Terms and Conditions
Last updated: May 3, 2021
These Terms of Service (“Terms”) govern your access to and use of the Oiler website available at https://www.oiler.network (the “Website”), and Oiler Platform accessible through the respective subdomains of the Website, such as https://app.oiler.network, https://lbp.oiler.network and https://staking.oiler.network, not limited to the above (the “Oiler Platform”, and collectively with the Website, the “Platform”). The Platform is provided by Oiler DeFi, a Cayman Islands company, having address at c/o International Corporation Services Ltd., PO Box 472, Harbour Place 2nd Floor, 103 South Church Street, Grand Cayman KY1-1106, Cayman Islands (“we”, “us”, “our” or “Oiler”).
By accessing or using the Platform, connecting your Digital Wallet to the Oiler Platform, or by clicking the button “I accept” or respective check box in connection with or relating to these Terms, you (“you”, “your”) acknowledge that you have read, accept without modifications and agree to be bound by these Terms and all terms incorporated herein by reference, which form a legally binding agreement between you and Oiler. If you do not accept or agree to these Terms, you are not allowed to access or use the Platform, and must immediately discontinue any use thereof.
If you are acting for or on behalf of an entity, you hereby represent and warrant that you are authorised to accept these Terms and enter into a binding agreement with Oiler on such entity’s behalf, and you accept these Terms on behalf of such entity and on your own behalf, respectively.
Please read these Terms carefully as they affect your obligations and legal rights. Note that Sections 24 and 25 contain provisions governing the choice of law, arbitration terms, and class action waiver. Please read and review Sections 17, 18 and 19 carefully before accepting these Terms as they provide for the limitation of liability, your obligations to indemnify Oiler Parties, and contain disclaimer of warranties with regard to the Platform and related software.
1. DEFINITIONS
In these Terms, unless the context requires otherwise, the terms shall have the following meaning:
Affiliate” means a person controlling, controlled by, or under the same control with Oiler.
Communications” means any letters, notices, messages, demands, requests or other communications which may be required, permitted or contemplated hereunder.
Digital Wallet” means a pair of public and private cryptographic keys which can be used to track ownership of, receive or spend Digital Assets.
Dispute” means any dispute, controversy, claim, suit, action, cause of action, demand and/or proceeding.
LCIA” means the London Court of International Arbitration.
License” has the meaning provided in Section 12 of these Terms.
Oiler Parties” means Oiler, Affiliates, their respective shareholders, directors, officers, employees, agents, advisors, contractors, and assignees.
Oiler Platform” has the meaning provided in the preamble of these Terms.
Oiler”, “we”, “us”, “our” has the meaning provided in the preamble of these Terms.
Open-Source Licenses” means open source licenses that generally allow the software, other components and items to be freely used, modified and shared, and licenses that comply with the open source definition.
Platform” means the Website and Oiler Platform, including the software, design and other components that it comprises, and applications related thereto.
Protocol” has the meaning provided in Section 3 hereof.
Terms” means these Terms of Service.
Third-Party Content” means any content, information, materials and items provided by third parties or produced from third-party sources, including (i) the description of, links to or elements of the Third-Party Services, (ii) promotional materials and advertisements, other third-party materials and data, (iii) third-party websites and resources, and links thereto, and (iv) any information produced or derived from third-party sources, including information about the value and price of Digital Assets, exchange rates between Digital Assets, information about circulating supply, total value locked and other similar data pertaining to any Digital Assets, not limited to the above.
Third-Party Costs” means any costs, fees or expenses that are charged by third parties, including, for example, the Ethereum or other blockchains gas costs, fees related to or charged by Third-Party Services etc.
Third-Party Services” means any third-party software, services, items, and solutions, including software wallets, blockchain liquidity pools (such as, for illustration purposes only, Uniswap liquidity pools), as well as third-party mining and yield farming pools and initiatives.
User Generated Content” means any information, materials, or content posted, created, or furnished by the users of the Platform or any person other than Oiler, including through the Platform.
Digital Assets” means cryptocurrencies and other cryptographic tokens, such as, for example, USD Coin (USDC), Bitcoin (BTC), Ether (ETH), Wrapped BTC (WBTC) etc.
