Welcome to the Sovryn app (www.sovryn.app), a website-hosted user interface (the "App") developed by the Sovryn Community ("Sovryn", “we”, “our”, or “us”). The App provides information and access to the Sovryn Network, a platform for lending, borrowing, and trading crypto currencies (the “Platform”). The Platform is solely owned and fully controlled by an on-chain fully decentralized, community governed protocol deployed on the RSK blockchain (a Bitcoin side chain) (the “Protocol”, the "DAO"). 

These Terms of Use and any terms and conditions incorporated herein by reference (collectively, the “Terms”) govern your access and use of the App. You ("User" or "You") must read the Terms carefully. By accessing or using our App, you agree that you have read, understood, and agreed to these Terms. If you do not agree to these Terms, you must not use our App. 

When using or accessing our App, you will also be subject to our Privacy Policy, which describes how we collect and use your personal information. We encourage you to carefully review those policies before accessing our App.

2.1 NON-CUSTODIAL AND DECENTRALIZED

The DAO is a decentralized autonomous organization, in which each staker has voting rights to participate in decisions that determine the course of platform development. Further information regarding the Protocol's operation can be found in the Black Paper, and Sovryn Wiki.

It is important to understand that neither we nor any affiliated entity is a party to any transaction on the blockchain networks underlying the Protocol. We do not have possession, custody, or control over any cryptoassets appearing on the App or the Platform, and we do not have possession, custody, or control over any user's funds. Further, we do not store, send, or receive any cryptoassets. When you interact with any of the Protocol's smart contracts, you retain control over your cryptoassets at all times. We are not intermediaries, agents, advisors, or custodians, and we do not have a fiduciary relationship or obligation to you regarding any other decisions or activities that you affect when using the App. You acknowledge that we, for the avoidance of doubt, do not have any information regarding any users, users’ identities, or services beyond what is available or obtainable publicly via the blockchain. We are not responsible for any activities you engage in when using the App, and you should understand the risks associated with cryptoassets, blockchain technology, the App and the Platform. All community contributors to the ecosystem around the Protocol are independent of us, and we will not have and do not assume any liability or responsibility for their actions or omissions.‍

2.2 FEATURES

The Platform consists of various features and services, allowing users: (i) Bitcoin lending, borrowing, and margin trading from automatic lending pools; (ii) spot exchange between crypto currencies tokens; (iii) FastBTC relay, allowing almost instant bi-directionally exchange between Bitcoin and RBTC; (iv) token bridge between RSK, Ethereum and BSC; (v) perpetual swaps; (vi) purchase, sell, trade, of Bitcoin-backed USD-pegged stablecoin; (vii) SOV staking for fee sharing, voting power, platform rewards, and airdrops.

2.3 DEPLOYED ON RSK BLOCKCHAIN

The Platform is deployed on the RSK blockchain software and network. The RSK blockchain software and network is open source, which means that anyone can use, utilize, and build on top of it. Using the App to access the Platform, you acknowledge and agree (i) that we are not responsible for the operation of the blockchain-based software and network underlying the Protocol; (ii) that there exists no guarantee of the functionality, security, or availability of that software and network; and (iii) that the underlying blockchain-based network is subject to sudden changes in operating rules, such as those commonly referred to as "forks". 

The native token of RSK is RBTC, an exact 1:1 BTC peg. When you transfer bitcoin into RSK, your bitcoin is locked and the equivalent amount is released as RBTC on RSK, which gives you access to the Platform's features and services. In addition, all fees are paid in RBTC, so you don't need a separate asset just for transaction fees.

2.4 RSK EXCHANGE PROTOCOL

The Platform enables Users to trade, lend and borrow on an external exchange protocol, RSK ("Exchange Protocol"). When using the Exchange Protocol, you hereby agree to any and all acknowledgments, representations, and warranties described in these Terms and any other related document. Additionally, you (i) acknowledge that transactions on the Platform and the Exchange Protocol are subject to fees; (ii) represent and warrant that you shall pay any applicable fees in accordance with these Terms and any other relevant document; (iii) represent and warrant that you understand that there are considerable risks involved in the activities performed on the Exchange Protocol, including, without limitation, risks relating to the fluctuations of the staked funds, liquidity, operational, regulatory and technical risks. You shall carefully consider and exercise clear judgment to evaluate your financial situation and the aforesaid risks to make any decision on using the Exchange Protocol, as well as any other portion of our Platform, and you shall be responsible for all losses arising therefrom; and (iv) the Exchange Protocol is not operated by Sovryn and Sovryn has no responsibility and liability with respect to your use of the Exchange Protocol.

Please note that operators of the Exchange Protocol may apply additional terms to your access and use of the Exchange Protocol. 

