The LoveChain- LOV Token Terms of Use and Policy

 

  1. These Terms of Use and Policy

1.1 These Terms of Use and Policy governs the use of The LoveChain’s LOV Tokens on the LoveChain Platform (“Terms”). There are additional Terms of Use-General to cover certain activities, services and general use of the LoveChain Platform, which will also be applicable to you.

1.2 Please read these terms carefully before you purchase or utilise the LOV Tokens. These terms will explain the key features of the LOV Tokens, how you can purchase them from the Platform or the Exchange, how we may change the LOV Token features and these terms and what to do if there is a problem, along with other important information. If you think that there is a mistake in these terms or require any changes, please contact us to discuss. We recommend that you print a copy of the Terms for future reference.

1.3 If you do not agree to these Terms or are not permitted to do so for any reason, you must not use the Platform or The LoveChain website or App.

1.4 “Writing” includes emails and via The LoveChain website or App. When we use the words “writing” or “written” in these terms, this includes emails and communication via The LoveChain website or App.

  1. Interpretation

The following definitions and rules of interpretation apply in these terms and conditions. Terms and rules of interpretation set out in the Terms of Use-General terms and conditions have the same meaning when used in these Terms.

2.1 Definitions:

Account: a User’s account on the Platform.

Applicable Laws: means any laws, policies, regulations or directives that may apply from time-to-time to the purchase and holding of LOV Tokens and the operation of The LoveChain Platform, The LoveChain App and the Exchange.

Contract: the contract between a User and The LoveChain for the sale and purchase of the LOV Tokens in accordance with the Terms.

Exchange: means one or more digital-crypto exchange(s) in which the LOV Token is listed on.

Fiat currency: currency that a government considers to be legal tender for any products or services, which is regulated by a central bank. Examples of such currencies include the US Dollar ($), the British Pound Sterling (£), the Euro (€), Australian Dollar ($) and so forth.

Force Majeure Event: an event or circumstance beyond a party’s reasonable control.

LOV Tokens: a LOV Token is a unit of value registered on a Crypto-digital exchange and which can be purchased on the Crypto-digital exchange for the purpose of: (a) trading the LOV Token on a Crypto-digital exchange; or (b) utilising the Services on the Platform such as acquiring products and/or services from The LoveChain’s merchant partners in The LoveChain marketplace. Further details on what LOV Tokens are and how they work are set out in clause 5 of these Terms.

LOV Token Order: a user’s order for LOV Tokens via the The LoveChain App or The LoveChain Website or the Exchange, which is confirmed in writing by selecting the ‘Buy Tokens’ button (or equivalent indication) on either the The LoveChain App or The LoveChain Website.

LoveChain Terms means The LoveChain’s:

 

and as updated from time to time.

 

Platform: the social networking platform owned and operated by The LoveChain Pty Ltd ACN 631 780 786 which is accessible via The LoveChain Website (www.thelovechain.io) or The LoveChain App.

Restricted Country: means the People’s Republic of China, the United States of America and any other country that we deem as a restricted country.

The LoveChain: The LoveChain Pty Limited ACN 631 780 786, a company registered in Australia, being the owner and operator of the Platform.

The LoveChain App: the mobile application which features the Platform and in respect of which The LoveChain provides the Services.

The LoveChain Website: means the www.thelovechain.io

User: a person registered on the Platform who has agreed to The LoveChain’s Terms and who has satisfied The LoveChain’s compliance requirements pursuant to Applicable Laws. This also includes the personal profile of a User on which Users can post comments, share ideas and thoughts, and which has a specific digital location on The LoveChain Platform.

Wallet: means a digital wallet that is created specifically to hold digital tokens and cryptocurrency, in particular the LOV Tokens.

 

  1. Additional Terms that are applicable

These LoveChain Terms are the additional terms and policies, which also apply to you and your use of The LoveChain Website, the Platform and The LoveChain App.

 

  1. Disclaimer and limitation of liability

4.1 The LOV Tokens which are available for purchase on the Exchange or the Platform for the sole purpose of utilising on the Platform or the Exchange. The availability of the LOV Tokens is not meant to be construed as an inducement or encouragement to purchase the LOV Tokens or for the LOV Tokens to be considered as an investment, a security or a financial product in any way.

4.2 There is no expectation of future profit or gain from the purchase or holding the LOV Tokens in their current form. The LOV Tokens do not represent:

(a) Any ownership or equity interest in or to The LoveChain;

(b) A right to vote in The LoveChain’s decision-making processes at the board or shareholder level;

(c) A right to participate in the annual general meeting or any other meeting of The LoveChain; and

(d) A right to receive dividends or other distribution rights based on the profits generated by The LoveChain.

4.3 The LoveChain is not, by virtue of making content available on the Platform (including information on any reward or referral programs) or within The LoveChain’s Whitepaper, providing advice to you or any person in relation to the purchase of the LOV Tokens. Any decision to purchase the LOV Tokens is solely your own and The LoveChain does not accept any responsibility and disclaims any and all liability in relation to any decision made by a User to purchase and hold the LOV Tokens for investment purposes.

