This Risk Disclosure Statement is a part of and to be read in conjunction with the
Substake Terms of Service. Capitalised terms used in this Risk Disclosure Statement
shall have the meanings assigned to them in the Substake Terms of Service.
Substake App is in its Beta Stage
Substake App is in its beta stage, which means that the Substake App and all related
software, including blockchain software and smart-contracts, are experimental. Substake
App is provided on an “as is” and “as available” basis, without warranty of any kind,
either expressed or implied, including, without limitation, warranties that the Substake
App or any related software are free of defects, vulnerabilities, merchantable, fit for
a particular purpose or non-infringing. Risk of Software Weaknesses Although we make
reasonable efforts to ensure that the Substake App and related software follow the
high-security standards, we do not warrant or represent that the Substake App or any
related software are secure or safe, or protected from fishing, malware or other
malicious attacks. Further, the Substake App and related software may contain
weaknesses, bugs, vulnerabilities, viruses or other defects which may have a material
adverse effect on the operation thereof, or may lead to losses and damages for you,
other users of Substake App, or third persons.
Risk Inherent in the Underlying Blockchain Networks
Substake App interacts with the Protocol deployed on the Ethereum Virtual
Machine-compatible blockchain network(s). As a result, any malfunction, breakdown or
abandonment of such blockchain(s) may have a material adverse effect on the Substake App
and Protocol. Moreover, advances in cryptography, or technical advances such as the
development of quantum computing, could present risks to the Substake App and related
blockchain software by rendering ineffective the cryptographic consensus mechanism that
underpins the blockchain. The smart-contract concept, the underlying software and
software platforms, including the blockchain networks, are still in an early development
stage and unproven. Although it is very unlikely, the blockchain, as well as any other
blockchain, can be attacked which may result in downtime, consensus split, long
reorganisation of the chain, 51 percent attack, or other adverse outcomes each of which
may lead to complete loss of your assets implemented on such blockchain network.
Risk Inherent in the Protocol
Substake App interacts with the Protocol and when using the Substake App you may be
exposed to certain risks related to the operation and functioning of the Protocol. The
Protocol is complex, the majority of its components and functional elements are risky
and experimental. You should not use or interact with the Protocol unless you fully
understand how it works and the consequences of transactions carried out with the use of
the Protocol. Substake App derives information from the Protocol, related software and
underlying blockchain network(s) in an automated manner, which means that such
information is not verified. As a result, such information may not be true, complete,
timely, accurate, or sufficient. Furthermore, certain functions within the Protocol may
be executed by third parties that may not act in a timely or reliable manner, or as
expected or intended, or may fail to act, which can lead to partial or complete loss of
your digital assets. Risk of Flawed Logic of Substake App The underlying logic of the
Substake App and related software may be flawed, defective or impaired, which can result
in smart-contracts operating incorrectly or not as expected, or transactions being
executed in violation of logic which underpins the smart-contracts, which can lead to
partial or complete loss of digital assets used in the transaction. Risk of Confusing
User Interface Certain user interface elements or design decisions of the Substake App
can be confusing or mislead you, which may result in the execution of a different action
or transaction than intended or desired, or connection of a wrong digital wallet,
account or network.
Risk of Legal Uncertainty
Just like any other business, the intended activities of Substake may be subject to
various laws and regulations in the countries where it operates or intends to operate.
We might be obliged to obtain different licenses or other permissive documents in some
or all jurisdictions where we intend to operate our business, therefore, our business in
such jurisdictions shall always be subject to obtaining such licenses or permissive
documents, if so directed by applicable laws. Furthermore, regulatory actions, orders or
inquiries may adversely affect the Substake App and Substake, or impair our ability to
make the Substake App available. Additionally, changes in applicable laws or regulations
or evolving interpretations of existing law could, in certain circumstances, result in
increased compliance costs or capital expenditures, which could affect our ability to
carry on the business model and develop the Substake App and related software.
Risk of Theft
We make a commercially reasonable effort to ensure that any transactions carried out via
the Substake App are secure. Notwithstanding the aforesaid, there is no assurance that
there will be no theft of the digital assets as a result of hacks, sophisticated
cyber-attacks, distributed denials of service or errors, double-spent attacks,
flash-loan attacks, vulnerabilities or defects of the Substake App or related software,
the Ethereum blockchain network or any other blockchain network, or otherwise. Such
events may include, for example, flaws in programming or source code leading to
exploitation or abuse thereof. Any of the above may lead to partial or complete theft or
loss of digital assets used in transactions carried out through the Substake App or with
the use of related software.
Risk statement for first-time interaction
By accessing or using Substake App, I agree to the Terms of Service (
https://substake.fi/terms) and
confirm that I have read and understood the Privacy Notice (
https://substake.fi/privacy)
and Risk Disclosure Statement (
https://substake.fi/risks).
I hereby further represent and warrant that: - I’m not a resident of or located in the
United States of America (including its territories: American Samoa, Guam, Puerto Rico,
the Northern Mariana Islands and the U.S. Virgin Islands) or any other Restricted
Jurisdiction (as defined in the Terms of Service); - I’m not a Prohibited Person (as
defined in the Terms of Service) nor acting on behalf of a Prohibited Person; - I
acknowledge that Substake App and related software are experimental, and that the use of
experimental software may result in complete loss of my funds.
