Changelly DeFi – Terms of Use
Last Updated: April, 2026
These Terms of Use (hereinafter, the "Terms") govern your ("User", "you") access to and use of the Changelly DeFi Interface and the Changelly DeFi Protocol, as described below. Please read these Terms carefully before using the Interface or interacting with the Protocol.
The Interface is operated by Changelly Labs ("Changelly Labs", "We", or "Us"). Changelly Labs provides the Interface as a means of accessing the Protocol, a third-party decentralized swap infrastructure described further below. Changelly Labs does not operate as a financial services provider, exchange, broker, dealer, or custodian.
By accessing or using the Interface, or by interacting with the Protocol through any means, you acknowledge that you have read, understood, and agree to be bound by these Terms. If you do not agree to these Terms, you must not access or use the Interface or the Protocol.
1. Definitions
1.1 "Protocol" means the Changelly DeFi decentralized swap protocol, consisting of a set of autonomous, self-executing smart contracts deployed on various public blockchain networks (including but not limited to Ethereum, Solana, Bitcoin, and Tron). The Protocol facilitates intent-based, non-custodial digital asset swaps through on-chain escrow and settlement mechanisms. The Protocol is developed and maintained by a third party independent of Changelly Labs. The Protocol operates independently once deployed on the blockchain and is not controlled by Changelly Labs or any single entity.
1.2 "Interface" means the web-based user interface provided by Changelly Labs at https://changelly.com/defi and any associated applications, through which Users may submit swap intents, view quotes, and interact with the Protocol. "API" means the application programming interface made available by Changelly Labs through which third-party integrators may programmatically access the Protocol. The Interface and API are among, but not the exclusive, means of accessing the Protocol.
1.3 "Digital Assets" means blockchain-based assets, including but not limited to cryptocurrencies, tokens, and other digital mediums of exchange (such as Bitcoin, Ethereum, SOL, etc.), transmitted exclusively by means of blockchain technology, to the full and absolute exclusion of securities of any kind.
1.4 "Swap" means an exchange of one type of Digital Asset for another, executed through the Protocol via on-chain escrow smart contracts.
1.5 "Intent" means a User's signed expression of desire to execute a Swap with specified parameters (including source asset, destination asset, amount, source address, destination address, and optional refund address), submitted to the Protocol for fulfillment by a Resolver.
1.6 "Resolver" means an independent third-party liquidity provider that fulfills Swap Intents submitted through the Protocol. Resolvers operate independently of Changelly Labs and are not agents, employees, or affiliates of Changelly Labs. Resolvers source liquidity at their own discretion and bear responsibility for the execution of Swaps they accept.
1.7 "Escrow Contract" means a per-transaction on-chain smart contract generated by the Protocol, into which a User's Digital Assets are locked pending fulfillment of a Swap. Funds held in an Escrow Contract can only be released to (a) the User as a refund, or (b) the Resolver upon verified fulfillment of the Swap.
1.8 "Smart Contracts" means self-executing programs deployed on public blockchain networks that automatically enforce the rules of the Protocol, including escrow, verification, settlement, and payout functions.
2. The Protocol
2.1 Decentralized Infrastructure. The Protocol consists of open-source smart contracts deployed on public blockchain networks. Once deployed, the Smart Contracts operate autonomously and are not controlled, operated, or administered by Changelly Labs or any single party. Changelly Labs does not have the ability to modify, pause, or reverse transactions executed through the Protocol's deployed Smart Contracts, except through mechanisms, if any, that are built into the Smart Contracts themselves and are publicly auditable.
2.2 Intent-Based Architecture. The Protocol uses an intent-based swap model:
(a) A User submits a Swap Intent specifying the desired parameters;
(b) A Resolver reviews the Intent, evaluates pricing and compliance requirements, and either accepts or declines the Intent;
(c) If accepted, the User provides an off-chain signature authorizing the Resolver to initiate the deposit of the User's Digital Assets into an Escrow Contract;
(d) The Resolver deposits the User's Digital Assets into an on-chain Escrow Contract using the User's signature;
(e) The Resolver fulfills the Swap by delivering the destination Digital Assets to the User's specified address on the destination chain;
(f) Upon verified fulfillment, the Protocol issues a cryptographic authorization enabling the Resolver to withdraw the escrowed funds.
