SUPPLEMENTAL AIRDROP TERMS
(a).
“Prohibited Jurisdiction” means: (i) each of Algeria, Bangladesh, Cuba, Ecuador, Iraq, Iran, Kyrgyzstan, Lybia, Nepal, North Korea, Pakistan, Palestinian Territory, People’s Republic of China, Russia, Sudan (both North and South), Syria, and regions of Ukraine including Crimea, Donetsk, Luhansk; (ii) any jurisdiction in which the ownership of the BSX Tokens is prohibited by applicable laws; and (iii) any additional jurisdictions which Company may add to this list at any time, with or without prior notice.
(b).
“Prohibited Person” means any Person, as determined by Company in its sole and absolute discretion, that is:
(i)
a Person unable to pass Company’s know-your-client requirements as may be determined by Company from time to time in its sole and absolute discretion;
(ii)
a U.S. Person;
(iii)
a member of the public in the British Virgin Islands;
(iv)
a citizen or resident of or located in, or a legal entity formed or incorporated within or subject to the laws of, a Prohibited Jurisdiction (irrespective of whether use of a virtual private network or other technical workaround to effect such transaction and avoid detection within a Prohibited Jurisdiction);
(v)
an individual or an individual employed by or associated with a legal entity or a legal entity identified on the United States Department of Commerce’s denied persons or entity list, the United States Department of Treasury’s specially designated nationals or blocked persons lists, the United States Department of State’s debarred parties list, the consolidated sanctions list maintained by the United States Department of Treasury’s Office of Foreign Assets Control, His Majesty’s Treasury’s Office of Financial Sanctions Implementation, or any other sanctions list;
(vi)
a Person identified as a terrorist organization on any other relevant lists maintained by any Governmental Authority;
(vii)
a Person acting, directly or indirectly, in contravention of any Applicable Law;
(viii)
a Person in any manner limited or prohibited (or that requires licensing, registration or approval of any kind) from the purchasing, possessing, transferring, using or otherwise conducting a transaction involving any amount of BSX Tokens under Applicable Law;
(ix)
a Person that has been involved at any time in any type of activity associated with money laundering or terrorist financing or any other applicable anti-corruption or anti bribery statute or has been subject to any investigation or sanction by, or a request for information from, any Governmental Authority relating to money laundering, terrorist financing, corruption or bribery in any jurisdiction or under any Applicable Law; or
(x)
a Person that is a politically exposed person (“PEP”) as defined by the Financial Action Task Force (or such similar Person under any Applicable Law) as an individual who is or has been entrusted with a prominent public function or an immediate family member or close associate of a PEP or any corporation, business or other entity that has been formed by, or for the benefit of, a PEP or any immediate family member or close associate of a PEP.
AIRDROPS; BSX TOKENS; USER’S REPRESENTATIONS
2.1.
2.2.
2.3.
(a).
Holding or ownership of any BSX Tokens does not represent or confer any ownership right or stake, share, or equivalent rights, or any right to receive intellectual property rights in or relating to the Website, Company, or any of Company’s Affiliates. The Tokens are not intended to be or to represent a stock, a loan contract, a commodity, a currency, a share, an investment creating or acknowledging indebtedness, an instrument giving entitlements to securities, a certificate representing certain securities, an option, a future, or a contract for difference in the British Virgin Islands or in any permitted jurisdictions, or any voting or governance rights or any other right to influence the development or operation of Company, and do not represent any ownership right of or in Company. However, without limitation to the above, Company reserves all rights with respect to pursuing any form of decentralized governance should it so determine that doing so would be in the best interests of the holders of BSX Tokens from time to time.
(b).
Certain jurisdictions expressly prohibit or restrict the offer, sale, and/or purchase of cryptocurrencies and/or cryptographic tokens, while other jurisdictions may require Company and/or cryptographic tokens to be licensed, registered, or otherwise regulated. The BSX Tokens may be deemed to be securities for purposes of securities laws in various jurisdictions such that the offer or sale of BSX Tokens in such jurisdiction may require registration or other steps to be taken or steps to be taken with the relevant Governmental Authorities in those jurisdictions. Company and its Affiliates have taken no such steps, nor has any relevant exemption been confirmed. Persons (natural or legal) who are a resident or tax resident, have a domicile in or otherwise have a relevant connection with any Prohibited Jurisdiction are excluded from participating in an Airdrop and possessing and using any BSX Tokens. BSX Tokens may not be marketed, offered or sold directly or indirectly to any Prohibited Person. The information contained in the General Terms and these Token Terms do not constitute an offer to sell or an invitation, advertisement or solicitation of an offer to buy any BSX Tokens within a Prohibited Jurisdiction or to any Prohibited Person. For the avoidance of doubt, the list of Prohibited Jurisdictions may be changed from time to time, irrespective of the awareness of Company and relevant amendments may be made to these Token Terms. User is only permitted to use the Website and claim BSX Tokens if User is not a Prohibited Person. To the extent a Prohibited Person attempts to enter into these Token Terms, claim BSX Tokens, or use the Website, such purported activity is void and of no force or effect.
