Terms of Service

1. Acceptance of Terms

These Terms of Service ("Terms") form a binding contract between you and Alpha Studios LLC ("Alpha Studios," "we," "us," or "our") and govern your access to and use of the Alpha mobile application, websites at tryalpha.xyz and any subdomains, and all related services, features, and content (collectively, the "Service").

By creating an account, downloading, installing, accessing, or using the Service, you confirm that you have read, understood, and agreed to be bound by these Terms and our Privacy Policy. If you do not agree, do not use the Service.

2. Eligibility

To use the Service you must:

• be of the legal age of majority in your jurisdiction (and in any case at least 13 years old, with verifiable consent of a parent or legal guardian if you are under the age of majority);
• have the legal capacity to enter into these Terms;
• not be a resident or located in a country, territory, or region subject to comprehensive U.S. economic sanctions (currently including, without limitation, Cuba, Iran, North Korea, Syria, the Crimea, so-called Donetsk People's Republic and Luhansk People's Republic regions of Ukraine, and any country added by OFAC);
• not be listed on any U.S., U.K., EU, or U.N. consolidated sanctions list, including the U.S. Treasury Department's Office of Foreign Assets Control ("OFAC") Specially Designated Nationals List;
• not be barred from using the Service under applicable law.

Certain features (including, without limitation, perpetual futures trading) are subject to additional geographic restrictions described in Section 9. You are solely responsible for determining whether your use of the Service is lawful in your jurisdiction.

3. Definitions

• "Wallet" means a non-custodial cryptocurrency wallet whose private keys are managed in hardware-backed trusted execution environments by Turnkey, Inc. ("Turnkey") on your behalf.
• "Digital Assets" means cryptocurrencies, tokens, and other blockchain-native assets accessible through the Service.
• "Spot Trading" means swapping one Digital Asset for another via decentralized exchanges or aggregators routed through the Service.
• "Perpetual Contracts" or "Perps" means non-expiring leveraged derivative contracts offered through the Hyperliquid protocol and accessed via the Service.
• "AI Features" means the in-app artificial intelligence assistant and any related capabilities.
• "Algo Wallet" or "Strategy" means a user-authored automation that produces proposed trade intents based on rules you define.
• "Third-Party Service" means any service operated by a party other than Alpha Studios that the Service interoperates with, including but not limited to Turnkey, Hyperliquid, Helius, Codex, Relay, Jupiter, Anthropic, MoonPay, Coinbase, and the underlying public blockchain networks.

4. The Service — What Alpha Is and Is Not

Alpha is a software interface that lets you create and use non-custodial Wallets, view market data, and submit transactions to public blockchains and supported decentralized protocols. We provide the user interface, routing logic, and convenience features (charts, search, portfolio analytics, AI Features, Algo Wallets, notifications). We do not:

• hold, control, or have access to your Digital Assets or private keys;
• operate as a broker, dealer, money transmitter, exchange, custodian, or investment adviser;
• execute trades on your behalf or as principal — every transaction is signed by you (or by Turnkey under a policy you authorize) and broadcast to a public blockchain;
• guarantee execution price, liquidity, or that any third-party protocol will function as expected;
• provide investment, financial, legal, tax, or accounting advice (see Section 14).

Trades, deposits, withdrawals, and other on-chain activity are executed by smart contracts on public blockchains and are immutable and irreversible. Once a transaction is confirmed on-chain, neither Alpha Studios nor any third party can reverse, refund, or modify it.

5. Self-Custody and Wallet Management

Wallets created or imported through Alpha are non-custodial. Private keys are generated and held by Turnkey within FIPS 140-2 Level 3 hardware-backed trusted execution environments. Alpha Studios holds only an API credential scoped to a policy you authorize when you log in or approve an action. We do not have, and cannot obtain, custody of your private keys or your Digital Assets.

