This document sets out the terms that apply when you (“User”, “you” or “your”) purchase or sell digital assets through the token.com platform (“Platform”).
1. WHO IS UAB BELELA?
1.1. The Platform is owned and operated by Token.com Limited, but services related to fiat and digital assets exchange are facilitated by UAB Belela, a company registered in Lithuania, with its address at Architektu g. 56-101 Vilnius, 04111 Lithuania, company code 305982313.
2. USE OF THE SERVICE
2.1. The platform is intended for all persons over 18 years of age. If you, as a parent or legal guardian, become aware that your child or ward under the age of 18 (eighteen) has access to the Platform and its resources, you must contact firstname.lastname@example.org and request the deletion of the corresponding registration data.
3.1. In order to access the resources made available through the Platform, the User must register directly on the Platform or perform integration through one of the platforms or social networks of third parties. The User is solely responsible for correctly filling in the requested data, as well as for keeping their registration information updated, failing which your account will be suspended or terminated and you will not be able to use the Platform.
3.2. The User must keep their login details and password confidential and must not share this with anyone. The User is responsible for the use, custody, maintenance and secrecy of their login details and password.
3.3. The User must change their login details and password when they become aware of any unauthorized use or any breach of security. The User must report any unauthorized use and/or breach of security regarding their login details and/or password within 48 (forty-eight) working hours of becoming aware of this.
3.4. UAB Belela may use, at its sole discretion, the data entered on the Platform, provided that the information is anonymised and does not allow the User to be identified directly or indirectly.
3.5. UAB Belela, at any time, may ask the User for documents proving that he/she is of the age declared at the time of registration. UAB Belela reserves the right to suspend and/or cancel the User's account if such documents are not sent within the stipulated period.
3.6. Each User may only have one account registered on the Platform. If UAB Belela identifies that an individual is responsible for more than one User registration, UAB Belela will keep only one of the Users active, canceling the other(s), always at its sole discretion.
3.7. At the end of the registration, the User expressly declares the veracity of all the information provided, and may be held civilly and criminally liable for fraudulent misrepresentation.
3.8. UAB Belela may also deny the User's registration, suspend or cancel, at any time, their login, if any information presented appears to be irregular, insufficient or false.
3.9. The User, when resident in Brazil, is also aware that Acesso Digital Tecnologia da Informação SA, a joint stock company headquartered at Praça General Gentil Falcão, n. 108, 10th floor, Bairro Cidade Monções, CEP: 04571-150, São Paulo/SP, registered with the CNPJ under n. 05.563.165/0001-95, the company responsible for verifying User data at the time of registration on the Platform, will receive and store personal and biometric data to promote greater security in the use of user’s identity and prevent misuse of the data. If you would like more information, visit: https://unico.io/privacidade-e-gestao-de-dados/.
3.10. The User may also be screened by other third parties such as SUM AND SUBSTANCE LTD, registered at 30 St. Mary Axe, London, EC3A 8BF, UNITED KINGDOM and SEON Technologies Kft., registered at Rákóczi út 42, 1072 Budapest, Hungary, and its affiliates.
4. SOLUTIONS OFFERED ON THE PLATFORM
4.1. UAB Belela, together with Token LImited, allows the User to access the Platform. Through UAB Belela, the User can acquire and/or monetize digital assets owned by you from the Platform, namely: (a) cryptocurrencies in general, in particular the so-called stablecoins; (b) non-fungible tokens (“NFT”); (c) tokens issued by decentralized finance protocols (Decentralized Finance or DeFi) available on the Platform (“Protocols”); and (d) other blockchain-based tokens (items (a) to (d) collectively referred to as the “Digital Assets”).
4.2. After registering on the Platform, the User will be able to access information on the Platform, including the list of Digital Assets available on the Platform, the User's participation rules relating to Digital Assets, availability of Digital Assets or the value of the Digital Assets held by it.