(c).
BSX Tokens may not be re-offered, resold or transferred, except in a transaction that is compliant with Applicable Law. Any action that is in violation of these restrictions shall be void ab initio and Company reserves the right to exercise any available legal remedy to recover any BSX Tokens acquired in violation of these Token Terms. Company specifically disclaims any losses in value or potential value experienced by any participant resulting from any such restrictions or actions identified hereunder.
(d).
At any time prior to User claiming the BSX Tokens via an Airdrop, Company may, in its sole discretion, deem User ineligible for an Airdrop without prior notice and without any liability or further obligation of any kind whatsoever to User or any other Person, in the event Company finds such measures reasonable and/or necessary in a particular situation, including, but not limited to, change of regulatory requirements, or upon suspicion or detection that User does not primarily reside or is not domiciled in a permitted jurisdiction, or is engaged in fraud or other unlawful activity.
2.4.
(a).
it has the sole responsibility and liability for all taxes in connection with its participation in transactions on a Blockchain, including participation in any Airdrop, and should consult a tax advisor.
(b).
it is solely responsible for complying with all applicable laws of the jurisdiction User is located in or participating in Blockchain transactions, including participation in any Airdrop.
(c).
it (a) may receive digital assets, including but not limited to BSX Tokens, for free via an Airdrop (other than applicable taxes, if any), (b) was not previously promised any such digital assets, and (c) took no action in anticipation of or in reliance on receiving any digital assets via an Airdrop.
(d).
User’s eligibility to receive assets pursuant to an Airdrop or to participate in an Airdrop is subject to Company’s sole discretion. To the extent User believes it should have received any airdropped assets based on any documentation or points system released by Company from time to time, such documentation does not entitle User to any assets or to participate in any Airdrop, and User has no claim for any such assets. User agrees that it is the legal owner of the Wallet that User utilizes to access or participate in an Airdrop.
(e).
it is not a Prohibited Person and that User will not use a VPN or other tool to circumvent any geoblock or other restrictions that Company may have implemented for Airdrop recipients. Any such circumvention, or attempted circumvention, may permanently disqualify User from participation in an Airdrop, in Company’s sole discretion.
(f).
to participate in an Airdrop, User will need to connect a compatible Wallet. By using a Wallet, User agrees that it is using the Wallet under the terms and conditions of the applicable third-party provider of such Wallet. Wallets are not associated with, maintained by, supported by or affiliated with Company. When User interacts with the Website, User retains control over its digital assets at all times. Company and its Affiliates bear and accept no responsibility or liability to User in connection with User’s use of a Wallet, and make no representations or warranties regarding how the Website will operate or be compatible with any specific Wallet. Company does not hold or maintain the private keys necessary to access a Wallet or the assets held in a Wallet, and has no ability to help User access or recover its private keys and/or seed phrases for User’s Wallet. User is solely responsible for maintaining the confidentiality of its private keys and is responsible for any transactions signed with User’s private keys.
(g).
if it is unable to claim an Airdrop due to technical bugs, Smart Contract issues, Gas Fees, Wallet incompatibility, loss of access to a Wallet or the keys thereto, or for any other reason, User will have no recourse or claim against Company or its Affiliates, and that Company and its Affiliates will not bear any liability to User.
(h).
claiming an Airdrop may require reliance on or an integration with third-party products (e.g., a Wallet or an unaffiliated network or Blockchain) that Company and its Affiliates do not control. In the event that User is unable to access such products or integrations, or if they fail for any reason, and User is unable to participate in an Airdrop or claim Airdrop assets, User will have no recourse or claim against Company or its Affiliates, and that Company and its Affiliates will not bear any liability to User.
