Pearl Terms
1. Introduction and Scope
Valory AG (“Valory” as defined at https://valory.xyz/terms, herein: the “Valory Terms”) develops and provides tools built on emerging technologies, including the open-source Pearl Application (the “Pearl Application”, as defined below).
The Pearl Application is an open-source desktop application available for download at https://www.pearl.you/ (the “Pearl Site”). By downloading, installing, or using the Pearl Application, you acknowledge and agree to be bound by these Pearl Terms, the Valory Terms, the Pearl Site's policies (available at https://www.pearl.you/disclaimer, herein: “Pearl Site Disclaimer & Privacy Policy”), and any applicable Olas Site policies (available at https://olas.network/, herein: “Olas Site”) all collectively the “Conditions”. If you do not agree to these Conditions, you must not download or use the Pearl Application. You also acknowledge the terms and privacy policies of “Third-Party Integrations” (external protocols, platforms, or services provided by entities other than Valory, including but not limited to those named in Section 7).
For the avoidance of doubt, the Pearl Site Disclaimer & Privacy Policy governs the use of the Pearl Site, while these Pearl Terms govern the use of the Pearl Application. In the event of any conflict, inconsistency, or ambiguity between the various components of the Conditions or terms and privacy policies of Third-Party Integrations, the following order of precedence shall apply: 1) Valory Terms (which shall govern and prevail in all matters, especially regarding Valory's liability, rights, and obligations); 2) these Pearl Terms; 3) the Pearl Site Disclaimer & Privacy Policy, and 4) any terms and privacy policies of Third-Party Integrations.
Nothing in these Pearl Terms shall be construed to waive, limit, or supersede any rights, remedies, or limitations of liability that Valory (or any legal entities that control, are controlled by, or are under control with Valory, herein: “Affiliates”) retain under the Valory Terms. Valory's inclusion of or integration with any Third-Party Integrations does not imply any assumption of liability for such third-party services.
2. What is the Pearl Application
Pearl Application enables users to run “Agents” or “AI Agents” (software that can perceive its environment, make decisions, and take actions without constant human input to achieve specific goals) locally, on their own devices. These Agents interact with the “Olas Protocol” (a decentralized platform for owning Agents and other protocols, described at https://olas.network/protocol). The Pearl Application, Pearl Site, the brands “Pearl” or “Olas Pearl” and associated “Marks” (trademarks, service marks, logos, and brand identifiers) are part of Valory's “Offerings” (as defined in Sections 1.3 and 2 of the Valory Terms) and are governed by the Valory Terms. All trademarks, logos, and branding associated with Pearl Application are owned or licensed by Valory.
Functionality in Pearl Application may interact with Third-Party Integrations - any such interactions occur under their respective terms and conditions and are initiated, configured, and controlled by the user and at the user's sole direction and risk. Certain Agents or functionalities may depend on external infrastructure, including third-party APIs, developer accounts, or credit-based services. Users are solely responsible for independently registering for, maintaining, funding, and complying with the terms of such Third-Party Integrations. Valory does not provide, resell, bundle, monitor, or guarantee access to any such APIs or credit-based services.
3. Acceptance of the risks
The Conditions explain the risks involved in using Offerings like Pearl Application, which are based on emerging technologies (such as blockchain). Nothing in Pearl Application or related materials constitutes investment advice, a financial promotion, or an offer to manage assets. Pearl Application and any functionality within Pearl Application may not behave as expected, may fail, or may underperform. Any assets used with Pearl Application are at risk and you may lose some or all of your assets. You remain solely responsible for your financial decisions and blockchain transactions, and for understanding any legal, tax, or regulatory obligations that may apply. Valory does not provide legal, tax, financial, or trading advice nor does it assess user suitability, appropriateness, or risk tolerance.
By using Pearl Application, you acknowledge that access to any and all functionality may be restricted based on jurisdiction, residency, sanctions, or eligibility requirements imposed by Valory and/or third-parties. In particular, Valory may restrict your use of Pearl Application based on IP-address checks.