This has consequences:

• We cannot freeze, seize, transfer, or recover your assets, even at your request or by court order.
• If you lose access to your authentication factors (email, passkey, biometrics, recovery method) and have not separately exported your wallet, you may permanently lose access to your assets.
• If you export a wallet (seed phrase, private key) and disclose it to anyone, that party can take your assets. We will never ask you to share your seed phrase or private keys, and any party who does is attempting to defraud you.
• Sending Digital Assets to an incorrect address, an unsupported chain, or a malicious contract may result in permanent loss. You are solely responsible for verifying transaction details before signing.

6. Account and Authentication

Creating an account requires a working email address. You may secure your account with a passkey (WebAuthn) and device biometrics (Face ID, Touch ID, or platform equivalent). You are responsible for:

• maintaining access to the email address registered to your account;
• protecting your device and authentication factors from unauthorized access;
• all activity that occurs under your account, whether or not authorized by you;
• promptly notifying us at security@tryalpha.xyz if you suspect your account has been compromised.

You may not share, transfer, or sell your account. Each account is for use by a single individual.

7. Spot Trading

Spot trades route through decentralized exchanges, aggregators, and bridges (collectively, "DEX Routing Partners"). When you submit a trade, the Service requests a quote from one or more DEX Routing Partners, presents the resulting route to you, and — only after you confirm — instructs Turnkey to sign a transaction with your authorization. The transaction is then broadcast to the underlying blockchain.

You acknowledge that:

• quotes are estimates and the executed price may differ due to slippage, MEV, network congestion, or price movement between quote and execution;
• transactions may fail, revert, or be partially filled, and you remain liable for any network fees ("gas") incurred regardless of outcome;
• DEX Routing Partners are independent third parties whose terms govern your interaction with their protocols; we do not control their availability, pricing, or behavior.

8. Perpetual Contracts

Perpetual Contracts are accessed through the Hyperliquid protocol. They are leveraged derivative instruments that carry substantial risk. By using Perps you acknowledge and accept that:

• Leverage amplifies losses. A small adverse price movement can result in the total loss of your collateral. In extreme conditions (e.g., market gaps, oracle failures, or insurance-fund depletion), profitable positions may be auto-deleveraged ("ADL") by the protocol to absorb shortfalls from insolvent positions.
• Liquidation is automatic. If your margin falls below the maintenance level, your position will be liquidated by the Hyperliquid protocol, often without further notice. Liquidation may occur during periods of high volatility, low liquidity, or oracle disruption.
• Funding rates apply. Holding a position incurs periodic funding payments that may be positive or negative.
• We do not operate the venue. Hyperliquid is an independent protocol. We do not control its matching engine, oracles, insurance fund, or risk parameters.
• Markets may be unavailable. Specific markets, oracle sources, or protocol features may be paused, delisted, or modified at the discretion of the venue operator without notice.

9. Geographic Restrictions

Certain features of the Service — including, without limitation, Perpetual Contracts and certain spot pairs, regions, or asset categories — are not available in all jurisdictions. The Service determines availability based on signals including IP address and other technical indicators. Where a feature is restricted in your detected jurisdiction, it will be disabled in the Service.

You agree not to use any technical means (VPN, proxy, falsified location, false account information, or otherwise) to circumvent geographic restrictions. You represent that any feature you access is lawful in your jurisdiction. Restricted features may change at any time; access on a previous day is not a representation that access remains permitted.

10. AI Features

The Service includes AI-powered features that can answer questions about markets, summarize on-chain activity, and propose trades or other actions for your review. AI Features are powered by third-party large language models, including models operated by Anthropic, PBC.

You acknowledge and agree that:

• AI output is informational only and may be wrong. AI models can produce inaccurate, outdated, biased, or misleading information ("hallucinations"). You must independently verify any output before acting on it.
• AI Features do not auto-execute. When AI suggests a trade or other on-chain action, the Service presents it as a proposal that requires your explicit confirmation. No transaction is signed without an action initiated by you.
• AI output is not financial, investment, legal, or tax advice.
• Your prompts may be sent to third-party AI providers. We may transmit your queries, conversation context, and limited identifying metadata to those providers solely to generate a response. See our Privacy Policy for details.
• You will not use AI Features to generate content that violates these Terms, applicable law, or the rights of others, or to attempt to extract proprietary system instructions.

