The OODLZ Savings Balance (OSB) is a digital asset repository account that allows you to earn interest on eligible digital assets held in the balance.

Please read and keep these Terms and Conditions (“Interest Account Terms”). If you need a physical copy of these Terms or if you have any questions, you can contact us via email at [email protected] or visit oodlz.io. These Interest Account Terms incorporate by reference the OODLZ terms and conditions found here: https://www.oodlz.io/legal.

By creating an OODLZ Profile on or after the effective date of these Terms, you agree that the terms and conditions contained in herein will govern your OODLZ Profile. A OODLZ Profile opened prior to the effective date will be governed by these Terms, as modified from time to time in accordance with these Terms. You agree that these Terms will govern any existing OODLZ Profile maintained on or after the effective date. We reserve the right to update these Terms at any time, and may notify you of such changes via the Platform or by email at the address specified on your account application.

Anyone who is at least eighteen (18) years old can create an OODLZ Profile.

In order to create your profile, we will need to verify your communication methods such as email, SMS and country of residence. 

OODLZ Profiles are not available in Cuba, Iran, North Korea, Sudan, Syria, any other country to which the United States, the United Kingdom or the European Union embargoes goods or imposes similar sanctions, or any other jurisdiction which we determine we would not be able to offer OODLZ Profiles  for regulatory or policy reasons. Due to the dynamic nature of regulatory requirements and interpretations in the digital asset market, we reserve the right to update the list of prohibited jurisdictions. OODLZ Profiles can be opened through our app or at oodlz.io.

You represent and warrant that any and all information provided to us pursuant to these Terms or otherwise is true, accurate and not misleading in any respect. If any such information changes, it is your obligation to update such information as soon as possible. 

Note that the OODLZ Application is self-managed and as such the only personal date we require is for communication, security and geo-targeting (cashback) services.

You can deposit or transfer FIAT currency such as USD to your OSB via your bank account or debit or credit card.

The transfer of such eligible digital assets to your OODLZ IBS may not be deemed settled and completed until (i) the transaction has been recorded in a block and thirty-four (34) consecutive subsequent blocks referring back to such block (in other words, thirty-five (35) blocks in total) have been added to the applicable blockchain or (ii) the transaction has met a different blockchain or protocol for a specific digital asset that OODLZ has agreed to.

As of the date of these Terms, there is no minimum deposit required to deposit to an OSB. We may, in our sole discretion, institute a minimum balance in the future, and such minimum balance will apply to your OBS. 

OODLZ Accounts can be held in the types of ownership described below.

This account is created by only one person or entity who can deposit, transfer or withdraw assets held on the application.

This profile is owned by a corporation, unincorporated association, limited liability company, limited liability partnership, fiduciary, partnership, sole proprietorship or other entity holding an account in any capacity other than an individual capacity. Each person or entity completing any account opening requirements represents and agrees that he or she is fully authorized to execute all documents or otherwise complete our requirements in his or her stated capacity..

Interest on the account is variable and determined by OODLZ in its sole discretion. Our latest and most updated interest rate can be viewed through the OODLZ Platform.

Our interest rate is tiered, with specified rates in effect at any time applied to the OSB balance.

Any changes to our interest rates and minimum account balances required to earn interest can be viewed in the OODLZ Platform.

Interest will be payable in arrears and added your account balance on a weekly basis. We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the specified balance in the account on each day. The daily periodic rate is calculated by dividing the applicable interest rate by three hundred sixty-five (365) days, even in leap years.

We will determine the interest rates and tiers in our sole and absolute discretion.

We will credit your OSB with the interest earned weekly. Your  Profile must be active on such date in order for you to receive this interest payment. All interest will be paid in digital assets. The accrued interest will be calculated and paid to the one hundred  hundredth of a unit. Any digits beyond that will be truncated; balances and interest payments on reorts will be truncated to four digits (one ten thousandth of a unit). Once interest has been credited to your OSB, you will earn interest on it in future months. Interest will be paid in kind (i.e., in the type of digital asset that is earning interest).

You may make a complete or partial withdrawal from your balance from your OSB at any time.  OODLZ initiates the withdrawal process instantly when possible, and we may require up to 1 hour after you submit your withdrawal request to process the withdrawal, however the average time should be under 5 minutes. Any interest that has accrued but not been credited to your account is not eligible for withdrawal until it has been credited to your OSB.

