These Button Labs Terms of Service (“Terms”) apply to your access to and use of the Button website available at www.button.xyz, the application available at app.button.xyz, and Button’s related software, tools, agents, interfaces, plugins, application programming interfaces, and services (collectively, our “Services”) provided by Button Labs, Inc. (“Button” or “we” or “us”).

PLEASE READ THESE TERMS CAREFULLY, INCLUDING THE MANDATORY ARBITRATION PROVISION IN SECTION 17, WHICH REQUIRES THAT DISPUTES BE RESOLVED BY FINAL AND BINDING ARBITRATION ON AN INDIVIDUAL BASIS, NOT A CLASS-WIDE OR CONSOLIDATED BASIS. IF YOU DO NOT WISH TO BE SUBJECT TO ARBITRATION, YOU MAY OPT OUT OF THE ARBITRATION PROVISION BY FOLLOWING THE INSTRUCTIONS PROVIDED IN SECTION 17.

By accessing or using our Services, joining a waitlist, creating an account, connecting a wallet or account, subscribing to a paid plan, or clicking to accept these Terms, you agree to be bound by these Terms and all terms incorporated by reference, including our Privacy Policy. If you do not agree to these Terms in their entirety, do not use our Services.

We may make changes to these Terms from time to time. If we make changes, we will provide you with notice of such changes, such as by sending an email, providing a notice through our Services, requesting renewed assent where appropriate, or updating the date at the top of these Terms. Unless we say otherwise in our notice, the amended Terms will be effective immediately, and your continued use of our Services after we provide such notice will confirm your acceptance of the changes. If you do not agree to the amended Terms, you must stop using our Services.

If you have any questions about these Terms or our Services, please contact us at legal@button.xyz.

1. What Button Is — and What It Is Not

Button is an agentic software and information tool that allows users to describe investment or trading theses in plain language, research and generate quantitative strategy code, backtest strategies, create and view artifacts, configure automations, and, where a user elects to connect and deploy, facilitate routing of orders to third-party execution venues and wallets that Button does not own or operate. The Services may include:

AI-assisted research, analysis, coding, backtesting, artifacts, and strategy-generation tools, including tools that may generate or summarize trading theses, signals, quantitative code, and other outputs;
A yield module that deploys user assets into automated strategies (including, for example, basis trades) with the goal of generating yield;
Portfolio, brokerage-account, wallet, and market-data tools, including read-only brokerage account connections and integrations with data, social, and execution providers;
Automations and routing tools that may allow users to deploy strategies through third-party wallets, accounts, protocols, or venues, including Hyperliquid, subject to plan limits, venue availability, and applicable law; and
Other products, interfaces, subscriptions, paid features, plugins, APIs, and features that we may introduce from time to time.

Certain Services may be offered on a limited, waitlist, preview, beta, or experimental basis. Joining a waitlist or subscribing to a plan does not guarantee access to any particular feature, integration, venue, data source, automation, model, or output, and we may add, modify, suspend, or discontinue any feature at any time.

The Services are software and information tools only. Button is not a broker, dealer, futures commission merchant, investment adviser, commodity trading advisor, commodity pool operator, exchange, custodian, clearing firm, or execution venue, and Button does not provide brokerage, custody, clearing, execution, investment, financial, legal, tax, or accounting advice. You are solely responsible for evaluating all outputs and for every trading, investment, tax, and regulatory decision you make.

2. Privacy

For information about how we collect, use, share or otherwise process personal information about you, including account information, usage data, connected-account data, wallet information, payment and subscription information, communications, and information received from third-party integrations, please see our Privacy Policy. Where applicable, the Privacy Policy and any supplemental notices describe rights and disclosures required under privacy laws such as the California Consumer Privacy Act, the California Privacy Rights Act, the General Data Protection Regulation, and other privacy or data-protection laws.

3. Eligibility

You must be at least 18 years of age, or the age of majority where you reside, and legally permitted to use the Services in your jurisdiction. If you use our Services on behalf of another person or entity, (a) all references to “you” throughout these Terms will include that person or entity, (b) you represent that you are authorized to accept these Terms on that person’s or entity’s behalf, and (c) in the event you or the person or entity violates these Terms, the person or entity agrees to be responsible to us.

You may not use the Services, or any feature of the Services, if you are located in, ordinarily resident in, organized in, or accessing the Services from a jurisdiction where the Services or any connected execution venue, market-data provider, wallet, payment provider, or other Third-Party Service is prohibited or restricted, including any jurisdiction subject to comprehensive sanctions (including but not limited to the list maintained by the Office of Foreign Assets Control of the U.S. Department of the Treasury). You also may not use the Services if you are the subject of economic or trade sanctions, export-control restrictions, or watchlist restrictions, or if transactions with you are otherwise prohibited under applicable law. We may restrict, condition, or deny access based on your location, residency, status, or eligibility, and may require identity, residency, sanctions, tax, or other eligibility verification as a condition of access to all or part of the Services.

