# Introduction
Welcome to Swaylend Docs!
[Swaylend](http://app.swaylend.com) is a decentralized lending platform built on the [Fuel Network](https://fuel.network/), which operates using an Ethereum consensus layer. As a fork of Compound V3, Swaylend retains some of its core logic, though it has been rewritten in the Sway language. The platform is structured around base asset markets, allowing users to **supply base asset and earn interest or borrow base asset and pay interest** on a single asset. For example, in the USDC market, USDC functions as the base asset that users can either borrow or supply.
In each market, users can only maintain **one active position**, either as a lender or a borrower. This means **users cannot simultaneously borrow and supply the same asset**, such as USDC, within the USDC market. However, users can hold multiple positions across different markets. For example, they could borrow USDC in the USDC market while supplying ETH in the ETH market simultaneously.
If users choose to **open a borrow position** and borrow a base asset, they must first **provide collateral**. As Swaylend is an overcollateralized lending protocol, users must closely monitor key metrics such as the Liquidation Ratio when managing a position. The collateral provided will be absorbed by the protocol if the user's position becomes subject to liquidation. It is important to note that **no interest is earned on the supplied collateral**. Alternatively, users can choose to **open a supply position** and provide the base asset. In this position, users can **earn interest**, as reflected by the APY displayed in the app. **Users can withdraw their supplied assets at any time** since Swaylend maintains no control over these assets, regardless of whether they are deposited as collateral for a borrowing position or as part of a lending position.
This documentation is intended for anyone seeking to understand how Swaylend works and how to use it. Readers will find helpful information to guide them through onboarding to the protocol, with more technical details presented towards the end. Please note that all information provided in this documentation is subject to change without prior notice.
{% hint style="info" %}
For any questions or further clarification, we encourage you to join our [Discord community](https://discord.gg/7N796pdHNk) to learn more about us.
{% endhint %}
# Contributors
The Core Contributors Behind The Protocol
Swaylend as a decentralized lending protocol is designed to deliver a blockchain-based system for management of digital assets with future implementation of public governance.
As Swaylend progresses towards full decentralization, its founding contributors, Reserve Labs Ltd., have laid the foundation for the community to take over further development. Reserve Labs brings together a unique blend of expertise in both traditional finance and blockchain app development, positioning them as a valuable knowledge hub capable of managing all aspects of DeFi product development.
Reserve Labs' extensive experience in crafting go-to-market strategies and scaling products by leveraging untapped differentiation opportunities has made them a trusted partner, not only in creating Swaylend but also as a key contributor to the Fuel Network. Reserve Labs mission was to create a secure, collaborative environment where new contributors can join in building a truly decentralized product.
# Useful Links
We are providing links to help you easily navigate the Swaylend ecosystem.
* Official [Swaylend Website](http://swaylend.com)
* Official [Swaylend Lending Protocol](http://app.swaylend.com)
* [X Account](https://x.com/swaylend)
* [GitHub](https://github.com/Swaylend)
* [Discord](https://discord.gg/XzAeKsw86h)
{% hint style="info" %}
Always ensure you are visiting the correct links when interacting with dApps. We recommend saving the provided links in your browser for quicker and safer access to the Swaylend ecosystem.
{% endhint %}
# Bridge to Fuel Network
How to bridge assets to Fuel
Swaylend Protocol is deployed on the Fuel Network. To use Swaylend, if you don’t have the necessary assets in your wallet, you’ll need to transfer them to the Fuel Network using [Official Fuel Bridge](https://app-mainnet.fuel.network/bridge).
# Connect Wallet
How to Connect with Swaylend?
To interact with the Swaylend Protocol, users must connect one of the supported Web3 wallets
* [Fuel Wallet](https://wallet.fuel.network/docs/install/)
* [Fuelet Wallet](https://fuelet.app/download/)
* [Bako Multisig Wallet](https://www.bako.global/)
* Any of the supported [Ethereum Wallets](https://explorer.walletconnect.com/?type=wallet) (Metamask)
Once you have connected your wallet, you will be able to start interacting with Swaylend dApp.
# NAVIGATE SWAYLEND
Learn here how to use Swaylend Protocol
Swaylend Protocol is a lending dApp allowing users to open **borrowing** or **lending** positions. Below is a detailed walkthrough of each position and important details to ensure capital efficiency and fund safety. Below, we explain the business logic behind Swaylend. For those interested in the technical aspects of the smart contracts running the protocol, please refer to the Developers section.
# Supplying Base Asset
In each market, users can open a Supply (Earn) Position. This means they provide the Base Asset to the protocol, which is then lent to users looking to open borrowing positions.
In this chapter you can find:
[Supply & Withdraw](/supplying-base-asset/supply-and-withdraw)
[Interest](/supplying-base-asset/interest)
# Supply & Withdraw
Users can deposit the base asset at any time, provided they don’t have an active borrow position in the same market. As users deposit base assets and become lenders, they begin earning interest rates paid by borrowers in the market. Users can withdraw their deposited base assets when the market conditions are stable - not more outstanding debt value versus supplied value.
# Interest
Users with an active Supply position start earning interest paid by those borrowing in the market. The interest earned from supplying base assets is added to the lender’s **total supplied balance** and can be withdrawn if the market conditions are stable. Supplying also includes a utilization rate “kink,” meaning that beyond a certain point, the interest rate increases more rapidly, similar to the borrowing interest rate. It’s important to note that the Supply and Borrow APY do not have to increase at the same rate.
# Borrowing Base Asset
Swaylend is divided into markets, each with its base asset that users can borrow. For example, in the Fuel-USDC market, you can borrow USDC on the Fuel network if you've provided enough collateral to cover the borrowed amount in case of liquidation.
In this chapter you can find:
[Collateral](/borrowing-base-asset/collateral)
[Borrow & Repay](/borrowing-base-asset/borrow-and-repay)
[Interest](/borrowing-base-asset/interest)
[Liquidation](/borrowing-base-asset/liquidation)
# Collateral
To open a borrowing position, users must **first supply one of the available collateral assets**. The value of the collateral determines how much they can borrow from the protocol. Since Swaylend operates as an overcollateralized protocol, users should be aware that their debt cannot match the full value of the collateral on a 1:1 basis.
Each available collateral asset has its own **Supply Cap**, which helps manage the protocol's risk. If an asset's Supply Cap reaches 100% on the Dashboard, users will not be able to deposit that asset and will need to choose one with remaining capacity.
Each collateral asset increases a user's borrowing capacity based on its **Borrowing Factor**, which represents the percentage of the collateral's value that can be borrowed. For example, if the Borrowing Factor for ETH is 90%, a user can borrow up to 90% of the USD value of their supplied ETH in the base asset.
# Borrow & Repay
The base asset can be borrowed, and the amount borrowed must align with the borrowing collateral factor requirements. If a borrowing account fails to meet these requirements, it cannot borrow more assets until it either:
* **Supplies additional collateral** or
* **Reduces its borrow balance**
Understanding these factors is crucial for maintaining borrowing capacity and ensuring compliance with the protocol's rules. At any time, users can repay their debt partially or in full. When the account's borrow balance reaches zero, it means that no additional interest will accrue.
{% hint style="info" %}
When repaying outstanding debt, users must either repay the full amount or ensure the remaining borrow balance is above $10. The protocol does not allow for an outstanding debt of less than $10. If your repayment would reduce the debt to less than $10, the repayment action will not be processed.
{% endhint %}
# Interest
Users should note that they will not earn any interest on the collateral they provide. The only interest applicable is the rate users must pay on their open borrowing position, as indicated by the APY. Borrowing includes a **utilization rate “kink”** meaning that above a certain point, the **interest rate increases more rapidly**. This interest accumulates every second using the block timestamp and adds to the total debt, which must be fully repaid to close the borrowing position. Users need to monitor their open debt, as the additional interest could make their position subject to liquidation.
# Liquidation
Liquidation occurs when a user's collateral is sold to repay outstanding debt. It is governed by **Liquidation Collateral Factors**, which should not be confused with the Borrowing Factor. The Liquidation Collateral Factor is higher than the Borrowing Factor, meaning that if a user's position falls between these two values, they cannot borrow additional assets but can provide more collateral or repay part of their debt.
When an account’s borrow balance exceeds the limits set by the liquidation collateral factors, it becomes **eligible for liquidation**. A liquidator — whether a bot, contract, or user — can take action to seize the collateral and return its value, minus a **Liquidation Penalty**, to the user in the base asset. After liquidation, the user will have no remaining debt and typically will have a surplus balance in the base asset.
# Protocol Reserves
Reserves consist of the balance of the base or collateral asset held within the protocol, serving as a safeguard against bad debt for users. These reserves can also be withdrawn to support the development of the Swaylend protocol.
Reserves are built through two main mechanisms:
* The **difference between the interest** paid by borrowers and the interest earned by suppliers of the base asset contributes to the protocol's reserves
* The **liquidation process** can both utilize and enhance reserves, aligning with the target reserve level established by the Swaylend team.
# Protocol Rewards
# Claim Rewards
# Reward Accrual Tracking
# Get Rward Accrued
# Contract overview
Description of the protocol code
The architecture of Swaylend has been rewritten from the Ethereum lending protocol solution [Compound v3](https://compound.finance/) to the Sway programming language. This documentation will cover two topics related to the Swaylend contracts: contract methods and storage entities. The contract methods section will discuss the functions available to interact with the contracts. In the storage entities section, we will explore the data stored by the contracts and the relationships between different storage values.
