⚠️Terms of Use
Last updated May 28, 2024
These Terms of Uses (the "Agreement") explain the terms and conditions by which you may access and use the Products provided by the Lnfi development team (referred to herein as "Lnfi", "we", "our", or "us").
The Products shall include, but are not necessarily limited to, (a) https://mainnet.lnfi.network/ and https://app.ln.exchange/, which are website-hosted user interfaces (the 'Interface' or 'App,' or jointly the 'Interfaces' or 'Apps'), (b) LN Starter, (the "LN Starter"), (c) LN Node, (the “LN Node”), (d) LN Bridge (the "LN Bridge") and (e) any other products and services that link to this Agreement (together with the Interfaces, Apps, LN Starter, LN Node, and LN Bridge, the “Products”).
You must read this Agreement carefully as it governs your use of the Products. By accessing or using any of the Products, you signify that you have read, understand, and agree to be bound by this Agreement in its entirety. If you do not agree, you are not authorized to access or use any of our Products and should not use our Products.
To access or use any of our Products, you must be able to form a legally binding contract with us. Accordingly, you represent that you are at least the age of majority in your jurisdiction (e.g., 18 years old in the United States) and have the full right, power, and authority to enter into and comply with the terms and conditions of this Agreement on behalf of yourself and any company or legal entity for which you may access or use the Interfaces. If you are entering into this Agreement on behalf of an entity, you represent to us that you have the legal authority to bind such entity.
You further represent that you are not (a) the subject of economic or trade sanctions administered or enforced by any governmental authority or otherwise designated on any list of prohibited or restricted parties (including but not limited to the list maintained by the Office of Foreign Assets Control of the U.S. Department of the Treasury) or (b) a citizen, resident, or organized in a jurisdiction or territory that is the subject of comprehensive country-wide, territory-wide, or regional economic sanctions by the United States. Finally, you represent that your access and use of any of our Products will fully comply with all applicable laws and regulations, and that you will not access or use any of our Products to conduct, promote, or otherwise facilitate any illegal activity.
NOTICE: This Agreement contains important information, including a binding arbitration provision and a class action waiver, both of which impact your rights as to how disputes are resolved. Our Products are only available to you — and you should only access any of our Products — if you agree completely with these terms.
1. OUR PRODUCTS
1.1 THE INTERFACES
Our interfaces consist of https://mainnet.lnfi.network/ and https://app.ln.exchange/. The former is a frontend software portal to the Lnfi Network, an all-in-one financialization layer that brings web3 and tokenization to Lightning Network with Taproot Assets (the “Protocol”). It enables users to seamlessly transfer tokens to others’ Nostr public addresses over Nostr at zero gas fees. Additionally, it includes features such as an address book for bookmarking users’ Nostr addresses, staking and locking tools, as well as a diverse array of financial products like Lightning Gift and Airdrop. The latter is a highly performant, vertically integrated exchange consisting of P2P Marketplace for illiquid trading, Spot Orderbook for liquid trading and Perpetual Orderbook for leveraged trading. To access the Interfaces, you must use a Nostr key, which allows you to interact with Nostr applications. By connecting your Nostr to our Interfaces, you agree to be bound by this Agreement and all of the terms incorporated herein by reference.
All transactions conducted on the Protocol are currently managed on a custody basis, with a planned transition toward self-custody as part of our future roadmap. As the Protocol is accessible by any user, entity or third party, there may be a number of third-party web and mobile user-interfaces that allow for interaction with the Protocol. YOUR USE OF THE PRODUCTS ARE ENTIRELY AT YOUR OWN RISK.
In addition, Taproot Assets represent an emerging technology that carries potential unknown and unforeseen risks. The ever-evolving nature of this technology means that risks may exist that are not yet fully recognized or anticipated. These risks may encompass, but are not limited to Market Volatility. THE VALUE OF TAPROOT ASSETS CAN EXPERIENCE SIGNIFICANT FLUCTUATIONS, LEADING TO POTENTIAL FINANCIAL LOSSES.
1.2 ISSUE TAPROOT ASSETS
It enables users to easily issue Taproot Assets on Lnfi with minimal clicks. The issued Taproot Assets are held in Lnfi’s custody which can then be used to transfer to other users on Lnfi, launch a campaign on LN Starter or trade on LN Exchange etc.
