Local fork

DRAFT FOR LAWYER REVIEW. NOT LEGAL ADVICE. This document was drafted without legal counsel as a starting point for review by a qualified lawyer in the relevant jurisdictions. It must not be published or relied on until it has been reviewed and approved. Text in [SQUARE BRACKETS] is a placeholder or an open decision. Paragraphs marked [DRAFTING NOTE] are notes to the reviewer and must be removed before publication.

Placeholders to fill: [ENTITY NAME], [ENTITY TYPE], [REGISTERED ADDRESS], [JURISDICTION OF INCORPORATION], [GOVERNING LAW], [ARBITRATION RULES AND INSTITUTION], [SEAT OF ARBITRATION], [SMALL CLAIMS COURTS], [SMALL CLAIMS LIMIT], [LIABILITY CAP], [AMOUNT] (three-arbitrator threshold), [LICENCE] (contracts' source licence), [LEGAL EMAIL], [SECURITY EMAIL], [SUPPORT CHANNEL], [ANNOUNCEMENTS CHANNEL], [DOCS URL], [EFFECTIVE DATE], [VERSION], and the current parameter values marked [CURRENT: …].

Terms of Service

Version [VERSION]. Effective [EFFECTIVE DATE].

Doubt is a website at doubt.family for shorting and lending Pons memecoins on Robinhood Chain. It is operated by [ENTITY NAME]. It lets you do two things: Deposit a coin so that others can borrow it, and earn fees for that; or Open short on a coin you do not own, by putting up USDG so that a smart contract can borrow the coin and sell it for you. These terms govern the website. They do not govern the smart contracts, the chain, the coins or anyone else's service, all of which run on their own terms or on none.

Read the risk section before you use Doubt. Fees are very high, the coins are extremely volatile, the contracts have not been audited, and both sides of every market can lose everything they put in.

1. Who we are, and accepting these terms

The Doubt interface is operated by [ENTITY NAME], a [ENTITY TYPE] organised under the laws of [JURISDICTION OF INCORPORATION], with its registered address at [REGISTERED ADDRESS]. "We", "us" and "our" mean [ENTITY NAME], its affiliates, and the people and service providers that work on Doubt for it. "You" means the person using the interface and, if you are acting for a company or another organisation, that organisation as well. If you act for an organisation, you confirm that you are authorised to bind it.

These terms apply whenever you load the site, connect a wallet, or prepare, sign or manage a transaction through it. By doing any of those things you agree to these terms and to the Privacy Policy, which forms part of them. If you do not agree, do not use Doubt.

You agree that we can give you notices, and that you can accept these terms, electronically, including by signing a message with your wallet.

2. The website is not the protocol

Doubt is a front end. It reads public data from Robinhood Chain, shows it to you, assembles transactions and passes them to your wallet so you can sign them. The markets themselves are smart contracts deployed on Robinhood Chain mainnet (chain ID 4663) (the "Contracts"). The Contracts sell and buy coins through third-party Uniswap v3 and v4 pools, including pools created by the Pons launchpad and pools that use third-party hooks.

The Contracts keep running whether or not this website does. If the site is down, slow, or shows something wrong, your deposit or your short still exists on-chain and can be managed by calling the Contracts directly or through any other compatible interface. If you choose to do that, you do so at your own risk and outside these terms.

We cannot reverse, cancel or edit a transaction once you have signed and broadcast it.

3. We never hold your funds

Doubt is non-custodial. We never take possession of your coins, your USDG or your private keys, and there is no Doubt account holding a balance for you.

  • When you Deposit, your coins move from your wallet into the market Contract for that coin, and the Contract issues receipt shares to your wallet that represent your portion of the market.
  • When you Open short, your USDG moves from your wallet into the market Contract, which holds it as collateral for your short together with the USDG it received from selling the borrowed coins.
  • When you close a short or withdraw a deposit, the Contract sends what is due directly to your wallet.

We cannot move, freeze, seize, recover or return any of it on your behalf. Nothing about your use of Doubt creates a trust, agency, bailment, fiduciary or custodial relationship between you and us. Put plainly, we are not an exchange, a broker, a dealer, a lender, a borrower, a counterparty, a clearing house, a custodian, or a money transmitter. We do not match orders, we do not take the other side of your trade, and we do not lend to you or borrow from you. Lenders lend to the Contracts, and shorts borrow from the Contracts.

