1.1 These User Terms and Conditions ("Terms") govern your use of the website at www.giottus.com, the Giottus mobile applications, and all related products and services (together, the "Platform" and the "Services").
1.2 The Platform is operated by Giottus Technologies Private Limited, a company incorporated under the Companies Act, 2013 (CIN U74994TN2017PTC119501), with its registered office at L363, 2nd Floor, 16th Cross Street, Thiruvalluvar Nagar, Thiruvanmiyur, Chennai-600 041 ("Giottus", "we", "us", "our").
1.3 Giottus is registered with the Financial Intelligence Unit -- India ("FIU-IND") as a Reporting Entity under the Prevention of Money Laundering Act, 2002, with Registration ID VA00030979.
1.4 Registration with FIU-IND is not a licence, authorisation, approval or endorsement. It does not mean that any product offered on the Platform is regulated, approved or supervised by any authority, that any authority has reviewed the merits of any product, or that you have the benefit of any regulatory protection or compensation scheme. Virtual digital assets are not currently regulated in India except for the limited purposes of taxation, prevention of money laundering, and reporting.
1.5 These Terms comprise: this Part I; each Addendum in Part II that applies to a product you use; the Schedule of Fees; the Risk Disclosure Statement; the Privacy Policy; and the AML and KYC Policy. Where an Addendum conflicts with Part I in respect of the product it governs, the Addendum prevails.
1.6 By opening an Account or using the Services you agree to these Terms. If you do not agree, do not use the Platform.
In these Terms:
"Account" means your user account on the Platform.
"Addendum" means a product-specific addendum forming part of these Terms.
"Applicable Law" means any law, regulation, rule, direction, guideline, circular, order or judgment applicable to us, to you, or to the Services.
"Contract" has the meaning given in Addendum D.
"Digital Asset" means a virtual digital asset supported on the Platform.
"Digital Asset Wallet" means the record of Digital Assets credited to your Account.
"INR Wallet" means the record of Indian Rupee balances credited to your Account.
"Quoted Price" has the meaning given in clause 9.1.
"Schedule of Fees" means the schedule of fees published at https://www.giottus.com/docs/fees.html, as amended in accordance with clause 10.2.
3.1 You may open an Account only if you are a natural person aged 18 or over with capacity to contract, or a legal entity duly constituted and authorised, and in each case are resident in India or in another jurisdiction we support.
3.2 You may hold one Account only. You may not open or operate an Account for or on behalf of any other person, and you may not permit any other person to access or use your Account.
3.3 We may decline to open an Account, and may close an Account, at our discretion, subject to clause 13 and to Applicable Law.
3.4 You are responsible for maintaining the security of your credentials, your registered device, your registered email address and your registered mobile number. Subject to clause 14 and clause 16, we are not liable for loss arising from a failure to keep these secure.
4.1 You must complete customer due diligence before you may transact, and must provide a valid Permanent Account Number. We verify identity by live video with liveness detection, verify your bank account by penny-drop validation, and record device and location metadata, in each case as required by the FIU-IND AML and CFT Guidelines for Reporting Entities providing services related to virtual digital assets.
4.2 We are required to re-verify and periodically re-assess your information. You must keep your information current, and must notify us within 30 days of any change to your identity documents, address, bank account, tax residency, or beneficial ownership.
4.3 Tax residency and taxpayer identification. You must provide a self-certification of your tax residency and, where applicable, your Taxpayer Identification Number, and must notify us within 30 days of any change in circumstances affecting it. We require this under section 509 of the Income-tax Act, 2025, the Crypto-Asset Reporting Framework, and Rules 114F to 114H of the Income-tax Rules. If you do not provide or update this information, we may restrict your Account until you do.
4.4 Transfer information (Travel Rule). Where you transfer Digital Assets to or from another service provider, we are required to collect and transmit originator and beneficiary information, including names, wallet addresses and identifiers, before or at the same time as the transfer. We may refuse or delay a transfer where this information is not available.
4.5 Unhosted wallets. Transfers to or from wallets that are not held with a regulated service provider are subject to enhanced due diligence. We may require you to demonstrate ownership and control of the wallet, and to explain the source of the funds, before we process the transfer.