In the case of any withdrawal, you will be required to provide the details for the account to which you wish to transfer your digital assets. In the event that the details you provide are inaccurate, incomplete or misleading, your digital assets may be permanently lost. When you withdraw all or any of your digital assets, we will not be liable for any loss that results from inaccurate, incomplete or misleading details that you may provide for such transfer. If the account you specify is one to which we are unable to process transfers, we will have no liability for any failure or delay in processing your requested withdrawal.

OODLZ and our third-party partners may experience cyber-attacks, extreme market conditions, or other operational or technical difficulties which could result in the immediate halt of deposits and withdrawals of digital assets either temporarily or permanently. OODLZ is not and will not be responsible or liable for any loss or damage of any sort incurred by you as a result of such cyber-attacks, operational or technical difficulties or suspensions of deposits or withdrawals.

Any transaction fees charged by third parties in connection with your withdrawal may be deducted from the amount you withdraw from your OSB.

For example, if you withdraw one USD from your account, and the USDT network charges a transaction fee equal to .01 USD, you will receive .99 USD.

OODLZ may also charge a fee for withdrawals. We will announce any such withdrawal fees before they take effect, and thereafter the applicable withdrawal fee will be deducted from the amount you withdraw from your OSB.

You will be able to see a record of the transactions related to your OBS which you may wish to use for the purposes of making any required tax filings or payments. It is your responsibility to determine what, if any, taxes apply to the payments you make or receive, and to collect, report, and remit the correct tax to the appropriate tax authority. We will make any tax withholdings or filings that we are required by law to make, but we are not responsible for determining whether taxes apply to your transaction, or for collecting, reporting, or remitting any taxes arising from any transaction. You are responsible for complying with applicable law. You agree that OODLZ is not responsible for determining whether or which laws may apply to your transactions, including tax law. You are solely responsible for reporting and paying any taxes arising from your OBS.

Your OBS is not a checking or savings account, and it is not covered by insurance against losses.

We will lend, sell, pledge, rehypothecate, assign, invest, use, commingle or otherwise dispose of funds and digital assets to counterparties, and we will use our commercial best efforts to prevent losses.

In certain jurisdictions, digital assets are not legal tender, and is not backed by the government. Value balances are not subject to Federal Deposit Insurance Corporation or Securities Investor Protection Corporation protections. Legislative and regulatory changes or actions at the state, federal, or international level may adversely affect the use, transfer, exchange, and value of digital assets. Transactions in digital assets may be irreversible, and, accordingly, losses due to fraudulent or accidental transactions may not be recoverable. Some digital asset transactions will be deemed to be made when recorded on a public ledger, which is not necessarily the date or time that the customer initiates the transaction. The value of digital assets may be derived from the continued willingness of market participants to exchange government-issued currency for digital assets, which may result in the potential for permanent and total loss of value of a particular digital asset should the market for that digital asset disappear. There is no assurance that a person who accepts a digital asset as payment today will continue to do so in the future.

The volatility and unpredictability of the price of digital assets relative to government-issued currency may result in significant loss over a short period of time. The nature of digital assets may lead to an increased risk of fraud or cyber-attack, including rollback attacks or blockchain reorganizations. The nature of digital assets means that any technological difficulties experienced by OODLZ may prevent the access or use of a customer’s digital assets. Any bond or trust account maintained by OODLZ for the benefit of its customers may not be sufficient to cover all, if any, losses incurred by customers. In light of these risks, you should carefully consider whether holding digital assets in a OODLZ account is suitable. Even if OODLZ alerts you to some of the risks involved with digital assets, their protocols and networks, OODLZ has no responsibility to alert you to all of these risks. OODLZ has no control over, and makes no representations regarding the value of digital assets, or the security of their networks or protocols.

There can be no guarantee that OODLZ will be able to pay stated interest on accounts. As OODLZ typically lends digital assets to other counterparties and transactions in digital assets are subject to various risks and uncertainties, OODLZ is subject to the risk of counterparties defaulting on its obligations to OODLZ. Although OODLZ’s obligations to account holders are fixed and not tied to the performance of these loans, significant defaults to OODLZ on its obligations or other losses affecting OODLZ’s ability to pay interest and access the stated amount in accounts, including as a result of fraudulent or accidental transactions, may not be recoverable could cause it to be unable to satisfy its obligations to Profile Holders on a timely basis or at all. Digital assets are held through custodians in unsegregated accounts and subject to insolvency and other risks of our custodians and OODLZ. You should not deposit collateral unless you are sophisticated regarding the risks associated with transactions in digital assets and are able to bear the full risk of loss.

