Terms of service

Last updated: 25 September 2026

These terms of service are a binding agreement between you and Mosaiq. They govern your use of the Mosaiq website, documentation, app and API. Read sections 4 and 8 to 16 before you fund an Account. They explain how you can lose money, including more than you deposit. Sections 22 to 25 limit Mosaiq's liability and set how disputes are resolved.

If you do not agree to these terms, do not use the Services.

1. About Mosaiq and these terms

The Services are provided by 0D Labs, a company incorporated in the Cayman Islands. In these terms, "Mosaiq", "we" and "us" mean that company.
"You" means the person or entity that accepts these terms. If you accept them for an entity, you confirm that you have authority to bind it, and "you" means that entity.
You accept these terms when you first use the Services, and again each time you use them.
The privacy policy at https://mosaiq.broker/privacy explains how Mosaiq handles personal data.
The Documentation describes in detail how orders, margin, liquidation, fees, deposits and withdrawals work. It forms part of these terms. If the Documentation and these terms conflict, these terms prevail.

2. Definitions

In these terms:

"Account" means the single trading account Mosaiq keeps for your Wallet. It records your Collateral, positions, open orders, Fills, fees and funding.
"API" means Mosaiq's programmatic interfaces, including the REST and WebSocket endpoints at https://production.mosaiq.0d.finance and any other endpoint Mosaiq publishes for the Services.
"API Key" means a secret key that authenticates trading requests sent through the API.
"App" means the web application at https://app.mosaiq.broker/.
"Collateral" means the USDC credited to your Account. It backs every position and open order in your Account.
"Documentation" means the documentation at https://docs.mosaiq.broker/, as updated from time to time.
"Fill" means a confirmed execution of all or part of an order at a Venue.
"Halt" means a platform-wide suspension of trading under section 12.
"Prohibited Person" has the meaning given in section 5.2.
"Services" means the Website, the Documentation, the App, the API, your Account, and every function Mosaiq provides through them.
"USDC" means the USD Coin stablecoin on the Arbitrum One network, at the token contract Mosaiq designates.
"Venue" means a third-party trading venue on which Mosaiq places orders. The Venues today are Hyperliquid, markets that third parties deploy on Hyperliquid under its HIP-3 mechanism, and Lighter, including the Lighter markets that Mosaiq lists under the name Lighter Robinhood. Mosaiq may add or remove Venues.
"Wallet" means the self-custodied EVM wallet address that Mosaiq has approved for your Account.
"Website" means https://mosaiq.broker/ and its pages.

3. What Mosaiq does and does not do

Mosaiq gives you one account to trade perpetual futures on several Venues.

Your Account has one USDC balance. That balance backs your positions and open orders on every supported Venue.
Every order you send names one Venue. Mosaiq validates the order, checks the risk of your Account, and forwards the order to that Venue. Mosaiq never sends your order to a different Venue.
Orders execute on the Venue, under the Venue's rules. Mosaiq has no order book. It does not match orders and does not take the other side of your trades.
Mosaiq places orders through Venue accounts that it opens and controls in its own name. These accounts are pooled. Each one carries orders and positions for many users. Mosaiq's own records attribute each order, Fill and position to the right Account.
You do not hold an account at any Venue through Mosaiq. You have no direct relationship with any Venue, and no direct claim against it, for orders placed through Mosaiq.

Mosaiq holds your Collateral, as section 8 describes. Mosaiq is not a bank, deposit-taker, trust company or licensed custodian. Mosaiq is not registered or licensed as a dealer, exchange, trading venue, clearing house, investment firm or investment adviser. No regulator has reviewed or approved the Services.

No deposit insurance, investor compensation scheme or similar public protection covers your Account or your Collateral.

4. Key risks in brief

This section summarizes the main risks. Sections 8 to 16 explain them in full.