4.6 Prohibited assets. We do not support anonymity-enhancing tokens, privacy coins, or assets associated with mixing services. If you send such an asset to the Platform we may be unable to return it, and we are not liable for its loss.
4.7 Sanctions. You represent, each time you transact, that you are not, and are not owned or controlled by or acting on behalf of, a person subject to sanctions. We screen transactions and counterparties and will act on a positive result as required by Applicable Law.
4.8 Reporting. We report transaction and account information to Indian tax and financial-intelligence authorities as required, including under the Prevention of Money Laundering Act, 2002, the Income-tax Act, 2025, and the Crypto-Asset Reporting Framework. We are not required to notify you of any particular report and in some cases are prohibited from doing so.
5.1 Nature of your rights
5.1.1 All Digital Assets and INR balances credited to your Account are held by Giottus. Your rights in respect of those assets are purely contractual rights against Giottus as reflected in your Account. No trust, bailment, fiduciary relationship or proprietary interest is created in your favour.
5.1.2 On any insolvency, liquidation, resolution or analogous proceeding of Giottus, you will rank as an unsecured creditor in respect of the value of the assets standing to the credit of your Account.
5.1.3 By accepting these Terms you grant Giottus the right to open and maintain accounts (including omnibus accounts) and to control all assets credited to your Account, whether held separately or commingled with assets of other users or of Giottus.
5.2 Use of assets
5.2.1 Giottus may, at any time and without further notice to you use the assets to liquidity provision, market-making, proprietary trading, collateral, stake, pledge, charge, hypothecate, rehypothecate, lend, invest or otherwise use any Digital Assets or INR balances credited to your Account.
5.2.2 Any capital gains, interest, rewards, staking yields or other profits generated from such use belong exclusively to Giottus and are not payable to you.
5.2.3 The rights in this clause 5.2 apply to all assets held in your Account.
5.3 How Digital Assets are held
5.3.1 Digital Assets are held in omnibus wallets. Your assets are pooled with those of other customers in shared blockchain addresses. Your holding is recorded only in our books and records. There is no blockchain address representing your individual holding, and your entitlement cannot be identified by reference to any specific address, unit or transaction.
5.3.2 We hold the private keys (directly or through custody service providers). You do not hold, control or have access to any private key in respect of assets held on the Platform. You may withdraw supported Digital Assets to a wallet you control at any time, subject to these Terms.
5.3.3 We may appoint, change or replace custody service providers.
5.4 Your INR balance
5.4.1 You are the owner of the Indian Rupee balance in your Account.
5.4.2 Your INR balance is a non-interest-bearing amount held on your behalf and as an advance towards availing the Services. For this limited purpose you appoint us as your duly authorised agent to whom payment is due. We do not operate, and shall not be deemed to operate, a payment system.
5.4.3 Your INR balance is not a deposit under the Companies Act, 2013, is not a pre-paid payment instrument regulated by the Reserve Bank of India, is not a loan or advance made to us, and is not any other financial product.
5.4.4 Where we hold INR balances in excess of the amounts required for immediate settlement, we may place those balances in deposits with scheduled commercial banks in India or in securities or schemes backed by the Government of India, and in no other instrument. Any interest or return generated on those balances accrues to us and is not payable to you. This does not affect our obligation to return your INR balance to you in full on demand in accordance with clause 7.
5.5 Security, loss and insurance
5.5.1 Subject to Applicable Law, we are not liable for loss of Digital Assets arising from cyberattack, security breach, or the act or omission of a custody service provider, except to the extent that the loss arises from our fraud, wilful misconduct or gross negligence.
5.5.2 Forks and airdrops. We reserve the right to offer airdrops of select Digital Assets to certain Users at our sole discretion. You may or may not receive the benefit of any fork or airdrop.
6.1 On activation of your Account we provide you with an INR Wallet and a Digital Asset Wallet.
6.2 Your Digital Asset Wallet may be used to trade supported Digital Assets on the Platform, to participate in a product governed by an Addendum, or to withdraw to an external wallet. You may withdraw supported Digital Assets to a wallet you control at any time, subject to clause 4.5 and clause 13.
