Last Update: February 10, 2022
Vires.finance is a decentralized protocol operating over Waves Blockchain (“the Vires Protocol" or "Protocol"). The Website https://vires.finance/ ("Website") acts as a front-end to the decentralized Vires.finance protocol provided by Numeris Ltd., a Seyshelles Limited Liability Company with registration number 230885 ("Company", "we", "us").
Numeris Ltd. is not a financial organization or a bank and is currently not under the supervision of any monetary supervisory authority. Therefore, your deposited crypto assets are not protected by any public authorities, including but not limited, state insurance corporations or agencies.
You represent that you are at least eighteen years old, and you are of legal age to accept these Terms according to your residence country legislation. You comply with the laws and regulations of your country of residence, and you have the full right, power, and authority to enter and comply with these Terms on behalf of yourself.
You guarantee that you are not acting for the purpose of speculative investment.
You guarantee that you do not live in a jurisdiction which is qualifying digital tokens as securities.
You guarantee that you will not use the Protocol for any illegal activity, including but not limited to money laundering and the financing of terrorism.
You guarantee that you understand the use of cryptocurrencies and their associated risks.
You agree to indemnify and hold harmless the Company and any of its affiliated persons against all suits, claims, costs, losses, damages or demands (including property loss, tax claims, infringements of intellectual or personal rights) in case of your non-compliance with these Terms.
You guarantee that you will only use the Protocol for lawful purposes and in accordance with these Terms.
As a condition to accessing or using the Protocol, you will not:
- Violate any Applicable Law, including, without limitation, any relevant and applicable anti-money laundering and anti-terrorist financing laws and any relevant and applicable privacy and data collection laws, in each case as may be amended.
- Use the Website for any unlawful purpose;
- Export, re-export, or transfer, directly or indirectly, any Vires technology in violation of applicable export laws or regulations;
- Infringe on or misappropriate any contract, intellectual property or other third-party rights, or commit a tort while using the Website;
- Misrepresent the truthfulness, sourcing or reliability of any content on the Website;
- Use the Website in any manner that could interfere with, disrupt, negatively affect, or inhibit other users from fully enjoying the Website or the Vires Protocol, or that could damage, disable, overburden, or impair the functioning of the Website or the Vires Protocol in any manner;
- Attempt to circumvent any content-filtering techniques or security measures that the Vires Protocol employs on the Website, or attempt to access any service or area of the Website that you are not authorized to access;
- Use any robot, spider, crawler, scraper, or other automated means or interface not provided by us, to access the Website to extract data;
- Introduce any malware, virus, Trojan horse, worm, logic bomb, drop-dead device, backdoor, shutdown mechanism or other harmful material into the Website;
- Post content or communications on the Website that are, in our sole discretion, libelous, defamatory, profane, obscene, pornographic, sexually explicit, indecent, lewd, vulgar, suggestive, harassing, hateful, threatening, offensive, discriminatory, bigoted, abusive, inflammatory, fraudulent, deceptive or otherwise objectionable;
- Post content on the Website containing unsolicited promotions, commercial messages or any chain messages or user content designed to deceive or trick the User of the Website; or
- Encourage or induce any third party to engage in any of the activities prohibited under these Terms.
The Company have the right to implement necessary measures to monitor compliance with this Section.
You acknowledge and agree that the Company has no control over any transactions over the Company decentralized non-custodial liquidity protocol, the method of payment of any transactions or any actual payments of transactions. Accordingly, you must ensure that you have a sufficient balance of the applicable digital tokens.
The User independently signs a blockchain transaction. The User should carefully check the transaction data before signing.
Calculations performed by the smart contract may require rounding. All rounding is made in favour of the smart contract, so there may be minor rounding losses for users.
We provide the measures of Emergency shutdown for a smart contract in case of vulnerability detection. During the Emergency shutdown, related services can become partially unavailable until a decision is made to resume operation.
By accessing and using the Protocol, you represent that you understand the inherent risks associated with using cryptographic and blockchain-based systems and that you have a working knowledge of the usage and intricacies of digital (crypto) assets. You further understand that the markets for these digital (crypto) assets are highly volatile. If you borrow digital assets from the Protocol, you will have to supply digital assets of your own as collateral. If your collateral declines in value such that it is no longer sufficient to secure the amount that you borrowed, others may interact with the Protocol to seize your collateral in a liquidation event. You further acknowledge that we cannot be held liable for any resulting losses that you experience while accessing or using the Protocol. You understand and agree to assume full responsibility for all the risks of accessing and using and interacting with the Protocol.