You trade leveraged perpetual futures. Prices can move fast, and you can lose all your Collateral.
You can lose more than your Collateral. Mosaiq has no insurance fund. If your Account is negative after all your positions are closed, the deficit stays on your Account.
Mosaiq liquidates at the Account level. It values each position at the oracle or index price of its Venue. Liquidation trades fill at the Venue's executable price, which can be much worse. Liquidation trades pay fees and a penalty.
Mosaiq can halt trading on the whole platform. During a Halt, Mosaiq cancels all live orders and you cannot withdraw.
Margin on one Venue does not offset margin on another. A long position on one Venue and a short position on another each need their own margin.
Mosaiq holds your Collateral in blockchain addresses and Venue accounts that it controls, pooled with the Collateral of other users. If Mosaiq, a Venue or a blockchain fails or is attacked, you can lose some or all of your Collateral.
The Services are in private beta. They can fail, change or stop.

5. Eligibility and restricted persons

5.1 Who can use the Services

Anyone may read the Website and the Documentation. You may use the App, the API and an Account only if all of the following are true:

You are at least 18 years old and have reached the age of majority where you live.
You have full legal capacity to accept these terms.
Mosaiq has approved your Wallet.
You understand leveraged derivatives, perpetual futures, digital assets and self-custodied wallets well enough to judge the risks in these terms.
You are not a Prohibited Person.
Your use of the Services does not break any law that applies to you.

5.2 Prohibited Persons

You are a Prohibited Person if any of the following applies to you:

You are named on a sanctions or restricted-party list. These lists include the United Nations Security Council Consolidated List, the lists kept by the US Office of Foreign Assets Control including the Specially Designated Nationals and Blocked Persons List, the US Department of Commerce Denied Persons List and Entity List, the EU Consolidated List of persons, groups and entities subject to financial sanctions, the UK Consolidated List of Financial Sanctions Targets, and the sanctions lists that apply in the Cayman Islands.
You live in, are located in, are incorporated or organized in, or have a registered office or principal place of business in a Restricted Jurisdiction.
You are a citizen of a Sanctioned Jurisdiction, wherever you live.
You are owned or controlled, directly or indirectly, by a person described above, or you act on behalf of one.
Using the Services would be unlawful for you, or would require Mosaiq or a Venue to hold a license, registration or approval that it does not hold.

"Restricted Jurisdiction" means each of the following:

the United States of America, including its territories and possessions;
Canada;
the United Kingdom;
China;
Belarus, Cuba, Iran, Myanmar, North Korea, Russia, Sudan, Syria, Ukraine and Venezuela;
any other jurisdiction or region subject to comprehensive country-wide or regional economic sanctions;
any jurisdiction designated as supporting terrorism by the United Nations, the European Union, the United Kingdom or the United States;
any other jurisdiction that Mosaiq lists as restricted in the App or the Documentation.

"Sanctioned Jurisdiction" means a jurisdiction or region subject to economic sanctions or export controls imposed by the United Nations, the United States, the European Union or the United Kingdom.

5.3 How this list is set

Every order you place through Mosaiq executes on a Venue. Mosaiq's restrictions are therefore at least as strict as the restrictions of every Venue. If a Venue adds a restriction, Mosaiq may apply it at once, without notice. Mosaiq may also restrict particular Venues, markets or features in more jurisdictions than those listed above.

5.4 Your promises

Each time you use the Services, you confirm that you meet section 5.1.
You will not use a VPN, proxy, false information or any other method to hide your location or to get around these restrictions.
You will tell Mosaiq at once if you become a Prohibited Person.
You use the Services for yourself, with your own Wallet. You do not trade for, or give access to, anyone else unless Mosaiq agrees in writing.

5.5 Checks and consequences

Mosaiq may screen Wallet addresses, IP addresses and transactions, and may ask you for information or documents to confirm your eligibility.
Mosaiq may refuse, suspend or end your access if it reasonably believes you are a Prohibited Person or have broken this section.
If you are a Prohibited Person, Mosaiq may cancel your orders and close your positions. Mosaiq will return your remaining Collateral to your Wallet unless the law requires Mosaiq to freeze it, report it or hand it to an authority.

