Terms and Conditions

1. Introduction

Welcome to Lifti, a pioneering platform leveraging blockchain technology to transform the logistics of both international and intercity travel. We offer a unique marketplace for travelers to list available luggage space, and for senders and receivers to bid for its use. By accessing and utilizing Lifti’s services, you are agreeing to adhere to these Terms and Conditions, which are fundamental to your experience with Lifti.

2. Deﬁnitions

Traveler: A registered user of Lifti who travels and has available luggage space to
Sender/Receiver: A user who looks to send items through the luggage space offered by a
Order: A detailed listing by a Traveler, including travel itinerary, available luggage space, and other pertinent
Bid: A proposal from a Sender/Receiver to utilize a Traveler’s listed luggage space.
Token: Lifti’s custom digital currency for facilitating
Staking: The action of holding Tokens in a digital wallet to support Lifti’s network operations and potentially earn

3. User Registration and Accounts

To access Lifti’s services, users must register an account with accurate and up-to-date information. This includes undergoing a Know Your Customer (KYC) process to ensure security and compliance. Users are responsible for the conﬁdentiality and security of their account information. Lifti reserves the right to suspend or terminate accounts

involved in suspicious or unauthorized activities.

Accuracy and Truthfulness of Information

Users are required to provide accurate and current information at the time of registration.
Regular updates to account information are necessary to maintain its
Consequences of Providing False Information: Providing false or misleading information may result in immediate suspension or termination of the user account.

Account Security and Conﬁdentiality

Users are responsible for maintaining the conﬁdentiality of their account details, including
Any unauthorized use of a user’s account should be reported to Lifti

4. Service Description

Lifti provides a platform for both international and intercity Travelers to list available

luggage space in Orders. Senders/Receivers can browse these Orders and place Bids for shipping items. Transactions are securely facilitated using Lifti’s custom Token.

Bidding Process Explanation

Travelers list available luggage space in Orders, including detailed information about their itinerary and luggage
Senders/Receivers can browse these Orders and place Bids to utilize the available space for their
The bidding process is competitive, and the Traveler has the discretion to accept a Bid based on their preferences and the bid

Roles in Transactions

Travelers: Offer luggage space and have the authority to accept or reject
Senders/Receivers: Place Bids on available luggage space and are bound by the terms of the Bid once accepted by the

5. Use of Blockchain Technology And LFT Token

Blockchain technology is integral to Lifti, ensuring secure, transparent, and reliable transactions. This technology underpins the trustworthiness and eﬃciency of our services.

Token Acquisition and Value

Tokens can be acquired through purchase on Lifti’s platform or through participating external
The value of Tokens may ﬂuctuate based on market

Usage Limitations and Expiry

Tokens are used exclusively for transactions within the Lifti platform, including payment of fees and
Tokens may have an expiry date or usage limitations, which will be clearly communicated to

Storage and Security

Users are responsible for the secure storage of their Tokens in their digital wallets.
Lifti is not liable for the loss of Tokens due to user negligence or security breaches in individual user

6. Payments and Fees

At Lifti, we employ a transparent and fair fee structure for our services, ensuring that both Travelers and Senders/Receivers contribute to the sustainability and quality of our platform.

Fee for Senders/Receivers

Transaction Fee: When a Sender/Receiver places a successful bid to use a Traveler’s luggage space, they will incur a transaction
Amount: This fee is calculated as 10% of the total bid
Payment Timing: The fee is automatically deducted from the bid amount at the time of transaction conﬁrmation.

Fee for Travelers

Service Fee: Travelers providing luggage space will be charged a service fee.
Amount: This fee is also set at 10% of the total bid amount received for the luggage
Deduction Method: The fee is deducted from the payment due to the Traveler at the time of transaction

Use of Tokens

All fees and transactions are conducted using Lifti’s custom digital
Users must ensure they have suﬃcient Tokens in their accounts to cover the fees and

Invoicing and Receipts

Upon completion of a transaction, Lifti will provide electronic invoices and receipts to both the Traveler and the Sender/Receiver, detailing the transaction and the fees

7. Refund and Cancellation Policy

Our refund and cancellation policy is designed to protect both Travelers and

Senders/Receivers, while also respecting the integrity of the escrow contract system integral to Lifti’s blockchain-based transactions.

Cancellation Before Matching

Travelers and Senders/Receivers: Can cancel their Orders or Bids at any time before a match is made without incurring any
Refunds: Any Tokens held in escrow for these Orders or Bids will be fully refunded.

