Acceptance of Terms

By accessing or using the Privara website, submitting a waitlist request, connecting a wallet, creating an account, sending or receiving invoices, initiating withdrawals, or using any of our services, you agree to be bound by these Terms of Service ("Terms"). If you do not agree to these Terms, please do not use our services.

These Terms constitute a legally binding agreement between you ("User," "you," or "your") and the operator of the Privara platform ("Privara," "we," "us," or "our"). Privara is currently developed by Reineira Labs FZE, a company registered in RAK DAO, Ras Al Khaimah, United Arab Emirates ("Developer"), as a research and technology demonstration project. Reineira Labs FZE serves as the development company responsible for building and maintaining the software, but does not operate the platform as a financial service provider. A separate operating entity may be established in the future to operate the platform commercially, and such entity will assume the operational rights and obligations under these Terms. Please read them carefully before using our services.

Privara is built on top of the ReineiraOS protocol. Your use of Privara is also subject to the terms, conditions, and disclaimers of the underlying ReineiraOS protocol infrastructure. In the event of any conflict between these Terms and the ReineiraOS Terms of Service, these Terms shall govern your use of Privara-specific services, while the ReineiraOS Terms of Service shall govern protocol-level operations.

Description of Service

Privara is a confidential stablecoin payment platform currently in private alpha, designed to provide privacy-preserving stablecoin invoice payments using advanced cryptographic technology, including Fully Homomorphic Encryption (FHE). Privara operates as a front-end interface and application layer built on the ReineiraOS protocol.

At this stage, our services consist of:

Waitlist registration: You can submit your email to join our waitlist for early access.
Invoice creation and management: Invited users can create, send, and manage USDC-denominated invoices through the platform.
Payment processing: The platform facilitates the receipt of USDC payments against invoices through on-chain smart contracts.
Withdrawal and bridging: Users can withdraw received funds and bridge them across supported blockchain networks.
Privacy Shield: Optional encryption of invoice details (client name, service description, and amount) on-chain using FHE.
Information and updates: We provide information about Privara and communicate with waitlist members about progress and access availability.

Access to the full Privara platform is currently limited and provided on an invitation basis to selected waitlist members. Being on our waitlist does not guarantee access to our services.

Testnet & Experimental Status

IMPORTANT: Privara is currently deployed exclusively on the Arbitrum Sepolia testnet. This is a test environment and NOT a production network.

By using the platform, you understand and acknowledge that:

No monetary value: All tokens, including USDC used within the testnet environment, are testnet tokens that carry no real monetary value. Any balances, payments, or transactions conducted on the platform represent simulated activity only.
Demonstration purposes: The platform is provided solely for demonstration, testing, and evaluation purposes. It is not operational for real financial transactions.
No production guarantees: The behavior of the platform on testnet does not guarantee identical behavior on any future mainnet deployment. Features, functionality, and performance may differ materially.
Resets and discontinuation: Testnet environments may be reset, wiped, or discontinued at any time without prior notice. All testnet data, transaction history, invoices, and account information may be permanently lost.
Smart contract upgrades: Smart contracts deployed on testnet may be upgraded, modified, or redeployed without notice. Contract addresses, interfaces, and behavior may change at any time.
Experimental technology: The platform uses emerging cryptographic technologies including Fully Homomorphic Encryption (FHE) and account abstraction that are experimental in nature and may contain undiscovered vulnerabilities or limitations.

DO NOT send real cryptocurrency or tokens of any value to any address associated with the Privara testnet platform. Any real assets sent to testnet addresses may be permanently and irrecoverably lost.

Eligibility

To use our services, you must:

Be at least 18 years of age or the age of majority in your jurisdiction
Have the legal capacity to enter into a binding agreement
Not be prohibited from using our services under applicable laws
Not be located in, or a resident of, any jurisdiction where the use of our services would be prohibited or restricted, including but not limited to jurisdictions subject to comprehensive sanctions by the United States (OFAC), European Union, or United Nations
Not be listed on any sanctions list maintained by OFAC, EU, UN, or other applicable authority

By using our services, you represent and warrant that you meet all of these eligibility requirements.

