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Testnet Terms and Conditions

Our testnet, including the Incentivized Testnet, Terms of Use (these “Terms”) apply to your access to and use of the websites, platform, software, technologies, features, and other online products and  services (collectively, the “Services”) provided or made available by the Shardeum Foundation  (the “Foundation”, “we”, “our” or “us”) in connection with the incentivized/public testnet (the “Testnet”) for the Shardeum network protocol (the “Protocol”) 

1. Agreement to Terms 

By accessing or using the Services or by participating in the Testnet, you agree to these Terms and to our Privacy Policy (the “Privacy Policy”) and any other agreements or terms as set forth by the Foundation. These Terms constitute a binding obligation between you and the Foundation. If you do not agree to these Terms, do not use the Services, or otherwise participate in the Testnet. 

If you are accessing or participating in the Testnet on behalf of a company (such as your employer) or other legal entity, you represent and warrant that you have the authority to bind that company or other legal entity to these Terms. In that case, “you” and “your” will also refer to that company or other legal entity. 

YOUR PARTICIPATION IN THE TESTNET IS ENTIRELY VOLUNTARY. IF YOU ARE  PARTICIPATING IN THE TESTNET, YOU MUST STRICTLY ADHERE TO THESE TERMS. 

Notice: Please read these Terms carefully as they govern your use of the Testnet and the Services. These Terms contain important information, including a binding arbitration provision and a class action waiver, both of which impact your rights as to how disputes are  resolved. 

2. Privacy Policy 

Please refer to our Privacy Policy for more details on the information that the Foundation may collect, use and disclose and under what circumstances. You acknowledge and agree that your participation in the Testnet and use of the Services is subject to this Privacy Policy. 

3. Changes to Terms and Privacy Policy. 

The Foundation may update these Terms and its Privacy Policy at any time, in its sole  discretion. If it does so, the Foundation will be deemed to have delivered a notice of  such update to you if it: (i) has posted the updated Terms or Privacy Policy at the website address where the Terms or Privacy Policy, as applicable, were originally posted; or (ii) has posted the updated Terms or Privacy Policy on its website, or on any applicable blog or forum used by the Foundation for sharing of information; or (iii) has delivered notice of such update to you through other communications, including in person, in writing, by facsimile or by e-mail. You agree to check the foregoing sources regularly for updates and review any and all  updates to the Terms and the Privacy Policy. If you continue to participate in Testnet after the Foundation has posted updates to its Terms or Privacy Policy, you are agreeing to be bound by the updated Terms or Privacy Policy, as applicable. If you do not agree to be bound by the updated Terms or Privacy Policy, then your only recourse is to immediately notify the Foundation, and immediately and permanently cease all/further participation in the Testnet. 

4. Duration of the Testnet. 

The Testnet will commence on the date prescribed by the Foundation and continue until terminated by the Foundation in its sole discretion (“Testnet Period”). Notwithstanding any other information provided by the Foundation regarding the Testnet including on its website, blog posts or through other communications (including but not limited to such forums, Telegram, Discord, Twitter, Reddit or other channels), the Foundation may change, discontinue, or terminate, temporarily or permanently, all or any part of Testnet, at any time and without notice, at its sole discretion, including prior to providing any Rewards – (collectively, “Rewards”)

The Testnet is designed to improve the operational experience, security, and design of the Protocol Mainnet (“Mainnet”) and to expose potential issues and to improve participant experiences prior to the Mainnet launch of the Protocol. 

