Terms of Service

Introduction

Welcome to DeeX (“DeeX”, “We”, “Our”), and thanks for choosing our website, application, or another medium through which we provide our services (“Platform”).

This Terms of Use sets out our Client’s (“you”, “your”) rights and liabilities in the course of our relationship. As such, this is a legal agreement and legally binding document between you and DeeX.

By continuing to use our Platform or any of our services, you acknowledge and agree that you have read these Terms and you agree to all of them. If you have any inquiries on any parts of these Terms or you require any clarification, please contact us via privacy@deexoptions.com .

Version control, modifications, and notification of change

  • This version of the Terms is version 1.0.
  • We reserve the right to amend or modify these Terms at any time. When we make any such modification, we will notify you by posting the revised Terms of Use on our Platform. You acknowledge and agree that your continued use of the Platform after such change constitutes acceptance of the revised Terms.
  • You should check these Terms on our Platform periodically for changes. We may occasionally send out emails to customers whose emails we have on file on any material change made to this Platform.
  • All changes shall be effective upon posting, and we will also revise clause (2.1) stated above to reflect the changes made and the last updated time.

Nature of DeeX Platform

We are a cryptoasset service provider engaged in the provision of a range of services including those outlined below;
  • Hosted Wallet and Custodial Services
    On the DeeX Platform, you may host your wallet for the collection and transfer of cryptoassets of a specified kind. We determine based on internal listing rules the types of cryptoassets that you can hold on our hosted wallet or through our cryptoasset custodial service.
  • Over-The-Counter Trades
    Aside from our hosted services, you may also make one-time cryptoasset purchases from our Platform. This includes small orders and large, bulk orders to a specified cryptoasset wallet subject to our compliance requirements and a specified agreement between DeeX and you.
  • Gift and stored value cards
    You may also purchase gift and stored value cards from the DeeX Platform. However, this must be in compliance with the policy of DeeX and after proper Know Your Customer (KYC) measures have been completed.
  • Cryptoasset Payment Services
    You may accept or receive payments from your customers through our Platform. Where this is done, the rates shall be as previously disclosed for the day and within the time range when the actual transaction occurs or is consummated.

Account Authorisation

When you open a wallet or account with DeeX or on our Platform, you will be required to create a password and other authentication measures. This is to help us ensure that whoever is opening and using the account is either yourself or someone you have duly authorised. The following are some key terms in relation to your account authorisation;
  • Password Maintenance
    Your passwords are best curated in line with best practices. You may review the GDPR password standard here or use other resources while coming up with your unique passwords. We recommend a periodic change of passwords and may introduce measures to force such review after some time. You acknowledge and agree to abide by our password standards.
  • Account takeover or Security Breach
    If you find any suspicious activity in relation to your account or you have reasons to believe that someone is trying to hack into or take over your account, please contact our fraud desk via privacy@deexoptions.com or customer service team via support@deexoptions.com so that we can place your account on hold as an interim measure to protect your assets.

    However, please note that such prompt reporting does not mean that DeeX will reimburse you or indemnify you for amounts lost to the account takeover or security breach.
  • No reversals and cancellations of orders
    If after due authentication and login to your account, an order for cryptoassets or gift cards is made from your account, you acknowledge and agree that the order is and at all times should be deemed as yours. You further acknowledge and agree that we will not process any reversal of purchase or cancellation of orders after it has been made.

Wallet Transfers

  • Outbound Transfers
    You may make payouts on the DeeX platform to other cryptoasset wallets. However, please note that as a centralised exchange we may prohibit or restrict certain payouts to exchanges known to facilitate or involve financial crimes to manage our own compliance risks.
  • Inbound Transfers
    You may collect payments and transfers from other crypto-asset wallets into your DeeX wallets on the Platform. However, you acknowledge and agree that all payments and transfers made into your DeeX wallet shall be from a legitimate source(s). Where necessary, we may require you to provide proof of funds, source of funds or an explanation of the economic purpose of the payment in accordance with our compliance obligations under the law.

Taxes and Outgoings

  • Liability for Tax
    You acknowledge and agree to bear all the liability for payments of taxes, levies, and outgoings applicable in your jurisdiction. This shall include value-added tax, capital gains tax, company income tax, or any other tax applicable to your dealings or business through the use of DeeX.
  • Indemnification for Tax evasion
    Flowing from the above, you agree to indemnify and make whole DeeX for any regulatory action, damages, fines, or penalties that may occur as a result of your failure to carry out your payment obligations in clause 6.1. above.

