TERMS AND CONDITIONSAbout "The Priceless Object (PO9K) Pre-Sale"

8.3 The Priceless Object (PO9K) Pre-Sale: Terms and Conditions

This document is not a solicitation for investment and does not constitute an offer of digital currency, commodity, security, financial instrument or any other form of investment, securities to the public or a collective investment scheme, nor does it require registration or approval from a regulatory authority in any jurisdiction.

This Agreement is part of a reward-based fundraising event and no financial instruments are issued to the Participant.

THE PRICELESS OBJECT (PO9K) Tokens are not securities and do not carry with them any rights as may be commonly associated with securities and this Agreement, its Annexes or any other documents which are an integral part of the Agreement do not constitute an offer of securities to the public by Sugar Cane Fresh Solutions PTY, LTD.

Do not participate in the Initial Token Offering if you are not an expert in dealing with cryptographic tokens and Blockchain-based software systems as well as contribution to smart contract systems. Contributions should be undertaken only by individuals, entities, or companies that have significant experience with, and understanding of, the usage and intricacies of cryptographic tokens, like Waves, Bitcoin, and Blockchain based software systems as well as contribution to smart contract systems. Contributors should have functional understanding of storage and transmission mechanisms associated with other cryptographic tokens. If you do not have such experience or expertise, then you should not participate in the Initial Token Offering.

Users must be made aware of certain risk factors, as set out in Section 8.3.5 (Risk Factors).

Prior to contributing, you should carefully consider these Terms and all other materials available concerning The Priceless Object PO9K, to the extent necessary, consult an appropriate lawyer, accountant, or tax professional.

THIS TOKEN PRE-SALE AGREEMENT is made as of the 09th day of September 2018, between SUGAR CANE FRESH SOLUTION PTY LTD, is a registered company under the Corporations Act 2001 and is taken to be registered in Queensland, Australia under number 611 314 071, acting in representation and administration of the artist Kelvin Huggins whom offer to sell his work The Priceless Object PO9K AND any person (natural or juridical), who intends to participate in and contribute towards, this public reward based fundraising and become a Participant. The following Terms and Conditions govern the creation and allocation of The Priceless Object cryptographic tokens (PO9K) by one or several smart contract software codes (jointly, the Smart Contract System) created by The Priceless Object (PO9K) and operating on the Waves Blockchain as well as the contribution by third party individuals and entities (each, a User) to such Smart Contract System in the public Initial Token Offering (Initial Token Offering).

