Skip to main content

TERMS OF USE FOR THE CRYPTOCURRENCY PROTOCOL CUSTOMERS

1 Definitions

1.1 The terms capitalized in these Terms of Use are defined terms. Terms that are used in the singular form shall also be understood to refer to plural forms, and vice versa. The following terms are used with the following meanings in these Terms of Use:

1.2 Actual Loss: the loss of assets which the Cover Purchaser had deposited or transferred to the Specified Protocol with the Covered Address and which are irrecoverable by the Cover Purchaser and shall exclude: (a) any compensation which such Specified Protocol, the Operator(s) relating to the Specified Protocol, or any other third-party elects to pay the Cover Purchaser in relation to such loss; (b) any digital asset which is subsequently recovered and returned to the Cover Purchaser; (c) any recovery made by the Cover Purchaser; and (d) any fees and gas related costs involved in operating the Designated Smart Contract.

1.3 Affiliates: (i) companies in which an entity has an interest in; (ii) companies which an entity is controlled by; or (iii) companies which an entity shares common control with, where “control” includes direct, indirect, or effective control; or (iv) the owners, directors, officers, employees, advisors, agents of an entity and companies.

1.4 Claim: a formal request for coverage or compensation for a Rug Pull Event.

1.5 Rug Pull Event: An event in which any identity has access to the protocols liquidity suddenly abandons the project and sells or removes all its liquidity.

1.6 Claimant: Cover Purchaser seeking to make a Claim.

1.7 Cover: coverage (to the extent of Specified Cover Amount) provided by Secured Haven io in the event of a Rug Pull Event in respect of such Specified Protocol based on and subject to the Terms of Use herein;

1.8 Cover Commencement Date/Time: the moment the Cover takes effect;

1.9 Cover Payment: the price for such Cover as quoted on the Protocol App/API (denominated in the relevant Supported Digital Tokens) based on the relevant Cover.

1.10 Cover Payout: the meaning ascribed to it in Clause 3.1(a).

1.11 Cover Period: the period commencing on the Cover Commencement Date/Time and ending on such expiry of the Specified Cover Period therefrom (for illustration, if the Cover Commencement Date/Time is 1 June 2021 at 00:00 hours on Coordinated Universal Time (UTC) and the Specified Cover Period is 10 days, the Cover Period shall expire on 10 June 2021 at 23:59 hours (UTC)).

1.12 Cover Purchase Address: the address from which such Cover was purchased.

1.13 Cover Purchaser: the individual who purchased the Cover.

1.14 Covered Address: the verified address which the Cover Purchaser has elected to be covered for against a Rug Pull Event affecting the Specified Protocol resulting in Actual Loss to the Cover Purchaser.

1.15 Designated Smart Contract: the Smart Contract most immediate to the Specified Protocol

1.16 Geographical Areas: countries, states, territories, or jurisdictions where Secured Haven B.V. io Platform, protocols and services can be accessed from, excluding those countries, states, territories or jurisdictions where the use of SECURED HAVEN.io’s Platform, protocols and services is considered illegal, prohibited or restricted, and any other country, state, territory or jurisdiction which SECURED HAVEN.io in their absolute discretion elects.

1.17 Operator: the Specified Protocol’s project team, developer(s), founder(s), or anyone with access to the Designated Smart Contract.

1.18 Platform: the Website, Protocol App/API and any other extensions or integrations operated by SECURED HAVEN.io.

1.19 Price Information Source(s): independent data providers, data aggregators, exchanges, trading platforms, and/or any other reliable entity able to provide all relevant asset information (e.g. Coingecko, Coinmarketcap, CEX’s, etc.).

1.20 Proof of Loss and Ownership: the meaning ascribed to it in Clause 5.2.

1.21 Protocol App/API: SECURED HAVEN.io’s application and/or its Application Programming Interface.

1.22 Smart Contract: a program or digital contract stored on the blockchain that is automatically executed when predetermined conditions are met with regards to the cryptocurrency infrastructure.

1.23 Specified Cover Amount: the amount denominated in Supported Digital Tokens which the Cover Purchaser has specified at purchase of Cover, representing the maximum amount (denominated in such Supported Digital Tokens) which a Cover Purchaser may claim against SECURED HAVEN.io in the event of a Rug Pull Event occurring on such Specified Protocol resulting in Actual Loss to the Cover Purchaser.

1.24 Specified Cover Period: the number of days as indicated by the Cover Purchaser on a completed Cover Purchase for coverage in relation to the Specified Protocol.

1.25 Specified Protocol: the cryptocurrency protocol which the Cover Purchaser has elected to be covered for against a Rug Pull Event affecting such protocol resulting in Actual Loss to the Cover Purchaser.

1.26 Supported Digital Tokens: digital assets (including digital tokens) supported by SECURED HAVEN.io from time to time.

1.27 Terms of Use: the present Terms of Use.

1.28 SECURED HAVEN.io

1.29 Website: www.Securedhaven.io

1.30 Force Majeure: non-attributable failure to perform as stated in Article 10.

1.31 Party (Parties): the Claimant and SECURED HAVEN.io are separately a Party; they are jointly referred to as the Parties.

2 General

2.1 By purchasing the Cover, you unequivocally accept and agree to be bound by these Terms of Use.

2.2 The Cover is provided by SECURED HAVEN.io. In the Terms of Use, “you” and “your” refers to you if you are a Cover Purchaser and/or Claimant (where applicable).

2.3 SECURED HAVEN.io may amend the Terms of Use from time to time without prior notice to you. Amendments shall take effect from the date the amended terms of use are published on the Website. If you continue with the Cover after such amendments, you are deemed to have agreed to the amended terms and to be bound by them. It is your responsibility to check for the latest version of the terms of use prior to purchasing the Cover or continuing with your use of the Cover.

2.4 To be eligible to make a Claim pursuant to the Cover, the Cover Purchaser must purchase the Cover using the Cover Purchaser Covered Address and selecting the Smart Contract for which the Cover Purchaser wishes to purchase the Cover. Once payment is approved by SECURED HAVEN.io, the Cover has taken effect.

