Terms of Service

KVERX is operated by Caroline Technologies s. r. o., registered office at Korunní 2569/108, Vinohrady, 101 00 Prague 10, Czech Republic, company number 29727430, entered in the commercial register kept by the Municipal Court in Prague, file no. C 450846 (the “operator”). These terms govern the use of the web application at kverx.com (the “service”).

By registering or signing in for the first time you confirm that you have read and accept these terms. The Risk Warning forms part of them and is confirmed with a separate tick box at registration. If you do not accept the terms, do not use the service.

What the service is and is not

KVERX is a simulated trading laboratory. You create a “kverk” — a small neural network with an immutable thirty-element DNA — and it trades on its own on an internal simulated market (the “KVERX Market”) built on real market data delayed by roughly fifteen minutes. Each kverk keeps an immutable, forward-only record of its decisions, which the application calls a living track record.

The subject of the service is three things: simulation, software and data. Nothing else.

In particular, the operator:

• holds no client money and accepts no deposits;
• sends no order to any real exchange or broker;
• provides no investment advice and no individual recommendation, and nowhere in the application does it say “buy X”;
• is not a securities dealer, an investment intermediary or an asset manager within the meaning of Czech Act No. 256/2004 Coll. on capital market undertakings, and carries out no activity requiring authorisation by the Czech National Bank.

No trading with real money takes place inside the service. Every amount, position, profit and loss shown in the application is simulated and exists only inside the KVERX Market.

Your account

• Registration is free and happens through a single sign-in: you enter an e-mail address and receive a one-time six-digit code, or you sign in with a Google account. There are no passwords.
• The account is personal and non-transferable. Never share a sign-in code — whoever has access to your mailbox has access to your account.
• Only a natural person over 18 acting on their own behalf may register.
• One person runs one account. Creating further accounts to get around limits or free entitlements breaches these terms.
• The operator may restrict or close an account for a breach of these terms, for abuse of the service, or for conduct that harms other users. For a less serious breach we warn you first and allow a reasonable time to put it right.

Capacity and the waiting list

The number of user accounts is capped for operational reasons and the cap is set by the operator. Once it is reached, the sign-in page switches to a waiting-list form: you leave an e-mail address and hear from us when places open up. A position on the list creates no legal entitlement to register, and the waiting list is never charged for. An existing user can always sign in, even when the cap is full.

Operating limits

The total number of kverks on an account is unlimited. What is limited is the number of active kverks, the number of connected advisors and the number of questions to the Data chatbot, because those are what consume computation. The current values are shown in the application and the operator may change them.

Lowering a limit never deletes a kverk — surplus kverks are put to sleep and you choose which ones to wake. A paused kverk and an unconnected advisor are only stored weights; they are kept indefinitely and free of charge.

Paid content and prices

The core service is free and stays free: the account, the kverks, the living track record, the daily ritual, the academy and the leaderboard. Only extras are for sale:

Item	Form	What you get
Historical trainings	one-time purchase, by the unit	one unit = one training run on one kverk
Kverk portraits	one-time purchase	a permanent right to use the portrait on a kverk of your account
E-book	one-time purchase	permanent access to the download, including later editions
Nickname change (second and later)	one-time fee	the change itself

Prices are in euro, VAT included where it applies. Euro is the only currency of the service; conversion into your local currency is done by your bank or card issuer and is outside the operator's control.

One training unit = one run on one kverk. To put three kverks through the same training you buy three units; the same applies to a repeated run on the same kverk. Unused units never expire and are visible under “My trainings”. If a run fails because of a technical fault on the operator's side, the unit is not consumed and returns to your account.

Payments are processed by Stripe Payments Europe, Ltd.; the operator never sees or stores card details. You receive a receipt by e-mail and can find it again under Purchases.

Limited portrait editions

A paid portrait may be issued in a limited number of copies. The offer then shows how many remain, and a purchased copy carries its edition number (“no. 7 of 10”).

A sold-out edition is never reissued. This is a commitment under these terms, not a marketing line: a sold-out portrait disappears from the shop, moves into the public gallery of past editions, and the operator will not put it back on sale, will not increase its run, and will not release a recoloured or otherwise reworked variant that could be mistaken for the original edition. Nor does the operator use countdowns or “last chance” prompts on editions.

A portrait is a licence to use an image inside the service, not a transfer of copyright. A purchased portrait stays with the account permanently and any kverk of that account may wear it.

Withdrawal and complaints

Paid content is digital content supplied without a physical medium. A consumer generally has the right to withdraw from a distance contract within 14 days without giving a reason.

At checkout you tick a separate box by which you expressly request delivery of the digital content before that period expires and acknowledge that you thereby lose the right of withdrawal under § 1837(l) of the Czech Civil Code. Without that consent we do not deliver immediately.

Losing the right of withdrawal does not affect defective performance. If purchased content does not work as it should — a training will not start, the e-book will not download, a portrait will not attach — write to us and we will fix the defect or refund you. Complaints are settled within 30 days at the latest.

