Annex B: KRIPTOMAT WEB3 WALLET

Introduction 

Kriptomat Web3 Wallet is a custody web3 wallet that enables user-friendly custody of your crypto assets including NFTs. By using Kriptomat Web3 Wallet you can interact with various decentralized applications (dApps) on the dapp browser. 

Please note that Kriptomat is not affiliated with these dApps, and specifically their visibility in the browser or placement in the interface does not mean these dApps are endorsed or in any way verified by Kriptomat. Kriptomat is not responsible for any lost assets when interacting with dApps. 

Kriptomat Web3 Wallet is only available to Kriptomat Platform Users that successfully passed our identity verification, and this Annex B is interpreted and understood as part of and subject to Kriptomat’s Terms of Service, governing the use of Kriptomat Web3 Wallet. In the event that the provisions of the general Terms of Service and this Annex B differ, the provisions of this Annex shall prevail in the context of Kritpomat Web3 Wallet.

We strongly advise you to carefully familiarize yourself with the risks arising from dealing with virtual currencies, whereby additional risks occur within web3 as stated below, however, since it is impossible to cover all risks, it is imperative that you familiarize yourself with the risks regularly and upgrade your knowledge. We encourage you to carefully read our Special Note Risks of Trading Virtual Assets.

In no case and under no conditions do we bear any responsibility for your use of the Kriptomat Web3 Wallet, interaction with dApps, and participation in the web3 ecosystem. 

As using the Kriptomat Web3 Wallet enables you to engage directly with dApps and/or peer-to-peer transactions, you are solely responsible for the crypto assets you transfer, purchase, or use. Our Listing Policy does not apply to Web3 Wallet, and we shall in no case and under no condition be held responsible for the crypto assets that are transferred to or from your Kriptomat Web3 Wallet. 

Kriptomat Web3 Wallet is provided solely for use by you, and your use of the Services is expressly conditioned on your consent to, and compliance with, this Annex. By accessing or using your Kriptomat Web3 Wallet you accept and agree to comply with this Annex and any other applicable conditions communicated to you through the Kriptomat Web3 wallet interface from time to time. If you do not agree to any of the provisions of this Annex you should immediately stop using the Kriptomat Web3 Wallet. 

Kriptomat may offer a technical interface to selected dApps. Kriptomat reserves the right to add, change, or terminate access to dApps at any time and without the need to state reasons. 

Important notice: We reserve our right to change, cancel, suspend, or modify any aspect of Kriptomat Web3 Wallet services at any time and at our sole and absolute discretion, taking into account the User’s benefits and security. You agree it is your responsibility to follow and review any such changes. We will notify you of any changes via our webpage or Web3 Wallet interface becoming effective on the day of their publication. It shall be considered that you agree with the changed Terms if you continue to use the Web3 Wallet after the changes become effective. 

Definitions

“dApps” means decentralized applications, which are applications that operate on a blockchain or peer-to-peer network of computers and may operate autonomously.

“DeFi” means decentralized finance, which refers to the infrastructure, processes, and technologies used to democratize and/or decentralize financial transactions.

“NFT” is a unique digital identifier that cannot be copied, substituted, or subdivided, that is recorded in a blockchain, and that is used to certify ownership and authenticity.

Kriptomat Web3 Wallet  – Your Gateway to Web3 

Kriptomat Web3 Wallet enables you to explore and engage with the decentralized world. 

Kriptomat Web3 Wallet services include:

• Custodial Web3 wallet service and 
• Kriptomat Web3 NFT Wallet service.

Kriptomat Web3 Wallet is the digital wallet on the Kriptomat platform, which allows for multi-chain and multi-terminal ease of use, whereby the generated keys are safely kept in our custody. Users may connect their Kriptomat Web3 Wallet to dApps via the WalletConnect protocol available inside the Kriptomat Web3 Wallet. Once connected the user may engage with a third party such as  DeFi protocols. 

