DropCoin Token Acceptance and Terms of Use

Last updated: October 30, 2018

The following terms and conditions (“Terms”) govern your acceptance of DropCoin tokens and any and all use of the DropCoin network, including use of the dropcoinproject.io website, dropcoinportal.net website and promotional coins generated on the DropCoin network (collectively, the “DropCoin Network” or "Network"). You hereby confirm you understand the Terms and hereby expressly agree to be bound by and comply with the Terms. Your access to and use of the DropCoin Network is conditioned on your acceptance of and compliance with these Terms. If you disagree with any part of the Terms then you may not access the accept DropCoin tokens or access the Network.

Please review carefully and keep a copy of these Terms for your reference.

The DropCoin Network reserves the right, subject to applicable law, to make changes to, modify, or add or remove portions of these Terms, Privacy Policy and other incorporated terms and policies, in the Network’s sole discretion, at any time. The Network encourages you to check the dropcoinproject.io website frequently to see the current Terms in effect and any changes that may have been made to them prior to DLV’s genesis block airdrop. All changes made to the Terms are effective immediately when posted on dropcoinproject.io.

1. Your Assumption of Risk Regarding DropCoin Tokens and DropCoin Network

The DropCoin Network is a network of participants operating on a distributed ledger platform with no persons or entities formally “in charge.” However, members of the Network have been nominated and appointed to perform certain functions on the Network’s behalf.

You hereby expressly acknowledge and agree that (i) you are accepting and using DropCoin tokens, including in connection with the DropCoin Network (which is an experimental software), at your sole risk and expense, (ii) you have an adequate understanding of the risks, usage and intricacies of cryptographic tokens such as DropCoin and blockchain-based software such as the DropCoin Network, (iii) each of DropCoin Launch Vehicle, Inc., its current or future subsidiaries, affiliates, directors, officers, employees, agents, representatives, and any other person or entity with any involvement in the creation or distribution of DropCoin tokens, or in developing software underlying the DropCoin Network, or in maintaining the integrity or functionality of the DropCoin Network, in each case, whether or not affiliated with DLV or any other such person or entity (collectively, the “Subject Persons”) shall have no responsibility or liability for the loss, transfer, misappropriation, theft, use or misuse of DropCoin tokens, including as utilized in connection with the DropCoin Network, or any financial or physical harm or loss related thereto, and you hereby irrevocably waive any and all rights and claims with respect thereto, and (v) the Subject Persons do not endorse or recommend the use of any software or hardware wallet services and/or market exchanges (including any over-the-counter market) in connection with any storage, transfer or other transaction related to DropCoin tokens, all of which may be used at your sole risk and expense.

2. The DropCoin Network

You hereby expressly acknowledge and agree that the DropCoin Network (including betanet and mainnet): (i) is a decentralized network and that the Subject Persons (A) are not responsible for the development, launch or maintenance of the DropCoin Network and (B) do not operate, maintain, support or otherwise authorize any activity related to the DropCoin Network, (ii) is likely to experience scheduled and unscheduled downtime, interruptions, delays, hard forks, bugs, viruses, and cyberattacks, (iii) may from time to time lack features or functionality and/or require maintenance, support or other adjustments, (iv) is designed to rely on open-source software, and there is a risk that a person introduces weaknesses, bugs, viruses or other malicious code into the core infrastructural elements of the DropCoin Network causing the system to lose or erase all or a portion of DropCoin tokens used in connection with the DropCoin Network, and (v) could be impacted in whole or in part by one or more regulatory or governmental inquiries or actions, which could impede, limit or restrict the use or transfer of DropCoin tokens or otherwise result in the complete or partial loss of DropCoin tokens.