4. User Accounts, Access and Acceptable Use

You may need to register for an account, subscribe to a paid plan, connect a supported wallet, or connect a supported third-party account to access some or all of the Services. You must provide accurate information, maintain the security of your wallet, account, credentials, and payment information, and you are solely responsible for all activities that occur through your account, wallet, credentials, or connected services.

You will not violate any applicable law, regulation, sanctions regime, contract, intellectual property right, privacy right, publicity right or other third-party right, commit a tort, evade eligibility or geographic restrictions, or misuse any trading, automation, AI, market-data, wallet, payment, or connected-account feature. You agree to immediately notify us at legal@button.xyz of any unauthorized use of your account or any other breach of security you become aware of. We are not responsible or liable for any loss or other injury that you may incur as a result of someone else using your account, wallet, credentials, connected account, or payment method, either with or without your knowledge.

By creating an account with the Services, you consent to receive communications from us electronically via the email address associated with your account. Although you can opt-out of receiving promotional communications, we reserve the right to email you informational communications about your account or administrative notices regarding the Services, as permitted under the CAN-SPAM Act.

You are expressly prohibited from selling, trading, or transferring your account (including but not limited to, selling, trading, or transferring emails associated with such account). We have final discretion in granting accounts and reserve the right to reject users without explanation.

In addition, you will not:

modify, copy, distribute, transmit, display, perform, reproduce, duplicate, publish, license, create derivative works from, or offer for sale any information or content obtained from the Services, or as otherwise expressly permitted by us or our licensors;
use, reproduce or remove any copyright, trademark, service mark, trade name, slogan, logo, image, or other proprietary notation displayed on or through the Services;
use the Services in violation of any law, regulation, sanctions regime, third-party right, third-party terms, exchange rule, market rule, or eligibility or geographic restriction, including through a VPN, proxy, false location, false identity, or misrepresentation;
engage in market manipulation, front-running, wash trading, spoofing, layering, abusive trading, deceptive trading, or any other conduct that could violate exchange, market, securities, commodities, derivatives, digital-asset, anti-money laundering, sanctions, or consumer-protection laws;
use automation software (e.g., bots), hacks, modifications, or any other unauthorized software designed to access, use, or modify the Services, except as expressly permitted by the protocol;
access the Services by bots, scripts, automated means, or APIs except through interfaces we expressly provide, or exceed rate limits, usage caps, subscription limits, or automation limits;
access or use the Services in any manner that could disable, overburden, damage, disrupt or impair the Services or interfere with any other party’s access to or use of the Services;
deliberately input false, misleading, infringing, manipulated, or tampered data, prompts, theses, code, market data, social content, account information, or other materials, or otherwise attempt to manipulate any output, backtest, signal, strategy, automation, routing decision, trading activity, fee, or platform result;
attempt to gain unauthorized access to, interfere with, damage or disrupt the Services, or the smart contracts, wallets, computer systems or networks connected to the Services;
circumvent, remove, alter, deactivate, degrade or thwart any technological measure of the Services or any of the computer systems, wallets, accounts, protocols or networks connected to the Services;
use any robots, spiders, crawlers or other automatic devices, processes, software or queries that intercept, “mine,” scrape or otherwise access the Services to monitor, extract, copy or collect information or data from or through the Services, or engage in any manual process to do the same;
reverse engineer, decompile, scrape, extract prompts or model logic from, or create derivative works from the Services, or use the Services, Outputs, data, prompts, models, or interfaces to build or train a competing product;
introduce any viruses, trojan horses, worms, logic bombs or other materials that are malicious or technologically harmful into our systems or smart contracts;
impersonate any other person or entity using the Services, including by falsely stating, implying or otherwise misrepresenting your affiliation with any person or entity;
violate any applicable law or regulation in connection with your access to or use of the Services, including any laws governing securities, commodities, derivatives, digital assets, money transmission, market manipulation, sanctions, export controls, privacy, data protection, or intellectual property;
access or use the Services in any way other than for their intended purpose and in any manner that could interfere with, disrupt, negatively affect or inhibit other users from fully enjoying our Services;
resell, sublicense, white-label, provide service-bureau access to, or commercially exploit the Services, Outputs, data, or models except as expressly permitted by these Terms or a separate written agreement with us;
engage in any activity that markets another business or attracts users to a third party;
engage in or promote illegal activities; or
access or use the Services, including execution, automation, market-data, social-ingestion, wallet, brokerage, or payment features, if you are located in, a citizen or resident of, organized in, or otherwise subject to a jurisdiction or person-type for which access is restricted or prohibited by us, a Third-Party Service, or applicable law.

Enforcement of this Section 4 is solely at our discretion, and failure to enforce this section in some instances does not constitute a waiver of our right to enforce it in other instances. In addition, this Section 4 does not create any private right of action on the part of any third party or any reasonable expectation that the Services will not contain any conduct that is prohibited by such rules.

