Privacy Policy
Privacy Policy & Terms of Service
HOT Labs, together with its affiliates (“we,” “us,” or “our”), provides non-custodial wallet software and related services through its website located at https://hot-labs.org/ and associated mobile applications (collectively, the “Services” or HOT Wallet). This agreement also covers the embedded HOT Bridge and HOT MPC wallet functionalities, both of which operate on top of the open-source HOT Protocol and a network of independent validators.
By accessing or using our Services, you acknowledge that you have read, understood, and agree to be bound by these Terms of Service (the “Terms”), along with any other policies or notices we provide, including but not limited to our Privacy Policy.
1. Agreement to Terms
By accessing or using HOT Wallet (including HOT Bridge and HOT MPC services), you affirm that:
- You have read and understood these Terms.
- You agree to be bound by these Terms.
- You have the legal capacity to accept these Terms.
If you do not agree with any part of these Terms or any subsequent modifications, you must discontinue using our Services.
2. Privacy Policy
For information on how we collect, use, and disclose data from our users, please refer to our Privacy Policy at https://hot-labs.org/privacy-policy.html. By using the Services, you consent to the collection, use, and/or disclosure of information (including personal data) in accordance with our Privacy Policy.
3. Updates to the Terms or Services
We reserve the right, at our sole discretion, to modify these Terms at any time. Any changes will be announced through reasonable means, such as posting the updated Terms on our website or in the mobile application. If you continue to use HOT Wallet or any embedded services (e.g., HOT Bridge or HOT MPC) after these changes are posted, it indicates that you accept the revised Terms.
We may also change or discontinue any portion of the Services at any time without prior notice.
4. Eligibility
You must be at least eighteen (18) years old and legally competent to enter into these Terms. If you are using the Services on behalf of a legal entity, you represent that:
- The entity is duly organized and validly existing under applicable laws.
- You have the authority to bind that entity to these Terms.
You are solely responsible for ensuring that using HOT Wallet, HOT Bridge, and HOT MPC is legal in your local jurisdiction. We reserve the right to refuse or revoke access to the Services for any reason and at any time.
5. Our Services
HOT Wallet is non-custodial wallet software for managing digital assets, such as cryptocurrencies and NFTs. We do not store your crypto assets and do not have access to your private keys, passwords, or seed phrases (Secret Phrases). We only provide software that enables you to manage your digital assets independently. We do not offer custody services for cryptocurrencies.
Our Services include, but are not limited to:
Wallet Generation:
Generate wallet addresses and corresponding private keys to send and receive digital assets.
DApp and DEX Access:
Access third-party decentralized applications (“DApps”) and decentralized exchanges (“DEX”) through our mobile application.
Swapping/Trading:
Swap or trade digital assets via third-party DApps or DEX functionality.
Staking:
Stake certain digital assets through third-party staking services.
Price Information:
View digital asset price information provided by external service providers.
Transaction Broadcast:
Broadcast transaction data to various blockchains supported by HOT Wallet without installing or downloading separate blockchain software locally.
HOT Bridge:
A bridging functionality built on top of HOT Protocol that enables you to move digital assets between supported blockchains. This system relies on a network of independent validators, and HOT Labs performs KYC checks on the validators it collaborates with. However, we do not assume any liability for the validators’ actions or any outcomes resulting from their decisions.
- HOT Protocol is designed to maintain security and stability even in scenarios where up to 66% of validator nodes are compromised.
- Your use of HOT Bridge relies on your independent evaluation of its open-source code, any available community audits, and the underlying validator network, and should only be undertaken if you are confident in these resources.
HOT MPC:
A multi-party computation (MPC) wallet functionality built on top of HOT Protocol, leveraging a decentralized set of validators and cryptographic techniques. As with HOT Bridge, HOT Labs does not assume liability for any validator actions or outcomes. We also perform KYC checks on validators we collaborate with for HOT MPC, yet we cannot guarantee their reliability.
- HOT Protocol’s design is resilient to potential disruptions, including attempts to compromise up to 66% of validator nodes.
- Your use of HOT MPC is similarly dependent on your own assessment of the protocol’s open-source code, audits, and validator framework.
