Terms of Service
Last updated: Mar 18, 2025
Welcome to Polyester, a decentralized asset-wrapping platform built on Polyester Chain. These Terms of Service ("ToS" or "Agreement") govern your access to and use of Polyester’s services ("Services"). Polyester is developed by Fabric Blockchain Labs, Inc., a Delaware corporation located at 2980 NE 207th St, Suite 336, Aventura, FL 33180 ("Company," "we," "us," or "our"). By accessing or using Polyester, you ("User," "you," or "your") agree to be bound by this Agreement. If you do not agree, you must not use the Services.
1. Overview of Polyester
Polyester enables you to deposit native assets (e.g., BTC, ETH, LTC, ERC-20 tokens) into decentralized, Multi-Party Computation (MPC)-secured vaults controlled by the Polyester protocol. Upon detecting a deposit, Polyester automatically mints equivalent Zipped Assets on Polyester Chain (e.g., zBTC, zETH), which are sent to your non-custodial wallet. Polyester operates as a fully decentralized, non-custodial platform, meaning no human or organization, including the Company, takes custody of your assets at any point. Governance is managed by Polyester Chain validator nodes through a process of progressive decentralization, ensuring community-driven control.
2. User Eligibility
To use Polyester, you must:
- Be at least 18 years old or the age of majority in your jurisdiction, whichever is greater.
- Have the legal capacity to enter into this Agreement.
- Not be prohibited from using the Services under applicable laws or sanctions lists, including the U.S. Office of Foreign Assets Control (OFAC) list.
While Polyester imposes no explicit geographic restrictions, we may block access based on your IP address to comply with legal or operational requirements. Wallet addresses are screened for OFAC compliance using TRM Labs, and access may be denied if your wallet is flagged.
3. Account Setup and Wallet Connection
To use Polyester, you must connect a non-custodial wallet (e.g., MetaMask, Coinbase Wallet) compatible with Polyester Chain. Polyester generates unique deposit addresses for each supported blockchain (e.g., Bitcoin, Ethereum, Solana, Litecoin, Ripple). You are solely responsible for:
- Securing your wallet and private keys.
- Ensuring the accuracy of deposit addresses when transferring assets.
Polyester does not store or control your private keys or assets at any time.
4. Services
Polyester provides the following Services:
- Asset Deposits: You deposit native assets into MPC-secured vaults, which are non-custodial and decentralized.
- Minting Zipped Assets: Upon deposit detection, Polyester mints equivalent Zipped Assets (e.g., zBTC, zETH) on Polyester Chain and sends them to your wallet.
- Decentralized Operation: All transactions occur on-chain, managed by smart contracts and Polyester Chain validators.
5. Risks
Using Polyester involves inherent risks, including but not limited to:
- Smart Contract Vulnerabilities: Bugs or exploits in Polyester’s smart contracts could lead to asset loss.
- Blockchain Risks: Downtime, forks, or failures on Polyester Chain or other blockchains may disrupt access or functionality.
- Bridging and Wrapped Asset Risks: Issues with asset wrapping or cross-chain interactions could affect Zipped Assets’ value or availability.
- Market Risks: Zipped Assets may lack liquidity or experience price volatility, with no guarantee of market stability.
- User Error: Loss of private keys, incorrect deposits, or wallet mismanagement may result in permanent asset loss, which Polyester cannot recover.
- Regulatory Risks: Changes in laws or regulations may restrict your ability to use Polyester or Zipped Assets.
- Third-Party Risks: Reliance on external services (e.g., Cubist for key management) may introduce vulnerabilities beyond Polyester’s control.
These risks are consistent with those disclosed by similar platforms, such as Layer Zero, WBTC, and Lombard. You acknowledge and accept these risks by using the Services.
6. Asset Custody
Polyester is non-custodial. Assets you deposit are stored in decentralized, MPC-secured vaults using key-sharding and distributed-key management (via Cubist), ensuring no single party, including the Company, controls or views them. After minting, Zipped Assets are sent to your wallet, and you retain full custody. If you lose access to your wallet or private keys, Polyester cannot recover your Zipped Assets. You bear sole responsibility for their safekeeping.
7. Compliance and Restrictions
No KYC: Polyester does not require Know Your Customer (KYC) or Anti-Money Laundering (AML) verification.
- OFAC Screening: Wallet addresses are screened via TRM Labs to ensure compliance with OFAC sanctions. Access may be denied if your wallet is associated with a sanctioned entity.
- IP Blocking: While there are no explicit geographic restrictions, Polyester may implement IP-based blocking to comply with legal or operational needs.
You are responsible for ensuring your use of Polyester complies with all applicable laws in your jurisdiction.
8. Fees and Limits
- Fees: Polyester charges no operational fees. You are responsible only for blockchain gas fees on Polyester Chain and source Chains during deposits and withdrawals.
