Effective: July 13, 2023
Welcome to Exponential. Exponential DeFi Inc. doing business as Exponential (“Exponential,” “we”, “us”, or “our”) owns and operates the website located at exponential.fi (the “Website” and collectively with any connected software, mobile application or other products the “Site”).
By accessing or using the Exponential Service (the "Service") made available through our Site, you agree to be bound by these terms of service ("Terms"). You agree to use the Site and the Service in compliance with all applicable law. Your access to and use of the Service is conditioned on your acceptance of and compliance with these Terms. These Terms apply to all visitors, users and others who access or use the Service. If you do not agree to be bound by these Terms of Service, do not access or use the Service. Your access to and use of the Service is also conditioned on your acceptance of and compliance with our Privacy Policy.
Exponential DeFi Trading LLC (“Exponential Trading”), a wholly-owned subsidiary of Exponential, is registered with the U.S. Department of Treasury Financial Crimes Enforcement Network (“FinCEN”) as a money services business (“MSB”). As a registered MSB, Exponential Trading is subject to the Bank Secrecy Act and its implementing regulations which set out the requirements imposed upon financial institutions to implement policies and procedures reasonably designed to detect and prevent money laundering and terrorist financing. Your access to and use of the Site for purchase and sale of digital assets is subject to compliance with Exponential Trading's AML/CTF Compliance Program.
The services outlined in these terms are provided in the United States. If you do not reside in the United States, you agree that you have sought out Exponential and Exponential Trading to provide you with the services outlined in these terms and that such services are being provided to you outside your jurisdiction of residence.
WE ARE NOT RESPONSIBLE FOR ANY LOSSES, OTHER HARM OR LIABILITIES INCURRED AS A RESULT OF USING OUR SERVICE. YOU ACCEPT ALL LIABILITY RESULTING FROM YOUR INVESTMENT DECISIONS. ALL INVESTMENTS ENTAIL A RISK OF LOSS AND YOU MAY LOSE MONEY.
You acknowledge and agree that your access and use of the information provided by Exponential and on the Site is for educational purposes only and that nothing contained herein constitutes an offer or solicitation to buy or sell any financial products, including the sale of DeFi digital assets via the Site. Neither Exponential nor any of its affiliates acts as your broker. It does not constitute any form of advice or recommendation to buy or sell any assets or adopt any strategy mentioned. It is intended only to provide observations and views of the author(s) at the time of writing, both of which are subject to change at any time without prior notice. The information provided does not have regard to the specific objectives or particular needs of any specific person who may read it, and you should determine for yourself whether a particular service or product is suitable for your needs or whether you should seek professional advice for your particular situation. Neither Exponential nor its affiliates provide any tax advice. You are responsible for paying all taxes associated with the digital assets you purchase and sell via the Site.
Any reference to a particular company, blockchain, protocol, asset or pool is not an endorsement by Exponential of that company, blockchain, protocol, asset or pool or a recommendation by Exponential to purchase or sell such pool or asset.
The Service is not directed to any person in any jurisdiction where (by reason of that person's nationality, residence or otherwise) the publication or availability of the Service is prohibited. Persons in respect of whom such prohibitions apply must not access the Service.
We may in the future permit you to connect your account with Exponential to other products and services offered by other third parties. Such services will be subject to the terms and conditions governing such service and Exponential makes no representations or warranties with respect to such products and services. No inference should be made regarding the capabilities of such products and services on the basis that Exponential has permitted to connect your account.
IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT
To help the government fight the funding of terrorism and money laundering activities, Federal law requires financial institutions to obtain, verify, and record information that identifies each individual or entity that opens an account. What this means for you: when you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver's license or other identifying documents.
