Swap Terms of Service
Swap Terms Of Service
Table of Contents
Liminal Swap – Terms of Service
Last updated: February 2026
These Terms & Conditions (“Terms”) govern your use of the Liminal Swap functionality (“Liminal Swap” or “Swap Service”), which enables customer configured, policy-controlled digital asset swaps within eligible Liminal wallets. By accessing or using Liminal Swap, you acknowledge and accept these Terms together with the Liminal website Terms & Conditions and Privacy Policy.
If you do not agree with these Terms, do not use Liminal Swap.
Description of Service
- Liminal Swap enables users to initiate token swaps across supported blockchain networks through their Liminal wallet environment. Swap requests follow the same approval workflow, governance rules, and policy controls applicable to standard send transactions on the Liminal platform, including quorum approvals and MPC-based signing workflows.
- Certain swaps require prior on-chain authorization permitting a designated smart contract to spend a specified amount of digital assets from the selected source wallet (“Allowance Approval”). An Allowance Approval is a blockchain-level token spending authorization that may be limited to a specific token and maximum approved amount and may require one or more separate on-chain transactions subject to the customer’s configured approval workflows, quorum thresholds, and MPC signing requirements. Gas fees may be incurred for Allowance Approval transactions regardless of whether a swap is subsequently executed.
- An Allowance Approval does not itself execute a swap transaction and does not guarantee that a swap will be successfully completed. Allowance Approvals may be partially consumed, exhausted, rendered insufficient due to price movement, gas fluctuations, or routing changes, or revoked on-chain, and additional authorization may be required before a swap can proceed.
- Liminal Swap incorporates additional technical and security controls, including allowance approvals, contract whitelisting, restrictions on the internal wallets eligible to receive swapped assets, and route security screening, as part of the swap lifecycle.
- Liminal integrates with third-party service providers and blockchain networks (“Third-Party Service Providers”), to facilitate routing, price quoting, smart-contract screening, and transaction execution.
- Liminal does NOT custody, control, create, initiate, recommend or execute any trades on your behalf. All swaps and any required on-chain token spending authorisations are executed by smart contracts and infrastructure provided by Third-Party Service Providers.
- Liminal does not provide brokerage, execution, liquidity, or market-making services.
- Liminal Swap is available only for supported internal Liminal wallets and does not support swaps from externally connected wallets unless explicitly stated.
User Responsibilities
By using Liminal Swap, you acknowledge and agree that:
- You are solely responsible for selecting the source wallet, the internal wallet designated to receive the swapped assets, the asset type, the amount, any token allowance amount (where applicable) and any other transaction parameters.
- You acknowledge that certain swaps require prior on-chain token spending authorization (“Allowance Approval”), which permits designated smart contracts to spend digital assets from the selected source wallet up to an approved amount. Such Allowance Approvals may require one or more separate on-chain transactions, may incur gas fees regardless of whether a swap is successfully executed, and may need to be re-approved if exhausted, revoked, or rendered insufficient.
- You understand and accept all risks associated with blockchain transactions, including price volatility, network congestion, gas fees, the approval and use of token allowances by smart contracts, and smart-contract execution risks.
- You must maintain all security controls, required approvals, 2FA, MPC signing processes, and organizational policies as configured within your Liminal account.
- You are solely responsible for complying with applicable laws, tax obligations, sanctions restrictions, and regulatory requirements related to your swap activity.
Third-Party Service Providers and External Dependencies
Liminal Swap relies on integrations with Third-Party Service Providers for routing, price quoting, token allowance processing, smart-contract screening, liquidity sourcing and on-chain execution.
Liminal does NOT:
- control or operate blockchain networks
- provide liquidity, brokerage, exchange or market-making services
- control or guarantee the accuracy, availability, timeliness, pricing, routing logic or performance of any Third-Party Service Provider
- assume responsibility for security, uptime, pricing, routing, execution, failure, delay , errors or other actions of any Third-Party Service Provider;
- control or guarantee the approval, sufficiency, persistence, revocation, or consumption of any token allowance.
All swaps, allowance authorizations, and related transactions are executed on decentralized blockchain networks and through smart contracts that are not owned, operated, or controlled by Liminal.
Your use of Liminal Swap constitutes acknowledgment and acceptance of all risks arising from reliance on Third-Party Service Providers, blockchain infrastructure, and smart-contract execution.
No Guarantee of Quotes, Pricing, or Execution
All swap quotes:
- are provided by Third-Party Service Providers,
- are indicative, informational, non-binding in nature and subject to change,
- Quotes are dynamic and may refresh based on market conditions, liquidity availability, or network state. Execution may fail if material price movement occurs between quote retrieval and transaction confirmation.