Eligibility to use DeeX’s services

  • Persons below 18
    DeeX Services are not meant for persons under the age of 18. However, we do not limit inbound payments to wallets from persons under the age of 18 as we do not have full visibility into the person’s age.

    Nonetheless, we will not bear responsibility for any liability arising from the provision of services to persons under 18 where our payment Service is deployed to collect payment from such person. By using our payment Service, you acknowledge and agree that you shall ensure that persons making payments to your wallet are competent persons with sufficient capacity under the law.
  • Illiterate Persons
    Where you are supporting an illiterate person to onboard on the DeeX Platform, you acknowledge and agree that you are the truly and validly appointed trustee of the illiterate.

    You further acknowledge and agree that you have explained the relevant parts of the onboarding program to the illiterate in the language that they understand and they have signified their understanding by appending their signature or mark on a validly executed jurat which we may ask you to present at any time of the customer lifecycle on our Platform.
  • Persons with Visual Impairment
    Where you are supporting a visually impaired or illiterate person to onboard on the DeeX Platform, you acknowledge and agree that you are truly appointed trustee of the visually impaired or elderly person and that you have fully explained all the risks and content of these terms of use to the visually impaired and elderly person to their full understanding.

Onboarding Support

  • Where you are opening an account with us on behalf of your company, you declare that you are the duly appointed representative of the company for the purpose and you agree to indemnify DeeX for any loss or damage that we may incur if your declaration is false.
  • If you require support to complete the onboarding on our Platform, you may reach out to us via support@deexoptions.com and a customer representative will be assigned to assist you or answer any questions you may have.

Risk Warning

  • Trading in cryptoassets, even stablecoins, is risky. You could lose all of your money while trading and prices can be really volatile. You can also lose money holding or selling cryptoassets. Please consult with a qualified financial advisor to properly identify your risk appetite and advise on whether dealing in or holding cryptoassets is suitable for you.
  • By proceeding with an onboarding application on our Platform, you acknowledge and agree that you have read this risk warning, contacted your financial advisor and you’ve been advised to proceed with dealing with or holding cryotoassets.
  • Please also note that we do not have any registration with the Nigerian Securities and Exchanges Commission or any other securities regulator at the moment. As the regulatory landscape becomes more defined, we will engage the regulators and proceed to procure our licence. By proceeding to use our Services, you acknowledge and agree that you have reviewed this disclosure.

Third-Party Access

  • If you authorise a third party to access your account or wallet with DeeX through Application Programming Interface (API) or any other medium through DeeX Platform or from a third-party platform, you agree that such authorisation shall be within acceptable limits at DeeX.
  • You further acknowledge and agree that you shall be fully responsible for all the acts and omissions of the third party you have authorised to access your Platform. You indemnify DeeX from any harm or liability that such shared access may cause to us.
  • You further acknowledge and agree that the authorised third parties will not be using your account for illegal purposes or purposes not in line with our acceptable use policy.

No Investment or Financial Advice

Please note that we do not offer any investment or financial advice on this Platform. Nothing in these Terms of Use or on our Platform should be construed and providing advice on the direction of any cryptoasset or gift cards. Consult always with your financial advisor before executing trades on the Platform or making any investment in a cryptoasset.

Dormant Account

  • We expect that you will be active on the Platform as we strive to provide best-in-class services to you. However, where your account is dormant for a certain period of years set under applicable laws and regulations, we may treat the account and the assets in the account in accordance with those applicable laws and regulations.
  • We may contact you prior to such action in relation to such account and treatment of your unclaimed funds or assets. Where there is no response in a reasonable time or within the time stipulated under applicable laws and regulations, we will proceed in accordance with the stipulations of law on dormant accounts.

Platform Maintenance

  • From time to time, we will need to conduct routine or unscheduled maintenance on our Platform in a bid to provide optimum service to you. During this period, our Platform or services may be temporarily unavailable or restricted. We apologise for any inconvenience this may cause and we shall ensure that the maintenance is completed in a reasonable time.
  • You acknowledge and agree that we may conduct such maintenance as described and we shall bear no liability to you for such period of unavailability or service restrictions due to maintenance.

Fees and Pricing

  • Our fees for the provision of our Services or use of our Platform are set out in the Fees and Pricing[1] section of our website. Further fees or charges payable may be provided within the application or other medium used to access the Platform
  • You acknowledge and agree to pay the fees and charges associated with the use of DeeX Platform. You also agree that the charges may be deducted automatically after the completion of such Service.
  • Where a separate fee or price is agreed between you and DeeX by virtue of a written agreement that effectively varies these Terms of Use, you agree to abide by such revised fees and charges.
  • Where there are any arrears in fees or charges, they shall be paid at the prevailing rate at the time it was incurred. Where the default has occurred for a period exceeding one (1) month, interests shall be paid on such accumulated fees at the rate of 1% (One Percent) per month.