5. Eligibility for Testnet. 

You may participate in the Testnet only if: (i) you are a natural person, 18 years or older, and  capable of forming a binding contract with the Foundation; (ii) you are not the subject of sanctions administered or enforced by any country or government or otherwise designated on any list of prohibited or restricted parties (including but not limited to the lists maintained by the United Nations Security Council, the U.S. Government (including but not limited to the Office of Foreign Assets Control), the European Union or its Member States, or other applicable government authority) or a citizen or organized or resident in a country or territory that is the  subject of country-wide or territory-wide sanctions (including without limitation Cuba, Democratic  People’s Republic of Korea, the Crimea, Donetsk, and Luhansk regions, Russian Federation, Republic of Belarus, Iran or Syria); (iii) you are not barred from participating under any  applicable laws, statutes, ordinances, rules, regulations, judgments, injunctions, orders and  decrees (“Applicable Laws”); (iv) you will not use a virtual private network (VPN) or other tool to circumvent any geo block or other restrictions that we may have implemented for participants  in the Testnet; and (v) you are not participating in, and have not become eligible to participate in, the Testnet by receiving credentials from any other person or entity. Any circumvention or violation of the above as determined by the Foundation will permanently disqualify you from participation in the Testnet. 

In order to participate in the Testnet, you may be required to meet such requirements as  determined by the Foundation to the satisfaction of the Foundation in its sole discretion (including without limitation such requirements as may be set out in applicable documentation) and/or provide certain identifying information (such as name, residence or  domicile, date of birth, etc.) and related documentation and pass sanctions and watchlist screening. Failure to provide such identifying information and/or a failure to demonstrate  compliance with the requirements herein may result in termination of your participation,  forfeiture of any Testnet incentives or Rewards, prohibition from  participating in future testnets and/or other actions by the Foundation.

Among those candidates who register for the Testnet and meet all of the eligibility criteria, the Foundation will select the participants for the Testnet at its sole discretion based on  criteria as determined by the Foundation (which may include, without limitation,  geographical distribution and applicant reputation). By applying or registering, there is no promise or guarantee that you will be able to participate in Testnet nor any obligation by the Foundation to facilitate your participation. 

The Foundation may disclose its plan regarding the Testnet from time to time on its website, blog posts or through other communications (such as forums, Telegram, Discord, Twitter, Reddit or other channels). However, notwithstanding this information or any other information provided by the Foundation regarding the Testnet, the Foundation may change or modify such plan at any time in its sole discretion, including with respect to its eligibility requirements, the number of participants eligible to participate in Testnet, the requirements of the Testnet, and the Rewards. 

The Testnet may operate in certain phases. Your selection or participation in any one phase of the Testnet does not imply that you will be selected for any other phases of the Testnet. 

The Foundation reserves the right to block your access to the Testnet at any time, in its sole discretion. The Foundation may terminate the Testnet, or your right to  participate in the Testnet, at any time, in its sole discretion. 

6. Third-Party Services 

The Foundation may share identifying information and documentation with certain vendors or third-party providers who provide various services such as identity verification and/or sanctions and watchlist screening services (the “Third-Party Services”). You agree that your  access and use of such Third Party Services is governed solely by the terms and conditions of  such Third Party Services, and the Foundation is not responsible or liable for, and  make no representations as to any aspect of such Third Party Services, including, without  limitation, their content or the manner in which they handle, protect, manage or process data or  any interaction between you and the provider of such Third Party Services. You irrevocably waive any claim against the Foundation with respect to such Third-Party Services. We are not liable for any damage or loss caused or alleged to be caused by or in connection with your enablement, access, or use of any such Third-Party Services, or your reliance on the  privacy practices, data security processes or other policies of such Third-Party Services. 

7. Rewards/Incentives 

As part of your participation in the Testnet, the Foundation may choose, in its sole discretion, to provide certain Rewards to eligible participants for completing certain activities, including running a validator node and meeting certain performance criteria or other requirements set by the Foundation. Other contributions to the Testnet may further be rewarded by the Foundation in its  discretion. Such Rewards may include Mainnet tokens. In order to receive Rewards, including  Mainnet tokens, you must: (i) continue to meet the eligibility requirements for participation in the Testnet, as set forth herein, and (ii) not be located in the United States, not be a U.S. Person (as defined as any natural person resident in Rule 902(k) of Regulation S under the U.S. Securities Act of 1933, as amended (the “Securities Act”)), and not participating in the Testnet on behalf of a person or entity located in the United States or any U.S. Person. 

