Terms and Conditions
1. Introduction
By using our services, you are agreeing to these Terms and Conditions ("Terms") that govern the relationship between you and Mountain Protocol (Mountain Protocol Limited, a Bermuda company), the issuer of the USDM token ("USDM") and the operator of "The Platform". Please read these Terms carefully before accessing or using our services.
By registering for an account, accessing or using the Platform, or purchasing, holding, or using USDM, you acknowledge that you have read, understood, and agreed to be bound by these Terms. If you do not agree with these Terms, you must not use the Platform or the USDM token.
These Terms may be updated or modified by Mountain Protocol from time to time. We will notify you of any significant changes to these Terms by posting a notice on our website or through other appropriate means. Your continued use of the Platform or USDM after any such changes constitutes your acceptance of the new Terms. If you do not agree to any changes in the Terms, you must stop using the Platform and USDM immediately.
If you have any questions or concerns about these Terms or our services, please contact us at support@mountainprotocol.com.
2. Definitions
“USDM” is a digital asset (rebasing ERC20 token), issued by Mountain Protocol Limited (“Mountain Protocol”) that operates natively on the Ethereum, Polygon POS, Arbitrum, Base, and Optimism blockchains (other blockchains will be added in the future, with due notice to users). USDM is fully backed by an equivalent amount of U.S. Dollar-denominated assets managed by Mountain Protocol in the form of “USDM Reserves”. Such reserves are composed mostly by short-term U.S. treasuries and equivalents, and –in smaller portions– in the form of deposits in regulated banks and other low-risk stablecoins that the company accepts as a means to purchase USDM (known as “assets in transit”).
“USDM Reserves” are fully segregated from the issuer, in compliance with the DAB Act of 2018, item 18 (1), held by USDM Reserves Ltd, an orphan Special Purpose Vehicle (SPV), which is a charitable trust held by Carey Olsen Fiduciaries Bermuda Limited, a Bermuda regulated Trust Company. USDM Reserves Ltd. is a legally separate entity to ensure that client assets remain segregated and are protected from claims against Mountain Protocol Ltd. Under no circumstance the USDM Reserves held by USDM Reserves Ltd are commingled with Mountain Protocol Ltd assets.
“Primary Users” are users of Mountain Protocol products that have opened an account with Mountain Protocol and have direct access to purchase and redeem USDM from “the company”. These users have access to the platform, in the form of web access or API access, to purchase and redeem USDM.
“Secondary Users” of Mountain Protocol products are still held under the terms and conditions in this policy. These users do not have access to purchase or redeem USDM directly with Mountain Protocol until they open and are approved for a Mountain Protocol account.
“The Platform” refers to both the web portal that allows users to purchase and redeem USDM and the API version with the same functionality.
"U.S. Person" means any of the following:
A U.S. Citizen or U.S. Resident, which includes:
U.S. citizens;
U.S. lawful permanent residents;
Individuals who meet the “substantial presence” test described in section 7701(b)(3) of the U.S. Internal Revenue Code of 1986 (as amended);
Protected individuals under section 1324b(a)(3) of the U.S. Immigration and Nationality Act; or
Individuals who hold a passport issued by the United States Government;
A corporation, partnership, or other entity established or organised in or under the laws of the United States;
Any estate of a decedent who was a citizen or a resident of the United States;
Any trust if:
A court within the United States is able to exercise primary supervision over the administration of the trust and
One or more United States Persons have the authority to control all substantial decisions of the trust;
Any Person organised or incorporated outside the United States and its territories or insular possessions in which any of the foregoing, whether singularly or in the aggregate, directly or indirectly:
Holds a 50 percent or greater equity interest by votes or value;
Holds a majority of seats or memberships on the board of directors of the entity; or
Authorises, establishes, directs, or otherwise controls the actions, policies, personnel decisions, or day-to-day operations of the Person.
