> ## Documentation Index > Fetch the complete documentation index at: https://docs.faven.markets/llms.txt > Use this file to discover all available pages before exploring further. # Terms of Services > Faven terms of services. # Faven Terms of Service Draft for legal review — September 24, 2026. Do not publish with bracketed fields unresolved. These Terms of Service ("Terms") govern your use of faven.markets and any related Faven application, interface, and request-for-quote service (together, the "Services"). The Services are operated by \[full legal name, legal form, and registered address] ("Faven," "we," "us"). Contact us at \[legal contact email]. By accessing the Services, connecting a wallet, submitting a request, providing a quote, or signing a transaction through the Services, you agree to these Terms. If you act for an organization, you represent that you are authorized to bind it. If you do not agree, do not use the Services. ## 1. Eligibility and legal compliance You must be at least 18 years old, have legal capacity to enter these Terms, and be legally permitted to use the Services and enter into the relevant transactions where you live and where you access them. You must not use the Services if you, an entity you represent, or a person for whose benefit you act is subject to sanctions that prohibit the relevant activity, or if use would violate applicable financial, derivatives, securities, sanctions, or other law. You must not use a VPN, proxy, or other means to evade an access restriction imposed by Faven. Faven may restrict access by location, person, wallet, asset, market, or activity. The current restricted jurisdictions and categories of users are \[insert approved restrictions and ensure the application enforces them]. Availability of the Services, a market, or an asset on a screen does not mean it is lawful for you to use it. You are responsible for obtaining any authorization your activity requires. ## 2. What Faven provides Faven offers an interface to an onchain protocol for fully collateralized, physically settled European-style options on supported digital assets (the "Protocol"). The interface lets users choose a market, direction, amount, strike price, and expiry; seek or provide a premium quote through Faven's offchain request-for-quote service ("RFQ Service"); and prepare and submit transactions to the Protocol. The Services may also display positions, prices, estimated returns, and settlement information. "Buy Lower" generally describes a seller locking the quote asset to take on an obligation to buy the underlying asset at the chosen strike if a corresponding put option is exercised. "Sell Higher" generally describes a seller locking the underlying asset to take on an obligation to sell it at the chosen strike if a corresponding call option is exercised. A buyer paying the premium receives a token representing the long option for that series (a "Long Token"). These names describe a transaction, not a promise that you will buy lower, sell higher, or profit. The Protocol's deployed code and the confirmed blockchain transaction govern the actual rights, required payments, collateral, deadlines, and settlement of a position. Display text and examples are summaries and may omit conditions. Check the transaction and the applicable Protocol parameters before signing. If an interface description conflicts with the onchain rules, the onchain rules govern the transaction, subject to applicable law. ## 3. Quotes, transactions, and fees An RFQ request is a request for offers; it does not itself create a position. Makers choose whether to respond and what premium to offer. Quotes may expire, be withdrawn, or fail to execute. Selection or display of a quote does not guarantee execution. A transaction occurs only if all required signatures, balances, approvals, and Protocol conditions are satisfied and the transaction is confirmed on the blockchain. Network congestion, price movement, transaction failure, or another user or maker becoming unavailable may prevent execution. The wallet transaction presented for signature may include the maker's terms, collateral transfer, premium payment, Long Token issuance, Faven's fee, and network costs. Review the asset addresses, amounts, strike, expiry, fee recipient, program addresses, and instructions before signing. Faven may construct and relay transactions and choose which maker quotes to show or route under its disclosed RFQ rules; it cannot guarantee the best available price or that every maker receives every request. \[Specify whether quotes are ranked solely by net premium and disclose any maker preference, affiliate participation, or payment for order flow.] When a transaction executes, the seller locks the required collateral in the Protocol and receives the agreed upfront premium, net of any applicable fee as shown in the transaction. A buyer pays the premium and receives the corresponding Long Tokens. Fees payable to Faven, if any, and network fees are \[describe calculation, payer, collection point, and where displayed]. Fees and premiums shown before signing are subject to the actual transaction instructions and onchain execution. An unsuccessful transaction may still incur network fees. Confirmed blockchain transactions generally cannot be reversed by Faven. ## 4. Collateral, expiry, exercise, and Long Tokens