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Terms of Service

These terms of service ("Terms") constitute a binding agreement and apply to your ("You" or "User") usage of www.vesu.xyz ("Site") offered by Motion Labs AG ("Motion Labs"), a software development studio. The Site provides information and access to Vesu, a fully open and permissionless lending protocol allowing anyone to deploy and interact with lending pools for crypto assets (together with any related technology the "Protocol").

The Protocol is not offered, controlled, or operated by Motion Labs, and these Terms do not govern Your use of the Protocol, which You do so entirely at Your own risk. Please refer to the Protocol Disclaimer below.

Scope of Services

Motion Labs's services offered through the Site are limited to the following ("Services"):

  • - Informational content: The Site provides informational content and documentation regarding the functionalities and potential use cases of the Protocol.
  • You understand and acknowledge that any content, including any references to the Protocol and its functionalities (e.g., APYs on pools in the Protocol) or accompanying documentation published on the Site is of purely informational nature. In particular, none of the content of the Site is to be understood of professional or non-professional advice, including but not limited to financial, investment, legal, or tax advice by Motion Labs or any third party. Furthermore, such content should not be construed as an offer or recommendation for lending, borrowing, or otherwise dealing in crypto assets.
  • - Facilitated Protocol access: The Site allows facilitated interaction with the various smart contracts that constitute the Protocol. You understand and acknowledge that:
  • - The Site acts merely as an off-chain interface, whereby the functionalities are limited to visualizing and displaying information obtained from the Protocol (or from other sources) and proposing interactions based entirely on the User's own input. Users interact by connecting a compatible address (using third party software) and, using their own private keys, signing interactions visualized by the interface.
  • - The Protocol is entirely separate from the interaction offered via the Site, and as the Site is an off-chain component, remains unaffected and is not in any way dependent on the Site. By controlling the Site, Motion Labs does not exercise control over the Protocol.
  • - Your use of the Site to interact with the Protocol is without any sort of remuneration, fee, or other form of compensation to Motion Labs. Motion Labs does not intend to construe or enter into any sort of (permanent) business relationship with You relating to Your use of the Site.
  • - Your use of the Site to interact with the Protocol is entirely optional, and You are entirely free to access the Protocol in any other way such as using any third party interface.

These Terms and Your use of the Services are not intended to create any fiduciary duties between Motion Labs and You or any third party. Motion Labs never takes possession, custody, control, or ownership of any crypto assets or other property transmitted by You. Motion Labs is not a provider of financial services, and specifically does not grant loans or offer any sort of payment, trading, asset management, or similar services.

Use of Services

Eligibility

By using the Services, You agree to be bound by these Terms and confirm that You meet the following eligibility requirements:

  • - You are of legal age in Your jurisdiction, but at least eighteen years old;
  • - You have full authority to enter into these Terms on behalf of Yourself or the entity or organization that You are acting on behalf of;
  • - You do not use the Services for any Prohibited Use;
  • - You are not subject to a Prohibited Jurisdiction;

    • Prohibited Use

    You may access or use the Services only for lawful purposes and in accordance with these Terms. You specifically agree to not use the Services:

  • - In any way that violates, or could (assist in) violate (violating), any applicable domestic, foreign, or international law, statute, ordinance, or regulation, or any sanctions programs administered in any relevant country or in any way which would involve proceeds of any unlawful activity (this includes, but is not limited to, money laundering, terrorist financing, breach of sanctions laws, fraud, theft, or any other conduct that causes damage to any person or property);
  • - To impersonate or attempt to impersonate Motion Labs, a specific individual Vesu project contributor, another user, or any other person or entity.
  • - To cause the Services, or Protocol, to work other than as intended.
  • - To take any action that may be reasonably construed as fraud, deceit, or manipulation.
  • - To damage the reputation of Motion Labs, any specific individual Vesu project contributor, or the Protocol.

Additionally, You agree not to:

  • - Circumnavigate, by any means, any restriction implemented to prohibit impermissible access to persons subject to any Prohibited Jurisdiction.
  • - Give the wrong impression that any services, offerings, or functionalities other than the Services are offered, provided, or otherwise endorsed by Motion Labs.
  • - Use the Services to manipulate or defraud the Protocol, any blockchain network, technology, protocol, or the users thereof.
  • - Promote any illegal activity, or advocate, promote, or assist any unlawful act.
  • - Use the Site in any manner or with the use of any tool, device, or software that could disable, overburden, damage, impair, or interfere with any other person's use of the Site.
  • - Introduce any viruses, trojan horses, worms, logic bombs, or other material that is malicious or technologically harmful to the Site, the Services, the participants, any underlying blockchain, or any of the Service's related utilities or functionalities.
  • - Copy or change any portion of the Site.
  • - Give, sell, or otherwise make available any portion of the Site;
  • - Look for or access the code of any portion of the Site that we have not expressly published for general use.
  • - Otherwise interfere with or attempt to interfere with the proper working of the Site or the Services in any way.

