The following particular terms and conditions govern access to and use of the service aimed at accessing to decentralized protocols through the Application (the "Particular Terms and Conditions" and the "Service", respectively), through which Users are permitted to send their Virtual Assets to certain computational protocols implemented via self-executing smart contracts that use blockchain technology ("Protocol" or "Protocols") in order to obtain variable and non-guaranteed yields.
These Particular Terms and Conditions form part of the General Terms of Service and the Privacy Policy, which are mandatory and binding, and which the User declares to have read and accepted prior to using the Service. In the event of conflict between the General Terms of Service and these Particular Terms and Conditions, these Particular Terms and Conditions shall prevail. All capitalized terms not defined herein shall have the meaning set forth in the General Terms of Service.
Any User who does not wish to accept these Particular Terms and Conditions must refrain from using the Service.
IMPORTANT NOTICE: THE YIELD DESCRIBED IN THESE PARTICULAR TERMS AND CONDITIONS ARE CONTINGENT, VARIABLE, AND NOT GUARANTEED. THEY DO NOT CONSTITUTE A PROMISE OF PROFITABILITY, INTEREST, OR A FIXED RATE. YIELD ARE NOT PAID BY THE DEVELOPER OR THE ISSUER OF THE VIRTUAL ASSETS, NOR DO THEY DERIVE FROM MERE HOLDING OF SUCH ASSETS. THE PROTOCOLS ARE SUBJECT TO NUMEROUS RISKS, INCLUDING BUT NOT LIMITED TO COUNTERPARTY RISK, CYBERATTACKS, AND THE IRREVERSIBLE TOTAL LOSS OF ALL TRANSFERRED VIRTUAL ASSETS. IF THE USER DOES NOT UNDERSTAND OR ACCEPT THESE RISKS, THEY MUST REFRAIN FROM USING THE SERVICE.
1. FUNCTIONALITY AND SERVICE
The Service allows Application Users to send their Virtual Assets to certain Protocols in order to obtain yield over any period the User considers appropriate, and to withdraw them from those Protocols.
By accepting the Service in the Application, the User expressly accepts, instructs, and authorizes:
The transfer of all Virtual Assets enabled for the Service that are available in their belo Account to the Protocol(s) specified in the Application, in accordance with the procedures and operational timelines established by the Developer, which will be communicated in the Application..
The automatic transfer to those same Protocols of all new Virtual Assets of the enabled type that are credited to the User's belo Account in the future, while the Service remains active for said Virtual Asset. The Service may be enabled or disabled by the User independently for each compatible Virtual Asset. Activation of the Service for a specific Virtual Asset implies authorization to transfer said Virtual Asset to the corresponding Protocol, as well as the automatic transfer of new incoming amounts of that same Virtual Asset while the Service remains active. Deactivation of the Service for a specific Virtual Asset shall not affect the activation of the Service with respect to other Virtual Assets.
In order to use the Services, the User must have certain Virtual Assets compatible with the Protocols available in their belo Account.
By accepting these Particular Terms and Conditions and using the Service, the User instructs the Developer to transfer, on behalf of and at the order of the User, the Virtual Assets to the Protocol(s), and also instructs the automatic transfer to those Protocols of all new Virtual Assets credited to the User's belo Account (the "Transaction").
Once the Particular Terms and Conditions and the Service have been accepted, the Transaction will be executed and the Virtual Assets subject to the Transaction will become associated with the smart contract address of the corresponding Protocol. Accordingly, the User will continue to see the Virtual Assets transferred to the Protocols reflected as their available balance. When the User places an order to use that balance for any operation on the Platform, the Virtual Assets related to that order will be withdrawn from the corresponding Protocol.
It is hereby stated that all Protocols are implemented through Smart Contracts. Accordingly, by accepting the Particular Terms and Conditions, the User acknowledges and accepts that the Protocols are not controlled by the Developer. The Developer's role in relation to the Services consists of depositing and withdrawing from the Protocols, on behalf of and at the order of the User, the Virtual Assets that the User directs.
