Phantasma Chain Terms & Conditions

Last Updated May 19, 2022

The following terms and conditions of service (these “Terms & Conditions”) apply to visitors of the Site. You should read these Terms & Conditions of Service carefully to determine which provisions apply to you. By using any of the services, functions, or features offered from time to time on the Site (collectively or individually, the “Services”), the user (referred to herein as “you” or “your”) agrees to these Terms & Conditions of Service.

By using the Site, you understand and agree that the Site is only an interface for a community managed Phantasma Chain, where decisions are not made by a single entity, but by the Phantasma Chain Community (the “Community”).

These Terms & Conditions of Service constitute the agreement and understanding with respect to the use of any or all of the Services, and any manner of accessing them, between you and Phantasma. For the avoidance of doubt, these Terms & Conditions of Service have two parties: you and Phantasma. Any and all terms, conditions, licenses, limitations, and obligations contained within and on the Site are incorporated into these Terms by reference, including, without limiting the generality of the foregoing, the Privacy Policy. In particular, please note that all transactions of Digital Tokens on or off the Site may be subject to fees levied by Phantasma Chain. In the event of any inconsistency between these Terms & Conditions of Service and any other pages or policies on the Site, these Terms & Conditions of Service shall prevail.

By creating a Poltergeist Wallet or an Ecto Wallet or by using any of the Services, you acknowledge that you have read, understand, and completely agree to these Terms & Conditions of Service in effect from time to time. If you disagree with these Terms & Conditions of Service or with any subsequent amendments, changes, or updates, you may not use any of the Services; your only recourse in the case of disagreement is to stop using all of the Services.

The use of the Site and any Services is void where prohibited by applicable law.

Clause 1. “Definitions”: 

In these Terms & Conditions of Service, the following words have the following meanings unless otherwise indicated:

“Associates” means the corporate structure in-charge of overseeing the development of the Phantasma Chain, and each and every one of their respective shareholders, subsidiaries, employees, contractors, agents, directors, officers, partners, affiliates, insurers, and attorneys;

“Digital Tokens” means blockchain-based assets or rights, or other similar digital representations of rights or assets;

“Phantasma” means the corporate structure in-charge of overseeing the development of the Phantasma Chain;

“Phantasma Chain” means a collection of multiple chains binded together by the Nexus with a main chain existing for each Nexus. This chain has the name ‘main’ and is the result of the creation of a genesis block along with all default economy assets and organizations and is available:

“Phantasma Chain Community” means the users and developer community around Phantasma infrastructure, code and development etc.

“Person” includes an individual, association, partnership, corporation, other body corporate, trust, and any form of legal organization or entity;

“Personal Information” means information about an identifiable individual, business, organization, or other entity, but does not include the name, title, business address, or telephone number of an employee of a business, organization, or other entity;

“Prohibited Jurisdictions” means USA, Belarus, Central African Republic, Democratic Republic of Congo, Democratic People’s Republic of Korea, the Crimea region of Ukraine, Croatia, Cuba, Iran, Iraq, Kosovo, Lebanon, Libya, Moldova, Somalia, Sudan, South Sudan, Syria, Venezuela, Yemen, and Zimbabwe as set out in Clause 5 of these Terms & Conditions of Service;

“Prohibited Use” has the meaning set out in Clause 6 of these Terms & Conditions of Service;

“Service” means any of the services, functions, or features offered on or through the Site;

“Site” means the Internet website

“Terms & Conditions of Service” means the present terms and conditions of service, as they may be changed, amended, or updated from time to time without prior notice to you, including the Privacy Policy.

“Wallet” means a combination of a user’s public address and corresponding private key (or mnemonic phrase or keystore file with password) that holds any Digital Tokens that are created and/or received on Phantasma Chain, which may associate with corresponding transactions related to this address.

“You” or “Your” means the user.

Clause 2 “Language and Translation”

These Terms are concluded in the English language and all communications including any notices or information being transmitted shall be in English. In the event that these Terms or any part of it is translated  into any other language, the English language text of these Terms shall prevail.

Clause 3 “License to Use the Site”

If you comply with these Terms & Conditions of Service, Phantasma grants you the limited right to use the Site and the Services. The right to use the Site and the Services is a non-exclusive, non-transferable, revocable, limited license, and it is subject to the limitations and obligations in these Terms & Conditions of Service. Nothing in these Terms & Conditions of Service gives you any license (other than as set out in this paragraph), right, title, or ownership of, in, or to the Site or any of the Services.

