Terms of Use

Last updated: 09/01/2024

Please read these Terms of Use ("Terms", "Terms of Use") carefully before using the Arcus Labs platform (the "Service") operated by Arcus Labs ("us", "we", or "our").

1. Acceptance of Terms

By accessing or using the Service, you agree to be bound by these Terms. If you disagree with any part of the terms, then you may not access the Service.

2. Description of Service

Arcus Labs provides a Bitcoin Layer 1 lending and borrowing platform, currently operating on the Bitcoin testnet. The platform facilitates the lending and borrowing of Bitcoin and BRC-20 tokens, with plans to expand to additional assets in the future.

3. Testnet Operations

Users acknowledge and agree that:

  • The current platform operates exclusively on the Bitcoin testnet.
  • Testnet tokens, including Bitcoin and BRC-20 tokens, have no real-world value.
  • Testnet data, including user accounts and balances, may be wiped at any time without notice.
  • The platform's transition to the Bitcoin mainnet is planned for 2024 but is not guaranteed.

4. Lending and Borrowing

Users understand and agree that:

  • Lending and borrowing activities carry inherent risks.
  • Interest rates and yields are variable and not guaranteed.
  • Borrowers must maintain a sufficient collateralization ratio to avoid liquidation.
  • Liquidations may occur automatically if a user's credit score (health factor) falls below the required threshold.
  • Arcus Labs charges fees for certain operations, which may change over time.

5. Tokens and Rewards

Users acknowledge that:

  • The TSNT BRC-20 token and xUSD token are experimental and used solely for testing purposes.
  • Any rewards, discounts, or benefits associated with these tokens are of a utilitarian nature only and do not promise financial gain.
  • Future tokenomics and reward structures may change without notice.

6. Risks and Disclaimers

Users understand and accept that:

  • Cryptocurrency markets are highly volatile and risky.
  • Past performance does not guarantee future results.
  • Arcus Labs does not guarantee any income, yield, or financial benefit from using the platform.
  • Users are responsible for understanding the risks associated with cryptocurrency lending and borrowing.
  • Arcus Labs is not responsible for any losses incurred through the use of the platform.

7. User Responsibilities

Users agree to:

  • Provide accurate and up-to-date information when using the platform.
  • Maintain the security of their account credentials.
  • Comply with all applicable laws and regulations.
  • Not engage in any fraudulent or manipulative activities on the platform.

8. Modifications to the Service

Arcus Labs reserves the right to modify or discontinue, temporarily or permanently, the Service with or without notice. We shall not be liable to you or to any third party for any modification, suspension, or discontinuance of the Service.

9. Governing Law

These Terms shall be governed and construed in accordance with the law, without regard to its conflict of law provisions.

10. Contact Us

If you have any questions about these Terms, please contact us by submitting a ticket on discord.