3 Coverage

3.1 The Cover on Smart Contract(s) are always subject to the Terms of Use set out herein:

  1. Only in the event of a successful Claim, shall SECURED HAVEN.io only make payment of the lower of: (1) your Actual Loss suffered; or (2) the Specified Cover Amount less any Cover Payout(s) that have been paid to you (if any) under the Cover (each as defined herein, and collectively, the “Cover Payout”).
  2. The exchange rate between the Supported Digital Tokens used by the Cover Purchaser for Cover Payment and the relevant assets being the subject of the Cover Purchaser’s Actual Loss, based on data extracted from Price Information Source(s) deemed by SECURED HAVEN.io to be reliable, shall be used in the calculation of the Cover Purchaser’s Actual Loss and Specified Cover Amount for the purpose of the Cover Payout. The tokens used for Cover Payout (if any) shall be determined by SECURED HAVEN.io on a case-by-case basis.

3.2 By agreeing to the Terms of Use, you acknowledge that any Claim by you is subject to your retention of control over the Cover Purchase Address (including your private key to the Cover Purchase Address). In the event that such control is lost, you acknowledge and agree that SECURED HAVEN.io has no obligation to make any Cover Payout to you, whether by sending such Cover Payout to another designated blockchain address or otherwise, and you shall have no claim against SECURED HAVEN.io in relation to such Claim.

4 Claims Procedure

4.1 If a Cover Purchaser suffered Actual Loss, the procedure set out in Clauses 4.1(a) to 4.1(c) herein shall apply.

  1. The Claim must be submitted in respect of a Rug Pull Event that occurred within the Cover Period with a fee payment. The fee is variable and shall be determined on a case by case basis by SECURED HAVEN.io. The fee shall consist of a percentage of the amount claimed by the Claimant to SECURED HAVEN.io before the expiration of 14 days after the Cover Period has expired, failing which there shall be no Claim under the Cover.
  2. The Claimant shall submit Proof of Loss and Ownership within 14 days from the day of Claim submission, failing which the Claim shall automatically be deemed invalid and rejected.
  3. If the Claim is approved, payment shall be made to the successful Claimant and SECURED HAVEN.io shall not be responsible for any differences between the market value of the tokens used in making the Cover Payout at the time of such Cover Payout and the time the Claimant has received such Cover Payout.

5 Proof of loss and ownership

5.1 Claims are not deemed complete and eligible benefits are not payable unless all Proofs of Loss and Ownership have been submitted and agreed upon by SECURED HAVEN.io.

5.2 Proof of Loss and Ownership shall include, but is not limited to:

  1. A snapshot of the impacted Covered Address’ balances at block times directly before, during and after any losses have been applied ;
  2. any other evidence as deemed necessary by SECURED HAVEN.io.

(each as defined herein, and collectively, the “Proof of Loss and Ownership”).

5.3 The Claimant is required to provide SECURED HAVEN.io with truthful information, otherwise the Claim shall be deemed invalid and rejected.

6 Exclusions

6.1 The Cover shall not apply to any loss that is caused directly or indirectly, wholly or partly by, or if there is any incidence of the following:

  1. the asset(s) is not categorised as being part of the Specified Protocol;
  2. any asset subject to or in connection with the Claim is obtained through illegal means, is used for illegal purposes, is associated with any illegal, prohibited or restricted activity which is not compliant with applicable laws or regulations (including but not limited to sanctions imposed by the United Nations or any other regulatory body), including but not limited to activities associated with money laundering or terrorism financing;
  3. the Claimant’s assets are not verifiable on-chain during the Rug Pull Event;
  4. there is suspicion or evidence of fraud or any activities for the purpose of profiting from the Claim;
  5. a Claimant seeking to exploit SECURED HAVEN.io’s Platform or any Smart Contract for the purpose of making a Claim;
  6. where the Claim or information provided to SECURED HAVEN.io is false or misleading;
  7. any events or losses suffered in relation to a Claim is not attributable to a Rug Pull Event of the Designated Smart Contract, but is instead attributable to other factors, including but not limited to exploit, phishing, private key security breaches, malware, or exchange transaction hacks, or attributable to carelessness, misunderstanding, improper usage, omission or misuse by the Claimant, where the Designated Smart Contract continues to function as intended;
  8. the Rug Pull Event occurred outside of the Cover Period;
  9. any events or losses due to movements in the market price of asset value, regardless of whether such movements in market price of asset value is related to the Rug Pull Event or not;
  10. where the Rug Pull Event occurs during the Cover Period but the Rug Pull Event, or suspicion, potential or possibility for the Rug Pull Event, such as but not limited to the finding of a bug in the Designated Smart Contract or any associated Smart Contract (e.g. forked Smart Contract), becomes publicly disclosed prior to the Cover Commencement Date/Time (whether or not the Claimant is made aware of such public disclosure) or if the Rug Pull Event, or suspicion, potential or possibility for the Rug Pull Event is announced by SECURED HAVEN.io through SECURED HAVEN.io’s Website, social media platforms or other channels prior to the Cover Commencement Date/Time (whether or not the Claimant is made aware of such announcement);
  11. any events or losses where any other external interoperable or interactive Smart Contracts are hacked, exploited or compromised, or manipulated in an unintended way, while the Designated Smart Contract continues to operate as intended;
  12. any events or losses resulting from the Designated Smart Contract’s attachment to another compromised Smart Contract where the Designated Smart Contract continues to function as intended;
  13. any events or losses where the Designated Smart Contract continues to function as intended, but where incidence of hack, exploit or compromise arises from external inputs such as but not limited to third-party oracles, governance systems, tokenomics mechanism, flash-loan transactions, incentive structures, miner behaviour and network congestion, whether or not such external inputs have been integrated with the Designated Smart Contract;
  14. any events or losses where the relevant Designated Smart Contract continues to function as intended, but the loss was due to negligence, mistake, error or operational failure on the part of the Specified Protocol’s Operator(s) including but not limited to mistakenly uploading wrong parameters or settings to the Designated Smart Contract;
  15. any events or losses due to collateral damage from a Rug Pull Event;
  16. any associated fees or costs;
  17. any events or losses where the relevant Designated Smart Contract continues to function as intended, and the events or losses resulted from the indirect use of assets including but not limited to financial derivatives on the assets or the use of assets as collateral (e.g. of collateral used for perpetual contract trading);
  18. Where the Cover was purchased outside the Designated Geographical Areas as set out in the Website;
  19. any loss in excess of the Specified Cover Amount less Fees & Expenses (as defined herein);
  20. any administrative or transactional fees or expenses (including but not limited to gas fees or any other associated costs relating to the purchase of any Cover or incidental to any Claim) borne by SECURED HAVEN.io in relation to a Claim. In the event of any such costs or expenses incurred by SECURED HAVEN.io for any reason, you shall be liable to promptly refund SECURED HAVEN.io the amount in full at SECURED HAVEN.io’s request;
  21. any loss from wallet or address attack due to seed phrase(s), password(s) or other credentials having been obtained or stolen by hacking, theft, robbery, housebreaking, physical damage to wallet including but not limited to explosion, fire, water; and/or
  22. any costs or expenses which you are liable for to third-parties in connection with any Claim or your use of SECURED HAVEN.io’s Platform.