While using Pearl Application, users may interact with or receive Olas tokens (hereafter “Olas Token(s)”, a digital asset associated with the Olas Protocol, specifically its native token: https://olas.network/olas-token, via the Olas Protocol). Any issuance, distribution or receipt of Olas Tokens is not guaranteed and is governed by the Olas Protocol (not Pearl Application, Pearl Site, or Valory), which is in turn governed by the “Olas DAO” (a decentralized autonomous organization where decisions are made by token holders rather than a central authority). Users assume all risks associated with acquiring, holding, or transacting with Olas Tokens, including potential loss of assets or value, irretrievability, or tax or regulatory obligations. Valory is not responsible for any token-related losses, account balances, or third-party token activities.
4. Limitation of liability
Warning: Pearl Application is experimental open-source software that is provided “as is”, without any representation or warranty that it has been fully audited, tested, or secured. If you choose to use Pearl Application, you do so at your own risk. To the maximum extent permitted by law, and except where mandatory consumer protections apply, Valory is not liable and responsible for any delays, losses, damages, or issues resulting from or arising out of the access, use, cessation or interruption of use of Pearl Application, related Agents, Third-Party Integrations, or underlying technologies, nor for paying any costs related to the same.
You agree to hold harmless and indemnify Valory, and its affiliates, from any third-party claim (including legal fees) arising from your use of the Pearl Application or your violation of these Pearl Terms.
5. Non-custodial nature & data handling
Pearl Application is non-custodial software developed by Valory. Valory does not ever take custody of user funds, access wallets, or act as a financial intermediary or data processor on behalf of users. Valory does not sell, nor rent, nor share personal data, nor store personal data via Pearl Application. Any technical data generated by Pearl Application is processed locally on your device solely to enable the software's functionality and is never shared with Valory. All wallet keys, configurations, and operational data remain local to your device. Valory does not approve, reject, modify, or reverse any transaction initiated through/by Pearl Application or any functionality therein, nor does it access or control funds held in user wallets or smart-contract wallets used by Agents or users.
Where Pearl Application displays on-chain information such as balances, positions, or transaction history, that information is commonly retrieved via subgraphs hosted on The Graph's decentralized network, not solely by Valory, and Valory does not guarantee the availability, accuracy, or timeliness of such third-party indexing infrastructure.
6. Pearl Agents
As above, Pearl enables users to use various Agents where the open-source code was provided by Valory or another Third-Party and the Agents run locally on users' own devices. Agents in Pearl currently available to create and maintain (“Available Agents”) include: Basius, Connect, Omenstrat and Polystrat. Agents that can only be maintained and not created (“Agents Under Development”) include Optimus, Agents.fun, Modius and Pettbro. Find more information about some of the Available Agents and Agents Under Development below:
6.1 Available Agents
6.1.1 Basius (DeFAI Agents)
Pearl Application allows users to run Optimus and Basius, autonomous Agents developed by Valory (together, the “DeFAI Agent(s)”). “Optimus” is a DeFAI Agent that operates on the Optimism network and “Basius” is the Base network version of Optimus and shares the same agent logic. The DeFAI Agent(s) are operated and executed locally on the user's device and, at the user's sole discretion and risk, interact with third-party decentralized exchanges (the “DEXs”) and other decentralized market protocols like “Velodrome” on Optimism and “Aerodrome” on Base, together with third-party routing, bridging, and pricing services used to execute swaps and transactions, in order to provide or manage liquidity positions. The DEXs and other protocols with which DeFAI Agent(s) interact are Market Protocols within the meaning of Section 7.5, and Section 7.5 applies to them. Valory does not operate, control, or manage these DEXs or protocols, does not execute, clear, or settle any transaction on them, and does not determine pricing, slippage, eligibility, or outcomes. Consistent with Section 5, Valory does not take custody of, access, or control any assets used by the DeFAI Agent(s), which at all times remain in user-controlled wallets or smart-contract wallets. The DeFAI Agent(s) may hold or route between digital assets, and tokens not supported by a DeFAI Agent(s) may be swapped into a supported asset when a position is entered. Providing liquidity and transacting on DEXs involves significant risk, including price volatility, slippage, impermanent loss, smart-contract failure, failed or delayed transactions, and partial or total loss of assets. Any reference to returns, yield, return of investment, or portfolio performance is indicative only, is not guaranteed, and does not constitute investment, financial, or trading advice. Nothing in the DeFAI Agent(s) constitutes a managed account, pooled investment, or any offer to manage assets and Section 3 applies in full. Valory is not liable for any losses, damages, delays, failed actions, or other issues arising from or related to the DeFAI Agent(s), the DEXs, or any third-party routing, bridging, or pricing services they rely on, including outages, mispricing, or changes to such services or their rules. Use of the DeFAI Agent(s) may be subject to geographic, legal, or regulatory restrictions, and may be limited or disabled at the Pearl Application level in accordance with Section 3, 7.5 and 8 herein.