4.4 The types of loss listed in this clause 4.4 are wholly excluded from any claim against The LoveChain by a User for:

(a) Loss of profits.

(b) Loss of sales or business.

(c) Loss of agreements or contracts.

(d) Loss of anticipated savings.

(e) Loss of use or corruption of software, data or information.

(f) Loss of or damage to goodwill.

(g) Loss of reputation.

(h) Injury to feelings.

(i) Indirect or consequential loss.

(j) Losses incurred by the User arising out of or in connection with any third-party claim against the User which has been caused by the act or omission of the User. For these purposes, third party claims shall include but not be limited to demands, fines, penalties, actions, investigations or proceedings.

4.5 For the avoidance of doubt, The LoveChain has used its best endeavours to ensure that there are appropriate technical and organisational measures, which are regularly reviewed and approved internally, to protect against the unauthorised or unlawful processing of data on the Platform and against accidental loss or destruction of, or damage to, data, and provided The LoveChain uses its best endeavours to rectify any technical issues with the Platform or in respect of the storage of Tokens, there shall be no fault or liability on the part of The LoveChain in respect of the same.

4.6 The LoveChain is not liable for any loss suffered by a User as a result of any technical fault or glitch, a security fault or any other sort of fault that the Exchange may experience at anytime causing the Exchange not to be operational for a period of time.

4.7 Subject to the preceding provisions of this clause 4, The LoveChain’s total liability to Users, irrespective of whether it arises under or in connection with these Terms, as a result of The LoveChain’s negligence, or any other act or omission of The LoveChain, shall be limited to:

(a) in the case of any loss of the Lov Tokens arising from a technical or security fault of the The LoveChain Platform and/or the Exchange, the number of LOV Tokens held by the User at the time immediately before the technical or security fault occurred.

4.8 Subject to the preceding provisions of this clause 4, unless the User notifies The LoveChain within the notice period that it intends to make a claim against The LoveChain for any reason, The LoveChain shall have no liability for that event. The notice period for an event shall start on the day on which The LoveChain became, or ought reasonably to have become, aware of the event having occurred and shall expire 2 months from that date. The notice must be in writing and must identify the event and the grounds for the claim in reasonable detail.

4.9 This clause 4 shall survive termination of these Terms.

 

  1. What is a LOV Token?

5.1 A LOV Token is a crypto token/cryptocurrency with a unit of value registered on the Exchange used by The LoveChain or a User that owns LOV Tokens.

5.2 You can use your LOV Tokens to purchase certain products and services on The LoveChain Platform and within The LoveChain’s marketplace.

5.3 The LOV Tokens are designed to be used on The LoveChain’s Platform only.

5.4 The LOV Tokens are not a means of investment or meant to be construed as income.

5.5 There will be a maximum number of 535 million LOV Tokens that will be issued during the lifetime of The LoveChain Platform.

 

  1. How can I get LOV Tokens?

You can get LOV Tokens in the following ways by buying LOV Tokens from:

(a) The LoveChain Platform, The LoveChain Website or The LoveChain App in exchange for Fiat Currency (e.g. USD ($), AUD ($), GBP (£), Euros (€), etc.);

(b) The LoveChain that are or are to be listed on an Exchange as part of an Initial Exchange Offering (“IEO”); or

(c) a third party in which the LOV Tokens may or may not be listed on an Exchange.

 

  1. What are LOVR Rewards Tokens and how can I get some?

7.1 A LOVR Reward Token (“LOVR Tokens”) is an internal token for the purposes of The LoveChain’s rewards program that has a unit of value that can be used by a User to purchase products and services on The LoveChain Platform and within The LoveChain’s marketplace.

7.2 You can accumulate LOVR Tokens in the following ways:

 

  • Based on a Users participation on the Platform;
  • From reward and referral programs that The LoveChain advertises from time to time;

(c) By performing such actions as posting content on the Platform, gaining followers, obtaining likes, sharing posts, and sharing data with advertisers;  (d) As a reward from The LoveChain for being socially active on the Platform, the amount of which will be determined at The LoveChain’s sole and absolute discretion and might be based on, but not limited to:

(i) How often you open The LoveChain App on your device;

(ii) How often you post content on the Platform;

(iii) How many followers your profile or account has;

(iv) How many likes your profile or account or something you post may have;

(v) The number of comments there are on your posts; or

(vi) How often and open you are to The LoveChain sharing and using your data (including personal data and information) and your behaviours on The LoveChain Platform with advertisers and other third parties that The LoveChain may engage or have a commercial arrangement with;

(vii) How often you engage with advertisements that appear on your profile or account on The LoveChain Platform.

(e) You may receive or provided to you in LOVR Tokens, and at The LoveChain’s sole discretion, a portion of the revenues that The LoveChain receives from placing third party advertisements on your profile or account on The LoveChain Platform.

7.3 From time to time you may also be able to buy LOVR Tokens from The LoveChain website by spending Fiat Currency (e.g. USD ($), AUD ($), GBP (£), Euros (€)). The LoveChain website may also allow LOVR Tokens to be purchased using other forms of cryptocurrency.