3. Account Registration
Eligibility: To be eligible to open an account with Mountain Protocol and use our services, including the USDM token, you must meet the following criteria:
Supported Jurisdictions: Both your institution and the ultimate beneficial owners must be located in one or more of the jurisdictions supported by Mountain Protocol. A list of supported jurisdictions can be found on our website or obtained by contacting our support team (support@mountainprotocol.com).
Restricted jurisdictions: Afghanistan, Albania, Algeria, Bangladesh, Barbados, Belarus, Bhutan, Bosnia-Herzegovina, Botswana, Burkina Faso, Burundi, Cambodia, Cameroon, Central African Rep, China, Congo, the Democratic Republic, Cuba, Croatia, Eritrea, Ethiopia, Gambia, Gaza Strip, Grenada, Guinea, Guinea Bissau, Haiti, Iran, Islamic Republic of, Iraq, Jamaica, Jordan, Kenya, Kosovo, Kuwait, Lebanon, Liberia, Libya, Madagascar, Mali, Montenegro, Morocco, Mozambique, Myanmar, Nepal, Nicaragua, Niger,, North Korea, North Macedonia, Pakistan, Qatar, Russian Federation, Senegal, Serbia, Seychelles, Slovenia, Solomon Islands, Somalia, South Africa, South Sudan, Sudan, Suriname, Syria, Tanzania, Togo, Tonga, Trinidad & Tobago, Turkey, Turks & Caicos, Uganda, Ukraine, United States, Vanuatu, Venezuela, Vietnam, West Bank (Palestinian Territory, Occupied), Western Sahara, Yemen, Zimbabwe.
Institutional Accounts Only: Only institutions are eligible to create an account with Mountain Protocol. Individual accounts are not supported.
Institution Existence: The institution must be a legally established and recognised entity in one of the supported jurisdictions.
Authorised Representative: The representative opening the account on behalf of the institution must have the legal authority to act on behalf of the institution and bind it to these Terms.
No Previous Suspension: The institution or its representative must not have had a previous account with Mountain Protocol that was suspended or terminated for any reason. If you would like to reactivate a suspended account, get in touch with the support team. Reactivations are subject to company review.
Age requirement: The representative opening the account must be at least 18 years of age.
No existing sanctions: Neither the institution nor its representative must appear on any eligible sanctions lists, as determined by Mountain Protocol.
Legal Use Only: The institution and its representative/s agree that the Mountain Protocol account and USDM token will not be used for any illegal activity, including but not limited to, illegal gambling, money laundering, fraud, blackmail, extortion, ransoming data, terrorism financing, other violent activities, or any prohibited market practices.
Restrictions for U.S. Persons: Mountain Protocol restricts U.S. Persons' access to and usage of its Services, including but not limited to the USDM token. By using the Services, you represent and warrant that you are not a U.S. Person, as defined in our Terms and Conditions.
Mountain Protocol reserves the right to monitor and investigate any transactions or activities involving USDM tokens to ensure compliance with this eligibility restriction. In the event that Mountain Protocol determines, in its sole discretion, that a user is a U.S. Person or has knowingly facilitated the sale or transfer of USDM tokens to a U.S. Person, Mountain Protocol may take appropriate action, including but not limited to address blocking, account suspension or termination, or other actions that the company sees fit.
All accounts are subject to review and approval. The Company reserves the right to deny, suspend, or terminate an account if we determine that an institution or its representative does not meet the eligibility criteria outlined above or for any other reason at our sole discretion.
Account Information: Upon registering for an account with Mountain Protocol, the institution and its representative will be required to provide accurate, complete, and up-to-date information. This information may include, but is not limited to: the institution's name, address, contact details, tax identification number, incorporation documents, and information about the authorised representative, such as their name, title, and contact information. The institution and its representative agree to promptly update any account information if there are changes or if Mountain Protocol requests it.
