Last modified: October 21, 2025
These Terms & Conditions (the “Agreement”) govern your access to and use of products and services provided by Alpaca LLC (“Alpaca,” “we,” “our,” or “us“).
Our “Products” include: (a) the Alpaca web interface at (the “Interface” or “App“); (b) the Alpaca mobile applications, if and when offered (the “Mobile App“); (c) programmatic/API access, data services, and support tools; and (d) any other product or service that links to this Agreement.
By accessing or using any Product, you agree to be bound by this Agreement in full. If you do not agree, do not access or use the Products
0. Who may use Alpaca #
To use the Products, you must (i) be able to form a legally binding contract; (ii) be at least the age of majority in your jurisdiction (e.g., 18 in the U.S.); (iii) not be subject to sanctions or on any restricted-party list; (iv) not be a resident, citizen, or organized in a jurisdiction subject to comprehensive sanctions. You are responsible for ensuring your use complies with all laws and regulations applicable to you.
Important: Alpaca currently operates only on the Keeta blockchain (“Keeta”). You should not attempt to use the Products with any other network.
Notice of Arbitration & Class Action Waiver: Section 8 contains a binding arbitration agreement and a class action waiver that affect your legal rights.
1. Our Products #
1.1 Interface & Execution Model (Keeta-only) #
The Interface provides a way to create tokens, discover or create trading pairs, and swap Keeta-native assets via an automated execution engine (“Alpaca Engine“). Trade intents submitted through the Interface are matched and executed by the Alpaca Engine in accordance with automated rules and recorded on Keeta. Today, liquidity pools are operated and administered by Alpaca (not by smart contracts). As Keeta’s smart-contract layer becomes available, we plan to transition pool control and execution to on-chain smart contracts (see §2.2); until then, Alpaca retains administrative control required to operate pools.
Non-custodial keys. You connect a non-custodial Keeta wallet to use the Interface. We do not hold your private keys and cannot access or recover your wallet or assets. Your wallet provider’s terms govern your wallet relationship.
1.2 Token Creation & Fees #
Creators can deploy Keeta-native tokens and initialize a first liquidity pair. Token creators choose: (a) the trader fee share paid to them on each trade of their pair(s); and (b) the liquidity provider (LP) fee share allocated to LPs in that pair. Alpaca displays applicable fees before confirmation.
When a new pool is created, LP tokens representing pool ownership are minted. A fixed 1,000 LP tokens from the creator’s initial LP receipt are burned to help avoid the pool asymptotically collapsing to zero ownership. All other creator-received LP tokens are locked for one (1) month from pool creation or until Alpaca enables public liquidity provision (see roadmap). During the lock, those LP tokens cannot be transferred or redeemed.
1.3 Liquidity Pools and LP Tokens #
Until smart contracts are available on Keeta, Alpaca operates and administers the pool logic off-chain with on-chain event recording. Alpaca (not users) presently controls pool parameters and LP token issuance mechanics. LP tokens evidence a pro-rata economic share of a pool as tracked by Alpaca’s ledgering and Keeta records; they do not represent equity or any other interest in Alpaca.
Impermanent loss. LPs may experience gains or losses (including impermanent loss) due to price changes of the paired assets, fees, and pool parameters.
Operational Control and Transparency #
Until the Keeta Blockchain introduces and supports smart contract functionality, liquidity pools on Alpaca DEX are temporarily managed by Alpaca LLC through an automated off-chain engine developed and maintained by Alpaca LLC.
This engine performs all pool-related operations — including liquidity creation, pricing updates, trade execution, and LP token issuance — according to transparent and deterministic logic fully visible through on-chain transaction records (https://explorer.keeta.com/).
All transactions executed by the automated engine are publicly auditable on the Keeta Blockchain, ensuring transparency and traceability for every pool event, liquidity adjustment, and trade.
Alpaca LLC does not hold or control user wallets or private keys. The automated engine acts solely as a transparent operator facilitating execution based on user-initiated actions and pool configurations, with no discretionary intervention beyond the defined protocol logic.
Once Keeta releases its smart contract functionality, control of liquidity pools will transition to fully decentralized, on-chain smart contracts to remove all centralized operational components.
1.4 Third-Party Services #
Products may link to or rely on third-party services (wallets, explorers, analytics, RPC/providers, price feeds, SDKs). Your use of third-party services is governed by those parties’ terms and policies. We do not endorse or control such services and are not responsible for them.
1.5 Support Tools & Chat #
We may provide support documentation and/or an automated help widget. Support outputs may be inaccurate, incomplete, or outdated and are not legal, tax, or investment advice. Do not share sensitive information via support tools.
2. Changes & Availability #
2.1 Changes to this Agreement #
We may modify this Agreement at any time. We’ll update the “Last modified” date and post the current version at https://alpacadex.com/knowledge/terms/. Changes are effective when posted. Continued use constitutes acceptance.
2.2 Product Evolution; Roadmap Disclosures #
We may add, modify, or discontinue any Product or feature at any time. Roadmap: Alpaca intends to migrate from the current engine-operated pools to smart-contract-based pools and on-chain settlement on Keeta once the required technology is available. Features mentioned as “planned,” “upcoming,” or “on the roadmap” are not guarantees.
