Terms of Service

1. Agreement to these Terms

These Terms of Service (the “Terms”) govern your access to and use of the website, web application, and other user interfaces made available at https://alchemix.fi/ (together, the “Interface”) that provide a means of interacting with the Alchemix v3 protocol.

By accessing or using the Interface, you agree to be bound by these Terms. If you do not agree, do not access or use the Interface. Your only remedy if you are dissatisfied with the Interface or these Terms is to stop using the Interface.

2. The Protocol, the Interface, and who "we" are

The “Protocol” means the Alchemix v3 smart contracts and related software deployed on Ethereum and other blockchain networks. The Protocol is permissionless and non-custodial: anyone can interact with it directly without using the Interface, and it is not controlled by any single party. However, certain functions of the Protocol may be subject to administrative, governance, or upgrade controls, as described in Section 6.

“Alchemix,” “we,” “us,” and “our” refer collectively to the Alchemix decentralized autonomous organization — an unincorporated association of token holders and contributors — together with its contributors, core developers, multisig signers, and delegates. The Interface is made available by or on behalf of the Alchemix DAO.

All disclaimers, releases, limitations of liability, and indemnities in these Terms also apply for the benefit of the Alchemix Association (a Swiss verein) and each of Alchemix’s and the Association’s respective contributors, contractors, service providers, and affiliates, each of whom is an intended third-party beneficiary of these Terms. For the avoidance of doubt, the Alchemix Association does not own, operate, or control the Interface, and does not operate, control, or custody user assets through the Protocol.

The Interface is one of potentially several ways to access the Protocol; it is provided as a convenience. The Interface may charge a fee on certain actions; any such fee will be reflected in the transaction you authorize before you confirm it. We do not hold or custody your assets. You interact directly with the Protocol’s smart contracts from your own wallet; any assets you deposit are held by those smart contracts, not by us. All transactions are executed directly between you and the Protocol (or other users) via smart contracts. We are not a broker, dealer, exchange, bank, custodian, money-services business, or financial institution, and we do not act as an agent, intermediary, or counterparty to your transactions.

3. Eligibility

By using the Interface, you represent and warrant that you:

• are at least 18 years old and have the legal capacity to enter into these Terms;
• are not a Restricted Person (defined below), and are not accessing the Interface on behalf of or for the benefit of a Restricted Person;
• will comply with all laws, rules, and regulations applicable to your use of the Interface and the Protocol, including tax and reporting obligations; and
• are solely responsible for determining whether your use of the Interface and the Protocol is lawful in your jurisdiction.

A “Restricted Person” is any person or entity that is (a) the subject of any sanctions administered or enforced by the U.S. Office of Foreign Assets Control (OFAC), the United Nations, the European Union, the United Kingdom, or any other applicable sanctions authority; (b) organized, resident, or located in any country or territory that is itself the subject of comprehensive sanctions (currently including Cuba, Iran, North Korea, Syria, and the Crimea, Donetsk, and Luhansk regions); or (c) otherwise prohibited from using the Interface under applicable law.

You may not use any VPN, proxy, or other technique to disguise your location or circumvent any restriction in these Terms.

4. Permitted and prohibited uses

You may use the Interface only for its intended purpose: to view information about, and submit transactions to, the Protocol from a wallet you control.

In particular, you must not, and must not assist anyone else to:

(a) breach any law, regulation or sanctions program applicable to you, or use the Interface to facilitate money laundering, terrorist financing, tax evasion, fraud or trade in illegal goods or services;

(b) manipulate a market or the Protocol, exploit a vulnerability in the Protocol, the Interface or any smart contract, or knowingly interfere with their intended operation;

(c) introduce malicious code, attempt unauthorized access to any system, or circumvent a security or access control (including geographic or sanctions restrictions);

(d) infringe the intellectual-property or other rights of any person; or

(e) use the Interface in a way that is deceptive or that a reasonable person would regard as abusive toward other users.