 

  1. LOV Token purchase process

Pre Initial Exchange Offering

8.1 Order and acceptance.

(a) A User can purchase LOV Tokens prior to the Initial Exchange Offering (“IEO”) on an Exchange through The LoveChain website at www.thelovechain.io. In order to ensure a smooth purchase process of LOV Tokens prior to the Initial Exchange Offering, The LoveChain requires Users to apply for LOV Tokens by completing and submitting an Application to Purchase LOV Tokens. The LoveChain will review and approve an Application that has been submitted and reserves the right to request further information about an applicant to be provided if it deems it necessary. The LoveChain will need to review and approve any information requested before you can place a Token Order. If you do not give us this information, or if you give us incomplete or incorrect information, you will not be able to place a Token Order. We will not be responsible for providing the Tokens late or not delivering any part of them if this is caused by you not giving us the information we need when we ask for it. Please note that it may take around 48 hours (and in some cases longer, depending on the number of LOV Tokens you wish to purchase) to request and review any information required.

(b) Once The LoveChain has confirmed that you have passed our compliance checks, you will be able to place a Token Order.

(c) The Token Order shall constitute an offer by the User to purchase the LOV Tokens in accordance with these terms and conditions. The User is responsible for ensuring that the terms of the Token Order such as the number of LOV Tokens to be purchased and the total price the User will pay for the Tokens are complete and accurate.

(d) The Token Order shall only be deemed to be accepted when The LoveChain issues a written acceptance of the Token Order, which will be as a notification via your account on the Platform, The LoveChain App or a confirmation email, at which point a contract shall come into existence. You will receive notification to confirm that your payment for the LOV Tokens has been received.

(e) The User waives any right it might otherwise have to rely on any term endorsed upon, delivered with or contained in any documents of the User that is inconsistent with these terms and conditions.

(f) A quotation of the total price for the LOV Tokens shown on The LoveChain App or The LoveChain Website shall not constitute an offer by The LoveChain.

(g) If we are unable to accept your Token Order, we will inform you of this in writing and will not charge you for the LOV Tokens. This might be because the LOV Tokens are out of supply, because you have not passed our background checks or because we have identified an error in the price or description of the LOV Tokens.

 

Initial Exchange Offering

8.2 Offer and acceptance

Any person can purchase the LOV Tokens when they are listed on an Exchange as part of an IEO. The process to purchase the LOV Tokens as part of an IEO is subject to the purchase requirements and rules and regulations of the Exchange and The LoveChain has no involvement in such process. For more information on the IEO process, or to complete and submit an application to acquire the LOV Tokens during the IEO process, please visit the following link <insert link> on the Exchange’s website.

 

  1. What is the price / value of the LOV Tokens?

Pre Initial Exchange Offering – Pre Sale Price

 

9.1 When the LOV Tokens are purchased prior to an Initial Exchange Offering (IEO), the pre-sale purchase price for a LOV Token is as follows:

 

$USD Amount Paid Price per LOV Token
>USD$250K USD$0.03
>USD$100 USD$0.038
>USD$50 USD$0.042
>USD$10 USD$0.046
<USD$10K No discounts

 

9.2 The total price of the LOV Tokens you wish to purchase will be displayed on The LoveChain App when you select the ‘Buy Tokens’ button and calculated as follows:

(i) N x P = Total price;

(ii) Where N = number of Tokens you wish to purchase;

(iii) P = Price per Token as set out in clause 9.1.

9.3 The LoveChain may, at its sole and absolute discretion, by giving notice to the User at any time, increase the price per LOV Token to reflect any increase in the cost of operating The LoveChain Platform or business or for any other commercial reason. If The LoveChain increases the price per LOV Token after you have confirmed your purchase, the increase will only apply to the next purchase of LOV Tokens that you undertake.

9.4 If applicable, the price per LOV Token excludes the cost of any value added tax or any sales taxes or levies under any Applicable Laws.

9.5 You will need to pay for the LOV Tokens before they are delivered to your Wallet.

9.6 You will need to pay for all amounts due for each LOV Token purchase in full without any set-off, counterclaim, deduction or withholding (except for any deduction or withholding required by law).

9.7 Once a User purchases LOV Tokens such purchase is final without any cooling-off period and all payments are non-refundable. However, in the event The LoveChain fails to deliver the LOV Tokens to your Wallet within 10 Business Days due to a fault of The LoveChain, then the User will be entitled to a full refund and will not receive the LOV Tokens.

9.8 The LoveChain may at any time, without limiting any other rights or remedies it may have, set off any amount owing to it by you against any amount payable by The LoveChain to you. For example, where The LoveChain intends to reward you with LOV Tokens pursuant to these Terms, we may instead provide you with credit in Fiat Currency, which can be utilised within a period of time, for your next purchase of LOV Tokens.

9.9  Invoice and delivery by download.

(a) The LoveChain shall ensure that each delivery of the LOV Tokens to your Wallet is accompanied by an invoice by email that shows the date of the LOV Token Order, the type and quantity of the LOV Tokens (including the code number of the LOV Tokens, where applicable), the price per LOV Token and the total price of the LOV Tokens.

