PumpX terms and condition of product and service




1.     General terms......................................................................................................................... 1

2.     Information about us and how to contact us........................................................................... 1

3.     Eligibility.................................................................................................................................. 2

4.     Access to our product............................................................................................................. 2

5.     Our product 1: Custodial wallet service.................................................................................. 3

6.     Our product 2: Compliant trading service............................................................................... 4

7.     Our product 3: Entrusted asset management........................................................................ 5

8.     Our rights to make changes of products................................................................................. 6

9.     Risks of Digital Assets............................................................................................................ 7

10.       Fees..................................................................................................................................... 7

11.       Intellectual Property............................................................................................................ 8

12.       User��s Representations and Warranties............................................................................. 9

13.       Suspension and Restriction................................................................................................ 9

14.       Indemnification and Limitation of Liability......................................................................... 10

15.       Dispute Resolution and Applicable Law........................................................................... 11

16.       Miscellaneous................................................................................................................... 12


Our terms

1.              General terms

1.1           What these terms cover. These are the terms and conditions on which we supply products to you, whether these are goods, services or digital content.

1.2           Why you should read them. Please read these terms carefully before you start using our products. These terms tell you who we are, how we will provide products to you, how you and we may change or end the contract, what to do if there is a problem and other important information. Please also read the terms of our Privacy Policy. If you think that there is a mistake in these, please contact us to discuss. By opening and using an Account of our service, you agree to comply with all of the terms and conditions in this Agreement, Privacy Policy, and any other agreements that apply to you.


2.              Information about us and how to contact us

2.1           What is PumpX. PumpX refers to an ecosystem comprising PumpX websites, mobile applications, clients and other applications that are developed to offer PumpX Services.

2.2           Who we are. We are operators of PumpX, including but not limited to legal entities, unincorporated organizations, and other teams that provide PumpX Services and are responsible for such services, Mainly the INITIAL BLOCKCHAIN TECH PTE., LTD registered in Singapore. For convenience, unless otherwise stated, references to ��PumpX�� and ��we�� in these Terms specifically mean PumpX Operators. Under these terms, PumpX operators may change as PumpX 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 interests under these terms. Additionally, the scope of PumpX operators may be expanded due to the provision of new PumpX Services, in which case, if you continue to use PumpX services, it is deemed that you have agreed to jointly execute these terms with the newly added PumpX operators.

2.3           How to contact us. You can contact us by telephoning our customer service team at +44 (0) 7803785431or by writing to us at [email protected]

2.4           How we may contact you. If we have to contact you, we will do so by telephone or by writing to you at the email address or postal address you provided to us.

2.5           "Writing" includes emails. When we use the words "writing" or "written" in these terms, this includes emails.


3.              Eligibility

3.1           General requirement. By using our Services and entering into this Agreement, you affirm that you are an individual, at least 18 years of age or older, have the capacity to enter into this Agreement and agree to be legally bound by the terms and conditions of this Agreement, including the Privacy Policy and Terms and Conditions when applicable.

3.2           Prohibited Jurisdictions. You should not in, under control of, or a resident of Afghanistan, Algeria, Bangladesh, Bolivia, China Mainland, Cuba, Egypt, Iran, Morocco, Nepal, North Korea, Syria, and Ontario of Canada (each a ����Prohibited Jurisdiction). Also, you should not supply any acquired or stored digital asset or Service to a Prohibited Jurisdiction, or resident of a Prohibited Jurisdiction.

3.3           Prohibited Person. You should not be a person on the economic sanctions lists as published from time to time by applicable authorities. Also, you should not supply any acquired or stored digital asset or Service to a Prohibited Person.

3.4           Discretion of decision. We may cancel and/or suspend your Account and/or block transactions immediately, with or without notice, in the event a state, province, territory or country becomes a Prohibited Jurisdiction, or we determine, in our sole discretion, that you do not meet the eligibility requirements set forth in the Agreement.