6. Private beta and access

The Services are in private beta. Access is by invitation only. Mosaiq approves access one Wallet at a time.
An invitation code approves one Wallet. Codes can expire or be disabled. You may not sell, share or transfer a code.
Sending an access request does not entitle you to access. Mosaiq decides who gets access, and may revoke a Wallet's access at any time. Section 20 explains what happens to your positions and Collateral when access ends.
Features, markets, Venues, limits and risk parameters change often during the beta, sometimes without notice. The Services may contain errors. Do not deposit more than you can afford to lose.
Mosaiq sets limits on each Account. These include account-tier caps on orders and positions, request rate limits, an automatic-credit limit for deposits and a rolling cap on withdrawals. Mosaiq may change any limit at any time.

7. Your Account, Wallet and sign-in

7.1 Your Account

Each approved Wallet has one Account. Your Wallet address identifies your Account.
Mosaiq creates your Account the first time you sign in with an approved Wallet.
You may hold only one Account, unless Mosaiq agrees otherwise in writing.

7.2 Signing in

You sign in to the App and manage API Keys through Para, a third-party authentication service, and your own wallet software. You sign a message with your Wallet to prove that you control it.
Para and your wallet provider have their own terms and privacy policies. Those terms govern your use of their services. Mosaiq does not control them and is not responsible for them.

7.3 Wallet security

Mosaiq never has your Wallet's private keys or recovery phrase. Mosaiq cannot recover a lost Wallet.
Anyone who controls your Wallet can sign in, create API Keys, trade, and request withdrawals to your Wallet. Mosaiq treats every instruction authenticated with your Wallet or your API Key as yours.
Withdrawals go only to your Wallet. If you lose access to your Wallet, you may not be able to withdraw. Mosaiq does not have to offer any process to recover an Account or change its Wallet.
Tell Mosaiq at once at hello@mosaiq.broker if you think someone else has used your Wallet or API Key.

7.4 Your Account data is public

Anyone who knows your Wallet address can read your balances, positions, open orders, Fills and funding through Mosaiq's public API endpoints. Your deposits and withdrawals are also visible on the Arbitrum One blockchain. Do not use a Wallet that you want to keep unlinked from your trading.

8. Collateral, deposits and withdrawals

8.1 Collateral

Mosaiq accepts USDC on the Arbitrum One network only.
Mosaiq does not pay interest on Collateral.

8.2 Deposits

You create a deposit request in the App or through the API. Mosaiq returns a receiving address and an expiry time, currently one hour.
You must send exactly the requested amount of USDC on Arbitrum One, from your Wallet, to that address, before the expiry time. The minimum deposit is 1 USDC.
Mosaiq credits your Account only after it observes a transfer whose sender is your Wallet and whose amount matches the request exactly, before the expiry time.
Mosaiq ignores transfers below 1 USDC and does not credit them.
Other transfers that do not match a request, and deposits above Mosaiq's automatic-credit limit, go to manual review. Mosaiq may take time to review them, ask you for information, or refuse to credit them.
If you send another token, use another network, or send from another address, you may lose the funds permanently. If you contact Mosaiq, it will make reasonable efforts to return a transfer it did not credit to the address that sent it, less network fees, where it can identify the transfer and the law allows it.
You pay the network fees for your deposit transfers.

8.3 How Mosaiq holds Collateral

Mosaiq receives deposits at blockchain addresses that it controls.
Mosaiq moves USDC between those addresses and its pooled Venue accounts to support orders and liquidations as margin needs change. This is called rebalancing. Rebalancing does not debit your balance, withdraw your funds, or change your positions or Fills. Mosaiq pays the transfer costs.
Rebalancing does not guarantee capacity. An order can be rejected or delayed when the selected Venue needs more collateral. Rebalancing does not prevent liquidation.
Your Collateral is pooled with the Collateral of other users. Your Account balance is an entry in Mosaiq's records. It is not a claim to specific tokens at a specific address.
Mosaiq uses Collateral only to support orders and positions at Venues, to settle Fills, fees, funding and liquidation costs, and to pay withdrawals.
Your Account balance is a contractual claim against Mosaiq for the amount recorded in your Account. Unless the law requires otherwise, Mosaiq does not hold Collateral on trust for you. If Mosaiq becomes insolvent, you may rank as an unsecured creditor.