5.1 Wallet Address, Private Key, and Backup
- Backup: You can store an encrypted backup of certain wallet information on supported devices.
- Security: You are fully responsible for keeping your private keys and Secret Phrase secure. Losing them may result in permanent loss of access to your digital assets. We cannot recover lost passwords, private keys, or seed phrases.
- No Data Storage: We do not store your password, private key, or seed phrase on our servers. If you lose these data, it is impossible to restore access to your crypto assets.
5.2 Use of DApps and DEX
When using DApps or DEX through HOT Wallet:
- HOT Wallet is not responsible for the services or content provided by third-party DApps or DEX. All transactions and related risks are your sole responsibility.
- Limits on amounts you can exchange may be defined by the respective third-party smart contracts.
- Blockchain transactions are irreversible. It is your sole responsibility to ensure that you enter correct addresses, use suitable node servers, and review all transaction details carefully.
- Third-party service providers may charge fees. Any fee information shown in HOT Wallet is for reference only and may be incomplete or inaccurate. We disclaim any liability for losses caused by reliance on such information.
- HOT Wallet does not currently charge fees for using DApps or DEX but may do so in the future upon notice.
5.3 Staking Service
If you utilize staking services through third parties, your digital assets may be staked on a blockchain network to earn staking rewards. HOT Wallet is not responsible for:
- Ensuring continuous staking or the availability of certain assets for staking.
- Any specific outcomes of staking, including distribution of rewards.
5.4 Buying Digital Assets with Credit or Debit Cards
If you purchase crypto assets through third-party providers using HOT Wallet:
- HOT Wallet is not responsible for the services of such third-party providers, exchange rates, or fees charged by your bank or credit card issuer.
- You must abide by the third party’s terms and conditions.
- We cannot cancel or modify your purchase requests after you submit them to the third party.
5.5 Digital Asset Transactions
Blockchain networks confirm and record transactions independently. We do not control these networks and cannot ensure quick or successful transaction confirmations. By using HOT Wallet, you acknowledge that:
- We cannot cancel or modify a transaction once it has been broadcast to the blockchain.
- Transactions may remain unconfirmed or be significantly delayed by the network.
- We do not store, send, or receive digital assets on your behalf.
- We do not guarantee the transfer of ownership or any rights in digital assets.
5.6 Accuracy of User-Provided Information
You are responsible for the accuracy and completeness of all information you provide. Any errors, such as mistyped addresses or incorrect transaction amounts, are solely your responsibility.
6. Wallet Registration and Security
You must either import or create a wallet to use HOT Wallet. When creating a wallet, you will be assigned a private key. You agree to promptly notify us of any unauthorized access to your private key or other security breaches. However, you acknowledge that all risks related to the use of HOT Wallet remain solely with you, and you are responsible for protecting your private keys.
Recommended security measures:
- Create a strong, unique password for HOT Wallet (preferably different from your phone or other login passwords), and enable biometric authentication if available.
- Do not store private keys or seed phrases in plain text online or in unsecured locations.
- Restrict access to your devices.
- Use anti-malware and other protective measures on your devices.
- Notify us if you suspect any security breaches related to your wallet.
6.1 Push Notifications
You can choose to enable push notifications to stay informed about network congestion or the status of your transactions.
7. Payment and Fees
Any fees related to the Services (if applicable) will be displayed at https://hot-labs.org/ and/or within the HOT Wallet mobile application.
7.1 Transaction Fees (Gas)
You must ensure you have sufficient funds in your wallet to cover transaction fees (“gas”) before initiating a transaction. We disclaim any liability for failed transactions due to insufficient balance or gas.
7.2 Taxes
You are solely responsible for determining and paying any taxes applicable to your transactions. We do not calculate, collect, or remit taxes for you.
8. Third-Party Services and Content
Any reference to third-party products or services within HOT Wallet does not imply endorsement or recommendation. We may modify or remove any third-party services at our discretion. If you grant third-party services access to your wallet, you assume all risks associated with it.
