Terms of Service

1. Introduction

Welcome to the Digital Monetary Framework (DMF). These Terms of Service govern your access to and use of the DMF protocol, website, and related services. By using DMF, you agree to be bound by these terms.

Digital Monetary Framework (DMF) uses Circle-issued USDC stablecoins as reserve assets for dmfUSD account units. DMF is NOT affiliated with, endorsed by, sponsored by, or in partnership with Circle Operations Limited, Circle Holdings Limited, or any Circle-related entities. dmfUSD is an independent project with no official connection to Circle.

DMF is a fully autonomous smart contract protocol deployed on the Base blockchain. Interactions with the protocol are executed through immutable smart contracts, not through any intermediary.

2. Eligibility

You must be of legal age in your jurisdiction to use DMF. The protocol is intended for users who understand the technical and financial risks associated with blockchain-based assets. By using DMF, you represent that you are not a restricted person or entity under applicable sanctions regimes.

Access to the protocol may be restricted or prohibited in certain jurisdictions. It is your responsibility to determine whether your use of DMF complies with applicable laws and regulations in your jurisdiction.

3. Use of the Protocol

DMF enables users to mint and redeem dmfUSD tokens, a fully-backed digital account unit. The protocol operates through immutable smart contracts deployed on the Base blockchain. All transactions are executed on-chain and are subject to network fees and confirmation times determined by the Base network.

Users interact with the protocol directly through compatible blockchain wallets. DMF does not custody or control user funds at any time. Users retain full control over their assets and private keys at all times.

You are solely responsible for maintaining the security of your wallet and private keys. DMF cannot recover lost keys, reverse transactions, or modify protocol behavior.

4. Risks

Using DMF involves significant risks, including but not limited to: smart contract vulnerabilities, market volatility, regulatory changes, network congestion, and user error. You should carefully review the Risks & Assumptions page for a detailed discussion of system guarantees, assumptions, and limitations.

The value of dmfUSD depends on the underlying USDC reserves and the proper functioning of the smart contracts. Neither outcome is guaranteed. Past performance does not predict future results.

You should never risk more than you are willing to lose. DMF is an experimental protocol and should be treated as such.

5. No Guarantees

DMF is provided "as is" and "as available" without any warranties of any kind, express or implied. The protocol makes no guarantees regarding the continuous, uninterrupted, or secure operation of the smart contracts, the underlying blockchain, or any integrated services.

dmfUSD is backed by USDC held in the smart contract, and backing-per-token is designed to grow as fees accumulate. This still depends on the solvency of the smart contract reserves and the redemption guarantees of the underlying USDC issuer. Neither is guaranteed.

6. Limitation of Liability

To the fullest extent permitted by applicable law, DMF, its contributors, and related parties shall not be liable for any indirect, incidental, special, consequential, or punitive damages, or any loss of profits or revenues, whether incurred directly or indirectly, or any loss of data, use, goodwill, or other intangible losses, resulting from:

• Your use of or inability to use the protocol
• Any unauthorized access to or use of the protocol
• Any interruption or cessation of transmission to or from the protocol
• Any bugs, viruses, or other malicious code transmitted through the protocol
• Any errors, omissions, or inaccuracies in the protocol's operation

7. Modifications

These Terms of Service may be updated from time to time. Material changes will be communicated through the DMF website. Continued use of the protocol after changes constitutes acceptance of the updated terms. For the avoidance of doubt, the smart contracts themselves are immutable and cannot be modified once deployed.

8. Governing Law

These terms shall be governed by and construed in accordance with the laws of the jurisdiction in which the user resides, to the extent applicable. Any disputes shall be resolved through binding arbitration in accordance with standard international arbitration rules. Users retain the right to seek injunctive or other equitable relief in any court of competent jurisdiction.

9. Contact

For questions about these Terms of Service, please reach out through the official DMF communication channels. The protocol has no central operator, but community and development resources are available for general inquiries.