8.4 Withdrawals

Withdrawals are paid in USDC on Arbitrum One, only to your Wallet.
You request a withdrawal in the App, or through the API with a signed-in Wallet session. An API Key cannot request a withdrawal.
A withdrawal request is tracked and processed. It is not an instant payment. Mosaiq aims to process withdrawals promptly but does not guarantee a processing time.
You may withdraw up to the lower of your cash balance and your available funds. Only one withdrawal request can be pending at a time.
A rolling cap limits how much you can withdraw. The default is 10,000 USDC per hour, counting pending and completed requests. Mosaiq may change this cap.
Withdrawals fail during a Halt and while Mosaiq's risk engine cannot value your Account.
Mosaiq may delay a withdrawal for manual review, for rebalancing between Venues, because of Venue withdrawal limits or network congestion, or because the law requires it.
Mosaiq does not charge a withdrawal fee today. Mosaiq may pass on network fees, and will publish any withdrawal fee in the App or the Documentation before it applies.

8.5 Errors

If Mosaiq credits your Account by mistake, or records a balance, Fill, fee or funding amount in error, Mosaiq may correct your Account. You must return any amount you received that you were not entitled to. Mosaiq will make a correction as soon as reasonably practicable after it finds the error, and will tell you about any correction that changes your balance.

9. How orders execute

9.1 You choose the Venue

Each order names one Venue by the venue code in Mosaiq's market catalog. Mosaiq does not choose the Venue for you and never reroutes an order. If the Venue rejects the order or cannot be reached, the order fails. Mosaiq does not undertake to get you the best available price across Venues.

9.2 Checks before forwarding

Before Mosaiq forwards an order, it checks the order format, the market's trading status, your account-tier limits, your available funds and the Venue's constraints. Mosaiq then fits the order to the Venue:

Size rounds down to the Venue's size increment.
A buy limit price rounds down and a sell limit price rounds up, so the price never becomes more aggressive.
An order that rounds to zero, or falls below the Venue's minimum size or value, is rejected.

9.3 Order types

Limit orders are either immediate-or-cancel or post-only. Mosaiq does not accept good-till-cancelled limit orders.
A market order is an immediate-or-cancel order with a maximum slippage that you set, up to 50%. Mosaiq sets the order's limit price at the Venue's mid price moved by that slippage. Mosaiq reserves margin at its own oracle price moved by the same amount. A market order can fill at any price up to that limit, or not fill at all.
A reduce-only order can only reduce an existing position on the same Venue.

9.4 Acceptance is not execution

An "accepted" response means the Venue acknowledged the order. It does not mean the order filled. Your positions and cash change only when Fills are confirmed and settled into your Account. An open order reserves initial margin until it fills, is cancelled or otherwise ends.

9.5 Uncertain outcomes

Separate requests can complete out of order.
If Mosaiq cannot confirm whether it accepted an action, the action may still execute later.
If a Mosaiq server fails before it records an action, the action may be lost. This includes cancellations.
Before you retry a request that had no clear result, check its status as the Documentation describes. Mosaiq is not responsible for duplicate orders caused by your retries.

9.6 Venue rules

Each Venue's own rules on matching, price bands, tick size, minimum size and self-trading can reject, cancel, expire or change an order. These rules can apply because Mosaiq places orders for many users through the same Venue account.

9.7 When Mosaiq may reject or cancel an order

Mosaiq may reject or cancel an order when:

it exceeds your account-tier limits or your available funds;
Mosaiq cannot price margin for the market;
the Venue is offline or recovering, or the Venue account is suspended while Mosaiq checks its order state;
the Venue needs more collateral;
Mosaiq's capacity to send orders to the Venue is full;
a Halt is in force;
you exceed a rate limit; or
the law, a Venue or these terms require it.

9.8 Cancel on disconnect

You can ask Mosaiq to cancel your open orders when your API connections drop. This feature is optional and works on a best-effort basis. Mosaiq does not guarantee that it will cancel every order.

9.9 Funding

Each position pays or receives the funding of the Venue that holds it. Mosaiq books funding to your Account in USDC. Funding for an earlier period can appear in your Account later.

9.10 Market data

Prices, order books and other data in the Services come from Venues and other sources. They may be delayed, incomplete or wrong. The combined order book on the Website shows depth only. It is not a price source for margin or liquidation.

