Last Updated: June 15, 2026
Our services are not available to individuals or entities residing in, citizens of, incorporated in, or having a registered office in the United States of America or any Restricted Territory as defined herein.
We do not make exceptions. If you are a Restricted Person, please refrain from using our Interface. The use of a virtual private network (VPN) or any similar means to access our services as a Restricted Person or from a Restricted Territory is strictly prohibited.
Welcome to the WaterX Interface (https://waterx.app), provided by the Water Labs Ltd., a company incorporated in the Cayman Islands (collectively as "WaterX", "we", "us", or "our"). The Interface provides access to a decentralized perpetual trading protocol for Real World Assets (RWA) and digital assets, built on the Sui Network. Through WaterX, users can open and manage leveraged perpetual positions, provide liquidity to the WaterX Liquidity Pool (WLP), and interact with other protocol features as made available from time to time.
By using the Interface, you agree to be bound by these Terms of Service (the "Terms") and any additional terms and conditions referenced herein. Please read and understand the Terms carefully. Your access, browsing, or use of the Interface—or your acknowledgment of agreement on the Interface—constitutes your acceptance of all the Terms, including our Privacy Policy (which is incorporated herein by reference). The Terms contain important information, including provisions on dispute resolution such as a binding arbitration clause and class action waiver, that materially affect your rights.
The Interface is not available to, and must not be accessed or used by, any Restricted Person, as defined in Exhibit A. We do not make exceptions.
Use of a VPN, proxy, or any other technological means to circumvent jurisdictional restrictions is strictly prohibited and constitutes a material breach of these Terms.
WaterX reserves the right to deny or restrict access to the Interface to any individual, entity, jurisdiction, or geographic location, at our sole discretion and without prior notice. We are not liable for any losses or damages resulting from the unavailability of the Interface to Restricted Persons or in Restricted Territories.
WaterX reserves the right to modify, amend, or update the Terms at any time at its sole discretion. When changes are made, the updated Terms will be posted on the Interface and the "Last Updated" date at the top of the Terms will be revised accordingly. We recommend reviewing the Terms regularly. Revised Terms become effective upon posting, and your continued use of the Interface after such posting constitutes your binding acceptance of the changes. If you do not agree with the revised Terms, you must immediately cease accessing or using the Interface.
To access and use the Interface, you represent and warrant that:
We retain the right to restrict or terminate your access to the Interface if we determine, in our sole discretion, that you have violated any provision of these Terms or if we reasonably believe that you no longer meet the eligibility requirements set forth herein.
Access to the Interface is strictly prohibited for any Restricted Person, including individuals or entities located in, incorporated in, or otherwise affiliated with any Restricted Territory or Excluded Jurisdiction.
You agree not to use a VPN, proxy service, or any other technological means to obscure your geographic location or identity for the purpose of circumventing these access restrictions. Any attempt to access the Interface while concealing or misrepresenting your location or jurisdiction constitutes a material breach of these Terms.
We reserve the right to limit or deny access to the Interface to any individual, entity, geographic location, or legal jurisdiction as we deem necessary and appropriate. We are not responsible for any losses or damages incurred by you as a result of the unavailability of the Interface, regardless of the cause or circumstances.
For compliance, legal, security, operational, risk management, fraud prevention, sanctions, anti-money laundering, market abuse, or other legitimate business reasons, WaterX may, at any time and in its sole discretion, without prior notice: (i) require you to provide additional information or documentation relating to your identity, location, authority, beneficial ownership, source of funds, wallet ownership, or use of the Interface; (ii) refuse, delay, suspend, restrict, cancel, or reverse any transaction, withdrawal, deposit, redemption, reward, referral benefit, or feature access; (iii) place administrative holds on accounts, positions, rewards, or pending transactions; and (iv) disclose relevant information to its affiliates, service providers, professional advisors, auditors, insurers, regulators, courts, arbitrators, or law enforcement authorities to the extent reasonably necessary or permitted by applicable law. WaterX shall have no liability for any loss, delay, restriction, cancellation, hold, or unavailability resulting from actions taken under this Section.