4.              Access to our product

4.1           Create an AccountIn order to use the Services, you must create an Account. You will be asked to provide certain registration details and information that identifies each person who opens an Account. We may, in our sole discretion, refuse to open an Account for anyone. We do not allow duplicate accounts to be opened by you and will open one and only one account per User. You agree not to circumvent any operational or technological measure that controls the number of accounts you can maintain with us. You will need a valid mobile number and email address to open an Account which may be required to be verified by us, and you must set up a password for your Account. You represent and warrant that you have full legal title and ownership of such mobile number or email address you provide to us, and that you will be solely responsible for the use of such mobile number or email address for the purpose of creating an Account.

4.2           Compliance. Your access to one or more Services may be contingent upon creating a user account and satisfying our onboarding processes as well as our Compliance Program. ��Compliance Program�� means the requirements set by PumpX for collecting, verifying, recording and reporting information about you, upon first accessing certain Services and on an ongoing basis, whether for our business risk-management purposes or to comply with legal requirements applicable to us. The information we request may include, without limitation, personally identifiable information such as network address, name, email, address, telephone number, date of birth, taxpayer identification or social security number, official government-issued photo identification, and bank account information or other information we may reasonably deem helpful in satisfying our risk management or legal obligations. In providing this information to us you represent that it is accurate and agree to update your information promptly, but in no event later than 14 days following any change in your information. Failure to provide information or update your user account promptly may result in Services being unavailable to you.

4.3           Limited License. By successfully creating an account, we grant you a limited, non-exclusive, non-transferable license to access and use the Services and the Site solely in accordance with the terms of this Agreement.

4.4           Credentials. You must keep secret all credentials associated with the Services. You are solely responsible for managing and maintaining the security of any information relating to such credentials and agree that PumpX shall not be held responsible (and you shall not hold us responsible) for any unauthorised access to the Services or any resulting harm you may suffer.

4.5           Third-Party Access. To the extent necessary for completion of service, you grant express permission to some third parties to access or connect to your Account, you acknowledge that granting permission to a third party to take specific actions on your behalf does not relieve you of any of your responsibilities under this Agreement. You are fully responsible for all acts or omissions of any third party with access to your Account. Further, you acknowledge and agree that you will not hold PumpX responsible for, and will indemnify PumpX from, any liability arising out of or related to any act or omission of such third party.

4.6           Delete your account. You have the right, under applicable regulations and requirements, to delete your account at your discretion. When you delete your account, you are no longer a client of PumpX and are no longer bound by this agreement, with the exception of articles 14,15, and 16. If you choose to do so, PumpX will delete your account and all related personal data associated with it, as well as cease providing any services to you. You would not be able to withdraw or retrieve any crypto assets in your account once you delete your account. Moreover, by deleting your account, you are making an irrevocable statement that you are relinquishing all of your data subject��s rights in relation to PumpX as your personal data controller.


5.              Our product 1: Custodial wallet service

5.1           DefinitionThe PumpX Wallet is a digital currency compliance transaction channel aggregation and custody platform. Upon verification of your identity, you may be provided the ability to transfer, track, store and trade supported digital assets by giving instructions through the Services. The digital assets that PumpX supports may change from time to time. Under no circumstances should you attempt to use your digital wallet services to transfer or store digital assets in any form that is not supported by PumpX.

5.2           Centralized isolated hosting. The PumpX Wallet team has realized users�� need to undertake different levels in the process of using. In order to avoid the fund control flaws of decentralized wallets, we only provide Centralized Custodial Account. You will be prepared multiple dedicated addresses to store digital type of digital assets from different sources.

5.3           Compliant source of digital assetsIn order to maintain the whole loop of transaction legally compliant, you cannot recharge your account from your own decentralized digital currency wallet or other source that are not recognized by us. You assume full responsibility and liability in any loss resulting from intentional or unintentional misuse of your digital wallet services.


6.              Our product 2: Compliant trading service

6.1           Definition. The digital currency compliance trading refers to the digital currency transaction consisting of investors and regulated and licensed payment institutions, brokerage service institutions and asset providers. PumpX provides users with One-click buying and selling of digital currency services. However, PumpX Wallet lies in its positioning as a drainage platform of compliant resource integration. We only provide one-stop compliant source recommendation and streamlined formalities. We do not actually act as main party of transaction, asset provider, payment service provider, broker, or clearing entity.

