Terms of Use

As of October 2024
  1. 1. Introduction
  2. These Terms of Use (the “Terms”) constitute an agreement between you and the Company and outlines the underlying contractual relationship. Please read the Terms carefully. The Company reserves the right to amend the Terms at any time by posting the revised Terms. Unless otherwise stated in the Terms, the revised Terms shall be effective as indicated by the “Last revised” date indicated at the beginning of the Terms. Users are responsible for keeping themselves informed of the current Terms.

    By accessing this website and its subdomains and pages (the “Website”) and accessing or utilizing the services made available on this Website and other software and apps of the Company, including the goods and services for which the utility token $SOVRN can be utilized or exchanged for (collectively, the “Services”), you acknowledge that you have read, understood, and agree to be bound by these Terms and the Privacy Policy. Your continued use of the Website and the Services will be regarded as acceptance and acknowledgement of any amendments or modifications made to the Terms from time to time, whether or not reviewed by you.

    If you do not accept and agree to any of the Terms, you should not use the Website or any of the Services

    References to “us”, “we”, “our” and the “Company” shall refer to Sovrun and its legal entity and core team and all their successors, assigns, agents and representatives. References to “you” and “User(s)” refers to users of the Website and the Services.
  3. 2. Use of the Website and the Services
  4. User representations and warranties. By using the Website and the Services, you represent and warrant that:
  5. you are at least 18 years of age and are of sound mind;
  6. in making any transaction on the Website or using the Services, you possess the legal authority to create a binding legal obligation;
  7. you will use the Website in accordance with these Terms and all applicable laws and regulations;
  8. you will only use the Website for lawful purposes;
  9. you will not carry out fraudulent activity using the Website and/or the Services;
  10. you will not impair the Services, the Website and the network and software on which it runs in any way;
  11. you accept the Terms and the Privacy Policy wholly and unconditionally;
  12. if and when applicable, you will satisfy all your obligations, tax, withholding or otherwise as required by your country of residence;
  13. you are not a person located, organised or resident in a country or territory that is subject of sanctions administered or enforced by Singapore, the United States of America, the European Union or any other governmental authority;
  14. in relation to information supplied by you on the Website or to use the Services: (1) such information is true, accurate, current and complete; (2) it is your responsibility to update your information in a timely way when there are any changes; (3) the Company and its affiliates may rely on such information provided by you as being true, accurate, current and complete; and (4) we have the right to terminate your account if any of the information supplied by you fails to be true, accurate, current and complete; and
  15. you are not an undischarged bankrupt in any country.
  16. You further agree not to use the Website, the Services, its respective contents or information for any commercial or non-personal purpose (direct or indirect) or for any purpose that is illegal, unlawful or prohibited by the Terms.

    Secure Access. You are responsible for implementing reasonable measures to secure access to (i) any device connected with your use of the Website and/or the Services; and (ii) your login or identifying credentials necessary to access the Services.

    Revocation of Use. We reserve the right at our sole discretion to deny anyone access to the Website and the Services at any time without notice, and for any reason, including but not limited to, violation of these Terms.
  17. 3. Prohibited Transactions and Activities
  18. The content and information on the Website as well as the infrastructure used to provide such content and information, is proprietary to us. You agree not to modify, copy, distribute, transmit, display, perform, reproduce, publish, license, create derivative works from, transfer, sell or re-sell any information, software, products or services obtained from or through the Website (including the Services).

    If we suspect that you have breached the Terms or that your use of the Website and/or the Services shows signs of fraud, abuse or suspicious activity, we may cancel any transactions associated with you, and we may restrict or terminate your use of the Website and the Services. If you have conducted any fraudulent activity, we reserve the right to take any necessary legal action and you may be liable for losses to us, including litigation costs and damages.

    The Company reserves the right to prohibit you from using the Website or the Services should you be found doing so by unauthorised means or for purposes other than which the Services or the Website is intended to be used. You will bear all liability for any loss or damage, whether suffered by the Company or any third party, resulting from your breach of any of the provisions of these Terms.

