FAQ
Solus User Agreement
Last Updated: November 20, 2024
This User Agreement (the “Agreement”) constitutes a binding contract between you, the user (“you” or “your”), and Solus Finance Ltd. (“Solus”, “we”, “us”, or “our”). By accessing or using the Solus website located at app.solus.finance [VV1] (the “Site”) and any services, features, content, tools, or resources available through the Site (collectively the “Services”), you agree to be bound by the terms and conditions contained in this Agreement, as well as our Privacy Policy and Cookie Policy, which are incorporated herein by reference.
Services
1.1 Description of Services. Solus is crypto derivatives trading platform that aims to provide simplified, low risk and socially engaging trading of perpetual futures contracts on various supported cryptocurrencies and digital assets (collectively “Digital Assets”).
(a) Live Now
(b) Futures Perpetuals
1.2 Eligibility. To register for a Solus account (a “solus Account”) or utilize the Services, you must (a) be an individual at least eighteen (18) years of age; (b) have the legal capacity to enter into this Agreement; (c) reside in a jurisdiction where Solus is authorized to provide the Services; and (d) pass Solus’ onboarding identity verification and background screening procedures.
1.3 Restricted Locations. You may not use the Services if you are a resident of any jurisdiction where Solus is not authorized to provide the Services, including the Restricted Jurisdictions listed in the Restricted Jurisdictions Policy on the Site. It is your responsibility to ensure compliance with the laws of your jurisdiction.
1.4 Changes to Services. Solus reserves the right, at its sole discretion, to modify, suspend or discontinue, temporarily or permanently, the Services (or any part thereof) at any time and for any reason, with or without notice. You agree that Solus shall not be liable to you or any third party for any such modification, suspension or discontinuance.
Account Registration
2.1 Creating an Account. In order to access the Services, you must register for a Solus Account by providing your name, email address, and other requested information, and defining a password. You may also be required to provide further information for identity verification purposes, as described in Section 2.3.
2.2 Account Responsibility. You are fully responsible for all activity that occurs under your Solus Account. You must immediately notify Solus if you suspect any unauthorized use of your Solus Account. Although Solus will not be liable for your losses caused by any unauthorized use, you may be liable for our losses caused by any unauthorized use, you may be liable for our losses or the losses of others due to such unauthorized use.
2.3 Identity Verification. As a condition of using certain Services, you will be required to provide Solus with Personal Information, inter alia your name, address, telephone number, email address, date of birth, taxpayer identification number, government identification documents, and information regarding your bank account. This information is used for identity verification, fraud prevention, legal compliance, and other such purposes as described in our Privacy Policy. You represent and warrant that all Personal Information you provide is complete and accurate and you agree to update your Personal Information promptly if it changes.
2.4 Background Checks. You authorize Solus, directly or through third parties, to make any inquiries we consider necessary to verify your identity and/or protect against fraud, including but not limited to: (a) screening your Personal Information against third party databases; (b) requesting reports from consumer reporting agencies; and (c) assessing your Solus Account for risk or fraud. You further authorize any third parties to which such inquiries or requests may be directed to fully respond to such inquiries or requests.
Trading & Transactions
3.1 Placing Orders. To execute a trade (an “Order”), you must have sufficient funds in your Solus Account to cover the cost of the Order plus any associated fees. You are solely responsible for determining whether any investment, investment strategy or related transaction is appropriate for you based on your personal investment objectives, financial circumstances and risk tolerance. Solus does not provide investment, tax, or legal advice.
3.2 Order Execution. When you place an Order through the Services, Solus will attempt to fill the Order at the price you specified (a “Market Order”) or at the best available price, subject to market conditions. However, we do not guarantee that your Order will be filled, as Orders are subject to availability of sellers and market volatility.
3.3 Order Cancellation. Orders may not be canceled, reversed or changed once placed, except with respect to any Live Now product Orders that are placed for a future event start time. Solus reserves the right to reject or cancel any Order, or discontinue support for any Digital Asset, at any time and for any reason.
3.4 Fees. By placing an Order, you agree to pay all applicable fees, including trading fees, as stated in the Trading fee Schedule [VV2] available on the Site. Fees are subject to change at any time. Fees will be automatically deducted from your Solus Account at the time of the relevant transaction.
3.5 Staking. For certain supported Digital Assets, you may be able to earn rewards through staking, by authorizing Solus to stake those Digital Assets on your behalf (“Staking Rewards”). Staking Rewards are not guaranteed, are contingent on actual regards earned by Solus staking activities, and may be subject to a separate commission changed by Solus.
