Terms of Service

Welcome to Cursic Exchange ('Cursic', 'Platform', 'we', 'us', or 'our'). Cursic operates the high-performance exchange and financial layer designed to price, trade, and distribute Cultural Notes (CN) representing creative momentum and collective cultural belief.

By creating an account, connecting a cryptographic wallet, depositing funds, submitting verification documents, or placing orders on our orderbook, you ('User', 'Participant', or 'You') explicitly agree to comply with and be bound by these Terms of Service ('Terms'), our Privacy Policy, and any supplemental trading rules published on the Platform.

If you do not agree with these Terms, you must immediately cease all access to and interaction with Cursic Exchange.

Cultural Notes (CN) are digital cryptographic units that track the collective market belief, mindshare, and attention momentum of creative assets, musical releases, and cultural milestones.

CNs DO NOT represent shares of stock, debt instruments, bonds, voting equity, partnership interests, or registered investment contracts in Cursic Exchange Inc. or any underlying recording artist.

Holding a Cultural Note does not convey direct ownership of master sound recording copyrights, mechanical reproduction rights, or intellectual property unless explicitly stipulated in an institutional Level 3 publisher agreement.

The market value of a Cultural Note fluctuates based on supply, demand, and cultural sentiment discovered transparently on Cursic's central limit orderbook (CLOB).

In strict compliance with international Anti-Money Laundering (AML), Counter-Terrorist Financing (CFT), and Financial Action Task Force (FATF) standards, Cursic enforces a 4-Tier Customer Due Diligence framework:

• Level 0 (Guest / Unverified): Email or OAuth authentication. Preview, browse, and observe public orderbooks with zero deposit or trading privileges.

• Level 1 (Standard Retail): Full legal name, date of birth, government ID verification, and biometric liveness selfie. Unlocks primary Cultural Drop allocations (up to 2,000 CN cap), live secondary market trading (1% position cap), and daily fiat clearing up to $5,000.

• Level 2 (Advanced / Creator): Proof of address (<90 days) and two-factor authentication (2FA). Unlocks Creator Hub song submission, Respect Reward claims, and expanded fiat deposit/withdrawal limits up to $50,000/day.

• Level 3 (Institutional / Record Label): Corporate certificate of incorporation, Ultimate Beneficial Owner (UBO ≥ 25%) verification, and authorized signatory documentation. Unlocks multi-artist catalog management, wholesale allocations, and custom OTC settlement.

Cursic utilizes deterministic SHA-256 identity fingerprinting ('VerifiedIdentityId') derived from full legal name, date of birth, and document number to prevent sybil account creation and ensure cap enforcement across multiple logins.

Cultural Drops (Cultural Initial Public Offerings / CIPO) represent the primary issuance window where new Cultural Notes are initially made available to verified participants at a fixed release price.

To preserve fair participation and prevent monopolistic cornering of cultural assets, Cursic strictly enforces the following allocation caps:

1. Drop Allocation Cap: Maximum 2,000 CN per verified identity (enforced across all linked accounts via VerifiedIdentityId).

2. Position Cap: Maximum 1% of the total tradable supply per market, configurable by exchange administration.

3. Cumulative Identity Cap: Strict USD notional ceiling per user identity during active CIPO windows.

Orders submitted in excess of these limits will be automatically rejected by the core matching engine before entering the orderbook.

Secondary trading operates via a high-performance central limit orderbook (CLOB) employing price-time priority matching.

Participants may submit Limit Orders (specifying maximum buy or minimum sell prices) or Market Orders (executed immediately against the best available book depth).

Volatility Circuit Breakers: To protect markets against predatory flash crashes and manipulative cascades, Cursic applies dynamic price discovery bands (typically ±15% relative to the reference settlement price). Orders outside these bands are automatically declined.

All matched orders are final and irrevocable upon execution on the double-entry accounting ledger.

A cornerstone of Cursic's economic design is the Creator Respect Allocation protocol mechanism.

On every matched secondary trade, a portion of the transaction value is automatically calculated, deducted from protocol liquidity, and credited directly to the verified original artist or record label's Respect Treasury.

This perpetual value stream aligns fan participation with long-term creator prosperity without burdening artists with administrative overhead.

Artists retain full copyright and moral rights over their original master recordings, audiovisual media, and underlying musical compositions.

Users are strictly prohibited from engaging in abusive, manipulative, or fraudulent trading practices, including but not limited to:

• Wash Trading: Executing non-economic transactions with yourself or coordinated entities to create artificial volume.

• Spoofing & Layering: Placing and rapidly canceling non-bona fide orders to manipulate orderbook depth perception.

• Sybil Exploitation: Creating multiple accounts to circumvent the 2,000 CN drop cap or 1% position limit.

• Front-Running & Latency Arbitrage: Attempting unauthorized exploitation of internal system feeds or API vulnerabilities.

Violations trigger automated circuit breakers, account freezes, forfeiture of illicit gains, and permanent platform blacklisting.

Cursic charges transparent maker and taker transaction fees as displayed on our fee schedule and updated dynamically via exchange configuration.

All internal balances are tracked with micro-precision on an immutable, auditable double-entry ledger that guarantees mathematical solvency at all times.

Deposits and withdrawals are processed in accordance with the user's KYC verification tier. Fiat transactions may require banking clearance and intermediary processing times.

Cursic Exchange is provided on an 'AS IS' and 'AS AVAILABLE' basis without warranties of any kind, whether express, implied, statutory, or otherwise.

To the maximum extent permitted by applicable law, Cursic Exchange Inc., its directors, employees, and affiliates shall not be liable for any indirect, incidental, special, consequential, or punitive damages, including loss of profits, data, goodwill, or financial loss resulting from system maintenance, network latency, or market volatility.

Users are solely responsible for determining the tax implications of their trading activity and complying with all local tax obligations in their relevant jurisdiction.

These Terms shall be governed by and construed in accordance with the laws of the jurisdiction of incorporation of Cursic Exchange Inc., without regard to conflict of law principles.

Any controversy, claim, or dispute arising out of or relating to these Terms or the Platform shall be resolved through confidential, binding arbitration administered under recognized international commercial arbitration rules.

You agree to waive any right to participate in class-action lawsuits or representative collective actions against Cursic Exchange.