In this chapter you can find:
* [Contract methods](/developers/contract-methods/contract-methods)
* [Contract storage](/developers/contract-methods/contract-storage)
# Contract methods
Below are brief descriptions of all the important functions used in our smart contract. For implementation details, please refer to our GitHub repository.
* `fn get_version() -> u8` returns the current version of the smart contract.
* `fn activate_contract(market_configuration: MarketConfiguration, owner: Identity)` has read and write permission to contract storage. Accepts a market configuration and owner's identity as argument. Initiates the market and sets the config, you can only call it once.
* `fn add_collateral_asset(configuration: CollateralConfiguration)` has read and write permission to contract storage. Accepts a collateral configuration as argument. Adds a new supported collateral asset to the market.
* `fn pause_collateral_asset(asset_id: AssetId)` has read and write permission to contract storage. Accepts the asset id as argument. Pause a specific collateral asset.
* `fn resume_collateral_asset(asset_id: AssetId)` has read and write permission to contract storage. Accepts the asset id as argument. Resumes a paused collateral asset.
* `fn update_collateral_asset(asset_id: AssetId, configuration: CollateralConfiguration)` has read and write permission to contract storage. Accepts the asset id and collateral configuration as arguments. Updates a specific asset id with new collateral configuration.
* `fn get_collateral_configurations() -> Vec` has read permission to contract storage. Returns all current collateral configurations.
* `fn supply_collateral()` has read and write permissions to contract storage. Performs the depositing of collateral assets.
* `fn withdraw_collateral(asset_id: AssetId, amount: u64, price_data_update: PriceDataUpdate)` has read and write permissions to contract storage. Accepts an asset id, amount, and price data update (Pyth) as arguments. Performs the withdrawing of collateral assets.
* `fn get_user_collateral(account: Identity, asset_id: AssetId) -> u64` has read permissions to contract storage. Accepts the account's identity and asset id as arguments. Returns the collateral asset position of the account.
* `fn get_all_user_collateral(account: Identity) -> Vec<(AssetId, u64)>` has read permissions to contract storage. Accepts the account's identity as an argument. Returns the all collateral asset positions of the account.
* `fn totals_collateral(asset_id: AssetId) -> u64` has read permissions to contract storage. Accepts the asset id as an argument. Returns the total collateral asset amount for the asset.
* `fn supply_base()` has read and write permissions to contract storage. Deposit the base asset.
* `fn withdraw_base(amount: u64, price_data_update: PriceDataUpdate)` has read and write permissions to contract storage. Accepts the amount and price data update (Pyth) as arguments. Withdrawal of base token.
* `fn get_user_supply_borrow(account: Identity) -> (u256, u256)` has read permissions to contract storage. Accepts the account's identity as an argument. Returns the account's supply and borrow amount.
* `fn available_to_borrow(account: Identity) -> u256` has read permissions to contract storage. Accepts the account's identity as an argument. Returns the user’s available amount to borrow.
* `fn absorb(accounts: Vec, price_data_update: PriceDataUpdate)` has read and write permissions to contract storage. Accepts account identities that should be absorbed and price data update (Pyth) as arguments. Transfers pledge and debt of underwater accounts to protocol balance.
* `fn is_liquidatable(account: Identity) -> bool` has read permission to contract storage. Accepts an account's identity as an argument. Returns a boolean whether the account is subject to liquidation.
* `fn buy_collateral(asset_id: AssetId, min_amount: u64, recipient: Identity)` has read permission to contract storage. Accepts an asset id, min amount, and recipient's identity as arguments. Buys collateral from liquidated accounts from the protocol and sends it to the recipient.
* `fn collateral_value_to_sell(asset_id: AssetId, collateral_amount: u64) -> u64` has read permission to contract storage. Accepts asset id and collateral amount as arguments. Returns the amount of collateral asset to sell in base asset value.
* `fn quote_collateral(asset_id: AssetId, base_amount: u64) -> u64` has read permission to contract storage. Accepts an asset id to be liquidated and minimal to receive amount values as arguments. Returns how many collateral tokens the liquidator will receive for the number of asset base tokens entered.
* `fn get_reserves() -> I256` has read permission to contract storage. Returns the protocol reserves of the base asset.
* `fn withdraw_reserves(to: Identity, amount: u64)` has read permission to contract storage. Accepts an account's identity and amount as arguments. Withdraws the reserves of the underlying asset.
* `fn get_collateral_reserves(asset_id: AssetId) -> I256` has read permission to contract storage. Accepts an asset id as an argument. Returns asset collateral reserves.
* `fn pause(config: PauseConfiguration)` has write and read permission to contract storage. Accepts an object with the PauseConfiguration type as argument. Suspends the list of methods (supply, withdraw, absorb, buy collateral).
* `fn get_pause_configuration() -> PauseConfiguration` has read permission to contract storage. Returns the pause configuration (supply, withdraw, absorb, buy collateral).
* `fn get_market_configuration() -> MarketConfiguration` has read permission to contract storage. Returns the market configuration.
* `fn get_market_basics() -> MarketBasics` has read permission to contract storage. Returns the market information.
* `fn get_market_basics_with_interest() -> MarketBasics` has read permission to contract storage. Returns the market information including accrued interests.
* `fn get_user_basic(account: Identity) -> UserBasic` has read permission to contract storage. Accepts the account's identity as an argument. Returns the user information.
* `fn get_user_basic_with_interest(account: Identity) -> I256` has read permission to contract storage. Accepts the account's identity as an argument. Returns the user information with accrued interests.
* `fn get_utilization() -> u256` has read permission to contract storage. Returns utilization of the market.
* `fn balance_of(asset_id: AssetId) -> u64` has read permission to contract storage. Accepts an asset id as an argument. Returns the balance of the contract for the certain asset.
* `fn get_supply_rate(utilization: u256) -> u256` has read permission to contract storage. Accepts a utilization value as an argument. Returns the deposit rate accrued per second.
* `fn get_borrow_rate(utilization: u256) -> u256` has read permission to contract storage. Accepts a utilization value as an argument. Returns the borrow rate accrued per second.
* `fn set_pyth_contract_id(contract_id: ContractId)` has write permissions to contract storage. Accepts a contract id as an argument. Sets the contract id for the Pyth oracle.
* `fn get_pyth_contract_id() -> ContractId` has read permissions to contract storage. Returns the contract id for the Pyth oracle.
* `fn get_price(price_feed_id: PriceFeedId) -> Price` has read permissions to contract storage. Accepts a price feed id as an argument. Returns the price for the asset (based on its price feed id).
* `fn update_fee(update_data:Vec) -> u64` has read permissions to contract storage. Accepts an update data as an argument. Returns the price fee for updating the price in the Pyth oracle.
* `fn update_price_if_neceessary(price_data_update: PriceDataUpdate)` has read permissions to contract storage. Accepts a price data update as an argument. Updates the price of some asset in the Pyth oracle.
* `fn update_market_configuration(configuration: MarketConfiguration)` has write permissions to contract storage. Accepts a market configuration as an argument. Updates the market configuration.
* `fn transfer_ownership(new_owner: Identity)` has write permissions to contract storage. Accepts a new owner's identity as an argument. Transfers an ownership of the smart contract to the new owner.
* `fn renounce_ownership()` has write permissions to contract storage. Renounces ownership of the smart contract (sets it to the zero address).
# Contract storage
Market Storage is a crucial component of our contract that serves as a central repository for all data related to the contract's mathematical operations.
## Data Structures
### Market Configuration
The `MarketConfiguration` entity is used to store the market configuration for each individual market. This object contains information such as the token that can be supplied and borrowed, details about the pricing, interest rates, rewards, and more.
Market configuration has the following fields:
* `base_token` (AssetId): The asset that can be supplied and borrowed.
* `base_token_decimals` (u32): The decimal of the base token.
* `base_token_price_feed_id` (b256): The address of the price oracle contract where you can check the base token's market price in USD.
* `supply_kink` (u256): Above this point the supply interest rate increases more rapidly.
* `borrow_kink` (u256): above this point the borrow interest rate increases more rapidly.
* `supply_per_second_interest_rate_slope_low` (u256): The coefficient of dependence of the deposit rate on utilization every second if utilization is below optimal.
* `supply_per_second_interest_rate_slope_high` (u256): The coefficient of dependence of the deposit rate on utilization every second if utilization is higher than optimal.
* `supply_per_second_interest_rate_base` (u256): The minimum monthly supply rate.
* `borrow_per_second_interest_rate_slope_low` (u256): The coefficient of dependence of the borrow rate on utilization every second if utilization is below optimal.
* `borrow_per_second_interest_rate_slope_high` (u256): The coefficient of dependence of the borrow rate on utilization every second if utilization is higher than optimal.
* `borrow_per_second_interest_rate_base` (u256): The minimum monthly borrow rate.
* `store_front_price_factor` (u256): The share of the elimination of the penalty that the liquidator receives (and the rest remains on the score sheet as a protective reserve).
* `base_tracking_index_scale` (u256): The index scale that determines how much rewards are being accrued.
