📏Terms and Conditions
Last Updated Date: 27th Oct 2025
INTRODUCTION
IntelGPT Technologies Pte Ltd., a company incorporated under the laws of the Singapore including its affiliates and subsidiaries worldwide (hereinafter referred to as “Panora”, “we”, “us” or “our”) is committed to protecting its users’ (as defined below) (“you”, “your” or “user(s)”) privacy and implementing appropriate security measures. We appreciate the trust you place in us while visiting, accessing and/or using Panora’s (a) website https://panora.exchange/; and (b) application https://app.panora.exchange; (c) all associated subpages and subdomains associated with or linked thereto by Panora, collectively with any materials, tools, protocols and services available therein, and successors website(s) or application(s) thereto (collectively, the “Platform”). The Platform is a decentralized, non-custodial web interface built on the Aptos blockchain that provides users with access to advanced decentralized trading features, including optimized token swaps, cross-chain asset transfers, and real-time analytics. The Platform integrates decentralized protocols (the “Protocol”) designed for both experienced traders and DeFi enthusiasts. Panora delivers superior capital efficiency and intelligent liquidity routing through its integrated suite of products and innovative technology.
These Terms and Conditions (“Terms”) govern your access to and use of the Platform.
PLEASE READ THESE TERMS CAREFULLY BEFORE USING THE PLATFORM OR THE SERVICES. THESE TERMS GOVERN YOUR USE OF THE PLATFORM AND ALL RELATED SERVICES OFFERED BY PANORA, UNLESS INTENDED OTHERWISE UNDER A SEPARATE WRITTEN AGREEMENT EXECUTED WITH YOU, SPECIFICALLY FOR SUCH PURPOSE. WE ARE ONLY WILLING TO PROVIDE THE PLATFORM AND SERVICES TO YOU IF YOU ACCEPT THESE TERMS IN THEIR ENTIRETY. BY ACCESSING OR USING THE PLATFORM AND/OR THE SERVICES, OR ANY PART THEREOF, YOU CONFIRM THAT YOU HAVE READ AND UNDERSTOOD THESE TERMS, AND ACCEPT AND AGREE TO BE BOUND BY AND COMPLY WITH THESE TERMS IN THEIR ENTIRETY. IF YOU DO NOT AGREE WITH THESE TERMS, THEN YOU MUST REFRAIN FROM ACCESSING OR USING THE PLATFORM OR THE SERVICES.
If you are accepting these Terms on behalf of a company or other legal entity, you represent and warrant that you have the authority to bind such an entity to these Terms, in which case “you” or “your” will refer to that entity. If you do not have such authority, or if you do not accept all of these Terms on behalf of the entity, we are unwilling to provide you with access to the Services or Platform. These Terms, together with the Privacy Policy, and any other policies made available by Panora from time to time, constitute the entire agreement between you and Panora and supersede all prior understandings regarding the Platform and Services. While Panora may occasionally interrupt Platform access for maintenance, updates, or upgrades, sometimes without prior notice, it will strive to minimize disruption and prioritize off-peak scheduling. The failure to enforce any provision of these Terms shall not be deemed a waiver unless explicitly stated in writing by Panora. If any provision is found unenforceable, the remainder will remain valid and enforceable. You may not assign your rights or obligations without Panora’s prior written consent, while Panora may assign its rights freely. These Terms do not establish any partnership, joint venture, employment, or agency relationship between you and Panora, and neither party has authority to bind the other. The provisions of these Terms that by their nature should survive termination, including but not limited to indemnity, disclaimers, limitations of liability, intellectual property rights, governing law, dispute resolution and miscellaneous provisions, shall survive any termination or expiration of these Terms.
“User(s)” means any individual, company, legal entity, protocol, smart contract system, or other participant that (i) accesses, visits, or uses the Platform for trading, swapping, bridging, or other services (including end-users of the Platform), or (ii) integrates, connects, or makes available its decentralized exchange protocol, liquidity source, smart contracts, APIs, SDKs, or related technology to or through the Platform (including integration partners or protocol providers).
DISCLAIMER
General Risk Acknowledgement
You acknowledge and agree that using the Platform involves significant risks. The Platform provides advanced decentralized trading Services — built on the Aptos blockchain and integrated with multiple liquidity sources and protocols. These Protocol are inherently volatile and experimental.
The value of any digital assets you swap, bridge, or trade via Platform may experience rapid and unpredictable fluctuations due to market volatility, liquidity constraints, smart contract vulnerabilities, Protocol failures, regulatory changes, or external exploits.
While Panora leverages Aptos’ high throughput and security features, risks associated with blockchain technology and third-party protocols remain. Before engaging with Panora’s products such as Swap, Flows, Terminal, you should carefully evaluate your financial situation, risk tolerance, technical knowledge, and investment goals. There is a risk of partial or total loss of your funds, and you should only use Platform if you fully understand and accept these risks.
You expressly agree that you assume all risks in connection with your access to and use of the Platform. Additionally, you expressly waive and release us from any and all liability, claims, causes of action, or damages arising from or in any way relating to your access to and use of the Platform.
You acknowledge and agree that risk assessment may be conducted using Third-Party Services to monitor wallet addresses and/or other content for non-compliant behavior based on publicly available information. We reserve the right to block or restrict access of the wallet address associated with such illicit activity. We hold no liability for such assessment, restriction, results, or accuracy of the Third-Party Services.
No Advisory or Fiduciary Relationship By using the Platform, you expressly acknowledge that:
Panora or the Platform does not act as your financial advisor, fiduciary, broker, or agent in any capacity.
No communication, interface, or content on the Platform constitutes investment, financial, legal, or tax advice.
Platform does not conduct suitability checks, risk assessments, or appropriateness evaluations in relation to any strategy or transaction.
You are solely responsible for all decisions related to the use of leverage, asset allocation, risk selection, and closing of positions.
You agree that no aspect of the Platform shall be interpreted as a solicitation to invest, trade, or participate in any financial product.
Informational Nature of Platform Content
All content and data presented through Platform including but not limited to, token swap rates, liquidity sources, routing paths, protocol integrations, real-time analytics, third-party metrics, transaction histories, charts, and risk indicators are provided solely for informational and illustrative purposes. Specifically:
This information does not constitute financial, investment, or trading advice, nor is it a recommendation or endorsement of any asset, strategy, or protocol.
