GENERAL TERMS AND CONDITIONS OF ROOMDAO COIN TOKEN SALE
PLEASE READ CAREFULLY THESE GENERAL TERMS AND CONDITIONS BEFORE MAKING ANY PAYMENTS FOR ROOMDAO COIN TOKENS, AS IT EFFECTS YOUR OBLIGATIONS AND LEGAL RIGHTS, INCLUDING BUT NOT LIMITED TO, WAIVERS OF RIGHTS AND LIMITATION OF LIABILITY.
- ACCEPTANCE OF THE TERMS
BY SELECTING “I AGREE” AND SUBMITTING A FORM IN THE KYC PROCEDURE YOU ACKNOWLEDGE THAT YOU HAVE READ, UNDERSTOOD AND IRREVOCABLY ACCEPTED THE FOLLOWING TERMS AND YOU AGREE TO BE BOUND BY THESE TERMS OF TOKEN SALE AND ALL TERMS INCORPORATED HEREIN BY REFERENCE IN THE EVENT AN AGREEMENT IS CONCLUDED AS DEFINED HEREIN.
IF YOU DO NOT AGREE TO ANY OF THE TERMS SET OUT IN THESE TERMS OF TOKEN SALE, YOU BELIEVE THAT ANY TERMS SHOULD NOT APPLY TO YOU, DO NOT SUBMIT A FORM IN THE KYC PROCEDURE, DO NOT MAKE PURCHASE OF RDC TOKENS AND DO NOT USE THE WEBSITE AVAILABLE IN THE INTERNET AT HTTP://ROOMDAO.IO.
- REPRESENTATIONS AND WARRANTIES
Please read the following clause carefully. Failure to comply with any of the provisions set forth herein may result (at ROOMDAO’s sole discretion) in the termination of these Terms and may also expose you to civil and/or criminal liability.
All Participants represent and warrant to the Company that:
- they are of a sufficient age (at least 18 years of age) to legally participate in ROOMDAO COIN Token Sale (hereinafter the “Token Sale”), and are fully able and legally competent to enter into and perform the obligations under these Terms and to carry out the transactions contemplated by these Terms;
- they have a sufficient technical understanding of cryptographic tokens, Ethereum-based protocols, distributed networks, token storage mechanisms (such as token wallets), and blockchain technology in general to understand these Terms and to appreciate the risks and implications of purchasing RDC Tokens;
- they have obtained sufficient information about RDC Tokens to make an informed decision to purchase RDC Tokens;
- they are not citizens of, natural and legal persons, having their habitual residence, location or seat of incorporation in the country or territory of jurisdictions where transactions with digital currencies and participating in the Token Sale are prohibited or in any manner limited by applicable laws or regulations;
- they understand and acknowledge that the offering or issue of RDC Tokens is not registered or regulated by any financial regulatory authority (including National Bank of Georgia) and the Company is not dealing in a financial product;
- they acknowledge and agree that once RDC Tokens have been allocated to the Participant, the RDC Tokens will be the sole responsibility of the Participant, and the Company will not have the ability to influence the control or ownership of the RDC Tokens in any way;
- they will comply with any applicable tax obligations in their jurisdiction arising from their purchase of RDC Tokens;
- they will not hold liable any of the owners and managers of, and/or the contractors providing services to ROOMDAO, and/or their successors and/or assignees (hereinafter the “ROOMDAO Management”), for any losses or any special, incidental, or consequential damages arising out of, or in any way connected to the offer and/or transfer of RDC
ROOMDAO shall reserve the right to refuse selling RDC Tokens to anyone who does not meet the criteria set forth above.
- PARTICIPANTS TO PROVIDE INFORMATION
ROOMDAO is committed to standards of anti-money laundering/counter terrorist financing (AML/CTF) in respective jurisdictions. In order to participate in the RDC Token Sale, all Participants must submit a form in the Know Your Customer (KYC) procedure, as defined and described in more details at http://roomdao.io. The KYC procedure is mandatory and requires you to provide all information required for the KYC/AML check and have an ERC20-compatible Ethereum wallet (hereinafter the “Wallet”) which is not a cryptocurrency exchange wallet.
