Terms and Condition
Linework Terms and Conditions. Refers to Linework's Terms & Conditions :
TERMS & CONDITIONS
This document and any other Linework documents do not constitute a prospectus of any sort and are not a solicitation for investment. Linework does not represent ownership or share in ANY public or private corporation, or other entity in any jurisdiction. Acquisitions of Linework through the ICO are non-refundable. Linework coins are only to be used in connection with Linework under these Terms and the Community Code and do not entitle any stakeholder to any additional rights. Any acquisition and use of Linework carries significant financial risk, including the use of experimental software.
These Terms & Conditions (the “Terms”) govern (i) the use of the website www.Linework.online, the only official and authorized website for Linework, and (ii) the sale of Linework (“LWC”) through its Initial Coin Offering (“ICO”), and (iii) holding and use of Linework.
These Terms constitute a contract between Linework Limited Company, a private company with limited liability under the laws of the Milan, registered with the Companies Registry under number MI2629062, and any of its future subsidiaries (SPVs) or affiliates constituting the Linework ecosystem (everything together “Linework Services”). Linework Italia Limited is not a financial institution and does not provide investment services, incl. investment advise, or any other licensed financial services.
Linework Services provides technical solutions to create and support Linework, a community-based ecosystem aimed at supporting innovation and collaboration from resources raised through the ICO, and from resources subsequently generated by the operation of supported projects. The technical and organizational structures of Linework are currently in their development stages and its realization is going to be financed through resources obtained from the ICO of Linework.
Participants cannot contribute to the ICO if there are applicable legal restrictions in their country of residence. It is the responsibility of each participant to know these laws regarding their participation in the ICO.
Due to legal restrictions, the ICO and Linework itself are not accessible, or for use, for any person (including a legal entity) who is considered a United States person under applicable legislation.
Linework is built on an open source blockchain, the Etherscan.io. The preliminary outline of the Linework function is given in the white papers published on the Linework website. The contents of the white paper are not binding and are subject to change in line with ongoing research and development in order to best meet Linework’s vision to create a decentralized and self-sustaining macroeconomic ecosystem for blockchain innovation.
Linework is the Linework “access token”. This means that Linework will be the native cryptocurrency of the Linework ecosystem, to be used by its community. Funds collected through the ICO will be used to develop a platform for the community and facilitate the use of the Linework coin. Linework capabilities and its value are fully dependent upon the developments of Linework and the market.
Linework stakeholder (or just “stakeholder”) means any entity holding any amount of LWC. Those who participated in the first ICO round, and who have contributed a minimum effective amount, will be invited to register as community members. Community members are able to use the Linework Community Portal and thereby utilize the full potential of Linework once the Community Portal is deployed. Community members will be able to purchase products and services that will fuel the creation of innovative projects using their LWC coins.
Linework Services grants you access to the website and the Community Portal as it may exist and be available on any given day and Linework has no other obligations, except as expressly stated in these Terms.
Linework Services has the right to modify, replace, refuse access to, suspend, or discontinue the website and the Community Portal partially or entirely.
Linework Services reserves the right to withhold, remove or discard any content available as part of your Community Portal account or website or withhold services, with or without notice.
A separate licensed legal entity will be established as the vehicle for investing in projects. This entity will issue equity shares called Lineworkshares (ADS). These will be tokenized on the blockchain as the Lineworkshare (ADS). Lineworkshares will be purchased only with the Linework coin. Any dividend payment will be issued to shareholders in LWC.
Linework Services is developing its operational and legal structure in order to allow for interaction, collaboration, and innovation in a community-based model. Therefore, any statements made in the press, in presentations, or in any of its marketing materials, leading up to, and including the ICO, may not completely reflect the final structure established by Linework.
Initial Coin Offering
Participation in the ICO is possible through any cryptocurrency accepted by TokenLite platform. There will be a total of 21,000,000 non-mineable Linework Coin. All LWC will be distributed through three rounds of ICO. In the first round 2,500,000 LWC will be issued. The first ICO round launches at noon 12:00 Coordinated Universal Time (“UTC”) on May 11, 2022 and closes at 23:59 UTC on June 5, 2022. During this time, a special Linework ICO module will be available on the Linework website, where ICO participants will be able to generate new LWC accounts or assign existing LWC accounts. The Linework ICO page in the TokenLite platform will guide participants through the deposit process, including KYC (“Know Your Customer”) procedures. The second and third ICOs are planned to be launched based on the progress of fund usage from the first ICO round, taking into account Linework`s development and overall market situation.