5. DMCA Notice

We respect the intellectual property rights of others and expect users to do the same. In appropriate circumstances, and at our sole discretion, we may terminate and/or disable access to and use of the Services by users suspected of infringing the copyrights (or other intellectual property rights) of others. Additionally, in appropriate circumstances, and in our sole discretion, we may remove or disable access to material on any of our websites or hosted on our systems that may be infringing or the subject of infringing activity.

In accordance with the Digital Millennium Copyright Act of 1998, 17 U.S.C. § 512 (“DMCA”), we will respond promptly to claims of copyright infringement reported to our agent designated to receive notifications of infringement claims (“Designated Agent”). If you are a copyright owner (or authorized to act on behalf of the owner) and believe that your copyrighted work has been infringed, please submit a written notice to our Designated Agent that substantially includes the following:

A physical or electronic signature of a person authorized to act on behalf of the copyright owner;
Identification of the copyrighted work claimed to have been infringed;
Identification of the material that is claimed to be infringing and information reasonably sufficient to help us locate the material;
Information reasonably sufficient to permit us to contact you, such as a mailing address, telephone number, and email address;
A statement that you have a good faith belief that use of the material in the manner complained of is not authorized by the copyright owner, its agent, or the law; and
A statement that the information in the notice is accurate, and under penalty of perjury, that you are the owner, or authorized to act on behalf of the owner, of the copyright or of an exclusive right under the copyright that is allegedly infringed.

The written notice, along with any accompanying items, must be submitted to our Designated Agent at:

ATTN: DMCA Agent
Button Labs, Inc.
legal@button.xyz

If you send your notice by email, please make sure to write “DMCA Copyright Notice” in the subject line. We will investigate notices of copyright infringement and take appropriate actions under the DMCA. Inquiries that do not follow this procedure may not receive a response.

6. User Inputs, Outputs and Data

You may provide, connect, designate, or make available to the Services prompts, theses, watchlists, portfolio information, brokerage-account information, wallet information, social-media content, third-party research, market-data sources, files, code, strategy parameters, and other content or information (collectively, “User Inputs”). As between you and us, you retain ownership rights in your User Inputs, subject to the licenses and rights granted in these Terms.

By using the Services, you authorize and instruct us, our service providers, and our automated systems to host, access, process, analyze, transform, transmit, and use User Inputs and connected-account information as necessary to provide, secure, operate, support, and improve the Services, including:

generating, summarizing, researching, coding, backtesting, and presenting strategies, signals, artifacts, automations, and other outputs (“Outputs”);
connecting to and retrieving information from brokerage accounts on a read-only basis, wallets, market-data feeds, social-media accounts, and other Third-Party Services that you authorize;
routing instructions, orders, or transactions that you choose to deploy through third-party wallets, protocols, accounts, or execution venues; and
creating aggregated, anonymized, or de-identified data, analytics, usage statistics, performance metrics, and security signals to operate, maintain, develop, and improve the Services.

Subject to these Terms and to the rights of third parties and underlying model or data providers, and to the extent permitted by law, you may use Outputs generated for you through the Services. Outputs may be non-unique, identical or similar outputs may be generated for other users, and no exclusivity is granted.

Outputs may be inaccurate, incomplete, non-current, noncompliant, unsuitable, or based on errors or limitations in User Inputs, third-party data, market data, model behavior, or automated systems. You must independently verify all Outputs before relying on them, and Button makes no representation that any Output, strategy, signal, code, backtest, analysis, or automation is accurate, current, complete, compliant, profitable, or fit for any purpose.

You represent and warrant that you have all rights, licenses, consents, and permissions necessary to provide, connect, designate, or use User Inputs, third-party research, social-media content, brokerage information, wallet information, market data, and any other materials with the Services, and that doing so does not violate any law, third-party right, source terms of use, confidentiality obligation, or other obligation.

We may generate or develop aggregated, anonymized, or de-identified data derived from User Inputs and from activity in the Services (“Deidentified Data”). We may also collect usage statistics, performance metrics, security signals, model-evaluation data, and other analytics regarding your interactions with the Services (“Analytic Data”). We own all right, title, and interest in and to Deidentified Data and Analytic Data, which we may use to operate, maintain, develop, secure, and improve the Services, subject to our Privacy Policy and applicable law.

7. Ownership; Limited License

All right, title, and interest in and to the Services, Deidentified Data, and Analytic Data, including all software, models, agents, prompts, workflows, interfaces, designs, APIs, datasets, market-data integrations, plugins, and related intellectual property are owned by us or our licensors and are protected under both United States and foreign laws. Except as explicitly stated in these Terms or in any applicable open-source license, all rights in and to our Services are reserved by us or our licensors.