4. How Doubt works

This is a plain summary. The Contracts' code is what actually decides what happens, and where this summary and the code disagree, the code wins. More detail is in the documentation at [DOCS URL].

Deposit (lending). You deposit a Pons coin into that coin's market. Traders who open shorts borrow those coins. In return, the market collects fees and interest from shorts, paid in the same coin, and these increase the value of your receipt shares. You keep full exposure to the coin's price: if the coin falls, your deposit is worth less in dollar terms, even as it earns more coins. You may also be offered a one-step option to deposit using USDG, in which case a Contract first buys the coin with your USDG on a Uniswap pool and then deposits it for you.

Open short. You put up USDG as collateral. The Contract borrows coins from the market and sells them on a Uniswap v3 or v4 pool for USDG. The short is 1x: the amount sold is sized to roughly the USDG you put up, less the opening fee, and the Contracts do not allow more. When you close, the Contract uses the USDG in your position to buy back the coins you owe, plus interest and the closing fee, repays the market, and sends you whatever USDG is left. If the coin's price has fallen, more is left over. If it has risen, less is left, and you can lose all of your collateral.

Liquidation. If the coin's price rises far enough that the USDG in your position may not be enough to buy back what you owe, the short can be liquidated. A liquidation closes your short without your consent, buys back the coins, repays the market, pays a reward to whoever triggered it, and returns any USDG left to you. See section 12.

Which coins. The interface can search for any Robinhood Chain token, but markets can only be created and used for Pons coins that the Contracts accept, currently those whose launch liquidity is locked and deep enough. Being listed on Doubt is not an endorsement of a coin, a check of its legitimacy, or a statement that it is safe.

5. Nothing here is advice

Nothing on Doubt is investment, financial, trading, legal, accounting or tax advice, and nothing on it is a recommendation or solicitation to buy, sell, short, lend or hold any asset. That includes the list of coins, the order they appear in, prices, charts, estimated fees and rates, liquidation prices, and any other number, label or colour on the screen. We are not your adviser, your broker or your fiduciary, and we have not assessed whether Doubt, or any transaction on it, is suitable for you. Every transaction you make is your own decision, made without any recommendation from us.

We hold no licence or registration from, and are not supervised by, any securities, derivatives, commodities, banking, money transmission or virtual asset regulator in any jurisdiction.

If you need advice, get it from a qualified professional before you use Doubt.

6. Your wallet is your responsibility

You use a self-custody wallet of your choice, made by someone other than us. We do not control it and are not responsible for it. You alone sign every transaction. We have no ability to sign on your behalf, and once you have signed, we have no ability to halt it. You are responsible for keeping your private keys and recovery phrase secret and safe. If you lose them, or someone else gets them, we cannot help you recover anything. Nobody from Doubt will ever ask you for your recovery phrase or private key.

Before you sign, check what your wallet shows you. Amounts, fees and gas shown before you sign are estimates, and the final result is whatever the transaction does on-chain.

7. Who may use Doubt

You may use Doubt only if all of the following are true, and you confirm they are true each time you use it:

  • you are at least 18 years old and of legal age to enter a binding contract where you live;
  • you are not a Restricted Person and are not acting for, or on behalf of, a Restricted Person (see section 8);
  • you are not located in, resident in, or organised under the laws of a Restricted Jurisdiction (see section 8);
  • using Doubt is lawful for you where you live, where you are located, and anywhere else whose laws apply to you;
  • you have enough knowledge and experience of blockchains, self-custody wallets, memecoins, lending and short selling to understand the risks in section 13 and to evaluate them yourself; and
  • you are using your own funds and your own wallet, and not acting as an agent or intermediary for anyone else, unless you are the authorised representative of an organisation that meets these requirements.

We may refuse, restrict or end your access at any time if we believe any of these is not true.

8. Restricted jurisdictions and sanctions

Sanctions. You may not use Doubt if you, or anyone who owns or controls you or on whose behalf you are acting, (a) is named on, or owned 50% or more by anyone named on, a sanctions or restricted-party list maintained by the United Nations, the United States (including OFAC's Specially Designated Nationals list), the European Union, the United Kingdom, [JURISDICTION OF INCORPORATION], or any other authority whose sanctions apply to us or to you; or (b) is located, resident or organised in a country or region subject to comprehensive sanctions. Each of those is a "Restricted Person".