Any participant that contributes to the ICO on the Tokenlite platform is required to provide their first name, last name, citizenship, and email. The participant is required to confirm the authenticity of these details.
There will be three stages for participants to earn different bonus percentages for their cryptocurrencies. This bonus refers to the amount of LWC the participant will receive:
10% bonus in LWC ▲ on May 11th till June 5th
50% bonus in LWC ▲ on June 6th till June 30th
10% bonus in LWC ▲ on July 3rd till August 30th
The market price of LWC will be determined at the end of the ICO. This value will be calculated based on the total ETH collected, divided by 21,000,000 LWC coins (to establish the value of ETH per LWC). This will also determine the USD (United States dollar) value per LWC based on the TradingView exchange rate at the end of the ICO.
The participant’s LWC coins and transaction history will be displayed in the Account Module of Linework’s Tokenlite platform.
The funds will be used for building the community portal and its modules and launching Linework’s second phase, including the Linework share (LWC) token.
Limitation of Liability
In no event shall Linework Services or members of Linework staff be liable for:
Any lost profits, lost savings, or incidental, indirect, special, or consequential damages, arising out of your use or inability to use the services or products offered by Linework or the breach of any of these Terms by any third-party.
Any security risk such as hacker attacks, loss of password, unauthorized access, etc.
Any losses resulting from the extreme volatility in pricing of Linework in any country and cryptocurrency exchanges.
If an event of force majeure occurs, the party injured by the other’s inability to perform may elect to suspend the agreement, in whole or part, for the duration of the force majeure circumstances. The party experiencing the force majeure circumstances shall cooperate with and assist the injured party in all reasonable ways to minimize the impact of force majeure on the injured party.
By acquiring Linework and to the extent permitted by applicable law, the buyer agrees not to hold Linework or any member of Linework Services liable for any losses or damages arising out of or in any way connected to the buyer’s failure to properly secure the private key to the wallet containing their Linework, hacker’s attacks, loss of passwords, etc.
Participation in the Linework ICO and any acquisition of Linework carries with it significant risk. Prior to participation, carefully consider the exemplary and non-exhaustive list of risks set forth below and, to the extent necessary, consult a lawyer, accountant, and/or tax professionals.
It is possible that even if the ICO threshold is met, the insufficient funds will not feasibly to develop Linework, possibly causing the effect that stakeholders may not be able to participate in any projects. By holding Linework, the stakeholder acknowledges that he/she understands that while every effort will be made to execute Linework’s vision, it is possible that it will never be realized due to the aforementioned reasons.
Cryptocurrencies and project financing through cryptocurrencies have been the subject of regulatory scrutiny by various regulatory bodies around the world. Linework may need to change its operations in order to comply with applicable regulations and may become subject to licensing requirements. Linework could be impacted by one or more regulatory actions or regulatory enforcement, which could impede or limit the ability to continue to develop Linework and its activities. This uncertainty significantly adds up to risks connected with the acquisition and use of Linework. Linework Services will make every effort to adopt its practices to accommodate regulatory needs and changes as they occur.
The Linework software itself utilizes a third-party platform: the LWC blockchain. There is a risk that, as an open-source project, any changes to the LWC blockchain could introduce weaknesses or bugs into the LWC software, thus causing the loss of Linework coins and/or LWC tokens in one or more or even all of the stakeholder accounts. Linework reserves the right to be vendor agnostic in this regard, and use other blockchain providers where feasible, practical, or necessary.
The field of digital cryptography is very new and for this reason there is a risk of unforeseen attacks, both in terms of the underlying cryptographic protocol that underpins the functionality of Linework, as well as ‘game theory’ related vectors which have not all been documented to date. Both these vectors represent a risk that could lead to the loss of Linework coins or LWC tokens in one or more or even all of the stakeholder accounts.