Cancellation After Matching but Before Transaction Conﬁrmation

Time Frame: A limited window is available for cancellation after an Order and Bid have been matched but before the transaction is conﬁrmed.
Penalties: A cancellation fee may be applied to compensate the other party for the inconvenience caused by the
Refunds: The remaining amount, after deducting the cancellation fee, will be refunded to the party initiating the

Cancellation After Transaction Conﬁrmation

Escrow Contract: Once a transaction is conﬁrmed, the Tokens are locked in an escrow contract. Cancellation at this stage is generally not
Exceptions: Cancellations after conﬁrmation may be considered in exceptional circumstances, such as ﬂight cancellations, legal

impediments, or other unforeseeable events.

Dispute Resolution: In such cases, the dispute resolution process as outlined in the Terms and Conditions will be invoked to determine the outcome.

Refund Process

Initiation: Eligible refunds will be initiated by Lifti upon the cancellation of an Order or Bid, or as determined by the dispute resolution
Method: Refunds will be processed in Lifti’s Tokens and credited to the user’s
Timing: Refunds will typically be processed within 7 business days from the date of cancellation or dispute

Non-Refundable Fees

Service Fees: Any service fees charged by Lifti at the time of transaction conﬁrmation are non-refundable.
Cancellation Fees: If applicable, cancellation fees are also non-refundable.

Modiﬁcation of Policy

Lifti reserves the right to modify this refund and cancellation policy. Any changes will be communicated to users and will become effective from the speciﬁed

Contact and Queries

Users with questions or concerns regarding cancellations or refunds can contact Lifti at contact@lifti.io.

Important Considerations

User Responsibility: It is the responsibility of both Travelers and

Senders/Receivers to understand the terms of the escrow contract before conﬁrming a transaction.

Fairness and Discretion: Lifti will handle each cancellation and refund request on a case-by-case basis, striving for fairness and discretion in accordance with our platform’s policies and user

Changes to Fee Structure

Lifti reserves the right to modify the fee structure. Any changes will be communicated to users in advance and will be applicable from the date speciﬁed in the notiﬁcation.

Compliance and Transparency

Lifti is committed to compliance with all relevant ﬁnancial regulations and to maintaining transparency in its fee structure and

5. Duration of Staking

Lifti offers multiple staking durations, catering to the varied needs of our users:

One-Month Staking: For a short-term investment, this option locks tokens for a period of one
Three-Month Staking: A medium-term commitment, locking tokens for three months.
Six-Month Staking: The longest ﬁxed-term option, with tokens locked for six months.
Flexible Staking: In addition to these ﬁxed durations, Lifti also offers a ﬂexible staking option. This allows users to stake their tokens without a ﬁxed lock-in period, offering greater ﬂexibility. However, the yield for ﬂexible staking may vary and is typically lower than the ﬁxed-term

For all staking options, once initiated, the tokens will remain locked for the duration of the chosen period (except for the ﬂexible staking option), ensuring stability and predictability in the staking pool

6. Rewards and Calculation

The rewards for staking LFT Tokens are calculated based on the duration of staking and the type of staking chosen:

One-Month Staking: Offers a 10% annualized yield. Daily earnings are calculated based on this rate and added to the user’s account starting 24 hours after staking begins.
Three-Month Staking: Provides a 20% annualized yield. Earnings accrue daily, with the ﬁrst addition to the account occurring 24 hours after the start of staking.

Six-Month Staking: Comes with a 30% annualized yield. Daily earnings, following this yield rate, are credited to the account starting 24 hours post
Flexible Staking: This option offers a standard annualized yield of 8%. Since there is no ﬁxed lock-in period, the rewards are more conservative. Earnings are calculated daily, similar to the ﬁxed-term options, and are added to the user’s account on a daily basis, starting 24 hours after the staking process is
In all scenarios, the daily earnings are a pro-rata calculation of the respective annualized yield, based on the amount staked.

Early Unstaking Procedure

**”While Lifti encourages stakeholders to complete their chosen staking period, early unstaking is permissible under the following conditions:

If a user chooses to unstake before the end of their selected period, they can do so. However, any proﬁts accrued until that point will be deducted from their principal
The remaining principal amount, after the deduction of accrued proﬁts, will be returned.
There is a 24-hour processing period for early unstaking requests. This time is required to calculate and deduct the earned proﬁts and to process the return of the remaining principal

This early unstaking option provides ﬂexibility while maintaining a fair system for all users participating in the staking program.

7. Risks Disclosure

“Staking involves risks, including market volatility and potential changes in the value of LFT Tokens. We encourage users to carefully consider these risks before participating in staking. Lifti is not liable for market-driven changes that affect the value of staked assets.”

8. Regulatory Compliance

“Our staking feature complies with relevant ﬁnancial regulations. Users are responsible for ensuring their compliance with local laws and regulations related to Lifti Token and staking.”

