# Terms of Service

Welcome to the Quant.Fun protocol's website and interface. These Terms of Use govern your access to and use of the domain <https://quant.fun/> and all associated pages, features, services, and applications that operate the Quant.Fun platform (collectively referred to as the “Interface”).

QUANT.FUN IS NOT A REGULATED ENTITY UNDER THE SEC OR CFTC, AND DOES NOT OPERATE ANY REGULATED ACTIVITY UNDER APPLICABLE JURISDICTIONS. IN COMPLIANCE WITH LAWS AND REGULATIONS, YOUR ACCESS TO OR USE OF QUANT.FUN’S INTERFACE MAY BE LIMITED IN SELECT LOCATIONS OR TO CERTAIN USERS.

THESE TERMS DO NOT FULLY DISCLOSE THE RISKS OR MATERIAL ASPECTS OF USING QUANT.FUN’S SERVICES. THE USER SHOULD NOT CONSTRUE THESE TERMS OR ANY TERMS OF THE AGREEMENT AS LEGAL, TAX OR FINANCIAL ADVICE. QUANT.FUN IS NOT ACTING AS THE USER’S FINANCIAL ADVISOR AND THE USER MUST NOT REGARD QUANT.FUN AS ACTING IN THAT CAPACITY. THE USER SHOULD CONSULT HIS OWN INDEPENDENT PROFESSIONAL ADVISORS BEFORE ENTERING INTO ANY TRANSACTION AND ONLY USE THE SERVICES IF THE USER HAS FULLY UNDERSTOOD THE NATURE, THE CONTRACTUAL RELATIONSHIP INTO WHICH HE IS ENTERING, ALL RELEVANT TERMS AND CONDITIONS AND THE NATURE AND EXTENT OF THE USER’S EXPOSURE TO LOSS. THE USER HAS BEEN RECOMMENDED TO READ THESE TERMS CAREFULLY AND RETAIN THESE FOR THE USER’S RECORDS.

1\. Acceptance of Terms.

By using the Interface, you (the "User") agree to these terms, which form a legal agreement between you and Quant.Fun ("Company," "we," or "us"). These terms, along with the Risk Warnings and Disclaimers Statement and any referenced documents (collectively, the “Terms of Use”), outline the rules for accessing and utilizing the Interface, including all content, features, vaults, subpages, and services available through it.

Before using the Interface, please carefully review these Terms of Use. By using the Interface or clicking to accept the Terms when prompted, you agree to comply with and be bound by them. If you do not agree to these Terms of Use or any applicable documents, you must refrain from using the Interface. In case of any conflict between these Terms and other applicable terms, these Terms will take precedence unless explicitly stated otherwise.

2\. Changes to the Terms of Use.

The Company reserves the right to modify and update these Terms of Use at its sole discretion. Any changes will take effect immediately upon being posted and will apply to all future access and use of the Interface.

By continuing to use the Interface after updated Terms of Use are posted, the User acknowledges and agrees to these changes. It is the User’s responsibility to review this page regularly to stay informed of any updates, as these modifications are binding.

If the User disagrees with the revised Terms of Use, they must immediately stop using Quant.Fun’s services.

3\. Electronic Communication.

By agreeing to these Terms of Use, the User consents to receive communications from the Company electronically, including via email or other electronic messaging systems. This consent applies to all agreements, disclosures, and other communications that would otherwise be required to be provided in writing. The User acknowledges that electronic communications fulfill any legal requirements for written communication and waives the right to request a non-electronic, original signature, unless prohibited by applicable law.

4\. Accessing the Interface and User Security.

The Company reserves the right to modify, pause, or withdraw the Interface or any of its services or materials at its discretion, without prior notice. The Company shall not be held liable for any periods during which the Interface or parts of it are unavailable. Periodically, access to certain parts of the Interface, or the entire Interface, may be limited to specific users.

The User is responsible for:

* Ensuring that necessary arrangements are in place for accessing the Interface.
* Ensuring that any individuals using the Interface through the User’s internet connection are aware of and comply with these Terms of Use.

To use the Interface or access certain resources, the User may be required to utilize Web3 tools, such as MetaMask or other crypto wallets compatible with their web browser (“Web3 Utilities”). The User must ensure that these Web3 Utilities and their associated private key(s) are operated solely by the party who created the keys and only with their explicit permission. Additionally, all information provided while interacting with the Interface must comply with the policies referenced on the Interface, and the User consents to the Company’s use of this information in accordance with those policies.

If a Web3 Utility requires the use of a username, password, private key, or other security credentials, the User agrees that the identity tied to the Web3 Utility is personal and confidential. The User must ensure the protection of this identity and prevent unauthorized access by locking the Web3 Utility after each session. Caution should be exercised when using the Interface on public or shared computers to prevent others from accessing the User’s sensitive information.

The Company reserves the right to disable any Web3 Utility-linked identity (such as a public address) or block an IP address from accessing the Interface at its discretion, especially in cases where the User or identity is deemed to have violated any part of these Terms of Use.

5\. Eligible Users.

To be eligible to use Quant.Fun’s products and/or services (including and not limited to the Interface), you must:

* acknowledge and agree that the products and/or services may be provided by Quant.Fun with the support of its affiliates;
* be a natural or legal person or other body corporate with full legal capacity and authority to enter into these Terms of Use;
* in the case of an individual, be at least 18 years old or of legal age specified by applicable law in your jurisdiction of residence for a binding contract;
* in the case of an authorized person entering into these Terms of Use on behalf of a body corporate, have all the necessary rights and authorities to bind such body corporate;
* not reside in a country where the relevant products and/or services are inaccessible; and
* not be a Proscribed Person.

