Terms & Conditions
SeahorseFi Terms & Conditions
These terms and conditions (“Terms”) constitute a legal agreement between SeahorseFi. (“SeahorseFi”, “we”, “us”, or “Company”) and you under which you can utilise the SeahorseFi services that may be offered by SeahorseFi
“You” refers to any person accessing, or using any services as accessible through, our websites located at SeahorseFi and any other website operated by us on which these Terms are posted (collectively, the “Sites”).
You and the Company shall hereinafter be referred to individually as a “Party”, and collectively as the “Parties”.
1.1. SeahorseFi provides a website-hosted user interface (the “Interface”) for accessing SeahorseFi, a lending & borrowing protocol on the DeFiChain blockchain, and related content and functionality to you through the Sites and through our related technologies (collectively, the Interface, Protocol and Sites, including all existing and any updated or new features, functionality and technology, the “Service”).
1.2. SeahorseFi is only compatible with the Supported Digital Assets specified in the Service. To use our Service, you must use a Third-Party Wallet that is compatible with the respective Supported Digital Assets that you use to interact with the Service.
1.3. All access and use of the Service is subject to these Terms (as amended from time to time). By accessing, browsing, or otherwise using the Sites, the Interface, or any other aspect of the Service, you acknowledge that you have read, understood, and agree to be bound by these Terms. If you are using the Service on behalf of an entity or other organization, you are agreeing to these Terms for that entity or organization and representing to SeahorseFi that you have the authority to bind that entity or organization to these Terms (and, in which case, the terms “you” and “your” will refer to that entity or organization).
1.4. PLEASE READ THESE TERMS CAREFULLY, AS THEY CONTAIN AN ARBITRATION AGREEMENT, CLASS ACTION WAIVER, AND OTHER IMPORTANT INFORMATION REGARDING YOUR LEGAL RIGHTS, REMEDIES, AND OBLIGATIONS THAT WILL IMPACT ANY DISPUTE RESOLUTION.
THE ARBITRATION AGREEMENT AT CLAUSE 12 HEREIN REQUIRES (WITH LIMITED EXCEPTION) THAT YOU SUBMIT CLAIMS YOU HAVE AGAINST US TO BINDING AND FINAL ARBITRATION.
FURTHER,
(a) YOU WILL ONLY BE PERMITTED TO PURSUE CLAIMS AGAINST SEAHORSEFI ON AN INDIVIDUAL BASIS, AND YOU IRREVOCABLY WAIVE ANY RIGHT YOU MAY HAVE TO SERVE AS A REPRESENTATIVE OR TO PARTICIPATE AS A MEMBER OF A CLASS OF CLAIMANTS IN ANY CLASS OR REPRESENTATIVE ACTION OR PROCEEDING,
(b) YOU WILL ONLY BE PERMITTED TO SEEK RELIEF (INCLUDING MONETARY, INJUNCTIVE, AND DECLARATORY RELIEF) ON AN INDIVIDUAL BASIS, AND
(c) YOU AGREE THAT YOU WILL NOT BE ABLE TO HAVE ANY CLAIMS YOU HAVE AGAINST US RESOLVED BY A JURY OR IN A COURT OF LAW.
1.5. We reserve the right, at our sole discretion, to revise these Terms at any time with or without notice to you and any changes will be posted on this page. These changes shall take effect from the date of upload and your continued access or use of the Sites and/or the Service from such date shall be deemed to constitute acceptance of the new Terms. It shall be your sole responsibility to check the Sites for such changes from time to time. If you do not agree to these Terms, you are EXPRESSLY PROHIBITED from using the Sites and must discontinue your access, browsing, or usage (or continued access, browsing, or usage) of the Service.
1.6. If you breach any of the Terms, your authorization to use the Interface, the Protocol, the Sites, the Service and/or any content on the Sites will automatically terminate. Any content downloaded, printed, or otherwise saved from the Site, whether authorized or unauthorized, must be immediately destroyed. SeahorseFi reserves the right to pursue any additional legal or equitable remedies.
