Terms and Conditions

Last Modified: August 18, 2025

Hello, and welcome to Liquid Bitcoin Foundation’s Terms of Use (these “Terms”). These Terms are important because they describe your rights and obligations when using the Services (defined below) offered by us or our affiliates.

Please note that these Terms contain Indemnification, Governing Law, Dispute Resolution, Assumption of Risk and Disclaimer of Warranties and Limitation of Liability sections that affect your rights, including your ability to bring legal claims against us.

Please read these Terms, our Privacy Policy (the “Privacy Policy”) and any other terms referenced in this document carefully. If you do not agree to be bound by these Terms of Use, you are not permitted to use our Services.

1. Introduction

The Services (defined below) are operated by Liquid Bitcoin Foundation (“Foundation”, “we”, “us”, “our”). These Terms govern your access to and use of the Foundation website (liquidbitcoin.foundation) and related webpages (“Website”) (the “Services”). By assessing and/or using the Services, you agree to be bound by the terms and conditions contained in these Terms, including Section 10 ("Dispute Resolution"), as well as the Privacy Policy.

Foundation reserves the right to withdraw or amend the Services or material we provide, in our sole discretion without notice. Foundation will not be liable if for any reason all or any part of the Services are unavailable at any time or for any period. From time to time, we may restrict access to some parts of the Services to users.

2. Using Our Services

The Services. The Services is a front-end, web-based interface that provides information relating to the governance, grants and ecosystem development of Lombard. Lombard separately operates a protocol that facilitates the staking of digital assets (the “Protocol”), which is not part of the Services. Prior to using the Services, you should read the Terms carefully, including the Important Disclaimers that follow.

By accessing, browsing, or otherwise using the Website or any aspect of the Service, you acknowledge that you have read, understood, and agree to be bound by these Terms of Use. If you are using the Service on behalf of an entity or other organization, you are agreeing to these Terms of Use for that entity or organization and representing to us that you have the authority to bind that entity or organization to these Terms of Use (and, in which case, the terms “you” and “your” will refer to that entity or organization). If you do not accept the terms and conditions of these Terms of Use, you will not access, browse or otherwise use the Website.

Important Disclaimers.

Third-party technologies. The Services may display data or provide links to third-party sites that, in conjunction with certain technologies (including validator nodes, network bridges, and your wallet) controlled or operated by parties other than Foundation (the “Third-Party Technologies”), facilitate your interfacing with a set of decentralized technologies that allow digital assets, such as Bitcoin (BTC), to be staked and re-staked. The Third-Party Technologies are not part of the Services, and your engagement with Third Party Technologies is entirely at your own risk.

Informational purposes only. Information about the Foundation on this Website (the “Documentation”) is provided for informational purposes only and may be incomplete, contain mistakes, or become out-of-date. Users are responsible for verifying that the Documentation is accurate and up to date. We are not liable for any damage or loss caused or alleged to be caused by your reliance on the Documentation or any other information accessed through the Services.

Not financial advice. The Services are not intended as, and do not provide, any investment or financial advice whatsoever. As with any financial or investment decisions, you should conduct your own research and due diligence investigation, to properly evaluate the benefits and risks of any investment or financial transaction. You should also seek the advice and guidance of qualified accountants, financial advisors, tax advisors, legal counsels and investment advisors, in connection with any investment or financial transaction.

Eligibility. You may not use the Services if you:

1. are below the legal age in your jurisdiction, or if it is otherwise illegal in your jurisdiction for you to access, view and/or use the Services;

2. do not have the technical knowledge necessary or advisable to understand and evaluate the risks of using the Services, the Third-Party Technologies, and Third-Party Services;

