These terms and conditions and any terms expressly incorporated herein (the “Terms”) govern access to and use of all parts of the platform, branded as LFi Platform (“LFi", “We”, “Our”, “Us”) and referring to the domain https://lfi.io/ (the “Platform”) and all documents, data, materials or other information made available on the Platform.
These Terms explain how the user (“User”, “you” or “your”) may use our LFi Platform and any of its content. You shall read these Terms carefully before using our Platform. By using or accessing the Platform, you agree to be bound by these Terms which will form a binding contract between us and you. If you do not agree with any of these Terms, you should stop using the Platform immediately.
By utilizing our Platform and its functionalities, you explicitly acknowledge and accept the potential risks linked to digital assets and derivatives. LFi holds no responsibility for any adverse outcomes resulting from your Platform usage. Your use of the Platform signifies your comprehension, and acceptance of these Terms, and our Privacy & Cookie Policy, which are deemed to be incorporated into this Agreement by reference.
These Terms may be made available in several languages; all versions are legally binding, but in the event of inconsistency between the English version and a translated version, the English version prevails.
Definition
1.1 “Blockchain ID” is an intermediary platform that operates as a unified sign-on system enabling Users to access third-party services (“Partner Websites”) offered on its platform, which encompasses platforms such as Blockchain Era, and the LFI platform.
1.2 “Account” means the account created on the Blockchain ID to use the services offered by the LFi Platform.
1.3 “License” is a grant of LFi as a holder of Intellectual property rights to the User to use products and services of the LFi Platform and is issued in the form of non-fungible tokens (NFTs). The Users shall acquire this License exclusively using EURfi in our LFi Platform.
1.4 “Partner Website” pertains to 'The Blockchain Era platform,' and it denotes the platform through which LFi offers rewards, benefits, or any applicable commission services to Users, all of which shall be governed by the terms and policies set forth by 'The Blockchain Era.'
1.5 “LFi Token” refers to the native token of the Platform.
1.6 “Internal Virtual Points” means that the LFi Platform encompasses various Internal Virtual Points integral to the LFi Platform, such as EURfi, EURfi PROMO, EURfi-W, EURfi-C, cLFi, cLFi-R, cLFi-W, and ScLFi. These Internal Virtual Points are utilized exclusively within the LFi Platform for the purposes of accessing, utilizing, and enhancing the array of services, products, and features available.
1.6.1 “EURfi” refers to the internal virtual point provided in the Platform and rewards. The value of 1 EURfi is equal to one (1) Euro.
1.6.2 “cLFi” refers to the collateral that is mandatory for the Minting of the LFi tokens.
1.6.3 “ScLFi” refers to staked cLFi.
1.6.4 “EURfi PROMO” refers to the internal virtual point provided on the Platform. The value of EURfi PROMO is equal to one (1) Euro.
1.6.5 “EURfi-W” refers to the internal virtual point provided on the Platform. The value of EURfi-W is equal to one (1) Euro.
1.6.6 “EURfi-C” refers to the internal virtual point provided on the Platform. The value of EURfi-C is equal to one (1) Euro.
1.6.7 “cLFi Wallet MATIC” refers to the cLFi token that the users deposit onto the Platform from external exchanges.
1.6.8 “cLFi-R” refers to the tokens given to the users for Minting. The value of cLFi-R is equal to cLFi.
1.6.9 “cLFi-W” refers to the tokens given to the users for Minting. The value of cLFi-W is equal to the value of cLFi traded on listed exchanges.
1.6.10 “CLFi - D” refers to the tokens given to the users for Minting. The value of cLFi-D is equal to the value of cLFi traded on listed exchanges.
1.7. “License” is a grant of LFi as a holder of Intellectual property rights to the User to use products and services of the LFi Platform and is issued in the form of non-fungible tokens (NFTs). The Users shall acquire this License exclusively using EURfi in our LFi Platform."
