TokenBacon Documentation

A Complete User's Guide to TokenBacon


Finder recently commissioned a survey of 2,001 American adults to gain insight into what the nation thinks of cryptocurrency. Surprisingly, only 7.95% of American adults report actually purchasing a cryptocurrency.

% purchasing a cryptocurrency

If so many people are talking about crypto, why has not everyone bought it yet?

Of those who have not purchased crypto, 7.76% say they have plans to purchase crypto in the future. The reason from 40.01% of those who have not yet purchased crypto is because they are disinterested or they think there is no need. This 40.01% represents more than 90 million Americans. The 35.02% of people say that the risk is too high. The 27.04% find it too difficult to use and 17.97% think it is a scam.

% purchasing a cryptocurrency

So we put forward the slogan "Make the blockchain simple". Our aim is to make blockchains easy for everyone. The following document details how we implement the concept of - making blockchains simple.

    Welcome to TokenBacon's blockchain world! Like Bitcoin, the first step is to learn how to use a token wallet. The innovation of TokenBacon has greatly reduced the barriers of wallet usage in blockchains. We replaced the previously anonymous base-58 addresses with emails, phone numbers and financial institution IDs. TokenBacon Multi-Tokens Wallet is based on Bacon chain. It supports cross-chain architecture, multiple tokens, and provides users with the most efficient token movement and storage. Multi-Tokens Wallet is energy efficiency, much safer, and performs better than other token wallets.

    Before using Multi-Tokens Wallet, you need to prepare follows:

    • Connected personal phones, PADs, or computers - Multi-Tokens Wallet is based on Bacon chain and requires a networked hardware connection to be used.
    • Email Mailbox - The email address will be your wallet address. It is recommended to create a new email address for a variety of token wallets. A variety of token wallets use a one-time password. Each time you open the wallet, you need to receive a one-time password in the email mailbox. Then you enter the one-time password to open the wallet. We strongly recommend using Gmail with its fast speed and good security.
    • Mobile number (Level 2; option; not yet open) - In addition to identity verification, it also acts as a secondary certification to secure the wallet.
    • Personal ID certificate (Level 3; Option; not yet open) - Personal identification of the individual, such as the passport, personal identification card and latest utility bill.
    • Bank account (Level 3+; option; not yet open) - If the wallet service has a cooperative service to the financial institution, you will need to go to the financial institution personally to open the level 3+ wallet and complete the financial level KYC certification.
    Apply / Open Token Wallet

    We simplified the use of the wallet as "Email + One-Time Password". Users do not need to memorize the password, worry about forgetting, and stolen the password. The process of the first time user is the same as the one already owning the wallet. You just enter your email to open your wallet. If your email has never been used in a wallet, the system will automatically create a new wallet for you.

    • Step 1 - Enter your email, click the "Open Wallet" button and we will send you a one-time password.
      send one time password
    • Step 2 - Check your email and enter your one-time password.
      input one time password
    • Step 3 - Successfully open your wallet.
      open wallet
    Token Wallet Interface Introduction

    The wallet interface presented here is based on a personal computer (PC). If you use a mobile phone or other mobile device, there may be differences in the layout of the interface.

    • Wallet address information
      • 1 - Wallet base-58 address
      • 2 - Wallet Email Address
      • 3 - Wallet Address QR Code
      wallet interface
    • Token List
      • 1 - token icon
      • 2 - token name
      • 3 - token symbol
      • 4 - Number of tokens
      • 5 - Token price; current prices are all denominated in US dollars.
      • 6 - Send button; if the send button is locked and cannot be sent, it means that the token is writing to the smart contract. For more information of smart contracts, please read. Smart Contract.
      list
    • Token Delivery Record
      • 1 Send time; time is marked as UTC.
      • 2 The receipt address; the receipt address is the base-58 address.
      • 3 token symbol
      • 4 Number of tokens sent
      • 5 Fee; By sending the toke, system will charge 0.1% of the sending token at sender's cost (as Gas).
      sent record
    • Token Receipt Record
      • 1 - Send time; time is marked as UTC.
      • 2 - The currency address; the currency address is the base-58 address.
      • 3 - Token symbol.
      • 4 - The number of tokens received.
      • 5 - Fee; By sending the token, system will charge 0.1% of the sending token at sender's cost (as Gas).
      received record
    How to Send Tokens

    The sending token system will charge 0.1% of the outside sending token at sender's cost (as Gas). The purpose of Gas is to serve as a node cost while avoiding program loop attacks. For example: If you want to send 1 BAK to your friends, your wallet must have 1.001 BAK. Of these, 0.001 BAK will be used as Gas.

    Please note! If your wallet does not have enough Gas, you will not be able to send tokens. You can reduce the number of tokens sent or increase the amount of tokens in the wallet to complete the token delivery.

    • 1 - Send token name
    • 2 - Wallet base-58 address
    • 3 - Receive token address ¡X can be an email mailbox or a base-58 address.
    • 4 - Number of tokens sent
    • 5 - Send Button
    • send
    How to receive tokens

    The token wallet will provide the instant email and instant message notification when the token is received to ensure the security of the cryptocurrency.

    Current tokens supported by the wallet

    As new tokens continue to be added, the information of tokens currently supported by Bacon wallet can be obtained on the Swap platform. We will continue to add new tokens to make TokenBacon more powerful. You are welcome to use all of our token services.

    Token In - It means that the token enters Bacon chain from the public chain. Token Out - It means that the token moves from Bacon chain to the public chain.

    Bacon chain supports cross-chain links. Technically, Bacon chain is an independent side chain shared between multiple blockchains. As the result of sharing the different blockchains, the common sidechains can be cross-operated. The virtual tokens of the public chain (such as Bitcoin and Ether ETC20) are free to enter and exit Bacon chain, so that it can work separately from any encryption system, making the various tokens truly practical.

    Token In
    Steps for token input
    • Step 1 - Open Your Wallet.
      wallet button
    • Step 2 - Click on the "Token Input" button above.
      token in
    • Step 3 - Select the token you need to enter and copy the receipt wallet address. If it is bitcoin, the wallet address display format is as follows: 1F1tAaz5x1HUXrCNLbtMDqcw6o5GNn4xqX...
      wallet address
    • Step 4 - or click QR Code button and use QR Code APP to scan the pop-up QR Code for the receipt wallet address.
      QR Code
    • Step 5 - Use your public chain wallet to transfer the token to the coin-collecting wallet address obtained above. Your Bacon chain wallet will display the tokens received and complete the token input after several minutes to several hours depending on the transfer speed of the public chains.
    Token input fee

    The cost of sending the token from the public chain wallet to Bacon chain wallet is the mining fee or Gas collected by the public chain, which is not related to Bacon chain.

    Note!

    The wallet address of the token entering Bacon chain from the public chain is the public chain address, which means that we cannot prohibit the cross-chain entry of the token. So before entering the token by using TokenBacon, please pay attention to the laws and anti-money laundering regulations in your area. We will retain the blocking power of the token for non-compliant users or tokens that enter Bacon chain across the chain. Do not enter Bacon chain wallet for a small amount of tokens (close to the miners' fees or gas bills) to avoid your loss.

    Token Out
    Steps for token output
    • Step 1 - Open Your Wallet.
      wallet button
    • Step 2 - Click on the "Token Out" button above.
      token out
    • Step 3 - Select the token you want to export and click the "Send" button on the right.
      send
    • Step 4 - Enter the number of tokens and the public chain wallet address of the receipt. Click the "Confirm" button below. Your public chain wallet will display the tokens received and complete the token output after several minutes to several hours depending on the transfer speed of the public chains.
      confirm
    Token output fee

    Bacon chain will charge a 0.1% fee (Bacon coin), which will be charged in the equivalent of 0.1% of the export token. So please confirm that there are enough bacon coins before the token is exported.

    document.#

    Tokens are separated by a chain of links. Please pay attention and comply with the laws and anti-money laundering (AML/CFT) regulations in your region. For non-compliant users or tokens, we reserve the rights to ban on output of tokens and comply with the authority.

    Social Cloud Mining provides a platform for community owners (mine owners) and miners to create a win-win situation. Social Cloud Mining uses Bacon chain and the world's first Proof of Social Work (PoSW) to engage each community participant in the shared mining of the community to achieve multi-stakeholder participation.

    Miner

    Why Social Cloud Mining?

    Social Cloud Mining is a community-centric digital coin mining. You can join a designated official community, such as Twitter, FB, Telegram or Line, to join the free community mining and earn free digital currency.

    • Easy to join - The world's first decentralized membership concept. Social media community participants are both members and miners. You can join a designated community of official community, such as Twitter, FB, Telegram or Line, for free community mining.
    • Instantly get the token - The mine-derived token is instantly credited to Bacon chain wallet. Bacon chain wallet uses Email instead of the anonymous encrypted private key, which can be easily transferred, exchanged and used in other applications.
    • Proof of the Token - Use the Proof of Stake (PoS) to obtain the mining weight based on the amount and timing of the Bacon token. It allows the community participants to maintain the stability of the token.
    • Affiliate - As long as you use the sharing method to promote the mining activity information, you will get a certain percentage of mining weighted dividends during mining process.
    Mining steps
    • Step 1 - Join the mining activity. Just enter your wallet to start your mining. If your email has never been used in a wallet, the system will automatically create a new wallet for you and start your mining.
      log in
    • Step 2 - Mining begins. Mining does not need on line all the time. You can close the program after log in mining and let the cloud mining platform help you mining to the end of the event.
      mining
    • Step 3 - Task bonus. The task specified to complete is Proof-of-Work (PoW). Completion can increase the weight of the mining (combat power) and dig more tokens.
      social media
    • Step 4 - Community bonus. Joining a designated community is Proof-of-social-Work (PosW). Completion can increase the weight of the mining (combat power) and dig more tokens.
      wallet button

    Mine owner

    Host mining activities
    • Step 1 - Host mining optimization. Log in to become the mine owner who is hosting the mining, and the login action only needs to be done once.
      log in
    • Step 2 - Set the mining activity.
      mining seting
    • Step 3 - The token is issued for authorization.
      token
    • Step 4 - Make a link.
      link

Bacon chain’s Token Swap Network (TSN) is a point-to-point (P2P) token trading system for swapping cryptocurrencies and smart contracts. Unlike buying and selling, it is a process by which a token is converted for another token at an estimated rate. Token swap will only take place when an order matches the other. It is a matching platform that allows individuals to swap their tokens freely in the market with no involvement in buying/selling activities. The Token Swap Network includes the following services: market, place order, my order, history, and value.