Nature of Services

Privara is NOT a financial institution, bank, money services business, money transmitter, payment processor, custodian, broker, dealer, exchange, investment advisor, or insurance company.

The platform provides software tools that enable users to interact with blockchain-based smart contracts for the purpose of creating and managing invoices. Privara does not:

Hold, custody, or control user funds at any time
Execute trades or swaps on behalf of users
Provide financial, investment, tax, or legal advice
Guarantee the value, stability, or convertibility of any tokens
Act as an intermediary, escrow agent, or fiduciary
Underwrite, guarantee, or insure any transactions or deposits
Provide yield, returns, or interest on deposited funds in the current testnet phase

Any references to "payments," "invoices," "withdrawals," or similar financial terminology within the platform are used for descriptive purposes and refer to interactions with blockchain smart contracts. In the current testnet phase, these operations involve tokens with no monetary value.

Any yield or return figures mentioned on our website or marketing materials (such as "up to 5% gross yield") represent projected features of potential future mainnet deployment only and are not guaranteed. Such figures are subject to market conditions, protocol parameters, and smart contract risk, and should not be construed as a promise of future returns.

User Responsibilities

When using our services, you agree to:

Provide accurate and truthful information
Safeguard your passkeys, authentication credentials, and wallet access
Understand that passkey-based authentication means you are solely responsible for maintaining access to your registered devices and biometric credentials
Keep your contact information up to date
Use our services only for lawful purposes
Respect the privacy and rights of others
Not attempt to interfere with or disrupt our services
Comply with all applicable laws and regulations in your jurisdiction
Conduct your own due diligence and seek professional advice before relying on any aspect of the platform for financial decisions

Prohibited Activities

You agree not to engage in any of the following activities:

Submitting false, misleading, or fraudulent information
Attempting to gain unauthorized access to our systems, smart contracts, or other users' information
Using our services for any illegal activity, including money laundering, terrorist financing, sanctions evasion, tax evasion, or any other financial crime
Interfering with or disrupting the integrity or performance of our services or underlying smart contracts
Attempting to reverse engineer, decompile, or disassemble any part of our services beyond what is permitted by applicable open-source licenses
Using automated systems or software to extract data from our website or platform
Impersonating another person or entity
Circumventing any security measures, access controls, or encryption mechanisms
Exploiting bugs, vulnerabilities, or unintended behavior in smart contracts
Submitting malicious code, payloads, or transactions designed to disrupt or exploit the platform
Using the platform to facilitate transactions with sanctioned persons or entities

Wallet & Custody

Privara provides a non-custodial service. This means:

Your keys, your responsibility: Wallets are created and controlled through your passkey credentials or connected external wallet. Privara does not have access to your private keys, passkeys, or the ability to recover lost credentials.
No fund recovery: If you lose access to your authentication credentials (passkeys, biometric devices), Privara cannot recover your wallet or any associated funds. You are solely responsible for maintaining access to your authentication methods.
Smart account wallets: The platform may use account abstraction (smart contract wallets). These wallets operate differently from traditional externally-owned accounts (EOAs) and carry their own unique risks including smart contract vulnerabilities and upgrade risks.
No custody or control: At no point does Privara take custody, possession, or control of any tokens or digital assets in your wallet. All transactions are initiated and signed by you.

Privacy Shield & Encryption

The Privacy Shield feature uses Fully Homomorphic Encryption (FHE) to encrypt certain invoice details on-chain. You acknowledge and understand that:

FHE is an emerging cryptographic technology that may have undiscovered vulnerabilities, implementation bugs, or theoretical limitations
Encryption is performed client-side; Privara does not hold decryption keys and cannot decrypt your data
While encrypted data is designed to be confidential, no encryption technology provides absolute guarantees of privacy or security
Advances in cryptanalysis, quantum computing, or other technology may in the future compromise the security of encrypted data
On-chain metadata (transaction hashes, timestamps, wallet addresses, contract interactions) remains publicly visible on the blockchain regardless of Privacy Shield status
Privara makes no guarantee that encrypted data will remain permanently confidential

