Terms of Service
Effective Date: March 20, 2026
Last Updated: March 20, 2026
These Terms of Service ("Terms") constitute a legally binding agreement between you ("User," "you," or "your") and Stormbit Labs Pte. Ltd., a company incorporated under the laws of Singapore ("Stormbit," "Company," "we," "us," or "our"). These Terms govern your access to and use of the Stormbit web application located at app.stormbit.finance (the "App"), the Stormbit protocol smart contracts deployed on public blockchains (the "Protocol"), and any related services, tools, documentation, or content provided by the Company (collectively, the "Services").
By accessing or using the Services, you acknowledge that you have read, understood, and agree to be bound by these Terms in their entirety. If you do not agree to these Terms, you must not access or use the Services.
1. Acceptance of Terms
1.1. By connecting a cryptocurrency wallet to the App, executing a transaction through the Protocol, or otherwise accessing or using any part of the Services, you represent and warrant that you have read, understood, and agree to be bound by these Terms. Your use of the Services constitutes acceptance of these Terms and the formation of a binding contract between you and the Company.
1.2. If you are accessing or using the Services on behalf of a legal entity, you represent and warrant that you have the authority to bind such entity to these Terms, and "you" and "your" shall refer to such entity.
1.3. These Terms incorporate by reference our Privacy Policy, which describes our practices regarding the collection and use of your information, including through the use of analytics services such as Google Analytics.
2. Eligibility
2.1. To access or use the Services, you must be at least eighteen (18) years of age, or the age of legal majority in your jurisdiction, whichever is greater. By using the Services, you represent and warrant that you meet this age requirement.
2.2. You represent and warrant that you are not a "Restricted Person," which means any of the following:
(a) A citizen, resident, or person located in, incorporated in, or having a registered office in any Restricted Jurisdiction (as defined in Section 3);
(b) A person listed on, or owned or controlled by a person listed on, any sanctions list maintained by the United States Office of Foreign Assets Control ("OFAC"), the United Nations Security Council, the European Union, His Majesty's Treasury of the United Kingdom, the Monetary Authority of Singapore, or any other applicable governmental authority;
(c) A person who is the subject of any sanctions administered or enforced by the authorities listed above;
(d) A person acting on behalf of, or for the benefit of, any person described in clauses (a) through (c) above.
2.3. You further represent and warrant that your use of the Services will not cause the Company, its affiliates, or any other party to violate any applicable laws, regulations, or sanctions.
2.4. The Company reserves the right to restrict, suspend, or terminate access to the Services at any time if it reasonably suspects that a user is a Restricted Person or is otherwise in violation of these Terms.
3. Restricted Jurisdictions
3.1. The Services are not available to persons located in, incorporated in, or citizens of any of the following jurisdictions (collectively, "Restricted Jurisdictions"):
The United States of America, including its territories and possessions (the "United States");
The Islamic Republic of Iran;
The Democratic People's Republic of Korea (North Korea);
The Syrian Arab Republic;
The Republic of Cuba;
The Crimea region of Ukraine;
The Donetsk People's Republic and Luhansk People's Republic regions of Ukraine;
The Republic of Belarus;
The Republic of Myanmar (Burma);
Any other jurisdiction subject to comprehensive sanctions by OFAC, the European Union, or the United Nations Security Council;
Any other jurisdiction in which the use of the Services would be prohibited by applicable law or regulation.
3.2. The foregoing list is non-exhaustive and may be updated at any time at the Company's sole discretion. It is your responsibility to ensure that your use of the Services is lawful in your jurisdiction.
4. Prohibition on VPN Circumvention
4.1. You shall not use a virtual private network ("VPN"), proxy service, or any other tool, technique, or technology to disguise your location, circumvent geographic restrictions, or otherwise misrepresent your jurisdiction of residence or presence for the purpose of accessing the Services from a Restricted Jurisdiction.
4.2. Any attempt to circumvent the geographic restrictions set forth in these Terms constitutes a material breach and may result in immediate and permanent termination of your access to the Services, without notice or liability.
4.3. The Company employs geographic restriction measures and reserves the right to deploy additional detection mechanisms at any time. The Company shall not be liable for any inability to detect or prevent circumvention.