11. Algo Wallets and Strategies

Algo Wallets allow you to author automations ("Strategies") that produce proposed trade intents based on rules you define. Strategies are executed by you, on your behalf, through a Turnkey policy you authorize and may revoke at any time.

• You are responsible for your Strategies. You are solely responsible for the logic, parameters, risk limits, and outcomes of any Strategy you create, run, share, or import. We do not review or audit user Strategies for correctness, profitability, or fitness for any purpose.
• Strategies can lose money quickly. Automated trading can produce significant losses, especially in volatile or illiquid markets, during outages, or when assumptions encoded in your Strategy do not hold.
• Strategies do not bypass risk controls. Risk limits you set and venue-level limits enforced by venues such as Hyperliquid still apply.
• Manual actions take precedence. Trades you execute manually consume your inventory before Strategy-allocated inventory.
• Backtests are not predictions. Backtest, paper-trading, and historical performance results do not represent actual results, do not account for all real-world factors (slippage, fees, latency, liquidity, market impact), and are not indicative of future performance.

12. Third-Party Services

The Service depends on and interoperates with Third-Party Services, including (without limitation): Turnkey (key custody and signing); Hyperliquid (perpetual contracts); Helius, Codex, Relay, and Jupiter (data and routing); Anthropic (AI); MoonPay and Coinbase (fiat-to-crypto onramp); Apple Push Notification service; and the public blockchain networks themselves.

Your use of any Third-Party Service is subject to that party's separate terms and privacy policy. We are not responsible for the availability, accuracy, content, fees, or actions of any Third-Party Service. Outages, exploits, governance changes, oracle failures, or insolvency at a Third-Party Service may cause loss of access, loss of funds, or other harm. We do not indemnify you against, and are not liable for, losses arising from Third-Party Services.

13. Fees, Gas, and Taxes

The Service may charge fees for certain transactions, expressed as a spread, a percentage, a fixed amount, or a combination. Applicable fees will be disclosed prior to your confirmation of a transaction. We may change our fees at any time on a prospective basis.

Blockchain transactions also incur network fees ("gas") payable to validators or block producers, and Third-Party Services may charge their own fees (e.g., funding payments on Perps, swap fees on DEXs, processing fees on fiat onramps). All such fees are paid by you and are non-refundable, including for failed or reverted transactions.

You are solely responsible for determining what taxes apply to your activity on the Service and for reporting and paying them to the appropriate authorities. We do not provide tax advice and do not collect or remit taxes on your behalf.

14. No Financial, Legal, or Tax Advice

All content in the Service — including market data, charts, prices, sparklines, news, AI output, social or "smart money" feeds, screeners, alerts, and analytics — is provided for informational purposes only and does not constitute financial, investment, legal, accounting, or tax advice, an offer or solicitation to buy or sell any asset, or a recommendation of any kind. You should consult licensed professionals before making decisions involving Digital Assets, leverage, or other financial instruments.

15. Risks

Using Digital Assets involves substantial risk. By using the Service you accept these risks, including (without limitation):

• Market risk: Digital Asset prices are volatile and can fall to zero.
• Liquidity risk: Markets may become illiquid, preventing you from closing a position at a reasonable price.
• Smart contract risk: Bugs, exploits, or governance attacks on protocols you interact with may result in loss.
• Counterparty risk: Centralized venues, custodians, and onramps may fail, become insolvent, or be sanctioned.
• Bridge risk: Cross-chain bridges have historically been a frequent target of exploits.
• Network risk: Blockchains can fork, halt, censor transactions, or experience deep reorgs.
• Operational risk: Outages, software defects, or third-party failures may cause delays, missed liquidations, or stale data.
• Regulatory risk: Laws and regulations applicable to Digital Assets evolve rapidly and may restrict or prohibit your activity.
• Tax risk: Tax treatment of Digital Asset activity is complex and may change.
• Phishing and social engineering: Bad actors impersonate Alpha and other services to steal funds.