3. Your Responsibility to Keep the Information Available to You Confidential

If you elect to use DropCoin tokens in connection with the DropCoin Network, you are solely responsible for maintaining the confidentiality of any private information pertaining to yourself and any account you create in connection therewith and you hereby agree to accept full responsibility for all activities that occur under any such account, whether conducted by or on behalf of you or without your authorization. You hereby acknowledge and agree that none of the Subject Persons will be liable for any loss or damage arising from your failure to comply with this Section. You hereby acknowledge and agree that any and all information you provide to any of the Subject Persons is governed by the Privacy Policy, and you hereby consent to all actions any the Subject Persons take with respect to your information consistent with our Privacy Policy.

4. Notice of Intention to Transfer Data Controller Responsibility to DropCoin Masternode Community

Subsequent to the launch of the DropCoin Network, certain masternode participants in the DropCoin Network may initiate proposal(s) to the DropCoin masternode community to transfer data controller responsibility pursuant to Section 2 of the Privacy Policy.

By accepting DropCoin tokens or using the DropCoin Network, you expressly acknowledge and agree that Subject Persons may transfer data controller responsibilities to a member of the DropCoin masternode community.

5. Representations and Warranties of Users

By accepting, using or holding the DropCoin tokens or the DropCoin Network, you expressly represent and warrant that (i) you are legally permitted to receive, hold and make use of the DropCoin tokens and DropCoin Network in your jurisdiction; (ii) you are of legal age in your jurisdiction to obtain, hold and use DropCoin tokens and the DropCoin Network, and in no circumstance are under sixteen (16) years of age; (iii) you are not receiving, holding or using the DropCoin tokens or the DropCoin Network for the purpose of speculative investment; and (iv) you are not obtaining or using DropCoin tokens or the DropCoin Network for any illegal purposes, including the purchase or transaction in illegal goods, services or substances.

6. Agreement to Supply KYC / AML Information And Verify Information

By accepting, using or holding the DropCoin tokens or the DropCoin Network, you expressly acknowledge that the Subject Persons, or third parties retained by the Network, may require you to provide certain personal information that may include your name, address, telephone number, e-mail address, date of birth, taxpayer identification number, government identification document, and other relevant information which are customary or may be required in order to comply with Know Your Customer” or Anti Money Laundering” (KYC/AML) laws.

The Subject Persons, or third parties retained by the DropCoin Network, may also require you to answer certain questions or take actions in order to verify your identity to comply with applicable law. In submitting this or any other personal information as may be required, you verify that the information is accurate and authentic, and you agree to update such information if it changes.

You hereby authorize the Subject Persons, or third parties retained by the DropCoin Network, to make any inquiries necessary to verify your identity and/or protect against fraud, including to query identity information contained in public reports (e.g., your name, address, past addresses, or date of birth), and to take action reasonably necessary based on the results of such inquiries and reports. You further authorize any and all third parties to which such inquiries or requests may be directed to fully respond to such inquiries or requests.

You understand and agree that the KYC/AML process may be legally required by various jurisdictions, and you expressly agree that you will provide any and all KYC/AML information that is requested, and that, if you fail to provide any KYC/AML information that is requested of you, your right and ability to access, hold or use the DropCoin tokens or the DropCoin Network will be terminated and your DropCoin tokens may be forfeited, confiscated, or burned.

7. Disclaimers

No party — including any of the Subject Persons — makes any representation or warranty about the suitability, reliability, availability, timeliness, security and accuracy of DropCoin tokens, including as utilized in connection with the DropCoin Network. To the maximum extent permitted by applicable law, DropCoin tokens and all related information, software and products are provided on “as is, where is” basis without representations, warranties or conditions of any kind, including with respect to merchantability, fitness for a particular purpose, title and non-infringement.

None of the Subject Persons have any obligation to provide maintenance, support, updates, enhancements, or modifications to the DropCoin tokens or the DropCoin Network.

8. Links To Other Web Sites

The DropCoin Network may contain links to third-party web sites or services that are not part of the Network. None of the Subject Persons have any control over, and assume no responsibility for, the content, privacy policies, or practices of any third party web sites or services. You further acknowledge and agree that none of the Subject Persons shall be responsible or liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with use of or reliance on any such content, goods or services available on or through any such websites or services.

