Terms And Conditions

Donex UG (hereafter: ‘provider’) offers a set of services to its customers (hereafter: ‘users’) through this web domain. Firstly, there is the OD.exchange website interface (hereafter: ‘OD.exchange’). Secondly, there is a set of smart contracts deployed on the Ethereum blockchain, with which users can interact through OD.exchange. By using any of these services, users agree to the Terms and Conditions defined in the following and confirm that they have understood the exact workings of the interface and its connected smart contracts. The contracts’ source code is published on Etherscan and must be studied before used.

Beware, our services are in a beta stage. Blockchain, and in this case Ethereum, is an emerging technology and still subject of substantial development. Accordingly, bugs can occur and can result in a loss of all funds deposited in the smart contracts created by the users.

§1 OD.exchange

OD.exchange is an interface that connects you to the Ethereum blockchain via Web3.js. Any information displayed to users on OD.exchange or any user interaction performed through OD.exchange can also be performed with other services that connect to the Ethereum blockchain. OD.exchange’s sole purpose is to facilitate the interaction with the specific smart contracts used by it. Using OD.exchange is free of charge but for the usage of the contracts costs may apply (see §2). By using OD.exchange users agree to our privacy policy (see §3).

§2 Smart Contracts

The set of smart contracts accessible through OD.exchange include the OD master contract, which serves as a template for individualized contracts that users can derive from it (hereafter: ‘user contracts’). The OD master contract and the user contracts themselves use subsidiary contracts. These subsidiary contracts are the withdraw contract and the oracle contract. The withdraw contract’s purpose is to save gas costs for the users. It calculates the correct withdrawal amounts at the time of contract settlement. The oracle contract is used for the settlement of the contracts. Its source code is published on Etherscan.

The OD master contract is under control of the provider. All funds stored in it are property of the provider.

The user contracts constitute an individualized agreement between users, of which the provider is no longer part. The agreement defines a conditional payment depending on the price development of an underlying asset. A detailed explanation of the agreement’s workings can be found in the ‘How It Works’ section of OD.exchange. When a user contract is settled, a fee is transferred to the OD master contract in exchange for using the master contract’s template.

By entering an agreement through the user contracts, users accept the conditions laid out in the OD master contract and do so at their own risk. The conditional payment agreed on in the user contract can be of such a kind that users lose all their deposited funds if the price development of the underlying asset has been accordingly.

The underlying’s price at the due date is accessed by the user contract in a separate oracle contract whose purpose is to feed asset prices into the blockchain. The oracle is maintained by the provider and the data it offers is publicly available and stored permanently on the blockchain.

§3 Privacy Policy

By using OD.exchange users agree to the collection of data compliant with GDPR. OD.exchange collects anonymized data from users about click behavior and their region of origin. By using the OD.exchange, users agree to this collection of data.

§4 Country of Residency

US residents are not permitted to use any of the services defined in §1 and §2.

§5 Laws, Regulation and Taxation

All users have to abide by the (tax) laws and regulations of their respective jurisdiction when using OD.exchange and the set of smart contracts.

§6 Editorial Notice

Provider Identification pursuant to the Telemedia Act (TMG):
Donex UG (haftungsbeschraenkt)
Helmholtz Str. 9
Cologne, 50825 Germany
Managing Directors: Robin Blaesing, Lukas Bahrenberg
Place of business: Cologne, 50825 Germany
Tax number: 217/5723/2214
Court of Registration: District Court Cologne
Commercial register: HRB 96960
Responsible for content: Robin Blaesing, Lukas Bahrenberg