Content may be inaccurate, incomplete, outdated, or based on third-party sources outside Panora’s control.
Some data may reflect simulated, hypothetical, or projected outcomes that do not guarantee actual results.
Users should not rely solely on this information for making investment, trading, or financial decisions. Users are strongly encouraged to conduct their own independent research, perform due diligence, and assess risks before engaging in any token swaps, cross-chain transactions, or other DeFi activities through Panora’s Platform.
User Responsibility
You are solely responsible for:
Assessing whether the swap rates provided by Panora along with any Protocol integration available through Platform aligns with your individual financial situation, investment objectives, and risk tolerance;
Understanding how Protocols, smart contracts, and blockchain networks especially on Aptos and integrated chains function before engaging with Panora’s Platform;
Actively monitoring your swaps, cross-chain transactions, including managing your own risk parameters and liquidity;
Bearing all financial losses, opportunity costs, and risks arising from your use of Panora’s Platform, smart contract interactions, and related services; Acknowledging that Panora disclaims any liability for direct or indirect losses resulting from your use of the Platform, including frontend access, backend smart contracts, APIs, or third-party integrations.
Completing Know Your Client (KYC) and Know Your Business (KYB) checks, if applicable, through a third-party provider to access certain products and/or features. Your refusal to provide requested information may result in access restrictions.
No Guarantee of Performance or Outcome
You understand and agree that Panora provides no guarantee of
15. Any return on investment, or capital preservation;
Execution quality, Protocol uptime, or protection against market movements;
Protocol solvency, collateral valuation methods, or timely liquidation avoidance.
Use of the Platform is at your sole discretion and risk. You are encouraged to consult with licensed professionals before allocating significant capital.
Prohibited Uses
You agree not to:
Use the Platform in violation of any applicable law or regulation;
Exploit or abuse any vulnerability, mispricing, or error in Panora’s frontend or backend smart contract logic;
Engage in wash trading, market manipulation, Sybil attacks, or exploit Panora’s systems for personal gain;
Circumvent access controls or create multiple accounts for the purpose of evading limits or gaming the system.
Any funds misappropriated through such prohibited conduct shall be treated as void and subject to recovery without limitation. Panora reserves the right to restrict or disable access in such events.
Panora is a blockchain-based software interface that enables users to interact directly with decentralized protocols available on public networks. Panora does not operate as a broker, exchange, payment service provider, custodian, or wallet service, and does not at any time have possession, control, or custody of user assets or private keys. All transactions are executed by the user, from the user’s self-custodial wallet, directly with third-party protocols.
Panora does not issue, create, or offer digital payment tokens (as defined under applicable laws), nor does it provide services for the exchange of such tokens for fiat currency or other tokens on behalf of users. Any digital assets displayed or accessible through the Platform are the sole responsibility of the underlying Protocol or network.
At no point does Panora: (a) receive or hold user funds, (b) store, safeguard, or manage private keys, (c) have the ability to freeze, reverse, or otherwise affect the movement of digital assets. The user retains full control over their assets at all times.
All interactions with the Platform require the user to connect and use a self-custodial wallet. Transactions occur only when initiated and cryptographically signed by the user. Panora cannot, and does not, execute any transaction on behalf of a user without such action.
Panora is not licensed, registered, or regulated as a digital payment token service provider, money transmitter, payment services provider, or equivalent in any jurisdiction. The Platform is provided strictly as a technology service and may not be used in jurisdictions where such use would be unlawful or subject to licensing.
The Platform may display or facilitate access to independent Protocols, liquidity sources, or smart contracts. Panora does not own, control, operate, or endorse such third parties and is not responsible for their performance, security, or compliance. Users engage with such Protocols entirely at their own discretion and risk.
Users are solely responsible for ensuring that their use of the Platform complies with all applicable laws and regulations in their jurisdiction, including, without limitation, any digital asset, securities, tax, and anti-money laundering laws.
Panora confirms that:
Panora does not custody user assets.
Panora does not transmit, exchange, or broker digital payment tokens (DPTs).
Panora does not solicit or facilitate fiat-to-crypto or crypto-to-fiat transactions.
Users interact solely with open-source smart contracts, fully under their own discretion.
Panora does not qualify as a DPT service provider under the Payment Services Act 2019.
The Platform does not require a license under current MAS regulations based on current business activities.
This position is monitored continuously. If changes in activity or regulatory scope occur, Panora will assess its obligations and update users accordingly.
INTERPRETATIONS
Modifications: We reserve the right to change or modify these Terms at any time and at our sole discretion. Any changes to or modifications of these Terms will be in effect as of the “Last Updated Date” referred to at the top. You should review these Terms before using any Services. You agree and understand that by using the Services after the “Last Updated Date”, you accept and agree to the revised Terms.
Comprehensive Agreement: These Terms, along with the Privacy Policy available at: docs.panora.exchange (the “Privacy Policy”) and any rules outlined on the Platform, constitute a legally binding and enforceable agreement between Panora and you, as User of the Platform and the Services. These Terms supersede any prior or contemporaneous negotiations, discussions, agreements, understandings, representations, and warranties, whether written or oral, between you and us regarding the subject matter.
Headings: The headings and subheadings in the Terms are for ease of reference only and are not to be taken into account in the construction or interpretation of any provision or provisions to which they refer.
Extended meaning: Unless otherwise specified in these Terms, words importing the singular include the plural and vice versa and words importing gender include all genders. The word “include”, “includes” or “including” will be interpreted on an inclusive basis and be deemed to be followed by the words “without limitation”.
The language in these Terms will be interpreted as to its fair meaning, and not strictly for or against any party.
ELIGIBILITY
Eligibility Criteria
To access and use the Platform and Services, you represent and warrant that you:
are an individual, company, entity, or other legal organization with full legal capacity, power, and authority to enter into and comply with these Terms;
if acting on behalf of a legal entity, are duly authorized to bind that entity to these Terms;
are not located in, incorporated in, or operating from any jurisdiction where accessing or using the Platform would:
be in violation of applicable law or regulation, or
cause Panora or any third party to be in contravention of such laws or regulations; and
are not a person or entity listed on any government or international sanctions list, including but not limited to those maintained by:
the United Nations Security Council,
the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC),
the European Union and its member states,
the United Kingdom,
or any other relevant governmental authority.
