Terms of Service

Last updated: 02/22/2026

Scope

These terms, and the accompanying privacy policy at won.trade, which is incorporated into and a part of these terms, govern the use of the WON website at won.trade, the WON mobile application, and the associated tools and services.

Collectively, the website, mobile application, and the associated tools and services are referred to as the "Services" in these terms. The operator may offer other products and services.

The Services do not include outside websites or platforms which may be linked or interconnected to the Services. Such outside platforms may have their own terms of service, which control for all transactions on such platforms. These outside platforms may include, but are not limited to:

• The Hyperliquid interface, owned by Hyperliquid Corp., at app.hyperliquid.xyz
• Third-party wallet providers
• Third-party exchange platforms

The operator is not responsible for any transactions on other platforms and disclaims all liability for such transactions.

These terms include important provisions governing your use of the Services. These provisions affect such matters as your right to use the Services, actions you are prohibited from taking with respect to the Services, disclaimers regarding liability, and your waiver of the right to bring a suit in a court of law and to a jury trial, and the requirement that any dispute between you and the operator be resolved by binding individual arbitration. Before using the Services, make sure that you read and understand all of these terms and the accompanying privacy policy.

Won Research Inc., a Delaware corporation, operates the Services. It and its affiliates are referred to in this document as the "operator," "we," or "us."

Important Terms

These terms include a number of especially important provisions that affect your rights and responsibilities, such as the disclaimers in Disclaimers, limits on the operator's legal liability to you in Limits on Liability, your agreement to reimburse the operator for problems caused by your misuse of the Services in Your Responsibility, and an agreement about how to resolve disputes in Disputes.

Your Permission to Use the Services

Subject to these terms, the operator gives you permission to use the Services. You can't transfer your permission to anyone else. Others need to agree to these terms for themselves to use the Services.

Conditions for Use of the Services

Your permission to use the Services is subject to the following conditions:

• You must be at least eighteen years old.
• You are not barred from using the Services under applicable law.
• You may no longer use the Services if the operator tells you that you may not.
• You must follow Acceptable Use and Content Standards.
• You are not a resident, national, or agent of the Crimea region, Cuba, Iran, North Korea, Syria, or any other country to which the United States, the United Kingdom, or the European Union embargoes goods or imposes similar sanctions.
• You have not been identified as a Specially Designated National or placed on any sanctions list by the U.S. Treasury Department's Office of Foreign Assets Control, the U.S. Commerce Department, or the U.S. Department of State; and you will not use our Services to conduct any illegal or illicit activity.
• You have not been placed on any of the following lists: European External Action Service Consolidated Financial Sanctions List; EU Terrorist List; FATF Non-Cooperative Countries and Territories; Federal Bureau of Investigation Most Wanted Terrorists & Seeking Information; Bank of England Sanctions List; HM Treasury Sanctions List; Politically Exposed Persons List; World Bank Ineligible Firms; Department of Foreign Affairs and Trade Consolidated List.

The Services

The WON application is a software interface that provides real-time cryptocurrency market data visualization, interactive charting tools, portfolio tracking, social trading features, and community engagement tools. The application connects to third-party decentralized exchange protocols, including but not limited to the Hyperliquid protocol (the "Protocol"), via read-only and user-initiated API interactions.

The application provides an interface which allows users to view market data, track portfolio positions, access community features, and initiate interactions with third-party protocols. Users may connect their own self-custodied wallets to view their positions and, where applicable, submit transactions directly to the Protocol's smart contracts.

All transactions on the Protocol operate in a peer-to-peer manner. Users who interact with the Protocol enter into a direct contractual relationship with other users and/or supported third-party protocols via the autonomous smart contracts underlying the Protocol, and there is no further control by or interaction with the operator. The operator is not a party to this peer-to-peer direct contractual relationship and is not liable for performance of any obligations thereunder.

The application provides a visual user interface and does not act as an agent for any of the users. Although the application is intended to display accurate and timely information, it may not always be entirely accurate, complete, or current and may also include technical inaccuracies or typographical errors.

