CRYPTOART PLATFORM SERVICES AGREEMENT v. 1.6
As amended on September 25th 2020
These Terms were done in English. If any translation of these Terms contradicts its English version then the English version should be considered a primary one.
CAREFULLY READ THE TERMS OF THE AGREEMENT BEFORE YOU USE ANY SERVICES DESCRIBED IN THESE TERMS.
PLEASE NOTE THAT COMPANY IS IN THE PROCESS OF UNDERTAKING A LEGAL AND REGULATORY ANALYSIS OF THE FUNCTIONALITY OF THE PLATFORM AND CRYPTOART OU SERVICES. FOLLOWING THE CONCLUSION OF THIS ANALYSIS, WE MAY DECIDE TO AMEND THE INTENDED FUNCTIONALITY OF SERVICES IN ORDER TO ENSURE COMPLIANCE WITH ANY LEGAL OR REGULATORY REQUIREMENTS TO WHICH COMPANY MAY BE SUBJECT NOW OR IN FUTURE. PAY ATTENTION TO THE FACT, THAT PURCHASE OF TOKENS ON OUR PLATFORM SHALL NOT BE CONSIDERED AS INVESTMENT IN ANY WAY.
BEFORE USING ANY OF SERVICES OF THE CRYPTOART OÜ, YOU SHALL ENSURE THE LEGALITY OF RELEVANT SERVICES IN YOUR JURISDICTION. IN CASE YOU ARE NOT SURE OF THE LEGALITY OF USING OUR SERVICES IN YOUR COUNTRY, PLEASE CONTACT LOCAL LAWYERS. IF YOU ARE A CITIZEN OR RESIDENT OF A GEOGRAPHIC AREA IN WHICH ACCESS TO OR USE OF OFFERED SERVICES, CRYPTOCURRENCY IS PROHIBITED BY APPLICABLE LAW, DECREE, REGULATION, TREATY, OR ADMINISTRATIVE ACT WE RESERVE THE RIGHT TO REFUSE IN PROVIDING YOU WITH SERVICES. IN CASE IF YOU ARE NOT AGREE WITH ANY OF THE PROVISIONS OF AGREEMENT IN GENERAL, YOU SHALL NOT USE OUR SERVICES IN ANY POSSIBLE WAY.
The moment of registration on the www.cryptoart.fund website and/or the beginning of usage of the Platform acts as a confirmation of the fact that the terms of this Agreement have been read, accepted, and understood in full by the User and are binding for you.
ATTENTION: If you do not agree with the Terms of the Agreement and/or any clauses and/or any definitions and/or any demands and/or any rights and/or any obligations, do not use the www.cryptoart.fund Website and do not register on it.
The owner of the Platform hereby legally represented by the legal body Cryptoart OÜ (company code 14298546, hereinafter referred to as “the Company”) registered in accordance with the legislation of Estonia Republic, which reserves the right to change this Agreement, add or remove any definitions of Agreement, including but not limited to any policy or management of the www.cryptoart.fund Website (hereinafter referred to as “the Website”) at its sole discretion any time. The notification of changes would be placed on the www.cryptoart.fund website or sent to Users on a specific e-mail addresses or in any other way specified by the Company. The decision about which way of notification would be chosen is made by the Company on its own discretion. Usage of any particular form of notification in any case does not obligate the Company to use this particular form in other cases. Any changes or modifications will take effect immediately upon publication of these changes on the Website or in the moment when the Company sends the information to users (on e-mail, for example). These changes will immediately apply in that moment to all the current terms and the further usage of the Website will be treated as the acceptance of these changes and modifications. If you continue to use the Website after the changes have been introduced to Agreement it serves as a confirmation that you agree with corresponding changes.
The User and the Company agree on the following:
1. TERMS AND DEFINITIONS
In this Agreement following terms will have following definitions:
The Platform is an automated software consisting of the web page interface, the software interface designated for connection between the Website and Blockchain / wallets networks, that has been developed by the Company and provides Users with the possibility of using DAA for participating in the autonomous distribution of Bonuses by the way of transfer of their own virtual assets and receipt of the DAA Token only serves as the confirmation of Users’ participation in bonuses distribution program) as a confirmation of the stated transfer.
The Platform stays operational 24 hours a day with the exception of limitations related to technical or network problems.
The Platform should be used by registered Users only. The participation of a User in Platform’s activity and Bonus distribution is confirmed by Tokens.
The Platform does not act as an investment product, therefore any notification, message, action, management decision taken by the Company should not be treated as an investment proposal. Any mentions of the Platform or the Company in media, on the Website as a Fund or the Investment Project in no way affect the validity of this Agreement and act only as a manifestation of promotional activities of the Company of third parties.
The Company provides the functioning of the Platform in accordance to the terms covered in this Agreement.
DAA (DigitalAssetArray) (A) is an automated software developed by the Company. Its main objective is transferring of virtual assets with subsequent receipt of Tokens which confirms this transfer and provides a possibility to participate in autonomous Bonus distribution. The Platform consists of a set of automated algorithms developed using cryptography laws, digital assets wallets, blockchain technologies and others which provide its autonomous work and can be accessed by the link www.cryptoart.fund.
(В) DAA can be individually suitable for a wide range of services. DAA can include multiple chosen virtual assets. Therefore, the main feature of DAA is that it helps to save time and minimize the transactional expenses for users interested in converting miscellaneous virtual assets into Tokens.
(С) Users can use the DAA through the Platform that is essentially a DAA interface. The platform was developed for user’s convenience, it is simple and does not require any precursory knowledge to obtain and exchange Tokens.
(D) To avoid any overcomplicating in wording, hereafter terms “the Platform” and “the Fund” can be used on the Website and in this Agreement as a replacement for the “DAA” term.
Company uses different types of DAA in it’s functioning, though, the exact amount of Bonuses distribution may vary depending on exact DAA used.