Restricted Jurisdiction
The use of the Platform and Services is strictly prohibited in the following jurisdictions, including where sanctions, embargoes, or legal restrictions are in force (“Restricted Jurisdictions”): Algeria, Afghanistan, Albania, American Samoa, Antigua, Belarus, Bolivia, Burma (Myanmar), Central African Republic, China, Cuba, Democratic Republic of Congo, Guam, Iran, Iraq, Ivory Coast, Liberia, Libya, Morocco, Nepal, North Korea, Northern Mariana Islands, Pakistan, Puerto Rico, Somalia, South Sudan, Sudan, Syria, Ukraine, Yemen, and Zimbabwe.
By accessing or using the Platform, you represent and warrant that you are not a resident, citizen, tax resident, or agent of any of the above-listed countries or regions.
If it is determined, or reasonably suspected, that you are accessing or have accessed the Services from a Restricted Jurisdiction, or in violation of applicable sanctions or laws: (a) Panora may, in its sole discretion and without prior notice, restrict, suspend, or permanently terminate your access to the Services; (b) you will be deemed to have committed a material breach of these Terms; (c) Panora shall have no liability to you for any losses, damages, or claims arising from such restriction, suspension, or termination; and (d) you agree to indemnify and hold harmless Panora, its affiliates, and contributors from any claims, liabilities, or damages arising from your breach of this clause. Panora reserves the right to update, expand, or amend the list of Restricted Jurisdictions at any time and without notice. You are responsible for reviewing these Terms periodically to ensure ongoing compliance.
No Circumvention
You agree that:
Use of VPNs, proxies, or similar services to bypass jurisdictional or geographic restrictions imposed by Panora is strictly prohibited;
Doing so will constitute a material breach of these Terms and may result in immediate suspension or termination of your access to the Platform;
Panora reserves the right to update the list of Restricted Jurisdictions or modify eligibility criteria at its sole discretion, with or without prior notice, especially in response to legal, regulatory, or operational requirements.
Your Responsibility for Legal Compliance
You are solely responsible for:
Ensuring that your use of the Platform is compliant with all local laws and regulations applicable in your jurisdiction;
Determining the legality of your actions in accessing or using any Services;
Indemnifying and holding harmless Panora for any liability, claim, damage, or loss resulting from your violation of jurisdictional or eligibility requirements.
ABOUT THE PLATFORM
Panora offers a cutting-edge decentralized trading Platform built on the Aptos blockchain, designed to empower users with efficient, transparent, and optimized access to the Protocol. By leveraging Aptos’ high-performance architecture, which offers low latency, high throughput, and advanced parallel transaction processing, Panora delivers fast and cost-effective trade executions. The Platform aggregates liquidity from a diverse range of sources, including automated market makers (AMMs), order books, concentrated liquidity pools, liquid staking derivatives, and other decentralized exchange aggregators. This aggregation ensures that users receive the best available prices and optimal trading routes.
Panora is committed to enhancing the DeFi experience through an intuitive interface, advanced routing algorithms, and comprehensive tools that cater to both novice and professional traders. It integrates multiple product offerings, including token swaps, cross-chain bridging, analytics, and developer APIs within a seamless ecosystem.
By combining cutting-edge blockchain technology with innovative product design, Panora aims to redefine how users trade in the decentralized world.
SERVICES OFFERED
Panora provides a decentralized, non-custodial suite of DeFi-native tools purpose-built for the Aptos blockchain. Designed for sophisticated DeFi participants, institutional traders, and experienced investors, Panora’s services are modular, capital-efficient, and optimized to abstract complexity into curated, one-click strategies. The Platform currently offers the following core modules (the “Services”):
Swap — The Superior Swapping Experience (“Panora Swap”)
Panora Swap is a Meta-DEX aggregator that consolidates liquidity from a wide array of sources, including Automated Market Makers (AMMs), Concentrated Liquidity AMMs (CLAMMs), Onchain Order Books, Liquid Staking Derivatives (LSDs), and other DEX aggregators. This allows users to access the most competitive trading rates by utilizing advanced routing strategies such as multi-hop transactions and trade splitting.
Key Features:
Optimal Routing: Panora compares rates across integrated liquidity sources to find the best trading paths, maximizing returns and minimizing slippage.
Transaction Splitting: Large trades are split across multiple DEXs to optimize pricing and reduce liquidity impact.
Multi-Hop Functionality: Complex trades across multiple tokens and DEXs can be executed within a single transaction, saving time and gas fees.
User-Centric Design: The Platform offers an intuitive interface with advanced filtering options, empowering users of all experience levels to trade effectively.
Panora Swap supports integration with multiple liquidity sources and wallets within the Aptos ecosystem, providing a secure, efficient, and transparent trading experience for everything from simple token swaps to sophisticated arbitrage strategies.
Flows — Cross-Chain Asset Movement and Swapping (“Panora Flows”)
Panora Flows is the cross-chain engine that enables Aptos traders to move and swap assets seamlessly across 10+ blockchains. Bridging is facilitated through trusted bridge service providers, and once assets arrive on Aptos, swaps are executed through Panora’s integrated liquidity sources. This ensures users benefit from best-price execution, minimal slippage, and a unified trading experience—without reliance on third-party cross-chain swap providers.
Key Capabilities:
Intelligent Liquidity Aggregation: Liquidity is aggregated and compared across multiple decentralized exchanges to ensure users receive the best market rates.
Multi-Chain Support: Facilitates asset movement and swapping across diverse blockchain ecosystems.
Unified Transaction Tracking: Enables users to monitor cross-chain transaction statuses from initiation through completion within one interface.
Terminal — Aptos’ All-in-One Trading Command Center (“Panora Terminal”)
Panora Terminal is a comprehensive dashboard for Aptos DeFi analytics and trading, combining real-time on-chain data feeds, token analytics, portfolio management, and direct swap execution powered by Panora Swap.
Key features:
Overview & Data Dashboard: Live tracking of token prices, liquidity, market caps, and other key metrics.
