General Terms and Conditions, Legal Considerations, Risks and Disclaimer
Please read this document carefully. It details the services which we will provide and it sets out the obligations and rights applying between you and Tycoon Trading Limited. If there is anything in this document which you do not understand or with which you do not agree, do not use our Services.
General Terms and Conditions, Legal Considerations, Risks and Disclaimer
Please read this document carefully. It details the services which we will provide and it sets out the obligations and rights applying between you and Tycoon Trading Limited. If there is anything in this document which you do not understand or with which you do not agree, do not use our Services.
Legal Considerations, Risks and Disclaimer (Token Sale)
YOU MAY LOSE ALL MONIES THAT YOU SPEND PURCHASING TOKENS (AS DEFINED BELOW). In the event that you purchase Tokens, your purchase cannot be refunded or exchanged.
THERE IS NO GUARANTEE THAT THE UTILITY OF THE TOKENS OR THE PROJECT DESCRIBED IN THE AVAILABLE INFORMATION (AS DEFINED BELOW) WILL BE DELIVERED.
YOU ARE WAIVING YOUR RIGHTS BY AGREEING TO THE TERMS BELOW AND PARTICIPATING IN THE TOKEN SALE (AS DEFINED BELOW). BY PARTICIPATING IN THE TOKEN SALE YOU ARE AGREEING TO HAVE NO RECOURSE, CLAIM, ACTION, JUDGEMENT OR REMEDY AGAINST TYCOON TRADING LIMITED IF THE UTILITY OF THE TOKENS OR IF THE PROJECT DESCRIBED IN THE AVAILABLE INFORMATION IS NOT DELIVERED OR REALISED.
IF YOU ARE UNCERTAIN AS TO ANYTHING IN THE AVAILABLE INFORMATION OR YOU ARE NOT PREPARED TO LOSE ALL MONIES THAT YOU SPEND PURCHASING TOKENS, WE STRONGLY URGE YOU NOT TO PURCHASE ANY TOKENS.
WE RECOMMEND YOU CONSULT LEGAL, FINANCIAL, TAX AND OTHER PROFESSIONAL ADVISORS OR EXPERTS FOR FURTHER GUIDANCE BEFORE participating in the token GENERATION EVENT outlined in the AVAILABLE INFORMATION. You are strongly advised to take independent legal advice in respect of the legality in your jurisdiction of your participation in the TOKEN SALE.
TOKENS ARE NOT SHARES OR SECURITIES (AS DEFINED BELOW) OF ANY TYPE. THEY DO NOT ENTITLE YOU TO ANY OWNERSHIP OR OTHER INTEREST IN CURRENT TYCOON TRADING LIMITED. THEY ARE MERELY A MEANS BY WHICH YOU MAY BE ABLE TO UTILIZE THE PLATFORM THAT IS YET TO BE DEVELOPED.
PLEASE READ THE ENTIRETY OF THIS “Legal Considerations, Risks and Disclaimer” SECTION CAREFULLY.
Tycoon Trading Ltd. is referred to as “the company”.
The contents of this “Legal Considerations, Risks and Disclaimer” paper outlines the terms and conditions applicable to you in connection with:
- (i) your use of the Website;
- (ii) your participation in the Token Sale, in each case in addition to any other terms and
conditions that we may publish from time to time relating to the Available Information and the Token Sale (such terms hereinafter referred to as the “Terms”).
The information set forth in this “Legal Considerations, Risks and Disclaimer” paper may not be exhaustive and does not imply any elements of a contractual relationship. While we make every reasonable effort to ensure that the Available Information is accurate and up to date, such material in no way constitutes professional advice.
In this “Legal Considerations, Risks and Disclaimer” paper:
- ● clause, schedule and paragraph headings shall not affect the interpretation of this this “Legal Considerations, Risks and Disclaimer” paper;
- ● a ‘third party’ and a ‘person’ includes a natural person, corporate or unincorporated body (whether or not having separate legal personality) and that person’s personal representatives, successors or permitted assigns;
- ● a reference to a company shall include any company, corporation or other body corporate, wherever and however incorporated or established;
- ● words in the singular shall include the plural and vice versa; and
- ● unless the context otherwise requires, a reference to one gender shall include a reference to the
neuter and the other genders.
The Company has used reasonable endeavours to approach the Token Generation Event in a responsible and sensible manner. Given the legal uncertainty of distributed ledger technologies, businesses and activities as well as cryptocurrencies and cryptocurrency-related businesses and activities in a number of jurisdictions, the Company has spent time and resources to consider its business approach and where it proposes to operate now and in the future. The Company does not accept any responsibility or liability to you regarding the legal qualification of the Token in your jurisdiction. You are strongly advised to take independent legal advice in respect of the legality in your jurisdiction of your participation in the Token Sale and purchase of Tokens. Due to the current uncertain state of regulation relating to distributed ledger technology and token sales across the world, the Company cannot guarantee the legality of the Token Sale or the future business platform to be developed as envisaged by the Available Information or the Company’s ability to develop, structure and license any future Token functionality in every jurisdiction but the Company will use reasonable commercial endeavours to be responsive and compliant in the face of any regulatory inquiry.
The Tokens are functional utility tokens designed for use only on the Company’s business platform that is yet to be developed. The Tokens are not Securities. In the event that you purchase Tokens, your purchase cannot be refunded or exchanged. The Company does not recommend purchasing Tokens for speculative investment purposes. Tokens do not entitle you to any equity, governance, voting or similar right or entitlement in the Company or in any of its affiliated companies. Tokens are sold as digital products, similar to downloadable software, digital music and the like. The Company does not recommend that you purchase Tokens unless you have prior experience with cryptographic tokens, blockchain-based software and distributed ledger technology and unless you have taken independent professional advice.
The Company may choose to make the Available Information available in a number of different languages. In the event of any conflict between the English version of the Available Information and any foreign language version, the English language version will prevail.
Citizens, nationals, residents (tax or otherwise), green card holders and/or Restricted Persons of any Restricted Jurisdiction are not permitted to participate and are expressly prohibited from participating in the Token Generation Event.
