Terms of Service
HONO Protocol Terms of Use
Last updated: 11 November 2024
Introduction
These HONO Protocol Terms of Use (together with all appendices and exhibits hereto, which are hereby incorporated by reference, these “Terms,” “Terms of Use,” or this “Agreement”) explain the terms and conditions by which you, whether personally or on behalf of an entity (“you”), may access and use the software products and services (the “Services”) provided by HONO Protocol (hereinafter referred to as “HONO Protocol” “we,” “us,” and “our”) to interact with the non-custodial, blockchain-based software protocol known as the “HONO Protocol,” as described below. The Services shall include, but shall not necessarily be limited to, the website, https://honoprotocol.com (the “Website”), and https://app.honoprotocol.com, a website-hosted user interface, as well as any other websites, apps, interfaces or dashboards, available through the honoprotocol.com domain, its subdomains, or any other means (the “Interface” or “Web App”). Please read these Terms of Use carefully as they govern your use of the Services.
You Are Entering Into a Binding Agreement
By accessing, using or interacting with the Services in any way, including by connecting your digital wallet address to the Interface, you represent that you have read, understand, acknowledge, and agree that you are entering into a binding legal agreement with us that includes these Terms and the Privacy Policy in their entirety. If you do not agree to be bound, you are not authorized to access, and should not use, any of the Services.
Technical Services Only
THE SERVICES INCLUDE TECHNICAL AND ADMINISTRATIVE SERVICES THAT MAKE IT POSSIBLE FOR USERS TO ACCESS AND INTERACT WITH ON CHAIN SMART CONTRACTS THAT FUNCTION DETERMINISTICALLY AND ARE NOT OPERATED OR CONTROLLED BY HONO PROTOCOL, AND INCLUDE, AMONG OTHER THINGS, THE INTERFACE, WHICH ALLOWS USERS TO DIRECTLY INTERACT WITH THE FULLY NON CUSTODIAL, DECENTRALIZED SOFTWARE PROTOCOL, KNOWN AS THE “HONO PROTOCOL,” WHICH OPERATES ON A PERMISSIONLESS PUBLIC BLOCKCHAIN, AS WELL AS OTHER SIMILAR PROTOCOLS. THE SERVICES ARE DISTINCT FROM THE HONO PROTOCOL AND PROVIDE ONE, BUT NOT THE EXCLUSIVE, MEANS OF ACCESSING THE HONO PROTOCOL. THE HONO PROTOCOL CONSISTS OF OPEN SOURCE, SELF EXECUTING, AUTONOMOUS SMART CONTRACTS THAT ARE DEPLOYED ON THE ETHEREUM BLOCKCHAIN. HONO PROTOCOL IS NOT A BROKER, DEALER, EXCHANGE, INVESTMENT ADVISER, CUSTODIAN OR FINANCIAL SERVICE PROVIDER OF ANY KIND. WE DO NOT HAVE A FIDUCIARY RELATIONSHIP OR OBLIGATION TO YOU IN CONNECTION WITH ANY OF THE SERVICES.
Binding Arbitration; Class Action and Jury Trial Waiver
PLEASE BE AWARE THAT SECTION 5 GOVERNS THE RESOLUTION OF DISPUTES
BETWEEN YOU AND US. SECTION 5 INCLUDES AN AGREEMENT TO ARBITRATE, WHICH REQUIRES, WITH LIMITED EXCEPTIONS, THAT ALL DISPUTES BETWEEN YOU AND US SHALL BE RESOLVED BY BINDING AND FINAL ARBITRATION.
SECTION 5 ALSO CONTAINS A CLASS ACTION AND JURY TRIAL WAIVER. PLEASE READ SECTION 5 CAREFULLY.
Amendment of These Terms
We reserve the right, in our sole discretion, to amend or modify these Terms at any time. If and when we make changes, we will provide you with notice of such changes by updating the date reflected at the top of these Terms. All amendments will be effective when they are posted, and your continued use of the Services thereafter will constitute your acceptance of such revised Terms. If you do not agree with any such amendment, you must immediately stop accessing the Interface and terminate your use of the Services.
Acknowledgement of Risk
Please refer to the User Risk Documentation for information on the potential risks of engaging with the Services.
Eligibility
To be eligible to access or use any of the Services, you must be at least the age of majority in the jurisdiction in which you reside, and you must have legal capacity, full right, power, and authority to enter into these Terms and be bound by them. If you are accessing or using the Interface on behalf of an entity, you represent that you have the legal authority to bind such entity.
There are certain features which may or may not be available to you depending on your location or other criteria. You must not reside in a jurisdiction where the transfer or holding of cryptoassets is illegal or would require a license or authorization that you do not hold. You further represent that you are not: (i) the subject of economic or trade sanctions administered or enforced by any government authority or otherwise designated on any list of prohibited or restricted parties; (ii) in contravention of any laws or regulations pertaining to anti-money laundering or terrorist financing; (iii) included in the list of Specially Designated Nationals and Blocked Persons maintained by the U.S. Treasury Departmentʼs Office of Foreign Assets Control (“OFAC”) or on any list pursuant to European Union (“E.U.”) or United Kingdom (“U.K.”) regulations (as the latter are extended to the Cayman Islands by statutory instrument); or (iv) operationally based or domiciled in a country or territory in which sanctions imposed by the United Nations (whether through the Security Council or otherwise), OFAC, the E.U, the U.K., or the Cayman Islands Monetary Authority apply.