Subject to your compliance with these Terms, you are hereby granted a limited, nonexclusive, nontransferable, non-sublicensable, revocable license to access and use our Services for your own internal, personal or business trading and research purposes, and not to resell, sublicense, provide service-bureau access to, or build a competing product from the Services. This license does not include any rights not specifically enumerated herein. Any use of our Services other than as specifically authorized in these Terms, without our prior written permission, is strictly prohibited, will terminate this license and may violate our intellectual property rights.

Certain software components of the Services may be made available under separate open-source licenses. To the extent an open-source license applies, your use of those components will be governed solely by the terms of the applicable open-source license, and nothing in these Terms limits your rights under that license.

8. Intellectual Property Rights

Unless otherwise noted, all content provided in the Services, including images, illustrations, designs, icons, photographs, video clips, text, and other material, is the property of us or our suppliers, licensors, talent, partners, or affiliates and is protected by United States and international copyright laws. Any and all content of the Services is either the property of us or is used by us with the permission of its owner. The compilation of the Services is the exclusive property of us and is protected by United States and international copyright laws. You agree that you will not take any actions inconsistent with our ownership of the Services and content.

The trademarks, logos, and service marks displayed in the Services are owned by us and other third parties, and the Services’ trade dress is owned by us. All trademarks not owned by us are the property of their respective owners, and, where used by us, are used with permission. Nothing contained in the Services may be construed as granting, by implication, estoppel, or otherwise, any right or license to use any trademark. Our trademarks and/or trade dress may not be copied, imitated, or used, in whole or in part (including use in metatags or in hidden text), without our prior written permission. You agree that you will not take any actions inconsistent with our ownership of, or any third party’s ownership of, the trademarks and trade dress used in the Services.

Some products, processes, software, models, interfaces, systems, outputs, or methods offered in the Services may be covered by, or may be subject to, one or more patents and are subject to other trade secret and proprietary rights. Any and all such products, processes, software, models, interfaces, systems, outputs, or methods are either the property of us or our licensors or are used by us with permission. You agree not to infringe upon such rights or decompile, reverse engineer, or disassemble any such products, processes, software, models, interfaces, systems, outputs, or methods. You further agree that you will not file patent applications based on the Services or any products, processes, software, models, interfaces, systems, outputs, or methods made available through the Services, and that any such patents will not be asserted against us or our users based on access to or use of the Services.

Except as we may expressly authorize, you agree not to sell, license, rent, modify, distribute, copy, reproduce, transmit, publicly display, publicly perform, publish, adapt, edit, or create derivative works from the materials in the Services, including any copyrighted, patented, or trademarked content. You may only use the materials and content in the Services as expressly permitted in these Terms and for no other purpose. Any unauthorized use of any content or materials in the Services is strictly prohibited and may violate copyright, patent, and trademark laws, and/or the laws of privacy, publicity, and/or communications regulations and statutes.

9. Submission of User Inputs and Third-Party Content

From time to time, we may make available in the Services features that allow users to submit, connect, upload, designate, or transmit User Inputs or other content, including prompts, theses, files, code, strategy parameters, social-media content, third-party research, newsletters, podcasts, messages, brokerage information, wallet information, and other data (collectively with User Inputs, “Content”). You, and not we, are solely responsible for all Content that you upload, post, connect, designate, transmit, or otherwise make available through the Services.

You represent and warrant that you own or otherwise control all rights, titles, and interests in and to any Content that you upload, transmit, connect, designate, or otherwise make available through the Services, that use of any Content you provide or designate does not violate the intellectual property, privacy, publicity, contractual, confidentiality, data, source-terms, or other rights of any third party, and that use of Content you provide or designate will not cause injury to any person or entity.

Without limiting the foregoing, you represent and warrant that you will not: (a) provide any Content that is unlawful or that advocates illegal activity; (b) provide any Content that is defamatory, false, misleading, libelous, unlawful, harmful, threatening, harassing, discriminatory, abusive, profane, pornographic, obscene, or otherwise objectionable; (c) provide any Content that you do not have a right to provide under law or under a contractual, fiduciary, source-terms, confidentiality, or other obligation; (d) provide any Content that violates the intellectual property, privacy, publicity, data, contractual, or other rights of any third party; (e) provide any Content that contains software viruses or other harmful devices; or (f) impersonate any other person or entity or forge headers or otherwise manipulate identifiers in order to disguise the origin of any Content you provide.

When you post, submit, connect, designate, or otherwise make User Inputs or other content available in the Services, you grant us a worldwide, royalty-free, non-exclusive, transferable, sublicensable license to host, reproduce, process, analyze, transform, transmit, display, and otherwise use such User Inputs and content as necessary to provide, operate, secure, support, and improve the Services, subject to our Privacy Policy, applicable law, and any additional settings or written terms that apply to your account. We request that you not provide us content in which you do not wish to grant us these rights.

