Terms & Conditions
Last modified: November 28, 2023Welcome to FireBot!
These terms and conditions outline the rules and regulations for the use of FireBot's website, located at https://firebot.gg/.
These terms and conditions also encompass Sweeep (https://sweeep.gg/), a sub-protocol that operates atop FireBot.
By accessing this website, we assume you accept these terms and conditions. Do not continue to use FireBot if you do not agree to take all the terms and conditions stated on this page.
The following terminology applies to these Terms and Conditions, Privacy Statement and Disclaimer Notice and all Agreements: "User", "Client", "You", and "Your" refers to you, the person log on this website and compliant to the Company’s terms and conditions. "The platform", "The Company", "Ourselves", "We", "Our" and "Us", refers to our Company. "Party", "Parties", or "Us", refers to both the Client and our stated services. Any use of the above terminology or other words in the singular, plural, capitalization and/or he/she or they, are taken as interchangeable and therefore as referring to same.
Fair use of our Website and Software
1. By using our website and software, you declare to be at least 18 years old.
2. You may not use the website and software in such a way that you violate the UAE law or any other applicable laws and regulations.
3. As a condition for using the website and software, you agree not to provide any information, data, or content to us or the website and software that is incorrect, inaccurate, incomplete, or that violates any law or regulation. In addition, you agree that you will not, nor allow third parties to:
- a. Enter any non-public/secure areas of the website or software.
- b. Send viruses, worms, junk mail, spam, chain letters, unsolicited offers, or ads of any kind and for any purpose.
- c. Investigate, scan, or test the website or software or any other related system or network, or violate any security or authentication.
- d. Create derivative works of any kind whatsoever (See “License”).
4. You may not create an account under someone else’s name or act like someone else in any other way.
5. In case the account concerns a corporate account, only an authorized person can trade with the corporate account. It is the responsibility of the user of the corporate account that only authorized persons have access to the account.
6. If you receive personal data or other sensitive information from other users, you will keep this information secret.
7. FireBot is entitled to (temporarily or permanently) block your account and deny you access to the Website if we suspect abuse of the account or the Website. We can also block your account or deny you access to the platform if you do not comply with these Terms, including conditions and policies referenced herein.
8. By using our website and software, you declare to be a non-US user, as it would not make you eligible to open a legitimate Binance account, necessary to use the solution.
Access Restrictions for Certain Jurisdictions
1. Access to the ecosystem and services (hereinafter referred to as 'the Ecosystem') may be subject to restrictions in certain jurisdictions where the use of blockchain, DeFi and/or crypto-assets products is forbidden. It is your responsibility to determine whether you are eligible to access the Ecosystem based on your local laws and regulations.
2. By using or attempting to access the Ecosystem, you confirm and agree that you are in compliance with the laws and regulations of your jurisdiction. If you are unsure about your eligibility, we strongly recommend seeking legal advice to ensure compliance.
3. Any attempt to access the Ecosystem in violation of your local laws and regulations may result in legal consequences, as permitted by applicable laws.
4. We want to clarify that our platform provides a front-end interface to interact with the smart contracts that underlie the Ecosystem. These smart contracts operate on the Polygon blockchain in a permissionless and decentralized manner. They function independently of our control or influence.
5. Be aware that all transactions involving the Ecosystem's smart contracts are public and traceable on the Polygon blockchain. This transparency is inherent to blockchain technology, and it ensures that all transactions can be monitored for compliance with AML regulations, as Polygon, being a public blockchain, makes transaction details publicly accessible and immutable by design.
6. We reserve the right to take any measures necessary to prevent access to the Ecosystem from jurisdictions where blockchain and DeFi usage is forbidden, including but not limited to IP blocking or other technical restrictions.
7. If you believe that you have accessed the Ecosystem in error or without a clear understanding of your legal obligations, please contact us immediately to resolve the matter.
8. This clause is in compliance with our commitment to adhere to relevant legal requirements and regulations. We reserve the right to modify or update this clause as necessary to remain compliant with changing legal standards.
9. If you do not agree with the terms of access restrictions in your jurisdiction, please refrain from using or attempting to access the Ecosystem.
About FBX - The FireBot DAO Governance Token
FBX is the governance token of the FireBot DAO, which exists independently of our entity. Our entity is dedicated to open source contributions to the blockchain ecosystem and the maintenance of this website. FireBot DAO, governed by FBX holders, plays a key role in decision-making processes related to the FireBot ecosystem.