Website” has the meaning provided in the preamble of these Terms.
you”, “your” means the person who accepts these Terms; if you are acting on behalf of an entity, “your” and “you” shall refer to both you as an individual using the Website and/or Platform, and the entity on whose behalf you are acting.
2. MODIFICATION
We may modify, supplement or update these Terms from time to time at our sole discretion. If we make changes to these Terms, we will notify you of such changes by updating these Terms and the “Last Updated” date at the top of this document. We may further (but will not be obligated to) provide an additional notification of the amendment via one of the communication channels specified in Section 26 of these Terms. Unless otherwise notified by Oiler, updated Terms shall be effective immediately, and your continued use of the Platform will confirm the acceptance of such updated Terms. If you do not agree to any amended Terms, you must immediately discontinue any access to or use of the Platform.
3. OILER PLATFORM
Oiler Platform is a web-based user interface to a decentralised autonomous smart-contract system implemented on the Ethereum blockchain that allows for creating/writing and transferring particular on-chain derivatives, staking specific Digital Assets, i.e. locking them in the smart-contracts for certain period of time, making other on-chain actions (the “Protocol”). It is acknowledged that the Protocol may be further implemented on other blockchain networks, accordingly, “Protocol”, as used herein, includes all and any such implementations and modifications thereto. For more details concerning the Protocol, please refer to the information and materials available on the Website, including the documents section accessible at https://docs.oiler.network/, which information and materials are provided for the information purposes only and do not form a part of these Terms.
The Protocol is comprised of open-sourced smart-contracts deployed on the blockchain that can be reviewed, verified, used and accessed by anyone. You should carefully and thoroughly review and assess the Protocol before you use it, whether through the Oiler Platform or by interacting with it directly, and any such use shall be at your own risk. You hereby acknowledge that we neither own nor control any of the underlying software through which blockchain networks are formed. Accordingly, in no event shall Oiler be held liable or responsible with respect to the Protocol, underlying blockchain networks and software, including for their operation or use, and you hereby assume and accept all related risks, including the risk of possible losses or damages that you may incur in connection with the use thereof. It is acknowledged that the Protocol may be subsequently deployed on blockchain networks other than Ethereum blockchain.
4. CONNECTING DIGITAL WALLET
When using the Platform, you may connect your Digital Wallet using one of the compatible third-party software wallets, such as, for illustration purposes only, MetaMask, TrustWallet, WalletConnect or similar software. Software wallets constitute Third-Party Services and Oiler is not responsible for, does not endorse, shall not be held liable or responsible in connection with, and does not make any warranties, whether express or implied, as to the software digital wallets used by you with the Platform. When using third-party software wallets, you should review applicable terms and policies that govern your use of such software wallets.
Oiler never receives access to or control over your Digital Wallets or Digital Assets held in such Digital Wallets. Therefore, you are solely responsible for securing your Digital Wallet and credentials thereto. You may disconnect your Digital Wallet from the Platform at any time.
5. ELIGIBILITY
To be eligible to access and use the Platform, you must:
(i) be able to form a legally binding agreement with Oiler on terms herein set forth;
(ii) be at least 18 (eighteen) years of age if you are an individual, or of such higher age required to enter into a binding agreement with Oiler on the terms set out herein according to the laws of the jurisdiction where you reside;
(iii) use the Platform for your business purposes only, and not as a consumer, and you hereby further agree and acknowledge that the Platform is available for your commercial use only. You are not allowed to enter into these Terms and use the Platform in your capacity as a consumer.
6. IMPORTANT DISCLAIMERS
You hereby acknowledge and agree that Oiler does not provide any custodial or similar services, custodial solutions or software, does not act as your agent or representative, and does not control, manage or custody any of your Digital Assets.
Oiler shall not be responsible for or held liable in connection with any operations carried out by you, any other user or group of users through or with the use of the Protocol and/or the Platform, including any transfer, delivery, use, or storing of Digital Assets. Oiler shall not be acting as an intermediary in any transaction nor shall it be responsible for ensuring that any transaction made through the Platform or otherwise on the blockchain is actually completed or performed. Oiler does not control or influence transactions with Digital Assets, and therefore is unable to cancel, reverse, block, or freeze any transactions conducted by you or any other user of the Platform.