We disclaim any and all liability for any Content emailed, transmitted, posted, connected, designated, or otherwise made available via the Services. The opinions, theses, prompts, analyses, messages, research, or other Content in the Services may not represent our views or opinions. We do not represent or guarantee the truthfulness, accuracy, legality, reliability, or completeness of any Content. Any Content in the Services is provided “as is.” You understand that by using the Services, you may be exposed to Content and non-user content that is inaccurate, offensive, indecent, objectionable, infringing, or unsuitable. Under no circumstances will we be liable in any way for any Content, including any errors or omissions in any Content, or for any loss or damage of any kind incurred as a result of the use of any Content made available via the Services. You should be aware that your use of and reliance on Content is at your own risk.

We have no obligation to review, monitor, delete, or edit Content. However, you acknowledge and agree that we have the right to do so at any time in our sole discretion, for any reason or no reason, with or without notice. We shall not be liable for any alteration or deletion of any Content. You acknowledge, consent, and agree that we may access, preserve, and disclose any inappropriate conduct, your account information, and any Content you submit, connect, designate, or otherwise make available if required to do so by law or in a good faith belief that such access, preservation, or disclosure is reasonably necessary to: (a) comply with legal process; (b) enforce these Terms; (c) respond to claims that any Content violates the rights of third parties; (d) respond to your requests for customer service; or (e) protect the rights, property, or personal safety of us, our affiliates, personnel, other users, and the public.

10. Subscription, Payment, Trading and Protocol Fees

The Services may include free, preview, paid subscription, usage-based, transaction-fee, protocol-fee, and other paid features. Unless otherwise stated at checkout or in an order flow, subscription fees are billed in advance on a recurring basis, taxes may be calculated based on billing information you provide, and you authorize Button Labs and its payment processors to charge your selected payment method for applicable fees, taxes, and charges until you cancel. Paid plans may include AI usage allowances, automation limits, access to backtesting and artifacts, connected-account features, and different trading-fee treatment for Hyperliquid or other venues. Third-party processors, including Stripe and supported payment-method providers, may process payment information under their own terms and privacy policies. All on-chain, venue, network, gas, market-data, protocol, liquidation, funding, slippage, spread, and third-party charges are your responsibility and are generally final and non-refundable unless we expressly state otherwise.

If a paid subscription automatically renews, the checkout flow or applicable order terms will describe the price, renewal interval, cancellation method, and other material terms. You may cancel as described in the Services or in the applicable checkout flow, and cancellation will take effect at the end of the then-current billing period unless otherwise stated. We may change prices, plan features, usage limits, or fees on notice to you, subject to applicable law.

11. Support

We are under no obligation to provide support for the Services. Instances where we may offer support, the support will be subject to published policies. Support is conducted through email at legal@button.xyz.

12. Third-Party Services

We may make available, or we may allow third parties to make available, access to information, products, services, venues, accounts, wallets, protocols, payment services, market data, social-media services, and other materials made available by third parties on or through our Services (collectively, “Third-Party Services”). Third-Party Services may include Hyperliquid, Brokerage Connect, SnapTrade or similar account-linking providers, Databento market-data feeds, X, Discord, Telegram, Stripe and payment-method providers, wallets, blockchains, and other execution venues, data providers, protocols, exchanges, and service providers. Third-Party Services are not controlled by Button, and your use of them is governed by their own terms and privacy policies, which you are responsible for reviewing and accepting. Button is not responsible or liable for any Third-Party Service, including its availability, accuracy, security, solvency, execution quality, liquidity, funding rates, liquidations, settlement, payment processing, account linking, data rights, or on-chain operation.

When you connect a brokerage, bank, wallet, social-media, payment, market-data, or other third-party account, you authorize Button and its service providers to access and process the data or instructions made available through that connection solely as permitted by these Terms, the Privacy Policy, your account settings, and the applicable Third-Party Service. Brokerage-account connections may be read-only, and Button does not receive or store brokerage or bank credentials where those credentials are handled by a third-party account-linking provider.

Any orders, strategies, or transactions you choose to deploy execute through venues, wallets, protocols, accounts, or payment systems you control or authorize. Button does not take custody of your assets, hold your funds, guarantee execution, guarantee settlement, or have the ability to reverse, cancel, or recall a transaction once submitted to a third-party venue, payment provider, or blockchain.

13. Indemnification

To the fullest extent permitted by applicable law, you will indemnify, defend and hold harmless us and our subsidiaries and affiliates, and each of our respective officers, directors, agents, partners and employees (individually and collectively, the “Button Parties”) from and against any losses, liabilities, claims, demands, damages, expenses or costs (“Claims”) arising out of or related to (a) your access to or use of our Services; (b) your User Inputs, Content, designated knowledge sources, connected accounts, wallets, payment methods, or other materials; (c) your trading, investment, automation, deployment, routing, or other decisions; (d) your violation of these Terms; (e) your violation, misappropriation or infringement of any rights of another, including intellectual property rights, privacy rights, publicity rights, or source terms of use; (f) your violation of any law, regulation, sanctions regime, exchange rule, market rule, or Third-Party Service terms; or (g) your use of any Third-Party Service. You agree to cooperate with Button Parties in defending such Claims and pay all fees, costs and expenses associated with defending such Claims, including attorneys’ fees. You also agree that the Button Parties will have control of the defense or settlement, at our sole option, of any third-party Claims. This indemnity is in addition to, and not in lieu of, any other indemnities set forth in a written agreement between you and us or the other Button Parties.

