Terms of use

Last updated: May 10, 2024

Introduction

Welcome to Unbanking.io. These Terms of Use (“Terms”) govern your access to and use of the website, services, and technology platform (collectively, the “Platform”). The Platform facilitates interactions between Investors and Traders in decentralized finance environments. Unbanking is not a corporation but is in the process of transitioning to a decentralized autonomous organization (DAO). By using our Platform, you agree to comply with and be bound by these Terms.

Acceptance of Terms

By registering for and using the Platform, you affirm that you have read, understood, and agree to these Terms. If you do not agree with any part of these Terms, you must not use the Platform.

Changes to Terms

Unbanking.io reserves the right, at its sole discretion, to modify or replace these Terms at any time. If a revision is material, we will provide at least 30 days’ notice prior to any new terms taking effect. What constitutes a material change will be determined at our sole discretion.

Platform Services

Unbanking.io provides a blockchain-enabled platform for Investors to contribute funds to Traders who engage in trading activities with the aim of generating returns. The Platform leverages smart contract technology to offer transparency and security in all transactions.

Account Registration and Requirements

To use certain features of the Platform, you must register for an account. You agree to provide accurate, complete, and updated information during the registration process and to update such information to keep it accurate, complete, and current.

User Conduct

You are solely responsible for compliance with all laws, rules, and regulations applicable to your use of the Platform. Any use of the Platform for illegal or unauthorized purposes is strictly prohibited.

Intellectual Property

All content on Unbanking.io, including logos, trademarks, text, graphics, and software is the property of Unbanking and is protected by international copyright and trademark laws.

Risk Disclaimer

Investing in cryptocurrencies is highly speculative and involves substantial risk of loss. Unbanking.io does not offer insured investments unless explicitly stated, and no communication through the Platform or in any other medium should be construed as such.

No Insurance

Your crypto accounts are not checking or savings accounts. We do not provide any kind of insurance to you against any type of loss, including (without limitation) losses due to decrease in value of assets, assets lost due to a cybersecurity failure, or from your or other individuals’ errors or malfeasance. In most jurisdictions crypto-assets are not considered legal tender, and most crypto-assets are not backed by any government. Neither your crypto-asset balances nor any of your transactions via the Interface or Protocol are covered by Federal Deposit Insurance Corporation (FDIC), Securities Investor Protection Corporation (SIPC), or other similar protections.

DAO Transition and Token Governance

As Unbanking.io evolves toward a decentralized autonomous organization (DAO), we aim to incorporate democratic governance structures that will enable the platform’s users to participate in decision-making processes. The following outlines our planned approach to governance and the role of governance tokens:

Transition to a DAO

Unbanking.io is in the process of transitioning from a traditional platform model to a DAO structure. This change reflects our commitment to decentralized finance and our belief in the power of community governance. The transition process will be carried out in phases, and details of each phase will be communicated to all users in advance through official channels.

Issuance of Governance Tokens

To facilitate community governance, Unbanking.io will issue governance tokens. These tokens are intended to represent voting power within the platform’s governance structure. The issuance of these tokens will follow a detailed plan that specifies:

• Eligibility Criteria: Conditions under which users can receive or purchase governance tokens.
• Distribution Mechanism: How tokens will be distributed among the community, including any initial offerings or rewards systems.
• Total Supply and Tokenomics: Total number of tokens to be issued and the economic rules that apply to them, including any mechanisms for inflation, staking rewards, or token burns.

Rights and Responsibilities of Token Holders

Holders of governance tokens will have the right to participate in decision-making processes. Specific rights include:

• Voting on Proposals: Token holders can propose changes or vote on proposed changes to the platform. This includes but is not limited to changes in operational strategies, technical updates, and alterations to the terms of use.
• Delegation of Voting Rights: If a token holder is unable to participate directly, they may delegate their voting rights to another trusted party within the platform.
• Transparency and Reporting: Token holders will receive regular reports on platform performance, voting outcomes, and changes implemented based on community decisions.

Operational Decisions Influenced by Token Holders

Token holders may influence various operational aspects of the platform, such as:

• Fee Structures: Decisions regarding the adjustment of fees charged by the platform for its services.
• Asset Inclusion: Voting on the inclusion of new assets or trading strategies on the platform.
• Platform Upgrades: Input on significant upgrades or changes to the platform’s technology stack or features.

Governance Framework

The governance framework will outline the procedural rules for submitting proposals, voting mechanisms, quorum requirements, and other administrative aspects of governance. This framework will be designed to ensure fairness, transparency, and efficiency in the governance process.

Limitations of Liability

Unbanking.io, its directors, employees, and agents will not be liable for any indirect, incidental, special, consequential or punitive damages, including without limitation, financial loss, lost profits, loss of business or anticipated savings, loss of use, loss of goodwill, or losses due to unauthorized access to or alteration of your transmissions or data.