10. Margin

Your Account uses cross margin. One USDC balance backs every position and open order across all Venues.
Mosaiq adds up margin separately for each position on each Venue. A position on one Venue does not offset a position on another Venue, even in the same asset and in the opposite direction.
Your account value is your cash plus unrealized profit and loss.
Initial margin covers your positions and your open orders that are not reduce-only, at the initial margin rate.
Maintenance margin covers your positions only, at the maintenance margin rate.
Available funds are your account value minus initial margin. Mosaiq admits new orders and withdrawals against available funds.
The initial margin rate for a market starts at one divided by the market's maximum leverage. It rises, up to 100%, as Mosaiq's total gross open interest in that asset across all users and Venues rises. Mosaiq does not publish the thresholds for these increases.
The maintenance margin rate is one divided by twice the market's maximum leverage.
There is no leverage setting for each position. Your leverage is the result of your positions and your account value.
Mosaiq values each position at the oracle or index price of the Venue that holds it. If a price is not available, Mosaiq may reject orders in that market.
Mosaiq may change margin rates, maximum leverage, open interest thresholds and Account limits at any time, including for positions you already hold. A change can make your Account liquidatable. Mosaiq will try to give notice before it tightens margin parameters, but it may act without notice when market conditions or risk require it.
You are responsible for monitoring your Account. Mosaiq does not have to warn you or ask you for more Collateral before it liquidates.

11. Liquidation

11.1 When liquidation starts

Your Account becomes liquidatable when it has positive maintenance margin and your account value falls below your maintenance margin. Open orders do not count toward maintenance margin.

11.2 What Mosaiq does

For each liquidatable Account, Mosaiq:

selects the position with the largest maintenance margin;
sizes a reduction intended to bring the Account back above maintenance margin with a buffer, capped at 50% of that position's notional value;
cancels all open orders in the Account and waits until they are resolved;
sends a reduce-only market order for that position on the position's Venue;
checks the Account again after the Fill.

Liquidation can take several reductions. Mosaiq sends one reduction at a time for each Account. Mosaiq does not need your consent and does not need to notify you.

11.3 Execution price

Liquidation checks value each position at the oracle or index price of the Venue that holds it. The liquidation order fills at the Venue's executable price, which can differ from that price. In a fast or thin market, the difference can be large. You bear it.

11.4 Costs

Each liquidation order is a taker trade. It pays the Venue fee, the Mosaiq taker fee, and a liquidation penalty. The penalty is proportional to the maintenance margin of the size reduced. Mosaiq fixes the penalty rate when it sizes the reduction and charges the penalty when the Fill settles. Mosaiq sets the penalty rate for each market and may change it. The penalty is paid to Mosaiq.

11.5 No insurance fund and negative balances

Mosaiq has no insurance fund. If your account value is still negative after all your positions are closed, the deficit stays on your Account. Mosaiq does not charge it to other users. The deficit is a debt you owe to Mosaiq. Mosaiq may set it off against any later deposit or any other amount it owes you.

11.6 Failed liquidations

A liquidation can fail or be delayed, for example when a Venue is down, rejects the order, lacks liquidity or needs more collateral, or when a price is not available. Repeated liquidation failures can lead Mosaiq to declare a Halt under section 12.

11.7 Actions by a Venue

A Venue may liquidate, deleverage or close positions under its own rules. This includes positions held in Mosaiq's pooled Venue accounts. Such an action can affect your positions even when your Account is above maintenance margin. Mosaiq allocates the effects of such an action among the affected Accounts in a fair and reasonable way, in proportion to their positions in the affected market where practicable.

12. Halts and other interruptions

12.1 Platform-wide Halt

Mosaiq may halt trading across the whole platform, for example after repeated liquidation failures. During a Halt:

Mosaiq cancels all live user orders;
withdrawals fail;
Mosaiq rejects order modifications;
Mosaiq accepts only immediate reduce-only orders; and
you can still cancel orders.

Your positions stay open during a Halt. Prices keep moving, funding keeps accruing, and liquidation can continue. Mosaiq ends a Halt when it judges that it is safe to do so. Mosaiq will announce a Halt through the App, the API or its X account when it is practicable to do so.