Restricted Jurisdictions. You may not use Doubt to Deposit, Open short, or otherwise interact with the Contracts if you are a resident of, located in, or organised in any of the following (each a "Restricted Jurisdiction"):

  • the United States of America, its territories and possessions;
  • Cuba, Iran, North Korea, Syria, and the Crimea, so-called Donetsk People's Republic and so-called Luhansk People's Republic regions of Ukraine, and any other country or region subject to comprehensive sanctions;
  • [the United Kingdom];
  • [Canada];
  • [any other jurisdiction listed in the documentation or identified by counsel]; and
  • any other place where using Doubt, or offering it to you, would be unlawful or would require us to hold a licence or registration we do not have.

US persons. In addition, you may not use Doubt if you are a US person, wherever you are located. "US person" includes a US citizen, a US lawful permanent resident, anyone resident in the United States, and any entity organised in the United States or owned or controlled by US persons. Shorting and lending on Doubt involves borrowing and selling digital assets against collateral, and may be treated as a leveraged, margined or derivative transaction, a security-based swap, or a retail commodity transaction under US law. Doubt has not been registered with, or approved by, the SEC, the CFTC or any other US authority, and is not offered to US persons.

Leveraged and derivative products generally. Many jurisdictions restrict or prohibit offering leveraged, margined or derivative products on crypto-assets to retail customers, even at 1x. It is your responsibility to know whether that applies to you. If it does, do not use Doubt.

Controls. We may, but are not obliged to, use IP-based location checks, wallet screening, blocklists or other controls, and we may block any address, region or transaction from the interface at any time without notice. These controls are imperfect and are not a guarantee that other users are eligible. Our using or not using them does not create any duty to you, and getting past a control does not make you eligible.

9. Your location, VPNs and your representations

By using Doubt you represent, and you repeat that representation every time you use it, that you are not a Restricted Person, not a US person, and not resident or located in a Restricted Jurisdiction, and that you are not relying on a VPN, proxy, relay or any other method to hide your location or get around any restriction in these terms.

We largely cannot verify these things, which is why they are your responsibility. A false representation is a breach of these terms. We may then block your address from the interface, and you bear any loss that follows.

[OPTIONAL, IF IMPLEMENTED: signed acceptance] Before your first Deposit or Open short, the interface may ask your wallet to sign a message confirming that you accept the current version of these terms and confirm the representations above. Signing it costs nothing and does not send a transaction. If you decline, you will not be able to Deposit or Open short through the interface. We keep a record of that signature as described in the Privacy Policy, and we may treat it as conclusive evidence that you agreed. When a new version of these terms changes what you are representing, you may be asked to sign again.

10. Fees

Doubt is expensive on purpose. The fees pay lenders for lending coins that can move very fast, and they make every short cost a lot to open and close. Look at them before you trade.

Fees paid by shorts, all paid to lenders in the coin:

  • Opening fee: [CURRENT: 10]%. When you open, the Contract keeps [10]% of the coins it borrows for you as the opening fee, and sells the rest. The USDG you receive from the sale is therefore about [90]% of your collateral, not 100%.
  • Closing fee: [CURRENT: 10]%. When you close, or are liquidated, the Contract buys back the coins you borrowed, plus the interest you owe, plus an extra [10]% of the coins you originally borrowed as the closing fee.
  • Interest. Interest accrues continuously, in the coin, on what you have borrowed. The rate is variable and depends on how much of the market is lent out, within a minimum and maximum set for each market [CURRENT: minimum [X]% and maximum [Y]% a year]. The rate can be very high, and it compounds against you for as long as the short is open.

Together, the opening and closing fees mean the coin's price must fall by roughly [20]% or more, before interest and swap costs, just for a short to break even. A short that is closed at an unchanged price loses about [20]% of its collateral plus interest and costs.

Other costs you pay:

  • Swap costs. Every open and close trades on a Uniswap pool. You bear that pool's swap fee, any fee charged by the pool's hook (for example on Pons V2 pools), price impact, and slippage, which on a thin memecoin pool can be large.
  • Liquidation reward. If your short is liquidated, up to [CURRENT: X]% of your collateral is paid in USDG to whoever triggered the liquidation, on top of the closing fee.
  • Gas. Robinhood Chain network fees for every transaction, paid by you to the network, not to us.
  • Lending with USDG. If you use the one-step USDG deposit, you also bear the swap costs of buying the coin.

