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Terms of use

General Terms and Conditions

The present terms and conditions regulate the execution of the Platform (hereinafter referred to as either Platform or separately and Platform), any User’s registration process, rights and obligations of the Platform and obligations of any User.

  1. Platform Management
    1. The Platform is operated by DAB Foundation OÜ, duly registered and active in the Republic of Estonia (hereinafter referred to as the Platform Operator). The active legislation of the Republic of Estonia applies to the Platform and any agreements or transactions made through it.
  2. Registration on the Platform and Creation of a User Account
    1. Only registered users, who have accepted these Terms and Conditions are deemed to enter into an agreement with the Platform Operator. Only such registered Users are entitled to use the services offered by the, including the opportunity to enter into Loan Agreements with other users acting as either Lenders or Borrowers.
    2. In order to submit a Registration Application and to conclude the Agreement, the User must be eligible, and the User shall confirm that, throughout the use of the Platform, according to the following criteria:
      1. a User is a physical person or legal entity in their respective domicile;
      2. if the User is an individual the User must be at least 18 years old;
      3. no insolvency procedures of the User have been initiated to the best of User’s knowledge;
      4. pursuant to a judgment that has taken effect, the User does not have limited legal capacity due to disorders of mental nature.
    3. The User shall acknowledge that, at the time of submitting the Registration Application and at the conclusion of the Agreement, he/she/it is fully legally capacitated and is not under the influence of alcohol, drugs, psychoactive, toxic, or other intoxicating substances.
    4. The User shall register on the Platform, by filling in a Registration Form and confirming the present Terms and Conditions. After the user has been registered, a User’s Account is automatically created on the Platform. Upon registration of the User on the Platform, assigns a unique User’s ID number.
      1. In order to activate the account and gain full User’s access to the Platform and services, the User must go through the KYC procedure. Failure to provide information necessary for the KYC policy may result in the termination of the account.
    5. To access and use the User’s Account, identifies the User by the User’s email address and password. The User shall be entitled to change the email address and password used for User’s identification in compliance with procedures established on the Platform.
    6. If the User is a legal entity, which has signed the Agreement, then shall identify the signatory, who has been registered as the User and whose right to sign on behalf of the legal entity is confirmed.
      1. The legal entity shall provide all documents requested by via email.
    7. To use services offered on the Platform, and to enter into Loan Agreements, the User must take the steps prescribed in Section 3 of the Terms and Conditions to enable to identify the User in accordance with the applicable AML policy.
    8. may reject the registration of a new user on the Platform without giving a reason for rejection.
    9. The User’s Account is private, and only the owner of the User’s Account (the User) is authorized to enter into and use it.
      1. may provide access to third parties in accordance with the applicable law or on the basis of a related court ruling.
    10. No provision herein shall constitute an investment or loan advice or consultation and in no way shall any of the Parties view as an investment advisor or a loan intermediary. All the Parties confirm that they understand and accept that is a lending platform that creates an opportunity for the Parties to enter into loan agreements and use crypto-assets (virtual value in the understanding of the applicable legislation) as collateral for the said agreements.
    11. The minimal amount of the Loan Collateral shall be calculated on the basis of the Loan-To-Value ratio (hereinafter LTV).
  3. User Identification and Confirmation of Transactions
    1. identifies the User according to the rules of the internal control system and AML policies of
    2. In order to identify the User sufficiently, may, at its sole discretion, at any time, upon getting in touch with the User, request additional documents or information confirming the User’s identity and unilaterally determine any additional requirements for the User identification, as well as introduce changes in the User identification process.
    3. The Present Agreement is considered to have come into force from the moment the User agrees to it and accepts him/her/it as a User by creating a corresponding User Account in the
    4. The Registration Application filed in compliance with procedures established in the Terms and Conditions confirms that the User wishes to use the Platform and the services offered therein pursuant to the Agreement provisions.
    5. While registering and logging into the User’s Account on the Platform, the User must enter his/her email address and password.