Eligibility
2.1 User refers to either a natural person who is at least 18 years of age, possessing legal capacity and the requisite authority to agree to these Terms, or a legal entity with the necessary authorization to enter into these Terms.
Account Login
3.1 Upon clicking the 'Login' button on our Platform, Users will be directed to the Blockchain ID authentication page to initiate the Account establishment process. This process necessitates completing the registration procedure on Blockchain ID, which entails undergoing a designated onboarding process aimed at streamlining internal verification. This entails creating a secure password and providing consent to adhere to the specific Terms, Privacy Policy, and any supplementary regulations specified by Blockchain ID.
Know Your Client (KYC) Voucher
4.1 LFi facilitates the opportunity for Users who do not wish to purchase a new product to access Blockchain ID verification by offering a voucher option. This voucher holds a value of 49 EURO and can be utilized by the User to gain the necessary access to our Blockchain ID verification service. User agrees and acknowledges that the decision, whether to purchase a voucher for Blockchain ID verification or not, shall be the sole discretion of the User.
Services
5.1 Shop
5.1.1 LFi facilitates the Shop features on the Platform, where the User may engage in purchasing products and making payments. Users have the option to make payments using various methods, including EURfi BALANCE, cLFi UPGRADE BALANCE (rebuy), and EURfi PROMO. Additionally, the User has the flexibility of utilizing a Combination payment method, wherein multiple currencies can be employed for payment. It is important to note that the commission points and volume points associated with Combination payments will be adjusted accordingly at the sole discretion of the LFi. To identify the applicable currencies accepted on our Platform, please visit http://app.lfi.io/. In addition, for detailed information regarding payment methods and applicable Commission points, please refer to http://app.lfi.io/.
5.2 Cloud X Minting
5.2.1 LFi facilitates Cloud X Minting. Further details about the Cloud X Minting process and features are available in our Cloud X Minting terms and conditions which can be found here <insert link> and are binding upon the use of such Cloud X Minting services.
5.2.2 You acknowledge and accept that your participation in Cloud X Minting is at your own risk, and you will do so in accordance with these Terms and any others that apply.
5.2.3 All Disclaimers mentioned in this clause and the Assumption of Risk clause are particularly prominent for your engagement in Cloud X Minting, by virtue of participation you are explicitly acknowledging and agreeing to the specific terms and conditions of Cloud X Minting.
5.3 License and Minters
5.3.1 The Platform facilitates the management of User Accounts, offering the ability to handle multiple User Accounts, each linked to a distinct Minter ID.
5.3.2 Users can possess multiple Minters, with each Minter capable of connecting to one or more NFT Licenses.
5.3.3 NFT License Purchasing: Users shall acquire EURfi using BTC and USDT, enabling the purchase of NFT Licenses from the Platform. The conversion rate is 1 EURfi equivalent to 1 EURO.
5.3.4 The NFT Licenses owned by the User shall have two types of distinctions such as (i) Active (All the NFT Licenses that have staked cLFI), (ii) Inactive (All the NFT Licenses in the account that do not have any ScLFI staked). In order to read more details about the individual-related NFT Licenses, such as type, number of NFTs, and associated statistics, are provided upon NFT License acquisition. Please refer to the “My License” option < [insert link]>.
5.3.5 Licenses generate rewards in cLFi tokens, with rewards split into cLFi-R and cLFi-W categories. In order to access the rewards available on the Platform please refer to the Blockchain Era platform terms and conditions by clicking on [Insert Link].
5.3.6 Auto Restake Feature: If the global Auto Restake feature is not disabled, each NFT License card will incorporate an 'Auto Restake’ toggle button, enabling Users to activate or deactivate Auto Restakeing specifically for that NFT License. In the event, that a User's NFT License is fully staked, generated rewards shall be transferred to the User’s wallet, regardless of the User's active Auto Restake option. In such instances, the Auto Restake functionality for the corresponding NFT License will be automatically turned off.
