9.5. Limitation on Time to File Claim.

Any claim arising out of or relating to these Terms of Use must be brought by you within 12 months of such claim arising, or your date of knowledge of the facts founding such claim if later. To the fullest extent permitted by applicable law, any claim not brought within that period shall be permanently barred.

9.6. Injunctive relief.

We may seek injunctive or other equitable relief in any court of competent jurisdiction to protect our IP or enforce Section 4.

10. Miscellaneous

10.1. Privacy.

Our Privacy Policy is posted on the Interface and is incorporated by reference. See app.trade.xyz/privacyPolicy.

10.2. Assignment.

You may not assign or transfer these Terms, by operation of law or otherwise, without our prior written consent. Any attempt by you to assign or transfer these Terms without our prior written consent shall be null and void. We may freely assign or transfer these Terms. Subject to the foregoing, these Terms will bind and inure to the benefit of the parties, their successors and permitted assigns.

10.3. Severability; Waiver.

No waiver by us of any term or condition set out in these Terms shall be deemed a further or continuing waiver of such term or condition or a waiver of any other term or condition, and any failure by us to assert a right or provision under these Terms shall not constitute a waiver of such right or provision nor shall it preclude or restrict any further exercise of that or any other right or remedy. The provisions of these Terms shall be severable in the event that any of the provisions hereof are held by a court of competent jurisdiction to be invalid, void or otherwise unenforceable, and the remaining provisions shall remain enforceable to the fullest extent permitted by law and these Terms will be construed in all respects as if such invalid or unenforceable provision will be replaced with a valid and enforceable provision as similar as possible to the one replaced.

10.4. Not Registered with the SEC or Any Other Agency.

We are not registered with the U.S. Securities and Exchange Commission as a national securities exchange or in any other capacity. You understand and acknowledge that we do not broker trading orders on your behalf. We also do not facilitate the matching, execution or clearing of your trades, which occur entirely on Hyperliquid. As a result, we do not (and cannot) guarantee market best pricing or best execution through our Interface or when using any feature on the Interface. Any references in the Interface to "best price" do not constitute a representation or warranty about pricing available through the Interface, on the Protocol, or elsewhere.

10.5. Entire agreement.

These Terms and any documents or terms incorporated by reference from time to time are the entire agreement between you and us regarding the Interface and Events and supersede any prior understandings.

10.6. Notices.

We may provide notices via the Interface or public communications. Notices we provide using public communications channels are effective as of such posting. You may contact us at legal [at] xyzltd [dot] xyz.