3.6 Title & Ownership. Title to any Digital Assets in your Solus Account shall at all times remain with you and shall not transfer to Solus, except as expressly provided herein. None of the Digital Assets in your Solus Account are the property of, or shall or maybe loaned to, Solus; Solus does not represent or treat assets in user accounts as belonging to Solus.
Hosted Wallets
4.1 Custody of Digital Assets. Any Digital Assets you purchase or deposit through the Services will be held in one or more Hosted Wallets, which are omnibus crypto wallets controlled by Solus. Solus shall track the balance and ownership of Digital Assets held in Hosted Wallets, and you can view the balance of Digital Assets in your Solus Account through the Site.
Fees & Settlement
5.1 Fees. By using the Services and placing Orders, you agree to pay all applicable fees, including:
(a) Trading fees for Orders, as provided in the Trading Fee Schedule on the Site;
(b) Withdrawal fees to transfer Digital Assets out of your Solus Account;
(c) Commissions on any Staking Rewards;
(d) Any other fees charged by Solus and disclosed to you prior to you using the relevant Service.
Solus may change its fees at any time and will provide notice of any fee changes by posting the updated Trading Fee Schedule on the Site or other notice to you.
5.2 Settlement. All debits and credits to your Solus Account, including without limitation Order fills, deposits, withdrawals, and fees, are settled in real time and will be reflected in your Solus Account balance upon completion of the relevant transaction.
5.3 Account Deficit. If for any reason your Solus Account has a negative balance (a “Deficit”), including due to your use of margin trading or because the market moved against your positions after your deposit was credited but before your Order was filled, you agree to pay the amount of the Deficit in full within 24 hours of demand by Solus.
User Obligations & Prohibited Activities
6.1 Compliance with Law. By using the Services, you agree to comply with all applicable laws, rules and regulations, including without limitation anti-money laundering (AML) and know-your-customer (KYC) requirements, and economic sanctions programs. Without limiting the foregoing, you may not use the Services in connection with any illegal or fraudulent activities.
6.2 Taxes. You are solely responsible for reporting and paying any taxes arising from your use of the Services, including without limitation any capital gains or income taxes. Solus will make any tax withholdings or filings that we are required by law to make, but Solus is not responsible for determining whether taxes apply to your transactions.
6.3 Unacceptable Use. You may not: (a) violate, breach or fail to comply with this Agreement or any other posted Solus policy; (b) provide false, inaccurate, incomplete or misleading information to Solus; (c) use the Site or Services in any way that infringes or violates the intellectual property or other rights of Solus or any other person; (d) use the Site or Services to transmit or upload any malicious code, viruses, worms, or other malware; (e) attempt to interfere with, disrupt or disable the proper working of the Site or Services, such as through making excessive API calls or DDoS attacks; (f) attempt to gain unauthorized access to Solus systems or any other user accounts; (g) use any robot, spider, crawler, scraper or other automated means or interface not provided by us to access the Site or Services or to extract data; (h) attempt to circumvent any content filtering techniques we employ; (i) use the Site or Services for benchmarking or to compile information for a product or service; (j) impersonate any person or entity, including Solus representatives, or falsely state or otherwise misrepresent your affiliation with any person or entity; or (k) encourage or induce any third party to engage in any of the activities prohibited under this Section 6.3.
6.4 Investigations. Solus reserves the right to investigate any suspected violations of this Agreement or the Services. You agree to cooperate fully with any such investigation, including by providing Solus or our designees with information or materials that are relevant to the investigation. Solus may share information related its investigations with law enforcement or appropriate regulatory authorities.
Proprietary Rights
7.1 Site Content. All content available through the Services, including designs, text, graphics, images, information, software, audio and other files, and their selection and arrangement (the “Site Content”), are the proprietary property of Solus or our licensors. No Site Content may be modified, copied, distributed, reproduced, republished, downloaded, scraped, displayed, posted, transmitted, sold in any form or by any means, in whole or in part, other than as expressly permitted in this Agreement. You may not use any data mining, robots, scraping or similar data gathering or extraction methods to obtain Site Content. As between you and Solus, all Site Content is licensed, not sold, to you.
7.2 Solus Logo & Trademarks. The “Solus” name and logo, and any product or service names, logos, slogans or taglines that may appear on the Site, are trademarks of Solus and may not be copied, imitated or used, in whole or in part, without our prior written permission.
7.3 Ownership of Digital Assets. Title to any Digital Assets in your Solus Account shall at all times remain with you and shall not transfer to Solus, except as expressly provided herein. You acknowledge that Solus does not own or control the underlying blockchain protocols which govern the operation of Digital Assets. The protocols are subject to sudden changes in operating rules which may impact the value and function of Digital Assets. Solus is not responsible for the operation of the protocols and disclaims any and all liability arising from such changes.
