Welcome to Bridge.
05
Blockchain Control; Forks; Risks of Buying and Selling Stablecoins
5.1. We do not operate, own, or control any Blockchains. By their nature, Blockchains use open-source software that anyone can use, copy, modify, and distribute. Neither we nor our Financial Partners or your Partner are responsible for the operation of any Blockchains that are compatible with the Stablecoins and Digital Assets we support, and we do not guarantee the functionality, security, or availability of any Blockchains. Some of the financial institutions that issue Stablecoins on various Blockchains (“Issuers”) include software code that they can use to block the transfer of Stablecoins if the Issuer suspects illegal activity or pursuant to a request from law enforcement. We have no control over the software code of any of the Stablecoins we support, and you are purchasing Stablecoins at your own risk.
5.2. Blockchains are subject to sudden changes in operating rules, and third parties may from time to time create a copy of a Blockchain and implement changes in operating rules or other features (“Forks”) that may result in more than one version of a Blockchain (each, a “Forked Blockchain”) and more than one version of a Stablecoin (“Forked Stablecoins”) or Digital Asset (“Forked Asset”). Our ability to support Forked Stablecoins or accept Forked Assets resulting from a Forked Network is completely outside our control. Forks may materially affect the value and function of the Stablecoins you purchase from or sell to us and depends entirely on the Issuer of the Forked Stablecoin. In the event of a Fork, we may temporarily suspend any Orders in process at the time of the Fork with or without notice to you while we determine the effects of the Fork on the functionality of the Bridge Services. Issuers will almost certainly not support Forked versions of the Stablecoins they issue, and you may not be permitted to redeem Forked Stablecoins for Fiat Currency. Attempts to Fork a Blockchain may also result in complete or partial failure of the Blockchain’s functionality, and the Stablecoins and Digital Assets you own that are supported by the Blockchain may become worthless.
WE MAY CHOOSE NOT TO SUPPORT FORKED BLOCKCHAINS, AND YOU HAVE NO RIGHT, CLAIM, OR OTHER PRIVILEGE TO FORKED STABLECOINS ON A FORKED NETWORK WE DO NOT SUPPORT, EVEN IN THE RARE EVENT AN ISSUER SUPPORTS THE FORK. WE MAY ABANDON OR CHOOSE NOT TO SUPPORT FORKED BLOCKCHAINS AS PART OF THE BRIDGE SERVICES, AND WE AND OUR FINANCIAL PARTNERS ARE UNLIKELY TO SUPPORT MOST FORKED BLOCKCHAINS. IF YOU USE A DIGITAL ASSET THAT HAS BEEN FORKED TO BUY STABLECOINS FROM US, WE RESERVE THE RIGHT TO CANCEL YOUR ORDER, AND WE MAY NOT BE ABLE TO RETURN YOUR FUNDS IN THE EVENT OF A FAILED FORK.
5.3. THERE ARE MANY RISKS ASSOCIATED WITH BUYING AND SELLING STABLECOINS. WE HAVE DESCRIBED THESE RISKS IN OUR STABLECOIN RISK DISCLOSURE AVAILABLE IN EXHIBIT C TO THIS AGREEMENT. THE STABLECOIN RISK DISCLOSURE IS INCLUDED IN THESE TERMS, AND BY USING THE BRIDGE SERVICES, YOU ARE INDICATING TO US THAT YOU HAVE READ AND UNDERSTOOD THESE RISKS.