低市值代币的永续合约可能提供高回报的潜力，但与成熟资产相比，它们固有更高的风险。这些风险包括但不限于：

1. 极端价格波动
   低市值代币高度容易受到市场情绪、投机交易或采用率有限的影响，导致价格在短时间内剧烈波动，可能迅速侵蚀投资价值。
2. 流动性限制
   较低的流动性可能导致买卖价差扩大、交易时的滑点，或难以在不显著影响代币价格的情况下退出仓位。
3. 完全丧失价值
   较小的项目面临更高的失败、放弃或失去用途的风险，这可能使代币变得一文不值。这些风险包括协议缺陷、管理不善或竞争。
4. 下架风险
   交易所可能会下架未能满足不断演变的合规性、流动性或市场稳定性标准的代币。下架可能导致永久无法继续在交易场所交易代币。
5. 治理和开发风险
   许多低市值项目缺乏成熟的治理框架或明确的路线图。开发团队、协议规则或代币经济学（例如通胀性供应安排）的变化可能会对价值产生重大影响。
6. 监管不确定性
   不断演变的监管可能会对较小代币产生不成比例的影响，包括对交易、托管或分类（例如证券指定）的限制。
7. 网络安全漏洞
   较小的项目可能具有较不健全的安全基础设施，增加了被黑客攻击、智能合约漏洞利用或网络中断的风险，这些风险可能不可逆转地损害代币价值。
8. 集中风险
   少数持有者（例如，超过5%的所有权）可能对代币价格或治理决策产生不成比例的影响，从而放大波动性。

免责声明
HashKey不对因交易低市值代币而产生的损失承担任何责任。这些资产具有投机性，不适合规避风险的投资者。

Disclaimer:

Participation in this event does not guarantee eligibility, acceptance, or receipt of any rewards, benefits, or incentives. HashKey Global may impose certain criteria, requirements, or limitations for participation, and it reserves the right to deny or disqualify individuals or entities from participating in the event. Hashkey Global reserves the right to make changes, modify, or cancel the event or the eligibility of any participant at any time at its sole discretion, including due to internal control, system issues or other circumstances, without any prior notice or liability.
To the fullest extent permitted by law, HashKey Global, its affiliates, partners, and employees shall not be held liable for any direct, indirect, incidental, consequential, or special damages arising from participant’s participation in the event, including but not limited to any loss of funds, profits, business, potential profits, data, or reputation.
HashKey Global reserves the ultimate discretion regarding the rules and rewards of the event.
HashKey Global is a digital asset trading platform operated by HashKey Bermuda Limited under a Type F license granted by the Bermuda Monetary Authority. This information does not constitute an offer, solicitation, or recommendation for any investment product. Investing and trading virtual assets involve risks. HashKey Global does not service users from Hong Kong, United States, Mainland China and certain other jurisdictions in compliance with laws and regulations. Certain services, features, and campaigns may not be available in your jurisdiction.

RISK WARNING ABOUT HSK:

Please be aware that HSK is not currently listed on any exchange and there is no guarantee that it will be listed in the future. As a result, HSK presently has no established market value. The timeline for the potential listing of HSK remains uncertain. In the event that HSK is successfully listed, it may be subject to various trading restrictions in accordance with applicable regulations and laws. These restrictions may include, but are not limited to, limiting the trading of HSK solely to eligible professional investors in select locations and subject to regulatory approval. The value of HSK is subject to substantial risk and may diminish or fluctuate significantly in response to various market conditions and other factors beyond HashKey Global's control. HashKey Global and its affiliates make no warranties, express or implied, in relation to HSK or any rewards and disclaims any liability relating thereto.

Customers may file a complaint if they are not satisfied with the services/ products provided or failed to be provided by HashKey Global (the “Company”). Once the Company has received customer complaint, the Company will deal with the matter as soon as practicable.

If you have a complaint with HashKey Global, you agree to first contact our customer support team where available to attempt to resolve such complaint. If we cannot resolve the complaint through our customer support team where available, you agree to use the complaints process set out in this document.

Customers can file customer complaint to the Company by email (global-complaints-hbel@hashkey.com), setting out the complaint in full details including but not limited to circumstances of the alleged incident.

What do customers need to provide when a complaint is lodged?

When a customer lodges a complaint, the Company requires certain information to verify the customer's membership. To help us resolve your complaint as quickly as possible, please provide the following details:

· Customer’s full name, address and other relevant personal details such as account;

· Number or account details to the extent that is necessary;

· A clear and honest outline of customer’s complaint;

· Copies of any supporting documents concerning the customer’s complaint; and

· Details of what customer would like the Company to do to rectify the situation.

Any personal information collected shall be subject to the applicable Privacy Policy.

How will a complaint be dealt with?

A complaint will be dealt with by (a) an individual not directly concerned with the subject of the complaint or (b) a compliance officer. If the Company can resolve the complaint within one (1) week following the day it was received, the Company will send the complainant the investigation result together with an explanation of the Company’s decision. Where the complaint is not genuine or does not include necessary information, no investigation will be carried out and customer will be informed accordingly, if applicable.

If further investigation is required, the Company will send the complainant an acknowledgement of receipt of their complaint within one (1) week following the day it was received. The Company will aim to provide the complainant with a written reply within four (4) weeks from the date the complaint is received. A final response will be issued within two (2) months from the date the complaint is received. The aforesaid timeline is an indicative only and not a commitment, as the processing of a complaint may be subject to various factors, such as the complexity of the complaint and any subsequent communications with the complainant for the purpose of seeking further information or clarification. When an investigation is taking longer than two (2) months to complete, an interim report will be issued depending on individual circumstances and the complexity of the case.

If customers are not satisfied with the Company’s response?

If customers are not satisfied with the decision, customers may request the Company to review the decision by providing new material information or evidence or refer the matter to other relevant regulators or relevant authorities.