Data Collection & Privacy
8.1 Privacy Policy. Solus cares about your privacy. Please see our Privacy Policy to understand our data collection and usage practices. By agreeing to this Agreement or using our Services, you agree to the collection, use, storage and disclosure of your information as set forth in the Privacy Policy.
8.2 Background Checks. You authorize Solus, directly or through third parties, to make any inquiries we consider necessary to verify your identity and protect against fraud. This may include asking you for additional information, requiring you to take steps to confirm ownership of your email address or financial accounts, ordering a credit report, or verifying information you provide against third party databases or other sources. We may also screen your information against government watch lists and databases for KYC/AML or economic sanctions screening purposes. If we are unable to verify your identity, we reserve the rights to deny you use of the Services.
8.3 Transaction Data. Solus may analyze your transaction data in aggregate and on an anonymized basis in order to improve the Services. Further, Solus may share aggregated and anonymized transaction data with third parties for industry analysis, demographic profiling, marketing and other purposes.
Termination & Suspension
9.1 Termination by User. You may terminate this Agreement at any time by closing your Solus Account and discontinuing use of the Services. Termination will not affect any rights or obligations that arise prior to the termination.
9.2 Termination by Solus. Solus may terminate or suspend your access to the Services at any time and for any reason, including but not limited to, if we reasonably believe: (a) you have violated this Agreement or any Solus policy; (b) you create risk or possible legal exposure for Solus; (c) our provision of the Services to you is no longer commercially viable; (d) you have engaged in fraudulent or illegal activities. We will make reasonable efforts to notify you by the email address associated with your account or the next time you attempt to access your Solus Account.
9.3 Effect of Termination. Upon termination of this Agreement: (a) your access rights to the Services will terminate immediately; (b) you must immediately discontinue all use of the Site; (c) you remain liable for all amounts due to Solus through the date of termination; and (d) Sections 6.2 (Taxes), 7 (Proprietary Rights), 8 (Data Collection & Privacy), 9 (Termination), 10 (Disclaimer of Warranties), 11 (Limitation of Liability), 12 (Indemnity) and 13 (Governing Law; Arbitration) will survive.
Disclaimer of Warranties
THE SITE, SERVICES AND ANY PRODUCT, CONTENT OR INFORMATION ON THE SITE IS PROVIDED ON AN “AS IS” AND “AS AVAILABLE” BASIS WITHOUT ANY REPRESENTATION OR WARRANTY OF ANY KIND, WHETHER EXPRESS, IMPLIED OR STATUTORY. TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, SOLUS SPECIFICALLY DISCLAIMS ALL SUCH REPRESENTATIONS AND WARRANTIES, INCLUDING WITHOUT LIMITATION ANY IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NON-INFRINGEMENT. WITHOUT LIMITING THE GENERALITY OF THE FOREGOING, SOLUS DOES NOT REPRESENT OR WARRANT THAT THE SITE, THE SERVICES OR THE SITE CONTENT WILL BE ACCURATE, RELIABLE, ERROR-FREE, UNINTERRUPTED, OR FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS. SOME JURISDICTIONS DO NOT ALLOW THE DISCLAIMER OF IMPLIED WARRANTIES, SO SOME OF THE ABOVE DISCLAIMERS MAY NOT APPLY TO YOU.
THERE ARE RISKS ASSOCIATED WITH USING AN INTERNET-BASED TRADING SYSTEM INCLUDING, BUT NOT LIMITED TO, THE FAILURE OF HARDWARE, SOFTWARE, AND INTERNET CONNECTIONS. BECAUSE SOLUS DOES NOT CONTROL SIGNAL POWER, ITS RECEPTION OR ROUTING VIA INTERNET, CONFIGURATION OF YOUR EQUIPMENT OR RELIABILITY OF ITS CONNECTION, SOLUS CANNOT BE RESPONSIBLE FOR COMMUNICATION FAILURES, DISTORTIONS, DELAYS OR INABILITY TO TRADE WHEN YOU ARE ATTEMPTING TO TRADE VIA THE SERVICES.