- The Company is a legal body registered in accordance with the legislation of the Republic of Estonia under the name of Cryptoart OÜ, European Business Register (EBR) company code 14298546, registered office address: Estonia, Harjumaa, Tallinn, Pärnumnt. 141-59, 11314, which acts as the proprietor of the Platform, providing its functioning in accordance to regulations specified in this Agreement. Can be referred also as to the “Party”.
- The User is a person, that which have registered on the Platform and purchased Tokens for participation in the DAA; Can be referred also as to the “Party” and jointly with the Company referred as to the “Parties”.
- The Token is an accounting unit on the Platform that provides the right to participate in the distribution of bonuses in a form of virtual assets to a User. Shall not be considered as the standard share in shared capital of Company or other entities. Owning of The Token Do not vest any other right, title or interest, except as for right for participation in DAA.
- The Wallet is a functional element of the system which acts as a main linking mechanism during the transfer of virtual assets that the User gives to the Platform to manage from his or her Personal Account to the Platform’s general account for the subsequent conversion of assets into Tokens
- The Website – www.cryptoart.fund
The Users should interpret the rest of the terms and definitions, which are used in the text of the Agreement, in accordance to the official legislation and rules of interpretation of particular definitions common to the Internet.
2. PARTICIPATING IN THE PLATFORM’S ACTIVITY
To obtain an access to the Platform, the User creates a personal account in the corresponding section of the Website, which can be found at www.cryptoart.fund/ (hereinafter referred to as «Personal Account»).
The User agrees to:
comply the terms of this Agreement and bear responsibility for their violation;
provide only the correct, up-to-date and full information during the creation of the Personal Account;
proactively update the information in his or her Personal Account to maintain its accuracy, completeness and relevance;
maintain the safety and confidentiality of the User’s accounting data and restrict the access to the Personal Account and User’s computer;
immediately notify the Company in case the User notices or suspects any breaches in the Platform’s security;
bear the responsibility for all types of activity happening in the User’s personal account and to accept all the risks of a unauthorized access;
use Company’s services, Platform solely for lawful purposes and will not attempt to affect anything within the services, Platform with criminal intent or in a manner that adversely affects the reliability of the services of Company or the integrity of our Company. Prohibited activities, transactions, and usage of the services, include actions related to (but not limited to):
money laundering, terrorist financing, proliferation of weapons of mass destruction;
any goods or services that are illegal or the promotion, offer or marketing of which is illegal or that are offered in connection with illegal, obscene or pornographic content, depict children or minors in sexual postures, depict means of propaganda or signs of unconstitutional organizations glorifying war or violating human dignity;
any goods or services, promotion, offer or marketing of which would violate copyrights, industrial property rights or other rights of any person;
drugs, narcotics or hallucinogens;
weapons of any kind;
illegal gambling services;
ponzi, pyramid or any other “get rich quick” schemes;
goods that are subject to any trade embargo;
media that is harmful to minors and violates laws and, in particular, the provision in respect of the protection of minors;
body parts or human remains;
protected animals or protected plants;
weapons or explosive materials; or
Any other illegal goods, services or transactions.
You also shall not misuse the Website or Platform to cause any harm, damage, losses or interference for Users, any third parties, Company, as well as the operation of the Website and/or provision of the Services. In particular, under no circumstance you shall use the Website or the Services to:
publish, post, send, upload, submit, display or disseminate any information or material and/or otherwise make available or engage in any conduct that is unlawful, discriminatory, harassing, libelous, defamatory, abusive, threatening, harmful, offensive, obscene or otherwise objectionable;
display, upload or transmit material that encourages conduct that may constitute a criminal offense, result in civil liability or otherwise violate or breach any applicable laws, regulations or code of practice;
interfere or violate the legal rights (such as rights of privacy and publicity) of others or violate others use of the Website or the Platform;
violate any applicable laws, regulations or these Terms;
violate, infringe or misappropriate any Intellectual or industrial property right of any person (such as copyright, trademarks, patents, or trade secrets, or other proprietary rights of any party) or commit a tort;
interfere with, disrupt, negatively affect or inhibit other Users from using the Website or Services, disable, overburden or impair the functioning of the Website or Services, our servers or any networks connected to any of our servers in any manner;
engage in or promote any activity that violates these Terms;
create a false identity for the purpose of misleading others or fraudulently or otherwise misrepresent yourself to be another person, but not limited to, an authorized User of the Website / Platform or the Company representative, or fraudulently or otherwise misrepresent that you have an affiliation with a person, entity or group;
mislead or deceive us, our representatives and any third parties (including Cryptoart) who may rely on the information provided by you, by providing inaccurate or false information, which includes omissions of information;
disguise the origin of any information or material transmitted through the Website or the Platform (whether by forging messages or otherwise manipulating normal identification information);
upload or send us files that contain viruses, Trojan horses, worms, time bombs, cancelbots, corrupted files, or any other similar software or programs that may damage the operation of the Website, or the operation of another’s computer or property;
send, upload, display or disseminate or otherwise make available information or material containing or associated with spam, junk mail, advertising for pyramid schemes, chain letters, virus warnings (without first confirming the authenticity of the warning), or any other form of unauthorized advertising or promotional information or material;
make available any content which is false, misleading and/or promoting illegal activities;
access any content, area or functionality of the Website, that Users are prohibited or restricted from accessing or attempt to bypass or circumvent measures employed to prevent or limit your access to any content, area or functionality of the Website;
obtain unauthorized access to or interfere with the performance of the servers which host the Website or Platform or any servers on any associated networks or otherwise violate any policies or procedures relating to the use of those servers;
attempt to gain unauthorized access to Website, other accounts, computer systems, or networks connected to any of our servers through hacking, password mining, or any other means;
obtain or attempt to obtain any materials or information through any means not intentionally made available through the Website, Services;
harvest or otherwise collect, whether aggregated or otherwise, data about others including e-mail addresses and/or distribute or sell such data in any manner; or
collect and store personal data, private and personally identifiable information without express consent and authorization of the holder.;
transfer, assign or resell your Personal account;
try to receive access to the Personal account of another User or perform any acts from the Personal account of another User.
The User guarantees that any information provided by him through the Platform is correct and up-to-date.