How fees reach lenders. Fees and interest are added to the market for lenders and increase the value of their receipt shares. Opening, closing and liquidation fees are released to lenders gradually over about [24 hours] rather than all at once, so depositing just before a trade does not capture its fees. Fees are paid in the coin, so their dollar value moves with the coin's price.

What we take. [As of the effective date, we do not take any share of these fees; they go to lenders. / We take [X]% of [describe] as a protocol fee.] We will state any change here and in the documentation before it applies.

Fees can change. The fees, interest limits and liquidation reward are settings on each market that the Contract owner can change within limits set in the code (see section 11). The code currently allows opening and closing fees of up to 20% each, borrow interest of up to 1,000% a year, and a liquidation reward of up to 5% of collateral. A change may apply to shorts and deposits that are already open. The interface shows the settings that apply at the time you sign, and the Contract applies whatever settings are in force when each action executes.

Taxes. You are solely responsible for working out, reporting and paying any taxes that apply to your use of Doubt. We do not provide tax documents or withhold tax.

11. What the Contract owner can change

The Contracts are administered by an owner address controlled by [ENTITY NAME / describe: a single key / a multisig of N of M signers / a timelock]. Within limits written into the code, the owner can:

  • change each market's settings, including the opening and closing fees, the interest range, the liquidation threshold and reward, the maximum slippage, and the caps on how much can be borrowed per position and per market;
  • change the default settings for new markets and the minimum pool depth a coin needs to be listed;
  • change fees related to certain Uniswap v4 hooks;
  • choose which addresses may record prices and [which addresses may carry out liquidations]; and
  • pause a market, which stops new shorts from being opened in it.

We may use these powers at any time, including quickly and without notice, for example in response to a bug, an exploit, market manipulation, or a legal requirement. We will try to use them sensibly, but we make no promise that we will use them, or use them in any particular way, and using or not using them is not a breach of these terms. If the owner key were lost, stolen or misused, markets could be misconfigured in ways that hurt users.

12. Liquidations

A short becomes liquidatable when the estimated cost of buying back what it owes, including the closing fee, rises above a set share of the USDG in the position. The Contracts estimate that cost from a recent price (currently a short-term median of about two minutes) that must also agree with the live pool price.

[Anyone can trigger a liquidation of a liquidatable short by calling the Contract, and receives the liquidation reward for doing so.]

Some things you should know:

  • You will not be warned. We do not promise any margin call, notification or grace period. The liquidation price shown on screen is an estimate.
  • You can lose all of your collateral. A liquidation buys back the coins at whatever the pool price is at that moment, within bounds set by the Contract, and on a thin memecoin pool that price can be far worse than the price shown.
  • Liquidations can be late or not happen. If price data is stale, not warmed up, or disagrees with the pool, or if nobody triggers a liquidation, a short can stay open while it becomes more and more under-collateralised. That can cause bad debt for lenders.
  • We may liquidate. We, our affiliates, or bots we run may trigger liquidations and keep the reward. That is not a conflict we will manage on your behalf, and it gives us no duty to liquidate, or not to liquidate, any position.
  • Unclaimed USDG. If the USDG left over after a liquidation cannot be sent to your wallet, the Contract holds it for you to claim.

13. Risk disclosure: you can lose everything you put in

Using Doubt is extremely risky. It is not a savings product, it has no floor, and it is not a safe way to earn yield. Only use money you can afford to lose completely. By using Doubt you confirm that you understand and accept the risks below, and that we cannot remove any of them. This list is not complete.

Memecoins

  • Memecoins are extremely volatile. Prices can double, halve or go to zero within minutes, with or without news. They have no fundamental value, no issuer obligations, and usually no information you can rely on.
  • Manipulation and thin liquidity. Memecoin pools are thin and easy to move. Prices can be pushed around by large holders, coordinated groups, bots, sandwich attacks and other on-chain actors. A price on screen can be gone by the time your transaction executes.
  • Creator and holder behaviour. Coin creators and large holders can sell, abandon a project, or act against other holders. Locked launch liquidity reduces some risks but does not remove them.
  • Delisting and failure. A coin can lose its liquidity or stop being usable in its market.

