Terms of Acquisition
TERMS OF ACQUISITION OF SYMM TOKENS
First published on: 16/12/2024 Last revised on: 16/12/2024
IMPORTANT NOTICE: These Terms of Acquisition of SYMM Tokens (“Terms”) govern the voluntary allocation and acquisition of SYMM Tokens (“SYMM Tokens”) by you as a recipient (“You” or the “Receiver”) from Symmio Protocol (“Protocol” or “we”). By accepting SYMM Tokens, You agree to be bound by these Terms. If You do not agree to all provisions herein, do not accept or proceed with any allocation, selling, staking, or related actions. The Symmio Foundation, duly incorporated and registered in the Cayman Islands with the Company Number, CP-407195 and the Registered address at Suite #5-204, 23 Lime Tree Bay Avenue, P.O. Box 477, Grand Cayman, Cayman Islands, KY1 1108 - Cayman Islands
These Terms incorporate by reference any documents expressly referred to herein and shall supersede any conflicting language in any other documents regarding the allocation of SYMM Tokens.
Please read these Terms carefully and, if necessary, consult with legal, tax, financial and any other professional advisors before accepting any SYMM Tokens.
1. INTRODUCTION AND PURPOSE
1.1 Scope. These Terms govern the allocation and receipt of SYMM Tokens by any individuals or entities who, at any previous time, voluntarily burned DEUS as part of a process that was intended to result in the eventual distribution of SYMM Tokens. While participants who burned DEUS did so under an expectation that they would receive SYMM Tokens, the specific quantities, ratios, and timings of allocation were not definitively determined at that time. No specific terms (quantities, ratios, rates or deadlines) were promised, warranted, represented or guaranteed.
1.2 No Pre-Sale; No Proceeds to the Protocol. The allocation of SYMM Tokens does not constitute a pre-sale, initial coin offering (ICO), or any other fundraising mechanism. When DEUS was burned, it was destroyed and did not financially benefit the Protocol. The Protocol did not receive any monetary proceeds, profits, or any other financial or other gain from the DEUS burn event.
1.3 Uncertain Ratios and Values. At the time You burned DEUS, the exact ratio of DEUS burned to SYMM Tokens allocated was not fixed or determined in any way, and the ultimate amount of SYMM Tokens You receive may vary from initial expectations, which you, as a burner of DEUS tokens, fully agreed with and accepted at the time of burning. Similarly, the value of DEUS at the time of burning, the value of SYMM at allocation, and any future market price are subject to uncertainty, which you, as a burner of DEUS token, fully agreed with and accepted at the time of burning. The Protocol makes no representation, warranty, or guarantee regarding the future price, liquidity, functionality, utility or value of SYMM Tokens.
2. DEFINITIONS
For the purposes of these Terms:
“DEUS”: The DEUS cryptographic token that You previously burned.
“SYMM Tokens” or “SYMM”: The utility tokens issued by the Protocol to recipients who at any previous time elected to burn DEUS tokens, all in accordance with these Terms.
“Burn Event”: The event or process wherein participants destroyed their DEUS tokens with the understanding that they would receive SYMM Tokens at a later time, subject to the conditions outlined herein.
“Receiver” or “You”: The individual or entity who previously burned DEUS and is now eligible to receive SYMM Tokens according to these Terms.
“Protocol”: The Symmio Protocol and its affiliates, successors, and assigns.
3. NATURE OF ACQUISITION
3.1 Non-Refundable Action. The DEUS You burned cannot be recovered or reversed. The action of burning DEUS was not a transaction that conferred a financial payment or any other financial or other benefit to the Protocol. You acknowledge that by burning DEUS, You did not provide the Protocol with funds or other assets from which the Protocol derived any profit, revenue or any other financial value or gain.
3.2 Expectation of SYMM Allocation. You took the action of burning DEUS with the understanding that You would receive SYMM Tokens, whereas you agreed and fully accepted that the quantity and timing of SYMM allocation were uncertain and subject to discretionary decision on behalf of the SYMM token (future) issuer, taking into account (at time) different future factors such as market and project developments considerations and conditions. Additional factors influencing the ultimate allocation included, but were not limited to, the total amount of DEUS burned by all participants and the Protocol’s ultimate distribution model for SYMM.
3.3 No Guaranteed Ratios or Values. At the time You burned DEUS, you understood that there was no fixed or guaranteed exchange ratio between DEUS and SYMM. Past, present, or future prices or values of DEUS or SYMM have no direct bearing on the quantity of SYMM allocated to You. Your historical purchase price of DEUS is unrelated to the final allocation or value of SYMM Tokens You receive.
3.4 Utility Tokens. SYMM Tokens are intended to function solely as utility tokens within the Protocol’s ecosystem. They do not represent equity, ownership, profit-sharing rights, or any form of financial instrument. Holding SYMM does not grant You any voting rights, rights to dividends, profit distribution rights or any other financial rights or claims against the Protocol’s assets or revenues.
4. ALLOCATION PROCESS AND CONDITIONS
4.1 Allocation Mechanics. The Protocol will allocate SYMM Tokens to Receivers in accordance with a methodology determined at the Protocol’s sole and exclusive discretion. The methodology may consider factors such as total DEUS burned, ecosystem and project development needs, or other parameters. The Protocol may communicate details about the allocation model through official channels prior to or concurrent with distribution.
