> For the complete documentation index, see [llms.txt](https://docs.axis.to/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.axis.to/resources-and-legal/risk-disclosure.md). # Risk Disclosure The purpose of this Risk Disclosure Statement (this "Risk Disclosure") is to describe certain risks associated with accessing or using the Axis Platform, the Axis Protocol, USDx, sUSDx and any related products or services. This Risk Disclosure should be read together with any other agreements or policies made available in connection with the Platform. Terms used in this Risk Disclosure are defined in [Defined terms](#defined-terms) below. Where a Terms of Use is published, that document and its definitions will govern. While this Risk Disclosure describes a number of key risks, it does not identify every risk that may arise in connection with the Platform, the Protocol or Digital Assets generally. Additional risks, whether known or unknown, may arise over time as technology, markets and regulatory frameworks evolve. Before using the Platform, you should carefully consider whether doing so is appropriate in light of your financial circumstances, risk tolerance and investment objectives. By accessing or using the Platform, you acknowledge that you have read this Risk Disclosure, understand that the Platform involves financial, technological and regulatory risks, and accept those risks. ## Defined terms * **Platform** means the Axis Protocol together with the interfaces, applications and services made available in connection with it. * **Protocol** or **Axis Protocol** means the onchain smart contracts implementing USDx, the USDx primary market and the sUSDx rewards vault. * **Services** means the services made available through the Platform. * **Digital Assets** means cryptographic tokens and assets recorded on a blockchain, including USDx and sUSDx. * **Applicable Law** means the laws, regulations, rules and regulatory guidance applicable to you, to the Company or to the Platform. * **Company** means the entity that makes the relevant interface or service available to you, as identified in the terms presented at that interface. USDx is issued by **Coordinate Origin Limited**, a British Virgin Islands company. The Axis software is developed by **Coordinate Labs Pte Ltd**, a Singapore company. Which entity makes a given interface or service available to you is identified in the terms presented at that interface. ## Nature of USDx and sUSDx USDx is not legal tender, a bank deposit, electronic money or stored value, and is not insured or guaranteed by any government, central bank or deposit protection scheme. Although the Axis Protocol facilitates the minting and redemption of USDx, this mechanism is not intended to, and does not, guarantee that USDx will always maintain parity with the U.S. dollar. sUSDx is a protocol token that represents your proportional interest in staked USDx together with any rewards accrued in accordance with the Protocol. Holding sUSDx does not entitle you to a fixed or guaranteed rate of return, and the Protocol does not promise or guarantee any minimum, fixed or projected rewards. Past reward levels are not indicative of future performance. The availability of primary minting and redemption is subject to the Protocol's eligibility, operational and compliance requirements. In addition, the availability and pricing of USDx and sUSDx on secondary markets will depend on market participants and liquidity. The Company does not guarantee the availability of primary minting or redemption at all times or the existence of an active or liquid secondary market. ## Technology risks The Platform and the Axis Protocol rely on blockchain networks, smart contracts and other technology that may be subject to bugs, vulnerabilities, cyberattacks or other technical failures. Although the Company seeks to maintain the security and reliability of the Platform, interruptions, delays or unexpected outcomes may occur. The Platform also depends on third-party infrastructure and other service providers that are outside the Company's control. Disruptions affecting such third parties may impact the availability or operation of the Platform. Transactions recorded on a blockchain are irreversible once confirmed. You should carefully review all transaction details before authorising any transaction through the Platform. By accessing or using the Platform, you acknowledge and accept the technological risks associated with blockchain networks, smart contracts and decentralised systems, and understand that such risks may affect the availability, functionality and operation of the Platform or the Protocol. ## Platform changes The Company may, from time to time, implement upgrades, modifications or other changes to the Platform or the Protocol to improve functionality, address security concerns, comply with Applicable Law or respond to changing market conditions. Such changes may alter the operation of the Protocol, affect the availability of certain features or require temporary suspension of Services. References to planned or future functionality should not be relied upon as a commitment that such functionality will be made available. While the Company will endeavour to minimise disruption where reasonably practicable, it cannot guarantee uninterrupted access to the Platform or that any upgrade or modification will be free from unintended consequences. ## Regulatory and legal risks The regulatory treatment of digital assets continues to evolve and may differ across