OpenWorld Finance Terms of Service

Last revised: 7 May 2024

OpenWorld Technology Corporation (“OpenWorld” or “Company”)) provides services that allow users to stake their crypto into various products that generate yield. OpenWorld’s services include the Website [ow.finance], any content, tools, documentation, features, app, dApp, and functionality offered on or through the Website (“Sites”) or third-party sites, as well as live events or other activities (“Services”).

By using OpenWorld, you agree to the Terms of service outlined in this document (“Terms”). For purposes of these Terms, “you” and “your” means you as the user of the Services. If you use the Services on behalf of a company or other entity then “you” includes you and that entity, and you represent and warrant that (a) you are an authorized representative of the entity with the authority to bind the entity to these Terms, and (b) you agree to these Terms on the entity’s behalf. Additionally, by using OpenWorld, you agree to be bound by other terms, policies and regulations published by OpenWorld, which may be amended from time to time, and forming an integral part of this Terms and your continued use of the Services consitutes your agreement to any such amendements.

  1. Eligibility to user the service

By using our Services, you acknowledge and confirm the following:

  1. If individual, you must be 18 years of age or older or possess the legal capacity to form a binding contract under the laws applicable to your residence.

  2. If registering as a legal entity, business, or other organization, you confirm that you have the full legal authority and necessary permissions to enter into these Terms of Service.

  3. You are not a Prohibited Person to use the Services. A “Prohibited Person” is any person or entity that is:

(i) the subject of any economic or trade sanctions administered or enforced by any governmental authority, including any person designated on any list of prohibited or restricted parties by any governmental authority, such as the European Union (“EU”) Consolidated List of Persons, the United Kingdom (“UK”) Consolidated List of Financial Sanctions Targets, the United States (“U.S.”) Treasury Department’s list of Specially Designated Nationals, and the U.S. Department of Commerce Denied Persons or Entity Lists;

(ii) located in, incorporated in, or otherwise organized or established in, or resident of, any country, territory, or jurisdiction that is the subject of comprehensive country-wide or regional economic sanctions or embargoes or has been designated as “terrorist supporting” by the United Nations (“UN”) or any governmental authority of the European Union, UK, or the U.S., including the Office of Foreign Assets Control (“OFAC”) of the U.S. Treasury Department or the Office of Financial Sanctions (“OFSI”) of HM Treasury of the UK (each such country, territory, or jurisdiction, a “Sanctioned Jurisdiction”);

(iii) owned or controlled by such persons or entities described in (i),(ii); or

(iv) accessing or using the Services on behalf of persons or entities described in (i)-(iii).

You acknowledge and agree that you are solely responsible for complying with all applicable laws of the jurisdiction you are a resident of, or located or accessing the Services from, in connection with your use of the Services. By using the Services, you represent and warrant that you meet these requirements and will not be using the Services for any illegal activity or to engage in the prohibited activities.

When you utilize any data inputs provided by OpenWorld to execute transactions, you acknowledge that you are interacting with public blockchains, which provide transparency into your transactions. The Company does not control and is not responsible for any information you make public on any public blockchain by taking actions utilizing data provided the Services.

  1. Restrictions on using the Services

You shall not do any of the following in connection with your use of the Services, unless applicable laws or regulations prohibit these restrictions or you have obtained official written permission to do so:

(a) download, modify, copy, distribute, transmit, display, perform, reproduce, duplicate, publish, license, create derivative works from, or offer for sale any information contained on, or obtained from or through, the Services, except for temporary files that are automatically cached by your web browser for display purposes, or as otherwise expressly permitted in these Terms;

(b) use, reproduce or remove any copyright, trademark, service mark, trade name, slogan, logo, image, or other proprietary notation displayed on or through the Services;

(c) use automation software (bots), hacks, modifications (mods) or any other unauthorized third-party software designed to modify the Services;

(d) access or use the Services in any manner that could disable, overburden, damage, disrupt or impair the Services or interfere with any other party’s access to or use of the Services or use any device, software or routine that causes the same;