Oiler is not your broker, fund manager, or any intermediary to any broker or fund manager. Neither the Platform nor the Protocol or anything in these Terms shall be considered as broker and/or fund management services, or any intermediation services thereto.
Neither the Platform nor Oiler provides financial advisory, legal, regulatory, or tax services directly, indirectly, implicitly, or in any other manner, and you should not consider any information contained in these Terms or on the Platform, or content and materials otherwise provided by Oiler to be a substitute for professional financial, legal, regulatory, tax, or other advice.
The Platform, including any information and materials available thereon, is not intended to constitute an offer of securities or Digital Assets, or a solicitation for investment in or purchase of securities or Digital Assets in any jurisdiction, nor is it intended to constitute a prospectus or offer document of any type. We do not provide any opinion or any advice to purchase, sell, or otherwise transact with Digital Assets, and nothing communicated by Oiler shall form the basis of, or be relied upon in connection with, any contract or investment decision. Please consult your own legal or financial advisor before making any decision.
7. WARRANTIES AND REPRESENTATIONS
You represent and warrant to Oiler that:
(i) you have sufficient understanding of the functionality, usage, storage, transmission mechanisms and intricacies associated with Digital Assets, Digital Assets storage facilities, including Digital Wallets, software wallets, distributed ledger technology, blockchain-based software, liquidity pools, and decentralised finance (DeFi) in general;
(ii) you access and use the Platform only for commercial (business) purposes, and you do not access or use the Platform as a consumer;
(iii) any Digital Wallet used by you with or within the Platform is either owned by you, or that you are validly authorised to carry out transactions using such Digital Wallet;
(iv) any funds or Digital Assets used by you to carry out transactions through the Platform are from legitimate sources and were lawfully acquired;
(v) you are not subject to any sanctions administered or enforced by any country, government or international authority, are not designated on any list of prohibited or restricted persons nor are you resident or established (in the case of a corporate entity) in a country or territory that is subject to a country-wide or territory-wide sanction imposed by any country or government or international authority;
(vi) you acknowledge that Oiler is not responsible for any transactions with Digital Assets carried out via the Platform, and for their consequences and outcomes;
(vii) you understand and agree that Oiler does not act as your agent or fiduciary, and that Oiler does not control or custody your Digital Assets or funds in any manner;
(viii) if you are acting for or on behalf of an entity, such entity is duly incorporated, registered, validly existing and in good standing under the applicable laws of the jurisdiction in which the entity is established, and in each jurisdiction where it conducts business;
(ix) accessing and/or using the Platform is not unlawful or prohibited under the laws of your jurisdiction or under the laws of any other jurisdiction to which you may be subject, and your access to and use of the Platform shall be in full compliance with applicable laws;
(x) you will comply with any applicable tax obligations in your jurisdiction arising from your acquisition, storage, sale, or transfer of Digital Assets, and any transactions carried out through the Platform;
(xi) you understand that purchasing, selling, and holding Digital Assets carries substantial risk as the prices may change rapidly, and that you should obtain appropriate professional advice before making any decision;
(xii) you shall not make any decisions based solely on the information available on or through the Platform, or data and materials otherwise made available by Oiler, and shall conduct your own substantial research and analysis before making any decision;
(xiii) your use of information or materials made available on or through the Platform, or otherwise communicated by Oiler, shall be at your own risk, and that nothing contained on the Platform shall be deemed a guarantee or promise that such information is true or correct, that you will receive any profit or benefit, or that any transaction carried out via the Platform will be beneficial or suitable for you;
(xiv) all of the above representations and warranties are true, complete, accurate, and non-misleading from the time when you accept these Terms, and for the whole period of your use of the Platform.
