Terms of use

These terms govern the use of the Krows platform, provided by KROWS NEXORA, S.L.U. (“Krows”, “we”), by anyone who visits it or connects a wallet (“user”, “you”). By connecting your wallet or using any feature you accept these terms, the privacy policy and the acceptable use rules. If you do not agree, do not use Krows.

You declare that (a) you are over 18 and have legal capacity; (b) you are not a resident or national of, nor located in, a restricted jurisdiction, and you are not a “US person”; (c) you are not on EU, UN, UK or US sanctions lists; and (d) you use Krows on your own behalf and not for third parties without authorization. We may restrict access if there are signs these requirements are not met.

Krows does not use usernames or passwords: you identify yourself with your wallet’s public address. You are solely responsible for safeguarding your wallet, private key and recovery phrase. Krows never knows them, cannot recover them and will never ask for them. Any operation signed with your wallet is deemed made by you.

Krows offers a board where founders announce their rounds and tools to follow your investments, vote and talk to other investors. Krows is not a party to any investment. Investments take place on each founder’s website, bilaterally between your wallet and the project’s contracts. Krows:

• does not hold or receive your funds or tokens;
• does not issue, sell, place or market third-party tokens;
• does not provide investment, tax or legal advice;
• does not guarantee the returns, liquidity or success of any project.

“Featured” projects have paid for visibility and are always identified as such; they are not a recommendation.

Each round’s funds are deposited in a treasury controlled by a smart contract. The rules are those published on the startup page and on the Krows website: rounds are all-or-nothing and, if a round does not reach its goal by the closing date (90 days at most), each investor is refunded; while the round is open, each investor may withdraw their contribution; milestones are released after a 3-day vote if at least 20% of issued tokens take part and more than 51% of votes cast are in favour, and a rejected milestone cannot be requested again for 7 days; the referendum opens when investors holding 40% of the tokens request it (or for abandonment or the startup’s critical level), lasts 3 days, requires 40% turnout and passes with 67%, with proportional distribution of what is left; and free withdrawals, for founders and startups with a trust score of 76 or more, are capped at 10% of the treasury every 30 days and can be vetoed within 48 hours.

These rules are executed automatically by the contracts. If there is a discrepancy between the description and the deployed code, what the contract executes prevails, without prejudice to your rights against the founder.

The contract rules do not allow Krows or the founder to move money out of a treasury outside them: it only goes to investors (refunds and distributions), to the founder (the advance, if chosen when creating the round, approved milestones and unvetoed withdrawals) and to Krows for its fee, once and with the cap fixed when the round was created.

Voting on milestones, requesting and voting the referendum, vetoing withdrawals and requesting milestones do not need Krows’ signature. If Krows stopped existing, investors can keep voting and recover what remains. Also, if the founder goes 6 months without requesting milestones or withdrawals, any investor can open the closing referendum without waiting to reach 40%.

On the live network (mainnet), the contract will be deployed after an external audit and will be immutable: nobody, including Krows, will be able to change its rules. While Krows runs on the test network (devnet), the contract can still be updated.

Krows calculates a trust score from 0 to 100 for users and startups by applying public rules to their activity. The calculation is automated and may limit features (for example, not creating startups below 31).

Whenever a rule limits a feature you will get a notice and an email with the rule applied, your score and how to request a review. You have the right to have a person from the team review the decision, to express your view and to contest it from the Trust score page («Request human review» button); we will reply within one month at most. Serious restrictions (account suspension) are always reviewed by a person.

People related to a startup are its founder, its team members and advisers, its partners, their relatives up to the second degree and any company controlled by any of them.

Related people can hold their startup’s tokens, but cannot vote on its milestones or free withdrawals, or request or vote on its referendum. When you invest you declare that you are not related to the startup. Each startup’s profile shows how much of its tokens its declared team holds.

If it is confirmed that a related person has voted, or that the founder has not declared someone related, Krows lowers the trust score of the founder and the startup, informs its backers and may apply the other measures in these Terms. The decision is communicated with the reason and how to appeal.

To protect users, Krows may: review and approve or reject listings before publishing them (it only checks that they are complete and well presented); moderate content and chats; investigate reports; remove a startup from the board; suspend accounts; and convene the closing referendum for an abandoned or critical startup, which investors decide by vote.

