Terms & Conditions
Please review the terms of service contained herein carefully. By clicking “I agree” or accessing and/or using any of the Services provided by Liyam, You have read, understood, and accepted all of the following Terms, as well as all of the terms which are incorporated herein by reference.
1. RIGHTS AND OBLIGATIONS
The following terms and conditions (the “Terms”) constitute a binding agreement between Liyam Company, a limited company registered under the laws of
all such services referred to as the “Services”.
By accessing and/or using the Services, You have read, understood, and accepted all of the following Terms and agree to be legally bound by these Terms, in their most recent version; You further represent and warrant that: (i) You are of legal age to enter into a binding agreement; and (ii) if You represent a corporation, governmental organization or other legal entity, You have the right, power and authority to enter into these Terms on behalf of such corporation, governmental organization or other legal entity and to legally bind it to these Terms.
Your access and/or use of the Services is contingent upon Your acceptance of these Terms.
Liyam may amend these Terms at any time. Amendments will be effective 14 (fourteen) days after the modified terms and conditions have been posted on Liyam’s website at https://Liyamtoken.com or on Liyam’s and Liyam Germany’s Android and iOS mobile apps, except for amendments that relate to new features or made for legal reasons, which will become effective immediately. If You do not agree to such modified terms, You should discontinue Your use of the Services.
1. THE WALLET
Liyam Switzerland enables You to create one or more digital multi-signature, non-custodial, cryptocurrency wallets for certain supported cryptocurrencies and digital assets (the “Wallet”) that lets You store, send, request and receive supported cryptocurrencies and digital assets. All transactions requested and/or made through the Wallet are irreversible.
The Wallet is not and shall not be deemed as an account where Liyam or other third parties serve as custodians of Your cryptocurrencies or digital assets.
The Wallet is only for use with Ether (ETH) and with any other cryptocurrencies or digital assets that Liyam may explicitly decide to support in the future at its sole discretion. Liyam has no obligation to support any cryptocurrencies or digital assets (including but not limited to any forkcoins, altcoins, airdrops or any other cryptocurrencies or digital assets, however named). Liyam takes no responsibility or liability in connection with any attempt to use Your Wallet for cryptocurrencies or digital assets other than the supported cryptocurrencies and digital assets.
By accessing and/or using the Services, You acknowledge and agree that neither Liyam can guarantee the confirmation of any transaction on any blockchain network. Liyam has no control over any blockchain network.
While the Wallet has undergone beta testing and continues to be improved through feedback from its users, Liyam cannot guarantee that there will be no errors and/or bugs in the functioning of the Wallet.
Liyam provides You with the means to secure Your Wallet and help ensure You, and only You, are able to access and transact through Your Wallet, including mnemonics, personal identification numbers (PINs) and private key pairs. Liyam does not store or have access to Your mnemonics, PINs or private key pairs. You shall be solely responsible for safekeeping Your mnemonics, PINs, private key pairs, and any other means of authentication You use to access Your Wallet. If You lose such means of authentication, Liyam has no way to recover them for You. As a consequence of such loss, You may permanently lose access to any cryptocurrencies or digital assets You have stored in Your Wallet.
2. THE EXCHANGER
Liyam enables You to access a hybrid trading platform (the “Exchanger”) that lets You trade cryptocurrencies and digital assets directly with other users.
The Exchanger is only for use with Ether (ETH) and with any other cryptocurrencies or digital assets that may explicitly decide to support in the future at its sole discretion. Liyam has no obligation to support any cryptocurrencies or digital assets (including but not limited to any forkcoins, altcoins, airdrops or any other cryptocurrencies or digital assets, however named). Liyam takes no responsibility or liability in connection with any attempt to use the Exchanger for cryptocurrencies or digital assets other than the supported cryptocurrencies and digital assets.
By accessing and/or using the Services, You acknowledge and agree that Liyam does not hold Your funds nor offer refunds. You shall be solely responsible for Your own funds and accounts. Liyam takes no responsibility for decisions, actions or losses resulting from Your use of the Exchanger, including losses due to the decrease in value of cryptocurrencies and digital assets purchased and/or sold through the Exchanger. You shall be solely responsible for Your understanding of the details and mechanics of the cryptocurrencies and digital assets You trade using the Exchanger as well as for Your own trading decisions. Liyam makes no representations and warranties and offer no guarantees of any kind, whether express or implied, about the cryptocurrencies and digital assets that You trade using the Exchanger.
While the information contained on the Exchanger is periodically updated, no guarantee is given that the information provided on the Exchanger is correct, complete, or up-to-date.
