Terms of Use

1About these terms

These terms are an agreement between you and the MLX Network operator, MLX Foundation, registered at Zeughausgasse 7A, 6300 Zug, Switzerland (“we”, “us”). They cover mlx.app, wallet.mlx.app (the MLX Wallet), explorer.mlx.app (the Explorer and its open data API), distributor.mlx.app, MLX Node for Mac, MLX.app for iPhone and iPad, the MLX Bench script, and the MLX Network ledger we run (together, “MLX” or “the service”).

By creating a wallet, buying a dedicated seat, depositing, trading or otherwise using MLX, you accept these terms, our Privacy Policy and our Risk Disclosure. If you don’t agree, please don’t use MLX.

Distributors also agree to the Distributor Terms. Builders who apply for grants or Builder seats also follow the rules shown on the Builders page.

2Who can use MLX

You can use MLX only if all of these are true:

• You are at least 18 years old and old enough to enter a binding contract where you live.
• You are not located in, resident in, or a citizen of a restricted place: [Restricted jurisdictions, e.g. sanctioned countries and any others counsel lists].
• You are not a [Restricted persons, e.g. US persons, if counsel advises].
• You are not named on, or owned or controlled by anyone named on, a sanctions list (see sanctions and checks).
• Using MLX is legal for you where you live, including buying dedicated seats and holding or trading digital tokens.

You may not use a VPN or any other tool to hide where you are in order to get around these limits. If you use MLX for a company, you confirm you are authorised to bind it, and “you” includes that company.

3Mainnet

MLX Network has been on mainnet since 18 October 2026. You can create a wallet, buy dedicated seats, deposit, buy or sell MLX on the spot market, and run MLX Node on a Mac, which earns compute rewards for AI work. Mined MLX is locked from the day it is earned. MLX.app for iPhone and iPad is the companion to MLX Node: it shows the Macs linked to your wallet and lets you pause them or set their limits. It has no wallet features yet.

MLX is still being built. Audits of results, slashing, paid jobs from clients, independent routers and wallet features in MLX.app are still to come, and features may change, arrive late or be withdrawn. The ledger is run by a single sequencer we operate (see the MLX ledger).

4Your wallet and your keys

The MLX Wallet is self-custodial for your key. Your wallet’s secret is created on your device and stored as a passkey (synced by your passkey provider, such as iCloud Keychain or Google Password Manager) and as a 24-word recovery phrase that only you see. While your wallet is unlocked, the secret is kept in that browser tab’s session memory and cleared when the wallet locks or the tab closes.

• Keep your recovery phrase offline and private. Anyone who has it controls your wallet. We will never ask for it.
• You are responsible for every transaction signed with your wallet, and for the security of your devices and your passkey provider account.
• Wallet names (like alex.mlx) are first come, first served and public. Don’t pick a name that impersonates someone else or infringes their rights. We may refuse to show, or ask you to move away from, a name that does.

Self-custody covers your key only. Balances of USDC on MLX are a claim on reserves we hold (see USDC on MLX), and the ledger they live on is run by us (see the MLX ledger).

5The MLX ledger and the Explorer

For now, MLX Network is a ledger run by a single sequencer we operate. It orders transactions, applies the protocol rules and seals hash-linked, signed blocks about once a minute. Anyone can check every account, seat, block and transfer on the Explorer and through its open data API.

• Everything on the ledger is public: wallet names, balances, dedicated seats (including the device details and country you pledge), transfers, trades and withdrawal addresses.
• We may pause the ledger, delay transactions, or refuse a transaction that breaks the protocol rules or these terms. If a software error or an attack corrupts the ledger, we may need to correct it. We will try to preserve balances that came from valid transactions, and we will explain what we did.
• The Explorer’s data is provided as is. Please don’t overload the API; we may rate-limit or block heavy use.

6Dedicated seats: what you buy and what you don’t

A dedicated seat (formerly called a node) is a record on the MLX ledger. When you buy one and your payment confirms, you get:

• a seat number, in the order seats are bought, and the tier you chose; and
• the right to link a Mac of the tier’s class (any Mac with Apple silicon for a Nano or Lite seat) to your wallet so its MLX Node can earn compute rewards for that seat (see the MLX token).

