GRINDERY ONE (G1) TOKEN & GRINDERY X (GX) TOKEN
TERMS OF SERVICE
Last Updated: January 7, 2025
INTRODUCTION AND ACCEPTANCE
BY CLICKING "I ACCEPT" BELOW OR INDICATING YOUR ACCEPTANCE IN AN ADJOINING BOX OR CONFIRMATION PAGE, PROVIDING ANY REQUESTED INFORMATION, OR OTHERWISE ACQUIRING G1 OR GX, YOU ARE CONFIRMING THAT YOU UNDERSTAND AND AGREE TO BE BOUND BY ALL OF THESE TERMS OF SERVICE. IF YOU DO NOT ACCEPT ALL OF THESE TERMS OF SERVICE, THEN YOU MAY NOT ACQUIRE G1 OR GX.
THE ACQUISITION OF DIGITAL TOKENS IS SUBJECT TO A NUMBER OF RISKS, SOME OF WHICH THE ISSUER (AS DEFINED HEREIN) HAS SET OUT IN THESE TERMS OF SERVICE. IF YOU ARE IN ANY DOUBT AS TO THE SUITABILITY OR OTHERWISE OF ACQUIRING, HOLDING OR USAGE OF THE DIGITAL TOKENS REFERRED TO IN THESE TERMS OF SERVICE, YOU SHOULD SEEK APPROPRIATE PROFESSIONAL ADVICE.
1. DEFINITIONS AND INTERPRETATION
In these Terms of Service, unless the context requires otherwise, the following terms shall have the following meanings:
"Application" means the Grindery platform and associated services.
"Content" means all information, data, text, software, music, sound, photographs, graphics, video, messages or other materials.
"G1" means the Grindery One tokens.
"GX" means the Grindery X tokens.
"Issuer" means GRINDERY INC.
"Terms of Service" means these Terms of Service.
"Virtual Currency" means any blockchain-based tokens, cryptocurrencies or other digital assets.
"Wallet" means any digital wallet capable of storing G1 or GX tokens.
2. PURPOSE AND USAGE OF TOKENS
2.1 GX Token Purpose and Utility
GX is the core utility token of the Grindery ecosystem. The primary purpose of GX is to serve as the fundamental unit of value within the Grindery platform, being used to pay for transactions, participate in platform governance, and reward developers for their contributions to the ecosystem. GX is available on Ethereum and Polygon networks. The ownership of GX carries no rights, express or implied, in the Issuer, its related entities or its affiliates (each, a Group Entity).
2.2 G1 Token Purpose
G1 is designed as an intermediary incentive token within the Grindery ecosystem. Users can earn G1 through their participation in various platform activities including but not limited to completing tasks, participating in community events, and engaging with platform features. G1 serves as a flexible mechanism for user engagement and platform testing, and can be exchanged for GX subject to applicable vesting and lock-up periods.
2.3 Token Relationship
The GX token provides the long-term value and utility that powers the Grindery ecosystem, while the G1 token ensures flexible and secure user engagement. Users should be aware that GX obtained through G1 exchange is subject to vesting and lock-up periods. These periods are designed to ensure alignment of interests among all participants.
2.4 Non-Consumer Product Status
Neither G1 nor GX are consumer products and to the maximum extent permitted by law, their holders accept explicitly and agree that they are not covered by the consumer protection regulation of any jurisdiction.
3. SECURITY AND USER RESPONSIBILITIES
3.1 Security Measures
Users are responsible for implementing reasonable measures for securing their digital wallets and private keys. Users must protect their private keys and access information, maintain strong passwords, enable two-factor authentication where available, and conduct regular security audits of personal devices.
3.2 Reporting Vulnerabilities
Users must immediately report any security vulnerabilities to security@grindery.com, providing detailed information about the vulnerability. Users shall not disclose vulnerabilities publicly until the Issuer has addressed them and must follow responsible disclosure practices.
3.3 User Obligations
Users must maintain the confidentiality of their credentials, notify the Issuer immediately of any unauthorized access, take responsibility for all activities under their account, refrain from sharing access credentials with third parties, and regularly monitor their account for suspicious activity.
4. INTELLECTUAL PROPERTY RIGHTS
4.1 Ownership
All intellectual property rights in the Application, including but not limited to software code, user interface, graphics and design, trademarks and logos, and documentation are owned by or licensed to the Issuer.
4.2 Limited License
The Issuer grants users a limited, non-exclusive, non-transferable license to use the Application subject to these Terms. This license explicitly excludes rights to copy or modify the Application, distribute or sell any part of the Application, reverse engineer or decompile the Application, or remove any copyright or proprietary notices.
4.3 Open Source Components
The Application may include open-source software components. Use of these components is governed by their respective licenses.
