Terms Of Use

By accessing or using the Token Liquidity Network website and API located at https://bancor.network, and any linked or directed subdomain (such as https://app.bancor.network) (the “Site”) and any services made available through the Site, you (the “User” and collectively with others using the Site – “Users”) agree to be bound by these Terms of Use (“Terms”). This Site is owned and controlled by Bprotocol Foundation, a Swiss foundation, with legal seat in Zug, Switzerland, registered in the Swiss commercial register under UID CHE-181.679.849 (“Bancor”), and the terms “we,” “us,” and “our” refer to Bancor.

Please read these Terms carefully. These Terms govern your access to and use of the Site and Services (as defined herein). By using the Services or visiting the Site, you signify your consent to both these Terms and our Privacy Policy, a current version of which is available at https://www.bancor.network/privacy-policy, which is incorporated herein by reference and which may be modified from time to time at our sole discretion and without prior notice. Changes may be made to these Terms from time to time. These changes will apply at that instant to all then current and subsequent uses of the Site. You waive any right you may have to receive specific notice of such changes or modifications. Your continued use of this Site acts as acceptance of such changes or modifications. If you do not agree to the Terms in effect when you access or use the Site, you must stop using the Site. IF YOU DO NOT AGREE TO ANY OF THESE TERMS, PLEASE DO NOT USE THE SITE OR SERVICES.

1. ELIGIBILITY

By accessing or using the Site, you represent and warrant that you will not use the Site if the laws applicable to you of due to your country of residency and/or citizenship prohibit you from doing so in accordance with these Terms.

2. SERVICES

a. Our Site offers an online platform that allows you to gain access and interact with the Ethereum blockchain and presents the options of autonomous conversion mechanisms of different Smart Tokens or standard ERC20 tokens that are held by Token Relays (collectively, “Tokens”). Through the Site, you can (the following shall be referred to as the “Services”):

  • i. View information relating different Tokens;
  • ii. View the information from standard ERC20 electronic wallets (“Electronic Wallet” or “Wallet”), simply by providing a Wallet’s address ;
  • iii. Build transactions yourself (with the assistance of the Site’s interface), which you may then send to the blockchain.
  • iv. Interact and communicate with other Users on the Site, participate in discussions and receive information from the Site’s community;
  • v. Manage your Wallet (associated with the Account), enabling you to send or receive Tokens, convert between Tokens, view historical data, and easily transact on the blockchain;
  • vi. Receive notifications regarding activities in your Wallet;

The Services detailed in sub-sections i, ii and iii are available to all Users on the Site (without requiring an Account), while those detailed in sub-sections iv, v and vi are available by creating your own account on the Site (the “Account”).To create your Account, you must assign a display name Account (“Display Name”) and associate the Account to your designated Wallet.

b. Your Display Name: The Display Name can be any name of your choosing and will be displayed openly on the Site to all other Users. When choosing your Display Name, consider it will mainly be used to enable you to interact with other users on the Site. You may change your Display Name at any time.

c. Your Electronic Wallet: When using the Site or when creating an Account, you can choose to use a Wallet provided by external service providers, or the Bancor wallet provided on the Site. With your Wallet, you can store and engage in transactions using Ethereum cryptocurrency, either within the Bancor Network or with other platforms. Your Wallet is under your responsibility.While your Account enables you to access your Wallet with ease – Bancor has no access to your Wallet nor any control over its use, and accordingly Bancor and/or Bancor Parties have no liability whatsoever regarding the use of your Wallet.

d. Your Wallet Security: The access to your Wallet (and any cryptocurrency held in it) is available only with the access information and codes issued to you when establishing the Wallet (which commonly consist of a twelve (12) word mnemonic phrase, account keystore json file and/or private key) (“Wallet Access Information”). When creating an Account,your Wallet’s encrypted password file is encrypted once more before is stored in a protected file, accessible only by your password. We do not see, track, save or have access to your password which can unlock the password protected file. When choosing a password for your Wallet, remember that your Wallet may be subject to hacking attempts, which their success depends on the strength of the code you created. You can always access your Wallet using your Wallet Access Information, even if at any time your access to the Site and Services shall be disabled for any reason whatsoever.

