From the very start of Tokia exchange, we chose to self-regulate by applying KYC (Know Your Customer) and AML (Anti Money Laundering) guidelines. The objectives of these KYC guidelines is to prevent us from being used, intentionally or unintentionally, by criminal elements for money laundering activities. This helps us to manage the risks prudently.
1. General provisions
1.1 The general terms and conditions herein (“GTC”) exclusively apply to any and all transactions, contracts and any all business relationships with Tokia Ltd., in particular including transactions and business relationships with/on any online or electronic platform of Tokia (e.g. https://www.tokia.io/).
1.2 If not explicitly agreed in writing, Tokia does not accept any other terms, in particular not any other general terms and conditions or other business terms, of its clients/contract partners /business partners. For the avoidance of doubt, Tokia herewith excludes any implicit acceptance of other parties’ general terms and conditions or other business terms to any of Tokia’s transactions, contracts and business relationships.
1.3 Tokia offers services only to and enters into contracts only with persons of legal age.
2. Becoming a Tokia client
2.1 Persons interested in using the Tokia system have to register themselves at the Tokia platform by providing Tokia with valid and true information as required in the registration process. A person having successfully completed the registration process (which is confirmed by Tokia) is called “Tokia Client”.
2.2 In order to use the trading options on the Tokia platform a Tokia Client has to verify his/ her/ its account. A Tokia Client’s trading limits depend on such verification level. The verification processes and requirements depend mainly on security requirements, in particular AML considerations, and may change from time to time depending on the legal framework.
2.3 Each Tokia Client ensures that he/she/it holds any and all details of his password confidential and such Tokia Client only acts for himself/herself/itself and has opened the account only for himself/herself/itself. It is also forbidden to act as intermediary of any kind or broker of any kind or trustee of any kind for any person or to allow access of any kind to the account to any other person than himself/herself/itself. As a preventive security measure, Tokia recommends that each Tokia Client uses his/her/its two factor authentication identification components (“2FAIC”).
2.4 When a password is reset, Tokia pauses any payment to and/ or transfer of Tokens (as defined in item 3.1) to a Tokia Client or out of the Tokia system for security reasons for a period of 48 hours. Each Tokia Client confirms that he/ she/ it is aware of this security measure and accepts it.
2.5 A Tokia Client shall:
2.5.1 ensure prompt execution of any contracts and shall refrain from activities which would thwart or endanger such execution.
2.5.2 immediately report all defects or other problems which such Tokia Client either causes or gets aware of and shall assist Tokia to remedy the problem
2.5.3 immediately update via the platform or submit to Tokia via registered mail any changes of personal data (name, mailing/ postal address and email address). Each Tokia Client is aware and accepts that Tokia shall always use the last email address and last postal address which the Tokia Client has informed Tokia on, and that any message delivered to such email or postal address shall be legally delivered.
2.5.4 at all times ensure that he/ she/ it has available and in usable condition his/ her/ its 2FAIC, if used by the respective Tokia Client. In the case of loss of the 2FAIC, the Tokia Client must immediately inform Tokia about this loss and follow Tokia support team member’s instructions. Each Tokia Client acknowledges and accepts that such instructions may be deferred depending on the utilization of Tokia support team and Tokia is not liable for any claims of a Tokia Client due to such delay. If the Tokia Client is not able to follow the instructions and comply with the security rules and requirements such Tokia Client will not be able to access the relevant page and/ or his/ her/ its Tokia Client Account again and the Tokia Client’s Account including any Token may not be and cannot be used by such Tokia Client until he/ she/ it can find/ remember/ regain the correct 2FAIC. Each Tokia is aware and accepts this “No Recover Policy” which is a major and important immanent part of a system dealing with cryptographic blockchain-based digital information units.
2.6 Tokia requires certain specified information from its Tokia Clients in the process of becoming a Tokia Client. Each Tokia Client is aware and accepts herewith that Tokia may at Tokia’s sole discretion decide at which point in time a Tokia Client must deliver copies of passports (in notarized and apostilled form or not) and any other documents required by law and/ or as defined in Data Protection Terms; if being a legal entity copies of company register excerpts/ equivalents (in notarized and apostilled form or not) and any other documents required by law and/ or as defined in Data Protection Terms.
3.1 Tokia provides a platform for the exchange of cryptographic blockchain-based digital information units, such as Bitcoin, Ripple, Bitcoin Cash, Ether and Litecoin, (“E- Token”), for the exchange of fiat token (“F-Token”) into E-Token and vice versa (E- Token and F-Token together referred to as “Token”) and for the sell and purchase of Token with a currency that is legal tender. The characteristics of E-Token can be viewed in the supplementary listings at http://www.bitcoin.org. The E-Tokens traded on the Tokia platform can be changed, amended and/or modified at any time and in the sole discretion of Tokia.