9. Amendments to Terms

“Lifti reserves the right to modify these terms and conditions. Any changes will be communicated to users through our platform, and continued participation in staking will constitute acceptance of the new terms.”

10. Liability Limitations

“Lifti is not liable for unforeseen issues, technical failures, or market changes that may

impact the staking process. Our liability is limited to the extent permitted by law, and we strive to maintain a secure and reliable staking service.”

11. Dispute Resolution

“Any disputes related to staking will be resolved through our established procedures, which may include arbitration or legal jurisdiction based on the location of Lifti’s headquarters.”

12. Data Privacy and Security

“We are committed to protecting the privacy and security of our users’ data. Our practices comply with applicable data protection laws, and we employ robust security measures to safeguard user information and transactions.”

13. Termination of Staking Service

“Either Lifti or the user can terminate their participation in the staking service under the terms outlined on our platform. The process for handling remaining staked assets will be executed as per these terms.”

14. Contact Information

“For any queries or issues related to staking, users can contact Lifti’s support team through the provided contact details on our platform.”

15. Acceptance of Terms

“By participating in the staking process, users acknowledge and agree to these terms and conditions. It is the responsibility of each user to read and understand these terms before staking.”

16. Governing Law

“These terms and conditions are governed by the laws of the jurisdiction in which Lifti is registered, and any legal proceedings related to these terms will be conducted in the jurisdiction.”

9. User Conduct and Responsibilities

Users must conduct themselves responsibly and ethically on Lifti. Fraud,

misrepresentation, and illegal activities are strictly prohibited. Compliance with all relevant laws and regulations is mandatory.

10. Intellectual Property Rights

All content on Lifti is owned by Lifti or its licensors and is protected by intellectual property laws. This includes, but is not limited to, website design, text, graphics, and software.

11. Data Protection and Privacy

Lifti is committed to protecting user privacy. Our data protection and privacy practices are detailed in our Privacy Policy, forming a part of these Terms.

12. Liability and Indemniﬁcation

Lifti is not liable for damages arising from the use or inability to use our services. Users agree to indemnify Lifti against claims related to their use of the platform.

13. Dispute Resolution

Lifti is committed to providing a fair and effective dispute resolution process. This policy outlines the steps and procedures for resolving disputes that may arise between Travelers, Senders/Receivers, or between users and Lifti.

Initial Dispute Resolution Attempt

User Responsibility: Users are encouraged to ﬁrst attempt to resolve any disputes among themselves, using the communication tools provided on
Time Frame: Users should attempt to resolve disputes within a 2 days from the occurrence of the

Formal Dispute Notiﬁcation

Procedure: If the dispute cannot be resolved directly between users, a formal dispute notiﬁcation must be submitted to Lifti via contact@lifti.io.
Information Required: The notiﬁcation should include a detailed description of the dispute, any relevant communication between the parties, and the desired resolution.

Dispute Review by Lifti

Acknowledgment of Receipt: Lifti will acknowledge the receipt of the dispute notiﬁcation and may request additional information if
Review Process: Lifti will review the dispute, considering all provided information and any relevant transaction data from the
Time Frame: Lifti aims to review and respond to the dispute within a 2 business days.

Resolution Proposal

Outcome: Based on the review, Lifti will propose a resolution to the
User Acceptance: Both parties involved in the dispute will be asked to accept the proposed resolution. If both parties agree, the resolution will be considered binding.

Escalation to Arbitration

Conditions: If the proposed resolution is not acceptable to either party, the dispute may be escalated to
Arbitration Process: An independent arbitrator, agreed upon by both parties, will be appointed to review the dispute and make a binding

Final Decision

Arbitrator’s Decision: The decision made by the arbitrator will be ﬁnal and binding on all parties
Implementation: Lifti will facilitate the implementation of the arbitrator’s

Costs of Arbitration

Responsibility: The costs of arbitration will typically be borne by the party that does not prevail in the dispute. However, the arbitrator has the discretion to allocate costs differently.

Conﬁdentiality

Privacy of Proceedings: All dispute resolution proceedings, including arbitration, will be kept conﬁdential to protect the privacy and interests of all parties involved.

Policy Modiﬁcation

Changes: Lifti reserves the right to modify this dispute resolution policy. Any changes will be communicated to users and will become effective from the speciﬁed

Contact and Support

Users with questions about the dispute resolution process can contact Lifti at contact@lifti.io for assistance and clariﬁcation.

