RISK DISCLOSURE REGARDING LI’L GOATS SERVICES
Effective: June 3, 2021
Last Updated: August 16, 2021
Li’l Goats is furnishing this disclosure to users to provide additional information regarding the characteristics and risk associated with Li’l Goats services procedures.
SERVICE TERMS AND LIMITATIONS
Use of Blockchain Technology:
- Li’l Goats utilizes experimental cryptographic technologies and blockchain technologies, including tokens, cryptocurrencies, “smart contracts,” consensus algorithms, and distributed decentralized or peer-to-peer networks or systems in performing the purchases. Each User acknowledges and agrees that such technologies are novel, experimental, and that therefore there is significant uncertainty regarding the operation and effects and risks thereof and the application of existing law thereto.
- The technology utilized in delivering the purchases depends on public peer-topeer networks such as Cardano that are not under the control or influence of Li’l Goats and are subject to many risks and uncertainties. Such technologies include the Cardano blockchain “mainnet”, which Li’l Goats may have limited or no ability to change. Users are solely responsible for the safekeeping of the private key associated with the blockchain address used to participate in the purchases. If a User are not able to use a Goat due to loss or theft of the corresponding private key or otherwise, a User will be unable to exercise their rights with respect to such Li’l Goats products.
- The fiat-denominated prices and value in public markets of assets such as ADA have historically been subject to dramatic fluctuations and are highly volatile. As relatively new products and technologies, blockchain-based assets are not widely accepted as a means of payment for goods and services. A significant portion of demand for these assets is generated by speculators and investors seeking to profit from the short- or long-term holding of blockchain assets. A user acknowledge and agrees that the costs and speeds of transacting with cryptographic and blockchain-based systems such as Cardano are variable and may increase or decrease dramatically at any time.
- WE WILL NOT BE RESPONSIBLE OR LIABLE TO YOU FOR ANY LOSS AND TAKE NO RESPONSIBILITY FOR, AND WILL NOT BE LIABLE TO YOU FOR, ANY USE OF CRYPTO ASSETS, INCLUDING BUT NOT LIMITED TO ANY LOSSES, DAMAGES OR CLAIMS ARISING FROM: (A) USER ERROR SUCH AS FORGOTTEN PASSWORDS, INCORRECTLY CONSTRUCTED TRANSACTIONS, OR MISTYPED ADDRESSES; (B) SERVER FAILURE OR DATA LOSS; (C) CORRUPTED WALLET FILES; (D) UNAUTHORIZED ACCESS TO APPLICATIONS; (E) ANY UNAUTHORIZED THIRD PARTY ACTIVITIES, INCLUDING WITHOUT LIMITATION THE USE OF VIRUSES, PHISHING, BRUTEFORCING OR OTHER MEANS OF ATTACK AGAINST THE SERVICE OR CRYPTO ASSETS.