For complaints or disputes that cannot be resolved via the complaint process set out above, the dispute resolution process as set out in the Investor Business Terms at Section 64 shall apply.

ADDITIONAL TERMS APPLICABLE TO THE PERPETUAL FUTURES PRODUCTS


All capitalized terms and references used in these Additional Terms that are defined and construed in the Investor Business Terms ("Terms") but are not defined or construed in these Additional Terms shall have the same meaning and construction in these Additional Terms. For the avoidance of doubt, where a term is defined both in the Terms and in these Additional Terms, for the purposes of these Additional Terms only, the definition in these Additional Terms shall prevail.

The terms set out hereunder shall be supplemental to and are to be read together with the Terms. In the event of any conflict or inconsistency between the provisions set out under the Terms and these Additional Terms, the terms in these Additional Terms shall prevail unless expressly stated otherwise.

There are additional specific risks that apply to trading in Perpetual Futures Products, which are set out in in Clause 2 of the Additional Terms. You must have the financial ability, sophistication, experience, tolerance, and willingness to bear the additional specific risks to Perpetual Futures Products. Perpetual Futures Products are a complex product and the trading of Perpetual Futures Products is highly risky and are not suitable for all investors. There is a risk that you may lose all of your investment. Before acquiring a Perpetual Futures Product, please carefully review your financial situation, experience and objectives for engaging in the transaction, ability to bear risks and other relevant circumstances to determine whether such products are suitable for you. You should consult professional advisors (including legal, tax, financial and accounting) as may be appropriate. By entering into any Transaction for Perpetual Futures Products, you agree that you assume all the risk of your Transactions and that HBML and/or its group affiliates will not be responsible for any losses you may suffer.

The Perpetual Futures Product is intended for Clients who are authorized to access the Products and Services. It is not intended for Clients who are subject to any applicable restrictions. You are responsible for familiarizing yourself with and complying with any restrictions and/or requirements regarding the access and use of the Products and Services offered by HBML in each country or region from which you access them (or where applicable, the Products or Services are accessed on your behalf). HBML reserves the right to modify, change, or impose additional restrictions on your access and use of the Products and/or Services at any time, at its sole discretion, without prior notification.

1. PERPETUAL FUTURES PRODUCT
   1. The Perpetual Futures Product is a product that allows the Client to trade Perpetual Futures contracts on certain Digital Assets trading pairs ("Perpetual Futures Products") through the HashKey Exchange. The Client may participate in the Perpetual Futures Product in accordance with the Terms and these Additional Terms.
   2. By using the Services and entering into a Transaction for Perpetual Futures Products, which HBML may in its absolute discretion provide to the Client from time to time, you agree to be bound by these Additional Terms. The Client also acknowledges and agrees that it has sufficient investment knowledge, financial expertise, and experience and the capacity to take on the increased risks arising from trading Perpetual Futures Products. The Client further agrees to independently assume all the risks arising from conducting trading in Perpetual Futures Products on their own account. If the Client is uncomfortable with the associated risks, including but not limited to the additional specific risks set out in Clause 2 the Client should not trade Perpetual Futures Products.
2. ADDITIONAL RISKS ASSOCIATED WITH PERPETUAL FUTURES PRODUCTS

In addition to the other risks disclosed by HBML that are relevant to the Client's use of the Services and Products, the following risks apply:

1. Perpetual Futures Products is a derivative product and may not be suitable for all investors. Before investing, investors should understand its nature and risks, such as extremely high price volatility of Digital Asset futures and the value of the Digital Asset futures may decline significantly, including to zero. All the risks relating to the underlying Digital Assets may be magnified as trading in Digital Asset futures is inherently risky - the underlying Digital Assets are speculative in nature and leverage is used in futures trading.
2. Perpetual futures contracts are complex products and the trading of Perpetual Futures Products is high risk. The market price of any perpetual futures contracts may not reflect the price of spot markets in the applicable underlying Digital Assets, and may fluctuate significantly in response to the value of the underlying Digital Asset’s(s') price, supply and demand, and other market factors.
3. The valuation of Digital Assets and Digital Asset related products is usually not transparent, and highly speculative. Digital Asset related products are highly speculative products and their prices can fluctuate greatly within a short period of time.
4. The risk of loss is substantial. Under exceptional market circumstances, the price of Digital Assets and hence the price of Digital Asset futures may drop to zero in a short period of time. An investor should be prepared to lose the full principal value of their investment in Perpetual Futures Products within a single day. Investors may sustain losses greater than their principal investment as a result.
5. In order to trade Perpetual Futures Products, the Client must post collateral. Depending on market movements, the Client's positions may be liquidated and the Client may sustain a total loss of the assets in the Account. This is because futures contract trading can be highly leveraged, with a relatively small amount of funds used to establish a position in a Digital Asset or index having a much greater value. As a result, a relatively small price movement in a Digital Asset futures may result in a proportionally high impact and substantial losses to a Digital Asset futures contract. This may result in losses in excess of the amount invested. For instance, a small price decrease on a 20x leveraged futures contact’s underlying Digital Asset could result in 20x loss in your leveraged position in the futures contract. Further, short positions will lose money when the price of the underlying Digital Asset rises, a result that is opposite from holding the underlying Digital Asset.
6. Clients are exposed to high concentration risk in a single reference asset (e.g. bitcoin or ether) and/or a single futures contract. Clients with substantial investments in Digital Asset futures may be exposed to higher concentration risks.
7. If the market moves against the futures position, the investors may be required to pay additional margins to maintain the trading positions on short notice. Clients may need to liquidate assets at unfavourable prices in order to meet these margin calls and suffer substantial losses.
8. Investors may sustain losses in excess of the collateral provided to meet margin calls. Investors may also sustain a total loss of any collateral that is provided to establish or maintain a position. If the collateral is not provided within the time required to meet margin calls, the Client's collateral may be liquidated and other actions may be taken without your consent, forced position reduction and liquidation. Further, you will be responsible and liable for any resulting deficit in the Account. It is the responsibility of the Client investor to ensure that he/she has sufficient margin in the Account to support when there are any outstanding positions.
9. In addition to the above, Clients should also note:
   • Clients should be aware that when the auto-deleveraging mechanism is triggered, Clients may be required to make unforeseen payments.
   • Perpetual Futures Products do not expire and Clients will be required to make payments for long periods of time.
   • HBML may at its sole discretion determine to terminate the offering of the Perpetual Futures Product. As a result, investors may suffer losses. HBML and/or its group affiliates will not be responsible for any losses resulting from such termination.
10. TRANSACTIONS FOR PERPETUAL FUTURES PRODUCTS
11. In order to enter into Transactions for the Perpetual Futures Products, the Client must satisfy the eligibility criteria determined by HBML from time to time. HBML may change the eligibility criteria relating to the use of the Perpetual Futures Product at any time, including introducing additional requirements. To be eligible to enter into Transactions for the Perpetual Futures Products, the Client:
    • may be required to submit additional documents or information to HBML and obtain HBML's approval;
    • must comply with HBML’s onboarding requirements (including but not limited such requirements related to jurisdiction) and product access requirements as amended from time to timeHBML; and
    • represents, warrants and undertakes that its use of the Perpetual Futures Products is and shall at all times comply with all Applicable Laws.
    • ; and must agree to be bound by the Rules.
12. If the Client is not (or is no longer) eligible to use the Perpetual Futures Product, each of the Transactions for Perpetual Futures contracts will be terminated immediately.
13. To enter into a Transaction for Perpetual Futures Products the Client will be required to post collateral in the form of Digital Assets to cover the Initial Margin and Maintenance Margin.. The Client agrees that HBML may, in its sole discretion, set the Initial Margin and Maintenance Margin requirements and the limits on leverage for each open, unexecuted order and each open position in the Perpetual Futures Product.
14. The Client agrees not to create any encumbrance or allow any encumbrance to exist on the whole or any part of the collateral or attempt to dispose (or agree to dispose of) or otherwise deal with any of the collateral without HBML's prior written consent.
15. HBML may, in its sole discretion, refuse, impose limits on or impose other conditions or restrictions on any Transaction for the Perpetual Futures Products or use of the Services without prior notice.
16. The Client should ensure that it has funds in his/her Account to complete any Transaction for the Perpetual Futures Products.
17. In respect of the collateral provided by the Client to HBML, the Client agrees that:
    • In order to secure the obligations of the Client, the Client hereby assigns, pledges, transfers, and grants to HBML, as secured party, a continuing first priority perfected security interest in, and a lien upon, all of the Client's right, title, and interest in, to and under, whether now owned, or hereafter acquired, the collateral assets in the Account.
    • Notwithstanding any provision or instructions to the contrary, the collateral held as continuing security and shall be subject to a general lien and right of set off in favor of HBML for any and all of the Client's obligations, liabilities or monies whatsoever at any time now or hereafter owing, due, incurred or payable by the Client to HBML under these Additional Terms or otherwise, whether present or future, actual or contingent, solely or jointly or whether as principal or surety, and HBML may realise any of the collateral as provided for under these Additional Terms.
    • Subject to HBML’s rights under these Additional Terms (including, without limitation, HBML’s rights pursuant to a Liquidation or termination as set out in Clauses 4 and 5, HBML will not sell, transfer, loan, hypothecate, rehypothecate or pledge any collateral provided to HBML unless instructed by the Client, authorised under these Additional Terms, or compelled by a court of competent jurisdiction to do so.
    • It will maintain sufficient collateral at all times for outstanding Transactions.
    • HBML may deal with the collateral in accordance with any applicable authority  given by the Client in accordance with these Additional Terms and comply with the requirements and limits pursuant to Applicable Laws.
    • HBML may upon the enforcement of its rights, sell, dispose of, realise, convert into any other Digital Asset or fiat currencies or otherwise deal with the collateral as agent or as mortgagee or pledgee of the Client, as HBML may at its discretion deem fit, without incurring any liability whatsoever or howsoever in respect of such fiduciary capacity.
    • No interest shall be paid on any collateral deposited by the Client and HBML shall not have any liability for fluctuations in the fiat currency value of the collateral deposited.
18. The Client agrees and authorises HBML and its Affiliates to take any measures in their sole discretion, including but not limited to, forced position reduction and liquidation under market volatility, illiquidity and other circumstances, for the purposes of mitigating potential losses to the Client, other clients, HBML and its Affiliates.
19. HBML and its Affiliates do not take any responsibility whatsoever for any losses or damage incurred as a result of the Client's trading of Perpetual Futures Products on the HashKey Exchange or the Client's failure to understand the risks associated with trading Perpetual Futures Products.
20. LIQUIDATION
21. The Client may be required to deposit additional collateral to satisfy Maintenance Margin requirements as required by HBML from time to time and to secure the Client's performance of any obligations due to HBML under these Additional Terms.
22. In the event that the Client's margin balance fails to meet the Maintenance Margin requirement (for example, if there is insufficient collateral), HBML has the sole discretion to liquidate any open positions in any collateral in the Account either in full, or in an amount sufficient, in HBML’s reasonable discretion, to restore the value of the collateral to an amount equal to or exceeding the Maintenance Margin requirements. For the avoidance of doubt, HBML is not required to provide notice or margin calls before liquidating collateral in the Account. The Client acknowledges and agrees that it is the Client's sole responsibility to maintain the value of the collateral in the Account to equal or exceed the Maintenance Margin requirement at all times.
23. The Client agrees and acknowledges that if with respect to open positions maintained in the Perpetual Futures Products, the Mark Price of the relevant Futures hits the Liquidation Price and the collateral in the Account falls below the required Maintenance Margin, HBML will begin to automatically close out open positions without notice as soon as market conditions allow until the first of the following occurs:
    • the collateral in the Account is equal to, or greater than, the required Maintenance Margin for all remaining open positions; or
    • all open positions in the Perpetual Futures Products have been terminated

(such process, a “Liquidation”). 