Participant confirms by using our KYC Procedure and providing personal information to the Company, that all information provided within the KYC Procedure is true and accurate and that that Participant does not act on behalf of any third party.
To the fullest extent permitted by applicable law, the Participant agrees to defend, indemnify and hold harmless ROOMDAO, including ROOMDAO Management from and against any and all claims, damages, obligations, losses, liabilities, costs, debts, and expenses (including but not limited to attorney’s fees) arising from:
- Participant’s purchase, holding or use of the RDC Tokens;
- breach by Participant of any of its representations or warranties set forth above;
- any failure by Participant to perform or fulfill any of its covenants or agreements set forth in these Terms;
- or any infringement or violation by Participant of any rights of, or laws or regulations applicable to, any other person or entity.
Company reserves the right to exercise sole control over the defense, at your expense, of any claim subject to indemnification under this Section 4. This indemnity is in addition to, and not in lieu of, any other indemnities set forth in a written agreement between you and Company.
- AMENDMENTS TO THE TERMS
The ROOMDAO reserves the right, at its sole discretion, to change, modify, add, or remove portions of the Terms at any time during the Token Sale by posting the amended Terms at http://roomdao.io and update the “Last Revised” date above. The Company may also provide notice to Participant via email to the email address Participant provides during the KYC procedure. The amended Terms will be effective immediately, and Participant’s continued participation in the Token Sale, or continued use or holding of RDC Tokens purchased in the Token Sale, as applicable, shall constitute Participant’s acceptance of the modified Terms.
- LIMITATION OF LIABILIT
THE PARTICIPANT ACKNOWLEDGES AND AGREES THAT, TO THE FULLEST EXTENT PERMITTED BY ANY APPLICABLE LAW, THE DISCLAIMERS OF LIABILITY CONTAINED HEREIN APPLY TO ANY AND ALL DAMAGES OR INJURY WHATSOEVER CAUSED BY OR RELATED TO USE OF, OR INABILITY TO USE, SPEND OR THE ROOMDAO INFRASTRUCTURE UNDER ANY CAUSE OR ACTION WHATSOEVER OF ANY KIND IN ANY JURISDICTION, INCLUDING, WITHOUT LIMITATION, ACTIONS FOR BREACH OF WARRANTY, BREACH OF CONTRACT OR TORT (INCLUDING NEGLIGENCE) AND THAT NONE OF THE ROOMDAO MANAGEMENT SHALL BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, EXEMPLARY OR CONSEQUENTIAL DAMAGES, INCLUDING FOR LOSS OF PROFITS, GOODWILL OR DATA, IN ANY WAY WHATSOEVER ARISING OUT OF THE USE OF, OR INABILITY TO USE, OR ACQUIRE OF, OR INABILITY TO ACQUIRE, SPEND.
THE PARTICIPANT FURTHER SPECIFICALLY ACKNOWLEDGES THAT ROOMDAO MANAGEMENT ARE NOT LIABLE FOR THE CONDUCT OF THIRD PARTIES, INCLUDING OTHER PARTICIPANTS OF SPEND, AND THAT THE RISK OF PURCHASING AND USING SPEND RESTS ENTIRELY WITH THE PARTICIPANT. TO THE EXTENT PERMISSIBLE UNDER APPLICABLE LAWS, UNDER NO CIRCUMSTANCES WILL ANY MEMBERS OF THE ROOMDAO MANAGEMENT BE LIABLE TO ANY PARTICIPANT FOR MORE THAN THE AMOUNT THE PARTICIPANT HAVE PAID TO ROOMDAO MANAGEMENT FOR THE PURCHASE OF RDC TOKENS.