  1. MARKET, allows you to reference all types of tokens in the market and its market trends.
  2. PLACE ORDER, is where you place an order for token swaps.
  3. MY ORDER, is where you view all the order that you have placed.
  4. HISTORY, is to check all records in the market.
  5. VALUE, shows all coins/tokens within a-twenty-four hour market change.
Steps for placing an order for token swap
  1. Step 1 – Open your wallet with e-mail address.
    wallet
  2. Step 2 – Click on the “SWAP” button above.
    swap
  3. Step 3 – Click the “PLACE ORDER” on the top.
    swap
  4. Step 4 – Placing an order
    1. 4-1: Chose a token to swap out.
    2. 4-2: Insert the quantity you want to swap for.
    3. 4-3: Select the token you want to swap, and the system will automatically convert the number of tokens exchanged according to the current market, then click “ORDER NOW!”
    Chose a token to swap out
    *Note: You may click “MY ORDER” to review each order that has been placed. After each successful swap, you may find all records under the “HISTORY”.
Tips for a quick swap
  1. Step 1- When login, click on the “MARKET”.
    1. 1-1: Select a token to swap with.
    2. 1-2: Select a token to receive
    SWAP MARKET
  2. Step 2: Choose an order and click “SWAP”. It will jump to the order page with a fix number from the order you selected, then click “SWAP” to complete the swap.
    SWAP MARKET
How to cancel my order?

You may cancel any order under “MY ORDER”. Click “CANCEL ORDER” to cancel your order.

SWAP MARKET
*Note: You cannot cancel your order after the order has been swapped.
Token swap fee

After completing the swap, Token Swap Network charges a 0.5% fee of tokens (tokens that you selected to swap out) and a 0.1% fee of handling charge within the bacon chain service. So please ensure that there are enough tokens in your bacon wallet before each order is placed. The swap fees will charge against both maker and taker.

Applied Smart Contract is still in development.

    Base on the enterprise’s point of view, blockchain not only becomes an advantage for technology development, but also allows enterprises to reduce the cost tremendously. However on the application point of view, many issues remain when they apply the blockchain into their business model. It is mainly due to the following reasons:

    • Low efficiency (Transaction time and mining fees)
    • Higher standards
    • Lack of compatibility and scalability
    • Impossible to reach supervision requirements (financially or KYC)
    • Lack of application on business services
    Solutions

    Companies and financial institutions are searching of ways to integrate blockchain into businesses. However, the lack of compatibility and scalability of Bitcoin or Ethereum blockchain and the interchangeable security issue are insufficient to meet the needs on enterprises and financial institutions. In addition, the trading speed limitation and rising transaction costs (mining fees) make it almost impossible in the business world.

    Our solution of Bacon chain is a privileged ledger in the private chain that performs a cross chain platform between public side chains and API cloud for physical and digital tokens.

    send
    Bacon Chain

    The structure of Bacon Chain is as below:

    send
    The Core of Bacon Chain

    Bacon chain is a core for privileged ledger in the private chain.

    send
    The Bridge (The public side change)

    The Bridge can be seen as a side chain that shared among multiple blockchains to perform token exchange by cross-linking between the main chains and Bacon chain. As a result, it crosses various blockchains and cross-operates on common sidechains. Tokens in the public chain, such as Bitcoin and ERC20, are free to enter and exit Bacon chain. It works independently on any encrypted system which allows Bacon chain to be widely open through the use of its features.

    send
    API Cloud

    RESTful Web API services; Getting the ideal flexibility, API allows enterprise applications to connect to the chain via Bacon chain SDK API. It also makes it easy for developer to use. Blockchain specialty and resources will not be needed in creating their own protocols.

    Bacon chain supports APIs that includes Wallet creation, Balance, Transaction, ID address, Token-in and out, and more to be released. TokenBacon also encourages anyone to think mostly about the API that they wish to have.

    send
    The Hook

    Bacon chain utilizes a two-way linking with Ethereum to upload the data of ledger to Ether smart contract, to ensure unforgeable ledgers, and to solve the issues of being untrusted.

    Every transaction in the block of Bacon chain will be submitted to the block of Ethereum that contains an instant cumulative hash value. Through this process, only one package is sent to Ether block on every 5-10 minutes (the sending time will be adjusted based on the actual data), despite hundreds of thousands of transactions per second occurs in Bacon chain. Bacon chain ensured the confirmation on real-time transaction with the lowest transaction fee on every package that is sent in every 5-10 minutes. Ether block chain has ensured the irreversibility of the ledgers in the block of Bacon chain.

    • Requirements
    • The process takes every 5-10 minutes and uses of BAK to define the asset and the rules on gateway; the sending time will be adjusted according to the actual data.
    • Estimation of the Mining Fees Certification
    • If the estimation of Ether block is sent every 10 minutes, Bacon chain will assign no more than 4,320 transactions on average per month to the block at the maximum authentication rate (a Hook per blocks). Regardless of the number of transactions processed, a total of approximately $4465.6 per month is spent (Max Gas Price 60 GWei, 1 gas = 0.00000006 * 30,000 * 600 = 1.08, US$1.08 per times, valid through March 2018).
    • Allocation of the Rights
    • Establish a record of Hooks in the gateway rules. The data record JSON format can be as followings:
        [{
            "subjects": [
                { "addresses": [ "<gateway>" ] }
            ],
            "account permissions": {
                "affectright": "Permit",
                "spend": "Permit",
                "modify": "Permit",
                "create": "Permit"
            }
        }]
        }
    
    The Vault

    After the chain interconnects and performs token exchange between the main chain and Bacon chain, the token is either stored or removed on the main chain.

    The Gate

    The gate is used as an investigation on customer KYC. It is impossible to conduct transaction verification through an unknown third party such as Bitcoin miners in banks and financial institutions. Therefore, the accounts on the public blockchain cannot be integrated into regulatory requirements and become trusted and credible accounts.

    Throughout the transaction process, Bacon chain provides the custom account’s control and privacy to resolve the problems for assets and enterprise applications. The transparency, the level of security, and the trust of Bacon chain creates a better functionality on the public chains. Besides these features, it also supports the transactions on the traditional assets with multiple institutions, which so-called the inter-transactions among companies or market trades.

    • Allocation on KYC Procedure
      • 1. During the registration process that users enter from the outside, the enterprise manages the ledger and associates its identity with the public key.
      • 2. Only registered user who matches the public key can send funds.
      • 3. Funds are only allowed to registered users.
    • Steps for User Creation
    • User creates an username and a password, enters his/her email, and submits proof of identity such as passport.
    • Permission on creating
      • 1. Once the company has verified the user's identity, an account is created in association with his/her ID and the public key.
      • 2. Records, that create this permission, must be signed with an administrator key.
    • Capital Account with Credit
      • 1. An initial credit line is created by the Department of Finance. Then, users can purchase tokens externally by using dynamic payment methods.
      • 2. The transaction can be signed by the administrator.
    • Handling Procedures on Loss or Stolen Key
    • All privileged users must pass the authentication process settings:
      • 1. When the user loses the private key, he or she should report to the administrator. The company will first perform an identity check and the user will be asked to generate a new key.
      • 2. The administrator updates the address of new record corresponding to the new key.
    • If a fraud is found in the transaction, the administrator can perform a proxy operation and reverse the transfer of this transaction.
    Other Characteristics in Bacon chain

    The blockchain has the following commercial characteristics:

    • Openness
    • Bacon chain allows all public tokens to trans-pass in and out by supporting most of the public blockchain as the side chain connection. It works independently on any encrypted systems through an established bidirectional crosslinks.
    • Flexibility
    • Bacon chain has enough flexibility to be used by various businesses. It is customizable in accordance to business models.
    • Safety
    • Bacon chain uses a system of digital signature for each asset transaction. The distribution operation of digital asset maintains full control over these verifications and provides security by using encrypted insurance of transactions with unique transparency. It simplifies the process through trust-based consensus and verification of real-time transaction.
    • Privacy
    • Bacon chain supports the level of privacy transaction and the network transparency.
    • Energy Saving
    • Bacon chain completely abandoned those who criticized on mining by zero consumption on electricity.
    • Practical
    • The transaction is confirmed in seconds in Bacon chain. In contrary the specification of Bitcoin block size limits the maximum transaction per second that can be processed. As for Ethereum that has no restriction set to the user, several applications such as popular game are flowing around in the blockchain, causing a slow transaction and a high cost of handling fee in Bitcoin and Ether blockchain.
    • Currently, Bitcoin claims the maximum speed is 7 transactions per second. In fact, it is only 3 to 4 transactions per second; Ethereum's trading speed is approximately 20 transactions per second (ETHNews, 2016).
    • By comparison, PayPal processed 6.1 billion data in 2016, which averaged in 193 transactions per second (PayPal can handle 450 transactions per second on Cyber Monday). Visa's VisaNet handles an average of 150 million transactions per day and about 1,667 transactions per second (MyBroadband, 2016. Visa said VisaNet can hold more than 56,000 messages per second).
    • Delay on transaction causes a slow pace in trading on Bitcoin and Ethereum blockchain. But through Bacon chain, it allows transaction to attach directly to the network chain, which no longer grouped in blocks. Once submitted to the network, the transaction is linked to the side chain with real-time confirmation.
    • By applying the above, Bacon chain handles more than 10,000 messages per second. While through the use of peer-to-peer (P2P), the authentication of transaction is decentralized to prevent the failure of transactions to any centralized institutions such as banks, Visa, and PayPal.
    • Overall, Bacon chain combines the advantages of decentralized blockchain with quick commercial payments. It can meet the demand in the reality of business around the world.