Notwithstanding any other information provided by the Foundation regarding the Testnet (including on its website, blog posts or through other communications (such as forums, Telegram, Discord, Twitter, Reddit or other channels), the Foundation may in its  discretion change or modify the amounts or types of Rewards and/or discontinue, or terminate, temporarily or permanently, all or any part of the Rewards program at any time and without  notice and the Foundation may remove or re-allocate any Rewards earned by any participant or elect not to provide any rewards to any participant. You agree that any Rewards, if any, received will result from your services in testing the Testnet and the Protocol. 

The Foundation reserves the right to request information about, review and investigate all Testnet activities, and to disqualify participants at its sole discretion, if it believes a participant has engaged in any activity that is abusive, fraudulent, in bad faith or otherwise fails to meet the Testnet standards and requirements. If you violate any of the terms and conditions of these Terms (as determined solely by the Foundation, if you have engaged in any activity that is abusive, fraudulent, in bad faith, or if you do not complete the necessary information or fail to provide accurate information, then you will not be eligible to receive  Rewards, if any, and the Foundation may require you to promptly return any Rewards you have already received to the Foundation.

Your eligibility to receive Rewards is made in reliance upon your representation to the Foundation, which by your agreement to these Terms you hereby confirm, that any Rewards you receive will be for your own account, not as a nominee or agent, and not with a  view to the resale or distribution of any part thereof, and that you have no present intention of  selling, granting any participation in, or otherwise distributing the same. By agreeing to these Terms, you further represent that you do not presently have any contract, undertaking, agreement or arrangement with any person to sell, transfer or grant participation to such person or to any third person, with respect to any Rewards. If you agree to these terms on behalf of an entity, you acknowledge that entity has not been formed for the specific purpose of obtaining the Rewards. 

Any Rewards delivered to you shall be subject to such restrictions on transferability as determined by the Foundation, in its sole discretion, which may include delivery to a multi-sig wallet or to any other device, mechanism, program or application intended to enforce the transfer restrictions imposed on the Rewards, or additional lock-up or legend requirements. If required by the Foundation, you must accept the smart contract or  other electronic contract containing the terms applicable to the distribution of such Rewards  (including, without limitation, any token terms and conditions or Protocol terms and conditions); failure by you to accept such contract or contracts shall render your rights to receive such Rewards void. You agree to comply with all such terms, conditions and restrictions, and consent to the imposition of the foregoing. 

You understand that no public market now exists for the Rewards, and that the Foundation has not made any assurances that a public market will ever exist for the Rewards. 

You acknowledge and agree that at no time were you presented with or solicited by any publicly issued or circulated newspaper, mail, radio, television, internet, or other forms of general advertising or solicitation in connection with any invitation to participate in the Testnet or offer of the Rewards. 

You acknowledge, assume, and hold the Foundation, its affiliates, and their respective directors, officers, employees, contractors, advisors, lawyers, accountants, suppliers, licensors, agents and other representatives (collectively, the “Foundation Parties”) harmless, from and against any losses, liabilities, claims,  demands, damages, expenses or costs (“Claims”) arising out of, in connection with or related to  the following risks with respect to the Rewards: (i) the Protocol may never fully be developed, and to the extent developed, may not function as intended; (ii) the Protocol may fail to attract  sufficient interest from key stakeholders and the general public; (iii) the Protocol (and/or the  individuals or entities behind it) may be subject to investigation and punitive actions from governmental authorities; (iv) tokens, and the markets for tokens, are, by their nature, highly  experimental, risky, and volatile due to factors including (but not limited to) adoption, speculation, technology, security, and regulation; (v) the cost and speed of transacting with  tokens are variable and may increase dramatically at any time; (vi) cryptography is a progressing field with advances in code cracking and other technical advancements, such as the development of quantum computers, which may present risks to tokens, including theft and  loss; and (vii) token transactions are generally irreversible, and subject to loss due to human error.