Each measure is communicated to the affected person by email and in the app with the rule applied, the facts and how to appeal. Krows can never close a startup on its own or transfer funds from a treasury to itself or to third parties other than those set out in the rules.

When you invest you pay a Krows fee of 2% of the amount plus 0.25 USDC on every investment. With Krows Pro the fee is 1.5% plus 0.25 USDC. It is added to the amount, shown before you sign and held in the contract with your investment until the round ends.

Reflection period. During the 4 calendar days after your first investment in a round, and while the round is still open, you can withdraw from your Portfolio without giving reasons and get everything back, fee included. Anything you invest again within those 4 days joins the same period and does not extend it. If you invest again after it has ended, a new 4-day period starts for that investment and any you make within it. After the period you can still withdraw your investment while the round is open, but the fee is not refunded. If the round does not reach its goal or the founder cancels it, you get your full investment back; the fee is not refunded, as it covers the service already provided and network costs.

If the round succeeds, the startup pays Krows 4% of the amount raised, deducted once by the contract. Fee caps are fixed in each round when it is created and Krows cannot raise them afterwards. Krows may change its prices with at least 30 days’ notice on the Website and by email; a change never affects investments already made or rounds already open. Solana network fees needed to invest, vote or withdraw are paid by Krows. Buying USDC by card is provided by an external provider, which shows its fee before payment.

The marketplace between investors is not available; when it is, its fees will be published before it is activated.

Krows Pro costs €19.99 a month or €159.99 a year (or the same in $ depending on your country), taxes included, and gives access to the full information on every startup, a fee of 1.5% + 0.25 USDC per investment and messaging 3 new founders a month through Krows messages (with each of them, unlimited messages). The founder can mute a conversation.

Renewal. Pro renews automatically every month or every year, depending on the plan you choose, on the day you subscribed, and is charged to the card you gave Stripe. Yearly subscriptions that are still active renew every year and we will email you before each renewal. You can cancel at any time in Settings › Plan and invoices: you keep Pro until the end of the paid period and are not charged again. Cancelling is as easy as subscribing.

Right of withdrawal. You have 14 calendar days from subscribing to withdraw, without giving reasons, from Settings › Plan and invoices or by writing to hello@krows.app. Since you expressly ask for Pro to start immediately when subscribing, withdrawing cancels it at once and we refund the part of the period you have not used, calculated by days, within 14 days at most and to the same payment method.

Discounts. If you use a discount code, the payment summary shows how long the promotion lasts and the price you will pay afterwards; when it ends the regular price applies.

Price changes. We will notify you at least 30 days before any increase and you can cancel before it applies.

Investing in startups and crypto-assets carries high risks, including the total loss of what you invest, lack of liquidity, failures or vulnerabilities in smart contracts and the Solana network, stablecoin de-pegging and regulatory or tax changes. You declare you have read the risk disclosure and that you invest at your own risk.

To the maximum extent permitted by law, Krows is not liable for: (a) users’ investment decisions; (b) founders’ conduct, information or breaches; (c) losses from the loss or theft of your wallet or phrase; (d) failures of the Solana network, stablecoins or third-party services; (e) Website interruptions for maintenance or causes beyond our control. Krows’s total liability to you for any reason is limited to the fees Krows received from your operations in the previous twelve months.

Nothing above limits liability for willful misconduct or gross negligence, or consumer rights that cannot be excluded.

You can stop using Krows whenever you want and deactivate or delete your account in Settings. Krows may suspend or restrict your access if you breach these terms or the acceptable use rules, or when required by law.

If we do, we will send you a statement of reasons with the rule applied, the facts, whether the decision was automated or made by a person and how to appeal. You can appeal for 6 months and a person other than the one who decided will review it. Suspension does not affect the tokens in your wallet or your right to receive treasury distributions, which depend on the contracts.

We may modify these terms. Material changes will be announced on the Website and by email at least 15 days in advance; if you disagree, you can stop using Krows and cancel Pro at no cost.

For any complaint, write to hello@krows.app: we will reply within one month at most. Krows is not a member of any consumer arbitration scheme; if you are not satisfied, you can go to your local consumer authorities or to the courts.

These terms are governed by Spanish law and, for disputes, by the courts of Madrid, except the venue that applies to consumers, who can always claim in the courts of their own domicile.