Account Security: The institution and its representative are responsible for maintaining the confidentiality of their account credentials, including their username and password. They must take reasonable steps to protect the security of their account and prevent unauthorised access or use. This includes, but is not limited to, using strong and unique passwords, enabling two-factor authentication (2FA), and securing the devices used to access the account. The institution and its representative agree to notify Mountain Protocol immediately of any unauthorised access or use of their account, or any other security breach they become aware of. Mountain Protocol will not be liable for any loss or damage resulting from the institution's or representative's failure to comply with these account security requirements.
4. Services
Description of Services
USDM-related services: Mountain Protocol issues the USDM token, which is a digital asset designed to facilitate transactions within the blockchain ecosystem. Users can purchase, hold, and redeem tokens in “the platform”.
Bridged USDM-related services: the company does not offer bridged USDM tokens on other blockchains. Users will be informed when new blockchains are added. The use of third-party bridges carries inherent risks, and any resulting losses or damages are the responsibility of the users.
Custody services: Mountain Protocol provides access to hosted digital currency wallet(s) ("Hosted Wallet"). Your Hosted Wallet allows you to store, track, transfer, and manage your USDM balances. We store the private keys of said wallets, which are used to process transactions, using industry-standard security procedures and controls in a combination of online and offline storage. Based on our use of our security controls, it may be necessary for us to retrieve private keys or related information from offline storage in order to facilitate certain transactions in accordance with your instructions, and you acknowledge that this may delay the initiation or crediting of such transactions.
You are the owner of the Digital Currencies held in your Hosted Wallet. As long as you custody your Digital Currencies in a Hosted Wallet with Mountain Protocol, we maintain control over the private keys associated with the blockchain addresses holding your Digital Currency. While you may generally withdraw your Digital Currency by sending it to an external blockchain address at any time, your ability to do so is subject to outages and downtime of the Mountain Protocol website and our policies.
When using the Platform, you will have access to information regarding your balances, type, and amount of Supported Digital Currencies in your Hosted Wallet, individual transactions, and fees.
Digital asset transfers: When you or a third party sends Digital Currency to a Hosted Wallet from an external wallet not hosted on Mountain Protocol ("Inbound Transfers"), the person initiating the transfer is solely responsible for executing the transaction properly, which may include, among other things, payment of sufficient network fees for the transaction to be successful. Failure to pay such fees may cause an Inbound Transfer to remain in a pending state outside of Mountain Protocol's control, and we are not responsible for delays or losses incurred as a result of an error in the initiation of the transaction and have no obligation to assist in the remediation of such transactions. By initiating an Inbound Transfer, you attest that you are transacting in a Supported Digital Currency, which conforms to the particular Hosted Wallet into which funds are directed. For example, if you select an Ethereum wallet address to receive funds, you attest that you are initiating an Inbound Transfer of Ethereum alone and not any other Digital Currency. Mountain Protocol incurs no obligation whatsoever with regard to unsupported Digital Currency sent to a Mountain Protocol account or incompatible Hosted Wallet. Erroneously transmitted funds will be lost.
You agree, represent, and warrant that all Inbound Transfers are not the direct or indirect proceeds of any criminal or fraudulent activity. We reserve the right to investigate the source of any funds in your account and determine, in our sole discretion, how to handle their disposition. Such reviews may delay the settlement of these funds.
Following our review of any funds in question and the circumstances by which you received them, we may determine that you are not the owner of such funds. If such a determination is made, we reserve the right to dispose of these funds in accordance with applicable laws and regulations and in our sole discretion, which may include, but is not limited to, returning them to the destination of their origin.
When you send Digital Currency from your Hosted Wallet to an external wallet ("Outbound Transfers" and together with Inbound Transfers, "Digital Currency Transfers"), such transfers are executed at your instruction by Mountain Protocol. You should verify all transaction information prior to submitting instructions to us. Mountain Protocol shall bear no liability or responsibility in the event you enter an incorrect blockchain destination address. We do not guarantee the identity or value received by a recipient of an Outbound Transfer.
