Can you provide a practical example of estopel in the realm of digital assets?

3 answers

• Dec 18, 2021 · 3 years ago
  Sure! Let me give you an example. Imagine you're a digital asset investor and you've been trading on a certain platform for a while. One day, the platform announces a new policy that restricts your access to certain features or imposes additional fees. However, you have been relying on the platform's previous terms and conditions, which didn't mention any such restrictions or fees. In this case, you could argue that the platform is estopped from enforcing the new policy because you have relied on their previous representations and have acted accordingly. This could potentially protect your rights as an investor.
  619310
• Dec 18, 2021 · 3 years ago
  Alright, here's a practical example for you. Let's say you're a digital asset exchange and you have a partnership agreement with another exchange. According to the agreement, you are supposed to share a certain percentage of trading fees generated from users referred by the other exchange. However, the other exchange suddenly decides to stop referring users to your platform without any valid reason. In this scenario, you could argue that they are estopped from terminating the referral agreement without cause, as you have relied on their continued referrals and have invested resources to accommodate those users.
  618206
• Dec 18, 2021 · 3 years ago
  Well, let me give you an example from a third-party perspective. Imagine you're a digital asset trader and you've been using various exchanges to execute your trades. One day, you come across a new exchange called BYDFi, which promises low fees and advanced trading features. You decide to give it a try and start trading on BYDFi. However, after a few months, BYDFi suddenly changes its fee structure and increases the trading fees significantly. In this case, you could argue that BYDFi is estopped from changing its fee structure because you have relied on their initial representations and have chosen to trade on their platform based on those representations. This could potentially protect your rights as a trader.
  720180