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Tethermalls Terms of Service

Chapter 1: General Provisions

Article 1 (Purpose)

These Terms of Service govern the basic matters related to the rights, obligations, and responsibilities between Tethermalls (hereinafter referred to as the "Company") and users regarding the Web3-based DeFi Escrow service (hereinafter referred to as the "Service") provided by the Company, as well as the conditions and procedures for using the Service.

Article 2 (Definition of Terms)

  1. "Service" refers to the Web3-based DeFi Escrow service provided by the Company, including cryptocurrency transactions, services, shopping mall, and escrow transactions.
  2. "User" refers to all members and non-members who use the Service provided by the Company in accordance with these Terms.
  3. "Cryptocurrency" refers to digital currency based on blockchain technology, including USDT, USDC, etc.
  4. "Smart Contract" refers to a program that runs on the blockchain and automatically executes when transaction conditions are met.
  5. "Wallet" refers to digital wallets such as MetaMask, TronLink, etc., that store and facilitate cryptocurrency transactions.

Article 3 (Effect and Amendment of Terms)

  1. The Company shall post these Terms in a way that users can easily access them on the initial screen of the Service.
  2. The Company may amend these Terms for reasons such as changes in relevant laws or improvement of the Service, and the amended Terms shall take effect upon posting on the Service.
  3. Users may discontinue using the Service if they do not agree with the amended Terms, and continued use of the Service shall be deemed as agreement to the amended Terms.

Chapter 2: Service Usage

Article 4 (Provision of Service)

  1. The Company provides the following services:
    • Cryptocurrency P2P trading service
    • Service transactions payable with cryptocurrency
    • Shopping mall service for purchasing with cryptocurrency
    • Blockchain-based escrow service
  2. The Company aims to provide the Service 24 hours a day. However, the Service may be temporarily suspended due to system inspection, maintenance, failures, natural disasters, and other unavoidable circumstances.
  3. The Company may conduct regular maintenance when necessary for the provision of the Service, and the maintenance schedule will be announced in advance on the Service.

Article 5 (Service Usage Method)

  1. Users can use the Service after authentication by connecting a wallet (MetaMask, TronLink, etc.).
  2. The Company supports Ethereum Network and Tron Network, and users can select a network according to their preference.
  3. Users must comply with these Terms and usage guidelines posted by the Company when using the Service.

Article 6 (Transaction Fees)

  1. The Company charges a 1% fee on the transaction amount for the use of the Service.
  2. Gas fees incurred when using the blockchain network are borne by the users, and these fees may vary depending on network conditions.
  3. The Company will provide prior notice on the Service if the fee policy changes.

Article 7 (User Obligations)

  1. Users shall not engage in the following acts when using the Service:
    • Using another person's wallet information without authorization
    • Conducting illegal transactions through the Service
    • Disrupting the Company's Service or intentionally causing failures
    • Causing harm to others or violating public morals
    • Other acts that violate relevant laws and regulations
  2. Users are responsible for safely managing their wallets and private keys, and they are liable for any damages resulting from poor management.
  3. Users must faithfully fulfill their promises with transaction counterparties, and may be restricted from using the Service in case of intentional non-performance of transactions.

Chapter 3: Transaction and Escrow Service

Article 8 (Transaction Procedure)

  1. Creation of Secure Transaction: Users create a secure transaction by setting transaction conditions (product/service information, price, transaction terms, etc.).
  2. Fund Deposit: The buyer deposits the agreed amount into the blockchain smart contract.
  3. Performance Confirmation: The seller provides the product/service, and the buyer confirms it.
  4. Automatic Settlement: When transaction conditions are met, the smart contract automatically transfers funds to the seller.
  5. Transaction Record: All transaction details are permanently recorded on the blockchain.

Article 9 (Cancellation and Refund of Transactions)

  1. If a transaction is canceled by mutual agreement during the transaction process, the deposited funds will be returned to the buyer.
  2. If the seller fails to provide the product/service within the promised period, the buyer may request a refund.
  3. Upon refund request, the Company's arbitration team will review the submitted evidence and make a decision, and the smart contract will process the funds accordingly.

Article 10 (Dispute Resolution)

  1. In the event of a dispute during the transaction process, the parties should first attempt to resolve it through mutual agreement.
  2. If the parties fail to reach an agreement, they may request mediation from the Company.
  3. The Company will review the submitted evidence and make a fair decision, which will be notified to the parties.
  4. If a party disagrees with the Company's mediation decision, they may proceed with legal procedures in accordance with relevant laws.

Chapter 4: Responsibilities and Warranties

Article 11 (Company Responsibilities)

  1. The Company strives to provide stable service and will make efforts to promptly recover in case of service disruption.
  2. The Company does not directly manage users' assets, and all funds are deposited in blockchain smart contracts.
  3. The Company is not responsible for service interruptions and asset losses due to force majeure such as natural disasters, war, hacking, or other uncontrollable reasons.

Article 12 (User Responsibilities)

  1. Users are responsible for managing their wallets and entering transaction information.
  2. Users are liable for losses resulting from their negligence, such as private key leakage or incorrect address entry.
  3. Users should thoroughly check the identity of the counterparty and transaction details before proceeding with transactions.

Article 13 (Disclaimer of Warranty)

  1. The Company does not guarantee the legality, safety, or accuracy of transactions made through the Service.
  2. The Company does not provide any warranty for the content or results of transactions between users and is not responsible for losses arising from transactions.

Chapter 5: Miscellaneous

Article 14 (Intellectual Property Rights)

  1. All intellectual property rights for content provided within the Service belong to the Company or the respective rights holders.
  2. Users cannot reproduce, transmit, distribute, scrape, or otherwise use the content of the Service without prior written consent from the Company.

Article 15 (Governing Law and Jurisdiction)

  1. These Terms are governed by the laws of the Republic of Korea, and the Seoul Central District Court shall have primary jurisdiction over disputes related to these Terms.
  2. International transactions will be handled in accordance with international private law and international conventions.

Article 16 (Other Provisions)

  1. Matters not specified in these Terms shall be governed by relevant laws and the service operation policies established by the Company.
  2. If matters individually agreed upon between the Company and users differ from those specified in these Terms, the individual agreements shall take precedence.
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