Terms of Service

Last Updated: 15 January 2025

PLEASE READ THESE TERMS OF SERVICE CAREFULLY. BY ACCESSING OR USING EVOQ FINANCE ("SITE" OR "SERVICES"), YOU AGREE TO BE BOUND BY THESE TERMS OF SERVICE ("TERMS"). IF YOU DO NOT AGREE TO THESE TERMS, DO NOT ACCESS OR USE THE SITE OR SERVICES.

1. Introduction

These Terms of Service ("Terms") are a legally binding agreement between:

  • Evoq Labs Software Design - FZCO ("Evoq Finance," "we," "us," or "our"), a company incorporated under the laws of the United Arab Emirates ("UAE"), having its registered office at 55306-001, IFZA Business Park, DDP, Dubai Silicon Oasis, Dubai, UAE, and
  • You ("User," "you," or "your"), the individual or entity accessing or using the Site or Services.

These Terms govern your access to and use of the Evoq Finance website located at https://evoq.finance (the "Site") and any related services provided by Evoq Finance (collectively, the "Services").

By accessing or using the Site or Services, you acknowledge that you have read, understood, and agree to be bound by these Terms and our Privacy Policy, incorporated herein by reference.

Evoq Finance operates in compliance with the laws and regulations of the UAE, including those issued by the Dubai Silicon Oasis Authority (DSOA), UAE Central Bank, and other applicable regulatory bodies.

2. Governing Law and Jurisdiction

These Terms, and any dispute or claim arising out of or in connection with them or their subject matter, shall be governed by and construed in accordance with the laws of the UAE, as enforced by the Dubai International Financial Centre (DIFC) Courts or other UAE courts of competent jurisdiction, unless otherwise agreed in writing.

Disputes may also be resolved through arbitration in the UAE in accordance with the rules of the Dubai International Arbitration Centre (DIAC).

3. Compliance with UAE Regulations

By accessing or using the Site or Services, you agree to comply with all applicable UAE laws and regulations, including but not limited to those related to anti-money laundering (AML), counter-terrorism financing (CTF), data protection, consumer protection, and electronic transactions. Users are responsible for ensuring compliance with any other applicable laws in their jurisdiction.

4. Definitions

In addition to terms defined elsewhere in these Terms, the following capitalized terms shall have the meanings set forth below, whether used in the singular or plural.

  • "Blockchain": A transparent, secure information storage and transmission technology that operates without a central control body, using distributed ledger technology.
  • "Digital Asset": Any digital representation of value or rights that can be transferred and stored electronically, using blockchain technology, including cryptocurrencies and tokens.
  • "Evoq Finance Protocol": A decentralized, non-custodial protocol developed by Evoq Finance that enables Users to participate in various decentralized finance activities.
  • "Fees": Any fees, charges, or costs associated with the use of the Services, including but not limited to transaction fees, performance fees, or other applicable fees.
  • "Services": The Site and any related services provided by Evoq Finance that offer information, access, and interaction with the Evoq Finance Protocol.
  • "User": Any individual or entity who accesses or uses the Site or Services.
  • "Wallet": A software application or hardware device that allows individuals to store and manage their Digital Assets and interact with blockchain networks.

5. Description of Services

Evoq Finance provides informational resources and access to the decentralized, non-custodial Evoq Finance Protocol in accordance with the laws and regulations of the United Arab Emirates (UAE). The Services include:

  • 5.1. Access to Information: Providing access to documentation, tutorials, and resources related to the Evoq Finance Protocol. All informational resources are compliant with UAE regulations and are designed for educational purposes only.
  • 5.2. Interaction with Protocol: Offering a front-end interface that allows Users to interact with the Evoq Finance Protocol to supply liquidity, borrow assets, and participate in decentralized finance activities. Users are solely responsible for ensuring their interactions comply with applicable UAE laws, including those related to financial transactions and cryptocurrencies.
  • 5.3. Educational Content: Offering educational materials to help Users understand blockchain technology and decentralized finance. These materials are curated to align with the UAE's focus on fostering innovation and knowledge-based economic development.
  • 5.4. Community Engagement: Facilitating community forums and discussions about the Evoq Finance Protocol and related topics. Community interactions must adhere to UAE's cybercrime laws and respect cultural sensitivities.