Cross-Chain Transfers & Bridges

The platform may facilitate cross-chain transfers of tokens between supported blockchain networks. You acknowledge that:

Cross-chain bridges rely on third-party protocols and infrastructure that Privara does not control
Bridge transactions carry inherent risks including but not limited to: delays, failures, loss of funds, smart contract exploits, and protocol-level vulnerabilities
Transaction finality varies across blockchain networks and is not guaranteed until confirmed by the destination chain
Privara is not responsible for any loss, delay, or failure arising from cross-chain transfer operations
In the current testnet phase, bridge operations involve tokens with no monetary value and may behave differently than on mainnet

Protocol Fees

The platform may implement configurable fee parameters for certain operations. During the current testnet phase:

Any fees displayed or charged apply only to valueless testnet tokens and carry no real economic cost
Fee structures, rates, and parameters are subject to change without notice
Fee parameters referenced on our website (such as "0.35% protocol fee") represent planned parameters for potential future deployment and may change

The claim of "zero gas fees" refers to the platform's use of sponsored transactions (paymasters) during the testnet phase. This benefit may be modified, limited, or discontinued at any time.

API Usage & Restrictions

If you are granted access to the Privara API for integration purposes, the following additional terms apply:

License Grant

Subject to these Terms, Privara grants you a limited, non-exclusive, non-transferable, revocable license to access and use the Privara API solely for the purpose of integrating Privara's payment services into your application or platform.

Competitive Use Restriction

You expressly agree that you will not use the Privara API, SDK, documentation, or any related materials to:

Build, develop, or operate any product or service that competes with Privara, including but not limited to privacy-preserving payment solutions, confidential stablecoin infrastructure, or FHE-based financial services
Create derivative works, benchmarks, or analyses intended to replicate, reverse-engineer, or compete with Privara's core technology or business model
Provide access to Privara's API or services to any third party for the purpose of enabling that third party to build competing products or services
Use insights, data, or knowledge gained from API access to inform the development of competing solutions

No Resale or Sublicensing

You may not resell, sublicense, lease, or otherwise transfer access to the Privara API to any third party. Your API credentials are for your use only and must be kept confidential.

Fair Use & Rate Limits

You agree to use the API in accordance with any rate limits, usage quotas, or fair use policies we establish. Excessive or abusive API usage may result in throttling, suspension, or termination of your access.

Survival

The competitive use restrictions in this section shall survive termination of your access to the API and remain in effect for a period of two (2) years following termination.

Third-Party Dependencies

Privara integrates with and depends on various third-party services and protocols. You acknowledge that Privara does not control and is not responsible for the operation, availability, security, or performance of these services, which include but are not limited to:

ReineiraOS Protocol: The underlying protocol infrastructure on which Privara is built, including its smart contracts, FHE implementation, and settlement mechanisms
Arbitrum / Arbitrum Sepolia: The blockchain network on which the platform's smart contracts are deployed
Circle (USDC & CCTP): The stablecoin issuer and cross-chain transfer protocol used for USDC operations
Wallet infrastructure providers: Including but not limited to passkey validators and smart account providers used for wallet creation and transaction signing
Fhenix: The FHE co-processor infrastructure used for homomorphic encryption operations

Failures, outages, vulnerabilities, or changes in any third-party dependency may adversely affect the availability, functionality, or security of Privara. Privara shall not be liable for any loss or damage caused by the acts or omissions of third-party service providers.

Intellectual Property

All content, features, and functionality of our services, including but not limited to text, graphics, logos, icons, images, and software, are the exclusive property of Privara or our licensors and are protected by copyright, trademark, and other intellectual property laws.

You may not reproduce, distribute, modify, create derivative works of, publicly display, publicly perform, republish, download, store, or transmit any of our materials without our prior written consent.

The Privara name, logo, and all related names, logos, product and service names, designs, and slogans are trademarks of Privara. You may not use such marks without our prior written permission.

Certain components of the platform may incorporate open-source software subject to their respective licenses. Nothing in these Terms restricts your rights under applicable open-source licenses.

