These terms of service (“Terms”) apply between you (also referred to herein as “user”, “you” and “your”) and Pocketwo Pte. Ltd. (UEN 202130950C) and/or its related corporations and affiliates (referred to herein as “Pocketwo” “we”, “us” or “our”), collectively or singularly as the context requires.
We may make changes to these Terms from time to time. You understand and agree that your continued use of the Services or the Site after we have made any such changes constitutes your acceptance of the new Terms. Existing users will be notified via email prior to any changes being made.
You may use our Services only if you are age 18 or older and not barred from using banking or investment services under the laws of Singapore or other applicable jurisdiction. Each person is allowed only one Pocketwo account, and you may not create additional accounts on behalf of any other individual.
In order to use the Service, the User will need to register for an account on the Site (“User Account”). Pocketwo may require the User to provide information satisfactory to Pocketwo and relevant third-parties that the User is not in breach of or at risk of being in breach of AML Laws, Anti-Bribery Laws, Sanctions Laws, CTF Laws, and other Applicable Laws. During the registration process, the User may need to submit information and documents in order to verify the User’s identity and for know-your-client checks of Pocketwo to prevent fraud, money laundering and financing of terrorism, fraud or any other financial crime (“KYC Process”). Pocketwo may engage the assistance of third-party service providers for the KYC Process and the User irrevocably grants Pocketwo the right to share such information with the third-party service providers concerned. The User is required to promptly provide whatever information requested and necessary to satisfy such due diligence requirements.
Pocketwo shall also regularly monitor and assess activities that may constitute a potential breach of AML Laws, CTF Laws, Sanctions Laws, Anti-Bribery Laws, and other Applicable Laws. Notwithstanding the KYC Process, the User is required to provide further information and documents or conduct any activities as requested by Pocketwo or any of its nominated third-parties pursuant to the Terms on an ongoing basis.
Pocketwo may, in its sole discretion, refuse to set up the User Account, terminate or suspend the User Account and the User’s access to the Site, or limit the number of User Accounts the User may hold. The User’s access to the Service and the limits that may apply may be adjusted as a result of the information collected from the User.
The User represents, warrants and undertakes that all information provided by the User to Pocketwo at any relevant time is true, complete, accurate, current and not misleading in any material respect. The User undertakes to maintain and update all such information to keep it true, complete, accurate, current and not misleading in any material respect.
The User undertakes to immediately inform Pocketwo of any relevant change in the information which has been provided to Pocketwo in the course of Pocketwo providing the Service.
The User irrevocably undertakes to provide to Pocketwo, promptly upon demand, any information and/or documentation as Pocketwo may request from time to time. The User hereby expressly and irrevocably permits and authorises Pocketwo and its employees and/or any other persons authorised by Pocketwo to provide any information and copies of any document provided by the User as may be required pursuant to any KYC Process.
The User shall be fully responsible for all activities that occur under the relevant User Account(s) he is using including all information submitted to Pocketwo, whether publicly posted on the Site or privately transmitted.
The User shall (a) immediately notify Pocketwo of any unauthorised use of the User’s password or any other breach of security of his User Account(s), and (b) to ensure prompt exit from the relevant User Account at the end of each session. Pocketwo shall not be liable for any loss or damage arising from failure to comply with this Clause 7.
If you know or suspect your password has been compromised, you must promptly change your password. Even if you give us notice, you could be held liable for your loss, e.g. if a malicious third party makes a withdrawal on your behalf which Pocketwo has processed, prior to receiving your notice. Pocketwo may freeze your account, if we receive a notice from you, or if we suspect any suspicious activity. You will be notified of such a suspension.
8.1. By using the Service, the User expressly acknowledges and assumes the risks set out in this Terms. If any of these risks and uncertainties develop into actual events, the ability of Pocketwo to provide the Service may be adversely or materially affected and/or the User may lose all or part of or all of your balance in Pocketwo.
8.2. While the Pocketwo platform has been extensively tested and Pocketwo maintains technology-risk management and business-continuity arrangements, the platform may experience unforeseen outages or bugs beyond Pocketwo’s reasonable control. Should this occur, Pocketwo will take remedial steps to restore functionality as promptly as possible.