The term “Restricted Jurisdiction” means and includes: Belarus, Democratic Republic of Congo, Cuba, Iraq, Iran, Mainland China, North Korea, Sudan, Syria, United States of America and its territories (American Samoa, Guam, the Northern Mariana Islands, Puerto Rico, and the U.S. Virgin Islands), Zimbabwe and any other jurisdiction which prohibits or requires any supervision oversight licensing regulatory compliance legal compliance and/or prior approval from any regulatory (or similar) authority or body or form any monetary or securities body or authority for:
- (a) the possession, dissemination or communication of the Available Information; and/or
- (b) the participation in the Token Generation Event and/or the purchase of Tokens and/or
the offer for sale of the Tokens or any similar activity or product.
The term “Restricted Persons” refers to any firm, company, partnership, trust, corporation, entity, government, state or agency of a state or any other incorporated or unincorporated body or association, association or partnership (whether or not having separate legal personality) that is established and/or lawfully existing under the laws of a Restricted Jurisdiction (including in the case of United States of America, under the federal laws of the United States of America or under the laws of any of its States).
The Tokens are not intended to constitute, and shall not constitute, equities or Securities (of any nature whatsoever) in any jurisdiction. No part of the Available Information shall constitute a prospectus or offer document of any sort and the Available Information is not intended to constitute an offer of Securities or a solicitation for investment in Securities in any jurisdiction. The Company does not provide any opinion or any advice to purchase, sell, or otherwise transact with Tokens and the presentation, publication or communication of all or any part of the Available Information shall not form the basis of, or be relied upon in connection with, any contract or investment decision.
No part of the Available Information should be considered to be business, legal, financial or tax advice regarding the Company, the Tokens, the Token Sale or any of the matters to which all or any part of the Available Information relates. You should consult your own legal, financial, tax or other professional advisor regarding the Available Information. You should be aware that you may be required to bear the financial risk of any purchase of Tokens for an indefinite period of time.
LIMITATION OF LIABILITY
In no event shall the Company or any of their current or former employees, officers, directors, partners, trustees, representative, agents, advisors, contractors, or volunteers of the Company (hereinafter the “Company Representatives”) be responsible or accountable or liable in any way whatsoever to any purchaser of Tokens for any loss of profits or otherwise or for any lost savings or for any incidental, direct, indirect, special or consequential damages in each case arising out of or from or in connection with:
(i) any failure by the Company or any of its affiliated companies to deliver or realise all or any part of the project or the platform or the membership network or the Token features described in or envisaged by the Available Information;
(ii) your use or inability to use at any time the services or the products or the platform or the membership network or Tokens offered by the Company;
(iii) the breach of any of these Terms by the Company or by the Company Representatives or by you or by any third party;
(iv) any security risk or security breach or security threat or security attack or any theft or loss of data including but not limited to hacker attacks, losses of password, losses of private keys, or anything similar;
(v) mistakes or errors in code, text, or images involved in the Token Sale or in any of the Available Information;
(vi) any expectation promise representation or warranty arising (or purportedly arising) from the Available Information;
(vii) the volatility in pricing of Tokens in any countries and/or on any exchange or market (regulated, unregulated, primary, secondary or otherwise);
(viii) the purchase use, sale, resale, redemption or otherwise of the Tokens; or
(ix) your failure to properly secure any private key to a wallet containing Tokens,
(collectively, the “Excluded Liability Matters”).
The Available Information and the Tokens are provided on an “as is” basis and without any representations or warranties of any kind, either express or implied. You assume all responsibility and risk with respect to your use of the Available Information and purchasing of any amount of Tokens and their use. If applicable law does not allow all or any part of the above limitation of liability to apply to you, the limitations will apply to you only to the maximum extent permitted by applicable law.
To the maximum extent permitted by applicable law, you hereby irrevocably and unconditionally waive: (i) all and any claims (whether actual or contingent and whether as an employee, office holder, trustee, agent, principal or in any other capacity whatsoever or howsoever arising) including, without limitation, claims for or relating to the Excluded Liability Matters, any payment or repayment of monies, indemnity or otherwise that you may have against the Company or against any of the Company
(ii) release and discharge the Company and all of the Company Representatives from any and all
liability (of whatsoever nature or howsoever arising) it or they may have to you. If for any reason you hereafter bring or commence any action or legal proceeding in respect of any claim purported to be released and discharged pursuant to this paragraph or these Terms, or otherwise attempt to pursue any such claim against the Company or any Company Representative then you hereby irrevocably and unconditionally undertake to indemnify, and keep indemnified the Company and all Company Representatives fully on demand from and against:
- (a) all liabilities or losses suffered by the Company or any Company Representative;
- (b) all reasonable costs, charges and reasonable expenses (including without
limitation reasonable legal costs and expenses) reasonably and properly incurred by the Company or any Company Representative,
in each case by reason of or in connection with the bringing or commencement of such action or pursuit of such claim by you.
If any provision or part-provision of this “Legal Considerations, Risks and Disclaimer” section is or becomes invalid, illegal or unenforceable, it shall be deemed modified to the minimum extent necessary to make it valid, legal and enforceable. If such modification is not possible, the relevant provision or part-provision shall be deemed deleted. Any modification to or deletion of a provision or part-provision under this “Legal Considerations, Risks and Disclaimer” section shall not affect the validity and enforceability of the rest of this “Legal Considerations, Risks and Disclaimer” section.
The aggregate combined liability of the Company arising out of or related to this “Legal Considerations, Risks and Disclaimer” section and/or the Tokens, whether arising out of or as a result of breach of contract, tort or otherwise, shall not exceed the total amount paid by the purchaser for the Tokens.
NO REPRESENTATION & WARRANTIES
Notwithstanding any other provision of these Terms or any statement made expressly or impliedly in the Available Information, the Company does not make or purport to make, and hereby disclaims, any representation warranty undertaking or covenant in any form whatsoever to any entity or person, including any representation warranty undertaking or covenant in relation to the truth, accuracy and completeness of any of the information set out in the Available Information.