EXCEPT AS EXPRESSLY PROVIDED HEREIN, SOLUS DISCLAIMS ANY REPRESENTATIONS OR WARRANTIES IN RESPECT OF THE DIGITAL ASSETS AVAILABLE ON OR THROUGH THE SERVICES, INCLUDING WITHOUT LIMITATION ANY REPRESENTATIONS OR WARRANTIES OF TITLE, NON-INFRINGEMENT, MARKETABILITY, TRANSFERABILITY, COMPATIBILITY, SECURITY OR SAFETY. TRANSACTIONS IN DIGITAL ASSETS MAY BE IRREVERSIBLE, AND, ACCORDINGLY, LOSSES DUE TO FRAUDULENT OR ACCIDENTAL TRANSACTIONS MAY NOT BE RECOVERABLE. SOLUS MAKES NO REPRESENTATION OR WARRANTY THAT THE DIGITAL ASSETS WILL MAINTAIN THEIR VALUE OR THAT THEY CAN BE SUCCESSFULLY EXCHANGED FOR FIAT CURRENCY.
Limitation of Liability
IN NO EVENT SHALL SOLUS, ITS AFFILIATES, LICENSORS OR SERVICE PROVIDERS, OR ANY OF THEIR RESPECTIVE OFFICERS, DIRECTORS, AGENTS, EMPLOYEES OR REPRESENTATIVES, BE LIABLE FOR: (A) ANY AMOUNT GREATER THAN THE VALUE OF THE SUPPORTED DIGITAL ASSET ON DEPOSIT IN YOUR SOLUS ACCOUNT, VALUED IN U.S. DOLLARS AT THE TIME OF THE TRANSACTION; OR (B) 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 ARISING OUT OF OR IN CONNECTION WITH AUTHORIZED OR UNAUTHORIZED USE OF THE SITE OR THE SERVICES, OR THIS AGREEMENT, EVEN IF AN AUTHORIZED REPRESENTATIVE OF SOL HAS BEEN ADVISED OF, KNEW OF, OR SHOULD HAVE KNOWN OF THE POSSIBILITY OF SUCH DAMAGES.
SOME JURISDICTIONS DO NOT ALLOW THE EXCLUSION OR LIMITATION OF INCIDENTAL OR CONSEQUENTIAL DAMAGES, SO THE ABOVE LIMITATION MAY NOT APPLY TO YOU.
UNDER NO CIRCUMSTANCES SHALL SOLUS BE REQUIRED TO DELIVER TO YOU ANY SPECIFIC DIGITAL ASSETS, AND IN NO EVENT SHALL SOLUS OR ITS AFFILIATES BE LIABLE FOR ANY LOSSES ASSOCIATED WITH THE LOSS OF ACCESS TO, OR VALUE OF, ANY SPECIFIC DIGITAL ASSETS.
SOLUS SHALL NOT BE LIABLE FOR ANY LOSS OF DIGITAL ASSETS RESULTING FROM A CUSTODIAL OR BLOCKCHAIN PRIVATE KEY BREACH OUTSIDE OF SOLUS’S CONTROL.
YOU HEREBY AGREE THAT SOLUS SHALL NOT BE LIABLE FOR ANY DAMAGES CAUSED IN WHOLE OR IN PART BY (A) ANY MALFUNCTION, UNEXPECTED FUNCTION OR UNINTENDED FUNCTION OF ANY COMPUTER OR CRYPTOCURRENCY NETWORK, INCLUDING WITHOUT LIMITATION LOSSES ASSOCIATED WITH NETWORK FORKS, REPLAY ATTACKS, DOUBLE-SPEND ATTACKS, SYBIL ATTACKS, 51% ATTACKS, GOVERNANCE DISPUTES, MINING DIFFICULTY, CHANGES IN CRYPTOGRAPHY OR CONSENSUS RULES, HACKING OR CYBERSECURITY BREACHES; (B) ANY CHANGE IN VALUE OF ANY CRYPTOCURRENCY; (C) ANY CHANGE IN LAW, REGULATION OR POLICY; OR (D) FORCE MAJEURE.
THIS LIMITATION OF LIABILITY SECTION APPLIES WHETHER THE ALLEGED LIABILITY IS BASED ON CONTRACT, TORT, NEGLIGENCE, STRICT LIABILITY, OR ANY OTHER BASIS, EVEN IF SOLUS HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGE.
Indemnity
You agree to indemnify and hold harmless Solus, its affiliates, licensors, service providers, officers, directors, employees, agents and representatives from any claim or demand, including reasonable attorneys’ fees, made by any third party due to or arising out of: (a) your use of the Site, the Services or any Site Content; (b) your violation of this Agreement; (c) your violation of any rights of another user or third party; (d) your violation of any law, rule or regulation; or (e) any information transmitted to or from your Solus Account. Solus assumes the exclusive defense and control of any matter for which you are required to indemnify us and you agree to cooperate with our defense of these claims.
Dispute Resolution
13.1 Governing Law. This Agreement and any dispute arising hereunder shall be governed by and construed in accordance with the laws of the _________________, [VV3] without regards to its conflict of law provisions.
