Terms of Service
These terms are an agreement between you and GAZZFUN LLC (“GAZZFUN”, “we”, “us”), which operates backx.trade. They govern your use of backx.trade, its website, interface and API (together, the “Service”). By signing in or using the Service you agree to them. If you do not agree, do not use the Service.
The Service is not live yet. Hedging and issuing are not available until launch. These terms apply from the moment you sign in.
1. What backx.trade is
backx.trade is an interface to smart contracts on Robinhood Chain. A hedger opens a position with multiplication on a token. An issuer deposits into a vault that funds that multiplication and earns fees and a share of outcomes. Positions are backed by real tokens bought and sold on-chain.
Neither backx.trade nor GAZZFUN LLC is a bank, broker, exchange or investment adviser. Nothing on the Service is investment, financial, legal or tax advice.
2. Eligibility
- You must be at least 18 years old and able to enter a binding agreement.
- You may not use the Service if you are a person or entity subject to sanctions, or located in a country or region where the Service or any of its markets is prohibited or requires a licence we do not hold. Some markets, such as tokenized stocks, may be unavailable in your location.
- You are responsible for knowing and following the laws that apply to you, including tax.
3. Your account and your wallet
- You sign in through our login provider, Privy, with email, phone number, a social account (such as Google, X, Discord, Twitch, Telegram or Farcaster) or a passkey. A wallet is created for you that you own and control. You can export it from Settings.
- backx.trade never holds your funds. Deposits go straight to your own wallet, and every trade is signed from it.
- Keep your login secure. Anyone who controls your login can control your wallet. We cannot reverse blockchain transactions or recover lost funds.
- When you withdraw, you enter the recipient address yourself. Funds sent to a wrong address cannot be recovered.
4. Risks
Using the Service involves significant risk. You can lose money. In particular:
- Hedgers can lose most or all of their stake. A position is liquidated when the token falls past its liquidation price. Higher multiplication means a smaller move triggers liquidation.
- Issuers are repaid first, but are not risk-free. If the price gaps past the liquidation price before a position can be sold, issuers can lose part of what was lent. A safety fund covers such gaps where it can, but may not cover all losses.
- Smart contracts can contain bugs. Blockchains, oracles, liquidity pools and the login provider can fail, be attacked or be unavailable.
- Prices of tokens can be extremely volatile, and liquidity can disappear. Executed prices may differ from displayed prices.
- Past or simulated results do not predict future results.
5. Fees
Fees are shown in the order ticket before you sign. They include a holders fee and a safety-fund contribution on the stake, a borrow fee on the amount lent, and swap and price-impact costs paid to liquidity pools. Network gas may apply. Fees are set by the contracts and may change for new positions.
6. Acceptable use
You will not: manipulate prices or liquidations; exploit bugs instead of reporting them; use the Service for money laundering, sanctions evasion or other illegal activity; interfere with, overload or scrape the Service or its API; or access it through automated means we have not allowed.
7. Availability and changes
We may change, suspend or stop any part of the interface, list or delist markets, or restrict access, at any time and for any reason, including legal or security reasons. The smart contracts run on a public blockchain and may remain accessible independently of this website.
8. No warranty
The Service is provided “as is” and “as available”, without warranties of any kind, express or implied, to the extent permitted by law.
9. Limitation of liability
To the extent permitted by law, GAZZFUN LLC, its owners, employees and contractors are not liable for indirect or consequential losses, lost profits, or losses caused by market movements, liquidations, blockchain or third-party failures, or your own actions. Nothing in these terms limits liability that cannot be limited by law, including mandatory consumer rights.
10. Changes to these terms
We may update these terms. The date at the top shows the latest version. Material changes will be announced on the Service. Continued use after a change means you accept it.
11. Governing law
These terms are governed by the laws of Norway. Disputes go to the Norwegian courts, unless mandatory consumer law where you live says otherwise.
12. Contact
Questions about these terms: terms@gazz.fun.