1. What oak is
oak.credit ("oak", "we") is a website that lets you interact with the OakLoans smart contract on Robinhood Chain. The contract matches lenders and borrowers directly. oak is not a bank, not a broker, not a lender, and does not hold your funds. Every loan is a contract between two wallets executed by code you can read on the code page.
2. Who can use it
You must be legally allowed to hold and transfer the tokens involved where you live, and you must not be a person or entity subject to sanctions. You are responsible for your own tax and reporting. If any of that is unclear for you, do not use oak.
3. Loans are final
When you take an offer, the terms are fixed by the contract: principal, interest, due date, collateral. If you do not repay by the due timestamp the lender may claim your collateral and you have no further claim to it. If you lend and the borrower does not repay, you receive the collateral and not the dollars, and its value may be lower than the amount you lent. oak cannot reverse, pause or alter an active loan.
4. Your keys, your wallet
You sign every transaction with your own wallet. Nothing you do on oak can be undone by us. Keep your keys safe. The /dev demo uses a shared test account on a test network with tokens that have no value.
5. Third-party tokens
The stock tokens are issued by Robinhood and USDG by Paxos. Their contracts, their transfer rules, their pauses and any block on an address are theirs, not ours. Prices shown in the app come from public decentralised exchanges and may be wrong, stale or manipulated; the contract never depends on them.
6. No warranty
oak is provided as is. The contract is unaudited as of the date above. Software has bugs. We make no promise about availability, correctness or fitness for any purpose, and to the fullest extent the law allows we are not liable for any loss arising from your use of oak, including loss of tokens, loss of collateral, or loss caused by the chain, the tokens or your wallet.
7. Fees
The contract sends 10% of the interest on each repaid loan to the oak treasury. There are no other fees from oak. You pay network gas to Robinhood Chain.
8. Changes
We may change these terms and the website at any time. Deployed contract code does not change; a new version would be a new address, announced on the docs page.
9. Contact
X: @oakcredit · Telegram: oak_credit