3. Services, Fees, and Rewards

3.1. General

3.1.1. Unless specifically defined otherwise, “Tokens” means only blockchain-based fungible tokens available on XREX Exchange, under these Terms. For clarity, “Tokens” are interchangeable with “cryptocurrencies” under these Terms.

3.1.2. As defined in these Terms, the Services include any services available on the Site and provided by XREX. The scope of the Services may vary from time to time, and its availability depends on your jurisdictions and specific circumstances. The list of the Services in this Section is not intended to be exhaustive, as some portion of the Services may be available on the App or Web.

3.1.3. XREX may, at our discretion and without liability to you, with or without prior notice and at any time, modify or discontinue, temporarily or permanently, all or any portion of any Services. XREX will not be liable for any losses suffered by you resulting from any modification of any Services or from any suspension or termination of your access to all or a portion of any Services or for any other reason. If and when Services resume, you acknowledge that Token valuations and exchange rates may differ significantly from the valuations and rates prior to such an event.

3.1.4. No Broker or Fiduciary Relationship: XREX is not your broker, intermediary, agent, or advisor and has no fiduciary relationship or obligation to you in connection with Trades or other decisions or activities effected by you in using the Services. As such, no information provided to you by XREX is intended or should be considered as advice. Please refer to the Risk Disclosure when choosing whether or not to use the Services.

3.1.5. XREX may, at its own option and discretion, attempt to correct, reverse, or cancel any Order, Trade, or Transfer with respect to which we have discovered an error, whether such error was by the Services, by you, or by a third party. You hereby authorize us to attempt any such correction, reversal or cancellation described. XREX provides no warranty or guarantees that any such attempt will be successful and bears no responsibility or liability for any such error or correction attempt.

3.2. Due to the nature and characteristics of XREX’s Services, you understand and consent that it is a reasonable matter that all Trade and Conversion are final and irrevocable upon execution. Our service is provided to you contingent upon your understanding and consent to such a reasonable matter.

3.3 Trade and Conversion

3.3.1. Trade and Orders: “Trade” is an exchange of Tokens or an exchange of Fiat Money for Tokens or Tokens for Fiat Money between you and another user of the Services. An “Order” is created when you enter instructions to the system to make a Trade using the Services. When you enter an Order, you authorize XREX to make a Trade of the specified Token or Fiat Money for all, or part of the specified amount on a spot basis. You agree to pay XREX the applicable fees and authorize XREX to deduct these fees from your wallet or from the Trade amount.

3.3.2. Conversion: “Conversion” and “convert” refer to an exchange between one type of Token to another type of Token, or between Token and Fiat Money. When you opt for Conversion, you will have a time-sensitive price from the Site or the Mobile App. Once you accept the price before the price offer expires, such conversion is final and can not be revoked or canceled.

3.3.3. Order Confirmation: Before an order is placed, the system will provide a summary of the Order for you to confirm. If the system is unable to provide a summary or confirmation, this will not invalidate the Order submitted by you and it may be placed anyway.

3.3.4. Order Matching and Trade Execution: Upon placing an order, your account will be updated to reflect the open Order and your Order will be included in the order book for matching. Once the Services match all or part of your order with that of another user, the Services will execute a Trade. Once a Trade has been executed partially or completely, your account will be updated accordingly. Orders will remain open until they are executed or canceled. In order to execute a Trade, you authorize XREX to take complete control over the Tokens you are disposing of in the Trade.

3.3.5. Cancellations: You will be able to cancel an order if it has not been executed yet. If the Order has been matched and the Trade executed, you will not be allowed to cancel, change, withdraw or rescind your authorization for XREX to execute the Order. This applies to orders that have been partially matched or executed. XREX reserves the right to refuse the cancellation of a Market Order once it has been submitted.

3.3.6. Insufficient Funds: In the event your account does not have sufficient funds to execute the Trade, XREX may cancel the entire Order, or only fulfill the part of the Order for which you have sufficient funds.

3.3.7. Token availability: XREX in its sole discretion determines which Tokens and the specific blockchain thereof will be made available for trading, transferring, and storing on the Services. Unless otherwise required by law enforcement or other regulatory bodies, XREX will make reasonable efforts to notify you of any changes to the supported Tokens. If you do not remove your Tokens or other assets to an external wallet address or account prior to the cessation of support on the Services, you may lose all or part of your Tokens or other assets. In such cases, XREX will not be liable for any losses, liabilities, costs, or expenses related to its decision to remove support for any Token or asset.

3.4. Earn Product

3.4.1. “Earn Product” refers to a variety of technological solutions and staking project selections provided by XREX to offer the opportunity for its users to participate in blockchain-based staking projects voluntarily, whether it is centralized or decentralized projects. Pursuant to applicable laws and local regulations, Earn Product is only available for users in certain jurisdictions.

3.4.2. Risk assumption: Earn Products are inherently risky, and you shall do your own research before using this type of the Services. You understand that you may lose up to all your Tokens, and you agree to assume all risks associated.

3.4.3. XREX users may receive a Reward for their participation in Earn Product(s). “Reward” is defined as any benefits in the form of Token received pursuant to any provisions and rules of a specific Earn Product. Please note that upon your confirmation of an Earn Product in exchange for Rewards, you agree to loan your selected Tokens to XREX or authorize XREX to send your selected Tokens on your behalf to a decentralized finance project or protocol of your choice.

3.5. Fork and Airdrops: You remain the lawful and beneficial owner of any assets and Tokens in your account and the beneficial owner of additional assets resulting from any applicable (i) network fork that is supported by XREX and (ii) airdrop or similar distribution of Digital Assets that is supported by XREX; provided, that XREX retains sole discretion and has no obligation to support any particular forks, airdrops or similar distribution and such support remain in all instances subject to the Terms.

3.6. Fees

3.6.1. You agree to pay XREX the fees described in the fee schedules (“Fee Schedule”), as periodically updated by us at our discretion. The updated Fee Schedule will apply prospectively to the relevant Services that take place following the effective date of such updated Fee Schedule. You authorize us to deduct and/or debit Tokens or Fiat Money from your wallet or from the Trade amount for any applicable fees payable by you under these Terms.

3.6.2. You agree and understand that your acceptance of this Agreement is considered to be your acceptance of our Fee Schedule. We reserve the right to change, modify, or increase our Fee Schedule at any time.

3.6.3. The Fee Schedule can be found in the XREX Help Center.

3.7. Commission or Rebates: XREX may grant Commission or Rebates from time to time to its users for promotional activities (such as a referral program). Specific rules for any Commission or Rebate shall be found at https://support.xrex.io/en/ unless otherwise agreed in writing in other agreements.

3.8. Non-fungible tokens (“NFTs”): XREX may mint and issue NFTs to its selected users in accordance with a limited license. Additional requirements or conditions may apply to any NFTs distributions.