Terms and Conditions
Terms of Service
Last Updated: March, 2023
These Terms and Conditions (“Terms”) govern your use of the Yug wallet decentralized wallet application (the “Service”). By using the Service, you agree to these Terms.
1. Service Description
The Service is a decentralized wallet application that allows you to manage your digital assets on a decentralized blockchain network. The Service does not store your digital assets on its servers, but instead enables you to store your digital assets using your wallet private key and a decentralized storage platform.
To use the Service, you must be at least 18 years old and capable of entering into a legally binding agreement. By using the Service, you represent and warrant that you meet these eligibility requirements.
3. Your Account
To use the Service, you must create an account by generating a wallet private key. You are solely responsible for maintaining the confidentiality of your wallet private key and for all activities that occur under your account. You agree to immediately notify us of any unauthorized use of your account or any other breach of security.
4. Registration and Your Information
If you want to use the Services you’ll have to create an account (“Account”) via the App. You agree that you won’t disclose your Account credentials to anyone and you’ll notify us immediately of any unauthorized use of your Account. If you suspect that your Account or any of your security details have been compromised or if you become aware of any fraud or attempted fraud or any other security incident (including a cyber-security attack) affecting you, your Account, and/or Yug Network, you must notify Yug Network Support immediately and provide accurate and up to date information throughout the duration of the incident. You’re responsible for all activities that occur under your Account, or are otherwise referable to your Account credentials, whether or not you know about them. We reserve the right to suspend or terminate your Account, including if you provide inaccurate, untrue, or incomplete information, or if you fail to comply with the Account registration requirements or these terms.
You are solely responsible for the retention and security of your Account credentials and your twelve word recovery phrase (“Recovery Phrase”). Your Recovery Phrase is the only way to access the cryptocurrency associated with your Account. Anyone that has access to your Recovery Phrase can access your cryptocurrency. IF YOU LOSE YOUR RECOVERY PHRASE, YOU WILL NOT BE ABLE TO ACCESS YOUR CRYPTOCURRENCY ON THE APP. YOU ACKNOWLEDGE THAT YUG NETWORK DOES NOT STORE AND IS NOT RESPONSIBLE IN ANY WAY FOR THE SECURITY OF YOUR RECOVERY PHRASE. YOU AGREE TO HOLD YUG NETWORK AND ITS AFFILIATES HARMLESS FOR ANY LOSSES ARISING FROM YOU LOSING YOUR RECOVERY PHRASE. YOU AGREE THAT YUG NETWORK AND ITS AFFILIATES SHALL NOT BE LIABLE IN ANY WAY IF YOU LOSE YOUR RECOVERY PHRASE AND CANNOT ACCESS YOUR CRYPTOCURRENCY.
We may charge fees for some or part of the Services we make available to you. We reserve the right to change those fees at our discretion. We will disclose the amount of fees we will charge you for the applicable Service at the time that you access the Service.
You may incur charges from third parties for use of linked services. For example, you may be charged fees via the Dapps and/or DEXs that you may access via the App. You may also be charged fees by Yug Network, Inc. (or one of its affiliates, depending on your location) if you transact in your Yug Network account from the App (if you elect to link the App to your Yug Network account). Third party fees are not charged by Yug Network and are not paid to Yug Network.
6. Prohibited Activities
You agree not to use the Service for any illegal or unauthorized purpose, including:
- Violating any applicable laws, regulations, or rules;
- Attempting to gain unauthorized access to the Service or other users’ accounts;
- Harassing, intimidating, or threatening other users of the Service;
- Impersonating another person or entity;
- Transmitting any virus, worm, or other malware to the Service or other users; or
- Interfering with or disrupting the Service or other users’ use of the Service.
7. Disclaimer of Warranties
The Service is provided “as is” and “as available,” without warranty of any kind, express or implied, including but not limited to the warranties of merchantability, fitness for a particular purpose, and non-infringement. We do not warrant that the Service will meet your requirements or that it will be uninterrupted, timely, secure, or error-free.
8. Limitation of Liability
In no event shall we be liable for any direct, indirect, incidental, special, or consequential damages arising out of or in connection with your use of the Service, including but not limited to damages for loss of profits, goodwill, use, data, or other intangible losses, even if we have been advised of the possibility of such damages.
