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Terms for Revuto Crypto Wallet

You are about to use the Revuto Crypto Wallet. We're excited for you!

We need you to carefully read, understand and accept our Terms for Revuto Crypto Wallet and Additional Services.

The Terms for Revuto Crypto Wallet together with all appendices constitute a legally binding agreement between You and the Affiliate (as defined in Terms of Use) meaning Revuto Savjetovanje d.o.o, a company registered in Croatia, Vladimira Nazora 21, 10000 Zagreb, CIN 05361567). By clicking the accept button, accessing, downloading, using or attempting to use Revuto Crypto Wallet you confirm that you agree to these terms. When we say “we” or “us” in these terms, we mean Revuto Savjetovanje d.o.o.

The Terms for Revuto Crypto Wallet apply in addition to the Revuto Terms of Use  including any documents and any linked terms. Any capital letter term in the Terms for Revuto Crypto Wallet will have the same meaning as in Revuto Terms of Use if not defined herein. In the absence of an explicit provision, all provisions from  Terms of Use apply to the use of Wallet. In the event of direct contradiction between Terms of Use and Terms for Revuto Crypto Wallet regarding the same subject matter, the latter shall prevail. Titles and headings provided in the Terms for Revuto Crypto Wallet are for convenience and ease of access only and they will not affect the interpretation of the terms.

If you do not agree with any of the terms, do not use the Wallet.

Your use of the Wallet is also subject to our Privacy policy.

1. Disclaimer on the value of cryptocurrencies

Revuto is a blockchain project, but unlike other similar projects, REVUTO OÜ strives to bring crypto to the mainstream world by integrating it with its flagship product Revuto App.

However, the User is fully and solely responsible for evaluating their use of cryptocurrencies and Revuto Services. Each User understands that the VALUES OF CRYPTOCURRENCIES (as defined below) MAY FLUCTUATE SIGNIFICANTLY DEPENDING ON MARKET CONDITIONS AND OTHER RISKS AND THE USER UNDERSTANDS AND ACCEPTS A SUBSTANTIAL RISK OF ECONOMIC LOSS ASSOCIATED WITH HOLDING, PURCHASING, SELLING OR TRANSACTING IN CRYPTOCURRENCIES. BY ACCEPTING THESE TERMS THE USER ACKNOWLEDGES AND AGREES THAT:

(1) THESE RISKS ARE ASSOCIATED TO THE USE OF REVUTO SERVICES AND THE USER ACCEPTS SUCH RISK;

(2) REVUTO OÜ OR ITS AFFILIATE SHALL NOT BE LIABLE FOR ANY SUCH RISKS OR ADVERSE OUTCOMES.

2. What is Revuto Crypto Wallet?

Revuto is the first subscription management service that allows payments in crypto. Users who wish to pay for their subscriptions using crypto will need to download Revuto's Crypto Wallet (hereinafter: Wallet) within the Revuto App. Crypto Wallet is a software program which interacts with the blockchain network to generate and manage sets of private keys and public keys, configure transactions and monitor their balance. The Revuto Crypto Wallet is a digital cryptocurrency non-custodial mobile wallet supporting all Cardano-based tokens, while by default including REVU and ADA.

From time to time REVUTO OÜ may introduce upgrades and new features to the Wallet. The User must ensure to keep the Wallet software updated at all times.

3. How does the Revuto Crypto Wallet work?

The Wallet has specific functionalities allowing for automatic pull payments. In order to pay for subscriptions using cryptocurrency, the Users will first need to approve the REVU or EURr stablecoin from within their Wallet. After the User sets up the Wallet for recurring payments, the Wallet will invoke the smart contract, permitting the server Wallet to spend the funds from the User's Wallet at specific points in the future.

Additionally, to be able to withdraw ADA, and the REVU token obtained in our Token Sale or through Revuto Referral Program in accordance with the rules under the Token Sale Whitepaper, a User who has previously successfully completed the KYC, has to create the Wallet within the Revuto App.

For clarity, a User who has not gone through the KYC successfully may not obtain any REVU token or ADA or any other cryptocurrency.

The User must at all times follow the Wallet Guidelines explained here.