You acknowledge and agree that if you are unable to claim Rewards due to technical bugs, gas fees, loss of access to a digital wallet or the private or public keys thereto, or for any other reason, you will have no recourse or claim against us or any Foundation Party and that neither we nor any other Foundation Party will bear any liability. 

You acknowledge and agree that claiming a Reward may require reliance on or an integration  with third party products (e.g., a digital wallet or an unaffiliated network or blockchain) that Foundation does not control. In the event that you are unable to access such products or integrations, or if they fail for any reason, and you are unable to participate in the Testnet or claim Rewards, you will have no recourse or claim against us or any other Foundation Party and neither we nor any other Foundation Party will bear any liability. 

8. Taxes 

You are responsible for the payment of all taxes associated with your receipt of any Rewards  (including, if applicable, Mainnet tokens). You agree to provide the Foundation with any additional information and complete any required tax or other forms relating to your receipt of such Rewards. 

You may suffer adverse tax consequences as a result of your participation in the Testnet. You  hereby represent that: (i) you have consulted with such financial, legal and/or tax adviser that you deem advisable in connection with your participation, or that you have had the opportunity to obtain such advice but have chosen not to do so; (ii) the Foundation has not  provided you with any financial, legal, tax or any other advice with respect to your participation;  and (iii) you are not relying on the Foundation for any financial, legal or tax advice. 

9. Security; Wallet 

You are responsible for maintaining adequate security and control of any and all IDs,  passwords, hints, personal identification numbers (PINs), private or public keys or any other codes that you use to access the Testnet as part of your systems. The Foundation assumes no responsibility for any losses resulting from any compromise of your systems or digital wallet(s). 

As part of certain phases of the Testnet, the Protocol Mainnet or as part of providing Rewards, the Foundation may send or receive Testnet Tokens or Rewards to your digital wallet application. In such cases, you are responsible for the management of the private keys and  security for your wallet(s). The Foundation does not and will not manage, store, collect  or otherwise access the private keys for your digital wallet(s). You are responsible for all  activities that occur using your wallet, whether or not you know about them. In the event you  provide an incorrect wallet address, you shall be solely responsible, and will hold the Foundation harmless, for any Testnet Tokens or Rewards delivered to such incorrect digital wallet addresses. 

10. Updates; Monitoring 

We may make improvements, modifications, changes, or updates to the Testnet, including but not limited to changes and updates to the underlying software, infrastructure, security protocols, technical configurations or service features (the “Updates”) from time to time. Your continued access and use of the Testnet are subject to such Updates and you shall accept any patches, system upgrades, bug fixes, feature modifications, or other maintenance work that arise out of  such Updates. We are not liable for any failure by you to accept and use such Updates in the  manner specified or required by us. Although the Foundation is not obligated to monitor access to or participation in the Testnet, it has the right to do so for the purpose of  operating the Testnet, to ensure compliance with these Terms and to comply with Applicable Law or other legal requirements. 

11. Testnet; Testnet Tokens. 

In your use of the Testnet, you may accumulate “Testnet Tokens,” such as through a faucet,  which are not, and shall never convert to or accrue to become Protocol Mainnet Tokens or any  other tokens or virtual assets. Testnet Tokens are virtual items with no monetary value. Testnet Tokens do not constitute any currency or property of any type and are not redeemable, refundable, or eligible for any fiat or virtual currency or anything else of value. Testnet Tokens are not transferable between users outside of the Testnet, and you may not attempt to sell, trade, or transfer any Testnet Tokens outside of the Testnet, or obtain any manner of credit  using any Testnet Tokens. Any attempt to sell, trade, or transfer any Testnet Tokens outside of  the Testnet will be null and void. 