5. Description of Services
5.1. Nature of the Services. The App provides a web-based interface that allows users to interact with the Protocol, which consists of non-custodial smart contracts deployed on public blockchains. The Services enable users to:
(a) Deposit digital assets into lending markets to earn variable yield from insurance premium spreads ("Earn");
(b) Borrow digital assets against posted collateral, where each loan is automatically hedged with put options on the borrower's collateral ("Borrow");
(c) Purchase collateral from expired loans through Dutch auctions at a discount ("Deals").
5.2. Non-Custodial. The Company does not hold, control, custody, or have access to your digital assets, private keys, or cryptocurrency wallets at any time. All transactions are executed directly on the blockchain through interactions with the Protocol's smart contracts. You are solely responsible for the security and management of your private keys and wallet credentials.
5.3. Protocol vs. Interface. The App is an interface that facilitates interaction with the Protocol. The Protocol operates autonomously on the blockchain and may be accessed through means other than the App. The Company does not control the Protocol once deployed, except to the extent of governance actions executed through the Protocol's multisig governance mechanism (a 3-of-5 Gnosis Safe multisig) and UUPS upgrade functionality subject to timelock.
5.4. No Account Creation. The Services do not require account creation. Users access the Services by connecting a compatible cryptocurrency wallet. The Company does not collect or store passwords, personal identification information, or account credentials beyond what is necessary to provide the Services and as described in the Privacy Policy.
5.5. Idle Yield. Deposited funds that are not allocated to active loans may be deployed to third-party decentralized finance protocols, including but not limited to Aave, to generate base yield. Such deployment is automated and subject to the risks associated with those third-party protocols.
6. Variable Yield and No Guarantee of Returns
6.1. Yield is variable. Any yield, annual percentage yield ("APY"), annual percentage rate ("APR"), or return displayed on the App is an estimate based on current and historical market conditions, including but not limited to utilization rates, implied volatility of collateral assets, loan durations, and options market pricing. These figures are provided for informational purposes only and are not a guarantee, promise, or representation of future returns.
6.2. Past performance is not indicative of future results. Historical yields, backtesting results, and simulated performance data are not predictive of actual future performance. Market conditions, options pricing, utilization rates, and other factors may change materially and without warning.
6.3. Risk of loss. You acknowledge and accept that:
(a) You may receive less yield than anticipated, including zero yield;
(b) You may lose some or all of your deposited digital assets;
(c) The value of digital assets is volatile and may decline substantially;
(d) Insurance mechanisms, including put options and the insurance vault, may not fully cover losses in all scenarios;
(e) Smart contract failures, oracle malfunctions, options counterparty failures, and other technical or market events may result in partial or total loss of funds.
6.4. You are solely responsible for evaluating the risks associated with using the Services and making your own independent determination regarding the suitability of any transaction.
7. Smart Contract Risks
7.1. The Protocol is implemented through smart contracts deployed on public blockchains. While the Protocol's smart contracts have been audited by Cantina and Pashov Audit Group, and all identified findings have been resolved, you acknowledge and accept that:
(a) No audit eliminates all risk. Audits are point-in-time assessments and may not identify all vulnerabilities, exploits, or logic errors;
(b) Smart contracts are immutable once deployed and may contain undiscovered bugs, vulnerabilities, or defects;
(c) The Protocol uses UUPS upgradeable proxy contracts. While upgrades are subject to a timelock and require approval by a 3-of-5 multisig, upgrades may introduce new risks, including unintended behavior or vulnerabilities;
(d) Blockchain networks may experience congestion, downtime, forks, or other disruptions that may impair the operation of the Protocol;
(e) Transactions on the blockchain are irreversible. Errors, including sending assets to incorrect addresses or approving unintended transactions, cannot be reversed by the Company;
(f) The Company does not and cannot guarantee the continuous, uninterrupted, or error-free operation of the Protocol or the App.
8. Third-Party Dependencies
8.1. The Protocol relies on third-party services, protocols, and infrastructure, including but not limited to:
(a) Oracles providing price feeds for collateral valuation and loan pricing;
(b) Options venues and market makers for the purchase and settlement of put options that hedge loans;
(c) Aave and potentially other decentralized finance protocols for the deployment of idle capital;
(d) Blockchain networks (including Ethereum and Starknet) for transaction execution and settlement;
(e) Wallet providers for signing and broadcasting transactions.