SOME JURISDICTIONS DO NOT ALLOW THE EXCLUSION OF CERTAIN WARRANTIES OR THE LIMITATION OR EXCLUSION OF LIABILITY FOR CERTAIN TYPES OF DAMAGES. THEREFORE, SOME OF THE ABOVE LIMITATIONS IN THIS SECTION 5 AND ELSEWHERE IN THE TERMS MAY NOT APPLY TO A PARTICIPANT. IN PARTICULAR, NOTHING IN THESE TERMS SHALL AFFECT THE STATUTORY RIGHTS OF ANY PARTICIPANT OR EXCLUDE INJURY ARISING FROM ANY WILLFUL MISCONDUCT OR FRAUD OF ROOMDAO MANAGEMENT.
ANY PURCHASE OF RDC TOKEN ARE FINAL. PURCHASE OF RDC TOKENS ARE NON-REFUNDABLE. BY PURCHASING RDC TOKEN, THE PARTICIPANT ACKNOWLEDGES THAT NEITHER ROOMDAO MANAGEMENT NOR ANY OTHER OF THE ROOMDAO MANAGEMENT IS REQUIRED TO PROVIDE A REFUND FOR ANY REASON, AND THAT THE PARTICICPANT WILL NOT RECEIVE MONEY OR OTHER COMPENSATION FOR ANY RDC TOKEN THAT IS NOT USED OR REMAINS UNUSED.
TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW AND EXCEPT AS OTHERWISE SPECIFIED IN A WRITING BY THE COMPANY, (A) RDC TOKENS ARE SOLD ON AN “AS IS” AND “AS AVAILABLE” BASIS WITHOUT WARRANTIES OF ANY KIND, AND COMPANY EXPRESSLY DISCLAIMS ALL IMPLIED WARRANTIES AS TO RDC TOKENS, INCLUDING, WITHOUT LIMITATION, IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE AND NON-INFRINGEMENT; (B) COMPANY DOES NOT REPRESENT OR WARRANT THAT RDC TOKENS ARE RELIABLE, CURRENT OR ERROR-FREE, MEET PARTICIPANT’S REQUIREMENTS, OR THAT DEFECTS IN RDC TOKENS WILL BE CORRECTED; AND (C) COMPANY CANNOT AND DOES NOT REPRESENT OR WARRANT THAT RDC TOKENS OR THE DELIVERY MECHANISM FOR RDC TOKENS ARE FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS.
- INTELLECTUAL PROPERTY
The ROOMDAO’s proprietary assets and any and all intellectual property rights pertaining thereto, including, but not limited to, inventions, patents and patent applications, trademarks, trade names, service marks, copyrightable materials, domain names and trade secrets, whether or not registered or capable of being registered (collectively, the “Intellectual Property”), are owned by and/or licensed to the ROOMDAO and are protected by applicable law and international conventions and treaties. All rights not expressly granted to you hereunder are reserved by the ROOMDAO.
The Participant is solely responsible for determining whether contribution to the Company for the purposes described hereunder, the creation, ownership, use, sale, transfer or liquidation of RDC Tokens, the potential appreciation or depreciation in the value of RDC Tokens over time (if any), the allocation of RDC Tokens and/or any other action or transaction contemplated by these Terms of Token Sale will give rise to any tax implications on Participant’s part.
The Participant is also solely responsible for withholding, collecting, reporting, paying, settling and/or remitting any and all taxes to the appropriate tax authorities in such jurisdiction(s) in which Participant may be liable to pay tax. The Company will not be responsible for withholding, collecting, reporting, paying, settling and/or remitting any taxes (including, but not limited to, any income, capital gains, sales, value added or similar tax) which may arise from Participant’s purchase of RDC Tokens under or in connection with these Terms of Token Sale.
The Participant agrees not to hold the ROOMDAO or ROOMDAO Management liable for any tax liability associated with or arising from the creation, ownership, use or liquidation of RDC Tokens or any other action or transaction related to the Token Sale.
If any term, clause or provision of these Terms is held unlawful, void or unenforceable, then that term, clause or provision will be severable from these Terms and will not affect the validity or enforceability of any remaining part of that term, clause or provision, or any other term, clause or provision of these Terms.
