Legal and token sale terms
These terms and conditions (hereinafter the “Terms”) describe information applicable to the use of the KinderCoin.io website and its ICO, which is owned and operated by Lion City Education. By using the website or its related services, including Token sale process (ICO), you expressly agree to be bound by all of the terms and conditions set forth. In accepting this agreement, you acknowledge that you have read this agreement, understand it, and had an opportunity to seek independent legal advice prior to agreeing to it. You also warrant that you are at least 18 years old and have full capacity to contract under applicable law; only transacting on KinderCoin with legally-obtained funds that belong to you; not furthering, performing, undertaking, engaging in, aiding, or abetting any unlawful activity through your relationship with us or through your use of KinderCoin; and, comporting with and obeying all applicable laws.
At any point, if you do not agree to any portion of the current Terms, you should not proceed to use the website or participate in the Token sale. KinderCoin has the right to review and amend the current agreement at any time without notice. Unfortunately, residents of Singapore and US persons are prohibited from participating in the ICO.
The list of risks specified in these Terms is not comprehensive, as well as it may not contain those risks which cannot be predicted at the present moment. If you are not sure that you can estimate the probability of occurrence of such risks by yourself, you are advised to contact an appropriate specialist (a lawyer, an auditor, an adviser or a programmer) before making a decision about entering into the relations with the Service and participate in our ICO.
By purchasing the KinderCoin Tokens, the Purchaser confirms that he/she:
- Is legally permitted to purchase Tokens in the Purchaser’s jurisdiction;
- Is of a sufficient age to legally purchase Tokens or has received permission from a legal guardian who has reviewed and agreed to these Terms and the Sale Agreement;
- Will take sole responsibility for any restrictions and risks associated with the purchase of Tokens as set in the Terms;
- Is not exchanging Bitcoin for Tokens for the purpose of speculative investment;
- Has a full and complete understanding of the usage and intricacies of Blockchain-based assets, like Tokens, Bitcoins and Blockchain-based software systems.
The Users bears the sole responsibility to determine if the contribution to and receipt from the Smart Contract System, including but not limited to the acquisition of Tokens, change of the Token's value with the course of time and the receive function of the Smart Contract System shall be a taxable event for the User. The Users bear full responsibility for timely and correct calculation and payment of all taxes due in accordance with the legislation applicable to the Users. The Service is not a tax agent of the User, as well as it does not advise the User on the order of calculation and/or the payment of taxes.
The Purchaser acknowledges and agrees that the Purchaser will not hold any developers, auditors, contractors or founders of the Service, the Blockchain System liable for any and all damages or injury whatsoever caused by or related to the use of, or the inability to use, Tokens, Services or Blockchain system 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 developers, auditors, contractors or founders of the Blockchain System and/or the Services shall not 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 the inability to use of the Blockchain System and/or Services. The Purchaser further specifically acknowledges that developers, auditors, contractors or founders of the Tokens, Smart Contract System and/or the Services are not liable, and the User agrees not to seek to hold them liable, for the conduct of third parties, including other creators of Token, and that the risk of buying, holding and using Token rests entirely with the User. Lion City Education does not guarantee the permanent and uninterruptible operation of the Site and does not take any responsibility for direct, indirect, accidental, special, circumstantial or punitive damages, including but not limited to the losses in the form of lost profit for the mistakes and/or technical issues in operation of the Site, or restriction of the access to the Site on the territory of any jurisdiction.
The User agrees 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.
The Terms govern the creation, transfer and holding of the Tokens and supersede any public statements about the launch of Tokens and/or the Smart Contract System made by anyone in the past, present and future.
The applicable law is Singapore law. Any dispute arising out of or in connection with the creation of the Tokens and the development of Services shall be finally settled by the ordinary courts of the registered domicile of the defendant.
First of all The Purchasers understand that participating in Token Sale may result in financial losses! Nothing in the Service, in the Terms or in any statements or information contained on the Site at any moment, or in any means of communication of the Service (including but not limited to the publications in social media, as well as the statements or declarations made by inter alia the representatives of the Service, notwithstanding whether they had been made personally or on behalf of the Service), notwithstanding the time of their occurrence, shall be construed as the guarantee of gaining profit or benefit in any other form. Business projects are highly risky. Buying KinderCoin tokens is a considerable risk. The investors and managers incur the following risks: inherent risk, loss risk, theft risk, compliance risk, risk of misconception. Once the investor sends his cryptocurrency to one of the project’s wallets, he confirms that he understands and accepts the risks and potential irreversible losses. The project managers only risk losing their own personal investments.