The Foundation may, in its sole discretion, decide to delete, wipe or otherwise remove the Testnet at any time without notice, including, without limitation, the modification of the presence, amounts, or any other conditions applicable to the Testnet Tokens, without any liability to you or other Testnet users. The Foundation does not guarantee that Testnet Tokens will continue to be offered for a specific length of time and you may not rely upon the  continued availability of any Testnet Tokens. If the Testnet expires or terminates, you acknowledge and agree that your access to and use of your Testnet Tokens will be removed, and all accrued Testnet Tokens will be deleted from the Testnet system. Testnet Tokens will not  be converted into any future Rewards offered by the Foundation.

12. Intellectual Property Rights; Feedback 

We grant you a non-exclusive, limited, revocable, terminable, personal, non-assignable and non sublicensable license to use any Services that we or our affiliates provide to you solely for the purpose of participating in the Testnet, in strict accordance with these Terms. Such license shall automatically expire upon the termination of your participation in the Testnet. Except as set forth in the immediately preceding sentence, all right, title, and interest in and to the Services, the Testnet and the Protocol (and all elements thereof), including all modifications, improvements, and enhancements made thereto, and all proprietary rights therein, shall be and remain the Foundation’s sole and exclusive property. We reserve all rights not expressly granted in this Section. 

The Foundation welcomes feedback, comments and suggestions for improvements to  the Testnet and related technologies of the Protocol (“Feedback”). You agree that your  submission of any Feedback will be made on a strictly non-confidential basis, and that we will  be free to use or disclose your Feedback in any way, for any purpose. You grant to the Foundation an exclusive, transferable, worldwide, perpetual, irrevocable, fully-paid, royalty-free license, with the right to sublicense, under any and all intellectual property rights that you own or control to use, copy, modify, create derivative works based upon and otherwise exploit the Feedback for any purpose, in any form, format, media or media channels now known or later developed or discovered. You represent and warrant that neither your submission of any  Feedback to us, nor our commercialization or exploitation of that Feedback in any way, will violate any intellectual property, proprietary or other rights of any person. 

13. Prohibited Activities 

You will not (in each case except as otherwise contemplated as part of these Terms): unless as expressly requested by the Foundation as part of a security or similar challenge 

  • Disrupt or initiate any attacks against users of the Services or the Testnet
  • Initiate any attacks that violate your cloud service, data-center or other applicable third  party service provider’s rules or policies 
  • Disrupt, compromise, or otherwise damage data or property owned by other parties
  • Impersonate any person or entity or misrepresent your affiliation with any person or  entity 
  • Access any accounts or data other than your own (or those for which you have explicit,  permission from their owners) 
  • Interfere with, or attempt to interfere with, the access of any user, host or network, including, without limitation, sending a virus, overloading, flooding, spamming, creating,  encouraging or implementing Sibyl attacks 
  • Sell or resell the Services 
  • Participate in the Testnet from a jurisdiction other than the jurisdiction of your residence
  • Encourage or enable any other individual or entity to do any of the foregoing or  otherwise violate these Terms
  • Solicit the investment of money or other consideration (including digital assets of any  kind), or imply value of any kind associated with the Rewards or Testnet Tokens

14. Compliance with Applicable Laws 

You agree that to comply with all Applicable Laws and any generally accepted practices or guidelines in the relevant jurisdictions (including any Applicable Laws regarding the export of  data or software to and from the United States or other relevant countries and all applicable privacy and data collection laws and regulations) in connection with your participation in the Testnet. To the extent required by Applicable Laws, you are solely responsible for obtaining or filing any approval, clearance, registration, permit, or other regulatory authorization and shall comply with the requirements of such authorization. 