“Proscribed Person” refers to a person who is, or appears to Quant.Fun to: (a) be in breach of any AML/CFT Requirements of any jurisdiction; (b) appear in a list of persons with whom dealings are proscribed by the United Nations or another government agency or a regulatory authority under applicable laws; or act on behalf, or for the benefit of, any person described in (a) or (b).

6\. Prohibited Uses.

The User may only access and use the Interface for lawful purposes and in compliance with these Terms of Use. The User agrees not to use the Interface for the following purposes:

* In any manner that violates federal, state, local, or international laws or regulations, including those related to the export of data or software across borders.
* To exploit, harm, or attempt to harm minors by exposing them to inappropriate content, soliciting personal information, or engaging in any other harmful behavior.
* To transmit or facilitate the sending of any unsolicited advertising or promotional material, such as "junk mail," "spam," chain letters, or similar solicitations.
* To impersonate or attempt to impersonate the Company, its employees, other users, or any other individual or entity, including through deceptive email addresses, screen names, or blockchain identities.
* To engage in conduct that disrupts or inhibits another's use or enjoyment of the Interface, or that could harm the Company or other users, or expose them to liability.
* If the User is from or accessing the Interface from a prohibited region or is subject to economic sanctions, or is listed as a Specially Designated National by the U.S. Office of Foreign Asset Control (OFAC).
* If use violates any law or regulation in the User's jurisdiction.

Additionally, the User must not:

* Attempt to deceive or defraud any person, or actually deceive or defraud by providing false, inaccurate, or misleading information to unlawfully obtain another's property.
* Promote illegal activity or assist in any unlawful act.
* Misrepresent the User's identity or affiliations, or impersonate others.
* Engage in activities that violate laws related to trading markets, such as spoofing, pump-and-dump schemes, or wash trading.
* Suggest that actions or communications emanate from or are endorsed by the Company or any entity unless this is true.
* Use the Interface for any securities-related transactions or transactions that require registration with regulatory bodies such as the SEC, FINRA, CFTC, SFC and MAS, among others.
* Overburden, damage, or interfere with the Interface’s functionality or other users’ ability to engage in real-time activities on the platform.
* Use automated means (e.g., robots, spiders) or manual processes to monitor or copy any material from the Interface without prior written consent.
* Introduce harmful software such as viruses, malware, worms, Trojan horses, or other malicious technology.
* Attempt unauthorized access to any part of the Interface, its server, blockchain, or any related systems or databases.
* Violate others' legal rights (including privacy and publicity) or engage in actions that may lead to civil or criminal liability.
* Launch denial-of-service or distributed denial-of-service attacks against the Interface.
* Otherwise attempt to interfere with the proper functioning of the Interface.

The User must refrain from any actions that could compromise the security, functionality, or integrity of the Interface or any associated systems.

7\. Instructions.

The User acknowledges that he is entitled to provide instructions (through a Web3 Utility or otherwise) by providing notice through the Interface, including instructions to deposit, withdraw or cancel, provided that an instruction may not be complied with if not in compliance with the Terms of Use, or, if it has been executed by Quant.Fun already and the transaction of such instruction has been published to the public blockchain. The User shall bear all risks, liabilities and losses as a result of a failed instruction or Quant.Fun’s failure to execute the instruction.

8\. Monitoring and Enforcement; Termination.

The Company reserves the right to:

* Take appropriate legal actions, including referring cases to law enforcement authorities, in response to any illegal or unauthorized use of the Interface.
* Terminate or suspend a User’s access to part or all of the Interface at its discretion, including in cases of violation of these Terms of Use.

The Company shall not be held liable for any harm, damage, or issues arising from interactions with the underlying blockchain supporting the Interface.

9\. Changes to the Interface.

The Company may periodically update the content, design, and features available through the Interface. However, the Interface may not always be fully up-to-date, and the Company is under no obligation to ensure that any material is current. Information or functionalities on the Interface may become outdated, and the Company is not required to update them.

10\. No Professional Advice.

All content and information provided on the Interface is intended solely for informational purposes and should not be interpreted as professional advice, including but not limited to legal, tax, or financial advice. The Company makes no warranties regarding the accuracy, completeness, or usefulness of the information provided. Users should not act or refrain from acting based on information provided on the Interface, including posts, articles, third-party links, social media communications, or tutorials.

Any reliance on such information is entirely at the User's own risk, and the User assumes the high degree of risk that comes with using blockchain technology. Users are strongly encouraged to seek independent, professional advice from licensed and qualified experts before making any financial, legal, or other decisions based on the Interface.

The User agrees and acknowledges that, to the fullest extent permissible by law, they have not relied on the Company or any other participant for professional advice when interacting with the Interface.

11\. No Fiduciary Duties.

The provision of the Interface and this Agreement does not create any fiduciary or professional duties between the Company and the User or any third party. The User agrees, to the fullest extent permissible by law, that their use of the Interface does not impose any fiduciary obligations or liabilities on the Company. The User further acknowledges and irrevocably waives any claims of fiduciary duties or liabilities against the Company.

The User agrees that the only duties or obligations the Company or any participant owes are those explicitly outlined in this Agreement, and that the User has no rights outside of those expressly granted in these Terms of Use related to the Interface or the Protocol.

12\. Market Fluctuations and Extreme Market Events.

