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Terms of Use

‍Last Updated: 1 December 2025

 

PLEASE READ THESE TERMS AND CONDITIONS CAREFULLY. By accessing or using Velto (the “Service”), you acknowledge that you have read, understand and agree to be bound by these Terms and Conditions (the “Terms”). These Terms constitute a legally binding agreement between you (also referred to as “User” or “you”) and Velto Technologies Ltd. (referred to as “Velto,” “we,” “us,” or “our”). If you do not agree to any part of these Terms, you must not use or access the Service.

 

1. Description of the Service

The Velto application is a non-custodial cryptocurrency application and interface (“app”) that allows you to interact with certain decentralized finance (“DeFi”) protocols and services. In simpler terms, The Velto app provides a user-friendly gateway for you to access third-party decentralized applications and protocols (for example, a decentralized exchange) directly from our app. Velto itself does not operate any blockchain protocol or exchange – it merely provides the interface for you to connect your own wallet and initiate transactions. All transactions are executed on external blockchain networks or smart contracts by those third-party decentralized applications and protocols and your own wallet. Velto is not a broker, exchange, custodian, or intermediary of your assets. We do not take possession of your digital assets at any time, and you retain control of your digital assets through your personal wallet.

 

2. Third-Party Protocol Integrations

The Velto app integrates with third-party DeFi protocols (such as decentralized exchanges, liquidity pools, or other smart contract-based services) to provide certain features within the app. These third-party protocols are not operated, maintained, or controlled by Velto, and we make no guarantees or representations regarding their functionality, security, availability, or performance. When you use the Velto app to interact with a protocol (for example, to execute a trade or loan), you acknowledge, agree and understand that:

  • The Velto app is only an interface: We provide the technical means for you to access and send instructions to the third-party protocol, but we are not a party to any transactions you execute on these protocols. The transactions you initiate via the Velto app are processed by the underlying protocol’s smart contracts and by your own blockchain wallet, not by Velto. For example, if you place a trade through Velto’s interface, that trade is executed by the decentralized exchange protocol (e.g. Orderly Network’s smart contracts), not by Velto.
  • No control or endorsement: Velto does not own, control or manage the third-party protocols you access. We do not endorse or guarantee any third-party service or decentralized application accessible through our interface. Any information, pricing, availability, or security of those services is outside our control. The inclusion of a protocol integration in the Velto app does not imply our recommendation or verification of that protocol’s reliability.
  • Use at your own risk: Your decision to interact with any third-party protocol via the Velto app is at your own risk. You acknowledge and agree that DeFi protocols carry inherent risks – including potential smart contract vulnerabilities, hacking risks, financial loss, or other malfunctions. Velto disclaims all responsibility and liability for any losses or harm you may incur due to your interaction with third-party protocols through our Service. This includes, without limitation, losses due to errors in the protocol, security breaches, hacks, bugs, instability, or insolvency of the protocol. You assume full responsibility for all outcomes of using any third-party DeFi service via the Velto app.
  • Third-party terms apply: When you access third-party protocols, you are also subject to any terms and conditions and privacy policies of those third-party services. For example, the protocol provider (such as Orderly Network) may have its own Terms of Use governing your transactions on that platform. It is your responsibility to review and comply with any such third-party terms. Velto is not responsible for any aspect of your compliance with third-party agreements or for any dispute or issue arising between you and a third-party service.

 

 

3. Use of Third-Party Interfaces and Tools

To deliver certain functionalities (such as an in-app trading experience), Velto may utilize third-party user interface components or “white-label” interfaces provided by external protocol developers. For example, Velto’s trading screen may be powered by Orderly’s white-label decentralized exchange frontend integrated into our application. Please note that even if the interface is presented within the Velto app, the underlying operations (like order matching or trade execution) are controlled, managed, operated and executed by the third-party provider, not by Velto.

 

Velto does not control, manage and/or operate the trading engine or blockchain network that underlies such integrated interfaces. We serve purely as a conduit for your instructions:

  • The interface is a gateway only – it allows you to view markets and request orders through third-party providers, but Velto does not execute or manage trades or match orders; the third-party protocol does that.
  • User responsibility: You are fully responsible for any actions you take through these interfaces. Double-check your transaction details (e.g. trade amounts, addresses, asset pairs) before confirming, as blockchain transactions are typically irreversible. Velto cannot undo or reverse any transaction you authorize on a third-party protocol.
  • No assumption of protocol risk: Any technology risk or failure associated with the integrated interface or underlying protocol is not assumed by Velto. If the third-party interface malfunctions or the protocol behaves unexpectedly, Velto will not be liable for errors or losses incurred. Similarly, latency, downtime, or technical issues on the third-party side may occur for which we bear no responsibility. The integrated interface and all third-party tools are provided “as is” for your convenience, without warranties of any kind (to the fullest extent permitted by law).

