Terms of Use

1. Acceptance of Terms

By accessing or using the PercoSec protocol, website, smart contracts, or any associated software or services (collectively, the “Protocol”), you agree to be bound by these Terms of Use (“Terms”). If you do not agree to these Terms, you must not access or use the Protocol.

These Terms apply to all users of the Protocol, including market creators, capital providers, traders, keeper operators, and any third party that interacts with the Protocol's smart contracts.

2. Nature of the Protocol

PercoSec is a decentralized, open-source software protocol deployed on the Solana blockchain. The Protocol facilitates the creation and management of insurance pools for permissionless perpetual markets. The Protocol is not:

• An insurance company or licensed insurance provider under any jurisdiction
• A financial institution, bank, or investment advisor
• A custodian of user funds (deposits are held in non-custodial smart contracts)
• A broker, dealer, or exchange
• A managed fund or pooled investment vehicle

3. Risk Disclosure

Participation in the Protocol involves substantial risk of loss. You acknowledge and accept the following risks:

• Smart contract vulnerabilities may result in total loss of deposited funds
• Insurance pool insolvencies may result in full or partial loss of capital
• Oracle failures, liquidation engine failures, or keeper network outages may cause system failures
• Regulatory changes in your jurisdiction may affect your ability to use the Protocol
• The Protocol is experimental software with no history of operation under stress conditions
• Blockchain network failures or congestion may prevent timely execution of transactions
• The Protocol may be upgraded, paused, or deprecated at any time by the multisig authority

4. Eligibility

You represent and warrant that: (a) you are at least 18 years of age; (b) you have the legal capacity to enter into these Terms; (c) your use of the Protocol is not prohibited by applicable law in your jurisdiction; and (d) you are not a resident of, or subject to sanctions imposed by, the United States, the European Union, or any other jurisdiction that restricts your use of decentralized finance protocols.

The Protocol is not available to residents of the United States or any jurisdiction where participation in decentralized financial protocols is prohibited.

5. Prohibited Uses

You agree not to use the Protocol to:

• Violate any applicable law or regulation
• Facilitate money laundering, terrorist financing, or other illegal financial activity
• Manipulate markets, oracles, or protocol parameters in bad faith
• Deploy malicious code or conduct attacks against the Protocol
• Misrepresent your identity or jurisdiction to circumvent access restrictions

6. Intellectual Property

The Protocol's smart contract code is open-source software licensed under the MIT License. The website content, design, and documentation are proprietary to the PercoSec contributors. You may use, modify, and distribute the open-source components in accordance with the applicable license terms.

7. Disclaimer of Warranties

THE PROTOCOL IS PROVIDED “AS IS” AND “AS AVAILABLE” WITHOUT WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED. THE PROTOCOL CONTRIBUTORS EXPRESSLY DISCLAIM ALL WARRANTIES, INCLUDING IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT. WE DO NOT WARRANT THAT THE PROTOCOL WILL OPERATE ERROR-FREE, THAT DEFECTS WILL BE CORRECTED, OR THAT THE PROTOCOL IS FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS.

8. Limitation of Liability

TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, THE PROTOCOL CONTRIBUTORS SHALL NOT BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES, INCLUDING BUT NOT LIMITED TO LOSS OF PROFITS, DATA, GOODWILL, OR OTHER INTANGIBLE LOSSES, RESULTING FROM YOUR ACCESS TO OR USE OF (OR INABILITY TO ACCESS OR USE) THE PROTOCOL.

9. Governing Law

These Terms shall be governed by and construed in accordance with the laws of the jurisdiction in which the Protocol contributors are incorporated, without regard to conflict of law provisions. Any dispute arising out of or related to these Terms shall be submitted to binding arbitration.

10. Changes to Terms

We reserve the right to modify these Terms at any time. Changes will be effective upon posting to the website. Your continued use of the Protocol after any changes constitutes your acceptance of the revised Terms. We will provide notice of material changes where reasonably practicable.

11. Contact

For questions regarding these Terms, please contact the protocol contributors through the official communication channels listed in the documentation.