3. are a Prohibited Person to use the Services. “Prohibited Person” is any person or entity that is (a) the subject of any economic or trade sanctions administered or enforced by any governmental authority, including any person designated on any list of prohibited or restricted parties by any governmental authority, such as the European Union (“EU”) Consolidated List of Persons, the United Kingdom (“UK”) Consolidated List of Financial Sanctions Targets, the United States (“U.S.”) Treasury Department’s list of Specially Designated Nationals, and the U.S. Department of Commerce Denied Persons or Entity Lists; (b) located in, incorporated in, or otherwise organized or established in, or resident of, any country, territory, or jurisdiction that is the subject of comprehensive country-wide or regional economic sanctions or embargoes or has been designated as “terrorist supporting” by the United Nations (“UN”) or any governmental authority of the European Union, UK, or the U.S., including the Office of Foreign Assets Control (“OFAC”) of the U.S. Treasury Department or the Office of Financial Sanctions (“OFSI”) of HM Treasury of the UK (each such country, territory, or jurisdiction, a “Sanctioned Jurisdiction”); (c) owned or controlled by such persons or entities described in (a)-(b); or (d) accessing or using the Services on behalf of persons or entities described in (a)-(c).

If you continue to use the Services, then you will be deemed for all purposes to have represented that none of the conditions listed in (1)-(3) above apply to you. You further represent and warrant that your access and use of the Services complies with all applicable laws and regulations.

Updates to Terms. Your use of the Services is subject to your agreement to these Terms, which may be updated by us at any time with or without notice to you. The date of the most recent change to these Terms will be provided at the top of each version of these Terms. Any such updates will be effective upon our publishing such updated Terms. Your continued access to or use of the Services after the effective date of any update constitutes your acceptance of the updated Terms. If you do not agree with these Terms, you may not use the Services.

Updates to the Services. We may update and change our Services from time to time, for example, to reflect changes to our products, our community’s' needs and our priorities. We will try to give you reasonable notice of any major changes.

Your Commitments. By using the Services, you agree: (a) that you will use our Services only for yourself, and not on behalf of any third party, unless authorized by such third party; and (b) that you are fully responsible for all activity on the Services that occurs under your account. We may, in our sole discretion, refuse to allow you to use the Services, or suspend or terminate your access to the Services. You also agree that any notices, agreements, disclosures, or other communications that we send to you electronically will satisfy any legal communication requirements, including, but not limited to, that such communications be in writing. You may opt out of receiving promotional emails that you have previously opted-in to at any time by following the instructions to unsubscribe, as provided therein.

3. Termination of Access to Services

Suspension, Termination, and Cancellation. Foundation may, at its option and in its sole discretion: (a) suspend, restrict, or terminate your access to any or all of the Services if: (i) we are so required by a facially valid subpoena, court order or binding order of any government authority; (ii) we reasonably suspect you of using the Services in connection with any Prohibited Uses (as defined below); (iii) your use of the Services is subject to any pending litigation, investigation, or government proceeding and/or we, in our sole discretion, perceive a heightened risk of legal or regulatory non-compliance associated with your activity; (iv) any of our service partners are unable to support your use thereof; (v) you take any action that Foundation deems in its sole discretion as circumventing Foundation’s controls, or abusing promotions which Foundation may offer from time to time; or (vi) you breach these Terms.

If Foundation suspends your access or terminates your use of the Services for any reason, we will provide you with notice of our actions, unless a court order or other legal process prevents or prohibits Foundation from providing you with such notice. You acknowledge that Foundation’s decision to take certain actions, including limiting access to or suspending your use, may be based on confidential criteria that are essential to Foundation’s risk management and/or security protocols. You agree that Foundation is under no obligation to disclose the details of its risk management and/or security procedures to you.

4. User Conduct

Prohibited Uses. You may not use the Services to engage in the following categories of activity ("Prohibited Uses"). The Prohibited Uses listed below are representative, but not exhaustive, and Foundation reserves the right to update or amend such list in its sole discretion at any time, with or without notice to you. If you are uncertain as to whether or not your use of the Services involves a Prohibited Use or have questions about how these requirements apply to you, please contact us at [email protected]. By using the Services, you agree that you will not use the Services to do or undertake any of the following, as determined by Foundation in its sole discretion:

• Abusive Activity: Actions which: (i) conduct, facilitate, authorize, or permit any text or data mining or web scraping, (ii) impose an unreasonable or disproportionately large load on our infrastructure, or detrimentally interfere with, intercept, or expropriate any system, data, or information; (iii) transmit or upload any material to the Services that contains viruses, Trojan horses, worms, or any other harmful or deleterious programs; (iv) attempt to gain unauthorized access to the Services; (v) reverse engineer, decompile, or otherwise attempt to derive the source code of the Website or any of the Services except to the limited extent permitted by applicable law; or (vi) circumvent, disable, or otherwise interfere with geoblocking, rate limits, security features, or access controls (including via VPN, proxy, or TOR).

