SimplFi Product Disclosures

Last updated: August 31, 2026

Operator: Dork Labs Inc., a Wyoming corporation (“we,” “us”)

Product: SimplFi (simplfi.xyz)

Related: Terms of Service · Privacy Policy

Support: support@simplfi.app

These disclosures explain how SimplFi works and the main risks of using it. They apply whenever you use SimplFi, including Savings, Borrow, Portfolio, Account, Get Started (deposit, withdraw, and cash-out), and the DorkFi protocol markets that SimplFi uses.

SimplFi is a consumer interface over the DorkFi protocol on Algorand. It is not a bank, broker, exchange, or insured deposit product.

By using SimplFi you also agree to our Terms of Service and Privacy Policy.

1. What SimplFi is — and is not

In production, SimplFi lets you:

• Supply native USDC on Algorand to a DorkFi lending market (“Savings”).
• Borrow native USDC against that savings (“Borrow”).
• View and manage an open borrow (“Portfolio”).
• Create an account via Get Started (email / social / passkey through Privy), move USDC between Base and Algorand, and cash out through third-party partners.

SimplFi is not:

• A bank, credit union, or deposit-taking institution.
• An FDIC-, SIPC-, or government-insured account.
• A custodian of your assets (see §6).
• An investment adviser, broker-dealer, or a traditional consumer lender.
• A guarantee of yield, principal, a USDC peg, or the ability to withdraw or cash out at any time.

Words like “savings,” “account,” “loan,” and “APY” are product labels. They describe on-chain protocol positions, not a bank savings account or a consumer installment loan.

Production SimplFi does not offer other DorkFi assets, wrapped or third-party USDC, or higher-risk yield products. If you use DorkFi or another interface, different markets and risks may apply; these disclosures cover SimplFi only.

2. Yield is not guaranteed

Displayed APY / APR figures are estimates based on current market utilization and protocol rate curves. They:

• Change continuously as supply, borrow demand, and parameters change.
• Can fall to zero (or near zero).
• Are not a promised, fixed, or advertised “interest rate” in the banking sense.
• Are not annualized returns you should expect to realize.
• Do not include slippage, bridge spreads, partner fees, network fees, or the effect of liquidation.

Past or displayed rates are not indicative of future rates. You can lose deposited value for reasons unrelated to the headline APY (see §§3–10).

There is no insurance, compensation fund, or operator backstop if a market underperforms or a protocol event occurs.

3. Borrows can be liquidated

Borrowing on SimplFi is overcollateralized. You supply native USDC as collateral and borrow native USDC against it, subject to the market’s collateral factor and liquidation threshold.

Using the same asset on both sides does not eliminate liquidation risk. Borrow interest typically accrues faster than savings yield, so your loan-to-value can worsen over time even if the USDC price is unchanged. Oracle prices and market parameters also affect how close you are to liquidation.

If the value of your collateral relative to your debt falls to or below the liquidation threshold (SimplFi may show this as “loan safety” rather than a health factor):

• Third parties can liquidate your position.
• Some or all of your savings can be seized to repay debt, often at a penalty.
• You can lose more than you expected, including a large share of your savings balance.
• Liquidation can happen without further notice from us, including while you are offline, because it is executed by the protocol and liquidators—not by SimplFi staff.

You are responsible for monitoring your position, adding collateral, or repaying. SimplFi does not automatically repay, rebalance, or protect your loan.

Availability depends on market listings, caps, and liquidity. A displayed rate does not mean you can borrow that amount.

4. USDC is not cash, and it is not issued by us

Production SimplFi uses native USDC on Algorand (Circle USDC, ASA 31566704) for savings and borrows.

USDC is not:

• U.S. dollars, a bank deposit, or e-money issued by Dork Labs.
• FDIC-insured or guaranteed by Dork Labs, DorkFi, Circle, or any government.
• Immune to depeg, freeze, blacklist, issuer, or chain events.

Circle and the USDC contracts — not SimplFi — control issuance, redemption, and any asset-level restrictions. USDC can trade away from $1, become illiquid, or become unavailable to transact. A “$1.00” display in the app is a price convention, not a promise you can always redeem 1 USDC for 1 USD through us.

We do not issue USDC. Cash-out to dollars, if available, is only through third-party partners (see §7) and is not guaranteed.

5. Wallets, keys, and custody

Connect Wallet

If you connect Pera, Defly, or another external wallet, you control the keys. Transactions execute on-chain only after you sign. We cannot reverse, freeze, or recover those funds.