Digital Currency Transfers cannot be reversed once they have been broadcast to the relevant blockchain, although they may be in a pending state and designated accordingly, while the transaction is processed by network operators. Mountain Protocol does not control any blockchain or Digital Currency network and makes no guarantees that a Digital Currency Transfer will be confirmed by a Digital Currency network. Mountain Protocol may refuse to process or cancel any pending Outbound Transfers as required by law or any court or other authority to which Mountain Protocol is subject in any jurisdiction. Additionally, Mountain Protocol may require you to wait some amount of time after completion of a Digital Currency Transfer before permitting you to use further Services and/or before permitting you to engage in transactions beyond certain volume limits.
By using any of the services provided by Mountain Protocol, you acknowledge and agree that the availability and functionality of these services may be subject to limitations, delays, and other issues inherent in the use of blockchain technology and digital assets. Mountain Protocol is not responsible for any losses or damages arising from such issues, and your use of our services is at your own risk.
Service Limitations: By using the services provided by Mountain Protocol, you acknowledge and agree that the availability and functionality of these services may be subject to limitations, delays, and other issues inherent in the use of blockchain technology, digital assets, compliance and speed of services of vendors, especially financial partners. Mountain Protocol is not responsible for any losses or damages arising from such issues, and your use of our services is at your own risk.
Service Availability: Mountain Protocol strives to provide consistent and reliable access to our services. However, we cannot guarantee that our services will be available at all times, without interruption, or that they will always function as intended. By using our services, you acknowledge and accept the risk of potential service disruptions or unavailability.
5. Fees and Charges
Fee Structure: Mountain Protocol provides transparency in its fee structure by ensuring that all fees, including those charged by the company and any applicable partners, are clearly shown prior to the execution of any transaction. By using our services, you acknowledge and agree to these fees.
Rewards rate: USDM Rewards are presented as a “net” annualised percentage, meaning no fees are charged. There are no charges for using USDM on secondary markets. By holding or using USDM, you acknowledge and accept the terms of USDM Rewards.
Fee or Reward Rate Changes: Mountain Protocol reserves the right to unilaterally change fees and reward rates on a daily basis, in line with market conditions. Users will be notified via official channels.
Third-Party Fees: Mountain Protocol reserves the right to pass-through transactional fees to users. This can include transfer fees related to blockchain transactions, as well as banking fees. If applicable, users will be informed of any incurring pass-through fees expenses to be charged.
6. Transactions
Transaction Limits: To ensure the security and compliance of our platform, Mountain Protocol imposes basic weekly transaction limits for users.
Higher transaction limits can be requested by submitting an application through the platform. Please note that any increase in transaction limit is subject to further due diligence by Mountain Protocol. We reserve the right to approve or deny such requests at our sole discretion, based on the results of our assessment and compliance with our internal policies and applicable regulations.
By using our services, you acknowledge and agree to abide by these limitations.
Transaction Processing: Mountain Protocol is committed to providing efficient transaction processing for our users. However, processing times may vary depending on various factors, including the blockchain network's congestion, transaction complexity, and required confirmation or settlement. While we strive to facilitate transactions promptly, we cannot guarantee immediate processing or completion of transactions.
Transaction Errors: Users are responsible for ensuring the accuracy of transaction details, including recipient addresses, amounts, and digital asset types. Mountain Protocol is not liable for any losses or damages resulting from user errors or inaccurate transaction information. Once a transaction has been initiated, it cannot be reversed or modified. Please verify all transaction details before submitting them for processing.
Compliance Checks: Mountain Protocol monitors and may review transactions to ensure compliance with our policies, as well as applicable laws and regulations. We reserve the right to delay, suspend, or cancel transactions that we suspect may involve illegal or fraudulent activities or that violate our terms and conditions. In such cases, we may be required to report the transaction to the relevant authorities.
7. Account Termination and Suspension
Termination by User: Users may terminate their account with Mountain Protocol at any time by following the account closure process provided on the platform. Prior to termination, it is the user's responsibility to withdraw or transfer all digital assets from their own wallets.
Termination by Mountain Protocol: Mountain Protocol reserves the right to terminate your account and access to our services at our sole discretion, or as required by relevant rules and regulations.
