Cosmo Local Credit Terms of Service

Version 1.0 Effective date: 24 September 2026

These Terms of Service (the Terms) are a binding agreement between you and Grassroots Economics Foundation (GEF, we, us, or our) concerning your access to and use of the Cosmo Local Credit progressive web application made available at cosmolocal.credit and the related services that GEF operates (together, the App).

These Terms apply to every person or organization that creates or uses an Account, holds or uses a Token or Voucher through the App, creates or operates a Pool, contributes assets to a Pool, or carries out a Swap. Read them carefully before accepting them or using the App.

Important notices

Users make commitments to one another. An Issuer is responsible for its Voucher and a Steward is responsible for its Pool rules and any guarantee it advertises. GEF does not automatically guarantee either one.
No value, cash-out, liquidity, or redemption is guaranteed by GEF. A Token, Voucher, Pool position, or other digital asset may lose value, become illiquid, be impossible to redeem, or be unavailable in a particular jurisdiction.
Blockchain activity carries permanent risks. Transactions may be public, irreversible, technically defective, delayed, rejected, or lost. GEF may be unable to recover credentials or assets, reverse a transaction, or remove a public record.
A Swap is not automatically a loan. The Pool's disclosed rules, the Transaction Terms, the parties' conduct, and applicable law determine its legal effect. Loan obligations apply under these Terms only when a transaction is expressly presented as a repayable advance.
You are responsible for legality in your jurisdiction. You must determine whether your use, Token, Voucher, Pool, Swap, offering, or other activity is lawful and what registrations, permits, approvals, disclosures, taxes, and safeguards are required.

These notices summarize important points but do not replace the rest of the Terms.

1. Definitions

In these Terms:

Account means a user profile, authenticated session, and related access to App features. An Account may be associated with one or more Wallet credentials and a public blockchain address.
Advance means an asset delivered to a Swapper under a transaction expressly designated as a Swap Loan.
Collateral means an asset expressly transferred or pledged to secure or evidence a Swap Loan, subject to the applicable Transaction Terms and law.
Content means information submitted, created, or published through the App, including names, images, descriptions, posts, locations, contact details, Voucher terms, Pool rules, and offering information.
Full Value means the value assigned to Collateral or to an Issuer's redemption obligation in the Transaction Terms for a particular Swap Loan. There is no platform-wide Full Value.
Holder means a person or organization that lawfully controls a Token or Voucher. For a Swap Loan, the Transaction Terms may also use Holder to identify a person that lawfully holds all or part of a repayment or redemption claim.
Issuer means the person or organization that creates, issues, mints, or is identified as responsible for a Token or Voucher and its associated commitments.
Pool means a smart-contract arrangement or other coordinated system that curates Tokens or Vouchers, holds or accounts for digital-asset inventory, applies valuations, limits or fees, and enables Swaps or other transactions.
Steward means the person, organization, group, governance body, or authorized controller responsible for creating, administering, or publishing the rules of a Pool.
Swap means a transaction that exchanges, routes, deposits, or withdraws Tokens, Vouchers, stablecoins, or other supported assets through one or more Pools.
Swap Loan means only a Swap expressly presented before confirmation as a repayable Advance secured or evidenced by Collateral. A transaction is not a Swap Loan merely because a Voucher is exchanged for a stablecoin or another asset.
Token means a digital token, record, balance, or other digital asset accessible through the App. A Token is not necessarily a Voucher and its legal character depends on its features, representations, use, and applicable law.
Transaction Terms means the parameters and specific rules presented or made available for a transaction, such as the assets, amounts, Pool, route, valuation, fees, limits, deadline, Collateral, repayment obligations, or redemption conditions.
User or you means the individual who accepts these Terms and any organization that individual validly represents.
Voucher means a Token or record that an Issuer represents as a commitment, prepaid claim, or right to receive specified goods, services, benefits, performance, or other value under published redemption terms.
Wallet means the blockchain account, address, signing credentials, passkey, paper-wallet key, smart account, or related mechanism used to authorize transactions.

2. Acceptance and scope

You accept these Terms when they are presented to you and you affirmatively select the control indicating your agreement during Account creation or a later reacceptance process. Where applicable law permits acceptance through continued use, you also accept a notified update by continuing to use the App after the update takes effect. Merely viewing these Terms without creating or using an Account does not by itself create an agreement.

If you do not agree, do not create an Account or use the App. If you are accepting for an organization, you represent that you have authority to bind it. In that case, you includes both you and the organization where the context permits.