    In connection with your use of the Website, the Services or in the course of your interaction with us, other Users or third parties, you undertake not to:
  19. breach these Terms;
  20. breach or attempt to breach any applicable laws and regulations;
  21. provide false, inaccurate or misleading information;
  22. use deceptive business practices including but not limited to Ponzi / pyramid schemes, multi-level marketing, guaranteed results, investment or trading courses and services;
  23. engage in transactions that are potentially fraudulent, suspicious or illegal;
  24. use services, devices or software used to circumvent the law or remove copyright protections;
  25. infringe or violate any copyright, trademark, right of publicity or privacy or any other proprietary right under the laws of any jurisdiction, including digital or virtual goods or assets; or
  26. aid or abet any of the above.
  27. Additionally, you represent and warrant not to:
  28. use the Website and/or the Services for any non-authorised commercial purpose;
  29. access, monitor or copy any content or information on the Website using any robot, spider, scraper or other automated means or any manual process for any purpose without our express prior written permission;
  30. violate the restrictions in any robot exclusion headers on the Website or bypass or circumvent other measures employed to prevent or limit access to the Website;
  31. take any action that imposes, or may impose, in our discretion, an unreasonable or disproportionately large load on the Website’s infrastructure;
  32. deep-link to any portion of the Website for any purpose without our express prior written permission;
  33. re-sell, use, copy, monitor, display, download or reproduce any content or information, software, products or services available on the Website for any commercial or competitive activity or purpose;
  34. "frame", "mirror" or otherwise incorporate any part of the Website into any other applications without our prior written authorisation;
  35. impersonate another person or entity or falsely state or otherwise misrepresent your affiliation with a person or entity, or adopt a false identity if the purpose of doing so is to mislead, deceive, or defraud another;
  36. manipulate identifiers, including by forging headers, in order to disguise the origin of any posting that you deliver;
  37. use the Website in any manner which could damage, disable, overburden, impair or otherwise interfere with the use of the Website or other users' browser or equipment, or cause damage, disruption or limit the functioning of any software, hardware or telecommunications equipment;
  38. attempt to gain unauthorised access to the Website, other accounts, computer systems, or networks connected to the Website, through hacking, password mining or any other means;
  39. obtain or attempt to obtain any materials or information through any means not intentionally made available through the Website, including harvesting or otherwise collecting information about others such as email addresses;
  40. do anything else which could cause damage to or would otherwise have a negative impact on the Company and its affiliates, their reputation, directors, advisors, consultants, representatives and/or employees; or
  41. aid or abet any of the above.
  42. 4. Marketing / Promotions
  43. From time to time, the Company may run promotions, contests, surveys, privileges and other programmes with affiliates, partners, merchants and agents (collectively, “Marketing Partners”), subject to such Marketing Partners’ additional terms and conditions, which can be found on their respective websites and are hereby incorporated by reference into these Terms.
  44. 5. Privacy Policy
  45. Our Privacy Policy, which also governs your use of the Website and is incorporated by reference into these Terms, can be found at Privacy Policy.
  46. 6. Intellectual Property
  47. The Company does not grant you any rights or licenses with respect to the Website; any rights or licenses not expressly granted herein are reserved.

    The Website (including all its components, processes and design in its entirety), contains copyright material, trade names and other proprietary information, including but not limited to text, software, photos and graphics. The Company owns or is the licensee of all intellectual property rights on the Website. The Company, its affiliates and/or its licensors own copyright and/or database rights in the original content as well as such content as otherwise amended or enhanced from time to time.

    You may not modify, publish, transmit, participate in the transfer or sale of, create derivative works or in any way exploit any of the content, in whole or in part, on the Website, except as provided in the Terms. You may use information from the Website for your own personal use only. Except as otherwise expressly permitted under copyright law, no copying, redistribution, retransmission, publication or commercial exploitation of material on the Website will be permitted without our express permission and that of the copyright owner’s.

