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Blofin Copy Trading Service Agreement

  • Updated
1. Overview
 
1.1. This Blofin Copy Trading Service Agreement (hereinafter as the “Agreement”) is a contract between you (“you”, “your” or “User”) and Blofin Global (“we”, “our”, “us” or “Blofin”). It sets out the terms and conditions that governs your use of Copy Trading Services (the “Services”, "Service", or "Copy Trading Service") through blofin.com or any of our associated websites, application programming interfaces or mobile applications (collectively the "Platform"). Copy Trading Services is a service that allows one user (hereinafter the “Follower”) to copy trade(s) made by another user (hereinafter the “Trader”). The terms and conditions in this Agreement are to be read in conjunction with the Terms of Use and Privacy Policy. If the terms in this Agreement varies from that of the Terms of Use, Privacy Policy or such other agreement or publication pertaining to Blofin Copy Trading Services as may be published by Blofin from time to time (the “Legal Documents”), the terms in this Agreement shall prevail. Before you use our Copy Trading Services, you should carefully read and make sure you understand the provisions of this Agreement and the Terms.
 
1.2. By using the Services, you acknowledge that you have read, understood, and agree to be legally bound by the terms and conditions of this Agreement and the terms set out in the Legal Documents, including any revisions as may be published by us at any time and from time to time.
 
1.3. The Terms and any applicable User Agreements constitute the entire agreement and understanding regarding the use of any or all of the Services, and any manner of accessing them, between: You and Blofin, depending on your location, nationality, services used, and your level of KYC completed.
 
2. Eligibility of Using the Service
2.1 You acknowledge and agree that:
  • you have agreed to “Blofin Terms of Use”, and you are eligible for and not prohibited from using the “Services” defined therein;
  • this Agreement does not contradict with the laws of the country or region of your residence;
  • you are the legal owner of the Digital Assets you have deposited with the Service and aforesaid Digital Assets are obtained from legitimate sources;
  • you must be at least 18 years old, with full civil rights and civil capacity, and have all the necessary authorities and abilities to understand and execute this Agreement;
  • If you are registering to use the Service on behalf of a legal entity, in order to effectively accept this Agreement, you declare and guarantee that (i) such legal entity is legally established and valid in accordance with applicable laws; (ii) you are duly authorized by the legal entity to have the right to act on their behalf.
  • You have the experience and risk tolerance of using the service, and have the experience and knowledge to invest in non-guaranteed digital currency products;
  • In order to use the Service, you have the ability to perform operations on the Internet;
2.2 You are aware of and assume the risks of using the Service, which include but not limited to:
  • high price volatility of the Digital Assets and their derivatives could incur severe or total loss in a short period of time;
  • the insufficiency of Digital Assets deposited as margin or collateral could incur immediate liquidation of your Positions, and you could lose all Digital Assets you have deposited with the Service;
  • technology outrage could happen, which may delay or block your use of the Service;
  • market anomaly could happen, which may incur severe or total loss of your Digital Assets.
  • from time to time and at any time, in order to maintain the overall stability of the market, Blofin may need to add, remove, or change policies. Such action may be in favor or against an individual User.
2.3 You acknowledge and agree that:
  • You will not use the Service for any illegal purpose.
  • You will not initiate or facilitate any form of market manipulation.
  • You will not act in a manner which is contradictory to this Agreement, the Legal Documents, or other Blofin community values.
 
3. Copy Trading Service
 
3.1 Copy Trading
  • Blofin may provide you with the ability to interact, follow and copy other Traders and strategies by accessing and using the respective information, as well as providing you with detailed account information, trading histories, risk profiles, and other information in relation to Traders and strategies that may be useful to you when deciding whether to follow such Trader or strategy.
  • The Copy Trading Services are a trading functionality which may allow you to follow and/or monitor the account of other Traders. By placing a Copy Trading order, you authorise Blofin to automatically recreate the actions of the selected account for your Blofin account without any prior consultation, consent or approval from you. For example, Blofin may start the Copy Trading Service, stop the Copy Trading Service, and/or pause the copying of the respective Trader, account and/or strategy and set limits to any position, etc.
 
3.2 Blofin Copy Trading Services
Blofin offers Copy Trading Services which may allow you to choose to follow the orders of a respective participating Blofin Trader, account and/or strategy on the Platform and enter into Copy Trading.
 
