Roostoo Terms of Service
Effective Date: May 2, 2020
The Services provide software tools for users to access virtual market simulation of paper trading of mock cryptocurrency, as well as information on cryptocurrency, digital assets, coins, and other related information such as registration of account, registration of interest for any of our services or events, our messaging services, update functions, third party products (including applications, widgets, coins and tokens), and/or any other services and products provided by Roostoo whether by itself or in conjunction with other third parties (individually and collectively, our “Services”).
Roostoo is established for users who are eager to learn and further familiarize themselves with cryptocurrency trading in a safe and simulated environment.
You fully acknowledge and understand that:
- The Services do not constitute any actual trading of cryptocurrencies.
- Any amount of displayed virtual currency on the App and Website does not consist of actual dollar of value.
- Roostoo is not a registered exchange, broker, analyst, investment advisor or any kind of financial expert or advisor. All information provided is purely for informational purposes. All information contained herein should be independently verified and confirmed. We are not liable for any loss or damages whatsoever caused in reliance upon such information or services.
- Roostoo is not responsible if information made available on The Services is not accurate, complete or current. The material on this site is provided for general information only and should not be relied upon or used as the sole basis for making decisions without consulting primary, more accurate, more complete or more timely information sources. Any reliance on the material on The Services is at your own risk.
No Investment Advice
You acknowledge that:
- Roostoo does not recommend any financial product(s);
- Roostoo does not recommend that any financial product should be bought, sold or held by you; and
- Nothing on the Services should be construed as an offer, nor the solicitation of an offer, to buy or sell cryptocurrency by Roostoo
- Information which may be referred to on the Services from time to time may not be suitable for you and that you should not make any investment decision without consulting a fully qualified financial advisor.
Roostoo is not a financial advisor. Your use of the Services is at your own risk. To the maximum extent permitted by applicable law, you expressly agree that we are not providing financial advice via the Services.
Mock Trading Competitions
Mock Trading Competitions is a feature offered by Roostoo. Roostoo also provides the feature functionality for third party Partner Hosts to conduct mock trading competitions on our app and website.
Partner Host is a third party that hosts its branded mock trading competitions powered by Roostoo’s mobile app and website platform. The purpose of mock trading competitions is to enable partner hosts to engage their respective community in blockchain and cryptocurrency education. Partner Host may also host mock trading competitions as a sponsor to Roostoo.
The Partner Host has to agree terms with Roostoo in hosting the competitions. Some examples of Partner Hosts are student organizations, educational institutions, and business entities.
These competitions are in no way sponsored, endorsed or administered by, or associated with, Apple, Inc. and Google, LLC. Any questions, comments or complaints regarding the competitions should be directed to Roostoo and its affiliated Partner Hosts.
Roostoo Game Token (RSTO)
Roostoo Game Token (RSTO) is an innovative design that will become the backbone of the Roostoo ecosystem. Roostoo allows users to pay-in their RSTO to enter mock trading competitions. After each competition ends, RSTO will be distributed back to users according to their ranking on the leaderboard.
RSTO merely serves as a game point currency to reward users that perform certain activities on Roostoo. Currently, RSTO has no cash value and does not constitute your property. For more details about RSTO, please click on the RSTO page on the website.
A. Roostoo Training Ground:
Each user who signs up an account on Roostoo App or Website is automatically enrolled in Roostoo Training Ground to practice and get familiarity with mock trading on the Roostoo App.
B. Roostoo Regular Competition:
Roostoo regular competitions are open for every Roostoo user. Users will need to pay-in their RSTO game tokens to enter any Roostoo regular competition. After each competition ends, RSTO will be distributed back to users according to their ranking on the leaderboard. For the distribution mechanism, please click here.
C. Partner Host Competition:
Roostoo generates an invitation code to the Partner Host. The specific invitation code is distributed only by the Partner Host to make eligible for their targeted participants to enter the relevant competition. Roostoo will not provide any Partner Host invitation code to other general users.
To enter: Go to the “competition” tab and click on the relevant Partner Host Competition. Enter the invitation code provided by the Partner Host for the respective competition to be eligible to participate.
After the completion of each Partner Host Competition, participants can still access to the respective competition through user history. The competition will however be removed from the main page.
It is possible for Partner Hosts to offer prize promotions for their hosted competitions to incentivize participation. In such case, it is the responsibility of the Partner Host to ensure competition framework is legal and compliant to prize promotion laws in jurisdictions where the competition is operated in. Roostoo shall not be liable for any disputes between the participants and the Partner Hosts.
I. Starting Portfolio
As a default, each participant begins with mock $50000 worth of paper money available in their virtual portfolio (Note that it is not real USD, there is NO actual financial transaction in the app).
