Terms and Conditions

1 This document

1.1 These terms and conditions and any terms and conditions published from time to time on the Website (being http://info@cryptrade.net and the Crowdfunding site https://ico.acetoken.io and https://acetoken.io) constitute the legal relationship and agreement between you, the Crowdfunder, and the CrypTrade in respect of your participation in the Crowdfunding, receiving and holding Tokens, and your use of the Website.

1.2 By using the Website and participating in the ICO you agree to these terms and conditions. The CrypTrade reserves the right to amend the terms and conditions at any time and such amendments will be effective immediately upon publication on the Website. By continuing to use the Website and participating in the Crowdfunding you accept such amendments.

1.3 If you do not agree to these terms and conditions, you must refrain from using the Website and participating in the Crowdfunding.

2 Website

2.1 The CrypTrade reserves the right, at its sole and absolute discretion and without giving prior notice, to:
(a) vary, modify, add or remove features, or amend any content on the Website. You shall be deemed to have accepted and agreed to any such change if you access or use the Website after the change is published on the Website; and
(b) block or restrict access to, or terminate, withdraw or suspend use of the Website or any part of the Website. No CrypTrade Party will be liable for any Loss which may be incurred as a result of such action.

2.2 The Website may contain hyperlinks to websites which are not maintained or controlled by the CrypTrade. All hyperlinks to such websites are provided as a convenience to you. Use of the hyperlinks and access to such websites is entirely at your own risk. All CrypTrade Parties disclaim any responsibility and liability for any third party content contained in websites linked to the Website and shall not be liable for any Loss arising from you accessing or using such websites.

2.3 The inclusion of any hyperlink does not imply endorsement by the CrypTrade of such websites. Under no circumstances shall the CrypTrade be considered to be associated or affiliated in any manner with any trade or service marks, logos, insignia or other devices used or appearing on websites to which the Website is linked.

3 Crowdfunding

3.1 Crowdfunders will donate funds to the CrypTrade for the development of ACE and Simple Wallet, and will receive Tokens in recognition of donations.

3.2 From time to time the CrypTrade may hold a poll to elicit the opinion of Token holders. Poll results will be taken into account in decisions made concerning the financial or technical direction or implementation of CrypTrade. However, the outcome of a poll will not, in any circumstances, be binding on the CrypTrade or enforceable by Token holders. Only valid Token holders are authorised to participate in a poll.

3.3 Tokens impart no rights, express or implied, other than the ability to receive any rewards described in the Whitepaper and the Crowdsale site, if CrypTrade is successfully completed and deployed. In particular, Crowdfunders will not have any influence in the development or governance of the CrypTrade, any Operator or CrypTrade, and Tokens do not represent or constitute any ownership right or stake, share or security or equivalent rights or any right to receive future revenue shares, intellectual property rights or any other form of participation in or relating to the CrypTrade, any Operator or CrypTrade. The sole and exclusive usage rights of these intellectual property rights are held by and assigned to the CrypTrade and its nominees.

3.4 Crowdfunding will be conducted via the Website and will consist of the CrypTrade taking donations and providing Tokens in recognition of such donations. Crowdfunders may donate using the crypto-currencies notified on the Website (see clause 6 below). Failure to follow the Crowdfunding instructions on the Website may limit, delay, or prevent a Crowdfunder from donating.

3.5 There are no guarantees that CrypTrade will be delivered within any particular timeframe, or at all (see clause 5).

3.6 By donating to the CrypTrade, and to the extent permitted by applicable law, you agree to not hold any CrypTrade Party liable for any Loss arising out of, or in any way connected to, your failure to properly secure and keep private your email address and any password used in connection with Crowdfunding.

4 Creation of Tokens

4.1 Tokens will be created and provided to Crowdfunders after completion of the Crowdfunding.

4.2 The funds raised from the Crowdfunding will be applied towards the marketing and development of CrypTrade in accordance with the Whitepaper and the Development Plan.

5 Timing of Crowdfunding

5.1 Crowdfunding will begin at the Commencement Time and continue for a period of 1 year and end at the Closing Time.

5.2 The CrypTrade reserves the right to change the Commencement Time or the Closing Time in its absolute discretion. Any such changes will be published on the Website.

