Terms of Service

Last Updated: Sep 1, 2024

Introduction and Acceptance of Terms

The Haust Ecosystem is provided by Haust Labs Limited, a company incorporated under the laws of Hong Kong. These Terms and Conditions ("Terms" or "T&Cs") govern your use of all products within the Haust Ecosystem, including the Haust Wallet. By accessing or using any part of the Haust Ecosystem, you acknowledge that you have read, understood and agree to these Terms, which constitute a legally binding agreement between you and Haust Labs.

Certain services available through the Haust Wallet may have additional terms and conditions. By using those services, you agree to be bound by the respective terms applicable to each service.

Agreement to Terms

By accessing or using any part of the Haust services, you acknowledge that you have read and understood these Terms, agree to be bound by them and confirm that you are legally competent to enter into this agreement. If you do not agree to be bound by these Terms or any subsequent updates or modifications, you may not access or use the services. It is important to note that Haust Labs does not provide investment or financial advice or consulting services. We only provide Haust products and do not offer recommendations or advice regarding digital asset transactions or operations. Any decision to engage in such transactions or operations is made solely at your own discretion.

Before using Haust Ecosystem products, you must carefully read these Terms. By accessing or using any Haust products, functionality or content in any manner, or by clicking a button or checkbox that indicates acceptance, you agree to these Terms and consent to the collection, use and disclosure of information as outlined in our Privacy Policy, which is available at https://docs.haust.network/privacy. The Privacy Policy is incorporated by reference and forms part of these Terms, so any mention of the "Terms of Use" or "Agreement" includes a reference to the Privacy Policy.

These Terms, along with all attached exhibits, annexes and schedules, constitute the entire agreement between the parties regarding its subject matter and supersede all prior representations, agreements and understandings, whether oral or written. Each party confirms that in agreeing to these Terms, they rely solely on the statements and provisions explicitly set forth herein.

This agreement is drafted in English, and all related communications, including notices or transmitted information, shall be conducted in English. Should these Terms or any part of them be translated into another language for any reason, the English version will prevail in case of any dispute. Although you may choose to view Haust products in your local language, these translations are provided for convenience only and Haust Labs does not guarantee their accuracy. In the event of a disagreement, the English version of these Terms, as well as any disclaimers or communications, shall take precedence.

Eligibility

To be eligible to use the Haust Ecosystem products, you must meet the following conditions: First, you must be at least eighteen (18) years of age or of the age of majority in your jurisdiction if higher and legally competent to enter into binding agreements. You must also reside in a jurisdiction where the use of the Haust Ecosystem products is permitted under local laws, rules and regulations. Additionally, you may not be a resident, citizen or otherwise located in any jurisdiction subject to trade embargoes, sanctions or restrictions imposed by international authorities, including, but not limited to the United Nations Security Council Resolutions (UNSCR), HM Treasury’s financial sanctions regime or other similar sanctions authorities.

Furthermore, you must not be subject to or owned or controlled by a person or entity subject to, sanctions or designations on any restricted party list, such as the United Nations Security Council Sanctions List, the U.S. Department of Treasury's Specially Designated Nationals List, the Foreign Sanctions Evaders List, or any equivalent list maintained by the U.S. Department of Commerce, the United Kingdom, the European Union, or any other applicable governmental authority. If you are acting on behalf of a legal entity, you represent that the entity is duly organized and validly existing under the laws of its jurisdiction and you have the legal authority to bind the entity to these Terms.

You are further required to ensure that your use of the Haust Ecosystem products is compliant with all applicable laws and regulations in your jurisdiction. By accessing and using these products, you affirm that you are utilizing legally obtained funds that rightfully belong to you. You agree that Haust reserves the right to modify its eligibility criteria at any time and may refuse access or usage of its products to any individual or entity at its sole discretion.

In cases where an account is required to use Haust Ecosystem products, you are responsible for the security of your account credentials and must promptly notify Haust of any unauthorized use. Any loss of access to your account or failure to comply with these terms, including misrepresentation or provision of inaccurate information, may result in the suspension or termination of your account. Moreover, Haust is not responsible for the security of any private key associated with your cryptocurrency wallet and you bear sole responsibility for any loss resulting from a failure to retain or secure your private key.