2.3 Non-Custodial by Design. The Protocol is non-custodial. At no point does Changelly Labs, or any entity other than the relevant Smart Contracts, have custody, possession, or control of your Digital Assets. Digital Assets are locked in on-chain Escrow Contracts – not in accounts controlled by Changelly Labs. The release of funds from Escrow Contracts is governed solely by the logic of the Smart Contracts.
2.4 Cross-Chain Execution. The Protocol supports Swaps across multiple blockchain networks, including but not limited to Bitcoin, Ethereum, Solana, and Tron. The availability of supported networks and tokens may change over time.
2.5 Settlement. Settlement of Swaps is performed on-chain and is verifiable through public blockchain explorers. The Protocol waits for blockchain-level finalization before authorizing payouts. Settlement times vary depending on the blockchain networks involved.
3. The Interface
3.1 Access Tool. The Interface is a software tool that allows Users to interact with the Protocol in a user-friendly manner. The Interface generates and displays Swap quotes, facilitates the submission of Intents, and presents transaction status information.
3.2 Not the Only Access Point. The Interface is not the exclusive means of accessing the Protocol. The Protocol's Smart Contracts are deployed on public blockchains and may be accessed through other interfaces, tools, or direct smart contract interaction. Changelly Labs has no control over other means of accessing the Protocol.
3.3 Availability. We may, at our sole discretion, modify, suspend, or discontinue the Interface (or any part thereof) at any time, with or without notice. We shall not be liable to you or any third party for any modification, suspension, or discontinuance of the Interface.
4. Our Role
4.1 Interface and API Provider. Changelly Labs provides access to the Protocol through the Interface and API. Our role is limited to:
(a) providing and maintaining the Interface and API;
(b) publishing documentation, including APIs and integration guides;
(c) providing customer-facing support in connection with the Interface and API.
4.2 What We Do Not Do. Changelly Labs:
(a) does not develop, deploy, or maintain the Protocol or its Smart Contracts;
(b) does not act as a financial intermediary, exchange, broker, dealer, market maker, or custodian;
(c) does not have custody, possession, or control over any User's Digital Assets at any time;
(d) does not execute, guarantee, or otherwise ensure the completion of any Swap;
(e) does not determine or control the prices at which Swaps are executed;
(f) does not select, control, or direct the actions of Resolvers;
(g) does not have the ability to freeze, hold, seize, or reverse any transaction executed through the Protocol, except through mechanisms built into the publicly auditable Smart Contracts;
(h) does not provide investment advice, financial advice, legal advice, or recommendations regarding any Digital Asset or Swap;
(i) does not perform identity verification or know-your-customer (KYC) procedures on Users. Changelly Labs may share address screening data (such as blacklists) with Resolvers to support their independent compliance procedures, but this does not constitute AML responsibility on the part of Changelly Labs. Any compliance screening of Users is performed independently by Resolvers prior to accepting Intents (see Section 8).
4.3 No Fiduciary Duties. These Terms are not intended to, and do not, create or impose any fiduciary duties on Changelly Labs. To the fullest extent permitted by law, you acknowledge and agree that Changelly Labs owes no fiduciary duties or liabilities to you or any other party, and that to the extent any such duties or liabilities may exist at law or in equity, those duties and liabilities are hereby irrevocably disclaimed, waived, and eliminated.
5. User Signatures and Authorization
5.1 Off-Chain Signatures. To execute a Swap through the Protocol, you provide an off-chain cryptographic signature authorizing the Resolver to initiate the deposit of your Digital Assets into an Escrow Contract. This signature is limited in scope to the specific Swap: it specifies the exact amount, token, and expiry time, and is fully readable and inspectable by you before signing.
5.2 User Responsibility. You are solely responsible for:
(a) reviewing and understanding the parameters of any Swap before providing your signature;
(b) ensuring the accuracy of all addresses (source, destination, and refund) you provide;
(c) maintaining the security of your wallet, private keys, and seed phrases;
(d) understanding the characteristics and risks of the Digital Assets involved in any Swap.
