Terms of Service

1. General Conditions

By agreeing to these Terms of Service, to the extent required by applicable law, you represent that you are at least the age of majority in your country, state or province of residence, or that you have given us your consent to allow any of your minor dependents to use our Platforms and/or Services.

You may not use our Platforms and/or Services for any illegal or unauthorized purpose, nor may you, in the use of the Platforms and/or Services, violate any applicable laws (including but not limited to copyright laws).

You must not transmit any worms, viruses, or any code of a destructive nature. You agree not to reproduce, duplicate, copy, sell, resell or exploit any portion of the Platforms and/or Services without express written permission by Omavon LTD.

You understand that your User Content (not including credit card information) may be transferred unencrypted and involve (a) transmissions over various networks; and (b) changes to conform and adapt to technical requirements of connecting networks or devices. Credit card information is always encrypted during transfer over networks.

2. Description of Services and Account Registration

Our Services, as provided via the Dashboard, include the provision of our SDK and/or API to build and develop blockchain applications and perform other activities including monitoring activity on a blockchain address, performing RPC calls to various blockchains, and facilitating cryptocurrency payment processing.

To access our Services, you would need to sign in to the Dashboard by either creating an account with an email and password or via your SSO (Single Sign-On provider). Once you sign in, you will receive an API Key (a unique alphanumeric combination of digits which will enable you to gain access to the Services for use in your applications). More information on the Services can be found in the API Documentation available at docs.omavon.com.

You are responsible for maintaining the confidentiality of your login credentials and your API Key, and you are solely responsible for all activities that occur under those credentials. If you think someone has gained access to your account, please immediately contact us at support@omavon.com.

The Services are not intended for distribution or use in any jurisdiction or country where such distribution or use would be contrary to law or regulation or which would subject Omavon LTD to any registration requirement within such jurisdiction or country.

You may terminate your Account at any time by notifying Omavon LTD. We may terminate the Account at any time with immediate effect in the event of a violation of these Terms or any other legitimate reason that makes it impossible to continue to provide the Services to you.

3. Regulatory Status Disclosure

• Omavon LTD is not currently licensed by the Central Bank of Nigeria (CBN), the Securities and Exchange Commission of Nigeria (SEC Nigeria), or any other regulatory authority as a Virtual Asset Service Provider (VASP), payment solution provider, or financial institution.
• Omavon LTD provides purely blockchain-level infrastructure services. Our Services do not constitute financial services, investment advisory, or payment institution services as defined under Nigerian law.
• Omavon LTD does not hold, custody, or control user funds. Wallet services provided through our platform are managed by independent, licensed third-party wallet infrastructure providers (see Section 4).
• Omavon LTD does not operate a trading platform, issue tokens, or provide custodial exchange services.

By using our Services, you acknowledge that you have read and understood this disclosure and accept full responsibility for evaluating the suitability and legality of using our Services in your jurisdiction.

4. Custodial Status of Wallet Services

Omavon LTD operates as a NON-CUSTODIAL service platform with respect to wallet infrastructure. All wallet services, key management, and digital asset custody are managed exclusively by licensed independent third-party wallet infrastructure providers.

By using our wallet-related services, you acknowledge and agree that:

• Omavon LTD does not hold, manage, control, or have access to your private keys or digital assets at any time.
• Custody of your digital assets is the sole responsibility of the designated third-party wallet provider integrated within our platform.
• Omavon LTD shall not be held liable for any loss, theft, inaccessibility, or mismanagement of digital assets arising from the actions, failures, or insolvency of any third-party wallet provider.
• Users are strongly advised to review the terms of service and security disclosures of the applicable third-party wallet provider before using wallet-related features.
• In the event that a third-party wallet provider becomes unavailable, insolvent, or otherwise fails to perform, Omavon LTD shall not be responsible for any resulting loss of access to or recovery of your digital assets.

5. AML/KYC Framework and Compliance

5.1 General Approach

Omavon LTD is committed to preventing money laundering, terrorist financing, and other financial crimes. Our compliance framework is calibrated to the nature of purely blockchain-based transactions and is applied progressively based on risk level.

5.2 Blockchain-Only Transactions

For purely on-chain (blockchain-to-blockchain) transactions, Omavon LTD does not impose mandatory Know Your Customer (KYC) or Know Your Business (KYB) requirements as a precondition to using the Services. This reflects the decentralized and permissionless nature of public blockchain infrastructure.