6.3 Do not send unsupported assets, or supported assets on an unsupported network, to the Platform. We may be unable to recover them and are not liable for their loss.
6.4 Retrieval from offline storage may delay a withdrawal. We will tell you if a withdrawal is delayed for this reason.
7.1 INR deposits may be made only from a bank account held in your own name that you have linked and we have verified. We do not accept third-party deposits.
7.2 We will process INR withdrawal requests to your linked bank account within 7 working days, subject to banking-channel delays outside our control and to clause 13.
7.3 Banking availability. Access to Indian banking channels for virtual digital asset businesses is subject to the decisions of banks and payment service providers and is outside our control. Deposits or withdrawals may be delayed or suspended if a banking partner restricts, freezes or withdraws service. We will inform you as soon as we are able to and will restore service as soon as we can.
7.4 Withdrawal fees. Digital Asset withdrawals are subject to a fee as set out in the Schedule of Fees.
8.1 We operate an order book which matches buyers and sellers. When you place an order you authorise us to execute it on the terms displayed to you.
8.2 We may refuse, cancel or delay an order where required by Applicable Law, where we suspect fraud or market abuse, where the Platform is disrupted, or under clause 13.
9.1 Instant Buy/Sell allows you to buy or sell supported Digital Assets at a price quoted by us (a "Quoted Price"). When you use Instant Buy/Sell you are buying from, or selling to, Giottus as principal.
9.2 The Quoted Price includes a margin, or spread, over the reference market price. That spread is how we are paid for this service. The buy and sell Quoted Prices at any given moment will differ. The spread is not itemised separately as a fee.
9.3 A Quoted Price is valid only for the period displayed and lapses if it is not accepted within that period.
10.1 Fees are set out in the Schedule of Fees, which forms part of these Terms.
10.2 We may change the Schedule of Fees and inform through notice by email and in-app. A change does not affect an order already executed.
10.3 Fee rates may vary by volume and by product. Where we agree individual rates with you, those rates apply for the period stated.
10.4 Published fee rates are exclusive of Goods and Services Tax, which is charged in addition where applicable.
11.1 You are responsible for your own tax affairs. We do not provide tax advice.
11.2 Tax deducted at source. Where required, we deduct tax at source on transfers of virtual digital assets and remit it to the Government of India. This obligation arises under section 393(1) of the Income-tax Act, 2025 and, for periods before 1 April 2026, arose under section 194S of the Income-tax Act, 1961, in each case read with the applicable rules and circulars. You authorise us to make the deduction and to report it.
11.3 Where tax is required to be deducted in kind, we may convert the withheld asset in order to remit the amount due, in the manner required by the applicable circular.
11.4 If you do not furnish a valid Permanent Account Number, tax is deducted at the higher rate prescribed.
12.1 You must not use the Platform:
- for money laundering, terrorist financing, fraud, tax evasion, or any other unlawful purpose;
- to manipulate the market, including by wash trading, spoofing, layering, or trading against yourself;
- to interfere with the operation, integrity or security of the Platform;
- for automated access other than through our published API and on its terms; or
- in breach of any Applicable Law.
12.2 You must not permit any other person to use your Account, or transact on behalf of any person you have not disclosed to us.
12.3 You represent, each time you transact, that the assets and funds you use are your own and derive from a lawful source.
13.1 We may suspend, restrict or terminate your access to the Services, block a transaction, or place a hold on all or part of a balance, where:
- we reasonably suspect fraud, market abuse or unlawful conduct;
- you are in breach of these Terms;
- it is necessary to maintain an orderly market or to protect other customers;
- we are required to do so by Applicable Law or by a direction from a court, regulator or law-enforcement agency; or
- a security incident has occurred or is likely to occur.
13.2 We will not exercise these rights unreasonably. Where we act, we will act proportionately and for no longer than is necessary.
13.3 Law-enforcement holds
13.3.1 We may place a hold on all or part of your balance where we receive a request or direction through the National Cybercrime Reporting Portal (NCRP), the Citizen Financial Cyber Fraud Reporting and Management System (CFCFRMS) operated by the Indian Cybercrime Coordination Centre (I4C), from a law-enforcement agency under section 106 of the Bharatiya Nagarik Suraksha Sanhita, 2023, under the Prevention of Money Laundering Act, 2002, or from a banking partner acting on such a direction.
