Definitions

• 1.Introduction:

  • Client or Clients:refer to any legal or natural persons who utilize or intend to utilize the services provided by Paydefi.
  • Services:encompass the array of functionalities provided through Paydefi’s product offerings
  • Cryptocurrency:pertains to digital currencies grounded in blockchain technology.
  • Fiat Currency:refers to state-issued legal tender not underpinned by a physical commodity.
  • Digital Assets:include, but are not limited to, cryptocurrencies and tokenized assets.
  • Decentralized Exchange:(DEX) denotes a cryptocurrency exchange platform operating devoid of a central governing body, enabling peer-to-peer trading.
  • Paydefi Account:signifies the user account on Paydefi’s platform that stores and displays the Client’s information

• 2.Scope:

  These Terms delineate the rights, obligations, and conditions binding upon both the Client and Paydefi (collectively referred to as the 'Parties'). They specifically address the legal relationship concerning the use of Paydefi’s services for tracking, configuring, receiving, and conducting payments via Paydefi’s platform.

Service Provisions

• 3.Peer-to-Peer Transactions:

  Paydefi facilitates peer-to-peer transactions between non-custodial wallets on decentralized blockchain networks. Paydefi itself does not execute transactions; these are conducted by users through their self-hosted crypto wallets.

• 4.Registration and Account Management:

  • Clients are required to establish a Paydefi Account to manage decentralized, peer-to-peer payments.
  • The Client must provide accurate and up-to-date information and is responsible for maintaining the security of their account, including ensuring secure email access and notifying Paydefi of any security breaches

• 5.Two-Factor Authentication (2FA):

  Clients are strongly urged to enable and uphold 2FA for enhanced security. Backup codes are essential for account recovery. Paydefi disclaims liability for losses stemming from compromised 2FA devices.

• 6.Account Security Incidents:

  Clients must promptly inform Paydefi of any security breaches concerning their Paydefi Account and continuously provide updates until the issue is resolved. Clients must also take proactive measures to mitigate the effects of any security breaches.

• 7.Blockchain Ledger/Wallet:

  Clients bear sole responsibility for maintaining the security of the devices used to access Paydefi’s services, which includes preventing loss, theft, or misuse.

• 8.Documentation:

  Paydefi reserves the right to request additional information or documentation from Clients as deemed necessary.

• 9.Acceptance:

  Paydefi retains the unilateral discretion to accept or reject potential Clients.

• 10.Termination:

  Paydefi reserves the right to terminate the agreement immediately upon any breach of these Terms by the Client. Clients may request the termination of their account at any time. Paydefi cannot restrict access to decentralized tools that have already been deployed on blockchain networks

• 11.Fiscal Responsibility:

  Clients are solely responsible for complying with their tax obligations. Paydefi does not provide tax or legal advice.

• 12.Lack of Legal Capacity:

  Clients are liable for any damages arising from their lack of legal capacity or that of third parties.

Usage and Liability

• 13.Paydefi Products:

  Paydefi offers a decentralized payment system for the conversion of digital assets. The access to and right of use of these services are non-exclusive and non-transferable

• 14.Information Disclosed on Paydefi Products:

  While Paydefi strives for accuracy, it does not guarantee the suitability, reliability, or fitness for any specific purpose of the information available on its platform..

• 15.Non-Payment Processing:

  Paydefi provides a platform for peer-to-peer payments but does not process payments directly or hold Client funds

• 16.Failed or Delayed Execution of Payments:

  Paydefi is not liable for failed or delayed transactions due to blockchain-related issues, including network congestion or transaction fees.

• 17.Blockchain Hard Forks and Reorganizations:

  Paydefi is not responsible for complications arising from blockchain hard forks or network reorganizations

• 18.Token Price Liability and Decentralized Exchange Quotes:

  Paydefi utilizes real-time quotes from decentralized exchanges. Clients assume the risks associated with the decentralized market dynamics.

• 19.Outsourcing:

  Paydefi may outsource activities to third-party entities or within its corporate group, while retaining overall responsibility for supervision and compliance.

• 20.Exclusion of Liability:

  Paydefi’s liability is limited to cases of malicious intent or gross negligence. Liability for service provider errors is restricted unless due diligence obligations were not fulfilled.

Fees and Policies

• 21.Fees:

  Fees may be levied as per the schedule available on Paydefi’s website. Clients are accountable for any blockchain network fees incurred.

• 22.Fair Use Policy:

  Clients must utilize services within the predefined limits to prevent degradation of service quality. Automated interactions, excessive usage, and illegal activities are strictly prohibited.

• 23.Payment Requests:

  Non-transactional payment requests and mass solicitations for payment requests are forbidden and may result in suspension or termination of services.

Confidentiality and Compliance

• 24.Confidentiality:

  Paydefi adheres to confidentiality regulations but may disclose information to protect its interests or those of the Client.

• 25.Various:

  • Confirmations and Notifications:Paydefi may communicate with Clients via email or other methods. Clients are responsible for acknowledging and acting upon these communications.
  • Monitoring and Recording Communication:Paydefi may monitor and record communications to gather evidence in disputes.
  • Hardware/Software and Access:Clients are responsible for ensuring they have the requisite hardware and software to access Paydefi’s services
  • Reservation of Legal Requirements:All applicable legal and regulatory provisions are deemed to be incorporated into these Terms.

• 26.Client Support:

  Clients must report complaints or objections regarding payments or account statements promptly to facilitate resolution.