4.3. If you wish to transfer financial resources to your account and, in this way, access the solutions available on the Platform, the User may make a transfer via payment methods available on the Platform through UAB Belela, including credit and debit cards, bank transfers, electronic money wallets, PIX (for Users outside Brazil) or Paypal at the conversion rates for each Digital Asset, as set out in clause 5.1 below. UAB Belela may add or remove payment methods in its sole discretion.
4.4. The User understands and agrees that UAB Belela, at any time and in its sole discretion, may expand or reduce the number of Digital Assets made available through the Platform, as well as change the legal structure(s) relating to the Platform solutions that support such offers, so that it allows the User to achieve its objectives of acquisition and/or monetization of Digital Assets. In these cases, UAB Belela undertakes to communicate to the User effectively, clearly and objectively about the additions or changes made. In the event that the Digital Asset held by the User is no longer supported, UAB Belela will convert any such Digital Asset into another supported Digital Asset of UAB Belela choosing at the market rates. If this conversion is not possible, whether due to legal or regulatory restrictions, the lack of an available market, or otherwise, you may lose the value of such unsupported assets.
4.5. UAB Belela facilitates the buying and selling of Digital Assets on the Platform, which manages the payment process for acquiring assets at agreed-upon prices. The assets are held in custody and can be exchanged for FIAT currency using the agreed-upon payment method. UAB Belela will make available all proofs regarding the acquisition of Digital Assets.
4.6. The Platform is not part of the functioning and/or structuring of any Digital Asset, but rather provides an easy, agile and frictionless experience for Users to participate in DeFi, Web3 and tokenomics, either through: (a) acquisition of Digital Assets, including those issued by the Protocols; or (b) other legal-contractual formats that may allow Users to monetize their Digital Assets.
4.7. The Digital Assets owned by Users that are in the custody of UAB Belela will be stored securely in accordance with the information security policy, and the keys will be kept by UAB Belela, Token.com and/or another company of its economic group or its service provider.
4.8. In relation to the acquisition of Digital Assets, purchase and sale orders will be made primarily by Users directly on the Platform and must comply with the terms and conditions stipulated therein, and Users must pay attention to the conditions relating to fees, commissions and operational limits (if applicable), as made available on the Platform, from time to time. The User is aware that the conversion rate viewed by the User at the time of purchase or sale of Digital Assets may vary, and the effective rate of the transaction will be that of the moment in which the systems of UAB Belela identify the receipt of the amounts corresponding to each transaction. Any fluctuations in the price of Digital Assets will not be the responsibility of UAB Belela.
4.9. UAB Belela may display advertising to the User about Digital Assets on the Platform.
4.10. When the User makes a deposit, the User acknowledges that:
4.10.1. as the amounts deposited will be converted into Digital Assets, the value of the deposit will be subject to the variation of the price of the respective Digital Assets, with the risk that you may suffer a loss of value in the amounts deposited. In this case, the risks will be borne exclusively by the User, as UAB belela only provides the User with access to such Digital Assets and decentralized Protocols.
4.10.1.certain Digital Assets, whose value is stated to be linked to fiat currencies (stablecoins, for example, USD coin – “USDC”) may lack stability, their value may fluctuate above or below the linked fiat currency or asset and the link to the fiat currency / asset and their value is not guaranteed.
4.11. By participating in the Platform, the User declares that he is aware that UAB belela and the Platform do not have any control or influence over the rules and other terms and conditions linked to the Digital Assets and specific Protocols, including with regard to the governance of the Protocols made available on the Platform. The dynamics of the Protocols is explained in the FAQ sections of the Platform, and it is solely the User's responsibility to know each of the Digital Assets that you wish to acquire and Protocols in which you wish to participate.
4.13. The User acknowledges that the nature of the Protocols is the decentralization of decisions in the hands of the token (in especially the so-called governance tokens), so that the dynamics and operating rules are decided by such holders from time to time. This open and decentralized decision-making dynamic can lead to changes in the functioning and in a series of conditions different from those taken into account by the Users when they decided to participate in a certain Protocol. The custody of Digital Assets through UAB Belela does not allow participation in governance.
