Terms and Conditions
El Dorado Gana
These terms and conditions describe the conditions of use of the El Dorado Gana product on the El Dorado platform (“SuperApp”), defining a relationship between you (“User”) and any holding company, subsidiary, or entity belonging to the El Dorado group of companies (“El Dorado”). Hereinafter, we will refer to each separately as a “Party,” and when referring to both together, we will refer to the “Parties.”
You express your consent and acceptance by using the product and by electronically and expressly accepting these terms and conditions. You also agree that these terms and conditions may be updated or modified without prior notice.
If you do not agree to these terms and conditions of use, you cannot access this site or use the service offered by El Dorado.
El Dorado Gana may contain third-party features and/or services governed by separate terms and conditions. You agree and acknowledge that you have read and accepted these third-party terms before using any El Dorado Gana Platform services.
1. APY: Figure representing the actual amount of interest generated on investments and savings.
2. Wallet: A crypto wallet (software or physical device) that allows users to store, send, and receive crypto assets.
3. United States Treasury Bonds: Debt instruments issued by the United States government.
4. Earnings: The rate of return an investor can expect from their investments in crypto assets or DeFi products, typically expressed as an annual percentage (Annual Percentage Rate, APY).
5. Digital Asset Exchange ("Swap"): A procedure that allows one cryptocurrency to be exchanged for another within the same blockchain or between different blockchains, quickly and directly, leveraging Smart Contracts. This definition also includes a Bridge, which enables exchanging cryptocurrencies between different blockchains.
6. Applicable Law: Any laws, statutes, regulations, ordinances, treaties, guidelines, or policies issued by any governmental or regulatory authority of El Salvador.
7. Mountain Protocol: A financial protocol offering a stablecoin called USDM, fully collateralized by US Treasury bonds.
8. Peer-to-peer (P2P): Technology and processes enabling the direct transfer of digital assets between two parties without a centralized intermediary.
9. Platform: El Dorado App.
10. Available Protocol(s): Any software and/or code, including, but not limited to, smart contracts, wallets, DeFi protocols, DEX aggregator protocols, or similar protocols built on a compatible blockchain network.
11. Blockchain networks: Digital infrastructures that maintain immutable transaction records.
12. Self-Custodial Wallet: A digital wallet in which only the holder has and controls the private keys. As a User, you are solely responsible for the security and access to your assets.
13. USDT: A stablecoin widely used in the crypto ecosystem, linked to the US dollar.
14. Yields: Profits generated from investing in digital assets. In other words, users deposit assets and receive interest or returns, typically in tokens or crypto assets.
El Dorado Gana is a SuperApp product providing an intermediation service whose sole purpose is to facilitate the User's transfer of resources to the available Protocols. This is done by providing a Self-Custodial Wallet that connects to these Protocols to generate profits.
The Self-Custodial Wallet allows users to connect to the available Protocols. This product leverages a commercial alliance in which El Dorado acts as an intermediary, offering third-party Protocols. Users can enter their USDT or stablecoins into the decentralized wallet to seek profits.
Our product enables you to exchange your stablecoins for other crypto assets with different characteristics, depending on the protocols to which they belong.
This functionality is provided through a specific mandate contract (“Mandate”) to issue orders. This contract authorizes El Dorado to perform one or more operations on your behalf, following your detailed instructions. This includes performing all actions necessary to complete the Swap, meaning that by clicking “accept,” you give the main authorization governed by this contract.
Additionally, El Dorado can never use the resources at its discretion; we only facilitate your access to the protocols if you so choose, supporting the exchange of stablecoins and providing the Self-Custodial Wallet.
Backup of the Account:
The account backup is done by generating a private key, stored in encrypted form in cloud services (e.g., Google Drive). This ensures the keys are secure and accessible only to you, enabling account recovery if your device is lost.
If you lose all your devices, you can recover your account by downloading the encrypted file from a cloud service (e.g., Google Drive). This file allows signing a new transaction to add a new device to the smart contract, restoring account access.
Thus, by this contract, El Dorado performs the following (also called “the service(s)”):
In other words, our commercial alliances allow you to access third-party services should you wish to do so, offering new opportunities.
