Terms of Service

These Terms of Service (the “Terms”) form a binding agreement between you and PallyX (“PallyX”, “we”, “us”) and govern your access to and use of the PallyX website, applications, and services (collectively, the “Platform”). By creating an account or using the Platform, you accept these Terms. If you do not agree, do not use the Platform.

You must be at least 18 years old and legally able to enter into contracts. Identity verification (KYC) is mandatory for all users: you cannot trade, convert, or withdraw until your identity has been verified. We screen users against applicable sanctions and watchlists.

The Platform is not available in restricted jurisdictions. We block access from certain countries and regions and may refuse or terminate service where we are prohibited from operating or where doing so would breach applicable law. You are responsible for ensuring your use is lawful where you are located.

PallyX is a peer-to-peer marketplace. Trades between buyers and sellers are protected by escrow: the seller’s crypto is locked at the start of a trade and released to the buyer only when the agreed conditions are met, or refunded if the trade is cancelled or expires. PallyX is a party to the custody and escrow arrangement but is not a party to the underlying commercial agreement between buyer and seller.

PallyX is a custodial service. Crypto assets you deposit are held in custody on your behalf through our custody provider. We maintain an internal ledger that records your balances. Custody does not transfer ownership of your assets to us, and we do not lend or rehypothecate your assets except as expressly permitted by these Terms and applicable law.

You are solely responsible for using the correct asset and network when depositing. Sending an unsupported asset, or using the wrong network, may result in permanent loss that we cannot recover. Withdrawals are subject to verification, AML/security review, available liquidity, network fees, and minimum amounts. In-app conversions are executed through a third-party liquidity provider at quoted rates that include our spread.

We charge fees for certain activity, including a marketplace fee on completed trades, a spread on conversions, and withdrawal fees (which include network costs). Applicable fees are shown before you confirm an action. We may update our fees; changes apply prospectively.

If a trade dispute arises, either party may open a dispute and submit evidence. PallyX moderators review the evidence and may release or refund escrowed funds based on the information available. Dispute decisions are made in good faith but are not a substitute for legal remedies you may have against the other party.

You may not use the Platform for money laundering, terrorist financing, fraud, sanctions evasion, or any unlawful purpose; to trade proceeds of crime; to circumvent our verification or geographic controls; or to interfere with the Platform’s security or operation. We may freeze accounts, hold funds, and report activity to authorities where required.

Crypto assets are volatile and trading carries significant risk, including total loss. Prices can change rapidly, transactions on public blockchains are generally irreversible, and counterparties may default. You trade at your own risk and should not transact with funds you cannot afford to lose.

The Platform is provided “as is” without warranties of any kind. To the maximum extent permitted by law, PallyX is not liable for indirect, incidental, or consequential damages, or for losses arising from counterparty conduct, network failures, or your own errors. Nothing in these Terms excludes liability that cannot lawfully be excluded.

We may suspend or terminate your access, or restrict features, if we reasonably believe you have breached these Terms or applicable law, or to comply with legal or regulatory obligations. You may close your account at any time after settling open trades and withdrawing your balances, subject to verification.

We may update these Terms from time to time. We will post the updated version with a new effective date and, where required, notify you. Continued use after changes take effect constitutes acceptance.

Questions about these Terms? Contact us at support@pallyx.com.