4.15. UAB Belela is not responsible for such decisions and/or changes in the Protocols, which are not under its control or influence and you understand that you are fully responsible for the decision to participate in one or more Protocols through the Platform.
4.16. The User further declares and acknowledges that there are risks associated with the acquisition of certain Digital Assets and access to Protocols, precisely as a result of future changes that are not under their control, control of UAB Belela or any of UAB Belela’s partners. The User acknowledges and accepts the risks related to Digital Assets and Protocols, and any changes to their governance and rules.
5. UAB Belela REMUNERATION
5.1. For the service of making Digital Assets available on the Platform, as well as maintaining an environment that allows their negotiation by Users, UAB Belela will charge the User a percentage of the value of the Digital Assets acquired by each User through the Platform, and such remuneration will be integrated into the conversion rate of the Digital Assets and will be retained in each of these transactions. The percentage charged is set out here.
6. LIMITATIONS AND MODIFICATIONS OF THE PLATFORM SERVICE
6.1. UAB Belela will use its best efforts to keep the Platform operational. However, certain technical difficulties, maintenance, updates or tests necessary to maintain proper functioning, implement new features or adapt to relevant changes in legislation may, from time to time, result in temporary interruptions to the Platform.
6.3. Despite the regular efforts of the UAB Belela and partner’s team to maintain the proper functioning of the Platform, UAB Belela cannot guarantee that the Platform will be free from errors or bugs and UAB Belela is also not responsible for any devices used to access or interact with the Platform.
7. COMMUNICATION BETWEEN USER AND UAB Belela
7.1. UAB Belela, together with Token.com Limited will provide customer support service to the User, through the e-mail address email@example.com to clarify any doubts about the operation of the Platform, as well as for the provision of technical support. UAB Belela will analyze the request made by the User and will provide an initial response (with an estimated time for resolving the problem) within 48 (forty-eight) business hours.
7.2. UAB Belela may contact the User by sending e-mails to the e-mail address registered on the Platform, telephone calls to the number registered on the Platform and/or sending notifications through the Platform itself.
7.3. It is the User's responsibility to keep their registration data updated, failing which you may not receive notifications or be contacted by UAB Belela.
7.4. UAB Belela is not responsible for problems with the email address provided by the User that make it impossible for the User to communicate with UAB Belela or to receive and/or send notices of any kind.
8. RULES OF CONDUCT
8.1. The Platform enables users to publish and/or send messages or disseminate content, and/or perform interactions with UAB Belela or with other Users. In such cases, you agree that such content or interactions may not:
(a) be defamatory, discriminatory, obscene, offensive, threatening, abusive, vexatious, harmful, contain expressions or incitement of hatred against certain people or groups, including on the basis of religion, race or sexual orientation, or incite moral or property damage;
(b) contain third-party copyright or content that, for any reason, infringes third-party rights;
(c) breach the privacy or the image rights of persons (including legal entities, entities and similar organizations);
(d) incite violence, criminality or any other type of offence; or
(e) be contrary to the law, good customs and public order.
8.2. In addition, the following actions are expressly prohibited:
(a) providing your login to access the Platform and/or allowing minors to access the Platform without the authorization of their parents and/or guardians;
(b) using the Platform to post or transmit a virus, worm, Trojan horse, easter egg, time bomb, spyware or other malicious computer code, file or program that is harmful or invasive or intended to damage, take control of the operation or monitor the use of any hardware, software or equipment, whether of UAB Belela, its business partners or third parties, or Users of the Platform;
(d) using the Platform to violate any legal rights of partners and/or third parties, obtaining or collecting any information, whether personally identifiable or not, whether from Users (or not), partners or service providers of UAB Belela;
(e) modifying, adapting, converting or reverse engineering, decompiling or disassembling any part of the Platform's source code, whether on its front-end or back-end;
(f) using the Platform to carry out any activity related to advertising or encouraging the consumption of services or products of any segment without the express written authorization of UAB Belela; and
(g) stating the existence of any affiliation with UAB Belela or the Platform or otherwise expressing opinions, endorsing or encouraging any practices, products or services on the Platform.
