Prior to taking any actions please read the present document on https://kiboplatform.net/.
Ticking the sentence “I accept the terms of the contract” on https://kiboplatform.net/ shall mean your unconditional consent with the smart contract specified below, as well as your understanding of and consent with the present document, including but not limited to the provision of the guarantees specified in the present document.
In the present document the following terms shall have the meaning specified below:
«Site» - The website on the Internet https://kiboplatform.net/.
«Ethereum» - A platform which has no particular owners and which is used for creation of decentralized applications. It consti-tutes an open source code for users all over the world. Find more on www.ethereum.org.
«Service» - On-line service Kibo created on the basis of Ethereum.
«Smart Contract System» - Program code situated in Ethereum blockchain at the address 0x80aa81029df9afdc70a621c86d7a81d7e9ed7e3a, which provides mutual fulfillment of the established conditions. Smart contract based applications function as were programmed providing no opportunity for censorship, fraud or third party interference.
«Partners» - Person or persons who have entered into the Smart Contract.
«Client» - A person participating in the Action for the purpose of entertainment, including but not limited to winning a prize.
«System» - A distributed data base of obligations of the parties to the Smart Contract managed by the Smart Contract.
«Token» - A record of participation in the System with a range of opportunities guaranteed by the Smart Contract.
«Blockchain» - Register of records of the transactions in order of their execution, kept by a large number of independent members. All the members of the system have the register, which automatically updates up to the latest version whenever it is amended. Every account owner has access to the information about any transaction ever made starting from the first one. The users play the role of notary proving the accuracy of information in the database.
«Fork» - Alternative order of record of transactions in Blockchain. In the event of receiving more support by the majority of members it may result in cancellation of the previous transactions.
«Ether» - Crypto-currency used for making transactions in all the online services created on the basis of Ehereum Blockchain.
«Action» - Games, draws and other similar activities conducted on the Internet.
1. The Service provides the Partners with the infrastructure for creation, organization and conduct of Actions as well as attraction of Clients for the purpose of participation in the Actions, including advertising campaigns relating to the Actions, and distribution of the profit received from the Clients as the result of performing the Actions. The aforementioned relationships between the Service and the Partners, the Partners and the Client are regulated exclusively by the Smart Contract. The terms and definitions set out in the Terms and Definitions part above are limited to this contract and can be only applied by the parties to this contract without any differing interpretation.
2. The purpose of the present document is to explain the parts of the Smart Contract and to notify the persons who intend to enter into the Smart Contract about the risks connected with the regulation of their activities by the Smart Contract, as well as about the risks connected with the organization and conduct of Actions.
3. The list of risks specified in the preset text is not comprehensive, as well as it may not contain those risks which cannot be predicted at the present moment. If you are not sure that you can estimate the probability of occurrence of such risks by yourself, you are advised to contact an appropriate specialist (a lawyer, an auditor, an adviser or a programmer) before making a decision about entering into the Smart Contract.
4. Reviewing this document may not substitute reviewing the Smart Contract. By entering into the Smart Contract you confirm that you have read the Smart Contract and fully and unconditionally agree with the conditions hereof. You may not take legal actions against any Partners and/or the Service connected with the Smart Contract, including, but not limited to claims based on the fact that you did not read the terms and conditions of the Smart Contract, or you did not understand the terms and conditions of the Smart Contract and/or the principles of the work of the Ethereum Blockchain.
5. In case of discrepancies between the content of the Smart Contract and the present text, as well as information, which has been presented on the Site at any moment, or by any means of communication of the Service (including, but not limited to publications in the social media, as well as statements or declarations, statements by representatives of the Service, notwithstanding whether these statements have been made personally or on behalf of the Service), notwithstanding the time of their appearance, the Smart Contract will prevail. If you do not agree with the terms set in this document, you should leave the Site immediately and abstain from entering into the Smart Contract.
6. The person is deemed to conclude the Smart Contract if he/she has received the Token in the result of interaction with the Smart Contract. If you have acquired the Token from a third party, you are also bound by the terms and conditions of the Smart Contract. If at obtainment of the Token you act on behalf of a third party, you are obliged to request approval from the Service for execution of such transaction(s) and act(s), otherwise you in person will be prohibited from becoming a Partner.
