Acceptance of These Terms of Service
Convallax (“Convallax,” “we,” “us,” or “our”) provides our trading platform (described below) and related application interfaces, feeds, smart contract interactions, documentation and related content to you through our website located at https://convallax.com/ (the “Site”) and through our related technologies (such platform and related technology, together with the Site, including any updated or new features, functionality and technology, collectively, the “Service”). All access and use of the Service is subject to the terms and conditions contained in these Terms of Service (as amended from time to time, these “Terms of Service”). By accessing, browsing, connecting a wallet to, submitting an RFQ through, quoting on, accepting a quote through, calling any smart contract function through, or otherwise accessing or using any part of the Service, you acknowledge that you have read, understood, and agree to be bound by these Terms of Service and by any additional terms, policies, schedules, or rules that are expressly incorporated into these Terms of Service. If you do not accept the terms and conditions of these Terms of Service, you will not access, browse, or otherwise use the Service. We reserve the right, at our sole discretion, to change or modify portions of these Terms of Service at any time. If we do this, we will post the changes on this page and will indicate at the top of this page the date these Terms of Service were last revised. Your continued use of the Service after the date any such changes become effective constitutes your acceptance of the new Terms of Service. You should periodically visit this page to review the current Terms of Service so you are aware of any revisions. If you do not agree to abide by these or any future Terms of Service, you will not access, browse, or use (or continue to access, browse, or use) the Service. PLEASE READ THESE TERMS OF SERVICE CAREFULLY, AS THEY CONTAIN AN AGREEMENT TO ARBITRATE AND OTHER IMPORTANT INFORMATION REGARDING YOUR LEGAL RIGHTS, REMEDIES, AND OBLIGATIONS. THE AGREEMENT TO ARBITRATE REQUIRES (WITH LIMITED EXCEPTION) THAT YOU SUBMIT CLAIMS YOU HAVE AGAINST US TO BINDING AND FINAL ARBITRATION, AND FURTHER (1) YOU WILL ONLY BE PERMITTED TO PURSUE CLAIMS AGAINST CONVALLAX ON AN INDIVIDUAL BASIS, NOT AS A PLAINTIFF OR CLASS MEMBER IN ANY CLASS OR REPRESENTATIVE ACTION OR PROCEEDING, (2) YOU WILL ONLY BE PERMITTED TO SEEK RELIEF (INCLUDING MONETARY, INJUNCTIVE, AND DECLARATORY RELIEF) ON AN INDIVIDUAL BASIS, AND (3) YOU MAY NOT BE ABLE TO HAVE ANY CLAIMS YOU HAVE AGAINST US RESOLVED BY A JURY OR IN A COURT OF LAW. Your Privacy: At Convallax, we respect the privacy of our users. For more information please see our Privacy Policy. By using the Service, you consent to our collection, use and disclosure of personal data and other data as outlined therein. Additional Terms: In addition, when using certain features through the Service, you will be subject to any additional terms applicable to such features that may be posted on or within the Service from time to time (“Additional Terms”). All such Additional Terms are hereby incorporated by reference into these Terms of Service.Access and Use of the Service
Service Description: The Service is designed to allow eligible users to trade European cash-settled options — calls and puts — on the YES outcome price of binary prediction markets listed on supported third-party venues (currently Polymarket). The Service facilitates the creation, trading, and settlement of option contracts through smart contracts deployed on the Polygon blockchain, using an off-chain request-for-quote (RFQ) system for price discovery and on-chain atomic settlement via EIP-712 signed orders. Option positions are represented as ERC-1155 tokens and collateralized in USDC. Nothing in the Service is intended to constitute, and the Service does not provide, legal, tax, accounting, investment, financial, brokerage, clearing, custody, escrow, fiduciary, or gambling advice. Convallax is not your agent, broker, dealer, exchange, clearing organization, futures commission merchant, designated contract market, bank, trustee, investment adviser, or fiduciary. Eligibility: To access or use the Service, you represent, warrant, and covenant that: (a) you are at least eighteen (18) years old or the age of legal majority in your jurisdiction, whichever is higher; (b) you have full legal capacity and authority to enter into these Terms of Service; (c) you are not the subject of any sanctions administered or enforced by any governmental authority and are not owned or controlled by, or acting on behalf of, any sanctioned or otherwise restricted person; (d) you are not located in, organized in, resident in, or otherwise subject to any jurisdiction in which the Services would be deemed illegal under applicable laws; and (e) your access to and use of the Service does not violate any law, regulation, judgment, order, contractual restriction, or other obligation applicable to you. You are solely responsible for determining whether your access to and use of the Service is lawful in your jurisdiction. You may not use a virtual private network (VPN), proxy service, anonymization service, or any similar method to obscure your location or to circumvent geographic, sanctions, or other eligibility restrictions. Any such conduct constitutes a material breach of these Terms of Service. Wallets, Credentials, and Security: To use certain features of the Service, you must connect a compatible wallet. You are solely responsible for maintaining the confidentiality and security of your wallet credentials, private keys, seed phrases, and any associated account information. Convallax will not be liable for any loss, damage, unauthorized access, unauthorized transaction, or other consequence arising from your failure to maintain adequate security or from the compromise, misuse, theft, disclosure, or loss of any credentials associated with you. Any instruction, request, signature, message, or transaction initiated through your connected wallet will be deemed authorized by you. You agree to notify Convallax promptly of any suspected or actual unauthorized access to your wallet or account. No Custody: Convallax operates on a non-custodial basis. Convallax does not take custody of your digital assets and does not hold your private keys. TheConvallaxRFQSettlement smart contract facilitates atomic swaps between counterparties and never holds custody of funds. USDC collateral deposited by option writers is held by the ConvallaxCore smart contract, not by Convallax the company.