6 Bonus Tokens

6.1 Subject to clauses 6.2 and 6.3, during the Crowdfunding, 8000ACE will be provided for the equivalent of every 1 Bitcoin donated.

6.2 Bonuses will be available by the Fourth phase of the Crowdfunding as follows:
The First phase 19/3/2017 to 09/5/2017 12,000ACE will be provided for the equivalent of every 1 Bitcoin donated;
The Second phase 26/5/2017 to 16/7/2017 11,000ACE will be provided for the equivalent of every 1 Bitcoin donated;
The Third phase 03/8/2017 to 09/10/2017 9,000ACE will be provided for the equivalent of every 1 Bitcoin donated;
The Fourth phase 25/10//2017 to 31/12/2017 8,500ACE will be provided for the equivalent of every 1 Bitcoin donated;

6.3 The CrypTrade may determine in its absolute discretion that any other bonuses may apply during the Crowdfunding.

7 Obligation to determine Crowdfunder can participate in Crowdfunder’s jurisdiction

It is the responsibility of each potential Crowdfunder to determine if the Crowdfunder can legally participate in the Crowdfunding, make donations to the CrypTrade, and receive and hold Tokens in the Crowdfunder’s jurisdiction.

8 Acceptance of Crowdfunding terms and conditions

8.1 By using the Website and participating in the Crowdfunding you represent and warrant that you:
(a) are legally permitted to participate in the Crowdfunding, make donations to the CrypTrade, or receive and hold Tokens in your jurisdiction;
(b) are of a sufficient age to legally participate in the Crowdfunding, make donations to the CrypTrade, or receive and hold Tokens;
(c) are not participating in the Crowdfunding, making donations to the CrypTrade, receiving and holding Tokens, or exchanging any crypto-currency for Tokens for the purpose of speculative investment;
(d) are not participating in the Crowdfunding, making donations to the CrypTrade, or receiving and holding Tokens for an illegal purpose;
(e) have an understanding of the usage and intricacies of crypto-currencies, cryptographic tokens and blockchain-based software systems.

8.2 Further, by using the Website and participating in the Crowdfunding you acknowledge and agree that:
(a) you take sole responsibility for any restrictions and risks associated with participating in the
Crowdfunding, making donations to the CrypTrade, or receiving and holding Tokens, whether referred to in these terms and conditions, arising under any applicable law or otherwise;
(b) you waive the right to participate in any class action lawsuit or any class wide arbitration against any CrypTrade Party;
(c) you are participating in the Crowdfunding, making donations to the CrypTrade, and receiving and holding Tokens to facilitate the development, testing, deployment and operation of ACE and Simple Wallet;
(d) the proposed outcomes discussed in the Whitepaper or the Development Plan may not be achieved;
(e) Tokens may not provide the rewards envisaged;
(f) participating in the Crowdfunding, making donations to the CrypTrade, or receiving and holding Tokens do not grant any decision making power, including (without limitation) in relation to development, governance or the role, conduct or performance of the CrypTrade or any Operator;
(g) you will not hack into, interfere with, disrupt, disable, overburden or otherwise impair the proper working of the Website;
(h) you will not violate or attempt to violate the security of the Website;
(i) you will not access information or data which you are not authorised to access;
(j) you will promptly provide to the CrypTrade or any Operator, upon request, any additional information which the CrypTrade or any Operator may consider necessary in providing services on the Website; and
(k) you will ensure that any information or content posted, or permitted or caused to be posted, on the Website, shall be non-confidential or non-proprietary unless expressly indicated otherwise, and not offensive, illegal under any applicable law, and that you will be responsible for all such information or content.

9 Token purchase confirmation

CrypTrade will provide you with a unique intermediary address so you can confirm that your payment has been received and that such payment has subsequently and automatically been sent to the Escrow Address.

10 Crowdsale Crowdfunding on Website only

10.1 The CrypTrade will only Crowdfund via the Website. To the extent that any third party website or service takes donations to the CrypTrade, provides Tokens during the Crowdfunding, or facilitates donations to the CrypTrade or the provision of Tokens in any way during the Crowdfunding or at any time up to the launch of CrypTrade, such third party websites or services are not in any way supported, endorsed or sanctioned by any CrypTrade Party and have no relationship in any way with the CrypTrade.

