Terms of use for the points program

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These terms of use for the Infrared Finance points program ("Points Program Terms") supplement and incorporate by reference the Infrared Development Inc. Terms of Service available at https://infrared.finance/terms ("Standard Terms"). In the event of any conflict between these Points Program Terms and the Standard Terms, these Points Program Terms shall prevail with respect to the Points Program only.

Within these Terms, words of any gender shall be held and construed to include any other gender, and words in the singular number shall be held and construed to include the plural unless the context otherwise requires.

By accessing or using Infrared's Services or any of the Product to earn points by virtue of the established Points Program, you agree to be bound by both these Points Program Terms and the Standard Terms.

Infrared appeals to the User to carefully review the disclosures and disclaimers in Section 6, 7, and 8 in their entirety before using any software developed by Infrared. These sections provide important details about the legal obligations and risks associated with the User's use of the Infrared open-source software and Points Program. By accessing or using Infrared's Services or any of the Product to earn points, the User agrees that Infrared does not provide execution or clearing services of any kind and is not responsible for executing or clearing transactions automated through the Infrared open-source software.

1. Key definitions

For the purpose of these Terms, the following capitalized terms shall have the following meanings:

"Affiliate" means, with respect to a party to these Terms, any legal entity that, directly or indirectly controls, is controlled by, or is under common control with Infrared.

"Applicable Law" means any domestic or foreign law, rule, statute, regulation, by-law, order, protocol, code, decree, or other directive, requirement or guideline, published or in force which applies to or is otherwise intended to govern or regulate any person, property, transaction, activity, event or other matter, including any rule, order, judgment, directive or other requirement or guideline issued by any Governmental Authority having jurisdiction over Infrared, the User, the Protocol or the Services, or as otherwise duly enacted, enforceable by law, the common law or equity.

"Berachain" refers to a high-performance EVM-identical Layer 1 blockchain utilizing Proof-of-Liquidity (PoL) and built atop of the modular EVM-focused consensus client framework BeaconKit.

"BGT" means the governance token used within Berachain Ecosystem

"iBGT" means the liquid staking token of the BGT that may be used for the following purposes: i) earn additional iBGT provided that liquidity to approved PoL pools is supplied; ii) stake iBGT to earn rewards; and iii) use iBGT in DeFi.

"BERA" means the native token of Berachain used within the Protocol.

"iBERA" means the liquid staking token of the BERA used within the Protocol.

"Proof-of-Liquidity" or "PoL" means the consensus mechanism in blockchain technology where participants validate transactions and create new blocks based on the amount of liquidity they provide to the network.

"Points Program" refers to the Infrared program developed as a way to reward users who actively participate in the protocol.

"Infrared Points" refers to accumulating points that track Users engagement with Infrared over time. i.e., the longer a User stakes and provides liquidity to vaults, the more points a User accumulates. User points determine their position on the leaderboard and the eligibility for future benefits.

"Multipliers" refers to incentive mechanisms that boost a User's rewards beyond the base rate based on specific behaviours or commitments.

"Protocol" means the Infrared website, smart contracts, and associated services that enable the liquid staking for BGT and BERA, offer yield-optimized vaults, and run network validators.

"Services" means the Products offered by Infrared to accumulate points as accessible through the Protocol.

"Product" means any product offered through the Services and available in or through the Protocol, including but not limited to Infrared PoL vaults.

2. Points program

The Points Program is aimed:

The Services offered by Infrared operate through smart contracts deployed on the blockchain and require no permission or authorization from Infrared to use.

3. Eligibility

Eligibility for the Points Program shall be governed by the Eligibility requirements in Section 2 of the Standard Terms. In addition, the following are conditions of access to the Services and any of the Product to enable Points accumulation:

The User represents and warrants to us that:

  1. The User has the full power and authority to agree to these Terms and to use the Services offered by Infrared to earn points emanating from the established Points Program;
  2. The User has read these Terms prior to using the Services and any of the Product, and that you are solely responsible for your trading or non-trading actions and have had the opportunity to take any legal, financial, accounting or other advice that you deem appropriate prior to accessing the Services or using any of the Product;
  3. The User will only utilise legally obtained digital assets that belong to the User, and that the User has full legal and beneficial title to any such assets at the time the User utilises them.

Access to the Services and any of the Product and the eligibility for the Points Program may be restricted based on your jurisdiction or geographical location in accordance with the Restricted Territory provisions in the Standard Terms.

4. Modifications to these terms

Modifications to these Points Program Terms shall be governed by the same process outlined in the opening paragraphs of the Standard Terms.

5. Services

Points Program Overview

The Points Program is a novel optimization to enable Users to earn points based on their on-chain

activity. The Protocol operates through smart contracts deployed on the blockchain and requires no authorization from Infrared for use. The User acknowledges that Infrared does not custody, control, or

have access to User funds at any time.