You agree to indemnify, defend, and hold us harmless from any and all claims, damages, liabilities, costs, and expenses (including reasonable attorneys’ fees) arising out of or in connection with your use of the Service or your breach of these Terms.
10. Intellectual Property
We own all intellectual property rights in the Service, including but not limited to copyright, trademark, and trade secret rights. You may not copy, modify, distribute, sell, or transfer any part of the Service without our prior written consent.
11. Acceptable Use and Enforcement Rights
You agree not to use the Services in ways that:
- Violate, misappropriate, or infringe the rights of Yug Network, our users, or others, including privacy, publicity, intellectual property, or other proprietary rights;
- Are illegal, defamatory, threatening, intimidating, or harassing;
- Involve impersonating someone;
- Breach any duty toward or rights of any person or entity, including rights of publicity, privacy, or trademark;
- Involve sending illegal or impermissible communications such as bulk messaging, auto-messaging, auto-dialing, and the like;
- Avoid, bypass, remove, deactivate, impair, descramble or otherwise circumvent any technological measure implemented by us or any of our service providers or any other third party (including another user) to protect the Services or Content;
- Disguise your location through IP proxying or other methods;
- Interfere with, or attempt to interfere with, the access of any user, host or network, including, without limitation, sending a virus, overloading, flooding, spamming, or mail-bombing the Services;
- Violate any applicable law or regulation; or
- Encourage or enable any other individual to do any of the foregoing.
Although we have no obligation to monitor any User Content, we have absolute discretion to remove User Content at any time and for any reason without notice. You understand that by using the Services, you may be exposed to User Content that is offensive, indecent, or objectionable. We take no responsibility and assume no liability for any User Content, including any loss or damage to any of your User Content.
You agree to comply with all applicable laws including but not limited to export restrictions, end-user restrictions, antiterrorism laws, and economic sanctions. You are not permitted to download the App or use the Services if doing so would violate applicable laws and regulations, including but not limited to those promulgated by the United Nations Security Council, Singapore, the United Kingdom, the United States (including those prohibiting dealings with sanctioned persons identified by the U.S. Department of the Treasury’s Office of Foreign Assets Control Specially Designated Nationals and Blocked Persons (“SDN”), or other U.S. non-SDN restricted or prohibited parties lists, and those prohibiting dealings with persons organized, resident, or located in comprehensively sanctioned jurisdictions), and/or any other applicable national, provincial, federal, state, municipal or local laws and regulations (each as amended from time to time).
12. Third Party Materials and DEXs
The Services and App may contain links to third-party services, DEXs, and/or Dapps (“Third Party Materials”). The Services enable you to access Dapps via a Dapp browser, WalletLink by navigating away from the App to the Dapp, by enabling a native frontend software link within the App, and/or by purchasing assets in a DEX environment through the App or trade on DEX functionality. When using any Third Party Materials, you understand that you are at no time transferring your assets to us. We provide access to Third Party Materials only as a convenience, do not have control over their content, and do not recommend, warrant or endorse, and are not responsible for the availability or legitimacy of, the content, products, services, or assets on or accessible from those Third Party Materials (including any related websites, resources or links displayed therein). You are solely responsible for any fees or costs associated with accessing Third Party Materials.
We make no warranties or representations, express or implied, about such linked Third Party Materials, the third parties they are owned and operated by, the information contained on them,the suitability of their products or services, or the assets they make accessible. You acknowledge sole responsibility for and assume all risk arising from your use of any Third Party Materials, third-party websites, applications, or resources. Third Party Materials, such as Dapps and DEXs, may provide access to assets which have high risks of illiquidity, devaluation, lockup, or loss. Yug Network and its affiliates shall not bear any liability, whatsoever, for any damage caused by any Third-Party Materials. You should use care in linking your Wallet with any Third-Party Materials or otherwise providing any third-parties with access to your App.
You may be able to link the App to your Yug Network account to enable access to your Yug Network account from the App.
We may terminate or suspend your account and access to the Service at any time and for any reason, without notice or liability to you. Upon termination, you must immediately cease all use of the Service.
14. Governing Law
These Terms shall be governed by and construed in accordance with the laws of New York, USA, without regard to its conflict of law provisions.
15. Dispute Resolution
Any dispute arising out of or in connection with these Terms shall be resolved through binding arbitration in accordance with the rules of the American Arbitration Association, New York. The arbitration shall take place in New York, and the parties agree to submit to the personal jurisdiction of the courts located in New York for the purpose of enforcing any arbitration award.
16. Changes to Terms
We may update these Terms from time to time in our sole discretion. If we make material changes to these Terms, we will notify you by email or by posting a notice on the Service. Your continued use of the Service after the effective date of any changes to these Terms constitutes your acceptance of those changes.
These Terms constitute the entire agreement between you and us with respect to the Service, and supersede all prior or contemporaneous communications and proposals, whether oral or written, between you and us. If any provision of these Terms is found to be unenforceable or invalid, that provision will be limited or eliminated to the minimum extent necessary so that these Terms will otherwise remain in full force and effect and enforceable. Our failure to enforce any part of these Terms shall not constitute a waiver of our right to later enforce that or any other part of these Terms. You may not assign, transfer, or sublicense these Terms or any of your rights or obligations hereunder without our prior written consent. We may assign these Terms or any of our rights or obligations hereunder without your prior written consent.
YOU EXPRESSLY ACKNOWLEDGE AND AGREE THAT USE OF THE SERVICES (INCLUDING ANY PRIVATE KEY STORAGE SERVICE OFFERED AS PART OF THE SERVICES, WHETHER CLOUD OR HARDWARE-BASED) AND CONTENT IS AT YOUR SOLE RISK AND THAT THE ENTIRE RISK AS TO SATISFACTORY QUALITY, PERFORMANCE, ACCURACY AND EFFORT IS WITH YOU. THE APP, SITE AND SERVICES ARE PROVIDED ON AN “AS IS” AND “AS AVAILABLE” BASIS WITHOUT ANY REPRESENTATION OR WARRANTY, WHETHER EXPRESS, IMPLIED OR STATUTORY. TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, YUG NETWORK SPECIFICALLY DISCLAIMS ANY EXPRESS OR IMPLIED WARRANTIES OF TITLE, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND/OR NON-INFRINGEMENT. TOSHI HOLDINGS DOES NOT MAKE ANY REPRESENTATIONS OR WARRANTIES THAT ACCESS TO THE SERVICES OR ANY OF THE MATERIALS CONTAINED THEREIN WILL BE CONTINUOUS, UNINTERRUPTED, TIMELY, OR ERROR-FREE. SERVICE INTERRUPTIONS MAY CAUSE YOU TO BE SIGNED OUT OF YOUR ACCOUNT AND REQUIRE YOU TO RE-ENTER YOUR RECOVERY PHRASE TO REGAIN ACCESS.
USE OF ANY PRIVATE KEY STORAGE SERVICE INCLUDED AS PART OF THE SERVICES IS OFFERED TO YOU AS A CONVENIENCE, SUBJECT TO THE LIMITATIONS ABOVE. YOU ARE SOLELY IN CONTROL OF AND RESPONSIBLE FOR STORING AND SECURING YOUR PRIVATE KEY AND RECOVERY PHRASE FOR THE APP. TOSHI DOES NOT STORE A BACKUP OF, AND WILL NOT BE ABLE TO RECOVER, YOUR PRIVATE KEY OR RECOVERY PHRASE. IF YOU LOSE YOUR RECOVERY PHRASE, THEN YOU WILL LOSE ACCESS TO ALL ASSETS YOU HAVE STORED IN YOUR WALLET. DO NOT LOSE YOUR RECOVERY PHRASE.YOU SHOULD ALWAYS BACKUP YOUR Yug Network WALLET PRIVATE ACCESS KEY VIA SECONDARY MEANS.
You agree that you will indemnify and hold harmless Yug Network and its affiliates, officers, directors, employees and agents, from and against any claims, disputes, demands, liabilities, damages, losses, and costs and expenses, including, without limitation, reasonable legal and accounting fees arising out of or in any way connected with (i) your access to or use of the Services or Content, (ii) your User Content, (iii) Third Party Materials, or (iv) your violation of these Terms.