    Unless stated otherwise, the software required for the Services and the Website and the intellectual property rights (including the trademarks, service marks, logos, designs, copyrights, etc.) in the contents and information and material on the Website are owned by the Company, its affiliates and/or or licensors. We do not assume any liability for copyrighted materials provided by third parties or any intellectual property right infringements by such third parties.
  48. 7. Links to Third Party Websites and Apps
  49. We may provide hypertext links to other apps or websites. Using such a link, you acknowledge leaving the Website and proceeding at your own responsibility.
  50. 8. Other Terms
  51. 8.1 GOVERNING LAW. The Terms and the relationship between the Company and you in respect of our Services shall be governed by, and construed in accordance with, the laws of Singapore.

    8.2 DISPUTE RESOLUTION
    (a) Any dispute, controversy or claim related to these Terms or the Privacy Policy (including non-contractual disputes or claims) (the “Dispute”) shall be resolved in accordance with the procedure in this paragraph 8.2.
    (b) The party raising any Dispute shall first serve written notice of the Dispute to the other Party (“Dispute Notice”). Within 14 days of the service of a Dispute Notice, one (1) authorised representative of each party shall seek to resolve the Dispute through good faith negotiations. If the Dispute has not been resolved within 30 days of service of the Dispute Notice, either Party shall be entitled to refer the Dispute to arbitration in accordance with the remaining provisions of paragraph 8.2. The Dispute Notice must include the following information:
  52. the full name of the party issuing the Notice;
  53. a description of the nature and basis of the Dispute;
  54. the specific relief sought by the party; and
  55. contact information (including the email address, postal address and telephone number) of the party issuing the Notice
  56. (c) Any Dispute which is not resolved in accordance with paragraph 8.2(b) above shall be referred to and finally resolved by arbitration administered by the Singapore International Arbitration Centre (“SIAC”) in accordance with the Arbitration Rules of the SIAC for the time being in force, which rules are deemed to be incorporated by reference to this clause. In any arbitration commenced pursuant to this clause, the tribunal shall consist of one (1) arbitrator to be appointed by the President of the Court of Arbitration of the SIAC. The language of the arbitration shall be English, and the seat of the arbitration shall be Singapore. Except as otherwise provided in the Arbitration Rules of the SIAC, any decision of the arbitrator in any matter within this paragraph 8.2 will be final, binding and incontestable and may be used as a basis for enforcement thereon in Singapore or elsewhere. The arbitrator will be entitled to include in its decision a determination as to the payment of the costs and expenses of the arbitrator, the administrative costs of the arbitrator, the legal fees incurred by the Parties, the costs and expenses of witnesses and all other costs and expenses necessarily incurred in the opinion of the arbitrator in order to properly settle the Dispute.

    Our address for any Dispute Notice is by email to legal@sovrun.org.

    8.3 ENTIRE AGREEMENT. These Terms constitute the entire agreement between you and the Company. We may amend the Terms at any time by posting a variation on the Website. The latest version of the Terms will supersede all previous versions as well as any other agreements or understandings (oral or written) between you and the Company.

    8.4 SEVERANCE. If any provision of the Terms or part thereof is rendered void, illegal or unenforceable by any legislation to which it is subject, it shall be rendered void, illegal or unenforceable only to that extent and shall in no way affect or prejudice the enforceability of the remainder of such provision or the other provisions of the Terms.

    8.5 ASSIGNMENT AND THIRD PARTY RIGHTS. You may not assign, convey, transfer or delegate your rights, duties or obligations hereunder and you acknowledge that we may assign, convey, transfer or delegate its rights, duties or obligations hereunder without your consent. Other than you, the Company and the Relevant Persons (in respect of paragraph 8.8 and 8.9), no other person has any rights to enforce any provision of these Terms.

    8.6 WAIVER. Our delay or failure to exercise or enforce any right or provision of these Terms shall not constitute a waiver of such right or provision.

