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V8COIN

APP / Disclaimer

Effective date: 6th January 2025

Disclaimer

V8COIN provides the services through the Website and the App (Services). By accessing the Services through the Website or the App, immediately and from your very first access to the Services, you unconditionally and irrevocably agree to be bound by our Terms and Conditions and Privacy Policy as well as this Disclaimer, all applicable laws and/or regulations and you agree that you are responsible for this compliance. Your agreement with us includes our Terms, our Privacy Policy and this Disclaimer (“Agreements”). You acknowledge that you have read and understood Agreements, and agree to be bound by them. By participating and utilizing V8COIN services, you also acknowledge your due diligence in ensuring no geographical regulations in your region of residence prohibits the adoption and participation in cryptocurrencies.

If you do not agree with (or cannot comply with) Agreements, then you may not use the Service. These Terms apply to all visitors, users and others who wish to access or use the Service.

1.GENERAL DISCLAIMER

a.

All content shared through our Website and/or App is for your convenience only and should not be relied on as legal, financial, investment, taxation or other related consultancy. Please seek your specific financial, legal or tax advisor before the use of our Services. Such services entail considerable risks when being used. Here are the risk factors below which are not exclusive or may expand as the nature of this sector unfolds.

2.TECHNOLOGY AND SMART CONTRACT RISKS

a.

Smart contracts of V8COIN are decentralized self-executing contracts run on the Ethereum blockchain as per the built-in code. However, potential vulnerabilities or flaws in this code could be exploited by malicious actors, potentially resulting in the loss of assets or other unintended consequences. Smart contracts are often audited for flaws, and while these have not been found, further bugs may be lurking. It is important that users of the services take appropriate precaution when engaging in the use of the Services

b.

Technology Risk refers to the potential challenges and failures associated with blockchain technology and the Services. This includes risks related to the underlying Ethereum blockchain, possible issues with our Services, and other technical components of the system.

c.

Bugs and Vulnerabilities Risk is directly linked with the existence of the possible unnoticed defects or other weaknesses in the Website and / or App front-end users’ interface code.

d.

Our Services may be updated or modified over time to enhance functionality or address issues. However, these upgrades can introduce new bugs or vulnerabilities and may be incompatible with previous versions. Such changes could lead to service disruptions or unexpected protocol behavior.

e.

Delays or failures in updating our Services interface to address vulnerabilities, threats, or protocol changes can expose users to risks. For instance, if a security flaw is identified in how the interface interacts with smart contracts but isn't promptly fixed, users could face transaction manipulation or asset loss. Similarly, if significant protocol updates occur and the interface isn’t aligned, outdated functionality may lead to errors, failed transactions, or asset loss. Users should note that while blockchain and smart contract updates may occur rapidly, front-end interfaces via our Website and/or App may have separate, slower update cycles, potentially creating temporary risks.

f.

Our Services depends on oracles third-party services that deliver external data to the blockchain, such as price feeds for assets. If an oracle provides inaccurate, manipulated, or delayed information, it may cause smart contracts to execute incorrectly, potentially resulting in financial losses or unintended outcomes. Additionally, oracle failures or downtime can disrupt the protocol’s functionality, affecting transactions and overall system reliability. Users should be aware of the inherent dependency on oracles and the risks they introduce to blockchain operations.

g.

Our Services relies on the Ethereum blockchain, it is affected by the network’s limitations and potential congestion. During periods of high activity, gas fees can surge significantly, and transaction delays may occur. This could result in failed transactions, increased costs for users, or the inability to complete time-sensitive operations, such as liquidations or seizing market opportunities, within the required timeframe. Users should consider these risks when planning transactions on the platform.

h.

Our Services relies on multiple technical service providers and third-party integrations to operate effectively. The availability and performance of the Services depend on the seamless functioning of these vendors. Any disruptions, failures, or vulnerabilities in the services provided by these third parties could impact the functionality or accessibility of our Website and/or App interface, potentially leading to interruptions, reduced performance, or security issues. Users should be aware of the dependencies on external vendors and the risks they introduce to the platform.

i.

Security Risks:

i.

Hacking Risk involves the potential for malicious actors to exploit vulnerabilities or gain unauthorized access to our Website and/or App interface or components of the V8COIN protocol. Such breaches could result in theft of assets, data manipulation, or disruption of Services. Despite the implementation of security measures, no system is entirely immune to attacks, and users should remain cautious about this risk

ii.

Phishing Risk arises when users are tricked into providing sensitive information, such as private keys or login credentials, through fake websites, emails, or communications posing as V8COIN. These deceptive tactics can result in the loss of assets or compromised accounts. Users should verify the authenticity of all communications and only interact with official V8COIN platforms.

iii.