Neither the operator nor the application provides any digital asset exchange, brokerage, or portfolio/fund management services in connection with any transaction. If you choose to engage in transactions on the Protocol or any third-party platform, then such decisions and transactions and any consequences flowing therefrom are your sole responsibility.

The operator reserves the right to suspend or terminate access to the application by any user for any reason whatsoever. You agree that the operator will not be liable to you or to any third party for any suspension or termination of any user.

Non-Custodial

The application is non-custodial in nature. The application does not hold, control, or custody your digital assets at any time. Any digital assets which you may acquire through the usage of the application or any connected protocol will be held and administered solely by you; you remain in full control of your digital assets, which are not held or controlled in any way by the operator.

We will not create any hosted wallet for you or otherwise custody digital assets on your behalf. You are solely responsible for safekeeping your private keys and wallet credentials.

Subscription Services

The operator may offer premium subscription plans that provide access to advanced features, enhanced charting tools, real-time alerts, and additional social tools. Subscription fees are billed on a monthly or annual basis, as selected by you at the time of purchase.

You may cancel your subscription at any time. Upon cancellation, you will retain access to premium features until the end of your current billing period. No refunds will be issued for partial billing periods.

The operator reserves the right to modify subscription pricing and features with reasonable advance notice.

Acceptable Use

You may not break the law using the Services. This includes breaking any applicable law, rule, or regulation concerning the integrity of trading markets, such as wash trading, spoofing, or any other practice intended to deceive market participants. This also includes money laundering, terrorism financing, proliferation financing, or any other illegal financial activity.

You may not exploit any errors, bugs, vulnerabilities, or unintended features of the Services, or any associated code.

You may not use or try to use anyone else's account on the Services without their specific permission.

You may not buy, sell, or otherwise trade usernames or other unique user or account identifiers on the Services.

You may not make publicly available the personal information of other people using the Services.

You may not send advertisements, chain letters, or other solicitations through the Services, or use the Services to gather addresses for distribution lists.

You may not falsely imply that you're affiliated with or endorsed by the operator.

You may not disable, avoid, or circumvent any security or access restrictions of the Services.

You may not strain infrastructure of the Services with an unreasonable volume of requests, or requests designed to impose an unreasonable load on information systems the operator uses to provide the Services.

You may not impersonate others through the Services.

You may not reverse engineer or "decompile" any of the Services.

You may not encourage or help anyone in violation of these terms.

Content Standards

You may not engage in conduct or submit content to the Services that is illegal, defamatory, offensive, or otherwise harmful to others. This includes conduct or content that is harassing, inappropriate, or abusive.

You may not engage in conduct or submit content to the Services that violates the law, infringes anyone's intellectual property rights, violates anyone's privacy, or breaches agreements you have with others.

You may not submit content to the Services containing malicious computer code, such as computer viruses or spyware.

The operator shall have the sole right to determine whether any of the provisions in this section have been violated.

Enforcement

The operator may investigate and prosecute violations of these terms to the fullest legal extent. The operator may notify and cooperate with law enforcement authorities in prosecuting violations of the law and these terms.

The operator reserves the right to change, redact, and delete content on the Services for any reason. If you believe someone has submitted content to the Services in violation of these terms, contact the operator immediately.

Your Information

You agree to:

• Provide accurate, current, and complete information about you if requested by any registration or subscription forms on the Services or otherwise requested by the operator;
• Maintain the security of your password and identification;
• Maintain and promptly update any information you provide to the operator, to keep it accurate, current, and complete;
• Promptly notify the operator regarding any material changes to information or circumstances that could affect your eligibility to continue to use the Services; and
• Be fully responsible for all use of your account on the Services and for any actions that take place using your account.

Third-Party Service Providers

To provide the Services, the operator may use third-party service providers. You authorize us to share your information with these service providers as necessary for the provision of the Services.

Third-party service providers may include:

• Stripe — Payment processing for subscriptions
• Apple — App Store distribution and in-app purchases
• Google — Analytics and services
• Cloudflare — Infrastructure and security
• Vercel — Hosting
• AWS — Cloud infrastructure

Your Content

The operator is not obligated to review or edit any user-submitted content on the Services.

