Last Updated: June 21, 2023
Defiway cannot and does not guarantee the value of digital assets. You acknowledge and agree that the value of digital assets is highly volatile and that buying, selling, trading and holding digital assets involves high risk. The risk of loss in buying, selling, trading or holding digital assets can be substantial. You should therefore carefully consider whether buying, selling, trading or holding digital assets is suitable for you in light of your financial condition. In considering whether to buy, sell, trade or hold digital assets, you should be aware that the price or value of digital assets can change rapidly. If you are unable to bear the financial risk of loss, please do not use or access the Defiway website. You agree that you are solely responsible for any digital asset transactions and the use of the Defiway website and services. We do not offer any form of investment, financial advice or consultation. Defiway is offered exclusively as payment software for digital assets management. It is important to note that we do not provide advice or recommendations regarding participation in digital assets transactions or operations. It is advisable that you exercise your own discretion when making decisions to participate in digital assets transactions or engage in associated operations.
To access or use the Services, you must be able to form a legally binding contract with us. Accordingly, you represent that (a) you are at least eighteen (18) years old and legally competent to enter into these Terms; (b) you are not a citizen, resident, or organized in a jurisdiction or territory that is the subject of comprehensive country-wide, territory-wide, or regional economic sanctions; and (c) you are not the subject of economic or trade sanctions administered or enforced by any governmental authority or otherwise designated on any list of prohibited or restricted parties (including but not limited to the lists maintained by the Office of Foreign Assets Control of the U.S. Department of the Treasury, “OFAC”, European External Action Service, “EEAS”, Council of the European Union) or any similar list maintained by any other relevant sanctions authority; (d) your access and use of the Website will fully comply with all applicable laws and regulations, and that you will not access or use the Website to conduct, promote, or otherwise facilitate any illegal activity.
If you are using our Services on behalf of a legal entity, you further represent and warrant that: (e) the legal entity is duly organized and validly exists under the applicable laws of the jurisdiction of its organization; and (f) you are duly authorized by such legal entity to act on its behalf.
You can only use our Services if permitted under the laws of your jurisdiction. For the avoidance of doubt, you may not use our Services if you are located in, or a citizen or resident of any state, country, territory or other jurisdiction where your use of our Services would be illegal or otherwise violate any applicable laws. Please make sure that these Terms are in compliance with all laws, rules, and regulations that apply to you. If we determine in our sole and absolute discretion that you have breached your representations and/or obligations under this section, we will block your access to the Website if continued access to the Website could result in interoperability being in violation, or subject to negative consequences, under any sanctions laws or other law or regulation. You agree that you are only using our Services with legally-obtained funds that rightfully belong to you. We may still refuse to let certain people access or use the Services, however, and we reserve the right to change our eligibility criteria at any time.
In order for the Services to be completed, they must be confirmed and recorded in the associated public blockchain. Such networks are decentralized, peer-to-peer networks supported by independent third parties, which we do not own, control, or operate. We have no control over the blockchain networks and, therefore, cannot and do not ensure that any transaction details that you submit via our Services will be confirmed and processed. By using Defiway, you acknowledge and agree that: (i) we do not have the ability to cancel or otherwise modify your transaction; (ii) the transaction details you submit may not be completed, or may be substantially delayed, by the applicable blockchain networks; (iii) we do not store, send, or receive Digital Assets; and (iv) any transfer that occurs in relation to any Digital Asset occurs on the relevant blockchain network and not on a network owned by us and therefore we do not guarantee the transfer of title or right in any Digital Asset.
Digital Wallet. Defiway Wallet operates as an open-source, multi-signature, non-custodial digital wallet. Defiway Wallet does not constitute an account where we or other third parties serve as financial intermediaries or custodians of your Digital Assets. Defiway does not possess any access, control or visibility over the Digital Assets stored in your wallet, any transactions carried out using your wallet, your private keys, passphrases, or wallet backup files. Your wallet is stored locally on your device(s), and not on any Defiway server or network.