REPRESENTATION & WARRANTIES BY YOU
By howsoever accessing and/or accepting possession or communication of all or any part of the Available Information, you represent and warrant (and shall be deemed to represent and warrant) to the Company on the date of such access or on the latest date on which you retain possession of all or any part of the Available Information as follows:
(a) you are over 18 (eighteen) years of age;
(b) you agree and acknowledge that the Tokens do not constitute shares or equities or Securities or Financial Instruments or investments in any form in any jurisdiction;
(c) you agree and acknowledge that the Available Information does not constitute a prospectus or offer document of any sort and is not intended to constitute an offer of Securities in any jurisdiction or a solicitation for investment in Securities and you are not bound to enter into any contract or binding legal commitment and no cryptocurrency or other form of payment is to be accepted on the basis of the Available Information;
(d) you agree and acknowledge that no regulatory authority has examined or approved of the Available Information, no action has been or will be taken under the laws, regulatory requirements or rules of any jurisdiction and the publication, distribution or dissemination of all or any part of the Available Information to you does not imply that the applicable laws, regulatory requirements or rules have been complied with;
(e) you agree and acknowledge that the Available Information, the undertaking and/or the completion of the Token Sale, or future trading of the Tokens on any exchange or market (regulated, unregulated, primary, secondary or otherwise), shall not be construed, interpreted or deemed by you as an indication of the merits of the Company, the Tokens, the Token Generation Event or the Available Information;
(f) the distribution or dissemination of the Available Information any part thereof or any copy thereof, or acceptance of the same by you, is not prohibited or restricted by the applicable laws, regulations or rules in your jurisdiction, and where any restrictions in relation to possession are applicable, you have observed and complied with all such restrictions at your own expense and without liability to the Company;
(g) you agree and acknowledge that in the case where you wish to purchase any Tokens, the Tokens are not to be construed, interpreted, classified or treated as:
(i) any kind of currency or commodity;
(ii) debentures, stocks or shares issued by any person or entity (whether the Company or otherwise);
(iii) rights, options or derivatives in respect of such debentures, stocks or shares; (iv) rights under a contract for differences or under any other contract the purpose or pretended purpose of which is to secure a profit or avoid a loss;
units in a collective investment scheme;
units in a business trust;
derivatives of units in a business trust; any other security or class of Securities; or
any type of investment (as such term is defined by the Financial Services
or access the Available Information if you are a citizen, national, resident (tax or otherwise) and/or green card holder of a Restricted Jurisdiction or if you are a Restricted Person;
(i) you have a basic degree of understanding of the operation, functionality, usage, storage, transmission mechanisms and other material characteristics of cryptocurrencies, blockchain- based software systems, cryptocurrency wallets or other related token storage mechanisms, blockchain technology and smart contract technology;
(j) you are fully aware and understand that in the case where you wish to purchase any Tokens, there are risks associated with: (A) the Company and its business and operations; (B) the Tokens; (C) the Token Sale; and (D) relying or acting on all or any part of the Available Information;
(k) you agree and acknowledge that the Company is not liable for any direct indirect special incidental consequential or other losses of any kind in tort contract or otherwise (including but not limited to loss of revenue income or profits or loss of use or data or loss of reputation or loss of any economic or other opportunity of whatsoever nature or howsoever arising) arising out of or in connection with any acceptance of or reliance on the Available Information or any part thereof by you;
(l) you agree and acknowledge that the Tokens have no economic or other value at any point prior to the moment that the Token is capable of being used on the Company’s business platform;
(m) you agree and acknowledge that title (both legal or beneficial) and any further ownership interests of any nature whatsoever (including those capable of being imposed by way of constructive trust) relating to any Tokens shall not be transferred to you until the moment that such Tokens are delivered by the Company to you and shown to be credited in your cryptocurrency wallet; and
(n) all of the above representations and warranties are true, complete, accurate and not misleading from the time of your last access to and/or possession of (as the case may be) the Available Information.
you are fully aware of and understand that you are not eligible to purchase any Tokens
CAUTIONARY NOTE ON FORWARD-LOOKING STATEMENTS
All statements contained in the Available Information, statements made in any press releases or in any place accessible by the public and oral statements that may be made by the Company or the Company Representatives (as the case may be), that are not statements of historical fact, constitute “forward looking statements”. Some of these statements can be identified by forward-looking terms such as “aim”, “target”, “anticipate”, “believe”, “could”, “estimate”, “expect”, “if”, “intend”, “may”, “plan”, “possible”, “probable”, “project”, “should”, “would”, “will” or other similar terms. However, these terms are not the exclusive means of identifying forward-looking statements. All statements regarding the Company’s financial position, business strategies, plans and prospects and the future prospects of the industry which the Company is in are forward-looking statements. These forward-looking statements, including but not limited to statements as to the Company’s revenue profitability and growth, expected revenue profitability and growth, prospects, future plans, other expected industry trends and other matters discussed in the Available Information regarding the Company are matters that are not historic facts, but only estimations and predictions. The Company makes no representation or warranty on having made any predictions or estimates or expectations on the basis of any formula, any mathematical or scientific modelling or forecast, or having made any due and proper enquiries or having undertaken any independent research or studies or otherwise. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual future results, performance or achievements of the Company to be materially different from any future results, performance or achievements expected, expressed or implied by such forward-looking statements. These factors include, amongst others:
(a) changes in legal, political, social, economic, and stock or cryptocurrency market conditions and the regulatory environment in the countries in which the Company conducts its Token Sale its business and/or its operations;
(b) the risk that the Company may be unable or execute or implement its business strategies and future plans;
(f) changes in the availability and salaries of employees who are required by the Company to operate its business and operations;
changes in interest rates and exchange rates of fiat currencies and cryptocurrencies; changes in the anticipated growth strategies and expected internal growth of the Company;
changes in the availability and fees payable to the Company in connection with its business and
(g) changes in preferences of customers of the Company;
(h) changes in competitive conditions under which the Company operates, and the ability of the Company to compete under such conditions;
(i) changes in the future capital needs of the Company and the availability of financing and capital to fund such needs;
- (j) war or acts of international or domestic terrorism;
- (k) occurrences of catastrophic events, natural disasters and acts of God that affect the businesses
and/or operations of the Company;
(l) other factors beyond the control of the Company; and
(m) any risk and uncertainties associated with the Company and its business and operations, the Tokens, the Token Sale and reliance on all or any part of the Available Information.