Indemnification

You agree to defend, indemnify, and hold harmless Unbanking and its employees, contractors, agents, and officers from any and all claims, damages, obligations, losses, liabilities, costs, and expenses arising from your use of the Platform, violation of these Terms, or the infringement by you, or any third party using your account, of any intellectual property or other rights of any person or entity.

Governing Law and Jurisdiction

The User agrees to defend, indemnify, and hold harmless Unbanking, its affiliates, licensors, and service providers, and its and their respective officers, directors, contributors, contractors, agents, licensors, suppliers, successors, and assigns from and against any claims, liabilities, damages, judgments, awards, losses, costs, expenses, or fees (including reasonable attorneys’ fees) arising out of or relating to: (1) the User’s violation of these Terms of Use; (2) the User’s use of the Website, the Services, or the Protocol, including, but not limited to, the User’s interactions with the Interface or other features which incorporate the Services, use of or reliance on the Website’s content, services, and products other than as expressly authorized in these Terms of Use; (3) the User’s use or reliance on of any information obtained from the Website; or (4) any other party’s access and use of the Website or Services with the User’s assistance or by using any device or account that the User owns or controls.

Nature of Blockchain; Assumption of Risk; Waiver of Claims.

Blockchains, DEXs, DeFi, crypto-assets, the Protocol, and their related technologies and functionalities are still emerging innovations that carry a relatively high amount of foreseeable and unforeseeable risk from security, financial, technical, political, social, and personal safety standpoints. The mere access to and interaction with blockchains requires high degrees of skill and knowledge to operate with a relative degree of safety and proficiency. Crypto-assets are highly volatile in nature due to many diverse factors, including without limitation use and adoption, speculation, manipulation, technology, security, and legal and regulatory developments and application. Further, the speed and cost of transacting with cryptographic technologies, such as blockchains like those underlying the Protocol, are variable and highly volatile. Moreover, the transparent nature of many blockchains means that any interactions the User has with the Protocol and any blockchain may be publicly visible and readable in human form. By accessing and using the Website or the Services, the User acknowledges the foregoing, and agrees and represents that it understands and assumes such and other risks involved with blockchains, DeFi, the Protocol, and related technologies (including without limitation any specific technical language used in this Agreement). The User further represents that it has all knowledge sufficient to work, and is informed of all foreseeable risks and the possibility of unforeseeable risks, associated with blockchains, crypto-assets, Web3 Utilities, smart contracts, the Interface, the Protocol, and the Services. The User further acknowledges, and assumes all risk related to the possibility, that any information presented via the Website, Interface, or Services may be inaccurate, possibly due to another party’s malicious activities and possibly to the User’s severe harm or detriment. The User agrees that we are not responsible for any of these or related risks, do not own or control any blockchain and that the Protocol itself is managed by a dispersed group of individual DAO contributors who cannot guarantee the safe or accurate functioning of the Services, and shall not be held liable for any resulting harms, damages, or losses incurred by or against the User experiences while accessing or using the Website or the Services. Accordingly, the User acknowledges the foregoing, represents its understanding of the foregoing, and agrees to assume full responsibility for all of the risks of accessing and using the Website and interacting with the Services, whether mentioned in this Section or otherwise. The User further expressly waives and releases us from any and all liability, claims, causes of action, or damages arising from or in any way relating to the User’s use of the Website and the User’s interaction with the Services.

No Professional Advice.

All information or content provided or displayed by the Website (including, without limitation, on the Interface) is for informational purposes only and should not be construed as professional advice (including, without limitation, tax, legal, or financial advice). The User should not take or refrain from taking any action based on any information or content displayed or provided on the Website, on the Interface, or through the Services. The User should seek independent professional advice from an individual licensed and competent in the appropriate area before the User makes any financial, legal, or other decisions where such should be considered prudent. The User acknowledges and agrees that, to the fullest extent permissible by law, it has not relied on Unbanking, the content on the Website, the Interface, or the Services for any professional advice related to its financial or legal behaviors.

Termination

Unbanking may terminate or suspend access to our Platform immediately, without prior notice or liability, for any reason whatsoever, including without limitation if you breach the Terms.

Miscellaneous

If any provision of these Terms is held to be invalid or unenforceable, that provision will be enforced to the maximum extent permissible, and the other provisions of these Terms will remain in full force and effect.

Entire Agreement.

These Terms of Use and any other document incorporated by reference herein constitute the sole and entire agreement between the User and Unbanking.io regarding the Website and supersede all prior and contemporaneous understandings, agreements, representations, and warranties, both written and oral, regarding the Website.