13.3.2 A hold means that the affected amount cannot be traded or withdrawn. It does not transfer ownership of the amount to us or to any other person. We will not appropriate or forfeit assets subject to a hold. We will release them, or remit them, only in accordance with a lawful direction or on release of the hold.
13.3.3 We will inform you that a hold has been placed, the amount affected, and the general nature of the reason, unless we are prohibited from doing so by Applicable Law or by the terms of the direction.
13.3.4 You may ask us to review a hold, and you may provide an explanation or supporting evidence. Where you satisfy us, and where we are not prevented from doing so, we will release the hold and inform you.
13.3.5 Law-enforcement, regulatory and statutory agencies may contact our Nodal Officer at [email protected]
14.1 You must inform us immediately if you suspect that your Account has been compromised. We will act promptly to secure it.
14.2 We maintain security and compliance controls appropriate to the nature of the Services.
15.1 The Risk Disclosure Statement forms part of these Terms and requires separate acknowledgement. You must read it before you trade. Additional risk disclosures apply to Contracts under Addendum D and require separate acknowledgement.
15.2 Without limiting the Risk Disclosure Statement: virtual digital assets are volatile and you may lose the entire value of your investment; they are not regulated in India and you have the benefit of no regulatory protection or compensation scheme; markets may become illiquid; blockchain transactions are irreversible; and the legal, regulatory and tax treatment of these assets is subject to change.
16.1 Nothing in these Terms excludes or limits liability for fraud, for wilful misconduct, for death or personal injury caused by negligence, or for any other liability which cannot lawfully be excluded or limited.
16.2 Subject to clause 16.1, we are not liable for:
- indirect, incidental, special, consequential or punitive loss;
- loss of profit, revenue, business, opportunity, goodwill or data;
- any loss arising from market volatility, illiquidity, or the acts or omissions of third parties (including custody service providers, banks, blockchain networks or other exchanges);
- any loss arising from cyberattack, security breach or force majeure, except to the extent caused by our fraud, wilful misconduct or gross negligence.
16.3 Subject to clause 16.1, our aggregate liability to you under or in connection with these Terms is limited to the total fees paid by you to us in the six months immediately preceding the event giving rise to the claim.
16.4 You agree that the limitations in this clause 16 are reasonable and form an essential basis of the bargain between us.
17.1 All intellectual property in the Platform, including the Giottus name and marks, software, content, design and data, belongs to us or our licensors. Nothing in these Terms transfers any of it to you.
17.2 We grant you a limited, personal, non-exclusive, non-transferable, revocable licence to use the Platform for your own use in accordance with these Terms.
17.3 You must not copy, modify, reverse-engineer, scrape, or create derivative works from any part of the Platform, except to the extent Applicable Law does not permit that restriction.
18.1 We process your personal data in accordance with our Privacy Policy and the Digital Personal Data Protection Act, 2023.
19.1 We communicate with you by email to your registered address, by in-app notification, by SMS to your registered mobile number, and by publication on the Platform.
19.2 It is your responsibility to keep your contact details current and to read communications we send. A notice sent to your registered email address is treated as received.
19.3 You may contact us at [email protected]
19.4 If you have any complaints or concerns regarding these Terms or any content on the Platform, you may contact the designated Grievance Officer at:
Grievance Officer
+91 78248 78248
20.1 We may amend these Terms at any time. We may notify you of material changes by email to your registered address and by in-app notification or by a notice on the Platform. Your continued use of the Platform constitutes your acceptance of the changes. If you do not agree to the amended Terms you must stop using the Platform and close your Account. We may make non-material or operational changes without prior notice.
21.1 You may close your Account at any time. We will return your assets, less any amounts properly due to us, subject to clause 13 and to the closing out of any open positions.
21.2 On closure we will return your assets within 30 days either as the Digital Assets or by converting them to INR at prevalent market price.