Assumption of Risk

By using Privara, you expressly acknowledge, understand, accept, and assume the following risks:

Smart contract risk: The platform relies on smart contracts that may contain bugs, vulnerabilities, or unintended behavior. Smart contracts are immutable once deployed (except where upgradeable) and errors may result in permanent loss of access or funds.
Cryptographic risk: FHE and zero-knowledge proof technologies used by the platform are emerging technologies with potentially undiscovered limitations. Advances in computing, cryptanalysis, or mathematics may compromise their security properties.
Network risk: Blockchain networks are subject to instability, congestion, forks, reorganizations, 51% attacks, validator failures, and other disruptions that may affect transaction processing or finality.
Third-party risk: The platform depends on external services and protocols (see Third-Party Dependencies). Failures, breaches, or discontinuation of these services may impact your use of Privara.
Upgradeability risk: Smart contracts may use upgradeable proxy patterns. Upgrades may change contract behavior, storage layout, or access controls. While intended to fix issues, upgrades carry risk of introducing new vulnerabilities.
Regulatory risk: The regulatory landscape for blockchain technology, stablecoins, privacy-preserving protocols, and digital assets is evolving. Changes in laws or regulations in any jurisdiction may adversely affect the legality, availability, or functionality of the platform.
Authentication risk: Passkey-based authentication depends on device security and biometric systems. Loss of access to registered devices, compromised biometric data, or device failures may result in permanent loss of wallet access.
Bridge risk: Cross-chain bridge operations carry risks of delays, failures, and potential loss of tokens due to smart contract exploits, attestation failures, or chain reorganizations.

This list of risks is not exhaustive. You should carefully evaluate whether using the platform is appropriate for your circumstances and risk tolerance. If you do not understand or accept these risks, do not use the platform.

Disclaimers

ALPHA PRODUCT ON TESTNET: Privara is currently in private alpha, deployed on the Arbitrum Sepolia testnet. Our services are provided on an "AS IS" and "AS AVAILABLE" basis, without warranties of any kind, either express or implied.

We specifically disclaim:

Any warranties of merchantability, fitness for a particular purpose, or non-infringement
Any guarantee that our services will be uninterrupted, timely, secure, or error-free
Any guarantee regarding the reliability, accuracy, or completeness of any information provided
Any liability for delays, interruptions, or errors in access to our services
Any warranty regarding the performance, security, or reliability of FHE encryption, smart contracts, or blockchain operations
Any warranty that testnet behavior will correspond to future mainnet behavior
Any warranty regarding the availability, value, or transferability of any tokens on the platform

NO FINANCIAL ADVICE: Nothing in our services, website, documentation, or communications constitutes financial, investment, tax, legal, or other professional advice. You should consult qualified professionals before making any financial decisions.

NO AUDIT REPRESENTATION: Unless explicitly stated otherwise, the smart contracts and cryptographic implementations used by the platform have not been independently audited. Use of unaudited code carries additional risk.

Limitation of Liability

TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, PRIVARA AND ITS OFFICERS, DIRECTORS, EMPLOYEES, AGENTS, AFFILIATES, SUCCESSORS, AND ASSIGNS SHALL NOT BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES, INCLUDING BUT NOT LIMITED TO:

Loss of profits, revenue, data, or use
Loss of tokens, digital assets, or cryptocurrency (whether on testnet or otherwise)
Loss of access to wallets or accounts
Business interruption
Cost of substitute services
Any other intangible losses
Damages arising from smart contract bugs, exploits, or vulnerabilities
Damages arising from third-party service failures or breaches
Damages arising from regulatory actions or changes in law

IN NO EVENT SHALL THE AGGREGATE LIABILITY OF PRIVARA ARISING OUT OF OR IN CONNECTION WITH THESE TERMS OR YOUR USE OF THE SERVICES EXCEED THE GREATER OF: (A) ONE HUNDRED US DOLLARS ($100 USD); OR (B) THE TOTAL AMOUNT YOU HAVE PAID TO PRIVARA IN THE TWELVE (12) MONTHS PRECEDING THE EVENT GIVING RISE TO THE CLAIM.