- Limits: There are no minimum or maximum transaction limits unless explicitly stated on the deposit page for a specific asset.
Gas fees vary based on network conditions and are payable in $FAB for Polyester Chain transactions.
9. Security and Transparency
Security: Polyester uses MPC encryption to secure vault private keys, ensuring decentralized control without human intervention. Key management is facilitated by Cubist (see https://cubist.dev/).
- Transparency: All transactions, smart contracts, and on-chain activities are publicly viewable on Polyester Chain. Our smart contracts are open-source and auditable, allowing you to verify their integrity.
10. Jurisdiction
Polyester operates fully on-chain, governed by Polyester Chain consensus rules, and has no centralized jurisdictional control. However, for legal purposes, this Agreement is governed by the laws of the State of Delaware, USA, where Fabric Blockchain Labs, Inc. is incorporated. Disputes arising from this Agreement will be subject to Delaware jurisdiction, though on-chain operations remain decentralized.
11. User Responsibilities
You agree to:
- Secure your non-custodial wallet and private keys, understanding that loss of keys results in permanent loss of Zipped Assets.
- Verify deposit addresses and transaction details to prevent errors.
- Comply with all applicable laws and regulations.
- Refrain from illegal activities, including money laundering, fraud, or disrupting Polyester’s operations.
- Accept all risks outlined in Section 5.
Polyester is not responsible for losses due to your failure to meet these responsibilities.
12. Limitation of Liability
To the fullest extent permitted by law, Fabric Blockchain Labs, Inc., its affiliates, and Polyester Chain validators shall not be liable for:
- Losses due to user error (e.g., lost private keys, incorrect deposits).
- Losses from smart contract vulnerabilities, blockchain failures, or third-party service issues beyond our control.
- Indirect, incidental, consequential, or punitive damages arising from your use of Polyester.
Our liability, if any, is limited to the amount of fees you paid to Polyester, which is zero unless gas fees are deemed applicable.
13. No Warranties or Insurance
Polyester is provided "as is" and "as available," with no warranties, express or implied, regarding uptime, performance, or security. We do not guarantee that the Services will be uninterrupted, error-free, or free from hacks. Polyester does not provide insurance or protections against asset loss due to blockchain errors, hacks, or security vulnerabilities. You use Polyester at your own risk.
14. Transaction Finality
All transactions on Polyester are processed on-chain and are irreversible once confirmed by Polyester Chain. Polyester cannot reverse, refund, or modify transactions due to their decentralized and final nature.
15. Privacy
Polyester collects minimal data, primarily wallet addresses for OFAC screening via TRM Labs. Our data practices are detailed in our separate Privacy Policy, available at [insert link]. We do not share personal data with third parties except as required for compliance or security purposes.
16. Third-Party Services
Polyester integrates with third-party services (e.g., Cubist for key management, TRM Labs for compliance). Use of these services is at your own risk, and we are not responsible for their performance, security, or availability.
17. Intellectual Property
All content, code, and branding related to Polyester are owned by Fabric Blockchain Labs, Inc. and protected by intellectual property laws. You may not use our trademarks, logos, or content without express written permission.
Frequently Asked Questions
Zipping is the process of depositing an external blockchain asset into Polyester, where it is securely stored in an on-chain vault and an equivalent Zipped Asset is issued on Polyester Chain. This allows users to interact with the Polyester Chain ecosystem while ensuring their assets remain fully backed.
Zipping to Polyester Chain allows users to trade, transact, and interact with Polyester Chain dApps using secure, on-chain Zipped Assets. Polyester Chain is designed for fast, low-cost transactions, AI-driven smart contracts, and enhanced security features.
Polyester works by accepting deposits of supported blockchain assets, securing them in TEE-protected vaults, and issuing a 1:1-backed Zipped Asset on Polyester Chain. When a user wants to retrieve their original asset, they deposit the Zipped Asset into Polyester, which then burns it and releases the corresponding asset from the vault.
Every Zipped Asset on Polyester Chain is fully collateralized, meaning that for every 1 Zipped Asset in circulation, there is an equivalent 1:1 asset securely stored in a Polyester vault on the original chain.
Polyester supports multiple blockchains. The current supported list includes: Ethereum, Base, Binance Smart Chain (BSC), Bitcoin, Arbitrum, Solana, Dogecoin, and Sui. More chains will be added over time based on demand, security evaluations, and Polyester Chain ecosystem expansion.
Polyester is not a bridge - it does not facilitate cross-chain liquidity transfers. Instead, it zips assets into the Polyester Chain ecosystem, creating a secure, 1:1-backed representation of the original asset. This removes the trust risks and vulnerabilities associated with traditional bridging mechanisms.