5.3.7 Minter Linking Timeframe: Following NFT License acquisition, Users have a Hundred Twenty (120) day window starting from the purchase date and time to associate a Minter with the NFT License. Failure to link a Minter within this initial Hundred and Twenty (120) days period will result in the User's inability to subsequently link a Minter for the entire duration of that NFT License's lifespan. To assist Users, a countdown timer will be prominently displayed, indicating the remaining time to link a Minter.
5.3.8 Attachment cLFi Process: The User shall have the option to attach collateral by clicking the 'Add Collateral' button, which prompts the appearance of a pop-up window. Within this pop-up, Users may specify the amount of CLFi - D available in their wallet, intending to use it as collateral for the NFT license. For initial collateral attachments, the pop-up will guide Users through the selection of a lockup period for the CLFi - D collateral, presenting options 12 months, and 24 months. During the collateral addition process, Users will have the opportunity to review the Minting reward associated with each lockup period, recognizing that Minting reward generally escalate with extended lockup durations. In the event of pre-existing collateral, newly added collateral will automatically adopt the lockup period chosen by the User in the previous instance.
5.3.9 The User shall acknowledge that upon attaching CLFi - D as collateral, the corresponding cLFi-D will be transformed into ScLFi, symbolizing the staked quantity. This conversion shall result in a proportional increment to the User's ScLFi balance. Further, by attaching collateral, the User shall witness an elevation in their minting power, ultimately enabling them to earn enhanced rewards.
5.3.10 Please refer to [insert link] to view the details of rewards from the activated NFT License.
5.3.11 In order to view the graphs and stats for total rewards, breakdown of rewards in cLFi - R and cLFi - W tokens, total staked ScLFi, and the number of NfT Licenses, please click on [insert link].
5.4 Rewards, benefits, and commissions
5.4.1 Access to any rewards, benefits, or commissions associated with any of our LFi Services shall be exclusively available through our Partner Website. For additional details regarding these rewards, benefits, and commissions, if applicable, please refer to the following link [insert link].
5.5 The services mentioned above shall be collectively referred to as the “Services”.
Year Activation Fee Structure for License
6.1 Upon your initial purchase of the NFT License, irrespective of the products you select, you hereby agree and acknowledge that an additional charge of 29 EUR will be imposed as an activation fee. This fee constitutes a one-time and non-recurring charge, distinct from the prices of the products.
6.2 Following the completion of one full calendar year from the date of the initial purchase, maintaining an active NFT License is deemed obligatory to retain continuous access to the Platform.
6.3 In the event you possess fewer than two direct NFT Licenses, a mandatory annual fee of 29 EUR will be applicable for each NFT License held.
6.4 Regardless of where you opt for the Leader Fee, an annual payment of 99 EUR shall be applied, regardless of the number of direct NFT Licenses you hold.
Using the Platform
7.1 The Platform is for your personal use only. You agree that you are solely responsible for all costs and expenses you may incur in relation to your use of the Platform.
7.2 We make no representations or warranties that the Platform is available for use in any particular location. The Platform may not be available in certain geographic locations due to legal or regulatory restrictions, or any other reasons. You are responsible for complying with all applicable laws and regulations in your use of the Platform, and you understand that access to the Platform may not be legal in some jurisdictions. By accessing or using the Platform, you do so at your own initiative and risk, and you are solely responsible for compliance with any applicable laws, rules, and regulations.
Rules and Conduct
8.1. As a condition of your use of the Platform, you agree not to:
8.1.1 misuse or attack our Platform by knowingly introducing viruses, trojans, worms, logic bombs, or any other material that is malicious or technologically harmful (such as by way of a denial-of-service attack);
8.1.2 post false, inaccurate, misleading, defamatory, unlawful, harassing, libelous, privacy-invading, abusive, threatening, harmful, vulgar, obscene, or otherwise objectionable content on our Platform through/on our Services;
8.1.3 use, copy, reproduce, modify, translate, publish, broadcast, transmit, distribute, perform, upload, display, license, sell, or otherwise exploit for any purpose any content of the Platform not owned by you in a way that violates someone else’s rights;
8.1.4 conduct illicit transactions and holding a wallet that has any direct or indirect links and exposure to any sanctions, terrorist financing, child abuse, scam, fraud, or fraud service categories and/or hops; or
8.1.5 attempt to gain unauthorized access to our Platform, the server on which our Platform is stored, or any server, computer, or database connected to our Platform.
