Homnifi Wiki
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          • How to do External Withdrawal sLYK
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    • ๐Ÿ”ฎDefi360
      • Welcome to NodeK
        • ๐Ÿค”Understanding NodeK
        • โœ…Activating NodeK
        • ๐Ÿ”—NodeK Hosting: From In-House to Delivery with Online Connection
        • ๐Ÿ—๏ธHow NodeK Works
        • ๐ŸงฎRewards and Calculation formula
        • ๐Ÿ†•smLYK Promotion Campaign
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        • ๐Ÿ’ฐWallet on CloudK
          • Understanding Wallet Dashboard
          • How to Deposit cLFI-D
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          • How to Withdraw
            • How to do External Withdrawal
            • How to Internal Transfer
            • How to Withdraw sLYK
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        • ๐Ÿ’ปUnderstanding CLOUDK
          • Understanding CloudK Dashboard
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          • Cloud Minting Rewards Calculation Formula
          • LAYERK Unlock
        • ๐Ÿ–ฅ๏ธHardware Minting
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      • ๐Ÿ› ๏ธDevice Maintenance and Replacement
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    • Wallek
      • ๐Ÿ’ฐWhat is Wallek?
      • ๐Ÿค”Discover Why WalleK is a Game-Changer
      • โš™๏ธHow Wallek works?
      • ๐Ÿ”ขWallek Allocation & PPPP Calculation
        • How allocation works
        • Pumps
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          • What is a milestone?
          • How to achieve power?
          • What are different types of milestones available?
        • Persistence
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      • ๐Ÿ—ƒ๏ธFeatures
        • Launchpad
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      • ๐Ÿ“”TUTORIAL WALLEK - WEB
        • Login to WalleK
        • Activate your Metamask
        • Add LYK and sLYK to Metamask
        • Where can I find LYK and sLYK?
          • How to purchase LayerK token
          • Steps to migrate LYK and sLYK from JourneyBridge
          • Steps to migrate ZENIQ to sLYK in Koinbay
        • Deposit on Metamask
        • Link to Metamask
        • Staking
        • What to do now
      • โ“FAQ
        • Get Started
          • What is Blockchain
          • What is Launchpad
          • What is Token Allocation
          • What is Token Staking
          • What is Decentralized Application
          • Why Decentralization System Outshine Traditional Models
          • LayerK Dominance
        • What is Wallek, and how does it work?
        • How do I participate in Wallek's launchpad token allocations?
        • What are the benefits of receiving token allocations through Wallek?
        • How can I diversify my portfolio using Wallek?
        • Why should I join Wallek as an early participant?
        • How do I link my MetaMask or Phantom wallet to Wallek?
        • What are "PUMPS" scores, and how do I gain them?
        • What is a milestone, and how does it impact my token allocation?
        • What is a probability score, and how can I increase my chances of receiving one?
    • Ramp Starter
      • ๐Ÿš€Get Started
        • What is Rampstarter
        • What is Launchpad
        • Discover Why Rampstarter is a Game-Changer
        • What is a Token Allocation
        • What is Decentralized Application
        • Why Decentralized Systems Outshine Traditional Models
        • Launchpad Case Studies
      • โš™๏ธHow Rampstarter Works
        • What is PPPP
        • How Allocation Works
        • Benefits Of Getting Allocation
      • ๐Ÿ” Basics Of Rampstarter
        • Login/ signup into Rampstarter
        • Connect Wallet
        • How to Register for a Project
        • How to Deposit Tokens for a Project
        • How Does Token Claiming Work
        • What is Vesting, Cliff and TGE
      • โ“FAQ
  • REPORT
    • Old Report
      • 3rd October 2024
      • 30 August 2024 (updated)
      • 12 December 2024
      • 15 December 2024
      • 20 December 2024
      • 30 December 2024
      • 19 February 2025
    • 4th March 2025
    • 10th March 2025
    • ROADMAP 2025 - HOMNIFI Updates
  • 19th March 2025
  • 19th March 2025 - Membership Update
  • 22nd March 2025
  • 21 April 2025 - Homnifi Platform Update
  • Homnifi - XPRO: Sync Fully Restored
  • May 2025 - Homnifi Platform Update
  • CloudK Migration Update โ€“ Transition Phase Begins
  • Legal Docs
    • Terms and Condition
    • Terms and Condition In-House Node
    • Privacy and Cookies
    • Risk Disclosure
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On this page
  • I. INTRODUCTION
  • II. GENERAL RISKS OF DIGITAL ASSETS
  • 1. Volatility and Price Fluctuations
  • 2. Market Risk
  • 3. Speculative Nature
  • 4. Liquidity Risks
  • III. TECHNOLOGY AND OPERATIONAL RISKS
  • 1. Technological Dependencies
  • 2. Cybersecurity Threats
  • 3. Software Vulnerabilities
  • 4. Software Compatibility
  • 5. Operational Risk
  • IV. REGULATORY AND LEGAL RISKS
  • 1. Regulatory Uncertainty
  • 2. Compliance with Laws
  • 3. Local Jurisdiction Risk
  • 4. Taxation
  • 5. Cross-Border Considerations
  • V. PRODUCT SPECIFIC RISKS
  • 1. Risks Associated with WalleK, Rampstarter, QuantWise, and Cloudk 2.0
  • 2. Staking and Liquidity Risks
  • 3. Due Diligence
  • VI. RISKS IN THE EXTERNAL APPS MARKETPLACE
  • VII. USER RESPONSIBILITIES
  • 1. Security Responsibilities
  • 2. Financial Responsibility
  • VIII. NO GUARANTEES OF RETURNS
  • 1. Market Uncertainty
  • 2. Limitation of Liability
  • IX. TAX DECLARATION AND DISCLAIMER
  • 1. Tax Obligations
  • 2. No Liability for Taxes
  • 3. Change in Tax Residency
  • 4. Professional Advice Recommendation
  • 5. Regulatory Changes
  • 6. Disclaimer
  • X. CONCLUSION
  1. Legal Docs