Supported Assets and Networks: The Service currently supports USDC on Polygon Amoy testnet (chain ID 80002). Convallax may change the supported assets, tokens, networks, and other technical parameters of the Service at any time in its sole discretion.
RFQs and Quotes; Trade Formation: The Service enables users to submit request-for-quote opportunities (“RFQs”) referencing supported option series and to receive quotes from market makers. An RFQ is a request for liquidity only. A quote is indicative or firm only to the extent expressly designated by the Service, and in all cases remains subject to expiry, withdrawal, risk checks, and successful execution of the relevant on-chain and off-chain workflows.
A user’s acceptance of a quote constitutes a request to proceed and does not, by itself, create a completed position. No RFQ, quote, acceptance, or other communication creates a completed position unless and until the relevant fill() transaction has been successfully submitted, accepted by the Polygon network, and recorded on-chain. Until a position has been formed on-chain, Convallax and/or the relevant market maker may reject, cancel, expire, or otherwise decline to proceed with any RFQ or quote for any reason.
Market Makers: Users acting as market makers through the WebSocket relay agree that Convallax may impose API, connectivity, performance, quoting, and other operational requirements at any time. Convallax may reject, delay, throttle, suspend, or remove quotes or market maker access in its sole discretion and without liability.
Option Series and Underlying Venues: The Service interacts with markets listed on third-party prediction market venues (each, an “Underlying Venue”). Convallax may add, remove, suspend, or stop supporting any Underlying Venue or option series at any time and for any reason. You acknowledge and agree that the rules, market definitions, corrections, cancellations, voids, and final outcomes of the applicable Underlying Venue may affect the status, value, or settlement of any option position. Convallax may rely on an Underlying Venue’s published outcomes and has no duty to independently verify them.
Resolution and Settlement: Option settlement relies on a resolution price computed off-chain (via VWAP or binary determination) and attested on-chain through an EIP-712 signed attestation from a designated resolution signer. You acknowledge that: (a) the resolution signer is an operational trust assumption; (b) the on-chain contract verifies signature authenticity but does not independently verify VWAP computations; (c) settlement timing is not guaranteed and may be delayed; and (d) Convallax may, in its sole discretion, use the owner break-glass settlement function in exceptional circumstances.
Automation Access: The Service provides REST APIs, WebSocket feeds, and documentation for programmatic access. All API and WebSocket access is provided on an “as is” and “as available” basis. Convallax does not guarantee uptime, performance, or continued availability of any endpoint. Convallax may modify, throttle, suspend, or discontinue any interface at any time without liability.
Assumption of Risk: USING THE SERVICE INVOLVES SUBSTANTIAL RISK. YOU MAY LOSE ALL OR PART OF THE DIGITAL ASSETS OR VALUE ASSOCIATED WITH A POSITION. Without limiting the foregoing, you understand and agree that: (a) options trading is inherently risky and speculative; (b) digital assets are volatile; (c) blockchain networks and smart contracts may malfunction or behave in unexpected ways; (d) Underlying Venues may correct, cancel, void, or otherwise change market outcomes; (e) data displayed by the Service may be delayed, incomplete, or inaccurate; and (f) the legal and regulatory treatment of digital assets, prediction markets, and options is uncertain and may change rapidly.
No Advice: The Service does not provide, and nothing on the Service should be construed as, investment advice, financial advice, legal advice, tax advice, or a recommendation to enter into any transaction. You are solely responsible for evaluating the suitability and legality of any position. You should access and use the Service only with assets you can afford to lose.
