Terms & Conditions

IT IS IMPORTANT YOU READ THESE TERMS CAREFULLY BEFORE MAKING USE OF OUR SERVICES OR DEALING IN TOKENS. BY USING OUR SERVICES OR DEALING IN TOKENS, YOU INDICATE THAT YOU ACCEPT THESE TERMS AND AGREE TO COMPLY WITH THESE TERMS. IF YOU USE OUR SERVICES IN THE COURSE OF YOUR BUSINESS OR WORK, YOU ARE ALSO AGREEING TO THESE TERMS ON BEHALF OF THAT BUSINESS. IF YOU DO NOT AGREE TO THESE TERMS, YOU MUST NOT USE OUR SERVICES.

YOU SHOULD CAREFULLY CONSIDER WHETHER USING OUR SERVICES IS SUITABLE AND APPROPRIATE FOR YOU IN LIGHT OF YOUR OWN FINANCIAL SITUATION AND ATTITUDE TO RISK, AS EVALUATED BY YOU CAREFULLY. WE DO NOT MAKE ANY REPRESENTATIONS OR RECOMMENDATIONS REGARDING THE ADVISABILITY OR OTHERWISE OF USING OUR SERVICES OR OTHERWISE DEALING IN ANY CRYPTOASSETS. IF YOU ARE UNSURE AS TO WHETHER USING OUR SERVICES OR OTHERWISE DEALING IN ANY CRYPTOASSETS IS SUITABLE FOR YOU, YOU SHOULD SEEK INDEPENDENT PROFESSIONAL ADVICE PRIOR TO MAKING A DECISION. USING OUR SERVICES DOES NOT GIVE YOU THE BENEFIT OF ANY INVESTOR PROTECTION OR ANY COMPENSATION SCHEME. USING OUR SERVICES INVOLVES A HIGH DEGREE OF RISK TO YOUR CAPITAL, INCLUDING A POTENTIAL TOTAL LOSS OF CAPITAL.

THESE TERMS APPLY TO ALL DEALING IN TOKENS AND USE OF OUR SERVICES FROM TIME TO TIME. AS THESE TERMS MAY BE UPDATED FROM TIME TO TIME, YOU SHOULD CHECK THEM EACH TIME YOU USE OUR SERVICES OR DEAL IN TOKENS.

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INTRODUCTION

These terms and conditions, together with any documents and policies referred to in them (these “Terms”) set out the agreement between you and Altitude Protocol Inc, a company incorporated under the laws of Panama, whose registered office is Bloc Office Hub, Fifth Floor, Santa Maria Business District, Panama, Republic of Panama (“Altitude" “we”, “us”, “our”) in relation to our provision to you of our Services.

If you have any questions concerning these Terms, please contact us at contact@altitude.fi. We recommend that you keep a copy of these Terms for future reference.

YOU AND WE AGREE AS FOLLOWS:

1. INTERPRETATION

In these Terms the following words and expressions have the following meanings unless inconsistent with the context:

“Allocation Proposal(s)” - refers to a submission made by you in relation to changes to the Yield Generation Process or the Lender Determination Process, which submission may be made via such mechanism as we may prescribe from time to time;

“Altitude Group” - means us, any subsidiary or any holding company from time to time of us, and any subsidiary from time to time of a holding company of us;

“Altitude Token(s)” - refers to the token that gives holders the ability to vote on Governance Matters and which has the features set out at Schedule 2;

“Applicable Law(s)” - means all laws, statutes, regulatory rules and regulations that apply to a Party in connection with these Terms from time to time;
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‍“Cryptoasset” - means those supported cryptoasset(s) (including Wrapped Cryptoassets) which our Services support from time to time (a description of supported cryptoassets is set out in the Yield Generation Process);

“Discord Channel” - refers to our discord channel, available via an invite link on the Website;

“Governance Matter(s)” - refers to matters which relate to the operation or governance of Altitude itself;

“Lender Determination Process” - refers to the process which we follow in relation to determining the Third Party Lender(s) use. A copy of the Lender Determination Process is available on our Website;

"Liquidation Threshold” - has the meaning set out at Clause 2.1.2;

“Party”, “Parties” - you and us as the parties to these Terms;

“Services” - our services as set out in Clause 2;
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‍“Supply Token(s)” - refers to the supply token which has the features set out at Schedule 2;

“Token(s)” - refers to both Supply Tokens and Altitude Token as applicable to each user of our Services;

“Third Party Lender(s)” - refers to the third party lender(s) you access from time to time via our Services, as set out on our Website;

“Vault” - a vault refers to a specific strategy you can use in connection with a Yield Generation Process;

“Virus” - means any viruses, bugs, vulnerabilities, glitches, weaknesses, spyware, malware, adware or other harmful or deleterious programs, material, code and / or software;

“Voting Platform” - refers to the mechanism by which Token holders may submit votes, which may be Snapshot or such other mechanism as we may prescribe from time to time;

“Wallet” - refers to the third-party wallet you use to hold cryptoassets;

“Website” - means https://altitude.fi and https://app.altitude.fi and https://docs.altitude.fi;

“Wrapped Cryptoasset” - means the list of wrapped cryptoasset(s) we support and accept as collateral from time to time in connection with our Services (a list of the supported wrapped cryptoassets is available on our Website); and
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‍“Yield Farm(s)” - refers to the third party yield farms which we deposit Cryptoassets into in order to generate a profit; and

“Yield Generation Process” - refers to the process which we follow in relation to determining the value of Cryptoassets we deploy to Yield Farms, how we determine which Yield Farm(s) we use and our process for deploying Cryptoassets to Yield Farms. A copy of the Yield Generation Process is available on our Website. Please note that the Yield Generation Process does not include matters such as: (i) the value of Cryptoassets you may borrow from Third Party Lender(s); (ii) the point at which we may automatically liquidate Wrapped Cryptoassets in accordance with Clause 2.1.3; (ii) the amount of Wrapped Cryptoassets we may liquidate in accordance with Clause 2.1.3.
Headings are for convenience only and have no bearing on the interpretation of these Terms.
References to “you” or “your” is to any person who uses our Services pursuant to these Terms. References to “dealing in” or “deal in” are references to any participation in cryptoassets including buying, acquiring, accepting, borrowing, lending, holding, staking, selling, disposing of and / or otherwise making use of cryptoassets. Any phrase introduced by the term “include”, “includes”, “including”, “in particular”, “such as”, “for example” or any similar expression will be construed as illustrative and will not limit the sense of the words preceding that term.
In these Terms unless the context otherwise requires: references to these Terms shall include the Schedules to them and references to Clauses, Sub-clauses and Schedules are to Clauses of, Sub-clauses of, and Schedules to these Terms; the singular includes the plural and vice versa; “person” denotes any person, partnership, corporation or other association of whatever nature; and any references to any directive, statute, statutory instrument, laws or regulations shall be references to such directive, statute, statutory instrument, laws or regulations as from time to time amended, re-enacted or replaced and to any codification, consolidation, re-enactment or substitution thereof as from time to time in force.

