The following Terms and Conditions (“T&Cs”) govern the contribution procedure to DATAVLT, owned by Edrei Solutions Pte. Ltd., a Private Limited Company in Singapore, by contributors (“Contributors” collectively, and “Contributor” individually) and the subsequent allocations of transferable cryptographic blockchain-based digital information units called DVT (“DVTs” for multiple, and “DVT” for singular) to Contributors.
The DATAVLT Pre-ICO Whitelist Programme Token Sales (“Pre-ICO Token Sales”) Ethereum wallet address is 0x26599cD43E65107b738A2AcEB3bB47E3329EDe7F and Contributors can check for sales progress at http://www.datavlt.com.
Contributors may be interested in purchasing DVT in the DATAVLT Pre-ICO Whitelist Programme Token Sales for reasons including but not limited to ensuring the independence of the project and the subscription of products and services rendered by DATAVLT.
Purchases of DVT(s) are non-refundable. By participating in the sale of DVT(s), you expressly acknowledge and represent that you have carefully reviewed the Terms. As set forth further below, you further represent and warrant that, to the extent permitted by law, you are authorized to purchase DVT(s) in your relevant jurisdiction, are of a legal age to be bound by these Terms, and will not hold DATAVLT, it’s holding company (“Holding Company”), the officers, directors, agents, joint ventures, employees and suppliers (“Afflilates”) now or in the future liable for any losses or any special, incidental, or consequential damages arising out of, or in any way connected to the Token Sale of DVT.
DATAVLT promotes and develops new technologies and applications, especially in the fields of applied data analytics leveraged and enhanced by decentralized software architectures. One of the most important but not exclusive focus is set on the promotion and development of the application verticals, in specific to enterprise data analytics and predictive forecasting for the digital currency market. Operation of DATAVLT involves transferable cryptographic blockchain-based digital information units called DVT. DVT is a token that allows the holder to request for data-based products and services that supports the overall utility ecosystem of DATAVLT.
Understanding of cryptographic tokens and blockchain-based software systems – Purchases of DVT should be undertaken only by individuals, entities, or companies that have significant experience with, and understanding of, the usage and intricacies of cryptographic tokens and blockchain-based software systems.
Volatility in Pricing – Cryptographic tokens that possess value in public markets, such as ETH and BTC, have demonstrated extreme fluctuations in price over short periods of time on a regular basis. A Contributor of DVT should be prepared to expect similar fluctuations, both down and up, in the price of DVT denominated in ETH or United States dollars (“USD”) or other fiat currencies of other jurisdictions. Such fluctuations are due to market forces and represent changes in the balance of supply and demand. DATAVLT cannot and does not guarantee market liquidity for DVTs. Therefore, there may be periods of time in which DVTs may be difficult to buy. Additionally, due to different regulatory dictates in different jurisdictions and the inability of citizens of certain countries to open accounts at exchanges located anywhere in the world, the liquidity of DVTs may be markedly different in different countries and this would likely be reflected in significant price discrepancies. By purchasing DVT(s), you expressly acknowledge and represent that you fully understand that DVT(s) may experience volatility in pricing and will not seek to hold DATAVLT, its Holding Company and Affiliates liable for any losses or any special, incidental, or consequential damages arising from, or in any way connected to the sale of DVT(s).
Risks – The purchase of DVT has a number of risks. Prior to purchasing DVT(s), you should carefully consider the risks listed below and, to the extent necessary, consult an appropriate lawyer, accountant, or tax professional. If any of the following risks are unacceptable to you, you should not purchase DVT(s). By purchasing DVT(s), and to the extent permitted by law, you are agreeing not to hold DATAVLT, its Holding Company and Affiliates liable for any losses or any special, incidental, or consequential damages arising from, or in any way connected, to the sale of DVT(s), including losses associated with any related risks.
Overview of Pre-ICO Token Sales of DVT(s)
DATAVLT will produce and market a quantity of DVT(s) in a Pre-ICO Token Sale.
There is a minimum purchase requirement of three (3) ETH with of DVTs for this Pre-ICO Token Sale.