3. Intellectual Property #
We own all rights in the Products and their contents (software, UI, text, images, trademarks, designs). Subject to this Agreement, we grant you a limited, revocable, non-exclusive, non-transferable license to use the Products as provided. You may not reverse engineer, copy, modify, or create derivative works except as permitted by law.
If you submit content or feedback to us, you grant us a worldwide, royalty-free license to use, reproduce, modify, and display it to provide and improve the Products.
4. Your Responsibilities #
4.1 Prohibited Activities #
You agree not to:
- Infringe IP or publicity/privacy rights;
- Interfere with or compromise security or operations (e.g., malware, DDoS, API abuse);
- Provide false or misleading information;
- Engage in market manipulation (including rugs, wash trading, spoofing, or pump-and-dump schemes);
- Violate securities/derivatives, AML, sanctions, or other applicable laws;
- Use data mining/scraping contrary to our instructions;
- Post unlawful, harassing, hateful, or obscene content;
- Attempt to circumvent geoblocks, eligibility checks, locks, or limits;
- Use the Products if you are a sanctioned person or from a comprehensively sanctioned jurisdiction.
4.2 Trading & Token Risks #
All trades are unsolicited and self-directed by you. We do not provide investment advice, make suitability determinations, or recommend tokens. Anyone can create a token on Keeta; tokens may be misleading, unaudited, or worthless (including spoofed or “fake” versions). Stable-value claims may fail. Prices are volatile.
4.3 Wallets & Non-Custody #
You control your wallet and seed phrase. We are not responsible for lost credentials, mis-sent transactions, unauthorized access to your wallet, or the security of your device or network.
Seed Phrase Responsibility
You are solely responsible for securely storing your seed phrase/passphrase. Before depositing or transferring any funds into the wallet, you must write down your seed phrase and store it in a secure physical location. We strongly recommend keeping multiple offline backups. We do not store or have access to your seed phrase, and we cannot recover it for you. Any loss of access resulting from misplaced, stolen, or compromised seed phrases is entirely the user’s responsibility.
4.4 Compliance & Taxes #
You must comply with the laws that apply to you. You are solely responsible for determining and paying any taxes that may arise from your use of the Products.
4.5 Network & Protocol Fees #
Transactions on Keeta may require network fees; Alpaca or token-creator fees may also apply. You are responsible for all such fees disclosed at the time of use.
4.6 Release #
To the maximum extent permitted by law, you release Alpaca and its affiliates from claims and damages arising from your use of the Products, including losses due to token risks, price volatility, wallet compromises, chain reorgs, execution delays, or UI/API errors.
5. Disclaimers #
5.1 Assumption of Risk #
By using the Products, you confirm you understand the risks of cryptographic systems, Keeta network mechanics, experimental software, and volatile digital assets. Transactions may be irreversible. The cost and speed of transacting on Keeta may vary. Using “expert” or advanced modes can increase slippage and costs. Providing liquidity involves risk of loss, including impermanent loss.
5.2 Execution Model (Today) vs. Future Smart Contracts #
Today, trades are executed by the Alpaca Engine and recorded on Keeta; liquidity pools are administered by Alpaca. We make no promise of any specific execution priority, best execution, or uninterrupted availability. After Keeta’s smart-contract layer is live and Pools migrate on-chain, execution will be governed by those smart contracts (subject to separate published terms). Until then, you acknowledge the hybrid model and its risks.
5.3 “AS IS” / No Warranties #
THE PRODUCTS AND ANY THIRD-PARTY SERVICES ARE PROVIDED “AS IS” AND “AS AVAILABLE,” WITHOUT WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED (INCLUDING MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT). WE DO NOT WARRANT CONTINUOUS, TIMELY, OR SECURE ACCESS; ACCURACY OR RELIABILITY OF DATA; OR ERROR/VIRUS-FREE SOFTWARE.
5.4 No Investment, Legal, or Tax Advice #
Information shown in the Products (including labels, warnings, analytics, or rankings) is informational only and not advice. You are solely responsible for your decisions.
6. Indemnification #
You agree to indemnify, defend, and hold harmless Alpaca, its affiliates, and their respective officers, directors, employees, contractors, agents, and service providers from any claims, liabilities, damages, losses, and expenses (including reasonable attorneys’ fees) arising from or related to: (a) your use of the Products; (b) your violation of this Agreement or any law; (c) your content or interactions with third parties; or (d) any dispute between you and another user or your own customers.
7. Limitation of Liability #
TO THE MAXIMUM EXTENT PERMITTED BY LAW, ALPACA AND ITS AFFILIATES WILL NOT BE LIABLE FOR INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, EXEMPLARY, OR PUNITIVE DAMAGES; LOST PROFITS; LOSS OF DATA; OR BUSINESS INTERRUPTION, EVEN IF ADVISED OF THE POSSIBILITY. OUR AGGREGATE LIABILITY ARISING OUT OF OR RELATING TO THE PRODUCTS WILL NOT EXCEED USD $100 (OR EQUIVALENT IN LOCAL CURRENCY).
