The Terms used in this Agreement with their initial letters capitalized have the meanings ascribed to them in this section or where they are elsewhere defined in this Agreement. Any term defined in the singular will have the corresponding definition in the plural (and vice versa).
“AAB Plus Service” means the service offered by AAX where AAB allocated by Users to an AAB Plus account may earn AAB Plus Rewards.
“AAB Plus Rewards” means rewards in AAB distributed by AAX to You for allocating AAB to AAB Plus Account.
“AAX Platform” means our website(s), our application(s), our application programming interfaces (“APIs”), our notifications and any information or content appearing therein for providing services on the AAX Platform.
“AAX Token” or “AAB” refers to digital cryptographic tokens, digital payment tokens or virtual financial assets (also known as cryptocurrency) issued by the Company on the Ethereum Blockchain with the ticker ‘AAB’.
“AAX Vault” means the sub account on AAX where the fund is stored for the purpose of crypto management. It is different from another sub account on AAX where the fund is stored for trading on AAX spot or futures market.
“AAX Wallet” means a software application (or other mechanism) on the AAX Platform that provides a means for holding, storing and transferring digital asset, including users address, and digital asset balance.
“Digital Assets” means cryptocurrencies, virtual currencies, virtual commodities, digital assets or digital payment tokens traded on the AAX Platform that is a cryptographically-secured digital representation of value that is used or intended to be used as a medium of exchange.
“Whitepaper” means a document prepared by the Company to inform and encourage participation in Public Offer of AAX Tokens.
- In order to use and access the AAB Plus service, you are required to hold AAB in your AAX Wallet and AAX Vault subaccount. You represent that whether on Your behalf or on behalf of a legal entity, that You have authority to allocate AAB to your AAB Plus Accounts and to use AAB Plus Service.
- To use AAB Plus Service, you are required to ‘opt-in’ by opening an AAB Plus Account and allocating a minimum of 100 AAB to your AAB Plus Account from your AAX Wallet. Thereafter you may increase the allocated AAB in multiples of one (1) AAB.
- Once you allocate AAB to AAB Plus, AAX shall distribute to you the applicable AAB Plus Rewards as a percentage of your allocated AAB, per minute to your AAB Vault
- Your allocated AAB in your AAB Plus Account shall be locked for trading and you shall not be able to place orders in relation to AAB or transfer or withdraw the AAB until you de-allocating AAB back to AAX trading account. You can opt-out of AAB Plus at any time by transferring the allocated AAB back to your trading account. You shall not earn any AAB Rewards for other AAB in your AAB Wallet that is not allocated to your AAB Plus Account.
- The percentage of AAB Rewards shall be calculated at xx% annualized return with adjustment according to the AAP price and shall be distributed daily to your AAX Vault. Such applicable percentage shall be determined by AAX at its sole discretion and may change at any time in AAX sole discretion and is not guaranteed.
- The AAB Plus Service will be operated in a diligent and professional manner and in accordance with applicable industry standards and reasonable security safeguards to protect the integrity and availability of the AAB Plus Service. While AAX employs measures to ensure that the AAB Plus Services are accessible 24 hours a day and 7 days a week, AAX cannot guarantee uninterrupted or error-free operation of the AAB Plus Service. In the event of such disruptions beyond AAX control, any allocated AAB may not generate the AAB Plus Rewards and AAX shall not be liable for such amounts.
- You shall be responsible for payment of all taxes, fees and surcharges, however designated, imposed on or based upon the use of the AAB Plus Services. AAX shall not provide any advice or guidance with respect to your tax obligations in the jurisdiction related to your residence. You are strongly encouraged to seek advice from your own tax advisor to discuss the potential tax consequences of entering into this Agreement and the receipt of any AAB Plus Rewards.
- All right, title, and interest in and to the AAX Platform and the Website, including all modifications, improvements, adaptations, enhancements, or translations made thereto, and all proprietary rights therein, shall be and remain AAX sole and exclusive property.
- AAX shall not be liable for any delays or failures in relation to AAB Plus Service including distribution of AAB Rewards resulting from acts beyond its reasonable control including, without limitation, acts of God, acts of war or terrorism, shortage of supply, breakdowns or malfunctions, interruptions or malfunction of computer facilities, or loss of data due to power failures or mechanical difficulties with information storage or retrieval systems, cyber sabotage, labour difficulties or civil unrest (collectively the “Force Majeure Event”).