If you Open short

  • Your losses grow as the price rises. If the coin's price rises, your short loses value quickly, and a rise of roughly [X]% or more can mean liquidation and the loss of all of your collateral. Memecoins can rise that much in minutes.
  • Costs are front-loaded and high. With [10]% to open, [10]% to close, interest, and swap costs, you lose money even if the price does not move, and you need a large fall just to break even.
  • Interest can be very high. Interest is variable, can rise sharply when the market is heavily borrowed, and is charged in the coin, so it costs more in USDG as the price rises.
  • Execution risk. Your sale and buy-back happen on a Uniswap pool at the price available when the transaction executes. Slippage, price impact, and front-running can make both much worse than expected. Your transaction can also fail, and you still pay gas.
  • You may not be able to open or close when you want. Opens can be refused because a market is paused, a borrowing cap is reached, or not enough coins are available. Closes can fail if the pool cannot fill the buy-back within the allowed slippage, if the chain is congested, or for other reasons.
  • Squeezes. A heavily shorted coin can be driven up deliberately, forcing liquidations that push the price up further.

If you Deposit (lend)

  • Bad debt. If a short's collateral is not enough to buy back all the coins it owes, for example because the price jumps, the pool is thin, a liquidation is late, or price data is unavailable, the shortfall is lost. It is shared by all lenders in that market and reduces the value of your receipt shares. You can lose some or all of your deposit this way even if the coin's price later returns.
  • You still hold the coin. Your deposit is exposed to the coin's full price risk. Fees and interest are paid in the coin, so if the coin falls to zero, so do they.
  • You may not be able to withdraw when you want. You can only withdraw coins that are sitting unused in the market. When a large share is lent out to shorts, withdrawals may be partly or wholly unavailable until shorts close or are liquidated, which may take a long time or never happen.
  • Fees are not guaranteed. Earnings depend on how many shorts open and close, how long they stay open, and the market settings, all of which can change. Estimated rates on screen are not a promise. Fees are released gradually, and any bad debt is taken off them.
  • Your receipt shares are only as good as the Contract. They represent a share of whatever the market holds and is owed. If the market is exploited or goes bad, they can become worthless.

Smart contracts

  • The Contracts are unaudited. No independent security firm has audited the Contracts. [An internal review found issues that we have tried to fix.] Unaudited code is much more likely to contain bugs.
  • Bugs and exploits. A bug in the Contracts, or in any contract they rely on (Uniswap v3 and v4, Pons contracts and hooks, the USDG token, WETH, multicall contracts, or others), can lead to a permanent loss of all funds in a market. Attackers actively look for these bugs.
  • Composability. The Contracts interact with other protocols that can change, pause, be upgraded or fail, in ways we do not control or foresee.
  • Admin key risk. The owner key described in section 11 can change market settings and pause markets. If it is misused, compromised or lost, users can be harmed.
  • Experimental software. Doubt is new and has not been tested at scale. Treat it as experimental.

Price data and oracles

  • Price data can be wrong, stale, or manipulated. Liquidations and safety limits rely on prices recorded on-chain [by keeper addresses we operate or approve] and on live Uniswap pool prices. These can be manipulated, lag fast moves, or become unavailable. Bad price data can cause a short to be liquidated unfairly, or to escape liquidation when it should not, leaving lenders with bad debt.
  • Price data can pause the system. If the recorded price is not ready or disagrees with the pool, liquidations and some actions may be blocked until it recovers.

The chain, stablecoins and other infrastructure

  • Robinhood Chain is new. It can halt, slow down, reorganise, change its rules, or have its sequencer or bridge go down or be censored. Congestion and gas spikes can stop your transactions going through when you most need them to.
  • USDG. USDG is a stablecoin issued by a third party. It can lose its peg, be frozen or blocked by its issuer, or be affected by that issuer's failure or regulatory action. A frozen address may not receive USDG from the Contracts.
  • Transactions are final. Blockchain transactions cannot be reversed or refunded, by us or anyone else.
  • Wallet and device risk. Phishing sites, malicious approvals, fake tokens with similar names, malware and compromised devices can drain your wallet. Always check you are on doubt.family.

Legal, regulatory and tax

  • Regulation is unsettled. Laws on crypto-assets, lending, short selling and derivatives are changing and can change against you. A change could make Doubt unavailable, force it to close, or make your position unlawful to hold or hard to exit.
  • No protection schemes. Nothing on Doubt is a bank deposit or an insured product. It is not covered by any deposit insurance, investor compensation or government guarantee scheme anywhere.
  • Tax. Opening, closing, lending, earning fees and being liquidated may each have tax consequences for you.

