These terms cover the Elyo website (useelyo.app) and the Elyo web app (useelyo.app/app), together "Elyo". By using Elyo you agree to them. If you do not agree, do not use Elyo.
1. Who we are
Elyo is made and run by Elyo LLC ("Elyo", "we", "us"). You can reach us at hello@useelyo.app.
2. Who can use Elyo
- You must be at least 18 and able to enter a binding contract where you live.
- Elyo is only for people who may lawfully use it where they live. You must not use Elyo where the law forbids it.
- You must not be on a sanctions list, act for someone who is, or use a VPN or other tool to hide where you are.
- You are responsible for making sure that using Elyo is legal for you where you live.
3. What Elyo does
Elyo is software. It runs vaults that sell one-week options on tokenized stocks (xStocks) and a market where you can buy weekly calls and puts with USDC.
- Vaults. You deposit an xStock or USDC. Each week the vault sells an option at a strike shown in the app and pays the premium in USDC. If the option ends in the money at Friday's 4:00 pm ET close, your position settles at the strike: for an Income vault you may receive USDC instead of part of your stock; for a Buy the Dip vault you may receive the stock instead of part of your USDC.
- Market. You pay a premium in USDC for a call or put. At the Friday close it pays out if it ends in the money and expires worthless if it does not. The most you can lose on a bought option is what you paid.
- Prices. Strikes, premiums and settlement use the price source shown in the app at that time. A settlement price, once published, is final.
4. Who holds the funds
Each vault has its own escrow wallet on Solana. Elyo's servers hold the keys to those wallets and follow the vault rules shown in the app; your positions, options and income are kept in Elyo's ledger, and every action is written to the public record. This means you rely on Elyo to keep those keys safe and to follow the rules. Your own wallet's keys (the built-in wallet's 12 words, or an outside wallet such as Phantom) stay with you; we never see them and cannot recover them.
5. Withdrawals and timing
- You can withdraw what is not tied up in this week's option at any time. What is tied up comes back after the week settles.
- The app shows when an action is final. We do not promise that any action, payout or settlement happens at an exact second; the Solana network, price sources and our servers can be slow or down.
- We may pause a vault or the market to protect users, for example when a price is missing, a stock has a corporate action, or something looks wrong. Withdrawals and payouts keep working while a vault is paused.
- Transactions on Solana are final. We cannot reverse a transfer you sign.
6. Fees
Elyo charges no fee today. You pay Solana network fees and any account deposits Solana requires for the transactions you sign. If we ever add a fee, we post it on this page and in the app before it starts, and it does not apply to a week that is already open.
7. Not advice
Nothing on Elyo is investment, financial, tax or legal advice, and nothing on Elyo is an offer or recommendation to buy or sell any security. Yields shown are estimates from past weeks, not promises. You decide what to deposit or buy. Read the risk disclosure first.
8. Tokenized stocks
xStocks are issued by a third party, not by Elyo. They track a stock's price but are not the stock itself and may not give you the rights a shareholder has. Their issuer's own terms apply to them. We do not control their issue, redemption, pricing or availability.
9. Using Elyo fairly
Do not use Elyo to break any law or sanction, to launder money, to manipulate a price or a settlement, to defraud anyone, or to attack, overload, scrape at scale or reverse-engineer the service. We may block access from a wallet, address or location that breaks these terms or that the law requires us to block.
10. No warranties
Elyo is provided "as is" and "as available". It has not had an outside security audit. We do not promise that it will be free of errors, always available, or that the Solana network, wallets, price sources or other services it depends on will work.
11. Limits on our liability
As far as the law allows, Elyo LLC is not liable for indirect or consequential losses, lost profits, trading losses, or losses caused by the Solana network, price sources, token issuers, your wallet or lost keys. Our total liability to you for any claim is limited to the greater of the fees you paid us in the 12 months before the claim and 100 US dollars. Nothing in these terms limits liability that cannot be limited by law.
12. Changes and ending
We may change Elyo or these terms. The date at the top shows the latest version; a material change is also shown in the app. If you keep using Elyo after a change, the new terms apply. We may stop offering Elyo; if we do, we will give notice in the app and keep withdrawals open for at least 30 days.
13. Contact
Questions about these terms: hello@useelyo.app.