2.5 ANONYMITY 

By using the App and the Platform, you acknowledge that your public key and your wallet address are visible to anyone and can be linked back to you. 

2.6 PRIVATE KEYS

The private key associated with the wallet address from which you transfer cryptoassets, or the private key associated, is the only private key that can control the cryptoassets you transfer into the smart contracts. You alone are responsible for securing your private keys. We do not have access to your private keys due to the non-custodial and decentralized nature of the technology.

2.7 WALLET

In order to use the Platform, you will be required to connect your web wallet ("Wallet"). Your trades and transactions on the Platform will be executed through funds held independently by you in your Wallet. 

Sovryn does not provide a Wallet of any kind and does not control your funds or your private keys to the Wallet. Additionally, we do not own or control the code or the underlying protocols for your Wallet, or the networks of the crypto assets in your Wallet, and we assume no responsibility for any losses or damages you may incur from using the Wallet, or purchasing, holding, staking or selling crypto assets, including loss or theft of access credentials, liquidity risks, operational or cyber risks or changes in protocol rules ("forks"). 

By accessing the Platform through our App, you represent and warrant that (i) as an individual, you are at least 18 or are of legal age; (ii) as an individual, legal person, or other organization, you have full legal capacity and sufficient authorisations to use the App and the Platform; (iii) you have not been previously suspended or removed from using the Platform; (iv) your use of the Platform will not violate any and all laws and regulations applicable to you, including, but not limited to, regulations on financial crime, anti-money laundering, anti-corruption, anti-fraud, counter-terrorist financing, sanctions regulations (for example, the Office of Foreign Assets Control ("OFAC"), or the European Union Sanction List, or the Specially Designated Nationals and Blocked Persons List ("SDN List")), and tax laws; (v) your use will not infringe on any intellectual property or other third-party right; (vi) you will not introduce any malware, virus or other harmful material; and (vii) YOUR FUNDS COME FROM LEGITIMATE SOURCES AND DO NOT ORIGINATE FROM ILLEGAL ACTIVITIES.

4.1 FEES AND TAXES

Your use of the Platform and trading, lending, or borrowing of crypto assets may be subject to applicable taxes, levies, duties, or similar governmental assessments. It is your sole responsibility to determine whether, and to what extent, any taxes apply to any transfer and to withhold, collect, report and remit the correct amount of tax to the appropriate tax authorities.

Trading of crypto assets may also be subject to platform fees, developers' fees, RSK Exchange Protocol fees, and network fees (including gas and mining fees), for which you will be solely responsible. All fees will be automatically deducted from the smart contract. All fees are paid in RBTC, so you don't need a separate asset just for transaction fees.

4.2 LICENSE

Subject to these Terms, Sovryn grants you a personal, non-exclusive, non-assignable, and non-transferable license to use and display the App provided by Sovryn only for the purpose of receiving information and accessing the Platform. Unauthorized copying of the Platform, including, without limitation, software that has been modified, merged, or included with the Platform, is expressly forbidden. You may not: (i) sublicense, assign or transfer this license except as permitted in writing by Sovryn; (ii) copy, duplicate or reverse-engineer any part of the Platform. Any attempt of (i)-(ii) above may result in the termination of this license.

4.3 REPRESENTATIONS 

With respect to your use of the Platform, You hereby represent and warrant that you understand that (i) Sovryn is not an investment advisory service, nor is it a registered investment advisor or broker-dealer and does not purport to tell or suggest the value of any assets or which assets customers should buy or sell for themselves, or to the desirability of lending, borrowing or otherwise using the Platform's features and services; (ii) Sovryn assumes no responsibility or liability for your lending, borrowing, trading and investing results.

BEFORE MAKING ANY TRANSACTION THROUGH THE PLATFORM, YOU SHOULD ALWAYS CHECK WITH YOUR LICENSED FINANCIAL ADVISOR AND TAX ADVISOR TO DETERMINE THE SUITABILITY OF ANY TRANSACTION. EVERY TIME YOU USE THE PLATFORM YOU AGREE THAT IN ALL CASES THE APP BEARS NO RESPONSIBILITY FOR LOSSES INCURRED.

4.4 RISK DISCLOSURE 

Transactions on the Protocol rely on smart contracts, cryptographic tokens generated by the smart contracts, and other nascent software, applications, and systems that interact with blockchain-based networks. These technologies are experimental, speculative, inherently risky, and subject to change. These risks include, without limitation:

You acknowledge and agree that your use of the Platform involves those risks and Sovryn shall not have any liability for any losses incurred for such uses.

You agree to the automated collection and disbursement of proceeds by smart contracts. You acknowledge and agree that all transactions accessed through the Platform will be automatically processed using one or more blockchain-based smart contracts. By engaging in transactions using the Platform, you acknowledge and consent to the automatic processing of all transactions in connection with using the Platform. You further acknowledge and agree that the applicable smart contract will dictate how the funds of a transaction and ownership of cryptoassets are distributed.