Privacy and Data Protection

  • We take the privacy of our users seriously. When we process your data or those of your customers, we do so in accordance with applicable laws and regulations including Nigerian Data Protection Regulations 2019.
  • By accepting these terms of use, you acknowledge and agree that we can process your data on a lawful bases in accordance with our privacy notice as may be updated from time to time.
  • You acknowledge and agree that we may record our conversations with you for quality assurance and regulatory compliance purposes. This may include telephone, email, and chat conversations or other forms of communication, activities, and transactions with us. These records may also be used as evidence in any proceedings relating to our agreement with you and such records will be our sole property.

Acceptable Use Policy

  • You acknowledge and agree that you shall not use our Services or Platform for any of the following listed activities;
    - Illegal products and services such as fake ID providing services, manipulation devices, illegal drugs and substances, procurement of violence and other illegal products and services;
    - Products and services that infringe on the intellectual property of another person or entity;
    - Predatory, deceptive, unfair, or predatory services;
    - Fraudulent services such as romance scams, pig butchering and other forms or types of fraud;
    - Adult content and services such as pornographic materials, prostitution procurement, etc;
    - Legal services outside of the legal service fees payment such as bail bonds, bankruptcy, or property payments;
    - Purchase or sale of firearms, explosives, or otherwise dangerous weapons or materials;
  • You further acknowledge and agree that you shall not;
    - Reverse engineer, decompile, circumvent or avoid any security measures on the Platform;
    - Enter into manipulative trades of any kind on or through the Platform such as holding long and short positions on the same stock, insider trading etc;
    - Act in an unfair, abusive, manipulative or illegal way during the use of the Platform;
    - Violate applicable securities and cryptoasset laws during the course of your use of the Platform.
  • You acknowledge and agree that we may withhold your wallet balance or payments due to you where we find that you have made such monies while breaching our acceptable use policy or this terms of use. You further acknowledge and agree that we may make necessary deductions from your account to enforce this provision.
  • In addition to the above, you acknowledge and agree that we may cancel, block or terminate your access to the Platform or our services, as well as our agreement with you on account of such breach. Please note that while we may provide notice of such termination to you, we are not obligated to provide such notice subject to the provisions of applicable laws and regulations.

Advertising and Publicity

  • By using our Services and accepting these Terms of Use, you acknowledge and agree that we may use your logo and brand materials for advertising and publicity purposes. Where we would require that, we will seek your written consent before such publication or advertisement is made.
  • If you are using our Services for cryptoasset payments and collections purposes, you acknowledge and agree to disclose publicity materials at the place of collection to ensure that customers are aware that we are facilitating the payments being collected.

Intellectual Property

  • By using our Platform and generating content on it, you retain your intellectual property rights to such creation. However, you acknowledge and agree to grant DeeX a global, non-exclusive, non-revocable, sublicensable, transferable, and royalty-free licence to make use of such intellectual property for the operation, improvement, development, and marketing of DeeX services.
  • Nothing in these terms of use shall constitute a license to use, distribute, modify, or transfer intellectual property rights of DeeX including but not limited to the rights to our trademarks, logos, brand materials, publications, and other creative materials that would otherwise by applicable laws qualify as intellectual property.

Electronic Service Disclaimer

  • Please note that our services and Platform are provided on an “as is” and “as available” basis. While we will exert our best efforts to provide a seamless service to you, we do not warrant that our Services and Platform will be uninterrupted or error-free.
  • While we strive towards the perfection of publications on our Platform, we do not make any warranty nor guarantee the accuracy of any such publication. From time to time, we may also make changes to such publications or alter documentation on our Platform with or without notice to you. Accordingly, we encourage you to verify all information posted on our Platform before proceeding to rely on them.
  • We may experience occasional delays or interruptions which are outside of our control and DeeX will not be liable for any loss you incur by reason of such delays or interruptions. While we will do our best to ensure that our Platform is safe and secure from viruses and intrusions, we can not guarantee that there won’t be attacks, especially with the range of bad actors in the modern digital financial ecosystem.