5.3 No Further Action Required. Once you provide your signature and the Resolver accepts the Intent, the Swap will proceed to completion without further action from you. You may close the Interface or disconnect from the network, and the Swap will still be executed by the Resolver and settled by the Protocol.
6. Token Conversion and Refunds
6.1 Illiquid Token Handling. If you initiate a Swap involving a Digital Asset that is not among the Protocol's set of designated liquid tokens, the Resolver may convert that Digital Asset to a base liquid asset (such as SOL on Solana or WETH on Ethereum) as part of the deposit process before proceeding with the Swap.
6.2 Refund in Base Asset. In the event that a Swap involving a converted Digital Asset fails or is cancelled after the conversion has occurred, you acknowledge and agree that any refund will be made in the base liquid asset (e.g., SOL or WETH), and NOT in the original Digital Asset you submitted. The value of the base liquid asset received as a refund may differ from the value of the original Digital Asset due to market fluctuations.
6.3 Standard Refunds. For Swaps involving designated liquid tokens, in the event of a failure or cancellation before the Resolver has fulfilled the destination side of the Swap, your Digital Assets held in the Escrow Contract will be returned to you in accordance with the Smart Contract logic. Changelly Labs does not control or process refunds – all refund mechanisms are governed by the Protocol's Smart Contracts.
7. Fees
7.1 Platform Fee. Changelly Labs charges a platform fee on Swaps as compensation for providing the Interface, API, and related services. This fee is embedded as a component of the quoted price presented to you before confirmation. You will not be charged any fee beyond what is disclosed at the time of confirmation.
7.2 Resolver Fees. Resolvers may incorporate their own fees into the prices they quote. These fees are determined solely by the Resolver and are not set, controlled, or collected by Changelly Labs.
7.3 Network Fees. The Protocol is fully gasless on Solana and Bitcoin — the Resolver covers all transaction costs. On Ethereum and Tron, a one-time token approval transaction (an industry-standard Permit2 allowance, also used by 1inch, Uniswap, and others) is required before your first Swap on those networks. This one-time setup involves a network fee paid by you; all subsequent Swaps on those networks are gasless. Network fees for this setup may apply even if the Swap that follows fails or is not completed.
7.4 Partner Fees. If you access the Protocol through a third-party application or partner integration, the partner may charge an additional fee embedded in the quoted price. Changelly Labs is not responsible for fees charged by third-party partners.
7.5 No Hidden Fees. All fees applicable to a Swap are reflected in the final quoted price presented to you. There are no additional or hidden charges.
8. Compliance and Screening
8.1 Protocol-Level. The Protocol is decentralized infrastructure and does not perform identity verification, KYC, or AML procedures on Users.
8.2 Resolver-Level Screening. Resolvers may independently perform compliance screening before accepting an Intent. This screening may include checking sender and receiver addresses against sanctions lists, blacklists, or other compliance databases maintained by the Resolver. If a Resolver declines an Intent as a result of such screening, no Digital Assets are taken from the User – the User retains full control of their assets.
8.3 No Custody At Any Stage. At no point during or after the swap process do User Digital Assets come into the custody or control of any person or entity. Prior to fulfillment, assets are locked in on-chain Escrow Contracts governed solely by Smart Contract logic. If a Resolver declines an Intent prior to deposit, no assets leave the User's wallet.
8.4 User Representations. By using the Interface or interacting with the Protocol, you represent and warrant that your use does not violate any applicable laws, regulations, or sanctions programs in your jurisdiction. See Section 9 (Eligibility) for further details.
9. Eligibility
9.1 By accessing the Interface or interacting with the Protocol, you represent and warrant that:
9.1.1 you are at least 18 years old or of legal age in your jurisdiction;
9.1.2 you have the legal capacity to enter into these Terms;
9.1.3 you are not located in, incorporated in, or a citizen or resident of any jurisdiction where your use of the Interface or the Protocol would be prohibited by applicable law or regulation;
9.1.4 you are not subject to any sanctions administered or enforced by the United States (OFAC), the European Union, the United Nations, the United Kingdom, or any other applicable sanctions authority;
9.1.5 you are not identified as a Specially Designated National (SDN) or placed on any U.S. or international prohibited or restricted party list;
9.1.6 your Digital Assets are not derived from or associated with any illegal activity, including but not limited to money laundering, terrorist financing, fraud, or sanctions evasion;
9.1.7 you will not use the Interface or the Protocol to engage in any activity that violates applicable law.