- GOVERNING LAW AND DISPUTE RESOLUTION
All questions concerning the construction, validity, enforcement and interpretation of these Terms and all issues related to RDC Tokens will be governed by and construed and enforced in accordance with the laws of Georgia.
The ROOMDAO and the Participant (hereinafter the “Parties” and each a “Party”) agree to make good faith efforts to resolve any dispute, controversy or claim arising out of or in connection with these Terms or related to their violation, termination or nullity for a period of not less than sixty (60) days following written notification of such controversy or claim to the other Party.
If an amicable settlement cannot be reached, either Party hereto may request, by written notice, that the dispute be resolved by arbitration by one (1) arbitrator administered by Georgian International Arbitration Centre for final settlement by arbitration under the Arbitration Rules of Georgian International Arbitration Centre (GIAC Rules). The place of arbitration shall be Tbilisi, Georgia.
In these Terms, unless the context otherwise requires:
- a) headings do not affect interpretation;
- b) singular includes plural and plural includes singular;
- c) words of one gender include any gender;
- d) the term ‘including’ does not exclude anything not listed;
- e) reference to legislation includes any amendment to it, any legislation substituted for it, and any subordinate legislation made under it;
- f) reference to a person includes a corporation, joint venture, association, government body, firm and any other entity;
- g) reference to a party includes that party’s personal representatives, successors and permitted assigns;
- h) reference to a thing (including a right) includes a part of that thing;
- i) reference to two or more persons means each of them individually and any two or more of them jointly.
These Terms constitute the entire agreement between you and us relating to your purchase of RDC Tokens from us. Our failure to exercise or enforce any right or provision of these Terms will not operate as a waiver of such right or provision. We will not be liable for any delay or failure to perform any obligation under these Terms where the delay or failure results from any cause beyond our reasonable control. Purchasing RDC Tokens from us does not create any form of partnership, joint venture or any other similar relationship between you and us. Except as otherwise provided in herein, these Terms are intended solely for the benefit of you and us and are not intended to confer third-party beneficiary rights upon any other person or entity. You agree and acknowledge that all agreements, notices, disclosures, and other communications that we provide to you, including these Terms, will be provided in electronic form.
OVERVIEW OF ROOMDAO COIN TOKENS AND TOKEN SALE PROCEDURES AND SPECIFICATIONS
PLEASE NOTE THAT FAILURE TO COMPLY WITH THE PROCEDURE AND SPECIFICATIONS MAY RESULT IN PARTICIPANT’S FAILURE TO RECEIVE RDC TOKENS.
- RDC Token is the ERC20-based token developed by the Company to be used solely to acquire access to the ROOMDAO Platform, to exchange hospitality premises and services on the ROOMDAO Platform’s marketplace.
- ROOMDAO Platform also includes any other services the Company may provide in the future and which may be at a later stage available to its users.
- RDC Token holders shall not have any influence in the development or governance of the ROOMDAO, and RDC Token does not represent or constitute any ownership right or stake, share or security or equivalent rights or any right to receive future revenue shares, or any other form of participation in or relating to the Company.
- RDC Tokens issued for the Token Sale can be purchased through our Website available in the Internet only at http://roomdao.io. RDC Tokens Sale presented on any other websites or internet resources shall be considered null and void and shall not put any obligations upon the Company.
- Legally binding acceptance of these Terms shall be conducted by a Participant by clicking the button “I agree” on the Website in the specific field, by submitting a form in the KYC Procedure and by sending an amount of Ethereum (ETH), Bitcoin (BTC) or Bitcoin Cash (BCH) equal to 3,000 (three thousand) Ethereum for 1 (one) RDC Token (according to applicable exchange rates published on the Bitstamp cryptocurrency exchange website via https://www.bitstamp.net as at the time payment is submitted for the purchase of RDC Tokens) on the specific smart-contract addresses provided to you by the ROOMDAO during the Token Sale. From this moment the Token Sale offer shall be considered formally accepted by the respective Participant. Such acceptance shall be deemed irrevocable.