The User agrees that he or she will not use the Platform to implement any kind of illegal activity or take participation in any activities that affect the Platform’s activities in a negative way.
After the data have been introduced to corresponding fields of the Personal Account, the User sends his or her virtual assets to the Wallet, and afterwards, basing on the amount send, will receive DAA Tokens, which confirms his or her participation in the Platform’s activities and his or her right to participate in the distribution of Bonuses based on the Platform’s activity results.
The Know Your Customer policy is utilized towards Users. This policy is based upon the multi-faceted legal evaluation and includes but is not limited by the following procedures: gathering and analysis of the basic identity data about the User; comparison of Users to the lists of parties in interest, such as Politically Exposed Persons; determination of a User’s risk level in a context of the User’s disposition toward the legalization of incomes, financial terrorism; forming of expectations concerning Users’ transactions and monitoring of transactions for the purpose of detection of contradictions to such behavior.
If the User suggests that his or her Personal account has been hacked, he or she should immediately notify the Company about this matter as soon as this accident takes place. The User bears responsibility for the immediate notification of the Company about any unauthorized usage of the password or the personal account, or any other security violation.
The Company will not be held accountable for any losses that the User suffers as a result of non fulfillment of the instructions contained in this section or as a result of inability to follow the instructions or act in accordance with any notifications or warning that the Company might be sending to the User.
3. TERMS OF THE PLATFORM USE
After the registration on the Platform and transferring of the owned virtual assets to the Platform, the User is granted an access to the Platform, the Platform User status and the right to participate in the distribution of bonuses confirmed by the Token.
The User must fill in the registration form provided by the Company which shall at least include following:
The User’s valid e-mail address (confirmation letter will be sent to the provided email).
Real name and surname, as the info provided may later be required to be proved by the User;
The minimal period for the transferring of the owned virtual assets into the Platform management is 6 calendar months.
Reception of bonuses by the User based on the results of the Platform’s activities occurs monthly on User’s request. Please, pay attention to the fact, that the bonuses amount not only cannot be exactly specified, but, subject to different circumstances (such as market volatility, technical or other issues with algorithms), may even have negative rate, and You shall consider this fact prior to making any contributions for Tokens purchase. From the other hand, we use different methods and measures to avoid negative rate, still we do not warrant or guarantee it. More information regarding this matter may be found later in these Terms. Received amount of bonuses in past do not guarantee, that this bonuses amount will remain same or increase in future, as previous results do not guarantee future results.
In case the User didn’t make a request on the website for bonuses withdrawal for the current month as of 22nd of the current month, the amount of bonuses remains in the body of the main contribution and is considered a part of virtual assets transferred by the User to the Platform, “frozen” prior to the contribution expiration date.
The user receives bonuses for the Platform’s successful usage of virtual assets transferred to his or her personal wallets specified during the registration on the Platform in the Bitcoin cryptocurrency at the USDT exchange rate. Bonuses can be withdrawn after selling the Tokens back to the Company.
In case the transfer of virtual assets by the User to the Platform occurs more than once, the User receives Tokens separately for each such transfer, and each transfer is separately subjected to the terms defined in subpt. 3.1.-3.5. of these Terms.
The Company prohibits the use of the Platform to persons under the age of 18. If the Company establishes that the user under the age of 18 has registered on the Platform by putting incorrect and (or) false personal information, the Company can block this User from accessing the Platform and the Website immediately and delete his or her profile without rights for future unblocking.
The Company can temporarily stop the usage of the Platform for technical maintenance.
The process of transferring of virtual assets to the Platform by the User should not be considered an “investment procedure” in any meaning and interpretation of this term.
The transferring of the owned virtual assets to the Platform by the user is not a process of investment into a common venture and/or an investment procedure into the Company.
The User does not obtain a participation share in any legal body as a result of transferring of the owned virtual assets to the Platform, including share in the Company or share in the Company’s capital.
The User does not gain the status of the creditor and/or loan holder of the Company as a result of transferring of owned virtual assets to the Platform.
The transferring of the owned virtual assets to the Platform by the User and receiving Tokens in return does not grant the User the right to participate in profits and (or) losses of the Company, (as shareholders or stockholders, but gives the right to receive bonuses from DAA as it is mentioned before) nor does it grant the User the right to participate and (or) obtain a share in assets and (or) liabilities of the Company.
The Company reserves the right to limit the User’s access to the Platform, services associated with it or any part of them in its own discretion, at any time, without a prior notification, in particular because of legal reasons associated with counter-terrorism measures, money-laundering or any other applicable rules. Still, in case if such actions are required, we will do our best to notify you in advance and to solve the circumstances causing such a situation to occur as soon as possible. In worse cases, when required to do so in (including, but not limited to situations related with risks mentioned later in this document) we will return You transferred amount of virtual assets, basing on results of DAA activity and excluding our fees, which also are mentioned later in this document.
The Company does not act as a licensed investment advisor, broker, licensed investment firm or in any other capacity requiring Company to receive a specific license for its activity, nor do the contribution for Tokens used for further investment purposes.
4. THE RECEIPT OF TOKENS
In accordance to this Agreement, the Token is an accounting unit in the Platform, which confirms the User’s right to participate in the Platform’s activities and to receive bonuses from operation of this Platform in the future.
The Token is not a share, a security, a cryptocurrency or any other kind of assets, trading of which is qualified as a financial activity and requires licensing.
The cost of a single Token is calculated according to a formula based on the ratio of the global cost of virtual assets in the Platform’s management to the sum of Tokens in circulation (sold to Users). Taking this into consideration, the cost of a Token is a dynamic factor, which is calculated separately for each new User of the Platform at the time of entering the system via transferring virtual assets to the Platform.
The User is not limited in transferring an unlimited amount of virtual assets to the Platform. The minimal amount of Tokens for exchange depends on the dynamic limitations of the Platform expressed in USDT virtual assets or may be also expressed in BTC.
The transferring of virtual assets to the Platform is conducted for a period of 6 months in accordance to general rule. At the same time, this condition does not limit the possibility to withdraw owned virtual assets from the Platform for the User. In such a case, the User pays a forfeit penalty amounting to 5% of the current amount of virtual assets contributed.