All forward-looking statements made by or attributable to the Company or Company Representatives are expressly qualified in their entirety by such factors. Given that risks and uncertainties that may cause the actual future results, performance or achievements of the Company to be materially different from that expected, expressed or implied by the forward-looking statements in the Available Information, undue reliance must not be placed on these statements.
These forward-looking statements are applicable only as of the later of the Available Information. Neither the Company nor the Company Representatives nor any other person represents, warrants and/or undertakes that the actual future results, performance or achievements of the Company will be as discussed in those forward-looking statements. The actual results, performance or achievements of the Company may differ materially from those anticipated in these forward-looking statements.
Nothing contained in the Available Information is or may be relied upon as a promise, representation or undertaking as to the future performance or policies of the Company. Further, the Company disclaims any responsibility to update any of those forward-looking statements or publicly announce any revisions to those forward-looking statements to reflect future developments, events or circumstances, even if new information becomes available or other events occur in the future.
You should carefully consider and evaluate each of the following risk factors and all other information contained in these Terms before deciding to participate in the Token Sale. To the best of the Company’s knowledge and belief, all risk factors which are material to you in making an informed judgment to participate in the Token Generation Event have been set out below. If any of the following considerations, uncertainties or material risks develops into actual events, the business, financial position and/or results of operations of the Company and the maintenance and level of usage of the Tokens could be materially and adversely affected. In such cases, the trading price of Tokens (in the case where they are listed on an exchange or market (regulated, unregulated, primary, secondary or otherwise)) could decline due to any of these considerations, uncertainties or material risks, and you may lose all or part of your Tokens or the economic value thereof.
RISKS RELATING TO PARTICIPATION IN THE TOKEN SALE
There is no prior market for Tokens and the Token Sale may not result in an active or liquid market for the Tokens.
Prior to the Token Generation Event, there has been no public market for the Tokens. In the event that the Company ever decides to seek the approval for availability of the Tokens for trading on a cryptocurrency exchange or market, there is no assurance that such approval will be obtained. Furthermore, even if such approval is granted by a cryptocurrency exchange, there is no assurance that an active or liquid trading market for the Tokens will develop, or if developed, will be sustained after the Tokens have been made available for trading on such market. There is also no assurance that the market price of the Tokens will not decline below the original or issue purchase price (the “Purchase Price”). The Purchase Price may not be indicative of the market price of the Tokens after they have been made available for trading on a market.
A Token is not a currency issued by any central bank or national, supra-national or quasi-national organisation, nor is it backed by any hard assets or other credit nor is it a commodity in the traditional sense of that word. The Company is not responsible for, nor does it pursue, the circulation and trading of Tokens on any market. Trading of Tokens will merely depend on the consensus on its value between the relevant market participants. No one is obliged to purchase any Token from any holder of the Token, including the purchasers, nor does anyone guarantee the liquidity or market price of Tokens to any extent at any time. Furthermore, Tokens may not be resold to purchasers who are citizens, nationals, residents (tax or otherwise) and/or green card holders of Restricted Jurisdictions or to Restricted Persons or to purchasers in any other jurisdiction where the purchase of Tokens may be in violation of applicable laws. Accordingly, the Company cannot ensure that there will be any demand or market for Tokens, or that the Purchase Price is indicative of the market price of Tokens after they have been made available for trading on any cryptocurrency exchange or market.
Future sales or issuance of the Tokens could materially and adversely affect the market price of Tokens.
Any future sale or issuance of the Tokens would increase the supply of Tokens in the market and this may result in a downward price pressure on the Token. The sale or distribution of a significant number of Tokens outside of the Token Sale (including but not limited to issuance of Tokens to persons other than purchasers for purposes of community initiatives, business development, academic research, education and market expansion and issuance of Tokens as a reward to users of the Company’s business platform that is yet to be developed or otherwise), or the perception that such further sales or issuance may occur, could adversely affect the trading price of the Tokens.
Negative publicity may materially and adversely affect the price of the Tokens.
Negative publicity involving the Company, the Company’s business platform that is yet to be developed, the Tokens or any of the key personnel of the Company and/or regulation of distributed ledger technologies, cryptocurrencies and/or crowdsales of tokens in any jurisdiction, may materially and adversely affect the market perception or market price of the Tokens, whether or not it is justified.
There is no assurance of any success of the Company’s Token Sale or business platform that is yet to be developed as envisaged by the Available Information.
The value of, and demand for, the Tokens hinges heavily on the performance of the Company’s Token Sale and business platform that is yet to be developed and the continuous active engagement of its users and success of its contemplated business lines. There is no assurance that the Company’s Token Sale will be successful or that its business platform that is yet to be developed will gain or continue to gain traction. While the Company has made every effort to provide a realistic estimate, there is also no assurance that the cryptocurrencies raised in the Token Sale will be sufficient for the development of the Company’s platform. For the foregoing or any other reason, the development of the Company’s platform and launch of the anticipated Token functionality may not be completed and there is no assurance that it will be launched at all. As such, distributed Tokens hold no value at the time of delivery of the same to you.
The trading price of the Tokens may fluctuate following the Token Sale.
The prices of cryptographic tokens in general tend to be relatively volatile, and can fluctuate significantly over short periods of time. The demand for, and the corresponding market price of, the Tokens may fluctuate significantly and rapidly in response to, among others, the following factors, some of which are beyond the control of the Company:
(a) new technical innovations;
(b) analysts’ speculations, recommendations, perceptions or estimates of the Token’s market price or the Company’s financial and business performance;
(c) changes in market valuations and token prices of entities with businesses similar to that of the Company that may be listed on the same cryptocurrency exchanges or markets as the Tokens;
(d) announcements by the Company of significant events, for example partnerships, sponsorships or new product developments;
(e) fluctuations in market prices and trading volume of cryptocurrencies on cryptocurrency exchanges or markets;
- (f) additions or departures of key personnel of the Company;
- (g) success or failure of the Company’s management in implementing business and growth
(h) changes in conditions affecting the blockchain or financial technology industry, the general economic conditions or market sentiments, or other events or factors.