14. What the interface depends on

Between you and the Contracts sit third parties we do not control, including your wallet software, WalletConnect (operated by Reown) if you use it, the RPC node providers that the interface uses to read and send data to Robinhood Chain, GeckoTerminal and DexScreener for token names, logos and some market data, and our hosting provider. If any of them fails, lags or returns bad data, Doubt may fail, lag or show bad data as well. We do not endorse or guarantee them, and their own terms and privacy policies govern what they do. Links to other sites are for convenience only.

15. The numbers on screen

Balances, positions, debts, fees, rates, liquidation prices and pool prices shown on Doubt are read from the chain or from third-party services, or estimated from them, and can be delayed, incomplete, or wrong. Token names, symbols and logos come from third parties and can be misleading; two coins can share a name. Estimated returns, interest rates and break-even figures are based on current or past conditions and are not a promise of future results. The Contracts decide what actually happens, and the result of a transaction is whatever it does on-chain, not what the interface predicted.

16. Availability

We do not promise that Doubt will be available at any time or at all. We may change, suspend, or stop any part of the interface, add or remove markets from it, or block any user or address, at any time and without notice. Removing a market from the interface does not affect it on-chain; you can still manage it through the Contracts directly.

17. Prohibited uses

You must not use Doubt, or help anyone else use it, to:

  • break any law or regulation, including sanctions, anti-money-laundering, counter-terrorist-financing, market abuse, securities, derivatives, commodities or tax laws;
  • move proceeds of crime, fund terrorism, or hide where funds come from or where they go;
  • access Doubt from a Restricted Jurisdiction, as or for a Restricted Person or US person, or get around any location, eligibility or screening control;
  • manipulate any market, price, oracle or pool, including through wash trading, spoofing, pump-and-dump schemes, coordinated squeezes, price manipulation to cause liquidations, or sandwiching other users;
  • exploit a bug, error or vulnerability in the interface or the Contracts to take funds or value you are not entitled to, rather than reporting it to [SECURITY EMAIL];
  • attack, overload, probe, scrape at scale, reverse engineer, or interfere with the interface, its servers, or the services it uses;
  • use bots or automated tools against the interface in a way that harms its operation or other users;
  • upload or send malware, or use Doubt for phishing or fraud;
  • impersonate us, or present a copy of Doubt as ours; or
  • infringe anyone's intellectual property or other rights.

If we believe you have broken this section, we may block your access and report you to the relevant authorities, in addition to any other right we have.

18. Your licence, and our intellectual property

We give you a personal, limited, revocable, non-exclusive, non-transferable licence to use the interface for its intended purpose, in line with these terms. The Doubt name and logo, the design of the interface, and the text on the site belong to us or our licensors. These terms do not give you any right to them. The Uniswap, Pons, Robinhood, USDG and coin names and marks belong to their owners, and we claim no right in them.

[The Contracts' source code is published under the [LICENCE] licence, which governs your use of that code.]

If you send us feedback, suggestions or bug reports, we may use them freely, without paying you or crediting you.

19. No warranties

Doubt is provided "as is" and "as available", without any warranty of any kind, express or implied, including any warranty of merchantability, fitness for a particular purpose, title, non-infringement, accuracy, availability, security, or that it will be free of errors, bugs or harmful code. We make no warranty about the Contracts, Robinhood Chain, Uniswap, Pons, USDG, any coin, or any third-party service, including that any of them is safe, solvent, legitimate, or will work as described.

Some jurisdictions do not allow certain warranties to be excluded. In those jurisdictions, this section applies to the fullest extent the law allows.

20. Limitation of liability

To the fullest extent the law allows, we will not be liable to you for any loss or damage arising out of or connected with Doubt, these terms, the Contracts, or any transaction, however caused and on any legal theory (contract, tort including negligence, strict liability, or otherwise). This includes, without limitation:

  • loss of coins, USDG or any other asset, including through liquidation, bad debt, price movements, slippage or failed transactions;
  • losses caused by bugs, exploits or failures in the Contracts or any contract, chain, oracle, token or service they depend on;
  • losses caused by wrong, delayed or missing information on the interface;
  • losses caused by changes to market settings, pauses, or the interface being unavailable;
  • losses caused by your wallet, your device, your keys, or unauthorised access to them; and
  • any indirect, incidental, special, consequential, exemplary or punitive loss, and any loss of profits, revenue, data, goodwill or opportunity,

even if we knew or should have known such loss was possible.

Where our liability cannot be excluded, our total liability to you for all claims together is limited to the greater of [LIABILITY CAP, e.g. USD 100] and the fees, if any, that you paid directly to us in the 12 months before the claim arose.

