Privacy Policy
This privacy policy (the "Privacy Policy") applies to you on your use of the application of Velar Labs Inc. (referred to as "Velar") as available on the website of Velar (collectively referred to as the “Platform”). Please note the terms "we", "our" and "us" refer to Velar and the terms "you", "your" and "user" refers to you as the user of the Platform. If you are not a user of the Platform, this Privacy Policy would not be applicable to you or to your affiliates or any party accessing the Platform through you.
The terms of this Privacy Policy are applicable to you for accessing our various services (the "Services") as detailed in our 'Terms of Use' document that can be accessed through the Platform and is available at Terms of Use.
You hereby agree and confirm that by availing of the Services on the Platform, you have explicitly consented to the terms of this Privacy Policy and / or the Terms of Use.
Introduction
Velar is a DeFi protocol with Bitcoin finality that aims to unlock Bitcoin’s true potential by building a sophisticated suite of DeFi products on Bitcoin. Velar includes an automated liquidity protocol based on the “constant product formoa.” This protocol is inspired by Uniswap v2 and is written in Clarity language on Stacks L2. Velar also features farming and staking options for users to select their strategy, as well as an IDO launchpad that facilitates the launch of tokens on the platform. Velar Dex is inspired by Uniswap v2 due to its simple design and permissionless nature.
User Consent
2.1
By using this Platform, you consent to the collection, storage, usage, and processing of your Personal Information by us in accordance with this Privacy Policy. If you do not agree to the terms of this Privacy Policy, please do not use or continue using this Platform.
2.2
You have the right to withdraw your consent at any time by contacting us, and we will take the consequent reasonable measures. Please note that once you withdraw your consent to this Privacy Policy, we may be unable to provide you with the ongoing Services availed by you.
2.3
Notwithstanding anything in this clause 2, we may be required to retain your Personal Information in order to comply with necessary applicable legal or regulatory obligations.
COLLECTION OF PERSONAL INFORMATION
3.1
By accessing or using the Platform, you consent to provide us with your Personal Information and agree to the terms of this Privacy Policy.
3.2
We may collect and receive Personal Information as outlined below from you when you access our Platform, register for your account (if applicable) with us or when you access the services of an external third-party service provider via the Platform.
3.3
We may monitor the use of the Platform through use of certain tracking mechanisms. This information helps us to build your profile, make the Platform user-friendly and render better Services to you.
3.4
We may collect the following Personal Information, including but not limited to, from you.
a)
Financial Information – such as Leather Wallet, Xverse, Asigna wallet information, transaction history, trading data and associated fees.
b)
Transactional Information – such information about the transaction you make on the platform, such as type of transaction, transaction amount and timestamp.
c)
Device Information – Details of device attributes and identifiers, plugins, name of your electronic devise or ISP, SMS, device make, device model, device language, time zone, geographic location, IP address, connection speed, device application, contact list, or any information available on such device.
d)
Information received from third party – We may receive information about your personal details from our service providers in order to comply with our legal obligations and prevent the use of our Services in connection with fraudulent or other illicit activities.
e)
Correspondence Information – We will receive any communications and information you provide directly to us via email, customer support, social media, or another support channel (such as Twitter or Discord), or when you participate in any surveys or questionnaires
3.5
You acknowledge that it is your responsibility to ensure that your Personal Information is always accurate, complete, and up-to-date. We will also make reasonable efforts to give you the opportunity to request corrections to your Personal Information if it is found to be inaccurate.
3.6
You acknowledge that you are aware that you can request the deletion of your Personal Information, subject to applicable law. However, we reserve the right to reject deletion requests that contravene the terms of this Privacy Policy, or any relevant applicable laws. We or the third party service provider, subject to applicable law, may also decline requests that require disproportionately extensive technical efforts, endanger the privacy of others, or are highly impractical.