Contributors will be required to send their ETH to the DATAVLT Ethereum wallet address at 0x26599cD43E65107b738A2AcEB3bB47E3329EDe7F.
Contributors in the Pre-ICO Token Sales will acquire DVT(s) in exchange for ETH at predefined rate of one (1) ETH = seven thousand five hundred (7,500) DVTs. Contributors of DVT(s) in the Pre-ICO Token Sale will be awarded DVTs within fourteen (14) working days after the Pre-ICO Token Sales which ends on 22 December 2017 at 09:00hrs (GMT+8).
Timing of Pre-ICO Token Sale – The Pre-ICO Token Sale will begin on 15 December 2017 at 09:00hr (GMT+8) and end on 22 December 2017 at 09:00hrs (GMT+8).
DATAVLT reserves the right to change the duration of the Pre-ICO Token Sale period for any reason, including but not limited to unforeseen circumstances like; security or procedural issues, as examples.
Initial Bonus of DVT(s) – An additional twenty percent (20%) of DVTs per ETH will be offered as a bonus to Contributors only during the Pre-ICO Token Sales. I.e. one (1) ETH = 9000DVTs.
DATAVLT will place a cap on the total number of DVTs that can be purchased by the community at 900,000,000.
Each Contributor has the option to calculate the total number of DVT sold to enable the Contributor to develop an understanding of the size of the existing DVT pool at the time of their DVT purchase.
Failure to follow instructions provided by DATAVLT may limit, delay, or prevent a Contributor from obtaining DVTs. Any questions about these instructions should be directed to firstname.lastname@example.org.
Obligation to Determine If Contributor Can Purchase DVT in Contributor’s Jurisdiction – The Pre-ICO Token Sale constitutes the sale of legal software products and services under the Singapore law. It is the responsibility of each potential Contributor of DVTs to determine if the Contributor can legally purchase DVTs in the Contributor’s jurisdiction.
Acceptance of Terms and Conditions – As a first step in the purchase process, DATAVLT will present the Contributor with these Terms, and associated documents. The Contributor: (i) consents and agrees to the Terms; (ii) represents and warrants that the Contributor is legally permitted to purchase DVT in the Contributor’s jurisdiction and is legally permitted to receive products of Singapore origin; (iii) represents and warrants that the Contributor is of a sufficient age to legally purchase DVT or has received permission from a legal guardian who has reviewed and agreed to these Terms; (iv) represents and warrants that the Contributor will take sole responsibility for any restrictions and risks associated with the purchase of DVT as set forth below; (v) represents and warrants that Contributor is not exchanging Ethereum (ETH) for DVTs for the purpose of speculative investment; (vi) represents and warrants that the Contributor is acquiring DVTs for the use of decentralized application services or the purchase of tokens specific to forthcoming decentralized applications by DATAVLT; (vii) represents and warrants that the Contributor has an understanding of the usage and intricacies of cryptographic tokens, like ETH, and blockchain-based software systems.
No third-party website or online service offers DVTs for sale during the Pre-ICO Token Sales or facilitates the sale or transfer of DVTs in any way during the Pre-ICO Token Sales. As a result, DATAVLT prohibits the use of these third-party websites or online services for the purchase of DVTs prior to the end of the Pre-ICO Token Sales.
In the interest of fairness and inclusiveness, DATAVLT will apply certain limitations on the sale of DVTs. DATAVLT will not purchase its own DVTs during the Pre-ICO Token Sale. Furthermore, DATAVLT warrants that it will not purchase DVTs from any third party, or acquire DVTs in any manner, or acquire future control of DVTs, during the period of the Token Sale.
Certain Risks Associated with the Purchase of DVTs – The purchase of DVTs carries with it significant risk. Prior to purchasing DVTs, the Contributor should carefully consider the below risks and, to the extent necessary, consult a lawyer, accountant, and/or tax professionals prior to determining whether to purchase DVTs. Some of the risks, but not limited to, are listed as of below:
Risk of Dissolution of DATAVLT due to a Diminishment in the Value of the ETH Sale Revenue – All Contributors are paying ETH to purchase DVTs. It is possible that the value of ETH will drop significantly in the future, depriving DATAVLT of sufficient resources to continue to operate. In order to guard against this risk, DATAVLT intends to periodically convert proceeds from the sale of DVTs into fiat currencies instead of ETH.