When we paralyse, block or terminate our Services and/or your Mountain Protocol account, we will take reasonable steps to provide you with sufficient notice. However, there may be times when we have to stop, block or terminate our Services and/or your
Mountain Protocol account without notifying you in advance. The cases in which account closure is appropriate are detailed below (non-exhaustive list):
The client's involvement in any illegal, fraudulent activities and/or any illegal activity that the AML/ATF Compliance Department indicates.
Security or regulatory risk
Request, order, and resolution of a jurisdictional body.
Breach of the previously accepted terms and conditions of use.
Inappropriate use of the platform.
Consequences of Termination: Upon account termination, whether by the user or Mountain Protocol, users will lose access to all services and features provided by the platform. Mountain Protocol will not be liable for any losses, damages, or consequences resulting from account termination. Mountain Protocol will take reasonable business efforts for users to withdraw their funds, in compliance with relevant rules and regulations.
Account suspension: We reserve the right to suspend an account for an indeterminate period in which the user cannot carry out new operations.
The cases in which account suspension is appropriate are (non-exhaustive list):
Not responding to the request for relevant documentation to update the file
Do not perform operations within a relevant period.
Have relevant reputational and negative news that the client cannot explain sufficiently.
Requests from regulators or enforcement agencies.
Before the account closure progresses, and as long as the circumstances of the case allow it, the client will be notified of such a situation by email, giving them a response period of 15 days so that they can respond and appeal to such a decision. In that context, the client will have the possibility of appealing their application via email, indicating the reasons why the account closure should not proceed and withdrawing their funds. The client will have the function enabled to withdraw funds deposited on the Platform, as long as permitted by relevant rules and regulations.
8. User Responsibilities
Compliance with local laws: Users are responsible for complying with all local laws in their specific jurisdiction, including financial, tax, and other legal obligations related to their use of our services.
Prohibited Activities: Users of Mountain Protocol's services are prohibited from engaging in any illegal, fraudulent, or malicious activities. This includes, but is not limited to, money laundering, financing of terrorism, illegal gambling, fraud, blackmail, extortion, ransomware, or any other activities that violate applicable laws, regulations, or our terms and conditions. Mountain Protocol reserves the right to monitor and investigate any suspicious activities and may take appropriate action, including account suspension or termination, and reporting to the relevant authorities.
User Responsibility for Account Security: Users are solely responsible for maintaining the security and confidentiality of their account information, including login credentials and any other sensitive information related to their Mountain Protocol account. You must promptly notify us of any unauthorised access to or use of your account or any other security breach. Mountain Protocol is not responsible for any losses or damages resulting from unauthorised access to your account or the use of our services by unauthorised parties.
9. Security and Fraud Prevention
Security: Mountain Protocol uses industry-standard measures to protect your accounts and assets, including encryption, multi-factor authentication, and regular security audits, to protect your account and digital assets from unauthorised access, loss, or theft.
Fraud Prevention: Mountain Protocol actively monitors activity for signs of fraud and suspicious activities. We may implement various tools and processes to detect and prevent fraudulent activities, such as transaction monitoring, user behaviour analysis, and identity verification. If we detect any suspicious activities or transactions, we may take appropriate action, including freezing the affected accounts, blocking transactions, or reporting the incident to the relevant authorities.
10. Risk factors
USDM Reserves risk: USDM Reserves are held in short-term US Treasuries. Defaults on these instruments could lead to loss of collateral value.
Blockchain-Related Risk: The use of blockchain technology entails inherent risks, such as irreversible transactions, which may lead to permanent loss of assets in cases of errors or unauthorized transactions.
Fork risk: The permissionless nature of blockchains means that existing supported blockchains may fork. The company will inform users in advance in case new forks are supported, so that users can track the blockchains where ownership of assets continues to be supported for redemptions.
Smart Contract Risk: Smart contracts used on the platform may contain vulnerabilities or unforeseen issues that could result in asset loss or disruptions to our services. The company has taken steps to mitigate such risks, including audits and monitoring, but no smart contract is free of risk.