(e) circumvent, remove, alter, deactivate, degrade or thwart any technological measure or content protections of the Services or the computer systems, wallets, accounts, protocols or networks connected to the Services;

(f) use any robot, spider, crawlers or other automatic device, process, software or queries that intercepts, “mines,” scrapes or otherwise accesses the Services to monitor, extract, copy or collect information or data from or through the Services, or engage in any manual process to do the same;

(g) introduce any viruses, trojan horses, worms, logic bombs or other materials that are malicious or technologically harmful into our systems;

(h) submit, transmit, display, perform, post or store any content that is inaccurate, unlawful, or otherwise objectionable;

(i) violate any applicable law or regulation, including money laundering or tax evasion laws, in connection with your access to or use of the Services; or

(j) access or use the Services in any way not expressly permitted by these Terms.

  1. Ownership and Feedback

We, hold the ownership of all services, including design, graphics, navigation, images, content, information and other materials whether or not required to be registered under any legal system. You agree that OpenWorld owns all rights, title and interest and agree not to take any action inconsistent with our ownership interests. We reserve all rights in connection to the services and content, including exclusive rights to all derivative works. And, nothing in this Terms will be construed as granting to you, by implication, estoppel or otherwise, any additional license rights in and to the Service, or any of our content or trademarks located or displayed on or within the Service.

You also agree that all feedback, reviews, posts, information, data and comments provided on the Sites, via our Services may be used by OpenWorld to improve the product, Services and shall be deemed and remain our property, and we shall be free to use and disclose, for any purpose.. We shall not be subject to any obligations of confidentiality or privacy regarding such submitted feedback, information. Any incentive or reward for feedback is at the sole discretion of OpenWorld and not mandatory or expected. You hereby assign to OpenWorld any and all rights, title and interest (including, but not limited to, any patent, copyright, trade secret, trademark, show-how, know-how, moral rights and any and all other intellectual property right) that you may have in and to any and all feedback.

  1. Transaction fees

Transactions executed by you utilizing data provided by the Services may cause you to incur fees such as blockchain gas or similar network fees, as well as fees charged by the Protocol, if any, and Third Party Protocols. All such fees displayed within your Wallet utilizing data inputs provided by the App are merely estimates and may not reflect actual costs incurred in broadcasting a transaction for execution according to the applicable consensus mechanism. Additionally, your external Wallet provider may impose a fee. We are not responsible for any fees charged by a third party. Due to the nature of distributed, public blockchains, transactions executed by you utilizing data provided by the Services are non-refundable and the Company is not able to alter or mitigate any such fees. You will be responsible for paying any and all taxes, duties and assessments now or hereafter claimed or imposed by any governmental authority associated with your use of the Services, the App, the Protocol, and Third-Party Protocols. In certain cases, your transactions may not be successful due to an error with the blockchain or the Wallet, or due to changes in the distributed blockchain environment (e.g., during a spike in demand for block space and/or activity on the relevant network). We are not responsible or liable for any such failed transactions, or any transaction or gas fees that may be incurred by you in connection with such failed transactions.

“Protocol” refers to the specific set of rules, standards and procedures that established and maintained by OpenWorld that governs the execution of transactions. If the transactions execution involve third parties, who are separate entities with OpenWorld, you agree to be bound by the third parties protocols (“Third Party Protocols”).

  1. Third Party Services

The Services may display, include or make available services, content, data, information, applications, or materials from third parties or provide links to certain third-party websites (“Third-Party Services and Materials”). OpenWorld does not endorse any Third-Party Services and Materials. You agree that your access and use of such Third-Party Services and Materials is governed solely by the terms and conditions of such Third-Party Services and Materials, as applicable. OpenWorld is not responsible or liable for, and makes no representations as to any aspect of such Third-Party Services and Materials, including, without limitation, their content or the manner in which they handle, protect, manage, or process data or any interaction between you and the provider of such Third-Party Services and Materials. OpenWorld is not responsible for examining or evaluating the content, accuracy, completeness, availability, timeliness, validity, copyright compliance, legality, decency, quality or any other aspect of such Third-Party Services and Materials or websites. You irrevocably waive any claim against OpenWorld with respect to such Third-Party Services and Materials. We are not liable for any damage or loss caused or alleged to be caused by or in connection with your enablement, access, or use of any such Third-Party Services and Materials, or your reliance on the privacy practices, data security processes, or other policies of such Third-Party Services and Materials. Third-Party Services and Materials and links to other websites are provided solely as a convenience to you.

