last updated: 10 July 2022
Opium provides innovative, cutting-edge technology that is yet to be proved by time. As a beta version of a new financial system, the Opium protocol serves primarily the community of experienced DeFi professionals, who are able to evaluate associated risks, including, but not limited to, the technical failure and permanent capital loss.
It’s essential to understand that the parallel with traditional financial tools such as derivatives is drawn solely for a simplified explanation of Opium’s possibilities. Despite seeming similarity, DeFi tools are quite different, with their unique costs and benefits, risks and protection mechanisms. The Opium protocol provides software that enables and enforces transactions between two or more parties without a traditional centralized intermediary. Please make sure you fully understand how this software operates, the incentive mechanism that it employs, implications of technical failure and other protocol-specific risks before using any of the Opium products.
For the purpose of these Terms, the following capitalized terms shall have the following meanings:
1.1 “Website” means the site located at Opium.network
1.2 “Services” has the meaning set out in Section 3.1.
1.3 “Affiliate” means, with respect to a party to these Terms, any legal entity that, directly or indirectly controls, is controlled by, or is under common control with such party.
1.4 “Applicable Law” means any domestic or foreign law, rule, statute, regulation, by-law, order, protocol, code, decree, or other directive, requirement or guideline, published or in force which applies to or is otherwise intended to govern or regulate any person, property, transaction, activity, event or other matter, including any rule, order, judgment, directive or other requirement or guideline issued by any Governmental Authority having jurisdiction over Blockeys, you, the Website or our Services, or as otherwise duly enacted, enforceable by law, the common law or equity.
1.5 Governmental Authority” includes any domestic or foreign federal, provincial or state, municipal, local or other governmental, regulatory, judicial or administrative authority.
1.6 “Cryptocurrency” means the relevant Blockchain utility token that may be used to purchase computational resources to run decentralized applications or perform actions on the relevant Blockchain.
1.7 “Blockchain” means the underlying blockchain infrastructure which the Website leverages to perform portions of the Services.
Opium protocol is brought to you by Blockeys BV (“Blockeys”) or any successor/affiliate to the company (collectively, “we,” “us,” or “our”) and is aimed at providing open-source software and data source to address general public need for information on derivatives and structured products built on the blockchain, as well as some characteristics of the specific products built on Opium protocol. The primary purpose of the Opium.network website is to provide users with information resources about the fundamentals and specific features of the Opium Protocol, derivative markets in varying Blockchains and different metrics of the relevant products and infrastructure.
Please read these Terms carefully, as these Terms govern your use of our Website or our Services, and expressly cover your rights and obligations, and our disclaimers and limitations of legal liability, relating to such use. By clicking “I agree” to these Terms or otherwise accessing or using our Website or our Services, you accept and agree to be bound by and to comply with these Terms, including the mandatory arbitration provision in Section 11. If you do not agree to these Terms, you must not access or use our Website or the Services. You are entering into a binding agreement.
You must be able to form a legally binding contract online either on behalf of a company or as an individual. Accordingly, you represent that: (a) if you are agreeing to these Terms on behalf of a company or other legal entity, you have the legal authority to bind the company or other legal entity to these Terms; and (b) you are at least 18 years old (or the age of majority where you reside, whichever is older), can form a legally binding contract online, and have the full, right, power and authority to enter into and to comply with the obligations under these Terms.
In addition to the foregoing, you also represent and warrant that you are not a citizen or resident of a state, country, territory or other jurisdiction that is embargoed by the United States or where your use of the Website or the Services would be illegal or otherwise violate any applicable law.
Please carefully review the disclosures and disclaimers set forth in Section 9 in their entirety before using the Website or our Services. The information in Section 9 provides important details about the legal obligations associated with your use of the Website or Services.
We may update the Services and any part of the Terms at any time, for any reason, at our sole discretion. Once any part of the Terms is updated and in effect, you will be bound by the terms if you continue to use the Services, including by accessing the Website. We may, at any time, and without liability to you, modify or discontinue all or part of the Services (including access to the Services via any third-party links). You may contact us with questions about your use of the Services at [email protected]. When you communicate with us electronically, you consent to receive communications from us electronically. You should review the terms from time to time to ensure that you understand the terms and conditions that apply to you when you access or use the website.