For the protection of your interests, it is imperative you keep safe and guard the Wallet Access Information issued to you. You acknowledge and accept that you are solely responsible for the security of your Wallet and for any use of your Account. Bancor and/or Bancor Parties will not be liable or accountable, nor shall be deemed to have any liability or accountability, for any loss or damage regarding your failure to keep your Account or Wallet information secret and protected.

Furthermore, Bancor has no control over your actions or transactions made using the Services. With that in mind, Bancor and/or Bancor Parties will have no liability to you or to any third party for any claims or damages that may arise as a result of any actions or transactions that you engage in while using the Service. Bancor and/or Bancor Parties shall not be liable for the acts or omissions of any third parties, nor will they be liable for any damage that you may suffer as a result of interacting with any third parties. We reserve the right to cancel or refuse to process any digital currency transaction due to requirements of any applicable laws or regulations, and without prior notice.

e. We cannot guarantee that the Services will always function without disruptions, delay or errors. A number of factors may impact the quality of your communications and use of the Services, and may result in the failure of your communications including, without limitation, your local network, firewall, your internet service provider, the public internet and your power supply. Bancor and/or Bancor Parties (as defined below) take no responsibility for any disruption, interruption or delay caused by any failure of or inadequacy in any of these items or any other items over which we have no control.

3. Fees and Payments

The use of the Site and Services is not subject to or conditioned upon any payment or fee to Bancor. You confirm that you are aware and agree to the following:

  • a. All transactions on the Ethereum blockchain are subject to a fee (Gas), which is made in ETH and transferred internally into the system. To facilitate transactions on the blockchain you must have a sufficient amount of ETH.
  • b. Tokens might include certain terms affecting conversion rates. Such terms are determined and affixed by the issuer of the Token at its own and exclusive discretion.
  • c. When using the Services, you are able to construct and determine, at your own discretion, the parameters you wish to apply to your conversion of Tokens. The actions you wish to execute will be subject to those parameters you applied.

Such terms, as may be applicable in each case individually, will be reflected and expressed in the conversion ratio and other applicable formulas, affecting the final outcome of your actions. By using the Services, you confirm and accept that you are capable to assess and determine the outcomes of your actions using the Services, and that you are exclusively responsible and liable for your actions and their results. Bancor and/or Bancor Parties are not responsible for any taxes, levies, charges and/or expenses of any kind you may incur, resulting from your use of the Services and/or in connection therewith, whether such may be incurred pursuant to any applicable laws, rules or regulations, by any third party service provider(s), or otherwise. Any and all such taxes, levies, charges and/or expenses of any kind shall be borne solely by you. You agree that you shall have no claim, suit or demand of any kind, and by agreeing to these Terms, hereby irrevocably and completely waive any such claim, suit or demand of any kind, to the extent such may exist or hereafter arise, towards us and any of our directors, managers, employees or consultants, in connection with or related to any of the foregoing.

4. RULES OF USE

You represent and warrant that you have full right and authority to use the Services and to be bound by these Terms. You agree that you will comply fully with these Terms and all applicable domestic and international laws, regulations, statutes, ordinances that govern your use of the Services. Without limiting the foregoing and in recognition of the global nature of the Internet, you agree to comply with all local and international rules regarding online conduct. You also agree to comply with all applicable laws affecting the transmission of content or the privacy of persons. When using the Site or Services, you may not, nor may you assist other parties to pursuit or engage in unlawful or abusive uses, or any types of activities which contradict the purpose of the Site or Services, hinder the Site’s operation or Services to other users, or which may be deemed to do so (“Restricted Uses”). For Clarity and reference, Restricted Uses include, but are not limited to, these types of activities as detailed herein, as we may amend from time to time in our sole discretion (thus, not to be regarded as an exhaustive list):