WaterX retains all intellectual property and other rights in the WaterX Interface and its contents, including but not limited to software, text, images, trademarks, service marks, copyrights, patents, and designs. Unless expressly authorized by us, you may not copy, modify, adapt, rent, license, sell, publish, distribute, or permit any third party to access or use the Interface or its contents. Your access to and use of the Interface does not grant you any proprietary intellectual property or other rights in the Interface or its contents.
You retain ownership of all intellectual property and other rights in any information or materials you submit through the Interface. However, by submitting such information or materials, you grant us a worldwide, royalty-free, irrevocable license to use, copy, distribute, publish, and transmit such data in any manner consistent with applicable laws and regulations.
You may choose to submit comments, bug reports, ideas, or other feedback about the Interface ("Feedback"). By submitting Feedback, you agree that we may use such Feedback at our discretion without additional compensation to you, and may disclose such Feedback to third parties on a non-confidential basis. To the extent required by applicable law, you grant us a perpetual, irrevocable, non-exclusive, transferable, worldwide license to incorporate and use your Feedback for any purpose. You also acknowledge that WaterX has no obligation to review, implement, maintain the confidentiality of, or compensate you for any Feedback.
If you meet all eligibility requirements and comply with these Terms, you are granted a limited, personal, non-exclusive, non-transferable license to access and use the Interface. This license may be revoked by us at any time without notice or cause. Any use of the Interface not expressly permitted by these Terms is strictly prohibited.
Please note that, unlike the Interface, the WaterX itself consists of open-source smart contracts deployed on the public Sui Network and is not our proprietary property.
The WaterX Protocol provides a variety of decentralized trading, liquidity, prediction market, and related services. Each feature involves distinct risks that you acknowledge and accept.
The Interface allows you to open, maintain, modify, reduce, and close leveraged perpetual positions on supported assets, including digital assets and tokenized representations of real-world assets.
Perpetual contracts do not have a fixed expiration date and may be subject to funding fees, rollover fees, liquidation mechanisms, auto-deleveraging mechanisms, price impact, slippage, and other trading-related risks.
You acknowledge that leveraged trading involves substantial risk and that you may lose all collateral deposited into your WaterX Account.
The Interface may permit users to participate in informational prediction markets relating to future events, including but not limited to digital asset markets, sports events, political events, entertainment events, economic indicators, and other events made available by WaterX from time to time.
Prediction Markets may be structured as binary markets (including YES/NO, UP/DOWN, win/loss, and similar formats) or multi-outcome markets involving multiple mutually exclusive outcomes.
Prediction Markets are informational markets only and are not intended to constitute gambling, wagering services, betting services, securities trading, investment products, financial instruments, brokerage services, investment advisory services, or financial advice.
Participation in Prediction Markets involves substantial risk, including the risk of losing the entire amount committed to a position.
Any probability, implied probability, odds, projected return, expected return, payout estimate, market sentiment indicator, or similar metric displayed on the Interface is derived from market activity, pricing mechanisms, or other data sources and is provided solely for informational purposes.
Such information does not constitute a prediction, guarantee, recommendation, representation, or opinion of WaterX.
WaterX may rely upon official sources, governing bodies, event organizers, public records, oracle networks, third-party data providers, blockchain data, or other information sources deemed reasonably reliable.
WaterX may manually resolve, cancel, void, refund, suspend, postpone, modify, or otherwise determine the outcome of any market where information is unavailable, delayed, disputed, manipulated, inconsistent, corrupted, incomplete, or otherwise unsuitable for automated settlement.
Markets may be subject to cancellation, refund, voiding, suspension, postponement, manual settlement, or alternative resolution methods where necessary due to technical issues, force majeure events, legal or regulatory concerns, market manipulation, insufficient information, operational considerations, or any other circumstance that WaterX reasonably determines may affect the integrity of market settlement.