In general, if other is not agreed with the User personally in written, The User also accepts the condition about automatic prolongation of the rights of the Platform to manage his or her virtual assets: If the User does not request the withdrawal of initially contribution amount and bonuses in 30 (thirty) calendar days prior to expiration of 6 months term since the moment of the initial contribution (or of the another period of contribution, if agreed by the parties), this rule will come into effect and User’s assets will become “frozen” for next 6 months (or for another period of contribution, if agreed by the parties).
To obtain Tokens on the Platform, the User has to place his or her virtual assets in the Wallet. The Company can add or remove the possibility to move various virtual assets to the wallet from time to time. Virtual assets used to obtain Tokens in accordance with the terms of this Agreement are BTC and USDT.
The Company reserves the right to deny or cancel any requests for Token exchanges at any time on its own discretion or to add new Tokens.
The possession of Tokens does not grant any additional rights other than the right to cooperate with the Platform that is based on the obtaining of bonuses distributed proportionally to Tokens acquired.
The User understands and accepts the fact that the Token is not a share, stock or a security, nor is it the intellectual property right or other form of participation in Platform’s activity beside the right concerning the use of the Platform and obtaining of bonuses, as it is already has been prescribed earlier in these Terms.
The Token is not a cryptocurrency irrespective of what legal meaning the “cryptocurrency” definition currently bears.
Any potential possibility to exchange Tokens for cash money lies outside the scope of the Platform’s influence and is not one of the services provided by the Platform.
The Company does not allow Users to exchange Tokens for cash money. Users can exchange Tokens only for other Tokens.
The User will employ reasonable and relevant measures focused on safeguarding access to:
any device with an e-mail connected to User’s Personal account;
User’s name, password or any other credentials.
If the User suspects a security violation in any of aforementioned cases, the User has to immediately report this to the Company in order for it to provide all the necessary and possible measures guaranteeing the safety of the User’s Personal Account, Tokens and the Platform overall.
If the User does not own any device connected with the Personal Account, or if the User cannot enter his or her login or other credentials, the Company can block the User’s access to the Platform on its own discretion, and only in case if the Company can provide the User or any other party that provides all relevant credentials to the Company.
The Company undertakes an obligation for its part to provide the security of the User’s wallet by means of Google Authenticator, SMS, e-mail confirmations; the Company also accepts all the reasonable measures to provide the safety of virtual assets in the Platform’s management (cold wallets).
6. PRIVACY AND KYC
The company reserves the right to request the documentation before the User’s Personal Account on the Platform is activated for the purpose of relevant statutory compliance or any rules relevant to the Token trading (hereinafter also referred as to the “KYC” or “Checks”). The Company can deny the User the access to the Platform in case the Company has any questions about the validity and authenticity of documents provided by the User.
User agrees to provide the Company with such information immediately upon request and acknowledges that the Company can deny providing the possibility to obtain Tokens to the User until the User provides such information and the Company concludes that the User should be allowed to receive Tokens in accordance to relevant legislation.
At the moment of creation of the Personal account by the User on the Platform’s Website the Company can gather and store Users personal information – name, address, phone number, e-mail address and other similar information. Before allowing the access to the Platform, the Company can request from the User to provide additional information (for example, birthdate, passport number, individual taxpayer number or other information that might be required for personal identification or needed for relevant statutory compliance) so that the Company is able to verify the identity or the address of the User.
During the use of the Platform located at www.cryptoart.fund, the Company gathers information on the User’s actions on this Website and can also gather information about the User’s computer or other access device to prevent fraud. The Company can gather additional information about you through your communication with our support team.
When the User gets an access to the Platform, the Company (or GoogleAnalytics on behalf of the Company) can install small data files called cookie-files on a computer or other User’s device. The Company uses these technologies to identify the User; to set the Website and advertisement; to estimate the efficiency of the advertisement and gather information about the computer or any other access device to minimize risks, prevent fraud activities and encourage trust and safety.
In all these cases the Company uses the term “personal information” to describe the information that can be connected with a particular person and can be used to identify that person.
The Company will not provide the User’s personal information to other Users without his or her consent or a legal requirement.
The User can at any time get access, overlook and edit his or her personal information on the Company’s web-page located at www.cryptoart.fund, using his or her credentials.
7. INTELLECTUAL PROPERTY
The company reserves all the rights, names and interest for all the intellectual property of the Platform, including all the inventions, discoveries, processes, brands, methods, compositions, formulas, methods, information and data, whether or not they are patentable, copyrighted, trademarked or any trademarks, copyrights or patents based on them. The User cannot use any intellectual property of the Company with any intent, except in case of the written letter of consent of the Company.
The User is provided with a non-exclusive, non-transferable right for access and use of the Platform.
The User must use the Platform and Tokens only in accordance with the provisions of this Agreement. As a term of use of the Platform and Tokens, the User guarantees to the Company that he or she will not use the Platform and the Token with any intents that are illegal or prohibited by the provisions of this Agreement. The User cannot use Tokens in any way that may harm, shut down, reload the Platform, or prevent any other party from using it.
All the content offered by the Platform, such as text, graphics, logotypes, pictures, source code as well as their compilation and any used software on the Website is the property of the Company and is protected by copyrights, trademarks and other laws that protect the intellectual property and ownership rights. The User undertakes an obligation to comply with all the restrictions related to the protection of copyrights and intellectual property in the content offered by the Platform, and to prevent any changes being introduced to it.
8. LIMITATION OF LIABILITY
Legal Disclaimer. Nothing on the Website, Platform, or services, nor any portion thereof constitutes actual legal, marketing, regulatory, or other professional advice, opinion, or recommendation by Company, its affiliates. Users assume all responsibilities and obligations with respect to any decision, advice, conclusions, legal opinions, recommendations made or given as a result of the use of the Website, Platform and services, including, without limitation, any decision made or action taken by User in reliance upon to the Platform, services or the information, provided on the Website.
