Terms of Use

The terms that govern access to and use of this website and its services.

ACCESS TO AND USE OF THE Purps MOBILE APPLICATION (THE "APP") IS NOT OFFERED TO PERSONS OR ENTITIES WHO RESIDE IN, ARE CITIZENS OF, ARE LOCATED IN, ARE INCORPORATED IN, OR HAVE A REGISTERED OFFICE IN ANY RESTRICTED TERRITORY (AS DEFINED BELOW). ANY SUCH PERSON OR ENTITY IS A "RESTRICTED PERSON" FOR THE PURPOSES OF THESE TERMS. IF YOU ARE A RESTRICTED PERSON, DO NOT ATTEMPT TO ACCESS OR USE THE APP. THE USE OF A VIRTUAL PRIVATE NETWORK ("VPN") OR ANY OTHER TOOL TO CIRCUMVENT THE RESTRICTIONS SET FORTH HEREIN IS PROHIBITED.

These Terms of Use, together with any documents and additional terms they expressly incorporate by reference (collectively, these "Terms"), are entered into between Spira Arc Inc. and its affiliates (collectively, "Purps," "we," "our," or "us") and you, and govern your access to and use of the App.

Purps is a mobile interface to the Nado protocol, operated by Spira Arc Inc., a corporation organized under the laws of the Republic of Panama. The App provides a mobile front-end through which you can access and interact with the same decentralized Nado protocol available through Nado's websites and web applications.

For the purposes of these Terms, “Services” means the App and the access it provides to the Nado protocol and related order book, matching engine, smart contracts, decentralized applications, application programming interfaces (“APIs”), and other software or technology developed by Purps or a third party for trading, holding, or otherwise interacting with cryptocurrencies and other blockchain-based assets ("Digital Assets"), including entering into perpetual contracts ("Perpetual Contracts") related to Digital Assets.

By downloading, installing, accessing, or using the App, or by connecting a digital-asset wallet ("Wallet") to the App, you accept and agree to be bound by these Terms, including the mandatory arbitration provision and class-action waiver in Section 16. If you do not agree to these Terms, do not access or use the App.

Please carefully review the disclaimers in Section 13 and the risks in Section 8 and 9 before using the App. By accessing or using the App, you agree that your use is on a peer-to-peer basis and that Purps does not provide execution, settlement, or clearing services of any kind and is not responsible for the execution, settlement, or clearing of transactions.

1. Nature of the Service; Non-Custodial

Purps is a non-custodial mobile interface that connects you to decentralized trading infrastructure. Purps does not, and the App does not:

(a) operate as a custodian of Digital Assets;

(b) hold or control your funds;

(d) act as a broker, dealer, exchange, financial institution, intermediary, agent, or fiduciary; or

(e) provide execution, settlement, or clearing services.

When you use the App, you interact directly with blockchain networks, smart contracts, and third-party protocols. All transactions are executed peer-to-peer, directly between users' blockchain addresses, through smart contracts deployed on the applicable blockchain network. The private key associated with the address from which you transfer Digital Assets is the only key that can control those Digital Assets. Purps does not have access to, and cannot access, your private keys, seed phrases, passwords, or other Wallet credentials, and cannot initiate, cancel, reverse, or modify any transaction on your behalf.

2. Eligibility and Representations

As a condition to accessing or using the App, you represent and warrant that:

(a) you are at least 18 years of age and have the legal capacity to enter into these Terms (or, if acting on behalf of an entity, you have authority to bind that entity);

(b) you do not reside in, and are not located, incorporated, or registered in, any Restricted Territory, and you are not a Restricted Person;

(c) you are not subject to any sanctions administered or enforced by the U.S. Department of the Treasury's Office of Foreign Assets Control ("OFAC"), the United Nations Security Council, the European Union, His Majesty's Treasury, or any other applicable authority, and neither you nor your Wallet address is listed on any sanctions list (any such person, a "Sanctioned Person");

(d) you will not use a VPN or any other tool to circumvent, or attempt to circumvent, any geographic or other restriction that applies to the App;

(e) you are legally permitted to use the App and to trade Digital Assets, including Perpetual Contracts, under the laws applicable to you; and

(f) your access to or use of the App does not violate any law, regulation, or order applicable to you.

"Restricted Territories" means (i) Belarus, Cuba, Iran, North Korea, Russia, or Ukraine, or any country or region subject to comprehensive economic sanctions by the United States, the United Kingdom, the European Union, or the United Nations; and (ii) the United States, Canada, and the Republic of Panama.