Liquidity and Listing Risk: Market fluctuations, changes in listing status, or other factors may impact the liquidity and value of digital assets held in your account.
Legal risk: Changes in laws or regulations in your jurisdiction or internationally may impact your ability to use our services or the legal status of your digital assets.
Exchange risk: The loss or compromise of digital asset exchanges may result in the loss of your assets or disruptions to our services.
Trading Risk: Trading digital assets involves inherent risks, including market volatility, and may result in the loss of some or all of your assets.
Banking Risk: Changes in banking relationships or regulations may impact the availability of our services, including the ability to deposit or withdraw fiat currency.
No Deposit Insurance: Mountain Protocol does not provide deposit insurance, and digital assets held in your account are not insured against loss.
Third-Party Platform Risk: USDM’s permissionless feature enables third-party platforms to integrate without the company's consent. This may lead users to interact with malicious contracts or contracts with security features that have not been assessed by the company. The company is not liable for losses related to the usage of third-party platforms.
Blocked addresses, Blacklisting and Forfeited funds: Mountain Protocol reserves the right to block certain USDM addresses and freeze associated USDM (temporarily or permanently) if it determines, in its sole discretion, that they may be associated with illegal activity or activity violating the Terms. If you send or receive USDM to/from a Blocked or Blacklisted Address, Mountain Protocol may freeze the USDM and take steps to suspend or terminate your USDM Account. In certain cases, Mountain Protocol may report suspected illegal activity to law enforcement agencies, which could result in the forfeiture of rights associated with your USDM, including redemption for USD. Mountain Protocol may also be required to freeze USDM or surrender associated USD if mandated by a legal order from a valid government authority.
11. Prohibited transactions
In connection with your holding or use of USDM, you agree not to engage in the following activities:
Violate any applicable law, statute, ordinance, or regulation.
Intentionally defraud Mountain Protocol or other users.
Provide false, inaccurate, or misleading information.
Participate in any transaction involving the proceeds of illegal activity.
Knowingly sell or transfer USDM to US persons.
Using USDM for transactions related to the following is prohibited, and Mountain Protocol reserves the right to monitor and, if appropriate, block or otherwise prevent transactions that relate to:
Restricted Persons and US persons, as defined in the Terms and Conditions.
Weapons, controlled substances, gambling activities, or money laundering/terrorist financing.
Ponzi schemes, pyramid schemes, or multi-level marketing programs.
Goods or services that infringe on copyright, trademark, or proprietary rights.
Credit repair services or other services that may present consumer protection risks.
Court-ordered payments, structured settlements, tax payments, or tax settlements.
Unlicensed money transmitter activity, layaway systems, or annuities.
Counterfeit goods or fraudulent activities, such as wash trading or market manipulation.
Purchasing goods from "Darknet" markets or any other service or website that acts as a marketplace for illegal goods.
If Mountain Protocol learns you are engaging in any Prohibited Transactions, it will be considered a violation of the Terms and may result in the suspension or termination of your account, potentially leading to the forfeiture of any USD funds otherwise eligible for redemption. The company may also be required by law to inform authorities about such transactions and follow court orders regarding information and assets held in the account.
12. Insufficient Funds
If a payment made to tokenize USD for USDM is reversed after the issuance of USDM is completed, Mountain Protocol reserves the right to: (i) retroactively cancel the issuance and deduct the USDM from your account, (ii) deduct such amounts from future USDM issuances or receipts, (iii) suspend your account until resolved, and (iv) pursue legal action or any other means of recovery available. You grant Mountain Protocol the right to block transactions involving USDM from your account and set off any fees or amounts owed against funds held on your behalf.
In case Mountain Protocol engages a third party to recover funds owed by you, you will be responsible for any fees or expenses incurred, including collection fees, legal fees, or convenience fees charged by third parties. You agree that communication regarding funds owed or a delinquent account will be made by email or phone, either by Mountain Protocol or a third party acting on its behalf. Note that engaging third parties for debt recovery may negatively impact your credit.
