Risk factors & Disclaimers
Interacting with Hats.finance platforms requires a certain level of understanding and risk tolerance. Users should perform their due diligence and fully comprehend the inherent risks before participating.
Smart Contract and Software Risks:
Despite meticulous examination and auditing of all Hats.finance smart contracts, including those for onboarded and upcoming vaults, the risk cannot be entirely mitigated. Security audits substantially reduce, but do not wholly eliminate, potential vulnerabilities. As a user, it's essential to commit only those funds that you can afford and are willing to risk.
Governance and $HAT Token Risks:
Hats governance does not control user funds directly. However, it does manage certain protocol parameters that can impact user rewards and fund availability. These parameters include the withdrawal request period, withdrawal period, and allocation points per vault.
For instance, governance could set an extended withdrawal request period, potentially delaying withdrawals for an indefinite time. It's crucial to understand these possibilities and their implications.
Data Accuracy and Distribution Changes:
The data regarding Hats distribution presented on our website may not perfectly align with actual user distribution due to two primary reasons:
a. Potential calculation errors in the website's front-end.
b. The Hats governance DAO retains the power to adjust the Liquidity mining distribution.
- 1.The Protocol facilitates the deposit of specific blockchain-based cryptocurrencies, interaction with various Vaults, and implements a smart contract dictating the process for security professionals' rewards. The decision to join a Vault rests entirely with you. It's important to understand that neither IA nor Hats DAO commit to confirming the identity of any committee members, nor do they assume responsibility or liability for the actions or inactions of any other Protocol users.
- 2.Note that transactions, such as deposits or withdrawals to or from Vaults, are irreversible and can't be 'canceled' or 'undone.' Therefore, IA and Hats DAO hold no responsibility for any transactions made in error.
- 3.By using the Protocol or any Vault, or depositing cryptocurrencies or other digital assets, you acknowledge the associated risks and agree to abide by the rules embedded in the Protocol, as well as those set by the Hats DAO and Vault committee members. All such actions are undertaken at your own risk.
- 4.The Protocol, Vaults, and blockchain networks are open-source, decentralized systems that may still be under active development. They might contain bugs, errors, and defects; experience periods of downtime or malfunction; lead to total or partial loss or corruption of cryptocurrencies deposited or data; and can be modified at any time, including through updates or newer versions, potentially without prior notice. IA and the Hats DAO disclaim any liability for any losses or damages you may incur due to these risks.
- 5.When initiating a transaction, please be aware that there might be a delay before its execution, or potential malfunctions may arise. These issues could be due to inherent delays within the blockchain's underlying structure. IA and Hats DAO bear no responsibility or liability for such delays or malfunctions. Your interaction with the Protocol is solely at your discretion and risk.
Security Professional Submission Risks:
Submissions made by security professionals in the context of skin-in-the-game audits, audit competitions, and bug bounties involve specific uncertainties. While we endeavor to provide fair and transparent processes for these submissions, several risk factors are worth noting:
Evaluation of Submissions: The determination of the validity and value of a submission is subjective and relies on the discretion of the evaluating panel. Although we strive for impartial and consistent evaluations, discrepancies in judgments could occur.
Reward Payment: Reward distribution is contingent on the availability of funds and the discretion of Hats.finance governance. There might be delays or changes in the payment method and structure.
Ranking and Competition: In competitive audit environments, there's the inherent risk that a security professional's submission may not be the first of its kind, rendering it ineligible for a reward despite its validity.
Risk of Exposure: There's always a risk that a discovered vulnerability could be exploited if not promptly or adequately addressed. Hats.finance cannot be held responsible for any potential exploitation of these disclosed vulnerabilities.
As a security professional, it's essential to consider these risks before participation. Hats.finance cannot be held liable for any issues that may arise from a security professional's involvement in these activities.
At this stage, the crypto market is inherently volatile and subject to fluctuations which can impact the value of $HAT and other associated tokens. Hats.finance does not guarantee profits and is not liable for any financial losses incurred while using the platform. Users should have a thorough understanding of cryptocurrency investment risks and seek independent financial advice if necessary.