(i).
the regulatory regime governing Blockchain technologies, cryptocurrencies, and other digital assets is uncertain, that new regulations or policies may materially adversely affect the potential utility or value of such cryptocurrencies and digital assets, and that there are risks of new taxation related to the purchase or sale of cryptocurrencies and other digital assets.
(j).
cryptocurrencies and other similar digital assets are neither (i) deposits of or guaranteed by a bank nor (ii) insured by the FDIC or by any other governmental agency.
2.5.
3.1.
ACQUIRING TOKENS INVOLVES A HIGH DEGREE OF RISK. USERS SHOULD CONSIDER CAREFULLY THE RISKS DESCRIBED HEREIN, TOGETHER WITH ALL OF THE OTHER INFORMATION CONTAINED IN THE GENERAL TERMS AND THESE TOKEN TERMS BEFORE MAKING A DECISION TO CLAIM AN AIRDROP. THE FOLLOWING RISKS ENTAIL CIRCUMSTANCES UNDER WHICH THE BUSINESS, FINANCIAL CONDITION, RESULTS OF OPERATIONS AND PROSPECTS OF COMPANY AND ITS AFFILIATES COULD SUFFER. THE FOLLOWING IS NOT AN EXHAUSTIVE LIST AND DOES NOT NECESSARILY REFLECT THE RELATIVE IMPORTANCE OF THE VARIOUS RISKS FACTORS.
3.2.
OTHERWISE THAN AS EXPRESSLY SET OUT HEREIN, COMPANY SPECIFICALLY DOES NOT REPRESENT AND WARRANT AND EXPRESSLY DISCLAIMS ANY REPRESENTATION OR WARRANTY WITH RESPECT TO THE WEBSITE, THE SERVICE, OR THE BSX TOKENS, EXPRESS, IMPLIED OR STATUTORY, INCLUDING WITHOUT LIMITATION, ANY REPRESENTATIONS OR WARRANTIES OF TITLE, NON-INFRINGEMENT, MERCHANTABILITY, USAGE, SUITABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE, OR AS TO THE WORKMANSHIP OR TECHNICAL CODING THEREOF, OR THE ABSENCE OF ANY DEFECTS THEREIN, WHETHER LATENT OR PATENT.
3.3.
The precise terms of the privileges and other benefits of the BSX Tokens will be determined by the BSX Foundation in its sole and absolute discretion from time to time. Such privileges and benefits may be amended thereafter by the BSX Foundation at any time and without notice to, or consent from, any holder of BSX Tokens, or Company, in its the sole and absolute discretion. Any such determination or amendment shall not be a breach of the terms of the BSX Tokens.
3.4.
While an Airdrop is available only to Users that are not Prohibited Persons there is the possibility that BSX Tokens could be acquired over time or following changes in the regulatory landscape by Persons in other jurisdictions currently restricted from acquiring BSX Tokens and, accordingly, the risk factors set out below may include certain risk factors specific to certain jurisdictions even though Company will not at present make the BSX Tokens available at this time to Persons from such jurisdictions.
3.5.
No promises of future performance or value are or will be made with respect to the BSX Tokens, including no promise of inherent value, no promise of continuing payments, and no guarantee that the BSX Tokens will hold any particular value.
3.6.
BY PARTICIPATING IN ANY AIRDROP, USER EXPRESSLY ACKNOWLEDGES AND ASSUMES ALL RISKS RELATED THERETO INCLUDING (WITHOUT LIMITATION) THE RISKS SET OUT BELOW.
(a)
Reliance on one or more Developers: Company may enter into one or more services agreements pursuant to which one or more software developers (each a “Developer”) will provide services with respect to Company’s development and distribution of the BSX Tokens. As consideration for each such Developer providing those services, Company may agree to grant the Developer with a significant number of BSX Tokens. In cases where such developer is an entity, Company may decide to grant BSX Tokens to the natural persons who work for such entity. Company believes that the provisions of each such agreement will reflect commercial arms-length dealings between Company and each such Developer.
Risk of Losing Access to Tokens Due to Wallet Incompatibility: User’s cryptocurrency wallet must possess technical infrastructure that is compatible with the receipt, storage and transfer of the BSX Tokens. Non-compatible Wallet addresses will not be accepted. In addition, User’s wallet address must not be associated with a third-party exchange or service that has custody over the private key. User must own the private key if User’s address is an exchange address. Company reserves the right to prescribe additional conditions relating to specific Wallet requirements at any time, acting in its sole discretion.
