Legal
Terms of Service
Short and plain, because this is a testnet prototype.
What Covenant is
Covenant is a collateralized payment commitment. A payer locks a small FXRP bond on Flare behind a promise to send XRP on XRPL by a deadline. Verified payment data decides whether the bond returns to the payer or moves to the recipient. Covenant is not insurance, not a guarantee, and not financial advice.
Testnet prototype
This deployment runs on Flare Coston2 and the XRPL testnet for the Flare Summer Signal hackathon. All assets are test assets with no real value. The software is provided as is, may change at any time, and may contain defects.
No custody
Covenant never holds your XRP and never asks for keys or seed phrases. The bond is held by the escrow contract, not by a person or company. Your wallets sign every action directly.
Bond risk
If a referenced payment does not arrive by its deadline and cure period, the contract can transfer the bond to the recipient once a Flare Data Connector proof confirms the outcome. Only create commitments you understand and intend to honor.
Acceptable use
Do not use the prototype for real value, unlawful activity, or attempts to disrupt the testnets it depends on.