7 Termination

7.1 The Cover shall automatically terminate and you shall not be eligible to make any further Claim pursuant to such terminated Cover when:

  1. the cumulative Cover Payout(s) (if any) that have been made to you under the Cover in relation to the Specified Protocol adds up to, but shall not exceed, the Specified Cover Amount;
  2. the Cover has matured, terminated or lapsed;
  3. the Cover is cancelled; or
  4. there is insufficient capital to meet the Cover Purchasers’ coverage needs; or

whichever occurs earlier.

8 Indemnification

8.1 You will indemnify and at all times keep SECURED HAVEN.io and/or SECURED HAVEN.io’s Affiliates indemnified against any and all losses, damages, actions, proceedings, costs, expenses, claims, demands, liabilities (including full legal costs) which may be suffered or incurred by SECURED HAVEN.io or asserted against SECURED HAVEN.io by any person, party or entity whatsoever, in respect of (a) any matter or event whatsoever arising out of or in connection with your breach of any provision in the Terms of Use; (b) your use of the Cover; (c) SECURED HAVEN.io’s reliance on information, data or records provided by you; (d) your violation of any applicable law or the rights of any third party; and/or (e) the occurrence of any event due to your act, omission or default which compromises the security or integrity of the Platform.

9 Misrepresentation / Fraud

9.1 Notwithstanding anything in the Terms of Use to the contrary, SECURED HAVEN.io may void the Terms of Use and refuse all claims made in any of the following cases:

  1. if any Claim made shall be fraudulent or exaggerated; or
  2. if any false declaration or statement shall be made in support of any Claim.

10 Non-attributable shortcoming (Force Majeure)

10.1 Each Party shall be entitled to invoke Force Majeure if the performance of the Terms of Use, in whole or in part and whether temporarily or otherwise, is impeded or made difficult due to circumstances that are not attributable to its fault and will not be for its account pursuant to law, legal act or generally accepted practice. In each case, such circumstances include, but without limitation, international conflicts, violent and/or armed actions, measures taken by a domestic or foreign government or a supervisory authority, boycott actions, sanctions, pandemics, or any other circumstances that by their nature cannot be classed as attributable to each Party.

10.2 The Party wishing to invoke Force Majeure must immediately inform the other Party in writing of the commencement of the Force Majeure and the cause(s) thereof in writing immediately.

10.3 In the event of Force Majeure, the invoking Party’s obligations shall be suspended. Notwithstanding the provisions of this paragraph, the Cover Purchaser shall only be entitled to (partially) terminate its obligations after payment to SECURED HAVEN.io of all amounts owing to SECURED HAVEN.io at the time of the (partial) termination, irrespective of whether these are due and payable.

11 Applicable laws and disputes

11.1 You represent and warrant to SECURED HAVEN.io that:

  1. you have the legal authority to deal with any digital tokens including Supported Digital Tokens that may be used in connection with the Cover and that such digital tokens including Supported Digital Tokens are not subject to any interests, claims or liens of whatsoever nature;
  2. you acknowledge and agree that no regulatory authority has examined or approved of the Cover, no such action has been or will be taken under the laws, regulatory requirements or rules of any jurisdiction, and the provision of the Cover to you does not imply that the applicable laws, regulatory requirements or rules have been complied with;
  3. the provision of the Cover, any part thereof or any copy thereof, or acceptance of the same by you, is not prohibited or restricted by the applicable laws, regulations or rules in your jurisdiction, and where any restrictions in relation to possession are applicable, you have observed and complied with all such restrictions at your own expense and without liability to SECURED HAVEN.io;
  4. you will comply with all applicable laws and regulations with respect to your activities in connection with SECURED HAVEN.io, and will not use the Cover to engage in fraudulent, illegal or suspicious activities and/or transactions, including fraud, money laundering and financing terrorism;
  5. all of the above representations and warranties are true, complete, accurate and non-misleading from the time of your acceptance of the Terms of Use, and such representations and warranties are deemed repeated by you each time you use the Cover and the Platform.

11.2 You acknowledge and agree that to use the Platform in relation to the Cover, you may require a compatible device (including a mobile or computing device), appropriate third-party software (such as browsers), and also connectivity to the internet. You are solely responsible for obtaining such device(s), software, and the necessary connectivity services to access and use the Platform. SECURED HAVEN.io assumes no responsibility for such devices, software and services, or for any functionality of the Platform which is dependent on them to operate and:

  1. you acknowledge and agree to accept all risks associated with for such devices, software and services; and
  2. you acknowledge and agree that SECURED HAVEN.io is not responsible or liable for any error, delay or interruption in or lack of access to the Platform, or for any loss of Supported Digital Tokens or Cover Payout, occasioned by or attributable to such devices, software and services, and SECURED HAVEN.io assumes no responsibility or obligation to assist you to mitigate against any consequences arising out of or in connection with such devices, software and services.

11.3 You will provide all support, information and assistance necessary for SECURED HAVEN .io to conduct investigations, audits or inspections for the purpose of ensuring proper compliance with the Terms of Use or SECURED HAVEN.io’s legal or regulatory obligations, without any cost to SECURED HAVEN.io.

11.4 You acknowledge and agree that SECURED HAVEN.io has no obligation to you to contact the Operator(s) or any other relevant parties of the Specified Protocol in respect of any Rug Pull Event or compensation thereof.