Services Provided

Haust Wallet is a non-custodial software designed to facilitate the management of digital assets, including cryptocurrencies, by providing users with control over their private keys and wallet addresses. As a user, you acknowledge that you are solely responsible for the management and security of your Digital Assets and the private keys associated with your wallet. By utilizing Haust Wallet, you authorize all transactions from your wallet address at your own risk and liability.

The wallet offers the following functionalities: the generation of wallet addresses and associated private keys, which you may use for sending and receiving digital assets; the ability to swap or trade digital assets through decentralized application (DApp) functionality made available via the Haust DEX; the option to stake digital assets in third-party proof-of-stake networks through Haust Lend's staking services; and the ability to view digital asset price information, which is provided by third-party service providers.

Regarding wallet security, Haust Wallet enables users to store encrypted backups of specific wallet-related information on eligible devices. The private key is associated with the wallet address and together they authorize the transfer of Digital Assets. You are solely responsible for ensuring the security and retention of your private key. It is crucial to securely back up your private keys or passwords, as failure to do so may result in the permanent loss of access to the Digital Assets linked to your wallet.

Haust Wallet does not store or have access to your wallet password, encrypted private key or unencrypted private key. If you fail to properly store a backup of your wallet address and associated private key, you acknowledge that you will lose access to any Digital Assets in that wallet and Haust Wallet will bear no responsibility for such loss. You accept that Haust Wallet is not liable for any inability to access your wallet, including due to negligence in securing your wallet credentials.

Haust Wallet does not provide services beyond those described above. Specifically, the wallet does not offer investment advice, nor does it make any guarantees regarding the functionality, performance or security of the blockchain networks you may interact with. Users are responsible for their own decisions and the potential risks involved in interacting with blockchain technologies.

User Responsibilities

You are solely responsible for safeguarding your private key, acknowledging that the method you choose to store it, such as on a personal device or via cloud storage, may increase the risk of compromise to your account or secret recovery phrase. You further agree not to disclose any password or private key associated with your use of the Haust Ecosystem product and/or Application to us or any third party. We disclaim any liability arising from your sharing of such information, whether intentional or accidental. For clarity, we accept no responsibility for any theft or loss of a private key, including instances where a breach occurs involving a cloud storage provider.

As the Application does not store your private keys or passwords on its servers, it is critical that you ensure the security of these credentials. We strongly recommend storing your private key offline in a secure location accessible only to you. In the event that your private key or password is lost, we will not be able to recover it, and you will lose access to your digital assets.

Given that the Application is installed locally on your device, you are responsible for maintaining the security of that device. This includes updating or upgrading the Application as necessary, maintaining up-to-date antivirus software, and ensuring the device is protected from malware. We disclaim any liability for losses or damages resulting from your failure to properly secure your device.

You are required to comply with all applicable local, national and international laws when using the Haust Ecosystem products. Any failure to do so is at your own risk and we disclaim any responsibility for your non-compliance with such legal obligations.

Risk Acknowledgement

By accessing and using the functionality, you acknowledge that cryptocurrency transactions involve significant risk. The inherent volatility of digital asset markets, influenced by factors such as adoption, speculation, technological developments, security issues and regulatory changes, can lead to substantial fluctuations in value. You recognize that transactions within cryptographic and blockchain-based systems may experience delays or increased costs at any time. Moreover, you accept that digital assets, whether obtained directly or through third-party exchanges, may lose part or all of their value. You further acknowledge that token markets may involve fraudulent activity, including the creation of counterfeit tokens and that you bear full responsibility for any losses arising from such activities. We assume no liability for any of these risks or any potential losses resulting from your use of the Haust Ecosystem products.

You acknowledge and accept that, due to the immutability of blockchain technology, all transactions are final and irreversible. Any loss of private keys or unauthorized access to your digital assets may result in a permanent loss of those assets, with no means of recovery. You further recognize that advances in cryptography, including the potential development of quantum computing, may present additional risks to the security of digital assets. Although we intend to update our smart contracts to mitigate these risks, such efforts are not guaranteed and do not ensure complete security of the system.

