Risk Disclosure

This Risk Disclosure describes the main risks of using digital assets and of holding an Assurance Policy Contract (a Policy) with Engagex Global LLC (ENGAGEX). It does not list every risk. You can lose some or all of your funds when you use digital assets.

Read this together with the Terms of Service and the Assurance Policy Wording. Only those documents decide what your rights are.

ENGAGEX is not holding itself out as a licensed insurance carrier. A Policy is an assurance contract between you and Engagex Global LLC. It is not offered as a policy of insurance issued by a licensed insurance carrier.

You should not assume that any insurance regulator, ombudsman, guarantee fund, deposit protection scheme or other compensation scheme applies to a Policy.

A Policy is a contract between you and Engagex Global LLC, recorded on-chain by the ENGAGEX Assurance smart contract on BNB Smart Chain, with its legal terms set out in these published documents. The smart contract records Policies. It does not pay claims, so a Benefit is not paid automatically by code. It depends on ENGAGEX verifying a claim off-chain and performing its contract.

Claims are paid only after verification. Engagex Global LLC reviews each claim to verify that it is genuine. Unverified, false or unsupported claims are not paid, and a loss that is excluded or falls outside the Covered Events is not paid. Within 30 days of a claim being submitted, we tell you the outcome of our review or any issues found. Payment itself follows only once the claim is verified and KYC and wallet checks are passed.

Any Benefit also depends on the company’s ability to pay it.

ENGAGEX makes no statement in these documents that its Policies are backed by reserves, reinsurance, a third party guarantee or any audit, and you should not assume that they are. If the company could not meet its obligations, you might not receive some or all of a Benefit.

A Policy does not cover every loss. It applies only to defined Covered Events involving Supported Partners, and only where the Interaction and the Incident happened after your Policy became active and the partner was listed. A Policy becomes active for claims only once your KYC is approved, so a loss before that is not covered. Many common losses are excluded, including those from unsupported dapps, voluntary transfers, market movement and poor key security.

The Benefit is capped at your Assured Amount, for all claims in aggregate. If your loss is greater than that, you bear the difference.

A Policy is valid for 365 days (one year) from purchase, and a claim must be submitted within that period to be eligible. The Policy Period does not extend if your KYC is approved late. You can also lose your right to a payout if you do not cooperate with the verification of your claim.

A Policy does not prevent a hack, a rug or a compromise. It offers only a contractual payout after the event, once the claim is verified and the Policy terms are met.

The supported partner list can change. A partner you used before may be removed, and later Interactions with it will not qualify. You must check the list in the Dashboard.

Listing a partner is not an endorsement, an audit or a statement that it is safe. Supported Partners can fail.

Smart contracts can contain bugs and vulnerabilities, even when the code has been reviewed or has run without problems for a long time. Contracts may be upgraded or paused by people with admin rights. Exploits can drain funds in seconds, and transactions usually cannot be reversed.

The ENGAGEX Assurance smart contract carries the same risks. It may contain bugs or vulnerabilities that could let funds be taken, or stop it from recording a Policy correctly. ENGAGEX makes no claim that the contract has been audited, and you should not assume that it has. The contract owner can cancel a Policy on-chain, and the start and end time stored in the contract are the authoritative record of validity, so an error or a dispute about those records could affect your Policy.

The premiums you pay stay in the contract until the contract owner or an authorised fund manager moves them. They are not held in trust and are not segregated. The owner key controls those funds, and if it were lost, stolen or misused, premium funds could be lost or moved without your consent.

Protocols depend on other systems, such as oracles, bridges, liquidity pools and other protocols, and a failure in one can spread to others. Protocol operators can act dishonestly, abandon a project or disappear.

Whoever holds your private keys or seed phrase controls your funds. If they are lost or stolen, your funds can be lost permanently. ENGAGEX cannot reset, recover or reverse anything in your wallet.

Phishing, fake sites, malicious approvals, malware and impersonation are common. A single signature can give someone access to your tokens. Always read what you are signing.

The price of digital assets can change sharply, can fall to zero and may be affected by low liquidity or manipulation. A Policy does not protect you against a fall in price.

The value of a loss is worked out using a reasonable market price immediately before the Incident, and it may differ from what you paid or from what the asset is worth later.

Premiums and Benefits are paid in USDT, a stablecoin issued by a third party, and the Premium is paid as BEP-20 USDT on BNB Smart Chain. Stablecoins can lose their peg, be frozen by their issuer, or become hard to redeem. ENGAGEX does not control USDT. You pay network gas in BNB, and fees can change or a transaction can fail. BNB Smart Chain is a third-party network that can suffer congestion, outages, reorganisations or attacks.

Payments on a blockchain are final. If you send funds to the wrong address, in the wrong asset or on the wrong network, they may be lost. Only a successful takePolicy transaction from your wallet to the contract creates a Policy. Always check the details in your wallet before you confirm.

Blockchain networks can suffer congestion, outages, forks, high fees or attacks. These could delay or prevent a transaction, including a Premium or Benefit payment.

The Service relies on third parties for hosting, storage, databases and wallet connection. If any of these fails, you may be unable to use the Dashboard for a period of time. You remain responsible for submitting your claim within the Policy Period, and you should contact us by email if you cannot access the Dashboard.

The law on digital assets, and on products such as assurance contracts, is changing and differs from place to place. A Policy may not be available where you live, and availability may be limited where local law requires a licence. A change in law could require ENGAGEX to change, suspend or withdraw the Service.

It is your responsibility to check whether you can lawfully use the Service where you are.

Sanctions law may prevent us from paying you, even if your claim is verified.

Disputes are decided by binding arbitration in line with Wyoming law, on an individual basis, and you give up the right to a court trial and to class proceedings. This may be less convenient or more costly than local options.

Premiums, Benefits and digital asset transactions may have tax consequences. These depend on your circumstances and where you live. ENGAGEX does not give tax advice, and it is your responsibility to report and pay any tax due.

KYC requires you to share sensitive data, including identity documents, a live selfie and your precise location. We take steps to protect it, as described in the Privacy Policy, but no system is completely secure.

Wallet addresses and transactions on BNB Smart Chain are public and permanent. Your wallet address, amounts and dates can be seen by anyone, could be linked to you, and cannot be deleted.

ENGAGEX does not give financial, investment, legal or tax advice. Nothing in the Service tells you that a particular asset, protocol, partner or Assured Amount is right for you. Take independent advice if you are not sure.

By using the Service and submitting a takePolicy transaction, you confirm that you have read and understood this disclosure, that you accept these risks, and that you can afford to lose the funds you use with digital assets.

If you have any questions, contact support@engagex.life or write to Engagex Global LLC, 1309 Coffeen Avenue, Wyoming 82801, USA before buying a Policy.