Deposits of Non-Supported Virtual Asset

Introduction

This policy applies to all Users depositing tokens and other virtual assets that are not supported by Ndax on the Ndax Platform (“Non-Supported Assets”). All capitalized terms used but not otherwise defined in this policy have the meaning given to them in the User Agreement (see here).  

Deposit of Non-Supported Assets  

Users should confirm which Virtual Assets are supported on the Ndax Platform and should only deposit those Virtual Assets. Users should not deposit any Non-Supported Asset on the Ndax Platform. If, notwithstanding such prohibition, a User makes such a deposit, Ndax does not guarantee either the safekeeping or the recovery of the Non-Supported Assets. The custody of any virtual assets is complex and Ndax’s custodial arrangements do not contemplate the custody of Non-Supported Assets. Nevertheless, Ndax will make reasonable efforts to work with the User, as the sender of Non-Supported Assets, to return such Non-Supported Assets back to the User’s external wallet.  

Asset Recovery Fee

All requests submitted to Ndax by a User to return Non-Supported Assets to an external wallet are subject to a recovery fee, per request, of the greater of (i) 1.5% of the value of the Non-Supported Assets and (ii) a minimum charge of $100 (the “Asset Recovery Fee”). The Asset Recovery Fee reflects the time and resources involved in handling Non-Supported Assets by Ndax.  

Recovery Timeline

Ndax does not guarantee the return of Non-Supported Assets within a specific time, if at all. The return of Non-Supported Assets is subject to a number of factors, including the type, nature, and complexity of the Non-Supported Assets. Ndax will use reasonable efforts to assist the User with the User’s request to return the Non-Supported Asset within a reasonable time after the request is first submitted to Ndax, but Ndax does not guarantee the timing or processing of such.  

Limitation of Liability

Ndax is not liable or responsible for any loss, claim, cost, or consequence arising from, or as a result of, the deposit of Non-Supported Assets on the Ndax Platform, any delay in the attempt to recover any Non-Supported Asset, or Ndax’s inability, in whole or in part, to recover any Non-Supported Asset, including any loss, cost or claim that the User may directly or indirectly suffer or incur. Users are not permitted to deposit any Non-Supported Asset on the Ndax Platform, and a User assumes all risks associated with the deposit of Non-Supported Assets on the Ndax Platform and any loss resulting from such deposit.  

Policy Acceptance

By using the Product (including the Ndax Platform) and the Services, Users agree to be bound by the terms of this policy.

Amendments  

Ndax reserves the right to update this policy at any time, and from time to time, in Ndax’s sole discretion. Users are advised to regularly review this policy for updates.

Last Updated on December 19, 2024