8. PROHIBITED USE
You agree that you shall not conduct or participate in any of the following activities when accessing or using the Platform, or in connection with such access or use:
(i) disrupting, interfering with, or inhibiting other users from using the Platform, or carrying out activities that could disable, impair, or harm the functioning of the Platform;
(ii) posting, uploading, or submitting any content that is illegal, infringing, harmful, offensive, or inappropriate (the final decision on whether the content is appropriate shall be taken by Oiler at its sole discretion);
(iii) using the Platform for any illegal purposes, including, but not limited to, terrorism financing or money laundering;
(iv) circumventing or attempting to circumvent any access or functionality restrictions or limitations with respect to the Platform, using malware, harmful code or software, undertake hacker attack or similar activities;
(v) carrying out activities aimed at manipulating the market or Digital Assets prices, spoofing, or wash trading;
(vi) violating any rights of any third person, including trademark or intellectual property rights;
(vii) carrying out fraudulent activities, providing any false, inaccurate, or misleading information in order to unlawfully obtain Digital Assets or property of other users or third persons;
(viii) copying, reproducing, or cloning the Platform, or duplicating its essential elements, or creating derivative works based on the Platform or its elements without our prior written consent, subject to the terms of respective Open-Source Licenses if and to the extent applicable;
(ix) carrying out any other unlawful activities, or activities that violate any applicable regulations, rules, orders etc.
9.0 THIRD-PARTY CONTENT AND THIRD-PARTY SERVICES
When using the Platform, you may view, use or interact with certain Third-Party Content and Third-Party Services. Oiler does not endorse or make any warranties, whether express or implied, with regard to the Third-Party Content and Third-Party Services, and shall not be responsible for or held liable in connection with any Third-Party Content and Third-Party Services, your use thereof or interaction therewith.
You hereby affirm and acknowledge that your use of Third-Party Content and Third-Party Services, and your interactions with third parties that are linked to or from the Platform, shall always be at your own risk. To the maximum extent permitted by the applicable law, in no event shall Oiler be responsible for or held liable in connection with any loss or damage of any sort incurred by you as the result of, or in connection with accessing or using any Third-Party Content or Third-Party Services.
10. USER GENERATED CONTENT
You may be allowed to post, create, or furnish User Generated Content through the Platform. If you post, create, or provide any User Generated Content, you must ensure that such content at all times is true, accurate, complete, and up to date, and that such content does not violate the law or any rights of third parties.
By creating or providing any User Generated Content you warrant that you own all intellectual property rights in and to such content or otherwise have the right to use the content in such a manner, and that such content does not violate any rights of third parties or laws. You shall be solely liable and responsible for your User Generated Content.
We do not immediately review all User Generated Content nor do we have such an opportunity. We do not undertake any obligations in respect to the User Generated Content, e.g., obligation to review or post such content, or obligations of confidentiality. At all times, we retain the right to remove any User Generated Content without any prior notice or liability in case we, at our sole discretion, determine that such content is offensive, unacceptable, may harm us or violate these Terms, any laws or public order.
By creating or furnishing User Generated Content on or through the Platform, you grant Oiler a non-exclusive, irrevocable, royalty free, perpetual, fully paid up, worldwide license (right) to use, copy, edit, reproduce, translate, publicly display and perform, distribute, create derivative works based on your User Generated Content, and the right to assign these rights to third parties in whole or in part.
Oiler may use, reproduce, disclose, make publicly available and otherwise exploit any of your comments, suggestions, recommendations or other feedback provided in connection with or relating to the Platform, our other products and services (regardless of whether such feedback was provided through the Platform or otherwise on the Internet), throughout the world at its sole discretion, without restrictions or any obligations to you.
11. UPDATES AND AVAILABILITY
Oiler may from time to time and without prior notice make certain updates, improvements, or modifications to the Platform, including, but not limited to, updates to the underlying software, infrastructure, security protocols, technical configurations, functionality, financial structure, or service features, and Oiler shall not be in any case held liable with respect to any such updates.
You hereby affirm and acknowledge that occasionally the Platform may be unavailable or its operation may be interrupted. You hereby accept and assume such risks in full and further acknowledge that Oiler shall not be liable in this regard.
12. LICENSE
Subject to your compliance with these Terms, Oiler hereby grants you a limited, temporary, non-transferable, non-exclusive, revocable, non-sublicensable license (right) to access and use the Platform for its intended purposes on the terms set forth herein (the “License”). The License will remain effective until terminated on the terms contained herein.
