Terms of Service

Last updated: 2026-04-18 · Version 1.0

By accessing or using bayanX ("the Service", "we", "us"), you agree to be bound by these Terms. If you do not agree, do not use the Service. These Terms form a binding contract between you and the operator of bayanX.

1. Eligibility

• You are at least 18 years old (or the age of majority in your jurisdiction, whichever is higher).
• You are not a resident of, or accessing the Service from, a Restricted Jurisdiction as listed in Section 12.
• You have the legal capacity to enter into this agreement.
• You are not a Sanctioned Person under any applicable sanctions regime (US OFAC, EU, UN).

2. Nature of the Service

bayanX is a non-custodial derivatives exchange. You retain custody of your crypto assets in a self-controlled wallet; the Service facilitates on-chain settlement of trades between users. We do not take custody of your funds.

The Service offers perpetual futures and spot markets with leverage up to 50×. Perpetual futures are complex, high-risk derivatives. See our Risk Disclosure for details.

3. Account creation and authentication

You create an account by signing a Sign-In With Ethereum (SIWE) message with your wallet. We do not require email or password. You are solely responsible for the security of your wallet, including private keys and seed phrases. Loss of wallet access may result in permanent loss of all funds and history.

4. Fees

• Maker / taker trading fees are displayed on the market page and in the order-confirmation flow.
• Fees may change with 48 hours' notice, posted on the /status page and Notices CMS.
• VIP-tier and referral discounts apply automatically and cannot be combined.

5. Withdrawals

• Withdrawals ≥ USDT 1,000 are subject to a 24-hour security hold.
• Withdrawals from a new destination address are held for 1 hour.
• Two-factor authentication is required for withdrawals ≥ USDT 1,000 when 2FA is enabled on the account.
• Administrators may pause withdrawals during an incident per the published Runbook; any such pause triggers a public notice and admin alerts.

6. Prohibited conduct

You agree not to:

• Manipulate markets (wash trading, spoofing, layering, pump-and-dump schemes).
• Use the Service for money laundering, sanctions evasion, or any illegal purpose.
• Attempt to exploit bugs, smart-contract vulnerabilities, or price-feed anomalies instead of reporting them.
• Operate more than one account from the same person to abuse promotions or referrals.
• Reverse-engineer or copy Service code protected by our license.

7. Liquidations

Open positions are subject to automatic liquidation when the margin ratio breaches the market's maintenance threshold. Liquidation is executed at the best available price on the order book. Any shortfall below zero equity is absorbed by the Insurance Fund (see Section 8).

8. Insurance Fund & socialized loss

bayanX maintains an Insurance Fund that absorbs losses from bankrupt positions. If the Insurance Fund is depleted, losses are socialized across profitable counterparties via Auto-Deleveraging (ADL). The public Insurance Fund balance is displayed at /stats and updated in real time.

9. Data and privacy

Your wallet address is treated as pseudonymous identifier. We log IP addresses for security and anomaly detection. See our Privacy Policy for full data practices. We do not sell personal data.

10. Limitation of liability

THE SERVICE IS PROVIDED "AS IS" WITHOUT WARRANTY OF ANY KIND. TO THE MAXIMUM EXTENT PERMITTED BY LAW, bayanX, its operators, affiliates, officers, and employees SHALL NOT BE LIABLE for any indirect, incidental, special, consequential, or punitive damages, or any loss of profits or revenues. Our aggregate liability for direct damages shall not exceed the fees you paid to us in the 30 days preceding the event giving rise to the claim.

11. Changes to these Terms

We may update these Terms from time to time. Material changes will be posted as a Notice and displayed on the next login. Continued use after a change constitutes acceptance.

12. Restricted Jurisdictions

The Service is not available to residents or persons located in the following jurisdictions: United States, Canada, United Kingdom, Mainland China (subject to local regulation), Cuba, Iran, North Korea, Syria, Crimea, Donetsk, Luhansk. We may add jurisdictions to this list to comply with regulations; changes are posted to this page.

13. Governing law & dispute resolution

These Terms are governed by the laws of the jurisdiction in which bayanX is incorporated. Disputes shall be resolved first through good-faith negotiation, then through binding arbitration administered in that jurisdiction. You waive any right to a jury trial or class-action proceeding.

14. Contact

Legal questions: legal@bayanx.com
Support: support@bayanx.com