An interface to smart contracts, not a broker

These terms are between you and Digital Native Standard LTD, a company incorporated in the British Virgin Islands (“we”). By using the interface you accept them. If you do not, do not use it.

• Self-custodial. You hold your own keys. We never take custody of your assets and cannot move, freeze or recover them.
• Non-custodial routing only. The interface helps you construct transactions. The smart contracts execute them. We are not a broker, exchange, custodian, or money transmitter, and we do not match trades ourselves.
• No reversals. Once you sign, the transaction is out of our hands. There is no cancel, no chargeback, and no support channel that can undo it.
• Availability is not promised. The interface, indexers and price data can go down. The underlying contracts may remain usable without us.
• Fees are charged by the contracts. Takers pay a fee on each fill, part of which goes to us and, for pool fills, part to liquidity providers. Launching a token costs a flat fee. Makers, auctions, deposits and withdrawals pay nothing. Every rate and recipient is published at rate.limo/fees. We can change the rates; a change applies only to fills after it, and that page changes with it.

You must be at least the age of majority where you live — 18 in most places — and legally able to enter this agreement.

You may not use the interface if you are a citizen or resident of, or located in, any country or territory subject to comprehensive United States sanctions, or if you appear on any applicable sanctions list. That set is defined by the sanctions programmes themselves rather than fixed by us, so it changes when they do; as at the date above it covers Cuba, Iran, North Korea, Syria, and the Crimea, Donetsk and Luhansk regions of Ukraine. You are responsible for knowing whether your own laws permit what you are doing.

Nothing in the interface is financial, investment, legal or tax advice. Prices, charts, APRs, points, projected earnings and market data are for information only, may be wrong or stale, and are not a recommendation to do anything. Decide for yourself, and take your own professional advice.

• Total loss. Digital assets are volatile and can go to zero. Never commit more than you can afford to lose entirely.
• Smart contract risk. Contracts may contain bugs or be exploited. An audit reduces risk; it does not remove it.
• Execution risk. Slippage, price impact, failed transactions, gas costs, and value extracted by transaction ordering (MEV) can all leave you worse off than the quote suggested.
• Pool pricing can be pushed. Liquidity pools on Rate price each trade from the order book's recent average price. Orders placed on the book, including orders later cancelled, move that price, and the per-order limit does not cap the cumulative movement. Where one side of a pool holds little or nothing, a third party may move the price and trade against the pool at it, which can cause you to lose some or all of the liquidity you provided. This applies to every pool, including a launched coin's pool after graduation. See rate.limo/fees#risks.
• Liquidity risk. Providing liquidity can return less than you deposited. As the price moves through your bands, your deposit converts into the other token, and that can be worth less than the fees you earned. Fees vest over time: withdrawing before they have vested forfeits the unvested part in proportion to what you withdraw.
• Data risk. Oracles and indexers can be delayed, wrong, or offline, and the interface may display stale information as a result.
• Testnet assets have no value. Testnet tokens, points and rewards are not money and carry no promise of future value or conversion.

If you deploy a token through the interface, you are its author and you are responsible for it. Specifically:

• Deployment is permanent. The name, symbol, decimals and supply are fixed at deploy. There is no owner and no mint function, so nobody — including us — can change them afterwards.
• Listing is not liquidity. Launching deploys your coin and opens a market for it. It does not place orders or provide liquidity, and the supply is sent to you. A market with nothing resting in it cannot be traded until someone posts an order.
• The listing price and fees are not yours to set. Every coin lists against an approved quote token at a rate we configure. Launching costs a flat fee, paid in the chain's gas token; nothing is taken from the supply. Your coin's market charges the same trading fees as every other market on Rate, listed at rate.limo/fees, and you receive no share of them.
• You warrant your content. The name, logo, description and links you supply must be yours to use and must not infringe anyone's rights, impersonate another project, or be unlawful or deceptive.
• We can remove metadata. We may hide, correct or remove the name, logo and description shown in this interface — for example where it impersonates another project. This changes what the interface displays. It does not and cannot alter the deployed contract.
• A listing is not an endorsement. Appearing in the interface, and any badge shown next to a token, does not mean we have reviewed, audited or approved the project, its team or its contracts, and is not a statement that it is safe or a good idea. A badge signifies exactly two things and nothing more: that the market crossed the automatic liquidity threshold described below, or that an operator set the flag by hand. Neither involves examining the project.
• Listing is automatic, and it is a threshold, not a judgement. A new coin starts unlisted: it is reachable by address, by search and in the launches views, but it is left out of rankings, default tables and totals. It is listed automatically once its market holds a set amount of liquidity in the quote asset. No person reviews it at that point, and crossing the threshold says nothing about the project beyond the fact that money is on the other side of its book. The amount is set by us and can change. Once listed, a coin stays listed until an operator hides it — a later fall in liquidity does not remove it on its own.
• You are responsible for your own compliance. Issuing a token may be a regulated activity where you are. That is your problem to solve, not ours.