* `base_tracking_supply_speed` (u256): The amount of rewards (liquidity mining) we accrue per second for the entire supply.
* `base_tracking_borrow_speed` (u256): The amount of rewards (liquidity mining) we charge per second for the entire borrow.
* `base_min_for_rewards` (u256): The minimum amount at which rewards are accrued, with the same decimal as the base asset.
* `base_borrow_min` (u256): The minimal value of the base borrow amount, with the same decimal as the base asset.
* `target_reserves` (u256): The maximum number of protective reserves at which the sale of collateral occurs during liquidation.
### Collateral Configuration
The `CollateralConfiguration` entity is used to store the configuration values for each collateral asset in the market. It contains the following fields:
* `asset_id` (AssetId): The asset that can be used as collateral.
* `price_feed_id` (b256): The price feed id of the price oracle contract where you can check the token's market price in USD.
* `decimals` (u32): The decimal of the token.
* `borrow_collateral_factor` (u256): The amount you can borrow relative to the dollar value of the collateral asset.
* `liquidate_collateral_factor` (u256): The ratio of the dollar value of the underlying asset to the dollar value of the collateral asset at which the debt will be liquidated.
* `liquidation_penalty` (u256): The amount of collateral that will be retained upon liquidation.
* `supply_cap` (u64): The maximum number of supply tokens per protocol.
* `paused` (bool): Whether this collateral asset is currently active.
### Pause Configuration
The `PauseConfiguration` entity has the following fields:
* `supply_paused` (bool)
* `withdraw_paused` (bool)
* `absorb_paused` (bool)
* `buy_pause` (bool)
Each field in the `PauseConfiguration` represents whether a particular contract action (supply, withdraw, absorb, or buy) is currently paused or not.
### User Basic
The `UserBasic` entity stores the position information of each user. It has the following fields:
* `principal` (i256): the user's balance at the time of market initialization, which can be used to calculate the current supply balance by multiplying it with sRate / bRate.
* `base_tracking_index` (u256): this value determines how much rewards the user is eligible to receive.
* `base_tracking_accrued` (u256): the total rewards accrued for the user.
### Market Basics
The `MarketBasics` entity stores the market-wide values. It has the following fields:
* `base_supply_index` (u256): the supply rate.
* `base_borrow_index` (u256): the borrowing rate.
* `tracking_supply_index` (u256): the supply rate for rewards.
* `tracking_borrow_index` (u256): the borrowing rate for rewards.
* `total_supply_base` (u256): the total supply of the underlying asset in the market.
* `total_borrow_base` (u256): the total borrow of the underlying asset in the market.
* `last_accrual_time` (u256): the last time when interest was accrued.
## Structure of the Contract Storage
Market contract's storage has the following fields:
* `market_configuration: MarketConfiguration`
* `collateral_configurations: StorageMap`
* `collateral_configuration_keys: StorageVec`
* `pause_config: PauseConfiguration`
* `totals_collateral: StorageMap`
* `user_collateral: StorageMap<(Identity, AssetId), u64>`
* `user_basic: StorageMap`
* `market_basic: MarketBasics`
* `pyth_contract_id: ContractId`
# Fuel Points
As users interact with Swaylend, they are automatically integrated into the Fuel Points System defined by the Fuel Network. On the dApp's UI, users can view the total number of Fuel Points they’ve accumulated across the entire Fuel ecosystem.
{% hint style="info" %}
Swaylend has no control over your Fuel Points and cannot verify their accuracy. For questions about Fuel Points, please reach out to [Fuel Discord](https://discord.com/invite/xfpK4Pe).
{% endhint %}
{% hint style="info" %}
Please note, that these points are not exclusively earned on Swaylend but are provided to enhance user navigation throughout the broader ecosystem.
{% endhint %}
For more information on Fuel Points please see [Fuel's Official Points Guide](https://app.fuel.network/earn-points).
# SwayPoints
Swaylend is introducing an incentive mechanism called SwayPoints to attract new users, reward loyalty, and guide development to maintain a stable ecosystem. Below, we present the SwayPoints system and the initial values determined at launch.
The SwayPoints program incentivizes user engagement with the Swaylend protocol by rewarding various activities. These points reflect the dollar value of users’ participation and help them gain exposure to additional benefits such as earning Fuel Points.
## How to Earn SwayPoints?
Swaylend users can earn SwayPoints through the following activities:
### Supply Collateral Assets
Users receive **1 SwayPoint** for every dollar’s worth of assets supplied in their Swaylend account as collateral.
{% hint style="info" %}
If users hold $1,000 worth of assets on Swaylend, they earn 1,000 SwayPoints daily.
{% endhint %}
### Provide Base Assets
All users who lend base assets and provide liquidity in available markets earn rewards. Specifically, users receive **3 SwayPoints** for every dollar’s worth of assets supplied as Earn liquidity.
{% hint style="info" %}
If users provide $500 worth of assets in Earn, they earn 1,500 SwayPoints daily.
{% endhint %}
### Borrow Base Assets
All users who borrow base assets in available markets earn rewards. Users receive **5 SwayPoints** for every dollar’s worth of assets borrowed from the protocol.
{% hint style="info" %}
If users borrow $200 worth of assets in Borrow, they will earn 1,000 SwayPoints daily.
{% endhint %}
All points are calculated and assigned to user accounts every 24-hour cycle.
## Can I earn multiple points at once?
Yes, users can earn multiple points simultaneously based on the positions they have opened on Swaylend.
{% hint style="info" %}
For example, a user supplies $1,000 worth of assets as collateral and simultaneously borrows $200. They will earn points as follows:
• Collateral: $1,000 x 1 SwayPoint = 1,000 SwayPoints
• Borrowing: $200 x 5 SwayPoints = 1,000 SwayPoints
This totals 2,000 SwayPoints earned daily.
{% endhint %}
{% hint style="warning" %}
**Please note that Swaylend reserves the right to modify any of the values without prior notice**. However, all changes will be updated in the documentation immediately, so users are encouraged to revisit this page regularly for any updates. Users can see the status of their points and leaderboard on [Swaylend Dashboard](http://app.swaylend.com).
{% endhint %}
# Risks
Risks associated with supplying and borrowing
**Asset Risk**
Crypto assets are volatile and are subject to many risks, including but not limited to adoption, speculation, regulatory change, technology, and security risks. Any asset may be subject to large swings in value and may even become worthless, but Swaylend architecture makes risk limited.
### **Smart Contract Risk**
We do our best to prevent all possible attacks. However, the risk of exploitation can never be fully eliminated.
{% hint style="info" %}
Note as the protocol is currently in the alpha testing phase, updates to the contracts may result in the loss of funds.
{% endhint %}
### **Liquidation**
If the value of Supplier collateral dips below the threshold determined by asset LTV (loan-to-value ratios), a portion of the debt will be liquidated with a liquidation penalty deducted from the deposited collateral.
Crypto assets are highly volatile. Due to sharp price fluctuations, liquidation may occur suddenly. There is a possibility that supplied collateral will not cover a debt position.
# Terms & Condition
THIS IS AN IMPORTANT DOCUMENT. These Terms contain the terms and conditions for the provision and use of the SwayLend Protocol, along with any electronic form or contract executed therethrough. PLEASE
THIS IS AN IMPORTANT DOCUMENT.
These Terms contain the terms and conditions for the provision and use of the SwayLend Protocol, along with any electronic form or contract executed therethrough.
PLEASE READ IT CAREFULLY.
## IMPORTANT NOTICE
ACCESSING OR USING THE SERVICE (AS DEFINED BELOW) MAY BE RESTRICTED BY LAW IN CERTAIN JURISDICTIONS AS OFFERING THE SERVICE MAY BE SUBJECT TO LEGAL INVESTMENT LAWS AND REGULATIONS.
THE SERVICE IS NOT AVAILABLE TO ANYONE RESIDING OR OTHERWISE ESTABLISHED IN A JURISDICTION WHERE VIRTUAL ASSETS AND/OR THEIR USE CONTRAVENES APPLICABLE LAWS AND/OR ARE DEEMED TO BE FINANCIAL INSTRUMENTS.
PRIOR TO ACCESSING OR USING THE SERVICE YOU MUST INFORM YOURSELF OF AND OBSERVE ANY RESTRICTIONS APPLICABLE TO YOU. A FAILURE TO COMPLY WITH APPLICABLE RESTRICTIONS MAY CONSTITUTE A VIOLATION BY YOU OF THE LAWS AND REGULATIONS IN YOUR JURISDICTION.
## TERRITORIAL LIMITATION
THE SERVICE IS NOT AVAILABLE IN BELARUS, BURUNDI, THE CENTRAL AFRICAN REPUBLIC, THE DEMOCRATIC REPUBLIC OF CONGO, THE DEMOCRATIC PEOPLE’S REPUBLIC OF KOREA, UKRAINE, CUBA, IRAN, IRAQ LIBYA, THE PEOPLE’S REPUBLIC OF CHINA, THE RUSSIAN FEDERATION, SOMALIA, SUDAN, SOUTH SUDAN, SYRIA, VENEZUELA, THE UNITED STATES OF AMERICA, YEMEN AND ZIMBABWE.