2. OUR SERVICES

When you lock-up Wrapped Cryptoassets with us:
1. your Wrapped Cryptoassets are locked-up in smart contracts operated by us and / or Third Party Lender(s).
2. you may borrow Cryptoassets from Third Party Lender(s), up to the value permitted by us and as specified on our Website from time to time (the “Liquidation Threshold”). Details of the Third Party Lender(s) are as provided on our Website.
3. in the event that the value of Cryptoassets you borrow from Third Party Lender(s) exceeds the Liquidation Threshold, an amount of Wrapped Cryptoassets you have locked-up with us can be liquidated to reduce the amount owed to the Third Party Lender(s). The amount that can be liquidated will be as specified on our Website from time to time. You can mitigate against the risk of Wrapped Cryptoassets being liquidated by locking up a larger reserve of Wrapped Cryptoassets in the smart contracts operated by us.
4. in accordance with the Yield Generation Process, and provided that the Liquidation Threshold is maintained, you may instruct us to:
  1. realized yield generated by the Yield Farm (after deduction of our fees) shall (i) initially be accrued against your loan repayment obligations and the interest accrual obligations you incur; and (ii) if your loan repayment value is nil shall accrue to your account in the smart contracts.
  2. you shall receive Supply Tokens, which represent a receipt for the Wrapped Tokens you have locked-up in the smart contract as well as any realized yield. You may at any time use your Supply Tokens to access your Wrapped Cryptoassets as well as your realized yield held in the smart contracts, provided that the value of Cryptoassets borrowed from any Third Party Lender does not exceed the Liquidation Threshold.
deploy your lock-up Wrapped Cryptoassets into Yield Farm(s); and / or
use your lock-up Wrapped Cryptoassets as collateral to borrow Cryptoassets which will then be deployed into Yield Farm(s).
Notwithstanding Clause 2.1, we reserve (at our sole discretion) the right to block your ability to access your Wrapped Cryptoassets or realized yield if you owe anyone payment of any amount in connection with our Services.
You may also separately deal in Altitude Tokens, which enable you to vote on Governance Matters in accordance with these Terms.
Only persons who have been whitelisted for this purpose may trigger the realization of yield by Yield Farm(s), and such person(s) may or may not be us or a Token holder. As this is outside of our control, we are not responsible or liable for any realization or for any consequences of any realization (which may include tax consequences).
In providing our Services we will follow the Lender Determination Process and Yield Generation Process unless there is a determination by the majority of the Supply Token holders that a change to the Lender Determination Process or Yield Generation Process should be made. In order to make such a change, you or we may submit an Allocation Proposal in accordance with Clause 4. Allocation Proposals made be made in relation to matters such as:
which Third Party Lender is used (in accordance with the Lender Determination Process); and / or
which Yield Farm(s) are used and how they are utilized (in accordance with the Yield Generation Process).
Please note that the Yield Generation Process and Lender Determination Process do not include, and so you do not have the ability to submit an Allocation Proposal, as regards the following matters: (i) the value of Cryptoassets you may borrow from a Third Party Lender; (ii) the point at which we may automatically liquidate Wrapped Cryptoassets in accordance with Clause 2.1.3; (iii) the amount of Wrapped Cryptoassets we may liquidate in accordance with Clause 2.1.3.
We do not:
1. provide, nor do we accept responsibility for, any legal, tax or accounting advice;
2. provide any investment advice or advice in connection with dealing in Cryptoassets and Tokens; and
3. accept any obligation to ensure that the Tokens have any features or rights other than as explicitly set out in Schedule 2.
4. You are responsible for looking after the Cryptoassets and Tokens you hold, and we do not accept any responsibility if, for example, you lose your private keys or if your Wallet in which you hold Cryptoassets or Tokens is compromised.
5. We shall perform our Services in accordance with all generally accepted standards and practices applicable to our Services or services similar to our Services.
6. No action we take should be taken as implying or indicating any preference by us of any particular Cryptoasset, nor of any approval or endorsement of any Cryptoasset.