6.1.2 Connect
Pearl Connect (“Connect”) is a Pearl Agent; each instance you create is a “Connect Agent”. Connect Agents are Pearl Agents that can connect to any agent harness (e.g. Claude Code (see Section 7.6), hereafter “Agent Harness”), and optionally any Independent Agent you create independently via the Agent Harness (hereafter “Independent Agent”, totally distinct from Pearl's Agents). Together the Agent Harness and any Independent Agent are each termed a “Connected Agent”, collectively “Connected Agents”. Unlike other Pearl Agents, Connect is not autonomous: it is designed as a co-pilot for the Connected Agents, giving them the ability to act on-chain — including transferring funds, paying for Agent services via the Olas Protocol, or trading on Market Protocols, such as Polymarket or Omen (see Section 7.5) — only when you direct them to, live.
Connect is non-custodial in the manner described in Section 5: the Connected Agent prepares the action you asked for, but neither it nor its provider holds your private key or signs anything, only your Connect Agent can sign and thereby approve the action and resulting actions, e.g. sending funds from your Connect Agent's wallet (the “Agent Wallet”). Your Connected Agent can prepare a trade on a Market Protocol, your Connect Agent can sign the trade to approve the necessary actions (including transfers of funds from your Agent Wallet), and your Connect Agent or Connected Agent can send the signed trade to the Market Protocol, depending on the Market Protocol. Trades are initiated by you or Connected Agents and are your own responsibility, regardless of whether they are executed by the Connect Agent and whether they are informed by predictions requested by the Connect Agent. Any prediction, forecast, or other output returned by the Connect Agent is generated by processes involving independent Third-Parties, is not reviewed or verified by Valory, and does not constitute financial, investment, or trading advice (Section 3).
Connect Agents carry risks in addition to those described in Sections 3, 4, and 7. By creating and using your Connect Agent you are agreeing that any funds in your Agent Wallet can be used by your Connect and Connected Agent. You understand that these technologies are AI-mediated and may result in the loss of any and all funds associated. Only fund your Agent Wallet with funds you agree to spend. As with any AI Agent that acts on content it processes, your Connected Agent could be manipulated by content it encounters into requesting a transaction you did not intend (“prompt injection”). The Connect Agents' design can mitigate some risks but cannot fully eliminate risks and your Agent's risk profile is affected by how you configure it. Connect Agents' protections also depend on the ordinary security of your own device and Connected Agent installations, and on the independent conduct of the Connected Agent provider and any Third-Party Integrations you choose to interact with through it. You acknowledge that using Connect Agents carry a non-zero risk of loss of some or all funds held in the Agent Wallet, and that you are solely responsible for the Connected Agent you use, the content it is exposed to, and how you configure your Connect Agent.
Anything beyond what Connect Agents themselves provide — any MCP server, skill, extension, workspace file, or other code you install or enable in your Connected Agent — is added at your own discretion. Valory does not audit, review, or endorse any such addition, and any loss of funds resulting from its use is your sole responsibility. This is true even for additions that never touch signing: reading wallet, balance, or position data does not require a signature, so such additions can access and transmit that data to third-parties regardless of any restrictions you apply to the Connect Agent, which govern what can be signed, not what can be read.