Price feed oracles. The price feed for WAVES, BTC, ETH, EURN is provided by public oracles on waves blockchain. All "stable coins" (USDT, USDC, USDN) are considered to value 1.00 with a matching fiat currency - USD. Details for each stable coin can be found in the corresponding webpages: USDT - https://tether.to/ru/how-it-works/ USDC - https://www.circle.com/blog/evolving-usdc-reserves-to-100-cash-and-short-duration-us-treasuries USDN - https://medium.com/neutrinoteam/how-the-neutrino-token-nsbt-ensures-usdn-stability-and-protocol-governance-4fd7961f772a
VIRES DAO (DECENTRALIZED AUTONOMOUS ORGANIZATION ) The Protocol is fully decentralized and managed by a decentralized community of gVires token-holders (Vires DAO), who propose and vote on upgrades to the Protocol. Vires locking mechanism (“gVires”, where ‘g’ stands for governance) allows to Users keep uniformly committed to the governance decisions for an extended period. The decentralized gVires voting allows Users to suggest, debate, and implement changes to the Protocol and control all related aspects of VIRES, including but not limited, such as adding support for a new asset, changing an asset’s collateral factor, changing a market’s interest rate model, or changing any other system parameters or variable of the Protocol, and the DAO. Vires DAO's Governance framework allows participation in shaping the direction of the Protocol. Please find the core rules of governance: https://vires.finance/governance/vote NO PROFESSIONAL ADVICE
All information provided by the Website is for informational purposes only and should not be construed as professional advice. You should not take, or refrain from taking, any action based on any information contained on the Website.
The content and materials available on the Website do not constitute any form of advice or recommendation by us, should not be regarded as an offer, solicitation, invitation or recommendation to buy or sell investments, securities or any other financial services and is not intended to be relied upon by you in making any specific investment or other decisions in any jurisdiction. We recommend that you seek independent advice from a consultant before making any decision.
We may hire software developers who can help us to develop, maintain and promote the Vires Protocol. We are liable for their activities related to the Protocol.
MARKETING CAMPAIGNS: GENERAL TERMS
Sometimes we may conduct marketing campaigns with third parties or not. Marketing campaigns (activities) are any promotional competition or promotional action(s).
These activities will be regulated by the special terms published on the Website during the promotion period.
All marketing campaigns are aimed at promoting a specific goal about the Vires Protocol. They do not force to access, download, reproduce, install, copy, play, demonstrate and/or other use the Website. Users make their own decision to take part in particular marketing campaign.
We might delegate launching marketing campaigns to our agents who act on behalf of us and are responsible for all contented information. In such a case, we are not responsible for any disinformation.
By participating in the activity, the User states to agree to the special terms. If you decide to participate in one of such activities, you must act in good faith. You guarantee that you have only one account which can participate in every activity.
There are no costs associated with participation, except insofar as provided otherwise in the special terms for an activity.
Any notice, request, or other communication to be given to us by the User under these Terms shall be in writing and shall be sent to the email address below and shall be deemed delivered only when received by us at:
Any communications sent to the User (documents, notices, confirmations, statements etc.) are deemed received within 24 hours after being sent it.
We grant the User a limited, non-exclusive, non-transferable revocable license to use the Protocol and the Website. This access shall remain in effect until and unless terminated by you or by us.
You acknowledge and agree that all intellectual property on the Website is owned by us and is protected by applicable intellectual property and other laws ("Intellectual property"). Except as expressly authorized by the Company, you agree not to copy, modify, rent, lease, loan, sell, distribute, perform, display, or create any derivative works, in whole or in part, based on our Intellectual property.
You cannot and have no right to use our trademarks, service marks, trade names, logos, domain names, and any other features, whether for commercial use. Except for the rights expressly granted to you in the Terms, we grant no right, title, or interest to you in the Protocol and/or related services, if applicable.
