Terms of Use

The present Terms of Use and any terms incorporated herein (hereinafter "Terms") apply to your ("user," "you") use of the Services (also the "Services"), including shard.exchange ("Website"), the technology and the integrated platform therein, as well as any related applications, which are operated and maintained by shard.exchange ("Website") and its equivalents in the context of this document ("Shard Exchange," "We," or "Us").

We provide you with the opportunity to use our Services, as defined above, under the following conditions.

Shard Exchange is owned by NewGenIT Ltd. (registration number 246535. Registered address: House Of Francis, Room 303, Ile Du Port, Mahe, Seychelles). At the same time, certain services, including cryptocurrency exchange services, may be provided by our other operating companies or by the operating companies of our partners.

1. Enforcement and Amendments

1.1 These Terms of Use constitute a binding agreement between Shard Exchange and the user from the moment the user accesses the Website and uses the Services. Thereby the user confirms that they have fully read and accepted these Terms of Use before starting to use this service.

1.2 The user agrees that the Terms of Use may be periodically updated at the discretion of Shard Exchange. If the user does not read and accept the Terms of Use in full, they must not use or continue to use the Services.

1.3 We reserve the right, from time to time, to amend, supplement, or modify these Terms at our discretion.

2. Provided Services

2.1 Our Services provide you with the opportunity to exchange one type of crypto asset for another.

2.2 For the purposes of this Agreement, "Exchange" means the exchange of one type of crypto asset for another type of crypto asset under the conditions set by the exchanging parties, carried out through a Third-Party service in the relevant blockchain network. When you exchange crypto assets, you acknowledge and agree that the Exchange will be carried out through a third-party exchange service with additional fees applicable to such Exchange. You acknowledge and agree that the information about exchange rates provided through the Services is for reference only and may differ from the actual rates available through other sources outside our Services.

2.2.1 Fixed rate: Our fee will be 1% + network fee. No hidden fees. The rate is frozen for 12 minutes. If the market rate changes by more than 1.3% before the transaction is detected in the blockchain network, you will be offered either a refund or to proceed with the exchange at the market rate.

2.2.2 Floating rate: Not fixed until the funds are received and the exchange transaction is completed. Our fee is 0.5% + network fee. The exchange is carried out at the market rate – no hidden fees.

2.3 "Crypto assets" in this document are considered as a type of assets that can only and exclusively be transferred via blockchain technology, including, but not limited to, digital coins and digital tokens.

2.4 To carry out an exchange through our Services, our system automatically generates a specific address which contains information about the User; (ii) the crypto asset the User wishes to exchange and the crypto asset the User wishes to receive (together – the "crypto pair"); and (iii) the recipient's address provided by the User.

2.5 YOU RELEASE SHARD EXCHANGE FROM LIABILITY FOR ANY DIRECT, INDIRECT, CONSEQUENTIAL, SPECIAL DAMAGES OR ANY OTHER DAMAGES OF ANY KIND, INCLUDING, WITHOUT LIMITATION, LOSS OF RIGHT OF USE, LOSS OF PROFIT OR LOSS OF DATA, WHETHER RESULTING FROM ACTIONS UNDER THE AGREEMENT, TORT (INCLUDING BUT NOT LIMITED TO NEGLIGENCE) OR OTHERWISE, RELATED TO YOUR USE OF OUR SERVICES.

2.6 Shard Exchange does not provide custody services. In limited cases, such as the need to carry out Anti-Money Laundering ("AML") and Know Your Customer ("KYC") procedures, the exchange may be delayed. YOU THEREBY UNDERSTAND AND ACKNOWLEDGE THAT ANY DELAYS ARE POSSIBLE; YOU RELEASE US FROM LIABILITY FOR ANY CLAIMS, DEMANDS AND DAMAGES ARISING FROM OR IN ANY WAY RELATED TO THE DELAY OF THE EXCHANGE.

2.7 The Shard Exchange service reserves the right to apply AML and KYC procedures to all Users, addresses and individual crypto asset transactions according to our AML policy available at https://shard.exchange/docs/aml-policy.

2.8 The Shard Exchange service will not enter into business relationships with an individual or legal entity suspected of or directly connected with money laundering, or whose source of funds has been illegal activity.

2.9 If the exchange direction involves a floating rate, it is recalculated only downward. The executor is not responsible for or bears expenses for transaction delays on the client's side.

2.10 When using the "Fixed exchange rate" option, your rate is "fixed" for 15 minutes. Shard Exchange cannot guarantee the completion of a transaction at a fixed exchange rate in certain cases, including: the user sent crypto assets more than 10 minutes after clicking "confirm and make payment"; the user sent a different amount than displayed; the user sent crypto assets to a previously used one-time address; the user sent cryptocurrency through multiple transactions. If the market situation allows, the exchange will be completed automatically. If not, crypto assets will be returned minus applicable fees.

2.11 All claims and complaints regarding exchange requests must be submitted no later than 7 business days from the date of placing the relevant request. All claims must be sent to the official email help@shard.exchange.

2.12 When sending funds under an Order that requires additional parameters such as MEMO, Destination tag, or similar, it is extremely important to enter this data accurately. An error may result in the irreversible loss of your funds. A fee of at least USD 80 will be charged for the recovery and refund service. A refund request can only be made if the transaction amount exceeds thirty (30) US dollars.

2.13 If the client disagrees with the payout, they must contact shard.exchange support within 6 hours from the moment of order completion. Requests received after 6 hours will not be accepted.

2.14 In the event of a dispute over the payout due to a technical error in rate display, the client's disagreement with the rate after the payout, or for any other reason, the client will be recalculated at the rate at the time of receiving all required confirmations on the exchange (Liquidity Provider). The rate will be determined based on minimum values downward.