To the extent that certain items or components of the Platform are being distributed under an Open-Source License, such items and components will not be covered by the License granted hereunder and will be provided to you under the terms and conditions of the applicable Open-Source License.
The License granted hereunder shall terminate and cease upon the occurrence of any of the following events: (i) these Terms terminate or expire; (ii) you violate these Terms; (iii) Oiler chooses to terminate the License at its sole and absolute discretion, with or without reason.
Your access and use of the Platform shall not violate the terms of the License and/or Open-Source Licenses, if and as applicable.
13. PROPRIETARY RIGHTS
The “Oiler” and “Oiler DeFi” names, related logos and trademarks, our URLs, domain names, design elements of the Platform, other names of our services and products belong to Oiler, Affiliates and/or applicable licensors. Subject to the terms of the License granted hereunder, neither your use of the Platform nor anything contained in these Terms or materials made available on the Website gives you any rights, title or interest in or to the Platform, content available thereon, or our intellectual property. You may not obscure, remove or alter any marks or notices displayed in the Platform. Any rights not expressly granted to you under the License and/or applicable Open-Source Licenses are reserved by Oiler, respective Affiliates, and/or other rights holders.
Certain components used in the Platform may be distributed under Open-Source Licenses, the terms of which shall be made available to you, and you agree to abide by and comply with the terms of such Open-Source Licenses, if applicable. Subject to the foregoing sentence, the Platform, including its elements and components, may not be copied, reproduced or imitated, in whole or in part, without our prior written permission.
14. AVAILABILITY AND ACCESS
Generally, we are not going to terminate access to the Platform for any eligible person, the Platform is public and generally can be accessed without login or registration. At the same time, availability and functionality of the Platform depend on various factors.
Oiler does not warrant or guarantee that the Platform will operate and/or be available at all times without disruption or interruption, or that it will be immune from unauthorised access, bug-, virus-, or error-free.
The Platform may be inaccessible or inoperable from time to time for any reason, including, for example, equipment malfunctions, maintenance procedures or repairs, updates, force majeure circumstances, disruptions, sophisticated hacker or malware attacks, and temporary or permanent unavailability of the underlying blockchain infrastructure or Protocol, and/or unavailability of respective Third-Party Services or services of external partners. Furthermore, the Platform may be inaccessible or inoperable during the time of transitioning of Ethereum blockchain to Ethereum 2.0, and for some time thereafter. Accordingly, the access to or use of the Platform may be prevented or limited without notice.
We may, at our sole and absolute discretion, at any time and without prior notice and liability terminate or discontinue the Platform or any of its components.
15. RESTRICTION OF ACCESS
Oiler may, at its sole and absolute discretion, limit, suspend or restrict access to the Platform for persons who reside or are located in specific jurisdictions or territories, including in accordance with its internal risk management policies, due to legal regulations or legal uncertainty. You hereby agree that Oiler may install and utilise certain software, solutions and/or tools (for example, geo-blocking or IP-blocking solutions) allowing to identify users from certain jurisdictions, or those who have violated these Terms or the law, and restrict their access to and use of the Platform.
Oiler may further restrict or suspend your access to and/or use of the Platform, any Oiler products, services, and related software with immediate effect and without notification if Oiler, acting at its sole discretion, determines that (i) you have violated or are likely to violate these Terms, applicable laws or regulations, or (ii) you or your actions create possible legal exposure for Oiler.
16. NO ADVICE
No part of the information or content available on the Platform 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 advisor regarding this information. We shall not be responsible for the accuracy of the information and materials on the Platform, therefore any use of such information or materials, is at your own discretion and risk and you are solely responsible for any possible damages or losses arising from such use.