A Latest edition is for Apple’s newest chip in the tier’s class: it costs 1.5× the price and carries 1.5× the compute weight. Nano and Lite are starter seats: any Mac with Apple silicon carries them at their full weight, and they have no Latest edition. “Mines up to” is a cap, not a promise: what a seat earns depends on the Mac’s verified work and on the compute pool’s release (see the MLX token). The lock in the table applies to the MLX your Macs mine while you hold the seat.

No up-front reward. Since 20 October 2026 at 15:00 UTC, a dedicated seat pays no MLX when it is bought, and no referral bonus is paid to the wallet that invited you. Seats bought before then received a seat reward in locked MLX on the protocol’s halving curve (and their referrer 10% of it); those rewards stay as recorded. A seat bought after that time that was still credited with a reward had it returned to the rewards pool by a public seat_reward_return transaction; the seat itself, its tier and its mining rate are unchanged.

What a dedicated seat is not. A dedicated seat is not a share, a security, a loan, a deposit or a partnership interest. It gives you no ownership of us, no vote, no share of our revenue or profits, and no claim on any hardware. We do not promise that you will earn anything, that there will be demand for compute, that your device will be given work (sending paid AI jobs to Macs with dedicated seats first is planned, not promised), or that MLX will have any value when it unlocks.

The device details you give at checkout (device class, chip, memory and the like) are a pledge of the device you plan to connect. Mainnet may set requirements a device must meet, and these may change.

Payment details, quotes and the 30-minute payment window are under deposits. Except where the law requires otherwise, seat purchases are final once confirmed. [Refund and cooling-off policy, if any, as advised by counsel]

Seats granted for free through the Builders program carry the same lock and rules.

7The MLX token

MLX is a digital token recorded on the MLX ledger, with a fixed total supply of 10,000,000,000. It is intended to be used on MLX Network to reward the devices that provide compute and, once client jobs open, to pay for compute.

Compute rewards started on 17 October 2026. MLX a device earns for compute work is locked from the day it is earned (anything earned before mainnet, from its start): 30 days if the wallet holds no dedicated seat, otherwise the lock-in of its shortest-locked seat (3 to 20 days). It can’t be sent or sold until then. Lock-in periods are protocol settings and may change for locks made after a change; locks shortened on 19 October 2026 were re-dated on the ledger, and no change lengthens a lock already made. What a Mac earns depends on its availability, the verified work it delivers, how its answers agree with other Macs’ and the dedicated seats its wallet holds. Each seat runs on one linked Mac and earns at the smaller of the seat’s class and the Mac’s (Core, Pro or Ultra; a Latest seat’s extra rate needs Apple’s newest chip in its class); a Nano or Lite seat earns its full weight on any Mac with Apple silicon; a Mac whose wallet holds no dedicated seat runs on a free seat and earns at a twentieth of a Core seat’s weight, and gets AI jobs at a throttled, sporadic pace. We may change these rules. Locked MLX, earned or rewarded, can be slashed after a confirmed fault. USDC paid for jobs is not locked. [Counsel to review compute rewards, seat classes and their locks]

• MLX is not money, legal tender, a deposit or a security issued by us, and it gives you no rights against us beyond these terms.
• MLX exists only on the MLX ledger. We do not promise it will be listed on any exchange or bridged to another blockchain.
• Its allocation and emission are described on the Token page and in the whitepaper. The protocol may change.

8The spot market and why prices can go down

The protocol makes a market in MLX along its emission curve (a bonding curve). There is no order book and no other trader on the other side: you buy from and sell to the protocol’s treasury at a price set by a formula.

