Terms and Conditions

Terms and Conditions of KEMFINITY s.r.o.

Effective Date: Nov 1st 2024

Welcome to KEMFINITY s.r.o. (“we,” “us,” “our”). By accessing or using our services, you agree to be bound by these Terms and Conditions (“Terms”). Please read them carefully.

1. General Provisions

1.1 These Terms govern the use of our website, services, and products offered by KEMFINITY s.r.o., a Czech Limited Liability Company registered under IČO 22162194, with its registered office at Chudenická 1059/30, Hostivař, 102 00 Praha 10.

1.2 By using our services, you confirm that you are at least 18 years old and have the legal capacity to enter into this agreement.

1.3 These Terms are governed by the laws of the Czech Republic, in particular the Czech Civil Code (Act No. 89/2012 Coll.).

2. Services and Products

2.1 KEMFINITY s.r.o. provides crypto exchange services as well as the ability to send, buy, and sell crypto.

2.2 We reserve the right to modify, suspend, or discontinue any aspect of our services without prior notice.

2.3 Product availability is subject to change, and we are not liable for delays caused by supply chain issues or unforeseen circumstances.

2.4 Savings Service Overview

By opting into the KEM savings feature, you authorise KEM to allocate funds you designate into Ethena’s USDe-based savings product. Your savings will be converted to USDe and staked into sUSDe (or equivalent yield-bearing products offered by Ethena Labs) to earn potential interest.

2.4.2 Interest Rate

KEM aims to provide the customer with an interest rate of approximately 5.5% APY on savings held through Ethena’s USDe-based product.

Important: This rate is indicative only. It reflects the current expected yield from Ethena at the time of offering. The actual interest rate may vary at any time due to market conditions, changes in Ethena’s operations, or other external factors outside of KEM’s control.

2.4.3 No Guarantee

KEM does not guarantee that any particular rate of return will be achieved on your savings.
KEM is not liable for any reduction, suspension, or loss of yield resulting from Ethena’s platform performance, market volatility, or operational risks associated with the Ethena protocol or its partners.
All interest accrued will depend on the net yield received from Ethena after any associated fees, adjustments, or network costs.

2.4.4 Risks

By participating in the KEM savings feature:

You acknowledge that your funds are exposed to the risks of Ethena’s platform, including but not limited to smart contract risk, de-pegging risk, market volatility, exchange counterparty risk, and regulatory changes affecting Ethena’s operations.
You understand that your savings are not protected by the UK Financial Services Compensation Scheme (FSCS) or equivalent government guarantee.

2.4.5 Liability Limitation

To the maximum extent permitted by law:

KEM is not liable for any direct, indirect, incidental, consequential, or special loss or damage arising out of or in connection with your use of the savings feature.
KEM shall not be liable for any losses related to changes in interest rates, temporary or permanent unavailability of Ethena services, or the loss of funds caused by third-party platforms or protocols.

2.4.6 Changes to the Savings Feature

KEM reserves the right to modify, suspend, or terminate the savings feature at any time, including adjusting the indicative interest rate, terms of participation, or platform partner (e.g., Ethena).

Where practicable, KEM will provide reasonable notice via the app or by email.

2.4.7 User Acknowledgement

By using the KEM savings feature:

You agree that KEM acts as a facilitator, not as an issuer, guarantor, or manager of any yield or return on savings.
You acknowledge and accept all risks associated with savings through Ethena.

2.5 Card Issuance & Data Security

Kem cards are issued through licensed third-party card issuers. Depending on your location, your Kem card will be issued either by Rain Card or Interlace. The relevant issuer will be clearly identified to you at the time of card issuance and remains responsible for the card programme and associated regulatory obligations.
To protect your privacy and security, Kem does not store, process, or retain any cardholder data within the Kem network infrastructure. All sensitive payment information is securely handled by our card issuing partners and their regulated payment networks, in accordance with applicable data protection laws and industry security standards.
Kem accesses the limited information necessary to provide and support our services and does not have access to your full card details (such as complete card numbers or security codes) at any time.

3. Orders and Payments

3.1 Orders are confirmed upon receipt of payment or upon specific agreement otherwise.

3.2 Prices are listed in various currencies and include VAT unless otherwise stated.

3.3 Payments must be made through approved methods: Bank Transfer, Apply pay, Credit card, Debit Card.

3.4 We reserve the right to cancel orders if payment is not received.

3.5 Overdrafts:

3.5.1. Eligibility for Overdraft

Users with a positive holdings balance or other posted assets on the Platform (e.g., investments, cryptocurrencies, equities) may be eligible to access an overdraft facility, a short-term extension of funds beyond their current available balance.

3.5.2 Available Overdraft Limit

The maximum overdraft amount available to a user will be determined by the fair-market value of their on‑platform assets, any open orders, and applicable Platform limits. The Platform reserves the right to recalculate or adjust the overdraft limit periodically based on asset valuations or market conditions.

3.5.3 Repayment Terms

Users are expected to repay their overdraft balance within 30 days. The Platform may impose fees, interest, or other charges on overdue overdrafts in accordance with our Pricing and Fees schedule.