This limitation applies whether the alleged liability is based on contract, tort, negligence, strict liability, or any other basis, even if we have been advised of the possibility of such damages. Some jurisdictions do not allow the exclusion or limitation of certain damages; in such jurisdictions, our liability shall be limited to the maximum extent permitted by law.

Indemnification

You agree to defend, indemnify, and hold harmless Privara and its officers, directors, employees, agents, affiliates, successors, and assigns from and against any and all claims, liabilities, damages, losses, costs, or expenses (including reasonable attorneys' fees) arising out of or relating to:

Your use of or inability to use our services
Your violation of these Terms of Service
Your violation of any rights of another party
Your violation of any applicable laws or regulations
Any transaction you initiate or participate in through the platform
Any inaccurate information you provide
Your failure to maintain the security of your authentication credentials

Dispute Resolution

Informal Resolution

Before initiating any formal dispute resolution proceedings, you agree to first contact us at [email protected] and attempt to resolve the dispute informally for a period of at least thirty (30) days. Most disputes can be resolved through good-faith communication.

Binding Arbitration

If a dispute cannot be resolved informally, you and Privara agree that any dispute, claim, or controversy arising out of or relating to these Terms or the use of our services shall be resolved through binding arbitration rather than in court, except that either party may seek injunctive or equitable relief in a court of competent jurisdiction to prevent the actual or threatened infringement of intellectual property rights.

Class Action Waiver

YOU AND PRIVARA AGREE THAT EACH PARTY MAY BRING CLAIMS AGAINST THE OTHER ONLY IN YOUR OR ITS INDIVIDUAL CAPACITY, AND NOT AS A PLAINTIFF OR CLASS MEMBER IN ANY PURPORTED CLASS, CONSOLIDATED, OR REPRESENTATIVE PROCEEDING.

Governing Law

These Terms and any dispute arising out of or in connection with them shall be governed by and construed in accordance with the regulations of the RAK Digital Assets Oasis (RAK DAO) and, to the extent applicable, the federal laws of the United Arab Emirates, without regard to conflict of law principles.

The seat of any arbitration proceedings shall be Ras Al Khaimah, United Arab Emirates. Arbitration shall be conducted in the English language.

Termination

We may terminate or suspend your access to our services immediately, without prior notice or liability, for any reason, including but not limited to a breach of these Terms of Service.

You may terminate your relationship with us at any time by ceasing use of the platform and, if applicable, contacting us to request removal from our waitlist or deletion of your account data.

Upon termination, your right to use our services will immediately cease. You are responsible for withdrawing any tokens from your wallet prior to termination, to the extent possible on testnet. Provisions of these Terms that by their nature should survive termination shall survive, including but not limited to: ownership provisions, warranty disclaimers, assumption of risk, indemnity, limitations of liability, dispute resolution, and governing law.

Changes to Terms

We reserve the right to modify or replace these Terms of Service at any time at our sole discretion. When we make material changes, we will update the "Last updated" date at the top of this page and, where appropriate, notify you by email or through a prominent notice within the platform.

Your continued use of our services after any changes to these Terms constitutes acceptance of the revised terms. If you do not agree to the revised terms, you must discontinue use of the services.

Assignment

Privara (and its current developer, Reineira Labs FZE) may assign, transfer, or delegate these Terms and any rights and obligations hereunder to a successor or operating entity without your prior consent, provided that such entity assumes all obligations under these Terms. You may not assign or transfer these Terms without our prior written consent.

Severability

If any provision of these Terms is held to be invalid, illegal, or unenforceable by a court or arbitrator of competent jurisdiction, such invalidity, illegality, or unenforceability shall not affect any other provision of these Terms, which shall remain in full force and effect. The invalid or unenforceable provision shall be modified to the minimum extent necessary to make it valid and enforceable while preserving the original intent.

Contact Us

If you have any questions about these Terms of Service, please contact us at:

Email: [email protected]

General Support: [email protected]

Terms of Service