Per registry regulations, no .ly domain may be used, directly or indirectly, for any purpose that is sexual or pornographic in nature, or Violating rights to third parties. In the event that a specific website breaches this condition, the NIC.LY registry reserves the right to immediately deactivate the domain.

NIC.LY Regulation  – Reg.ly TERM OF USE

Now that you know what you can’t do, go and grab your .ly domain at a great price before it’s gone.