Terms and Conditions

Legal terms, January 13, 2021

The following Terms and Conditions (“Terms”) govern your (“you” or the “Purchaser”) purchase of cryptographic tokens (“10set”) from Tenset LTD, a private limited company registered in the UK, 148 Ibsley Gardens London SW15 4NG (the “Company”). Each of you and the Company is a “Party” and, together, the “Parties” to these Terms. This document is not a solicitation for investment and does not pertain in any way to an offering of securities in any jurisdiction. This document describes the 10set token sale.

IF YOU DO NOT AGREE TO THESE TERMS, DO NOT PURCHASE 10set FROM THE COMPANY. BY PURCHASING 10set FROM THE COMPANY, YOU WILL BE BOUND BY THESE TERMS AND ANY TERMS INCORPORATED BY REFERENCE. IF YOU HAVE ANY QUESTIONS REGARDING THESE TERMS, PLEASE CONTACT THE COMPANY AT MARKETING@TENSET.IO .

By purchasing 10set, and to the extent permitted by law, you are agreeing not to hold any of the Company and its respective past, present and future employees, officers, directors, contractors, consultants, equity holders, suppliers, vendors, service providers, parent companies, subsidiaries, affiliates, agents, representatives, predecessors, successors and assigns (the “Tenset Team”) liable for any losses or any special, incidental, or consequential damages arising from, or in any way connected, to the sale of 10set, including losses associated with the terms set forth below.

DO NOT PURCHASE 10set token IF YOU ARE NOT AN EXPERT IN DEALING WITH CRYPTOGRAPHIC TOKENS AND BLOCKCHAIN-BASED SOFTWARE SYSTEMS. PRIOR TO PURCHASING 10set, YOU SHOULD CAREFULLY CONSIDER THE TERMS LISTED BELOW AND, TO THE EXTENT NECESSARY, CONSULT AN APPROPRIATE LAWYER, ACCOUNTANT, OR TAX PROFESSIONAL. IF ANY OF THE FOLLOWING TERMS ARE UNACCEPTABLE TO YOU, YOU SHOULD NOT PURCHASE 10set.

PURCHASES OF 10set SHOULD BE UNDERTAKEN ONLY BY INDIVIDUALS, ENTITIES, OR COMPANIES THAT HAVE SIGNIFICANT EXPERIENCE WITH, AND UNDERSTANDING OF, THE USAGE AND INTRICACIES OF CRYPTOGRAPHIC TOKENS, INCLUDING ETHEREUM TOKENS, AND BLOCKCHAIN BASED SOFTWARE SYSTEMS. PURCHASERS SHOULD HAVE A FUNCTIONAL UNDERSTANDING OF STORAGE AND TRANSMISSION MECHANISMS ASSOCIATED WITH OTHER CRYPTOGRAPHIC TOKENS. WHILE THE COMPANY WILL BE AVAILABLE TO ASSIST PURCHASERS OF 10set DURING THE SALE, THE COMPANY WILL NOT BE RESPONSIBLE IN ANY WAY FOR LOSS OF BTC, ETH OR 10set RESULTING FROM ACTIONS TAKEN BY, OR OMITTED BY PURCHASERS. IF YOU DO NOT HAVE SUCH EXPERIENCE OR EXPERTISE, THEN YOU SHOULD NOT PURCHASE 10set OR PARTICIPATE IN THE SALE OF TENSET. YOUR PARTICIPATION IN TENSET SALE IS DEEMED TO BE YOUR UNDERTAKING THAT YOU SATISFY THE REQUIREMENTS MENTIONED IN THIS PARAGRAPH.

PURCHASER AGREES TO BUY, AND COMPANY AGREES TO SELL, THE 10set TOKENS IN ACCORDANCE WITH THE FOLLOWING TERMS:

#1 The conditions of the 10set token sale

YOU MAY NOT MAKE A ACQUIRE A 10SET TOKEN IF YOU ARE A CITIZEN, RESIDENT (TAX OR OTHERWISE) OR GREEN CARD HOLDER OF THE UNITED STATES OF AMERICA, OR OTHER COUNTRIES WHERE THE CRYPTOCURRENCIES ARE PROHIBITED BY LAW.

#2 The Company Will Not Purchase 10set token During the TENSET Sale

The Company warrants that neither it nor its shareholders will purchase 10set during the Tenset sale. Furthermore, the Company warrants that neither it nor its shareholders will purchase 10set from any third party during the period of the 10set sale.

