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Terms of Service

Last modified: January 19, 2022

The Sense Protocol (the “Protocol”) is a decentralized protocol on the Ethereum blockchain that allows users to escrow yield bearing assets and mint new tokens based on such assets. The Protocol is developed and made available by Sense Finance, Inc. (“Sense,” “we,” “our,” “ours,” and “us”).

These Terms of Use (the “Terms,”) govern your relationship with Sense and your use of (a) the Protocol, (b) the Sense website located at https://sense.finance/ and all associated websites linked to https://sense.finance/ (collectively, the “Site”), and (c) the Sense Interface, a website-hosted user interface providing access to the Protocol that is accessed through the Site.

Please read these Terms and our Privacy Policy located at https://sense.finance/privacy carefully before using the Site, the Interface, or the Protocol. By using the Site, the Interface, or the Protocol, you agree to be bound by these Terms and our Privacy Policy, which is incorporated by reference. If you do not agree completely to these Terms or our Privacy Policy, do not use the Site, the Interface, or the Protocol.

THIS AGREEMENT CONTAINS A BINDING INDIVIDUAL ARBITRATION AGREEMENT AND CLASS ACTION WAIVER IN SECTION 14. THIS AFFECTS YOUR RIGHTS WITH RESPECT TO ANY “DISPUTE” BETWEEN YOU AND SENSE AND MAY REQUIRE YOU TO RESOLVE DISPUTES IN BINDING, INDIVIDUAL ARBITRATION, AND NOT IN COURT. PLEASE READ THIS ENTIRE AGREEMENT, INCLUDING THAT PROVISION, CAREFULLY.

  1. Eligibility.
    1. You must be at least the age of majority in your jurisdiction to access or use the Site, the Interface, or the Protocol. By accessing or using the Site, the Interface, or the Protocol, you represent that you are at least the age of majority (e.g., 18 years of age) and have the full right, power, and authority to enter and comply with these Terms. If you access or use the Site, the Interface, or the Protocol on behalf of a legal entity, (a) all references to “you” throughout these Terms will include that entity, (b) you represent that you are authorized to accept these Terms on that entity’s behalf, and (c) in the event you or the entity violates these Terms, the entity agrees to be responsible to us.
    2. You further represent that you are not (a) the subject of economic or trade sanctions administered or enforced by any governmental authority or otherwise designated on any list of prohibited or restricted parties (including but not limited to the list maintained by the Office of Foreign Assets Control of the U.S. Department of the Treasury) or (b) a citizen, resident, or organized in a jurisdiction or territory that is the subject of comprehensive country-wide, territory-wide, or regional economic sanctions by the United States.
  2. Intellectual Property Ownership.
    1. You acknowledge and agree that we own all legal right, title and interest in the Site, the Interface, and their contents, including but not limited to software, text, images, all trademarks, service marks, and trade names (“Sense Materials”). You acknowledge that Sense Materials are protected by copyright, trade dress, patent, and trademark laws, international conventions, other relevant intellectual property and proprietary rights, and applicable laws. While the Sense Materials are proprietary, the Protocol is comprised of open-source software running on the public Ethereum blockchain.
    2. Subject to your compliance with these Terms, we provide you a limited, personal, non-exclusive, nontransferable, non-assignable, fully revocable license to use the Interface for your individual use. This license is effective until terminated. We may terminate or suspend any or all portions or features of the Interface at any time and for any reason or for no reason with no liability to you. This license does not give you any ownership rights in the Sense Materials.
  3. Privacy
    1. When you use the Interface, we collect from you directly your blockchain wallet address, completed transaction hashes, and the token names, symbols, or other blockchain identifiers of the tokens that you escrow or mint through the Protocol. Additionally, when you use the Site, we may collect information about you automatically through cookies and similar technologies. Please refer to our Privacy Policy, available at https://sense.finance/privacy, for information on how we collect and use your information.