jurisdictions. Changes in applicable laws, regulations, regulatory guidance or governmental actions may affect the availability, operation or use of the Platform, the Axis Protocol, USDx, sUSDx or the Services. To comply with applicable legal or regulatory requirements, the Company may modify, suspend or discontinue certain Services, impose additional eligibility or compliance requirements, or restrict access to the Platform in certain jurisdictions. You are responsible for ensuring that your access to and use of the Platform complies with the laws applicable to you, including any tax, reporting or other legal obligations arising from your use of the Platform. ## Jurisdiction risk Access to the Platform and certain Services may be restricted or unavailable in particular jurisdictions. Changes to your place of residence, domicile, tax residency, citizenship or Applicable Laws may affect your eligibility to access or use the Platform or certain Services. Where necessary to comply with Applicable Laws or regulatory requirements, the Company may restrict, suspend or terminate your access to the Platform or any Service. You are solely responsible for ensuring that your access to and use of the Platform remains lawful at all times. The jurisdictions in which access is currently restricted are listed under [Restricted jurisdictions](/resources-and-legal/compliance.md#restricted-jurisdictions). ## Further risks The following risks are additional to those described above. **Risk of loss.** Interacting with USDx, sUSDx and the Axis Protocol carries a risk of financial loss, including the partial or total loss of any assets you deposit, stake or hold. You should only participate with assets you can afford to lose entirely, and you are solely responsible for your own decisions. **Loss of value.** The value of USDx and sUSDx can fall as well as rise, and can fall to zero. USDx is backed by an actively-managed portfolio of assets and is not a promise of a fixed value. USDx may trade below its target, its backing may decline in value, and sUSDx rewards are discretionary, variable and not guaranteed. **Liquidity and redemption.** There may be limited or no liquidity to buy or sell USDx or sUSDx when you wish to, and no guaranteed price or depth on any market. Primary-market minting and redemption are available only to approved counterparties, and secondary-market and unstaking exits depend on available liquidity, capacity, servicing and prevailing market conditions. Redemptions may be delayed, queued, throttled or unavailable. **Market forces.** Prices, funding rates, spreads and trading opportunities are driven by market forces outside the Company's control. Volatility, dislocation, correlation breakdowns and adverse moves can reduce or reverse expected returns and can impair the value of the backing. A market-neutral or delta-neutral posture reduces a defined directional exposure at a point in time; it does not eliminate risk. **Financial crime.** Digital Assets can be associated with fraud, theft, scams, market manipulation, money laundering and other financial crime. Compliance, screening and address-restriction controls may be applied, and access may be restricted, suspended or reversed as a result. You are responsible for complying with all laws applicable to you. **Absence of control.** You may have little or no control over, and no recourse in respect of, elements of the system on which the Protocol depends, including centralised venues, custodians, counterparties, operators and third-party infrastructure. Privileged roles can restrict addresses, change supported assets, custodians and settlement routes, adjust capacity and cooldown parameters, and pause minting and redemption, which creates administrative and censorship risk. **Third-party risk.** The Platform relies on third parties, including trading venues, custodians, counterparties, wallet and infrastructure providers, auditors and attestation providers, whose failure, insolvency, misconduct, error or withdrawal of service could result in loss. Third-party services are outside the Company's control and are not guaranteed. **Taxation.** You are solely responsible for determining and meeting any tax obligations arising from acquiring, holding, staking, transferring or disposing of USDx, sUSDx or rewards. The tax treatment of Digital Assets is uncertain and varies by jurisdiction. Obtain independent professional advice. ## Acknowledgement By accessing or using the Platform, you acknowledge that: * you have read and understood this Risk Disclosure; * you understand that the use of the Platform, the Axis Protocol and Digital Assets involves financial, technological and regulatory risks; * you have independently assessed whether the Platform and the Services are appropriate for you; and * you accept the risks described in this Risk Disclosure. The information provided in this Risk Disclosure is not a substitute for any professional advice. None of the information provided in this Risk Disclosure constitutes a recommendation that any of our products or services is suitable for any person. You further acknowledge and agree that this Risk Disclosure is neither an offer nor a solicitation to deal in any of our products or services, and you are not relying on any investment, financial, trading advice or recommendation, or any other type of advice or recommendation (whether written or oral) of Axis. --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. 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