Terms of Service

Last revised on October 22nd, 2024

1. Introduction

These Terms of Service (“Terms”) are entered into between you (“User”, “You” or “Your”) and the CoinRaces Operators (as deﬁned below) (“CoinRaces”, “we”, “us” or “our”).

It is your responsibility to read these Terms together with the provisions set forth in our Privacy Policy carefully before using this website. By accessing, registering, downloading, using, clicking on information pertaining to or purchasing the CoinRaces Services, tools and information made available through this website and/or Telegram and/or mobile and/or desktop application in any capacity, you agree that you have read, understood, accepted and agree to be bound by these Terms as well as our Privacy Policy when using this website. If you do not agree to these Terms and our Privacy Policy, you should immediately stop using this website or the CoinRaces Services. In addition, when using some features of the CoinRaces Services, you may be subject to speciﬁc additional terms and conditions applicable to those features and services provided by Third Party Service Providers, and you agree to be bound by the additional terms and conditions with such providers.

We reserve the right to modify or amend these Terms, the website or any Content on the website from time to time, including for security, legal or regulatory reasons, to reﬂect updates or changes to the service or functionality of the website. We may indicate on our web page, and/or Telegram and/or mobile and/or desktop application or by email that the Terms have changed. You accept that by doing so, we have provided you with sufficient notice of such change. Notwithstanding the foregoing, you are advised to check these Terms periodically to ensure that you are aware of and are complying with the terms of the then existing current versions. Changes are binding on all Users of the website and will take effect immediately from the posting of the revised documentation on the website. You agree to be bound by such variation and your continued use of the website, tools and information made available shall constitute your acceptance of such variation.

We encourage you to seek professional advice regarding any tax and legal requirements with which you must comply in relation to you being a user of this website, our tools and services.

By creating an account on the CoinRaces Site or clicking “I agree” (or a similar language) to these Terms, acknowledging these Terms by other means, or otherwise accessing or using the CoinRaces prediction games platform, CoinRaces Site or the CoinRaces Services, you accept and agree to be bound by and to comply with these Terms, including, without limitation, the mandatory arbitration provision in Section 9. If you do not agree to these Terms, then you must not access or use the Site or the Services.

Construction

The Terms comprise:

the general terms and conditions set out herein in Section 1 (Introduction) to Section 10 (Miscellaneous) which apply generally to you, your registration and use of a CoinRaces Account and the CoinRaces Services (“General Terms”);

the policies and other documents of the CoinRaces Operators including our Privacy Policy (“CoinRaces Policies”);
the terms set out in each Service Schedule which are incorporated herein by reference and shall also apply to the Specified Service referred to therein.

To the extent there is any conflict or inconsistency between the components of the Terms, such conflict or inconsistency shall be resolved in the following order of precedence, unless a term and condition set out in a document of lower precedence is expressly identified as taking precedence over a document of higher precedence: Terms of Service, Service Schedules, Privacy Policy and other CoinRaces Policies.

If the parties agree to enter into a transaction using an electronic medium (for example an internet website) then the terms applicable to that electronic medium shall prevail to the extent they are binding on the parties and are inconsistent with these Terms.

A provision of law is a reference to that provision as amended or re-enacted.

Headings are for ease of reference only.

2. Interface, Regulation and Risk

Your CoinRaces Account is not a bank account, deposit account, savings account or any other type of asset account and should not be treated or characterised as a banking product or service. CoinRaces is not providing any investment-based products, CoinRaces provides an Interface which facilitates your access to predication gaming applications that are managed by smart contracts. Your participation in any predication games does not constitute the provision by CoinRaces of a cryptocurrency or digital asset wallet for storing and manging your digital asset holdings.

CoinRaces Interface provides a web or mobile-based means of access to decentralized protocols on various public blockchains, including but not limited to BNB chain and the TON network that allows users to stake certain digital assets in digital asset prediction games and/or access to the order contract; Supported Contracts (as defined below); decentralized applications; APIs; all software made available by CoinRaces to operate the Interface for blockchain-based assets (collectively, “Digital Assets”), including, without limitation, entering into contracts (“Contracts”) related to a specified event, occurrence, or value (collectively, the “Services”).

SUPPORTED PREDICTION GAME CONTRACTS ARE NOT OFFERED TO PERSONS OR ENTITIES WHO RESIDE IN, ARE CITIZENS OF, ARE LOCATED IN, ARE INCORPORATED IN, OR HAVE A REGISTERED OFFICE IN THE UNITED STATES OF AMERICA (COLLECTIVELY, “US PERSONS”). MOREOVER, NONE OF THE COINRACES SERVICES ARE OFFERED TO PERSONS OR ENTITIES WHO RESIDE IN, ARE LOCATED IN, ARE INCORPORATED IN, OR HAVE A REGISTERED OFFICE IN ANY RESTRICTED TERRITORY, AS DEFINED IN SECTION 3 BELOW (ANY SUCH PERSON OR ENTITY FROM A RESTRICTED TERRITORY, A “RESTRICTED PERSON”). WE DO NOT MAKE EXCEPTIONS; THEREFORE, IF YOU ARE A US PERSON, THEN DO NOT ATTEMPT TO USE OR ACCESS THE PREDICTION GAMES CONTRACTS AND IF YOU ARE A RESTRICTED PERSON, THEN DO NOT ATTEMPT TO USE ANY OF THE SERVICES, AS DEFINED BELOW.

The Interface is distinct from the CoinRaces software applications and is one, but not the exclusive, means of accessing the prediction games, smart contracts and protocols. The CoinRaces’ software application/s comprises open-source or source-available self-executing smart contracts that are deployed on various public blockchains, such as TON, BNB and Ethereum. CoinRaces does not control or operate any version of the Protocol on any blockchain network. By using the Interface, you understand that you are not buying or selling digital assets from us and that we do not operate any liquidity pools on the Protocols or control and/or facilitate trading, swaps or trade execution on any Protocols. When users pay fees for entering into contracts, those fees accrue to the collective users of the protocol as governed by the Protocols Smart Contracts.

To access the Interface, you must use a non-custodial wallet software, which allows you to interact with public blockchains. Your relationship with that non-custodial wallet provider is governed by the applicable terms of service (with respect to a third-party wallet, the applicable terms of service of such third party). We do not have custody or control over the contents of your wallet and have no ability to retrieve or transfer its contents. By connecting your wallet to our Interface, you agree to be bound by this Agreement and all of the terms incorporated herein by reference

CoinRaces Interface and software is a purely non-custodial application, meaning we do not ever have custody, possession, or control of your digital assets at any time. It further means you are solely responsible for the custody of the cryptographic private keys to the digital asset wallets you hold, and you should never share your wallet credentials or seed phrase with anyone. We accept no responsibility for, or liability to you, in connection with your use of a wallet and make no representations or warranties regarding how any of our Products will operate with any specific wallet. Likewise, you are solely responsible for any associated wallet, and we are not liable for any acts or omissions by you in connection with or as a result of your wallet being compromised.

No CoinRaces Service or entity is authorised or regulated by the United Kingdom Financial Conduct Authority (“FCA”) for the purposes of crypto asset exchange, crypto asset custody, broader crypto asset services or for making payments in crypto assets. Your Digital Assets, are not protected by the Financial Services Compensation Scheme or the Financial Ombudsman Service or any other consumer protections or similar schemes in any jurisdiction.

As part of CoinRaces Services, CoinRaces has engaged various Third-Party Service Providers which may be regulated and authorised in respect of the services they provide. You acknowledge and agree that our providing access to services with Third Party Service Providers shall not be deemed to confer any requirement for authorisation on the part of CoinRaces or constitute CoinRaces being regulated or authorised to provide the services that are provided by the Third-Party Service Providers.