A Liquidation will result in all open orders for any Perpetual Futures Product being immediately cancelled in order to increase the Client's ability to meet Margin Maintenance requirements.  HBML is not required to provide notice before commencing Liquidation. If, following a Liquidation, there is a negative balance in the Account, the Client will be considered “bankrupt” and HBML may step in to take over the remaining positions and offload them onto the market gradually via the use of a reserve fund to make up the losses caused with the intention of reducing the possibility of auto-deleveraging. In the event that the reserve fund is unable to accept positions, such as in periods of extreme market volatility, counterparty liquidation will occur and positions held by opposing Clients will be liquidated in accordance with a priority ranking calculation which results in highly leveraged positions being closed out first in accordance with the auto-deleveraging mechanism.

1. TERMINATION
   1. In addition to other rights set out in the Terms, HBML may, in its sole discretion, without liability to the Client, with or without prior notice, suspend or terminate the Client's access to all or a portion of the Services, including access to the Perpetual Futures Products upon the occurrence of the following events:
      • any failure by the Client or Authorized Persons to provide requested documentation or information for identity verification to satisfy AML/CFT requirements;
      • any failure to maintain the required margin or collateral for open positions;
      • the occurrence of an Event of Default;
      • where HBML is required to do so by Applicable Law, or any court or authority to which HBML is subject in any jurisdiction;
      • the use of the Client's Account is subject to any pending, ongoing or threatened litigation, investigation, or judicial, governmental or regulatory proceedings and/or HBML perceives a heightened risk of legal or regulatory non-compliance associated with the Account activity;
      • where HBML suspects that the Account is being used to engage in illegal activities or there is an occurrence of money laundering, terrorist financing, fraud or any other crime in connection with the Account or the Client's use of the Services; and
      • there is any other valid reason which requires HBML to do so.
   2. HBML may, in its sole discretion and without liability to the Client, with or without prior notice, close the Client's position and exit any Perpetual Futures Products.
   3. In addition to its other rights, HBML may, in its sole discretion:
      • remove the Perpetual Futures Product from the HashKey Exchange by providing notice through the Website. If this occurs, any and all open positions the Client may have at the date and time the Perpetual Futures Product ceases to be made available as part of the Products and Services offered by the HashKey Exchange will be closed; and
      • close out any and all positions HBML reasonably determines as is required for the purpose of protecting itself against risk of loss.
   4. The Client agrees not to hold HBML liable for any loss arising from any action taken in accordance with this Clause 5.
2. FEES
   1. Perpetual Futures contracts represent obligations to buy or sell a Digital Asset at a specific price, at any time while the contract remains open. Perpetual Futures contracts do not have an expiry date but, instead, continuously roll over, i.e. every hour. By entering into a Transaction for Perpetual Futures Products through the HashKey Exchange, the Client will be required to pay or be entitled to receive a Funding Fee every eight (8) hours if it maintains any open positions in Perpetual Futures Products.
   2. In extreme market conditions, the Funding Fees can be very high. This means that it is costly to maintain a long-term position in a market.
   3. The Client agrees to pay the fees for Transactions for the Perpetual Futures Products as set out in the Fee Schedule available on the Website. The Client acknowledges that such Fee Schedule may be updated by HBML from time to time in accordance with the Terms.
3. DEFINED TERMS APPLICABLE TO THE PERPETUAL FUTURES PRODUCT ADDITIONAL TERMS

"Funding Fee" means the payments that apply to the Perpetual Futures Products that the Client is required to pay or be entitled to receive if it maintains any open positions in Perpetual Futures Products.

"Initial Margin" means the minimum amount of collateral value required to open a new position.

“Liquidation” is as defined in Clause 4.3 of these Additional Terms.

“Liquidation Price” means the Mark Price at which Liquidation occurs. For the avoidance of doubt, the Liquidation Price as quoted is for reference only and shall not be binding on HBML.

"Maintenance Margin" means the minimum amount of collateral value required to maintain an open position.

"Mark Price" means the index price calculated using a specific weighted price formula that draws pricing data from multiple reputable exchanges to determine the market price of the Perpetual Futures product. For further details on the calculation of the Mark Price, please refer to the Trading related FAQs.

HashKey Global is a digital asset trading platform operated by HashKey Bermuda Limited (“HBML”), which is an exempted company limited by shares incorporated under the laws of Bermuda which has been granted a Class F licence by the Bermuda Monetary Authority under the Digital Asset Business Act 2018 to operate a digital asset trading platform.

How to Open an Account with HashKey Global?

To open an account with HashKey Global, you shall complete, sign and be bound by the terms and conditions as required by HBML and provide such other documents as HBML may require. Your account opening process and document requirement will be contingent to the types of investors. Currently, HashKey Global offers services to “Individual investor” and “Corporate investor ”.

For Individual Investor, you can open an account online through the following process:

1. Register an account on the official website or application of HashKey Global. After completing the registration, log in to your account and go to your profile. Click [Identity Verification] to proceed with Individual Verification. You will then be instructed to verify your phone number.
2. You will be directed to the KYC verification process. Please have your identification documents and address proof ready.
3. You will go through a passport verification process where facial recognition and liveness check will take place. After uploading the passport and completing the facial recognition, you will have to upload an address proof for verification.
4. Upon receipt of all the required information and documents, HashKey Global will review the submission and provide feedback to the applicants via email. Subject to the sufficiency of the information provided, HashKey Global may ask for more supporting information.
5. Once all of the above steps have been satisfactorily completed, we will open an account for you at HashKey Global.

