THIS IS IMPORTANT INFORMATION. DO NOT USE THE APP UNTIL YOU ARE SURE THAT YOU UNDERSTAND THIS SECTION.
The App is a non-custodial mobile wallet application that allows you to receive, store and send virtual currencies. It uses a threshold signature scheme (TSS) to sign transactions. TSS implementation makes use of three keys: the App Key that is stored within the App, the Server Key that is stored on our servers, and the Recovery Key that can be stored either in a separate desktop application offered by us, or on a storage device of your choice. You require two of these keys to make a transaction – by using the App Key either with the Server Key, or with the Recovery Key. You will be prompted to export the Recovery Key when you use the App. Please do so, as it will be necessary to generate a new set of keys in case you reinstall the App on your mobile device.
Although we have one of the three keys at our servers, we do not have access to your funds and cannot initiate any operations with your wallet without your participation. We do not provide custodial services.
The App Key is stored within the installed App. If the App is deleted from your mobile device and then reinstalled, the App Key component will be generated anew, and you will need to perform a recovery procedure to access your funds. You will have to authenticate with your mobile number to access the Server Key, and then import the Recovery Key to generate a new set of keys and access the wallet.
After a new set of keys has been generated, you will need to export the new Recovery Key to be able to perform a new recovery procedure.
1.3. Loss of Funds
If you forget your PIN, you will lose access to your funds. The App does not allow for the PIN to be recovered.
After the Recovery Key has been exported, you need to keep it safe. You cannot export a second Recovery Key from the App, unless you perform a recovery procedure with the Recovery Key that has already been exported. If you lose access to the exported Recovery Key, you will not be able to sign transactions without the Server Key or perform a recovery procedure.
If you lose access to both the App Key and the Recovery Key, your funds will be lost permanently.
If you lose access to both the App Key and your mobile number, you will not be able to generate a new set of keys with the Recovery Key, and your funds will be lost permanently.
You are solely responsible for keeping your keys safe and for remembering your PIN. The loss of funds due to the loss of two keys or due to the loss of PIN will be irreversible.