By using Defiway Wallet you agree and understand that you hold complete responsibility for your activity and any potential losses that may arise at any given moment. You are solely responsible for the retention and security of your private key and any passphrase associated with your wallet. You must keep your wallet address, passphrase, and private key access information secure. It is very important that you backup your private keys, passphrases or passwords. Failure to do so may result in the loss of control of Digital Assets associated with your wallet. You acknowledge and accept that we do not have access to your wallet password, private key, or passphrases associated with your wallet. We cannot generate a new password for your wallet if you forgot your original password. If you have not safely stored a backup of any wallet address and private key pairs maintained in your wallet, you accept and acknowledge that any Digital Assets you have associated with such wallet address will become inaccessible. Accordingly, we shall have no responsibility or liability whatsoever in the event you are unable to access your wallet for any reason including without limitation your failure to keep your wallet address, passphrases and private key information secure.
If you use Defiway Wallet to purchase Digital Assets with your credit or debit card, a third party will convert your chosen amount into the applicable Digital Asset and credit it to your wallet. You acknowledge and agree that: (i) Defiway is not responsible for your use of such third-party service and shall have no liability whatsoever in connection with your use of such service; (ii) you will be subject to any terms and conditions imposed by the relevant third-party service provider; (iii) Defiway has no ability to change, withdraw or cancel any conversion requests you place; (iv) Defiway is not responsible for any exchange rates offered by the relevant third-party service provider(s); and (v) Defiway is not responsible for any fees charged by the relevant third-party service provider(s) or your bank or credit card issuer(s).
Wallet setup and security. You must either connect a third-party wallet or create a Defiway Wallet in order to use Services. When you create a wallet, you will be assigned a private key. You agree to immediately notify us of any unauthorized use of your private key or any other breach of security of your wallet. Notwithstanding the foregoing, you acknowledge and agree that you shall assume all risks related to the use of the Services and you shall be solely responsible for maintaining the confidentiality and security of your private key. When setting up a wallet, it is crucial to take steps to prevent the risk of losing control or access to it. These measures may include (a) creating a unique and robust password that you do not use for any other purpose, using biometric authentication whenever feasible; (b) avoiding storing the private key and passphrase in an unsecured location or plain text online; (c) restricting access to your devices and wallet; (d) protecting your devices and networks against malware; and (e) informing us immediately if you detect or suspect any security breaches linked to your wallet. This list is not exhaustive. Regardless of any contrary provisions stated herein, we disclaim all liability for any activities that take place on your wallet, whether or not you have authorized them.
As part of Payment Services that you can use via Defiway software you may be asked to submit certain business-related information, i.e. name, mailing address, physical address, phone number, email address, company website, the nature of your expected transactions, and your field of industry. You may be asked to submit additional information and/or documents to enable us to verify your identity and assess business risk, such as entity formation documentation, compliance program documentation, and information regarding your customers. The information you provide must be accurate and complete, and you must inform us within ten (10) business days of any changes to such information. Defiway has the right to reject your registration, to later close your account, or to restrict the provision of the Services to you if you do not provide and maintain accurate, complete and satisfactory information.
In accordance with applicable laws and regulations, we are authorized to retain records of all documentation and information linked to your account throughout the duration that your account is active, as well as after its closure. Defiway may ask you to provide specific business records upon reasonable advance notice or immediately if obligated by law, a regulator, or another relevant authority for internal auditing or under proper request. If you decline such a request, we reserve the right to suspend or terminate your account.
Digital Assets Transactions. Our Digital Assets Transaction Services allow you to send, receive, and swap Digital Assets including sending your Digital Assets across chains. We will process Digital Assets Transactions in accordance with the instructions we receive from you. You should verify all transaction information prior to submitting the instructions to us. We do not guarantee the identity of any user, receiver, requestee or another party. Digital Assets Transactions cannot be reversed once they have been broadcast to the relevant Digital Assets blockchain.