The Developer does not exercise control over the internal operation of the Protocol or over the yield it generates. These are variable, not guaranteed, and depend exclusively on the dynamics of each Protocol. Therefore, the Developer does not make decisions on its own behalf regarding the User's Virtual Assets, and the User is solely responsible for the results of their Transaction. The User acknowledges and accepts that neither the Developer nor the Application assumes any liability for the operation, risks, or results derived from interaction with said smart contracts or with the specific entities that receive the Virtual Assets.
Accordingly, any estimated yield rate that may be displayed in the Application is for informational purposes only, based on historical or current Protocol data, and does not constitute a promise or guarantee of future yields.
The Developer reserves the right, at any time and at its sole discretion, to replace, add, or discontinue the availability of Protocols in the Application. When such changes entail a material modification to the risk profile of the Service, the Developer will notify affected Users with a minimum advance notice of 10 (ten) days through the Application or by email, during which period the User may withdraw their Virtual Assets from the Protocol at no additional cost from the Developer. In cases of emergency, security concerns, or technical contingency, changes may be applied immediately and without prior notice, provided that the Developer shall ensure that the User is able to withdraw their Virtual Assets as soon as the situation has been stabilized. If the User does not accept the modifications, they must disable the Service from their belo Account.
2. LIMITS AND AVAILABILITY
The deposit and withdrawal of assets to and from the Protocols is subject to their technical and operational availability. The User accepts that there may be minimum or maximum amounts for participation in certain Protocols, which will be duly communicated in the Application.
At any time, the User may instruct the Developer to withdraw the Virtual Assets from the Service. In such case, the Developer shall proceed solely to execute the withdrawal order and, once the corresponding transaction has been executed, will credit to the User's belo Account the balance of Virtual Assets withdrawn from the Protocol, together with any yield, if any, generated by the Protocol as a result of the Transaction.
Once the withdrawal order has been placed, the User will see the balance of Virtual Assets withdrawn from the Protocol credited to their belo Account, specifically: (i) the quantity of Virtual Assets committed to the Transaction; and (ii) any yield, if applicable, accrued up to that point, in accordance with the rules and procedures communicated by the Developer in the Application. The User acknowledges that, given the risk of their Transaction and that it may result in losses, it is possible that upon placing a withdrawal order or disabling the Service, they may receive fewer Virtual Assets than originally held, or no Virtual Assets at all.
The Developer may immediately and without prior notice suspend deposits and withdrawals associated with one or more Protocols upon detecting anomalies, security events, significant drops, or any other circumstance that, at the Developer's discretion, justifies an emergency measure. This right exists to protect the interests of Users and the operational integrity of the Application. The adoption of such a measure shall not give rise to liability on the part of the Developer to the extent that the determining cause is attributable to the operation, failure, or immutability of the decentralized Protocol. The Developer retains, however, its liability for damages arising directly from negligence, lack of skill, or willful misconduct in its own infrastructure or operations. The Developer will endeavor to communicate to affected Users the nature of the event and the status of the Service once the emergency situation has been stabilized.
When the User disables the Service for a particular Virtual Asset, the Developer will proceed to withdraw the corresponding Virtual Assets from the Protocol and credit them to the User's belo Account in accordance with the operational timelines communicated in the Application. Deactivation of the Service for a Virtual Asset does not imply deactivation of the Service with respect to other Virtual Assets that the User may have enabled.
3. FEES
Use of the Service may be subject to fees charged by the Developer and/or the Protocol. Where applicable, the amount and conditions will be communicated in the Application prior to activation of the Service, with an indication of whether they correspond to the Developer or the Protocol.