5.1. Products (Collectively, the "services")

The Protocol enables Users to earn points based on their on-chain activity, including the following:

a) Staking iBGT

b) Holding iBERA

c) Claiming iBGT rewards

d) Providing liquidity

e) Interacting with Partners of Infrared

5.2. Gas fees and transaction costs

Users are responsible for all blockchain transaction fees required to interact with the Protocol. Infrared has no control over and does not receive any portion of these network fees.

5.3. Protocol restrictions

Infrared reserves the right to restrict access to the Services or any of the Product in certain jurisdictions.

5.4. Conditions and restrictions

Infrared may, at any time and in its sole discretion, restrict access to the Services or any of the Product and subsequently to the Points earned from the Program or impose conditions upon its use, with or without prior notice. The Protocol smart contracts, being immutable and decentralized, will continue to function regardless of interface availability.

Infrared is not your broker, lawyer, intermediary, agent, or advisor and has no fiduciary relationship or obligation to you regarding any decisions or activities that you effect when using the Protocol. No communication or information provided by Infrared is intended as, or should be construed as, advice.

6. Risks

a) Smart Contract Risk

b) Financial Risk

6.1. Protocol constraints

Transaction Ordering All protocol operations execute in the order they are confirmed on the blockchain. Users acknowledge that transaction timing and network conditions may affect execution outcomes.

Technical Requirements Users must maintain sufficient blockchain network tokens to cover transaction fees and must interact with the Protocol through properly formatted transaction calls. Users acknowledge that incorrect transaction formatting may result in failure or unintended outcomes.

Furthermore, Users acknowledge that only the specific User on-chain activity stipulated above will classify as eligible for earning points through the established Points Program.

6.2. Smart contract security

The Protocol's smart contracts may contain vulnerabilities, bugs, or other issues despite security audits and testing. Users acknowledge that such issues could result in the loss of functionality, assets, or other value. Smart contracts are immutable once deployed, and Infrared cannot modify or update them.

6.3. Private key security

Users are solely responsible for securing the private keys associated with their blockchain addresses. Loss or compromise of private keys will permanently and irreversibly deny access to a User's assets and positions within the Protocol. Infrared cannot restore access to or recover any assets controlled by lost private keys.

6.4. Network security

The Protocol operates on Berachain that may be subject to various attacks, including but not limited to:

Users acknowledge that such events may affect transaction execution, asset prices, or Protocol functionality.

6.5. Oracle security

The Protocol may rely on external data sources such as respective partners and oracle systems for asset price information and Users' on-chain activity as well as, other critical data. These systems may experience technical failures, manipulation, or other issues that could affect Protocol operations. Users acknowledge that oracle malfunctions could result in incorrect asset or on-chain activity valuations or Protocol actions.

6.6. Interface security

While Infrared implements security measures in its user interface, Users acknowledge that:

6.7. Transaction security

Users acknowledge that blockchain transactions are:

6.8. Value volatility

Digital assets, including BGT, BERA and LP tokens, may experience significant price volatility. Users acknowledge that asset values can change rapidly and substantially, potentially resulting in partial or total loss of value. Past performance does not indicate future results.

6.9. Liquidity risks

Users acknowledge that digital asset markets may experience:

6.10. Technical risks

Digital assets are subject to technical risks including:

6.11. Regulatory risks

The regulatory status of digital assets is evolving and uncertain. Users acknowledge that regulatory changes may:

6.12. Market operation risks

Users acknowledge that digital asset markets may be subject to:

6.13. Systemic risks

The interconnected nature of digital asset protocols creates systemic risks:

Users acknowledge that the risks described in Section 7 are not exhaustive, and additional risks may exist or emerge. Users should carefully evaluate their financial situation and risk tolerance before using the Protocol.

7. Limitation of liability

The limitation of liability provisions in Sections 5.1 and 5.2 of the Standard Terms apply to the Points Program. In addition, the following Points Program-specific limitations apply:

8. Points program-specific limitations

To the maximum extent permitted by applicable law, in no event shall Infrared, its affiliates, or any of their respective officers, directors, agents, employees, or representatives (collectively, the "Indemnified Parties") be liable for any damages resulting from:

9. Governing law

Disputes arising from or related to the Points Program shall be governed by the jurisdiction and

arbitration provisions in Section 1 of the Standard Terms.

10. Electronic notices

The User consents to receive all communications, agreements, documents, receipts, notices, and

disclosures electronically (collectively, our "Communications") that Infrared provides in connection

with these Terms or any Services. The User agrees that Infrared may provide Communications to him

by posting them on the User Interface or by emailing them to the User at the email address provided

in connection with the User's use of the Services if any. The User should maintain copies of Infrared's

Communications by printing a paper copy or saving an electronic copy.

10. Contact us

Please send your feedback, comments, or requests for technical support to legal@infrared.finance