Digital Assets held in your Wallet are not deposits, are not insured by the FDIC, SIPC, or any government deposit insurance scheme, and may decline in value or become worthless.

16. Prohibited Uses

You agree that you will not, and will not permit any third party to:

• use the Service in violation of any applicable law, regulation, or sanctions program;
• use the Service to engage in money laundering, terrorism financing, fraud, market manipulation (including wash trading, spoofing, layering, or pump-and-dump schemes), insider trading, or any other illegal activity;
• use the Service to interact with a Wallet or address known to you to be controlled by a sanctioned person, mixing service, or to have received funds from a hack, exploit, or theft;
• circumvent or attempt to circumvent any geographic restriction, rate limit, security measure, or access control;
• access or use the Service through automated means (other than the Algo Wallet feature used as documented), including scraping, harvesting, or automated account creation;
• reverse engineer, decompile, or disassemble the Service, or attempt to extract proprietary information, except to the extent expressly permitted by law;
• introduce malware, viruses, or other harmful code into the Service or use it to attack any system;
• impersonate any person or entity or misrepresent your affiliation;
• infringe the intellectual property, privacy, or other rights of any party.

17. Intellectual Property; License

The Service, including its software, design, brand, documentation, and content (other than your Digital Assets, Wallet contents, and your own user content) is owned by Alpha Studios and its licensors and is protected by intellectual property and other laws. Subject to your compliance with these Terms, we grant you a limited, personal, non-exclusive, non-transferable, non-sublicensable, revocable license to use the Service for your own personal, non-commercial use. All rights not expressly granted are reserved.

Any feedback or suggestions you provide may be used by us without restriction or compensation.

18. Service Availability and Modifications

We strive for continuous availability but do not guarantee uninterrupted, secure, error-free, or virus-free operation. We may modify, suspend, or discontinue all or any part of the Service at any time, with or without notice, and may impose limits on certain features or restrict your access without liability. We may add, remove, or modify supported chains, markets, providers, fees, and features without notice.

19. Disclaimers

THE SERVICE IS PROVIDED "AS IS" AND "AS AVAILABLE," WITH ALL FAULTS AND WITHOUT WARRANTY OF ANY KIND. TO THE MAXIMUM EXTENT PERMITTED BY LAW, ALPHA STUDIOS AND ITS AFFILIATES, MEMBERS, OFFICERS, EMPLOYEES, AGENTS, LICENSORS, AND SUPPLIERS DISCLAIM ALL WARRANTIES, EXPRESS, IMPLIED, OR STATUTORY, INCLUDING (WITHOUT LIMITATION) WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT, TITLE, ACCURACY, AND ANY WARRANTY ARISING OUT OF COURSE OF DEALING OR USAGE OF TRADE.

WE DO NOT WARRANT THAT THE SERVICE WILL MEET YOUR REQUIREMENTS, OPERATE WITHOUT INTERRUPTION OR ERROR, BE FREE OF SECURITY VULNERABILITIES, OR THAT ANY DEFECT WILL BE CORRECTED. WE DO NOT WARRANT THE ACCURACY, COMPLETENESS, OR TIMELINESS OF ANY INFORMATION, MARKET DATA, AI OUTPUT, OR THIRD-PARTY CONTENT.

20. No Liability for Loss of Digital Assets

Alpha Studios is a software interface. We do not custody, control, or have access to your Digital Assets, your private keys, or your seed phrase, and we have no ability to move, freeze, recover, or reverse transactions involving your Digital Assets. Any acquisition, disposition, transfer, signing, or loss of Digital Assets occurs through your interaction with public blockchains, smart contracts, decentralized protocols, and Third-Party Services, none of which are operated or controlled by Alpha Studios.