For Corporate Investor, please contact us at  global-vip@hashkey.com. Our team will assist you with opening an account.

This is the Cookie Policy for HashKey Digital Asset Group Limited (or its affiliates, hereinafter referred to as “HashKey”), accessible from www.hashkey.com。

What Are Cookies
As is common practice with almost all professional websites this site uses cookies, which are tiny files that are downloaded to the user’s computer, to improve user experience. This page describes what information they gather, how HashKey uses it and why we sometimes need to store these cookies. We will also share how you can prevent these cookies from being stored, however this may downgrade or 'break' certain elements of the site’s functionality.

How We Use Cookies
HashKey use cookies for a variety of reasons detailed below. In most cases there are no industry standard options for disabling cookies without completely disabling the functionality and features they add to this site. It is recommended that users leave on all cookies if users are not sure whether or not they are needed, in case the cookies are used to provide a service that the user shall need.

Disabling Cookies
Users can prevent the setting of cookies by adjusting the settings on their browser (more information is available in the “Help” / “Settings” section on the user’s browser). Be aware that disabling cookies will affect the functionality of this and many other websites that the user visits. Disabling cookies will usually result in also disabling certain functionality and features of this site. Therefore it is recommended that users do not disable cookies.

How Long the Cookies Will Stay on Users’ Browsing Device
The length of time a cookie will stay on the user’s browsing device depends on whether it is a “persistent” or “session” cookie. Session cookies will only stay on the user’s device until the user closes the browser. Persistent cookies stay on the user’s browsing device until they expire or are deleted.

The Cookies We Set
Strictly Necessary Cookies
These cookies are necessary for the website to function and cannot be switched off in our systems. They are usually only set in response to actions made by the users which amount to a request for services, such as setting the users’ privacy preferences, logging in or filling in forms. Users can set their browser to block or alert them about these cookies, but some parts of the site will not work as a result. These cookies do not store any personally identifiable information.

Performance Cookies
These cookies allow us to count visits and traffic sources so we can measure and improve the performance of our site. They help us know which pages are the most and least popular and see how users move around the site. All information these cookies collect is aggregated and therefore anonymised.

Functional Cookies
These cookies enable the website to provide enhanced functionality and personalisation. They may be set by us or by third party providers whose services we have added to our pages.

Targeting Cookies
These cookies may be set through our site by our advertising partners. They may be used by those companies to build a profile of the users’ interests and show users relevant advertisements on other sites. They do not store directly personal information but are based on uniquely identifying the user’s browser and internet device.

The information we obtain from our use of cookies will not usually contain personal data of the users. Although we may obtain information about the users’ computer or other electronic devices such as the users’ IP address, their browser and/or other internet log information, this will not usually identify the users personally. In certain circumstances, where the user voluntarily provides it (e.g. by completing an online form) or where the users subscribe to our services through the website we may collect personal information about the users.

Third Party Cookies
In some special cases HashKey also uses cookies provided by trusted third parties. Third party cookies such as Google Analytics may collect information such as your IP address, device type and operating system, referring URLs, location and pages visited so that HashKey can continue to produce engaging content. These third-party service providers are responsible for the cookies they set on this site. If the user would like to opt-out of all other types of technologies we employ on this site, users may do so by changing their browser settings to block, delete or disable these technologies as their browser or device permits.

HashKey also use social media buttons and/or plugins on this site that allow users to connect with their social network in various ways. For these to work the following social media sites including without limitation; Youtube, LinkedIn, Twitter, Facebook, Medium, will set cookies through our site which may be used to enhance the user’s profile on their site or contribute to the data they hold for various purposes outlined in their respective privacy policies.

Please see below a list of the more commonly used browser types with hyperlinks showing how to adapt their cookie settings accordingly:
• Google Chrome
• Microsoft Edge
• Mozilla Firefox
• Opera
• Apple Safari

This cookie policy is written in an English version and a Chinese version. In the event of any conflict between the two versions, the English version shall take precedence.

More Information
If users are not sure whether such cookies are required or not, it is usually safer to leave cookies enabled in case it does interact with one of the features users use on our site.

For more information, users can contact us through email at: support@global-cs.hashkey.com.

INVESTOR BUSINESS TERMS

• Perpetual Futures

1. in relation to a corporation, partnership or any other form of legal entity, another entity or person that, directly or indirectly, is Controlling, Controlled by or under common Control with such entity; or
2. in relation to any individual, any of his Associates;

1. the power (whether directly or indirectly and whether by the ownership of share capital, the possession of voting power, contract or otherwise) to appoint and/or remove all or such number of the members of the board of directors or other governing body of an entity or partnership as are able to cast a majority of the votes capable of being cast by the members of that board or body on all, or substantially all, matters, or otherwise to control or have the power to control the policies and affairs of that person; and
2. the holding and/or the possession of the beneficial interest in and/or the ability to exercise the voting rights applicable to shares or other securities in any person which confer in aggregate on the holders thereof more than 50% of the total voting rights exercisable at general meetings of that person on all, or substantially all, matters,

1. is a limited liability company incorporated in Hong Kong;
2. holds a “trust or company service provider licence” (Licence No T006486) under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615 of the Laws of Hong Kong); and
3. is an Affiliate of HBML.

