Terms of Use

Last updated: December 2024

Introduction

These Terms of Use ("Terms") govern your access to and use of Tonkey, a multi-signature wallet application built on The Open Network blockchain. By accessing or using Tonkey, you agree to comply with these Terms. If you do not agree with any part of these Terms, you may not use Tonkey.

Eligibility

You must be at least 18 years old or the age of majority in your jurisdiction to use Tonkey. By using Tonkey, you represent and warrant that you meet this eligibility requirement.

Application

  1. Tonkey provides a self-hosted, non-custodial wallet designed to facilitate transactions within The Open Network blockchain. The Application includes the following functionalities:
    1. Generates public wallet addresses and encrypted private keys for sending and receiving digital assets within The Open Network blockchain.
    1. Facilitates the submission of digital asset transfer instructions to The Open Network blockchain.
    1. Allows end users to interact with third-party service providers to purchase digital assets. Tonkey does not directly provide digital asset sale or purchase services.
  1. The Application does not store private keys, backup phrases, or passwords on its servers. Users are responsible for securely managing their private keys, backup phrases, and passwords. It is recommended to write down backup phrases and store them offline in a secure location. Lost private keys, backup phrases, or passwords cannot be recovered by Tonkey, resulting in the potential loss of access to digital assets stored on The Open Network blockchain.
  1. The Open Network blockchain is the sole authentic system for recording and storing transactions made through the Application. All proposed transactions must be confirmed and recorded on The Open Network blockchain to be completed.
  1. The Open Network blockchain is a decentralized, peer-to-peer network supported by independent third parties. Tonkey does not own, control, or operate The Open Network blockchain and cannot guarantee that digital asset transactions, including payments using NFT technology or payment cards, will be completed in due course.
  1. Users must independently inquire about the fees (e.g., validation or mining fees) associated with digital asset transactions. Tonkey is not responsible for any losses incurred due to transaction fees ("gas") or changes in prices.
  1. Based on agreements with third-party service providers, these providers may:
    1. Handle payments for purchasing digital assets via bank cards or payment service accounts.
    1. Facilitate the exchange of digital assets.
    1. Enable settlements using digital assets.
    1. Provide additional services to users.

    By engaging with any of the activities outlined above, users may be subject to the terms of service and privacy policies of these third-party providers. Tonkey is not liable for any damages or losses, actual or alleged, resulting from or in connection with third-party services.

    Users may also be subject to AML/KYC regulations. Tonkey takes no responsibility for ensuring compliance with such regulations by users or third-party providers.

Scope of Services

Tonkey enables users to manage digital assets securely and collaboratively through multi-signature wallets on The Open Network blockchain. The platform does not provide custody of your private keys, nor does it offer financial, legal, or tax advice. Tonkey is a tool for interacting with the TON blockchain and does not guarantee the security or functionality of the underlying blockchain technology.

User Responsibilities

  1. Private Key Management: Users are fully responsible for managing and securing their private keys. Tonkey cannot recover lost private keys or access user funds.
  1. Legal Compliance: Users must comply with all applicable laws, regulations, and rules in their jurisdiction.
  1. Prohibited Use: Tonkey must not be used for illegal activities, including but not limited to money laundering, fraud, or any activity that violates the rights of others.

Disclaimer and Risks

  1. Disclaimer
    1. The services are provided "as is" and "as available." To the extent permitted by law, no representations or warranties are made regarding the services, third-party content, or third-party services.
    1. All warranties, including but not limited to implied warranties of merchantability, fitness for a particular purpose, and non-infringement, are disclaimed.
    1. No guarantees are made that services, third-party content, or third-party services will be uninterrupted, error-free, or secure.
  1. Risks
    1. The services depend on emerging technologies such as TON, which carry inherent risks, including potential misuse of public/private key cryptography and software updates.
    1. Blockchain protocols may have vulnerabilities, resulting in potential losses. Transactions are irreversible, and private keys or recovery phrases must be securely managed, as they cannot be recovered by Tonkey.
    1. Digital tokens are subject to market volatility, technical risks, regulatory changes, and cybersecurity threats. Costs and speeds of blockchain transactions are beyond Tonkey’s control.
  1. Dispute and Arbitration
    1. Disputes will be resolved through arbitration in Hong Kong under the rules of the Hong Kong International Arbitration Centre. Arbitration will be conducted in English, and awards will be binding.
  1. Governing Law and Jurisdiction
    1. These Terms are governed by the laws of Hong Kong. Disputes shall fall under the exclusive jurisdiction of Hong Kong courts.

Disclaimer of Warranties

Tonkey is provided "as is" and "as available" without warranties of any kind, either express or implied. Tonkey disclaims all warranties, including but not limited to merchantability, fitness for a particular purpose, and non-infringement. The application’s functionality depends on external factors, including The Open Network blockchain, which Tonkey does not control.

Limitation of Liability

To the fullest extent permitted by law, Tonkey and its affiliates, officers, employees, and agents will not be liable for any indirect, incidental, special, consequential, or punitive damages, or any loss of profits, revenues, data, or other intangible assets, arising from:

  1. Use or inability to use the application.
  1. Unauthorized access to user data or funds.
  1. Errors, bugs, or issues in the application or blockchain.

Indemnification

Users agree to indemnify and hold harmless Tonkey, its affiliates, officers, employees, and agents from any claims, damages, or expenses arising from their use of Tonkey or violation of these Terms.

Modifications to Terms

Tonkey reserves the right to modify these Terms at any time. Users will be notified of changes through the application or website. Continued use of Tonkey after modifications indicates acceptance of the revised Terms.

Governing Law

These Terms are governed by the laws of the jurisdiction where Tonkey is incorporated, excluding conflict-of-law principles. Any disputes arising from these Terms will be resolved in courts of competent jurisdiction in that location.

Contact Information

For questions, concerns, or feedback regarding these Terms, please contact us at [email protected].

Severability

If any provision of these Terms is deemed invalid or unenforceable, the remaining provisions will remain in full effect.

Entire Agreement

These Terms constitute the entire agreement between users and Tonkey regarding the application and supersede any prior agreements or communications.