4. Usage Requirements

The Wallet can only be used by the owner of the User account who has previously successfully passed the KYC. The User understands that REVUTO OÜ, and the User must at all times comply with the AML/CTF. The User understands that the User may not use the Wallet or withdraw any cryptocurrencies before going through KYC successfully. The User acknowledges and agrees that REVUTO OÜ may require additional data or identity checks at the point of application for any Revuto Service. REVUTO OÜ reserves the right to forbid, suspend, freeze or cancel the use of the User account and the Wallet by persons other than the owner of the User account or in the event Revuto obtains information or suspects that User has provided false information even after the KYC procedure has been completed.

If a User suspects or becomes aware of any unauthorized use of its username and password, the User should notify REVUTO OÜ immediately. REVUTO OÜ assumes no liability for any loss or damage arising from the use of Wallet by you or any third party with or without your authorization.

5. Wallet Security

As with any Cardano wallet, when you set up the Wallet, a pair of keys is being generated: the public and the private key.

The private key is connected to the Wallet public address and, together, they can be used to authorize the transfer of cryptocurrency to and from the Wallet public address.

REVUTO OÜ has implemented industry security standard protection for the Wallet. However, the actions of individual Users may pose risks.

You agree to treat your access credentials (such as username and password), PINs, private keys, seed phrase (mnemonic), and other credentials as confidential information, and not to disclose such information to any third party. You also agree to be solely responsible for taking the necessary security measures to protect your User account and personal information.

The Wallet stores your Wallet public address but does not receive or store your Wallet password, encrypted private key, unencrypted private key, secret key or Wallet seed phrase associated with your Wallet. We cannot, therefore, assist you with Wallet password retrieval. We cannot generate a new password for your Wallet if you fail to remember your original password. If you have not safely stored a backup of any Wallet address and private key pairs maintained in your Wallet, you accept and acknowledge that any cryptocurrency you have associated with such a Wallet address will become inaccessible if you do not have your Wallet password.

The User is solely responsible for all the transactions under the User account and Wallet. REVUTO OÜ assumes no liability for any loss or consequences caused by authorized or unauthorized use of User account or Wallet credentials.

The User also understands that the secret keys are held securely on the device on which the Revuto App has been installed and not on servers in ownership or control of REVUTO OÜ and its Affiliates.

You hereby agree that:

  1. you will notify REVUTO OÜ immediately if you are aware of any unauthorized use of your Revuto account and/or Wallet or any other violation of security rules;
  2. you will strictly abide by all mechanisms or procedures of REVUTO OÜ regarding security, authentication, trading, charging, and withdrawal.

User agrees that User should never share User's certificate with any natural or legal person, including Cardano Foundation, or any other entity. Further, User acknowledges that sharing User's certificate may result in loss of User's cryptocurrency, and User agrees that REVUTO OÜ shall not be responsible for such loss.

6. Inability to Access the Wallet and Recovery

The User understands and accepts that all transaction requests are irreversible.

User acknowledges that REVUTO OÜ shall not be responsible for transferring, safeguarding, or maintaining private keys and/or User's cryptocurrency. If User loses access to Wallet and/or User account or private keys, the User understands that any cryptocurrency within the Wallet will become inaccessible. Revuto and its shareholders, Affiliates, officers, directors, employees and agents cannot retrieve User's private keys and/or credentials and enable the access to the Wallet.

The only option for the User to restore the Wallet within the Revuto App is by entering the User's seed phrase. Seed phrase is a 24-word which the User receives upon creating the Wallet.

If the User moves the Revuto App to another device or choses to delete the Revuto App, the cryptocurrencies can only be recovered with the seed phrase.

If Revuto Services are unavailable or suspended, you can always recover your wallet by using your seed phrase on any compatible wallet.

7. Disclaimer of Warranties

Your use of Wallet is at your sole risk. The service is provided on an "as is" and "as available" basis.

User is solely responsible for any damage User may suffer resulting from the use of the Wallet. No oral or written information or advice given by REVUTO OÜ or its authorized representatives or its Affiliates shall create a warranty or in any way create or increase the scope of REVUTO OÜ's obligations or create obligations of its Affiliates.