1. a loss of control or ownership by HBML or a third party of any amount of such Digital Asset; or
2. Transaction records on the blockchain being altered, reversed or otherwise invalidated, whether by way of a fraudulent act or consensus, which shall include without limitation any double spending attack, 51-percent attack, or blockchain reorganization,

1. any blockchain address that appears in a list of addresses with which dealings are proscribed by the United Nations or another Government Agency or relevant authority under Applicable Laws, or is part of a group of addresses that appears in such a list; and
2. without limiting the generality of this definition, an address stated on the United States of America Department of Treasury’s Specially Designated Nationals list;

1. be in breach of any AML/CFT Requirements of any jurisdiction;
2. appear in a list of persons with whom dealings are proscribed by the United Nations or another Government Agency or a regulatory authority under Applicable Laws; or
3. act on behalf, or for the benefit of, any person described in paragraph (a) or (b);

1. corporate entities registered in the PRC; and
2. Chinese citizens and foreign individuals who have resided within the territory of the PRC, for one full year, excluding foreign diplomats and the representatives of any international organization in the PRC;

1. trading services for Digital Assets;
2. custody services for Digital Assets and/or fiat currencies (if and where applicable); and
3. access to Products;

1. terms and conditions applied to any specific products or services provided by us;
2. these Terms; and
3. any other document that comprises the Agreement.

1. disseminate such quotes (or any part thereof) to any other person;
2. use, or permit the use of, such quotes (or any part thereof) for any illegal purpose;
3. use such quotes (or any part thereof) other than for the Client’s own use; or
4. use such quotes (or any part thereof) in relation to any trading or dealing of Digital Assets otherwise than through HashKey Exchange.

1. to comply with any such limits and controls as imposed by HBML, and undertakes not to take any action that will cause the Client to violate any such limits and controls;
2. that the Client may be prevented from entering into a Transaction or from taking certain steps if such actions would result in the Client exceeding such foregoing limit, and that HBML may, in its sole discretion, apply an applicable filter to reject an Instruction submitted by the Client;
3. that any limits and controls imposed by HBML shall solely be for HBML’s protection and accordingly, HBML will not be in any way whatsoever be responsible for monitoring or ensuring the Client’s compliance with any limits imposed by Applicable Laws or by any party;
4. that HBML shall be entitled to decline to act on Instructions and/or execute a Transaction, suspend the Client’s access to the Account, require the Client to take certain steps, and/or take any other action that HBML considers appropriate, in order to comply with Applicable Laws or any limits or controls as set out herein;
5. that provided that such limits or controls have been notified to the Client at the time that they are imposed, the Client shall indemnify HBML against any Loss as a result of the Client’s breach of any limits or controls imposed by HBML pursuant to this Clause 11.

14. Holding and Disposal of Digital Assets
    1. The Client authorizes HBML to hold the Client’s Digital Assets and/or fiat currencies (if and where applicable) on behalf of the Client in a segregated Account established by HBML or the Custodian. The Client agrees not to pledge, charge, sell, grant an option or otherwise deal in any Digital Assets or fiat currencies (if and when deposits of fiat currencies are accepted on HashKey Exchange) forming part of any Account without HBML’s prior written consent.
    2. Where Digital Assets are held by HBML on behalf of the Client pursuant to Clauses 13 to 17 and Clause 28, and subject to any other clauses in relation to Airdrops and Forks, the Client authorizes HBML (or, where applicable, the Custodian) to, collect, receive and credit any income, payments and other distributions or benefits in respect of such Digital Assets and/or fiat currencies to the Account. Where the Digital Assets and/or fiat currencies form part of a larger holding of identical Digital Assets and/or fiat currencies held for HBML’s other clients, the Client is entitled to the same share of the income, payments or other distributions or benefits arising from the holding as the Client’s share of the Digital Asset and/or fiat currencies out of the total holding of the Digital Asset and/or fiat currencies on HashKey Exchange. Where a distribution is made either in the form of cash dividend or another form, the Client authorized HBML to elect and receive on behalf of the Client a cash dividend of such form as it considers fit in the absence of any contrary prior written Instruction from the Client.
    3. Neither HBML nor the Custodian bound to redeliver to the Client the identical Digital Assets and/or fiat currencies received from or for the Client but may redeliver to the Client Digital Assets of like quantity, nominal amount, type and description and that have equal rank in every respect with the Digital Assets and/or fiat currencies originally delivered or deposited subject to any capital re-organization or conversion or other corporate action that may have occurred in the interim.
    4. Digital Assets and/or fiat currencies held by HBML through the Custodian pursuant to Clauses 13 and 17 are held by HBML at the sole risk of the Client and to the extent permitted by Applicable Laws, HBML shall not be responsible for, or liable in respect of, any Loss suffered by the Client in connection herewith unless such Loss has been caused as a direct consequence of an act of gross negligence, fraud or willful misconduct on the part of HBML.

17. any fiat currency (if and where applicable) in the Client’s Account to an external designated bank account in the Client’s name; and
18. any Digital Assets recorded in the Client’s Account to a designated external address that can hold
    the relevant Digital Asset and is under the Client’s control,