You are solely responsible for the security of your Wallet. You understand and agree that you are solely responsible for maintaining the security of your Wallet. Any unauthorized access to your Wallet by third parties could result in the loss or theft of any cryptoasset, or any funds held in your account and any associated accounts. You understand and agree that we have no involvement, and you will not hold us responsible for managing and maintaining the security of your Wallet. You further understand and agree that we are not responsible, and you will not hold us accountable, for any unauthorized access to your Wallet.

For any part of the Platform that is identified by us as a “beta” version (“Beta Service"), you acknowledge and agree that a Beta Service may contain more or fewer features than the final release of that service. We reserve rights not to release a final release of a Beta Service or to alter any such Beta Services' features, specifications, capabilities, functions, licensing terms, release dates, general availability, or other characteristics. Beta Services may not be suitable for production use and may contain errors affecting proper operation and functionality.

6.1 TRADEMARKS AND COPYRIGHTS 

The brand names relating to the App and any other trademarks, service marks, trade names, cryptocurrencies' names, used by Sovryn or on its own behalf from time to time (“Trademarks”) are the trademarks, service marks, and trade names of Sovryn and its reserve all rights to such Trademarks. 

Unless otherwise provided, Sovryn owns the rights to all the creative works available via the App, including but not limited to the information, images, pictures, graphics, photographs, animations, videos, music, audio, and text. This content is protected by copyright.

6.2 OWNERSHIP OF YOUR CONTENT 

When using our App, you may upload information which may include texts, photos, videos, images, trademarks, logos, brands, or other materials ("Uploaded Materials"). We do not claim ownership of that information. However, when you do so unless explicitly stated in writing otherwise, you grant Sovryn a worldwide, non-exclusive, royalty-free, ongoing, assignable, and transferable right and license to use, copy, reproduce, process, adapt, modify, translate, publish, transmit, display and distribute such Uploaded Materials. For the avoidance of doubt, you waive in favor of Sovryn any moral right you may have in the Uploaded Materials, including any right of attribution.

6.3 COPYRIGHT CLAIMS

If you believe that any material on the App infringes upon any copyright which you own or control, you may send a written notification of such infringement to             .

To be effective, and to meet the requirements of applicable laws, the notification must be in writing and contain the following information:

If content you uploaded to the App was removed, but you believe that this content is not infringing, or that you have the authorization from the copyright owner, the copyright owner's agent, or pursuant to the law, to upload and use the content, you may send us a written counter-notice, to the aforementioned address, containing the following information:

6.4 REPEAT INFRINGERS 

In accordance with the applicable law, we may terminate, in appropriate circumstances and at our sole discretion, the provision of our Platform to Users who are deemed to be repeat infringers. We may also, at our sole discretion, limit or terminate the access to our Platform for Users who infringe any intellectual property rights of others, whether or not there is any repeat infringement.

7.1 GENERAL

The App contains content such as code, data, software, applications, graphics, images, links, text, photos, videos, and other materials uploaded by third parties ("Third Party Content"). Unless otherwise provided, such Third Party Content is not investigated, monitored, or checked for accuracy, appropriateness, completeness, or reliability by us. We have no control over Third Party Content posted or uploaded to the Platform and hereby disclaim any and all liability in this regard. 

7.2 CONTENT GOVERNANCE 

Intellectual property: When you upload, post or transmit content through the App, or the Platform, you expressly warrant and agree not to upload any content that you do not have the right to share or that you suspect may infringe others' intellectual property rights. In particular, you warrant and represent that you have the right to grant the licenses granted herein and that you shall not use the Platform in such a manner as may infringe the rights of any third party, including intellectual property rights. If you suspect that content posted by someone else on our Platform infringes your intellectual property rights, we encourage you to try communicating with that person, asking him or her to take it down. If that does not work, you can contact us through the contact information aforementioned.

No financial advice: any content that you upload must not provide investment advice, portfolio management services, or any other type of service which requires you to be authorized by a regulatory authority;

Privacy: Please note that any content that you upload to the Platform is publicly available and will be seen by the other users. Therefore, you should refrain from posing or uploading any personal information to the platform. In this regard, personal information means any information that can lead to the identification of yourself or others, such as your name, phone number, ID number, address, and financial information.

Impersonation: You hereby acknowledge and agree that you will not impersonate anyone else, or deceive others to believe you are anyone else, for any purpose.

