Dema's Account and Wallet Policy outlines the secure management of user information and self-custodial wallet services, offered in partnership with Torus Labs. The email address provided during sign-up serves as the primary identifier, and users are responsible for safeguarding their account credentials. Dema promises robust data encryption and future decentralization of data control back to the user. The wallet is secured by a three-key system, with one key stored locally on the user's device. Dema covers blockchain network fees for activities within its platform but disclaims liability for losses due to user non-compliance or inherent risks in cryptographic systems and blockchain assets. Users are urged to understand these risks and to notify Torus Labs of any unauthorized account activity.
Account and personal information:
When you sign up with Dema, you provide us with an email address, which we will use as primary contact to communicate regarding all your orders and other notifications. You login to your Dema account using your email and all your account services and personal information is identified with your email. When you interact with Dema’s products and services, you provide us with information. We securely store, encrypt and use this information to improve your Dema experience. You will have the option to request that your account & data be deleted at any time. In the future, Dema users will have the option of complete control over all their data. Data previously managed by Dema on a user’s behalf will be transferred to a decentralized data store that the user controls and gives permission to us for accessing it. Here are some of the ways we use your information to improve your experience.
- Handle your orders and payments, deliver your items and provide you with services
- Analyze our performance, so we can fix errors, build features, and to improve our services for you
- Recommend features, products, and services that might be of interest to you and personalize your Dema experience
- Communicate with you about Dema
When you purchase a product on our marketplace, we need your information to perform a contract with you. We retain records related to your purchase to comply with tax-related legal obligations. We also detect, prevent, and respond to fraud; this usage is based on our and our customer's legitimate interests.
Self Custody Wallet
Dema provides its users with a self-custodial wallet in partnership with Torus Labs. With respect to the Blockchain Assets accessible through your Wallet, Dema does not have custody of such assets, and does not have the ability to transfer such assets. Only you have the ability to transfer your Blockchain Assets or initiate other transactions recorded on the blockchain. This policy is designed to clarify the responsibilities, risks, and best practices associated with using Dema's self-custodial wallet service. Users are required to agree to this policy, along with Dema's general terms and Torus Labs' terms, to access or use the wallet services.
- Wallet Access: Your Wallet is secured through a “private key” system. There are three private keys associated with your Wallet, and two private keys are required to access your Wallet at any given time. One private key is stored locally on your device. Another private key is generated using the Login Credentials you provided to open your Account (“Account”). The third private key is maintained by Torus Labs. When you log in to your Account/Wallet with your Login Credentials, you access the account using the private key stored on your device and the private key generated in connection with your Login Credentials. If you lose your device, you may still access your account using your Login Credentials and the private key maintained by Torus. If you cannot remember your Login Credentials, you may still access your account using your device and the private key maintained by Torus.
- Network Fees: Each Supported Blockchain Network (Ex: Ethereum, Polygon) charges a fee for engaging in a transaction on the network. Those network transaction fees fluctuate over time depending on a variety of factors.
- Dema pays these transaction fees on your behalf for all the activities done on the Dema platform
- You are solely responsible for paying network transaction fees associated with transactions you engage in on each blockchain network using the Wallet outside of Dema.
- You are also solely responsible for any other third-party fees that may be incurred in connection with your use of the Wallet outside Dema.
- Account Responsibility: Upon setting up a Dema wallet via Torus Labs, users assume full responsibility for safeguarding their own account credentials, which may include Social Login, OAuth password credentials, or other locally stored secret information. Users are obligated to:
- Maintain confidentiality of their account credentials
- Promptly notify Torus Labs of any unauthorized account activity
- Dema and Torus Labs disclaim liability for any loss or damage due to failure in adhering to these guidelines.
- Risk Acknowledgment: Decentralized applications (dApps) can have code flaws or can be maliciously designed. Users are solely responsible for evaluating the trustworthiness of any third-party content, dApps, or smart contracts they interact with. Dema is not liable for any loss or damage arising from interactions with such third-party elements.
- The following risks are associated with using Blockchain Assets: the risk of losing private keys, theft resulting from third-parties discovering your private key, value fluctuation on the secondary market, disruptions to the relevant blockchain caused by network congestion, lack of usability of the assets due to a hard fork or other disruption to the relevant blockchain, or errors or vulnerabilities in the smart contract code associated with a given Blockchain Asset or transactions involving Blockchain Assets, including with respect to Swap or Bridge transactions. Transfers on the Ethereum and other blockchains are generally irreversible. Once an instruction, signed by the required private key(s), to transfer a Blockchain Asset from one blockchain address to another has been executed, such a transaction cannot be undone.
- Understanding Cryptographic Systems: By using the wallet, users attest that they:
a. Understand the risks inherent to cryptographic systems.
b. Are knowledgeable about native cryptographic tokens like Ether (ETH) and Polygon (MATIC), stablecoins such as USDC as well as smart contract-based tokens.
c. Cryptographic Risks
- Cryptography is a field subject to advances that could pose risks to cryptographic tokens.
- Ethereum, Polygon, and other blockchain technologies are volatile and can be affected by various factors including adoption, speculation, and security risks.
- Torus Labs aims to update the protocol to account for advances in cryptography but does not guarantee full security. Dema and Torus Labs are not liable for any loss due to these inherent risks.