All determinations made by WaterX regarding market resolution, settlement, cancellation, refund, suspension, modification, or voiding shall be final, conclusive, and binding.
Certain Prediction Markets may contain multiple mutually exclusive outcomes.
Displayed probabilities, odds, prices, implied probabilities, and market indicators may not sum to one hundred percent (100%) and may reflect spreads, liquidity conditions, fees, market inefficiencies, pricing methodologies, risk adjustments, or other factors.
Such values are provided solely for informational purposes and do not represent any guarantee, forecast, recommendation, opinion, or representation by WaterX.
WaterX may permit users to close, reduce, transfer, or sell positions prior to final settlement.
Displayed exit prices, estimated proceeds, projected returns, expected returns, and similar values are estimates only and do not guarantee execution at any particular price.
Execution may be affected by liquidity constraints, slippage, network delays, transaction failures, oracle updates, market conditions, technical issues, settlement restrictions, or other factors.
Markets that have entered a settlement, resolution, or similar stage may not permit position sales, transfers, or early exits.
WaterX makes no representation or warranty that any position can be exited prior to settlement or that any estimated value will be realized.
Users may share information regarding positions, predictions, performance, outcomes, returns, probabilities, or market activity through WaterX-provided tools.
Any shared content is provided solely by the applicable user.
WaterX does not endorse, verify, guarantee, or assume responsibility for any shared content.
Shared positions, predictions, returns, performance information, probabilities, forecasts, or related content do not constitute financial advice, investment advice, betting advice, legal advice, tax advice, or recommendations.
WaterX may permit users to create, distribute, receive, or participate in promotional Position Gifts or similar features.
Position Gifts are promotional features only and do not constitute deposits, investments, securities, ownership interests, compensation, guarantees of profit, or vested rights.
Receipt of a Position Gift does not create any ownership interest, contractual entitlement, investment relationship, vested right, guarantee of profit, compensation right, or expectation of future benefits.
Position Gifts may be subject to eligibility requirements, participation limits, expiration dates, geographic restrictions, compliance reviews, or other conditions imposed by WaterX.
WaterX may reject, suspend, revoke, cancel, modify, limit, or terminate any Position Gift at any time for compliance, security, operational, anti-abuse, technical, legal, or risk-management reasons.
WaterX may offer rebates, refunds, incentives, promotional rewards, tokens, credits, points, distributions, referral rewards, or similar promotional benefits.
Such programs are promotional in nature and do not create any contractual entitlement, vested right, guarantee, expectation of compensation, or obligation on the part of WaterX.
Eligibility, distribution amounts, timing, requirements, methodologies, and valuation of any promotional benefit may be determined by WaterX in its sole discretion.
Promotional benefits may be distributed in forms different from the original asset used by a user, including digital assets, points, credits, vouchers, or other forms of rewards.
WaterX may modify, suspend, terminate, revoke, refuse, adjust, discontinue, reclaim, reverse, offset, or claw back any such program or benefit at any time without prior notice.
WaterX may investigate and determine, in its sole discretion, whether one or more accounts are controlled by the same person, entity, or coordinated group.
WaterX may withhold, reverse, cancel, reclaim, claw back, revoke, reduce, or refuse any rewards, incentives, rebates, refunds, promotional benefits, Position Gifts, points, referral rewards, or distributions where WaterX reasonably suspects abuse, fraud, manipulation, sybil activity, multi-accounting, collusion, referral abuse, geographic restriction evasion, market manipulation, wash trading, or other prohibited conduct.
WaterX reserves the right to suspend, restrict, terminate, or otherwise limit participation in any Prediction Market, Position Gift, incentive program, referral program, or promotional feature where abuse or prohibited conduct is suspected.
Notwithstanding anything to the contrary contained in these Terms, WaterX reserves the right, at any time and in its sole discretion, to modify, suspend, discontinue, restrict, refuse, cancel, reverse, delay, limit, or remove any Prediction Market, promotional feature, Position Gift, referral program, reward program, incentive campaign, market resolution process, or related functionality.