3.1 Services - The primary purpose of the website is to provide users with information resources about the fundamentals and specific features of the Opium Protocol, derivative markets in varying Blockchains and different metrics of the relevant products and infrastructure. The website also provides information about the wider Opium ecosystem, governance, community, and various interfaces and integrations. All information provided in connection with your access and use of the website and the Services is for informational purposes only. You should not take, or refrain from taking, any action based on any information contained on the website or any other information that is made available at any time, including blog posts, data, articles, links to third-party content, discord content, news feeds, tutorials, tweets, and videos. Before you make any financial, legal, technical, or other decisions involving the website, you should seek independent professional advice from a licensed and qualified individual in the area for which such advice would be appropriate.
3.5 Your Responsibilities - As a condition to accessing or using the Services or the website, you shall: (a) only use the Services and the website for lawful purposes and in accordance with these Terms; (b) ensure that, at all times, all information that you provide on the website is current, complete and accurate;
3.6 Unacceptable Use or Conduct - As a condition to accessing or using the website or the Services, you will not: (a) violate any Applicable Law, including, without limitation, any relevant and applicable anti-money laundering and anti-terrorist financing laws, such as applicable banking laws and regulations which may be based on the country or jurisdiction of your residence (b) infringe on or misappropriate any contract, intellectual property or other third-party right, or commit a tort while using the website or the Services; (c) use the Services in any manner that could interfere with, disrupt, negatively affect, or inhibit other users from fully enjoying the Services, or that could damage, disable, overburden, or impair the functioning of the Services in any manner; (d) attempt to circumvent any content filtering techniques or security measures that Blockeys employs on the website, or attempt to access any service or area of the website or the Services that you are not authorized to access; (e) use the Services to pay for, support, or otherwise engage in any illegal gambling activities, fraud, money-laundering, or terrorist activities, or other illegal activities; (f) use any robot, spider, crawler, scraper, or other automated means or interface not provided by us, to access the Services or to extract data; (g) introduce any malware, virus, Trojan horse, worm, logic bomb, drop-dead device, backdoor, shutdown mechanism or other harmful material into the website or the Services; (h) provide false, inaccurate, or misleading information; (i) 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; (j) post content on the website containing unsolicited promotions, political campaigning, or commercial messages or any chain messages or user content designed to deceive or trick the user of the Service; (k) use the website or the Services from a jurisdiction that we have, in our sole discretion, or a relevant Governmental Authority has determined is a jurisdiction where the use of the website or the Services is prohibited; or (l) encourage or induce any third party to engage in any of the activities prohibited under this Section 3.7.
(A) HAVE THE NECESSARY TECHNICAL EXPERTISE AND ABILITY TO REVIEW AND EVALUATE THE SECURITY, INTEGRITY AND OPERATION OF DECENTRALIZED FINANCE, DECENTRALIZED FINANCE PRIMITIVES OF OPIUM PROTOCOL.
(B) HAVE THE KNOWLEDGE, EXPERIENCE, UNDERSTANDING, PROFESSIONAL ADVICE AND INFORMATION TO MAKE YOUR OWN EVALUATION OF THE MERITS, RISKS AND APPLICABLE COMPLIANCE REQUIREMENTS UNDER APPLICABLE LAW OF ANY DECENTRALIZED FINANCIAL PRIMITIVES.
(C) KNOW, UNDERSTAND AND ACCEPT THE RISKS ASSOCIATED WITH, THE BLOCKCHAIN, CRYPTOCURRENCY AND DECENTRALIZED FINANCE (IN GENERAL) AND PRIMITIVES.