Kriptomat Web3 Wallet transaction service allows you to make a blockchain transaction through our system in your name as the initiating party and on your behalf. Each transaction initiated from your Kriptomat Web3 Wallet or incoming transaction to your Kriptomat Web3 Wallet is a blockchain transaction. 

Once you confirm the transaction through Kriptomat Web3 interface you specifically and irrevocably authorize us to make the blockchain transaction from your Kriptomat Web3 Wallet. Every transaction you make through your Kriptomat Web3 Wallet is carried out solely on the basis of your individual order, consent, and authorization given to us, and you are solely responsible for all transactions initiated with or to your wallet. 

Kriptomat Web3 swap allows Users to swap virtual currencies through a variety of blockchain networks, either through connecting your Kriptomat Web3 Wallet address directly with a third party/dApps (eg 1inch), or via the WalletConnect protocol available in the interface of Kriptomat Web3 Wallet. 

Kriptomat Third Party Web3 Content 

Within the Kriptomat Web3 Wallet interface, we may provide you with a simple route in the form of Wallet Connect protocol to dApps and/or applications (Third-Party Web3 Services). 

A Kriptomat Web3 Portfolio provides insight and access to selected third-party DApps, including crypto games that use blockchain technology and use virtual currency either for payment or for some other utility. Kriptomat is not affiliated with, and does not endorse these dApps or Third-Party Web3 Services. Kriptomat is not responsible for any lost funds and/or any aspect of interaction with dapps dApps or Third-Party Web3 Services. 

Kriptomat reserves the right to monitor and/or exclude certain protocols and web3 functions at its sole discretion and without any responsibility toward the user.

When accessing such third-party services or engaging in such web3 services you are leaving the Kriptomat environment and are entering into a relationship with such third-party web3 services, or are subject to protocol terms of use. You may be offered the ability to register and establish a Third-Party Account with a Third-Party Web3 Services. Such Third-Party Account shall be subject to terms and conditions and policies established by Third-Party Services providers for such Third-Party Account (“Third-Party Service Terms”). You should carefully familiarize yourself with the Third Party Services Terms. In no case and under no conditions are we responsible for the Third-Party Web3 Services, even if you came into contact with them through our Web3 section This includes swaps which are generated via 1inch or other aggregator. 

When using Third Party Web3 services the risk of information security risks is even greater, and by using your Kriptomat Web3 Wallet you confirm you acknowledge this increased risk, you understand it and you confirm Kriptomat cannot be held responsible for any security breach and incident. Furthermore, you explicitly confirm you shall not consider Kriptomat responsible for any loss of your assets resulting from an information security incident. 

Facilitating Web3 token swaps  

DEX tokens are crypto assets that are available on decentralized exchanges and for which direct transactions with fiat are not possible. Kriptomat has in its pursuit to ensure its clients a diversity of crypto portfolios developed a technical solution for facilitating a route for swap transactions between the client’s web3 wallet and peer party through DEX exchanges with an additional layer of integrated DEX aggregator- 1inch. 

DEX tokens are accessible through the search function in the Kriptomat crypto market section, clearly tagged as “DEX Tokens.” Transactions involving these tokens are accompanied by specific notices to inform users of their nature and associated risks.

While Kriptomat does not directly offer DEX tokens, they can be accessed through a technical solution that allows clients to engage in what appears to be a one-step transaction. In reality, this process involves three distinct steps:

First Step Description: Exchange between fiat and primary token that is blockchain native to the desired DEX token

The transaction happens between the client and Kriptomat as parties of the transaction. 

Second Step Description: The native token is then automatically transferred to the client’s web3 wallet. 

Second Step Description: Swap between the native token on the web3 wallet, and the desired DEX token on the DEX exchange.

The transaction is a blockchain transaction and happens between the client and the peer party. Importantly Kriptomat is not a party in a swap transaction. The third step represents a peer-to-peer transacting facilitated through the Kriptomat Web3 wallet. 

Regardless of DEX tokens being visible in the primary section of the Kriptomat wallet, they are kept in the client’s Web3 wallet. 

