Anchored Coins Token Terms
Version 0.1 - July 2023THE SERVICES (AS DEFINED BELOW) ARE NOT AVAILABLE TO PERSONS OR ENTITIES WHO RESIDE IN, ARE CITIZENS OF, ARE LOCATED IN, ARE INCORPORATED IN, HAVE REGISTERED OFFICE IN, OR ARE IN ANY OTHER WAY SUBJECT TO THE JURISDICTION OF A PROHIBITED JURISDICTION (AS DEFINED BELOW).
WE DO NOT MAKE ANY EXCEPTIONS – IF YOU ARE IN ANY WAY RESTRICTED FROM USING THE SERVICES, DO NOT ATTEMPT TO USE ANY OF THE SERVICES. THE USE OF A VPN OR ANY OTHER SIMILAR METHOD, DEVICE, OR TECHNOLOGY TO CIRCUMVENT THE RESTRICTIONS SET FORTH IN THESE TERMS IS STRICTLY PROHIBITED.
1 ScopeThese terms and conditions ("Terms") govern the following services (together the "Services") provided by Anchored Coins AG ("Anchored," "we," "our," or "us"): (i) the usage of the website https://www.anchoredcoins.com/en/landing and any affiliated sites, or applications on which a link to these Terms appears (together the "Website"), (ii) any blockchain-based stable coins issued by Anchored that reference these Terms (the "Tokens"), (iii) any other services provided by Anchored that reference these Terms. By accessing, using or otherwise interacting with any Services or by interacting with any Tokens in any way, you ("User", "you", "your", or "yours") accept these Terms, as amended from time to time. If you do not agree to these Terms, you shall not visit, use, or access any of the Services.
These Terms as well as any related information may be updated by Anchored from time to time. Changes to these Terms are effective when they are posted on this Website. The current version is published on the Website. Please check the Website regularly for updates.
2 InterpretationThe headings and sub-headings in these Terms are for ease of reference only and are not to be taken into account in the construction or interpretation of any provision or provisions to which they refer.
Unless otherwise specified in these Terms, words importing the singular include the plural and vice versa and words importing gender include all genders.
3 Token terms
3.1 Associated rights and formAnchored may issue Tokens denominated in different fiat or crypto currencies from time to time, as described in detail on the Website. Each Token represents a claim by the holder of the respective Token (the "Token Holder") against Anchored in the amount of one unit of the underlying currency (e.g., one Swiss Franc Token represents one Swiss Franc). The respective claims against Anchored are fully backed by an equivalent amount of assets held in reserve accounts with Swiss banks and are further guaranteed by one or more Swiss bank guarantees as made available on the Website from time to time. Anchored itself is a member of the Swiss self-regulatory organization VQF Verein zur Qualitätssicherung von Finanzdienstleistungen. For the avoidance of doubt, the claim represented by the Token does not bear any interest under any circumstances, including but not limited to any statutory late payment interest.
The Tokens (i) qualify as payment tokens under Swiss financial market regulations in accordance with the ICO and Stable Coin Guidelines of the Swiss Financial Market Supervisory Authorities (FINMA), (ii) are issued in accordance with article 973d ss. of the Swiss Code of Obligations ("CO"), and (iii) are governed by smart contracts (the "Smart Contracts") based on a different blockchains such as the Binance Smart Chain or the Ethereum Mainnet (the "Applicable Blockchain"). These Terms constitute the registration agreement with the Token Holder as per article 973d CO.
3.2 Functionalities of the Smart ContractsThe Smart Contract deployed by Anchored controls the following technical functionalities:
- Minting: The process of creating new Tokens. Anchored shall use this function in accordance with these Terms only.
- Burning: The process of destroying Tokens. Anchored is technically only able to destroy Tokens in its possession and shall use this function in accordance with these Terms only.
- Pause/unpause: ‘Pause’ prevents all transfers of Tokens until the ‘unpause’ function is called. Anchored shall use this function in exceptional circumstances only as reasonably determined in Anchored’s discretion (e.g., in case of a court order or a hard fork).