You will retain ownership of all copyright in data you upload or submit to the Website. You grant us a worldwide, royalty-free, irrevocable license to use, copy, distribute or publish and send this data in any manner.
Any hyperlinks or references to third-party websites that the User may find on the Website are provided for your information and convenience only. We have no control over third party websites and accept no legal responsibility for any content, material or information contained in them. The display of any hyperlink and reference to any third-party website does not mean that we endorse that third party's Website, products, or services. Your use of a third-party website may be governed by the terms and conditions of that third-party site.
We may cooperate with other services on the Waves Blockchain or not for User’s comfort and convenience. You understand and accept that if you use these services, you should follow their rules. We are not responsible for their acts or omissions. Please refer to the 3rd party’s terms and conditions prior to using its services: swop.fi https://swop.fi/docs/terms Puzzle Swap https://puzzleswap.org/ Unslashed Finance https://documentation.unslashed.finance/ The list of the 3rd parties may be changed. It is your responsibility to monitor the changes of this document. PRIVACY AND COOKIE POLICIES
You can find more information about how/if we process your personal information and process information about your computer and your interaction with the Website: https://docs.vires.finance/g1/privacy-policy
LIMITATION ON LIABILITY
You acknowledge and agree that you assume full responsibility for your use of the Protocol. You acknowledge and agree that any information you send or receive during your use may not be secure and may be intercepted or later acquired by unauthorized parties. You acknowledge and agree that your use is at your own risk. Recognizing such, you understand and agree that neither the Company nor its affiliated persons or representatives or software developers who were hired by the Company to develop, maintain and promote the Vires Protocol, will be liable to you for any direct, indirect, incidental, special, consequential, punitive, exemplary or other damages of any kind, including without limitation damages for loss of profits, goodwill, use, data or other tangible or intangible losses or any other damages based on contract, tort, strict liability or any other ground (even if the Company had been advised of the possibility of such damages); unauthorized access to or alteration of your transmissions or data; any actions we take or fail to take as a result of communications you send to us; human errors; technical malfunctions; failures, including public utility or internet outages; omissions, interruptions, latency, deletions or defects of any device or network, providers, or the Protocol; any injury or damage to computer equipment; inability to fully access the Protocol and/or related services or use the Protocol and such services; theft, tampering, destruction, or unauthorized access to, images or other content of any kind; data that is processed late or incorrectly or is incomplete or lost; typing, printing or other errors, or any combination thereof; or any other matter relating to the Protocol.
The Company shall not have any liability or responsibility for any errors or omissions in the performance of the Protocol and related services, for your action or inaction in connection with it or for any damage to your computer or data or funds or any other damage you may incur in connection with the Protocol and related services. In no event shall the Company be liable for any direct, indirect, punitive, incidental, special or consequential damages arising out of or in any way connected with the use of the Protocol and related services, the delay or inability to use the Protocol rm and related services or otherwise arising in connection with the Protocol and related services whether based on contract, tort, strict liability or otherwise, even if advised of the possibility of any such damages.
You acknowledge that the Company has no control over, and no duty to take any action regarding third-party websites and services you use with the help of or through the Protocol and related services; how you may use the Protocol and related services; or what actions you may take with the help of the Protocol. You release the Company from all liability for you having acquired or not acquired content through the Protocol and related services. The Company makes no representations concerning any content contained in or accessed through the Protocol and related services.
You acknowledge that the Company is not responsible for transferring, safeguarding, or maintaining your private keys, password, or any crypto-assets accessible therewith. If you lose, mishandle or have stolen password or private keys, you acknowledge that you may not be able to recover your crypto-assets accessible via such private keys and passwords and that the Company is not responsible for such loss. You acknowledge that the Company is not responsible for any loss, damage or liability arising from your failure to comply with the Terms hereunder.
A Force Majeure Event includes without limitation each of the following:
- Government actions, the threat of war, acts of terrorism, or any other crisis;
- Act of God, earthquake, tsunami, hurricane, typhoon, accident, storm, flood, fire, epidemic or other natural disasters;
- Labour disputes and lock-out;
- Breakdown, failure or malfunction of any electronic, network and communication lines (not due to our fault).
COMPLAINTS AND DISPUTE RESOLUTION
If an alleged breach, controversy, claim, dispute ("Dispute") arises between you and us or in connection with your use of the Protocol, the parties shall seek to resolve the matter by negotiations.
The following information will need to be included:
- your email address (or other recognition details);
- a detailed enquiry description;
- the date and time that the issue arose.
If a situation arises which is not expressly covered by these Terms, the parties agree to try to resolve the matter based on good faith and fairness.
Any dispute, controversy, or claim arising out of or in relation to these Terms, including the validity, invalidity, breach, or termination thereof, shall be settled by arbitration in accordance with the Federation Rules of International Arbitration of the Federation Chambers of Commerce in force on the date when the Notice of Arbitration is submitted in accordance with these Rules. The arbitration panel shall consist of one arbitrator only. The seat of the arbitration shall be Victoria, the Republic of Seychelles. The arbitral proceedings shall be conducted in English.
With respect to all persons and entities, regardless of whether they have obtained or used the Website for personal, commercial, or other purposes, all disputes, controversies or claims must be brought in the parties' individual capacity and not as a plaintiff or class member in any purported class action, collective action or other representative proceedings. This waiver applies to class arbitration, and unless we agree otherwise, the arbitrator may not consolidate more than one person's claims. You agree that, by accepting these Terms, you and we are each waiving the right to a trial by jury or to participate in a class action, collective action, or other representative proceedings of any kind. These Terms shall exclusively be governed by and construed in accordance with the substantive laws of the Republic of Seychelles.
Risk of blockchain and other technology usage. You understand that blockchain technologies, including Waves blockchain technology and other associated and related technologies, are new and untested and outside of your or the Company's control and adverse changes in market forces or the technology, broadly construed, may cause the nonperformance by the Company under these Terms including temporary interruption or permanent termination of your access to the Protocol and/or related services, forks, rollbacks or bugs causing loss of your crypto-assets. By utilizing the Protocol or interacting with the content in any way, you represent that you understand the inherent risks associated with blockchain systems; and warrant that you understand the usage and intricacies of blockchain-based software systems and crypto tokens.
You understand and accept that there is no warranty that related services will be uninterrupted or error-free and why there is an inherent risk that the Software could contain weaknesses, vulnerabilities, inter alia, the complete loss of your crypto-assets.
Internet transmission and failures in functionality. You acknowledge that there are risks associated with utilizing the Vires Protocol, including, but not limited to, the failure of hardware, software, and Internet connections. You acknowledge that the Company shall not be responsible for any communication failures, disruptions, errors, distortions or delays you may experience. You acknowledge that there are risks inherent in internet connectivity and technologies that could result in the loss of your privacy, confidential information, and property.
Unfavorable regulatory environment. Cryptocurrencies, blockchain technologies have been the subject of scrutiny by various regulatory bodies around the world. The maintenance of the Protocol and the Website could be impacted by one or more regulatory inquiries or actions, including but not limited to restrictions of use of crypto assets.
The Company and its third-party service providers have implemented and maintained commercially reasonable technical and organizational security measures designed to meet the following objectives: (a) ensure the security and confidentiality of your data; (b) protect against anticipated threats or hazards to the security or integrity of your data; (c) protect against unauthorized access to or use of your data. However, we cannot guarantee that unauthorized third parties will never be able to defeat those measures to access your data for improper purposes. Herewith you acknowledge and agree that you access and use the Protocol at your own risk. The risk of loss of value of held and traded crypto assets can be substantial. You should, therefore, carefully consider whether such trading is suitable for you considering your circumstances and financial resources.
THIS WARNING AND OTHER LATER PROVIDED BY THE COMPANY IN NO WAY EVIDENCE OR REPRESENT AN ONGOING DUTY TO ALERT YOU OF ALL OF THE POTENTIAL RISKS OF USING THE PROTOCOL.
Risk of theft or unauthorized access. You understand and accept that the Protocol may be exposed to attacks by hackers or other individuals that could result in theft or loss of your crypto assets.
We use third-parties services to authorize our Users. We do not have any access to any of users’ data. In the case of theft or unauthorized access, we can not help you. It is your responsibility to keep save all your access details.
Risk of non-compliance with these Terms.
You may not use our Website, the Protocol if you are a citizen, resident, habitant, or legal entity incorporated in Restricted Use Areas as described below.
