Risk Disclosure

Disclaimers and Disclosures on Risk

Risk Disclosures protect Seneca Protocol (aka Seneca DAO or Seneca), End Users, Holders, Traders, and prospective Holders, and helps to ensure that Seneca maintains lawful operations. This General Disclaimer applies to "SEN", "sSEN", "senUSD", and all associated Seneca assets. Any mention of "SEN" shall apply to "SEN",, "sSEN", "senUSD", Seneca DAO, and Seneca Protocol. These Terms may be changed from to time, without prior notice. All users and token holders are subject to Seneca's [forthcoming] Terms of Service and Use, Seneca's Privacy Policy, and all further Terms and Conditions as Seneca may periodically distribute.

An overview on Risks and Risk Management​

Seneca is not a Security or an Investment​

Please be advised: Cryptocurrencies and Digital Assets are inherently risky. Cryptocurrencies are naturally subject to volatile price action. Nothing on this website should be considered Financial Advice. Under the United States Securities and Exchange (SEC) Howey Test, Seneca is not a Security. An individual receives a Security in exchange for providing money and subsequently expecting profit off the work of others. No relationship is created between any parties; no party, neither the user nor Seneca, owes any obligation to the other. No party is performing any work on behalf of the other. Seneca's creators do not work for you, and you do not work for Seneca. No party has made any promises to any other party. Seneca is merely a decentralized gateway for value accrual for as long as blockchains and Distributed Ledger Technology (DLT) offers rewards or emissions, the entirety of which is powered by decentralized automated smart contracts. Neither Seneca nor "SEN" or its progeny are designed as Securities and is not subject to Federal or international laws and regulations governing Securities. Individuals residing in countries which ban or restrict the possession or acquisition of cryptocurrencies or digital assets like "SEN" are prohibited from acquiring Seneca-based tokens or interacting the with Dapp. The information contained on this site is for informational and educational purposes only. We recommend you consult with your Financial Advisor, Accountant, and Tax Attorney prior to making any financial decisions. Seneca seeks to establish itself as a safer alternative to traditional DeFi protocols but is nevertheless subject to natural price fluctuation and market volatility, including violent price action in market corrections or coordinated sell-offs, such as those triggered by Centralized Exchanges. Seneca and its creators are not responsible for any capital gains or losses incurred by users. Do your own research and consult with experts before making any financial decisions. Do not spend money you cannot afford to lose.

Seneca is not a Commodity

Neither Seneca nor "SEN" or its progeny are Commodities under the Rules and Regulations outlined by the U.S. Commodity Futures Trading Commission ("CFTC"). Through regulatory enforcement actions, the CFTC prohibits any DeFi protocol to market, advertise, or otherwise promote any decentralized or crypto-based trading products related to the use of Margin, Leverage, Futures, and/or Perpetuals Trading. For these reasons, Seneca prohibits U.S. based crypto market participants from interacting with the Seneca Dashboard or trading "SEN".

Disclosures: Sanctions​

U.S.-sanctioned individuals, as defined by the U.S. Treasury Office of Foreign Asset Controls ("OFAC") and residents of U.S.-sanctioned countries are prohibited from acquiring, possessing, or trading "SEN" or its associated tokens. By interacting with Seneca's website, Dapp, and/or the "SEN" token, or within any Decentralized Exchange (DEX) or Centralized Exchange (CEX), you are self-certifying that you are not a sanctioned individual prohibited from purchasing, acquiring, or otherwise holding or trading "SEN".

Disclaimer: General

Disclaimer: Seneca is a decentralized cryptocurrency project which introduces a native digital asset (token), "SEN". "SEN" is not owned by any one person or entity. Neither the creators of Seneca, nor the Seneca entity itself are responsible for losses, mistakes, errors, or inaccuracies you experience or encounter while interacting with Seneca's website, Dapp, Documentation, social media accounts, or the "SEN" token ecosystem. By interacting with this Website, you expressly agree to use this platform and/or trade or possess these tokens at your own risk. No information on this website, platform, or Dapp should be considered financial, legal, tax, or accounting advice in any capacity. "SEN" is neither an investment, nor a Security, and is not subject to the jurisdiction of the SEC or any Securities agency. DeFi is inherently risky and you should never risk more capital than you can afford to lose.

Disclaimer: Restricted Locations​

Due to issues pertaining to regulatory uncertainty, use of the Seneca Dashboard/Dapp and trading the "SEN" token is currently prohibited across the following locations: United States, European Union, and restricted locations in Asia, the Middle East, and Africa.

Meaning of Revenue(s) and Yield

Seneca distributes yield in specific cryptocurrencies over the duration of the project. This should never be misunderstood or misconstrued to mean "forever," "indefinite," "eternal," "lifetime," or otherwise. Seneca will never make any promises, claims, guarantees, or assurances that the platform, entity, project, token, or structure will last indefinitely. Seneca as a project may pivot its cryptocurrency yield distribution mechanisms. Seneca as a project may also be forced to one day cease operations (due to, for example, insolvency or Cease-and-Desist), in which case any accrued yield may run the risk of becoming devalued. In the event Seneca's operations cease, "SEN" shall continue to exist, but some yield distribution mechanisms may be affected.

