Terms of service

Ducat operates a settlement desk that sells and buys DUCAT, a BEP-20 token on BNB Smart Chain in which one unit represents one gram of allocated gold held in custody.

Ducat does not take custody of your wallet or your private keys at any point. Every purchase, sale, transfer and redemption request is a transaction you sign yourself from a wallet you control. We cannot move, freeze or recover tokens in your wallet, and we cannot reverse a transaction you have signed.

Ducat is not a bank, a broker, an investment adviser, or a custodian of your tokens. Nothing on this site is investment, tax or legal advice.

You must be at least 18 years old and legally capable of entering into this agreement. You must not be resident in, or accessing the service from, a jurisdiction where doing so would breach applicable law or sanctions, and you must not be subject to any sanctions list we are required to screen against.

You are responsible for determining whether your use of the service is lawful where you are. Availability of the site in your country is not a representation that it is.

An account requires a valid email address you control. You are responsible for your credentials and for activity under your account. Tell us promptly if you believe it has been accessed without your authorisation.

One person, one account. Accounts created to obtain rewards more than once, to evade limits, or to circumvent a suspension may be closed and any associated rewards voided.

Your account and your wallet are separate. Closing your account does not affect tokens you hold, which remain yours and remain in your wallet.

Identity verification is required before you may purchase DUCAT, and before physical redemption. You agree to provide accurate identity information and genuine documents.

Selling is not conditional on verification. If you already hold DUCAT you may always sell it back to the desk, subject only to the desk having settlement liquidity available.

We may refuse, suspend or reverse verification where documents cannot be validated, where information is inconsistent, or where we are required to do so. We retain verification records for as long as applicable law requires, as described in the privacy policy.

Prices are derived from a gold price oracle and converted to a per-gram figure by the desk contract, which applies its published spread. The price you receive is the price the contract computes at the moment your transaction executes, not the price displayed when you opened the page.

You set a minimum acceptable amount when you trade. If the market moves beyond it before your transaction confirms, the contract reverts and no trade occurs. Network fees are charged by BNB Smart Chain, not by Ducat, and are payable whether or not a transaction succeeds.

The desk may pause trading, including automatically, when the price feed is stale or deviating, when the reserve cannot be read, or when desk inventory or settlement liquidity is exhausted. A pause is an operational state, not a cancellation of anything you hold.

Trade sizes may be capped per transaction. Once a transaction is confirmed on chain it is final and cannot be reversed by us.

The mint controller enforces that token supply can never exceed the reserve figure it holds. This check runs inside every issuance, so over-issuance is prevented rather than detected afterwards.

What the contract cannot do is verify that the metal exists, is allocated, or is insured. That rests on the custodian, the assay and independent attestation. At the date of these terms the reserve figure is a fixed, attested Genesis amount; live proof-of-reserve oracles are deployed but not yet activated, and issuance is capped at that Genesis amount until they are.

We do not represent that the contracts have been independently audited. At the date of these terms they have not been.

Verified customers may request redemption of DUCAT either for physical metal or for cash settlement. Submitting a request locks the corresponding tokens in the redemption contract; they are burned only once settlement completes.

A request that is declined, cancelled or allowed to expire unlocks your tokens automatically. Expiry is enforced by the contract, not by us.

Physical redemption is subject to minimum and maximum sizes set in the contract, to fabrication and shipping costs quoted separately and confirmed by you before dispatch, and to delivery being lawful and practicable to your address. You are responsible for any import duty or tax in your jurisdiction. Risk in the metal passes on delivery to the address you supply, and you are responsible for the accuracy of that address.

A referral code is optional. It does not affect price, spread, limits or access, and no purchase requires one.

Where a referral applies, a reward of 0.5% of the referred person’s first purchase becomes due to each of the two parties. Signing up alone earns nothing. Only the first purchase qualifies. The rate may change prospectively; the rate that applies is the one in effect when the qualifying purchase is made.

A referral reward is an obligation recorded against your account and settled by transfer to your linked wallet, in batches. It is not held on chain, is not part of your token balance, and is not redeemable for metal until it has been transferred to you. We require a linked wallet address in order to pay it.

We may withhold or void a reward that is self-referred, duplicated across accounts controlled by the same person, or obtained through misrepresentation. Rewards are not transferable and confer no other entitlement. A single reward is capped as published on the referral page.

The desk spread is applied by the contract and is visible before you confirm any trade. Network fees are charged by the blockchain. Fabrication, insurance and shipping for physical redemption are quoted per request and confirmed by you before anything is dispatched.

We do not charge account, custody or inactivity fees. Any new fee will be published before it takes effect.

You agree not to use the service to:

• launder money, finance terrorism, or evade sanctions;
• impersonate another person or supply false identity documents;
• manipulate the desk, the price feed, or the referral scheme, including through automated or coordinated activity;
• attack, probe or disrupt the site, its infrastructure or its contracts, other than through a responsible disclosure to us;
• breach any applicable law or the rights of any third party.

We may suspend or close an account where we reasonably believe these terms have been breached, where we are legally required to, or where verification cannot be completed. Where we are permitted to explain why, we will.

Suspension of an account does not affect tokens in your wallet. You may stop using the service at any time; clauses that by their nature survive termination continue to apply.

Access depends on your jurisdiction. We do not guarantee uninterrupted availability of the site, the application or the desk, and we may suspend any of them for maintenance, for security, or in response to conditions on the underlying network.

The blockchain, the price oracles, the wallet software and the custodian are third-party infrastructure we do not control.

You accept the risks set out in the risk disclosure, which forms part of these terms. In particular: the gold price can fall as well as rise and that risk is entirely yours; the contracts are not independently audited; and losing access to your wallet means losing access to your tokens, permanently and irrecoverably.

To the fullest extent permitted by law, Ducat is not liable for losses arising from movements in the price of gold, from third-party infrastructure, from your own key management, or from your failure to supply accurate information. Nothing in these terms limits liability for fraud, for death or personal injury caused by negligence, or for any liability that cannot lawfully be excluded.

Nothing in these terms affects consumer rights you have under the mandatory law of your country of residence.

We process personal data as described in the privacy policy, which forms part of these terms. Identity documents are stored per-object with access granted individually, not in a public bucket.

The Ducat name, logo, site design and written content belong to Ducat. The deployed smart contracts are public and verifiable on BscScan; nothing here restricts your ability to read, verify or interact with them directly.

We may update these terms. Each version carries a version identifier and a date. Where a change materially affects your rights or obligations we will ask you to accept the new version when you next sign in, and record which version you accepted and when.

Continuing to use the service after a material change has been accepted constitutes agreement to it. If you do not accept a new version you should stop using the service; your tokens remain yours and you may still sell or transfer them.

Please contact us first — most disputes are resolved fastest that way, and we would rather fix a problem than argue about it. Reach us through the support page.

The governing law and forum for any dispute that cannot be resolved informally will be stated here once the operating entity and its jurisdiction are finalised. Until then, nothing in this clause limits any right you have to bring proceedings in the courts of your country of residence.

Questions about these terms go through the support page. We answer in plain language.