    Transaction Bitcoin Ethereum PayPal Visa Bacon Chain
    In seconds 7 20 450 5,600 10,000

GitHub: baconchain-api

    Effective on April 5, 2018

    Thank you for using Tokenbacon's APIs, other developer services, and associated software (collectively, "APIs"). By using or accessing our APIs, you agree to become bound by all the terms below. If you do not agree to all the terms, do not use the APIs. If there is a conflict between these terms and additional terms applicable to a given API, the additional terms will control for that conflict. Collectively, we refer to the terms below, any additional terms, terms within the accompanying API documentation, and any applicable policies and guidelines as the "Terms". Tokenbacon reserves the right, at its discretion, to modify these API Terms of Use at any time by posting revised API Terms of Use. The APIs are accessed by You (“Client”, including, but not limited to, “customer”, “user”, “you” or “your”) under the following Terms and conditions:

    Hayek CO., Ltd. is a company registered in Republic of Seychelles with registration number 199498 and registered office at Suite 1, Commercial House One, Eden Island, Republic of Seychelles (“Tokenbacon”, “Company”, “we”, “our” or “us”).

    1. Accepting the Terms

    1.1 You may not use the APIs and may not accept the Terms if (a) you are not over the legal age of 20 to form a binding contract with Tokenbacon, or (b) you are a person barred from using or receiving the APIs under the applicable laws including the country in which you are resident or from which you use the APIs.

    1.2 If you are using the APIs on behalf of an entity, you represent and warrant that you have authority to bind that entity to the Terms and by accepting the Terms, you are doing so on behalf of that entity (and all references to "you" in the Terms refer to that entity).

    2. Definitions

    2.1 Application: any software application, website, or product you create or service you offer using the APIs.

    2.2 Data: any data and content uploaded, posted, transmitted or otherwise made available by you via the Service(s), including messages, files, comments, profile information and anything else entered or uploaded into the Service(s) by you of the Service(s).

    2.3 Tokenbacon Brand: the Tokenbacon brand and brand assets, including but not limited to names, logos, trade names and trademarks.

    2.4 Website: https://tokenbacenton.com/ and ​all ​subdomains ​and ​all ​their ​respective ​pages.

    2.5 Service(s): Tokenbacon’s blockchain-cloud Service(s), Website, archiving and related systems and technologies, and all software, Applications, Data, reports, text, images, and other content made available by or on behalf of Tokenbacon through any of the foregoing. The “Service(s)” does not include Data or any software Application or Service(s) that is provided by you or a third party (including Applications), whether or not Tokenbacon designates them as “official integrations”.

    2.6 Terms: all the terms including but not limited to Terms of Use, API Terms of Use, and Privacy Policy available on Website.

    3. Access to the APIs

    3.1 To begin using the APIs, you must sign-up to Tokenbacon and register your Application and following the instructions provided on our Website. Both the Application registration and your member account must contain accurate and up-to-date information at all times, including your current title, company, and e-mail address.

    3.2 You agree that we can use, store, and share information submitted by you to Tokenbacon in connection with your Application to contact you, for attribution purposes, handling inquiries from you about your Application, for other purposes under these Terms (for example, we may email you with updates regarding changes), and as otherwise permitted in our Privacy Policy. You acknowledge that if you share the contact information of your employees or independent contractors with us, we may contact them in accordance with these Terms.

    4. APIs License and Restrictions

    4.1 Subject to Terms, you may access and be granted a limited, non-exclusive, non-assignable, non-transferable license to use the APIs to develop, test, and support any software Application, Website, or product, and to integrate the APIs with your Application, and distribute Tokenbacon Data to end users for their personal use via your Application.

    4.2 This license is subject to the following restrictions:

    • 4.2.1 You will post a Privacy Policy regarding the use of nonpublic end user data (including such Tokenbacon Data), and you will treat the Tokenbacon Data consistent with that policy. You will only retrieve Tokenbacon Data about a Tokenbacon end user as requested by the end user. You will inform the end user about any Tokenbacon Data you will store, and you will store the Tokenbacon Data in a country (or countries) identified in your Privacy Policy.
    • 4.2.2 You will require your end users to comply with (and not knowingly enable them to violate) applicable law, regulation, and the Terms.
    • 4.2.3 You will comply with all applicable law, regulation, and third party rights (including without limitation to laws regarding the import or export of data or software, privacy, and local laws). You will not use the APIs to encourage or promote any illegal activity or violation of third party rights. You will not violate any other Terms of Use with Tokenbacon (or its affiliates).
    • 4.2.4 Tokenbacon sets and enforces limits or forbids on your use of the APIs in our sole discretion. You agree to, and will not attempt to circumvent, such limitations documented with each API. If you would like to use any API beyond these limits, you must obtain Tokenbacon express consent (and we may decline such request or condition acceptance on your agreement to additional Terms and/or charges for that use).
    • 4.2.5 The Terms are non-exclusive. You acknowledge that Tokenbacon may develop products or Service(s) that may compete with the API Clients.
    • 4.2.6 You agree that you will provide the Tokenbacon Data to end users on "as is" terms, with disclaimers substantially equivalent to those set forth in this API Terms of Use.
    • 4.2.7 You agree to keep your API key confidential, and not to share it with any third party. This license is personal to you and specific to your Application. You agree that you will be personally responsible for the use of your API key.
    • 4.2.8 You may not transmit any viruses or other computer programming that may damage, detrimentally interfere with, surreptitiously intercept, or expropriate any system or Data.
    • 4.2.9 You may not attempt to reverse engineer or otherwise derive source code, trade secrets, or know-how in the APIs or portion thereof.
    • 4.2.10 You may not use the APIs to replicate or compete with core products or Services offered by Tokenbacon. You acknowledge and agree that Tokenbacon has or may in the future offer products or services that are similar to your Application, and nothing will prevent Tokenbacon from doing so.
    • 4.2.11 You may charge for your Application. However, you may not sell, rent, lease, sublicense, redistribute, or syndicate access to the APIs.

    5. APIs Limitations and Modifications

    5.1 Tokenbacon will make reasonable efforts to keep the Service(s) operational. However, certain technical difficulties or maintenance may, from time to time, result in temporary or permanent interruptions.

    5.2 Tokenbacon is still evolving, and we need the flexibility to occasionally make changes to our APIs, including backwards incompatible ones. We will try to give notice of these changes, but you should follow our Website for updates. Furthermore, parts of our API are undocumented, including certain methods, events, and properties. Given that these undocumented aspects of our API may change at any time, you should not rely on these behaviors.

    6. Ownership

    6.1 As between you and us, we own all rights, title, and interest, including all intellectual property rights, in and to, (1) the APIs, documentation, and all elements and components thereof; (2) Data; (3) Service(s); and (4) Brand Features (collectively, the “Tokenbacon Materials”). The only exception to this is Data that you as an APIs Client have licensed to Tokenbacon. Except for the express licenses granted in the APIs, Tokenbacon does not grant you any right, title, or interest in the Tokenbacon Materials.

    7. Right You Grant Us

    7.1 If you access or use our APIs, we may use your brand or marks in a way that suggests you endorse, sponsor, or associate with Tokenbacon.

    7.2 You grant us a non-exclusive, transferable, sub-licensable, royalty-free, perpetual (or, in jurisdictions where this is not permitted, for a term equal to the duration of the Agreements plus twenty (20) years), irrevocable, fully paid, worldwide license to use, reproduce, make available to the public (e.g. perform or display), publish, translate, modify, create derivative works from, and distribute any of your brand, marks, content in connection with the Service(s) through any medium, whether alone or in combination with other content or materials, in any manner and by any means, method or technology, whether now known or hereafter created. Aside from the rights specifically granted herein, you retain ownership of all rights, including intellectual property rights, in the marks, brand and content. Where applicable and permitted under applicable law, you also agree to waive any “moral rights” (or the equivalent under applicable law) such as your right to be identified as the author of any marks, brand, content, including feedback, and your right to object to derogatory treatment of such marks, brand, content.

    8. NO WARRANTY

    8.1 TOKENBACON PROVIDES THE SERVICE(S), APIS, DATA, AND ALL RELATED COMPONENT AND INFORMATION "AS IS," "WITH ALL FAULTS" AND "AS AVAILABLE," AND THE ENTIRE RISK AS TO SATISFACTORY QUALITY, PERFORMANCE, ACCURACY, AND EFFORT IS WITH YOU. TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, TOKENBACON MAKES NO REPRESENTATIONS, WARRANTIES OR CONDITIONS, EXPRESS OR IMPLIED. YOU ACKNOWLEDGE THAT TOKENBACON DOES NOT WARRANT THAT THE APIS WILL BE UNINTERRUPTED, TIMELY, SECURE, ERROR-FREE OR VIRUS-FREE, NOR DOES IT MAKE ANY WARRANTY AS TO THE RESULTS THAT MAY BE OBTAINED FROM USE OF THE APIS, AND NO INFORMATION, ADVICE OR SERVICE(S) OBTAINED BY YOU FROM TOKENBACON SHALL CREATE ANY WARRANTY NOT EXPRESSLY STATED IN THE TERMS.