(D) ACCEPT THE RISKS ASSOCIATED WITH DECENTRALIZED FINANCE PRIMITIVES, AND ARE RESPONSIBLE FOR CONDUCTING YOUR OWN INDEPENDENT ANALYSIS OF THE RISKS SPECIFIC TO ANY DECENTRALIZED FINANCE PRIMITIVES. YOU HEREBY ASSUME, AND AGREE THAT BLOCKEYS WILL HAVE NO RESPONSIBILITY OR LIABILITY FOR, SUCH RISKS. YOU HEREBY IRREVOCABLY WAIVE, RELEASE AND DISCHARGE ALL CLAIMS, WHETHER KNOWN OR UNKNOWN TO YOU, AGAINST BLOCKEYS, ITS AFFILIATES AND THEIR RESPECTIVE SHAREHOLDERS, MEMBERS, DIRECTORS, OFFICERS, EMPLOYEES, AGENTS AND REPRESENTATIVES RELATED TO ANY OF THE RISKS SET FORTH HEREIN. AND
(E) YOU UNDERSTAND THAT BLOCKCHAIN REMAINS UNDER DEVELOPMENT WHICH CREATES SECURITY AND TECHNOLOGICAL RISKS WHEN USING THE SERVICES AND OPIUM.NETWORK.
3.8 - Your Content You hereby grant to us a royalty-free, fully paid-up, sublicensable, transferable, perpetual, irrevocable, non-exclusive, worldwide license to use, copy, modify, create derivative works of, display, perform, publish and distribute, in any form, medium or manner, any content that is available to other users via the Website as a result of your use of the Website (collectively, “Your Content”) through your use of the Services or the Website, including, without limitation, for promoting Blockeys (or its Affiliates), the Services or the Website. You represent and warrant that: (a) you own Your Content or have the right to grant the rights and licenses in these Terms; and (b) Your Content and our use of Your Content, as licensed herein, does not and will not violate, misappropriate or infringe on any third party’s rights.
5.1 - Ownership of Services; License to Services Excluding any open source software (as further described in Section 5.2) or third-party software that the Website or the Services incorporates, as between you and Blockeys, Blockeys owns the Website and the Services, including all technology, content and other materials used, displayed or provided on the Website or in connection with the Services (including all intellectual property rights subsisting therein), and hereby grants you a limited, revocable, transferable, license to access and use those portions of the Website and the Services that are proprietary to Blockeys.
5.2 - Blockeys License; Open Source Software License; Limitations The Website and the Services are governed by the most recent version of the open source license commonly known as the “Apache License 2.0, a copy of which (as it applies to the Website and the Services) can be found at https://github.com/OpiumProtocol/opium-contracts/blob/master/LICENSE.md (as of the date these Terms were last updated) and any other applicable licensing terms for the Website and the Services in these Terms (collectively, the “Blockeys License”). You acknowledge that the Website or the Services may use, incorporate or link to certain open-source components and that your use of the Website or Services is subject to, and you will comply with any, applicable open-source licenses that govern any such open-source components (collectively, “Open-Source Licenses”).
Without limiting the generality of the foregoing, you may not: (a) resell, lease, lend, share, distribute or otherwise permit any third party to use the Website or the Services; (b) use the Website or the Services for time-sharing or service bureau purposes; or (c) otherwise use the Website or the Services in a manner that violates the Blockeys License or any other Open-Source Licenses.
5.3 - Trademarks Any of Blockeys’s product or service names, logos, and other marks used in the Website or as a part of the Services are trademarks owned by Blockeys, its Affiliates or its applicable licensors. However, the code for the Opium protocol and part of the front-end interface is open-sourced. Except as expressly set forth herein, your use of or access to the Services does not grant you any ownership or other rights therein. You may not copy, imitate or use them without Blockeys’s (or the applicable licensor’s) prior written consent.
6.1 - Changes to Services. We may, at our sole discretion, from time to time and with or without prior notice to you, modify, suspend or disable, temporarily or permanently, the Services, in whole or in part, for any reason whatsoever, including, but not limited to, as a result of a security incident or you violating the rules and restrictions.
6.2 - No Liability. We will not be liable for any losses suffered by you resulting from any modification to any Services or from any suspension or termination, for any reason, of your access to all or any portion of the Website or the Services.
