Legal

Wikiwoop Legal Documentation

LAST UPDATED

Friday, May 24, 2024

Crypto Coins Policy

  1. Key Terms

      2. In Crypto Coins Policy (i) capitalised terms defined by inclusion in quotations and/or parenthesis have the meanings so ascribed; and (ii) the following terms have the meanings assigned to them herein below. Terms not defined in this Crypto Coins Policy shall have the same meaning as that defined in the Terms and Conditions and Refund, Return and Transaction Policy published on the Platform.

      1.1 “Address” means a string of characters that represents a wallet that can send and receive cryptocurrency;

      1.2 “Maximum Supply” means the maximum number of coins that will ever exist in the lifetime of the cryptocurrency. It is analogous to fully diluted shares in the stock market;

      1.3 “NFT” means a non-fungible token which is a type of cryptographic token that represents a unique asset. NFTs are tokenized versions of digital or real-world assets. They function as verifiable proofs of authenticity and ownership within a blockchain network. NFTs are not interchangeable with each other and introduce scarcity to the digital world;

      1.4 “Private Key” means a certain key phrase or number which allows users to sign transactions and to generate receiving Address; and

      1.5 “Smart Contract” means a piece of computer software that is designed as an automated self-enforcing contract, which means it triggers certain action after predetermined conditions are met.

  2. Disclaimer

      3. Please review your country’s existing laws and policy before using WooCoin. We will not hold any liabilities for your actions. You must read, understand, and agree to the terms and conditions of this Crypto Coins Policy. Although best efforts are made to ensure that all information is accurate and up to date, occasionally unintended errors and misprints may occur. Our content should only be used for information purposes, and not as a financial advice. Also, it is important to note that any investment may lead to losing your investment, either partially or fully. User may get less amount than the amount invested initially. The capital value of crypto assets may fluctuate, and the price of units can go down as well as up, and so is not guaranteed. The crypto assets market is not regulated. We will not hold any liability whatsoever on any losses that occur due to investment in WooCoin or any other cryptocurrency available on the Platform or relying on information shared across the physical as well as digital outlets.

  3. What is a CryptoCurrency?

      4. The term “cryptocurrency” has been derived from “the encryption techniques which are used to secure the network.” Cryptocurrencies are a form of digital assets which are based on a decentralized network which operates and is distributed over a dispersed number of nodes. The decentralize network comes from the block chain technology which refer to organizational methods or protocols which control transactional data and ensures the integrity of said transactions. Although receiving various criticisms, cryptocurrencies have taken the world by storm and are paving a new financial medium which is proving to be pervasive, secure, and scalable.

  4. Local Laws

      5. Please review your country’s existing laws and policy before using WooCoin. We will not hold any liabilities for your actions. Like any other cryptocurrency, WooCoin may-fluctuate hence the User will be solely and entirely liable for their decisions. Any and all disputes will be settled in Canada and as per the laws of Canada.

  5. Alternative Currency

      6. This Crypto Coins Policy only applies to WooCoin and not to any other cryptocurrency available on the Platform. Please refer to the terms and conditions of the other cryptocurrency providers prior to using, buying, or selling such cryptocurrencies from our Platform.

  6. Mining, Earning & Buying

      7. Fifteen percent (15%) of WooCoins are pre–mined. You shall have the option to earn when you perform various activities on the Platform including without limits, using our social media features, performing Transactions, etc. The earned can be converted into WooCoin, and it can be used to perform Transactions. User can also buy WooCoin and stak and/or holding the WooCoin.

  7. Wallets

      8. 7.1 - The Platform has cross wallet compatibility. You may utilize other third-party wallets to conduct Transactions. Please keep your password for the Account secure under all circumstances. In the event, you forget the password for the Account, it is your responsibility to remember the twelve (12) phrases required to recover the password in order to access the Account. If your access credentials are lost, you acknowledge that you may lose access to your Account, wallet, WooTokens, WooCoins and that the Company cannot recover them for you, as the Platform is decentralised and is in no way responsible for any such losses.

      7.2 - You shall receive your earned WooTokens and/or WooCoins on the wallet Address provided by you through the Platform. We shall not be responsible for any incorrect transmission of WooTokens and/or WooCoins to any incorrect Address provided by you under any circumstances.

  8. In Built Exchange

      9. The Platform has inbuilt cryptocurrency exchange and swapping system. The Users can exchange their rewards into WooCoin. Also, any kind of token that may be created on the wikiwoop network can be converted into WooCoin.

  9. Transaction Process

      10. A Private Key may be required for signing of the Transactions. The Private Key may also be needed for generation of a receiving Address when Users wish to conduct Transactions.

  10. Smart Contracts

      11. The Users may utilize blockchain based Smart Contracts for entering into a Relevant Agreement with each other. We shall not be a party to the Smart Contract based Relevant Agreement nor shall we be made a party to such contract. Code based Smart Contracts may be prone to errors and other deficiencies. The Users of the Platform hereby agree to conduct their due diligence and engage experienced professionals for entering into Smart Contracts.

  11. Cryptography

      12. Where applicable, we shall ensure adequate security measures, cryptography (if applicable) to ensure anonymity of the User in Transactions as much as reasonably possible. To know more about our privacy practises please refer to our Privacy Policy.

  12. WooCoin Supply

      13. WooCoin has a maximum supply capped at 100 billion (100,000,000,000) coins. You can review the WooCoin allocation here.

  13. NFT Sale & Purchase

      14. You may purchase or sell NFT’s utilizing the Platform subject to the laws applicable in your jurisdiction. In the event that you purchase or sell any assets on the Platform in contravention of the local or other laws applicable to your jurisdiction, we shall be protected by safe harbor regulations applicable to us as we solely act as an intermediary allowing Users to connect with each other as well as conduct Transactions for you on your behalf.

  14. Changes to this Crypto Coins Policy

      15. We may revise this Crypto Coins Policy from time to time, without prior notice. You are bound by any changes to this Crypto Coins Policy upon our posting of such changes on the Platform. You should check this Crypto Coins Policy often to make certain that you are aware of the most current Crypto Coins Policy.

    You acknowledge that you have read, understood, and accepted to be bound by this Crypto Coins Policy.

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