This summary is intended to share some important details about changes we have made to the Terms of Use related to ConsenSys offerings effective August 1, 2022. Anyone who uses ConsenSys software products or services such as MetaMask or Infura can only do so if they agree with these terms, so it is important that you review them in their entirety. Some of the updates are intended to better inform users about risks associated with blockchain technology and digital assets, and others seek to make it clearer what obligations users are taking on or rights they may be waiving when accessing our offerings. Most of the changes are intended to make the Terms of Use more easily understood while not materially changing the meaning of the provisions.
Section 2 has been updated to reflect that we will take commercially reasonable efforts to update you of any changes to or discontinuation of any of our offerings or to the Terms of Use. That could include using our website or other public communication channels to inform you about changes.
Section 3 has been updated to underscore that you are responsible for all activities that occur through your use of our offerings that do not require you to create an account with us. This includes responsibility for any unauthorized access that may be the result of fraud, phishing, or other illicit activity perpetrated by third parties. You understand that it is up to you to be vigilant and protect yourself when using our offerings, and that you yourself will not use any of the offerings to violate the law.
Section 3 has also been updated to make it crystal clear that you are solely responsible for configuring and using those offerings that do not require you to create an account with us, such as MetaMask. You must record and keep secret any password or secret recovery phrase (also known as a “seed” phrase) that relates to your use. You understand that we do not record or keep a copy of any passwords or secret recovery phrases, nor are you to share your passwords or secret recovery phrases with anyone, including us. If you share your password or secret recovery phrase with anyone, or fail to write it down, retain it, or keep it secure, we do not have any responsibility for what might result. These things are very important to remember, especially for MetaMask users.
Section 4 goes into further detail about fees that you may be charged in exchange for a license to use one of our offerings. For instance, if you use an offering that does not require an account with us and also does not require you to agree to a plan, then the fees will be charged as described in the user interface of the offering, or on our website. You should know that some fees are a combination of a fee that we charge and a fee charged by a third party provider. Those instances generally involve the functionality that you are using in the offering being supported or enhanced in some respect by a product or service provided by that third party. Rather than you having to pay two fees, we combine them and show you what the total is. We also explain that we will use commercially reasonable efforts to notify you if our fees change.
Section 6 has been updated to make it easier to understand what parts of our agreement will still apply even if you stop using our offerings or our agreement otherwise terminates. In short, any part of our agreement that protects you or us even after you stop using our offerings will continue to be enforceable. That means if a dispute ever arose, the provisions of the Terms of Use would generally still be in effect even though you may have stopped using our offerings.
Section 8 has been updated to limit the total amount we would be required to spend to indemnify you against intellectual property claims brought by third parties. We would be required to spend no more than $200,000 in total.
Section 9 adds disclosures and warnings about risks that are inherent with emerging technologies like Ethereum. It makes clear that, by using our offerings, you are representing that you are financially and technically sophisticated enough to understand the risks and to understand generally how to use the offerings. It further makes clear that we do not operate any blockchain protocol or approve or otherwise facilitate your transactions on your behalf. It underscores that we do not have access to nor do we backup any of your data or passwords, and that we will be unable to recover any passwords or secret recovery phrases for which you are solely responsible. This section is also updated to reflect your explicit understanding that digital assets present a number of risks, and that you alone are responsible for on-chain transactions in which you engage, and which counterparties or smart contracts you interact with. Moreover, it notes how the Ethereum network’s migration from proof-of-work to proof-of-stake consensus changes some technical requirements and introduces some additional risks, and that users of our offerings are responsible for ensuring their use is consistent with those requirements and are otherwise accepting of these risks.
Section 12 has been updated to reflect that a Decentralized Autonomous Organization (DAO) may use our offerings, and that to the extent one does, that DAO has acknowledged and agreed to the Terms of Use in their entirety.
Thank you for reviewing these changes. We nonetheless respectfully point out that you are responsible for reviewing the new Terms of Use in their entirety, and we strongly encourage you to do so.
