Terms of Service

1. Introduction

2. Eligibility

• Must be 18 years or older
• Must have a valid Solana wallet (Phantom recommended)
• Must not be located in a jurisdiction where crypto transactions are prohibited
• One wallet per user

3. Listings & Items

• Sellers must accurately represent items — condition, grading, authenticity
• Photos must be of the actual item being sold
• Prohibited items: counterfeit goods, replicas sold as authentic, illegal items, weapons, drugs, stolen goods, adult content
• Hype Auction does not verify item authenticity — buyers rely on seller representations
• We reserve the right to remove any listing at any time

4. Bidding

• All bids are binding — placing a bid is a commitment to pay if you win
• Bids are off-chain until auction ends — winner pays via Phantom wallet
• Wallet balance is checked before bid is accepted
• Shill bidding (bidding on your own listings) is prohibited
• Bid manipulation of any kind is prohibited

5. Payment

• Winner has 3 attempts to pay: 10 minutes, then 2 hours, then 4 hours
• Payment is made in SOL via Phantom wallet
• SOL is locked in a smart contract escrow — neither party can access it until conditions are met
• Shipping cost is included in the total payment amount
• USD equivalent shown is an estimate based on live SOL/USD rate
• If all payment attempts fail, the seller may choose to offer the item to the next highest bidder or relist the item as a new auction
• Next highest bidders who are offered a win may accept or decline without penalty. A strike is only issued if a bidder accepts an offered win and subsequently fails to pay within the 2 hour payment window

6. Fees

• Platform fee: 4% of total sale amount (item + shipping)
• Fee is deducted automatically on escrow release
• No listing fees
• No buyer fees — fee is paid by seller only

7. Shipping

• Sellers set flat-rate shipping prices in USD, converted to SOL at payment time
• Sellers must ship within 5 days of payment confirmation
• Sellers must upload tracking number within 5 days
• Buyers shipping addresses are shared with sellers only after payment confirms
• International shipping availability is set by the seller per listing

8. Escrow & Refunds

• SOL is held in a Solana smart contract and cannot be accessed by Hype Auction
• Path 1 (tracking uploaded): once delivered, buyer has 3 days to confirm receipt or SOL auto-releases to seller
• Path 2 (no tracking by day 7): order is flagged, admin reviews, may issue refund after checking estimated delivery plus grace period
• Grace periods: domestic orders +5 days, international orders +14 days beyond estimated delivery
• Refunds are processed by admin triggering the smart contract
• All sales are final once SOL is released to seller

9. Disputes

• Buyers may open a dispute within the 3-day confirmation window after delivery
• Disputes are reviewed by Hype Auction admin
• Admin decision is final and binding
• Evidence from the message thread will be considered
• Hype Auction reserves the right to resolve disputes at its discretion

10. Buyer Strike System

• Failure to pay after winning results in a strike on your wallet address
• Strike 1: warning + 24 hour bidding cooldown
• Strike 2 (within 60 days): 7 day bidding suspension
• Strike 3: permanent ban from bidding
• Strikes are tied to wallet address and follow the buyer across accounts
• Strikes expire after 6 months of good behaviour
• Permanent bans may be appealed by contacting support
• Declining an offered win (when original winner didn't pay) does not result in a strike or penalty of any kind

11. Taxes

• Hype Auction does not collect or remit taxes on behalf of users
• Buyers and sellers are solely responsible for applicable taxes in their jurisdiction
• Crypto transactions may be subject to capital gains tax — consult a tax professional
• USD values shown are estimates and should not be used for tax reporting

12. Prohibited Conduct

• Shill bidding or bid manipulation
• Creating fake reviews
• Harassing other users via messaging
• Attempting to complete transactions outside the platform
• Circumventing the escrow system
• Using the platform if banned
• Exploiting bugs or vulnerabilities

13. Intellectual Property

• Hype Auction and its logo are our property
• Users retain ownership of content they upload
• By uploading content you grant us a licence to display it on the platform

14. Limitation of Liability

• Hype Auction is not responsible for item authenticity
• Hype Auction is not responsible for losses due to SOL price fluctuations
• Hype Auction is not responsible for failed transactions due to network congestion
• Hype Auction liability is limited to the platform fee paid on that transaction
• Use the platform at your own risk

15. Governing Law

16. Contact