14. Disclaimers and Risk Factors

Your use of our Services is at your sole risk. Except as otherwise provided in a writing by us, our Services, Outputs, strategies, signals, code, backtests, analyses, automations, market data, third-party data, and any content therein are provided “as is” and “as available” without warranties of any kind, either express or implied, including implied warranties of merchantability, fitness for a particular purpose, title, non-infringement, accuracy, timeliness, profitability, compliance, and suitability. We do not warrant that the Services will be uninterrupted, secure, error-free, profitable, compliant, or that any Output, data, strategy, signal, code, backtest, analysis, automation, or routing function will be accurate, complete, timely, executable, or suitable for any purpose. Button is not responsible for trading losses, missed opportunities, tax consequences, regulatory consequences, market losses, data losses, or any act or omission of any Third-Party Service, venue, wallet, protocol, account, payment provider, market, or data source.

Trading, Investment and Technology Risk

You acknowledge that trading and investing are extremely risky. Trading in perpetual futures, other derivatives, digital assets, equities, options, commodities, foreign exchange, leveraged instruments, and other financial instruments may involve a high degree of risk and may not be suitable for you. You can lose some, all, or, with leverage, more than the amount you commit. Markets, venues, protocols, stablecoins, wallets, data providers, and networks carry independent risks, including volatility, illiquidity, slippage, funding-rate changes, gaps, de-pegging, smart-contract failure, oracle failure, network congestion, forks, exploits, venue insolvency, execution failure, payment failure, and total loss. You are solely responsible for determining whether any strategy, Output, automation, trade, transaction, or investment is appropriate for you and for consulting your own licensed professional advisers before acting.

Backtests and Hypothetical Performance

Backtests, simulations, signals, strategy outputs, and other performance figures shown in or generated by the Services are hypothetical and provided for illustration only. Hypothetical or simulated performance results have inherent limitations. Unlike an actual performance record, simulated results do not represent actual trading and may not reflect the impact of material market factors, including liquidity, slippage, funding, fees, latency, order-book depth, partial fills, market impact, taxes, and execution availability. Because trades may not have actually been executed, results may under- or over-compensate for the impact of certain market factors. Simulated programs generally are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown, and past performance is not indicative of future results.

AI, Market Data, Automation and Execution Risk

The Services may rely on automated systems, artificial intelligence, large language models, third-party data, market-data feeds, order books, exchange APIs, blockchain networks, wallets, and other technical systems. Outputs may hallucinate, omit information, misinterpret User Inputs, contain code errors, rely on stale or inaccurate data, reflect model or prompt limitations, or fail in live market conditions. Automations and routed orders may fail, be delayed, be rejected, execute at unexpected prices, incur fees, or behave differently from a backtest. We are not responsible for errors, delays, interruptions, manipulation, outages, restrictions, failures, or inaccuracies in any data feed, model, venue, protocol, wallet, network, exchange API, payment processor, or Third-Party Service, and you assume all risk of loss arising therefrom.

Beta Services

We may provide you with the option to participate in early access programs to use alpha, beta, preview, waitlist, experimental, or pre-release services, products, features, models, integrations, automations, data sources, and documentation (“Beta Services”). Notwithstanding anything to the contrary contained in these Terms, Beta Services are not generally available and may contain bugs, errors, defects, outages, inaccuracies, eligibility restrictions, or incomplete functionality. We may discontinue Beta Services at any time in our sole discretion and may never make them generally available.

15. Limitation of Liability

TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, WE AND THE OTHER BUTTON PARTIES WILL NOT BE LIABLE TO YOU UNDER ANY THEORY OF LIABILITY, WHETHER BASED IN CONTRACT, TORT, NEGLIGENCE, STRICT LIABILITY, WARRANTY, OR OTHERWISE, FOR ANY INDIRECT, CONSEQUENTIAL, EXEMPLARY, INCIDENTAL, PUNITIVE OR SPECIAL DAMAGES OR LOST PROFITS, EVEN IF WE OR THE OTHER BUTTON PARTIES HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

THE TOTAL LIABILITY OF US AND THE OTHER BUTTON PARTIES FOR ANY CLAIM ARISING OUT OF OR RELATING TO THESE TERMS OR OUR SERVICES, REGARDLESS OF THE FORM OF THE ACTION, IS LIMITED TO THE LESSER OF (A) THE AMOUNT PAID BY YOU TO BUTTON FOR THE SERVICES WITHIN THE THREE (3) MONTHS PRECEDING THE EVENT GIVING RISE TO THE CLAIM OR (B) ONE HUNDRED U.S. DOLLARS (US$100).