3.3 Copy Trading Service Fees
  • When you place a trade under Copy Trading Services, we may charge you fees on the same or different basis or rates as those charged for the same type of trades and transactions on the Blofin Platform. In any case, we will charge you certain service fees ("Service Fees").
  • You hereby agree and authorise that Blofin shall have the right to deduct the Service Fees payable from the Digital Assets in your accounBlofinBlofin reserves the right not to provide the Services to you under these Terms.
 
3.4 Lead/Copied Trading
（1）Lead Trading
  • Any Blofin users who are familiar with trading may apply to be a trader (hereinafter as 'Trader') and obtain a share of profit from any order or trade being copied or followed by other users (hereinafter as 'Follower') under the Copy Trading Service. Blofin shall review the Trader application according to its internal policy and guidelines, and all decisions made to accept or reject an application shall be in the sole and absolute discretion of Blofin.
  • Once a user becomes a Trader, he/she shall process the trading at the normal interface of the Blofin Platform. If there is any order or trade which is placed after the Trader attaining his/her Trader qualification, any completion of such an order or trade shall trigger a notification sent to any user who has subscribed to Copy Trading Services and chosen to copy or follow the order or trade initiated by the respective Trader, and the user can then copy or follow the order or trade at the market value available to him/her.
  • A Trader can access the records of his/her orders and/or trades which have been copied or followed by other user(s) under the Copy Trading Services at the designated portal of the Blofin Platform.
  • The designated portal for the Copy Trading Services can show all the orders and transactions happened in a Trader’s account in detail or as a summary. On the Blofin Platform, a Trader can access details of every order or trade, and a brief summary of all the orders and/or trades.
  • Upon commencing his/her trading as a Trader, the Trader pre-set the limits of gains or losses for every order or trade to be conducted. To ensure the quality of any order or trade to be copied or followed, regardless of whether there shall be a gain or loss, or no gain or loss, recorded, a Trader is restricted from arbitrarily choosing the market value, and the quantity to be transacted shall be capped at the maximum value of the Digital Assets available at his/her account for the order or trade.
  • A Trader shall have certain restrictions on trading its Digital Assets when his/her activities have been designated to be copied or followed by other users.
  • A Trader has to strictly follow the requirements imposed by Blofin on any order or trade to be copied under the Copy Trading Services.
 
（2）Profit sharing to Trader
Blofin sets up a profit sharing scheme to incentivise Traders. A Trader obtains a certain percentage of profit sharing from any user subscribing to Copy Trading Services who copy(ies) or follow(s) the Trader's order or trade. Any user who copies or follows such order or trade of a Trader shall be obliged to share certain percentage of his/her gain obtained from such copied or followed order or trade with the Trader.
 
（3）Trader agrees and undertakes that:
  • He/she would not publish or circulate any false or misleading statement that may be detrimental to the goodwill and reputation of Blofin and/or its affiliates;
  • He/she would not conduct any false promotion or marketing activity to attract Copy Trading orders, including but not limited to, provision or guarantee of a stable profit return or gain;
  • Frequent daily transaction volume: if a Trader has more than a certain amount of orders or transactions in a single day (the 'Daily Transaction Threshold'), any users who wish to follow or copy the Trader's trade or orders shall only be allowed to do so for transactions within the Daily Transaction Threshold.
  • To protect the interest of any user copying or following the Trader’s orders or transactions, the Trader shall set up and maintain a personal profile. The Trader shall observe, inter alia, the following:
Personal avatar or nickname shall not consist of his/her contact information, and the Trader shall provide a machine-readable, commonly understandable English nickname;
A Trader profile shall not consist of any contact information, or any contents which may breach the local laws or regulations, detrimental or impair the Blofin Platform’s goodwill and reputation. The profile must contain any trading strategy or points to notes for any copied or Copy Trading.
 
（4）Trader acknowledges and agrees with the following risk management rules for trading:
 
  • Maliciously carrying orders
Any order that results in a loss for 7 consecutive days and exceeds 30% is determined to be a carry order;
Should the proportion of users who are forced to liquidate exceeds a certain percentage out of the total users who follow the corresponding orders, as determined by Blofin from time to time, the order order may be determined as a carry order
 
  • Maliciously swiping of handling fee
If a Trader with orders frequently opens positions, reaches the maximum number of orders per day for 7 consecutive days, and the transactions result in no obvious profit, and the number of users who copy orders reaches a certain proportion, Blofin may determine such circumstances to be fee-swiping behaviour.
 
