General Risk Warning

A. How to interpret this Risk Warning

This notice should be read in conjunction with Freeway’s Terms and Conditions posted on its website and updated from time to time.

B. Freeway Services

This notice provides you with information about the risks associated with Freeway Services. Each Freeway Service has its own distinct risks. This notice provides a general description of the risks when you use Freeway Services.

This notice does not explain all of the risks or how such risks relate to your personal circumstances. It is important that you fully understand the risks involved before making a decision to use Freeway Services.

C. No Personal Advice

We do not provide personal advice in relation to our products or services. We sometimes provide factual information, information about transaction procedures and information about the potential risks. However, any decision to use our products or services is made by you. No communication or information provided to you by Freeway is intended as, or shall be considered or construed as, investment advice, financial advice, trading advice, or any other sort of advice. You are solely responsible for determining whether any transaction is appropriate for you according to your personal objectives, financial circumstances and risk tolerance.

D. No Monitoring

Freeway is not your broker, intermediary, agent, or advisor and has no fiduciary relationship or obligation to you in connection with any purchase, trades or other decisions or activities undertaken by you using Freeway Services. We will not and do not monitor whether your use of any current non-financial services or any future financial products or services are consistent with your financial goals and objectives noting that Freeway does not provide financial or investment products. With respect to the Freeway Superchargers (“virtual simulation tokens”), you should use the platform responsibly. You should always set limits on the amount of tokens you deposit or funds you spend when you access the platform. It is up to you to assess the amount you feel comfortable spending to participate in the products and other non-financial services offered.

E. No Tax, Regulatory or Legal Advice

The taxation of digital assets, rewards and virtual simulation tokens is uncertain, and you are responsible for determining what taxes you might be liable to, and how they apply, when transacting through the Freeway Services. It is your responsibility to report and pay any taxes that may arise from transacting on the Freeway Services, and you acknowledge that Freeway does not provide legal or tax advice relative to these transactions. If you have any doubts about your tax status or obligations when using Freeway Services, or with respect to the digital assets or virtual simulation tokens held to the credit of your Freeway account, you may wish to seek independent advice.

You acknowledge that, when, where and as required by applicable legislation, Freeway shall report information regarding your transactions, transfers, distributions or payments to tax or other public authorities. Similarly, when, where and as required by applicable law, Freeway shall withhold taxes related to your transactions, transfers, distributions or payments. Applicable legislation could also prompt Freeway to request you to provide additional tax information, status, certificates or documentation. You acknowledge that failure to answer these requests within the timeframe defined, may result in withholding taxes by Freeway, to be remitted to tax authorities as defined by relevant law. You are encouraged to seek professional and personal tax advice regarding the above and before making any digital asset transaction.

F. Market Risks

Digital asset and virtual simulation token trading are subject to high market risk and price volatility. Changes in value may be significant and may occur rapidly and without warning. Past performance is not a reliable indicator of future performance. The value of digital assets and the amount Freeway is willing to exchange for virtual simulation tokens and any rewards you have earned can go down as well as up, and you may not get back the amount you expended to purchase virtual simulation tokens.

G. Redeemability & Liquidity Risk

Digital assets may have limited liquidity which may make it difficult or impossible for you to sell or exit a position when you wish to do so. This may occur at any time, including at times of rapid price movements. Virtual simulation tokens are closed-loop tokens existing only within the Freeway Platform, they cannot be traded on a secondary market, are not obligated to be redeemed or exchanged by Freeway and create no financial entitlements.

H. Fees & Charges

Freeway may, in its discretion, update fees & charges from time to time. Please be aware of all costs and charges that apply to you, because such costs and charges will affect the virtual simulation tokens or rewards you earn from using Freeway Services.

I. Availability Risk

We do not guarantee that the Freeway Services will be available at any particular time or that Freeway Services will not be subject to unplanned service outages or network congestion. It may not be possible for you to buy, sell, store, transfer, send or receive digital assets or virtual simulation tokens when you wish to do so.

J. Third Party Risk

Third parties, such as payment providers, custodians, and banking partners may be involved in the provision of Freeway Services. You may be subject to the terms & conditions of these third parties, and Freeway may not be responsible for any loss that these third parties may cause to you.

K. Data Security and Privacy Risk

It is not possible for Freeway to eliminate all account security risks. You are responsible for keeping your Freeway Account password safe, and you may be responsible for all the transactions under your Freeway Account, whether you authorised them or not. Transactions in digital assets or virtual simulation tokens may be irreversible, and losses due to fraudulent or unauthorised transactions may not be recoverable.

L. Risks related to Digital Assets and Virtual Simulation Tokens

Given the nature of digital assets and virtual simulation tokens and their underlying technologies, there are a number of intrinsic risks, including but not limited to:

  1. faults, defects, hacks, exploits, errors, protocol failures or unforeseen circumstances occurring in respect of a digital asset or virtual simulation token or the technologies or economic systems on which the digital asset or virtual simulation token rely;
  2. transactions in digital assets or virtual simulation tokens being irreversible. Consequently, losses due to fraudulent or accidental transactions may not be recoverable;
  3. technological development leading to the obsolescence of a digital asset or virtual simulation token;
  4. delays causing a transactions not be settled on the scheduled delivery date; and
  5. attacks on the protocol or technologies on which a digital asset or virtual simulation token depends, including, but not limited to: i. distributed denial of service; ii. sybil attacks; iii. phishing; iv. social engineering; v. hacking; vi. smurfing; vii. malware; viii. double spending; ix. majority-mining, consensus-based or other mining attacks; x. misinformation campaigns; xi. forks; and xii. spoofing.

M. Monitoring Risks

Digital asset markets are open 24 hours a day, 7 days a week. Rapid price changes may occur at any time, including outside of normal business hours.

N. Communication Risks

When you communicate with us via electronic communication, you should be aware that electronic communications can fail, can be delayed, may not be secure and/or may not reach the intended destination.

O. Currency

Currency exchange fluctuations will impact your virtual simulation token amounts.

P. Legal Risk

Changes in laws and regulations and their interpretations may materially affect the legality or availability of digital assets and virtual simulation tokens. This risk is unpredictable and may vary from market to market.