Rung Terminal — End User Licence Agreement

This Agreement is between you and Rung Terminal ("we", "us"). It covers the Rung Terminal desktop application and any update to it (the "Software").

By installing or running the Software you accept this Agreement. If you do not accept it, do not install or run the Software.

1. What Rung Terminal is — and is not

Rung Terminal is an independent third-party client for Polymarket. It is not published, endorsed, operated, reviewed, or supported by Polymarket, and we have no affiliation with Polymarket or with any other venue the Software connects to. All venue names and marks belong to their owners.

The Software is a user interface. It does not hold your funds, does not trade on its own behalf, and is not a broker, exchange, custodian, market maker, clearing house, or financial intermediary. Every order it places is your order, placed by you, on a venue with which you have your own direct relationship and your own agreement.

2. Licence

We grant you a personal, limited, revocable, non-exclusive, non-transferable, non-sublicensable licence to install and run the Software on devices you control, for your own trading.

The Software is licensed, not sold. Everything not expressly granted here is reserved.

3. What you may not do

You may not:

copy, publish, distribute, sell, rent, lease, lend, sublicense, or otherwise make the Software available to anyone else, including over a network or as a hosted or managed service;
modify the Software or create derivative works from it;
remove, obscure, or alter any copyright, trademark, or licence notice in the Software or in the files that ship with it;
reverse engineer, decompile, or disassemble the Software, or otherwise attempt to derive its source code, except to the extent applicable law gives you a right you cannot contract away. In the European Union, Article 6 of Directive 2009/24/EC permits decompilation for interoperability on the conditions stated there, and nothing in this Agreement restricts that right;
circumvent, disable, or interfere with any licensing, authentication, rate limiting, or access-control mechanism in the Software or in our infrastructure;
use the Software to attack, overload, scrape at abusive rates, or otherwise interfere with any venue or third-party service;
use the Software to build, train, or evaluate a competing product, or to benchmark it for publication without our written consent.

4. Your keys, your funds

The Software is non-custodial. Private keys and credentials stay on your device.

We never take custody of your funds and cannot move, freeze, reverse, or recover them.
If you lose your key, your funds are gone — for you and for us. Keeping a backup is entirely your responsibility.
Anyone with access to your unlocked device may be able to trade your account through the Software. Securing your device is your responsibility.
We will never ask you for your private key or seed phrase. Anyone who does is attacking you.

5. Trading risk — read this

Trading prediction markets can lose you all of the money you put in.

Nothing the Software displays or does is investment, financial, legal, or tax advice, and nothing in it is a recommendation to enter, size, or exit any position. We are not licensed financial advisers and we do not know your circumstances.
Market data, prices, sizes, depth, profit-and-loss figures, fee estimates and every other number the Software shows are provided for convenience and may be delayed, incomplete, or wrong. The venue's own record is the authoritative one. Do not rely on the Software as your only source of truth for a position, a balance, a fee, or a filled order.
Software fails. Orders may fail to send, may send twice, may fill at a price you did not expect, may fill partially, or may not be cancellable when you need them to be — through defects in the Software, network failure, venue outages, or your own device. You accept that risk when you trade through it.
Features that act quickly — one-click order entry, hotkeys, and any preset size — remove the confirmation step deliberately. That is their purpose and their risk, and enabling them is your decision.
You are responsible for every order placed from your account, including orders resulting from your mistake, your misreading of the interface, or a defect in the Software.

6. The venue's rules are binding on you

The Software connects to Polymarket, which is operated by Adventure One QSS, Inc. You have your own direct agreement with them — Polymarket's Terms of Use, at https://polymarket.com/tos — and this Agreement does not replace, modify, or override it. Read it. Where the two conflict, theirs governs your relationship with them.