8.2 We reserve the right at our sole discretion, to limit your access to the services (or to its certain functions) or to fully terminate your access in case of repeated breach of these Terms or to take other measures to ensure compliance with applicable law or protection of third-party rights and interests.
Your privacy and personal information
9.1 Your privacy and personal information are important to us. Any personal information that you provide to us will be dealt with in line with our Privacy & Cookie Policy, which explains what personal information we collect from you, how and why we collect, store, use, and share such information, your rights in relation to your personal information and how to contact us and supervisory authorities in the event you have a query or complaint about the use of your personal information.
9.2 By using our services, you acknowledge and agree that you are bound by our privacy policy, cookie policy, as well as the terms and conditions of the Blockchain ID and any partner websites affiliated with our services. These policies collectively govern your interactions with our Platform, ensuring your understanding and compliance with our privacy practices and associated terms.
Links to other third-party websites
10.1 The Platform may contain links to third-party websites or services that are not owned or controlled by us. We have no control over, and we assume no responsibility for, the information, content, privacy policies, or practices of any third-party websites or services. You further acknowledge and agree that we shall not be responsible or liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any such information, content, goods, or services available on or through any such third-party websites.
Disclaimers
11.1 These Terms shall not and cannot be considered as an invitation to enter into an investment or sale of any financial instruments.
11.2 There is a risk that in some jurisdictions, some of the tokens or NFTs offered on LFi may be considered as a security now or in the future. LFi does not give warranties or guarantees that all offered tokens may not be considered securities in all jurisdictions.
11.3 The LFi Tokens, including their associated Internal Virtual Points, possess no intrinsic value beyond their utility within the LFi Platform and do not confer any ownership, equity, or entitlements within LFi or its affiliated entities. Furthermore, Tokens and the Internal Virtual Points are not intended for use as a medium of exchange outside the LFi Platform and hold no monetary or legal value beyond the Platform's boundaries.
11.4 Each User of LFi shall bear its own legal or financial consequences of their tokens or NFTs sold on LFi or Partner Websites being considered a security in their respective jurisdiction.
11.5 There is a risk that we may be temporarily or permanently unable to provide access to the Platform and thus also to the Services. The Platform is provided “as is” and “as available”. We and our Partner Website, expressly disclaim all representations or warranties of any kind, whether express, implied, statutory, or otherwise about the Platform and Services, including, without limitation, any implied warranties of merchantability, fitness for a particular purpose, non-infringement or course of performance.
11.6 LFi does not warrant that (i) the Platform will function uninterrupted, secure, or available at any particular time or location, or will be error-free or free of harmful components; (ii) any errors or defects will be corrected; (iii) the Platform is free of viruses or other harmful components; (iv) any content and data, including your data, will be secure or not otherwise lost or damaged; (v) the results that may be obtained from the use of the Services will be accurate or reliable; or (vi) the results of using the Platform will meet your requirements or expectations.
11.7 YOUR USE OF THE PLATFORM AND ITS CONTENT IS AT YOUR SOLE RISK. Upgrades and modifications to the protocol are managed in a community-driven way by holders of the LFi Token. Subject to the applicable laws, no developer or entity involved in creating the LFi will be liable for any claims or damages whatsoever associated with your use, inability to use, or your interaction with other Users of the Platform, including any direct, indirect, incidental, special, exemplary, punitive or consequential damages, or loss of profits, cryptocurrencies, tokens, digital assets or anything else of value.