    6. The User’s activities performed on the Platform after entering the User’s email address and password shall be regarded as the User’s signature or acceptance. All payments, payment orders, instructions, applications, agreements, as well as other documents confirmed or submitted by the User on the Platform after entering the User’s email address and password as prescribed on the Platform shall be binding upon the User and
    7. The User’s password is deemed confidential information that the User and undertake not to disclose and shall undertake to prevent that third parties can find it out. The User must keep the User’s password in a secure manner, as well as regularly change/update the password as it is prescribed by
    8. If the User’s password has become known or may have become known to a third party, the User must immediately inform about it in writing. Once such information is provided, shall block access to the User’s Account as soon as possible. The User shall apply for a new password, then he shall give instruction to to unblock the User’s Account.
    9. Access to the User’s Account may be restricted if the User’s password is entered incorrectly 3 (three) times in a row.
    10. is entitled to, however, it is not obliged to, block access to the User’s Account in cases when suspects that the User’s Account has been accessed without due authorization, including but not limited to: if suspects that the User’s password has become known or may have become known to a third party or has suspicions of the execution of illegal transactions, as well as in other cases at the discretion of, in order to ensure the safety of services, inviolability, the confidentiality of the User or to prevent losses that might be inflicted upon or the Users.
    11. shall be entitled not to approve a transaction, if:
      1. the User fails to comply with the Terms and Conditions or the relevant Loan Agreement signed through the Platform;
      2. has suspicions about the identity of the User, and has not been able to contact the User to confirm the content of the transaction;
      3. the User’s instruction is unclear or corrupted due to the interruption in communication;
      4. in other cases, stipulated in Clause 3.10. herein.
  4. Currencies and Transfer of Funds
    1. The Platform selected ERC20 crypto-currencies to be used as collateral for the purpose of the loans given through the platform.
    2. The loans issued through the platform will be in (Loan Underlying):
      1. Ethereum
    3. The loans may be also issued in stablecoins (Loan Underlying):
      1. DAI
      2. USDC
      3. TUSD
    4. is entitled to make changes to the given list of stablecoins at any time in the future. The loans already active shall remain active despite any changes made to this list after the loan was already granted.
    5. The minimum loan amount that can be granted through the platform shall be equivalent of 25 USD
    6. shall not be liable for the inability to transfer funds due to force majeure circumstances, including unforeseeable and uncontrollable changes in the field of electronic payments or crypto-assets turnover, or relevant changes in the applicable legislation.
    7. shall be entitled to make deductions from the user interest payments in order to ensure that the User’s obligations arising from the Loan Agreements are performed, including the payment of commission fees and Loss Provision Fund fees
    8. If at the time of registering a User or during the period of validity of the Agreement, any suspicions arise about money laundering, terrorism financing, or any other illegal activities, shall be entitled to not register a User on the Platform, nor accept funds from the User and/or block access to the Platform.
  5. Entering into Loan Agreements
    1. Following the User’s identification, pursuant to the present Terms and Conditions, the User shall be entitled to enter into Loan Agreements listed as available on the Platform or by submitting a Loan Request by filling out the relevant form and following the instructions:
      1. Any Borrower wishing to enter a Loan Request must make an appropriate application through the platform, filling out the provided form and listing the required information, including:
        • Loan Amount;
        • The interest rate at which the loan may be given. The potential Lender acknowledges that the platform is entitled to regulate this loan parameter in accordance with its internal policies;
        • Loan Repayment Date;
        • Loan Request active till Date;
        • Additional optional parameters provided by the Loan agreement form;
        • Providing the necessary amount of crypto-assets as Loan Collateral
      2. The Lender shall, at his/her/its own discretion choose one or more Loan Requests that are offered on the Platform;
    2. If no Lender accepts a Borrower’s Loan Request, then the Loan Request is terminated and Loan Collateral is transferred back to the Borrower
    3. The User may, at any time, examine information on the User’s Account about all transactions performed by him on the Platform
  6. User’s Rights and Obligations
    1. The User shall undertake:
      1. not to use the Platform for illicit conduct, including but not limited to fraud and money laundering;
      2. upon registration on the Platform and when using the Platform, to provide only true information;
      3. to use only secure means and devices of electronic communications and data transfer;
      4. to promptly, however no later than within 3 (three) Business Days, to inform in writing, if the User’s name, surname, email address, account number or other information provided on the Platform changes;
      5. in communication with, exercise decency, and observe universal moral standards.
