Terms and Conditions
These Terms and Conditions ("Terms") govern your access to and use of the radFi Platform, including any services, features, or content provided through radFi (collectively, the "Services"). By accessing or using the Services, you agree to be bound by these Terms. If you do not agree to these Terms, you may not use the Services.
1. Acceptance of Terms
radFi is an automated market maker facilitated by Lydia Labs SRL ("we," "us," or "our"). These Terms constitute a legally binding agreement between you ("User," "you," or "your") and us. We reserve the right to update or modify these Terms at any time, with notice provided via the Platform or other reasonable means. Your continued use of the Services after such changes constitutes acceptance of the updated Terms.
2. Nature of the Platform
radFi is an Automated Market Maker (AMM) protocol for Bitcoin and bitcoin tokens (e.g. Runes) that executes trades entirely on Bitcoin main net and leverages smart contracts on the Sonic Network to calculate and propagate trade quotes and liquidity. This enables two primary activities for Bitcoin users:
Automated Market Making - Users interested in earning yield on their BTC and runes by trading within a customizable range can deposit their assets into radFi “Agency Pools” (further defined in the “Agency Pool mechanics” section) to execute their chosen strategy. These users are known as Liquidity Providers (“LPs”).
Instant Swaps - Users interested in buying or selling runes can execute trades with near instant execution multiple times within a single block, with settlement happening at the end of a block. These users are known as “traders”.
Trading Wallet
Prior to using radFi, users must request and fund a trading wallet. A trading wallet is a 2/2 multi-signature wallet between the user and radFi, in which radFi’s signature has a predetermined expiration date allowing users to maintain custody of assets held in their trading wallet.
Agency Pool mechanics
Users transfer BTC and/or bitcoin tokens (e.g. runes) from their trading wallet to radFi. The transfer includes instructions with a desired fee tier and price range to trade between BTC and the selected token.
Pricing is determined using the constant product formula within the desired range. The constant product formula is expressed as x * y = k
Fee Earnings
Liquidity Providers earn a portion of the trading fees generated by the agency pool, proportional to their share. Fee tiers may vary by pool, and are set by the liquidity provider. Fees accrue automatically and are claimable at any time.
radFi takes a platform fee (specified in the official radFi documentation) as claimable by users that add liquidity to an Agency Pool
radFi reserves the right to alter the percentage of Fee earnings taken as a platform fee
Risks You Accept
Impermanent Loss (IL): If the price of the pooled tokens diverges significantly from when you deposited, you may experience IL. This is a potential loss in value compared to simply holding the tokens outside the pool, though it’s "impermanent" until you withdraw.
Software Risk: You rely on radFi’s software being secure. There’s no guarantee against bugs or exploits that could lead to loss of funds.
Volatility and Slippage: Your returns depend on trading volume and price stability within your chosen range. Outside that range, your funds earn no fees and may lose value relative to market prices.
No Custodial Oversight: If you lose access to your wallet or send funds incorrectly, there’s no support to recover them.
Immutability and Governance
You accept that future governance decisions could impact pool economics, though core mechanics remain fixed.
Withdrawal and Exit
You can remove liquidity from an agency pool at any time by signing a transaction on the Bitcoin blockchain containing the details of the request, which will then be validated by radFi and the Sonic smart contracts. You will then receive your share of the pool’s assets plus accrued fees. However, the value and composition of what you withdraw depend on the pool’s state at that moment.
No Guarantees or Legal Recourse
radFi offers no warranties or customer support. The protocol’s documentation explicitly states it’s experimental software provided "as is." If something goes wrong (e.g., a hack or loss due to IL), there’s no entity to sue or claim compensation from—your recourse is limited to the blockchain’s transparency and community response.
Network Fees
Interacting with radFi (depositing, withdrawing, claiming fees) requires paying Bitcoin network fees, which can be significant during congestion. These are not radFi’s fees but a cost of using Bitcoin, and you’re responsible for them.
3. Eligibility
The Services are not available to U.S. citizens or residents. To use the Services, you must:
Be at least 18 years of age or the age of legal majority in your jurisdiction;
Not be a citizen or resident of the United States of America, including its territories and possessions;
Not be located in, or a resident of, any country or region subject to U.S. sanctions or embargoes, or otherwise prohibited from accessing the Services under applicable law;
Not be a person or entity barred from using the Services under applicable regulations in your jurisdiction.
