Terms of Use

1. ACCEPTANCE OF THESE TERMS

These Terms of Use ("Terms") are a binding agreement between you and Fraction AI Ltd., a company incorporated in the British Virgin Islands ("Fraction AI," "we," "us" or "our"). They govern your use of Index through the website at fractionai.xyz and the services you access through it (together, the "Services"). Your use of the Fraction AI mobile app is governed by the app version of these Terms at fractionai.xyz/terms-and-conditions/app. If you use the same account on both, each version applies to what you do through its own surface.

By creating an account, logging in or otherwise using the Services, you agree to these Terms and to our Privacy Policy. If you do not agree, do not use the Services.

We may update these Terms from time to time. We will post the new version here and change the date at the top. If you keep using the Services after an update, you accept the new Terms.

2. ELIGIBILITY AND RESTRICTED LOCATIONS

To use the Services you must:

• be at least 18 years old and able to enter into a binding contract;
• not be located in, or a resident of, a sanctioned country or region, or be named on a UN, US, UK or EU sanctions list;
• not be located in any place where using the Services is illegal.

Perpetual futures, including stock and commodity perpetuals, are not offered to citizens or residents of the United States, or to anyone located in the United States. Before you deposit funds into Perps or move funds from Tokens to Perps, you must confirm that you are not a US citizen or resident and are not located in the United States. By confirming, you accept that this statement is true and remains true while you use Perps.

You may not use a VPN or any other tool to get around these restrictions. We may limit, suspend or close any account we reasonably believe breaks these rules.

3. YOUR ACCOUNT AND WALLETS

You log in to Index through our wallet and login provider, Privy, using email or a supported social login. When you create an account, wallets are created for it through Privy. Your balances in Index are held in these wallets.

When you place a trade or order, or when an order you set (such as a limit order, take profit or stop loss) is triggered, our systems submit the transaction for your account. When a position is liquidated, the trading venue closes it under its own rules. You are responsible for every action taken through your account.

Keep your login details secure and tell us at once at info@fractionai.xyz if you think someone else has accessed your account. You may hold only one account. You may not sell, transfer or share your account. You can also paper trade as a guest without signing up.

4. THE SERVICES

Index lets you:

• Trade perpetual futures (Perps) on crypto, stocks and commodities, executed on Hyperliquid;
• Buy and sell tokens (Tokens) on supported blockchains, executed through third-party routing and swap services;
• Paper trade with simulated funds;
• Watch AI agents: trading agents that trade Perps on their own, with their past trades and results shown, and research agents that analyze price charts;
• deposit funds by crypto transfer or by card, withdraw funds, and move funds between Perps and Tokens.

We may add, change, limit or remove any feature, market or token at any time, with or without notice. Some features may not be available in every country.

5. PERPETUAL FUTURES

Perps are executed on Hyperliquid, a third-party decentralized exchange that we do not own or control. Prices, funding, margin requirements and liquidation rules are set by Hyperliquid. By trading Perps you accept that:

• leverage magnifies gains and losses, and you can lose all the margin you put into a position;
• positions can be liquidated automatically, quickly and without warning when prices move against you;
• market, limit, take profit and stop loss orders may fill at a different price than you expect, partly, or not at all;
• you pay or receive funding while a position is open, and the venue may close your positions, including profitable ones, through auto-deleveraging when a trader on the other side has lost more than their margin. Stock and commodity perpetuals are deployed on Hyperliquid by third parties, which set their own market rules;
• stock and commodity perpetuals are synthetic contracts that track a price. They do not give you any ownership of, or rights in, the underlying stock or commodity.

6. TOKENS

Token trades are routed through third-party swap and routing services and settled on public blockchains. Many tokens are new, thinly traded and extremely volatile, and some may be scams, may be impossible to sell, or may go to zero. A token appearing in Index is not an endorsement or a recommendation.

Trades can fail, be delayed or fill with slippage. Blockchain transactions cannot be reversed. Minimum order sizes apply and are shown before you trade.