- Freeze/unfreeze: ‘Freeze’ prevents the transfers of Tokens held on a specific address until the ‘unfreeze’ function is called. Anchored shall only use this function if Anchored is compelled by a court, a regulator or other governmental authority of competent jurisdiction over Anchored or laws or regulations applicable on Anchored to freeze or unfreeze Tokens
3.3 Transfer of TokensThe Tokens are technically freely transferable in accordance with the rules of the Applicable Blockchain. Any action that technically transfers the direct or indirect power of disposal of the Tokens to the new Token Holder in accordance with the technical rules of the Applicable Blockchain constitutes a transfer. This may include, but is not limited to, transfers to a new address, the handover of a private key in the form of a paper wallet, or the change of ownership of a smart contract through which the Token is held.
In case of a technical transfer without a valid underlying legal cause (e.g., in case of theft), it is the prior Token Holder's sole responsibility to take appropriate legal action. Except in case of an enforceable judgment or clear evidence to the contrary, Anchored will treat the new Token Holder as the rightful beneficiary of the associated rights in accordance with art. 973e CO and the previous owner has no claim whatsoever against Anchored. Also, as per article 973e CO, the purchase of Tokens in good faith is protected, i.e., a buyer purchasing Tokens from a Token Holder that is not entitled to dispose over the Tokens nevertheless becomes the rightful owner of such Token, except in cases of bad intent or gross negligence.
Anchored does not charge any fees for any transfers of the Tokens by Users (except for issuance and redemption transactions). However, when transferring Tokens, other fees or charges such as gas fees of the Applicable Blockchain or other fees applied by third parties such as merchants and brokers may apply.
3.4 Issuance and redemption of TokensTo request an issuance or redemption, you must contact us through our Website.
Anchored may, in its sole discretion, elect to issue new Tokens to interested buyers upon request. Such purchases are subject to a separate purchase agreement with the interested buyer.
Any Token Holder may request the redemption of the Tokens against the underlying currency, subject to the full compliance with these Terms, applicable laws and the following conditions, including:
- Know-your-customer, anti-money laundering and counter-terrorist financing laws (KYC/AML/CTF): As a Swiss regulated financial intermediary, Anchored takes compliance very seriously and it is our policy to take all necessary steps to prohibit fraudulent transactions, report suspicious activities, and actively engage in the prevention of money laundering and any related acts that facilitate money laundering, terrorist financing or any other financial crimes. Any User that requests an issuance or redemption must meet the eligibility requirements (as defined below), must not be from a Prohibited Jurisdiction or a Restricted Person, and is required to conduct a complete and successful onboarding in accordance with Anchored's KYC/AML/CTF requirements, sanctions compliance and risk country list. You agree, represent, and warrant that you are the beneficial owner of all funds provided by you, and that all funds provided by you are not the direct or indirect proceeds of any criminal or fraudulent activity.
- Redemption amount and fees: Anchored offers a free of charge redemption for any redemption request above CHF 250’000. Anchored may, in the future, introduce a redemption fee whereas such redemption fee shall under no circumstances exceed 5% of the redemption amount. For any redemption request below CHF 250’000, Anchored may require the payment of a redemption fee in its reasonable discretion.
3.5 Bank Guarantee & proof of fundsAnchored is obliged from a Swiss regulatory perspective to at all times maintain a default guarantee by a Swiss regulated bank in the full amount of the outstanding Tokens. The available default guarantees, including trigger events and redemption process (the "Bank Guarantees") as well as the guaranteed amount are published and regularly updated on the Website. The total guaranteed amount as published on the Website is based on Anchored’s account balance on its reserve accounts with the guaranteeing banks and updated by the bank(s) via a direct interface. As such, the guaranteed amount and the funds held by Anchored in the reserve account match at all times (please note that there may be a time lag for the reporting of the guaranteed amounts on the Website of up to three business days). Also, the total number of Tokens outstanding may never exceed the guaranteed amount. Anchored further obtains and publishes regular audit reports confirming the guaranteed amount and the funds in the reserve accounts.
In case of bankruptcy of Anchored (as defined in the respective Bank Guarantee), the Tokens can be redeemed directly with the Swiss bank(s) guaranteeing the Token in accordance with the terms of the respective Bank Guarantee within 360 calendar days after the opening of bankruptcy proceedings against Anchored. In order to facilitate the redemption process, Anchored has, under its business continuity and disaster recovery policies, made arrangements for a third-party service provider to process all redemption claims in case of a bankruptcy event.