  4. Prohibited Conduct and Content.
    1. You agree not to engage in any of the following conduct (each a “Prohibited Activity”) with respect to the Interface:
      1. Any activity that seeks to interfere with or compromise the integrity, security, or proper functioning of any computer, server, network, personal device, or other information technology system, including (but not limited to) the deployment of viruses and denial of service attacks;
      2. Any activity to defraud any person or entity, including but not limited to providing any false, inaccurate, or misleading information in order to unlawfully obtain the property of another;
      3. Any activity that violates any applicable law, rule, or regulation concerning the trading of securities, derivatives, or commodities; and
      4. Any activity to violate any other applicable law, contract, intellectual property right or other third-party right or commit a tort.
    2. If you engage in any of the Prohibited Activities, we may, at our sole and absolute discretion, without notice or liability to you, and without limiting any of our other rights or remedies at law or in equity, immediately suspend or terminate your access to the Interface.
  5. Termination
    1. We may, at any time and at our sole discretion, suspend, terminate, deactivate, and delete your access to or any part of the Site or the Interface with or without notice to you for any reason or for no reason at all, including without limitation if: (i) you breach any provision of these Terms; (ii) you infringe any intellectual property rights; or (iii) you in engage in any Prohibited Activity.
    2. The following Sections of these Terms will survive termination or discontinuation of your access to any part of the Site, the Interface, or the Protocol: Section 8 (Disclaimer and No Warranties), Section 9 (Indemnification), Section 10 (Limitation of Liability), Section 11 (Release), Section 14 (Dispute Resolution and Binding Arbitration), and Section 17 (Feedback).
  6. Non-Custodial and No Fiduciary Duties
    1. The Interface and the Protocol are non-custodial, meaning you are solely responsible for the custody of the cryptographic private keys to the digital asset wallets you hold. These Terms are not intended to, and do not, create or impose any fiduciary duties on us. To the fullest extent permitted by law, you acknowledge and agree that we owe no fiduciary duties or liabilities to you or any other party, and that to the extent any such duties or liabilities may exist at law or in equity, those duties and liabilities are hereby irrevocably disclaimed, waived, and eliminated.
  7. Non-Solicitation and No Professional Advice
    1. You agree and understand that transactions you submit through the Interface or through the Protocol are considered unsolicited, which means that you have not received any investment advice from us in connection with any transactions.
    2. You agree and understand that all information provided by the Site and the Interface is for informational purposes only and should not be construed as legal, financial, or tax advice. You should not take, or refrain from taking, any action based on any information contained in the Site or the Interface. You should seek independent advice from professional advisers before making any decisions involving your use of the Interface or the Protocol.
  8. Disclaimers and No Warranties.
    1. YOU EXPRESSLY UNDERSTAND AND AGREE THAT YOUR ACCESS TO AND USE OF THE SITE, THE INTERFACE, OR THE PROTOCOL IS AT YOUR SOLE RISK, AND THAT ACCESS TO THE SITE, THE INTERFACE, OR THE PROTOCOL IS PROVIDED “AS IS” AND “AS AVAILABLE”. TO THE FULLEST EXTENT PERMISSIBLE PURSUANT TO APPLICABLE LAW, WE MAKE NO EXPRESS WARRANTIES AND HEREBY DISCLAIM ALL IMPLIED WARRANTIES REGARDING ANY PART OF THE SITE, THE INTERFACE, OR THE PROTOCOL, INCLUDING THE IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT, CORRECTNESS, ACCURACY, OR RELIABILITY. WITHOUT LIMITING THE GENERALITY OF THE FOREGOING, We do not represent or warrant that access to the SITE, THE Interface, OR THE PROTOCOL will be continuous, uninterrupted, timely, or secure; that the information contained in THE SITE OR the Interface will be accurate, reliable, complete, or current; or that the SITE, THE Interface, OR THE PROTOCOL will be free from errors, defects, viruses, or other harmful elements.
