Terms of Service

2. Rights and Obligations of Users

2.1 Eligibility

By using the Platform, you represent and warrant that:

• You are at least 18 years old and have the legal capacity to enter into these Terms.
• You are not a resident of or located in any jurisdiction where use of the Platform would be prohibited by applicable law.
• You are not subject to sanctions, restrictions, or prohibitions that would prevent you from using the Platform.
• You are using the Platform for lawful purposes and not for any illegal or prohibited activities, including but not limited to money laundering, terrorist financing, or other financial crimes.

2.2 User Responsibilities

As a User of the Platform, you agree to:

• Comply with these Terms and all applicable laws and regulations.
• Maintain the security of your wallet, private keys, passwords, and other access methods to the Platform.
• Bear all risks associated with your use of the Platform, including but not limited to market volatility, technical risks, and regulatory changes.
• Conduct your own research and due diligence before using the Platform or engaging in any transactions.
• Pay all applicable fees, taxes, and other charges associated with your use of the Platform.
• Provide accurate and complete information when required.

2.3 Prohibited Activities

You agree not to:

• Use the Platform for any illegal or unauthorized purpose.
• Attempt to interfere with, disrupt, or bypass any security features of the Platform.
• Engage in any activity that could damage, disable, overburden, or impair the Platform.
• Use the Platform to engage in market manipulation, fraud, or deceptive practices.
• Use the Platform to engage in money laundering, terrorist financing, or other illegal activities.
• Attempt to reverse engineer, decompile, or disassemble any software used in connection with the Platform.

3. Risks Related to Using the Platform

3.1 Market Risks

The value of Digital Assets can be highly volatile and may fluctuate significantly. You acknowledge and accept the following risks:

• The value of Digital Assets may decrease, potentially resulting in significant losses.
• Market volatility may impact the value of your collateral, potentially triggering liquidation events.
• Interest rates for lending and borrowing may fluctuate based on market conditions.

3.2 Technical Risks

You acknowledge and accept the following technical risks:

• Smart contracts may contain bugs, vulnerabilities, or other issues that could result in the loss of funds.
• The Platform may experience downtime, delays, or other technical issues that could affect your ability to access or use the Platform.
• Network congestion on underlying blockchains may result in delayed transactions or increased transaction costs.
• Blockchain reorganizations, forks, or other technical changes could affect the functionality of the Platform or the value of Digital Assets.

3.3 Liquidation Risk

If the value of your collateral falls below required thresholds (as determined by the LTV ratio), your position may be subject to liquidation. In such cases:

• Your collateral may be sold to repay your loan and associated fees.
• Liquidation may occur without prior notice.
• You may incur liquidation penalties or fees.
• The liquidation process may result in losses greater than those you would have incurred by closing your position voluntarily.

3.4 Regulatory Risks

The regulatory status of Digital Assets and DeFi platforms is evolving and varies by jurisdiction. You acknowledge and accept the following regulatory risks:

• Changes in laws or regulations may restrict or prohibit the use of the Platform in certain jurisdictions.
• Regulatory actions may impact the availability or functionality of the Platform or the value of Digital Assets.
• Future regulatory requirements may necessitate changes to the Platform's operations or your ability to use the Platform.

4. Fees and Charges

4.1 Fee Structure

The Platform charges the following fees for its services:

• Borrowing Fees: Interest charged on borrowed assets, calculated and accrued continuously and displayed as an Annual Percentage Yield (APY).
• Liquidation Fees: Fees charged during liquidation events, calculated as a percentage of the liquidated collateral.
• Protocol Fees: A portion of interest collected may be allocated to the protocol treasury for development and maintenance.

4.2 External Fees

In addition to Platform fees, you may incur external fees, including but not limited to:

• Blockchain transaction fees (gas fees) required to interact with the Platform.
• Fees charged by third-party wallet providers or other services you use to access the Platform.

4.3 Fee Changes

We reserve the right to modify the fee structure at any time. Any changes will be communicated through the Platform and will take effect as specified in the communication. Continued use of the Platform following a fee change constitutes acceptance of the new fee structure.

5. KYC/AML Policy

5.1 Compliance Requirements

Astrol is committed to complying with applicable Anti-Money Laundering (AML), Combating the Financing of Terrorism (CFT), and Know Your Customer (KYC) laws and regulations. We may implement procedures to verify user identity and monitor transactions for suspicious activity.

5.2 User Verification

We may require you to provide identification information and documentation to verify your identity, including but not limited to:

• Government-issued identification (passport, driver's license, or national ID card)
• Proof of address (utility bill, bank statement, or official correspondence)
• Additional information or documentation as required by applicable laws and regulations

5.3 Transaction Monitoring

We may monitor transactions for suspicious activity and may:

• Request additional information about specific transactions
• Delay or block transactions that appear suspicious
• Report suspicious activity to relevant authorities as required by applicable laws and regulations

5.4 Consequences of Non-Compliance

If you fail to comply with our KYC/AML requirements, we may:

• Restrict or suspend your access to the Platform
• Refuse to process your transactions
• Terminate your relationship with the Platform
• Take other actions as required by applicable laws and regulations

6. Intellectual Property

6.1 Platform Ownership

The Platform, including all software, content, designs, graphics, logos, and other materials, is protected by intellectual property rights owned by or licensed to Astrol. Nothing in these Terms grants you ownership rights in the Platform or its content.

