Risk Disclosure Policy
This document must be read as it outlines the use and risk of using XDCSwaps.
XDCSwaps is a decentralized project that users can use to trade and stake XRC-20 tokens. Your use of the XDCSwaps Protocol involves risks, involving losses due to the fluctuation of token prices. Before using the XDCSwaps Protocol, you should DYOR (do your own research) to ensure you know how XDCSwaps works. You are responsible for doing your own diligence to ensure you're fully aware how this works.
A cryptocurrency is a digital or virtual currency that is secured by cryptography, which makes it nearly impossible to counterfeit or double-spend. Many cryptocurrencies are decentralized networks based on blockchain technology—a distributed ledger enforced by a disparate network of computers. A defining feature of cryptocurrencies is that they are generally not issued by any central authority.
Blocksworkz is a DAO organisation with the team based in the UK, according to the Bank of England, since cryptocurrencies lack classical definitional characteristics, they are not considered ‘money’ and do not pose a systemic risk to the stability of the banking ecosystem. However, because the legal consequences, regulations, and status of crypto assets and currencies can change depending on their nature, type, and usage, the Financial Conduct Authority (FCA) and the Bank of England have issued a range of warnings and guidance about the use of cryptocurrency in the UK. Those warnings concern the absence of regulatory and monetary protection, the status of cryptocurrencies as stores of value, and on the dangers of speculative trading and volatility. It is down to the user to familiarise theirselves with the laws of the country they reside in or whey they are located in at the time of using XDCSwaps. Cryptocurrencies face an uncertain regulatory landscape in many authorities. Many jurisdictions are currently reviewing their own Cryptocurrency laws and the user of XDCSwaps should constantly be aware of any changes. Laws and regulations may change the price of Cryptocurrency and users of XDCSwaps need to be aware of this. There is no guarantee that a person or a business who accepts a cryptocurrency as payment today will continue to do so in the future.
Anyone Investing into Cryptocurrency should make sufficient research into the legitimateness of each individual Cryptocurrency before investing.
Trading in Cryptocurrency involves trading against very experienced traders across the world, users of XDCSwaps need to be aware of this before looking to trade on our platform.
Effective development and deployment of XDCSwaps require the identification and addressing of a list of technological risks and challenges. The list includes privacy of data and transactions on the blockchain, security risks, performance-related limitations of the underlying blockchain platform, and integration-related issues with other systems.
Within Cryptocurrency, there's large cybersecurity risks with related wallets or on exchanges which may include hacking. Any keys to the access of your wallet should be kept private at all times. A cybersecurity event now matter how big or small could have an impact on a price on one or more related Cryptocurrency.
There's risks of web/mobile trading technology such as latency in prices given and other problems such as connectivity including poor Wifi signal or poor Data signal which may differ on the rates initially shown. The price on the XDCSwaps is an indication and may not necessary reflect the actual price at the time. XDCSwaps is not responsible for any changes in price of any tokens. Not all features may necessary be available when of XDCSwaps when using a mobile device.
XDCSwaps may require in the future for users to install and possibly download updates to ensure the smooth running of XDCSwaps. If this isn't done, there is risk the application may not work correctly.
We will look to reply swiftly getting to the root cause of any issues.
XDCSwaps are not responsible for:
- Phishing and Scam attacks
- Social Engineering attacks
- UI and UX bugs
- Error messages
*The term 'XDCSwaps' is a product owned by Blocksworkz DAO, UK*