3.5.4 Default and Asset Liquidation

If one of the following events occurs:

The user fails to repay the full overdraft and any accrued interest/fees by the due date (“Late Repayment”),
The overdraft balance becomes disproportionately large compared to the value of the user’s posted assets, as determined by risk and margin thresholds (“Margin Breach”),

...then the Platform reserves the right to automatically sell, transfer, or liquidate a portion of the user’s assets (including cash, securities, crypto, or other assets held on‑platform) to cover the outstanding overdraft, interest, and fees. We will strive to sell the minimum amount necessary to restore compliance with repayment terms.

3.5.5 Notification and Exercise of Rights

Prior to any asset liquidation, the Platform will:

Issue a notification (via email, in-app alert, or other usual communication channels) stating the amount overdue or margin ratios triggered,
Provide a short remedial period, 10 days, during which the user may deposit funds, transfer assets, or initiate repayment to avoid liquidation.

However, if repayment is still not made within the remedial window, the Platform may proceed with partial or complete liquidation, without further consent.

3.5.6 Post-Liquidation Consequences

Once liquidation occurs, the resulting proceeds will be applied first toward the outstanding overdraft balance, then accrued fees/interest, and any remaining funds will be returned to the user’s account. The Platform retains the right to take further collection actions for any shortfall amount.

3.5.7 User Acknowledgment and Consent

By accepting these Terms, the user acknowledges and agrees:

To be bound by the repayment conditions and risk parameters set by the Platform,
That the Platform may liquidate assets to repay the overdraft if repayment is late or collateral value is insufficient,
That liquidation may occur automatically, without prior consent, after notification and the remedial period.

4. Consumer Rights

4.1 In accordance with the Consumer Protection Act (Act No. 634/1992 Coll.), consumers are entitled to a 14-day withdrawal period for online purchases.

4.2 To exercise the right of withdrawal, consumers must notify us in writing via email at [email protected] within 14 days of receiving the product.

4.3 Refunds for withdrawals will be processed within 14 days of receiving the returned product in its original condition.

4.4 Certain products/services are exempt from the withdrawal period, such as custom-made goods or services already rendered.

5. Liability and Warranty

5.1 We provide warranties for our products and services as required under Czech law.

5.2 We are not liable for damages resulting from:

Improper use of our products/services.
Third-party actions beyond our control.
Force majeure events, including natural disasters or government restrictions.

5.3 Claims for defects must be submitted in writing within 2 months of discovery.

6. User Obligations

6.1 Users agree not to:

Use our services for unlawful purposes.
Violate intellectual property rights associated with our products or services.
Provide false or misleading information during the registration or order process.

6.2 Users are responsible for ensuring the security of their account credentials and activities under their account.

6.3 We reserve the right to suspend or terminate your access to the app and associated services at our sole discretion, with or without prior notice, if we determine that your activity violates our Terms of Use, is fraudulent, harmful to other users, or poses a risk to the platform’s integrity or security. This includes the right to block, restrict, or deactivate your account unilaterally.

6.4 In the event of such termination, we may implement technical and administrative measures to prevent further access, including but not limited to blacklisting your IP address, device identifiers, email addresses, and other personal identifiers or account information that can uniquely identify you or your access to our systems. These measures are taken to enforce our Terms, protect our users, and maintain the safety and stability of our platform.

6.5 Any use of the platform that, in our sole discretion, threatens the integrity, security, or functionality of the app, or the safety of its users, is strictly prohibited. This includes, but is not limited to, promotion abuse, attempting to hack, reverse engineer, decompile, or otherwise interfere with the app’s codebase, infrastructure, or security features; using the platform to facilitate or engage in fraudulent activities such as impersonation, identity theft, or chargeback abuse; transmitting or uploading malicious software, viruses, or harmful code; manipulating market data, pricing, or reputation scores through wash trading, fake accounts, or other forms of artificial inflation; phishing or harvesting the personal data of other users without consent; circumventing verification processes or submitting false identification or documentation during KYC/AML procedures; deploying automated scripts, bots, or scraping tools to access or overload the platform; conducting or soliciting transactions involving illegal goods, services, or funds; harassing, threatening, or attempting to coerce other users; and undermining the dispute resolution process through dishonest or obstructive behaviour.

7. Intellectual Property

7.1 All content on our website, including text, images, and trademarks, is the intellectual property of Kem Technologies Holding Ltd. or licensed to us.

7.2 Unauthorized reproduction or distribution of our intellectual property is strictly prohibited.

8. Data Protection

8.1 Our processing of personal data is governed by our Privacy Policy, in compliance with GDPR and Czech Act No. 110/2019 Coll. on Personal Data Processing.

8.2 By using our services, you consent to the collection and processing of your data as outlined in our Privacy Policy.

9. Dispute Resolution

9.1 Any disputes arising from these Terms shall be governed by the laws of the Czech Republic.

9.2 In the event of a dispute, users may contact the Czech Trade Inspection Authority (Česká obchodní inspekce) or seek resolution through courts in the Czech Republic.

9.3 Out-of-court settlements may also be pursued through the European Online Dispute Resolution platform (ODR).

9.4 All parties must pursue ADR prior to engaging in litigation.

10. Amendments

10.1 We reserve the right to update or modify these Terms at any time. Changes will take effect upon publication on our website.

10.2 Users will be notified of significant changes via email or a prominent notice on our website.

11. Contact Information

For inquiries or concerns regarding these Terms, please contact us:

KEMFINITY s.r.o.

Address: Chudenická 1059/30, Hostivař, 102 00 Praha 10

Email: [email protected]

Phone: +965 94997337

Seth Sadeq  CEO

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