Terms of Service

Date: September 16, 2022
  1. General
    1. The following terms and conditions of service, together with any other documents expressly incorporated herein, (collectively, the "Terms") constitute an agreement between you ("you", "your" or "User") and Volven AS, a company incorporated and registered in 0251 Oslo, Ruseløkkveien nr 34, Norway, company registration number 927129132 ("Volven", "we", "our" or "us"), and apply to your use of:
      1. the trading platform and services provided through the trading platform (collectively, the "Platform"), as a User to buy, sell, exchange or otherwise transact in (together, "transact in") Digital Assets;
      2. the Volven Application Programming Interface ("API"); and any other services offered through the Volven website (https://volven.io/) (the "Site") or any desktop or mobile application, (together, the "Services").
    1. By registering for a Platform account ("Account") or using the Services, you agree that you have read, understand and accept the Terms, including our Privacy Policy, and you acknowledge and agree that you will be bound by and comply with the Terms. Do not proceed with registering for an Account, or using the Services, if you do not understand and accept the Terms in their entirety.
    2. Volven reserves the right to change, suspend, or discontinue any aspect of the Terms and amend any aspect of the Terms at its sole discretion at any time.
    3. Volven's relationship with you under the Terms is as a trading platform provider only. Volven does not act as principal or counterparty with respect to trades entered into through the trading platform. Unless otherwise expressly agreed on in writing, Volven does not accept any terms other than those specified in these Terms in relation to you as a User.
    4. By accepting these Terms, you agree to receive electronic communications from Volven. Such communications may include information about your Account, transaction information, messages and other information relevant to our provision of the Services.
  1. Structure of terms
    1. In addition to the terms defined elsewhere in these Terms, the definitions below shall apply to these Terms:
      1. Account­­: An account at Volven, created by the Customer for the use of Volven's Services, which will contain information on the Customer and related transaction data, and through which the Customer may initiate transactions.
      2. Affiliates: Volven's business partners who, through Volven's Services, offer access to their Digital Asset Exchanges and digital assets trading platforms, each for themselves, for trading in Digital Assets.
      3. AI: Intelligence demonstrated by machines, as opposed to the natural intelligence displayed by animals including humans, commonly known as artificial intelligence.
      4. API: Application programming interface – a mechanism that enables software components to communicate with each other using a set of definitions and protocols.
      5. Applicable laws: All laws, including rules of common law, principles of equity, statutes, regulations, directives, proclamations, ordinances, by-laws, rules, regulatory principles and requirements, mandatory codes of conduct, writs, orders, injunctions, judgments and any awards of other industrial instruments, which are applicable to the provision, receipt or use of the Services or any products or other deliverables provided, used or received in connection with the Services.
      6. Application: The applications through which a Customer may use Volven's Services: Volven´s desktop application, the mobile application and any other applications provided from time to time by Volven for this purpose.
      7. BankID: A form of electronic identification system.
      8. Customer: Legal persons and natural persons together.
      9. Customer relationship: An ongoing customer relationship between a Customer and Volven, the purpose of which is for a Customer to use Volven's services.
      10. Desktop application: A desktop application developed by Volven through which Users can access Volven's Services and User Account.
      11. Digital Assets: BTC, ETH, ADA and any other digital asset, cryptocurrency, virtual currency, token, leveraged token, stablecoin, tokenised stock, volatility token, tokenised futures contract, tokenised option or other tokenised derivatives product that is supported by and made available from time to time to transact in using the Services.
      12. Markets: BTC/USDT, ETH/USDT and any other Digital Asset pairings which are provided by Exchanges for Users to trade Digital Assets.
      13. Mobile application: A mobile application developed by Volven through which Users can access Volven's Services and User Account.
      14. Regulatory Authority: Any foreign, domestic, state, federal, cantonal, municipal or local governmental, executive, legislative, judicial, administrative, supervisory or regulatory authority, agency, quasi-governmental authority, court, commission, government organisation, self-regulatory organisation having regulatory authority, tribunal, arbitration tribunal or panel or supra-national organisation, or any division or instrumentality thereof, including any tax authority.