#3 All purchases of 10set are final

ALL PURCHASES OF 10set ARE FINAL. PURCHASES OF 10set ARE NON- REFUNDABLE. BY PURCHASING 10set, THE PURCHASER ACKNOWLEDGES THAT NEITHER THE COMPANY NOR ANY OF ITS AFFILIATES, DIRECTORS OR SHAREHOLDERS ARE REQUIRED TO PROVIDE A REFUND FOR ANY REASON.

#4 Disclaimer of Warranties

THE PURCHASER EXPRESSLY AGREES THAT THE PURCHASER IS PURCHASING 10set AT THE PURCHASER’S SOLE RISK AND THAT 10set IS 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 WITH ANY LEGALLY REQUIRED WARRANTY PERIOD TO THE SHORTER OF THIRTY DAYS FROM FIRST USE OR THE MINIMUM PERIOD REQUIRED). WITHOUT LIMITING THE FOREGOING, NONE OF THE TENSET TEAM WARRANTS THAT THE PROCESS FOR PURCHASING 10set WILL BE UNINTERRUPTED OR ERROR-FREE.

#5 Risk of Uninsured Losses

Unlike bank accounts or accounts at some other financial institutions, Tenset is uninsured unless you specifically obtain private insurance to insure them. Thus, in the event of loss or loss of utility value, there is no public insurer or private insurance arranged by Company, to offer recourse to you.

#6 Risk of Losing Access to Tenset cold wallets Due to Loss of Private Key(s), Custodial Error or Purchaser Error

 A private key, or a combination of private keys, is necessary to control and dispose of 10set stored in your digital wallet or vault. Accordingly, loss of requisite private key(s) associated with your digital wallet or vault storing 10set will result in loss of such 10set. Moreover, any third party that gains access to such private key(s), including by gaining access to login credentials of a hosted wallet service you use, may be able to misappropriate your 10set. Any errors or malfunctions caused by or otherwise related to the digital wallet or vault you choose to receive and store 10set in, including your own failure to properly maintain or use such digital wallet or vault, may also result in the loss of your 10set. Additionally, your failure to follow precisely the procedures set forth in for buying and receiving Tokens, including, for instance, if you provide the wrong address for the receiving 10set, or provides an address that is not ERC-20 compatible, may result in the loss of your Tokens.

#7 Risks Associated with the Ethereum Protocol

Because 10set and the TENSET platform are based on the Ethereum protocol, any malfunction, breakdown or abandonment of the Ethereum protocol may have a material adverse effect on the platform or 10set. Moreover, advances in cryptography, or technical advances such as the development of quantum computing, could present risks to the 10set and the platform, including the utility of the 10set for obtaining services, by rendering ineffective the cryptographic consensus mechanism that underpins the Ethereum protocol.

#8 Risk of Mining Attacks

As with other decentralized cryptographic tokens based on the Ethereum protocol, 10set are susceptible to attacks by miners in the course of validating 10set transactions on the Ethereum blockchain, including, but not limited, to double-spend attacks, majority mining power attacks, and selfish-mining attacks. Any successful attacks present a risk to the platform and 10set, including, but not limited to, accurate execution and recording of transactions involving 10set.

#9 Risk of Hacking and Security Weaknesses

Hackers or other malicious groups or organizations may attempt to interfere with the platform or 10set in a variety of ways, including, but not limited to, malware attacks, denial of service attacks, consensus-based attacks, Sybil attacks, smurfing, and spoofing. Furthermore, because the platform is based on open-source software, there is a risk that a third party or a member of the Company team may intentionally or unintentionally introduce weaknesses into the core infrastructure of the platform, which could negatively affect the platform and 10set, including the utility of 10set for obtaining services.

THE PURCHASER EXPRESSLY AGREES THAT THE PURCHASER IS PURCHASING 10set AT THE PURCHASER’S SOLE RISK AND THAT 10set IS 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 WITH ANY LEGALLY REQUIRED WARRANTY PERIOD TO THE SHORTER OF THIRTY DAYS FROM FIRST USE OR THE MINIMUM PERIOD REQUIRED). WITHOUT LIMITING THE FOREGOING, NONE OF THE TENSET TEAM WARRANTS THAT THE PROCESS FOR PURCHASING 10set WILL BE UNINTERRUPTED OR ERROR-FREE.

 

TENSET INVESTMENTS RISKS:

By purchasing, owning, and using 10set, you expressly acknowledge and assume the following risks:

#1 Risk of Losing Access to 10set Due to Loss of Private Key(s), Custodial Error or Purchaser Error

A private key, or a combination of private keys, is necessary to control and dispose of 10set stored in your digital wallet or vault. Accordingly, loss of requisite private key(s) associated with your digital wallet or vault storing 10set will result in loss of such 10set. Moreover, any third party that gains access to such private key(s), including by gaining access to login credentials of a hosted wallet service you use, may be able to misappropriate your 10set. Any errors or malfunctions caused by or otherwise related to the digital wallet or vault you choose to receive and store 10set in, including your own failure to properly maintain or use such digital wallet or vault, may also result in the loss of your 10set. Additionally, your failure to follow precisely the procedures set forth in for buying and receiving Tokens, including, for instance, if you provide the wrong address for the receiving 10set, or provides an address that is not ERC-20 compatible, may result in the loss of your Tokens.

