HoloFuel Platform Terms of Service

Entity: Net Zero FZC (Zanzibar Digital Free Zone)
Version: 1.0
Effective: 1 November 2026
Published at: netzero.zone/platform-terms.html
Status: Published

1. Who we are and what these Terms cover

1.1 These Platform Terms (“Terms”) are published by Net Zero FZC, a Zanzibar Digital Free Zone Company, company identifier ZDFZ-QME5S9FR, Zanzibar (“Net Zero”, “we”, “us”).

1.2 Net Zero holds a Mutual Credit System Services Provisional License issued by OurWorld Zanzibar, acting as Regulator of the Zanzibar Digital Free Zone (the “License”). The License is provisional, is valid for ninety days from 1 November 2026 unless renewed, replaced or earlier ended, and authorises the activities described in section 3. It does not mean that the Regulator, the Zanzibar Digital Free Zone or any government authority endorses, guarantees or certifies HoloFuel, its technology, its security or its commercial viability.

1.3 These Terms govern:

  1. the HoloFuel Mutual Credit System operated by Net Zero through the Unyt Accounting software (the “System”);
  2. the Token Swap between HOT Tokens and HoloFuel; and
  3. the Bridge between the Ethereum blockchain and the System.

1.4 By creating a HoloFuel account, using the Bridge or requesting a Token Swap you agree to these Terms. If you don’t agree, don’t use the System.

1.5 Where anything published elsewhere about HoloFuel, the Token Swap or the Bridge (including FAQs, blog posts, community channels or the holo.host website) differs from these Terms, these Terms govern.

2. Definitions

“Bridge” means the cryptographic mechanism, using multi-signature controls, by which HOT Tokens are locked on Ethereum and a corresponding balance of Mirrored HOT is recorded in the System, and the reverse.

“Credit Limit” means the maximum negative HoloFuel balance an account may hold.

“HoloFuel” means the mutual credit accounting unit used within the System.

“HOT Token” means the ERC-20 token at Ethereum contract address 0x6c6EE5e31d828De241282B9606C8e98Ea48526E2, created by Holo Limited in 2018.

“Mirrored HOT” means the System’s record of HOT Tokens locked in the Bridge contract, maintained one to one with the locked HOT Tokens.

“Participant” means any person who holds a HoloFuel account or uses the Bridge.

“Swap Window” has the meaning in section 5.5.

“Token Swap” means the conversion of Mirrored HOT into HoloFuel, and of eligible HoloFuel into Mirrored HOT.

“Unyt Accounting” means the Holochain application that provides the System’s peer-to-peer accounting framework.

3. What Net Zero does and doesn’t do

3.1 Under the License, Net Zero establishes, administers and operates the System, including: mutual credit operations (the creation, allocation, transfer, settlement and extinguishment of HoloFuel units, Credit Limits and balances); the Token Swap; Bridge operations; the use of HoloFuel to account for and pay for hosting services within the System; and ancillary technical and administrative activities.

3.2 Net Zero does not, and under the License may not:

  1. accept deposits of fiat currency or digital assets to fund HoloFuel balances;
  2. redeem or convert HoloFuel into fiat currency or into any digital asset other than HOT Tokens;
  3. facilitate the listing, trading or exchange of HoloFuel on any external venue;
  4. operate an exchange, order book, order matching, market making or discretionary pricing;
  5. take custody or control of your digital assets other than as the Bridge mechanism provides; or
  6. facilitate the conversion, transfer or settlement of any digital asset other than HOT Tokens and HoloFuel.

3.3 Net Zero sells HoloFuel to no one. HoloFuel is acquired only by Token Swap from HOT Tokens you already hold, or by earning it for providing services within the System.

4. Eligibility and identity verification

4.1 You may use the System only if you are at least 18 years old, have legal capacity to enter these Terms, and are not an Excluded Person.

4.2 You are an “Excluded Person” if you are located, resident, incorporated or ordinarily operate in a jurisdiction, or are personally subject to sanctions administered by the United Nations, the European Union, the United Kingdom, the United States or Tanzania, or you are acting for anyone who is.

4.3 Before using the System or making a Token Swap you must complete identity verification through our verification provider. Verification exists to prevent one person operating many accounts, to meet our obligations under the License on customer identification, anti-money laundering, counter-terrorist financing and sanctions, and to protect the System’s integrity. Our Privacy Policy describes what is collected and how it’s handled.

4.4 We may decline, suspend or close an account, or hold a Bridge transaction, where verification fails, where screening of an Ethereum address indicates a sanctions or illicit-finance concern, where we reasonably suspect breach of these Terms, or where the License or applicable law requires. We may be prohibited by law from telling you why.