We reserve the right to limit or block your ability to use the Services where your use is prohibited by any applicable domestic or foreign law, rule, statute, regulation, bylaw, order, protocol, code, decree, directive, requirement, or guideline. If we become aware of any violation of these Terms, we reserve the right to prohibit you from using the Services immediately and without prior notice and to report this violation to the relevant regulatory authorities and/or law enforcement, as necessary. This right extends to where we have reasonable grounds to suspect that a prohibition outlined herein may apply. We may also take any additional actions that we deem appropriate to comply with applicable law.
By using the Services, you represent and warrant that you meet the requirements contained in these Terms. As a condition to using the Services, you further represent and warrant to us that:
You are eligible to enter into the Agreement and use the Services in accordance with these Terms.
This Agreement is valid, binding on you, and enforceable against you.
You will comply with all terms and conditions of this Agreement.
You are not entering into the Agreement and using the Services in your capacity as a consumer.
You will ensure that all information that you provide when using the Services is current, complete, and accurate.
You will maintain the security and confidentiality of access to your cryptocurrency wallet address via private keys, access credentials, or otherwise.
You acknowledge and agree that access to the Services is provided “as is” and “as available” basis, only.
You acknowledge and agree that from time to time the Website may be inaccessible or inoperable for any reason, including, without limitation: (i) equipment malfunctions; (ii) periodic maintenance procedures or repairs which we may undertake from time to time; (iii) causes beyond our control or which are not reasonably foreseeable by us; (iv) disruptions and temporary or permanent unavailability of the underlying blockchain infrastructure; (v) unavailability of third party service providers or external partners for any reason. In such a case, you may be prevented from accessing or using the Services.
You acknowledge and agree that the Services may evolve or change over time. This means we may alter, replace, or discontinue (temporarily or permanently) the Services at any time in our sole discretion.
You acknowledge and agree that the pricing information provided in the Interface does not represent an offer, a solicitation of an offer, or any advice regarding, or recommendation to enter into, a transaction with us.
You further acknowledge and agree that you are not relying upon pricing information provided in the Interface and will undertake reasonable independent diligence as to pricing information which may appear in the Interface.
You acknowledge and agree that we do not act as an agent for any of the users, or for any party or parties who may otherwise use any underlying blockchain infrastructure that is involved in any of the Services.
You are solely responsible for your use of the Services, including all transactions you make.
In connection with using the Services, you will only transact legally obtained assets that belong to you.
You will obey all applicable domestic and international laws in connection with using the Services.
You will not use the Services if the laws of your country, or any other applicable law, prohibits you from doing so in accordance with this Agreement.
You are solely responsible for reporting and paying any taxes applicable to your use of the Services.
You are responsible for complying with any applicable export controls or embargoes.
Any assets used by you in connection with the Services are either owned by you or you are validly authorized to carry out actions using such assets.
You acknowledge and agree that we have no control over, or liability for, the delivery, quality, safety, legality or any other aspect of any assets that you may transfer to or from a third party, and that we are not responsible for ensuring that an entity with whom you transact actually completes the transaction or is authorized to do so. If you experience a problem with any assets purchased from or sold to a third party through the Services, you bear the entire risk.
You covenant that all activity and conduct in connection with your use of the Services, including any resultant transactions of the assets, will be in compliance with all applicable law, rules, regulations, requirements, guidelines and policies of any governmental or quasi-governmental body or regulatory agency, any self-regulatory organization and that you will not use the Services for any illegal or unlawful purpose.
You will not violate any applicable law, including, without limitation, any relevant and applicable anti-money laundering and anti-terrorist financing laws and any relevant and applicable privacy and data collection laws.
You acknowledge and affirm that you are not and have not been placed on any excluded or denied persons lists by any authority.
You represent and warrant that you are not a resident of any of the following countries or regions (“Prohibited Jurisdictions”): Afghanistan, Belarus, Burma, Burundi, Central African Republic, China, Crimea, Cuba, Democratic Republic of the Congo, Donetsk, Ethiopia, Guinea, Guinea-Bissau, Haiti, Hong Kong, Iran, Iraq, Kherson, Lebanon, Libya, Luhansk, Mali, Nicaragua, Niger, North Korea DPRK , Russia, Somalia, South Sudan, Sudan and Darfur, Syria, United Kingdom, Venezuela, Yemen, Zaporizhzhia, and Zimbabwe.
You represent and warrant that you will not transact with users in any Prohibited Jurisdictions or with any individuals sanctioned by OFAC, or sanctioned under EU or UK regulations.