5.3 Fiat Conversion — Mandatory KYC/KYB

KYC/KYB verification is mandatory where a Merchant or User wishes to convert cryptocurrency assets into fiat currency (e.g., Nigerian Naira, US Dollar, or any other sovereign currency). In such cases, the KYC/KYB process will be conducted by a licensed financial intermediary or payment partner designated by Omavon LTD.

5.4 Risk-Based KYC/KYB

Omavon LTD reserves the right to require KYC/KYB verification in the following additional circumstances:

• Where a blockchain transaction is flagged by our automated monitoring systems or compliance partners as high risk, suspicious, or potentially linked to money laundering, terrorist financing, fraud, or sanctions violations.
• Where a transaction volume, frequency, or pattern triggers risk thresholds defined under Omavon LTD's internal compliance policies.
• Where required by applicable law, regulatory directive, or a request from a competent authority.

Failure to complete KYC/KYB verification when requested by Omavon LTD may result in suspension or termination of the relevant transaction or account.

5.5 Transaction Monitoring

Omavon LTD employs automated on-chain transaction monitoring tools to detect suspicious activity. Transactions flagged as high risk may be paused, investigated, and reported to relevant authorities in accordance with applicable international AML standards.

5.6 Prohibited Activities

The Services must not be used for:

• Money laundering or terrorist financing
• Transactions involving sanctioned individuals, entities, or jurisdictions
• Fraud, cybercrime, or unauthorized access to financial systems
• Any activity prohibited under Nigerian law or applicable international law

6. Repeated Deposits

Repeated deposits are additional payments sent to the same deposit address after the original payment has been received. These deposits are processed at the current exchange rate at the time they are received and are marked with either the "Partially Paid" or "Finished" status depending on the Merchant's account settings.

Generated deposit addresses are designed for a single use. Merchants acknowledge that such addresses are intended for one-time deposits only, and that any repeated deposits sent to such addresses are processed as repeated deposits linked to the original transaction. Any attempts to use such addresses for subsequent transactions are at the Merchant's own risk.

Omavon LTD is indemnified from any liability for the misdirection or loss of funds of repeated deposits. Merchants acknowledge that they fully understand the mechanics of deposit handling and the implications for repeated deposits.

Merchants are strongly advised to verify their withdrawal wallet address before making any deposits, whether original or repeated, to avoid any potential loss of funds.

In cases where the Merchant has enabled the Custody feature, all repeated deposits will always be credited to the Merchant's balance (as applicable) in the same Virtual Asset in which the original deposit has been made.

7. Refunds

7.1 Refund Process

All refund requests are subject to review and approval by the Omavon LTD support team. Omavon LTD reserves the right to reject any refund request that does not comply with our policies or raises security concerns.

For security purposes, refunds to addresses not originally involved in the transaction will require additional validation. This may include, but is not limited to, small amount verification transfers or video verification.

7.2 Merchant Responsibilities

The Merchant is responsible for ensuring the accuracy of all refund requests, including the refund amount and destination address.

Any crediting of funds to the user by the Merchant without explicit confirmation from Omavon LTD that the refund is possible and has been processed shall be solely at the Merchant's own risk and responsibility.

Omavon LTD shall not be liable for any losses incurred by the Merchant due to unauthorized access to their account. Merchants are strongly advised to maintain strong, unique passwords and enable all available security features.

7.3 Refund Limitations

Omavon LTD reserves the right to limit, delay, or refuse refunds in cases where we suspect fraudulent activity, violations of our Terms, or to comply with legal or regulatory requirements. Refunds may be subject to additional fees and/or requirements, which will be clearly communicated before the refund is finalized.

7.4 Virtual Assets Extraction

The Virtual Assets extraction process can take up to twenty (20) business days. If the Merchant wishes to expedite this process, additional charges may apply. Unsupported Virtual Assets deposited into our system cannot be extracted or returned. Omavon LTD reserves the right to handle these on a case-by-case basis.

