Terms of Service
The Fine Print for Your Financial Zen
Welcome to Babylon, a decentralized cross-chain exchange that connects liquidity across multiple blockchains. By using our application, you agree to be bound by these Terms of Service. Please read them carefully.
General Terms and Conditions
Babylon operates within trusted liquidity provision protocols, such as Thorchain and Li.Fi, to enable seamless exchanges of native assets and broaden asset coverage across multiple blockchains. As a decentralized exchange, Babylon does not have access to users' personal web 3.0 wallets. However, by using Babylon, you acknowledge the inherent risks associated with trading digital currencies and interacting with decentralized protocols.
Risk Disclosure
Trading digital assets, cryptocurrencies, and other blockchain-based assets involves significant risks. By using Babylon, you acknowledge that you are aware of and accept these risks. Babylon is not responsible for any losses you may incur as a result of your trading decisions.
Network Risks Acknowledgment
You recognize and accept various risks related to using digital currency networks, including hardware failure, software issues, internet connection failure, malicious software, third-party interference, unknown vulnerabilities, and unanticipated changes to the protocol. You understand that Babylon cannot be held responsible for any communication failures, disruptions, errors, distortions, or delays you may experience while using the Dapp, regardless of the cause, and you agree not to hold us responsible for any harm resulting from such risks.
Trading Digital Currencies Risk Acceptance
You acknowledge the legal risks involved in trading digital currencies and accept that blockchain-based transactions are irreversible. You agree that certain tokens may be deemed securities under the law in various jurisdictions, and trading such tokens is undertaken at your sole risk.
You further understand that digital asset markets are subject to high volatility due to factors such as adoption, speculation, technology, security, and regulation. You acknowledge and accept the risk of losing some or all of your digital assets' value while using the Babylon, fluctuations in token prices, and significant price slippage and cost. You recognize that anyone can create a token, including counterfeit versions of existing tokens or tokens falsely claiming to represent projects, and accept the risk of mistakenly trading these tokens. You acknowledge that we are not responsible for these risks or variables, resulting from your access or use of the Dapp. Consequently, you agree to assume full responsibility for all risks associated with accessing and using the Babylon Dapp to interact with underlying protocols
Limitation of Babylon Liability
In no event 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, resulting from or relating to any access or use of the Dapp. We disclaim any liability or responsibility for any losses, damages, or claims resulting from:
Mistakes made by users, including but not limited to lost passwords, improperly executed transactions, or inaccurate addresses;
Failure of third party providers;
Any illicit third-party actions, such as employing malware, phishing, brute force, or other aggressive tactics against the Dapp or its services;
Any activities you engage in that could be illegal or harmful to any third party in any manner
User Conduct and Prohibited Activities
Users are prohibited from engaging in:
Illegal activities, including money laundering and financing terrorism.
Market manipulation tactics.
Harassment or other forms of misconduct.
Dispute Resolution and Arbitration
In the event of a dispute arising from or related to these Terms of Service or your use of the Babylon's Dapp, we strongly encourage you to first contact us directly to seek a resolution.
If we are unable to resolve the dispute informally, you agree that any unresolved disputes will be settled by binding arbitration. The arbitration will be governed by the laws of country of Babylon's registration.
Arbitration Process: The arbitration will be conducted by a neutral arbitrator, whose decision will be considered final and binding subject to any right of appeal provided under the chosen arbitration rules.
Arbitration Location and Procedure: Arbitration will be conducted either in the jurisdiction of our primary business operation or via telephone, online, or based solely on written submissions; the specific manner shall be chosen by the party initiating the arbitration.
Arbitration Fees: The payment of arbitration fees will be governed by the rules of the arbitration forum.
This arbitration clause shall not preclude parties from seeking provisional remedies in aid of arbitration from a court of appropriate jurisdiction. It is also important to note that arbitration does not involve a judge or jury, and court review of an arbitration award is limited.
Waiver of Class or Consolidated Actions
All claims and disputes within the scope of this arbitration agreement must be arbitrated on an individual basis and not on a class basis. Claims of more than one customer or user cannot be arbitrated or consolidated with those of any other customer or user.
Severability
If any part of this arbitration agreement is deemed to be invalid, unenforceable, or illegal, or otherwise conflicts with the rules and procedures established by the arbitration forum, then the balance of this arbitration agreement shall remain in effect and shall be construed in accordance with its terms as if the invalid, unenforceable, illegal or conflicting provision were not contained herein.
Failure to enforce any part of these Terms does not constitute a waiver of that part.
Applicable Law and Jurisdiction
These Terms of Service shall be governed by and construed in accordance with the laws of the jurisdiction in which the Babylon is operated, without regard to its conflict of law provisions. By using the Babylon, you agree to submit to the exclusive jurisdiction of the courts located in the governing jurisdiction to resolve any disputes or claims arising from or in connection with these Terms of Service.
Amendments
Please note that Babylon reserves the right to modify these Terms of Service at any time without prior notice. Your continued use of the Dapp after such modifications constitutes your acceptance of the modified Terms of Service.
By using Babylon, you acknowledge that you have read, understood, and agreed to these Terms of Service, and you accept all inherent risks and responsibilities associated with accessing and using the Babylon's Dapp.
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