5. DISCLAIMERS AND LIMITATIONS
5.1 General Disclaimers
THE APPLICATION AND ALL RELATED SERVICES ARE PROVIDED ON AN "AS IS" AND "AS AVAILABLE" BASIS, WITHOUT ANY WARRANTIES OF ANY KIND, WHETHER EXPRESS OR IMPLIED. The Issuer expressly disclaims all implied warranties of merchantability, fitness for a particular purpose, title, and non-infringement, as well as any representations or warranties regarding the security, reliability, timeliness, and performance of the Application.
5.2 Cryptocurrency and Blockchain Disclaimers
The Issuer functions solely as software developers and providers of software Applications. The Issuer does not custody, control, or manage user funds in any manner, has no access to private keys, cannot initiate transfers of Virtual Currency, does not control blockchain networks or protocols, and cannot guarantee the completion or confirmation of any transaction.
5.3 Investment and Financial Disclaimers
5.3.1 GX Token Disclaimers
YOU ACKNOWLEDGE AND AGREE THAT:
The GX token, despite being the core utility token of the Grindery ecosystem, carries significant risks. No promises or guarantees are made regarding:
- The future value of GX
- The liquidity of GX
- The success of the Grindery ecosystem
- The development or implementation of any planned features
- The ability to stake or earn rewards
- The governance functionality or its implementation
The value of GX may be highly volatile and could reduce to zero. Users may lose all amounts used to acquire GX. The fixed supply nature of GX does not guarantee any specific value or price appreciation.
5.3.2 G1 Token Disclaimers
G1 tokens are experimental incentive tokens with no inherent value. No promises of future performance or value are made regarding G1. The value of G1 may be highly volatile and could reduce to zero. Users may lose all amounts paid to acquire G1.
5.3.3 Token Exchange Disclaimers
The ability to exchange G1 for GX:
- Is subject to vesting and lock-up periods
- May be modified or terminated at any time
- Does not guarantee any specific exchange rate
- May be subject to limitations or restrictions
- May be affected by technical, market, or regulatory conditions
5.3.4 General Token Disclaimers
Neither G1 nor GX:
- Represent any ownership in the Issuer or any Group Entity
- Provide rights to dividends or profits
- Guarantee any return on investment
- Can be considered as securities or investment products
- Are recommended for speculative investment
5.4 Technical and Security Disclaimers
The Issuer disclaims any liability for loss of private keys or access credentials, unauthorized access to wallets or accounts, smart contract vulnerabilities or failures, network congestion or failures, attacks on blockchain networks, data transmission errors or corruption, or any technical failures beyond our reasonable control.
5.5 Third-Party Service Disclaimers
The Issuer makes no warranties or representations regarding the accuracy, reliability, or security of third-party services, the availability or functionality of external networks or services, the quality or legitimacy of third-party products or services, the security of external websites or resources, or the conduct of third parties.
5.6 Tax Risk Disclaimers
The tax characterization of G1 and these Terms is uncertain. Users are solely responsible for determining applicable taxes, withholding, collecting, reporting and remitting correct taxes to appropriate authorities, maintaining required tax documentation and records, and complying with all applicable tax laws and regulations. The Issuer does not provide tax advice or tax-related guidance.
5.7 Competition and Market Risk Disclaimers
Alternative networks and platforms may emerge that utilize similar code and protocols, offer similar features or services, or compete with Grindery for users and resources. Competitors may create products that replicate or improve upon Grindery's functionality, gain greater market acceptance, or impact the value or utility of G1. The competitive landscape may change rapidly and unpredictably.
5.8 Regulatory and Compliance Disclaimers
The regulatory treatment of Virtual Currency is uncertain and may change. The Issuer may modify the Application to comply with regulatory requirements. Compliance with local laws and regulations is the user's responsibility. The Issuer makes no representations regarding the legal status of G1 in any jurisdiction.
6. TERMINATION
6.1 Termination by User
Users may terminate their use of the Application at any time by ceasing all use of the Application, removing tokens from associated wallets, and deleting any local data.
6.2 Termination by Issuer
The Issuer may terminate or suspend user access for violations of these Terms, to comply with law or regulation, to protect users or systems, or for any other reason at the Issuer's discretion.
6.3 Effects of Termination
Upon termination, user access rights end immediately, users must cease all use of the Application, users remain liable for prior obligations, and certain Terms provisions survive termination.
7. GOVERNING LAW AND DISPUTE RESOLUTION
7.1 Governing Law
These Terms shall be governed by and construed in accordance with the laws of Panama, without regard to its conflict of law provisions.
7.2 Dispute Resolution
Any dispute arising out of or in connection with these Terms shall be finally resolved by arbitration under the Rules of the International Chamber of Commerce by one or more arbitrators appointed in accordance with said Rules.
8. AMENDMENTS AND MODIFICATIONS
The Issuer reserves the right to modify these Terms of Service at any time. Users will be notified of any changes through the Application or by email. Continued use of the Application after such modifications constitutes acceptance of the updated Terms of Service.
9. CONTACT INFORMATION
For any questions regarding these Terms of Service, please contact legal@grindery.com.
END OF TERMS OF SERVICE