21.3 Clauses which by their nature survive termination continue in effect.
22.1 The Terms are governed by the laws of India.
22.2 In case of any claims, controversies or disputes relating to the Terms (including any question regarding their existence, validity, termination, or any services or products provided, and any representations made by us) or any other claims involving you and Giottus ("Claim(s)"), the User and Giottus shall first give each other a reasonable opportunity to resolve the Claims by mutual negotiation in good faith. If the Claim is not resolved by mutual understanding within 10 working days of receiving the Claim (or such shorter period as may be mutually agreed), either Party may seek relief in accordance with the Clause 22.3 below.
22.3 You and Giottus agree to resolve any Claims through final and binding arbitration administered under the Arbitration Rules of the Madras High Court Arbitration Centre (or any successor institution). The arbitration tribunal shall consist of a sole arbitrator. The language of the arbitration shall be English. The seat and venue of arbitration shall be Chennai. The law governing the arbitration shall be the laws of India. The Parties shall bear the costs of the arbitrator and the venue equally unless the tribunal orders otherwise.
22.4 Subject to Clause 22.2 & 22.3, courts at Chennai (or such higher courts where an appeal may statutorily reside), shall have exclusive jurisdiction over the Claims.
22.5 You shall keep all aspects of the dispute or arbitration proceedings, including but not limited to the award of the arbitrator and compliance therewith, strictly confidential unless otherwise required by law. This paragraph shall not prevent a party from submitting to a court of law, any information necessary to enforce the Terms, to enforce an arbitration award, or to seek injunctive or equitable relief.
22.6 A person who has not created an Account or not availed any Services by registering a User Account in their own name shall have no right to enforce the Terms.
23.1 No trust, agency or fiduciary relationship is created by these Terms, except for the limited authorised-agent appointment at clause 5.4.2 in respect of INR balances. Your rights in respect of all assets are purely contractual as set out in clause 5.
23.2 If any provision of these Terms is held to be unenforceable, the remainder continues in effect.
23.3 We may assign these Terms to a group company or in connection with a corporate transaction. You may not assign your rights or obligations under them.
23.4 No failure or delay by us in exercising a right operates as a waiver of it.
23.5 These Terms constitute the entire agreement between you and us in respect of the Services.
23.6 You shall indemnify, defend and hold harmless Giottus, its directors, officers, employees and agents from and against any and all claims, losses, damages, costs and expenses (including reasonable legal fees) arising out of or in connection with:
- your breach of these Terms or of Applicable Law;
- any false, inaccurate or incomplete information provided by you;
- any claim by a third party arising from your use of the Platform or the assets in your Account;
- any regulatory, law-enforcement or tax action caused by your conduct.
23.7 Force Majeure. We shall not be liable for any failure or delay in performing our obligations under these Terms if such failure or delay results from circumstances beyond our reasonable control, including but not limited to acts of God, natural disasters, war, terrorism, riots, embargoes, acts of civil or military authorities, fire, floods, accidents, epidemic, pandemic, strikes, shortages of transportation, facilities, fuel, energy, labour or materials, failure of telecommunications or internet infrastructure, blockchain network failures, cyberattacks, or actions of any government or regulatory authority (including banking channel restrictions).
A1 Fixed Rewards allows you to commit supported Digital Assets ("Committed Assets") for a fixed period (a "Commitment Period") in return for a reward at a rate published before you commit.
A2 The maximum Commitment Period is one (1) year. Reward rates are published on the Platform and are fixed for the Commitment Period once you commit.
A3 Committed Assets cannot be traded, withdrawn or used for any other Service during the Commitment Period.
A4 Rewards are credited at the frequency stated on the Platform at the time of commitment. Committed Assets are returned to your Digital Asset Wallet at the end of the Commitment Period unless you re-commit them.
A5 Early exit is not permitted except as expressly stated on the Platform at the time of commitment. Any early-exit terms (including penalties) will be disclosed before you commit.
A6 Committed Assets remain subject to clause 5 in full. In particular, Giottus may use, lend, stake or rehypothecate the Committed Assets and retains all yields generated from such use.
B1 The OTC desk provides bilateral execution for larger transactions at a price quoted by us.
B2 A quote is valid only for the period stated and lapses if it is not accepted within that period.