Participants will be able to start trading according to real-time market prices with the default $50000 paper money.
II. Trade Action
Participants can enter any number of trades to mock buy and sell cryptocurrencies.
To mirror real-life cryptocurrency trading, participants can choose between 2 types of trades when buying or selling a cryptocurrency.
- Market Order: Refers to the execution of the trade immediately with the current market price. Each Market Order will charge a virtual commission fee of 0.016%.
- Limit Order: Refers to the execution of the trade at a specified price set by the participant. Each Limit Order will charge a virtual commission fee of 0.012%.
The participants will be ranked according to the overall portfolio return rate during the length of the competition period.
For example, if a participant starts off with $50000 paper money and ends up with $55000 paper money in the portfolio, the portfolio return rate is ($55000 - $50000) / $50000 = 10%.
Each competition will display internal leaderboard which is updated real-time.
IV. Competition Duration
The duration of Roostoo Regular Competitions is 1-day, 3-day, and 7-day respectively.
The duration of any Partner Host Competition is decided by the respective Partner Host. Each competition period normally falls within the range of maximum 30 days.
Roostoo and the Partner Hosts reserve the right to amend the start and end date at any time.
Winners of each Partner Host Competition will be announced separately by the Partner Host. Participant ranking information will also be displayed on the leaderboard page of the Roostoo App.
Mock Trading Competition Disclaimers
- Roostoo is a software tool provider for third parties to host mock trading competitions.
- Roostoo is not a sponsor for any Partner Host contest shall there be any prize promotions.
- Roostoo does not represent any Partner Host who conducts the competitions.
- Any imagery, external link, content description and other branded material used on the mock trading competition interface are agreed and provided by the Partner Hosts.
- Roostoo and Partner Host reserve the right to cancel, terminate, modify or suspend the Mock Trading Competitions.
- Any person acting in bad faith, violating the Roostoo Terms, or abusing any aspect of the Mock Trading Competitions will be disqualified at the discretion of Roostoo and the Partner Host, and their account will be removed.
By entering the mock trading competitions, you are granting Roostoo and the Partner Hosts permission to publicize your username, your country and your Roostoo usage content for advertising and publicity purposes.
Disclaimers and Limitation of Liability
The content on the Services is strictly for informational purposes. Nothing on or in the Services shall constitute or be construed as an offering of any currency or any financial instrument or as investment advice or investment recommendations (such as recommendations as to whether to purchase a currency or instrument) by Roostoo or a recommendation as to an investment strategy by Roostoo. Content on the Services should not be considered as information sufficient to base an investment strategy upon. No content on the Services is tailored to the specific needs of any individual, entity or group of individuals. Roostoo expresses no opinion as to the future or expected value of any currency, security or other interest. Roostoo does not explicitly or implicitly recommend or suggest any investment strategy of any kind.
The content provided on the Services is submitted to Roostoo by third-party providers. Roostoo does not review all content for accuracy, does not review content for completeness or reliability, and does not warrant or guarantee the accuracy, completeness, reliability or any other aspect of any content.
The Services and the content published within the Services may include inaccuracies or errors. Roostoo does not guarantee the accuracy, completeness, timeliness, security, availability or integrity of the Services or any content, and disclaims all liability for any errors or other inaccuracies relating to the Services or the content. Roostoo makes no representations about the suitability of the Services or any content, or that the Services or content will be uninterrupted or operate in combination with any software, service, system or other data or information. The Services and all content are provided “as is” without warranty of any kind. Roostoo disclaims all warranties and conditions that this service, its servers, or any email sent from Roostoo, are free of viruses or other harmful components. Roostoo hereby disclaims all warranties and conditions with regard to the Services and the content, including all implied warranties and conditions of merchantability, fitness for a particular purpose, title, and noninfringement.
To the maximum extent permitted by applicable law, Roostoo assumes no liability or responsibility for any (i) errors, mistakes, or inaccuracies of any content; (ii) personal injury or property damage, of any nature whatsoever, resulting from your access to or use of the service; (iii) any unauthorized access to or use of our servers and/or any and all information stored therein; (iv) any interruption or cessation of transmission to or from the Services; (v) any bugs, viruses, trojan horses, or the like that may be transmitted to or through the Services by any third party; (vi) any errors or omissions in any content or for any loss or damage incurred as a result of the use of any content posted, transmitted, or otherwise made available through the Services; and (vii) the defamatory, offensive, or illegal conduct of any third party.
