Terms of Service
Last updated October 7, 2026
1. Experimental software
Aura (useaura.exchange) is an experimental software interface in alpha / MVP testing. It is provided "as is" and "as available", without warranties of any kind, express or implied, including fitness for a particular purpose, availability, or accuracy of prices and quotes. Features may change, pause, or be withdrawn at any time.
2. Eligibility and restricted jurisdictions
You may not use Aura if you are a citizen or resident of, or located in, the United States of America; Cuba, Iran, North Korea, or Syria; the Crimea, Sevastopol, Donetsk, or Luhansk regions; any other jurisdiction where crypto derivatives or options trading is prohibited or restricted; or if you are named on any sanctions list. You must be at least 18 years old. Access from restricted locations is blocked, and you agree not to use VPNs or other means to circumvent these restrictions.
3. What Aura offers
Aura lets you buy daily, cash-settled call and put options on BTC, ETH, and gold through smart contracts on the Arc network. Premiums are paid in USDC and are currently capped at $5 per trade. Each option settles automatically at expiry against the Pyth oracle price; the maximum payout is fixed when you buy. Before expiry you may request an early cash-out at a price quoted by Aura's pricing engine, which includes a spread (currently 1.5%). Early cash-out is offered on a best-effort basis and may be unavailable at times.
4. Risk and no advice
Options are high-risk. An option that expires out of the money pays nothing, and you can lose your entire premium. Prices can move quickly, and quotes, settlement, and payouts can be affected by smart-contract bugs, oracle errors or delays, network or RPC outages, and outages at third-party venues. Nothing on Aura is financial, investment, legal, or tax advice. You use Aura entirely at your own risk and are responsible for any taxes that apply to you.
5. Wallets and funds
You control your own wallet: either an external wallet you connect, or an embedded wallet created for your email login by our wallet provider, Privy. Aura cannot move funds out of your wallet. Premiums you pay are held by Aura's vault smart contract until your option is cashed out or settled, and payouts are paid from that vault to your wallet. Aura operates the keys that sign price quotes and run settlement, and hedges its exposure on the Extended exchange. Settlement may be delayed if the vault temporarily lacks liquidity.
6. Limitation of liability
To the maximum extent permitted by law, Aura and its contributors are not liable for any indirect, incidental, or consequential losses, or for losses caused by smart-contract exploits, oracle failures, third-party outages, price slippage, or your inability to access the interface. Our total liability to you is limited to the premiums you paid through Aura in the 30 days before the claim.
7. Changes
We may update these terms as the product evolves. The date above shows the latest version, and continuing to use Aura after a change means you accept the updated terms.