      15. Strategy: Set of rules as code that define a combined trading logic for transacting in a Market.
  2. Volven's Services
    1. The Services
      1. By registering for an Account at Volven's Platform, you gain access to our Services and the opportunities accompanied with it to transact in Digital Assets. Volven's Services consists of providing a trading platform which allows you to interact with different Digital Asset exchanges and Digital Assets trading platforms ("Exchanges") operated by third parties ("Affiliates") and transact in Digital Assets. Volven does not provide a Digital Asset exchange, custody or brokerage services, and does not own and has no control over the Exchanges. Thus, Volven has no control over the trades conducted through its trading platform and does not receive, transfer or hold Digital Assets on behalf of you. In order for you to use Volven's Services, you shall have an active External Exchange Account with the relevant Exchange. The Exchanges may require you to hold a minimum amount of funds in the External Exchange Account.
      2. Volven's Services consist of providing an algorithmic system enabling you to monitor and participate in Markets on Exchanges. The algorithms are user driven, customizable and modular, meaning you may customize the use of Volven's Services depending on your preferences. Through the customization, the chosen algorithms enable you to make one-click trading in Digital Assets through automated forwarding of transactions as preferred around the hour. Through the monitoring of different Exchanges, the algorithms of Volven collects information on trades that are being made on the Exchanges, enabling Volven to detect and predict the different market states, the volatility of Digital Assets, allowing strategy and direct trading, and thereby forward transaction requests as per your strategy- or direct order requirements.
      3. By our interconnections with the Affiliates, you will find the trading platforms and their respective Markets that we support from time to time in relation to our Services on our desktop application and mobile application. We select which Affiliate we interconnect with carefully, based on various criteria such as technical compatibility and market efficiency. We may, at our sole discretion, decide to interconnect with additional Affiliates or stop interconnecting with previously supported Affiliates.
      4. If we cease to connect with an Affiliate, we will provide you with a notification to this effect via our desktop application, mobile application or e-mail depending on your use of the applications, and inform you of the closed possibilities to transact in Digital Assets that are provided in the Affiliate's trading platform. In the notification, we will specify the date on which we will cease to interconnect with the relevant Affiliate, which date will be no earlier than 5 banking days after the date of the notification (unless a shorter period is required to comply with applicable law or order from a competent authority).
  3. License
      1. Volven grants you a limited, non-exclusive, non-sublicensable, and non-transferable license, subject to the Terms, to access and use the Services solely for approved purposes as determined by Volven. Any other use of the Services is expressly prohibited. Volven reserve all rights in the Services, and you agree that the Terms do not grant you any rights in, or licenses to, the Services except for the limited license set forth herein.
      2. You may gain access to our Services via our website (https://volven.io/), our desktop application or mobile application. Regardless of the access method chosen, the Services will be provided by Volven and subject to these Terms.
      3. Except as expressly authorised by Volven, you agree not to modify, reverse engineer, copy, frame, scrape, rent, lease, loan, sell, distribute, or create derivative works based on the Services, in whole or in part. If you violate any portion of the Terms, your permission to access and use the Services may be terminated pursuant to the Terms.
    1. API use
      1. Subject to your compliance with the Terms and any other agreement which may be in place between you and Volven relating to your use of the API, Volven grants you a limited, revocable, non-exclusive, non-transferable, non-sublicensable license, to use the API solely for the purposes of trading through the Services. You agree to not use the API or data provided through the API for any other purpose. You agree your access and use of the API shall be entirely at your own risk, and that Volven will not be responsible for any liabilities that you incur as a result of the use of the API or actions you take based on the API.
      2. Volven may, at its sole discretion, set limits on the number of API calls that you can make, for example, to maintain market stability and integrity. You acknowledge and agree that if you exceed these limits, Volven may moderate your activity or cease offering you access to the API (or any other API offered by Volven), each in its sole discretion.
      3. Volven may immediately suspend or terminate your access to the API without notice if we believe you are in violation of the Terms or any other agreement which may be in place between you and Volven related to your use of the API.
  4. Applicable Laws and Regulations
    1. Compliance with applicable laws
      1. You agree and understand that by opening an Account and using the Services in any capacity, you shall act in compliance with all Applicable Laws. Failure to do so may result in the suspension of your ability to use the Services or the closure of your Account.
      2. Without limitation to the above, your access to and use of your Account and the Services, and the receipt of any fee discounts and rebates, is subject to your continued compliance with all Applicable Laws, including the rules and directions of any applicable Regulatory Authority and, without limitation, all applicable tax laws and regulations.
