DAEJIN - Terms of Use

1. Acceptance and scope

1.1. These Terms of Use (“Terms”) govern your access to and use of the DAEJIN website, interface, applications and related services (the “Platform”) through which users may trade binary event contracts settled by smart contracts on public blockchains. By accessing the Platform, connecting a wallet, or signing any transaction through the Platform, you agree to these Terms and to our Privacy Policy.

1.2. If you do not agree, do not use the Platform.

1.3. These Terms incorporate the Risk & Rules page published on the Platform (including the Market Rules, the Resolution Policy and the Fee Schedule), which we may update as set out in §17. Where these Terms and the Risk & Rules page conflict, these Terms prevail.

2. Eligibility and restricted persons

2.1. You must be at least 18 years old, or the age of majority in your jurisdiction if higher, and legally capable of entering binding agreements.

2.2. Restricted Persons. You may not use the Platform if you are: (a) located in, resident in, or a citizen of the United States of America or the Republic of Korea; (b) located in, resident in, or organised under the laws of any jurisdiction subject to comprehensive sanctions, or where use of the Platform would be unlawful; (c) a person named on any applicable sanctions list; or (d) using the Platform on behalf of any person described in (a)–(c).

2.3. No circumvention. You must not use a VPN, proxy, false information, or any other means to conceal your location or identity or to circumvent our access restrictions. Doing so is a material breach; we may suspend access, void positions to the extent permitted by the smart contracts, and report as required by law.

2.4. Your representation. Each time you use the Platform you represent that you are not a Restricted Person and that your use is lawful where you are.

3. Nature of the Platform - non-custodial software

3.1. The Platform is a software interface to smart contracts deployed on public blockchains (Solana, Ethereum, BNB Chain). Trades, deposits, settlements and withdrawals are executed by those smart contracts according to their code.

3.2. We do not hold your funds or keys. You hold your digital assets in a wallet you control. We never have custody of, access to, or the ability to move your assets. Deposits into a market’s settlement contract are transactions you sign; withdrawals of uncommitted balances are available to you at all times, including while a market is paused, resolved or voided.

3.3. We are not your counterparty. You trade with other users and with liquidity pools. We do not take positions, set odds, or profit from your losses.

3.4. We are not a broker, dealer, exchange operator, custodian, bank, money transmitter, investment adviser or fiduciary to you, and nothing on the Platform is investment, financial, legal or tax advice.

3.5. Wallets and third-party services. Wallet software (including any embedded non-custodial wallet offered through a third-party provider), fiat on-ramp and off-ramp services, and blockchain networks are provided by third parties under their own terms. You are responsible for your wallet, your keys and your recovery credentials. We are not responsible for third-party services, network congestion, forks or outages.

4. Accounts, identity and access

4.1. Access is by wallet connection or, where offered, by email or social login that creates an embedded non-custodial wallet controlled by you. You are responsible for all activity through your wallet or login.

4.2. We may require identity information, or rely on identity verification performed by third-party on-ramp providers, to enforce §2 and applicable law. We may suspend or restrict access where we cannot verify eligibility.

4.3. Network fees. For embedded-wallet users on Solana we may pay network transaction fees on your behalf, subject to limits we set. This is a convenience, not an entitlement, and may be withdrawn at any time.

5. Digital assets and collateral

5.1. The Platform uses USDC as the sole collateral. You are responsible for obtaining USDC and for any risk associated with it, including issuer, depeg and network risk.

5.2. We do not accept or hold fiat currency. Any purchase or sale of USDC through an integrated on-ramp is a transaction between you and the third-party provider, delivered to your own wallet.

6. Markets and trading (Market Rules)

6.1. Instruments. Each market is a binary question with a stated close time and a pre-declared resolution source. Outcome shares (“YES” and “NO”) are fully collateralised: one YES and one NO share are together always redeemable for 1 USDC. Prices lie between 0.01 and 0.99 USDC.

6.2. No leverage. Every share is backed 1:1 by collateral locked in the settlement contract. No margin, credit or borrowing is offered. Your maximum loss on a position is the amount you paid for it.

6.3. Orders. Orders are signed by your wallet. An off-chain matching service pairs compatible orders; every fill is settled on-chain against your signed order. You may also trade against a market’s liquidity pool at the price the pool’s published formula quotes. Orders are firm once signed and may be filled in whole or in part; displayed prices may move between quote and execution.