The funds raised in the Token Sale are exposed to risks of theft.
The Company will make every effort to ensure that the funds received for the Token Sale will be securely held. Further, the Company may make every effort to ensure that the funds received by it from the Token Sale will be securely held through the implementation of security measures. Notwithstanding such security measures, there is no assurance that there will be no theft of the cryptocurrencies as a result of hacks, sophisticated cyber-attacks, distributed denials of service or errors, vulnerabilities or defects on the Token Sale website, in the smart contract(s) on which the Token Sale relies, on the Ethereum blockchain or any other blockchain, or otherwise. Such events may include, for example, flaws in programming or source code leading to exploitation or abuse thereof. In such event, even if the Token sale is completed, the Company may not be able to receive the cryptocurrencies raised and the Company may not be able to use such funds for the development of the Company’s business platform. In such case, the launch of the Company’s business platform might be temporarily or permanently curtailed. As such, distributed Tokens hold no value at the time of delivery of the same to you.
RISKS RELATING TO THE COMPANY
The Company’s business platform that is yet to be developed.
Any events or circumstances which adversely affect the Company or any of its successor or affiliated operating entities may have a corresponding adverse effect on the Company’s business platform that is yet to be developed, including but not limited to the development, structuring and launch of the Company’s business platform. Such adverse effects would correspondingly have an impact on the utility, liquidity, and the trading price of the Tokens.
The Company may be materially and adversely affected if it fails to effectively manage its operations as its business develops and evolves, which would have a direct impact on its ability to develop, maintain or operate the Company’s business platform and/or develop, structure and/or license any Token functionality.
The financial technology and cryptocurrency industries in which the Company competes have grown rapidly over the past few years and continue to evolve in response to new technological advances, changing business models, shifting regulations and other factors. As a result of this constantly changing environment, the Company may face operational difficulties in adjusting to the changes, and the sustainability of the Company will depend on its ability to manage its operations, ensure that it hires qualified and competent employees, and provides proper training for its personnel. As its business evolves, the Company must also expand and adapt its operational infrastructure. The Company’s business will in part rely on its software systems, cryptocurrency wallets or other related token storage mechanisms, blockchain technology and smart contract technology. All of these systems, tools,
and skillsets represent complex, costly, and rapidly changing technical infrastructure. In order to demonstrate continued ability to effectively manage technical support infrastructure for the Company’s business platform that is yet to be developed and the future functionality of the Tokens, the Company will need to continue to upgrade and improve its data systems and other operational systems, procedures, and controls. These upgrades and improvements will require a dedication of resources and are likely to be complex and increasingly rely on hosted computer services from third parties that the Company does not or will not control. If the Company is unable to adapt its systems and organisation in a timely, efficient, and cost-effective manner to accommodate changing circumstances, its business, financial condition and/or results of operations may be adversely affected. If the third parties whom the Company relies on are subject to a security breach or otherwise suffer disruptions that impact the services the Company uses, the integrity and availability of its internal information could be compromised, which may consequently cause the loss of confidential or proprietary information and/or economic loss. The loss of financial, labour or other resources, and any other adverse effect on the Company’s business, financial condition and/or operations, would have a direct adverse effect on the Company’s ability to develop maintain or operate the Company’s business platform and/or to develop, structure and/or license the anticipated Token functionality. Any adverse effects affecting the Company business or technology are likely to also adversely impact the utility, liquidity, and trading price of the Tokens.
The Company may experience system failures, unplanned interruptions in its network or services, hardware or software defects, security breaches or other causes that could adversely affect the Company’s infrastructure network, and/or the Company’s business platform that is yet to be developed.
The Company is not able to anticipate when there would be occurrences of hacks, cyber-attacks, distributed denials of service or errors, vulnerabilities or defects in: the Company’s business platform that is yet to be developed, in the smart contracts on which the Company or the Company’s business platform relies, or on the Ethereum or any other blockchain. Such events may include, for example, flaws in programming or source code leading to exploitation or abuse thereof. The Company may not be able to detect such hacks, cyber-attacks, distributed denials of service errors vulnerabilities or defects in a timely manner, and may not have sufficient resources to efficiently cope with multiple service incidents happening simultaneously or in rapid succession.
The Company’s network or services, which would include the Company’s business platform that is yet to be developed and, if successfully structured, developed, licensed and launched, the Token functionality, could be disrupted by numerous events, including natural disasters, equipment breakdown, network connectivity downtime, power losses, or even intentional disruptions of its services, such as disruptions caused by software viruses or attacks by unauthorized users, some of which are beyond the Company’s control. There can be no assurance that cyber-attacks, such as distributed denials of service, will not be attempted in the future or that the Company’s security measures will be effective. The Company may be prone to attacks on its infrastructure intended to steal information about its technology, financial data or user information or take other actions that would be damaging to the Company and/or holders of the Tokens. Any significant breach of the Company’s security measures or other disruptions resulting in a compromise of the usability, stability, and security of the Company’s business platform that is yet to be developed may adversely affect the utility, liquidity and/or trading price of the Tokens.
General global market and economic conditions may have an adverse impact on the Company’s operating performance, results of operations and/or cash flows.
The Company could continue to be affected by general global economic and market conditions. Challenging economic conditions worldwide have from time to time, contributed, and may continue to contribute, to slowdowns in the information technology industry at large. Weakness in the economy could have a negative effect on the Company’s business, operations and financial condition, including decreases in revenue and operating cash flows, and inability to attract future equity and/or debt financing on commercially reasonable terms. Additionally, in a down-cycle economic environment, the Company may experience the negative effects of a slowdown in trading and usage of the Company’s business platform that is yet to be developed and may delay or cancel the development, structuring, licensing and/or launch of the anticipated Token functionality.
Suppliers on which the Company relies for servers, bandwidth, location and other services could also be negatively impacted by economic conditions that, in turn, could have a negative impact on the Company’s operations or expenses. There can be no assurance, therefore, that current economic conditions or worsening economic conditions or a prolonged or recurring recession will not have a significant, adverse impact on the Company’s business, financial condition and results of operations, and hence, the Company’s business platform that is yet to be developed and/or the ability to develop, structure, license and/or launch any Token functionality. Any such circumstances would then correspondingly negatively impact the utility, liquidity, and/or trading price of the Tokens.