 

By using the third-party powered features in the Velto app, you acknowledge the above and agree that Velto is not responsible for the operation of any external interface or service accessed through our app. We welcome feedback on integrated tools, but ultimately those tools are governed by their own providers.

 

4. Fees and Revenue Transparency

Using the Velto app to interact with blockchain protocols may incur certain fees. These can include network transaction fees (e.g. blockchain gas costs) and protocol fees mandated by the third-party service (for example, a DEX trading fee charged by the protocol itself). Velto has no control over those fees set by the networks or protocols.

In addition, Velto reserves the right to charge a separate service fee or to add a markup on transactions facilitated through our interface. This would be a platform fee for the use of Velto’s services (for instance, for the convenience and interface we provide), and not a fee for brokerage, exchange, advisory, or custodial services – Velto is not acting as a broker or custodian of your assets. Any fee charged by Velto, if implemented, is purely for allowing access to and use of the Velto platform and its features. We are not taking commissions on trades as a broker, and we hold no user funds; all your assets remain in your control at all times.

Transparency of Fees: If Velto does implement its own fees or markups:

  • We will clearly disclose any Velto fee to you. Fee information will be presented in-app (for example, shown before you confirm a transaction or in a fee breakdown) or in accompanying materials so that you know what you are paying for our service. We aim for full transparency so there are no hidden charges.
  • For the avoidance of any doubt, Velto may combine its fee with the underlying protocol’s fee in the aggregate fee displayed to you for a given transaction where this is a requirement of that protocol. We will make it clear in the interface if this is the case. Velto’s portion of any such fee (howsoever described) is solely and exclusively an infrastructure fee that is charged by Velto in respect of your use of the Velto app. Velto is not a broker, exchange, custodian, or intermediary of your assets and payment of any fee (howsoever described) to Velto does not constitute Velto in any such capacity or otherwise designate Velto as a virtual assets service provider.  
  • No surprise changes: Velto will not begin charging new fees without notice. We will provide reasonable advance notice to users of any introduction or increase of Velto’s own fees. Notifications may be provided via in-app notifications, updates to these Terms, or other official communications. Any new or adjusted fees will apply only to transactions that occur after the effective date of the change; past transactions will not be subject to new or increased fees.
  • If at present Velto does not charge a fee, that does not waive our right to do so in the future. We include this provision to give us flexibility to support the platform. Rest assured, if and when we decide to implement a fee, it will be communicated and transparently applied as described.

 

By using theVelto app, you agree to pay any applicable fees. All third-party fees (like blockchain gas or protocol fees) are determined by those third parties and are also your responsibility to pay when you utilize their services. Velto does not collect those third-party fees for itself. Any Velto-specific fee, if charged, will be for the use of our Service as described, and we will not charge any additional fees without disclosing them to you in accordance with these Terms. All fees are non-refundable and irreversible once incurred.

 

5. Jurisdictional Restrictions

The Velto app is intended to be used only in compliance with all applicable laws and regulations. Persons in certain jurisdictions are strictly prohibited from using the Velto app, especially in alignment with the policies of the third-party protocols we integrate. By accessing or using the Service, you represent and warrant that you are not located in or a citizen/resident of any jurisdiction that is embargoed, sanctioned, or otherwise prohibited under applicable law from engaging in the activities provided by Velto or the integrated protocols. This includes (but is not limited to) the following restrictions:

  • No U.S. Persons: Velto’s services are not offered to any “U.S. Person”. For these purposes, a “U.S. Person” includes: (a) any U.S. citizen, U.S. lawful permanent resident, individual who meets the “substantial presence” test described in section 7701(b)(3) of the U.S. Internal Revenue Code of 1986 (as amended), protected individual under section 1324b(a)(3) of the U.S. Immigration and Nationality Act, or individual who holds a passport issued by the United States Government (together, a “U.S. Citizen or U.S. Resident”), (b) a corporation, partnership, or other entity established or organised in or under the laws of the United States, (c) any estate: (i) of a decedent who was a U.S. Citizen or U.S. Resident at the time of death, (ii) of which any executor or administrator is a U.S. Person (unless this executor or administrator is a professional fiduciary and shares with a non-U.S. Person investment discretion with respect to the assets of an estate that is governed by non-U.S. law), (iii) which is administered under the laws of the United States, and (iv) with assets located in the United States, (d) any trust if: (i) a court within the United States is able to exercise primary supervision over the administration of the trust, and (ii) one or more U.S. Persons have the authority to control all substantial decisions of the trust, (e) any Person organised or incorporated outside the United States and the Territory or Insular Possession of the United States in which any of the foregoing, whether singularly or in the aggregate, directly or indirectly: (i) holds a fifty (50) percent or greater equity interest by votes or value, (ii) holds a majority of seats or memberships on the board of directors of the entity, or (iii) authorises, establishes, directs, or otherwise controls the actions, policies, personnel decisions, or day-to-day operations of the person, or (f) any pension plan for the employees, officers or principals of a legal entity described in paragraph (b) above, unless the pension plan is primarily for foreign employees of such entity. For the purposes of these Terms, “Territory or Insular Possession of the United States” shall include the Commonwealth of Puerto Rico, the U.S. Virgin Islands, Guam, the Commonwealth of the Northern Mariana Islands, and all other territories and possessions of the United States.. If you are a U.S. Person, you are not permitted to use the Velto app. You agree not to access or use the Service from within the United States or using any U.S. IP address or infrastructure.
  • Sanctioned countries and persons: You may not use the Velto app if you are a resident of, or a Government or Government Official of, or any Person in, any Prohibited Jurisdiction, or a Sanctioned Person (together, a “Restricted Person”). For these purposes:

“AML” means anti-money laundering, including, all laws prohibiting money laundering or any acts or attempted acts to: (i) conceal or disguise the identity or origin of, (ii) change the form of, or (iii) move, transfer, or transport, in each case illicit proceeds, property, funds, fiat, or digital tokens, including the promotion of any unlawful activity such as fraud, tax evasion, embezzlement, insider trading, financial crime, bribery, cyber theft or hack, narcotics trafficking, weapons proliferation, terrorism, or Economic Sanctions violations, which may also require internal controls to detect, prevent, report, and maintain records of suspected money laundering, proliferation financing, or terrorist financing.

“Economic Sanctions” means financial sanctions, trade embargoes, export or import controls, anti-boycott, and restrictive trade measures enacted, administered, enforced, or penalised by any applicable laws.

“FinCEN” means the Financial Crimes Enforcement Network of the U.S. Department of the Treasury.

“Government” means any national, federal, state, municipal, local, or foreign branch of government, including any department, agency, subdivision, bureau, commission, court, tribunal, arbitral body, or other governmental, government appointed, or quasi-governmental authority or component exercising executive, legislative, juridical, regulatory, or administrative powers, authority, or functions of or pertaining to a government instrumentality, including any parasternal company, or state-owned (majority or greater) or controlled business enterprise.

”Government Official” means an officer or employee of any Government, a director, officer, or employee of any instrumentality of any Government, a candidate for public office, a political party or political party official, an officer or employee of a public international organisation, and any Person who is acting in an official capacity for any of the foregoing, even if such Person is acting in that capacity temporarily and without compensation.

“Person” includes an individual, association, partnership, corporation, company, other body corporate, trust, estate, and any form of organisation, group, or entity (whether or not having separate legal personality).

“Prohibited Jurisdiction” means Afghanistan, Belarus, Congo, Cuba, the Democratic Republic of Congo (D.R.C.), the Democratic People’s Republic of Korea (North Korea), Iran, Myanmar, South Sudan, Sudan, Syria, the Russian Federation, Crimea (a region of Ukraine annexed by the Russian Federation), the self-proclaimed Donetsk People’s Republic (a region of Ukraine), the self-proclaimed Luhansk People’s Republic (a region of Ukraine), Kherson (a region of Ukraine), Zaporizhzhia (a region of Ukraine) and any other country, region or other territory subject to a general export, import, financial or investment embargo under any trade, economic or financial sanctions or trade embargoes or related restrictive measures imposed, administered or enforced from time to time by any Sanctions Authority.

“Sanctioned Person” refers to any Person (including any wallet and wallet address of such person) that is: (i) specifically listed in any Sanctions List, (ii) directly or indirectly owned fifty (50) percent or more by any Person or group of Persons in the aggregate, or a wallet and wallet address associated with such Person or Persons, referred to in any Sanctions List, a Government or Government Official of any Prohibited Jurisdiction, or (iii) otherwise sanctioned, restricted, or penalised under applicable Economic Sanctions, AML laws, counter-proliferation financing laws, or counter-terrorist financing laws.

“Sanctions Authority” means: (i) the United States, (ii) the United Nations Security Council, (iii) the European Union, (iv) any European member state; (v) the United Kingdom, (vi) the British Virgin Islands, or (vii) the respective governmental institutions and agencies of any of the foregoing including, without limitation, the Office of Financial Sanctions Implementation of His Majesty’s Treasury, the Office of Foreign Assets Control of the U.S. Department of the Treasury, the U.S. Department of Commerce, the U.S. Department of State and any other agency of the U.S. Government.

