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IMPORTANT NOTICE

 

 The LODE Protocol (“LODE”) is an open-source internet-based distributed ledger and computing platform composed of various and evolving components contributed by a wide variety of participants and professional Service Providers. LODE is built by LODE (Switzerland) AG (“LSA”) and the Service Providers Alliance, which is fueled by LODE Token. LODE continues to grow and change through the efforts of its community. Accessing the utility functions of the LODE Protocol is achieved by holding and utilizing the LODE Token.  The maximum number of LODE Tokens that can be issued is 77,000,000. The LODE Token was fully issued by LODE GmbH, a subsidiary of LSA, under its Tied Agent arrangement. 

LSA together with its subsidiaries and affiliates, is an active member of that community, both directly and indirectly, through its seed, and investment programs, as well as various Service Providers. LSA contributes to the continuing development, implementation, and maintenance of LODE and the LODE Community by funding, publicizing and otherwise encouraging the following, among other activities:

  • developing and implementing different types of software, such as smart contracts and dApps, access to card infrastructure, decentralized exchanges, swaps/moves, subnets, APIs, utilities and upgrades, bridges to other blockchains and wallet connecting software, and helping others to do the same;

  • the network utilizes and operates on one or more nodes/validators;
  • creating written, video, and other content on websites, various social media platforms and elsewhere; and
  • generally being an overall resource to the community in a variety of other ways.

LODE is a nonprofit, but some of its activities may generate inflows which are distributed into liquidity pools via the LODE Token smart contract infrastructure for the benefit of the LODE Token Holders and the Service Provider Alliance.  LODE has deployed a Fee Collector as a pool smart contract that enables collection of resources from several profit centers and distributes the fees as “pool reflections” to Service Providers, Vaults and LODE Token holders.

LSA, as well as its Service Providers and other people and organizations associated with it, may give, receive, lend, borrow, purchase, and sell LODE Tokens and various other crypto assets (whether fungible or nonfungible tokens) created on, or associated with LODE and the smart contracts and dApps that are used by LODE. Such transactions and transfers may occur as private peer-to-peer sales, and in open market transactions via “Dutch Auctions” and/or decentralized exchanges (DEXs) and other means. LODE may offer or receive preferential pricing in certain transactions, usually based on volume.

All of the above software, content and activities are referred to in this Notice as LODE’s “Software, Content, and Activities.” Sometimes LODE collects fees in connection with its Software, Content, and Activities, while other times it does not.

Unless specified otherwise, LSA makes no representation, warranty, guarantee, or undertaking in respect to LODE or any of its Software, Content, and Activities, whether expressed or implied, including but not limited to the warranties of compliance, accuracy, reliability, validity, merchantability, fitness for a particular purpose, quality, availability, durability, and noninfringement, or as to any of it being uninterrupted, error free, free of harmful components, or secure. Neither LSA nor its Service Providers are liable for, or in connection with any actions, proceedings, claims, damages, expenses, or other liabilities, whether in an action of contract, tort or otherwise, arising from, related to or in connection with the LODE or its Software, Content, and Activities or the use or other dealings in or with any of them or reliance thereon.

To avoid confusion on the part of those interacting with LODE, it is important for the general public to understand the following:

  • The LODE Protocol is a decentralized, permissionless platform. It has no single source of truth, no single point of failure, and no person or authority that alone has the ability or power to make changes to the data, software or smart contracts that are part of the blockchain or to admit users. LODE has no greater inherent power than any other participant to add to, alter, or otherwise interfere with a public blockchain. LODE does not control it or have the ability to change data, transfers, or anything else recorded to the blockchain. The same holds true for any subnets and side chains.
  • When you use the LODE Protocol, it is entirely at your own risk.

  • It is recommended that you do your own research before using or engaging with the LODE Protocol, LODE’s Software, Content, and Activities and/or any third-party subnets or Web3 wallets Read wisely. Stay on top of updates and developments.

  • Unless LSA informs you otherwise in writing, it is not responsible for, and makes no representations or warranties regarding, the LODE Protocol, its functioning, any activities, or transactions conducted or smart contracts operating on it or any software associated with it (whether or not it is LODE’s Software, Content, and Activities).
  • LODE attempts to comply with applicable laws, rules, and contractual obligations with respect to all of its Software, Content, and Activities. However, that landscape is constantly changing and differs jurisdiction by jurisdiction. It is your responsibility to conduct your own inquiry to ensure that your activity as it relates to the LODE Protocol complies with all applicable laws, rules, and contractual obligations.
  • Among other things, you will need to comply with all terms and conditions, software licenses, specifications and programming associated with anything you use.
  • You alone are responsible for your LODE non-custodial blockchain wallet’s private/secret keys and seed phrases. Please be sure to avoid losing them or sharing them with anyone else. Once lost, there is nothing that can be done to recover access to your blockchain wallet and/or digital assets.
  • Any time LODE links to, quotes or otherwise references a third party, or reproduces or incorporates their information, content, or materials, it is solely for informational purposes, and LODE has not verified its accuracy.
  • LSA cannot stress this enough: be careful and always do your own due diligence before engaging with the LODE Protocol and all its components, smart contracts, dApps, subnets and utilities, regardless of who built or implemented them, including but not limited to any wallets used in connection with it. In other words, be curious and cautious. Do your homework, and don’t assume that something is correct or will function a certain way without verifying it first.
  • When LSA talks about future ideas or prospects, it is expressing its vision and hopes, and there is no commitment or guarantee that it will come true, that it will be implemented, or that it will work. The world changes quickly. Technology changes at the speed of business, and LSA cannot predict how things will turn out, and its aspirations and predictions may be unreliable. Look carefully at all communications, software updates and software versions and the dates associated with them to ensure that you are using the most up-to-date software.