Disclaimer: Evoq Finance does not control or operate any version of the Evoq Finance Protocol on any blockchain network. Evoq Finance does not facilitate, broker, or execute transactions on behalf of Users in a custodial capacity. Evoq Finance does not have possession, custody, or control over any User's Digital Assets. All Users are responsible for understanding and adhering to UAE regulations governing digital assets and decentralized finance activities.

6. Fees

Evoq Finance does not charge Users any fees for accessing the Site or Services. However, interactions with the Evoq Finance Protocol or blockchain networks may involve third-party fees, such as transaction fees (e.g., gas fees) charged by the blockchain network or associated third parties. These third-party fees are subject to the applicable regulations and governance frameworks of the United Arab Emirates.

  • 6.1. Transaction Fees: Users are solely responsible for paying any fees associated with transactions on blockchain networks, including but not limited to gas fees. Evoq Finance does not impose or collect these fees, which are determined by the blockchain protocols or third-party service providers.
  • 6.2. No Refunds: All fees related to blockchain transactions are non-refundable. Users acknowledge that once transactions are processed on the blockchain, they cannot be reversed or refunded.
  • 6.3. User Responsibility:
    • 6.3.1. Sufficient Balance: Users are responsible for ensuring they have a sufficient balance in their digital wallets to complete transactions, including fees incurred on the blockchain network.
    • 6.3.2. Fee Obligations: Users are solely responsible for covering all fees incurred through the use of the Services and interactions with the Evoq Finance Protocol.
    • 6.3.3. Tax Obligations: Users are responsible for determining any applicable taxes on their transactions under UAE law, including VAT or other relevant levies. Users must withhold, collect, report, and remit any taxes to the appropriate UAE tax authorities in compliance with applicable regulations. Evoq Finance does not provide tax advice or act as a tax intermediary.

Disclaimer: Evoq Finance emphasizes that the responsibility for understanding and adhering to UAE-specific tax and fee regulations lies entirely with the User. Users are encouraged to seek professional advice regarding their tax and financial obligations.

7. Assumption of Risk

By accessing or using the Site or Services, you acknowledge and agree to the following, in alignment with the legal and regulatory environment of the United Arab Emirates:

  • 7.1. Blockchain Risks: Interacting with blockchain technologies involves significant risks, including but not limited to market volatility, technical vulnerabilities, and regulatory uncertainty. Users should exercise caution and conduct thorough research before participating.
  • 7.2. Smart Contract Risks: The Evoq Finance Protocol operates through smart contracts on blockchain networks. Smart contracts are subject to risks such as bugs, technical malfunctions, unauthorized access (cyberattacks), or modifications in protocol rules. Evoq Finance bears no liability for these risks.
  • 7.3. No Control Over Blockchain Networks: Evoq Finance does not control or manage any blockchain network. As a result, Evoq Finance has no ability to influence the operations, technical stability, or governance of blockchain technologies.
  • 7.4. Irreversible Transactions: Transactions conducted on blockchain networks are final and cannot be reversed, canceled, or altered once submitted. Evoq Finance has no capacity to intervene or mediate in blockchain transactions.
  • 7.5. Security of Wallets and Private Keys: Users are solely responsible for maintaining the security of their wallets and private keys. Evoq Finance does not store, access, or manage private keys and cannot assist with recovery if keys are lost, stolen, or compromised. Users are urged to adopt stringent security measures.
  • 7.6. No Guarantee of Value: Digital Assets are highly volatile, and their value is influenced by subjective market perceptions. Evoq Finance makes no warranties or representations regarding the value, stability, or performance of any Digital Asset.
  • 7.7. Regulatory Risks: The regulatory framework governing blockchain technologies and Digital Assets in the UAE is dynamic and subject to change. Users must ensure compliance with UAE laws, including those related to Digital Asset transactions, financial activities, and anti-money laundering (AML) regulations.
  • 7.8. Assumption of Full Risk: Users assume full responsibility for all risks associated with the use of the Services and the Evoq Finance Protocol. This includes potential loss or devaluation of Digital Assets, technical errors, and regulatory implications.