Nothing in these terms limits liability for fraud, for wilful misconduct, for death or personal injury caused by negligence, or for anything else that cannot be limited by law. If you are a consumer, you may have statutory rights that these terms cannot remove, and nothing in these terms affects them.

Our affiliates, contributors, service providers, and anyone who holds keys to the Contracts on our behalf may rely on sections 19, 20 and 21 as if they were party to these terms.

21. Indemnity

To the fullest extent the law allows, you agree to defend, indemnify and hold harmless us and the people listed at the end of section 20 from any claim, demand, loss, liability, penalty, cost or expense (including reasonable legal fees) arising out of or connected with your use of Doubt, your breach of these terms, your breach of any law or regulation, your violation of anyone else's rights, or any false representation you made. We may take over the defence or settlement of any such claim, and you will cooperate with us if we do.

22. Disputes and governing law

Governing law. These terms, and any dispute or non-contractual obligation arising out of or connected with them or with Doubt, are governed by the laws of [GOVERNING LAW], without regard to its conflict-of-laws rules.

Talk to us first. Before starting any formal proceedings, you agree to send a written description of your dispute to [LEGAL EMAIL], and both sides will try in good faith to resolve it for at least [30] days. This step must be completed before arbitration or court proceedings can start, except for urgent relief.

Arbitration. If the dispute is not resolved, it will be finally resolved by binding arbitration under the [ARBITRATION RULES AND INSTITUTION]. The seat of arbitration is [SEAT OF ARBITRATION], the language is English, and there will be one arbitrator [unless the amount in dispute exceeds [AMOUNT], in which case there will be three]. The arbitrator's award is final and may be enforced in any court that has jurisdiction.

Individual claims only. You and we each agree to bring claims only in an individual capacity, and not as a plaintiff or class member in any class, collective, consolidated or representative proceeding. The arbitrator may not consolidate claims or preside over any form of class or representative proceeding.

Exceptions. Either side may (a) bring an individual claim of up to [SMALL CLAIMS LIMIT] in [SMALL CLAIMS COURTS]; (b) ask a competent court for urgent, interim or injunctive relief; or (c) bring a claim that the law does not allow to be arbitrated.

Time limit. To the extent the law allows, any claim must be started within [one year] after it arose, or it is permanently barred.

Consumers. If you are a consumer and the law where you live gives you a right to bring proceedings in your local courts, or makes any part of this section unenforceable against you, this section applies only as far as that law allows.

23. Changes to these terms

We may change these terms at any time. The current version, with its version number and effective date, is always on this page. If a change is material, we will try to give reasonable notice, for example on the site or through [ANNOUNCEMENTS CHANNEL], before it takes effect, except where a change is needed quickly for legal, security or safety reasons. Continuing to use Doubt after a change takes effect means you accept the new terms. If you do not agree, stop using Doubt; you can still close shorts and withdraw deposits directly through the Contracts.

[If signed acceptance is implemented: acceptance is tied to a version. When a change affects what you represent in section 9, we may ask you to sign again before you next Deposit or Open short.]

24. General

  • Entire agreement. These terms, together with the Privacy Policy, form the complete agreement between you and us about the interface and supersede any earlier understanding.
  • Severability. If any part of these terms is found unenforceable, the rest stays in force, and that part applies as far as the law allows.
  • No waiver. If we do not enforce a right straight away, we have not given it up.
  • Assignment. You may not transfer your rights or obligations under these terms. We may transfer ours to an affiliate or to a successor in a merger, acquisition, reorganisation or sale of assets.
  • Events beyond our control. We are not responsible for any failure or delay caused by events beyond our reasonable control, including chain outages, attacks, failures of third-party services, changes in law, or actions of authorities.
  • Survival. Sections 3, 5, 10 (taxes), 13, and 18 to 24 continue to apply after you stop using Doubt.
  • Language. If these terms are translated, the English version governs.
  • Headings are for convenience only and do not affect meaning.

25. Contact

Send questions about these terms, and all formal legal notices, to [LEGAL EMAIL]. To report a security vulnerability, write to [SECURITY EMAIL] with steps to reproduce it. Community support is available at [SUPPORT CHANNEL] and announcements are posted on [ANNOUNCEMENTS CHANNEL]; neither is a channel for legal notices.

[ENTITY NAME], [REGISTERED ADDRESS].