Accordingly, you agree that Alpha Studios is not responsible or liable for any loss of, damage to, or inability to access your Digital Assets, regardless of cause, including (without limitation): your loss or compromise of authentication factors, devices, or recovery materials; your sending Digital Assets to an incorrect, unsupported, or malicious address or contract; phishing, social-engineering, or device-level compromise; smart-contract bugs, exploits, governance attacks, or oracle failures; bridge or cross-chain failures; venue insolvency, sanction, halt, or liquidation (including liquidations of Perpetual Contracts on Hyperliquid or any other venue); blockchain forks, halts, censorship, reorgs, or congestion; AI Output that turns out to be inaccurate; outcomes of Strategies you author or import; outages or actions of any Third-Party Service; or your decision to act, or not to act, on information surfaced by the Service. Your sole recourse for any such loss is against the relevant counterparty, protocol, or Third-Party Service, not Alpha Studios.

21. Limitation of Liability

TO THE MAXIMUM EXTENT PERMITTED BY LAW, IN NO EVENT WILL ALPHA STUDIOS OR ITS AFFILIATES, MEMBERS, OFFICERS, EMPLOYEES, AGENTS, LICENSORS, OR SUPPLIERS BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, EXEMPLARY, OR PUNITIVE DAMAGES, OR FOR ANY LOSS OF PROFITS, REVENUE, DATA, GOODWILL, REPUTATION, USE, DIGITAL ASSETS, COST OF SUBSTITUTE SERVICES, OR OTHER INTANGIBLE OR ECONOMIC LOSSES, ARISING OUT OF OR RELATING TO YOUR USE OF, OR INABILITY TO USE, THE SERVICE, WHETHER BASED ON CONTRACT, TORT (INCLUDING NEGLIGENCE), STRICT LIABILITY, OR ANY OTHER LEGAL THEORY, AND WHETHER OR NOT WE HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

IN ALL EVENTS, OUR TOTAL CUMULATIVE LIABILITY TO YOU FOR ANY AND ALL CLAIMS ARISING OUT OF OR RELATING TO THE SERVICE OR THESE TERMS WILL NOT EXCEED ONE HUNDRED U.S. DOLLARS (US$100) IN THE AGGREGATE. MULTIPLE CLAIMS DO NOT ENLARGE THIS LIMIT. THIS CAP REFLECTS THE NON-CUSTODIAL NATURE OF THE SERVICE AND THE FACT THAT ALPHA STUDIOS DOES NOT HOLD, CONTROL, OR HAVE ACCESS TO YOUR DIGITAL ASSETS.

THE EXCLUSIONS AND LIMITATIONS IN SECTIONS 19, 20, AND 21 ARE FUNDAMENTAL ELEMENTS OF THE BASIS OF THE BARGAIN BETWEEN YOU AND ALPHA STUDIOS. SOME JURISDICTIONS DO NOT ALLOW THE EXCLUSION OR LIMITATION OF CERTAIN DAMAGES; IN SUCH JURISDICTIONS, THE FOREGOING LIMITATIONS APPLY TO THE FULLEST EXTENT PERMITTED BY LAW, AND THE REMAINING TERMS REMAIN IN FULL FORCE.

22. Indemnification

You agree to defend, indemnify, and hold harmless Alpha Studios and its affiliates, officers, employees, agents, licensors, and suppliers from and against any claims, liabilities, damages, losses, and expenses (including reasonable attorneys' fees) arising out of or relating to: (a) your use of the Service; (b) your violation of these Terms; (c) your violation of any law or any right of a third party; (d) your Digital Assets, Wallets, Strategies, or transactions; or (e) your tax obligations.

23. Dispute Resolution; Binding Arbitration; Class Waiver

Please read this section carefully — it affects your legal rights.

Informal resolution. Before filing a claim, you agree to attempt to resolve the dispute informally by contacting us at legal@tryalpha.xyz with a description of the dispute and the relief you seek. We will attempt in good faith to resolve the dispute within sixty (60) days of receipt.