- The Token Sale will be divided into 2 (two) rounds:
“Pre-Sale” is scheduled to begin on April 20th 2018 at 01:00:00 UTC and end on May 20th, 2018 at 01:00:00 UTC or when an amount of ETH, BTC or BCH equivalent of 2,000 (two thousand) Ethereum has been received, whichever is earlier.
“Public Token Sale” is scheduled to begin on July 1st 2018 at 01:00:00 UTC and end on July 30th, 2018 at 01:00:00 UTC or when an amount of ETH, BTC or BCH equivalent of 10,000 (ten thousand) Ethereum has been received, whichever is earlier. The minimum target for the Public Token Sale is set to ETH, BTC or BCH equivalent of 5,000 (five thousand) Ethereum (according to applicable exchange rates published on the Bitstamp cryptocurrency exchange website via https://www.bitstamp.net at the last day of Public Token Sale). If contributions through Public Token Sale will not reach the minimum target, ROOMDAO will not be able to access these funds and all Participants will get a full refund on their cryptocurrencies’ addresses provided during the Token Sale.
The ROOMDAO reserves the right to adjust this schedule and to close the Token Sale early in the event of a sell-out. The ROOMDAO reserves the right to change the date when the Token Sale will begin and further reserves the right to extend the duration for any reason, including the unavailability of the Website or other unforeseen security or procedural issues. The ROOMDAO also reserves the right to shorten the duration for any reason.
- Minimum investment amount is equivalent of 0.25 Ethereum.
- There will be in total 39,600,000 (thirty nine million and six hundred) RCD Tokens available for the Token Sale.
- The ROOMDAO has determined that RDC Tokens shall be distributed on the following basis:
66% of total RCD Tokens shall be distributed during the Token Sale;
20% of total RCD Tokens shall be allocated at the Foundation;
10% of total RCD Tokens shall be retained by the Team;
4% of total RCD Tokens shall be distributed to Advisors, Partners and to the Bounty campaign.
- Only payment amounts we receive within the respective Token Sale period pursuant to Section 5 of this Exhibit A will be considered for the allocation of RDC Tokens to you. In order to enable our smart contract to allocate RDC Tokens to you, it is necessary that you use the Wallet of which you can identify and control the private key and provide us with the Wallet’s public address. Wallets that are stored or hosted on online cryptocurrency exchange platforms are not compatible wallets. Also, the allocation of RDC Tokens to you by our smart contract requires a precursory KYC/AML check.
CERTAIN RISKS RELATING TO PURCHASE, SALE AND USE OF ROOMDAO COIN TOKENS
Prior to purchasing RDC Tokens, the Participant should carefully consider the below risks and, to the extent necessary, consult a lawyer, accountant, and/or tax professionals prior to determining whether to acquire RDC Tokens.
- Risk of Losing Access to RDC Due to Loss of Private Key(s), Custodial Error or Purchaser Error
A private key, or a combination of private keys, is necessary to control and dispose of RDC stored in Participant’s Wallet or another digital wallet or vault. Accordingly, loss of requisite private key(s) associated with your Wallet or other digital wallet or vault storing RDC will result in loss of such RDC. Moreover, any third party that gains access to such private key(s), including by gaining access to login credentials of your Wallet or other digital wallet or vault service you use, may be able to misappropriate your RDC. Any errors or malfunctions caused by or otherwise related to your Wallet or other digital wallet or vault you choose to receive and store RDC, including your own failure to properly maintain or use such Wallet or other digital wallet or vault, may also result in the loss of your RDC. Additionally, your failure to follow precisely the procedures set forth in Exhibit A for buying and receiving RDC may result in the loss of your RDC.
- Risks Associated with the Ethereum Blockchain
Because RDC and the ROOMDAO Platform are based on the Ethereum blockchain, any malfunction, breakdown or abandonment of the Ethereum blockchain may have a material adverse effect on the ROOMDAO Platform or RDC. Moreover, advances in cryptography, or technical advances such as the development of quantum computing, could present risks to RDC and the ROOMDAO Platform, including the use of RDC as a Utility Token, by rendering ineffective the cryptographic consensus mechanism that underpins the Ethereum blockchain.