3. ELIGIBILITY TO USE OUR SERVICES

Prior to gaining access to our Services, you will need to complete onboarding via our Website. This includes connecting a compatible Wallet from which to use our Services and receive Cryptoassets and Tokens, and you are responsible for ensuring that your Wallet is compatible with the requirements to receive our Services, further information on which is available via our Website.
In using our Services, you at all times confirm and represent that you:
1. (if you are a body corporate) are duly organised and validly existing under the laws of the jurisdiction of your establishment, and have full power, authority and right to bind yourself to these Terms and to receive our Services, including as regards performing all actions and obligations under these Terms, which therefore constitute valid and legally binding obligations;
2. (if you are an individual), are at least 18 years old and eligible to agree to these Terms and all related obligations, including as regards any age, residency, legal capacity, competency and all other requirements;
3. are not a citizen or resident of, or a legal entity in:
  1. any jurisdiction which would require us to have any licence in connection with the provision of our Services;
  2. any jurisdiction which would require you to have any licence in connection with the receipt of our Services where you do not have this licence;
  3. China; or
  4. any country or territory which appears on the sanctions lists of the Office of Foreign Assets Control of the U.S. Department of Treasury (“OFAC”), United Nations Security Council (“UNSC”), Her Majesty’s Treasury (“HMT”) or any other sanctions list.
4. are not listed on or otherwise controlled by a person listed on the sanctions lists of OFAC, UNSC, HMT or any other sanctions list.
5. (other than as set forth in these Terms) are not relying upon any other representation or warranty by the Altitude Group or any other person, written or otherwise, in determining whether to use our Services;
6. understand these Terms and our Services are subject to the risks associated with our Services, including those set out at Schedule 1, and you expressly acknowledge and assume these risks, and the Altitude Group are not liable should they materialize;
7. understand that the use of any Voting Platform may be subject to the separate terms of the third party of the Voting Platform, and you represent that (i) you accept and will comply with these as applicable to you and (ii) you understand that we are not responsible for them;
8. understand these Terms do not constitute a prospectus, offering memorandum or private placement memorandum of any sort, and do not pertain in any way to be an initial public offering, other share/equity offering or any other kind of regulated offering;
9. are responsible for your storage of your Tokens and other cryptoassets, including as regards (i) complying with any requirements of any provider you elect to use in connection with your Wallet; (ii) ensuring that the Wallet you use to hold your Tokens and other cryptoassets is compatible with their requirements; and (iii) ensuring that they, and any private key or access credentials used to access them, are kept secure as we are not responsible for any loss as a consequence of you losing your private key or access credentials;
10. have to your full satisfaction been furnished with any information that you may require in relation to these Terms and our Services, and have reached your independent view regarding whether our Services are right for you;
11. understand that these Terms, the Tokens and our Services are not intended to constitute the provision of a regulated investment nor the carrying on of a regulated activity;
12. are comfortable that you have the necessary and relevant experience, knowledge and understanding regarding dealing in cryptoassets generally, including sufficient understanding of their risks, functionality, usage, storage, transmission mechanisms and the intricacies associated with them, to be able to competently use our Services;
13. accept that the Altitude Group reserves the right to create new classes of tokens under separate brands and with features outside of the scope of these Terms. Nothing in these Terms shall entitle you to have any rights (of whatever nature) in relation to such tokens;
14. accept that the Tokens are created, and you obtain the Tokens and receive our Services, on an “as is” basis and without any warranty in relation to merchantability or fitness for a particular purpose;
15. have not received any advice from us regarding whether you should use our Services and you are solely responsible for any evaluations, decisions and actions you make concerning these Terms;
16. understand, agree and accept that whilst the Altitude Group will make reasonable efforts to maintain the availability of our Services and Website, it is possible that such maintenance may fail and there may be times when you may not be able to access part or all of our Services or Website;
17. all information you will and have supplied to the Altitude Group is up to date, accurate and not misleading, and you will provide the Altitude Group with any additional information which the Altitude Group may reasonably require in order that the Altitude Group can fulfil its legal, regulatory and contractual obligations, including but not limited to any anti-money laundering obligations;
18. are not using our Services for any purpose which would breach Applicable Law;
19. waive any right you may have to participate in a class action lawsuit or a class wide arbitration against Altitude Group in relation to and in connection with these Terms;
20. you accept that, to the extent permitted by Applicable Law and provided we act in good faith, the Altitude Group make no warranty whatsoever, either expressed or implied, regarding the future success of the Tokens, our Services nor the Altitude Group;
21. will not republish, redistribute or re-transmit any intellectual property provided in relation to the Altitude Group, the Tokens and our Services or otherwise copy or store such intellectual property, other than for your use of our Services as permitted by the Altitude Group;
22. will not attempt to circumvent the security of or interfere with the proper working of the Tokens, our Services or any server on which they are hosted, or otherwise introduce, or permit the introduction of, any Virus into any of our Services or Tokens; and
23. accept that you bear sole responsibility for determining if your participation in these Terms and use of Services has tax implications and for complying with any obligations you have in relation to tax. Tax treatment depends on your individual circumstances and may be subject to change in the future. Please note that taxes and costs may exist that are not paid via us nor are not imposed by us.
We may, from time to time, include links to the sites of third parties, including (potential) Third Party Lenders and (potential) Yield Farms. We include these to provide you with access to information that you may find useful or interesting in connection with your submission of Allocation Proposals or your ability to vote on Allocation Proposals. We are not responsible for the content of these sites and do not guarantee that they will be continuously available, nor are we responsible for any inaccuracy, incompleteness of the information contained in these sites, nor are we responsible if information provided is not up-to-date. The fact that we include links to such external sites does not imply any endorsement of them nor that we take any responsibility in relation to them.

4. ALLOCATION PROPOSALS AND VOTING‍

Supply Tokens

Holders of one or more Supply Tokens may submit Allocation Proposals for voting as follows:
1. Supply Token holders may submit an Allocation Proposal via the Voting Platform. Submitted Allocation Proposals shall be published on either our Discord Channel or our Website;
2. once an Allocation Proposal is published, each Supply Token shall be deemed to represent a vote which can be exercised by its holder. Holders can vote on an Allocation Proposal via the Voting Platform and:
  1. if the holders of a sufficient number of votes (i.e. Supply Tokens) vote in favour of an Allocation Proposal option, such that it is not possible for other vote holders to outvote those in favour of that option, the Allocation Proposal shall be deemed passed; otherwise
  2. Supply Token holders will have 24 hours in which they can vote on an Allocation Proposal, after which the Supply Token holdings of those who have not voted will be disregarded. At the end of the voting period, the outcome of the Allocation Proposal shall be determined by whichever option has the largest the number of votes in its favour; however
  3. in the event of extreme market conditions, such as where there is extreme volatility in the cryptoasset markets, a black swan event, a security risk or a risk of a total or near total loss of value, we reserve the right to reduce the time period which Supply Token holders have in which they can vote on an Allocation Proposal; and
3. we will comply with any approved Allocation Proposal and update the Protocol accordingly.
For the avoidance of doubt:
1. the voting power of each voter shall be determined by reference to the number of Supply Tokens held by each voter (Altitude does not vote on any Allocation Proposals).
2. in the absence of our fraud, we are not liable for any decision we make in relation to Clause 4.1.2.3.
It is important to note that we do not review any Allocation Proposals prior to them being posted for voting. However, notwithstanding Clause 4.1, we may:
1. not comply with any Allocation Proposal if we believe (i) it would risk us or our users becoming in breach of any Applicable Law or regulatory expectation; (ii) the Allocation Proposal is insufficiently clear for us to be able to comply with the changes recommended or is nonsensical; (iii) the Allocation Proposal is deemed by us as manifestly harmful to users of our Services; or (iv) is fraudulent, creates a risk of market manipulation or market abuse, or otherwise breaches a contractual obligation you or we are subject to.
2. require a minimum number of votes and / or voters in order for any Allocation Proposal to be accepted, in which case we will provide details of such prior to voting.
3. impose limits on the voting power of any user of our Services in order to comply with any Applicable Law, as well as reasonably required to prevent a monopoly of decision making by a single user. ‍

Altitude Tokens

We may allow holders of Altitude Tokens to vote on Governance Matters we submit for voting as follows:
1. we publish Governance Matters for voting on either our Discord Channel or our Website;
2. once a Governance Matter is published, all Altitude Token holders will have at least 24 hours in which they can vote on the Governance Matter via the Voting Platform;
3. the voting power of each voter shall be determined by reference to the number of Altitude Tokens held by each voter; and
4. we will comply with any approved Governance Matter vote.
Notwithstanding Clause 4.3, we may:
1. require a minimum number of votes and / or voters in order for any proposed Governance Matter to be accepted, in which case we will provide details of such prior to voting.
2. impose limits on the voting power of any user of our Services in order to comply with any Applicable Law, as well as reasonably required to prevent a monopoly of decision making by a single user.
3. not comply with a vote in favour of anything that is in breach of Applicable Law, or which is in our view clearly malicious or harmful.

