These Terms of Use (the “Terms”) govern the use of the SKX Wallet mobile application and related services (collectively, the “Services”) provided by Fast Content, Sociedad de Responsabilidad Limitada (“Company,” “we,” “us,” or “our”), a company incorporated and existing under the laws of Costa Rica (Corporate ID: 3-102-915012).
By accessing or using the Services, you agree to be bound by these Terms. If you do not agree, do not use the Services.
1. Applicability and Acceptance
These Terms constitute a legally binding agreement between you and the Company. We may amend these Terms at any time to reflect changes in the law or our Services. Continued use of the Services after changes are posted constitutes acceptance of the amended Terms.
2. Description of Services
SKX Wallet provides a user interface to interact with various blockchain protocols, including:
- Non-Custodial Wallet: Sending, receiving, and managing digital asset lists where the user retains total control of their private keys.
- Subscription & Quest System: A platform participation model where users can subscribe to services and complete daily quests to support the ecosystem.
- Relay Bridge (DEX Aggregator): Integration of decentralized exchange aggregators allowing users to swap tokens, including swapping USDH for SKXM (Reward Token on the Base chain).
- Digital Voucher Store: A marketplace for purchasing digital vouchers (e.g., $200 items) in compliance with mobile store policies.
- L3 SKXCHAIN Integration: Future support for the SKXCHAIN ecosystem (https://skxchain.com/).
3. Non-Custodial Nature (Dynamic Wallet)
User Control: SKX Wallet is based on Dynamic Wallet technology. The Services are non-custodial; the Company does not store or have access to your private keys, seed phrases, or recovery information.
Sole Responsibility: You are solely responsible for backing up and securing your private keys. If you lose your private keys, the Company cannot recover them, and you will permanently lose access to your assets.
4. Subscription and Quest Mechanism
- Subscription Fee: Users may pay a monthly subscription fee (e.g., $100 USDC). You acknowledge that this fee is used for platform operations and maintenance of the ecosystem.
- Quest System: Users may participate in "Quests" by purchasing designated token bundles. You acknowledge that these funds are transferred to operation and foundation wallets to support active blockchain projects.
- USDH Rewards: In consideration for your participation in the ecosystem and completion of quests, the Company grants you USDH (Platform Point Tokens). USDH is a reward for platform contribution and does not constitute a security or an investment contract.
5. USDH Tokenomics and Unlocking Logic
Locked vs. Unlocked: Rewards granted through subscriptions or referrals are initially "Locked."
Unlocking Conditions: To convert Locked USDH to Unlocked USDH, you must:
- Maintain an Active Subscription status.
- Successfully complete Daily Quests.
Unlock Rate: Upon meeting conditions, 0.5% of your total Locked USDH is released daily.
Operational Fee (Tax): A 30% operational fee is applied to the released amount. The net amount credited to your "Available USDH" balance will be the released amount minus this fee.
Conversion: Unlocked USDH can be swapped for SKXM or other tokens designated by the Admin at the prevailing market rate determined by decentralized protocols (e.g., Uniswap).
6. Referral and Bonus Program
Referrer Bonus: If you refer a new user who pays a subscription fee, you may receive a bonus in Locked USDH (e.g., up to 50% of the subscription value).
Unlocking Referral Bonus: To unlock referral bonuses, the referrer must maintain an active subscription and complete their own missions/quests.
No Multi-Level Marketing (MLM): This program is a simple direct-referral reward system. The Company strictly prohibits and does not engage in multi-level marketing, pyramid schemes, or any illegal financial structures.
7. Digital Vouchers
In-app purchases for items (e.g., $200) are defined as "Digital Vouchers." These vouchers are for specific platform uses or partner products.
All digital voucher purchases are final and are subject to the refund policies of the respective App Store (Apple) or Play Store (Google).
8. Prohibited Activities
The Company maintains a zero-tolerance policy toward illegal activities. You agree NOT to use the Services for:
- Any illegal act or violation of Costa Rican or international law.
- Money laundering or terrorist financing.
- Organizing or promoting multi-level marketing (MLM) or Ponzi schemes.
- Fraudulent activities or misrepresentation of the reward system.
- Any attempt to manipulate the Quest system or Unlocking logic through automated means or exploits.
9. Risk Disclosure and Limitation of Liability
Market Volatility: Digital assets like SKXM are subject to extreme price volatility. The Company does not guarantee any specific value for rewards.
Blockchain Risk: Technical risks including smart contract vulnerabilities, network congestion on the Base chain, or forks are beyond the Company's control.
No Financial Advice: Nothing in the Services or this agreement constitutes financial, legal, or tax advice.
Limitation: To the maximum extent permitted by law, the Company’s liability is limited to the total fees paid by the user to the Company in the three (3) months preceding the event giving rise to the claim.
10. Account Deletion and Compliance
Data Export: Users can export their private keys via the Settings menu at any time.
Account Deletion: Users may request account deletion through the app settings. Upon deletion, local data is removed, but blockchain transaction history remains permanent and public.
11. Governing Law and Jurisdiction
These Terms are governed by the laws of Costa Rica. Any dispute arising from these Terms shall be resolved exclusively by the competent courts of San José, Costa Rica.
12. Contact Information
Fast Content, S.R.L.
Website: https://skxpanax.net/
Email: support@skxpanax.net