- do not constitute a fixed price commitment or guaranteed execution rate;
- may remain visible or selectable within the interface without guaranteeing availability;
- may be refreshed, re-calculated or re-validated automatically at multiple stages of the swap lifecycle including prior to approval, signing, or on-chain broadcast;
- may differ from the actual execution price,
- may be affected by market conditions, liquidity constraints, gas fees, routing changes, smart contract conditions and blockchain network state.
Quotes do not have a guaranteed expiry and may become invalid, unexecutable, or materially different at the time of signing or broadcast due to market movement, liquidity changes, routing updates, gas fluctuations, or other external conditions.
Liminal does NOT guarantee:
- the availability or suitability or risk profile of any route,
- that a quoted amount, rate or output will be realized,
- that a transaction will execute successfully, or
- that a transaction will execute within a specific timeframe.
You acknowledge that execution may fail, be delayed, revert, or execute at a different rate than previously displayed, and that the system may block execution or require re-initiation of the swap.
You further acknowledge that failed, delayed, reverted or partially executed or re-validated transactions may still incur gas fees or other blockchain costs, which are irreversible and non-refundable.
Policy Controls and Approvals
- Liminal Swap operates in accordance with the organizational policies and approval workflows configured by the customer, including but not limited to quorum requirements and any policy management settings such as transaction limits or spending limits, wallet restrictions, and contracts whitelisting at the organisation level. Swap requests cannot proceed unless they satisfy the customer’s configured governance framework.
- Only internal wallets whitelisted under the customer’s wallet policies may be designated to receive swapped assets. External wallet addresses are not permitted as swap destinations.
- Swap routes are limited to smart contracts that are whitelisted at the organization level and screened by integrated security providers.
- Smart-contract and route screening may be performed at multiple stages of the swap lifecycle, including during quote retrieval and prior to transaction execution. Any screening result represents a point-in-time assessment based on available risk intelligence and does not constitute a guarantee of security, risk-free status, or continued validity. Risk assessments may change without notice due to newly identified vulnerabilities, exploits, sanctions updates, or other external factors.
- Liminal does not warrant that any screened or whitelisted smart contract, route, or transaction is free from risk, vulnerability, or future compromise.
- Certain swap transactions may require prior token allowance authorization on the relevant blockchain network. Such allowance approval:
- is an on-chain transaction
- may be subject to network fees
- may have a defined expiry period
- remains effective until modified, revoked, or exhausted by the user.
You acknowledge that you are solely responsible for managing, monitoring, modifying, or revoking any token allowance approvals associated with your wallets. Liminal does not monitor or automatically revoke allowances.
- Swap execution may be subject to organizational-level contract configuration settings, including approved smart contract lists. Modifying such configurations may affect available routes, pricing, or execution outcomes.
- Swap execution may require multiple blockchain transactions, including token allowance authorization and the swap transaction itself. Each transaction may incur separate network fees. Failure of a swap transaction does not automatically revoke or reverse any prior allowance authorization.
You acknowledge that:
- Liminal does not override, modify, or bypass your organizational policies.
- All approvals are performed by your authorized users.
- You are fully responsible for actions taken by your team, including initiators, approvers, and signers.
Liminal is not liable for unauthorized or unintended actions executed through valid credentials or approved workflows.
Exclusion of any Liability
- To the fullest extent permitted by applicable law, Liminal shall not liable for any direct, indirect, incidental, consequential, exemplary, punitive, or special damages, including but not limited to loss of digital assets, funds, profits, revenue, data, business opportunity, reputational harm, or goodwill, arising from or related to your use (or inability to use) Liminal Swap.
- Without limiting the foregoing, Liminal is not liable for any loss, damages, cost or expense arising or resulting from:
- blockchain network failures or congestion, forks or network-level disruptions,
- gas-fee fluctuations or failed transactions resulting in gas consumption
- allowance approval, allowance exhaustion, revocation, insufficiency or misconfiguration
- quote changes, pricing differences, slippage, routing updates, or execution at a different rate than displayed
- incorrect wallet details entered by the user, transaction parameters, or configuration errors made by the user;
- Third-Party Service Provider errors, outages, hacks, or failures, insolvency.
- smart-contract vulnerabilities, exploits, or unintended behavior
- changes in token prices, liquidity or market conditions,
- misconfiguration of approval workflows, quorum requirements, policy controls, or organizational governance settings;
- unauthorized access or activity conducted using valid credentials, approved workflows, or authorized devices; or
- user negligence, misuse, or failure to maintain adequate security controls.