Disclaimer: Users are advised to consult with legal, financial, and technical experts to understand the risks and responsibilities associated with blockchain technology and Digital Asset transactions in the UAE.

8. No Professional Advice

  • 8.1. Informational Purposes Only: All content and resources provided on the Site and through the Services are for informational purposes only. They should not be interpreted as professional advice or guidance specific to individual circumstances.
  • 8.2. No Financial, Legal, or Tax Advice: Evoq Finance does not offer financial, investment, legal, or tax advice. Users are encouraged to consult qualified professionals licensed in the United Arab Emirates for guidance tailored to their specific financial, legal, or tax-related situations.
  • 8.3. Independent Decision-Making: Users acknowledge and agree that all decisions and actions related to interactions with blockchain technologies or the Evoq Finance Protocol are made independently. Evoq Finance disclaims liability for outcomes resulting from users' decisions.

Disclaimer: Users should exercise due diligence and seek expert advice as needed to ensure compliance with UAE regulations and to make informed decisions regarding blockchain technology and Digital Assets.

9. User Conduct and Prohibited Activities

Users are strictly prohibited from using the Site or Services for activities that violate UAE laws, including but not limited to:

  • Activities contrary to public morals, Islamic Sharia, or UAE cybercrime laws.
  • Facilitating or promoting illegal activities, such as money laundering, fraud, or the financing of terrorism.
  • Using false documentation, including Know Your Customer (KYC) or identity verification documents.
  • Violating intellectual property laws, defamation laws, or privacy regulations applicable in the UAE.

Enforcement: Evoq Finance reserves the right to investigate violations of these Terms and may take appropriate legal action, including but not limited to restricting or terminating your access to the Services and reporting such violations to UAE law enforcement authorities and regulatory bodies in investigating violations.

10. Intellectual Property Rights

  • 10.1. Ownership: Evoq Finance and its licensors retain all rights, title, and interest in and to the intellectual property associated with the Site and Services, including but not limited to trademarks, copyrights, software, databases, and documentation.
  • 10.2. UAE Protection: All intellectual property is protected under Federal Law No. 36 of 2021 (Trademark Law) and Federal Law No. 38 of 2021 (Copyright Law). Unauthorized use, reproduction, distribution, or modification of Evoq Finance's intellectual property is strictly prohibited and may result in legal action.
  • 10.3. User Obligations:
    • 10.3.1. Prohibition of Unauthorized Use: Users may not copy, reproduce, distribute, publicly display, or create derivative works from any content provided by Evoq Finance without prior written consent.
    • 10.3.2. Reporting Violations: Users are encouraged to report any unauthorized use of Evoq Finance's intellectual property to info@evoq.finance.
  • 10.4. Enforcement: Evoq Finance reserves the right to enforce its intellectual property rights under UAE laws and may seek remedies, including but not limited to damages, injunctions, and penalties as provided under applicable legislation.
  • 10.5. Trademarks: The Evoq Finance name, logo, and any associated branding elements are registered trademarks under UAE law. Users are prohibited from using such trademarks in any manner that implies endorsement or affiliation without written authorization.
  • 10.6. License to Use: Subject to these Terms, Evoq Finance grants users a limited, revocable, non-transferable license to access and use the Site and Services solely for personal, non-commercial purposes.

11. Modifications and Termination

Evoq Finance may amend these Terms at its discretion to ensure compliance with the evolving legal landscape of the UAE. Users will be notified of significant changes via email or announcements on the Site. Continued use of the Services constitutes acceptance of the modified Terms.

12. Disclaimers and Limitation of Liability

PLEASE READ THIS SECTION CAREFULLY, AS IT LIMITS THE LIABILITY OF EVOQ FINANCE AND RELATED PARTIES.