You do not and will not use Virtual Private Network (“VPN”) software, proxy server, or any other privacy or anonymization tools or techniques to circumvent any restrictions that apply to the Services, especially those which restrict the geographical availability of the Services.
You acknowledge and waive any claim against us based on changes in law, regulatory inquiries, regulatory actions, or claims that limit our ability to provide access to the Services.
You acknowledge that at any time, your access to the Interface may be suspended or terminated, or there may be a delay in your access or use of the HONO Protocol via the Interface which may result in the cryptocurrency assets diminishing in value or you being unable to complete a transaction.
You acknowledge that we use data you submit using the Services through your wallet to detect, prevent and mitigate illicit or harmful activity and that we may share that data with blockchain analytics providers. We share this information with these service providers to allow them to help us to promote the safety, security, and integrity of the Services.
Certain functionalities of the Web App are subject to geographical restrictions, and are not available in selected jurisdictions including the U.S. and Switzerland. Accordingly, users subject to the restriction are served a restricted version of the Web App (the “Restricted Version”) and are prohibited from accessing the restricted features.
1. The Services
1.1 The Interface
The Interface provides both web and mobile access to the fully non-custodial, blockchain-based software protocol known as the “HONO Protocol,” which operates on the Ethereum blockchain, and may extend to several Ethereum Layer 2 solutions in the future. The Interface is distinct from the HONO Protocol and is one, but not the exclusive, means of accessing the HONO Protocol. The HONO Protocol consists of open-source, self-executing, autonomous smart contracts that are currently deployed on the Ethereum blockchain. You may access the Interface via your non-custodial digital wallet, which allows you to directly interact with public blockchains. Your use of a non-custodial digital wallet is governed by the applicable terms of service of the third-party digital wallet provider.
New versions and upgrades to the HONO Protocol may be released from time to time, subject to the independent governance rules of the HONO Protocol. The Services may not be compatible with prior, abandoned or outdated versions of the HONOProtocol. HONO Protcol undertakes no responsibility or obligation to update or maintain the Interface to support legacy versions of the HONO Protocol. The Services may also become degraded or unexpectedly unavailable at times. To the extent you are using the Services to interact with the HONO Protocol, this could result in delays in accessing the HONO Protocol and your funds. We assume no responsibility or liability for any loss of, or delayed access to, your funds or otherwise delayed or failed transactions arising out of or in connection with any such degradation or unavailability of the Services.
1.2 Availability of Third-Party Products and Services
We reserve the right to make certain third-party products and services available to you through API integrations with third-party providers or blockchain-based integrations. Any such third-party products and services may include integrations, links, or other access to third-party services, sites, technology, content, and resources. By choosing to use these third-party products and services, you acknowledge and agree that your use of such products and services is subject to any terms and conditions, privacy policies, and other applicable agreements of the respective third-party providers. It is your responsibility to review and understand these terms before utilizing any third-party products and services available through the Interface. We disclaim any liability for any issues arising from your use of these third-party products and services, including, but not limited to, any breach of contract, privacy, or data security issues. You, and not HONO Protcol will be responsible for any and all fees and charges associated with your use of any thirdparty services. HONO Protocol enables access to these third-party services merely as a convenience, and the inclusion of a third-party service on the Interface does not constitute an endorsement or recommendation of that third partyʼs products and services. Any dealings that you have with third parties while using the Services, such as the Interface, are between you and that third party. HONO Protocol will not be responsible or liable, directly or indirectly, for any damage or loss caused or alleged to be caused, by or in connection with the use of or reliance on any third-party products and services. HONO Protocol has no control over, and is not responsible for the accuracy, reliability, or completeness of such third-party products and services. We encourage you to review the terms of use and privacy policies of the third-party providers prior to using such products and services. Some third-party products or services will provide us with access to certain information that you have provided to such parties through your use of the third-party services, and we will use, store, and disclose such information in accordance with our Privacy Policy. For more information on the implications of using any products and services made available via the Services through thirdparty integrations or otherwise, including our use, storage, and disclosure of information related to you and your use of such third-party services within the Services, please see our Privacy Policy.
1.3 Other Products and Services
We may, from time to time, in the future offer to you additional products and services. Such products and services shall be considered part of the Services, irrespective of whether such product is specifically defined in these Terms.
1.4 Modifications of the Services
We reserve the right, in our sole discretion, and without any liability to you, to modify, substitute, eliminate, add, or discontinue all or part of any of the Services at any time, including access to products and services made available via any thirdparty API integrations or links or blockchain-based integrations. We further reserve the right to review, modify, filter, disable, delete, and remove any and all content and information from any of the Services at any time, and without any liability to you.
