FROM THE BLOG

Swachhcoin Terms and Conditions

This token generation event’s terms and conditions (“T&Cs;”) present imperative information necessary to participate in our token sale in order to get hold of Swachhcoin tokens, abbreviated as “SCX”. Token sale is organised by Swachhcoin, a non-profit organisation. References in these T&Cs; to “Contributor”, “your” or “you” are to the person/entity who accepts these T&Cs; and agrees to and makes a contribution to the Company as set out in and on the terms of these T&Cs.;

Please read these T&Cs; carefully. By making a contribution to Swachhcoin to get the hold of Swachhcoin tokens during the token sale, you will be bound by these T&Cs; and all terms incorporated herein by reference.

By accepting the T&Cs;, you will be entering into a binding agreement with Swachhcoin’s T&Cs; and any other materials provided to you with respect to the token sale, including, but not limited to, the White Paper describing the token sale from the date of your execution of this TGE Participation Agreement. These T&Cs; contain provisions which affect your legal rights. If you do not agree to any of the terms set out in these T&Cs;, you believe that any terms should not apply to you, or you wish to negotiate these terms, do not make a contribution to Swachhcoin and immediately navigate away from the company’s website.

We advise you to review all the things attentively. If you are sceptical about the action you should take, we strongly recommend that you should consult your legal, financial, tax or other professional advisor(s).

Swachhcoin Platform

The Company is proposing to develop a decentralized platform aimed at providing smart contract and Blockchain based solutions for waste management (the “Swachhcoin Platform”). For a detailed description of the proposed Swachhcoin Platform, you must go through the links provided:

• Swachhcoin website at https://swachhcoin.com
• Swachhcoin Whitepaper at https://swachhcoin.com/whitepaper.pdf

Please note that we are in the process of undertaking a legal and regulatory analysis of the functionality of Swachhcoin. Following the conclusion of this analysis, we may decide to amend the intended functionality of Swachhcoin in order to ensure compliance with any legal or regulatory requirements to which we are subject. We shall publish a notice on the company’s website of any changes that we decide to make to the functionality of Swachhcoin and it is your responsibility to regularly check the company’s website for any such notices. Following the conclusion of this analysis, we will decide whether or not to change the functionality of Swachhcoin.

Swachhcoin Token Creation and Intended Distribution

• It is envisaged that during the Token Sale (including the pre-sale and early adopter sale campaign), Swachhcoin will sell 69% of all tokens issued.
• 9% of all tokens shall be retained by the Company and reserved for distribution to the Swachhcoin development team and founders.
• 8% of all tokenswill be locked in swachhcoin vault.
• 7% of all tokens to be created shall be allocated as rewards to members of the Swachhcoin community (Advisors/Partners) who actively contribute to the development of the Swachhcoin Platform and the growth of the ecosystem.
• 4% of all tokens are allocated to our bounty campaign.
• 3% of all tokens are allotted to philanthropy (Refer whitepaper for details).

Any SCX that are not purchased during the Token Sale (including the pre-sale and early adopter sale campaign) shall be burned except otherwise will be indicated by notice.