• Unlawful Activity: Activity which would violate, or assist in the violation of, any law, statute, ordinance or regulation, sanctions programs administered in any of the countries where Foundation conducts activities, including but not limited to the U.S. Department of Treasury's Office of Foreign Assets Control ("OFAC"), or which would involve proceeds of any unlawful activity.

• Abuse Other Users: Interfere with another individual's access to or use of the Services; defame, abuse, extort, harass, stalk, threaten, or otherwise violate or infringe the legal or other rights (such as, but not limited to, rights of privacy, publicity, and intellectual property) of others; or harvest or otherwise collect information from the Services about others, including, without limitation, email addresses, without proper consent.

• Fraud: Activity which operates to defraud the Foundation, any user(s) of the Services or any other person, or provide any false, inaccurate, or misleading information to the Foundation.

5. Copyright and License to You

Information Ownership. Unless otherwise indicated in writing by us, the Services and all content and other materials contained therein, including, without limitation, the Foundation logo and all designs, text, graphics, trademarks, pictures, information, data, software, sound files, and/or other files related thereto and/or associated therewith and the selection and arrangement thereof (collectively, “Content”) are and shall remain the sole and proprietary property of Foundation or our affiliates or licensors, if and as applicable.

Third-Party Intellectual Property. Notwithstanding anything to the contrary in these Terms, the Services and Content may include software components provided by Foundation or its affiliates or a third party that are subject to separate license terms, in which case those license terms will govern the usage of such software components, as applicable. Any smart contracts or other open-source components referenced by the Services may be made available under separate open-source licenses. In the event of conflict between these Terms and an applicable open-source license for such components, the open-source license will control for that component.

Third-Party Services. The Services may contain links to third-party websites (“Third-Party Websites”) and/or applications (“Third-Party Applications”). When you click on a link to a Third-Party Website or Third-Party Application, we will not warn you that you have left the Services and are subject to the terms and conditions (including privacy policies, if and as applicable) of another website or destination. Foundation provides these Third-Party Websites and Third-Party Applications only as a convenience and does not review, approve, monitor, endorse, warrant, or make any representations with respect to Third-Party Websites or Third-Party Applications or their products or services. You use all links in Third-Party Websites and Third-Party Applications at your own risk. If you believe that any Third Party Website or Third Party Link includes or promotes illegal, harmful, fraudulent, infringing, obscene, defamatory, threatening, intimidating, harassing, hateful, racially, ethnically or otherwise offensive content, please contact us as stated in Section 12 so that we can remove any such Third Party Link from the Website or the Program. We have no duty to monitor or vet Third-Party Websites or Third-Party Applications and may remove or disable access to any of them at any time.

Limited License to You. These Terms grant users a limited and non-exclusive right to use the Services, including all Content thereon. Except as indicated otherwise herein or in any additional terms or conditions, you may not reproduce, distribute, modify, create derivative works of, publicly display, publicly perform, republish, download, store, transmit, or otherwise exploit any of the Content on our Services, except as follows:

• Your device may temporarily store copies of such materials in RAM incidental to your accessing and viewing those materials.

• You may store files that are automatically cached by your web browser for display enhancement purposes.

You must not:

• Modify copies of any Content from the Services.

• Use any illustrations, photographs, video, or audio sequences or any graphics available through the Services separately from the accompanying text.

• Delete or alter any copyright, trademark, or other proprietary rights notices from copies of materials available through the Services.

If you wish to make any use of Content other than that set out in this Section, please address your request to: [email protected].

6. No Interaction with Lombard Protocol

You understand and agree that the Services provide only a graphical interface for displaying information related to Foundation. By accessing or using the Services, you are not interacting with the Protocol in any way. We do not and cannot control the activity and data on the Protocol or the activities that users, validators, developers and other third parties may conduct on the Protocol.