  • Maliciously swiping of profit sharing
If the Follower of a Trader with a single trade always had a low income, but received more profit, Blofin will intervene in the screening and may determine that the user maliciously obtains the profit.
 
  • Maliciously swipe indicator data
Rate of return: If the rate of return exceeds the normal level and does not match the actual profit, it may be determined as malicious behaviour.
Winning rate: The user's winning rate has been maintained at a high level for a long time, and the income is abnormal, and the real trading strength does not match the winning rate, and the user may be determined to have been maliciously brushing the winning rate.
 
  • Other malicious behaviors which violate this Agreement, the Legal Documents, or applicable laws.
 
  • Penalties for malicious orders
If a Trader or Follower commits the aforesaid violations, depending on the seriousness of the circumstances, Blofin may, under its absolute sole discretion, assert certain penalties against him/her including, but not limited to, account foreclosure, order withdrawal, freezing of related funds, and restitution of illegally obtained funds.
 
（5）Responsibilities of Trader
  • Choosing to become a Trader is a user's personal choice, and does not constitute a contractual relationship between a Trader and Blofin as neither employees, partners, intermediaries, contractors, etc. Trader understands and confirms that he/she bears all the liabilities, responsibilities and risks that may be involved in becoming a Trader and Blofin does not assume any liability, responsibility, loss, and damages, whether as a direct or indirect consequence as a result of any behaviour of any Trader.
  • Trader agrees to abide by all applicable laws and regulations of any applicable jurisdiction. Trader shall bear all the corresponding liabilities and responsibilities for their actions as a Trader on Blofin Platform. In addition, a lead Trader undertakes not to violate the legal rights and interests of any user or any other third party. If Blofin suffers any loss or damage, regardless whether it being direct, indirect, special, consequential in nature, due to any behaviour of any Trader, Blofin has the sole and absolute right to claim against the Trader through any legal or other means.
 
3.5 Early Termination
 
（1）In the following cases, Blofin reserves the right to terminate this Service at any time under its absolute sole discretion if:
  • The service needs to be terminated as required by any applicable laws or regulations of relevant jurisdictions;
  • Due to Force Majeure and/or other unexpected events, Blofin cannot continue to perform and/or offer this Service;
  • Prohibited trading activities, including (i) manipulative or abusive trading activities, are being conducted or may be reasonably determined to be conducted; (ii) fraudulent of incorrect information has been provided or may be reasonably determined to be provided during the account opening process; or (iii) you have otherwise acted in bad faith.
  • Other circumstances that Blofin deems necessary to terminate this Service based on market conditions or any other related situations.
 
（2）We will take reasonable steps to monitor the performance of every Trader under the the Copy Trading Service, as well as the performance of the different trading strategies under the Copy Trading Service. We reserve the right to suspend, terminate, or disable, including without limitation: (a) any Trader from being followed under the Copy Trading Function; and (b) any trading strategy from being followed under the Copy Trading Function. In these cases, any open trades entered into as a result of Copy Trading Service or arising therefrom will be closed.
 
（3）We reserve the right to terminate the Copy Trading Services at our absolute sole discretion, including without limitation, if you no longer meet the criteria to receive the Services, if we feel that you are no longer appropriate to participate in the Copy Trading Service, or it is not feasible to provide the Services as a result of any Applicable Laws.
 
（4）If Blofin announces the early termination of this Service, we shall use our best endeavour to notify you, but we are not under any obligations to do so.
 