    9. LIMITATION ON LIABILITY

    9.1 IN NO EVENT WILL TOKENBACON BE LIABLE FOR ANY DAMAGES, INCLUDING WITHOUT LIMITATION ANY INDIRECT, CONSEQUENTIAL, SPECIAL, INCIDENTAL, OR PUNITIVE DAMAGES ARISING OUT OF, BASED ON, OR RESULTING FROM THE TERMS OR YOUR USE OF THE APIS, SERVICES, DATA, EVEN IF SUCH PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. THE EXCLUSION OF DAMAGES UNDER THIS PARAGRAPH IS INDEPENDENT OF YOUR EXCLUSIVE REMEDY AND SURVIVES IN THE EVENT SUCH REMEDY FAILS OF ITS ESSENTIAL PURPOSE OR IS OTHERWISE DEEMED UNENFORCEABLE. THESE LIMITATIONS AND EXCLUSIONS APPLY WITHOUT REGARD TO WHETHER THE DAMAGES ARISE FROM (A) BREACH OF CONTRACT, (B) BREACH OF WARRANTY, (C) NEGLIGENCE, OR (D) ANY OTHER CAUSE OF ACTION, TO THE EXTENT SUCH EXCLUSION AND LIMITATIONS ARE NOT PROHIBITED BY APPLICABLE LAW. IF YOU DO NOT AGREE WITH ANY PART OF THE TERMS, OR YOU HAVE ANY DISPUTE OR CLAIM AGAINST TOKENBACON WITH RESPECT TO THE TERMS OR THE SERVICE(S), THEN YOUR SOLE AND EXCLUSIVE REMEDY IS TO DISCONTINUE USING THE APIS, DATA, AND SERVICE(S).

    10. Other Applicable Agreements

    10.1 You and your Application must also comply with the following, which are hereby incorporated by reference:

    • 10.1.1 Terms of Use
    • 10.1.2 Privacy Policy
    • 10.1.3 List of Risks
    • 10.1.4 Any other Terms available on the Website.

    10.2 In the event of any conflict between the content in this document and the above documents, this document controls your use of the APIs.

    11. Indemnity

    11.1 You agree to defend, hold harmless and indemnify Tokenbacon, and its subsidiaries, affiliates, officers, agents, employees, and suppliers, from and against any third party claim arising from or in any way related to your or your users’ use of the Application, the APIs or Data, use of Tokenbacon Brand, or violation of the Terms, including any liability or expense arising from all claims, losses, damages (actual and consequential), suits, judgments, litigation costs and attorneys’ fees, of every kind and nature. In such a case, we will provide you with written notice of such claim, suit, or action.

    12. Miscellaneous

    12.1 Assignment: You shall not assign the Terms without the prior written consent of us. Any assignment or transfer in violation of this section shall be null and void. We may assign the Terms to an affiliate. Subject to the foregoing, the Terms, and the rights and obligations of the parties hereunder, shall be binding upon and inure to the benefit of their respective successors, assigns, heirs, executors, administrators and legal representatives.

    12.2 Language: Where Tokenbacon has provided you with a translation of the English language version of the Terms or any document referenced in the Terms, you agree that the translation is provided for your convenience only and that the English language versions of any such document, will control.

    12.3 Entire Agreement: The Terms, including any documents incorporated into the Terms by reference, constitute the entire agreement between you and Tokenbacon regarding the subject matter of the Terms and supersedes all prior agreements and understandings, whether written or oral, or whether established by custom, practice, policy or precedent, with respect to the subject matter of the Terms.

    12.4 Severability: If any provision of the Terms is determined by a court of competent jurisdiction to be invalid, inoperative or unenforceable for any reason, the provision shall be modified to make it valid and, to the extent possible, effectuate the original intent of the parties as closely as possible in an acceptable manner in order that the transactions contemplated hereby be consummated as originally contemplated to the fullest extent possible.

    12.5 Modification of the Terms: We may modify the Terms at any time by posting a revised version on the Website. The modified Terms shall become effective upon posting. It is your responsibility to check the Website regularly for modifications to the Terms. The Terms was last modified on the date listed at the beginning of the Terms.

    12.6 Governing Law and Dispute Resolution

    • 12.6.1 The Terms will be governed by and construed and enforced in accordance with the laws of Republic of Seychelles, without regard to conflict of law rules or principles that would cause the application of the laws ​of ​any ​other ​jurisdiction.
    • 12.6.2 You and the Company agree that the laws of Republic of Seychelles, excluding its conflict of laws rules, shall exclusively govern any dispute relating to this Agreement or the Services. You and the Company both agree that all claims and disputes can be litigated only in the courts in Republic of Seychelles and you and the Company each agree to personal jurisdiction in those courts.
    • 12.6.3 Any dispute is personal to you and us and will be resolved solely through individual arbitration and will not be brought as a class arbitration, class action or any other type of representative proceeding. There will be no class arbitration or arbitration in which individual attempts to resolve a dispute as a representative of another individual or group of individuals. Further, a dispute cannot be brought as a class or other type of representative action, whether within or outside of arbitration, or on behalf of any other individual or group of ​individuals.

    12.7 Electronic Communications: You agree and acknowledge that all agreements, notices, disclosures and other communications that we provide you pursuant to the Terms or in connection with or related to your use of the APIs, may be provided by Tokenbacon, in its sole discretion, to you, in electronic form including without limitation by:

    • 12.7.1 Posting ​a ​notice ​on ​the ​Website
    • 12.7.2 Sending ​an ​email ​to ​the ​email ​address ​then ​associated ​with your account
    • 12.7.3 Electronic Communications provided by posting on the Website will be effective upon posting and notices provided by email will be effective when we send the email. It is your responsibility to keep your email address current. You will be deemed to have received any email sent to the email address when we send ​the ​email, ​whether ​or ​not you ​actually ​receive ​or ​read ​the ​email.
    • 12.7.4 Any communication that you provide to Tokenbacon must be in the English language and delivered to us by email ( support@tokenbacon.com ). Such Notices will be effective ​one ​business ​day ​after ​they ​are ​sent.

 

Effective on April 5, 2018

 

Thank you for using Tokenbacon's service, websites, software applications, candy drop service(s), token swap network, blockchain-cloud service(s), archiving and related systems and technologies, data, reports, text, images, any other content or material (collectively, the “Service(s)”). By using or accessing the Service(s), you agree to become bound by all the terms below. If you do not agree to all the terms, do not use or access the Service(s). If there is a conflict between these terms and additional terms applicable to a given service, the additional terms will control for that conflict. Collectively, we refer to the terms below, any additional terms, terms within the accompanying Service documentation, and any applicable policies and guidelines as the "Terms". Tokenbacon reserves the right, at its discretion, to modify these Terms of Use at any time by posting revised Terms of Use. The Service(s) are used or accessed by You (“Client” or “You”) under the following terms and conditions:

 

Hayek CO., Ltd. a company registered in Republic of Seychelles with registration number   199498    and registered office at Suite 1, Commercial House One, Eden Island, Republic of Seychelles (“Tokenbacon”, “Company”, “we”, “our” or “us”).

 

1.          Accepting the Terms

1.1       You may not use the Service(s) and may not accept the Terms if (a) you are not of legal age to form a binding contract with Tokenbacon, or (b) you are a person barred from using or receiving the Service(s) under the applicable laws including the country in which you are resident or from which you use the Service(s).

1.2       If you are using the Service(s) on behalf of an entity, you represent and warrant that you have authority to bind that entity to the Terms and by accepting the Terms, you are doing so on behalf of that entity (and all references to "you" in the Terms refer to that entity).

2.          Definitions

2.1       DataMeans any data and content uploaded, posted, transmitted or otherwise made available by users via the Services, including messages, files, comments, profile information and anything else entered or uploaded into the Service by a user of the Service.

2.2       Tokenbacon Brand The Tokenbacon brand and brand assets, including but not limited to names, logos, trade names and trademarks.

2.3       WebsiteMeans https://tokenbacon.com/ and ​all ​subdomains ​and ​all ​their ​respective ​pages.

3.          Access to the Service(s)

3.1       To begin using the Service(s), you must sign-up to Tokenbacon and register with your information and following the instructions provided on our website. Both the application registration and your member account must contain accurate and up-to-date information at all times, including but not limited to your current title, company, and e-mail address.

3.2       You agree that we can use, store, and share information submitted by you to Tokenbacon in connection with your use or access of the Service(s) to contact you, for attribution purposes, handling inquiries from members or potential members about your application, for other purposes under these Terms (for example, we may email you with updates regarding changes), and as otherwise permitted in our Privacy Policy. You acknowledge that if you share the contact information of your employees or independent contractors with us, we may contact them in accordance with these Terms.

4.          Service(s) License and Restrications

4.1       The Services are the property of Tokenbacon or Tokenbacon's licensors. We grant you a limited, non-exclusive, revocable license to make use of the Service(s), and a limited, non-exclusive, revocable license to make personal, non-commercial, entertainment use of the Service(s) (the “License”). This License shall remain in effect until and unless terminated by you or Tokenbacon. You promise and agree that you are using the Service(s) for your own personal, non-commercial, entertainment use and that you will not redistribute or transfer the Service or the Content.

4.2       The Service(s) is licensed, not sold, to you, and Tokenbacon and its licensors retain ownership of all copies of the Tokenbacon software applications and Service(s) even after installation on your personal computers, mobile handsets, tablets, or other relevant devices(“Devices”).

4.3       This license is subject to the following restrictions:

                   4.3.1        You will comply with all applicable law, regulation, and third party rights (including without limitation laws regarding the import or export of data or software, privacy, and local laws). You will not use the Service(s) to encourage or promote illegal activity or violation of third party rights. You will not violate any other terms of service with Tokenbacon (or its affiliates).

                   4.3.2        Tokenbacon sets and enforces limits or forbid on your use of the Service(s) in our sole discretion. You agree to, and will not attempt to circumvent, such limitations documented on each Service. If you would like to use any Service beyond these limits, you must obtain Tokenbacon express consent (and We may decline such request or condition acceptance on your agreement to additional terms and/or charges for that use).

                   4.3.3        The Terms are non-exclusive. You acknowledge that Tokenbacon may develop products or services that may compete with the clients or any other products or services.

                   4.3.4        You are account/wallet holders. You agree to: (1) try to choose a strong and secure password of your email or any other passwords; (2) keep your password of email or any other passwords secure and confidential; (3) not transfer any part of your account/wallet (e.g., connections); (4) keep your account/wallet confidential, and not to share it with any third party. You are responsible for anything that happens through your account/wallet unless you close it or report misuse.

                   4.3.5        You agree to keep your Tokenbacon API key confidential, and not to share it with any third party. This license is personal to you and specific to your use of the Service(s). You agree that you will be personally responsible for the use of the Service(s).