8.3.1 Initial Token Offering Principles

  1. PO9K will create a platform facilitating M&A and IP transactions as further described in The Priceless Object Whitepaper. By transferring funds (Funds) in Waves (WAVES) Bitcoin (BTC) and ethereum (ETH), Americans dollars (USD), Australian dollars (AUS) pursuant to these Terms in order to contribute to the development of the The Priceless Object (PO9K) (Pre-Sale), the User understands and accepts that his/her/its Contribution will be utilized to enable further development of The Priceless Object Project (PO9K) (as determined in The Priceless Object’s sole discretion). These Terms and Conditions shall apply to such Pre-sale offerings, but may, at The Priceless Object’s discretion, be amended accordingly.
  2. Further information on The Priceless Object Project (PO9K) can be found in The White Paper and the Initial Token Offering documentation available on The Priceless Object Project (PO9K) website (https://www.pricelessobject.com) The information contained in the Whitepaper, the Initial Token Offering documentation and on The Priceless Object Project (PO9K) website are of a descriptive nature only, are not binding and do not form part of the Terms as set forth under paragraph e) below.
  3. Before being able to receive PO9K tokens, each User must register and undergo an identification (KYC) and anti-money laundering (AML) process. The registration instructions and schedule are available on The Priceless Object Project (PO9K) website. After registration is complete and approved, The Priceless Object Project (PO9K) will transfer the appropriate amount of PO9K tokens to the User’s address in the Smart Contract System. Any user who fails  the aforementioned process will be refunded the amount of Contribution.
  4. The User understands and accepts that The Priceless Object may in its sole discretion determine to accept contributions from private entities and individuals of strategic value for The Priceless Object Project (PO9K), and that such contributions may be accepted at terms that differ from these Terms.
  5. The User furthermore understands and accepts that the final allocation of the PO9K as well as the assignment of the execution of The Priceless Object Project (PO9K) are smart contract based. Consequently, the Smart Contract System contains code which sets forth further terms and conditions applicable to the distribution and operation of the PO9K and The Priceless Object Platform (as defined in paragraph l) (such code, the Smart Contract System Code). The direct address(es) of the Smart Contract System on the WAVES Blockchain is provided on The Priceless Object Project (PO9K) website. To the extent the terms contained herein or in any other document or communication contradict the ones set forth in the Smart Contract System, the terms of the Smart Contract System shall prevail. The access to The Priceless Object Platform and the functionality of the PO9K is defined by the Smart Contract System only. Furthermore, neither this document nor any other document or communication may modify or add any additional obligations to The Priceless Object or publisher of these terms or developer of the Smart Contract System and/or any other person, The Priceless Object and/or affiliates involved with the deployment of the Smart Contract System and the setting up of The Priceless Object Project (PO9K) beyond those set forth in the Smart Contract System.
  6. By making the Contribution, the User expressly agrees to all of the terms and conditions, which will be set forth in Smart Contract System Code and in this document (together the Terms). The terms and conditions set forth in the Smart Contract System Code are incorporated by reference herein. The User further confirms to have carefully reviewed the Terms in full, and the User further undertakes to review the Smart Contract System Code and its functions once released, and to fully understand the risks and costs associated with the allocation and holding of PO9K and contributing into a Smart Contract System.
  7. This document or any other materials provided by or relating to The Priceless Object Project (PO9K) do not constitute a prospectus of any sort, is not a solicitation for investment and does not pertain in any way to an offering of securities in any jurisdiction. Neither this document nor any other materials have been (or will be) registered as a prospectus with any governmental authorities.
  8. Transfer of WAVES, allocation, distribution or receipt of PO9K, or any other act undertaken between the parties in connection with the Pre-sale or the Initial Token Offering shall not form a partnership, joint venture or any similar relationship between the User and The Priceless Object and/or other individuals or entities involved with the deployment of the Smart Contract System and the setting up of The Priceless Object Project (PO9K).
  9. The User acknowledges and understands that The Priceless Object may at its discretion at any time change the name of the PO9K token and/or its symbol. PO9K shall use all reasonable efforts to ensure that such change of name and/or symbol will not adversely affect the rights of the Users or the PO9K held by the Users.

8.3.2.     PO9K Creation

8.3.2.1  Usage Token; No Ownership, Revenue or Governance Rights

  • Usage Token: Ownership of PO9K carries no rights express or implied other than a limited right to use PO9K as a means to enable usage of and interaction with and within The Priceless Object Platform, if and to the extent The Priceless Object Project (PO9K) has been successfully completed and launched.
  • No Ownership, Revenue or Governance Rights: In particular, User understands and accepts that PO9K do not represent or constitute any ownership right or stake, share or security or equivalent rights nor any right to receive future revenues, shares or any other form of participation or governance right in or relating to The Priceless Object Project (PO9K). The PO9K does not create or confer any enforceable contractual or other obligations against any third party (including PO9K, PO9K Team Members or other developers, auditors, contractors or founders associated with the PO9K, The Priceless Object Project (PO9K) and/or Sugar Cane Fresh Solutions PTY Ltd).

8.3.2.2  Contribution

  • User Registration: To become a global citizen and purchase PO9K tokens the user must follow the instructions described below: a) register at https://pricelessobject.com/token/login b) confirm the email address; c) the user must follow the necessary steps to enter into the PO9K ICO pre-sale through the KYC section; d) once the KYC (know your customer) has been approved, the user will be able to acquire PO9K tokens in accordance with the price of the running stage of the process; e) the user will receive a confirmation email of the purchase. The User acknowledges and understands that the registration process is laborious and it may take time to process the User’s registration.
  • Maximum Contribution Amount: The aggregate maximum Contribution amount for the entire allocation of PO9K (including the Pre-sale and the Initial Token Offering, as well as contributions from private entities and individuals of strategic value for The Priceless Object Project (PO9K)) will be defined as a hard cap and amounts to ninety-nine million, nine hundred thousand, Dollars (USD $99,900,000 and excluding fees arising from or related to the contribution process). The Priceless Object Project (PO9K) may, at its discretion, determine that the Maximum Contribution Amount is reached when the aggregate amount of Funds transferred to the Smart Contract System is close to the Maximum Contribution Amount, even though the actual amount of Contributions accepted by the Smart Contract System would be less than the Maximum Contribution Amount.
  • Maximum PO9K Token Supply: The maximum PO9K token supply is two hundred seventy million 270,000,000 PO9K.
  • Contribution Period: The Initial Token Offering period (Initial Token Offering Period) starts on the date and time set to be announced on The Priceless Object Project (PO9K) website and continues until June 09th 2019 or the moment when the Maximum Contribution Amount has been reached, whichever occurs earlier.