6.3 - Survival. The following sections will survive any termination of your access to the Website or the Services, regardless of the reasons for its expiration or termination, in addition to any other provision which by law or by its nature should survive: Sections 1, 4, 5, 6.3, and 7-13.
You consent to receive all communications, agreements, documents, receipts, notices, and disclosures electronically (collectively, our “Communications”) that we provide in connection with these Terms or any Services. You agree that we may provide our Communications to you by posting them on the Website or by emailing them to you at the email address you provide in connection with using the Services, if any. You should maintain copies of our Communications by printing a paper copy or saving an electronic copy. You may also contact our support team to request additional electronic copies of our Communications by filing a support request at [email protected].
You will defend, indemnify, and hold harmless us, our Affiliates, and our and our Affiliates’ respective shareholders, members, directors, officers, employees, attorneys, agents, representatives, developers, suppliers and contractors (collectively, “Indemnified Parties”) from any claim, demand, lawsuit, action, proceeding, investigation, liability, damage, loss, cost or expense, including without limitation reasonable attorneys’ fees, arising out of or relating to (a) your use of, or conduct in connection with, the Website;; (c) any feedback or user content you provide to the Website, if any; (d) your violation of these Terms; or (e) your infringement or misappropriation of the rights of any other person or entity. If you are obligated to indemnify any Indemnified Party, Blockeys (or, at its discretion, the applicable Indemnified Party) will have the right, in its sole discretion, to control any action or proceeding and to determine whether Blockeys wishes to settle, and if so, on what terms. You will not in any event settle any claim without our prior written consent.
The primary purpose of the Website is to provide users with information resources about the fundamentals and specific features of the Opium Protocol, derivative markets in varying Blockchains and different metrics of the relevant products and infrastructure.
OPIUM PROTOKOL IS AN OPEN SOURCE SOFTWARE PLATFORM DEVELOPED BY BLOCKEYS B.V. OPIUM PROTOKOL DOES NOT OFFER AND TRADE EXECUTION OR CLEARING SERVICES. IT DOES NOT ALLOW TO ENTER INTO TRANSACTIONS OR TRANSFER FUNDS IN ANY WAY. IT HAS NO OVERSIGHT, INVOLVEMENT, OR CONTROL WITH RESPECT TO THE TRANSACTIONS OR OTHER ACTIONS PERFORMED BY USERS ON PLATFORMS OR WEBSITES THAT USE OPIUM PROTOCOL.
THE INFORMATION IN THIS DOCUMENT AND ANY ALL INFORMATION ON OPIUM.NETWORK IS FOR INFORMATION PURPOSES ONLY (AS OFFERED BY BLOCKEYS) AND DOES NOT CONSTITUTE FINANCIAL OR OTHER ADVICE OR AN INDUCEMENT TO PURCHASE OR SELL ANY SERVICE OR SECURITY (HOWEVER DEFINED UNDER APPLICABLE LAW). BLOCKEYS MAKES NO WARRANTIES OF ANY KIND IN RELATION TO ITS CONTENT AND SERVICES (SUCH AS OPIUM.NETWORK , INCLUDING BUT NOT LIMITED TO ACCURACY, SECURITY, INTEGRITY AND (FINANCIAL OR OPERATIONAL) PERFORMANCE OF INSTRUMENTS AND INVESTMENTS.
ANY USE OF OPIUM.NETWORK IS SOLELY AT YOUR OWN RISK AND DISCRETION. YOU SHOULD ALWAYS CONDUCT YOUR OWN RESEARCH, REVIEW, ANALYSIS AND VERIFY CONTENT OF SERVICES BEFORE RELYING ON OR USING THEM.
DERIVATIVES WITH CRYPTO CURRENCIES (OR ANY OTHER ASSET CLASS) AS A REFERENCE ARE HIGHLY RISKY ACTIVITY THAT CAN LEAD TO MAJOR LOSSES.