The parties of this Agreement agree that the Company’s responsibilities are limited to the maintenance of the correct operation of the Platform, which includes also the distribution of corresponding bonuses under the terms provisioned in this Agreement. EXCEPT AS EXPRESSLY PROVIDED HEREIN, TO THE GREATEST EXTENT PERMITTED BY APPLICABLE LAW COMPANY EXPRESSLY EXCLUDES AND DISCLAIMS ALL WARRANTIES AND CONDITIONS OF ANY KIND, WHETHER EXPRESS, IMPLIED, STATUTORY, OR OTHERWISE. WITHOUT LIMITING THE GENERALITY OF THE FOREGOING, CRYPTOART OU SPECIFICALLY DISCLAIMS ALL EXPRESS OR IMPLIED WARRANTIES OF DESIGN, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE, QUALITY, AND NON-INFRINGEMENT, THAT THE SERVICES AVAILABLE ON THE MENTIONED WEBSITE WILL MEET USERS REQUIREMENTS (INCLUDING, BUT NOT LIMITED TO AMOUNT OF DAILY OR OTHER BONUSES WHICH ARE ENTITLED TO USERS BASING ON THEIR CONTRIBUTION AMOUNTS), OR THAT THE SERVICES WILL ALWAYS BE AVAILABLE, ACCESSIBLE, UNINTERRUPTED, TIMELY, SECURE, ACCURATE, COMPLETE, OR ERROR-FREE. IN ADDITION, COMPANY DOES NOT WARRANT ANY CONNECTION TO OR TRANSMISSION FROM THE INTERNET AND THAT BLOCKCHAIN AND CRYPTOCURRENCIES WILL WORK AS DESIGNED AND ERROR FREE. NO ADVICE OR INFORMATION, WHETHER ORAL OR WRITTEN, OBTAINED FROM COMPANY OR ELSEWHERE NOR ANY COURSE OF DEALING WILL CREATE ANY WARRANTY OR CONDITION NOT EXPRESSLY STATED IN THIS AGREEMENT. THE SERVICES ARE PROVIDED ON AN “AS IS” AND “AS AVAILABLE” BASIS
The process of transferring of the owned virtual assets by the User to the Platform and receiving Tokens in exchange should not be considered an act of “trading” Tokens under any interpretation of the word “trading”. The Company is not considered a financial institution and (or) the keeper of any financial assets owned by Users.
The company does not bear the responsibility for losses of any kind (including indirect, special, incidental, collateral losses or losses of expected gain but not limited to the,) resulting from the Platform, Website usage by the User, even in case when the Company was notified about them or knew about the possibility of such losses.
Besides, the Company will not be responsible for any compensation, refund or loss emerging as a result of force-majeure or other unpredictable circumstances, including:
- inability to use Tokens as a result of any termination or temporary interruption of the Platform’s operations including, but not limited to power failures, technical maintenance, breakages, system failures or other causes;
- expenses for purchasing substitutional goods or services required in relation to losses incurred as a result of power failures, technical maintenance, system failures or other causes;
- any virtual assets, expenses or obligations that the User has undertaken liabilities for in relation to this Agreement or with usage of Tokes.
- any unauthorized access, alteration, removal, deletion, damaging, loss or rejection of storage of any assets, contributions (due to the hacking attempts, thefts and etc) data, including notes, private key or any other credentials attributed to any Token.
COMPANY DOES NOT WARRANT OR MAKE ANY REPRESENTATIONS REGARDING THE CONTENT ON THE WEBSITE OR PLATFORM IN TERMS OF THEIR TIMELINESS, CORRECTNESS, ACCURACY, RELIABILITY, OR OTHERWISE. WHILE WE MAKE REASONABLE EFFORTS TO PROVIDE ACCURATE AND TIMELY INFORMATION, USERS SHOULD NOT ASSUME THAT THE INFORMATION PROVIDED IS ALWAYS UP TO DATE OR THAT THE WEBSITE CONTAINS ALL RELEVANT INFORMATION. WE UNDERTAKE NO OBLIGATION TO VERIFY OR MAINTAIN THE RELEVANCY OF SUCH INFORMATION.
The User will, to the full extent of the legal limitations, compensate, protect and excuse from claims the Company and its former, current, and future employees, functionaries, executives, contractors, consultants, stockholders, suppliers, service providers, affiliates, agents, representatives, predecessors, successors (hereinafter referred to as “Company parties”), from all the demands, actions, losses, expenses and charges (including lawyers’ fees) resulting from or related to the receipt or usage of Tokens, User’s obligations from this Agreement, violation of this Agreement by the User or a violation of right of any other person or organization by the User.
The User will cover the losses and protect the Company, Company parties, partners and every of its relevant employees, functionaries, executives and representatives from any demands, losses, obligations, expenses (including reasonable lawyer’s fees), resulting from or related to any third party complaint against the terms of this Agreement or the User’s use of Tokens contradicting the terms of this Agreement. If the Company or its affiliates have to answer to the exterior request for summons or any other law or order described above, the User will also compensate all the reasonable lawyers’ fees and the loss of time by employees and contractors at reasonable hourly rates.
To the fullest extent permitted by the current legislation, which includes the legislation of Republic of Estonia and international laws, Tokens, the Platform, the Website where the Platform is located, all the information, software, goods, services and relevant graphics are provided in accordance to terms described in this Agreement, as well as possible individual terms which could be ratified between the User and the Company without any additional requirements (terms) not included in this Agreement. All the User’s guarantees due to the usage of the Platform, rights and responsibilities of Parties of this Agreement, terms of receipt and management of Tokens are described in this Agreement.
All the terms concerning the distribution of bonuses, provided by this Agreement, are provided by the autonomous operation of the Platform. The Company provides the correct operation of the platform only in part of Terms of this Agreement.
9. APPLICABLE LAW
These Terms and usage of the Platform will be regulated in accordance with the laws of Estonia. The User agrees that any actions in accordance to the law or the justice that are implied by this Agreement, are not subjected to arbitration proceedings (which are described hereunder in Section 11 of these Terms), or those connected to them, will be taken only in national courts of Estonia. Due to this Agreement, the User agrees unconditionally and complies to the exclusive jurisdiction of such courts regarding any lawsuit, action or court proceeding resulting from these Terms.
