Terms of Service (Mobile App)

Last update: January 2023

1. Please review the terms of service contained herein carefully. By signing next to “I agree” or accessing and/or using any of the Services provided by Sanctuary™ DEX signifies that You have read, understood, and accepted all the following Terms, as well as all of the terms which are incorporated herein by reference.

‍1. RIGHTS AND OBLIGATIONS

The following terms and conditions (the “Terms”) constitute a binding agreement between Sanctuary™ DEX, a limited company registered under the laws of the state of Mississippi, and the person, persons, or entity (“You” or “Your”) accessing and/or using the described applications:

• Sanctuary™ DEX’s decentralized blockchain wallet (as described below on the Sanctuary™ DEX Android and iOS mobile apps; Sanctuary™ DEX decentralized exchanger (as described below on the Sanctuary™ DEX Android and iOS mobile apps;
• Future but yet to be announced Sanctuary™ DEX services; all such services referred to as the “Services”.  

By accessing and/or using the Services, You have read, understood, and accepted all of the following

Terms and agree to be legally bound by these Terms, in their most recent version; You further represent and warrant that: (i) You are of legal age (18+ years) to enter into a binding agreement; and (ii) if You represent Yourself as an individual, a corporation, governmental organization or other legal entity, and

You have the right, power and authority to enter into these Terms on behalf of Yourself and/or such corporation, governmental organization or other legal entity and to legally bind such to these Terms.

Your access and/or use of the Services is contingent upon Your acceptance of these Terms.

Sanctuary™ DEX may amend these Terms at any time. Amendments will be effective 14 (fourteen) days after the modified terms and conditions have been posted on Sanctuary™ DEX’s website at https://Sanctuary™ DEX or on Sanctuary™ DEX’s separate  Android and iOS mobile apps, except for amendments that relate to new features or made for legal reasons, which will become effective immediately. If You do not agree to such modified terms, You should discontinue Your use of the Services.

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2. SERVICES

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1. THE WALLET

Sanctuary™ DEX enables You to create one or more digital, non-custodial, cryptocurrency wallets for certain supported cryptocurrencies and digital assets (the “Wallet”) that lets You store, send, and receive supported cryptocurrencies and digital assets. All transactions requested and/or made through the Wallet are submitted to their respective blockchain. Once broadcasted to the blockchain, transactions become irreversible.

The Wallet is not and shall not be deemed to be an account where Sanctuary™ DEX or other third parties serve as custodians of Your cryptocurrencies or digital assets.

The Wallet is only for use with Ethereum (ETH) and with any other cryptocurrencies or digital assets that Sanctuary™ DEX may explicitly decide to support in the future at its sole discretion. Sanctuary™ DEX has no obligation to support any cryptocurrencies or digital assets (including but not limited to any fork coins, altcoins, airdrops, or any other cryptocurrencies or digital assets, however named).

Sanctuary™ DEX takes no responsibility or liability in connection with any attempt to use your Wallet for cryptocurrencies or digital assets other than the supported cryptocurrencies and digital assets.

By accessing and/or using the Services, You acknowledge and agree that Sanctuary™ DEX cannot guarantee the confirmation of any transaction on any blockchain network. Sanctuary™ DEX has no control over any blockchain network.

While the Wallet has undergone beta testing and continues to be improved through feedback from its users, Sanctuary™ DEX cannot guarantee that there will be no errors and/or bugs in the functioning of the Wallet.

Sanctuary™ DEX provides You with the means to secure Your Wallet and help ensure You, and only You, are able to access and transact through Your Wallet, including mnemonics, personal identification numbers (PINs), and private key pairs. Sanctuary™ DEX does not store or have access to Your mnemonics, PINs, or private key pairs. You shall be solely responsible for safekeeping Your mnemonics, PINs, private key pairs, and any other means of authentication You use to access Your Wallet. If You lose such means of authentication, Sanctuary™ DEX has no way to recover them for You. As a consequence of such loss, You may permanently lose access to any cryptocurrencies or digital assets You have stored in Your Wallet.