8.3. While every effort has been taken to ensure that the Services are compliant with local laws, it is difficult to predict how or whether regulatory agencies may apply existing regulation with respect to the Services. It is likewise difficult to predict how or whether legislatures or regulatory agencies may implement changes to law and regulation affecting our Services. Regulatory actions could negatively impact Pocketwo in various ways, and thus the Services may not be available to users in certain jurisdictions.
8.4. Although Pocketwo take steps against malicious attacks on their applications or infrastructure, which are critical for the maintenance of the Site and the provision of the Service, there can be no assurance that cyber-attacks, such as distributed denials of service, will not be attempted in the future, and that any of such security measures will be effective. Pocketwo does not provide any assurances or make any representations whatsoever as to the usability, stability and security of the Site and the User’s balance stored in his User Account(s).
8.5. It is possible that your intended treatment of the Services may be challenged by tax authorities. You must seek your own tax advice in connection with the Services provided by Pocketwo, which may result in adverse tax consequences to you, including, without limitation, withholding taxes, transfer taxes, value-added taxes, income taxes and similar taxes, levies, duties or other charges and tax reporting requirements.
Users who deposited with Pocketwo before 12 May 2022 can view their balance through the LUNA Airdrop Balance tab on our platform.
This balance will include airdropped LUNA, expected LUNA to be airdropped as and when they are released, and stablecoins. Pocketwo will sell LUNA periodically when market opportunity arises and might stake the stablecoins to earn some interest.
This balance is subject to market volatility of LUNA, and all other risks associated with cryptocurrency, including but not limited to depeg risk of stablecoins held in the portfolio, smart contract risks of staking protocols and hack risks. Users should be aware and accept that these risks will be borne by the users in keeping their balance with LUNA.
The User irrevocably undertakes to fully indemnify and hold harmless each of Pocketwo, its shareholders, officers, directors, employees and agents and their respective successors, heirs and assigns (collectively, the “Indemnified Parties” and each an “Indemnified Party”) promptly upon demand at any time and from time to time, from and against any and all losses, claims, actions, proceedings, damages, demands, judgments, sums payable, liabilities, damages, costs, charges and expenses (including reasonable attorneys’ fees and disbursements), and/or expenses (collectively, “Losses”) to which any Indemnified Party may become subject, insofar as such Losses arise out of, or in any way relate to, or result from:
a. the information provided by the User;
c. any breach or non-compliance of the User with any Applicable Laws, along with any regulations or notices.
Exclusion of liability
a. the provision of the Service by Pocketwo to the User, including any investment losses incurred by the User pursuant to its use of the Service;
b. the use or accuracy of the Site;
c. any loss (whether direct or indirect) of profits, business, business opportunities, revenue, turnover, reputation or goodwill;
d. lost or damaged data;
e. damage to or interruption of any local area networks;
f. the introduction of viruses, worms or other destructive programs or any other commercial or economic losses;
g. any decision made or action taken by any party in reliance on the Service (or its results or the Site’s contents);
h. any delay, failure interruption or corruption of any data or other information transmitted in connection with use of the Service; and
i. any inaccuracies, errors or omissions in connection with the Service and any Site content.
To protect yourself from unauthorized activity in your account, you should regularly log into your account and review your account.
In case of errors, please contact us immediately.
We will determine if an error has occurred within 10 days after being notified. If we need more than 10 days to determine if an error occurred, we will provisionally credit your Account.
Please e-mail us if you discover an error or if you need more information about a transaction.
We will rectify any processing error that we discover. If the error results in:
a. You receiving less than the correct amount to which you were entitled, then we will credit your account for the difference between what you should have received and what you actually received.
b. You receiving more than the correct amount to which you were entitled, then we will debit your account for the difference between what you actually received and what you should have received.
We will not rectify errors if:
a. Through no fault of ours, you did not have enough available funds or cryptocurrency to complete the transaction;
b. Our system was not working properly, and you knew about the breakdown when you started the transaction; or
c. The error was due to extraordinary circumstances outside our control (such as fire, flood or loss of Internet connection), despite our reasonable precautions.
We will determine if an error has occurred within 10 days after being notified. If we need more than 10 days to determine if an error occurred, we will provisionally credit your account.