Risk Disclosure

Review the Homnifi Risk Disclosure to understand risks related to digital assets, security, regulations, and platform use, including LYK, sLYK, and mLYK. Engage responsibly.

PreviousPrivacy and Cookies

Last updated 3 months ago

I. INTRODUCTION

This is the Risk Disclosure Policy ("Policy") of Homnifi International LTD, a company incorporated in the British Virgin Islands ("Homnifi"). This Policy informs users of the potential risks involved in the use of the Homnifi Platform (the "Platform", available at ) and the engagement in transactions involving digital assets, including but not limited to LYK, sLYK, and mLYK (collectively, "Digital Assets"). This Policy provides important information about the nature, risks, and responsibilities associated with participating in the Platform.

It is important to carefully review this document to fully understand the limitations, liabilities, and uncertainties that may arise. By accessing and using the Platform, you acknowledge and agree that you have read, understood, and accepted all risks outlined herein and accept full responsibility for all related consequences.

It is critical that you fully understand and consider the following risks before using the Platform. This Policy does not, and cannot, disclose all risks or other significant aspects of using the Platform and the Digital Assets. You are urged to seek independent advice from a qualified professional before engaging in any transaction on the Platform.

Last Updated: October 2024


II. GENERAL RISKS OF DIGITAL ASSETS

1. Volatility and Price Fluctuations

Digital Assets, including but not limited to LYK, sLYK, and mLYK, are subject to extreme volatility. The value of Digital Assets may fluctuate rapidly and unpredictably, both upwards and downwards, due to factors such as market demand, regulatory developments, technological advancements, liquidity constraints, and general macroeconomic conditions. You should be prepared for the possibility of significant or total loss of your Digital Assets.

2. Market Risk

Market risk refers to the possibility that the overall market conditions could negatively impact the price of Digital Assets. Events such as market illiquidity, sudden withdrawal of buyers, or systemic failures could severely affect your ability to sell or transfer Digital Assets at favorable prices, or at all. There is no assurance that any Digital Asset will maintain or increase its value.

3. Speculative Nature

Digital Assets are speculative by nature. Holding or using these assets carries high risk and should not be considered as a traditional or guaranteed returns. The potential to lose all of your Digital Assets exists. Homnifi does not provide any warranties or guarantees with respect to the future performance or value of Digital Assets.