  1. Limitations of Liability and Indemnification

Your access to and use of the Services are at your own risk. You understand and agree that the Services are provided to you on an “AS IS” and “AS AVAILABLE” basis. Without limiting the foregoing, to the maximum extent permitted under applicable law, the Company, its parents, affiliates, related companies, officers, directors, employees, agents, representatives, partners and licensors (the “Company Entities”), and OpenWorld, Multisig Members disclaim all warranties and conditions, whether express, implied or statutory, including without limitation any warranties relating to title, merchantability, fitness for a particular purpose, non-infringement, usage, quality, performance, suitability or fitness of the services and the protocol for any particular purpose, or as to the accuracy, quality, sequence, reliability, workmanship or technical coding thereof, or the absence of any defects therein whether latent or patent. The Company Entities and OpenWorld, MultiSig Members make no warranty or representation and disclaim all responsibility and liability for: (a) the completeness, accuracy, availability, timeliness, security or reliability of the Services and the Protocol; (b) any harm to your computer system, loss of data, or other harm that results from your access to or use of the Services or the Protocol; (c) the operation or compatibility with any other application or any particular system or device, including any Wallets; and (d) whether the Services or the Protocol will meet your requirements or be available on an uninterrupted, secure or error-free basis.

No advice or information, whether oral or written, obtained from the Company Entities or through the Services, will create any warranty or representation not expressly made herein. You agree and understand that all transfers, staking, or other actions you perform utilizing transaction data provided by the services are considered unsolicited, which means that you have not received any investment or finacial advice from us in connection with any such action, and that we have not actively solicited your use of the Services, and that we do not conduct a suitability review of any such action.

All information provided by our Services is for informational purposes only and should not be construed as investment or financial advice. You should not take, or refrain from taking, any action based on any information contained in the the Services. We do not make any investment or financial recommendations to you or opine on the merits of any investment transaction or opportunity. You solely are responsible for determining whether any investment, investment strategy or related transaction is appropriate for you based on your personal investment objectives, financial circumstances, and risk tolerance.

To the extent not prohibited by law, you agree that in no event will the Company Entities or OpenWorld members be liable (a) for damages of any kind, including direct, indirect, special, exemplary, incidental, consequential or punitive damages (including, but not limited to, procurement of substitute goods or services, loss of use, data or profits, business interruption or any other damages or losses, arising out of or related to your use or inability to use the services), however caused and under any theory of liability.

You are responsible for your interactions with other users on or through the Services or social media and communications platforms. While we reserve the right to monitor interactions between users, we are not obligated to do so, and we cannot be held liable for your interactions with other users, or for any user's actions or inactions. If you have a dispute with one or more users, you release us (and our affiliates and subsidiaries, and our and their respective officers, directors, employees and agents) from claims, demands and damages (actual and consequential) of every kind and nature, known and unknown, arising out of or in any way connected with such disputes. In entering into this release you expressly waive any protections (whether statutory or otherwise) that would otherwise limit the coverage of this release to include only those claims which you may know or suspect to exist in your favor at the time of agreeing to this release.

By using the Services, you represent that you have sufficient knowledge and experience in business and financial matters, including a sufficient understanding of blockchain technologies, cryptocurrencies and other digital assets, storage mechanisms (such as Wallets), and blockchain-based software systems to be able to assess and evaluate the risks and benefits of the Services contemplated hereunder, and will bear the risks thereof, including loss of all amounts paid, and the risk that the cryptocurrencies and other digital assets may have little or no value. You acknowledge and agree that there are risks associated with purchasing and holding cryptocurrency, using blockchain technology and staking cryptocurrency. These include, but are not limited to, risk of losing access to cryptocurrency due to slashing, loss of private key(s), custodial error or purchaser error, risk of mining or blockchain attacks, risk of hacking and security weaknesses, risk of unfavorable regulatory intervention in one or more jurisdictions, risk related to token taxation, risk of personal information disclosure, risk of uninsured losses, volatility risks, and unanticipated risks. You acknowledge that 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.