10.2 The only official and authorised Crowdfunding website URL operated by the CrypTrade is https://ico.acetoken.io and https://acetoken.io. You must ensure that the URL of your web browser indicates that it is using a hypertext transport protocol secure connection (“https”) and that the domain name is correct.

10.3 By participating in the Crowdfunding, making donations to the CrypTrade, or receiving and holding Tokens, to the extent permitted by applicable law, you agree that no other party (including, without limitation any CrypTrade Party) may be held liable for any Loss arising out of, or in any way connected to your participation in the Crowdfunding, donations to the CrypTrade, or receiving and holding Tokens in any manner other than via the Website.

11 Limitations on receiving Tokens

There will be no limitations on the amount of Tokens provided during the Crowdfund. A party may receive any number of the total Tokens provided.

12 Fraudulent attempts to double spend cryptocurrency

The CrypTrade will monitor all potential transactions for attempts to double spend any crypto-currency or cryptographic tokens during Crowdfunding. Any detected double spend will result in no Tokens being provided to the relevant party.

13 Warning: do not participate in this Crowdfunding if you are not familiar with or do not understand cryptographic tokens, crypto-currency, and blockchain-based software systems.

13.1 Only parties having significant experience with, or an understanding of, the use and intricacies of Crypto-token Technology should participate in the Crowdfunding.

13.2 While the CrypTrade will provide general guidelines in relation to use and storage of Tokens, you should have a functional understanding of storage and transmission mechanisms associated with Crypto-token Technology. While the CrypTrade will be available to assist you during and after the Crowdfunding, no CrypTrade Party will be liable for any Loss arising out of, or in any way connected to any actions taken by, or any omissions by any Crowdfunder.

14 Warning: Token price may experience extreme volatility

14.1 Cryptographic tokens or crypto-currencies that possess value in public markets, such as BTC, have demonstrated extreme fluctuations in price over short periods of time on a regular basis. You must be prepared to accept similar fluctuations in Token value. Such fluctuations are due to market forces and represent changes in the balance of supply and demand. The CrypTrade cannot and does not guarantee any market liquidity for Tokens. Additionally, due to different regulatory requirements in different jurisdictions, and the inability of citizens of certain countries to open accounts at exchanges located anywhere in the world, the liquidity of Tokens may be markedly different in different jurisdictions.

14.2 By participating in the Crowdfunding, making donations to the CrypTrade, or receiving and holding Tokens, you acknowledge and agree that you fully understand that Tokens may experience volatility in pricing and liquidity, and that, to the extent permitted by applicable law, you agree that no other party (including, without limitation any CrypTrade Party) may be held liable for any Loss arising out of, or in any way connected your participation in the Crowdfunding, donations to the CrypTrade, or receiving and holding Tokens.

15 Warning: Receiving Tokens has a number of risks

15.1 Tokens carries risk. Prior to receiving Tokens, you should carefully consider such risk and, to the extent necessary, consult with an appropriately qualified advisor. If any of the following risks are unacceptable to you, you should not accept Tokens. By participating in the Crowdfunding, making donations to the CrypTrade, or receiving and holding Tokens, you acknowledge and agree that you understand the risks described below and that, to the extent permitted by applicable law, you agree that no other party (including, without limitation any CrypTrade Party) may be held liable for any Loss arising out of, or in any way connected with your participation in the Crowdfunding, donations to the CrypTrade, or receiving and holding Tokens or such risk.

15.2 Dissolution of the CrypTrade due to a diminishment in the value of other Crypto-token Technology. All Crowdfundersryptographic tokens or crypto-currencies to participate in the Crowdfunding, make donations, or receive and hold Tokens. While some of these may have been relatively stable, it is possible that their values may drop significantly in the future, which may deprive the CrypTrade of sufficient resources to continue to operate.

15.3 Regulatory action in one or more jurisdictions
Crypto-token Technology has been the subject of regulatory scrutiny by various regulatory bodies in numerous jurisdictions. CrypTrade and Tokens could be impacted by one or more regulatory inquiries or regulatory actions, which could impede or limit the ability of the CrypTrade to develop Simple Wallet and ICO platform.