  • a. Unlawful Activities, such as activities which:
    (i) violate any applicable law, rule or regulation; or
    (ii) publish, distribute or disseminate any unlawful material or information;
  • b. Undermining or Abusive Activities, such as activities which:
    (i) take any action that imposes an unreasonable or disproportionately large load on our infrastructure, or detrimentally interfere with, intercept, or expropriate any system, data, or information;
    (ii) institute, assist or become involved in any type of attack (deliberate or other), including distribution of a virus, attacks upon the Services, the Bancor Protocol™ or the Bancor Network™, that prevent access to or use of any of the above, other attempts to disrupt any of the above, gain unauthorized access to any of the above, or disrupt any other person’s use or enjoyment of any of the above;
    (iii) enter or make an attempt to enter the Site and Services (including by accessing linked platforms, networks or systems) unauthorized, including by password mining and/or by using other users information;
    (iv) design or assist in designing cheats, exploits, automation software, bots, hacks, modes or any other unauthorized third-party software to modify or interfere with the Site or Services;
    (v) attempt to disable or circumvent any security or access control mechanism of the Site or Services;
    (vi) use any unauthorized third-party software that accesses, intercepts, ‘mines’, or otherwise collects information from or through the Services or the Site, or that is in transit from or to the Site;
    (vii) bypass any robot exclusion headers or other measures Bancor uses to restrict access to the Services or use any software, technology, or device to send content or messages, scrape, spider, or crawl the Service, or harvest or manipulate data;
    (viii) solicit another person’s password or other personal information under false pretenses;
    (ix) copy, modify, or create derivative works of the Services or the Site;
  • c. Activities Abusive to Other Users or Their Rights, such as activities which:
    (i) Interfere with other Users ability to exploit or access the Site or any of the Services;
    (ii) attempt to, or harass, abuse, or harm of another person or entity, including Bancor employees and service providers;
    (iii) collect, harvest or post anyone’s private information, in any media format;
    (iv) impersonate another user or otherwise misrepresent yourself;
    (v) violate the legal rights of others, including defaming, abuse, stalking or threatening users;
    (vi) defraud any other Users or any other person, including Bancor employees and service providers, including by providing false, inaccurate, misleading, or partial information.
  • d. Activities Infringing Intellectual Property, such as activities which:
    (i) reverse engineer, decompile, disassemble, decipher or otherwise attempt to derive the source code for any underlying software or other intellectual property used to provide the Services, or to obtain any information from the Services using any method unless you have received Bancor’s prior written approval;
    (ii) infringe the intellectual property rights, privacy rights, or moral rights of any third party or Bancor;
  • e. Unfair or Abusive Transacting, such as activities which:
    (i) create or enter a fictitious transaction or a transaction with fictitious elements of any kind;
    (ii) exploit, disrupt or manipulate, or attempt to exploit, disrupt or manipulate the Site or the use of the Services, in a manner designed to create transaction conditions which are not available to other Users;
    (iii) utilizes or applies technological abilities or foreknowledge not exploited or available to other Users, to perform (including off Site) transactions parallel to those performed by Users on the Site, and/or create unequal terms among Users regarding the use of Services on the Site, or influence the terms of transactions on the blockchain (including activities commonly referred to as Front-Running) and/or create an unfair or abusive advantage over other Users;

Violation of any of these Restricted Uses may be cause for the taking of legal actions on the part of Bancor according to the law, in addition to any right and remedies set forth hereunder or under any applicable law. Without derogating from the above, by accepting these Terms, you acknowledge that Bancor makes no representation or warranty regarding its ability, nor assumes any liability, to detect, limit or prevent any Restricted Use.

5. Limitation or Termination of Access and Services

WE MAY, IN OUR SOLE DISCRETION, REFUSE TO OFFER THE SERVICES TO ANY PERSON OR ENTITY. WE MAY, WITHOUT NOTICE AND IN OUR SOLE DISCRETION, TERMINATE YOUR RIGHT TO USE THE SERVICES OR ANY PORTION THEREOF, AND BLOCK OR PREVENT YOUR FUTURE ACCESS TO AND USE OF THE SERVICES OR ANY PORTION THEREOF.

WE MAY, AT ANY TIME AND FOR ANY REASON, DISCONTINUE THE SERVICES IN ITS ENTIRETY, OR ANY PART HEREOF, WITHOUT PRIOR NOTICE AND/OR LIABILITY OF ANY KIND.

