Sylo App - Terms of Service

Sylo App - Terms of Service  

August 2019

These Terms of Service, which are deemed to include the terms of the current Privacy Policy (accessible here), (together, the ‘Terms’) are a legal agreement between you, the user (‘you’) and Sylo Licensing Limited (‘Sylo’ or ‘us’), and govern your use of the current versions of the Sylo applications, wallets, accounts, communication services and storage services provided by Sylo and its related parties (together, the ‘Services’). Note that separate terms also apply to the Sylo website (accessible here).


Please read these Terms carefully. By using any Services you automatically agree to be legally bound by these Terms as they are updated from time to time. If this is not acceptable to you, please do not use the Services.

Can you use the Services?

You are only permitted to use the Services if you meet all of the following criteria:

  • You reside in a country where you are legally permitted to access the Services in compliance with these Terms.
  • You are at least the minimum age required to provide informed consent according to the laws of your country and, in any event, are over 13 years.
  • You must have the capacity and, in the case of an entity, be authorised to enter into and to be bound by the Terms.
  • If you are using Sylo on behalf of a business, you have authority to bind the business entity to these Terms.

How to access and manage your Sylo account

To use the Services, you need to set up an account. This requires you to provide a name (which can be your legal name, an abbreviated name, a nick-name or an alias) and optionally to generate an avatar. Our system will also generate a secret phrase which is unique to your account . Your unique secret phrase is your password to access your account if you get locked out. You must keep your login credentials and secret phrase confidential. You alone are responsible for your login credentials and for any activity resulting from the use of your login credentials or activity on your account.

Important: We do not keep any record of your secret phrase. Therefore, if you forget or lose it then you will lose access to your account permanently. We strongly recommend you use cold storage for your secret phrase (that is, write it down on paper and hide it in a secret, secure location). You should not share the details of your secret phrase with anyone else. If another person learns your secret phrase, they can access your account and gain control of any funds or digital assets in your Sylo wallets.  

You use the Services at your own risk

You use the Services at your own risk. In particular, you confirm you understand and accept the following risks by using the Services:

  • Sylo has no knowledge or visibility of any content shared or communicated using its Services. We cannot monitor these communications because they are encrypted end-to-end and stored on distributed ledgers. You may be exposed to content that you may find offensive or objectionable. You accept that we have no responsibility for any content shared on the Sylo platform nor for any emotional, financial or other harm you may suffer as a result of receiving or acting on such content.
  • You understand that you are solely responsible for any content you publish, host, share or transfer using the Services and for the consequences of sharing it.
  • We do not stand behind or underwrite any transactions involving digital assets or currency you enter into using the Services.
  • If you forget or lose access to your secret phrase (see above), then you will lose access to your Sylo account and wallets and we cannot recover them for you. Extreme caution must be taken in storing and transmitting your secret phrase. By using any Services, you agree that Sylo will not be liable for any loss or damage arising from unauthorised use of your credentials or from your secret phrase being lost or its confidentiality compromised.
  • We have designed a communications network that is technologically structured to protect the privacy of your communications and personal data. However, we cannot guarantee that unauthorised third parties will never be able to defeat those measures or access your personal data for improper purposes.
  • Sylo and the Sylo Smart Wallet do not conduct any independent diligence on or substantive review of any blockchain asset, digital currency, cryptocurrency or associated assets. You are solely responsible for evaluating the assets you choose to engage with, for determining on your own whether you will exchange blockchain assets and for all your decisions as to whether to exchange blockchain assets within the Sylo Smart Wallet or on the Sylo network


We can change our Services

We are constantly changing and improving our Services. We may add or remove features or functions and we may suspend or stop providing a Service altogether, provided that we will; give you prior notice where possible if this could materially and adversely affect you.

Payment for premium Services

The Services are provided on a “freemium” model. This means that you can use basic Services for free, and can choose to pay for additional premium services as they are introduced over time. We will update these Terms as necessary to cater for those premium services. To access the premium Services you will need to provide your payment method information and pay the applicable fees set in the fee schedule on our website at the relevant time. You authorise us or our third-party payment processors to bill you and deduct such amounts in advance on a one-time or periodic basis as required in accordance with such payment terms.

