Terms of Service

Last updated: 2026-10-04 · Version 1.1

By accessing or using bayanX ("the Service", "we", "us"), you agree to be bound by these Terms. If you do not agree, do not use the Service. These Terms form a binding contract between you and the operator of bayanX.

1. Eligibility

• You are at least 18 years old (or the age of majority in your jurisdiction, whichever is higher).
• You are not a resident of, or accessing the Service from, a Restricted Jurisdiction as listed in Section 13.
• You have the legal capacity to enter into this agreement.
• You are not a Sanctioned Person under any applicable sanctions regime (US OFAC, EU, UN).

2. Nature of the Service

bayanX is a custodial, hybrid derivatives exchange. You sign in with a self-controlled wallet, but assets you deposit are transferred to and held by bayanX in smart contracts and wallets it controls. Your balance, orders, positions and trades are recorded in bayanX's ledger; orders are matched off-chain by our matching engine. Deposits and withdrawals settle on BNB Chain (BSC) and, where enabled, TRON. The Service offers perpetual futures with leverage up to 20×, subject to the maximum shown for each market.

Perpetual futures are complex, high-risk derivatives. See our Risk Disclosure for details.

bayanX or its affiliates may provide liquidity on the Service and may be the counterparty to your trades.

3. Account creation and authentication

You create an account by signing a Sign-In With Ethereum (SIWE) message with your wallet. We do not require email or password. You are solely responsible for the security of your wallet, including private keys and seed phrases used to sign in. Your deposited assets are held by bayanX, not in this wallet, but access to your account is granted only by a signature from that wallet: if you lose access to it, you may be unable to reach your account or your balance. bayanX operates no wallet-recovery procedure and has no obligation to restore access; any request is assessed case by case.

4. Fees

• Maker / taker trading fees are displayed on the market page and in the order-confirmation flow.
• Fees may change with 48 hours' notice, posted on the /status page and Notices CMS.
• Referral discounts apply automatically. Volume-tier (VIP) fee discounts are not applied at this time; they are scheduled to apply from the official launch.

5. Withdrawals

• Every withdrawal is reviewed and approved by bayanX before it is sent.
• Supported withdrawal networks are BNB Chain (BSC) and, where enabled, TRON.
• Withdrawals ≥ USDT 1,000 are subject to a 24-hour security hold.
• Withdrawals from a new destination address are held for 1 hour.
• Two-factor authentication is required for withdrawals ≥ USDT 1,000 when 2FA is enabled on the account.
• Administrators may pause withdrawals during an incident per the published Runbook; any such pause triggers a public notice and admin alerts.

6. Prohibited conduct

You agree not to:

• Manipulate markets (wash trading, spoofing, layering, pump-and-dump schemes).
• Use the Service for money laundering, sanctions evasion, or any illegal purpose.
• Attempt to exploit bugs, smart-contract vulnerabilities, or price-feed anomalies instead of reporting them.
• Operate more than one account from the same person to abuse promotions or referrals.
• Reverse-engineer or copy Service code protected by our license.

7. Liquidations

Open positions are subject to automatic liquidation when the margin ratio breaches the market's maintenance threshold. Liquidation is executed at the best available price on the order book. Any shortfall below zero equity is absorbed by the Insurance Fund (see Section 9).

8. Automatic settlement

If an open position's unrealized profit reaches 10 times its margin, or your account equity reaches 1.5 times your net deposits, the Service automatically closes the affected position(s) at the prevailing market price. These thresholds are shown in the trading interface.

9. Insurance Fund & socialized loss

bayanX maintains an Insurance Fund that absorbs losses from bankrupt positions. If the Insurance Fund is depleted, losses are socialized across profitable counterparties via Auto-Deleveraging (ADL). The public Insurance Fund balance is displayed at /stats and updated in real time.

10. Data and privacy

Your wallet address is treated as pseudonymous identifier. We log IP addresses for security and anomaly detection. See our Privacy Policy for full data practices. We do not sell personal data.

11. Limitation of liability

THE SERVICE IS PROVIDED "AS IS" WITHOUT WARRANTY OF ANY KIND. TO THE MAXIMUM EXTENT PERMITTED BY LAW, bayanX, its operators, affiliates, officers, and employees SHALL NOT BE LIABLE for any indirect, incidental, special, consequential, or punitive damages, or any loss of profits or revenues. Our aggregate liability for direct damages shall not exceed the fees you paid to us in the 30 days preceding the event giving rise to the claim.

12. Changes to these Terms

We may update these Terms from time to time. Material changes will be posted as a Notice and displayed on the next login. Continued use after a change constitutes acceptance.

13. Restricted Jurisdictions

The Service is not available to residents or persons located in the following jurisdictions: United States, Canada, United Kingdom, Mainland China (subject to local regulation), Cuba, Iran, North Korea, Syria, Crimea, Donetsk, Luhansk. We may add jurisdictions to this list to comply with regulations; changes are posted to this page.

14. Governing law & dispute resolution

These Terms are governed by the laws of the jurisdiction in which bayanX is incorporated. Disputes shall be resolved first through good-faith negotiation, then through binding arbitration administered in that jurisdiction. You waive any right to a jury trial or class-action proceeding.

15. Contact

Legal questions: legal@bayanx.net
Support: support@bayanx.net