Risks And Disclaimers
The https://increment.finance/ website (“Website”) is operated by or on behalf Layken Limited (“Company”, “we” or “us”) and provides a user interface for the Increment protocol (whether the mainnet or testnet version) (the “Protocol”). The Protocol is an open source protocol that enables on-chain perpetual swaps, as further described in the documentation available at https://docs.increment.finance/increment/ (“Documentation”). Before accessing the Protocol, you should review the Documentation and our Terms of Service available at https://docs.increment.finance/increment/legal/terms-of-service. In the event of any conflict between these Risks and Disclaimers and our Terms of Service, our Terms of Service will supersede and control.
Use of the Protocol, as with any decentralized finance application, entails certain risks. We have provided a list of some of the risks associated with the Protocol; however, the following discussion is not an exhaustive list of the risks associated with the Protocol and does not necessarily reflect the relative importance of the various risks. You should review the Documentation and the Terms of Use carefully and consult with your advisers before using the Protocol.
Risks associated with Cryptocurrencies
AS WITH ANY ASSET, THE VALUES OF CRYPTOCURRENCIES, DIGITAL ASSETS, TOKENS OR SECURITIES (“CRYPTOCURRENCIES”) ARE VOLATILE AND MAY FLUCTUATE SIGNIFICANTLY AND THERE IS A SUBSTANTIAL RISK OF ECONOMIC LOSS WHEN PURCHASING, HOLDING OR INVESTING IN CRYPTOCURRENCIES. BY ACCESSING THE WEBSITE AND USING OUR SERVICES, YOU ACKNOWLEDGE AND AGREE THAT: (A) YOU ARE AWARE OF THE RISKS ASSOCIATED WITH TRANSACTIONS IN CRYPTOCURRENCIES THAT ARE BASED ON BLOCKCHAIN AND CRYPTOGRAPHY TECHNOLOGIES AND ARE ISSUED AND MANAGED IN A DECENTRALIZED FORM; (B) YOU ASSUME ALL RISKS RELATED TO THE USE OF THIS WEBSITE AND TRANSACTIONS IN CRYPTOCURRENCIES USING THE PROTOCOL; AND (C) THE COMPANY SHALL NOT BE LIABLE FOR ANY LOSS OR ADVERSE OUTCOMES IN CONNECTION WITH YOUR USE OF THE WEBSITE OR CRYPTOCURRENCY TRANSACTIONS ON THE PROTOCOL.
Cryptocurrencies are neither (i) deposits of or guaranteed by a bank nor (ii) insured by the FDIC or by any other governmental agency.
The regulatory regime governing blockchain technologies and cryptocurrencies is uncertain, and new regulations or policies may materially adversely affect the potential utility or value of such cryptocurrencies and digital assets. There also exists the risks of new taxation of the purchase or sale of cryptocurrencies. All of the foregoing may result in volatility of cryptocurrency prices.
You should conduct your own due diligence of any cryptocurrencies, and the developers or issuers behind those cryptocurrencies, and consult your advisors prior to making any investment decision. You are solely responsible for determining whether any investment, investment strategy or related transaction is appropriate for you according to your personal investment objectives, financial circumstances and risk tolerance, and you shall be solely responsible for any loss or liability therefrom. You should consult legal or tax professionals regarding your specific situation.
We cannot control how third-party exchange platforms quote or value cryptocurrencies and other digital assets and we expressly deny and disclaim any liability to you and deny any obligations to indemnify or hold you harmless for any losses you may incur as a result of fluctuations in the value of cryptocurrencies.
The Protocol is a purely non-custodial application, meaning we do not ever have custody, possession, or control of your cryptocurrencies at any time. Thus, you are solely responsible for the custody of the cryptographic private keys to the wallets you hold and you should never share your wallet credentials or seed phrase with anyone. We accept no responsibility for, or liability to you, in connection with your use of any wallet and make no representations or warranties regarding how the Interface or the Protocol will operate with any specific wallet. Likewise, you are solely responsible for any associated wallet and we are not liable for any acts or omissions by you in connection with or as a result of your wallet being compromised.