5. OUR LIABILITY

Notwithstanding the rest of this Clause 5, nothing in these Terms shall limit or exclude our liability for fraud, fraudulent misrepresentation, death or personal injury, or any other liability to the extent that it may not be limited or excluded by Applicable Law.
We are in no event liable for any losses other than those caused directly and reasonably foreseeably by our gross negligence (and in no event shall we be liable for any indirect or consequential losses, nor for any loss of profit, revenue, contracts, data, goodwill or other similar losses). We are not liable for any loss (of whatever nature) as a result of:
1. anything you accept under Clause 3 or which is otherwise not our responsibility;
2. one or more the risks set out at Schedule 1 materialising;
3. your breach of these Terms;
4. any action or inaction, or any issue with, or loss caused by any person other than us (including any Third Party Lender, Yield Farm or Voting Platform) – and in this respect, we note that we may have done minimal to no due diligence on a third party used in connection with our Services, for example where the use of such is a result of a successful passing of an Allocation Proposal submitted by a Supply Token holder;
5. any issue you have with your storage of the Tokens and Cryptoassets;
6. any issue or loss caused by the realization of profits or losses generated via a Yield Farm, or their conversion in accordance with the Yield Generation Process;
7. us exercising any of our rights under these Terms;
8. you sending Tokens or Cryptoassets to a person other than us or sending us defective Tokens or cryptoassets; and / or
9. events otherwise outside our reasonable control.
Whilst we do not accept any liability in respect of loss in connection with any Third Party Lender or any Yield Farm, and do not accept any obligation to make any claim against such on your behalf, we may, at our sole discretion, make a claim against any Third Party Lender or any Yield Farm on behalf of the Supply Token holders. We shall have sole discretion regarding the conduct of such claim, including as regards any decision to discontinue such claim. In the event that we receive any compensation from such claim, it shall be attributed to the Supply Token holders in accordance with the Yield Generation Process, minus our costs incurred (including our legal fees and a reasonable fee for our time spent in connection making such claim).
Although we will take all reasonable care to ensure all electronic communications and attachments we send you are free from any known Virus, we will not be responsible for any loss or damage resulting from any attack by a third party on our systems, or for any Virus or any other malicious or technologically harmful material that may infect your computer equipment, computer programs, data or other material due to your use of our Services. You acknowledge and accept the risks inherent in communicating by email, particularly of its unauthorised interception and of it not reaching the intended recipient.
Our total liability for losses of whatever nature in relation to these Terms shall not exceed the fees paid by you to us in connection with them.

6. YOUR LIABILITY

You agree to indemnify the Altitude Group for any losses that arise from or relate to:
1. any breach by you of any Applicable Law in your jurisdiction;
2. your breach of the rights of any person (including rights of privacy and intellectual property rights);
3. any regulatory inquiry, legal action, litigation, dispute or investigation, whether such situations occur or are anticipated, that relate to you; and
4. any loss resulting from your breach of these Terms.
Losses for the purposes of this Clause 6 include direct and indirect losses, as well as any costs and expenses (including legal fees) in relation to dealing with claims, demands and / or actions.

7. FEES

Our fees are set out on our Website. Please note that it is possible that taxes or costs may exist in addition to those which we pay or impose, and you are responsible for paying these.
We have the right to set-off any amounts you owe against any Cryptoassets you hold via our Services.
Any amounts you owe for whatever reason under these Terms shall become due and payable immediately on termination of these Terms.

8. NO CANCELLATION OR REFUND RIGHTS

We do not provide refunds or cancellation rights. The value of Tokens and Cryptoassets is dependent on fluctuations in financial market which cannot be controlled by us.

9. COMMENCEMENT AND TERMINATION

These Terms shall take effect and bind the Parties to them with effect from the earlier of the date on which you (i) deal in Altitude Tokens or (ii) otherwise use our Services, and shall take effect until the date you both cease (a) dealing in Altitude Tokens and (b) using our Services.
You may terminate your agreement with us under these Terms at any time with immediate effect by both (i) disposing of and no longer dealing in Altitude Tokens and (ii) withdrawing all of your Wrapped Cryptoassets and realized yield and ceasing to use our Services.
We may terminate all or part of the provision of our Services to you under these Terms at any time by giving you reasonable notice as practicable. In certain situations, termination may be with immediate effect on giving notice (for example where required to comply with Applicable Law or to mitigate a serious security issue).
Where termination of our Services is in connection with one or more Vaults specifically, then those Vaults shall cease earning any yield in connection with any Cryptoassets locked-up in connection with them, and we shall cease providing support to those Vaults. You must therefore redeem all of your Supply Tokens in relation to terminated Vaults and immediately withdraw your Cryptoassets from them, as we are not responsible for any loss, for any reason, in connection with any Cryptoassets not withdrawn from the terminated Vaults.
Where termination of our Services is in connection with the provision of our Services generally, then:
1. you must immediately redeem all of your Supply Tokens and withdraw your Cryptoassets from our Services as we shall not longer accept any obligation to support them, and you shall no longer have any right to earn any yield in relation to them. We are not responsible for any loss, for any reason, in connection with any Cryptoassets not withdrawn from our Services.
2. we reserve (at our sole discretion) the right to disregard the votes of any Tokens which we believe are under your control.
If five (5) years after termination you have still not withdrawn the affected Cryptoassets you shall be deemed to have given up all of your rights to them, which shall then pass to us. This means that you will lose your rights to the affected Cryptoassets, which shall therefore pass to us absolutely and you shall receive nothing.
Termination of these Terms shall not affect the continued operation and enforcement of Clause 5 (Our Liability), Clause 6 (Your Liability), Clause 11 (Intellectual Property) and any other provision of these Terms which reflects an intention of the Parties that it should survive termination.

10. CHANGES TO THESE TERMS

We will give you reasonable notice of any changes to these Terms unless it is not practical or possible to do so, in which case we will tell you as soon as we can after the change takes effect. If we want to make a change which is to your advantage, we may do so for any reason. Otherwise, we may make changes to these Terms for example because of changes:
1. to our risk appetite;
2. to the technology and / or other systems we use;
3. to reflect changes in the way in which cryptoasset markets work;
4. to reflect changes in the way in which we, or cryptoasset businesses generally, deliver our Services or services similar to our Services;
5. to respond to changes to Applicable Law or because of a decision of an ombudsmen, court or regulator;
6. to add new features to our Services;
7. to ensure our Terms are consistent with the Tokens and our Services; and
8. to reflect changes to the costs we incur in providing our Services.
We may also make changes for other justifiable reasons that impact on the way we provide our Services. If we do, we will explain the reason for the change when we notify you about the change.
We will notify you of any changes by making a notification to you. You will be treated as accepting any change that we make to these Terms unless you tell us that you do not agree to the change, in which case you must terminate your agreement with us under these Terms by redeeming all of your Supply Tokens and withdrawing your Cryptoassets from our Services before the date on which the change would otherwise take effect (otherwise you will be deemed to have accepted the change).