6.4. Trading window. No new trades are accepted in the final 30 minutes before a market’s close time. Positions may be closed by trading before close; after close, positions are held to resolution.

6.5. Market creation. Users may propose markets subject to automated validation against published rules (unambiguous question; verifiable pre-declared source; defined close time; complete, mutually exclusive outcomes; content policy compliance). We may reject or void any market that violates these rules or applicable law. Creation fees or returnable seeds are as set out in the Fee Schedule.

6.6. Liquidity provision. If you deposit into a liquidity pool or vault, you accept that pooled liquidity bears inventory risk - you may receive back less than you deposited - in exchange for a share of fees. No return, yield or repayment is promised. Worst-case estimates shown before deposit are illustrative. You may withdraw pool positions except during the final 24 hours before a market’s close and until its settlement.

6.7. Prohibited conduct. You must not: manipulate prices or volumes (including wash trading or self-dealing); use bots or automation in violation of published API rules; exploit software errors; use material non-public information where trading on it is unlawful; create questions designed to profit from or incentivise unlawful acts or harm; or otherwise breach these Terms or applicable law.

6.8. Errors and emergencies. We may pause new trading on a market or the Platform to address errors, attacks, network failures or legal requirements. Pausing never blocks your withdrawal of uncommitted balances.

7. Creators

7.1. Users who create questions (“Creators”) receive a share of fees on their markets per the Fee Schedule. Creators are independent of DAEJIN, are not our agents, and must comply with these Terms, our content policy, and applicable law in their communications about the Platform.

7.2. Creators must not promote the Platform to Restricted Persons or in restricted jurisdictions, and must not describe positions on the Platform as investments, guaranteed returns, or betting.

8. Resolution (Resolution Policy)

8.1. Process. After close, the market’s pre-declared source is evaluated through our published resolution process, in which independent automated evaluators each assess the same evidence against the market’s rules; where they agree above configured thresholds, an outcome is proposed; otherwise the case is referred to human review.

8.2. Submission and finality. The proposed outcome is submitted to the settlement contract by a designated resolver whose authority is limited to posting outcomes. You may raise a dispute through the Platform within 24 hours after a proposed outcome is published, stating the grounds and evidence. After the dispute window, the outcome is final, redemption is available on-chain, and it cannot be reversed.

8.3. Deadline and void. Every market has an on-chain resolve deadline. If no outcome is posted by the deadline, any person may void the market on-chain. A market may also be voided where it has become unresolvable (for example, the source is discontinued or the underlying event is cancelled) or where it violated the Market Rules. On a void, every share, YES and NO alike, redeems at 0.5 USDC. You acknowledge that if you acquired shares above 0.5 USDC, a void will return less than you paid, and if below, more.

8.4. Transparency. Each resolution publishes its evidence references, evaluator outputs, timestamps and final outcome.

8.5. No guarantee of resolution timing. We will use reasonable efforts to resolve markets promptly after close but do not guarantee timing.

9. Fees (Fee Schedule)

9.1. Trading: no fee on principal, deposits, or losing positions. A fee of 2% of realised profit is deducted by the settlement contract when a profitable position is closed or redeemed, and distributed among liquidity providers, the market creator and DAEJIN in the proportions published on the Platform (currently 70% liquidity providers / 20% market creator / 10% DAEJIN).

9.2. Market creation: a listing fee of US$20 in USDC, or a returnable seed of US$250 in USDC that becomes the market’s opening liquidity and is returned at its settlement value (which may be more or less than the amount posted).

9.3. Network fees charged by blockchains, and any fees of third-party wallet, on-ramp or off-ramp providers, are separate and are your responsibility except as described in §4.3.

9.4. We may change fees prospectively by publishing an updated Fee Schedule; changes do not apply to positions opened before the change.

10. Risk disclosure

You acknowledge and accept that: (a) you may lose the entire amount paid for any position; (b) prices are determined by other users and by pool formulas and can move rapidly; (c) resolution depends on third-party sources that may be delayed, changed or discontinued; (d) voided markets settle at 0.5 USDC per share regardless of what you paid; (e) liquidity provision bears inventory risk and no return is promised; (f) smart contracts may contain errors and have not yet been independently audited; (g) blockchain transactions are irreversible; (h) digital assets, including USDC, carry issuer, network and regulatory risk; (i) laws applicable to event contracts vary and may change, and access may be withdrawn in your jurisdiction; and (j) you are solely responsible for determining the legality and tax treatment of your use of the Platform.