If Quant.Fun acting reasonably determines that an extreme market event is occurring in relation to a service (including but not limited to a vault or strategy) offered through the Interface, the User agrees that Quant.Fun may take such action as it considers necessary, and in accordance with applicable laws, to respond to this extreme market events, including but not limited to immediately suspending or terminating some of the products or services, immediately removing or a vault from the Interface, forcing redemptions or liquidations by a User and changing the allocation of a User.

13\. Fees and Taxes.

The User will pay all applicable fees, costs, charges, expenses and commissions to Quant.Fun as set out on the Interface (updated from time to time), including costs in connection with networks or blockchains underlying a vault and/or engagement of third party service providers, as well as applicable levies imposed by relevant government agencies.

The User acknowledges and agrees that Quant.Fun may change the relevant applicable fee rate or introduce a new charge from time to time and with immediate effect. Should the User continue to use the Interface, the User shall be considered to have accepted and agreed to the changes.

14\. Warranty Disclaimer.

The User acknowledges and agrees that their use of the Interface, its content, and any services provided through it is entirely at their own risk.

The Interface and any vaults on Quant.Fun is provided on an "AS IS" and "AS AVAILABLE" basis. To the fullest extent permitted by applicable law, the Company and its affiliates disclaim all warranties, whether express, implied, or statutory, including but not limited to implied warranties of merchantability, non-infringement, and fitness for a particular purpose. Neither the Company nor any associated person makes any warranties or representations regarding the completeness, security, reliability, quality, accuracy, or availability of the Interface.

The Company and its affiliates make no representations or warranties that:

* Access to the Interface will be uninterrupted, continuous, timely, secure, free from errors, or defects.
* Information presented on the Interface is accurate, complete, reliable, current, or relevant.
* The Interface will be free from viruses, malicious software, bugs, errors, or other harmful elements, or that such issues will be corrected.
* The Interface will meet the User’s expectations.
* Any communication or documentation from the Company should be regarded as providing a warranty concerning the Interface or any related protocol.

The Company does not endorse or take responsibility for any content, advertisements, offers, statements, or actions of third parties that may appear through the Interface.

The User is solely responsible for implementing sufficient security and backup procedures, including but not limited to:

* Choosing and maintaining an appropriate Web3 Utility.
* Protecting against viruses and ensuring the accuracy of data input and output.
* Maintaining backup copies of any important data externally to prevent data loss.

To the fullest extent permitted by law, the Company will not be liable for any damages or losses resulting from distributed denial-of-service attacks, viruses, or other harmful materials that may infect the User's devices, data, or proprietary information due to their use of the Interface, any services obtained through the Interface, or downloading content from the Interface or any linked website.

15\. Limitation of Liability.

To the fullest extent permitted by law, the Company, its affiliates, agents, licensors, service providers, employees, officers, or directors shall not be liable for any damages of any kind arising from or related to the User’s use or inability to use the Interface, the underlying protocol or blockchain, or any linked websites. This includes, but is not limited to, claims for direct, indirect, special, incidental, consequential, or punitive damages such as personal injury, pain and suffering, emotional distress, loss of revenue, loss of profits, loss of business, loss of anticipated savings, loss of use, loss of goodwill, or loss of data, whether such claims arise from tort (including negligence), breach of contract, or otherwise, even if foreseeable.

For the avoidance of doubt, Quant.Fun and/or any of its affiliates will not be liable for any loss incurred or damage suffered arising from:

* any use of the User’s Account by the User or by any third party (whether or not authorized by the User);
* unauthorized, mistaken, or accidental transfer or exchange of the User's digital assets;
* any malfunction, defect or error in any terminal used to process any instructions from the User;
* any delay or inability on Quant.Fun’s part to perform any of our obligations under these Terms because of any force majeure event;
* any damage to or loss or inability to retrieve any data or information that may be related to Quant.Fun's provision of Services;
* fraud or forgery of any third parties;
* any actual or potential losses that may result based on the decision to support a Fork, or the timing of implementation of support;
* any downtime due to the inability to trade or otherwise transfer digital assets; or
* any hold, or for the User's inability to withdraw digital assets or execute trades during the period of any such hold.

Quant.Fun will not be liable for any loss that is caused by any malfunction of a third party application programming interface or other related interactions with any third party software.

This limitation of liability also applies to any damages caused by third parties or any failure of the protocol or underlying blockchains.

The foregoing limitation of liability does not apply to any liability that cannot be excluded or limited under applicable law.

16\. Nature of Blockchain; Assumption of Risk; Waiver of Claims.

Blockchain technology and smart contracts are emerging and evolving, carrying both foreseeable and unforeseeable risks in areas such as security, financial stability, technical reliability, and regulatory compliance. The User acknowledges that participating in blockchain activities requires a high level of expertise and knowledge, as blockchain-related technologies are inherently volatile and complex. Factors contributing to this volatility may include adoption rates, speculative activity, security risks, manipulation, and evolving legal and regulatory frameworks. Additionally, blockchain transaction costs and speeds can fluctuate, and due to the public nature of many blockchains, the User’s activity may be visible to others.