This list is not exhaustive: conduct of the same kind as (a)–(e) is also prohibited. If we reasonably believe you have breached this Section, we may restrict or suspend your access to the Interface. Your right to interact with the Protocol directly is not affected.

5. No professional advice; informational only

All information provided through the Interface is for general informational purposes only and is not, and should not be construed as, financial, investment, legal, tax, or other professional advice. You are solely responsible for evaluating your own transactions and should consult your own professional advisors. Nothing on the Interface is an offer, solicitation, or recommendation to buy, sell, or hold any asset.

6. Assumption of risk

You understand and accept that use of the Interface and the Protocol involves significant risk, and you assume all such risk. This includes, without limitation:

• Smart-contract risk — the Protocol’s code may contain bugs, errors, or vulnerabilities that could result in the total loss of your assets, notwithstanding any audit, review, or bug-bounty program;
• Financial risk — the value of crypto-assets is volatile, and positions may be liquidated, become illiquid, or lose all value;
• Blockchain and network risk — transactions are irreversible, may fail, may be delayed, or may incur unpredictable fees, and networks may fork, halt, or be attacked;
• Cross-chain and bridging risk — moving or messaging assets across chains (including via third-party bridges and messaging layers) carries additional risk of loss;
• Key and wallet risk — you are solely responsible for the security of your wallet, private keys, and credentials; we cannot recover them or reverse transactions;
• Regulatory risk — laws and regulations applicable to crypto-assets and DeFi are evolving and may adversely affect the Interface, the Protocol, or you;
• Governance and upgrade risk — the Protocol’s smart contracts may be upgraded, modified, paused, migrated, or have their parameters changed through governance processes, multisig-controlled administrative functions, or other privileged roles, possibly without prior notice, and such changes could adversely affect the Protocol, your positions, and your assets;
• Third-party risk — the Protocol and Interface may depend on third-party software, oracles, vaults, and services that we do not control; and
• Interface risk — information displayed by the Interface, including asset values, balances, rates, yields, transaction simulations, estimates, health factors, liquidation prices, fees, and other data, may be inaccurate, delayed, incomplete, unavailable, or differ from information recorded onchain. The Interface may contain bugs or errors or construct, encode, display, or submit transactions incorrectly. You are responsible for independently reviewing and verifying transaction details before signing or submitting any transaction.

You represent that you have the necessary knowledge and experience to understand these risks and that you use the Interface and the Protocol at your own risk. The risks listed above are examples and are not exhaustive.

7. No custody; no fiduciary duty

We do not take custody of or hold your assets, and we owe you no fiduciary or similar duties. Any obligation we may have to you is limited to what is expressly stated in these Terms.

8. No warranties

THE INTERFACE AND THE PROTOCOL ARE PROVIDED “AS IS” AND “AS AVAILABLE,” WITHOUT WARRANTY OF ANY KIND. To the maximum extent permitted by law, we disclaim all warranties, express or implied, including any warranties of merchantability, fitness for a particular purpose, title, and non-infringement, and any warranty that the Interface or Protocol will be accurate, complete, reliable, secure, uninterrupted, error-free, or free of harmful components. We do not endorse and are not responsible for any third-party content, software, or service.

9. Limitation of liability

To the maximum extent permitted by law, in no event will Alchemix or any of the persons described in Section 2 be liable to you for any indirect, incidental, special, consequential, exemplary, or punitive damages, or for any loss of profits, revenue, data, or assets, arising out of or relating to your use of (or inability to use) the Interface or the Protocol, under any theory of liability, even if advised of the possibility of such damages.

To the maximum extent permitted by law, the total aggregate liability of Alchemix and the persons described in Section 2 for all claims relating to the Interface or the Protocol will not exceed the greater of (a) the total interface fees you paid to us in the twelve (12) months before the event giving rise to the claim, or (b) US$100. Fees collected at the protocol level by smart contracts, as distinct from fees charged by the Interface, are not fees paid to us and do not count toward this cap.