3. Geographic Screening

To enforce the restrictions in Section 2, Purps screens access to the App, including by processing your IP address and derived location information to identify and block access from Restricted Territories and to detect circumvention. Purps may restrict, suspend, or terminate your access at any time if it believes you are, or may be, a Restricted Person or Sanctioned Person, or are otherwise in breach of these Terms. Purps's processing of this information is described in our Privacy Policy.

4. Your Responsibilities

You are solely responsible for:

(a) safeguarding your Wallet, private keys, seed phrases, passwords, and other credentials;

(b) all activity conducted through your Wallet in connection with the App, including all transactions;

(d) ensuring that any Digital Assets you use are lawfully owned by you or that you are authorized to use them, and were obtained through legitimate means; and

(e) determining, reporting, and paying any taxes applicable to your use of the App.

If you lose access to your Wallet, private keys, or seed phrases, Purps cannot recover your Digital Assets or restore your access.

5. No Professional Advice; No Fiduciary Duty

All information provided in or through the App — including charts, market data, statistics, analytics, portfolio overviews, and notifications — is provided for informational and user-interface purposes only, and does not constitute financial, investment, legal, tax, or other professional advice. All trading and investment decisions are your own. Before making any decision involving the App, you should seek independent professional advice from a qualified, licensed individual. To the fullest extent permitted by law, Purps owes no fiduciary duties to you, and you irrevocably waive and disclaim any such duties that may exist at law or in equity.

6. Fees

You are responsible for paying all fees necessary to interact with the applicable blockchain network(s), including "gas" costs and any other fees charged in connection with your use of the App. Any fee information Purps provides is an estimate only and may differ from actual fees.

7. Prohibited Uses

You agree not to use the App to:

(a) violate any applicable law, including anti-money laundering, counter-terrorist-financing, or sanctions laws;

(b) engage in any fraudulent, deceptive, or manipulative trading practice, including spoofing, wash trading, front-running, pre-arranged or fictitious transactions, cornering, or market manipulation;

(c) interfere with, disrupt, or impair the App or its security, or circumvent any access control or content-filtering measure (including through a VPN);

(d) use any bot, scraper, or other automated means not authorized by Purps to access the App or extract data, or introduce any malware or harmful code;

(e) transmit or exchange Digital Assets that are the proceeds of criminal or fraudulent activity, including money laundering, terrorism, or tax evasion;

(f) infringe Purps's or any third party's intellectual property or other rights, or misuse the Purps or Purps marks; or

(g) access or use the App from any Restricted Territory, or encourage or assist any third party to do any of the above.

Purps may determine, in its sole discretion, whether your use constitutes a Prohibited Use, and may restrict or terminate your access accordingly.

8. Trading and Market Risks

Trading Digital Assets, including leveraged Perpetual Contracts, involves substantial risk. By using the App, you acknowledge and accept that:

(a) Digital Asset values can be extremely volatile, and past performance does not indicate future results;

(b) you may lose some or all of the funds you trade;

(c) automated liquidation engines may close your positions at a loss, without prior notice, if margin requirements are not met;

(d) transactions are irreversible and final once broadcast, and no refunds will be issued;

(e) you are responsible for all trades you place, including erroneous orders; and

(f) Purps does not guarantee any profit, return, or outcome.

You should carefully consider whether trading Digital Assets, particularly Perpetual Contracts, is suitable for you in light of your circumstances and financial resources. You accept all consequences of using the App, including the risk of permanent loss of your Digital Assets.

9. Blockchain, Technology, and Third-Party Risks

You acknowledge and accept the inherent risks of cryptographic systems and blockchain networks, including that: Purps does not own or control the underlying blockchain software; there is no guarantee of the functionality, security, or availability of that software; blockchain networks are subject to sudden changes in operating rules, including "forks"; transaction costs are variable; and advances such as quantum computing may present risks to Digital Assets. Smart contracts and protocols accessible through the App may contain bugs, vulnerabilities, or logic errors, and may be subject to hacks or exploits, in each case outside Purps's control. You are solely responsible for evaluating any code, smart contract, or protocol you interact with. Purps is not responsible for any loss arising from third-party protocols, smart contracts, wallets, or network behavior.

10. Service Availability

The App may be unavailable, interrupted, delayed, or subject to errors due to maintenance, technical issues, network congestion, blockchain unavailability, third-party failures, or events beyond Purps's control. Purps does not guarantee that the App will be available at all times or free from errors, and reserves the right to modify, suspend, or discontinue the App, in whole or in part, at any time, with or without notice.