Get Started (Privy)

Get Started creates an embedded wallet via Privy (typically an EVM wallet on Base) and a derived Algorand address used with DorkFi markets.

• Dork Labs / SimplFi does not take possession of your assets as a custodian and cannot sign for you without the Privy session flow.
• Key material is handled by Privy’s infrastructure under Privy’s terms and privacy policy. That is not the same as a hardware wallet you fully self-custody.
• If you lose access to the email, social account, passkey, or Privy recovery method, we cannot restore the wallet.
• You still must approve each on-chain action (deposit, withdraw, borrow, repay, bridge, cash-out transfer).

Keep your login methods secure. Anyone who can access your Get Started session can move funds.

6. Third-party services

SimplFi orchestrates other companies’ products. Those companies have their own terms, KYC/AML, fees, delays, failure modes, and geographic limits. We are not those companies.

A successful SimplFi screen does not mean the partner or the chain has settled. Always confirm on a block explorer and, for cash-out, in the partner’s UI.

Fiat on-ramp and off-ramp identity verification sits with MoonPay, Coinbase, Stripe, and similar partners, not with SimplFi as a money transmitter. Using those flows may share information with those partners as described in our Privacy Policy and theirs.

7. Smart contract, oracle, and operational risk

Using SimplFi means using experimental software and public blockchains. Risks include, without limitation:

• Bugs or economic design issues in DorkFi, USDC, bridges, or related contracts.
• Oracle or price-feed errors, delays, or manipulation (liquidation and health depend on these prices).
• Governance or admin parameter changes (caps, liquidation thresholds, listings, pauses).
• Interface, RPC, or API outages so you cannot repay or withdraw when you need to.
• Front-running, MEV, or liquidator competition.
• Regulatory or partner shutdown of a region, asset, or rail.

Audit, open-source status, or a live market is not a guarantee of safety. You can lose some or all of the value you supply or borrow.

8. Bridging, cash-out, and irreversibility

Moving USDC between Base and Algorand, and cashing out to fiat, are separate from supplying or borrowing on DorkFi.

• Bridge and off-ramp quotes are not guaranteed fills.
• Minimums, maximums, and partner liquidity apply.
• Sending to the wrong address or chain is typically irreversible. We cannot retrieve those funds.
• Cash-out pays to your relationship with Coinbase or MoonPay (bank account, Coinbase account, etc.). We do not hold that payout.

Do not bridge or cash out more than you can afford to have delayed or stuck.

9. Fees

You may pay some or all of:

• DorkFi protocol interest and any protocol fees.
• Algorand network fees (and, where relevant, a small ALGO balance to transact).
• Base network fees for Privy / USDC transfers.
• XO Swap spread and partner fees.
• Card, Apple Pay, MoonPay, Coinbase, and Stripe fees and FX.
• Liquidation penalties if your borrow is liquidated.

SimplFi does not always show every downstream fee in one number. Review the transaction preview, partner screens, and on-chain result.

10. Limits, availability, and who can use SimplFi

Markets have supply and borrow caps. A displayed APY does not mean you can deposit or borrow that amount. Caps, pauses, and listings can change.

XO Swap and some on/off-ramps are geo-restricted. We do not promise service in every country. You are responsible for using SimplFi only where it is lawful.

We may disable Get Started, cash-out, or the entire interface (for example by turning off Privy onboarding) without guaranteeing you an alternate UI. Protocol positions remain on-chain; you may need another DorkFi-compatible interface or your own wallet to manage them.

11. No advice; your responsibility

Nothing in SimplFi — including APYs, “loan safety,” calculators, charts, or educational copy — is investment, legal, tax, or credit advice, or a recommendation to supply, borrow, or hold any asset.

You are solely responsible for:

• Understanding the transaction you sign.
• Tax reporting in your jurisdiction.
• Whether this activity is allowed where you live.
• Keeping credentials, devices, and recovery methods secure.

12. Experimental product

SimplFi is an early product (including invite-only or capped launches). Features can be incomplete, copy can lag the contracts, and markets can be paused. Use only funds you can afford to lose.

13. Contact

Questions about these disclosures: support@simplfi.app

Security: security@simplfi.xyz

Dork Labs Inc. is a corporation formed in Wyoming. These disclosures do not modify the Terms of Service if there is a conflict; the Terms control, including any governing-law clause. We may update this page; the “Last updated” date is the effective date of the posted version.