9.2 Restricted Access. Changelly Labs may restrict access to the Interface from certain jurisdictions at its discretion. Such restrictions apply to the Interface only and do not affect the operation of the Protocol on public blockchains.
10. Prohibited Activities
10.1 You agree that you will not:
10.1.1 use the Interface or the Protocol for any illegal purpose, including money laundering, terrorist financing, sanctions evasion, fraud, or the exchange of Digital Assets derived from illegal activities;
10.1.2 provide false, inaccurate, or misleading information;
10.1.3 attempt to interfere with, disrupt, or compromise the integrity of the Interface, the Protocol, or the underlying Smart Contracts;
10.1.4 attempt to modify, decompile, reverse-engineer, or disassemble the Interface software (the Protocol's Smart Contracts are publicly auditable and may be inspected);
10.1.5 use any automated means (bots, spiders, scrapers) not authorized by us to access the Interface or extract data;
10.1.6 attempt to circumvent any access controls, geographic restrictions, or security measures implemented in the Interface;
10.1.7 encourage or induce any third party to engage in any of the activities prohibited under this Section.
11. Risk Disclosure
11.1 General. The use of decentralized protocols and Digital Assets involves substantial risk. By accessing the Interface or interacting with the Protocol, you acknowledge that you understand and accept the following risks:
11.2 Smart Contract Risk. The Protocol relies on Smart Contracts deployed on public blockchains. Smart Contracts may contain bugs, vulnerabilities, or errors that could result in the loss of Digital Assets. The Protocol's Smart Contracts are developed and maintained by a third party. Changelly Labs has no ability to audit, modify, or intervene in them. No audit can guarantee the absence of vulnerabilities. You interact with Smart Contracts at your own risk.
11.3 Blockchain Risk. The Protocol operates on public blockchain networks that are subject to risks including but not limited to: network congestion, forks, consensus failures, 51% attacks, validator/miner-related risks, and protocol-level changes. Changelly Labs does not control any blockchain network.
11.4 Price Volatility. The value of Digital Assets is highly volatile and may change significantly between the time you submit an Intent and the time a Swap is settled. Changelly Labs does not guarantee any exchange rate and is not liable for any losses resulting from price movements.
11.5 Resolver Risk. Resolvers are independent third parties. While the Escrow Contract mechanism protects Users against non-delivery (funds can only leave escrow upon verified fulfillment or as a refund to the User), Changelly Labs does not guarantee the availability, reliability, or conduct of any Resolver.
11.6 Cross-Chain Risk. Cross-chain Swaps involve multiple blockchain networks with different finality guarantees, confirmation times, and technical characteristics. Delays, failures, or errors on any involved chain may affect the execution or settlement of your Swap.
11.7 Regulatory Risk. The regulatory status of decentralized protocols, Digital Assets, and blockchain technology is evolving and varies by jurisdiction. Legislative or regulatory changes may adversely affect the use, transfer, or value of Digital Assets, or the availability of the Protocol or the Interface.
11.8 Token Risk. Digital Assets available through the Protocol are not vetted, endorsed, or guaranteed by Changelly Labs. Any token on a supported blockchain network may potentially be used with the Protocol. You are solely responsible for evaluating any Digital Asset before initiating a Swap.
11.9 Loss of Access. If you lose access to your wallet (including private keys and seed phrases), you will permanently lose access to your Digital Assets. Changelly Labs cannot recover lost wallets, private keys, or Digital Assets.
11.10 No Insurance. Digital Assets held in Escrow Contracts or in your wallet are not insured by any government agency, insurance fund, or protection scheme.
