Terms of Service

These terms are an agreement between you and Yael, "we" or "us". They apply when you use the Yael website or app, including demo mode. By creating an account or using Yael, you agree to them and to our Privacy Policy. If you don't agree, please don't use Yael.

You must be at least 18 and able to enter a binding contract where you live.

Yael is software that helps you receive digital dollars and choose how to split them between cash, savings and stocks. It is non-custodial: your money sits in a wallet that you control, and we can't move it without your approval.

Yael is not a bank, a deposit-taking institution, a broker, an investment adviser, a money transmitter or a remittance company. Balances in Yael are not bank deposits and are not insured by the NDIC or any other scheme.

Yael connects you to products run by other companies, each with its own terms:

• USDC, a digital dollar issued by Circle.
• USDY, a token backed by short-term US Treasuries, issued by Ondo Finance.
• xStocks, tokens that track US shares, issued by Backed Finance.
• Swaps through Jupiter, and loans through Kamino Lend, both on the Solana blockchain.
• Wallet and login by Privy, identity checks by Dojah, bank-name checks by Paystack, and payout partners where available.

We don't issue, hold, or guarantee any of these products.

• You log in with your email, phone number or Google account. Keep your login secure; anyone who gets into it can approve transactions.
• Your wallet is created for you by Privy. You can export its key at any time from Profile. If you lose access to both your login and your exported key, we can't recover your money.
• Transactions on Solana are final. Money sent to the wrong address, or on the wrong network, can't be reversed by us.
• Demo mode uses pretend money only. Nothing in demo mode is real, and demo balances can't be withdrawn.
• We will never ask for your password, one-time login code, PIN or wallet key. Don't share them with anyone.

Money leaving your account through Yael — sends to a username or address, bank withdrawals and cash pickup — counts against a daily limit in naira:

• ₦200,000 a day without verification.
• ₦5,000,000 a day after you verify your BVN or NIN.
• No daily limit after you verify a government ID with a selfie.

You agree to give true, current information when you verify. We may ask for more information, refuse or pause a transaction, lower a limit, or close an account where the law requires it or where we reasonably suspect fraud, money laundering, terrorist financing or sanctions evasion.

Because your wallet is yours, you can also use it outside Yael. These limits apply to what goes through Yael.

• Splitting: when money arrives, Yael shows a plan of swaps with every fee before you approve it. Prices can move between the quote and the swap; each swap has a limit on how far it may move.
• Sending: you can send USDC to a Yael username or to any Solana address. Check the recipient before you confirm.
• Converting: the Wallet screen can sell SOL, or a verified token someone sent you, for USDC through Jupiter, and can buy a small amount of SOL (up to $25 at a time) to pay network fees. Yael doesn't vouch for any token outside its own list and won't convert unverified ones.
• Withdrawing: bank and cash-pickup payouts are in test mode until a licensed payout partner is connected. Until then, you can send USDC to an exchange account and sell it there.
• Exchange rates and naira amounts shown are estimates. The rate you actually get is set by the exchange or payout partner you use.
• Savings and stocks are not available to US persons or where the issuer's terms don't allow it.

You can borrow USDC against your stocks on Kamino Lend, a lending market on Solana. When you borrow, some of your stocks are deposited into Kamino as security. You borrow from Kamino, not from us.

• Interest is variable, set by Kamino, and added to what you owe over time.
• If the value of your security falls far enough, Kamino can sell part of it to repay the loan (liquidation), and a liquidation fee applies. You can lose part of your stocks this way.
• Yael only lets you borrow up to half of what Kamino allows, to lower this risk. That limit does not guarantee your stocks won't be liquidated.
• You are responsible for watching your loan and paying it back. You can pay back at any time.
• Yael tries to warn you in the app and by push notification when your loan gets risky, but warnings can be late or not arrive (for example if notifications are off). Don't rely on them alone.
• Opening a loan account on Kamino needs a small amount of SOL for network deposits, shown before you confirm.

Digital assets carry real risk. You can lose some or all of the money you put in. In particular:

• Stock tokens go up and down with the market. They give you price exposure, not voting rights, and they are not a US brokerage account.
• A stablecoin such as USDC could lose its link to the US dollar, and an issuer could fail or freeze tokens.
• Savings rates are estimates and can change. USDY is not a bank deposit.
• Blockchains, smart contracts and the services we connect to can have bugs, outages or attacks.
• Rules for digital assets in Nigeria and elsewhere are changing and could limit what Yael can offer.
• Yael is new, beta software. Start with small amounts.

Yael's own fee is currently $0. You pay Solana network fees, swap costs, and any fees charged by exchanges, lenders or payout partners. We show known fees before you approve anything. If we introduce a Yael fee, we'll tell you before it applies to you.

• Use Yael for anything illegal, including fraud, scams, money laundering, terrorist financing or getting around sanctions.
• Use someone else's identity, account, BVN or NIN, or let someone else use yours.
• Pay for or receive money for illegal goods or services.
• Try to break, overload, reverse-engineer or get unauthorised access to Yael or its partners.

Presets, explanations and examples in Yael are general information, not financial, investment, tax or legal advice for your situation. You decide how to split your money and whether to borrow.

When you use a product or service run by someone else through Yael, their terms also apply, and they are responsible for it. We are not responsible for their products, their availability, or what they do with your information under their own policies.

We may change, pause or stop features, including for safety or legal reasons. We may update these terms; if a change matters to you, we'll tell you in the app before it takes effect. Using Yael after that means you accept the new terms.

We provide Yael "as is" and "as available". As far as the law allows, we don't promise it will always work, be error-free, or meet a particular need.

As far as the law allows, we are not liable for losses caused by market movements, blockchain or partner failures, liquidations, your own mistakes (such as a wrong address), or anything outside our reasonable control; nor for indirect or consequential losses. Where we are liable, our total liability is limited to the fees you paid to Yael in the 12 months before the claim.

Nothing in these terms removes rights you have under the Federal Competition and Consumer Protection Act 2018 or other law that can't be excluded.

You can stop using Yael at any time and delete your account data from Profile. Your wallet and the money in it stay yours; export your wallet key first if you want to keep using it elsewhere. We may suspend or close access if you break these terms or where the law requires it.

These terms are governed by the laws of the Federal Republic of Nigeria. If something goes wrong, please contact us first and we'll try to resolve it within 30 days. If we can't, the courts of Lagos State, Nigeria, will decide the dispute.