These Terms govern the relationship between you and GEF concerning the App. Pool rules, Voucher terms, and Transaction Terms may create separate obligations between Users. They supplement these Terms for the relevant user-to-user transaction but do not make GEF a party to that transaction, waive protections owed to GEF, or override mandatory law. If Transaction Terms conflict with these Terms, the Transaction Terms control only the specific user-to-user transaction and these Terms continue to govern your use of the App and relationship with GEF.

No later version of these Terms retroactively changes a completed transaction or the agreed economics of a transaction already confirmed.

3. Eligibility and authority

You may use the App only if:

you are at least 18 years old and have reached the age of legal majority in every jurisdiction applicable to you;
you have legal capacity to enter contracts and perform the obligations you undertake;
you are not prohibited from using the App by sanctions, court order, regulatory restriction, or other applicable law;
the information you provide is truthful, current, and complete; and
if acting for another person or organization, you have continuing authority to do so.

You must stop using the App if you cease to meet these conditions. GEF may request information reasonably necessary to verify eligibility, authority, identity, risk, or compliance and may restrict features where verification is incomplete.

4. Accounts, Wallets, and security

You are responsible for your Account, Wallet, devices, passkeys, paper-wallet materials, private keys, recovery information, and all activity authorized through them. You must use reasonable security, protect credentials from disclosure, maintain any backups you need, and promptly notify GEF at [email protected] if you suspect unauthorized Account access or misuse of an App-operated service.

The App may help create or connect a Wallet, register a passkey, prepare a transaction, obtain a signature or authorization, and submit a transaction through a relayer or network provider. Those functions do not eliminate your responsibility for the authorization you give. You must inspect transaction details before confirming them.

GEF does not promise that a lost credential, Wallet, Token, Voucher, or transaction can be recovered, replaced, frozen, cancelled, or reversed. A Wallet transaction validly authorized with your credentials may be treated as your instruction unless applicable law or reliable evidence establishes otherwise. A blockchain record is relevant evidence, but it is not necessarily conclusive in cases of fraud, compromise, system error, or a binding legal order.

Your Account is personal to you and may not be sold, transferred, rented, or shared in a way that misrepresents who controls it. Signing out, uninstalling the App, or closing an App profile does not revoke completed blockchain transactions or automatically remove public records, smart contracts, balances, or obligations to other Users.

5. GEF's role and limitations

GEF operates the App interface and may operate supporting catalogs, application programming interfaces, storage, relayers, indexing, notifications, moderation, and transaction-submission services. GEF may also help Users discover Tokens, Vouchers, Pools, and other Users.

Unless GEF expressly identifies itself in writing as acting in another capacity for a particular transaction, GEF is not:

the Issuer of a User-created Token or Voucher;
the Steward of a User-created Pool;
a party to a Swap or other user-to-user transaction;
a lender, borrower, broker, dealer, exchange, bank, money transmitter, insurer, fiduciary, investment manager, escrow agent, or financial adviser;
the seller, producer, inspector, carrier, or redeemer of an underlying good or service; or
a guarantor of any User, Token, Voucher, Pool, transaction, obligation, reserve, Collateral, price, or outcome.

A Pool smart contract may hold digital assets under its programmed rules. That fact does not by itself mean that GEF owns those assets, owes their value, or can recover them. Similarly, a relayer may broadcast an authorized transaction without becoming the owner or custodian of the assets involved.

Listing, displaying, indexing, reviewing, verifying, or declining to remove an Account, Token, Voucher, Pool, Content item, or transaction does not constitute GEF's endorsement, certification, valuation, legal classification, or promise of quality. Where GEF expressly acts as an Issuer, Steward, or counterparty, it is subject to the same applicable duties these Terms place on other Users in that role.

6. Your legal and regulatory responsibility

The App may be accessible across many jurisdictions with different rules. You are solely responsible for obtaining competent advice and determining the laws that apply to your activity, including laws concerning consumer protection, credit, lending, payments, money transmission, banking, e-money, digital assets, securities, commodities, fundraising, charities, employment, wages, taxation, sanctions, anti-money-laundering controls, product safety, trade, privacy, intellectual property, cultural heritage, and electronic transactions.

GEF does not represent that any Token, Voucher, Pool, Swap, Swap Loan, contribution, or other arrangement has a particular legal, accounting, regulatory, or tax classification. Labels used by a User or within the App do not override applicable law.