4. Limitation of Liabilities
4.1 Risk Disclosure
（1）YOU EXPRESSLY AGREE THAT YOUR USE OR NON-USE OF THIS SERVICE AND RELATED SERVICES ARE AT YOUR OWN RISK. EXCEPT AS EXPRESSLY PROVIDED TO THE CONTRARY UNDER THESE TERMS, THE SERVICES, ALL PRODUCTS AND SERVICES PROVIDED TO YOU THROUGH THIS SERVICE AND RELATED SERVICES PROVIDED TO YOU ARE STRICTLY OFFERED ON AN “AS IS” AND “AS AVAILABLE” BASIS, AND BLOFIN AND ITS AFFILIATES OR ITS SERVICE PROVIDERS OR SUPPLIERS MAKE NO REPRESENTATIONS, WARRANTIES, OR GUARANTEES TO YOU OF ANY KIND, EITHER EXPRESS OR IMPLIED, INCLUDING WITHOUT LIMITATION, MERCHANTABILITY, QUALITY OR FITNESS FOR A PARTICULAR PURPOSE, TITLE, OR NON-INFRINGEMENT, NO ERRORS OR OMISSIONS, CONTINUITY, ACCURACY, RELIABILITY OF THIS SERVICE. SOME JURISDICTIONS DO NOT ALLOW THE EXCLUSION OF IMPLIED WARRANTIES IN CONTRACTS, SO THE ABOVE EXCLUSION MAY NOT APPLY TO YOU. BLOFIN DOES NOT MAKE ANY UNDERTAKINGS AND/OR WARRANTIES FOR THE VALIDITY, ACCURACY, CORRECTNESS, RELIABILITY, QUALITY, STABILITY, COMPLETENESS OR TIMELINESS OF THE TECHNOLOGY AND INFORMATION IN CONNECTION WITH THIS SERVICE OR OTHER SERVICES PROVIDED BY BLOFIN.
（2）NOTHING IN THESE TERMS SHALL EXCLUDE OR LIMIT LIABILITY OF EITHER PARTY FOR FRAUD, DEATH OR BODILY INJURY CAUSED BY NEGLIGENCE, VIOLATION OF LAWS, OR ANY OTHER ACTIVITY THAT CANNOT BE LIMITED OR EXCLUDED BY APPLICABLE LAW OR REGULATIONS.
（3）Like any asset, the value of Digital Assets may fluctuate significantly, and there is a huge risk that users may incur economic losses when buying, selling, holding or investing in Digital Assets and other related transactions, even if your trading strategies are derived from the strategies of others, THERE IS SIGNIFICANT RISKS OF ECONOMIC LOSS AND NO GUARANTEE ON PROFITS. The choice to use and how to use the Services of the Platform is the user's personal decision, and the user shall bear any and all of the risks and potential losses. Blofin does not make any express or implied warranties regarding the market, value or price of Digital Assets. Users acknowledge and understand the instability of the Digital Asset market. The price and value of Digital Assets may fluctuate or collapse at any time. Trading digital assets is of the free choice and decision of users, and users shall solely bear their own risks and possible losses. Your use of this Service means that you confirm and agree: (1) You fully understand all of the risks associated with Digital Assets and related transactions; (2) You agree to solely bear any and all risks and losses associated with the use of these Services and engaging in any transactions involving digital assets; (3) Blofin shall not be responsible for any of these risks or losses or any other adverse consequences.
（4）Blofin, its affiliates, service providers or suppliers make no representations, warranties, or guarantees to you regarding the performance of any Trader, investment, account, portfolio, or strategBlofinBlofin, its affiliates, service providers or suppliers make no representations, warranties, or guarantees of the recurrence of past rates of return that have been made by a Trader or portfolio you choose to follow, and the profits (or losses) you make or incur may not match those of a Trader or portfolio you follow.
（5）Past performance, risk scores, statistics, and any other information with respect to our Platform’s Traders under or related to our Copy Trading Services, or of different portfolios and trading strategies under our Services are not reliable indicators of future performance.
（6）Blofin, its affiliates, service providers or suppliers make no representations, warranties, or guarantees that you will achieve profits or losses similar to those shown to a Trader or portfolio that you are or may be following.
（7）You understand and accept the risks in connection with the Copy Trading Services including without limitation, automatic trading operations, where your account may enter into and close transactions without your manual intervention; and the Services may fail or incur high costs due to latency. You shall be solely responsible for any and all losses arising from the automatic operations of the Social Trade Services.
（8）Blofin, its affiliates, service providers or suppliers shall not be liable for any losses arising from:
  • actions taken by us in order to carry out your instructions;
  • decisions or actions taken by Trader that you have chosen to copy and/or follow;
  • specific investment decisions or actions taken or omitted in good faith by any copied or followed account strategy or portfolio.