There are certain multi-signature crypto wallets (the “MultiSigs” - This is the wallet used to manage OpenWorld’s revenue sources, and the signatories to such MultiSigs, the “MultiSig Members”) that have certain controls related to the Protocol, that may include, but are not limited to, the ability to pause certain functionality of the Protocol, implement, or influence upgrades to the Protocol (or any aspect thereof) and certain other controls of the functionality of the Protocol as described in the Documentation or in public communications. While the MultiSigs may have MultiSig Members that are employed or engaged by the Company, they may be controlled partially or entirely by MultiSig Members that are unaffiliated third parties over which we have no or limited control. We will not be able to control the actions of such MultiSig Members if they are not employed or engaged by us and thus certain MultiSigs will be outside of our control. The Company therefore cannot be held liable for any action, or inaction, relating to such a MultiSig.

The regulatory regimes governing blockchain technologies, cryptocurrencies and other digital assets are uncertain, and new regulations or policies may materially adversely affect the potential utility or value of the Services, the Protocol, Third-Party Protocols, cryptocurrencies and other digital assets, or the ability of the Company to continue to provide or support such Services and/or the App. Additionally, taxation of activities and transactions in cryptocurrencies and other digital assets is uncertain in certain cases in certain jurisdictions. You are encouraged to consult with your own tax advisor with respect to potential tax implications associated with utilizing the Services, the App, and the Protocol.

We cannot control or influence market sentiment or liquidity or how third-party services (e.g. decentralized exchanges) or platforms support, quote, restrict or provide access to, or value cryptocurrencies and other digital assets and we expressly deny and disclaim any liability to you and deny any obligations to indemnify or hold you harmless for any losses you may incur as a result of fluctuations in the value of cryptocurrencies or other digital assets.

Smart contracts execute automatically when certain conditions are met. Transactions on blockchains or using smart contracts often cannot be stopped or reversed, so vulnerabilities in the programming, design, or implementation of a blockchain, the Protocol, any deployed smart contracts, or a Third-Party Protocol may arise due to hacking or other security incidents and could result in significant adverse effects, including but not limited to, significant volatility or loss of any digital assets elected into the Protocol.

The Company hereby disclaims any and all liability associated with risks disclosed in the Documentation to the fullest extent provided by applicable law.

By entering into these Terms and accessing or using the Services, you agree that you shall defend, indemnify and hold OpenWorld, the Company Entities and MultiSig Members harmless from and against any and all claims, costs, damages, losses, liabilities and expenses (including attorneys' fees and costs) incurred by the Company Entities arising out of or in connection with: (a) your violation or breach of any term of these Terms or any applicable law or regulation; (b) your violation of any rights of any third party; (c) your misuse of the Services; or (d) your negligence or willful misconduct. If you are obligated to indemnify any Company Entity hereunder, then you agree that Company (or, at its discretion, the applicable Company Entity) will have the right, in its sole discretion, to control any action or proceeding and to determine whether Company wishes to settle, and if so, on what terms, and you agree to fully cooperate with Company in the defense or settlement of such claim.

  1. Force majeure

OpenWorld will not be liable for any failures or delays caused by events outside our reasonable control, which could not have been avoided even with all efforts to the contrary. These events may include, but are not limited to, actions by the government or terrorist acts, natural disasters like earthquakes, fires, typhoons, floods, conflicts such as wars, cyber incidents like hacker attacks or computer virus infiltrations, changes in regulations making this Term illegal, or other unforeseeable acts like labor issues, delays or failures stemming from problems in other systems or networks, mechanical failures, or data processing breakdowns, as well as situations where we are obligated to comply with other legal requirements.