The Initial Token Offering Period shall be divided into five stages. When all of the PO9K tokens allocated for a particular stages have been completely distributed, the following stages will be immediately activated until all remaining PO9K tokens are completely distributed. The stages are as follows:

Sale stages and PO9K prices

The price for one (1) PO9K token will be one American dollar (USD $1) once the ICO have finished. However, discounted PO9K tokens during early date ranges are described below.  

Private Sales Stage

This stage started on September, 9th, 2018; 9:00 AEST and will end on December 9th, 2018; 9:00 AEST. (Table 8.1)

Pre ICO Sales Stage

This stage will start on December, 9th, 2018; 21:00 AEST and will end on December 27th, 2018; 9:00 AEST. During this stage, every World Citizen is invited to register on the White List in order to be notified about the beginning of the public sale of PO9K tokens. (Table 8.1)

Pioneering Citizens Launching Price

The price for one (1) PO9K token will be one cent of American dollar (USD $0.01) for buyers during this stage. Thus, a ninety nine percent discount (99%) from the actual value of the token will be granted. It will be effective from the public launching of the PO9K on December 27th, 2018; 21:00 AEST to February 19th, 2019; 9:00 AEST. This period finnalizes at the end date or if  the number of tokens intended for the sale in this stage are sold out. During this stage, the minimum purchase of PO9K per buyer will be nine hundred (900) tokens whereas the maximum purchase per buyer will be nine millions of PO9K/tokens (9,000,000). The totality of tokens available for sale during this stage is ninety millions of PO9K tokens (90,000,000). (Table 8.1)

Pioneering Citizens Price Stage I

The price for one (1) token PO9K will be forty cents of American dollar (USD $0.40) for buyers during this stage. Thus, a sixty percent discount (60%) from the actual value of the token will be granted. It will be effective from February 19th, 2019; 21:00 AEST to June 19th, 2019; 9:00 AEST. This period finnalizes at the end date or if  the number of tokens intended for the sale in this stage are sold out. During this stage, the minimum purchase of PO9K per buyer will be ninety (90) tokens whereas the maximum purchase per buyer will be nine millions of PO9K tokens (9,000,000). The totality of tokens available for sale during this stage is ninety millions of PO9K tokens (90,000,000). (Table 8.1)

Pioneering Citizens Stage II

The price for one (1) PO9K token will be seventy cents of american dollar (USD $0.70) for buyers during this stage. Thus, a thirty percent discount (30%) from the actual value of the token will be granted. It will be effective from June 19th, 2019; 21:00 AEST to November 9th, 2019; 9:00 AEST. This period finnalizes at the end date or if  the number of tokens intended for the sale in this stage are sold out. During this stage, the minimum purchase of PO9K per buyer will be ninety (90) tokens whereas the maximum purchase per buyer will be nine millions of PO9K tokens (9,000,000). The totality of tokens available for sale during this stage is ninety millions of PO9K tokens (90,000,000).  (Table 8.1)

Table 8.1 Sale stages, PO9K prices and date ranges.