USAGE OF PERSONAL INFORMATION
4.1
Providing Services and Features. We may use the Personal Information we collect to provide, maintain, and improve the Services, including as we described in the Terms of Use. In particular we will use your Personal Information to perform our contractual obligation towards you to allow you to browse and use the Services. This includes using information to:
- operate, maintain, customize, measure, and improve the services, and manage our business;
- connect wallet;
- process transactions and send information, including confirmations, notices, updates, security alerts, and support and administrative messages.
4.2
Safety and Security. It is in our legitimate business interest to use your Personal Information to help maintain the safety, security, and integrity of you and the Services, including to:
- protect, investigate, and deter against fraudulent, unauthorized, or illegal activity
- monitor and verify identity or service access, combat spam, malware or security risks:
- perform internal operations necessary to provide the Services, including to troubleshoot software bugs and operational problems:
- enforce our agreements with third parties, and address violations of our Terms of Use or agreements for other products or services; and comply with applicable security laws and regulations.
4.3
Legal Compliance. We may use your Personal Information we collect as needed or requested by the regulators, government entities, and law enforcement to comply with applicable law and regulations.
4.4
Business Change. We may transfer or share data to another entity in the event of a merger, acquisition or bankruptcy, dissolution, reorganisation, asset or stock sale, or any other business transaction.
4.5
Customer Support. If you reach out to us for support, it is in our legitimate business interest to use your Personal Information to provide customer support, including to:
- direct questions to the appropriate customer support person;
- investigate and address user concerns, and
- monitor and improve our customer support responses and processes.
4.6
Personalization. We may use your Personal Information to personalize your experience and use of the Services and our communications.
4.7
Research & Development. It is in our legitimate interest to use your Personal Information for testing, research, analysis and product development to improve your experience. This help us to improve and enhance the safety and the security of the services, improves our ability to prevent the use of the services for illegal or improper purpose and develop new features and products relating to the services.
SHARING AND DISCLOSING OF YOUR PERSONAL INFORMATION
5.1
Disclosure: We will disclose or share your Personal Information, without notice, for the primary purposes for which it was collected in accordance with the terms of this Privacy Policy, including, without limitation
a)
where you have consented to such disclosure or sharing without limitation by consenting to the terms of this Privacy Policy;
b)
where permitted under the applicable law and relevant data protection laws.
c)
where it is necessary to protect and defend the rights or property of Velar, our third party service providers, and/or our other vendors in connection with the Services;
d)
where it is necessary to act under exigent circumstances to protect the personal safety of other users on the Platform, or the general visitors visiting the Platform.
5.2
Sharing your Personal Information with Service Providers / Partner: We work with certain third party service providers and/or partners to execute various functionalities of the Platform and to provide the relevant Services. We may share your Personal Information with such third party service providers and/or partners to ensure a better customer experience of the Platform.
5.3
Sharing your Personal Information with group companies: Subject to applicable law, we may share any data, including Personal Information that we collect from you with our group companies for product research and development; for making our Services better; and tailoring the Platform for your benefit. We will not use any of your Personal Information for upselling and/or cross selling without your prior consent.
5.4
Sharing your Personal Information with law enforcement agencies as and when needed: We will share your Personal Information, without prior notice, on a request from any competent governmental authority or a court of competent jurisdiction or law enforcement agencies that we find appropriate or necessary in order to comply with applicable law.
5.5
Sharing your Personal Information during a change of our business: In the event of a reorganization, material financing event (as decided by us), material investment activity, merger, sale, joint venture, partnership, assignment, transfer, or other disposition of all or any of our business, assets or stock, or bankruptcy or similar proceedings, you hereby agree and confirm that we retain the right to enable the your Personal Information to be shared or transferred, subject to standard confidential agreements.
STORAGE, PROCESSING AND RETENTION OF PERSONAL INFORMATION
6.1
We will be entitled to use Amazon Web Services (global) to store your Personal Information. The storage location(s) are chosen to operate efficiently, improve performance, and reduce probability of errors for protecting your Personal Information in the event of an outage or other problems. We take steps to ensure that the Personal Information we collect is processed according to the provisions of the terms of this Privacy Policy
6.2
We will cease to retain your Personal Information or decide how the data would be associated with you as soon as it is reasonable to assume that such retention (as indicated in Clause 6.1 above) no longer serves the purpose for which the Personal Information was collected and is no longer necessary for legal or business purposes subject to applicable laws.
MINIMUM AGE REQUIREMENT
Please note that you must be aged 18 years or older to use the Services. If we have accidentally obtained any information from you and you are under the age of 18 years, please inform us immediately.
DATA SECURITY
8.1
We strive to maintain the security and safety of your Personal Information in line with industry standards. Once we have received your information or Personal Information, we use strict procedures and security features as per industry standards and the relevant data protection laws to try to prevent unauthorised access, loss, misuse, unauthorised disclosure and dissemination, destruction and alteration of your Personal Information
8.2
Steps taken to ensure Personal Information security:
a)
all data is securely hosted on third-party servers like Amazon Web Service.
b)
We employ industry standard data security practices to keep your Personal Information safe from cyber-attacks and threats.
c)
We undertake periodic assessments of the Platform’s safety and security practices.
8.3
We will not be responsible for any liability or obligation you may face if you share your confidential wallet address details with anyone
8.4
While we sincerely strive to protect your Personal Information, we cannot guarantee its security, or warrant that no harmful code will enter the Platform (including but not limited to viruses, bugs, trojan horses, spyware, malware, forks or adware). Transmission of information through the internet is not completely secure. You should be aware of the risks associated with disclosing any information or transacting over the internet or when using online portals. We urge you to take every precaution when using the internet to disclose your Personal Information to us. YOU AGREE AND ACKNOWLEDGE THAT ANY INFORMATION YOU PROVIDE US IS AT YOUR OWN RISK AND DISCRETION
8.5
You agree to immediately notify us if you discover or otherwise suspect any security issues related to any of our Services or your account. You can contact us at compliance@velar.co
USER RIGHT
9.1
Right of access of information: You have the right to obtain information on the categories of Personal Information being processed, the purpose of the processing, the decisions made upon automated processing, and entities with whom the Personal Information is shared.
9.2
Right to Request Personal Information Portability: You have the right to receive your Personal Information in a structured and machine-readable format.
9.3
Right to Rectification or Erasure of Personal Information: You have the right to rectify inaccurate Personal Information and the right to delete your Personal Information and be forgotten, subject to provisions of applicable law and terms of this Privacy Policy.
9.4
Right to Restriction of Processing: You have the right to restrict and stop the processing of your Personal Information upon receiving the request from you, where it is inaccurate, or you would object to the purpose of the processing of the Personal Information.
9.5
Right of Processing and Automated Processing: You have the right to object to automated decisions made with respect to your Personal Information.
9.6
Right to complain to the relevant data protection authority: You have the right to complain to the relevant data protection authority in case of any contravention of any of the legal provisions of the applicable Data Protection Law.
THIRD PARTY SERVICES
The Services offered on the Platform are either provided directly by us or through third party service providers. Use of such third party services will be subject to you for complying with any additional terms and conditions applicable to such services. You acknowledge and accept that we will not be responsible and will have no liability for any default or breach of the terms of third party services and any policies. Further, you accept and acknowledge that the third party service providers will be solely responsible for provision of such third party services, and you shall have no right against us for any act or omission of such third party service providers.
THIRD PARTY LINKS AND SITES
11.1
The Platform may contain links to or information about third-party websites that are not within our control. We are not responsible for the data privacy practices of any external third party website or platform.
11.2
You hereby agree that we are not liable in any manner, whatsoever, for any content as may be displayed on such third-party websites. Such links do not constitute an endorsement by us of those external websites.
11.3
You acknowledge that we are providing these links to you only as a convenience, and further agree that we are not responsible for the content of such external links.
11.4
If you follow a link to any third-party websites or platform, please note that we do not accept any responsibility or liability for the same. Please check the relevant policies before you submit any information to these websites, platforms, or to their affiliates.
RESTRICTED JURISDICTION
12.1
User and/or You is not a citizen, resident (tax or otherwise), domiciliary and/or green card holder or other similar certificate of residency of a country
a)
where participation in token sales is prohibited, restricted or unauthorized by applicable law, decree, regulation, treaty, or administrative act, or
b)
where it is likely that the sale of tokens would be construed as the sale of a security (howsoever named), financial service or investment product including without limitation the Afghanistan, Albania, American Samoa, Antigua, Belarus, Bosnia, Burundi, Burma, Central African Republic, Cuba, Democratic Republic of Congo, Guinea, Guinea Bissau, Guam, Iran, Iraq, Ivory Coast, Lebanon, Liberia, Libya, Mali, Myanmar, Nicaragua, North Korea, Northern Mariana Islands, People's Republic of China, Puerto Rico, Russia, Somalia, South Sudan, Sudan, Syria, Venezuela, Thailand, Ukraine, United Kingdom, United States, United States Minor Outlying Islands, US Virgin Islands, Yemen, Zimbabwe, Burkina Faso, Jordan, Tribinad and Tobago. The User is not a citizen or resident of a geographic area in which access to or participation in such interface is prohibited by applicable law, decree, regulation, treaty, or administrative act.
COOKIE POLICY
13.1
Please note that We use “cookies” to help personalize Your online experience.
13.2
Cookies do not typically contain any information that personally identifies a user, but personal information that We store about You may be linked to the information stored in and obtained from cookies.
13.3
We place cookies on certain pages of the Platform in order to help and analyze Our webpage flow, track user trends, measure promotional effectiveness, and promote trust and safety. We offer certain additional features on the Platform that are only available through the use of a “cookie”. We place both permanent and temporary cookies in Your device’s hard drive.
13.4
Cookies on the Platform may be used to ensure a smooth User experience, perform analytics, and for showing relevant advertisements. Please note that third parties (such as Game Partners, Service Providers, analytical software providers, etc.) may also use cookies, over which We have no control.
13.5
Most web browsers automatically accept cookies but You can usually modify Your browser setting to disable, block or deactivate cookies if You so prefer. If You choose to decline cookies, You may not be able to access all or parts of Our Platform or to fully experience the interactive features of the Services or the websites You visit through Us.
CHANGES TO THIS PRIVACY POLICY
14.1
Notwithstanding anything contained in the terms of this Privacy Policy or terms of any other contract with you, we reserve the absolute and unconditional right to update, modify, delete, or otherwise make changes to the terms of this Privacy Policy at any time. Any changes to this Privacy Policy will be reflected in the Platform and will be notified to you from time to time as applicable.
14.2
You can determine when this Privacy Policy was last modified by referring to the “Last updated on” legend at the beginning of this Privacy Policy. It shall be your sole responsibility to check this Privacy Policy periodically for changes, if any.
14.3
Any changes to this Privacy Policy will take effect and be binding on you from the time of posting the changes to the Platform. If you continue to use any Services following any changes to this Privacy Policy, you will be deemed to have accepted the changes to the terms of this Privacy and the updated version of this Privacy Policy.
14.4
If you do not agree with the changes to the terms of this Privacy Policy, please refrain from using our Platform. It is your responsibility to review this Privacy Policy (and the applicable conditions) from time to time.
14.5
If any provision of this Privacy Policy shall be held to be invalid, illegal, or unenforceable for any reason whatsoever, the invalidity, illegality, and enforceability of the remaining terms of this Privacy Policy shall not in any way be affected or impaired thereby.
COMPLAINTS
If you wish to lodge a complaint about how we process data, please write to us at compliance@velar.co. We will endeavour to respond to your complaints as soon as reasonably possible.
CONTACT
Questions, comments and requests regarding the terms of this Privacy Policy are welcomed and should be addressed to compliance@velar.co with the subject line “Query on Privacy Policy”.