1.5 Informational Resources
We may also make certain informational resources relating to the HONO Protocol, including, without limitation, the documentation on the Website, blog posts, data, articles, tutorials, social media posts and other informational content published by us, our employees or marketing partners (“Informational Resources”), available to you as part of the Services. The Informational Resources provided are not exhaustive and may not cover all aspects of or potential developments concerning the HONO Protocol. You acknowledge and agree that all such Informational Resources are intended for informational and educational purposes only and are not the exclusive or sole source of information regarding the HONO Protocol. HONO Protocol shall not be responsible or liable for any damage or loss caused or alleged to be caused by or in connection with the use or reliance on any
Informational Resources. We assume no responsibility for keeping the Informational Resources up to date and/or accurate.
1.6 User Control of Cryptoassets
You understand, acknowledge and agree that neither we, nor any of our affiliates, are party to any transaction on the HONO Protocol. We do not retain possession, custody, or control over any user cryptoassets at any time. Due to the decentralized, non-custodial nature of the HONO Protocol, HONO Protocol users retain exclusive control over their cryptoassets at all times. You are solely responsible for safeguarding your private keys to your digital wallet/s, and you should never share your wallet credentials or seed phrase with anyone. We accept no responsibility for, or liability to you, in connection with your use of a digital wallet, and we make no representations or warranties regarding how any of the Services will operate with any type of digital wallet. Further, we accept no liability for any acts or omissions by you in connection with, or as a result of, your digital wallet being compromised.
These Terms are not intended to, and do not, create or impose any fiduciary duties on us. To the fullest extent permitted by applicable law, you understand, acknowledge, and agree that we owe no fiduciary duties or liabilities to you or any other party, and to the extent that any such duties or liabilities may exist at law or in equity, those duties and liabilities are hereby irrevocably disclaimed, waived, and eliminated. You further agree that the only duties and obligations that we owe to you are those expressly set forth in these Terms.
1.7 Transaction Fees
Blockchain transactions, including transactions occurring through the HONO Protocol, may require the payment of network transaction fees (i.e., gas fees). You will be solely responsible to pay the gas fees for any transaction that you initiate via any of the Services or through a third-party integration. You will also be responsible for any service or transaction fees assessed by, or in connection with your use of, the HONO Protocol, which may be updated from time to time in accordance with the governance construct of the HONO Protocol.
1.8 Tax Compliance
Your use of the Services, such as the Interface, to access the HONO Protocol, may result in various tax obligations or consequences, such as income or capital gains tax. It is your responsibility to determine whether taxes apply to any transactions that you initiate or receive, and, if so, to report and/or remit the correct tax amount to the appropriate tax authority.
2. Intellectual Property Rights
2.1 Ownership
We own all intellectual property and other rights in each of the Services, and their respective contents, including, but not limited to the software, text, graphics, images, trademarks, service marks, copyrights, patents, and designs. These rights are protected by international intellectual property laws and treaties. All such rights are reserved.
With respect to any feedback you provide to HONO Protocol (whether orally or in writing) concerning the Services, including any features or functionalities thereof, and including identifying potential errors and improvements (“Feedback”), you hereby grant to HONO Protocol an exclusive, worldwide, perpetual, fully paid-up, royalty free, fully-sublicensable (through multiple tiers of sublicensees) and freely assignable and transferable license to use any Feedback for any purpose without payment or restriction. It is further understood that HONO Protocolʼs use of Feedback, if any, may be used by HONO Protocol in its sole discretion, and that HONO Protocol shall in no way be obliged to make any payment to you for or make use of any kind of the Feedback or part thereof.
2.2 License Grant
Subject to your compliance with these terms, we grant you a limited, non-exclusive, non-transferable, revocable license to access and use the Services for your personal, non-commercial use. This license does not include any rights to modify, distribute, or create derivative works of the Services or any part thereof.
Except for the limited license granted in these Terms, HONO Protocol and its licensors retain all right, title, interest and all proprietary rights in and to the Services, including, without limitation, copyrights, patents, trademarks, service marks and trade names. HONO Protocol may change, suspend or discontinue any aspect of the Services at any time, without any liability or obligation to you. HONO Protocol, its licensors and service providers reserve all other rights afforded to them but not granted in these Terms.
Notwithstanding anything to the contrary in the Terms, the Services may contain software components released under separate open-source or business-source license terms, in which case those license terms will govern such software components.
2.3 Restrictions
You agree not to (i) copy, reproduce, distribute, or create derivative works from any part of the Services; (ii) reverse engineer, decompile, or attempt to extract the source code of the Services; (iii) remove, alter, or obscure any copyright, trademark, or other proprietary notices on the Services; (iv) use any automated means, such as bots or scripts, to access or interact with the Services.
2.4 Trademarks
All trademarks, service marks, logos, and trade names associated with the Services are proprietary to us or our licensors. You may not use any of these marks without our prior written consent.
You may not use any of our trademarks, trade names, service marks, copyrights or logos, or our partnersʼ, affiliated entitiesʼ, licensorsʼ, or their licensorsʼ trademarks, trade names, service marks, copyrights or logos, including but not limited to the HONO Protocol name, in any manner that creates the impression that such items: (i) belong to or are associated with you or indicate the sponsorship or approval of us, our licensors, any partners, affiliates or their licensors; or (ii) except as otherwise provided herein, are used with our licensorsʼ, partnersʼ, affiliatesʼ, or their licensorsʼ consent, and you acknowledge that you have no ownership rights in or to any such items.
