Illiqua · Terms of Service

Terms of Service

These terms govern your use of Illiqua, operated by Backerston Labs UG (haftungsbeschränkt) ("we," "us," "Illiqua"). By using the platform, you agree to them.

Effective August 5, 2026. This is our first version and is under legal review.

What Illiqua Is

Illiqua lets you purchase a fractional ownership certificate, minted as an NFT on the XRP Ledger, representing a share in a physical artwork held by Illiqua. The artwork itself stays intact and in our custody. Your certificate represents your fractional interest in it.

What A Certificate Is, And What It Is Not

•A certificate represents fractional ownership of the artwork. It does not transfer copyright, reproduction rights, or any right to display, print, or otherwise reproduce the artwork or its image.
•Owning a certificate does not entitle you to physical possession of the artwork.
•Certificates are transferable on the XRP Ledger like any other NFT, subject to the ledger's own rules and any transfer fee set at mint.

How A Purchase Works

•You connect your own wallet through Xaman. We never hold your funds or your private keys.
•Payment is made directly in XRP, from your wallet to ours, on the XRP Ledger.
•Once payment is confirmed on-chain, we mint the corresponding certificate and create an offer for you to accept it into your wallet.
•Blockchain transactions are irreversible by design. Once a payment is confirmed on the ledger, it cannot be reversed by us, by you, or by anyone else. We are still finalizing how German consumer withdrawal rights apply to a purchase of this kind, and this section will be updated once that is settled.

Fees And Charity Allocation

We retain a portion of each sale as a commission to cover Illiqua's operating costs, including legal, storage, and insurance. The remainder is allocated to our charity partner. Exact figures and payout terms will be published here once finalized.

Risks You Should Understand

•The value of a certificate is not guaranteed, and Illiqua does not represent that certificates will hold or increase in value.
•The XRP Ledger and Arweave (where certificate and artwork data are stored) are outside our control. We cannot modify or delete records once they are published there.
•Cryptocurrency and blockchain technology carry general risks, including price volatility, network issues, and the risk of user error (for example, sending funds to the wrong address). We are not responsible for losses arising from these risks.

We are still completing our regulatory review under EU crypto-asset rules, and additional risk disclosures may be added here as that work concludes.

Your Responsibilities

•You are responsible for the security of your own wallet and private keys. We cannot recover funds or certificates lost due to a compromised wallet, lost seed phrase, or similar.
•You must be at least 18 years old to use Illiqua.
•You agree not to use Illiqua for any unlawful purpose, including money laundering or attempts to circumvent applicable regulation.

Our Role And Limitations

•We are responsible for minting certificates correctly, maintaining custody and proper storage of the underlying artwork, and operating the platform in good faith.
•We are not a bank, custodian of your funds, or financial advisor. We do not provide investment advice.
•To the fullest extent permitted by law, Illiqua is provided "as is," without warranties of any kind, subject to the protections German law provides to consumers.

Changes To These Terms

We may update these terms from time to time. The updated version will be published here with a revised effective date. Continued use of Illiqua after an update constitutes acceptance of the revised terms.

Governing Law

Legal review needed: governing law and jurisdiction for disputes need to be specified by counsel, and should account for the fact that users may be located anywhere, while Illiqua is based in Germany. This is the one open item on this page still pending explicit legal confirmation.

Contact

Questions about these terms can be sent to admin@illiqua.art.