WaterX shall not be liable for any losses, damages, costs, expenses, or claims arising from the exercise of its rights under this Section.
The Interface allows users to deposit supported assets into the WaterX Liquidity Pool ("WLP") in exchange for WLP tokens representing a proportional interest in the pool.
WLP participants act as the collective counterparty to traders on the Protocol and may be exposed to trader profits and losses, liquidity fluctuations, utilization risks, and other risks associated with liquidity provision.
Withdrawals may be subject to waiting periods, queues, liquidity constraints, utilization thresholds, operational restrictions, or other conditions determined by WaterX.
To interact with certain features of the Protocol, users may be required to create a WaterX Account.
A WaterX Account is an on-chain account structure used to manage collateral, positions, balances, and other Protocol interactions.
Users remain solely responsible for all activity associated with their wallets, credentials, delegated permissions, and accounts.
The Interface may display balances, collateral values, profits, losses, fees, positions, rewards, incentives, or other accounting information using an internal accounting unit referred to as "wxUSD".
wxUSD is solely an internal accounting and settlement unit utilized by the Protocol.
wxUSD does not constitute legal tender, fiat currency, electronic money, stored value, stablecoin, deposit account, bank account, security, commodity, investment contract, or financial instrument.
The Interface may provide referral features that permit users to generate referral links, referral codes, invitations, or similar promotional tools.
Eligibility, rewards, qualification requirements, and distribution methodologies may be modified, suspended, revoked, or terminated at any time at WaterX's sole discretion.
Advanced users may access certain Protocol functionality through APIs, SDKs, delegated permissions, session keys, automation tools, or signless trading functionality.
Users are solely responsible for the security of all devices, credentials, delegated permissions, session keys, automation configurations, and signless trading settings.
Any instruction, transaction, request, authorization, or action submitted through a user's wallet, account, API credentials, delegated permissions, session keys, automation systems, or signless trading environment shall be deemed authorized by the user.
WaterX shall have no obligation to verify the authenticity, authority, accuracy, or legitimacy of any such instruction or transaction.
You agree not to engage in, or attempt to engage in, any of the following categories of prohibited activity in relation to your access or use of the Interface:
When the WaterX detects or receives a report that you have violated the clauses aforementioned, you acknowledge and agree that WaterX has the right to suspend your account and prohibit you from registering on WaterX again without prior notice or your consent.
WaterX may investigate any suspected prohibited activity and may take any action it deems appropriate, including suspension or termination of access, blocking or canceling transactions, withholding, voiding, or clawing back rewards, referral benefits, or promotional incentives, restricting feature access, and cooperating with regulators or law enforcement authorities.
All information provided in connection with your access and use of the Interface is for informational purposes only and should not be construed as financial, investment, legal, tax, or other professional advice. You should not take, or refrain from taking, any action based solely on any information contained in the Interface or any other content that we make available, including blog posts, articles, tutorials, market data, or social media content. Before making any financial or other decisions involving the Interface, you should seek independent professional advice from a licensed and qualified professional.
These Terms are not intended to, and do not, create or impose any fiduciary duties on us. To the fullest extent permitted by law, you acknowledge and agree that we owe no fiduciary duties or liabilities to you or any other party, and any such duties or liabilities are hereby irrevocably disclaimed, waived, and eliminated. The only duties and obligations we owe you are those expressly set out in these Terms.
WaterX does not act as a broker, dealer, investment adviser, fiduciary, trustee, financial intermediary, agent, or representative of any user.
The Interface is provided on an "AS IS" and "AS AVAILABLE" basis. To the fullest extent permitted by law, we disclaim any and all representations and warranties of any kind, whether express, implied, or statutory, including the warranties of merchantability and fitness for a particular purpose.
You acknowledge and agree that your access and use of the Interface is at your own risk. We do not represent or warrant that access to the Interface will be continuous, uninterrupted, timely, or secure; that the information contained in the Interface will be accurate, reliable, complete, or current; or that the Interface will be free from errors, defects, viruses, or other harmful elements.