Contributor’s representation and warranties

1. You have the necessary authority and consent to accept these T&Cs;, to enter into a binding agreement with the Company and to perform the obligations set out herein
2. The acceptance of these T&Cs; and the entry into a binding agreement with the Company shall not result in any breach of, be in conflict with, or constitute a material default under:
   1. Any provision of the Contributor’s constitutional or organisational documents (in the case of a corporate entity including, without limitation, any company or partnership).
   2. Any provision of any judgment, decree or order imposed on the Contributor by any court or governmental or regulatory authority.
   3. Any material agreement, obligation, duty or commitment to which the Contributor is a party or by which the Contributor is bound.
3. You have sufficient understanding of the functionality, usage, storage, transmission mechanisms and intricacies associated with cryptographic tokens (like ETH), token storage facilities (including digital token wallets), blockchain technology and blockchain-based software systems
4. You have obtained sufficient information about the potential future use and functionality of SCX to make an informed decision to participate in the Token Sale pursuant to these T&Cs;
5. you understand that SCX confer only a limited potential future right or expectation to use and interact with the Swachhcoin Platform as more particularly described in whitepaper, and that SCX confer no other rights of any kind with respect to the Company and/or the Swachhcoin Platform, including, but not limited to, any voting, distribution, redemption, liquidation, proprietary (including all forms of intellectual property rights), or other financial or legal rights
6. If you are an individual (i.e. a natural person), you are at least 18 years of age, you have sufficient legal capacity to accept these T&Cs; and to enter into a binding agreement with the Company on the terms set out herein
7. If you are making a contribution for the acquisition of SCX as a corporate entity including, without limitation, any company or partnership (or other type of legal entity that is not a natural person), such entity is duly incorporated, registered and validly existing under the applicable laws of the jurisdiction in which the entity is established
8. If you are making a contribution for the purchase of SCX for or on behalf of an entity or person, you are authorized to accept these T&Cs; and enter into a binding agreement with the Company on such entity’s or person’s behalf (and in such circumstances, references in these T&Cs; to “Contributor”, “your” or “you” shall be a reference to the entity or person on whose behalf you are authorised to make a contribution)
9. You are making a contribution for the purchase of SCX to support the development, testing, deployment and operation of the Swachhcoin Platform and to potentially use and interact with the Swachhcoin Platform at a future point in time. You are not making a contribution under these T&Cs; for any other uses or purposes, including, but not limited to, any investment, speculative or other financial purposes
10. Any contribution to be made by you for the purchase of SCX is not derived from or related to any unlawful activities, including but not limited to money laundering or terrorist financing activities
11. You shall not use SCX to finance, engage in, or otherwise support any unlawful activities
12. You shall use SCX as intended on the Swachhcoin Platform
13. In the case of a contribution made in ETH, the contribution shall be transferred to the Company from an Ethereum Wallet and/or address, respectively, that:
    1. Is registered in your name and under your sole control or registered in the name and under the sole control of a person who is duly authorised by you to send a contribution on your behalf to the Company; and
    2. Is not located in or that is not registered in the name of a person located in or resident of any country or territory that has been designated by the Financial Action Task Force as a “non-cooperative country or territory” (each a “Prohibited Jurisdiction”)
14. Making a contribution and receiving SCX under these T&Cs; is not unlawful or prohibited under the laws of your jurisdiction or under the laws of any other jurisdiction to which you may be subject and any contribution shall be made in full compliance with applicable laws (including, but not limited to, in compliance with any tax obligations to which you may be subject in any relevant jurisdiction)
15. You are not a citizen of or resident or domiciled in a Prohibited Jurisdiction or making a contribution for the purchase of SCX from a location in a Prohibited Jurisdiction, nor are you an entity (including, but not limited to, any company or partnership) incorporated, established or registered in or under the laws of a Prohibited Jurisdiction, nor are you making a contribution for the purchase of SCX for or on behalf of any such person or entity
16. You are not the subject of any sanctions administered or enforced by any country, government or international authority nor are you resident or established (in the case of a corporate entity) in a country or territory that is the subject of a country-wide or territory-wide sanction imposed by any country or government or international authority
17. You will comply with any applicable tax obligations in your jurisdiction arising from your acquisition, storage, sale or transfer of SCX
18. You shall provide us with details of an Ethereum Wallet that supports the ERC20 token standard (i.e. technically supports the receipt, storage, holding and transfer of tokens such as SCX)
19. You engage or expect to engage in a meaningful number of cryptocurrency or other transactions, such as e‑commerce businesses, involving token exchanges or traditional financial institutions, and you understand and accept the risks of participating in token sales relating to early stage blockchain start-up businesses and acknowledge that these risks are substantial. You further warrant and represent that your contribution does not represent a meaningful or substantial proportion of your wealth or net worth, and that you are willing to accept the risk of loss associated with the contribution made under these T&Cs;
20. You understand that SCX are solely rights to access and use services and products on the Swachhcoin Platform, and do not have any attribute that provides the holder with equity, creditor or similar rights. SCX should not be considered investments of any type, including but not limited to, any form of currency or security, and the Contributor should not expect profits of any type from acquiring SCX nor acquire SCX for any type of investment purposes
21. You acknowledge you fully understand the contents of the Project Documentation provided by Swachhcoin and are participating in the Token Sale with the intention of fully accepting the risk of the failure of the Swachhcoin Platform
22. You have carefully reviewed the code of the Smart Contract located on the Ethereum blockchain and fully understand and accept the functions as further described in the Project Documentation
23. You are making a contribution primarily to support the development, testing, deployment and operation of Swachhcoin Platform, being aware of the risks associated with it (as further described under the heading “Risk factors” to these T&Cs;), and are not contributing to the Company for any speculative, investment or other financial purposes
24. You shall waive the right to participate in a class action lawsuit or a class-wide arbitration against Swachhcoin, its founders and team members or any entity or individual involved in Swachhcoin project
25. You understand that you do not have any right against Swachhcoin, its founders and team members or any other party to request any refund of your contribution provided during the Token Sale
26. You understand that you bear the sole responsibility to determine if your contribution and obtainment of SCX, use of SCX and the potential appreciation or depreciation in the value of SCX over time, the sale and purchase of SCX and/or any other action or transaction related to SCX, Swachhcoin or the Swachhcoin Platform have tax implications for you
27. All of the above representations and warranties are true, complete, accurate and non-misleading from the time of your access to and/or acceptance of possession of these T&Cs;