11. Intellectual Property

As between you and Purps, Purps owns all rights, title, and interest in and to the App and its content, including all trademarks, logos, designs, user-interface layouts, and other materials (the "Purps Marks" and, together with Purps's other marks, the "Marks"), excluding third-party and open-source components. Subject to your compliance with these Terms, Purps grants you a limited, non-exclusive, non-transferable, non-sublicensable, revocable license to download and use the App on a device you own or control, solely for your personal use. You may not copy, modify, distribute, reverse engineer, or create derivative works of the App, and you may not use the Marks without Purps's prior written consent. Certain components of the App may be subject to open-source licenses, with which you must comply.

12. Content and Feedback

If you provide feedback, suggestions, or other content to Purps, you grant Purps a royalty-free, perpetual, irrevocable, worldwide, non-exclusive, sublicensable, and transferable license to use it for any purpose, including operating, improving, and promoting the App and the Services. You represent that you have all rights necessary to grant this license.

13. Disclaimers

Purps is a software developer and does not operate a Digital Asset or derivatives exchange, trading platform, broker, intermediary, or clearing house, and does not provide trade execution, settlement, or clearing services. Purps has no control over, and no responsibility for, any transaction you initiate or execute through the App. All transactions are executed peer-to-peer, directly between users' blockchain addresses, through smart contracts. Purps is not registered or licensed by any regulatory authority, and no authority has reviewed or approved the App.

TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, THE APP AND THE SERVICES (INCLUDING THEIR CONTENT, DATA, AND FUNCTIONALITY) ARE PROVIDED ON AN "AS IS" AND "AS AVAILABLE" BASIS, WITH ALL FAULTS. Purps EXPRESSLY DISCLAIMS ALL WARRANTIES AND CONDITIONS OF ANY KIND, WHETHER EXPRESS, IMPLIED, OR STATUTORY, INCLUDING IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE, AND NON-INFRINGEMENT, AND ANY WARRANTY THAT THE APP WILL BE UNINTERRUPTED, SECURE, OR ERROR-FREE. YOUR USE OF THE APP IS AT YOUR OWN RISK.

14. Limitation of Liability

TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, IN NO EVENT WILL Purps OR ITS AFFILIATES, OR THEIR RESPECTIVE SHAREHOLDERS, DIRECTORS, OFFICERS, EMPLOYEES, AGENTS, SUPPLIERS, OR CONTRACTORS, BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, PUNITIVE, OR CONSEQUENTIAL DAMAGES, OR FOR ANY LOSS OF DIGITAL ASSETS, FIAT CURRENCY, DATA, REVENUE, PROFITS, OR GOODWILL, ARISING OUT OF OR RELATING TO THE APP OR THE SERVICES, WHETHER BASED ON CONTRACT, TORT (INCLUDING NEGLIGENCE), STRICT LIABILITY, OR ANY OTHER THEORY, AND WHETHER OR NOT Purps HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, Purps'S TOTAL AGGREGATE LIABILITY ARISING OUT OF OR RELATING TO THE APP OR THE SERVICES WILL NOT EXCEED THE GREATER OF (A) THE TOTAL FEES YOU PAID TO Purps, IF ANY, DURING THE TWO (2) MONTHS PRECEDING THE EVENT GIVING RISE TO THE CLAIM, OR (B) ONE HUNDRED U.S. DOLLARS (US$100).

Some jurisdictions do not allow certain limitations, so some of the above may not apply to you.

15. Indemnification

You agree to defend, indemnify, and hold harmless Purps and its affiliates and their respective directors, officers, employees, agents, suppliers, and contractors from any claims, liabilities, damages, losses, and expenses (including reasonable attorneys' fees) arising out of or relating to: (a) your access to or use of the App; (b) any Digital Assets associated with your Wallet address; (c) your breach of these Terms; (d) your violation of any law or of the rights of any third party; or (e) any feedback or content you provide. Purps may assume exclusive control of the defense of any matter subject to indemnification by you, and you will cooperate with Purps in asserting any defenses.

16. Dispute Resolution; Arbitration; Class Waiver

PLEASE READ THIS SECTION CAREFULLY. IT AFFECTS YOUR LEGAL RIGHTS, INCLUDING YOUR RIGHT TO A JURY TRIAL AND TO PARTICIPATE IN A CLASS ACTION.