    2. YOU ACCEPT THE INHERENT SECURITY RISKS OF PROVIDING INFORMATION OVER THE INTERNET, AND AGREE THAT WE HAVE NO LIABILITY OR RESPONSIBILITY FOR ANY BREACH OF SECURITY.
    3. WE WILL NOT BE RESPONSIBLE OR LIABLE TO YOU FOR ANY LOSSES YOU INCUR AS THE RESULT OF YOUR USE OF THE ETHEREUM NETWORK OR ANY ETHEREUM WALLET OR OTHER ELECTRONIC WALLET, INCLUDING BUT NOT LIMITED TO ANY LOSSES, DAMAGES OR CLAIMS ARISING FROM: (i) USER ERROR, SUCH AS FORGOTTEN PASSWORDS OR INCORRECTLY CONSTRUED SMART CONTRACTS OR OTHER TRANSACTIONS; (ii) SERVER FAILURE OR DATA LOSS; (iii) CORRUPTED WALLET FILES; OR (iv) UNAUTHORIZED ACCESS OR ACTIVITIES BY THIRD PARTIES, INCLUDING BUT NOT LIMITED TO THE USE OF VIRUSES, PHISHING, BRUTEFORCING OR OTHER MEANS OF ATTACK AGAINST THE PLATFORM, ETHEREUM NETWORK, OR ANY ETHEREUM WALLET OR OTHER ELECTRONIC WALLET.
    4. WE ARE NOT RESPONSIBLE FOR LOSSES DUE TO BLOCKCHAINS OR ANY OTHER FEATURES OF THE ETHEREUM NETWORK OR ANY ETHEREUM WALLET OR OTHER ELECTRONIC WALLET, INCLUDING BUT NOT LIMITED TO LATE REPORT BY DEVELOPERS OR REPRESENTATIVES (OR NO REPORT AT ALL) OF ANY ISSUES WITH THE BLOCKCHAIN SUPPORTING THE ETHEREUM NETWORK, INCLUDING FORKS, TECHNICAL NODE ISSUES, OR ANY OTHER ISSUES HAVING FUND LOSSES AS A RESULT.
  9. Indemnification.
    1. To the fullest extent permitted by applicable law, you will indemnify, defend and hold harmless Sense and our subsidiaries and affiliates, and each of our respective officers, directors, agents, partners and employees (individually and collectively, the “Sense Parties”) from and against any losses, liabilities, claims, demands, damages, expenses or costs (“Claims”) arising out of or related to (a) your access to or use of the Site, the Interface, or the Protocol (b) your violation of these Terms; (c) your violation, misappropriation or infringement of any rights of another (including intellectual property rights or privacy rights); or (d) your conduct in connection with the Site, the Interface, or the Protocol. You agree to promptly notify Sense Parties of any Claims, cooperate with Sense Parties in defending such Claims and pay all fees, costs and expenses associated with defending such Claims (including attorneys’ fees). You also agree that Sense Parties will have control of the defense or settlement, at Sense’s sole option, of any Claims.
  10. Limitation of Liability.
    1. To the fullest extent permitted by applicable law, Sense and the other Sense Parties will not be liable to you under any theory of liability—whether based in contract, tort, negligence, strict liability, warranty, or otherwise—for any indirect, consequential, exemplary, incidental, punitive or special damages or lost profits, even if Sense or the other Sense Parties have been advised of the possibility of such damages.
    2. The total liability of Sense and the other Sense Parties for any claim arising out of or relating to these Terms, regardless of the form of the action, is limited to the greater of $100 or the amount paid by you to use the Interface.
    3. The limitations set forth in this Section 10 will not limit or exclude liability for the gross negligence, fraud or intentional misconduct of Sense or the other Sense Parties or for any other matters in which liability cannot be excluded or limited under applicable law. Additionally, some jurisdictions do not allow the exclusion or limitation of incidental or consequential damages, so the above limitations or exclusions may not apply to you.
