Terms of Use

Last Updated: August 23, 2024

Welcome to Zelf Wallet! These Terms of Use govern your access to and use of Zelf Wallet, a non-custodial digital wallet service provided by VERIFIK LLC ("Company", "we", "us", or "our"). By accessing or using Zelf Wallet, you agree to be bound by these Terms and all applicable laws and regulations.

Interpretation and Definitions

Interpretation

The words of which the initial letter is capitalized have meanings defined under the following conditions. The following definitions shall have the same meaning regardless of whether they appear in singular or in plural.

Definitions

For the purposes of this Terms of Use:

• Blockchain: A digital ledger in which transactions made in cryptocurrencies are recorded chronologically and publicly.

• DApps (Decentralized Applications): Software applications that run on a distributed computing system, typically using blockchain technology.

• DEX (Decentralized Exchanges): Peer-to-peer marketplaces where transactions occur directly between crypto traders without the need for an intermediary or custodian.

• Digital Assets: Includes cryptocurrencies, tokens, and other types of digital media that have value and can be stored and transacted digitally.

• Private Recovery Key: A secret 12 to 24 paraphrase that allows a user to access their digital assets. This key must be kept secure as its disclosure can lead to loss of assets.

• License: The permission granted to users to access and use the software under specified terms and conditions.

• Open Source: Software with source code that anyone can inspect, modify, and enhance.

• Service refers to the Application or the Web extension or both.

• ZelfHash: QR code generated through the ZelfEncrypt algorithm

• ZelfEncrypt: Refers ****to an algorithm ****which ****utilizes face features, along with optional metadata and/or password, to generate an encrypted, high entropy, privacy-preserving, non-biometric, non-reversible, binary representation of your private recovery keys in the form of your ZelfHash. ZelfEncrypt is not considered Personal Data, since it does not collect or store any biometric data and is operated in a Database Free infrastructure.

Services Offered

Zelf Wallet is a self-custodial (non-custodian) wallet software, for digital assets such as cryptocurrencies, virtual commodities and NFTs (“Digital Assets”), meaning you are solely in control of and responsible for your Digital Assets, recovery keys and/or ZelfHash, and accordingly you can authorize transactions from your wallet address. You expressly acknowledge and agree that as Zelf Wallet is a self-custodial wallet software, you are solely responsible for your activity and any risk of loss at all times. Zelf Wallet allows you to:

• View digital asset price information made available by third party service provider(s);

• Generate wallet addresses and associated private keys that you may use to send and receive digital assets;

• Browse and access third party decentralized application(s) (“DApp(s)”) and third party decentralized exchanges (“DEX”) through the mobile application’s web browser;

• Swap/trade digital assets through DApp functionality made available by third party service provider(s); and

• Stake certain digital assets in a third party ‘proof of stake’ network through staking services (“Staking Service”);

Zelf Wallet. Users ****can access Zelf Wallet, a self-custodian (non-custodial) digital wallet for holding Digital Assets. You control the Digital Assets held in your Zelf Wallet in the form of the ZelfHash representing the recovery keys and ultimately the ownership of the digital asset. The recovery keys are NOT permanently stored on your device. At any time, WITHOUT INTERNET ACCESS, you can decrypt your ZelfHash and visualize the digital assets hosted in the wallet.

Access real time data of transaction history, asset balance and tokens found on a given public address. Conduct transactions using digital assets within the supported networks. At any time, subject to having internet access and the congestion on the blockchain, you may withdraw your Digital Assets by sending them to a different blockchain address**.**

Recovery Key Management: Zelf Wallet generates a 12 to 24-word recovery key, known as a ‘seed' phrase, that you and only you have access to. This recovery key is then encrypted using the entropy obtained from a liveness detection of the end user. Zelf also allows you to import recovery keys, create and manage multiple crypto wallets all encrypted with ZelfEncrypt. The result of the encryption is a ZelfHash in the form of a QR code, which replaces the need to memorize or safely stored the recovery keys. The ZelfHash must be scanned or uploaded to the Zelf Wallet to get access to the digital assets contained in it.