Some parts of it we must draw to your attention, because breaching them can cost you your wallet:

6.1 Restricted territories. Polymarket does not permit trading by persons or entities who reside in, are located in, are incorporated in, have a registered office in, or have their principal place of business in the United States of America, Alberta, Australia, Belgium, British Columbia, France, Germany, Hungary, Ireland, Italy, Ontario, Poland, Quebec, Russia, Singapore, Slovakia, Slovenia, Taiwan, Thailand, the Netherlands, New Zealand, the United Kingdom, or any other territory they designate. That list is theirs and can change; the current one is published at https://docs.polymarket.com/api-reference/geoblock.

You represent that you are not a restricted person.

6.2 No circumvention. Polymarket's terms prohibit using a VPN or any other privacy or anonymisation tool or technique to circumvent, or attempt to circumvent, their restrictions. You must not use the Software — including any connection-routing feature in it — to do that. Polymarket states that anyone in violation may have their wallet placed in close-only mode and be barred from the platform, at their sole discretion. Any connection routing the Software offers exists for reliability and latency and is not a permission to trade from a place you may not trade from. If you use it for that, the consequence is yours.

6.3 Data. Market data reaching you through the Software comes from Polymarket and remains theirs. You may use it to trade your own account. You may not sell, resell, sublicense, redistribute, or otherwise commercially exploit it — in particular not to any capital markets firm or market data distributor — because that is prohibited by their terms and we cannot grant you a right we do not have.

6.4 Professional use. Polymarket's terms restrict API access by non-retail professional entities engaged in capital markets activities without their written agreement. If you are one, that is between you and them, and running the Software does not change it.

6.5 Sanctions and law. You are responsible for complying with the laws of your own country and of any country you use the Software from, including laws on prediction markets, gambling, derivatives, securities, and taxation, and with applicable sanctions and export-control law. You represent that you are not located in, ordinarily resident in, or acting on behalf of anyone in, a comprehensively sanctioned jurisdiction, and that you are not on any restricted party list.

We do not advise on any of this, and making the Software available to you is not a statement that your use of it is lawful where you are.

7. Fees

7.1 Builder fees. Polymarket's Builder Program lets an application that routes orders attach a builder code and collect a builder fee on matched orders. Where the Software attaches ours, that fee is a flat percentage of the notional of your trade, charged in addition to any Polymarket platform fee — it never replaces one.

The rates in force are published at https://rungterminal.com/fees and are shown in the Software before you commit an order.
Polymarket caps these at 100 bps (1%) on taker orders and 50 bps (0.5%) on maker orders, and gates changes: at most one change every 7 days, taking effect 3 days after it is scheduled. We will not exceed those caps, and we will not attempt to change a rate faster than that gating allows.
Polymarket may revoke a builder's ability to charge a fee at any time, in their sole discretion.

7.2 Third-party costs. Venue platform fees, network and gas costs, spreads, and any bridge or conversion cost are set by third parties, not by us, and are not ours to waive or refund.

7.3 No refunds. Fees already collected on an executed trade are not refundable, because the trade cannot be undone.

8. Third-party services

The Software connects to services we do not operate — venue APIs, market data feeds, wallet providers, bridges, and public blockchain networks. Those services have their own terms, may change or fail without notice, and may restrict or terminate your access for reasons that have nothing to do with us. We are not responsible for them, and their failure is not our breach.

9. Availability, updates, and pre-release builds

We are under no obligation to provide the Software, updates, or support, and may change, suspend, or discontinue any part of it at any time. Pre-release, beta, and preview builds are provided for evaluation, may be unstable, and may contain defects that affect live trading. Do not trade size on a beta build that you are not prepared to lose.

10. Data and privacy

What the Software collects, stores, and transmits is described in the privacy statement at https://rungterminal.com/privacy, which forms part of this Agreement. Market data, account queries, and order flow necessarily pass between your device and the venues you choose to connect to.

11. Feedback

If you send us suggestions or feedback, we may use them without restriction and without owing you anything. You keep whatever rights you had; you are simply not charging us for the idea.

