Axon Terms & Conditions EU
Last revised: 7.03.2024
Axon is a currency exchange that allows you to buy and sell various assets while maintaining full custody over your digital currency wallet.
These terms of use (the "Agreement", the "Axon Agreement") govern your relationship with Axon and your use of Axon Services. You must read them carefully.
This Agreement is applicable only to customers who reside in the European Economic Area.
Please note! This Agreement contains important information about the relations between you and Axon, including a prohibited use clause and a binding arbitration clause, which could impact your rights and obligations if a dispute arises.
You are advised to take the necessary steps to fully understand those terms before accepting them.
By clicking Accept, you represent that you fully understand and agree to this Agreement and to Axon Privacy Policy.
Important! There is a significant risk associated with trading or holding digital assets as they are non-refundable and non-redeemable. The services for depositing and exchanging are instantly provided and final, no claims are valid once the transaction is finalized and the balance is updated. No profit is guaranteed and there is a high risk of losing your funds. You should consult a professional before engaging in activities involving digital assets.
1. Definitions
The following terms shall have the meaning specified here:
1.1. Axon, we – HyperCapital UAB., a company registered under the laws of Lithuania, registry code 306649190, address Vilnius, Upės g. 23-1, LT-08128
1.2. User, you – the person with whom Axon enters into an agreement
1.3. Parties – Axon and the User jointly
1.4. Axon Agreement, Agreement – the current Axon Terms of Use
1.5. Axon Interface, Interface – Axon’s website (www.axon.finance) and Axon’s mobile application, including the any application programming interfaces
1.6. Axon Account, Account – the account that you use to access Axon’s website and Axon’s application
1.7. Axon Services, Service – the services that Axon offers its user base; the term does include services offered by third parties via the Axon Interface
1.8. Fiat currency – any government-issued currency that is not backed by a physical commodity
1.9. Digital currency – digital representation of value that is only available in electronic form
1.10. Third parties – any entity which is not Axon and which offers its services via the Axon Interface
1.11. API – Axon’s application programming interface
1.12. Order – a request for a transaction under an Axon Service made via the Axon Interface
2. Legal relationship with Axon
2.1. This Agreement constitutes a binding legal contract between you and Axon.
2.2. Your legal relationship with Axon is organized on multiple levels and by multiple sources. This Agreement is only a single part of this system. Other parts are the Axon Privacy Policy, mandatory laws and regulations, and other rules imposed by Axon or by law, regarding your use of Axon Services.
3. Axon Account
In order to access the Axon Interface and use Axon Services, you need to register an Axon Account.
Axon shall have the right to refuse to open an Axon Account for you.
Axon shall also have the right to suspend or terminate your account, according to x.x. of this Agreement.
Axon bears no responsibility for losses arising out of or related to the use, authorized or unauthorized, of your Axon Account by you or by any third party.
3.1. Axon Account eligibility
By submitting an Account application, you represent that
3.1.1. You are at least the age of majority in your jurisdiction
3.1.2. You reside in a country where this Agreement is applicable and the relevant service is available
3.1.3. This is the only Axon account that you own
3.1.4. You have the full right, power, and authority to enter into and comply with this Agreement on behalf of yourself or any legal entity you claim to represent
3.1.5. You will comply fully with the relevant applicable laws and this Agreement
3.2. Account usage
The only person allowed to use an Axon Account is the User whose name this account is in.
3.3. User data
The Axon Account registration application requires you to provide personal information.
This information is subject to Axon Privacy Policy, which you can find here.
Please read it carefully. It contains important material regarding your personal information and imposes multiple obligations to you, some of which are to:
- Provide true and accurate information when required
- Update the information you have provided when changes occur
Axon collects and uses your personal information for:
- User identity verification purposes
- Obligations related to prevention of money laundering, illegal activity financing, fraud, other crimes, or to other lawful purposes imposed by laws and regulations
Axon might use third-party services for the purposes of user identity verification or to conduct investigations, when required by law, or when Axon deems necessary. This means Axon might share your personal data with third parties, such as financial crime and fraud prevention institutions.
