Terms of Service

Important: Please read these Terms of Service carefully. By accessing or using Bink, you agree to be bound by these Terms. If you do not agree, do not use our Services.

These Terms of Service (“Terms” or “Agreement”) constitute a legally binding agreement between you (“User,” “you,” or “your”) and Botanix Labs Inc., a Delaware corporation (“Company,” “we,” “us,” or “our”), governing your access to and use of the Bink application, website, and related services (collectively, the “Services”).

Bink is a decentralized finance application that provides a bank-like experience by connecting various third-party protocols and services. Bink is not a bank, is not licensed as a financial institution, and does not hold or custody your funds.

01Acceptance of Terms

By creating an account, accessing, or using the Services, you acknowledge that you have read, understood, and agree to be bound by these Terms, our Privacy Policy (incorporated herein by reference), and all applicable laws and regulations. We reserve the right to modify these Terms at any time. We will notify you of material changes via email or in-app notification. Your continued use of the Services after such modifications constitutes acceptance of the updated Terms.

02Eligibility

To use the Services, you must:

• Be at least 18 years of age;
• Have the legal capacity to enter into a binding agreement;
• Not be located in, or a citizen or resident of, any jurisdiction subject to U.S. sanctions administered by the Office of Foreign Assets Control (“OFAC”), including but not limited to Cuba, Iran, North Korea, Syria, the Crimea region, and the so-called Donetsk and Luhansk People's Republics;
• Not be listed on any U.S. government list of prohibited or restricted parties; and
• Comply with all additional eligibility requirements imposed by our third-party service providers, including MoonPay for fiat on/off-ramp services.

03Description of Services

3.1 Overview

Bink provides a user interface that connects to various decentralized protocols and third-party services to offer:

• Self-custodial wallet creation and management (via Privy);
• Yield generation through stBTC staking (via Botanix staking protocol);
• Borrowing and lending services (via Dolomite);
• Fiat on-ramp and off-ramp services (via MoonPay);
• Digital asset transfers on the Botanix network, Bitcoin Layer 1, and Lightning Network;
• Bridging services between Bitcoin Layer 1, Lightning Network, and Botanix (via Atomiq Exchange and Garden Finance); and
• A points and rewards program (“Bink Points”).

3.2 Self-Custody

Your wallet is self-custodial, meaning you maintain full control over your private keys and digital assets at all times. We do not have access to, custody of, or control over your private keys, seed phrases, or digital assets. You are solely responsible for:

• Safeguarding your account credentials and recovery methods;
• Maintaining the security of your device and email account;
• All transactions initiated from your wallet; and
• Any losses resulting from unauthorized access to your account.

We cannot recover lost private keys, reverse transactions, or restore access to your wallet.

3.3 Third-Party Services

The Services integrate with and rely upon third-party protocols and service providers, including but not limited to Privy (wallet infrastructure), MoonPay (fiat services), Dolomite (lending), Atomiq Exchange and Garden Finance (bridging), and the Botanix network. Your use of these third-party services may be subject to additional terms and conditions imposed by those providers. We do not control, endorse, or assume responsibility for any third-party services, and you acknowledge that your use of such services is at your own risk.

04Account Registration

To access certain features of the Services, you must create an account using your email address. By creating an account, you agree to provide accurate, current, and complete information. You are responsible for maintaining the confidentiality of your account credentials and for all activities that occur under your account.

Certain features, including fiat on-ramp and off-ramp services provided by MoonPay, require completion of Know Your Customer (“KYC”) verification. KYC requirements and geographic restrictions are determined by MoonPay and may vary by jurisdiction.

05Bink Points Program

Bink offers a points program (“Bink Points”) that allows users to earn points through various activities including transactions, referrals, borrowing, and transfers. Accumulated points contribute to user levels, which may unlock benefits such as enhanced yield rates.

Bink Points:

• Have no cash value and cannot be exchanged for fiat currency;
• Are non-transferable between users;
• Do not constitute property and confer no ownership rights;
• May be modified, limited, or terminated at our sole discretion; and
• Are subject to program rules that may be updated from time to time.

We reserve the right to modify, suspend, or discontinue the Bink Points program at any time without prior notice. Points balances may be forfeited if you violate these Terms or if your account is terminated.