Subject to your agreement and compliance with these Terms, you are hereby granted with a personal, revocable, non-transferable and non-exclusive right to use the Services. Use of the Services shall be solely for your own, private purposes and for no other purpose whatsoever. You hereby acknowledge that your right to use the Services is limited by these Terms, and, if you violate or if, at any point, you do not agree to any of these Terms, your right to use the Services shall immediately terminate, and you shall immediately refrain from using the Services. Without derogating from the generality of the foregoing, any use of the Services that violates these Terms is strictly prohibited and can, at Bancor’s sole discretion, result in the immediate revocation of your limited rights granted by these Terms. Without limiting any other remedy, Bancor may limit, suspend, revoke, terminate, modify, or delete your Account or access to the Services at its sole discretion without prior notice or liability, if you are, or if Bancor suspects (in its sole discretion) that you are failing to comply with these Terms or for any actual or suspected Restricted Use of the Site and Services.

Any of such actions, including the termination of your rights to use the Site and Services, may be applied by Bancor permanently or temporarily. In such an event, Bancor may terminate your Account and access to the Site and Services (however without affecting your Wallet, which remains exclusively yours, subject to any applicable terms of use or law). Upon termination of your Account, your Account log in credentials may not be reserved and it may not be possible to re-instate them. You hereby acknowledge and agree that Bancor is under no obligation to compensate you for any losses of any kind whatsoever resulting from the cease of Services as set forth hereinabove, whether such closure was voluntary or involuntary, and you hereby irrevocably waive any demand or claim regarding the above.

6. PRIVACY POLICY

When using the Services, you may be required to provide us with certain personal information that may include your full name, e-mail address, Wallet address etc. This information will be stored and used in accordance with our Privacy Policy, and we will not release such personal information to any third party without the User’s consent, except as not prohibited by law or as set forth in our Privacy Policy, as amended from time to time. In addition, we may use aggregate statistical information about Users’ activity on the Site for marketing or any other purpose.

7. Ownership, Copyrights

a. The Services and all of the content that appears in the Site, including without limitation, the use of the Site’s name, software, web technologies, source code, concepts, artwork, photos, animations, sounds, methods of operation, moral rights, documentation, and virtual items, is the exclusive property of Bancor, or is being used with permission from its licensors. Bancor (or its licensors as applicable) retain all rights, title and interest in and to the Services and all of the content that appears in the Site, and all intellectual property rights relating thereto, including without limitations all copyright, patent, trademarks, logos, design rights and any other proprietary rights connected with the Services. Notwithstanding any provision to the contrary herein, you agree that you have no right or title in or to the Services and/or to any content that appears in the Site. Bancor’s name and logo, and any other trademarks included in the Services and/or appear on the Site, are trademarks of Bancor.

b. All third party product names that may legitimately appear in the Site are trademarks of their respective owners. No transfer or grant of any rights under any names, marks or logos is made or is to be implied by any provision of these Terms or by anything on the Site, and all rights in such names, marks or logos is reserved to Bancor or their respective owners, as applicable.

c. You acknowledge and agree that any materials, including but not limited to questions, comments, feedback, suggestions, ideas, plans, notes, drawings, original or creative materials or other information or commentary you provide on our platform or one of our social media accounts, regarding Bancor or the Services (collectively, “Feedback”) that are provided by you, whether by email, posting to the Site or otherwise, are non-confidential and will become the sole property of Bancor. Bancor will own exclusive rights, including all intellectual property rights, and will be entitled to the unrestricted use and dissemination of such Feedback for any purpose, commercial or otherwise, without acknowledgment or compensation to you

8. THIRD PARTY CONTENT

To the extent that the services contain links or any other information to third party websites, tokens or services, Bancor does not control the availability and content of those websites, tokens and services. Any concerns regarding any such third party websites, tokens and/or service, or any link thereto, should be directed to such particular website and/or services provider. Bancor makes no representation or warranty regarding any content, goods, tokens and/or services provided by any third party, even if linked to through the site or the service. The linked sites and tokens are not under the control of Bancor and may collect data or solicit personal information from you. Bancor is not responsible for their content, business practices or privacy policies, or for the collection, use or disclosure of any information those sites may collect. you agree that the services may feature advertisements from third parties. Bancor is not responsible for the actions of third parties who advertise on the site. Your interactions with advertisers or entities that issued the tokens are agreements between you and them with Bancor having no responsibility for such interactions.