11. INTELLECTUAL PROPERTY

The Altitude Group and their licensors (if any) are at all times the owners of all intellectual property relating to these Terms, the Tokens and our Services, as well as any related software or information provided in relation to these Terms, the Tokens and our Services (the “Intellectual Property”). Nothing in these Terms gives you any rights in respect of any Intellectual Property and you do not acquire any such rights by using or receiving these Terms, the Tokens or our Services, or any other Intellectual Property provided in relation to such.
You shall not, except as may be allowed by Applicable Law which is incapable of exclusion by agreement between the Parties:
1. (except to the extent expressly permitted under these Terms) attempt to copy, modify, duplicate, create derivative works from, frame, mirror, republish, download, display, transmit, or distribute all or any portion of any Intellectual Property;
2. attempt to reverse compile, disassemble, reverse engineer or otherwise reduce to human-perceivable form all or any part of any Intellectual Property;
3. access all or any part of the Intellectual Property in order to build a product or service which competes with the Tokens and / or our Services;
4. license, sell, rent, lease, transfer, assign, distribute, display, disclose, or otherwise commercially exploit, or otherwise make the Intellectual Property available to, any third party; and / or
5. attempt to obtain, or assist third parties in obtaining, access to Intellectual Property other than as expressly permitted by these Terms.
Intellectual Property may contain code, commonly referred to as open-source software, which is distributed under any of the many known variations of open-source license terms, including terms which allow the free distribution and modification of the relevant software’s source code and/or which require all distributors to make such source code freely available upon request, including any contributions or modifications made by such distributor (collectively, “Open-Source Software”). To the extent that our Services contain and use any Open-Source Software, that element only is licensed to you under the relevant license terms of the applicable third-party licensor (“Open Source License Terms”), and you accept and agree to be bound by such Open Source License Terms.

12. COMMUNICATIONS

Communications between the Parties shall be in English.
You may contact us by email at: contact@altitude.fi.
Communications and notifications to you may be made either by:
1. using the latest details provided to us, or
2. by placing a notice on our Website or via our Discord Channel.
  and so long as we do so you will be deemed to have received the communication / notification.
So long as we act in good faith, should we receive a communication which purports to be from you, we are entitled, but not obliged, to rely on and conclusively presume that such communication or instruction has been given by you. We will treat any communication made using your contact details as being authorised by you, regardless of whether the person making the communication has actual authority to do so, and we do not accept liability for any loss (of whatever nature) caused by or as a consequence of so doing. It is therefore vital that you keep your contact details with us up to date and ensure that only persons who have the requisite authorisation to deal with us on your behalf have the ability to send us communications using your contact details.
Notwithstanding Clause 12.4, where we in good faith believe that a communication has not been authorised, we are entitled to not accept it, and we do not accept liability for any loss (of whatever nature) caused by or as a consequence of this.
You also must be vigilant when communicating to ensure you are actually communicating with us, as we do not accept any liability in the event that a third-party tricks you into communicating with someone other than us.
Communications:
1. by email will be deemed received on the earlier of the time at which it is accessed or 2 Business Days after receipt (except as regards email to us, if there is a bounce-back stating the communication has not been delivered, the communication shall be deemed not sent); and
2. via our Website will be deemed received when posted.

13. COMPLIANCE

General

Neither of these Terms nor our Services, nor any information or publicity in relation to them, is intended to be provided to any person in any jurisdiction or territory where this activity would require us to obtain any registration, approval or similar. By using our Services, you confirm that you are able to do so in accordance with these Terms and Applicable Law. It is your responsibility to take advice from local legal, tax and other advisers to ensure that your use of our Services does not constitute a breach of Applicable Law as applicable to you. If you have any doubt about this, you confirm that you have obtained appropriate legal advice to confirm that it is the case.

Tax evasion

You will ensure that none of you, nor any person acting on your behalf, shall, by any act or omission, commit, cause, facilitate or contribute to the commission by any person of a tax evasion offence or facilitation of a tax evasion offence. For these purposes, a tax evasion offence includes cheating a public revenue authority or being knowingly concerned in, or in taking steps with a view to, the fraudulent evasion of tax, and tax includes duties and social security contributions.

Bribery

You will not, and will take reasonable steps to ensure that your agents and delegates will not, do any action or inaction which would constitute you or us committing any offence under any Applicable Law in relation to bribery, corruption or sanctions.

14. NOVATION

In the event that we appoint another entity within the Altitude Group to take over our rights and obligations under these Terms (the “New Entity”), we may transfer by way of novation our rights and obligations under these Terms to the New Entity and you consent to such novation. As soon as reasonably practicable following such novation, we shall notify you of the effective date of such novation. From such effective date, all references in these Terms to “Altitude”, “we”, “us”, or “our” shall be deemed to be references to the New Entity.

15. MISCELLANEOUS

Entire agreement and legal status

These Terms constitute the entire agreement between you and Altitude Group with respect to its subject matter, and these Terms supersede any and all previous written or oral statements between you and Altitude Group. As such:
1. neither Party has entered into these Terms in reliance upon, and will have no remedy in respect of, any misrepresentation, representation or statement which is not expressly set out in these Terms;
2. the only remedies available for any misrepresentation or breach of any representation or statement which was made prior to entry into these Terms and which is expressly set out in these Terms will be for breach of contract; and
3. except as set out in these Terms, we do not make or give any representation or warranty as to the accuracy, completeness, currency, correctness, reliability, integrity, quality, fitness for purpose or originality of any information provided regarding the Tokens or our Services, and, to the fullest extent permitted by Applicable Law, all implied warranties, conditions or other terms of any kind are excluded and we accept no liability for any loss or damage of any kind incurred as a result of you or anyone else relying on such information.‍‍

‍Waiver

No waiver of any part of these Terms by us shall be effective unless in writing and signed by us. No waiver of any provision in these Terms will be deemed a waiver of a subsequent breach of such provision or a waiver of a similar provision. In addition, a waiver of any breach or a failure to enforce any term or condition of these Terms will not in any way affect, limit, or waive our rights hereunder at any time to enforce strict compliance thereafter with every term and condition of these Terms.
No other document or communication may modify or add any additional obligations or covenants on us beyond those set forth in these Terms, unless we clearly, specifically and explicitly state otherwise in that document.

Delegation and assignment

We may at our sole discretion assign our rights and/or delegate our duties under these Terms and engage subcontractors to perform obligations on our behalf, so long as we take due skill and care in selecting and overseeing our delegees.
You may not assign, transfer, delegate, charge or create third party interests over any of your rights or responsibilities in relation to these Terms, nor may you agree to do any of the same, if such impacts your ability to meet your obligations to us under these Terms.

