Rare Protocol Terms of Service
Welcome to rare.xyz (the “Site”)! The Site is a non-custodial user experience that helps users enjoy the Rare Protocol (the “Protocol”), an open, decentralized curation protocol. The Site is owned, controlled, and operated by RareDAO Foundation, a non-profit Foundation company organized under the laws of the Cayman Islands and existing to serve the $RARE token holder and DAO community (“the Foundation”, “we”, “us,” or “our”). These Terms of Service (“Terms” or “Agreement”) are entered into between You (the “User(s)”) and the Foundation. These Terms govern your access to and use of the Site and your interaction with the Protocol, and any other software, websites, applications, API’s, webtools, third party tools, forums, venues, smart contracts, features, or functionalities provided on or in connection with the Site (collectively, the “Services”). Without limitation, these Terms govern your voluntary use of our Services. For the purposes of these Terms, “you” includes both you, the person or entity, and your digital wallet. The Foundation reserves the right to change or modify these Terms at any time and in its sole discretion.
Please read these Terms carefully. Aspects of these Terms limits certain rights, including the right to maintain a court action, the right to a jury trial, the right to participate in any form of class or representative claim, the right to engage in discovery except as provided in American Arbitration Association Consumer Arbitration rules, and the right to certain remedies and forms of relief.
To enjoy full functionality of the Services you must connect your third-party Ethereum-compatible digital wallet on a supported bridge extension, such as MetaMask, Formatic, Wallet Connect, and others supported on the Site. By connecting your digital wallet to the Site, you expressly represent that you are the lawful and rightful owner of the digital wallet. You are required to authenticate ownership of your digital wallet before you can perform transactions through the Services by cryptographically verifying, through your third-party bridge extension, your possession of the digital wallet’s associated passphrase. Your digital wallet transactions are broadcasted to the Ethereum blockchain through the applicable third-party bridge extension, which facilitates transactions on your behalf. By using your digital wallet in connection with the Services, you agree that you are using that wallet lawfully and under the terms and conditions of the applicable third party-wallet provider. Your digital wallet and all assets held therein are your personal property, and not the property of the Foundation. The Foundation has no responsibility or technical ability to manage, modify, secure, or perform transactions on behalf of your digital wallet. Neither the Foundation nor any of its directors, supervisors, the members of its council, officers, employees, advisors, agents, or representatives (collectively, the “Foundation Parties”) assume any responsibility or liability in connection with any such errors or misuses.
The Site is an implementation of a governance proposal that was proposed, developed, discussed, and approved by the $RARE token holder community - [SIP-16][Protocol-configuration] Proposal to Deploy Rare Protocol to Ethereum Mainnet (the “SIP”). In particular, this Site is designed to facilitate your experience of direct, on-chain curation as provided for in the community-approved SIP and the original whitepaper that described the vision for $RARE curation. You do not need to use the Site to access and enjoy the underlying curation Protocol.
The Protocol as accessible through the Site comprises a set of interrelated, non-custodial Ethereum “smart contracts” and on-chain registries that, among other things, enable users to lock-up, commit, dedicate, or “stake” their $RARE as a means of publicly signaling curatorial preference and claim curation fees that accrue in exchange for the provision of curation data. The Foundation does not control, manage, host, or operate the decentralized curation Protocol and assumes no responsibility or liability with respect to your or any third-party’s use of the Protocol.
Aspects of the Protocol are subject to change and governance by the $RARE token holder community. The following parameters are currently fixed by operation of the $RARE token holder governance and may affect your use of the Site and Protocol:
You acknowledge and agree that you have the opportunity to review, audit, ask questions about, and understand the Protocol smart contracts and the associated governable parameters. You acknowledge and agree that your use and enjoyment of the Protocol may depend on performing certain transactions within predetermined periods of time and that optimizing the time by which you perform certain transactions (i.e., staking $RARE on another User) may influence the relative benefit you receive from the transaction. Under no circumstance shall the Foundation or its services providers, agents, and be liable to you for any transaction, Ethereum blockchain state change, transaction output, or operation of the Protocol that you authorize, whether by action or omission. The Foundation assumes no responsibility for alerting you as to major Protocol changes or to remind you of important time frames concerning your use of the Protocol. The Foundation assumes no responsibility any liability caused by any third-party’s authorized or unauthorized use of the Protocol. You use the Protocol at your own risk
The $RARE Token in its current form represents a fractionalized, pro rata governance interest in the curatorial output of $RARE token ecosystem. As provided in the SIP, $RARE enables Users to lock-up, commit, dedicate, or “stake” their $RARE to publicly signal curatorial preference for other network participants and to secure a Protocol-enforced privilege to receive curation fees related to your staking decisions that are processed by the Protocol. The functionality of, privileges or rights associated with $RARE Token ownership may be modified, optimized, rescinded, and are otherwise subject to change by the Foundation and the independent efforts or decision making of $RARE token holders. $RARE Token holders are not entitled to profits and losses, no rights to distributions and dividends, and no rights to ownership of the Foundation. You agree that there are no rights, privileges, or benefits associated with $RARE Token ownership other than what is provided in these Terms. By using the Site, you hereby agree and acknowledge that (1) you are not doing so with the intent or expectation of profits from any appreciation in value or otherwise from the $RARE tokens, and that (2) you to the extent that you receive any $RARE tokens through your use of the Protocol, you receive such $RARE tokens as a curation fee paid to you in consideration for your provision of on-chain curation data.
You represent that you are knowledgeable, experienced, and sophisticated in using and evaluating blockchain and related technologies, digital assets, tokens, NFTs and “smart contracts.” You represent that you have sufficient knowledge, market sophistication, professional advice, and experience to make your own evaluation of the merits and risks of any transaction conducted via the Protocol or any underlying digital asset. You have conducted your own thorough independent investigation and analysis of the Protocol and the other matters contemplated by these Terms. You agree that you have had the full opportunity to review the Protocol smart contracts and all related functions, permissions, and information. You have not relied up-on any information, statement, omission, representation, or warranty, express or implied, written or oral, made by or on behalf of the Foundation in connection therewith, except as expressly set forth by Foundation in these Terms.
Users are forbidden from engaging in any attack against the Protocol, including any hack, Sybil attack, DoS attack, distributed denial-of-service of attack, “griefing” attacks, interference, or any other type of exploit or unfair misuse of any Protocol smart contracts. Users are forbidden from performing any Protocol transactions through the Services that would necessitate or result in the violation of applicable law. Operations that are functionally enabled by a Protocol smart contract may nevertheless be a violation of these Terms of Service and governing law. If your use of the Protocol results in an unexcepted, unjust, unfair, or disproportionate benefit to you, you may be required to relinquish possession of.
You may not use the Site or Services if you are located, incorporated or otherwise established in, or a citizen or resident of any state, country or other jurisdiction that is designated by the U.S. Secretary of State as a country supporting international terrorism, or to which U.S. nationals cannot lawfully engage in transactions as designated by the Office of Foreign Assets Control (“OFAC”), including Cuba, Crimea region of Ukraine, Democratic People’s Republic of Korea, Iran and Syria, Venezuela and you are not a person found on the OFAC Specially Designated Nationals, Blocked Persons List, or any other consolidated prohibited persons or sanctions list as determined by any applicable governmental authority. The Foundation reserved all rights to prohibit your access to the Site or Services if it determines, or suspects, that you are in violation of this Section.
As a condition to claiming $RARE, you acknowledge, understand, and agree to the following:
You may not use $RARE Tokens, the Site, or the Protocol to engage in any of the non-exhaustive categories of activity set forth below. By receiving $RARE Tokens, using the Site, or using the Protocol through the Site, you confirm that you will not:
THE FOUNDATION PARTIES DO NOT MAKE ANY WARRANTY WHATSOEVER WITH RESPECT TO THE TOKENS, INCLUDING ANY (i) WARRANTY OF MERCHANTABILITY; (ii) WARRANTY OF FITNESS FOR A PARTICULAR PURPOSE; (iii) WARRANTY OF TITLE; OR (iv) WARRANTY AGAINST INFRINGEMENT OF INTELLECTUAL PROPERTY RIGHTS OF A THIRD PARTY; WHETHER ARISING BY LAW, COURSE OF DEALING, COURSE OF PERFORMANCE, USAGE OF TRADE, OR OTHERWISE. EXCEPT AS EXPRESSLY SET FORTH HEREIN, YOU ACKNOWLEDGE THAT YOU HAVE NOT RELIED UPON ANY REPRESENTATION OR WARRANTY MADE BY THE FOUNDATION PARTIES OR ANY OTHER PERSON ON THEIR BEHALF. WITHOUT LIMITING THE GENERALITY OF THE FOREGOING, YOU ASSUME ALL RISKS AND LIABILITIES FOR THE RESULTS OBTAINED BY THE USE OF ANY TOKENS AND REGARDLESS OF ANY ORAL OR WRITTEN STATEMENTS MADE BY THE FOUNDATION PARTIES, BY WAY OF TECHNICAL ADVICE OR OTHERWISE, RELATED TO THE USE OF THE TOKENS.
THE FOUNDATION PARTIES SHALL NOT BE LIABLE TO YOU, AND YOU WILL INDEMNIFY, DEFEND AND HOLD HARMLESS THE FOUNDATION PARTIES, AND THE SUCCESSORS AND ASSIGNS OF THE FOREGOING, FROM AND AGAINST, ALL OR ANY PART OF ANY THIRD PARTY CAUSES OF ACTION, CLAIMS, LIABILITIES, LOSSES, COSTS, DAMAGES AND EXPENSES (INCLUDING, WITHOUT LIMITATION, ATTORNEYS’ FEES AND EXPENSES) (COLLECTIVELY “CLAIMS”) FOR DAMAGES TO OR LOSS OF PROPERTY ARISING OUT OF OR RESULTING FROM THE AIRDROP, EXCEPT TO THE EXTENT SUCH CLAIMS ARISE FROM THE GROSS NEGLIGENCE (AS INTERPRETED UNDER THE LAWS OF THE STATE OF DELAWARE) OR INTENTIONAL MISCONDUCT OF THE FOUNDATION.
THE FOUNDATION PARTIES SHALL NOT BE LIABLE TO YOU IN ANY ACTION OR CLAIM FOR INCIDENTAL, SPECIAL, CONSEQUENTIAL, INDIRECT, PUNITIVE, EXEMPLARY OR STATUTORY DAMAGES ARISING OUT OF OR RELATED TO THE AIRDROP, WHETHER THE ACTION IN WHICH RECOVERY OF DAMAGES IS SOUGHT IS BASED UPON CONTRACT, TORT, STATUTE OR OTHERWISE EVEN IF SUCH PARTIES HAS BEEN ADVISED OF SUCH POSSIBILITY OF SUCH DAMAGES. EXCEPT FOR LIABILITY ARISING FROM THE FOUNDATION’S FRAUD OR INTENTIONAL MISCONDUCT, THE FOUNDATION PARTIES’ AGGREGATE LIABILITY FOR ANY CLAIM OF ANY KIND, FOR ANY LOSS OR DAMAGE ARISING OUT OF, CONNECTED WITH OR RESULTING FROM THE TRANSACTION HEREIN SHALL IN NO CASE EXCEED THE FAIR MARKET OF THE TOKENS TRANSFERRED TO YOU. ANY ACTION RESULTING FROM ANY CLAIM ARISING UNDER THIS AGREEMENT MUST BE COMMENCED WITHIN ONE (1) YEAR AFTER THE CAUSE OF ACTION HAS ACCRUED.
Any claim or dispute arising from your receipt, transfer, use, or disposition of the Tokens will take place on an individual basis without resort to any form of class or representative action (the “Class Action Waiver”). THIS CLASS ACTION WAIVER PRECLUDES ANY PARTY FROM PARTICIPATING IN OR BEING REPRESENTED IN ANY CLASS OR REPRESENTATIVE ACTION REGARDING A CLAIM. Notwithstanding anything to the contrary, the validity and effect of this Class Action Waiver may be determined only by a court or referee and not by an arbitrator, and you acknowledge that this Class Action Waiver is material and essential to the arbitration of any disputes between the parties and is non-severable from any additional terms of the transaction described herein.
The interpretation and enforcement of these Terms, and any dispute related to these Terms will be governed by and construed and enforced under the laws of the Cayman Islands, without regard to conflict of law rules or principles that would cause the application of the laws of any other jurisdiction. Any legal action or proceeding arising under this Agreement will be brought exclusively in the courts located in the Cayman Islands and each party irrevocably consents to the personal jurisdiction and venue therein.