THE SERVICE HAS NOT BEEN OR WILL NOT BE REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT") OR WITH ANY SECURITIES REGULATORY AUTHORITY OF ANY STATE OR OTHER JURISDICTION OF THE UNITED STATES. CONSEQUENTLY, THE SERVICE MAY NOT BE ACCESSED OR USED BY OR OTHERWISE OFFERED, SOLD, DELIVERED OR TRANSFERRED WITHIN THE UNITED STATES OR TO OR FOR THE ACCOUNT OR BENEFIT OF ANY U.S. PERSONS AS SUCH TERMS ARE DEFINED IN REGULATIONS UNDER THE SECURITIES ACT OR TO ANY U.S. CITIZENS (AS DEFINED IN 8 U.S.C. SUBCHAPTER III) OR ANY U.S. PERSONS (AS DEFINED IN 17 C.F.R S230.902(K)
\
\
# Legal Agreement
These SwayLend Terms and Conditions (the “**Terms**”), constitute a legally binding agreement by and between Reserve Labs Ltd. (“**Company**”, “**SwayLend**” or “**we**”) and you as a user of the Service (collectively and as applicable, “**you**” and “**your**”). Company and You may be referred to throughout these Terms collectively as the “**Parties**” or individually as a “**Party**”.
By accessing or using our Service, you accept and agree to be bound by and to comply with these Terms (the “**Agreement**”). **You are entering into a binding Agreement**. If you do not agree to these Terms, you must not access or use our Service. You must be able to form a legally binding contract online either on behalf of a company or as an individual. Accordingly, you represent that: (a) if you are agreeing to these Terms on behalf of a company or other legal entity, you have the legal authority to bind the company or other legal entity to these Terms; and (b) you are at least 18 years old (or the age of majority where you reside, whichever is older), can form a legally binding contract online, and have the full, right, power and authority to enter into and to comply with the obligations under these Terms. You further represent that you are not a citizen, resident, or agent of, or an entity organized, incorporated or doing business in, Belarus, Burundi, the temporarily occupied regions of Ukraine, Cuba, Democratic Republic of Congo, Iran, Iraq, Libya, North Korea, Somalia, Sudan, South Sudan, Syria, Venezuela, Yemen, Zimbabwe or any other country to which the United States, the United Kingdom, the European Union or any of its member states or the United Nations or any of its member states (collectively, the “**Major Jurisdictions**”) embargoes goods or imposes similar sanctions (such embargoed or sanctioned territories, collectively, the “**Restricted Territories**”); (ii) you are not, and do not directly or indirectly own or control, and have not received any assets from, any blockchain address that is, listed on any sanctions list or equivalent maintained by any of the Major Jurisdictions (such sanctions-listed persons, collectively, “**Sanctions Lists Persons**”); and (iii) you do not intend to transact in or with any Restricted Territories or Sanctions List Persons, or where your use of the Protocol (as defined below) and Service would be illegal or otherwise violate any applicable law. You further represent that your access and use of the Protocol or Service will fully comply with all applicable laws and regulations, and that you will not access or use the Protocol or Service to conduct, promote, or otherwise facilitate any illegal activity.
By accessing or using the Protocol, you agree that SwayLend does not provide execution or clearing services of any kind and is not responsible for the execution or clearing of transactions automated through SwayLend software. Furthermore, by accessing or using our Service, you acknowledge and accept that SwayLend does not operate an exchange or a trading facility, act as a bank, as a custodian, as a securities firm or as a broker or dealer, and it does under no circumstances provide investment, tax, or legal advice to its Users. You should not take, or refrain from taking, any action based on any information contained in the Interface. Before you make any financial, legal, or other decisions involving the Interface, you should seek independent professional advice from an individual who is licensed and qualified in the area for which such advice would be appropriate.
## 1. Definitions
For the purpose of these Terms, the following capitalized terms shall have the following meanings:
1.1. “**Affiliate**” means, with respect to a party to these Terms, any legal entity that, directly or indirectly controls, is controlled by, or is under common control with such party.
1.2. “**Applicable Law**” means any domestic or foreign law, rule, statute, regulation, by-law, order, protocol, code, decree, or other directive, requirement or guideline, published or in force which applies to or is otherwise intended to govern or regulate any person, property, transaction, activity, event or other matter, including any rule, order, judgment, directive or other requirement or guideline issued by any Governmental Authority having jurisdiction over the Company, you, the Protocol or the Service, or as otherwise duly enacted, enforceable by law, the common law or equity.
1.3. “**Applicable Network**” means each respective blockchain network supported by the Protocol to perform any of the Services, as displayed on the Interface at any given time.
1.4. “**Applicable Network Token**” means a utility token that may be used to purchase computational resources to run decentralized applications or perform actions on the Applicable Network.
1.5. “**Wallet Address**” means the unique public key virtual asset identifier that points to an Applicable Network-compatible wallet to which Applicable Network tokens may be sent or stored.
1.6. “**SwayLend Smart Contracts**” means the proprietary Smart Contracts (as defined below) developed by SwayLend for the purpose of facilitating overcollateralized Virtual Asset peer-to-pool lending.
1.7. “**Governmental Authority**” includes any domestic or foreign federal, provincial or state, municipal, local or other governmental, regulatory, judicial or administrative authority.
1.8. “**Interface**” means the SwayLend Website located at , and all associated sites linked thereto by the Company and its Affiliates.
1.9. “**Procol**” means the Interface taken together with the underlying SwayLend Smart Contracts connected to it, which includes, for certainty, SwayLend’s decentralized application layer on the Applicable Network.
1.10. “**Service**” has the meaning set out in Section 2.1.
1.11. “**Smart Contract**” means a [computer program](https://en.wikipedia.org/wiki/Computer_program) or a [transaction protocol](https://en.wikipedia.org/wiki/Transaction_Protocol_Data_Unit) that is intended to automatically execute, control or document legally relevant events and actions which exist across a distributed, decentralized [blockchain](https://www.investopedia.com/terms/b/blockchain.asp) network.
1.12. “**Virtual Asse**t” means a digital representation of value that can be digitally traded, or transferred, and can be used for payment or investment purposes. Virtual Assets do not include digital representations of securities and other financial assets.
## 2. The Service
2.1. **The Service**. The primary purpose of the Service is to enable users to interact with the SwayLend Smart Contracts via the Interface (the “Service”).
2.2. **Gas Charges**. The Service involves the use of various blockchain networks, which may require that you pay a fee, commonly known as “Gas Charges,” for the computational resources required to perform a transaction on the Applicable Network. You acknowledge and agree that SwayLend has no control over: (a) any Applicable Network transactions; (b) the method of payment of any Gas Charges; or (c) any actual payments of Gas Charges. Accordingly, You must ensure that you have a sufficient balance of Applicable Network Tokens stored in your Wallet Address to complete any transaction on the Applicable Network before initiating such Applicable Network transaction. We will make reasonable efforts to notify you of any Gas Charges before initiating any Service that requires the use of the Applicable Network.
2.3. **Conditions and Restrictions**. We may, at any time and in our sole discretion, restrict your access to, or otherwise impose conditions or restrictions upon your use of, the Service, with or without prior notice.
2.4. **Your Responsibilities**. As a condition to accessing or using the Service, you shall:
(a) only use the Service for lawful purposes and in accordance with these Terms; \
(b) ensure that, at all times, all information that you provide on the Interface is current, complete and accurate; and \
(c) maintain the security and confidentiality of your Wallet Address.
2.5. **Unacceptable Use or Conduct**. As a condition to accessing or using the Service, you will not:
(a) violate any Applicable Law, including, without limitation, any relevant and applicable anti-money laundering and anti-terrorist financing laws, each as may be amended; \
(b) infringe on or misappropriate any contract, intellectual property or other third-party right, or commit a tort while using the Service;\
(c) use the Service in any manner that could interfere with, disrupt, negatively affect, or inhibit other users from fully enjoying the Service, or that could damage, disable, overburden, or impair the functioning of the Service in any manner;\
(d) attempt to circumvent any content filtering techniques or security measures that SwayLend employs on the Protocol, or attempt to access any service or area of the Protocol that you are not authorized to access;\
(e) use the Service to pay for, support, or otherwise engage in any illegal gambling activities, fraud, money-laundering, or terrorist activities, or other illegal activities;\
(f) use any robot, spider, crawler, scraper, or other automated means or interface not provided by us, to access the Protocol or to extract data;\
(g) introduce any malware, virus, Trojan horse, worm, logic bomb, drop-dead device, backdoor, shutdown mechanism or other harmful material into the Protocol;\
(h) provide false, inaccurate, or misleading information;\
(i) post content or communications on the Interface that are, in our sole discretion, libelous, defamatory, profane, obscene, pornographic, sexually explicit, indecent, lewd, vulgar, suggestive, harassing, hateful, threatening, offensive, discriminatory, bigoted, abusive, inflammatory, fraudulent, deceptive or otherwise objectionable;\
(j) post content on the Interface containing unsolicited promotions, political campaigning, or commercial messages or any chain messages or user content designed to deceive or trick the user of the Service;\
(k) use the Protocol from a jurisdiction that we have, in our sole discretion, or a relevant Governmental Authority has determined is a jurisdiction where the use of the Protocol or Service is prohibited; \
(l) utilize Virtual Private Networks (“**VPNs**”) or any other tools or technologies designed to conceal or alter their your geographic location, IP address, or identity when accessing, interacting with, or conducting transactions on the Protocol; or\
(m) encourage or induce any third party to engage in any of the activities prohibited under this Section 2.5.