You acknowledge and agree that any Service referred to in a Service Schedule shall be provided to you by the Operator and/or such Third-Party Service Provider specified in that Service Schedule. In such case, the relevant Specified Service shall be provided to you on and subject to these Terms, with references in these Terms to “CoinRaces” (or “we”, “our” or “us”) being read as references to the Operator or Third Party Service Provider specified in the relevant Service Schedule, unless the context provides otherwise, and under no circumstances shall any other person, including any affiliate of the Operator or Third Party Service Provider, be liable to you for the performance of any of the Operator or Third Party Service Provider’s obligations under these Terms.

The Regulatory Regime Governing Digital Assets and Prediction Gaming

The regulatory framework governing Prediction Gaming and Digital Assets remains unsettled, and laws, regulations, or guidelines may be signiﬁcantly revised and amended which may materially and adversely affect the value of Digital Assets and our services accessed through the Interface to prediction games.

CoinRaces may be required to obtain licences, permits, and/or approvals in any jurisdiction where it seeks to offer the CoinRaces Services. If CoinRaces is unable to obtain such regulatory approvals or if such regulatory approvals are not renewed or are revoked for any reason, the Users in such jurisdictions may be unable to access or use the CoinRaces Services or may be restricted to use part of the CoinRaces Services. In the case where CoinRaces may be requested or forced to suspend or discontinue or to change the operation of the CoinRaces Services in any jurisdiction required by law or authorities, your CoinRaces access may be restricted for an indeﬁnite period of time until the matter is solved.

You shall be responsible for determining whether the use of the CoinRaces Services is legal in your jurisdiction, and you shall not access or use the CoinRaces Services if, to the best of your knowledge they are illegal in your jurisdiction. If you are uncertain on the legal status of Prediction Gaming or Digital Assets in your jurisdiction, please seek independent advice from your legal advisor.

You further represent that you are not (a) the subject of economic or trade sanctions administered or enforced by any governmental authority or otherwise designated on any list of prohibited or restricted parties (including but not limited to the list maintained by the Office of Foreign Assets Control of the U.S. Department of the Treasury) or (b) a citizen, resident, or organized in a jurisdiction or territory that is the subject of comprehensive country-wide, territory-wide, or regional economic sanctions by the United States. You, furthermore, represent that your access and use of any of the CoinRaces Services will fully comply with all applicable laws and regulations, and that you will not access or use any of our Products to conduct, promote, or otherwise facilitate any illegal activity.

Risk of Loss of Value

The value of Digital Assets are affected by several factors, including but not limited to, the total number of Digital Assets in existence, the continued willingness of market participants to exchange Fiat Currencies for Digital Assets, purchasers’ expectations with respect to the rate of inﬂation of Fiat Currencies, purchasers’ expectations with respect to the rate of deﬂation of cryptocurrencies, interest rates, currency exchange rates, cyber theft of cryptocurrencies, or news of such theft from digital wallets, investment and trading activities of large investors, monetary policies of governments, trade restrictions, currency devaluations and revaluations, regulatory measures, the global or regional political, economic or ﬁnancial events and situations. Thus, all these factors shall affect the value of Digital Assets, which may result in the permanent partial or total loss of the value of a particular Digital Asset. No one shall be obliged to guarantee the liquidity or the market price of any of the Digital Assets staked by you through the CoinRaces Interface. The volatility and unpredictability of the value of Digital Assets relative to Fiat Currencies may result in a signiﬁcant loss over a short period of time.

Title Transfer Risk

You do not have any oversight or control over the Digital Assets that you have staked in a prediction game, and, subject to the next sentence, any gain or loss from your activities will be borne by you and not us. However, if any smart contract fails then we may impose limits on your ability to use the CoinRaces Interface. Although we are not directly responsible for this risk, nor can we take definitive actions to remove this risk entirely, to reduce it we perform periodic and, in some cases, real-time analysis of code, smart contracts, price feeds and other technical analysis of all systems, entities and third parties that the CoinRaces Interface may interact with or rely on. In the worst-case scenario, if the smart contracts fail, you may not receive the same amount of Digital Assets that you have staked or any at all.

Taxation

The tax treatment of Digital Assets is uncertain, and it is your responsibility to determine whether taxes arise from your use of the CoinRaces Services. You acknowledge and agree that CoinRaces does not provide investment, legal or tax advice and that you shall be solely responsible for reporting and paying any applicable taxes arising from your use of the CoinRaces Services. You understand and acknowledge that CoinRaces may be required by Applicable Laws to report information to a tax or governmental authority regarding your transactions through the CoinRaces Interface.

3. Definitions

“KYC” means any KYC requirements and the adoption of new terms and conditions as may be required by regulators or by any Third-Party Service Providers in the jurisdictions where the CoinRaces Services are available. Additional KYC includes but is not limited to, originator and beneficiary financial information as required by the Financial Action Task Force and the European Parliament legislative resolution dated 20 April 2023 on the proposal for a regulation of the European Parliament and of the Council on information accompanying transfers of funds and certain crypto-assets and a live video interview where the a CoinRaces, contracted, Third-Party KYC provider uses a video conferencing solution that conducts identification and verification of the individual User and the documents provided using facial biometrics and built-in security features that can detect any identification attacks or risks. The purpose of the live video interview is to assess the User profile and the User’s understanding of the CoinRaces Services.

“AML” means Anti-Money Laundering.

“Applicable Laws” means any acts, statutes, regulations, ordinance, treaties, guidelines, policies issued by any governmental organisations, intergovernmental organisations or regulatory bodies, including but not limited to the governing law of any Member State of the European Union and any other global Jurisdiction.

“CFT” means Combating the Financing of Terrorism.

“Cold Storage” means the storing of crypto assets on physical devices which are not connected to the Internet.

"CoinRaces.io" means a to be incorporated, limited liability company that is also the web URL for access to the CoinRaces Interface to prediction games.

"CoinRaces Operators" means the to be incorporated legal entities that will provide the CoinRaces Services, currently operated and provide by the Project Founders and their consultants and contractors; that operate the https://coinraces.io/ website, and/or any additional CoinRaces operator due to the expansion of the provision of new CoinRaces services, including but not limited to their legal persons, unincorporated organisations and teams that provide the CoinRaces Services and are responsible for such services. For convenience, unless otherwise stated, references to "CoinRaces " and "we" in these Terms speciﬁcally mean CoinRaces Operators.

"CoinRaces Platform Rules" means all rules, interpretations, announcements, statements, letters of consent and other Contents that have been and will be subsequently released by CoinRaces, as well as all regulations, implementation rules, product process descriptions, and announcements published in this website or within products or service processes including all such relevant information available on the FAQ section of the CoinRaces website.

"CoinRaces Interface" means the website, and/or Telegram and/or mobile and/or desktop software applications in any capacity and any other ofﬁcial CoinRaces communication channels made available for access to use the CoinRaces Services and being subject to revision periodically.

"CoinRaces Services" refer to various services provided to you by CoinRaces, CoinRaces Operators or CoinRaces’ Third-Party Service Providers that are based on Internet and/or blockchain technologies and offered via the CoinRaces website and/or Telegram and/or mobile and/or desktop software applications, and other forms (including new ones enabled by future technological development).

"CoinRaces Token" means a cryptographic digital token and a software-created and released by CoinRaces Operators. CoinRaces Tokens grant Users access to specific features and services offered by CoinRaces.