It's important to clarify that FireBot is not a tokenized fund, and FBX does not represent a token or security that can be redeemed for shares or parts of the DAO's treasury. FBX solely exists on the blockchain and has no intrinsic value beyond its role within the FireBot DAO governance framework.
FBX can be freely traded on decentralized exchanges (DEXs) and is designed to facilitate community participation and decision-making within the FireBot ecosystem. It is not an investment vehicle, and holders of FBX should participate in the governance process with the understanding that it represents a means to influence the development and direction of FireBot DAO's activities.
Early Access
The Algorithm is available in early access, it is ready for production, but frequent updates are expected. These updates might include and are not limited to a change of name and website, platform design, fee and referral system, algorithmic strategy, or software optimization. This could lead to incorrect data being displayed and/or delays and differences in the software execution. All these updates are made in the best long-term interest of FireBot and its users, and FireBot cannot be held responsible for any damage (including loss of capital) caused directly or indirectly by their implementation.
Agreement to Terms and Conditions
By accessing this platform and any materials presented herein, the user accepts in their entirety and without modification the following terms and conditions pertaining to the use of the platform. FireBot reserves the right to change the terms, conditions, and notices under which this platform is offered without notice at any time.
The user acknowledges and agrees that FireBot may restrict, suspend, or terminate the user’s access to, and use of, all or any part of the platform, at any time, with or without cause, including but not limited to any breach of the Terms and Conditions as determined in FireBot’s absolute discretion, and without prior notice or liability.
Each use of the platform constitutes the user’s agreement to be bound by the then-current terms and conditions set forth in these Terms and Conditions. If the user does not agree with the Terms and Conditions, he is not granted permission to access or otherwise use this platform.
Risks
Here is a non-exhaustive list of the potential risks, the user will be exposed to while using our solution. FireBot must not be held responsible for the loss of some or all his investment from any reason, being mentioned or not in the following list:
- Third-party risk: The user’s funds are on his Binance account, this means that they are exposed to the same risks as when using their website. They are exposed to a hacking or stealing risk (however Binance has an insurance fund that could cover this risk), to a systemic risk if the website happens to go offline for any reason and the funds are not recoverable, or operational risk if after a wrong operation, the assets are locked at an address with unknown or lost access.
- Market risk: The solution was developed to benefit from trends detected in the cryptocurrencies market, however, there is no guarantee that it will perform in the future, moreover, statistically, the user will encounter periods that can extend over several months where the solution will not make profits, and with the worst investing timing, he could lose part of his portfolio before it starts to perform as expected. The solution is based on known market conditions and volatility; it is possible that the future behavior of the cryptocurrencies market changes and that our software stops from being profitable.
- Operational risk: The user himself could place unprofitable trades on his account canceling all purpose of the solution. However, we follow strict testing methodology in our developments, a new feature with unforeseen effect or a bug could be included in an update of the algorithm resulting in an unwanted action on the user's portfolio.
- Hacking risk: The API keys that give access to the user’s Binance account are encrypted before being stored using proprietary asymmetric encryption, this means that hacking into our database would be ineffective in using the user’s keys. However, another way of gathering the user’s information that we are not aware of could exist. If these keys are not handled properly, a malicious third-party could gain access to the account and place unwanted trades. Do not use these keys for anything else and do not store any other copy anywhere.
- Systemic risk: Using our solution, the user will give Binance the instructions to place trades on his portfolio, as with any automatic system, there is a risk it does not act as expected.
- Market manipulation: Cryptocurrencies markets could be subject to manipulation. Our solution can in certain situations predict strong movements by analyzing the activity that would precede a market manipulation. However, depending on the type of manipulation, it could be undetected.
- Regulatory risk: Cryptocurrencies are designed to disrupt traditional financial systems and governments; this means many powerful actors could see them as a threat and potentially intend to have them banned or have platforms such as Binance closed. These regulatory events, however useless due to the fundamental censorship resistance of cryptocurrencies, could still have strong temporary impacts on market prices.
- Connectivity The website and software are available on computers and handheld mobile devices running iOS and Android. FireBot will use reasonable efforts to always make the website and software available. However, User acknowledges that the website and software are provided over the internet and mobile networks and thus the quality and availability of the website and software may be affected by factors outside FireBot’s reasonable control. FireBot does not accept any responsibility whatsoever for unavailability of the website and software, or any difficulty or inability to download or access content, or any other communication system failure which may result in the website or software being unavailable. FireBot is not responsible for any support or maintenance regarding the website or software. FireBot may – at its own discretion – update, modify, or adapt the website or software and their functionalities from time to time to enhance the user experience. FireBot is not responsible for any downtime resulting from these actions.