“Sanctions List” means: (i) the “Specially Designated Nationals and Blocked Persons (“SDN”) List and the Non-SDN List, including the “Sectoral Sanctions Identifications List”, published by OFAC, (ii) the Section 311 Special Measures for Jurisdictions, Financial Institutions, or International Transactions of Primary Money Laundering Concern published by FinCEN, or (iii) under Economic Sanctions, AML laws, counter-proliferation financing laws, or counter-terrorist financing laws of or by the Governments of the United States, the British Virgin Islands (including any sanctioned, restricted, or debarred party list under the laws of the United Kingdom and applicable in the British Virgin Islands), the United Nations, the European Union, any European member state, or any other jurisdiction or Government, as applicable to you.

  • If you are such a “Restricted Person”, you are strictly prohibited from using the Service. You also agree not to use any means (such as VPNs, proxies, or other methods) to circumvent these restrictions and access the Velto app from a Prohibited Jurisdiction.

 

Please be aware that the third-party DeFi protocols accessible through the Velto app may have their own geographic or jurisdictional restrictions as well. For example, the protocol might independently block or disallow users from certain regions or of certain nationalities, beyond what Velto itself enforces. Velto is not responsible for any geo-blocking measures employed by third-party protocols, nor are we liable if you are prevented from using a protocol (or if you circumvent a protocol’s restrictions) due to your location, residency or citizenship. You are solely responsible for complying with all laws and regulations applicable to you. If using the Velto app (or any integrated protocol) would violate the laws of any jurisdiction, you must refrain from using the Service.

 

Velto may implement controls to block access from Prohibited Jurisdictions, and we reserve the right to refuse or discontinue service to U.S. Persons and Restricted Persons. If we discover that you are using the Velto app in violation of these restrictions, we may terminate your access in accordance with these Terms. You agree that Velto is not liable for any losses, damages, or legal consequences that result from your violation of these restrictions or from the protocol’s enforcement (or failure to enforce) their own jurisdictional policies and procedures.

 

6. Prohibited Activities

You may not use the Service to engage in the categories of activity set forth below (“Prohibited Uses” and each a “Prohibited Use”). The specific activities set forth below are representative, but not exhaustive, of Prohibited Uses. If you are uncertain as to whether your use of the Service involves a Prohibited Use or have any other questions about how these requirements apply to you, then please contact us at [Contact Email] or through [Support interface within app/website]. By using the Service, you confirm that you will not engage in any of the following Prohibited Uses:

  • use the Service in order to disguise the origin, ownership, control or nature of illicit proceeds of, or to further, any breach of applicable laws, or to transact or deal in any contraband;
  • use the Service if any applicable laws, including AML laws, counter-proliferation financing laws, counter-terrorism laws, all laws applicable to prohibiting corruption or bribery of Government Officials, kickbacks, inducements, and other related forms of commercial corruption or bribery, and Economic Sanctions Laws, prohibit, penalise, sanction, or expose Velto to liability for the Service furnished or offered to you under these Terms;
  • use the Service to facilitate, approve, evade, avoid, violate, attempt to violate, aid or abet the violation of, or circumvent any applicable laws, including AML Laws, counter-proliferation financing laws, counter-terrorism laws, all laws applicable to prohibiting corruption or bribery of Government Officials, kickbacks, inducements, and other related forms of commercial corruption or bribery, and Economic Sanctions Laws;
  • use the Service to evade taxes under the laws of any applicable jurisdiction;
  • use the Service with anything other than funds, a digital tokens address, digital wallet, keys, property or digital assets that have been legally obtained by you and that belong to you;
  • use the Service to interfere with or subvert the rights or obligations of Velto, any other user of the Service or any other Person;
  • present misleading or inaccurate information to the Service or take advantage of any technical glitch, malfunction, failure, delay, default, or security breach;
  • use the Service to engage in conduct that is detrimental to Velto, any other user of the Service or any other Person;
  • falsify any account, registration, exchange or administration details provided to Velto, impersonate another Person or misrepresent your affiliation with a Person;
  • falsify or materially omit any information or provide misleading or inaccurate information requested by Velto, including at registration or during the course of administering the Service to you;
  • cause injury to, or attempt to harm, Velto or any Person through your access of the Service;  
  • have more than one Service account;
  • where you are subject to prohibitions or restrictions as set forth in in section 5 of these Terms, access the Service utilizing any virtual private network, proxy service, or any other third party service, network, or product with the effect of disguising your IP address or location, or access or use the Service from, or being subject to, the jurisdiction of any Prohibited Jurisdiction;
  • utilise the Service for the financial or other benefit of a Prohibited Person; and
  • violate, promote, or cause a violation of, or conspire or attempt to violate these Terms or applicable laws.