By issuing assets on Lnfi, you acknowledge and accept the fee structure and the underlying risks.
1.3 LN STARTER
It encompasses two flagship products — Launchpad and Launchpool. Launchpad empowers projects to seamlessly conduct public token offerings, fostering permissionless fundraising opportunities. Launchpool is dedicated to facilitating transparent, fair, and secure fair-minting of project tokens. Utilizing a lottery draw mechanism, Launchpool serves as a catalyst for bootstrapping vibrant communities while ensuring integrity and equity in the token distribution process.
By launching a campaign on Lnfi, you acknowledge and accept the fee structure and the underlying risks.
1.4 LN NODE
It stands as a service manager meticulously crafted to streamline the setup and management of their own Lightning Nodes for users, irrespective of their expertise level. With LN Node, users can effortlessly navigate the complexities of self-custodying their assets, managing channel liquidity, and providing liquidity on the Lightning Network to capture yield. Moreover, it enables users to selectively opt for asset custody with Lnfi solely for trading purposes. Users would require their Nostr key to access their LN Node, and Lnfi has no access to the user's LN Node. It is the user's responsibility to manage their Nostr key.
By setting a LN Node on Lnfi, you acknowledge and accept the fee structure and the underlying risks.
1.5 LN BRIDGE
It provides bridging services for other token standards, such as ERC20 on Ethereum, to Taproot Assets. The assets may be custodied by Lnfi or held trustlessly on a blockchain. By using the LN Bridge on Lnfi, you acknowledge and accept the fee structure and the underlying risks, including but not limited to risks associated to smart contract's vulnerabilities.
1.6 ACCESS THROUGH THIRD-PARTY PROVIDERS
We may make certain Products, including access to our APIs, liquidity services, and data, accessible or usable through interfaces, products or services provided by certain third party partners, such as exchanges and trading platforms (each a “Third Party Partners”). You agree that your use of the Products through an interface, product or service provided by one of our Third Party Partners is nonetheless still subject to the terms and conditions of this Agreement.
1.7 OTHER PRODUCTS
We may from time to time in the future offer additional products, and such additional products shall be considered a Product as used herein, regardless of whether such product is specifically defined in this Agreement.
2. NO WARRANTIES
THE PRODUCTS are AVAILABLE ON AN “AS IS” BASIS WITHOUT WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, WARRANTIES OF MERCHANTABILITY, TITLE, FITNESS FOR A PARTICULAR PURPOSE AND NON-INFRINGEMENT.
You assume all risks associated with using the Products, and digital assets and decentralized systems generally, including but not limited to, that: (a) digital assets are highly volatile; (b) using digital assets is inherently risky due to both features of such assets and the potential unauthorized acts of third parties; (c) you may not have ready access to assets; and (d) you may lose some or all of your tokens or other assets. You agree that you will have no recourse against anyone else for any losses due to the use of the Products. For example, these losses may arise from or relate to: (i) incorrect information; (ii) software or network failures; (iii) corrupted cryptocurrency wallet files; (iv) unauthorized access; (v) errors, mistakes, or inaccuracies; or (vi) third-party activities. Accordingly, you understand and agree to assume full responsibility for all of the risks of accessing and using the Products and interacting with the Protocol.
3. DATA COLLECTION
The Products does not collect any personal data, and your interaction with the Protocol will solely be through your public digital wallet address. Any personal or other data that you may make available in connection with the Protocol may not be private or secure.
4. PROHIBITED ACTIVITY
You agree not to engage in, or attempt to engage in, any of the following categories of prohibited activity in relation to your access and use of the Products:
Intellectual Property Infringement. Activity that infringes on or violates any copyright, trademark, service mark, patent, right of publicity, right of privacy, or other proprietary or intellectual property rights under the law.
Cyberattack. Activity that seeks to interfere with or compromise the integrity, security, or proper functioning of any computer, server, network, personal device, or other information technology system, including (but not limited to) the deployment of viruses and denial of service attacks.
Fraud and Misrepresentation. Activity that seeks to defraud us or any other person or entity, including (but not limited to) providing any false, inaccurate, or misleading information in order to unlawfully obtain the property of another.
Market Manipulation. Activity that violates any applicable law, rule, or regulation concerning the integrity of trading markets, including (but not limited to) the manipulative tactics commonly known as spoofing and wash trading.