    8.7 NO REPRESENTATIONS AND WARRANTIES. All content and the Services available on the Website are provided to you on an “as is where is” basis, and we make no representations or warranties of any kind (whether express or implied). We, our shareholders, subsidiaries, affiliates, officers, directors, agents, representatives, advisors and employees, disclaim all representations, conditions and warranties (whether express or implied), including but not limited to implied warranties of title, merchantability, fitness for any purpose, informational content, title or non-infringement of rights of third parties.

    We do not represent, warrant or guarantee that the Website and/or Services will operate error-free or uninterrupted, that defects will be corrected, or that the Website and/or its servers will be free of viruses and/or other harmful components. The Website and/or Services may be temporarily suspended for maintenance or upgrades, or interrupted or interfered with by multiple factors outside of our control.

    You further acknowledge that we are not responsible for information disclosed on the Website that is provided by you and/or third-party service providers (“Third-Party Information”). We will not verify whether, and cannot guarantee that, all Third-Party Information is accurate, complete, correct or up to date, nor can we be held responsible for any errors (including manifest and typographical errors) or sudden changes in market conditions which may make any Third-Party Information displayed on the Website outdated, inaccurate, misleading or untrue.

    8.8 LIMITATION OF LIABILITY. In no event shall the Company, its shareholders, subsidiaries, affiliates, officers, directors, employees, agents, representatives or distributors (together, the “Relevant Persons”) be liable to any person or entity for any loss of revenue, profit, losses, damages or expenses of any kind whatsoever arising in connection with the use of the Services or the Website, regardless of whether (1) such loss, damage or expense is caused by negligence or otherwise, and (2) any Relevant Person has any control or influence over the circumstances giving rise to the claim.

    For the avoidance of doubt the Relevant Persons shall not be responsible for:

    (a) any failures caused by server errors, misdirected or redirected transmissions, failed internet connections, interruptions in the transmission or receipt of purchases or any mobile phone virus or other technical defect, whether human or technical in nature;
    (b) any loss, damage or expense resulting from the ceasing or change in the Website and/or the Services; and
    (c) any inability on your part to possess a compatible device or to download the correct software on the device with which you access the website or use the Services.

    Nothing in these terms limit or exclude our liability for (a) death or personal injury caused by our negligence; (b) fraud or fraudulent misrepresentation; (c) any other matter in respect of which we are not permitted to exclude or limit our liability under applicable law.

    Notwithstanding anything in this Agreement to the contrary (but subject always to the preceding paragraph), the liability of the Company in respect of all claims by any User pursuant to or in connection with the Website and/or the Services shall not in any event exceed USD1,000. Further, the Company shall not be liable in any way or in any event in respect of any claim if such claim was not made within 6 months from the date of the cause of action arose.

    8.9 INDEMNITY. You agree to defend, indemnify and hold harmless the Relevant Persons from and against any and all claims, liabilities, damages or losses (including legal fees and expenses) that the Relevant Persons incurs or suffers as a result of your (a) use of the Website and/or the Services, (b) your breach of the Terms, and (c) your breach of any laws, regulations or third-party rights.
  57. 9. LIST OF PROHIBITED COUNTRIES
  58. $SOVRN is an ERC-20 token that functions as a utility token and anchor for the Sovrun project. Please note, however, that the offer, sale and/or purchase of $SOVRN are prohibited (or restricted, as applicable) in the following countries and jurisdictions:
  59. Afghanistan
  60. Anguilla
  61. Antigua and Barbuda
  62. Belarus
  63. Belize
  64. Burundi
  65. Central African Republic
  66. Cuba
  67. Democratic Republic of Congo
  68. Ethiopia
  69. Fiji
  70. Guam
  71. Guinea
  72. Guinea-Bissau
  73. Haiti
  74. Hong Kong
  75. Iran
  76. Iraq
  77. Lebanon
  78. Libya
  79. Mali
  80. Moldova
  81. Myanmar
  82. Nicaragua
  83. North Korea
  84. Palau
  85. Panama
  86. Philippines
  87. Russia
  88. Samoa
  89. Seychelles
  90. Somalia
  91. South Sudan
  92. Sudan
  93. Syria
  94. Bahamas
  95. Trinidad and Tobago
  96. Turks and Caicos Islands
  97. United States of America
  98. US Virgin Islands
  99. United Kingdom
  100. Ukraine
  101. Vanuatu
  102. Venezuela
  103. Yemen
  104. Zimbabwe
  105. The list above is not exhaustive and shall be deemed to include all other countries and jurisdictions where the offer, sale and/or purchase of digital assets or blockchain tokens are prohibited or restricted under applicable laws, rules and regulations. If your country falls under the said category, has similar circumstances, or is found in the list above, you are prohibited from offering, selling, purchasing, and/or otherwise transacting with $SOVRN and nothing in this website or page shall constitute an offer or sale of $SOVRN to you.
  106. 10. RISK DISCLOSURE STATEMENT
  107. As a purchaser, holder, owner or user of $SOVRN (a “Holder”), you hereby acknowledge, understand and assume the risks pertaining to the $SOVRN and the Services which are substantial and very high. Thus, please carefully read the following disclaimers and disclosures below (the “Risk Disclosure Statement”). This Risk Disclosure Statement provides you with information about the major risks associated with the purchase, sale or use of $SOVRN.

