User Agreement
SAFEX Global Users:
SAFEX is a platform that provides blockchain-related services (hereinafter referred to as "the Service" or "Services"), registered and operated in Hong Kong according to the relevant laws of Hong Kong. The website operated by the company is https://www.safex.hk (hereinafter referred to as "this Website" or "the Website"). For the convenience of this agreement, the company and the website are collectively referred to as "we" or other first-person pronouns in this agreement. Any natural person or other entity that logs onto this website is a user of this website, and for the convenience of this agreement, they are referred to as "you" or other second-person pronouns. For the convenience of this agreement, both we and you are collectively referred to as "the Parties" in this agreement, and either we or you are referred to as "one Party". All content on this website, for the convenience of users, may be provided in multiple language versions; in case of any conflict or omission, the Chinese content shall prevail.
Important Notice: We hereby specifically remind you:
Digital assets themselves are not issued by any financial institution, company, or this website;
The digital asset market is new, unconfirmed, and may not grow;
Digital assets carry extremely high risks;
Digital asset transactions may be suspended or prohibited at any time due to the enactment or amendment of laws, regulations, and normative documents in various countries. Digital assets carry extremely high risks and are not suitable for the vast majority of people. You understand and comprehend the risks that may be involved in this behavior, so you should decide on your actions based on the extent of loss you can afford. In addition, in addition to the risks mentioned above, there will be unpredictable risks. You should carefully consider and evaluate your own situation and the above risks before making a decision and bear all the losses arising therefrom, for which we do not assume any responsibility.
Kindly Note:
You understand that this website is only a venue for you to obtain digital asset information, find transaction parties, negotiate digital asset transactions, and conduct transactions. You understand that this website is only a platform for you to obtain digital asset information and find transaction parties. This website does not participate in any of your transactions, so you should carefully judge the authenticity, legality, and validity of relevant information and bear the responsibility and loss arising therefrom.
This website does not provide any investment advice, please carefully judge and make reasonable decisions.
If this website determines that you have violated this agreement, or according to the laws of your jurisdiction, determines that your use of the services provided by this website is illegal, this website has the right to suspend or terminate the service for you at any time.
https://www.safex.hk is the official information release platform of this website;
It is prohibited to use this website for illegal transaction activities such as money laundering, smuggling, commercial bribery, etc. If such events are discovered, this site will take various available measures, including but not limited to freezing accounts, notifying relevant authorities, etc. We do not bear any responsibility for the consequences arising from this and reserve the right to hold relevant persons accountable.
It is prohibited to use this website for unethical trading activities such as malicious market manipulation and unfair trading. If such events are discovered, this website will take preventive protective measures such as warnings, restricting trading, and closing accounts for all unethical behaviors such as malicious price manipulation and maliciously affecting the trading system. We do not bear any responsibility for the consequences arising from this and reserve the right to hold relevant persons accountable.
I. General Provisions
1.1 The "User Agreement" (hereinafter referred to as "this Agreement" or "these Terms and Conditions") consists of the main text, the "Privacy Policy", the "User Anti-Money Laundering Regulations", and various rules, declarations, and explanations that have been or may be published by this website in the future. 1.2 Before using the various services provided by this website, you should carefully read this Agreement. If you have any questions or other necessary inquiries, please consult a professional lawyer. If you do not agree with this agreement and/or any modifications to it from time to time, please immediately stop using the services provided by this website or no longer log in to this website. Once you log in to this website, use any service of this website, or any other similar actions, it means that you have understood and fully agreed to the content of this agreement, including any modifications made by this website to this agreement at any time. 1.3 By filling in relevant information according to the requirements of this website and successfully registering through other related procedures, you can become a user of this website. Clicking the "Agree" button during the registration process means that you have reached an agreement with the company in the form of an electronic signature; or when you click any button marked "Agree" or similar meaning during the use of this website, or actually use the services provided by this website in other ways allowed by this website, it means that you fully understand, agree, and accept all the terms under this agreement, and your handwritten signature is not necessary for this agreement to be legally binding on you. 1.4 After becoming a user of this website, you will obtain a user account and corresponding password, which are the responsibility of the user to keep; users shall be legally responsible for all activities and events conducted with their user account. 1.5 Only registered users of this website can use the digital asset trading platform provided by this website for trading and enjoy other services specified by this website that are only available to users. 1.6 By registering and using any services and functions provided by this website, you will be deemed to have read, understood, and: 1.6.1 Accepted all terms and conditions of this agreement. 1.6.2 Confirmed that you have reached the age of 18 or the legal age for entering into contracts as stipulated by different applicable laws, and the actions you take to accept the services of this website such as registration, sale or purchase, posting information, etc., should comply with the relevant laws and regulations of the sovereign country or region that has jurisdiction over you, and you have full capacity to accept these terms and conduct digital asset transactions on this website. 1.6.3 Guaranteed that the digital assets involved in the transaction belong to you and are legally obtained. 1.6.4 Agreed that you are solely responsible for your trading or non-trading actions and any profits or losses. 1.6.5 Confirmed that the information provided during registration is true and accurate. 1.6.6 Agreed to comply with any relevant legal provisions, including reporting any transaction profits for tax purposes. 1.6.7 Agreed not to engage in or participate in any activities or actions that damage the interests of this website or the company at any time, whether related to the services provided by this website or not. 1.6.8 This agreement only binds the rights and obligations between you and us, and does not involve legal relations and legal disputes between users of this website and other websites and you due to digital asset transactions.
