Terms of Service

1.About these Terms

These Terms of Service (the “Terms”) are an agreement between you and Prow (“Prow”, “we”, “us”). They cover the Prow website, web app, installable app and any related software (together, the “Interface”).

You accept these Terms by ticking the confirmation box when you sign in or before you trade, or by using the Interface. Our Privacy Policy, Cookie Policy and Risk Disclosure are part of these Terms. If you do not agree, do not use the Interface.

Terms version: 2026-09-28.

2.Who can use Prow

You may use the Interface only if all of the following are true:

• You are at least 18 years old and able to enter into a binding contract.
• You are not a resident or citizen of, and are not located in or organised under the laws of, the United States, the United Kingdom, the European Union, the United Arab Emirates, Ontario (Canada), Cuba, Iran, North Korea, Syria, Russia, Belarus, and the Crimea, Sevastopol, Donetsk, Luhansk, Zaporizhzhia and Kherson regions of Ukraine (the “Restricted Regions”). We may add regions to this list at any time.
• You are not a person or entity named on, or owned or controlled by anyone named on, a sanctions list, including the U.S. Treasury OFAC Specially Designated Nationals and Blocked Persons List, the United Nations Security Council Consolidated List, the EU Consolidated Financial Sanctions List or the UK Sanctions List, and you are not acting on behalf of such a person.
• You do not use a VPN, proxy, relay or any other tool to hide your location or to get around geographic restrictions.
• Using the Interface and trading derivatives is legal for you where you live and where you are.
• You use the Interface for yourself and not on behalf of anyone else.

We block access from Restricted Regions using IP geolocation. That block is not perfect, and it does not make you eligible. You are responsible for confirming your own eligibility. If you stop meeting these requirements you must stop using the Interface.

3.Your license to use the Interface

Subject to these Terms, we grant you a limited, personal, revocable, non-exclusive, non-transferable, non-sublicensable license to access and use the Interface for your own trading. We may revoke this license at any time. All rights not expressly granted to you are reserved.

You may not copy, modify, distribute, sell or lease any part of the Interface, or reverse engineer or attempt to extract its source code, except where the law expressly allows it or a component's open-source license permits it.

4.Prow is non-custodial

• Prow never holds, controls or has access to your funds or your wallet. Your assets sit in your own accounts on the venues you connect.
• To place orders from the Interface, your browser creates a trading key (an “agent” or API wallet) on your device and asks your wallet to approve it on the venue. The trading key can place and cancel orders. It cannot withdraw or transfer funds. Its private key is encrypted and stored only on your device; we never receive it.
• Deposits and withdrawals are always signed by your own wallet.
• We are not a broker, exchange, dealer, custodian, fiduciary or investment adviser, and we do not execute, clear or settle trades. Every order you submit goes directly to the venue and is executed under that venue's rules.

5.Your wallet, keys and devices

You are solely responsible for your wallet, seed phrase, passkeys, sign-in methods and devices, and for every action taken with them. Anyone with access to your unlocked device may be able to trade with the trading key stored on it. If you lose a device or clear your browser data, the trading key on it is lost and we cannot recover it; you can revoke it and create a new one from your wallet. Tell us promptly at support@prowdex.com if you believe your Prow account has been compromised.

6.Third-party venues and services

Trading happens on independent third-party protocols and venues, currently Hyperliquid and Aster, with others planned (“Venues”). Venues run their own software, blockchains, matching engines, liquidation engines, oracles, margin and funding rules, and can change them at any time. By trading on a Venue you agree to its terms, and you are responsible for complying with them.

We do not control Venues or the blockchains, bridges, wallets, sign-in providers and other third-party services the Interface relies on (for example Privy for sign-in, WalletConnect for wallet connections, and Circle CCTP for USDC transfers). They may be unavailable, slow, changed, attacked or discontinued, and they may reject, delay, partially fill or cancel your orders. We are not responsible for them or for any loss they cause.

7.No advice

Nothing in the Interface is investment, financial, trading, legal or tax advice, or a recommendation to buy, sell or hold anything. Market data, charts, liquidation prices, P&L, estimated fees, risk warnings and other information are provided for convenience, may be delayed, incomplete or wrong, and should not be relied on. You make all trading decisions yourself and are responsible for any taxes that apply to you.

8.Risks you accept

Perpetual futures are complex, leveraged products. You can lose your entire margin quickly, positions can be liquidated without warning, and funding payments, fees, slippage and price gaps can add to losses. Read the full Risk Disclosure before you trade. You confirm that you understand these products and can afford to lose the funds you trade with.

9.Fees

Each order placed through the Interface carries the Venue's own trading fees plus a Prow fee (standard rate 0.025% of order notional), collected by the Venue as a builder fee when the order fills. You approve the maximum Prow fee once from your wallet. The fee that applies is shown before you confirm an order. Network, bridge and gas costs are charged by third parties. Fees are not refundable, including for orders that are later closed, liquidated or reversed.

Launch offer: orders placed through the Interface up to and including Dec 31, 2026 (before 00:00 UTC on Jan 1, 2027) carry no Prow fee (0%); the Venue's own fees still apply. Orders placed from Jan 1, 2027 carry the standard Prow fee of 0.025%. The approval you give at connect is for the standard rate, so you are not asked again when the offer ends.