（9）Blofin cannot guarantee the authenticity, reliability, accuracy, completeness or validity of the content on the Platform, and shall not bear any legal liability arising therefrom. You shall solely rely on your independent judgment to conduct transactions, and you shall bear all responsibilities and/or losses that result or arise from your judgment and/or decisions.
（10）You understand and accept the risks that you may incur by using this Service, and the related losses that you may suffer as a result, including but not limited to:
  • If there is a Force Majeure event, or a Force Majeure event that may cause the price of Digital Assets to collapse, it may cause Blofin to fail to provide this Service to you and may cause severe and/or total loss of your Digital Assets;
  • Technical abnormalities may occur, which may delay or prevent you from using this Service or conducting related transactions, which may cause severe and/or total loss of your Digital Assets;
  • Market abnormalities may occur, which may cause severe and/or total loss of your Digital Assets;
  • In order to maintain the overall health of the market, Blofin may add, delete or modify the relevant provisions of these Terms, the policies, the terms and conditions or other related user agreements, service agreements or terms from time to time.
（11）You should use any information gathered from our Platform and/or the Copy Trading Services as a starting point for your own independent research and investment decision making. However, you should not make investment decisions on the basis of information provided on the Platform. You choose to use the Copy Trading Services at your sole discretion, and you decide to follow a specific Trader and/or a particular trading strategy at your sole discretion. In making these decisions, you have carefully and duly considered your overall financial situation, including without limitation, your financial plans, and understand that using the Service is highly speculative and risky, and you may suffer losses much more significant than the amount of Digital Assets you used to follow a respective Trader under the Copy Trading as a result of the following:
  • it may involve automated trading execution whereby trades are opened and closed in your account without your manual intervention;
  • if you manually modify or close an order generated by the Copy Trading Services, you may achieve a materially different result than the Trader that you followed;
  • trades that you attempt to copy in amounts lower than the minimum trade will not be opened;
  • if you are attempting to copy all trades which are currently open, we will open your position at the best available price at the time your request is received by the Platform and not the price at the time which the copied trade was originally opened;
  • the Trader, strategy, and/or portfolio you attempt to copy may make withdrawals during the same time that you are using the Copy Trading Services to attempt to copy their actions, and this may also generate a materially different result for you. This is due to a number of different factors, including but not limited to, starting account balance, minimum trade size, the user's account settings, differences in spread, interest and trading price at time of investment, and also the difference in fees that may be incurred;
  • following/copying the trading decisions of inexperienced and/or unprofessional Traders;
  • following/copying Traders whose ultimate purpose, intention, and/or financial status may differ from yours;
  • following/copying Traders who trade products restricted for you as a result of Applicable Law, and where a replacement equivalent trade cannot be executed may result in economic performance, portfolio composition, risk rating and other factors relating to your portfolio deviating from the portfolio of the copied Trader.
（12）You confirm that you fully understand the nature, risks and potential losses related to the Copy Trading Services. Before making an investment decision, you should exercise independent judgment and carefully consider using Copy Trading Services based on your own investment experience and capability, financial situation, investment objectives, investment period, willingness and ability to bear investment risks, the extent of your understanding of the nature and risks of this product, and other relevant circumstances. The aforementioned risks do not include all the risks and market conditions of your transactions related to this Service. If you have any questions or concerns, please seek advice from an independent financial advisor.
 