7. PAPER TRADING

Paper trading uses simulated funds that have no value and cannot be withdrawn. Paper results do not reflect real fills, fees, slippage or liquidity, and do not predict how real trades will perform. Paper balances may be reset from time to time.

8. GRVT AND VAULTS

On the website, some features use GRVT as an additional perpetual futures venue, and let you deposit into third-party vaults and lending protocols such as Morpho, Euler, Silo, Yearn, Pendle and Avantis. These protocols are run by third parties. Yields are variable and not guaranteed, withdrawals can be delayed, and you can lose funds through smart contract bugs, exploits or failures of the protocol.

9. AI AGENTS AND NO ADVICE

Index shows two kinds of AI agents. Trading agents trade Perps on their own, and we show their trades and past results so you can judge them yourself. Research agents analyze price charts and show what they find. Neither kind tells you what to trade. On the website you can also chat with an AI assistant. AI output can be wrong, incomplete or out of date, and past results of any agent do not predict future results.

Nothing in the Services is financial, investment, legal or tax advice, or an offer or recommendation to buy or sell anything. We are not your broker, adviser or fiduciary. You alone decide whether to make a trade.

10. DEPOSITS, WITHDRAWALS AND TRANSFERS

Card deposits are provided by Crossmint and are subject to Crossmint's own terms. Crossmint and its identity verification partners may ask you to verify your identity before you can deposit.

When you deposit or withdraw crypto, check the network and address carefully. Funds sent to the wrong network or address may be lost for good. Withdrawals and transfers between Perps and Tokens depend on the blockchains and venues involved and may be delayed.

11. FEES

We charge fees on trades, including a fee on each Perps trade and a fee on each token swap. Venues, blockchains and payment providers may charge their own fees, such as exchange fees, funding, network gas and card fees. Fees are shown before you confirm an action. We may change our fees at any time; changes apply to actions taken after the change.

12. REWARDS, GOLD AND CHESTS

On the website you may earn Gold, open chests and unlock achievements ("Rewards"). Some chests pay out real USDC. For Rewards:

• Gold and achievements have no cash value and cannot be sold or transferred;
• chest odds and prizes are set by us and may change;
• we may change, pause or end any Reward at any time, and may cancel or reclaim Rewards obtained through abuse, multiple accounts, bugs or any breach of these Terms.

13. TOURNAMENTS AND LEADERBOARDS

The website runs trading tournaments with prizes paid in USDC. Each tournament's entry rules, eligible trades, ranking method and prizes are shown on the tournament page. Leaderboards are public and show your display name, avatar, profit and loss and rank.

We may change, pause or cancel a tournament, disqualify any participant we reasonably believe has broken the rules or these Terms, and withhold or reclaim prizes in that case. Our decision on rankings and prizes is final.

14. AMBASSADOR AND REFERRAL PROGRAM

On the website you can refer others to Index. Ambassadors earn a share of the builder fees generated by the Perps trades of users they refer: 20% to 35% depending on their tier, plus 5% on users referred by those users. Tiers, rates and payout rules are shown on the Ambassador page. Earnings are paid in USDC, with a minimum claim of $10.

You may not refer yourself, create accounts to refer, or use spam or misleading promotion. We may change or end the program, and may withhold or cancel earnings linked to abuse.

15. PROHIBITED USE

You agree not to:

• break any law, or use the Services to launder money, finance terrorism or evade sanctions;
• manipulate markets, including wash trading, spoofing or trading between your own accounts;
• create or use more than one account, or use someone else's account;
• exploit bugs, pricing errors or delays, or use bots or scripts we have not allowed;
• interfere with, attack, scrape or reverse engineer the Services;
• impersonate anyone or mislead others about your identity.

If you break these rules we may cancel or reverse affected activity where possible, suspend or close your account, and report you to the authorities.

