Updated as of December 18, 2022.
This Fungus Inc.-Liquidium Loan Service Agreement (the “Agreement”) constitutes part of the Liquidium General Terms and Conditions (the “Terms”). Unless otherwise provided herein, the terms used herein shall have the meanings specified in the Liquidium General Terms and Conditions and matters not expressly stipulated herein shall be subject to the provisions in the General Terms and Conditions.
The Agreement is a contract made and entered into by and between Liquidium and Users for Liquidium’s provision of loan service to Users (the “Service”) and charging of corresponding interest. Liquidium offers loan Services to Users’ on a specific digital currency (Megapont Ape Club NFTs), and it requires Users to provide corresponding digital asset margins (the “collateral”) as the prerequisite for the loans. For convenience, “we”, and “us” hereinafter refer to Liquidium, and “you” refers to an individual user who utilizes the Service and enters into the Agreement.
Please read the Agreement carefully and use the Service only after you have fully read and understood it in its entirety. Your use of loan service provided by Liquidium means that you know, understand, and agree to all the terms of this Agreement and the terms of Liquidium’s General Terms and Conditions, including any modification and update to the Agreement made by Liquidium at any time.
You will be exposed to high transaction risks when you use the Service. To help you better understand the risks related to these transactions, you are requested to please read the following risk warning carefully.
1.1 Risks of Digital Assets and Transaction
The market for digital assets is untested and brand new. Trading digital assets involve high risks. The transactions are uninterrupted or undisturbed around the clock, there is no limitation on gains or losses, and the prices are subject to significant fluctuations due to the influence of market makers, speculators, and government policies of countries. You shall acknowledge and agree that transactions of digital assets may lead to partial or complete loss of your assets. As a result, you shall decide the use of digital assets and the number of digital asset transactions according to the degree of loss that you can bear, and you shall solely be responsible for any financial loss arising therefrom.
1.2 Risks Associated with Policies, Laws, and Regulations of Countries
Due to the formulation or modification/amendment of related laws, regulations, and policies of various countries, digital asset transactions may be halted or banned in specific countries at any time. You acknowledge and accept that all risks, losses, or consequences emerging therefrom shall be borne by you independently.
1.3 Risks of Privacy
1.4 Risks of Information and Market
Due to the novelty and transitory nature of digital asset transactions, we advise you to obtain professional guidance and help if you have any questions before conducting or carrying out a transaction. However, we do not directly offer you any suggestions on transactions or investments. You shall understand and agree that any advice, information, or recommendation that you have received or will receive from any third party has no relation with us, and all risks, losses, or consequences emerging there from shall be solely borne by you.
1.5 Risks of the Internet and the Technology
We cannot guarantee that all information, data, programs, and other things contained in the Service and corresponding digital assets and collateral assets are free from interference and loss by any malign programs such as viruses or Trojan horses. Furthermore, we have no control over the availability and stability of the Internet. The inherent risks of using the Internet for doing transactions include, but are not limited to, delays or failures of software, hardware, or Internet links, computer system failures, and other possible force majeure factors that could cause delays, suspensions, discontinuance, or deviations in the accomplishment of the Service. You acknowledge and agree that it is your personal choice to log in and use the Service or download and utilize any downloaded information, data and program, and Collateral digital assets. We have no control over the stability of server login, web page or application access or network transaction, etc. All risks, losses, or consequences caused by the aforementioned factors shall be solely borne by you.
1.6 Risks of engaging in Loan Service
To receive Liquidium Loan, you must connect your existing Stacks compatible wallet i.e “ Hiro Wallet” for Chrome & Firebox and “Xverse “ for mobile wallet. If you do not have any such wallet then you shall create one and connect it to Liquidium via the connect button. Please take note that, engaging and using such services are personal discretionary acts of a User, and you agree to be responsible for your own risk, liabilities, consequences, and/or losses emerging from such engagement or usage of such services. Without limiting the aforementioned, you affirm that you are fully aware and understand that there are significant risks associated with engagement in Loan Service, including the possibility that you could lose all digital assets associated with the relevant transaction as a result; in addition, you shall also be liable to indemnify all losses suffered by Liquidium therefrom. We will not be responsible/liable for all such risks, losses, consequences, and liabilities. If Liquidium experiences losses or incurs any liability due to this Loan Service, then you agree to indemnify us in respect of all losses suffered by us and bear all such losses and liabilities solely and independently. You allow us to take any other corrective measures we may deem appropriate or necessary.
1.7 Risks of Force Majeure
You are solely responsible for any and all risks, losses, or consequences arising from suspensions, delays, or terminations of the Service brought about by equipment or system maintenance, power failures, bad weather, epidemics, accidents, political activities, wars, government actions, orders of judicial or administrative bodies, and for other actions beyond our control or our ability, or for third-party reasons.