Furthermore, you acknowledge that the Haust blockchain and other related networks are still under development, which introduces both technological and security risks. These risks may impact the cost, speed and overall reliability of transactions within the system and any increase in costs or delays in transaction processing may affect your use of the functionality. You understand that we provide no ongoing obligation to alert you to these risks and you are solely responsible for evaluating any software or functionality provided by Haust Labs.

Finally, all digital asset transactions carry financial risk, including the potential for substantial loss, especially in cases of leveraged trading. You accept full responsibility for assessing the suitability of such transactions based on your financial situation and acknowledge that all transaction decisions are yours alone. We assume no responsibility for any losses incurred through your use of the Haust Ecosystem or its functionality.

Prohibited Activities

By using the wallet, you agree to comply with all applicable laws, whether local, provincial, state, federal, national or international. You further agree that the Haust Ecosystem products will not be used for any illegal purpose, including but not limited to money laundering, financing terrorism, fraud or participation in any prohibited activities such as illegal trade or gambling. Should we determine that you have engaged in activities that violate these Terms or any applicable legal or regulatory standards, including the Bank Secrecy Act, we reserve the right to take appropriate legal action and to exercise all remedies available to us.

Additionally, you are prohibited from engaging in activities that could harm the wallet or the blockchain networks associated with it, including hacking, phishing or exploiting vulnerabilities in the system. You must not encourage or induce others to engage in such harmful activities. Furthermore, you agree not to impersonate other users, access their wallets without authorization or interfere with the functionality of the Services in a way that disrupts other users’ experience. Introducing malicious software, such as viruses or attempting to bypass security measures designed to protect the wallet’s infrastructure is strictly prohibited. Similarly, any actions that impose an unreasonable or disproportionately large load on our systems or those of third-party providers, are not permitted.

We retain the discretion to monitor user activities and content, and we reserve the right to take necessary measures, including terminating access to the Services, if these Terms are breached. The use of the wallet or any associated services without explicit authorization or in any manner that infringes on the intellectual property or privacy rights of others, is strictly prohibited. Any such violations will result in the immediate termination of your access to the wallet, without notice.

Third-Party Services and Integrations

When interacting with third-party decentralized applications (dApps) or services through the Haust Ecosystem products, users acknowledge that such interactions are governed by separate terms and conditions, as well as inherent risks associated with those third parties. The Haust Ecosystem products neither control nor assume responsibility for the content, functionality or security of any third-party services, dApps or blockchain protocols integrated with the platform. Any description, reference or link to third-party products or services is provided solely for convenience and should not be construed as an endorsement or promotion of those third parties.

Users engaging with third-party content, including but not limited to dApps or other external services, do so at their own risk and are solely responsible for any transactions or actions taken through such services. The Service disclaims all liability for any loss, damage or harm resulting from interactions with third-party services, including issues arising from malware, inaccurate information or the performance of third-party products. Furthermore, the wallet does not provide warranties or representations regarding the legitimacy, reliability or security of these third-party services.

By linking the Service to any third-party platform or service, users accept full responsibility for complying with the applicable terms, privacy policies and conditions of the third party. Any permissions granted to third parties to interact with the user’s wallet are given at the user’s own discretion, and the user remains fully accountable for all actions taken by those third parties. The wallet retains the right to modify or remove access to any third-party service without notice.

Fees and Payment Terms

Users may be subject to various fees when accessing certain functionalities or services, including but not limited to transaction or network fees (e.g., gas fees) associated with blockchain networks. These fees are not charged or controlled by Haust but may be imposed by third parties, such as decentralized applications (DApps) or exchanges that users interact with via the Haust Wallet or other Haust Ecosystem products. Users are responsible for ensuring that they have sufficient balances in their wallets to complete transactions. Haust shall not be held liable for any failed transactions or losses incurred due to improperly set transaction fees or insufficient funds.

Fee amounts will be disclosed at the time of service access or made available through the Haust Ecosystem products, with an effort to provide accurate estimates. However, users acknowledge that such estimates may differ from the actual fees charged by the relevant network or third-party providers. Haust reserves the right to modify its fee structures at any time and will notify users accordingly. Such modifications may take effect immediately and will be reflected in the fees displayed during service use. Under no circumstances will Haust be responsible for any third-party fees incurred during the use of external protocols, networks or services accessed through the Haust platform.