11.5 You acknowledge and agree that in the event of any dispute or claim between SECURED HAVEN.io of whatever nature arising out of or in connection with any transaction conducted in relation to the Cover, the records of such transactions as recorded by SECURED HAVEN.io shall prevail. You shall fully reimburse SECURED HAVEN.io for all reasonable costs and expenses incurred to investigate and collate the relevant records and information in connection with such disputes or claims.

11.6 You acknowledge and agree that while SECURED HAVEN.io aims to adhere to legal principles of Dutch Law as part of its capital model, purchase of any coverage does not guarantee full Cover Payout of all losses on the protected assets, in particular, if there are insufficient staked assets in the capital pool.

11.7 You acknowledge and agree that SECURED HAVEN.io is not licensed or regulated by the Dutch Authority for the Financial Markets or any regulator in any jurisdiction.

11.8 You acknowledge and agree that that this Cover is not a contract of insurance. The Cover offers discretionary protection that is provided to Cover Purchasers. SECURED HAVEN.io has full discretion on whether or not a claim is approved for a successful payout.

12 Applicable laws and disputes

12.1 The Terms of Use shall be governed by the laws of the Netherlands.

12.2 Should any dispute between the Parties arise, the Parties shall make every effort to settle the dispute out of court. Disputes that cannot be settled out of court, shall be submitted to the competent court in Amsterdam, which shall have exclusive jurisdiction on the matter.

13 Final Provisions

13.1 These Terms of Use enter into force on 01 January 2023.

13.2 If SECURED HAVEN.io determines that by reason of any provision or exclusion under the Terms of Use that you are not eligible to make a Claim, or should you disagree with the quantum of loss or any other determination under the Terms of Use, the burden of proving to the contrary shall be on you.

13.3 You hereby represent that all information you provide to SECURED HAVEN.io in connection with the Cover is complete and accurate. If there is a change to such information, you must inform SECURED HAVEN.io immediately of the same, together with any other information that may affect SECURED HAVEN.io’s determination in respect of any Claim or any other decision in connection to whether SECURED HAVEN.io continues to cover you and the terms of such coverage provided by SECURED HAVEN.io . Such information may result in additional payment being payable by you and different terms may apply to you having regard to such information. If SECURED HAVEN.io determines that such information is not forthcoming or ought to have been disclosed to SECURED HAVEN.io , SECURED HAVEN.io reserves absolute discretion to restrict or remove any benefits under the Cover and SECURED HAVEN.io may cancel or void the Cover, for which you shall have no claim against SECURED HAVEN.io and its Affiliates in connection thereto.

13.4 If you are covered by any other third-party insurance for the same subject matter for which you are seeking a Claim, then your Claim with SECURED HAVEN.io shall be null and void.

13.5 In the event of a malfunction of the Platform’s programmed algorithm which result in an unusual or disproportionate amount to be paid to you or payable by you (as the case may be), SECURED HAVEN.io reserves all rights in its discretion to cancel such Cover and provide a refund to you (if an additional amount is payable by you for such modification) for which you shall have no claim against SECURED HAVEN.io or, as the case may be, require that you promptly return such amount which have been erroneously transferred to you.

13.6 Any illegality, invalidity, or unenforceability of any clause in the Terms of Use shall not affect the legality, validity or enforceability of any other provisions herein.

13.7 If SECURED HAVEN.io delays or fails to exercise any rights/remedies under the Terms of Use, it will not be deemed as a waiver. Any single/partial exercise of any right/remedy shall not prevent SECURED HAVEN.io from any other or further exercise of any other right/remedy. The rights and remedies provided in the Terms of Use are cumulative and not exclusive of any other rights/remedies.

13.8 The Terms of Use shall continue to be valid and binding for all purposes whatsoever despite any change by change of name, reconstruction or otherwise which may be made in SECURED HAVEN.io’s constitution.

13.9 The Terms of Use stated herein constitute the entire terms and conditions of the Cover and supersede any and all prior or contemporaneous written or oral agreements or representations. No prior inconsistent representation or statement made in relation to the Cover whether orally or in writing shall form part of the Terms of Use.

13.10 SECURED HAVEN.io reserves the right to:

  1. assign SECURED HAVEN.io’s rights and duties hereunder to any third party at any time without consent or notice to you. You shall not assign the Terms of Use or any rights or obligations herein without SECURED HAVEN.io’s prior written consent.
  2. alter the Terms of Use herein from time to time, without prior notice to you, and in such a way as SECURED HAVEN.io deems appropriate in the event of, but not limited to new market conditions, SECURED HAVEN.io’s developments and circumstances, any changes in the law or on the basis of taxation levy application to SECURED HAVEN.io or the Cover. The alterations to the Terms of Use shall take effect from the date the altered terms of use are published on the Website. If you continue with the Cover after such alterations, you are deemed to have agreed to the altered terms and to be bound by them. It is your responsibility to check for the latest version of the terms and conditions prior to purchasing the Cover or continuing with your use of the Cover.
  3. cancel the Cover if the minimum required capital to fund Cover Purchasers’ benefits is insufficient.
  4. at any time and for any reason, with or without prior notice, suspend or terminate your Cover without liability to you, if (a) you fail to comply with the Terms of Use herein; (b) you have used or are using the Cover and the Platform for any illegal or impermissible purpose or activity including any activity which may expose or potentially expose SECURED HAVEN.io to civil or criminal liability; (c) SECURED HAVEN.io deems fit to do so for security reasons or to protect SECURED HAVEN.io’s interests or the interests of other users of SECURED HAVEN.io; or (d) SECURED HAVEN.io is required to do so in compliance with any applicable law or regulation, or SECURED HAVEN.io is ordered to do so by any enforcement, regulatory or other governmental authority.
  5. at any time, notwithstanding anything in the Terms of Use to the contrary, temporarily, or permanently, in whole or in part, without prior notification and without incurring any liability to you, suspend, discontinue, or cancel the Cover. You are deemed to agree to such terms if you continue with the use of the Cover.

