Terms of Use

Espalier is a demo preview. It shows how Cordons, Spurs, and Grafts are designed to work. It holds no real assets and sends no transactions.

Every number you see is demo data, and it is labelled as demo. None of it is a live price.

Nothing on Espalier is an offer, a solicitation, or investment, legal, or tax advice.

Read Docs & Risk to see how the products are designed and what can go wrong. Decide for yourself, and ask a professional if you need one.

Stock Tokens are not offered to US persons. Other places are restricted too. Where Espalier is restricted lists what we know today.

If you are in a restricted place, or you are not allowed to use Espalier where you live, do not use it. Checking this is your job, not ours.

You must be old enough to make a binding agreement where you live.

Stock Tokens are tokenised debt securities. They give economic exposure to a stock, not legal rights to the shares.

A Spur gives up upside above its strike. A Graft pays out when the price falls below its strike. You can lose some or all of what you put in. Premium is not a rate and it is not promised.

These risks apply to any live version, once there is one.

The preview does not connect to your wallet. When it does, Espalier will only ask you to sign what it shows you.

Espalier will never ask for your seed phrase or private key. If anyone does, it is not us.

Do not attack the site or its services. Do not try to get around a restriction or a rate limit.

Do not present demo numbers as real results. A share card made from demo data is still demo.

Espalier is independent. It is not affiliated with, and not endorsed by, the issuer of Stock Tokens, the issuer of USDG, or any company whose stock a token follows. Tickers are shown as data. Other names belong to their owners.

The preview is provided as it is. It can be wrong, it can change, and it can go offline at any time.

To the extent the law allows, Espalier is not responsible for loss that comes from using the preview or relying on what it shows. Nothing here limits rights you cannot give up by law.

We may change these terms. The date at the top shows the latest version. If you keep using Espalier after a change, you accept the new version.