2.5 Third-Party Content
The Services may include third-party content or links to third-party websites. We do not claim ownership rights in such third-party content, and we expressly disclaim any liability related to it. Your use of third-party content is subject to the terms and conditions of the respective third parties.
3. Disclaimers
By accessing or using the Services, such as the Interface to access the HONO Protocol, you acknowledge and agree to the following disclaimers:
3.1 Disclaimer of Warranties; Limitation of Liability; Indemnification
The Services are provided on an "as is" and "as available" basis without any representations and warranties of any kind, either express or implied, including but not limited to, implied warranties of merchantability, fitness for a particular purpose, and non-infringement. We do not warrant that the Services will be uninterrupted, error-free, secure, or free from viruses or other harmful components. We do not endorse, guarantee, or assume responsibility for any advertisement, offers, or statements made by third parties concerning any of our Services.
HONO PROTOCOL HEREBY DISCLAIMS ANY AND ALL EXPRESS, IMPLIED OR STATUTORY WARRANTIES AND CONDITIONS, INCLUDING ANY WARRANTIES OR CONDITIONS OF NON INFRINGEMENT, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AVAILABILITY, ERROR FREE, OR UNINTERRUPTED OPERATION, AND ANY WARRANTIES ARISING FROM A COURSE OF DEALING, COURSE OF PERFORMANCE OR USAGE OF TRADE. TO THE EXTENT THAT HONO PROTOCOL MAY NOT, AS A MATTER OF APPLICABLE LAW, DISCLAIM ANY IMPLIED WARRANTY OR CONDITION, THE SCOPE AND DURATION OF SUCH WARRANTY OR CONDITION SHALL BE APPLIED TO THE MINIMUM EXTENT PERMITTED UNDER SUCH APPLICABLE LAW.
IN NO EVENT SHALL HONO PROTOCOL, ANY OF ITS AFFILIATES OR ANY OF THEIR RESPECTIVE OFFICERS, DIRECTORS, MEMBERS, EMPLOYEES, CONSULTANTS, AGENTS, REPRESENTATIVES, SERVICE PROVIDERS, SUCCESSORS AND ASSIGNS BE LIABLE TO YOU FOR ANY CONSEQUENTIAL, INDIRECT, INCIDENTAL OR SPECIAL DAMAGES OF ANY TYPE OR NATURE HOWEVER ARISING, INCLUDING, WITHOUT LIMITATION, EXEMPLARY OR PUNITIVE DAMAGES, LOST PROFITS OR REVENUES, LOST DATA OR DIMINUTION IN VALUE, ARISING OUT OF OR RELATING TO THE SERVICES, ANY THIRD PARTY LINKS OR PRODUCTS OR SERVICES MADE AVAILABLE VIA THE SERVICES OR YOUR USE OF THE HONO PROTOCOL VIA THE SERVICES, WHETHER OR NOT THE POSSIBILITY OF SUCH DAMAGES HAS BEEN DISCLOSED TO OR COULD HAVE BEEN REASONABLY FORESEEN BY YOU, REGARDLESS OF THE LEGAL OR EQUITABLE THEORY WHETHER IN CONTRACT, TORT OR OTHERWISE UPON WHICH THE CLAIM IS BASED. IN ADDITION, UNDER NO CIRCUMSTANCES SHALL HONO PROTOCOLʼS AGGREGATE LIABILITY UNDER THE TERMS EXCEED ONE HUNDRED CAYMAN ISLANDS DOLLARS KYD $100.00.
SOME JURISDICTIONS DO NOT ALLOW THE EXCLUSION OF CERTAIN WARRANTIES OR THE LIMITATION OR EXCLUSION OF LIABILITY FOR INCIDENTAL OR CONSEQUENTIAL DAMAGES. ACCORDINGLY, SOME OF THE LIMITATIONS SET FORTH ABOVE MAY NOT APPLY TO YOU. IF YOU ARE DISSATISFIED WITH THE SERVICES, YOU UNDERSTAND AND AGREE THAT YOUR SOLE AND EXCLUSIVE REMEDY IS TO DISCONTINUE USING THE SERVICES.
You agree, at your own expense, to indemnify, defend and hold harmless us and our partners and affiliates and their respective owners, members, agents, directors, officers, employees, representatives, affiliates, successors and assigns against any claim, suit, action or other proceeding from and against any and all claims, damages, liabilities, costs and expenses, including reasonable attorneysʼ and expertsʼ fees, arising out of or in connection with the Services, or any third-party links, products or services made available via the Services, including but not limited to: (i) any breach or violation of the Terms by you; (ii) material, information or content submitted or provided by you; (iii) your use of the Services (including using the Services to access the HONO Protocol); or (iv) any deletions, additions, insertions or alterations to, or any unauthorized use of, the Services by you. You agree to pay any and all costs, damages and expenses, including but not limited to reasonable attorneysʼ fees and costs awarded against or otherwise incurred by or in connection with or arising from any such claim, suit, action or proceeding attributable to any such claim. We reserve the right, at our own expense, to assume the exclusive defense and control of any matter otherwise subject to indemnification by you, in which event you will fully cooperate with us in asserting any available defense.
