The website https://www.electraprotocol.com (hereinafter, referred to as the “Website”) provides information and material of a general nature. You are not authorized and nor should you rely on the website for legal advice, business advice, or advice of any kind. You act at your own risk in reliance on the contents of the Website. Should you decide to act or not act, you should contact a licensed attorney in the relevant jurisdiction in which you want or need help. In no way are the owners or contributors to the website responsible for the actions, decisions, or other behavior taken or not taken by you in reliance upon the Website.
The website may contain translations of the English version of the content available on the website. These translations are provided only as a convenience. In the event of any conflict between the English language version and the translated version, the English language version shall take precedence. If you notice any inconsistency, please report them to us at firstname.lastname@example.org.
Risks Related to the Use of Electra Protocol
The Website will not be responsible for any losses, damages, or claims arising from events falling within the scope of the following five categories.
- Mistakes made by the user of any Electra Protocol related software or service, e.g., forgotten passwords, payments sent to wrong Electra Protocol addresses, and accidental deletion of wallets.
- Software problems of the Website and/or any Electra Protocol related software or service, e.g., corrupted wallet file, incorrectly constructed transactions, unsafe cryptographic libraries, malware affecting the Website and/or any Electra Protocol related software or service.
- Technical failures in the hardware of the user of any Electra Protocol related software or service, e.g., data loss due to a faulty or damaged storage device.
- Security problems experienced by the user of any Electra Protocol related software or service, e.g., unauthorized access to users’ wallets and/or accounts.
- Actions or inactions of third parties and/or events experienced by third parties, e.g., the bankruptcy of service providers, information security attacks on service providers, and fraud conducted by third parties.
The investment in Electra Protocol can lead to loss of money over short or even long periods. The investors in Electra Protocol should expect prices to have large range fluctuations. The information published on the Website cannot guarantee that the investors in Electra Protocol would not lose money.
Risk of Impermanent Loss
In providing liquidity for a XEP trading pair on a decentralized exchange, the price of the tokens in a liquidity pool can diverge in any direction. The more divergence there is, the more impermanent loss a user (i.e. liquidity provider) suffers. This process is called impermanent because it can be temporary. When the price of the tokens returns to the original value the user had invested, the loss is erased. Impermanent loss is also reduced by the trading fees a liquidity provider earns. This is a common occurrence in liquidity pools, but it can become a permanent loss if the user decides to withdraw their liquidity.
Compliance With Tax Obligations
The website users are solely responsible for determining what, if any, taxes apply to their Electra Protocol transactions. The owners of, or contributors to, the Website are NOT responsible for determining the taxes that apply to Electra Protocol transactions.
Electra Protocol Coins
The Website does not store, send or receive Electra Protocol coins (XEP). This is because all Electra Protocol coins exist only by virtue of the ownership record maintained in the Electra Protocol blockchain network. Any transfer of title in Electra Protocol coins occurs within a decentralized Electra Protocol blockchain network, and not on the Website.
The Website is provided on an “as is” basis without any warranties of any kind regarding the Website and/or any content, data, materials and/or services provided on the Website.
Limitation of Liability
Unless otherwise required by law, in no event shall the owners of, or contributors to, the Website be liable for any damages of any kind, including, but not limited to, loss of use, loss of profits, or loss of data arising out of or in any way connected with the use of the Website.
The user of the Website agrees to arbitrate any dispute arising from or in connection with the Website or this disclaimer, except for disputes related to copyrights, logos, trademarks, trade names, trade secrets or patents.
THIS SERVICE/ASSET/SOFTWARE SHOULD NOT BE USED FOR PARTICIPATION/PURCHASING OF ILLEGAL GOODS, DRUGS, AND ACTIVITIES, AS IT IS STRICTLY PROHIBITED.
Electra Foundation MTÜ
Last updated: 2021-01-01