B3 Settlement takes place within Giottus platform
B4 OTC transactions are subject to enhanced due diligence, including verification of source of funds and source of wealth.
C1 Staking is opt-in. You participate only by selecting specific Digital Assets to stake through your Account. Holding a stakeable asset does not by itself stake it and does not constitute consent to stake it.
C2 We remit to you the stated percentage of the rewards we receive from the protocol, less our staking fee. The applicable percentage, the methodology by which it is determined, and the timing of remittance are subject to change every month and will be published on the Platform.
C3 Lock-up. Staking may be subject to a minimum commitment period and to protocol unbonding periods. Your right to withdraw staked assets is suspended for the duration of any such period. We will tell you the applicable periods before you stake.
C4 A protocol may impose a slashing penalty which may be deducted from the principal staked. You bear the full risk of any slashing.
C5 Staked assets remain subject to clause 5 in full.
> This Addendum governs a high-risk leveraged product. The Derivatives Risk Disclosure Statement forms part of these Terms and requires separate acknowledgement before you may trade.
D1 What you are trading
D1.1 A perpetual futures contract (a "Contract") is a derivative. It tracks the price of an underlying asset. You do not own, and acquire no right in, the underlying asset.
D1.2 Contracts have no expiry date.
D1.3 Contracts are not traded on a recognised stock exchange, are not securities, are not regulated by the Securities and Exchange Board of India or the Reserve Bank of India, and are not covered by any investor protection or compensation scheme.
D2 Eligibility
D2.1 We may impose or vary eligibility requirements, and may require you to reduce or close positions if you cease to satisfy them.
D3 Margin
D3.1 You must post initial margin to open a position and maintain maintenance margin to keep it open.
D3.2 We may vary margin requirements, leverage limits, risk limits and contract specifications at any time, including in respect of positions already open, where market conditions, volatility, liquidity or risk management require it. We will give as much notice as is practicable, which in fast-moving markets may be none.
D4 There is no margin call
D4.1 We are not required to notify you before liquidating a position, and we will not do so. Liquidation is automatic and occurs within seconds of the maintenance margin threshold being breached.
D4.2 The Platform may display a liquidation warning. A warning is informational only. It is not a margin call, it is not a prediction, and the absence of a warning does not mean that you will not be liquidated.
D4.3 Monitoring your positions and your margin is your responsibility.
D4.4 We will notify you after a liquidation has completed, with details of the action taken.
D5 Liquidation
D5.1 You authorise us, without notice and without your further consent, to close out, liquidate, reduce, offset or settle any or all of your open positions, in whole or in part, where your margin falls below the maintenance requirement.
D5.2 Liquidation is triggered when the Mark price breaches the liquidation price for the position.
D5.3 We do not guarantee the price at which a position is liquidated. In fast-moving or illiquid markets the execution price may be materially worse than the price at which liquidation was triggered.
D5.4 During liquidation you will not be able to close positions, cancel orders or place new orders.
D6 Liquidation fee
D6.1 A liquidation fee is charged on liquidation. It is a fee for the service of managing the liquidation, and Goods and Services Tax applies to it.
D7 Funding
D7.1 A funding payment is exchanged between holders of long and short positions at regular intervals (currently every few hours). The exact interval and calculation methodology are published on the Platform and may be changed by us.
D8 Index price and mark price
D8.1 Contracts are priced, and liquidations are triggered, by reference to an index price derived from a third party exchange that we use for liquidity.
D8.2 We depend on third-party venues for reference pricing, liquidity and funding rates. If a constituent source becomes unavailable, halts trading, delists an asset, or changes its methodology, we may substitute a source, adjust the calculation, halt trading in the affected Contract, or close positions.
D8.3 We may change the index constituents or the mark price methodology, giving as much notice as is practicable.
D9 Market disruption
D9.1 We may halt trading, cancel orders, adjust or annul trades, vary price bands, or close positions where there is a market disruption, an oracle or data-feed failure, extreme volatility, a settlement failure, or the failure of a third-party venue.
D10 Position limits
D10.1 We may impose limits on position size, leverage and aggregate exposure, both per Account and in aggregate, and may vary those limits.
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