3.6 Use of Tokens as collateralThe registration of Tokens as collateral in accordance with article 973g section 1 number 1 CO is technically not supported by the Smart Contracts. The legally valid establishment of a collateral on a Token therefore requires the transfer of the Token, either to the beneficiary or to a smart contract that supports the establishment of collateral.
3.7 Loss of TokensLost Tokens can be declared invalid by a judge and replaced with new Tokens in accordance with the procedure laid out in article 973h CO. Accordingly, the beneficiary of lost Tokens may demand the competent court at the seat of Anchored to cancel the respective Token, provided that the beneficiary furnishes credible evidence of its original power of disposal and of the loss thereof. The cancellation procedure according to article 982 – 986 CO applies mutatis mutandis, except that only one public notice for presentation of the Token in the Swiss Official Gazette of Commerce is required, and the time limit (waiting period) is at least one month after the public notice. Invalid Tokens remain in the Smart Contract but do not allow redemption anymore. Anchored will inform about invalid tokens on the Website. Anyone regaining control over lost tokens is required to return them to Anchored or burn them. The process described in this section is the sole process to recover lost Tokens and Anchored assumes no liability or responsibility whatsoever for any lost Tokens.
3.8 Hard forksIn case of a controversial split of the Applicable Blockchain (hard fork), Anchored decides, in its own discretion, which version of the Applicable Blockchain will be considered to hold the real Tokens and communicates this decision on the Website. Anchored assumes no liability or responsibility whatsoever for any losses or other issues that might arise from Anchored electing to support or not support a particular blockchain or protocol, any forked version of any particular blockchain or protocol or any Tokens resulting from a fork of a blockchain or protocol.
3.9 Limitation of liabilityUnless explicitly stated otherwise and except in cases where such exclusion is not permitted under applicable law (such as in cases of wilful misconduct and gross negligence, or for incorrect or misleading statements relating to the content and functionality of the Tokens), all representations and warranties with regard to the Tokens, the Smart Contracts and the Applicable Blockchain and any liability by Anchored or any person acting on behalf of Anchored with regard thereto are herewith excluded.
4 Prohibited uses, eligibility & restrictions
Prohibited JurisdictionsTHE PROHIBITED JURISDICTIONS INCLUDE, BUT ARE NOT LIMITED TO, THE UNITED STATES OF AMERICA, BELARUS, BURUNDI, BURMA (MYANMAR), CENTRAL AFRICAN REPUBLIC, CONGO, DEMOCRATIC REP., DEMOCRATIC PEOPLE’S REPUBLIC OF KOREA (DPRK), GUINEA, GUINEA BISSAU, HAITI, IRAN, IRAQ, JEMEN, LEBANON, LIBYA, MALI, NICARAGUA, SOMALIA, SUDAN, REPUBLIC OF SOUTH SUDAN, SYRIA, VENEZUELA AND ZIMBABWE.
The access and usage of the Services is prohibited for Users who reside in, are located in, are a citizen of, are incorporated in, have registered office in, or are in any other way subject to the jurisdiction of (i) the United States of America, (ii) a country or territory (together, "Prohibited Jurisdictions") that is currently the subject of any sanctions or trade embargos administered or imposed by (1) Switzerland, (2) the United Nations Security Council, (3) the European Union or any member state of the European Union, (4) U.S. authorities, in particular the U.S. Office of Foreign Assets Control (“OFAC”) and the U.S. Department of State, (5) the country of residence of the User, or (6) other economic sanctions or trade embargos issued by another authority having jurisdiction over the User or his/her/its assets, (iii) a jurisdiction identified by the Financial Action Task Force ("FATF") for strategic AML/CFT deficiencies and included in FATF’s listing High-Risk Jurisdictions, (iv) a jurisdiction (including, but not limited to, the Sanctioned Countries) in which the use of the Services is prohibited, restricted or unauthorised in any form or manner whether in full or in part under the laws, regulatory requirements or rules in such jurisdiction ((i) to (iv) together the "Prohibited Jurisdictions").
Eligibility and Restricted PersonsThe Services are only offered to persons that are at least 18 years old.