                   4.3.6        You may not transmit any viruses or other computer programming that may damage, detrimentally interfere with, surreptitiously intercept, or expropriate any system or data.

                   4.3.7        You may not attempt to reverse engineer or otherwise derive source code, trade secrets, or know-how in the Service(s) or portion thereof.

                   4.3.8        You may not use the Service(s) to replicate or compete with core products or Services offered by Tokenbacon. You acknowledge and agree that Tokenbacon has or may in the future offer products or services that are similar to your Application, and nothing will prevent Tokenbacon from doing so.

                   4.3.9        You may not use Service(s) to create, circulate, distribute, sell, buy, drop, exchange or swap any token representing securities, investment contract or any other form of investment products.

                4.3.10       You may not provide your password to any other person or use any other person’s username and password.

                4.3.11       You may not “crawling” the Service(s) or otherwise using any automated means (including bots, scrapers, and spiders) to collect information from Tokenbacon.

5.          Service Limitations and Modifications

5.1       Tokenbacon will make reasonable efforts to keep the Service(s) operational. However, certain technical difficulties or maintenance may, from time to time, result in temporary or permanent interruptions.

5.2       Tokenbacon is still evolving, and we need the flexibility to occasionally make changes to our Service(s), including backwards incompatible ones. We will try to give notice of these changes, but you should follow our Website for updates. Furthermore, parts of our API are undocumented, including certain methods, events, and properties. Given that these undocumented aspects of the Service(s) may change at any time, you should not rely on these behaviors.

6.          Ownership

6.1       As between you and us, we own all rights, title, and interest, including all intellectual property rights, in and to, (1) the Service(s), Documentation, and all elements and components thereof; (2) Data; and (3) All Tokenbacon trademarks, service marks, trade names, logos, domain names, and any other features of the Tokenbacon brand (“Brand Features”) (collectively, the “Tokenbacon Materials”). The only exception to this is Data that you as a Service(s) client have licensed to Tokenbacon. Except for the express licenses granted in the Service(s), Tokenbacon does not grant you any right, title, or interest in the Tokenbacon Materials.

7.          Right You Grant Us

7.1       If you access or use our Service(s), we may use your brand or marks in a way that suggests you endorse, sponsor, or associate with Tokenbacon.

7.2       If you provide us with your accounts and passwords of social media, including but not limited to Facebook, Twitter, Instagram, LinkedIn, we may use the accounts to create posts regarding purposes you describe on the application form, and have all rights thereto. You shall ensure we have rights to collect, access and store all your fans’ data of social media, with other rights thereto, provided that with prior written notice you reserve the right to restrict how we use the data.   

7.3       You grant us a non-exclusive, transferable, sub-licensable, royalty-free, perpetual (or, in jurisdictions where this is not permitted, for a term equal to the duration of the Agreements plus twenty (20) years), irrevocable, fully paid, worldwide license to use, reproduce, make available to the public (e.g. perform or display), publish, translate, modify, create derivative works from, and distribute any of your brand, marks, content in connection with the Service(s) through any medium, whether alone or in combination with other content or materials, in any manner and by any means, method or technology, whether now known or hereafter created. Aside from the rights specifically granted herein, you retain ownership of all rights, including intellectual property rights, in the marks, brand and content. Where applicable and permitted under applicable law, you also agree to waive any “moral rights” (or the equivalent under applicable law) such as your right to be identified as the author of any marks, brand, content, including feedback, and your right to object to derogatory treatment of such marks, brand, content.

8.          NO WARRANTY. 

8.1       TOKENBACON PROVIDES THE SERVICES, DATA, AND ALL RELATED COMPONENT AND INFORMATION "AS IS," "WITH ALL FAULTS" AND "AS AVAILABLE," AND THE ENTIRE RISK AS TO SATISFACTORY QUALITY, PERFORMANCE, ACCURACY, AND EFFORT IS WITH YOU. TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, TOKENBACON MAKES NO REPRESENTATIONS, WARRANTIES OR CONDITIONS, EXPRESS OR IMPLIED. YOU ACKNOWLEDGE THAT TOKENBACON DOES NOT WARRANT THAT THE SERVICE(S) WILL BE UNINTERRUPTED, TIMELY, SECURE, ERROR-FREE OR VIRUS-FREE, NOR DOES IT MAKE ANY WARRANTY AS TO THE RESULTS THAT MAY BE OBTAINED FROM USE OF THE SERVICE(S), AND NO INFORMATION, ADVICE OR SERVICES OBTAINED BY YOU FROM TOKENBACON SHALL CREATE ANY WARRANTY NOT EXPRESSLY STATED IN THE TERMS.

9.          LIMITATION ON LIABILITY

9.1       IN NO EVENT WILL TOKENBACON BE LIABLE FOR ANY DAMAGES, INCLUDING WITHOUT LIMITATION ANY INDIRECT, CONSEQUENTIAL, SPECIAL, INCIDENTAL, OR PUNITIVE DAMAGES ARISING OUT OF, BASED ON, OR RESULTING FROM THE TERMS OR YOUR USE OR ACCESS OF THE SERVICE(S), DATA, EVEN IF SUCH PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. THE EXCLUSION OF DAMAGES UNDER THIS PARAGRAPH IS INDEPENDENT OF YOUR EXCLUSIVE REMEDY AND SURVIVES IN THE EVENT SUCH REMEDY FAILS OF ITS ESSENTIAL PURPOSE OR IS OTHERWISE DEEMED UNENFORCEABLE. THESE LIMITATIONS AND EXCLUSIONS APPLY WITHOUT REGARD TO WHETHER THE DAMAGES ARISE FROM (A) BREACH OF CONTRACT, (B) BREACH OF WARRANTY, (C) NEGLIGENCE, OR (D) ANY OTHER CAUSE OF ACTION, TO THE EXTENT SUCH EXCLUSION AND LIMITATIONS ARE NOT PROHIBITED BY APPLICABLE LAW. IF YOU DO NOT AGREE WITH ANY PART OF THE TERMS, OR YOU HAVE ANY DISPUTE OR CLAIM AGAINST TOKENBACON WITH RESPECT TO THE TERMS OR THE SERVICES, THEN YOUR SOLE AND EXCLUSIVE REMEDY IS TO DISCONTINUE USING THE SERVICE(S), DATA.

10.       Other Applicable Agreements

10.1   You and your Application must also comply with the following, which are hereby incorporated by reference:

                10.1.1       Terms of Service

                10.1.2       Privacy Policy

                10.1.3       List of Risks

                10.1.4       Any other terms available on the Website

10.2   In the event of any conflict between the content in this document and the above documents, this document controls your use of the Service(s).

11.       Indemnity

11.1   You agree to defend, hold harmless and indemnify Tokenbacon, and its subsidiaries, affiliates, officers, agents, employees, and suppliers, from and against any third party claim arising from or in any way related to your or your users’ use of the Service(s) or Data, use of Tokenbacon Materials, or violation of the Terms, including any liability or expense arising from all claims, losses, damages (actual and consequential), suits, judgments, litigation costs and attorneys’ fees, of every kind and nature. In such a case, we will provide you with written notice of such claim, suit, or action.

12.       Miscellaneous

12.1   AssignmentYou shall not assign the Terms without the prior written consent of us. Any assignment or transfer in violation of this section shall be null and void. We may assign the Terms to an affiliate. Subject to the foregoing, the Terms, and the rights and obligations of the Parties hereunder, shall be binding upon and inure to the benefit of their respective successors, assigns, heirs, executors, administrators and legal representatives.

12.2   LanguageWhere Tokenbacon has provided you with a translation of the English language version of the Terms or any document referenced in the Terms, you agree that the translation is provided for your convenience only and that the English language versions of any such document, will control.

12.3   Entire AgreementThe Terms, including any documents incorporated into the Terms by reference, constitute the entire agreement between you and Tokenbacon regarding the subject matter of the Terms and supersedes all prior agreements and understandings, whether written or oral, or whether established by custom, practice, policy or precedent, with respect to the subject matter of the Terms.

12.4   SeverabilityIf any provision of the Terms is determined by a court of competent jurisdiction to be invalid, inoperative or unenforceable for any reason, the provision shall be modified to make it valid and, to the extent possible, effectuate the original intent of the Parties as closely as possible in an acceptable manner in order that the transactions contemplated hereby be consummated as originally contemplated to the fullest extent possible.

12.5   Modification of the TermsWe may modify the Terms at any time by posting a revised version on the Website. The modified terms shall become effective upon posting. It is your responsibility to check the Website regularly for modifications to the Terms. The Terms was last modified on the date listed at the beginning of the Terms.

12.6   Governing Law and Dispute Resolution

                12.6.1       The Terms will be governed by and construed and enforced in accordance with the laws of Republic of Seychelles, without regard to conflict of law rules or principles that would cause the application of the laws ​of ​any ​other ​jurisdiction.

                12.6.2       You agree that the laws of Republic of Seychelles, excluding its conflict of laws rules, shall exclusively govern any dispute relating to this Agreement or the Services. You agree that all claims and disputes can be litigated only in the courts in Republic of Seychelles and you and the Company each agree to personal jurisdiction in those courts.

                   1.1.1        Any Dispute is personal to you and us and will be resolved solely through individual arbitration and will not be brought as a class arbitration, class action or any other type of representative proceeding. There will be no class arbitration or arbitration in which individual attempts to resolve a Dispute as a representative of another individual or group of individuals. Further, a Dispute cannot be brought as a class or other type of representative action, whether within or outside of arbitration, or on behalf of any other individual or group of ​individuals.

1.2       Electronic CommunicationsYou agrees and acknowledges that all agreements, notices, disclosures and other communications that we provide you pursuant to the terms or in connection with or related to your use of the Service(s), may be provided by Tokenbacon, in its sole discretion, to you, in electronic form including without limitation by

                   1.2.1        Posting ​a ​notice ​on ​the our ​Website

                   1.2.2        Sending ​an ​email ​to ​the ​email ​address ​then ​associated ​with your account

                   1.2.3        Electronic Communications provided by posting on the Website will be effective upon posting and Notices provided by email will be effective when we send the email. It is your responsibility to keep your email address current. You will be deemed to have received any email sent to the email address when we send ​the ​email, ​whether ​or ​not you ​actually ​receives ​or ​reads ​the ​email.