  5. Authority
    1. By registering an Account and using Volven's Services, you certify that you:
      1. are at least 18 years old,
      2. are a natural person, or a representative of a legal person with legal capacity and authority to enter into these Terms,
      3. have not previously been suspended from or prohibited from using Volven's Services, and
      4. do not already have an Account.
    1. By registering an Account as a representative of a legal person, you certify that:
      1. the legal person is duly registered and exist in accordance with the laws of the jurisdiction of its organisation, and
      2. that you have legal capacity and authority to enter into a customer relationship and carry out transactions for the legal person that you represent.
  1. Registration and verification
    1. In order to use our Services, you must register an Account. When subscripting to any of our advanced services (the "Additional Services"), you must be identified and verified as described below.
    2. When registering your Account, Volven does not perform any know-your-customer measures and instead relies on the measures taken by the Affiliates providing the Exchanges in which you transact in.
    3. If you wish to subscript on any of our Additional Services, you will be asked to provide payment information which is complete, accurate, up-to-date and not misleading for all required elements, including your full legal name.
    4. You permit us to keep a record of such information and authorise us to make any enquiries, directly or through third parties that we consider necessary to verify your identity or protect you and/or us against fraud or other financial crime, and to take any action we reasonably deem necessary based on the results of such inquiries. When we carry out these enquiries, you acknowledge and agree that your personal information may be disclosed to credit reference and fraud prevention or financial crime agencies and that these agencies may respond to our inquiries in full.
    5. You represent and warrant that any and all information provided to us in connection with your subscription to the Additional Services, using the Services, pursuant to the Terms or otherwise is complete, accurate, up-to-date and not misleading in any respect. If any such information changes, it is your obligation to update such information as soon as possible and provide such updates to us.
    6. Your access to the Services and the limits that apply to your use of the Services may be altered as a result of information collected about you on an ongoing basis.
    7. If any (or we suspect that any) of the information that you have provided to us is not complete, accurate, up-to-date or misleading in any respect, or you fail to provide updates to any information that you have provided to us to ensure that it is complete, accurate, up-to-date and not misleading in any respect on a timely basis, we may suspend your ability to use the Services or close your Account at our discretion.
    8. We reserve the right to maintain your Account registration information after you close your Account for business and compliance purposes, subject to Applicable Laws.
  2. Your Account; Security of user information
    1. You may access your Account (and the Services) directly via the desktop application, the mobile application or by such other mode of access (including but not limited to through the APIs) as Volven may prescribe from time to time, using the account names, User IDs, passwords, and other security features ("User Credentials and Security Passwords") made available to you by Volven for the purposes of enabling you to access your Account (and the Services). You are responsible for maintaining the confidentiality and security of any and all User Credentials and Security Passwords, which includes the enabling of all relevant security features. You are responsible for keeping your email address up to date in your Account profile.
 
    1. You are only permitted to access your Account using your own User Credentials and Security Passwords. You must ensure that your Account is not used by any other third party and you must not share your User Credentials and Security Passwords with any third party. You are solely responsible for all activity on your Account.
    2. You agree to notify Volven immediately if you become aware of any breach of security, loss, theft or unauthorised use of your User Credentials and Security Passwords, or unauthorised use of the Services via your Account, or any other breach of security regarding the Services. Volven will not be liable for any loss or damage arising from your failure to protect your Account or your User information. It is important that you regularly check your Account balance and your transaction history to ensure any unauthorised transactions or incorrect transactions are identified and notified to us at the earliest possible opportunity.
    3. Volven reserves the right to suspend your ability to use the Services or close your Account if we suspect that the person logged into your Account is not you or we become aware of or suspect that there has been any breach of security, loss, theft or unauthorised use of your User Credentials and Security Passwords.
    4. In order to access your Account (and the Services) you must have the necessary equipment (such as a computer or smartphone) and access to the Internet. You are solely responsible for your own hardware used to access the Services and are solely liable for the integrity and proper storage of any data associated with the Services that is stored on your own hardware. You are responsible for taking appropriate action to protect your hardware and data from viruses and malicious software, and any inappropriate material.
    5. Except as provided by Applicable Law, you are solely responsible for backing up and maintaining duplicate copies of any information you store or transfer through our Services. Neither Volven nor any other indemnified party shall be liable to you: (i) in the event that your hardware fails, is damaged or destroyed or any records or data stored on your hardware are corrupted or lost for any reason; (ii) for any damage or interruptions caused by any computer viruses, spyware, or other malware that may affect your computer or other equipment, or any phishing, spoofing, or other attack; or (iii) for your use of the Internet to connect to the Services or any technical problems, system failures, malfunctions, communication line failures, high internet traffic or demand, related issues, security breaches or any similar technical problems or defects experienced.