Nothing in these terms gives the operator any ownership rights in content or intellectual property that you share with the Services. Nothing in these terms gives you any ownership rights in the operator's content or intellectual property, either. Unless otherwise noted, the operator owns the intellectual property of the Services and all content it has posted.

Between you and the operator, you remain solely responsible for content you submit to the Services. You agree not to wrongly imply that content you submit to the Services is from, sponsored by, or approved by the operator.

Content you submit to the Services belongs to you, and you decide how to license it to others. At a minimum, you license the operator to provide content that you submit to the Services to other users of the Services.

Our Content

Unless otherwise stated, the operator and/or its licensors own the intellectual property rights for all material in the Services. All intellectual property rights are reserved.

You may not republish, sell, rent, sub-license, reproduce, duplicate, or copy content from the Services, except with regard to your own content, or content to which you hold a suitably permissive license.

Your Responsibility (Indemnification)

You agree to reimburse the operator for all the costs of legal claims by others related to your breach of these terms, or breach of these terms by others using your account, or arising out of your use of the Services.

Disclaimers

You accept all risk of using the Services and their content. As far as the law allows, the operator provides the Services and its content "as is," without any warranty whatsoever.

You confirm that you accept all risk associated with your personal financial, cryptocurrency, and other digital asset holdings, transfers, and interactions with third-party protocols.

You accept all risks involving: (a) failures or inaccuracies in third-party data feeds, oracles, or liquidity pools; (b) code vulnerabilities, including potential hacks or exploits of third-party protocols; (c) significant slippage or other market risks arising from digital asset trading; (d) the risks of trading with leverage, which may lead to immediate and significant losses, including the liquidation of your positions; and (e) potential regulatory or legal issues affecting blockchain transactions or their enforceability.

These terms do not impose any fiduciary duties on the operator. The operator owes no fiduciary duties or liabilities to you or any other party based on your use of the Services.

The operator and its affiliates do not provide investment advice or a recommendation of securities or investments. You should always obtain independent investment and tax advice from your professional advisers before making any investment decisions.

Digital assets are not legal tender, are not backed by the government, and are not subject to any deposit insurance scheme or protections under any banking or securities laws.

The prices of blockchain assets are extremely volatile. Fluctuations in the price of digital assets could materially and adversely affect the value of your digital assets. We cannot guarantee that any users interacting with the Services will not lose money.

Limits on Liability

As far as the law allows, neither you nor the operator will be liable to the other for any: (1) financial losses; (2) loss of use, data, business, or profits; or (3) indirect, special, consequential, exemplary, punitive, or any other damages arising out of or relating to the Services or these Terms of Service.

The cumulative total liability of both you and the operator, for any and all breaches of these Terms of Service, is not to exceed one thousand US Dollars ($1,000.00 USD) OR the amount paid by you to the operator as fees for the use of the Services, whichever is smaller.

Termination

Either you or the operator may end this agreement at any time. When this agreement ends, your permission to use the Services also ends.

If you violate any provision of this agreement for any reason, this agreement will automatically terminate and you must cease and desist from any further use of the Services.

Disputes

The law of Delaware will govern these terms and all legal proceedings related to these terms or your use of the Services.

We both agree that all disputes related to the Services under these terms, including whether such disputes are arbitrable, will be heard by arbitration. The arbitration will be in English, heard by one arbitrator, and conducted by JAMS.

Both sides waive their rights to trial by jury, and agree to bring any legal claims related to this agreement as individuals, not as part of a class action or other representative proceeding.

General Terms

If a section of these terms is unenforceable as written, but could be changed to make it enforceable, that section should be changed to the minimum extent necessary to make it enforceable. Otherwise, that section should be removed, and the others should be enforced as written.

You may not assign this agreement. The operator may assign this agreement to any affiliate of the operator, any other company that obtains control of the operator, or any other company that buys assets of the operator related to the Services.

These terms, plus the terms on any Services incorporating them by reference, are all the terms of agreement between you and the operator about use of the Services.

Contact

You may notify the operator under these terms, and send questions to the operator, at dev@won.trade.

Changes

The operator may update the terms of service for the Services. The operator will post all updates to the Services.

Once you get notice of an update to these terms, you must agree to the new terms in order to keep using the Services.