13. Third-Party Services and Links
Use of Third-Party Services: Mountain Protocol's platform may integrate with or provide access to various third-party services, tools, or platforms to enhance the user experience and provide additional functionalities. By using these third-party services, you agree to their respective terms and conditions, privacy policies, and any other applicable agreements.
No Endorsement: The integration or provision of access to third-party services does not constitute an endorsement, guarantee, or recommendation by Mountain Protocol. We are not responsible for the content, accuracy, reliability, or performance of these third-party services.
Risks and Liability: You acknowledge that the use of third-party services may involve risks, including security, data privacy, or other risks, and that Mountain Protocol shall not be liable for any losses, damages, or other consequences arising from your use of such services.
Third-Party Links: Our platform or communications may contain links to external websites or resources operated by third parties. These links are provided for your convenience and reference only, and Mountain Protocol is not responsible for the content, accuracy, or security of these external websites. Accessing and using these external websites is at your own risk, and Mountain Protocol shall not be liable for any losses or damages resulting from your use of these websites.
14. No investment advice
Please note that Mountain Protocol does not provide any investment advice or recommendations regarding the purchase, sale, or holding of USDM or any other digital assets.
All decisions to buy, sell, or hold digital assets are solely the responsibility of the user. Users should conduct their own research, seek professional advice, and carefully consider the risks associated with digital asset transactions before making any decisions.
15. Representations and Warranties
By using Mountain Protocol's services, you represent and warrant the following:
Legal Capacity: You have the legal capacity and authority to enter into and be bound by these Terms and Conditions, and if you are representing an institution, you have the authority to bind the institution to these Terms and Conditions.
Compliance with Laws: You will comply with all applicable laws, regulations, and rules in your jurisdiction, including those related to financial transactions, taxes, and anti-money laundering.
Accurate Information: All information you provide to Mountain Protocol, including your registration and account information, is true, accurate, and complete, and you will promptly update any changes to this information.
No Conflicts: Your use of Mountain Protocol's services does not conflict with or violate any agreements, contracts, or obligations you have with any third parties.
No Illegal Activities: You will not use Mountain Protocol's services for any illegal or unauthorised activities, including, but not limited to, money laundering, terrorism financing, or other criminal activities.
No Infringement: You will not infringe upon any intellectual property rights, privacy rights, or other rights of Mountain Protocol or any third party in connection with your use of our services.
No Misrepresentation: You will not impersonate any person or entity, or falsely state or otherwise misrepresent your affiliation with any person or entity, in connection with your use of Mountain Protocol's services.
By using our services, you acknowledge that Mountain Protocol relies on these representations and warranties in providing our services to you, and that any breach of these representations and warranties may result in account suspension, termination, or other consequences as determined by Mountain Protocol at our sole discretion.
16. Disclaimer of Warranties, Limitation of Liability, and Indemnification
Disclaimer of Warranties: Mountain Protocol's services are provided on an "as is" and "as available" basis, without any warranties or representations, either express or implied, including but not limited to warranties of merchantability, fitness for a particular purpose, title, or non-infringement. Mountain Protocol does not warrant that our services will be uninterrupted, timely, secure, error-free, or free from viruses, bugs, or other harmful components. Your use of our services is at your own risk and discretion.
Limitation of Liability: To the fullest extent permitted by applicable law, Mountain Protocol and its affiliates, directors, officers, employees, agents, and licensors shall not be liable for any direct, indirect, incidental, special, consequential, or exemplary damages, including but not limited to damages for loss of profits, goodwill, use, data, or other intangible losses, resulting from your use of our services, even if Mountain Protocol has been advised of the possibility of such damages.
Indemnification: You agree to indemnify, defend, and hold harmless Mountain Protocol, its affiliates, directors, officers, employees, agents, and licensors from and against any and all claims, liabilities, damages, losses, or expenses, including reasonable attorneys' fees and costs, arising out of or in any way connected with your access to or use of our services, your violation of these Terms and Conditions, or your infringement of any intellectual property or other rights of Mountain Protocol or any third party.
