When you hold crypto-assets, sometimes changes happen to the technology behind them that can affect your rights or the assets themselves. Here is a simple guide to some common events that may affect your rights in crypto-assets.
- Forks
A fork is a sudden change in how a cryptoasset works. A fork may seriously change the function, value or even the name of a cryptoasset. A fork can also affect the exchange rate of your cryptoasset.
2. Airdrops
A cryptoasset airdrop is the practice of sending bonus cryptoasset to existing users in order to promote awareness of the currency in question. This could affect the price or value of the cryptoasset. An airdrop can also affect the exchange rate.
3. Protocol Upgrades
These are improvements or changes made to the rules of how a crypto-asset works. Upgrades can add new features or fix problems, and sometimes they change the rights or balances you have. Some upgrades might create new tokens or change how existing ones work.
4. Other Changes to the Technology
Crypto technology is always evolving. Sometimes unexpected events or new features may change what your crypto-assets represent or your rights attached to them. This can include changes in how transactions are processed, new types of rights, or adjustments to the network’s governance.
What This Means for You
If any of these events happen, you might be entitled to receive new crypto-assets or rights. However, not all service providers support or process these new assets or rights automatically.
By checking this box, you acknowledge and agree to the following:
- You understand that, under the Markets in Crypto-Assets Regulation (MiCA), crypto-asset service providers are generally required to facilitate the exercise of rights attached to crypto-assets held in custody on your behalf, including rights arising from events such as forks, airdrops, protocol upgrades, or other changes to the underlying distributed ledger technology or any other event likely to create or modify such rights.
- You expressly waive your right to receive or claim any newly created crypto-assets or rights that may arise from such events.
- You acknowledge that Revolut Digital Assets Europe Ltd shall have no obligation to support, credit, distribute or facilitate the exercise of any such crypto-assets or rights resulting from changes to the distributed ledger technology or similar events.