Draft template — pending legal review. This document is a working draft for engineering/design purposes and is not yet a binding agreement. It must be reviewed and finalized by qualified counsel before launch.

Terms of Service

Last updated July 22, 2026

These terms govern your use of Apsis, a non-custodial commitment-savings service. By creating an account or locking funds, you agree to them. Please read the risk disclosures carefully — locking funds involves market and smart-contract risk, and there is no early withdrawal.

1. What Apsis is

Apsis lets you lock money into a time-locked vault that is yours alone. Dollars you deposit are converted to USDC and held in a smart contract on Base (an Ethereum layer-2 network) until a date you choose. On that date, the balance is converted back to dollars and returned to your verified bank account, together with any interest earned. Before any money moves, a short cooling-off window lets you cancel at no cost.

2. Non-custodial by design

Apsis does not take custody of your funds and holds no key that can move them out of your vault before its unlock date. Once a lock is active, no one — including Apsis — can open it early. This is enforced by the smart contract itself, not by policy. You are responsible for the security of your login credentials; losing access to all of your login methods may make your vault unrecoverable.

3. Eligibility & identity verification

You must be at least 18 years old and legally able to enter into this agreement. Apsis is not available in all jurisdictions. To move money between your bank and the blockchain, our banking partner performs identity verification (KYC) as required by law. Apsis does not collect or store your identity documents; that verification is handled directly by the partner.

4. Deposits, locks & returns

You choose an amount and a term. Funds are pulled from your linked bank account (via ACH, debit, or FedNow).
A cooling-off window applies before any external transfer. Cancelling within it is free and instant.
Once locked, funds cannot be withdrawn until the unlock date. You may extend a lock, but never shorten it.
At maturity, funds are returned only to the bank account you verified — never to any other destination.

5. Fees

Any fee is charged only on interest earned, never on your principal, and the rate is a public constant. Standard bank-transfer methods are free when allowed to clear normally; expedited methods may carry a third-party cost, disclosed before you confirm.

6. Risk disclosures

Funds held as USDC are not bank deposits and are not insured by the FDIC or any government agency. USDC is a stablecoin issued by a third party; while designed to track the US dollar, its value is not guaranteed. Interest rates shown anywhere on the site are illustrative, are sourced from variable on-chain lending markets, and are not a promise of future returns. Smart contracts, blockchain networks, and third-party providers can fail or be exploited. You could lose some or all of your funds. Only lock money you can afford to leave untouched for the full term.

7. Third-party services

Apsis relies on third parties to operate, including banking and on/off-ramp infrastructure, the stablecoin issuer, wallet-security tooling, and the underlying blockchain. Apsis is not responsible for outages, errors, or losses caused by these providers, and their own terms may also apply to you.

8. Acceptable use

You agree not to use Apsis for unlawful activity, to evade sanctions or anti-money-laundering controls, to interfere with the service, or to attempt to access accounts or vaults that are not yours.

9. No financial, tax, or legal advice

Nothing on Apsis is financial, investment, tax, or legal advice. You are responsible for any tax consequences of your activity. Consider seeking independent advice before locking funds.

10. Disclaimers & limitation of liability

The service is provided “as is” and “as available,” without warranties of any kind. To the fullest extent permitted by law, Apsis will not be liable for indirect, incidental, or consequential damages, or for losses arising from blockchain, smart-contract, or third-party failures.

11. Changes & contact

We may update these terms; material changes will be communicated to account holders. Governing law and dispute-resolution terms will be specified here upon legal review. Questions? Contact hello@apsis.example (placeholder — to be replaced with a real address).