Terms of Use
Last updated
Introduction
To provide Violet's services to you, DeFi Labs GmbH ("we", "our", "us" or "Company") must have your ("you," "your" or "User") agreement to these Terms of Use ("the Terms"). By accessing or using Violet, you expressly consent and agree to be bound by and comply with these Terms.
If you are agreeing to these Terms on behalf of a business, you represent to us that you have the authority to bind that business or entity to these Terms, and that business or entity accepts these terms. We encourage you to read these Terms carefully and use them to make informed decisions.
Description of the Service
Violet is a highly customizable compliance and identity management tool provided by DeFi Labs. The purpose of Violet is to provide a standardized method to issue compliance credentials and map smart-contract access controls on the Ethereum mainnet as well as EVM-compatible chains.
Violet facilitates verifying your identity and authenticating your transactions without disclosing your personal information other than your wallet address, when requested by a third party, if you pass the Violet's Know Your Customer ("KYC"), Know Your Business ("KYB") screens, as well as any other compliance screens that may be applicable to your transaction. After you complete the enrollment process, Violet may, in its sole discretion, provide you with a credential (the "VioletID") that you may use to access Services provided by certain third parties (the "Service").
By registering and receiving a Violet credential, Violet will provide these services:
- Identity Management: enrollment, authentication, and other procedures for managing identity credentials on- and off-chain (forming the VioletID), which allow Violet to verify a user's real-world identity.
- Compliance Management: enrollment and ongoing backend procedures for managing compliance credentials (on- and off-chain) to ensure that VioletID holders fulfill the requirements of specific compliance regimes necessary to engage in permissioned transactions.
- Data Management: encryption and storage of off-chain credentials - in particular, identity and compliance credentials - as well as encrypted audit log data.
- Credential Management: issuing tokens and proofs - on- and off-chain - that allow other components or parties to verify compliance and identity information.
- Access Management: providing a functional "Access Token" in the form of a signed message and/or Non-Transferable Token (NTT) that is used to pass trusted compliance information from our off-chain system to on-chain smart contracts as part of your transaction. Access Tokens and NTTs contain no direct personal information of the user, revealing only that the wallet address has successfully enrolled and authenticated vs. the compliance required by the relevant smart contract.
If at any time you no longer meet the requirements for the VioletID, we will revoke it.
Eligibility and Proof of Identity
To use Violet, you represent that (1) you are at least 18 years of age or older (for US-based users) or older than the age of majority in the jurisdiction in which you reside, and are otherwise capable of entering into binding contracts, and (2) you have the right, authority and capacity to accept these Terms and to abide by these Terms, and that you will do so.
You will be required to submit certain personal information to verify your identity and provide you with your VioletID. Our collection, use, and retention of this information will be governed by our privacy notice. By using the Service and agreeing to these terms, you agree that you have read and reviewed Violet's Privacy Notice.
For corporate entities, we may require identification information related to the directors, officers or equity owners of the business. You represent and warrant at all times that all information provided by you to us is true, accurate, and not misleading in any respect. If any such information changes, it is your obligation to provide the new information to us as soon as practicable following such change.
Service is unavailable where prohibited by law. Violet will use its sole and absolute discretion to revise the list of prohibited jurisdictions, reject specific applications, or limit use of part or all of the Service.
Revisions to Terms and Disclosures
From time-to-time, Violet may update or change these Terms, for reasons like adhering to legal and compliance requirements or to reflect changes to our Service or business. When these Terms are revised, the date at the top of the page will be updated to the effective date of the changes to the Terms. Please check this page periodically for updates. Changes to the Terms are effective from the date of revision, and your use of the Service after the date of the change represents agreement to the updated terms.
Any disclosures or notices to you from us will be made exclusively through electronic communications. If you wish to withdraw your consent to receiving electronic communications, contact legal@violet.co. If you are unable to accept electronic communications, you may need to stop using Violet.
User Responsibilities
User will be responsible for (i) meeting Company's applicable minimum system requirements for use of the Service; (ii) complying with these Terms; (iii) ensuring the accuracy, quality, integrity and legality of data provided to Company; (iv) using commercially reasonable efforts to prevent unauthorized access to or use of the Service under its account, and notify Company promptly of any such unauthorized access or use; (v) any network or internet connectivity required to access the Service; and (v) using the Service only in accordance with these Terms, any applicable documentation, laws and government regulations.