10. DISPUTE SETTLEMENT; ARBITRATION
The User and the Company will regulate arising disputes by negotiations or the arbitration proceeding (which acts as a regulator of the dispute and has the final and binding decision instead of dispute settlement by judge or the jury in court).
Any dispute arising from this Agreement or related to it is a personal one for the User and the Company and should be settled by individual arbitration only.
Each Part notifies the other Party in written form about any Dispute inside a 30 (thirty) day period from the date of its appearance, so that the Parties are able to take a conscientious decision about the dispute settlement by negotiations. The notification about a dispute should be sent to the Company by e-mail at email@example.com. The notification must be sent at the current e-mail address in the User’s Personal account. The notification should include the name of the User, postal address, e-mail address and phone number, as well as the description of the nature and basis of the dispute and particular aid the User is requesting, in reasonable detail. If the User and the Company cannot agree on how they should settle the dispute during 30 (thirty) days from the date of receiving the notification by the relevant party, the User or the Company can, depending on the situation and in accordance with the current section of the Agreement, begin the arbitration proceeding. Any kind of arbitration proceeding will take place in Stockholm, Sweden. The arbitration will be conducted confidentially, by single arbiter in accordance to Arbitration rules of the Arbitration Institute of the Stockholm Chamber of Commerce (SCC), which is included in this description as a link: http://sccinstitute.com/dispute-resolution/. Arbitration rules of the SCC Arbitration Institute of the Stockholm Chamber are available at the SCC website. By agreeing to the binding obligation of these Terms, the User has either read and agreed to the Arbitration rules of SCC, or refused the possibility to get acknowledged with the SCC Arbitration rules and any assertions that SCC Arbitration rules are unfair or should not be applied by any reason.
All the messages and (or) notifications that the User or the Platform make within the frame of the present Agreement,, must be done in English language.
11. REPRESENTATIONS AND WARRANTIES
By transferring his or her virtual assets in exchange for Tokens on the Platform, the User represents and guarantees the following:
- The User has read and understood the present Agreement.
- The User understands, that purchase of Tokens can not be considered as investment in any possible way;
- The User has sufficient understanding of functions, usage, storage, transfer mechanisms and other physical characteristics of virtual assets built on a basis of the blockchain technology, Token storage mechanisms (wallets), blockchain technology and software systems based on a flowchart principle, to understand all the Terms of the present Agreement, evaluate risks and consequences of Token receipt;
- The User has obtained enough information about Tokens to make an educated decision on exchanging his or her virtual assets for Tokens;
- The User understands that Tokens represent only the right for access and usage of the Platform as well as rights for the receipt of bonuses and do not grant any additional rights of any form relating to the Platform or the Company or its corporate branch units, including, among other things, any kind of voting, distribution, acquittance, liquidation, ownership (including all the kinds of intellectual property) or any other financial or legal rights;
- The User performs an exchange of owned virtual assets for Tokens solely for the purpose of gaining access and usage rights with the Platform for receipt of bonuses as well as for the correct operation of the Platform (support of the development, testing, expansion and operation of the Platform), realizing all the commercial risks attributed to the Company and the Platform. The User does not exchange Tokens for any other goals, including investment goals, speculative or other financial goals but not limited to them;
- The User’s exchange of Tokens is fully corresponding with the current legislation and judicial customs of the User, including but not limited to: legal capacity and any other applicable judicial requisitions in User’s legislation for the receipt of Tokens, any currency or regulatory restrictions that can be necessary to receive.
- The User will adhere all the applicable tax liabilities in his or her legislation, attributed to the receipt of Tokens;
- If the User exchanges Tokens on behalf of some third party, the User has the right to approve this Agreement on behalf of the third party mentioned above, and this third party would be held accountable for any violations of provisions of the present Agreement by the User or any other employee or agent of such third party.
- The User is not: a citizen or a resident of a geographical area, where the access to the Platform or use of it is restricted by the local legislation, resolution, agreement, or an administrative regulation; a citizen or a resident of a geographical area that is a subject to sanctions or an embargo from any sovereign state, nor is he a private individual employed by or connected with a legal entity that is listed in any lists of persons or organizations denied of access to them, dedicated persons or blocked individuals, nor is he or she listed in any lists of precluded parties. The User agrees that if his or her country of residence or other circumstances change in such a way that aforementioned concepts become applicable to the User, he or she will cease using the Platform immediately. If the User registers to use the Platform on behalf of the legal entity, the User also acknowledges and guarantees that this legal entity is organized properly and actually exists in accordance to the applicable judicial laws of his or her organization and that the User is empowered by this legal entity to act on its behalf in a proper manner.
- The Platform, the Website and DAAs are not intended for use by private individuals or legal entities which are citizens or resident of the Prohibited Jurisdictions (shall mean territories [states] with limited recognition: Territory or Insular Possession of the United States; Cuba; Democratic People’s Republic of Korea (North Korea); Iran; Pakistan; Syria; the Government of Venezuela; and Crimea; Private individuals or legal entities with domicile or place of incorporation in Prohibited Jurisdictions should not use the Platform, the Website and DAAs – all the services that the Platform provides are not being offered in Prohibited Jurisdictions.
- The Company decides what reasonable organizational and technical measures should be undertaken to ensure that entities mentioned in paragraph 12.1.11 do not have an access to the Platform, the Website and DAAs (up to and including blocking of IP addresses for these Users). The Company does not bear any responsibility for any legal or pecuniary consequences affiliated with such usage. Any person matching the criteria from para 12.1.11 should stop the use of the Platform and leave the Website immediately. Besides, entities that use the Platform and the Website despite the prohibition should compensate and secure the Company against any judicial or pecuniary consequences affiliated with the violation of terms described in para 12.1.12 upon first request.
- The User understands and acknowledges the risk of loss of Tokens that he exchanges for owned virtual assets.