Assumption of Risk
12.1 By accessing or using any LFi Services, you are voluntarily choosing to engage in sophisticated and risky asset exchanges and transactions. You are further acknowledging that you are aware of the many risks associated with the use of these Services and with engaging in transactions in cryptocurrencies, including, but not limited to, risks of financial loss, technology glitches (including, but not limited to, problems with the blockchain technology), and hacking. We work hard to provide state-of-the-art systems and security. Nonetheless, certain issues and risks are unavoidable, and if such issues or problems arise in connection with your use of our Platform, including technical difficulties with depositing or trading cryptocurrencies, it may take days, weeks, or months to resolve, and some issues may not be resolved at all. By agreeing to these Terms, you acknowledge that LFi is not responsible for the aforementioned risks, and you voluntarily assume and accept such risks in deciding to engage in cryptocurrency transactions on our Platform.
12.2 You assume the risks of engaging in transactions that rely on smart contracts and other experimental technology. Transactions may rely on smart contracts stored on various blockchains, cryptographic tokens generated by the smart contracts, and other nascent software, applications, and systems that interact with blockchain-based networks. These technologies are experimental, speculative, inherently risky, and subject to change. You agree and acknowledge that Lfi will not be liable for any such adversities.
12.3 Among other risks, bugs, malfunctions, cyberattacks, or changes to the applicable blockchain (e.g., forks) could disrupt these technologies and even result in a total loss of digital assets, their market value, or digital funds. You are solely responsible for the safekeeping of the private key associated with the blockchain address used to interact with the Platform. We assume no liability or responsibility for any such risks. If you are not comfortable assuming these risks, you should not access or engage in transactions using blockchain-based technology.
12.4 You agree to the automated collection and disbursement of proceeds by smart contracts. You acknowledge and agree that all transactions accessed through the Services will be automatically processed using one or more blockchain-based smart contracts. By engaging in transactions using the Services, you acknowledge and consent to the automatic processing of all transactions in connection with using the Services. You further acknowledge and agree that the applicable smart contract will dictate how the funds of a transaction and ownership of digital assets are distributed.
12.5 You bear sole responsibility for evaluating the Services before using them, and all transactions accessed through the Services are irreversible, final, and without refunds. The Services may be disabled, disrupted, or adversely impacted as a result of sophisticated cyber-attacks, surges in activity, computer viruses, and/or other operational or technical challenges, among other things. We disclaim any ongoing obligation to notify you of all of the potential risks of using and accessing our Services. You agree to accept these risks and agree that you will not seek to hold LFi responsible for any consequent losses.
12.6 You are solely responsible for the security of your wallet. You understand and agree that you are solely responsible for maintaining the security of your wallet. Any unauthorized access to your wallet by third parties could result in the loss or theft of any digital asset, or any funds held in your account and any associated accounts. You understand and agree that we have no involvement in, and you will not hold us responsible for managing and maintaining the security of your wallet. You further understand and agree that we are not responsible, and you will not hold us accountable, for any unauthorized access to your wallet. Ultimately, it is your responsibility to monitor your Wallet.
12.7 We assume no liability or responsibility for any such risks mentioned. If you are not comfortable assuming these risks, you should not access or engage in transactions using blockchain-based technology.
Ownership, use, and intellectual property rights
13.1 The intellectual property rights in the Platform and in any text, images, video, audio, or other multimedia provisions, software, or other information or material submitted to or accessible from the Platform (Provisions) are owned by us and our licensors.
13.2 We and our licensors reserve all our intellectual property rights (including, but not limited to, all copyright, trademarks, domain names, design rights, database rights, patents, and all other intellectual property rights of any kind) whether registered or unregistered anywhere in the world. This means, for example, that we remain owners of them and are free to use them as we see fit.
13.3 Nothing in these Terms grants you any legal rights in the Platform or the Provisions other than as necessary for you to access it. You agree not to adjust, try to circumvent, or delete any notices contained on the Platform or the Provisions (including any intellectual property notices) and in particular, in any digital rights or other security technology embedded or contained within the Platform or the Provisions.