3.4. Account protection
As a User, you are fully responsible for keeping your log-in details (e.g. username and password), physical access keys, and devices containing log-in information safe and secure.
In light of this, you hereby agree to keep at least the following measures:
- Keep all access information related to your Axon Account private:
- Log out of your Axon Account after each visit
- Notify Axon immediately of unauthorized access to your account
- Notify Axon immediately if a third party gains access to access information related to your Axon Account
3.5. Account limits
Some Axon services might be subject to a volume limit, calculated and displayed in a fiat currency. Any limits applicable to your account are visible in the Axon Interface, on the page associated with the respective service.
Most of those limits are in place to ensure legal compliance and could be lifted by undergoing a verification procedure, as described in Appendix 2 of the Agreement.
However, Axon shall have the right to impose additional limits or lift old ones at any time and based on its discretion.
4. Services available via your Axon Account
Your Axon Account gives you access to Axon Services and third-party services.
You are prohibited from using Axon Services and to access third-party services through your Axon Account in any way not expressly allowed by this Agreement.
You have the right to use Axon Services and to access third-party services through your Axon Account for personal non-commercial purposes only.
4.1. Axon Services
4.1.1. General
Axon has the right to determine which services to offer to its users.
Axon has the right to offer new services, or to modify, limit or remove already available services at its own discretion.
Axon has the right to limit any User's access to any and all of the available services, at any and all times, with or without reason, with or without notification.
More specifically, Axon has the right to include or remove any currency (digital or not) in the list of available currencies.
Axon bears no responsibility for damages related to such additions, modifications and removals.
4.1.2. Fees
Axon has the right to impose fees for Axon Services.
Axon independently determines those fees and their amount, and any modification to those fees and their amount.
Users shall receive detailed and up-to-date information about those fees via the Interface, before finalizing the use of an Axon Service.
4.2. Third-Party Services
4.2.1. General
The Axon Interface may contain third-party services integrated in the Interface via their API.
Examples are services offering crypto-to-crypto exchange transactions, loans in various currencies, and others.
The Axon Interface is simply a tool that allows you to access those services in a more convenient and user-friendly manner.
Axon has no control over those third-party services or over any transaction and/or interaction related to those third-party services (including payments for loans and credits, payments for collaterals, maintaining and transforming credit lines, or transforming interest gained from those services).
This Agreement does not apply to those services.
Axon does not offer loans or crediting of any kind, in any currency or for any purpose.
If you access and use any of those services via the Axon Interface, you do so at your own risk.
Axon bears no responsibility for damages arising out of or related to those third-party services.
4.2.2. Fees
Axon may impose fees for using those third-party services via the Axon Interface.
Axon independently determines those fees and their amount, and any modification to those fees and their amount.
Users shall receive detailed and up-to-date information about those fees via the Interface.
The presence or absence of fees shows no affiliation of Axon with third-party services offered via the Axon Interface.
The payment of a fee cannot be interpreted as Axon assuming responsibility for damages arising out of or related to third-party services.
4.2.3. Access
Furthermore, Axon does not guarantee the continuous, uninterrupted and problem-free and error-free access to and use of those services. The integration of those services in the Axon Interface is dependent upon multiple factors, most of them – outside of Axon's control.
Axon bears no responsibility for damages arising out of or related to the access to third-party services via the Axon Interface.
5. Available Axon Services
5.1. Fiat-to-crypto
You can choose a digital currency to buy from Axon in exchange for a fiat currency (e.g. EUR for Bitcoin).
Both currencies have to be present in the list of available currencies.
In order to use this Service, the User must provide details about their personal wallet (e.g. Metamask) where they wish to receive the digital currency.
To initiate the procedure, the User has to order the transfer of the selected fiat currency to Axon.
This transaction is facilitated by a third-party money transfer service (e.g. Revolut or a personal banking solution).
As soon as this transfer is finalized, Axon sends the selected digital currency to the personal wallet of the User.
If Axon does not possess the selected currency in the selected amount, Axon will initiate an automated procedure to acquire it.
During this automated procedure, Axon interacts with its subsidiaries and with third parties (e.g. decentralized exchanges), that facilitate the procedure. The procedure includes minting and/or exchanging other digital currencies that do not end up in the possession or under the control of the User.