FireVaults
FBX FireVault
The FireVault’s main objective is to maintain the health of the ecosystem through controlled burning of FBX while letting FBX owners earn additional yield on their tokens.
The vault continuously burns FBX in order to mint (create) new EP tokens that are then staked to earn a part of the new FBX emission.
The vault tends to a 50/50 repartition between EPs and FBX by burning more or less of FBX, but this could vary depending on the EP valuation, users deposits and withdrawals.
FBX rewards are automatically added into the vault, compounding the interests. The costs and earnings are shared among the vault's users. They will see
their deposited amount regularly increase, tracking their share of the earnings of the vault.
Valuation Method
The valuation method for deposits and withdrawals uses the FBX reserves and the EPs owned. As an arbitrary measure, an EP is valued at 270 times
its daily rewards.
Fees
This vault doesn't charge any management, performance, deposit or withdrawal fees.
Risks
- In the event of a bank run when not enough FBX would be available in the vault, a user wanting to withdraw would have to wait for the existing EPs to generate new FBX or decide to sell its fireFBX tokens (receipt of the deposit) on the secondary market. There is a fireFBX/FBX SushiPool for this purpose.
- EP valuation could decrease due to a high minting rate of EPs.
- All the necessary precautions have been taken, the smart contracts have been audited, however a hack of the vault or the contract can never be excluded.
- When entering the vault the depositors receive fireFBX tokens in exchange. If they lose these tokens, they won't be able to withdraw their position.
- General risks must also be taken into consideration: hacks, counterparty, liquidity, private keys security, underlying assets, regulations, market risk, or others.
Other vaults
Similar risks apply to the other vaults. Other specific risks as well as the strategies will be detailed in the additional information of each vault.
Risks
Here is a non-exhaustive list of the potential risks, the user will be exposed to while using our solution. FireBot must not be held responsible for the loss of some or all his investment from any reason, being mentioned or not in the following list:
- Third-party risk: The user’s funds are on his Binance account, this means that they are exposed to the same risks as when using their website. They are exposed to a hacking or stealing risk (however Binance has an insurance fund that could cover this risk), to a systemic risk if the website happens to go offline for any reason and the funds are not recoverable, or operational risk if after a wrong operation, the assets are locked at an address with unknown or lost access.
- Market risk: The solution was developed to benefit from trends detected in the cryptocurrencies market, however, there is no guarantee that it will perform in the future, moreover, statistically, the user will encounter periods that can extend over several months where the solution will not make profits, and with the worst investing timing, he could lose part of his portfolio before it starts to perform as expected. The solution is based on known market conditions and volatility; it is possible that the future behavior of the cryptocurrencies market changes and that our software stops from being profitable.
- Operational risk: The user himself could place unprofitable trades on his account canceling all purpose of the solution. However, we follow strict testing methodology in our developments, a new feature with unforeseen effect or a bug could be included in an update of the algorithm resulting in an unwanted action on the user's portfolio.
- Hacking risk: The API keys that give access to the user’s Binance account are encrypted before being stored using proprietary asymmetric encryption, this means that hacking into our database would be ineffective in using the user’s keys. However, another way of gathering the user’s information that we are not aware of could exist. If these keys are not handled properly, a malicious third-party could gain access to the account and place unwanted trades. Do not use these keys for anything else and do not store any other copy anywhere.
- Systemic risk: Using our solution, the user will give Binance the instructions to place trades on his portfolio, as with any automatic system, there is a risk it does not act as expected.
- Market manipulation: Cryptocurrencies markets could be subject to manipulation. Our solution can in certain situations predict strong movements by analyzing the activity that would precede a market manipulation. However, depending on the type of manipulation, it could be undetected.
- Regulatory risk: Cryptocurrencies are designed to disrupt traditional financial systems and governments; this means many powerful actors could see them as a threat and potentially intend to have them banned or have platforms such as Binance closed. These regulatory events, however useless due to the fundamental censorship resistance of cryptocurrencies, could still have strong temporary impacts on market prices.