Exploitation Risk refers to the possibility of attackers discovering and exploiting bugs, vulnerabilities, or loopholes within the V8COIN protocol or our Website and/or App interface. Such incidents could lead to loss of funds, data corruption, or operational failures. While rigorous testing and audits are conducted, the dynamic nature of blockchain technology means new vulnerabilities may emerge over time.

j.

When using our Services, the primary security concerns revolve around potential attempts to compromise the interface or deceive users into approving harmful transactions. Although malicious actors cannot directly access or steal assets through our Website and/or App interface since no assets are stored there, they may employ various strategies, including but not limited to:

i.

Interface Manipulation: Changing the display to show inaccurate data.

ii.

Malicious Transaction Injection: Introducing harmful transaction details for users to inadvertently approve.

iii.

Phishing Attempts: Trying to obtain users' wallet private keys through deceptive practices.

iv.

Additional Tactics: Utilizing other methods to compromise user security.

k.

Although V8COIN is not an exchange, it may interact with decentralized exchanges (DEXs), aggregators, or other protocols. If these connected platforms are compromised, it could indirectly impact V8COIN users. For example, if a DEX used for liquidity or price determination is hacked, it could disrupt the functionality of our Website and/or App.

l.

Application Security Risks involve potential vulnerabilities within the Website and or its subdomains. Issues might include insecure data handling, insufficient encryption, or coding flaws that attackers could exploit. A security breach could grant unauthorized access to user information or the interface, potentially leading to unauthorized sign-ins or other malicious activities.

m.

Web Application Security Risks for our App, maintaining the integrity of the interface is crucial. This includes ensuring the accuracy of displayed information, securing the transaction signing process, and safeguarding against the injection of malicious code that could alter transaction details before approval. Users should always verify they are using the official interface and remain cautious of any unusual behavior or unexpected requests.

n.

API Integration Risks associated with API integrations involve the potential for compromised data from connected services to influence user actions or automated processes. Additionally, vulnerabilities in API connections could allow malicious data or commands to be injected into our Website and/or App interface.

o.

Phishing and Impersonation Risks There is a risk that malicious parties may create counterfeit websites, social media profiles, or other online presences that closely resemble the Website and/or App. These fake entities aim to deceive users into believing they are interacting with the legitimate platform, potentially leading to the disclosure of sensitive information like private keys or seed phrases, or the approval of malicious transactions. Users must verify the authenticity of websites, social media accounts, and communications to avoid falling prey to such impersonation schemes.

3.USER-RELATED RISKS

a.

The users are solely responsible for managing and securing their cryptocurrency assets. Unlike traditional financial systems where institutions safeguard assets, in Defi, users must handle private keys, seed phrases, and device security themselves. Loss of access to a wallet or recovery phrase means there is no central authority to recover assets. If a private key is compromised, an attacker could potentially access and drain the user's assets without any recourse through our Website and/or App interface

b.

Users of our Services connect via a non-custodial wallet secured by a private key. This key is essential for signing transactions and verifying ownership on the blockchain. If the private key is lost, stolen, or otherwise compromised, an attacker could gain complete control over the user's assets.

c.

Our Website and App are a non-custodial interface, users may encounter custodial risks when interacting with other parts of the DeFi ecosystem. For instance, transferring assets from a custodial exchange to use with our Website and/or App exposes users to risks such as exchange hacks, insolvency, or asset freezes due to legal or regulatory actions while their assets are held on that exchange.

d.

These risks involve the possibility that users might misinterpret or misuse our Website and App, leading to unintended actions or transactions. Users might misread information, click incorrect buttons, or not fully understand the consequences of their actions, potentially resulting in financial losses.

4.REGULATORY AND COMPLIANCE RISKS

a.

Regulatory changes may impact the operation of the Website, App, Services, or V8COIN Protocol, potentially restricting or suspending access to certain features or the entire platform without prior notice. Users should understand that access to Services, including third-party integrations, is subject to these external legal and regulatory factors beyond the platform's control.

b.

Legal uncertainty risks arise from the lack of clear legal frameworks governing cryptocurrency, making users of the Website or App accessing the V8COIN Protocol face complex and ambiguous legal environments. This uncertainty can affect the legal status of transactions, the enforceability of smart contracts, and the responsibilities of involved parties, potentially leading to legal disputes or unforeseen legal consequences.

c.

Compliance issues risks involve the challenges users may face in meeting various legal and regulatory requirements while using our Services. Users should be aware that their activities might be scrutinized by tax authorities, financial regulators, or law enforcement agencies, and they must take necessary steps to ensure compliance

d.

The tax implications of cryptocurrency transactions are evolving and can be complex. Interactions with the V8COIN Protocol might create taxable events that are not immediately apparent, such as providing collateral, borrowing against it, or earning rewards. Users are responsible for understanding and fulfilling their tax obligations related to their use of the Services.

5.FRAUD AND MALICIOUS ACTIVITY RISKS

a.