During this automated procedure, the User does not interact with Axon subsidiaries or with third parties.
If the fiat currency transfer from the User fails for any reason, Axon is unable to provide the Service.
The fiat currency transfer will be reversed, subject to the terms and conditions, including fees, of the third-party money transfer service, selected by the User.
If the automated procedure outlined above fails for any reason, Axon is unable to provide the Service.
The fiat currency transfer will be reversed, subject to the terms and conditions, including fees, of the third-party money transfer service, selected by the User.
Axon bears no responsibility for damages arising out of or related to its failure to provide the Service for any reason.
5.2. Crypto-to-fiat
You can choose a digital currency to sell to Axon in exchange for a fiat currency (e.g. Bitcoin for EUR).
Both currencies have to be present in the list of available currencies.
In order to use this Service, the User must provide details about the fiat-currency account where they wish to receive the fiat currency.
To initiate the procedure, the User has to order the transfer of the selected digital currency to Axon.
As soon as this transfer is finalized, Axon sends the selected amount via a money transfer service to the fiat-currency account selected by the User.
If the digital currency transfer fails for any reason, Axon is unable to provide the Service.
Axon bears no responsibility for damages arising out of or related to its failure to provide the Service for any reason.
6. Proprietary Rights
Axon owns all intellectual property rights and all other rights in the Interface and its contents. Examples include software, text, images, trademarks, service marks, copyrights, patents and designs.
This Agreement only grants you the right to access the Axon Interface and use Axon Services in the manner that is regulated by this Agreement.
This Agreement transfers no other rights (ownership, intellectual property rights or others) to you or anyone else.
Any information (e.g. feedback, ideas, suggestions or any other kind of material related to those) related to the Axon Interface or Axon Services that you share (via direct contact methods, via a third party, or publically) is owned by Axon. You hereby waive any rights, including for acknowledgement and compensation, related to this type of information or to changes resembling or based on this kind of information.
7. Privacy
Access to Axon services requires the submission of personal data.
By submitting an Account application, you confirm that you understand and consent to our Privacy Policy available at www.axon.finance/privacy
When you use the Interface, you are interacting with public blockchains, such as Ethereum. By their nature, they may provide transparency into your transactions. Axon has no control over and bears no responsibility for any information you make public on blockchains by using the Interface.
Please note, that in order to cooperate with law enforcement, court or government investigation or order, Axon shall have the right to disclose information or content that you have provided.
For more information about your personal data, its collection and use, please review Axon Privacy Policy at https://axon.finance/privacy
Important! Axon shall also have the right to use non-personally identifiable information to detect, prevent and mitigate financial crime and any other illicit or harmful activities on the Interface. This might be done by sharing the information with blockchain analytics providers and similar service providers.
8. Prohibited Activities
You agree not to engage, or attempt to engage, through your use of the Interface, in activities violating any applicable law of the Republic of Lithuania or another relevant jurisdiction. Such activities include, but are not limited to, the following categories:
- Intellectual property infringement
- Cyberattack
- Fraud and misinterpretation
- Market manipulation
- Securities and derivatives violations
- Regulatory requirements
- Any other public interests violation
- Any action negatively affecting the use of or the access to an Axon Account by a third party
- Any other third-party interests violation
- Use information provided by Axon for non-personal and/or commercial purposes
- Use your Axon Account or access to Axon Services or to third-party services via the Axon Account for non-personal and/or commercial purposes
- Use any method or process to access, use, test, modify, copy, download, store, transmit, transfer, publish, remove, disassemble or interfere with any material related to or contained in your Axon Account, Axon Services, third-party services available through the Axon Account, and any information provided by Axon, or their properties, in any way or for any purpose, different than those regulated in this Agreement
9. No Investment Advice
Axon provides no financial or investment advice.
All information and resources provided by or on behalf of Axon, whether through the Interface, the Website, or any other method of communication, are for your convenience only, and under no circumstances shall be interpreted as investment advice.
Further, Axon does not conduct a suitability or any other kind of review of any trades you submit through the Axon Interface.
