Index Products — Legal Disclaimer

Overview

General Market Index is a decentralized protocol operated by IM Standards LLC for creating and trading on-chain index tracking products (ITPs). ITPs are tokenized baskets of crypto assets that function similarly to ETFs but are entirely on-chain. This page sets out the legal basis for the protocol, the nature of ITPs, and your rights and obligations as a user.

Nature of Index Tracking Products

ITPs are experimental, unregistered, on-chain financial instruments. They are not equivalent to, and should not be confused with, traditional financial products:

• ITPs are not securities — they are not registered with the SEC, CFTC, or any other regulatory body. No filing, prospectus, or offering document has been prepared or submitted. There is no central party whose efforts drive returns.
• ITPs are not investment contracts — there is no expectation of profit derived from the managerial efforts of IM Standards LLC or any third party. ITPs track a fixed basket of assets with quantities locked at creation; NAV floats purely with market prices. No one manages, rebalances, or makes investment decisions on your behalf.
• ITPs are not funds — IM Standards LLC does not manage assets, allocate capital, or exercise discretion over any ITP. There is no fund manager, investment advisor, portfolio manager, or fiduciary relationship. Users create their own compositions and bear full responsibility for their asset selection.
• ITPs are experimental software — the protocol is deployed on immutable smart contracts. Bugs cannot be patched after deployment.
• Price feeds are submitted by a decentralized network of independent issuers, selected through a Goldilocks consensus mechanism and verified via BLS aggregate signatures. IM Standards LLC does not submit prices, select issuers, or control the consensus process. This further decouples the protocol from any single operator's efforts.

Protocol Architecture

General Market Index operates as an autonomous, non-custodial protocol on the Index L3 chain (Arbitrum Orbit):

• Non-custodial — IM Standards LLC does not custody, hold, or control user funds. Your assets remain in smart contracts that you interact with directly through your wallet.
• Immutable contracts — core logic is deployed to immutable smart contracts. IM Standards LLC cannot unilaterally alter, freeze, or reverse transactions after deployment.
• Fully transparent — all ITP compositions, NAV calculations, trades, and settlement are verifiable on-chain by any party.

NAV & Pricing

ITP prices are determined by Net Asset Value (NAV), calculated as the sum of (quantity per share × current price) for each underlying asset. Prices are sourced from CoinGecko and submitted by BLS-verified independent issuers. IM Standards LLC does not set, manipulate, or guarantee ITP prices. NAV may diverge from true market value due to price feed latency, source outages, or low liquidity in underlying assets.

Risk Warning

• Smart contract risk — contracts are immutable and may contain undiscovered bugs, vulnerabilities, or economic exploits
• Price risk — underlying assets are volatile cryptocurrencies; NAV can drop rapidly and without warning
• Oracle risk — price data depends on CoinGecko feeds and the issuer network; inaccurate or delayed data may cause incorrect NAV calculation
• Liquidity risk — you may be unable to buy or sell ITP shares at the desired price if there are insufficient counterparties
• Regulatory risk — on-chain index products may be subject to evolving regulations in your jurisdiction

No Financial or Legal Advice

Nothing on General Market constitutes financial, investment, legal, or tax advice. IM Standards LLC does not recommend any specific ITP, asset allocation, or trading strategy. You are solely responsible for evaluating the merits and risks of any transaction.

Your Responsibilities

• You control your private keys — IM Standards LLC cannot recover lost keys or reverse transactions
• You are solely responsible for your trading and investment decisions
• You must comply with all applicable laws and regulations in your jurisdiction
• You are responsible for all tax obligations arising from your use of the protocol
• You must conduct your own research and due diligence before creating or trading any ITP

Disclaimer of Warranties

General Market Index is provided "AS IS" and "AS AVAILABLE" without warranties of any kind, whether express, implied, or statutory, including but not limited to implied warranties of merchantability, fitness for a particular purpose, title, and non-infringement. IM Standards LLC does not warrant that the protocol will be uninterrupted, error-free, secure, or free from bugs, viruses, or other harmful components.

Limitation of Liability

To the maximum extent permitted by applicable law, IM Standards LLC, its officers, directors, members, employees, agents, and affiliates shall not be liable for any indirect, incidental, special, consequential, or punitive damages, or any loss of profits, revenue, data, or use, arising out of or related to your use of General Market Index, regardless of the theory of liability. Total aggregate liability shall not exceed the lesser of (a) the amounts you deposited to the protocol in the 12 months preceding the claim, or (b) $100 USD.

Indemnification

You agree to indemnify, defend, and hold harmless IM Standards LLC and its officers, directors, members, employees, agents, and affiliates from any claims, damages, losses, liabilities, and expenses (including reasonable legal fees) arising out of or related to your use of General Market Index, your violation of these terms, or your violation of any law or third-party rights.

Governing Law

These terms are governed by and construed in accordance with the laws of the jurisdiction in which IM Standards LLC is organized, without regard to conflict of law principles. Any disputes arising from these terms shall be resolved through binding arbitration.

Contact

Questions about this legal disclaimer? Reach out on X: @otc_max