You must obtain and maintain every registration, permit, approval, disclosure, consent, record, and safeguard required for your activities. You must not use these Terms or the availability of an App feature as evidence that GEF or any authority has approved your activity.

GEF may restrict, pause, geofence, condition, or refuse access to an Account, asset, route, or feature to address legal, regulatory, sanctions, fraud, safety, or operational risk. This section does not transfer to you any legal duty that applicable law places directly on GEF.

7. Tokens and Vouchers generally

Tokens and Vouchers are created and used by different parties for different purposes. Their value and legal effect depend on their terms and circumstances. Unless expressly stated in binding Transaction Terms by the responsible party:

they are not deposits with GEF;
they carry no promise by GEF of interest, profit, principal protection, exchange-rate stability, resale, liquidity, cash conversion, or redemption;
acceptance by any User is voluntary; and
availability in the App does not establish a market value or legal classification.

A transfer may be described as a gift or a contribution only when that treatment is clearly disclosed and lawful. These Terms do not convert every Token or Voucher transfer into a gift and do not remove an Issuer's published redemption obligations.

8. Creating or issuing a Token or Voucher

By creating, issuing, minting, distributing, or publishing a Token or Voucher through the App, you represent and agree that:

Authority. You have authority over the Token or Voucher, the underlying offering, the Content you publish, and every right or commitment you purport to grant.
Lawfulness and safety. The offering and its issuance, transfer, marketing, and redemption are lawful and reasonably safe in every jurisdiction where you make them available.
Accurate identity. You clearly identify the responsible Issuer and provide accurate, usable contact and dispute information.
Complete disclosure. Before distribution, you clearly state the offering; supply or issuance policy; unit of account and valuation method; material provenance or origin; quality and quantity; capacity or backing; geographic and time limits; accepted venues; expiry; fees, taxes, or charges; transfer restrictions; redemption process; expected performance time; evidence required; remedies; and every other fact material to a recipient's decision.
Capacity. You do not issue more than you can reasonably expect to honor under the published terms, and you promptly disclose a material reduction in capacity.
Ongoing transparency. You keep information current, preserve an intelligible record of material changes, and do not conceal a change behind an unchanged name, symbol, image, or listing.
Defined recipient rights. You state what a recipient may and may not do with the underlying offering, information, documentation, derivatives, or redistribution. No permission to copy, adapt, reproduce, or redistribute is implied beyond your published terms and applicable law.
No misleading claims. You do not describe a Token or Voucher as guaranteed, cash-equivalent, fully backed, insured, risk-free, or redeemable unless the statement is accurate, supportable, and accompanied by all material conditions.

You must not retroactively reduce the rights attached to an outstanding Voucher unless the terms accepted before acquisition clearly permit the change, the affected Holder gives any consent required by law, and the change is otherwise lawful. Where an on-chain field cannot be updated, you must make any permitted correction or change conspicuous in the current off-chain listing and preserve the prior record where reasonably necessary.

9. Fulfilling and redeeming a Voucher

An Issuer, not GEF, is responsible for fulfilling its Voucher according to the terms published when the Holder acquired it and any valid later agreement. Subject to disclosed lawful conditions, the Issuer must:

accept a properly presented Voucher for the stated goods, services, benefits, performance, or other value;
provide the promised quality and quantity within the stated period;
not refuse, unreasonably delay, or apply an undisclosed discount merely because the Voucher was transferred or passed through a Pool;
provide a practical process for presentment, verification, delivery, complaints, and remedies; and
record completed redemption by receiving, burning, cancelling, or otherwise disabling the redeemed Voucher where necessary to prevent reuse.

An Issuer may apply restrictions based on legality, safety, location, capacity, scheduling, expiry, identity, or other conditions only if they are lawful and were clearly disclosed before acquisition, except where a later restriction is required by law or necessary to prevent imminent harm.

A Holder must read the Voucher terms, assess the Issuer and offering, follow the stated redemption process, provide lawful evidence of control, inspect delivered goods or services where appropriate, and avoid presenting the same Voucher more than once. Acquiring a Voucher does not make GEF responsible for the Issuer's performance.

If a recipient modifies, repackages, or redistributes an offering where the Issuer's terms permit it, that recipient must accurately identify material changes, preserve required provenance and source acknowledgments, pass on applicable conditions, and avoid implying that the original Issuer or GEF approved the modified offering.