Any Other Unlawful Conduct. Activity that violates any applicable law, rule, or regulation.\
5. NO PROFESSIONAL ADVICE
All information provided by the Products is for informational purposes only and should not be construed as professional advice. You should not take, or refrain from taking, any action based on any information contained in the Products. Before you make any financial, legal, or other decisions involving the Products, you should seek independent professional advice from an individual who is licensed and qualified in the area for which such advice would be appropriate.
6. ADDITIONAL PROGRAMS
Lnfi may, from time to time, in its sole discretion, make certain programs, special offers, challenges, bonuses, or other promotions available to participants. The terms and conditions applicable to any such special offers will be determined by Lnfi in its sole discretion and communicated to participants in conjunction with any such programs. Because any terms and conditions associated with any special offers may be different from or in addition to provisions of these Terms of Use, you should read any such additional terms and conditions carefully before participating in any program.\
7. LIMITATIONS, RESTRICTIONS, AND OTHER TERMS
Lnfi’s determinations of participant eligibility or any questions or disputes arising from anyone’s use of the Products or any other Lnfi rules or restrictions shall be final and binding and not subject to challenge or appeal.
Without notice to you, Lnfi reserves the right to suspend or terminate your participation in any feature on the Products in its sole discretion, including if Lnfi determines or suspects that your use of the Products is unauthorized, deceptive, fraudulent, unlawful, or intentionally subverts the purposes of the Products.
To the extent that Lnfi provides access to points or other similar promotional programs, your accumulation of points has no cash value. If you have a right to claim any rewards or other items in association with a promotional program, you may be subject to additional terms or conditions applicable to such claims process.
You are responsible for paying all transaction fees associated with claiming any onchain asset including any token made available on the Protocol. “Transaction Fees” means the fees required to be paid to execute a transaction on the Protocol, sometimes known as “gas fees.”
Transactions processed by the blockchain are irreversible. You acknowledge that any transaction you initiate by connecting your wallet to the Protocol using the Products may be irrevocable.
Lnfi is not responsible for any problems or technical malfunction of any telephone, Internet or blockchain network or lines, online systems, servers, providers, computer equipment, software, or messaging platform, or as a result of technical problems or traffic congestion on the Internet, any website, or any application, or any combination thereof, including, without limitation, any resulting error in computing qualifying actions or any unavailability of Products features, or any injury or damage to any participant’s or any other person’s computer or mobile device related to or resulting from participation in features available through the Products. If, for any reason, the Products is not capable of running as planned, including due to errors of any kind or nature, infection by computer viruses, bugs, tampering, unauthorized intervention, fraud, technical failures, or any other causes beyond the control of Lnfi which corrupt or affect the administration, security, fairness, integrity, or proper conduct of the Products features, Lnfi reserves the right in its sole discretion to cancel, terminate, modify, or suspend the Products features or otherwise respond to the circumstances as Lnfi deems appropriate.\
8. CHANGES TO ANY PROGRAM MADE AVAILABLE THROUGH THE INTERFACES
Lnfi reserves the right to change, update and/or discontinue, in whole or in part, either temporarily or permanently, any portion of the Products or any program made available through the Products and/or any policy, FAQ, guidelines, at any time in its sole discretion and without advance notice to you. Lnfi will not be liable to you in the event of any modification, suspension, or discontinuance of the Products or any features made available through the Products. Unless otherwise specified, any changes or modifications will be effective immediately upon posting the revisions to these Terms of Use, and you waive any right you may have to receive specific notice of such changes or modifications. If we change or modify these Terms of Use, we will revise the “last updated” date located at the top of these Terms of Use. If you continue to participate in the Products, including by receiving any promotional points, using points, or otherwise participating in the Products in any way after a change to these Terms of Use, you will be deemed to have read, understood, and unconditionally consented and agreed to such changes; therefore, you should review these Terms of Use and applicable policies and guidelines frequently to understand the terms and conditions that apply to your use of the Products. If you do not agree to the Terms of Use, you must stop using the Products.
9. RELEASE OF CLAIMS
You expressly agree that you assume all risks in connection with your access and use of the Products and your interaction with the Protocol. You further expressly waive and release us from any and all liability, claims, causes of action, or damages arising from or in any way relating to your use of the Products and your interaction with the Protocol.
