Restrictions
The Opium protocol, its products and websites are for sophisticated users only. It should be clear that despite the underlying technology of the Opium protocol being simple to use, the creation of financial contracts requires knowledge and experience. Thus, Opium is not meant to be broadly adopted by end-users; it serves primarily the community of developers and DeFi professionals, who are able to evaluate associated risks, including, but not limited to, the technical failure and permanent capital loss.
To be compliant with the local regulations, the Opium protocol and Opium products can’t be accessed by citizens and residents of the USA, Japan and some other jurisdictions. Although it is impossible to prevent users from the above-mentioned territories from accessing blockchain and development modules, the website and other parts of the Opium ecosystem are blocked for certain geographies. Please note that by trying to access Opium via VPN or lying about your citizenship you are breaking the law. It’s essential to understand that the parallel with traditional financial tools such as derivatives is drawn solely for a simplified explanation of Opium’s possibilities. Despite seeming similarity, DeFi tools are quite different, with their unique costs and benefits, risks and protection mechanisms. For example “call option” on a decentralized protocol may describe a financial primitive that behaves like a “call option spread” most of the time, but has some crucial differences in terms of counterparty risk (managed by blockchain), settlement asset, technological risks and underlying asset.
The Opium protocol provides software that enables and enforces transactions between two or more parties without a traditional centralized intermediary but via a smart contract. If the software fails to execute an operation due to malfunction, exploit or underperformance, parties may lose their funds without the ability to bring the case to the court of law for arbitration. A smart contract isn’t a person, neither it is controlled by any person or persons and thus it cannot be forced in court or otherwise to pause, reverse or change a transaction. There is no legal enforcement associated with the contract. Please make sure you fully understand how this software operates, the incentive mechanism that it employs, implications of technical failure and other protocol-specific risks before using any of the Opium products.
When in doubt, please refer to the Terms and Conditions that can be found at The Opium Finance website and other parts of the Opium ecosystem. To learn more about the software, please review the technical documentation and code.
Never transact with funds you can’t afford to lose.
Last updated