STAGES Price(US$) Initial date Initial Hour End date End Hour
Private Sales Stage Sep/09/2018 21:00 AEST Dec/09/2018 9:00 AEST
Pre ICO Sales Stage Dec/09/2018 21:00 AEST Feb/19/2019 9:00 AEST
Pioneering Citizens Launching Price $0.01 Feb/19/2019 21:00 AEST Jun/19/2019 9:00 AEST
Pioneering Citizens Stage I $0.40 Jun/19/2019 21:00 AEST Sep/19/2019 9:00 AEST
Pioneering Citizens Stage II $0.70 Sep/19/2019 21:00 AEST Nov/09/2019 9:00 AEST
  • Contribution: The contributions shall be done in USD, EUR, WAVES, ETH, BTC.
  • Distribution of PO9K to Users: The User will have two options for receiving PO9K tokens: 1) live, by opening an account at Waves and copying and pasting the wallet’s address in the Account Information / Smart Passport section, by means of this option the PO9K tokens will be distributed within a period of 5 business days following the acquisition of the tokens and, 2) by waiting for the PO9K ICO pre-sale to end. Once the Pre-sale is finalized the preferred links (Android, iOS and Web) will be activated in the Account Information / Smart Passport section. The user will then need to download the Smart Passport in order to open the PO9K wallet where the PO9K tokens will be stored. The user must log in to account at https://pricelessobject.com/token/login and withdraw the tokens purchased at the pre-sale into the PO9K wallet. This process should take between 2 to 4 working days while the department of financial security certifies your deposit into the account.Upon receipt and acceptance of a User’s Contribution, the Smart Contract System will allocate a corresponding amount of PO9K to the User’s WAVES address or User’s PO9K address.
  • No Refund: The User understands and accepts that all Contributions are final and may not be reversed. Contributions that entitle a User to PO9K are non-refundable. Any Contributions that do not entitle the User to PO9K (e.g. due to the amount of Contributions exceeding the Maximum Contribution Amount) will be automatically sent back to the sending address. By contributing to The Priceless Object Project (PO9K), the User acknowledges that he/she/it has no right to request a refund for any reason, and that the User will not receive money or other compensation for any PO9K that is not used or remains unused. The Priceless Object shall not be liable for any losses caused by the User attempting to Contribute from an exchange, smart contract or other non- standard single access address.
  • Ensure the use of the original Smart Contract System: Only the Smart Contract System(s) will allocate PO9K. To the extent that any third-party website, service or smart-contract offers PO9K during the Initial Token Offering Period or facilitates the allocation or transfer of PO9K in any way during the Initial Token Offering Period, such third-party websites or services are, unless explicitly mentioned in these Terms, not authorized by The Priceless Object and have no relationship in any way with The Priceless Object.
  • Transferability of PO9K: The Users will not be able to transfer PO9K until the PO9K have been released. The PO9K transferability will be released at The Priceless Object’s discretion when the Initial Token Offering Period is over and all PO9K (including the PO9K from the Pre-sale) have been allocated and distributed; the process is currently expected to take a few weeks after the conclusion of the Initial Token Offering Period.

8.3.2.3  PO9K Functionality

El PO9K is a token based on the initial value explained in the (The Priceless Object White Paper Section 3.3 Initial coin Offering) under the terms of the Smart Contract System and only constitutes a transferable representation of attributed functions specified in the Smart Contract System. The token will enter the global exchange markets. PO9K will be legal tender and of free exchange and use by the owner  within the principal cryptocoin markets once the Pre-Sale is finished.

In brief, the contributors will enjoy the following benefits:

  1. Holders will be the pioneers of the creation of a new economic model where The Smart Passport and its modules are tools for the exchange of goods and services. PO9K tokens will be used as economic reference.
  2. Holders will enjoy the status of Pioneering Citizens of this supranational and economic proposal through the acquisition of the first PO9K tokens.
  3. Holders will have an exchange tool to be used in the most recognized and principal exchange markets of crypto coins when the ICO is finished. This provides benefits in the short term and it is based on the purchase of the first PO9K tokens at the low introductory price.
  4. Holders will lead the supply and demand dynamic of PO9K in the exchange markets of crypto coins (creating a  market with confidence for the commercialization of the token PO9K).
  5. The token PO9K is the preceding financial instrument prior to the creation of the supranational currency. Therefore, the Pioneering PO9K holders will be privileged during the financial reconversion PO9K – supranational currency in the very near future.
  6. As Pioneering PO9K holders, they will be the first smart passport users transcending historically along the execution of this proposal.
  7. As Pioneering PO9K holders, they will be the first smart passport users transcending historically along the execution of this proposal.
  8. The PO9K token is a usage token which enables users to participate on Devaes platform explained in The Priceless Object White Paper. In practice, the PO9K token may act as a usage token in Devaes network and a settlement token on The Priceless Object marketplace.
  9. Ownership of the PO9K token carries no rights express or implied other than the right to use the PO9K token as a means to enable usage of and interaction with and within the PO9K and/or Devaes Platform. Beyond this, ownership of the PO9K token carries no rights express or implied. In particular, the User understands and accepts that as a holder of PO9K, he/she/it has no right to claim any ownership right or stake, intellectual property rights, equity or equivalent rights or any other form of participation in or relating to The Priceless Object Project (PO9K) and/or PO9K. Through the allocation of PO9K to a User, the User receives no right to receive any revenues generated by the intellectual property rights developed as part of The Priceless Object Project (PO9K) or any other assets. The User understands and agrees that the sole and exclusive usage rights of these intellectual property rights are retained by The Priceless Object and/or its affiliates.

