Argent App – Terms of Service

Last updated 16 September 2022

Table of contents

1. Welcome

  1. Argent Labs Limited ("Argent", "we", "our", or "us") develops self-custody smart contract wallets which allow users to carry out and manage cryptoasset transactions on compatible blockchains and similar networks (the "Argent Wallet(s)”).
  2. Argent makes available two different Argent Wallets: (i) through the Argent application available for download on your mobile device (“Argent App”); and (ii) through the Argent browser extension (“Browser Extension”). Each Argent Wallet holds separate cryptoassets. The Argent Wallets accessed via the Argent App and Browser Extension are not interchangeable, which means that cryptoassets held via Argent App cannot be accessed from the Browser Extension and visa versa.
  3. These Terms of Service apply to the use of the Argent App and the Argent Wallet accessed through the Argent App.

2. Your relationship with us

  1. This document and any documents referred to within it (collectively, the "Terms of Service") set out the terms of your relationship with us. It is important that you read and understand the Terms of Service before using the Argent App.
  2. By using and accessing the Argent App, you agree to these Terms of Service. If you do not agree to these Terms of Service, please do not use the Argent App.
  3. The Argent App is for non-commercial use only; you may use the Argent App only for your own personal use.

3. Information about us

  1. Argent is a company registered in England with its registered address at 5 New Street Square, London, England, EC4A 3TW.
  2. If you would like to contact us, please write to us using the details at the end of these Terms of Service.

4. Information about you

  1. Your privacy is important to us. Please read our Privacy Policy to understand how we collect, use and share information about you.

5. Important warnings about the Argent Wallet

a. Cryptoasset transactions

  1. The Argent App allows you to initiate and manage cryptoasset transactions on blockchains and similar networks compatible with the applicable Argent Wallet ("Compatible Networks"). Dealing or trading in cryptoassets is inherently risky, as the prices of cryptoassets can change rapidly. We cannot guarantee that the value of any cryptoassets that you purchase will not fall. You therefore buy or sell any cryptoassets through the Argent App at your own risk.
  2. Completion of transactions that you initiate through the Argent App also depends on the availability and operation of the relevant Compatible Network  you interact with using the Argent App. Issues with the Compatible Network may cause transactions that you initiate through the Argent App to fail. This may mean that the transaction you were originally intending to perform will no longer be available. Due to the decentralised nature of these Compatible  Networks, Argent is not responsible to you for errors or any losses that you suffer as a result of such issues or failed transactions.

b. Regulatory

  1. The Argent App does not facilitate the storage or sending of fiat currencies and Argent is not authorised to conduct regulated activities by the Financial Conduct Authority in the UK or any other regulator anywhere in the world. The cryptoassets that you manage through the Argent App  are not covered or underwritten by any regulatory guarantees or compensation schemes, such as the Financial Services Compensation Scheme in the UK.

c. Network fees

  1. In order to execute transactions on certain Compatible Networks, you will need to pay Network Fees which are set by the operators of the relevant Compatible Network and can fluctuate depending on the level of congestion on that Compatible Network (“Network Fees”). Transactions might fail if the Network Fee for that transaction is set too low, and you might still be liable for a proportion of the Network Fee even if your transaction fails.
  2. We will recommend Network Fees for your transaction based on current network demand. You acknowledge that there may be unexpected spikes in the usage of that network which can cause the Network Fees to increase suddenly above the price that we recommend for your transaction. We will not be responsible to you for any losses that you suffer as a result of any transaction through the Argent App  failing as a result of the Network Fees being set too low.
  3. If you are using the Argent Wallet to access and manage transactions on Ethereum, and would like to set the Network Fees for a transaction manually, you can do so by downloading the transaction data using the Emergency Kit functionality of the Argent Wallet, and using that transaction data to carry out the transaction through another crypto wallet. You will also, however, then need to pay the relevant Network Fees for the transaction yourself. For more information about how to use the Emergency Kit, please visit the Emergency Kit support page.