Liyam charges a transaction fee in Lyth tokens for both parties involved in a transaction on the Exchanger. The current transaction fees applied are shown on the Liyam internet site. By agreeing to these Terms, You agree to these transaction fees. You further acknowledge that all transactions on the Ethereum blockchain are subject to a network fee (Gas) in Ether (ETH). To record transactions on the blockchain, therefore, You shall maintain a sufficient amount of Ether (ETH). In some cases, at the sole discretion of Liyam, a transaction could take place without any fee in LYTH tokens and with Liyam covering the Gas network fee.
By accessing and/or using the Services, You acknowledge and agree that Liyam cannot guarantee the confirmation of any transaction on any blockchain network. Liyam has no control over any blockchain network.
By accessing and/or using the Services, You acknowledge and agree that Liyam does not acts or serves as Your broker, intermediary, agent, or advisor with respect to any action (including refraining from any action) You make or intend to make using the Exchanger. Liyam owes You no fiduciary duty.
The Exchanger is currently undergoing beta testing; therefore, Liyam cannot guarantee that there will be no errors and/or bugs in the functioning of the Exchanger.
3. THE DEBIT CARD
Liyam may partner with third-party providers to enable you to use a physical and/or virtual debit card (the “Liyam Card”) linked to your Wallet. Your use of the Liyam Card is subject to all applicable terms and conditions set out by such third-party provider.
4. THE CASHBACK
Upon your subscription of the debit card Services and in connection with certain physical and virtual card payments You perform with your Liyam Card with eligible merchants, Liyam has the right (but not the obligation) to credit on your Wallet an amount of LYTH tokens equivalent to a percentage of your payment (the “Cashback”).
The percentage of the Cashback that You may receive depends on the amount of LYTH tokens staked on your Wallet. Upon staking, You shall not be entitled to transfer such staked LYTH tokens from your Wallet for a period of one year from subscription of the Cashback Service. After this period you can unlock the token at the first request by losing at the same time the cashback rights. You further acknowledge and agree that, upon subscription of the basic plan, Liyam will burn 100 LYTH tokens therefore this will not count towards the amount of LYTH tokens You need to stake in order to be eligible to receive the Cashback.
Liyam reserves the right to change the percentage of the Cashback rates set out above at any time for any reason, including the currency or the country you make the payment in or the merchant you make the payment to.
You can check your Cashback balance at any time by accessing your Wallet.
Liyam reserves the right to change/correct the balance of the Cashback amount credited on your Wallet at any time in case of calculation errors or mistakes.
In case: (i) the payment to which the Cashback relates was refunded to You; (ii) the Cashback was earned fraudulently; or (iii) the Cashback was earned in breach of these Terms, You shall be liable for the refund of such Cashback amount to Liyam and Liyam may then exercise any right of set-off against any amount owed to You by Liyam and/or take legal actions to recover such amount from You.
Liyam shall not pay you any Cashback when so doing would breach any law or regulation applicable to Liyam, or if the payment you make with your Liyam Card is to another account or payment card (such as a bank account, credit card or a e-wallet). Liyam reserves the right to change the type of payments that do not qualify for a Cashback at any time for any reason.
In case You unsubscribe from the Cashback Service at any time, any Cashback amount You collected will definitively expire and will not be paid out to You.
5. ANTI MONEY LAUNDERING AND COUNTER TERRORIST FINANCING
Decentralized services, such as the Services, are currently excluded by law from any identification duty. However, the legal environment is still under development. Regulatory authorities are carefully scrutinizing businesses and operations associated with cryptocurrencies in the world. Liyam’s business model may change because of new legal, regulatory and compliance requirements from any applicable laws in any jurisdiction, even with retroactive effect, especially for KYC (Know Your Customer) and Anti Money Laundering (AML) laws and regulations.
In such a case Liyam is committed to applying the AML legislation providing You with safe, compliant, and reputable service. This includes monitoring of suspicious transactions and mandatory reporting to the supervisory authorities. In addition, pursuant to the AML rules, Liyam shall keep certain information and documentation on file for a period of ten years after the termination of the relevant business relationship or from the completion of the relevant transaction.
In such a case Liyam will ask, verify, and record information identifying any person accessing and/or using one or both Services according to the applicable legal requirements. Therefore, to access and/or use of certain Services You may have to follow a KYC (Know Your Customer) process in order to verify Your identity. In such a case Liyam will ask You to obtain an Liyam Identity, where you have to provide true, current and complete information about Yourself. If You are a representative of a corporation, governmental organization or other legal entity, You must prove that You have the right, power and authority to enter into these Terms on behalf of the corporation, governmental organization or other legal entity and to legally bind it to these Terms.