By accessing and using the Interface, the User acknowledges and agrees to the following:

* Understanding of Risks: The User is fully aware of the risks associated with blockchain technology and the Protocols underlying the Interface.
* Sufficient Knowledge: The User has sufficient knowledge and understanding of blockchain technologies, crypto-assets, crypto mining, Web3 Utilities, and smart contracts to operate safely and efficiently. The User is aware of both the foreseeable risks and the possibility of unforeseen risks.
* Volatility of Crypto-assets: The User understands that crypto-assets involved in the Interface may rapidly change in value or be lost entirely, which could result in significant harm or financial loss.
* No Liability: The Company does not own or control the underlying blockchain or Protocol, nor is it responsible for any risks related to their use. The User accepts that the Company cannot be held liable for any damages, losses, or harm incurred during the use of the Interface or any related blockchain interactions.
* Assumption of Risk: The User assumes full responsibility for all risks associated with accessing and using the Interface and interacting with any relevant Protocol, regardless of whether those risks are mentioned here or arise unexpectedly.

The User further waives and releases the Company from any liability, claims, or damages arising from the User’s use of the Interface and interactions with any relevant blockchain or protocol.

17\. Compliance.

The User acknowledges that the Interface may not be available or lawful in all jurisdictions. By accessing or using the Interface, the User takes full responsibility for ensuring compliance with the laws and regulations applicable in their jurisdiction. The User must not access or use the Interface if they are a citizen or resident of a jurisdiction subject to economic sanctions or where their use of the Interface would be illegal or violate any applicable laws.

The User is also solely responsible for any taxes, duties, or assessments imposed by any governmental authority in connection with their use of the Interface.

18\. Links from the Interface.

The Interface may include links to third-party websites, protocols, or resources. These links are provided solely for the User's convenience and may include advertisements or sponsored content. The Company has no control over these external resources and accepts no responsibility for the content, accuracy, or availability of such third-party sites, nor for any loss or damage resulting from the User's interaction with them. Accessing third-party websites or resources through links on the Interface is entirely at the User's own risk and subject to the terms and conditions of the respective websites.

19\. Indemnification.

The User agrees to indemnify, defend, and hold harmless the Company, its affiliates, licensors, agents, service providers, and their respective officers, directors, employees, contractors, agents, licensors, suppliers, successors, and assigns from any claims, liabilities, damages, judgments, awards, losses, costs, expenses, or fees (including reasonable attorneys’ fees) arising out of or related to:

* Violation of Terms: The User’s breach of these Terms of Use.
* Use of the Interface: The User's interaction with the Protocol or any reliance on the content, services, or products provided by the Interface.
* Reliance on Information: Any reliance the User places on information obtained from the Interface.
* Third-party Access: Any access or use of the Interface or Protocol by a third party with the User's assistance or via any device or account owned or controlled by the User.

20\. Enquiries.

Where any regulatory or government agency makes an enquiry which relates to any service or transaction carried out pursuant to this Terms of Use, the User agrees to co-operate with Quant.Fun in the provision of such information, and that any information relevant to the enquiry may be passed to any of QUANT.FUN’s nominees or Affiliates, the Custodian or any Infrastructure Participant, Network Participant or Government Agency, as appropriate.

21\. Termination.

Quant.Fun may terminate these Terms of Use and its provision of products or services to a User immediately upon the occurrence of any one or more of the following events:

* the occurrence of any Events of Default;
* where Quant.Fun reasonably suspects that the User’s wallet or account is used for market misconduct or any illegal, fraudulent, or unauthorised purpose, including but not limited to money laundering, terrorist financing, fraud or any other crime, or perceives a heightened risk of legal or regulatory non-compliance associated with the User’s activity;
* where Quant.Fun is required to do so by applicable law, or any court or authority to which Quant.Fun is subject in any jurisdiction;
* the User’s use of the Interface is subject to any pending, ongoing or threatened litigation, investigation, or judicial, governmental or regulatory proceedings;  or
* there is any other valid reason which requires Quant.Fun to do so.

“Events of Default” refers to where User is no longer eligible to use the Interface; or fails to duly and punctually observe or perform any of the undertakings, duties and obligations in these Terms of Use; or any dispute or proceedings against the User.

The User acknowledges and agrees that the events set out under this clause is a non-exhaustive list and Quant.Fun’s decision to take certain actions, including but not limited to termination, suspension, freeze funds or restriction to access, transact, or use the Interface may be based on confidential reasons that are essential to Quant.Fun's risk management, security or other compliance protocols.

22\. Governing Law and Dispute Resolution.

All matters related to the Interface and these Terms of Use, including any disputes or claims arising from or in connection with them, are governed by the laws of the United States of America.

Any dispute, controversy or claim arising out of or relating to this contract, or the breach, termination or invalidity thereof, shall be settled by arbitration in accordance with the United States Arbitration Rules.

This ensures that any disputes arising between the User and the Company will be addressed through arbitration rather than in a court of law.

23\. Limitation on Time to File Claims.

Any cause of action or claim that the User may have related to these Terms of Use or the use of the Interface must be initiated within one (1) year from the date the cause of action arises. Failure to file such a claim within this time period will result in the permanent barring of the claim.

24\. Injunctive Relief Waiver.

To the fullest extent permitted by applicable law, the User agrees that they will not be entitled to seek any form of injunctive or equitable relief, including any court orders or injunctions, in connection with their use of the Interface. This means that the User waives the right to any court action intended to compel or prohibit any specific action by the Company.

25\. Entire Agreement.

These Terms of Use, along with any documents expressly referenced or incorporated by reference, represent the entire agreement between the User and the Company regarding the Interface. This agreement supersedes any and all prior or contemporaneous agreements, understandings, representations, and warranties, whether oral or written, related to the Interface. This ensures that no external communications or representations modify or contradict the stated Terms.