10. Creating and operating a Pool

A Steward is responsible for the design, administration, representations, and lawful operation of its Pool. Before accepting assets or enabling participation, the Steward must publish clear and accessible Pool rules that address, as applicable:

the Pool's purpose, operating model, identity, contact details, and accountable decision-makers;
admission, verification, participation, and exit rules;
accepted Tokens, Vouchers, Issuers, and routes, including the process for adding, suspending, or removing them;
valuation methods, units of account, price sources, oracle dependencies, update authority, and treatment of valuation errors;
default and pair-specific fees, fee recipients, network or service charges, and when fees may change;
deposit, withdrawal, Swap, exposure, concentration, time, and other limits;
available inventory, reserves, liquidity, Collateral, and the circumstances in which assets may be unavailable;
every guarantee, reserve, guarantor, insurance arrangement, redemption support, or loss-allocation rule, and the exact limits of each;
governance procedures, conflicts of interest, emergency powers, pause authority, upgrade authority, sealed or immutable settings, and notice of changes;
the rights attached to a contribution, deposit, liquidity position, gift, or endowment and whether withdrawal or repayment is available;
recordkeeping, asset provenance, transaction evidence, reporting, complaints, default, enforcement, and dispute procedures; and
termination, migration, and treatment of remaining obligations.

The Steward must keep these disclosures accurate, enforce them consistently, document material decisions and transactions, and honor every guarantee it advertises. Where a Pool connects or routes to another Pool, the Steward must respect the other Pool's disclosed governance, limits, and trust boundaries and must disclose material additional dependencies.

A Steward must not use a Pool to make deceptive return claims, disguise unlawful financial services, evade wage or employment protections, manipulate prices or activity, conceal the source or use of assets, enable prohibited conduct, or promise public cash-out, convertibility, liquidity, or loss protection that it cannot deliver.

GEF may set minimum listing, safety, disclosure, or technical standards and may decline, suspend, flag, or remove a Pool from an App-operated registry. Registry status is conditional and is not a GEF guarantee.

11. Using or contributing to a Pool

Before using or contributing to a Pool, you must assess its Steward, rules, contracts, accepted assets, valuations, fees, limits, inventory, reserves, governance, upgrade powers, guarantees, and legal status. You accept the risk that:

an Issuer may default or refuse redemption;
a Steward, administrator, oracle, guarantor, or other dependency may fail or act improperly;
prices, reference values, fees, limits, routes, or future availability may change where the governing rules permit;
a setting may become immutable or may remain changeable by an administrator;
reserves or inventory may be insufficient;
a Pool or route may pause, reject, revert, become inaccessible, or cease operation; and
a smart contract may contain defects or behave unexpectedly.

A contribution is an irrevocable gift or endowment, with no ownership, profit, interest, governance, repayment, or withdrawal right, only when it is expressly presented and accepted on that basis. Otherwise, the contributor's rights are determined by the disclosed Pool and Transaction Terms and applicable law.

12. Swaps, quotes, fees, and routing

A quote is an estimate based on conditions at a particular time, not a guarantee of execution or future value. Before confirming a Swap, you must review the assets, amounts, Pool or route, valuation, fees, limits, expiry or deadline, and other Transaction Terms made available to you.

By confirming a Swap and authorizing the related Wallet transaction, you instruct the relevant contracts and service providers to attempt the transaction on those parameters. The quote may need to be refreshed. A Swap may fail, revert, expire, execute only after delay, or become unavailable because of inventory, limits, price movement, fees, network conditions, contract state, routing, authorization, or legal restrictions.

A routed Swap may interact with multiple Pools, contracts, or providers. Each additional component introduces its own rules and risks. GEF does not promise the availability, best price, accuracy, completion, reversibility, or legal character of a Swap.

The direction of assets does not by itself decide the transaction's legal character. For example, receiving a stablecoin in exchange for a Voucher is not automatically a loan, and delivering a stablecoin in exchange for a Voucher is not automatically repayment. The express Transaction Terms, Pool rules, parties' conduct, and applicable law control.

13. Swap Loans expressly designated by a Pool

This section applies only when, before confirmation, the Pool expressly presents a Swap as a repayable Advance. If a transaction is not expressly designated in that way, this section does not independently create a debt, Collateral arrangement, assignment, due date, or right to enforce redemption.