In addition, Liyam may require You to provide documentation to verify the information You have submitted to Liyam including, without limitation, an identification card or a passport, a utility bill, a bank statement or any document proving Your identity issued by a governmental body.
Moreover, Your access and/or use of the Services is subject to international economic sanctions requirements. By accessing and/or using the Services, You agree that You will comply with those requirements. In particular, You shall not access and/or use the Services if: (1) You are in, under the control of, or a national or resident of a country subject to United States embargo or UN sanctions (a “Sanctioned Country“), or if You are a person on the sanctions/embargoes list published by the Germanys State Secretariat for Economic Affairs (a “Sanctioned Person“); or (2) You intend to supply any cryptocurrencies or digital assets to a Sanctioned Country (or a national or resident of a Sanctioned Country) or Sanctioned Person.
6. SERVICE LIMITATIONS AND MODIFICATIONS
Liyam will make reasonable efforts to keep the Services operational. However, certain technical difficulties or maintenance may, from time to time, result in temporary interruptions. To the extent permissible under applicable law, Liyam reserves the right, periodically and at any time, to modify or discontinue, temporarily or permanently, functions and features of the Services, with or without notice, without liability to You, for any interruption, modification, or discontinuation of the Services or any function or feature thereof.
7. KNOWLEDGE REQUIRED
By accessing and/or using the Services, You represent and warrant that (i) You fully understand and have significant experience of cryptocurrencies, digital assets, blockchain systems and services, and (ii) You fully understand the risks associated with the trading of cryptocurrencies and digital assets as well as the mechanics related to the use of such cryptocurrencies and digital assets (including with respect to their storage and exchange).
By accessing and/or using the Services, You acknowledge that trading markets are extremely volatile and shift quickly in terms of liquidity, market depth, and trading dynamics. There is no guarantee against losses for accessing and/or using the Services. By accessing and/or using the Services, You represent and warrant that You are not entering into transactions that are above Your financial abilities. Also, cryptocurrencies and digital assets are not suitable for people without the relevant knowledge and/or experience. By accessing and/or using the Services, You further represent and guarantee that You are aware of the risks related to cryptocurrencies and digital assets, for which You are solely responsible and liable.
8. INTELLECTUAL PROPERTY RIGHTS
You acknowledge and agree that the Services are the property of Liyam or its licensors. Subject to Your compliance with these Terms, Liyam grants You a limited right to access and/or use the Services. The right to access and/or use the Services is a non-exclusive, non-transferable, revocable, limited licence, and it is subject to the limitations and obligations contained herein. Nothing in these Terms gives You any licence (other than as set out in this section), right, title, or ownership of, in, or to any of the Services.
You acknowledge and agree that Liyam retains all rights, title, and interest in and to all copyrights, trademarks, trade secrets, patents, and any other proprietary rights in the Services, the software and application programming interfaces (APIs) comprising the Services, and all content therein. You acknowledge and agree that “Liyam”, its trademark, service mark, logo and graphics are the registered trademarks or trademarks of Liyam.
9. DATA PROTECTION
However, in general, Liyam will ask your permission through the Liyam Identity service before transferring your personal information to other group entities.
Liyam may terminate these Terms or suspend Your access to the Services at any time, including, without limitation, in the event of Your alleged or actual misuse of the Services or breach of these Terms.
11. LIMITATION OF LIABILITY
Liyam is anyhow allowed to accept deposits in fiat money up to a maximum of CHF 1 Million. Liyam may accept an overall amount higher than this amount if the Client will execute the Transaction right after the deposit. In both cases, Liyam’s custodial activity is not object of the deposit protection guarantee accorded by the Germanys Banking Act.
In no event will Liyam, its officers, shareholders, employees, agents, directors, subsidiaries, affiliates, successors, assigns, suppliers, or licensors be liable for any loss or damages, including without limitation, direct, indirect, special, consequential, or punitive loss or damages, arising from or related to Your use of the Services, whether in an action of contract, tort or otherwise, and regardless of whether such damages were foreseeable and whether or not Liyam was advised of the possibility of such damages.
