Terms of Service

These Terms of Service govern your use of ANDORA, a website and app interface for borrowing and lending against tokenized stocks using smart contracts on Robinhood Chain.

ANDORA is not a bank, broker, exchange, custodian or investment adviser. By using the interface or connecting a wallet, you agree to these terms. If you do not agree, do not use ANDORA.

To use ANDORA, you must:

• Be at least 18 years old, or the age of legal majority where you live.
• Not live in, be a citizen of, or access the service from: United States, Canada, United Kingdom, Switzerland, UAE, or any country or region under comprehensive sanctions.
• Not be listed on, or owned or controlled by anyone listed on, a sanctions list.
• Be allowed to hold and use stock tokens and stablecoins under the laws that apply to you.

Using a VPN or other tools to get around these restrictions is not allowed. You are responsible for following your local laws.

• The service is non-custodial. We never hold your private keys, stock tokens or USDG.
• You approve every transaction in your own wallet. Blockchain transactions cannot be reversed or cancelled by us.
• You are responsible for keeping your wallet, seed phrase and devices secure. We cannot recover lost access.
• You pay network fees (gas) for your transactions.

ANDORA lets you interact with smart contracts to:

• Borrow: deposit a supported stock token as collateral in an isolated market and borrow USDG against it.
• Lend: deposit USDG into a vault that lends it to borrowers across selected markets.
• Track: view your positions, health factor, liquidation price and transaction history.

The service depends on third parties we do not control, including Robinhood Chain, stock token issuers, the USDG issuer, price oracles such as Chainlink, and wallet providers. Their terms also apply.

• Stock tokens are issued by third parties, not by us. We do not guarantee their backing, redemption or availability.
• A stock token gives economic exposure to a share or ETF. It may not give you shareholder rights, such as voting.
• Dividends, stock splits and other corporate actions are handled by the issuer and may pause transfers, prices or markets.
• Stock tokens trade 24/7 onchain, but the underlying shares trade only during US market hours. Prices can move sharply when the market reopens.

• Borrow interest is variable. It changes with how much of a market is borrowed.
• Each market has a maximum loan-to-value (LTV) for new borrowing and a higher liquidation LTV.
• Your health factor compares your collateral value to your debt. If it falls below 1.00, anyone can repay part of your loan and receive part of your collateral at a discount (the liquidation penalty).
• Liquidations can happen quickly and without warning, including when the US market is closed. You are responsible for monitoring your positions.
• Any alerts or warnings in the app are a convenience only. We do not guarantee they are shown or delivered in time.

• Vault yield (APY) is variable and not guaranteed. Past or displayed rates do not predict future returns.
• If a borrower's collateral falls faster than it can be liquidated, the shortfall (bad debt) can reduce the value of a vault, including your deposit.
• Withdrawals depend on available liquidity. If most of a vault's USDG is lent out, you may need to wait.
• Vaults charge a performance fee on the interest they earn, shown on each vault.

Costs include borrow interest, liquidation penalties, vault performance fees and network gas. Current parameters are shown in the app for each market and vault, and may change over time. There are no account or subscription fees.

Using ANDORA involves serious risk. You could lose some or all of the assets you deposit, including through:

• Smart contract bugs, exploits or upgrades.
• Oracle failures, stale prices or price manipulation.
• Sharp price moves or price gaps in the underlying stocks.
• Failure of a stock token issuer, custodian or the USDG issuer, or USDG losing its dollar peg.
• Outages or changes on Robinhood Chain or connected networks.
• Changes in laws or regulations that limit access to stock tokens or the service.

Nothing on ANDORA is investment, financial, legal or tax advice, or a recommendation to buy, sell, borrow or lend any asset. Prices, rates and risk indicators are for information only. Make your own decisions and consider getting independent advice.

You agree not to use ANDORA to:

• Evade sanctions, launder money or finance illegal activity.
• Manipulate prices, oracles or markets, or exploit bugs in the interface or smart contracts.
• Attack, overload, scan or probe our systems without written permission.
• Impersonate other people, companies or the service itself.
• Get around the eligibility restrictions in section 2.

The interface and smart contracts are provided "as is" and "as available", without warranties of any kind, including uptime, accuracy, security or fitness for a particular purpose.

To the maximum extent permitted by law, we are not liable for any loss of assets, profits or data, or for indirect, incidental, special, consequential or punitive damages, arising from your use of ANDORA, liquidations, smart contract or oracle failures, or third-party services.

Where liability cannot be excluded, our total liability is limited to 100 US dollars.

You agree to indemnify and hold harmless ANDORA and its operators from any claims, damages or expenses (including reasonable legal fees) arising from your use of the service, your violation of these terms, or your violation of any law or third-party rights.

We may restrict or end your access to the interface at any time, including to comply with law or sanctions. Smart contracts run independently of this website, so we may not be able to stop or reverse onchain positions.

We may update these terms from time to time and will change the "Last updated" date when we do. Continued use of ANDORA after an update means you accept the new terms.

These terms are governed by the laws of the jurisdiction where the operator of ANDORA is established, without regard to conflict-of-law rules. If any part of these terms is unenforceable, the rest stays in effect.

Questions about these terms? Contact us at @ANDORArwa on X.