Common use of Valuation and Liquidity Clause in Contracts

Valuation and Liquidity. Cryptocurrencies can be traded through privately negotiated transactions and through numerous cryptocurrency exchanges and intermediaries around the world, each with its own pricing mechanism and/or order book. The lack of a centralized pricing source poses a variety of valuation challenges. In addition, the dispersed liquidity may pose challenges for market participants trying to exit a position, particularly during periods of stress. Such characteristics of the cryptocurrency markets may result in canceled or partially filled cryptocurrency Orders. ZHLS, at its sole discretion, may add a spread (i.e., a price premium) to each Cryptocurrency Transaction executed by you on the Platform or through the Zero Hash System and the execution price is not meant to imply the “market price.”

Valuation and Liquidity. Cryptocurrencies can be traded through privately negotiated transactions and through numerous cryptocurrency exchanges and intermediaries around the world, each with its own pricing mechanism and/or order book. The lack of a centralized pricing source poses a variety of valuation challenges. In addition, the dispersed liquidity may pose challenges for market participants trying to exit a position, particularly during periods of stress. Such characteristics of the cryptocurrency markets may result in canceled or partially filled cryptocurrency Cryptocurrency Orders. ZHLSZero Hash Liquidity Services, at its sole discretion, may add a spread (i.e., a price premium) to each Cryptocurrency Transaction transaction executed by you on the Platform or through the Zero Hash System and the execution executed price is not meant to imply the “market price.”

Valuation and Liquidity. Cryptocurrencies can be traded through privately negotiated transactions and through numerous cryptocurrency exchanges and intermediaries around the world, each with its own pricing mechanism and/or order book. The lack of a centralized pricing source poses a variety of valuation challenges. In addition, the dispersed liquidity may pose challenges for market participants trying to exit a position, particularly during periods of stress. Such characteristics of the cryptocurrency markets may result in canceled or partially filled cryptocurrency OrdersCryptocurrency Transactions. ZHLSZero Hash Liquidity Services, at its sole discretion, may add a spread (i.e., a price premium) to each Cryptocurrency Transaction transaction executed by you on the Platform or through the Zero Hash System and the execution executed price is not meant to imply the “market price.”