13.1 Required Transaction Terms

The Steward must ensure that the Transaction Terms clearly disclose every material term required by law, including:

the identities or roles of the borrower and initial lender or creditor;
the input asset and amount, and whether it is Collateral or evidence of a claim;
the output asset and amount constituting the Advance;
the repayment amount, currency or asset, due date, grace period, and payment process;
every interest rate, fee, charge, or valuation adjustment, or an express statement that none applies;
the Full Value and how it is calculated;
whether and how the Pool or another Holder may hold, use, swap, transfer, lend, sell, auction, or otherwise dispose of Collateral;
whether a repayment or redemption claim may be transferred, how a current Holder is identified, and how partial transfers are treated;
the permitted settlement methods, who may choose between them, and how settlement is evidenced;
the redemption conditions where a Voucher may be fulfilled through goods, services, or other performance;
events of default, cure rights, enforcement methods, costs, and dispute procedures; and
the governing law and any mandatory consumer or borrower protections.

These Terms do not supply a default one-year due date, a default zero-interest rate, or any other missing credit term. A Pool may impose only charges and remedies that are clearly disclosed and lawful. Tax, accounting, consumer-credit, lending, and regulatory treatment is determined by applicable law, not by the label used in the App.

13.2 Collateral and transfer of claims

The Pool may hold, use, or transfer Collateral only to the extent clearly authorized by the Transaction Terms and applicable law. If the Collateral is the borrower's own Voucher, the Transaction Terms may provide that it also records or evidences a repayment or redemption claim.

Transfer of Collateral does not automatically extinguish or assign an obligation. Where the Transaction Terms and applicable law provide for assignment, transfer may move the corresponding claim to the current lawful Holder. A partial transfer may move only the corresponding portion of the claim. The Pool, Steward, and Holders must maintain records sufficient to prevent more than one person collecting the same portion, and valid settlement of a portion discharges that portion.

13.3 Repayment, redemption, and discharge

The Transaction Terms may permit settlement through payment of an approved asset, redemption of the borrower's Voucher at Full Value, or another lawful method. Where redemption is permitted, the Issuer must honor the Voucher according to its published lawful conditions and must not impose an undisclosed discount because the Voucher became associated with a Swap Loan.

Redemption is complete only when the promised performance has occurred and the relevant Voucher or claim has been returned, burned, cancelled, or otherwise recorded as discharged to prevent reuse. Asset repayment is complete only when received and recorded as satisfying the corresponding obligation. A person that has received full settlement may not pursue the same claim again.

13.4 Default and enforcement

The Transaction Terms may define default to include missed payment after any grace period, failure to honor a valid redemption request, counterfeit or unauthorized Collateral, double pledging, fraud, or another material breach. Remedies may include enforcement against Collateral, limits or registry action, recovery of an unpaid amount, or lawful off-chain proceedings, but only as permitted by the disclosed terms and applicable law.

A Steward may encourage another person to acquire and redeem a borrower's Voucher, but neither the Steward nor GEF guarantees that anyone will do so. Any Wallet authorization, confirmation record, signed message, transaction call, event, transfer, or state change may be used as evidence to the extent allowed by law, but no record overrides proof of fraud, compromise, error, discharge, or a binding legal decision.

14. Fees, taxes, and third-party payment services

You are responsible for reviewing and paying the fees and charges disclosed for an App service, Pool, transaction, network, relayer, or third-party provider. Fees may be deducted from transferred amounts or paid separately as disclosed. A completed or irreversibly submitted transaction is non-refundable except where the applicable terms or law require otherwise.

You are solely responsible for identifying, reporting, withholding, collecting, and paying taxes, duties, levies, and assessments arising from your activity. GEF does not calculate or pay your taxes and does not provide tax advice.

The App may make available services operated by third parties for stablecoins, fiat payments, on-ramps, off-ramps, identity checks, communications, mapping, storage, or other functions. Those providers may impose separate terms, eligibility rules, fees, and data practices. Unless expressly stated, GEF does not custody fiat, operate third-party payment rails, or guarantee a conversion, payout, exchange rate, provider, or regulatory outcome.

