The ZK DEX Spot Trading User Agreement outlines the terms governing your access to and use of the decentralized exchange services provided via the OKX platform. This agreement is a critical document that defines the relationship between you, the user, and the service provider, detailing rights, responsibilities, and important risk disclosures.
Introduction to the Agreement
This agreement, including any documents and additional terms incorporated by reference, constitutes the entire understanding between you and Metax Technology Company Limited (referred to as "OKX," "we," "us," or "our"). It covers your use of the ZK DEX services accessed through the OKX website, its subdomains, web applications, mobile apps, and all related sites. The services include the order book, matching engine, smart contracts, decentralized applications, APIs, and other software for trading blockchain-based digital assets, as well as transferring assets into and out of smart contracts. By clicking "I Agree," otherwise acknowledging these terms, or accessing the services, you accept and agree to be bound by this agreement.
Key Modifications and Updates
We reserve the right to revise this agreement at our sole discretion at any time. Notifications of changes will be provided through the service interface or by updating the "Last Updated" date at the top of this document. Unless otherwise stated, amendments become effective immediately. Your continued use of the services after such notice confirms your acceptance of the revised terms. If you do not agree with the modifications, you must cease using the interface and services.
User Eligibility and Responsibilities
To access or use the services, you must meet specific criteria and adhere to certain obligations:
- You must be of legal age in your jurisdiction to enter into a binding contract if you are an individual.
- If you are acting on behalf of a company or legal entity, you must have the authority to bind that entity to these terms.
- You must not be a resident of, located in, or registered in a prohibited jurisdiction, which includes but is not limited to the United States, Canada, Singapore, and several other countries and territories listed in the full agreement.
- You must not be a resident, citizen, or agent of, or entity registered in, a restricted region such as Iran, Cuba, North Korea, Syria, or the Crimea, Donetsk, or Luhansk regions of Ukraine, or be a person subject to economic or trade sanctions.
- You must not use VPNs or other anonymizing tools to circumvent restrictions applied to the services.
- Your access and use must comply with all applicable laws and must not facilitate any illegal activities.
You are solely responsible for your use of the services, including all transfers of digital assets, reporting and paying applicable taxes, and maintaining the security and confidentiality of your private keys, passwords, and API keys.
Fees and Cost Estimates
You are responsible for paying all fees required to interact with the Ethereum blockchain, including gas fees and other costs reflected on the interface at the time of your transaction. While we provide estimated fee information, these are approximations, and the actual fees paid may differ.
Proprietary Rights and Licenses
The services incorporate certain open-source components governed by their respective licenses. OKX owns the proprietary elements of the service. You are granted a limited, non-exclusive, revocable, non-transferable license to access and use the non-open-source parts of the interface and services. You may not use OKX's trademarks, logos, or other marks without prior written consent.
It is critical to understand that the service is non-custodial. When you deposit digital assets into a smart contract available on the interface, you retain control of those assets at all times. OKX does not take possession of your assets.
Acknowledgment of Key Risks
Using decentralized finance (DeFi) protocols and services involves significant inherent risks. You acknowledge and agree to the following:
- Blockchain and Technology Risks: The underlying blockchain networks, including Ethereum, are open-source and decentralized. Their operation, security, and availability are not controlled by OKX. Sudden changes in operating rules, known as "forks," can significantly impact the services.
- Private Key Security: You alone are responsible for safeguarding your private keys. Loss of control over your private keys will result in the permanent loss of access to your digital assets, with no possibility of recovery by OKX or any other party.
- Regulatory Uncertainty: Services and your digital assets may be affected by regulatory actions that could hinder or limit OKX's ability to provide software or your ability to access the services.
- Market and Technical Volatility: Digital assets are highly experimental, risky, and volatile. Transactions are irreversible and final, with no refunds. You are solely responsible for evaluating the risks of any transaction.
- Service and Information Accuracy: The service is provided "as is" and may contain flaws. Information provided on the interface may not always be accurate, complete, or current. Prices may differ from those available on other platforms.
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Prohibited Activities
You are prohibited from using the services for activities that:
- Violate any applicable law, including anti-money laundering and counter-terrorism financing laws.
- Infringe upon intellectual property rights.
- Involve fraudulent, abusive, or market-manipulative trading practices.
- Interfere with or disrupt the service for other users.
- Attempt to circumvent security measures or access controls.
- Introduce malicious software or use automated systems to access data.
- Are conducted from a prohibited jurisdiction.
A full and detailed list is contained within the agreement.
Limitations of Liability and Indemnification
To the fullest extent permitted by applicable law, OKX and its affiliates, directors, officers, employees, and agents shall not be liable for any incidental, indirect, special, punitive, or consequential damages arising from your use of the services, including loss of funds, data, or profits.
You agree to indemnify and hold harmless OKX and its representatives from any claims, damages, or losses arising from your use of the services, your violation of this agreement, or your infringement of any third-party rights.
Dispute Resolution and Governing Law
Any disputes arising from this agreement or your use of the services will be resolved through binding arbitration administered by the Hong Kong International Arbitration Centre (HKIAC) under its rules in force at the time. Arbitration will be conducted in English in Hong Kong. This agreement and any disputes are governed by the laws of the Hong Kong Special Administrative Region of the People's Republic of China.
Frequently Asked Questions
What is the ZK DEX Spot Trading User Agreement?
This is a legal contract between you and OKX that sets forth the terms, conditions, and risk disclosures governing your use of the ZK DEX decentralized spot trading services offered through the OKX interface. It defines the rules of engagement and outlines the responsibilities of both parties.
Who is eligible to use ZK DEX services?
Eligibility is restricted based on jurisdiction. Individuals and entities residing in, located in, or registered in a comprehensive list of prohibited countries, such as the U.S. and Canada, are not permitted to use the services. Furthermore, residents or citizens of sanctioned regions are also prohibited. Users must also be of legal age and have the authority to enter into a binding contract.
Does OKX hold or control my digital assets?
No, the service is non-custodial. When you interact with the smart contracts on ZK DEX, you retain full control over your digital assets. OKX never takes possession of your assets. You are solely responsible for securing the private keys associated with your Ethereum address.
What are the major risks involved?
Key risks include the potential loss of private keys leading to irreversible asset loss, high market volatility, technological flaws in smart contracts or underlying blockchains, regulatory changes that could impact service availability, and the experimental nature of decentralized finance technology. All transactions are final and cannot be reversed.
How are disputes handled under this agreement?
Disputes are required to be resolved through binding arbitration in Hong Kong under the rules of the HKIAC, rather than in court. This process is typically final and waives your right to participate in class-action lawsuits. The agreement is governed by the laws of Hong Kong.
Can OKX change the terms of this agreement?
Yes, OKX reserves the right to modify the terms at any time at its sole discretion. Changes are communicated by updating the "Last Updated" date or via the service interface. Your continued use of the services after such changes constitutes acceptance of the new terms.