“Content” means all contents of the CoinRaces Interface and software applications, including any logos, identifying marks, images, illustrations, designs, icons, photographs, videos, text and other written and multimedia materials, and requirement, product, services, advertising material, software, code as well as any data, ﬁles, archives, folders or downloads made available by CoinRaces.

“Digital Assets" means TON and other crypto assets and/or cryptographic tokens which are utilised through or compatible with the CoinRaces Interface.

"Fiat" or "Fiat Currency" means government issued currency that is designated as legal tender in its country of issuance through government decree, regulation or law.

"Prize Pool" means the indicated total value of digital assets that have been staked collectively by Users in a single prediction game governed by a Protocol and accessed through the CoinRaces Interface in accordance with these Terms and subject to revision at any time at the sole discretion of CoinRaces.

"KYC" means ‘Know Your Client’ identification and verification procedures as required by Applicable Laws.

"Retail Prohibited Jurisdictions" means Afghanistan, American Samoa, Angola, Anguilla, Antigua and Barbuda, Belarus, British Virgin Islands, Canada, Cayman Islands, Central African Republic, Cuba, Democratic People's Republic of Korea (North Korea), DRC (Congo), Eritrea, Ethiopia, Fiji, , Guinea-Bissau, Guam, Haiti, Iran, Iraq, Kyrgyzstan, Lebanon, Liberia, Libya, Mali, Myanmar, Nicaragua, Palau, Palestine, Panama, Russian Federation, Rwanda, Samoa, Seychelles, Sierra Leone, Somalia, South Sudan, Sudan, Syria, Trinidad and Tobago, United States of America (as well as its residents), United States Minor Outlying Islands, US Virgin Islands, Vanuatu, Venezuela (Bolivarian Republic of Venezuela), Yemen and Zimbabwe.

"Stablecoins" means coins that are issued and are declared as backed (pegged) against deposited Fiat Currency at an equivalent rate of 1:1. Stablecoins include for example Tether ("USDT") or a cryptocurrency with a value pegged to the U.S. dollar and USD Coin ("USDC"), and other Stablecoins compatible with the CoinRaces Interface.

"Smart Contract" means a digital contract stored on a blockchain that is automatically executed when predetermined terms and conditions are met.

"Specified Service" means any CoinRaces Service specified in a Service Schedule.

"Third Party Service Provider" means a third party selected by CoinRaces and retained to act on our behalf to provide, or to assist us in providing, the CoinRaces Services.

4. General Provisions

Contractual Relationship

These Terms constitute a legal and binding agreement between you and CoinRaces. The binding obligations stipulated in these Terms are valid and enforceable.

Supplementary Terms

Due to the rapid development of Digital Assets, these Terms between you and CoinRaces do not enumerate or cover all rights and obligations of each party, and do not guarantee full alignment with needs arising from future development. Therefore, the Privacy Policy, General Terms, Service Schedules, and all other agreements entered into separately between you and CoinRaces are deemed supplementary terms that are an integral part of these Terms and shall have the same legal effect. Your ongoing use of the CoinRaces Services shall be deemed by us to be your acceptance of the above supplementary terms.

Revision and Amendments

CoinRaces reserves the right to revise, amend or update any provisions stipulated in these Terms in its sole discretion at any time. CoinRaces will notify such revision by updating these Terms and specify the 'Last Revised Date' displayed on the first page of these Terms. Any and all revisions to these Terms shall become automatically effective upon publication on the CoinRaces Website and/or software applications or release to the Users. Therefore, your continued use of the CoinRaces Services shall be deemed your agreement to have read, understood, and accepted all revised provisions under these Terms. If you do not agree on any or all the revisions, you must immediately stop accessing or using the CoinRaces Services. You are encouraged to frequently and carefully review these Terms to ensure your understanding of these Terms that apply to your access to and use of the CoinRaces Services.

Privacy Policy

You acknowledge and conﬁrm that you have read, understood and agreed to CoinRaces privacy policy which sets out a summary of CoinRaces’ guidelines regarding the collection and use of personally identiﬁable information for the purpose of making the CoinRaces Services available to you.

The Use of Website (CoinRaces.io)

You will comply with the requirements of all Applicable Laws, these Terms and various guidelines of CoinRaces and will not use the website or its Content for any unlawful purpose.

You shall be responsible for obtaining the data network access necessary to use the website. Your network's data and rates and fees may apply if you access or use the website from a wireless-enabled device, and you shall be responsible for such rates and fees.

You shall be responsible for acquiring and updating compatible hardware or devices necessary to access and use the website and any updates thereto. In addition, the website may be subject to malfunction, maintenance and delays inherent in the use of the Internet and electronic communications.

You shall not upload any images, graphics, photographs, videos or content that is deemed unlawful, offensive, malicious, threatening, libellous, defamatory, obscene or otherwise objectionable or violates any party's intellectual property.

You shall be responsible for keeping your credential information, including your username and password, if required, to access the CoinRaces Services and/or a secure CoinRaces Account.

You shall not abuse, harass, threaten, impersonate, or intimidate other Users of the website.

You shall be solely responsible for your conduct and any content that you submit, post, and display on the website.

You shall not modify, adapt or hack the website or modify another website so as to imply that it is associated with the website falsely.

You shall not crawl, scrape, or otherwise cache any Content from the website including but not limited to user proﬁles, images, graphics and photographs. You shall agree not to use any automated data collection methods, data mining, robots, or scraping or any data gathering methods of any kind on the website.

You shall not create or submit unwanted comments or content to any Users of the website. You shall not transmit any malware, worms or viruses or any code of a destructive nature.

You shall not use the website or any of its Contents for advertising or soliciting, for any other commercial, political or religious purpose, or to compete, either directly or indirectly with CoinRaces.

If CoinRaces has reasonable grounds to believe and determine that you have engaged in any use of the website in breach of this Section, CoinRaces may address such breach through an appropriate sanction, in its sole and absolute discretion. Such sanction may include, but is not limited to, making a report to any government, law enforcement, or other authority, without providing any notice to you about any such report; and/or suspending or terminating your access to the CoinRaces Services. CoinRaces may, at its sole and absolute discretion, take any action it deems appropriate to comply with Applicable Laws or the laws of any other relevant jurisdiction. In addition, should your actions or inaction result in the imposition of economic costs to CoinRaces, you shall pay an amount to CoinRaces so as to render CoinRaces whole, including without limitation, the amount of taxes or penalties that might be imposed on CoinRaces.

Links to and from the Website

You may, through hypertext or other computer links, gain access from the website to websites operated by persons other than us. Such hyperlinks are provided for your convenience. A link to another website does not mean that we endorse or approve the content on that website or the operator of that website. You are solely responsible for determining the extent to which you may use or rely upon any content at any other websites which you have accessed from the CoinRaces website. We have no control over the content of these sites or resources and accept no reasonability for them or for any loss or damage that may arise from your use of them. We assume no responsibility for the use of, or inability to use, any third-party software or other materials on the website and shall have no liability whatsoever to any person or entity for their use of, or inability to use, any such third-party content.

Availability of the Website

As electronic services are subject to interruption or breakdown, access to the website is offered on an “as is” and “as available” basis only. We reserve the right to limit the availability of the website to any person, geographic area or jurisdiction we so desire and/or terminate your access to and use of the website, at any time and in our sole discretion. We may, at our sole discretion, impose limits or restrictions on the use you make of the website. Further, for commercial, security, technical, maintenance, legal or regulatory reasons, or due to any breach of these Terms or any of the terms of our Third-Party Service Providers, we may withdraw the website or your access to the website at any time and without notice to you.