6.2           Third-parties. We may, in our sole discretion, choose the regulated and licensed external third parties as digital asset providers, digital assets counterparty exchanges, payment institutions and clearing service provider (each, an ��External Provider��) to complete the loop of out trading service. We promise each of these external providers is well compliant and licensed recently. While we will undertake measures to carefully select and engage external providers, PumpX does not guarantee the security or functionality of any external provider��s software or technology and is not responsible for any loss of digital asset due to the failure of the external Provider��s software or technology. Also, we do not guarantee our external providers will keep being licensed and compliant, or never commit any illegal activities. As a result, you may risk losing digital assets that have been placed with an external provider, and PumpX will not be liable you for such loss. Furthermore, no compensation shall be expected from PumpX operators under such circumstance.

6.3           Fiat trading. Fiat Trading refers to spot transactions in which digital assets are exchanged for fiat currencies or vice versa. Prior to conducting Fiat Trading, in accordance with type of fiat trading, you shall separately read and agree User Agreements with various PumpX partnered third-party OTC platforms and / or third-party payment providers and / or clearing providers, and comply with PumpX rules related to Fiat trading as well as the business rules of such partners. You shall complete the registration and identity verification for your PumpX account and PumpX��s partners account, before you may conduct Fiat Trading. If you choose to utilise the Fiat Trading, you agree that INITIAL BLOCKCHAIN TECH PTE., LTD shall be the main operator responsible for the transaction (including for the purpose of refunds and cancellations).

6.4           Crypto-crypto trading. By using the trading services, you may trade one digital asset with another digital asset at a price that is chosen or confirmed by you at your sole discretion. Once you place a purchase/sale order, we will make reasonable efforts to fulfil your order. You acknowledge that whether an order could be completed depends on various factors on the marketplace. Where an order is not completed, you may cancel the order, and we will return the digital assets that you placed for such order to your Account upon cancellation.

6.5           The right not to trade. We reserves the right to delay, cancel, reverse (to the extent possible) or refuse to process, any submitted Digital Asset Transaction, if: (i) required by law or regulations or in response to a subpoena, court order, or other government order or to enforce transaction limits; (ii) we suspect the transaction involves (or has a high risk of involvement in) money laundering, terrorist financing, fraud, or any other type of financial crime or illegal activity; (iii) we reasonably suspect that the transaction is erroneous; (iv) if we suspect the transaction relates to prohibited use or a prohibited business as set forth in this agreement; or (v) we suspect that you have breached any terms of this agreement. In such instances, we are under no obligation to allow you to reinstate a purchase or sale order at the same price or on the same terms as the delayed, cancelled, reversed or failed transaction.

6.6           Disclaimer of trading. PumpX does not guarantee that all orders will be completed and assumes no responsibility for any orders that are not completed. For the avoidance of doubt, under clause 6 of this agreement, we do not provide investment, tax, or legal advice, we do not broker trades on your behalf.


7.              Our product 3: Entrusted asset management

7.1           Definition. A User may, in his/her sole discretion, elect to use asset management products offered by the App or other forms of our service, as opposed to manually inputting orders to buy and sell digital assets. You will be required to fill in the trading orientations in order to use this service. By activating this service, you show your consent of commission to let selected third party asset management products providers to manage your digital assets in your custodial account.

7.2           Disclaimer of business. The asset management services are not directly provided or operated by us. The asset management services listed on the App or other forms of our service are provided by regulated third partiesPumpX��s role in this service is only aaggregate recommendation platform. After you choose the relevant asset management service, we will authorize the chosen third party (service provider) the access of your digital asset account and using those assets based on the product provider��s discretion. We will never directly use or manage your digital asset on our own behalf. By using this service, you agree that PumpX will never be responsible for any losses occur during you using the asset management services. Losses in this context including but not limited to the cause by fluctuation of digital assets, malfunction of third-parties�� system, hacker attack, breach of contract by any third-party, legal and policy changes, force majeure, etc.

7.3           Disclaimer of risk. We bear no responsibility for any loss that you may sustain from the trading activities you entrust any third parties to process based on the asset management products. By activating this service, you relieve all liability of us to indemnify any of your loss during the performance of entrusted asset management.


8.              Our rights to make changes of products

8.1           Minor changes to the products. We may change the product:

(a)        to reflect changes in relevant laws and regulatory requirements; and

(b)        to implement minor technical adjustments and improvements, for example to address a security threat. Although we will to the great extent not to affect your using of our service, these changes may affect your use of the product.

8.2           More significant changes to the products and these terms. In addition, as we informed you in the description of the product on our App or other forms of our service, we may make some substantial changes to the product, but if we do so we will notify you and you may then contact us to end the contract before the changes take effect. Continuously using the products after such changes is deemed as consent to all the changes of our products.

8.3           Updates to digital content. We may update or require you to update digital content and information, provided that the digital content and information shall always match the description of it that we provided to you before you use it.


9.              Risks of Digital Assets

9.1           General Risk. Please note that all transactions involving digital assets such as Bitcoin, Bitcoin Cash, and Ethereum involve substantial risks. You should therefore carefully consider whether using our Services is suitable for you in light of your financial condition. In considering whether to hold digital assets, you should be aware that the price or value of a digital asset can change rapidly, decrease, and potentially even fall to zero. Past performance is not an indicator of future performance. You acknowledge that we are not responsible for any loss of your digital asset, resulting from theft, loss, or mishandling of private keys outside our control. We are not responsible for any digital asset market and we make no representations or warranties concerning the real or perceived value of digital assets as denominated in any quoted currency. Although we may provide historical and/or real-time data regarding the price of digital assets, we make no representations regarding the quality, suitability, truth, usefulness, accuracy, or completeness of such data, and you should not rely on such data for any reason whatsoever. You understand and agree that the value of digital assets can be volatile, and we are not in any way responsible or liable for any losses you may incur by using or transferring digital assets in connection with our services.

9.2           Digital asset protocols. We use various blockchains and/or blockchain technology to process your digital asset transactions, for example, the Ethereum blockchain. All blockchains and/or blockchain technology may experience unintended events or consequences, including but not limited to backlogs, higher than normal transaction fees, changes to the network, failure, or forks in the protocol. We do not own or control any blockchain or blockchain technology, are not responsible for the operation of the blockchain network, and make no guarantee regarding the blockchain network��s security, functionality, or availability. You may suffer loss as a result of any such events or consequences, and we will not compensate you for such loss. You acknowledge and accept that we have sole discretion to determine our response to any operating change to any digital asset protocol and that we have no responsibility to assist you with unsupported currencies or protocols.


10.           Fees

10.1        General. We may charge you fees for use of any or all Services. You may view the fee schedule for specific services on the App or other forms of our service.

10.2        Fees for using custodial wallet. We Charge no fees for your using of our custodial wallet service.

10.3        Transaction feesWe don��t directly charge service fees for our compliant trading service. However, we will charge transaction fees on behalf of our external providers for the purpose of completion of your transactions. The fee is about 4.5% of the trading value, and is subjected to fluctuations in light of our external providers�� policy changes and changes to respective blockchain network.

10.4        Payment mothed. All fees will be clearly displayed and payable in digital assets. You authorize us to automatically deduct fees directly from your Account. We will calculate all applicable fees and show those fees when you authorize a transaction. If you owe any outstanding amounts to us, we reserve the right and you hereby authorize us to debit your account for such outstanding amounts.

10.5        Modification of fees. We reserve the right to change or modify our fee schedule or increase any of our fees at any time and from time to time. Any such changes, modifications or increases will be effective upon being posted on our App or other forms of our service. Your first use of your account following any changes to the fees posted on the App and other forms of our service will constitute your acceptance of such changes. If you do not agree to the posted changes, you may cease using the services as provided in this agreement.


11.           Intellectual Property

11.1        General. We respect the intellectual property of others and we ask our users to do the same. You acknowledge and agree that, with the exception of Materials released or anyway made available pursuant to public license agreements, open source, MIT, or other non-proprietary license schemes normally used by the PumpX, PumpX owns all copyrights, trademarks, know-how or any other intellectual property rights in respect of the App, software, text, video, audio, artwork, logos, layout as well as the look and feel pertaining to PumpX App and other forms of our service.

11.2        Limited use. You may view, print and/or download a copy of proprietary materials from PumpX services on any single mobile phone or computer solely for your personal, informational and/or non-commercial use, provided you comply with all copyright and other proprietary notices.

11.3        Trademarks. The trademarks, service marks and logos of PumpX and others used in the services (��Trademarks��) are the property of PumpX and their respective owners. It is strictly prohibited to use these trademarks without our express written authorisation or the express written authorisation of any third parties.


12.           User��s Representations and Warranties

12.1        You expressly representations and Warranties.  By using the service provided by us, you as user expressly represent and warrant:

(a)        You have the legal authority to enter into the agreement; and that you will use the App and services in accordance with our terms of use and fully perform all your obligations;

(b)        Your use of the services will be in compliance with all laws that are applicable to you based on your jurisdiction and that you will not use the Services for any criminal or illegal activities as defined by any applicable law;

(c)        You will use the Services only for yourself, and not on behalf of any third party.

(d)        You will not act in a manner that is defamatory, trade libelous, threatening or harassing; or threaten and/or harass our employees, agents or other;

(e)        You will only provide accurate, authentic, definite information to us;

(f)         You will not take any action that imposes an unreasonable or disproportionately large load on our software and systems (including any networks and servers used to provide any of the services) operated by us or on our behalf or the services;

(g)        You will not facilitate any viruses, trojan horses, malware, worms or other computer programming routines that attempts to or may damage, disrupt, corrupt, misuse, detrimentally interfere with, surreptitiously intercept or expropriate, or gain unauthorized access to any system, data, information or services of us.


13.           Suspension and Restriction

13.1        Suspension and restriction scenarios. Without limiting other remedies that may be available to us, we reserve the right, in our sole and absolute discretion, to limit or block access to or to suspend, deactivate or terminate your account, impose limitations on part or all actions with your account, discontinue the services, and/or freeze part or all digital assets in your account, anytime with or without notice to you, if:


(a)        We are so required by applicable law or regulation or a facially valid subpoena, court order, or binding order of a government authority;

(b)        We are unable to verify or authenticate any information you provide to us;

(c)        We reasonably suspect you of using your Account in connection with a restricted activity;

(d)        Use of your Account is subject to any pending litigation, investigation, or government proceeding and/or we perceive a heightened risk of legal or regulatory non-compliance associated with your Account activity;

(e)        Due to insolvency or bankruptcy;

(f)         We suspect your account is involved in (or has a high risk of involvement in) money laundering, terrorist financing or any other type of financial crime or illegal activity;

(g)        We believe that someone is attempting to gain unauthorized access to your account;

(h)        Your account has no digital assets and has not been accessed in the prior year.

13.2        Following Court order. If we are notified of a court order or other legal process affecting you, or if we otherwise believe we are required to do so in order to comply with applicable law or regulatory requirements, we do not have an obligation to contest or appeal any court order or legal process involving you or your Account. When we implement a freeze or limitation as a result of a court order, applicable law, regulatory requirement or other legal process, the freeze or limitation may remain in place as long as reasonably necessary as determined by us.


14.           Indemnification and Limitation of Liability

14.1        IndemnificationPlease note, you must indemnify us and our affiliates (including each entity that we control, we are controlled by or we are under common control with), and each of their respective directors, officers, employees, agents, joint ventures, service providers and suppliers for damages caused by actions related to your account and your use of the services. You agree to defend, indemnify and hold us harmless from any claim or demand (including reasonable legal fees) made or incurred by any third party due to or arising out of your breach of this Agreement.