Illegality and severability

Each of the provisions of these Terms are separate, severable and enforceable. If any portion of these Terms is found by any court or body or authority of competent jurisdiction to be illegal, unlawful, void or unenforceable, in whole or in part, such provision shall be ineffective solely to the extent of such determination of invalidity or unenforceability without affecting the validity or enforceability thereof in any other manner and without affecting the remaining provisions of these Terms, which shall continue to be in full force and effect. Also, the Parties shall negotiate in good faith to agree a replacement for the ineffective provision that, to the greatest extent possible, achieves the intended commercial result of the original provision.

Fiduciary duties and relationship

To the extent that we may be deemed under Applicable Law to owe you any fiduciary duties or to be in a fiduciary relationship, we explicitly exclude and reject any such duties or relationship to the extent permitted by Applicable Law.
Using our Services does not create any form of partnership, joint venture or any other similar relationship between the Parties, and we do not owe you any resulting fiduciary duties. Nothing in these Terms is intended to authorise either Party to act as agent for the other, and neither Party shall have the authority to act in the name of or on behalf of or otherwise to bind the other in any way (including the making of any representation or warranty, the assumption of any obligation or liability and the exercise of any right or power).

Third parties

This Clause is subject to Clause 14 and the Parties intend that persons within the Altitude Group shall have the right to enforce any rights granted to them under these Terms pursuant to the Contracts (Rights of Third Parties) Act 1999 (the "1999 Act"). Save as aforesaid, the Parties do not intend that the provisions of these Terms shall be enforceable by virtue of the 1999 Act or otherwise by any person not a Party to it. Notwithstanding this Clause 17.9, the consent any third party is not required for any variation (including any release or compromise of any liability) or termination of these Terms.

Jurisdiction

If you are a consumer, please note that these Terms, their subject matter, and any dispute or claim arising out of or in connection with them shall be governed by English law. You and we both agree that the courts of England and Wales will have non-exclusive jurisdiction to settle any dispute or claim arising out of or in connection with these Terms and its subject matter. However, nothing in these Terms will override any mandatory laws of the country in which you have your usual place of residence or limit your legal rights to bring actions against us or to require proceedings take place in the country in which you have your usual place of residence.
If you are a business, these Terms and, their subject matter, and any dispute or claim arising out of or in connection with them or their subject matter or formation (including non-contractual disputes or claims) shall be governed by and construed in accordance with English law. The Parties agree that the courts of England and Wales shall have exclusive jurisdiction to settle any such dispute or claim (including non-contractual disputes or claims).

Personal data

Information on how we process your data is set out in our Fair Processing Notice, provided separately.

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‍SCHEDULE ‎1

Risk Disclosures

USING OUR SERVICES AND DEALING IN CRYPTOASSETS INVOLVES A HIGH DEGREE OF RISK, AND, THEREFORE, SHOULD BE UNDERTAKEN ONLY IF YOU ARE CAPABLE OF EVALUATING THE RISKS INVOLVED AND ABLE TO BEAR THE RISK OF A COMPLETE LOSS OF ALL CAPITAL USED TO PARTICIPATE.

YOU SHOULD CAREFULLY CONSIDER THE RISKS DESCRIBED BELOW BEFORE USING OUR SERVICES, AND SHOULD ONLY USE OUR SERVICES IF YOU ACCEPT WE ARE NOT RESPONSIBLE FOR ANY SUCH RISKS MATERIALIZING. IT SHOULD BE NOTED THAT THE LIST OF RISK FACTORS DESCRIBED BELOW IS NOT INTENDED TO BE EXHAUSTIVE AND DOES NOT NECESSARILY INCLUDE ALL THE RISKS TO WHICH YOU MAY BE EXPOSED WHEN USING OUR SERVICES, AND IN THIS RESPECT WE PARTICULARLY NOTE THAT WE DO NOT CONTROL ANY DECISIONS MADE IN RELATION TO THE PROVISION OF OUR SERVICES, FOR EXAMPLE WHEN IMPLEMENTING AN ALLOCATION PROPOSAL.

BEFORE USING OUR SERVICES, YOU MUST MAKE SURE YOU ARE FAMILIAR WITH THE RISKS INVOLVED, AND WE ARE NOT RESPONSIBLE OR LIABLE IN THE EVENT THAT ANY RISK MATERIALIZING WHICH IS OUTSIDE OF OUR CONTROL.
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Important Note: None of the information presented in this Schedule 1 is intended to form the basis for any decision as to whether you should use our Services, no specific recommendations are intended, and there has not been any consideration as to whether our Services are a suitable or an appropriate thing for you to participate in. We expressly disclaim any and all responsibility for any loss arising from: (i) reliance on any information contained in this Schedule 1, (ii) any error, omission or inaccuracy in any such information, or (iii) any action or inaction resulting from such information.

Please note that in addition to the risks below, there may be other risks associated with your dealing in Cryptoassets, Tokens and using our Services generally, including those that we cannot reasonably foresee. Additional risks may also materialize as unanticipated variations or combinations of the risks discussed below.

By using our Services, or by otherwise dealing in Tokens, you expressly acknowledge and assume the risks set out in this Schedule 1, which we shall not be liable for should they materialize:
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General risks applicable to use of our Services as well as dealing in Cryptoassets and Tokens ‍