Some jurisdictions do not allow certain limitations; some limitations may not apply to you to the extent prohibited by law.
8. Governing Law; Dispute Resolution; Class Waiver #
8.1 Governing Law & Forum #
This Agreement is governed by the laws of [Governing Law and Venue–e.g., State of Delaware, USA], excluding conflicts-of-law rules. Subject to the arbitration clause below, the exclusive forum for any permitted court action is the state or federal courts located in [Wilmington, Delaware / New York County, New York], and you consent to their jurisdiction.
8.2 Informal Resolution; Arbitration #
Before filing a claim, you must first email us at [contact@alpacadex.com] a description of the dispute; we will try to resolve it informally within 60 days. If not resolved, any dispute arising out of or relating to the Products or this Agreement will be finally resolved by binding arbitration administered by JAMS (or, if JAMS is unavailable, another reputable provider) under its applicable rules. The seat will be [New York, New York / Wilmington, Delaware]. The language is English. The arbitrator may award individual relief only.
8.3 Class Action & Jury Trial Waiver #
You may bring claims only in your individual capacity, not as a plaintiff or class member in any class or representative action. You and Alpaca waive any right to a jury trial.
California consumers: If you primarily use the Products for personal purposes, (i) any California-arising claim will use California substantive law and be arbitrated/adjudicated in California; (ii) qualifying claims may be brought in small-claims court; and (iii) limited discovery will be available per Cal. Code Civ. Proc. §1283.05.
9. Miscellaneous #
9.1 Entire Agreement #
This Agreement is the entire agreement between you and Alpaca regarding the Products and supersedes all prior or contemporaneous agreements.
9.2 Assignment #
You may not assign or transfer this Agreement without our prior written consent. We may assign freely. This Agreement binds permitted successors and assigns.
9.3 Rewards & Promotions #
We may run rewards, incentives, airdrops, or promotions with separate terms. We may change or discontinue such programs at any time.
9.4 Regulatory Status #
Alpaca is not registered as a national securities exchange, broker, dealer, alternative trading system, or investment adviser with the U.S. SEC or any other regulator, and does not broker orders, clear, or settle trades for you. Today’s execution occurs via the Alpaca Engine; once on-chain smart contracts are deployed, execution will occur on Keeta pursuant to those contracts. We make no representation about “best price” or best execution.
9.5 Notices #
We may provide notices by posting to the Interface, in-app messages, or via public channels reasonably likely to reach users. You may contact us at [contact@alpacadex.com]
9.6 Severability #
If any provision is found unenforceable, it will be modified to the minimum extent necessary to make it enforceable, and the remaining provisions will remain in effect.
9.7 Age & Geographic Restrictions #
The Products are intended for users 18+. We may restrict access in certain jurisdictions at our discretion. Use of VPNs or other tools to circumvent restrictions is prohibited.
9.8 KYC/AML, Sanctions & Fraud #
We may (but are not obligated to) implement access controls–including geographic restrictions, feature limitations, or temporary suspension of interface access–to comply with applicable laws, manage operational risk, or protect users.
Such measures apply only to use of the Alpaca interface or related platform services and do not extend to, or interfere with, users’ personal Keeta wallets or assets, which remain entirely non-custodial and under the user’s control.
Future KYC integration.
To enhance trust and reduce risks such as rug pulls, fraud, or malicious activity, Alpaca intends to integrate Keeta’s forthcoming KYC and compliance technology once available on-chain. This system will enable optional or context-specific verification of token creators and liquidity providers in a decentralized, privacy-preserving manner, without compromising the permissionless or non-custodial nature of the Keeta network. Participation in any verification process will be subject to separate, clearly published terms at launch.
9.9 Privacy #
Your use of the Products is also subject to our Privacy Policy available at [contact@alpacadex.com].
10. Keeta-Specific Disclosures #
- Network Dependence. Alpaca relies on Keeta network availability and performance. Network congestion, reorgs, validator issues, or protocol upgrades may delay, reorder, or fail transactions.
- On-Chain Records. Trades, prices, pool events, token mints/burns, and LP ledger updates are recorded on Keeta; indexing delays may affect what you see in the App.
- LP Token Lock & Burn. On pool creation, 1,000 LP tokens are burned. Remaining creator LP tokens are locked for one (1) month or until public liquidity provision is enabled, whichever is later.
- Creator-Set Fees. Token creators select their trader fee share and LP fee share at pair creation. Fees are displayed prior to execution and may change if the creator updates parameters (as permitted by the system).
- Price Discovery. Prices are determined by automated market-making rules and supply/demand. Large orders may incur price impact and slippage.
- Transition to Smart Contracts. After Keeta launches a robust smart-contract layer and Alpaca deploys audited contracts, pool control and execution will migrate on-chain. Migration details and terms will be communicated separately.
Questions? Contact us at [contact@alpacadex.com]
These Terms are provided for information and product-use governance only and do not constitute legal advice. Consider consulting counsel before relying on them in any jurisdiction.