1. has received, read and understood all relevant documents that make up the Agreement;
2. has received, and/or solicited adequate information in relation to the Digital Assets and the Transactions;
3. (should not, unless otherwise specified by HBML, rely on any written or oral communication or information from HBML, and in connection with each Digital Asset or Transaction, the Client shall make decisions based on the Client’s own judgment and on advice from independent advisors the Client has considered necessary; and
4. has made a decision to enter into the Agreement and the Transaction, based on his own judgement and on advice from such independent advisors as he has considered necessary;
5. the Agreement constitutes a valid and legally binding agreement between HBML and the Client enforceable in accordance with its terms;
6. these Terms and performance of the Client’s obligations contained herein do not and will not:
7. contravene any existing Applicable Law, statute, ordinance, rule or regulation or any judgment, decree or permit to which the Client is subject;
8. violate any public interests, public ethics or other legitimate interests and will not constitute evasion of payable Taxes or fees; or
9. conflict with, or result in any breach of, the terms of, or constitute any default under, any agreement or other instrument to which the Client is a party or subject, or by which any of the Client’s property is bound;
10. unless otherwise agreed by HBML, the Client is and will remain the owner of the Digital Assets in the Account free from any lien, charge, equity or encumbrance save as created by these Terms and will not charge, pledge or allow to subsist any charge or pledge over the Digital Assets or monies in the Account or grant or purport to grant an option over any Digital Assets or monies in the Account without HBML’s prior written consent;
11. unless as otherwise agreed by HBML, the Client is the person ultimately responsible for originating the Instruction in relation to each Transaction in the Account and shall stand to gain the commercial or economic benefit of such Transactions and/or bear their commercial or economic risk;
12. the Client is solely and wholly responsible for the security of the Client’s Account and has not revealed any login details (including email address and/or passwords) of the Client’s Account to any unauthorized person. All actions being conducted through the Account are duly authorized by the Client;
13. the Client is experienced, has the necessary knowledge in trading the Digital Assets and has received all necessary legal and financial advice prior to entering into Transactions concerning the purchase, acquisition, holding, sale or disposal of any Digital Assets;
14. the Client is not prohibited by Applicable Laws of any jurisdiction from dealing with Digital Assets when opening an Account and at the time of undertaking any activities on HashKey Exchange, and has provided all necessary information and documents to HBML to assess its qualification status;
15. the Client is not a citizen, resident of, or located in, the list of prohibited jurisdictions published on the Website from time to time;
16. the Client has passed all compliance checks by HBML (including but not limited to KYC requirements, AML/CFT Requirements, and risk tolerance);
17. Client has obtained all necessary authorizations and consents, and taken all necessary corporate actions to make all payments and deliveries contemplated by the Agreement;
18. to the extent the Client represents one or more businesses or franchises, that the Client is acting as their authorized representative, and that both the Client and the entity that the Client represents will be bound by these Terms;
19. neither the Client, nor any assets owned by the Client, has immunity from the jurisdiction of a court or from legal process in any place and the Client has not committed or been convicted of any Tax or other criminal offence in any jurisdiction;
20. the Client’s registration and the Client’s use of HashKey Exchange will be consistent with the representations, covenants and restrictions contained herein;
21. there is no pending or threatened action, suit or proceeding at law or in equity before any court, tribunal, Government Agency or any arbitrator that is likely to affect the legality, validity or enforceability against the Client of the Agreement, or the Client’s ability to perform his obligations under the Agreement; and
22. there has been no Event of Default, and no event has occurred which may, with the giving of notice or lapse of time or fulfilment of any condition, become an Event of Default.
23. The Client further undertakes that:
    1. the Client will notify HBML in writing of any change in the information mentioned in Clause 22.1 above;
    2. when purchasing or dealing in any Digital Assets, the Client will ensure that the Client is not, and is not acting on behalf of, any person who is a Proscribed Person;
    3. the Client shall immediately notify HBML if there is any change relating to its qualification status to use HashKey Exchange and cease trading on HashKey Exchange. The Client shall provide all necessary information or documents upon request to HBML in connection with assessing its qualification status;
    4. the Client shall comply with any restrictions and prohibition on the use of HashKey Exchange and declare that the Client is not a PRC Person, “specified U.S. Person” under U.S. tax principles or a “U.S. owned foreign entity”, a U.S. citizen (sole or dual citizenship), a holder of an active U.S. Green Card or a U.S. resident for Tax purposes;
    5. the Client shall not interfere with the operation of HashKey Exchange or the use of HashKey Exchange by other clients by technical or any other means;
    6. the Client shall not use HashKey Exchange to engage in any money-laundering activities, smuggling activities, commercial bribery activities, or any other illegal activities;
    7. the Client shall report suspected fraud or other security breaches to the Client account to HBML;
    8. without HBML’s prior written consent, the Client shall not use any automated means or interface not provided by HBML to access HashKey Exchange or extract HashKey Exchange data;
    9. the Client shall not attempt to circumvent any content filtering techniques that HashKey Exchange employs, or attempt to access any parts of HashKey Exchange and the Website that the Client is not authorized to access;
    10. the Client shall not develop any third party applications that interact or interfere with HashKey Exchange without HBML’s prior written consent;
    11. the Client shall not use or attempt to use the Accounts of other HBML clients without their authority;
    12. without the prior written consent of HBML, the Client shall not grant, lend, lease, transfer, dispose, or provide access to his/its Account to others by any other means;
    13. the Client shall not defame HBML’s goodwill or reputation;
    14. the Client shall not encourage or induce any third party to engage in any of the activities prohibited under these Terms; and
    15. the Client shall comply at all times with all of the requirements of the Agreement.

1. the Client is no longer eligible to use the Services;
2. any information provided by the Client is incomplete, untrue or inaccurate;
3. the Client fails to duly and punctually observe or perform any of the undertakings, duties and obligations in these Terms or otherwise any provision of the Agreement;
4. any failure by the Client to pay sums of whatever nature when due under the Agreement;
5. the Client’s insolvency or liquidation, the filing of a petition in winding up or the commencement of any analogous proceedings against the Client;
6. the levying of any attachment against the Account or the Client’s other property;
7. without the prior written consent of HBML, a debit balance on any Account of the Client;
8. any representation or warranty made by the Client to HBML in the Agreement being incorrect or misleading;
9. any dispute or proceedings against the Client or (if a body corporate) its directors or shareholders in connection with HBML; or
10. any other matter or event including any legal or regulatory requirement which in HBML’s opinion renders termination of all or any part of the Agreement necessary or advisable in HBML’s interests.
11. The Client agrees to immediately notify HBML upon the occurrence of an Event of Default.