If while using our Digital Assets Transaction Services you access or use DApps or DEX, including, without limitation, DApp functionality embedded within the Services, you acknowledge and agree that: (i) Defiway is not responsible for your access or use of DApps or DEX and shall have no liability whatsoever in connection with your use of DApps or DEX, including, without limitation, any transactions you dispute; (ii) the limits of amounts that you may exchange via DEX per day shall be subject to any requirements of the third-party developed Smart Contracts; (iii) blockchain operations are irrevocable meaning when you conduct any transactions via DApps or DEX, you shall be solely responsible for the consequences of any issues associated with such transactions, including, without limitation, your transfer to an incorrect address or problems associated with the node servers selected by you; (iv) when you use DApps or DEX, third-party developed Smart Contracts may charge you handling fees and/or service fees.
NFT rights. Defiway Wallet offers the option to store non-fungible tokens ("NFTs") as part of its services. By using this feature, you confirm that you have legal ownership of all rights, titles, and interests, including any intellectual property rights related to the content linked to the NFTs. Alternatively, you must have the legal authority from the intellectual property owner of the NFT content to store these NFTs on Defiway Wallet. We do not monitor the NFTs stored on your Wallet for any potential infringement of any third-party intellectual property rights. Therefore, we assume no liability for any action concerning the NFTs stored by you. You acknowledge and agree that it is solely your responsibility to conduct all necessary due diligence for any activities related to NFTs.
Supported Digital Assets. Our Digital Asset Services are solely applicable to Digital Assets that Defiway supports, and these may change periodically. All supported Digital Assets are shown on the Website. Please note that it is strictly prohibited to attempt to store, send, request, or receive Digital Assets in any form that is not supported by Defiway. We do not assume any responsibility or liability in connection with any such attempt to use your Account for Digital Assets that we do not support.
Information Provided by User. By using the Services, you understand and guarantee that any information you submit is truthful and comprehensive. You acknowledge that we are not accountable for any inaccuracies or omissions you make during a Digital Asset transaction conducted through the Services. We highly recommend that you carefully review your transaction information prior to initiating any Digital Asset transfer.
III. Prohibited Activities
You may not access or use the Website and Services for any purpose other than that for which we make the Website available. The Website may not be used in connection with any commercial endeavours except those that are specifically endorsed or roved by us. As a User of the Website, you agree not to:
- Use the Services for any illegal or fraudulent purpose.
- Engage in any activity that violates the intellectual property rights of Defiway or any third party.
- Harass, threaten, or otherwise cause harm to any other users of the Services.
- Attempt to gain unauthorized access to any part of the Services or Defiway's systems.
- Engage in any activity that may harm or disrupt the functionality of the Services or Defiway's systems.
- Use the Services to transmit or distribute any viruses, malware, or other harmful software.
- Create multiple accounts for the purpose of abuse or fraud.
- Engage in any activity that violates any applicable laws or regulations including but not limited to those associated with (1) drugs and related illegal substances; (2) weapons, munitions, gunpowder and other explosives; (3) toxic, flammable, and radioactive materials; (4) pseudo-pharmaceuticals; (5) substances designed to mimic illegal drugs; (6) sexually-related services; (7) pyramid and investment schemes, multi-level marketing schemes, and other unfair, predatory or deceptive practices; (8) human trafficking; (9) activities with varying legal status from state to state etc.
- Use the Services to conduct any transaction or activity that Defiway deems to be suspicious or fraudulent.
IV. Payment and Fees
Fees applicable to the Services or any component of the Services, if any, shall be communicated to you before you initiate a transaction. It should be noted that Digital Assets transactions may incur transaction fees imposed by the system or blockchain network with which you engage. By using our services, you acknowledge and agree that we will not be held responsible for any failed transactions or losses you may experience as a result of incorrect transaction fees that you have set or inadequate funds or gas associated with your wallet address.
You are solely responsible for determining whether any taxes apply to the transactions that you have submitted transaction details for via our Services, and for reporting and remitting the correct tax amount to the relevant tax authority. Please note that we are not liable for determining whether taxes apply to your transactions or for collecting, reporting, withholding, or remitting any taxes that arise from any transactions related to Digital Assets.
