NFTs, Crypto, & Payments Policy

(Incorporated by reference into the Fisheez Terms of Service and SmartShell Escrow Agreement.)

Purpose & Scope

This policy explains how payments, NFTs, digital assets, and blockchain transactions function within the Fisheez ecosystem.

It applies to all users who buy, sell, mint, or transact through the Fisheez Platform and SmartShell contracts.

Fisheez operates strictly as a non-custodial marketplace facilitator, not a money transmitter or financial intermediary.

All payments, holds, and releases occur automatically via on-chain smart-contract logic.

Fisheez never holds or redirects user funds.

A. Supported Assets & Payments

1. Accepted Currencies
   • Fisheez supports stablecoin-based payments (e.g., USDC or equivalent) on compatible blockchains.
   • Pricing for goods, services, or NFTs may be displayed in U.S. dollars for convenience but settles on-chain.
2. Wallet Connection
   • Users must connect a compatible wallet (e.g., MetaMask, Coinbase Wallet) to complete transactions.
   • Wallet owners are solely responsible for key custody and transaction accuracy.
3. Non-Reversible Transactions
   • Blockchain transfers are immutable.
   • Refunds or reversals can occur only through SmartShell contract logic under the Dispute & Refund Policy.

B. NFT Purchases & Resales

1. Nature of NFTs
   • NFTs on Fisheez (e.g., TideTurners, Shorefronts, other verified collections) are digital collectibles and access tokens, not investment products.
   • They provide platform utilities such as discounts, listing benefits, or reputation features but confer no financial returns or profit rights.
2. Resale & Royalties
   • Secondary sales may include creator or platform royalties (e.g., up to 8% trailing fee).
   • Royalties are encoded into the smart contract and automatically distributed.
3. Transfer of Ownership
   • NFT ownership transfers on-chain; metadata and benefits attach to the verified wallet address.
   • Selling or transferring a Shorefront NFT does not transfer any active subscription benefits unless the new holder separately pays required fees.
4. Utility Alignment
   • Holding sufficient Pearls may reduce Shorefront subscription costs.
   • Pearls are an internal reputation metric, not a token and not stakeable.

C. Fee Structure

1. Listing Fees & Service Charges

   • Fisheez service fees are calculated as a percentage of the final transaction amount and displayed at checkout.
   • Fees vary by category, subscription level, and any NFT-based discount tier.

2. Discount Hierarchy

   Fisheez automatically applies the single highest discount available from either party (buyer or seller).

   Precedence:

   1. TideTurner NFT tier benefits

   2. Shorefront subscription level

   3. Limited-time promotions or campaigns

      Discounts cannot be stacked.

3. Pearl Integration

   • Pearls influence subscription pricing but never affect fund custody or contract control.

D. Escrow Logic & Timing

1. Non-Custodial SmartShell Execution
   • Payments move directly between wallets.
   • Fisheez cannot pause, reverse, or redirect funds once confirmed on-chain.
2. Recommended Duration for Shipped Goods
   • Fisheez recommends a 30-day escrow period for shipped goods.
   • Sellers may choose shorter periods, but buyers should verify delivery windows and act promptly if issues arise.
3. Early Release Option
   • Buyers may release funds early upon receiving and approving goods or services.
   • Early release closes the escrow permanently and waives further dispute rights.
4. Escrow Timing During Disputes
   • Filing a dispute does not freeze funds indefinitely.
   • It replaces the active timer with a seven-day dispute phase.
   • If fewer than three valid Peacemaker votes are cast when voting closes—or if an appeal is filed before the end of that seven-day window—the SmartShell automatically extends escrow for another seven days (the “Appeal Cycle”).
   • At the end of either the dispute or appeal phase, SmartShell executes the outcome immediately, releasing or refunding funds.
   • These fixed-duration cycles ensure that Fisheez remains a non-custodial facilitator with no discretionary control over user funds.
5. Automatic Settlement
   • If no dispute occurs before the escrow timer expires, SmartShell releases funds to the seller automatically.
   • All automatic settlements are final and irreversible.

E. Refunds & Disputes

1. Refunds can occur only through:
   • a Buyer-side dispute resolved in their favor;
   • a mutual cancellation accepted by the Seller; or
   • verified smart-contract malfunction requiring correction.
2. Refund transactions execute automatically and are permanently recorded on-chain.
3. Fisheez does not manually refund or reissue payments.

F. Taxes

1. Users are responsible for all taxes arising from their transactions, including income, VAT, or sales tax where applicable.
2. Fisheez provides transaction records for reporting but does not withhold or remit taxes on users’ behalf.

G. Legal References

• U.S. Federal Trade Commission Act §5 – Fair-dealing and disclosure obligations
• FinCEN 2019 Guidance on Convertible Virtual Currencies – Non-custodial marketplace exemption
• UETA – Uniform Electronic Transactions Act
• 47 U.S.C. §230 – Platform liability safe harbor
• Applicable state contract and digital-asset statutes

H. Purpose

This policy ensures that all NFT and crypto transactions on Fisheez occur transparently, on-chain, and without custodial control.

It defines clear timing rules for escrow, disputes, and appeals, protecting users while preserving Fisheez’s compliance as a decentralized, community-governed marketplace.