01Who we are and what you accept
dollarize.fun is a personal project run by its two co-founders, Eneko Knorr and Alberto Gómez Toribio ("we", "us"). There is no company, foundation or DAO behind it. dollarize is not a product of, and is not endorsed by, any exchange, stablecoin company or other company either of us works for.
These terms apply to this website and to the smart contracts it lets you use (together, "the protocol"). By opening the site, connecting a wallet or sending a transaction to the contracts, you accept them. If you do not agree, do not use the protocol.
02Experimental, unaudited software
The protocol is experimental. Its smart contracts have not been audited by any external firm, and the internal reviews we have run do not replace an audit. Even audited code fails, and this code has not been audited at all.
The contracts may contain bugs, design flaws or vulnerabilities, and they may malfunction in ways nobody has foreseen. Any of these can cause the partial or total loss of funds. Use only money you can afford to lose.
03The website and the contracts
The website is one way to reach smart contracts deployed on Ethereum mainnet. Your transactions run against those contracts, on a public blockchain, and cannot be reversed once confirmed. We never take custody of your assets and cannot recover them for you.
The figures the site shows (backing, APR, prices, balances, history) come from the chain, from our indexer and from third parties. They can be late, incomplete or wrong. Check a transaction in your wallet before you sign it.
04What the site records
When you use the website we record the pages you visit, your IP address, your approximate location (country, region and city), your device and browser, your wallet address once you connect it, and the transactions you start from the site. We use this to understand how the site is used and to find and fix problems.
05What the admins can do
The protocol is not trustless yet. The factory admins can upgrade the contracts once a 48 hour wait has passed. An upgrade can change how redemption, staking, fees or any other rule works, including where the reserve and the liquidity position can go, and it can bring in new bugs. A proposed upgrade is public during the wait, and redemption keeps working while it lasts.
Liquidity managers appointed by the admins can move the project's liquidity position within limits set in the contracts.
Admin keys can be lost, stolen or misused. You accept that every guarantee described on this site holds only for the code that is running, and that the admins decide which code runs. The full description is in the protocol document in our repository.
06Stablecoins, reserve and redemption
Each project's dollar is backed by a USDC reserve lent on Aave v3. Part of every deposit goes into a liquidity position instead of the reserve, so a coin is not always backed one for one. Redemption pays each coin its share of the reserve, which can be below 1 USDC.
Nobody guarantees a peg, a level of backing, a yield or the ability to redeem at any given moment. Holding a project's dollar gives you no claim against us.
07Memecoins
Memecoins have no intrinsic value and their price can go to zero. We do not issue, review or endorse the memecoins that projects are built around, and we are not responsible for what their creators or holders do. The yield a project pays depends on trading we do not control.
08Risks you accept
By using the protocol you accept the following risks, any of which can cause the total loss of your funds:
- bugs, exploits, hacks and malfunctions of the smart contracts, of the site or of the keeper that runs the harvest
- upgrades made by the admins, and the loss or theft of their keys
- manipulation of prices or pools, front-running and sandwich attacks
- the behaviour of Uniswap pools, thin liquidity, slippage and the volatility of the memecoin and of ETH
- a depeg of USDC, or of a project's dollar below 1 USDC
- losses, pauses, freezes or bad debt at Aave, Circle or any other protocol the reserve depends on
- congestion, reorganisations or high fees on Ethereum
- the loss of access to your own wallet or keys
- changes in law, regulation or tax treatment that affect the protocol or you
09Third parties
The protocol depends on systems we do not control: Ethereum, Aave v3, Uniswap, USDC and its issuer Circle (which can freeze addresses), RPC providers, wallets, hosting and data providers. A failure, exploit, pause or policy change in any of them can reduce or lock your funds. We are not responsible for them.
10No investment advice
Nothing on this site is investment advice, financial, legal or tax advice, or an offer to buy or sell anything. The APR shown is an estimate from past activity and says nothing certain about the future. Every transaction is your own decision, and we owe you no fiduciary duty.
11Who may use it
The protocol is not available in the United States. You may not use it if you are a citizen or resident of the United States of America or any of its territories, if you are located there, or if you act for a company or other entity organised or based there (together, "US persons"). We may block access from the United States.
You must be at least 18 and legally able to accept these terms. You may not use the protocol if you are on a sanctions list of the United Nations, the European Union, the United Kingdom or the United States (OFAC), or if you are located in a country or region under comprehensive sanctions. You may not use a VPN or any other tool to get around these limits.
You are responsible for checking that using the protocol is legal where you live.
12Prohibited use
Do not use the protocol to manipulate markets, launder money, evade sanctions or deceive other users, and do not interfere with the site or its infrastructure. Reporting a bug to us privately is welcome; exploiting it is not.
13Taxes
You alone are responsible for working out, reporting and paying any taxes that arise from your use of the protocol.
14Provided as is
The site and the contracts are provided "as is" and "as available", without warranties of any kind, express or implied, including merchantability, fitness for a particular purpose, accuracy, security and uninterrupted operation. We do not warrant that the protocol will work as described, that it is free of bugs, or that any bug will be fixed.
15Limitation of liability
To the fullest extent the law allows, we are not liable for any loss or damage arising from your use of the protocol or your inability to use it. That includes the loss of funds or digital assets, lost profits, and indirect or consequential damages, whether caused by a bug, an exploit, a malfunction, an upgrade, a depeg or the failure of a third party.
Where the law does not allow us to exclude liability, our total liability to you is limited to 100 US dollars. Nothing in these terms limits liability for fraud or wilful misconduct, or any right that consumer law gives you and does not allow to be waived.
16Indemnity
You agree to hold us harmless from claims by third parties arising from your use of the protocol or your breach of these terms, to the extent the law allows.
17Changes
We may change these terms, and we may change, pause or shut down the site at any time. The date at the top says when they last changed. Continuing to use the protocol after a change means you accept it. Shutting down the site does not stop the contracts, and redemption can still be called directly on chain.
18Governing law
These terms are governed by Spanish law. Disputes go to the courts of Madrid, unless consumer law gives you the right to go to the courts where you live. If any part of these terms is held invalid, the rest still applies.