4. Liquidity Risks

Digital Assets may have limited liquidity, making it difficult to buy or sell them in the market. There may also be a risk of the Digital Assets delisted from third-party exchanges or trading platforms, making it difficult to trade or exchange such tokens.


III. TECHNOLOGY AND OPERATIONAL RISKS

1. Technological Dependencies

The Platform relies on blockchain technology, smart contracts, cryptographic protocols, and other technical infrastructures that may experience disruptions or malfunctions. System failures, such as network congestion, data corruption, or the malfunctioning of smart contracts, may result in delays, loss of funds, or failure to execute transactions.

2. Cybersecurity Threats

Despite employing advanced security protocols, the Platform is exposed to cybersecurity threats, including but not limited to hacking, phishing, malware, and Distributed Denial of Service (DDoS) attacks. Unauthorized third parties may gain access to users' accounts or Digital Assets, resulting in theft, loss, or corruption of funds or data. You are responsible for maintaining the security of your login credentials, private keys, and devices used to access the Platform.

3. Software Vulnerabilities

Homnifi and the Digital Assets on the Platform are reliant on various software systems, which may contain undiscovered vulnerabilities or bugs. Such vulnerabilities may be exploited to cause malfunction, resulting in unexpected consequences, including loss of assets. Homnifi cannot guarantee the reliability, functionality, or continued development of third-party software applications, and assumes no liability for losses resulting from such risks.

4. Software Compatibility

Users should ensure their devices, operating systems, and software are compatible with the Platform. Any failure to meet these technical requirements could result in service disruption or failure to access services. Use of outdated software or failure to keep software updated may expose users to security vulnerabilities and reduce functionality.

5. Operational Risk

Operational risks, including the risk of human error, mismanagement, or third-party service disruptions, could negatively affect the performance of the Platform. These risks include potential failures in the operational processes of trading, transfers, and custody of Digital Assets. Incorrect wallet addresses, transaction parameters, or other data inputs by users may lead to irreversible losses. Homnifi is not liable for any errors caused by users when interacting with the Platform.


IV. REGULATORY AND LEGAL RISKS

1. Regulatory Uncertainty

Digital Assets are subject to rapidly evolving regulatory environments. Laws, rules, and regulations governing the use, transfer, taxation, and classification of Digital Assets may change or be introduced without notice, potentially impacting the legality or viability of transactions conducted on the Platform. Regulatory measures in different jurisdictions could restrict your ability to access or utilize the Platform and may affect the value or security of your Digital Assets.

2. Compliance with Laws

Users of the Platform are responsible for ensuring that their activities comply with all applicable laws and regulations, including but not limited to anti-money laundering (AML), know-your-customer (KYC), and counter-terrorist financing (CTF) laws. Failure to comply may result in penalties, account suspension, termination, or legal action. Homnifi reserves the right to suspend or terminate accounts that do not meet regulatory requirements.

3. Local Jurisdiction Risk

Homnifi operates globally, but users are responsible for ensuring that their use of the Platform is legal in their jurisdiction. Accessing or using the Platform in violation of local laws or regulations may result in the suspension or termination of your account. Homnifi does not guarantee that the Platform is available in all jurisdictions or that it complies with all local laws.

4. Taxation

Digital Assets may be subject to tax reporting, capital gains, or other taxation requirements under your local or international laws. It is your responsibility to consult with tax professionals to ensure compliance with applicable tax laws. Homnifi does not provide tax advice and shall not be liable for any tax-related obligations incurred by users.

5. Cross-Border Considerations

Using the Platform may subject users to cross-border legal and regulatory challenges. Digital Asset transactions across jurisdictions may be restricted or subject to conflicting laws, which could impede your ability to complete or enforce transactions. You are responsible for understanding the legal implications of participating in cross-border Digital Asset transactions.


V. PRODUCT SPECIFIC RISKS

1. Risks Associated with WalleK, Rampstarter, QuantWise, and Cloudk 2.0

Homnifi offers various services and platforms such as WalleK, Rampstarter, QuantWise, and Cloudk 2.0, each of which carries inherent risks. Participating in or using these services may expose users to financial, technological, and project-specific risks. These risks include, but are not limited to, the total loss of tokens, project failure, liquidity issues, or other unforeseen circumstances.