  1. Use of the services
    1. Automated transaction system
      1. The use of our Services enables you to set preferences on the transactions you wish to make. Based on the information you provide to us, our API system will see which Market, to what side and the amount you wish to transact in, including the price (or price range) that shall apply. When creating a strategy or placing an order, you will be able to set your preferences for completion conditions based on the given strategy's parameters or order values. Based on the preferences set, the API system will monitor your selected trading platforms with your strategy and make the best possible (automated) forwardings until the strategy's completion conditions are met.
    2. Fees
      1. Volven does not charge any fees or commissions from you for registering an Account and/or accessing and/or using our Services. Furthermore, no fees shall apply for the transactions that are being made through our Services. You acknowledge, accept and agree that Volven at its own discretion may change this rule and charge you for the transactions being made through our Services, with prior notice being sent to you of such change. You further acknowledge, accept and agree that Exchanges may charge fees for conducting trades in such Exchanges through Volven's Services. You also acknowledge, accept and agree that Volven may receive a fee or commission arising from the fees and commissions charged by Exchanges to you.
      2. Depending on whether you wish to use the more advanced services which Volven offers, which includes more advanced algorithms and more developed statistical data etc., Volven takes subscription fees for such services.
    3. Cancellations
      1. Strategies that have been created by you, or orders that have been placed by you, to your selected trading platforms may be canceled before the completion conditions are met. In the event of canceling a strategy, the strategy will cancel all related active orders and stop all future transactions. The strategy may later be resumed, upon your request, to continue trading from where it left off.
      2. In the instance that you have insufficient funds during the time an order is active, any possible transactions based on your order will be cancelled. You are responsible for maintaining a sufficient balance and/or sufficient credit limits to avoid overdrafts, insufficient coverage or fees that may be charged by your payment provider, as well as for maintaining a sufficient balance in your bank account or digital assets wallet.
  2. Restrictions on the Services and their use
    1. Volven's website and Services are not directed at persons who, according to the applicable law, are prohibited from having access to or using such websites and services due to their citizenship, residence or domicile. Persons who are prohibited from accessing the information on the website, or those who are in doubt as to whether they are permitted to access or use Volven's Services, are kindly asked to leave Volven's website.
    2. You as a Customer agree to follow the applicable law, these Terms and all guidelines and policies announced from time to time by Volven regarding the Services.
    3. Any use of the Services for illegal purposes is prohibited, including but not limited to directly or indirectly promoting:
  1. money laundering, financing of terrorism, financing of weapons of any kind;
  2. transferring of funds to blockchain mixers, tumblers and other services that hide the origin or destination of the funds;
  3. illegal purchases or sales of goods, technology, services or other transactions with third parties, including the transfer of funds;
  4. transferring funds to exchanges registered in any high-risk jurisdiction (which constitutes non-cooperative countries or territories), such as Iran and North Korea;
  5. any other use contrary to applicable law.
    1. To use "deep link", "page scrape", "robot", "spider" or other automatic device, program, script, algorithm, method or process to access, obtain, copy or monitor any part of Volven's property or on any way reproduce or circumvent the functionality of the Services to obtain or attempt to obtain materials, documents or information in a manner not intentionally made available through the Services is prohibited.
    2. Probing, scanning or testing the vulnerability of Volven's Services or networks connected to them, or violating the security or authentication measures of the Services or any network connected to the Services is prohibited.
    3. To take any action that imposes an unreasonable or disproportionately large load on the infrastructure of the Services or Volven's systems or networks, or systems or networks connected to the Services, or to use any device, software or routine for the purpose of interfering with the operation of the Services or any other person use of the Services is prohibited.
    4. You may not impersonate any other person, manipulate identifiers, or use the Service via social manipulation to disguise the identity or origin of any message or transmission sent to the Services.
    5. Your use of our Services must not violate any public interest, public ethics or the legitimate interests of others, including but not limited to taking actions that may interfere with, adversely affect or prohibit other Customers from using the Services.
    6. In the event of prohibited use of the Services, Volven will take action by canceling and blocking the Account or transaction and, if the violation of these Terms is material, take legal action.