4.5 You must keep your verification information accurate and tell us if it changes.

5. The Token Swap

5.1 Two steps. Moving from HOT Tokens to HoloFuel involves two distinct operations, which you initiate separately:

  1. Bridging in. You transfer HOT Tokens to the Bridge contract on Ethereum using the Transfer In function in the Unyt Accounting software. The HOT Tokens are locked in that contract. The System records an equal balance of Mirrored HOT in your account. What you hold after this step is still HOT; nothing has been converted.

  2. Swapping. You request a Token Swap of Mirrored HOT for HoloFuel. The System’s automated swap agent executes a swap (during the swap window at a one to one rate), without discretion, on a valid request from an eligible account. This is the step that converts HOT into HoloFuel.

5.2 Lock, not burn. HOT Tokens bridged in are locked, not destroyed. Locked HOT Tokens can be released only by the Bridge contract, and only under multi-signature control by independent parties on proof that the corresponding Mirrored HOT has been transferred back to the Bridge. No single party, including Net Zero, can release locked HOT Tokens alone.

5.3 Bridging out. Mirrored HOT may be transferred back to the Bridge to release an equal amount of locked HOT Tokens to an Ethereum address you specify. The Bridge operates in both directions throughout the Swap Window.

5.4 Swapping HoloFuel to HOT. Only HoloFuel earned through providing network utility within the System (for example, hosting services) is eligible to be swapped into Mirrored HOT. HoloFuel received by Token Swap from HOT, or by transfer from another Participant, isn’t eligible. Eligibility is determined by the System’s rules, which are published at netzero.zone/parameters and form part of these Terms.

5.5 Swap Window. The Token Swap from Mirrored HOT to HoloFuel is available from 1 November 2026 and will remain available for not less than six months from that date. We’ll give not less than 60 days’ notice at netzero.zone before closing the Swap Window. Bridging out of Mirrored HOT to HOT Tokens isn’t limited by the Swap Window.

5.6 No reversal. A completed Token Swap from Mirrored HOT to HoloFuel can’t be reversed. HoloFuel isn’t eligible for swap back to HOT unless section 5.4 applies.

5.7 Your responsibility. You are responsible for the accuracy of every address and amount you submit, for the security of your keys and devices, for gas and other network costs on Ethereum, and for the consequences of sending HOT Tokens to any address other than the Bridge contract address published at netzero.zone/parameters. Transfers to any other address can’t be recovered by us.

6. HoloFuel and your account

6.1 HoloFuel is a mutual credit accounting unit. Units are created when an account spends into a negative balance within its Credit Limit and are extinguished when that balance returns to zero. The aggregate net balance of the System is always zero.

6.2 HoloFuel is a utility credit for use within the System, including to pay for hosting services. It isn’t money, legal tender, a deposit, a security, a financial instrument or a representation of any of these. It carries no equity, governance, income or similar right. Net Zero doesn’t represent that HoloFuel has or will hold any particular value, that it will be accepted by anyone, or that any path to liquidity exists or will exist.

6.3 A Token Swap gives you an increased HoloFuel balance. It doesn’t give you a Credit Limit. Credit Limits are set by the System’s rules for accounts that provide services within the System, and are published at netzero.zone/parameters. At launch, Participant accounts have a Credit Limit of zero unless the published rules provide otherwise.

6.4 Your account is controlled by cryptographic keys that you hold. Net Zero can’t access your account, move your balance, or recover your keys. If you lose your keys you lose access to your HoloFuel and to any Mirrored HOT in your account, and the locked HOT Tokens it represents can’t be released.

6.5 You may transfer HoloFuel to other Participants within the System. Net Zero isn’t a party to, and doesn’t intermediate, set terms for or guarantee, any transaction between Participants.

7. Operating conditions

7.1 Net Zero will publish, and keep current, at netzero.zone/parameters: the Bridge contract address on Ethereum; the System’s eligibility and Credit Limit rules; and any operational notices.

7.2 Net Zero maintains records of Token Swaps, Bridge transactions, credit balances and material adjustments, and reports them to the Regulator as the License requires.

7.3 Net Zero may suspend the Bridge or the Token Swap where necessary to protect the System, to respond to a security incident, to comply with the License or applicable law, or where the Regulator directs. We’ll publish notice of any suspension at netzero.zone as soon as practicable. Locked HOT Tokens remain locked under the Bridge contract during any suspension and are released only through the Bridge mechanism.

8. The License and what happens if it ends

8.1 The License is provisional. Renewal is at the Regulator’s discretion and may carry conditions. The Regulator may amend, suspend or revoke the License, and Net Zero may surrender it on 60 days’ notice.

8.2 If the License expires without renewal, is revoked or is surrendered, Net Zero’s authority to conduct further Token Swaps and Bridge operations ends, but rights, obligations and liabilities arising before that point don’t. In that case Net Zero will, within its control and in cooperation with the Regulator: publish notice at netzero.zone; keep the Bridge available for bridging out of Mirrored HOT to HOT Tokens for a wind-down period of not less than 60 days or such longer period as the Regulator permits; and publish the steps Participants should take.