Any dispute, claim, or controversy arising out of or relating to these Terms or the App (a "Dispute") shall be resolved solely through individual binding arbitration, and not as a plaintiff or class member in any class or representative proceeding. You and Purps each waive the right to a jury trial and to participate in a class, collective, mass, or representative action.

Before commencing arbitration, the aggrieved party must provide written notice of the Dispute, and the parties shall attempt in good faith to resolve it, including by meeting and conferring within sixty (60) days. If the Dispute is not resolved within ninety (90) days of the initial notice, either party may submit it to binding arbitration administered by the Panama Conciliation and Arbitration Centre in accordance with its rules. The seat of arbitration shall be Panama City; the language shall be English; and the number of arbitrators shall be three. Any claim must be filed within one (1) year after it arose, or it is permanently barred.

If any portion of this Section is found unenforceable, that portion shall be severed, and any claims that must proceed on a class or representative basis shall be litigated in the courts of the Republic of Panama and stayed pending individual arbitration.

17. Governing Law

These Terms, and any Dispute relating to them or the App, are governed by the laws of the Republic of Panama, without regard to conflict-of-law principles. For any proceeding not subject to arbitration, the courts of the Republic of Panama have exclusive jurisdiction, and you waive any objection to venue there. Purps may seek to enforce its intellectual property rights in any court of competent jurisdiction.

18. Mobile Applications and App Store Terms

Your download and use of the App is also subject to the terms of the app store from which you obtained it (each, an "App Store"). You acknowledge that these Terms are between you and Purps only, not with any App Store, and that Purps — not the App Store — is solely responsible for the App and its content, maintenance, and support.

18.1 Apple App Store

The following applies if you obtain the App from the Apple App Store. You and Purps acknowledge that: (a) these Terms are concluded between you and Purps only, and not with Apple, and Apple is not responsible for the App or its content; (b) Apple has no obligation to furnish any maintenance or support for the App; (c) in the event the App fails to conform to any applicable warranty, you may notify Apple, and Apple will refund the purchase price (if any), and to the maximum extent permitted by law Apple will have no other warranty obligation with respect to the App; (d) Apple is not responsible for addressing any claims by you or any third party relating to the App, including product-liability, legal/regulatory-compliance, and intellectual-property claims; (e) Apple is not responsible for the investigation, defense, settlement, or discharge of any third-party intellectual-property infringement claim relating to the App; (f) you represent that you are not located in a country subject to a U.S. Government embargo or designated as "terrorist supporting," and are not on any U.S. Government list of prohibited or restricted parties; and (g) Apple and its subsidiaries are third-party beneficiaries of these Terms as they relate to your license of the App, and will have the right to enforce these Terms against you.

18.2 Google Play

The following applies if you obtain the App from Google Play. You acknowledge that these Terms are between you and Purps only, and not with Google, and that Google is not responsible for the App or its content. Your use of the App must comply with the then-current Google Play Terms of Service.

19. Modification, Suspension, and Termination

Purps may modify, suspend, or terminate your access to the App, in whole or in part, at any time, with or without notice, including to comply with applicable law. Upon termination, all rights granted to you cease, and you must stop using the App. You may terminate at any time by ceasing use and uninstalling the App. The sections that by their nature should survive termination — including Sections 4, 5, and 11 through 20 — will survive.

20. General

Changes to these Terms. Purps may modify these Terms from time to time. Purps will provide notice by updating the "Last updated" date or through the App. Unless stated otherwise, changes are effective immediately, and your continued use after notice confirms your acceptance. If you do not agree, you must stop using the App.

Electronic communications. You consent to receive communications from Purps electronically, including through the App or by email.

Assignment. You may not assign these Terms without Purps's prior written consent. Purps may assign these Terms without restriction.

Severability; waiver. If any provision is held invalid, the remaining provisions remain in effect. Purps's failure to enforce any right is not a waiver.

Entire agreement. These Terms, together with the Privacy Policy, constitute the entire agreement between you and Purps regarding the App and supersede all prior understandings.

Any other terms, conditions, agreements, or policies that Purps publishes or makes available in connection with its websites, web applications, or the Nado protocol (including any separate terms of use governing Nado's web-based interfaces) do not apply to, and are not incorporated into, your use of the App, unless expressly incorporated by reference in these Terms. In the event of any conflict between these Terms and any such other document with respect to your use of the App, these Terms control.

Force majeure. Purps is not liable for any failure or delay resulting from causes beyond its reasonable control.

Contact. Questions about these Terms may be directed to legal@nado.xyz