15.4 Insufficient interest in the CrypTrade and ACE
It is possible that CrypTrade or ACE will not be used by a large number of individuals, businesses and other organisations and that there will be limited public interest in the creation and development of its functionalities. Such a lack of interest could impact the development of Simple Wallet and ICO platform.

15.5 Simple Wallet and ICO platform, as developed, will not meet Token holder expectations
Crowdfunders acknowledge that CrypTrade is currently under development and may undergo significant changes before release.

15.6 CrypTrade may never be completed or released
The Crowdfunder understands, that while the CrypTrade will make reasonable efforts to complete Simple Wallet and ICO platform, it is possible that an official completed version of Simple Wallet and ICO platform may not be released and there may never be an operational Simple Wallet.

15.7 Theft
Hackers or other groups or organisations may attempt to steal ACE Tokens.

15.8 Other applications
The CrypTrade may give rise to other, alternative projects, promoted by unaffiliated third parties, under which Tokens will have no intrinsic value.

15.9 Ethereum mining attacks
The Crowdfunder understands and accepts that, as with other Crypto-token Technology, the Ethereum blockchain used for ACE is susceptible to mining attacks, including but not limited to double-spend attacks, majority mining power attacks, “selfish-mining” attacks, and race condition attacks. Any successful attacks present a risk to the project, expected proper execution and sequencing of Token of ACE transactions, and expected proper execution and sequencing of contract computations.

15.10 Weaknesses or exploitable breakthroughs in the field of cryptography
Cryptography is a rapidly developing field with advances in code cracking and technical advances, which could present a risk to Simple Wallet and ICO platform and potentially result in the theft or loss of Tokens or ACE. To the extent possible, the CrypTrade intends to update the protocol underlying Simple Wallet and ICO platform to account for any advances in cryptography and to incorporate additional security measures, but it cannot predict the future of cryptography or the success of any future security updates.

16 All donations are non-refundable

16.1 All donations to the CrypTrade are final and non-refundable. By participating in the Crowdfund, you acknowledge that the CrypTrade is not required to provide a refund for any reason, and that you will not receive money or other compensation in lieu of a refund.

17 Acceptance of terms and conditions of the Crowdfunding

By participating in the Crowdfunding, you expressly acknowledge and represent that you have carefully reviewed these terms and conditions, the Whitepaper, the Website and fully understand the risks, costs, and benefits associated with Tokens and you agree to be bound by these terms and conditions.

18 Taxation

The CrypTrade makes no representations concerning the tax implications of participating in the Crowdfunding, making donations to the CrypTrade, or receiving and holding Tokens. You bear the sole responsibility for determining or assessing the tax implications of your participation in the Crowdfunding, donations to the CrypTrade, or receiving and holding Tokens in all respects and in any relevant jurisdiction. By participating in the Crowdfunding, making donations, or receiving and holding Tokens, to the extent permitted by applicable law, you agree that no other party (including, without limitation any CrypTrade Party) may be held liable for any Loss arising out of, or in any way connected to, any tax liability you may incur in connection with your participation in the Crowdfunding, donations to the CrypTrade, or receiving and holding Tokens.

19 Privacy

19.1 Except as otherwise provided in these terms and conditions or on the Website, the CrypTrade will not publish any identifying information relating to you without your prior written consent.

19.2 Crowdfunders may be contacted by email by the CrypTrade regarding the Crowdfunding. Such emails will be informational only. The CrypTrade will never request any information from Crowdfunders in an email.

20 Intellectual Property

20.1 Unless otherwise stated, the content and information on the Website are the property of CrypTrade Parties or other parties. You may not download, reproduce, or retransmit any information, other than for non-commercial individual use. This Website is to be used by the Crowdfunders only. You, the Crowdfunder are granted a limited, non-transferable, revocable license to view and copy the information solely for personal use only, subject to clause 20.2.

20.2 All intellectual property rights comprised in the information, text, graphics, logos, images, audio clips, data compilations, scripts, software, technology, sound or any other materials or works found in the Website shall vest in and remain property of the CrypTrade. You are permitted to download and print such materials from the Website for personal and non-commercial use provided that you do not breach these terms and conditions.