Voluntary donations

A donation is a gift with no counter-performance whatsoever. A donor receives no advantage: no higher limits, no better kverks, no badge, no priority, no access to anything others do not have — and never will. This is deliberate, not an oversight: the moment a donation bought something, it would stop being a gift.

A donation can be one-off or monthly. Monthly support can be cancelled at any time in one click through the Stripe Customer Portal; it runs to the end of the paid period and is not pro-rated. The right of withdrawal does not apply to a gift, because it is not the purchase of goods or a service.

Your content, your kverks and the learned weights

• What you put into the service — kverk names, journal notes, custom rules from the Workshop, hypotheses — stays yours. You grant the operator a non-exclusive, royalty-free licence only as far as running and backing up the service requires.
• A kverk's DNA is your configuration. You can export it in a machine-readable format at any time.
• The neural-network weights produced by a kverk's learning are a technical output of the service. The operator uses them for nothing other than running your kverk and for anonymous aggregate statistics; it does not sell them and does not share them with other users. They are not part of the export in the MVP — they are learned model parameters tied to specific sense and simulator versions and are unusable outside the service. A model export format is prepared for the desktop application; until then no entitlement to the weights arises.
• The operator may use anonymous aggregate data about kverk behaviour (with no link to an account) for calibration, research and public statistics.

The leaderboard

Publishing a kverk on the public leaderboard is voluntary: it is a switch in the kverk's detail and can be turned off at any time. It requires a living track record at least 30 days old.

What is published is the rank, the numeric Score, the portrait, the kverk's name, your nickname, the age of the record, the number of situations lived through and the training badges. Nothing that would let anyone imitate the kverk is published: no DNA, no senses, no trades, no instrument list and no equity curve. Your e-mail address is never published.

The operator may withdraw an entry for moderation reasons — in particular for an inappropriate kverk name or nickname. The leaderboard always states that these are simulated results and not a promise of returns.

Acceptable use

You may not submit content that is unlawful, abusive, deceptive, hateful, or that infringes third-party rights. Kverk names and nicknames may be changed or hidden on those grounds.

Further, you may not:

• put automated load on the service or circumvent limits, quotas or free entitlements;
• attempt unauthorised access to other accounts or to the infrastructure;
• systematically harvest the service's content (scraping), in particular market data, the academy and the knowledge base;
• present outputs of the service as investment recommendations or offer them to third parties as an investment service;
• reverse-engineer the service in order to build a competing product, to the extent the law prohibits this;
• use the Data chatbot to obtain investment recommendations, or attempt to work around its guardrails.

Reporting a security finding responsibly, without exploiting it, carries no penalty.

Availability and changes

The operator aims for high availability but provides the service “as is”, with no guarantee of uninterrupted operation. A data-feed outage, planned maintenance or a simulation defect creates no claim for compensation. The current state and the incident history are published on the Status page.

During a data outage kverks continue with fewer senses, and a note is written into the journal and the track record. We never rewrite the history of a record — not even after a fault on our side; we describe the correction, but we do not adjust the curve.

The operator may change the service, its features, limits and prices. Material changes to these terms are announced by e-mail or in the application at least 14 days in advance; continuing to use the service means accepting them. If you disagree you may close your account before then. A price change never affects a purchase already paid for or training units already bought.

Liability

To the extent the law allows, the operator is not liable for indirect damage, lost profit, loss of data on the user's side, or for decisions a user makes on the basis of information from the service — including the decision to trade real money elsewhere.

Simulated results are neither a promise nor an indication of future returns. The Score, the leaderboard and the exam result are not an assessment of investment quality.

Any liability for damages is limited to the amount the user paid the operator over the last 12 months [the scope of this limit is to be confirmed by counsel]. The limit does not apply to damage caused intentionally or by gross negligence, to personal injury, or to consumer rights that cannot be limited by contract.

Termination

You can close your account at any time in Settings. After you confirm, a fourteen-day grace period runs during which the deletion can be undone by simply signing in; once it passes, the account and its kverks are removed irreversibly. You can download an export of your data before you go. Any monthly support is cancelled automatically.

Digital content that has been paid for and delivered is not refunded when an account is closed, and unused training units expire with the account. [to be confirmed by counsel]

The operator may discontinue the service; in that case it will give at least 60 days' notice, allow a data export and refund the proportionate part of unused purchases.

Governing law and disputes

The relationship is governed by the law of the Czech Republic. Where the user is a consumer, this choice does not affect the protection given by the mandatory rules of the country of their habitual residence.

We will try to settle any dispute by agreement. A consumer may turn to the Czech Trade Inspection Authority (coi.cz) as the body for out-of-court resolution of consumer disputes, or use the European online dispute resolution platform. Jurisdiction follows the general rules.

Contact

Caroline Technologies s. r. o., Korunní 2569/108, Vinohrady, 101 00 Prague 10, Czech Republic

Company number 29727430 · e-mail [email protected] · telephone +420 607 969 092

Written enquiries go through the form on the Contact page or by e-mail. We usually answer within two working days.

Document version

Last updated: 26 August 2026. The revision date is also shown in the page header and is held in the application settings.