 

7. Your Representations and Warranties

You represent and warrant to Velto on the date of your acceptance of these Terms and each day on which you utilize or access the Service, in each case with reference to the facts and circumstances existing at such date, as follows:

  • that, if you are an individual user, you are eighteen (18) years of age, and have the capacity to contract under applicable laws;
  • that, if you are registering to use or using the Service on behalf of a legal entity: (i) such legal entity is duly organized, validly existing and in good standing under the applicable laws of the jurisdiction of its organization or incorporation (as applicable), (ii) you, and any individuals utilizing the Service on behalf of the legal entity, are duly authorized by such legal entity to act on its behalf, (iii) you have all requisite power and authority to carry on your business as now conducted, and (iv) you are duly qualified to transact business in each jurisdiction in which the failure to so qualify would have a material adverse effect on your business, financial condition, properties, operations, assets or your ability to perform your obligations under these Terms;
  • that you understand the risks associated with using the Service, that you are not prohibited or restricted from accessing the Service pursuant to these Terms, and that you are not otherwise prohibited by applicable laws from using, or acting for the benefit of another Person that is prohibited or restricted from using, the Service, and that you have had the opportunity to seek legal, accounting, taxation and other professional advice regarding these Terms and the Service;
  • that you will not use the Service in order to conceal or disguise the origin, ownership, control, or nature of proceeds of crime, proliferation financing, terrorist financing or corruption related to any Person or Government Official under any applicable laws, or property subject to Economic Sanctions, frozen assets, or to further any breach of applicable laws, including AML Laws, counter-proliferation financing laws or counter-terrorism financing laws, or to deal in any unlawful digital assets, fiat, property, funds or proceeds;
  • that you will not use the Service with anything other than fiat, funds or digital assets that have been legally obtained by you, that belong to you, and that are free and clear of all liens, claims, and encumbrances;
  • that you are currently in compliance with all laws that relate to or affect the Service under these Terms, including AML laws, counter-proliferation financing laws, counter-terrorism financing laws, all laws prohibiting bribery or corruption of Government Officials, kickbacks, inducements, and other related forms of commercial corruption or bribery, including all national and international laws enacted to implement the OECD Convention on Combating Bribery of Foreign Officials in International Business Transactions, Economic Sanctions Laws, tax information exchange laws (including CRS and FATCA) or other tax laws;  
  • that you do not use any digital assets, fiat, property, proceeds or funds subject to the Service directly or indirectly: (i) on behalf of or for the benefit of a Restricted Person or any Person subject to the jurisdiction of a Prohibited Jurisdiction, (ii) in violation of or as prohibited, restricted, or penalised under applicable Economic Sanctions Laws, or (iii) in any way that would violate, be inconsistent with, penalised under, or cause the omission of filing of any report required under applicable AML Laws, counter-proliferation financing laws, counter-terrorism financing laws, or Economic Sanctions Laws;
  • that you have not: (i) violated, (ii) been fined, debarred, sanctioned, the subject of Economic Sanctions-related restrictions, or otherwise penalised under, (iii) received any oral or written notice from any Government concerning actual or possible violation by you under, or (iv) received any other report that you are the subject or target of sanctions, restrictions, penalties, or enforcement action or investigation under, in each case any applicable laws, including AML laws, counter-proliferation financing laws, counter-terrorism financing laws, all laws prohibiting bribery or corruption of Government Officials, kickbacks, inducements, and other related forms of commercial corruption or bribery, including all national and international laws enacted to implement the OECD Convention on Combating Bribery of Foreign Officials in International Business Transactions, or Economic Sanctions Laws;
  • that you are not: (i) owned (beneficially or of record) or controlled by a Sanctioned Person, (ii) involved in any transaction, transfer, or conduct, whether or not by using the Service, that is likely to result in you or your affiliates’ shareholders, directors, officers, employees, agents, or partners becoming a Sanctioned Person, (iii) residing or domiciled in, or transferring digital assets, fiat, funds, or property to, from, or through any wallet, digital tokens address or engaging in any transaction from a Prohibited Jurisdiction, (iv) a Government or Government Official of a Prohibited Jurisdiction, or (v) otherwise a Prohibited Person;
  • that you and your shareholders, directors, officers, employees, agents, and/or partners has not directly or indirectly offered, promised, given, or authorised any payment, or offered, promised, given, or authorised the giving of anything else of value, including any digital assets or fiat, to a Government Official or individual employed by another entity in the private sector in violation of any applicable laws prohibiting bribery or corruption of Government Officials, kickbacks, inducements, and other related forms of commercial corruption or bribery, including all national and international laws enacted to implement the OECD Convention on Combating Bribery of Foreign Officials in International Business Transactions;
  • that you will not falsify any registration or administration details for the Service;
  • that you will not falsify or materially omit any information or provide misleading or inaccurate information requested by Velto in the course of, directly or indirectly relating to, or arising from your use of the Service, including at registration or during administration or other due diligence processes, and that if any information provided to Velto becomes incorrect or outdated, you will promptly provide corrected information to Velto or as it may otherwise direct;
  • that you shall employ reasonable anti-virus, anti-malware and other software and techniques to protect you from being the victim of a hack or of other malicious actions, so as to protect the integrity of your wallets and to keep such wallets and the access to your Velto account out of the reach of other Persons;
  • that you shall not introduce or transmit any virus to Velto;
  • that you acknowledge and agree that any instructions received or undertaken through the Velto app with your login credentials or from your authorised e-mail address on file with Velto are deemed to be valid, binding, and conclusive regardless of whether there is any error resulting from an instruction made by you or on your behalf, any error resulting, directly or indirectly, from fraud or the duplication of any instruction made by you or on your behalf or the malfunction of any device or compromise of credentials used by you to deliver instructions, and that Velto may act upon those instructions without any liability or responsibility attaching to it;
  • that you are not subject to a User Insolvency Event, and have no reason to believe that you will be subject to a User Insolvency Event in the following six (6) months;
  • that you have complied in full with any applicable third-party terms and conditions, policies, procedures and notices where applicable, including where you access third-party protocols through the Velto app; and
  • that you will accurately and promptly inform Velto or any Person specified on its behalf if you know or have reason to believe that any of the foregoing representations or warranties is no longer correct or becomes incorrect.