06Fees

The following fees apply to use of the Services:

• Network Gas Fees: Blockchain transactions require payment of network fees (“gas fees”) directly to the Botanix network. Gas fees are not retained by Bink. Approximately 50% of gas fees on the Botanix network are distributed to stBTC holders as yield.
• Fiat On/Off-Ramp Fees: Fees for fiat currency deposits and withdrawals are charged by MoonPay and are displayed at the time of transaction. Bink does not charge additional fees for fiat services.
• Swap Fees: A fee is charged on digital asset swaps executed through the Services.
• Borrowing Fees: Fees apply to borrowing services and are displayed at the time of transaction.

Current fee schedules are available within the application. We reserve the right to modify fees at any time with notice provided through the Services.

07Risk Disclosures

You acknowledge and accept the following risks:

7.1 Digital Asset Risks

Digital assets, including Bitcoin and tokens on the Botanix network, are highly volatile. Prices may fluctuate significantly in short periods. You may lose some or all of the value of your digital assets. Past performance is not indicative of future results.

7.2 Smart Contract Risks

The Services interact with smart contracts deployed on the Botanix network and other blockchains. Smart contracts may contain bugs, vulnerabilities, or errors that could result in the loss of your digital assets. Smart contract transactions are irreversible.

7.3 Botanix Network Risks

The Botanix network operates as a federated Layer 2 network on Bitcoin with a federation of 16 node operators (of which Botanix Labs Inc. operates one). You acknowledge that:

• Bitcoin bridged to Botanix is held in multi-signature wallets controlled by the federation;
• Collusion among a supermajority of federation members could theoretically result in loss of funds;
• The federation has the technical capability to censor transactions or delay withdrawals;
• The network is evolving and may experience outages, bugs, or other technical issues.

7.4 Bridge Risks

Bridging assets between Bitcoin Layer 1, Lightning Network, and Botanix involves inherent risks including smart contract vulnerabilities, liquidity issues, and potential loss of funds during the bridging process.

7.5 Lending and Borrowing Risks

Participation in lending and borrowing through Dolomite carries risks including liquidation of collateral, protocol exploits, and loss of deposited assets.

7.6 Regulatory Risks

The regulatory environment for digital assets and decentralized finance is evolving and uncertain. Regulatory changes could adversely affect the Services, your ability to use the Services, or the value of your digital assets.

7.7 No Insurance

Digital assets held in your wallet are not insured by the Federal Deposit Insurance Corporation (FDIC), the Securities Investor Protection Corporation (SIPC), or any other governmental or private insurance scheme.

08Prohibited Activities

You agree not to:

• Use the Services for any illegal purpose or in violation of any applicable laws or regulations;
• Use the Services to launder money, finance terrorism, or engage in other financial crimes;
• Circumvent, disable, or interfere with security features of the Services;
• Use any automated means to access the Services without our authorization;
• Attempt to gain unauthorized access to any accounts, systems, or networks;
• Use the Services to evade sanctions or circumvent OFAC restrictions;
• Engage in market manipulation, wash trading, or other deceptive practices;
• Infringe upon the intellectual property rights of others; or
• Abuse, manipulate, or exploit the Bink Points program.

09Disclaimer of Warranties

The Services are provided “as is” and “as available” without warranties of any kind, either express or implied, including but not limited to implied warranties of merchantability, fitness for a particular purpose, title, and non-infringement.

We do not warrant that:

• The Services will be uninterrupted, secure, or error-free;
• Any defects will be corrected;
• The Services or servers are free of viruses or harmful components;
• The results obtained from use of the Services will be accurate or reliable; or
• Any third-party services integrated with the Services will perform as expected.

We are not a bank. We are not a broker, exchange, custodian, or financial advisor. We do not provide investment, legal, or tax advice. Any decisions you make based on information obtained through the Services are made at your own risk.