Risks Associated with the Blockchain Protocols: Any malfunction, breakdown, abandonment, unintended function, unexpected functioning of or attack on the protocol upon which the BSX Tokens are issued may have an adverse effect on the BSX Tokens, including causing them to malfunction or function in an unexpected or unintended manner.
Risks Associated with User’s Credentials: Any third party that gains access to or learns of User’s Wallet login credentials or private keys may be able to dispose of User’s Tokens. To minimize this risk, User should guard against unauthorized access to User’s electronic devices. Best practices dictate that User safely store private keys in one or more backup locations geographically separated from the working location. In addition, User is responsible for giving us the correct Wallet address to which to send User Tokens. If User provides the incorrect address to which to send User the BSX Tokens, Company and its Affiliates are not responsible for any loss or non-receipt of BSX Tokens that may occur.
Risk of Unfavorable Regulatory Action in One or More Jurisdictions:
Blockchain technologies and cryptographic tokens have been the subject of scrutiny by various regulatory bodies around the world. Blockchain technology allows new forms of interaction, and it is possible that certain jurisdictions will apply existing regulations on, or introduce new regulations addressing, Blockchain technology based applications, which regulations may be contrary to the current setup of the Website or its Smart Contract system and, therefore, may result in substantial modifications to the Website and such Smart Contract systems, including its termination and the loss of BSX Tokens.
The regulatory status of cryptographic tokens and distributed ledger technology is unclear or unsettled in many jurisdictions. It is difficult to predict how or whether regulatory authorities may apply existing regulation with respect to such technology and its applications, including specifically (but without limitation to) the Website and the BSX Tokens. It is likewise difficult to predict how or whether any legislative or regulatory authorities may implement changes to law and regulation affecting distributed ledger technology and its applications, including specifically (but without limitation to) the Platform and the BSX Tokens. Regulatory actions could negatively impact the Website and the BSX Tokens in various ways, including, for purposes of illustration only, through a determination that the BSX Tokens are a regulated financial instrument that requires registration, licensing, or restriction. Company may cease operations in a jurisdiction if regulatory actions, or changes to law or regulation, make it illegal to operate in such jurisdiction, or commercially undesirable to obtain the necessary regulatory approval(s) to operate in such jurisdiction. The functioning of the Website and the BSX Tokens could be impacted by any regulatory inquiries or actions, including restrictions on the use, sale or possession of digital tokens like the BSX Tokens, which restrictions could impede, limit or end the development of the Platform and increase legal costs.
(f)
Risk of Alternative, Unofficial Platforms: Following the distribution of the BSX Tokens and the continued development of the platform, whose front end is located at app.bsx.exchange (the “Platform”), it is possible that alternative applications or platforms could be established, which use the same or similar open-source code and protocol underlying the Platform. The BSX Tokens may have no intrinsic value with respect to such alternative applications. The Platform may compete with these alternative, unofficial token-based applications, which could potentially negatively impact the Platform and the BSX Tokens.
(g)
Operating History: Company has limited operating history and will be operating in an evolving industry that may not develop as expected.
(h)
Risk that the BSX Ecosystem Will Not Meet Expectations: The BSX Ecosystem is presently under continued development and may undergo significant changes. Any expectations or assumptions regarding the form and functionality of the BSX Tokens (including participant behaviour) held by Company or User may not be met, for any number of reasons, including, without limitation, mistaken assumptions or analysis or a change in the design and implementation of plans. Moreover, Company may not be able to retain full and effective control over how other participants will use the BSX Tokens or how third-party products and services will utilize BSX Tokens (if at all). This could create the risk that the BSX Tokens and/or the BSX Ecosystem, as further developed and maintained, may not meet User’s expectations.
(i)
The value of the BSX Tokens will be affected by the success of the Platform: Because the BSX Tokens are intended for use on the Platform a failure by the owner of the Platform to successfully develop and/or maintain the Platform would negatively affect the value of the BSX Tokens. There is no guarantee that the Platform will develop as planned or become successful in the marketplace.
(j)
Long-term viability of cryptocurrency assets: Cryptocurrency assets, including those like the BSX Tokens, are a new and relatively untested product. There is considerable uncertainty about their long-term viability, which could be affected by a variety of factors, including many market-based factors such as economic growth, inflation, and others. In addition, the success of cryptocurrency assets (including the BSX Tokens) will depend on the long-term utility and economic viability of blockchain and other new technologies related to cryptocurrency assets. Due in part to these uncertainties, the price of cryptocurrency assets are volatile and the BSX Tokens may be hard to sell. Company does not control any of these factors, and therefore may not be able to control the ability of the BSX Tokens to maintain their value over time.
