Terms of service
1. Introduction
These Terms of Service (“Terms”) govern your access to and use of the IBVM Chain (“IBVM”), a Bitcoin Layer 2 blockchain and associated infrastructure, tools, and services (collectively, the “Services”) provided by the IBVM Foundation or its authorized affiliates (“we,” “our,” or “us”). By accessing or using the Services, you agree to be bound by these Terms, our Privacy Policy, and any other policies incorporated herein by reference.
We may modify these Terms at any time in our sole discretion. If we make material changes, we will notify you via email, platform notice, or by updating the “Last Updated” date at the top of these Terms. Your continued use of the Services after changes become effective constitutes your acceptance of the updated Terms.
2. Description of Services
IBVM provides a Layer 2 blockchain infrastructure built atop Bitcoin using advanced zero-knowledge and virtual machine (VM) technologies. Our Services include:
Bitcoin Layer 2 Execution: A high-throughput, low-cost blockchain leveraging Bitcoin’s security for enhanced scalability and programmability.
EVM Compatibility: Seamless support for Ethereum-based smart contracts and decentralized applications (dApps).
Cross-Chain Interoperability: Secure transfers of assets and data between IBVM and other networks, including Bitcoin and Ethereum.
Smart Contract Infrastructure: Execution environment for DeFi, NFTs, tokenization, and programmable finance on Bitcoin.
Developer Toolkit: SDKs, APIs, documentation, grants, and support to enable innovation on IBVM.
Decentralized Governance: Protocol improvements and decisions guided by community proposals and voting mechanisms.
Security and Compliance Tools: On-chain verifiability, data privacy, and tools to support compliance with global standards.
We may change or discontinue any aspect of the Services at our sole discretion with or without prior notice.
3. User Representations and Warranties
By using our Services, you represent and warrant that:
You are at least 18 years old or the legal age of majority in your jurisdiction.
You have the full legal authority to agree to these Terms and use our Services.
All information you provide to us is truthful, accurate, and up-to-date.
You are not subject to any economic sanctions or on any restricted party lists.
You are not located in a jurisdiction where the Services are prohibited by law.
You will not use the Services for any unlawful or malicious activity, including hacking, money laundering, or terrorism financing.
You understand and accept the inherent risks of blockchain use, including volatility and irreversible transactions.
4. Eligibility and Account Requirements
Access to the Services is limited to individuals and organizations who comply with applicable laws. You may be required to create an account or connect a wallet to access certain features. You agree to maintain accurate account information and safeguard your credentials.
We may suspend or terminate your access for violations of these Terms or applicable law.
5. Data Accuracy, Reliability, and Liability Disclaimer
While we strive to provide reliable data and uninterrupted services, IBVM is provided “as is” without warranties of any kind. We make no guarantees regarding the accuracy, timeliness, or completeness of any data or metrics. We are not liable for decisions made based on this data.
6. License and Use Restrictions
We grant you a limited, non-exclusive, revocable license to use our Services solely for lawful personal or authorized business purposes. You may not reproduce, resell, or modify the Services or any intellectual property without our written consent.
7. Fees and Payments
Certain Services may be subject to fees, which will be disclosed in advance. All fees are non-refundable except as required by law. We reserve the right to change pricing and will notify users of fee changes at least 30 days in advance.
8. Intellectual Property
IBVM retains all rights, title, and interest in its software, documentation, logos, data, and trademarks. You may not copy, modify, reverse engineer, or distribute our intellectual property without written permission.
9. Privacy and Data Security
We take reasonable measures to protect your information but cannot guarantee absolute security. You are responsible for protecting your wallet, keys, and access credentials. You agree not to share credentials or allow unauthorized access.
10. API Access and Rate Limits
Use of our APIs is subject to published rate limits and technical guidelines. We may limit or revoke access in cases of abuse, misuse, or system disruption.
11. Prohibited Uses
You agree not to:
Engage in fraudulent, abusive, or illegal activity.
Use bots or automated systems to scrape or attack our network.
Disrupt the network or other users’ experience.
Violate any third-party rights or applicable laws.
12. Disclosures and Disclaimers
IBVM is not a financial service provider, exchange, or broker. We do not offer investment advice, trading platforms, or clearing services. We do not custody assets. All interactions are peer-to-peer and rely on open blockchain protocols outside our control.
We are not registered with the SEC, CFTC, or similar regulatory bodies and make no representations regarding regulatory compliance beyond applicable laws.
13. Limitation of Liability
To the fullest extent permitted by law, we are not liable for any indirect, incidental, or consequential damages, including loss of profits, data, or business, even if advised of the possibility. Our total aggregate liability will not exceed the amount you paid to us in the past twelve months.
14. Indemnification
You agree to indemnify and hold harmless IBVM, its affiliates, contributors, and personnel from any claims, damages, or losses arising from your use of the Services or violation of these Terms.
15. Release
You hereby release IBVM and related parties from all claims, liabilities, or causes of action arising from your use of the Services, including disputes with other users or third-party tools.
16. Governing Law and Dispute Resolution
These Terms are governed by the laws of New South Wales, Australia, without regard to its conflict of law principles. Any disputes arising out of or in connection with these Terms or your use of the Services shall be subject to the exclusive jurisdiction of the courts of New South Wales, Australia. You agree to submit to the personal jurisdiction of such courts and waive any objection based on venue or forum non conveniens. You further waive any right to participate in class action proceedings.
17. Termination
We may terminate or suspend your access to the Services at any time for violations of these Terms or to protect the integrity of the network. Upon termination, all rights granted under these Terms shall cease.
18. Amendments
We may update these Terms from time to time. Continued use of the Services after such updates constitutes your acceptance. Please review the Terms periodically.
19. Risk Factors
By using IBVM, you acknowledge the following risks:
Blockchain and Smart Contract Risks: Smart contracts may contain bugs or vulnerabilities. IBVM cannot guarantee their security or correctness.
Network Risks: The Services may experience outages, delays, or attacks.
Regulatory Risks: Blockchain regulations vary and may change, potentially affecting access or legality in your jurisdiction.
User Error: Mistakes in sending transactions or using smart contracts can lead to irreversible loss.
20. Miscellaneous
These Terms constitute the entire agreement between you and IBVM regarding the Services. If any part is found unenforceable, the remaining parts will continue in effect. Our failure to enforce a provision is not a waiver of our rights.
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