The Services are subject to economic sanctions programs administered in the countries where we conduct business, including but not limited to those administered by the Swiss State Secretariat for Economic Affairs SECO, pursuant to which we are prohibited from providing the Services or entering into relationships with, directly or indirectly, certain individuals and institutions. By using the Services, you represent that your actions are not in violation of such sanctions programs ("Restricted Persons").
Prohibited usesIn addition to other restrictions set forth in these Terms, you are expressly restricted from all of the following except explicitly agreed otherwise with us:
- Unlawful Activity: Activity which would violate, or assist in violation of, any domestic or international law, statute, ordinance, or regulation, sanctions programs administered in any relevant country, or which would involve proceeds of any unlawful activity; publish, distribute or disseminate any unlawful material or information.
- Abuse Other Users: Interfere with another individual's or entity's access to or use of the Services; defame, abuse, extort, harass, stalk, threaten or otherwise violate or infringe the legal rights (such as, but not limited to, rights of privacy, publicity and intellectual property) of others; incite, threaten, facilitate, promote, or encourage hate, racial intolerance, or violent acts against others; harvest or otherwise collect information from the Services about others, including without limitation email addresses, without necessary and sufficient consent.
- Intellectual Property Infringement: Engage in activities or transactions involving that may infringe or violate any copyright, trademark, right of publicity or privacy or any other proprietary right under the law.
- Illegal Source of Funds: Using or accessing the Services to transmit or exchange funds that are the direct or indirect proceeds of any criminal or fraudulent activity, including but not limited to terrorism or tax evasion.
- Other Prohibited Activities: Furthermore, you confirm that you may not:
- Attempt to disable or circumvent any security or access control mechanism of the Services, where applicable;
- Design cheats, exploits, hacks, modes, or any other unauthorized third-party software to modify or interfere with the Services, with the exception of automation software and bots, provided that such automation software and bots operate in the ordinary course of using the Services and do not cause disruption or harm to the Services;
- Impersonate another user or otherwise misrepresent yourself;
- Take any action that imposes an unreasonable or disproportionately large load on our infrastructure; or detrimentally interfere with, intercept, or expropriate any system, data, or information;
- Induce or encourage any third party to engage in any conduct prohibited by these Terms;
- Try to decompile or reverse engineer the Services or any part of it, or derive the source code;
- Copy, modify, distribute, reproduce, translate, disassemble or use in any other way any information, text, graphics, images, software obtained from the Services, or any other part of the Services;
- Create derivative works based on the whole or any part of the Services or any content available on the Services;
- Sell, sublicense, allow access, or make the Services or any part of it otherwise available to third-parties.
- Exploit the Services, any part of it, or any content contained there in any data mining or any other similar activity.
5 Risk disclosure
5.1 General risksPurchasing Tokens does not offer an opportunity for capital gains or any other investment purpose. On the contrary, the Tokens entail the possibility of a complete loss of capital. This document does not represent any solicitation for the purchase or sale of Tokens. Instead, each purchaser is requested to engage in his own independent research and make his own decisions with respect to the purchase of Tokens. lt is assumed that prospective Users, to the extent necessary, consult a Blockchain expert, lawyer, accountant, and/or tax professional to evaluate the risks entailed.
The risks described herein are not the only risks that come into question and are by no means intended to represent a comprehensive list. Potential purchasers should be aware that buying Tokens may also be exposed to other risks of another nature. The order in which the individual risks were chosen to be presented does not provide any indication of the probability of occurrence or the seriousness or importance of the individual risks or their impact in the event that they occur. Additional risks that are not business-specific and that are not yet currently known to Anchored or that Anchored does not currently deem to be relevant may likewise have an impact.
Prospective Users should ensure that they fully understand the nature of the Tokens and the extent of their exposure to risks and they should consider the suitability of the Tokens as a means of payment in the light of their own circumstances.
The Tokens involve a high degree of risk, including the potential risk of being worthless or losing their peg to the underlying currency. Potential buyers should be prepared in certain circumstances to sustain a total loss of the capital used to purchase Tokens.
5.2 Regulatory riskThe blockchain technology allows new forms of interaction and it is possible that certain jurisdictions will apply existing regulations on or introduce new regulations addressing blockchain technology-based applications which may be contrary to the current setup of the Tokens. This may, inter alia, result in substantial modifications of the Tokens including their loss.