The Company or the Tokens may be affected by newly implemented regulations.
Distributed ledger technologies, businesses and activities as well as cryptocurrencies and cryptocurrency- related businesses and activities are generally unregulated worldwide, but numerous regulatory authorities across jurisdictions have been outspoken about considering the implementation of regulatory regimes which govern distributed ledger technologies, businesses and activities as well as cryptocurrencies and cryptocurrency-related businesses and activities. The Company or the Tokens may be affected by newly implemented regulations relating to distributed ledger technologies, businesses and activities as well as cryptocurrencies and cryptocurrency-related businesses and activities, including having to take measures to comply with such regulations, or having to deal with queries, notices, requests or enforcement actions by regulatory authorities, which may come at a substantial cost and may also require substantial modifications to the Company’s business platform that is yet to be developed and/or the anticipated Token functionality. This may impact the appeal or practicality or functionality of the Company’s business platform that is yet to be developed and/or the anticipated Token functionality for users and result in decreased usage of and demand for the Company’s business platform and the Tokens. Further, should the costs (financial or otherwise) of complying with such newly implemented regulations exceed a certain threshold, maintaining the Company’s business platform that is yet to be developed and/or developing, structuring, licensing and/or launching the Token functionality may no longer be commercially viable, and the Company may opt to discontinue the Company’s business platform that is yet to be developed and/or the anticipated Token functionality, and/or the Tokens. Further, it is difficult to predict how or whether governments or regulatory authorities may implement any changes to laws and regulations affecting distributed ledger technology and its applications, including the Company’s business platform that is yet to be developed and/or the anticipated Token functionality, and/or the Tokens.
The Company may also have to cease operations in a jurisdiction that makes it illegal to operate in such jurisdiction, or make it commercially unviable or undesirable to obtain the necessary regulatory approval(s) to operate in such jurisdiction. In scenarios such as the foregoing, the utility, liquidity, and/or trading price of Tokens will be adversely affected and/or Tokens may cease to be traded.
There may be unanticipated risks arising from the Tokens.
Cryptographic tokens such as the Tokens are a relatively new and dynamic technology. In addition to the risks included in the above discussion of risk factors, there are other risks associated with your purchase, holding, and use of the Tokens, including those that the Company cannot anticipate. Such risks may further appear as unanticipated variations or combinations of the risks discussed above.
By purchasing Tokens, you agree to your personal data, (i.e., your e-mail address, name, address and other details personal to you) being processed by the Company for its business purposes or the purposes of building, promoting, and communicating (about) the Company’s business platform that is yet to be developed and the Tokens. The Company agrees to keep your email address and other personal dataprivate and not share it with the public (e.g., by including it on any external lists or selling to any third parties).
The presentation of the Available Information is solely for informational purposes. Anyone interested in purchasing Tokens and participating in the Token Sale should consider the various risks prior to making any kind of decision in respect of the Token Generation Event. The Available Information does not comprise any advice by the Company or by the Company Representatives, or any recommendation to any recipient of the Available Information, by the virtue of any participation in the Token Sale or otherwise. The Available Information does not necessarily identify, or claim to identify, all the risk factors connected with the Company, the Company’s business platform that is yet to be developed, the Tokens, the Token Generation Event, any future Token functionality or the Available Information. All the participants must make their own independent evaluation, after making such investigations as they consider essential, of the merits of participating in the Token Sale and after taking their own independent professional advice. Any participant in the Token Sale should check with and rely upon their own investment, accounting, legal and tax representatives and consultants in respect of such matters concerning the Company, the Company’s business platform that is yet to be developed, the Tokens, the Token Sale, any future Token functionality and the Available Information and to assess separately the financial risks, consequences and appropriateness of the purchase of Tokens, or if in any doubt about the facts set out in the Available Information. A purchase of Tokens comprises considerable risk and might involve extraordinary risks that may lead to a loss of all or a significant portion of monies or monetary value utilised to acquire Tokens. Participants in the Token Sale are urged to completely understand, be aware of and accept the characteristics of the Company, the Company’s business platform that is yet to be developed, the Tokens, the Token Sale, any future Token functionality and the Available Information. If you are not prepared to accept any or all of these Terms or the risks set out in these Terms then you are urged not to participate in the Token Sale. No guarantee or assurance is given by the Company or by the Company Representatives that the Company’s proposals, objectives and/or outcomes set out in the Available Information will be achieved in whole or in part. You are urged to consider whether participation in the Token Generation Event is suitable for you having regard to your personal and financial circumstances and your financial resources.
RESTRICTIONS ON DISTRIBUTION AND DISSEMINATION OF THE AVAILABLE INFORMATION
The distribution or dissemination howsoever of all or any part of the Available Information may be prohibited or restricted by the laws, regulatory requirements and rules of certain jurisdictions. In the case where any such restriction applies, you are responsible for informing yourself in respect of the same and for observing any such restrictions which are applicable to your possession and/or dissemination of all or any part of the Available Information at your own expense and without liability to the Company.
NO OFFER OF SECURITIES OR REGISTRATION
No part of the Available Information constitutes a prospectus or offer document of any sort and is not intended to constitute an offer of Securities or a solicitation for investment in Securities in any jurisdiction. No person is bound to enter into any contract or binding legal commitment and no cryptocurrency or other form of payment is to be accepted on the basis of all or any part of the Available Information. Any agreement in relation to any sale and purchase of Tokens is to be governed by the terms and conditions of such agreement and no other document. In the event of any inconsistencies between the terms and conditions of that agreement and the Available Information, those terms and conditions shall prevail.
You are not eligible to purchase any Tokens in the Token Sale if you are a citizen, resident (tax or otherwise) or green card holder of a Restricted Jurisdiction or you are a Restricted Person. No regulatory authority has examined or approved of any of the Available Information. No such action has been or will be taken under the laws, regulatory requirements or rules of any jurisdiction. The publication, distribution or dissemination of the Available Information does not imply that the applicable laws, regulatory requirements or rules have been complied with.