d. Early access features

  1. You agree that a key characteristic of the Argent App is that changes to the Argent Wallet will take place over time and this is an important basis on which we grant you access to the Argent App. Once we have made changes to the Argent Wallet, your continued use of the Argent App will show that you have accepted any changes to the Argent Wallet. You are always free to stop using the Argent Wallet and / or the Argent App.
  2. Changes to the Argent Wallet may affect your past activities on the Argent Wallet and certain features that you may use ("Service Elements"). Any changes to the Argent Wallet could involve your Service Elements being deleted or reset; however this will not affect your rights to the cryptoassets you manage through your Argent Wallet.
  3. Blockchain technology moves quickly, and we try to keep the functionalities of the Argent Appup to date to keep up with new developments. We may, from time to time, offer access to new Compatible Networks and features of the Argent Appthat are still in an "early access" or trial phase of their development.
  4. While we do our best to make sure that any features that we make available are of a reasonable standard, the new and relatively untested nature of these early access networks and features means that you are more likely to experience problems and unavailability than other parts of the Argent App. As a result, we cannot guarantee that these early access features and networks will always be available and free from errors/ defects or operate without issues.
  5. Declining changes or updates to the Argent App may expose the Argent Wallet on your mobile device to increased security risk. You will also not be able to access new or upgraded functionalities that we may offer through the Argent App. Argent shall not be liable to you for any losses you may suffer as a result of failing to complete any updates to the Argent App.

e. Third party apps and exchanges

  1. The Argent Wallet allows you to access and use certain distributed applications ("Dapps") and cryptoasset platforms ("Crypto Platforms") that are integrated or compatible with the Argent App. These Dapps and Crypto Platforms are provided by third parties which are not related to Argent. Although we facilitate your access to these Dapps and Crypto Platforms, we are not responsible for them in any way. Your use of the Dapps and Crypto Platforms will not be governed by these Terms of Service or be part of your relationship with Argent. You should make sure that you check the Dapp or Crypto Platform provider's website for the most up to date version of their terms and conditions before you access their services using the Argent App.
  2. Not all Crypto Platforms and Dapps support all types of cryptoassets. You should make sure, before you initiate any transactions through the Argent App, that the cryptoassets you are sending are compatible with the recipient's wallet. You will not be able to recover any cryptoassets that you have sent, and we will not be responsible to you for any losses you suffer as a result of any cryptoassets that you send being incompatible with the recipient's wallet.
  3. Not all Compatible Networks will support the same Crypto Platforms and Dapps. You should check which networks are compatible with the Crypto Platforms and Dapps that you wish to use before you access or use them through the Argent App. Using Crypto Platforms and Dapps on a different network to the Compatible Network you select when setting up your Argent Wallet could cause the transactions to fail, and you may also not be able to recover any cryptoassets that you send to those Crypto Platforms or Dapps in connection with those transactions. We will not be responsible to you for any losses you suffer as a result of any use of Crypto Platforms or Dapps on a different network to the Compatible Network on which you set up your Argent Wallet.

f. Security

  1. The cryptoassets and Argent Wallet you manage through the Argent App     may be at risk if the security of your mobile device on which you install and set up the Argent App is compromised. You should therefore ensure that you keep your mobile device safe and secure in accordance with best practices recommended by the provider of your operating system, such as setting up a "strong" PIN and/or password to prevent unauthorised access and ensuring that you keep your software up to date.
  2. You are responsible for ensuring that your mobile device is secure. Do not use the Argent App on a device that has been "jailbroken", "cracked", "rooted" or otherwise had restrictions in the software removed, as this may compromise the security of your Argent Wallet and your cryptoassets.

6. Accessing the Argent Wallet

  1. You must download and set up the Argent App on your mobile device with a username and a numerical passcode in order to use the Argent Wallet. You are responsible for maintaining the confidentiality of your passcode and any activities on the Argent Wallet initiated through your mobile device.
  2. Depending on the type of device you use, you may also be able to configure the Argent App to allow you to use your fingerprint and/or face ID to access the Argent Wallet.
  3. You must be 18 years or older and capable in your country of residence of entering into a legally binding agreement to use the Argent Wallet.

7. Setting up your Argent Wallet

  1. You will need to select which Compatible Network(s) you wish to access through the Argent Wallet using the appropriate functionalities when you set up your Argent Wallet through the Argent App. We will indicate to you, through the Argent App, which networks are Compatible Networks that you can access through the Argent App.
  2. You can set up your Argent Wallet to access more than one Compatible Network. Your cryptoassets will, however, be stored and managed separately through individual crypto wallets on each Compatible Network, and the cryptoassets that you manage on one Compatible Networkwill not be available to you on a different Compatible Networkthat you access through a different wallet on the Argent App.
  3. You can, in respect of certain Compatible Networks identified to you on the Argent Wallet, move cryptoassets stored on one Compatible Network to another Compatible Network using the appropriate functionalities of the Argent App. Please note, however, that moving your cryptoassets in this way will incur Network Fees in the same way as any other transaction on that network.