All amounts paid are non-refundable and we reserve the right to change our prices in the future. Your continued use of the Services after any price change goes into effect constitutes your agreement to pay the changed amount. If you dispute any charges, you must let us know within 60 days after the invoice date by emailing

Prohibited activities

You must not use the Services for any of the following purposes (each a ‘Prohibited Activity’):

  • To conduct or engage in any illegal activity, including (without limitation) money laundering, terrorism or terrorism financing or to hide or disguise the proceeds of any such activity.
  • To infringe our proprietary intellectual property, or the proprietary intellectual property of any other person.
  • To breach any privacy or data protection laws.
  • To breach any laws prohibiting harmful communications, or to send malicious content (i.e. hate speech or abuse) to any person or engage in any deceptive, fraudulent or malicious activity, including by launching malware or viruses, or seeking to hack into any wallets or steal any digital assets or funds held by any other user.
  • To send unsolicited marketing messages or broadcasts (i.e. spam) to any person.
  • To engage in gambling.
  • In relation to any digital asset that the Services do not support at the relevant time.
  • To reverse-engineer, decompile, disable, or disassemble any Services.
  • To harm any person, including Sylo and our related persons.
  • If you do not meet the eligibility criteria set out in these Terms.
  • To offer, or to purport to offer, any Service to any person who is not an eligible user.
  • To engage in any other use or activity which breaches these Terms.


Our rights and remedies

In you engage in any Prohibited Activity, or if we believe in good faith that you are engaging in or have engaged in a Prohibited Activity, or that your actions or inactions create risks for our business or any person connected with our business, we may do some or all of the following:

  • Issue a warning to you.
  • Limit, suspend or cancel your access to any Services.
  • Warn other users of your actions, including by adding your details to a ‘blacklist’ of users which we may publish to other users and/or the authorities.
  • Advise any relevant governmental authorities or regulators and co-operate fully with any law enforcement authorities which may include disclosing any relevant information.

We are also permitted to suspend or restrict the Services if we consider it necessary or desirable to do so as a result of any event of force majeure or underlying network change or where your account has been inactive for a prolonged period.

You indemnify us

You indemnify us and hold us harmless for any loss, cost, liability or expense that we sustain or incur as a result of you breaching these Terms.

If you want to terminate your relationship with us

You can end your legal agreement with us by discontinuing your use of our Services. To deactivate your account and all data associated, you must delete or destroy your secret phrase. Without your secret phrase, no one can access your account.

Our liability is limited

To the fullest extent permitted by applicable law, Sylo and our related companies  and our directors, officers and advisers (together, ‘Sylo Persons’) exclude all liability and responsibility to you and to all third parties for any loss, damage, costs or expense, whether in tort (including negligence), contract, under statute or otherwise and whether direct, indirect, or consequential (including in connection with business interruption, loss of data, or damage to hardware or software), which you or any other person may suffer or incur in connection with the Services, or the use or inability to use the Services, and in respect of any fiat currency or digital assets transacted using the Services, or otherwise. This exclusion applies whether or not we have been informed of the possibility of such loss, damage, cost or expense occurring.

Without limiting the foregoing, no Sylo Person has any liability for any damage, loss (including loss of profit), delay or inconvenience, or failure in performance or interruption of any Service caused by or resulting from (directly or indirectly):

  • any computer virus, spyware, scareware, Trojan horse, worms or other malware or cyber, phishing or spoofing attack that may affect your computer or other device, or the data held by any person, including any node, relating to the Services.
  • any cause or condition beyond our reasonable control, including but not limited to, any delay or failure due to any act of God, act of civil or military authority, act of terrorism, civil disturbances, war, strike or other labour dispute, fire, interruption in telecommunications or internet services or network provider services, failure of equipment or software, cyber-attack, or other occurrence or catastrophe.
  • Any emotional distress caused by any content received as a result of the Services.

Our warranties are limited to those implied by law

The Services are provided without warranties of any kind, either express or implied, including, but not limited to, implied warranties of merchantability, fitness for a particular purpose, title, and non-infringement except to the extent implied by mandatory law.

While Sylo attempts to provide a good standard of user experience, we cannot and do not represent or warrant that the Services will always be secure or error-free, or that the Services will always function without delays, disruptions, or imperfections.  Therefore, to the extent permitted by mandatory law we do not warrant the reliability, availability, accuracy, completeness or timeliness of information on any website or application, or otherwise in connection with the Services. All information is provided “as is” without warranty of any kind, express or implied, except to the extent implied by mandatory law.  

Important: We are required to provide certain guarantees that cannot be excluded under consumer law, if you are using the Services for personal use, including guarantees as to the acceptable quality and fitness of purpose of the Services. Nothing in these Terms will be read or applied so as to exclude, restrict or modify or have the effect of excluding, restricting or modifying any condition, warranty, guarantee, right or remedy implied by the law and which by law cannot be excluded, restricted or modified, even if any other provision of these Terms would otherwise suggest that this might be the case.

