Last updated: 20th March 2018
The EvoChain Initial Coin Offering (ICO) is subject to the following Terms of Sale (“Terms”) and these Terms will govern the sale of ECHO tokens.
“Blockchain” Means a digital ledger in which transactions made in Ethereum or another cryptocurrency are recorded chronologically and publicly.
“Burned” Means the destroying of ECHO in order that ECHO that are Burned will no longer be in existence.
“Cryptocurrency” Means a digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank.
“ICO” Means Initial Coin Offering which is a method of crowdfunding where a new cryptocurrency is sold in order to raise funds.
“ECHO” Means the new cryptocurrency being sold under the terms and conditions of this initial coin offering.
“EvoChain Inc.” Means the company with ownership of EvoChain and who are the beneficiary of the ICO.
“Participant” Means a legal entity (such as an individual, a company, or partnership) that actively participates in this initial coin offering.
“Terms” Means these terms of sale.
“Website” Means https://www.evochain.io
“White Paper” Means the white paper setting out the concept of EvoChain which can be found at https://www.evochain.io
EvoChain is a cryptocurrency blockchain and ECHO is a token that is being offered by Evochain Inc under these terms of sale.
ECHO is being offered by the EvoChain Inc. Any participant is advised to read the EvoChain White Paper which provides an explanation of the concept of EvoChain/ECHO, the purpose of EvoChain and the unique benefits of holding ECHO by a participant.
These Terms and the white paper are not a solicitation for investment and the offering of ECHO does not in any way offer any form of security or debenture in any jurisdiction. The ICO is a token sale which enables the Participant to a potential profit only from the sale of ECHO at a later date to be determined at the Participant’s discretion.
Participating in the purchase of ECHO does not provide the holder with any rights, either express or implied in relation to the EvoChain Inc. The ICO is to provide the EvoChain Inc. with immediately accessible funds raised from the ICO to develop EvoChain and this is further explained in the White Paper.
1.1 It is assumed by the EvoChain Inc. that any Participant is of an expert and sophisticated nature and fully understands the workings of cryptocurrency, the blockchain and how an ICO works.
1.2 In order for a Participant to participate, they agree that: –
- i) They are over the age of 18 years (if domiciled in the United States) or are over the age of consent for a Participant to legally enter into a contract (if outside of the jurisdiction of the United States)
- ii) That they have sought the relevant legal, tax and regulatory advice from a suitably qualified professional as to the legality of an ICO in their jurisdiction.
- iii) That they understand that the ICO is not being offered to any Participant that resides in a jurisdiction that is regulated by laws of the countries where transactions with cryptocurrencies are restricted. The Participant is solely responsible for understanding and complying with any and all laws relevant in the jurisdiction in which they reside. EvoChain Inc. cannot be held liable for any legal risks and disputes arising from jurisdiction of the Participant.
- iv) That they are responsible to determine which, if any, taxes apply to any profits made and to report and remit the correct tax to the appropriate tax authority. EvoChain Inc. is not obligated to determine which, if any, taxes apply and are not responsible to collect, report or remit any such taxes arising from profits earned by Participants.
- v) That they will not participate in the ICO for any purposes related to organized crime, fraud, tax evasion, money laundering and financing terrorism. Participants understand that EvoChain will at all times cooperate with any police, criminal or relevant authority investigation relating to a Participant’s breach of these Terms.
vi) That they are deemed to have the requisite experience to understand crypto coins, cryptocurrency and blockchain technology.