15. Prohibited conduct

You must not use the App, an Account, Token, Voucher, Pool, Swap, Content, or related service to:

violate law, sanctions, a court order, or another person's rights;
commit fraud, theft, bribery, corruption, money laundering, terrorist financing, tax evasion, or deceptive fundraising;
create or use counterfeit, unauthorized, falsely backed, or double-pledged assets or claims;
misrepresent identity, authority, ownership, provenance, supply, value, redemption, reserves, liquidity, guarantees, activity, or transaction purpose;
manipulate prices, volumes, ratings, routes, governance, or other measurements;
offer or facilitate unlawful weapons, drugs, trafficking, exploitation, sexual services, explicit material, controlled goods, or unsafe products;
evade consumer, borrower, wage, employment, charity, financial-services, or data-protection obligations;
impersonate, harass, threaten, discriminate against, exploit, or expose the private information of another person;
infringe intellectual property, privacy, publicity, confidentiality, cultural heritage, traditional knowledge, or community rights;
introduce malware, steal credentials, probe or bypass security, disrupt infrastructure, overload a service, scrape without authorization, or interfere with another User;
spam, send unsolicited promotions, or use contact information for an undisclosed purpose;
conceal a material conflict of interest or misuse non-public information; or
help another person do any of the above.

GEF may investigate suspected violations, preserve relevant records, restrict features, and cooperate with lawful requests from authorities. GEF is not required to adjudicate every user-to-user allegation and may take proportionate precautionary action while a risk is assessed.

16. Content and public listings

You retain any rights you hold in your Content. For Content that you intentionally submit for public display or publication, you authorize GEF, its contractors, and service providers to host, store, reproduce, format, translate, display, transmit, and distribute it worldwide without a royalty, solely as reasonably necessary to operate, secure, improve, and explain the App and to display or promote the offering or public listing for which you submitted it. This authorization continues for public records, transaction evidence, reasonable backups, and material already shared with others, even after you remove Content or close an Account.

This public-Content authorization does not apply to private Account, support, complaint, security, or compliance information. GEF may process that information only as described in Section 17 and applicable law. GEF will obtain any separate permission required by law before using identifiable Content to advertise GEF beyond displaying or promoting the public listing for which you supplied it.

You represent that you have authority to submit the Content and grant this authorization. You must respect privacy and obtain any consent needed before publishing another person's information, image, location, contact details, traditional knowledge, or community information.

GEF may edit formatting, translate Content, add risk notices, restrict visibility, or remove Content that violates these Terms or creates legal, safety, fraud, technical, or reputational risk. GEF is not responsible for copies retained by other Users, public networks, archives, or third parties.

The App, its design, branding, and GEF-created materials remain the property of GEF or the relevant owner. Access to the App does not transfer ownership of them or permit use of GEF's name or marks to imply endorsement.

17. Data and electronic records

For off-chain personal data whose purposes and means GEF determines, GEF acts as the data controller or equivalent responsible organization under applicable law. GEF may process information reasonably necessary to operate, secure, support, and comply with law in connection with the App. Depending on the features you use, this may include:

identity, contact, profile, location, preferred currency, and uploaded image information;
Wallet addresses, Token holdings, transaction history, signatures, authorizations, and public blockchain records;
device, browser, session, security, notification, support, and service-use information; and
Content, Voucher terms, Pool rules, transaction parameters, complaints, and compliance records.

GEF may process this information to create and administer Accounts, provide requested features, submit and index transactions, display public listings, communicate with you, prevent abuse, secure systems, maintain records, resolve disputes, improve the App, and meet legal obligations. Depending on the context and applicable law, processing may be necessary to perform this agreement, comply with law, protect legitimate interests, establish or defend legal claims, protect vital interests, or act on separate consent.

Information marked as required during Account creation or a transaction is necessary to provide that Account or feature, meet a legal duty, or manage material risk. If you do not provide it, GEF may be unable to create the Account or provide the feature. Optional profile fields, location access, notifications, and similar optional functions are not required for general Account use and may be declined or disabled, subject to the technical limits of a transaction or feature already requested.

Acceptance of these Terms is not blanket consent to optional data processing. Where law requires specific consent, GEF will request it separately and provide any required choice.

GEF may share information with contractors and providers supporting hosting, storage, communications, mapping, authentication, relaying, blockchain access, security, support, compliance, and professional advice; with other Users when you publish or transact; and with authorities or other parties where lawfully required or necessary to protect rights and safety. Providers and public networks may operate in other countries, so information may be processed across borders subject to applicable safeguards.

Public blockchain activity may expose a Wallet address, assets, amounts, timestamps, transaction data, and related metadata worldwide. It may be copied, indexed, combined with other information, and practically impossible for GEF to erase or correct. Do not place private, sensitive, or unnecessary personal information in transaction data or public metadata.

GEF retains information for as long as reasonably needed for the purposes above, including security, fraud prevention, transaction evidence, legal duties, limitation periods, backups, and dispute resolution. Retention does not make GEF able to delete information held by a public network or third party.