9. RISKS Statement, Representations and Warranties

Bancor provides an execution-only service and does not advise on the merits of any particular conversion of Tokens or its tax or legal consequences. As a general matter, Users should be aware of the following prior to utilizing our Services.

a. Understanding Tokens requires advanced technical knowledge. Tokens are often described in exceedingly technical language that requires a comprehensive understanding of applied cryptography and computer science in order to appreciate inherent risks. Listing of a Token on the Site does not indicate approval or disapproval of the underlying technology regarding any Token, and should not be used as a substitute for your own understanding of the risks specific to each Token. In using the Service, you represent that you have been, are, and will be solely responsible for making your own independent appraisal and investigations into the risks relating to and concerning the Tokens. You represent that you have sufficient knowledge, market sophistication, professional advice and experience to make your own evaluation of the merits and risks of any conversion or any underlying Token.

b. You accept the risk of converting Tokens. You understand the conversion of Tokens may use untested code and protocols. You accept the risk of conversion failure or fault. You agree not to hold Bancor accountable for any related losses. Neither you nor we, can reverse, change or cancel a conversion of Tokens transaction marked as complete or pending. Conversion of Tokens using the Service is managed and confirmed via the Ethereum blockchain. You understand that your Ethereum public address will be made publicly visible whenever you use the Service.

c. You are responsible for complying with applicable law. You agree that Bancor is not responsible for determining whether or which laws may apply to your conversions, including with respect to tax or money transferring regulations. You are solely responsible for reporting and paying any taxes arising from your use of the Services.

d. You are aware of and accept the risk of operational challenges. The Site and the Service may experience sophisticated cyber-attacks, unexpected surges in activity, or other operational or technical difficulties, which may hinder the use of the Service or affect or even cause faults or failures in the conversion of Tokens. You agree not to hold Bancor accountable for any related losses.

e. Bancor does not advise on converting risk. If at any point Bancor or its representatives do provide converting recommendations, market commentary, or any other information, the act of doing so is incidental to your relationship with us and imposes no obligation of truth or due diligence on behalf of Bancor or its representatives.

f. Bancor is a regulated entity and must comply with applicable law. Applicable law, regulation, and executive orders may require Bancor to, upon request by government agencies, take certain actions or provide information.

g. Operation of Token Protocol. We do not own or control the underlying software protocols, which govern the operation of the Tokens (other than the BNT) supported on our platform. You acknowledge and agree (i) that the underlying protocols may be subject to sudden changes in operating rules (‘forks’), and that such forks may materially affect the value, function, and even the name of the Tokens you store. In the event of a fork, you agree that we may suspend the Service (with or without advance notice to you) and that we may decide whether or not to support (or cease supporting) either branch of the forked protocol entirely. You acknowledge and agree that we assume absolutely no responsibility whatsoever in respect of an unsupported branch of a forked protocol; and (ii) that we are not responsible for operation of the underlying protocols and that we make no guarantee of their functionality, security, or availability.

10. Copyright, Feedback Materials

You acknowledge and agree that any materials, including but not limited to questions, comments, feedback, suggestions, ideas, plans, notes, drawings, original or creative materials or other information or commentary you provide on our platform or one of our social media accounts, regarding Bancor or the Services (collectively, “Feedback”) that are provided by you, whether by email, posting to the Site or otherwise, are non-confidential and will become the sole property of Bancor. Bancor will own exclusive rights, including all intellectual property rights, and will be entitled to the unrestricted use and dissemination of such Feedback for any purpose, commercial or otherwise, without acknowledgment or compensation to you.

11. OWNERSHIP OF TOKENS

You hereby warrant and represent that any Tokens used by you in connection with the Services are either owned by you or that you are validly authorized to carry out conversions, and to take (or refrain from taking) any other actions which you perform while using the Services, using such Tokens.

12. Identification

You agree to indemnify, defend and hold Bancor, its affiliates and service providers, and each of their respective officers, directors, agents, employees, and representatives, harmless from any claim or demand (including attorneys’ fees and costs and any fines, fees or penalties imposed by any regulatory authority) arising out of or related to (i) your breach of these Terms, (ii) your use or access of the Site and/or Services, or (iii) your violation of any law, rule, or regulation, or the rights of any third party.