Ownership and Control. When holding your digital assets in Zelf Wallet, Zelf does not maintain control over your Zelf Wallet, ZelfHash or recovery keys. You own and control Digital Assets held in your Zelf Wallet. As the owner of the Digital Assets in your Zelf Wallet, you shall bear all risk of losing such Digital Assets. Users are responsible for the risk of loss of their ZelfHash and/or recovery keys, and Zelf will not recover such keys. Please remember that Zelf will never have access to the ZelfHash or recovery key so we cannot move funds on your behalf, nor can we help you access digital assets in your Zelf Wallet should you lose the ZelfHash and/or recovery key.

Wallet Creation

In order to use Zelf Wallet you must either import or create a wallet. When you create a wallet, you will be assigned a recovery key which we convert into a ZelfHash in the form of a QR code. YOU DO NOT NEED TO STORE THE RECOVERY KEY, INSTEAD WE RECOMMEND TO SAVE THE ZELFHASH IN YOUR PHONE OR IN ANY PLACE ACCESSIBLE FOR SCAN OR UPLOAD ON YOUR DEVICE. After scanning or uploading your ZelfHash code through the Zelf Wallet, you will be prompted to do a liveness authentication to be able to access your funds. The liveness detection will deter any Man-in-the-middle (MITM) attacks or any type of video injection. Notwithstanding the foregoing, you acknowledge and agree that you shall assume all risks related to the use of the Services and you shall be solely responsible for maintaining the confidentiality and security of your ZelfHash code.

When you create a wallet, you are strongly advised to take precautions in order to avoid loss of access to and/or control over your wallet. Suggested measures include, but are not limited to, the following: (a) utilize the two layers of encryption presented in the app; (b) do not store the recovery key in plain text online or in an unsecured physical location, instead save the ZelfHash code in an accessible place.

Notwithstanding anything to the contrary herein, we shall have no liability whatsoever in connection with activities that occur on your wallet with or without your authorization.

Push Notifications

You may agree to receive push notifications from Zelf Wallet that will alert you when blockchain networks supported by Zelf Wallet are congested and when transactions involving your wallet have been completed. If you would like to receive push notifications, you must opt in to the service by accessing “Settings” and enabling “Push Notifications”.

Payment and Fees

Fees applicable to the Services or any component of the Services, if any, shall be set forth at https://zelf.world/ and/or the Zelf Wallet mobile application.

Transaction Fees

There may be transaction fees (e.g. mining fees) associated with your virtual currency transactions that are required by the virtual currency system or blockchain network that you engage with. You must ensure that you have an adequate balance in your wallet and/or “gas” to complete transactions before initiating a transaction. You acknowledge and agree that we will not be liable for any failed transactions or losses you incur due to incorrectly set transaction fees (i.e. too low or too high) or due to insufficient funds or gas associated with your wallet address. You further acknowledge and agree that we do not have access to your or anyone else’s transactions.

Taxes

It is your responsibility to determine what, if any, taxes apply to the transactions that you have submitted transaction details for via the Services, and it is your responsibility to report and remit the correct tax to the appropriate tax authority. You agree that we are not responsible for determining whether taxes apply to your transactions or for collecting, reporting, withholding, or remitting any taxes arising from any Digital Asset-related transactions.

Acceptance of Terms

By using Zelf Wallet, you confirm that you have read, understood, and agreed to these Terms. If you do not agree with any part of these Terms, you must not use Zelf Wallet.

Premium Terms

The Zelf Premium Services are valid for 12 months from the purchase date.

Termination Policy

Non-adherence to Zelf's Terms of Service and abuse of Zelf Premium Services may trigger a temporary or permanent exclusion from Zelf Premium Services without compensation or denial of a full refund in case the Customer requests subscription cancellation.

Zelf reserves the right to discontinue subscriptions at any time due to external circumstances beyond its control or legal obligations.

Changes of Terms

We reserve the right to modify these Terms at any time. You are encouraged to review the Terms periodically for any changes. Your continued use of Zelf Wallet following the posting of changes will mean that you accept and agree to the changes.

Termination

We may terminate or suspend your access to Zelf Wallet without prior notice or liability, for any reason whatsoever, including without limitation if you breach the Terms.