(b) Delivery of the LOV Tokens is completed when you select to ‘Download’ the purchased LOV Tokens to your Wallet and it is updated with the new number of LOV Tokens in your possession. The LOV Tokens you purchased should arrive in your Wallet within 3 Business Days from the date you select ‘Download’.

(c) The LoveChain will make the LOV Tokens available to download to your Wallet as soon as you have made payment for them.

(d) We are not responsible for delays outside our control. If the download of the LOV Tokens to your Wallet is delayed by an event outside our control (Force Majeure Event) then we will contact you as soon as possible to let you know and we will take steps to minimise the effect of the delay. Provided we do this we will not be liable for delays caused by the event, but if there is a risk of substantial delay you may contact us to end the Contract and receive a refund for any LOV Tokens you have paid for but not received.

(e) If The LoveChain fails to deliver the LOV Tokens to your Wallet within 10 Business Days due to a fault of The LoveChain, then The LoveChain’s liability shall be limited to the price of the LOV Tokens at the time of purchase only. The LoveChain shall have no liability for any failure to deliver the Tokens to the extent that:

(i) such failure is caused by a Force Majeure Event;

(ii) you breach the Terms to such extent that The LoveChain exercises its right to terminate the Terms and / or suspend your Account;

(iii) you fail to maintain yourself as a User; or

(iv) the security on your device is compromised.

 

Title to the LOV Tokens – Pre IEO

 

9.10 Title to the LOV Tokens shall not pass to you until The LoveChain receives payment in full (in cash or cleared funds) for the LOV Tokens and you receive the LOV Tokens in your wallet.

 

Initial Exchange Offering – Listing Price

 

9.11 When the LOV Tokens are listed on an Exchange as part of an IEO, the initial listing price of each LOV Token will be determined by the forces of supply and demand on any given day. Over time the price of the LOV Token will change and fluctuate.

9.12 The LOV Tokens have a specific function on The LoveChain Platform and are not meant to be treated as an investment, and may not necessarily appreciate in value.

9.13 If The LoveChain considers changing the attributes of the LOV Tokens, including whether their price or value will change, The LoveChain will notify Users before making the change.

 

Title to the LOV Tokens – IEO

 

9.14 Title to the LOV Tokens shall not pass to you until the Exchange receives payment in full (in cash or cleared funds) for the LOV Tokens and you receive the LOV Tokens in your wallet.

9.15 Ordinarily it can take 2 to 3 Business Days, however, The LoveChain is unable to guarantee the timeframe in which LOV Tokens that have been purchased as part of the IEO process or off an Exchange are delivered into a persons Wallet.

 

  1. LOV Tokens warranty

10.1 The LoveChain warrants that on delivery, the LOV Tokens shall:

(a) conform in all material respects with their description; and

(b) be fit for any purpose held out by The LoveChain in the Terms or on The LoveChain Platform and/or the Exchange, as to what the LOV Tokens can be utilised for.

10.2 Subject to clause 10.1(c), if:

(a) you give notice in writing to The LoveChain within 5 Business Days of discovery that some or all of the LOV Tokens do not comply with the warranty set out in clause 10.1;

(b) The LoveChain is given a reasonable opportunity of examining such LOV Tokens; and

(c) you (if asked to do so by The LoveChain) returns such LOV Tokens to The LoveChain, The LoveChain shall, at its option, repair or replace the defective LOV Tokens, or refund the price of the defective LOV Tokens in full.

10.3 The LoveChain will not be liable for LOV Tokens’ failure to comply with the warranty set out in clause 10.1:

(a) you make any further use of the LOV Tokens after giving notice in accordance with clause 10.2;

(b) the defect arises because you fail to follow the Terms or The LoveChain’s written instructions as to the use and maintenance of the LOV Tokens;

(c) you alter the LOV Tokens without the written consent of The LoveChain;

(d) the LOV Tokens differ from their description as a result of changes made to ensure they comply with Applicable Laws.

10.4 Except as provided in this clause 10, The LoveChain shall have no liability to you in respect of the LOV Tokens’ failure to comply with the warranty set out in clause 10.1.

10.5 These Terms shall apply to any repaired or replacement LOV Tokens supplied to you by The LoveChain.

 

  1. Background checks

11.1 The Exchange has the right to request certain background information, such as proof of identification, proof of address and proof of origin of funds from you before agreeing to accept a LOV Token Order. For more information on what the Exchange requires and their process please visit www.probit.com/en-us/.

11.2 The LoveChain has the right (if deemed necessary) to request certain background information, such as proof of identification, proof of address and proof of origin of funds from you before agreeing to accept a LOV Token Order.

11.3 The LoveChain is entitled to take up to 48 hours to review the information and documentation you provide before agreeing to process any LOV Token Order. If we have any questions regarding the information you provided or require further information, then we will require you to provide the necessary responses or information before we agree to accept the LOV Token Order.

11.4 The LoveChain will normally make such requests in circumstances where you wish to purchase LOV Tokens, in a single transaction or a series of transactions taking place within 7 days of each other, in an amount which is equal to or higher than $500.