\\

## Risk Warnings and Disclaimers Statement

Quant.Fun is powered by blockchain and smart contract technology operated in a decentralized environment and is not regulated by any authority. Please note that this Statement explains some principal risks but is not an exhaustive list of all possible risks. Before depositing into a vault, or otherwise entering into a transaction, you should therefore be satisfied that you fully understand the precise nature of the transaction, how it works, the extent of your exposure to risks and the potential losses that you could incur. You should also read the relevant product specific terms, including but not limited to the Terms of Use. This Statement also does not deal with issues of taxation or other legal consequences pertaining to any transactions which you may enter into.

General Risk

Subscribing for any Digital Asset related products or services involves a high degree of risk. The value of Digital Assets may not be backed or supported by any government. As such, Digital Assets may suffer significant volatility in value. If you wish to trade Digital Asset related products, you should carefully read and understand the nature, terms and risk of the relevant Products and carefully consider the risk exposure. You must have the financial ability, sophistication, experience, tolerance, and willingness to bear the risks of any Digital Asset related products or services, and a potential total loss of the underlying assets. Digital Asset products and services are not suitable for you. Before acquiring a Digital Asset product or service, please carefully review your financial situation, experience and objectives for engaging in the transaction, ability to bear risks and other relevant circumstances to determine whether such products or services is suitable for you. You should consult professional advisors (including legal, tax, financial and accounting) as may be appropriate. By entering into any Transaction, you agree that you assume all the risk of your Transactions and that we will not be responsible for any losses you may suffer.

Token Issuer Default Risks

Unless expressly stated otherwise, Quant.Fun does not issue Digital Assets. Digital Assets are issued by third parties. You should read the applicable terms, information and risk disclosures provided by the applicable issuers carefully before entering into any Transaction. You should note that the offering document or product information provided by the issuer have not been subject to scrutiny by any regulatory body. For any Digital Assets authorised by a regulator, you should note that authorisation does not imply any official recommendation or endorsement of the asset by such regulator, nor does it guarantee the commercial merits of such asset or its performance. In the event that a Digital Asset issuer becomes insolvent and defaults on their issued products, you will be considered as unsecured creditors and will have no preferential claims to any assets held by the issuer. You should therefore pay close attention to the financial strength and credit worthiness of the Digital Asset issuers and conduct their own assessment on the potential of their project. Since Digital Assets are not legal tender and Digital Asset products are not backed by assets or any government and authorities, in the event of issuer bankruptcy or ceasing of operations, their Digital Assets issued may no longer have any value and you can lose their entire investment. We make no representations or warranties about whether any Digital Asset underlying a vault on Quant.Fun will always continue to be traded. You should seek independent professional advice before making any investment decision.

Vault Diligence

We do not provide any guarantees or endorsements regarding any Vaults. The information provided on our website and/or our platform is for general information and education purposes only and we make no representations or warranties with respect to the accuracy or completeness of such information and it is not a recommendation to deposit into any Vault. You should not consider such information as investment advice. It is your responsibility to assess the quality, legitimacy and value of any Vault. We advise you to exercise caution and perform your own independent research and due diligence before engaging in any trading activities.

Liquidity and Conversion Risks

Where digital asset transactions are denominated in particular Digital Assets or fiat currencies (if and where applicable) other your primary reference asset, or where you convert Digital Assets upon carrying out a Transaction, there is a risk of the exchange markets moving against the investor, resulting in maturity or any earlier dealing the net proceeds may be significantly less than the initial amount in your primary reference asset, and any income or gains may be entirely negated. The value of a Digital Asset may be derived, among other things, from the continued willingness of market participants to exchange fiat currency (if and where applicable) for that Digital Asset, this means that the value of a particular Digital Asset may decline, or be completely and permanently lost should the market for that Digital Asset disappear. You should further note that there is no assurance that a market that existed for a particular Digital Asset will continue to exist in the future, or that a person who accepts a Digital Asset as payment today will continue to do so in the future. Liquidity risk is the risk of losses attributable to a lack of liquidity (for example very few active market participants) in a particular market. This is usually indicated by wide bid / offer spreads and very few transactions being carried out in a particular product or market. The risk is that changes in the underlying market price may be infrequent but very large, and that it is not possible to unwind or transfer a particular transaction in a timely manner, at near the price the investor had expected, or at all. Such liquidity risk in an asset may be caused by the absence of buyers, limited buy/sell activity or lack of or underdeveloped secondary markets for certain Digital Assets. You should note that there is no assurance that a person who accepts a Digital Asset as payment, will continue to do so in the future. You may also suffer loss as a result of depreciation of the value of the fiat currency (if and where applicable) paid as a result of foreign exchange controls imposed by the country issuing the foreign currency. Repayment or payment of amounts due to the investor may be delayed or prevented by exchange controls or other actions imposed by governmental or regulatory bodies over currencies which they control or regulate. Market risk Digital Asset trading venues are relatively new and, in most cases, largely unregulated. They are typically not subject to the same robust regulation as platforms in traditional financial markets, and are not typically required to protect customers to the same extent that regulated securities exchanges or futures exchanges are required. Digital asset platforms may therefore be more exposed to theft, fraud, failure, security breaches, market manipulation and insider dealing, compared to established, regulated exchanges for securities, derivatives and other currencies. In particular, some digital asset venues have collapsed or closed due to the above issues. As a result, the prices of Digital Assets may be subject to larger and/or more frequent sudden decline than assets traded on more traditional exchanges.