  11. Release
    1. To the fullest extent permitted by applicable law, you release Sense and the other Sense Parties from responsibility, liability, claims, demands and/or damages (actual and consequential) of every kind and nature, known and unknown (including claims of negligence), arising out of or related to disputes between users and the acts or omissions of third parties. If you are a consumer who resides in California, you hereby waive your rights under California Civil Code § 1542, which provides: “A general release does not extend to claims which the creditor does not know or suspect to exist in his or her favor at the time of executing the release, which if known by him or her must have materially affected his or her settlement with the debtor.”
  12. Changes to these Terms.
    1. We may update, amend, alter, or modify these Terms in the future. You agree that Sense may make changes to these Terms at any time and for any reason at its sole discretion. If we make material changes to these Terms, we will notify you and give you an opportunity to review the new Terms that will supersede and replace these Terms. Your continued access or use of the Site, the Interface, or the Protocol after notice of changes to these Terms will mean that you accept any and all of such changes. If you do not agree to the amended Terms, you must stop using the Site, the Interface, and the Protocol.
  13. Changes to the Interface and the Protocol.
    1. We may update, amend, alter, change, or stop the Interface or the Protocol, or any part of them, from time to time without prior notice to you.
    2. We do not have any maintenance, update, or support obligations with respect to the Interface or the Protocol. You agree that our updates to the Interface or the Protocol may change the requirements necessary to use the Interface or the Protocol and agree that in such an event you are responsible for any necessary actions, including but not limited to software or hardware, to access and use the Interface or the Protocol.
    3. We are not responsible for any loss or harm related to your inability to access or use our Interface or the Protocol.
  14. Dispute Resolution and Binding Arbitration.
    1. Please read the following section carefully because it requires you to arbitrate certain disputes and claims with Sense and limits the manner in which you can seek relief from us, unless you opt out of arbitration by following the instructions set forth below. No class or representative actions or arbitrations are allowed under this arbitration provision. In addition, arbitration precludes you from suing in court or having a jury trial.
    2. No Representative Actions. You agree that any dispute arising out of or related to these Terms is personal to you and Sense and that any dispute will be resolved solely through individual action, and will not be brought as a class arbitration, class action or any other type of representative proceeding.
    3. Arbitration of Disputes. Except for disputes in which you or Sense seeks injunctive or other equitable relief for the alleged infringement or misappropriation of intellectual property, you and Sense waive your rights to a jury trial and to have any other dispute arising out of or related to these Terms, including claims related to privacy and data security, (collectively, “Disputes”) resolved in court. Instead, for any Dispute that you have against Sense you agree to first contact Sense and attempt to resolve the claim informally by sending a written notice of your claim (“Notice”) to Sense by email at contact@sense.finance. The Notice must (a) include your name, residence address, email address, and telephone number; (b) describe the nature and basis of the Dispute; and (c) set forth the specific relief sought. Our notice to you will be similar in form to that described above. If you and Sense cannot reach an agreement to resolve the Dispute within thirty (30) days after such Notice is received, then either party may submit the Dispute to confidential, binding arbitration. The arbitration shall be conducted in the State of New York by a single arbitrator pursuant to the Rules of the American Arbitration Association (“AAA”). You and Sense agree that these Terms affect interstate commerce and that the enforceability of this Section 14 will be substantively and procedurally governed by the Federal Arbitration Act, 9 U.S.C. § 1, et seq. (the “FAA”), to the maximum extent permitted by applicable law. As limited by the FAA, these Terms and the AAA Rules, the arbitrator will have exclusive authority to make all procedural and substantive decisions regarding any Dispute and to grant any remedy that would otherwise be available in court, including the power to determine the question of arbitrability. The arbitrator may conduct only an individual arbitration and may not consolidate more than one individual’s claims, preside over any type of class or representative proceeding or preside over any proceeding involving more than one individual. The arbitration will allow for the discovery or exchange of non-privileged information relevant to the Dispute. The arbitrator, Sense, and you will maintain the confidentiality of any arbitration proceedings, judgments and awards, including information gathered, prepared and presented for purposes of the arbitration or related to the Dispute(s) therein. The arbitrator will have the authority to make appropriate rulings to safeguard confidentiality, unless the law provides to the contrary. The duty of confidentiality does not apply to the extent that disclosure is necessary to prepare for or conduct the arbitration hearing on the merits, in connection with a court application for a preliminary remedy or in connection with a judicial challenge to an arbitration award or its enforcement, or to the extent that disclosure is otherwise required by law or judicial decision.