No advice, information, or statement that we make should be treated as creating any warranty concerning the Interface. We do not endorse, guarantee, or assume responsibility for any advertisements, offers, or statements made by third parties concerning the Interface.
The availability and appropriateness of the Interface may vary depending on your jurisdiction. By accessing or using the Interface, you acknowledge that you are solely and entirely responsible for complying with all applicable laws and regulations.
You understand and accept that we have no obligation to inform you of any potential liabilities or violations of law or regulation that may arise from your access and use of the Interface, and we are not liable in any respect for any failure by you to comply with applicable laws or regulations.
You are solely responsible for determining, collecting, reporting, and remitting any taxes applicable to your use of the Interface, including income tax, capital gains tax, and any other taxes arising under the laws of any relevant jurisdiction. We do not provide tax advice and are not responsible for determining or collecting any taxes from you. You should consult a qualified tax professional.
You represent and warrant that neither you nor any person acting on your behalf is subject to sanctions or other restrictive measures imposed by any relevant governmental authority, and that you are not accessing or using the Interface or the Protocol on behalf of, for the benefit of, or at the direction of any Restricted Person. You further represent and warrant that any funds, assets, wallets, or addresses used in connection with the Interface or the Protocol are not derived from, connected with, or intended to facilitate any unlawful activity, including money laundering, terrorist financing, fraud, sanctions evasion, theft, or market abuse. WaterX may, directly or through third-party providers, conduct sanctions screening, wallet screening, blockchain analytics, transaction monitoring, and other compliance checks, and may require additional information or documentation from you at any time. Failure to provide such information to WaterX’s satisfaction may result in restriction, suspension, or termination of access.
By accessing and using the Interface, you represent, acknowledge, and accept that:
The Interface may include references or links to third-party resources, including information, materials, products, or services not owned or controlled by us, including but not limited to Pyth Network, UMA, sports data providers, election data providers, TradingView, Enoki, bridge providers, wallet providers, RPC providers, liquidity providers, blockchain infrastructure providers, and other third-party service providers.
We do not endorse or assume any responsibility for these third-party resources or any promotions offered by third parties in connection with the Interface. If you access or use any third-party resources or participate in any third-party promotions, you do so at your own risk, and these Terms do not govern your dealings with such third parties.
You expressly release us from any and all liability arising from your use of any third-party resources or participation in any third-party promotions.
The Interface and the Protocol may contain or be affected by errors, bugs, delays, omissions, inaccurate data, incorrect price feeds, incorrect calculations, display errors, duplicate executions, erroneous liquidations, incorrect fee calculations, incorrect reward calculations, incorrect referral attributions, incorrect NAV calculations, or other technical or operational issues (collectively, “Errors”). WaterX reserves the right, at any time and in its sole discretion, without prior notice, to investigate, correct, adjust, cancel, reverse, reclaim, offset, or refuse to honor any transaction, balance, reward, rebate, referral benefit, distribution, redemption, or account state affected by any Error. If you receive any funds, assets, credits, rewards, incentives, or other benefits as a result of any Error, you shall have no right to retain them and shall promptly return or repay them upon request, or WaterX may deduct, offset, reverse, or claw back such amounts to the extent permitted by applicable law. WaterX shall have no liability for any loss or damage arising from any Error or any action taken in connection with an Error.
By accessing and using the Interface, you expressly agree to assume all risks associated with such access and use. You expressly waive and release WaterX and its officers, directors, employees, contractors, agents, affiliates, and subsidiaries from any and all liability, claims, causes of action, or damages arising from or in any way relating to your access and use of the Interface, including but not limited to:
This release applies to all past, present, and future claims, whether known or unknown, arising out of or in any way connected with your access and use of the Interface.
You agree to hold harmless, release, defend, and indemnify WaterX and its officers, directors, employees, contractors, agents, affiliates, and subsidiaries from and against all claims, damages, obligations, losses, liabilities, costs, and expenses (including reasonable attorneys' fees) arising from:
This indemnity obligation survives the termination of your access to the Interface and the expiration or termination of these Terms.