8.3.2.4  Representations and Warranties of User

  1. A) By making the Contribution, the User represents and warrants that:

(1) the User is not a citizen or resident of a country, whose legislation conflicts with obtaining or distributing cryptographic tokens such as PO9K, the contemplated allocation of PO9K and/or The Priceless Object Project (PO9K) in general;

(2) any Funds used for the Contribution are: (a) good, clean, clear and are of non-criminal origin; (b) completely free and clear of any liens or encumbrances of any kind or any rights of third-party interests; and (c) have no origins that may be connected to any breach of money laundering regulations whatsoever, as defined in the jurisdiction of origin, or internationally;

(3) the User is not listed or associated with any person or entity listed on any of the US Department of Commerce Denied Persons or Entity List, the US Department of Treasury’s Specially Designated Nationals or Blocked Persons Lists, the US Department of State’s Debarred Parties List, the EU Consolidated List of Persons, or Groups and Entities Subject to EU Financial Sanctions;

(4) the User has a deep understanding of the functionality, usage, storage, transmission mechanisms and intricacies associated with cryptographic tokens, like bitcoin (BTC) and Waves (WAVES), and Blockchain-based software systems;

(5) the User understands and accepts that there is no warranty or assurance that the network of miners will allocate the PO9K to the Users as proposed by these Terms;

(6) the User has carefully reviewed the Smart Contract System Code located on the WAVES Blockchain at the addresses set forth on The Priceless Object Project (PO9K) website and fully understands and accepts the functions implemented therein;

(7) the User is legally permitted to make the Contribution in order to create and obtain PO9K in the User’s jurisdiction;

(8) the User uses cryptographic wallet software or a wallet service provider that technically supports the PO9K and Waves standard. The User understands and accepts, that failure to assure this may have the result that User will not gain access to his PO9K;

(9) the User is legally permitted to receive software and transfer Funds for the purpose of contributing to the development of The Priceless Object Project (PO9K);

(10) the User is of a sufficient age to legally allocate and obtain PO9K;

(11) the User will take sole responsibility for any restrictions and risks associated with receiving, holding, transferring or using PO9K;

(13) the User is not obtaining or using PO9K for any illegal purposes;

(14) the User is purchasing the functionality of the PO9K primarily to support the development, testing, deployment and operation of The Priceless Object Project (PO9K), being aware of the commercial risks associated with The Priceless Object Project (PO9K);

(15) the User waives the right to participate in a class action lawsuit or a class-wide arbitration against any entity or individual involved with the creation of PO9K or otherwise involved with The Priceless Object Project (PO9K);

(16) the User understands that participation in the Initial Token Offering does not involve the purchase of shares, securities exchangeable into shares or any equivalent in any existing or future public or private company, corporation or other entity in any jurisdiction;

(17) the User understands that the Contribution of Funds, the allocation and distribution of PO9K and the development of The Priceless Object Project (PO9K) carries significant financial, regulatory and reputational risks as further set forth in section 8.3.5;

(18) the User understands and expressly accepts that there is no warranty whatsoever on the PO9K, the Smart Contract System and/or the success of The Priceless Object Project (PO9K), expressed or implied, to the extent permitted by law, and that the Smart Contract System is used and PO9K are allocated and distributed to and obtained by the User at the sole risk of the User on an “as is” and “under development” basis and without, to the extent permitted by law, any warranties of any kind, including, but not limited to, warranties of title or implied warranties, merchantability or fitness for a particular purpose;