9. Intellectual Property
9.1 License
We grant you a non-exclusive, non-transferable, and non-sublicensable license to use HOT Wallet (including HOT Bridge and HOT MPC components) solely for your personal or internal business purposes. It is prohibited to:
- Copy, modify, or create derivative works based on HOT Wallet.
- Rent, lease, distribute, or sublicense HOT Wallet.
- Use HOT Wallet to benefit third parties or build competing products.
- Circumvent any usage restrictions implemented by HOT Wallet.
- Reverse-engineer or otherwise attempt to obtain the source code of HOT Wallet (except where permitted by applicable law).
- Remove or conceal any proprietary notices related to HOT Wallet.
9.2 Feedback
If you choose to provide us with feedback or suggestions for improving HOT Wallet, we are free to use such feedback without any obligation or compensation to you.
9.3 Open Source
HOT Wallet is developed under a GPL open-source license. You can find the source code and additional details at https://github.com/hot-dao. GPL is a copyleft license, meaning any modified versions must be distributed under the same license terms.
9.4 Content
All text, graphics, and other materials (the “Content”) within HOT Wallet may be protected by copyright, trademark, or other intellectual property rights. Unless otherwise noted, all rights to the Content belong to us. Using HOT Wallet does not transfer any ownership rights in the Content. You must not copy, distribute, sell, license, or otherwise exploit the Content without prior written consent from HOT Labs.
9.5 NFT Content
By storing NFTs in HOT Wallet, you represent and warrant that you own or have the necessary rights to the content associated with the NFT (“NFT Content”). You retain your rights to the NFT Content; however, you grant us a limited license to host, store, and display that content as necessary to operate HOT Wallet. We do not monitor NFT Content for infringement, and any disputes regarding NFTs or NFT Content must be resolved directly by the respective parties. You agree to release HOT Labs from any claims arising from your interactions with NFTs or NFT Content.
10. Your Use of HOT Wallet
You agree not to:
- Violate any law or regulation, including anti-money laundering or anti-terrorism financing regulations.
- Use HOT Wallet for illegal transactions, fraud, or prohibited activities.
- Encourage or facilitate others to violate the above.
- Impersonate another individual or use their wallet without authorization.
- Interfere with or disrupt the Services, place excessive load on our or third-party infrastructures, or introduce viruses or malicious code.
- Circumvent security features or other protective measures in HOT Wallet.
- Infringe on the rights of HOT Labs, other users, or any third party.
We reserve the right to take any necessary action—including suspending or terminating your access—if we suspect or determine that you have violated these Terms or applicable laws.
11. Limitation of Liability & Disclaimer of Warranties
You acknowledge and agree that we do not control and have no duty to act regarding:
- Failures, disruptions, or delays in blockchain transaction processing.
- Hardware, software, or internet connectivity issues.
- Unauthorized access to your wallet or private key due to your failure to maintain security.
- Unknown vulnerabilities or unexpected changes in any supported blockchain.
- The performance or reliability of HOT Protocol’s independent validators involved in HOT Bridge or HOT MPC transactions, even though HOT Labs performs KYC checks on the validators it collaborates with.
You release HOT Labs from all liability for any losses, damages, or claims arising from, among other things:
- User errors (e.g., forgotten passwords, incorrect addresses, or amounts),
- Server failures or data loss,
- Unauthorized access to the HOT Wallet application,
- Bugs or errors in HOT Wallet software,
- Malicious attacks or phishing attempts on your account or devices,
- Actions or inactions of independent validators within HOT Protocol,
- Reliance on public audits or open-source code security for HOT Bridge and HOT MPC,
- Any compromise of up to 66% of validator nodes, given that the protocol is designed to maintain security in such scenarios but outcomes may still vary.
We do not endorse or guarantee the accuracy of any third-party content or services provided through HOT Wallet. Such relationships are exclusively between you and the third party.
11.1 Limitation of Liability
To the fullest extent permitted by law, under no circumstances shall HOT Labs, its affiliates, or any of their respective officers, employees, or agents be liable for direct, indirect, incidental, special, consequential, or punitive damages of any kind (including lost profits or business opportunities) arising out of or related to your use of the Services, even if we have been advised of the possibility of such damages.
