📍 Terms of Service

1. Introduction

These Terms of Service (the “Terms”) constitute a legally binding agreement between you (“User,” “you,” or “your”) and Collex Inc., governing your use of the services provided by Collex (the “Service”). Some aspects of the Service, such as activities or assets hosted on external platforms (e.g., Instagram, Twitter, Discord), may have additional or separate terms that apply. If any inconsistencies arise between these Terms and the additional terms, the supplementary terms will take precedence for those specific services.

By accessing our website (collex.io) and using the Service — including purchasing, trading, interacting with digital assets, or engaging in any transactions — you confirm that you have read, understood, and agreed to these Terms. If you disagree with any part of these Terms, you must refrain from using the Service.

Collex operates a marketplace where sellers list collectible assets for sale and buyers can offer to purchase those assets. Except where explicitly stated, Collex is not the seller of assets but only facilitates the transactions.

By using the Service, you consent to receiving important communications, such as updates, transaction confirmations, or account changes. You may opt out of non-essential communications (e.g., marketing messages).

Collex reserves the right to modify these Terms at any time. You agree that any updates will be effective once posted, and continued use of the Service after such updates means you accept the modified Terms. If you disagree with any changes, you may choose to stop using the Service.

2. Our Service

Collex provides a marketplace for users to buy, sell, and interact with digital twins of real-world collectible assets, such as trading cards and memorabilia. These digital assets, minted as NFTs on the Aptos blockchain, represent real-world items held in secure storage by Collex.

When users purchase a digital twin, they gain ownership of the NFT, which corresponds to a physical collectible. Ownership of the physical asset is transferred to the buyer once the corresponding digital twin is acquired.

Certain digital twins can be minted by sending physical cards to Collex Validators. Upon minting, users receive the digital twin as an NFT, allowing them to engage in trading or other DeFi features within the platform.

You understand that Collex does not directly sell the assets, except in specific cases where Collex acts as a seller. We do not guarantee the availability of assets or completion of transactions and are not responsible for disputes between buyers and sellers. You agree to interact with other users in a respectful manner and use common sense to ensure your safety.

You must connect a digital wallet to your Collex account to participate in transactions. Collex automatically generates wallets for users, and transactions are processed through third-party wallet extensions. You acknowledge that wallet transactions are subject to the terms and conditions of the wallet provider.

Collex is not responsible for any private key information or wallet data. All transactions are processed on the blockchain, and users are responsible for securing their private information.

3. Purchase and Sales of Collex Assets

Collex discloses pricing and payment details for digital twins at the time of purchase. Once a transaction is initiated, the terms are final and binding. Payments are made in digital currency and are subject to market fluctuations. We do not accept substitutions of currencies once the transaction is initiated.

When you purchase a digital twin, the asset is minted to your wallet. Digital twins can be traded or transferred between wallets on the Aptos network.

Collex does not hold or manage digital twins unless explicitly stated. The buyer is responsible for ensuring their wallet has sufficient funds to cover all associated costs, including transaction fees and applicable taxes.

By using Collex to buy a digital twin, you confirm that you have read and understood the terms, including applicable fees, which are deducted during the transaction process.

4. Marketplace

After acquiring a digital twin, users can trade it within Collex’s marketplace. Collex offers a buyback program, where users can sell their assets back to Collex at 85% of market price for cards and 2% fee for packs.

In addition, users may redeem their physical asset by requesting it from Collex Validators, subject to applicable procedures and fees.

5. DeFi and Gacha Integration

A unique feature of Collex is its DeFi integration for collectibles. Once a user purchases a digital twin, they can supply their assets to Gacha Machines. These Gacha Machines operate as DeFi pools where users earn rewards in $COLLEX tokens based on their participation.

Users can stake $COLLEX tokens for rewards such as mystery packs or collectible assets. The revenue generated from Gacha machines and other DeFi activities will be distributed to users according to their participation and holdings in the ecosystem.

6. User Responsibilities

• You are solely responsible for the accuracy of the information you provide, including wallet addresses and personal details.

• You must maintain the security of your wallet and promptly report any security breaches or suspicious activity to Collex.

• You agree not to engage in fraudulent activities, such as counterfeit listings, impersonation, or using the platform to circumvent laws or Phygitals' guidelines.

• Collex reserves the right to suspend or terminate your access to the platform if you violate any terms, including engaging in manipulative trading, unlawful activities, or violating intellectual property rights.

7. Community-Driven Features

Collex is committed to being a community-driven ecosystem. Users can participate in governance decisions, propose new features, and engage in incentive-based programs such as rewards for staking, collection achievements, and marketplace activities.

All major updates or changes will be communicated to users via the platform. By continuing to use the service, you agree to participate in governance and abide by any collective decisions made by the community.

8. Asset Redemption and Buyback

Users can request to redeem their physical assets at any time by submitting a request through their Collex account. Redeeming assets may incur additional shipping and handling fees, which will be communicated during the redemption process.

In cases where users wish to exit the platform entirely, Collex offers a buyback program for both digital twins and physical assets. This allows users to cash out their holdings at a fixed rate or request their physical items back.

9. Third-Party Purchases

In some cases, Collex enables third-party purchases of digital twins. Collex is not directly involved in these transactions, and all responsibility lies with the seller and buyer. Phygitals is an intermediary and may not be responsible for disputes between parties.

Important Notes:

• These terms are subject to change at any time. Collex will provide notice of any significant modifications via the platform or email.

• By using the Service, you agree to the use of blockchain-based transactions, which carry inherent risks such as irreversible transactions and exposure to volatility.