4.2 Staking and Lockups. Allocated SYMM Tokens may be subject to lockup periods, transfer restrictions, or staking mechanisms designed to foster long-term ecosystem stability. The Protocol may require certain conditions to be met before SYMM Tokens become freely transferable or fully claimable.
4.3 No Obligation to Deliver Specific Timelines. The Protocol will make reasonable efforts to deliver SYMM Tokens to eligible Receivers in a timely manner. However, the Protocol does not guarantee delivery dates and shall not be liable for delays caused by technical challenges, regulatory requirements, or other factors beyond its control.
5. ACKNOWLEDGEMENTS AND REPRESENTATIONS
By accepting these Terms and the SYMM Tokens allocated to You, You represent, warrant, and acknowledge that:
5.1 No Reliance on Fixed Terms. You did not burn DEUS based on any representation, promise, or guarantee regarding a specific ratio, amount, or value of SYMM Tokens You would receive. You acknowledge that any initial or informal indications of quantity or value were subject to change and uncertainty which you fully accepted and agreed with.
5.2 Independent Judgment. You have conducted Your own research and due diligence regarding the Burn Event, DEUS, and SYMM. You have not relied on any oral or written statements, promises, or guarantees by the Protocol or any third parties beyond what is explicitly stated in these Terms or official Protocol documentation.
5.3 Regulatory and Legal Compliance. You understand that the regulatory and legal status of blockchain tokens may vary by jurisdiction. You are responsible for understanding and complying with all applicable laws, regulations, and taxation responsibilities associated with holding or transacting SYMM Tokens.
5.4 Risk Assumption. You acknowledge the inherent risks in receiving, holding, and using blockchain-based tokens, including but not limited to: technological failures, market volatility, regulatory uncertainties, and the potential loss of all token value.
6. LIMITATIONS OF LIABILITY AND DISCLAIMER
6.1 No Liability for Burned DEUS. The Protocol is not liable for any loss (financial or otherwise) You incurred by burning DEUS, nor for any differences in the value of DEUS at various times or the ratio at which SYMM Tokens were ultimately allocated.
6.2 No Warranties. SYMM Tokens are provided “as is” and “as available” without warranties of any kind, either express or implied. The Protocol disclaims all warranties, including those regarding merchantability, fitness for a particular purpose, or non-infringement.
6.3 Indirect Damages. To the fullest extent permitted by law, the Protocol shall not be liable for any indirect, incidental, special, punitive, or consequential damages arising out of or in connection with these Terms, the Burn Event, or the allocation of SYMM Tokens, even if advised of the possibility of such damages.
7. KYC AND COMPLIANCE REQUIREMENTS
7.1 Identity Verification. The Protocol may require You to complete Know Your Customer (KYC) procedures before or after allocating SYMM Tokens. Failure to comply may result in delayed or withheld allocations.
7.2 Legal and Regulatory Disclosures. The Protocol may request information or documentation from You to comply with applicable laws or regulations. You agree to promptly provide accurate and complete information when requested.
8. CONFIDENTIALITY
8.1 Confidential Information. Information exchanged in relation to these Terms that is not publicly available shall be treated as confidential and shall not be disclosed to any third party without the prior written consent of the Protocol or unless required by applicable law.
9. TERMINATION AND FORCE MAJEURE
9.1 Termination. These Terms remain in effect until they are fulfilled or terminated in accordance with their provisions. The Protocol may terminate these Terms if You breach them or if required by applicable law or regulatory actions.
9.2 Force Majeure. Neither Party shall be liable for delays or failure to perform due to causes beyond its reasonable control, including acts of God, governmental actions, or technological disruptions.
10. DISPUTE RESOLUTION
10.1 Governing Law. These Terms shall be governed by and construed in accordance with the laws of [Jurisdiction], without regard to its conflict of law principles.
10.2 Jurisdiction. The courts located in [Jurisdiction] shall have exclusive jurisdiction to resolve any disputes arising out of or in connection with these Terms, unless the Parties mutually agree to alternative dispute resolution methods.
11. MISCELLANEOUS
11.1 Entire Agreement. These Terms constitute the entire agreement between You and the Protocol regarding the burning of DEUS tokens and subsequent the allocation of SYMM Tokens and supersede any prior understandings or representations, whether written or oral.
11.2 Severability. If any provision of these Terms is found to be invalid or unenforceable, the remaining provisions shall remain in full force and effect.
11.3 No Partnership. Nothing in these Terms shall be construed as creating a partnership, joint venture, agency, or any form of employment relationship between You and the Protocol.
11.4 Assignment. You may not assign any rights or obligations under these Terms without the prior written consent of the Protocol.
11.5 No Waiver. Any failure by the Protocol to enforce any provision of these Terms shall not constitute a waiver of future enforcement of that or any other provision.
CONTACT INFORMATION For questions or concerns about these Terms, please contact: contact@symmio.foundation
By receiving SYMM Tokens, You acknowledge that You have read, understood, and agree to these Terms.
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