5.3 Operational and IT risksThe smart-contract concept on which the Tokens are built and the blockchain technology in general are still in an early development stage and unproven, hence there is no warranty that the process of creating, receiving, holding, using, and storing Token will be uninterrupted or error-free and there is an inherent risk that the software could contain weaknesses, vulnerabilities or bugs causing, inter alia, the complete loss of Token. Furthermore, it is possible that the smart contract or blockchain technology is subject to hacking attacks and other unexpected activities which could result in the theft or loss of Token. Moreover, the underlying protocol may be subject to future changes and unforeseen problems which can affect the proper functioning of the smart-contract and cannot be influenced by Anchored.
In particular, blockchains are susceptible to mining attacks, including but not limited to double spend attacks, majority mining power attacks, "selfish-mining" attacks, timestamp manipulation, and race condition attacks. Any successful attacks present a risk to the Token, expected proper execution and sequencing of transactions in Token, and expected proper execution and sequencing of contract computations and may result in the loss of Token.
In some applications, it may be desirable to use a smart contract to autonomously manage Token. Depending on the precise implementation, this could lead to a situation where a malicious claim on the Token held by the contract address cannot be cleared by the rightful owner. The lssuer cannot be held liable for loss of tokens resulting from incompatible implementation of third-party smart contracts.
Positions in Token of Anchored and Related PartiesUsers of the Token should be aware that Anchored, its affiliates and third parties with which Anchored maintains legal relationships may acquire, dispose of and/or hold Token for purposes such as to facilitate issuance and redemption of Token, to manage Token as a treasury position, and/or to trade Token. Such positions in Token may lead to a conflict of interest between Users and Anchored.
Loss of Bank GuaranteeThe underlying currency may be lost and, while the claim against Anchored is guaranteed by a Swiss bank in case of bankruptcy of Anchored , such guarantee may be held to be invalid or the guaranteeing bank itself may not have sufficient funds for repayment.
Loss of KeysTokens may be lost or become inaccessible in particular if the holder of Tokens loses the respective private key to their Tokens or due to malfunctioning or incompatibilities of the wallet in which the Tokens are stored. This could also lead to the loss of the Token. Moreover, it is the responsibility of the User not to lose the key or password that allows access to the wallet.
5.4 Risks related to business operationsThere are risks related to a failure of Anchored to comply with applicable law, rules and regulations or a change in law, rules, or regulations regardless of the nature of the issuing authority. The most significant areas of legislation and regulation for Anchored refer especially, but not only, to the financial market and personal data protection.
5.5 Risks related to the prohibition of distribution and dissemination in Prohibited JurisdictionsThe distribution or dissemination of the Token or any part thereof may be prohibited or restricted by the laws, rules, and regulations of any jurisdiction. In case any restriction applies, each User is responsible to inform themselves about, and to observe, any restriction which is applicable to the User's possession of the Token at its own expenses and without liability to Anchored. Persons to whom a copy of these Token Terms have been distributed or disseminated, provided access to or who otherwise have these Token Terms in their possession shall neither circulate it to any other persons, reproduce or otherwise distribute these Token Terms or any information contained herein for any purpose whatsoever nor permit or cause the same to occur.
5.6 "Security" under U.S. Federal Securities Laws and EU Regulation or in other jurisdictionsAnchored does not assess nor classify the Token towards US or EU laws or any other jurisdiction. Resale of the Token happens at the sole risk of the seller.
5.7 Risks related to catastrophic eventsThe Token could be negatively affected in several ways by various catastrophic events and disasters including terrorist acts, acts of war, armed conflicts, widespread outbreaks of infectious disease, major natural disasters (such as earthquakes, hurricanes, tornados, flooding), and other events (such as power loss, loss of water supply, internet and telecommunications failures, cyber-crimes, fire, chemical and biological release).
5.8 Risks related to hard forksA fork happens when a blockchain is irrecoverably split into two separate blockchains that have a common past. In such cases, issuers of tokens must specify which of the two chains is the binding one and there may be confusion about who owns which tokens, in particular, when the software and services used to interact with the blockchain follow the "wrong" chain. Forks pose extraordinary risks, therefore Anchored recommends refraining from transacting with the blockchain while a fork is in progress.