- Risk of Mining Attacks
As with other decentralized cryptographic tokens based on the Ethereum blockchain, RDC are susceptible to attacks by miners in the course of validating RDC transactions on the Ethereum blockchain, including, but not limited to, double-spend attacks, majority mining power attacks, and selfish-mining attacks. Any successful attacks present a risk to the ROOMDAO Platform and RDC, including, but not limited to, accurate execution and recording of transactions involving RDC.
- Risk of Hacking and Security Weaknesses
Hackers or other malicious groups or organizations may attempt to interfere with the ROOMDAO Platform or RDC in a variety of ways, including, but not limited to, malware attacks, denial of service attacks, consensus-based attacks, Sybil attacks, smurfing and spoofing. Furthermore, because the ROOMDAO Platform is based on an open-source protocol, there is a risk that a third party or a member of the Company team may intentionally or unintentionally introduce weaknesses into the core infrastructure of the ROOMDAO Platform, which could negatively affect the ROOMDAO Platform and RDC, including RDC’s use as a Utility Token.
- Risk Associated with Markets for RDC
RDCs are intended to be used solely in connection with the ROOMDAO Platform, and Company does not support or otherwise facilitate any secondary trading or external valuation of RDC. This restricts the contemplated avenues for using RDC, and could therefore create illiquidity risk with respect to RDC you hold. Even if secondary trading of RDC is facilitated by third party exchanges, such exchanges may be relatively new and subject to little or no regulatory oversight, making them more susceptible to market-related risks. Furthermore, to the extent that third parties do ascribe an external exchange value to RDC (e.g., as denominated in a digital or fiat currency), such value may be extremely volatile and diminish to zero.
- Risk of Uninsured Losses
Unlike bank accounts or accounts at some other financial institutions, RDCs are uninsured unless you specifically obtain private insurance to insure them. Thus, in the event of loss or loss of utility value, there is no public insurer or private insurance arranged by the Company, to offer recourse to you.
- Risks Associated with Uncertain Regulations and Enforcement Actions
The regulatory status of RDC and distributed ledger technology is unclear or unsettled in many jurisdictions. It is difficult to predict how or whether regulatory agencies may apply existing regulation with respect to such technology and its applications. It is likewise difficult to predict how or whether legislatures or regulatory agencies may implement changes to law and regulation affecting distributed ledger technology and its applications, including the ROOMDAO Platform and RDC. Regulatory actions could negatively impact the ROOMDAO Platform and RDC in various ways, including, for purposes of illustration only, through a determination that the purchase, sale, delivery or use of RDC constitutes unlawful activity, or that registration or licensing is required for RDC or for some or all of the parties involved in the purchase, sale, delivery or use of RDC. Company may cease operations in a jurisdiction in the event that regulatory actions, or changes to law or regulation, make it illegal to operate in such jurisdiction, or commercially undesirable to obtain the necessary regulatory approvals to operate in such jurisdiction.
- Risks Arising from Taxation
The Tax characterization of RDC is uncertain. You must seek your own Tax advice in connection with purchasing RDC, which may result in adverse Tax consequences to you, including withholding Taxes, income taxes and Tax reporting requirements.
- Risk of Competing Protocols
It is possible that alternative platforms could be established that utilize the same open source code and protocol underlying the ROOMDAO Platform. The ROOMDAO Platform may compete with these alternative platforms, which could negatively impact the adoption of the ROOMDAO Platform and RDC, including RDC’s use as a Utility Token.
- Risk of Insufficient Interest in the ROOMDAO Platform or Distributed Applications
It is possible that the ROOMDAO Platform will not be used by a large number of individuals, companies and other entities or that there will be limited public interest in the creation and development of distributed protocols and decentralized applications, more generally. Such a lack of use or interest could negatively impact the development of the ROOMDAO Platform and the potential utility of RDC, including its use as a Utility Token.