Through El Dorado, you can access new third-party services or Protocols. However, note that El Dorado does not control these Protocols, external websites, or their features and content.
El Dorado is not responsible for the content or activities of these linked Protocols, including any information, advice, statements, advertising material, accessibility, or any consequences of their use. This can include damages, losses, failures, or problems.
Through this service, you, as a User, permit El Dorado to exchange a stablecoin in your El Dorado wallet for a stablecoin within a Protocol. However, El Dorado solely acts as a communication bridge to help you participate in that Protocol. REMEMBER THAT EL DORADO HAS NO INFLUENCE ON THE PROTOCOL!
Each Protocol has its own terms of use and policies. Therefore, before accessing a Protocol—its services, content, information, or other materials—you must review its policies, rules, terms, and regulations. You bear sole responsibility for taking all precautions to ensure you want to engage with the third-party service.
You do not need to create a separate account from your main El Dorado account. Within your El Dorado account, you will find the El Dorado Gana product. Simply accept the creation of the Self-Custodial Wallet, agree to the specific Mandate contract, select the desired Protocol, and we will provide access.
You can deposit funds using the payment methods available on El Dorado. Through our partnership, you can see daily earnings from third-party products. Note that the minimum deposit amount is 20 USDT.
To do this, you must issue an Instruction indicating your order to deposit funds in a protocol. The Instruction is completed on the platform and must include all required information (the instruction is generated upon acceptance of the specific Mandate contract). We will help you gather as much information as possible to make informed decisions, HOWEVER, WE DO NOT CONTROL THE INFORMATION PRESENTED BY THE PROTOCOL. WE WILL STRIVE TO KEEP IT CURRENT, BUT IT IS YOUR SOLE RESPONSIBILITY TO DECIDE WHETHER TO DEPOSIT FUNDS INTO A THIRD-PARTY PROTOCOL.
Based on the information provided in your Instruction, El Dorado will perform the SWAP and then deposit funds in the Protocol. If El Dorado is unable to complete the deposit in whole or in part due to any third-party cause, we will notify you as soon as possible.
The Parties declare their acceptance and understanding that El Dorado will not be liable for any penalty, surcharge, fine, or damage arising from an inability to complete a deposit fully or on time due to errors in the Instruction or causes beyond El Dorado’s control but attributable to third parties who own the Protocols.
To withdraw, locate the “Withdraw” button in the product and specify the desired amount. Please note that the minimum withdrawal is equivalent to 10 USDT, and the corresponding commission will be deducted accordingly.
Keep in mind that the specifics vary depending on the Available Protocol. Therefore, you must understand the offered service before accepting any Protocol. For instance, some Protocols have different yields, reflection times, settlement times for underlying assets, etc.
El Dorado clarifies that at withdrawal, you have complete freedom and autonomy over your stablecoins, and you are in no way obligated to liquidate them to fiat currency with El Dorado or any third party we recommend.
We prioritize the prevention of money laundering and terrorist financing risks. Please see our policies in our general terms and conditions here:El Dorado P2P Terms and Conditions.
The same compliance principles apply to El Dorado Gana.
To provide this brokerage service, we may charge a stablecoin brokerage fee, disclosed to you while navigating the SuperApp, before you transact with a third party’s Protocol. Initially, you will not be charged for deposits or withdrawals; however, remember that the minimum deposit amount is 20 USDT, and the minimum withdrawal amount is 10 USDM.
Please note that each Protocol is an independent service owned by a third party. THEREFORE, EL DORADO IS NOT RESPONSIBLE FOR PROTOCOL ACTIVITIES. We only allow you to access the Protocol, but do not control it and thus have no responsibility over it.
Accordingly, El Dorado is responsible only if a tool malfunction prevents your access to the Protocol, but not for events occurring within the Protocol itself.
If you encounter a problem with the Platform, please email us atsoporte@eldorado.io describing the issue, and we will do our best to help resolve it.