17. LIMITATION OF LIABILITY
To the maximum extent permitted under the applicable law, in no event shall:
(i) Oiler Parties be liable or responsible for any indirect, special, punitive, exemplary, incidental, or consequential damages 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 these Terms or their violation, the use or inability to use the Platform or Protocol, and/or the failure of the Platform or Protocol to perform as represented or expected, whether based upon breach of warranty or contract, negligence, strict liability, tort, or any other legal theory, regardless of whether any of Oiler Parties have been advised of the possibility of such damages;
(ii) Oiler’s or Affiliates’ officers, directors, employees, consultants and shareholders be held personally liable in connection with these Terms or their violation, or the use or inability to use the Platform or Protocol, provided that this item “(ii)” shall not limit the liability of Oiler as an entity;
(iii) Oiler Parties be liable for any damages or losses arising in connection with a hacker attack, phishing attack, malware attack, viruses, or trojan horses, whether affecting or transmitted via the Platform, the Protocol or otherwise, or any other unauthorised third-party intervention in the operation of the Platform or Protocol;
(iv) Oiler Parties be responsible or liable for or in connection with inaccuracies of content or information provided on or in connection with the Platform, or third persons’ conduct;
(v) Oiler Parties be responsible or liable for or in connection with the Protocol or any Third-Party Content;
(vi) the aggregate liability of Oiler Parties to you for all damages and losses whatsoever arising out of or in connection with these Terms, their undue performance or violation, use or inability to use the Platform and/or Protocol exceed US $10,000 (ten thousand U.S. dollars).
You shall not, and to the maximum extent permitted under the law hereby waive any right to, seek to recover the damages listed above in this Section 17 from Oiler Parties and/or respective persons specified above. Inasmuch as some jurisdictions do not allow the exclusions or limitations as set forth herein, the above exclusions and limitations shall apply to the maximum extent permitted by the applicable law.
18. INDEMNIFICATION
To the fullest extent permitted under the applicable law, you shall indemnify, defend, and hold harmless Oiler Parties from and against any and all claims, demands, actions, damages, losses, costs, and expenses (including reasonable professional and legal fees) that arise from or relate to (i) your violation of these Terms, including making untrue or false representations or warranties, (ii) your access to or use of the Platform, and (iii) exercising, enforcing, or preserving Oiler Parties’ rights, powers or remedies (or considering doing so) with respect to you in connection with these Terms.
Oiler reserves the right to exercise sole control over the defence, at your sole cost and expense, of any claim subject to an indemnity set out in this Section 18. The indemnity set out in this Section 18 is in addition to, and not in lieu of, any other remedies that may be available to Oiler Parties under the applicable law.
19. NO WARRANTY
The Platform and Protocol are provided on “as is” and “as available” basis, and your use of the Platform and Protocol will always be at your own risk. Oiler makes no warranty of any kind, express or implied, including, but not limited to, the implied warranties of title, non-infringement, integration, merchantability, and fitness for a particular purpose, and any warranties implied by any course of performance or usage of trade, with respect to the Platform and Protocol, all of which are expressly disclaimed.
Oiler does not warrant, whether expressly or impliedly, and expressly disclaims any warranty and/or representation that:
(i) the Platform or Protocol will work as expected, or that any information provided through the Platform or in connection therewith will be timely, accurate, reliable, true or correct;
(ii) the Platform or Protocol will be secure, error-free or available at any particular time or place, or will continue working, operating or functioning for any period of time;
(iii) any defects, flaws, bugs or errors in the Platform or Protocol will be corrected;
(iv) the Platform or Protocol will be supported, maintained, operated, managed, further developed, and not abandoned; or
(v) the Platform or Protocol will be free of viruses, bugs, trojan horses, malfunctions, or other harmful components, or properly protected from hacker, malware or other attacks.
20. WAIVER OF FIDUCIARY DUTIES
The Platform, these Terms or any other service or product of Oiler are not intended to create or impose any fiduciary duty on Oiler with respect to you. Notwithstanding anything to the contrary contained in these Terms or applicable provisions of law or equity, to the maximum extent permitted by the applicable law, Oiler shall owe no fiduciary duties to you, provided, however, that Oiler shall have the duty to act in accordance with these Terms and the implied contractual covenant of good faith and fair dealing to the extent required by the law.
21. ASSOCIATED COSTS
The Platform is currently free to use, but Oiler reserves the right to introduce and charge fees for the access to and use of the Platform in the future. Furthermore, when you conduct transactions through the Platform, certain Third-Party Costs may arise or be incurred by you. You shall bear any and all such Third-party Costs, whether associated with transactions that you carry out through the Platform or arising otherwise. Oiler shall not be responsible for any Third-Party Costs and shall not be in any way held liable in connection therewith.