- Risks Associated with the Development of the ROOMDAO Platform
The ROOMDAO Platform’s development will be completed and the ROOMDAO Platform will be deployed after the Token Sale, and will be subject to ongoing development and may undergo significant changes over time. How other participants will use the ROOMDAO Platform is also outside of Company’s control. This could create the risk that RDC or the ROOMDAO Platform, as further developed and used, may not meet your expectations at the time of purchasing RDC. It is also possible that the ROOMDAO Platform will experience malfunctions or otherwise fail to be adequately developed over time, which may negatively impact the ROOMDAO Platform and the potential utility of RDC, including its use as Utility Token.
- Risk of an Unfavorable Fluctuation of Ether and Other Currency Value
The Company team intends to use the proceeds from selling RDC to contribute to the ongoing development of the ROOMDAO Platform, as described in Exhibits A and B. The proceeds of the Token Sale will be denominated in Ethereum and may, at Company’s discretion, be converted into other cryptographic and fiat currencies. If the value of Ethereum or other currencies fluctuates unfavorably during or after the Token Sale, the Company team may not be able to contribute to ongoing development of the ROOMDAO Platform in the manner that it intended.
- Risk of Dissolution of the Company
It is possible that, due to any number of reasons, including, but not limited to, an unfavorable fluctuation in the value of Ethereum (or other cryptographic and fiat currencies), decrease in RDC’s utility, including its use as a Utility Token), the failure of commercial relationships, or intellectual property ownership challenges, the Company may dissolve. The dissolution of Company may still adversely impact the ROOMDAO Platform and the utility of RDC, given Company’s role in developing the ROOMDAO Platform and its anticipated role in contributing to the ongoing development of the ROOMDAO Platform.
- Risks Arising from Lack of Governance Rights in Company
Because RDC confer no governance rights of any kind with respect to Company, all decisions involving the Company will be made by Company at its sole discretion, including, but not limited to, decisions to discontinue contributions to the ROOMDAO Platform’s ongoing development or to sell or liquidate the Company. As noted above, the consequences of those decisions could adversely impact the ROOMDAO Platform and the utility of RDC that you hold, including RDC’s use as a Utility Token.
- Risks Associated with New and Evolving Laws Impacting Decentralized Application Technology
The distributed ledger and decentralized application ecosystem, and by extension the Platform, may be subject to a variety of federal, state and international laws and regulations, including those with respect to financial services, consumer privacy, data protection, consumer protection, content regulation, network neutrality, cyber security, intellectual property (including copyright, patent, trademark and trade secret laws, and others. These laws and regulations, and the interpretation or application of these laws and regulations, could change. In addition, new laws or regulations affecting the ROOMDAO Platform could be enacted, which could adversely impact the Company, the ROOMDAO Platform and RDC, including RDC’s use as a Utility Token.
Additionally, the users and developers of the ROOMDAO Platform may be subject to industry-specific laws and regulations or licensing requirements. If any of these parties fails to comply with any of these licensing requirements or other applicable laws or regulations, or if such laws and regulations or licensing requirements become more stringent or are otherwise expanded, it could adversely impact the ROOMDAO Platform and RDC, including RDC’s use as a Utility Token.
- Specific Risks Relating to Value and Function of RDC
The launch of new features on the ROOMDAO Platform utilizing RDC may be delayed for reasons beyond Company’s control and may ultimately prove unsuccessful. Company may discontinue features if they are not profitable, regulations related to real estate services or licensing requirements change, or for other reasons.
The value of RDC will be affected by the demand for the token relative to its supply. The ability to convert RDC into other cryptocurrencies or fiat currencies will depend on the development of a trading market for the token. Company has no obligation to promote or support trading of RDC.
No promises of future performance or value are or will be made with respect to RDC, including no promise of inherent value, no promise of continuing payments, and no guarantee that RDC will hold any particular value.