We may change the Prow fee for future orders. We will give notice in the Interface before a change takes effect, and the fee that applies is always shown in the order ticket before you confirm. A change never applies to orders already placed.

10.Prohibited use

You must not use the Interface to:

• break any law or regulation, including sanctions, anti-money-laundering, counter-terrorist-financing, tax and securities laws;
• get around the eligibility rules or geographic restrictions, including by using a VPN or proxy;
• manipulate markets, including wash trading, spoofing, layering, front-running or pump-and-dump schemes;
• trade with funds that come from crime or that you are not entitled to use;
• attack, overload, probe, scrape at abusive rates or interfere with the Interface or its infrastructure, or introduce malware;
• access another person's account or impersonate anyone;
• build a competing product by copying the Interface, or resell access to it.

11.Intellectual property

The Interface, including its design, text, graphics, logos and software, is owned by us or our licensors and protected by intellectual property laws. “Prow” and the Prow logo are our trademarks. Venue names and logos belong to their owners and are used only to identify them. If you send us feedback, we may use it without any obligation to you.

12.Suspension and termination

We may suspend, restrict or end your access to the Interface, or any feature, at any time and without notice, including if we believe you broke these Terms, if the law requires it, or to protect users or the Interface. We may also change or discontinue the Interface. Because Prow is non-custodial, your funds and open positions stay on the Venue and remain accessible to you there directly, even if you can no longer use Prow.

You may stop using the Interface at any time and ask us to delete your account (see the Privacy Policy). Sections 5 to 8 and 11 to 19 survive termination.

13.Disclaimer of warranties

The Interface is provided “as is” and “as available”, with all faults. To the fullest extent permitted by law, we disclaim all warranties, express or implied, including warranties of merchantability, fitness for a particular purpose, title, non-infringement, accuracy and uninterrupted or error-free operation.

We do not promise that the Interface will be available, secure, timely or free of bugs, that prices, balances, positions, liquidation prices or other data shown are correct or current, or that orders will be delivered to a Venue or executed as intended.

14.Limitation of liability

To the fullest extent permitted by law, we (and our affiliates, officers, employees, contributors and agents) are not liable for:

• any trading losses, liquidations, margin calls, funding payments, slippage or missed opportunities;
• bugs, errors, incorrect or delayed data or display, or downtime of the Interface;
• orders or cancellations that fail, are delayed, duplicated, partially filled or executed at an unexpected price;
• the acts, failures, outages, exploits, insolvency or rule changes of any Venue, blockchain, bridge, oracle, wallet or other third-party service;
• smart contract, protocol, consensus or network failures, forks, attacks or congestion;
• loss, theft or compromise of your wallet, seed phrase, passkeys, devices or trading keys;
• notifications or alerts that are late, missing or wrong;
• any indirect, incidental, special, consequential, exemplary or punitive damages, or lost profits, revenue, data or goodwill,

even if we were told they were possible.

Where liability cannot be excluded, our total liability to you for all claims relating to the Interface or these Terms is limited to the greater of (a) the Prow fees you paid in the 12 months before the event giving rise to the claim and (b) US $100.

Some jurisdictions do not allow certain exclusions or limits, so some of the above may not apply to you. Nothing in these Terms limits liability that cannot be limited by law, such as for fraud.

15.Indemnification

You will indemnify and hold harmless us and our affiliates, officers, employees, contributors and agents from any claim, loss, liability, penalty or cost (including reasonable legal fees) arising from your use of the Interface, your trading, your breach of these Terms or of any law, or your violation of anyone else's rights.

16.Governing law

These Terms and any dispute relating to them or to the Interface are governed by the laws of the jurisdiction in which the operator is incorporated (to be specified), without regard to conflict-of-law rules.

17.Disputes, arbitration and class action waiver

Before starting any claim, email us at support@prowdex.com and give us 30 days to try to resolve it informally.

If it is not resolved, any dispute, claim or controversy relating to these Terms or the Interface will be finally resolved by binding arbitration administered by an arbitral institution to be specified, seated in the operator's jurisdiction, in English, before a single arbitrator. The arbitrator's decision is final and may be entered in any court with jurisdiction. Either party may seek urgent injunctive relief from a court.

You and we each waive the right to a jury trial and to bring or take part in any class, collective or representative action. Claims may be brought only individually.

You must bring any claim within one year after it arises, or it is permanently barred, unless the law requires a longer period.

18.Changes to these Terms

We may update these Terms. The date at the top shows the latest version. When we make a material change, we will ask you to accept the new Terms before you can trade again. If you do not agree, stop using the Interface.

19.General

• Entire agreement. These Terms, with the documents they refer to, are the whole agreement between you and us about the Interface and replace any earlier understanding.
• Severability. If any part of these Terms is found unenforceable, it will be limited to the minimum extent necessary and the rest stays in effect.
• No waiver. If we do not enforce a right, we have not waived it.
• Assignment. You may not transfer these Terms. We may transfer them, for example as part of a reorganisation or sale.
• Force majeure. We are not responsible for delays or failures caused by events outside our reasonable control.
• Language. These Terms are written in English; any translation is for convenience only.

20.Contact

Prow: support@prowdex.com