3.2 No Financial Advice
The information provided through the Services does not constitute investment, financial, or trading advice and should not be relied upon for any investment decisions. Users of the Services are solely responsible for their own investment decisions and should seek the advice of a qualified financial advisor before engaging in any investment activity.
3.3 Assumption of Risk
Participation in decentralized finance (“DeFi”) can involve risk. Please review the
User Risk Documentation for further information. By accessing and using any of the Services, you represent that you are financially and technically sophisticated enough to understand the inherent risks associated with using cryptographic and blockchain-based systems, and that you have a working knowledge of the usage and intricacies of digital assets. In using the Services, such as the Interface to access the HONO Protocol, you acknowledge and accept all risks associated with DeFi activities, including, but not limited to, the following:
You acknowledge that we are not responsible for any of the risks, we do not own or control the HONO Protocol, and we cannot be held liable for any resulting losses that you experience while accessing or using any of the Services to interface with the HONO Protocol. Accordingly, you understand, acknowledge, and agree to assume full responsibility for all of the risks of accessing and using the Interface to interact with the HONO Protocol.
You acknowledge and understand that the Services may not be available or appropriate for use in all jurisdictions and you may be subject to legal and regulatory compliance obligations in connection with your use of the Services in certain jurisdictions. By accessing or using the Services, you agree that you are solely and entirely responsible for compliance with all laws and regulations that may apply to you. You further agree that we have no obligation to inform you of any potential liabilities or violations of law or regulation that may arise in connection with your access and use of the Services and that we are not liable in any respect for any failure by you to comply with any applicable laws or regulations.
You acknowledge that the Services incorporate experimental and novel technology and that the use of such technology involves a high degree of risk. For example, there are numerous reasons the Services and/or HONO Protocol could fail in an unexpected way, resulting in the total and absolute loss of your cryptoassets. You hereby agree that you assume all risks in connection with your use of the Services and expressly waive and release HONO Protocol from any and all liability, claims, causes of action or damages arising out of or in any way relating to you obtaining or using the Services.
You understand and accept the risk of operational challenges related to the Services. For example, the Services may experience cyber-attacks, unexpected surges in transaction volume, botting activity, or other operational or technical difficulties or vulnerabilities that may cause interruptions related to your use of the Services. You agree to accept the risk of a failure of the Services and/or HONO Protocol resulting from unanticipated or heightened technical difficulties or vulnerabilities, including those resulting from cyber-attacks. You agree not to hold HONO Protocol liable for any related losses.
You agree that HONO Protocol is not responsible for any cryptoassets that you receive, transfer, hold, lose or otherwise use or misuse in connection with the Services. Additionally, you agree that HONO Protocol is not responsible for any tax obligations that you incur in connection with your use of the Services.
You understand that all transactions conducted through the HONO Protocol are automatically processed on-chain through smart contracts. By engaging in transactions using the Services, you acknowledge and consent to the automatic processing of all transactions in connection with the Services. By using the Interface, you understand that you are not buying or selling digital assets from us, and we do not control the execution of your transactions on the HONO Protocol. You acknowledge and agree that the applicable smart contract will programmatically facilitate the transfer of cryptoassets in connection with your transactions. You further acknowledge and agree that HONO Protocol does not take possession, custody or control over your cryptoassets at any time.
3.4 Regulatory Compliance
Users are responsible for ensuring that their use of the Services complies with applicable laws and regulations in their jurisdiction. We do not make any representations or warranties regarding the legality of the Services in any jurisdiction.
3.5 Third-Party Services
The Services may interact with third-party services, and we do not assume any responsibility or liability for the actions, products, or services of such third parties. Users should review the terms and policies of any third-party services before use.
3.6 Amendments
We reserve the right to modify or update this disclaimer at any time without prior notice. Your continued use of the Services following any changes constitutes your acceptance of the revised disclaimer.
By accessing or using the Services, you confirm that you have read, understood, and agree to this disclaimer. If you do not agree with any part of this disclaimer, you must immediately stop using the Services.
4. Prohibited Activities
4.1 Technical Performance Prohibitions
You shall not engage in any activities that negatively affect the technical performance of the Services, bypass or circumvent security features of the Services or otherwise disrupt or interfere with the functioning of the Services. You shall not violate or attempt to violate the security of the Services or otherwise misuse the foregoing, including by: (i) accessing any part of the Services or data not intended for you or logging onto a server or an account that you are not authorized to access (including by using a virtual private network or “VPN” to access such data); (ii) disabling, removing, circumventing, defeating or avoiding any security device or system; (iii) attempting to probe, scan or test the vulnerability of the Services or to breach security or authentication measures without proper authorization; (iv) attempting to interfere with the Servicesʼ functionality, including but not limited to via means of submitting any malware or computer programming routines that may damage, disrupt or interfere with, intercept or expropriate any system or data, overloading, “flooding,” “spamming,” “mailbombing” or “crashing” the Services; (v) forging any transmission control protocol/internet protocol packet header or any part of the header information in any email or posting; (vi) using the Services in a manner that exceeds reasonable request volume or constitutes excessive or abusive usage; or (vii) providing false, misleading or inaccurate information to the Services, such as information related to your location whether by use of a VPN or otherwise.
