Risk Disclosure AND USER Agreement

 

*Last updated as of November 7, 2024

 

Please read information in this Risk Disclosure and User Agreement (“Agreement”) as a general overview of the risks associated with the services offered by Infini Labs or its affiliates (“Infini”, “Infini Labs”, “we”, “our”) . The service provides an interface that displays data for the purpose of enabling users to interface, via third-party platforms, with certain components of a set of open-sourced smart contracts deployed on decentralized blockchains and certain liquidity pools (the “Service” or “Services”). In order to use the Service, you should carefully read and abide by the Agreement. By using the Service, you confirm that you have read and accepted all the terms of the Agreement. Your use of the Service represents that you have read, understood and agreed to the Agreement and that the Agreement is legally binding on you.

We do not intend to provide investment or legal advice through the Agreement and make no representation that the Services described herein are suitable for you or that information contained herein is reliable, accurate or complete. We do not guarantee or make any representations or assume any liability regarding financial results based on the use of the information in the Agreement, and further do not advise to rely on such information in the process of making a fully informed decision whether or not to use the Services. The risks outlined in the Agreement are not exhaustive and the Agreement only outlines the general nature of certain risks associated with crypto assets, and does not discuss in detail all risks associated with holding or trading crypto assets. Users should undertake their own assessment as to the suitability of using crypto assets and associated Services based on their own investigations, research and based on their experience, financial resources, and goals. You should not deal with crypto assets unless you understand their nature and the extent of your exposure to risk.

By depositing your crypto assets into your Account, you acknowledge and agree that we will allocate these assets directly into various yield farming protocols according to your instructions. These yield farming protocols may include, but are not limited to, on-chain smart contract protocols, decentralized finance (DeFi) platforms, and other Web3 projects (collectively referred to as “Yield Products”). You retain sole and absolute control over your assets by (i) selecting the Yield Products under informed basis and (ii) having the ability to freely withdraw or redeem your assets at anytime subject to internal policy of the Yield Products. Please note that we do not exercise day-to-day control over the management of your crypto assets and you should . We will assist you in redeeming your assets at any time, subject to the policies of the Yield Products.

You acknowledge that returns generated from the Yield Products will be allocated directly to your Account at intervals determined by the Yield Products subject to necessary service fees we might deduct during the redemption process. You should note and understand that we are not a registered or licensed investment advisor in any jurisdiction, and thus the requirements of fiduciary duty does not apply to us.

You should be aware that your purchase of our Service involves a high degree of risk. You represent you are a professional or matured investor meeting suitability qualifications and are capable of undertaking the potential risks of investing in the Yield Products. There can be no assurance that the financial objectives will be achieved, or that you will receive a certain percentage return of your purchase, regardless of any promotional statements made on our website or in other marketing materials, from the Yield Products. The Yield Products are provided by third party without any guarantee of the preservation of principal. Past performance of the Yield Products is not indicative of future results. The performance benchmark is not the expected rate of return and does not represent the future performance or actual returns of the Yield Products, nor does it constitute a commitment to the Yield Products’ returns.  In addition, there will be occasions when we and our affiliates may encounter potential conflicts of interest in connection with the Yield Products.

You represent and acknowledge that all of the answers, statements and information you provided with us are true and correct on the date hereof and will be true and correct as of each date. You hereby agree to provide such additional information related to the foregoing as is requested by Infini and to notify us promptly of any change that may cause any answer, statement or information become untrue in any material respect.

Eligibility

To be eligible to use the Service: (i) you must be at least eighteen (18) years old and legally competent to enter into these Terms; (ii) you must not be a resident of sanctioned jurisdictions according to any trade embargoes, UN Security Council Resolutions (“UNSCR”) or HM Treasury’s financial sanctions regime; and (iii) you must not be currently the subject of or subject to economic sanctions such as the United Nations Security Council Sanctions List, the list of specially designated nationals maintained by OFAC, the denied persons or entity list of the U.S. Department of Commerce or any similar list maintained by any other relevant sanctions authority. If you are using our Services on behalf of a legal entity, you further represent and warrant that: (iv) the legal entity is duly organized and validly existing under the applicable laws of the jurisdiction of its organization; and (v) you are duly authorized by such legal entity to act on its behalf. You can only use our Services if permitted under the laws of your jurisdiction. For the avoidance of doubt, you may not use our Services if you are located in, or a citizen or resident of any state, country, territory or other jurisdiction where your use of our Services would be illegal or otherwise violate any applicable laws. Please make sure that these Terms are in compliance with all laws, rules, and regulations that apply to you. You agree that you are only using our Services with legally-obtained funds that rightfully belong to you. By using the Service, you represent and warrant that you meet all eligibility requirements that we outline in these Terms. We may still refuse to let certain people access or use the Service, however, and we reserve the right to change our eligibility criteria at any time.