1 Definitions

1.1 The terms capitalized in these Terms of Use are defined terms. Terms that are used in the singular form shall also be understood to refer to plural forms, and vice versa. The following terms are used with the following meanings in these Terms of Use:

1.2 Actual Loss: the loss of assets which the Cover Purchaser had deposited or transferred to the Specified Protocol with the Covered Address and which are irrecoverable by the Cover Purchaser and shall exclude: (a) any compensation which such Specified Protocol, the Operator(s) relating to the Specified Protocol, or any other third-party elects to pay the Cover Purchaser in relation to such loss; (b) any digital asset which is subsequently recovered and returned to the Cover Purchaser; (c) any recovery made by the Cover Purchaser; and (d) any fees and gas related costs involved in operating the Designated Smart Contract.

1.3 Affiliates: (i) companies in which an entity has an interest in; (ii) companies which an entity is controlled by; or (iii) companies which an entity shares common control with, where “control” includes direct, indirect, or effective control; or (iv) the owners, directors, officers, employees, advisors, agents of an entity and companies.

1.4 Claim: a formal request for coverage or compensation for a Rug Pull Event.

1.5 Rug Pull Event: An event in which any identity has access to the protocols liquidity suddenly abandons the project and sells or removes all its liquidity.

1.6 Claimant: Cover Purchaser seeking to make a Claim.

1.7 Cover: coverage (to the extent of Specified Cover Amount) provided by Secured Haven B.V. io in the event of a Rug Pull Event in respect of such Specified Protocol based on and subject to the Terms of Use herein;

1.8 Cover Commencement Date/Time: the moment the Cover takes effect;

1.9 Cover Payment: the price for such Cover as quoted on the Protocol App/API (denominated in the relevant Supported Digital Tokens) based on the relevant Cover.

1.10 Cover Payout: the meaning ascribed to it in Clause 3.1(a).

1.11 Cover Period: the period commencing on the Cover Commencement Date/Time and ending on such expiry of the Specified Cover Period therefrom (for illustration, if the Cover Commencement Date/Time is 1 June 2021 at 00:00 hours on Coordinated Universal Time (UTC) and the Specified Cover Period is 10 days, the Cover Period shall expire on 10 June 2021 at 23:59 hours (UTC)).

1.12 Cover Purchase Address: the address from which such Cover was purchased.

1.13 Cover Purchaser: the individual who purchased the Cover.

1.14 Covered Address: the verified address which the Cover Purchaser has elected to be covered for against a Rug Pull Event affecting the Specified Protocol resulting in Actual Loss to the Cover Purchaser.

1.15 Designated Smart Contract: the Smart Contract most immediate to the Specified Protocol

1.16 Geographical Areas: countries, states, territories, or jurisdictions where Secured Haven B.V. io Platform, protocols and services can be accessed from, excluding those countries, states, territories or jurisdictions where the use of SECURED HAVEN B.V. io’s Platform, protocols and services is considered illegal, prohibited or restricted, and any other country, state, territory or jurisdiction which SECURED HAVEN B.V. ioin their absolute discretion elects.

1.17 Operator: the Specified Protocol’s project team, developer(s), founder(s), or anyone with access to the Designated Smart Contract.

1.18 Platform: the Website, Protocol App/API and any other extensions or integrations operated by SECURED HAVEN B.V.io.

1.19 Price Information Source(s): independent data providers, data aggregators, exchanges, trading platforms, and/or any other reliable entity able to provide all relevant asset information (e.g. Coingecko, Coinmarketcap, CEX’s, etc.).

1.20 Proof of Loss and Ownership: the meaning ascribed to it in Clause 5.2.

1.21 Protocol App/API: SECURED HAVEN B.V. io’s application and/or its Application Programming Interface.

1.22 Smart Contract: a program or digital contract stored on the blockchain that is automatically executed when predetermined conditions are met with regards to the cryptocurrency infrastructure.

1.23 Specified Cover Amount: the amount denominated in Supported Digital Tokens which the Cover Purchaser has specified at purchase of Cover, representing the maximum amount (denominated in such Supported Digital Tokens) which a Cover Purchaser may claim against SECURED HAVEN B.V. io in the event of a Rug Pull Event occurring on such Specified Protocol resulting in Actual Loss to the Cover Purchaser.

1.24 Specified Cover Period: the number of days as indicated by the Cover Purchaser on a completed Cover Purchase for coverage in relation to the Specified Protocol.

1.25 Specified Protocol: the cryptocurrency protocol which the Cover Purchaser has elected to be covered for against a Rug Pull Event affecting such protocol resulting in Actual Loss to the Cover Purchaser.

1.26 Supported Digital Tokens: digital assets (including digital tokens) supported by SECURED HAVEN B.V. IO from time to time.

1.27 Terms of Use: the present Terms of Use.

1.28 SECURED HAVEN B.V. io

1.29 Website: www.Securedhaven.io

1.30 Force Majeure: non-attributable failure to perform as stated in Article 10.

1.31 Party (Parties): the Claimant and SECURED HAVEN B.V. io are separately a Party; they are jointly referred to as the Parties.

2 General

2.1 By purchasing the Cover, you unequivocally accept and agree to be bound by these Terms of Use.

2.2 The Cover is provided by SECURED HAVEN B.V. io. In the Terms of Use, “you” and “your” refers to you if you are a Cover Purchaser and/or Claimant (where applicable).

2.3 SECURED HAVEN B.V.io may amend the Terms of Use from time to time without prior notice to you. Amendments shall take effect from the date the amended terms of use are published on the Website. If you continue with the Cover after such amendments, you are deemed to have agreed to the amended terms and to be bound by them. It is your responsibility to check for the latest version of the terms of use prior to purchasing the Cover or continuing with your use of the Cover.

2.4 To be eligible to make a Claim pursuant to the Cover, the Cover Purchaser must purchase the Cover using the Cover Purchaser Covered Address and selecting the Smart Contract for which the Cover Purchaser wishes to purchase the Cover. Once payment is approved by SECURED HAVEN B.V. io, the Cover has taken effect.

