Phygitals Pawn Shop Terms Of Service
Phygitals Pawn Shop Terms of Service
Last Updated: October 25, 2025
Entity: Phygitals Inc Registered Office (Agent): 131 Continental Dr, Suite 305, Newark, DE 19713, USA Principal Address: 1111B S Governors Ave, Suite 34931, Dover, DE 19904, USA Website: www.phygitals.com Email: [email protected]
This document governs pawn (secured loan) transactions on Phygitals. It incorporates by reference the State Availability & Licensing page. Pawn services are available only where authorized and compliant. Counsel must finalize all state-specific ticketing/disclosures before launch.
Key Sections (Summary)
See the full version for detailed provisions.
Eligibility, KYC/AML, and sanctions screening
Nature of Service: non-bank, non-recourse pawn loans via smart contract escrow
Loan Terms: interest caps (apply lower of posted or statutory), fees (none unless permitted and disclosed)
Loan Period, Maturity, Redemption, Default, and Disposition
State-Specific Rules: surplus/deficiency, notices, waiting periods
Disclaimers, Liability Limits, and Arbitration (AAA, Wilmington, DE)
Required Point-of-Sale Disclosures: loan amount, rate/APR, term, total due, item, and consequences Contact: [email protected]
Checkout Disclosures (Summary)
The following disclosures are displayed at checkout and on your pawn ticket or receipt, formatted to comply with state laws.
Escrow Period
Your digital collectible will be securely held in escrow (smart contract control) during the loan period.
You will not be able to trade, sell, or redeem the asset until the loan is fully repaid and confirmed on-chain.
Loan Terms (Illustrative; subject to state caps and your checkout screen)
Weekly: Borrow up to 50% of FMV with 5% interest.
Monthly: Borrow up to 35% of FMV with 12% interest.
Interest is calculated on the loan principal, not the collateral value.
Where state law imposes lower caps or different disclosures, those will control and be shown at checkout.
Loan Expiration & Claiming
Your pawn expires after the selected period (7 days for Weekly, 30 days for Monthly), as shown at checkout.
Failure to repay the Total Amount Due by the due date/time results in automatic claim of the collateral by Phygitals’ smart contract, consistent with applicable law.
Once claimed, ownership is transferred and cannot be reversed.
No refund or compensation is provided for defaulted loans, except as required by state law (e.g., surplus accounting where applicable).
Smart Contract & Blockchain Risks
All transactions execute on-chain and are irreversible once confirmed.
Smart contracts, while audited, may contain bugs or vulnerabilities.
Network congestion or failures may delay or prevent transactions; you are responsible for gas/transaction fees and ensuring timely submission.
Asset valuations (FMV) are estimates and not guarantees of market value.
Phygitals may pause or modify functionality for security or compliance reasons.
By confirming a pawn, you acknowledge that you have read and understood these disclosures and the full Pawn Terms, and consent to electronic delivery of records.
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