15. Disclaimers 

THE FOUNDATION MAKES NO, AND HEREBY DISCLAIMS ALL REPRESENTATIONS AND WARRANTIES OF ANY KIND WITH RESPECT TO THE  TESTNET. THE TESTNET IS PROVIDED “AS IS” AND WITH ALL FAULTS AND WITHOUT WARRANTY OF ANY KIND. WITHOUT LIMITING THE FOREGOING, THE FOUNDATION EXPLICITLY DISCLAIMS ANY IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, VALUE, QUIET ENJOYMENT AND NON-INFRINGEMENT, AND ANY WARRANTIES ARISING OUT OF COURSE OF DEALING OR USAGE OF TRADE. The Foundation has made no promises or guarantees with respect to delivery of any future features or functions. Any discussions of any future features or functions, either prior to or following the agreement to  these Terms, are for informational purposes only, and the Foundation has no obligation to provide any such features or functions. You acknowledge that you have not relied  on any statement, promise, assurance, or warranty that is not set out in these Terms. 

YOU ACCEPT AND ACKNOWLEDGE THAT THERE ARE RISKS ASSOCIATED WITH  PARTICIPATING IN TESTNET INCLUDING, BUT NOT LIMITED TO, THE RISK OF FAILURE  OF HARDWARE, SOFTWARE AND INTERNET CONNECTIONS, THE RISK OF MALICIOUS  SOFTWARE INTRODUCTION, LOSS OF REWARDS, LOSS OF DATA AND SECURITY RISKS. YOU ACCEPT AND ACKNOWLEDGE THAT THE FOUNDATION WILL  NOT BE RESPONSIBLE FOR ANY LOSSES, FAILURES, DISRUPTIONS, ERRORS, DISTORTIONS OR DELAYS YOU MAY EXPERIENCE WHEN PARTICIPATING IN TESTNET, HOWEVER CAUSED. THE FOUNDATION WILL NOT BE RESPONSIBLE OR LIABLE TO YOU FOR ANY LOSS AND TAKES NO RESPONSIBILITY FOR AND WILL NOT BE LIABLE TO YOU FOR YOUR PARTICIPATION IN TESTNET. 

The Foundation makes no warranty that the Testnet will meet your requirements or be available on an uninterrupted, secure, or error-free basis or free of viruses, errors, or defects. The Foundation makes no warranty regarding the quality, accuracy, timeliness, truthfulness, completeness or reliability of any information or materials offered in connection with the Testnet. Any Rewards you received (including any tokens) as part of the Testnet may have no value. 

You understand and agree that: 

  • access to the Testnet may require the use of your personal computer and/or mobile devices, as well as communications with or use of data and storage on such devices. You are responsible for any Internet connection or mobile fees and charges that you may incur as part of your voluntary participation in the Testnet 
  • certain information, including your on-chain transaction records, are all public information and can be accessed by anyone, including participants and non-participants of the Testnet 
  • security and other blockchain audits undertaken by the Foundation or third parties will access user data and could result in the loss of data or provoke actions from telecommunications and other third party service providers. 

YOU WAIVE AND RELEASE US FROM ANY AND ALL LIABILITIES, CLAIMS, CAUSES OF ACTION, OR DAMAGES ARISING FROM OR IN ANY WAY RELATING TO ANY INFORMATION, TOOLS OR SERVICES THAT WE OR OUR AFFILIATES PROVIDE IN CONNECTION TO THE SERVICES OR THE TESTNET.

YOU ACKNOLEDGE THAT THERE IS NO INVESTMENT OF ANY KIND, INCLUDING BUT NOT LIMITED TO THE INVESTMENT OF MONEY OR THE INVESTMENT OF DIGITAL ASSETS, ASSOCIATED WITH THIS AGREEMENT, THE TERMS, THE REWARDS, AND/OR YOUR PARTICIPATION IN THE TESTNET. 