In no event shall we (together with our Affiliates, including our and our Affiliates’ respective shareholders, members, directors, officers, employees, attorneys, agents, representatives, suppliers or contractors) be liable for any incidental, indirect, special, punitive, consequential or similar damages or liabilities whatsoever (including, without limitation, damages for loss of data, information, revenue, goodwill, profits or other business or financial benefit) arising out of or in connection with the Website and the Services (and any of their content and functionality), any performance or non-performance of the Services, your Cryptocurrency , decentralized financial primitives or any other product, service or other item provided by or on behalf of us, whether under contract, tort (including negligence), civil liability, statute, strict liability, breach of warranties, or under any other theory of liability, and whether or not we have been advised of, knew of or should have known of the possibility of such damages and notwithstanding any failure of the essential purpose of these Terms or any limited remedy hereunder.
Please read the following section carefully because it requires you to arbitrate certain disputes and claims with Blockeys and limits the manner in which you can seek relief from us, unless you opt out of arbitration by following the instructions set forth below.
Prior to commencing any legal proceeding against us of any kind, including an arbitration as set forth below, you and we agree that we will attempt to resolve any dispute, claim, or controversy between us arising out of or relating to the agreement or the Services (each, a “Dispute” and, collectively, “Disputes”) by engaging in good faith negotiations. Such good faith negotiations require, at a minimum, that the aggrieved party provide a written notice to the other party specifying the nature and details of the Dispute. The party receiving such notice shall have thirty (30) days to respond to the notice. Within sixty (60) days after the aggrieved party sent the initial notice, the parties shall meet and confer in good faith by videoconference, or by telephone, to try to resolve the Dispute. If the parties are unable to resolve the Dispute within ninety (90) days after the aggrieved party sent the initial notice, the parties may agree to mediate their Dispute, or either party may submit the Dispute to arbitration as set forth below.
You and Blockeys agree that any dispute arising out of or related to these Terms or our Services is personal to you and Blockeys and that any dispute will be resolved solely through individual action, and will not be brought as a class arbitration, class action or any other type of representative proceeding.
The Notice must (a) include your name, residence address, email address, and telephone number; (b) describe the nature and basis of the claim; and (c) set forth the specific relief sought. Our notice to you will be similar in form to that described above. If you and Blockeys cannot reach an agreement to resolve the claim within thirty (30) days after such Notice is received, then either party may submit the dispute to the court in accordance with the applicable laws.
Any claim arising out of or related to these Terms or our Services must be filed within one year after such claim arose; otherwise, the claim is permanently barred, which means that you and Blockeys will not have the right to assert the claim.
These Terms (including the Privacy Statement), the Website, the Services and any dispute or claim arising out of or in connection with it shall be governed by Dutch law. Any and all disputes arising from or relating to these Terms (including the Privacy Statement), the Services or any agreements stemming therefrom shall be submitted to the exclusive jurisdiction of the competent court in Amsterdam, the Netherlands.
Any right or remedy of Blockeys set forth in these Terms is in addition to, and not in lieu of, any other right or remedy whether described in these Terms, under Applicable Law, at law or in equity. Our failure or delay in exercising any right, power, or privilege under these Terms shall not operate as a waiver thereof. The invalidity or unenforceability of any of these Terms shall not affect the validity or enforceability of any other of these Terms, all of which shall remain in full force and effect. We will have no responsibility or liability for any failure or delay in performance of the Website or any of the Services, or any loss or damage that you may incur, due to any circumstance or event beyond our control, including without limitation any flood, extraordinary weather conditions, earthquake, or other act of God, fire, war, insurrection, riot, labor dispute, accident, action of government, communications, power failure, or equipment or software malfunction. You may not assign or transfer any right to use the Website or the Services, or any of your rights or obligations under these Terms, without our express prior written consent, including by operation of law or in connection with any change of control. We may assign or transfer any or all of our rights or obligations under these Terms, in whole or in part, without notice or obtaining your consent or approval. Headings of sections are for convenience only and shall not be used to limit or construe such sections. These Terms contain the entire agreement, and supersede all prior and contemporaneous understandings between the parties regarding the Website and the Services. In the event of any conflict between these Terms and any other agreement you may have with us, these Terms will control unless the other agreement specifically identifies these Terms and declares that the other agreement supersedes these Terms.