8. Important information about Argent Wallet recovery

  1. For security reasons, if you initiate the process to recover access to your cryptoassets, such as when you change or lose the mobile device on which you have downloaded and installed the Argent App, you will not be able to access your cryptoassets through the Argent App for 48 hours after you initiated the recovery process. We will not be responsible to you for any losses you might suffer as a result of being unable to access your cryptoassets during that period.
  2. If you change or lose the mobile device on which you have downloaded and installed the Argent App, you can regain access to your Argent Wallet(s) on a new device using either a randomly generated unique recovery key ("off-chain recovery") or, for Argent Wallets used to manage cryptoassets on Ethereum, using one or more devices, persons or third-party services nominated by you for this purpose ("guardians").

c. Off-chain recovery

  1. In order to use off-chain recovery, you will need to download and store an encrypted private key generated by the Argent Wallet in your iCloud or Google Drive on the mobile device on which you originally downloaded and set up the Argent App. If you set up the Argent App after 1 November 2021 this will happen automatically; if you set up the Argent App before that date, you will need to do so manually by enabling "Recovery with iCloud / Google Drive" using the applicable functionality on the Argent App.
  2. When you access the Argent Wallet through another mobile device, you will then be asked to go through an authentication process using your email address or phone number and be given the option of recovering your wallet using the encrypted private key stored in your iCloud or Google Drive. You will need to be connected to the internet when you do so in order to access your iCloud or Google Drive and so that we can provide you with a decryption key paired with your encrypted private key.
  3. You should ensure that you retain your encrypted private key securely, and that you keep your iCloud or Google Drive and your mobile device secure. Unauthorised access to your iCloud or Google Drive and your encrypted private key will compromise the security of your Argent Wallet, and if you lose your encrypted private key you will not be able to recover your Argent Wallet using off-chain recovery. This may mean that you will need to recover your Argent Wallet using Ethereum, which will incur Network Fees. We will not be responsible to you for any losses you suffer (including any Network Fees you incur) as a result of you losing access to your encrypted private key.

d. Using guardians

  1. When you first download and set up the Argent App to access and manage transactions on Ethereum, you will be asked to nominate one or more guardians that will have the ability to lock or unlock your access to the cryptoassets that you manage on Ethereum through the Argent Wallet, recover access to those cryptoassets, and approve certain transactions that you initiate through the Argent App.
  2. Guardians are an important part of ensuring the security of your cryptoassets that you manage through the Argent App, and are essential for recovering access to those cryptoassets if you have not set up or are otherwise unable to use off-chain recovery. You should therefore ensure that any guardians you appoint are individuals, devices or service providers that you trust and that you are able to contact if you need to lock, unlock or recover the cryptoassets you manage through the Argent App or approve certain transactions. You should ensure that you always have at least one guardian appointed on the Ethereum Argent Wallet. We also offer an automated service that can act as your guardian.
  3. We will not be responsible to you for any losses that you might suffer as a result of your use of the Argent App, including any failure or delay related to the locking or unlocking of your access to your cryptoassets or approval of any transaction through the Argent App.

e. Using Argent as your guardian

  1. If you use the Argent App to manage cryptoassets on Ethereum, our automated guardian functionality allows you to lock, unlock and recover access to those cryptoassets through two factor authentication. If you use this functionality, you must ensure that you keep your email account and mobile device secure, as unauthorised access to your email account and the credentials you use to access and initiate transactions through the Argent App will compromise the security of the automated guardian functionality.
  2. For security purposes, where Argent is appointed as your only guardian, you will not be able to unlock your access to the Argent Wallet that you locked using our automated guardian functionality for 5 days. We will not be responsible to you for any losses that you might suffer if you lock your access to the Argent Wallet accidentally and are unable to access your cryptoassets through the Argent Wallet during this security period.

