Terms of Service
Last Updated: 8 June 2025
Welcome to Unitas, the stablecoin module operated by Unipay Pte. Ltd. (the “Company,” “Unipay,” “we,” “our,” or “us”). These Terms of Service (the “Terms”) govern your access to and use of our websites, dashboards, APIs, documentation, and the associated smart‑contract systems that issue and manage the USDu and sUSDu digital tokens (collectively, the “Services”). By accessing or using any part of the Services, you agree to be bound by these Terms. If you do not agree, do not use the Services.
Key Token Definitions
USDu — a crypto‑native, dollar‑referenced stablecoin minted and redeemed via the Unitas smart contracts.
sUSDu — a staked version of USDu that accrues proportional protocol yield; 1 sUSDu automatically redeems to a growing amount of USDu over time.
1. Eligibility and Compliance
1.1 Age & Capacity. You must be at least 18 years old and have legal capacity to enter into a binding agreement.
1.2 Jurisdictional Restrictions. The Services are not offered to any person located in, or resident or citizen of, a jurisdiction where such access or use is prohibited by applicable law (including, without limitation, residents or citizens of Cuba, Iran, North Korea, Syria, Crimea, the U.S. state of New York, or any other embargoed/sanctioned jurisdiction).
1.3 KYC/AML. We may, at any time, require identity verification, sanctions screening, or source‑of‑funds checks. Failure to provide satisfactory information may result in refusal, suspension, or termination of access.
2. The USDu & sUSDu Tokens
2.1 Smart Contracts. USDu and sUSDu are issued, staked, and redeemed solely via open‑source smart contracts deployed by Unipay on supported blockchains (currently Solana, with planned support for Ethereum and BNB Chain). Unipay cannot unilaterally modify user balances.
2.2 Minting USDu. Subject to eligibility checks, users may deposit approved collateral assets through the mint function of the smart contract, receiving an equivalent amount of USDu minus any applicable fees.
2.3 Staking to sUSDu. Users may convert USDu to sUSDu via the stake function. The exchange rate USDu ↔ sUSDu increases as the protocol distributes yield to the sUSDu pool.
2.4 Redeeming.
Unstake: Burn sUSDu to receive USDu at the current exchange rate.
Redeem: Burn USDu to withdraw the pro‑rata share of underlying collateral, subject to protocol rules and throttles.
2.5 No Guarantee of Peg or Yield. While Unipay employs delta‑neutral hedging and other risk‑mitigation strategies, we do not guarantee that USDu will maintain a 1 USD value or that yield on sUSDu will be positive. You assume all market, smart‑contract, and regulatory risks.
3. Your Responsibilities
3.1 Self‑Custody. You are solely responsible for safeguarding the private keys, seed phrases, or other credentials that grant access to your tokens. Loss of credentials may result in irreversible loss of USDu/sUSDu.
3.2 Taxes. You are responsible for all tax obligations arising from your transactions with USDu and sUSDu.
3.3 Prohibited Conduct. You agree not to:
Violate any applicable law, regulation, or sanctions program;
Engage in market manipulation, wash trading, or fraudulent activity;
Use the Services to transmit proceeds of crime or illicit funds;
Interfere with, disrupt, or attempt unauthorized access to the Services.
4. Fees and Costs
4.1 Protocol Fees. Interactions may incur mint/redeem fees, staking performance fees, or withdrawal penalties as displayed in the UI before confirmation.
4.2 Network Costs. You are responsible for blockchain transaction fees (gas) and any third‑party costs.
5. Suspension & Termination
We may suspend or terminate your access to all or part of the Services, or freeze, burn, or otherwise restrict USDu/sUSDu under your control, without prior notice if we reasonably believe you have violated these Terms or applicable law.
6. Intellectual Property
Except for OSS components licensed under their respective open‑source licenses, all content, trademarks, and proprietary technology underlying the Services belong to Unipay or its licensors. You may not copy, modify, or distribute such materials without prior written consent.
7. Disclaimers
THE SERVICES ARE PROVIDED “AS IS” AND “AS AVAILABLE,” WITHOUT WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED. To the maximum extent permitted by law, Unipay disclaims all implied warranties of merchantability, fitness for a particular purpose, and non‑infringement. Unipay does not warrant that the Services will be uninterrupted, error‑free, or secure, or that any smart contract is free of vulnerabilities.
8. Limitation of Liability
To the maximum extent permitted by law, Unipay and its affiliates shall not be liable for any indirect, incidental, special, consequential, or punitive damages, or for any loss of profits, data, or goodwill, arising out of or related to the Services or these Terms. Aggregate liability shall not exceed (a) USD 100 or (b) the total fees paid by you to Unipay in the 12 months preceding the event giving rise to the claim, whichever is greater.
9. Indemnification
You agree to indemnify, defend, and hold harmless Unipay and its affiliates from and against any claims, losses, damages, liabilities, and expenses (including reasonable attorneys’ fees) arising from your use of the Services or violation of these Terms.
10. Governing Law & Dispute Resolution
10.1 Governing Law. These Terms shall be governed by, and construed in accordance with, the laws of Singapore, without regard to its conflict‑of‑laws principles.
10.2 Informal Resolution. Before initiating arbitration, you and Unipay agree to first attempt in good faith to resolve any dispute within 30 days after written notice.
10.3 Arbitration. Any dispute, controversy, or claim arising out of or relating to these Terms or the Services that cannot be resolved informally shall be finally settled by arbitration under the Singapore International Arbitration Centre (SIAC) Rules. The tribunal shall consist of one arbitrator appointed in accordance with the SIAC Rules. The seat of arbitration shall be Singapore and the language shall be English.
10.4 Class Action Waiver. All proceedings shall be conducted on an individual basis. You waiver any right to participate in a class or representative action.
10.5 Exceptions. Either party may seek injunctive relief or refer disputes that fall within the jurisdiction of a small‑claims court to such court.
11. Updates to These Terms
We may modify these Terms at any time. The updated Terms will become effective when posted on our documentation site or otherwise communicated to you. Your continued use of the Services after such posting constitutes acceptance of the revised Terms.
12. Contact
Questions? Email [email protected].
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