During account opening, or at any other time deemed necessary by Exponential, you agree to provide us with the information we request for the purposes of identity verification and compliance with the law and permit us to keep a record of such information. You consent to us accessing, processing and retaining any personal information you provide to us for these purposes. You can withdraw your consent at any time by closing your account with us. However, we may retain and continue to process your personal information if we reasonably believe it is necessary in order to comply with laws or regulations. In providing us with this or any other information that may be required, you confirm that the information is accurate and authentic. You agree to keep us updated if any of the information you provide changes. You authorize us to make inquiries and disclosures, whether 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 action we reasonably deem necessary based on the results of such inquiries. When we carry out these inquiries, 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. This is an identity check only and should have no adverse effect on your credit rating. We reserve the right at all times to monitor, review, retain and/or disclose any information as necessary to satisfy any applicable law, regulation, sanctions programs, legal process or governmental request. Further, you authorize your wireless carrier to use or disclose information about your account and your wireless device, if available, to Exponential or its service provider, solely to help them identify you or your wireless device and to prevent fraud.
GENERAL
If you are a US accredited investor, you may purchase and sell certain digital assets via the Site. Eligibility and minimums and maximums for such purchases and sales can be found here. Neither Exponential nor any of its affiliates or subsidiaries acts as your broker.
RISK DISCLOSURE
As with any asset, the value of digital assets can increase or decrease and there can be a substantial risk that you lose money buying, selling, holding, or investing in digital assets. There is no guarantee of any return on any such assets, regardless of whether any such asset has a yield generation component. Digital assets are complex, are subject to decentralized governance, and can be locked from purchase, sale or transfer for extended periods of time. You should consult your financial advisor, legal or tax professional regarding your specific situation and financial condition and carefully consider whether trading or holding digital assets is suitable for you.
DIGITAL ASSET PURCHASES AND SALES AVAILABLE ON THE SITE ARE CURRENTLY IN BETA FORM. AS SUCH, THIS AVAILABILITY MAY BE MODIFIED OR DOWNGRADED WITHOUT NOTICE.
Access to digital asset sales and purchase may become degraded or unavailable during times of significant volatility or volume. This could result in significant support response time delays. Although we strive to provide you with excellent service, we do not represent that the Site or these purchase and sale services will be available without interruption and we do not guarantee that any order will be executed, accepted, recorded, or remain open. Exponential is not liable for any losses resulting from or arising out of delays in processing transactions, inability to execute transactions, or lack of timely response from Exponential customer support.
ACCOUNT
If you elect to make any digital asset purchases on the Site, you must first fund a digital asset wallet with assets supported by Exponential (here; supported assets are also available for review within the Funds Wallet screen prior to funding) required for purchase (“Funds Wallet”). You are solely responsible for executing these transactions properly. Do not attempt to use the Funds Wallet to store, send, request, or receive any assets other than assets supported by Exponential. If you do so these funds may be lost and irretrievable. Exponential is not responsible in connection with any attempt to use your Funds Wallet with any other asset. You acknowledge and agree that Exponential is not liable for any other assets sent to your Funds Wallet. You may be given the option to onboard funds either via sending funds yourself to your Funds Wallet or through a third party Service Partner (see “Service Partners” above). Exponential provides the Funds Wallet to you under these Terms. Exponential does not act as your fiduciary with respect to the Funds Wallet. You hold title to the Funds Wallet and the digital assets held in this wallet, and have full control over the Funds Wallet. Exponential has no right to do anything with these assets without your direction, including hypothecating these assets or lending any of these assets. Subject to our and your compliance with law, via the Site you may direct Exponential to send these digital assets at any time to any digital asset wallet address or otherwise sell your digital assets.
When you purchase digital assets from Exponential Trading via the Site, Exponential establishes a digital asset account in your name to hold such assets (“Asset Account”). Exponential provides the Asset Account to you under these Terms. Neither Exponential nor Exponential Trading act as your fiduciary with respect to the Asset Account. Neither Exponential nor Exponential Trading has the right to do anything with these assets without your direction, including hypothecating these assets or lending any of these assets. You hold title to the Asset Account and the digital assets held in the Asset Account, and have full control over the Asset Account. Subject to our and your compliance with law, via the Site you may direct Exponential to send these digital assets at any time to any compatible digital asset wallet address by emailing [email protected] or otherwise sell your digital assets in the Site. You assume all risk of loss of any such sends and sales. You will be able to see your Funds Wallet and Asset Account balances using the Site. You can also see your transaction history using the Site.