Limitations of Liability 

TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAWS, IN NO EVENT WILL ANY FOUNDATION PARTY BE LIABLE TO YOU OR ANY THIRD PARTY FOR ANY INDIRECT, INCIDENTAL, SPECIAL, OR CONSEQUENTIAL DAMAGES, OR FOR LOSS OF USE, LOST PROFITS, OR LOSS OF DATA ARISING OUT OF OR RELATED TO THESE TERMS, THE SERVICES OR THE TESTNET, HOWEVER CAUSED AND REGARDLESS OF THE FORM OF ACTION, WHETHER IN CONTRACT, TORT, STRICT LIABILITY, OR OTHERWISE, EVEN IF WE OR OUR SUPPLIERS OR LICENSORS HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. TO THE MAXIMUM EXTENT PERMITTED BY LAW, IN NO EVENT WILL THE CUMULATIVE LIABILITY OF US, OUR SUPPLIERS, AND OUR LICENSORS FOR ANY CLAIMS ARISING OUT OF OR RELATED TO THESE TERMS, THE SERVICES OR THE TESTNET EXCEED ONE HUNDRED UNITED STATES DOLLARS (US$100). 

YOU ACKNOWLEDGE AND AGREE THAT THE FOREGOING DISCLAIMERS, EXCLUSIONS AND LIMITATIONS OF LIABILITIES SET FORTH ABOVE ARE FUNDAMENTAL ELEMENTS OF THE BASIS OF THE BARGAIN BETWEEN FOUNDATION AND YOU. 

16. Indemnification 

To the fullest extent permitted by applicable law, you will indemnify, defend and hold harmless the Foundation Parties from and against any Claims arising out of, in connection with  or related to: (i) your access to or use of the Services or the Testnet; (ii) your violation of these Terms; (iii) your violation, misappropriation or infringement of any rights of another (including intellectual property rights or privacy rights); and (iv) your conduct in connection with the Services or your participation in the Testnet. You agree to promptly notify the Foundation Parties of any third-party Claims, cooperate with the Foundation Parties in defending such Claims and pay all fees, costs and expenses associated with  defending such Claims (including legal fees and expenses). You also agree that the Foundation Parties will have control of the defense or settlement, at Foundation’s sole option, of any third-party Claims. 

17. Confidentiality. 

You acknowledge that, in connection with your participation in the Testnet, you may be exposed to data and information, including product, technology, business, and strategy information that is confidential and proprietary to the Foundation, its affiliates and/or their respective clients, service providers and business partners (collectively, “Confidential Information”). All  Confidential Information shall be sole and exclusive property of the Foundation and may be used by you only for assisting us in resolving any security issue you have reported to us. You may not reveal, publish, or otherwise disclose the Confidential Information to any third party without the prior written consent of the Foundation, and shall protect the Confidential Information from disclosure using the same degree of care you use to protect your own confidential information of like kind, but in no event using less than reasonable care.

18. Governing Law; Forum 

These Terms and any action related thereto will be governed by the laws of Switzerland without regard to its conflict of laws provisions. The exclusive jurisdiction for all Disputes (defined below) will be in Dubai, United Arab Emirates and you and Foundation each waive any objection to such jurisdiction and venue. 

19. Dispute Resolution 

PLEASE READ THE FOLLOWING SECTION CAREFULLY BECAUSE IT REQUIRES YOU TO ARBITRATE CERTAIN DISPUTES AND CLAIMS WITH THE FOUNDATION AND LIMITS THE MANNER IN WHICH YOU CAN SEEK RELIEF FROM US. NO CLASS OR REPRESENTATIVE ACTIONS OR ARBITRATIONS ARE ALLOWED UNDER THIS ARBITRATION PROVISION. IN ADDITION, ARBITRATION PRECLUDES YOU FROM SUING  IN COURT OR HAVING A JURY TRIAL. 

You and we agree that any dispute, claim or controversy arising out of or relating to your participation in the Testnet, use of the Services, or these Terms or the breach, termination, enforcement, interpretation or validity thereof (collectively, “Disputes”) will be resolved solely by  binding, individual arbitration and not in a class, representative or consolidated action or proceeding. 