21 Force majeure

No CrypTrade Party is liable in any way for failure to perform due to any Force Majeure Event. By participating in the Crowdfunding, making donations to the CrypTrade, or receiving and holding Tokens, to the extent permitted by applicable law, you agree that no other party (including, without limitation any CrypTrade Party) may be held liable for any Loss arising out of, or in any way connected to, any Force Majeure Event.

22 Complete agreement

22.1 These terms and conditions together with any terms and conditions published from time to time on the Website, set out the entire understanding between each Crowdfunder and the CrypTrade and any other CrypTrade Party in relation to your participation in the Crowdfunding, donations to the CrypTrade, or receiving and holding Tokens.

22.2 To the extent this document conflicts with the Website or any other document, including but not limited to the Whitepaper or the Development Plan, this document prevails.

22.3 To the extent that these terms and conditions, any terms and conditions published from time to time on the Website, the Whitepaper or Development Plan conflict with translated copies, the English version prevails

23 Severability

If any provision of these terms and conditions is found illegal or unenforceable, in whole or in part, such provision shall, as to such jurisdiction, be ineffective solely to the extent of such determination of invalidity or unenforceability without affecting the validity or enforceability thereof in any other manner or jurisdiction and without affecting the remaining provisions, which shall continue in full force and effect.

24 No waiver

The failure of the CrypTrade to require or enforce strict performance of any provision of these terms and conditions or the CrypTrade’s failure to exercise any right under these terms and conditions shall not be construed as a waiver or relinquishment of the CrypTrade’s right to assert or rely upon any such provision or right in that or any other instance. The express waiver by the CrypTrade of any provision, condition, or requirement of these terms and conditions shall not constitute a waiver of any future obligation to comply with such provision, condition or requirement. Except as expressly and specifically set out in this these terms and conditions, no representations, statements, consents, waivers, or other acts or omissions by the CrypTrade shall be deemed a modification of these terms and conditions or be legally binding.

25 Disclaimer of warranties

25.1 The Crowdfunder expressly agrees that the Crowdfunder is participating Crowdfunding, making donations to the CrypTrade, and receiving and holding Tokens at their own risk and that Tokens are provided on an “as is” basis without warranties of any kind, either express or implied, including, but not limited to, warranties of title or implied warranties, merchantability or fitness for a particular purpose (except only to the extent prohibited under applicable law).

25.2 Without limiting clause 30.1, the CrypTrade does not warrant that the process for participating in the Crowdfunding, making donations to the CrypTrade, or receiving and holding Tokens will be uninterrupted or error-free.

26 Exclusion of liability

No CrypTrade Party will be liable (whether in an action in negligence, contract or tort based on a warranty or otherwise) for any Loss even if the CrypTrade or its representatives, or any CrypTrade Party are advised of the possibility of such Loss, howsoever caused as a result, directly or indirectly, of or arising from or in connection with:
(a) your participation in the Crowdfunding, donations to the CrypTrade, receiving and holding Tokens;
(b) any access, the use of, or inability to access or use, the Website;
(c) your reliance on or use or inability to use the content and information of the Website or any linked website;
(d) any failure of performance, error, omission, interruption, defect, delay in operation or transmission, computer virus or line or system failure of the Website or any linked website;
(e) the cost of procurement of substitute goods and services resulting from any goods, data, information or services purchased or obtained or messages received or transactions entered into through or from the Website;
(f) unauthorised access to or alteration of your transmissions or data;
(g) statements or conduct of any third party on the Website; or
(h) any other matter relating to the Website.

27 Forward looking statements

27.1 The Whitepaper, Development Plan, Website and Business Outline may include forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as “believes,” “expects,” “does not expect,” “is expected,” “targets,” “outlook,” “plans,”, “eta”, “scheduled,” “estimates,” “forecasts,” “intends,” “anticipates” or “does not anticipate” or variations of such words and phrases or statements that certain actions, events or results “may,” “could,” “would,” “might” or “will” be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the CrypTrade to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Although the CrypTrade believes it has a reasonable basis for making these forward-looking statements, you must not place undue reliance on such forward-looking information. By its nature, forward-looking information involves numerous assumptions, inherent risks and uncertainties, both general and specific, which contribute to the possibility that the predictions, forecasts and other forward-looking statements will not occur.