We may follow any instructions for your use of Violet provided that we reasonably believe such instructions are authorized by you.
User Restrictions
User will not (i) make the Service available to anyone else; (ii) sell, resell, rent, lease, or otherwise commoditize the Service; (iii) upload files that contain software or other material that violates the intellectual property rights (or rights of privacy or publicity) of any User, third party or Company; (iv) upload files that contain viruses, Trojan horses, malware, viruses, worms, time bombs, corrupted files, or any other similar software that may harm or damage the operation of another's computer or the Service; or (v) interfere with or disrupt the integrity or performance of the Service, including by uploading false, misleading, or otherwise inaccurate information to obtain a VioletID. Violet will report and seek prosecution of users that intentionally exploit, disrupt, or otherwise harm Violet's system and operations to the fullest extent of the law.
User will not (i) create derivative works based on Violet; (ii) copy, frame or mirror any part or content of Violet, other than copying or framing on User's own intranets or otherwise for User's own internal business purposes in accordance with Company's applicable documentation; (iii) reverse engineer, decompile, disassemble or otherwise attempt to obtain or perceive the source code from which any component of the Service is compiled or interpreted; (iv) access the Service to build a competitive product or Service or to copy any features, functions or graphics of Violet; (v) cause or permit any person or third party or any of its affiliates or its or their employees, directors, representatives or agents to do any of the foregoing; and/or (vi) use the Service in any way not specifically permitted under these Terms.
Data Ownership
Company owns all metadata in connection with registration, use, and performance of the Service, including response times, load averages, usage statistics, and activity logs.
Disputes and Conflicts.
If we receive conflicting instructions from you, or if we become involved in or concerned about a dispute between you and any third party, we reserve the right to react in ways that we believe in good faith to be appropriate, including by closing your account or interpleading assets to court. You may be liable for all expenses and fees we incur for such conflicts or disputes, including attorneys' fees.
Your Responsibility for Your Use of the Service
We are not liable to you for any errors that result in a financial loss to you. We may take any action authorized or permitted by these Terms without liability to you, even if such action causes you to incur fees, expenses or damages.
We are not responsible for delays or loss incurred as a result of an error in setting up or otherwise registering with Violet.
No developer or entity involved in creating Violet will be liable for any claims or damages whatsoever associated with your use, inability to use, or your interaction with other smart contracts, including any direct, indirect, incidental, special, exemplary, punitive or consequential damages, or loss of profits, cryptocurrencies, tokens, or anything else of value.
Indemnification and Limitation of Liability; Legal Fees and Costs for Lawsuits
You agree to defend, indemnify and hold harmless the Company and its employees, managers, partners and Affiliates from any losses, damages, suits and expenses, of whatever kind, including reasonable legal fees, that we incur in connection with or arising out of your use of the Service, or for your violation of any law, regulation, order or other legal mandate, or the rights of a third party, or any act or omission by you or any person acting on your behalf while using the Service.
You agree to comply with applicable law and not to use Violet for any transaction or activity that violates applicable laws, regulations or rules. Please note, your agreement to comply includes any applicable laws and regulations of the countries that may have jurisdiction over your transaction or activity, as well as of your place of residency and any other law applicable to you.
TO THE MAXIMUM EXTENT PERMITTED BY LAW, VIOLET AND ITS SHAREHOLDERS, EMPLOYEES, AFFILIATES, LICENSORS, AGENTS, AND SUPPLIERS WILL NOT BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, PUNITIVE, OR MULTIPLE DAMAGES, OR ANY LOSS OF PROFITS OR REVENUES, WHETHER INCURRED DIRECTLY OR INDIRECTLY, OR ANY LOSS OF DATA, USE, GOODWILL, OR OTHER INTANGIBLE LOSSES, RESULTING FROM: (A) YOUR ACCESS TO OR USE OF OR INABILITY TO ACCESS OR USE THE SERVICE; (B) THE CONDUCT OR CONTENT OF OTHER USERS OR THIRD PARTIES ON OR THROUGH THE SERVICE; OR (C) UNAUTHORIZED ACCESS, USE, OR ALTERATION OF YOUR INFORMATION, EVEN IF YOU HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. IN NO EVENT WILL OUR AGGREGATE LIABILITY FOR ALL CLAIMS RELATING TO THE SERVICE EXCEED THE GREATER OF $100 USD OR THE AMOUNT YOU PAID US IN THE 12 MONTHS PRECEDING THE DATE OF THE ACTIVITY GIVING RISE TO THE CLAIM.