2.6. **Your Content**. You hereby grant to us a royalty-free, fully paid-up, sublicensable, transferable, perpetual, irrevocable, non-exclusive, worldwide license to use, copy, modify, create derivative works of, display, perform, publish and distribute, in any form, medium or manner, any content that is available via the Protocol and results of your use of the Service (collectively, “**Your Content**”), including, without limitation, for promoting SwayLend (or its Affiliates), the Service. You represent and warrant that: (a) you own your Content or have the right to grant the rights and licenses in these Terms; and (b) your Content and our use of your Content, as licensed herein, does not and will not violate, misappropriate or infringe on any third party’s rights.
## 3. No Fiduciary Duties
3.1. This Agreement is not intended to, and does not, create or impose any fiduciary duties on us. To the fullest extent permitted by law, you acknowledge and agree that we owe no fiduciary duties or liabilities to you or any other party, and that to the extent any such duties or liabilities may exist at law or in equity, those duties and liabilities are hereby irrevocably disclaimed, waived, and eliminated. You further agree that the only duties and obligations that we owe you are those set out expressly in this Agreement. Neither our communications nor any information that we provide to you is intended as, or shall be considered or construed as, financial and / or investment advice.
3.2. The Company is not a party to any transaction on the blockchain networks underlying the Service; we do not have possession, custody or control over any Virtual Assets appearing on the Service; and we do not have possession, custody, or control over any user’s Virtual Assets. You understand that when you interact with the SwayLend Smart Contracts, you retain control over your Virtual Assets at all times. The private key associated with the wallet address from which you transfer Virtual Assets or the private key associated is the only private key that can control the Virtual Assets you transfer into the smart contracts. You alone are responsible for securing your private keys. We do not have access to your private keys. Due to the non-custodial and decentralized nature of the technology, you acknowledge and agree that we are not intermediaries, brokers, agents, advisors, or custodians.
## 4. SwayLend Website Terms
4.1. The access and use of (the “**SwayLend Website**”) is subject to the separate terms of the SwayLend Website. You further acknowledge that you have carefully read and have accepted the Terms of Use located on the SwayLend Website (the “**SwayLend Website Terms**”) because the SwayLend Website Terms govern your use of the SwayLend Website. If there is a conflict between the SwayLend Website Terms and these Terms with respect to the Service, these Terms shall prevail.
4.2. As a condition of using the SwayLend Website, and any time you provide your information (including personal information (also known as personally identifiable information or personal data) to Company or that Company collects from you when using the SwayLend Website, if and when applicable (including information collected automatically by the use of cookies or other similar technologies), you agree to the collection, use, storage, sharing (i.e., by way of example only, with Company, its affiliates, and with third-party partners, service providers, etc.), transfer, and processing of your information by Company for the purposes of providing the SwayLend Website and the services available therein, to administer the Service, and to comply with applicable laws, rules, and regulations.
## 5. Proprietary Rights
5.1. **Ownership of Service; License to the Service**. Excluding any third-party software that the Protocol or Service incorporate, as between you and SwayLend, SwayLend owns the Protocol, including all technology, content, and other materials used, displayed or provided on the Interface or in connection with the Protocol (including all intellectual property rights subsisting therein). Provided that you are eligible, SwayLend hereby grants you a single, personal, limited license to access and use the Protocol. This license is non-exclusive, non-transferable, and freely revocable by SwayLend at any time without notice or cause. Use of the Interface, Protocol, Service or their contents for any purpose not expressly permitted by this Agreement is strictly prohibited.
5.2. **Trademarks**. Any of SwayLend’s product or service names, logos, and other marks used in the Protocol or as a part of the Service, including SwayLend's name and logo are trademarks owned by SwayLend, its Affiliates or its applicable licensors. You may not copy, imitate or use them without SwayLend’s (or the applicable licensor’s) prior written consent.
## 6. Changes, Suspension, Termination
6.1. **Changes to Service**. We may, at our sole discretion, from time to time and with or without prior notice to you, modify, suspend or disable, temporarily or permanently, the Service, in whole or in part, for any reason whatsoever, including, but not limited to, as a result of a security incident.
6.2. **No Liability**. We will not be liable for any losses suffered by you resulting from any modification to the Service or from any suspension or termination, for any reason, of your access to all or any portion of the Protocol or the Service.
6.3. **Survival**. The following sections will survive any termination of your access to the Protocol or the Service, regardless of the reasons for its expiration or termination, in addition to any other provision which by law or by its nature should survive: Sections 3, 5, 7, 9, 12, 13 and 14.
## 7. Assumption of Risk
By accessing and using the Service, you represent that you understand the inherent risks associated with using cryptographic and blockchain-based systems, and that you have a working knowledge of the usage and intricacies of Virtual Assets. You further understand that the markets for these Virtual Assets are highly volatile due to factors including (but not limited to) adoption, speculation, technology, security, and regulation. You acknowledge that the cost and speed of transacting with cryptographic and blockchain-based systems such as the Applicable Network are variable and may increase dramatically at any time. You further acknowledge the risk that your Virtual Assets may lose some or all of their value while they are supplied to the Service. Use of the Protocol involves the use of the Applicable Network, which may require that you pay Gas Charges, as described Section 2.2. above. You acknowledge and agree that we have no control over: (a) any Applicable Network transactions; (b) the method of payment of any Gas Charges; or (c) any actual payments of Gas Charges. Accordingly, you must ensure that you have a sufficient balance of Applicable Network Tokens stored at your Wallet Address to complete any transaction on the Applicable Network before initiating such Applicable Network transaction. You represent and warrant that you have the knowledge, experience, understanding, professional advice and information to make your own evaluation of the merits, risks and applicable compliance requirements under Applicable Law of engaging in transactions through the Service. You acknowledge and understand that the Protocol allocates your Virtual Assets to third-party decentralized web protocols for various purposes and that we are not responsible or liable for these transactions or the operation of these third-party protocols. You further acknowledge that we are not responsible for any of these variables or risks and cannot be held liable for any resulting losses that you experience while accessing or using the Protocol or the Service. You further acknowledge that you are solely responsible for determining whether any transaction placed through the Protocol, is appropriate, suitable, adapted to your financial situation, personal objectives, financial circumstances, and risk tolerance. You should consult a legal, financial or tax professional regarding your specific situation before engaging in any transaction through the Protocol . We are not responsible for the operation of the Protocol or any underlying Smart Contracts which the Protocol links to, and we make no guarantee of their functionality, security, or availability. Accordingly, you understand and agree to assume full responsibility for all of the risks of accessing and using the Service and interacting with the Protocol.
## 8. Third-Party Resources and Promotions
The Protocol may contain references or links to third-party resources, including (but not limited to) information, materials, products, or services, that we do not own or control. In addition, third parties may offer promotions related to your access and use of the Protocol or Service. We do not endorse or assume any responsibility for any such resources or promotions. If you access any such resources or participate in any such promotions, you do so at your own risk, and you understand that this Agreement does not apply to your dealings or relationships with any third parties. You expressly relieve us of any and all liability arising from your use of any such resources or participation in any such promotions. You acknowledge that the Service links to certain open-source components and that your use of the Protocol and the Service is subject to, and you will comply with any, applicable open-source licenses that govern any such open-source components (collectively, “**Open-Source Licenses**”). Without limiting the generality of the foregoing, you may not: (a) resell, lease, lend, share, distribute or otherwise permit any third party to use the Protocol; (b) use the Protocol for time-sharing or service bureau purposes; or (c) otherwise use the Protocol or Service in a manner that violates any license hereunder.
## 9. Indemnification
You will defend, indemnify, and hold harmless us, our Affiliates, and our and our Affiliates’ respective shareholders, members, directors, officers, employees, attorneys, agents, representatives, suppliers and contractors (collectively, “Indemnified Parties”) from any claim, demand, lawsuit, action, proceeding, investigation, liability, damage, loss, cost or expense, including without limitation reasonable attorneys’ fees, arising out of or relating to (a) your use of, or conduct in connection with, the Service; (b) Applicable Network assets associated with your Wallet Address; (c) any feedback or user content you provide to the Protocol, if any; (d) your violation of these Terms; or (e) your infringement or misappropriation of the rights of any other person or entity. If you are obligated to indemnify any Indemnified Party, SwayLend (or, at its discretion, the applicable Indemnified Party) will have the right, in its sole discretion, to control any action or proceeding and to determine whether SwayLend wishes to settle, and if so, on what terms.
## 10. Disclosures, Disclaimers
SwayLend is a developer of software. SwayLend does not operate a Virtual Asset or derivatives exchange platform or offer trade execution, custody or clearing services and therefore has no oversight, involvement, or control with respect to your transactions. All transactions between users of the Protocol are executed peer-to-peer directly between the users’ virtual wallets through a Smart Contract. As a user of SwayLend, you declare that you are not a citizen or resident of any jurisdiction in which either the use of the Service, exchange, purchase, receipt, or holding of any Virtual Assets is prohibited, restricted, curtailed, hindered, impaired or otherwise adversely affected by any Applicable Laws;
## 11. No Warranties
The Service is provided on an “AS IS” and “AS AVAILABLE” basis. To the fullest extent permitted by law, we disclaim any representations and warranties of any kind, whether express, implied, or statutory, including (but not limited to) the warranties of merchantability and fitness for a particular purpose. You acknowledge and agree that your use of the Protocol or Service is at your own risk. We do not represent or warrant that access to the Protocol or Service will be continuous, uninterrupted, timely, or secure; that the information contained in the Protocol or Service will be accurate, reliable, complete, or current; or that the Protocol or Service will be free from errors, defects, viruses, or other harmful elements. No advice, information, or statement that we make should be treated as creating any warranty concerning the Protocol or Service. We do not endorse, guarantee, or assume responsibility for any advertisements, offers, or statements made by third parties concerning the Protocol or Service.
