Terms & Conditions

Edited on September 6th, 2024

Elara Finance ("we", "us", "our", or "Elara") provides decentralized lending services on the Zircuit L2 network. By accessing or using any part of our services, including our websites, dApps, and any other services we provide (collectively, the "Services"), you agree to be bound by these Terms. If you do not agree to all the terms and conditions of this agreement, then you may not access the website or use any services.

We reserve the right to update, change, or replace any part of these Terms by posting updates and changes to our website. It is your responsibility to check our website periodically for changes. Your continued use of or access to our website or the Services following the posting of any changes to these Terms constitutes acceptance of those changes.

1. Use of Services Eligibility

To access or use the Services, you must be able to form a legally binding contract with us. You represent that you are of legal age in your jurisdiction to form a binding contract, but in no event less than 18 years old. If you are accessing or using the Services on behalf of a business or entity, you represent that you have the authority to bind that business or entity to these Terms.

Access and Use You may use the Services only for lawful purposes and in accordance with these Terms. You agree not to use the Services in any way that violates any applicable federal, state, local, or international law or regulation.

2. Services Description

Elara provides a decentralized lending protocol built on the Zircuit L2 network. Our services include, but are not limited to, ElaraLend for lending and borrowing, and ElaraVault for automated yield optimization. These services are designed to facilitate efficient capital utilization and yield generation within the decentralized finance (DeFi) ecosystem.

3. Assumption of Risk

You acknowledge and agree that the DeFi space involves significant risks. These include, but are not limited to, risk of loss, smart contract vulnerabilities, oracle failures, regulatory uncertainty, and market volatility. You assume all risks related to the use of Elara's services and any activities associated with cryptocurrencies and blockchain technology.

4. Intellectual Property Rights

All rights, title, and interest in and to the Services (including all intellectual property rights) will remain with and belong exclusively to Elara. You are granted a limited, non-exclusive, revocable license to access and use the Services for your personal, non-commercial use in accordance with these Terms.

5. Privacy Policy

Our Privacy Policy describes how we handle the information you provide to us when you use our Services. By using the Services, you agree to the collection and use of information in accordance with our Privacy Policy.

6. Disclaimer of Warranties;

Limitation of Liability We do not guarantee, represent, or warrant that your use of our Services will be uninterrupted, timely, secure, or error-free. We do not warrant that the results obtained from the use of the Services will be accurate or reliable. You expressly agree that your use of, or inability to use, the Services is at your sole risk.

In no case shall Elara, our directors, officers, employees, affiliates, agents, contractors, interns, suppliers, service providers, or licensors be liable for any injury, loss, claim, or any direct, indirect, incidental, punitive, special, or consequential damages of any kind, including, without limitation, lost profits, lost revenue, lost savings, loss of data, replacement costs, or any similar damages, whether based in contract, tort (including negligence), strict liability, or otherwise, arising from your use of any of the Services or for any other claim related in any way to your use of the Services.

7. Indemnification

You agree to indemnify, defend, and hold harmless Elara and our parent, subsidiaries, affiliates, partners, officers, directors, agents, contractors, licensors, service providers, subcontractors, suppliers, interns, and employees, from any claim or demand, including reasonable attorneys' fees, made by any third-party due to or arising out of your breach of these Terms or the documents they incorporate by reference, or your violation of any law or the rights of a third-party.

8. Dispute Resolution

All disputes arising out of or in connection with these Terms shall be resolved through binding arbitration in accordance with the rules of arbitration of the International Chamber of Commerce.

9. Governing Law

These Terms shall be governed by and construed in accordance with the laws of Sychelles, without regard to its conflict of law provisions.

10. Changes to Terms

We reserve the right, at our sole discretion, to modify or replace these Terms at any time. If a revision is material, we will provide at least 30 days' notice prior to any new terms taking effect. What constitutes a material change will be determined at our sole discretion.

By continuing to access or use our Services after any revisions become effective, you agree to be bound by the revised terms. If you do not agree to the new terms, you are no longer authorized to use the Services.

11. Contact Information

Questions about the Terms should be sent to us at [e-mail].