REVUTO OÜ makes no representations about the suitability, reliability, availability, continuity and timeliness of the Wallet.

Users understand and accept that some transactions facilitated or enabled by Revuto may be delayed, and that REVUTO OÜ or its Affiliates shall not be responsible for any associated loss.

In order to be completed, all proposed cryptocurrency transactions must be confirmed and recorded in the associated public blockchain. Such networks are decentralized, peer-to-peer networks supported by independent third parties, which we do not own, control, or operate. We have no control over the blockchain networks and, therefore, cannot and do not ensure that any transaction details that you submit via Revuto Services will be confirmed and processed. By using the Wallet, you acknowledge and agree that the transaction details you submit may not be completed, or may be substantially delayed, by blockchain networks and that REVUTO OÜ makes no warranties in this regard.

8. Exclusion of Liability

In addition to the Exclusion and Limitation of Liability clause in Terms of Use, You understand and agree that we have no control over, and no duty to take any action regarding:

1. The risk of failure of hardware, software behind the Wallet, and Internet connections;

2. The risk of malicious software being introduced or found in the software underlying the Wallet or Revuto App;

3. The risk that third parties may obtain unauthorized access to information stored within your Wallet, including, but not limited to your Wallet address, private key, and seed phrase;

4. The risk of unknown vulnerabilities in or unanticipated changes to the blockchain networks.

Additionally, you release us from all liability related to any losses, damages, or claims arising from:

a) server failure or data loss;

b) unauthorized access to the Wallet;

c) bugs or other errors in the Wallet;

d) any unauthorized third party activities, including, but not limited to, the use of viruses, phishing, brute forcing, or other means of attack against Wallet or Revuto App;

e) your failure to update the Wallet software.

The User also acknowledges that REVUTO OÜ and its Affiliates have no liability associated with the following risks:

i) Blockchain technologies are subject to continuous regulatory changes and scrutiny around the world, including but not limited to anti-money laundering and financial regulations. You acknowledge that certain Services, including their availability, could be impacted by one or more regulatory requirements.

ii) Transactions in cryptocurrencies (including but not limited to exchanges, air-drops, forks, and gains), may be subject to taxation. These rules may be unclear or subject to change, and you are therefore encouraged to obtain advice from an expert.

 


Appendix I: Additional Services

In addition to the Revuto Services defined in the Revuto Terms of Use and Terms for Revuto Crypto Wallet, the following services (hereinafter: Additional Services) are available to eligible Users who chose to use such services. The following terms for Additional Services constitute a part of the Agreement between a User and Affiliate provided the User opts to use all or any of the Additional Services.

1.   Revuto Staking Center

Staking. Revuto Staking Center provides an opportunity for Users to benefit from ‘staking’ their cryptocurrency into a pool of crypto and earn interest or rewards/prize. Staking presupposes allowing custody over the User’s cryptocurrency to the entity that is in control of wallet where crypto is deposited or on the „owner“ of the smart contract. Together with other crypto investors a User can lock up/send to another wallet their cryptocurrency together to a pool, and then receive a portion of the staking rewards minus the pool’s fees (hereinafter: “Staked Assets”). In other words, the Users use their Staked Assets for the chance to earn passive income. For the purpose of the Agreement, staking will mean the use of staking Service provided by Revuto (as described below) by the User.

Staking options on Revuto Crypto Wallet. From time to time, we will be adding various staking options (pools) to the Revuto Staking Center, as published on https://getrevuto.medium.com/ or via in Revuto App. Before deciding on using any of these staking options, please read all the terms of such staking option and make sure you understand the instructions, risks and benefits. Please also note that some staking options require a certain amount of Staked Assets be restricted from any transfer for a certain period of time (hereinafter: Locked Period) while staking or may have additional sale or withdrawal limitations for particular Staked Assets. If a User decides to participate in staking, the User acknowledges and agrees that Staked Assets may not be withdrawn prior to the conclusion of the Locked Period. The User is expected to have knowledge of blockchain technology, staking, accounts, keys, and details of Cardano. The User is further expected to have conducted their own thorough investigation of Cardano, cryptocurrencies, and other matters considered in this Agreement in determining to use the Staking Service.

