Terms of Service

Last Updated: 12.16.2016

This User Agreement ("Agreement") is a contract between you (“you”, “your” or “user”) and Ionomy Limited, (“Ionomy Limited”, “Ionomy.com”, “we”, “us” or “our”) and applies to your use of: (a) the collection of Ionomy Limited websites located at Ionomy.com, and any associated Ionomy Limited websites (collectively, the “Site” or “Sites”), (b) software applications, API, or browser plugins (collectively, the “Applications”), and (c) any services provided to you by Ionomy Limited. Ionomy Limited Sites, Applications, and services provided by Ionomy Limited shall be known collectively as the “Service” or “Services”.

If you do not agree to any of the terms set forth in this Agreement, or any subsequent modification to the Agreement, you may not access or use any of Ionomy Limited Services and must cancel your Ionomy.com Account, free of charge, in the manner set forth below. If you do not agree to any of the terms set forth in this Agreement, you may not access or use any of the Virtual Currency Sites, Applications, or Services.

We may amend or modify this Agreement by posting on Ionomy.com, Ionomy Limited Site or emailing to you the revised Agreement, and the revised Agreement shall be effective at such time. We may (a) modify or discontinue any portion of Ionomy Limited Services, and (b) suspend or terminate your access to Ionomy Limited Services, at any time, and from time to time, without notice to you in certain, limited circumstances described herein. You agree that we shall not be liable to you or any third party for any modification or termination of Ionomy Limited Services, or suspension or termination of your access to the Ionomy Limited Services, except to the extent otherwise expressly set forth herein.

To be eligible to use Ionomy.com Services, you must be at least 18 years old (or the applicable age of majority and contractual capacity). By accessing or using the Ionomy.com Services you represent and warrant that you are 18 or older.

Please note the following risks of using Ionomy.com Services:

  • The risk of loss in trading or holding Virtual Currency can be substantial. You should therefore carefully consider whether trading or holding Virtual Currency is suitable for you in light of your financial condition. In considering whether to trade or hold Virtual Currency, you should be aware that the price or value of Virtual Currency can change rapidly, decrease, and potentially even fall to zero. If you use a Ionomy Limited Service which allows you and/or third parties to access and hold Virtual Currency private keys, you acknowledge that Ionomy Limited is not responsible for safeguarding such keys and that Ionomy Limited is not responsible for any loss of Virtual Currency resulting from theft, loss, or mishandling of Virtual Currency private keys outside its control.
  • While Ionomy Limited takes great care in safeguarding funds, the possibility of a security breach is always possible. Ionomy Limited is not responsible for loss of your funds in the event of a breach. Ionomy Limited has set up a reserve in the event of a small breach, but that reserve may be unable to cover all losses. Ionomy Limited encourages use of private wallets and the diversification of the Virtual Currency network. An always on, large, web hosted wallet is a target and you should carefully consider where and how you store your Virtual Currencies.


    The Virtual Currency Services include the following:

    (i) one or more hosted accounts that allow users to store Virtual Currency private keys, and to track, transfer, and manage their Virtual Currency and account information and through which Virtual Currency Services can facilitate Virtual Currency Transactions pursuant to instructions submitted by a user or authorized entity to the Virtual Currency Services (“the Virtual Currency Wallet”).

    1. Creating an Account.
      In order to use any of the Ionomy Limited Services, you must first register by providing your valid email address and password. Upon successful completion of the registration process, Ionomy Limited will establish your Ionomy.com Account. Ionomy Limited may, in its sole discretion, refuse to establish your Ionomy.com Account, and limiting to one Ionomy.com Account per user may establish and maintained at any time.
    2. Identify Verification.
      In order to use certain features of the Ionomy.com Services, you may be required to provide us with certain personal information, including but not limited to, your name, address, telephone number, email address, date of birth, and social security number. Ionomy Limited may also require you to answer certain questions or take certain actions in order to verify your identity, provide Ionomy.com Services to you, or comply with applicable law. In submitting this personal information, you verify that the information is accurate and authentic, and you agree to update Virtual Currency if any information changes. You hereby authorize Ionomy Limited to, directly (i) make any inquiries we consider necessary to verify your identity and/or account information, and (ii) request and obtain any consumer report or similar information relating to you and to take action we reasonably deem necessary based on the results of such inquiries.
