Eligibility & legal

This page is a summary, not the terms

HardBasis is on testnet, and the formal terms of service and program terms are in preparation with counsel. The blocks marked below are placeholders — accurate statements of current policy, but not the documents that will govern the service. Nothing here is legal advice, an offer, or a solicitation.

Testnet

The venue you can use today runs on testnet. Test sats have no value. Balances, positions, and referral state may be reset without notice, and referral state starts over when the production venue opens. Nothing you accumulate on testnet carries a claim to anything of value.

Who can use HardBasis

No US persons. HardBasis does not accept US persons and is not directed at the United States. Account creation is refused from the United States, and the marketing terms forbid partners from directing promotion there or from coaching anyone around the restriction.

Sanctioned jurisdictions. Account creation is refused from comprehensively sanctioned jurisdictions, and names are screened against published sanctions lists at signup and on deposit. Where a deposit hits a sanctions match, the funds are held pending review rather than credited or returned — a hold, not a determination.

Anonymising infrastructure. Signups from known VPN and datacentre exit ranges are refused, as are signups whose declared and observed jurisdictions contradict each other.

These controls sit at account creation and deposit. They are never applied to withdrawals: withdrawing free balance works in every mode, always.

Referral and partner programs

Current program restrictions — pending the counsel jurisdiction review

Referral incentives are regulated differently from trading, and the programs are restricted more narrowly than the venue itself:

• Refer & Earn bindings are refused for accounts in GB.
• Partner applications are refused from GB, SG.

These lists are enforced by the engine, not by a checkbox, and they are under review with counsel — the reviewed jurisdiction matrix may extend them. Where this page and the app disagree, the app is enforcing the live policy and is correct.

Program terms

Summary — formal terms to follow

Refer & Earn. Rewards accrue from taker fees actually collected on referred fills, vest after a holdback, and become claimable. An accrual is not a balance owed: it can be withheld or forfeited before it is claimed, under the abuse policy. Once claimed, sats are ordinary balance and are not clawed back. Program parameters can change, and the programs can be paused or withdrawn.

Partners. Terms are agreed per partner, versioned, and recorded. Earnings accrue from approval; payouts require screening to clear. The marketing terms — disclosure, geographic restrictions, brand-term and domain rules, no purchased signups — are summarised on the Partners page and are binding on acceptance. Partnerships can be suspended or terminated at the venue's discretion, with clawback and set-off against unsettled accruals.

The formal text of both, and of the terms of service, is with counsel. This summary describes current policy and will be replaced by the documents themselves, not amended into them.

Risk

Perpetual futures are leveraged instruments. You can lose your entire margin, and on an inverse contract a long loses at an accelerating rate as the price falls. Positions are liquidated automatically when equity falls below the maintenance requirement. Funding is charged continuously and can run against you for as long as you hold a position.

HardBasis is the counterparty to every position. Your open position is a claim on this engine, backed by the reserves published on the Proof of Reserves page — not by a clearing house.

Contact

Questions about eligibility, a partner application, or anything on this page go through the support channels in the app.