Prohibited Jurisdictions

The access and use of the Services is strictly prohibited for users who reside in, are located in, are a citizen of, are incorporated in, have registered office in, or are in any other way subject to (i) the jurisdiction of the UNITED STATES OF AMERICA, (ii) the jurisdiction of a country or territory (together, "Sanctioned Countries") that is currently the subject of any sanctions or trade embargos administered or imposed by (1) Switzerland, (2) the country of residence or incorporation/registered office of the user, (3) another authority issuing economic sanctions or trade embargos whereby such other authority has jurisdiction over the user or his/her/its assets, (iii) a jurisdiction identified by the Financial Action Task Force ("FATF") for strategic AML/CFT deficiencies and included in FATF's listing High-Risk Jurisdictions, (v) a jurisdiction (including, but not limited to, the Sanctioned Countries) in which the use of the Services is prohibited, restricted or unauthorised in any form or manner whether in full or in part under the laws, regulatory requirements or rules in such jurisdiction ((i) to (v) together the "Prohibited Jurisdictions").

Proprietary Rights

All rights, titles, and interests to its own intellectual property, including all copyrights, inventions, trademarks, designs, domain names, know-how, trade secrets, data, and other intangible property rights remain vested with Motion Labs. Notwithstanding the above, You understand and acknowledge that certain aspects or parts of the Services and/or the Protocol may be published under an open-source license or may use, incorporate, contain, or link to components under an open-source license. In such case, Your use of the Services is subject to, and You will comply, with, any such applicable open-source license(s). For details of the Protocol licence terms, see protocol licence.

Privacy

Privacy Policy

General Disclaimer

Motion Labs makes no and expressly disclaims all representations and warranties, express or implied, with respect to the Site and the Services. Motion Labs specifically disclaims all representations or warranties with respect of title, non infringement, merchantability, usage, security, suitability or fitness for a specific purpose, or as to the absence of any errors or defects in the Site and/or the Services. The Site and the Services are provided on an "as is" and "as available" basis, and the Services and any information provided on the Site may be inaccurate, incomplete, not up-to-date, or may contain errors. Access to the Site and the Services may be suspended due to technical maintenance, migration or updates, breakdowns or constraints in relation to the operation of the Internet, or any other reason.

Motion Labs does not represent and warrant or covenant that Your use of the Site or Protocol will always be uninterrupted, without delays, error-free, or meet Your expectations. The Site and the Services may become unavailable in any jurisdiction where they are currently available, and Motion Labs cannot guarantee the legality of the Services in any specific jurisdictions to which You might be subject.

The Protocol is a DeFi application, and any third party can integrate the Protocol (or part thereof) into its own protocol, application, services, or similar (subject to the Protocol license terms). Any reference to such integration is made by Motion Labs for informational purposes only. Unless specifically indicated otherwise by Motion Labs, Motion Labs is not involved in, does not control, support, endorse, audit, or monitor any such third party integration.

Protocol Disclaimer

If You are accessing or using the Protocol, please note the following:

  • No legal claim: All functionalities of the Protocol are of a purely technical nature, are not associated with, and do not convey any legal claim toward any entity, individual, or group of individuals, including but not limited to Motion Labs, any of its representatives or any individual or group of Vesu project contributors, team members, and similar persons.
  • No operation and no relationship: The Protocol has been deployed and runs in an open and autonomous manner on Starknet (and potentially other networks). While Motion Labs is a contributor, Motion Labs is not responsible for the operation, the running, or the functioning of the Protocol or for any interactions, collaborations, or mere factual relationships between users and the smart contracts of the Protocol or between users themselves. Any usage of the term 'we', 'our', etc. in this context is purely semantic and not to be understood as an assumption of ownership of the Protocol.
  • No control: Motion Labs has neither access to nor any possibility to control and/or influence any transactions or deposits made by users using the Protocol. Any assets potentially placed with the smart contracts of the Protocol are in the sole control and subject to the sole logic of the respective smart contracts, and cannot be accessed by Motion Labs or any third party. There is no operational dependency of the Protocol on Motion Labs.
  • No partnership: Motion Labs has not and will not enter into any legal or factual relationship with any user of the Protocol. Users do not agree and do not state their will to enter into or create a simple partnership, joint venture, or similar sort of legal structure by using the Protocol.
  • Assumption of risks: The User understands and acknowledges that the Protocol, in particular, and smart contracts, blockchains, cryptographic tokens, and related systems and software, in general, are nascent, experimental, inherently risky, and subject to change. In order to understand the risks associated with using the Protocol, as well as any other blockchain-based technology, users are strongly encouraged to get acquainted with the underlying protocols as much as possible. You bear sole responsibility for all risks associated with accessing, using, and interacting with the Protocol, which include, but are not limited to:
  • - Any crypto assets used in connection with the Protocol are at risk of being lost indefinitely (due to various reasons including errors, bugs, hacks, etc.), without any kind of consideration.
  • - While accessing the Protocol, there is a possibility that Your crypto assets could depreciate partially or entirely in value. Borrowing through the Protocol requires that You provide Your own crypto assets as security. In the event that the value of Your security fails to adequately cover Your borrowings, Your collateral may be seized by others through liquidation. You acknowledge that Motion Labs accepts no liability for any of these circumstances or risks, as we neither possess nor control the Protocol. Transactions entered in connection with the Protocol are irreversible, and final and there are no refunds. Any transactions by You are unsolicited and solely initiated, and their outcome is solely borne, by, You.
  • - The Protocol is non-custodial. You are solely responsible for implementing reasonable measures to secure access to the wallet solution (i.e., private key(s) or other credentials) used to interact with Protocol or receive, hold, send, and use crypto assets.
  • - The Protocol could be impacted by one or more regulatory inquiries or regulatory actions, which could impede or limit the availability of the Protocol and your continued use of the Protocol. The Protocol has not been reviewed, registered, approved, or licensed by any regulatory agency or authority.

Limitation of Liability and Indemnity

TO THE MAXIMUM EXTENT PERMITTED UNDER APPLICABLE LAW, MOTION LABS IS NOT LIABLE TO ANY USER FOR DAMAGES, INCLUDING ANY DIRECT AND INDIRECT, SPECIAL, INCIDENTAL, OR CONSEQUENTIAL DAMAGES ARISING OUT OF THE USE, IN CONNECTION WITH THE USE OR INABILITY TO USE THE SERVICES (INCLUDING BUT NOT LIMITED TO LOSS OF THE CRYPTO ASSETS OR TOKENS). Motion Labs will not be held liable for the inaccuracy, incompleteness, or unavailability of the Services, or the incompatibility of the Services with any specific objectives that the User is hoping to achieve. The User acknowledges and agrees that the Protocol is an open-source project to which Motion Labs has contributed, but cannot be held responsible for. No individual or groups of contributor(s), developer(s), entity(ies), any of such entity(ies) representatives or directors, or any other persons involved in any way with the Vesu project are liable to you for any claims or damages whatsoever.

You agree to indemnify and hold Motion Labs harmless from and against any loss, damage, liability, claim, or demand, including reasonable attorneys' fees and expenses, made by any third party due to or arising out of (i) any breach of these Terms or any law or regulation applicable to You, Your affiliates, Your employees or any other persons acting Your behalf; (ii) any breach of any other agreement You are a party to, or (iii) Your violation of the rights of a third party.

Miscellaneous

Entire Agreement: These Terms, including any additional documents that are incorporated into these Terms by reference (if any), constitute the entire agreement relating to your use of the Services. General terms and conditions of the User are excluded.

Changes to Terms: Motion Labs may, from time to time, change these Terms in its sole discretion and without any prior announcement. The Terms at the time of use of Services apply.

No Assignment: The User may not assign any of its rights, obligations, or claims under the Terms without the previous written and express consent of Motion Labs.

Severability:: If any provision of the Terms (in whole or part) is held to be illegal, invalid, or otherwise unenforceable, the other provisions will remain in full force and effect.

Governing Law & Jurisdiction: These Terms, and all claims or causes of action that may be based upon, arising out of, or relating to these Terms, shall be governed by and construed in accordance with substantive Swiss law, excluding its conflict of law provisions and the United Nations Convention on Contracts for the International Sale of Goods (CISG). The ordinary courts at the seat of Motion Labs have jurisdiction for all disputes arising from or in connection with the Terms.

Class action and jury trial waiver: You must bring any and all disputes against us in Your individual capacity and not as a plaintiff in or member of any purported class action, collective action, private attorney general action, or other representative proceeding. This provision applies to class arbitration. You and we both agree to waive the right to demand a trial by jury.

Contact

If You need to contact us in relation to these Terms or any other document mentioned in them, please email us at legal@vesu.xyz.

Updated: 08-07-2024. All rights reserved.