4.2 Intellectual Property Prohibitions
You shall not, directly or indirectly: (i) disassemble, decompile, reverse engineer or use any other means to attempt to discover any source code of the Services (unless such source code is open sourced), or the underlying ideas, file formats, algorithms, or trade secrets therein; (ii) encumber, sublicense, transfer, rent, lease, time-share, or use the Services in any service bureau arrangement or otherwise for the benefit of any third party; (iii) copy, distribute, manufacture, adapt, create derivative works of, translate, localize, port, or otherwise modify any software code or documentation for the Services; (iv) knowingly introduce into the Services any malicious code, computer virus, spyware, scareware, Trojan horses, worms, malware, or any other similar harmful, malicious or hidden programs or data; (v) use the Services to infringe upon, violate or misappropriate any third partyʼs intellectual property rights, violating any law or regulation or being defamatory, trade libelous, threatening or harassing; or (vi) authorize or permit any third party to engage in any of the foregoing proscribed acts. For the avoidance of doubt, the restrictions set forth in this Section are in addition to, and in no way limit, any other restrictions or obligations applicable to you set forth in the Terms.
4.3 Violation of Law Prohibitions
You shall not use the Services to engage in illegal activity of any kind, including, without limitation, any activity that would violate, or assist in violation of, any law, statute, ordinance, regulation, or sanctions programs administered under any applicable law, including, but not limited to, the list of Specially Designated
Nationals and Blocked Persons maintained by OFAC or any list pursuant to the E.U.,
U.K. regulations, the United Nations Security Council, or the Cayman Islands
Monetary Authority, or which would involve proceeds of any unlawful activity.
5. Dispute Resolution by Binding Arbitration
Please read the following arbitration agreement in this Section (the “Arbitration Agreement”) carefully. It requires you to arbitrate disputes with HONO Protocol, its affiliates, successors, and assigns, and all of their respective officers, directors, employees, agents, and representatives (collectively, the "HONO Parties”). It also limits the manner in which you can seek relief from the HONO Parties.
5.1. Informal Dispute Resolution
In the event of any dispute, controversy, or claim arising out of or in relation to these Terms, the parties shall first attempt to resolve the dispute amicably through good-faith negotiations. You can notify us of a dispute by emailing us at Insert email address]. Such notification must describe the nature and basis of the dispute and set forth the specific relief sought ("Notice").
If the dispute set out in a Notice is not resolved by negotiation within sixty 60) days from the date of notification, the dispute shall be referred to arbitration.
Both you and the HONO parties agree that this informal dispute resolution procedure is a condition precedent which must be satisfied before initiating any arbitration against any other party.
5.2. Applicability of the Arbitration Agreement
All unresolved disputes, claims, or controversies arising out of or relating to any of the Services or these Terms shall be finally resolved by arbitration under the rules of the Cayman Islands Association of Mediators and Arbitrators (“CI MAC”), which are deemed to be incorporated by reference into this clause.
If there is any inconsistency between any term of the CI MAC Rules and any term of this Arbitration Agreement, the applicable terms of this Arbitration Agreement will control unless the arbitrator determines that the application of the inconsistent Arbitration Agreement terms would not result in a fundamentally fair arbitration. The arbitrator must also follow the provisions of these Terms as a court would.
This Arbitration Agreement shall survive termination of these Terms, the Services, or any connection you may have to the information you obtained from the Interface.
5.3. Terms of the Arbitration
The following terms shall apply to any Arbitration proceedings commenced under this Agreement:
- The number of arbitrators shall be one.
- The seat, or legal place, of arbitration shall be George Town, Grand Cayman.
- The language of the arbitration shall be English.
- All issues are for the arbitrator to decide, including issues relating to the scope, enforceability, and arbitrability of this Arbitration Agreement.
- The decision of the arbitrator shall be final and binding on the parties, and judgment on the award rendered by the arbitrator may be entered in any court having jurisdiction thereof.
- All negotiations and arbitration proceedings related to any dispute (including, but not limited to, any settlements, awards, and the fact that they have taken place) shall be kept confidential by the parties, their representatives, and any participants in the arbitration, except as may be required by law or to enforce any settlement or arbitration award.
- Each party shall bear its own costs and expenses in connection with any arbitration proceedings, except that the arbitrator may award costs and expenses (including reasonable attorneysʼ fees) to the prevailing party as part of the arbitration award.