6.2 Agents Under Development
6.2.2 Pettbro
“PettBro” is an autonomous Agent provided and built by Pett.ai (an independent third-party that is not owned, operated, or controlled by Valory, hereafter: “Pett.ai”) that performs actions on Pett.ai's game (hereafter “the Pett.ai Game”), for the purpose of taking care of a user's digital “pet” on the Pett.ai Game. PettBro is accessed via Pearl Application and operated and executed locally on the user's device. Pearl Application provides the infrastructure for accessing the Agent, while Pett.ai provides the Pett.ai Game, including its logic, game environment, and backend services with which PettBro Agents interact. The Pett.ai Game is powered by third-party services, “Pett.ai Third-Party Services”, which are also independent from Valory. Pearl Application does not design, modify, or control the internal decision-making logic of the PettBro Agent nor the Pett.ai Game and does not act as a game operator, decision-maker, or financial intermediary in relation to Pett.ai and the Pett.ai Third-Party Services. When a user chooses to use a PettBro Agent in Pearl Application they enable functionality that interacts with the Pett.ai Game and Pett.ai Third-Party Services, which may change at any time. Pearl Application may then establish (directly from the user's device) ongoing and continuous communication with the Pett.ai Game and Pett.ai Third-Party Services, including by means of a secure socket layer (SSL)-based persistent connection, in order to receive pet state updates and submit pet-related actions. PettBro involves continuous bidirectional data exchange and ongoing execution rather than a one-time or incidental connection. Pett.ai Third-Party Services may include third-party authentication, identity, or verification services (including passwordless authentication mechanism using one-time passcodes (OTPs)) to facilitate user authentication and authorization. In connection with such interactions, data exchanged may include identifiers and metadata necessary to operate the functionality (such as the user's email address used to access the Pett.ai Game, pet-care action commands submitted by the PettBro Agent, and pet state and performance information returned by the Pett.ai backend). Users acknowledge that Pett.ai collects and processes personal data as an independent data controllers in connection with the Pett.ai Game, including account identifiers, usage data, device and network information, and analytics data, as defined in Pett.ai's terms and privacy policy, and Pett.ai Third-Party Services may also do so as independent data controllers in line with their policies, which are incorporated by reference and apply in addition to these Pearl Terms. Pett.ai does not store or persist data originating from the Pearl Application itself, however, Pett.ai processes and stores user data and game state data required to operate the Pett.ai Game. Valory does not control, determine, or influence how Pett.ai or Pett.ai Third-Party Services process such data. Availability, performance, and response times of the Pett.ai, the Pett.ai Game and PettBro depend on Pett.ai and Pett.ai Third-Party Services and are not guaranteed by Valory. You contract directly with Pett.ai and Pett.ai Third-Party Services in relation to the Pett.ai Game. Valory does not operate, control, audit, or guarantee the Pett.ai Game, PettBro, or any other Pett.ai services, nor Pett.ai Third-Party Services nor their services, and Valory makes no warranties regarding their availability, security, correctness, or performance. To the maximum extent permitted by law, Valory is not liable for any losses, damages, delays, failed actions, or other issues arising from or related to the services offered by Pett.ai and the Third-Party Services nor their dependencies, including outages, authentication failures, or changes to services, rules or requirements). Virtual items, in-game currencies, and rewards have no guaranteed financial value and are not offered as investments, financial products, or profit-generating opportunities.
7. Third-Party Integrations
Valory is not liable for any Third-Party Integrations; you use them at your own sole risk and must comply with their respective terms. To the fullest extent permitted by law, Valory shall not be liable for any indirect, incidental, special, punitive, or consequential damages arising from the use of Pearl Application or any Third-Party Integrations. For more information see:
7.1 Transak
Transak is a regulated Virtual Asset Service Provider (VASP) that enables fiat-to-crypto purchases (available at https://transak.com/, hereafter: “the Transak Service”). Although the Transak Service is technically accessed via a non-transactional proxy (for software compatibility only) operated by Valory, your transaction remains exclusively with the Transak Service Provider. This integration is offered for your convenience, and all onramp services are clearly branded and operated by the Transak Service provider. When accessing the Transak Service through Pearl Application, users are redirected to the Transak Service's interface and contract directly with the Transak Service provider under its own Terms of Service and Privacy Policy.