16. RISKS

Crypto assets and derivatives are highly risky and you may lose all the money you use. In particular, you accept the risk of:

• extreme price swings and sudden loss of value;
• outages, errors or failures of Hyperliquid, routing services, blockchains, bridges or Privy;
• smart contract bugs, hacks and exploits;
• irreversible transactions and network congestion;
• changes in law or regulation that affect crypto or the Services.

17. THIRD-PARTY SERVICES

The Services rely on third parties, including Hyperliquid, Privy, Crossmint, token routing services, blockchain networks and data providers. We do not control them and are not responsible for their acts, failures or content. Your use of them may also be subject to their own terms.

18. INTELLECTUAL PROPERTY

The Services, including the Index and Fraction AI names, logos, software, design and content, belong to us or our licensors. We give you a limited, personal, non-transferable right to use the Services under these Terms. If you send us feedback, we may use it freely without paying you.

19. DISCLAIMER OF WARRANTIES

TO THE FULLEST EXTENT ALLOWED BY LAW, THE SERVICES ARE PROVIDED "AS IS" AND "AS AVAILABLE", WITHOUT WARRANTIES OF ANY KIND. WE DO NOT PROMISE THAT THE SERVICES WILL BE UNINTERRUPTED, ERROR FREE OR SECURE, OR THAT ANY PRICE, DATA OR AI OUTPUT IS ACCURATE.

20. LIMITATION OF LIABILITY

TO THE FULLEST EXTENT ALLOWED BY LAW, FRACTION AI AND ITS DIRECTORS, EMPLOYEES AND PARTNERS ARE NOT LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL OR CONSEQUENTIAL LOSS, OR FOR LOSS OF PROFITS, DATA OR FUNDS, ARISING FROM: TRADING LOSSES OR LIQUIDATIONS; FAILED, DELAYED OR PARTLY FILLED ORDERS; OUTAGES OF THE SERVICES OR OF ANY THIRD-PARTY VENUE, NETWORK OR PROVIDER; SMART CONTRACT FAILURES; OR UNAUTHORIZED ACCESS TO YOUR ACCOUNT.

OUR TOTAL LIABILITY TO YOU FOR ALL CLAIMS IS LIMITED TO THE GREATER OF THE FEES YOU PAID US IN THE 12 MONTHS BEFORE THE CLAIM AROSE, OR US$100.

21. INDEMNITY

You agree to compensate Fraction AI and its affiliates for any claims, losses and costs (including reasonable legal fees) arising from your use of the Services or your breach of these Terms or of any law.

22. TAXES

You are responsible for working out, reporting and paying any taxes on your activity on the Services.

23. SUSPENSION AND TERMINATION

We may suspend or close your account, or limit access to any feature, at any time if we reasonably believe you have broken these Terms or the law, or to protect you, other users or the Services. If we suspend or close your account, we may close your open positions and cancel your open orders.

You can delete your account at any time at fractionai.xyz/dapp/delete-account. You must withdraw your funds and close all positions and orders first. Sections that by their nature should survive, including risks, disclaimers, limitation of liability, indemnity and disputes, survive termination.

24. GOVERNING LAW AND DISPUTES

These Terms are governed by the laws of the British Virgin Islands. Any dispute arising from these Terms or the Services will be settled by binding arbitration under the rules of the BVI International Arbitration Centre, before one arbitrator, seated in Road Town, Tortola, in English.

You and we may bring claims only on an individual basis, not as part of a class or representative action. Any claim must be brought within one year after it arises, or it is permanently barred.

25. GENERAL

These Terms and our Privacy Policy are the entire agreement between you and us about your use of the Services through the website. If any part is found unenforceable, the rest stays in effect. Our failure to enforce a right is not a waiver of it. You may not transfer these Terms; we may transfer them, for example as part of a merger or sale. We are not liable for delays or failures caused by events beyond our reasonable control.

26. CONTACT

Questions about these Terms: info@fractionai.xyz
Fraction AI Ltd., British Virgin Islands