Clause 4 “Risks and Limitation of Liability”

Trading markets are volatile and shift quickly in terms of liquidity, market depth, and trading dynamics. You are solely responsible and liable: for any and all trading and non-trading activity on or through the Site and for your wallet on the Site; and, for knowing the true status of any position or contract with any other party on the Site, even if presented incorrectly by the Site at any time. You acknowledge and agree: to be fully responsible and liable for your trading and non-trading actions and inactions on or through the Site and all gains and losses sustained from your use of the Site and any of the Services; to be responsible for any negative balance in your wallet(s) on the Site; to be fully responsible and liable for all of your obligations with respect to any financing activities on the Site; and, to be fully responsible for safeguarding access to, and any information provided through, the Site and any of the Services, including, but not limited to, private keys, public keys, key seeds and address details. There is no guarantee against losses on or through the Site.

Clause 5 “Eligibility”

Phantasma has sole and absolute discretion to determine access to the Site. By agreeing to these Terms, you represent and warrant that: (a) you are at least 18 years of age; (b) you have the full right, power, and authority to agree to these Terms; (c) you are not subject to any financial sanctions, embargoes or other restrictive measures imposed by the United Nations, European Union, any EU country, UK Treasury or US Office of Foreign Assets Control (OFAC), or any governmental authority in any jurisdiction in which the NFT Marketplace is available; (d) you are not a citizen or resident of any of the following countries: Belarus; Burma (Myanmar); Central African Republic; Côte d’Ivoire (Ivory Coast); Cuba; Democratic Republic of the Congo; Iran; Iraq; Lebanon; Liberia (former Liberian Regime of Charles Taylor); Libya; North Korea; Somalia; Sudan; Syria; Zimbabwe; (e) you are not impersonating any other person; (f) you will not use the Website if any Applicable Laws in your country prohibit you from doing so in accordance with these Terms; (g) you are compliant with all Applicable Laws to which you are subject; (h) you have read, understood and agreed to our Privacy Policy.

Clause 6 “Prohibited Uses” 

You undertake not to, knowingly or otherwise, authorize, allow or assist any other party to:

  1. Use the Site or any Services in order to disguise the proceeds of, or to further, any breach of applicable laws or regulations, or to deal in any contraband Digital Tokens, funds, or proceeds;
  2. Use the Site or any Services to interfere with or subvert the rights or obligations of Phantasma or the rights or obligations of any other Site user or any other third party;
  3. Trade using inaccurate information presented by the Site or by Phantasma or take advantage of any technical glitch, malfunction, failure, delay, default, or security breach;
  4. Use the Site or any Services to engage in conduct that is detrimental to Phantasma or to any other Site user or any other third party;
  5. Reverse-engineer, decompile, or disassemble any close-sourced or proprietary software running on the Site;
  6. Attempt to harm Phantasma or any third party through your access to the Site or any Services, except that nothing in this subparagraph shall be construed as limiting your free speech rights under applicable law;
  7. Where you are a resident or a national of a Prohibited Jurisdiction, access the Site or any Services using any virtual private network, proxy service, or any other third party service, network, or product with the intent of disguising your IP address or location; 
  8. Violate these Terms & Conditions of Service.

Any use as described in this paragraph shall constitute a “Prohibited Use”. If Phantasma determines that you have engaged in any Prohibited Use, Phantasma may address such Prohibited Use at its discretion.

Clause 7 “Anti-Money Laundering & Counter-Terrorism Financing” 

Phantasma is committed to providing you with safe, compliant, and reputable Services. Accordingly, Phantasma insists on a comprehensive and thorough user due diligence process and implementation and ongoing analysis and reporting. This includes monitoring of and for suspicious transactions and mandatory reporting to international regulators. Phantasma needs to keep certain information and documentation on file pursuant to applicable law and its contractual relationships, and Phantasma hereby expressly reserves the right to keep such information and documentation. This will apply even when you terminate your relationship with Phantasma or abandon your wallet and related applications.

Phantasma and Phantasma Chain community reserves the right to refuse service of the Site, or to bar transactions from or to, or terminate any relationship with, any user for any reason (or for no reason) at any time. Without limiting the generality of the foregoing, this includes, but is not limited to, anyone from or in jurisdictions that do not meet international Anti-Money Laundering & Counter-Terrorism Financing standards as set out by the Financial Action Task Force (FATF); anyone that is a Politically Exposed Person within the meaning of the FATF’s 40 Recommendations; or, anyone that fails to meet any user due diligence standards, requests, or requirements of Phantasma and Phantasma Chain community. At all times, you may be subject to enhanced user due diligence procedures in your use of the Site and any Service.