10. INDEMNITY
You agree to hold harmless, release, defend, and indemnify us and our officers, directors, employees, contractors, agents, affiliates, and subsidiaries from and against all claims, damages, obligations, losses, liabilities, costs, and expenses arising from: (a) your access and use of the Products; (b) your violation of any term or condition of these terms of use, the right of any third party, or any other applicable law, rule, or regulation; and (c) any other party’s access and use of the Products with your assistance or using any device or account that you own or control.
11. LIMITATION OF LIABILITY
Under no circumstances shall we or any of our officers, directors, employees, contractors, agents, affiliates, or subsidiaries be liable to you for any indirect, punitive, incidental, special, consequential, or exemplary damages, including (but not limited to) damages for loss of profits, goodwill, use, data, or other intangible property, arising out of or relating to any access or use of the Products, nor will we be responsible for any damage, loss, or injury resulting from hacking, tampering, or other unauthorized access or use of the Products or the information contained within it. We assume no liability or responsibility for any: (a) errors, mistakes, or inaccuracies of content; (b) personal injury or property damage, of any nature whatsoever, resulting from any access or use of the Products; (c) unauthorized access or use of any secure server or database in our control, or the use of any information or data stored therein; (d) interruption or cessation of function related to the Products; (e) bugs, viruses, trojan horses, or the like that may be transmitted to or through the Products; (f) errors or omissions in, or loss or damage incurred as a result of the use of, any content made available through the Products; and (g) the defamatory, offensive, or illegal conduct of any third party. Under no circumstances shall we or any of our officers, directors, employees, contractors, agents, affiliates, or subsidiaries be liable to you for any claims, proceedings, liabilities, obligations, damages, losses, or costs in an amount exceeding the amount you paid to us in exchange for access to and use of the Products, or $100.00, whichever is greater. This limitation of liability applies regardless of whether the alleged liability is based on contract, tort, negligence, strict liability, or any other basis, and even if we have been advised of the possibility of such liability. Some jurisdictions do not allow the exclusion of certain warranties or the limitation or exclusion of certain liabilities and damages. Accordingly, some of the disclaimers and limitations set forth in this Agreement may not apply to you. This limitation of liability shall apply to the fullest extent permitted by law.
12. GOVERNING LAW AND FORUM CHOICE/CLASS ACTION WAIVER
These Terms of Use and any action related thereto will be governed by, and all disputes arising under, relating to, or in connection with these Terms shall be resolved in accordance with, the laws of Singapore, without regard to the conflicts of law provisions of such jurisdiction.
All disputes arising out of or in connection with the Products or otherwise in connection with this Agreement shall be finally settled under the Rules of Arbitration of the International Chamber of Commerce by one arbitrator appointed in accordance with the said Rules. The rules are available at the iccwbo.org website (https://iccwbo.org/dispute-resolution-services/arbitration/rules-of-arbitration/ or such updated link). The place of arbitration shall be Singapore. The language of the arbitration shall be English. Judgment on the award rendered by the arbitrator(s) may be entered by any court having jurisdiction thereof or having jurisdiction over the relevant party or its assets.
Any claim or dispute arising under these Terms will take place on an individual basis without resort to any form of class or representative action (the “Class Action Waiver”). THE CLASS ACTION WAIVER PRECLUDES YOU FROM PARTICIPATING IN OR BEING REPRESENTED IN ANY CLASS ARBITRATION, CLASS ACTION OR ANY OTHER TYPE OF REPRESENTATIVE PROCEEDING WITH RESPECT TO THE SERVICES OR THIS AGREEMENT. YOU AGREE TO NO CLASS ARBITRATION OR ARBITRATION IN WHICH AN INDIVIDUAL ATTEMPTS TO RESOLVE ANY DISPUTE AS A REPRESENTATIVE OF ANOTHER INDIVIDUAL OR GROUP OF INDIVIDUALS. FURTHER, ANY DISPUTE CANNOT BE BROUGHT AS A CLASS OR OTHER TYPE OF REPRESENTATIVE ACTION, WHETHER WITHIN OR OUTSIDE OF ARBITRATION, OR ON BEHALF OF ANY OTHER INDIVIDUAL OR GROUP OF INDIVIDUALS. Regardless of anything else in these Terms to the contrary, the validity and effect of the Class Action Waiver may be determined only by an arbitrator or arbitrators, not by a court or referee. You hereby waive any objection based on forum non conveniens, and you waive personal service of any and all processes.
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