1.7. No information contained in or on, and no part of the following:
(a) the Sites;
(b) any electronic sites, communication or applications directly or indirectly linked to the Sites; or
(c) any other information or document,
shall constitute part of these Terms (unless otherwise stated on the Sites or in these Terms), and no representations, warranties or undertakings are or are intended or purported to be given by SeahorseFi in respect of any information contained in or on the Sites.
2.1. Definitions
In these Terms, unless the context otherwise requires:
“Address” means an address on the applicable digital ledger or blockchain network;
“Affiliate” means the Company and any other entity that, directly or indirectly through one or more intermediaries, controls, is controlled by, or is under common control with, the Company, where control may be by either management authority, contract or equity interest;
“Digital Asset” means any cryptographic asset, digital asset or virtual currency including but not limited to the Supported Digital Assets;
“Fork” means a change in the existing source code or the creation of new or additional source code for a blockchain;
“Loss” means any and all losses, claims, liabilities, damages, suits, actions, demands, proceedings, costs, charges and/or expenses of whatsoever nature or howsoever arising, including any indirect, special, incidental, consequential or other losses of any kind, in tort, contract or otherwise (including but not limited to loss of revenue and income or profits and/or any actual or hypothetical gains);
“Network Attack & Vulnerabilities” means hacks, cyber-attacks, network attacks (including but not limited to double-spend attacks, majority mining power attacks and “selfish-mining” attacks, 51% or network attacks), distributed denials of service or errors, or any attacks, vulnerabilities or defects on the network;
“Network Fees” means such transaction cost payable, whether denominated in Digital Assets or otherwise, for the use of or execution of transactions on a network;
“Smart Contract” means a decentralized computer program running on a blockchain network that automatically and deterministically executes agreements based on predefined conditions;
“Third-Party Services” means services, sites, technology, applications and resources that are provided or otherwise made available by third parties.
“Supported Digital Assets” means the Digital Asset as may be set out on the Sites to be a Digital Asset for which the Service is made available, or such other Digital Assets as determined by the Company in accordance with Paragraph 7 of these Terms;
“Third-Party Wallet” means a Third-Party cryptocurrency wallet that is compatible with the respective Supported Digital Assets that you use to interact with the Service.
2.2. Miscellaneous
In these Terms, unless the context otherwise requires:
words importing the singular include the plural and vice versa, words importing any gender include every gender;
references to a “person” include any company, limited liability partnership, partnership, business trust or unincorporated association (whether or not having separate legal personality) and references to a “company” include any company, corporation or other body corporate, wherever and however incorporated or established;
paragraph headings are for convenience of reference only and shall not affect the interpretation of these Terms;
the words “written” and “in writing” include any means of visible reproduction; and
any “Digital Asset” may be constituted in an amount that is not a whole number.
3.1. Legal and compliance requirements on eligibility
3.1.1. “Disqualified Person/Entity” means (a) any person or body corporate seeking to access the Sites / use the Service from within the Excluded Jurisdictions; (b) any person or body corporate who or which is currently the subject of any sanction administered by the OFAC or any other United States government authority, is designated as a "Specially Designated National" or "Blocked Person" by OFAC; (c) any person (being a natural person) who is citizen of, domiciled in, or resident of, a country whose laws prohibit or conflict with the access of the Sites or use of the Service; and/or (d) anybody corporate that is incorporated in, domiciled in, or organised in, a country whose laws prohibit or conflict with the access of the Sites or use of the Service;
3.1.2. Access to the Sites is intended for and extended only to, and the Service are intended for and extended only to, a person or body corporate who is not a Disqualified Person/Entity. By accessing the Sites or using the Service, you represent and warrant that you are not a Disqualified Person/Entity.
3.1.3. Accordingly, you are not eligible to access the Sites or use the Service if you are a Disqualified Person/Entity. If you are a Disqualified Person/Entity, or if you are acting on behalf of a Disqualified Person/Entity, you must exit the Sites and cease usage of all Service immediately.
3.1.4. You also agree to comply and to be solely liable to assure compliance by you and/or your clients (where applicable) with all applicable laws and regulation including, without limitation, any anti-money laundering laws, consumer protection laws and tax laws and regulations as shall be from time to time.
3.2. Modification, suspension, or termination of the Service
3.2.1. SeahorseFi reserves the right to modify, suspend, or discontinue the Service (or any part thereof) with or without notice. You agree that SeahorseFi will not be liable to you or to any third party for any modification, suspension or discontinuance of the Service.
3.2.2. We may also have to cease operations in a jurisdiction that makes it illegal to operate in such jurisdiction, or make it commercially unviable or undesirable to obtain the necessary regulatory approval(s) to operate in such jurisdiction.
4.1. If you are blocked by BSeahorseFi from accessing the Service (including by blocking your IP address), you agree not to implement any measures to circumvent such blocking (e.g., by masking your IP address or using a proxy IP address or virtual private network).
4.2. No professional advice
4.2.1 None of the information available on the Sites or made available to you in relation to the use of Service constitutes any advice, including but not limited to legal, tax, financial or trading advice. Before you make any financial, legal, or other decisions involving the Service, you should seek independent professional advice from an individual who is licensed and qualified in the area for which such advice would be appropriate.
4.2.2. We do not act as your custodian, fund manager, trustee or investment adviser and no fiduciary relationship exists between you and SeahorseFi. To the fullest extent permitted by law, you acknowledge and agree that we owe no fiduciary duties or liabilities to you or any other party, and that to the extent any such duties or liabilities may exist at law or in equity, those duties and liabilities are hereby irrevocably disclaimed and/or waived.
4.3. Intellectual property
4.3.1 By using the Service, you confirm that you have not, and you will not aid, abet, encourage or induce any third party to engage in any intellectual property infringement through any transactions, activities, and/or actions that: -
4.3.1.1. (whether or not involving items) infringe or violate any copyright, trademark, right of publicity or privacy or any other proprietary right under the law without our express prior written consent;
4.3.1.2. modify, copy, reproduce, retransmit, distribute, sell, publish, broadcast, create derivative works from, or store proprietary or confidential data or other similar information provided via the Sites, without our express prior written consent;
4.3.1.3. make use of intellectual property, name, or logo, including use of trade or service marks belonging to SeahorseFi, without express consent from us or in a manner that otherwise harms SeahorseFi;
4.3.2. Other company, product, and service names and logos used and displayed via the Service may be trademarks or service marks of their respective owners who may or may not endorse or be affiliated with or connected to SeahorseFi
4.4. Third-Party material or content
4.4.1. You agree that SeahorseFi shall not be liable in any way for any content or materials of any third parties (including users), including for any errors or omissions in any content, or for any loss or damage of any kind incurred as a result of the use of any such content.
4.4.2. SeahorseFi and its designees will have the right to remove from the Site any content in SeahorseFi’s sole discretion. You agree that you must evaluate, and bear all risks associated with, the use of any content, including any reliance on the accuracy, completeness, or usefulness of such content.
4.5. Third-Party services
4.5.1. This Service may provide access to or allow you to connect services, sites, technology, applications and resources that are provided or otherwise made available by third parties (the “Third-Party Services”). Your access and use of the Third-Party Services may also be subject to additional terms and conditions, privacy policies, or other agreements with such third party. SeahorseFi has no control over and is not responsible for such Third-Party Services, including for the accuracy, availability, reliability, or completeness of information shared by or available through Third-Party Services, or on the privacy practices of Third-Party Services.
4.5.2. You may be subject to additional terms and conditions that may apply when you use Third-Party Services, third-party content or third-party software embedded, utilised, or linked on the Sites. We encourage you to review the terms and conditions as well as privacy policies of the third parties providing Third-Party Services prior to using such services.
4.5.3. You, and not SeahorseFi, will be responsible for any and all costs and charges associated with your use of any Third-Party Services.
4.5.4. The integration or inclusion of such Third-Party Services does not imply an endorsement or recommendation.
4.5.5. Any dealings you have with third parties while using the Service are between you and the third party. SeahorseFi will not be responsible or liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with use of or reliance on any Third-Party Services.
7.1. We shall have sole and absolute discretion to determine the type of Digital Assets which qualify as Supported Digital Assets in respect of which we will offer the Service.
7.2. Notwithstanding such Supported Digital Assets as may be set out on the Sites, we may from time to time in our sole and absolute discretion and without prior notice to you:
7.2.1. include additional Digital Assets as Supported Digital Assets in respect of which we will offer the Service;
7.2.2. exclude Digital Assets from existing Supported Digital Assets whereupon we shall cease to provide the Service in respect to it; and
7.2.3. restrict or limit the availability of our Service in respect of any Supported Digital Assets.
7.3. Unless otherwise determined by us in our sole and absolute discretion, the Supported Digital Assets shall not include any derivative of such Supported Digital Assets (whether resulting from a Fork or otherwise) unless such derivative has been included by us as Supported Digital Assets. In the event of a Fork in relation to the Supported Digital Assets, you acknowledge and agree that we or our Affiliates shall not be obliged to notify you of any Fork, claim any tokens, rewards or any applicable distribution attributable to your deposited Supported Digital Assets or respective Validator Token, or otherwise be responsible for any Loss in relation to the Fork.
7.4. SeahorseFi will not be liable for any reason for any fluctuation in the value of
(i) the Supported Digital Assets deposited to the deposit contract or any other tokens issued by the protocol
8.1. The Service is provided on an “as is” and “where is” basis and, to the maximum extent permitted under applicable law, SeahorseFi makes no warranty of any kind, express or implied, by statute or otherwise, including but not limited to any implied warranties of merchantability, fitness for a particular purpose, title, or non-infringement. SeahorseFi does not warrant that the service will function uninterrupted, that it will meet your requirements or expectations, that it is error-free, or that any errors will be corrected. You acknowledge and agree that to the extent permitted by applicable law, your use of the Service is at your sole responsibility and risk.
8.2. There may be partial or total loss of your Digital Assets arising from the transfer to or from, holding, placement or storage, of your Digital Assets with the Service. For example, without limitation, a loss may be incurred when any digital assets collateral are compromised as a result of technological faults, smart contract bugs or a cyber-attack on the Service, the Supported Validator Network, or SeahorseFi In no event will SeahorseFi, or any developers that contributed to the Service or the protocol, be liable to you for: -
(a) any lost profits,
(b) periods of high volume, illiquidity, or volatility in any such market for any Digital Asset or market disruption of any kind, and/or
(c) incidental, indirect, special, or consequential damages,
arising out of your use or inability to use SeahorseFi, even if advised of the possibility of such damages or potential liabilities.
8.3. Understanding cryptographic token technology requires technical knowledge
8.3.1. Cryptographic tokens are complex and are often described in exceedingly technical language that may require a comprehensive understanding of applied cryptography and computer science in order to appreciate the inherent risks. By accessing and using the Service, you represent and warrant that you have a basic degree of understanding of the risks, operation, functionality, usage, storage, transmission mechanisms, and other material characteristics of digital ledger and blockchain assets, cryptographic tokens such as those following the Ethereum token standard (ERC-20), bridging across different blockchain solutions, digital ledger and blockchain-based software systems, cryptographic token wallets or other related token storage mechanisms, digital ledger and blockchain technology, proof-of-stake mechanisms, Lending/Borrowing, Options and smart contract technologies.
8.4. Inherent Volatility and Risks
8.4.1. You understand that the markets for Digital Assets are highly volatile. There is no assurance that an active or liquid market for the Digital Assets will continue to remain or develop. As such, there is no assurance that your Digital Assets will have any value. The Digital Assets are not a currency issued by any central bank or national, supra-national or quasi-national organisation, nor are they backed by any hard assets or other credit. Sale and purchase of the Digital Assets depends on the consensus on their value between the relevant market participants, there is no guarantee as to the liquidity or market price of the Digital Assets to any extent at any time.
8.4.2. You acknowledge and accept that the costs and speed of transacting with cryptographic and blockchain based systems are variable and may increase sharply at any time.
8.4.3. You further acknowledge and accept the risk that your Digital Assets may lose some or all of their value while they are supplied to the Protocol through the Interface.
8.4.4. You acknowledge and agree that you shall access and use the Service at your own risk.
8.4.5. The Service relies on open-source software (OSS), and does not have custody, control, or oversight over the open-source software or public blockchains that you interact with via the Service.
8.4.6. You further acknowledge that we are not responsible for any of these variables or risks, and cannot be held liable for any resulting losses that you experience while accessing or using the service. accordingly, you understand and agree to assume full responsibility for all of the risks of accessing and using the Service, including the Interface to interact with the Protocol.
9.1. You agree to defend, indemnify, and hold harmless SeahorseFi and all its affiliates, from any and all losses, damages, expenses, including reasonable legal fees, rights, claims, actions of any kind, and injury (including death) arising out of or relating to your use of the Service, Your Apps, any User Content, your connection to the Service, your violation of these Terms, your violation of any rights of another, and/or a breach of any warranty, representation, or obligation hereunder. SeahorseFi will provide notice to you of any such claim, suit, or proceeding. SeahorseFi reserves the right to assume the exclusive defense and control of any matter which is subject to indemnification under this section, and you agree to cooperate with any reasonable requests assisting SeahorseFi’s defense of such matter. You may not settle or compromise any claim against the SeahorseFi without SeahorseFi's written consent.
9.2. You expressly agree that you assume all risks in connection with your access and use of the Service, and expressly waive and release SeahorseFi from any and all resultant and/or related liability, claims, causes of action, or damages. In giving this release, which includes claims which may be unknown at present, you represent, warrant and agree that you have been fully advised by your solicitor of applicable laws relating to release of liability, such as Section 1542 of the Civil Code of the State of California, which states that: “A general release does not extend to claims that the creditor or releasing party does not know or suspect to exist in his or her favor at the time of executing the release and that, if known by him or her, would have materially affected his or her settlement with the debtor or releasing party.” You expressly waive and relinquish all rights and benefits under that Section and any comparable statute or doctrine that may be applicable to you.
10.1. The performance of the Service is conditional on all of the following:
10.1.1. The Lending/Borrowing market operating as intended;
10.1.2. The Smart Contracts and wallets utilised by and/or connected to the Service operating within their expected parameters determined by the team;
10.1.3. your representations and warranties as set out in Clause 3 of these Terms being true and accurate at all times while you participate in the Service;
10.1.4. neither your use of any of the Service or our provision of the Service, constitute, or would be reasonably expected to result in a breach, default, contravention or violation of any Applicable Law applicable to you or SeahorseFi.
11.1. As far as permitted under applicable law, you agree that the SeahorseFi will not be liable for any indirect, incidental, special, consequential, exemplary damages, or damages for loss of profits including damages for loss of goodwill, use, or data or other intangible losses (even if SeahorseFi has been advised of or should have known the possibility of such damages), whether based on contract, tort, strict liability, or otherwise, resulting from (a) the use or the inability to use the service; (b) the cost of procurement of substitute goods and services resulting from or related to your use of the Service; (c) unauthorized access to or alteration of your transmissions or data; (d) interruption or cessation of function related to the interface; (f) bugs, viruses, trojan horses, or the like that may be transmitted to or through the interface; (g) errors or omissions in, or loss or damage incurred as a result of the use of, any content made available through the interface; or (h) any other matter relating to the service.
11.2. In no event will the SeahorseFi’s total liability to you for all damages, losses, or causes of action exceed the amount you have paid SeahorseFi in the last three (3) months, or, if greater, one U.S. dollars (US$1) by order of law. SeahorseFi may, however, at its own discretion and goodwill aid in this aspect.
11.3. You hereby agree to waive all rights to assert any claims under Applicable Laws and agree that you may make claims based only on these Terms.
11.4. Some jurisdictions do not allow the disclaimer or exclusion of certain warranties or the limitation or exclusion of liability for incidental or consequential damages. accordingly, some of the above limitations of liability may not apply to you or be enforceable with respect to you. If you are dissatisfied with any portion of the service or with these Terms, your sole and exclusive remedy is to discontinue use of the service.
You should carefully consider and evaluate each of the following risk factors and all other information contained in these Terms before deciding to use the Service. To the best of our knowledge and belief, the risk factors which are material to you in making an informed judgment to use the Service have been set out below.
A. RISKS RELATING TO THE SITES AND SERVICE
We may experience system failures, unplanned interruptions in our network or services, hardware or software defects, security breaches or other causes that could adversely affect our infrastructure network, and/or the Sites.
Our Service could be disrupted by numerous events, including natural disasters, equipment breakdown, network connectivity downtime, power losses, or even intentional disruptions of our Service, such as disruptions caused by software viruses or attacks by unauthorised users, some of which are beyond our control. Although we have taken steps to guard against malicious attacks on our appliances and infrastructure, which are critical for the maintenance of the Interface and the Service, there can be no assurance that Network Attacks & Vulnerabilities will not be attempted in the future, and that any of our enhanced security measures will be effective. We may be prone to attacks on our infrastructure intended to steal information about technology, financial data or user information or take other actions that would be damaging to us and users of the Service. Any significant breach of our security measures or other disruptions resulting in a compromise of the usability, stability and security of the protocol
We are dependent in part on the location and datacenter facilities of third parties
Our infrastructure network is in part established on servers which are owned or housed at the location facilities of third parties, and/or servers that it rents at datacenter facilities of third parties. If we are unable to maintain such network on commercially reasonable terms or at all, we may be required to transfer our services to a new datacenter facility, and may incur significant costs and possible service interruption in connection with the relocation. These facilities are also vulnerable to damage or interruption from, among others, natural disasters, arson, terrorist attacks, power losses, and telecommunication failures.
Additionally, the third party providers of such facilities may suffer a breach of security as a result of third party action, employee error, malfeasance or otherwise, and a third party may obtain unauthorised access to the data in such servers. As techniques used to obtain unauthorised access to, or to sabotage systems change frequently and generally are not recognised until launched against a target, SeahorseFi, and the providers of such facilities, may be unable to anticipate these techniques or to implement adequate preventive measures.
Legality of the Service, and/or Supported Digital Assets may be subject to clarification, implementation or change
The Applicable Laws in relation to the Service, and/or the Supported Digital Assets in various jurisdictions may be uncertain and/or subject to clarification, implementation or change. In the event of such clarification, implementation or change, the availability of the Service and/or the Supported Digital Assets (in connection with the Service) may be adversely affected, including but not limited to the suspension or deactivation of the Service and/or the availability of the Supported Digital Assets (in connection with the Service).
We may also have to take measures to comply with such regulations, or have to deal with queries, notices, requests or enforcement actions by regulatory authorities, which may come at a substantial cost and may also require substantial modifications to the Interface. This may impact the appeal of the Interface for users and result in decreased usage of the Interface.
Further, should the costs (financial or otherwise) of complying with such newly implemented regulations exceed a certain threshold, maintaining the Interface may no longer be commercially viable and we may opt to suspend or discontinue the Service. Further, it is difficult to predict how or whether governments or regulatory authorities may clarify, implement or change any Applicable Laws affecting digital ledger technology and its applications, including the Service. We may also have to cease operations in a jurisdiction that makes it illegal to operate in such jurisdiction, or make it commercially unviable or undesirable to obtain the necessary regulatory approval(s) to operate in such jurisdiction.
Certain parts of our work and processes may risk being disrupted by new technologies that may emerge
New technologies may emerge and have a disruptive effect on certain parts of our work and processes. In particular, blockchain and digital ledger technology is rapidly developing and evolving, and technological advancements may render certain or all parts of our work and processes obsolete and ineffective. This may have an adverse effect on the demand for or the availability of the Service and the Supported Digital Assets.
The Interface, User Account, and Supported Digital Assets are exposed to risk of attacks
While we will make every effort to ensure that Interface is secure, there is no assurance that the Interface, or your Third-Party Wallet will not be subject to Network Attacks & Vulnerabilities. Such events may occur as a result of, for example, flaws in programming or source code leading to exploitation or abuse thereof. In such event(s), the Service may be disrupted and the Supported Digital Assets and/or Validator Tokens may even be stolen or diverted to a different address. Unless you specifically obtain private insurance to insure your Supported Digital Assets, you may not have any recourse as a result of such loss of Supported Digital Assets.
There may be unanticipated risks arising from the use of the Service
Money Market services and other Service-related consensus protocols are novel, experimental and speculative, and therefore there is significant uncertainty regarding the application of and viability of such technology. In addition to the risks included hereto, there are other risks associated with your use of the Service, including those that we cannot anticipate. Such risks may further materialise as unanticipated variations or combinations of the risks discussed hereto.
Last updated