13. WARRANTY DISCLAIMER

THE SERVICES ARE PROVIDED TO YOU ‘AS IS’ AND WITHOUT WARRANTIES OR REPRESENTATIONS OF ANY KIND EITHER EXPRESSED OR IMPLIED. TO THE FULLEST EXTENT PERMISSIBLE PURSUANT TO APPLICABLE LAW, EACH OF BANCOR AND/OR BANCOR PARTIES DISCLAIMS ALL WARRANTIES, EXPRESSED OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, IMPLIED WARRANTIES OF ANY KIND IN CONNECTION WITH THE TOKENS, THE SERVICE, NON-INFRINGEMENT, AND FITNESS FOR ANY PARTICULAR PURPOSE, USEFULNESS, AUTHORITY, ACCURACY, COMPLETENESS AND/OR TIMELINESS. EACH OF BANCOR AND/OR BANCOR PARTIES MAKES NO WARRANTIES OR REPRESENTATIONS ABOUT THE ACCURACY OR COMPLETENESS OF THE CONTENT OF THE SERVICES, OF THE CONTENT OF ANY SITES LINKED TO THE SERVICES, OF ANY THIRD PARTY MATERIALS. WITHOUT LIMITING THE FOREGOING, NEITHER BANCOR NOR ITS AFFILIATES OR SUBSIDIARIES, OR ANY OF ITS OR THEIR DIRECTORS, EMPLOYEES, AGENTS, ATTORNEYS, THIRD-PARTY CONTENT PROVIDERS, DISTRIBUTORS, JOINT-VENTURES, LICENSEES OR LICENSORS (COLLECTIVELY, “BANCOR PARTIES”) REPRESENT OR WARRANT THAT THE SITE AND THE SERVICE WILL BE UNINTERRUPTED, ERROR-FREE, BUG-FREE OR FREE FROM VIRUSES OR OTHER HARMFUL COMPONENTS. YOU AGREE THAT USE OF THE SITE AND THE SERVICE IS AT YOUR SOLE RISK. ADDITIONALLY, IN NO EVENT SHALL BANCOR AND/OR BANCOR PARTIES BE LIABLE FOR ANY UNAUTHORIZED ACCESS TO OR USE OF THIRD PARTY MATERIALS, SECURE SERVERS AND/OR ANY AND ALL PERSONAL INFORMATION AND/OR FINANCIAL INFORMATION STORED THEREIN. YOU ACKNOWLEDGE AND AGREE THAT, TO THE FULLEST EXTENT PERMITTED BY ANY APPLICABLE LAW, THE DISCLAIMERS CONTAINED HEREIN SHALL APPLY TO ANY AND ALL DAMAGES OR INJURIES WHATSOEVER CAUSED BY OR RELATED TO THE USE OF, OR INABILITY TO USE, THE SERVICES, UNDER ANY CAUSE OR ACTION WHATSOEVER OF ANY JURISDICTION, INCLUDING, WITHOUT LIMITATION, ACTIONS FOR BREACH OF WARRANTY, BREACH OF CONTRACT OR TORT (INCLUDING NEGLIGENCE). UNDER NO CIRCUMSTANCES WHATSOEVER WILL BANCOR AND/OR ANY OF BANCOR PARTIES, EVEN IF ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, BE RESPONSIBLE OR LIABLE TO YOU OR TO ANY OTHER ENTITY FOR ANY COMPENSATORY, INDIRECT, INCIDENTAL, CONSEQUENTIAL (INCLUDING FOR LOSS OF PROFITS, LOST BUSINESS OPPORTUNITIES, LOSS OF GOODWILL OR DATA DESTRUCTION OR IMPAIRMENT) SPECIAL, EXEMPLARY, OR PUNITIVE DAMAGES THAT RESULT FROM OR RELATE IN ANY MANNER WHATSOEVER TO YOUR USE OF OR INABILITY TO USE THE SERVICES. IF YOU ARE DISSATISFIED WITH THE SERVICES, OR WITH THESE TERMS, OR YOU HAVE ANY DISPUTE WITH BANCOR AND/OR ANY OF BANCOR PARTIES, YOUR SOLE AND EXCLUSIVE REMEDY IS TO DISCONTINUE USING THE SERVICES. YOU FURTHER SPECIFICALLY ACKNOWLEDGE THAT NEITHER BANCOR NOR ANY BANCOR PARTIES ARE LIABLE, AND YOU AGREE NOT TO SEEK TO HOLD BANCOR AND/OR BANCOR PARTIES LIABLE, FOR THE CONDUCT OF THIRD PARTIES, INCLUDING OTHER USERS OF THE SERVICES, ISSUERS OF TOKEN AND OPERATORS OF EXTERNAL SITES, AND THAT THE RISK REGARDING THE FOREGOING RESTS ENTIRELY WITH YOU.