11. Intellectual property and licence

11.1. The Platform, its software, designs, data feeds, trademarks (including DAEJIN and 다진) and content are owned by or licensed to DAEJIN. Smart contract code may be published under the licence stated in its repository.

11.2. We grant you a limited, revocable, non-exclusive, non-transferable licence to use the Platform for its intended purpose in accordance with these Terms. You may not copy, modify, reverse engineer (except as permitted by law), scrape beyond published API limits, or resell access.

11.3. Public data feeds (activity, prices, resolution logs) may be used for personal, non-commercial purposes; commercial use requires a licence from us.

12. Disclaimers

THE PLATFORM IS PROVIDED “AS IS” AND “AS AVAILABLE” WITHOUT WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, ACCURACY, NON-INFRINGEMENT AND UNINTERRUPTED OPERATION. WE DO NOT WARRANT THE ACCURACY OF ANY MARKET DATA, THE TIMING OR OUTCOME OF ANY RESOLUTION, THE CONDUCT OF ANY USER, CREATOR OR THIRD-PARTY PROVIDER, OR THE OPERATION OF ANY BLOCKCHAIN OR SMART CONTRACT.

13. Limitation of liability

TO THE MAXIMUM EXTENT PERMITTED BY LAW, DAEJIN, ITS AFFILIATES, AND THEIR DIRECTORS, OFFICERS, EMPLOYEES AND AGENTS SHALL NOT BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL OR PUNITIVE DAMAGES, OR FOR LOSS OF PROFITS, DATA, DIGITAL ASSETS OR GOODWILL, ARISING FROM OR RELATED TO THE PLATFORM, HOWEVER CAUSED. OUR AGGREGATE LIABILITY FOR ALL CLAIMS SHALL NOT EXCEED THE GREATER OF (A) THE FEES YOU PAID TO DAEJIN IN THE TWELVE MONTHS BEFORE THE CLAIM AND (B) US$100. NOTHING IN THESE TERMS EXCLUDES LIABILITY THAT CANNOT BE EXCLUDED BY LAW.

14. Indemnity

You will indemnify and hold harmless DAEJIN and its affiliates from claims, losses and expenses (including reasonable legal fees) arising from your breach of these Terms, your violation of law or third-party rights, your markets or communications as a Creator, or your circumvention of access restrictions.

15. Suspension and termination

15.1. We may suspend or terminate your access to the Platform interface at any time for breach of these Terms, suspected unlawful activity, legal requirement, or risk to the Platform or other users. Because the Platform is non-custodial, suspension of interface access does not affect your ability to withdraw uncommitted balances directly from the smart contracts.

15.2. You may stop using the Platform at any time. Sections that by their nature should survive (including §§10–14, 16) survive termination.

16. Governing law and disputes

16.1. These Terms are governed by the laws of Belize.

16.2. Any dispute arising out of or relating to these Terms or the Platform shall be resolved by binding arbitration seated in Belize City, Belize, under the rules of [arbitral institution], in English, before a single arbitrator, except that either party may seek injunctive relief in a court of competent jurisdiction. You waive any right to participate in a class or representative action to the extent permitted by law.

16.3. Disputes about a market’s resolution are handled under §8 and are final once the dispute window closes; §16.2 does not reopen resolved outcomes.

17. Changes to the Terms

We may amend these Terms by posting the amended version with a new effective date. Material changes will be notified through the Platform at least 7 days before they take effect, except where required sooner by law. Continued use after the effective date constitutes acceptance. Changes do not apply retroactively to positions opened before the effective date.

18. General

18.1. Entire agreement. These Terms, the Privacy Policy and published Platform policies are the entire agreement between you and DAEJIN regarding the Platform.

18.2. Assignment. You may not assign these Terms. We may assign them to an affiliate or successor.

18.3. Severability; waiver. If any provision is unenforceable, the remainder stands. Failure to enforce is not a waiver.

18.4. Language. These Terms are written in English; translations are for convenience and the English version prevails.

18.5. Contact. info@roguesentinel.com · BytePlay Ltd., New Horizon Building, Suite 105, 3½ Miles Philip S.W. Goldson Highway, Belize City, Belize.