The risks highlighted below are worth considering but they are not exhaustive.
Risks relating to insufficient secondary market liquidity
Even if digital tokens are tradable in a secondary market, in practice, there may not be enough active buyers and sellers or the bid-ask spreads may be too wide. Consumers may not be able to exit their token investments easily. In the worst case scenario where no secondary market develops, a consumer may not be able to liquidate his token holdings at all. The exchanges or platforms that facilitate secondary trading of digital tokens may not be regulated by MAS.
Risks relating to highly speculative investments
The valuation of digital tokens is usually not transparent, and highly speculative. While the digital tokens are backed by tangible assets, expectations and buying and selling behaviour of investors will still determine prices. Such tokens would be merely speculative investments and their traded price can fluctuate greatly within a short period of time. There is a high risk that a consumer could lose his entire investment amount. In the worst case scenario, the digital tokens could be rendered worthless.
Risk related to cryptocurrency values
The Purchaser understands that there may be serious risks connected with cryptocurrency, such as heavy fluctuations of virtual or actual currency values, which in turn may lead to loss of currency over short or long periods.
Risks of money laundering and terrorist financing
Funds invested into investment schemes involving digital tokens are prone to being misused for illegal activities due to the anonymity of transactions, and the ease with which large sums of monies may be raised in a short period of time. Consumers would be adversely affected if law enforcement agencies investigate any alleged illicit activities related to the token investment scheme.
- There is no guarantee that the invested funds will be safe or will lead to profits.
- All of your investments might be lost!
- The investments are not insured and there is no private or government insurance representative that the investors can address.
- There is no guarantee of the token’s liquidity in the future. There is a risk that the tokens won’t be in demand. There is also no assurance that the market price of the KinderCoin Tokens will not decline below the original purchase price. The Purchase price may not be indicative of the market price of the KinderCoin Tokens after they have been made available for trading on a cryptocurrency exchange.
- There is a risk of theft of the entire projects’s assets by fraudsters or hackers.
- There is a risk of appearance of regulatory or legal restrictions, which can complicate the project’s work or stop it altogether. Lion City Education or the KinderCoin Tokens may be affected by newly implemented regulations.
Cryptocurrency trading is generally still unregulated worldwide, but numerous regulatory authorities across jurisdictions have been outspoken about considering the implementation of regulatory regimes which govern cryptocurrency or cryptocurrency markets. Lion City Education or the KinderCoin Tokens may be affected by newly implemented regulations relating to cryptocurrencies or cryptocurrency markets, including having to take measures to comply with such regulations, or having to deal with queries, notices, requests or enforcement actions by regulatory authorities, which may come at a substantial cost.
Further, it is difficult to predict how or whether governments or regulatory authorities may implement any changes to laws and regulations affecting distributed ledger technology and its applications, including Lion City Education and the KinderCoin Tokens. Lion City Education may also have to cease operations in a jurisdiction that makes it illegal to operate in such jurisdiction, or make it commercially unviable or undesirable to obtain the necessary regulatory approval(s) to operate in such jurisdiction. In scenarios such as the foregoing, the utility, liquidating, and/or trading price of KinderCoin Tokens will be adversely affected or KinderCoin Tokens may cease to be traded.
- There is a risk of a fail investment, which the project might proclaim unprofitable and write off as a loss.
- There are technical risks (e.g. connected to Ethereum) that might cause the project to be unable to make a transaction of the profits.
- There is a risk of cryptocurrency, fiat currency or investment devaluation.
- There is a corporate risk of losing control over shares of the company.
Hence, User therefore understands and accepts that the transfer of cryptocurrency to Lion City Education’s KinderCoin project may result in a total loss and that Purchaser shall not have any claim whatsoever to reclaim any cryptocurrency lost.
The Purchaser acknowledges and understands that the Tokens have no warranty whatsoever, expressedor implied, to the extent permitted by Applicable Law and accordingly that Tokens are purchased on an"as is" basis.
All investors must read carefully and accept these conditions and all the risks!