All trades submitted through the Axon Interface are executed automatically, in accordance with the relevant trade execution procedures, and within the parameters of your order instructions.
You acknowledge and agree that all trades you submit via the Axon Interface are solely initiated by you, and you are solely responsible for any damages or liabilities arising thereof.
You acknowledge and understand that you are solely responsible for determining the appropriate investment strategy for your personal investment objectives, financial circumstances, and risk tolerance.
Axon urges all Users to seek legal, tax, and financial advice, before making any investment decisions.
10. No Custody. No Fiduciary Duties
The Axon Interface is a non-custodial application and this Agreement creates no fiduciary duties for Axon.
If any such duties exist under the applicable law, you hereby irrevocably disclaim any and all rights arising out of or in relation with those duties.
All assets (fiat money or cryptocurrencies) you use for Axon Services remain in your custody until they are transferred according to the trade parameters you have selected.
All assets (fiat money or cryptocurrencies) you use through the Axon Interface for third-party services integrated in the Axon Interface are subject to the terms and conditions of said third parties.
At no point in time and under no circumstances does Axon hold custody over User assets (fiat money or cryptocurrencies) - neither assets used for Axon Services, nor for third-party services integrated in the Axon Interface. Axon does not store cardholder funds (fiat money or cryptocurrency) when utilizing third-party services for payment processing and the funds are kept by 3rd party (either by yourself through the Cryptocurrency Wallet technical provider or by your payment service provider).
Therefore, as a User, you are solely and entirely responsible for the custody of the cryptographic private keys to your digital asset wallets.
11. Compliance and Tax Obligations
11.1. Compliance
Axon Services might not be available or appropriate in your jurisdiction. By accessing or using the Interface, you agree that you are solely responsible for compliance with all laws and obligations applicable to you.
Users acknowledge that their funds come from a legitimate source.
Axon might take steps to verify the legality of the source of funds, including requiring users to provide information or collect information in accordance with the relevant law.
11.2. Tax Obligations
The use of Axon Services may result in various tax consequences. Depending on the jurisdiction and the applicable law, those might be income or capital gains tax, value-added tax, goods and services tax, sales tax. The User is solely responsible for all aspects of taxation (including reporting and remitting tax) related to the use of Axon Services.
12. Third-Party Resources and Promotions
12.1. Third-Party Resources
The Axon Interface may contain references or hyperlinks to third-party resources, including websites.
Axon has no control over those resources, neither do we guarantee the accuracy of the information contained therein.
This Agreement does not apply to those resources.
If you access those resources, you do so at your own risk.
Axon bears no responsibility for damages arising out of or related to those resources.
12.2. Third-Party Promotions
Third parties may offer promotions related to your use of Axon Services.
Axon has no control over those promotions and this Agreement does not apply to them.
If you access those promotions, you do so at your own risk.
Axon bears no responsibility for damages arising out of or related to those promotions.
13. Assumptions of Risk
By using the Axon Interface and Axon Services, you represent that you understand the following:
13.1. The digital asset market is highly volatile and unpredictable.
13.2. By participating on the digital asset market you expose yourself to risk of your digital assets losing their value.
13.3. By participating on the digital asset market you expose yourself to malicious participants on the digital asset market.
13.4. Smart contract transactions are automatic and irreversible.
13.5. Axon does not control the price of assets, digital or not, that are accessible through the Axon Interface or Axon Services.
13.6. You need to be technically and financially knowledgeable in order to participate in the digital asset market and to properly safeguard your assets.
13.7. You assume full responsibility for all of the risks associated with accessing or using the Axon Interface and utilizing Axon Services.
13.8. For liquidity providers – that your digital assets may fluctuate in value or lose their value completely while they are part of the liquidity pool.