  • 12.1. "As Is" and "As Available": The Site and Services are provided on an "AS IS" and "AS AVAILABLE" basis without any guarantees or warranties, either express or implied.
  • 12.2. No Warranties: Evoq Finance disclaims all express or implied warranties, including but not limited to warranties of merchantability, fitness for a particular purpose, and non-infringement.
  • 12.3. No Guarantee of Accuracy: Evoq Finance does not guarantee that the Site or Services will be accurate, reliable, uninterrupted, error-free, secure, or free of viruses or harmful components.
  • 12.4. Limitation of Liability: To the maximum extent permitted by UAE law, Evoq Finance, its affiliates, and their respective directors, officers, employees, agents, and licensors shall not be liable for:
    • 12.4.1. Indirect Damages: Any indirect, incidental, special, consequential, or punitive damages.
    • 12.4.2. Losses: Any loss of profits, data, use, goodwill, or other intangible losses.
    • 12.4.3. Aggregate Liability: Total liability of Evoq Finance for claims arising from these Terms or the use of the Site and Services shall not exceed the equivalent of AED 3,670 (USD $1,000).
  • 12.5. Exclusions: In accordance with UAE law, some limitations of liability may not apply in cases of gross negligence, willful misconduct, or other circumstances where liability cannot be legally excluded.

Disclaimer: Users are encouraged to understand and consider the risks and liabilities associated with their use of blockchain technologies and related services.

13. Dispute Resolution and Governing Law

If a dispute arises, the parties agree to first attempt resolution through good-faith negotiations. If a resolution cannot be reached, disputes shall be referred to arbitration or settled in UAE courts. Arbitration proceedings shall occur in English, with the seat of arbitration in Dubai, UAE.

14. Assignment

  • 14.1. By You: You may not assign or transfer any rights or obligations under these Terms without our prior written consent.
  • 14.2. By Evoq Finance: Evoq Finance may assign or transfer its rights and obligations under these Terms to any third party at any time without notice or consent.

15. Force Majeure

Evoq Finance shall not be liable for any failure or delay in performance due to causes beyond its reasonable control, including but not limited to acts of God, war, terrorism, riots, embargoes, governmental actions, labor disputes, or failure of the internet or any public network.

16. No Third-Party Beneficiaries

These Terms do not and are not intended to confer any rights or remedies upon any person other than you and Evoq Finance.

17. Language

These Terms are written in English. If they are translated into any other language, the English version shall prevail in the event of any conflict or discrepancy.

18. Entire Agreement and Severability

  • 18.1. Entire Agreement: These Terms, together with our Privacy Policy, constitute the entire agreement between you and Evoq Finance regarding the Site and Services and supersede all prior and contemporaneous understandings.
  • 18.2. Severability: If any provision of these Terms is held to be invalid or unenforceable, such provision shall be severed, and the remaining provisions shall remain in full force and effect.
  • 18.3. Waiver: No waiver of any term of these Terms shall be deemed a further or continuing waiver of such term or any other term.

19. Consumer Rights and Withdrawal

  • 19.1. Consumer Withdrawal Rights: If you are considered a consumer under the laws of your jurisdiction, you may have certain rights or remedies that cannot be excluded, restricted, or modified by contract. Nothing in these Terms is intended to exclude, restrict, or modify any rights or remedies you may have under applicable law.
  • 19.2. Immediate Execution of Services: By using the Services, you acknowledge that any blockchain transactions are executed immediately, and you expressly waive any right of withdrawal or cooling-off period to the extent permitted by applicable law.

20. Contact Information

If you have any questions about these Terms or the Site, please contact us at: info@evoq.finance.

BY ACCESSING OR USING THE SITE OR SERVICES, YOU ACKNOWLEDGE THAT YOU HAVE READ, UNDERSTOOD, AND AGREED TO BE BOUND BY THESE TERMS OF SERVICE.

Note: The Evoq Finance Protocol may involve complex functionalities and interactions with blockchain networks. Users are encouraged to thoroughly review all available documentation and consult with professionals if necessary to fully understand the associated risks, Fees, and responsibilities.