7. Tokens do not originate and do not provide any rights for participation in property, joint stock or authorized capital of any associations, partnerships, companionships or any other forms of legal entities of whatever jurisdiction. Tokens cannot be used as any kind of security, and the Smart Contract cannot be considered as an initial public offer, securities issue prospectus, investment offer, attraction of funds of citizens on any grounds in any jurisdiction.
8. Tokens do not provide their holders with any additional rights in material, as well as non-material nature, except for those rights that are stipulated by the Smart Contract.
9. Token allows the holders to execute transactions regulated by the Smart Contract. The execution is nominated in Ether and is provided automatically at occurrence of the terms specified in the Smart Contract. The Parties to the Smart Contract understand and accept that they are not able to challenge the data in the System or ask for the reimbursement for the service. In some cases the availability of Token gives the Party the possibility to amend the Smart Contract, though nobody guarantees the Party that the availability of Token is sufficient for such amendments. The Party who transferred the Token for whatever reason to a third party or lost the Token as a result of the actions of the third party, may not pretend to obtain automatic execution in accordance with the terms and conditions of the Smart Contract, nor can he/she request to amend its terms and conditions.
10. The System includes Tokens named Kibo Platform, Kibit and Governing Tokens, distinguished by the order of obtainment and the scope of rights obtained by the Partner under the Smart Contract, and the terms of receipt of such execution. Besides the receipt of the execution under the Smart Contract the Partners/holders of Kibo Platform Token are entitled to take part in the process of voting regarding the amendments to the Smart Contract and conduct of Actions defined and agreed upon in the Smart Contract. The Partners\holders of the Governing Tokens are entitled to vote for the amendment of those terms and conditions of the Smart Contract which do not affect the main relations or obligations of the Partners in the Smart Contract. Possible amendments are also established in the Smart Contract.
11. The Partner understands that by entering into the Smart Contract as well as organizing and conducting the Actions he\she shall hold risks for, including, but not limited to the list of risks stated in this document:
12. Sensitivity of the Smart Contract: The Smart Contract may contain mistakes and discrepancies, which may result in the financial losses for one or several Partners. In case of any such disputes, the parties will act in good faith to resolve these issues.
13. Sensitivity of Ethereum Blockchain: Blockchain technology and Ethereum smart contracts are new untested technologies, created on the basis of an open code which may contain mistakes and discrepancies, resulting in cancellation of transactions (as well as cancellation of execution under the Smart Contract) by way of creation of Fork. The use of Ethereum Blockchain may result in the financial losses for one or several Partners.
14. Hacker Attacks: The Smart Contract and Ethereum Blockchain may be subject to hacker attacks, which may result in cancellation of transactions or assumption of Tokens by the third parties and suffering financial losses for one or several partners
15. Ether and Token’s Cost: Ether is characterized by a high exchange rate volatility, that may result in the situation when Token or Ether held by the Partner can lose its value, which in turn will lead to financial losses for one or several Partners.
16. Legal Status of the Smart Contract : The Smart Contract is a new means of regulation of the relationships that could result in contestation, acknowledging it as invalid or not complying with the applicable law of the Partner in court. The Partner is fully liable for the costs related to the execution of the resolution of such court, including but not limited to the return of execution received under the Smart Contract or compensation of losses.
17. Legal Status of Ethereum Blockchain: At the moment Ethereum Blockchain is not regulated in the majority of countries in the world, thought this state of affairs may change in the future. The Partner understands and accepts that he is responsible for monitoring the legal status of Ethereum Blockchain and estimating whether the use of Ethereum Blockchain complies with the applicable law(s). The Partners are fully responsible for the consequences of violation of the legislation applicable thereto, including but not limited to the court and administrative proceedings.
18. Legal Status of Ether: Ether is the crypto-currency with unestablished legal status in the majority of countries in the world. In some countries the use of crypto-currencies is forbidden by law or de facto. The Partners independently make sure whether the use of crypto-currency complies with the law(s) and take full responsibility for the consequences of the violation of the applied legislation, including but not limited to the court and administrative proceedings.