12. TAXES AND CHARGES
- All the actual and potential tax liabilities of the User must be fulfilled by the User exclusively, whereas the Company under no circumstances and under no event must compensate a tax liability of the User or provide the User with any kind of recommendations regarding taxes, including following: what questions regarding the registration and/or the appropriate accounting the User should take to the relevant taxing authority, which taxes and to what extent you must pay, what tax advantages you are entitled to and so on.
- All the fees that the User has to pay for the services provided by the Platform do not include taxes – if certain operations are subjects to taxation, the corresponding amount should be added on top of the payable fee amount.
- The Platform can collect payments from Users of the Platform. There exist following types of fees:During the transfer of the cryptocurrency from the User to the Platform and receiving Tokens in exchange, the Platform collects a 2% (two percent) management fee from the amount of cryptocurrency transferred to the Platform from the User (which is pro ratio charged during calendar year);The platform collects 30% (thirty percent) performance fee from the total amount of funds earned by the Platform for Users (assets, bonuses) each month at the instant of report issuing and/or accounting business period close-out;All kinds of fees described above stay at the Platform as virtual assets, applicable to this particular deal. The fees are usually being integrated into the source code and are collected automatically.The amount of fee and any other additional terms concerning aforementioned fees are specified on the Website with regard to each specific DAA. The company can make Fee Schedule with general fees public, in this case it must be published in a clearly visible place on the Website (“Participation fee”).
- Depending from the market volatility and under other circumstances, at the Company’s sole discretion, the Company reserves the right to change the fee amount from time to time. You will be notified in advance regarding such changes.
13. CONCLUDING PROVISIONS
Present Terms represent the full agreement between the User and the Company regarding the subject of present Terms, usage of the Website, the Platform and DAAs in particular. These Terms supersede all the previous or simultaneous statements or agreements between the User and the Company, irrespective of whether they are written or agreed upon verbally, regarding the subject of present Terms. The Company should not be limited in its right by any kind of term, guarantee or any other condition that can act as a supplement or differ from the present Terms (irrespective of whether it caused a substantial alteration of present Terms or not) and that was provided by the User in any kind of administrative order, receipt/certificate, letter, confirmation, correspondence or other kind of document.
These Terms are not pre-configured. If the User does not agree with any of present Terms, believes, that they should not be applied to him or her or has intention to discuss possible agreements concerning present Terms, the User must immediately contact the Company by e-mail and leave the Website. The User should not use the Website and/or services offered until the desired agreement with the Company about new terms of usage of particular services is negotiated.
This document should not be considered an investment consultation, a solicitation for sale or subscription, neither does it imply the invitation for the purpose of sale or subscription offering (including sale of Tokens). By exchanging Tokens and using them in accordance to present Agreement for the Platform usage, the User will be bound by this public offering as well as other terms, included as links.
SEVERABILITY. If any term, provision, covenant or restriction of these Terms is held by a court of competent jurisdiction to be invalid, illegal, void or unenforceable, the remainder of the Terms, provisions, covenants and restrictions set forth herein shall remain in full force and effect and shall in no way be affected, impaired or invalidated, User and Company hereto shall use their commercially reasonable efforts to find and employ an alternative means to achieve the same or substantially the same result as that contemplated by such term, provision, covenant or restriction. It is hereby stipulated and declared to be the intention of the parties that they would have executed the remaining Terms, provisions, covenants and restrictions without including any of such that may be hereafter declared invalid, illegal, void or unenforceable.
14. FORCE MAJEURE.
Neither Party hereto shall be liable for failure or partial failure to perform these Agreement if such failures have been caused by Force Majeure circumstances being beyond Parties reasonable control such as fire, flood, earthquake, epidemic, epizootic, wars, military actions, governmental acts and regulations, embargo and other circumstances which current law may refer to as Force Majeure. Target dates of obligations execution under this Agreement shall be postponed for the period of such circumstances duration. If such circumstances last over 1 month Parties shall negotiate to achieve a solution acceptable for both Parties.
Within 15 working days after the occurrence of Force Majeure circumstances the affected Party shall submit to other Party a Force Majeure confirming document issued by Chamber of Commerce and Industry or any other authorized or reputable organization of the country of the Force Majeure. Such document shall constitute a sufficient proof of Force Majeure.
Should such Force Majeure circumstances last for more than 60 days, any Party shall be entitled to terminate further execution of its obligations under this Agreement.
In this case the Parties shall effect the final settlement under the Agreement within 15 working days after notification by either Party of termination of its obligations hereunder in connection with Force Majeure circumstances.
In such cases neither Party shall be entitled to claim damages caused by Force Majeure circumstances from the other Party.
APPENDIX № 1
LIST OF RISKS
The user acknowledges that virtual assets, DAAa, the Platform, the blockchain technology, the Ethereum protocol, Ether and all the technologies affiliated with them are new and questionable as well as outside of the exclusive control of the Company and are subjected to risk of negative changes in market situation and/or relevant technologies – in accordance with present Terms, the Company does not bear responsibility for any losses that are the result of aforementioned risks.
Additionally to the aforementioned, the User also acknowledges that he or she was warned about following risks, connected with the Website, the Platform, DAAs and products affiliated with them:
(а) Legal risks concerning the statutory regulation of securities. There is a risk that DAA and other virtual assets can be equated to securities or be considered securities in the future in some legislations. The Company provides no guarantees that DAAs and virtual assets are not considered securities in all legislations. Each user of virtual assets and DAA suffers his or her own legal or pecuniary consequences, affiliated with virtual assets and DAAs that are considered securities in accordance to the statutory regulation of this question in their legislation. Each User must check if the purchase and sale of virtual assets and DAA is legal in his or her legislation, and, by accepting this Agreement with all its Appendixes, each User agrees not to use virtual assets and DAA through the Platform if their usage is illegal in the corresponding legislation. The receipt of Tokens in possession and their exchange for other Tokens will most likely be thoroughly studied by various regulatory authorities all over the world, resulting in mixed reaction and regulatory consequences. The legal ability of the Company to provide virtual assets and DAAs in some legislations can be removed as a result of relevant future changes in legislation. In some cases, if there will be a huge possibility that virtual assets and DAAs become illegal in certain legislation, the Company can come to a following decision: a) stop any operations in this legislation, or b) bring virtual assets or DAAs in compliance with this particular legislation so that operations relative to services provided by the Platform can be performed.