22. TRANSACTIONS
Transactions carried out through the Platform and/or the Protocol are irreversible and final. You may not claim refunds or cancel transactions once they are processed by the blockchain. You are solely responsible for any transactions carried out through the Platform and on the blockchain, and you will carefully appraise and assess the risks involved in every such transaction before it is made.
Furthermore, you hereby acknowledge that Digital Assets are highly volatile due to multiple factors including but not limited to speculation, lack of regulation, regulatory, security risks, other factors and circumstances. The price of a Digital Asset may change dramatically and rapidly, and certain Digital Assets may lose their value entirely. Therefore, you shall not hold Oiler Parties responsible or liable in connection with the foregoing. You shall solely make all decisions with regard to your transactions, and shall be solely responsible for their consequences, including possible losses or damages.
23. RISK DISCLOSURE STATEMENT
By accepting these Terms you hereby expressly acknowledge, accept, and assume the risks set out in our risk disclosure statement available at https://docs.oiler.network/oiler-network/token/legal-notice-and-risk-disclosure-statement [insert link to the risk disclosure page. You hereby acknowledge, accept, and assume the risks set out in the risk disclosure statement and represent that Oiler Parties shall not be held liable or responsible for any damages or losses arising from or in connection with such risks.
24. APPLICABLE LAW
These Terms, as well as any and all relationship between you and Oiler relating to the Platform and any matters contemplated herein shall be governed by, construed and enforced in accordance with the laws of England and Wales, without regard to conflict of law rules or principles that would cause the application of the laws of any other jurisdiction. The United Nations Convention on Contracts for the International Sale of Goods shall not apply to these Terms.
25. DISPUTES RESOLUTION
Except for any Disputes in which either party seeks injunctive or other equitable relief for the alleged unlawful use of intellectual property, including, without limitation, copyrights, trademarks, trade names, logos, trade secrets or patents, you and Oiler hereby agree to settle and finally resolve any Dispute arising out of or in connection with the Platform, these Terms and any matters contemplated herein in binding arbitration and in accordance with this Section 25. Binding arbitration is the referral of a Dispute to a qualified person(s) who will review the Dispute and make a final and binding determination, by making an order, to resolve the Dispute.
For any Dispute that you have against Oiler or relating to the Platform, these Terms or any matters contemplated herein, you shall first contact Oiler and attempt to resolve the Dispute informally by sending a Notice to Oiler by email at [email protected]. The Notice must include your name, address and email, and such other information necessary to identify you or assess your inquiry, describe the nature and basis of the Dispute and set forth the specific relief sought. If Oiler and you cannot reach an agreement to resolve the Dispute within thirty (30) days after such Notice is received, then either party may submit the dispute to binding arbitration administered by the LCIA, in accordance with the terms set forth below.
Any Disputes arising out of or in connection with the Platform, these Terms or any matters contemplated herein, including any question regarding the existence, validity, or termination of these Terms, shall be referred to and finally resolved by the binding arbitration under the London Court of International Arbitration rules, which rules are deemed to be incorporated by reference herein. Any arbitration will occur in London, UK. You will not and hereby waive your rights to object to the arbitration prescribed herein.
Unless otherwise required by the applicable law, and to the maximum extent permitted and possible, you, Oiler, and the arbitrators shall maintain the confidentiality of any arbitration proceedings, judgments and awards, including, but not limited to, all information gathered, prepared and presented for purposes of the arbitration or related to the Disputes. Unless prohibited under the law, the arbitrator will have the authority to make appropriate rulings to safeguard confidentiality.
Any Dispute arising out of or related to these Terms is personal to you and Oiler and will be resolved solely through individual arbitration and will not be brought as a class arbitration, class action, or any other type of representative proceeding in any circumstances. There will be no class or other type or representative action, whether within or outside of arbitration where an individual attempts to resolve a Dispute as a representative of another individual or group of individuals.
To the maximum extent permitted under the law, you and Oiler hereby waive the rights to a jury trial, class action arbitration, and to have any Dispute resolved in court.