Binding arbitration. If we cannot resolve the dispute informally, you and Alpha Studios agree that any dispute, claim, or controversy arising out of or relating to these Terms or the Service will be resolved exclusively by final and binding individual arbitration administered by the American Arbitration Association ("AAA") under its Consumer Arbitration Rules then in effect. The arbitration will be conducted in the English language. Unless we agree otherwise, the seat of arbitration will be Wilmington, Delaware. Judgment on the award may be entered in any court of competent jurisdiction.

Class action waiver. YOU AND ALPHA STUDIOS AGREE THAT EACH MAY BRING CLAIMS AGAINST THE OTHER ONLY IN AN INDIVIDUAL CAPACITY AND NOT AS A PLAINTIFF OR CLASS MEMBER IN ANY PURPORTED CLASS, COLLECTIVE, OR REPRESENTATIVE PROCEEDING. The arbitrator may not consolidate more than one person's claims and may not preside over any form of representative or class proceeding.

Exceptions. Either party may bring a claim in small-claims court that qualifies for that court, and either party may seek injunctive or equitable relief in court for actual or threatened infringement, misappropriation, or violation of intellectual property rights or unauthorized access to the Service.

Opt-out. You may opt out of the arbitration agreement and class-action waiver by sending a written notice to legal@tryalpha.xyz within thirty (30) days of first accepting these Terms, identifying yourself by name and account email and stating clearly that you opt out. Opting out does not affect any other portion of these Terms.

24. Governing Law

These Terms and any dispute arising out of or relating to them or the Service will be governed by and construed in accordance with the laws of the State of Delaware, without regard to its conflict-of-laws principles, and, to the extent applicable, the U.S. Federal Arbitration Act. Subject to Section 23, the state and federal courts located in Wilmington, Delaware will have exclusive jurisdiction over any matter not subject to arbitration.

25. Modifications to These Terms

We may modify these Terms at any time by posting an updated version with a new "Last updated" date. For material changes, we will provide reasonable advance notice through the Service or by email to the address registered to your account. Your continued use of the Service after the effective date of an updated version constitutes your acceptance of the updated Terms. If you do not agree, you must stop using the Service.

26. Termination

You may stop using the Service and delete your account at any time through the in-app settings or by contacting us. We may suspend or terminate your access to the Service immediately, without notice, if we believe you have violated these Terms, applicable law, or if necessary to protect the security or integrity of the Service.

Termination does not, by itself, transfer custody of your Digital Assets — because we never had custody. You remain responsible for managing your Wallets and any positions you have opened on Third-Party Services.

Sections 4, 5, 12, 13, 14, 15, 16, 17, 19, 20, 21, 22, 23, 24, 25, 26, 27, and 28 survive termination.

27. Miscellaneous

• Entire agreement. These Terms and the Privacy Policy constitute the entire agreement between you and Alpha Studios regarding the Service and supersede any prior agreements.
• Severability. If any provision is held unenforceable, the remaining provisions remain in full force.
• No waiver. Our failure to enforce any provision is not a waiver of our right to do so later.
• Assignment. You may not assign or transfer these Terms or your account without our prior written consent. We may assign these Terms without restriction.
• Headings. Section headings are for convenience and do not affect interpretation.
• Force majeure. Neither party is liable for any failure or delay caused by events beyond its reasonable control, including network or blockchain outages, governmental action, or natural disasters.
• No third-party beneficiaries. Except for Alpha Studios's affiliates expressly indemnified above, these Terms create no third-party beneficiary rights.
• Notices. We may give you notice through the Service or by email to the address registered to your account. You may give us notice at legal@tryalpha.xyz.

28. Contact

Alpha Studios LLC
General: hello@tryalpha.xyz
Legal: legal@tryalpha.xyz
Security: security@tryalpha.xyz
Privacy: privacy@tryalpha.xyz