Legal

Terms of Service

Last updated: May 29, 2026

These Terms of Service ("Terms") govern your use of Syklo: the web app, the syklo.io site, and related services (together, the "Service"), operated by Syklo ("Syklo", "we"). By creating an account or using the Service, you accept these Terms. If you don't agree, don't use the Service.

Summary, not a substitute. This box summarizes key points for convenience. The full text of each section is what applies legally. Syklo is non-custodial: we never hold your money or your private keys.

1. What Syklo is

Syklo is a peer-to-peer (P2P) platform that lets people in Latin America exchange their local currency for digital dollars (USDC) and back, using local payment methods. Trades settle through escrow contracts on the Stellar network. Syklo is not a bank, not a traditional exchange house, and does not custody user funds.

2. Eligibility

You must be at least 18 and legally able to enter contracts in your country of residence. By using the Service you represent that you meet these requirements and are not subject to applicable sanctions or restricted-party lists.

3. Your account and verification

To use the Service you create an account with your email and set a PIN. Some features require identity verification (KYC). You are responsible for:

Keeping your PIN and access credentials confidential.
All activity that occurs in your account.
Notifying us immediately of any unauthorized use.

You may not create multiple accounts to evade limits or sanctions, or use another person's identity.

4. Non-custodial model

Your dollars (USDC) live in a Stellar account tied to your own private key. Syklo does not custody your funds: we cannot initiate transfers from your balance, freeze your money, or redirect it. During an active trade, funds sit in an on-chain escrow contract that releases automatically according to the contract's conditions.

Your responsibility over your keys. Because the model is non-custodial, your account's security depends on protecting your credentials. If you lose access to the recovery mechanisms we provide, we may be unable to restore access to your funds.

5. P2P trades

Trades happen directly between users. Syklo operates the matching engine and escrow system, but is not a counterparty to trades and does not guarantee the behavior of other users. You agree to:

Pay and confirm trades in good faith and on time.
Upload truthful receipts when required.
Not engage in money laundering, fraud, or illicit transactions.

6. Disputes

If a trade has a problem, either party can escalate a dispute before the escrow expires. A Syklo judge reviews the evidence both parties present (receipts, screenshots, timestamps) and decides who to release the escrow funds to. The judge's decision is final by design.

7. Fees

Syklo charges a per-trade fee shown before you confirm. Network (Stellar) fees are minimal and also reflected. We may update our fees; changes are published with reasonable advance notice.

8. Yield on dollars

The Service may offer a yield feature on USDC balances. Yield is variable, not guaranteed, and depends on platform activity and the underlying protocol. Capital contributed is exposed to the smart contract risk of the protocol. It is not a bank deposit and is not covered by deposit insurance.

9. Prohibited conduct

Using the Service for illegal or fraudulent activities.
Manipulating the matching, escrow, or dispute systems.
Attempting to access others' accounts or Syklo's internal systems.
Operating on behalf of sanctioned third parties or evading sanctions.

Violations may result in suspension or closure of your account. Closure doesn't affect your ownership of the USDC held in your non-custodial account.

10. Availability and changes

We make a reasonable effort to keep the Service available, but don't guarantee uninterrupted operation. We may modify, suspend, or discontinue features. Because the model is non-custodial, even if Syklo stopped operating, your USDC remains yours on the Stellar network.

11. Limitation of liability

To the maximum extent permitted by law, Syklo is not liable for indirect, incidental, or consequential damages arising from use of the Service, nor for the conduct of other users, nor for the volatility or events of the underlying digital assets or networks.

12. Governing law

These Terms are governed by the laws applicable to the entity operating Syklo. The Service is directed at users in Latin America and is not an offer of securities in any jurisdiction.

13. Contact

For any questions about these Terms, write to support@syklo.io or via our Telegram support channel.