THE LIMITATIONS SET FORTH IN THIS SECTION 15 WILL NOT LIMIT OR EXCLUDE LIABILITY FOR THE GROSS NEGLIGENCE, FRAUD OR INTENTIONAL MISCONDUCT OF US OR THE OTHER BUTTON PARTIES OR FOR ANY OTHER MATTERS IN WHICH LIABILITY CANNOT BE EXCLUDED OR LIMITED UNDER APPLICABLE LAW. ADDITIONALLY, SOME JURISDICTIONS DO NOT ALLOW THE EXCLUSION OR LIMITATION OF INCIDENTAL OR CONSEQUENTIAL DAMAGES, SO THE ABOVE LIMITATIONS OR EXCLUSIONS MAY NOT APPLY TO YOU.

16. Releases

User Inputs, Outputs and Third-Party Content Release

Except where prohibited by applicable law, by submitting, connecting, designating, or otherwise making User Inputs, third-party content, account information, wallet information, social-media content, market data, or other materials available to the Services, you release and discharge us and our agents, employees and assigns, and anyone acting under their authorization, from claims arising out of our use of those materials as authorized by these Terms, including claims based on rights of publicity, privacy, intellectual property, moral rights, data rights, or source terms, subject to our Privacy Policy and applicable law. You understand that you will not be entitled to additional compensation for the permissions, licenses, or releases granted in these Terms.

General Release

To the fullest extent permitted by applicable law, you release us and the other Button Parties from responsibility, liability, claims, demands and/or damages (actual and consequential) of every kind and nature, known and unknown (including, but not limited to, claims of negligence), arising out of or related to disputes between users and the acts or omissions of third parties. If you are a consumer who resides in California, you hereby waive your rights under California Civil Code § 1542, which provides: “A general release does not extend to claims that the creditor or releasing party does not know or suspect to exist in his or her favor at the time of executing the release and that, if known by him or her, would have materially affected his or her settlement with the debtor or released party.”

17. Dispute Resolution; Binding Arbitration

Please read the following section carefully because it requires you to arbitrate certain disputes and claims with us and limits the manner in which you can seek relief from us, unless you opt out of arbitration by following the instructions set forth below. No class or representative actions or arbitrations are allowed under this arbitration agreement. In addition, arbitration precludes you from suing in court or having a jury trial.

No Representative Actions

You and Button agree that any dispute arising out of or related to these Terms or our Services is personal to you and Button and that any dispute will be resolved solely through individual action, and will not be brought as a class arbitration, class action or any other type of representative proceeding.

Arbitration of Disputes

Except for small claims disputes in which you or Button seeks to bring an individual action in small claims court located in the county of your billing address or disputes in which you or Button seeks injunctive or other equitable relief for the alleged unlawful use of intellectual property, you and Button waive your rights to a jury trial and to have any dispute arising out of or related to these Terms or our Services resolved in court. Instead, for any dispute or claim that you have against us or relating in any way to our Services, you agree to first contact us and attempt to resolve the claim informally by sending a written notice of your claim (“Notice”) to us by email at legal@button.xyz or by certified mail addressed to 50 Woodside Plaza, Redwood City, CA 94061. The Notice must (a) include your name, residence address, email address, telephone number, and the email address associated with your Button account; (b) describe the nature and basis of the claim; and (c) set forth the specific relief sought. Our notice to you will be similar in form to that described above. If you and Button cannot reach an agreement to resolve the claim within thirty (30) days after such Notice is received, then either party may submit the dispute to binding arbitration administered by JAMS or, under the limited circumstances set forth above, in court. All disputes submitted to JAMS will be resolved through confidential, binding arbitration before one arbitrator. Arbitration proceedings will be held in San Francisco County, California or may be conducted telephonically or via video conference, in accordance with the JAMS Streamlined Arbitration Rules and Procedures (“JAMS Rules”). The most recent version of the JAMS Rules is available on the JAMS website and is hereby incorporated by reference. You either acknowledge and agree that you have read and understand the JAMS Rules or waive your opportunity to read the JAMS Rules and waive any claim that the JAMS Rules are unfair or should not apply for any reason.

You and Button agree that these Terms affect interstate commerce and that the enforceability of this Section 17 will be substantively and procedurally governed by the Federal Arbitration Act, 9 U.S.C. § 1, et seq. (the “FAA”), to the maximum extent permitted by applicable law. As limited by the FAA, these Terms and the JAMS Rules, the arbitrator will have exclusive authority to make all procedural and substantive decisions regarding any dispute and to grant any remedy that would otherwise be available in court, including the power to determine the question of arbitrability. The arbitrator may conduct only an individual arbitration and may not consolidate more than one individual’s claims, preside over any type of class or representative proceeding or preside over any proceeding involving more than one individual.