4.2 The trading market is volatile and may change rapidly in terms of liquidity, market and trading dynamics. You are fully responsible and liable for any and all trading and non-trading activities from your account used on or through Blofin. You acknowledge and agree that you are fully responsible for all your transactions and non-trading behaviors and omissions on or through Blofin, as well as all gains and losses resulting or arising from your use of this Service and any other services provided on Blofin Platform. You are responsible for any and all of your assets and liabilities in your Blofin Account, and you are responsible for all your financial activities and obligations on Blofin Platform. Blofin is not responsible for any and all losses arising from the Service and any other provided on the Blofin Platform and shall not assume any compensation or any other responsibility accordingly.
 
4.3 You agree and accept that the aggregate liability of Blofin shall not exceed the Service Fee Blofin received from you when this Agreement is terminated.
 
4.4 You agree and accept that Blofin reserves the right to amend the content of this Agreement any time and from time to time in its absolute sole discretion, with or without notice to you. You are advised to constantly review this document and any amendments thereto. Blofin shall not be liable for any losses arising from your misunderstanding of this Agreement, or your delay of reading the amendments to this Agreement.
 
4.5 You agree and accept that if the Blofin Platform cannot function properly or the Service is interrupted arising from the following conditions, such that you are unable to use the Services or cannot make commands or perform related trading operations, including but not limited to failure, delay, interruption, no system response, delayed system response or any other abnormal circumstance, Blofin and its affiliates shall not be liable for any losses or damages suffered by you, regardless of their nature. These circumstances include but are not limited to:
  • Service suspension for maintenance;
  • Hacker attack(s) on Blofin for purposes including but not limited to stealing user account passwords, secret keys, API key(s), and other information, that result in losses caused by illegal hacking into the sser’s accounts and / or illegal transfer of Digital Assets;
  • System failure to transmit data as a result of telecom equipment failures;
  • Force Majeure events or accidents, such as but not limited to typhoons, earthquakes, tsunamis, flooding, plagues, epidemics, power outages, war, turmoil, government actions, terrorist attacks and other acts by terrorists, government actions, and any other events that may lead to the suspension of Blofin and/or its Services;
  • Service interruption or delay arising from hacking, computer virus, technical adjustment or failure, website upgrades, banking issues, temporary closure arising from government regulations and any other reasons;
  • Service interruption or delay caused by Blofin Platform’s computer system being damaged, defective or unable to perform normally;
  • Losses arising from technical problems that cannot be predicted or solved by existing technical forces in the industry;
  • Losses suffered by you or other third parties arising from the fault or delay of the third party;
  • Losses suffered by you or other third parties arising from changes in Applicable Laws;
  • Losses suffered by you or other third parties arising from your failure to observe the terms of this Agreement and the Terms, including, but not limited to, circumstances where you have failed to properly safeguard your password, API key, and other security verification tools or authenticators.
  • Losses suffered by you or other third parties arising from force majeure events or accidents caused by other objectively unforeseeable, unavoidable and/or unsolvable circumstances.
  • Other losses not attributable to Blofin due to external uncontrollable events.
  • You agree and accept that the aforementioned reasons may lead to abnormal transactions, market interruptions and other possible abnormal circumstances, and Blofin reserves the right to refuse to execute your commands based on the actual circumstances. You understand and agree that Blofin shall not be liable for any of your losses (including but not limited to direct or indirect losses, special losses, consequential losses, actual losses, or loss of possible yield and other similar or related losses).
 
4.6 Software Protocols and Operational Challenges
  • Software protocols that underlie Digital Assets are typically open source projects, which means that: (i) the development and control of such Digital Assets are outside of Blofin's control, and (ii) such software protocols are subject to sudden and dramatic changes that may have a significant impact on the availability, ease of use, or value of a given Digital Asset. You also are aware of and accept the risks associated with any operational may experience sophisticated cyber attacks, unexpected surges in activity or other operational or technical difficulties that may cause interruptions to the Services. You understand that the Services may experience operational issues that lead to delays. You agree to accept the risk of transaction failure resulting from unanticipated or heightened technical difficulties, including those resulting from sophisticated attacks. You agree that Blofin shall not be responsible or liable for any related losses.
  • You understand and accept that the technology underlying Digital Assets is subject to change at any time, and such changes may affect your Digital Assets stored on our platform. You agree to be fully responsible for monitoring such technological changes and understanding their consequences for and regarding your Digital Assets. You shall conduct all trading and make all related decisions based on your own volition, and Blofin shall not be liable for any and all losses or damage incurred as a result of your use of any Services or your failure to understand the risks involved or associated with Digital Assets in general or your use of our Services.
 
4.7 You agree and accept that Blofin shall not be liable for any losses caused by the risks described in this section 4 (including but not limited to any direct or indirect losses, actual losses or possible loss of profits).
 
4.8 The aforementioned provisions do not indicate all the risks arising from or related to users' transactions through the Platform or all the conditions of the market. Before making any trading decisions, users shall undertake to fully understand the nature and risks of relevant Digital Assets; make cautious and prudent decisions based on their own trading objectives, risk tolerance, and financial conditions; and assume solely all risks and losses.
 