## 12. Taxes
You are responsible for your taxes and duties. Users bear sole responsibility for paying any and all taxes, duties, and assessments now or hereafter claimed or imposed by any governmental authority associated with their use of the Service, and/or payable as the result of using and/or exploiting any Virtual Assets and interacting with smart contracts. Blockchain-based transactions are novel, and their tax treatment may be uncertain in your place of residence.
## 13. Exclusion of consequential and related damages
In no event shall we (together with our Affiliates, including our and our Affiliates’ respective shareholders, members, directors, officers, employees, attorneys, agents, representatives, suppliers or contractors) be liable for any incidental, indirect, special, punitive, consequential or similar damages or liabilities whatsoever (including, without limitation, damages for loss of data, information, revenue, goodwill, profits or other business or financial benefit) arising out of or in connection with the Protocol or the Service (and any of their content and functionality), any execution or settlement of a transaction, any performance or non-performance of the Service, your Applicable Network Token, or any other product, service or other item provided by or on behalf of us, whether under contract, tort (including negligence), civil liability, statute, strict liability, breach of warranties, or under any other theory of liability, and whether or not we have been advised of, knew of or should have known of the possibility of such damages and notwithstanding any failure of the essential purpose of these Terms or any limited remedy hereunder nor is SwayLend in any way responsible for the execution or settlement of transactions between users of SwayLend software.
## 14. Limitation of Liability
In no event shall we (together with our Affiliates, including our and our Affiliates’ respective shareholders, members, directors, officers, employees, attorneys, agents, representatives, suppliers or contractors) be liable for any incidental, indirect, special, punitive, consequential or similar damages or liabilities whatsoever (including, without limitation, damages for loss of data, information, revenue, goodwill, profits or other business or financial benefit) arising out of or in connection with the Protocol and the Service (and any of their content and functionality), any execution or settlement of a transaction, any performance or non-performance of the Service, your Applicable Network Token, or any other product, service or other item provided by or on behalf of us, whether under contract, tort (including negligence), civil liability, statute, strict liability, breach of warranties, or under any other theory of liability, and whether or not we have been advised of, knew of or should have known of the possibility of such damages and notwithstanding any failure of the essential purpose of these Terms or any limited remedy hereunder nor is SwayLend in any way responsible for the execution or settlement of transactions between users of SwayLend software.
## 15. Amendments of these Terms
We reserve the right, in our sole discretion, to amend these Terms at any time, as the Company deems necessary or desirable. If we make any material changes restricting or affecting in any way your rights, we will provide you with notice of such changes, such as by sending an email, providing a notice through our Service or updating the date at the top of these Terms. Unless we say otherwise in our notice, any and all such modifications are effective immediately, and your continued use of our Service after we provide such notice will confirm your acceptance of the changes. If you do not agree to the amended Terms, you must stop using our Service following the date on which such amended Terms are published.
## 16. Termination and Cancellation
This Agreement is effective unless and until terminated by either you or us. You may terminate your Agreement with us at any time by ceasing all access to the Protocol or the Service. If, in our sole judgment, you fail, or we suspect that you have failed, to comply with any term or provision of the Agreement (including without limitation any provision of these Terms), we reserve the right to terminate our Agreement with you and deny you access to the Service. We further reserve the right to restrict your access to the Protocol or to stop providing you with all or a part of the Service at any time and for no reason, including, without limitation, if we reasonably believe: (a) your use of the Service exposes us to risk or liability; (b) you are using the Service for unlawful purposes; or (c) it is not commercially viable to continue providing you with our Service. All of these are in addition to any other rights and remedies that may be available to us, whether in equity or at law, all of which we expressly reserve.
WE RESERVE THE RIGHT TO MODIFY THE SERVICE AT ANY TIME, BUT WE HAVE NO OBLIGATION TO UPDATE THE SERVICE. YOU AGREE THAT IT IS YOUR RESPONSIBILITY TO MONITOR CHANGES TO THE SERVICE THAT MAY AFFECT YOU. YOU AGREE THAT WE MAY REMOVE THE SERVICE AND/OR ANY CONTENT THEREON FOR INDEFINITE PERIODS OF TIME OR CANCEL THE SERVICE AT ANY TIME, WITHOUT NOTICE TO YOU.
## 17. Severability
If any provision of the Agreement (including, without limitation, these Terms) is determined to be unlawful, void, or unenforceable, such provision shall nonetheless be enforceable to the fullest extent permitted by applicable law, and the unenforceable portion shall be deemed to be severed from the Agreement. Such determination shall not affect the validity and enforceability of any other remaining provisions.
## 18. Assignment
The Agreement (including, without limitation, these Terms) may be assigned without your prior consent to any Company Affiliate, or to its successors in the interest of any business associated with the Service provided by us. You may not assign or transfer any rights or obligations under the Agreement without our prior written consent.
## 19. Entire Agreement
The Agreement (including, without limitation, these Terms, and the SwayLend Website Terms) and any policies or operating rules posted by us on the Service constitute the entire agreement and understanding between you and us and govern your use of the Service, superseding any prior or contemporaneous agreements, communications, and proposals, whether oral or written, between you and us (including, but not limited to, any prior versions of these Terms). Any failure by us to exercise or enforce any right or provision of the Agreement (including, without limitation, these Terms) shall not constitute a waiver of such right or provision.
## 20. Governing Law and Dispute Resolution
20.1. **Governing Law**. These Terms shall be governed by, and construed in accordance with, the laws of England and Wales.
20.2. **Dispute Resolution**. Any dispute arising out of or in connection with these Terms, including any question regarding its existence, validity or termination, shall be referred to and finally be resolved by the competent courts in London, England.
## 21. Electronic Notices
You consent to receive all communications, agreements, documents, receipts, notices, and disclosures electronically (collectively, our “Communications”) that we provide in connection with these Terms or any Service. You agree that we may provide our Communications to you by posting them on the Interface or by emailing them to you at the email address you provide in connection with using the Service, if any. You should maintain copies of our Communications by printing a paper copy or saving an electronic copy. You may also contact our support team to request additional electronic copies of our Communications by filing a support request at
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# Swaylend Website Terms of Use
*Disclaimer: The information contained in or provided from or through this website is not intended to be and does not constitute financial advice, trading advice, or any other type of advice.*
**PREAMBLE **
The present Terms of Use (the “**Terms**”) govern your use of (the “Website”) and the services offered on or through the Website (the “**Services**”). The Website is owned and operated by Reserve Labs Ltd. (“**Company**”, “**We**” or “**Us**”). The Website is available directly at and may also be available through other addresses or channels.
**1. DEFINITIONS**
“**Intellectual property rights**” shall mean copyrights, patents, registered designs, design rights, database rights, trademarks, trade secrets, know-how or any other proprietary or industrial right, whether registered or unregistered;
“**Third-Party/Third-Parties**” shall mean any other natural who is not a User or a Visitor;
“**User**” shall mean a person which has made use of the Services available on the Website.
“**Visitor**” shall mean a person or entity visiting the Website without having used the Services.
**2. GENERAL**
The Website aims to describe the Services provided by the Company. The Website also allows the Company to promote its Services. Therefore, the contents of other websites may accessible from hyperlinks on the Website.
**3. TERMS**
By browsing the Website, you acknowledge that you have read and understood these Terms and agree to be bound by them and to comply with these Terms and all applicable laws and regulations. If you do not agree with these Terms, you should refrain from using the Website.
If you are browsing the Website on behalf of a business or other entity, you represent and warrant that you have the necessary authority to bind that business or entity to these Terms and that you are agreeing to these Terms on behalf of that business or entity.
**4. MODIFICATION**
The Company reserves the right to make any changes to these Terms, at its sole discretion. Your continued use of the Website after any such changes, with or without having explicitly accepted the new Terms, shall constitute your consent to such changes.
If you do not agree to such changes, you have no right to obtain information or access to the Website and must immediately cease use of it. You are responsible for verifying regularly these Terms in their current and in effect version from time to time, an up-to-date version of which may be retrieved at any time on the Website.
**5. THE WEBSITE**
The Website is provided to you on an “as is” basis, without warranties of any kind, either expressed or implied.
The Company grants you a limited, non-exclusive, non-transferable, non-sublicensable and revocable license to use the Website and its content for your personal, non-commercial use, and to display the content of the Website exclusively on your computer screen or on other devices (such as smartphones or tablets), subject to your compliance with these Terms and our policies.