7. Third-Party Services and Materials

The Services may allow you to browse certain services or products that are developed or operated by persons other than Foundation (“Third-Party Services”), including services or products that purport compatibility with restaked digital assets. The Third-Party Services may display, include or make available content, data, information, applications or materials from third-parties (“Third-Party Materials”) or provide links to certain third party websites. We do not endorse or recommend any Third-Party Materials, the use of any provider of any Third-Party Services, or the restaking or delegation of any assets to any Third-Party Services. You agree that your access and use of such Third-Party Services and Third-Party Materials is governed solely by the terms and conditions of such Third-Party Services and Third-Party Materials, as applicable. Your interactions and transactions are solely between you and the applicable Third-Party Service. We are not a party to, and have no responsibility for, any such dealings, disputes, or obligations. We do not act as your agent, broker, or fiduciary with respect to any Third-Party Service, and listing, surfacing, or auto-populating a Third-Party Service does not constitute an endorsement or recommendation. We are not responsible or liable for, and make no representations as to any aspect of such Third-Party Materials and Third-Party Services, including, without limitation, their content or the manner in which they handle, protect, manage or process data or any interaction between you and the provider of such Third-Party Services. We are not responsible for examining or evaluating the content, accuracy, completeness, availability, timeliness, validity, copyright compliance, legality, decency, quality, security or any other aspect of such Third-Party Services or Third Party Materials or websites. You irrevocably waive any claim against us with respect to such Third-Party Services and Third-Party Materials. We are not liable for any damage or loss caused or alleged to be caused by or in connection with your enablement, access or use of any such Third-Party Services or Third-Party Materials, or your reliance on the privacy practices, data security processes or other policies of such Third-Party Services. Third-Party Services, Third-Party Materials and links to other websites are provided solely as a convenience to you. Certain Third-Party Services or Third-Party Materials may automatically populate on the Company’s Services. We reserve the right to remove any Third-Party Services or Third-Party Materials from the Services for any reason whatsoever.

8. Indemnification

To the fullest extent permitted by applicable law, you agree to indemnify, defend, and hold harmless Foundation, and our respective past, present, and future employees, officers, directors, contractors, consultants, equity holders, suppliers, vendors, service providers, parent companies, subsidiaries, affiliates, agents, representatives, predecessors, successors, and assigns (individually and collectively, the “Foundation Parties”), from and against all actual or alleged claims, damages, awards, judgments, losses, liabilities of every kind, and nature whatsoever, whether known or unknown, that are caused by, arise out of, or are related to (a) your use or misuse of the Services, (b) your violation of these Terms, (c) your violation of any right(s) of any third party, (d) your interactions with or reliance on the Protocol, Third-Party Technologies, or Third-Party Services, (e) any blockchain transaction authorized by your wallet (including transfers to incorrect addresses and failed/reverted transactions that incur network fees), (f) any taxes, duties, or similar assessments arising from your activities, (g) content, data, or information you provide to us, and/or (h) any dispute between you and any third party. You agree to promptly notify Foundation of any Claim(s) and shall cooperate fully with the Foundation Parties in defending such Claims. You further agree that the Foundation Parties shall have control of the defense or settlement of any third party Claims. THIS INDEMNITY IS IN ADDITION TO, AND NOT IN LIEU OF, ANY OTHER INDEMNITIES SET FORTH IN ANY WRITTEN AGREEMENT(S) BETWEEN YOU AND FOUNDATION.

