Legal

Terms of use

Beta terms, last updated 16 September 2026. A fuller agreement is being prepared with counsel and will replace this page.

1. What Straid offers

Straid lends RLUSD against XRP. You lock XRP in a conditional escrow on the XRP Ledger that your own wallet creates, Straid pays RLUSD to that wallet, and you repay principal plus interest by a stated deadline. That is the entire service. Straid does not take deposits, does not pay yield, does not manage assets on your behalf and does not issue any token.

The binding terms of an individual loan are the agreement text shown to you before you sign, whose hash is recorded in the escrow transaction. Where this page and that agreement differ, the agreement governs your loan.

2. Who may borrow

You must be of legal age in your jurisdiction and acting for yourself.
Straid screens addresses against sanctions and internal lists, and refuses those that match.
Some countries are not served. Requests from them are refused.
You must control the wallet you borrow from. Repayment is accepted only from the borrowing wallet.

3. The loan

Interest is fixed when the loan opens and is owed in full for the term, even if you repay on the first day.
An origination fee is deducted from the amount paid to you.
Repayment is due before the deadline shown on your loan, which is earlier than the end of the term.
Missing the deadline is what lets Straid act on the collateral. The penalty rate is charged for each started day past the deadline.
You may repay in parts. Each part is credited when it lands, lowers the amount due and the price at which the loan can be called, and does not change the interest or the deadline. The collateral is released only once everything due is repaid.
Repayment must carry the destination tag shown on the loan. A payment without it, or from another wallet, is parked and returned rather than credited.
Straid credits the amount the ledger reports as delivered.
Current parameters are published at /v1/limits and can change for new loans. They never change for a loan already open.

4. Your collateral

The XRP sits in an escrow created by your own transaction, and Straid never holds your keys. For the life of the loan the ledger holds the collateral. Two things can open that escrow: Straid, using the secret committed to in the escrow's condition, and the ledger's cancel time at the end of the term, after which anyone can return the XRP to you. When Straid finishes the escrow the XRP arrives in Straid's collateral account first: on repayment it is paid straight back to you in the next transaction, and on a default it covers what you owe.

Straid may use the collateral to settle the debt if the loan is not repaid by the deadline, or if the debt reaches the published share of the collateral's value. Straid applies the proceeds to the debt, interest, penalties and its costs, and returns any surplus to your address. The ceiling on those costs is published with the other parameters at /v1/limits as liquidationFeeCapBps.

5. Prices

Valuations use a median of several exchange feeds, published with its age. Feeds can be wrong, late or unavailable; Straid refuses to open loans on a stale price but cannot guarantee that any price is correct. Nothing Straid publishes is a price quotation for anything other than sizing its own loans.

6. Nothing here is advice

Straid does not give investment, tax or legal advice, and nothing on this website is a recommendation to borrow, to hold XRP or to do anything else with your money. Borrowing against a volatile asset can result in losing the collateral. Decide for yourself, or ask someone qualified.

7. Beta, and what that means

Limits are small and deliberately conservative.
Operations are partly manual, and a person may need to act before something happens.
The software has not been audited by a third party.
Straid may pause new loans at any time. Loans already open continue under their own terms.
Straid may refuse to serve any address, and will say so rather than fail silently.

8. Liability

The website and the API are provided as they are. To the extent the law allows, Straid is not liable for losses caused by market movements, by ledger or network failures, by a wallet you control, by a price feed, or by your own mistakes such as sending a repayment without its tag. Nothing in these terms excludes liability that cannot lawfully be excluded, including for fraud.

9. Changes and contact

These terms may change. A change applies to loans opened after it. Questions, complaints and anything that looks wrong: [email protected]. We would rather hear about a problem early.