ORDERS
When you purchase and sell digital assets via the Site you are purchasing from and selling to Exponential Trading. Exponential Trading sells and purchases these assets for its own account, acting as principal, and neither Exponential Trading nor Exponential acts as your broker or exchange with respect to such purchase or sale. The fees applicable to such purchases and sales can be found here. You will receive a receipt and confirmation of each such purchase or sale via the email registered to your account and viewable in your account on the Site. This receipt will include a scheduled processing timeline. Purchase and sale orders are processed within this processing timeline and you agree to pay or sell (as applicable) the price at Processing (as such status is indicated in your account on the Site). You understand that digital assets are highly volatile and the price when your order is executed will be different from the price when your order was placed. The status of your order is viewable at any time from your account on the Site (“Open”, “Processing”, and “Complete”). You may cancel your order at any time without cost prior to Processing. After Processing, but prior to being Complete, you may ask to cancel your order by sending a request to [email protected]. We will use reasonable efforts to cancel your order if it has not yet been Completed. If we are successful in canceling your order, your order will be canceled for a fee equal to 20% of your order amount. After it is Complete, your purchase or sale cannot be canceled or reversed.
Exponential and Exponential Trading reserve the right to refuse to process, or to cancel, correct, clawback, or reverse, any purchase, sale or transfer, in our sole discretion, even after funds have been debited from your account(s), in response to a subpoena, court order, or other government order; or if we suspect the transaction may: involve money laundering, terrorist financing, fraud, or any other type of financial crime; be erroneous or relate to a Prohibited Activity as set forth below. In such instances, we will reverse the transaction and we are under no obligation to reinstate a purchase or sale order at the same price or on the same terms as the canceled transaction.
NO WARRANTY OR GUARANTEE
Exponential Trading makes no warranty or guarantee regarding any digital asset it sells. Neither Exponential nor Exponential Trading own or control the underlying software protocols which govern the operation of these digital assets. Generally, the underlying protocols are open source, and anyone can use, copy, modify, and distribute them. Neither Exponential nor Exponential Trading assume any responsibility for the operation of the underlying protocols and do not guarantee the functionality or security of network operations. When you purchase a digital asset from Exponential Trading you assume all risk of loss of such digital asset, including the operation of the underlying protocol and/or blockchain on which the digital asset operates and any third party actions taken on, against, or associated with such protocol and/or blockchain.
TRANSFERS
When you send digital assets from your Funds Wallet and the Asset Account to an external wallet, such transfers are executed at your instruction by Exponential. You should verify all transaction information prior to submitting instructions. We recommend that you send a small amount of digital assets as a test prior to sending a significant amount of digital assets. Once a transaction has been submitted by us per your instruction to the applicable digital asset network, it is irreversible and indicated as “Processing” in your account. While in an “Processing” state the transaction must be confirmed by the applicable digital asset network before the transferred asset is available for your use. Neither Exponential nor Exponential Trading bear any liability or responsibility in the event you enter incorrect destination information or if you send your digital assets to an incompatible wallet.
You will receive a receipt and confirmation of each transfer via the email registered to your account and viewable in your account on the Site. This receipt will include a scheduled processing timeline. Transfers are processed within this processing timeline. The status of your transfer is viewable at any time from your account on the Site (“Open”, “Processing”, and “Complete”). You may cancel your transfer at any time prior to Processing. After it is Processing, your transfer cannot be canceled or reversed.