Inherent Smart Contract and Staking Risk​

There exist a number of potential risks when deploying a Contract or staking $ETH:

• Smart Contract Security

  • There is an inherent risk that, even in the presence of audited smart contracts, any smart contract created by Seneca could contain a bug or vulnerability. Seneca's code is open-source, and is available for review by all.

  • There is an inherent risk that, even in the presence of audited smart contracts, any smart contract created by Seneca could be exploited through an exploit affecting the Deployer wallet, which could enable a criminal to gain unlawful access to the Contract. Seneca maintains security mechanisms to mitigate this risk; this risk, however, is the same risk to which every cryptocurrency wallet is subject to and can never be made entirely risk-free.

• Technical Risk regarding Ethereum

  • There exists no guarantee the Ethereum network will remain operational throughout the life of Seneca.

• Seneca DAO ETH Management Risk

  • There permanently exists a risk that Seneca's treasury or $ETH funds may be exploited and/or stolen. While the Seneca team employs security measures to avoid this, this risk applies to all cryptocurrency projects and can be minimized, but never avoided completely.

• Token Price Risk

  • "SEN" and all Seneca assets may be subject to major price fluctuations, including possessing a market value lower than their supposedly intrinsic or inherent value. Ultimately, the market determines the price of "SEN", not the creators of Seneca.

Terminology​

Seneca / "SEN" is not an investment. "SEN" is a decentralized cryptocurrency project as is not subject to laws and regulations governing securities or commodities. Terms like "perpetual," "product," "service," "annuity," "dividend(s)," "reward(s)," "offering(s)," "yield," "structured product," "real yield," "rate(s)," "savings," "earning(s)," "revenue," "income," "APY," "APR," "annualized," "risk-free rate," "tokenomics," etc., should be construed merely as descriptive marketing terms to convey the project's purpose to holders or potential holders in a way that is familiar to most people.These terms are familiar to individuals who invest in traditional markets, and are thus more appropriately used to create an accurate depiction of this DeFi project, as opposed to creating entirely new terminology. Creating new terminology which foreign to the reasonable person, to describe Seneca, could be viewed as deceptive or misleading. It is for these reasons Seneca uses these existing terms. These words and others like it are mere descriptors - colorful marketing terms, and should not be misunderstood to constitute an investment, promise, or guarantee of any sort.

Roadmap Disclosures​

Seneca does not provide a Roadmap, and development announcements constitute a Notice of Intent, not an Offer, Agreement, Promise, Contract, or Guarantee

Seneca will not publish a traditional Roadmap. Announcements by the Seneca team with respect to announcing continued development shall be viewed by all users, traders, holders and prospective holders as Seneca's official intent, not as an offer, promise, guarantee, contract, or agreement. Regulatory authorities across the world have occasionally filed enforcement actions against DeFi projects which present a Roadmap with no intention to fulfill anything outlined on the Roadmap. Clearly, this is not the case here, as Seneca has already built certain features contained within our internal Roadmap. However, Seneca as an entity and its creators and development team must release this Notice of Intent as a means to shield Seneca and the team against enforcement actions, whether brought by regulatory agencies, traders, holders, prospective holders, or end users. This disclaimer signals Seneca's Notice to holders, traders, end users, and regulatory agencies that Seneca's development announcements and mentions of plans, progress, or intentions are merely an intention and shall never be construed otherwise for any reason. For these reasons, the Seneca internal Roadmap is subject to change, and may be partially fulfilled, altered, or modified. The end user (holder) agrees to hold harmless and indemnify Seneca and its creators for liability and damages in the event Seneca completes only a portion of the Roadmap, or if Seneca changes, deletes, alters, or modifies parts or all of this Roadmap. Completion of all or part of this Roadmap, whether in its current form or in a modified form, is entirely dependent on continued funding, volume, support mechanisms, the team's operational and development capacities and capabilities, perceived interest by the relevant market at the time of consideration, change, and/or implementation, and more. Seneca will of course reasonably seek to complete this Roadmap in its current form or in a modified or revised capacity; however, please remember, the Seneca internal Roadmap is not an offer, promise, guarantee, agreement, or contract, but rather signals the DAO's intent to create a flourishing ecosystem of DeFi products for the benefit of end users.

VPN use is Prohibited

Seneca utilizes advanced geo-fencing technologies with the express intent of restricting and prohibiting access to Seneca by prohibited individuals or individuals within restricted jurisdictions. Using a VPN or other proxy to bypass these restrictions is EXPRESSLY PROHIBITED.

Use of "SEN" and "SEN"-derivatives in the commission of a Crime is expressly Prohibited

Though it goes without saying, no individual may use "SEN" or any Seneca-associated tokens or products for the purpose of, or in the commission of a crime, including money laundering.