Fuse wallet and card terms of service
These Fuse Wallet and Card Terms of Service (“Fuse Terms”) supplement and form part of the Squads Terms located at https://squads.so/legal/terms-of-service (or such successor URL as may be designated by Squads) (the “Squad Terms”), and are entered into by and between Squads Inc. (“Squads”) and you to govern your use of the Fuse Wallet and Fuse Card as described below.
By indicating acceptance of these Fuse Terms or utilizing the Fuse Wallet, you accept all the terms and conditions of these Fuse Terms. These Fuse Terms take precedence over the Squad Terms in the event of a conflict to the extent such conflict relates to your use of the Fuse Wallet. Capitalized terms used but not defined in these Fuse Terms have the meanings set forth in the Terms, unless otherwise specified herein.
Fuse Wallet. The services provides software that enables users of the app to create a noncustodial, unhosted cryptoasset wallet (“Fuse Wallet”) so that you can (i) store locally on your own devices, tokens, cryptocurrencies and other crypto or Solana-based digital assets (collectively, “digital assets”); (ii) link to decentralized applications, including, without limitation, decentralized exchanges (collectively “dapp(s)”); (iii) from the app user interface, swap assets on a peer-to-peer basis; (iv) view addresses and information that are part of digital asset networks and broadcast transactions; and (v) additional functionality as may be added to the app from time to time.
Account creation. To create a Services account (“Account”) and set up your Fuse Wallet, you will be prompted to set up two (2) different authentication keys (“main keys”) that are accessible through your mobile phone. After the account is created you can also add up to three (3) “recovery keys”. The main keys include (1) a device key stored locally on your iPhone, protected by apple’s biometric authentication (i.e., face id); and (2) a two-factor authentication (2fa) key that is stored in your iCloud. You can later change your two-factor authentication (2fa) key to a cold wallet. The app lets users set the recovery key as either the public key of another Solana-compatible wallet under your control or a new public key linked to a private key that you can obtain through email verification with a third-party service provider.
Transactions. The app account creation process generates a Solana-based program derived address that can only be controlled by an immutable “multisignature program” that will only execute transactions signed by your authentication keys. You can use your main keys to initiate, approve, reject and execute transactions with the multisignature program. You can only use a recovery key to approve transactions that were created by a main key. This functionality allows you to replace one of your main keys if it has been lost or compromised. Importantly, squads never has access to your main keys or the recovery key and cannot access or control your Fuse Wallet. Transactions require the payment of the solana network fee through the paymaster feature (“paymaster”). If you do not have enough sol or fusesol in the paymaster, you will not be able to process transactions using the Fuse Wallet.
Squads has no control of your Fuse Wallet. In providing the app and Fuse Wallet, squads does not hold user assets or otherwise intermediate user transactions. You retain total independent control over the assets in your Fuse Wallet. You are solely responsible for any transactions carried out by you or any other user through your Fuse Wallet.
Fuse Card. Fuse pay is powered by a virtual visa® prepaid card that enables everyday, real-world spending of stablecoins directly from your Fuse Wallet (“fuse card”) issued by Lead Bank, FDIC member bank (“Lead”). Fuse pay will leverage third party payment process infrastructure and third party smart accounts infrastructure to ensure that your fuse card is self-custodial. When you create an account, a separate smart account is deployed, with your account acting as the sole signatory. The fuse card allows you to set daily spending limits and withdraw your funds. Your use of the fuse card is subject to the fuse card cardholder agreement with lead bank (“cardholder agreement”) available here: https://www.bridge.xyz/card-agreements/fuse-card.