  1. Risks and warnings

Before beginning to use the Services, you should ensure you have read and understand (and you represent and warrant that you have read and understand) the following risk disclosures. You should note that this is not an exhaustive list of all of the risks associated with Digital Assets and the Services.

    1. No advice and no reliance
      1. Volven does not advise on the merits of any particular transaction, trading risks, or tax consequences, and Volven does not provide any other financial, investment, taxation or legal advice in connection with the Services. To the extent that we or our representatives provide market commentary, or any other information, the act of doing so is incidental to your relationship with us and such information should not be construed as investment or financial advice. Any decision by you to use the Services and transact in Digital Assets is your own independent decision. You represent that you are not relying on any communication (written or oral) by us as investment advice or as a recommendation to use the Services and transact in Digital Assets. Volven will not be liable for any loss suffered by you or any third party.
      2. You accept the risk of trading Digital Assets. In entering into any transaction through the Services, you represent that you have been, are, and will be solely responsible for making your own independent appraisal and investigations into the risks of such transaction and the underlying Digital Asset. You represent that you have sufficient knowledge, market sophistication, professional advice and experience to make your own evaluation of the merits and risks of any transaction entered into through the Services or any underlying Digital Asset.
      3. Volven is not your broker, intermediary, agent, or advisor and has no fiduciary relationship or obligation to you in connection with any trades or other decisions or activities effected by you using the Services.
    2. Digital Asset transfers and volatility
      1. Digital Assets and their pricing are inherently not guaranteed by any organization or government, and therefore Digital Assets cannot be considered a monetary asset. Cryptographic units of value are not currencies in the legal sense and are only accepted as means of payment in a few jurisdictions and only by certain market participants. Digital Assets consequently have a very limited area of ​​use as means of payment and the highly volatile pricing increases the risk that a Customer may lose all or part of their investment in Digital Assets.
      2. Trading in Digital Assets can be extremely risky and volatile. Digital Assets may have unique features that make them more or less likely to fluctuate in value. Factors beyond Volven's control, such as regulatory activity or unexplainable price volatility, may affect market liquidity for a particular Digital Asset. Blockchain networks may go offline as a result of bugs, Forks, or other unforeseeable reasons. As a general matter, you should not engage in active trading through the Services if you have limited trading experience or low risk tolerance. Speculating on the value of Digital Assets is high risk and you should never trade more than you can afford to lose.
      3. Understanding Digital Assets requires advanced technical knowledge. Digital Assets are often described in exceedingly technical language that requires a comprehensive understanding of applied cryptography and computer code in order to appreciate the inherent risks. The listing of a Digital Asset on the Platform does not indicate Volven's approval or disapproval of the underlying technology of any Digital Asset and should not be used as a substitute for your own understanding of the risks specific to each Digital Asset. We provide no warranty as to the suitability of the Digital Assets traded under the Terms and assume no fiduciary duty to you in connection with such use of the Services.
    3. Supply and value of Digital Assets
      1. The value of Digital Assets may be derived from the continued willingness of market participants to exchange Digital Assets for fiat currency and other Digital Assets, which may result in the permanent and total loss of value of a particular Digital Asset should the market for that Digital Asset disappear.
      2. You acknowledge and agree that Digital Assets and/or Services (in whole or in part) available in one jurisdiction may not be available for trading, use or access, as applicable, in another.
    4. Software protocols and operational challenges
      1. The software protocols that underlie Digital Assets are typically open source projects or are otherwise operated by third parties, which means that: (i) the operations, functionalities, development and control of such Digital Assets and their underlying networks are outside of Volven's control; and (ii) such software protocols are subject to sudden and dramatic changes that might have a significant impact on the availability, usability or value of a given Digital Asset.
      2. You are aware of and accept the risk of operational challenges that may impact the Services. The Platform may experience sophisticated cyber-attacks, unexpected surges in activity, bugs or other operational or technical difficulties that may cause interruptions to the Services. You understand that the Services may experience operational issues that lead to delays. You agree to accept the risk of transaction failure resulting from unanticipated or heightened technical difficulties, including those resulting from sophisticated attacks. You agree not to hold Volven liable for any related losses.
      3. You understand that the technology underlying Digital Assets is subject to change at any time, and such changes may affect the Digital Assets you transact in. You are fully responsible for monitoring such technological changes and understanding their consequences for your Digital Assets.
      4. Users conduct all trading on their own account and Volven does not take any responsibility for any loss or damage incurred as a result of your use of any Services or your failure to understand the risks associated with Digital Assets use generally or your use of our Services.