Representations and Warranties

  • By using this Platform, you represent and warrant that;
    - You are 18 years and above by age;
    - You have consulted with a competent financial advisor on your risk tolerance and the competent advisor has advised that you should proceed with trading or dealing in cryptoassets;
    - You are not engaged in fraudulent or illegal activity neither do you intend to use this Platform for such purpose;
    - You shall not submit a transaction you know to be fraudulent, illegal, or restricted for authorisation;
    - As a merchant, you shall conduct the appropriate due diligence on your customers in accordance with relevant anti-financial crimes laws;
    - You shall cooperate with us on any investigation conducted on your account when we make any requests;
    - You shall use our Platform in good faith and in accordance with these terms of use and applicable laws;
    - As a merchant, you represent and warrant that you are duly registered and you have obtained the necessary permit, licenses or authorizations for the goods or services that you sell;
    - No element of the services on our Platform that you use constitutes a breach of existing law or intellectual property;
    - These terms of use constitute a legally binding agreement between us and you, and no provision contained here conflicts with your organisational charter or other constitutional documents;
  • Except for any warranty provided in this Terms of Use, we disclaim all warranties of any kind, express or implied, arising out of or related to these terms of use, including without limitation, any warranty of merchantability, fitness for purposes, non-infringement or implied warranties for dealing or performance.

Indemnity

You acknowledge and agree to indemnify DeeX and hold us harmless from and against any loss, damage, or liability that you or any third party may incur with respect to your negligent act or omission, violation of any applicable law, or in connection with any third party claims against you or your business.

Limitation of Liability

  • Except where directly attributable to our negligent acts or omissions, we will not bear liability for any damages, claims, costs, expenses, or losses whatsoever which may be suffered by you or your customers. This exception shall only apply where such damage was caused by acts or omissions which could have been reasonably avoided by DeeX
  • DeeX will not be liable for the actions or inactions of any third party not acting on its instructions; neither will DeeX be liable for the actions or inactions not directly traceable to it.
  • Notwithstanding anything contained in this Terms of Use, we shall be liable to you for any special, consequential, incidental, or similar damages, or damages for loss of use, profits, data, or other intangibles, or the cost of procurement of substitute goods and services, arising out of or related to the use, resale, inability to use, unauthorised use, pursuant to this Terms of Use whether such damages arise in contract, delict, under the statute, at law or any other cause without limitation and whether this Terms of Use is canceled or not.
  • You agree that no liability shall be raised against DeeX more than two (2) years after the accrual of the cause of such liability. You further agree that the limitations on liability, expressed in this Agreement, shall inure to the benefit of and apply to all subsidiaries and affiliates of DeeX.
  • We will not be responsible in the event of any infiltration of our security systems, provided that we have used commercially reasonable efforts based on industry standards to prevent any such infiltration. You acknowledge and agree that you, are responsible for the security of transaction data or any other information stored on your device.

Dispute Resolution

  • These terms of use and our agreement with you shall be governed by the Laws of the Federal Republic of Nigeria.
  • Where there is any dispute in relation to these terms of use, you acknowledge and agree that such dispute shall be resolved amicably in the first instance through electronic dispute resolution measures. You agree to refer such disputes first to a mediator whose terms of settlement shall be reduced into writing and enforced as a consent judgment of a competent court in Nigeria.
  • You further agree that where mediation fails, the dispute may be referred to a court of competent jurisdiction in Nigeria.

Termination

  • Where you are using the Platform for payment and collection services as a merchant, either of us may terminate this terms of use by providing a notice of termination of at least thirty days to the other party. This does not affect our right to terminate our service to you if we identify any fraudulent activity or activity inconsistent with our acceptable use policy on your account with us. In such a case, the notice requirement will not apply.
  • Upon termination of these terms of use, the balance of your wallet shall be forwarded to an account or wallet of your choice less the costs of our services. This is subject to other provisions of this terms of use, our acceptable use policy, and laws in force in Nigeria.
  • You acknowledge and agree that we may, without notice, set off any debts and liabilities owed to us with any monies or cryptoassets due to you from us. We may also defer settlement for payment where we find it necessary to protect our ability to recover fees or debts you owe to us.

No Variation

  • Where there is any need to vary the terms of this terms of use, we may make such variations and update the header. Where a fundamental change is made, we will provide notice to you in accordance with clause 2 of these terms of use.
  • Where you require that any term of this terms of use be varied for your specific use case, you may reach us via support@deexoptions.com and we will respond to such requests. However, no variation of the terms of use under this clause shall be valid unless it is signed by our representatives and you.

Waiver

Our failure or delay to exercise any of our rights under these terms of use shall not imply that we have waived such rights.

Assignment

You acknowledge and agree that while we may subcontract or delegate the performance of any part of these terms of use, you shall not assign your responsibilities, rights or benefits to another person without our prior consent obtained in writing.

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