Chicken Bonds
BondPlease read this Disclaimer carefully before accessing, interacting with, or using the Chicken Bonds Protocol, consisting of the Chicken Bonds technology stack (in particular its smart contracts) as well as any other Chicken Bonds technology such as e.g., the launch kit for frontend operators (together the “Chicken Bonds Software”).
Chicken Bonds is a novel mechanism for DAOs/projects to bootstrap protocol-owned liquidity (POL) while boosting yield opportunities for its end users. For the use of the functions of the Chicken Bonds Software, the involved smart contracts automatically and autonomously manage the deposited and bonded tokens across three buckets: 1) Pending, 2) Reserve and 3) Permanent Bucket. In the Pending Bucket the protocol holds the users bonding tokens which can at any time be withdrawn by canceling a bond. Once the bond is claimed the protocol distributes the bonded tokens into the Reserve and Permanent Bucket based on algorithmically defined rules.
Tokens in the Reserve Bucket can be redeemed through users that hold bTokens which are minted by the Chicken Bonds Protocol (once users have claimed their bond). Tokens in the Permanent Bucket belong to the protocol and are managed by the protocol to improve liquidity for LUSD, stabilize the peg and earn yield for the Reserve Bucket.
Please refer to the technical documentation for more information about the functioning of the Chicken Bond Software.
While Liquity AG developed the Chicken Bonds Software, the Chicken Bonds Software runs in a fully decentralized and autonomous manner on the Ethereum network. Liquity AG is neither involved nor in any way responsible for the operation, running or functioning of the Chicken Bonds Software and/or any of the interactions, collaborations or factual relationships between Users and the smart contracts of the Chicken Bonds Software. Liquity AG has neither access to nor any other possibility to control and/or influence the corresponding transactions, deposits and/or allocations made by the Users and the involved smart contracts using the Chicken Bonds Software. Liquity AG does not operate an own frontend, nor has it entered in any relationship towards the frontend operators.
In particular, Liquity AG has not and will not enter into any legal or factual relationship with any User of the Chicken Bonds Software. Consequently, LIQUITY AG IS NOT LIABLE TO ANY USER FOR DAMAGES, INCLUDING ANY GENERAL, SPECIAL, INCIDENTAL OR CONSEQUENTIAL DAMAGES ARISING OUT OF THE USE, IN CONNECTION WITH THE USE OR INABILITY TO USE THE CHICKEN BONDS SOFTWARE (INCLUDING BUT NOT LIMITED TO LOSS OF ETH, LUSD (AND/OR ANY OTHER TOKEN), LOSS OF DATA, BUSINESS INTERRUPTION, DATA BEING RENDERED INACCURATE OR OTHER LOSSES SUSTAINED BY A USER OR THIRD PARTIES RELATED TO THE CHICKEN BONDS SOFTWARE AND/OR ANY ACTIVITY OF A FRONTEND OPERATOR OR A FAILURE OF THE CHICKEN BONDS SOFTWARE TO OPERATE WITH ANY OTHER SOFTWARE OR PROTOCOL).
As the Chicken Bonds Software is of experimental nature it may contain bugs, defects, or errors (including any bug, defect, or error relating to or resulting from the display, manipulation, processing, storage, transmission, or use of data) that may materially and adversely affect the use, functionality, or performance of the Chicken Bonds Software or any product or system containing or used in conjunction with the Chicken Bonds Software.
THE CHICKEN BONDS SOFTWARE HAS BEEN PROVIDED "AS IS", WITHOUT WARRANTY OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO THE WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NON-INFRINGEMENT.
THE CHICKEN BONDS SOFTWARE IS HIGHLY EXPERIMENTAL AND ANY REAL LUSD AND/OR OTHER TOKEN SENT OR DEPOSITED TO THE CHICKEN BONDS SOFTWARE ARE AT RISK OF BEING LOST INDEFINITELY, WITHOUT ANY KIND OF CONSIDERATION.
There are no official frontend operators, and the use of any frontend is made by the User at its own risk. To assess the trustworthiness of a frontend operator lies in the sole responsibility of the User and must be made carefully.
Further, as the Chicken Bonds Software is built on the Ethereum network its proper functioning is depending on the Ethereum network.
There are also general risks associated with purchasing, owning and using a cryptographic Token (hereinafter “Token”) In order to access and make use of certain features of the Chicken Bonds Software, a User may need a Token (in particular, ETH, LUSD and/or bLUSD).
Tokens such as ETH, LUSD and/or bLUSD are highly volatile due to many factors including but not limited to adoption, speculation, technology, and security risks. The cost of transacting on the Ethereum network or related blockchain technologies is variable and may increase at any time causing an impact on any activities taking place on the Ethereum network.
User is solely responsible for transacting and holding Tokens and Coins like ETH, LUSD and/or bLUSD while accessing and/or interacting with the Chicken Bonds Software.
LUSD and/or bLUSD does not represent or constitute any ownership rights or stake, shares or security or equivalent rights nor any rights to receive future revenues or shares or any other form of participation or governance rights in or relating to any private individual or legal entity.
User is responsible for implementing reasonable measures for securing the wallet, vault or other storage mechanism used to receive and hold ETH and LUSD or any other Token, including any requisite private key(s) or other credentials necessary to access such storage mechanism(s). If User’s private key(s) or other access credentials are lost, User may lose access to its Token.
Chicken Bonds Software could be impacted by one or more regulatory inquiries or regulatory actions, which could impede or limit User’s ability to access or use the Chicken Bonds Software.
The user is solely responsible for complying with applicable law when interacting (in particular, when using ETH, LUSD or other Token) with the Chicken Bonds Software whatsoever.