    3. Terminating an Account.
      Ionomy Limited may (a) suspend or terminate your access to any of the Virtual Currency Services, and (b) deactivate or cancel your Ionomy.com Account as required by a valid subpoena or court order, or if Ionomy Limited reasonably suspects you of using your Ionomy.com Account in furtherance of illegal activity. You will be permitted to transfer Virtual Currency associated with your Virtual Currency Wallet for ninety (90) days after Account deactivation or cancellation unless such transfer is otherwise prohibited (i) under the law, or (ii) by a valid subpoena or court order. If any transaction is in a pending state at the time your Ionomy.com Account is cancelled or suspended, such transaction may be cancelled and/or refunded as appropriate. You may not cancel your Ionomy.com Account to evade an investigation or avoid paying any amounts otherwise due to Virtual Currency. Upon cancellation of your Ionomy.com Account, you authorize Ionomy Limited to cancel or suspend pending Exchange Service transactions and, after providing written notice to the you, return the funds associated with such transactions to your address or bank account, as applicable. In the event that you or Ionomy Limited terminates this Agreement or your access to the Virtual Currency Services, or deactivates or cancels your Virtual Currency Account, you will remain liable for all amounts due hereunder. In the event that a technical problem causes system outage or account errors, Ionomy Limited may temporarily suspend access to your Account until the problem is resolved. You can terminate your Ionomy account at any time by contacting [email protected] with a notification of cancellation
  3. Virtual Currency Wallet. Virtual Currency may use the information provided during registration to establish a wallet (a “Virtual Currency Wallet”). Your Virtual Currency Wallet will be hosted by Virtual Currency and accessible through the Site.
    1. Sending and Receiving Bitcoin
      1. As part of the services offered in connection with your Ionomy.com Account, Ionomy Limited can help you send Virtual Currency to, and request and receive Virtual Currency from, third parties pursuant to instructions you provide through Ionomy Limited Sites (each such transaction is a "Virtual Currency Transaction"). You may initiate a Virtual Currency Transaction by going to a Ionomy.com Site, choosing to send or request, and entering the requisite information regarding the sender or recipient and the amount of Virtual Currency to be transferred. Ionomy Limited will then communicate with the Virtual Currency network on your behalf, as necessary, to facilitate each Virtual Currency Transaction in accordance with these instructions.
      2. Ionomy Limited reserves the right to refuse to process or to cancel any pending Virtual Currency Transaction as required by law or in response to a subpoena, court order, or other binding government order. Ionomy.com cannot reverse a Virtual Currency Transaction which has been communicated to and confirmed by the Virtual Currency network.
      3. Ionomy Limited processes Ionomy.com Transactions according to the instructions received from its users and we do not guarantee the identity of any user, receiver, requestee or other party. You should verify all transaction information prior to submitting instructions to Ionomy.com as the relevant Virtual Currency Transaction may not be cancelled or reversed once initiated.
      4. If you initiate a Ionomy.com Transaction by entering the recipient's Virtual Currency address, Ionomy Limited will confirm that the Virtual Currency address is valid; however, Ionomy Limited cannot confirm that the Virtual Currency address belongs to the intended recipient.
      5. Virtual Currency Storage & Transmission Delays. Ionomy Limited stores 100% of all Virtual Currency private keys in our control in a combination of online and offline storage. As a result, it may be necessary for Ionomy.com to retrieve this information from offline storage in order to facilitate a Ionomy.com Transaction in accordance with your instructions, which may delay the initiation or crediting of such Ionomy.com Transaction for 48 hours or more. As a user of Ionomy.com Services, you accept the risk that a Virtual Currency Transaction facilitated by Ionomy.com may be delayed and you agree not to hold Ionomy.com responsible for any damages or injury arising out of or related to such delay. In the event of a security breach, a delay may be much longer than 48 hours.
      6. Virtual Currency Storage & Transmission Limits. Ionomy.com may impose limits for total number of coins in each account and the total number of coins allowed to be transferred over a period of time.
