Terms of Service
Effective Date: 10/12/2024
These Terms of Service ("Terms") govern your access to and use of the Illiquids platform, a decentralized marketplace for the trading of locked UNI-V2 liquidity provider (LP) tokens, as well as all associated services provided by Illiquids ("Platform"). By accessing or using the Platform, you agree to these Terms. If you do not agree to these Terms, you may not use the Platform.
1. Acceptance of Terms: By accessing, browsing, or using the Illiquids platform, you acknowledge that you have read, understood, and agree to be bound by these Terms, as well as any additional guidelines, policies, or rules that may apply. If you are using the Platform on behalf of an organization, you represent and warrant that you have the authority to bind that organization to these Terms.
2. Eligibility: To use the Illiquids platform, you must:
Be at least 18 years of age, or the legal age of majority in your jurisdiction.
Have full legal capacity and authority to enter into these Terms.
Ensure that your use of the Platform complies with applicable laws and regulations in your jurisdiction.
By using the Platform, you represent and warrant that you meet these eligibility requirements.
3. Platform Services: Illiquids provides a decentralized marketplace that allows users to list, buy, and sell locked LP tokens, primarily those locked on third-party platforms like UNCX.network and team.finance. The platform operates on Ethereum and leverages smart contracts for transactions. Illiquids does not take custody of your funds or assets and operates as a non-custodial service.
4. User Responsibilities: When using the Illiquids platform, you agree to:
Use the Platform only for lawful purposes and in compliance with all applicable laws and regulations.
Provide accurate, up-to-date information when required, including when connecting your Ethereum wallet to the Platform.
Maintain the security of your account and private keys for any cryptocurrency wallet used in connection with the Platform.
Not engage in any activity that could harm, disrupt, or compromise the security of the Platform, including attempts to hack, exploit vulnerabilities, or manipulate smart contracts.
Not attempt to create multiple accounts, impersonate another person or entity, or misrepresent your identity or affiliation.
5. Risk Acknowledgment: By using Illiquids, you acknowledge that participating in decentralized finance (DeFi) carries significant risks, including, but not limited to:
Market risk, including loss of value in LP tokens or the Illiquids native token (QUIDS).
Smart contract risks, including the possibility of vulnerabilities or failures in the underlying blockchain technology.
Liquidity risks associated with the inability to sell or trade locked assets at desired times or prices.
Illiquids is not responsible for any losses incurred due to market fluctuations, smart contract failures, or other risks inherent to the use of DeFi protocols and digital assets.
6. Payment and Fees:
Illiquids charges a 5% transaction fee on all trades conducted on the platform, deducted from the seller’s proceeds. By using the platform, you agree to this fee structure.
Payments can be made using QUIDS (the platform’s native token) or ETH. Sellers can select their preferred payment method when creating listings.
Illiquids reserves the right to modify the fee structure at any time, subject to governance decisions by QUIDS holders.
7. Token Use and Staking:
The QUIDS token is used as a medium of exchange, governance tool, and reward mechanism within the Illiquids ecosystem.
By holding and staking QUIDS, you may participate in governance decisions, earn staking rewards, and access premium features. Staking is subject to terms set by Illiquids, and participation is at your own risk.
8. Decentralized Governance:
Illiquids employs a decentralized governance model, where QUIDS holders can vote on platform proposals and participate in decision-making.
Proposals and voting mechanisms are conducted on-chain through Ethereum smart contracts.
Illiquids is not responsible for the outcomes of governance decisions, and all users participate in governance at their own discretion.
9. Platform Modifications: Illiquids reserves the right to modify or discontinue, temporarily or permanently, any part of the Platform, including features, functionalities, and services, without prior notice. We may also update these Terms from time to time. It is your responsibility to review these Terms periodically. Continued use of the Platform after any changes indicates acceptance of the updated Terms.
10. Intellectual Property: All content, trademarks, logos, and intellectual property on the Illiquids platform, including the name "Illiquids" and the QUIDS token, are the property of Illiquids or its licensors. You agree not to use, copy, or distribute any of this content without prior written consent from Illiquids.
11. Limitation of Liability: To the maximum extent permitted by law, Illiquids and its team members, affiliates, or service providers shall not be liable for any direct, indirect, incidental, special, or consequential damages, including loss of profits, digital assets, or data, arising from your use of the platform, even if we have been advised of the possibility of such damages.
You acknowledge that the platform is provided on an "as-is" and "as available" basis and that Illiquids makes no warranties regarding its reliability, security, or suitability for any particular purpose.
12. Indemnification: You agree to indemnify and hold harmless Illiquids, its affiliates, team members, and service providers from any claims, damages, losses, or expenses (including legal fees) arising out of your use of the platform, violation of these Terms, or violation of any applicable law.
13. Governing Law: These Terms of Service shall be governed by and construed in accordance with the laws of the jurisdictions applicable to the users participating in the Illiquids platform, without regard to its conflict of law principles.
As Illiquids operates as a decentralized platform, we recognize that our users come from various countries and legal environments around the globe. Therefore, each user is responsible for understanding and complying with the laws, regulations, and rules applicable to their jurisdiction when engaging with the Illiquids platform.
In the event of any disputes arising out of or relating to these Terms of Service, users agree to first attempt to resolve the matter informally through direct communication with the Illiquids community. If an informal resolution cannot be reached, users agree that any unresolved disputes shall be addressed through binding arbitration, conducted in accordance with the rules of an internationally recognized arbitration organization chosen by mutual agreement.
14. Termination: Illiquids reserves the right to terminate or suspend your access to the platform at its discretion, including if you violate these Terms or engage in any fraudulent or illegal activity. Upon termination, you must cease using the platform and may lose access to any features, assets, or privileges associated with your account.
15. Contact Information: If you have any questions or concerns about these Terms or the Illiquids platform, please contact us at: [support@illiquids.com]
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