Market liquidity Risks

Due to market conditions or other circumstances, you may not be able to withdraw your holding in a Vault as quickly as you would like. If trading is suspended, the subscription and redemption of a Digital Asset may also be suspended. It may also be difficult or impossible to liquidate a position in Digital Assets under certain circumstances. Certain Airdrops, Forks or Network Events may occur rapidly and affect our ability to conduct a Transaction. Information relating to such events may be difficult to ascertain ahead of time and may be subject to limited oversight by any third party who is capable of intervening to stabilise the network. Quant.Fun is not liable for any loss that you may suffer to the extent that you cannot dispose of your holding due to issues arising from the market liquidity.

Volatility Risks

The volatility and unpredictability of the price of Digital Assets relative to other digital Assets or fiat currencies (if and where applicable) may result in significant losses over a short period of time. Such fluctuations could affect the price of any Digital Assets. Digital Assets may decrease in value or lose all of its value due to various factors including discovery of wrongful conduct, market manipulation on trading, lending or other dealing platforms, change to the nature or properties of the Digital Asset, governmental or regulatory activity, legislative changes, suspension or cessation of support for a Digital Assets or other exchanges or service providers, public opinions, or other factors outside of our control. Technical advancements, as well as broader economic and political factors, may cause the value of Digital Assets to change significantly over a short period of time. Digital Assets are highly risky and you should exercise caution when trading any Digital Assets.

Not a Bank Deposit under Applicable Laws

Any fiat currencies (if and where applicable) or Digital Assets held by us for your benefit are not held as “deposits” within the meaning of any Applicable Law and are not eligible for any public or private deposit insurance protection or other protection programmes of a similar nature. For the avoidance of doubt, Quant.Fun is not regulated by any authority.

Jurisdiction Risks

Residents, Tax residents or persons having a relevant connection with certain jurisdictions are excluded from carrying out Digital Asset transactions. Changes in the investor’s place of domicile or the Applicable Laws may result in the investor violating legal or regulatory requirements of the applicable jurisdiction. The investor is responsible for ensuring that any digital asset transaction is, and remains lawful despite changes to Applicable Laws, the investor’s jurisdiction of residence and circumstances.

Country Risks

If a Digital Asset transaction is made in respect of Digital Assets issued by a party subject to foreign laws or transactions made on markets in other jurisdictions, including markets formally linked to a domestic market, recovery of the sums invested and any profits or gains may be reduced, delayed or prevented by exchange controls, debt moratorium or other actions imposed by the government or other official bodies. Before conducting any Digital Asset transaction, the investor should satisfy himself/herself as to the sufficiency of his understanding of any rules or laws relevant to the particular Digital Asset transactions. You should note that their local regulatory authority will be unable to compel the enforcement of the rules of regulatory authorities or markets in other jurisdictions where the investor’s transactions have been effected. It is the sole responsibility of the investor to obtain independent advice about the different types of redress available in both the investor’s home jurisdiction and other relevant jurisdictions before starting to trade. If the investor’s jurisdiction of residence imposes restrictions on Digital Asset transactions, we may be required to discontinue your access , and may not be permitted to transfer any Digital Assets back to you or permit you to transfer Digital Assets to yourself or others, until such time as the regulatory environment permits us to do so.

Legal and Regulatory Risks

Legal and documentation risks include the risk that transactions and/or their related framework arrangements may not be legally enforceable or that the conduct of the parties violates applicable laws and regulations. You understand and acknowledge that the regulatory status of Digital Assets, Vaults and relevant products and services is currently unsettled, varies among jurisdictions and is subject to significant uncertainty. There is also legal uncertainty on whether Digital Assets can be regarded as “property” under the Applicable Laws. This may affect the nature and enforceability of your interest in such Digital Asset. Legislative and regulatory changes or actions relating to Digital Assets at a state or international level may adversely affect or restrict, as applicable, the use, transfer, exchange, and value of Digital Assets, as well as the provision of Quant.Fun’s services. You are solely responsible for knowing and understanding how the laws applicable to you or your property, rights or assets or tax the Digital Assets you trade, the Vaults you deposit in or the leverage you provide (if applicable).

Regulatory Measures

Digital Assets may be overseen by the legal and regulatory authorities of a number of jurisdictions globally. We may receive notices, queries, warnings, requests or rulings from one or more authorities upon short notice, or may even be ordered to suspend or terminate any action in connection with any Digital Assets as a whole without prior notice. Furthermore, many aspects of the Digital Assets involve untested areas of law and regulation, and could be subject to new laws or regulations. Therefore, their legal and regulatory outcome in all relevant jurisdictions is not possible to predict. The planning, development, marketing, promotion, execution or otherwise of the Digital Assets may be seriously affected, hindered, postponed or terminated as a result of such new laws and/or regulations. Since regulatory policies can change with or without prior notice, any existing regulatory permissions for or tolerance of Digital Assets in any jurisdiction may be withdrawn without warning. Cryptographic-tokens and cryptocurrencies could be deemed from time to time as a commodity or digital commodity, a digital asset or even as money, securities or currency in various jurisdictions and therefore the Digital Assets could be prohibited from being entered into, traded or held in certain jurisdictions pursuant to local regulations. In turn, the Digital Assets could be deemed to be a regulated or restricted product. There is no guarantee that the Digital Assets can maintain any particular legal or regulatory status in any particular jurisdiction at any time.

Digital Assets or Vaults may be Complex Products

Digital Assets or Vaults may be complex products by virtue that the terms, features and/or risk are not understood due to the complex structure, novelty and reliance on technological features. You should take steps to understand the nature of such complex products and the risks involved.