(k)
Further innovations in the cryptocurrency asset industry may cause the BSX Tokens to lose value: The development and acceptance of the cryptographic and algorithmic protocols governing the issuance of, and transactions in, cryptocurrency assets is subject to a variety of factors that are difficult to evaluate and predict. The use of cryptocurrency assets to, among other things, buy and sell goods and services is part of a new and rapidly evolving commercial practice that employs digital assets based on a computer-generated mathematical and/or cryptographic protocol. The growth of this commercial practice in general, and the use of cryptocurrency assets in particular, is subject to a high degree of uncertainty. Factors affecting further development of the cryptocurrency asset industry include, among other things, the continued worldwide adoption of cryptocurrency assets; governmental and quasi-governmental regulation of cryptocurrency assets and/or cryptocurrency asset exchanges; changing consumer demographics, tastes and preferences; sustained development and maintenance of open-source software protocols; the popularity and availability of alternative and/or new payment services; and general economic conditions. If these factors negatively affect or impede the development of the cryptocurrency asset industry, the value of User’s BSX Tokens may also be negatively affected.
(l)
Inability to Fund Development or Maintenance: Company may not be able to fund development of the BSX Tokens while the owner of the Platform may not be able to develop or maintain the Platform in the manner that it was intended.
(m)
Risks from Taxation: The tax characterization of the BSX Tokens is uncertain. User must seek its own tax advice in connection with acquiring and holding BSX Tokens, which may result in adverse tax consequences to User, including withholding taxes, income taxes, and tax reporting requirements. Claiming the BSX Tokens through an Airdrop may result in adverse tax consequences, including withholding taxes, income taxes, and tax reporting requirements. Additionally, subsequent transactions in cryptocurrency assets such as the BSX Tokens may cause investors to incur tax liabilities. Further, any reward received in the form of, or through the use of, Tokens may result in additional tax liability. Each investor should consult with and must rely upon the advice of its own professional tax advisors.
(n)
Risk of Theft and Hacking:
(i)
Smart Contracts, software applications, and/or the Website may be exposed to attacks by hackers or other individuals, groups, organizations or countries that interfere with the Website or the availability of the BSX Tokens in any number of ways, including denial of service attacks, Sybil attacks, spoofing, smurfing, malware attacks, or consensus-based attacks, or phishing, or other novel methods that may or may not be known. Any such successful attacks could result in theft or loss of BSX Tokens. User must take appropriate steps to satisfy itself of the integrity and veracity of relevant websites, systems, and communications.
(ii)
User acknowledges, understands and accepts that if User’s private key or password is lost or stolen, the BSX Tokens associated with User’s Wallet address may be unrecoverable and permanently lost. Additionally, any third party that gains access to User’s private key, including by gaining access to the login credentials relating to User’s Wallet, may be able to misappropriate User’s BSX Tokens. Any errors or malfunctions caused by or otherwise related to the Wallet or vault User chooses to receive and store BSX Tokens, including User’s own failure to properly maintain or use such Wallet or vault, may also result in the loss of User’s BSX Tokens, for which Company will have no liability.
(o)
Risk of Security Weaknesses in the Platform: The Platform consists, at least in part, of open-source software that may be based on other open source software. There is a risk that Company or other third parties may intentionally or unintentionally introduce weaknesses or bugs into the core infrastructural elements of the Platform interfering with the use of or causing the loss of BSX Tokens.
(p)
Risk of Weaknesses or Exploitable Breakthroughs in the Field of Cryptography: Advances in cryptography, or technical advances such as the development of quantum computing, could present risks to cryptocurrencies and the Platform by rendering ineffective the cryptographic consensus mechanism that underpins the Platform protocol, which could result in the theft, loss, or decreased utility of the BSX Tokens. Smart Contracts, Blockchain application software and Blockchain platforms and protocols are still in an early development stage and relatively unproven. There is no warranty or assurance that the process for creating Tokens will be uninterrupted or error-free and there is an inherent risk that the software could contain defects, weaknesses, vulnerabilities, viruses, or bugs causing, inter alia, the complete loss of contributions and/or BSX Tokens.
