Last updated: April 12, 2021
Welcome to Polkaswap!
To make these terms easier to read:
IMPORTANT NOTE REGARDING ARBITRATION: WHEN YOU AGREE TO THIS TERMS BY USING OR ACCESSING THE APP/SITE/SERVICES, YOU ARE AGREEING TO RESOLVE ANY DISPUTE BETWEEN YOU AND THE POLKASWAP COMMUNITY THROUGH BINDING, INDIVIDUAL ARBITRATION, RATHER THAN IN COURT. PLEASE REVIEW SECTION 15 BELOW FOR DETAILS REGARDING ARBITRATION.
If you come up with any questions, please don't hesitate to contact us at: https://t.me/polkaswap.
Polkaswap is a decentralized project that has no central authority. It is run as a Decentralized Autonomous Organization, or DAO. The reason for this is that Polkaswap was created by the community and exists for the community. Governance is based on voting and no software can be released or use without being deployed and enabled by the community by voting.
The PSWAP Token is a token for rewarding liquidity providers on the Polkaswap. It was not created by any company or individual, but rather was proposed by the community and the software to create the PSWAP Token was deployed and enabled by the community, without the decision making of individual developers or contributors to the Polkaswap source code. The Company or other companies or individuals who contributed to Polkaswap were in no way involved in the deployment or initialization of the PSWAP token.
The Polkaswap exists on the SORA network. The SORA network is a decentralized blockchain network running Parity Substrate software. Decentralized applications on the SORA network, like the Polkaswap, are developed using Substrate Pallets, which requires that to release or update the software, a runtime upgrade of the Pallet has to be proposed and voted on by the network's users. Token voting using the SORA XOR token is used to vote to either accept or reject all Pallet releases and updates. Without this voting and acceptance by the community, the software cannot be used.