A token can also launch through an auction. The creator sets the terms and the contract enforces them; we do not review, run or guarantee any sale. If you take part:

• One fixed price. Every buyer pays the price the creator set. The auction does not discover a price, and the market price after launch can be higher or lower.
• Commitments are locked until the sale ends. Once you commit, you cannot withdraw while the sale runs. Each wallet has a cap set by the creator.
• Oversubscribed sales fill pro-rata. If more is committed than the sale accepts, everyone receives the same share of their commitment in tokens and the rest back. You claim both yourself.
• Sales can fail, and then you are refunded in full. A sale that ends below its minimum fails. So does one whose token is listed by anyone else before it graduates. In both cases you claim your whole commitment back.
• Graduation opens the market. A successful sale graduates into a market on the order book. At least 20% of the accepted raise, with tokens, becomes liquidity that stays locked for a period the creator chooses, which can be short. The rest of the raise goes to the address the creator named. Until a sale graduates, committed funds stay in the contract; if the creator does not configure graduation, an operator can.
• The creator's tokens vest. On a schedule the creator chose, after a cliff. Vesting delays when they can sell; it does not stop them selling afterwards.
• We do not vet sales. Being able to join an auction here is not an endorsement of the token, its team or its plans.

• Points follow published rules, and the rules can change. Points are counted from your activity under rules we publish and may change between seasons. Points are not money, cannot be transferred, and have no value on their own.
• Rewards are paid per season. Where a season pays out in a token, the amount follows the published rules at the season's close. On testnet, those tokens have no value and carry no promise of future value or conversion.
• Referrals. If someone joins through your link, you earn the share of their trading fees the rules describe, as points. Referring yourself, or inflating activity to earn more, breaks section 9.

• Use the interface for money laundering, sanctions evasion, fraud, or any other unlawful purpose.
• Manipulate markets, including wash trading and spoofing.
• Refer yourself, or inflate activity with fake or circular trades, to earn points or rewards.
• Attack the interface or its infrastructure — scraping at abusive rates, probing for vulnerabilities without permission, or interfering with anyone else's use of it.
• Misrepresent yourself as Rate or as connected to us.

The Rate name and branding are ours. Source code is licensed under the terms published in the repository, and those terms govern the code. Nothing here grants you a licence to use our branding.

The interface is provided “as is” and “as available”, without warranty of any kind — express or implied, including merchantability, fitness for a particular purpose, and non-infringement. We do not warrant that it will be uninterrupted, timely, secure or free of error, or that any data shown is accurate.

You transact from your own wallet, with contracts that execute on their own, and we are never a party to it. We take no custody, hold no balance, execute nothing on your behalf and can reverse nothing. There is no point at which your assets pass through us, and so no point at which we could have caused you a loss or could restore one.

Accordingly, and to the fullest extent the law allows, we accept no liability for any loss arising from your use of the interface — including lost profits, lost assets and lost opportunity, and including losses caused by smart contract failure, network congestion, MEV, oracle error, or your own transaction choices. Where liability cannot lawfully be excluded, it is capped at the greater of the protocol fees we received from your transactions in the 12 months before the claim and [fixed sum, e.g. US$100].

You agree to cover us against claims arising from your use of the interface, your breach of these terms, and any token or content you publish through it.

We may change these terms, and may restrict or withdraw access to the interface at any time, including where required by law. Material changes will be reflected in the date above. These terms are governed by the laws of the British Virgin Islands.

Talk to us first. Before starting any claim, tell us about the dispute in writing at [contact email]. If it is not resolved within 30 days, either side may start arbitration.

Then arbitration, not court. Any dispute, controversy or claim arising out of or relating to these terms or the interface, including their breach, termination or validity, will be settled by arbitration under the BVI IAC Arbitration Rules. The seat is the British Virgin Islands, there is one arbitrator, the language is English, and the proceedings and award are confidential.

Individual claims only. Disputes are resolved for you individually. You may not bring or join a class, collective or representative action against us, and an arbitrator may not consolidate your claim with anyone else's.

Some places do not let these terms take away your right to go to a local court or join a collective claim. Where that is the case, those rights are unaffected.

See also the privacy policy and cookie policy.