El Dorado is not liable for damages, losses, or harms resulting from Platform failures arising from server or internet issues. El Dorado will also not be liable for any virus that may infect Users’ devices from accessing or using the Platform or transferring data, files, images, texts, or audio therein. El Dorado does not guarantee continuous or uninterrupted access to the Platform.
The Platform may occasionally be unavailable due to technical difficulties, Internet failures, or other reasons. If so, we will seek to restore service as soon as possible without any liability to El Dorado. El Dorado will not be responsible for user errors or omissions within the Platform.
1. Security: You are responsible for maintaining your device and private key security. This includes, but is not limited to:
2. No El Dorado Possession/Custody: It is critical to understand that El Dorado is not a party to any on-chain transaction in the underlying blockchain networks of the Available Protocols. WE DO NOT HAVE POSSESSION, CUSTODY, OR CONTROL OF ANY CRYPTO ASSETS OR ANY USER FUNDS.
3. Control Over Assets: When you interact with the available Protocols, you retain control over your crypto assets at all times.
4. Legal Compliance: You must comply with all laws and regulations applicable to using El Dorado Gana and the El Dorado Platform.
5. Due Diligence: You should conduct your own research and due diligence before using the Self-Custodial Wallet and connecting to the Protocols, including:
6. Responsible Use: You must use the Wallet responsibly and ethically. This includes, but is not limited to:
We care about your account’s security and provide a way to back up your El Dorado Gana product:
1. Security and Data Protection: El Dorado will implement appropriate security measures to protect users’ personal and financial data, including encryption and other security practices to prevent unauthorized access.
2. Transparency and Communication: We will provide clear and transparent information about how the Self-Custodial Wallet operates, including changes to terms, privacy policies, and fees, notifying users through established channels.
3. Technical Support: We will offer technical support to resolve issues related to using the Self-Custodial Wallet, including troubleshooting and answering questions.
4. Service Integrity: We commit to maintaining the Self-Custodial Wallet’s integrity and availability, performing necessary updates or maintenance. In case of interruptions, we will work to restore service as quickly as possible, minimizing user inconvenience.
5. Legal Compliance: We will comply with all laws and regulations applicable to the Self-Custodial Wallet and crypto asset management under Applicable Law, cooperating with authorities during legal investigations and implementing measures to prevent illegal activities like money laundering or terrorist financing.
6. Limited Liability: Although El Dorado strives to provide a secure, reliable service, we are not liable for losses or damages caused by circumstances beyond our control, such as technical failures, cyber-attacks, or user investment decisions.
7. Non-Custodial, Decentralized Nature: We are not brokers, agents, advisers, or custodians. We do not have a fiduciary relationship or obligation to you for any decisions or activities undertaken while using our Services.
8. Limited Transaction Data: We only have partial information regarding transactions in the Available Protocols, aside from what's publicly available on the blockchain. However, we may collect user data per our Privacy Policy.
El Dorado is not liable for any loss or damage arising from using the Protocol, including but not limited to losses from user errors, technical failures, or fraudulent activities.
You acknowledge that we have no control over the available Protocols beyond public blockchain data. We may collect user information under our Privacy Policy.
The provisions of the General Terms and Conditions of the Platform apply. Additionally, if a user's account on the Platform is canceled or suspended, they cannot access their funds in Dorado Gana.
Any complaint regarding the Platform’s Services can be submitted through the El Dorado website’s “complaints and claims” button. Upon identification, users or a third party representing them may file direct claims free of charge. El Dorado will register and assign a reference number to your claim, communicating it through an appropriate channel. We may forward the claim to a third party if it concerns information or a service not provided by El Dorado.
If El Dorado is responsible for responding, we will do so within fifteen (15) business days from receiving the complaint.
The Platform, including its solutions, designs, graphics, texts, images, distinctive signs, source code, and object code, is owned by El Dorado and protected by intellectual and industrial property laws.
Using the Platform does not grant any transfer of industrial or copyright rights. You must refrain from modifying, disassembling, decompiling, or reverse-engineering the Platform; if you do, you will indemnify El Dorado for resulting damages.