27.2 By participating in the Crowdfunding, making donations to the CrypTrade, receiving and holding Tokens, or using the Website, you acknowledge and agree that you fully understand and accept the risks in clause 27.1, and to the extent permitted by applicable law, you agree that no other party (including, without limitation any CrypTrade Party) will be held liable for any Loss arising out of, or in any way connected with your participation in the Crowdfunding, donations to the CrypTrade, receiving or holding Tokens or use of the Website.

28 Acknowledgement

Use of website and receiving Tokens may carry financial risk. You acknowledge and agree that in no event shall any CrypTrade Party be liable or responsible for any Loss in any way arising out of your participation in the Crowdfunding, donations to the CrypTrade, receiving and holding Tokens, or use of the Website and all CrypTrade Parties are hereby released by the Crowdfunder from liability for any and all such Loss.

Definitions

Affiliate means in respect of a person (the First Person), any other person which directly or indirectly through one or more intermediaries:
(a) Controls the First Person;
(b) is Controlled by the First Person; or
(c) is under common Control with the First Person.

Bitcoin (BTC) means the digital currency and payment system using peer-to-peer transactions verified by network nodes and recording in a public distributed ledger called the blockchain.

Business Outline means the business outline as disclosed on the Website.

Closing Time means 00:00 UTC on 19 March 2017.
Commencement Time means UTC on 20 March 2018.

Control means, with respect to any person, the possession, directly or indirectly (including through any number of interposed persons), of the power to direct or cause the direction of the management and policies of such person, whether through the ownership of voting securities, by contract or otherwise and Controlled has a corresponding meaning.

ICO or Crowdfunding means the crowdfunding process contemplated by the Whitepaper by which the CrypTrade will receive donations for the development of application and software.

Crowdfunder means you and the legal or natural person participating in the Crowdfunding.

Crypto-token Technology means cryptographic tokens, crypto-currencies and/or blockchain-based software systems.

Development Plan means the development plan for ACE, Simple Wallet and ICO platform as disclosed on the Website.

Escrow Address means an address identified in the document entitled “TIME Escrow Arrangements” available on the Website.

Force Majeure Event means any event or circumstance which: (1) is not within the reasonable control of the CrypTrade, an Operator or any of their subcontractors; (2) directly or indirectly and alone or when taken together with any other such events, causes the CrypTrade or any Operator to fail to deliver CrypTrade or any aspect of CrypTrade; and (3) is not reasonably able to be prevented by the CrypTrade or any Operator taking reasonable precautions and cannot reasonably be circumvented by the CrypTrade or an Operator.

CrypTrade means the system described in the Whitepaper and the Development Plan to be developed and deployed by the CrypTrade with the assistance of one or more Operators engaged by the CrypTrade for that purpose.

CrypTrade Account means your user account with the CrypTrade for the purposes.

CrypTrade means “CrypTrade” being the foundation established under the laws of BVI and having as its registered office in BVI and includes an Operator engaged by CrypTrade where the context allows.

CrypTrade Party means the CrypTrade, any Operator, any of their Affiliates and any Related Party of the CrypTrade, any Operator or their Affiliates.

ACE token means the fundamental unit of value within CrypTrade.

Loss means damages, claims, applications, loss, injuries, delays, accidents, costs, business interruption, expenses (including, without limitation, counsel’s or legal fees or the costs of any claim or suit), any incidental, direct, indirect, general, special, punitive, exemplary, special or consequential damages, any loss of goodwill, profits or revenue or any other economic loss, any loss of cryptocurrency or digital assets, any work stoppage, data loss, computer failure or malfunction, or any other commercial or other loss.

Related Party means:
(a) directors or founders;
(b) spouses of directors or founders; and
(c) parents and children of either (a) and (b).
Token means the ACE token described in the Whitepaper.

UTC means Coordinated Universal Time.
Website means http://info@cryptrade.net and Crowdfunding site https://ico.acetoken.io and https://acetoken.io.

2017 Cryptrade .Ltd © All rights reserved

Terms and Conditions