2. HBML may also terminate these Terms immediately upon the occurrence of any one or more of the following events:
   1. the occurrence of any of the Events of Default referred to in Clause 26.1;
   2. the withdrawal of the Client’s authorization to HBML to hold Digital Assets on behalf of the Client;
   3. where HBML reasonably suspects that the Client's Account is used by persons other than the Client or any Authorized Person(s) or for market misconduct referred to in Clause 40 or any illegal, fraudulent, or unauthorised purpose;
   4. where HBML is required to do so by Applicable Law, or any court or authority to which HBML is subject in any jurisdiction;
   5. the use of the Client's Account is subject to any pending, ongoing or threatened litigation, investigation, or judicial, governmental or regulatory proceedings and/or HBML perceives a heightened risk of legal or regulatory non-compliance associated with the Account activity;
   6. where HBML has reasonable concerns regarding the Client's creditworthiness or financial status, including but not limited to situations where the Client becomes insolvent or bankruptcy proceedings are filed against the Client;
   7. where HBML suspects that there is an occurrence of money laundering, terrorist financing, fraud or any other crime in connection with the Account or the Client's use of the Services;
   8. where the Client no longer maintains an Account with HashKey Exchange; or
   9. there is any other valid reason which requires HBML to do so.

3. The Client acknowledges and agrees that the events set out in Clause 43.2 is a non-exhaustive list and HBML's decision to take certain actions, including but not limited to termination, suspension or restriction of access to or trade under an Account or any Product or Services may be based on confidential reasons that are essential to HBML's risk management, security or other compliance protocols.

4. In addition to the above, HBML may suspend, restrict, or terminate the Account (and any accounts beneficially owned by related entities or affiliates of the Client), freeze, or lock the funds in all such Accounts, and suspend the Client's access to the HashKey Exchange where:
   1. the Client acts in a manner that is abusive of the Account as reasonably determined by HBML;
   2. HBML decides not to provide any services in relation to the Account;
   3. where HBML detects unusual activity or suspects that the Account is being used to engage in illegal activities;
   4. if the Client fails to pay the fees and charges included or the Client fails to pay any amount owing to HBML or its Affiliates;
   5. the Account is subject to a government proceeding, criminal investigation, or other pending litigation;
   6. HBML is required to do so by a court order or command by a regulatory/government authority; or
   7. any other circumstance which requires HBML to do so.

5. Termination of these Terms under this Clause is without prejudice to any other provisions of these Terms and shall not affect:

6. Upon termination of these Terms under this Clause, all amounts due or owing by the Client to HBML under these Terms shall become immediately due and payable. Within a commercially reasonable period following termination and subject to these Terms and Applicable Laws and provided that the Account is not suspended or restricted in accordance with Clause 43.4 above, HBML shall release or otherwise return all Client assets held by HBML to the Client.

7. All provisions in the Agreement in connection with payments, clawbacks, indemnities, limitation of liability, disclosure of information (including confidentiality), set-off, currency conversion, Tax, and the provisions in Part 2 (General Provisions) survive termination of the Agreement.

2. We may not be able to continue providing any Services to the Client if the Client objects to the amendment.

65. Class action waiver
    1. Each party agrees that any Dispute shall be referred to arbitration in accordance with Clause 62 on an individual basis only and not as a claimant or class member in a purported class or representative action.
    2. The Client agrees to waive any right for such Disputes to be brought, heard, or arbitrated as a class, collective, representative, or private attorney general action, to the extent permissible by Applicable Law. Combining or consolidating individual arbitrations into a single arbitration is not permitted without the consent of HBML.

67. Survival

68. Confidentiality

HASHKEY BERMUDA LIMITED

CLIENT RISK DISCLOSURES STATEMENT

1. the continuing evolution of Digital Assets and how this may be affected by global regulatory developments. The polymorphous and evolving features of Digital Assets mean that they may be, or claim to be, a means of payment, may confer a right to present or future earnings or enable a token holder to access a product or service, or a combination of any of these functions. Although Digital Assets are becoming more popular in some parts of the world, the global regulatory landscape remains uneven. There may be inconsistent and inadequate regulation or other legal, trade, fiscal, monetary and exchange control programs and political changes that may negatively impact the value of Digital Assets;
2. most trading, lending or other dealing platforms, custodians of Digital Assets or other Digital Asset service providers are private companies which may be unregulated or only subject to light-touch regulation (e.g. for payment purposes). As such, they may not be subject to the same robust regulation and transparent rules as service providers or products in traditional financial markets, posing additional counterparty risks for Digital Asset related products, and may be exposed to market manipulative and abusive activities. In particular, the offering documents or product information relating to Digital Asset related products provided by the relevant issuer may not be subject to regulatory approval. Legal and regulatory changes beyond the control of the Digital Asset service providers may restrict or otherwise impact the trade of Digital Assets;
3. counterparty risks when effecting transactions with issuers, private buyers and sellers or through trading, lending or other dealing platforms. There is a risk that these counterparties may become insolvent;
4. risk of the loss of Digital Assets, especially if held in hot wallets (i.e. online environments which provide an interface with the internet). These can be prone to hacking. Cyber-attacks resulting in the hacking of Digital Asset trading platforms and theft of Digital Assets are common. The holders of the Digital Assets may not recover any of their Digital Assets, and may have difficulty recovering losses from hackers or trading platform operators.;
5. new risks which may arise from investing in new types of Digital Assets or market participants’ engagement in more complex transaction strategies. Digital Assets and the digital industry are therefore subject to substantial speculative interest, rapid price swings and uncertainty. In addition, Digital Assets operate without central authority (such as a bank) and are generally not backed by government. The slowing, stopping or reversing of the development or acceptance of a particular Digital Asset may adversely affect the Digital Asset’s price; and
6. we, or an applicable regulatory authority, may reasonably determine additional disclosures related to trading in Digital Assets to be necessary for the protection of clients from time to time. The most recent risk disclosures provided by us will apply to your investment, and you are responsible for reviewing any updated disclosures.