5.9 Risks related to dissolutionlt is possible that, due to any reason, including, but not limited to, an unfavorable fluctuation in the value of cryptographic currencies, the inability of Anchored to establish the Token's utility, the failure of commercial relationships, legal and regulatory reasons, or intellectual property ownership challenges, Anchored may no longer be viable to operate thus may dissolve or take actions that result in a dissolution of the token.
5.10 Cautionary note on forward-looking statementsThe risk disclaimers in these Token Terms may contain forward-looking statements including, but not limited to, statements as to future operating results and plans that involve risks and uncertainties. Words such as "expects", "anticipates", "believes", "estimates", the negative of these terms and similar expressions identify forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the tokens to differ materially from any future results, performance or achievements expressed or implied by those projected in the forward-looking statements for any reason.
6 User’s warranties and indemnityYou warrant
- that, if you are an individual user, you are 18 years of age or older and that you have the capacity to contract under applicable laws;
- that, if you are registering to use the Services on behalf of a legal entity, (i) such legal entity is duly organized and validly existing under the applicable laws of the jurisdiction of its organization, and (ii) you are duly authorized by such a legal entity to act on its behalf;
- that you are not a Restricted Person or subject to the jurisdiction of a Prohibited Jurisdiction;
- that you understand the risks associated with using the Services, that you are not prohibited or restricted from using the Services, and that you are not otherwise prohibited by applicable laws from using the Services;
- that you will not use any Services in order to conceal or disguise the origin or nature of proceeds of crime or terrorist financing, or blocked property, frozen assets, economic resources, or corruption related to any person or government official under any applicable laws, or to further any breach of applicable AML Laws or CTF Laws, or to deal in any unlawful Tokens, fiat, property, funds, or proceeds;
- that you are currently in compliance with, and must, at your own cost and expense, comply with all laws that relate to or affect the Services conducted under these Terms;
- that neither you nor any of your affiliates shall use any Tokens, fiat, property, proceeds or funds subject to the Services directly or indirectly (i) on behalf of or for the benefit of a Restricted Person or any person subject to the jurisdiction of a Prohibited Jurisdiction; (ii) in violation of or as prohibited, restricted, or penalized under applicable sanctions laws; or (iii) in any way that would violate, be inconsistent with, penalized under, or cause the omission of filing of any report required under applicable AML/ CTF laws, or sanctions laws;
- that you have not (i) violated; (ii) been fined, debarred, sanctioned, the subject of sanctions-related restrictions, or otherwise penalized under; (iii) received any oral or written notice from any government concerning actual or possible violation by you under; or (iv) received any other report that you are the subject or target of sanctions, restrictions, penalties, or enforcement action or investigation under, any applicable laws, including applicable AML/ CTF laws, or sanctions laws.
7 Anchored exclusion of warranty and liabilityYou expressly understand and agree that you use the Services at your own risk. Anchored MAKES NO AND EXPRESSLY DISCLAIMS ALL REPRESENTATIONS AND WARRANTIES, EXPRESS, IMPLIED, OR STATUTORY, AND WITH RESPECT TO THE SERVICES AND THE TOKEN. Anchored SPECIFICALLY DOES NOT REPRESENT AND WARRANT AND EXPRESSLY DISCLAIMS ANY REPRESENTATION OR WARRANTY, EXPRESS, IMPLIED, OR STATUTORY, INCLUDING WITHOUT LIMITATION, ANY REPRESENTATIONS OR WARRANTIES OF TITLE, NONINFRINGEMENT, MERCHANTABILITY, USAGE, SECURITY, VALUE, SUITABILITY, OR FITNESS FOR ANY PARTICULAR PURPOSE, OR AS TO THE ABSENCE OF ANY DEFECTS IN THE SERVICES AND THE TOKENS. Anchored DOES NOT REPRESENT OR WARRANT THAT THE SERVICES AND ANY RELATED INFORMATION ARE ACCURATE, COMPLETE, RELIABLE, CURRENT, OR ERROR-FREE. Anchored FURTHER EXPRESSLY DISCLAIMS ALL REPRESENTATIONS AND WARRANTIES REGARDING ANY THIRD-PARTY TECHNOLOGY, INCLUDING ALL BLOCKCHAIN INFRASTRUCTURE AND DAPPS, WHICH MAY BE USED BY THE USER IN CONNECTION WITH THE USE OF THE SERVICES.
