Vaults Terms and Conditions

Kleos Ireland SR Limited ("Kleos") is a company incorporated under the laws of Ireland, with its registered office in Ireland.

Kleos provides a non-custodial software interface that enables users to interact with blockchain-based smart contracts commonly referred to as "vaults" (the "Vaults"). The Vaults are autonomous on-chain smart contract mechanisms deployed on public blockchain networks and are not operated or controlled by Kleos.

Through the Kleos platform, users may access and interact with such Vaults directly using their own self-custodial wallets. At no time does Kleos hold, store, control, or have custody over users' crypto-assets, private keys, or wallet credentials. All transactions are initiated, signed, and executed directly by users on the relevant blockchain network.

The Vaults do not constitute a bank account, deposit product, collective investment scheme, alternative investment fund, managed account, or financial instrument. Kleos does not provide investment services, portfolio management, brokerage, custody services, dealing, exchange services, or financial advice in connection with the Vaults.

These Terms and Conditions (the "Terms") govern your access to and use of the Vaults through the Kleos platform. By interacting with any Vault, you acknowledge that you understand the non-custodial and technology-only nature of the platform and agree to be bound by these Terms.

Article 1 - Purpose

The purpose of these Terms is to define the conditions under which users may access and interact with autonomous on-chain smart contracts referred to as "Vaults" through the Kleos platform.

The Kleos platform provides a non-custodial technical interface that enables users to connect their self-custodial wallets and directly interact with Vault smart contracts deployed on public blockchain networks. Kleos does not create, manage, operate, or control the Vaults and does not exercise discretion over user assets or transaction execution.

Any rewards, returns, or protocol-based incentives that may arise from interaction with a Vault are generated exclusively by the underlying smart contract logic and associated third-party decentralized protocols. Kleos does not generate yield, guarantee performance, or provide any assurance of returns.

All interactions with Vaults are initiated, authorized, and executed directly by users through their own self-custodial wallets on the relevant blockchain network. At no time does Kleos take custody, possession, or control of user crypto-assets.

These Terms govern solely the relationship between you and Kleos in connection with your access to the Vaults through the Kleos platform.

Article 2 - Duration

These Terms apply for as long as you access or use the Vaults through the Kleos platform.

Kleos may, at its sole discretion, modify, suspend, restrict, or terminate access to the platform or to specific Vaults at any time. Such actions may occur for reasons including, but not limited to:

changes in applicable laws or regulatory guidance;
legal or compliance risk assessments;
security concerns or technical vulnerabilities;
operational updates or infrastructure changes;
suspected unlawful, fraudulent, or abusive user activity;
or any other circumstance that Kleos reasonably considers necessary to protect the platform, its users, or its legal position.

Where reasonably possible, Kleos will provide prior notice of material suspension or termination. However, Kleos reserves the right to act immediately without prior notice where required for legal, regulatory, or security reasons.

Termination or suspension of access to the platform does not affect transactions already executed on the blockchain, which remain governed by the relevant smart contract logic.

Article 3 - Conditions of Participation

Access to and interaction with the Vaults through the Kleos platform is voluntary and non-exclusive. By accessing or interacting with any Vault, you acknowledge that you have read, understood, and agree to be bound by these Terms without reservation.

Kleos reserves the right, at its sole discretion, acting reasonably where applicable, to refuse, restrict, suspend, or terminate a user's access to the platform or to specific Vaults at any time, including but not limited to circumstances where:

the user breaches these Terms;
the user is suspected of fraud, unlawful activity, or abuse of the platform;
the user is subject to sanctions, embargoes, or other legal restrictions;
required by applicable law, regulation, or compliance obligations;
or where access presents legal, regulatory, reputational, or operational risk.

To access the Vaults, you represent and warrant that:

you are a registered user of the Kleos platform;
you are at least 18 years old and have full legal capacity to enter into binding agreements;
you are not subject to sanctions, asset freezes, or legal prohibitions under applicable law;
your access to and use of the Vaults complies with all laws and regulations applicable to you;
you understand that Kleos does not provide investment advice, suitability assessments, or recommendations in relation to any Vault.

You may discontinue use of the Vaults at any time by ceasing interaction with the relevant smart contracts and withdrawing your assets directly through your self-custodial wallet, subject to the technical constraints and logic of the underlying blockchain network and smart contracts.

Kleos does not guarantee the availability of any Vault and does not grant users any contractual entitlement to rewards, returns, or continued access to any specific strategy.

Article 4 - Kleos Earn and Roles

Vaults are a non-custodial DeFi access feature involving multiple independent actors and technical components. The roles and their responsibilities are as follows:

You (Participant): You are the individual user of the Vaults. You initiate deposits into and withdrawals from Vaults via your own self-custodial crypto wallet. You retain control of your private keys and assets at all times. You are solely responsible for authorizing and executing blockchain transactions.
Kleos (Technology Provider): Kleos Ireland SR Limited provides the user interface and technical access/orchestration layer for the Vaults. Kleos enables your access to Vault smart contracts by routing user-initiated transactions through integrated third-party infrastructure. Importantly, Kleos does not take custody of assets; it facilitates interaction with the Vaults in a user-friendly manner. Kleos does not manage assets, execute transactions on your behalf, or provide investment advice.
Third party Infrastructure Provider: Kleos may integrate third-party decentralized infrastructure providers that enable connectivity between the platform interface and on-chain Vault smart contracts or underlying blockchain protocols. Such providers facilitate technical routing and blockchain interaction. All transactions remain user-initiated, non-custodial, and executed directly on public blockchain networks. Infrastructure providers do not take custody of user assets and do not control user transactions.
Earn Providers: Earn Providers are decentralized, non-custodial blockchain protocols operating independently. They may include permissionless lending, liquidity provision, staking, or other on-chain financial strategies. These protocols operate through autonomous smart contracts. Kleos does not control, operate, or guarantee the performance of any Earn Provider.
Vault (Smart Contract): A Vault is a blockchain-based smart contract (or set of smart contracts) deployed on a public blockchain. The Vault aggregates user deposits and allocates assets according to pre-defined parameters encoded in the smart contract. When depositing assets, users receive an on-chain representation of their proportional interest (e.g., vault shares or tokens), subject to the logic of the contract. Withdrawals and yield generation are executed automatically according to the smart contract code. The Vault does not constitute a bank account, deposit-taking service, collective investment scheme, managed account, or traditional financial instrument. It is a software protocol operating through blockchain code.
System Interaction: Within the Vaults feature, Kleos acts solely as a technical facilitator that enables access to on-chain smart contracts. When you deposit or withdraw assets, transactions are executed directly on the blockchain via your self-custodial wallet. Kleos and the third party Infrastructure Provider streamline the interaction process, but asset control and execution remain governed by user authorization and smart contract logic. Neither Kleos nor any intermediary takes possession of your assets at any time.

Article 5 - Risks

Accessing and interacting with Vaults involves engaging with decentralized finance (DeFi) protocols and blockchain-based smart contracts. Such activities involve significant risks that you must understand and accept. The main risks include, but are not limited to, the following:

Smart Contract Risk: Vaults and underlying protocols operate through complex smart contracts. Bugs, vulnerabilities, coding errors, or exploits affecting the Vault smart contracts, integrated infrastructure, or underlying Earn Provider protocols may result in partial or total loss of your crypto-assets. Even where audits have been performed, no smart contract is entirely risk-free.
Market and Volatility Risk: Crypto-assets are highly volatile and subject to rapid and unpredictable price fluctuations. Market events, collateral devaluation, forced liquidations, liquidity crises, or systemic stress may adversely affect Vault performance. No return is guaranteed, and past performance does not indicate future results. You may lose part or all of the assets deposited.
Liquidity Risk: Liquidity within Vaults or underlying protocols may be limited or temporarily unavailable. Withdrawals may be delayed, restricted, or subject to increased costs due to network congestion, insufficient liquidity, protocol-level constraints, or extreme market conditions. Redemption is subject solely to the logic and limitations of the relevant smart contracts and blockchain network.
Blockchain and Network Risk: Public blockchain networks may experience congestion, forks, validator failures, consensus attacks, or other technical disruptions. Transaction fees (gas fees) may fluctuate significantly, and transactions may fail or be delayed. You bear full responsibility for blockchain transaction costs and execution risks.
Regulatory and Legal Risk: The regulatory treatment of crypto-assets and DeFi protocols is evolving and uncertain. Changes in applicable laws or regulations may restrict, modify, or prohibit access to Vaults. Kleos may suspend or terminate access where required by law or compliance obligations.
Self-Custody Risk: You retain sole control of your private keys and wallet credentials. Loss, compromise, theft, or unauthorized access to your wallet may result in irreversible loss of your crypto-assets. Kleos cannot recover private keys, reverse blockchain transactions, or restore lost access.
No Guarantee and No Protection Scheme: Vaults are not bank accounts and are not protected by any deposit guarantee scheme, investor compensation scheme, or insurance mechanism. There is no capital protection and no guaranteed yield. Neither Kleos nor any third party guarantees the performance, security, or availability of any Vault or underlying protocol.
Limited Recourse: Interactions with Vaults occur through autonomous smart contracts on public blockchains. In the event of losses arising from smart contract vulnerabilities, protocol failures, governance decisions, or market events, your recourse may be limited or non-existent. Kleos acts solely as a technology provider and does not insure or underwrite losses arising from the operation of Vaults or underlying protocols.
Assumption of Risk: By accessing and using Vaults, you acknowledge that you understand and accept the risks inherent in decentralized systems. You assume full responsibility for your decision to deposit assets into Vaults, and to the maximum extent permitted by applicable law, Kleos shall not be liable for losses resulting from these risks.

Kleos may conduct technical and operational assessments of integrated infrastructure and protocols; however, such assessments do not eliminate the inherent risks of decentralized systems. DeFi protocols operate autonomously and may change over time. Kleos does not guarantee the security, performance, or continued availability of any Vault or underlying protocol. Nothing in these Terms shall be interpreted as a warranty or assurance that losses will not occur.

Article 6 - Rewards

Returns generated through Vaults depend entirely on the performance of the underlying blockchain protocols and smart contract mechanisms with which the Vault interacts. Any displayed Annual Percentage Yield (APY) is variable, indicative only, and subject to change at any time.

Protocol-Driven Returns: Yield is generated by the underlying decentralized protocols according to their own rules and economic conditions. Such returns are not determined, fixed, or guaranteed by Kleos. Vault smart contracts allocate assets according to pre-defined parameters encoded in their logic, and returns result solely from protocol-level activity.
Market Conditions: General market conditions affecting crypto-assets, including price volatility, liquidity levels, collateral values, borrowing demand, and overall DeFi activity, may significantly influence returns. Yields may increase or decrease depending on prevailing market dynamics.
Utilization and On-Chain Factors: Returns may be affected by the proportion of assets actively deployed within underlying protocols, changes in protocol reward rates, governance decisions of third-party protocols, and other on-chain variables outside the control of Kleos.
Variability of APY: Any APY displayed through the Kleos interface reflects historical data, current protocol conditions, or algorithmic projections, and may fluctuate frequently. Displayed rates are indicative only and do not constitute a promise, guarantee, or commitment of future performance.
No Guaranteed Returns: There is no guaranteed yield, fixed income, or capital protection associated with Vaults. Returns may be lower than expected or may not materialize. In adverse market conditions, users may incur losses.
Interface Display and Information: Kleos may display performance data, historical metrics, or projected yields for informational purposes only. Such information does not constitute financial advice, an offer of investment management, or a guarantee of outcome.
Promotional Adjustments (if applicable): Kleos may, at its discretion, implement temporary fee adjustments, incentive mechanisms, or promotional programs applicable to certain users or categories of users. Any such programs, if offered, will be subject to separate terms and may be modified or withdrawn at any time. Such arrangements do not alter the non-custodial and protocol-driven nature of the Vaults.

Article 7 - Vaults Made Available

Kleos may make available access to one or more Vaults through its platform. The number, type, and configuration of Vaults may change at any time. Kleos reserves the right to add, modify, suspend, or discontinue access to any Vault without prior notice where necessary.

Informational Display: For each Vault made accessible through the platform, Kleos may provide descriptive information, including the underlying asset type, integrated protocols, indicative APY, applicable fees, and technical parameters. Such information is provided for informational purposes only and does not constitute investment advice or a recommendation.
Dynamic Nature of Vaults: Vault characteristics, integrated protocols, yield mechanics, and risk profiles may evolve over time due to smart contract logic, protocol governance decisions, or market conditions. Kleos does not guarantee the continued availability or unchanged configuration of any specific Vault.
Third-Party Protocol Information: Vaults may interact with independent decentralized protocols that operate under their own technical frameworks and documentation. Kleos may provide references or links to publicly available documentation relating to such protocols for convenience only. Kleos does not control, endorse, or assume responsibility for the content, accuracy, or completeness of third-party materials.
No Separate Agreement with Underlying Protocols: User interaction with underlying protocols occurs exclusively through blockchain smart contracts. Kleos does not act as agent, intermediary, or contractual counterparty on behalf of users in relation to such protocols.

Article 8 - Fees and Pricing

Access to the Vaults through the Kleos platform does not involve direct billing or off-chain charges to users. Fees applicable to each Vault are those specified in the relevant Vault configuration.

Performance-Based Fee Parameter: Certain Vaults may include a performance-based fee parameter embedded within the smart contract logic. Where applicable, this parameter results in a percentage of the positive yield generated by the Vault being allocated according to the smart contract rules. Such a mechanism is automatically executed on-chain and reflected in the net returns.
No Management Fee: Vaults do not apply recurring management fees based on assets deposited. Any fee mechanism operates solely in relation to positive yield, as defined by the Vault's encoded parameters.
Underlying Protocol Fees: Vaults may interact with decentralized protocols that apply their own protocol-level fees (such as lending spreads, staking commissions, or staking commissions). These are determined by the respective protocol and are outside the control of Kleos.
Transparency: The applicable fee parameters for each Vault will be indicated in its informational section within the platform. Kleos does not apply additional or hidden charges beyond those disclosed for the relevant Vault.
Net Returns: Any yield received by the user represents the net outcome of the Vault's smart contract operations after application of the relevant fee mechanisms.

Article 9 - Data Protection

Kleos respects your privacy and processes personal data in accordance with applicable data protection laws. Access to the Vaults through the Kleos platform may involve the processing of personal data necessary to administer user accounts, provide platform functionality, ensure security, and comply with applicable legal or regulatory obligations. Personal data may be processed by authorized service providers acting on behalf of Kleos, subject to appropriate safeguards.

Further details regarding the collection, use, storage, and protection of personal data are set out in Kleos's Privacy Policy, available on the Kleos website. By using the platform and accessing the Vaults, you acknowledge that your personal data will be processed in accordance with that Privacy Policy and applicable law.

Article 10 - Modification and Termination

Kleos reserves the right to amend these Terms or to suspend, restrict, modify, or discontinue access to the Vaults at any time, including for reasons related to legal or regulatory changes, security considerations, technical updates, risk management, or business decisions. Where changes materially affect user rights or obligations, Kleos will provide notice through appropriate communication channels, such as in-platform notifications, website announcements, or email where available. Minor updates or clarifications may take effect immediately.

If you do not agree with any modification to these Terms, you may discontinue use of the Vaults at any time and withdraw your assets, subject to the operational constraints of the relevant smart contracts and blockchain networks. Continued access to or use of the Vaults following the effective date of any modification constitutes acceptance of the updated Terms.

Article 11 – Support

If you have questions or require assistance regarding access to the Vaults through the Kleos platform, customer support is available. You may contact Kleos through the in-app support chat feature within the platform or by sending an email to support@kleos-capital.com. Kleos may respond through appropriate communication channels depending on the nature of the request.

Customer support is intended to assist with technical or general questions relating to the platform and these Terms. Support does not provide financial, investment, legal, or tax advice, and cannot guarantee outcomes related to the performance of Vaults or underlying protocols. When contacting support, you should not share private keys, wallet credentials, or other highly sensitive information.

Article 12 - Liability

Kleos provides access to the Vaults through the platform on a best-effort basis and within the framework of the non-custodial DeFi model described in these Terms. Kleos shall not be liable for any failure, interruption, delay, or limitation in the availability or functioning of the platform or the Vaults where such events result from circumstances beyond Kleos's reasonable control. This includes, without limitation, force majeure events, regulatory actions, changes in law, acts of government, war, cyber incidents, blockchain network disruptions, smart contract failures, power outages, or other infrastructure-related events affecting third-party protocols or service providers.

By accessing the Vaults, you acknowledge that participation in decentralized finance involves inherent technological, market, and protocol risks, as described in these Terms. You assume full responsibility for any losses resulting from such risks, except to the extent liability cannot be excluded under applicable law. Kleos does not guarantee uninterrupted availability of the platform, the performance of any Vault, or the solvency, security, or reliability of any underlying protocol or third-party service provider.

To the maximum extent permitted by applicable law, Kleos shall not be liable for any indirect, incidental, consequential, special, or punitive damages, nor for any loss of profits, revenue, data, goodwill, or opportunity arising out of or in connection with access to or use of the Vaults. Where limitations of liability are restricted by law, Kleos's liability shall be limited to the minimum extent permitted. Nothing in these Terms excludes or limits liability for fraud, willful misconduct, gross negligence, or any other liability that cannot be lawfully excluded. Statutory consumer rights, where applicable, remain unaffected.

Article 13 - Governing Law and Jurisdiction

These Terms and any dispute, claim, or controversy arising out of or in connection with them, including any non-contractual obligations, shall be governed by and construed in accordance with the laws of Ireland.

Subject to applicable mandatory consumer protection laws, the courts of Ireland shall have exclusive jurisdiction to settle any dispute arising out of or in connection with these Terms or the use of the Vaults through the Kleos platform.

If you qualify as a consumer under applicable law, nothing in this Article limits any mandatory rights you may have to bring proceedings in the courts of your country of residence or to rely on mandatory provisions of law applicable in that jurisdiction. In the absence of such mandatory provisions, you agree to submit to the exclusive jurisdiction of the Irish courts.