Special Notice For Hong Kong Residents

If you deem yourself as a Hong Kong resident, you hereby represent and acknowledge, in connection with using our Service pursuant to our terms and conditions, that:

 

1. You are a “professional investor”^[1] pursuant to Part 1 of Schedule 1 to the Hong Kong Securities and Futures Ordinance (Cap. 571) (as amended) and any other rule made thereunder, and in effect as of the date hereof by reason of being an individual, either alone or with any of its associates on a joint account, having a portfolio of not less than HKD 8 million or its equivalent in any foreign currency.^[2]

 

2. You understand that our Services have not been authorized by the Securities and Futures Commission of Hong Kong (the “SFC”), and the Agreement and other terms and conditions have not been reviewed or approved by the SFC, nor has a copy of them been registered by the Registrar of Companies of Hong Kong. You have been advised to exercise caution in relation to the offer or solicitation and in case doubt about any of the contents of the Agreement, you should seek independent professional advice.

Risk Disclosure

 

Note that specific disclosures and terms of service will also apply, which have been published separately. Users should refer to those terms in addition to the disclosures herein when deciding whether to utilize the Services.

For the purpose of the Agreement, “you”, “your”, and “User” mean a user of our services and “we”, “us”, “our”, or “Infini”, mean Infini Labs. Users are strongly advised to read the Agreement carefully before deciding to start using the Services.

RISK OF DEALING WITH CRYPTO ASSETS CAN BE SUBSTANTIAL AND YOU SHOULD, THEREFORE, CAREFULLY CONSIDER WHETHER SUCH ACTIVITY IS APPROPRIATE FOR YOU IN LIGHT OF YOUR CIRCUMSTANCES AND FINANCIAL RESOURCES. The following considerations, which are not exhaustive, among others, should be carefully evaluated before entering in the Services:

Crypto Assets Are Not Legal Tender In Most Jurisdictions

Most crypto assets are not backed by any central government or legal tender (except in few, discrete cases), meaning each country has different standards. There is no assurance that a person who accepts crypto assets as payment today will continue to do so in the future. Holders of crypto assets put their trust in a digital, decentralized, and partially anonymous system that relies on peer-to-peer networks and cryptography to maintain its integrity, and neither vendors nor individuals have an obligation to accept crypto assets as payment in the future;

Loss of value, Volatility and Uncertainty of Future Performance

There is typically limited or no fundamental reasoning behind the pricing of crypto assets, creating the risk of volatility and unpredictability in the price of crypto assets relative to fiat currencies. Crypto assets have had historically higher price volatility than fiat currencies, including irrational and extreme moves in price as the process for valuation can be speculative and uncertain.

Liquidity Risk

Crypto assets can have limited liquidity that can make it difficult or impossible to sell or exit a position when desired. This can occur at any time, especially during periods of high volatility.

Market Forces

Trading in crypto assets may be susceptible to irrational market forces, such as speculative bubbles, manipulation, scams, and fraud.

Financial Crime and Cyber Attacks

Cyber crime relating to crypto assets can be more prevalent than other financial crime as the ecosystem is totally digital and traditional governance and risk mitigants may be lacking. For example, a 51% attack is an attack on a blockchain by any person or group of persons who control more than 50% of the network. Attackers with majority control of a network can interrupt the recording of new blocks, alter payment history, and subvert funds. Users are susceptible to malware and fake/hijacked addresses and other forms of cyber-attacks and Users should always take care of passwords and double check the addresses and URLs before loading software or interacting with any platform, protocol, or service.

Absence of Control

Infini is not a broker, agent or advisor and has no fiduciary relationship or obligation to Users in connection with any transaction or other decision or activity undertaken by you using the Services. We do not control whether your use of the Services is consistent with your financial goals. It is up to Users to assess whether their financial resources are appropriate for their respective activity with us and risk appetite in the products and services you use.

Availability of Services

We do not guarantee that the Services will be available at any given time or that the Services will not be subject to unplanned service interruptions or network congestion. You may not be able to buy, sell, store, transfer, redeem, send, or receive crypto assets when you want to.