VI. Third-party Services
There may be links to third-party websites or services on the Website, as well as third-party content. Any links or content on the Website do not imply endorsement or affiliation with the third party, and the Website is not responsible for the products or services provided by third parties. Any use of third-party websites or services is at the user's own risk, and the user is responsible for reading and complying with any third-party terms of service and privacy policies. Certain Services may be provided by third parties. There is no responsibility on Defiway for the actions or performance of any third-party provider, and any use of third-party services is subject to the terms and conditions of the provider.
VII. Copyright and IP
Defiway owns the exclusive rights to all materials presented on the Website, including but not limited to graphic design and visual content, text, images, and graphics, unless otherwise specified. Unless expressly authorized by the Company in writing, you are not permitted to copy, transmit, distribute, reproduce, modify, sell, display, save for later use, or use any other means to utilize these materials, either in whole or in part, in any form or by any means. Under these Terms, you are authorized to use the Services and Defiway IP exclusively for the purpose of providing Services to your customers or for personal use. We grant you a personal, limited, revocable, non-exclusive, and non-transferable license to utilize our IP. You are prohibited from renting, leasing, sublicensing, distributing, transferring, copying, reproducing, downloading, displaying, modifying, or timesharing any portion of our IP, or using Defiway IP as a component of or a foundation for products or services designed for commercial sale, sublicensing, leasing, access, or distribution. You are not permitted to create any derivative works based on Defiway IP, nor are you authorized to translate, reverse engineer, decompile, or disassemble our IP.
VIII. Suspension, Termination or Cancellation of Services
We reserve the right to immediately suspend, restrict, or terminate your access to any or all of our Services, as well as deactivate or cancel your Account (Wallet), at our sole discretion and without any obligation to disclose the reasons for such actions. You acknowledge that our decisions to take certain actions, such as limiting access, suspending, or closing your account, may be based on the outcomes of our risk management and security protocols. You agree that we are not obligated to disclose the details of our risk management and security procedures to you. Upon termination of this Agreement, and unless prohibited by applicable law or any court or order to which Defiway is subject in any jurisdiction, you may transfer your Digital Assets balance within a thirty (30) day period. You have the option to discontinue the use of our Services at any time by transferring all digital assets associated with your Defiway Wallet. There will be no charges for cancelling your account, and you will only be required to pay for any Services used that are subject to charges.
IX. Limitation of Liability
In no event we will be liable for any indirect, special, incidental, consequential, exemplary or punitive damages or any loss, theft, disappearance, or damages for lost profits, lost revenues, lost data or other intangible losses that result from the use of, inability to use, or unavailability of the services, regardless of the form of action and whether or not we knew that such damage may have been incurred. For customers contracting with us, while this limitation of liability disclaims lost profits and other indirect damages, Defiway does not otherwise exclude its liability for its gross negligence or willful misconduct.
In no event we will be liable for any damage, loss or injury resulting from hacking, tampering, virus transmission or other unauthorized access or use of the services, your wallet or account, or any information contained therein.
In no event shall our liability to you for all damages (other than may be required by applicable law in cases involving personal injury) exceed the amount of one hundred u.s. dollars ($ 100.00) or its equivalent in the local currency of the applicable jurisdiction.
X. Warranty Disclaimer
Subject to any provisions specified in these terms, we offer the services on an”as is” and “as available” basis, and any use of the services is solely at your own risk. We provide the services without any express or implied warranties, including but not limited to warranties of merchantability, fitness for a particular purpose, or non-infringment, to the maximum extent permitted by applicable law. Without limiting the foregoing, we do not guarantee that website will function without error or that defects or errors will be rectified; will satisfy your needs, or will be accessible, uninterrupted, or secure at any specific time or location; are free of viruses or other damaging content. We do not endorse, guarantee, or assume responsibility for any product or service provided or advertised by a third party through the services or the website, and we are not involved in, nor do we monitor, any interactions between you and third-party providers of products or services.
