Terms of Service

1. Acceptance of Terms

By accessing or using the KeyBay Capital platform, website, smart contracts, APIs, or any related services (collectively, the "Service"), you agree to be bound by these Terms of Service. If you do not agree, do not use the Service.

2. Eligibility

You must be at least 18 years old and legally permitted in your jurisdiction to use digital asset services. The Service is not available to residents of jurisdictions where use of such services is prohibited or restricted. It is your responsibility to ensure compliance with local laws.

3. Nature of Service

KeyBay Capital provides a smart-contract-managed yield vault infrastructure on Bitcoin L1 via the OP_NET protocol. The Service facilitates deposit, withdrawal, and lending operations through a combination of on-chain smart contracts and operator-managed processes. Certain operations — including deposit custody, withdrawal processing, and OTC settlement — involve platform-controlled addresses and operator intervention. KeyBay Capital is not a bank, broker-dealer, investment advisor, registered custodian, exchange, or money transmitter. Nothing on this platform constitutes financial, investment, tax, or legal advice.

3a. Custody and Asset Control

By using the Service, you acknowledge and accept the following custody and operational characteristics:

• Protocol-controlled custody. Bitcoin deposits are held in platform-controlled segregated addresses, not in wallets controlled solely by your private keys. While smart contracts govern accounting and yield distribution, the underlying Bitcoin is managed by KeyBay's operational infrastructure.
• Withdrawal processing queue. Withdrawal requests are subject to a 30-day processing queue enforced by the WithdrawalQueue smart contract. You should not deposit more than you can afford to have locked for this period. Processing times may vary based on network conditions and queue depth.
• Emergency pause capability. KeyBay operators retain the ability to temporarily pause deposits, withdrawals, lending, and other subsystem operations in response to security incidents, market conditions, or technical issues. Emergency pauses automatically expire within a maximum of 7 days. Active pauses and their expected expiry are visible at the /api/system/status endpoint.
• Operator controls. Platform operators may perform reconciliation, status overrides, parameter adjustments, and other administrative actions necessary for the safe operation of the protocol. Material operational actions are logged for audit purposes.

4. Risks

Use of the Service involves significant risks including but not limited to: smart contract vulnerabilities, protocol exploits, loss of deposited assets, oracle failures, liquidation of collateral, market volatility, regulatory changes, and network disruptions. You may lose some or all of your deposited assets. Past performance is not indicative of future results. See our Risk Disclosures for detailed risk factors.

5. No Guarantees

The Service is provided "as is" and "as available" without warranties of any kind, whether express, implied, or statutory. KeyBay Capital does not guarantee any specific yield, return, or outcome. Target yield ranges are indicative only and are not promises.

6. KBY Token

The KBY token is a utility token that determines client tier access on the KeyBay platform. KBY is not a security, share, bond, or investment contract. Holding KBY does not confer ownership, equity, dividends, or governance rights over KeyBay Capital or its operations. Fee discounts and tiered access are platform features, not investment returns.

7. User Responsibilities

You are solely responsible for: securing your private keys and wallet credentials, verifying transaction details before signing, understanding the risks of interacting with smart contracts, complying with applicable laws in your jurisdiction, and paying any taxes arising from your use of the Service.

8. Limitation of Liability

To the maximum extent permitted by law, KeyBay Capital, its operators, contributors, and affiliates shall not be liable for any indirect, incidental, special, consequential, or punitive damages, or any loss of profits, revenue, data, or digital assets arising from your use of the Service.

9. Modifications

We reserve the right to modify these Terms at any time. Continued use of the Service after modifications constitutes acceptance. Material changes will be communicated through the platform.

10. Governing Law

These Terms shall be governed by and construed in accordance with applicable law. Any disputes shall be resolved through binding arbitration.