Risk Factors

1. Risk of software weaknesses: Because SCX, the Smart Contract System and the Swachhcoin Platform are based on the Ethereum protocol, any malfunction, breakdown or abandonment of the Ethereum protocol may have a material adverse effect on SCX, the Smart Contract System and/or the Swachhcoin Platform. Moreover, advances in cryptography, or technical advances such as the development of quantum computing, could present risks to the SCX (including the utility of SCX for obtaining services), the Smart Contract System and/or the Swachhcoin Platform, by rendering ineffective the cryptographic consensus mechanism that underpins the Ethereum protocol. The Smart Contract System concept, the underlying software application and software platform (i.e. the Ethereum blockchain) is still in an early development stage and unproven. There is no warranty or assurance that the process for creating SCX will be uninterrupted or error-free and why there is an inherent risk that the software could contain defects, weaknesses, vulnerabilities, viruses or bugs causing, inter alia, the complete loss of contributions and/or SCX.
2. Regulatory risk: 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 result in substantial modifications to the Smart Contract System and/or the Swachhcoin Platform, including its termination and the loss of SCX for the Contributor. Additionally, regulation of proposed activities of the Swachhcoin Platform is currently uncertain. It is not known what regulatory framework the proposed Swachhcoin Platform and associated activities will be subject to, the nature and obligations that will be imposed on the Company in order to comply with any such regulatory framework or when/if the Company will even be able to apply to be regulated, or successfully obtain the necessary licences so that it may lawfully carry out its proposed business activities.
3. Risks associated with uncertain regulations and enforcement actions: The regulatory status of SCX and distributed ledger technology is unclear or unsettled in many jurisdictions. It is difficult to predict how or whether regulatory authorities may apply existing regulation with respect to such technology and its applications, including specifically (but without limitation to) the Swachhcoin Platform and SCX. It is likewise difficult to predict how or whether any legislative or regulatory authorities may implement changes to law and regulation affecting distributed ledger technology and its applications, including specifically (but without limitation to) the Swachhcoin Platform and SCX. Regulatory actions could negatively impact the Swachhcoin Platform and SCX in various ways, including, for purposes of illustration only, through a determination that SCX are a regulated financial instrument that requires registration or licensing. The Company may cease operations in a jurisdiction in the event that regulatory actions, or changes to law or regulation, make it illegal to operate in such jurisdiction, or commercially undesirable to obtain the necessary regulatory approval(s) to operate in such jurisdiction.
4. Risk of abandonment / lack of success: The creation and issue of SCX and the development of the Swachhcoin Platform may be abandoned for a number of reasons, including lack of interest from the public, lack of funding, lack of commercial success or prospects (e.g. caused by competing projects). There is no assurance that, even if any such Swachhcoin Platform is partially or fully developed and launched, you will receive any benefits through SCX that you hold.
5. Risk associated with other applications: The Swachhcoin Platform may give rise to other, alternative projects, promoted by unaffiliated third parties, under which SCX will have no intrinsic value. This means that competitors may produce platforms that compete with the Swachhcoin Platform and may not accept SCX as payment for services within such platforms; further, such platforms may become more popular and have greater success than the Swachhcoin Platform. The Swachhcoin Platform relies on software and other technology which may malfunction and/or work in a manner that is not intended, resulting in loss of SCX and/or access to the Swachhcoin Platform.