Except where prohibited or limited by applicable law, in consideration for the interest earned on your account, you grant OODLZ the right, without further notice, to hold the digital assets in your account in OODLZ’s name or in another name, and to pledge, repledge, hypothecate, rehypothecate, sell, lend, or otherwise transfer or use any amount of such digital assets, separately or together with other property, with all attendant rights of ownership, and for any period of time and without retaining in OODLZ’s possession and/or control a like amount of digital assets, and to use or transfer such digital assets at its own risk for commercial purposes.

You acknowledge that, with respect to assets used by OODLZ pursuant to this paragraph, (i) you may not be able to exercise certain rights of ownership and (ii) OODLZ may receive compensation in connection with lending or otherwise using digital assets in its business to which you will have no entitlement.

You hereby represent and warrant to us at all times during which you hold digital assets in your OSB that any digital assets used by you in connection with your OSB is owned by you or that you are validly authorized to carry out transactions using such digital assets and that all transactions initiated with your OSB are for your own account(or, in the case of business accounts, for your business’s account) and not on behalf of any other person or entity.

All of our actions relating to your OSB, including these Terms, will be governed by the laws and regulations of the TO-BE-CONFIRMED (eg United States) and, to the extent not preempted, the laws and regulations of theTO-BE-CONFIRMED (eg State of Delaware). Any lawsuit regarding your profile must be brought in a proper court in the TO-BE-CONFIRMED (eg State of Utah). If any part of these Terms is determined to be invalid or unenforceable, such determination will not affect the remainder of these Terms.

We reserve the right at all times to monitor, review, retain and/or disclose any information as necessary to satisfy any applicable law, regulation, legal process or governmental request.

All contributions to your OSB must consist of eligible digital assets and must be transferred to the deposit address provided in your OODLZ account application or as otherwise notified by us to you. We have the right to reject any deposit and the right to return a deposit already made. Any deposit received on any business day at or before 11:59 p.m. UTC-4 will be treated by us as being received on such business day.

These Terms and the deposit relationship do not create a fiduciary relationship between us.

We may follow instructions regarding your OSB if we reasonably believe that you have authorized the instructions.

We will make statements for your OSB available to you by email and/or online at OODLZ.com. All of your balances and (in our discretion) those of any of your affiliates may be combined into one statement.

We will make available to you a periodic statement showing the activity on your OSB and containing information sufficient to allow you to reasonably identify transactions. You must examine the statement and notify us of any unauthorized use or any error or irregularity on the statement within 60 calendar days after the statement is sent or made available to you. If notice is not received within the 60-calendar day period, then we will have no liability to you and the loss will be entirely yours.

We initiate the withdrawal process as quickly as possible but may require up to forty-eight (48) to process withdrawals from your OSB. Withdrawal limits based on frequency may apply from time-to-time and will be described in your OSB interface.

OSB's are not transferable or assignable in whole or in part.

OSB's that are abandoned or unclaimed, with no application activity for 48 months will be forfeit. 

For purposes of these Terms, our business days are Monday through Friday. Saturdays, Sundays and all federal holidays in Australia, USA and UK are not included.

You agree to indemnify and hold us and our affiliates harmless from any losses, damages, suits and expenses, of whatever kind, including reasonable attorneys’ fees, which we may incur in connection with or arising out of your use of your OSB or our activities in connection with such account, your violation of any law, regulation, order or other legal mandate, or the rights of a third party, or any act or omission by your agent, representative or third-party service provider while using your OSB, regardless of whether the specific use was expressly authorized by you. 

You agree to comply with applicable law and to not use your OSB for unlawful internet gambling transactions or any other transaction or activity that is illegal or violates applicable regulations or rules of any applicable self-regulatory organization. Please note, your agreement to comply includes United States federal and state economic sanctions laws and regulations, including those issued by the Office of Foreign Assets Control of the U.S. Department of the Treasury and Executive Orders issued by the President of the United States.

We are not liable to you for claims, costs, losses or damages caused by an event that is beyond our reasonable control (e.g., the acts or omissions of third parties, natural disaster, emergency conditions, government action, equipment or communications malfunction). We are not liable for special, incidental, exemplary, punitive or consequential losses or damages of any kind. Except for any setoff permitted by applicable law and Section 13 below, any amounts owed or liabilities incurred by us (“Obligations”) may be satisfied solely from the assets of OODLZ Inc. 

Without limiting the generality of the foregoing, in no event will you have any recourse, whether by setoff or otherwise, with respect to any amounts owed or liabilities incurred, to or against any assets of any person or entity other than OODLZ Inc. for Obligations, including, without limitation, any member, affiliate, investor, employee, officer, agent or advisor of OODLZ Inc. For the avoidance of doubt, the foregoing will not limit any setoff permitted by applicable law and Section 13 below.

We reserve the right to limit access to your profile, which can include temporarily or permanently removing your online access, restricting your OSB  and/or closing your profile without prior notice to you unless prior notice is required by law. We do not bear liability for such actions. In addition, OODLZ reserves the right to withhold or delay the withdrawal of funds or assets belonging to you if you fail to comply with these Terms.

Our liability to you for a claim is limited to the face value of the item or transaction, or the actual value of any funds not properly credited or debited.

We are not liable to you for errors that do not result in financial loss to you. We may take any action authorized or permitted by these Terms without being liable to you, even if such action causes you to incur fees, expenses or damages.

If third parties make claims on your profile, or if we receive conflicting instructions from authorized signers, or if we become involved in or concerned about a dispute between you and an authorized signer, we have discretion to react in ways we believe to be appropriate, including by closing your profile and returning the digital assets deposited. You are liable for all expenses and fees we incur for such conflicts or disputes, including internal costs and attorneys’ fees, and we may charge them to your OSB.

Fraudulent activity, including any attempt to withdraw funds that you do not own, did not deposit, or did not purchase, is strictly prohibited and may result in the closure of your OODLZ Profile. Fraudulent activity includes any attempt to take advantage of errors on the OODLZ UI. Any errors identified should be flagged to [email protected] for appropriate compensation, where applicable.

If legal action such as an attachment, garnishment, levy or other state or federal legal process (“legal process”) is brought against your profile, we may refuse to permit (or may limit) withdrawals or transfers from your profile until the legal process is satisfied or dismissed. Regardless of the terms of such attachment, garnishment, levy or other state or federal process, we have first claim to any and all funds in your account. We will not contest on your behalf any such legal process and may take action to comply with such legal process as we determine to be appropriate in the circumstances without liability to you. If we incur any expenses, including without limitation, reasonable attorney fees, in connection with any such legal process, we may charge any expenses and fees to your profile or any other profiles you may have with us without prior notice to you, or we may bill you directly for such expenses and fees. Any garnishment or other levy against your profile is subject to our right of setoff and security interest.

You grant us a security interest in any and all of your profile funds, including all amounts on deposit from time to time in such OSB's, interest accrued thereon and proceeds of the foregoing, with us for obligations of every nature now or hereafter owing to us or any of our affiliates by any owner of any of your accounts, whether at stated maturity, required prepayment, declaration, acceleration, demand, or otherwise, in each case together with all extensions or renewals thereof, whether for principal, interest, fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, and whether or not from time to time decreased or extinguished and later increased, created or incurred. These obligations include both secured and unsecured debts and debts you owe individually or together with someone else, including debts and obligations under other transactions or agreements between you and us or any of our affiliates. We may take or set off funds in any or all of your profile balances, or transfer funds between any of all of your balances, with us or any of our affiliates for direct, indirect and acquired obligations that you owe us or our affiliates, including any balances as a result of not having sufficient funds available or as a result of an erroneous transfer of funds to an address under your control, regardless of the source of funds in an balance. These rights are in addition to other rights we have to take, transfer or charge funds in your profile for obligations you owe us or our affiliates. We may consider these Terms as your consent to OODLZ’s asserting its security interest or exercising its right of setoff should any laws governing your profile require your consent. If the law restricts our ability to take, transfer or setoff funds in your profile, or if some deposits are protected from attachment, levy or legal process, to the extent that you may do so by contract, you waive those conditions and limits and authorize us to apply funds in any or all of your balances with us to obligations you owe us. Exercising these rights may result in early withdrawal penalties. You hereby authorize us to file one or more financing and/or continuation statements and amendments thereto relative to all or any part of the foregoing collateral.

We hereby agree that, to the extent permitted by applicable law, you may take or set off funds in your balances, or any amounts we owe you with respect thereto, against the Obligations. If the law restricts your ability to take, transfer or setoff funds in your balances, or if some deposits are protected from attachment, levy or legal process, to the extent that we may do so by contract, we waive those conditions and limits and authorize you to apply funds in any or all of your profile balances with us to the Obligations.