8.3 HoloFuel balances are records in the System’s distributed ledger. Ending of the License doesn’t erase them. Whether and how HoloFuel can be used after the License ends depends on who, if anyone, is authorised to operate the System at that time, and Net Zero makes no representation about that.

9. Changes to these Terms

9.1 We may change these Terms. Changes to the Token Swap terms, credit creation methodology, Bridge architecture or permitted digital assets require the Regulator’s prior written approval under the License, and we’ll publish them at netzero.zone when they take effect, unless the Regulator requires an earlier date. Other changes take effect on publication.

9.2 Your continued use of the System after a change takes effect is acceptance of it. If you don’t accept a change, stop using the System; you may still bridge out Mirrored HOT under section 5.3.

10. Risks

By using the System you acknowledge the risks in Schedule 1. Read it.

11. Liability

11.1 Nothing in these Terms excludes liability that can’t be excluded by law.

11.2 Subject to 11.1, Net Zero isn’t liable for: loss arising from your keys, devices, addresses or network choices; the performance, availability or security of the Ethereum network, the Holochain network or any wallet or software not operated by Net Zero; the value, acceptance or liquidity of HOT Tokens or HoloFuel; acts of the Regulator or any government authority; or any indirect or consequential loss.

11.3 Subject to 11.1, Net Zero’s total liability to you under or in connection with these Terms is limited to USD 100.

11.4 The System is provided as is. Net Zero makes no warranty that it will be uninterrupted, error-free or secure.

12. Indemnity

You’ll indemnify Net Zero against loss arising from your breach of these Terms, your breach of applicable law, or any false statement you make in identity verification.

13. Communications and notices

13.1 Notices from Net Zero to Participants are given by publication at netzero.zone. You’re responsible for checking it.

13.2 Net Zero will never message you first on any channel, ask for your keys or seed phrase, or ask you to send HOT Tokens or anything else to a person or address. The only path for sending HOT Tokens to the HOT bridge is reached through the Unyt Application interface using the Transfer-In feature. Anyone asking you to send HOT is not us.

14. Governing law and disputes

14.1 These Terms are governed by the laws of the Republic of Tanzania and Zanzibar and the Regulations, Rules and Circulars of the Zanzibar Digital Free Zone.

14.2 Any dispute arising out of or in connection with these Terms shall be finally resolved by arbitration before a sole arbitrator under the dispute resolution rules applicable in the Zanzibar Digital Free Zone, seated in Zanzibar, in English. Claims are brought individually; no class, collective or representative proceedings.

15. General

15.1 If any provision is unenforceable the rest stands.

15.2 Our failure to enforce a right isn’t a waiver of it.

15.3 You may not assign these Terms; we may assign them to a successor authorised to operate the System, with notice under section 13.

15.4 These Terms, the Privacy Policy and the published parameters are the entire agreement between you and Net Zero concerning the System.

16. Contact

Net Zero FZC, company identifier ZDFZ-QME5S9FR, Zanzibar Digital Free Zone. legal@netzero.zone.

Schedule 1 — Material risks

Regulatory. Net Zero operates under a provisional licence of ninety days. It may not be renewed. Regulatory treatment of HoloFuel, HOT Tokens, the Token Swap and the Bridge in your own jurisdiction is a matter for you; it may restrict or prohibit your participation, and it may change.

Value and liquidity. HoloFuel has no established market. Net Zero doesn’t represent that HoloFuel has any value, that anyone will accept it, or that it can be exchanged for anything other than as section 5.4 provides. HOT Tokens trade on third-party venues that Net Zero doesn’t operate or control. HOT Tokens locked in the Bridge can’t be traded until bridged out.

Irreversibility. A Token Swap from Mirrored HOT to HoloFuel can’t be reversed. Transfers on Ethereum and within the System are final.

Keys and custody. You hold your own keys. Loss or compromise means loss of access and there is no recovery mechanism. Net Zero never holds your HOT Tokens or your HoloFuel and can’t retrieve them for you.

Technology. Smart contracts, bridges, multi-signature arrangements and peer-to-peer networks can contain defects or be attacked. The Bridge has been reviewed, but review doesn’t eliminate risk. Network congestion or outages on Ethereum or Holochain can delay or prevent transactions.

Counterparty. There is no counterparty to a Token Swap. It’s executed by automated software against the System’s rules. If the software or rules operate other than as described, your recourse is as these Terms provide, and no more.

Fraud. Launches attract impersonation, counterfeit sites and fake support. Only netzero.zone, holo.host, holochain.org, holoventures.io and unyt.co are official. Verify every address against netzero.zone/parameters before transacting.

Concentration. Operation of the System depends on a small team and on the continued availability of the Unyt Accounting software. If either fails, operation may be interrupted or cease.