During the execution of the Services, El Dorado may request certain personal data. You must accept El Dorado’s personal data processing policy (available on our official site). El Dorado is committed to complying with data protection regulations, especially as required by Applicable Law.
This Agreement remains in effect while you use the Services. If you want to end it, you must stop using the Services, cancel your account on the Platform, and, if you want us to delete your data from our database, notify us. Please note that we may be required by law to retain certain personal data.
El Dorado may cease to provide its Services and suspend your Platform access if you violate these terms and conditions or if El Dorado deems you fail to meet its security policies.
This Agreement is governed by the Applicable Law of El Salvador.
You will receive notifications at the email or phone number provided during registration. El Dorado will receive notifications atsoporte@eldorado.io.
If a dispute arises between El Dorado and you regarding this Agreement, we will first attempt direct settlement for thirty (30) calendar days, starting from the moment one Party notifies the other of the dispute. If no agreement is reached within those thirty (30) days, the dispute will be resolved by the ordinary courts of El Salvador.
El Dorado may modify these terms whenever necessary. Five (5) business days before any changes, El Dorado will notify you through established channels. We will consider that you accept the modifications if you continue to use the Services thereafter.
This is the entire Agreement!
These Terms and Conditions, along with any annexes, supersede any prior agreement, verbal or written, regarding this subject matter. Any matters not covered here are governed by the Platform’s general terms and conditions.
Available Protocols
| Name of the Protocol | Cryptoactive | Underlying Asset | Website | Whitepaper | APY |
|---|---|---|---|---|---|
| Mountain Protocol | USDM | United States Treasury Bonds | USDM - Mountain Protocol | Getting Started | Mountain Protocol | 4.5% per year |
Mountain Protocol is an innovative protocol designed to offer stability and security in the stablecoin ecosystem. Based on a US Treasury-backed asset framework, this protocol facilitates the issuance of a stablecoin, USDM, which aims to be a safe haven against market volatility.
USDM is a stablecoin pegged to the US dollar, issued under the Mountain Protocol, designed to provide liquidity and stability in the ecosystem.
Benefits for Consumers:
| Cryptoactive | Underlying Asset | Whitepaper | APY |
|---|---|---|---|
| WBTC | Bitcoin | WBTC Whitepaper | 0 |
WBTC (Wrapped Bitcoin) is a token representing Bitcoin (BTC) on the Ethereum blockchain, enabling Ethereum users to leverage Bitcoin’s value within dApps, such as decentralized exchanges (DEXs) and decentralized finance (DeFi) platforms.
Security and Compliance:
Custody Backing: BTC backing each WBTC is stored by certified custodians with robust security protocols.
Regular Audits: BTC reserves are regularly audited to ensure a 1:1 backing for every WBTC issued.
Secure Transactions: Based on Ethereum’s blockchain, WBTC transactions benefit from its inherent security.
Issuance Process:
Swaps:
ERC-20 standard:
Custody and Security:
Interoperability:
Governance:
The wBTC smart contracts are controlled by a DAO, comprising custodians, merchants, and some institutions. The DAO decides on contract changes and the addition/removal of members. Initially, this DAO had 16 members, including custodians, merchants, and entities like MakerDAO, Blockfolio, Gnos, or Loopring.
Associated Risks:
Though WBTC is designed for security and transparency, inherent risks exist, such as potential custodian hacks, regulatory changes, or technical issues (vulnerabilities in smart contracts or the blockchain). Nonetheless, regular audits and trusted custodians aim to mitigate these risks.
| Cryptoactive | Underlying Asset | Whitepaper | APY |
|---|---|---|---|
| WETH | Ether | WETH Whitepaper | 0 |
WETH is an ERC-20 token on Ethereum that represents 1 Ether (ETH). ETH is used to pay for Ethereum network transactions, while WETH cannot be used for transaction fees but maintains compatibility with ERC-20 dApps.
Security and Compliance:
Associated Risks:
While WETH aims for security and transparency, potential risks include smart contract vulnerabilities, Ether volatility, Ethereum network congestion, or issues with platforms that manage WETH. Nonetheless, regular audits and automated processes reduce these risks, providing a strong user framework.
Benefits for Consumers: