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Liquidity Program Terms & Conditions

Version No. 1.0, effective as of 30.08.2023

 

  1. GENERAL PROVISIONS

 

1.1. The Terms and Conditions set forth the general conditions for participation in the Program. Capitalized expressions in the Regulations are defined in section. 2.

1.2. The organizer of the Program is Data River spółka z ograniczoną odpowiedzialnością.

1.3. Under the Program, the Organizer makes a public promise within the meaning of Article 919 of the Act of April 23, 1964 of the Polish Civil Code to grant Benefits to the Beneficiary for the performance of designated activities, under the conditions specified in the Regulations.

 

 

2. DEFINITIONS

 

2.1. Civil Code – Law of April 23, 1964 Polish Civil Code.

2.2. UNISWAP – Decentralized cryptocurrency exchange available at: https://uniswap.org/

2.3 Program – a public promise organized by the Organizer for Beneficiaries.

2.4 Liquidity Pool – a reservoir of cryptocurrency funds, expressed in the pair $LAKE and $ETH, which operates on the basis of smart contract principles.

2.5 Beneficiary – means a person participating in the Program, who has funded the Liquidity Pool with a pair of crypto-assets: $LAKE and $ETH.

2.6. Benefits – means the rewards granted by the Organizer on the terms specified in the Terms & Conditions In the form of $LAKE.

2.7. Organizer – means the company referred to in item. 1.2., above.

2.8. Terms & Conditions – means these terms and conditions of the Program.

2.9. Website – https://app.data-lake.co

2.10. $LAKE – Token – the token of the Organizer with the designation ERC 20 issued on Mainnet Ethereum with the Smart Contract address: 0xF9Ca9523E5b5A42C3018C62B084Db8543478C400.

2.11. Application  – an application available on http://app.data-lake.co/

2.12. V3-Staker – smart contract owned by Uniswap available at Mainnet Ethereum: 0xe34139463bA50bD61336E0c446Bd8C0867c6fE65

 

3.  CONDITIONS FOR JOINING THE PROGRAM

 

3.1 The Program allows Beneficiaries to obtain the right to obtain Benefits. In order to obtain the right to Benefits, the candidate should meet the following conditions together:

3.1.1. Be the owner of $LAKE.

3.1.2. Enter the $LAKE and $ETH pair into the Liquidity Pool via Uniswap V3.

3.1.3. Stake the NFT representing the $ETH and $LAKE pair in the Liquidity Pool using Application.

3.1.4. Read and accept the Terms and Conditions.

3.1.5. Have full legal capacity.

3.1.6. Be a subject to a jurisdiction that allows the possession of cryptocurrencies and that assumes cryptocurrencies do not constitute financial instruments or/and securities.

3.1.7. Not be a consumer within the meaning of Article 21(1) of the Civil Code.

3.1.8. The programme runs from 30. 08. 2023 to 28.0 8. 2024

 

3.2 For joining the Program, the Beneficiary shall be entitled to Benefits, including in particular:

 

3.2.1. The corresponding amount of $LAKE depending on the amount of $LAKE and $ETH credited to the Liquidity Pool on DEX Uniswap and the placement of its NFT in the V3-Staker contract.

3.2.2.The amount of Benefits that the Beneficiary is entitled to receive depends on:

a) the volume of the token pair, $ETH and $LAKE, delivered by the Beneficiary to the Liquidity Pool and to the V3-Staker contract, as well as the volume of the token pair $ETH and $LAKE delivered to the Liquidity Pool and to the V3-Staker contract by third parties .The greater the proportion of volume delivered by the Beneficiary,the higher the potential Benefits will be.

b) The time taken to deliver the Liquidity Pool and leave the NFT in the V3-STaker – the longer, the higher the potential Benefits will be

c) The amount of the total Benefit

 

3.2.3. The amount of Benefits regularly allocated to the Beneficiary during the term of the Program may change at any time, as it is influenced by several factors, such as the volumes registered by traders on the $LAKE-$ETH pair, the amount of liquidity provided to the Liquidity Pool and placed in the V3-Staker contract, the value of $LAKE, the value of $ETH and any changes in the Uniswap fee structure.

3.2.4 Once $LAKE and $ETH have been added to the Liquidity Pool on Uniswap and the NFT received has been placed into the V3-Staker contract, the Beneficiary will be able to collect the Benefits generated in the form of $LAKE into their cryptocurrency wallet upon withdrawal of the NFT from the V3-Staker contract. The Benefits due will be allocated upon withdrawal of the NFT from the V3-Staker contract in proportion to the share of all Beneficiaries in the Liquidity Pool and the V3-Staker contract.

3.2.5 It will be possible to collect the allocated benefits via the Application and through direct interaction with the V3-Staker Smart Contract.

3.2.6 The estimated amount of benefits for participation in the pool will be visible through the Application, although the actual amount of benefits received may vary, for the reasons described in clause 3.2.2.

3.2.7 The Organizer is not responsible for the estimated amount of Benefits, access to the application is governed by the terms of service, available at: https://app.data-lake.co/terms-and-conditions.

 

3.3. The programme runs until 28.08. 2024 or until the end of the Liquidity Pool delivery.

 

4. CANCELLATION OF PARTICIPATION IN THE PROGRAM

 

4.1. The Beneficiary has the right to resign from participation in the Program at any time and without giving any reason.

 

5. Limitation of Liability

 

5.1. To the maximum extent permitted by applicable law, the Organizer assumes no liability for any direct, indirect, incidental, special, consequential, or exemplary damages that result from Beneficiary participation in the Liquidity Pool.

5.2 In particular, the Organizer is not responsible for the operation of Uniswap as a third party and thus for the correct operation of the Liquidity Pool related to the operation of Uniswap and the correct operation of the V3-Staker contract.

5.3 The Organizer is not responsible for the availability of the Ethereum Mainnet, the Uniswap service and the V3-Staker Contract, including in the event of a security breach of the Uniswap platform, and an error in the V3-Staker Contract.

 

6. CHANGES TO THE TERMS & CONDITIONS

 

6.1. The current text of the Terms & Conditions is available on the Website.

6.2. The Organizer reserves the right to change the Terms & Conditions for important reasons. Valid reasons shall be understood as, in particular, changes in the functionality of $LAKE, changes in applied technical solutions, changes in laws, interpretations or practices of state authorities. All changes will be communicated to the Beneficiaries through announcements on the Website.

6.3 Amendments to the Terms & Conditions shall become effective 30 days after the date of publication of the announcement on the Website.

6.4. Without prejudice to any other rights under the Terms & Conditions, in case of non-acceptance of changes to the Terms & Conditions, the Beneficiary shall be entitled to terminate the Terms & Conditions in accordance with the procedure referred to in clause 4.

 

7. DISPUTE RESOLUTION

 

7.1. Any disputes arising from or in connection with these Terms & Conditions will be governed by the laws of Poland. Organizer and Beneficiaries irrevocably agree to submit all disputes arising from or in connection with these Terms & Conditions to the exclusive jurisdiction of the courts of Warsaw, Poland.

 

8. FINAL PROVISIONS

 

8.1 In matters not regulated by these Terms & Conditions the generally applicable provisions of Polish law shall apply.

8.2 Unless the provisions of the Terms & Conditions provide otherwise, all notices and statements, questions, complaints or suggestions addressed to the Organizer should be submitted in the form of e-mail to the address [email protected].

 

Annex 1  to the Terms and Conditions

 

General Information About the Risk

 

$LAKE tokens have characteristics close to virtual currencies under the Directive (EU) 2018/843 of the European Parliament and of the Council of 30 May 2018 amending Directive (EU) 2015/849 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing and amending Directives (Official Journal of the European Union, L 156/43).

It means that the $LAKE will be a digital representation of value that is not issued or guaranteed by a central bank or a public authority, is not necessarily attached to a legally established currency and does not possess a legal status of currency or money but is accepted by natural or legal persons as a means of exchange and which can be transferred, stored and traded electronically.

 

The Organizer cannot guarantee the value of the $LAKE or the possibility of its practical use, in particular to pay for goods or services with it.

 

In view of the risks described in this Annex, the Program is not intended for consumers within the meaning of European Union law.

 

The potential use of $LAKE is based on assumptions about the future, which is associated with the risk of unforeseen events and, as a consequence, there is the possibility of loss of value of LAKE Tokens or the inability to use them.

 

The Organizer declares that:

  1. $LAKE tokens may lose their value in part or in full;
  2. $LAKE tokens may not always be transferable;
  3. $LAKE tokens may not be liquid;
  4. $LAKE tokens may not be exchangeable against the good or service promised in White Paper, especially in case of failure or discontinuation of the project.

 

The White Paper available at: https://data-lake.co/wp-content/uploads/2022/07/DL-Whitepaper-1.8-5-1-1.pdf states the current views of the Organizer concerning the $LAKE project and related matters. The Organizer may from time to time revise this White Paper in any respect without giving any notice. The information entered in White Paper is indicative only and is not legally binding on the Organizer or any other party. The information in this White Paper may not be exhaustive and does not imply any elements of a contractual relationship. While we make every reasonable effort to ensure that all the information in the White Paper is accurate and up to date, such material in no way constitutes professional advice. Individuals intending to buy the $LAKE should seek independent professional advice.

 

The Organizer does not recommend purchasing $LAKE for speculative investment purposes. $LAKE tokens do not entitle you to any equity, governance, voting or similar right or entitlement in the Organizer or in any of its affiliated companies. $LAKE tokens are sold as digital assets, similar to downloadable software, digital music and the like. The Organizer does not recommend that you purchase $LAKE tokens unless you have prior experience with cryptographic tokens, blockchain-based software and distributed ledger technology and unless you have taken independent professional advice. The Organizer does not make or purport to make, and hereby disclaims, any representation, warranty or undertaking in any form whatsoever to any entity or person, including any representation, warranty or undertaking in relation to the truth, accuracy, and completeness of any of the information set out in the White Paper and other documents. You should carefully consider and evaluate each of the risk factors and all other information issues by the Organizer before deciding to buy $LAKE tokens.

 

Each investment carries the risk of losing all or part of the invested funds. Taking each investment decision is connected with the need to assess the impact of risk on the result of the investment.

 

The most significant aspects of the risk related to investing in $LAKE tokens are listed below.

 

  1. Exchange rate volatility risk (market risk) – there is a risk that the $LAKE price will change to the investor’s disadvantage. Tokens are particularly volatile. Single transactions can significantly affect their value. The exchange rate of tokens may be influenced by macroeconomic indicators characteristic of most instruments, i.e. interest rates, unemployment rate, economic growth, inflation level, political situation. The exchange rate of tokens is also significantly influenced by events closely related to the virtual currencies market, e.g. hacking attacks weakening the trust in entities providing services related to trading in virtual currencies.

 

  1. Regulatory risk – a change in the law, as well as the adoption of an official position by competent supervisory authorities on the legal qualification of virtual currencies, may directly or indirectly affect the economic situation of investors, and thus the value of the $LAKE.

 

  1. Technological risk – according to the current state of science, it is nearly impossible to break the blockchain register, however, entities providing services related to trading virtual currencies are exposed to hacking attacks, which may result in the loss of all or part of $LAKE tokens.  Repeated cyber-attacks may also lead to loss trust in all technology and, consequently, the complete loss of value of virtual currencies.

 

  1. Liquidity risk – there is a risk that the $LAKE cannot be sold without adversely affecting its price. There may also be a situation where the sale of $LAKE tokens will not be possible at all.

 

  1. Risk of lack of guarantee – investing in $LAKE tokens is structurally different from a bank deposit and is not covered by any benefit guarantee system. In particular, an investment in $LAKE tokens is associated with the risk of losing all or part of the invested funds.
  2. Operational risk – the Organizer undertakes to adhere to the highest professional standards, to keep due diligence and to do its utmost to achieve the goals specified in this White Paper. However, the Organizer cannot guarantee achieving these goals. Therefore, there is a risk of possibility of using inappropriate or defective systems, including human errors, technical failures and external events that may affect the Organizer’s operations, and thus cause failure or discontinuation of the project.

 

The types of risks associated with investing in $LAKE described in this document may exist alone, however, in some cases they may also accumulate due to the correlations between them. The investor should be aware of the possibility of a situation in which, as a result of a cause-and-effect sequence, several types of risk will materialize.

 

Investment in $LAKE is not covered by the deposit guarantee schemes established in accordance with Directive 2014/49/EU of the European Parliament and of the Council nor is covered by the investor compensation schemes established in accordance with Directive 97/9/EC of the European Parliament and of the Council.

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