Terms and Conditions
1) Scope of Application
1.1 These General Terms and Conditions (hereinafter referred to as “GTC”) of the company Tycoon Trading Ltd. (hereinafter referred to as “Seller”) shall apply to all contracts concluded between a natural Person (hereinafter referred to as “Client”) and the Seller relating to all goods and/or services presented in the Seller’s online shop. The inclusion of the Client’s own conditions is herewith objected to unless other terms have been stipulated.
1.2 A client pursuant to these GTC is any natural person concluding a legal transaction for a purpose attributed neither to a mainly commercial nor a self-employed occupational activity.
1.3 Digital content in the sense of these GTC is all data not on a tangible medium which are produced in digital form and are supplied by the Seller by granting certain usage rights precisely defined in these GTC.
2) Conclusion of the Contract
2.1 The product descriptions in the Seller’s online shop do not constitute binding offers on the part of the Seller, but merely serve the purpose of submitting a binding offer by the Client.
2.2 The Client may submit the offer via the online order form integrated into the Seller’s online shop. In doing so, after having placed the selected goods and/or services in the virtual basket and passed through the ordering process, and by clicking the button finalizing the order process, the Client submits a legally binding offer of contract with regard to the goods and/or services contained in the shopping cart.
2.3 The Seller may accept the Client’s offer within five days,
– by transferring a written order confirmation or an order confirmation in written form (fax or e-mail); insofar receipt of order confirmation by the Client is decisive, or
– by delivering ordered goods to the Client; insofar receipt of goods by the Client is decisive, or
– by requesting the Client to pay after he placed his order.
Provided that several of the aforementioned alternatives apply, the contract shall be concluded at the time when one of the aforementioned alternatives firstly occurs. Should the Seller not accept the Client’s offer within the aforementioned period of time, this shall be deemed as rejecting the offer with the effect that the Client is no longer bound by his statement of intent.
2.4 When submitting an offer via the Seller’s online order form, the text of the contract is stored by the Seller after the contract has been concluded and transmitted to the Client in text form (e.g. e-mail, fax or letter) after the order has been sent. The Seller shall not make the contract text accessible beyond this.
2.5 Prior to submitting a binding order via the Seller’s online order form, the Client may recognize input errors by reading attentively the information displayed on the screen. The enlargement function of the browser to enlarge the display on the screen may be an effective method for better recognizing input errors.
The Client can correct all the data entered via the usual keyboard and mouse function during the electronic ordering process, until he clicks the button finalizing the ordering process.
2.6 The English language is exclusively available for the conclusion of the contract.
2.7 Order processing and contacting usually takes place via e-mail and automated order processing. It is the Client’s responsibility to ensure that the e-mail address he provides for the order processing is accurate so that e-mails sent by the Seller can be received at this address. In particular, it is the Client’s responsibility, if SPAM filters are used, to ensure that all e-mails sent by the Seller or by third parties commissioned by the Seller with the order processing can be delivered.
3) Contractual object and essential characteristics of the products
3.1 The contract object is the purchase of Tycoon Tokens. The functioning of the Tycoon Token is described in the respective Whitepaper.
3.2 The Client intends to support the development of the Tycoon platform.
Concrete details on the offered services can be found in the Whitepaper.
The essential features of services can also be found in the Whitepaper.
Limitations apparent for the sale of the services or otherwise resulting from the circumstances, in particular those pertaining to hardware and / or software requirements for the target environment also result from the Whitepaper.
3.3 The minimum order quantity is 2.000 Tycoon Token.
4) Use of the financial aid
4.1 The Seller confirms that the financial aid is used mainly for the preparation of the crowdsale and the development of the Tycoon platform according to the separate Roadmap.
The Client will receive no grants from the Seller or third parties in excess of the agreed upon amount of tokens, see order.
6) Registration process
After successful registration, the Seller receives a separate account on the platform where he can view his tokens.
7) Website content and accessibility
The contents of the website are carefully compiled and maintained by the Seller. Nevertheless, errors may occur, so that the accuracy of the contents of Tycoon can not be guaranteed.
The Seller commits himself to providing the highest technological standards. However, it can not be ruled out that errors will occur in hardware and / or software, which may affect the accessibility of Tycoon’s services. Consistent accessibility and availability can not be guaranteed by Tycoon.
8) Offsetting, right of retention
Offsetting and the assertion of a right of retention on the part of the Client are excluded.
9) Notes on data processing
The Seller collects personal data of the Client in the context of the contractual relationship. He observes the regulations of the Federal Data Protection Act and the Telemedia Act. Without the consent of the Client, the Seller will solely collect, process or use inventory and usage data to the extent necessary for processing, use and billing.
The Client has the opportunity to request a copy of the data stored on him at any time. Deletion requests are to be sent to the email address provided in the imprint or in writing.
11) Arbitration Clause
If the Client is not a consumer, all disputes arising out of this contract or resulting from its validity, shall be finally ruled out according to the Rules of Arbitration of Iudica.me (https://iudica.me) under exclusion of the ordinary due process of law. A consumer is also entitled, but not obliged, to choose this course of law. The legal dunning procedure remains permissible for entrepreneurs as well as consumers. This agreement is subject to the laws of the Republic of Cyprus. The application of the UN Convention on Contracts for the International Sale of Goods (CISG) is excluded.
12) Final Provisions
12.1 The inclusion and interpretation of these Terms and Conditions, as well as the conclusion and interpretation of the legal transactions with the donor, are governed solely by the law of the Federal Republic of Germany. Application of the international uniform law, in particular the UN sales law is excluded.
12.2 The legal venue is the place of jurisdiction in the registered office of the Seller, insofar as the Client is a merchant, a legal entity under public law or a special fund under public law. The Seller is also entitled to sue in a court having jurisdiction over the registered office or branch of the Client.
12.3 The invalidity of individual provisions of this contract or its components shall not affect the validity of the remaining provisions. The Clients are obliged, within the scope of reasonable good faith, to replace any ineffective provision by an effective provision that is equivalent to its economic success, provided that no substantial change of the contract is brought about; the same applies if a situation requiring provision is not expressly regulated.