(q)
Risk of an Illiquid Market for Tokens: There may never be any marketplace for BSX Tokens. There are currently no exchanges upon which the BSX Tokens would trade. They may, therefore, be more exposed to fraud and failure than established, regulated exchanges for other products and have a negative impact on the BSX Tokens. To the extent that any third party ascribes an external exchange value to the BSX Tokens (e.g. as denominated in a crypto or fiat currency), such value may be extremely volatile and diminish to zero. If (despite User’s representations to Company to the contrary) User is holding BSX Tokens as a form of investment on a speculative basis or otherwise, or for a financial purpose, with the expectation or desire that their inherent, intrinsic or cash-equivalent value may increase with time, User assumes all risks associated with such speculation or actions, and any errors associated therewith, and accepts that the BSX Tokens are not offered by Company or its Affiliates on an investment basis.
(r)
Risk of Dissolution of the BSX Ecosystem: It is possible that, due to any number of reasons, including development issues with the BSX Tokens or the Platform, the failure of business relationships, lack of public interest, lack of funding, or competing intellectual property claims, the BSX Ecosystem may no longer be viable as a business or otherwise and may dissolve or fail to maintain commercial or legal viability, or be abandoned. There is no assurance that User will receive any benefits through the BSX Tokens.
(s)
Risk of Malfunction in the Website and/or Smart Contracts: It is possible that Company’s Smart Contracts and/or the Website malfunctions in an unfavourable way, including one that results in the loss of the BSX Tokens.
(t)
Risk Arising from Lack of Governance Rights: Because the BSX Tokens confer only limited governance rights; all decisions involving Company (including to sell or liquidate Company) will be made by Company acting in its sole and absolute discretion, and substantially all decisions involving the Platform including, but not limited to, decisions by the Platform’ owner to discontinue the Platform, will be made by the Platform owner acting in its sole and absolute discretion. These decisions could adversely affect the BSX Tokens User holds.
(u)
Risks Associated with Incomplete Information: User will not have full access to all the information relevant to Company and/or the BSX Tokens. User is responsible for making its own decision in respect of claiming any BSX Tokens through an Airdrop. Company does not provide User with any recommendation or advice in respect of the acquisition of the BSX Tokens. User may not rely on Company to provide User with complete or up to date information.
(v)
Additional Risks:
(i)
The holders of BSX Tokens will not be in any fiduciary, partnership, trustee, agency, or similar relationship with Company or any of its Affiliates and will not be owed any fiduciary duty by Company or any of its Affiliates. The holders of BSX Tokens have no direct management, equity, voting or similar rights in Company or any of its Affiliates. However, without limitation to the above, Company reserves all rights with respect to pursuing any form of decentralized governance should it so determine that doing so would be in the best interests of the holders of BSX Tokens from time to time.
(ii)
Regulation of (A) tokens (including the BSX Tokens); (B) cryptocurrencies (C) Blockchain technologies; and (D) cryptocurrency exchanges is currently underdeveloped and is likely to evolve rapidly, vary significantly among international, national, federal, state, and local jurisdictions and is subject to significant uncertainty. Various legislative and executive bodies in the United States, South Korea, China, Singapore, among other countries, are currently considering, or may in the future consider, laws, regulations, guidance, or other actions, which may severely impact the development and growth of the BSX Ecosystem. Other countries may adopt similar approaches. Failure by Company or Users to comply with any laws, rules, and regulations, some of which may not exist yet or are subject to interpretation and may be subject to change, could result in a variety of adverse consequences, including civil penalties and fines. New or changing laws and regulations or interpretations of existing laws and regulations would likely have numerous material adverse consequences on Company and the BSX Tokens. Therefore, there can be no assurance that any new or continuing regulatory scrutiny or initiatives will not have a material adverse impact on the value of the BSX Tokens or impede the activities of Company.
(w)
Company has the exclusive right, in its sole and absolute discretion, to address and remediate any of the operational, legal, or regulatory risks presented as of the date hereof or hereafter. In the exercise of such rights, it is possible that Company and/or its Affiliates may determine that the continued development of the BSX Ecosystem is not feasible. Accordingly, there is a material risk that Company and its Affiliates may not successfully continue to develop, market, and operate the BSX Ecosystem or the BSX Tokens.
3.7
Conflict. In case of a conflict between the General Terms and these Token Terms, the provisions of these Token Terms will control.