 

  1. What can I do with my LOV Tokens?

12.1 You can use your LOV Tokens to do the following things:

(a) buying goods and services from within The LoveChain marketplace;

(b) deriving discounts for goods and services through The LoveChain marketplace;

(c) participating in certain online challenges, competitions, lotteries and games;

(d) buying advertisements on The LoveChain Platform (if you are a business User); and

(e) Gift LOV Tokens to other Users.

 

  1. Can I sell or trade my LOV Tokens?

13.1 The LOV Tokens in their current form are designed so you are able to sell or trade your LOV Tokens that are listed on the Exchange. For more information on this process visit www.probit.com/en-us/.

13.2 The LOV Tokens cannot be traded or sold through The LoveChain Platform or market place. The LOV Tokens can only be used in The LoveChain marketplace to purchase goods and services offered for sale in The LoveChain marketplace.

13.3 If The LoveChain changes its policy on the sale or trade of Tokens, including whether to create an internal marketplace to trade and sell the LOV Tokens on The LoveChain Platform, The LoveChain will notify Users before making such changes.

13.4 The LoveChain is under no obligation to make any changes to how the LOV Tokens are used, purchased or earned or any other features that are attributed to them. Should there be any changes to the features of the LOV Tokens, we will notify you via The LoveChain Platform or email.

 

  1. What happens if my LOV Tokens are lost?

14.1 For the avoidance of doubt, The LoveChain uses its best endeavours to ensure that there are appropriate technical and organisational measures, which are regularly reviewed and approved internally, to protect against the unauthorised or unlawful processing of data on The LoveChain Platform and against accidental loss or destruction of, or damage to, data, and provided The LoveChain uses its best endeavours to rectify any technical issues with The LoveChain Platform or in respect of the storage of LOV Tokens, there shall be no fault or liability on the part of The LoveChain in respect of the same.

14.2 Subject to the preceding provisions of this clause 14.1, The LoveChain’s total liability to Users, irrespective of whether it arises under or in connection with these Terms, as a result of The LoveChain’s negligence, or any other act or omission of The LoveChain, shall be limited to, in the case of any loss of LOV Tokens arising from a technical or security fault of The LoveChain Platform, the number of LOV Tokens held by the User at the time immediately before the technical or security fault occurred. The LoveChain will not be at fault or liable for any action, technical issues, security fault, unauthorised or unlawful processing of data, accidental loss or destruction of, or damage to, data or a Users LOV Tokens that is caused by an Exchange or a security fault to the Exchange or bugs or viruses that affect the Exchange.

14.3 However, we will not re-issue you with LOV Tokens in respect of loss or damage that:

(a) you could have avoided by:

(i) following our advice to apply an update offered to you free of charge;

(ii) keeping your Login Details confidential; or

(iii) keeping your device safe;

(b) was caused by you:

(i) permitting other individuals or Users from accessing your Account;

(ii) as a result of you breaching any of the Terms with us;

(iii) failing to correctly follow installation instructions;

(iv) transferring the LOV Tokens from your Wallet to an external cryptocurrency Wallet; or

(v) failing to have in place the minimum system requirements advised by us.

14.4 You are responsible for configuring your devices, device settings, information technology to access The LoveChain Platform. You are also responsible for establishing a suitable Wallet that can accept and hold the LOV Tokens. You should use your own virus protection software.

14.5 We do not guarantee that The LoveChain Platform will be secure or free from bugs or viruses.

14.6 Notwithstanding that we may re-issue you LOV Tokens under clause 14.2, we have no liability to you for any loss of profit, loss of business, business interruption, or loss of business opportunity whether or not the reason for any such loss arises from a technical or security fault of The LoveChain Platform or the Exchange.

 

  1. The LoveChain may suspend the sale of LOV Tokens

15.1 The LoveChain may have to suspend the sale of LOV Tokens during either the pre IEO stage or at the IEO stage to:

(a) deal with technical problems or make minor technical changes;

(b) update the LOV Tokens to reflect changes in Applicable Laws; or

(c) make changes to the LOV Tokens or to introduce new types of tokens that The LoveChain may develop in the future.

15.2 Where possible, we will provide you with reasonable notice of any suspension on the sale of the LOV Tokens in accordance with the Terms.

 

  1. Where are the LOV Tokens stored? / Token Wallet

16.1 You will have an internal compliant Wallet within the The LoveChain Platform or The LoveChain App created for you from which you can manage your LOV Tokens.

16.2 You can use the Wallet to:

(a) view the total balance of your LOV Tokens;

(b) view your transactions history in relation to the number of LOV Tokens you have purchased;

(c) transfer LOV Tokens from the Wallet to certain approved external cryptocurrency wallets;

(d) transfer the LOV Tokens out of the Wallet so they can be sold or traded on the Exchange.

16.3 We accept no responsibility for the security of your LOV Tokens if you transfer them to external cryptocurrency wallets.

16.4 You cannot use the Wallet to do the following:

(a) sell your LOV Tokens; or

(b) deposit cryptocurrency from external cryptocurrency wallets.

16.5 The sale of LOV Tokens must be done through the Exchange on which the LOV Tokens are listed.

 

  1. How will my LOV Tokens be kept secure?

17.1 The LoveChain will use the latest technology in Wallet security to ensure that LOV Tokens held via the Platform meet acceptable security standards.

