The OKX Web3 Ecosystem provides a gateway to the decentralized world, enabling users to explore, interact with, and discover a vast array of third-party platforms and decentralized applications (DApps). It’s crucial to understand the rules governing this dynamic environment. These Terms of Service form a binding agreement between you, the user, and OKX Technology Services Pte. Ltd.
Before using any services, it's vital to read and comprehend these terms. Key clauses include binding arbitration and mediation requirements, which affect your legal rights, including the right to a jury trial. Furthermore, these terms limit OKX’s liability to you. This overview will help you navigate the core principles of the agreement.
Key Definitions and Interpretations
To fully grasp these terms, you must first understand the specific language used throughout the document.
- Applicable Law: This encompasses all relevant laws, regulations, court decisions, codes, and guidelines from any government or judicial authority.
- Digital Assets: This broad term refers to any digital assets based on cryptographic protocols, including cryptocurrencies, virtual assets, and non-fungible tokens (NFTs).
- DApps (Decentralized Applications): These are applications that operate on a blockchain or peer-to-peer network and can run autonomously.
- Private Key: A 256-character key that is essential for owning and using your digital assets. Its security is paramount.
- Public Key: Derived cryptographically from the private key, it is used to generate your public digital wallet address on the blockchain.
- Third-Party Platforms: Any platforms, websites, or applications owned or operated by entities other than OKX. OKX does not control or endorse these platforms.
- Loss: Includes any direct, indirect, special, consequential, or punitive damages, including loss of profits, data, or goodwill.
Interpretation rules state that words in the singular include the plural, and references to laws include any amendments or replacements.
Description of Services and Your Eligibility
The OKX Web3 Ecosystem is a suite of decentralized services designed for user exploration and participation.
Core Services Offered
- OKX Web3 Wallet: A non-custodial digital wallet for managing digital assets across multiple chains.
- OKX Web3 Marketplace: A decentralized platform for creating, trading, and displaying digital assets like NFTs.
- OKX Web3 Swap: An aggregator that allows users to exchange digital assets across various blockchain networks.
- OKX Web3 Earn: A staking platform for managing staked digital assets on different third-party protocols.
- OKX Web3 Discover: An aggregator providing access to multiple third-party DApps, including crypto-games.
- OKX Web3 Build: A platform offering tools and services for developers to build Web3 products.
The ecosystem also features a powerful asset dashboard for viewing assets across multiple public chains and DeFi protocols.
User Eligibility and Requirements
To use these services, you must:
- Be at least 18 years old.
- Not be a resident of a Restricted Location (e.g., Cuba, Iran, North Korea, Syria, or any U.S.-embargoed country).
- Not be on any trade embargo or economic sanctions list.
- Possess a valid non-custodial digital wallet, such as an OKX Web3 Wallet.
- Ensure your wallet has sufficient funds for transactions.
OKX retains the right to restrict access to its services at its sole discretion and in accordance with applicable laws.
Acknowledgment of Key Risks
Engaging with digital assets and decentralized services involves significant, inherent risks. You must carefully consider these risks before proceeding.
Market and Technology Risks
- Volatility: Digital asset prices can fluctuate wildly and may become worthless.
- Non-Legal Tender: Digital assets are not considered legal tender and are not backed by any government or central authority.
- Irreversibility: Transactions, once confirmed on the blockchain, are typically irreversible. Accidental or fraudulent transfers may be unrecoverable.
- Reliance on Technology: Services depend on the internet and blockchain technology, which can be unreliable, subject to outages, or malicious attacks like hacking, phishing, and malware.
- Regulatory Uncertainty: The legal and regulatory treatment of digital assets is evolving rapidly and varies greatly by jurisdiction, which could lead to devaluation.
Service-Specific and Third-Party Risks
- Third-Party Platforms: OKX provides access to but does not control, endorse, or maintain third-party platforms, DApps, or their content. You are solely responsible for vetting their legitimacy.
- Private Key Security: You are solely responsible for safeguarding your private keys and seed phrases. Loss of this information will result in permanent loss of access to your digital assets, with no recourse to OKX.
- No FDIC Insurance: Assets are not deposits and are not insured by any government or regulatory agency, unlike traditional bank accounts.