Category Filters: Ability to sort tokens by categories such as Meme Coins, Native Assets, Trending, Gainers, Losers, and custom filters like Favorites.
One-Click Buy: Instant swap execution with a single click.
Trending Bar: Real-time updates on hot tokens and market movers.
Portfolio Overview: Displays real-time token balances, market values, and performance metrics.
A fee of one percent (1%) is applied by Platform on transactions executed via the Panora Terminal interface.
APIs (Application Programming Interface) and SDKs (Software Development Kit) — Developer Tools
Panora offers developer-friendly APIs and SDKs that provide access to the full product suite, including token lists and price feeds on Aptos. These tools enable seamless integration for developers building applications on top of Panora’s infrastructure.
DCA — Automated Recurring Investment (“Panora DCA”)
Panora DCA enables users to invest consistently and systematically by setting up recurring token purchases at fixed intervals. The Platform automates the execution of these orders directly on-chain, smoothing out price volatility and removing the need for constant market monitoring.
Key Features:
Automated Recurring Orders: Users can schedule recurring purchases of selected token pairs at customized intervals, enabling disciplined and long-term investment strategies.
Customizable Strategy: Configure order amount, frequency, and total number of purchases to align with your investment plan.
Secure Execution: Orders are executed reliably and securely on-chain via Panora’s decentralized network of executors, while users retain full custody of their assets until execution.
User-Friendly Interface: Panora provides an intuitive dashboard to create, monitor, adjust, or cancel active DCA orders, giving full control over your recurring investment strategy.
Panora DCA integrates seamlessly within the Platform, offering a secure, efficient, and transparent experience for building long-term token positions without manual intervention.
Limit Orders — Trade on Your Own Terms (“Panora Limit Orders”)
Panora Limit Orders empower users to execute trades automatically at pre-set prices, giving full control over trading strategies without constant market monitoring. Orders are executed directly on-chain by Panora once the market conditions meet the specified criteria.
Key Features:
Pre-Set Price Execution: Users can define target prices for token pairs. Trades are triggered automatically when the market reaches these prices.
Customizable Orders: Easily place, update, or cancel limit orders via Panora’s intuitive interface.
Secure and Non-Custodial: Assets remain fully under user control until a match is found and the trade is finalized.
Automated Execution: Panora executes trades automatically, potentially allowing users to receive more favorable rates than anticipated.
User-Friendly Dashboard: The Platform provides a streamlined interface to create, monitor, and manage all active and completed limit orders efficiently.
Panora Limit Orders integrate seamlessly within the Platform, offering a secure, efficient, and transparent experience for automated, price-targeted trading.
PLATFORM MECHANISM
Panora’s Platform is designed to provide a seamless, secure, and transparent trading experience across multiple products. Each product offers a different trading strategy or functionality, but all follow the same core principles: easy wallet connection, clear transaction configuration, transparent review, and real-time monitoring of activity.
Swap
The Swap feature enables instant token-to-token trades within the same blockchain. Mechanism:
Connect Wallet – Users begin by connecting their wallet via the “Connect” button on the interface.
Select Token Pair – Choose the token to sell and the token to buy from supported assets.
Enter Amount – Specify the trade amount.
Review and Confirm – The interface displays expected output, price impact, and fees before confirmation.
Execution and Settlement – Once confirmed, the trade executes instantly on the same network, and the output tokens are credited to the wallet.
History – Users can track completed swaps in the transaction history panel.
Cross-Chain Swap (Panora Flows)
The Cross-Chain Swap feature allows users to bridge assets across 10+ blockchains, with swaps executed using Panora’s integrated liquidity.
Mechanism:
Connect Wallets – Users connect both source and destination wallets. Platform prompts to switch if connected to the wrong network.
Configure Transaction – Select source chain, destination chain, token pair, and amount.
Routing – Platform selects the optimal bridging path via supported bridge providers, then executes swaps using integrated liquidity sources on Panora.
Review and Confirm – Users are shown estimated output, fees, and settlement times.
Execution and Monitoring – Transaction progresses through bridging, arrival, and swap stages, tracked in real time.
History – Outcomes marked as Success or Failed (reverted), with transparent records available.
Limit Orders
Limit Orders allow traders to set a target price for a trade, executed automatically once conditions are met.
Mechanism:
Connect Wallet – Start by connecting your wallet via “Connect.”
Select Token Pair & Amount – Choose token pair and specify amount.
Set Price & Expiry – Enter desired execution price and order validity duration.
Review and Confirm – Confirm order details; order is added to Active Orders.
Execution – When market price matches the set condition, the order executes automatically.
Completion or Cancellation – Orders are moved to Completed upon fill or can be cancelled manually/automatically on expiry.
Fees: 1% fees apply to Limit Orders.
Dollar-Cost Averaging (DCA)
DCA allows traders to accumulate positions over time by scheduling recurring token purchases.
Mechanism:
Connect Wallet – Start by connecting your wallet via “Connect.”
Select Token Pair & Amount – Choose pair and specify investment amount.
Set Strategy – Define DCA interval (hourly, daily, weekly) and number of orders. Optional custom price ranges can be configured.
Review and Confirm – Confirm strategy details; recurring orders are placed automatically.
Monitoring – Orders appear under Active Orders and move to Completed when filled.
Cancellation – DCA strategies can be cancelled at any time.
Fees: 1% fees apply to DCA Orders.
Terminal
The Terminal is Panora’s advanced trading interface offering pro-level tools for analytics, execution, and strategy management.
Mechanism:
Connect Wallet – Start by connecting your wallet.
Access Tools – Utilize advanced charting, on-chain analytics, and trade management features.
Execute Trades – Place swaps, limit orders, or strategies directly from the terminal.
Track & Manage – Monitor live and historical activity with professional dashboards.
FEES AND CHARGES
Panora aims to maintain transparency and fairness in its fee structure across its suite of products. The following outlines the applicable fees and charges that users may incur while using the Panora Platform:
Cross-Chain Bridging and Swaps
Bridging Fees: Fees may apply when using third-party bridge providers or protocols. These fees are determined by the respective providers and may vary depending on the network and service used.
Swapping Fees: Panora does not charge any fees on standard token swaps executed solely within the Aptos ecosystem. However, for cross-chain transactions (i.e., bridging plus swapping), Panora charges a 1% fee on swaps executed on the Aptos side of the flow.
Network Fees: Standard blockchain gas or network fees apply separately and are charged by the relevant blockchain networks for transaction processing.
Terminal Services
The Platform charges a one percent (1%) fee on all transactions executed through the Panora Terminal interface, including swaps and other trading activities.
Limit Orders.
A fee of one percent (1%) of the executed transaction amount is charged on all Limit Orders placed through the Platform. This fee is deducted automatically upon successful execution of the order.
Dollar-Cost Averaging (DCA).
A fee of one percent (1%) of the executed transaction amount is charged on each recurring order under a DCA strategy. This fee is deducted automatically upon execution of each individual order.
API and SDK Integrations.
Where third-party partners integrate Panora’s services via API or SDK, any fees charged to end users by such partners will be subject to a revenue-sharing arrangement between Panora and the partner, as mutually agreed in advance. The share of fees attributable to Panora will be collected and settled as per the commercial terms agreed with each partner.
Additional Notes
All fees are calculated on the transaction amount and are deducted automatically at the time of execution.
Panora does not charge any deposit or withdrawal fees; however, users remain responsible for any gas fees or network costs incurred on the respective blockchains.
Fees are subject to change and users will be notified of any material changes to the fee structure via Platform announcements or updated Terms.
Fees charged by Protocols integrated within Panora’s Platform are beyond Panora’s control.
Panora reserves the right to modify its fee structure at any time. Any material changes will be communicated through Platform announcements and updated Terms prior to taking effect.
INTELLECTUAL PROPERTY
Ownership of Intellectual Property. All rights, titles, and interests in and to the Platform and Services, including but not limited to the software, source code, algorithms, databases, user interfaces, functionality, designs, graphics, audio, video, text, trademarks, service marks, trade names, logos, domain names, and all other proprietary materials or content (“Intellectual Property”) are and shall remain the exclusive property of Panora or its licensors. This includes all improvements, derivative works, modifications, or enhancements, irrespective of any input or Feedback you may provide. Nothing in these Terms conveys to you any ownership or proprietary right in or to the Intellectual Property.
Limited License. Subject to your continued compliance with these Terms, Panora grants you a limited, revocable, non-exclusive, non-transferable, and non-sublicensable license to access and use the Platform and Services solely for your personal, non-commercial use. All rights not expressly granted herein are reserved.
Prohibited Use
You agree not to:
Copy, reproduce, distribute, publicly display, publish, modify, translate, adapt, or create derivative works of the Platform or any part thereof;
License, sell, lease, rent, assign, transfer, or otherwise exploit the Platform or Services;
Reverse engineer, decompile, disassemble, or otherwise attempt to discover the source code or underlying technology, except as permitted by applicable law;
Use the Platform or Services for commercial purposes, data scraping, automated data gathering, or unauthorized extraction of information;
Remove, alter, or obscure any copyright, trademark, or proprietary notices displayed within or associated with the Platform or Services.
Trademarks and Branding
All trademarks, logos, service marks, and trade names appearing on the Platform, including but not limited to “Panora” and any related branding, are the property of Panora or its affiliates or licensors. You may not use these marks for any purpose, including advertising or publicity, without prior written consent. Unauthorized use may constitute trademark infringement or unfair competition in violation of applicable laws.
User IP and Feedback
User IP: You hereby grant Panora a perpetual, irrevocable, royalty-free, worldwide, and non-exclusive license (with the right to sublicense) to use, reproduce, display, distribute, and adapt any intellectual property you submit, upload, or provide through the Platform (“User IP”) to the extent it: 1. forms part of or is necessary for the operation of the Platform, Services, or any derivative products; and 2. enables Panora to provide access, functionality, or services to you or other users. This includes the right to sublicense such User IP to third-party service providers or affiliates as necessary to deliver the Services.
Feedback: Any ideas, suggestions, bug reports, or recommendations you submit regarding the Platform or Services (“Feedback”) are non-confidential and become the property of Panora. You grant Panora a perpetual, irrevocable, transferable, worldwide, royalty-free license to use, reproduce, modify, publish, translate, distribute, sublicense, and otherwise exploit any such Feedback for any purpose, without obligation or compensation to you.
Created IP: All Intellectual Property developed or created in connection with your use of the Platform or Services, including any code, content, features, or functionality (“Created IP”), shall automatically vest in Panora at the time of creation. You hereby irrevocably assign to Panora, with full title guarantee, all right, title, and interest in and to any Created IP, and shall (or shall ensure your agents or contractors shall) promptly execute any further documents or take actions reasonably required to give effect to this clause.
Reservation of Rights. Except for the limited rights expressly granted to you under these Terms, no rights or licenses are granted to you under any Intellectual Property of Panora, whether by implication, estoppel, or otherwise.
Copyright Infringement – Notice Procedure
If you believe that any material on the Platform infringes your copyright, you may submit a written notice to us including:
A physical or electronic signature of the rights holder or authorized representative;
Identification of the copyrighted work allegedly infringed;
A description of the infringing material and its location on the Platform;
Your contact information (address, phone number, email);
A good faith statement that the use is not authorized by the copyright owner, agent, or law;
A statement under penalty of perjury that the above is accurate and that you are authorized to act on behalf of the copyright owner.
Please send all notices to: [email protected]
THIRD PARTY LINKS AND INTEGRATIONS
The Panora Platform may include links to, integrations with, or access points for third-party websites, decentralized applications (dApps), Protocols, or other blockchain-based services (collectively, “Third-Party Services”). These are provided solely for user convenience and do not constitute any endorsement, sponsorship, or affiliation between Panora and such Third-Party Services. Panora does not review, monitor, or make any representations regarding the content, functionality, reliability, legality, or suitability of any Third-Party Services.
By accessing or interacting with Third-Party Services through the Platform, you acknowledge and accept that such interactions are undertaken entirely at your own risk. Panora does not control, and is not responsible for, the content, operations, security standards, or data practices of these Third-Party Services. Your use of any such service is governed solely by the terms, conditions, and policies of the respective third party.
You further understand and agree that certain functionalities accessible via the Platform — including but not limited to swapping or exchanging virtual currencies — are provided solely by third-party providers. While Panora may facilitate your access to these services, it is not a party to, and bears no responsibility or liability for, any actions, transactions, failures, or activities of such providers.
Panora disclaims all liability for any damages, losses, errors, failures, omissions, or security incidents arising from your use of or reliance on Third-Party Services. This includes, without limitation, services provided by blockchain networks, oracles, lending or borrowing protocols, liquidity pools, or other integrated Platforms. Panora does not guarantee the legality, quality, or performance of any products, tokens, or services offered by third parties.
Interacting with Third-Party Services may expose you to elevated risks, including phishing attacks, contract exploits, fraud, smart contract vulnerabilities, or other malicious behavior. You are strongly encouraged to conduct independent due diligence before engaging with any third-party Platform or contract, including reviewing source code (where available), audits, reputation, user feedback, and the security posture of the Protocol. Always verify authenticity and take all necessary precautions to protect your assets and private keys.
Third-Party Services may change, suspend, or terminate at any time without notice, and Panora has no control over such decisions. Panora makes no guarantees regarding the availability, functionality, or compatibility of any integrated Third-Party Service and reserves the right to disable or remove any such integration at its sole discretion without prior notice or liability.
YOUR REPRESENTATION AND WARRANTIES
Before your use of the Platform or Services, and on an ongoing basis, you represent, warrant, covenant and agree that:
If you are a legal entity, decentralized protocol, or other organization, you are duly organized, validly existing, and in good standing under the laws of your jurisdiction, and have the full power, capacity, and authority to enter into these Terms and perform your obligations hereunder.
You have complied, and will continue to comply, with all applicable laws in connection with your operations and use of the Platform, including AML, CTF, sanctions, securities, consumer protection, tax, and data protection obligations. You are not owned or controlled by any person or entity listed on any sanctions list.
Digital assets values can fluctuate greatly in value depending on market conditions; the user is aware of the volatile nature of cryptocurrencies, and holds Panora harmless for any loss or damages arising from such volatility;
There is a risk of losing cryptocurrency and other funds of value when using the Service and Platform, Panora has no responsibility to you for any such loss;
Your use of the Platform and the Service is at your sole option, discretion, and risk;
You have read, understood and accepted the risks associated with the use of the Platform and Services as detailed in this Terms and Privacy Policy. By continuing to use the Platform and Services, you expressly assume all such risks, including but not limited to those relating to system failures, security vulnerabilities, third-party interactions, regulatory uncertainties, and the potential loss of digital assets;
You are solely responsible for any applicable taxes which may be payable on any transactions / activity by you through your using the Platform or Service;
You will not access or use the Platform or Services to conduct, promote or otherwise facilitate any illegal activities.
To your knowledge, there are no undisclosed material defects, vulnerabilities, or security risks in any Protocol or integration materials you provide to Panora.
The telecommunication networks, blockchain networks, and internet access services required for you to access and use the Platform and Services are entirely beyond the control of Panora, and Panora shall have no liability whatsoever for any outages, slowness, capacity constraints or other deficiencies affecting the same;
You are: (i) aged 18 (eighteen) or over, (ii) you are of the age of majority in your jurisdiction and have the full right, power and authority to enter into and comply with these Terms, on behalf of yourself and/or any entity for which you may access the Platform or Services, (iii) you are accessing the Platform and Services from a jurisdiction in which it is legal to do so, (iv) you are not a Politically Exposed Person, nor are you on any applicable sanctions lists or terrorism finance watchlists, including but not limited to those of the U.S. and the E.U., (v) your access and use of the Platform and Services shall comply with all applicable laws and regulations; and (vi) that you will inform Panora immediately if you are placed onto one of these lists or change your residence to a prohibited jurisdiction;
In using the Platform and Services, you acknowledge that you are NOT dealing with, and that Panora is NOT operating as and has NO legal duties related to, a crypto-asset service provider, virtual asset service provider, asset manager, brokerage, custodian, exchange, virtual asset trading Platform, investment or financial advisor, loan or credit service provider, money or payment service operator, securities dealer or issuer, or equivalent under the applicable regulations (you should not use the Platform or Services as such, if you require such services or such a service provider);
Should you discover a bug or error that may lead to an exploit of the Services, the Platform or other loss of funds from Panora, you have the responsibility to notify Panora at the following email: [email protected], as soon as practicable; any attempt by you to use such a discovered exploit or bug for illicit financial gain is illegal and strictly prohibited under the Terms; such exploits or bugs should be disclosed in a responsible manner and in strict confidence to [email protected] and no other entity.
All information, documents, and statements you provide to Panora in connection with these Terms are true, accurate, and not misleading in any material respect.
Panora reserves the right to prosecute to the fullest extent of the law anyone who exploits or attempts to exploit the Platform or Service in an unlawful manner.
NO WARRANTIES
Panora provides the Platform and Services to you on an “as-is” and “as-available” basis, and disclaims any and all warranties, representations, or guarantees, whether express or implied, including but not limited to any implied warranties of merchantability, fitness for a particular purpose, non-infringement, accuracy, or completeness. Panora does not warrant, guarantee, or represent that the Platform or Services will meet your requirements, operate without interruptions, or be error-free. You acknowledge that Panora makes no representations regarding the quality, reliability, or availability of the Services, and that your use of the Services is solely at your own risk.
While Panora will make commercially reasonable efforts to maintain and support the Platform and Services, we do not guarantee or warrant that the Platform or Services will be uninterrupted, error-free, timely, or secure. There may be delays, failures, interruptions, or bugs, which may impact your experience. Panora does not commit to resolving any defects or issues within a specified timeframe, and there is no warranty or guarantee that such issues will be rectified. You acknowledge that the Platform and Services may be subject to periodic maintenance, system upgrades, or unforeseen technical difficulties that may affect their availability and performance.
By accessing and using the Platform and Services, you agree to abide by the rules and guidelines as outlined on the Platform. Panora retains full and exclusive authority over the issuance, operation, maintenance, and termination of the Platform and Services. This includes, but is not limited to, the right to manage user access, set policies, determine usage limits, and modify or discontinue the Platform or Services as we deem appropriate. You acknowledge that Panora has full discretion in determining the scope and availability of the Platform and Services provided and reserves the right to change or alter these terms, policies, or the functionality of the Platform and Services at any time.
In the event of any disputes or disagreements concerning the use of the Platform or Services, the interpretation of these Terms, or the enforcement of any rules, the decision of Panora shall be final and binding. Panora retains sole discretion in resolving disputes, including any interpretations of the Terms, and such decisions are not subject to appeal or review by any party. You agree that you will not challenge the decisions of Panora, and that you will comply with any instructions or resolutions provided by Panora as part of the dispute resolution process.
ACKNOWLEDGEMENTS AND RISK DISCLOSURE
By using the Panora Platform, you acknowledge, understand, and agree to the following:
Non-Custodial Service – Panora is a non-custodial interface. The Platform does not hold, control, or have access to your funds at any time. All transactions are executed directly from your connected wallet via smart contracts. You are solely responsible for the security of your wallet, private keys, and seed phrases. Loss of access to your wallet will result in permanent loss of assets.
Market Risk – Trading in digital assets involves inherent volatility and risks beyond Panora’s control, which may result in receiving more or less value than expected.
Execution Risk – Trades executed via Panora are routed to third-party DEXs and liquidity sources. Prices and amounts displayed before execution are indicative only. Actual execution prices may differ due to slippage, price impact, or blockchain conditions.
Smart Contract Risk – All transactions are executed via smart contracts, which may contain bugs, vulnerabilities, or exploits. Panora does not guarantee the functionality, accuracy, or security of these contracts.
Third-Party Protocol Risk – Panora integrates with external Protocols like DEXs, AMMs, and liquidity pools. The Platform does not control their performance, uptime, fees, or security. Any failure or exploit in these Protocols may result in loss of funds.
Oracle/Data Risk – Asset pricing and trade routing may rely on external oracles and data feeds. Inaccurate, delayed, or manipulated data may cause unexpected outcomes or failed transactions.
Network Risk – Panora operates on the Aptos blockchain. Network congestion, downtime, or transaction failures may delay or prevent trade execution. Panora bears no responsibility for such disruptions.
No Financial Advice – Information on the Platform, including price data, routing suggestions, and liquidity metrics, is for informational purposes only and does not constitute investment, trading, or legal advice. You must conduct your own research before executing trades.
Regulatory Compliance – You are solely responsible for ensuring that your use of Panora complies with the laws and regulations of your jurisdiction.
No MAS/DPT Safeguards – Panora is not licensed or regulated by the Monetary Authority of Singapore or any other regulator. Users have no access to statutory protections available under regulated Digital Payment Token (DPT) service providers.
Beta/Early Access Features – Certain features may be experimental or in beta. Such features are provided “as-is” without warranty and may be changed or removed without notice.
User Responsibility – You are solely responsible for verifying trade details, understanding the risks of token swaps, and managing your own positions and assets. Panora is not liable for any losses arising from your use of the Platform.
The use of blockchain technology, decentralized finance protocols, and digital payment tokens involves substantial risks, including, but not limited to, market volatility, technical failures, cybersecurity threats, and potential total loss of assets. The user acknowledges and accepts these risks, and agrees that Panora shall have no liability for any loss, damage, or claim arising from such risks.
Panora solely provides a user interface and related software tools that enable interaction with publicly accessible blockchain networks and smart contracts. Panora does not:
match or arrange counterparties for the exchange of Digital Payment Tokens (“DPTs”),
intermediate transactions between buyers and sellers,
guarantee execution of any transaction,
maintain an order book or trading Platform functionality that would constitute an “exchange” under applicable law.
Panora does not receive, transmit, or transfer DPTs between persons as a business. Any transfer of DPTs occurs solely between a user’s self-custodial wallet and the chosen third-party protocol, without passing through or being controlled by Panora.
Where the Platform displays routing paths, liquidity sources, or pricing, this information is algorithmically generated from public blockchain data and is provided solely for informational purposes.
Panora does not solicit, negotiate, or otherwise arrange any transaction between counterparties.
All Protocols, bridges, or liquidity sources accessible via the Platform operate independently and are not owned, controlled, or operated by Panora. Panora’s inclusion of such access does not constitute participation in, or provision of, any regulated service under the Payment Services Act 2019.
Any fees collected by Panora relate exclusively to the use of the Platform’s interface and technology.
Such fees are not tied to the custody, transmission, exchange, or brokerage of DPTs, and are payable regardless of whether a transaction is ultimately executed on any third-party protocol.
NON-CUSTODIAL AND FIDUCIARY DUTIES
The Platform is purely non-custodial, meaning we do not ever have custody, possession, or control of your digital assets at any time. It further means you are solely responsible for the custody of the cryptographic private keys to the digital asset wallets you hold and you should never share your wallet credentials or seed phrase with anyone. We accept no responsibility for, or liability to you, in connection with your use of a wallet and make no representations or warranties regarding how the Platform will operate with any specific wallet. Likewise, you are solely responsible for any associated wallet and we are not liable for any acts or omissions by you in connection with or as a result of your wallet being compromised.
These Terms are not intended to, and does not, create or impose any fiduciary duties on us. To the fullest extent permitted by law, you acknowledge and agree that we owe no fiduciary duties or liabilities to you or any other party, and that to the extent any such duties or liabilities may exist at law or in equity, those duties and liabilities are hereby irrevocably disclaimed, waived, and eliminated. You further agree that the only duties and obligations that we owe you are those set out expressly in these Terms.
INDEMNITY
Indemnification by You
You agree to indemnify, defend, and hold harmless Panora, its partners, officers, directors, employees, agents, licensors and service providers from and against any and all claims, actions, demands, losses, damages, liabilities, costs, or expenses, including, but not limited to, reasonable attorneys’ fees, legal costs, or settlement amounts, arising out of or in connection with:
Your use or misuse of the Platform or Services;
Any violation or breach of these Terms, including any other applicable terms, conditions, or policies referenced herein.
Any breach of any representation, warranty, covenant, or obligation you have provided under these Terms.