- Connectivity The website and software are available on computers and handheld mobile devices running iOS and Android. FireBot will use reasonable efforts to always make the website and software available. However, User acknowledges that the website and software are provided over the internet and mobile networks and thus the quality and availability of the website and software may be affected by factors outside FireBot’s reasonable control. FireBot does not accept any responsibility whatsoever for unavailability of the website and software, or any difficulty or inability to download or access content, or any other communication system failure which may result in the website or software being unavailable. FireBot is not responsible for any support or maintenance regarding the website or software. FireBot may – at its own discretion – update, modify, or adapt the website or software and their functionalities from time to time to enhance the user experience. FireBot is not responsible for any downtime resulting from these actions.
FireVaults
FBX FireVault
The FireVault’s main objective is to maintain the health of the ecosystem through controlled burning of FBX while letting FBX owners earn additional yield on their tokens.
The vault continuously burns FBX in order to mint (create) new EP tokens that are then staked to earn a part of the new FBX emission.
The vault tends to a 50/50 repartition between EPs and FBX by burning more or less of FBX, but this could vary depending on the EP valuation, users deposits and withdrawals.
FBX rewards are automatically added into the vault, compounding the interests. The costs and earnings are shared among the vault's users. They will see
their deposited amount regularly increase, tracking their share of the earnings of the vault.
Valuation Method
The valuation method for deposits and withdrawals uses the FBX reserves and the EPs owned. As an arbitrary measure, an EP is valued at 270 times
its daily rewards.
Fees
This vault doesn't charge any management, performance, deposit or withdrawal fees.
Risks
- In the event of a bank run when not enough FBX would be available in the vault, a user wanting to withdraw would have to wait for the existing EPs to generate new FBX or decide to sell its fireFBX tokens (receipt of the deposit) on the secondary market. There is a fireFBX/FBX SushiPool for this purpose.
- EP valuation could decrease due to a high minting rate of EPs.
- All the necessary precautions have been taken, the smart contracts have been audited, however a hack of the vault or the contract can never be excluded.
- When entering the vault the depositors receive fireFBX tokens in exchange. If they lose these tokens, they won't be able to withdraw their position.
- General risks must also be taken into consideration: hacks, counterparty, liquidity, private keys security, underlying assets, regulations, market risk, or others.
Other vaults
Similar risks apply to the other vaults. Other specific risks as well as the strategies will be detailed in the additional information of each vault.
Indemnification
Users will indemnify, defend, and hold FireBot harmless from and against all liabilities, damages, and costs (including settlement costs and reasonable attorneys’ fees) arising out of third-party claims regarding:
- 1. Any injury or damages resulting from behavior of user related to the use of our website and software; and
- 2. Breach by User of these Terms or violation of any applicable law, regulation, or order.
Cookies
We employ the use of cookies. By accessing FireBot, you agreed to use cookies in agreement with the FireBot's Privacy Policy.
Most interactive websites use cookies to let us retrieve the user’s details for each visit. Cookies are used by our website to enable the functionality of certain areas to make it easier for people visiting our website.
Privacy
FireBot respects your privacy and anticipates the EU General Data Protection Regulation (GDPR). When you make use of our Website and Software, we will collect certain personal data from you. In our Privacy Policy you can read which personal data we collect and for what purposes. You can find our privacy policy here: https://firebot.gg/privacy.
License
Unless otherwise stated, FireBot and/or its licensors own the intellectual property rights for all material on FireBot. All intellectual property rights are reserved. You may access this from FireBot for your own personal use subjected to restrictions set in these terms and conditions.
You must not:
- Republish material from FireBot.
- Sell, rent or sub-license material from FireBot.
- Reproduce, duplicate, or copy material from FireBot.
- Redistribute content from FireBot.
Reservation of Rights
We reserve the right to request that you remove all links or any link to our website. You approve to immediately remove all links to our website upon request. We also reserve the right to amend these terms and conditions and its linking policy at any time. By continuously linking to our website, you agree to be bound to and follow these linking terms and conditions.
Removal of links from our website
If you find any link on our website that is offensive for any reason, you are free to contact and inform us any moment. We will consider requests to remove links, but we are not obligated to or so or to respond to you directly.
We do not ensure that the information on this website is correct, we do not warrant its completeness or accuracy, the data displayed is for information only and does not; nor do we promise to ensure that the website remains available or that the material on the website is kept up to date.
Applicable law and jurisdiction
These Terms shall exclusively be governed by and construed in accordance with the laws of DIFC.
Unless mandatory law compels differently, all disputes resulting from or arising in connection with these Terms shall be exclusively submitted to the competent court of DIFC, in the United Arab Emirates unless the dispute can be settled in an amicable fashion.