All other uses are prohibited without the Company’s prior written consent. Except as otherwise agreed upon, if the Company enables the use of software, content, virtual items or other materials owned or licensed by the Company (hereinafter: the “Software and Content”), the Company hereby grants you a non-exclusive, non-transferable, non-sublicensable and revocable worldwide license to access and use the Software and Content solely for personal and non-commercial purposes, conditioned on your compliance with these Terms. Any unauthorised use of the Software and Content is strictly prohibited and will terminate the license granted in these Terms. No licenses or rights are granted to you by implication or otherwise, except for the licenses and rights expressly granted to you.
If you provide us with any feedback or comments regarding the Website, you grant the Company the right to use such feedback or comments for any purpose without restriction or payment to you.
**6. COMPANY’S ROLE**
The Website does not constitute and should not be seen as a recommendation or endorsement of the quality, healthiness, service level, qualification or rating of the Services contained in it. In particular, the Website is not deemed to provide (and must not be held as such) any advice relating to your decision whether or not to use our Services by becoming a User and must not be considered as providing complete information in relation to such a decision. The Website only aims to promote the Services provided on it.
Please note that we make no promises or warranties whatsoever of possible gains or returns, in cash or in any other form. You can potentially lose all your contribution. The Company also does not guarantee in any way the success or full execution of its projects.
**7. PROHIBITED ACTIONS**
You are entitled to use the Website only in conformity with the laws of your country of residence and of the country from which you access this Website. You may solely make a legal use of this website and any illegal or inappropriate use of the Website is banned. In particular, you agree to browse the Website lawfully and without any violation of these Terms or any applicable law and agree not to do any of the following actions in connection with your use of the Website:
a) access or use the Website in any manner that could interfere with, disrupt, negatively affect or inhibit anyone from fully enjoying the Website, including, but not limited to, defamatory, harassing, threatening, bigoted, hateful, vulgar, obscene, pornographic, or otherwise offensive behaviour or content;
b) access or use the Website for any illegal or unauthorized purpose or engage in, encourage, or promote any illegal activity, or any activity that violates these Terms or any other terms or policies provided in connection with the Website;
c) intimidate or harass any person or entity, or falsely state or otherwise misrepresent you or your affiliation with any person or entity;
d) damage, disable, overburden or impair the functionality of the Website in any manner;
e) distribute or post spam, unsolicited or bulk electronic communications, advertising, solicitations, promotional materials, chain letters, or pyramid schemes;
f) upload, post, transmit, distribute or otherwise make available any material that contains software viruses, malwares, ransomwares or spywares or any other computer code, files or programs designed to interrupt, destroy or limit the functionality of any computer software or hardware, mobile devices or telecommunications equipment or any other technologies that may harm the Website or the interests or property of the Visitors or of the Company;
g) export or re-export any applications, code or tools developed by and proprietary to the Company except as in strict compliance with the export control laws of any relevant jurisdictions and in accordance with posted rules and restrictions;
h) use any robot, spider, crawler, scraper or other automated means or interface not provided or authorized by us to access the Website or to extract data or information from the Website;
i) commercialize any application, code or any information or software associated with such application and/or the Website without the prior consent of the Company;
j) upload, post, transmit, distribute, store or otherwise make publicly available on the Website any personal data of Users, of Visitors or of any Third-party without the person’s prior explicit consent;
k) harvest or otherwise collect information or data about Visitors or Users without their consent or use automated scripts to collect information from or otherwise interact with the Website;
l) upload, post, transmit, distribute, store or otherwise make available content that, in the sole judgment of the Company, is objectionable, misleading or which restricts or inhibits any other person from using the Website, or which may expose the Company or its Visitors to any harm or liability of any type;
m) upload, post, transmit, distribute, store or otherwise make available content that would constitute, encourage or provide instructions for a criminal offense;
n) copy, modify, distribute, sell, or lease any part of the Website;
o) reverse engineer or attempt to extract the source code of the Website;
p) interfere or attempt to disrupt the Website in any way;
q) circumvent or attempt to circumvent any filtering, security measures or other features designed to protect the Website, or third parties; and
r) infringe upon or violate the rights of the Company, the Visitors, the Users or any Third-party;
s) facilitate or assist another person to do any of the above acts.
**8. INTELLECTUAL PROPERTY RIGHTS**
Intellectual property rights and all other proprietary rights in relation to the content available on the Website (including but not limited to software, mobile software, algorithms, codes, audio, video, text, animations, files, photographs designs, graphics, layouts, images, video, information and their selection and arrangement) (hereinafter: the “Website Content”) are the exclusive property of the Company or its licensors. Our rights to the Website Content include rights to (i) the Website; and (ii) all designs, layouts, software, displayed and technical information associated with Website. All Intellectual property rights in the Website Content not expressly granted herein are reserved to the Company. All copyright and other proprietary notices shall be retained on all reproductions.
Any other use of the Website Content, including without limitation distribution, reproduction, modification, making available, communicating to the public, publicly performing, downloading, displaying or transmitting, in whole or in part, without the prior written consent of the Company is strictly prohibited.
The Company and its licensors own and shall retain all Intellectual property rights and other rights in and to the Software, and any changes, modifications or corrections thereto, subject to open source software used in relation to the Website.
The Company, together with its licensors expressly reserve all Intellectual property rights in all text, programs, products, processes, technology, content, source code, object codes, layouts, and other materials, which appear on the Website. Access to the Website does not confer and shall not be considered as conferring upon anyone any license under any of our or any third party's intellectual property rights. Any use of the Website including copying or storing it in whole or part, other than for your own personal, non-commercial use, is prohibited without prior consent of the Company.
**9. TRADEMARKS**
Company’s names and logos and all related product and service names, design marks and slogans are the trademarks or service marks of the Company or its licensors. No trademark or service mark license is granted in connection with the materials contained on the Website. Access to the Website does not authorize anyone to use any name, logo or mark in any manner whatsoever.
**10. RESERVATION OF RIGHTS**
The Company may block, terminate or suspend your ability to use or access the Website, in whole or in part, without notice and at all time, at the sole discretion of the Company, as well as close or interrupt the Website. The Company reserves the right to terminate your right to access and use the Website if you violate these Terms or any other terms, laws or policies referenced herein, or if you otherwise create risk or possible legal exposure for the Company.
The Company reserves the right to initiate legal proceedings against any person for fraudulent use of the Website and any other unlawful acts or acts or omissions in breach of these Terms.
**11. AVAILABILITY**
The Website and content may not be available in all territories and jurisdictions, and we may restrict or prohibit the use of all or a portion of the Website and content in certain territories and jurisdictions.
**12. NETWORK COSTS**
You may be charged by your network provider for data services or any other third-party charges as may arise while using the Website and you accept responsibility for such charges. If you are not the bill payer, we will assume that you have received permission from the bill payer.
**13. DOWNTIME**
Since the Website is web-based, it might be subject to temporary downtime.
From time to time we also update or maintain the Website, which will result in the Website not being available for a certain period of time. We do not warrant that the Website operates uninterrupted or error-free.
We are not responsible for any damages or losses suffered by you as a result of any failure or interruption of the Website or suspension of your access to the Website.
**14. DISCLAIMERS**
You expressly acknowledge and agree that your access to and use of the Website is at your sole risk. As between you and the Company, to the maximum extent permitted by applicable law, the Website is provided on an “as is” and “as available” and “under development” basis and the Company expressly disclaims all representations, warranties and conditions (express or implied, oral or written), including any implied warranty of merchantability, fitness for a particular purpose and non-infringement. All content available on the Website, including the Company’s white-paper, are made available for informational purposes only and should not be contractual or binding in any way for the Company. You should not rely upon this content in any way. The Company does not give any warranty in relation to the Website, the software and content nor with any Services, information published or available on the Website, should it be its availability, accuracy or lawfulness. The Company shall not verify, update or correct such information. The Company does not warrant that the Website will be available at all times and expressly reserves the possibility to discontinue the Website without notice. In addition, the Company does not represent or warrant that (a) the operation of the Website will be secure, uninterrupted, error-free or virus-free, or (b) any defects in the Website will be corrected. no oral or written information, guidelines or advice given by the Company will create a warranty. The foregoing disclaimer of warranties will apply to the maximum extent permitted by applicable law.
The laws of some states or jurisdictions do not allow the disclaimer of implied warranties, so some or all of the disclaimers in this section may not apply to you. You agree that the entire risk arising out of your use of the Website remains solely with you. You agree that neither the Company nor its affiliates is/are responsible for the fitness or conduct of any visitor and/or user. Neither the Company nor its affiliates will be liable for any claim, injury or damage arising in connection with the acts or omissions of any visitor and/or user.
Any warranty, condition or other term arising out of or in connection with the Website which might otherwise be implied into or incorporated into these Terms by statute, common law, laws applicable in the country where you used the Website or otherwise (including without limitation any implied term as to quality, fitness for purpose, reasonable care and skill) is hereby expressly excluded. If you have a dispute with one or more Visitor(s), User(s) and/or Third-part(y/ies), you agree to release the Company (including our affiliates, and each of our respective officers, directors, employees, agents, shareholders, retail partners, licensors, and suppliers) from any claims, demands and damages of every kind and nature, known and unknown, suspected and unsuspected, disclosed and undisclosed, arising out of or in any way connected to such disputes.
**15. LIMITATIONS OF LIABILITY**
These Terms set out the full extent of our obligations and liabilities with respect to the Website. To the maximum extent possible by law, the Company excludes all and any warranty, guaranty and responsibility in relation to or subsequent to the Website and its content. the Company shall in particular not be liable for any damages of any kind, including loss of income or data, suffered by the visitor, the user or any other person, by act of the Company or of a third party. This includes any misuse that would be made of the visitor’s and/or user’s data, any virus or other forms of malware transmitted through the Website or the server, as well as any non-compliance of users and/or visitors with these Terms. The Company shall have no liability for any personal injury, lost profits or other consequential, special, punitive, indirect, or incidental damages, arising from or related to your use or inability to use the Website. Notwithstanding anything to the contrary in these Terms, nothing in these Terms excludes or limits our liability for fraud or for death or personal injury caused by our negligence. The foregoing disclaimer of certain damages and limitation of liability will apply to the maximum extent permitted by applicable law.
**16. FORCE MAJEURE**
The Company cannot accept responsibility for any damage, loss, delay, or inconvenience caused by circumstances beyond our reasonable control. Such circumstances include but are not limited to war, threat of war, riots, civil strife, or terrorist activity, industrial disputes, natural or nuclear disasters, fire, airport closures, bad weather conditions, interruption or failure of a utility service or the acts of any local or national government.
**17. INDEMNIFICATION**
You agree to defend, indemnify and hold harmless the Company and its affiliates, independent contractors and service providers, and each of its respective directors, officers, employees and agents from and against all Third-party claims, damages, costs, liabilities and expenses (including, but not limited to, court and attorneys’ fees) caused by, arising out of or related to (a) your use of, or inability to use, the Website; (b) your violation of these Terms or any other applicable terms, policies, warnings, warranties, or instructions provided by the Company or a Third-party in relation to the Website; (c) your violation of any applicable law or any rights of any Third-party.
**18. LINKS**
The Website may contain links which direct you to Third-party websites. The Company rejects any liability on said Third-party websites, which are solely provided in the Users’ and Visitors’ interest.
The Company has no influence on the content of Third-party websites. The Company therefore cannot assume any guarantee for the accuracy, completeness or safety of this Third-party content.
**19. ENTIRE AGREEMENT & SEVERABILITY**
These Terms, subject to any amendments or modifications made by the Company from time to time, shall constitute the entire agreement between you and the Company with respect to the use of the Website. If any provision of these Terms is found to be invalid by a court or competent jurisdiction, that provision only will be limited to the minimum extent necessary and the remaining provisions will remain in full force and effect.
**20. NO WAIVER**
The Company’s failure to enforce a provision of these Terms does not constitute a waiver of its right to do so in the future with respect to that provision, any other provision, or these Terms as a whole.
**21. ASSIGNMENT**
You may not assign any of your rights, licenses, or obligations under these Terms without the Company’s prior written consent. Any such attempt at assignment by you shall be void. The Company may assign its rights, licenses, and obligations under these Terms without limitation and without prior consent.
**22. MODIFICATION OF THE WEBSITE**
The Company reserves the right to change, suspend, remove, discontinue or disable access to the Website or particular portions thereof, at any time and without notice. In no event will The Company be liable for the removal of or disabling of access to any portion or feature of the Website.
**23. GOVERNING LAW AND JURISDICTION**
These Terms and your use of the Website, as well as all matters arising out of or in relation to them (including non-contractual disputes or claims and their interpretation), shall be governed by the laws of England and Wales, with the exclusion of conflicts of laws rules. Any claim or dispute regarding these Terms or in relation to them shall (including for non-contractual disputes or claims and their interpretation) be subject to the exclusive jurisdiction of the competent courts of London, England.
You agree that any dispute is personal to you and the Company, and that any dispute shall only be resolved by an individual litigation and shall not be brought as a class action, or any other representative proceeding. You agree that a dispute cannot be brought as a class or representative action or on behalf of any other person or persons.
In case of dispute, you shall maintain the confidentiality of any proceedings, including but not limited to, any and all information gathered, prepared, and presented for purposes of the litigation or related to the dispute(s) therein.
**24. CONTACT**
If you wish to contact us please do so at the following e-mail address:
# FAQs
What is Swaylend?
Swaylend is a decentralized lending platform built on the Fuel Network. It allows users to supply or borrow base assets, earning or paying interest based on their position.
What is a Base Asset?
The platform is structured around base asset markets, allowing users to **supply base asset and earn interest or borrow base asset and pay interest**. For example, in the USDC market, USDC functions as the base asset that users can either borrow or supply.
Can I borrow and supply the same base asset?
Users can only maintain one active position per market, either as a borrower or a lender.
How is the borrow limit determined?
The borrowing limit is calculated based on the collateral you supply and its risk factor within the market.
Are there any fees for supplying or borrowing?
No, Swaylend does not charge fees directly for supplying or borrowing, but you will incur gas fees when interacting with the platform.
What is the minimal amount I can borrow?
The minimal amount you can borrow must be above $10
Why am I not able to repay my debt?
Failure to repay your debt can occur for two main reasons:
1. You don’t have enough of the borrowed asset in your wallet to cover the outstanding debt
2. Partial repayments may leave you with a borrowing balance of less than $10, which is not allowed on Swaylend. To fully close your borrowing position, ensure that you repay the exact amount borrowed.
What is Borrow APY?
Borrow APY is the interest rate borrowers pay over a year for taking out loans. It reflects the cost of borrowing assets on the platform, typically fluctuating based on the demand and supply of the asset. Borrowers are charged this APY, which is calculated and compounded periodically.
What is Supply APY?
Supply APY is the interest rate earned by users who deposit assets into the protocol as liquidity. It reflects the yield suppliers receive over a year, from borrowers who pay interest on their loans. The APY fluctuates based on demand for the asset, and the interest is compounded periodically.
Is there APY for supplied Collateral?
Users do not earn interest on the collateral they supply.
How is Collateral handled?
Collateral is required for borrowing and is subject to liquidation if a position’s liquidation ratio is exceeded.
What are the main risks associated with being a Lender?
Swaylend has taken all necessary measures to minimize risks for lenders, though some risks are inherent to the system:
* **Vulnerabilities in the protocol’s code** could be exploited, leading to loss of funds
* If there **isn’t enough liquidity when a lender wants to withdraw**, they may face delays or be unable to withdraw their assets
* If borrowers’ collateral drops significantly in value, it **may not fully cover their debt**, potentially resulting in losses for lenders
* **Fluctuating interest rates** can impact the return on supplied assets
* **Changes in asset prices** can affect both collateral value and liquidity within the protocol
What are the main risks associated with being a Borrower?
Swaylend has taken all necessary measures to minimize risks for borrowers, though some risks are inherent to the system:
* If the value of the collateral drops below a certain threshold, it **may be liquidated** to repay the loan, leading to a loss of assets
* **Borrowing costs can increase** if the protocol’s interest rates rise, making the loan more expensive to maintain
* **Vulnerabilities in the protocol’s code** could lead to loss of collateral or funds
* **Sudden price** drops in the collateral or price **increases** in borrowed assets can negatively impact the borrower’s position
Why does Swaylend have supply caps on collateral assets?
Caps limit exposure to certain assets, preventing excessive borrowing against volatile or low-liquidity tokens. This helps ensure the protocol remains solvent, even during large price swings or market manipulation. As the Fuel ecosystem matures and liquidity grows, we will gradually increase the supply cap.
Why can't I borrow up to 100% of collateral value?
Users can’t borrow against 100% of their collateral in lending protocols to **manage risk and ensure the protocol remains solvent.**
A typical limit, such as 80%, is set to provide a buffer in case the value of the collateral decreases. This helps prevent liquidation when market prices fluctuate and ensures enough collateral to cover the borrowed amount, protecting the borrower and the protocol from insolvency risks.
## Fuel Points
Do I earn Fuel Points by using Swaylend?
Yes, by using Swaylend, users automatically collect Fuel points. The allocation of points for your actions is entirely determined by Fuel’s guidelines. For more details on how points are earned, visit .
I have questions about earning Fuel Points or checking my Fuel Points balance
For support with Fuel Points, please reach out to the [Fuel Discord community](https://discord.com/invite/xfpK4Pe), as Swaylend has no ownership or control over the Fuel Points Program. They can provide accurate information and answer any Fuel Points management and tracking questions.
{% hint style="warning" %}
Can’t find the answer you’re looking for? Join our [Discord](https://discord.gg/XzAeKsw86h) and open a support ticket—we’re here to help!
{% endhint %}
# Smart Contract Audit
Safety first!
The audit of smart contracts is crucial because it helps identify and rectify vulnerabilities or bugs that could lead to security breaches, financial losses, or exploitation. An audit ensures the code functions as intended and adheres to best practices, fostering user trust and confidence in the protocol.
\
We have partnered with Halborn Audit Service for the audit of all the smart contracts that have been deployed to the Fuel Network. On September 17th 2024 we have received a final report which successfully concludes the audit and ensures user’s funds are safely protected. You can access and read the full report [here](https://www.halborn.com/audits/reserve/swaylend-protocol).
Additionally Swaylend has gone through the second audit of deployed smart contracts on Fuel network. Ottersec service have inspected the safety and alignment of code environment with the safety guidelines. The report can be accessed [here](https://github.com/Swaylend/swaylend-monorepo/blob/develop/audits/ottersec_audit.pdf).