14. Indemnity
You agree to indemnify and hold harmless Axon, their affiliates, contractors, subsidiaries, and licensors, and their respective employees, officers, directors and agents from and against any and all claims, damages, liabilities, actions, proceedings, investigations, suits, costs, and expenses arising out of or related to:
- Your access to and/or use of the Axon Interface, Axon Account or Axon Services
- Your violation of the Axon Agreement or any other rules governing your legal relationship with Axon
- The application software or website has been hacked
- Any third party's access and/or use of the Axon Interface or Axon Services via your Axon Account
- Losses due to withdrawal of funds sent to the wrong crypto address
15. Disclaimer of Warranties
No statement made by Axon shall be interpreted as a warranty in regard to the Interface, the Services, or any other services or resources provided by or on behalf of Axon.
The Axon Interface, Axon Services and any other service or resource provided by or on behalf of Axon, are provided on an "as is" and "as available" basis.
Axon disclaims, to the fullest extent permitted by the applicable law, any representations and warranties of any kind, expressed or implied, including, but not limited to, warranties of merchantability and fitness for a particular purpose, or non-infringement.
You agree that you use the Interface and our Services at your own risk.
Axon does not represent or warrant that access to the Interface or the Services will be continuous, uninterrupted, timely or secure.
Axon does not represent or warrant that any Order will be accepted, executed, or remain open.
Axon does not represent or warrant that the Axon Interface, Axon Service, and all other services or resources provided by or on behalf of Axon are accurate, completely, reliable, current, or free of errors, viruses, defects or other harmful content.
Axon strives to provide you with complete and accurate information. This means that the content on the Interface is frequently updated, sometimes without notice (where allowed by the applicable law). It is your responsibility to verify all available information before taking action based on it.
16. Limitation of Liability
16.1. Under no circumstances shall Axon or any of our employees, directors, officers, contractors, agents, affiliates, or subsidiaries, be liable for any damages, including, but not limited to, damages for loss of data, profit, revenue or other benefit, arising out of or in relation to any access or loss thereof (temporary or permanent) or use of the Axon Interface, Axon Services, or any resource or service provided by or on behalf of Axon. This also includes interruptions and unavailability of services, and delays in processing or execution of orders, regardless of the reason.
16.2. Under no circumstances shall Axon or any of our employees, directors, officers, contractors, agents, affiliates, or subsidiaries, be liable for any claims, damages, losses or costs in an amount exceeding the amount of fees paid to Axon by you under this Agreement in the twelve-month period immediately preceding the event giving rise to the claim for liability.
16.3. These limitations apply to all claims, including claims based on contract, tort, or negligence.
16.4. These limitations apply even if Axon has been advised of the possibility of liability.
16.5. Any and all limitations, disclaimers, and waivers (made by you or by Axon) set forth in this Agreement apply to the fullest extent permitted by the applicable law. This means that if a limitation, disclaimer or waiver is partially invalid, inapplicable or unenforceable under the applicable law, the valid parts shall remain in full force and effect between the Parties.
17. Governing Law
17.1. Law Applicable to the Agreement
This Agreement, including its construction, validity and interpretation, shall be governed by the laws of Lithuania.
17.2. Interface and Arbitration Appeal
You further agree that the Interface shall be deemed to be based solely in Lithuania, and that although the Interface may be available in other jurisdictions, its availability does not give rise to general or specific personal jurisdiction in any forum outside Lithuania.
18. Dispute Resolution
18.1. Negotiation
All disputes arising out of or in connection with the Axon Agreement or Axon Services (the "Dispute"), shall be settled via the complaint procedure below:
18.1.1. In light of this, the User hereby agrees to contact Axon via the complaint form before referring the matter to formal dispute resolution.
18.1.2. The complaint form can be found at help.axon.finance or can be requested from our customer support agents or at help@axon.finance
18.1.3. The User must fill in the complaint form in its entirety, as well as provide all information they deem necessary.
18.1.4. The User will receive a confirmation of Axon’s receipt of the complaint form.
18.1.5. The complaint procedure shall be considered complete 40 business days after the complaint form is submitted or at the time of receipt of Axon’s response, whichever occurs first.
18.1.6. The User may accept or decline the solution offered by Axon. In both cases, the complaint procedure is considered complete.
18.1.7. If you refer the matter to formal dispute resolution without or before the complaint procedure is complete, Axon shall have the right to ask the relevant dispute resolution authority to dismiss your action.