Commissions and Fees

The investor should obtain details of all fees, costs, charges, expenses and commissions updated from time to time for which he/she will be liable before conducting any Digital Asset transaction or subscripting into any Vault. If any of the foregoing is unclear to the investor, it is the responsibility of the investor to clarify such fees, costs, charges, expenses and commissions before entering into the Digital Asset transaction. The fees, costs, charges, expenses and commissions to be paid by the investor will vary depending on a variety of factors, including the nature of the investor’s relationship with Quant.Fun in relation to the relevant services, the transaction size, complexity and type of asset.

Tax Treatment and Accounting

Some Digital Asset transactions may be subject to the tax laws and regulations in an applicable jurisdiction. The tax treatment and accounting of Digital Assets is a largely untested area of law and practice that is subject to change. Tax treatment of Digital Assets may vary amongst jurisdictions. If you are unsure about the tax implications of your Digital Asset transactions, you should seek independent professional advice before carrying out a Digital Asset transaction.

Insolvency Risk

The insolvency or default of any exchanges or brokers involved with the Services and Products may lead to your trading positions being liquidated or closed out without your consent. In such circumstances where, for example, the exchange’s or broker’s assets are subject to insolvency proceedings, you may lose the assets that you have invested.

Conflicts of Interest

We or other Digital Asset trading service providers may be acting as agents for you as well as acting as principals against you. We or other relevant service providers may facilitate the initial distribution of Digital Assets (such as, initial coin offerings), secondary market trading, or both, in manners similar to a traditional exchange, alternative trading system or securities broker. If these operations are not under the purview of any regulator, it would be difficult to detect, monitor and manage conflicts of interest.

Money-laundering risk

Digital Assets are generally transacted or held on an anonymous basis. In particular, Digital Asset platforms which allow conversions between Digital Assets and fiat currencies (if and where applicable) are inherently susceptible to higher risks of money laundering and terrorist financing. Digital Asset investments may be the subject of law enforcement action as a result of criminal activities and you may not be able to recover any of their investments as a result.

Cryptographic Protection

Cryptography is evolving and there can be no guarantee of security at all times. Advancement in cryptography technologies and techniques, including but not limited to code cracking, the development of artificial intelligence and/or quantum computers, could be identified as risks to all cryptography-based and/or blockchain based systems including the underlying assets of the digital assets. The security of our platform cannot be guaranteed as the future of cryptography or security innovations is unpredictable.

Abandonment or Development Failure

Due to the technically complex nature of our platform, we could face difficulties from time to time that may be unforeseeable and/or unresolvable. Accordingly, the development of the platform could fail, terminate or be delayed at any time for any reason (including but not limited to a lack of funds).

Loss of Private Key is Permanent and Irreversible

You should note that the investor alone is responsible for securing his/her private key for any address with respect to Digital Assets. Any loss of control of the private key by the investor will permanently and irreversibly deny the investor access to such Digital Assets and a means of proving their ownership in the Digital Assets. Neither Quant.Fun nor any other person will be able to retrieve or protect the Digital Assets not held by Quant.Fun. Once lost, the investor will not be able to transfer such Digital Assets to any other address or wallet. This means that the investor will also not be able to realize any value or utility that the Digital Assets may hold now or in future.

Cyber-attacks and Fraudulent Activity, including Theft of Digital Assets

There may be attempts to steal Digital Assets on the platform. The nature of Digital Assets exposes the investor to an increased risk of fraud or cyber-attack. Quant.Fun’s platform and website may be targeted by malicious persons who may attempt to steal Digital Assets or fiat currencies (if and where applicable), or otherwise intervene in a Digital Asset transaction. This includes (but is not limited to) interventions by way of distributed denial of service, sybil attacks, phishing, social engineering, hacking, smurfing, malware, double spending, majority-mining, consensus-based or other mining attacks, misinformation campaigns; Forks; and spoofing. These malicious persons may target an investor in an attempt to steal any asset held by the investor, or to claim any asset that the investor may have purchased. This may involve unauthorised access to your wallet, log-in details or access method for your wallet, as well as unauthorised access to your computer, smartphone and any other devices. Your are solely responsible for protecting himself/herself against such actions. Quant.Fun’s platform and website may also be vulnerable to exploitation of vulnerabilities in smart contracts and other code, as well as to human error. Cyber-attacks resulting in the hacking of Digital Asset platforms and thefts of Digital Assets are common. Victims may have difficulty recovering any losses resulting from these attacks. This could result in significant loss and/or other impact that may materially affect an investor’s interests. The above events may affect the features, function, operation, use, access or other properties of the Digital Assets, your wallet, Quant.Fun’s platform and website.

Code Flaws

While we adopt quality assurance procedures to help ensure the source codes as accurately as possible reflect their intended operation, the flawlessness of the source codes, some of which are open source codes, cannot be guaranteed. They may contain bugs, defects, inconsistencies, flaws or errors, which may disable some functionality, create vulnerabilities or cause instability. Such flaws may compromise the predictability, usability, stability, and/or security of the platform. Open source codes rely on transparency to promote community-sourced identification and solution of problems within the code.