3 Coverage

3.1 The Cover on Smart Contract(s) are always subject to the Terms of Use set out herein:

a. Only in the event of a successful Claim, shall SECURED HAVEN B.V. io only make payment of the lower of: (1) your Actual Loss suffered; or (2) the Specified Cover Amount less any Cover Payout(s) that have been paid to you (if any) under the Cover (each as defined herein, and collectively, the “Cover Payout”).

b. The exchange rate between the Supported Digital Tokens used by the Cover Purchaser for Cover Payment and the relevant assets being the subject of the Cover Purchaser’s Actual Loss, based on data extracted from Price Information Source(s) deemed by SECURED HAVEN B.V. io to be reliable, shall be used in the calculation of the Cover Purchaser’s Actual Loss and Specified Cover Amount for the purpose of the Cover Payout. The tokens used for Cover Payout (if any) shall be determined by SECURED HAVEN B.V.io on a case-by-case basis.

3.2 By agreeing to the Terms of Use, you acknowledge that any Claim by you is subject to your retention of control over the Cover Purchase Address (including your private key to the Cover Purchase Address). In the event that such control is lost, you acknowledge and agree that SECURED HAVEN B.V. IO has no obligation to make any Cover Payout to you, whether by sending such Cover Payout to another designated blockchain address or otherwise, and you shall have no claim against SECURED HAVEN B.V. io in relation to such Claim.

4 Claims Procedure

4.1 If a Cover Purchaser suffered Actual Loss, the procedure set out in Clauses 4.1(a) to 4.1(c) herein shall apply.

a. The Claim must be submitted in respect of a Rug Pull Event that occurred within the Cover Period with a fee payment. The fee is variable and shall be determined on a case by case basis by SECURED HAVEN B.V. io. The fee shall consist of a percentage of the amount claimed by the Claimant to SECURED HAVEN B.V. io before the expiration of 14 days after the Cover Period has expired, failing which there shall be no Claim under the Cover.

b. The Claimant shall submit Proof of Loss and Ownership within 14 days from the day of Claim submission, failing which the Claim shall automatically be deemed invalid and rejected.

c. If the Claim is approved, payment shall be made to the successful Claimant and SECURED HAVEN B.V. io shall not be responsible for any differences between the market value of the tokens used in making the Cover Payout at the time of such Cover Payout and the time the Claimant has received such Cover Payout.

5 Proof of loss and ownership

5.1 Claims are not deemed complete and eligible benefits are not payable unless all Proofs of Loss and Ownership have been submitted and agreed upon by SECURED HAVEN B.V. io.

5.2 Proof of Loss and Ownership shall include, but is not limited to:

a. A snapshot of the impacted Covered Address’ balances at block times directly before, during and after any losses have been applied ;

b. any other evidence as deemed necessary by SECURED HAVEN B.V. io.

(each as defined herein, and collectively, the “Proof of Loss and Ownership”).

5.3 The Claimant is required to provide SECURED HAVEN B.V. io with truthful information, otherwise the Claim shall be deemed invalid and rejected.

6 Exclusions

6.1 The Cover shall not apply to any loss that is caused directly or indirectly, wholly or partly by, or if there is any incidence of the following:

a. the asset(s) is not categorised as being part of the Specified Protocol;

b. any asset subject to or in connection with the Claim is obtained through illegal means, is used for illegal purposes, is associated with any illegal, prohibited or restricted activity which is not compliant with applicable laws or regulations (including but not limited to sanctions imposed by the United Nations or any other regulatory body), including but not limited to activities associated with money laundering or terrorism financing;

c. the Claimant’s assets are not verifiable on-chain during the Rug Pull Event;

d. there is suspicion or evidence of fraud or any activities for the purpose of profiting from the Claim;

e. a Claimant seeking to exploit SECURED HAVEN B.V. io’s Platform or any Smart Contract for the purpose of making a Claim;

f. where the Claim or information provided to SECURED HAVEN B.V. io is false or misleading;

g. any events or losses suffered in relation to a Claim is not attributable to a Rug Pull Event of the Designated Smart Contract, but is instead attributable to other factors, including but not limited to exploit, phishing, private key security breaches, malware, or exchange transaction hacks, or attributable to carelessness, misunderstanding, improper usage, omission or misuse by the Claimant, where the Designated Smart Contract continues to function as intended;

h. the Rug Pull Event occurred outside of the Cover Period;

i. any events or losses due to movements in the market price of asset value, regardless of whether such movements in market price of asset value is related to the Rug Pull Event or not;

j. where the Rug Pull Event occurs during the Cover Period but the Rug Pull Event, or suspicion, potential or possibility for the Rug Pull Event, such as but not limited to the finding of a bug in the Designated Smart Contract or any associated Smart Contract (e.g. forked Smart Contract), becomes publicly disclosed prior to the Cover Commencement Date/Time (whether or not the Claimant is made aware of such public disclosure) or if the Rug Pull Event, or suspicion, potential or possibility for the Rug Pull Event is announced by SECURED HAVEN B.V. io through SECURED HAVEN B.V. io’s Website, social media platforms or other channels prior to the Cover Commencement Date/Time (whether or not the Claimant is made aware of such announcement);

k. any events or losses where any other external interoperable or interactive Smart Contracts are hacked, exploited or compromised, or manipulated in an unintended way, while the Designated Smart Contract continues to operate as intended;

l. any events or losses resulting from the Designated Smart Contract’s attachment to another compromised Smart Contract where the Designated Smart Contract continues to function as intended;

m. any events or losses where the Designated Smart Contract continues to function as intended, but where incidence of hack, exploit or compromise arises from external inputs such as but not limited to third-party oracles, governance systems, tokenomics mechanism, flash-loan transactions, incentive structures, miner behaviour and network congestion, whether or not such external inputs have been integrated with the Designated Smart Contract;

n. any events or losses where the relevant Designated Smart Contract continues to function as intended, but the loss was due to negligence, mistake, error or operational failure on the part of the Specified Protocol’s Operator(s) including but not limited to mistakenly uploading wrong parameters or settings to the Designated Smart Contract;

o. any events or losses due to collateral damage from a Rug Pull Event;

p. any associated fees or costs;

q. any events or losses where the relevant Designated Smart Contract continues to function as intended, and the events or losses resulted from the indirect use of assets including but not limited to financial derivatives on the assets or the use of assets as collateral (e.g. of collateral used for perpetual contract trading);

r. Where the Cover was purchased outside the Designated Geographical Areas as set out in the Website;

s. any loss in excess of the Specified Cover Amount less Fees & Expenses (as defined herein);

t. any administrative or transactional fees or expenses (including but not limited to gas fees or any other associated costs relating to the purchase of any Cover or incidental to any Claim) borne by SECURED HAVEN B.V. io in relation to a Claim. In the event of any such costs or expenses incurred by SECURED HAVEN B.V. io for any reason, you shall be liable to promptly refund SECURED HAVEN B.V. io the amount in full at SECURED HAVEN B.V. io’s request;

u. any loss from wallet or address attack due to seed phrase(s), password(s) or other credentials having been obtained or stolen by hacking, theft, robbery, housebreaking, physical damage to wallet including but not limited to explosion, fire, water; and/or

v. any costs or expenses which you are liable for to third-parties in connection with any Claim or your use of SECURED HAVEN B.V. io’s Platform.