Accuracy of information and availability of the Platform
14.1 We try to make sure that the Platform is accurate, up-to-date, and free from bugs, but we shall not be responsible for any failure where such failure is due to causes beyond our control. Furthermore, we cannot promise that the Platform will be fit or suitable for any purpose. Any reliance that you may place on the information on the Platform is at your own risk.
14.2 We may suspend or terminate access or operation of the Platform at any time as we see fit.
14.3 Any content is provided for your general information purposes only and to inform you about us and our products and news, features, services, and other third-party websites that may be of interest, but have not been tailored to your specific requirements or circumstances. It does not constitute technical, financial, or legal advice or any other type of advice and should not be relied on for any purposes. You should always use your own independent judgment when using our Platform and its content.
14.4 While we try to make sure that the Platform is available for your use, we do not promise that the Platform will be available at all times or that your use of the Platform will be uninterrupted.
Hyperlinks and third-party Platforms
14.1 The Platform may contain hyperlinks or references to third-party advertising and Partner Websites other than the Platform. Any such hyperlinks or references are provided for your convenience only. We have no control over third-party advertising or Partner websites and accept no legal responsibility for any content, material, or information contained in them. The display of any hyperlink and reference to any third-party advertising or Partner Websites does not mean that we endorse that third party’s websites, products, or services. Your use of a third-party Platform may be governed by the terms and conditions of that third-party platform and is at your own risk.
Limitation of Liability
15.1 We are not liable to you for any loss or damage that was not foreseeable, any loss or damage not caused by our breach or negligence, or any financial loss or damage as a result of your engagement in the Platform. Nothing in these terms excludes or limits our liability for any death or personal injury caused by our negligence, liability for fraud or fraudulent misrepresentation, or any other liability that the law does not allow us to exclude or limit.
Limitation of Liability
16.1 We are not liable to you for any loss or damage that was not foreseeable, any loss or damage not caused by our breach or negligence, or any financial loss or damage as a result of your engagement in the Platform. Nothing in these terms excludes or limits our liability for any death or personal injury caused by our negligence, liability for fraud or fraudulent misrepresentation, or any other liability that the law does not allow us to exclude or limit.
Force Majeure
17.1 We shall not be held liable if we fail to comply with these Terms due to circumstances beyond our reasonable control, including but not limited to the provisions outlined in this clause. In no event shall LFi be responsible for inaccuracies, errors, delays, omissions, service disruptions, or interruptions in the Services, whether in transmission or delivery of information as required by these Terms. Such circumstances include but are not limited to, forces beyond the reasonable control of the LFi, such as acts of God, governmental actions, acts of terrorism, war, fires, disruptions in telecommunications or internet services, network provider issues, software malfunctions, network-wide compromises, hacking, strikes, labor disputes, accidents, civil or military disturbances, or other catastrophic events.
No third-party rights
18.1 No one other than us or you has any right to enforce any of these Terms.
Modification
19.1 We are continuously working to develop and enhance our Platform and Services. We reserve ourselves the discretion to amend, limit access to, or terminate any of the functionalities and Services on the Platform. We reserve the right to unilaterally, at any time without notice, amend or update these Terms. Your continued use of our Platform and Services after any such modifications shall constitute your acceptance of the modified Terms.
Dispute Resolution
20.1 We will try to resolve any disputes with you quickly and efficiently. If you would like to raise a complaint with us, please contact us as soon as possible at support@app.lfi.io.
Governing Law
21.1 The laws of the British Virgin Islands [BVI] apply to these Terms. Any dispute arising out of or in connection with these Terms shall be subject to the exclusive jurisdiction of the BVI courts.
Contact Us
In the event of any comments, questions, inquiries, or complaints regarding this Terms, the User has the right to submit questions and/or concerns to info support@app.lfi.io