    2. By accepting the present Terms and Conditions, the User asserts that he/she/it is capable of making decisions on entering into Loan Agreements.
    3. The User is solely responsible if any third parties have obtained the User’s password and accessed the User’s Account due to the negligence of the User.
    4. Any User acting as a Borrower under a Loan agreement acknowledges that he shall not be able to borrow funds in the amount that exceeds LTV of the crypto-assets he/she/it has provided for the collateral purposes.
    5. The User shall be personally liable, shall free from any liability, and shall compensate for any costs, losses, and damages that may occur due to the specifics of the crypto-asset regulations of the User home jurisdiction.
    6. The User shall be personally liable for any tax obligations that may appear from his/her/its actions on the Platform and he/she/it shall not hold responsible for payment of any taxes that arise due to his/her/its actions.
  7. Borrower’s Default
    1. If Borrower is not paying Loan Amount, Loan Interest plus Service Fees (Borrower’s Obligation) till the Loan Repayment Date, then the Borrower will Default
    2. Defaulted Borrower’s Loan Collateral will be liquidated and sold into the Loan Underlying
    3. If the liquidation results are more than Borrower’s Obligation, then Borrower can claim back his remaining funds via
    4. If the liquidation results are less than Borrower’s Obligation, then  Borrower’s obligation to pay Remaining Amount will be transferred from Lender to the Loss Provision Fund
  8. Borrower’s Collateral Liquidation
    1. Any User acting as a Borrower is obligated to personally review the cryptocurrency exchange rates to maintain the collateral at the sufficient LTV and act accordingly should the collateral value drop below the required level.
    2. Should the collateral value drop below the limit set by, the platform may (but is not obligated to) notify the Borrower, who will be obligated to remedy the situation in accordance with the signed Loan Agreement.
    3. Should the Borrower fail to remedy the situation, is entitled to convert the Loan Collateral to Loan Underlying of the loan agreement, repaying the Loan Amount and Loan Interest, retaining its Service Fees and returning the remaining funds, if any, to the Borrower.
    4. If Borrower’s collateral liquidation results in more than Loan Amount plus Loan Interest plus Service Fees, then the Borrower can claim back his funds after the Loan Repayment Date
    5. If Borrower’s collateral liquidation does not cover the Loan Amount plus Loan Interest plus Service Fees, then the Borrower’s obligation to pay will be transferred from the Lender to the Loss Provision Fund. The Borrower’s loan remains open in the Remaining Amount. The interest continues to accumulate on the Remaining Amount until the Borrower will pay the Remaining Amount to the Loss Provisions Fund. In this case, the Borrower’s loan will be closed
  9. Loss Provision Fund
    1. Loss Provision Fund is currently managed by
    2. The Borrower shall pay to the Loss Provision Fund a Service Fee for every loan agreement
    3. If  Loan Collateral liquidation does not cover the  Loan Amount and Loan Interest, then Loss Provision Fund will pay the missing amount
    4. If the Borrower Defaults, then the Borrower’s obligation to pay the Remaining Amount will be transferred from the Lender to the Loss Provision Fund
    5. If  Loan Collateral liquidation does not cover the Loan Amount, Loan Interest and Service Fees, then the Borrower’s obligation to pay the Remaining Amount will be transferred from the Lender to the Loss Provision Fund
    6. If Borrower pay’s his Remaining Amount, then his loan will be closed
    7. Loss Provision Fund has the right to sell his claims against the Borrower’s to the Loan Liquidation companies
  10. Rights and Obligations
    1. shall maintain the Platform operation for the use by the registered Users and shall do all in its power to maintain the Platform stable.
    2. bears no obligations for any taxes that the User may be obligated to pay following his actions on the Platform.
  11. Loan Interest and Loan Amount
    1. The Borrower has to pay the Loan Amount and Loan Interest till the Loan Repayment Date. If this is not the case, then Borrower’s Default occurs.
  12. Lender
    1. Lender enters Loan Agreement with the Borrower by accepting Borrower’s Loan Request and transferring the Loan Underlying
    2. Every Loan Agreement will be tokenized and Lender will receive to his wallet address Credit-Coins, which represent the Loan Agreement
    3. The Lender can transfer Credit-Coins to the third parties, which can transfer them to the next parties (Loan Holders)
    4. Credit-Coins will be automatically dissolved at the Loan Repayment Date and will be replaced with the Loan Amount and Loan Interest pro rata
  13. Service Fees of the Platform
    1. The Borrower shall pay to a Service Fee for the services provided by
    2. The Borrower shall pay to the Loss Provision Fund a Service Fee for the loss provisions
    3. In case of Loan Collateral liquidation, may charge a conversion fee for the Loan Collateral liquidation
    4. In the case of Borrower’s Default, Loss Provision Fund may charge late payment fees
  14. Liability
    1. The User shall be held liable for all losses incurred as a result of unauthorized conduct if the User has acted illicitly or has intentionally (on purpose) or due to gross negligence failed to fulfill the requirements prescribed in these Terms and Conditions.
    2. The User shall assume liability for all losses, assumed commitments, or other activities carried out on the User’s Account until has been warned about situations stipulated in these Terms and Conditions and when has had a sufficient time to block access to the User’s Account.
    3. shall be fully released from any liability towards the User for any losses that the User has or might suffer as a result of using the Platform or entering into Loan agreements, including:
      1. if the User fails to uphold his/her/its obligations under the Loan agreement
      2. if the User has failed to observe the Agreement provisions
      3. as a result of the illicit conduct of third parties until the moment when the User’s Account is blocked pursuant to procedures established by the present Terms and Conditions
      4. due to interrupted communications and other interruptions or obstacles that are not dependent on
      5. if pursuant to the Terms and conditions, the User’s access to the User’s Account has been blocked
      6. due to the User infringing the Loan Agreement or the User’s illicit conduct
      7. due to the specifics of the legal regulation of the User’s home jurisdiction regarding crypto-assets turnover or taxation
  15. User’s Personal Data
    1. is entitled to process all User’s personal data received from the User in accordance with the Privacy Policy available for review at and the applicable legislation of Estonia. By entering into the present agreement, the User also accepts the provisions of the Privacy Policy.
    2. The purpose of processing the User’s personal data is keeping User records, offering, rendering and maintaining services, financial and statistical analysis, exercising, and protection of the rights of and/or User arising from the Agreement.
  16. Termination of the Agreement
    1. is entitled to restrict the User’s right to use the Platform and/or terminate the present Agreement and delete the User’s Account without a warning, if:
      1. the User breaches the present Terms and Conditions or the Loan Agreement or otherwise illicitly uses the Platform;
      2. the User has provided false or misleading information or counterfeit documents;
      3. if suspects money laundering, terrorism financing, or an attempt to do so, with the involvement of the User or the User’s Account.
    2. has the right to unilaterally terminate the Agreement at any time during the validity period of the Agreement, by sending a notice to the User’s email at least 10 (ten) Business Days in advance.
  17. Conduct in Case of Insolvency
    1. In case the becomes insolvent, the conclusion of new loan agreements on the Platform shall be immediately stopped.
    2. In case becomes insolvent, Users shall be given complete information from the database of the Platform about the transactions concluded on the Platform.
  18. Other Terms and Conditions
    1. All transactions on the Platform are executed in crypto-assets set in section  4.1, 4.2 and 4.3
    2. To develop and improve the services offered on the Platform, is entitled to introduce unilateral amendments to the present Terms and Conditions. shall publish a proposal for amendments of Terms and Conditions in the version of Terms and Conditions sent to the User’s indicated email on the Platform and shall send it to the User’s indicated email address. If the User continues to use the Platform such is considered as acceptance of the amended Terms and Conditions.
    3. is entitled to unilaterally amend the price of its Service Fees at any time, including to determine new commission fees and at the unilateral discretion of
    4. The Parties shall undertake not to divulge such information to any third parties, that derive the present Agreement, except as prescribed in the laws of the Republic of Estonia and in cases established in the Agreement.
    5. The laws and regulations of the Republic of Estonia shall govern the legal relations arising from the present Agreement.
    6. The present Terms and Conditions are binding until the moment when the User’s Account is deleted and all commitments of the User originating from Loan Agreements, have been fully met.
    7. The present Terms and Conditions are drawn up in English.