2. Staking and Liquidity Risks

Staking, providing liquidity, or engaging in yield-generating activities through the Platform involves a risk of loss. These activities are speculative in nature, and there is no guarantee that you will receive the returns projected or anticipated. Liquidity provision, in particular, may result in "impermanent loss" or lower-than-expected yields.

3. Due Diligence

While Homnifi conducts due diligence on the projects listed or promoted on the Platform, users should also perform their own research and risk assessments. Homnifi disclaims all responsibility for any project failure or other negative outcomes associated with third-party platforms.


VI. RISKS IN THE EXTERNAL APPS MARKETPLACE

The External Apps Marketplace provides access to third-party applications that are independent of Homnifi. These third-party applications are not under the control of Homnifi, and their functionality, security, and legal compliance cannot be guaranteed by Homnifi. Use of third-party applications is entirely at your own risk, and Homnifi shall bear no responsibility for any loss arising from such usage.


VII. USER RESPONSIBILITIES

1. Security Responsibilities

Users are responsible for ensuring that their personal information, passwords, private keys, and security credentials are kept confidential and secure. You must implement appropriate security practices, such as using multi-factor authentication, regularly updating passwords, and protecting devices from malware.

2. Financial Responsibility

You are solely responsible for any financial decisions made in relation to Digital Assets, including, but not limited to, the decision to invest, trade, transfer, or stake Digital Assets. Homnifi does not provide financial advice, and all transactions on the Platform are executed at your own risk.


VIII. NO GUARANTEES OF RETURNS

1. Market Uncertainty

Homnifi makes no guarantees regarding the profitability of Digital Assets. The value of Digital Assets can fluctuate significantly, and there is no assurance that the value of your holdings will increase or be maintained. You are fully responsible for any losses incurred due to market fluctuations or adverse conditions.

2. Limitation of Liability

Homnifi assumes no liability for any losses, damages, or other adverse outcomes related to the use of the Platform or Digital Assets. The Platform and its services are provided "as is," and Homnifi disclaims all warranties, express or implied, including, but not limited to, warranties of fitness for a particular purpose and merchantability.


IX. TAX DECLARATION AND DISCLAIMER

1. Tax Obligations

By accessing and using the Platform, users acknowledge that any purchases, commissions, or compensation received may be subject to taxation according to the laws and regulations of their jurisdiction. Users are solely responsible for understanding and complying with applicable local tax obligations.

2. No Liability for Taxes

Homnifi does not assume any liability or responsibility for users' tax payments arising from rewards or benefits obtained through the products and services provided. Users are responsible for determining tax liabilities with a qualified tax professional or financial advisor and fulfilling any necessary tax reporting and payment obligations.

3. Change in Tax Residency

Users moving to a new jurisdiction should assess how this may affect their tax liabilities related to digital assets, as different regions may have varying rules regarding crypto taxation.

4. Professional Advice Recommendation

Homnifi strongly recommends seeking advice from a qualified tax professional or financial advisor to accurately ascertain tax liabilities. Tax regulations and obligations vary by region and country. Users must ensure fulfillment of all applicable requirements.

5. Regulatory Changes

Tax laws and regulations are subject to change. Users are responsible for staying informed about any changes that may affect their tax liability. Homnifi is not responsible for notifying users about alterations in tax laws.

6. Disclaimer

This tax declaration is for informational purposes only and does not constitute legal or financial advice. Users are advised to consult with a qualified tax professional or financial advisor in their jurisdiction for accurate and personalized guidance regarding tax obligations. Homnifi does not endorse any specific tax strategy or interpretation of tax laws. Decisions based on provided information are made at users' own risk.

By using the Platform, users acknowledge and agree to the above-stated terms regarding their tax obligations and responsibilities.


X. CONCLUSION

By using the Platform, you acknowledge that you have read, understood, and accepted this Risk Disclosure Policy in its entirety. You accept the inherent risks associated with Digital Assets and agree to use the Platform at your own risk.

For any questions or concerns regarding this Policy, please contact our support team through the Platformโ€™s support ticket system.

https://homnifi.com/
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