BSX Labs Limited, a British Virgin Islands company (“Company”) is committed to protecting User’s privacy. Company has prepared this Privacy Policy (this “Policy”) to describe to User Company’s practices regarding the Personal Information (as defined below) Company collects, why Company collects it, and how Company uses and discloses it. This Policy should be read in conjunction with Company’s Terms of Use (the “Terms”), into which this Policy is incorporated by reference. User is encouraged to read the Terms first, as certain terms used in this Policy are defined in the Terms.
ACCEPTANCE OF THE POLICY
User’s privacy matters to Company, so User should take the time to get to know Company’s policies and practices. Please understand that Company reserves the right to change any of Company’s policies and practices at any time, but User can always find the latest version of this Policy here on this page. User’s continued use of the Service after Company makes changes is deemed to be acceptance of those changes, so please check this Policy periodically for updates.
This Policy describes the types of information Company collects from User or that User may provide when User uses the Service and Company’s practices for collecting, using, maintaining, protecting, and disclosing that information.
Please read this Policy carefully to understand Company’s practices regarding User’s information and how Company will treat it. If User does not agree with Company’s policies and practices, then please do not use the Service. By using the Service, User agrees to the terms of this Policy.
PERSONAL INFORMATION COMPANY COLLECTS
As used herein, “Personal Information” means information that identifies or is reasonably capable of identifying an individual, directly or indirectly, and information that is capable of being associated with an identified or reasonably identifiable individual.
2.1.
(a).
Online identifier information, such as IP addresses, Wallet addresses and other data connected to User’s Wallets, domain names, and similar identifying names or addresses (collectively, “Online Identifier Information”);
(b).
Device information, such as hardware, software, operating system, browser, device name, and language preferences (collectively, “Device Information”);
(c).
Usage data, such as system activity, internal and external information related to the Service, clickstream information (collectively, “Usage Data”); and
(d).
Geolocation data, such as information about User’s device location (“Geolocation Data”).
Automatic collection of Personal Information may involve the use of Cookies, described in greater detail below. Company does not currently store Online Identifier Information, Device Information, Usage Data, or Geolocation Data on Company’s systems; however, please be aware that third-parties with which Company might interact might store such information.
2.2.
(a).
Online Identifier Information; and
(b).
Additional information, at Company’s discretion, to comply with legal obligations.
2.3.
(a).
Online Identifier Information; and,
(b).
Additional information, at Company’s discretion, to comply with legal obligations.
2.4.
4.1.
Provide User with the Service. Company uses User’s Personal Information to provide User with the Service pursuant to the Terms.
4.2.
Comply with Legal and Regulatory Requirements. Company processes User’s Personal Information as required by applicable laws and regulations.
4.3.
Detect and Prevent Fraud. Company processes User’s Personal Information to detect and prevent fraud.
4.4.
Protect the Security and Integrity of the Service. Company uses User’s Personal Information to maintain the security of User’s Wallet and the Service itself.
4.5.
Other Business Purposes. Company may use User’s Personal Information for additional purposes if disclosed to User before Company collects User’s Personal Information or if Company obtains User’s consent.
5.1.
Third-Party Service Providers. Company may share User’s Personal Information with third-party service providers for business or commercial purposes, including fraud detection and prevention, security threat detection, customer support, data analytics, information technology, advertising and marketing, network infrastructure, storage, and transaction monitoring. Company shares User’s Personal Information with these service providers only so that they can provide Company with their services, and Company prohibits its service providers from using or disclosing User’s Personal Information for any other purpose.
5.2.
Law Enforcement. Company may be compelled to share User’s Personal Information with law enforcement, government officials, and/or regulators.
5.3.
Corporate Transactions. Company may disclose Personal Information in the event of a proposed or consummated merger, acquisition, reorganization, asset sale, or similar corporate transaction, or in the event of a bankruptcy or dissolution.
5.4.
Professional Advisors. Company may share User’s Personal Information with Company’s professional advisors, including legal, accounting, or other consulting services for purposes of audits or to comply with Company’s legal obligations.
5.5,
Consent. Company may share User’s Personal Information with User’s consent.
8.1.
Lawful Bases for Processing. Company processes personal data subject to GDPR on one or more of the following legal bases:
(a)
Legal Obligations: to conduct anti-fraud and to fulfill Company’s retention and other legal obligations;
(b)
Contractual Obligations: to satisfy Company’s obligations to User under the Terms, including to provide User with the Service and customer support services, and to optimize and enhance the Service;
(c)
Legitimate Interest: to monitor the usage of the Service, conduct automated and manual security checks of the Service, to protect Company’s rights; and
(d)
Consent: to market Company and the Service. User may withdraw User’s consent at any time without affecting the lawfulness of processing based on consent before consent is withdrawn.