Subject to applicable law, you may request access, correction, deletion, restriction, objection, portability, or other available data rights by contacting [email protected]. GEF uses reasonable safeguards but cannot promise absolute security or confidentiality, particularly for public blockchain activity and information you publish.

18. Service changes, suspension, and termination

GEF may add, change, pause, restrict, or discontinue App features, supported networks, assets, catalogs, routes, fees, technical requirements, or eligibility. GEF will give reasonable notice where practicable, but may act immediately to address law, sanctions, fraud, security, safety, network failure, third-party dependency, or imminent harm.

GEF may warn, flag, limit, delist, suspend, or terminate an Account, Content item, Token, Voucher, Pool, route, or App-operated service if GEF reasonably believes that:

these Terms, applicable rules, or law have been violated;
information is false, incomplete, unsafe, or materially misleading;
an obligation, redemption, guarantee, or fee has not been honored;
an Account or credential is compromised;
continued availability creates legal, regulatory, security, fraud, technical, community, or reputational risk; or
action is required by an authority or service provider.

Where appropriate and lawful, GEF may provide notice, an opportunity to correct a violation, or a way to request review. Emergency action may occur without advance notice.

You may stop using the App at any time and may request closure of data or access that GEF controls. Suspension, delisting, termination, or closure does not undo completed transactions, remove public blockchain records, return assets automatically, or extinguish obligations to Issuers, Holders, Pools, Stewards, lenders, borrowers, or other Users.

19. Risks; no professional advice

You understand and accept the risk of loss arising from:

credential loss, phishing, theft, unauthorized access, device failure, or user error;
software defects, malicious code, smart-contract vulnerabilities, upgrades, administrator powers, or immutable settings;
network congestion, chain reorganization, forks, outages, failed relayers, bridges, nodes, indexers, or other infrastructure;
inaccurate quotes, oracle failure, valuation changes, volatility, depegging, insufficient inventory, slippage, fees, or illiquidity;
Issuer default, non-redemption, poor quality, delayed delivery, Steward misconduct, inadequate reserves, or failed guarantees;
changing law, enforcement, taxation, sanctions, geofencing, or legal classification; and
the failure, insolvency, suspension, or misconduct of a third party.

Information in the App is general information, not legal, tax, accounting, financial, investment, credit, insurance, or other professional advice. You must make your own assessment and obtain qualified advice where appropriate.

20. Warranties and disclaimers

GEF will not exclude any warranty, duty, or remedy that applicable law does not permit it to exclude. Subject to that rule and to the maximum extent permitted by law, the App is provided on an as-available basis. GEF does not warrant that the App or any User-created Content, Token, Voucher, Pool, route, quote, transaction, good, service, or third-party provider will be uninterrupted, error-free, secure, accurate, lawful, available, fit for a particular purpose, of satisfactory quality, redeemable, liquid, or profitable.

GEF does not warrant another User's identity, authority, solvency, capacity, honesty, performance, goods, services, reserves, Collateral, or compliance. You are responsible for appropriate due diligence and for the commitments you make.

Nothing in this section reduces an Issuer's duty to honor its Voucher, a Steward's duty to honor its Pool rules and advertised guarantees, or another party's obligations under valid Transaction Terms.

21. Limitation of liability

Nothing in these Terms excludes or limits liability for fraud, wilful misconduct, gross negligence, death or personal injury where such liability cannot lawfully be limited, violation of mandatory data-protection duties, mandatory consumer remedies, or any other liability that applicable law does not permit GEF to exclude or limit.

Subject to those exceptions and to the maximum extent permitted by law, GEF and its officers, directors, staff, contractors, agents, and affiliated entities are not liable for:

an Issuer's, Steward's, Holder's, counterparty's, or other User's conduct or failure;
the quality, safety, legality, delivery, redemption, pricing, or availability of goods, services, Tokens, Vouchers, Pools, or Collateral;
loss of credentials, assets, data, opportunities, goodwill, profit, revenue, business, or anticipated savings;
indirect, incidental, special, exemplary, punitive, or consequential loss;
a smart contract, blockchain, Wallet, device, network, oracle, bridge, relayer, third-party service, force-majeure event, or public record outside GEF's reasonable control; or
a restriction or good-faith action taken to address law, sanctions, fraud, safety, or security.

Subject to the same exceptions, GEF's total aggregate liability arising out of or relating to the App or these Terms will not exceed the total fees you paid directly to GEF for use of the App during the 12 months immediately before the event giving rise to the claim. Pool fees, network fees, third-party charges, contributions, and assets transferred to another User or contract are not fees paid directly to GEF unless GEF was expressly identified as their recipient.