Intellectual Property

All remarks, suggestions, ideas, materials or other information provided by you through this website will forever be our property. You acknowledge that you are responsible for any submissions provided through your username or password, and you, not us, have full responsibility for such submissions, including their accuracy, legality, reliability, appropriateness, originality and copyright. Notwithstanding the foregoing, we have the right to refuse to post, remove, edit or abridge any submission for any reason and to disclose any submission as we deem necessary, including without limitation, to achieve compliance with any applicable law, regulation, legal process or governmental request, all in our sole discretion.

Except the ownership that you retain of all copyright in data you upload and submit to the website, as between you and us, we own all present and future copyright, registered and unregistered trademarks, design rights, unregistered designs, database rights and all other present and future intellectual property rights and rights in the nature of intellectual property rights existing in or in relation to the website and CoinRaces.

If and to the extent that any such intellectual property rights vest in you by operation of law or otherwise, you agree to do any and all such acts and execute any and all such documents as we may reasonably request in order to assign such intellectual property rights back to us.

You grant us a world-wide, exclusive, royalty-free, non-terminable licence to use, copy, distribute, publish and transmit such data in any manner.

We do not warrant or represent that the Content of the website does not infringe the rights of any third-party.

You undertake that you shall not at any time if and after you have provided a unique username to us, divulge or communicate to any person (except to professional representatives or advisers or as may be required by law or any legal or regulatory authority) any conﬁdential information, and will use best endeavours to prevent the unauthorised publication or disclosure of any conﬁdential information, and will only use such conﬁdential information for the purposes of proposing, considering or making transactions through CoinRaces. Conﬁdential information for the purposes of this Section shall include all information in whatever form (including in visual, oral or electronic form) relating to us or any other User or business or an individual or a company that was previously a User, which is provided or disclosed through CoinRaces (or to any employees or agents) in connection with the use of CoinRaces.

Copyright and Trademarks

The website and its Content are our property or the property of our licensors and are protected by copyright, trademark, patent and other Applicable Laws.

You are permitted to download and print Content from the website solely for your own personal use or in the course of your business to the extent required to use the services provided on the website. Website Content must not be copied or reproduced, modiﬁed, redistributed, used or otherwise dealt with for any other reason without our express written consent.

Except where necessary for and incidental to personally viewing the website through your web browser, or as permitted by these Terms, no part of the website may be reproduced, stored (for any period of time) in an electronic or any other retrieval system, modiﬁed, adapted, uploaded to a third-party location, framed, performed in public, or transmitted, in any form by any process whatsoever, without our speciﬁc prior written consent.

5. CoinRaces Services & Account Eligibility

By using the CoinRaces services and/or applying for a CoinRaces Account where required, you represent and warrant that:

You are at least 18 years old, have full legal capacity and sufﬁcient authorisation to enter into these Terms;
You are not a citizen or resident from the Retail User Prohibited Jurisdictions, and you do not have any relevant connection with any jurisdictions where we have prohibited our services and access to our website;
You have not been previously suspended or forbidden from using the CoinRaces Services; and
Your accessing or use of the CoinRaces Services shall not violate any Applicable Laws or regulations to you, including but not limited to, Anti-Money Laundering and Countering the Finance of Terrorism Acts, Anti-Money Laundering and Countering the Finance of Terrorism Regulations, Prevention of Terrorism Acts, Prevention of Proliferation Financing Regulations and other relevant international AML and CFT regulations.

Please note that some products and services may not be available in certain jurisdictions or regions or to certain users. CoinRaces reserves the right to change, modify or impose additional restrictions at its discretion at any time on a specific category of Users.

Services & Account Usage

CoinRaces Services and/or Accounts shall be used by account registrants and authorised persons only. In this regard, CoinRaces reserves the right to suspend, freeze, or cancel the access or use of the CoinRaces Services by any other persons other than the account registrant, whereby a registered account is required to access the Services. If you suspect or become aware of any unauthorised access or use of your username and password, you shall notify CoinRaces immediately. CoinRaces shall have no liability for any losses or damages arising from the access or use of CoinRaces Account by you or any third-party with or without your authorisation.

Prohibited Uses

CoinRaces maintains a policy of strict regulatory compliance. By using the CoinRaces Interface, you agree that you will not transact in Digital Assets connected with the following: (i) "mixing" services which attempt to obfuscate the source of funds; (ii) peer-to-peer and other exchanges which do not perform KYC screening as part of their onboarding process; (iii) and (iv) any amount of funds known to belong to darknet marketplaces.

CoinRaces retains the right to suspend your access to our Services, freeze and/or close accounts whereby users have competed a registration and request that Users cease to utilise the CoinRaces Interface. Please note that any attempt to circumvent these policies will also result in similar action.

Account Security

CoinRaces has been committed to maintaining the security of its Interface and Services and has implemented industry standard protection for the CoinRaces Services. Protocols accessed through the Interface, use Smart Contracts where possible to automate security and governance of Staked assets. However, the actions of individual Users may pose risks. You shall agree to treat your access credentials (such as username and password, whereby one has been provided) as conﬁdential information, and not disclose such information to any third-party. You also agree to be solely responsible for taking the necessary security measures to protect your use of the CoinRaces Interface and Services and personal information.

CoinRaces assumes no liability for any loss or consequences caused by authorised or unauthorised use of your account credentials, whereby these are required to utilise the CoinRaces Interface and/or Services, including but not limited to information disclosure, information release, consent or submission of various rules and agreements by clicking on the website, and online agreement renewal.

By using the CoinRaces Interface and Services, you hereby agree that: (i) you will notify CoinRaces immediately if you are aware of any unauthorised use of your CoinRaces Account and password or any other violation of security rules; (ii) you will strictly abide by all mechanisms or procedures of CoinRaces regarding security and authentication.

Personal Data

Your personal data will be properly protected and kept confidential in accordance with the terms of our Privacy Policy.

6. CoinRaces Services

The CoinRaces Interface provides a web or mobile-based means of access to decentralized protocols on various public blockchains, including but not limited to BNB chain and the TON network that allows users to stake certain digital assets in digital asset prediction games and/or access to the order contract; Supported Contracts (as defined below); decentralized applications; APIs; all software made available by CoinRaces to operate the Interface for blockchain-based assets (collectively, “Digital Assets”), including, without limitation, entering into contracts (“Contracts”) related to a specified event, occurrence, or value (collectively, the “Services”).

You may use the CoinRaces Services, including but not limited to access to prediction games, referral programs, rewards and loyalty schemes, acquiring market-related data, research and other information released by CoinRaces, participating in User activities held by CoinRaces, in accordance with the provisions of these Terms (including other individual agreements). CoinRaces has the right to:

provide, modify or terminate, in its discretion, any of the CoinRaces Services based on its development plan; and
allow or prohibit some Users’ use of any or all of the CoinRaces Services in accordance with relevant CoinRaces Interface Rules.

Our Services

Using the CoinRaces Interface, you can access various prediction gaming protocols, wherein you can: (i) enter into (staking) prediction game Prize Pools; (ii) be applicable to and qualify for loyalty and rewards schemes.

Forks and Airdrops

The underlying protocols of Digital Assets may be subject to substantial changes in their operating rules (these are called "Forks"), and these may alter the value or function of a Digital Asset and/or the CoinRaces Interface. A Fork may result in multiple versions of a Digital Asset, leading to volatility as one version becomes dominant over another, which may lose its value.

There may be distributions made to holders of a particular Digital Asset, for example of a new variant of a Digital Asset (this is called an "Airdrop").

We will assess at our sole discretion whether we will make changes and/or upgrades to CoinRaces software applications to support a Fork or Airdrop. If we support a Fork or Airdrop, we will make an announcement through the CoinRaces Website. If we do not support an Airdrop or Fork, we will not claim it for our own benefit whereby CoinRaces receives a distribution of the same and you acknowledge and agree that we will not claim it on your behalf either.