For the avoidance of doubt, Valory does not process or store user payment or any data, perform KYC/AML checks, or hold, custody or transfer of fiat or crypto funds: any processing or storage of user payments or user data, KYC/AML checks, or holding, custody or transfer of funds taking place in the process of fiat-to-crypto onboarding within Pearl Application is performed solely by the Transak Service provider. Valory is not an intermediary, counterparty, or payment processor in any onramp transaction. Valory assumes no responsibility or liability for the performance, security, or data handling of the Transak Service provider nor its integration, except to the extent such liability cannot lawfully be excluded.
7.2 Web3Auth
Web3Auth is a third-party authentication and wallet backup service that uses multi-party computation (MPC) technology (available at https://web3auth.io/, hereafter: “the Web3Auth Service”). The Web3Auth Service enables users to create a backup wallet to aid recovery of your main wallet used in Pearl Application using a social login, e.g. an email account. Part of the private key of said backup wallet is securely backed up via their chosen login method, and the other part is held by Web3Auth's Service's infrastructure. The Web3Auth Service provider acts as an independent service provider and may process limited personal data (e.g., identifiers tied to your Authentication Provider) in accordance with its own privacy policies. Neither Valory nor the Web3Auth Service provider ever hold your full private key. Valory never accesses or stores keys or parts of keys or login credentials. You contract directly with the Web3Auth Service provider under its own Terms of Use and Privacy Policy. Users are solely responsible for maintaining access to their authentication accounts via the Web3Auth Service. Valory assumes no responsibility or liability for the performance, security, or data handling of the Web3Auth Service nor its integration, except to the extent such liability cannot lawfully be excluded.
7.3 Zendesk
Pearl Application allows users to contact the Valory support team through Zendesk (available at https://www.zendesk.com/, hereafter: “the Zendesk Platform”), a third-party support platform integrated into Pearl Application by Valory for handling support requests submitted by users using the “Contact Support” form in Pearl Application. When submitting the form, users are required to provide their email address, a description of the issue, and may optionally attach files, including app logs. This data is stored by the Zendesk Platform and is collected by Valory. The Valory support team may access, use, export, or analyze the data for support purposes. While any data use or support provision is handled by the Valory team, the full operation, processing, and management of the Zendesk Platform and its integration is performed by Zendesk and subject to the Zendesk Platform provider's Terms of Use and Privacy Policy. Valory does not make any guarantees, warranties or representations regarding the timeliness, completeness, accuracy, or adequacy of any responses. Users acknowledge that the “Contact Support” form in Pearl Application is provided for convenience and clarity, and does not create any contractual obligations with Valory. Valory is not responsible for any errors, miscommunications, or actions resulting from the use of the Zendesk Platform, or for the content of messages submitted by users. Users remain solely responsible for their own decisions, actions, and precautions while using Pearl Application, including any reliance on support or feedback received from Valory and/or through the Zendesk Platform. Valory assumes no responsibility or liability for the performance, security, or data handling of the Zendesk Platform provider nor its integration, except to the extent such liability cannot lawfully be excluded.
7.5 Interaction with Market Protocols
Some functionality in Pearl Application may interact with decentralized or centralized market protocols operated by third-parties (“Market Protocols”). Valory does not operate, control, or manage any Market Protocols, does not execute, or clear trades on Market Protocols, and does not determine eligibility, pricing, outcomes, settlement nor has custody or control of your transactions on any Market Protocols. Market Protocols, and other decentralized services referenced in these Pearl Terms, are frequently run by multiple independent, and in some cases pseudonymous, operators rather than a single identifiable entity; Valory is not liable for the acts, omissions, or reliability of any such operator.
Valory relies on Market Protocols' eligibility checks, KYC/AML compliance and obligations, market operation, and outcome determination, and makes no representation regarding their correctness, availability, or performance.