If applicable law does not allow a particular exclusion or limit, that exclusion or limit applies only to the greatest extent the law permits. This section allocates risk between you and GEF; it does not limit claims you may have directly against an Issuer, Steward, borrower, lender, Holder, or other responsible party.

22. Indemnity

To the maximum extent permitted by law, you will indemnify and hold harmless GEF and its officers, directors, staff, contractors, agents, and affiliated entities from third-party claims, losses, liabilities, penalties, judgments, and reasonable costs arising from:

your breach of these Terms or applicable law;
your Account, Content, Token, Voucher, Pool, Swap, Swap Loan, goods, services, or other commitments;
your infringement or misuse of another person's rights, information, assets, or credentials; or
a tax, regulatory, consumer, employment, redemption, payment, or other obligation for which you are responsible.

This indemnity does not apply to the extent a claim was caused by the protected party's fraud, wilful misconduct, gross negligence, or breach of a non-excludable duty. GEF will give reasonable notice of a covered claim where practicable and will not require you to accept a settlement that unlawfully admits wrongdoing on your behalf.

23. Disputes

If you have a dispute with another User, you should first use the complaint, redemption, or dispute process disclosed for the relevant Voucher, Pool, or transaction. GEF may choose to provide records, communication tools, moderation, or informal assistance but is not obliged to decide the dispute and does not become liable for the underlying obligation by assisting.

Before filing a claim against GEF, you should send a written description of the issue and requested remedy to [email protected] and allow a reasonable opportunity for a good-faith response. This does not shorten a statutory limitation period or prevent urgent relief.

These Terms and disputes between you and GEF are governed by the laws of Kenya, without regard to conflict-of-law rules. Courts of competent jurisdiction in Kenya may hear such disputes. This choice does not deprive you of mandatory consumer protections or access to a forum that applicable law does not permit these Terms to exclude.

24. Changes to these Terms

GEF may update these Terms to reflect changes in the App, law, risk, security, or operations. GEF will identify the new version and effective date.

GEF will give at least 30 days' notice before a material change takes effect, normally through the App, Account communication, or the contact information you provided. A change may take effect sooner where reasonably necessary to comply with law, address an urgent security or safety risk, prevent fraud, or respond to an event outside GEF's reasonable control.

Where applicable law permits, continued use after the effective date constitutes acceptance of the updated Terms. Where law requires affirmative consent, GEF will request reacceptance before allowing continued use of affected Account features. If you do not agree, you must stop using the affected features. Changes apply prospectively and do not alter a completed transaction or previously agreed Transaction Terms.

25. General terms

Entire agreement. These Terms are the entire agreement between you and GEF concerning the App, except for a separate written agreement signed by an authorized GEF representative. Voucher terms, Pool rules, and Transaction Terms govern the relevant obligations between their parties as described in Section 2.

No partnership or agency. Using the App does not create employment, partnership, joint venture, agency, fiduciary, franchise, or representative authority between you and GEF or between Users.

Assignment. You may not assign your Account or this agreement without GEF's written consent. GEF may assign this agreement as part of a reorganization, transfer of the App, or succession of operations, subject to applicable law and reasonable notice.

Severability. If a provision is unlawful or unenforceable, it will be limited to the minimum extent necessary and the remaining provisions will continue in effect.

No waiver. Failure or delay in enforcing a provision is not a waiver. A waiver applies only if made in writing by an authorized party and only to the specific matter stated.

Force majeure. GEF is not responsible for delay or failure caused by events beyond its reasonable control, subject to any non-excludable duty to take reasonable precautions or mitigate harm.

Survival. Provisions concerning outstanding commitments, transaction evidence, public records, Content authorization, data retention, risk allocation, liability, indemnity, disputes, and general interpretation survive suspension, termination, or Account closure to the extent necessary to give them effect.

Authorized statements. Only a written statement by a duly authorized GEF representative can create a commitment on behalf of GEF. A volunteer, contractor, community member, broker, or other User cannot bind GEF without that authority.

Headings and language. Headings are for convenience. The English version controls unless applicable law requires otherwise.

26. Contact

Questions, complaints, legal notices, and data requests concerning these Terms or the App may be sent to:

Grassroots Economics Foundation
Email: [email protected]
Postal address: P.O. Box 1659-80108, Kilifi, Kenya