Terms of Use

What Unlloo is

Unlloo is a set of smart contracts on Ethereum mainnet for crowd loans: a borrower publishes a loan request, lenders make offers with their own amount and interest rate, and the borrower accepts the offers they want. Loans are made in USDC, USDT and DAI. The interface is one way to use the contracts. It does not hold your funds.

Unlloo is not a party to your loans

Each loan is between a borrower and the lenders who fund it, and is carried out by the smart contract. Unlloo does not lend, borrow, broker, guarantee or collect any loan. It does not choose who lends to whom and does not set interest rates: lenders choose which requests to fund and at what rate, and borrowers choose which offers to accept.

Your wallet and your funds

You use the interface with your own wallet, and only you control it. Unlloo never has your private keys or seed phrase and never asks for them. You are responsible for keeping your wallet secure and for checking every transaction before you sign it. Transactions on Ethereum are final: Unlloo cannot reverse them, recover lost funds or restore access to a wallet.

Who can use Unlloo

You may use the interface only if:

• you can enter into a binding agreement under the law that applies to you;
• using it, and lending or borrowing crypto assets, is lawful where you are;
• you are not subject to sanctions, do not act for anyone who is, and are not located in a country or region subject to comprehensive sanctions; and
• the wallet and funds you use are your own, or you are authorised to use them.

We may restrict access to the interface from some locations or wallets.

Reputation scores

The 0 to 1000 reputation score shown for a wallet is information, not a credit rating, a recommendation or a promise that a loan will be repaid. It is built from public blockchain data and third-party services, and it can be incomplete or wrong. The smart contract does not check it.

Fees

The contract charges a protocol fee on the interest lenders earn, never on principal. The fee is 10% of interest; the contract allows at most 25%. A change to the fee is queued publicly and can take effect only after 3 days, and each loan keeps the fee rate it was created with. Ethereum network fees are paid to the network, not to Unlloo.

Admin powers and changes to the contract

The contract has an admin wallet. It can pause new loans, offers and acceptances, cancel loans that are still funding, change the limits for new loans, and upgrade the contract after a public 3-day timelock. A pause never blocks repayments, claims or refunds. What these powers can and cannot do is set out on the Security page.

Risks and no advice

Lending through Unlloo can lose some or all of the money you lend, and borrowing creates a debt you are responsible for. Read the Risks page before you use the interface. Nothing on the interface is financial, investment, legal or tax advice, or a recommendation to lend to or borrow from anyone. You are responsible for your own decisions and for any tax that applies to you.

What you must not do

When you use the interface, you must not:

• break any law, or use funds that come from crime;
• deceive lenders or borrowers, or misrepresent who you are, what you intend or your ability to repay;
• create activity, wallets or attestations to inflate a reputation score, or use another person's identity;
• exploit a bug or vulnerability instead of reporting it through the Security page; or
• attack, overload or interfere with the interface or the services it relies on.

Third-party services

The interface relies on services Unlloo does not run, such as wallets, Ethereum network providers, block explorers and reputation services. Their own terms apply to your use of them, and Unlloo is not responsible for them.

Availability of the interface

We may change, suspend or stop the interface, or any part of it, at any time. The smart contracts run on Ethereum independently of the interface: if the interface is unavailable, you can still repay, claim and withdraw by calling the contract directly, for example through a block explorer. The contract address is on the Security page.

Intellectual property

The Unlloo name, logo and the content of the website belong to Unlloo. You may not use them in a way that suggests you are Unlloo or that Unlloo endorses you.

No warranties

The interface and the smart contracts are provided "as is" and "as available". To the extent the law allows, Unlloo makes no promise that they are free of errors, secure or always available, or that any loan will be repaid.

Limitation of liability

To the extent the law allows, Unlloo is not liable for any loss arising from your use of the interface or the smart contracts, including losses from loans that are not repaid, failures or exploits of smart contracts, stablecoins losing their value or being frozen, network problems, or your wallet being compromised. Nothing in these terms limits any liability that cannot be limited by law.

Changes to these terms

We may update these terms. The date at the top of this page shows when they last changed. If you keep using the interface after a change, you accept the updated terms.

Contact

Questions about these terms: t.me/unlloo_protocol. How the website handles data is described in the privacy notice.