Representations & Warranties
By acquiring Linework coins, whether from another stakeholder or through the ICO, you represent and warrant that you:
Have a basic level of understanding of the usage and intricacies of cryptographic tokens, such as LWC, and other blockchain-based software systems;
Are at least 18 years old or the age of contractual capacity;
Are legally permitted to use LWC tokens in your jurisdiction;
Waive your right to participate in a class-action lawsuit or class-wide arbitration against any member of Linework Services;
Are not exchanging Linework for any illegal purpose within your jurisdiction;
Understand that there is no warranty whatsoever on Linework, express or implied, to the extent permitted by law, and that Linework is created on an “as is” basis;
Further, agree to accept sole risk for your participation in the Linework ecosystem;
Are not a USA citizen.
Linework Services shall not use, process, or transfer your personal data beyond the limits permitted by statute or defined by the stakeholder’s consent. Unless you select otherwise, the information provided to Linework Services will not be visible to the public or other community members.
Before participating in the ICO you have to provide certain personal information about yourself (this may include, but is not limited to, your name, contact details, date of birth, personal identification number, field of activity, residency, bank account information, source of funds, scanned copy of passport or similar personal documents, and any other details that may be required to meet legal requirements) to enable us to verify your identity.
Before using the Community Portal, you have to register with Linework as a community member and provide further personal information.
Linework Services performs KYC (“Know Your Customer”) and AML (“Anti-Money Laundering”) procedures. If you supply Linework Services with the personal information described above and any other personal data (including IP address), you agree that Linework Services will therefore process your information for AML purposes, and can provide your information to the state authorities in the countries Linework Services operates.
You hereby authorize Linework Services to, directly or through third parties, make any inquiries we consider necessary to verify your identity and/or protect against fraud, including to query identity information contained in public domains or reports, and to take any action we reasonably deem necessary based on the results of such inquiries or reports. You further authorize any and all third parties to whom such inquiries or requests may be directed to fully respond to such inquiries or requests.
Compliance ▲ Linework Services shall cooperate with all law enforcement inquiries, subpoenas, or requests provided they are fully supported and documented by the law in the relevant jurisdictions.
Amendments ▲ Linework Services, after final approval of the Linework Board, reserves the right to change, modify, add, or remove portions of these Terms at any time during the ICO and afterward by posting the amended Terms on Linework’s website, as well as making a public announcement. The revised version will be effective at the time Linework Services posts it unless indicated otherwise. However, Linework Services will provide 10 working days’ notice of any substantial change. If you do not agree to be bound by the amended or modified Terms, you must cease accessing or using Linework.
Jurisdiction ▲ These Terms shall be governed by and construed in accordance with the laws of the Isle of Man. Any dispute arising under these Terms shall be subject to the exclusive jurisdiction of the Isle of Man courts.
Acceptance of Terms ▲ By the acquisition of Linework, the stakeholder confirms that, to the extent permitted by law, he/she is authorized to acquire Linework and to fully understand and to be bound by these Terms regarding his/her relevant jurisdiction. If you are not a registered user, but access or use Linework services, mobile applications, electronic platforms, the website located at www.linework.online, or any other associated website hosted by Linework Services, then you indicate that you agree to these Terms. If you do not agree to any of the specific terms or conditions herein you may not access or use any of the Linework services.
If you have any questions, please contact Linework by e-mail at email@example.com.
This section illustrates legal and risk disclaimers concerning the Project, including the LWC. This section is not intended to be exhaustive and does not constitute investment or other advice. Prospective purchasers should make their own independent evaluation of all risk factors and should read the detailed information set out elsewhere in this whitepaper. Other risks and uncertainties unknown to Linework or considered insignificant at this time could equally have a material adverse effect on the business, operations, financial conditions, or prospects of Linework.