      5. Digital Assets depend on the availability and reliability of power, connectivity, and hardware. Interruption or failure of any of these things may disrupt the networks on which the Digital Assets rely or your ability to access or transact in Digital Assets.
    5. Miscellaneous
      1. Since the Services are Internet-based, there is a risk of data breaches, Internet vulnerabilities, theft and other cyber-related property crimes. Volven encourages its Customers to take the necessary precautions to reduce such risks on their part by ensuring due care when using the Services, following Volven's instructions carefully and acquiring knowledge regarding these risks. To reduce the risk of unauthorized use of your Account, you may not use the Services by using third party providers or by accepting support from any third party. You may only use the Services via Volven's desktop application or mobile application, acting solely of your own will and not for the benefit of anyone other than yourself. By not complying with these Terms, you increase the risk of falling victim to fraud committed by third parties.
      2. Customers should inform themselves about the relevant tax consequences of buying, selling, owning and trading Digital Assets in their jurisdiction.
      3. Although we use our best efforts to keep the information related to the Services as accurate, complete and up to date as possible, there is a risk that the information related to the Services may not be accurate, complete or up to date.
    6. Compliance
      1. You are responsible for complying with all Applicable Laws. You agree that Volven is not responsible for determining whether or which laws and regulations may apply to your transactions, including but not limited to tax laws and regulations. You are solely responsible for reporting and paying any taxes arising from your use of the Services.
    7. Legislative and regulatory changes
      1. Legislative and regulatory changes or actions at the domestic or international level may adversely affect the use, transfer, ability to transact in, and value of Digital Assets, or your access to, and our ability to provide, the Services. You acknowledge and accept the risks that such changes may bring and that Volven is not liable for any adverse impact that that you may suffer as a result.
    8. Reliance on third parties
      1. Your use of the Services and the value of certain Digital Assets may rely on the acts of third parties or the fulfilment of related obligations by third parties. Volven is not responsible for the acts or omissions of such third parties.
  1. No guarantees
    1. We do not represent that you will be able to access your Account or the Services at all times. Your Account and the Services are made available to you without warranty of any kind, either express or implied. There are no guarantees that access will not be interrupted, or that there will be no delays, failures, errors, omissions or loss of transmitted information. This could result in the inability to trade through the Platform for a period of time and may also lead to time delays. We may, from time to time, suspend access to your Account and the Services, for both scheduled and emergency maintenance.
    2. You acknowledge and agree that neither Volven nor any other Indemnified Party shall have any liability to you or any third party for the correctness, quality, accuracy, security, completeness, reliability, performance, timeliness, pricing or continued availability of the Services or for delays or omissions of the Services, or for the failure of any connection or communication service to provide or maintain your access to the Services, or for any interruption in or disruption of your access or any erroneous communications between Volven (or any other Indemnified Party) and you, regardless of cause.
    3. Volven may determine not to make the Services, in whole or in part, available in every jurisdiction, either in its sole discretion or due to legal or regulatory requirements. In addition, Volven may determine not to make the Services, in whole or in part, available to you, depending on your location.
  2. Right to change, suspend or discontinue services
    1. We reserve the right to change, suspend, or discontinue any aspect of the Services at any time and in any jurisdiction, including hours of operation or availability of any feature, without notice and without liability. We may advise you of any such changes, suspensions or discontinuations via your Account or the other contact details that you have provided to us but shall have no obligation to do so.
    2. If you do not agree with any change, suspension, or discontinuance of any aspect of the Services, then your sole and exclusive remedy is to terminate your use of the Services and close your Account. You agree that neither we nor any other Indemnified Party shall be liable to you or any third party for any losses suffered as a result of any such changes, suspensions, discontinuations or decisions.
  1. Updates to the Terms
    1. We reserve the right to amend any part of the Terms, at any time, by posting the revised version of the Terms on the Site, with an updated revision date. The changes will become effective, and shall be deemed accepted by you, the first time you use the Services after the initial posting of the revised Terms and shall apply on a going-forward basis with respect to transactions initiated after the posting date. You acknowledge that it is your responsibility to check the Terms periodically for changes.
    2. If you do not agree with any amendments to the Terms, your sole and exclusive remedy is to terminate your use of the Services and close your Account. You agree that neither we nor any other Indemnified Party shall be liable to you or any third party for any Losses suffered as a result of any amendment of the Terms.