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2. THE Sanctuary™ Decentralized Exchange (“DEX”) Platform The Sanctuary™ DEX also called The Exchanger™ is currently in Beta.

Once in production, it provides You a means to access a decentralized trading platform (the “DEX”) that lets You trade cryptocurrencies and digital assets directly with automated market maker (AMM) smart contracts.

The DEX is only for use with Ether (ETH) and with any other cryptocurrencies or digital assets that Sanctuary™ DEX may explicitly decide to support in the future at its sole discretion. Sanctuary™ DEX has no obligation to support any cryptocurrencies or digital assets (including but not limited to any fork coins, altcoins, airdrops or any other cryptocurrencies or digital assets, however named). Sanctuary™ DEX takes no responsibility or liability in connection with any attempt to use the DEX for cryptocurrencies or digital assets other than the supported cryptocurrencies and digital assets.

By accessing and/or using the Services, You acknowledge and agree that Sanctuary™ DEX does not hold Your funds nor offer refunds. You shall be solely responsible for Your own funds and wallets. Sanctuary™ DEX takes no responsibility for decisions, actions or losses resulting from Your use of the DEX, including losses due to the decrease in value of cryptocurrencies and digital assets purchased and/or sold through the Exchanger™. You shall be solely responsible for Your understanding of the details and mechanics of the smart contracts involved with trading. You trade using the DEX for Your own trading decisions.

Sanctuary™ DEX makes no representations and warranties and offer no guarantees of any kind, whether express or implied, about the smart contracts, cryptocurrencies, and digital assets that You trade using the DEX.

While the information contained on the DEX is periodically updated, no guarantee is given that the information provided on the DEX is correct, complete, or up to date.

Sanctuary™ DEX charges a transaction fee on the DEX. The current transaction fees applied are shown on the Sanctuary™ DEX trade confirmation page prior to submitting the transaction to the blockchain. By agreeing to these Terms, You agree to these transaction fees. You further acknowledge that all blockchain transactions are subject to a network fee (Gas) in their native cryptocurrency, i.e., bitcoin, dogecoin or Ethereum. To record transactions on the blockchain, You shall maintain a sufficient amount of the native currency in the wallet connected to the DEX. Failure to do so will result in a failed transaction. Sanctuary™ DEX is not responsible for any failed transaction.

By accessing and/or using the Services, You acknowledge and agree that Sanctuary™ DEX cannot guarantee the confirmation of any transaction on any blockchain network. Sanctuary™ DEX has no control over any blockchain network.

By accessing and/or using the Services, You acknowledge and agree that Sanctuary™ DEX does not act or serve as Your broker, intermediary, agent, or advisor with respect to any action (including refraining from any action) You make or intend to make using the DEX. Sanctuary™ DEX owes You no fiduciary duty.

The Exchanger™ is currently undergoing beta testing; therefore, Sanctuary™ DEX cannot guarantee that there will be no errors and/or bugs in the functioning of the Exchanger.

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3. ANTI-MONEY LAUNDERING AND COUNTER TERRORIST FINANCING

Decentralized services, such as the Services, may require KYC or Know Your Customer identification verification. Currently, the legal environment is still under evolution and development. Regulatory authorities are carefully scrutinizing businesses and operations associated with cryptocurrencies around the world. Sanctuary™ DEX’s business model may change because of new legal, regulatory, and compliance requirements from any applicable laws in any jurisdiction, even with retroactive effect, especially for KYC and Anti Money Laundering (AML) laws and regulations.

In such a case Sanctuary™ DEX is committed to applying the AML legislation providing You with safe, compliant, and reputable service. This includes monitoring of suspicious transactions and mandatory reporting to the supervisory authorities. In addition, pursuant to the AML rules, Sanctuary™ DEX shall keep certain information and documentation on file for a period of ten years after the termination of the relevant business relationship or from the completion of the relevant transaction.

In such a case Sanctuary™ DEX will ask, verify, and record information identifying any person accessing and/or using one or both Services according to the applicable legal requirements. Therefore, to access and/or use of certain Services You may have to follow a KYC (Know Your Customer) process to verify Your identity. In such a case Sanctuary™ DEX will ask You to obtain a Sanctuary™ DEX Identity, where you must provide true, current, and complete information about Yourself. If You are a representative of a corporation, governmental organization or other legal entity, You must prove that You have the right, power and authority to enter into these Terms on behalf of the corporation, governmental organization or other legal entity and to legally bind it to these Terms.

In addition, Sanctuary™ DEX may require You to provide documentation to verify the information You have submitted to Sanctuary™ DEX including, without limitation, an identification card or a passport, a utility bill, a bank statement, or any document proving Your identity issued by a governmental body.

Moreover, Your access and/or use of the Services is subject to international economic sanctions requirements. By accessing and/or using the Services, You agree that You will comply with those requirements. In particular, You shall not access and/or use the Services if: (1) You are in, under the control of, or a national or resident of a country subject to United States embargo or UN sanctions (a “Sanctioned Country“), or if You are a person on the sanctions/embargoes list published by the Office of Foreign Asset Control (“OFAC”) of the United States Department of the Treasury (a “Sanctioned Person“); or (2) You intend to supply any cryptocurrencies or digital assets to a Sanctioned Country (or a national or resident of a Sanctioned Country) or Sanctioned Person.

4. SERVICE LIMITATIONS AND MODIFICATIONS

Sanctuary™ DEX will make reasonable efforts to keep the Services operational. However, certain technical difficulties or maintenance may, from time to time, result in temporary interruptions. To the extent permissible under applicable law, Sanctuary™ DEX reserves the right, periodically and at any time, to modify or discontinue, temporarily or permanently, functions and features of the Services, with or without notice, without liability to You, for any interruption, modification, or discontinuation of the

Services or any function or feature thereof.

5. KNOWLEDGE REQUIRED

By accessing and/or using the Services, You represent and warrant that (i) You fully understand and have significant experience of cryptocurrencies, digital assets, blockchain systems and services, and (ii) You fully understand the risks associated with the trading of cryptocurrencies and digital assets as well as the mechanics related to the use of such cryptocurrencies and digital assets (including with respect to their storage and exchange).

By accessing and/or using the Services, You acknowledge that trading markets are extremely volatile and shift quickly in terms of liquidity, market depth, and trading dynamics. There is no guarantee against losses for accessing and/or using the Services. By accessing and/or using the Services, You represent and warrant that You are not entering into transactions that are above Your financial abilities. Also, cryptocurrencies and digital assets are not suitable for people without the relevant knowledge and/or experience. By accessing and/or using the Services, You further represent and guarantee that You are aware of the risks related to cryptocurrencies and digital assets, and for which You are solely responsible and liable.

6. INTELLECTUAL PROPERTY RIGHTS

 

You acknowledge and agree that the Services are the property of Sanctuary™ DEX or its licensors.

Subject to Your compliance with these Terms, Sanctuary™ DEX grants You a limited right to access and/or use the Services. The right to access and/or use the Services is a non-exclusive, non-transferable, revocable, limited license, and it is subject to the limitations and obligations contained herein. Nothing in these Terms gives You any license (other than as set out in this section), right, title, or ownership of, in, or to any of the Services.

You acknowledge and agree that Sanctuary™ DEX retains all rights, title, and interest in and to all copyrights, trademarks, trade secrets, patents, and any other proprietary rights in the Services, the software, and application programming interfaces (APIs) comprising the Services, and all content therein.

You acknowledge and agree that “Sanctuary™ DEX”, its trademark, service mark, logo, and graphics are the registered trademarks or trademarks of Sanctuary™ DEX.

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7. DATA PROTECTION

In order to provide You with the Services, You acknowledge and agree that Sanctuary™ DEX may collect, store and process Your personal data and/or information. By accessing and/or using the Services, You have read, understood, and accepted to the terms of Sanctuary™ DEX’s privacy policy, and You acknowledge and agree that Sanctuary™ DEX may use such data and/or information in accordance with the terms of its privacy policy.

You acknowledge and agree that Sanctuary™ DEX may transfer the information collected as part of the KYC process to other companies affiliated to Sanctuary™ DEX, including to those in foreign jurisdictions, for the purposes of accessing the services provided by those entities. However, in general, Sanctuary™ DEX will ask your permission through the Sanctuary™ DEX Identity service before transferring your personal information to other associated group entities.

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8. TERMINATION

Sanctuary™ DEX may terminate these Terms or suspend Your access to the Services at any time, including, without limitation, in the event of Your alleged or actual misuse of the Services or breach of these Terms.

9. LIMITATION OF LIABILITY

Sanctuary™ DEX is not currently subject to the supervision United States Banking authorities.

Sanctuary™ DEX is not currently allowed to accept deposits in fiat money. 

In no event will Sanctuary™ DEX, its officers, shareholders, employees, agents, directors, subsidiaries, affiliates, successors, assigns, suppliers, or licensors be liable for any loss or damages, including without limitation, direct, indirect, special, consequential, or punitive loss or damages, arising from or related to Your use of the Services, whether in an action of contract, tort or otherwise, and regardless of whether such damages were foreseeable and whether or not Sanctuary™ DEX was advised of the possibility of such damages.

Without limiting the generality of the foregoing, Sanctuary™ DEX takes no responsibility for and will not be liable for any financial or other loss or damages arising from or related to the use of the

Services, including, without limitation, to any of the following: (i) loss of or inability to access or transact data, cryptocurrencies or digital assets; (ii) technical failure, malfunction or shutdown; (iii) server failure, hacks or unavailability; (iv) data loss; (v) stolen, lost, or unauthorized use of Your means of authorization; (vi) errors calculating network fees; (vii) corrupted data on Sanctuary™ DEX’s servers; (viii) incorrectly constructed transactions or mistyped wallet addresses; (ix) failure to update or provide correct information; (x) “phishing” or other websites masquerading as Sanctuary™ DEX; (xi) delays, interruption or loss of services; (xii) loss of business or goodwill.

The Services support are not integrated with third party services. Sanctuary™ DEX takes no responsibility for any third-party services and will not be liable for any loss or damages caused by such third-party services.

The Services are provided on an “as is” and “as available” basis without any representation or warranty of any kind, whether express or implied, to the maximum extent permitted by applicable laws. Sanctuary™ DEX disclaims any implied warranties of title, merchantability, fitness for a particular purpose and/or non-infringement.

In no event will the aggregate liability of Sanctuary™ DEX, arising out of or related to these Terms and/or the Services, exceed the amount of United Stated Dollars 100 (one hundred).

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10. RESTRICTIONS

By accessing and/or using the Services, You acknowledge and agree that You shall not use the Services if applicable laws, based on Your country and state of location, residency and/or citizenship, prohibit You from doing so in accordance with these Terms.

By accessing and/or using the Services, You acknowledge and agree that You shall not use, or assist third parties to use, the Services any way which may constitute a contravention of applicable laws or which may contradict the purposes or hinder the operations of the Services or hinder the operations of other users of the Services.

Without limitation to the foregoing, You acknowledge and agree that You shall not use, or assist third parties to use the Services to, without limitation, avoid taxes, engage into activities that may amount to market abuse (including, without limitation, front-running, wash trades, etc.), engage into illegal gambling, frauds, money laundering or terrorist activities.

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11. INDEMNIFICATION

To the fullest extent permitted under applicable laws, You agree to hold harmless and indemnify Sanctuary™ DEX, its officers, shareholders, employees, agents, directors, subsidiaries, affiliates, successors, assigns, suppliers, or licensors from and against all third party claims and all liabilities, damages, assessments, losses, costs, or expenses (including reasonable attorney fees) resulting from or arising out of (i) Your alleged or actual breach of these Terms, including, without limitation, Your express representations and warranties; (ii) Your alleged or actual use or misuse of the Services; and (ii) Your alleged or actual infringement or violation of any laws or of the rights of a third party.

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12. TAXES

You shall be solely responsible for any taxes applying to the payments You make or receive through the Services, and to collect, report, and remit such taxes to the appropriate tax authorities.