(19) the User understands that the User has no right against any other party to request any refund of the Funds Contributed for the allocation and distribution of the PO9K under any circumstance;

(20) the User understands that with regard to The Priceless Object, no market liquidity (including the existence of a marketplace where PO9K can be transferred) may be guaranteed and the value of PO9K may over time experience extreme volatility or depreciate in full;

(21) the User understands that the User bears the sole responsibility to determine if the User’s transfer of Funds, the creation, allocation, ownership or use of PO9K, the potential appreciation or depreciation in the value of PO9K over time and/or any other action or transaction related to The Priceless Object Project (PO9K) have tax implications for him/her/it; by receiving, holding, transferring or using PO9K, and to the extent permitted by law, the User agrees not to hold any third party (including developers, auditors, contractors or founders) liable for any tax liability associated with or arising from the distribution, allocation, ownership or use of PO9K or any other action or transaction related to The Priceless Object Project (PO9K).

  1. B) As part of the PO9K allocation process, the User will use his/her/its own account (address) on the WAVES network, with a private key associated to this address and password. The password is used to protect the access to the use of the User’s private key. Following the creation of PO9K by the Smart Contract System, for User’s participating in the Initial Token Offering, the PO9K will be transferred to the address from which the Contribution was made. In order to receive the PO9K, the User shall ensure that he supplies his own WAVES address and not, e.g., the address of a currency exchange like Poloniex, Coinbase, Bitfinex among others. The User understands that the User must keep his password and private key safe and that the User may not share them with anybody. The User further understands that if his/her/its private key, password and/or back-up seed is lost or stolen, the User may not be able to generate a new password or recover his/her/its private key, and if the User also loses his private keys and password, the PO9K associated with the User’s account (address) will be unrecoverable and will be permanently lost. Furthermore, the User understands that there may be no recovery mechanism for lost keys, passwords and/or back-up seeds, so no one may be able to provide the User with access to any PO9K on accounts whose private key, password and/or back-up seed has been lost.

8.3.3     The Priceless Object Project (PO9K) Execution

  1. A) The User understands and accepts that the development and execution of The Priceless Object Project (PO9K) will be performed by Sugar Fresh Cane Solutions PTY, Ltd. The scope of the development work will be triggered by the aggregate amount of Contributions received, as indicatively laid out in the White Paper; provided, however, that The Priceless Object Project (PO9K) shall have full discretion to determine the scope of development work.
  2. B) The User understands and accepts that the User may not have any expectation of influence over governance on The Priceless Object Project (PO9K).
  3. C) The User understands and accepts that The Priceless Object Project (PO9K) will need to go through substantial development work which may result in significant conceptual, technical and commercial changes before release. The User understands and accepts that as part of the development, an upgrade of the PO9K token may be required (a so-called hard-fork of the PO9K token) and that, if the User decides not to participate in such upgrade, he/she/it may no longer use his PO9K and that any non-upgraded PO9K may lose their functionality in full.

8.3.4     Audit of the Smart Contract System

  1. A) The Smart Contract System has been, on a reasonable effort basis, audited and approved by a technical expert. The technical expert has confirmed that the Smart Contract System has, with regard to both accuracy and security, been programmed according to the current state of the art.
  2. B) However, the User understands and accepts that smart contract technology is still in an early development stage and its application of experimental nature which carries significant operational, technological, financial, regulatory and reputational risks. Accordingly, while the audit conducted raises the level of security and accuracy, the User understands and accepts that the audit does not amount to any form of warranty, including direct or indirect warranties that the Smart Contract System and/or the PO9K are fit for a particular purpose or do not contain any weaknesses, vulnerabilities or bugs which could cause, inter alia, the complete loss of Funds and/or The Priceless Object.

8.3.5     Risks

  1. A) The User understands and accepts the risks associated with Contributing Funds to the Smart Contract System and the creation and distribution of PO9K as exemplary set forth above and hereinafter. In particular, the User understands and accepts the non-exhaustive list of inherent risks:

(1) Risk of software weaknesses: The underlying software application and software platform (i.e. the WAVES Blockchain) are still in an early development stage and unproven, and there are no warranties or covenants that the process for creating or distributing PO9K will be uninterrupted or error-free and why there is an inherent risk that the software could contain weaknesses, vulnerabilities or bugs causing, inter alia, the complete loss of Funds and/or PO9K.