Clause 8 “Representations & Warranties”

You represent and warrant to Phantasma and Phantasma Chain community as follows:

  1. That, if you are an individual user, you are 18 years of age or older and that you have the capacity to contract under applicable law;
  2. That, if you are not an individual user, you have the requisite power and authority to sign and enter into binding agreements for and on behalf of the user;
  3. That you understand the risks associated with using the Site, that you are not barred from using the Site by Clause 6 of these Terms, and that you are not otherwise prohibited by applicable law from using the Site;
  4. That you will not use the Site or any Services in order to disguise the proceeds of, or to further, any breach of applicable laws or regulations, or to deal in any contraband Digital Tokens or proceeds;
  5. That you will not trade or obtain financing on or through the Site or use any Services with anything other than funds or Digital Tokens that have been legally obtained by you and that belong to you;
  6. That any trading or other instructions received or undertaken through your signature credentials are deemed to be valid, binding, and conclusive, and that Phantasma may act upon those instructions without any liability or responsibility attaching to it; and,
  7. That you will fairly and promptly report all income associated with your activity on the Site pursuant to applicable law and pay any and all taxes exigible thereon.

Clause 9 “No Representations & Warranties by Phantasma”

Phantasma makes no representations, warranties, or guarantees to you of any kind. The Site and the Services are offered strictly on an as-is, where-is basis and, without limiting the generality of the foregoing, are offered without any representation as to merchantability or fitness for any particular purpose.

Clause 10 “Limitation of Liability & Release”

Except as may be provided for in these Terms & Conditions of Service, Phantasma assumes no liability or responsibility for and shall have no liability or responsibility for any claim, application, loss, injury, delay, accident, cost, business interruption costs, or any other expenses including but not limited to legal fees or the costs of any claim or suit, nor for any incidental, direct, indirect, general, special, punitive, exemplary, or consequential damages, loss of goodwill or business profits, work stoppage, data loss, computer failure or malfunction, or any and all other commercial losses directly or indirectly arising out of or related to: these Terms & Conditions of Service; the Site, and your use of it; the Services, and your use of any of them; the real or perceived value of any currencies or Digital Tokens traded on the Phantasma Chain, or the price of any Digital Token displayed on the Site at any time; any inaccurate, misleading, or incomplete statement by Phantasma or on the Site regarding your wallets, whether caused by Phantasma’s negligence or otherwise; any failure, delay, malfunction, interruption, or decision (including any decision by Phantasma to vary or interfere with your rights) by Phantasma in operating the Site or providing any Service; any stolen, lost, or unauthorized use of your wallet information any breach of security or data breach related to your wallet information, or any criminal or other third party act affecting Phantasma or any Associate; or, any offer, representation, suggestion, statement, or claim made about Phantasma, the Site, or any Service by any Associate.

You hereby agree to release the Associates from liability for any and all Losses, and you shall indemnify and save and hold the Associates harmless from and against all Losses. The foregoing limitations of liability shall apply whether the alleged liability or Losses are based on contract, negligence, tort, unjust enrichment, strict liability, or any other basis, even if the Associates have been advised of or should have known of the possibility of such losses and damages, and without regard to the success or effectiveness of any other remedies.

Clause 11 “No Waiver”

Any failure by Phantasma to exercise any of its respective rights, powers, or remedies under these Terms & Conditions of Service, or any delay by Phantasma in doing so, does not constitute a waiver of any such right, power, or remedy. The single or partial exercise of any right, power, or remedy by Phantasma does not prevent either from exercising any other rights, powers, or remedies.

Clause 12 “Force Majeure”

Phantasma is not responsible for damages caused by delay or failure to perform undertakings under these Terms & Conditions of Service when the delay or failure is due to fires; strikes; floods; power outages or failures; acts of God or the state’s enemies; lawful acts of public authorities; any and all market movements, shifts, or volatility; computer, server, or Internet malfunctions; security breaches or cyberattacks; criminal acts; delays or defaults caused by acts or omissions of third parties; or, any other delays, defaults, failures or interruptions that cannot reasonably be foreseen or provided against. In the event of force majeure, Phantasma is excused from any and all performance obligations and these Terms & Conditions of Service shall be fully and conclusively at an end.

Clause 13 “Assignment” 

These Terms & Conditions of Service, and any of the rights, duties, and obligations contained herein, are freely assignable by Phantasma without notice or your consent. These Terms & Conditions of Service, and any of the rights, obligations, and rights contained within, are not assignable by you with

out the prior written consent of Phantasma. Any attempt by you to assign these Terms & Conditions of Service without written permission is nonbinding.

Clause 14 “Severability”

If any provision of the present Terms & Conditions of Service, that might be updated from time to time, is determined to be invalid, void, or unenforceable, in whole or in part, by any court of competent jurisdiction, such invalidity, voidness, or unenforceability relates only to such provision and everything else in these Terms & Conditions of Service continues in full force and effect.