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13. SANCTIONED COUNTRIES

https://home.treasury.gov/policy-issues/financial-sanctions/sanctions-programs-and-country-information

Please review the link above for the latest list of OFAC’s active sanctioned countries.

SPECIAL NOTE: The U.S. Department of the Treasury recently sanctioned the Tornado Cash smart contract. The Tornado Cash contract is used to obfuscate the history of cryptocurrencies on the

Ethereum blockchain. The sanction of Tornado Cash was the first case of a non-individual or country being sanctioned, which could be a precedent for future sanctions of cryptocurrency platforms used for “coin mixing” which hide the movement or origin of funds.

Source: https://home.treasury.gov/news/press-releases/jy0916

 

B. MISCELLANEOUS

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1. ENTIRE AGREEMENT‍

These Terms constitute all the terms and conditions agreed upon between You and Sanctuary™ DEX and supersede any prior agreements in relation to the subject matter of these Terms, whether written or oral.

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2. SEVERABILITY AND WAIVER

Unless as otherwise stated in these Terms, should any provision of these Terms be held totally or partially invalid or unenforceable, such invalidity or unenforceability shall not in any manner affect or render invalid or unenforceable the remaining provisions of these Terms, and the application of that provision shall be enforced to the extent permitted by applicable laws.

The failure of Sanctuary™ DEX to exercise or enforce any of the rights or provisions of these Terms shall not considered as a waiver of Sanctuary™ DEX’s rights to do so.

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3. ASSIGNMENT

Sanctuary™ DEX may assign these Terms and/or delegate any of its obligations hereunder, in whole or in part. You may not assign these Terms or any part of them, nor transfer or sub-license Your rights under these Terms to any third party.

4. NO PARTNERSHIP

Nothing contained in this Agreement shall be deemed or construed to create a principal and agent, partnership or joint venture relationship between You and Sanctuary™ DEX.

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5. FORCE MAJEURE

Sanctuary™ DEX will not be deemed in default of these Terms to the extent that performance of its obligations is delayed or prevented by reason of any external force including, without limitation, war, insurrections, bank failures, strikes, fires, floods, earthquakes, labor disputes, epidemics, governmental regulations, freight embargoes, natural disaster, act of government or any other cause beyond Sanctuary™ DEX’s reasonable control.

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6. GOVERNING LAW AND JURISDICTION

The Terms for the Wallet services offered by Sanctuary™ DEX are subject to and governed by the law of the United States of America and the State of Mississippi to the exclusion of international private law and any international treaties.

The Terms for the DEX services offered by Sanctuary™ DEX are subject to and governed by the laws of Mississippi and the United States to the exclusion of international private law and any international treaties. All disputes arising from or under these Terms shall be subject to the exclusive jurisdiction of the competent courts of Mississippi, and the United States of America for the Wallet Services, and for the DEX Services.

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7. NO CLASS PROCEEDINGS

You will only be permitted to pursue claims against Sanctuary™ DEX and/or Sanctuary™ DEX related services and applications on an individual basis, not as a plaintiff or class member in any class or representative action or proceeding, and You will only be permitted to seek relief (including monetary, injunctive, and declaratory relief) on an individual basis.

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8. TIME BAR

You acknowledge and agree that any claim or cause of action arising out of or in connection with the Services shall be commenced within 1 (one) year after its accrual; thereafter, any such claim or cause of action shall be permanently barred.

 

 

 9. Texting Policy & Communications

Cell phone data, used in the verification process, will not be shared, or sold to third parties. Nor will opt-in consent data and any personal information data.

 

Sanctuary, also known as Sanctuary ™ DEX and Sanctuary DEX Corp, utilizes SMS services from one or more third parties.  Some services provided by Sanctuary require verification of the mobile number being used to host the service.  This is a one-time verification code, for all SMS communications, message and data rates may apply.  SMS carriers are not liable for delayed or undelivered messages.  To halt any future SMS messages, simply reply STOP to cancel.  You can text HELP for assistance with SMS support.

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10. CONTACT

If you have any questions regarding these terms, please contact us at support@sanctuarydex.com.