Terms of Service

1. Acceptance of Terms

Welcome to BlockCredit. By accessing or using our platform, you agree to be bound by these Terms of Service and all applicable laws and regulations. If you do not agree with any of these terms, you are prohibited from using this platform.

2. Description of Service

BlockCredit is a decentralized peer-to-peer lending platform that enables users to:

• Borrow funds by providing Bitcoin as collateral
• Lend funds to borrowers and earn interest
• Create custom loan terms and conditions
• Execute loans through automated smart contracts

BlockCredit operates as a non-custodial platform. We do not hold, control, or have access to your funds or private keys at any time.

3. Eligibility

To use BlockCredit, you must:

• Be at least 18 years of age or the legal age of majority in your jurisdiction
• Have the legal capacity to enter into binding contracts
• Not be prohibited from using our services under applicable laws
• Comply with all laws and regulations in your jurisdiction
• Not be located in a sanctioned country or on any sanctions list

4. User Responsibilities

4.1 Account Security

You are responsible for:

• Maintaining the security of your wallet and private keys
• All activities that occur under your wallet address
• Keeping your login credentials confidential
• Notifying us immediately of any unauthorized access

4.2 Accurate Information

You agree to provide accurate, current, and complete information when using our platform and to update such information as necessary.

4.3 Compliance

You must comply with all applicable laws, including but not limited to:

• Anti-money laundering (AML) regulations
• Know Your Customer (KYC) requirements
• Tax reporting obligations
• Securities and commodities laws

5. Prohibited Activities

You agree not to:

• Use the platform for any illegal or unauthorized purpose
• Violate any laws in your jurisdiction
• Engage in market manipulation or fraudulent activities
• Attempt to circumvent platform security measures
• Use automated tools to access or interact with the platform without permission
• Interfere with or disrupt the platform or servers
• Impersonate any person or entity
• Upload malicious code or viruses
• Collect or harvest data from other users

6. Loans and Lending

6.1 Loan Terms

All loan terms, including interest rates, collateral ratios, and repayment schedules, are determined by borrowers and lenders through mutual agreement. BlockCredit does not set or guarantee loan terms.

6.2 Smart Contracts

Loans are executed through smart contracts on the blockchain. Once a loan is initiated:

• The terms cannot be modified or reversed
• Collateral is automatically locked in the smart contract
• Liquidation occurs automatically if conditions are met
• All actions are recorded permanently on the blockchain

6.3 Risks

You acknowledge and accept the following risks:

• Market Risk: Bitcoin price volatility may affect collateral value
• Liquidation Risk: Collateral may be liquidated if its value drops below required thresholds
• Default Risk: Borrowers may fail to repay loans
• Smart Contract Risk: Bugs or vulnerabilities in smart contracts may result in loss of funds
• Blockchain Risk: Network congestion or failures may delay transactions

7. Fees

BlockCredit may charge fees for using the platform, including:

• Transaction fees for loan creation and repayment
• Platform fees (if applicable)
• Gas fees for blockchain transactions (paid to network validators)

All fees will be clearly disclosed before you confirm any transaction. Fees are subject to change with reasonable notice.

8. Disclaimer of Warranties

BlockCredit is provided "as is" and "as available" without warranties of any kind, either express or implied, including but not limited to:

• Merchantability or fitness for a particular purpose
• Uninterrupted or error-free operation
• Accuracy or reliability of information
• Security of data transmission

9. Limitation of Liability

To the maximum extent permitted by law, BlockCredit and its affiliates, officers, employees, agents, or partners shall not be liable for:

• Any indirect, incidental, special, or consequential damages
• Loss of profits, revenue, data, or business opportunities
• Loss of cryptocurrencies or digital assets
• Damages resulting from unauthorized access to your wallet
• Losses due to smart contract bugs or blockchain failures
• Damages from actions or omissions of third parties

Our total liability shall not exceed the amount of fees you paid to us in the 12 months preceding the claim.

10. Indemnification

You agree to indemnify, defend, and hold harmless BlockCredit and its affiliates from any claims, damages, losses, liabilities, and expenses (including legal fees) arising from:

• Your use or misuse of the platform
• Your violation of these terms
• Your violation of any rights of another person or entity
• Your violation of applicable laws or regulations

11. Intellectual Property

All content on BlockCredit, including text, graphics, logos, code, and software, is the property of BlockCredit or its licensors and is protected by copyright, trademark, and other intellectual property laws.

You may not copy, modify, distribute, sell, or lease any part of our platform without our express written permission.

12. Privacy

Your privacy is important to us. Please review our Privacy Policy to understand how we collect, use, and protect your personal information.

13. Modifications to Terms

We reserve the right to modify these terms at any time. We will notify users of material changes by:

• Posting the updated terms on our platform
• Updating the "Last updated" date
• Sending email notifications (if you have provided your email)

Your continued use of the platform after changes constitutes acceptance of the modified terms.

14. Termination

We reserve the right to suspend or terminate your access to BlockCredit at any time, with or without cause or notice, including if:

• You violate these terms
• You engage in fraudulent or illegal activities
• We are required to do so by law
• We cease operations

Upon termination, your right to use the platform will immediately cease. However, any loans or transactions in progress will continue to be governed by their smart contract terms.

15. Dispute Resolution

15.1 Governing Law

These terms shall be governed by and construed in accordance with the laws of [Jurisdiction], without regard to its conflict of law provisions.

15.2 Arbitration

Any disputes arising from these terms or your use of BlockCredit shall be resolved through binding arbitration, except where prohibited by law.

15.3 Class Action Waiver

You agree that any proceedings will be conducted on an individual basis and not as a class action, consolidated action, or representative action.

16. Miscellaneous

16.1 Entire Agreement

These terms constitute the entire agreement between you and BlockCredit and supersede all prior agreements.

16.2 Severability

If any provision of these terms is found to be invalid or unenforceable, the remaining provisions will remain in full force and effect.

16.3 No Waiver

Our failure to enforce any right or provision of these terms will not constitute a waiver of such right or provision.

16.4 Assignment

You may not assign or transfer these terms without our prior written consent. We may assign our rights and obligations without restriction.

17. Contact Information

If you have any questions about these Terms of Service, please contact us:

• Email: legal@blockcredit.app
• Website: blockcredit.app
• Documentation: docs.blockcredit.app