Should the client wish to swap the DEX token for fiat, the procedure is carried out sensibly in reverse.

This approach ensures that users can seamlessly interact with DEX tokens while being fully aware of the transaction’s specifics

Some Web3 tokens will not be facilitated through the Kriptomat platform due to security issues. Within the bounds of technical feasibility, Kriptomat implements a combination of technical measures, complementing and reinforcing each other, to facilitate selected accessibility to DEX tokens that meet minimum standards as set by facilitators and promoters of the DEX token market. This approach culminates in the creation of automated security screens that effectively block access to DEX tokens failing to meet our minimum security standards.

DEX tokens are inherently more risky. For more in-depth reviews of the risks associated with DEX tokens, we strongly encourage you to read the Risk Disclaimer where there is comprehensive risk disclosure, including a specific section applicable to Web3 tokens and Web3 wallet.

Other obligations and responsibilities

Fees 

We may charge a fee on each settled transaction initiation by you (such fee, a Web3 Wallet Transaction Fee), and for certain in-app purchases and other features as we may specify from time to time, each time fee shall be displayed in the interface (altogether Transaction Fee).

We reserve the right to change or modify the Transaction Fee at any time and from time to time. Any such changes or modifications (“changes”) will be effective upon posting such changes in the interface. If you do not agree to the posted changes you should stop using your Web3 Wallet and/or services as provided herein. Your continued use of the Kriptomat Web3 Wallet and Web3 Services following the posting of the modified Web3 Transaction Fee as posted in the interface will constitute the acceptance of all such changes.

Transaction Fees are paid by the trading parties in any given transaction. The trading parties will each be charged a fee in currencies as defined in the interface. 

You may be charged transactions and other fees in connection with your Third-Party Account. Any such fees are specified in the Third-Party Services Terms. We have no responsibility or liability for any fees or other costs or charges you may incur in connection with such Third-Party Account.

Anti-Money Laundering & Combating the Financing of Terrorism 

The AML&CFT rules, conditions, and measures apply in the same manner for the Kriptomat Web3 Wallet as for the Kriptomat account, within technical and industry capabilities.

We may at any time incorporate compliance and fraud prevention measures,  warnings, and security notices into the Kriptomat web3 interface. 

We may at any time freeze, disable, or partially disable different functions of your Kriptomat Web3 account without any advance notice.

Disclaimer and Limitation of Liability 

KRIPTOMAT DOES NOT MAKE ANY REPRESENTATIONS OR WARRANTIES ABOUT THIRD-PARTY CONTENT VISIBLE THROUGH THE KRIPTOMAT WEB3 INTERFACE, INCLUDING ANY CONTENT ASSOCIATED WITH THIRD-PARTY WEB3 SERVICES. 

YOU BEAR FULL RESPONSIBILITY FOR VERIFYING THE LEGITIMACY, AUTHENTICITY, AND LEGALITY OF NFTS THAT YOU PURCHASE FROM THIRD-PARTY SELLERS. 

The user expressly agrees that Kriptomat is not liable under any circumstances and under any conditions for damage, including complete loss of his assets, caused by any information security incident, hacking, account takeover, virus, etc. in connection with Kriptomat Web3 Wallet, and Kriptomat platform in general. 

Kriptomat shall not bear any liability, whatsoever, for any damage or interruptions caused by any computer viruses or other malicious code that may affect your computer or other equipment, or any phishing, spoofing, or other attack. We advise the regular use of reputable and readily available virus screening and prevention software. You should also be aware that SMS and email services are vulnerable to spoofing and phishing attacks and should use care in reviewing messages purporting to originate from Coinbase. Always log into your Kriptomat Account(s) through the Kriptomat Site to review any transactions or required actions if you have any uncertainty regarding the authenticity of any communication or notice. When using web3 third-party service we advise you to be very careful as using third-party services is subject to increased risk of viruses or other malicious code that may affect your computer or may result in your loss of assets. 