6. Risks associated with markets for SCX: The Company may choose not enable or otherwise facilitate any secondary speculative trading or any such external valuation of SCX. This may restrict the contemplated avenues for using SCX to the token functionality and could therefore create illiquidity risk with respect to any SCX you own. Even if secondary trading of SCX is facilitated by third-party exchanges, such exchanges may be relatively new and subject to little or no regulatory oversight, making them more susceptible to fraud or manipulation. Furthermore, to the extent that any third party ascribes an external exchange value to SCX (e.g. as denominated in a crypto or fiat currency), such value may be extremely volatile and diminish to zero. If you are purchasing the SCX as a form of investment on a speculative basis or otherwise, or for a financial purpose, with the expectation or desire that their inherent, intrinsic or cash-equivalent value may increase with time, you assume all risks associated with such speculation or actions, and any errors associated therewith, and accept that the SCX are not offered by the Company or its affiliates on an investment basis. You further acknowledge that any contribution that you make under these T&Cs; (or you consider to be invested in the Company) will not be protected, guaranteed or reimbursed by any governmental, regulatory or other entity, and will not, for instance be guaranteed by the Gibraltar Deposit Guarantee Scheme, the Gibraltar Investor Compensation Scheme, and is unlikely to be protected by any equivalent scheme in a jurisdiction outside of Gibraltar.
7. Risk of losing access to tokens due to loss of private key(s), custodial error or your error: SCX can only be accessed by using an Ethereum Wallet with a combination of the Contributor’s account information (address), private key and password. The private key is encrypted with a password. You acknowledge, understand and accept that if your private key or password gets lost or stolen, the obtained SCX associated with your Ethereum Wallet may be unrecoverable and permanently lost. Additionally, any third party that gains access to your private key, including by gaining access to the login credentials relating to your Ethereum Wallet, may be able to misappropriate your SCX. Any errors or malfunctions caused by or otherwise related to the digital wallet or vault you choose to receive and store SCX, including your own failure to properly maintain or use such digital wallet or vault, may also result in the loss of your SCX.
8. Risk of theft: The Smart Contract System concept, the underlying software application and software platform (i.e. the Ethereum blockchain) may be exposed to attacks by hackers or other individuals including, but not limited to, malware attacks, denial of service attacks, consensus-based attacks, Sybil attacks, smurfing and spoofing. Any such successful attacks could result in theft or loss of contributions or SCX, adversely impacting the ability to develop the Swachhcoin Platform and derive any usage or functionality from SCX. Furthermore, because the Swachhcoin Platform is based on open-source software, there is a risk that a third party or a member of the Company’s team may intentionally or unintentionally introduce weaknesses or defects into the core infrastructure of the Swachhcoin Platform, which could negatively affect the Swachhcoin Platform and SCX.
9. Risk of Ethereum mining attacks: As with other cryptocurrencies, the blockchain used for the Smart Contract System is susceptible to mining attacks, including but not limited to double-spend attacks, majority mining power attacks, “selfish-mining” attacks, and rare condition attacks. Any successful attacks present a risk to the Smart Contract System, expected proper execution and sequencing of token transactions, and expected proper execution and sequencing of contract computations. You understand and accept that the network of miners will ultimately be in control of the delivery of the SCX via the Smart Contract System, and that a majority of miners could agree at any point to make changes, updates, modifications to, or effect a deletion or destruction of the Smart Contract System, and that such a scenario could lead to the SCX losing intrinsic value and/or functionality.
10. Risk of incompatible wallet service: The wallet or wallet service provider used to receive SCX must to conform to the ERC20 token standard in order to be technically compatible with SCX. The failure to ensure such conformity may have the result that you will not gain access to your SCX.
11. Risk of hard-fork: The Swachhcoin Platform will need to go through substantial development works as part of which it may become the subject of significant conceptual, technical and commercial changes before release. As part of the development, an upgrade to SCX may be required (hard-fork of SCX) and that, if you decide not to participate in such upgrade, you may no longer be able to use your SCX and any non-upgraded SCX may lose its functionality in full.