4. REQUIREMENTS
In order to use the Services, the User must: (i) have an open and validated belo Account; (ii) have the compliance status required by the Developer enabled in their belo Account, in accordance with the verification controls and processes established by the Developer from time to time; (iii) hold the Virtual Asset compatible with the Protocol(s) made available by the Developer for each Virtual Asset for which they wish to activate the Service; and (iv) be informed about the available Protocols, the risks associated with them and with Virtual Assets in general, and the use of smart contracts.
The Developer will establish, at its sole discretion, the rules and conditions under which Users will have access to the Service. Without prejudice to the general requirements set forth above, the Developer may exclude certain categories of users from the Service, including but not limited to: (i) legal entities of any type; and (ii) individuals acting as arbitrators or intermediaries on behalf of third parties. The Developer may expand, modify, or restrict these categories at any time, notifying Users through the Application.
The User acknowledges that the entity providing the Service is the one indicated in the General Terms of Service according to the User's jurisdiction of residence. In particular, for Users in the Argentine Republic, the Service is provided by Belo Argentina S.A., as established in said General Terms of Service.
5. YIELD
The Developer's role consists of depositing into and withdrawing from the Protocols, on behalf of and at the order of the User. Accordingly, while the Virtual Assets are held in a Protocol, the Developer shall have no control over the yield or the conditions of the Transaction, which may vary if the Protocol so permits.
In view of the foregoing, the User accepts that: (i) the Developer and its affiliates are not responsible for any fluctuation in the value of the Virtual Asset and/or the potential yields associated with the Service; and (ii) the Developer and its affiliates bear no liability for any current or future damages or losses arising from the Transactions, unless they are a direct consequence of the Developer's own actions.
The Service does not entail the collection of funds from the public, the custody of legal tender, or the management of assets with a promise of yield. The User transfers Virtual Assets that are their own property to a Protocol, which does not constitute a deposit, a balance in fiat currency, or a liability on the part of the Developer in any jurisdiction.
6. LIABILITY
The User is solely responsible for the decision to activate the Service and for the risks associated with the Protocols. Accordingly, the User represents and understands that they possess the necessary knowledge to use the Services and that they are fully aware of the risks associated with Virtual Assets and Protocols. In this regard, the User accepts that they are solely responsible for becoming informed about the functionalities, rules, applicable yield, and risks of the Protocols available in the Application. The User accepts and understands that they will, as the case may be, receive the gains and bear the losses arising from the Transactions.
Furthermore, the decision to execute a Transaction with specific Virtual Assets in a Protocol depends exclusively on the User, and such decision is made at their own responsibility and risk.
In light of the foregoing, the User accepts that the Developer shall not be liable for:
losses arising from failures in smart contracts or cyberattacks on the Protocols;
the insolvency or malfunction of the Protocols;
any direct or indirect damage resulting from the variation of yield rates or the loss of value of Virtual Assets;
loss or gain of Virtual Assets or situations that prevent access to them, which may result from any action or omission by the User;
any damages suffered by the User or third parties as a result of a Transaction, the Protocols, or any operations carried out through the Services, unless they are a direct consequence of the Developer's own actions.
The limitation of liability set forth in this clause does not exclude or limit the Developer's liability arising from fraud or gross negligence, in those jurisdictions where such exclusion is null and void by operation of applicable local law.
7. INDEMNITY
The Developer shall not be liable for the operation and immutability of the Protocols.
The Developer reserves the right to discontinue support for certain Protocols in the event of: (i) any legal or regulatory change affecting the Services, or at the request of a judicial authority or competent authority, the provision of access to the Protocols; (ii) any conflict that the use of the Service or a Protocol may generate among Users, and the Developer and its affiliates shall not be liable for any damage the User may suffer, except where directly and attributably caused by the Developer's own actions.
8. AMENDMENTS
The Developer reserves the right to modify, alter, or update these Particular Terms and Conditions at any time, including the right to discontinue support for certain Protocols or to modify the manner in which yield are presented, applying for that purpose the provisions of the General Terms and Conditions.