8.2.
European Privacy Rights. European residents have the following rights under GDPR, subject to certain exceptions provided under the law, with respect to their personal data:
(a)
Rights to Access and Rectification: User may submit a request that Company disclose the personal data that Company processes about User and correct any inaccurate personal data.
(b)
Right to Erasure: User may submit a request that Company delete the personal data that Company has about User.
(c)
Right to Restriction of Processing: User has the right to restrict or object to Company’s processing of User’s personal data under certain circumstances.
(d)
9.1.
Contractual Obligation. Where transfers are necessary to satisfy Company’s obligation to User under the Terms, including to provide User with the Service and customer support services, and to optimize and enhance the Service; and
9.2.
Consent. Where User has consented to the transfer of User’s personal data to another country.
10.1.
Personal Information. By virtue of using the Service, Company and its Affiliates may collect, record, store, transfer, and otherwise process Personal Information by which individuals may be directly or indirectly identified. Company and its Affiliates may combine Personal Information that User provides with Personal Information that Company and its Affiliates collect from User. This may include Personal Information that the Company collects when User uses the Services, such as User’s Wallet information.
10.2.
Why is User’s Personal Information Processed. The storage, processing, and use of Personal Information by Company or its Affiliates will take place for lawful purposes, including:
(a)
to comply with any applicable legal, tax, or regulatory obligations on Company or its Affiliates under any applicable laws and regulations;
(b)
to perform a contract to which User is a party or for taking pre-contractual steps at User’s request;
(c)
to operate Company, including managing and administering the BSX Tokens, Airdrops, and Company’s and its Affiliates’ businesses on an on-going basis which enables Company and User to satisfy their contractual duties and obligations to each other;
(d)
to verify the identity of Company and its Affiliates to third parties for any purpose which Company and its Affiliates may consider necessary or desirable;
(e)
to assist Company and its Affiliates in the improvement and optimisation of advertising its Services, including through marketing material and content;
(f)
for risk management and risk control purposes relating to Company and its Affiliates;
(g)
to pursue Company’s and its Affiliates’ legitimate interests: (i) for direct marketing purposes; or (ii) to help detect, prevent, investigate, and prosecute fraud and/or other criminal activity, and share this data with legal, compliance, risk, and managerial staff to assess suspicious activities; and/or
(h)
where User otherwise consents to the processing of its Personal Information for any other specific purpose.
10.3.
Data Controller. As a data controller, the Company or its Affiliates will only use User’s Personal Information for the purposes for which it was collected as set out in this Privacy Policy. If Company or its Affiliates need to use User’s Personal Information for an unrelated purpose, Company will contact User. In certain circumstances, Company may share User’s Personal Information with regulatory, prosecuting, and other governmental agencies or departments, and parties to litigation (whether pending or threatened), in any country or territory.
10.4.
Transfer of Personal Information Outside the British Virgin Islands. Company may transfer User’s Personal Information outside of the British Virgin Islands, as permitted under applicable law. Neither Company nor its Affiliates will sell User’s Personal Information.
10.5.
User’s Rights. User may have certain rights under applicable law, including:
(a)
the right to be informed as to how Company and its Affiliates collect and use User’s Personal Information;
(b)
the right to access User’s Personal Information;
(c)
the right to require Company and its Affiliates to stop direct marketing;
(d)
the right to have inaccurate or incomplete Personal Information corrected;
(e)
the right to withdraw User’s consent and require Company and its Affiliates to stop processing or restrict the processing, or not begin the processing, of User’s Personal Information;
(f)
the right to be notified of a data breach (unless the breach is unlikely to be prejudicial); and
(g)
the right to require Company and its Affiliates to delete User’s Personal Information in some limited circumstances.
Please note that if User does not wish to provide Company or its Affiliates with requested Personal Information or subsequently wishes to withdraw User’s consent, User may not be able to receive BSX Tokens or participate in an Airdrop as it will affect Company’s ability to provide its Services to User.
10.6.
Retention of Personal Information. The Personal Information shall not be held by Company or its Affiliates for longer than necessary with regard to the purposes of the data processing.