11.11 Experimental Technology. You acknowledge that the Protocol is software deployed on public blockchains and that decentralized finance is an emerging field. You use the Protocol and the Interface at your own risk and accept full responsibility for any resulting losses.
12. No Investment Advice
12.1 Nothing in these Terms or on the Interface constitutes investment advice, financial advice, legal advice, tax advice, or any other form of professional advice. Changelly Labs does not recommend any particular Digital Asset or Swap strategy.
12.2 You are solely responsible for your decisions regarding Digital Assets and Swaps. You should consult your own legal, financial, and tax advisors before using the Protocol or engaging in any Swap.
13. Third-Party Services and Content
13.1 The Interface may contain links to, or integrations with, third-party websites, applications, or services. Changelly Labs does not control, endorse, or assume responsibility for any third-party services or content.
13.2 The Protocol interacts with public blockchain networks, Resolvers, and other third-party infrastructure. Changelly Labs is not responsible for the operation, availability, or security of any third-party service, blockchain network, or Resolver.
13.3 If you access the Protocol through a third-party application (e.g., a wallet or aggregator), your use of that application is governed by its own terms of service. Changelly Labs is not responsible for third-party applications.
14. Intellectual Property
14.1 The Interface, including its design, code, text, graphics, logos, and other content, is the intellectual property of Changelly Labs and is protected by applicable intellectual property laws.
14.2 We grant you a limited, nonexclusive, non-sublicensable, revocable license to access and use the Interface for your personal, non-commercial use in accordance with these Terms.
14.3 The Protocol's Smart Contracts are deployed on public blockchains. To the extent the Protocol's source code is published as open source, it is made available under the applicable open-source license.
14.4 You may not reproduce, distribute, modify, or commercially exploit any materials associated with the Interface without our prior written consent.
15. Privacy
15.1 By using the Interface, you acknowledge that blockchain transactions are publicly visible and permanently recorded on the blockchain. Changelly Labs does not control and cannot delete blockchain transaction data.
15.2 The Interface may collect certain technical data (such as IP addresses, browser type, and usage analytics) as described in the Privacy Policy, available at https://changelly.com/privacy-policy.
15.3 Changelly Labs does not collect, store, or process personal identity documents through the Interface.
16. Limitation of Liability
16.1 THE INTERFACE AND THE PROTOCOL ARE PROVIDED ON AN "AS IS" AND "AS AVAILABLE" BASIS, WITHOUT WARRANTIES OF ANY KIND, WHETHER EXPRESS, IMPLIED, OR STATUTORY, INCLUDING WITHOUT LIMITATION WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE, AND NON-INFRINGEMENT.
16.2 CHANGELLY LABS DOES NOT WARRANT THAT THE INTERFACE OR THE PROTOCOL WILL BE UNINTERRUPTED, ERROR-FREE, SECURE, OR FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS.
16.3 IN NO EVENT SHALL CHANGELLY LABS, ITS DIRECTORS, OFFICERS, EMPLOYEES, AGENTS, OR AFFILIATES BE LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL, CONSEQUENTIAL, SPECIAL, OR EXEMPLARY DAMAGES OF ANY KIND, INCLUDING BUT NOT LIMITED TO LOSS OF DIGITAL ASSETS, LOSS OF PROFITS, LOSS OF DATA, OR LOSS OF GOODWILL, ARISING OUT OF OR IN CONNECTION WITH:
(a) your use of or inability to use the Interface or the Protocol;
(b) the execution, non-execution, delay, or reversal of any Swap;
(c) the conduct, acts, or omissions of any Resolver or third party;
(d) any unauthorized access to, or alteration of, any Smart Contract or blockchain transaction;
(e) any error, bug, or vulnerability in the Protocol's Smart Contracts;
(f) the volatility or loss in value of any Digital Asset;
(g) any regulatory action affecting the availability of the Interface, the Protocol, or any Digital Asset;
(h) any other matter relating to the Interface, the Protocol, or these Terms.
16.4 THE TOTAL AGGREGATE LIABILITY OF CHANGELLY LABS ARISING OUT OF OR RELATING TO THESE TERMS, THE INTERFACE, OR THE API SHALL NOT EXCEED THE PLATFORM FEES PAID BY YOU TO CHANGELLY LABS IN THE THREE (3) MONTHS PRECEDING THE DATE OF THE CLAIM.