To the fullest extent permissible under applicable law, you agree to defend, indemnify, and hold harmless us, our affiliates, and our respective shareholders, members, directors, officers, employees, attorneys, agents, representatives, suppliers, and contractors from any and all claims, damages, obligations, losses, liabilities, costs, or debts, including but not limited to attorney's fees, arising from:
- use of the Website,
- your violation of the rights of a third party, including but not limited to intellectual property rights, or
- any overt harmful act toward any other user of the Website with whom you connected via the Website.
Notwithstanding the foregoing, we reserve the right, at your expense, to assume the exclusive defense and control of any matter for which you are required to indemnify us, and you agree to cooperate, at your expense, with our defense of such claims. We will use reasonable efforts to notify you of any such claim, action or proceeding which is subject to this indemnification upon becoming aware of it.
XII. Claims Time Limitation
By utilizing the Website and Services, you consent to the requirement that any claim you may have related to your relationship with us must be filed within one year of its occurrence. Failure to do so will result in the permanent bar of your claim.
XIII. User Data
XIV. Applicable law and jurisdiction
XV. Force Majeure
We shall not be held liable for any delays, failure in performance, or interruptions of service which result directly or indirectly from any cause or condition beyond our reasonable control, including but not limited to: any delay or failure due to any acts of God, acts of civil or military authorities, acts of terrorism, civil or industrial disturbances, blockages, embargoes, war, strikes or other labor disputes, fire, earthquakes, storms or other nature-related events, interruption in electrical telecommunications or Internet services or network provider services, failure of hardware equipment and/or software or other utility failures, smart contract bugs or weaknesses, technological changes, changes in interest rates or other monetary conditions, and, for the avoidance of doubt, changes to any blockchain-related protocol, other catastrophe, or any other occurrences which are beyond our reasonable control, and shall not affect the validity and enforceability of any remaining provisions. If we are unable to perform our Services outlined in the Terms due to factors beyond our control, including, but not limited to, the aforementioned force majeure events or changes in applicable laws and/or sanctions policies, we shall not be liable for the Services provided under these Terms during the time period coincident with the event in question.
XVI. Terms Modification
We reserve the right to update or modify these Terms at any time at our sole discretion. If we do so, we’ll let you know by either posting the revised Terms on our Website or through other methods of communication which we deem reasonable. Such revised Terms as posted will take effect immediately unless otherwise indicated. You should regularly check our website to inform yourself of any such changes and decide whether or not to accept the revised version of these Terms. If you continue to use our Services following any update or modification of the Terms you shall be deemed to have accepted the revised Terms. If you do not agree to the Terms or any update or modification to the Terms, you must cease to access or use our Services. Our Services are evolving over time, we may change or discontinue all or any part of the Services, at any time and without prior notice, and at our sole discretion.
These Terms and any policies or operating rules posted by us on the Website constitute the entire agreement and understanding between you and us. Our failure to exercise or enforce any right or provision of these Terms shall not operate as a waiver of such right or provision. These Terms operate to the fullest extent permissible by law. We may assign any or all of our rights and obligations to others at any time. We shall not be responsible or liable for any loss, damage, delay, or failure to act caused by any cause beyond our reasonable control. If any provision or part of a provision of these Terms is determined to be unlawful, void, or unenforceable, that provision or part of the provision is deemed severable from these Terms and does not affect the validity and enforceability of any remaining provisions. There is no joint venture, partnership, employment or agency relationship created between you and us as a result of these Terms or use of the Website. You agree that these Terms will not be construed against us by virtue of having drafted them. You hereby waive any and all defenses you may have based on the electronic form of these Terms and the lack of signing by the parties hereto to execute these Terms.
XVIII. Contact Us
In order to resolve a complaint regarding the Website or to receive further information regarding the use of the Website or Services, please contact us through the “HELP CENTER” button on the Website.