9. Limitation of Liability

EXCEPT AS EXPRESSLY PROVIDED TO THE CONTRARY IN A WRITING BY FOUNDATION, THE SERVICES ARE PROVIDED ON AN “AS IS” AND “AS AVAILABLE” BASIS WITHOUT WARRANTIES OR CONDITIONS OF ANY KIND, EITHER EXPRESS OR IMPLIED. FOUNDATION (AND ITS AFFILIATE(S), LICENSOR(S) AND/OR OTHER BUSINESS ASSOCIATE(S)) MAKES NO WARRANTY THAT THE SERVICES: (A) WILL MEET YOUR REQUIREMENTS; (B) WILL BE AVAILABLE ON AN UNINTERRUPTED, TIMELY, SECURE, OR ERROR-FREE BASIS; OR (C) WILL BE ACCURATE, RELIABLE, COMPLETE, LEGAL OR SAFE. FOUNDATION DISCLAIMS ALL OTHER WARRANTIES OR CONDITIONS, EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, IMPLIED WARRANTIES OR CONDITIONS OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE AND NON-INFRINGEMENT AS TO THE SERVICES, CONTENT CONTAINED THEREIN. YOU ACCEPT THE INHERENT SECURITY RISKS OF PROVIDING INFORMATION AND DEALING ONLINE OVER THE INTERNET AND WILL NOT HOLD US RESPONSIBLE FOR ANY BREACH OF SECURITY UNLESS IT IS DUE TO OUR GROSS NEGLIGENCE. THE FOREGOING DISCLAIMERS APPLY EVEN IF ANY REMEDY FAILS OF ITS ESSENTIAL PURPOSE.

YOU AGREE AND ACKNOWLEDGE THAT FOUNDATION HAS NO CONTROL OVER AND MAKES NO GUARANTEES OR PROMISES WITH RESPECT TO THE PROTOCOL. FOUNDATION MAKES NO OFFER OR INVITATION TO ACQUIRE, PURCHASE, TRANSFER, SELL, OR OTHERWISE DEAL IN BLOCKCHAIN TECHNOLOGIES OR CRYPTOCURRENCIES. YOU WAIVE ANY AND ALL RIGHTS AND CLAIMS YOU MAY HAVE, WHETHER KNOWN OR UNKNOWN AGAINST FOUNDATION (AND ANY RELATED PARTIES) RELATED TO THE SERVICES OR THE PROTOCOL.

TO THE FULLEST EXTENT PROVIDED BY LAW, IN NO EVENT WILL FOUNDATION OR ITS AFFILIATES, OR ITS OR THEIR LICENSORS, SERVICE PROVIDERS, EMPLOYEES, CONTRACTORS, AGENTS, OFFICERS, OR DIRECTORS, BE LIABLE FOR ANY INDIRECT, SPECIAL, INCIDENTAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES, INCLUDING BUT NOT LIMITED TO, PERSONAL INJURY, PAIN AND SUFFERING, EMOTIONAL DISTRESS, LOSS OF REVENUE, LOSS OF PROFITS, LOSS OF BUSINESS OR ANTICIPATED SAVINGS, LOSS OF USE, LOSS OF GOODWILL, LOSS OF DATA, LOSS OF DIGITAL ASSETS, LOSS OF PRIVATE KEY, LOSS OF SEED PHRASE, LOSS OF ACCESS TO ANY DIGITAL WALLET, OR ANY OTHER DAMAGES OF ANY KIND, UNDER ANY LEGAL THEORY, ARISING OUT OF OR IN CONNECTION WITH YOUR USE, OR INABILITY TO USE, THE SERVICES, INCLUDING BUT NOT LIMITED TO ANY CONTENT ON THE SERVICES OR ANY OTHER WEBSITES AND MOBILE APPLICATIONS OR THE PROTOCOL OR ANY ITEMS ACCESSED OR LINKED THROUGH OR FROM THE SERVICES OR SUCH OTHER WEBSITES AND MOBILE APPLICATIONS, WHETHER CAUSED BY TORT (INCLUDING NEGLIGENCE), BREACH OF CONTRACT, OR OTHERWISE, EVEN IF FORESEEABLE.

IN NO EVENT WILL FOUNDATION’S AGGREGATE LIABILITY FOR ALL CLAIMS RELATING TO THE SERVICES, THE ACCESS TO AND USE OF THE SERVICE EXCEED $100.

ANY CAUSE OF ACTION OR CLAIM YOU MAY HAVE ARISING OUT OF OR RELATING TO THESE TERMS OR THE SERVICES MUST BE COMMENCED WITHIN ONE (1) YEAR AFTER THE CAUSE OF ACTION ACCRUES, OTHERWISE, SUCH CAUSE OF ACTION OR CLAIM SHALL BE DEEMED PERMANENTLY WAIVED AND BARRED.