5. Indemnification
5.1 You shall take each and every possible step to protect Blofin and its affiliates from any damages or losses arising from your use of the Service or other actions related to your Blofin account; otherwise, you shall be liable to Blofin for any and all losses incurred as a result therefrom.
5.2 You hereby agree to release Blofin and its affiliates from, and hold harmless Blofin and its affiliate against, liability for any and all losses and damages, and you hereby agree to defend, indemnify and hold Blofin and its affiliates harmless from any claim or demand (including reasonable legal fees) made or incurred by any third party against Blofin arising from or arising out of your breach of this Agreement, your improper use of this Service, your violation of any laws or regulations of applicable jurisdiction(s) or the rights of a third party and/or the actions or inactions of any third party to whom you may grant permission to use your Blofin account or access our website, software, and/or system of Blofin (including any network and servers used to provide any of this Service) operated by us or on our behalf, or any of these Services on your behalf.
 
6. No Business, Legal, Financial or Tax Advice
You acknowledges and agrees that no information provided by Blofin, notwithstanding whether included in this Agreement or any other document or statement, shall be deemed as business, legal, financial or tax advice. The user may and should consult their own business, legal, financial or tax advisers regarding, especially, inter alia, the user’s particular opportunities, risks, obligations or further costs arising from the reception of and in connection with Digital Assets under this Service. Blofin is not your broker, dealer, agent or consultant. You acknowledges and agrees that for any transactions or other decisions or activities through which you use Blofin Service in any kind and in Anyway. Blofin does not have a fiduciary relationship with or fiduciary duty towards you. No communication or information provided by Blofin to you, notwithstanding whether included in this Agreement or any other document or statement, shall be deemed, considered or interpreted as investment, business, legal, financial, tax, trading, or any other type of advice. You shall determine whether any investment, investment strategy or related transaction is appropriate for you based on your personal investment objectives, financial condition and risk tolerance, and you shall be solely responsible for any and all Losses or liabilities. You are strongly recommended to consult your own business, legal, financial or tax advisors regarding especially, inter alia, your particular opportunities, risks, obligations or further costs arising from the use of Blofin Services in any way and of any kind. Blofin does not make any recommendations to you regarding whether to buy, acquire, sell, transfer or hold any Digital Assets. Before making a decision to buy, sell, transfer or hold any Digital Assets, you shall conduct due diligence and consult your own independent advisor. Blofin shall not be responsible for your decision to buy, sell, transfer or hold digital assets based on the information provided by Blofin.
 
7. Third Party Website Disclaimer
Any links of third party websites in Blofin Services do not mean that Blofin endorses any products, services, information and disclaimers provided therein, nor does Blofin guarantee the accuracy of the information contained therein. Blofin shall not be liable for any losses caused by your use of such third party products and services. In addition, Blofin has no control over the terms or privacy policies of third party websites. If you use the corresponding services or Services, you acknowledge and agree that you know, understand and agree to all the terms of service, privacy policy(-ies) and relevant transactional and operational rules (as amended from time to time) of the third parties. Blofin and each third party website are independent legal entities, and this Agreement shall not constitute any form of agency, partnership or cooperative relationship between the parties. Blofin and each third party websites shall be responsible for their respective claims, debts and disputes arising from the performance of their respective contracts and agreements.
 
8. Governing Law
This Agreement, your use of the Services, any claim, counterclaim or dispute of any kind or nature whatsoever arising out of this Agreement, directly or indirectly, shall be governed by, and construed in accordance with, the laws of England and Wales without regard to the principles of conflicts of laws thereof.
 
9. Jurisdiction and Dispute Resolution
9.1 You acknowledge and agree that in the event of any dispute, controversy, difference or claim, including the existence, validity, interpretation, performance, breach or termination of this Agreement or any dispute arising out of or relating to the Agreement (hereinafter as “Dispute”), the parties shall first negotiate in good faith through Blofin's Customer Service Team in accordance with Blofin.com's Term of Use. Should Dipute remain unsovled, you and Blofin agree to refer the Dispute to proceedings at the Chartered Institute of Arbitrators (hereinafter as “CIArb”) in accordance with CIArb's Mediation Rules in force for the time.
9.2 If the Dispute has not been settled upon the signing of a settlement agreement within ninety (90) days following the filing of a request for mediation set forth in Clause 9.1, such Dispute shall be referred to and finally resolved by arbitration administered by the CIArb) under the CIArb Arbitration Rules in force when the Notice of Arbitration is submitted. The law of this arbitration clause shall be the laws of England and Wales.
9.3 The number of arbitrators shall be one (1), mutually appointed by You and Blofin. Such arbitrators shall be freely selected, and the parties shall not be limited in their selection to any prescribed list. The arbitration proceedings shall be conducted in English.
9.4 You agree that Blofin shall not be required to give general discovery of documents, but may be required only to produce specific, identified documents which are relevant and material to the outcome of the Dispute.
9.5 Any arbitral award shall be final and binding upon the parties hereto and shall be enforceable in any competent court which has jurisdiction.
 