- All swaps, allowance authorizations, and related blockchain transactions are executed on decentralized networks and through third-party smart contracts that are not owned, operated, or controlled by Liminal. You assume all risks associated with such decentralized execution.
- Liminal provides access to Liminal Swap functionality on an “as-is” and “as available” and “best-effort” basis without warranties, representations or guarantees of any kind, whether express, implied, statutory, or otherwise.
- Nothing in these Terms excludes or limits liability to the extent such exclusion or limitation is prohibited under applicable law.
- To the maximum extent permitted by applicable law, Liminal’s aggregate liability arising out of or in connection with Liminal Swap shall not exceed the total amount of fees, if any, actually paid by the customer to Liminal for the specific swap transaction giving rise to the claim during the twelve (12) months preceding the event giving rise to liability.
No Financial, Investment, or Tax Advice
Liminal does not provide:
- investment advice,
- financial or trading guidance,
- Tax, regulatory or legal advice, or
- recommendations regarding any digital asset, protocol or route.
You acknowledge that all decisions are self-directed and taken at your sole discretion.
Compliance and Legal Use
You agree to use Liminal Swap only in compliance with all applicable:
- anti-money-laundering (AML) regulations,
- counter-terrorism financing (CTF) laws,
- sanctions and restricted – party requirement,
- tax obligations, and
- Industry rules, and
- any jurisdictional requirements applicable to your entity.
Liminal may suspend, restrict or terminate Swap access at its discretion for compliance, legal or security, reasons with or without notice.
Service Modification or Suspension
Liminal may, at any time and without liability, modify, update, limit, suspend, or discontinue Liminal Swap, including by:
- changing supported assets, networks, or features
- replacing or removing Third-Party Service Providers;
- imposing or modifying usage limits; or
- restricting access for maintenance, security, or operational reasons.
Indemnification
You agree to indemnify, defend, and hold harmless Liminal, its affiliates, directors, employees, and partners from all claims, liabilities, losses, damages, costs, and expenses arising out of or related to:
- your use of the Swap Service;
- your breach of these Terms or any Liminal Agreement;
- actions or omissions of your authorized users; or
- third-party claims related to your blockchain transactions.
Governing Law and Dispute Resolution
Any dispute arising from or relating to these Terms or the Service shall be finally settled by binding institutional arbitration in Singapore under the SIAC Rules, conducted in English. You and Liminal agree that arbitration shall proceed only on an individual basis and not as a class, consolidated, or representative action.
Changes to Terms
Liminal may update or revise these Terms at any time. Continued use of Liminal Swap following the effective date of updated Terms constitutes your acceptance of the revised version.
Contact
For questions regarding these Terms, contact: [email protected]
Disclaimer
Liminal Swap is provided on an “as-is”, “as-available”, and “best-effort” basis.
To the fullest extent permitted by law, Liminal expressly disclaims all warranties, representations, or guarantees of any kind, whether express, implied, statutory, or otherwise, including but not limited to:
- warranties of merchantability,
- fitness for a particular purpose,
- non-infringement,
- uninterrupted or error-free operation,
- accuracy, reliability, or completeness of any price quote, swap route, or smart contract screening result, and
- immunity from vulnerabilities, hacks,exploits, or security breaches on the blockchain or any integrated third party system.
Digital asset swaps involve inherent and significant risks, including but not limited to:
- market volatility, price fluctuations, and liquidity constraints,
- smart-contract execution risks and potential vulnerabilities,
- network congestion, transaction delays or failures,
- slippage, or partial execution of transactions, and
- irreversible on-chain transactions
You acknowledge these risks and agree that Liminal has no responsibility or liability for any losses, costs or damages resulting from your use of Liminal Swap, including losses incurred from:
- failed, delayed, reverted, or partially executed transactions,
- changes in token prices or market conditions,
- reliance on quotes, routes, or screening results, or
- actions of third-party service providers, smart contracts, or blockchain networks.
Nothing contained in this Liminal Swap Service or related documentation shall be construed as:
- investment advice,
- financial advice,
- trading recommendations,
- Tax, regulatory or legal advice, or
- an endorsement of any digital asset, protocol, route, or transaction.
You are solely responsible for verifying all information, assessing all risks, and making independent decisions. Use of Liminal Swap is entirely at your own risk.
Acceptance
Your use of Liminal Swap Services constitutes your acknowledgment and acceptance of these Liminal Swap Terms.