Data privacy, data protection and security are of primary importance to Exponential. You acknowledge that we may process personal data in relation to you, and personal data that you have provided or in the future provide to us, in connection with this Agreement, or the Services. Accordingly, you represent and warrant that: (i) your disclosure to us of any personal data is accurate, up to date and relevant when disclosed; (ii) before providing any such personal data to us, you have read and understood our Privacy Policy; and (iii) if from time to time we provide you with a replacement version of the Privacy Policy, you will promptly read that notice. If you suspect that your Exponential account or any of your security details have been compromised or if you become aware of any fraud or attempted fraud or any other security incident (including a cyber-security attack) affecting you and/or Exponential (collectively a "Security Breach"), you must notify Exponential support immediately at https://help.exponential.fi or by emailing support@exponential.fi and provide accurate and up to date information throughout the duration of the Security Breach. You must take any steps that we reasonably require to reduce or manage any Security Breach. Prompt reporting of a Security Breach does not guarantee that Exponential will reimburse you for any losses suffered or be liable to you for any losses suffered as a result of the Security Breach. Regardless of any such reporting, Exponential has no responsibility or liability for any Security Breach that occurs through no fault of Exponential. We shall not bear any liability, whatsoever, for any damage or interruptions caused by any computer viruses or other malicious code that may affect your computer or other equipment, or any phishing, spoofing or other attack. We advise the regular use of a reputable and readily available virus screening and prevention software. You should also be aware that SMS and email services are vulnerable to spoofing and phishing attacks and should use care in reviewing messages purporting to originate from Exponential. Always log into your Exponential account(s) through the Site to review any transactions or required actions if you have any uncertainty regarding the authenticity of any communication or notice.
Any promotions made available through the Service may be governed by rules that are separate from these Terms.
If you participate in any promotions, please review the applicable rules as well as our Privacy Policy. If the rules for a promotion conflict with these Terms, the promotion rules will apply.
You represent that you are over the age of 18. The Company does not permit those under 18 to use the Service.
When you create an account with us, you must provide us information that is accurate, complete, and current at all times. Failure to do so constitutes a breach of the Terms, which may result in immediate termination of your account on our Service.
You are responsible for safeguarding the password that you use to access the Service and for any activities or actions under your password, whether your password is with our Service or a third-party social media service.
You agree not to disclose your password to any third party. You must notify us immediately upon becoming aware of any breach of security or unauthorized use of your account.
You may not use as a username the name of another person or entity or that is not lawfully available for use, a name or trademark that is subject to any rights of another person or entity other than you without appropriate authorization.
Violation of these Terms of Service may, in Exponential's sole discretion, result in termination, suspension, or restriction of your Exponential account. If you violate the letter or spirit of these Terms of Service, or otherwise create risk or possible legal exposure for Exponential, or if Exponential determines there are legal or security risks independent of any of your actions or omissions, we can stop providing all or part of the Service to you, either on a temporary or permanent basis.
We respect the intellectual property rights of others. It is our policy to respond to any claim that content posted on the Service infringes a copyright or other intellectual property infringement of any person.
If you are a copyright owner, or authorized on behalf of one, and you believe that the copyrighted work has been copied in a way that constitutes copyright infringement that is taking place through the Service, you must submit Your notice in writing to the attention of our copyright agent via email at support@exponential.fi and include in your notice a detailed description of the alleged infringement.
You may be held accountable for damages (including costs and attorneys' fees) for misrepresenting that any content is infringing your copyright.
You may submit a notification pursuant to the Digital Millennium Copyright Act (DMCA) by providing our Copyright Agent with the following information in writing (see 17 U.S.C 512(c)(3) for further detail):
You can contact our copyright agent via email at support@exponential.fi. Upon receipt of a notification, the Company will take whatever action, in its sole discretion, it deems appropriate, including removal of the challenged content from the Service.
As between Exponential and you, Exponential is the sole and exclusive owner of all right, title and interest in and to the Site and its content, features and functionality (including, without limitation, all information, software, text, displays, images, video, audio, design, selection, arrangement and look and feel), other Content, and all intellectual property rights therein, and any suggestions, ideas or other feedback provided by you. You are not permitted to reproduce, publish, distribute, modify, create derivative works of, publicly display, publicly perform, republish, download, store, transmit, sell or participate in any sale of, or exploit in any way, in whole or in part, any of the material on our Site except as generally and ordinarily permitted through the Site according to these Terms of Service. Any copy, modification, revision, enhancement, adaptation, translation, or derivative work of the Site or Content shall be owned solely and exclusively by Exponential or its licensors, including all intellectual property rights therein. You may not access or use for any commercial purposes any part of the Site or Content.
You may publish Content on your website, blog posts, twitter or other forums as long as you add clear attribution to Exponential and a link back to exponential.fi.
The Service and its original content (excluding content provided by you or other users), features and functionality are and will remain the exclusive property of the Company and its licensors.
The Service is protected by copyright, trademark, and other laws of both the Country and foreign countries.