12.2 Narrower suspensions

Mosaiq may suspend trading on a Venue, a Venue account or a market. This can happen while a Venue is unreachable or recovering, while Mosaiq checks the order state of a Venue account, while Mosaiq cannot price margin, or during maintenance. During a suspension, orders may be rejected and withdrawals may fail.

12.3 No guarantee of availability or speed

Mosaiq does not guarantee that the Services, or any Venue, market or feature, will be available at any given time. Mosaiq does not guarantee any latency or speed of execution.

13. Fees, funding and other costs

Only Fills pay trading fees. The fee on a Fill is the Venue fee that Mosaiq charges you plus the Mosaiq fee. Both are computed on the Fill's notional value and on whether the Fill added or removed liquidity. Both settle with the Fill. An order that does not fill pays nothing.
Mosaiq trades through pooled Venue accounts. The Venue fee tier is the one Mosaiq's account earns, not one based on your own volume. Mosaiq decides how much of the Venue fee it charges you. The Documentation describes the current policy for each Venue.
Mosaiq publishes the fee rates in force for each Venue market through the API fee endpoint and on the Website. Published rates can lag behind changes to Venue fee tiers. The fee recorded on each Fill in your Account is the fee charged.
Liquidation orders also pay the liquidation penalty in section 11.4.
Funding payments flow to and from your Account under section 9.9.
You pay network fees for your deposits. Section 8.4 covers withdrawals.
Mosaiq may change the Mosaiq fee. A new rate applies to Fills after Mosaiq publishes it. Mosaiq will try to give at least 7 days' notice of an increase in the Mosaiq fee.
Venues set their own fees and can change them at any time. A Venue fee change can apply at once.
Mosaiq charges no other fees for the Services unless these terms or the Documentation say so.

14. Venues and other third parties

14.1 Venues are independent

Mosaiq does not operate, control or guarantee any Venue. Risks at a Venue include:

outages, halts, maintenance or delisting of markets;
changes to rules, fees, margin, oracle or funding methods;
oracle failures, price manipulation or errors;
bugs or exploits in the Venue's software or smart contracts;
failure of the blockchain or network the Venue runs on;
action by the Venue against Mosaiq's Venue accounts, including restriction, freezing or liquidation; and
legal or regulatory action against a Venue.

Mosaiq's Venue accounts are pooled. An event that affects one of those accounts can affect every user whose positions or Collateral are held in it. If such an event causes a loss that Mosaiq cannot recover, Mosaiq may allocate it among the affected Accounts in a fair and reasonable way that it decides.

14.2 HIP-3 markets

Third parties deploy and operate HIP-3 markets on Hyperliquid. Depending on Hyperliquid's rules, a deployer may set oracle prices, change market parameters, halt trading or settle a market. Mosaiq does not control deployers.

14.3 Venue terms

Each Venue has its own terms, including restrictions on who may use it. You must not use the Services to do anything that a Venue's terms would forbid you to do if you traded on that Venue directly.

14.4 Other third parties

The Services depend on other third parties, including Para for sign-in, your wallet provider, the Arbitrum One network and its RPC providers, the issuer of USDC, and hosting and infrastructure providers. If one of them fails, you may be unable to sign in, trade, deposit or withdraw.

15. Markets that reference traditional assets

Some markets are perpetual futures whose prices track shares, stock indices, commodities, currencies, or the value of private companies.

These markets are derivatives settled in USDC. You do not own the reference asset. You receive no dividends, voting rights or other claim on any issuer.
The reference asset may trade only during set hours. Outside those hours, the Venue's price may rely on other sources and can jump when the reference market reopens.
Prices depend on the Venue's oracle and can differ from the reference asset's price.
Corporate actions, listings, delistings or legal changes can lead a Venue to change, halt or settle these markets.
The laws of many countries restrict these products. Mosaiq may block them in more jurisdictions than those in section 5.
Mosaiq is not affiliated with the companies whose names or tickers appear in market names.