12. Risk of uninsured losses: Unlike bank accounts or accounts at some other financial institutions, SCX are uninsured unless you specifically obtain private insurance to insure them. Thus, in the event of loss or loss of utility value, there is no public insurer or private insurance arranged by us, to offer recourse to you.
13. Risks arising from taxation: The tax characterization of SCX is uncertain. You must seek your own tax advice in connection with acquisition, storage, transfer and use of SCX, which may result in adverse tax consequences to you, including, without limitation, withholding taxes, transfer taxes, value added taxes, income taxes and similar taxes, levies, duties or other charges and tax reporting requirements.
14. Risk of an unfavourable fluctuation of Ethereum and other currency value: The Company intends to use the contributions received to fund the development of SCX, the Swachhcoin Platform and various other operating expenses. The contributions received will be denominated in ETH, and may be converted into other cryptographic and fiat currencies. If the value of ETH or other currencies fluctuates unfavourably during or after the Contribution Period, the Company may not be able to fund the development of, or may not be able to maintain, the Swachhcoin Platform in the manner that it intended.
15. Risk of dissolution of the Company or network: It is possible that, due to any number of reasons, including, but not limited to, an unfavourable fluctuation in the value of ETH (or other cryptographic and fiat currencies), decrease in SCX utility due to negative adoption of the Swachhcoin Platform, the failure of commercial relationships, or intellectual property ownership challenges, the Swachhcoin Platform may no longer be viable to operate and the Company may dissolve and may not be able to continue the development of the Swachhcoin Platform.
16. Risks arising from lack of governance rights: Because SCX confer no governance rights of any kind with respect to the Swachhcoin Platform or the Company; all decisions involving the Company (including to sell or liquidate the Company) will be made by the Company acting in its sole and absolute discretion, and all decisions involving the Swachhcoin Platform including, but not limited to, decisions to discontinue the Swachhcoin Platform, to create and issue more SCX, will be made by the Company. These decisions could adversely affect the Swachhcoin Platform and/or SCX you hold.
17. Risks associated with the development and maintenance of the Swachhcoin Platform: The Swachhcoin Platform is still under development and may undergo significant changes over time. Although we intend for the SCX and Swachhcoin Platform to function as described in our whitepaper, and intend to take commercially reasonable steps towards those ends, we may have to make changes to the specifications of the SCX or the Swachhcoin Platform for any number of legitimate reasons. Moreover, we may not be able to retain full and effective control over how other participants will use the Swachhcoin Platform, what products or services will be offered through the Swachhcoin Platform by third parties, or how third-party products and services will utilize SCX (if at all). This could create the risk that the SCX or Swachhcoin Platform, as further developed and maintained, may not meet your expectations at the time of purchase. Furthermore, despite our good faith efforts to develop and participate in the Swachhcoin Platform, it is still possible that the Swachhcoin Platform will experience malfunctions or otherwise fail to be adequately developed or maintained, which may negatively impact the Swachhcoin Platform and SCX, and the potential utility of the SCX, including the utility of the SCX for obtaining services and/or offering rewards and/or being used in the manner intended at the time of the Token Sale.
18. Risk of Competing Platforms: It is possible that alternative platforms could be established that utilize the same open source code and protocol underlying the Swachhcoin Platform and attempt to facilitate services that are materially similar to the services offered by or within the Swachhcoin Platform. The Swachhcoin Platform may compete with these alternatives, which could negatively impact the Swachhcoin Platform and SCX, including the utility of the SCX for obtaining services offered by or within the Swachhcoin Platform.
19. Unanticipated Risks: Cryptographic tokens such as SCX are a new and untested technology. In addition to the risks set out in these T&Cs;, there are other risks associated with your acquisition, storage, transfer and use of SCX, including those that the Company may not be able to anticipate. Such risks may further materialize as unanticipated variations or combinations of the risks set out in these T&Cs.;