Eligibility of Services

To be eligible to use Zelf Wallet: (i) you must be at least eighteen (18) years old and legally competent to enter into these Terms; (ii) you must not be a resident of sanctioned jurisdictions according to any trade embargoes, UN Security Council Resolutions (“UNSCR”) or HM Treasury’s financial sanctions regime; and (iii) you must not be currently the subject of or subject to economic sanctions such as the United Nations Security Council Sanctions List, the list of specially designated nationals maintained by OFAC, the denied persons or entity list of the U.S. Department of Commerce or any similar list maintained by any other relevant sanctions authority. If you are using our Services on behalf of a legal entity, you further represent and warrant that: (iv) the legal entity is duly organized and validly existing under the applicable laws of the jurisdiction of its organization; and (v) you are duly authorized by such legal entity to act on its behalf. You can only use our Services if permitted under the laws of your jurisdiction. For the avoidance of doubt, you may not use our Services if you are located in, or a citizen or resident of any state, country, territory or other jurisdiction where your use of our Services would be illegal or otherwise violate any applicable laws. Please make sure that these Terms are in compliance with all laws, rules, and regulations that apply to you. You agree that you are only using our Services with legally-obtained funds that rightfully belong to you. By using Zelf Wallet, you represent and warrant that you meet all eligibility requirements that we outline in these Terms. We may still refuse to let certain people access or use Zelf Wallet, however, and we reserve the right to change our eligibility criteria at any time.

Availability ad Accuracy

While we strive to provide a reliable and error-free service, Zelf Wallet depends on various factors such as third-party services and network availability, which may affect the availability and accuracy of our services. We do not guarantee that the services will always be available or uninterrupted.

Your Responsabilities

As a user of a non-custodial wallet, you are entirely responsible for managing your private keys, which are necessary to access your digital assets. You must keep your wallet information, including your recovery phrases, secure from loss or theft. Failure to do so may result in the irreversible loss of your assets.

Intellectual Properties

License

As long as you agree to and comply with the present Terms, we grant you a non-exclusive, non-sublicensable and non-transferable license to use Zelf Wallet for your personal use or internal business use only. Except as otherwise expressly permitted in these Terms, you will not: (a) reproduce, modify, adapt or create derivative works of any part of Zelf Wallet; (b) rent, lease, distribute, sell, sublicense, transfer, or provide access to Zelf Wallet; (c) use Zelf Wallet for the benefit of any third party; (d) incorporate Zelf Wallet into a product or service you provide to a third party without our prior written consent; (d) circumvent mechanisms in Zelf Wallet intended to limit your use; (f) reverse engineer, disassemble, decompile, translate, or otherwise seek to obtain or derive the source code, including images and texts, underlying ideas, algorithms, file formats or non-public APIs to Zelf Wallet, except to the extent expressly permitted by applicable law (and then only upon advance notice to us); (g) remove or obscure any proprietary or other notices contained in Zelf Wallet (h) use Zelf Wallet for competitive analysis, as part of any other software or project of any kind or to build competitive products.

Feedback

From time to time, you may choose to submit feedback to us. We may, in connection with Zelf Wallet, freely use, copy, disclose, license, distribute and exploit any feedback in any manner without any obligation, royalty or restriction based on intellectual property rights or otherwise. No feedback will be considered your Confidential Information, and nothing in this Agreement limits our right to independently use, develop, evaluate, or market products or services, whether incorporating feedback or otherwise.

Open Source

Zelf Wallet was developed under a GPL open source license. Information regarding Zelf Wallet’s current software can be found at https://github.com/ZelfWallet. Since software development is community-based, it can be accessed, used, and shared, in modified or unmodified form, by anyone. Please be aware that GPL is a copyleft license, which means that any derivative works can only be distributed under the same license terms as the original software. If you have any questions, you should review GNU’s terms and conditions at https://www.gnu.org/licenses/gpl-3.0.en.html

Content

Zelf Wallet may contain copyrighted material and trademarks including, but not limited to, text and graphics (the “Content”), which is protected by copyright law, registered and unregistered trademarks, and other intellectual property rights. Unless otherwise provided, we exclusively own the Content. Your use of Zelf Wallet does not grant you any right, title, or interest in the Content. You agree that you will not copy, reproduce, modify, republish, upload, post, transmit, distribute, collect, sell, license, create derivative works from, or, in any other way, whether manual or automated, exploit any of the Content, in whole or in part.