Limitation of Liability
TO THE MAXIMUM EXTENT NOT PROHIBITED BY LAW, YUG NETWORK AND ITS AFFILIATES SHALL NOT BE LIABLE FOR DAMAGES OF ANY TYPE, WHETHER DIRECT OR INDIRECT, ARISING OUT OF OR IN ANY WAY RELATED TO YOUR USE OR INABILITY TO USE THE SERVICES, INCLUDING BUT NOT LIMITED TO DAMAGES ALLEGEDLY ARISING FROM THE COMPROMISE OR LOSS OF YOUR LOGIN CREDENTIALS OR FUNDS, OR LOSS OF OR INABILITY TO RESTORE ACCESS FROM YOUR RECOVERY PHRASE, OR FOR MISTAKES, OMISSIONS, INTERRUPTIONS, DELAYS, DEFECTS AND/OR ERRORS IN THE TRANSMISSION OF TRANSACTIONS OR MESSAGES TO ANY DIGITAL ASSET NETWORK, OR THE FAILURE OF ANY MESSAGE TO SEND OR BE RECEIVED BY THE INTENDED RECIPIENT IN THE INTENDED FORM, OR FOR DIMINUTION OF VALUE OF ETHER OR ANY OTHER DIGITAL TOKEN OR DIGITAL ASSET ON A DIGITAL ASSET NETWORK. YUG NETWORK SHALL NOT BE LIABLE UNDER ANY CIRCUMSTANCES FOR ANY LOST PROFITS OR ANY SPECIAL, INCIDENTAL, INDIRECT, INTANGIBLE, OR CONSEQUENTIAL DAMAGES, WHETHER BASED IN CONTRACT, TORT, NEGLIGENCE, STRICT LIABILITY, OR OTHERWISE, ARISING OUT OF OR IN CONNECTION WITH AUTHORIZED OR UNAUTHORIZED USE OF THE SERVICES, EVEN IF AN AUTHORIZED REPRESENTATIVE OF YUG NETWORK HAS BEEN ADVISED OF OR KNEW OR SHOULD HAVE KNOWN OF THE POSSIBILITY OF SUCH DAMAGES.
YUG NETWORK MAKES NO WARRANTIES OR REPRESENTATIONS, EXPRESS OR IMPLIED, ABOUT LINKED THIRD PARTY SERVICES, THE THIRD PARTIES THEY ARE OWNED AND OPERATED BY, THE INFORMATION CONTAINED ON THEM, ASSETS AVAILABLE THROUGH THEM, OR THE SUITABILITY, PRIVACY, OR SECURITY OF THEIR PRODUCTS OR SERVICES. YOU ACKNOWLEDGE SOLE RESPONSIBILITY FOR AND ASSUME ALL RISK ARISING FROM YOUR USE OF THIRD-PARTY SERVICES, THIRD-PARTY WEBSITES, APPLICATIONS, OR RESOURCES, INCLUDING RISK OF LOSS FOR ASSETS TRADED THROUGH SUCH THIRD-PARTY SERVICES. YUG NETWORK SHALL NOT BE LIABLE UNDER ANY CIRCUMSTANCES FOR DAMAGES ARISING OUT OF OR IN ANY WAY RELATED TO SOFTWARE, PRODUCTS, SERVICES, AND/OR INFORMATION OFFERED OR PROVIDED BY THIRD-PARTIES AND ACCESSED THROUGH THE APP, SITE OR SERVICES, INCLUDING ANY DAPPS.
SOME JURISDICTIONS DO NOT ALLOW THE LIMITATION OF LIABILITY FOR PERSONAL INJURY, OR OF INCIDENTAL OR CONSEQUENTIAL DAMAGES, SO THIS LIMITATION MAY NOT APPLY TO YOU. IN NO EVENT SHALL YUG NETWORK’ TOTAL LIABILITY TO YOU FOR ALL DAMAGES (OTHER THAN AS MAY BE REQUIRED BY APPLICABLE LAW IN CASES INVOLVING PERSONAL INJURY) EXCEED THE AMOUNT OF ONE HUNDRED U.S. DOLLARS ($100.00 USD) OR ITS EQUIVALENT IN THE LOCAL CURRENCY OF THE APPLICABLE JURISDICTION.