10Limitation of Liability

To the maximum extent permitted by applicable law, in no event shall Botanix Labs Inc., its affiliates, directors, officers, employees, agents, or licensors be liable for any indirect, incidental, special, consequential, or punitive damages, including without limitation loss of profits, data, use, goodwill, or other intangible losses, resulting from:

• Your access to or use of (or inability to access or use) the Services;
• Any conduct or content of any third party on or related to the Services;
• Loss or theft of digital assets;
• Smart contract failures or exploits;
• Network outages or failures;
• Bridge failures or losses;
• Actions of federation members;
• Unauthorized access to your account; or
• Any other matter relating to the Services.

In no event shall our total liability to you for all claims exceed the greater of (a) the total amount of fees paid by you to Bink during the twelve (12) months prior to the claim, or (b) one hundred U.S. dollars ($100).

11Indemnification

You agree to indemnify, defend, and hold harmless Botanix Labs Inc., its affiliates, and their respective directors, officers, employees, agents, and licensors from and against any and all claims, damages, losses, costs, and expenses (including reasonable attorneys' fees) arising out of or relating to: (a) your use of the Services; (b) your violation of these Terms; (c) your violation of any rights of any third party; or (d) your violation of any applicable law or regulation.

12Dispute Resolution and Arbitration

Please read this section carefully. It affects your legal rights, including your right to file a lawsuit in court.

12.1 Agreement to Arbitrate

You and Botanix Labs Inc. agree that any dispute, claim, or controversy arising out of or relating to these Terms or the Services (“Disputes”) will be resolved exclusively through binding individual arbitration rather than in court, except that either party may bring individual claims in small claims court if they qualify.

12.2 Class Action Waiver

You and Botanix Labs Inc. agree that each may bring claims against the other only in your or its individual capacity and not as a plaintiff or class member in any purported class, consolidated, or representative action.

Unless both you and we agree otherwise, the arbitrator may not consolidate more than one person's claims and may not otherwise preside over any form of a representative or class proceeding.

12.3 Arbitration Procedures

Arbitration shall be conducted by JAMS in accordance with its Comprehensive Arbitration Rules and Procedures. The arbitration shall be conducted by a single arbitrator in the English language. The seat of arbitration shall be Wilmington, Delaware. The arbitrator's decision shall be final and binding, and judgment on the award may be entered in any court of competent jurisdiction.

12.4 Exceptions

Notwithstanding the foregoing, either party may seek injunctive or other equitable relief in any court of competent jurisdiction to protect its intellectual property rights.

13Governing Law

These Terms shall be governed by and construed in accordance with the laws of the State of Delaware, United States, without regard to its conflict of law principles.

14Intellectual Property

The Services, including all content, features, and functionality, are owned by Botanix Labs Inc. and are protected by United States and international copyright, trademark, patent, trade secret, and other intellectual property laws. “Bink,” “Botanix,” and associated logos and designs are trademarks of Botanix Labs Inc. You may not use, copy, reproduce, modify, or distribute any content from the Services without our prior written consent.

15Termination

We reserve the right to suspend or terminate your access to the Services at any time, with or without cause, and with or without notice. Upon termination, your right to use the Services will immediately cease. You may terminate your account at any time by discontinuing use of the Services. All provisions of these Terms that by their nature should survive termination shall survive, including ownership provisions, warranty disclaimers, indemnity, and limitations of liability.

16Miscellaneous

16.1 Entire Agreement

These Terms, together with our Privacy Policy, constitute the entire agreement between you and Botanix Labs Inc. regarding the Services and supersede all prior agreements and understandings.

16.2 Severability

If any provision of these Terms is held to be invalid or unenforceable, such provision shall be struck and the remaining provisions shall remain in full force and effect.

16.3 Waiver

Our failure to enforce any right or provision of these Terms shall not constitute a waiver of such right or provision.

16.4 Assignment

You may not assign or transfer these Terms or your rights hereunder without our prior written consent. We may assign these Terms without restriction.

16.5 Force Majeure

We shall not be liable for any failure or delay in performance due to circumstances beyond our reasonable control, including acts of God, natural disasters, war, terrorism, riots, embargoes, acts of civil or military authorities, fire, floods, network infrastructure failures, or strikes.

17Contact Information

If you have any questions about these Terms, please contact us at:

Botanix Labs Inc.
Email: legal@botanixlabs.xyz
Website: https://www.binkbtc.com/

By using the Services, you acknowledge that you have read, understood, and agree to be bound by these Terms of Service.