Terms & Condition
Terms & Conditions for the SCI Token
1. Introduction
These Terms & Conditions ("Terms") govern your participation in the SCI token sale ("Token Sale") offered by PoSciDonDAO. By participating in the Token Sale, you agree to be bound by these Terms. If you do not agree to these Terms, you must not participate.
2. Eligibility
2.1. The SCI token is not available to and should not be purchased by persons within the United States or to “U.S. persons” as defined under relevant U.S. laws and regulations. This restriction ensures compliance with applicable laws.
2.2. No entity, person, or corporate body, nor any affiliates or beneficial owners thereof, deemed a “Prohibited Person” may own, buy, or sell the token. A Prohibited Person includes any individual or entity (government, political subdivision, agency, or instrumentality) that is:
(i) A national or resident of, or entity formed under the laws of, any U.S. embargoed or restricted country, including but not limited to those included in the U.S. State Department and the Office of Foreign Assets Controls’ Economic Sanctions Programs;
(ii) A national or resident of, or entity formed under the laws of, Cuba, North Korea, Iran, Libya, South Sudan, Sudan, Syria, or Crimea;
(iii) Listed on the U.S. Commerce Department’s Denied Persons List, Entities List, or Unverified List; the Treasury’s Specially Designated Nationals and Blocked Persons List, or related lists;
(iv) Restricted from business transactions by any U.S. Governmental Authority;
(v) Subject to economic sanctions enforced by the UN, EU, or UK.
3. Token Characteristics
3.1. Participation in the Token Sale does not constitute the exchange of cryptocurrencies for securities, investment units, or ordinary shares in any project, platform, company, or entity.
3.2. The tokens issued are not intended to be securities or collective investment units. Token holders do not receive dividends, revenue rights, nor any other sort of rights to PoscidonDAO’s assets and do not participate in any profit-sharing benefits.
3.3. Tokens are solely for personal use and participants are prohibited from reselling or distributing them as nominees or agents.
4. Participant Representations
By participating in the Token Sale, you represent and warrant that: 4.1. You are legally permitted to participate in the Token Sale under the laws of your jurisdiction.
4.2. You have sufficient knowledge and experience in financial and business matters to evaluate the merits and risks of participation. You are capable of bearing a total loss without impairing your financial condition.
4.3. You understand the risks involved, including but not limited to:
Failure of the token or network to function as intended.
Incomplete or canceled token launch.
Insufficient user interest or governmental investigation.
4.4. You have obtained sufficient information about PoSciDonDAO and the Token Sale to make an informed decision. You possess technical knowledge of cryptographic tokens, smart contracts, token storage, and distributed networks. Further, You are responsible for implementing reasonable measures for securing, if applicable, the wallet, vault or other storage mechanism used to receive and hold Tokens purchased, including any requisite private key(s) or other credentials necessary to access such storage mechanism(s). If the private key(s) or other access credentials are lost, You may lose access to the SCI tokens. PoscidonDAO is not responsible for any such losses.
5. Legal Compliance
5.1. You are responsible for ensuring compliance with any legal requirements, foreign exchange restrictions, consents, and applicable tax obligations in your jurisdiction.
5.2. PoSciDonDAO is not responsible for any violations of law or regulation resulting from your participation in the Token Sale.
5.3. You acknowledge and accept that You shall undergo certain Know Your Customer (“KYC”) or Anti-Money Laundering (“AML”) checks conducted by Persona Identities, Inc., a third-party provider, in order to receive any SCI tokens. PoscidonDAO reserves the right to prohibit participation in the token sale if You fail to satisfy any KYC or AML checks.
6. Risk Disclosure
6.1. Tokens are provided on an “as is” basis with no guarantees regarding functionality or market value.
6.2. Participation in the Token Sale involves significant risks, including but not limited to:
Loss of funds.
Regulatory changes affecting the token’s legality or value.
Technological failures or vulnerabilities.
7. Participant Acknowledgments
By participating in the Token Sale, you acknowledge and confirm that: 7.1. You have consulted with your legal, financial, tax, and investment advisors regarding your participation.
7.2. You agree to bear all risks associated with the Token Sale and waive any claims against PoSciDonDAO for losses or damages.
7.3. You will not use the Tokens in connection with any activity that violates
applicable laws in any relevant jurisdiction, including, but not limited to, use of the SCI tokens in connection with transactions that violate U.S. federal or state securities or commodity laws.
8. Amendments
PoSciDonDAO reserves the right to amend these Terms at any time. Continued participation in the Token Sale constitutes acceptance of the amended Terms.
9. Governing Law
These Terms are governed by the laws of Panama. Any disputes arising out of or relating to these Terms will be resolved exclusively through Alternate Dispute Resolution in the “Centro de Concilacion y Arbitraje de Panama” (CeCAP). Parties shall participate in at least one (1) live or teleconferenced (i.e., using Zoom or a similar videoconferencing software that allows the Parties to communicate in real time) mediation session with an CeCAP neutral. The Parties agree to participate in mediation in good faith and the Parties agree to share equally in the cost of such mediation. Should the dispute not be settled within seven (7) days following the live mediation session, either Party may then commence a binding arbitration administered by the CeCAP under its Commercial Arbitration Rules. A single arbitrator shall preside, and proceedings shall be conducted remotely to the maximum extent possible. Each Party shall pay its own expenses in such arbitration, including its attorneys’ fees, subject to reapportionment by the arbitrator in a final award. The language of the arbitration shall be English. Any interim or provisional relief that would be available from a court of law shall be available in accordance with the rules of CeCAP. The prevailing Party in any proceeding brought by one Party against the other Party and arising out of or in connection with these Terms shall be entitled to recover its legal expenses, including court costs and reasonable attorneys’ fees.
10. Agreement to Terms
By participating in the Token Sale, you acknowledge that you have read, understood, and agreed to these Terms & Conditions.
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