(b) Risks affiliated with the protocol and relevant technologies – our DAA is based upon the specific protocols, algorithms created by the Company. Therefore, any malfunction, uncalculated function or unforeseen operation of mentioned technologies can lead to the failure of DAA or DAA operating in an unpredicted or unintentional way.
(c) Risks affiliated with Users’ credentials. Any third party that gains access to the User’s credentials affiliated with the Website, the Platform or closed keys, can control User’s virtual assets and DAAs. To minimize this risk, the User should protect his or her electronic devices from unauthorized access. The Company also provides expanded safety methods like two-factor authentication.
(d) The risk of negative regulations in one or several legislations. The Blockchain technology is currently an object of close attention from various regulatory authorities all over the world. The functioning of the Ethereum network, elements of the Blockchain system affiliated with it, virtual assets and DAA can be influenced by one or several regulatory requests or action, including limitations in usage or possession of Tokens such as DAAs; such events can prevent their emission, usage permissibility and possession as well as affect their value.
(e) The risk of fraud and security breach. Hackers or other groups or organizations can try to interfere in functioning of your Personal Account, the Wallet itself, the Platform or the Website. Considering this fact, the User assumes an obligation to secure his or her wallet by setting dependable access passwords in an instant of entering the Platform.
(f) The risk of weaknesses in the security of the source code for the Platform, DAA or any affiliated software. There is a risk of unintentional errors in source code of DAA due to technical aspects of their functioning; such errors can prevent the use of DAA or loss of virtual assets.
(g) The risk of weaknesses or achievement influencing the exploitation of relevant technologies in the domain of cryptography. Cryptography achievements or technological achievements such as quantum computing systems development, can pose risks for the cryptocurrency, the Ethereum platform, the Platform and DAAs, which may lead to theft or loss of virtual assets.
(h) The risk of mining attacks. Just as with other decentralized cryptocurrencies, the Bitcoin which can be used for contribution for Tokens is susceptible to mining attacks, including double attacks, majoritarian power attacks, “selfish” mining and continuous attack cycle. Any successful attacks pose possible risk for DAAs, Your virtual assets and etc. In spite of all the efforts of the Company, there is a risk of known or new threats to mining.
(i) The risk of low liquidity or absence of liquidity. Despite the fact that there is free access to online-services that allow transferring of Tokens between Users, and some of them allow to exchange Tokens for cash money, the Company does not provide guarantees that DAAs Token would be transferred or provided for such an exchange for other Tokens and/ or cash money. Besides, the Company does not guarantee the appearance of such possibilities in the future. It should be noted, that such exchange can arouse suspicion from law enforcement agencies and lead to certain regulatory consequences, and the Company provides no guarantee concerning any of exchange services providers. Users can be subjected to fraud and technical malfunctions. In any case, the Company and the Platform will not allow the exchange of virtual assets for cash money. At one point the User can lose the capability to exchange Tokens through the Platform due to absence of liquidity.
(j) The risk of depreciation. If the value of virtual assets affiliated with DAA Tokens is fluctuating negatively, such fluctuations can lead to depreciation of DAAs Tokens, and Users can suffer losses due to depreciation of such Tokens. There can also emerge other reasons, not connected with the value of virtual assets affiliated with DAA Tokens value, which may lead to negative fluctuations of the latters.
(k) The risk of uninsured losses. Unlike bank accounts or account in some other financial institutions, virtual assets affiliated with the use of the Platform, DAAs Tokens are not insured.
(l) The risk of malfunction of any blockchain network. It is possible that the BTC network or any other network used or affiliated with the Platform can generate errors during operation, including errors that may lead to the loss of DAAs Token, or loss of information about any other Tokens affiliated with the functioning of the Platform. For example, some issues may arise during withdrawals in BTC or USDT and etc.
(m) Risks affiliated with the Internet. The User acknowledges that there are risks affiliated with the usage of the Platform, virtual assets and DAA Tokens, including among other things, failures of the hardware, the software and/or Internet connections. Considering this fact, the company bears no responsibility for any failures, errors, distortions or delays that can appear during the use of the Platform, regardless of their origins.
(n) Unexpected risks. Cryptocurrencies and the blockchain system are new and unexamined technologies. In addition to risks described above there can be risks the Company cannot predict, and it would be unreasonable to affirm that such risks could be predicted.
(o) Company has a limited operating history and any success to date may not be indicative of future results. Company has a limited operating history upon which an evaluation of its prospects and future performance can be made. Ctyprotart’s OU proposed operations are subject to all business risks commonly associated with new enterprises. Using Platform and services must be considered in light of the problems, expenses, difficulties, complications, and delays frequently encountered in connection with the inception of a business, the operation in a competitive industry, and the continued development of advertising, promotions, and a corresponding client base. Each User should consider Company’s business, operations and prospects in light of the risks, expenses and challenges faced as an early- stage company.
(p) Company and/or the Platform may dissolve. It is possible that, due to any number of reasons, including, but not limited to, an unfavorable fluctuation in the value of ETH, BTC or other cryptographic and fiat currencies, the failure of commercial relationships, or intellectual property ownership challenges, Company may no longer be viable to operate, or Company may dissolve
As it was already mentioned, the Platform is provided to Users “as is”. We, our affiliates and licensors do not provide any guarantees, evident, implied, established by law or others with regard to the Platform, including any guarantees that the functioning of the Platform will be consistent, faultless or free from harmful factors, safe of free from risk of loss or damaging the information. We, our affiliates and licensors, repudiate all guarantees, including any implied guarantees of vendibility, satisfactory quality, fitness for a particular purpose, absence of breaches or problem-free exploitation, as well as any guarantees affiliated with trading of Tokens, except for described in present Agreement, except where otherwise provided by law.