If you are using the services on behalf of a legal entity, you represent and warrant that: (a) such legal entity is duly organized and validly existing under the applicable laws of the jurisdiction of its organization; (b) you are duly authorized by such legal entity to act on its behalf; (c) any beneficial owner of the legal entity, director, employee, services provider or any other individual in any way connected with your company has not been placed on any of the sanctions lists, published and maintained by the United Nations, European Union, any E.U. country, U.K. Treasury, U.S. Office of Foreign Assets Control (OFAC).
Also, you guarantee that (1) you are not a US citizen, resident, or entity, nor are you get access to and using the Website or signing on behalf of a US Person, (2) you are not a Chinese resident, (3) you are not a South Korean resident, (4) you do not live in a jurisdiction which is qualifying digital tokens as securities.
Residents from Afghanistan, Angola, Bahamas, , Botswana, Burundi, Cambodia, Cameroon, Canada, Chad, China, Congo, Congo (Democratic Republic), Cuba, Eritrea, Ethiopia, Ghana, Guinea, Guinea-Bissau, Haiti, Iran, Iraq, Japan, Lao People’s Democratic Republic, Libya, Madagascar, Mozambique, Nicaragua, North Korea, Pakistan, Somalia, South Sudan, Sri Lanka, Sudan, Syrian Arab Republic, Tajikistan, Trinidad and Tobago, Tunisia, Turkmenistan, Uganda, Vanuatu, Venezuela, Virgin Islands (U.S), Yemen, and Zimbabwe are not permitted to access our Protocol.
Please consult the respective laws governing your region for the most accurate information. Otherwise, you understand and accept that we have the right to limit the availability of the site to any person, geographic area, or jurisdiction we so desire and/or to terminate your access to and use of the Website, Protocol and/or related services, if applicable, at any time and in our sole discretion if we find out that the User does not comply with our Terms.
The volatility of cryptocurrencies. You understand that crypto-assets and other blockchain technologies and associated currencies or tokens are highly volatile due to many factors, including but not limited to adoption, speculation, regulatory changes, technology, and security risks. Forks and changes in the relevant network may result in significant and sudden changes to the value and/or usability of your crypto assets. You acknowledge these risks and represent that the Company cannot be held liable for such risks and related costs.
Risk of loss of funds. The trading market for crypto assets is highly unstable. Prices for crypto assets can and do fluctuate at any given moment for any reason. Due to such price fluctuations, you may gain or lose value in your crypto assets at any given moment. Any asset or trading position may be subject to large swings in value and may even become worthless. You should have deep expertise in trading crypto assets. Moreover, the User shall bear any loss resulted in his/her own fault or error. The risk of loss in trading or holding crypto assets can be substantial. Therefore, you should carefully consider whether trading or holding crypto assets is suitable for you considering your financial condition.
If you supply assets for lending, you understand and accept that you might not be able to withdraw a crypto-asset for an indefinite period of time in case it is borrowed by another user, you acknowledge that you understand the decentralized nature of the Protocol and therefore we do not have the control over users’ actions or non-actions and we cannot be held liable for any of those. You accept the risk of borrowers' default in the case of a non-liquidation event. Furthermore, we do not guarantee the impossibility of any default, including the default of the Protocol in cases, including but not limited, to the loss of trading liquidity, market sentiments, actions or non-actions by other protocol users.
If you borrow digital assets from the Vires Protocol, you will have to supply digital assets of your own as collateral. If your collateral declines in value such that it is no longer sufficient to secure the amount that you borrowed, others may interact with the Vires Protocol to seize your collateral in a liquidation event. You further acknowledge that we are not responsible for any of these variables or risks, do not own or control the Vires Protocol, and cannot be held liable for any resulting losses that you experience while accessing or using the Interface. You understand and agree to assume full responsibility for all of the risks of accessing and using the Interface and interacting with the Vires Protocol.
The failure of the Company to exercise or enforce any right or provision of the Terms shall not constitute a waiver of such right or provision.
You bear the sole responsibility to make payments of all applicable taxes.
By using the Protocol, you agree not to hold us liable for any tax liability associated with or arising from the operation of the Protocol or any other action or transaction related to the Protocol.