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.
Jarvis has developed these Terms of Service (hereafter called “Terms” in
this document) that govern your use of the Site, the Service and the Application. By using our
Application, or visiting our Site, you acknowledge that you have read, understood, and agreed to these
Terms, as well as the accompanying Risk warning and Privacy Policy.
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. License
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.
5.3. Feedback
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.
8. Indemnity
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.
9. Termination
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.
12. Severability
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.