Terms and Conditions
Localcredit TERMS OF SERVICE
Last Updated: [●], 2025
These Terms of Service (“Terms”) govern access to and use of the Localcredit protocol, interfaces, smart contracts, APIs, documentation, and related services (collectively, the “Services”). The Services are operated by the Localcredit protocol and its decentralized governance participants (“Localcredit,” “we,” “us,” or “our”).
By accessing or using the Services, you agree to be bound by these Terms. If you do not agree, do not use the Services.
Nature of the Services
Localcredit provides a decentralized credit rating oracle that produces and publishes cryptographically verifiable reputation signals based on observed on-chain behavior and verified attestations. Localcredit does not originate credit, extend loans, intermediate transactions, provide financial advice, or make eligibility decisions.
Localcredit is an information service only. Any decisions made by third-party applications, institutions, or individuals using Localcredit Scores are made independently and at their own discretion.
No Financial, Legal, or Investment Advice
The Services do not constitute financial advice, credit advice, legal advice, investment advice, or a recommendation to engage in any transaction. Localcredit does not guarantee access to credit, favorable terms, or any specific outcome.
You acknowledge that credit decisions, lending terms, and risk assessments are determined solely by third parties and not by Localcredit.
Eligibility and User Responsibility
You are responsible for ensuring that your use of the Services complies with all applicable laws, regulations, and local requirements in your jurisdiction. Access to the Services may not be permitted in certain regions or by certain persons.
You represent that you are not prohibited from using the Services under any applicable law.
Voluntary Participation
Participation in Localcredit is voluntary. You are not required to create, maintain, or use a Localcredit Score. By linking wallets, providing attestations, or interacting with the protocol, you consent to the processing of cryptographic proofs and behavioral signals as described in these Terms.
Localcredit does not create or maintain mandatory credit files.
Data, Privacy, and Zero-Knowledge Architecture
Localcredit is designed to minimize data collection by default. The protocol does not collect, store, or sell personally identifiable information.
Where data is used, it is processed through privacy-preserving mechanisms, including zero-knowledge proofs and decentralized attestations. Localcredit stores outputs (such as scores and proofs), not raw personal data.
You are responsible for managing your own keys, wallets, and permissions. Localcredit cannot recover lost credentials.
Accuracy and Limitations
Localcredit Scores are probabilistic signals based on available data and model parameters. They do not represent guarantees of future behavior, solvency, or performance.
Localcredit makes no representations or warranties regarding accuracy, completeness, or suitability of any score for a particular purpose.
Scores may change over time as new information becomes available or as models evolve.
Third-Party Applications
Third-party applications may integrate Localcredit Scores into their own products. Localcredit does not control, endorse, or assume responsibility for these applications.
Your interactions with third parties are governed by their own terms and policies. Localcredit is not liable for decisions, actions, or outcomes arising from third-party use of scores.
Token Use ($CREDIT)
The $CREDIT token is a utility token used for access, governance, and coordination within the Localcredit network. It is not a security, investment product, or promise of future value.
Token balances, staking, or rewards do not guarantee score improvements or access to services. Token mechanics may evolve through governance.
You assume all risks associated with holding or using digital assets, including volatility and loss.
Governance and Protocol Changes
Localcredit is governed by decentralized processes. Parameters, models, and features may change over time through governance decisions.
You acknowledge that the protocol is experimental and may evolve, fork, or be discontinued.
No Custody
Localcredit is non-custodial. We do not hold, manage, or control user funds, wallets, or private keys.
All interactions with smart contracts are conducted at your own risk.
Intellectual Property
Protocol code, documentation, and trademarks may be subject to open-source licenses or other intellectual property protections. You may use such materials only in accordance with applicable licenses.
Disclaimers
THE SERVICES ARE PROVIDED “AS IS” AND “AS AVAILABLE.” TO THE MAXIMUM EXTENT PERMITTED BY LAW, LOCALCREDIT DISCLAIMS ALL WARRANTIES, EXPRESS OR IMPLIED, INCLUDING WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT.
Limitation of Liability
TO THE MAXIMUM EXTENT PERMITTED BY LAW, LOCALCREDIT SHALL NOT BE LIABLE FOR ANY INDIRECT, INCIDENTAL, CONSEQUENTIAL, OR SPECIAL DAMAGES, INCLUDING LOSS OF PROFITS, DATA, OR REPUTATION, ARISING FROM USE OF THE SERVICES.
Indemnification
You agree to indemnify and hold harmless Localcredit and its contributors from any claims arising from your use of the Services or violation of these Terms.
Termination
Localcredit may restrict or terminate access to the Services at any time where required by law or protocol governance. You may stop using the Services at any time.
Governing Law
These Terms are governed by and construed in accordance with applicable law, without regard to conflict-of-law principles.
Changes to These Terms
These Terms may be updated from time to time. Continued use of the Services constitutes acceptance of updated Terms.
Contact
For questions regarding these Terms, refer to official Localcredit governance channels.
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