You agree to contacting us within 30 days of the Error occurring. We are not liable for any losses associated with Errors for which you do not contact us within 30 days.
Pocketwo is not an investment advisor. Pocketwo does not provide investment advice. No content published on the website constitutes a recommendation that any particular cryptocurrency, digital assets, or digital finance protocols are suitable for any specific person.
We hope to make our Services available at all times, but at times we may need to temporarily disable the Site. The Services may be modified, suspended or discontinued at any time without notice or liability. Pocketwo will not be liable if all or part of the services is unavailable at any time.
Our Services are provided on an ‘as is’ and ‘as available’ basis. Pocketwo hereby disclaims all warranties of any kind, either express or implied, statutory or otherwise, including any warranties of merchantability, non-infringement, and fitness for particular purpose.
In the event of a dispute, our liability and yours will be limited to the maximum extent permitted by law. In no event shall either party be liable for any indirect, incidental, special, exemplary or consequential damages arising out of or in connection with the services.
If you have a dispute with Pocketwo, you agree to contact Pocketwo through our support team in the first instance to attempt to resolve any such dispute amicably. If we cannot resolve the dispute through the Pocketwo support team, you agree that the dispute will be resolved in the manner described immediately below.
Each party (i) waives all its respective right(s) to have any and all disputes, claims, suits, actions, causes of action, demands or proceedings (collectively, "Disputes") arising from or related to these Terms resolved in a court, and (ii) waives all its respective right(s) to have any Disputes heard before a court. Instead, each party shall arbitrate Disputes through binding arbitration (which is the referral of a Dispute to one or more persons charged with reviewing the Dispute and making a final and binding determination to resolve it instead of having the Dispute decided by a judge or jury in court).
Any Dispute arising out of or related to these Terms is personal to you and will be resolved solely through individual arbitration, and shall in no circumstances be brought as a class arbitration, class action or any other type of representative proceeding. There will be no class arbitration or arbitration in which an entity attempts to resolve a Dispute as a representative of another individual or group of individuals. Further, a Dispute cannot be brought as a class or other type of representative action, whether within or outside of arbitration, or on behalf of any other individual or group of individuals.
Any Dispute arising out of or in connection with these Terms (including without limitation the enforceability of this section or any question regarding its existence, validity or termination) shall be referred to and finally resolved by arbitration administered by the Singapore International Arbitration Centre in accordance with the Arbitration Rules of the Singapore International Arbitration Centre for the time being in force, which rules are deemed to be incorporated by reference in this section. The seat of the arbitration shall be Singapore. The tribunal shall consist of 1 arbitrator. The language of the arbitration shall be English.
Each party will notify the other party in writing of any Dispute within thirty (30) days of the date it arises, so that the parties can attempt in good faith to resolve the Dispute informally. Notice to Pocketwo shall be sent by email. Notice to you shall be either posted on the Site or, if available, will be sent by email to your email on record. Your notice must include (i) your name, postal address, email address and telephone number, (ii) a full and sufficient description of the nature or basis of the Dispute, and (iii) the specific relief that you are seeking. If you and Pocketwo cannot agree how to resolve the Dispute within thirty (30) days after the date the notice is received by the applicable party, then either you or Pocketwo may, as appropriate and in accordance with this section, commence an arbitration proceeding or, to the extent specifically provided for in this section, file a claim in court.
The arbitrator does not have the authority to conduct a class arbitration or a representative or class action, which is prohibited by these Terms. The arbitrator may only conduct an individual arbitration and may not consolidate more than one individual’s claims, preside over any type of class or representative proceeding or preside over any proceeding involving more than one individual.
If any term, clause or provision of this section is held invalid or unenforceable, it will be held to the minimum extent applicable and required by law, and all other terms, clauses and provisions of this section will remain valid and enforceable. Further, the waivers set forth in this section are severable from the other provisions of these Terms and will remain valid and enforceable, except as prohibited by applicable law.
You agree that this section of these Terms has been included to rapidly and inexpensively resolve any disputes with respect to the matters described herein, and that this section shall be grounds for dismissal of any court action commenced by you with respect to a dispute arising out of such matters.
A printed version of these Terms shall be admissible in judicial or administrative proceedings.