  2. Taxes
    1. You will be able to see a record of your transactions via your Account which you may wish to use for the purposes of making any required tax filings or payments. It is your responsibility to determine what, if any, taxes apply to your activities through the Services, and to collect, report, and remit the correct tax to the appropriate tax authority.
    2. Volven is not responsible for determining whether taxes apply to your transaction, or for collecting, reporting, or remitting any taxes arising from any transaction.
  3. Privacy Policy
    1. We are committed to protecting your personal information and to helping you understand exactly how your personal information is being used. You should carefully read our Privacy Policy, which provides details on how your personal information is collected, stored, protected, and used.
  4. Limitation of liability
    1. Where not already specified in the Terms above, Volven's Services are provided in an "as is" basis and your use of the Services are solely your responsibility. You are solely responsible for the consequences of your access to, and use of our Services and any losses or expenses incurred as a result of the use of our Services. Volven shall not be liable to you in contract, tort (including negligence), equity, statute or any other cause arising out of or in connection with the Terms (or arising out of or in connection with: your inability to use the services; any goods, data, information, or services purchased or obtained or messages received or transactions entered into through or from the Services; unauthorized access to or alteration of your transmission or data; or any other matter relating to the Services) for:
  1. incidental, punitive, exemplary or other special loss or damage; or loss of profit; loss of revenue, loss of goodwill, loss of use, loss of business or contract, lost opportunities, increased costs or expenses, loss of savings, any liability voluntarily assumed by you, or loss or damage to data, in each case regardless of whether such loss or damage was direct or indirect, foreseeable or unforeseeable; or
  2. indirect or consequential loss of damage.
    1. You acknowledge and agree that Volven relies on one or more third parties for the purposes of providing the Services. The third parties are independent third parties and are not agents to or subcontractors to Volven. Volven shall not be liable for the acts or omissions of any third party, or any losses arising from the fault of any third party, such as a failure by a third party to comply with applicable laws or any reasonable instructions provided by Volven.
    2. Volven shall not be responsible or liable to you for any loss and take no responsibility for, and will not be liable to you for, any use of the services, including but not limited to any losses, damages or claims arising from: user error such as forgotten passwords or incorrectly constructed transactions; server failure or data loss; unauthorized access to the Services; or any third party activities,, including without limitation the use of viruses, phishing, bruteforcing or other means of attack against your computer or any blockchain network underlying the services.
    3. We remind you that dealing with Digital Assets involves significant risks, see Section 11 above, and that Customers use our Services at their own risk.
  1. Communications in English
    1. The Terms are provided to you and concluded in English. We will communicate with you in English for all matters related to your use of our Services unless we elect, in our sole discretion, to provide support for other languages.
  2. No counseling
    1. Nothing in these Terms or Volven's provision of the Services or communications in connection therewith shall constitute legal, tax or investment advice. Customers should consult the legal, tax and investment advisors they deem appropriate in connection with the use of the Services.
  3. Governing law and Dispute resolution
    1. The Terms and any Dispute shall be governed by, and construed in accordance with, Norwegian law.
    2. Any disputes and claims that arise in connection with these Terms or the Services shall be settled by Norwegian courts, with Oslo district court as the agreed court in first instance.
  4. Miscellaneous
    1. If a competent court assesses that any provision of these Terms is invalid or unenforceable, this shall not affect the validity and enforceability of the Terms in general, which shall continue to have continued validity unchanged.
    2. These Terms constitute the entire agreement between you and Volven. Other practices or usages between the parties shall not be used to modify, interpret, supplement or change these Terms.
    3. Volven's failure or delay in exercising any right under these Terms shall not be construed as a waiver of such right.
    4. Force majeure: Volven is not responsible for any kind of damage you may suffer from events beyond Volven's control. These events include, but are not limited to, explosion, fire, flood or other accident, epidemic, pandemic, sabotage, war event, strike or other labor-related conflict, changes in laws or regulations or other government action. The conditions regarding strikes or other work-related conflicts also apply in cases where Volven undertakes or is the subject of such a conflict. In addition to what is normally understood as events beyond Volven's control, further events that make the provision of the Services more costly or burdensome for Volven compared to what is the case under normal circumstances shall be considered covered.
    5. The customer is not entitled to assign any rights or obligations under these Terms.
    6. The headings in each Section are for ease of reading only and shall not be used to limit or interpret such Sections.