Additionally, we shall not be deemed to be in breach of these Terms, nor shall we incur any liability or bear any responsibility due to a delay or failure in performance caused by Force Majeure. “Force Majeure” referrers to circumstances beyond our reasonable control, including but not limited to acts of God, fire, flood, war, terrorism, embargo, accident, labor disputes, or shortage of material, equipment or transport, any law, regulation, or any ruling of court, tribunal or governmental agency.

14. LIMITATION OF LIABILITY

WITHOUT DEROGATING FROM THE FOREGOING, IN NO EVENT OUR THE AGGREGATE LIABILITY OF BANCOR AND/OR ANY OF BANCOR PARTIES, ARISING OUT OF THESE TERMS, THE SERVICES AND THE SITE WILL NOT EXCEED THE GREATER OF ONE HUNDRED US DOLLARS ($100) OR THE AMOUNT YOU HAVE PAID US IN THE PAST TWELVE MONTHS FOR THE USE OF THE SERVICES. BECAUSE SOME JURISDICTIONS DO NOT ALLOW THE LIMITATION OR EXCLUSION OF LIABILITY FOR CERTAIN TYPES OF DAMAGES, SOME OF THE ABOVE LIMITATIONS MAY NOT APPLY TO YOU. IN SUCH JURISDICTIONS, BANCOR’S LIABILITY IS LIMITED AND WARRANTIES ARE EXCLUDED TO THE GREATEST EXTENT PERMITTED BY LAW.

ADDITIONALLY, YOU ACKNOWLEDGE THAT NEITHER BANCOR NOR ANY BANCOR PARTIES DOES NOT ACTS OR SERVES AS YOUR BROKER, INTERMEDIARY, AGENT, OR ADVISOR WITH RESPECT TO ANY ACTION (INCLUDING REFRAINING FROM ANY ACTION), INCLUDING WITHOUT LIMITATION, ANY CONVERSION, YOU MAKE OR PROPOSE TO MAKE USING THE SERVICES AND OWES YOU NO FIDUCIARY DUTY.

15. Dispute Resolution and Governing Law

These Terms are governed by and construed in accordance with the laws of the Swiss Confederation. You hereby consent that any claim, cause of action or dispute arising out of or relating to these Terms, the Services or the Site shall be submitted to the exclusive jurisdiction of the Cantonal Court of Zug, Switzerland, and you agree to submit to the personal jurisdiction of such courts for the purpose of litigating all such claims.

16. Miscellaneous

a. The controlling language for these terms of use is English; the meaning of terms, conditions and representations herein are subject to definitions and interpretations in the English language. Any translation is provided for your convenience and may not be deemed to represent accurately the information in the original English.

b. If any provision of these Terms is determined to be invalid or unenforceable, the provision shall be deemed to be severable from the remainder of these Terms and will not cause their invalidity or unenforceability.

c. These terms of use may be amended from time to time. It is your responsibility to check these terms of use periodically for changes. Your continued use of the Services following the posting of changes will mean that you accept and agree to the changes. If you do not agree with any such modification, you should not use the Service.

d. YOU AGREE THAT ANY CAUSE OF ACTION ARISING OUT OF OR RELATED TO THE SERVICES MUST COMMENCE WITHIN ONE (1) YEAR AFTER THE CAUSE OF ACTION ACCRUES. OTHERWISE, SUCH CAUSE OF ACTION IS PERMANENTLY BARRED.