The arbitrator, Button, and you will maintain the confidentiality of any arbitration proceedings, judgments and awards, including, but not limited to, all information gathered, prepared and presented for purposes of the arbitration or related to the dispute(s) therein. The arbitrator will have the authority to make appropriate rulings to safeguard confidentiality, unless the law provides to the contrary. The duty of confidentiality does not apply to the extent that disclosure is necessary to prepare for or conduct the arbitration hearing on the merits, in connection with a court application for a preliminary remedy or in connection with a judicial challenge to an arbitration award or its enforcement, or to the extent that disclosure is otherwise required by law or judicial decision.

You and Button agree that for any arbitration you initiate, you will pay the filing fee and we will pay the remaining JAMS fees and costs, except as otherwise permitted by applicable law or JAMS rules for frivolous or bad-faith claims. For any arbitration initiated by Button, we will pay all JAMS fees and costs. You and Button agree that the state or federal courts of the State of Delaware and the United States, respectively, sitting in Wilmington, Delaware have exclusive jurisdiction over any appeals and the enforcement of an arbitration award.

Any claim arising out of or related to these Terms or our Services must be filed within one year after such claim arose; otherwise, the claim is permanently barred, which means that you and Button will not have the right to assert the claim.

You have the right to opt out of binding arbitration within 30 days of the date you first accepted the terms of this Section 17 by sending an email to legal@button.xyz. In order to be effective, the opt-out notice must include your full name and address and clearly indicate your intent to opt out of binding arbitration. By opting out of binding arbitration, you are agreeing to resolve disputes in accordance with Section 18.

If any portion of this Section 17 is found to be unenforceable or unlawful for any reason, (i) the unenforceable or unlawful provision will be severed from these Terms; (ii) severance of the unenforceable or unlawful provision will have no impact whatsoever on the remainder of this Section 17 or the parties’ ability to compel arbitration of any remaining claims on an individual basis pursuant to this Section 17; and (iii) to the extent that any claims must therefore proceed on a class, collective, consolidated, or representative basis, such claims must be litigated in a civil court of competent jurisdiction and not in arbitration, and the parties agree that litigation of those claims will be stayed pending the outcome of any individual claims in arbitration. Further, if any part of this Section 17 is found to prohibit an individual claim seeking public injunctive relief, that provision will have no effect to the extent such relief is allowed to be sought out of arbitration, and the remainder of this Section 17 will be enforceable.

You acknowledge that Button cannot reverse, cancel, recall, or guarantee any transaction, order, payment, transfer, or on-chain transaction submitted to or through any Third-Party Service, venue, wallet, payment provider, protocol, or blockchain, and arbitration applies only to disputes between you and Button.

18. Governing Law and Venue

Any dispute arising from these Terms and your use of our Services will be governed by and construed and enforced in accordance with the laws of the State of California, except to the extent preempted by U.S. federal law, without regard to conflict of law rules or principles (whether of the State of California or any other jurisdiction) that would cause the application of the laws of any other jurisdiction. Any dispute between the parties that is not subject to arbitration or cannot be heard in small claims court will be resolved in the state or federal courts of the State of California and the United States, respectively, sitting in San Francisco County, California.

19. Modifying and Terminating our Services

We reserve the right to modify our Services or to suspend or stop providing all or portions of our Services at any time. You also have the right to stop using our Services at any time. We are not responsible for any loss or harm related to your inability to access or use our Services.

You acknowledge that the Services may include hosted interfaces, automated systems, third-party integrations, wallets, execution venues, protocols, payment providers, and public blockchains. Our ability to suspend, modify, or terminate Services may be limited to interfaces, accounts, subscriptions, automations, models, APIs, hosted components, and other systems we control, and does not extend to reversing, disabling, or modifying transactions, orders, payments, positions, data, or services controlled by Third-Party Services or public blockchains.

20. Severability

If any provision or part of a provision of these Terms is unlawful, void or unenforceable, that provision or part of the provision is deemed severable from these Terms and does not affect the validity and enforceability of any remaining provisions.

21. Miscellaneous

These Terms constitute the entire agreement between you and us relating to your access to and use of our Services. Notwithstanding any other provisions of these Terms, Sections 1, 5, 6, 7, 8 (except for the license and rights granted), 9, 10 (for amounts due prior to the expiration or termination of these Terms), 11, 12, 13, 14, 15, 16, 17, 18, 19, 20 and this 21 survive any expiration or termination of these Terms. Our failure to exercise or enforce any right or provision of these Terms will not operate as a waiver of such right or provision. The section titles in these Terms are for convenience only and have no legal or contractual effect. Except as otherwise provided herein, these Terms are intended solely for the benefit of the parties and are not intended to confer third-party beneficiary rights upon any other person or entity. You agree that communications and transactions between us may be conducted electronically. These Terms may not be transferred, assigned or delegated by you, by operation of law or otherwise, without our prior written consent, and any attempted transfer, assignment or delegation without such consent will be void and without effect. We may freely transfer, assign or delegate these Terms or our Services, in whole or in part, without your prior written consent.