    2. Your Virtual Currency Transactions.
      1. Third Party Transactions. Ionomy Limited has no control over, or liability for, the delivery, quality, safety, legality or any other aspect of any goods or services that you may purchase or sell to or from a third party (including other users of Ionomy.com Services). Ionomy.com is not responsible for ensuring that a buyer or a seller you are dealing with will actually complete the transaction or is authorized to do so. If you experience a problem with any goods or services purchased from, or sold to, a third party in connection with Ionomy.com transferred using Ionomy Limited Services, or if you have a dispute with such third party, you must handle it directly with that third party. Due to the nature of Virtual Currency, any Virtual Currency Transaction conducted using Ionomy Limited Services is final regardless of any defects in or non-delivery of any goods or services purchased in connection with such Virtual Currency Transaction, or any other aspect of your transaction or relationship with the relevant third party. If you believe a third party has behaved in a fraudulent, misleading, or inappropriate manner, or if you cannot adequately resolve a dispute with a third party, you may notify Ionomy.com Support at [email protected] so that we may consider whether to take any action.
      2. Refunds. Ionomy.com is not responsible for merchant refund policies. Certain merchants may wish to process a refund to you via a separate Ionomy.com Transaction having a value equal to the transaction amount being refunded, as expressed in local currency (e.g., U.S. dollars), based on the then current Conversion Rate. As a result, you may receive less (or more) Virtual Currency via a refund than you initially used to pay the Merchant.
      3. Taxes. It is your sole responsibility to determine whether, and to what extent, any taxes apply to any transactions associated with your receipt or transfer of Virtual Currency, and/or to the Virtual Currency Transactions you conduct through Ionomy Limited Services, and to withhold, collect, report and remit the correct amounts of taxes to the appropriate tax authorities. Your transaction history is available through your Virtual Currency Ionomy.com Account.
      4. Limits. Ionomy.com reserves the right to change the buy/sell, transfer, trading, storage and velocity limits applicable to your Virtual Currency Wallet in our sole discretion. We may require you to provide us with information about yourself and/or your Virtual Currency Transactions if your transactions exceed certain government reporting thresholds, such as thresholds regarding financial recordkeeping and tax reporting.
    3. Advanced Protocols. We do not currently support meta coins, colored coins, or any advanced protocol which supplements the core Virtual Currency Protocol. Ionomy.com does not detect whether Virtual Currency Transactions associated with your Ionomy.com Account may involve any such protocol use. Do not use your Ionomy.com Account to effect any instruction or transfer involving an advanced protocol. Ionomy.com is not responsible for any loss which may result from such use.
  4. USE OF THE Virtual Currency SERVICES.
    1. ION ICO/Crowdsale
      1. Token Value Ion tokens are not money or investment securities. Ion are cryptographic tokens created for use as credits on a decentralized blockchain software application and there are no guarantees of their future use or value.
      2. Refunds. There will be no refunds for any reason. All ION Tokens are sold as-­is without any guarantee.. By participating in the ION ICO/Crowdsale campaign with Ionomy.com, you are confirming that you have read and understand our no refunds policy.
      3. Distribution and Delivery. Ion Tokens will be delivered within 7 days from successful completion of the crowdsale. Tokens will be available in the Ionomy.com account registered at the time of purchase. Ion Tokens will be available for immediate use and withdrawal upon their account crediting.
    2. License. Ionomy Limited grants you a limited, nonexclusive, nontransferable license, subject to the terms of this Agreement, to access and use the Site, and the content, materials, information and functionality available in connection therewith (collectively, the “Content”) solely for information, transactional, or other approved purposes as permitted by Ionomy Limited from time to time. Any other use of the Site or Content is expressly prohibited. All other rights in the Site or Content are reserved by us and our licensors. You will not otherwise copy, transmit, distribute, sell, resell, license, de-compile, reverse engineer, disassemble, modify, publish, participate in the transfer or sale of, create derivative works from, perform, display, incorporate into another website, or in any other way exploit any of the Content or any other part of Ionomy Limited Sites or any derivative works thereof, in whole or in part for commercial or noncommercial purposes. Without limiting the foregoing, you will not frame or display the Site or Content (or any portion thereof) as part of any other web site or any other work of authorship without the prior written permission of Ionomy Limited. If you violate any portion of this Agreement, your permission to access and use Ionomy Limited Services may be terminated pursuant to this Agreement. In addition, we reserve the right to all remedies available at law and in equity for any such violation. “Ionomy.com”, “Virtual Currency”, and all logos related to the Virtual Currency Services or displayed on the Site are either trademarks or registered marks of Ionomy Limited or its licensor. You may not copy, imitate or use them without Ionomy Limited prior written consent.