(2) Risk of cryptographic weaknesses: The Blockchain and all software dependent thereon, such as The Priceless Object Project (PO9K) and PO9K are based on the effectiveness and reliability of cryptographic solutions. However, cryptography is evolving and cannot guarantee absolute security at all times. Advances in cryptography, such as code cracking, or technical advances such as, but not limited to,  the development of quantum computers, could present risks to all cryptography-based systems including The Priceless Object Project (PO9K). This could result in the theft, loss, disappearance, destruction or devaluation of the PO9K held by the User.

(3) Regulatory risk: The Blockchain technology allows new forms of interaction and it is possible that certain jurisdictions will apply existing regulations on, or introduce new regulations addressing, Blockchain technology based applications, which may be contrary to the current setup of the Smart Contract System and which may, inter alia, result in substantial modifications of the Smart Contract System and/or The Priceless Object Project (PO9K), including its termination and the loss or devaluation of PO9K held by the User.

(4) Risk of insufficient information: The Priceless Object Project (PO9K) is at a very early developmental stage and its philosophy, consensus mechanism, algorithm, code and other technical specifications and parameters could be updated and changed frequently and constantly. While the White Paper contains the up-to-date key information related to The Priceless Object Project (PO9K) at the date of the Whitepaper, it is not complete or final and is subject to adjustments and updates that The Priceless Object may make from time to time. Sugar Cane Fresh Solutions PTY, Ltd. is not in a position, nor obliged, to keep the Users closely posted on every detail of The Priceless Object Project (PO9K)’s development (including its progress and expected milestones, whether re- scheduled or not) and therefore will not necessarily provide the Users with timely or full access to all the information relating to The Priceless Object Project (PO9K) that may emerge from time to time.

(5) Risks related to unverified source code: The source code of the PO9K Platform may be licensed under open-source license terms and any party related or unrelated to The Priceless Object Project (PO9K) can propose updates, amendments, alterations or modifications to the source code.

(6) Risks related to competition: The source code of the PO9K Platform may be licensed under open-source license terms. As a result, anyone can legally copy, replicate, reproduce, engineer, modify, improve or otherwise utilise the source code and/or underlying source code of the PO9K Platform in an attempt to develop a competing protocol, software, system or virtual platform or virtual machine, which is out of The Priceless Object’s control and may consequently compete with or even overshadow or overtake The Priceless Object Project (PO9K), which may adversely affect The Priceless Object Project (PO9K) or the PO9K value.

(8) Risk associated with other applications: The Priceless Object Project (PO9K) may give rise to other, alternative projects, promoted by unaffiliated third parties, under which PO9K will have no intrinsic value.

(9) Risk of loss of private key: PO9K can only be accessed by using an WAVES wallet with a combination of the User’s account information (address), private key, password and any other protection used by the User. If the User’s private key file, password or the back-up seed is lost or stolen, the PO9K associated with the User’s account (address) or password may be unrecoverable and permanently lost.

(10) Risk of theft: The Smart Contract System concept, the underlying software application and software platform (i.e. the WAVES Blockchain), or other assets of The Priceless Object Project (PO9K), may be exposed to attacks by hackers or other individuals that could result in theft or loss of PO9K or Funds, which may lead to a loss or devaluation of Funds and/or PO9K and the ability to develop The Priceless Object Project (PO9K).

(11) Risk of WAVES mining and other malicious attacks: As with other cryptocurrencies, the Blockchain used for the Smart Contract System is susceptible to mining and other malicious attacks, including but not limited to double-spend attacks, majority mining power attacks, “selfish-mining” attacks, and race condition attacks. Any successful attacks present a risk to the Smart Contract System, expected proper execution and sequencing of PO9K transactions, and expected proper execution and sequencing of contract computations.

(12) Risk of changes in Smart Contract System: The network of miners (or, in the future, potentially a network of staking nodes) will be ultimately in control of the Smart Contract System. A majority of these miners could agree at any point to make changes to the Smart Contract System and to run the new version of the Smart Contract System, which could lead to reduced functionality of the PO9K Platform and/or devaluation of PO9K.

