1. Acceptance of Terms
These Terms and Conditions (the “Terms”) govern your access to and use of the AsvaTok website and services (the “Platform”). By creating an account, accessing, or using the Platform, you agree to be bound by these Terms. If you do not agree, you must not use the Platform.
2. Eligibility
You must be at least 18 years of age and capable of entering into a binding contract to use the Platform. Access or use is prohibited where it would violate applicable law.
3. Account Registration and Security
To use certain features, you must register and provide accurate information. You are responsible for maintaining the confidentiality of your credentials and for all activity under your account. AsvaTok may use OTP-based authentication via registered mobile number and/or email to help secure your account.
4. KYC/AML and Verification
You agree to complete all KYC/AML checks required under applicable law, including the RBI Master Directions on KYC (2023) and the Prevention of Money Laundering Act, 2002 (PMLA). Verification may include Aadhaar-based OTP verification, PAN, and bank account validation. AsvaTok engages Perfios and other authorized providers to facilitate KYC in accordance with UIDAI and regulatory requirements.
5. Services and Nature of Tokens
The Platform enables the creation, purchase, transfer, redemption, and/or sale of native tokens and Real-World Asset (RWA) tokens. Each AsvaTok Coin is pegged at 1 INR for on-platform accounting purposes, while RWA token values are determined by market dynamics on the Platform. Nothing on the Platform constitutes investment, legal, tax, or other professional advice.
6. Transactions, Orders, and Settlement
Transactions may be executed on-chain and/or recorded off-chain as applicable. Once submitted, orders may be irreversible. You are responsible for reviewing order details prior to submission. Settlement times are subject to network conditions, custodial workflows, and third-party providers.
7. Fees, Pricing, and Taxes
Fees (including creation, transaction, withdrawal, and custody fees) are displayed on the Platform or at the point of use and may change from time to time. Payments for creating native tokens may be processed via Razorpay. You are solely responsible for all taxes arising from your use of the Platform and any token transactions.
8. Custody, Wallets, and Keys
Custody of certain tokens may be provided via authorized custodians. Where you use self-custody, you are solely responsible for safeguarding your private keys and recovery information. Loss of keys may result in permanent loss of assets. Wallet address to KYC identity mappings, where applicable, are stored off-chain under encrypted protection and accessed only by authorized compliance personnel.
9. Blockchain-Specific Risks
Blockchains are subject to congestion, bugs, forks, network attacks, and protocol changes. Transactions may be irreversible and subject to variable network fees. AsvaTok does not control underlying networks and is not responsible for losses attributable to network events.
10. Prohibited Activities
You agree not to engage in unlawful, fraudulent, or abusive conduct, including but not limited to: violating KYC/AML laws, market manipulation, data scraping where prohibited, circumvention of security controls, infringement of IP rights, or any activity that harms the Platform or other users.
11. RWA, Personality Rights, and User Obligations
Users who create or tokenize RWA assets are responsible for identifying and honoring all applicable personality rights, intellectual property rights, or other legal rights. Subsequent RWA owners must abide by such rights and any conditions attached to the asset. You must keep any personal information of other users strictly confidential and use it only as permitted on the Platform.
12. Data and Privacy
Your personal data is processed in accordance with our Privacy Policy, including compliance with the Digital Personal Data Protection Act, 2023 (DPDPA), the IT (RSPD) Rules, 2011, RBI directions, and CERT-In guidelines. By using the Platform, you consent to such processing, data localization within India for financial and KYC data, and use of cookies/analytics as described in the Privacy Policy.
13. Intellectual Property
The Platform, its content, trademarks, and technology are owned by AsvaTok or its licensors and are protected by law. Subject to these Terms, AsvaTok grants you a limited, non-exclusive, non-transferable, revocable license to access and use the Platform for its intended purposes. You must not copy, modify, reverse engineer, or create derivative works except as expressly permitted.
14. Third-Party Services
Third-party providers (including custodians, authentication and verification providers, payment gateways like Razorpay, and analytics services) may be used to deliver aspects of the Platform. Your use of third-party services may be subject to their terms and policies.
15. Disclaimers
THE PLATFORM AND ALL SERVICES ARE PROVIDED ON AN “AS IS” AND “AS AVAILABLE” BASIS WITHOUT WARRANTIES OF ANY KIND, WHETHER EXPRESS OR IMPLIED. ASVATOK DOES NOT WARRANT THAT THE SERVICES WILL BE ERROR-FREE, UNINTERRUPTED, SECURE, OR FREE OF HARMFUL COMPONENTS.
16. Limitation of Liability
TO THE MAXIMUM EXTENT PERMITTED BY LAW, ASVATOK SHALL NOT BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, EXEMPLARY, OR PUNITIVE DAMAGES, OR ANY LOSS OF PROFITS, DATA, OR GOODWILL, ARISING FROM OR RELATED TO YOUR USE OF THE PLATFORM, EVEN IF ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.
17. Indemnification
You agree to indemnify, defend, and hold harmless AsvaTok, its affiliates, and their officers, directors, employees, and agents from and against any claims, losses, liabilities, damages, and expenses (including reasonable attorneys’ fees) arising out of or related to your breach of these Terms, violation of law, or misuse of the Platform.
18. Suspension and Termination
AsvaTok may suspend or terminate access to the Platform at any time for suspected violations of these Terms, legal requirements, or security concerns. Upon termination, you remain responsible for outstanding obligations. Data retention and deletion will follow our Privacy Policy and applicable law.
19. Changes to the Platform and Terms
We may modify the Platform or these Terms from time to time to reflect legal, operational, or regulatory changes. Material changes will be communicated via email or Platform notifications. Your continued use after changes become effective constitutes acceptance.
20. Governing Law and Jurisdiction
These Terms are governed by the laws of India. Subject to applicable law, the courts having jurisdiction over Mumbai, Maharashtra, India shall have exclusive jurisdiction over disputes arising from these Terms.
21. Notices and Communications
We may provide notices via email, SMS, or in-Platform communications sent to your registered details. You agree to keep your contact information current and to receive communications electronically.
22. General Provisions
- Severability: If any provision is unenforceable, the remainder remains in effect.
- Waiver: Failure to enforce a provision is not a waiver.
- Assignment: You may not assign these Terms without our prior written consent.
- Entire Agreement: These Terms, together with the Privacy Policy, are the entire agreement between you and AsvaTok regarding the Platform.