Taxes

You are solely responsible for determining the tax implications arising from your use of the Services, including but not limited to income tax and capital gains tax related to the purchase, sale or other transactions involving Tokens or Digital Assets. By using the Services, you acknowledge that it is your responsibility to assess, report and remit any taxes that may apply to your activities to the appropriate tax authorities. We bear no obligation to calculate, collect, report or remit any taxes on your behalf, nor to determine whether your transactions are subject to taxation. You agree that we are not liable for any tax-related consequences or obligations stemming from your use of the Services and you should consult with a qualified tax professional to ensure compliance with all applicable tax laws, which may vary depending on jurisdiction and be subject to differing interpretations by various authorities.

Intellectual Property

All intellectual property rights in the Haust Ecosystem products, including but not limited to the source code, branding and any associated content, are owned exclusively by the company or are licensed to the company by third parties. No provision within these Terms of Service confers any ownership rights to the user in relation to any intellectual property belonging to the company or its licensors. The user acknowledges that the act of downloading or accessing the Haust Ecosystem products or its contents does not result in any transfer of ownership.

The company grants the user a non-exclusive, non-transferable, and limited license to use the wallet solely in accordance with these Terms of Service. This license is granted for the user’s personal, non-commercial use only, and does not constitute a sale or transfer of the services or any underlying rights.

Disclaimer of Warranties

The services provided by Haust are offered strictly on an "as-is" and "as available" basis, without any warranties of any kind. To the fullest extent permitted by law, we disclaim any and all representations and warranties, whether express or implied, regarding the services, the underlying software and any information, content or features associated with or accessible through the services. This includes, but is not limited to, warranties related to merchantability, fitness for a particular purpose, title, non-infringement and the absence of viruses or harmful components. Any implied warranties that may arise from the course of dealing, course of performance or trade usage are expressly disclaimed. We do not guarantee that the services or the content available through them will be accurate, complete, current or free from viruses or other harmful elements. Moreover, we make no representations or warranties that the services will meet your requirements or that access to Haust Ecosystem products will be continuous, uninterrupted, timely or free from errors.

Additionally, we expressly state that Haust does not control or influence blockchain networks. As such, we cannot and do not guarantee the performance, functionality or availability of any blockchain networks that may be involved in or affect the services. Any reliance on the operation or performance of such networks is solely at your own risk.

Limitation of Liability

You acknowledge and agree that Haust Ecosystem products shall not be liable for any losses, damages or claims arising from failures, disruptions, errors or delays in the processing of digital assets, including but not limited to risks related to hardware, software, Internet connections, unauthorized access, malicious software or vulnerabilities within blockchain networks. We assume no responsibility for user errors, such as forgotten passwords, mistyped asset addresses or unauthorized access to your wallet. You release us from liability for damages resulting from any unauthorized third-party activities, including but not limited to viruses, phishing, and other cyberattacks.

In no event shall we or any of our shareholders, officers, directors, agents, employees or representatives be held liable under any legal theory, whether contract, tort, strict liability or negligence, for any direct, indirect, incidental, special, punitive, compensatory or consequential damages. This includes but is not limited to lost profits, data loss or procurement costs for substitute goods or services, even if we were advised of the possibility of such damages. Furthermore, any liability for unauthorized use of your wallet or private key due to your failure to maintain confidentiality is expressly excluded.

To the fullest extent permitted by law, the total aggregate liability of Haust Ecosystem Products to you, regardless of the legal basis, shall be limited to the amount paid by you for the services, or in any case, shall not exceed one hundred U.S. dollars ($100.00) or its equivalent in local currency. This limitation applies unless prohibited by law, particularly in cases involving personal injury or jurisdictions that do not permit such exclusions of liability. Under no circumstances shall we be required to deliver digital assets as damages or provide specific performance remedies.