Limitations of Liability

The Company shall not be liable for any indirect, incidental, special, consequential or punitive damages, including without limitation, loss of profits, data, use, goodwill, or other intangible losses, resulting from (i) your access to or use of or inability to access or use the services; (ii) any conduct or content of any third party on the services; (iii) any content obtained from the services; and (iv) unauthorized access, use or alteration of your transmissions or content, whether based on warranty, contract, tort (including negligence) or any other legal theory, whether or not we have been informed of the possibility of such damage.

Disclaimer, Risks and Warranties

Disclaimer

THE SERVICES ARE PROVIDED “AS IS.” EXCEPT TO THE EXTENT PROHIBITED BY LAW, OR TO THE EXTENT ANY STATUTORY RIGHTS APPLY THAT CANNOT BE EXCLUDED, LIMITED OR WAIVED, WE AND OUR AFFILIATES AND LICENSORS (A) MAKE NO REPRESENTATIONS OR WARRANTIES OF ANY KIND, WHETHER EXPRESS, IMPLIED, STATUTORY OR OTHERWISE REGARDING THE SERVICES, THE THIRD PARTY CONTENT, OR THE THIRD PARTY SERVICES, AND (B) DISCLAIM ALL WARRANTIES, INCLUDING ANY IMPLIED OR EXPRESS WARRANTIES (I) OF MERCHANTABILITY, SATISFACTORY QUALITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT, OR QUIET ENJOYMENT, (II) ARISING OUT OF ANY COURSE OF DEALING OR USAGE OF TRADE, (III) THAT THE SERVICES, THIRD PARTY CONTENT, OR THIRD PARTY SERVICE WILL BE UNINTERRUPTED, ERROR FREE OR FREE OF HARMFUL COMPONENTS, AND (IV) THAT ANY CONTENT WILL BE SECURE OR NOT OTHERWISE LOST OR ALTERED. YOU ACKNOWLEDGE AND AGREE THAT YOU HAVE NOT RELIED AND ARE NOT RELYING UPON ANY REPRESENTATION OR WARRANTY FROM VERIFIK THAT IS NOT OTHERWISE IN THIS AGREEMENT OR IN A SEPARATE WRITTEN AGREEMENT BETWEEN US, AND YOU AGREE YOU WILL NOT TAKE A POSITION IN ANY PROCEEDING THAT IS INCONSISTENT WITH THIS PROVISION.

Risks

OUR SERVICES RELY ON EMERGING TECHNOLOGIES, SUCH AS ETHEREUM. SOME SERVICES ARE SUBJECT TO INCREASED RISK THROUGH YOUR POTENTIAL MISUSE OF THINGS SUCH AS PUBLIC/PRIVATE KEY CRYPTOGRAPHY, OR FAILING TO PROPERLY UPDATE OR RUN SOFTWARE TO ACCOMMODATE PROTOCOL UPGRADES, LIKE THE TRANSITION TO PROOF OF STAKE CONSENSUS OF SOME PROTOCOLS. BY USING THE SERVICES YOU EXPLICITLY ACKNOWLEDGE AND ACCEPT THESE HEIGHTENED RISKS. YOU REPRESENT THAT YOU ARE FINANCIALLY AND TECHNICALLY SOPHISTICATED ENOUGH TO UNDERSTAND THE INHERENT RISKS ASSOCIATED WITH USING CRYPTOGRAPHIC AND BLOCKCHAIN-BASED SYSTEMS AND UPGRADING YOUR SOFTWARE AND PROCESSES TO ACCOMMODATE OFFERING AND PROTOCOL UPGRADES, AND THAT YOU HAVE A WORKING KNOWLEDGE OF THE USAGE AND INTRICACIES OF DIGITAL ASSETS SUCH AS BITCOIN (BTC), ETHER (ETH), SOLANA (SOL) AND OTHER DIGITAL TOKENS, SUCH AS THOSE FOLLOWING THE ERC-20 TOKEN STANDARD. IN PARTICULAR, YOU UNDERSTAND THAT WE DO NOT OPERATE THE ETHEREUM PROTOCOL OR ANY OTHER BLOCKCHAIN PROTOCOL, COMMUNICATE OR EXECUTE PROTOCOL UPGRADES, OR APPROVE OR PROCESS BLOCKCHAIN TRANSACTIONS ON BEHALF OF YOU. YOU FURTHER UNDERSTAND THAT BLOCKCHAIN PROTOCOLS PRESENT THEIR OWN RISKS OF USE, THAT SUPPORTING OR PARTICIPATING IN THE PROTOCOL MAY RESULT IN LOSSES IF YOUR PARTICIPATION VIOLATES CERTAIN PROTOCOL RULES, THAT BLOCKCHAIN-BASED TRANSACTIONS ARE IRREVERSIBLE, THAT YOUR RECOVERY KEY (AKA SECRET RECOVERY PHRASE) MUST BE KEPT SECRET AT ALL TIMES, THAT VERIFIK WILL NOT STORE A BACKUP OF, NOR WILL BE ABLE TO DISCOVER OR RECOVER, YOUR RECOVERY KEY NOR YOUR ZELFHASH, THAT DIGITALLY COPYING AND STORING YOUR RECOVERY KEY ON A CLOUD STORAGE SYSTEM OR OTHER THIRD PARTY SUPPORTED DATA STORAGE, INCLUDING YOUR PERSONAL DEVICE, MAY INCREASE THE RISK OF LOSS OR THEFT, AND FOR THIS REASON VERIFIK RECOMMENDS TO INSTEAD COPY AND STORE THE ZELFHASH GENERATED IN THE ZELFWALLET ON A CLOUD STORAGE OR IN YOUR DEVICE.

