Effective Date: January 15, 2025

Baltex Private Swaps Terms of Service

1. Introduction

Baltex.io provides a private swapping mechanism to enhance user privacy and security during asset exchanges. By using Baltex Private Swaps, you agree to comply with the following Terms of Service. If you do not accept these terms, do not use the Private Swaps feature.

2. Privacy and Anonymity

Baltex Private Swaps enable users to execute transactions without publicly linking sender and recipient addresses. This is achieved through a non-custodial process that ensures enhanced privacy by breaking the traceability of transactions on the blockchain.

3. Non-Custodial Nature

Baltex.io does not control, store, or have access to user funds at any point during the swap process. All transactions occur through our privacy-preserving exchange mechanism, ensuring users retain full ownership of their assets throughout the exchange.

4. Transaction Processing

4.1. Record Segregation

  • Exchange 1 handles the receiving side of the transaction, recording the intake and swapping of funds to be sent across a randomly selected Layer 1.
  • Exchange 2 manages the sending side, swapping the received funds into the receiver's specified token and dispatching it.

This separation of roles ensures that each exchange only has partial knowledge of the transaction.

4.2. Single Use Wallet Addresses

  • Exchange partners utilize single-use wallet addresses for each transaction.
  • Exchange 1 only sees a newly created, single-use wallet address of an unknown owner to which it forwards funds.
  • Exchange 2 only sees funds sent to its newly created wallet address from a single-use deposit address of an unknown user.
  • Neither exchange is aware the other is involved in the transaction.

4.3. Randomized Layer 1s

  • A randomly selected Layer 1 acts as a crucial privacy intermediary, disconnecting the sender's original tokens from the receiver's final tokens and breaking any direct link between the two parties involved.
  • The Layer 1 utilized in the transaction is randomly selected from a portfolio of leading blockchains with deep liquidity and significant transaction volumes. Supported chains include TRX, LTC, SOL, and DOT.

5. Supported Assets

Baltex Private Swaps support select cryptocurrencies and tokens that are compatible with the privacy-enhancing mechanism. The list of supported assets is subject to change at the discretion of Baltex.io.

6. Fees

A small service fee is deducted from each private swap transaction to cover network and operational costs. The applicable fees are displayed before initiating a swap and are subject to change based on network conditions.

7. Compliance and Restrictions

  • Users are responsible for ensuring that they do not use Baltex Private Swaps for illicit activities, including but not limited to:
    • Money laundering
    • Terrorism financing
    • Fraud
  • Baltex.io reserves the right to restrict access to users from jurisdictions where private swaps may be prohibited by law.

8. Risks and Liability

  • Blockchain transactions are irreversible, and once a private swap is initiated, it cannot be canceled or refunded.
  • Baltex.io is not liable for any loss of funds due to user error, including incorrect deposit addresses or withdrawal mistakes.
  • While Baltex implements security measures to protect users, it does not guarantee absolute anonymity. Users should conduct their own risk assessments before engaging in private swaps.

9. Changes to Terms

Baltex.io reserves the right to modify these Terms of Service at any time. Continued use of the Private Swaps feature constitutes acceptance of any updated terms.

10. Contact and Support

For any inquiries regarding Private Swaps, please contact Baltex.io support via official channels.

By using Baltex Private Swaps, you confirm that you understand and accept these Terms of Service.