(13) Risk of incompatible Wallet service: The cryptographic wallet software or wallet service provider of the User must be technically compatible with the PO9K. The failure to assure this may lead to the User being unable to gain access to his PO9K.

8.3.6     Taxation

  1. A) The User bears the sole responsibility to determine if the Contribution to the Smart Contract System; the creation, allocation, ownership and use of PO9K or the purchase and there of after allocation and distribution; the potential appreciation or depreciation in the value of PO9K over time; and/or any other action or transaction related to The Priceless Object Project (PO9K) or Sugar Cane Fresh Solutions PTY, LTD have tax implications for him/her/it.
  2. B) By receiving, holding, transferring or using PO9K, to the extent permitted by law, the User agrees not to hold any third party (including The Priceless Object Team Members as well as other developers, auditors, contractors or founders associated with the PO9K, the Smart Contract System, The Priceless Object Project (PO9K)) or Sugar Cane Fresh Solutions PTY, LTD liable for any tax liability associated with or arising from the creation, allocation, distribution, ownership or use of PO9K or any other action or transaction related to The Priceless Object Project (PO9K).

8.3.7     No Liability

  1. A) the acquisition of PO9K under this agreement, the use of PO9K are provided on an ‘as is’ and ‘as available’ basis, the company and its affiliates make no representations of any kind, express, implied, statutory or otherwise regarding the acquisition of PO9K under this agreement, and the contract including any warranty that the contract will be uninterrupted, error free or free of harmful components or that any content will be secure or not otherwise lost or damaged. except to the extent prohibited by law, the company, its directors, officers, members, employees, agents, attorneys, representatives, affiliates and associates do not accept any liability for any damage or loss, including loss of business, revenue, or profits, or loss of or damage to data, equipment, or software (direct, indirect, punitive, actual, consequential, incidental, special, exemplary or otherwise), resulting from any use of, or inability to use tokens, regardless of the basis, upon which the liability is claimed. buyer assumes all risk of loss resulting from, concerning or associated with risks set forth in this agreement , which are hereby incorporated by reference into this agreement.
  2. B) the User further specifically acknowledges that The Priceless Object Team Members or other developers, auditors, contractors or founders associated with the PO9K, the Smart Contract System, The Priceless Object Project (PO9K) and/or Sugar Cane Fresh Solutions PTY, Ltd.,  are not liable, and the User agrees not to seek to hold them liable, for the conduct of third parties and that the risk of receiving, holding, transferring and using PO9K rests entirely with the User.
  3. C) By receiving, holding, transferring or using PO9K, and to the extent permitted by law, the User agrees not to hold any third party (including The Priceless Object Team Members and other developers, auditors, contractors or founders associated with the PO9K, the Smart Contract System, The Priceless Object Project (PO9K) and/or Sugar Fresh Cane Solutions PTY, Ltd.) liable for any regulatory implications or liability associated with or arising from the creation, allocation, distribution, ownership or use of PO9K or any other action or transaction related to The Priceless Object Project (PO9K).

8.3.8     Miscellaneous

  1. A) The User agrees that if any portion of these Terms is found illegal or unenforceable, in whole or in part, such provision shall, as to such jurisdiction, be ineffective solely to the extent of such determination of invalidity or unenforceability without affecting the validity or enforceability thereof in any other manner or jurisdiction and without affecting the remaining provisions of the Terms, which shall continue to be in full force and effect.
  2. B) The Terms govern the creation, allocation, distribution, ownership and use of PO9K and supersede any public statements and other documentation about the launch of PO9K and/or the Smart Contract System made by anyone in the past, present and future.

C) The applicable law is the law of Australia. Any dispute arising out of or in connection with this contract, including any question regarding its existence, validity or termination, shall be referred to and finally resolved by arbitration administered by the The Australian Centre for International Commercial Arbitration (ACICA) in accordance with the Arbitration Rules of the Australian Centre for International Commercial Arbitration (“ASICA Rules”) for the time being in force, which rules are deemed to be incorporated by reference in this clause. The seat of the arbitration shall be Australia. The language of the arbitration shall be English.

To anyone wishing to change the world, here is how

THE PRICELESS OBJECT