16. Blockchain and digital asset risks

Blockchain transfers cannot be reversed. A transfer to the wrong address or network cannot be recovered.
Arbitrum One, Ethereum, Hyperliquid and Lighter can suffer congestion, outages, reorganizations, forks or attacks. The Arbitrum One sequencer can stop.
The issuer of USDC can freeze tokens or addresses, including Mosaiq's. USDC can lose its peg to the US dollar. Mosaiq records balances in USDC and does not guarantee their value in any currency.
The USDC token contract and the Venues' smart contracts can contain bugs or be exploited.
Attackers can steal private keys, including yours and Mosaiq's.
Changes in law or regulation can restrict digital assets or the Services, or make them unavailable.

17. No advice

Mosaiq provides execution, account and risk infrastructure. Nothing Mosaiq publishes or says is investment, financial, legal, tax or accounting advice, or a recommendation to trade. Market data, fee comparisons and the Documentation are for information. You decide every trade and are responsible for it. Mosaiq owes you no fiduciary duty.

18. Taxes

You are responsible for working out, reporting and paying any taxes that apply to your use of the Services. Mosaiq does not withhold taxes for you. Mosaiq may collect information about you and your Account and report it to tax authorities where the law requires it.

19. Prohibited conduct

You must not:

use the Services while you are a Prohibited Person, or for or on behalf of a Prohibited Person;
hide your location or identity, or give false information;
manipulate markets, including spoofing, layering, wash trading, trading on inside information, or manipulating an oracle, mark or index price;
abuse Mosaiq's margin, liquidation or funding processes, including by trading on the gap between oracle or index prices and executable prices to harm Mosaiq or other users;
exploit a bug, error or pricing fault in the Services. Report it to Mosaiq instead;
attack, overload or probe the Services, get around rate limits, or reverse engineer the Services except where the law allows it;
use several Wallets or Accounts to get around limits or restrictions;
launder money, finance terrorism, evade sanctions or commit fraud;
sell, share or sublicense your access, API Keys or invitation codes, or run a service that gives others access through your Account without Mosaiq's written consent;
infringe anyone's intellectual property, or impersonate Mosaiq; or
break the rules of any Venue.

If you break this section, Mosaiq may act under section 20. Mosaiq may also reverse or adjust any transaction that results from exploiting an error.

20. Suspension, termination and closing your Account

20.1 Closing your Account

You may stop using the Services at any time. To close your Account, cancel your orders, close your positions, withdraw your Collateral and write to hello@mosaiq.broker.

20.2 Suspension and termination by Mosaiq

Mosaiq may restrict, suspend or end your access to all or part of the Services if:

you break these terms;
Mosaiq reasonably suspects that you are a Prohibited Person;
the law, a court or a regulator requires it;
your use creates a risk to Mosaiq, other users or a Venue;
a Venue requires it; or
Mosaiq ends the beta or stops providing the Services.

A restriction can include rejecting new orders, allowing only reduce-only orders, or holding withdrawals where the law requires it. Mosaiq will tell you when it acts, unless the law forbids it or it is not practical.

20.3 What happens to your positions and Collateral

When your access ends, Mosaiq may cancel your open orders and close your positions at the Venue's executable price. If Mosaiq ends your access for a reason other than your breach, a legal requirement or a risk to the Services, Mosaiq will first give you at least 14 days' notice to close your positions and withdraw. Mosaiq then returns your remaining Collateral, less any amount you owe, to your Wallet, unless the law requires Mosaiq to hold it. If Mosaiq cannot return a balance, for example because your Wallet is sanctioned or can no longer receive USDC, Mosaiq will hold it until it can lawfully return it, or deal with it as the law requires.

20.4 Survival

Sections 8.5, 11.5 and 17 to 27 continue to apply after your access ends.

21. Intellectual property

Mosaiq and its licensors own the Services, including the software, the Documentation, and the Mosaiq name and logo.
Mosaiq gives you a limited, revocable, non-exclusive, non-transferable license to use the Services, and to build software that uses the API, for trading on your own Account under these terms.
You may not copy, resell or redistribute the Services or data from them, or suggest that Mosaiq endorses you, without Mosaiq's written consent.
Market data from Venues belongs to the Venues or their licensors.
If you send Mosaiq feedback or suggestions, Mosaiq may use them freely, without paying you.
Open-source components in the Services are governed by their own licenses.

