Welcome to Zipper, a decentralized asset-wrapping platform built on the Fabric blockchain. These Terms of Service ("ToS" or "Agreement") govern your access to and use of Zipper’s services ("Services"). Zipper is developed by Fabric Blockchain Labs, Inc., a Delaware corporation located at 2980 NE 207th St, Suite 336, Aventura, FL 33180 ("Company," "we," "us," or "our"). By accessing or using Zipper, you ("User," "you," or "your") agree to be bound by this Agreement. If you do not agree, you must not use the Services.
1. Overview of Zipper
Zipper enables you to deposit native assets (e.g., BTC, ETH, LTC, ERC-20 tokens) into decentralized, Multi-Party Computation (MPC)-secured vaults controlled by the Zipper protocol. Upon detecting a deposit, Zipper automatically mints equivalent "Zipped Assets" on the Fabric blockchain (e.g., zBTC, zETH), which are sent to your non-custodial wallet. Zipper operates as a fully decentralized, non-custodial platform, meaning no human or organization, including the Company, takes custody of your assets at any point. Governance is managed by Fabric blockchain validator nodes through a process of progressive decentralization, ensuring community-driven control.
2. User Eligibility
- Be at least 18 years old or the age of majority in your jurisdiction, whichever is greater.
- Have the legal capacity to enter into this Agreement.
- Not be prohibited from using the Services under applicable laws or sanctions lists, including the U.S. Office of Foreign Assets Control (OFAC) list.
3. Account Setup and Wallet Connection
- Securing your wallet and private keys.
- Ensuring the accuracy of deposit addresses when transferring assets.
4. Services
- Asset Deposits: You deposit native assets into MPC-secured vaults, which are non-custodial and decentralized.
- Minting Zipped Assets: Upon deposit detection, Zipper mints equivalent Zipped Assets (e.g., zBTC, zETH) on the Fabric blockchain and sends them to your wallet.
- Decentralized Operation: All transactions occur onchain, managed by smart contracts and Fabric validators.
5. Risks
- Smart Contract Vulnerabilities: Bugs or exploits in Zipper’s smart contracts could lead to asset loss.
- Blockchain Risks: Downtime, forks, or failures on Fabric or other blockchains may disrupt access or functionality.
- Bridging and Wrapped Asset Risks: Issues with asset wrapping or cross-chain interactions could affect Zipped Assets’ value or availability.
- Market Risks: Zipped Assets may lack liquidity or experience price volatility, with no guarantee of market stability.
- User Error: Loss of private keys, incorrect deposits, or wallet mismanagement may result in permanent asset loss, which Zipper cannot recover.
- Regulatory Risks: Changes in laws or regulations may restrict your ability to use Zipper or Zipped Assets.
- Third-Party Risks: Reliance on external services (e.g., Cubist for key management) may introduce vulnerabilities beyond Zipper’s control.
6. Asset Custody
Zipper is non-custodial. Assets you deposit are stored in decentralized, MPC-secured vaults using key-sharding and distributed-key management (via Cubist), ensuring no single party, including the Company, controls or views them. After minting, Zipped Assets are sent to your wallet, and you retain full custody. If you lose access to your wallet or private keys, Zipper cannot recover your Zipped Assets. You bear sole responsibility for their safekeeping.
7. Compliance and Restrictions
- OFAC Screening: Wallet addresses are screened via TRM Labs to ensure compliance with OFAC sanctions. Access may be denied if your wallet is associated with a sanctioned entity.
- IP Blocking: While there are no explicit geographic restrictions, Zipper may implement IP-based blocking to comply with legal or operational needs.
8. Fees and Limits
- Fees: Zipper charges no operational fees. You are responsible only for blockchain gas fees on Fabric and native networks during deposits and withdrawals.
- Limits: There are no minimum or maximum transaction limits unless explicitly stated on the deposit page for a specific asset.
9. Security and Transparency
- Transparency: All transactions, smart contracts, and onchain activities are publicly viewable on the Fabric blockchain. Our smart contracts are open-source and auditable, allowing you to verify their integrity.
10. Jurisdiction
Zipper operates fully onchain, governed by Fabric blockchain consensus rules, and has no centralized jurisdictional control. However, for legal purposes, this Agreement is governed by the laws of the State of Delaware, USA, where Fabric Blockchain Labs, Inc. is incorporated. Disputes arising from this Agreement will be subject to Delaware jurisdiction, though onchain operations remain decentralized.
11. User Responsibilities
- Secure your non-custodial wallet and private keys, understanding that loss of keys results in permanent loss of Zipped Assets.
- Verify deposit addresses and transaction details to prevent errors.
- Comply with all applicable laws and regulations.
- Refrain from illegal activities, including money laundering, fraud, or disrupting Zipper’s operations.
- Accept all risks outlined in Section 5.
12. Limitation of Liability
- Losses due to user error (e.g., lost private keys, incorrect deposits).
- Losses from smart contract vulnerabilities, blockchain failures, or third-party service issues beyond our control.
- Indirect, incidental, consequential, or punitive damages arising from your use of Zipper.
13. No Warranties or Insurance
Zipper is provided "as is" and "as available," with no warranties, express or implied, regarding uptime, performance, or security. We do not guarantee that the Services will be uninterrupted, error-free, or free from hacks. Zipper does not provide insurance or protections against asset loss due to blockchain errors, hacks, or security vulnerabilities. You use Zipper at your own risk.
14. Transaction Finality
All transactions on Zipper are processed onchain and are irreversible once confirmed by the Fabric blockchain. Zipper cannot reverse, refund, or modify transactions due to their decentralized and final nature.
15. Privacy
Zipper collects minimal data, primarily wallet addresses for OFAC screening via TRM Labs. Our data practices are detailed in our separate Privacy Policy, available at [insert link]. We do not share personal data with third parties except as required for compliance or security purposes.
16. Third-Party Services
Zipper integrates with third-party services (e.g., Cubist for key management, TRM Labs for compliance). Use of these services is at your own risk, and we are not responsible for their performance, security, or availability.
17. Intellectual Property
All content, code, and branding related to Zipper are owned by Fabric Blockchain Labs, Inc. and protected by applicable law. You may not reproduce, modify, or distribute them without our written consent.
18. Termination
We may suspend or terminate your access to Zipper at any time, without notice, for any reason, including suspected violations of this Agreement or legal requirements. Upon termination, you retain control of your Zipped Assets in your wallet, but we are not responsible for any losses due to suspension.
19. Amendments
We may update this ToS at our discretion. Changes will be posted, and your continued use of Zipper constitutes acceptance of the updated terms.
20. Indemnification
You agree to indemnify and hold harmless Fabric Blockchain Labs, Inc., its affiliates, and Fabric validators from any claims, losses, or damages arising from your use of Zipper or violation of this Agreement.
21. Force Majeure
We are not liable for delays or failures in performance due to events beyond our control, including natural disasters, wars, or blockchain network disruptions.
22. Severability
If any provision of this Agreement is found invalid or unenforceable, the remaining provisions will remain in full force and effect.
23. Contact Us
For questions about this ToS, contact us at:
Fabric Blockchain Labs, Inc.
2980 NE 207th St, Suite 336
Aventura, FL 33180
Email: [fabric@labs.com]