The whitepaper is only for informational purposes. It does not constitute a prospectus, advice, an offer document, an offer of securities, a solicitation for investment, or any offer to sell any product, item, or asset. It does not provide all information about the Project, and its terms and conditions may be updated and changed from time to time without notice. The whitepaper contains forward-looking statements or information (“forward-looking statements”) that relate to Linework’s current expectations and views of future events. All forward-looking statements address matters that involve risks and uncertainties. Accordingly, there are or will be important factors that could cause Project’s actual situation and results to differ materially from those indicated in these statements. Linework may encounter difficulties during the development of the products, including financial, resourcing, and technical difficulties. Development of the Project may therefore fail, terminate, or be delayed at any time for any reason. Such failure, termination, or delay is likely to reduce and may completely obliterate any existing utility that LWC may hold. Linework does not authorize anyone to make any representation not included in the Whitepaper, no assets, property, or security rights underlying LWC. Accordingly, all decisions involving the Project will be made by Linework. In particular, the LWC does not represent or constitute any intellectual property rights, ownership rights or stake, shares or security, membership right or equivalent rights nor any right to receive future revenues, shares, or any other form of participation or governance rights in or relating to Linework. Nothing underpins the value of LWC other than the prospect of the Project’s access, usage, and functionality. Linework reserves the right to migrate the LWC to another protocol and generate replacement tokens on the new protocol in the future. In this case, Linework may no longer provide support for the pre-existing tokens or any other operational matters, except concerning the migration process. The LWC and the Project rely heavily on the internet. Linework takes no responsibility for risks arising from reliance on the Internet (interruption, delay, corruption or loss of data, or the loss of confidentiality in the transmission of data, etc.) and on the blockchain technology (scripting language flaws, targeting of the platform or you by malicious persons, the existence or development of competing networks and platforms, source code changes, etc.).The LWC holders need to have a sufficient understanding of the functionality, usage, storage, transmission mechanisms, and other material properties of cryptographic assets, wallets and other tokens/asset storage mechanisms, public and private key administration, and blockchain technology. Holding and transfer of LWC and use of the Project (if and when developed) will not be anonymous. Your address and such participation will be recorded on a permission-less blockchain. The users of the Project will need to comply with applicable laws and regulations, including but not limited to certain anti-money laundering and terrorist financing measures. Furthermore, to comply with Anti-Money Laundering (AML) regulations and by our privacy statements, the disclosure will be made to relevant authorities and regulators upon request. You alone are responsible for securing your private key. Losing control of your private key will permanently and irreversibly deny you access to your LWC. Neither Linework nor any other person will be able to retrieve or protect your LWC. Linework is not liable for any indirect, special, incidental, consequential, or other losses of any kind, in tort, contract, or otherwise (including but not limited to loss of revenue, income or profits, and loss of use or data), arising out of or in connection with any acceptance of or reliance on the whitepaper or any part thereof by you. The linework is open to being audited for compliance and providing transactions open for the public including wallet addresses. The users on Linework will need to comply with applicable laws and regulations, including but not limited to certain anti-money laundering and terrorist financing measures.
Purchasing LWC involves inherent risks, some of which are set out in this Section of the whitepaper. These risks, and additional risks arising either now or in the future, could result in the failure of the LWC transfers, the destruction of LWC or the utility of LWC, and/or the termination of the development of LWC or of the Project. There is a possibility that the purchase amount may be unrecoverable and/or that the LWC may cease to have inherent intrinsic value. You must therefore consider carefully whether the risks set out below, as well as all other applicable risks, are acceptable to you prior to deciding whether to purchase LWC. Many factors, most of which are beyond Linework’s control, will influence the value of LWC and the price, if any, at which market participants may be willing to purchase or sell LWC in the secondary market. Accordingly, if an LWC Holder sells its LWC in the secondary market, it may not be able to obtain a price equal to the principal amount of LWC or a price equal to the price that it paid for LWC. You must seek professional advice (legal, taxation, financial, technical. or otherwise) regarding your particular situation before purchasing LWC, holding LWC, or using the Project.
• Blockchain-related risks: the underlying software application and software platform are still in an early development stage and un-proven so there is no guarantee that the process for creating LWC will be uninterrupted or error-free. There is an inherent risk of weaknesses, vulnerabilities, or bugs in the software causing the complete loss of LWC and the Project.
• Abandonment/lack of success: Linework may abandon the creation of LWC and the development of the Project for various reasons, including lack of interest from the public, lack of funding, lack of commercial success or prospects (e.g. caused by competing projects) and legal, tax or regulatory considerations.
• Regulatory risks: certain jurisdictions might apply already existing laws and regulations to blockchain technology-based projects or introduce new laws or regulations for this purpose. Newly introduced regulations may differ from the existing setup of the platform. This may cause, inter alia, substantial modifications of the Project or bring to the termination and/or the loss of LWC. Linework may receive formal or informal queries, notices, requests, or warnings by governmental authorities and regulators (including Tax treatment and accounting statutes).