Last updated: January 26, 2022
This Legal Notice and Risk Disclosure Statement (the “Notice”) is provided by Pool Party (collectively with its affiliates, “we”, “our”, “us” or “Pool Party”). Any statements and representations made by Pool Party or on its behalf shall be subject to this Notice. Please read this Notice carefully before using or interacting with the Pool Party platform or Pool Party protocol. Pool Party platform (the “Pool Party platform”) is a web-based user interface to the Pool Party protocol - a decentralised autonomous smart-contract system implemented on the NEAR blockchain, and other blockchain networks on which Pool Party protocol can be implemented from time to time (the “Pool Party protocol”). Pool Party platform can be accessed through the respective subdomains of our Website, as defined below, such as, for example, https://poolparty.ar/.
Legal Notice and Terms of Usage
Information and Communications
Our website available at https://poolparty.ar/ (the “Website”), Pool Party platform, and any other information communicated by Pool Party, whether through our communication channels or otherwise (collectively, the “Materials”), do not constitute an offer to sell, a recommendation or solicitation to buy, sell or hold any assets. Nothing in the Materials constitutes a recommendation or solicitation to use Pool Party platform, Pool Party protocol, or any related products or services.
Always make sure to verify that the information that you believe is provided by Pool Party is posted or communicated by our authorised representatives.
Any and all Materials are provided for informational and educational purposes only, and should not be relied upon, either wholly or partially, when making any decision.
We do not warrant, guarantee or represent, whether expressly or impliedly, that the Materials are true, complete, timely, reliable, accurate, sufficient, non-infringing or fit for a particular purpose, and we will be under no obligation to update or fix such Materials. We shall not be responsible for the accuracy or completeness of the Materials; therefore any use of such Information is at your own discretion and risk, and you are solely responsible for any possible damages or losses arising from such use. You should always conduct your own independent research and investigation.
Materials may also contain references to third-party data and industry publications. Although we believe that such data is accurate and reasonable, there are no assurances as to the accuracy or completeness of this data. We have not independently verified any of the data from third-party sources referred to on the Website or Pool Party platform, or ascertained the underlying assumptions relied upon by such sources. Any reference to such third-party data and industry publications does not imply our endorsement thereof.
Pool Party platform is in its Beta Stage
Pool Party platform and Pool Party protocol are in their beta stage, which means that the Pool Party platform, Pool Party protocol, and all related software are experimental. Pool Party platform and Pool Party protocol are provided on an “as is” and “as available” basis, without warranty of any kind, either expressed or implied, including, without limitation, warranties that the Pool Party platform or and Pool Party protocol are free of defects, vulnerabilities, merchantable, fit for a particular purpose or non-infringing. Any use of the Pool Party platform and Pool Party protocol shall be at your own risk. In no event shall Pool Party be held liable in connection with or for any claims, losses, damages or other liabilities, whether in contract, tort or otherwise, arising out of or in connection with the Pool Party platform, Pool Party protocol, their operation or use.
The Website, Pool Party platform, and Materials contain forward-looking statements based on current expectations that involve a number of risks and uncertainties. All opinions, forecasts, projections, future plans or other statements other than statements of historical fact, are forward-looking statements. Any development plans and projections, business projections, future functionality and projected performance of the Pool Party platform or Pool Party, as well as prospects and the future prospects of any industry, are forward-looking statements. Forward-looking statements by their nature address matters that are, to different degrees, uncertain or unknown. We can give no assurance that any forward-looking statements will prove to have been correct. Actual events, results or outcomes could differ materially from what is stated in the forward-looking statement, and you should not rely on any such forward-looking statement. These risks and uncertainties include the impact of economic, competitive, technical and other factors affecting Pool Party platform, Pool Party or its operations, including, but not limited to, the following: development of science and technology, development of the industry in which Pool Party is in, competition, regulatory uncertainty and government actions, the introduction of new regulations and laws, market changes, the performance of Pool Party platform or related products, other business and market conditions.
No part of the Website, Pool Party platform, or Materials should be considered to be business, legal, financial, investment, or tax advice, or advice of a broker regarding any matters to which all or any part of such information relates. You should consult your own legal, financial, tax, or other professional advisors regarding any such information.
Acceptance of Risks and No Liability
You must read the Risks Disclosure Statement below, and by accessing or using the Pool Party platform you accept all of the listed risks and agree that we shall not be in any way liable for any losses or damages incurred due to or in connection with such risks.
Limitation of liability
To the maximum extent permitted by applicable laws and regulations, in no event shall Pool Party, its employees, directors, shareholders, officers, consultants, representatives, agents or contractors be liable or responsible for any direct, indirect, special, punitive, exemplary, incidental, or consequential damages or losses of any kind, nor shall they be liable for the loss of goodwill, loss of profits (including expected), loss of data, diminution of value, and business interruption arising out of or in connection with the Materials or reliance thereon, any inaccuracy or omission in any Materials, whether based upon breach of warranty or contract, negligence, strict liability, tort, or any other legal theory, regardless of whether we have been advised of the possibility of such damages or losses.
Risks Disclosure Statement
Risk of Software Weaknesses
Although we make reasonable efforts to ensure that the Pool Party platform, Pool Party protocol, and related software follow the high-security standards, we do not warrant or represent that the Pool Party platform and Pool Party protocol are secure or safe, or protected from fishing, malware or other malicious attacks. Further, Pool Party platform, Pool Party protocol, and related software may contain weaknesses, bugs, vulnerabilities, viruses or other defects which may have a material adverse effect on the operation of the Pool Party platform, Pool Party protocol, or may lead to losses and damages for you, other users of Pool Party platform, Pool Party protocol or third persons.
Risk Inherent in the Blockchain
Pool Party protocol is or will be deployed on the NEAR blockchain main network, and later may be deployed on other blockchains. As a result, any malfunction, breakdown or abandonment of such blockchain(s) may have a material adverse effect on the Pool Party platform or Pool Party protocol. Moreover, advances in cryptography, or technical advances such as the development of quantum computing, could present risks to the Pool Party platform, Pool Party protocol, and related blockchain software by rendering ineffective the cryptographic consensus mechanism that underpins the blockchain. The smart-contract concept, the underlying software application and software platform (i.e., NEAR or other blockchain) 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 reorganization of the chain, 51 percent attack, or other adverse outcomes each of which may lead to complete loss of your digital assets.
Risk of Flawed Logic of Pool Party platform or Pool Party protocol
The underlying logic of the Pool Party platform, Pool Party protocol, 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 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 wallet, account or network.
Risk of Legal Uncertainty
Intended activities of Pool Party are 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. There is a risk that certain activities may be deemed in violation of any such law or regulation. Penalties for any such potential violation would be unknown. 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 Pool Party platform and/or Pool Party protocol.
Risk of Theft
We make a commercially reasonable effort to ensure that any transactions carried out via or on the Pool Party platform and Pool Party protocol 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 Pool Party platform, Pool Party protocol, or related software, of the NEAR or any other blockchain, 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 on the Pool Party platform or Pool Party protocol.