Indemnification

The user agrees to indemnify and hold harmless the wallet provider, its affiliates, licensors, shareholders, directors, officers, employees, agents, representatives, contractors, and third-party service providers from and against any and all claims, liabilities, losses, damages, costs and expenses (including, without limitation, reasonable legal and accounting fees and any regulatory fines or penalties) arising out of or in connection with the user’s access to or use of the wallet services, violation of these Terms of Service, any breach of applicable laws or regulations, infringement of third-party rights or any wrongful or improper conduct in connection with the service. This indemnification obligation includes, but is not limited to, any claims related to the user's inability to use the service, feedback or submissions provided by the user or any third-party content or functionality accessed through the service.

Termination

Haust Labs reserves the right to terminate or suspend your access to and use of the Haust Ecosystem products and associated services at any time and without prior notice, at its sole discretion. This right may be exercised under various circumstances, including but not limited to: (i) any breach by you of these Terms or any other applicable terms and conditions; (ii) compliance with Applicable Laws or to prevent criminal activities; (iii) suspicion of fraudulent or unlawful activities, such as money laundering or terrorism financing; (iv) provision of false, inaccurate, incomplete or misleading information; or (v) addressing any defect or compromise in the information systems supporting the Haust Ecosystem products.

Upon termination or suspension of your access, all rights and licenses granted to you under these Terms shall immediately cease. You must promptly discontinue all use of the Haust Ecosystem products, related services and any content provided. Termination of your access does not affect any rights or obligations that accrued prior to the termination.

You may terminate your use of the Haust Wallet at any time by uninstalling the Haust Wallet App from your device and ceasing all use of the associated services. After termination, access to your funds will depend on your ability to access your backup wallet address and private key. Despite termination, certain provisions of these Terms, including Content and Content Rights, Content Ownership, Responsibility and Removal, Termination, Warranty Disclaimers, Indemnity, Limitation of Liability, Dispute Resolution and General Terms, will remain in effect.

Amendments

The wallet provider reserves the right to amend these Terms of Service (ToS) at its sole discretion. Any modifications or updates to the ToS will be communicated through postings on the Site, updates within the App, or other methods deemed reasonable by the provider. Such modifications will become effective immediately unless a different effective date is specified. It is the user's responsibility to review the ToS periodically to remain informed of any changes. Continued use of the service following the posting of amended ToS constitutes acceptance of the updated terms. If a user does not agree with the changes, they must cease using the service and notify the provider via email at [e-mail].

Governing Law and Dispute Resolution

These Terms of Service, including any issues or disputes arising from or related to this document—whether such disputes are contractual or non-contractual in nature, such as claims in tort, breach of statute or regulation or otherwise—shall be governed by and construed in accordance with the laws of Hong Kong.

Any dispute, controversy, difference or claim arising out of or relating to these Terms, including but not limited to questions regarding their existence, validity, interpretation, performance, breach or termination, shall be referred to and resolved through arbitration administered by the Hong Kong International Arbitration Centre (HKIAC) under its administered arbitration rules in force at the time the Notice of Arbitration is submitted. The seat of arbitration shall be Hong Kong, the proceedings shall be conducted in English, and the number of arbitrators shall be one.

The parties expressly waive any objection based on lack of personal jurisdiction, improper venue or forum non conveniens, and agree to submit to the jurisdiction of the courts of Hong Kong for the purposes of enforcing any arbitration award.

Miscellaneous

If any provision of these Terms is found to be unenforceable under applicable law, the remaining provisions will continue to be valid and enforceable. Should a court of competent jurisdiction determine any provision to be unenforceable, such provision may be reformed by the court to render it enforceable, while the remaining provisions will remain unaffected. All provisions will be interpreted to the extent possible to uphold their legality and enforceability.

These Terms represent the complete and exclusive agreement between the user and the Service provider regarding the service, superseding and nullifying all previous agreements, drafts and understandings, whether written or oral, relating to the service.

Contact Information

For any inquiries related to these Terms of Service, your rights and obligations under these Terms or your use of Haust Wallet and the Haust Ecosystem products, please contact us at [e-mail].

We welcome your feedback and are interested in hearing about ways to enhance our products. By submitting feedback, you agree to relinquish any rights to that feedback, permitting us and others to use it without restriction or compensation. Should you choose to contact us, rest assured that any personal data provided will be handled in accordance with our Privacy Policy.