    The information presented in this Risk Disclosure Statement is not comprehensive and does not reflect all of the risks (or other important factors) you should consider before the purchase, sale or use of $SOVRN. You must make your own independent decision to access, purchase, sale or use of $SOVRN and should seek any advice that you consider necessary or desirable (including financial and/or legal advice) from independent advisers. Your capital is at risk. You acknowledge and agree that you shall access and use the services provided at your own risk. The terms not otherwise defined in this Risk Disclosure Statement shall bear the same meanings attributed to them in these Terms.

    As a precondition for the purchase, ownership and use of $SOVRN, a Holder shall assume all the associated risks below and represent and warrant that:
  108. The Holder has the knowledge, experience, understanding, professional advice and information to make its own evaluation of the merits, risks and applicable compliance requirements under applicable law pertaining to $SOVRN and/or the Services. The Holder understand the purchase of $SOVRN is incredibly risky and may result in substantial if not complete loss of the amount used to purchase the tokens;
  109. The Holder acknowledges that the software, application and the Services that the Company may develop, including $SOVRN and other digital assets, would be new, unproven and in the early development stage. There is an inherent risk that the software or application could contain weaknesses, vulnerabilities, or bugs causing, inter alia, the complete loss of $SOVRN and digital assets, or the risk that $SOVRN and digital assets may not have their intended functionalities or may have no functions at all. There is likewise a general risk with new technologies that they may not function entirely as intended or create other unknown risks;
  110. The Holder acknowledges and agrees that (a) there exists no guarantee of the utility, functionality, security, or availability of $SOVRN and/or the software and networks pertaining to $SOVRN, and (b) the underlying blockchain-based networks are subject to sudden changes in operating rules, such as those commonly referred to as “forks,” which may materially affect $SOVRN and the Services.
  111. The Holder accepts and agrees that $SOVRN is a utility token and thus assumes the risk the Company may not be able to provide or develop any useful benefit or feature associated with $SOVRN, and that $SOVRN may not confer any rights or have no practical purpose. The Holder acknowledges the Company's discretion to modify the Services and its associated projects without notice, and explicitly accepts that the Company shall not be liable for deviations from the original conceptualization. The Holder, having the requisite knowledge, experience, and professional advice, is responsible for independently evaluating the risks and accepts that the Company is not obliged to provide any assurances about the availability, functionality, or continuity of $SOVRN;
  112. The Holder understands and agrees to the inherent risks associated with cryptographic systems and blockchain-based networks, digital assets, including the usage and intricacies of native digital assets, smart contract-based tokens (including fungible tokens and NFTs), and systems that interact with blockchain-based networks. The Company does not own or control all of the underlying software through which other blockchain networks are formed. For example, the software underlying certain blockchain networks is open-source, such that anyone can use, copy, modify, and distribute it;
  113. The Holder acknowledges that any use or interaction with $SOVRN and the Services requires a comprehensive understanding of applied cryptography and computer science to appreciate the inherent risks, including those listed above. The Holder represents and warrants that it possesses relevant knowledge and skills;
  114. The Holder acknowledges and understands that cryptography is a progressing field with advances in code cracking or other technical advancements, such as the development of quantum computers, which may present risks to digital assets and the Services, and could result in the theft or loss of the Holder’s Token and digital assets.
