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The agreement excludes Uniswap Labs' liability for indirect, punitive, incidental, special, consequential, and exemplary damages, including loss of profits, data, goodwill, and other intangible property, arising from use of or inability to use the Products or any Third-Party Services, including losses resulting from hacking or unauthorized access.
This analysis describes what Uniswap's agreement states, permits, or reserves. It does not constitute a legal determination about enforceability. Regulatory applicability and practical outcomes may vary by jurisdiction, enforcement context, and individual circumstances. Read our methodology
This limitation of liability provision excludes categories of damages that may be most relevant to losses experienced in digital asset trading contexts, including loss of cryptocurrency, data, and profits; applicable law in certain jurisdictions may limit the enforceability of such exclusions for consumer claims, and the provision's breadth should be evaluated in light of applicable consumer protection statutes.
Interpretive note: The enforceability of these liability exclusions is jurisdiction-dependent and may be limited by applicable consumer protection statutes in the EU, UK, California, and other jurisdictions.
The updated terms establish new contractual representations that users must make when agreeing to the agreement. Users now represent that they are not subject to economic or trade sanctions administered by any governmental authority, including OFAC lists, and that they are not citizens or residents of sanctioned jurisdictions. Users also represent that their access and use will comply with all applicable laws and will not be used to conduct or facilitate illegal activity. These representations are legally binding attestations that may be verified. Users in OFAC-sanctioned countries cannot truthfully make these representations and would be unable to use the platform.
View change record →The updated terms establish new restrictions on user conduct and add affirmative representations regarding asset eligibility. Users trading tokenized real-world assets (such as tokenized stocks, ETFs, or commodities) must now represent that they have reviewed issuer information and comply with any restrictions on trading or holding those assets. The terms also explicitly prohibit circumventing access restrictions, including geographic blocks and transfer limitations imposed by token issuers. By continuing to use the platform, users affirm they are legally eligible to trade tokens under their jurisdiction's laws.
View change record →The updated terms establish that Uniswap does not warrant that any digital asset accessible through its products is available for trading, holding, or transacting in your jurisdiction, or that you are legally permitted to do so. The revised language places the burden on you to determine whether a digital asset is lawfully available to you and to comply with any applicable transfer restrictions imposed by asset issuers or regulatory authorities. This means accessing or trading an asset through the Uniswap interface does not constitute Uniswap's determination that you are eligible to do so under your local laws.
View change record →Under this clause, users cannot recover indirect, consequential, or punitive damages from Uniswap Labs for losses arising from use of the Products, including losses resulting from hacking, tampering, or platform unavailability, even where Uniswap Labs had prior knowledge of the risk. The agreement also states that Uniswap Labs does not provide refunds for purchases made through the Products.
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"UNDER NO CIRCUMSTANCES SHALL WE, ANY UNISWAP PARTIES, OR ANY THIRD-PARTY SERVICES BE LIABLE TO YOU FOR ANY INDIRECT, PUNITIVE, INCIDENTAL, SPECIAL, CONSEQUENTIAL, OR EXEMPLARY DAMAGES, INCLUDING, BUT NOT LIMITED TO, DAMAGES FOR LOSS OF PROFITS, GOODWILL, USE, DATA, OR OTHER INTANGIBLE PROPERTY, ARISING OUT OF OR RELATING TO ANY ACCESS OR USE OF OR INABILITY TO ACCESS OR USE ANY OF THE PRODUCTS OR ANY THIRD-PARTY SERVICES, NOR WILL WE BE RESPONSIBLE FOR ANY DAMAGE, LOSS, OR INJURY RESULTING FROM HACKING, TAMPERING, OR OTHER UNAUTHORIZED ACCESS OR USE OF ANY OF THE PRODUCTS, THIRD-PARTY SERVICES OR THE INFORMATION CONTAINED WITHIN IT, WHETHER SUCH DAMAGES ARE BASED IN CONTRACT, TORT, NEGLIGENCE, STRICT LIABILITY, OR OTHERWISE, ARISING OUT OF OR IN CONNECTION WITH AUTHORIZED OR UNAUTHORIZED USE OF ANY OF THE PRODUCTS OR ANY THIRD-PARTY SERVICES, EVEN IF AN AUTHORIZED REPRESENTATIVE OF UNISWAP LABS HAS BEEN ADVISED OF OR KNEW OR SHOULD HAVE KNOWN OF THE POSSIBILITY OF SUCH DAMAGES.Excerpt from Uniswap's Terms of Service
REGULATORY LANDSCAPE: Limitations of liability in consumer-facing digital service agreements are subject to scrutiny under state consumer protection statutes, including California's Consumers Legal Remedies Act, and under EU consumer protection directives. The FTC Act's prohibition on unfair or deceptive practices may engage provisions that effectively preclude recovery for foreseeable harms. The no-refund policy stated in the limitation of liability section may interact with applicable consumer protection requirements in certain jurisdictions. GOVERNANCE EXPOSURE: Medium. The exclusion of liability for hacking and unauthorized access is operationally significant in the digital asset context given the documented prevalence of smart contract exploits and interface compromises in the sector. The 'even if advised' standard for consequential damages exclusion is broadly drafted. JURISDICTION FLAGS: EU users have statutory consumer rights that may limit the enforceability of broad liability exclusions under the Unfair Contract Terms Directive and applicable national implementing legislation. California residents may have statutory rights under the CLRA and UCL that interact with the no-refund and no-consequential-damages provisions. UK consumer rights legislation similarly constrains liability exclusions in consumer contracts. CONTRACT AND VENDOR IMPLICATIONS: Enterprise users should assess whether the limitation of liability is compatible with their own contractual requirements for service providers, particularly regarding security incident liability. The absence of a stated aggregate liability cap in the document excerpt provided leaves the maximum exposure in specified circumstances undefined, which warrants review of the full agreement. COMPLIANCE CONSIDERATIONS: Legal teams should evaluate whether the limitation of liability is enforceable in the jurisdictions where the Products are offered to consumers, and whether the no-refund policy is consistent with applicable consumer protection requirements in those jurisdictions.
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This limitation of liability provision excludes categories of damages that may be most relevant to losses experienced in digital asset trading contexts, including loss of cryptocurrency, data, and profits; applicable law in certain jurisdictions may limit the enforceability of such exclusions for consumer claims, and the provision's breadth should be evaluated in light of applicable consumer protection statutes.
Under this clause, users cannot recover indirect, consequential, or punitive damages from Uniswap Labs for losses arising from use of the Products, including losses resulting from hacking, tampering, or platform unavailability, even where Uniswap Labs had prior knowledge of the risk. The agreement also states that Uniswap Labs does not provide refunds for purchases made through the Products.
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