Last updated: November 11, 2024
These legal terms cover your use of Vector. You should carefully read these terms because they describe Vector, risks you assume while using it, and important limits on your legal rights with respect to Vector.
We are a software development company, Tensor Labs Inc. (“we” or “our”), which is a Canadian federal corporation based in Toronto. We’re passionate about delivering the best user-controlled wallet experience to you.
Vector is for browsing the (very) wide world of tokens and interacting with smart contracts. It’s also a cryptocurrency wallet, a social network, and price feed for your digital assets. Vector is fast and social. We use the term “Vector” to mean the software (“Vector Software”) and backend services (“Vector Backend”) that together enable the overall Vector experience.
Vector enables you to manage and control your digital assets directly, through access to an “embedded wallet”. The embedded wallet provider is currently Privy [https://www.privy.io/], and as part of using Vector you will need to agree to the Privy terms of use [https://www.privy.io/user-terms-of-service] too. For Privy, the extent of our role is to integrate the code for accessing Privy into Vector.
We don’t have access to your digital assets and if you lose access to them we’ll be unable to restore them. Accordingly, you must export your private key(s) so that you have a backup. It is critical to do this promptly after initializing Vector, before you make use of the send or receive functionality in Vector.
If Privy ever stops working you will still be able to access your digital assets provided that you have your backed up private key(s). If at any time you wish to manage your digital assets with another program, you may do so, and you may do so concurrently, because Vector implements a widely-compatible method of private key management. In the event that you are dissatisfied with Vector, you may immediately switch to another program, and this shall be your sole remedy if you are dissatisfied with any part of the experience.
Vector is most like a web browser for your digital assets, not like a storage service that we control. What this means for you: we do not store your digital assets, we do not have any control over your digital assets, we do not manage your digital assets, and we do not sell or transfer digital assets. Accordingly, we cannot recover any of your digital assets if you lose access (due to not backing up your private keys).
If you’re an adult who understands digital assets and you live in a place that we haven’t forbidden access from (e.g. Canadian-embargoed jurisdictions) then you can use Vector. If Vector is illegal in your jurisdiction or you have become subject to sanctions by a government, anywhere in the world, then you cannot use Vector. Vector is licensed to you on a personal, non-transferable, non-sublicensable basis for you to install and operate the software. Vector also contains open-source software components that are licensed to you separately.
We may decide to turn off access to certain regions, in accordance with legal obligations, at any time, and your sole remedy shall be to discontinue using Vector. Vector may also inspect the destination address(es) of your transactions and if these destinations are linked to sanctions/unlawful activities then Vector’s interface may refuse to transmit your signed transactions. If we become aware of such a transaction we may provide this information to the appropriate authorities, based on our choice or lawful requirements in Canada, where we are based.
The Vector Software is free to use, but when you interact with certain smart contracts we may either add a referrer field or add a secondary output to a transaction that directs a small portion of the total transfer (described at the time of your transaction) to designated partner(s), such as a foundation or non-profit (“Designee”).
Designees may make available to you certain referral and/or discount programs that reduce the foregoing amounts, and any eligibility criteria shall be communicated to you on our website or in the Vector Software.
We may change the Designee at any time according to our business needs, provided that any new Designee meets our security standards and other requirements, while being able to fulfill their obligations to you. You acknowledge that we may receive compensation from a Designee, and we may appoint several Designees if we choose to do so. If you disagree with our appointment of a Designee then your sole remedy shall be to discontinue using Vector.