Unpermissioned, Decentralized and Autonomous Ledger

Quant.Fun’s platform is being developed to serve various distributed ledger systems which are unpermissioned protocols that could be accessed and used by anyone. In addition to the use of decentralized ledgers, we intend to make use of supporting technologies that also operate on decentralized ledgers. The utility and integrity of our platform relies on the stability, security and popularity of these decentralized ledgers. Risks arising from relying on such distributed ledger technology include the existence of technical flaws in the technology, targeting by malicious persons, majority-mining, consensus-based or other mining attacks, changes in the consensus protocol or algorithms, decreased community or miner support, rapid fluctuations in value of relevant digital assets, the existence or development of competing networks, platforms and assets, flaws in the scripting language, disputes between developers, miners and/or users and regulatory action. We are envisaged to be an open, decentralized community and its composition can include users, supporters, developers and other participants worldwide who may or may not be connected with us in any manner. The platform is intended to be decentralized and autonomous in nature as far as its maintenance, governance and evolution are concerned.

Compromised Security

We rely on open source software and unpermissioned decentralized distributed ledgers including but not limited to the Solana and Ethereum blockchain. Accordingly, anyone may intentionally or unintentionally compromise the core infrastructural elements of our platform and its underlying technologies. This may consequently result in the loss of any Digital Assets held on the platform and may cause our system to fall.

Inadequacy of Network

The ramp up of the platform may be accompanied by sharp increases in transaction numbers and demand for processing power. If the demand for processing power outgrows that forecasted, the network of the platform could be destabilized and/or stagnated. This may create opportunities for fraudulent activities including but not limited to false or unauthorized transactions (such as "double-spending") to arise. All these may adversely impact the usability, stability and security of the platform.

Reliance on the Internet and Other and Technology-related Risks

Operation of Quant.Fun’s Vaults and Digital Asset transactions rely heavily on the internet and other technologies. However, the public nature of the internet means that either parts of the internet or the entire internet may be unreliable or unavailable at any given time. Further, interruption, delay, corruption or loss of data, the loss of confidentiality in the transmission of data, or the transmission of malware may occur when transmitting data via the internet and/or other technologies. The result of the above may be that your Digital Asset transaction is not executed according to your Instructions, at the desired time, or not at all. No authentication, verification or computer security technology is completely secure or safe. The internet or other electronic media (including without limitation electronic devices, services of third-party telecom service providers such as mobile phones or other handheld trading devices) are an inherently unreliable form of communication, and such unreliability may be beyond Quant.Fun’s control. Any information (including any document) transmitted, or communication or transactions made, over the internet or through other electronic media (including electronic devices, services of third party telecommunication service providers such as mobile phones or other handheld trading devices or interactive voice response systems) may be subject to interruption, transmission blackout, delayed transmission due to data volume, internet traffic, market volatility or incorrect data transmission (including incorrect price quotation) or stoppage of price data feed due to the public nature of the internet or other electronic media.

Past Performance and Indicated Returns not Indicative

You acknowledge and agree that the past performance of any Quant.Fun’s Vaults, or otherwise any of Quant.Fun’s Products or Services, is not an indication of future performance. In providing the Services and Products, Quant.Fun does not guarantee the performance of any Services or Product and does not provide any financial or legal advice to you. Any indicated potential returns are subject to change at any time without notice due to fluctuations in market conditions, regulatory changes, or other unforeseen events. You are solely responsible for determining the suitability of the Services or Product for you.

Transactions Deemed Executed Only when Recorded or Confirmed

Some Digital Asset transactions may be deemed to be executed only when recorded and confirmed, which may not necessarily be the time at which you initiate the transaction.

Irreversible Transactions

Transactions in Digital Assets may be irreversible, and, accordingly, losses due to fraudulent or accidental transactions may not be recoverable. You should note that once a transaction has been verified and recorded on a blockchain, loss or stolen Digital Assets generally will not be reversible. This means accidental or fraudulent transactions in respect of Digital Assets may not be recoverable.

Counterparty Risk

Most trading, lending or other dealing platforms, custodians of Digital Assets or other Digital Asset service providers are private companies which may be unregulated or only subject to light-touch regulation (e.g. for payment purposes). As such, they may not be subject to the same robust regulation and transparent rules as service providers or products in traditional financial markets, posing additional counterparty risks for Digital Asset related products, and may be exposed to market manipulative and abusive activities. There is a risk that these counterparties may become insolvent.

DISCLAIMER OF WARRANTIES

TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, QUANT.FUN, ITS VAULTS, AND ITS WEBSITE ARE PROVIDED ON AN “AS IS” AND “AS AVAILABLE” BASIS WITHOUT ANY WARRANTY OF ANY KIND, AND QUANT.FUN HEREBY SPECIFICALLY DISCLAIMS ALL WARRANTIES WITH RESPECT TO ITS PRODUCTS AND SERVICES, WHETHER EXPRESS, IMPLIED, OR STATUTORY, INCLUDING THE IMPLIED WARRANTIES AND/OR CONDITIONS OF TITLE, MERCHANTABILITY, SATISFACTORY QUALITY, FITNESS FOR A PARTICULAR PURPOSE, AND/OR NON-INFRINGEMENT. QUANT.FUN DOES NOT WARRANT THAT ITS PRODUCTS AND SERVICES, INCLUDING ACCESS TO AND USE OF ITS WEBSITE, WILL BE CONTINUOUS, UNINTERRUPTED, TIMELY, COMPATIBLE WITH ANY SOFTWARE, SYSTEM, OR OTHER SERVICES, SECURE, COMPLETE, FREE OF HARMFUL CODE, OR ERROR-FREE. NO ADDITIONAL DUTIES SHALL BE IMPLIED. TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, QUANT.FUN SHALL NOT ASSUME ANY FIDUCIARY DUTY OR OBLIGATION TO USERS.