We do not recommend whether any particular cryptocurrencies should be bought, earned, sold, swapped or held by you and we will not be held responsible for the decisions you make based on the information provided by us on this Website.
Risks associated with Blockchain Protocols and Smart Contracts
By using the Website, you represent that you have sufficient knowledge and experience in business and financial matters, including a sufficient understanding of blockchain technologies, cryptocurrencies, storage mechanisms (such as wallets), distributed computing, and blockchain-based software systems to be able to assess and evaluate the risks and benefits of use of the Protocol, and that you are able to bear the risks of using the Protocol including a complete loss of any funds transacted by you using the Protocol and the risk that any cryptocurrencies in which you transaction may lose all value. You acknowledge and agree that there are risks associated with using distributed protocols. We do not operate, run or deploy the Protocol. Instead, the Protocol is operated on a distributed basis by other users of the Protocol. The Protocol is subject to change, as determined by the Protocol’s governance mechanism, and we are not responsible for any changes in the Protocol or any resulting incompatibility between the Interface and the Protocol.
We do not have control over users of the Protocol, which may be accessed through means other than the Interface, and you hereby assume the risks of interacting with such users.
Smart contracts execute automatically when certain conditions are met. We do not have the ability to reverse a transaction that is recorded on a public blockchain. You are responsible for ensuring that any details entered you enter in connection with a transaction using any smart contracts are accurate and complete. We are not responsible for any losses due to your errors, including an incorrectly constructed transaction.
All smart contracts are subject to risks. The Increment contracts have undergone testing, code reviews, internal audits and several external audits, but it is possible that they may still contain unknown bugs and produce economic errors that are inherently unforeseeable. Further, since smart contracts cannot be stopped or reversed, vulnerabilities in their programming and design or other vulnerabilities that may arise due to hacking or other security incidents may lead to irreversible losses.
You acknowledge that there are inherent risks associated with using or interacting with public blockchains and distributed technology. There is no guarantee that the Protocol will continue to be available or that the Protocol will not be subject to errors, hacking or other security risks. The Protocol may also be subject to changes in operating rules, including forks, and it is your responsibility to make yourself aware of upcoming operating changes. We do not control the Protocol and are not responsible for changes in its functionality.
In addition, we do not warrant that this Website will meet your needs, or that it will be uninterrupted, timely, secure or error-free, that defects will be corrected, or that this Website or the server that makes it available are free of viruses or other harmful components. However, the Protocol will continue to operate even if the Interface is not available. Any funds deposited by you in the smart contracts associated with the Protocol will remain in those smart contracts, even if you are unable to access them through the Interface.
In certain cases, your transactions through the Services may not be successful due to an error with the Protocol, the Interface or your wallet. We accept no responsibility or liability to you for any such failed transactions, or any transaction or gas fees that may be incurred by you in connection with such failed transactions.
For additional smart contract protocol or system related risks, such as economic, actor, dependency induced risks, see Risks.
No Investment or Other Professional Advice
This Website and any information or materials contained in it do not constitute the distribution, an offer or solicitation of any kind to purchase or sell any product, security or instrument whatsoever nor should they be construed as providing any type of investment or other advice or recommendations by us, any of our affiliates or third parties to any person in any jurisdiction where such distribution, offer, solicitation, purchase or sale would be unlawful under the laws of such jurisdiction. Moreover, the Website does not include, and the Company does not give, investment advice, endorsement, analysis or recommendations with respect to any cryptocurrencies or provide any financial, tax, legal advice or other professional advice or services of any kind. We do not make any investment recommendations, and no communication, through this website or in any other medium, is intended as or should be construed as advice or recommendation for any cryptocurrencies offered on or off this website or any other sort of advice. You should not rely on the Website for any such advice. We are not your broker, intermediary, agent, or advisor and have no fiduciary relationship or obligation to you in connection with any trades or other decisions or activities effected by you using this website. No advice or information contained on the Website will create any warranty or representation.
Last modified 5d ago