Appropriateness and lawfulness: you hereby represent and warrant that you will not upload, post, or otherwise transmit to the App or Platform, when accessing through our App, any content that is unlawful, malicious, harmful, inappropriate, offensive, or disrespectful. This includes, without limitation, content that (i) violates any applicable law, regulation or Sovryn's policies and terms; (ii) infringes on any intellectual property or other third-party right; (iii) that introduces any malware, virus or other harmful material; (iv) uses any crawls, scraping, spiders or similar automated means to extract data from the Platform; relates to drugs, narcotics, steroids, and any other similar product that is illegal or prohibited; (iv) that promotes or supports groups, militias, or gangs; (v) supports or involves hate, violence, harassment, bullying, discrimination, or terrorism; (vi) involves a threat to an individual or public safety; (vii) involves pornography or any sexual content; (viii) is designed to spam or flood the channel with the same message repeatedly being posted; (ix) discussing suicide, including content promoting or glorifying suicide or providing instructions on how to self-harm; (x) involves accusations of abuse or cheating (if you believe someone needs to be investigated, please report on that user and we will investigate your report as soon as practicable and take actions, if needed); (xi) based on Sovryn's sole discretion, is inappropriate, offensive, or otherwise should not be uploaded to the Platform. Content about any of the above that is disguised with the use of numbers, letters, or symbols is prohibited, too. 

If you have identified content that violates this subsection, please let contact us.

You are solely responsible for your interactions with other Users. Sovryn reserves the right but has no obligation, to monitor disputes between you and other Users.

You agree not to engage in, or attempt to engage in, any of the following categories of prohibited acts in relation to your access or use of the Platform: 

You agree to defend, indemnify, and hold Sovryn, and each of their developers, agents, contractors, partners, or any other affiliation harmless from and against any loss, liability, claim, demand, damages, costs, and expenses, arising out of or in connection with: (a) your access and use of the Platform through our App; (b) your violation of the Terms, the rights of any third party, or any other applicable law, rule, or regulation; and (c) any other party’s access and use of the Platform through our App with your assistance or using any device or account that you own or control.

Under no circumstances whatsoever will Sovryn be liable in any way for any content that Users share, publish, display, or transmit with the Platform, including, without limitation, for any infringement of a third party's right, loss, or damage of any kind incurred as a result of the use or display or performance of any third party content transmitted, displayed or otherwise made available through the Platform.

You agree that you are free to choose whether to use the Platform and do so at your sole option, discretion, and risk.

TO THE EXTENT NOT PROHIBITED BY LAW, IN NO EVENT SHALL SOVRYN BE LIABLE FOR PERSONAL INJURY OR ANY INCIDENTAL, SPECIAL, INDIRECT, OR CONSEQUENTIAL DAMAGES WHATSOEVER, INCLUDING, WITHOUT LIMITATION, DAMAGES FOR LOSS OF PROFITS, LOSS OF DATA, BUSINESS INTERRUPTION, OR ANY OTHER COMMERCIAL DAMAGES OR LOSSES, ARISING OUT OF OR RELATED TO YOUR USE OR INABILITY TO USE OUR APP, OR THE PLATFORM ACCESSED THROUGH OUR AP, HOWEVER, CAUSED, REGARDLESS OF THE THEORY OF LIABILITY (CONTRACT, TORT, OR OTHERWISE) AND EVEN IF SOVRYN HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. SOME JURISDICTIONS DO NOT ALLOW THE LIMITATION OF LIABILITY FOR PERSONAL INJURY, OR INCIDENTAL OR CONSEQUENTIAL DAMAGES, SO THIS LIMITATION MAY NOT APPLY TO YOU. IN NO EVENT SHALL SOVRYN'S TOTAL LIABILITY TO YOU FOR ALL DAMAGES (OTHER THAN AS MAY BE REQUIRED BY APPLICABLE LAW IN CASES INVOLVING PERSONAL INJURY) EXCEED THE AMOUNT OF FIFTY DOLLARS ($50.00). THE FOREGOING LIMITATIONS WILL APPLY EVEN IF THE ABOVE STATED REMEDY FAILS IN ITS ESSENTIAL PURPOSE.

We reserve the right to change these Terms at any time, without prior notice by posting the revised version of the Terms on the App. If a revision to the Terms is material, Sovryn will take notice of such revision on the App. The revised Terms will take effect immediately upon publication by the Sovryn with effect from the revision date noted at the heading of the Terms. If a User does not agree to the revised Terms, he or she should discontinue the use of our Platform.

14.1 GENERAL

We may terminate your access to, or use of, the App, at any time, without prior notice, at our sole discretion, with or without cause, and without incurring any liability. 

The provisions entitled Indemnity, No Warranty, Limitation of liability, Governing Jurisdiction, General, and Disputes shall survive any expiration or termination of these Terms. 

If you have any questions, concerns, or complaints in relation to these Terms or our App, please contact us.