Representations and Warranties

By using the CoinRaces services, you represent and warrant to CoinRaces that:

The information provided by you to CoinRaces, including but not limited to regarding your place of residence whereby this data has been requested or is necessary to use the CoinRaces Services, is accurate and up-to-date;
You are using CoinRaces Services solely for your own personal purposes, and not on behalf of any other person or for business purposes outside the scope of these Terms and your business relationship with CoinRaces;
You are aware of, and can withstand, the risks involved in holding, using and trading digital assets, and you have read and understood our Risk Disclosure;
You are not using borrowed assets or assets of any third party for the purpose of using the CoinRaces Services;
You will be solely responsible for all tax reporting and payment obligations which may apply to you as a result of using the CoinRaces Services; and
Your use of the CoinRaces Services shall be at all times in full compliance with all laws and regulations applicable to you, and you shall not use it for any illegal purposes, including but not limited to activities involving financial crime, money laundering or terrorism financing, or the proceeds thereof.

Any breach of these representations and warranties by you shall constitute a breach of your agreement with CoinRaces and its Third-Party Service Providers, and may result in, among other legal action, the termination of your CoinRaces Account or access to the CoinRaces Services.

Non-Custodial and No Fiduciary Duties

Each of the CoinRaces Service and Products is a purely non-custodial application, meaning we do not ever have custody, possession, or control of your digital assets at any time. It further means you are solely responsible for the custody of the cryptographic private keys to the digital asset wallets you hold, and you should never share your wallet credentials or seed phrase with anyone. We accept no responsibility for, or liability to you, in connection with your use of a wallet and make no representations or warranties regarding how any of our Products will operate with any specific wallet. Likewise, you are solely responsible for any associated wallet, and we are not liable for any acts or omissions by you in connection with or as a result of your wallet being compromised.

This Agreement is not intended to, and does not, create or impose any fiduciary duties on us. To the fullest extent permitted by law, you acknowledge and agree that we owe no fiduciary duties or liabilities to you or any other party, and that to the extent any such duties or liabilities may exist at law or in equity, those duties and liabilities are hereby irrevocably disclaimed, waived, and eliminated. You further agree that the only duties and obligations that we owe you are those set out expressly in this Agreement.

You bear full responsibility for verifying the identity, legitimacy, and authenticity of Protocols that you access through the CoinRaces Interface or that you purchase from third-party sellers or service providers, and we make no claims about the identity, legitimacy, functionality, or authenticity of users of such Protocols accessed through the CoinRaces Interface.

All information provided in connection with your access and use of the CoinRaces Website, Interface and Services is for informational purposes only and should not be construed as professional advice. You should not take, or refrain from taking, any action based on any information contained on the Site or any other information that we make available at any time, including, without limitation, blog posts, articles, links to third-party content, discord content, news feeds, tutorials, social media content, and videos. Before you make any financial, legal, or other decisions involving the Services, you should seek independent professional advice from an individual who is licensed and qualified in the area for which such advice would be appropriate.

7. Representations and Warranties

You hereby agree to make the following representations and warranties to CoinRaces:

You are the exclusive owner of the Digital Assets you transact with through the CoinRaces Interface;
You validly undertake any actions or enter into any transaction with regard to these Terms;
You shall provide only accurate, complete, and up-to-date information and documents, including but not limited to, identification documents issued by applicable government authorities, for the purpose of accessing or using the CoinRaces Services, whereby such information has been requested by CoinRaces;
You understand and are aware of risks associated with accessing or using the CoinRaces Interface & Services and you are fully liable for any liabilities derived from transacting in Digital Assets at your own risk;
You shall use the CoinRaces Services in good faith and shall not use the CoinRaces Services for the purpose of concealing, or disguising the origin or nature of the proceeds derived from illegal or criminal activities;
You declare you are aware that you are subject to tax regulation in your jurisdiction and are fully responsible for any ﬁlling/reporting and paying any tax as required by the Applicable Laws. CoinRaces shall not be responsible to compensate you for your tax obligations or advise you in relation to your tax issues. Any uncertainties and unpredictable matters in tax legislation with respect to Digital Assets may expose you to any unknown or unforeseeable tax implications associated with your holding of Digital Assets and the use of the CoinRaces Services, for which CoinRaces shall have no liability. Also, you shall hold CoinRaces harmless from any expenses and losses, resulting from the unknown or unforeseeable tax implications;
You shall not breach any terms stipulated in these Terms, and the Privacy Policy, or any Applicable Laws in any relevant jurisdictions;
You shall not interfere, intercept, or expropriate our network system, data, or information;
You shall not transmit, or upload any virus or other malicious software program, or try to gain unauthorised access to other accounts, websites, networks or systems relating to the CoinRaces Services;
You shall not decompile, reverse engineer, or disassemble any of our programs, systems or products, or in any way infringe our Intellectual Property rights;
You shall not cause or launch any programs or scripts for the purpose of scraping, indexing, surveying, or otherwise data mining any portion of any of our programs, systems or products;
You shall defend, indemnify, and hold harmless the CoinRaces Operators, each of their afﬁliates, and any other CoinRaces entity, each of their respective employees, ofﬁcers, directors, and representatives from and against any claims, damages, losses, liabilities, costs, and expenses (including reasonable attorney’s fees), arising out of or relating to any third-party claim concerning these Terms, or your use of the CoinRaces Services in violation of these Terms and Applicable Laws.

Each of these representations and warranties shall survive and continue to have full force and effect after the execution of these Terms. CoinRaces makes no representation, warranty, or guarantee to you of any kind. The CoinRaces Services are offered strictly on an as-is basis and, without limiting the generality of the foregoing, are offered without any representation as to merchantability or ﬁtness for any particular purpose.

8. Risk Disclosure

In addition to the risks noted in Section 2 above, the following gives further information on certain risks relating to Digital Assets and the CoinRaces Services.

We do not give any advice, warranty, guarantee or representation about the visibility of CoinRaces or the CoinRaces Services and if you are unsure as to whether CoinRaces is suitable or appropriate to you, you should ask an advisor to give you independent expert advice. We set out below some of the risks of using the CoinRaces Services. Whilst we might seek to mitigate these risks, we are not responsible for any loss to you if they materialise. By accessing or using the CoinRaces Services, you expressly acknowledge and assume the risks as follows:

General

CoinRaces does not provide any legal, tax or financial advice and you are strongly advised to obtain legal, tax and financial advice before using CoinRaces services. CoinRaces is not your bank, broker, intermediary, agent, or legal advisor and there is no ﬁduciary relationship or obligation to you in connection with any trades or decisions or activities affected by you using the CoinRaces Services.

No communication or information provided to you by CoinRaces is intended as or shall be considered or construed as investment advice, ﬁnancial advice, trading advice, legal advice, or any other sort of advice, and you shall be solely responsible for determining whether any service, trade, strategy or related transaction is appropriate for you according to your personal investment objectives, ﬁnancial circumstances and risk tolerance. You shall be solely responsible for any loss or liability therefrom.

Before utilising any service or making any transaction and/or investment decisions, you should conduct your own due diligence and consult with your independent ﬁnancial, legal or tax professionals. CoinRaces shall not be liable for the decisions you make to access or use the CoinRaces Services.

Regulatory Risk

The regulatory framework on Digital Assets and the CoinRaces Services is still developing and future regulatory changes may require us to make changes which could have an impact on our ability to provide the CoinRaces Services in the future.