#2 Risks Associated with the Ethereum Protocol

Because 10set and the 10set platform are based on the Ethereum protocol, any malfunction, breakdown or abandonment of the Ethereum protocol may have a material adverse effect on the platform or 10set. Moreover, advances in cryptography, or technical advances such as the development of quantum computing, could present risks to the 10set and the platform, including the utility of the 10set for obtaining services, by rendering ineffective the cryptographic consensus mechanism that underpins the Ethereum protocol.

#3 Risk of Mining Attacks

As with other decentralized cryptographic tokens based on the Ethereum protocol, 10set are susceptible to attacks by miners in the course of validating 10set transactions on the Ethereum blockchain, including, but not limited, to double-spend attacks, majority mining power attacks, and selfish-mining attacks. Any successful attacks present a risk to the platform and 10set, including, but not limited to, accurate execution and recording of transactions involving 10set.

#4  Risk of Hacking and Security Weaknesses

Hackers or other malicious groups or organizations may attempt to interfere with the platform or 10set in a variety of ways, including, but not limited to, malware attacks, denial of service attacks, consensus-based attacks, Sybil attacks, smurfing, and spoofing. Furthermore, because the platform is based on open-source software, there is a risk that a third party or a member of the Company team may intentionally or unintentionally introduce weaknesses into the core infrastructure of the platform, which could negatively affect the platform and 10set, including the utility of 10set for obtaining services.

#5 Risks Associated with Markets for 10set

If secondary trading of Tokens is facilitated by third-party exchanges, such exchanges may be relatively new and subject to little or no regulatory oversight, making them more susceptible to fraud or manipulation. Furthermore, to the extent that third-parties do ascribe an external exchange value to 10set (e.g., as denominated in a digital or fiat currency), such value may be extremely volatile.

#6 Risk of Uninsured Losses

Unlike bank accounts or accounts at some other financial institutions, 10set are uninsured unless you specifically obtain private insurance to insure them. Thus, in the event of loss or loss of utility value, there is no public insurer or private insurance arranged by Company, to offer recourse to you.

#7 Risks Associated with Uncertain Regulations and Enforcement Actions

The regulatory status of 10set and distributed ledger technology is unclear or unsettled in many jurisdictions. It is difficult to predict how or whether regulatory agencies may apply existing regulation with respect to such technology and its applications, including the TENSET platform and 10set. It is likewise difficult to predict how or whether legislatures or regulatory agencies may implement changes to law and regulation affecting distributed ledger technology and its applications, including the platform and 10set. Regulatory actions could negatively impact the platform and 10set in various ways, including, for purposes of illustration only, through a determination that the purchase, sale and delivery of 10set constitute unlawful activity or that 10set is a regulated instrument that requires registration or licensing of those instruments or some or all of the parties involved in the purchase, sale and delivery thereof. The Company may cease operations in a jurisdiction in the event that regulatory actions, or changes to law or regulation, make it illegal to operate in such jurisdiction, or commercially undesirable to obtain the necessary regulatory approval(s) to operate in such jurisdiction.

#8 Risks Arising from Taxation

The tax characterization of 10set is uncertain. You must seek your own tax advice in connection with purchasing 10set, which may result in adverse tax consequences to you, including withholding taxes, income taxes and tax reporting requirements.

#9 Risk of Competing platforms

It is possible that alternative platforms could be established that utilize the same open-source code and protocol underlying the platform and attempt to facilitate services that are materially similar to the TENSET  services.

#10 Risks Arising from Lack of Governance Rights

Because 10set confer no governance rights of any kind with respect to the TENSET platform or the Company, all decisions involving the Company’s products or services within the platform or the Company itself will be made by the Company at its sole discretion. These decisions could adversely affect the platform and the utility of any 10set you own, including their utility for obtaining services.

#11 Unanticipated Risks

Cryptographic tokens such as 10set are new and untested technology. In addition to the risks included in this Annex A of these Terms, there are other risks associated with your purchase, possession and use of 10set, including unanticipated risks. Such risks may further materialize as unanticipated variations or combinations of the risks discussed in this Annex A of these Terms. Further Information

For further information regarding the 10set sale, please contact marketing@tenset.io