KIP-35: Decentralization Usage Acknowledgement

Author
StatusApproved
Created2022-10-04

Summary

Kwenta will add an acknowledgment for new addresses that interact with the Kwenta UI which states that Kwenta is decentralized and it is up to the user to determine whether they are able to use the interface pursuant to their local regulations.

Abstract

Users will be required to sign a message stating that they understand Kwenta is a decentralized platform and that they have determined whether their local regulations allow them to use such products.

Motivation

By ensuring that new users are prompted with information surrounding the usage of Kwenta, we will clarify Kwenta’s area of operation and improve users’ awareness about whether they are acting outside of their local regulatory framework or not, ensuring that individuals understand the risks they may be taking and that they are assuming sole responsibility for their actions.

Specification

New Wallet Acknowledgement When a new address arrives at Kwenta, a modal will pop-up with a CTA requesting users to confirm that they understand the disclaimer and wish to proceed.

The text in the acknowledgement will be as follows:

Kwenta is a decentralized exchange, native to the internet, managed by an international community, offering accessible investment tooling in an effort to improve financial equality. By agreeing, you acknowledge that Kwenta is not designed for use in every legal jurisdiction and represent that you have investigated your personal legal situation and consulted with a legal representative in your jurisdiction if necessary.

Please acknowledge that you have read our terms and conditions agreement (once available) as well as understood your local regulations well enough to determine whether you are operating within your rights when using Kwenta as Kwenta does not block anyone from accessing the protocol due its reliance on smart contracts and blockchain systems. All users assume responsibility for their own actions.

**Terms of Service Agreement **

The terms and conditions agreement will be introduced via a future KIP.

Copyright and related rights waived via CC0.