Staking Service, APR, and Exit Fees. If you stake your assets via Revuto Crypto Wallet, we will facilitate the staking of those cryptocurrency on your behalf (hereinafter: Staking Service). By using the Staking Service, you may earn a reward granted by such staking option (hereinafter: Revenue Payment).

The Revenue Payment means the percentage of the net revenue directly attributable to Staked Assets. Net revenue is calculated based on the APR and Exit Fee (as explained below).

APR meaning Annualized Percentage Rate is annualized historical rate based on the staking rewards generated by us in providing staking services to Users for the Staked Assets. It is based on mathematical formula of % you get on your initial amount of Staked Assets. For instance, 10% APR on 1000 tokens will give you 100 tokens after 1 year period.

On Cardano blockchain for every transaction there is following formula for calculating the fee:

A + B * size = approx 1,7 ADA at the moment

Revuto uses this fee for base and recalculate it in dollar terms and then use this amount to calculate how much REVU (based on MV) is needed for this fee. This fee in Revu is taken off the staking rewards and it is called the Exit Fee in addition to Exit Fee, we may charge our fee as further explained here.

We will distribute the Revenue Payment to you, minus the Exit Fee.

Taxes. User shall be responsible for payment of all applicable taxes, if any, to which the Revenue Payments might be subject and any and all other taxes applicable to the User. We make no representation in this regard. User agrees to indemnify and hold us harmless against any taxes, including penalties, duties and interest levied by any authority on the Revenue Payments. Neither we nor any of our agents shall provide any advice or guidance with respect to the tax obligations of the User. You are strongly encouraged to seek advice from your own tax advisor to discuss the potential tax consequences of entering into this Agreement and the receipt of any Revenue Payment.

No Guarantee of Rewards and the associated risks. Revenue Payment will be distributed to the User Account and will be visible on Revuto Crypto Wallet once the rewards are received by us. You may not receive any Revenue Payment prior to such a condition.

WE DO NOT GUARANTEE THAT YOU WILL RECEIVE ANY STAKING REVENUE REWARDS.

In addition to Exclusion and Limitation of Liability clauses elsewhere in the Agreement, you acknowledge and accept that the value of cryptocurrency fluctuate which will influence the Revenue Payment value.

2.   Revulution NFTs

Revulution NFTs for free Netflix or Spotify. Free Netflix or Spotify NFT (hereinafter: NFT) is a non-fungible token with a unique color scheme (5 colors in 25 fields) that provides its owners with the possibility to get covered their expenses for their standard digital subscriptions to Netflix or Spotify. One NFT provides the possibility to get covered expenses for standard monthly digital subscriptions to Netflix (hereinafter: NFT for Netflix - NTX) or standard monthly digital subscriptions to Spotify (hereinafter: NFT for Spotify - Spf).

NFT does not provide a free subscription, but the possibility to get covered standard digital subscription expenses for Netflix or Spotify services (depending on whether you own NFT for Netflix or NFT for Spotify) by using Revuto Virtual Debit Card. NFT does not represent a partnership between Netflix and/or Spotify service providers and us. We do not enter into any contractual relationship with Netflix or Spotify service providers. To cover subscription expenses, the User must make sure that their monthly subscription is active and that they have concluded all necessary agreements with Netflix and/or Spotify services providers (depending on whether you own NFT for Netflix or NFT for Spotify).

We will cover your expenses for a standard subscription to Netflix if you:

  1. Have NFT for Netflix in your Wallet,
  2. Have a monthly subscription to Netflix services,
  3. Are a User from the UK and EU (except Malta, Germany, and Austria) who has a Revuto Virtual Debit Card obtained in accordance with the Revuto Terms of Use issued for subscription to Netflix services, and registered with your account with Netflix,
  4. You are a Premium User and you staked REVU tokes in the value of at least EUR 150 for a period of at least 1 (one) year.