Operating within a decentralized and open framework makes the V8COIN Protocol susceptible to malicious actors who may use tactics like unexpected offers or requests for confidential information to deceive users. To protect themselves, users should remain vigilant for any unusual or suspicious activities and avoid actions that could lead to unintended transactions or the disclosure of private details.

b.

Cybercriminals may impersonate the Website, App, or Services through fake websites, emails, or social media accounts to conduct phishing attacks aimed at stealing users' private keys or wallet credentials. Users should always verify URLs and remain cautious of unsolicited communications requesting personal or financial information to protect themselves from such scams.

c.

The transparency of blockchain transactions allows others to monitor pending transactions and attempt to execute their own ahead of them, a practice known as front-running. This can lead to less favorable outcomes for users and may undermine the effectiveness of their intended transactions on the V8COIN Protocol

d.

MEV (Miner Extractable Value) involves ordering transactions within a block to maximize financial gains, which can lead to higher transaction costs, price slippage, or failed transactions for users. Users participating in DeFi should be aware that large or high-value transactions are particularly susceptible to manipulations such as front-running, back-running, and sandwich attacks, highlighting the systemic impact of MEV on blockchain networks.

6.EXCHANGE RISKS

a.

The Services do not operate as a cryptocurrency exchange, but users may need to interact with centralized exchanges when using the V8COIN Protocol. There is a risk that these exchanges could become insolvent, potentially causing users to lose access to their assets or experience significant delays in recovering them when transferring between exchanges and non-custodial wallets.

b.

Certain decentralized exchange (DEX) mechanisms used by the Website or App may involve solver centralization risks, where a limited number of solvers could manipulate trade executions, front-run transactions, or create single points of failure. Although the Website and App do not control these solver systems, users should be aware that trading tokens or interacting with liquidity pools through the V8COIN Protocol may expose them to these risks depending on the underlying protocols

7.OPERATIONAL RISKS

a.

Using the V8COIN Protocol through the Website or App involves risks such as server failures, hacking, and interface errors that may prevent users from accessing their assets or completing transactions. To mitigate these risks, users are encouraged to interact directly with the protocol's smart contracts or utilize alternative gateways if the primary system encounters issues.

8.THIRD-PARTY AND INTEGRATION RISKS

a.

Third-Party Integration Risks involve potential vulnerabilities or issues arising from the Website and/or App interface’s connections with external services or protocols. For example, integrations with aggregators, decentralized exchanges, or trade routers might introduce vulnerabilities or experience downtime, affecting the functionality of the Services or compromising user assets within the V8COIN Protocol.

b.

The Website and App may integrate with various counterparties to enhance the provision of DeFi Services. DeFi platforms often interact with other protocols, oracles, and decentralized exchanges, introducing risks associated with these external entities. The Website, App, and V8COIN Protocol rely on other DeFi projects for functionalities such as price oracles, liquidity pools, and cross-chain bridges, making them susceptible to issues like smart contract exploits, economic attacks, or design flaws in these external protocols. If a critical dependency, such as a major liquidity pool, is compromised, it could disrupt the protocol's ability to maintain its USDS peg or efficiently process user transactions, negatively impacting both the Services and its users.

9.GOVERNANCE AND PROTOCOL RISKS

a.

The V8COIN Protocol operates through a community-driven governance model, where token holders propose and vote on protocol changes. While this approach aims to reflect the community's best interests, it introduces risks such as the possibility of voting for changes that harm some users or destabilize the system. Additionally, the governance process might be too slow to address urgent issues, leaving the protocol vulnerable during critical times.

b.

Governance attacks involve malicious actors manipulating the governance process of the V8COIN Protocol. This could happen through actions like accumulating a large number of governance tokens to pass harmful proposals, exploiting vulnerabilities in the voting mechanism, or using multiple small accounts to influence voting outcomes (Sybil attacks). Such attacks could lead to protocol changes that benefit attackers at the expense of other users, potentially destabilizing the system. Governance centralization risks arise when decision-making power is concentrated among a small group of participants within the V8COIN protocol's governance system. Despite intentions for broad participation, a few large token holders (whales) might dominate voting power, leading to decisions that favor these major stakeholders over smaller users. This concentration can result in protocol changes that do not align with the broader user base's interests and make the governance system more susceptible to external pressures, threatening the protocol's long-term stability and decentralization.

10.PRIVACY AND DATA RIGHTS

a.

The transparency of blockchain technology means that all transactions on the Ethereum blockchain, including those conducted through our Website or App, are publicly accessible and can potentially link wallet addresses to user activities. Although personal identities are not directly disclosed, advanced analytical techniques may correlate on-chain data with off-chain information, potentially compromising user privacy. Both the Website/App and the V8COIN Protocol depend on external data sources and third-party services for their functionality. Users should understand that the reliability and accuracy of these services are partly influenced by factors beyond the platform's control.