   1.2.4        Any communication that you provide to Tokenbacon must be in the English language and delivered to us by email (support@tokenbacon.com). Such Notices will be effective ​one ​business ​day ​after ​they ​are ​sent.

 

 

    Last Revised: 2018/7/26

    PLEASE READ THIS PRIVACY AND COOKIES POLICY CAREFULLY BEFORE ACQUIRING OR USING BACON COINS OR THE SERVICE(S).

    BY ACQUIRING OR USING BACON COINS, OR THE SERVICE(S) YOU AGREE TO THE COLLECTION AND USE OF YOUR INFORMATION IN ACCORDANCE WITH THIS PRIVACY AND COOKIES POLICY(“POLICY”). IF YOU DO NOT AGREE WITH THIS POLICY, OR YOU ARE A RESIDENT OF, A CITIZEN OF OR LOCATED IN A GEOGRAPHIC AREA THAT IS SUBJECT TO EU, YOU ARE NOT AUTHORIZED TO ACCESS AND USE THE SERVICE(S), ACQUIRE BACON COINS OR ANY OTHER TOKENS CREATED BY THE SERVICE(S) AND YOUR SOLE RECOURSE IS TO NOT USE THE SERVICE(S), TO NOT ACQUIRE BACON COINS OR ANY OTHER TOKENS CREATED BY THE SERVICE(S).

    1. Who Is Responsible For Managing My Information?

    1.1 This Website including our related APIs, products, applications, layout, content, materials, and services made available by us (together the “Service(s)”) is owned and maintained by Hayek CO., Ltd. with registration number 199498 and registered office at Suite 1, Commercial House One, Eden Island, Republic of SeychGelles (“Tokenbacon”, “we” or “us”). We are responsible for the collection and proper management of any personal information you submit.

    2. What Information Do We Collect?

    2.1 When you subscribe to our newsletter, participate in discussion boards, live chats or other social media functions on the Website, file or register in forms on the Website (except for KYC Procedure, as defined in the Terms of Sale), use the Service(s), or correspond with us by phone, e-mail or otherwise, and when you report a problem with the Website, we collect and store your contact information on the basis of your consent, which may include but not limited to your name, email address, phone number, address and other information provided. In case you want to participate in our Coin Sale, purchase the Bacon Coins and undergo our KYC Procedure (as defined in the Terms of Sale) we will also require you to provide additional personal information (“Personal Information”), such as date and place of birth, nationality, personal identification number, tax number, copy of your identification documents, permanent and temporary residence address, your photograph, your utility bill or bank statement, ETH or other wallet address and other similar data, which is used for identification purposes and which we may be required to collect to comply with applicable laws. We may also obtain information about you from third parties (“Third parties” or “Third party websites”), such as identity verification services. We may also ask you for additional government-issued identification or other information to validate your identity as required by our policies and procedures. We collect and store your information on the contractual basis or on the basis of legitimate interests. It is a reasonable and proportionate procedure and the collected personal information involves only limited and necessary data.

    2.2 When you purchase Bacon Coins a contractual relationship is created between you and us. Based on that contractual relationship we collect the following information:

    • 2.2.1 Transaction information: We collect information about the Bacon Coin sale transactions you complete, including the amount of Cryptocurrency funds and Bacon Coins associated with our Coin Sale.

    2.3 When you access the Service(s), even if you have not yet created an account with us, we collect the information sent to us by your computer, mobile phone, or other access device. This information includes without limitation:

    • 2.3.1 Your IP address
    • 2.3.2 Device information including, but not limited to, identifier, name, and type of operating system
    • 2.3.3 Mobile network information
    • 2.3.4 Standard web information, such as your browser type and the pages you access on our Website

    2.4 We collect the following information automatically:

    • 2.4.1 Information about your hardware and software may be automatically collected by us. This information can include usage information that includes your interactions with the Service(s), device information, such as unique device identifiers, operating system information, internet service provider, IP address, screen resolution, language, the date and time of each of your log-ins and requests. We can also collect other information due to this agreement, but only for the needs of the Service(s). This information is used for the operation of Service(s), to maintain quality of the Service(s), and to provide general statistics regarding use of Services and can be received otherwise.
    • 2.4.2 However, we will collect all incoming and outgoing data from the Service(s) and its connected sources. All of this data will be automatically processed to provide a high-quality output, like all kinds of researches. This grants you, as well as other Platform users, the right to conduct a specifically targeted survey covering all the necessary questions and get a direct response. Taking this in consideration, you agree your information may be collected in such a manner as well.

    3. How Do We Use Your Information?

    3.1 Who will we share your information with?

    • 3.1.1 We take your privacy very seriously and will keep your information within our company except where disclosure is absolutely necessary, required and permitted by law (for example to government bodies and law enforcement agencies), or if you expressively allow us to do so.
    • 3.1.2 However, we may share some data with Third party websites (e.g. Facebook, Google, Instagram, Twitter), if they are trusted or under a non-disclosure agreement with us, with appropriate security measures, to show you relevant advertising on Third party websites.
    • 3.1.3 You agree that we have the right to share your information with any member of our group, which means our subsidiaries and our ultimate holding company and its subsidiaries; fraud and crime prevention agencies for the purpose of assessing the risk of crime, fraud and money laundering, which is a condition of us entering into any contract with you or any other governmental authorities; our banking partners or financial institutions; business partners, suppliers and sub-contractors for the performance of any agreement we enter into with them or you; analytics and search engine providers that assist us in the improvement and optimization of our site; legal entities that we are interested in merging with or be acquired by.
    • 3.1.4 We will disclose your personal information to Third parties as required by law; in the event that we sell or buy any business or assets, in which case we will disclose your personal information to the prospective seller or buyer of such business or assets; if Tokenbacon, or substantially all of its assets are acquired by a third party, in which case personal information held by it about its customers will be one of the transferred assets; if we are under a duty to disclose or share your personal information in order to comply with any legal obligation, or in order to enforce or apply our Terms of Sale and other agreements; or to protect the rights, property, or safety of Tokenbacon, our customers, or others. This includes exchanging information with other companies and organizations for the purposes of fraud protection and credit risk reduction; to ensure that we can successfully seek to complete the Service(s) and to meet our legal and contractual obligations to you related to the Service(s); to avoid crime, money laundering and the risk of fraud; to ensure that we have relevant information on persons wishing to contribute to our Service(s); to ensure that the underlying network that will be developed pursuant to the Service(s) is intended to be usable has sufficient and relevant information in order to support you and your use of the Service(s); in order to provide relevant information to regulators, government agencies and banks that may request information on the Service(s).

    3.2 Our primary purpose for collecting your information is to provide you with a secure, smooth, efficient, and customized experience. We collect, control, process and use your information to operate our Service(s) and deliver the Service(s) you have requested. We may use your personal information to:

    • 3.2.1 Identify our users, customers and clients
    • 3.2.2 Administer and provide the Service(s) and customer support per your request
    • 3.2.3 Develop new Service(s)
    • 3.2.4 Personalize our Service(s) for you
    • 3.2.5 Send you technical notices and support and administrative messages
    • 3.2.6 Process transactions or swap and send notices about your request
    • 3.2.7 Communicate with you about the Service(s), promotions, events and other news and information we think will be of interest to you
    • 3.2.8 Monitor and analyze trends, usage and activities in connection with our Service(s)
    • 3.2.9 Resolve disputes, collect fees, and troubleshoot problems
    • 3.2.10 Prevent potentially prohibited or illegal activities, and enforce our Terms
    • 3.2.11 Detect, investigate and prevent fraudulent transactions or swap and other illegal activities and protect the rights and property of Tokenbacon and others
    • 3.2.12 Customize, measure, and improve the Service(s)
    • 3.2.13 Deliver targeted marketing, service update notices, and promotional offers based on your communication preferences
    • 3.2.14 Compare information for accuracy and verify it with Third parties
    • 3.2.15 Verify your status or confirm information you provided to us
    • 3.2.16 Distribute and account Bacon Coins or other tokens created by the Service(s)
    • 3.2.17 Provide Third parties with statistical information about our users (but those Third parties will not be able to identify any individual User from that information)
    • 3.2.18 Control and process information we collect from or about you for implementation of applicable legislation
    • 3.2.19 Link, compile or combine information we collect from or about you
    • 3.2.20 Verify compliance with the Terms governing the use of the Service(s) (including monitoring private messages sent through our Website private messaging service)

    3.3 To provide you with the best Service(s) possible, we also use third party service providers, which we entrust storing data, its collection and analysis. We believe that all third party service providers are important to our effective operation. They have their own privacy policies and their own conditions, whether to collect your data or opt-out from it. Thus, we do recommend you get yourself acquainted with the terms of third party service provider. WE DO NOT ACCEPT ANY RESPONSIBILITY OR LIABILITY FOR THE PRIVACY PRACTICES OF SUCH THIRD PARTY WEBSITES OR SERVICES AND YOUR USE OF SUCH WEBSITES OR SERVICES IS AT YOUR OWN RISK.

    3.4 By default, we will not seek any of your information through any other software platforms, data web resources etc., even if this information is necessary for you or your usage of the Service(s), but we or our third party service provider may do it for the conformance and verification purposes.

    3.5 When you use a location-enabled device to access our Service(s), we may collect geographical location data or use various means to determine the location, such as sensor data from your device that may, for instance, provide data on nearby cell towers and wi-fi access spots. We do this so that we can verify your location to ensure compliance with applicable laws including without limitation AML and KYC rules. This may include the blocking from certain countries where the usage of our Service(s) or purchasing of Bacon Coins are prohibited by that country.