The arbitration will be conducted by the Dubai International Arbitration Centre in accordance  with the Dubai International Arbitration Centre rules then in effect, except as modified by these Terms. The number of arbitrators shall be one (the “Arbitrator”). The place of arbitration shall be Dubai, United Arab Emirates, unless the parties mutually agree otherwise. The language to be used in the arbitral proceedings shall be  English. The parties agree that the Arbitrator shall have exclusive authority to decide all issues relating to the interpretation, applicability, enforceability and scope of this arbitration agreement. Each party shall be responsible for its own costs and expenses arising from the arbitration, except as may otherwise be determined by the Arbitrator. Notwithstanding anything to the contrary in these Terms, we retain the right to seek injunctive or other equitable relief from any  court to prevent (or enjoin) the infringement or misappropriation of our intellectual property  rights. 

Other than as set out in this Section, the Arbitrator shall determine all issues of liability on the merits of any claim asserted by either party and may award declaratory or injunctive relief only in favor of the individual party seeking relief and only to the extent necessary to provide relief warranted by that party’s individual claim. To the extent that you or we prevail on a claim and seek public injunctive relief (that is, injunctive relief that has the primary purpose and effect of  prohibiting unlawful acts that threaten future injury to the public), the entitlement to and extent of such relief must be litigated in a civil court of competent jurisdiction and not in arbitration. The parties agree that litigation of any issues of public injunctive relief shall be stayed pending the  outcome of the merits of any individual claims in arbitration. 

YOU AGREE THAT YOU MAY BRING CLAIMS AGAINST THE FOUNDATION ONLY IN YOUR INDIVIDUAL CAPACITY, AND NOT AS A PLAINTIFF OR CLASS MEMBER IN ANY PURPORTED CLASS OR REPRESENTATIVE PROCEEDING. Further, if the parties’ Dispute is resolved through arbitration, the Arbitrator may not consolidate another person’s  claims with your claims and may not otherwise preside over any form of a representative or class proceeding. If this specific provision is found to be unenforceable, then the entirety of this Dispute Resolution section shall be null and void. You agree to waive your right to a trial by jury or to participate in a class action. 

This Section shall survive termination of these Terms. 

20. General Terms 

You may not sell, assign or transfer any of your rights, duties or obligations under these Terms  without our prior written consent. Any attempt by you to assign or transfer these Terms, without  such consent, will be null and void. We reserve the right to assign or transfer these Terms or  any of its rights, duties and obligations hereunder to any third party. Subject to the foregoing, these Terms will bind and ensure to the benefit of the parties, their successors and permitted assigns. 

Except as otherwise set forth herein, any notices or other communications to be provided by Foundation under these Terms shall be deemed to have been delivered to you: (i) if  posted on the Foundation’s website, or on any applicable Foundation blog or forum used for sharing of information (such as Telegram, Discord, Reddit, Twitter, or other channels); or (ii) through other communications, including in person, in writing, by facsimile or  by e-mail. You agree to check the foregoing sources regularly for updates. Any notices or other communications to be provided by you under these Terms must be given at the following address: [email protected] 

Except as otherwise set forth herein, if any provision of these Terms is held by an arbitrator or court of competent jurisdiction to be illegal or unenforceable, the provision will be modified so as to be enforceable to the maximum extent possible under Applicable Laws in accordance with the original intent of the provision and the remainder of these Terms will remain in full force and effect. 

The Foundation’s failure to enforce any right or provision of these Terms will not be considered a waiver of such right or provision. The waiver of any such right or provision will be effective only if in writing and signed by a duly authorized representative of the Foundation. Except as expressly set forth in these Terms, the exercise by either party  of any of its remedies under these Terms will be without prejudice to its other remedies under these Terms or otherwise. 

Nothing herein shall constitute an employment, consultancy, joint venture, or partnership relationship between you and the Foundation. These Terms reflect the entire  agreement between the parties relating to the subject matter hereof and supersede all prior  agreements, representations, statements, and understandings of the parties relating to the  subject matter hereof. The section titles in these Terms are for convenience only and have no legal or contractual effect. Use of the word “including” will be interpreted to mean “including without limitation”. 

If you have any questions about these Terms, the Services, the Agreement or the Testnet, please contact us at: [email protected] 


Last updated: June 24, 2024