17.2 For further details or any queries regarding the security of your Wallet, please contact us by writing to us at [email protected].

 

  1. Reward programs

18.1 The LoveChain may from time to time and at its sole and absolute discretion, implement reward programs in relation to the purchase of LOV Tokens and/or participation on The LoveChain Platform.

18.2 The LoveChain may implement reward programs in which Users can receive reward tokens known as LOVR Tokens.

18.3 Some of the reward programs that The LoveChain may implement, include, but are not limited to:

(a)      LOVR Tokens or cash prizes for weekly or monthly best posts;

(b)      individual prizes for best video, best photo, best literature, best comment as voted by The LoveChain community;

(c)      random LOVR Tokens or cash prizes every week to Users who will be tasked with spoiling their loved ones and posting the evidence on their profile;

(d)      one in every five or ten thousand Users who join The LoveChain Platform will win LOVR Tokens or a cash prize just for joining The LoveChain Platform;

(e)      LOVR Tokens and cash prizes for participating in competitions in the lead up to holidays such as Valentine’s Day, XiXi Festival, Christmas and other significant holidays around the World;

(f)       LOVR Tokens and cash prizes in the lead up to wedding seasons on each continent including contributions to honeymoons, ceremonies and may include contributions from merchant partners.

18.4 A User can only use a LOVR Token once.

18.5 The LoveChain may at any time and at its sole and absolute discretion, add additional LOVR Tokens or other type of rewards tokens at any time or change the rewards or allowed use associated with the LOVR Tokens.

18.6 The LoveChain may at any time and at its sole and absolute discretion remove a rewards program (including the LOVR Tokens program) at any time in its sole and absolute discretion without notifying Users you in advance.

18.7 Further details of The LoveChain reward programs will be available from time to time on thelovechain.io.

 

  1. No Refunds

The purchase of LOV Tokens is non-refundable and there is no cooling-off period after your purchase. However, once you have purchased your LOV Tokens you are able to sell them to a third party through the Exchange that the LOV Tokens are listed on.

 

  1. Our rights to make changes

20.1 Minor changes to the LOV Tokens. We may change the attributes of the LOV Tokens:

(a) to reflect changes in the Applicable Laws and regulatory requirements, which may change the way in which LOV Tokens are used on The LoveChain Platform, The LoveChain App or the Exchange;

(b) to implement minor technical adjustments and improvements, for example to address a security threat. These changes will not affect your use of the LOV Tokens.

20.2 More significant changes to the LOV Tokens and these Terms. In addition, as mentioned on The LoveChain website, we may make the following changes to these Terms or the LOV Tokens, but if we do so we will notify you in advance and rather than change the LOV Tokens, we may create a new type of tokens.

20.3 We may update or require you to update you’re the LoveChain App, provided that the LOV Tokens shall always match the description and attributes that we provided to you before you bought them. However, the updated The LoveChain App may allow you, but not require you, to purchase any new type of tokens that The LoveChain creates or introduces.

 

  1. Restricted Countries

21.1 The LoveChain recognises that certain jurisdictions, such as the People’s Republic of China or the United States of America (a Restricted Country), do not allow the public trading of cryptocurrencies due to regulatory concerns.

21.2 The LoveChain maintains that the LOV Tokens are not marketed as, held out to be, or utilised, as security tokens or investment products on The LoveChain Platform or otherwise, and therefore The LoveChain does not prohibit residents of a Restricted Country from using The LoveChain Platform, The LoveChain App or purchasing LOV Tokens.

21.3 If you are:

(a) a resident of a Restricted Country; and

(b) are advised or informed that the governing laws of that jurisdiction prohibit you from being a User on The LoveChain Platform, The LoveChain App or to purchase or hold LOV Tokens or any form of cryptocurrencies or trade on the Exchange by either:

(i) a lawyer qualified in the Restricted Country; or

(ii) a governing authority of the Restricted Country, then you must inform us immediately in order that we may take the necessary steps pursuant to clause 21.4.

21.4 If at any time, The LoveChain is advised or believes that a resident of Restricted Country should not be registered as a User on the on The LoveChain Platform, The LoveChain App or to purchase or hold LOV Tokens or any form of cryptocurrencies or trade on the Exchange as a result of regulatory issues in the Restricted Country, we will take the appropriate steps to deregister Users from Restricted Countries from The LoveChain Platform and we will notify the Exchange on which they hold the LOV Tokens. Should this occur, Users shall not be entitled to a refund of any LOV Tokens they have purchased.

21.5 We may update our policy regarding the use of the The LoveChain Platform, The LoveChain App and the LOV Tokens by residents of a Restricted Country depending on how the Applicable Laws in that jurisdiction develop from time to time, however we have no obligation to change our policies.

 

  1. Your obligations to us

You must comply with the obligations set out in this Policy and terms and The LoveChain Terms which are applicable to you.