22. Disclaimers

To the extent the law allows, Mosaiq provides the Services "as is" and "as available", without any warranty, express or implied. Mosaiq does not warrant that the Services will be available, secure, accurate or free of errors, that data in the Services is correct or current, or that any Venue will execute an order. This section does not exclude any warranty that the law does not allow to be excluded.

23. Limitation of liability

To the extent the law allows:

Mosaiq is not liable for indirect, consequential, special or punitive loss, or for loss of profit, revenue, opportunity, data or goodwill.
Mosaiq is not liable for loss caused by market movements, by a liquidation or Halt carried out under these terms, by a Venue or any other third party, by a blockchain event, by the compromise of your Wallet or API Key, by your own software, or by events beyond Mosaiq's reasonable control.
Mosaiq's total liability for all claims arising in any 12-month period is limited to the greater of the Mosaiq fees you paid in that period and 100 US dollars.
The cap above does not limit Mosaiq's obligation to pay you the balance of your Account that is due to you under these terms.

Nothing in these terms limits liability for fraud, gross negligence or wilful misconduct, for death or personal injury caused by negligence, or for any other liability that the law does not allow to be limited.

24. Indemnity

You will indemnify Mosaiq, its affiliates, and their officers, employees and agents against any third-party claim, and any resulting loss, cost or expense including reasonable legal fees, that arises from:

your breach of these terms;
your breach of any law or of anyone else's rights;
any use of the Services through your Wallet or API Key; or
your software.

This indemnity does not apply to the extent the loss is caused by Mosaiq's breach of these terms, fraud, gross negligence or wilful misconduct.

25. Governing law and disputes

These terms, and any dispute about them or the Services, are governed by the laws of the Cayman Islands.
Before you start proceedings, write to hello@mosaiq.broker and describe the dispute. You and Mosaiq will try in good faith to resolve it within 60 days.
Any dispute that is not resolved in that time will be resolved by final and binding arbitration administered by the LCIA under the LCIA Arbitration Rules. The seat of arbitration is George Town, Cayman Islands. The tribunal has one arbitrator, and the language of the arbitration is English.
You and Mosaiq may bring claims against each other only individually, and not as a plaintiff or class member in any class, collective or representative proceeding.
If you are a consumer and the mandatory law of the country where you live gives you rights, or the right to sue in your local courts, these terms do not take those rights away.

26. Changes to the Services and these terms

Mosaiq may add, change or remove features, markets, Venues, limits and parameters at any time.
Mosaiq may change these terms. It will publish the new version on the Website and update the date at the top.
For a material change that reduces your rights, Mosaiq will give you at least 14 days' notice through the App, the Website, or by email if Mosaiq has your email address. Mosaiq may make a change with immediate effect when the law, a Venue, or a security or risk issue requires it.
If you keep using the Services after a change takes effect, you accept the new terms. If you do not accept them, stop using the Services and close your Account.

27. General

These terms, the Documentation and the privacy policy are the whole agreement between you and Mosaiq about the Services.
You may not transfer your rights or obligations under these terms. Mosaiq may transfer them to an affiliate or to a successor to its business.
If a court finds part of these terms invalid, the rest stays in force.
If Mosaiq does not enforce a right, it does not waive that right.
Mosaiq is not liable for delay or failure caused by events beyond its reasonable control.
Mosaiq's records of your orders, Fills, fees, funding and balances are evidence of those matters unless you show they are wrong. Report any error you find within 30 days of the order, Fill or transfer concerned.
Mosaiq may send you notices through the App, the Website, or by email if Mosaiq has your email address. Send notices to Mosaiq at hello@mosaiq.broker.
These terms are written in English. If a translation conflicts with the English version, the English version prevails.
Nothing in these terms creates a partnership or joint venture between you and Mosaiq.
No one other than you and Mosaiq has any right to enforce these terms.

28. Contact

Email: hello@mosaiq.broker
Announcements: https://x.com/mosaiqbroker
Operator: 0D Labs, a company incorporated in the Cayman Islands