Our trademarks and trade dress may not be used in connection with any product or service without the prior written consent of the Company.
You assign all rights, title and interest in any Feedback you provide the Company. If for any reason such assignment is ineffective, you agree to grant the Company a non-exclusive, perpetual, irrevocable, royalty free, worldwide right and license to use, reproduce, disclose, sub-license, distribute, modify and exploit such Feedback without restriction.
Our Service contains links to third-party websites or services that are not owned or controlled by the Company.
The Company has no control over, and assumes no responsibility for, the content, privacy policies, or practices of any third party web sites or services. You further acknowledge and agree that the Company shall not be responsible or liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any such content, goods or services available on or through any such websites or services.
We strongly advise you to read the Terms of Service and Privacy Policies of any third-party web sites or services that you visit.
We may terminate or suspend your Account immediately, without prior notice or liability, for any reason whatsoever, including without limitation if you breach these Terms of Service.
Upon termination, your right to use the Service will cease immediately. If you wish to terminate your Account, you may simply discontinue using the Service.
Notwithstanding any damages that you might incur, the entire liability of the Company and any of its suppliers under any provision of this Terms and your exclusive remedy for all of the foregoing shall be limited to the amount actually paid by you through the Service or $100 if you haven't purchased anything through the Service.
To the maximum extent permitted by applicable law, in no event shall the Company or its suppliers be liable for any special, incidental, indirect, or consequential damages whatsoever (including, but not limited to, damages for loss of profits, loss of data or other information, for business interruption, for personal injury, loss of privacy arising out of or in any way related to the use of or inability to use the Service, third-party software and/or third-party hardware used with the Service, or otherwise in connection with any provision of this Terms), even if the Company or any supplier has been advised of the possibility of such damages and even if the remedy fails of its essential purpose.
Some states do not allow the exclusion of implied warranties or limitation of liability for incidental or consequential damages, which means that some of the above limitations may not apply. In these states, each party's liability will be limited to the greatest extent permitted by law.
The Service is provided to you "AS IS" and "AS AVAILABLE" and with all faults and defects without warranty of any kind. To the maximum extent permitted under applicable law, the Company, on its own behalf and on behalf of its affiliates and its and their respective licensors and service providers, expressly disclaims all warranties, whether express, implied, statutory or otherwise, with respect to the Service, including all implied warranties of merchantability, fitness for a particular purpose, title and non-infringement, and warranties that may arise out of course of dealing, course of performance, usage or trade practice. Without limitation to the foregoing, the Company provides no warranty or undertaking, and makes no representation of any kind that the Service will meet Your requirements, achieve any intended results, be compatible or work with any other software, applications, systems or services, operate without interruption, meet any performance or reliability standards or be error free or that any errors or defects can or will be corrected.
Without limiting the foregoing, neither the Company nor any of the company's provider makes any representation or warranty of any kind, express or implied: (i) as to the operation or availability of the Service, or the information, content, and materials or products included thereon; (ii) that the Service will be uninterrupted or error-free; (iii) as to the accuracy, reliability, or currency of any information or content provided through the Service; or (iv) that the Service, its servers, the content, or e-mails sent from or on behalf of the Company are free of viruses, scripts, trojan horses, worms, malware, timebombs or other harmful components.
Some jurisdictions do not allow the exclusion of certain types of warranties or limitations on applicable statutory rights of a consumer, so some or all of the above exclusions and limitations may not apply to You. But in such a case the exclusions and limitations set forth in this section shall be applied to the greatest extent enforceable under applicable law.
These Terms of Service are governed by and construed in accordance with the laws of the State of California, without regard to its conflict of laws rules.
By agreeing to these Terms of Service you agree to indemnify, defend and hold harmless Exponential, our managing members, shareholders, employees, affiliates, licensors and suppliers (the "Exponential Parties") from and against any and all complaints, charges, claims, damages, losses, costs, liabilities, and expenses (including attorneys' fees) due to, arising out of, or relating in any way to (i) your misuse of the Content, the Site, or the Service; (ii) your violation of these Terms of Service; or (iii) your violation of the rights of another.