8. Limitation of Liability and Warranty Disclaimer

8.1 Disclaimer of Warranties

8.2 Limitation of Liability

Without limiting the foregoing, Omavon LTD specifically excludes all liability for:

• Loss of digital assets or funds resulting from a user's failure to maintain the security of their account credentials, passwords, private keys, or API keys.
• Loss of digital asset value or purchasing power due to the inherent market volatility of cryptocurrency and other virtual assets.
• Losses arising from the actions, failures, insolvency, or unavailability of third-party wallet providers, blockchain networks, or other external services.
• Losses resulting from errors, bugs, or vulnerabilities in third-party smart contracts, blockchain protocols, or decentralized applications.
• Losses caused by regulatory actions, government restrictions, or changes in applicable law that affect access to or the value of digital assets.

8.3 Cap on Liability

In no event shall Omavon LTD's total aggregate liability to any Merchant or User, for all claims arising under or in connection with these Terms, exceed the total fees paid by such Merchant or User to Omavon LTD in the three (3) months immediately preceding the event giving rise to the claim.

8.4 Acknowledgement of Risk

By using the Services, you expressly acknowledge that: (i) cryptocurrency and virtual assets are inherently volatile and risky; (ii) you are solely responsible for safeguarding your account credentials and private keys; (iii) blockchain transactions are irreversible once confirmed; and (iv) Omavon LTD does not insure or guarantee the value of any digital asset.

9. License to the Platforms and Services

Subject to your compliance with these Terms, Omavon LTD hereby grants you a personal, non-exclusive, non-commercial, revocable, non-sublicensable and non-transferable license to access and use the Platforms and/or Services in accordance with these Terms.

You agree not to:

• Use the Platforms and/or Services for any illegal purpose
• Reverse engineer, copy, or create derivative works of Omavon LTD content
• Use the Platforms for commercial purposes without written consent
• Use bots, crawlers, or automated tools to access or scrape the Platforms
• Upload malicious code or compromise the security of the Platforms
• Probe or test the vulnerability of our Platforms or any connected system
• Access the API Materials to build a similar or competitive product
• Share, transfer, or sublicense your API Key or subscription to any third party

10. Indemnification

You agree to indemnify and hold Omavon LTD, its parents, subsidiaries, affiliates, and respective employees, directors, officers, and agents harmless from any liabilities, claims, expenses or demands, including reasonable legal fees, arising directly or indirectly out of:

• Your misuse of the Platforms and/or Services
• Your violation of applicable laws, rules, and regulations
• Your breach of these Terms
• Your User Content
• Your infringement of any intellectual property or other rights of any third party
• Any other matter for which you are responsible under law

11. Risk Disclosure Notice

This Risk Disclosure Notice forms an integral part of and shall be read together with these Terms of Service. Omavon LTD does not issue tokens, operate a trading platform or exchange, or provide custodial wallet services.

Omavon LTD enables integrations with independent third-party crypto service providers including exchanges, wallet operators, and token issuers. Each such provider maintains its own terms and risk disclosures which you should carefully review.

Risks associated with crypto-asset use include but are not limited to:

• Market Volatility: The value of crypto-assets may fluctuate significantly and may result in partial or complete loss of value.
• Technology Risks: Blockchain networks may malfunction, contain vulnerabilities, or be subject to cyberattacks.
• Regulatory Risks: Applicable laws governing crypto-assets are evolving and may change at any time.
• Absence of Guarantee Schemes: Crypto-assets are not protected by any deposit guarantee or investor compensation scheme.
• Counterparty Risks: Third-party providers may become unavailable, insolvent, or fail to perform.

12. Personal Information and Data Protection

Your submission of personal information through the Dashboard is governed by our Privacy Policy, available at omavon.com/privacy, and complies with the Nigeria Data Protection Regulation (NDPR) 2019 and the Nigeria Data Protection Act (NDPA) 2023.

By accepting these Terms, you expressly consent to Omavon LTD processing and, where applicable, exporting your personal data in accordance with our Privacy Policy. Omavon LTD takes all necessary organizational and technical measures to protect personal data.

Where KYC/KYB verification is required under Section 5 of these Terms, Omavon LTD and/or its designated intermediaries may collect and process personal data including identification documents, biometric data, and AML screening results for identity verification and compliance purposes.

If you request that your personal data be deleted, we will fulfill the request within two (2) weeks to the extent permitted by applicable law. Some data may be retained for legal, regulatory, or compliance purposes.

