These Terms of Use ("Terms") govern your access and use of the ern web-hosted user protocol (also referred the "app", "Service", "Services" or "Protocol"), located at https://www.ern.app (the "Interface"). The Services are brought to you by the ern Team ("we," "us," or "our").
You must read this Agreement carefully. By accessing or using the Interface, you acknowledge that you have read, understand, and agree to be bound by this Agreement in its entirety. If you do not agree, you are not permitted to access the Interface or use the Protocol.
To use the Interface and Services, you must have the legal capacity to enter into a binding agreement. By accessing or using the Services, you confirm that you meet this eligibility requirement. If you do not, you are not permitted to access or use the Services.
In particular, you represent and warrant that:
- You have the full legal right, authority, and capacity to agree to and comply with these Terms, whether on your own behalf or on behalf of a company or other legal entity you represent.
- You are not a resident of, or accessing the Services from, any jurisdiction where the use of decentralized protocols is restricted or prohibited by law.
- Your access to and use of the Interface and Services will at all times comply with all applicable laws, regulations, and rules.
- You will not use the Services for any unlawful or prohibited purpose.
Scope of Use
Contingent upon your ongoing compliance with the Agreement, we grant you a personal, worldwide, revocable, non-exclusive, and non-assignable license to use the software provided to you as part of our Services. The only purpose of this license is to allow you to use and enjoy the Services solely as permitted by these Terms.
Services
We provide a decentralized interface allowing users, through their self-custodial wallets, to interact with public blockchain protocols.
User custody
Users retain full control and custody over their virtual assets. It is important to understand that neither we nor any affiliated entity is a party to any transaction on the blockchain networks underlying the Protocol; we do not have possession, custody or control over any cryptoassets, or any user's funds. You understand that when you interact with the Protocol, you retain control over your virtual assets at all times.
Users use third-party self-custodial wallets to interact with the Protocol; we have no control or guarantee over the wallets. To interact with the Protocol using the Interface, you will need to connect and engage with it through your self-custodial wallet. It's essential to understand that your self-custodial wallet is provided by a third-party entity and is generally governed by separate terms and conditions set by the respective third-party service provider.
Non-custodial and decentralized
Due to the non-custodial and decentralized nature of the technology, we are not intermediaries, agents, advisors, or custodians, and we do not have a fiduciary relationship or obligation to you regarding any decisions, actions, or transactions you make when using our Services.
You are solely responsible for ensuring the accuracy, legality, and appropriateness of your interactions with any such third-party services, decentralized protocols, or smart contracts. We do not act as an intermediary, broker, agent, or fiduciary for any user or third party.
Blockchain transparency
We have no information about all Protocol transactions beyond what is publicly available via the blockchain. You acknowledge that we do not have information regarding all protocol transactions beyond what is available or obtainable publicly via the blockchain. However, we may collect information regarding the users of the Services in accordance with our Privacy Policy.
Service fees
The protocol collects a 1/10 share of the yield accrued by the user. There are no upfront costs, and no fees on deposits or withdrawals. We aim to decrease the fee further as the protocol grows and generates more revenue to pay for blockchain network, infrastructure and operational costs.
Network fees
There may be associated blockchain fees. Transactions conducted via blockchain networks may be subject to various fees imposed by third parties for access to and use of such permissionless networks. These fees may include, without limitation, gas fees, which are network transaction fees paid to validators, block producers, or similar participants.
You acknowledge and agree that certain blockchain network fees may be non-refundable in all circumstances, including but not limited to instances where a transaction is reverted, fails to execute, or is otherwise unsuccessful.
Third-Party Services
The Services may integrate or rely on third-party products, services, or technologies, including but not limited to:
- Digital wallets (e.g., MetaMask, Ledger, WalletConnect);
- Lending & Borrowing protocols (e.g., Aave, SparkLend, Compound Finance);
- Price oracles;
- Blockchain networks and bridges;
- User interfaces or applications developed by independent parties.
These third-party services are not controlled, operated, or endorsed by us. Your use of them is subject to separate terms and conditions established by their respective providers. We are not liable for any third-party services or links.
Assumption of Risks
You acknowledge that using the Services involves inherent risks, including but not limited to:
- Market risk: Volatility in the price of digital assets may result in losses.
- Technology risk: Smart contracts may contain flaws, bugs, or vulnerabilities.
- Liquidity risk: Assets may not always be immediately subject to withdraw.
- Counterparty risk: Interactions with other protocol users may involve default or non-fulfillment.