9. Limitation of Liability

To the maximum extent permitted by applicable law, in no event shall the Subject Persons be liable for any indirect, punitive, incidental, special, consequential damages or any damages whatsoever including, without limitation, damages for loss of use, data or profits, arising out of or in any way connected with the use or performance of DropCoin tokens or the DropCoin Network, with the delay or inability to use DropCoin tokens or the DropCoin Network or related software, the provision of or failure to provide DropCoin tokens, or for any information, software and products obtained in connection with your acceptance and use of airdropped or mined DropCoin tokens, or otherwise arising out of your acceptance and use of DropCoin tokens or DropCoin Network, whether based on contract, tort, negligence, strict liability or otherwise, even if any of the Subject Persons or any of their suppliers have been advised of the possibility of damages.

You hereby acknowledge and agree that, to the maximum extent permitted by applicable law, the disclaimers of liability contained herein apply to any and all damages or injury whatsoever caused by or related to risks of, use of, or inability to use, DropCoin tokens or the DropCoin Network, or the loss or devaluation of DropCoin tokens, under any and all causes of action whatsoever of any kind in any jurisdiction, including, without limitation, actions for breach of warranty, breach of contract or tort (including negligence).

Notwithstanding anything herein to the contrary, to the maximum extent permitted by applicable law, in no event shall any of the Subject Person’s maximum aggregate liability for any and all claims be greater than $5,000.

Acceptance and use of airdropped DropCoin tokens or the DropCoin Network is unauthorized in any jurisdiction that does not give effect to all provisions of these Terms, including, without limitation, this Section.

10. DISPUTE RESOLUTION

Any and all controversies, disputes, claims or causes of action arising out of or in connection with the subject matter of these Terms, including any questions regarding the existence, validity, or termination of this arbitration clause, shall be determined by arbitration administered by the International Centre for Dispute Resolution in accordance with its International Arbitration Rules.

All disputes shall be heard by a single arbitrator. The language of the arbitration shall be English. Consistent with the expedited nature of arbitration, pre-hearing information exchange shall be limited to the reasonable production of relevant non-privileged documents explicitly referred to by a party for the purpose of supporting relevant facts presented in its' case, carried out expeditiously. Regardless of the amount in dispute, evidence will be taken by the submission of documents only.

You may locate information about this arbitration process, or about how to file a request for arbitration at https://www.icdr.org/.

To the maximum extent permitted by applicable law, for any and all controversies, disputes, claims or causes of action arising out of or in connection with the subject matter of these Terms, you will only be permitted to pursue claims against any of the Subject Persons on an individual basis, not as a plaintiff or class member in any class or representative action or proceeding, and you will only be permitted to seek relief (including monetary, injunctive, and declaratory relief) on an individual basis.

11. User Disputes

You hereby acknowledge and agree that you are solely responsible for your interactions with any other owner or user of DropCoin tokens or the DropCoin Network and none of the Subject Persons will have any liability or responsibility with respect thereto.

12. Choice of Law

The construction, validity and interpretation of these Terms, and any claims, controversy, dispute or cause of action (whether in contract or tort or otherwise) based upon, arising out of, or relating to the subject matter of these Terms, shall be governed by, and construed in accordance with, the internal law of the State of Kansas without regard to such state’s choice of law rules, conflict of law rules, or private international law.

13. Survival of Terms

In the event of the cancellation, termination, secession, or other discontinuation of continued use or availability of the DropCoin tokens or DropCoin Network, or of these Terms, all provisions of the Terms which by their nature should survive termination shall survive termination, including, without limitation, warranty disclaimers, limitations of liability, and dispute resolution.

14. Severability of Clauses

Any part, provision, or clause of these Terms which is prohibited or which is held to be void or unenforceable shall be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof. Any part, provision, representation, clause or warranty of these Terms which is prohibited or unenforceable or is held to be void or unenforceable in any jurisdiction shall be ineffective, as to such jurisdiction, only to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

15. Contact DLV

If you have any questions about these Terms, please contact the Network by emailing [email protected]