8.2. The Company has no control over these third-party services and makes no representations or warranties regarding their availability, accuracy, reliability, security, or performance. Failures, errors, exploits, or discontinuations of any third-party service may materially impair the operation of the Protocol and result in loss of funds.
8.3. You acknowledge and accept all risks associated with these third-party dependencies. The Company shall not be liable for any loss or damage arising from the acts, omissions, errors, or failures of any third party.
9. No Investment Advice
9.1. The Services, including any information, data, or content provided through the App, do not constitute and shall not be construed as investment advice, financial advice, tax advice, trading advice, legal advice, or any other form of professional advice.
9.2. The Company does not recommend any particular digital asset, transaction, strategy, or course of action. Any information provided through the App, including yield estimates, risk indicators, and market data, is for informational purposes only.
9.3. You should consult your own legal, financial, tax, and other professional advisors before engaging in any transaction through the Services. The Company assumes no fiduciary duty or obligation to you.
10. Not a Broker, Exchange, or Financial Intermediary
10.1. The Company is not a broker, dealer, exchange, custodian, investment adviser, money services business, money transmitter, or financial intermediary of any kind. The Company does not:
(a) Execute trades or transactions on your behalf;
(b) Hold, custody, or control your digital assets;
(c) Match buyers and sellers or facilitate order books;
(d) Provide margin lending, leveraged trading, or derivative products directly;
(e) Issue, underwrite, or distribute securities or financial instruments.
10.2. The App is a software interface. The Protocol is a set of autonomous smart contracts. Neither the App nor the Protocol constitutes a financial product or service regulated as such under the laws of Singapore or any other jurisdiction, to the extent permitted by applicable law.
11. User Responsibilities and Prohibited Conduct
11.1. You are solely responsible for:
(a) The security of your private keys, wallet credentials, and seed phrases;
(b) Verifying the details and consequences of every transaction before execution;
(c) Complying with all applicable laws, regulations, and tax obligations in your jurisdiction;
(d) Ensuring that your use of the Services does not violate any applicable sanctions, export controls, or anti-money laundering laws;
(e) Any tax reporting or withholding obligations arising from your transactions.
11.2. You agree not to:
(a) Use the Services for any unlawful purpose, including money laundering, terrorist financing, fraud, or sanctions evasion;
(b) Attempt to gain unauthorized access to the App, the Protocol, or any related systems or networks;
(c) Introduce malware, viruses, or other harmful code;
(d) Interfere with or disrupt the operation of the Services;
(e) Reverse engineer, decompile, or disassemble any aspect of the App or the Protocol, except to the extent permitted by applicable law;
(f) Use automated scripts, bots, or similar technologies to interact with the App in a manner that degrades performance or circumvents access controls (excluding legitimate programmatic interaction with the Protocol's smart contracts);
(g) Misrepresent your identity, location, or eligibility;
(h) Use the Services in any manner that could expose the Company to legal liability in any jurisdiction.
12. Intellectual Property
12.1. The App, including its design, code, graphics, text, logos, trademarks, and all other intellectual property embodied therein (collectively, "Company IP"), is the exclusive property of the Company or its licensors and is protected by applicable intellectual property laws.
12.2. Subject to your compliance with these Terms, the Company grants you a limited, non-exclusive, non-transferable, non-sublicensable, revocable license to access and use the App solely for your personal, non-commercial use in connection with the Services.
12.3. You may not copy, modify, distribute, sell, lease, license, or create derivative works from the Company IP without the prior written consent of the Company.
12.4. Nothing in these Terms grants you any right, title, or interest in the Company IP except the limited license described above.
12.5. The Protocol's smart contracts are deployed on public blockchains and may be subject to separate open-source licenses. These Terms do not restrict any rights granted under applicable open-source licenses.
13. Disclaimers
13.1. AS IS AND AS AVAILABLE. THE SERVICES ARE PROVIDED ON AN "AS IS" AND "AS AVAILABLE" BASIS, WITHOUT WARRANTIES OF ANY KIND, WHETHER EXPRESS, IMPLIED, OR STATUTORY, INCLUDING BUT NOT LIMITED TO IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE, NON-INFRINGEMENT, ACCURACY, RELIABILITY, OR AVAILABILITY.