Conditions of Access and Use
Representations and Warranties: By accessing or using the Service, you represent, warrant, and covenant that: (a) you satisfy all eligibility requirements in these Terms of Service; (b) all information you provide to Convallax is true, accurate, current, and complete; (c) you own or validly control the wallets and digital assets that you use in connection with the Service; (d) you have all authority necessary to enter into these Terms of Service; (e) your use of the Service will comply with all applicable laws; and (f) you understand and accept the risks described in these Terms of Service. User Conduct: You agree to not use the Service to:- transmit any content that infringes any intellectual property or other proprietary rights of any party;
- interfere with or disrupt the Service or servers or networks connected to the Service;
- violate any applicable local, state, national, or international law;
- impersonate any person or entity, or falsely state or otherwise misrepresent your affiliation with a person or entity;
- engage in fraud, deception, market manipulation, wash trading, spoofing, or any other abusive or manipulative conduct;
- exploit bugs, vulnerabilities, or unintended behavior in the Service, any smart contract, any API, or any third-party service;
- use a VPN, proxy, or any similar tool to conceal your location or circumvent Service restrictions;
- engage in or use any data mining, robots, scraping, or similar data gathering or extraction methods;
- use the Service after Convallax has suspended or terminated your access.
Intellectual Property Rights
Service Content: You acknowledge and agree that the Service may contain content or features (“Service Content”) that are protected by copyright, patent, trademark, trade secret, or other proprietary rights and laws. Except as expressly authorized by Convallax, you agree not to modify, copy, frame, scrape, rent, lease, loan, sell, distribute, or create derivative works based on the Service or the Service Content. Trademarks: The Convallax name and logos are trademarks and service marks of Convallax. Nothing in these Terms of Service should be construed as granting any license or right to use any Convallax trademarks without our prior written permission. Third-Party Material: Under no circumstances will Convallax be liable for any content or materials of any third parties, including for any errors or omissions in any content, or for any loss or damage incurred as a result of the use of any such content.Indemnification
To the extent permitted under applicable law, you agree to defend, indemnify, and hold harmless Convallax and its officers, employees, directors, service providers, licensors, and agents (collectively, the “Convallax Parties”), from any and all losses, damages, expenses, including reasonable attorneys’ fees, rights, claims, actions of any kind, and injury arising out of or relating to (a) your access to or use of the Service; (b) your wallets, credentials, or integrations; (c) your violation of these Terms of Service or any law; (d) your infringement or misappropriation of any right of any person or entity; or (e) any dispute between you and any other user, market maker, Underlying Venue, or third party.Disclaimer of Warranties
THE SERVICE IS PROVIDED ON AN “AS IS” AND “AS AVAILABLE” BASIS, WITH ALL FAULTS, AND WITHOUT WARRANTIES OF ANY KIND, WHETHER EXPRESS, IMPLIED, STATUTORY, OR OTHERWISE. TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, THE CONVALLAX PARTIES DISCLAIM ALL WARRANTIES, INCLUDING ANY IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE, NON-INFRINGEMENT, ACCURACY, AVAILABILITY, QUIET ENJOYMENT, AND SECURITY. WITHOUT LIMITING THE FOREGOING, THE CONVALLAX PARTIES DO NOT WARRANT THAT THE SERVICE, ANY QUOTE, ANY RFQ, ANY MARKET DATA, ANY SMART CONTRACT INTERACTION, ANY OPTION TOKEN, ANY SETTLEMENT ATTESTATION, OR ANY RESOLUTION PRICE WILL BE AVAILABLE, TIMELY, ACCURATE, COMPLETE, RELIABLE, SECURE, OR ERROR-FREE; THAT DEFECTS WILL BE CORRECTED; THAT ANY TRANSACTION WILL BE EXECUTED, MINED, FINALIZED, OR SETTLED; OR THAT ANY POSITION WILL PRODUCE ANY PARTICULAR RESULT.Limitation of Liability
TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, THE CONVALLAX PARTIES WILL NOT BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, EXEMPLARY, PUNITIVE, OR ENHANCED DAMAGES, OR FOR ANY LOSS OF PROFITS, REVENUE, GOODWILL, DATA, USE, OPPORTUNITY, OR DIGITAL ASSETS, EVEN IF ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. Without limiting the foregoing, the Convallax Parties will not be liable for losses or damages arising out of or relating to: (a) any adverse market movement, failed position, or losing position; (b) any action or inaction by an Underlying Venue or any third-party service; (c) any pricing discrepancy, market-data error, display error, or stale information; (d) any bug, exploit, vulnerability, hack, or other security incident; (e) any failure, delay, or interruption of any blockchain, RPC, wallet, or smart contract; (f) any incorrect network, incorrect asset, incorrect address, failed transfer, or insufficient balance; (g) any suspension, cancellation, repricing, reversal, or delay affecting any RFQ, quote, position, or settlement; (h) any unauthorized access or use of your credentials or wallet; or (i) any failure or delay resulting from causes beyond reasonable control, including acts of God, natural disasters, war, terrorism, sanctions, government actions, legal or regulatory changes, power failures, blockchain failures, bugs, exploits, or denial-of-service events. To the maximum extent permitted by applicable law, the aggregate liability of the Convallax Parties to you for all claims arising out of or relating to these Terms of Service and the Service will not exceed the greater of: (i) the total fees actually paid by you to Convallax during the six (6) months immediately preceding the event giving rise to the claim; or (ii) one hundred U.S. dollars (US$100).Dispute Resolution By Binding Arbitration
