Terms of Service
1. Acceptance
By creating an account on Pearl OTC, you agree to these Terms of Service and our Privacy Policy. If you do not agree, do not use the platform.
2. Eligibility
You must be at least 18 years old and legally able to enter into binding agreements in your jurisdiction. Pearl OTC is not available in jurisdictions where cryptocurrency trading is prohibited.
3. Account
You are responsible for maintaining the security of your account credentials, wallet private keys, and passkeys. Pearl OTC cannot recover lost passwords or private keys. You must provide a valid email address and may optionally link social accounts for identity verification.
4. Trading
Pearl OTC facilitates peer-to-peer trades of PRL (Pearl Network) against USDC (Arbitrum) using a non-custodial 2-of-2 multisig escrow. A platform fee of 2% is applied to the PRL leg of each trade. Trades are settled on-chain and are irreversible once the release transaction is broadcast.
5. Escrow
PRL is held in a 2-of-2 Schnorr multisig address requiring signatures from both parties (seller and platform). Pre-signed release transactions ensure the seller (and platform) can only send to the PRL L1 address provided by the buyer upon opening a trade. Pre-signed refund transactions allow the seller to recover funds if the buyer does not pay within the timeout window. The platform does not have unilateral access to escrowed funds.
6. USDC Payments
USDC payments must be sent on Arbitrum to the seller's designated address. The platform verifies the transaction on-chain (recipient address, amount within tolerance, confirmation depth).
7. Prohibited Conduct
You may not: use the platform for money laundering or terrorism financing; create multiple accounts to circumvent restrictions; manipulate prices through wash trading; spam offers; impersonate other users; or attempt to exploit the escrow system.
8. API Usage & Automation
Any interaction with Pearl OTC through its API, scripts, bots, or any automated means is entirely at your own risk. Pearl OTC is not responsible for any losses, errors, or unintended consequences resulting from API usage, automated trading, third-party integrations, or custom scripts. The API is provided without guarantees of availability, accuracy, or fitness for any purpose. Rate limits and access may be revoked at any time without notice.
9. User Interface Warnings
The platform displays warnings, confirmations, and safety prompts throughout the trading process. By dismissing, ignoring, or bypassing any warning displayed in the user interface, you accept full responsibility for any resulting loss. Pearl OTC is not liable for trades executed after a user has ignored or overridden platform warnings, including but not limited to: incorrect addresses, wrong amounts, expired offers, or insufficient confirmations.
10. Moderation
Pearl OTC employs a warning system with escalating consequences. Violations may result in trade restrictions, temporary suspension, or permanent ban. Decisions can be reviewed by contacting support.
11. Limitation of Liability
Pearl OTC is provided "as is" and "as available" without warranty of any kind, express or implied. To the maximum extent permitted by law, we disclaim all liability for:
- Blockchain network failures, delays, or forks
- Smart contract vulnerabilities
- User error including incorrect wallet addresses or lost private keys
- Market volatility and price slippage
- Third-party service failures (RPC nodes, Arbitrum, Pearl Network)
- Data loss or unauthorized access resulting from compromised user credentials
- Any action taken through the API or automated means
- Any loss resulting from ignoring platform warnings or safety prompts
12. Modifications
We may update these terms at any time. Material changes will require re-acceptance before you can continue trading. Your continued use after re-acceptance constitutes agreement to the updated terms.
13. Contact
Questions about these terms? Contact us via Discord.