14.2        Limitation of Liability. In no event shall PumpX and its affiliates and service providers, or any of their respective officers, directors, agents, employees or representatives, be liable for any lost profits or any special, incidental, indirect, intangible, or consequential damages, whether based in contract, tort, negligence, strict liability, or otherwise, arising out of or in connection with authorized or unauthorized use of the service, or this agreement, even if an authorized representative of PumpX has been advised of, knew of, or should have known of the possibility of such damages.  You may not recover for but not limited to lost profits, lost business opportunities, or other types of special, incidental, indirect, intangible or consequential damages. If some jurisdictions do not allow the exclusion or limitation of incidental or consequential damages, then the above limitation may not applicable to you. Under no circumstances shall we be required to deliver to you any virtual currency as damages, make specific performance or any other remedy. We shall not be liable for any damages caused in whole or in part by:

(a)        The malfunction, unexpected function or unintended function of any computer or crypto network;

(b)        The change in value of crypto assets;

(c)        Any change of law and policy;

(d)        Force majeure.




15.           Dispute Resolution and Applicable Law

15.1        Consultation and mediationIf disputes between you and us occur, we will try our best to address your dissatisfaction properly. You and us agree to notify each other in writing of any dispute within 30 days when it arises. Further, you and us agree to spend no less than 2 months on full communication, consultation and mediation before each party bringing the dispute in question to arbitral institution.

15.2        Applicable Law. This agreement is subjected to English Common Law, without regard to conflict of law provisions.

15.3        Pre-trial arbitration. If dispute in question cannot be resolved by consultation and mediation, you and us agree the dispute will be brought to the International Chamber of Commerce International Court of Arbitration (ICC) according to the ICC Rules of Arbitration in effect. The arbitration shall take place in London, unless otherwise agreed by the parties hereto.

15.4        Court trial. Except otherwise agreed by the parties, you agreed that any claim a you may have against us which is not resolved by arbitration must be resolved by a court located in the place where the defendant has his/her/its domicile or premises.


16.           Miscellaneous

16.1        Assignment. You may not transfer or assign any rights or obligations you have under this agreement without our prior written consent. We reserve the right to assign our rights without restriction, to any affiliate or subsidiary of us, or to any successor in interest of any business associated with the services. Any attempted transfer or assignment in violation hereof will be null and void. Subject to the foregoing, this agreement will bind and inure to the benefit of the parties, their successors and permitted assignees.

16.2        Relationship of the Parties. We are an independent contractor for all purposes. Nothing in this agreement will be deemed or is intended to be deemed; nor will it cause, you and us to be treated as partners, joint ventures, joint associates for profit, or as the agent of the other.


16.3        No waiver. Our failure to act with respect to a breach of any of your obligations under this User agreement by you or others does not waive our right to act with respect to subsequent or similar breaches.

16.4        Unclaimed Property. If we are holding digital assets in your account, and we are unable to contact you and has no record of your use of the services for an extended period, applicable law may require us to report such digital assets as unclaimed property to the applicable jurisdiction.

16.5        Entire Agreement. This agreement and the privacy policy constitutes the entire agreement among the parties with respect to the subject matter described herein and shall supersede all prior agreements and understandings, written or oral, among the parties. Subsequent discussions or negotiations between you and PumpX or PumpX personnel shall only amend or become part of this agreement by way of a written amendment specifically referencing the last updated date and name of this agreement.

16.6        Severability. If any provision of this Agreement is held to be invalid or unenforceable under any rule, law or regulation or any governmental agency, local, state, or federal, such provision shall be struck and the validity or enforceability of any other provision of this Agreement will not be affected.

16.7        Electronic Communications. You agree and consent to receive electronically all communications, agreements, documents, notices and disclosures that we provide in connection with your account and your use of the services. We will provide these communications to you by posting them through the App, emailing them to you at the primary email address listed in your profile, communicating to you via instant chat, and/or through other electronic communication such as text message or mobile push notification. You understand and agree that if we send you an electronic communication but you do not receive it because your primary email address on file is incorrect, out of date, blocked by your service provider, or you are otherwise unable to receive electronic communications, we will be deemed to have provided the Communication to you.

16.8        Terms in English. It is the express wish of the parties that these terms and any directly or indirectly related documents be drawn up in English. Any translation of this agreement is provided solely for your convenience and is not intended to modify the terms of this agreement. In the event of a conflict between the English version of this agreement and a version in a language other than English, the English version shall prevail.