9. Your right to use the Argent Wallet

  1. The materials and content comprising the Argent App and the Argent Wallet belong to us or our third party licensors, and we give you permission to use these materials and content for the sole purpose of using the Argent App and the Argent Wallet in accordance with these Terms of Service.
  2. Your right to use the Argent App and the Argent Wallet is personal to you and you are not allowed to give this right to another person.
  3. We allow you to download the Argent App for use on your mobile device in order to access and use the Argent Wallet in accordance with these Terms of Service and we grant you a non-exclusive, personal, non-transferable licence for this purpose only.
  4. Unless allowed by these Terms of Service and as permitted by the functionality of the Argent App, you agree not to: i. copy any portion of the Argent Wallet; ii. give or sell or otherwise make available any portion of the Argent Wallet to anybody else; iii. change any portion of the Argent Wallet in any way; iv. look for or access the code of any portion of the Argent Wallet that we have not expressly published publicly for general use.
  5. You agree that all confidential information, copyright and other intellectual property rights in the Argent App and Argent Wallet belong to us or the people who have licenced those rights to us.
  6. You agree that you have no rights in or to any portion of the Argent App  or the Argent Wallet other than the right to use it in accordance with these Terms of Service.

10. Fees

  1. If you initiate a transaction on certain Compatible Networks through the Argent Wallet to be fulfilled through a third party Crypto Platforms, we may charge you a fee (the "Argent Fee").
  2. We will indicate to you if an Argent Fee, and the amount of that fee, is payable in respect of the transaction before you confirm that transaction through the Argent Wallet.
  3. We will ask you to pay the Argent Fee at the same time as you initiate the relevant transaction. If you decline to pay the Argent Fee, or if you have insufficient cryptoassets to pay the Argent Fee and the value of the transaction, we will decline to process the transaction through the Argent Wallet.

11. App store provisions

  1. You acknowledge that these Terms of Service set out the terms of the agreement between you and us only, and do not apply to your relationship with Apple, Inc, Google Ireland Limited or any other provider of an app store or distribution platform from which you download the Argent App (the "Store Provider").
  2. We, not the Store Provider, will be solely responsible for performance of the Argent App, any content that we make available through the Argent App and any support or maintenance in respect of the Argent App. The Store Provider will have no obligation to provide any maintenance or support services with respect to the Argent App.
  3. We, not the Store Provider, will be solely responsible in the event that the Argent App does not comply with any promises (including any promises made in respect of its functionality, suitability or fitness for purpose). To the maximum extent permitted by law, the Store Provider will not be responsible to you for any claims in relation to the Argent App.
  4. In the event of any claim that the Argent App infringes another person's intellectual property rights, we, not the Store Provider, will be solely responsible for investigating, defending, settling or otherwise dealing with any such intellectual property infringement claim.
  5. You acknowledge that: you are not located in a country that is subject to a U.S. Government embargo, or that has been designated by the U.S. Government as a "terrorist supporting" country; and you are not listed on any U.S. Government list of prohibited or restricted parties.
  6. The Store Provider (and members of its corporate group) are third party beneficiaries under these Terms of Service and have the right to enforce these Terms of Service against you.

12. Rules of Acceptable Use

  1. In addition to the other requirements within these Terms of Service, this section describes specific rules that apply to your use of the Argent App (the "Rules of Acceptable Use").
  2. When using the Argent App you must not: circumvent, disable or otherwise interfere with any security related features of the Argent App; permit another person to use the Argent Appon your behalf unless such person is authorised by you; use the Argent App if we have suspended or banned you from using it; or advocate, promote or engage in any illegal or unlawful conduct, including any criminal activity, fraud or money laundering, breach of sanction, or conduct that causes damage or injury to any person or property.
  3. We may monitor the activity on the Argent App to ensure that you comply with the Rules of Acceptable Use, including to ensure that the cryptoassets you manage are not, or are not purchased with, funds obtained illegally.
  4. Failure to comply with Rules of Acceptable Use constitutes a serious breach of these Terms of Service, and may result in our taking all or any of the following actions (with or without notice): immediate, temporary or permanent withdrawal of your right to use the Argent App; issuing of a warning to you; legal action against you including proceedings for reimbursement of all costs (including, but not limited to, reasonable administrative and legal costs) resulting from the breach; disclosure of such information to law enforcement authorities as we reasonably feel is necessary.
  5. The responses described in paragraph 12(d) are not limited, and we may take any other action we reasonably deem appropriate.