To the maximum extent permitted under the law, you and Oiler hereby agree that any claim arising out of or related to the Platform, Protocol, these Terms or any matters contemplated herein shall be filed within one (1) year after the ground for such claim arose; if the claim is not filed within this term, such claim shall be permanently barred, which means that neither you, nor Oiler will have the right to assert such claim.
26. COMMUNICATION
You agree and consent to receive electronically all Communications that Oiler provides in connection with these Terms and any matters contemplated herein. You agree that Oiler may provide Communications to you by posting them on the Platform, on our Medium blog available at https://medium.com/oiler-network, in our Telegram channel available at http://t.me/oilernetwork, and/or in our Discord channel available at: https://discord.gg/g46g3VAa. If you provide us your email address, we may (but will not be obliged to) send Communications to you by email.
It is your responsibility to regularly monitor the above communication channels for updates. All Communications given in accordance with the terms of this Section 26 above shall be deemed in writing, valid and of full legal force, and delivered to you on the day following the day when they are published or transmitted, as the case may be.
You may electronically communicate with us by sending Communications to the following email address: [email protected]. Oiler may require you to provide additional data or documents that will allow us to identify you and properly assess your inquiry.
27. FORCE MAJEURE
Oiler shall not be liable or responsible for (i) any inaccuracy, error, delay in, or omission of any information, or the transmission or delivery of information; (ii) any loss or damage arising from any event beyond Oiler’s reasonable control, including but not limited to flood, extraordinary weather conditions, earthquake, or other act of God, fire, declared and undeclared war, epidemic, pandemic, insurrection, riot, labour dispute, accident, action of government, court, regulatory or other authorities, including the issuance of cease and desist orders, communications failure, hacker attacks, malware attacks, software weaknesses, malfunctions, 51% attacks or similar attacks, power failure, equipment or software malfunction or error, or any other cause beyond Oiler’s reasonable control.
28. NO WAIVER
No failure or delay by Oiler to exercise any right or remedy provided under these Terms or by law shall constitute a waiver of that or any other right or remedy, nor shall it preclude or restrict the further exercise of that or any other right or remedy. No single or partial exercise of such right or remedy shall preclude or restrict the further exercise of that or any other right or remedy.
29. ENTIRE AGREEMENT
These Terms, together with any documents incorporated herein by reference, contain the entire agreement between you and Oiler with respect to the matters contemplated herein, and supersede all prior and contemporaneous understandings, writings, letters, statements or promises between you and Oiler regarding the subject matters hereof. Unless otherwise expressly provided herein, there shall be no third-party beneficiaries hereto.
30. PERSONAL DATA
Please learn more about how we process your personal data in our Privacy Policy available at https://docs.oiler.network/oiler-network/token/privacy-policy https://www.oiler.network/privacy.
31. SURVIVAL
Sections 17-20, 24 to 26, 28, 31 to 35 of these Terms and provisions hereof constructed to survive the termination of these Terms shall survive any expiration or termination of these Terms, regardless of reason.
32. LANGUAGE
Currently, only English version of these Terms and any Communications is considered official. The English version shall prevail in case of differences in translation of any materials, information, documents, Communications or other content.
33. ASSIGNABILITY
Neither party may assign or transfer any rights or obligations under these Terms without other party's prior written notice, provided, however, that Oiler may assign and transfer these Terms, all and any rights and obligations hereunder to an Affiliate or successor, without your consent or approval, or any prior notice.
34. VALIDITY AND ENFORCEABILITY
The invalidity or unenforceability of any provision or part-provision of these Terms shall not affect the validity or enforceability of any other provisions of these Terms, all of which shall remain in full force and effect.
35. INTERPRETATION
Unless the context otherwise requires, a reference to one gender shall include a reference to the other genders; words in the singular shall include the plural and in the plural shall include the singular; any words following the terms including, include, in particular, for example or any similar expression shall be construed as illustrative and shall not limit the sense of the words, description, definition, phrase or term preceding those terms; Section headings do not affect the interpretation of these Terms. You hereby agree that a rule of construction does not apply to the disadvantage of Oiler because it was responsible for the preparation of these Terms.
Last modified 6mo ago
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