  1. Suspension and termination of service

The Company may, in its sole discretion, suspend or terminate your access to or use of any of the Services, with or without notice, for any or no reason. All sections which by their nature should survive the termination of these Terms shall continue in full force and effect after and notwithstanding any termination of this Terms by the Company or you. Termination will not limit any of the Company's other rights or remedies at law or in equity.

  1. Dispute resolution and arbitration

You and OpenWorld agree that any dispute arising out of or related to this Terms , including threshold questions of the arbitrability of the dispute, is personal to you and OpenWorld and that any dispute will be resolved solely through individual action, and will not be brought as a class arbitration, class action or any other type of representative proceeding.

Except for small claims disputes in which you or OpenWorld seeks to bring an individual action in small claims court located in the county or other applicable jurisdiction where you reside or disputes in which you or OpenWorld seeks injunctive or other equitable relief for the alleged unlawful use of intellectual property, you and OpenWorld waive your rights to a jury trial and to have any dispute arising out of or related to this Agreement or the Website resolved in court. Instead, for any dispute or claim that you have against OpenWorld or relating in any way to the Services, you agree to first contact OpenWorld and attempt to resolve the claim informally by sending a written notice of your claim ("Notice") to OpenWorld by email at communications@owfin.io.

The Notice must include your name, residence address, email address, and telephone number, describe the nature and basis of the claim and set forth the specific relief sought. Our notice to you will be similar in form to that described above.

After the informal dispute resolution process, any remaining dispute, controversy, or claim (collectively, “Claim”) relating in any way to the Services and any usage of the Protocol, will be resolved by arbitration, including threshold questions of arbitrability of the Claim. You expressly agree that any Claim will be settled by final and binding arbitration, using the English language, administered by JAMS under its Comprehensive Arbitration Rules and Procedures (the “JAMS Rules”) then in effect (those rules are deemed to be incorporated by reference into this section, and as of the date of these Terms). Legislation concerning arbitration may govern the arbitrability of all disputes in an applicable jurisdiction. However, the arbitrator will apply applicable substantive law consistent with such legislation and the applicable statute of limitations or condition precedent to suit. Arbitration will be handled by a sole arbitrator in accordance with the JAMS Rules. Judgment on the arbitration award may be entered in any court that has jurisdiction. Any arbitration under these Terms will take place on an individual basis – class arbitrations and class actions are not permitted. You understand that by agreeing to these Terms, you are waiving the right to trial by jury or to participate in a class action or class arbitration.

To the fullest extent permitted by applicable law, you expressly agree that any proceeding to resolve any dispute, claim, or controversy will be brought and conducted only in the respective party’s individual capacity and not as part of any class (or purported class), consolidated, multiple-plaintiff, or representative action or proceeding (“class action”). You expressly agree to waive the right to participate as a plaintiff or class member in any class action. You expressly waive any ability to maintain a class action in any forum. If the dispute is subject to arbitration, the arbitrator will not have the authority to combine or aggregate claims, conduct a class action, or make an award to any person or entity not a party to the arbitration. Further, you agree that the arbitrator may not consolidate proceedings for more than one person’s claims, and it may not otherwise preside over any form of a class action. For the avoidance of doubt, however, you can seek public injunctive relief to the extent authorized by law and consistent with the Exceptions clause above.

If this class action waiver is limited, voided, or found unenforceable, then, unless the parties mutually agree otherwise, the parties’ agreement to arbitrate shall be null and void with respect to such proceeding so long as the proceeding is permitted to proceed as a class action. If a court decides that the limitations of this paragraph are deemed invalid or unenforceable, any putative class, private attorney general, or consolidated or representative action must be brought in a court of proper jurisdiction and not in arbitration.

  1. Updates to these terms

We may modify these Terms from time to time in which case we will update the “Last Revised” date at the top of these Terms. It is your sole responsibility to review these Terms from time to time to view any changes. The updated Terms will be effective as of the time of posting, or such later date as may be specified in the updated Terms. Your continued access or use of the Services after the modifications have become effective will be deemed your awareness and acceptance of the modified Terms.

For any questions on these terms of service, you may contact communications@owfin.io

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