Risk Disclosure Statement
Last updated: June 2, 2022
It is critical that You understand the risks before purchase or transacting on the Platform using TLaunchpad Services. The potential risks of purchase or transacting using TLaunchpad Services are discussed in greater detail below. It is important to note that the risks described below are not intended to be exhaustive and are not presented in any assumed order of priority. We ask that You carefully read them and consider whether such purchase and transacting on the TLaunchpad Platform is appropriate in the User's specific circumstances. If you do not fully understand the risks of using TLaunchpad Services, you should seek independent professional advice.
Token Purchase Risks. You acknowledge and agree that accessing and using the Services is at the User’s own risk. Purchase Digital Token pairs carries a significant risk of loss. As a result, You should carefully consider whether such purchase is appropriate for You in light of the User's circumstances, goals, and financial resources. The following points should be noted:
Internet Transmission Risks and Error Correction. You understand that there are risks associated with using an Internet-based purchase system, including, but not limited to, hardware, software, and Internet connections failing. You agree that TLaunchpad is not liable for any communication failures, disruptions, errors, distortions, or delays You may encounter while purchasing through the Services, regardless of the cause.
If an order, trade or transfer is on an obvious-error-based (regardless of whether You or We or any other user gains from the error) and/or executed and/or settled on the obvious-error-basis, TLaunchpad may (but is not obliged to), at its option and sole discretion, act reasonably and in good faith to: (a) correct, reverse or cancel any order, trade or transfer; (b) void a trade as if it had never taken place; and/or (c) amend a trade so that its terms are the same as the trade which would have been executed if there had been no obvious error. There is a risk that You may be prejudiced by any action or omission of TLaunchpad in this regard, and You accept that You have no recourse whatsoever against TLaunchpad.
Risks Associated with Attacks on the Services or the TLaunchpad Accounts. The Services and/or the TLaunchpad Accounts and the Funds held therein may be subject to attacks on their security, integrity or operation, and You acknowledge and agree that TLaunchpad shall not be responsible or liable for any losses resulting from such attack.
Risks from Properties of Digital Tokens.
- Any Digital Token as well as the software, networks, protocols, systems and other technology (including, if applicable, any blockchain) used to administer, create, issue, transfer, cancel, use or transact in any Digital Token (the “Underlying Technology”) may be vulnerable to attacks on its security, integrity or operation (“Attacks”), including attacks using computational power sufficient to overwhelm the normal operation of a blockchain or other Underlying Technology.
- Any Digital Token or Underlying Technology may change or otherwise cease to function as expected as a result of a change made to the Underlying Technology, a change made using features or functions built into the Underlying Technology, or a change caused by an Attack. These modifications may include but not limited to, a “fork” or “rollback” of a Digital Token or blockchain.
- Any Digital Token may be cancelled, lost or double spent, or have its traded price otherwise diminished, due to forks, rollbacks, Attacks, changes to the functions, characteristics, operation, use and other properties of the Digital Token or failure of the Digital Token to operate as intended.
- TLaunchpad may not support related side chains or other Underlying Technology of Digital Tokens that are based on a fork, enhancement, or derivative of a different Digital Token or Underlying Technology, even if such is based on a Digital Token that is supported by TLaunchpad. Any Digital Token may be lost if sent to the incorrect address (for example but without limitation, if the address is improperly formatted, contains errors, or is intended to be used for a different type of Digital Token).
Counterparty Risk. We have no control or liability over the delivery, quality, safety, legality, or any other aspect of any Digital Tokens that You may buy or sell to or from a user of the Services. We are not responsible for ensuring that a third-party buyer or seller with whom You transact will complete or is authorized to complete a trade or transaction. There is also no guarantee fund or other arrangement in place to cover or compensate You for any monetary loss suffered as a result of the defaults or insolvency of any other users of the Services.
The User’s Acknowledgment
The risks detailed in this Risk Disclosure Statement may result in the loss of Digital Tokens, a decrease in or loss of all value for Digital Tokens, the inability to access or transfer Digital Tokens, the inability to trade Digital Tokens, the inability to receive any specific utility, access, or benefits available to other Digital Token holders, and other financial losses to You. You hereby accept and agree that TLaunchpad will bear no responsibility or liability for such risks at any time. You hereby irrevocably waive, release, and discharge any and all claims against TLaunchpad and their respective directors, members, officers, employees, agents, and contractors, whether known or unknown to You. You agree that you cannot and will not sue, file a lawsuit, ask for accountability, and claim for compensation TLaunchpad and their respective directors, members, officers, employees, agents, and contractors, for any losses suffered by You as a result of using the Services.