19. Legal Status of Actions: Several jurisdictions ban or restrict the organization and conduct of Actions. The Partners will independently make sure whether their activities within the frames of the Smart Contract comply with the applicable law(s) and take full responsibility for the consequences of violation of the applied legislation, including but not limited to the court and administrative proceedings.
20. Incompetence of Partners: The Partners may have no experience in conducting and organizing the Actions or any other economic activity that may result in taking inadequate decisions and, as a consequence, incur losses for one or several Partners.
21. Mistakes in Management: Voting of a large number of Partners may result in delaying the process of taking business decisions, and, as a consequence, incur losses for one or several Partners.
22. Economic Inexpediency: Occurrence of Actions undesired by the Client may result in losses for one or several Partners
23. By entering to the Smart Contract the Partner guarantees that:
24. he\she has sufficient legal capacity in accordance with the law to enter into the Smart Contract;
25. he\she is not going to carry out any actions aimed against the Service or other Partners including complains and legal claims;
26. he\she is not going to make attempts to amend in any way the Smart Contract or to prohibit the work of Etherium Blockchain;
27. he\she is not going to enter the Smart Contract and/or to use Token for the purpose of avoidance of bans and/or restrictions put on it by the law, as well as not to use the Smart Contract with the aim of creating speculative, misleading and/or fraudulent schemes;
28. he\she understands and accepts the risks related to the entry into the Smart Contract and the application of Token;
29. he\she understands and accepts that Tokens cannot be used for participation in property rights, joint stock or authorized capital of any associations, partnerships, companionships or any other forms of legal entities of whatever jurisdiction;
30. he\she understands and accepts that provision of Token is effected under the terms “as is” without any guarantees;
31. The Partners independently define the applicable taxes in accordance with the law(s) regarding the relations originated from the Smart Contract, including but not limited to acquisition of Tokens, change of the Token's cost with the course of time and obtainment of the execution under the Smart Contract. The Partners bear full responsibility for timely and correct calculation and payment of all taxes due in accordance with the legislation applicable to the Partners. The Service is not a tax agent of the Partner, as well as it does not advise the Partners on the order of calculation and/or the payment of taxes.
32. Nothing in the Smart Contract, in the present document or in any statements or information contained on the Site at any moment, or in any means of communication of the Service (including but not limited to the publications in social media, as well as the statements or declarations made by inter alia the representatives of the Service, notwithstanding whether they had been made personally or on behalf of the Service), notwithstanding the time of their occurrence, shall not be construed as the guarantee of gaining profit or benefit in any other form. Any strategies in a form of models of interaction between the Partners under the Smart Contract and/or the use of Token are suppositions, forecasts, expectations, objectives, possibilities and do not have any legal force. The Partners understand that entry into Smart Contract and/or use of Token may result in financial losses.
33. The Partners accept and agree that they use Tokens “as is”, i.e. in the form Tokens have been represented, at their own risk.
34. A person who created the Smart Contract, as well as the Service, does not give any guarantees, as well as cannot be made responsible for any results at the use of the Tokens, the compliance of the Smart Contract with the objectives for which they may be used, as well as with any requirements (including but not limited to the requirement of the legislation, applicable to the relations of the Partners) and expectations of the Partners, and does not take any responsibility for whatever direct, indirect, accidental, special, circumstantial or punitive damages, including but not limited to the losses in the form of lost profit and/or reputational losses, arisen as a result of the use of a Tokens, losses from inability to use the Tokens and/or mistakes in the operation of the Smart Contract.
35. The Service does not guarantee the permanent and uninterruptible operation of the Site and does not take any responsibility for direct, indirect, accidental, special, circumstantial or punitive damages, including but not limited to the losses in the form of lost profit for the mistakes and/or technical issues in operation of the Site, or restriction of the access to the Site on the territory of any jurisdiction.
36. The Service waives any guarantees to organize and conduct any Actions, does not bear any obligations to the Client or the Partners and does not bear any responsibility for the Actions and any activities of the Partners. The Partners are independently responsible for the compliance of Actions with the applicable laws governing the relations of the Partners and the Client.