    3. Third Party Websites. The Site may contain links to third party websites and resources (“Third Party Material”) not controlled by us. You acknowledge and agree that Virtual Currency is not responsible or liable for (i) availability or accuracy of such Third Party Material, (ii) the content, products or services on or available from such Third Party Material. Links to such Third Party Material do not imply any endorsement by Virtual Currency of such Third Party Material or the content, products or services available from such Third Party Material. You acknowledge sole responsibility for and assume all risk arising from your use of any such Third Party Material.
    4. Website and Services Accuracy. Although Ionomy Limited intends to provide accurate and timely information on each Service, the Services (including, without limitation, the Content) may not always be entirely accurate, complete or current and may also include technical inaccuracies or typographical errors. In an effort to continue to provide you with as complete and accurate information as possible, information may be changed or updated from time to time without notice, including without limitation information regarding our policies, products and services. Accordingly, you should verify all information before relying on it, and all decisions based on information contained on Ionomy Limited Sites and Services are your sole responsibility and we shall have no liability for such decisions.
    5. Application Programming Interface. Any person or entity who uses Ionomy Limited Application Programming Interface ("API") must comply with the terms of this User Agreement and/or any other conditions as Ionomy Limited may put into place in its sole discretion from time to time. The API is owned by Ionomy Limited and is licensed to API users on a non-exclusive, non-sublicensable basis. Ionomy Limited reserves the right to restrict or limit use when, in its sole discretion, we identify abusive, burdensome, or prohibited use of the API.
    6. Fiduciary Accounts/Custodial Assets. You hereby certify to us that any funds used by you in connection with Ionomy Limited Services are either owned by you or that you are validly authorized to carry out transactions using such funds. In particular, you acknowledge that Virtual Currency Ionomy.com Services may not be a qualified custodian under applicable law, and represent that your use of Ionomy Limited Services is in compliance with any applicable requirements governing the maintenance and use of fiduciary accounts and custodial assets.
    7. Restricted Activity. In connection with your use of the Ionomy Limited Services, you will not:
      - Violate or assist any party in violating any law, statute, ordinance, regulation or any rule of any self-regulatory or similar organization of which you are or are required to be a member;
      - Engage in a transaction involving the proceeds of any unlawful activity;
      - Defraud or attempt to defraud Ionomy Limited;
      - Provide false, inaccurate or misleading information;
      - Infringe upon Virtual Currencies or any third party’s copyright, patent, trademark, or intellectual property rights;
      - Take any action that imposes an unreasonable or disproportionately large load on our infrastructure, or detrimentally interfere with, intercept, or expropriate any system, data, or information;
      - Transmit or upload any material to the Site that contains viruses, Trojan horses, worms, or any other harmful or deleterious programs;
      - Act as a payment intermediary or aggregator or otherwise resell any of the Virtual Currency Services, unless expressly authorized by Ionomy Limited in writing;
      - Hold yourself out as an agent of Ionomy Limited unless expressly authorized by Ionomy Limited in writing;
      - Otherwise attempt to gain unauthorized access to the Site, other Virtual Currency Accounts, computer systems or networks connected to the Site, through password mining or any other means; or
      - Transfer any rights granted to you under this Agreement.
      - Virtual Currency reserves the right at all times to monitor, review, retain and/or disclose any information as necessary to comply with any applicable law, regulation, legal process or governmental request.
