Terms of service — Alchimex

1 · Who we are

Alchimex (“the lab”, “we”) is operated by the Alchimex operators (“the operator”). These terms are a contract between you and the operator. By creating a batch you accept them; if you do not, do not use the service.

The lab is built so that it does not need to know who you are: no account and no identity are asked, and what it keeps about a batch is limited and short-lived, as set out in the privacy notice. These terms therefore never require you to identify yourself; a batch is proven yours by its batch key.

2 · What the lab does

You send one asset, you receive another. We route the exchange; we never hold an account for you.

The lab is an interface that lets you exchange one supported crypto-asset for another. When you create a batch, the lab obtains a quote and a deposit address from a cross-chain routing service (“the routing service”) and relays the order to it. Depending on the pair, the exchange is carried by a cross-chain protocol (“the route”), named on the estimate (“via …”) and on the batch page. The exchange itself, the custody of the deposit while it is being processed and the delivery of the result are performed by the routing service, the venues of the route and the underlying blockchains, not by the lab.

The lab is non-custodial towards you: it does not open accounts, hold balances or store keys on your behalf.
The lab does not provide fiat on-ramps, lending, staking, investment advice or any service beyond the exchange of one crypto-asset for another.
The lab may add, remove or suspend supported assets and networks at any time, including while a batch is in progress, in which case clause 7 applies.

3 · Who may use it

You may use the lab only if you are at least 18 years old, have the legal capacity to enter into this contract, and are not located in, or acting on behalf of a person located in, a jurisdiction where using such a service is unlawful or where the operator is prohibited from serving you. You are responsible for checking that your use of the lab complies with the laws that apply to you, including tax law.

The lab is not offered to persons or entities subject to sanctions administered by the United Nations, the European Union, the United Kingdom, the United States (OFAC). The lab and the routing service may screen addresses and refuse, pause or return a batch when a deposit appears linked to a sanctioned party or to illicit activity.

4 · A batch, step by step

You measure. You choose the pair, the amount and the address that will receive the result (the “collection flask”). You may also give a refund address. You are solely responsible for the accuracy of these addresses; a result sent to the address you provided is a complete delivery.
The formula is engraved. The lab shows an expected output based on a quote at that moment. The batch is created with a deposit address and an expiry time.
You pour. You send the exact amount, on the stated network, to the deposit address before expiry. The lab never initiates transfers from your wallet.
The athanor runs. Once the network confirms the deposit, the routing service has it executed on the route shown on the batch page and sends the result to your collection flask.
You collect. The batch is complete when the outgoing transaction is broadcast. The batch page stays reachable with its batch number for 30 days after the batch settles; after that its addresses and hashes are erased and the page no longer exists. Keep what you need.

A batch number gives read access to its batch page (amounts, addresses, status) to whoever holds it, and nothing more: it cannot move funds or change the batch. Keep it to yourself, like a receipt. Changing a batch (refund address, return, payout address, delivery email) needs its batch key, shown once when the batch is sealed, unless you do it from the browser that created the batch. The lab stores only a fingerprint of that key and cannot recover it.

5 · Formulas, fees and limits

The rate you see is held for a while, then the market decides. Our fee is already inside the number.

The expected output is held until the batch expiry shown on the deposit page. A deposit that arrives after expiry, or in a different amount than requested, is processed under clause 7.
The lab’s service fee (0.5 % unless stated otherwise on the deposit page) and the costs of the routing service and of the route are included in the expected output. Network fees for sending your deposit are paid by you; network fees for delivering the result are included.
Each formula has a minimum, quoted before you seal the batch. Amounts below it cannot be exchanged. The lab may also apply maximums or refuse a batch without giving a reason.
Indicative rates on the ledger and the home page are not offers. Only the output shown when you seal a batch binds the lab, subject to this clause.

6 · Your responsibilities

Send only the stated asset on the stated network. Assets sent on another network, or tokens the lab does not support, may be impossible to recover.
Send the deposit from a wallet you control. Deposits from exchanges or smart contracts that cannot receive a return are at your own risk.
Provide a valid collection address on the right network. The lab checks the format, not ownership.
Keep your batch number and batch key safe. The lab cannot identify you by other means.
Do not interfere with the service (automated abuse, probing, rate-limit evasion, attempts to access other users’ batches).

7 · Returns and recovery

If something does not fit, we return what arrived minus the network cost, or ask you where to send it.

Late deposit. A deposit received after expiry is either exchanged at the formula in force when it is detected, or returned, as shown on the batch page. You may be asked to choose.
Short deposit. An amount above the minimum but below what was requested is exchanged at the current formula, or you may top up at the same address, or continue with what arrived.
Below minimum. The batch pauses. You may top up or request a return to your refund address, minus the network fee of the return.
Wrong network or unsupported token. Recovery is attempted by hand when technically possible, may take several working days, is billed a handling fee of …, and is not guaranteed. Assets on networks where the routing service holds no keys cannot be recovered.
Failed exchange. If the exchange cannot be completed for reasons on our side, the deposit is returned to your refund address, or to an address you provide, minus the network fee.
A return is broadcast to the address you gave. Once broadcast it cannot be reversed.

8 · Risks you accept

Volatility. The value of crypto-assets changes constantly. The output of a batch may be worth less than your deposit by the time it arrives.
Blockchain finality. Transactions cannot be cancelled or reversed once broadcast. Congestion, reorganisations or network outages can delay or, in rare cases, defeat a transfer.
Third parties. The exchange depends on the routing service and on the protocols of the route, none of which the lab controls. Their delays or failures affect your batch.
Self-custody. Loss of your wallet, keys, batch number, batch key or refund address is yours to bear.
Regulation. The legal status of crypto-assets and of services like this one may change, and such changes may prevent the lab from completing or offering batches.

9 · Prohibited uses

You must not use the lab to launder the proceeds of crime, finance terrorism, evade sanctions, defraud anyone, trade on behalf of a third party without authorisation, or in breach of any law that applies to you. The lab may pause a batch or refuse a return to a given address when a deposit is flagged by the routing service. If the operator is legally compelled to disclose data, it can only disclose what the privacy notice lists, for batches still within their retention period.

10 · Liability

The service is provided “as is”. To the extent permitted by law, the operator excludes all warranties, and its total liability for any claim arising from a batch is limited to the service fee received for that batch. The operator is not liable for indirect or consequential losses, lost profits, loss of value of crypto-assets, or losses caused by the routing service, the venues and bridges of the route, the blockchains, your wallet provider, or your own errors (wrong address, wrong network, wrong amount, lost batch number or batch key, data erased after the retention period).

Nothing in these terms limits liability for fraud or any liability that cannot be limited by the applicable law. Consumers keep any non-waivable rights granted by the law of their country of residence.

11 · Changes and termination

The operator may change these terms. The date at the top shows the current version; a batch is governed by the version in force when it was created. The operator may suspend or stop the service, in whole or for certain assets, at any time; batches already funded are completed or returned under clause 7.

12 · Governing law and disputes

Before any claim, write to the lab with your batch number: most issues are resolved in a few exchanges, and it never requires you to reveal your identity.

13 · Contact

Questions about these terms or a batch: contact the lab or write to contact@alchimex.io. Always include your batch number; for encrypted mail, use our PGP key. Never send your batch key: the lab will never ask for it.