  115. The Holder understands that blockchain networks use public and private key cryptography. Thus, the Holder alone is responsible for securing its private key(s). The Company does not have access to the private key(s) of the Holder or any other Person. Losing control of the private key(s) will permanently and irreversibly deny the Holder access to the digital assets contained within a wallet or a network. Neither the Company nor any other person or entity will be able to retrieve or protect the Holder’s Token and digital assets. If the private key(s) of the Holder are lost, the Holder will not be able to transfer their digital assets to any other blockchain address or wallet. If this occurs, then the Holder will not be able to realize any value or utility from the Token and digital assets that the Holder may hold;
  116. The Holder understands that the markets for these digital assets are highly volatile due to factors including (but not limited to) adoption, speculation, technology, security, and regulation;
  117. The Holder acknowledges that $SOVRN and the Services may be subject to flaws and that the Holder is solely responsible for evaluating and assessing any code pertaining thereto. This warning and other warnings that the Company provides herein are in no way evidence or represent an on-going duty to alert you to all of the potential risks of purchasing the $SOVRN and utilizing the Services;
  118. The Holder acknowledges and accepts that $SOVRN and digital assets in general are relatively new innovations and technologies whose regulatory treatment are presently uncertain and could lead to them being considered as securities and subject to restrictions under applicable law concerning their purchase, sale, trade and other related transactions. Any unintended violation of law may lead to enforcement action and penalties;
  119. The Holder agrees and accepts that $SOVRN and any other digital assets could be impacted by one or more regulatory inquiries or regulatory actions, which could impede or limit the ability of the Company to generate, make available or provide the Services;
  120. The Holder acknowledges and accepts the risk that $SOVRN and digital assets, once generated and issued, may lose some or all of their value and that the Holder may suffer large and immediate financial loss due to the fluctuation of prices of the Token;
  121. The Holder understands that $SOVRN and digital assets in general, may be subject to expropriation and/or theft by hackers or other malicious groups by obstructing the token smart contract which creates the tokens in a variety of ways, including, but not limited to, malware attacks, denial of service attacks, consensus-based attacks, Sybil attacks, smurfing and spoofing;
  122. The Holder understands and accepts that the purchase and sale of $SOVRN may possibly have tax consequences in the relevant jurisdiction and, in such an event, the Holder is solely responsible for reporting and paying any taxes associated therewith;
  123. The Holder acknowledges and accepts that the tax or regulatory treatment of crypto or blockchain transactions and airdrops can vary depending on individual circumstances and the applicable laws and that your participation or engagement therein may subject you to potential tax or regulatory risk and liability, including possible technological and security risks as well as financial losses or damages;
  124. The Holder assumes and agrees that the Company will have no responsibility or liability for any and all the risks associated with $SOVRN and the Services as set forth herein. Thus, the Holder hereby irrevocably waives, releases and discharges all claims, whether known or unknown, against the Company, its Affiliates and their respective shareholders, members, directors, officers, employees, agents and representatives related to any of the risks set forth herein;
  125. The Holder confirms and accepts that there are risks associated with $SOVRN and/or the Services that the Company cannot anticipate and such risks may appear as unanticipated variations or combinations of the risks discussed above. Accordingly, the Holder likewise assumes and acknowledges such risks regardless of the fact that the same is not expressly discussed or enumerated above.
  126. 11. SUPPORT
  127. You may contact us at legal@sovrun.org for any technical and customer support that you may need with respect to the Website and the Services.