By accessing the Services, you confirm that you have sufficient knowledge of blockchain technology and digital assets to evaluate these risks.
Irreversibility of Transactions
You accept that all blockchain transactions are final, irreversible, and non-refundable. The Services may be disrupted, delayed, or otherwise affected by factors including cyberattacks, increased network activity, software errors, or technical failures.
Wallet Security
You are solely responsible for maintaining the security of your self-custodial wallet, including safeguarding your private keys. We do not have access to your wallet or private keys. Any unauthorized access or compromise of your wallet could result in the loss or theft of assets.
Prohibited Uses
Your access to and use of the Services is conditioned on your compliance with this Agreement. You are not allowed to:
- Use the Services to breach any law, regulation, sanction, or legal obligation.
- Engage in, encourage, or promote unlawful or fraudulent activities.
- Misrepresent your identity or use the Services under false pretenses, including impersonation.
- Attempt to exploit, disrupt, or attack the Services, including through hacking or phishing.
- Use the Services for unauthorized commercial purposes without our express consent.
- Copy, reproduce, or misuse any part of the Services, including reverse engineering.
- Interfere with other users' access or use of our Services.
Termination or Suspension
We may, at our sole discretion and without prior notice, restrict, suspend, or terminate your access to the Interface or other non-smart contract components of the Services if we reasonably believe that:
- You are violating or attempting to violate these Terms;
- Your use poses a security, compliance, or reputational risk;
- Your use of the Services exposes us to risk or liability;
- It is not commercially viable to continue providing you with our Services;
- It is required by a third-party, applicable law, or governmental authority.
Taxes
Users are responsible for their own tax obligations in their respective jurisdictions. We do not provide tax documentation or regulatory reporting on your behalf.
Users should be aware that blockchain-based transactions are a novel concept, and their tax treatment can be uncertain or unclear.
No Professional Advice
The Services, documentation, and any communication from the Interface are for informational purposes only and should not be construed as professional advice. This does not constitute financial, investment, legal, or tax advice. You should consult qualified professionals before making any financial decisions.
No Custody / No Fiduciary Relationship
The protocol is a decentralized protocol and does not at any point take custody of your digital assets. All assets remain under your control through your custodial wallet.
No fiduciary, broker, agent, or advisory relationship is created between you and our platform by your use of the Services.
Disclaimers
The Services are provided on an "as is" and "as available" basis. To the fullest extent allowed by law, we disclaim all express or implied warranties and conditions, including those of merchantability, fitness for a particular purpose, and non-infringement.
We do not guarantee or accept responsibility for:
- The Services being accurate, complete, up-to-date, reliable, uninterrupted, timely, secure, or free of errors.
- Any harm or damage arising from use of the Services.
- The presence of harmful or malicious code that may impact the operation or performance of the Services.
Limitation of Liability
To the maximum extent permitted under applicable law, we will not be liable to you for any loss, damage, or injury of any kind. This includes, without limitation, direct, indirect, special, incidental, exemplary, consequential, or punitive damages.
In no circumstance will our total cumulative liability to you or any other user, across all claims and causes of action, exceed one thousand U.S. dollars (USD $1,000).
Indemnity
You agree to take responsibility for, and protect us against, any claims, losses, damages, liabilities, costs, or expenses (including legal fees) that arise out of or relate to:
- Your misuse or improper use of the Services;
- Any breach of these Terms by you;
- Your violation of applicable laws or regulations;
- Your infringement or violation of the rights of third parties.
Dispute Resolution
Before starting any legal proceeding against us, both you and we agree to first try to resolve any dispute through good faith discussions. The recipient of the notice will have thirty (30) days to respond.
If a Dispute cannot be resolved through negotiation, it will be settled by binding arbitration in accordance with the International Arbitration Rules of the International Centre for Dispute Resolution. The arbitration will take place in the Cayman Islands, and the proceedings will be conducted in English.
Governing Law
These Terms and any separate agreements whereby we provide you Services shall be governed by and construed in accordance with the laws of the Cayman Islands.
Amendments or Updates
We reserve the right to update or change these Terms with a newer amended version. The amendments or updates shall be effective at the time of publication. The continued use of the Services after you are notified of such amendments constitutes acceptance.
If you do not agree with any modifications to this Agreement, you must immediately stop accessing and using the Interface.
Communication
For any inquiries, comments or feedback, you may contact us using one of the following channels:
- Email: contact@ern.app