IN ADDITION, WE HAVE TO MENTION THAT YOU ARE SOLELY RESPONSIBLE FOR ANY APPROVALS OR PERMISSIONS YOU PROVIDE BY CRYPTOGRAPHICALLY SIGNING BLOCKCHAIN MESSAGES OR TRANSACTIONS, ESPECIALLY THOSE RESPONDING TO SOLICITATIONS AND OTHER PROMPTS FROM THIRD PARTIES. WITH RESPECT TO THIRD PARTIES, YOU ARE AWARE THAT SOCIAL ENGINEERING SCAMS LIKE PIG BUTCHERING PERPETRATED BY MALICIOUS THIRD PARTIES IS A RISK AND YOU AGREE THAT YOU AND YOU ALONE ARE RESPONSIBLE FOR TRANSACTIONS OR AGREEMENTS WITH SUCH THIRD PARTIES THAT MAY LEAD TO INJURY. YOU AGREE THAT WE ARE NOT RESPONSIBLE FOR VERIFYING THE LEGITIMACY OR SAFETY OR SUITABILITY OF ANY THIRD PARTY APPLICATIONS OR TOKENS THAT YOU MAY INTERACT WITH OR RECEIVE USING OUR SERVICES. YOU ARE AWARE THAT THERE ARE TECHNICAL MEASURES IN CERTAIN SERVICES THAT IMPROVE USER SAFETY, AND YOU ARE SOLELY RESPONSIBLE FOR UNDERSTANDING HOW THEY FUNCTION AND USING THEM AS APPROPRIATE.

YOU FURTHER UNDERSTAND AND ACCEPT THAT DIGITAL ASSETS PRESENT MARKET VOLATILITY RISK, TECHNICAL SOFTWARE RISKS, REGULATORY RISKS, AND CYBERSECURITY RISKS. YOU UNDERSTAND THAT THE COST AND SPEED OF A BLOCKCHAIN-BASED SYSTEM IS VARIABLE, THAT COST MAY INCREASE DRAMATICALLY AT ANY TIME, AND THAT COST AND SPEED IS NOT WITHIN THE CAPABILITY OF VERIFIK TO CONTROL. YOU UNDERSTAND THAT PROTOCOL UPGRADES MAY INADVERTENTLY CONTAIN BUGS OR SECURITY VULNERABILITIES THAT MAY RESULT IN LOSS OF FUNCTIONALITY AND ULTIMATELY FUNDS.