For these purposes, a “User Insolvency Event” means if you are subject to any of the following insolvency events: (i) you stop or suspend payment of any of your debts or are unable to, or admit your inability to, pay your debts as they fall due, (ii) you commence negotiations, or enter into any composition, compromise, assignment or arrangement, with one or more of your creditors with a view to rescheduling any of your indebtedness (because of actual or anticipated financial difficulties), (iii) a moratorium is declared in respect of any of your indebtedness, (iv) any action, proceedings, procedure or step is taken in relation to: (a) a composition, compromise, assignment or arrangement with any of your creditors; or (b) the appointment of a liquidator, receiver, administrative receiver, administrator, compulsory manager or other similar officer in respect of you or any of your assets, (v) the value of your assets is less than your liabilities (taking into account contingent and prospective liabilities), or (vi) any event occurs in relation to you that is analogous to those set out in paragraphs (i) to (v) (inclusive) above in any jurisdiction.

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8. Intellectual Property and Licensing

Unless otherwise indicated, the Velto app (including all content, software, and technology provided through the Service, and the “Velto” name and logos) is the exclusive property of Velto or its licensors, and is protected by copyright, trademark, and other intellectual property laws. We grant you a limited, personal, revocable, non-exclusive, non-transferable, non-sublicensable license to use the Velto app for its intended purposes under and subject to these Terms. This license does not grant you any ownership of, or title in, our intellectual property, and you may not reproduce, distribute, modify, or create derivative works from our content without our prior written consent.

 

Third-Party and Open-Source Components: The Velto app is built upon a modern tech stack that may incorporate third-party software libraries, including open-source software from our integrated protocol providers or other developers. Our Service includes certain third-party components (including open-source software), which are utilized under their respective license terms. For example, we may utilize SDKs or UI toolkits provided by our protocol partners, or other open-source libraries, within the Velto app. We respect all third-party intellectual property rights and license requirements for these components. A list of any third-party or open-source components and their licenses may be provided in a “Legal Notices” or “About” section of our app or website (or made available upon request), in accordance with those license obligations.

 

By using the Velto app, you agree to comply with the relevant open-source licenses for any open-source components included in our Service. These license terms may include important permissions and restrictions, as well as disclaimers of warranty or liability by the original authors. To the extent those third-party license terms require us to provide source code or other information, we will do so in the manner prescribed (for example, linking to a source repository if required). Nothing in these Terms limits your rights under any open-source licenses and similarly, nothing in those open-source licenses shall override or negate our protections and disclaimers under these Terms with respect to our own liability.

