Terms of service

1. What Tokex is

Tokex is an exchange for LLM credits. You can buy credits denominated in a specific provider and model, spend them on inference requests routed through our API, and trade them with other users through our market. Tokex is the customer of record with the upstream model providers; you are a customer of Tokex. You never hold, and we never transfer to you, any credit or account with an upstream provider.

2. Accounts and credentials

You are responsible for every action taken with your credentials. API keys and session secrets are shown once and stored only as hashes; we cannot recover them, only revoke them. You may freeze your own account at any time (the panic action), which revokes credentials and stops everything that moves value. Keep your email current once email sign-in ships: it is how you recover a frozen account and how we warn you when something important changes.

3. Credits are not money

Credits are a prepaid entitlement to inference through Tokex, denominated per provider and model. They are not legal tender, not a deposit, not an investment, and carry no interest. One credit of one model is not one credit of another. Except as described in section 6, credits have no cash value and no right of withdrawal. We may change which models are listed, and section 8 describes what happens when an upstream model changes or disappears.

4. Buying credits

Purchases are quoted before you pay: the amount, the load fee (currently 500 basis points, stated in every quote), and the credits you will receive. Credits are minted only when our payment processor confirms the charge. If the processor's confirmation does not match our quote, nothing is minted and the purchase is held for human review. Purchases are final except as required by law and except as section 6 provides.

5. Spending credits

Inference requests burn credits at the listed per-token rates. We escrow the reservation before a request runs and settle the recorded usage when it finishes, up to that reservation. A confirmed provider rejection releases the hold. If the provider may have processed the request but its outcome is unknown, the hold remains reserved while the request is reconciled; starting another request can incur additional usage. Spending limits include unresolved reservations: a request that would cross its applicable limit is refused before dispatch. Cached responses, autopilot routing, standing orders, and deployed agents all settle through the same ledger under the same rules.

6. Redemption, and its deliberate bounds

Two rails exist, and both are bounded on purpose:

• Store credit. You may convert eligible credits into Tokex store credit (tokex:usd) at the lower of the market price and the list price, minus the stated fee. Store credit buys model credits and nothing else.
• Cash. Where the cash rail is enabled, you may redeem eligible credits for a payout, at the lower of market and list, minus the stated fee, only after your lifetime purchases exceed the stated minimum, only above the stated per-payout floor, only for purchases older than the stated hold period, and never for more, in lifetime total, than you yourself paid in.

The lifetime cap is the point: redemption is a refund on prepaid value you purchased, not a way to move money between people. Prices, fees, floors, and hold periods are stated in the product at the time of redemption.

7. Trading

The market lets users trade credit types against each other through automated pools. Prices move with the pool; quotes state price impact before you confirm; a confirmed swap is final. Tokex takes the stated fee and does not trade against you. Nothing in the product is investment advice, a security, or a solicitation; credits are inventory for a service, and trading exists so a credit you no longer want can become one you do.

8. The upstream is not ours

Models are provided by upstream providers and can be renamed, repriced, degraded, or withdrawn by them at any time. If a model is withdrawn, your credits for it can be traded through the market or redeemed under section 6 while it remains listed; we may also, at our discretion, convert stranded denominations at a stated rate. We share upstream capacity across customers and may throttle to keep the platform inside upstream limits.

9. Acceptable use

Your prompts go out under our provider accounts, so upstream provider usage policies flow down to you in full. Additionally you may not use Tokex to: break the law, generate content that upstream policies prohibit, probe or overload the service, attempt to access other accounts, or resell raw access in a way that hands your Tokex credentials to third parties.

We screen prompts. A request our moderation screen flags is refused before it runs and before anything is charged; the refusal is recorded by category, not by content. Repeated flagged requests freeze the account.

10. Enforcement

We may refuse requests, freeze accounts, and terminate service for violations of these terms. A freeze stops everything that moves value; reading your balances and history stays open. A freeze you invoked yourself is yours to lift by proving control of the account. A freeze we imposed for abuse or for a payment reversal is lifted only by us. On termination for violation, balances remain redeemable under section 6 unless the funds themselves are the subject of fraud or a reversal, less amounts we are entitled to recover.

11. Chargebacks and reversals

If money you paid comes back (a refund, a chargeback, a dispute), the credits that money bought are burned, any part you already spent is recorded as a debt you owe, your account is frozen, and any redemption allowance derived from the purchase is cancelled. We may pursue amounts already spent.

12. Availability

The service is provided as-is and as-available. We do not promise uptime, and scheduled or emergency maintenance may interrupt service. The ledger is designed so that an interruption never charges you for work not delivered: holds either settle for what arrived or return in full.

13. Disclaimers

Model output is generated by upstream systems and can be wrong, offensive, or useless. You are responsible for how you use output. To the fullest extent allowed by law, we disclaim all warranties, express or implied, including merchantability, fitness for a particular purpose, and non-infringement.

14. Limitation of liability

To the fullest extent allowed by law, our total liability for all claims in any 12-month period is limited to the amounts you paid Tokex in that period, and we are not liable for indirect, incidental, special, consequential, or punitive damages, or for lost profits, data, or goodwill. Nothing here limits liability that cannot lawfully be limited.

15. Indemnity

You will defend and indemnify COMPANY NAME against claims arising from your content, your prompts, your use of output, or your violation of these terms or of upstream provider policies.

16. Changes to these terms

We may update these terms. Material changes will be announced in the product and by email at least 14 days before they take effect; continued use after that is acceptance. The version in force is always published at URL.

17. Governing law and disputes

GOVERNING LAW AND DISPUTES, to be drafted by counsel

18. Contact

COMPANY NAME, ADDRESS, EMAIL.