13.2 Arbitration. Any dispute, controversy or claim arising out of or relating to this Agreement, or the breach, termination or invalidity thereof, shall be settled by arbitration in accordance with the UNCITRAL Arbitration Rules as at present in force. The appointing authority shall be the _______________________________. The place of arbitration shall be the ________________. [VV4] There shall be one arbitrator. The language to be used in the arbitral proceedings shall be English. The arbitral award shall be final and binding on the parties, and the parties undertake to carry out any award without delay. Judgment upon the award rendered by the arbitrator may be entered in any court having jurisdiction thereof. This clause constitutes an independent agreement to arbitrate between the parties and shall survive the termination or expiry of this Agreement.
13.3 Limited Time to File Claims. ANY CAUSE OF ACTION OR CLAIM YOU MAY HAVE ARISING OUT OF OR RELATING TO THIS AGREEMENT, THE SERVICES OR THE SITE MUST BE COMMENCED WITHIN ONE (1) YEAR AFTER THE CAUSE OF ACTION ACCRUES, OTHERWISE, SUCH CAUSE OF ACTION OR CLAIM IS PERMANENTLY BARRED.
Miscellaneous
14.1 Notices. By using the Services or providing Personal Information to us, you agree that we may communicate with you electronically and that such communications satisfy any legal requirements that communications be in writing.
14.2 Relationship of the Parties. Nothing in this Agreement shall be construed to create a partnership, joint venture, agency, trust, fiduciary or employment relationship between you and Solus. You agree that you are an independent contractor under this Agreement and that nothing in this Agreement creates an employment or other agency relationship between you and Solus.
14.3 No Third-Party Beneficiaries. You agree that, except as otherwise expressly provided in this Agreement, there shall be no third-party beneficiaries to this Agreement.
14.4 Communications and Offers. By providing your email address and phone number to Solus, you expressly consent to receive communications from us, including via email, phone call, text message, or push notifications. These communications may include operational communications concerning your Account or use of the Services, as well as marketing communications and special offers. You may opt out of marketing communications at any time by following the opt-out instructions provided in the communication or updating your preferences in your Account settings.
14.5 Assignment. You may not assign any of your rights or delegate any of your obligations under this Agreement without prior written consent of Solus. Solus may assign its rights or delegate any or all of its obligations under this Agreement in whole or in part at any time, provided that such assignment or delegation shall not relieve Solus of its obligations under this Agreement.
14.6 Entire Agreement. This Agreement including the Privacy Policy and any other documents referenced herein, sets forth the entire agreement between you and Solus relating to the Services and the Site. No agency, partnership, joint venture, employee-employer or franchisor-franchisee relationship is intended or created by this Agreement. If any provision of this Agreement is held to be invalid or unenforceable, such provision shall be struck and the remaining provisions shall be enforced.
14.7 Waiver. The failure of Solus to exercise or enforce any right or provision of this Agreement shall not constitute a waiver of such right or provision.
14.8 Force Majeure. Solus shall not be liable for any failure or delay in performance under this Agreement (including but not limited to the delivery of the Services) which is caused by circumstances beyond its reasonable control.
14.9 Contact Information. If you have any questions about this Agreement or the Services, please contact us at: legal@solus.finance[VV5] .
This Agreement, together with the Terms & Conditions, Privacy Policy, AML/CFT Policy, Restricted Jurisdiction Policy, Positive Compliance Policy and any other policy or documents incorporated by reference, represents the entire understanding between you and Solus regarding your use of the Services. By registering for a Solus Account or accessing the Services in any way, you agree to be legally bound by the terms and conditions of this Agreement in their entirety.
If any provision of this Agreement is held to be invalid or unenforceable, such provision shall be struck and the remaining provisions shall be enforced to the fullest extent under law.
We reserve the right, at our sole discretion, to modify or replace this Agreement at any time. If a revision is material, we will provide at least 30 days’ notice prior to any new terms taking effect. What constitutes a material change will be determined at our sole discretion.
Your continued use of the Site or the Services after any modifications to this Agreement constitutes your acceptance of the modified terms. If you do not agree to any of the terms in this Agreement or any modifications hereto, you must immediately stop using the Site and the Services.
The section titles in this Agreement are for convenience only and have no legal or contractual effect. This Agreement operates to the fullest extent permissible by law.
If you have any questions about this Agreement or wish to contact us for any reason, please email us at legal@solus.finance .
We appreciate your choice to use the Solus platform and look forward to providing you with an innovative, transparent and user-friendly crypto derivatives trading experience.
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