    4. How Long Will We Hold Your Information For?

    4.1 We have a system of retention periods in place to ensure that your information is only stored while it is required for the relevant purposes or to meet legal requirements. Where your information is no longer required, we will ensure it is disposed of in a secure manner.

    5. How Will We Protect Your Personal Information?

    5.1 We are committed to protecting the personal information we collect when you access the Service(s), purchase Bacon Coins and other events. We protect your information using physical, technical, and administrative security measures to reduce the risks of loss, misuse, unauthorized access, disclosure, and alteration. Some of the safeguards we use are firewalls and data encryption, physical access controls to our data centers, and information access authorization controls. We also authorize access to personal information only for those employees, who require it to fulfil their job responsibilities. We take reasonable steps to protect the security of the information communicated through the Service(s). However, no computer security system is entirely foolproof and the Internet is not a secure method of transmitting information. As a result, we do not assume any responsibility for the data you submit to or receive from us through the Internet or for any unauthorized access or use of that information and we cannot and do not guarantee that information communicated by you to us or sent to you by us will be received or that it will not be altered before or after its transmission to us. You agree to not hold us and our 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 liable for any loss or damage of any sort incurred as a result of any misappropriation, interception, modification, deletion, destruction or use of information provided through the Service(s).

    6. What Is Our Policy For Users Under The Age Of 20?

    6.1 Our Service(s) is not designed or targeted toward users who might be under the age of 20 years old. Parents or guardians: We need to help to guard your children’s privacy. We encourage you to talk to your children about safe and responsible use of their and your personal information while using Internet. Please note, that in case a user indicates that his/her age is below the abovementioned years amount, we need active approval of one of such user’s parents or guardians for any consent, including but not limited to consent for personal information use and processing, such user gives to us. To give us such an approval you will have to follow instructions, indicated on the Website while a user under the age of 20 is registering on the Website. In case Service(s) is used without registration process, it is presumed by Tokenbacon that such access is approved by appropriate user’s parents or guardians, if applicable. Our Service(s), web-resources and web-resources of our affiliates, licensees, agents etc. in the part they use under our license or assignment do not publish any data that is targeted to children. We advise you to refrain your children from accessing the Service(s) and web-resources, mentioned in this paragraph and ask them not to use them.

    7. How Can You Access and Update Your Information?

    7.1 If you wish to access, correct, update, or request deletion of your information, you can do so at any time by emailing support@tokenbacon.com – provided however that deletion of your information may and probably will cause inaccessibility of the Service(s) and some features for you.

    7.2 In addition, you can object to the processing of your information, ask us to restrict the processing of your personal information, or request portability (which is the transfer of the personal information, you provided to us, to any third party you indicate in your request) of your information.

    7.3 Again, you can exercise these rights by emailing support@tokenbacon.com, and again this may and probably will cause inaccessibility of the Service(s) and some features for you. Note, that after your portability request is fulfilled we bear no responsibility in relation to the data transferred or the outcome of such transfer.

    7.4 You have the right to opt-out of newsletter, marketing communications or notifications we send you at any time. You can exercise this right by clicking on the "unsubscribe" or "opt-out" link in the marketing emails we send you. To opt-out of other forms of marketing, please contact us by emailing support@tokenbacon.com. But note that in the later case you may miss some important information that we may send and we do not bear any responsibility for that. In case you at any time wish to revoke or withdraw your consent for your personal information use you should contact us – as your personal information controller – to initiate the request, even if such information lives on servers belonging to a data processor. We, upon receiving this request, would then proceed to remove the revoked data from our servers or request appropriate data processors to remove the revoked data from their servers. Withdrawing your consent will not affect the lawfulness of any processing we conducted prior to your withdrawal, nor will it affect the processing of your personal information conducted in reliance on lawful processing grounds other than consent.

    8. How Do We Update This Privacy Policy?

    8.1 We may revise this policy at any time by posting a revised version on the Website. The revised version will be effective at the time we post it. In addition, if the revised version includes any substantial changes to the manner in which your personal information will be processed, we may provide you with prior notice by posting notification of the change on the “Privacy and Cookies Policy” area of our Website or any Service(s) made available through our Website. We encourage you to periodically check this page for the latest information on our Privacy Policy.

    8.2 It’s your responsibility to review this Policy periodically and to be informed of how we use your personal information.

    9. Cookies

    9.1 We use cookies and other similar technologies (e.g., web beacons, flash cookies, etc.,) (together the “Cookies”) to enhance your experience using the Service(s). Cookies may be either "persistent" cookies or "session" cookies. A persistent cookie consists of a text file sent by a web server to a web browser, which will be stored by the browser and will remain valid until its set expiry date (unless deleted by the user before the expiry date). A session cookie, on the other hand, will expire at the end of the user session, when the web browser is closed.

    9.2 Cookies are small files, saved to your computer through your web browser that track, save and store information about your interactions and usage of the Website. They allow us to provide you with a tailored experience within the Website. If you wish to deny the use and saving of Cookies to your computer, you should take the necessary steps within your web browser security settings to block all Cookies from the Website and its external serving vendors or use the cookie control system upon your first visit. If you continue without changing your settings, we’ll assume that you are happy to receive all Cookies on the Website. However, you can change your cookie settings at any time.

    9.3 It is important to note that if you change your settings and block certain Cookies, you will not be able to take full advantage of some features of the Service(s), and we might not be able to provide some features you have previously chosen to receive.

    9.4 We use the following Cookies:

    Cookie Name Purpose Type Duration Domain
    XSRF-TOKEN Avoid cross-site script execution First party 1 day tokenbacon.com
    laravel_session Recognize users First party At the end of the session tokenbacon.com

    10. Who Can You Contact If You Have Queries About This Privacy and Cookies Policy?

    10.1 Please contact us if you have any questions about our Policy or information we hold about you. By email: support@tokenbacon.com

    Last revised: 2018/6/7

    Before you purchasing Bacoin Coins, participating in the Service(s) or any other relevant events, please be aware there are significant financial, regulatory, reputational and other risks, including but not limited to those set out in this document associated with purchasing, holding, owning, and using the Service(s), Bacoin Coins or other tokens created by the Service(s). This document is intended to apprise you of some of the risks involved with purchasing, holding, owning, and using the Service(s), Bacoin Coins or other tokens created by the Service(s). By purchasing, selling, holding, owning, and using Bacoin Coins and participating in the Bacon Coin sale or Service(s), you expressly acknowledge and assume the following risks:

    1. Risks Associated with Your Credentials

    1.1 Any third party that gains access to your login credentials or private keys may be able to dispose of the your Tokens. To minimize this risk, you should guard against unauthorized access to their electronic devices.

    2. Risk that the Service(s), As Developed, Will Not Meet the Expectations of You

    2.1 The Tokeanbacon service(s) is presently under development and its governance structure, fees, purpose, consensus mechanism, algorithm, code, infrastructure design and other technical specifications and parameters may undergo significant changes without notice. Any expectations regarding the form and functionality of Tokens or the Service(s) held by you may not be met, for any number of reasons, including a change in the design and implementation plans and execution of the Service(s).

    3. Risk of Software Weaknesses

    3.1 Because Bacoin Coins, the Smart Contract and the Service(s) are based on the Ethereum protocol, any malfunction, breakdown or abandonment of the Ethereum protocol may have a material adverse effect on Bacoin Coins, the Smart Contract and the Service(s). Moreover, advances in cryptography, or technical advances such as the development of quantum computing, could present risks to the Bacoin Coins (including the utility of Bacoin Coins for obtaining services on the Service(s), the Smart Contract and the Service(s), by rendering ineffective the cryptographic consensus mechanism that underpins the Ethereum protocol. The Smart Contract concept, the underlying software application and software platform (i.e. the Ethereum blockchain) is still in an early development stage and is unproven. There is no warranty or assurance that the process for creating Bacoin Coins or other tokens created by Service(s) will be uninterrupted or error-free and there is an inherent risk that the software could contain defects, weaknesses, vulnerabilities, viruses or bugs causing, inter alia, the complete loss of ETH, Bacoin Coins or other tokens.

    4. Potential Concentrated Ownership of Bacoin Coins

    4.1 Immediately after the completion of the token sale, a number of individuals, including but not limited to the directors, advisors and early backers of the Company, may directly or indirectly own significant proportion of total available Bacoin Coins. These significant Bacon Coin holders may, acting alone or in concert, not necessarily make decisions that are in the best interests of the other Bacon Coin holders or the wider Tokenbacon ecosystem as a whole.

    5. General Risks Relating to The Use of the Internet or Other Electronic Medium

    5.1 Without limiting the foregoing risks, any communication or transaction via or information (including any document) transmitted via the internet or other electronic medium involves risks and by participating in the Coin Sale or utilizing the Platform, you acknowledge that you understand and accept the following risks:

    • 5.1.1 We or third parties may use such authentication technologies as we deem appropriate. No authentication, verification or computer security technology is completely secure or safe. You agree to bear all risks of unauthorized access, use, hacking or identity theft.
    • 5.1.2 The internet or other electronic media (including without limitation electronic devices, services of third party telecom service providers such as mobile phones or other handheld trading devices or interactive voice response systems) are an inherently unreliable form of communication.
    • 5.1.3 Any information (including any document) transmitted, or communication or transactions made, over the internet or through other electronic media (including electronic devices, services of third party telecom service providers such as mobile phones or other handheld trading devices or interactive voice response systems) may be subject to interruption, transmission blackout, delayed transmission due to data volume, internet traffic, market volatility or incorrect data transmission (including incorrect price quotation) or stoppage of price data feed due to the public nature of the internet or other electronic media.

    5.2 As a result of such unreliability:

    • 5.2.1 There may be time-lags, delays, failures or loss of data or loss of confidentiality in the transmission of data and receipt of communications; and
    • 5.2.2 While the Company may believe certain data to be reliable, there may be no independent basis for it to verify or contradict the accuracy or completeness of such data.