    8. Export Controls & Sanctions. The supply of Virtual Currency and Ionomy Limited Services through Ionomy Limited Site is subject to Republic of Seychelles and international export controls and economic sanctions requirements. By acquiring any such items through Ionomy Limited Site, you represent and warrant that your acquisition comports with and your use of the item will comport with those requirements. Without limiting the foregoing, you may not acquire Virtual Currency or any of Ionomy Limited Services through Ionomy Limited Site if: (1) you are in, under the control of, or a national or resident of Cuba, Iran, North Korea, Sudan or Syria or any other country subject to Republic of Seychelles embargo, UN sanctions, HM Treasury's financial sanctions regime, or if you are on the U.S. Treasury Department's Specially Designated Nationals List or the U.S. Commerce Department's Denied Persons List, Unverified List, Entity List HM Treasury's financial sanctions regime; or (2) you intend to supply the acquired Virtual Currency or Ionomy Limited Services to Cuba, Iran, North Korea, Sudan or Syria or any other country subject to Republic of Seychelles embargo or UN sanctions (or a national or resident of one of these countries), or to a person on the Specially Designated Nationals List, Denied Persons List, Unverified List, Entity List, or HM Treasury's financial sanctions regime.
    9. We reserve the right at all times to monitor, review, retain and/or disclose any information as necessary to satisfy any applicable law, regulation, legal process or governmental request. We reserve the right to cancel and/or suspend your Virtual Currency Ionomy.com Account immediately and without notice if we determine, in our sole discretion, that your Account is associated with Prohibited Use, and/or a Prohibited Business, and or illegal activity in Republic of Seychelles & your legal location.
    10. Exchange Services. When you submit a new exchange order via the Services, you authorize us to execute a transaction in accordance with such order on a spot basis and charge you any applicable fees
      1. Independent relationship. You agree that: (a) we are not acting as your broker, intermediary, agent, or advisor, or in any fiduciary capacity, and (b) no communication or information provided to you by us shall be considered or construed as advice..
      2. Trade confirmation. Before a trade is placed, a confirmation dialogue summarizes the details of the proposed transaction, including the number of coins you are trying to buy or sell, the price, the applicable fees, and the total cost of the transaction. Once the Services execute your exchange transaction, your account’s order book will be updated with either the open trade request, or a closed order that was fulfilled. You agree that the failure of the Services to provide such confirmation shall not prejudice or invalidate the terms of such trade.
      3. Market volatility. You agree that we are not liable for any price fluctuations in Virtual Currency. In the event of a market disruption or Force Majeure Event, we may do one or more of the following: (a) suspend access to the Services; or (b) prevent you from completing any actions via the Services, including closing any open positions. We will not be liable for any losses suffered by you resulting from such actions. Following any such event, when exchange transactions resume, you acknowledge that prevailing market rates may differ significantly from the rates available prior to such event.
      4. Exchange Settlement. Subject to the terms and conditions in these Terms, we will use commercially reasonable efforts to settle exchanges on a spot basis within two business days of the date upon which users have agreed to execute an exchange via the Services.
      5. Risk Disclosure There are risks associated with utilizing an Internet-based trading system including, but not limited to, the failure of hardware, software, and Internet connections. You agree that we shall not be responsible for any communication failures, disruptions, errors, distortions, or delays you may experience when trading via the Services, however caused.
    11. Atoms. In relation to Atoms based crowdfunding you acknowledge that your contribution (whether financial or otherwise) does not entitle you to any rights, including any ownership, control or intellectual property rights. Atoms is not a company share offering, but a loyalty and services program specialised to work within the Ionomy.com platform to reward its loyal members and help fund the development of the Ionomy.com services.
    12. Atoms Auction
      1. Selling. Listings are Atoms you are listing for auction. A non-refundable auction fee of 5% of the initial listing price will be deducted from your account balance instantly and the Atoms in the listing will be placed in escrow. If you receive one or more bids at or above the minimum sale price, the System will complete the transaction when the auction timer has expired transferring your Atoms and the buyers funds from escrow. You may not contact bidders in a current auction being conducted by another seller, to interfere with or compete against that seller.
      2. Bidding If you bid on a listing the bid amount will be deducted from your ionomy.com account balance and placed in bid escrow until such time that you are a.) outbid by another bidder or b.) the winning bidder for the listing. Should you be outbid prior to the auction expiration time, your bid will immediately be refunded to your ionomy.com account balance. If you are you the winner of the auction listing you have bid on, the system will process the trade at the expiration of the auction timer. Your escrowed bid funds will be transferred to the seller, and Atoms from the listing to you.