Without limiting the generality of the foregoing, Liyam takes no responsibility for and will not be liable for any financial or other loss or damages arising from or related to the use of the Services, including, without limitation, to any of the following: (i) loss of or inability to access or transact data, cryptocurrencies or digital assets; (ii) technical failure, malfunction or shutdown; (iii) server failure, hacks or unavailability; (iv) data loss; (v) stolen, lost, or unauthorized use of Your means of authorization; (vi) errors calculating network fees; (vii) corrupted data on Liyam’s servers; (viii) incorrectly constructed transactions or mistyped wallet addresses; (ix) failure to update or provide correct information; (x) “phishing” or other websites masquerading as Liyam; (xi) delays, interruption or loss of services; (xii) loss of business or goodwill.
The Services support or are integrated with third party services. Liyam takes no responsibility for any third party services and will not be liable for any loss or damages caused by such third party services.
The Services are provided on an “as is” and “as available” basis without any representation or warranty of any kind, whether express or implied, to the maximum extent permitted by applicable laws. Liyam disclaims any implied warranties of title, merchantability, fitness for a particular purpose and/or non-infringement.
By accessing and/or using the Services, You acknowledge and agree that You shall not use the Services if applicable laws, based on Your country of location, residency and/or citizenship, prohibit You from doing so in accordance with these Terms.
By accessing and/or using the Services, You acknowledge and agree that You shall not use, or assist third parties to use, the Services any way which may constitute a contravention of applicable laws or which may contradict the purposes or hinder the operations of the Services or hinder the operations of other users of the Services.
Without limitation to the foregoing, You acknowledge and agree that You shall not use, or assist third parties to use the Services to, without limitation, avoid taxes, engage into activities that may amount to market abuse (including, without limitation, front-running, wash trades, etc.), engage into illegal gambling, frauds, money laundering or terrorist activities.
To the fullest extent permitted under applicable laws, You agree to hold harmless and indemnify Liyam, its officers, shareholders, employees, agents, directors, subsidiaries, affiliates, successors, assigns, suppliers, or licensors from and against all third party claims and all liabilities, damages, assessments, losses, costs, or expenses (including reasonable attorney fees) resulting from or arising out of (i) Your alleged or actual breach of these Terms, including, without limitation, Your express representations and warranties; (ii) Your alleged or actual use or misuse of the Services; and (ii) Your alleged or actual infringement or violation of any laws or of the rights of a third party.
You shall be solely responsible for any taxes applying to the payments You make or receive trough the Services, and to collect, report, and remit such taxes to the appropriate tax authorities.
15. SANCTIONED COUNTRIES
1. ENTIRE AGREEMENT
These Terms constitute all the terms and conditions agreed upon between You and Liyam and supersede any prior agreements in relation to the subject matter of these Terms, whether written or oral.
2. SEVERABILITY AND WAIVER
Unless as otherwise stated in these Terms, should any provision of these Terms be held totally or partially invalid or unenforceable, such invalidity or unenforceability shall not in any manner affect or render invalid or unenforceable the remaining provisions of these Terms, and the application of that provision shall be enforced to the extent permitted by applicable laws.
The failure of Liyam to exercise or enforce any of the rights or provisions of these Terms shall not considered as a waiver of Liyam’s rights to do so.
Liyam may assign these Terms and/or delegate any of its obligations hereunder, in whole or in part. You may not assign these Terms or any part of them, nor transfer or sub-license Your rights under these Terms to any third party.
4. NO PARTNERSHIP
Nothing contained in this Agreement shall be deemed or construed to create a principal and agent, partnership or joint venture relationship between You and Liyam.
5. FORCE MAJEURE
Liyam will not be deemed in default of these Terms to the extent that performance of its obligations is delayed or prevented by reason of any external force including, without limitation, war, insurrections, bank failures, strikes, fires, floods, earthquakes, labor disputes, epidemics, governmental regulations, freight embargoes, natural disaster, act of government or any other cause beyond Liyam’s reasonable control.
6. GOVERNING LAW AND JURISDICTION
The Terms for the Wallet services offered by Liyam are subject to and governed by Germany law to the exclusion of Germanys international private law and any international treaties. The Terms for the Exchanger services offered by Liyam are subject to and governed by law to the exclusion of international private law and any international treaties.
7. NO CLASS PROCEEDINGS
You will only be permitted to pursue claims against Liyam and/or Liyam on an individual basis, not as a plaintiff or class member in any class or representative action or proceeding, and You will only be permitted to seek relief (including monetary, injunctive, and declaratory relief) on an individual basis.
8. TIME BAR
You acknowledge and agree that any claim or cause of action arising out of or in connection with the Services shall be commenced within 1 (one) year after its accrual; thereafter, any such claim or cause of action shall be permanently barred.
If You have any questions regarding these Terms, please contact us at info@Liyam.com.