Terms of Service
Last updated: Pending legal review before mainnet launch
1. Eligibility
You must be 18 years or older to use the Services. You must not be located in a jurisdiction where use of payment stablecoins is prohibited. You must complete KYC verification for redemption services. US persons must comply with all applicable US laws and regulations.
2. Description of Services
USDAO is a payment stablecoin. The Services include the protocol website (usdao.io), the USDAO redemption portal (onvault.usdao.io), public documentation, and the REST API. USDAO Protocol is not a bank, broker-dealer, investment advisor, or money services business.
3. No Investment Advice
Nothing on this website or in any USDAO documentation constitutes financial, legal, investment, or tax advice. The RUIT Foundation is not licensed as an investment advisor, financial planner, or legal counsel. Always consult qualified professional advisors before making financial decisions.
4. USDAO Token Terms
USDAO is a payment stablecoin designed for 1:1 USD redemption at par. It is not FDIC-insured, not a bank deposit, and not legal tender. It is subject to smart contract risk, oracle risk, and custodian risk as described in our Risk Disclosures. USDAO does not provide yield, returns, or investment income, and does not pay interest or promotional payouts to holders.
5. Redemption Terms
Redemption is available to KYC-verified holders through the USDAO application. Processing times vary by method (1–3 business days for USD wire; approximately 10 minutes for USDC). The RUIT Foundation reserves the right to delay or suspend redemption if required by applicable law, regulatory order, or security incident. The 1:1 USD backing is maintained at all times.
6. KYC / AML Compliance
Users must complete Know Your Customer (KYC) verification to access redemption services. We comply with all applicable Anti-Money Laundering (AML) and Bank Secrecy Act (BSA) requirements. We will refuse service to individuals on OFAC sanctions lists or prohibited jurisdictions.
7. Intellectual Property
The USDAO name, logo, website content, and marketing materials are owned by the RUIT Foundation. Smart contracts are published under the MIT open-source license. Use of USDAO brand assets requires written permission from the RUIT Foundation.
8. Limitation of Liability
The RUIT Foundation's liability to you is limited to the value of USDAO tokens you hold at the time of any claim. We are not liable for smart contract exploits beyond available insurance coverage, oracle failures, third-party custodian failures, or losses resulting from your own wallet management errors.
9. Governing Law
These Terms are governed by applicable law in the RUIT Foundation's jurisdiction of incorporation (to be confirmed by legal counsel). Disputes will be resolved by binding arbitration. You waive the right to participate in class action lawsuits against the RUIT Foundation.
10. Changes to Terms
We may update these Terms with 30 days notice via website announcement and email to registered users. Continued use of the Services after the effective date constitutes acceptance of updated Terms.