Risk of Regulatory Action in One or More Jurisdictions – Cryptocurrencies have been the subject of regulatory scrutiny by various regulatory bodies around the globe. DATAVLT and the DVT could be impacted by one or more regulatory inquiries or regulatory actions, which could impede or limit the ability of DATAVLT to continue to develop.
Risk of Insufficient Interest in DATAVLT or its Distributed Applications- It is possible that DATAVLT will not be used by a large number of external businesses, individuals, and other organizations and that there will be limited public interest in the creation and development of distributed applications. Such a lack of interest could impact the development of DATAVLT and potential uses of DVTs. DATAVLT has contracted with developers to help build the applications and is working with other third-party developers around the world to create an interest in its products and services. However, it cannot predict the success of its own development efforts or the efforts of other third Parties.
Risk Associated with the Development of Other Similar Products and Services for Decentralized Applications – DATAVLT is one of several organizations, companies, and groups, attempting to integrate the data analytics process leveraged onto the blockchain technology. It is possible that different technical paradigms than the ones being used in the DATAVLT implementation are more optimal. While DATAVLT anticipates being a leader in the development of this technology, competition from these alternative platforms for decentralized applications may impact success and the ability of DATAVLT to operate and sell DVTs in the future.
Risk that DATAVLT will not meet the expectations of Contributors – The Contributor recognizes that DATAVLT is presently under development and may undergo significant changes before release. Contributors acknowledges that any expectations regarding the form and functionality of DATAVLT held by the Contributors may not be met upon release of the its products and services, for any number of reasons including a change in the design and implementation plans and execution of the implementation.
Risk that DATAVLT may never completed or release its products and services – The Contributor understands, that while the DATAVLT team will make best efforts to complete and deliver its products and services, it is possible that an official completed version of DATAVLT may not be released and there may never be operational.
Risk of Theft, Hackers or other groups or organizations may attempt to steal the ETH revenue from the Pre-ICO Token Sales – This potentially impacts the ability of DATAVLT to develop its products and services. To account for this risk, and with best efforts, DATAVLT will implement security precautions to safeguard the ETH obtained from the sale of DVTs.
Risk of Rapid Adoption and Insufficiency of Computational Application Processing Power – If DATAVLT is rapidly adopted, the demand for transaction processing and distributed application computations could rise dramatically and at a pace that exceeds the rate with which ETH miners can bring online additional mining power. Under such a scenario, DATAVLT could become destabilized, due to the increased cost of running distributed applications. In turn, this could dampen interest in DATAVLT and the DVT. Insufficiency of computational resources and an associated rise in the price of DVTs could result in businesses being unable to acquire DATAVLT products and services. This would represent revenue losses to DATAVLT or worst case, cause DATAVLT to cease operations because of uneconomical distortions in the crypto-economy.
All purchases of DVTs are non-refundable and all purchases of DVT are final. By purchasing DVT, the Contributor acknowledges that DATAVLT is not required to provide a refund for any reason, and that the Contributor will not receive money or other compensation for any DVT that remains unused.
Taxation of DVT and Taxation Related to the Pre-ICO Token Sales – DATAVLT makes no representations concerning the tax implications of the sale of DVTs or the possession or use of DVTs. The Contributor bears the sole responsibility of determining if the purchase of DVTs with ETH or the potential appreciation or depreciation in the value of DVT over time has tax implications for the Contributor in the Contributor’s home jurisdiction. The Contributor agrees to not hold DATAVLT, its Holding Company and Affiliates liable for any tax liability associated with or arising from the purchase of DVTs
Privacy – DATAVLT will not publish any identifying information related to a DVT purchase, without the prior written consent of the Contributor. Contributors may be contacted by email by DATAVLT regarding a purchase. Such emails will be informational and confidential.