18.2. If the Parties are unable to reach an agreement with the completion of the complaint procedure, the Dispute shall be finally settled by the courts of Lithuania.
19. Termination of Agreement
19.1. Suspension of Axon Account
Axon shall have the right to suspend your Axon Account or access to it at any time and for any reason, including but not limited to suspicion that you or your account violates rules applicable to your use of Axon Service (e.g. Axon Terms & Conditions, Axon Privacy Policy, mandatory laws and regulations).
The suspension might be in the form of: limiting access to your account from certain geographical locations, limiting access from your account to specific Axon Services or third-party services, limiting access to your account completely, or others.
The suspension might or might not be limited by a time frame, and it might or might not be put under a certain condition.
In case of account suspension, Axon shall have the right to keep and use any account-related data, according to this Agreement and the Axon Privacy Policy.
19.2. Termination of Axon Account
Axon shall have the right to terminate this Agreement and your Axon Account at any time and for any reason, including but not limited to:
- Violation or suspected violation of any rules applicable to your use of Axon Services (e.g. Axon Terms & Conditions, Axon Privacy Policy, mandatory laws and regulations)
- Axon Account termination request by you
- Other
Termination of your Axon Account is permanent.
In case of account termination, Axon shall have the right to keep and use any account-related data, according to this Agreement and the Axon Privacy Policy.
19.3. Liability
Under no circumstances shall Axon be liable to you for suspension or termination of your Axon Account.
20. Miscellaneous
20.1. Entire Agreement
These terms constitute the entire agreement between you and Axon with respect to the use of Axon Services.
This Agreement supersedes any and all prior written or oral agreements between you and Axon.
This Agreement shall not be modified or supplemented by usage of trade or other regular practice or method of dealing between the parties.
20.2. Modification
Axon shall have the right, at their own discretion, to modify this Agreement.
Axon shall announce all modifications to this Agreement (see x. Announcements).
Axon shall further notify their users by maintaining a current version of the Agreement at https://www.axon.finance/terms-of-service and by updating the date at the top of the Agreement.
Axon shall provide you with a direct notification via email, where required by the applicable law, or deemed appropriate by Axon.
More specifically, Axon shall provide you with a direct notification in advance via email for any modifications regarding E-Money and E-Money Services, where required by the applicable law.
All modifications to this Agreement, where lawful, shall become effective immediately after they are posted.
Continued use or accessing of the Interface by you will serve as confirmation of your acceptance of any modifications to this Agreement.
If you do not agree with any modification to this Agreement, you must immediately stop accessing and using the Interface.
20.3. Language and Translations
Any translation of this Agreement done by Axon shall be for your convenience only. The English version of this Agreement shall prevail in any case of ambiguity in a translated version or of discrepancy between the English version and a translated version.
20.4. Force Majeure
Axon will not be liable for any delay or failure to perform as required by this Agreement because of any cause or condition beyond Axon’s reasonable control.
20.5. Severability
If any portion of this Agreement, including the dispute resolution clause and the arbitration agreement contained therein, is held invalid or unenforceable, such invalidity or enforceability will not affect the other provisions of the Agreement, which will remain in full force and effect, and the invalid or unenforceable portion will be given effect to the greatest extent possible.
20.6. Assignment
You may not assign or transfer any right to use Axon Services or any of your rights or obligations under these Terms without prior written consent from Axon, including any right or obligation related to the enforcement of laws or the change of control. Axon may assign or transfer any or all of its rights or obligations under these Terms, in whole or in part, without notice or obtaining your consent or approval.
20.7. Waiver
The failure of one party to require performance of any provision will not affect that party’s right to require performance at any time thereafter. At the same time, the waiver of one party to seek recovery for the other party’s violation of these Terms or any provision of applicable terms shall not constitute a waiver by that party of any subsequent breach or violation by the other party or of the provision itself.
20.8. Announcements
All official announcements regarding Axon Services and all news, promotions, and competitions will be listed on https://axon.finance/announcements
As a User, you undertake to refer to those announcements on a regular basis.
Axon bears no responsibility for damages arising from ignorance or negligence of the announcements.
If you have questions regarding this Agreement, please contact us at legal@axon.finance