13.2. THE COMPANY DOES NOT WARRANT THAT:
(a) THE SERVICES WILL MEET YOUR REQUIREMENTS OR EXPECTATIONS;
(b) THE SERVICES WILL BE UNINTERRUPTED, TIMELY, SECURE, OR ERROR-FREE;
(c) THE RESULTS OBTAINED FROM THE USE OF THE SERVICES WILL BE ACCURATE OR RELIABLE;
(d) ANY DEFECTS IN THE SERVICES WILL BE CORRECTED;
(e) THE SERVICES WILL BE FREE FROM VIRUSES, MALWARE, OR OTHER HARMFUL COMPONENTS;
(f) ANY DIGITAL ASSET TRANSACTION WILL BE COMPLETED SUCCESSFULLY.
13.3. NO ADVICE OR INFORMATION, WHETHER ORAL OR WRITTEN, OBTAINED FROM THE COMPANY OR THROUGH THE SERVICES SHALL CREATE ANY WARRANTY NOT EXPRESSLY STATED IN THESE TERMS.
14. Limitation of Liability
14.1. TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, IN NO EVENT SHALL THE COMPANY, ITS DIRECTORS, OFFICERS, EMPLOYEES, AGENTS, AFFILIATES, SUCCESSORS, OR ASSIGNS (COLLECTIVELY, THE "COMPANY PARTIES") BE LIABLE FOR:
(a) ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, EXEMPLARY, OR PUNITIVE DAMAGES;
(b) ANY LOSS OF PROFITS, REVENUE, DATA, USE, GOODWILL, OR OTHER INTANGIBLE LOSSES;
(c) ANY LOSS OF OR DAMAGE TO DIGITAL ASSETS, INCLUDING BUT NOT LIMITED TO LOSS RESULTING FROM SMART CONTRACT EXPLOITS, ORACLE FAILURES, OPTIONS COUNTERPARTY DEFAULTS, BLOCKCHAIN NETWORK DISRUPTIONS, OR MARKET VOLATILITY;
(d) ANY DAMAGES ARISING FROM YOUR USE OF OR INABILITY TO USE THE SERVICES;
(e) ANY DAMAGES ARISING FROM UNAUTHORIZED ACCESS TO OR ALTERATION OF YOUR TRANSMISSIONS OR DATA;
(f) ANY DAMAGES ARISING FROM THE CONDUCT OF ANY THIRD PARTY IN CONNECTION WITH THE SERVICES;
WHETHER BASED ON WARRANTY, CONTRACT, TORT (INCLUDING NEGLIGENCE), STATUTE, OR ANY OTHER LEGAL THEORY, AND WHETHER OR NOT THE COMPANY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.
14.2. TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, THE AGGREGATE LIABILITY OF THE COMPANY PARTIES ARISING OUT OF OR RELATED TO THESE TERMS OR THE SERVICES SHALL NOT EXCEED ONE HUNDRED SINGAPORE DOLLARS (SGD 100.00).
14.3. THE LIMITATIONS OF LIABILITY SET FORTH IN THIS SECTION SHALL APPLY TO THE FULLEST EXTENT PERMITTED BY LAW IN THE APPLICABLE JURISDICTION. SOME JURISDICTIONS DO NOT ALLOW THE EXCLUSION OR LIMITATION OF CERTAIN DAMAGES, SO SOME OF THE ABOVE LIMITATIONS MAY NOT APPLY TO YOU. IN SUCH JURISDICTIONS, THE LIABILITY OF THE COMPANY PARTIES SHALL BE LIMITED TO THE GREATEST EXTENT PERMITTED BY LAW.
15. Indemnification
15.1. You agree to indemnify, defend, and hold harmless the Company Parties from and against any and all claims, demands, actions, suits, proceedings, losses, damages, liabilities, costs, and expenses (including reasonable attorneys' fees and legal costs) arising out of or relating to:
(a) Your use of or access to the Services;
(b) Your violation of these Terms;
(c) Your violation of any applicable law, regulation, or rights of any third party;
(d) Your negligence, willful misconduct, or fraud;
(e) Any transaction you execute through the Services;
(f) Any dispute between you and any other user or third party.
15.2. The Company reserves the right, at your expense, to assume the exclusive defense and control of any matter for which you are required to indemnify the Company Parties, and you agree to cooperate with the Company's defense of such claims.
16. Governing Law
16.1. These Terms and any dispute arising out of or in connection with these Terms, including any question regarding their existence, validity, or termination, shall be governed by and construed in accordance with the laws of the Republic of Singapore, without regard to its conflict of laws provisions.