II. Agreement Revision
We reserve the right to revise this agreement from time to time and announce it through the website without further notice to you. The revised agreement will be marked with the change time on the homepage of this agreement, and once published on the website, it will take effect immediately. You should periodically browse and pay attention to the update change time and update content of this agreement. If you do not agree with the related changes, you should immediately stop using the services of this website; your continued use of the services of this website means that you accept and agree to be bound by the revised agreement.
III. Registration
3.1 Registration Qualification You confirm and promise that when you complete the registration process or actually use the services provided by this website in other ways permitted by this website, you should be a natural person with the capacity to sign this agreement and use the services of this website as stipulated by applicable laws. Once you click the agree registration button, it means that you have agreed to the content of this agreement. If you do not have the aforementioned qualifications, you shall bear all the consequences arising therefrom, and the website reserves the right to cancel or permanently freeze your account and hold you accountable. At the same time, your access and use of the services of this website indicate that you declare and guarantee that you are not listed in the FATF (Financial Action Task Force) list, the OFAC (Office of Foreign Assets Control of the U.S. Treasury) list of "Specially Designated Nationals," or any trade or economic sanctions list (such as the United Nations Security Council sanctions list). We reserve the right to choose the markets and jurisdictions in which we operate and may decide to restrict or refuse to provide services in certain countries.
3.2 Registration Purpose You confirm and promise that your registration on this website is not for the purpose of violating laws and regulations or disrupting the order of digital asset transactions on this website.
3.3 Registration Process 3.3.1 You agree to provide valid email addresses, mobile phone numbers, and other information as required on the user registration page of this website. You can use the email, mobile phone number, or other login methods provided or confirmed by you or allowed by this website to enter this website. If necessary, according to the provisions of different jurisdictions, you must provide your real name, identity documents, and other relevant information required by laws, regulations, privacy terms, and anti-money laundering terms, and continuously update the registration information to meet the requirements of being timely, detailed, and accurate. All original input data will be referred to as registration information. You are responsible for the authenticity, completeness, and accuracy of such information and shall bear any direct or indirect losses and adverse consequences arising therefrom. 3.3.2 If the laws, regulations, rules, orders, and other norms of your sovereign country or region require real-name registration for mobile phone numbers, you agree to provide a mobile phone number that has been registered in real name. If you do not provide it as required, you shall bear any direct or indirect losses and adverse consequences arising therefrom. 3.3.3 You have the right to obtain a SAFEX account and password if you legally, completely, and effectively provide the information required for registration and pass verification. You are considered successfully registered and can log in as a user on this website when you obtain the SAFEX account and password. 3.3.4 You agree to receive electronic emails and/or short messages related to the management and operation of this website sent by this website.
IV. Contract Trading Rules
4.1 General Rules 4.1.1 These rules are formulated to regulate cryptocurrency contract trading behavior, maintain market order, and protect the legitimate rights and interests of investors based on the principles of fairness, openness, and justice. 4.1.2 These rules are the benchmark basis for SAFEX contract trading business, including investors' trading and other related operations in the contract. 4.1.3 These rules apply to contract trading on SAFEX. If not specified in these rules, SAFEX "User Agreement" and other relevant provisions of SAFEX shall prevail.
4.2 Risk Control 4.2.1 Users should pay attention to contract trading risks and adjust their position ratio and margin in time to avoid risks. Severe price fluctuations may lead to the forced liquidation of your entire margin balance. SAFEX is not responsible for any losses that may arise from the use of contracts. 4.2.2 SAFEX has the right to monitor the risk rate of users' accounts in real-time. 4.2.3 SAFEX has the right to take corresponding measures according to changes in the risk rate, including but not limited to: introducing trading permission restrictions, such as "only reduce positions"; dynamically adjusting risk control parameters according to market risk rates; and taking actions such as prohibiting transfers, prohibiting trading, and forced liquidation for some high-risk users.
4.3 Triggering "Only Reduce Positions" Risk Control 4.3.1 Risk Control Trigger Conditions: When a user's position in U-based contracts is too large and close to liquidation, the system will automatically set the trading permission for that contract to "only reduce positions" and inform the user by email. 4.3.2 How to Lift Risk Control: When any of the following conditions are met, the system will automatically lift the trading permission restriction on that contract within 10 minutes: 4.3.2.1 When your position in the contract restrictedto "only reduce positions" is reduced by 30%; 4.3.2.2 When additional margin is added so that the margin ratio is reduced to 50%; 4.3.2.3 When the liquidation price is more than 20% away from the current mark price.
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