 

If you have questions about any particular component or suspect an IP violation, please contact us at support@velto.com. We will address any IP issues promptly, including honoring DMCA takedown notices or open-source license requirements as applicable.

 

9. Disclaimers of Warranties and Risk

Use at Your Own Risk: The Service (including the app, any content, and all integrated third-party features) is provided on an “as is” and “as available” basis. Your use of the Velto app is entirely at your own risk. To the fullest extent permitted by law, we and our affiliates and service providers disclaim all warranties of any kind, whether express, implied, or statutory, regarding the Service. This includes, but is not limited to, implied warranties of merchantability, fitness for a particular purpose, title, and non-infringement. We do not warrant that the Service will meet your requirements, be uninterrupted, secure, or error-free, or that any defects will be corrected.

 

When it comes to third-party content and protocols accessed through the Velto app, we make no warranty or representation about the accuracy, reliability, or completeness of any information or services provided by third parties. For example, the Velto app may display token prices, market data, or other content sourced from third parties – we do not guarantee that such data is correct or up-to-date. You should independently verify information before relying on it for decisions. Any advertisements, offers, or other information presented by third parties via our Service are not endorsed or verified by Velto, and we are not responsible for them.

 

No Financial or Other Advice: The Velto app is a technology platform, not an investment advisor or broker. Nothing in our app or in these Terms constitutes legal, financial, portfolio management, accounting, tax or investment advice, or advice on trading techniques, models, algorithms, or any other schemes. We may provide informational tools (like price charts or educational content), but these are for convenience and do not constitute recommendations or advice. You are solely responsible for your investment and trading decisions and should not take, or refrain from taking, any action based on any information contained on our app or elsewhere or any other information that we make available at any time. If you need advice, you should seek a qualified professional. These Terms are not intended to, and do not, create or impose any fiduciary duties on us.

 

Blockchain Risks: By using the Velto app, you acknowledge the inherent risks associated with blockchain and DeFi activities. These include, without limitation: price volatility of digital assets; the irreversibility of transactions (if you send assets to the wrong address or an incorrect transaction, it may be permanent); smart contract bugs or exploits; sudden changes in applicable laws or regulations; technology failures; and market risks. Velto has no control over these factors. We are not liable for any losses arising from such risks, including losses due to market conditions, technical issues on underlying networks, or regulatory actions.

 

No Guarantee of Continuous Access: The Velto app may experience downtime, maintenance, or technical difficulties from time to time. We do not guarantee that the Service (or any specific feature or third-party integration) will be available continuously or at any particular time. Scheduled maintenance or unforeseen outages may occur. We will strive to inform users of major outages or maintenance windows, but we are not liable for any inconvenience or losses caused by Service unavailability, delays, or errors.

 

Regulatory Status: Velto has not been approved or disapproved by the British Virgin Islands Government, the British Virgin Islands Financial Services Commission or any other governmental agency in the British Virgin Islands or any other governmental agency or exchange of any other jurisdiction. Velto is not and does not have to be subject to supervision by the BVI Financial Services Commission or any regulator outside the British Virgin Islands as a virtual assets service provider or otherwise. Any representation to the contrary is unlawful.

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10. Limitation of Liability

To the maximum extent permitted by law, Velto (and its officers, directors, employees, affiliates, agents, and shareholders) shall not be liable for any indirect, incidental, special, consequential, punitive, exemplary, or similar damages or liabilities whatsoever, including damages for any loss of information, profits, revenue, data, or business opportunities, arising out of or related to your use of (or inability to use) the Velto app or any third-party services accessed through the Velto app, whether under contract, tort, statute, strict liability, or otherwise. This is true even if we have been advised of the possibility of such damages.

 

Velto’s total cumulative liability to you for any direct damages or claims arising from your use of the Service will be limited to the greater of: (a) the total fees (if any) you have paid to Velto for use of the Service in the 3 months immediately preceding the event giving rise to the claim, or (b) US $100 (or equivalent). This limitation applies regardless of the legal theory of liability (contract, tort, statute, strict liability, or otherwise). Some jurisdictions do not allow certain liability limitations; in such cases, parts of this section may not apply to you, but the provisions will apply to the fullest extent permitted by applicable law.

 

Importantly, Velto is not liable for any damage or loss that is not reasonably foreseeable or that is outside of our control. The Service involves complex interactions with decentralized networks and third-party systems and we cannot be responsible for failures that lie with those external networks and systems (for example, a blockchain outage or a hack of a DeFi protocol).

 

Nothing in these Terms shall operate to limit liability that cannot be excluded or limited under applicable law, such as liability for fraud or personal injury caused by negligence, to the extent that applicable law mandates such liability.