13. Taxes

You acknowledge and agree that you are solely responsible for determining and fulfilling any tax obligations associated with your use of our Services, including but not limited to applicable sales taxes, value-added taxes (VAT), capital gains taxes, or other taxes imposed under Nigerian law or any other relevant jurisdiction.

Omavon LTD does not provide tax advice. You are encouraged to consult a qualified tax professional. You agree to indemnify and hold Omavon LTD harmless from any claims, liabilities, penalties, or fines arising from your failure to comply with applicable tax laws.

14. Errors, Inaccuracies and Omissions

Occasionally there may be information on the Platforms and/or Services that contains typographical errors, inaccuracies or omissions. We reserve the right to correct any errors, inaccuracies or omissions and to change or update information at any time without prior notice. Any reliance on the material on our Platforms and/or Services is at your own risk.

15. Intellectual Property Rights

You acknowledge and agree that Omavon LTD owns all legal right, title and interest in and to the Website and any software used for rendering Services. All visual interfaces, graphics, design, systems, computer code, software, and other elements of the Services are protected by Nigerian and international copyright, trademark, and intellectual property laws.

All trademarks and trade names contained in the Services are proprietary to Omavon LTD and may not be used without written permission. You will not remove, alter or obscure any copyright, trademark, or other proprietary rights notices.

Your use of the Services does not grant you ownership of or any rights with respect to any content, code, data, software or other materials you may access through the Services. Omavon LTD reserves all rights not expressly granted herein.

16. Governing Law and Dispute Resolution

16.1 Governing Law

These Terms of Service shall be governed by, interpreted, and enforced in accordance with the laws of the Federal Republic of Nigeria, without regard to its conflict of law principles. Applicable legislation includes but is not limited to the Companies and Allied Matters Act (CAMA) 2020, the Federal Competition and Consumer Protection Act (FCCPA) 2018, and the Nigeria Data Protection Regulation (NDPR) 2019.

16.2 Amicable Resolution

In the event of any dispute, controversy, or claim arising out of or in connection with these Terms, the parties shall first attempt to resolve the matter amicably by giving written notice to the other party. The parties shall have thirty (30) days from the date of such notice to resolve the Dispute through good faith negotiation.

16.3 Arbitration

If the Dispute is not resolved amicably within thirty (30) days, either party may refer the Dispute to binding arbitration administered by the Lagos Court of Arbitration (LCA) under the LCA Arbitration Rules in force at the time of the submission of the dispute.

• Seat of Arbitration: Lagos, Nigeria
• Language of Arbitration: English
• Number of Arbitrators: One (1) sole arbitrator, appointed in accordance with the LCA Arbitration Rules
• The arbitral award shall be final and binding upon both parties and may be enforced in any court of competent jurisdiction

16.4 Jurisdiction for Interim Relief

Nothing in this Section shall prevent either party from seeking urgent interim or injunctive relief from a court of competent jurisdiction in Nigeria to protect its rights pending arbitration.

16.5 Consumer Complaints

Individual users or Merchants who are consumers within the meaning of the Federal Competition and Consumer Protection Act (FCCPA) 2018 may also submit complaints to the Federal Competition and Consumer Protection Commission (FCCPC) in accordance with applicable Nigerian consumer protection law.

17. Miscellaneous

1. You consent to receive communications from Omavon LTD in electronic form, including via the Website, Services, or email.
2. Your rights and obligations hereunder may not be assigned, subcontracted, delegated, or otherwise transferred by you without Omavon LTD's prior written consent. Omavon LTD may assign its rights and obligations under these Terms to third parties without your consent.
3. Omavon LTD has the right to involve third parties for the fulfillment of its obligations.
4. Nothing in these Terms shall be construed as creating a joint venture, an agency relationship, or a legal partnership between Omavon LTD and the Merchant.
5. If any provision of these Terms is invalidated, it does not affect the validity or applicability of the remaining provisions.
6. Any waiver or failure to enforce any provision of the Terms on one occasion will not be deemed a waiver of any other provision or of such provision on any other occasion.
7. Users are strongly encouraged to regularly review these Terms for any updates or changes. Continued use of the Services after any update constitutes acceptance of the updated Terms.
8. These Terms are the final, complete and exclusive agreement between the Merchant and Omavon LTD with respect to the subject matter hereof.