Any violation of applicable laws, regulations, or the rights of third parties, including, but not limited to, intellectual property rights, privacy rights, or other proprietary rights.
Any other party’s access and use of the Platform with your assistance or using any device or account that you own or control. Any content, information, or data you submit, post, upload, or transmit through the Platform or Services, including but not limited to content that is defamatory, infringing, unlawful, or objectionable in nature.
Panora reserves the right, at its sole discretion and expense, to assume the exclusive defence and control of any matter otherwise subject to indemnification under this section. In such cases, you agree to cooperate fully with Panora in the defence of any such matter, including providing all necessary information and assistance to Panora in asserting any available defences. You may not settle any such claim, action, or demand without the prior written consent of Panora.
The indemnification obligations outlined herein are in addition to any other legal or equitable remedies available to Panora, and shall survive the termination, expiration, or suspension of these Terms, as well as your cessation of use of the Platform or Services.
LIMITATION OF LIABILITY
To the fullest extent permitted by applicable law, Panora, its officers, directors, employees, agents, licensors and service providers shall not be liable for any direct, indirect, incidental, special, consequential, punitive, or exemplary damages, including but not limited to damages for loss of profits, goodwill, data, use, or other intangible losses resulting from:
Your access to, use of, or inability to access or use the Platform or Services.
Any unauthorized access to or use of your wallet, data, or any security breaches associated with your wallet.
Any conduct, content, transactions, or interactions with third parties in connection with or related to the Platform or Services, including but not limited to defamatory, offensive, or illegal conduct by other users or third parties.
Any interruption, suspension, downtime, or termination of the Platform or Services, including but not limited to planned maintenance or unforeseen outages.
Any errors, bugs, viruses, or other harmful components that may be transmitted through the Platform or Services, whether caused by Panora or a third party.
Any technical malfunctions, failures, omissions, interruptions, latency, deletions, defects, or failures related to your device, network, software, or any providers that may prevent your ability to access or use the Platform or Services.
Any injury or damage to your computer, device, or other equipment arising from your use of the Platform or Services, including the downloading of materials or accessing content.
Any inability to fully access the Platform or Service or any other third-party website, Platform, or service linked to or integrated with the Platform or Services.
Any other matter related to or arising from your use of the Platform or Services or the use of any third-party services, including but not limited to loss of data, downtime, or other interruptions.
This limitation of liability applies regardless of whether the alleged liability is based on contract, tort, negligence, strict liability, or any other basis, and even if we have been advised of the possibility of such liability. Some jurisdictions do not allow the exclusion of certain warranties or the limitation or exclusion of certain liabilities and damages. Accordingly, some of the disclaimers and limitations set forth in the Terms may not apply to you. This limitation of liability shall apply to the fullest extent permitted by law.
TERMINATION AND SUSPENSION
Panora reserves the right, at its sole discretion, to suspend, restrict, or terminate your access to the Services as well as to the Platform, in whole or in part, at any time and without prior notice if:
You breach any of the terms and conditions outlined in these Terms.
Your account is suspected or flagged for activities related to money laundering, fraud, or any illegal or unauthorized activity.
Your actions or omissions pose a security risk, threaten the integrity or functionality of the Platform or Services, or impact any associated systems.
Suspension or termination is required by law, regulatory authority, or as part of a legal investigation or official request.
Unexpected technical, security, or operational issues arise that necessitate temporary or permanent suspension or termination of access.
Your failure to provide or maintain reporting, API access, or auditability required to verify attributed trades and Fees.
Your engagement in fraud, misrepresentation, or unlawful conduct.
Any other reason Panora deems necessary.
Panora decides, at its discretion, to discontinue or modify the Platform or Services, either temporarily or permanently.
Effect of Suspension
Your access to any functionality associated with the Platform or Services, including transactions, balances, and information, will be temporarily disabled until the suspension is lifted.
During suspension, you will not be able to access, initiate, or complete any transactions within the Services or through any associated accounts.
Suspension does not relieve you of any ongoing obligations, including any fees owed, indemnification obligations, or liabilities arising from prior use of the Platform or Services.
Panora will not be liable to you or any third party for any suspension of your access or any associated loss of data, assets, or other consequences due to the suspension.
Effect of Termination
All associated functionalities, including access to transactions and information linked to your account, will be permanently disabled.
Any remaining balance in your account at the time of termination may be forfeited. Panora reserves the right to restrict access to assets within your account upon termination, with no obligation to return or compensate for such balances.
All rights and licenses granted hereunder shall immediately cease;
Termination does not relieve you of any obligations accrued prior to termination, including any outstanding fees or liabilities arising from your use of the Platform or Services.
You may voluntarily terminate your use of the Services at any time by discontinuing access to the Platform and Services. However, termination does not relieve you of any obligations or liabilities incurred prior to termination.
Panora shall not be liable to you or any third party for any termination of your access, or any loss of data, assets, or other consequences that may result from termination.
Post-Termination
Provisions within these Terms that, by their nature, should survive termination (including, but not limited to, indemnity, limitation of liability, disclaimers of warranties, and intellectual property rights) will remain in effect even after termination or suspension.
The Protocol shall promptly remove references to Panora from its website, platform, and promotional materials.
You remain responsible for any fees, charges, or other obligations incurred before the effective date of termination.
GOVERNING LAW
If you believe a dispute may arise in connection with these Terms, you must first send a written notice of the potential dispute to [email protected] ("Dispute Notice"). Upon receipt of the Dispute Notice, Panora shall have sixty (60) days to review the matter and attempt to resolve the issue amicably.
If the dispute is not resolved within the sixty (60) day period, both you and Panora agree that the dispute shall be subject to the exclusive jurisdiction of the courts of Singapore. These Terms, and any disputes or claims arising out of or in connection with them or their subject matter (including your access to or use of the Platform and Services), shall be governed by and construed in accordance with the laws of Singapore. Class Action Waiver. To the maximum extent permitted by law, you agree that any dispute will be resolved on an individual basis, and that you will not bring or participate in any class, consolidated, or representative action against Panora.
REPORTING
If you identify any vulnerabilities, security issues, or concerns regarding the Platform or Services, please report them promptly by contacting [email protected]. Your cooperation helps us maintain a secure and reliable Platform.
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