 

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11. Indemnification

You agree to indemnify, defend, and hold harmless Velto and its affiliates, officers, directors, employees, shareholders, and agents from and against any and all claims, losses, liabilities, damages, judgments, awards, fees, and costs (including reasonable attorneys’ fees) including any incidental, direct, indirect, general, special, punitive, exemplary, or consequential damages, loss of goodwill or business profits, work stoppage, data loss, computer failure or malfunction, or any and all other commercial losses arising out of or related to: (a) your violation of these Terms (including any breach of your representations and warranties), the terms and conditions of any third-party services by which you are bound through these Terms, or any applicable law or regulation; (b) your misuse of the Service or use of any third-party services via the Velto app; (c) your infringement or misappropriation of any intellectual property or other rights of any person or entity; or (d) any dispute between you and a third party (such as a protocol provider or another user) in connection with your use of the Velto app. We reserve the right, at our own expense, to assume the exclusive defense and control of any matter otherwise subject to indemnification by you (without limiting your indemnification obligations with respect to that matter), and in such case, you agree to cooperate with our defense of such claim in good faith.

 

12. Changes to these Terms

Velto may update or modify these Terms from time to time in writing. When we make changes, we will update the “Last Updated” date at the beginning of the Terms and, if the changes are material, provide notice through the Service or via other communications. It is your responsibility to review these Terms periodically for any updates. Continued use of the Velto app after updated Terms have been posted constitutes your acceptance and agreement of the revised Terms. If you do not agree with any amendment to the Terms, you must immediately stop using the Service.

 

13. Termination

We reserve the right to suspend or terminate your access to the Velto app at any time, with or without cause or notice, including (but not limited to) if we believe, in our sole and absolute discretion, that you have violated these Terms, are a U.S. Person or a Restricted Person, are engaging in any Prohibited Use, or are otherwise engaging in other illegal or improper use of the Service. Upon termination, your right to use the Service will cease. The provisions of these Terms which by their nature should survive termination (such as intellectual property rights, disclaimers, limitation of liability, indemnity, and dispute resolution) shall survive.

 

You may discontinue use of the Velto app at any time. If you wish to delete your account or stop using the app, you may do so. Note that terminating use of the Velto app will not reverse or undo any blockchain transactions you have executed already.

 

14. Miscellaneous

Governing Law: These Terms and any dispute or claim arising out of or in connection with it or its subject matter or formation (including non-contractual disputes or claims) shall be governed by and construed in accordance with the laws of the British Virgin Islands. Any dispute, controversy, difference or claim arising out of, relating to, or in connection with these Terms, including its existence, validity, interpretation, performance, breach or termination, or any dispute regarding non-contractual obligations arising out of or relating to it, shall be referred to and finally resolved by arbitration under the rules of the BVI International Arbitration Centre (BVI IAC). The seat of arbitration shall be the BVI. The language of the arbitration shall be English. The arbitral award shall be final and binding.

 

No Waiver: Our failure to enforce any right or provision of these Terms shall not be deemed a waiver of such right or provision.

 

Severability: If any provision of these Terms is held to be invalid or unenforceable, that provision will be enforced to the maximum extent permissible and the remaining provisions of the Terms will remain in full force and effect.

 

Entire Agreement: These Terms (along with any additional guidelines, policies, procedures, or notices we provide) constitute the entire agreement between you and Velto regarding your use of the Service, and supersede any prior or contemporaneous agreements on the subject matter.

 

Contact Information: If you have any questions or concerns about these Terms or Velto’s services, you may contact us at support@velto.com.

By using the Velto app, you acknowledge that you have read, understood, and agree to all the above terms. Thank you for choosing Velto, and please use the Service responsibly and in accordance with the law.

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15. Referral Program‍

‍15.1 Velto may from time to time offer a referral program (the “Referral Program”) which allows users to generate or use referral codes and potentially receive referral rebates or other promotional benefits.

‍15.2 If you choose to participate in the Referral Program in any capacity (including as a referrer or a referee, or by generating, sharing, binding, or using a referral code), you acknowledge and agree that:

  • (a) your participation is subject to the Velto Referral Program Terms available at https://www.velto.com/policies/referral (as updated from time to time);
  • (b) the Velto Referral Program Terms are incorporated by reference into and form part of these Terms; and
  • (c) in the event of any conflict between these Terms and the Velto Referral Program Terms in relation to the Referral Program, the Velto Referral Program Terms shall prevail to the extent of such conflict.

‍15.3 Participation in the Referral Program is entirely optional. If you do not agree to the Velto Referral Program Terms, you must not generate or use any referral code or otherwise participate in the Referral Program.

 

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