Collateral for an executed seller position is locked under the Protocol's rules and may not be withdrawable before the applicable settlement or release conditions are met. At or after expiry, holders of Long Tokens may exercise only in the permitted exercise window and must provide any asset required to complete physical settlement. A Long Token holder is responsible for monitoring the deadline and submitting a valid exercise transaction. A valuable right can expire unused; Faven does not promise to exercise on anyone's behalf. Exercise may result in the seller's collateral being exchanged for the strike payment, including through allocation among sellers in a series under the Protocol's rules. A seller who agreed to Buy Lower may receive the underlying asset in exchange for the committed quote asset. A seller who agreed to Sell Higher may deliver the underlying asset and receive the agreed quote amount. If an option is not exercised, release of remaining collateral follows the Protocol's settlement and withdrawal rules; it may require a separate transaction, payment of network costs, or action by an eligible operator. Timing is not guaranteed. Long Tokens may be transferable where the applicable token and market rules allow it. The person holding a Long Token at exercise bears responsibility for its use; a seller's obligation can remain in force if the original buyer transfers the token. Transferability and exercise may be limited by token issuers, transfer hooks, freezes, wallet support, third-party venues, or applicable law. A token's appearance in the interface is no assurance that it can always be transferred, redeemed, or valued at a stated amount. Fully collateralized describes the quantity of assets committed to the specified option obligation. It does not eliminate losses from market movement, asset failure, software errors, inability to exercise, or other risks. Faven does not offer margin borrowing or automatic liquidation as part of the described seller positions, but the economic value of the collateral and settlement assets can still fall substantially. ## 5. Prices, examples, and information Prices, market data, annualized rates, estimated returns, illustrations, and settlement status may come from third-party feeds or blockchain data and may be delayed, incomplete, or wrong. An annualized percentage is a mathematical illustration based on a specified premium and period; it is not an interest rate, a recurring payout, a guaranteed return, or a forecast of future quotes. Premiums come from buyers of options, not from a guaranteed yield source. Settlement and exercise may depend on an oracle, a specified price observation, a transaction submitted by an eligible party, or other Protocol conditions. Those conditions are market-specific and may differ from the latest price displayed in the interface. You must read the relevant market parameters before transacting. Faven does not provide investment, legal, accounting, or tax advice and does not recommend any transaction or asset. ## 6. Your wallet and your responsibilities You use a third-party wallet and are responsible for its security, private keys, approvals, and all transactions you authorize. Faven does not have your private key or the ability to recover it. A wallet connection alone does not authorize Faven to sign transactions for you. Access to assets deposited in Protocol accounts is governed by the deployed program and its permissions, which may include specified administrative or operator powers; do not assume those accounts are beyond all third-party control. \[Verify and disclose any upgrade, pause, emergency, settlement, or fee-setting authority before publication.] You are responsible for verifying token mint addresses, the relevant program, the terms and bytes of transactions you sign, wallet compatibility, your funds and token-account availability, deadlines, and your compliance with law. You are also responsible for any taxes or reporting arising from your activity. If you provide quotes as a maker, you are responsible for the quotes and signed transactions you submit, their validity, funding, and compliance with applicable law. Separate maker API terms, if presented and accepted, may also apply. ## 7. Risks you accept Options can result in outcomes less favorable than an immediate market purchase or sale. A covered-call seller may give up gains above the strike; a cash-secured-put seller may have to acquire an asset that has fallen below the strike. The premium may be much smaller than a loss or forgone gain. Buyers can lose the entire premium and fees, including by allowing a valuable Long Token to expire without exercise. Additional risks include smart-contract bugs or exploits; incorrect, stale, manipulated, or unavailable oracle data; blockchain congestion, outages, forks, and failed transactions; RFQ delays, stale or absent maker quotes, and transaction relaying failures; stablecoin depegs; wrapped-asset, bridge, custodian, or issuer failures; frozen, paused, seized, or restricted tokens; lack of liquidity for Long Tokens; loss of wallet access; adverse tax consequences; and changes in law or access to the Services. Tokenized assets may carry issuer and transfer restrictions beyond the Protocol's rules. Some of these events could lead to a partial or total loss of value. An audit, if any, does