Technology Risk

The risks of crypto assets being transacted via new technologies (including distributed ledger technologies) include, among other things, anonymity, irreversibility of transactions, accidental transactions, transaction recording, and settlement. Transactions in crypto assets on a blockchain relies on the proper functioning of complex software, which exacerbates the risk of access to or use of crypto assets being impaired or prevented. Moreover, there is risk of failures, defects, hacks, exploits, protocol errors, or unforeseen circumstances that might occur in connection with a crypto asset or the technologies on which the crypto asset is based.

Irreversible Transactions

Transactions in crypto assets are generally irreversible. As a result, losses due to fraudulent or accidental transactions may not be recoverable.

Third Party Risk

Third parties, including but not limited to our payment providers, custodians, protocols, exchanges, and banking partners, may be involved in the provision of the Services. You may be subject to the terms and conditions of these third parties, and Infini shall not be liable for any losses these third parties may cause you.

Taxation and Disclosure of Information

You are responsible for determining the taxes to which you may be subject and their application when using the Services. It is your responsibility to report and pay any taxes that may arise from transactions and you acknowledge that Infini does not provide legal or tax advice regarding such transactions. If you have concerns about your tax treatment or obligations you may wish to seek independent advice.

You understand that when, where, and as required by applicable law, Infini will disclose available information relating to transactions transfers, distributions or payments to the appropriate regulatory and tax authorities or other public authorities. Similarly, when, where and as required by applicable law, Infini will withhold taxes related to your transactions, transfers, distributions or payments.

No Investment and Legal Advice

Communications or information provided by Infini shall not be considered or construed as investment advice, financial advice, trading advice, or any other type of advice. The User is the only party who can determine whether an investment, investment strategy or related transaction is appropriate based on his or her personal investment objectives, financial situation and risk tolerance, and shall be solely responsible for any losses or liabilities that may result.

Regulatory Risk

The regulation of crypto assets and platforms is uncertain in many jurisdictions and Infini cannot be held responsible for compliance with legal rules of countries from which customers, on their own initiative, access the Services. Moreover, changes in rules applicable to crypto assets may considerably impact on the prices of those assets and are unpredictable. You further acknowledge the above list of risks is non- exhaustive and there may also be unpredictable risks.

ANNEX A

 

Professional Investor Notice

 

Infini Labs may,under certain circumstances, be required to obtain a license from the Securities Futures Commission of Hong Kong to undertake asset management related activities under the Securities and Futures Ordinance (Chapter 571 of the laws of Hong Kong).

 

You, the user, confirm that you are eligible to become a professional investor by reason of your being within a category of person described in the Securities and Futures (Professional Investor) Rules (Chapter 571D of the laws of Hong Kong) (“Professional Investor”) and understand the consequences of consenting to being treated as a Professional Investor. As a consequence of categorizing you as a Professional Investor, Infini is not required to fulfill certain requirements under the Code of Conduct for Persons Licensed by or Registered with the Securities and Futures Commission of Hong Kong and other Hong Kong regulations. Furthermore, under the Securities and Futures (Contract Notes, Statements of Account and Receipts) Rules (Chapter 571Q of the laws of Hong Kong), Infini is not required to provide you with any contract notes and/or monthly statements of your account.

 

We will notify you of any material change to the information provided in the Agreement. If there is any material change of information in relation to your identification or registration, you undertake to notify us accordingly.

 

You acknowledge that you are aware of the fees chargeable under the Service and that you have had the meaningful opportunity to ask questions about such fees and that you are clear and satisfied as to the level of fees payable.

 

Risk disclosure statements

 

You, as the user, were invited to read the all relevant documents relating to the Service and you have been invited to read the risk factors and/or risk disclosure statement. You have been invited and have been given the opportunities to ask questions and that you have the opportunity to take independent advice relating to your decision to use our Service. You are knowledgeable and have sufficient expertise in investment of this nature and are aware of the risks involved in this nature.

 

Risks of client assets received or held outside Hong Kong

 

Assets received or held by licensed or registered person outside Hong Kong are subject to the applicable laws and regulations of the relevant overseas jurisdiction which may be different from the Securities and Futures Ordinance (Chapter 571 of the laws of Hong Kong) and the rules made thereunder. Consequently, such client assets may not enjoy the same protection as that conferred on client assets received or held in Hong Kong.

 

 

1. Please refer to Annex A attached to this Agreement.
2. Either (i) as stated in a certificate issued by an auditor or a certified public accountant of the individual within 12 months before the date hereof, or (ii) as ascertained by referring to one or more custodian statements issued to the individual (either alone or with the individual's associate) within 12 months before the date hereof.