 

  1. Termination

23.1 Without affecting any other right or remedy available to it, The LoveChain may terminate these Terms, including your access to The LoveChain Platform, The LoveChain App, the Exchange and to your LOV Tokens, with immediate effect by giving written notice to you if:

(a) you use the LOV Tokens in any way which is inconsistent with these terms and policy or The LoveChain Terms;

(b) you commit a breach of these terms and policy or The LoveChain Terms, which breach can not be remedied or (if such breach is remediable) you fail to remedy that breach within a period of 2 Business Days after being notified to do so;

(c) you repeatedly breach these terms and policy or The LoveChain Terms in such a manner as to reasonably justify the opinion that your conduct is inconsistent with you having the intention or ability to comply with these terms or policy;

(d) if you are a business, you take any step or action in connection with your entering administration, provisional liquidation or any composition or arrangement with your creditors (other than in relation to a solvent restructuring), being wound up (whether voluntarily or by order of the court, unless for the purpose of a solvent restructuring), having a receiver appointed to any of your assets or ceasing to carry on business or, if the step or action is taken in another jurisdiction, in connection with any analogous procedure in the relevant jurisdiction;

(e) if you are a business, you suspend or cease, or threaten to suspend or cease, carrying on all or a substantial part of your business;

(f) you fail to pay any amount due in connection with the LOV Tokens on the due date for payment and remain in default not less than 7 Business Days after being notified to make such payment;

(g) we are notified that you have committed an act of Gross Misconduct;

(h) you are convicted of a criminal offence;

(i) you seek to generate or earn LOV Tokens through the use of bots;

(j) you recruit third parties to generate LOV Tokens on your behalf;

(k) you disassemble, decompile or otherwise attempt to reverse engineer any portion or component of the LOV Tokens, The LoveChain Platform, The LoveChain App or the Exchange;

(l) you use the LOV Tokens for any purpose, at any location or in any manner not specifically authorised by The LoveChain;

(m) you make or retain any copy of the LOV Tokens outside of The LoveChain Platform or The LoveChain App;

(n) you sell, market, license, sublicense, distribute or otherwise grant to any third party, including any outsourcer, vendor, consultant or partner, any right to use the LOV Tokens which is not authorised by The LoveChain;

(o) if you create multiple Accounts and use the Accounts to generate more LOV Tokens;

(p) you use the LOV Tokens in any unlawful manner, for any unlawful purpose, or in any manner inconsistent with these terms and Policy or The LoveChain Terms, or act fraudulently or maliciously, for example, by selling LOV Tokens on third party websites or hacking into or inserting malicious code, including viruses, or harmful data, into The LoveChain Platform, The LoveChain APP or the Exchange for the purpose of stealing or destroying LOV Tokens;

(q) if you use the LOV Tokens in any way that may damage, disable, overburden, impair or compromise The LoveChain’s systems or security or interfere with the use of The LoveChain Platform, The LoveChain App or the Exchange by other Users;

(r) if you use or employ any technology in conjunction with, or as a plug in to, The LoveChain Platform, The LoveChain App or the Exchange which has not been authorised by The LoveChain, including but not limited to adblocking software;

(s) if you withhold or provide The LoveChain with inaccurate information further to The LoveChain’s request for any information required pursuant to any Applicable Laws.

23.2 If The LoveChain discovers you have committed an act under clauses 22 or 23 or breach these terms and Policy or The LoveChain Terms, we may:

(a) cease providing the services to you through The LoveChain Platform or The LoveChain App;

(b) prohibit or block your access to the The LoveChain Platform, The LoveChain App or report you to the Exchange;

(c) terminate The LoveChain Terms between us and you;

(d) immediately suspend or terminate your Account and remove and delete your User account on The LoveChain Platform, The LoveChain App or Exchange including any content from The LoveChain App and the Exchange. All data relating to you which is held by us at the time of termination shall be stored and deleted by us in accordance with our privacy policy; and

(e) block your access to the LOV Tokens and hold your LOV Tokens in a separate wallet on trust until we determine, in our reasonable discretion, whether or not to return the LOV Tokens or destroy them after a period of 6 months.

 

  1. Compliance with laws and policies

In performing our respective obligations under these terms and policy, you and we both agree to comply with the Applicable Laws and each of us will inform the other party as soon as either of us becomes aware of any breaches by the other party of, or changes in, the Applicable Laws which affects the subject matter of these terms and policy.

 

  1. Commencement and duration

The Terms shall commence on the date you either purchase LOV Tokens, register an Account as a User on The LoveChain Platform or download The LoveChain App, whichever occurs first and shall continue indefinitely unless you sell your LOV Tokens and delete your Account as User on The LoveChain Platform or The LoveChain App or unless terminated in accordance with clause 23.

 

  1. Dispute resolution

26.1 If any dispute arises regarding any obligation of either party pursuant to the Terms:

(a) either party shall give to the other written notice of the dispute, setting out its nature and full particulars, together with relevant supporting documents;

(b) on service of the Dispute Notice, the parties shall attempt in good faith to resolve the dispute;

(c) if for any reason the parties are unable to resolve the dispute within 7 Business Days from the date of the Dispute Notice, the parties agree to enter into firstly mediation (then if there isn’t a satisfactory resolution then enter into arbitration) in good faith to settle the dispute in accordance with the Mediation and Arbitration Rules of the Australian Centre for International Commercial Arbitration (ACICA) that are current at the time, in which case the decision of the mediator or arbitrator shall be final and binding; and

(d) no party may commence any court proceedings in relation to the whole or part of the dispute until completion of mediation or written agreement by both parties that the dispute cannot be resolved by mediation or arbitration, provided that the right to issue proceedings is not prejudiced by a delay.