General economic risks
‍Please be aware that the value of Cryptoassets and Tokens can fall as well as rise. If you deal in Cryptoassets or Tokens other otherwise use our Services, you may lose value, and you may lose the full value of your participation. The value of Cryptoassets and Tokens depend on fluctuations in the financial markets, or other economic factors, which are outside our control. The past performance of a Cryptoassets and Tokens is not a guide to the future performance.
‍Volatility risk
‍Cryptoassets and Tokens are subject to significant price volatility. The prices of cryptoassets generally have historically been subject to dramatic price fluctuations and are highly volatile. A range of factors may influence the market price, if any, of Cryptoassets and Tokens, including, but not limited to: (i) the ability (if any) of Cryptoassets and Tokens to trade on a secondary market; (ii) global supply and demand (iii) general expectations with respect to the rate of inflation, interest rates and exchange rates; (iv) changes in the software, software requirements or hardware requirements underlying Cryptoassets and Tokens; (v) changes in the rights, obligations, incentives, or rewards for holders of Cryptoassets and Tokens;(vii) interruptions in service from or failures of exchanges on which Cryptoassets and Tokens are traded; (viii) investment and trading activities of large purchasers, including private and registered funds, that may directly or indirectly invest in Cryptoassets or Tokens; (ix) monetary policies of governments, trade restrictions, currency devaluations and revaluations; (x) regulatory measures, if any, that affect the use of Cryptoassets and Tokens and changes in Applicable Law; (xi) global or regional political, economic or financial events and situations; and (x) expectations among participants that the value of a particular Cryptoasset or Tokens or cryptoassets generally will soon change. A decrease in the price of a single cryptoasset may cause volatility in the entire cryptoasset industry and may affect the Cryptoassets and Tokens you deal in our Services. Volatility in the price of Cryptoassets and Tokens may result in significant loss over a short period of time.‍
Risks in relation to third parties‍
Whilst our Services enable you to access the services of third parties, such as Third Party Lenders and Yield Farms, the services and products provided by such third parties are subject to their own particular risks. We may not have done any due diligence on the third parties you may access via our Services, and for example a third party may be selected as a result of an Allocation Proposal submitted by a Supply Token holder and not by us. In using our Services, you understand that we are not responsible for the risks of using the products and services provided by third parties, and it is your responsibility to ensure that you understand and accept them as relevant to your use of our Services, including by conducting your own appropriate due diligence. ‍
Risks in relation to the Yield Generation Process and Vaults‍
Once a Vault and Yield Generation Process has been set up, we do not exercise any discretion in relation to its operation. As such, absent an approved Allocation Proposal, we are unable to adapt an existing Vault or Yield Generation Process to take account of market changes or issues that arise. The passing of an Allocation Proposal may take time, and we are not responsible for any loss caused by any delay as a consequence. Furthermore, Supply Token holders suggesting an Allocation Proposal have not been vetted by us and may lack experience or competence. In any event, if an Allocation Proposal is passed, we will generally be required to pass it and so are not responsible for any loss, or failure to make a gain, as a result of implementing any Allocation Proposal. ‍
Risk of losing access to Cryptoassets and Tokens due to loss of private key(s)
‍A private key, or a combination of private keys, is necessary to control and dispose of Cryptoassets and Tokens. Accordingly, loss of requisite private key(s) associated with your Wallet or smart contract storing Cryptoassets and Tokens will result in loss of them. Moreover, any third party that gains access to such private key(s), including by gaining access to login credentials of a hosted wallet service you use, may be able to misappropriate your Cryptoassets and Tokens. You, and not we, are responsible for safekeeping your private key(s). ‍
Risk of issues with your Wallet ‍
You are responsible for ensuring that your Wallet is compatible with our Services and Tokens. Any errors or malfunctions caused by or otherwise related to your Wallet, including your failure to properly maintain or use such Wallet, may also result in the loss of your Cryptoassets and Tokens. It is your, and not our, responsibility to obtain, maintain and secure your Wallet, which must be compatible with holding the Cryptoassets and Tokens you deal in.‍
Regulatory risks‍
Regulation of Cryptoassets, Tokens and the use of blockchain technologies generally is currently still being developed and likely to rapidly evolve. Regulation varies significantly between different jurisdictions and is subject to significant uncertainty. Regulators may in the future adopt laws, regulations, guidance or other actions that may severely and adversely impact Cryptoassets, Tokens or our Services generally. This could result in a variety of adverse consequences and reduce the value of Cryptoassets and Tokens. It may also limit our ability to operate / provide our Services and Tokens in particular jurisdiction(s).
‍Risks associated with the blockchain protocol ‍
Because Cryptoassets, Tokens and our Services generally are reliant on blockchain protocols, any malfunction, breakdown or abandonment of the blockchain protocol may have a material adverse effect on Cryptoassets, Tokens and our Services generally. Moreover, advances in cryptography, or technical advances, such as the development of quantum computing, could present risks to Cryptoassets, Tokens and our Services generally by rendering ineffective the cryptographic consensus mechanism that underpins the blockchain protocol.
Risk of hacking and software and security weaknesses‍
Hackers or other malicious groups or organizations may attempt to interfere with Cryptoassets, Tokens and our Services generally in a variety of ways, including malware attacks, denial of service attacks, consensus-based attacks, sybil attacks or smurfing and spoofing.
There may also be attacks attempting to overpower the consensus-based mechanism on which the blockchain in built and attacks which interfere with or otherwise cause nodes to malfunction (nodes are computers / hardware devices that help maintain the blockchain).
There is an inherent risk that the software and related technologies and theories we use in connection with our Services and Tokens could contain a Virus. A Virus could cause, inter alia, complete loss of Cryptoassets and Tokens. In addition, because Cryptoassets and Tokens may be based on open-source software, there is a risk that someone may intentionally or unintentionally introduce a Virus into the core infrastructure supporting Cryptoassets or Tokens, which could negatively affect their operation and / or value.
‍Forks and Airdrops‍
The underlying protocols of Cryptoassets may be subject to substantial changes in their operating rules (called a “forks”), and these may alter the value or function of a Cryptoasset. A fork may result in multiple versions of a Cryptoasset, leading to volatility as one version becomes dominant over another, which may lose its value.
There may be distributions made to holders of a particular Cryptoasset, for example of a new variant of a Cryptoasset (called an “airdrop”), and the event of an airdrop may also impact the value of the Cryptoasset(s) affected.

Altitude Token specific risks

As noted elsewhere in these Terms, the Altitude Token is not being structured or sold as securities nor any other form of regulated investment product. Accordingly, there has not been any consideration as to whether Altitude Tokens are a suitable or an appropriate thing for you to deal in. In addition to the risks set out above which also apply, you should be aware of the following risks in relation to Altitude Tokens:

Lack of operating history
‍Purchases of Altitude Token involve a high degree of risk. The technology underlying the Altitude Token has a relative lack of operating history. The DeFi market in which we compete is highly competitive, and the percentage of companies that survive and prosper is small. The lack of an operating history may make it difficult for you to evaluate the long-term operating prospects of Altitude Token. There are no assurances that Altitude Tokens will be successful, nor that the risks inherent in a cryptoasset like Altitude Token will be successfully mitigated.‍
Risks associated with uncertain regulation‍
The regulatory status of the Altitude Token may be unclear or unsettled in certain jurisdictions. It is difficult to predict how or whether regulatory agencies may apply existing regulation with respect to Altitude Token and its applications, including in connection with our Services. It is likewise difficult to predict how or whether legislatures or regulatory agencies may implement changes to law and regulation affecting distributed ledger technology and its applications. Regulatory actions could negatively impact the Altitude Token in various ways, including, for purposes of illustration only, through a determination that Altitude Tokens are a regulated financial instrument that require registration or licensing. We may cease operations in a jurisdiction in the event that regulatory actions, or changes to Applicable Law, make it illegal to operate in such jurisdiction, or commercially undesirable to obtain the necessary regulatory approval(s) to operate in such jurisdiction.
More generally, the Altitude Token and our Services are pioneered on new and evolving technology, which increases legal complexity, particularly as the Applicable Law is subject to interpretation and change. This could result in a variety of adverse consequences, including civil penalties and fines as well as the requirement that some or all of our Services by restricted or prohibited in certain jurisdictions. These developments could have an adverse effect on the operation of our Services and the Altitude Token.‍
Legal proceedings and litigation‍
From time to time, we may be involved in legal proceedings or litigation. The results of such legal proceedings and claims cannot be predicted with certainty and, regardless of the outcome, legal proceedings could have an adverse impact on our business, because of defence and settlement costs, diversion of resources, and other factors. Generally, if third parties are successful in their claims, we may have to pay substantial damages, account for profits derived from the alleged infringing acts, and cease to use certain technologies or take other actions that could be detrimental to our business. If there is an intellectual property infringement claim, or to avoid such claims, we may be prohibited from selling or licensing to others some or all Services we develop, unless the patent or copyright holder grants a license of the relevant intellectual property to us, which the patent or copyright holder is not obligated to do. There also may be adverse publicity associated with litigation that could negatively affect people’s perception of us, our Services and/or the Altitude Token, regardless of whether the allegations are valid or we are ultimately found liable. Accordingly, litigation may adversely affect our business and financial condition.‍
Intellectual property‍
Companies, organisations, or individuals, including competitors, may hold or obtain patents, trademarks, or other proprietary rights that would prevent, limit, or interfere with our ability to make, use, develop, sell, and / or market Altitude Token and / or our Services, which could make it more difficult for us to operate our business. These third parties may have applied for, been granted, or obtained, patents that relate to intellectual property, and which compete with our intellectual property or technology. This may require us to develop or obtain alternative technology, or obtain appropriate licenses under these patents, which may not be available on acceptable terms or at all. Such a circumstance may result in us having to significantly increase development efforts and resources to redesign the technology we use in order for us to safeguard our competitive edge against competitors in the same industry. There is a risk that our means of protecting intellectual property rights may not be adequate, and weaknesses or failures in this area could adversely affect our business or reputation, financial condition, the operations of our Services and the Altitude Token.
From time to time, we may receive communications from holders of patents or trademarks regarding their proprietary rights. Companies holding patents or other intellectual property rights may bring suits alleging infringement of such rights or otherwise assert their rights and urge us to take licenses. In addition, if we are determined to have infringed upon a third party's intellectual property rights, we may be required to cease operating certain Services, pay substantial damages, seek a license from the holder of the infringed intellectual property right (which license may not be available on reasonable terms or at all), and/or establish and maintain alternative branding for items relating to our Services. We may need to file lawsuits to protect our intellectual property rights from infringement from third parties, which could be expensive, time consuming, and distract management's attention from our core operations.
Our ability to serve our customers will depend upon our intellectual property. The steps we take to protect our intellectual property rights may be inadequate. In order to protect our intellectual property rights, we may be required to spend significant resources to monitor and protect these rights. Litigation brought to protect and enforce our intellectual property rights could be costly, time-consuming and distracting to management and could result in the impairment or loss of portions of our intellectual property. Furthermore, our efforts to enforce our intellectual property rights may be met with defences, counterclaims, and countersuits attacking the validity and enforceability of our intellectual property rights. Our failure to secure, protect, and enforce our intellectual property rights could seriously harm the Altitude Token brand and adversely affect the operation of the Altitude Token.‍
Altitude Tokens will have no refund rights or similar features and may have limited liquidity‍
After issuance, to the extent permitted by Applicable Law you will have no right to return your Altitude Tokens to us or to receive a refund or otherwise require us to exchange Altitude Tokens for a certain value. As a result, if there is not sufficient demand or interest in the Altitude Tokens or our Services, or if there are limits on the transferability of, or limited liquidity for, Altitude Tokens, then you may lose all or a portion of your investment.
Future distribution of Altitude Tokens and other types of token‍
The distribution by us of a substantial number of Altitude Tokens or additional types of token could have an adverse effect on the value of Altitude Tokens. Any distribution of Altitude Tokens could dilute your percentage interest in then-outstanding Altitude Tokens, if any, and have an adverse effect on the market value of Altitude Tokens. Additional new types of cryptoasset may also impact the value of Altitude Tokens, and you have no rights in relation to such new types of cryptoasset as a result of entering into these Terms.
‍Funding‍
We intend to use the amounts received from Altitude Token holders to fund the development of our business and Services. Amounts received from Altitude Token holders may be converted into other cryptoassets or fiat currencies. If the value of cryptoassets or fiat currencies fluctuate unfavourably this may mean that we may not be able to fund business development and deployment as expected or may not be able to develop our Services in the manner intended, which may consequently impact the value of Altitude Tokens.‍
Lack of information for monitoring Altitude Tokens‍
You may not be able to obtain all information you want from time to time regarding our Services and / or Altitude Tokens. Even if you do receive such information, you may not receive it on a timely basis. It is possible that you may not be aware of materially adverse changes that have occurred with respect to our Services and/or Altitude Tokens in a timely manner. As a result of these difficulties, as well as other uncertainties, you may not have accurate or accessible information relating to your purchase, which could prevent you from taking actions with the potential to prevent adverse consequences relating to your holding of Altitude Tokens.‍
Altitude Tokens may not be classified as unregulated ‍
Although we intend for the Altitude Token to be classified as unregulated, the regulatory position of cryptoassets can be uncertain and subject to change. This may, at a later date, cause us to reclassify the Altitude Token as a security, in which case Altitude Tokens may be subject to restrictions on resale and transfer.
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‍SCHEDULE 2

Token Features

PLEASE NOTE THAT THE BELOW REPRESENTS OUR INTENTIONS FOR THE OPERATION OF THE TOKENS AS AT THE DATE OF THESE TERMS. HOWEVER, THERE MAY BE LEGAL, REGULATORY OR COMMERCIAL REASONS WHY THE TOKENS MAY DIFFER FROM THE BELOW.

Please note that Altitude:

has no obligation to give the Tokens any rights or attributes other than those outlined below, and Tokens shall not give you any rights in relation to any aspect of any business conducted at any time by Altitude other than as explicitly stated below.
reserves the right to create new classes of fungible or non-fungible tokens under separate brands and with features outside of the scope of these Terms. Nothing in these Terms shall entitle you to have any rights (of whatever nature) in relation to such tokens.
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Supply Token Features

We intend the Supply Token to have the following features:

To act as a receipt on deposit of Cryptoassets held via our Services.
To be used as a mechanism to claim back Wrapped Cryptoassets upon repayment to Altitude of the Cryptoasset loan.
To give holders the ability to:
1. submit Allocation Proposals; and
2. vote on Allocation Proposals.

Altitude Token Features

We intend the Altitude Token to have the following features:

It may be sold by us or other holders of Altitude Tokens.
It gives holders the ability to vote on Governance Matters.

Terms and Conditions