    5.3 You are solely responsible for preventing anything which may be harmful to any equipment that they use in connection with Bacoin Coins, other tokens created by the Service(s) or the Service(s) (including any computer virus, malicious program or harmful component) from affecting any such equipment, regardless of whether it originated in connection with Bacoin Coins or the Service(s).

    6. Conflict of Interests

    6.1 As the initial supplier and architect of the Service(s), the Company has substantial influence in the set up, governance and initial operations of the Company. The Company may undertake its activities, and exercise applicable rights, powers and remedies, even if this involves an actual or perceived conflict of duty, or any person has a personal interest in their exercise.

    6. Conflict of Interests

    6.1 As the initial supplier and architect of the Service(s), the Company has substantial influence in the set up, governance and initial operations of the Company. The Company may undertake its activities, and exercise applicable rights, powers and remedies, even if this involves an actual or perceived conflict of duty, or any person has a personal interest in their exercise.

    7. Regulatory Risks

    7.1 Blockchain technology allows new forms of interaction and it is possible that certain jurisdictions will apply existing regulations, or introduce new regulations, addressing blockchain technology based applications, which may be contrary to the current setup of the Smart Contract and which may, inter alia, result in substantial modifications to the Smart Contract or the Service(s), including its termination and the loss of Bacoin Coins or other tokens. Additionally, the regulation of the proposed activities of the Service(s) is currently uncertain. It is not known what regulatory framework the proposed Service(s) and associated activities will be subject to, the nature and obligations that will be imposed to comply with any such regulatory framework or if the Company will be able to apply to be regulated, or successfully obtain the necessary licences so that it may lawfully carry out its proposed business activities. Regulatory actions could negatively impact the Service(s) and Bacoin Coins in various ways, including, for purposes of illustration only, through a determination that Bacoin Coins are a regulated financial instrument that requires registration or licensing, despite our professional view that this is not the case. 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. Other Companies Using the Service(s) and Creating Their Own Tokens or Their Service(s)

    8.1 We only provide the ecosystem for those companies to create their own tokens or relevant service(s). Your access or use of their tokens or service(s) is solely between you and any such company. We have no liabilities with any events including but not limited to your use or access of other company using the Service(s) to provide you with their service(s) or tokens.

    9. Risk of Theft and Hacking

    9.1 Hackers or other groups or organizations may attempt to interfere with the Service(s) or the availability of the Tokens in any number of ways, including, without limitation, denial of service attacks, Sybil attacks, spoofing, smurfing, malware attacks, or consensus-based attacks. Additionally, there may be attempts to steal the Token Sale proceeds. Such theft or attempted theft may impact the ability of the Company to fund the development or maintenance of the Service(s). While the Company will endeavor to adopt industry practices to keep the Token Sale proceeds safe, successful cyber thefts may still occur.

    10. Risk of Flaw in Source Codes

    10.1 While the Company adopts quality assurance procedures to help ensure the source codes reflect as accurately as possible their intended operation, the flawlessness of the source codes cannot be guaranteed. They may contain bugs, defects, inconsistencies, flaws or errors, which may disable some functionality, create vulnerabilities or cause instability. Such flaws may compromise the predictability, usability, stability, or security of the Service(s). Open source codes rely on transparency to promote community-sourced identification and solution of problems within the code.

    11. Risks Arising from Lack of Governance Rights

    11.1 Because Bacoin Coins confer no governance rights of any kind with respect to the Service(s) or the Company, all decisions involving the Company (including to sell or liquidate the Company) will be made by us acting in our sole and absolute discretion, and all decisions involving the Service(s) including, but not limited to, decisions to discontinue the Service(s), to create and issue more Bacoin Coins, will be made by us. These decisions could adversely affect the Service(s) or Bacoin Coins you may hold.

    12. Risk of Abandonment of Failure

    12.1 The creation and issue of Bacoin Coins and the development of the Service(s) may be abandoned for a number of reasons, including lack of interest from the public, lack of funding, and lack of commercial success or prospects (e.g. caused by competing projects). There is no assurance that, even if any such Service(s) is partially or fully developed and launched, you will receive any benefits through Bacoin Coins that you hold.

    13. Potential Misuse of the Service(s), Its Technologies And Brand

    13.1 Services or programs which may be banned, restricted or deemed immoral in certain jurisdictions, such as gambling, betting, lottery, sweepstake, pornography, terrorism, hate crime and otherwise, could take advantage of the unpermissioned nature of Service(s) to develop, promote, market or operate. Regulators of a number of jurisdictions may accordingly take administrative or judicial actions against such programs, applications, services or even the relevant developers or users thereof. Any penal action, sanction, crackdown or other regulatory effort made by any government, quasi-government, authority or public body (including but not limited to any regulatory body of any jurisdiction) may significantly deter existing or potential users away from using the Service(s) or holding Bacoin Coins. In such circumstances, the prospects and viability of Bacoin Coins may be negatively impacted. There is no guarantee that the Service(s) will be free from all inappropriate, illegal or immoral use at any time.

    14. Risk of Hard-fork

    14.1 The Service(s) will need to go through substantial development works as part of which it may become the subject of significant conceptual, technical and commercial changes before release. As part of the development, an upgrade to Bacoin Coins or other tokens created by the Service(s) may be required (hard-fork of Bacoin Coins) and that, if you decide not to participate in such upgrade, you may no longer be able to use your Bacoin Coins or other tokens and any non-upgraded Bacoin Coins or other non-upgraded tokens may lose their functionality in full.

    15. Risk of Lack of Adoption or Use of the Service(s)

    15.1 The utility of Bacoin Coins is dependent on the popularity of the Service(s). While Bacoin Coins should not be viewed as an investment, they may have value over time. An absence of active users or low level of utilization may negatively affect the long-term development and future of the Service(s), and reduce or obviate the utility of Bacoin Coins.

    16. Risk of Incompatible Wallet Service

    16.1 The wallet or wallet service provider used to receive Bacoin Coins must conform to the ERC-20 token standard in order to be technically compatible with Bacoin Coins. The failure to ensure such conformity may have the result that you will not gain access to your Bacoin Coins.

    17. Risk of Uninsured Losses

    17.1 Unlike bank accounts or accounts at some other financial institutions, Bacoin Coins or any other tokens created by Service(s) are uninsured unless you specifically obtain private insurance in respect of them. Thus, in the event of loss or loss of utility value, there is no public insurer or private insurance arranged by us to offer recourse to you.

    18. Market Liquidity

    18.1 After the tokean sale, the Company is not responsible for the subsequent circulation and trading of Bacoin Coins. Bacoin Coins are not money, legal tender or currency, fiat or otherwise, issued by any individual, entity, central bank or national, supra-national or quasi-national organization, nor is it backed by any type or quantity of assets, property or credits, nor does it represent any entitlement to any distributions of profits, dividends, or any other returns or payments of any kind. The utility of Bacoin Coins is solely for Service(s). There is no obligation of the Company Parties, repurchase or acquire any Bacoin Coins or other tokens created by Service(s) from any Bacon Coin holder or other token holder. There is no guarantee or assurance that there may be a market or marketplace where holders may readily trade BAK or other tokens created by the Service(s).

    19. Compromised Security

    19.1 The Service(s) relies on open source software and unpermissioned decentralised distributed ledgers including but not limited to Ethereum. Accordingly, anyone may intentionally or unintentionally compromise the core infrastructural elements of the Platform and its underlying technologies. This may consequently result in the loss of any digital coins held on the Service(s) and may cause the utility of Bacoin Coins to fall.

    20. Loss of Private Key

    20.1 The loss or destruction of a private key will permanently and irreversibly deny the holder access to their Bacoin Coins. Bacoin Coins are controlled only by the validation of both the relevant unique public and private keys through the local or online wallet. While it is recommended that all holders of Bacoin Coins protect and securely store their private keys, each holder is responsible for safeguarding the private keys applicable to their own wallets.

    21. Tax Matters Relating to Participation in The Coin Sale

    21.1 The tax status of Bacoin Coins and other tokens created by the Service(s) is uncertain. You must seek your own tax advice in connection with the acquisition, storage, transfer and use of Bacoin Coins and other tokens created by the Service(s), which may result in adverse tax consequences to you, including, without limitation, withholding taxes, transfer taxes, value added taxes, income taxes and similar taxes, levies, duties or other charges and tax reporting requirements.

    22. Risk of Privacy and Data Retention Issues

    22.1 As part of the token sale and the subsequent verification processes, or other events the Company may collect personal information from you. The collection of such information is subject to applicable laws and regulations. All information collected will be used for purposes of Token Sale and community management for the Service(s) and may be transferred to contractor, service providers and consultants worldwide as appointed by the Company. Apart from external compromises, the Company and its appointed entities may also suffer from internal security breach whereby their employees may misappropriate, misplace or lose personal information of you. The Company may be required to expend significant financial resources to alleviate problems caused by any breaches or losses, settle fines and resolve inquiries from regulatory or government authorities. Any information breaches or losses will also damage the Company reputation and thereby may harm its long term prospects.

    23. Price Volatility

    23.1 Many cryptographic coins have volatile prices. Large fluctuations in price over short timeframes occur frequently. Such fluctuations could result from market dynamics (including but not limited to speculations), regulatory changes, technical advancements, exchange availabilities and other factors that impact the equilibrium between coin supply and demand. In addition, the Company is not responsible for any secondary market trading of Bacoin Coins or other tokens created by the Service(s), regardless whether such markets exist for Bacoin Coins or other tokens.

    24. Risk of Malfunction in the Service(s)

    24.1 It is possible that the Service(s) malfunctions in an unfavorable way, including, but not limited to, one that results in the loss of Bacoin Coins or other tokens created by Service(s), or information concerning a market.

    25. Unanticipated Risks

    25.1 Cryptographic tokens such as Bacoin Coins are a new and untested technology. In addition to the risks set out in the White paper, the Terms of Sale, here and any other relevant documents, there are other risks associated with your acquisition, storage, transfer and use of Bacoin Coins or other tokens created by the Service(s), including those that the Company may not be able to anticipate. Such risks may further materialize as unanticipated variations or combinations of the risks set forth here.