7 Termination

7.1 The Cover shall automatically terminate and you shall not be eligible to make any further Claim pursuant to such terminated Cover when:

a. the cumulative Cover Payout(s) (if any) that have been made to you under the Cover in relation to the Specified Protocol adds up to, but shall not exceed, the Specified Cover Amount;

b. the Cover has matured, terminated or lapsed;

c. the Cover is cancelled; or

d. there is insufficient capital to meet the Cover Purchasers’ coverage needs; or

whichever occurs earlier.

8 Indemnification

8.1 You will indemnify and at all times keep SECURED HAVEN B.V. io and/or SECURED HAVEN B.V. IO’s Affiliates indemnified against any and all losses, damages, actions, proceedings, costs, expenses, claims, demands, liabilities (including full legal costs) which may be suffered or incurred by SECURED HAVEN B.V. io or asserted against SECURED HAVEN B.V. io by any person, party or entity whatsoever, in respect of (a) any matter or event whatsoever arising out of or in connection with your breach of any provision in the Terms of Use; (b) your use of the Cover; (c) SECURED HAVEN B.V. io’s reliance on information, data or records provided by you; (d) your violation of any applicable law or the rights of any third party; and/or (e) the occurrence of any event due to your act, omission or default which compromises the security or integrity of the Platform.

9 Misrepresentation / Fraud

9.1 Notwithstanding anything in the Terms of Use to the contrary, SECURED HAVEN B.V. io may void the Terms of Use and refuse all claims made in any of the following cases:

a. if any Claim made shall be fraudulent or exaggerated; or

b. if any false declaration or statement shall be made in support of any Claim.

10 Non-attributable shortcoming (Force Majeure)

10.1 Each Party shall be entitled to invoke Force Majeure if the performance of the Terms of Use, in whole or in part and whether temporarily or otherwise, is impeded or made difficult due to circumstances that are not attributable to its fault and will not be for its account pursuant to law, legal act or generally accepted practice. In each case, such circumstances include, but without limitation, international conflicts, violent and/or armed actions, measures taken by a domestic or foreign government or a supervisory authority, boycott actions, sanctions, pandemics, or any other circumstances that by their nature cannot be classed as attributable to each Party.

10.2 The Party wishing to invoke Force Majeure must immediately inform the other Party in writing of the commencement of the Force Majeure and the cause(s) thereof in writing immediately.

10.3 In the event of Force Majeure, the invoking Party’s obligations shall be suspended. Notwithstanding the provisions of this paragraph, the Cover Purchaser shall only be entitled to (partially) terminate its obligations after payment to SECURED HAVEN B.V. io of all amounts owing to SECURED HAVEN B.V. io at the time of the (partial) termination, irrespective of whether these are due and payable.

11 Applicable laws and disputes

11.1 You represent and warrant to SECURED HAVEN B.V. io that:

a. you have the legal authority to deal with any digital tokens including Supported Digital Tokens that may be used in connection with the Cover and that such digital tokens including Supported Digital Tokens are not subject to any interests, claims or liens of whatsoever nature;

b. you acknowledge and agree that no regulatory authority has examined or approved of the Cover, no such action has been or will be taken under the laws, regulatory requirements or rules of any jurisdiction, and the provision of the Cover to you does not imply that the applicable laws, regulatory requirements or rules have been complied with;

c. the provision of the Cover, any part thereof or any copy thereof, or acceptance of the same by you, is not prohibited or restricted by the applicable laws, regulations or rules in your jurisdiction, and where any restrictions in relation to possession are applicable, you have observed and complied with all such restrictions at your own expense and without liability to SECURED HAVEN B.V. io;

d. you will comply with all applicable laws and regulations with respect to your activities in connection with SECURED HAVEN B.V. io, and will not use the Cover to engage in fraudulent, illegal or suspicious activities and/or transactions, including fraud, money laundering and financing terrorism;

e. all of the above representations and warranties are true, complete, accurate and non-misleading from the time of your acceptance of the Terms of Use, and such representations and warranties are deemed repeated by you each time you use the Cover and the Platform.

11.2 You acknowledge and agree that to use the Platform in relation to the Cover, you may require a compatible device (including a mobile or computing device), appropriate third-party software (such as browsers), and also connectivity to the internet. You are solely responsible for obtaining such device(s), software, and the necessary connectivity services to access and use the Platform. SECURED HAVEN B.V.io assumes no responsibility for such devices, software and services, or for any functionality of the Platform which is dependent on them to operate and:

a. you acknowledge and agree to accept all risks associated with for such devices, software and services; and

b. you acknowledge and agree that SECURED HAVEN B.V. io is not responsible or liable for any error, delay or interruption in or lack of access to the Platform, or for any loss of Supported Digital Tokens or Cover Payout, occasioned by or attributable to such devices, software and services, and SECURED HAVEN B.V. io assumes no responsibility or obligation to assist you to mitigate against any consequences arising out of or in connection with such devices, software and services.

11.3 You will provide all support, information and assistance necessary for SECURED HAVEN B.V. io to conduct investigations, audits or inspections for the purpose of ensuring proper compliance with the Terms of Use or SECURED HAVEN B.V. io’s legal or regulatory obligations, without any cost to SECURED HAVEN B.V.io.

11.4 You acknowledge and agree that SECURED HAVEN B.V.io has no obligation to you to contact the Operator(s) or any other relevant parties of the Specified Protocol in respect of any Rug Pull Event or compensation thereof.