not remove these risks. ## 8. Prohibited conduct and access limits You must not use the Services to commit fraud, manipulate prices or quotes, wash trade, launder money, evade sanctions or legal restrictions, interfere with another user, attack or overload the Services or Protocol, submit malicious code, impersonate another person, or misuse another person's wallet or credentials. You must not automate requests in a way that degrades the RFQ Service or circumvents published limits. We may monitor, limit, suspend, or refuse access to our interface or RFQ Service; remove a supported market; change display or routing rules; or discontinue part of the Services, subject to applicable law. Blocking the interface may not stop direct interactions with public Protocol contracts, and we cannot promise to stop transactions that have already been confirmed. We may respond to lawful requests from authorities as described in our Privacy Policy. ## 9. Third parties, privacy, and intellectual property Wallets, blockchains, validators, oracle providers, token issuers, makers, RPC services, and other linked services are provided by others under their own terms. We do not control their uptime, security, or decisions. Our Privacy Policy at \[privacy policy URL] explains how we process information, including wallet addresses, RFQ data, and technical identifiers. Public blockchain transactions are visible to others and generally cannot be deleted. Faven and its licensors retain rights in the Services, brand, and content. Subject to these Terms, we grant you a limited, nonexclusive, revocable license to use our interface for lawful purposes. Open-source Protocol code, if published, is licensed under its own repository license; these Terms do not change that license. ## 10. Disclaimers and liability To the extent permitted by applicable law, the Services and information are provided "as is" and "as available," without warranties of uninterrupted operation, accuracy, fitness for a particular purpose, or freedom from defects. We do not guarantee execution, any particular premium, preservation of asset value, continued access to a market, or successful exercise or settlement. To the extent permitted by applicable law, Faven and its directors, personnel, and service providers are not liable for indirect or consequential losses, lost profits, lost opportunity, or losses caused by matters outside their reasonable control. \[Insert a jurisdictionally reviewed cap and any required exceptions for fraud, willful misconduct, gross negligence, non-excludable statutory rights, or other mandatory liability.] Nothing in these Terms limits liability that cannot lawfully be limited. Nothing here transfers liability for Faven's own conduct to a blockchain merely because a transaction is recorded there. You will indemnify Faven and its personnel against third-party claims, costs, and reasonable legal fees arising from your unlawful use of the Services, breach of these Terms, or violation of another person's rights, except to the extent caused by Faven's own misconduct or where such indemnity is prohibited by law. ## 11. Changes and disputes We may update these Terms by posting the revised version and its effective date on the Services. Material changes will take effect after \[notice period and method], except where earlier changes are required by law or to address an urgent security issue. Continued use after the effective date means you accept the updated Terms. Changes do not alter the terms of an already confirmed onchain transaction. Before filing a claim relating to the Services, contact \[legal contact email] with a description of the issue and allow \[number] days for an attempt to resolve it informally, unless applicable law permits you to proceed sooner. These Terms are governed by the law of \[jurisdiction], without excluding mandatory protections that apply to you. Disputes are brought before \[courts and venue / separately reviewed arbitration clause]. \[Have counsel decide whether arbitration, any class waiver, and consumer exceptions are appropriate.] If any provision is unenforceable, the remainder stays in effect to the extent permitted by law. ## 12. Contact \[Full legal name and registered address] \[Legal contact email] *** ## Decisions before publication (not part of the Terms) 1. Identify the actual operator, address, contact, governing law, courts, and any required consumer disclosures. Do not claim Faven is unregulated or exempt without legal analysis. 2. Obtain jurisdiction-specific advice on options/derivatives and tokenized securities, including the operator's RFQ matching, fees, maker onboarding, marketing, sanctions screening, and eligibility rules. Choose and enforce a concrete geographic policy. 3. Confirm the deployed program's exact exercise and settlement lifecycle, oracle and price conditions, roles and permissions, upgradeability, dust treatment, and how holders reach their assets if the interface stops working. 4. Fix the precise fee schedule, quote ranking, maker conflicts, cancellation semantics, notice process, and Privacy Policy. Verify each against the interface and API before launch. 5. Have local counsel review exclusions, liability cap, indemnity, dispute provisions, and acceptance flow. The reference sites' US exclusions and arbitration venues should not be copied by default.