10. Miscellaneous
 
10.1 The contents of this Agreement also include Blofin's various system specifications, other agreements or rules in the connection with this Agreement, and other relevant agreements and rules regarding the Service that Blofin may issue from time to time. Once the aforementioned content is officially released, it shall become an integral part of this Agreement and the corresponding Legal Documents, and you shall also abide by it. In the event of any conflict between the aforementioned content and this Agreement, this Agreement shall prevail.
 
10.2 Blofin reserves the right to unilaterally modify this Agreement (including the aforementioned contents) if necessary. Such modification may happen at any time without prior notice. If any changes are made, the revised contents may be posted on the Blofin's website or other application of the Platform. Please regularly check the latest information posted therein to inform yourself of any changes. Your continued use of or access to the Service following the posting of any changes constitutes acceptance of those changes. If you do not accept the revised content, please stop using the Services.
 
10.3 You shall carefully read this Agreement and applicable Legal Documents. If there is anything that you do not understand in the Agreement and/or any document referred to herein, you should contact Blofin and seek clarification. Unless otherwise instructed by Blofin, any formal communication and document transfer between you and Blofin shall be undertaken through email. You may also be able to contact Blofin though online customer service portal as a form of informal communication. Any formal communication between you and Blofin should, unless otherwise agreed, be made in the English language. In the event of any discrepancy between the communication in English and that in a foreign language, the English version shall prevail. In the event of any discrepancy between any formal and/or informal communications and the Agreement, the Agreement shall prevail.
Please address emails to “Blofin” at the following email: support@blofin.com
 
10.4 If any provision of this Agreement is held by a judicial body with competent jurisdiction to be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not be affected or impaired in any way. However, if any provisions of this Agreement shall be invalid, illegal or unenforceable under any such applicable law in any jurisdiction, it shall, as to such jurisdiction, be deemed modified to conform to the minimum requirements of such law, or if for any reason it is not deemed so modified, it shall be invalid, illegal or unenforceable only to the extent of such invalidity, illegality or limitation on enforceability without affecting the remaining provisions of these Terms, or the validity, legality or enforceability of such provision in any other jurisdiction.
 
10.5 This Agreement is construed with, and governed by, the laws of England and Wales. Should any dispute arise between the parties, the parties shall negotiate bona fide privately through customer service channel identified under Clause 11.3, above. If the parties do not come to common understanding or settlement after going through bona fide negotiation, the parties hereby submit to the exclusive jurisdiction of the Chartered Institute of Arbitrators for Arbitration according to the then-current Arbitration Rules of the Chartered Institute of Arbitrators. The seat of arbitration shall be in England, the number of arbitrators shall be one, and the arbitration language shall be English. Arbitral Award shall be final and binding onto the parties.
 
10.6 No failure or delay by Blofin in exercising any right, power or remedy it is entitled to under this Agreement or by stipulation of law or regulation shall operate as a waiver thereof, nor shall any single or partial exercise thereof preclude any other or further exercise of such rights, power or remedies.
 
10.7 You shall not transfer, novate or assign these Terms, and the rights and obligations hereunder, in whole or in part, without the prior written consent of Blofin. Blofin has the right to transfer, novate or assign any rights or obligations under this Agreement by serving notice on you, which takes effect upon the delivery of such notice.
 
10.8 The headings of all this Agreement are for reading convenience only and have no actual meaning and shall not be used as a basis for interpretation of the meaning of these Terms.
 
10.9 If there is a discrepancy between the English version of these Terms and the translation of other languages version, the English version of these Terms shall prevail.
 
10.10 Blofin has the sole and final discretion of interpretation of this Agreement.

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