11.5 You acknowledge and agree that in the event of any dispute or claim between SECURED HAVEN B.V.io of whatever nature arising out of or in connection with any transaction conducted in relation to the Cover, the records of such transactions as recorded by SECURED HAVEN B.V. IO shall prevail. You shall fully reimburse SECURED HAVEN B.V. io for all reasonable costs and expenses incurred to investigate and collate the relevant records and information in connection with such disputes or claims.

11.6 You acknowledge and agree that while SECURED HAVEN B.V.io aims to adhere to legal principles of Dutch Law as part of its capital model, purchase of any coverage does not guarantee full Cover Payout of all losses on the protected assets, in particular, if there are insufficient staked assets in the capital pool.

11.7 You acknowledge and agree that SECURED HAVEN B.V.io is not licensed or regulated by the Dutch Authority for the Financial Markets or any regulator in any jurisdiction.

11.8 You acknowledge and agree that that this Cover is not a contract of insurance. The Cover offers discretionary protection that is provided to Cover Purchasers. SECURED HAVEN B.V. io has full discretion on whether or not a claim is approved for a successful payout.

12 Applicable laws and disputes

12.1 The Terms of Use shall be governed by the laws of the Netherlands.

12.2 Should any dispute between the Parties arise, the Parties shall make every effort to settle the dispute out of court. Disputes that cannot be settled out of court, shall be submitted to the competent court in Amsterdam, which shall have exclusive jurisdiction on the matter.

13 Final Provisions

13.1 These Terms of Use enter into force on 21 September 2022.

13.2 If SECURED HAVEN B.V. io determines that by reason of any provision or exclusion under the Terms of Use that you are not eligible to make a Claim, or should you disagree with the quantum of loss or any other determination under the Terms of Use, the burden of proving to the contrary shall be on you.

13.3 You hereby represent that all information you provide to SECURED HAVEN B.V. IO in connection with the Cover is complete and accurate. If there is a change to such information, you must inform SECURED HAVEN B.V. IO immediately of the same, together with any other information that may affect SECURED HAVEN B.V. IO’s determination in respect of any Claim or any other decision in connection to whether SECURED HAVEN B.V. IO continues to cover you and the terms of such coverage provided by SECURED HAVEN B.V. IO. Such information may result in additional payment being payable by you and different terms may apply to you having regard to such information. If SECURED HAVEN B.V. IO determines that such information is not forthcoming or ought to have been disclosed to SECURED HAVEN B.V. IO, SECURED HAVEN B.V. IO reserves absolute discretion to restrict or remove any benefits under the Cover and SECURED HAVEN B.V. IO may cancel or void the Cover, for which you shall have no claim against SECURED HAVEN B.V. IO and its Affiliates in connection thereto.

13.4 If you are covered by any other third-party insurance for the same subject matter for which you are seeking a Claim, then your Claim with SECURED HAVEN B.V. io shall be null and void.

13.5 In the event of a malfunction of the Platform’s programmed algorithm which result in an unusual or disproportionate amount to be paid to you or payable by you (as the case may be), SECURED HAVEN B.V.io reserves all rights in its discretion to cancel such Cover and provide a refund to you (if an additional amount is payable by you for such modification) for which you shall have no claim against SECURED HAVEN B.V.io or, as the case may be, require that you promptly return such amount which have been erroneously transferred to you.

13.6 Any illegality, invalidity, or unenforceability of any clause in the Terms of Use shall not affect the legality, validity or enforceability of any other provisions herein.

13.7 If SECURED HAVEN B.V. IO delays or fails to exercise any rights/remedies under the Terms of Use, it will not be deemed as a waiver. Any single/partial exercise of any right/remedy shall not prevent SECURED HAVEN B.V. IO from any other or further exercise of any other right/remedy. The rights and remedies provided in the Terms of Use are cumulative and not exclusive of any other rights/remedies.

13.8 The Terms of Use shall continue to be valid and binding for all purposes whatsoever despite any change by change of name, reconstruction or otherwise which may be made in SECURED HAVEN B.V. IO’s constitution.

13.9 The Terms of Use stated herein constitute the entire terms and conditions of the Cover and supersede any and all prior or contemporaneous written or oral agreements or representations. No prior inconsistent representation or statement made in relation to the Cover whether orally or in writing shall form part of the Terms of Use.

13.10 SECURED HAVEN B.V. IO reserves the right to:

a. assign SECURED HAVEN B.V. IO’s rights and duties hereunder to any third party at any time without consent or notice to you. You shall not assign the Terms of Use or any rights or obligations herein without SECURED HAVEN B.V. io’s prior written consent.

b. alter the Terms of Use herein from time to time, without prior notice to you, and in such a way as SECURED HAVEN B.V. io deems appropriate in the event of, but not limited to new market conditions, SECURED HAVEN B.V.io’s developments and circumstances, any changes in the law or on the basis of taxation levy application to SECURED HAVEN B.V.io or the Cover. The alterations to the Terms of Use shall take effect from the date the altered terms of use are published on the Website. If you continue with the Cover after such alterations, you are deemed to have agreed to the altered terms and to be bound by them. It is your responsibility to check for the latest version of the terms and conditions prior to purchasing the Cover or continuing with your use of the Cover.

c. cancel the Cover if the minimum required capital to fund Cover Purchasers’ benefits is insufficient.

d. at any time and for any reason, with or without prior notice, suspend or terminate your Cover without liability to you, if (a) you fail to comply with the Terms of Use herein; (b) you have used or are using the Cover and the Platform for any illegal or impermissible purpose or activity including any activity which may expose or potentially expose SECURED HAVEN B.V.io to civil or criminal liability; (c) SECURED HAVEN B.V.io deems fit to do so for security reasons or to protect SECURED HAVEN B.V.io’s interests or the interests of other users of SECURED HAVEN B.V.io; or (d) SECURED HAVEN B.V.io is required to do so in compliance with any applicable law or regulation, or SECURED HAVEN B.V.io is ordered to do so by any enforcement, regulatory or other governmental authority.

e. at any time, notwithstanding anything in the Terms of Use to the contrary, temporarily, or permanently, in whole or in part, without prior notification and without incurring any liability to you, suspend, discontinue, or cancel the Cover. You are deemed to agree to such terms if you continue with the use of the Cover.