• Buying costs the curve price plus a premium, currently 25%. Buying moves the network’s position forward, so the price rises for the next buyer.
• Selling pays the curve price minus a discount, currently 10%. Selling moves the position back, so the price falls for everyone.
• The minimum buy is 1 USDC and the minimum sale is 1 MLX. Spot MLX is not locked; locked MLX can’t be sold until it unlocks.
• Each trade shows you a quote and a price limit. If the price moves past your limit before the trade is sealed, it fails rather than filling at a worse price.

Sales are paid from the treasury’s USDC. If the treasury is short, a sale may be refused or limited. We may change the premium and discount, set limits, or pause the spot market, for example during an error, an attack or unusual activity. New settings apply to trades quoted after the change.

9Deposits, USDC on MLX and withdrawals

Deposits and payments

You can pay for dedicated seats and deposit with the coins shown at checkout, currently: USDC, USDT, SOL on Solana; USDT, TRX on Tron; USDC, USDT, ETH on Ethereum; USDC, USDT, BNB on BNB Smart Chain; BTC on Bitcoin. Each payment has a quote with an exact amount to send. Coins that aren’t stablecoins are priced at the live rate when the quote is made, and the quote holds for 30 minutes. Deposits are $10 to $100,000 each.

• Whatever coin you deposit is credited as USDC on MLX at the quoted dollar value. Seat payments create the seat instead.
• Send exactly the quoted amount, of the quoted coin, on the quoted network, before the quote expires. A payment that is late, short, on the wrong network or of the wrong coin may not be matched automatically and may be lost. We will try to help, but we can’t promise to recover it.
• Blockchain transactions can’t be reversed. You pay your own network fees.

What USDC on MLX is

We keep reserves in [Reserve assets and custody arrangements]. [Reserve reporting or attestation, if any]

Withdrawals

• You can withdraw USDC on MLX as USDC (SPL token) to a Solana address. Other coins and networks aren’t supported for withdrawals.
• The minimum withdrawal is 10 USDC and the fee is 1 USDC. The amount and fee move to an escrow account on the ledger when you ask.
• For now, withdrawals are reviewed and paid by hand. We aim to pay within [Withdrawal processing time], but it may take longer, for example for compliance checks.
• If we reject a withdrawal, the amount and the fee go back to your MLX balance.
• Check the address carefully. A payment sent to the address you gave is final, even if the address is wrong.

10Fees

Today, MLX charges:

Your own wallet, exchange and blockchain may charge network fees; those are yours. We may change our fees for the future. Every fee is shown before you confirm, and a change never applies to a transaction already quoted.

11What you must not do

• Break any law, or use MLX for money laundering, terrorist financing, fraud, sanctions evasion or the proceeds of crime.
• Use someone else’s wallet, payment method or identity without permission, or open wallets to get around limits or bans.
• Manipulate the spot market, referral or distributor rewards, or analytics, for example with fake accounts, wash trading or self-referral.
• Attack, probe or overload MLX, its API or its infrastructure, or exploit a bug instead of reporting it to us.
• Copy or scrape MLX in a way that harms the service, or present MLX as affiliated with Apple or anyone else it isn’t.
• Make claims to others about MLX, dedicated seats or the MLX token that are misleading, including promises of returns.

If you find a security issue, please tell us at contact@mlx.app. We won’t take action against good-faith research that avoids harm to users and gives us reasonable time to fix the problem.

12No investment, legal or tax advice

Nothing on MLX, from us, from distributors, or in our community channels is investment, financial, legal or tax advice, or a recommendation to buy or sell anything. Figures on the site, such as the thesis, network value scenarios and AAPL charts, are illustrations with their sources and assumptions shown; they are not forecasts. Decide for yourself, and get independent advice if you need it.

Taxes. You are responsible for any taxes on your use of MLX, including on dedicated seats, rewards and trades, and for reporting them.

13Sanctions, anti-money-laundering and checks

We must comply with sanctions and anti-money-laundering laws. To do so we may screen wallets, payments and withdrawal addresses, and ask you for information about who you are and where your funds come from. [Identity verification thresholds and process, as advised by counsel]

If you don’t provide what we ask for, or if we have reason to believe a payment or account is linked to sanctions, crime or a breach of these terms, we may delay or refuse transactions and withdrawals, freeze the related balance on the MLX ledger, return funds to their source where possible, and report to the authorities as the law requires. We may not be allowed to tell you why.

