Last updated: May 24, 2021
This Legal Notice and Risk Disclosure Statement (the “Notice”) is provided by Oiler DeFi (collectively with its affiliates, “we”, “our”, “us” or “Oiler DeFi”). Any statements and representations made by Oiler DeFi or on its behalf, and any use of the OIL token or Oiler Platform, as defined below, shall be subject to this Notice. Please read this Notice carefully before using or interacting with the Oiler Platform, Oiler Protocol, or OIL token.
Oiler Platform (the “Oiler Platform”) is a web-based user interface to the Oiler Protocol – a decentralised autonomous smart-contract system implemented on the Ethereum blockchain, and other blockchain networks on which Oiler Protocol can be implemented from time to time (the “Oiler Protocol”). Oiler Platform can be accessed through the respective subdomains of our Website, as defined below, such as, for example, https://app.oiler.network and https://staking.oiler.network.
Information and Communications
Our website available at https://oiler.network (the “Website”), Oiler Platform, and any other information communicated by Oiler DeFi, whether through our communication channels or otherwise (collectively, the “Materials”), do not constitute an offer to sell, a recommendation or solicitation to buy, sell or hold Oiler tokens or any other assets. Nothing in the Materials constitutes a recommendation or solicitation to use Oiler Platform, Oiler Protocol, or any related products or services. Always make sure to verify that the information that you believe is provided by Oiler DeFi is posted or communicated by our authorised representatives.
Any and all Materials are provided for informational and educational purposes only, and should not be relied upon, either wholly or partially, when making any decision. We do not warrant, guarantee or represent, whether expressly or impliedly, that the Materials are true, complete, timely, reliable, accurate, sufficient, non-infringing or fit for a particular purpose, and we will be under no obligation to update or fix such Materials. We shall not be responsible for the accuracy or completeness of the Materials; therefore any use of such Information is at your own discretion and risk, and you are solely responsible for any possible damages or losses arising from such use. You should always conduct your own independent research and investigation.
Materials may also contain references to third-party data and industry publications. Although we believe that such data is accurate and reasonable, there are no assurances as to the accuracy or completeness of this data. We have not independently verified any of the data from third-party sources referred to on the Website or Oiler Platform, or ascertained the underlying assumptions relied upon by such sources. Any reference to such third-party data and industry publications does not imply our endorsement thereof.
Oiler Token (OIL)
We do not make any warranties or representations of any kind with regard to the Oiler token (the "OIL"), and we expressly disclaim all warranties and representations relating to OIL, whether express or implied, including, without limitation, any implied warranties of merchantability, fitness for a particular purpose, title, and non-infringement.
OIL is provided on an «as is» and «as available» basis. There is no guarantee that OIL will perform as expected or hold any particular value or price. OIL may lose some or all of its value. We do not make any promises with respect to OIL, its price, value, supply amount, performance, etc. We cannot and do not influence the price of OIL or its performance, and assume no liability to any person for the OIL token, its performance, value or loss in value, the use or inability to use OIL.
OIL token is not an investment, security, share or equity interest, debt or loan nor a derivative instrument of any of the foregoing. Neither the Materials nor anything communicated or provided by Oiler DeFi constitutes a prospectus or offering document, or is an offer to sell or solicitation of an offer to buy OIL tokens or any other asset.
OIL token does not provide any person with the rights of any type with respect to Oiler DeFi or its affiliates, their revenues or assets, including, but not limited to, any voting, distribution, redemption, liquidation, proprietary or other financial or legal rights, nor is OIL token intended to provide any person with any other rights of any type. OIL is not a loan and does not provide any right of ownership or other interest.Unless expressly allowed by Oiler Defi at its discretion, OIL token cannot be received, used, or held by, transferred or sold to, a person which is (i) the subject of economic or financial sanctions or trade embargoes administered or enforced by any country or government, including, but not limited to, those administered by the United Nations Security Council, the European Union or Her Majesty’s Treasury of the United Kingdom or any other applicable jurisdictions, (ii) located, organised or resident in any country or territory that is the subject of country-wide or territory-wide sanctions, (iii) listed in any sanctions-related list of sanctioned persons, including, but not limited to, those maintained by the United Nations Security Council, the European Union or Her Majesty’s Treasury of the United Kingdom, (iv) located, organised or resident in British Virgin Islands, Cayman Islands, United Kingdom of Great Britain and Northern Ireland, United States of America and U.S. overseas territories, People's Republic of China (Mainland), Republic of India, Republic of Turkey, Republic of Indonesia, Federal Democratic Republic of Nepal, People's Democratic Republic of Algeria, Kingdom of Morocco, Republic of Cuba, Democratic People's Republic of Korea, Republic of the Sudan, Islamic Republic of Iran, Syrian Arab Republic, Crimea Region of Ukraine, or (v) directly or indirectly owned or controlled by any person or persons described above.
The Oiler Token Liquidity Bootstrapping Event (the “LBP”) is a healthy token price discovery mechanism employed by Oiler. The LBP is not a token sale nor a token offering, and Oiler does not receive any proceeds from the LBP. Assets contributed to the LBP cannot be redeemed or withdrawn by Oiler. Upon completion of the LBP, the assets are technically routed to the Uniswap OIL-USDC pool, and will remain in the Uniswap pool indefinitely.
Oiler Platform and Oiler Protocol are in their beta stage, which means that the Oiler Platform, Oiler Protocol, and all related software are experimental. Oiler Platform and Oiler Protocol are provided on an “as is” and “as available” basis, without warranty of any kind, either expressed or implied, including, without limitation, warranties that the Oiler Platform or and Oiler Protocol are free of defects, vulnerabilities, merchantable, fit for a particular purpose or non-infringing. Any use of the Oiler Platform and Oiler Protocol shall be at your own risk. In no event shall Oiler DeFi be held liable in connection with or for any claims, losses, damages or other liabilities, whether in contract, tort or otherwise, arising out of or in connection with the Oiler Platform, Oiler Protocol, their operation or use.
The Website, Oiler Platform, and Materials contain forward-looking statements based on current expectations that involve a number of risks and uncertainties. All opinions, forecasts, projections, future plans or other statements other than statements of historical fact, are forward-looking statements. Any development plans and projections, business projections, future functionality and projected performance of the Oiler Platform or Oiler DeFi, as well as prospects and the future prospects of any industry, are forward-looking statements.
Forward-looking statements by their nature address matters that are, to different degrees, uncertain or unknown. We can give no assurance that any forward-looking statements will prove to have been correct. Actual events, results or outcomes could differ materially from what is stated in the forward-looking statement, and you should not rely on any such forward-looking statement. These risks and uncertainties include the impact of economic, competitive, technical and other factors affecting Oiler Platform, Oiler DeFi or its operations, including, but not limited to, the following: development of science and technology, development of the industry in which Oiler DeFi is in, competition, regulatory uncertainty and government actions, the introduction of new regulations and laws, market changes, the performance of Oiler Platform or related products, other business and market conditions.
No part of the Website, Oiler Platform, or Materials should be considered to be business, legal, financial, investment, or tax advice, or advice of a broker regarding any matters to which all or any part of such information relates. You should consult your own legal, financial, tax, or other professional advisors regarding any such information.
You must read the Risks Disclosure Statement below, and by accessing or using the Oiler Platform you accept all of the listed risks and agree that we shall not be in any way liable for any losses or damages incurred due to or in connection with such risks.
Limitation of liability
To the maximum extent permitted by applicable laws and regulations, in no event shall Oiler DeFi, its employees, directors, shareholders, officers, consultants, representatives, agents or contractors be liable or responsible for any direct, indirect, special, punitive, exemplary, incidental, or consequential damages or losses of any kind, nor shall they be liable for the loss of goodwill, loss of profits (including expected), loss of data, diminution of value, and business interruption arising out of or in connection with the Materials or reliance thereon, any inaccuracy or omission in any Materials, whether based upon breach of warranty or contract, negligence, strict liability, tort, or any other legal theory, regardless of whether we have been advised of the possibility of such damages or losses.
Although we make reasonable efforts to ensure that the Oiler Platform, Oiler Protocol, and related software follow the high-security standards, we do not warrant or represent that the Oiler Platform and Oiler Protocol are secure or safe, or protected from fishing, malware or other malicious attacks. Further, Oiler Platform, Oiler Protocol, and related software may contain weaknesses, bugs, vulnerabilities, viruses or other defects which may have a material adverse effect on the operation of the Oiler Platform, Oiler Protocol, or may lead to losses and damages for you, other users of Oiler Platform, Oiler Protocol or third persons.
Oiler Protocol is or will be deployed on the Ethereum blockchain main network, and later may be deployed on other blockchains. As a result, any malfunction, breakdown or abandonment of such blockchain(s) may have a material adverse effect on the Oiler Platform or Oiler Protocol. Moreover, advances in cryptography, or technical advances such as the development of quantum computing, could present risks to the Oiler Platform, Oiler Protocol, and related blockchain software by rendering ineffective the cryptographic consensus mechanism that underpins the blockchain. The smart-contract concept, the underlying software application and software platform (i.e., Ethereum or other blockchain) are still in an early development stage and unproven. Although it is very unlikely, the blockchain, as well as any other blockchain, can be attacked which may result in downtime, consensus split, long reorganization of the chain, 51 percent attack, or other adverse outcomes each of which may lead to complete loss of your digital assets.
The underlying logic of the Oiler Platform, Oiler Protocol, and related software may be flawed, defective or impaired, which can result in smart-contracts operating incorrectly or not as expected, or transactions being executed in violation of logic which underpins the smart-contracts, which can lead to partial or complete loss of digital assets used in the transaction.
Risk of Confusing User Interface
Certain user interface elements or design decisions can be confusing or mislead you, which may result in the execution of a different action or transaction than intended or desired, or connection of a wrong wallet, account or network.
Intended activities of Oiler DeFi are subject to various laws and regulations in the countries where it operates or intends to operate. We might be obliged to obtain different licenses or other permissive documents in some or all jurisdictions where we intend to operate our business, therefore, our business in such jurisdictions shall always be subject to obtaining such licenses or permissive documents, if so directed by applicable laws. There is a risk that certain activities may be deemed in violation of any such law or regulation. Penalties for any such potential violation would be unknown. Additionally, changes in applicable laws or regulations or evolving interpretations of existing law could, in certain circumstances, result in increased compliance costs or capital expenditures, which could affect our ability to carry on the business model and develop the Oiler Platform and/or Oiler Protocol.
We make a commercially reasonable effort to ensure that any transactions carried out via or on the Oiler Platform and Oiler Protocol are secure. Notwithstanding the aforesaid, there is no assurance that there will be no theft of the digital assets as a result of hacks, sophisticated cyber-attacks, distributed denials of service or errors, double-spent attacks, flash-loan attacks, vulnerabilities or defects of the Oiler Platform, Oiler Protocol, or related software, of the Ethereum or any other blockchain, or otherwise. Such events may include, for example, flaws in programming or source code leading to exploitation or abuse thereof. Any of the above may lead to partial or complete theft or loss of digital assets used in transactions carried out on the Oiler Platform or Oiler Protocol.