👉 Explore secure wallet management strategies
Your Responsibilities and Acceptable Use
As a user, you bear full responsibility for your activities within the ecosystem. You represent and warrant that you will use the services only for lawful purposes.
User Obligations
You agree not to use the services for any illegal activities, including but not limited to:
- Money laundering, terrorist financing, or fraud.
- Market manipulation or unfair trading practices.
- Infringing on any third party's intellectual property rights.
- Disseminating unlawful, harassing, or abusive content.
- Interfering with the normal operation of OKX's services.
You must comply with all applicable laws and regulations in your jurisdiction. OKX reserves the right to immediately suspend or terminate your access for any breach of these terms.
Content You Provide
You retain ownership of any content you submit ("User Content"). However, you grant OKX a broad, worldwide license to use, distribute, and display this content to operate and provide the services. You are solely responsible for ensuring you have the rights to any content you submit.
Fees, Taxes, and Liability
Associated Costs
- Service Fees: OKX may charge fees for its services and reserves the right to change these fees at its discretion.
- Third-Party Fees: You are responsible for fees charged by third parties, such as blockchain network "gas" fees or protocol costs. These fees are paid to the respective network or protocol, not to OKX.
- Taxes: You are solely responsible for determining and paying any taxes that apply to your transactions conducted through the services.
Limitations of Liability
OKX's cumulative liability to you is limited to the total amount of service fees you paid to OKX in the 12 months preceding the event giving rise to the liability.
To the fullest extent permitted by law, OKX is not liable for any indirect, incidental, special, consequential, or punitive damages, including loss of profits or data, arising from your use of the services.
The services are provided on an "as is" and "as available" basis without any warranties of any kind. OKX is not your broker, financial advisor, or fiduciary. All trading decisions are made by you, and you alone bear the responsibility for their outcomes.
Governing Law and Dispute Resolution
Applicable Law
These Terms of Service, and any disputes arising from them, are governed by and construed in accordance with the laws of Singapore, excluding its conflict of law principles.
Mandatory Arbitration
Any disputes must first be submitted to the Singapore International Mediation Centre for mediation. If unresolved within 90 days, the dispute will be finally settled by arbitration in Singapore under the rules of the Singapore International Arbitration Centre (SIAC).
- The arbitration panel will consist of three arbitrators.
- The language of the arbitration will be English.
- The decision of the arbitrators will be final and binding.
- You agree to resolve disputes individually through arbitration and waive your right to participate in a class action lawsuit or class-wide arbitration.
General Provisions
- Entire Agreement: These terms constitute the entire agreement between you and OKX concerning the service.
- Severability: If any provision of these terms is found to be invalid, the remaining provisions will remain in full force and effect.
- Amendments: OKX may modify these terms at any time. Continued use of the services after changes are posted constitutes your acceptance of the new terms.
- Assignment: You may not assign your rights under these terms without OKX's prior written consent. OKX may assign its rights and obligations at any time.
- Notifications: Communications from OKX will be provided electronically via email or platform announcements.
Frequently Asked Questions
What is the OKX Web3 Ecosystem?
It is a suite of decentralized services, including a non-custodial wallet, NFT marketplace, DApp explorer, and trading aggregator, designed to let users interact with the decentralized web. OKX acts as a software service provider and does not custody user assets.
What are the most important risks to understand?
Key risks include the high volatility and potential total loss of digital asset value, the irreversible nature of blockchain transactions, security threats like hacking, the lack of regulatory protection or insurance, and the fact that OKX does not control or endorse third-party platforms accessible through its services.
Does OKX hold my private keys or digital assets?
No. OKX provides non-custodial wallet services. You alone are responsible for securing your private keys and seed phrases. OKX never asks for this information. Loss of your keys means permanent loss of access to your assets.
Am I eligible to use the OKX Web3 services?
You must be at least 18 years old and not be a resident of a restricted location (like Cuba, Iran, or North Korea) or on any prohibited sanctions list. You are responsible for ensuring your use complies with your local laws.
How are disputes with OKX resolved?
Disputes are governed by Singapore law. They must first go through mediation and, if unresolved, binding arbitration in Singapore. You waive your right to a jury trial or to participate in a class-action lawsuit.
What are my main responsibilities as a user?
You are solely responsible for lawful use of the services, securing your wallet credentials, complying with all applicable taxes and laws, and understanding the risks involved in trading digital assets and using third-party platforms.