Terms Of Service
Last updated: October 28, 2019
Jarvis One LTD (hereafter called “Jarvis”, “we”, “us” or “our” in this document) provides a peer-to-contract trading platform to gain economic exposure to the price movement of a financial instrument (hereafter called "Service"). Jarvis delivers its Service through its website located at jarvis.market (hereafter called "Site” in this document), and a web application located at app.jarvis.market (hereafter called "Application” in this document), which includes text, images, audio, code and other materials (hereafter called "Content” in this document) and all of the features and services provided.
As a convenience, in our Terms, every reference to “position(s)”, "order(s)", “trade(s)” and “trading” as part of the Service, should be understood as gaining directional and leveraged economic exposure to the price of the underlying financial instrument, without ownership over it, whose counterparty is an autonomous smart-contract (hereafter called "the Protocol"), and without representation that the Service includes any financial services.
1. Risk Warning
You should acknowledge that: by accessing or using our Service you are voluntary choosing to engage in sophisticated and risky financial transaction; our Service carries a high level of risk that may not be suitable for all the investors as it may result in losses of part or all of your deposit; that when using the leverage provided by our Service, your losses are multiplied accordingly and you might lose all your deposit even with small price variation; that engaging in transaction with cryptocurrencies, tokens, Blockchain related assets (hereafter called "Digital Assets” in this document) and services, and more generally our Service, carry a lot of risks due to but not limited to, Digital Assets price volatility and low liquidity, experimental technology, software breach, or uncertain regulatory environment, and could result in losses of your deposit; finally, you are sole responsible and liable of any action initiated by you or a third party on our Application, whether it is malicious or not.
2. Change of the Terms
We may modify the Terms at any time, in our sole discretion, without any notice. Any such changes will take effect immediately when posted on the Site or on our Applications, and you will be notified by email about the change which shall be considered as legally binding notice which makes you aware of the changes of the Terms. You will be notified of such changes either by posting the modified Terms on the Site, by providing you a notice through the Applications, or through other methods of communication which we deem reasonable. You may be required to read and accept the updated Terms in order to continue your use of the Service.
If you continue to use our Service after we have modified the Terms, you are agreeing to be bound by the modified Terms. If you don’t agree to be bound by the modified Terms, then you may notyou should immediate discontinue any use the Service within 24 hours from notice and inform Jarvis of this. Because our Service is evolving over time we may change or discontinue all or any part of the Services, at any time and without notice, at our sole discretion. You shall be responsible for reviewing and becoming familiar with any such modifications. Please check the effective date above to determine if there have been any changes since you have last reviewed these Terms. If you do not agree to this Agreement or any modifications to this Agreement, you should not use the Service
3. Description of the service
Jarvis is not a broker, exchange, marketplace, intermediary, agent, it does not offer financial advice, trade execution or clearing services and therefore has no oversight, involvement, or control with respect to your transactions.
Jarvis provides you with an Application to interact with the Protocol. The latter being your sole counterparty, all your profits and losses will be paid by or come from its liquidity pool. All transactions are autonomously executed in a peer-to-contract manner, meaning that neither Jarvis nor any third-party is involved.
3.1. Use of the Services
Important notice: our Service is not intended to be used by citizens or residents of United States of America and of some non-compliant jurisdiction, including but limited to, North Korea, Iran or China and you acknowledge that it is not within our judicial capacity to verify and authenticate the location of every user.
You represent and warrant that to use our Service: you must be able to form legally binding contracts in your jurisdiction; you must make sure that this Service and these Terms are in compliance with all laws or regulation, including but not limited to any local, provincial, state, federal, national, or international laws (hereafter called "Laws” in this document) that apply to you.
You agree to do not use our Service in ways that: violate any Laws that may apply to you and you further agree not to encourage or induce any third party to violate such Laws; pay for, support, or otherwise engage in any illegal activities including, but not limited to, illegal gambling, fraud, money laundering, or terrorist activities; violate, misappropriate, or infringe the rights of Jarvis, its partners, employees, affiliates, users, or others, including privacy, publicity, intellectual property, or other proprietary rights; interfere with, or attempt to interfere with, the access of any user, host or network, including, without limitation, sending a virus, overloading, flooding, spamming, or mail-bombing the Service; avoid, bypass, remove, deactivate, impair, descramble or otherwise circumvent any technological measure implemented by us or any of our service providers or any other third party (including another user) to protect the Service or Content; trade using inaccurate information presented by the Application or take advantage of any technical glitch, malfunction, failure, delay, default, or security breach; or, that disguise your location through IP proxying or other methods.