Disclaimer of Warranties – The Contributor expressly agrees that the Contributor is purchasing DVT at the Contributor’s sole risk and that DVTs are provided on an “as is” basis without warranties of any kind, either express or implied, including, but not limited to, warranties of title or implied warranties, merchantability or fitness for a particular purpose (except only to the extent prohibited under applicable law with any legally required warranty period to the shorter of thirty days from first use or the minimum period required) without limiting the foregoing, none of DATAVLT warrant that the process for purchasing DVT will be uninterrupted or error-free.
Limitations Waiver of Liability – The Contributor 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, DVTs or the DATAVLT products and services, 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 DATAVLT, its Holding Company and Affiliates 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 purchase of, or inability to purchase, DVTs. The Contributor further agrees not to hold DATAVLT, its Holding Company and Affiliates liable for the conduct of third Parties, including other Contributors of the DVT, and that the risk of purchasing and using DVT rests entirely with the Contributor.
To the extent permissible under applicable laws – Under no circumstances will DATAVLT, its Holding Company and Affiliates be liable to any Contributor for more than the amount the Contributor has paid to DATAVLT for the purchase of DVTs. 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 and elsewhere in the terms may not apply to a Contributor. In particular, nothing in these terms shall affect the statutory rights of any Contributor or exclude injury arising from any wilful misconduct or fraud of DVT.
Jurisdiction of the Sales – The DATAVLT Pre-ICO Token Sale is being organized in Singapore, under the laws of Singapore.
Force Majeure – DATAVLT is not liable for failure to perform solely caused by:
delays in delivery of materials,
acts of civil or military authorities,
acts by common carriers, emergency conditions (including weather conditions) incompatible with safety or good quality workmanship, or
any similar unforeseen event that renders performance commercially implausible.
Complete Agreement – These terms set forth the entire understanding between each Contributor and DATAVLT with respect to the purchase and sale of DVTs. For facts relating to the sales and purchase, the Contributor agrees to rely only on these documents in determining purchase decisions and understands that these documents govern the sale of DVTs and supersedes any public statements about the Pre-ICO Token Sale made by third Parties or by the DATAVLT team or individuals associated with DATAVLT, past and present and during the Pre-ICO Token Sales period.
Severability – The Contributor and DATAVLT agree that if any portion of these Terms is found illegal or unenforceable, in whole or in part, such provision shall, as to such jurisdiction, be ineffective solely to the extent of such determination of invalidity or unenforceability without affecting the validity or enforceability thereof in any other manner or jurisdiction and without affecting the remaining provisions of the Terms, which shall continue to be in full force and effect.
No Waiver – The failure of DATAVLT to require or enforce strict performance by the Contributor of any provision of these Terms or DATAVLT’s failure to exercise any right under these agreements shall not be construed as a waiver or relinquishment of DATAVLT’s right to assert or rely upon any such provision or right in that or any other instance. The express waiver by DATAVLT of any provision, condition, or requirement of these Terms shall not constitute a waiver of any future obligation to comply with such provision, condition or requirement. Except as expressly and specifically set forth in this these Terms, no representations, statements, consents, waivers, or other acts or omissions by DATAVLT shall be deemed a modification of these Terms nor be legally binding, unless documented in physical writing, hand signed by the Contributor and a duly appointed officer, employee, or agent of DATAVLT.
Updates to the Terms and Conditions of the Pre-ICO Token Sales – DATAVLT reserves the right, at its sole discretion, to change, modify, add, or remove portions of the Terms, at any time during the sale by posting the amended Terms on its website. Any Contributor will be deemed to have accepted such changes by purchasing DVTs. The Terms may not be otherwise amended except in a signed writing executed by both the Contributor and DATAVLT. If at any point the Contributor does not agree to any portion of the then-current version of the Terms, DVTs should not be purchased.
For further information regarding the DATAVLT Pre-ICO Whitelist Programme Token Sale, please contact email@example.com.