BackedTerms and risk disclosure
Please read this before you use Backed. By using the site or the contracts you accept what follows.
What Backed is
Backed is a website and a set of public smart contracts on Robinhood Chain. The site is an interface: it reads the chain and helps you build transactions that you sign in your own wallet. Backed never holds your funds or your keys.
No advice, no promise of value
Nothing here is financial, legal or tax advice. Coins launched through Backed are memecoins created by their own launchers. They have no intrinsic value and their price can fall to zero.
The word backed describes one mechanism only: a share of trading fees is used every hour to buy the busiest coins, and the coins bought are locked. It is not a guarantee, a peg, a floor, an insurance or a promise of return.
Coins and their creators
Anyone can launch a coin with any name, ticker and image. Backed does not review, endorse or control coins or their creators, and is not responsible for what they do or say. A coin that uses the name or image of a person, company or project is not affiliated with it unless that party says so itself.
Smart contract risk
The contracts cannot be upgraded and have not been audited by a third party. They may contain errors. Transactions on a blockchain are final: a mistaken or unwanted transaction cannot be reversed by anyone. The contracts also depend on Pons and on Robinhood Chain, which Backed does not control.
Your responsibility
You are responsible for your wallet, for the transactions you sign and for following the laws that apply to you, including tax. Do not use Backed if doing so is not allowed where you live. Only use money you can afford to lose.
No warranty
The site and the contracts are provided as they are, without warranty of any kind. To the extent the law allows, the people behind Backed are not liable for any loss that comes from using them, including losses from bugs, downtime, wrong data shown on the site, or the actions of other users.
Changes
These terms may be updated. The contracts already deployed keep working as they were written. How the mechanism works is described in the docs.