THIS SECTION DOES NOT AFFECT ANY LIABILITY THAT CANNOT BE EXCLUDED OR LIMITED UNDER APPLICABLE LAW. BECAUSE SOME JURISDICTIONS DO NOT ALLOW THE EXCLUSION OR THE LIMITATION OF LIABILITY FOR CONSEQUENTIAL OR INCIDENTAL DAMAGES, IN SUCH JURISDICTIONS THE ABOVE LIMITATIONS AND EXCLUSIONS MAY NOT APPLY TO YOU. IN SUCH JURISDICTIONS, OUR LIABILITY IS LIMITED TO THE EXTENT PERMITTED BY LAW, THEREBY MINIMIZING OUR LIABILITY TO YOU TO THE LOWEST AMOUNT PERMITTED BY APPLICABLE LAW.

10. Dispute Resolution

This Section includes an arbitration agreement and an agreement that all claims will be brought only in an individual capacity (and not as a class action or other representative proceeding). Please read it carefully.

Informal Process. You agree that in the event of any dispute between you and Foundation, you will first contact Foundation in a writing that specifically references this section and which describes the dispute and your position in relation to it in sufficient details for the receiving company to engage in meaningful discussions about the dispute (“Dispute Notice”). For a period of no less than thirty days after receipt of the Dispute Notice, or such longer period as the parties may agree in writing, you shall make a good faith and sustained effort to resolve the dispute before resorting to more formal means of resolution.

Agreement to Arbitrate. All claims, disputes and controversies directly or indirectly arising out of or in connection with or directly or indirectly relating to these Terms or any of the matters or transactions contemplated by these Terms (for the avoidance of doubt, including any claim seeking to invalidate, or alleging that, all or any part of these Terms is unenforceable, void or voidable) (such claims, disputes and controversies, collectively, “Disputes”) shall be resolved by confidential, binding arbitration to be seated in the Cayman Islands and conducted in the English language by a single arbitrator pursuant to the International Arbitration Rules of the International Centre for Dispute Resolution (the “Rules”). The arbitrator shall be appointed in accordance with the procedures set out in the Rules. The award or decision of the arbitrator shall be final and binding upon the parties and the parties expressly waive any right under the laws of any jurisdiction to appeal or otherwise challenge the award, ruling or decision of the arbitrator. The judgment of any award or decision may be entered in any court having competent jurisdiction to the extent necessary. If any party elects to have a Dispute resolved by arbitration pursuant to this provision, no party hereto shall (or shall permit its representatives to) commence, continue or pursue any Dispute in any court; provided, however, that we shall be entitled to obtain an injunction or injunctions to prevent breaches of this provision and to enforce specifically the terms and provisions thereof, this being in addition to any other remedy to which we are entitled at law or in equity, and the parties hereto hereby waive the requirement of any posting of a bond in connection with such injunctive relief or specific performance.

The laws of the Cayman Islands shall govern this arbitration agreement, which shall survive any termination of these Terms.

If you wish to begin an arbitration proceeding, after following the informal dispute resolution procedure, you must send a letter requesting arbitration and describing your claim to: [email protected].

11. Miscellaneous

Governing Law and Venue. These Terms, your access to and use of the Services shall be governed by and construed and enforced in accordance with the laws of the Cayman Islands.

Severability. If any term, clause or provision of these Terms is held invalid or unenforceable, then that term, clause, or provision will be severable from these Terms and will not affect the validity or enforceability of any remaining part of that term, clause, or provision, or any other term, clause, or provision of these Terms.

Wavier. If we fail to insist that you perform any of your obligations under these Terms, or if we do not enforce our rights against you, or if we delay in doing so, that will not mean that we have waived our rights against you and will not mean that you do not have to comply with those obligations. If we do waive a default by you, we will only do so in writing, and that will not mean that we will automatically waive any later default by you.

Assignability. These Terms are personal to you, and are not assignable, transferable, or sublicensable by you except with Foundation’s prior written consent.

Notices. All notices under these Terms will be in writing and will be deemed to have been duly given when received, if personally delivered or sent by certified or registered mail, return receipt requested; when receipt is electronically confirmed, if transmitted by facsimile or e-mail; or the day after it is sent, if sent for next day delivery by recognized overnight delivery service.

12. Contact us

If you have any questions or complaints about our Services or these Terms, please email us at [email protected].