12. No warranty

THE SOFTWARE IS PROVIDED "AS IS" AND "AS AVAILABLE", WITHOUT WARRANTY OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING WITHOUT LIMITATION THE IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, ACCURACY, QUIET ENJOYMENT, AND NON-INFRINGEMENT. WE DO NOT WARRANT THAT THE SOFTWARE WILL BE UNINTERRUPTED, TIMELY, SECURE, OR ERROR-FREE, THAT DEFECTS WILL BE CORRECTED, OR THAT ANY DATA IT DISPLAYS IS ACCURATE, COMPLETE, OR CURRENT.

13. Limitation of liability

TO THE MAXIMUM EXTENT PERMITTED BY LAW, WE WILL NOT BE LIABLE FOR ANY TRADING LOSSES, LOST PROFITS, LOST OPPORTUNITY, LOST OR CORRUPTED DATA, LOST KEYS OR FUNDS, LOSS OF GOODWILL, OR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, PUNITIVE, OR EXEMPLARY DAMAGES ARISING OUT OF OR RELATING TO THE SOFTWARE, HOWEVER CAUSED AND ON ANY THEORY OF LIABILITY, EVEN IF WE HAVE BEEN ADVISED OF THE POSSIBILITY.

OUR TOTAL AGGREGATE LIABILITY ARISING OUT OF OR RELATING TO THE SOFTWARE WILL NOT EXCEED THE GREATER OF (A) THE TOTAL AMOUNT YOU PAID US IN THE TWELVE MONTHS BEFORE THE EVENT GIVING RISE TO THE CLAIM, OR (B) USD 100.

Some jurisdictions do not allow the exclusion of certain warranties or the limitation of certain damages. Where that is so, the exclusions and limitations above apply only to the extent permitted, and nothing in this Agreement limits liability for fraud or fraudulent misrepresentation, for death or personal injury caused by negligence, or for anything else that cannot lawfully be limited. Where you deal as a consumer, this Agreement does not affect your mandatory statutory rights.

14. Indemnity

You will indemnify and hold us harmless from any claim, loss, liability, or cost (including reasonable legal fees) arising from your use of the Software, your breach of this Agreement, your breach of any venue's terms — including sections 6.1 to 6.5 above — or your violation of any applicable law.

This is not boilerplate. Polymarket's terms require an application that routes orders to indemnify them for the conduct of that application's users. Where your breach of their terms creates a liability for us, this section is what puts it back where it belongs.

15. Ownership

We retain all right, title, and interest in the Software, including all intellectual property rights in it. This Agreement grants you no rights in our source code, trademarks, brand, or design.

16. Termination

This licence terminates automatically if you breach any part of it, and we may terminate it at any time on notice. On termination you must stop using the Software and delete all copies. Sections 4, 5, 6, 7.3, 11, 12, 13, 14, 15 and 17 survive termination.

17. General

Entire agreement. This Agreement, with the privacy statement and NOTICE.md, is the entire agreement between you and us about the Software, and replaces any earlier understanding about it.

Severability. If a provision is held unenforceable, it is modified to the minimum extent needed to make it enforceable, or severed, and the rest remains in force.

No waiver. Our failure to enforce a provision is not a waiver of it.

Assignment. You may not assign or transfer this Agreement. We may assign it in whole to a successor — including a company later incorporated to operate Rung Terminal — or in connection with a merger, reorganisation, or sale of the business. Your rights under it are unaffected by such a transfer.

Changes. We may issue a new version of this Agreement. Each version carries a version number and an effective date, and the current one ships with every build of the Software and is published at https://rungterminal.com/eula. Material changes are announced in the release notes and in the Software. A new version applies to you from its effective date if you keep using the Software; if you do not accept it, stop using the Software and delete your copies. A new version never applies retroactively to anything that happened before its effective date.

Governing law. No governing law or forum is designated in this version. In its absence, the applicable law and competent court are determined by the ordinary conflict-of-law rules of the place where a dispute is brought. A future version will designate them; per Changes above, that designation will apply from its effective date and not before.

Contact. legal@rungterminal.com

Third-party components included in the Software and their licences are listed in NOTICE.md, with full licence text in THIRD-PARTY-LICENSES.html, which ships in the same archive as the executable.