By using Mountain Protocol's services, you acknowledge and agree to the disclaimers, limitations of liability, and indemnification provisions set forth in this chapter, and that they apply to the fullest extent permitted by applicable law.
17. Governing Law and Jurisdiction
These Terms and Conditions shall be governed by and construed in accordance with the laws of Bermuda, without regard to its conflict of laws principles. You agree to submit to the exclusive jurisdiction of the courts of Bermuda for the resolution of any disputes or claims arising out of or in connection with these Terms and Conditions or your use of Mountain Protocol's services.
Mountain Protocol is committed to complying with all relevant laws and regulations, including those pertaining to anti-money laundering (AML) and counter-terrorism financing (CTF). Our compliance efforts encompass guidelines and sanctions from various authorities, such as the Bermuda Monetary Authority (BMA), the US Treasury Department, the Office of Foreign Assets Control (OFAC), Her Majesty's Treasury (HM) List, CFSP (EU) Sanctions, the Financial Crimes Enforcement Network (FinCEN), the United Nations Security Council, the Financial Intelligence Agency (FIA), international regulators, and other applicable AML, anti-corruption, and economic sanctions laws. We have designed our policies and procedures to ensure adherence to these legal frameworks, maintaining the highest levels of transparency, security, and integrity. Users are also required to abide by these legal requirements and collaborate with Mountain Protocol to uphold a compliant and secure platform.
18. Dispute Resolution
Informal Resolution: If any dispute arises between you and Mountain Protocol in connection with these Terms and Conditions or your use of our services, both parties shall first attempt to resolve the dispute informally through good faith negotiations.
Arbitration: In the event that the parties cannot resolve the dispute informally, the dispute shall be settled by binding arbitration in accordance with the rules of the arbitration body selected by Mountain Protocol. The arbitration proceedings shall take place in Bermuda, and the language of the arbitration shall be English.
Class Action Waiver: You agree that any dispute resolution proceedings, including arbitration, will be conducted only on an individual basis and not in a class, consolidated, or representative action. You hereby waive any right to participate in any class action or class-wide arbitration against Mountain Protocol related to any claim or dispute.
19. Miscellaneous
Entire Agreement: These Terms and Conditions, along with any additional terms and policies referenced herein, constitute the entire agreement between you and Mountain Protocol with respect to your use of our services and supersede any prior agreements or understandings between the parties.
Severability: If any provision of these Terms and Conditions is found to be invalid or unenforceable by a court of competent jurisdiction, the remaining provisions shall remain in full force and effect, and the invalid or unenforceable provision shall be deemed modified to the minimum extent necessary to make it valid and enforceable.
Waiver: No waiver by Mountain Protocol of any breach or default under these Terms and Conditions shall be deemed a waiver of any subsequent breach or default.
Assignment: You may not assign or transfer any rights or obligations under these Terms and Conditions without Mountain Protocol's prior written consent. Mountain Protocol may freely assign or transfer its rights and obligations under these Terms and Conditions.
Force Majeure: Mountain Protocol shall not be liable for any failure or delay in performance due to circumstances beyond its reasonable control, including but not limited to acts of God, natural disasters, war, terrorism, labour disputes, or governmental actions.
Notices: All notices or other communications required or permitted under these Terms and Conditions shall be in writing and shall be deemed given when delivered personally, sent by email, or mailed by certified or registered mail, postage prepaid, to the respective parties at the addresses provided during registration or as otherwise specified by the parties in writing.
20. Contact Information
If you have any questions or concerns regarding these Terms and Conditions, or if you require any assistance or support related to our services, please feel free to contact us at support@mountainprotocol.com. You can also submit a complaint or provide feedback about our services at support@mountainprotocol.com.
Our team is available to address your inquiries and provide guidance as needed. Your feedback and satisfaction are important to us, and we look forward to serving you.
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