PLEASE READ THIS SECTION CAREFULLY AS IT AFFECTS YOUR RIGHTS.Agreement to Arbitrate
This Dispute Resolution by Binding Arbitration section is referred to in these Terms of Service as the “Arbitration Agreement.” You agree that any and all disputes or claims that have arisen or may arise between you and Convallax, whether arising out of or relating to these Terms of Service (including any alleged breach thereof), the Service, or any aspect of the relationship or transactions between us, will be resolved exclusively through final and binding arbitration, rather than a court, in accordance with the terms of this Arbitration Agreement, except that you may assert individual claims in small claims court if your claims qualify. You agree that, by entering into these Terms of Service, you and Convallax are each waiving the right to a trial by jury or to participate in a class action. The Federal Arbitration Act governs the interpretation and enforcement of this Arbitration Agreement.Prohibition of Class and Representative Actions and Non-Individualized Relief
YOU AND CONVALLAX AGREE THAT EACH OF US MAY BRING CLAIMS AGAINST THE OTHER ONLY ON AN INDIVIDUAL BASIS AND NOT AS A PLAINTIFF OR CLASS MEMBER IN ANY PURPORTED CLASS OR REPRESENTATIVE ACTION OR PROCEEDING. UNLESS BOTH YOU AND CONVALLAX AGREE OTHERWISE, THE ARBITRATOR MAY NOT CONSOLIDATE OR JOIN MORE THAN ONE PERSON’S OR PARTY’S CLAIMS AND MAY NOT OTHERWISE PRESIDE OVER ANY FORM OF A CONSOLIDATED, REPRESENTATIVE, OR CLASS PROCEEDING.Pre-Arbitration Dispute Resolution
Convallax is always interested in resolving disputes amicably and efficiently. A party who intends to seek arbitration must first send to the other, by certified mail, a written Notice of Dispute (“Notice”). The Notice to Convallax should be sent to legal@convallax.com. The Notice must (i) describe the nature and basis of the claim or dispute and (ii) set forth the specific relief sought. If Convallax and you do not resolve the claim within sixty (60) calendar days after the Notice is received, you or Convallax may commence an arbitration proceeding.Arbitration Procedures
Arbitration will be conducted by a neutral arbitrator in accordance with the American Arbitration Association’s (“AAA”) rules and procedures, including the AAA’s Consumer Arbitration Rules (collectively, the “AAA Rules”), as modified by this Arbitration Agreement. For information on the AAA, please visit https://www.adr.org.Costs of Arbitration
Payment of all filing, administration, and arbitrator fees will be governed by the AAA Rules, unless otherwise provided in this Arbitration Agreement. To the extent any fees are not specifically allocated, Convallax and you shall split them equally; provided that if you demonstrate that you are economically unable to pay your portion, Convallax will pay your portion of such fees.Confidentiality
All aspects of the arbitration proceeding, and any ruling, decision, or award by the arbitrator, will be strictly confidential for the benefit of all parties.Severability
If a court or the arbitrator decides that any term or provision of this Arbitration Agreement is invalid or unenforceable, the parties agree to replace such term or provision with one that is valid and enforceable and that comes closest to expressing the intention of the invalid or unenforceable term or provision.Future Changes to Arbitration Agreement
Notwithstanding any provision in these Terms of Service to the contrary, Convallax agrees that if it makes any future change to this Arbitration Agreement while you are a user of the Service, you may reject any such change by sending Convallax written notice within thirty (30) calendar days of the change.Suspension and Termination
Convallax may, at any time and in its sole discretion, with or without notice, suspend, restrict, limit, disable, or terminate your access to all or any part of the Service for any reason or no reason, including any actual, suspected, or potential breach of these Terms of Service, eligibility concerns, compliance concerns, legal or regulatory concerns, security concerns, or operational concerns. Convallax may also cancel, reject, or decline to facilitate pending RFQs, quotes, or settlement-related actions where Convallax determines that doing so is advisable. Nothing in these Terms of Service obligates Convallax to continue to provide the Service or any feature of the Service. Any existing on-chain positions, option tokens, and collateral remain accessible through direct smart contract interaction regardless of Service availability. Settlement and claim functions onConvallaxCore are never blocked by platform-level suspension. Termination or suspension of your access does not limit any other right or remedy available to Convallax.