13) Prices and Payment Conditions
13.1 Unless otherwise stated in the Seller’s product description, prices indicated are total prices including the statutory sales tax.
13.2 Payment can be made using one of the methods mentioned in the Seller’s online shop.
14) Reservation of Proprietary Rights
If the Seller provides advance deliveries, he retains title of ownership to the delivered goods, until the purchase price owed has been paid in full.
15) Warranty & Disclaimer
Some jurisdictions may not permit the exclusion of certain warranties. To the extent applicable local law specifically and expressly prohibits such exclusions, those such exclusions set forth below may not apply to you.
This site and all contents of the site are provided on an ‘as is’ basis without warranties of any kind, either express or implied, including, without limitation, warranties of title, noninfringement, implied warranties of merchantability, or fitness for a particular purpose. You acknowledge, by your use of the site, that your use of the site is at your sole risk, that you assume full responsibility for all costs associated with all necessary servicing or repairs of any equipment you use in connection with your use of our site, and that Tycoon shall not be liable for any damages of any kind related to your use of this site.
16) Affiliate Program
In this chapter “you”, “your”, or “referrer” refer to you or any agent, contractor, employee, servant, or person authorized to act on your behalf. “We”, “us” and “our” refer to Tycoon.
Anyone located in or resident of the United States of America, Québec (Canada) and any other restricted jurisdiction is prohibited from:
- acting as an affiliate of Tycoon;
- making any affiliates as an affiliate to Tycoon; and
- receiving any commission(s) otherwise due to an affiliate that is not located in or a resident of a restricted jurisdiction. Anyone referred to Tycoon by anyone located or resident in the United States of America, Québec (Canada) or another restricted jurisdiction or by any other non-permitted affiliate will not receive any fee discount from Tycoon.
USERS IN, Belarus, Democratic Republic of Congo, Cuba, Iraq, Iran, Mainland China, North Korea, Sudan, Syria, United States of America and its territories (American Samoa, Guam, the Northern Mariana Islands, Puerto Rico, and the U.S. Virgin Islands), Zimbabwe., or any other jurisdiction where the services offered by Tycoon are restricted are also prohibited from participating in the affiliate program.
16.1 Description of the Affiliate Program
To enroll and participate in the Affiliate Program, you must be a natural person (and not any corporate or entity, partnerships of any type or form, trust or any entity, program or protocol that is partly or wholly based on or executing artificial intelligence or machine learning programs or protocols) and have an active Tycoon account (Account on www.shop.tycoon.io), subject to and in compliance with the requirements of any agreements you have with Tycoon. After registration, you can take part in the Affiliate Program using your personalized Affiliate Link, which is shown after login into your account.
The Tycoon Affiliate Program allows you to advertise the Tycoon Token Sale. If a third person (Referee) buys Tycoon Token using your Affiliate Link, you earn 15 percent of the purchase in Bonus Tycoon Token (TYC). The Referee gets 15 percent of his purchase as Bonus Tycoon Tokens. This Affiliate Program is active until 28.02.2021.
Also you can earn Bonus Tycoon Token if you reach Rank Achievements. Which are defined as follows: If your own purchasing volume and the volume of your referred friends reaches $5,000 (your total volume) you will earn an additional $500 worth of Tycoon Tokens as a bonus. This bonus is repeatablÄe. So for every $5,000 volume you will get $500 worth of Tycoon Tokens. The own purchase volume and volume of referees include all completed orders up to January 31, 2021. Any order that was completed after January 31, 2021, does not count towards the total volume.
16.2 Affiliate Restrictions
You acknowledge and agree that you shall not:
- Bid on terms in any search engine that mention Tycoon, Tycoon.com or any of its derivatives and misspellings, Tycoon with keywords such as but not limited to “Tycoon coupons”, “Tycoon promos”, “Tycoon promotions”;
- Engage in activities that Tycoon determines, in its sole discretion, to be harmful to its customers, employees, operations, or reputation; or
- Design or use your platform, web site or publishing location to market Tycoon’s services or platform to any person whose enrollment with or use of Tycoon’s platform would violate Tycoon’s Terms of Service.
You also acknowledge and agree that your web site or publishing location shall not:
- Contain false, inaccurate or misleading information about Tycoon Token Sale;
- In any way copy or resemble the look and feel of Tycoon’s web site or Token Sale nor create the impression that Your web site or publishing location is part of Tycoon’s network of web sites;
- Engage in sending unsolicited commercial email (“spam”) or indiscriminate advertising;
- Violate any applicable law such as data transfer, data privacy, data security laws or any securities laws such as offering or promoting Tycoon’s products and services in any jurisdiction in which they would be illegal or publishing or causing to be published any material that may be construed as an offer, solicitation, or recommendation to buy or sell securities or other investment products, or as investment, legal, financial or accounting advice;
- Advocate, promote, or encourage violence or discrimination against any person, organization, or governmental entity;
- Contain Links to web sites containing any of the aforementioned content;
- Cause any account linkage to be made that are not in good faith (such as using any device, program, robot iframes, or hidden frames, use cookie stuffing techniques that set the tracking cookie without the user actually clicking on the affiliate Link, etc.); or
- State or imply that any of the information, content or data contained in your web site or publishing location represents or reflects any views, advice or opinions of Tycoon.
You acknowledge and agree that Tycoon may terminate Services if you, your web site or your publishing location violates, as determined by Tycoon in its sole discretion, any of the aforementioned restrictions or additional restrictions. Tycoon also reserves the right to seek recovery of any or all Commission paid and you hereby agree to such liability and repayment of such Commission if you, your web site or your publishing location violates, as determined by Tycoon in its sole discretion, any of the aforementioned restrictions or additional restrictions.
16.3 Our Responsibility
Tycoon will not be responsible for lost sales or lost opportunity to earn incentives due to any cause (such as technical difficulties or over-capacity including system overload or load shedding) preventing Tycoon from registering any account, accepting deposits, executing trades, closing positions, or providing any other product or service to the Visitor. Tycoon is also responsible for tracking affiliate sales and incentives and providing this information to the referrer via an activity reporting tool available within Tycoon account.