Anchored FURTHERMORE DOES NOT REPRESENT AND WARRANT AND EXPRESSLY DISCLAIMS ANY REPRESENTATION OR WARRANTY, EXPRESS, IMPLIED, OR STATUTORY THAT THE SERVICES WILL REMAIN AVAILABLE IN ANY JURISDICTION WHERE THEY ARE CURRENTLY AVAILABLE AND DO NOT REPRESENT AND WARRANT THAT THE COMPANY CAN GUARANTEE THE LEGALITY OF THE SERVICES IN ANY SPECIFIC JURISDICTION.
Anchored is solely liable to the User for damages resulting from Anchored's gross negligence or wilful misconduct. In all other cases, Anchored's liability in relation to the Services is excluded to the maximum extent permitted under applicable law. In any case, the User may recover from Anchored, regardless of the legal reason, any amount with respect to loss of profit, data, or goodwill, or any consequential, incidental, indirect, punitive, or special damages in connection with claims arising out of the Terms or otherwise relating to the Services, whether or not the likelihood of such loss or damage was contemplated. Anchored is not liable for inaccuracy or incompleteness of the Services, or the incompatibility of the Services with any specific objectives that User is hoping to achieve.
Anchored (or any related bank, depository or service provider) is not responsible for damages caused by delay or failure to perform undertakings under these Terms when the delay or failure is due to fires; strikes or labor disputes; riots; embargoes; pandemics and related lockdowns; floods; bank failures; token market collapse or fluctuations; power outages or failures; lawful acts of public authorities; any and all market movements, shifts, or volatility; computer, server, or internet malfunctions; internet disruptions, viruses, and mechanical, power, or communications failures; security breaches or cyber attacks; criminal acts; delays or defaults caused by common carriers; acts or omissions of third parties; or, any other delays, defaults, failures or interruptions that cannot reasonably be foreseen or provided against or that are otherwise outside Anchored’s control (force majeure).
In the event of force majeure, Anchored is excused from any and all performance obligations and these Terms of Service shall be fully and conclusively at an end.
8 Intellectual Property RightsAnchored retains all rights, titles, and interests to its own intellectual property, including all copyrights, inventions, trademarks, designs, domain names, know-how, trade secrets, data and other intangible property rights related to the Service ("Intellectual Property Rights").
Anchored grants the User a limited, revocable, non-exclusive, non-transferable, non-sublicensable right to access and use the Services in accordance with these Terms.
The Services may contain open-source components. Such components are subject to the respective license.
The User authorizes Anchored to use, process, and store relevant data for the performance of the Services and to use anonymized data to improve its services or for analysis purposes.
10 General provisionsNo set-off: The right of the User to set-off any claims of any nature against Anchored is excluded.
No advice: We do not offer or exercise any investment advice or advise on trading strategies, including techniques, models, algorithms, or any other schemes.
No offer: Unless explicitly stated otherwise on the Website, any reference to goods and services is for informational purposes only and does not constitute an offer to buy or sell any goods or services.
Assignment and transfer of rights: Except as explicitly outlined otherwise herein, you may not assign any rights, obligations or agreement that is subject to these Terms, including the rights, duties, and obligations outlined herein, without obtaining prior written consent from us. However, we have the freedom to assign any rights and obligations subject to these Terms, including the rights, duties, and obligations contained herein, without providing notice or obtaining your consent.
Severability: Should any part or provision of these Terms be held to be invalid by any competent court, governmental or administrative authority having jurisdiction, the other provisions of these terms shall nonetheless remain valid. In this case, Anchored shall dictate a substitute provision that best reflects the economic intentions without being unenforceable and shall execute all agreements and documents required in this connection. The same shall apply if and to the extent that these Terms are found to contain any gaps or omissions.
Governing law & jurisdiction: These Terms, and all claims or causes of action that may be based upon, arise out of or relate to these Terms shall be governed by and construed in accordance with the substantive laws of Switzerland, excluding its conflict of law provisions and the United Nations Convention on Contracts for the International Sale of Goods (CISG). All disputes arising out of or in connection with the present Terms, including disputes on its conclusion, binding effect, amendment, and termination, shall be resolved by the ordinary courts in Zug, Switzerland.