If you are using our Service on behalf of a legal entity, you further represent and warrant that the legal entity is duly organized and validly existing under the applicable laws of the jurisdiction of its organization; and you are duly authorized by such legal entity to act on its behalf.
If we discover that you have violated this Agreement or other regulatory requirements we will take proportional disciplinary action including but not limited to …cessation of any Service provided to you, filing complaints with any competent bodies in any jurisdiction as well as claims for recovery of any damages if sustained due to your unlawful conduct..
3.2. Account registration
In order to register an account, you will need to digitally sign a message using an external Web3 Ethereum wallet in our Application. You are responsible for maintaining the security of your Ethereum wallet and any device that you utilize in connection with the Services and ensuring that no unauthorized person has access to your Ethereum wallet or any device that you utilize in connection with the Services. The user undertakes complete responsibility in the validation and representation of a trade via their digital signature.
3.3. Transmission of orders
You acknowledge and agree that the prices displayed on the charts and other element of the Application are provided "as if" and "as available" and are displayed for information purpose, therefore the prices used in the calculation of your trade's outcome might differ from the prices displayed in the Application; that the price feed data is transmitted by a third-party and Jarvis has no oversight, involvement, or control with respect of it; that any orders, once placed or activated, cannot be revoked, amended, or refunded in any case, including in cases where the Service may run into technical issues or outages; that mistakes or misinterpretations in the orders sent through the Application due to technical or mechanical failures, as well as the risks of delays or other problems may arise, resulting in a non-favorable outcome; that you must know the true status of any position taken, even if presented incorrectly by the Application at any time; that your orders may be placed by unauthorized persons.
Therefore, you are solely responsible and liable for: any and all trading and non-trading activity on the Application and for your account on the Application; your trading and non-trading actions and inactions on the Application and all gains and losses sustained from your use of it and any of the Service. You indemnify Jarvis in full for any loss incurred when using the Service.
3.4. Automatic liquidation
In the event of non-favorable outcome for any of the party involved in a trade, if a certain threshold is reached, it will trigger an automatic liquidation process resulting on termination of existing open positions.
In case that the outcome of all the open positions taken against the Protocol, by all the user of the Application, will result in a negative balance of the liquidity pool, all the existing open positions on the Application, of all the users, will be terminated and settled.
In case that the outcome of all your open positions will reduce your balance at a threshold below the minimum required to hold a position, the existing open position with the highest negative outcome will be terminated and settled.
4. Third party services and content
The Services and the Application may contain links to third-party services, products, website, resources (hereafter called “Third Party Materials” in this document).
We provide these links only as a convenience and we do not have control over their content, do not warrant or endorse, and are not responsible for the availability or legitimacy of, or the content, products, services or their privacy policies (if any) on or accessible from, those websites or resources or links displayed therein. We may no warranties or representations, express or implied about such linked Third Party Materials, the third parties they are owned and operated by, the information contained on them or the suitability of their products or services. You acknowledge sole responsibility for and assume all risk arising from your use of any third-party websites, Application, or resources.
In no event shall a description or reference to a Third Party Materials, including, but not limited to, providing a description or reference via hyperlink, be construed as an endorsement or promotion of such Third Party Materials by us. We retain the exclusive right to add to, modify, or cancel the availability of any Third Party Materials. You will need to make your own independent judgement regarding your interaction with any third party, including the purchase and use of any products or services accessible through them. You accept that any transaction, transfer, or contract which you may enter into with any third party shall be a private arrangement between you and that entity. You further acknowledge and agree that we shall 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 such content, goods or services available on or through any such Third Party Materials.
5.1. Open-source license
The Application were developed under the GNU General Public Licence (hereafter called "GPL” in this document). It can be accessed, used, and shared, in modified or unmodified form, by anyone. Please be aware that GPL is a copyleft license. Please review MIT terms and conditions at https://www.gnu.org/licenses/gpl-3.0.en.html.
5.2. Intellectual property
The Site and Application also contains copyrighted material and trademarks including, but not limited the Content, which is protected by copyright law, registered and unregistered trademarks, and other intellectual property rights. Unless otherwise provided, we exclusively own the Content. Your use of the Services does not grant you any right, title, or interest in the Content. You agree that you will not copy, transmit, distribute, sell, license, create derivative works from, or, in any other way, exploit any of the Content, in whole or in part.
Jarvis invites you to send us feedback, comments, ideas, and suggestions for improvements to the Services (“Feedback”). You can submit Feedback by emailing us at [email protected] You grant to us a non-exclusive, worldwide, perpetual, irrevocable, fully-paid, royalty-free, sublicensable and transferable license under any and all intellectual property rights that you own or control to use, copy, modify, create derivative works based upon and otherwise exploit the Feedback for any purpose.
