Terms of Service

1. Acceptance of Terms

By accessing or using MAGMA Protocol, its smart contracts, interfaces, APIs, or any associated services (collectively, the "Protocol"), you agree to be bound by these Terms of Service. If you do not agree, you must not use the Protocol.

MAGMA Protocol Corp, a Cayman Islands Segregated Portfolio Company ("MAGMA") reserves the right to modify these Terms at any time, at its sole discretion, without prior notice. Continued use of the Protocol after any modification constitutes acceptance of the updated Terms.

2. Eligibility and Restricted Jurisdictions

You must be at least 18 years of age with legal capacity to enter binding contracts. You are strictly prohibited from using the Protocol if you are located in, incorporated in, or a citizen or resident of:

• The United States of America (including its territories and possessions)
• The United Kingdom
• Any jurisdiction subject to comprehensive OFAC sanctions (including Iran, North Korea, Cuba, Syria, Russia, Belarus, and the Crimea, Donetsk, and Luhansk regions)
• Any jurisdiction where use of the Protocol would violate applicable law, including jurisdictions where prediction markets or yield-bearing DeFi instruments are prohibited

MAGMA reserves the right to implement geographic blocking and suspend or terminate access for any user it reasonably believes to be in a restricted jurisdiction, without prior notice and without liability.

3. Nature of the Protocol

MAGMA Protocol is a decentralized narrative capital market on Solana. It is NOT a licensed financial services provider, investment adviser, broker-dealer, prediction market regulated under commodities or derivatives law, bank, custodian, or securities exchange. Nothing in the Protocol constitutes financial, investment, legal, or tax advice. You are solely responsible for all decisions made in connection with the Protocol.

4. Risk Disclosure

You expressly acknowledge and accept the following risks:

• Smart contract risk: contracts may contain bugs or vulnerabilities resulting in permanent loss of funds.
• Market risk: digital asset values may decrease to zero.
• Oracle risk: third-party oracles may fail, be manipulated, or produce errors affecting narrative resolution.
• Regulatory risk: applicable laws may change adversely.
• Protocol modification risk: MAGMA may modify, pause, or discontinue the Protocol at any time.
• Yield risk: DeFi yield integrations are subject to risks of underlying protocols.
• Key management risk: lost private keys cannot be recovered by MAGMA.
• Network risk: Solana network congestion, forks, or failures may affect Protocol access.

5. Fund Holds, Withholds, and Security Actions

MAGMA reserves the right, at its sole discretion and without prior notice, to:

• Freeze, hold, or withhold access to funds associated with any wallet address involved in fraud, manipulation, wash trading, Sybil attacks, exploit attempts, or any Terms violation.
• Halt or pause the Protocol or any component in the event of a security incident, exploit, oracle failure, or other emergency.
• Reverse, cancel, or void any transaction or position resulting from a bug, exploit, manipulation, or error.
• Report suspicious activity to relevant authorities and cooperate fully with law enforcement.

6. User Conduct and Prohibited Activities

You agree not to engage in wash trading or coordinated manipulation, create multiple wallets to circumvent anti-Sybil measures, submit fraudulent narratives, attempt to exploit or hack the Protocol, use unauthorized bots or automated tools, or violate any applicable law or regulation. MAGMA reserves the right to block or ban any wallet address violating these Terms without prior notice and without liability.

7. Beta Status and Protocol Modifications

The Protocol is in beta. It may contain unidentified bugs. Features may be added, modified, or removed at any time. Smart contract addresses, parameters, and economic mechanics may change. Beta participation does not guarantee continued access to any feature. MAGMA may migrate to a new version requiring user action to preserve positions.

8. Disclaimer of Warranties

The Protocol is provided "as is" and "as available" without warranty of any kind. MAGMA disclaims all warranties including implied warranties of merchantability, fitness for a particular purpose, and non-infringement. MAGMA does not warrant that the Protocol will be uninterrupted, error-free, or secure.

9. Limitation of Liability

To the maximum extent permitted by law, MAGMA shall not be liable for any indirect, incidental, special, consequential, or punitive damages, including loss of funds, profits, or data. MAGMA's total liability shall not exceed fees paid by you in the three months preceding any claim, or $100 USD, whichever is greater.

10. Indemnification

You agree to indemnify and hold harmless MAGMA and its officers, directors, employees, and agents from any claims, liabilities, damages, and expenses arising from your use of the Protocol, your violation of these Terms, or your violation of any third-party rights.

11. Governing Law and Dispute Resolution

These Terms are governed by the laws of the Cayman Islands. Disputes shall be resolved by binding arbitration under Cayman Islands Arbitration Centre rules, conducted in English. You waive any right to participate in class action litigation or class-wide arbitration.

12. Taxes

You are solely responsible for determining taxes applicable to your Protocol use, including yield earned, Echo Pool distributions, and NFT transactions. MAGMA does not withhold taxes or provide tax reporting on your behalf.

13. Privacy

MAGMA does not collect personal information beyond what is publicly available on-chain. Wallet addresses, transaction histories, and conviction scores are publicly visible on Solana. Your on-chain activity is public and permanent.

14. Entire Agreement

These Terms constitute the entire agreement between you and MAGMA regarding the Protocol. If any provision is found invalid or unenforceable, remaining provisions remain in full force.

MAGMA Protocol Corp · Cayman Islands SPC
Legal inquiries: magma@exidante.xyz