    4. You and Sense agree that for any arbitration you initiate, you will pay the filing fee up to a maximum of $250, and Sense will pay the remaining fees and costs. For any arbitration initiated by Sense, Sense will pay all fees and costs. You and Sense agree that the state or federal courts of the State of New York shall have exclusive jurisdiction over any appeals and the enforcement of an arbitration award.
    5. Any dispute must be filed within one year after the relevant claim arose; otherwise, the Dispute is permanently barred, which means that you and Sense will not have the right to assert the claim.
    6. You have the right to opt out of binding arbitration within 30 days of the date you first accepted the terms of this Section 14 by contacting Sense at contact@sense.finance. In order to be effective, the opt-out notice must include your full name and address and clearly indicate your intent to opt out of binding arbitration. By opting out of binding arbitration, you are agreeing to resolve Disputes in accordance with Section 15.
    7. If any portion of this Section 14 is found to be unenforceable or unlawful for any reason, (a) the unenforceable or unlawful provision shall be severed from these Terms; (b) severance of the unenforceable or unlawful provision shall have no impact whatsoever on the remainder of this Section 14 or the parties’ ability to compel arbitration of any remaining claims on an individual basis pursuant to this Section 14; and (c) to the extent that any claims must therefore proceed on a class, collective, consolidated, or representative basis, such claims must be litigated in a civil court of competent jurisdiction and not in arbitration, and the parties agree that litigation of those claims shall be stayed pending the outcome of any individual claims in arbitration. Further, if any part of this Section 14 is found to prohibit an individual claim seeking public injunctive relief, that provision will have no effect to the extent such relief is allowed to be sought out of arbitration, and the remainder of this Section 14 will be enforceable.
  15. Governing Law and Venue.
    1. Any dispute arising from these Terms will be governed by and construed and enforced in accordance with the laws of New York, except to the extent preempted by U.S. federal law, without regard to conflict of law rules or principles that would cause the application of the laws of any other jurisdiction. Any dispute between the parties that is not subject to arbitration or cannot be heard in small claims court will be resolved in the state or federal courts of New York and the United States, respectively, sitting in New York County.
  16. Severability.
    1. If any provision or part of a provision of these Terms is unlawful, void or unenforceable, that provision or part of the provision is deemed severable from these Terms and does not affect the validity and enforceability of any remaining provisions.
  17. Feedback.
    1. You may voluntarily post, submit or otherwise communicate to us, including through third party channels (e.g., Discord), any questions, comments, suggestions, ideas, original or creative materials or other information about Sense (collectively, “Feedback”). By posting or submitting any Feedback to us, you hereby irrevocably grant to Sense a worldwide, perpetual, irrevocable, royalty-free, and fully sublicensable license to use, reproduce, modify, adapt, publish, translate, create derivative works from, distribute, perform and display such Feedback (in whole or in part) in any media and to incorporate the Feedback into other works in any format or medium now known or later developed. You understand that Sense may treat Feedback as nonconfidential.
  18. Miscellaneous.
    1. The failure of Sense to exercise or enforce any right or provision of these Terms will not operate as a waiver of such right or provision. These Terms reflect the entire agreement between the parties relating to the subject matter hereof and supersede all prior agreements, representations, statements and understandings of the parties. The section titles in these Terms are for convenience only and have no legal or contractual effect. Use of the word “including” will be interpreted to mean “including without limitation.” Except as otherwise provided herein, these Terms are intended solely for the benefit of the parties and are not intended to confer third-party beneficiary rights upon any other person or entity. You agree that communications and transactions between us may be conducted electronically.
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