6. Warranty disclaimer
The Service is provided "as is" and "as available" and without warranty of any kind. To the maximum extent permitted by law, we disclaim all representations and warranties, express or implied, relating to the Services and underlying software or any Content on the Services, whether provided or owned by us or by any third party, including without limitation, warranties of merchantability, fitness for a particular purpose, title, non-infringement, freedom from computer virus, and any implied warranties arising from course of dealing, course of performance, or usage in trade, all of which are expressly disclaimed. In addition, we do not represent or warrant that the Content accessible via the Services is accurate, error-free, complete, available, current, free of viruses or other harmful components, or that the results of using the services will meet your requirements.
Some jurisdictions do not allow the disclaimer of implied warranties, so the foregoing disclaimers may not apply to you.
7. Limitation of liability
You acknowledge and agree that you assume full responsibility for your use of the Site, the Application and the Service and that you use them at your own risk.
To the maximum extent not prohibited by law, Jarvis shall not be liable for damages of any type, whether direct or indirect, arising out of or in any way related to your use or inability to use the services, including but not limited to damages allegedly arising from the compromise or loss of your Security credentials or funds or unauthorized access to or alteration of your transmissions or data; or due to the loss of or inability to restore access from your Backup code; or to mistakes, omissions, human errors, interruptions, delays, defects, and/or errors in the transmission of Transactions to the underlying Blockchain network, and/or to risk of unknown vulnerabilities in or unanticipated changes to such network; or to failure of hardware, software, and Internet connections, including public utility or telephone outages, deletions or defects of any Device or network, providers, or software or the risk of malicious software being introduced or found in the software underlying our Application or your Devices; or for diminution of value of any digital token or digital asset on held in your Account; or by statements or conduct of any third party on the site, the app or the service; or by any actions we take or fail to take as a result of communications you send to us; or by any injury or damage to your Devices; typographical, printing or other errors, or any combination thereof; failure in performance, or interruptions of Service which result directly or indirectly from any cause or condition beyond our reasonable control, including but not limited to any delay or failure due to any case of force majeure; or any other matter relating to the site, the Application or the Service.
Jarvis shall not be liable under any circumstances for any lost profits or any special, incidental, indirect, intangible, or consequential damages, whether based in contract, tort, negligence, strict liability, or otherwise, arising out of or in connection with authorized or unauthorized use of the Services, even if an authorized representative of Jarvis has been advised of or knew or should have known of the possibility of such damages.
Jarvis shall not be liable under any circumstances for damages arising out of or in any way related to software, products, Services, and/or information offered or provided by third parties and accessed through the Application. Any other terms, conditions, warranties, or representations associated with such content, are solely between you and such organizations and/or individuals.
Some jurisdictions do not allow the limitation of liability for personal injury, or of incidental or consequential damages, so this limitation may not apply to you.
To the extent permitted by applicable law, you agree to defend, indemnify and hold harmless Jarvis and its officers, directors, employees and agents, from and against any claims, obligations, disputes, demands, liabilities, damages, losses, costs, debt, and expenses, including, but not limited to, reasonable legal and accounting fees arising out of or in any way connected with your access to or use of the Services or Content, Third Party Materials, or your violation of these Terms, or your violation of any Law.
We may terminate or suspend your access and your use to all or part of the Services, at our sole discretion, at any time and without prior notice or liability. You may cancel your Account at any time by following the account closure instructions in the Application. Your access to the funds in your Account after termination will depend on your access to your Backup code. Upon any termination, discontinuation or cancellation of Services or your Account, the following provisions will survive: Intellectual property, Termination, Warranty Disclaimers, Indemnity, Limitation of Liability, Dispute Resolution, and General Terms.
10. Governing law
Saint Vincent and Grenadines law will apply to all disputes and the interpretation of these Terms. The Saint Vincent and Grenadies courts will have exclusive jurisdiction over any dispute arising from or related to your use of the Services. Courts of other jurisdictions shall not be competent to hear a dispute arising in connection with these Terms and the Service.
11. No waiver
Our failure to exercise or delay in exercising any right, power, or privilege under these Terms shall not operate as a waiver; nor shall any single or partial exercise of any right, power, or privilege preclude any other or further exercise thereof.
If it turns out that any part of these Terms is invalid, void, or for any reason unenforceable, that Terms will be deemed severable and limited or eliminated to the minimum extent necessary. The limitation or elimination of the term will not affect any other terms.
13. Entire agreement
These Terms set forth the entire understanding and agreement as to the subject matter hereof and supersedes any and all prior discussions, agreements, and understandings of any kind (including, without limitation, any prior versions of these Terms) and every nature between us. Except as provided for above, any modification to these Terms must be in writing and must be signed by both parties.