In jurisdictions that do not allow disclaimers of implied warranties or limitations of liability, our liability will be limited to the greatest extent permitted by law. Where permitted, our total liability shall not exceed one hundred U.S. dollars ($100.00).
11.2 Disclaimer of Warranties
HOT WALLET (INCLUDING HOT BRIDGE AND HOT MPC) IS PROVIDED “AS IS,” WITHOUT WARRANTIES OF ANY KIND, WHETHER EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT. We do not guarantee that:
- The Services or Content will always be accurate, complete, or free of harmful components.
- The results obtained from using the Services will meet your expectations.
- The HOT Protocol validator network will operate without errors or interruptions.
- Public audits and open-source code associated with HOT Protocol, HOT Bridge, or HOT MPC will safeguard against all vulnerabilities, including potential attempts to compromise up to 66% of validator nodes.
12. Indemnification
To the extent permitted by law, you agree to defend, indemnify, and hold harmless HOT Labs, its affiliates, and their respective officers, employees, and agents from any claim, losses, liabilities, or expenses (including attorneys’ fees) arising out of or related to:
- Your use of the Services (including HOT Bridge and HOT MPC),
- Feedback or submissions you provide,
- Your violation of any rights of third parties,
- Your violation of these Terms or applicable law.
13. Time Limitation on Claims
Any claim arising out of your relationship with us must be brought within one (1) year of the date the claim arose; otherwise, the claim is waived and time-barred.
14. Governing Law
Regardless of where you are located, these Terms and the relationship between you and us shall be governed by the laws of the State of California, without regard to conflict-of-law principles. Any disputes shall be subject to the exclusive jurisdiction of the state or federal courts located in California. You waive any objection regarding venue or forum.
15. Note to International Users
If you access the Services from regions with different laws or regulations governing data collection and use, please note that we do not collect or process your personal information except as described in our Privacy Policy. By using our Services, you consent to the transfer and processing of your information in the United States in accordance with our Privacy Policy.
16. Termination
If your license to use HOT Wallet is terminated, any obligations intended to survive will remain in effect. Your continued access to your funds after termination will depend on your external backup of your wallet address and private keys.
17. Discontinuance of Services
At our sole discretion, we may modify or discontinue any portion of the Services at any time without prior notice and without liability to you. You are solely responsible for keeping an external backup of your wallet address and private keys. If you do not maintain a backup, you may lose access to any digital assets. We bear no responsibility for such loss.
18. No Waiver
Our failure or delay in exercising any right or remedy under these Terms does not constitute a waiver. A valid waiver is only effective if in writing and signed by an authorized representative of HOT Labs.
19. Severability
If any provision of these Terms is found to be invalid or unenforceable, that provision shall be severed or modified to the minimal extent necessary, and the remaining provisions shall remain in full effect.
20. Arbitration & Waiver of Class Action
Any disputes arising out of these Terms or your use of the Services shall be resolved by binding arbitration in San Francisco, California, under the American Arbitration Association (AAA) rules for consumer-related disputes. Each party waives the right to a jury trial and to participate in a class action. The arbitration award may be enforced in any court with proper jurisdiction.
21. Force Majeure
We are not liable for any delay or failure to perform due to causes beyond our reasonable control, including natural disasters, acts of terrorism, wars, labor disputes, equipment failures, or internet outages. Such events do not affect the validity or enforceability of any remaining provisions.
22. Assignment
We may assign or transfer any of our rights and obligations under these Terms without your consent. These Terms shall bind and inure to the benefit of the parties and their successors or permitted assigns. You may not assign or otherwise transfer your rights or obligations without our prior written approval.
23. Entire Agreement
These Terms and any policies referenced herein, including our Privacy Policy, constitute the entire agreement between you and HOT Labs regarding your use of HOT Wallet, HOT Bridge, and HOT MPC. They supersede all prior agreements. Any modifications to these Terms must be in writing and signed by both parties to be valid.
Last Updated: 12/25/2024
If you have any questions or concerns about these Terms or our Privacy Policy, please contact us at [email protected]