Terms of Use
Please read these terms carefully before using SolyMarket
Last updated: December 20, 2024
1. Acceptance of Terms
By accessing and using SolyMarket ("the Platform", "we", "us", or "our"), you accept and agree to be bound by the terms and provision of this agreement. If you do not agree to abide by the above, please do not use this service.
These Terms of Use may be updated from time to time without notice. Your continued use of the Platform after any such changes constitutes your acceptance of the new Terms of Use.
2. Description of Service
SolyMarket is a decentralized betting platform built on the Solana blockchain that allows users to:
- Participate in prediction markets using $SYM tokens
- Place bets by sending $SYM tokens to designated wallet addresses
- Receive automatic payouts when events are resolved
- View real-time odds that update based on total pool activity
The Platform operates using pure token-based interaction without requiring wallet connections or transaction signing. All betting is conducted using $SYM, our native pump fun token.
3. Eligibility and Account Registration
3.1 Age Requirements
You must be at least 18 years old to use this Platform. By using SolyMarket, you represent and warrant that you are at least 18 years of age.
3.2 Jurisdiction Restrictions
The Platform may not be available in all jurisdictions. You are responsible for ensuring that your use of the Platform complies with all applicable laws and regulations in your jurisdiction.
3.3 Token Security and Wallet Responsibility
You are responsible for maintaining the security of your $SYM tokens and wallet. We do not store your private keys and cannot recover lost wallets, tokens, or funds. All betting transactions using $SYM tokens are irreversible.
4. User Conduct and Prohibited Activities
You agree not to engage in any of the following prohibited activities:
- Violating any applicable laws or regulations
- Participating in betting activities related to illegal events
- Manipulating odds through coordinated $SYM token transactions or false information
- Using automated systems or bots to place $SYM token bets without explicit permission
- Attempting to hack, disrupt, or compromise the Platform's security
- Creating multiple accounts to circumvent platform limitations
- Engaging in money laundering or other financial crimes using $SYM tokens
- Harassing, threatening, or abusing other users
- Attempting to reverse or cancel $SYM token transactions after they have been confirmed
5. Financial Terms and Risks
5.1 Risk Acknowledgment
You acknowledge and understand that:
- Betting with $SYM tokens involves significant financial risk
- You may lose some or all of your $SYM tokens
- Odds can be volatile and unpredictable based on pool activity
- Past performance does not guarantee future results
- $SYM token transactions are irreversible once confirmed on the blockchain
- $SYM token value may fluctuate independently of betting outcomes
5.2 Fees
The Platform may charge fees for certain services, including but not limited to:
- Platform fees deducted from winning payouts
- Solana network transaction fees for $SYM token transfers
All fees will be clearly disclosed before you complete any $SYM token transaction.
5.3 Taxes
You are solely responsible for determining and paying any applicable taxes on your $SYM token betting activities and winnings.
6. Market Resolution and Automatic Payouts
6.1 Resolution Process
Markets are resolved based on objective, verifiable sources. We strive to resolve markets fairly and accurately, but resolution decisions are final unless there is clear evidence of error. Winners receive automatic payouts to the wallet address used to send $SYM tokens.
6.2 Automatic Payout System
When markets are resolved, winning payouts are automatically calculated as original bet × final odds and sent directly to the wallet address that was used to place the $SYM token bet. No claims or manual processes are required.
6.3 Dispute Resolution
If you believe a market has been resolved incorrectly, you may submit a dispute within 7 days of resolution. We will review all disputes in good faith but reserve the right to make final resolution decisions.
6.4 Invalid Markets
In rare cases, markets may be declared invalid due to ambiguous outcomes, cancelled events, or other unforeseen circumstances. In such cases, all $SYM tokens will be returned to participants proportionally to their original sending addresses.
7. Intellectual Property
The Platform and its original content, features, and functionality are owned by SolyMarket and are protected by international copyright, trademark, patent, trade secret, and other intellectual property laws.
You may not reproduce, distribute, modify, create derivative works of, publicly display, publicly perform, republish, download, store, or transmit any of the material on our Platform without our prior written consent.
8. Privacy and Data Protection
Your privacy is important to us. Our collection and use of personal information is governed by our Privacy Policy, which is incorporated into these Terms by reference.
By using the Platform, you consent to the collection, use, and sharing of your information as described in our Privacy Policy.
9. Disclaimers and Limitation of Liability
9.1 Platform Availability
We do not guarantee that the Platform will be available at all times. The Platform may be temporarily unavailable due to maintenance, updates, or technical issues. $SYM token transactions may be delayed due to Solana network congestion.
9.2 No Investment Advice
Nothing on the Platform constitutes investment, financial, legal, or tax advice. You should consult with qualified professionals before making any financial decisions involving $SYM tokens or betting activities.
9.3 $SYM Token Disclaimers
We make no guarantees about the future value, utility, or availability of $SYM tokens. The token launch date and availability are subject to change without notice.
9.4 Limitation of Liability
TO THE MAXIMUM EXTENT PERMITTED BY LAW, SOLYMARKET SHALL NOT BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES, OR ANY LOSS OF PROFITS OR REVENUES, WHETHER INCURRED DIRECTLY OR INDIRECTLY, OR ANY LOSS OF DATA, USE, GOODWILL, $SYM TOKENS, OR OTHER INTANGIBLE LOSSES.
10. Indemnification
You agree to defend, indemnify, and hold harmless SolyMarket and its officers, directors, employees, and agents from and against any claims, liabilities, damages, judgments, awards, losses, costs, expenses, or fees arising out of or relating to your use of the Platform or violation of these Terms.
11. Termination
We may terminate or suspend your access to the Platform immediately, without prior notice or liability, for any reason whatsoever, including without limitation if you breach the Terms.
Upon termination, your right to use the Platform will cease immediately. However, you will retain access to any funds in your connected wallet.
12. Governing Law and Jurisdiction
These Terms shall be interpreted and governed by the laws of [Jurisdiction], without regard to its conflict of law provisions.
Any disputes arising from these Terms or your use of the Platform shall be resolved through binding arbitration in accordance with the rules of [Arbitration Organization].
13. Severability
If any provision of these Terms is held to be invalid or unenforceable, the remaining provisions will remain in full force and effect.
14. Contact Information
If you have any questions about these Terms of Use, please contact us at:
Email: legal@solymarket.com
Important Notice
By using SolyMarket, you acknowledge that you have read, understood, and agree to be bound by these Terms of Use. If you do not agree with any part of these terms, you must not use our Platform.