Important Considerations

Good Faith Negotiation: All parties are expected to engage in the dispute resolution process in good

14. Legal Compliance Jurisdiction And Permissible Shipping

Compliance with Laws and Regulations

Users of Lifti, whether as Travelers, Senders, or Receivers, must comply with all applicable laws and regulations of their respective countries. This includes adherence to customs and import/export laws, as well as regulations concerning the transportation of goods and services.

Prohibited Items

Illegal Items: The shipment of illegal or prohibited items through Lifti’s platform is strictly forbidden. This includes, but is not limited to, narcotics, illegal drugs,weapons, hazardous materials, and any goods prohibited by law.
Responsibility: It is the responsibility of the Sender/Receiver to ensure that the items they are shipping are legal and permissible under the laws of both the origin and destination.

Legal Consequences of Non-Compliance

Reporting and Enforcement: Lifti reserves the right to report any suspected illegal activities to the relevant authorities. This includes providing information about users involved in such activities.

Legal Action: Users found to be engaging in the shipment of illegal or prohibited items will face legal action, which may include suspension or termination of their account and potential legal prosecution under the laws of the relevant jurisdiction.

Cooperation with Authorities: Lifti will fully cooperate with law enforcement and other authorities in any investigation related to illegal activities on its

User Acknowledgment and Agreement

By using Lifti’s services, users acknowledge and agree to comply with these terms. They understand the legal implications of shipping prohibited items and agree to hold Lifti harmless from any legal action or liability that arises from their violation of these terms.Lifti operates in compliance with applicable laws and regulations in each jurisdiction where it offers services. This adherence extends to, but is not limited to, regulations concerning blockchain technology, digital currencies, international and intercity transportation, data protection, and consumer rights.

Blockchain and Digital Currency Regulations: Lifti complies with laws governing blockchain technology and the use of digital currencies. This includes,but is not limited to, anti-money laundering (AML) and combating the ﬁnancing of terrorism (CFT) regulations.

Transportation and Logistics Laws: Our services conform to international and local laws governing transportation and logistics, including customs and import/export regulations where applicable.

Data Protection Laws: Lifti adheres to stringent data protection laws, ensuring user data is handled securely and in compliance with privacy regulations, such as the General Data Protection Regulation (GDPR) for users in or from the European Union.

Jurisdiction and Governing Law

Jurisdiction: The Terms and Conditions of Lifti are governed by and construed in accordance with the laws of the jurisdiction where Lifti is headquartered, unless otherwise required by the laws of the jurisdiction where the user
International Users: For users accessing Lifti from different international jurisdictions, the local laws of these jurisdictions will apply to the extent that they do not conﬂict with the laws of Lifti’s headquarters.

Dispute Settlement: Any disputes arising under these Terms and Conditions will be subject to the exclusive jurisdiction of the competent courts located in the jurisdiction of Lifti’s headquarters, unless mandatory applicable law requires otherwise.

Modiﬁcations Due to Legal Changes

Adaptability: Lifti reserves the right to modify its services, Terms and Conditions, and policies to remain compliant with any changes in laws and
Notiﬁcation of Changes: Users will be notiﬁed of any such changes in a timely manner through appropriate communication channels, such as emailnotiﬁcations or announcements on Lifti’s platform.

User Responsibility

Awareness and Compliance: Users are responsible for ensuring their use of Lifti’s services complies with the laws and regulations of their respective
Indemniﬁcation: Users agree to indemnify and hold harmless Lifti from any claims, actions, or demands, including legal and accounting fees, alleging or resulting from their use of the service or their breach of these Terms and

Conditions.

Pricing Structure

Distance and Weight-Based Pricing: Lifti offers a dynamic pricing model that is based on both the distance of travel and the weight of the items being transported. Detailed pricing information, including how charges are calculated based on these factors, is readily available and transparently displayed within our app.
Access to Pricing Details: Users are encouraged to refer to the Lifti app for the most up-to-date and speciﬁc pricing details. This approach ensures that users always have access to the latest pricing information, accommodating any changes or updates that may occur over time.

Transparency and Clarity: Our commitment is to maintain transparency in our pricing structure. We believe in providing our users with all the necessary information to make informed decisions regarding the use of our platform for their logistics needs.

Legal Action and Compliance

In accordance with UAE law and international standards, Lifti explicitly reserves the right to pursue legal action to the fullest extent permitted by law in instances where either a traveler or sender fails to comply with the agreed terms of service. This includes situations where a traveler disappears after receiving a parcel or fails to cooperate with the sender or Lifti, and similarly, where a sender has been found to have provided illegal items for transport. Such actions are considered a breach of the service agreement and may result in immediate suspension of service, reporting to legal authorities, and initiation of legal proceedings to seek redress and compensation for any damages incurred. Lifti is committed to enforcing its policies to ensure the safety and legality of all transactions conducted through its platform.