You must promptly notify us of any change in your email address or mobile number. Failure to notify us may result in delay or non-receipt of OODLZ correspondence.

We will record and monitor our telephone conversations with you and your electronic communications with us (chat, e-mail and other forms of electronic exchange). Unless the law requires otherwise, you consent in advance to such recording and monitoring and we do not need to remind you of these activities.

We may delay or waive any rights we have under these Terms. If we delay or waive our rights, you are still obligated to pay us fees and other amounts you may owe us under these Terms. Any delay or waiver of our rights applies only to the specific instance in which we decide to delay or waive the provision and does not affect our future rights in any way.

Please be aware that services can change over time. We reserve the right to discontinue or make changes to balances or services. We may change these Terms, and we may add to or delete from these Terms, and the updated agreement will supersede all prior versions. We will provide notice of changes, additions, and deletions as required by law. If we have provided advance notice and you do not agree with a change, you may close your profile(s) before the effective date of the change, addition or deletion. Your continued maintenance of your profile following the effective date of any change, addition or deletion will be subject to these Terms as so modified.

We accept digital images and e-signatures, not facimile signatures, for documents that need to be signed. However, we will not be liable if use of a device was unauthorized or if the size, color or quality of the signature is different from that of any signature previously presented to us. You agree to reimburse us (and we may charge your balances) for all claims, costs, losses and damages, including reasonable attorneys’ fees, that result from our payment of a withdrawal accompanied by digital image or e-signature  that we otherwise believe you authorized.

We have the right to close your OODLZ Profile at any time for any reason without advance notice. If your profile has a balance when you close it, we will return the remaining digital assets to you, including accrued interest earned until the close date, less any applicable penalty, unless prohibited by applicable law.

Our platform allows you to review your balances and conduct certain other transactions online. You must maintain adequate security and control of any and all IDs, passwords, hints, or any other codes that you use to access your OODLZ Profile through our online platform. Any loss or compromise of the foregoing information and/or your personal information may result in unauthorized access to your OODLZ Profile. We assume no responsibility for any loss that you may sustain due to compromise of your sensitive information.

Tell us AT ONCE if you believe that an electronic transfer has been made without your permission. Telephoning is the best way of keeping your possible losses down. You could lose all the funds in your account (plus any other OODLZ account you own). Also, if your statement shows transfers that you did not make, tell us at once. Call us immediately at the following toll-free number: 214 272 2578. You accept all risks of unauthorized access and use of your OODLZ Account.

We will not be liable for loss or damages completing transfers to or from your balances, for instance:

1. If, through no fault of ours, you do not have enough funds in your OSB to make the transfer.

2. If circumstances beyond our control (such as fire or flood) prevent the transfer, despite reasonable precautions that we have taken.

3. In the case of preauthorized credits, if the data from the third party is not received, is incomplete or erroneous.

4. If your profile is not in an active status.

There may be other exceptions stated in our agreement with you.

We will disclose information to third parties about your account or the transfers you make:

1. Where it is necessary for completing transfers; or

2. In order to verify the existence and condition of your profile for a third party, such as a credit bureau or merchant; or

3. If you give us your written permission; or

4. If we close your profile due to a deficient balance, excessive instances when you do not have sufficient funds in your profile or to protect or enforce our legal rights; or

5. In order to comply with government agency or court orders; or

6. As disclosed in our Privacy Policy.

Call us at 214-272-2578, as soon as you can, if you think your statement is wrong or if you need more information about an item listed on the statement. We must hear from you no later than sixty (60) days after we send you or make available to you the FIRST statement on which the problem or error appeared.

1. Tell us your name and email address.

2. Describe the error or the item you are unsure about and explain as clearly as you can why you believe it is an error or why you need more information.

3. Tell us the amount of the suspected error.

If you tell us orally, we will still  require that you send us your complaint or question in writing, and/or we may request additional information, within ten (10) business days. We will determine whether an error occurred within ten (10) business days after we hear from you and will correct any error promptly. If we need more time, however, we may take up to forty-five (45) days to investigate your complaint or question. We will tell you the results within three (3) business days after completing our investigation. If we decide that there was no error, we will send you a written explanation. You may ask for copies of the documents that we used in our investigation.

If there are any questions regarding our Terms of Service you may contact us using the following information:

OODLZ Inc.

Email: [email protected]

Effective Date: 23/02/2022