6.2 Limited License

Subject to your compliance with these Terms, we grant you a limited, non-exclusive, non-transferable, and revocable license to access and use the Platform for its intended purposes. This license does not include the right to:

• Modify, reproduce, distribute, or create derivative works based on the Platform or its content
• Use the Platform for commercial purposes without our express permission
• Remove any proprietary notices or labels from the Platform or its content
• Use the Platform in a manner that violates any applicable laws or regulations

6.3 Feedback

If you provide any feedback, suggestions, ideas, or other information regarding the Platform ("Feedback"), you grant us an unlimited, irrevocable, perpetual, sublicensable, transferable, royalty-free license to use such Feedback for any purpose without compensation or attribution to you.

7. Limitation of Liability

7.1 Disclaimer of Warranties

THE PLATFORM IS PROVIDED "AS IS" AND "AS AVAILABLE" WITHOUT WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE, AND NON-INFRINGEMENT. WE DO NOT WARRANT THAT THE PLATFORM WILL BE UNINTERRUPTED, ERROR-FREE, OR SECURE, THAT DEFECTS WILL BE CORRECTED, OR THAT THE PLATFORM IS FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS.

7.2 Limitation of Liability

TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, IN NO EVENT SHALL ASTROL, ITS AFFILIATES, OR THEIR RESPECTIVE OFFICERS, DIRECTORS, EMPLOYEES, OR AGENTS BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES, INCLUDING BUT NOT LIMITED TO LOSS OF PROFITS, DATA, USE, GOODWILL, OR OTHER INTANGIBLE LOSSES, ARISING OUT OF OR IN CONNECTION WITH YOUR ACCESS TO OR USE OF THE PLATFORM, WHETHER BASED ON CONTRACT, TORT, NEGLIGENCE, STRICT LIABILITY, OR ANY OTHER LEGAL THEORY, EVEN IF WE HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

7.3 Cap on Liability

TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, OUR AGGREGATE LIABILITY TO YOU FOR ALL CLAIMS ARISING OUT OF OR RELATING TO THESE TERMS OR YOUR USE OF THE PLATFORM SHALL NOT EXCEED THE AMOUNT OF FEES YOU HAVE PAID TO US DURING THE THREE (3) MONTHS IMMEDIATELY PRECEDING THE DATE OF THE CLAIM.

7.4 Basis of the Bargain

THE LIMITATIONS OF LIABILITY IN THIS SECTION SHALL APPLY EVEN IF YOUR REMEDIES UNDER THESE TERMS FAIL OF THEIR ESSENTIAL PURPOSE.

8. Governing Law and Dispute Resolution

8.1 Governing Law

These Terms shall be governed by and construed in accordance with the laws of the Cayman Islands, without regard to its conflict of law principles.

8.2 Dispute Resolution

Any dispute, controversy, or claim arising out of or relating to these Terms or the breach, termination, or validity thereof shall be resolved through binding arbitration in accordance with the rules of the International Chamber of Commerce. The arbitration shall be conducted by a single arbitrator, in English, and the seat of arbitration shall be in the Cayman Islands. The decision of the arbitrator shall be final and binding and may be entered and enforced in any court of competent jurisdiction.

8.3 Class Action Waiver

YOU AND ASTROL AGREE THAT EACH MAY BRING CLAIMS AGAINST THE OTHER ONLY IN YOUR OR ITS INDIVIDUAL CAPACITY AND NOT AS A PLAINTIFF OR CLASS MEMBER IN ANY PURPORTED CLASS OR REPRESENTATIVE PROCEEDING. Further, unless both you and Astrol agree otherwise, the arbitrator may not consolidate more than one person's claims, and may not otherwise preside over any form of a representative or class proceeding.

8.4 Time Limitation

Any claim or cause of action arising out of or related to these Terms or the Platform must be filed within one (1) year after such claim or cause of action arose, or it shall be forever barred.

9. Changes to Terms

9.1 Modifications

We reserve the right to modify these Terms at any time in our sole discretion. If we make material changes to these Terms, we will provide notice through the Platform or by other means, such as email to the address associated with your account.

9.2 Effective Date

The modified Terms will become effective on the date specified in the notice. If you continue to use the Platform after the effective date of the modified Terms, you will be deemed to have accepted the changes.

9.3 Objection to Changes

If you do not agree to the modified Terms, you must stop using the Platform before the effective date of the changes. Your continued use of the Platform after the effective date constitutes your acceptance of the modified Terms.

9.4 Prior Versions

We will maintain an archive of prior versions of these Terms, which will be available upon request.

10. Contact Information

If you have any questions, comments, or concerns about these Terms or the Platform, please contact us at:

Email: [email protected]

Address: Astrol Protocol, Cayman Enterprise City, Grand Cayman, Cayman Islands