By creating a wallet and using the Genesis platform, you acknowledge, understand, and agree to the following legally binding terms:
1. Wallet Security & Sole Responsibility
Credentials Are Your Responsibility: Upon creation, you will be shown a private key and a 12-word recovery phrase ("Credentials"). These will be shown only once. It is your sole responsibility to store these Credentials in a secure offline location. Do not store them digitally.
No Central Recovery: Genesis is a decentralized platform. We do not store your Credentials in any database. We have no way to access your wallet, recover your funds, or reset your password if your Credentials are lost or stolen. You are the sole custodian of your funds, and any loss of Credentials will result in the permanent, irreversible loss of your assets.
2. Assumption of Risk & Limitation of Liability
Inherent Investment Risks: You acknowledge that cryptocurrencies are extremely volatile and carry high financial risk. The value of GNS can rise or fall drastically. You declare that you are investing funds you can afford to lose entirely.
No Guarantees: The Genesis platform and its team provide no guarantees of profit or returns. All investments are made at your own risk and do not constitute financial advice.
3. Legal & Regulatory Compliance
Your Legal Responsibility: You are solely responsible for complying with all applicable laws and regulations in your jurisdiction, including but not limited to, taxation of crypto assets and Anti-Money Laundering (AML) requirements.
4. GNS-20 Token Creation & Third-Party Asset Risks
You Are The Issuer: The Genesis platform provides tools to create your own GNS-20 standard tokens. When you create a token, you are its sole issuer and are fully responsible for its purpose, tokenomics, and legal compliance. The Genesis platform is a technology provider and does not endorse, audit, or take responsibility for any user-created tokens.
Extreme Investment Risk: You acknowledge that anyone can create a GNS-20 token. The platform does not vet or verify these third-party assets. Interacting with or investing in user-created GNS-20 tokens carries extreme risk, including the possibility of "rug pulls," scams, smart contract vulnerabilities, and the total loss of your investment. Always Do Your Own Research (DYOR) before investing in any GNS-20 token.
Limitation of Liability: You agree to hold the Genesis platform harmless from any losses incurred from creating, trading, or interacting with any GNS-20 tokens.
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