YOU UNDERSTAND AND ACCEPT THAT VERIFIK DOES NOT CONTROL ANY BLOCKCHAIN PROTOCOL, NOR DOES VERIFIK CONTROL ANY SMART CONTRACT THAT IS NOT OTHERWISE OFFERED BY VERIFIK AS PART OF THE SERVICES AND IS NOT ITSELF A THIRD PARTY SERVICE. YOU UNDERSTAND AND ACCEPT THAT VERIFIK DOES NOT CONTROL AND IS NOT RESPONSIBLE FOR THE TRANSITION OF ANY BLOCKCHAIN PROTOCOL FROM PROOF OF WORK TO PROOF OF STAKE CONSENSUS OR THE FUNCTIONING OF ANY PROTOCOL AFTER IT UNDERGOES A TECHNICAL UPGRADE. YOU UNDERSTAND AND ACCEPT THAT VERIFIK DOES NOT CONTROL AND IS NOT RESPONSIBLE FOR ANY THIRD PARTY SERVICE. YOU AGREE THAT YOU ALONE, AND NOT VERIFIK, IS RESPONSIBLE FOR ANY TRANSACTIONS THAT YOU ENGAGE IN WITH REGARD TO SUPPORTING ANY BLOCKCHAIN PROTOCOL WHETHER THROUGH TRANSACTION VALIDATION OR OTHERWISE, OR ANY TRANSACTIONS THAT YOU ENGAGE IN WITH ANY THIRD-PARTY-DEVELOPED SMART CONTRACT OR TOKEN, INCLUDING TOKENS THAT WERE CREATED BY A THIRD PARTY FOR THE PURPOSE OF FRAUDULENTLY MISREPRESENTING AFFILIATION WITH ANY BLOCKCHAIN PROJECT. YOU AGREE THAT VERIFIK IS NOT RESPONSIBLE FOR THE REGULATORY STATUS OR TREATMENT IN ANY JURISDICTION OF ANY DIGITAL ASSETS THAT YOU MAY ACCESS OR TRANSACT WITH USING VERIFIK SERVICES. YOU EXPRESSLY ASSUME FULL RESPONSIBILITY FOR ALL OF THE RISKS OF ACCESSING AND USING THE SERVICES TO INTERACT WITH BLOCKCHAIN PROTOCOLS.

Warranty Disclaimer

ZELF WALLET IS PROVIDED "AS IS" AND “AS AVAILABLE”, AND WITHOUT WARRANTY OF ANY KIND. TO THE MAXIMUM EXTENT PERMITTED BY LAW, WE DISCLAIM ALL REPRESENTATIONS AND WARRANTIES, EXPRESS OR IMPLIED, RELATING TO THE SERVICES AND UNDERLYING SOFTWARE OR ANY ASPECT OF THE INFORMATION, CONTENT, OR THE SERVICES, WHETHER PROVIDED OR OWNED BY US, OR BY ANY THIRD PARTY OR CONTAINED IN ANY THIRD PARTY MATERIALS OR ON ANY THIRD PARTY WEBSITES ACCESSIBLE OR LINKED TO OUR WEBSITE OR THE SERVICES, INCLUDING WITHOUT LIMITATION, WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE, NON-INFRINGEMENT, FREEDOM FROM COMPUTER VIRUS, AND ANY IMPLIED WARRANTIES ARISING FROM COURSE OF DEALING, COURSE OF PERFORMANCE, OR USAGE IN TRADE, ALL OF WHICH ARE EXPRESSLY DISCLAIMED. IN ADDITION, WE DO NOT REPRESENT OR WARRANT THAT THE CONTENT ACCESSIBLE VIA THE SERVICES IS ACCURATE, COMPLETE, AVAILABLE, CURRENT, FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS, OR THAT THE RESULTS OF USING THE SERVICES WILL MEET YOUR REQUIREMENTS. WE DO NOT MAKE ANY REPRESENTATIONS OR GIVE WARRANTIES THAT THE ACCESS TO ZELF WALLET OR USE OF THE SERVICES AND THE FUNCTIONALITY THEREOF WILL BE CONTINUOUS, UNINTERRUPTED, TIMELY OR ERROR-FREE. SOME STATES DO NOT ALLOW THE DISCLAIMER OF IMPLIED WARRANTIES, SO THE FOREGOING DISCLAIMERS MAY NOT APPLY TO YOU.

Governing Law

These Terms shall be governed by and construed in accordance with the laws of Wyoming, United States, without regard to its conflict of law provisions.

Contact Information

If you have any questions about these Terms, please contact us at: Email: [e-mail]