      3. Auction Timer Should a listing receive a bid in the final 180 seconds (3 minutes) of the auction, the auction time will extend itself to 300 seconds (5 minutes) and resume counting down. The auction will continue to extend until no further bids have been received for a total of 3 consecutive minutes.
      4. Refunds and Cancellation. All listings and bids are final upon their confirmation and placement. ionomy.com support will not cancel a listing or bid for any reason, including any error made by yourself.
  5. DISPUTES WITH Virtual Currency Ionomy.com SERVICES.
    1. Notice. If you believe Ionomy Limited committed an error, please contact us at [email protected]. Please provide us with information sufficient to identify you, your Ionomy.com Account, your order confirmation code and any other information about the transaction that you can provide. You must contact us within 30 days after the transaction occurred. We will use our best efforts to either correct the error or explain to you why we believe that transaction was correct within 30 days of receiving your request. Any claim of an error received after 30 days from the date of the alleged error shall be null and void.
    2. Arbitration. Except for claims for injunctive or equitable relief or claims regarding intellectual property rights (which may be brought in any competent court without the posting of a bond), any dispute arising out of or in connection including any question regarding its existence, validity or termination, shall be referred to and finally resolved by arbitration in Republic of Seychelles in accordance with the Arbitration Rules of the Republic of Seychelles International Arbitration Centre (“SIAC Rules”) for the time being in force, which rules are deemed to be incorporated by reference in this clause. The seat of the arbitration shall be Republic of Seychelles, Republic of Seychelles. The Tribunal shall consist of 1 Arbitrator(s). The language of the arbitration shall be English. At your request, hearings may be conducted in person or by telephone and the arbitrator may provide for submitting and determining motions on briefs, without oral hearings, consumer-related disputes and you and Ionomy Limited hereby expressly waive trial by jury. The prevailing party in any action or proceeding to enforce this agreement shall be entitled to costs and attorneys’ fees. Additionally, you hereby waive your right to participate in a class action lawsuit or class-wide arbitration.
    3. Indemnification. You agree to indemnify, defend and hold Ionomy Limited, its affiliates and service providers, and each of their respective officers, directors, agents, joint venturers, employees and representatives, harmless from any claim or demand (including attorneys’ fees and costs and any fines, fees or penalties imposed by any regulatory authority) arising out of or related to (i) your breach of this Agreement, (ii) your mis-use of Virtual Currency Services, or (iii) your violation of any law, rule or regulation, or the rights of any third party.
    4. Force Majeure. We shall not be liable for delays, failure in performance or interruption of service which result directly or indirectly from any cause or condition beyond our reasonable control, including but not limited to, any delay or failure due to any act of God, act of civil or military authorities, act of terrorism, civil disturbance, war, strike or other labor dispute, fire, interruption in telecommunications of Internet services or network provider services, failure of equipment and/or software, other catastrophe or any other occurrence which is beyond our reasonable control and shall not affect the validity of enforceability of any remaining provisions.
    5. Assignment. This Agreement, and any rights and licenses granted hereunder, may not be transferred or assigned by you, but may be assigned by Virtual Currency without restriction, including without limitation to any of its affiliates or subsidiaries, or to any successor in interest of any business associated with the Virtual Currency Services. Any attempted transfer or assignment in violation hereof shall be null and void. Subject to the foregoing, this Agreement will bind and inure to the benefit of the parties, their successors and permitted assigns.
    6. Severability. If any provision of this Agreement shall be determined to be invalid or unenforceable under the rule, law or regulation or any governmental agency, local, state, or federal, such provision will be changed and interpreted to accomplish the objectives of the provision to the greatest extent possible under any applicable law and the validity of enforceability of any other provision of this Agreement shall not be affected.
    7. Entire Agreement. This Agreement sets forth the entire understanding and agreement between you and Ionomy Limited as to the subject matter hereof, and supersedes any and all prior discussions, agreements and understandings of any kind (including without limitation any prior versions of this Agreement), and every nature between and among you and Virtual Currency.
    8. Governing Law. This Agreement shall be governed, construed, and enforced in accordance with the laws of Republic of Seychelles, without regard to its conflict of laws rules.