If you have feedback, or general questions, contact us via our support webpage at https://help.exponential.fi. If you have any concern or dispute about the Service, you agree to first try to resolve the dispute informally by contacting the Company.
In the event of a dispute arising under or relating to these Terms or the Service or any other products or services provided by us (each, a “Dispute”), either party may elect to finally and exclusively resolve the dispute by binding arbitration governed by the Federal Arbitration Act (“FAA”). Any election to arbitrate, at any time, shall be final and binding on the other party. IF EITHER PARTY CHOOSES ARBITRATION, NEITHER PARTY SHALL HAVE THE RIGHT TO LITIGATE SUCH CLAIM IN COURT OR TO HAVE A JURY TRIAL. ARBITRATION IS DIFFERENT FROM COURT, AND DISCOVERY AND APPEAL RIGHTS MAY ALSO BE LIMITED IN ARBITRATION.
All disputes will be resolved before a neutral arbitrator, whose decision will be final except for a limited right of appeal under the FAA. The arbitration shall be commenced and conducted by the Judicial Arbitration and Mediation Services (“JAMS”) pursuant to its then current Comprehensive Arbitration Rules and Procedures and in accordance with the Expedited Procedures in those rules, or, where appropriate, pursuant to JAMS' Streamlined Arbitration Rules and Procedures. All applicable JAMS' rules and procedures are available at the JAMS website http://www.jamsadr.com. Each party will be responsible for paying any JAMS filing, administrative and arbitrator fees in accordance with JAMS rules. Judgment on the arbitrator's award may be entered in any court having jurisdiction. This clause shall not preclude parties from seeking provisional remedies in aid of arbitration from a court of appropriate jurisdiction. The arbitration may be conducted in person, through the submission of documents, by phone, or online. If conducted in person, the arbitration shall take place in the United States county where you reside. The parties may litigate in court to compel arbitration, to stay a proceeding pending arbitration, or to confirm, modify, vacate or enter judgment on the award entered by the arbitrator. The parties shall cooperate in good faith in the voluntary and informal exchange of all non-privileged documents and other information (including electronically stored information) relevant to the Dispute immediately after commencement of the arbitration. Nothing in this Agreement will prevent Exponential from seeking injunctive relief in any court of competent jurisdiction as necessary to protect Exponential's proprietary interests.
You agree that any arbitration or proceeding shall be limited to the Dispute between us and you individually. To the full extent permitted by law, (i) no arbitration or proceeding shall be joined with any other; (ii) there is no right or authority for any Dispute to be arbitrated or resolved on a class action-basis or to utilize class action procedures; and (iii) there is no right or authority for any Dispute to be brought in a purported representative capacity on behalf of the general public or any other persons. YOU AGREE THAT YOU MAY BRING CLAIMS AGAINST US ONLY IN YOUR INDIVIDUAL CAPACITY, AND NOT AS A PLAINTIFF OR CLASS CUSTOMER IN ANY PURPORTED CLASS OR REPRESENTATIVE PROCEEDING.
You represent and warrant that (i) You are not located in a country that is subject to the United States government embargo, or that has been designated by the United States government as a "terrorist supporting" country, and (ii) You are not listed on any United States government list of prohibited or restricted parties.
If any provision of these Terms is held to be unenforceable or invalid, such provision will be changed and interpreted to accomplish the objectives of such provision to the greatest extent possible under applicable law and the remaining provisions will continue in full force and effect.
Except as provided herein, the failure to exercise a right or to require performance of an obligation under these Terms shall not affect a party's ability to exercise such right or require such performance at any time thereafter nor shall the waiver of a breach constitute a waiver of any subsequent breach.
These Terms of Service may have been translated if we have made them available to you on our Service. You agree that the original English text shall prevail in the case of a dispute.
We reserve the right, at our sole discretion, to modify or replace these Terms at any time. By continuing to access or use our Service after revisions become effective, you agree to be bound by the revised terms. If you do not agree to the new terms, in whole or in part, please stop using the Site and the Service.
These Terms of Service constitute the entire agreement between you and Exponential and govern your use of the Service, superseding any prior agreements between you and Exponential.
If you have any questions about these Terms of Service, You can contact us: