Welcome to Vaulix ("we", "us", or "our"). By creating an account, accessing, or using the Wallet, you ("User", "you") agree to these Terms & Conditions. Please read carefully.
Vaulix is a UK-based token-based gaming wallet that allows users to acquire, store, transfer and use digital tokens across connected gaming platforms and competitions.
Vaulix tokens are non-monetary digital assets designed for participation in games, competitions and platform activity. Tokens are not fiat currency, are not legal tender, and are not accepted outside the Vaulix ecosystem.
Vaulix enables users to:
- Purchase tokens
- Store tokens within the Vaulix platform
- Transfer tokens to other participants
- Use tokens to enter games, competitions or acquire in-game credits
- Sell unused purchased tokens back to Vaulix under defined conditions
1. Service Overview
The Wallet enables users to:
- Purchase in-game currency points via supported payment methods
- Hold and manage in-game currency balances within your wallet
- Exchange, sell, or send points to other users
- Redeem in-game currency points via keycode
This is a utility-based, non-regulated service. It does not constitute a bank account, e-money service, or regulated payments activity.
Platform and wallet model
Vaulix provides a closed-loop gaming wallet.
Key characteristics:
- Tokens exist only within Vaulix and connected partner gaming platforms
- Tokens cannot be transferred off-platform
- Tokens cannot be used to pay third-party merchants outside the Vaulix ecosystem
- Tokens do not accrue interest and are not marketed as cash equivalents
- The Vaulix wallet records token balances, not fiat balances. Users do not hold cash accounts with Vaulix.
Token issuance and acquisition
Users may acquire Vaulix tokens in the following ways:
- Purchasing tokens directly from Vaulix
- Receiving tokens as competition prizes or rewards
- Receiving tokens via transfers from other Vaulix participants
Funds received from token purchases are treated as Vaulix operating revenue at the point of sale.
Token usage and transferability
Token usage
Tokens may be used to:
- Enter games or competitions
- Acquire non-redeemable in-game credits
- Participate in platform features
Gaming credits:
- Are consumptive only
- Cannot be transferred
- Cannot be redeemed for cash
- Are extinguished on use
Token transfers
Tokens may be transferred between Vaulix users within the platform.
Transfers:
- Are internal only
- Do not represent settlement of goods or services
- Do not create an automatic right to cash redemption
- Are subject to platform limits, controls and monitoring
Token resale / buy-back mechanics
Vaulix may allow users to sell unused tokens back to Vaulix, subject to strict conditions.
Key characteristics:
- Only tokens originally purchased by the user are eligible for resale
- Minimum resale threshold applies
- Resale is not instantaneous and may be subject to cooling-off periods
- Vaulix reserves discretion to approve or decline resale requests
- Resale prices are fixed and not market-driven
- Token resale is treated contractually as a commercial repurchase of platform tokens, not as a withdrawal of stored funds.
- There is no guarantee of resale availability or timing.
2. Not a Regulated Financial Product
The Wallet is not regulated by any financial services authority in this jurisdiction.
It does not provide deposit protection, safeguarding, or guarantees under financial compensation schemes.
In-game currency points do not constitute real-world money, e-money, or digital assets under applicable law.
3. Payment Processing
Payments are processed by third-party provider Stripe. We do not manage your payment card or bank account data.
You must comply with Stripe's own Terms of Service in relation to all transactions.
Specifically:
- Users do not hold fiat balances with Vaulix
- Tokens are not fiat, e-money or stored monetary value
- Tokens do not represent a guaranteed claim on funds
- Redemption is conditional, discretionary and subject to thresholds
Vaulix does not operate as:
- An electronic money issuer
- A payment institution
- A money transmission service
4. Exchange and Matching Process
We operate a best endeavour basis to match your buy/sell/exchange requests to the most favorable rate available at the time of the order.
Vaulix tokens are 1:1.
When you buy points on our platform you are locking in a rate to purchase points, however only at the point of redemption is your order executed and fully confirmed, if the price of the points has increased, or stock is not available, we will notify you and require you to top-up to meet the requirements for redemption.
Once matched, your order is locked and may not be reversed.
Exchange rates and availability are based on market supply and may fluctuate at any time without notice.
Conversion rates for exchange are based on pre-defined points structure based on marketplace data.
If there is not enough balance to order match and redeem a points order, despite initially locking this in (due to exchanging, selling or sending), users will need to top-up enough local currency to meet minimum criteria for redemption, else redemption cannot be funded, or receive additional points value from other users.
5. No Refunds or Cancellations
All transactions are final. Once points are purchased, exchanged, sold, or sent, no refunds, reversals, or cancellations will be issued.
You are responsible for ensuring the correctness of all details before confirming a transaction.
6. Use at Your Own Risk
You acknowledge that the Wallet is provided on an "as-is" and "as-available" basis.
We do not guarantee the availability or continued operation of any specific in-game currency or platform.
We are not liable for failed transactions caused by network, technical, or third-party service errors.
7. Account Responsibility
You are responsible for keeping your login credentials secure.
You may not use the Wallet for any unlawful activity, including fraud, money laundering, or abuse of gaming platforms.
8. Termination
We reserve the right to suspend or terminate your account at our discretion, especially in cases of suspected abuse, fraud, or non-compliance with these Terms.
9. Limitation of Liability
We shall not be liable for any indirect, incidental, or consequential losses arising from your use of the Wallet, including but not limited to lost profits, data, or business opportunities.
10. Changes to These Terms
We may update these Terms from time to time. Continued use of the Wallet constitutes acceptance of the revised Terms.
11. Governing Law
These Terms are governed by the laws of the applicable jurisdictions, upon which we operate. Any disputes will be resolved in the courts.
12. Contact Us
If you have questions about these Terms, contact us directly via our ticketing portal.