We will cover your expenses for a standard subscription to Spotify:

  1. Have NFT for Spotify in your Wallet,
  2. Have a monthly subscription to Spotify services,
  3. Are a User from the UK and EU (except Malta, Germany, and Austria) who has Revuto Virtual Debit Card obtained in accordance with the Revuto Terms of Use, issued for subscription to Spotify services, and registered with your account with Spotify,
  4. You are a Premium User and you staked REVU tokes in the value of at least EUR 150 for a period of at least 1 (one) year.

The NFT allows you to receive 4% cashback in REVU Tokens whenever we cover your standard digital subscription expenses for Netflix or Spotify services and Netflix or Spotify charges your Revuto Virtual Debit Card.

One User can own one or more NFTs but can use only one NFT for Netflix and one NFT for Spotify with one Netflix or Spotify account at a time.

The User may decide to upgrade their subscription to Netflix or Spotify services. In that case, we will cover your standard monthly subscription expenses for Netflix and Spotify (provided that you fulfill the above-stated conditions), and you must provide means to cover the difference between standard and upgraded subscription expenses 24 hours before every due date. If you fail to do so, we shall not be responsible for your subscription.

You may not return your NFT or require us to buyout your NFT.

NFT Referral Program. We offer participation in the NFT Referral Program and provide the User and the NFT buyer the possibility to receive cashback in Revu Tokes.

If the User purchases NFT via the Website using a unique referral link from the existing User (hereinafter: Recipient), the owner of the referred code (hereinafter: Referrer) and Recipient using the code when purchasing NFT will get 5% cashback in REVU Tokens from the total purchase. The exact amount of REVU tokens for the cashback will be calculated 60 days after we launch the custodial wallet and will be sent to the user's custodial wallet. In the meantime, both the Referrer and Recipient will be able to see the number of NFTs purchased with the code in the Revuto app (Referral section).

If the eligible Recipient uses the eligible Referrer’s unique referral link to purchase NFT via Website and sing-in with Revuto and become eligible to get covered their expenses for their standard digital subscriptions to Netflix or Spotify (depending on whether they own NFT for Netflix or NFT for Spotify), we will reward eligible Referrer with 6% of Recipient’s cashback in REVU whenever we cover Recipient’s standard digital subscriptions to Netflix or Spotify and Netflix or Spotify charges Recipient’s Revuto Virtual Debit Card. These rewards can be boosted to 12% or 18% depending if the user holds a Special NFT to boost those rewards.

By participating in the Revuto Referral Program the User accepts the Agreement, as well as further conditions explained on the Platform.

Taxes. User shall be responsible for payment of all applicable taxes, if any, to which the NFT or any benefit arising from or in connection with NFT might be subject and any and all other taxes applicable to the User. We make no representation in this regard. User agrees to indemnify and hold us harmless against any taxes, including penalties, duties, and interest levied by any authority on the NFT or any benefit arising from or in connection with NFT. Neither we nor any of our agents shall provide any advice or guidance with respect to the tax obligations of the User. You are strongly encouraged to seek advice from your own tax advisor to discuss the potential tax consequences of entering into this Agreement and the receipt of any NFT or any benefit arising from or in connection with NFT.

Exclusion of Liability. In addition to the Exclusion and Limitation of Liability clause in the Revuto Terms of Use and Exclusion of Liability clause herein, You understand and agree that we have no control over, and no duty to take any action regarding the risk of termination of Netflix and/or Spotify service, or Revuto business (project).

Additionally, you release us from all liability related to any losses, damages, or claims arising from your failure to access, update and keep active your Netflix and or Spotify account.

You understand and agree that Revuto Savjetovanje d.o.o is providing you the possibility to get covered standard digital subscription expenses for Netflix or Spotify services and that we are the only one obliged to provide you with such possibility and cover your expenses of standard digital subscription expenses to Netflix and Spotify if you fulfill the above-stated conditions. This obligation cannot be transferred to any third party due to any reason.

More about Revulution NFTs, and “Why to buy?” you can check at https://getrevuto.medium.com/revulution-nfts-4ea885cd9e14, or about “How and where to purchase?” at https://getrevuto.medium.com/how-and-where-to-purchase-revulution-nfts-e3f058bd5f8e