14Risks

Using MLX carries real risks, including losing everything you put in. Please read the Risk Disclosure before you buy a dedicated seat, deposit or trade. It is part of these terms.

15Intellectual property and Apple

We, or our licensors, own the MLX name, logos, site, software and content. We give you a personal, revocable, non-exclusive licence to use them to use MLX as these terms allow. Open-source parts are under their own licences. Data on the public ledger may be used freely; please credit MLX when you publish it.

MLX Network is independent and is not affiliated with, endorsed by or sponsored by Apple Inc. Apple, Mac, iPhone, iPad, Apple Silicon and related marks belong to Apple Inc. MLX is also the name of Apple’s open-source machine learning framework, which MLX Network uses but does not own.

If you send us ideas or feedback, we may use them without owing you anything.

16Other services you use with MLX

MLX relies on services we don’t control: blockchains (Solana, Ethereum, BNB Smart Chain, Tron, Bitcoin), the wallet apps and exchanges you pay from, your passkey provider, and your device’s operating system. Their terms apply to your use of them, and we are not responsible for their outages, fees, errors or losses.

17Suspension and ending

You can stop using MLX at any time. Your wallet and on-ledger balances stay yours; you can withdraw USDC on MLX as described above, subject to these terms.

We may suspend or limit your access, or refuse transactions, if you break these terms, if the law requires it, or to protect users or the network. Where we can, we will tell you why and give you a chance to respond. If we close the service, we will give reasonable notice and a way to withdraw USDC on MLX balances, subject to compliance checks.

18Disclaimers

MLX is early-stage software provided “as is” and “as available”. To the extent the law allows, we make no promises that it will be uninterrupted, error-free or secure, that data shown is complete or current, or that it will meet your needs, and we disclaim implied warranties of merchantability, fitness for a particular purpose and non-infringement. Nothing in these terms limits rights you have under consumer law that can’t be limited.

19Limits on our liability

To the extent the law allows:

• We are not liable for indirect or consequential losses, or for lost profits, revenue, data, opportunity or goodwill.
• We are not liable for losses caused by things outside our reasonable control, by your own actions (such as losing your recovery phrase or sending to a wrong address), by third-party services, or by changes in the value of MLX.
• Our total liability to you for all claims is limited to the greater of [Liability cap, e.g. the amount you paid us in the 12 months before the claim] and [Minimum amount].

Nothing in these terms limits liability for fraud, for death or personal injury caused by negligence, or for anything else that can’t be limited by law.

You agree to cover our reasonable losses and costs from claims by others caused by your breach of these terms or your misuse of MLX. [Indemnity scope as advised by counsel]

20Changes to MLX and to these terms

MLX will change as the network grows. We may update these terms; the date at the top shows the latest version. For material changes we will give notice on the site at least [Notice period] before they apply, except where a change is needed sooner for legal or security reasons. Changes don’t apply to transactions completed before they take effect. If you keep using MLX after a change applies, you accept it.

21Governing law and disputes

These terms are governed by the laws of [Governing law / jurisdiction]. Disputes will be resolved by [Courts or arbitration body and seat]. [Class action waiver, if any, and any consumer carve-outs, as advised by counsel]

Before starting a claim, please contact us so we can try to resolve it informally within 30 days.

22General

• These terms, with the documents they link to, are the whole agreement between you and us about MLX.
• If part of these terms can’t be enforced, the rest still applies.
• If we don’t enforce a right straight away, we haven’t given it up.
• You can’t transfer your rights under these terms without our consent. We may transfer ours to a successor operator of MLX Network.
• If these terms are translated, the English version applies.

23Contact

MLX Foundation, Zeughausgasse 7A, 6300 Zug, Switzerland. Company number [Company registration number]. Email contact@mlx.app; help with your wallet, seats, payments or MLX Node: support@mlx.app.