Kriptomat cannot in any way and under any condition be held responsible for any services provided by Third-party Web3 Services, or for the user’s engaging in peer-to-peer transactions. 

This disclaimer and limitation of liability section are to be interpreted in addition to the disclaimer and limitation of Liability stated in the Terms of Service.  

We may not be held responsible for any damages you may incur because of any failures, regardless of the nature of the failure, of the Kriptomat Web3 Wallet.

You fully acknowledge the risks associated with crypto assets. 

To the extent permitted by law, Kriptomat will not be liable for any damages, losses of profit, usage or data, loss of business, loss of business, failure, and similar in relation to or commencing from using Kriptomat Web3 Wallet.

You shall indemnify and hold harmless Kriptomat, its affiliates, contractors, licensors, and respective shareholders, members, directors, officers, employees, attorneys, agents, and suppliers from any claim, damage, lawsuit, tort, cost, or expenses.

The Services are provided on an “as is” and “as available” basis without any warranty or representation expressed or implied regarding continuous, uninterrupted, timely, error-free, or any kind of use or functionality of the Kriptomat Web3 Wallet. You understand and agree that Kriptomat shall not be liable in connection with any force majeure event, including labor disputes or other industrial disturbances, electrical, telecommunications, hardware, software or other utility failures, information security incidents of any kind,  software or smart contract bugs or weaknesses, earthquakes, storms, or other nature-related events, blockages, embargoes, riots, strikes, acts or orders of government authority, acts of terrorism or war, technological change, changes in interest rates or virtual currencies or other monetary conditions, and, for the avoidance of doubt, changes to any blockchain-related protocol.

UNDER NO CIRCUMSTANCES AND UNDER NO THEORY OF LAW (TORT, CONTRACT, STRICT LIABILITY, OR OTHERWISE), SHALL WE OR ANY OF THE INDEMNITEES BE LIABLE TO YOU OR ANY OTHER PERSON FOR ANY DAMAGES ARISING FROM THE USE OR MISUSE OF, OR INABILITY TO USE, THE WEB3 WALLET AND SERVICE, THE INTERFACE, THIRD-PARTY CONTENT OR ANY ACCOUNT OR SERVICE, REGARDLESS OF WHETHER SUCH DAMAGES ARE DIRECT, INDIRECT, SPECIAL, INCIDENTAL OR CONSEQUENTIAL DAMAGES OF ANY CHARACTER, INCLUDING DAMAGES FOR TRADING LOSSES, LOSS OF INFORMATION, BUSINESS INTERRUPTION OR LOST PROFITS, LOST SAVINGS, OR LOSS OF DATA, OR LIABILITIES UNDER ANY CONTRACT, NEGLIGENCE, STRICT LIABILITY, OR OTHER THEORY ARISING OUT OF OR RELATING IN ANY MANNER TO THE SITE, THE PLATFORM, THIRD-PARTY CONTENT OR ANY ACCOUNT OR FOR ANY CLAIM OR DEMAND BY ANY THIRD PARTY, EVEN IF WE KNEW OR HAD REASON TO KNOW OF THE POSSIBILITY OF SUCH DAMAGES, CLAIM OR DEMAND IF THE FOREGOING DISCLAIMER AND WAIVER OF LIABILITY SHOULD BE DEEMED INVALID OR INEFFECTIVE.

IN NO EVENT SHALL KRIPTOMAT BE RESPONSIBLE FOR ANY TRANSACTIONS TO OR FROM YOUR KRIPTOMAT WEB3 WALLET, OR ANY OTHER SERVICE.    

IN NO EVENT SHALL OUR LIABILITY, REGARDLESS OF THE FORM OF ACTION AND DAMAGES SUFFERED BY YOU, EXCEED THE HIGHEST AGGREGATE FEES PAID BY YOU TO US IN CONNECTION WITH THE WEB3 WALLET OR WEB3 SERVICES, OR 100 EUR (ONE HUNDRED EUROS), WHICHEVER IS GREATER.