17. Dispute Resolution
17.1. Informal Resolution. Before initiating any formal dispute resolution proceeding, you agree to first contact the Company at [email protected] to attempt to resolve any dispute informally. The parties shall use reasonable efforts to settle any dispute through good faith negotiation for a period of thirty (30) days from the date of the initial notice.
17.2. Arbitration. If the dispute is not resolved through informal negotiation within thirty (30) days, any dispute arising out of or in connection with these Terms, including any question regarding their existence, validity, or termination, shall be referred to and finally resolved by arbitration administered by the Singapore International Arbitration Centre ("SIAC") in accordance with the SIAC Arbitration Rules for the time being in force, which rules are deemed to be incorporated by reference into this clause. The seat of arbitration shall be Singapore. The tribunal shall consist of one (1) arbitrator. The language of the arbitration shall be English.
17.3. Class Action Waiver. TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, YOU AGREE THAT ANY DISPUTE RESOLUTION PROCEEDINGS WILL BE CONDUCTED ONLY ON AN INDIVIDUAL BASIS AND NOT IN A CLASS, CONSOLIDATED, OR REPRESENTATIVE ACTION. YOU WAIVE ANY RIGHT TO PARTICIPATE IN A CLASS ACTION OR CLASS-WIDE ARBITRATION.
17.4. Injunctive Relief. Notwithstanding the foregoing, the Company may seek injunctive or other equitable relief in any court of competent jurisdiction to prevent the actual or threatened infringement, misappropriation, or violation of the Company's intellectual property rights or confidential information.
18. Modification of Terms
18.1. The Company reserves the right to modify, amend, or replace these Terms at any time at its sole discretion. If a revision is material, the Company will use reasonable efforts to provide notice prior to the new terms taking effect, such as by posting a notice on the App or updating the "Last Updated" date at the top of these Terms.
18.2. Your continued use of the Services after the effective date of any revised Terms constitutes your acceptance of the revised Terms. If you do not agree to the revised Terms, you must immediately cease using the Services.
18.3. It is your responsibility to review these Terms periodically for changes.
19. Termination
19.1. The Company may, at its sole discretion and without prior notice, restrict, suspend, or terminate your access to all or any part of the Services at any time and for any reason, including but not limited to a breach or suspected breach of these Terms.
19.2. You may discontinue your use of the Services at any time. Discontinuation does not relieve you of any obligations incurred prior to discontinuation, including any outstanding loan repayment obligations or liabilities.
19.3. Upon termination, all rights and licenses granted to you under these Terms shall immediately cease. Sections 6, 7, 8, 9, 10, 12, 13, 14, 15, 16, 17, and 20 shall survive any termination of these Terms.
20. General Provisions
20.1. Entire Agreement. These Terms, together with the Privacy Policy, constitute the entire agreement between you and the Company regarding the Services and supersede all prior or contemporaneous agreements, representations, warranties, and understandings.
20.2. Severability. If any provision of these Terms is held to be invalid, illegal, or unenforceable, the remaining provisions shall continue in full force and effect. The invalid provision shall be modified to the minimum extent necessary to make it valid and enforceable while preserving its original intent.
20.3. Waiver. The failure of the Company to exercise or enforce any right or provision of these Terms shall not constitute a waiver of such right or provision. A waiver of any provision of these Terms shall be effective only if made in writing and signed by the Company.
20.4. Assignment. You may not assign or transfer these Terms or any rights or obligations hereunder without the prior written consent of the Company. The Company may freely assign these Terms without restriction.
20.5. Force Majeure. The Company shall not be liable for any failure or delay in performing its obligations under these Terms due to circumstances beyond its reasonable control, including but not limited to natural disasters, acts of government, war, terrorism, epidemics, blockchain network failures, cyberattacks, or disruptions to third-party services.
20.6. No Third-Party Beneficiaries. These Terms do not confer any rights or benefits on any third party, except as expressly provided herein.
20.7. Headings. The section headings in these Terms are for convenience only and shall not affect the interpretation of these Terms.
21. Contact Information
If you have any questions about these Terms, please contact us at:
Stormbit Labs Pte. Ltd.
Email: [email protected]
By using the Services, you acknowledge that you have read, understood, and agree to be bound by these Terms of Service.
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