5.4. Exclusions and other terms
This dispute resolution process shall not preclude either party from seeking interim or injunctive relief in a court of competent jurisdiction, including relief for the alleged unlawful use of intellectual property.
To the extent permitted by applicable law, any dispute arising out of or relating to these Terms, shall be conducted only on an individual basis and not in a class, consolidated or representative action. Notwithstanding any other provision of the Terms or the CI MAC Rules, disputes regarding the interpretation, applicability or enforceability of this class waiver may be resolved only by a court and not by an arbitrator. If this waiver of class or consolidated actions is deemed invalid or unenforceable, neither party is entitled to arbitration. If for any reason a claim or dispute proceeds in court rather than through arbitration, each party knowingly and irrevocably waives any right to trial by jury in any action, proceeding or counterclaim arising out of or relating to the Terms.
6. Governing Law
These Terms and the Services, and any non-contractual obligations arising out of or in connection with them, shall be governed by and construed in accordance with the laws of the Cayman Islands without regard to the principles of conflict of laws.
Except as expressly set forth in Section 5, “Dispute Resolution by Binding
Arbitration”, the exclusive jurisdiction for all disputes will be the courts of the Cayman Islands, and you waive any objection to jurisdiction and venue in such courts.
7. Additional Provisions
7.1 Entire Agreement
These Terms, together with the Privacy Policy, constitute the entire agreement between you and HONO Protocol with respect to the subject matter hereof, and supersede and extinguish all prior and contemporaneous understandings, agreements, representations, warranties, and communications, whether written or oral, between you and HONO Protocol regarding such subject matter. You acknowledge that, in entering into these Terms, you have not relied on any statement, representation, warranty, or promise other than as expressly set out in these Terms. No modification, amendment, or waiver of any of the provisions of these Terms shall be effective unless in writing and signed by both you and an authorized representative of HONO Protocol. If any provision of these Terms is found to be invalid or unenforceable, the remaining provisions shall continue in full force and effect.
7.2 Force Majeure
HONO Protocol shall not be liable for any failure or delay in the performance of its obligations under these Terms if such failure or delay is caused by or results from events beyond its reasonable control, including but not limited to acts of God, natural disasters (including but not limited to earthquakes, floods, and hurricanes), fire or explosion, war, invasion, hostilities (whether war is declared or not), terrorist threats or acts, riot, or other civil unrest, government orders or laws, actions, embargoes, or blockades in effect on or after the date of these Terms, national or regional emergency, strikes, labor stoppages or slowdowns, or other industrial disturbances, shortages of adequate power or transportation facilities, cyberattacks, including but not limited to distributed denial-of-service (“DDoS”) attacks, and epidemic, pandemic, or other public health emergencies.
7.3 Waiver and Severability
If any provision of these Terms shall be determined to be invalid or unenforceable under any rule, law, or regulation of any government authority, such provision will be changed and interpreted to accomplish the objectives of the provision to the greatest extent possible under any applicable law, and the validity of enforceability of any other provision of these Terms shall not be affected.
7.4 Assignment
You may not assign or transfer this Agreement, by operation of law or otherwise, without our prior written consent. Any attempt by you to assign or transfer this Agreement without our prior written consent shall be null and void. We may freely assign or transfer this Agreement. Subject to the foregoing, this Agreement will bind and inure to the benefit of the parties, their successors, and permitted assigns.
7.5 Termination
This Agreement is effective unless and until terminated by either you or us. You may terminate your Agreement with us at any time by ceasing all access to the Services. If, in our sole judgment, you fail, or we suspect that you have failed, to comply with any term or provision of the Agreement (including without limitation any provision of these Terms), we reserve the right to terminate our Agreement with you and deny you access to the Services. We further reserve the right to restrict your access to the Services or to stop providing you with all or a part of the Services at any time and for no reason, including, without limitation, if we reasonably believe that: (i) your use of the Services exposes us to risk or liability; (ii) you are using the Services for unlawful purposes; or (iii) it is not commercially viable to continue providing you with our Services. All of these are in addition to any other rights and remedies that may be available to us, whether in equity or at law, all of which we expressly reserve.
7.6 Relationship of the Parties; No Third-Party Beneficiaries
Nothing contained in the Terms shall constitute you and HONO Protocol as members of any partnership, joint venture, association, syndicate, unincorporated business or similar assignment as a result of or by virtue of the relationship established by the Terms.
The Terms are not intended and shall not be construed to create any rights or remedies in any parties other than you and HONO Protocol and HONO Protocolʼs affiliates, which each shall be a third-party beneficiary of the Terms, and no other person shall assert any rights as a third-party beneficiary hereunder.
7.7 Notices
By accessing or using the Services, you consent to receive electronic communications.
HONO Protocol may provide you with notice and other communications via electronic communications as permitted by this Section.
You may provide us with notice by contacting us via electronic mail at [email protected] ("Notice Address").
All notices will be deemed effective upon dispatch.
If you have any questions about these Terms or the Services, please contact us at our Notice Address.