 

  1. General

27.1 Changes to these terms and Policy: The LoveChain may need to amend these terms and Policy to reflect changes in any Applicable Laws, best practice, to deal with additions to The LoveChain Platform or for any other reason deemed appropriate and reasonable by The LoveChain. The LoveChain will notify you at least 20 Business Days in advance of any changes to these terms and Policy by sending an email with details of the changes or notifying you of the change when you next access The LoveChain Platform or The LoveChain App.

27.2 No partnership or agency: Nothing in these terms and Policy is intended to, or shall be deemed to, establish any partnership or joint venture between you or us, constitute either you or us as the agent of the other party, or authorise you or us to make or enter into any commitments for or on behalf of any other party. You confirm you are acting on your own behalf and not for the benefit of any other person.

27.3 Entire agreement: The terms and Policy constitute the entire agreement between you and us and supersede and extinguish all previous agreements, promises, assurances, warranties, representations and understandings between you and us, whether written or oral, relating to its subject matter. You acknowledge that in entering into the terms and Policy, you do not rely on any statement, representation, assurance or warranty (whether made innocently or negligently) that is not set out in the terms and Policy. You agree that you shall have no claim for innocent or negligent misrepresentation or negligent misstatement based on any statement in the terms or Policy. Nothing in this clause shall limit or exclude any liability for fraud.

27.4 Assignment and other dealings: These terms and Policy are personal to the parties and neither party shall assign, transfer, mortgage, charge, subcontract, declare a trust over or deal in any other manner with any of its rights and obligations under these terms or Policy.

27.5 Waiver: No failure or delay by us to exercise any right or remedy provided under these terms or Policy or by law shall constitute a waiver of that or any other right or remedy, nor shall it prevent or restrict the further exercise of that or any other right or remedy. No single or partial exercise of such right or remedy shall prevent or restrict the further exercise of that or any other right or remedy.

27.6 Severance: If any provision or part-provision of the terms or Policy is or becomes invalid, illegal or unenforceable, it shall be deemed modified to the minimum extent necessary to make it valid, legal and enforceable. If such modification is not possible, the relevant provision or part-provision shall be deemed deleted. Any modification to or deletion of a provision or part-provision under this clause shall not affect the validity and enforceability of the rest of the terms or Policy. If one party gives notice to the other of the possibility that any provision or part-provision of the terms or Policy is invalid, illegal or unenforceable, the parties shall negotiate in good faith to amend such provision so that, as amended, it is legal, valid and enforceable, and, to the greatest extent possible, achieves the intended commercial result of the original provision.

27.7 Notices:

(a) Any notice or other communication given to a party under or in connection with the terms or Policy shall be in writing and shall be:

(i) sent by email to that party’s main email address or any relevant email address of The LoveChain provided in the terms or the Policy; or

(ii) sent as a notification or message via The LoveChain Platform or The LoveChain App or on The LoveChain’s  website;

(b) Any notice or communication shall be deemed to have been received:

(i) if sent by e-mail, at the moment of transmission provided the email is accompanied by a delivery receipt; and

(ii) if sent by a notification or message via the The LoveChain App, at the moment a notification via the The LoveChain App is received on the party’s device (if via The LoveChain App);

(c) This clause does not apply to the service of any proceedings or other documents in any legal action or, where applicable, any arbitration or other method of dispute resolution.

27.8 Third party rights: No one other than a party to these terms or Policy shall have any right to enforce any of its terms.

27.9 Governing law & Jurisdiction: If you are a User, the laws of the country in which you reside will apply to any claim, cause of action or dispute that you have against us that arises out of or relates to these terms or Policy, and you may resolve your claim in any competent court in that country that has jurisdiction over the claim. In all other cases, you agree that the claim must be resolved in the non-exclusive jurisdiction of the courts of New South Wales, Australia and you submit to the non-exclusive jurisdiction of the courts of New South Wales for the purpose of litigating any such claim and any courts which have jurisdiction to hear appeals from any of those courts and you waive any right to object to any proceedings being brought in those courts. You also agree that he laws of the State of New South Wales will govern these Terms of Use without regard to conflict of law provisions.

 

  1. Contact information

The LoveChain Platform is provided by The LoveChain Pty Ltd. If you have any questions or complaints with respect to the Platform or our services, please contact Lovechain at [email protected].

 

  1. Other terms and policies

Below is a list of other of The LoveChain’s terms and policies that may apply to you while using our Platform:

 

Terms of Use-General

Terms of Service – Image Content

Privacy and Data Policy

Personal Information Collection Statement

Copyright Infringement Notices re Image Content

LoveChain Community Standards

 

Date of latest version: 11 February 2020