Terms of Service for BTC DCA

By using the BTC DCA feature, you confirm that you have read, understood, and agreed to these Terms of Service.

Effective Date: November 10th, 2024

These Terms of Service (“Terms”) apply to the BTC Dollar Cost Averaging (DCA) feature (“BTC DCA”) available in JPYT Wallet. By enabling and using the BTC DCA feature, users (“you”) agree to these Terms. Please read them carefully before proceeding, as they contain important information regarding your responsibilities and the limitations of this service.

Overview of BTC DCA Feature

The BTC DCA feature allows users to automate monthly BTC purchases with JPYT on the Optimism chain, following a Dollar Cost Averaging (DCA) investment strategy. This feature enables users to schedule BTC purchases in WBTC at a fixed interval of once per month on the 10th at 0:00 UTC.

Dollar Cost Averaging (DCA) Disclaimer

Dollar Cost Averaging is a widely-used investment strategy where a fixed amount is invested in an asset regularly over time. While DCA can help reduce the effects of price volatility and mitigate the impact of inflation, JPYT Wallet does not guarantee profits or protection from losses through the use of this strategy. Users are advised to consult with a financial professional before making investment decisions, as JPYT Wallet does not provide investment or financial advice.

Service Fee

Each automated BTC purchase using the BTC DCA feature incurs a 50 JPYT transaction fee. This fee covers the transaction gas cost and is deducted once per month on the 10th when the DCA purchase is executed. By enabling the BTC DCA feature, you agree to this monthly fee and acknowledge that it is subject to change with notice.

Optimism Chain and WBTC Requirement

The BTC DCA feature operates exclusively on the Optimism chain, meaning all BTC purchases are made in WBTC (Wrapped BTC) and require an Ethereum-compatible (0x) address for successful receipt.

WBTC Receipt Address

You must register a compatible 0x address to receive WBTC from each DCA transaction. It is your responsibility to ensure that the address provided is accurate and compatible with WBTC on the Optimism chain.

Incompatible Addresses

Using a centralized exchange (CEX) wallet to receive WBTC may result in a permanent loss of funds. Additionally, attempting to send WBTC to an internal JPYT Wallet account may cause technical issues and prevent successful transfer. We strongly recommend using MetaMask or KEYRING PRO to generate a dedicated 0x address for the BTC DCA feature.

User Responsibility and Risk Acknowledgment

By using the BTC DCA feature, you acknowledge and agree to the following:

Personal Responsibility

You bear full responsibility for the management of your DCA feature, including setting up a valid WBTC-compatible address, monitoring your DCA transactions, and managing your JPYT balance to cover transaction fees.

Loss of Funds Due to Incorrect Addresses

JPYT Wallet is not liable for funds lost due to the use of incompatible wallets or incorrect address entries. It is your responsibility to double-check all address information before registering for the BTC DCA feature.

Market Volatility and Investment Risk

Investing in BTC is inherently risky, and prices may fluctuate significantly. JPYT Wallet is not responsible for any gains or losses incurred through the BTC DCA feature. You acknowledge that the DCA strategy may not protect you from market downturns or volatility.

Modification, Suspension, or Termination of BTC DCA Feature

JPYT Wallet reserves the right to modify, suspend, or terminate the BTC DCA feature at any time with or without notice. In the event of a modification, any changes to the transaction fee or execution schedule will be communicated within the JPYT Wallet app. JPYT Wallet may also suspend or cancel a user’s access to the BTC DCA feature if it detects any fraudulent, illegal, or abusive activity.

Limitation of Liability

To the fullest extent permitted by law, JPYT Wallet and its affiliates, officers, directors, employees, and agents shall not be liable for:

Transaction Delays

Any delays or errors in the execution of DCA transactions due to network congestion or external factors outside of JPYT Wallet’s control.

Financial Losses

Any financial losses incurred by users due to market volatility, investment strategy failure, or the use of incompatible wallets for WBTC transactions.

Loss of Funds Due to Incorrect Addresses

Any loss of WBTC funds sent to incompatible or incorrect addresses registered by the user.

User Consent and Agreement

By enabling the BTC DCA feature in JPYT Wallet, you acknowledge and agree to these Terms of Service. You understand that JPYT Wallet does not guarantee any financial gain or protection from market losses and that the DCA feature is provided on an “as-is” basis without any warranty. If you do not agree with these Terms, please refrain from using the BTC DCA feature.

Contact Information

If you have any questions or concerns regarding these Terms or the BTC DCA feature, please contact JPYT Wallet support at [email protected].