By accessing or using the Services, you represent and warrant that you are not a U.S. citizen or resident and that you meet all other eligibility requirements. We reserve the right to restrict access to the Platform from IP addresses or locations associated with the United States.
4. User Responsibilities
4.1 Wallet Security
You are responsible for securing your blockchain wallet, private keys, and any credentials used to access the Services. We are not liable for any loss or damage resulting from unauthorized access to your wallet or loss of your private keys.
4.2 Compliance with Laws
You agree to use the Services in compliance with all applicable laws in your jurisdiction, including but not limited to securities laws, tax obligations, and anti-money laundering (AML) regulations where applicable. You acknowledge that the Services are not intended for use by U.S. citizens or residents and agree not to access the Services from within the United States.
4.3 Prohibited Activities
You may not use the Services to:
Engage in illegal activities, including money laundering, terrorist financing, or fraud;
Trade assets that infringe intellectual property rights or are otherwise unlawful;
Manipulate markets or engage in deceptive trading practices;
Attempt to interfere with, hack, or disrupt the Platform or its underlying blockchain network;
Circumvent restrictions on U.S. citizens or residents, including through the use of VPNs or other anonymizing tools.
5. Risks
You acknowledge and accept the following risks associated with using the Services:
Volatility and Slippage: Your returns depend on trading volume and price stability within your chosen range. Outside that range, your funds earn no fees and may lose value relative to market prices.
Impermanent Loss (IL): If the price of the pooled tokens diverges significantly from when you deposited, you may experience IL. This is a potential loss in value compared to simply holding the tokens outside the pool, though it’s "impermanent" until you withdraw.
Immutability and Governance: You accept that future governance decisions could impact pool economics, though core mechanics remain fixed.
Exploitation Risk: Transactions rely on software, which may contain bugs or vulnerabilities beyond our control.
Regulatory Uncertainty: Changes in laws or regulations in your jurisdiction or the United States may impact your ability to use the Services or the legality of certain assets.
Loss of Funds: Errors, hacks, or loss of private keys may result in irretrievable loss of assets.
6. Fees
The Platform may charge fees for certain transactions or services (e.g., gas fees, liquidity pool fees, or trading fees), which will be disclosed at the time of the transaction. You are responsible for all blockchain network fees associated with your use of the Services.
7. No Warranties
The Services are provided on an "as-is" and "as-available" basis. We make no warranties, express or implied, regarding the availability, accuracy, or reliability of the Platform or Services. We disclaim any liability for interruptions, errors, or losses resulting from the use of the Services.
8. Limitation of Liability
To the fullest extent permitted by law, Lydia Labs SRL and its affiliates, officers, directors, employees, or agents shall not be liable for any direct, indirect, incidental, consequential, or punitive damages arising from your use of the Services, including but not limited to loss of funds, data, or profits. Our total liability, if any, shall not exceed $100 USD.
9. Indemnification
You agree to indemnify and hold harmless Lydia Labs SRL and its affiliates from any claims, losses, damages, or expenses (including legal fees) arising from your use of the Services, violation of these Terms (including accessing the Services as a U.S. citizen or resident), or infringement of any third-party rights.
10. Intellectual Property
All content, trademarks, and intellectual property related to the Platform are owned by Lydia Labs SRL or its licensors. You are granted a limited, non-exclusive, non-transferable license to use the Services for personal, non-commercial purposes, subject to these Terms.
11. Termination
We reserve the right to suspend or terminate your access to the Services at our sole discretion, with or without notice, for any reason, including suspected violation of these Terms (e.g., use by U.S. citizens or residents) or applicable law.
12. Governing Law and Dispute Resolution
You waive any right to participate in a class action lawsuit or class-wide arbitration. Any disputes arising from these Terms shall be resolved through binding arbitration in a jurisdiction of our discretion.
13. Privacy
14. Force Majeure
We are not liable for delays or failures in performance due to events beyond our reasonable control, including but not limited to natural disasters, cyberattacks, or blockchain network failures.
15. Contact Us
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