Use of functionality related to Market Protocols may be subject to geographic, legal, or regulatory restrictions imposed by the Market Protocols' provider(s).
Where required to comply with applicable laws or third-party restrictions, access to specific functionality (for example, Agents that trade on a particular Market Protocol - like the Polystrat Agent that trades on the Polymarket Platform (available at https://polymarket.com/, herein: “Polymarket”) or Omenstrat Agent that trades via the decentralized Omen Platform (available at https://dxdocs.eth.limo/docs/Products/omen/, herein: “Omen”)) may be limited or disabled at the Pearl Application-level (including preventing activation or execution of an Agent from certain locations). Such limitations are not designed to affect user custody of funds or the ability to withdraw assets (for example, assets held in user-controlled wallets), however, Valory has no control over the Market Protocols and their geographic limitations, for example, withdrawal of assets held in Market Protocols in unresolved positions may be limited outside of approved jurisdictions.
7.6 Anthropic (Claude Code)
Claude Code, including its Desktop and CLI forms, is software independently developed, owned, and operated by Anthropic (available at anthropic.com, hereafter: “the Anthropic Software”) and is not owned, controlled, or operated by Valory. Pearl Application may launch or link to the Anthropic Software, including as a means of accessing Pearl Connect (Section 6.1.2), but does not modify it and has no visibility into or control over your Anthropic account, session content, or any data you provide to or receive from it. Any mention and interaction with Pearl or related software or communications from Valory does not constitute nor imply a partnership or any other kind of relationship with Anthropic nor an endorsement from the same. You contract directly with Anthropic under its own applicable terms of service and privacy policy. Valory makes no warranties regarding the Anthropic Software's availability, security, correctness, or performance, and, to the maximum extent permitted by law, is not liable for any losses, damages, or issues arising from or related to your use of the Anthropic Software, including any output it generates or action it takes.
8. User responsibilities and prohibited uses
You represent and warrant that your access to and use of the Pearl Application, any Agent or Third-Party Integrations accessed through Pearl Application complies with all applicable laws, regulations, and third-party terms (including restrictions based on jurisdiction, sanctions, or residency) and that you are solely responsible for such compliance. Without limitation, you represent and warrant that: (i) you access and use Pearl Application only from jurisdictions where such use is lawful; (ii) you access or use third-party functionality through Pearl Application only if you are eligible to do so under applicable Third-Party Integrations' terms (e.g. you are not a U.S. person where such status is restricted); (iii) you are not located in, resident in, or acting on behalf of any person or entity subject to sanctions or restricted measures administered or enforced by OFAC, Switzerland, European Union, or the United Nations; and (iv) you do not use VPNs, proxies, or other technical measures to circumvent geographic, sanctions-related, or eligibility restrictions imposed by Valory or Third-Party Integrations.
You may not use Pearl Application to violate laws, infringe IP, introduce malware, reverse-engineer the software, or interfere with any networks. Valory may suspend or terminate access to Pearl Application through which the user interacts with their Agent (or specific functionality of the Pearl Application) at any time for violation of these Pearl Terms, including for breach of eligibility, sanctions, or jurisdictional restrictions, without any obligation to compensate you or any third-party for resulting losses. Pearl Application may include or rely on open-source libraries, which are subject to their respective licenses; you agree to comply with such licenses, and Valory makes no warranties and assumes no liability regarding such third-party open-source components.
9. Updates, governing law and dispute resolution
Valory may update these Pearl Terms from time to time to reflect changes in the product or legal requirements. Updates will be effective when posted on the Pearl Site or within Pearl Application, and continued use after posting constitutes acceptance. Continued use of Pearl Application after such updates constitutes acceptance of the revised terms. If you do not agree to the Conditions your sole remedy is to discontinue your use of Pearl Application.
These Pearl Terms are governed by and constructed in accordance with the laws of Switzerland, and any disputes shall be resolved in accordance with the dispute resolution provisions of the Valory Terms. If any provision of these Terms is found to be invalid or unenforceable, the remaining provisions shall remain in full force and effect.
10. Support
If you encounter a problem/question, please contact here - support@valory.zendesk.com.