CoinRaces Export Controls & Sanctions

The services provided by CoinRaces may be subject to international export controls and economic sanctions requirements including but not limited to the sanctions laws and regulations administered by the United Nations Security Council, the United States Department of Commerce’s Bureau of Industry and Security, the United States Department of the Treasury Office of Foreign Assets Control, the European Union’s Council of Europe, the United Kingdom’s HM Treasury and Singapore’s Monetary Authority (the "Sanctions Authorities") and all other applicable sanctions laws and regulations in all jurisdictions in which CoinRaces, or its customers, operates. By accessing or engaging the CoinRaces Services you represent, warrant, and agree that you will comply with those requirements.

Prohibited Use

In addition to CoinRaces’ Eligibility criteria as outlined in Section 5 above, you are not permitted to access any of the CoinRaces Services if:

You are a person or legal entity or are under the control of a person or legal entity, that is incorporated or established under the law of, or a national or resident of Iran, North Korea, Myanmar, Russia or any other country subject to comprehensive sanctions ("Sanctions Regime") imposed by Sanctions Authorities (as may be updated from time to time).
You are a person or legal entity subject to economic sanctions issued by Sanctions Authorities (a "Sanctioned Person").
You intend to transfer or facilitate the transfer of any acquired or stored Digital Assets, proceeds from participation in prediction games accessed through the CoinRaces Interface, Stablecoins or cryptocurrency Tokens directly, or indirectly, to a Sanctions Regime or Sanctioned Person.
You intend to use, export, re-export or transfer or facilitate the use, export, re-export or transfer of any CoinRaces intellectual property directly or indirectly, to a Sanctions Regime or Sanctioned Person.
You intend to use, transfer, or otherwise deal with Digital Assets, Stablecoins or cryptocurrency Tokens to, directly or indirectly, circumvent or facilitate the circumvention of Sanctions Regimes.

By accessing or engaging the CoinRaces Services you agree that CoinRaces may use your name and personal information, and/or non-custodial wallet address, whereby this has been provided to determine whether you or any transactions involving you are subject to economic sanctions under the Sanctions Authorities.

Conditional Use

CoinRaces retains the right, in its sole discretion, to monitor, review, investigate, suspend, restrict, freeze, withdraw, reject and/or cancel any of part of your access to the CoinRaces Services that CoinRaces deems, or suspects are in violation of any international export control laws and regulations or Sanctions Authorities.

CoinRaces further retains the right to block, restrict, freeze, reject, or otherwise restrict Services, funds and/or accounts belonging to or controlled by Sanctioned Persons. In the event that CoinRaces deems or suspects that your access/utilisation of the CoinRaces Services is in breach of any international export control laws or Sanctions Authorities, whether directly or indirectly, CoinRaces reserves the right to report any such breach, and may disclose any and all information relevant to a transaction, whether attempted or completed, to the applicable Sanctions Authority, and/or other governmental agencies as may be necessary. For the avoidance of doubt, CoinRaces reserves the right, in its sole discretion, to take any actions to cooperate with the aforementioned agencies in adherence with the Sanctions Authorities.

Cancellation

Your right to cancel your account or usage of the CoinRaces Services and/or an account is subject to applicable laws and sanctions which CoinRaces is required to comply with.

Third Party Service Providers

CoinRaces utilises Third Party Service Providers to perform or to assist us in providing the CoinRaces Services. You agree and understand that CoinRaces will not be liable to you for any loss or damage, of any sort incurred as the result of such dealings. You understand that your use of Third-Party Service Providers and your interactions with such third parties is at your own risk.

You acknowledge that we cannot guarantee, nor are we in any way responsible for, the acts or omissions of third parties including, without limitation, any Third-Party Service Provider or for the performance of their products or services that may relate or otherwise be relevant to the CoinRaces Services. Such products and services are made available (directly or indirectly) by such third parties, and we do not make any express or implied warranties or conditions, including quality, merchantability, fitness for a particular purpose, title and non-infringement. You expressly agree that we shall not be held liable for, and you assume the risk of any matters arising out of or relating to the actions and omissions of such third parties or their products and services.

Technical and System Failure

CoinRaces and/or its Third-Party Service Providers may experience system failures, unplanned interruptions in its network or services, hardware or software defects, security breaches or other causes that could adversely affect CoinRaces’ infrastructure network, which includes the website.

CoinRaces is unable to anticipate when there would be the occurrence of hacks, cyber-attacks, mining attacks, including but not limited to double-spend attacks, majority mining power attacks and selﬁsh-mining attacks, distributed denials of services or errors, vulnerabilities or defects in CoinRaces, Native Tokens, Users' accounts, or any technology, including but not limited to smart contract technology utilised by different Protocols. Also, CoinRaces is unable to detect these hacks as mentioned earlier, mining attacks, cyber-attacks, distributed denials of services errors, vulnerabilities or defects in a timely manner and does not have sufﬁcient resources to efﬁciently cope with multiple services incidents happening simultaneously or in rapid succession.

In addition, CoinRaces’ network or Services, including the CoinRaces Interface, could be disrupted by numerous events, including natural disasters, equipment breakdown, network connectivity downtime, power losses, or even intentional disruptions of its services, such as disruptions caused by software viruses or attacks by unauthorised users, some of which are beyond CoinRaces’ control.

Although CoinRaces has taken steps against malicious attacks on its appliances or its infrastructure, which are critical for the maintenance of the CoinRaces Interface, there can be no assurance that cyber-attacks, such as distributed denials of service, shall not be attempted in the future, and that CoinRaces’ enhanced security measures shall be effective. Any signiﬁcant breach of CoinRaces’ security measures or other disruptions resulting in a compromise of the usability, stability and security of CoinRaces’ network or Services, including the CoinRaces Interface, may adversely affect CoinRaces Native Tokens.

CoinRaces shall have no liability for any delay, error, interruption or failure to perform any obligation under these Terms where the delay or failure is directly or indirectly resulting from any causes beyond CoinRaces’ control, including but not limited to; acts of God, nature, court of government; failure or interruption in public or private telecommunication networks, communication channels or information system; acts or omission of acts of a party for whom we are not responsible; delay, failure or interruption in, or unavailability of, third-party services; and strikes, lockouts, employment disputes, wars, terrorist acts and riots.

You understand and agree that you use the CoinRaces Services at your own risk. This Section is not exhaustive and does not disclose all the risks associated with Digital Assets and the use of the CoinRaces Services. Therefore, you are recommended to carefully consider whether such use is suitable for you in light of your circumstances and financial position.

Limitation of Liability

Notwithstanding any provisions in these Terms, in no event, shall either Party be liable to the other for any type of incidental, special, exemplary, punitive, indirect or consequential damages, including but not limited to lost revenue, lost winnings, loss of your credential information (username and password), replacement goods, loss of technology, loss of data, or interruption of loss of use of service or equipment, even if such Party was advised of the possibility of such damages, and whether arising under a theory of contract, tort, strict liability or otherwise. CoinRaces shall also have no liability for your emergency and unforeseeable incidents related to your use of the CoinRaces Services such as stolen passwords or hacked accounts.

Neither we nor any of our agents shall be liable for (i) the management or performance of your Digital Assets (including any reduction in the value); and (ii) any taxes or duties payable in respect of your Digital Assets.

Except as expressly provided in these Terms, to the maximum extent permitted by any Applicable Laws, we disclaim all other representations or warranties, express or implied, made to you, your afﬁliates or any other person, including without limitation any warranties regarding the quality, suitability, merchantability, ﬁtness for a particular purpose or otherwise (regardless of any course of dealing, custom or usage of trade) of any service or any goods provided incidental to the CoinRaces Services under these Terms.

Our liabilities in respect of representations and warranties that are excluded under these Terms, at our option, is limited to any one of resupplying, replacing or repairing or paying the cost of the resupplying, replacement or repairing or paying the cost of resupplying the services in respect of which the breach occurred. In no event will our aggregate liability for any loss or damage arising in connection with the CoinRaces Services exceed any fees paid to CoinRaces for your use of the CoinRaces Services, if any, during the twelve (12) month period immediately preceding the event giving rise to the claim for liability. The foregoing limitations of liability shall apply to the fullest extent permitted by any Applicable Laws.

Indemnity

You irrevocably undertake to fully indemnify and hold harmless each of the CoinRaces Operators, CoinRaces Third Party Service Providers, and any other CoinRaces entities and each of their afﬁliates, contractors, licensors and their respective shareholders, ofﬁcers, directors, employees and agents and their respective successors, heirs and assigns, promptly upon demand at any time during your use of the CoinRaces Services, from and against any and all losses, claims, actions, proceedings, damages, demands, judgements, sums, liabilities, damages, costs, charges and expenses, including but not limited to, any reasonable attorney's fees, or penalties imposed by any regulatory authority, and reimbursements arising out of or related to the following situations:

Your use of, or conduct in accordance with the CoinRaces Services;
Your breach of or our enforcement of these Terms; and
Your violations of any Applicable Laws, regulation, or rights of any third party during your use of the CoinRaces Services.

If you are obligated to indemnify any of the CoinRaces Operators, its or their afﬁliates, contractors, licensors and their respective shareholders, ofﬁcers, directors, employees, any agent, Third Party Service Providers and their respective successors, heirs and assigns, CoinRaces shall have the right, in its sole discretion, to control any action or proceeding and to determine whether CoinRaces wishes to proceed, or settle, and if so, on what terms or provisions.

Conflicts and Disputes involving your Account

CoinRaces is not liable to you for third party claims on your account or for the use of the CoinRaces Services and CoinRaces may take any action authorised or permitted by these Terms and Applicable Laws without being liable to you, even if such action causes you to incur fees, expenses or damages.

If your account is subject to third party claims, or if CoinRaces receives conflicting instructions from authorised signatories of your account, or if CoinRaces becomes involved in or concerned with a dispute between you and an authorised signatory, CoinRaces has discretion to act as it sees fit, including but not limited to restricting your access to the CoinRaces Services and/or closing your CoinRaces Account, whereby you have registered as an account holder. In such event, you will be liable for all expenses and fees that CoinRaces incurs in connection with the conflict or dispute, including CoinRaces’ internal costs and legal costs, and CoinRaces may charge the costs to your CoinRaces Account where relevant and/or seek alternative means of recovery.

Account Suspension and Termination

These Terms shall be immediately terminated by either closing your CoinRaces Account and/or discontinuing your use of the CoinRaces Services. These Terms and the CoinRaces Services can be terminated with or without notice by CoinRaces if there are reasonable grounds to believe that you breach any terms or provisions stipulated in these Terms, Applicable Laws, or you do not comply with these Terms. Notwithstanding the forgoing, CoinRaces may, in its sole discretion and without liability to you, with or without prior notice and at any time, modify or discontinue, temporarily or permanently, any portion of the CoinRaces Services available to you.

The termination of these Terms shall not prevent CoinRaces from seeking any remedies from you in the case where you breach any terms or provisions before such termination.

Any of your ongoing obligations under these Terms, and the provisions regarding (i) CoinRaces’ Intellectual Property (ii) Indemnity (iii) Limitation of Liability and (iv) any other provisions designed to survive, will survive any termination or expiration of the Terms for any reason.

Notice/Announcement

Any notice required or made under these Terms from CoinRaces to you shall be considered validly received when addressed to your last contact information, including but not limited to the latest used email address, mailing address or phone number. Additionally, CoinRaces may provide notices through publishing on its website. You undertake to refer to these materials regularly and promptly. CoinRaces will not be held liable or responsible in any manner for compensation should you incur personal losses arising from ignorance or negligence of the announcements. Any notice required or made under these Terms by you to CoinRaces shall only be made through the CoinRaces Website Support section.

Conﬁdentiality

Subject to the Privacy Policy, you hereby expressly and irrevocably permit and authorise CoinRaces, its employees, and/or any other persons authorised by CoinRaces Operators to disclose all information provided by you to CoinRaces for any purposes stipulated in these Terms.

However, the conﬁdentiality obligation shall not apply to the followings:

any information which becomes generally known to the public, other than by reason of any wilful or negligent act or omission of CoinRaces or any of their respective representatives;
any information which is required to be disclosed according to any applicable law or any requirement of any competent governmental or statutory authority or according to rules or regulations of any relevant regulatory, administrative, or supervisory body (including but not limited to any relevant stock exchange or securities council); and
any information which is required to be disclosed according to any legal procedures issued by any courts or tribunals.

The obligations contained in this Section shall endure, even after the termination of your account and/or discontinuing use of the CoinRaces Services in accordance with and as permitted by the provisions of these Terms, within six (6) years after terminating your CoinRaces Account except and until any conﬁdential information enters the public domain.

9. Governing Law, Resolving Disputes, Arbitration and Class Action Waiver

Please read this Section carefully as it requires you to arbitrate disputes with us and it involves a waiver of certain rights to bring legal proceedings, including as a class action.

Governing Law

These terms, their subject matter and their formation, and any non-contractual obligations arising out of or in connection with them are governed by English Law.

Notice of Claim and Dispute Resolution Period

Please contact CoinRaces ﬁrst! CoinRaces wants to address your concerns without resorting to formal legal proceedings, if possible. If you have a dispute with CoinRaces, then you should contact CoinRaces and a case number will be assigned. CoinRaces will attempt to resolve your dispute internally as soon as possible. The parties agree to negotiate in good faith to resolve the dispute (which discussions shall remain conﬁdential and be subject to applicable rules protecting settlement discussions from use as evidence in any legal proceeding).

In the event the dispute cannot be resolved satisfactorily, and you wish to assert a legal claim against CoinRaces, then you agree to set forth the basis of such claim in writing in a "Notice of Claim", as a form of prior notice to CoinRaces. The Notice of Claim must (i) describe the nature and basis of the claim or dispute, (ii) set forth the speciﬁc relief sought, (iii) provide the original ticket number, and (iv) include the email address and or blockchain wallet address you used to register for or participated through to be deemed to have operated a CoinRaces Account and /or have utilised the CoinRaces Services. The Notice of Claim should be submitted via email or using a hyperlink provided in your correspondence with CoinRaces. After you have provided the Notice of Claim to CoinRaces, the dispute referenced in the Notice of Claim may be submitted by either CoinRaces or you to arbitration in accordance with the paragraph below.

For the avoidance of doubt, the submission of a dispute to CoinRaces for resolution internally and the delivery of a Notice of Claim to CoinRaces are prerequisites to commencement of an arbitration proceeding (or any other legal proceeding). During the arbitration, the amount of any settlement offer made by you or CoinRaces shall not be disclosed to the arbitrator.

Agreement to Arbitrate

You and CoinRaces Operators agree that, subject to the paragraph above, any dispute, claim, or controversy between you and CoinRaces arising in connection with or relating in any way to these Terms or to your relationship with CoinRaces (and/or CoinRaces Operators) as a user of the CoinRaces Services (whether based in contract, tort, statute, fraud, misrepresentation, or any other legal theory, and whether the claims arise during or after the termination of these Terms) will be determined by mandatory ﬁnal and binding individual (not class) arbitration.

You and CoinRaces further agree that the arbitrator shall have the exclusive power to rule on his or her own jurisdiction, including without limitation any objections with respect to the existence, scope or validity of the Agreement to Arbitrate, or to the arbitrability of any claim or counterclaim. Arbitration is more informal than a lawsuit in court. There is no judge or jury in arbitration and court review of an arbitration award is limited and there may be more limited discovery than in court.

The arbitrator must follow this agreement and can award the same damages and relief as a court (including, if applicable, attorney fees), except that the arbitrator may not award declaratory or injunctive relief beneﬁting anyone but the parties to the arbitration. The arbitration provisions set forth in this Section will survive termination of these Terms.

Arbitration Rules

The arbitration shall be subject to the Rules of Arbitration of the International Chamber of Commerce (the "ICC") then in force (the "ICC Rules"). The arbitration will be administered by the International Court of Arbitration of the ICC. Unless the parties agree otherwise, there shall be only one arbitrator appointed in accordance with the ICC Rules. Any arbitration will be conducted in the English language, unless otherwise required by a mandatory law of a member state of the European Union or any other jurisdiction. Regardless of the manner in which the arbitration is conducted, the arbitrator shall issue a reasoned written decision sufﬁcient to explain the essential ﬁndings and conclusions on which the decision and award, if any, are based. Judgment on any arbitral award may be given in any court having jurisdiction over the party (or over the assets of the party) against whom such an award is rendered.

Limitation Period

Any arbitration against CoinRaces Operators must be commenced by filing a request for arbitration within one-year starting from the date which the claimant first knows or reasonably should know of the act, omission or default giving rise to the claim, and if no claim has been filed within the one-year period then there shall be no right to any remedy for that claim. The one-year period includes the internal dispute procedure above. If the one-year limitation period to proceed with a claim is prohibited under the Applicable Law, then the claim must be asserted within the shortest time permitted by that Applicable Law.

Notice

The party who intends to seek arbitration after the expiration of the Dispute Resolution Period set forth in the limitation period paragraph above, must submit a request to the ICC in accordance with the ICC Rules. If we request arbitration against you, we will give you notice at the email address or mailing address you have provided. You agree that any notice sent to this email or mailing address shall be deemed effective for all purposes, including without limitation to determinations of adequacy of service. It is your obligation to ensure that the email address and/or mailing address on ﬁle with CoinRaces is up-to-date and accurate.

Seat of Arbitration

The seat of arbitration shall be Singapore and the location of any in-person hearing shall be Singapore, unless otherwise agreed to by the parties.

Governing law of Arbitration

The governing law of arbitration proceedings shall be English Law.

Confidentiality

The parties agree that the arbitration shall be kept conﬁdential. The existence of the arbitration, any non-public information provided in the arbitration, and any submissions, orders or awards made in the arbitration (together, the "Conﬁdential Information") shall not be disclosed to any non-party except the tribunal, the ICC, the parties, their counsel, experts, witnesses, accountants and auditors, insurers and reinsurers, and any other person necessary to the conduct of the arbitration. Notwithstanding the foregoing, a party may disclose Conﬁdential Information to the extent that disclosure may be required to fulfil a legal duty, protect or pursue a legal right, or enforce or challenge an award in bona fide legal proceedings. This confidentiality provision shall survive termination of these Terms and any arbitration brought pursuant to these Terms.

Class Action Waiver

You and CoinRaces agree that any claims relating to these Terms or to your relationship with CoinRaces as a user of the CoinRaces Services shall be brought against the other party in an arbitration on an individual basis only and not as a plaintiff or class member in a purported class or representative action. You and CoinRaces further agree to waive any right for such claims to be brought, heard, or arbitrated as a class, collective, representative, or private attorney general action, to the extent permissible by applicable law. Combining or consolidating individual arbitrations into a single arbitration is not permitted without the consent of all parties, including CoinRaces.

Modiﬁcations

CoinRaces reserves the right to update, modify, revise, suspend, or make any future changes to the agreement to arbitrate paragraph above regarding the parties’ Agreement to Arbitrate, subject to applicable law. You hereby consent and agree that it is your responsibility to ensure that your understanding of this Section is up to date. Subject to the applicable law, your continued use of your CoinRaces Account shall be deemed to be your acceptance of any modiﬁcations regarding the parties’ Agreement to Arbitrate. You agree that if you object to the modiﬁcations to this Section, CoinRaces may block access to your CoinRaces Account pending closure of your CoinRaces Account. In such circumstances, the Terms of Conditions prior to modiﬁcation shall remain in full force and effect pending closure of your CoinRaces Account.

10. Miscellaneous

Severability

If any provisions of these terms are found by the court of competent authorities to be invalid, void, unlawful or unenforceable under any applicable law, such unenforceability or invalidity shall not render these Terms unenforceable or invalid as a whole, and such provisions shall be deleted without affecting the remaining provisions herein.

Force Majeure

CoinRaces will not be liable for any delay or failure to perform as required by these Terms because of any cause or condition beyond CoinRaces’ reasonable control.

Variation of Terms

We reserve the right to modify or amend these Terms, the website or any Content on the website from time to time, including for security, legal or regulatory reasons, to reﬂect updates or changes to the service or functionality of the website. You are advised to check these Terms periodically to ensure that you are aware of and are complying with the current versions. Changes are binding on users of the website and will take effect immediately from posting of the revised documentation on the website. You agree to be bound by such variation and your continued use of the website, tools and information made available shall constitute your acceptance of such variation.

CoinRaces Operators

Under these Terms, CoinRaces Operators may change as CoinRaces’ business adjusts, in which case, the changed Operators shall perform their obligations under these Terms with you and provide services to you, and such change does not affect your rights and interest under these Terms. Additionally, the scope of CoinRaces Operators may be expanded due to the provision of new CoinRaces Services, in which case, if you continue to use the CoinRaces Services, it is deemed that you have agreed to jointly execute these Terms with the newly added CoinRaces Operators. In case of a dispute, you shall determine the entity by which these Terms are performed with you and the counterparties of the dispute, depending on the specific circumstances you used and particular action that affects your right or interest.

Assignment

CoinRaces shall be allowed to assign, transfer, or subcontract its rights and/or obligations under these Terms without any notiﬁcation or consent. You shall not be permitted to assign, transfer, or subcontract any of your rights and/or obligations under these Terms.

Entire Agreement

These Terms, as amended from time to time, General Terms, Service Schedules, the Privacy Policy, any rules contained on CoinRaces software applications and all other agreements, constitute the sole and entire agreement between CoinRaces and you with respect to your use of the CoinRaces Services and supersede other prior or contemporaneous negotiations, discussions, agreements, understandings, representations, and warranties, both written and oral, between CoinRaces and you with respect to such subject matter.

No Third-Party Rights

Nothing in these Terms shall be deemed to create any rights in any creditors or other persons, not a party hereto, whether under the Contracts (Rights of Third Parties) Act 1999 or otherwise, and these Terms shall not be construed in any respect to be a contract in whole or in part for the beneﬁt of any third parties. Notwithstanding the foregoing, any CoinRaces Operator shall have the right rely on and enforce these Terms as if it were an original party hereto.

Electronic Signatures

You agree that you may tender your signatures to be binding with these Terms and use the CoinRaces Services by electronic means, such as by email or by an online e-signature platform. The parties agree that their digital signature or other forms of electronic acknowledgement, click-wrap agreement, consent, or acceptance, as the case may be constitutes their signature, acceptance, and agreement of these Terms and has the same force and effect as a signature afﬁxed by hand. Furthermore, you agree that by utilising the CoinRaces Services, you agree to be bound by these Terms.

Waiver

The failure of one party to require performance of any provision shall 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 of any provisions 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.