2.15 In case of the client's refusal of recalculation at the rate at the time of receiving all confirmations on the exchange (Liquidity Provider), the financial obligations of the service under the application are considered fully fulfilled.

3. Eligibility

3.1 By accessing and using the Services and the Website, you represent and warrant that you are not located in and are not a citizen or resident of the United States of America, a country subject to sanctions by the United Nations, the U.S. Office of Foreign Assets Control (OFAC) or the European Union, as well as a country where the use of cryptocurrency is prohibited under applicable law. Shard Exchange does not operate in prohibited jurisdictions.

3.2 You also represent, agree and warrant that you will not violate any laws, agreements, third-party rights or commit tortious acts; that you have full legal capacity to enter into contracts; that you are not in prohibited jurisdictions; that you do not use the Services for fraudulent, scam or any other illegal purposes; that you use only crypto assets obtained from legal sources; that you do not provide false information; that you comply with the terms of this Agreement and all applicable laws; that you use the Website and the Services exclusively for personal non-commercial purposes; that you acknowledge Shard Exchange is not your broker, intermediary, agent, advisor or fiduciary; and that you agree to receive electronically all messages, documents, notices and disclosures related to the use of the Website and the Services.

3.3 YOU RELEASE US FROM LIABILITY FOR ANY CLAIMS, DEMANDS AND DAMAGES ARISING OUT OF OR IN ANY WAY RELATED TO THE INVALIDITY OR BREACH OF ANY OF THE PROVISIONS OF THIS SECTION AND ALL TERMS.

4. Third-Party Content and Services

4.1 "Third-Party Content" means content provided by third parties. "Third-Party Service" means any platform or network where the crypto assets belong to you, maintained by a third party outside the Services.

4.2 You may be charged by a third-party service provider. Shard Exchange is not responsible for paying any third-party services.

4.3 A mismatch of exchange rates is possible at any time due to third-party algorithms. YOU RELEASE SHARD EXCHANGE FROM ANY DAMAGES ARISING OUT OF OR IN ANY WAY RELATED TO THE INVALIDITY OR BREACH OF ANY OF THE PROVISIONS OF THIS SECTION.

4.4 We do not control, endorse, or accept any Third-Party Content and are not responsible for Third-Party Content. Your business relations or correspondence with such third parties are solely between you and the third parties.

5. Intellectual Property

5.1 All our intellectual property ("IP") assets are protected by local and international intellectual property laws and treaties.

5.2 We hereby grant you a limited, non-exclusive and non-sublicensable license to access and use our IP solely for your personal use.

5.3 You may not modify, alter, reproduce, distribute or use for commercial purposes any materials.

5.4 The license is automatically revoked if we suspend or terminate your access to the Services.

5.5 If you upload or share feedback, suggestions, ideas or other information ("Content"), you automatically grant us a license to use your content worldwide. It may be used for marketing or any other purposes at our discretion.

6. Limitation of Liability

6.1 Our Services are provided on an "as is" and "as available" basis. WE EXPRESSLY DISCLAIM, AND YOU WAIVE, ALL WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED.

6.2 IN NO EVENT SHALL SHARD EXCHANGE, OUR DIRECTORS, OFFICERS, MEMBERS, EMPLOYEES OR AGENTS BE LIABLE FOR ANY DIRECT, INDIRECT, CONSEQUENTIAL, SPECIAL OR ANY OTHER DAMAGES ARISING OUT OF OR IN ANY WAY RELATED TO THE USE OR INABILITY TO USE OUR SERVICES.

6.3 An exchange through our Services cannot be canceled by SHARD EXCHANGE. Therefore, check the details of your exchange before making such an exchange. SHARD EXCHANGE is not responsible for your crypto assets after they are sent outside the scope of the Services.

6.4 TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, IN NO EVENT SHALL THE AGGREGATE LIABILITY OF SHARD EXCHANGE EXCEED THE FEES PAID BY YOU TO SHARD EXCHANGE DURING THE 3 MONTHS IMMEDIATELY PRECEDING THE DATE OF ANY CLAIM.

6.5 We reserve the right to prohibit and terminate any Exchanges with crypto assets intended for illegal seizure, fraud, scam or any other illegal activity at our sole discretion. YOU RELEASE SHARD EXCHANGE FROM ANY CLAIMS ARISING OUT OF OR IN ANY WAY RELATED TO THE PROHIBITION AND TERMINATION OF THE EXCHANGE PROCESS WITH ANY CRYPTO ASSET.

6.6 shard.exchange may refuse service without explanation and disclosure of reasons.

6.7 If a client uses other cryptocurrency addresses as well as email addresses in order to bypass a block in the service, then shard.exchange withholds up to 5%.

7. Miscellaneous

7.1 These Terms contain the entire agreement and supersede all prior and contemporaneous arrangements between the parties regarding the Services.

7.2 In the event of any conflict between these Terms and any other agreement you may enter into with SHARD EXCHANGE, the terms of that other agreement will prevail only if these Terms are specifically identified and declared to be overridden.

7.3 Our failure or delay in exercising any rights shall not operate as a waiver thereof.

7.4 The invalidity or illegality of any of these Terms does not affect the validity or legality of any other of these Terms.

7.5 You may not assign or transfer any of your rights or obligations under these Terms without the prior written consent of SHARD EXCHANGE. SHARD EXCHANGE may assign or transfer any or all of its rights without obtaining your consent.

7.6 When you use the Website and the Services, Shard Exchange may collect, store and process personal data. Such collection and processing are governed by the current Shard Exchange Privacy Policy available at https://shard.exchange/docs/privacy-policy. By using the Website and the Services, you confirm that you have read the Privacy Policy and agree to its terms.