Some jurisdictions do not allow certain limitations, so some of the above may not apply to you.

10. Release and indemnification

You release Alchemix and the persons described in Section 2 from all claims, demands, and damages of every kind arising out of or relating to your use of the Interface or the Protocol, or your interactions with any third party.

You agree to indemnify and hold harmless Alchemix and such persons from any claim, loss, or expense (including reasonable legal fees) arising out of your use of the Interface or the Protocol, your violation of these Terms, or your violation of any law or the rights of any third party.

11. Intellectual property

The Protocol’s source code is made available under the license terms published in the project repository. The core Alchemix v3 contracts (including AlchemistV3, the Transmuter, and related contracts) are licensed by the Alchemix Association under the Business Source License 1.1 — a source-available license that is not an open-source license and that restricts production use without a commercial license until it converts to the MIT License on October 15, 2028. Other components, including the MYT and Morpho v2–based code, are licensed under the MIT License. Your use of the source code is governed by those license terms, available at https://github.com/alchemix-finance/v3/blob/master/LICENSE-BSD-V3_LICENSE-MIT-MYT.txt.

Subject to these Terms, we grant you a limited, personal, non-exclusive, non-transferable, revocable license to access and use the Interface for its intended purpose. All trademarks, logos, and brand features associated with Alchemix remain the property of their respective owners, and nothing in these Terms grants you any right to use them.

12. Changes to the Interface and these Terms

We may modify, suspend, or discontinue the Interface (in whole or in part) at any time, and we may update these Terms at any time by posting the revised version at https://alchemix.fi/. Changes are effective when posted. Your continued use of the Interface after changes are posted constitutes your acceptance of the revised Terms. It is your responsibility to review these Terms periodically.

13. Governing law and dispute resolution

These Terms, and any dispute or claim arising out of or relating to them, the Interface, or the Protocol, are governed by the substantive laws of Switzerland, without regard to its conflict-of-laws rules and excluding the United Nations Convention on Contracts for the International Sale of Goods.

Before initiating any formal proceeding, you agree to first attempt to resolve the dispute informally by contacting us through the channel in Section 14 and allowing at least sixty (60) days for good-faith negotiation.

Any dispute not resolved informally will be finally resolved by binding individual arbitration administered by the Swiss Arbitration Centre under the Swiss Rules of International Arbitration in force on the date the notice of arbitration is submitted. The seat of the arbitration will be Zurich, Switzerland; the arbitration will be conducted before a single arbitrator in the English language; and the arbitrator’s award will be final and binding.

To the fullest extent permitted by law, you and we agree that each may bring claims against the other only in an individual capacity, and not as a plaintiff or class member in any purported class, collective, consolidated, or representative proceeding. The arbitrator may not consolidate more than one person’s claims or preside over any form of class or representative proceeding. You and we also waive any right to a trial by jury.

If this class-action waiver is found unenforceable as to any particular claim, that claim (and only that claim) will be severed from the arbitration and brought in the courts of Zurich, Switzerland, while all remaining claims proceed in arbitration.

14. General

Reservation of rights and interpretation. The words “include,” “includes,” and “including” mean “including without limitation.” Every list of prohibited activities, risks, disclaimers, and protections in these Terms is illustrative and not exhaustive. Nothing not expressly permitted by these Terms is permitted, and all rights, protections, and remedies not expressly granted to you are reserved to us to the maximum extent permitted by law. The absence of any term does not imply consent, warranty, or assumption of responsibility by us.

No waiver. Our failure to enforce any provision of these Terms is not a waiver of that or any other provision.

Severability. If any provision of these Terms is held unenforceable, the remaining provisions remain in full force, and the unenforceable provision will be enforced to the greatest extent permitted by law.

Assignment. You may not assign or transfer these Terms. We may assign them freely.

Entire agreement. These Terms are the entire agreement between you and us regarding the Interface and supersede any prior agreements.

Contact. Questions about these Terms may be raised via the Alchemix Discord server.