These Terms and Conditions ("Terms") are entered into between you ("User", "You" or "Your") and the Yield Financial Services Operators (as defined below) ("Yield", "we", "us" or "our"). It is your responsibility to read these Terms together with the provisions set forth in our Privacy Policy carefully before using this website. By accessing, registering, downloading, using, clicking on information pertaining to or purchasing the Yield Financial Services, tools and information made available through this website and mobile application in any capacity, you agree that you have read, understood, accepted and agree to be bound by these Terms as well as our Privacy Policy when using this website. If you do not agree to these Terms and our Privacy Policy, you should immediately stop using this website or the Yield Financial Services. In addition, when using some features of the Yield Financial Services, you may be subject to specific additional terms and conditions applicable to those features and services provided by Third Party Service Providers and you agree to be bound by the additional terms and conditions with such providers. We reserve the right to modify or amend these Terms, the website or any Content on the website from time to time, including for security, legal or regulatory reasons, to reflect updates or changes to the service or functionality of the website. We may indicate on our web page, on our mobile app or by email that the Terms have changed. You accept that by doing so, we have provided you with sufficient notice of such change. Not withstanding the foregoing, you are advised to check these Terms periodically to ensure that you are aware of and are complying with the terms of the then existing current versions. Changes are binding on all Users of the website and will take effect immediately from the posting of the revised documentation on the website. You agree to be bound by such variation and your continued use of the website, tools and information made available shall constitute your acceptance of such variation. We encourage you to seek professional advice regarding any tax and legal requirements with which you must comply in relation to you being a user of this website, our tools and services.
To the extent there is any conflict or inconsistency between the components of the Terms, such conflict or inconsistency shall be resolved in the following order of precedence, unless a term and condition set out in a document of lower precedence is expressly identified as taking precedence over a document of higher precedence: General Terms, Service Schedules, Privacy Policy and other Yield Financial Services Policies. If the parties agree to enter into a transaction using an electronic medium (for example an internet website) then the terms applicable to that electronic medium shall prevail to the extent they are binding on the parties and are inconsistent with these Terms. A provision of law is a reference to that provision as amended or re-enacted. Headings are for ease of reference only.
Your Yield Finance Account is not a bank account, deposit account, savings account or any other type of asset account and should not be treated or characterised as a banking product or service. YieldFincs is not providing an investment-based or loan-based crowdfunding platform.
When you transfer Digital Assets to YieldFincs they will be held in your Wallet in accordance with these Terms, unless and until you designate such assets for lending by clicking “Earn”, “Lock” or “Stake” on the Yield Finance Platform. Any Digital Assets designated by you to receive interest constitute a loan from you to YieldFincs in accordance with these Terms. By lending your Digital Assets to Yield Finance you grant Yield Finance all rights and title to such Digital Assets, to the fullest extent permitted by law, for Yield Finance to use in its own discretion.
We will use these lent Digital Assets for our own commercial purposes, which may include us investing them with third party exchanges. In return, we will pay you interest in the same Digital Assets you lent to YieldFincs (Yield Finance) and/or in YFS Token in accordance with the rewards tiers published on our website.
All Digital Assets held in your Wallet prior to clicking “Earn”, "Lock" or “Stake” and being designated as lent Digital Assets are assets held by Yield Finance for your benefit on a custodial basis. Among other things, this means:
Title to Digital Assets shall at all times remain with you and shall not be transferred until the designated Digital Assets are lent to Yield Finance the Yield Finance Platform. As the owner of Digital Assets in your Wallet, you shall bear all risk of loss of such Digital Assets. YieldFincs shall not have any liability for fluctuations in the Fiat Currency value of Digital Assets held in your YieldFincs Account.
Other than when lent to YieldFincs on the YieldFincs Platform, none of the Digital Assets in your Wallet are the property of YieldFincs; YieldFincs does not represent or treat assets in a User’s Wallet as belonging to YieldFincs. YieldFincs may not grant a security interest in the Digital Assets held in your Wallet. Except as required by a facially valid court order, or except when lent in accordance with these Terms, YieldFincs will not sell, transfer, loan, hypothecate, or otherwise alienate Digital Assets in your Wallet unless instructed by you or compelled by a court of competent jurisdiction to do so
Prior to designating your Digital Assets as lent to YieldFincs, you control the Digital Assets held in your Wallet. At any time, subject to these Terms, outages, downtime, and other applicable policies, you may withdraw your Digital Assets by sending it to a different wallet address of your choice as you may see fit in your own discretion
In order to hold User’s Digital Assets more securely, YieldFincs may use its blockchain addresses, Cold Storage wallets or other blockchain addresses or wallets as it sees fit to store User’s Digital Assets, separately to Yield’s Fincs Digital Assets. User’s Digital Assets which are held in the User’s Wallet and not lent are identifiably segregated from Yield’s Digital Assets or funds by way of separate ledger accounting entries for User’s and Yield’s Fincs accounts. Not withstanding the foregoing, YieldFincs shall not have any obligation to use different blockchain addresses to store Digital Assets owned by you and Digital Assets owned by other Users or by YieldFincs with respect to lent Digital Assets.
YieldFincs is under no obligation to issue any replacement Digital Assets in the event that any Digital Assets, password or a User’s private key is lost, stolen, malfunctioning, destroyed or otherwise inaccessible.
As part of YieldFincs Services, YieldFincs has engaged various Third Party Service Providers which are regulated and authorised in respect of the services they provide. You acknowledge and agree that our providing access to services with Third Party Service Providers shall not be deemed to confer any requirement for authorisation on the part of YieldFincs, or constitute YieldFincs being regulated or authorised to provide the services that are provided by the Third Party Service Providers.
You acknowledge and agree that any Service referred to in a Service Schedule shall be provided to you by the Operator and/or such Third Party Service Provider specified in that Service Schedule. In such case, the relevant Specified Service shall be provided to you on and subject to these Terms, with references in these Terms to "YieldFincs" (or "we", "our" or "us") being read as references to the Operator or Third Party Service Provider specified in the relevant Service Schedule, unless the context provides otherwise, and under no circumstances shall any other person, including any affiliate of the Operator or Third Party Service Provider, be liable to you for the performance of any of the Operator or Third Party Service Provider's obligations under these Terms.
The regulatory framework governing Digital Assets remains unsettled and laws, regulations, or guidelines may be significantly revised and amended which may materially and adversely affect the value of Digital Assets and our services on the YieldFincs Platform
YieldFincs may be required to obtain licences, permits, and/or approvals in any jurisdiction where it seeks to offer it's Services. If YieldFincs is unable to obtain such regulatory approvals or if such regulatory approvals are not renewed or are revoked for any reason, the Users in such jurisdictions may be unable to access or use the YieldFincs Services or may be restricted to use part of the YieldFincs Services. In the case where YieldFincs may be requested or forced to suspend or discontinue or to change the operation of the YieldFincs Services in any jurisdiction required by law or authorities, your YieldFincs Account may be restricted for an indefinite period of time until the matter is solved
You shall be responsible for determining whether the use of the Our Services is legal in your jurisdiction, and you shall not access or use Our Services if, to the best of your knowledge they are illegal in your jurisdiction. If you are uncertain on the legal status of Digital Assets in your jurisdiction, please seek independent advice from your legal advisor.
The value of Digital Assets are affected by several factors, including but not limited to, the total number of Digital Assets in existence, the continued willingness of market participants to exchange Fiat Currencies for Digital Assets, purchasers' expectations with respect to the rate of inflation of Fiat Currencies, purchasers' expectations with respect to the rate of deflation of cryptocurrencies, interest rates, currency exchange rates, cyber theft of cryptocurrencies, or news of such theft from digital wallets, investment and trading activities of large investors, monetary policies of governments, trade restrictions, currency devaluations and revaluations, regulatory measures, the global or regional political, economic or financial events and situations. Thus, all these factors shall affect the value of Digital Assets, which may result in the permanent partial or total loss of the value of a particular Digital Asset. No one shall be obliged to guarantee the liquidity or the market price of any of the Digital Assets deposited by you into a YieldFincs account. The volatility and unpredictability of the value of Digital Assets relative to Fiat Currencies may result in a significant loss over a short period of time.
You do not have any oversight or control over the Digital Assets that you have lent to Yield, and, subject to the next sentence, any gain or loss from our activities will be borne by YieldFincs and not you. However, if any entity or third party that YieldFincs lends to defaults on its obligations to Us then we may impose limits on your ability to use YieldFincs or reduce the interest rates we are willing to pay. If our losses are large, we have reserved funds to ensure clients Needs are met. Although we cannot remove this risk of losses entirely, to reduce it we perform due diligence on all entities and third parties we deal with.
The tax treatment of Digital Assets is uncertain, and it is your responsibility to determine whether taxes arise from your use of the YieldFincs Services. You acknowledge and agree that YieldFincs does not provide investment, legal or tax advice and that you shall be solely responsible for reporting and paying any applicable taxes arising from your use of the YieldFincs Services
10.1. These Terms constitute the entire agreement between you and Yield Financial Services regarding your use of the Site.
10.2. If any provision of these Terms is found to be invalid or unenforceable, the remaining provisions shall remain in full force and effect.
10.3. Yield Financial Services failure to enforce any right or provision of these Terms shall not be deemed a waiver of such right or provision.
10.4. These Terms are not assignable, transferable, or sublicensable by you except with Yield Financial Services prior written consent.
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