Where and to the extent liability for breach or any implied warranty or condition, or otherwise, cannot be excluded by applicable law, our liability to you is limited (at your option) to:

  • the total amount of the fees (if any) we have earned from you as a result of supplying the Services to you; or
  • the supply of the Services to you again.

Disputes with other users

You are solely responsible for your interactions with other users of the Services. Sylo is not responsible for and has no liability to you or to any third party in relation to your disputes with other users.

Feedback and complaints

We want to ensure you have a positive user experience. If you would like to make a complaint, please contact us in the first instance by emailing or contact us directly through the in-app contact method.

If you would like to report a spammer or abuser, please contact us immediately via email at or via the in-app contact method.

New Zealand law applies

These Terms are governed by, and are to be construed in accordance with, New Zealand law. You irrevocably submit to the non-exclusive jurisdiction of the courts of New Zealand. This clause operates subject to the next clause (Arbitration).


You unconditionally and irrevocably agree that any dispute or disagreement arising out of or in connection with these Terms and/or the provision of the Services will be settled via arbitration by a sole arbitrator in accordance with the New Zealand Arbitration Act 1996 and its amendments and the AMINZ Arbitration Rules current at the time arbitration is commenced. The place of arbitration will be Auckland and the law applicable to the arbitral proceedings and the matters in dispute will be New Zealand law.

Terms survive use

These Terms will continue to apply to you after you stop using the Services, to the extent we reasonably think necessary or desirable.

No agency

We are not your agent, associate, or representative for any purpose.

Electronic communications and notices

You consent to receive electronically all communications, agreements, documents, and disclosures (together, ‘Communications’) that we may or must provide in connection with your account, your wallets, or the Services. We will provide all Communications to you at the primary email address linked to your account if you elect to supply one, or directly via the in-app communication tool.

If we send an email to you at the primary email address linked to your account or using the in-app communication tool, you acknowledge that this constitutes ‘written notice’ from us to you. If you email us at or message us using the in-app communication tool, this constitutes ‘written notice’ from you to us. For all notices made by email, the date of receipt is considered to be the date of transmission. You consent to these electronic communications for all purposes. Please notify us immediately of any change to your email address if you supply us with one.

You may withdraw your consent to receive Communications electronically by emailing us at or messaging us using the in-app communication tool. However, please note that if you withdraw your consent, we have the right to immediately block or close your account. In that event, we will await your written instructions as to how to return any credit balance of your wallets to you if this is legally permitted or applicable.

Our contact details

If you would like to contact us for any reason, please do so by email to Our office physical location is Level 8, 48 Emily Place, Auckland 1010, New Zealand.

Intellectual property

All logos, content, materials, software, graphics, text and trademarks on the Sylo applications and website and otherwise used in connection with the Services are, as between us and you, owned by us.  You are not authorised to copy, licence, sell, distribute or create derivative works from any of that intellectual property. Subject to your ongoing compliance with these Terms, we grant you a limited non-exclusive, non-transferable, revocable license to use the Sylo software solely to access the Services. Please note we do not hereby assert any ownership of your personal data or any personal content that you share on any Sylo application.

No waiver

If we do not enforce, or delay in enforcing, any compliance by you or another person with these Terms, that does not mean that we have waived our rights and will not excuse any additional non-compliance by you with these Terms.

Valid clauses saved

If any provision of these Terms is invalid or unenforceable under applicable law, that provision will be treated as removed from these Terms and the remaining provisions will continue in full force and effect.

Changes to these Terms

We may change these Terms in the following circumstances:

  • To ensure that the Terms comply with all applicable laws and regulations, regulator guidance or otherwise to ensure we meet our legal obligations and good market practice.
  • To accommodate the requirements of our service providers or business partners.
  • To reflect changes to our Services, the digital assets supported by the Services, the networks underlying any such digital assets or the risks presented by them.
  • In relation to fees for premium Services (if any), in response to changes to our costs of business or in reflection of demand for our Services.
  • Otherwise where we consider it to be necessary or desirable to do so in order to protect our legitimate business interests.

If we amend these Terms, we will publish the updated Terms on our website. If you have chosen to supply us with an up-to-date email address, we will also notify you via email. If you continue to access the Services then you will be bound by those amended or updated Terms.

Entire agreement

These Terms as updated are the entire agreement between you and us in relation to the provision of the Services.