Under no circumstances shall WaterX or any of its officers, directors, employees, contractors, agents, affiliates, or subsidiaries be liable to you for any indirect, punitive, incidental, special, consequential, or exemplary damages, including damages for loss of profits, loss of funds, loss of data, goodwill, or other intangible losses, arising out of or relating to any access or use of the Interface.
WaterX assumes no liability or responsibility for:
In no event shall WaterX's aggregate liability to you exceed $100 USD, regardless of whether the alleged liability is based on contract, tort, negligence, strict liability, or any other legal theory, and even if WaterX has been advised of the possibility of such liability.
Some jurisdictions do not allow the exclusion of certain warranties or the limitation of certain liabilities. To the fullest extent permitted by applicable law, the disclaimers and limitations set forth in these Terms apply.
Informal Resolution. We will use our best efforts to resolve any potential dispute through informal, good-faith negotiations. If a potential dispute arises, you must first contact us by sending an email to legal@waterx.app to allow us to attempt resolution without formal proceedings. If we cannot reach an informal resolution within sixty (60) days of your email, the parties agree to resolve the dispute through the process described below.
Arbitration.Any claim or controversy arising out of or relating to the Interface, the Protocol, these Terms, or any other acts or omissions for which you may contend we are liable (each, a "Dispute") shall be finally and exclusively settled by binding arbitration administered by the Chinese Arbitration Association, Taipei (CAA) under the CAA Arbitration Rules in force at the time of filing. The arbitration shall be conducted confidentially before a single arbitrator, in English. The place of arbitration shall be in Taipei, Taiwan. Unless otherwise agreed, the arbitrator may not consolidate your claims with those of any other party. Any judgment on the award rendered by the arbitrator may be entered in any court of competent jurisdiction outside the United States of America.
Jurisdiction. WaterX is incorporated in the Cayman Islands and operates the Interface from there. Although the Interface may be accessible in other jurisdictions, its availability does not give rise to general or specific personal jurisdiction in any forum outside the Cayman Islands.
You must bring any and all Disputes against us in your individual capacity and not as a plaintiff or class member in any purported class action, collective action, private attorney general action, or other representative proceeding. This provision applies to class arbitration.
Both you and WaterX waive the right to a trial by jury with respect to any Dispute.
These Terms and any Dispute between you and WaterX shall be governed by and construed in accordance with the laws of the Cayman Islands, without regard to its conflict of laws principles. Nothing in this Section shall limit WaterX's right to seek injunctive or other equitable relief in any court of competent jurisdiction in connection with any actual or threatened breach of these Terms.
These Terms, including the Privacy Policy, constitute the entire agreement between you and WaterX with respect to the subject matter hereof. These Terms supersede all prior and contemporaneous written and oral agreements, communications, and understandings relating to the subject matter hereof.
Our Privacy Policy describes how we collect, use, store, and disclose your personal information. By using the Interface, you agree to the collection, use, storage, and disclosure of your data in accordance with the Privacy Policy.
"Restricted Territory" means any jurisdiction listed in Exhibit B where use of the Interface is strictly prohibited by applicable law, sanctions, or administrative orders.
"Excluded Jurisdiction" means any jurisdiction listed in Exhibit C where certain services or functionalities offered through the Interface are restricted due to legal or policy considerations.
"Restricted Person" means any individual or entity who is:
any Restricted Territory or Excluded Jurisdiction, or who is listed on any sanctions list maintained by the United Nations, OFAC, the U.K. Treasury, the European Union, or any other relevant authority.
The following jurisdictions are Restricted Territories. No access to the Interface is permitted under any circumstances:
(This list may be updated periodically at our sole discretion.)
The following jurisdictions are Excluded Jurisdictions. Access to certain features (e.g., leveraged trading, liquidity provision) may be limited or restricted:
(This list may be updated periodically.)