Class Action Waiver
To the extent permissible by law, all claims must be brought in a party's individual capacity, and not as a plaintiff or class member in any purported class, collective action, or representative proceeding (collectively, "class action waiver"). Any arbitrator may not consolidate more than one person's claims or engage in any class arbitration. You acknowledge that, by agreeing to these terms, you and Company are each waiving the right to participate in a class action.
Mandatory Mediation & Arbitration
By voluntarily accepting these Terms, you and Violet agree to the fullest extent permitted by law to resolve any claims arising out of, relating to, or in connection with the Terms, your relationship with us, or Violet's Services, including but not limited to your use of the Services and information you provide via the Services, through final and binding mediation and arbitration.
Any unresolved dispute or controversy arising from or relating to these Terms shall be mediated by both parties prior to any party pursuing any other legal or equitable remedy in any other forum whatsoever (the "Mediation"). All such Mediations shall be conducted through the platform provided by New Era ADR, Inc. (https://app.neweraadr.com/) (the "New Era Platform") in accordance with its rules and procedures by a professional neutral(s) with substantial experience in mediating and resolving commercial disputes (the "Neutral"). The Neutral shall be chosen in accordance with the rules and procedures of the New Era Platform.
If and only if any such unresolved dispute or controversy arising from or relating to these Terms is not finally settled through Mediation, such unresolved dispute or controversy shall be finally resolved by binding arbitration through the New Era Platform in accordance with its rules and procedures for Virtual Expedited Arbitrations. The Neutral shall be chosen in accordance with the rules and procedures of the New Era Platform.
The parties will bear costs as provided for under this Agreement in accordance with the rules and procedures of the New Era Platform for Virtual Expedited Arbitrations. The prevailing party may be entitled to receive reimbursement of its reasonable expenses (including reasonable attorneys' fees and all other expenses) incurred in connection with the Arbitration, at the Neutral's discretion.
Intellectual Property
You agree and acknowledge that we own all right, title and interest to and in the Service, the associated software, technology tools and content, Violet's website, any logos, identifying marks, images, illustrations, designs, icons, photographs, videos, text and other written and multimedia materials, the content displayed on the website, and other materials produced by and related to Company (collectively, the "Company IP"). You acknowledge and agree that no proprietary rights are being transferred to you in such materials or information, and that you have no intention of using such materials or information inappropriately or to in any way harm Company or any of its affiliates, directors, officers or employees. You shall not prepare any derivative work based on the Company IP, nor shall you translate, reverse engineer, decompile or disassemble the Company IP.
Waiver
We may delay the exercise of, or waive any rights we have under these Terms. Any delay or waiver of our rights applies only to the specific instance in which we decide to delay or waive the provision and does not affect our other or other rights in any way.
Changes to the Service
Violet reserves the right to modify, suspend, or discontinue the Service, temporarily or permanently, at any time. You agree that Violet will not be liable to you or to any third party for any modification, suspension or discontinuance of the Service.
Assignment
These Terms, or any of the rights or obligations provided here, may not be assigned or otherwise transferred by you to any other person or entity, whether by operation of law or otherwise, without Company's express written consent. Any attempted assignment or transfer in violation of this prohibition shall be of no effect and is a material violation of these Terms. Company may assign or transfer these Terms or any or all of its rights or obligations under this agreement at any time
Severability
If any provision of these Terms is found invalid or unenforceable, that provision will be enforced to the maximum extent permissible so as to effect the intent of the parties and the remainder of these Terms will remain in full force and effect. Neither party will be deemed to have waived any of its rights under these Terms by lapse of time or by any statement or representation other than by an explicit written waiver. No waiver of a breach of these Terms will constitute a waiver of any prior or subsequent breach of these Terms.
Governing Law and Venue
If you are a resident of the United States or Canada, these Terms will be governed by the laws of the State of New York without regard to its conflict of law provisions.
If you are a resident of any other jurisdiction, these Terms shall be construed and governed in all respects by the laws of the Federal Republic of Germany, without giving effect to principles of conflicts of law, unless otherwise agreed to by you and Violet in the context of a specific dispute.