DRX Terms of Service

1. Introduction

Welcome to DRX (“DRX,” “we,” “us,” or “our”), a platform that facilitates secure and efficient trading of virtual gifts between users (“users,” “you,” or “your”) on BIGO LIVE. These Terms of Service (“Terms”) govern your access to and use of our services. By accessing or using DRX, you agree to be bound by these Terms. If you disagree with any part of the Terms, then you may not access the platform.

2. Relationship with BIGO LIVE

DRX is a separate and independent entity from BIGO LIVE. We are not affiliated with, endorsed by, or in any way officially connected with BIGO LIVE. While our service operates within the BIGO LIVE environment to facilitate trades, we are solely responsible for the operation and maintenance of DRX and its features. Your use of BIGO LIVE is subject to their separate Terms of Service and Community Guidelines, which you should review and comply with.

3. User Responsibilities

3.1. Compliance with BIGO LIVE Guidelines: All users of DRX are required to fully comply with the BIGO LIVE Community Guidelines and Terms of Service. Any violation of these guidelines may result in consequences on both BIGO LIVE and DRX, including but not limited to, account suspension or termination.

3.2. Accurate Information: Users are responsible for providing accurate information when initiating and completing trades. Misrepresentation or fraudulent activity will result in account suspension or termination.

3.3. Trade Completion: All users are expected to complete trades in a timely and responsible manner by the agreed-upon deadline. Failure to do so may result in penalties as outlined in Section 6.

4. Security Deposit

4.1. Purpose of Deposit: To ensure the integrity of trades and protect both buyers and sellers, DRX requires a security deposit from the seller for each trade they initiate. This deposit acts as a form of collateral to discourage fraudulent activity and ensure that sellers fulfill their obligations.

4.2. Deposit Amount: The deposit amount is currently $20 for every 1,000 diamonds being traded. DRX reserves the right to adjust the deposit amount at its discretion.

4.3. Payment Methods: DRX accepts security deposits through the following secure peer-to-peer payment methods: Cash App, Venmo, Zelle, and Apple Pay. By using these payment methods, you agree to their respective terms and conditions. DRX is not responsible for any issues or disputes arising from the use of these third-party services.

4.4. Deposit Refund: Upon successful completion of a trade, the security deposit will be refunded to the seller’s original payment method instantly. The refunded deposit can be used for subsequent trades.

4.5. Deposit Forfeiture: In the event a seller fails to complete a trade as agreed, the security deposit may be forfeited. See Section 6 for details on consequences for failure to complete trades.

5. Trade Process and Broker Services

5.1. Trade Initiation: Trades are initiated through the DRX platform, where sellers specify the details of the virtual gifts they are offering and the desired payment.

5.2. Broker Assistance: DRX Brokers act as intermediaries to facilitate trades, provide guidance, and ensure a smooth and secure process. Brokers may earn commissions on successful trades.

5.3. Real-time Alerts: DRX provides real-time trade alerts and reminders via text message to keep users informed of trade progress and deadlines.

5.4. Trade Completion: Trades are considered complete when both parties have fulfilled their obligations as agreed.

6. Failure to Complete Trade

6.1. Consequences: If a seller fails to complete a trade by the agreed-upon deadline, they may face the following consequences:

  • Forfeiture of security deposit: The security deposit will be forfeited and may be used to compensate the buyer for the failed trade.
  • Loss of any commissions paid to the Broker: Any commissions paid to the Broker for facilitating the trade will also be forfeited.
  • Account suspension and a $50 reinstatement fee: The seller’s account will be suspended, and a $50 reinstatement fee will be required to regain access to the platform.
  • Increased security deposit for future trades: Upon reinstatement, the seller may be required to place a higher security deposit for future trades.
  • Account Termination: DRX reserves the right to terminate any account that repeatedly fails to complete trades or engages in any behavior that jeopardizes the security and integrity of our trading platform. There is no expectation of reinstatement once an account has been terminated.

6.2. No Leniency: DRX cannot grant exceptions for missed trades. Our platform’s success relies on users honoring their commitments.

7. Disclaimer of Warranties and Liabilities

DRX provides a platform for facilitating trades but does not endorse or guarantee the quality, safety, or legality of any virtual gifts offered by users. We are not responsible for any disputes, losses, or damages that may arise from transactions conducted through our platform. Users are solely responsible for their actions and should engage in trades with caution and awareness.

8. Privacy Policy

DRX collects and uses personal information in accordance with our Privacy Policy, which is incorporated into these Terms. By using DRX, you consent to our collection and use of your information as described in the Privacy Policy.

9. Modifications to the Terms

DRX reserves the right to modify these Terms at any time. We will post the updated Terms on our platform, and your continued use of DRX following the posting of any changes constitutes acceptance of those changes.

10. Governing Law and Dispute Resolution

These Terms shall be governed by and construed in accordance with the laws of the State 1 of Florida, without regard to its conflict of law provisions. Any 2 dispute arising out of or relating to these Terms or the use of DRX shall be settled in the state or federal courts located in Georgia, United States of America.