13. Ending our relationship

  1. If at any time you do not feel that you can agree to these Terms of Service or any changes made to these Terms of Service, you must immediately stop using the Argent App.
  2. You may cease using the Argent App at any time by removing it from the mobile device to which you downloaded it.
  3. We may also withdraw the Argent App as long as we give you reasonable notice that we plan to do this.
  4. If you or we end your use of the Argent App or we withdraw the Argent App as described in this section, you will lose any rights you have to use the Argent App. This will not affect your rights in respect of the cryptoassets that you manage through the Argent Wallet; however, the functionality of the Argent App that facilitates the processing of the transactions you initiate in respect of those cryptoassets from the Argent App will cease to function. You will still be able to access your cryptoassets by setting up transactions through the Argent App, downloading the transaction data and using that transaction data to process the transaction through a different crypto wallet service provider using the "Emergency Kit".
  5. The termination of your use of the Argent Wallet shall not affect any of your obligations to pay any sums due to us.
  6. Nothing in this section 13 affects any legal rights you may have under the law of the country in which you are resident.

14. Our liability/responsibility to you

  1. We do our best to ensure that the features and functionalities of the Argent App are of a reasonably satisfactory standard and match any descriptions we have provided to you. However, as we do not own or produce the third party applications, services or networks that you may access through the Argent Wallet, we cannot be responsible for them in any way or promise that the Argent Wallet will always be compatible with such third party services.
  2. We will do our best to ensure that any elements of the Argent App that require a connection to the Internet and Compatible Networks will always be available to you. However, due to the nature of the Internet, the Compatible Networks and technology in general, any such features of the Argent App may be unavailable if we need to undertake any emergency or scheduled maintenance on our systems. This means that we are unable to promise that your use of those features of the Argent App will always be uninterrupted, without delays, error-free or meet your expectations. To the extent we are able to do so, we exclude any commitments that may be implied by law.
  3. We will not be responsible to you for any losses that you might suffer as a result of your use of the Argent App or the Argent Wallet, including any failure or delay related to the locking or unlocking or recovery of your access to your cryptoassets or approval of any transaction.
  4. In the event of claims arising out of the provision of the Argent App or the Argent Wallet, our responsibility to you will never be more than the amount you have paid us in Argent Fees in respect of the transaction which caused the loss. In the event that you have not paid us any Argent Fees in respect of that transaction, we shall have no responsibility whatsoever to you.
  5. The above does not affect your rights under the applicable law of the country in which you are resident, including our responsibility to you for any personal injury or death caused by our negligence, or our fraud.

15. Changes to these terms

  1. We may revise these Terms of Service from time to time but the most current version will always be at https://www.argent.xyz/legal/argent-app-terms-of-service
  2. Changes will usually occur because of new features being added to the Argent App or the Argent Wallet, changes in the law or where we need to clarify our position on something which affects these Terms of Service.
  3. Normally, we will try to give you some warning before the new terms become effective. However, sometimes changes will need to be made immediately and if this happens we will not give you any notice.

16. Documents that apply to our relationship with you

  1. The current version of the Terms of Service contains the only terms and conditions that apply to our relationship with you.
  2. We intend to rely on these Terms of Service as setting out the written terms of our agreement with you for the provision of the Argent Wallet and the Argent App. If part of the Terms of Service cannot be enforced then the remainder of the Terms of Service will still apply to our relationship.
  3. If you do not comply with these Terms of Service and we do not take action immediately, this does not mean we have given up any right we have and we may still take action in the future.

17. Law

  1. English law will apply to all disputes and the interpretation of these Terms of Service. The courts of England and Wales will have non-exclusive jurisdiction over any dispute arising from or related to your use of the Argent Wallet or the Argent App.
  2. This does not affect your rights under the law of the country in which you are resident, including (where applicable) your right to have a dispute in relation to your use of the Argent Wallet or the Argent App heard in the courts of that country. If you are resident in Scotland and Northern Ireland, this also means you can bring a claim in the Scottish or Northern Irish courts.

18. Contact, feedback and complaints

  1. If you need to contact us in relation to these Terms of Service or any other document mentioned in them, please email us at legal@argent.xyz.
  2. We value hearing from our users, and are always interested in learning about ways we can improve the Argent App or the Argent Wallet. By providing your feedback you agree that you are giving up any rights you have in your feedback so that we may use and allow others to use it without any restriction and without any payment to you.
  3. If you choose to contact us, we will treat any personal data you provide to us in accordance with our Privacy Policy.