16.5 THE FOREGOING LIMITATIONS APPLY REGARDLESS OF THE LEGAL THEORY ON WHICH THE CLAIM IS BASED, WHETHER IN CONTRACT, TORT (INCLUDING NEGLIGENCE), STRICT LIABILITY, OR OTHERWISE, AND EVEN IF CHANGELLY LABS HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.
17. Indemnification
YOU AGREE TO INDEMNIFY, DEFEND, AND HOLD HARMLESS CHANGELLY LABS, ITS DIRECTORS, OFFICERS, EMPLOYEES, AGENTS, AND AFFILIATES FROM AND AGAINST ANY AND ALL CLAIMS, DEMANDS, ACTIONS, DAMAGES, LOSSES, COSTS, AND EXPENSES (INCLUDING REASONABLE ATTORNEYS' FEES) ARISING OUT OF OR IN CONNECTION WITH: (a) YOUR USE OF THE INTERFACE OR THE PROTOCOL; (b) YOUR BREACH OF THESE TERMS; (c) YOUR VIOLATION OF ANY APPLICABLE LAW OR REGULATION; (d) YOUR VIOLATION OF ANY RIGHTS OF ANY THIRD PARTY; (e) ANY INACCURACY IN YOUR REPRESENTATIONS OR WARRANTIES UNDER THESE TERMS.
18. Amendments
18.1 We reserve the right to modify these Terms at any time, at our sole discretion. We will notify you of material changes by posting the updated Terms on the Interface and updating the "Last Updated" date. Your continued use of the Interface after any modification constitutes acceptance of the modified Terms.
18.2 If you do not agree to the modified Terms, you must stop using the Interface. The Protocol's Smart Contracts will continue to operate on the blockchain regardless of any changes to these Terms.
19. Governing Law and Dispute Resolution
19.1 These Terms and any dispute arising from them shall be governed by and construed in accordance with the laws of the Republic of Costa Rica, without giving effect to any conflict of laws principles.
19.2 You and Changelly Labs agree to notify each other in writing of any dispute within thirty (30) days of when it arises. Notice to Changelly Labs must be sent to legal@changelly.com.
19.3 The parties agree to attempt informal resolution prior to any formal proceedings.
19.4 Any dispute that cannot be resolved informally shall be resolved by binding arbitration conducted confidentially by a single arbitrator, in accordance with the laws of the Republic of Costa Rica.
19.5 YOU AGREE THAT ANY DISPUTE RESOLUTION PROCEEDINGS WILL BE CONDUCTED ONLY ON AN INDIVIDUAL BASIS AND NOT IN A CLASS, CONSOLIDATED, OR REPRESENTATIVE ACTION. YOU WAIVE YOUR RIGHT TO PARTICIPATE IN A CLASS ACTION LAWSUIT OR CLASS-WIDE ARBITRATION.
20. Termination
20.1 We may restrict, suspend, or terminate your access to the Interface at any time, for any reason or no reason, without prior notice.
20.2 Termination of your access to the Interface does not affect the operation of the Protocol's Smart Contracts on the blockchain. You may continue to interact with the Protocol through other means.
20.3 The provisions of these Terms that by their nature should survive termination shall survive, including but not limited to Sections 4.3, 11, 16, 17, and 19.
21. Miscellaneous
21.1 Entire Agreement. These Terms constitute the entire agreement between you and Changelly Labs with respect to the Interface and the Protocol, and supersede all prior or contemporaneous agreements and understandings.
21.2 Severability. If any provision of these Terms is found to be invalid, illegal, or unenforceable, the remaining provisions shall continue in full force and effect.
21.3 Waiver. Our failure to exercise or enforce any right or provision of these Terms shall not operate as a waiver of such right or provision.
21.4 Assignment. You may not assign or transfer any of your rights or obligations under these Terms without our prior written consent. Changelly Labs may assign or transfer its rights and obligations under these Terms without your consent.
21.5 Contact. For questions about these Terms, contact us at legal@changelly.com.