9. SYSTEM OR DATABASE BREACH
9.1. The User may not use any device, software, or other resource that may interfere, directly or indirectly, with the regular functioning of the Platform, its databases and servers.
9.2. If any type of fraud, artifice or other form of fraud is detected in the use of the Platform, UAB Belela may cancel the access of the User responsible or in any way involved.
10. LICENSE, CONTENT AND INTELLECTUAL PROPERTY RIGHTS
10.1. By registering on the Platform, UAB Belela grants the User a personal, revocable, limited, non-exclusive, non-transferable license to use the Platform for personal purposes.
10.2. UAB Belela respects the intellectual property rights of others and requires Users to do the same. All trademarks and distinctive signs of any kind present on the Platform belong to their respective right holders. For the use of any of these rights, the express and written authorization of their respective holders is required.
11.2. UAB Belela may, at any time, terminate the existing relationship with the User in the following cases:
(b) if UAB Belela is required to do so by law, court order, or determination of a competent government agency; and
(c) if UAB Belela decides to terminate the Platform, in whole or in part.
11.4. UAB Belela may, in its sole discretion and at any time, discontinue the availability of the Platform, including in cases where it deems it necessary for its legal security and/or for the security of third parties.
11.5. If the Platform is discontinued, in whole or in part, UAB Belela will not be obliged to maintain, provide, return or reimburse any kind of content, data or information passed on by Users.
12. DISCLAIMER OF WARRANTIES AND LIABILITY
12.1. UAB Belela will not be liable for indirect, incidental, special, punitive or consequential damages, loss of actual or anticipated profits, loss of data, moral or property damages.
12.3. UAB Belela will not be responsible for delays, failures, nor for the quality of services provided by any partners, service providers or any third parties.
12.5. For strictly technical and operational reasons, UAB Belela cannot guarantee the availability and continuity of operation of the Platform. UAB Belela may give advance notice of interruptions in the operation of the Platform, but it can never guarantee that its use will be uninterrupted, punctual, safe and error-free.
12.7. UAB Belela will not be responsible for any damage that may be suffered by the User due to the incompatibility of the Platform or UAB Belela’s services with User’s device or its operating system, insufficient memory, any failures related to User’s device's characteristics, functionalities or security flaws or User's electronic data. UAB Belela will not be responsible for any losses or damages that the User may experience as a result of the use of the Platform, defects and/or failures in the provision of partner/thirdparty services or any manifestations, guidelines or conduct of partners/third parties, nor does it guarantee that its Platform will function uninterruptedly and free from errors or viruses.
12.8. UAB Belela does not manage, own, control, or administer the Protocols and networks that govern the Protocols, any Digital Assets associated or not with such Protocols available on the Platform, or for the blockchains on which such Digital Assets operate. Accordingly, UAB Belela, its partners and service providers are not responsible for acts that are not their responsibility, including those related to the management, development, maintenance, operation, security or control of the Protocols, Digital Assets, networks, nodes, codes and any other open source elements that are used for the solutions available on the Platform.
13. USER’S RESPONSIBILITY FOR RISKS
13.1. UAB Belela only acts as a channel for Users to purchase Digital Assets and Protocols and, under no circumstances, manages Users' assets, analyses or makes suggestions to Users in relation to their assets. Users acknowledge and agree that you take full responsibility for understanding the risks inherent in dealing with Digital Assets and Protocols, you are aware of the potential instability in value of such assets and that their value may go up as well as down. You should not buy Digital Assets or Protocols unless you are prepared to sustain a total loss of the money you have invested, plus any commission or other transaction charges.
15. GENERAL PROVISIONS
15.1. The User must observe the technical specifications of the application that is part of the Platform and carry out the necessary updates on his smartphone or any other device used to access the Platform.
15.4. The User is responsible for obtaining access to the data network, which is necessary to use the services, as well as for paying the fees and charges charged by the network operator for the use of the data network..
15.8. For more information, please contact us at firstname.lastname@example.org.