In no event shall Roostoo (and its respective officers, directors, employees, members, agents, partners and affiliates) be liable for any direct, indirect, punitive, incidental, special, or consequential damages or damages for lost profits, arising out of, or in any way connected with, your access to or use of the Services or with the delay or inability to access, display, or use the service; any computer viruses, information, software, linked services, products, and services obtained through the Services; or otherwise arising out of the access to or use of the Services whether based on a theory of negligence, contract, tort, strict liability, or otherwise, and even if Roostoo has been advised of the possibility of such damages. In no event shall Roostoo (and its respective officers, directors, employees, members, agents, partners and affiliates) be liable to you for any claims, proceedings, liabilities, obligations, damages, losses or costs. The limitation of liability reflects the allocation of risk between the parties. The limitations specified in this section will survive and apply even if any limited remedy specified in these terms is found to have failed of its essential purpose. The disclaimers, exclusions, and limitations of liability under this agreement will not apply to the extent prohibited by applicable law.
In addition to other prohibitions as set forth in the Terms of Service, you are prohibited from using The Services: (a) for any unlawful purpose; (b) to solicit others to perform or participate in any unlawful acts; (c) to violate any international, federal, provincial or state regulations, rules, laws, or local ordinances; (d) to infringe upon or violate our intellectual property rights or the intellectual property rights of others; (e) to harass, abuse, insult, harm, defame, slander, disparage, intimidate, or discriminate based on gender, sexual orientation, religion, ethnicity, race, age, national origin, or disability; (f) to submit false or misleading information; (g) to upload or transmit viruses or any other type of malicious code that will or may be used in any way that will affect the functionality or operation of the Service or of any related website, other websites, or the Internet; (h) to collect or track the personal information of others; (i) to spam, phish, pharm, pretext, spider, crawl, or scrape; (j) for any obscene or immoral purpose; or (k) to interfere with or circumvent the security features of the Service or any related website, other websites, or the Internet. We reserve the right to terminate your use of the Service or any related website for violating any of the prohibited uses including the use of proxy servers.
We may, but have no obligation to monitor, edit or remove content that we determine in our sole discretion are unlawful, offensive, threatening, libelous, defamatory, pornographic, obscene or otherwise objectionable or violates any party’s intellectual property or these Terms of Service.
Third Party Websites
The Services may contain links to third-party websites. Your use of all links to third-party websites is at your own risk. We do not monitor or have any control over, and make no claim or representation regarding third-party websites. To the extent such links are provided by us, they are provided only as a convenience, and a link to a third-party websites does not imply our endorsement and adoption with, such third-party websites.
When you leave the Website, whether via a link contained on the Website or through the use of your web browser or other navigational tool, the information you view is not provided by us. Our terms and policies do not govern your use of third-party websites. We are not responsible for, have no control over and do not monitor or review the content of any other website. A link to a third-party website does not imply sponsorship, approval, affiliation or endorsement by Roostoo of the linked third-party website or of that third party’s products or services.
You agree that Roostoo will not, under any circumstances, be responsible or liable, directly or indirectly, for any goods, services, information, resources and/or content available on or through any third-party website or services, for any dealings or communications you may have with third parties, or for any harm, damages or loss caused or alleged to be caused by or in connection with any of the foregoing or your use of or reliance on the materials or the content or business practices of any third party.
Modifying and Terminating our Services
We reserve the right to modify our Services or to suspend or stop providing all or portions of our Services at any time. You also have the right to stop using our Services at any time. We are not responsible for any loss or harm related to your inability to access or use our Services.
If any provision or part of a provision of these Terms is unlawful, void or unenforceable, that provision or part of the provision is deemed severable from these Terms and does not affect the validity and enforceability of any remaining provisions.
Governing Law and Jurisdiction
You agree that no joint venture, agency, partnership, or employment relationship exists between you and Roostoo and/or its affiliates as a result of these Terms or use of the Service.
In no event shall Roostoo be responsible or liable for any failure or delay in the performance of its obligations hereunder arising out of or caused by, directly or indirectly, forces beyond its control, including, without limitation, strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services.
Our performance under these Terms is subject to existing laws and legal process, and nothing contained in these Terms limits our right to comply with law enforcement or other governmental or legal requests or requirements relating to your use of the Services or information provided to, or gathered by, us with respect to such use. To the extent allowed by applicable law, you agree that you will bring any claim or cause of action arising from or relating to your access or use of this Services within two (2) years from the date on which such claim or action arose or accrued or such claim or cause of action will be irrevocably waived.
These Terms, and any rights and licenses granted hereunder, may not be transferred or assigned by you, but may be assigned by Roostoo without restriction. Any attempted transfer or assignment by you in violation hereof shall be null and void.
Any provision of the above Disclaimer and Limitation of Liability section that is declared invalid shall be deemed severable and shall not affect the validity or enforceability of the remainder.
CFTC RULE 4.41
– HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT YOUR PERFORMANCE WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.’’