Draft for review. Not yet in effect.

Terms of use

Effective [launch date]. Last updated [date].

These terms apply to your use of the LimitX web app, website, any browser extension we offer, service and executor smart contract ("LimitX"). LimitX is built and run by an independent team of contributors ("the LimitX team", "we"). By using LimitX you accept these terms. If you don't, please don't use it.

1. Who can use LimitX

• You must be at least 18 and able to agree to these terms.
• You may not use LimitX if you are on a sanctions list (including those of the US (OFAC), the United Nations, the European Union or the United Kingdom), if you are in or ordinarily resident in a country or region under comprehensive sanctions, or where using LimitX would be unlawful for you.
• We may restrict or block access, for example by location or by screening wallet addresses, to comply with the law or protect users.

2. What LimitX is, and isn't

• LimitX is software: an interface that watches prices and helps you place orders that trade on third-party protocols (Uniswap and UniswapX), starting on Robinhood Chain.
• It is non-custodial. Your funds stay in your wallet and every order is signed by your wallet. We never hold your funds, keys or seed phrase, and we can't move your funds except as an order you signed allows.
• We are not a broker, exchange, investment adviser or bank, and nothing in LimitX is financial, investment, tax or legal advice. You decide what to trade.
• We don't issue, sell or endorse any token. A token appearing in LimitX is not a recommendation, and we don't promise any return: tokens can lose all their value.

3. How orders work

• Standard orders: LimitX alerts you when your price is reached, and you sign the swap in your wallet. It fills at your price or better, or not at all.
• Auto-execute: you sign an order once. When the market reaches it, LimitX's keeper sends it to the LimitX executor contract, which swaps no more than the amount you signed and pays you at least your signed minimum, or the whole transaction fails. The keeper chooses the route; you receive at least your minimum, and any better price the route finds.
• Ladders are several such orders signed together; their rules are shown when you create one.
• An order may not fill: the price may not be reached, there may be no route or liquidity at your size, or the network, Uniswap or LimitX may be unavailable. We don't guarantee any fill or its timing.
• You can cancel an order in LimitX. For auto-execute, cancelling also offers to revoke its signature on-chain, which costs a small network fee; until revoked, a signed order stays valid until it expires.

4. Fees

Standard orders that fill through Uniswap carry a LimitX fee of 0.25%, taken from what you receive and shown before you sign. Auto-execute orders currently carry no LimitX fee. Pool fees, price impact and network fees are charged by the protocols and the network, not by us. We'll show any change to our fees in LimitX before it applies.

5. Risks you accept

• Smart contract risk. The LimitX executor contract has been reviewed and tested by us and by independent automated tools, but has not yet been audited by an independent security firm. A flaw could cause loss. Auto-execute is capped in size while this is the case.
• Market risk. Token prices can move quickly and fall to zero.
• Token risk. Tokens can be scams, charge transfer taxes, or stop being tradable. Our safety scan helps but can't catch everything.
• Network and protocol risk. Blockchains, Uniswap and other third parties can fail, change or be unavailable, and we don't control them. Blockchain transactions can't be reversed.
• Regulatory risk. The law around digital assets is changing and differs between places; it may restrict LimitX or the tokens you trade, without notice.
• Your wallet. You're responsible for your wallet, its keys and what you sign. Check every signing request.

6. Your responsibilities

• Make sure your use of LimitX is lawful where you are.
• You are responsible for any taxes on your trades. We don't provide tax documents.
• Don't misuse LimitX: no attacking or overloading it, no getting around its limits, and no using it to break the law or harm others.

7. Changes, pauses and ending

We may change, limit, pause or stop LimitX or any feature at any time, for example to protect users. Pausing the executor stops auto-execute orders from filling until it resumes; your funds stay in your wallet. We may update these terms; we'll change the date above and, for important changes, tell you in LimitX. You can stop using LimitX at any time.

8. No warranty

LimitX is provided "as is" and "as available", without warranties of any kind, express or implied, including that it will be accurate, uninterrupted, secure or fit for a particular purpose, to the fullest extent the law allows. Prices, quotes and estimates shown may be delayed or wrong.

9. Limitation of liability

To the fullest extent the law allows, the LimitX team and its contributors are not liable for any indirect, incidental, special or consequential loss, or for lost profits, lost data or losses from market moves, third-party protocols, blockchains or your wallet. Our total liability for any claim is limited to the lesser of US$100 and the fees you paid to LimitX in the 12 months before the claim.

10. Indemnity

You agree to cover the LimitX team and its contributors against claims, losses and costs arising from your use of LimitX in breach of these terms or the law.

11. Disputes

If a dispute arises, please contact us first; most things can be sorted out that way. Any dispute that remains will be resolved by binding arbitration on an individual basis, not as part of a class or collective action, unless the law where you live doesn't allow this. [Governing law and the arbitration rules and seat: to be confirmed by counsel.]

12. Contact

[email protected]