- Unanticipated Risks
Cryptographic tokens such as RDCs are a new and untested technology. In addition to the risks included in this Exhibit B there are other risks associated with your purchase, holding and use of RDC, including those that the Company cannot anticipate. Such risks may further materialize as unanticipated variations or combinations of the risks discussed in this Exhibit B.
ROOMDAO LTD. (hereinafter the “Company”, “ROOMDAO”, “we” or “us”) respects the privacy of users of its website at http://roomdao.io and related services.
COLLECTION OF INFORMATION
ROOMDAO collects personal information from you in a variety of ways, including when you interact with us electronically or in person, when you access our Website and when we provide our services to you.
We may collect Personal Information and Automatically Collected Information from our users.
Personal information is collected only when voluntarily offered and solely for purposes that are clearly identified on our Website. Personal information means any information that is unique to you, such as your:
- Full Name or the name of an entity you represent;
- Username Password, if required;
- Email address;
- Cryptocurrency address of your public wallet address;
- Mailing address and country of residence;
- Proof of Address;
- Scan of your Personal ID;
- Other personal information required for «Know Your Customer” (KYC) and «Anti-Money Laundering» (AML) checks where applicable.
When you use our Website or services available on our Website, we automatically collect the information which may include (but is not limited to):
- your login details, the date and time of visits, the pages viewed, your IP address, time spent at our Website and the websites you visit just before and just after our Website;
- information about the computer or mobile device you use to access our Website, including the hardware model, operating system and version, the web browser you use, and other device identifiers;
- if you use any of our open source software, we may collect bandwidth upload and download speeds, the amount of free and used storage space on your device and other statistics about your device;
- metadata about the files you upload for storage and we will record instances in which you have used your private key to authenticate communications;
- information collected by cookies and other tracking technologies.
For avoidance of doubt, any Automatically Collected Information connected or linked to any Personal Information shall be deemed as Personal Information as long as such connection or linkage exists.
USE OF YOUR INFORMATION
ROOMDAO will collect and use the personal data of our users, provided to us directly or given to us in other forms, only insofar as this is necessary for the provision of a functional website as well as our content and services.
ROOMDAO may use personal information collected from you to provide you with information, updates and our services. We may use your personal information to improve our products and services and better understand your needs. ROOMDAO may contact you by a variety of measures including, but not limited to mail and email. We also collect personal information in order to fulfill legal or regulatory requirements and carry out any other purpose or reason for which the information was collected.
PROTECTION OF PERSONAL INFORMATION
We take reasonable steps to protect the security of the information communicated through our Website. However, no computer security system is entirely foolproof and the Internet is not a secure method of transmitting information. As a result, we do not assume any responsibility for the information you submit to or receive from us through the Internet or for any unauthorized access or use of that information and we cannot and do not guarantee that information communicated by you to us or sent to you by us will be received or that it will not be altered before or after its transmission to us. You agree to not hold us and any of the owners and managers of, and/or the contractors providing services to ROOMDAO, and/or their successors and/or assignees (hereinafter the “ROOMDAO Management”) liable for any loss or damage of any sort incurred as a result of any misappropriation, interception, modification, deletion, destruction or use of information provided through our Website.
RIGHT TO INFORMATION
In accordance with Article 21 of Law of Georgia on Personal Data Protection you have the right to request information from the ROOMAO on processing of your data. Upon your written request we will be pleased to inform you about the personal data stored on your person and of course we will comply with your further asserted claims.
DISCLOSURE OF INFORMATION
We do not sell, trade, or otherwise transfer to outside parties your personally identifiable information. This does not include trusted third parties who assist us in operating our website, conducting our business, or servicing you, so long as those parties agree to keep this information confidential. We may from time to time need to disclose personal information to comply with a legal requirement, such as a law, regulation, court order, subpoena, warrant, in the course of a legal proceeding or in response to a law enforcement agency request. We may also release your information to protect the copyright, trademarks, legal rights, property or safety of ROOMDAO and our Website, customers or third parties.