3.2 Exchange and Sale/Purchase with Tokia is exclusively done in the following way, if not explicitly agreed on otherwise in writing:
3.2.1 A Tokia Client offers bindingly to exchange, sell or buy (part of) Token(s) to Tokia. To make such binding offer, the Tokia Client has to (i) correctly fill in all necessary, valid and correct data on Tokia’s respective website trading screen, (ii) confirm the acceptance of the GTC, (iii) confirm the Data Protection Terms and (iv) click/confirm either “Order with payment required!” or “Sell now!” button (point (iv) referred to as the “Final Offer Click”). For the avoidance of doubt in this context the word “buy” is to be interpreted and qualified exclusively as a “binding offer to accept the receipt of E-Token in exchange for the specified amount in a currency which is legal tender or F-Token”, or, a “binding offer to accept the receipt of F-Token in exchange for the specified amount in a currency which is legal tender ” and the word “sell” is to be interpreted and qualified exclusively as “binding offer to accept the receipt of F-Token or the specified amount in a currency which is legal tender or the equivalent amount in form of Cooperation Vouchers (see item 6) in exchange for Token”. Both aforementioned Tokia Client offers are herein referred together as a “Tokia Client Offer”. The conditions offered by Tokia for the Tokia Client’s order are valid for 15 minutes after the Final Offer Click (“Price Guarantee”) which is the maximum time to validate the Tokia Client Offer by the Tokia Client. A Tokia Client is bound by his/her/its respective Tokia Client Offer for a period of one week after the Final Offer Click ( “Offer Period”). Tokia confirms to Tokia Client immediately after having received a Tokia Client Offer the receipt of the Tokia Client Offer.
3.2.2 After having received the Tokia Client Offer Tokia may or may not accept such offer by factual fulfilling of the offer at Tokia’s sole discretion within the Offer Period (the “Contract Conclusion and Order Fulfillment Action” or “CCOFA”). For any payments in currency that is legal tender from and to a Tokia Client Tokia shall use a payment service provider. In case Tokia factual fulfilled the Tokia Client Offer without full receipt of the payment as agreed in the Tokia Client Offer, the respective Tokia Client is obliged to pay such outstanding amount (“Default in Payment”). In case of any Default in Payment the consequences as outlined in item 4.2 and 8.7 apply.
3.3 Any figures, numbers, exchange reference prices or other relevant publications by Tokia, either on relevant webpages or in another way, are in no case offers, nor binding offers, nor guarantees for an exchange but always to be seen as invitations to Tokia Clients to provide offers for exchange to Tokia (invitation ad offerandum).
3.4 Tokia exclusively allows Tokia Clients to make exchange offers based on positive balances on the respective Tokia Client Account. Short selling, meaning an offer with respect to F-Token or E-Token which are not booked as positive balance on the respective Tokia Client Account, is forbidden and blocked by the system. Respectively Tokia Client Offer is technically limited with the Tokia Client’s positive balance of such offer and the limits pursuant to the verification level of the Tokia Client’s account. Tokia reserves the right to further limit the range of a Tokia Client Offer at Tokia’s sole discretion to certain specified limits per Tokia Client.
3.5 Delays in the processing of the Tokia Client Offers can occur due to unforeseen technical disruptions. Therefore, Tokia does neither offer any guarantee of immediate offer processing nor assumes any liability related thereto, in particular not with respect to any changes of prices, valuations or other conditions with respect to any offered Tokens or services, except the Price Guarantee as outlined in point 3.2.1 of these GTC.
3.6 Tokia Clients are aware that there might be significant delays when shipping Token to the respective Tokia Account Wallet, since most Token are stored “cold”, which means offline. Respectively additional non-automated handling might be necessary triggering such delays.
4. Tokia client account
4.1 Tokia allows only one account per Tokia Client (“Tokia Client Account”). Double-accounts are strictly forbidden. Should another account (the “double-account”) be created in addition to the Tokia Client’s first account (the “original-account”), the following applies: Tokia has the right to block and keep the double-account locked. Tokens which are stored on the double-account will be transferred by Tokia to the Tokia Client’s original-account provided that the Tokia Client can proof (for example via the identification service used by Tokia) that they are the same person. In such cases, Tokia is authorised to charge an administrative fee of EUR 5.00 and if necessary deduct the fee from the transferred Token(s).
4.2 Tokia reserves the right to lock and/or freeze and/or close a Tokia Client Account (including the block (Blockierung) of a transaction, reverse (Rückabwicklung) of a transaction, hold (Aussetzung) of a transaction, rescission (Rücktritt) from a contract/transaction, the loss of any vouchers) immediately and without further notice to the Tokia Client,
4.2.1 such Tokia Client has been accused of (including any reasonably documented media reports or market rumors on): fraud, terror financing, money laundering, tax fraud, or any other breach or violation of relevant criminal, administrative or tax laws in any country of the world, being part of a Ponzi scheme of any kind, using matrix programs/ pyramid programs/ multi-level marketing or other high risk business detrimental to customers of any kind (in particular if participating in a program as set forth under point 13.5); unlawful activity in any country of the world; forbidden gambling; intellectual property or proprietary rights infringement, counterfeit or unauthorized goods; using/distributing drugs and drug paraphernalia or substances designed to mimic illegal drugs; producing/distributing adult content and services; using unfair, predatory or deceptive practice via customers or persons; etc.
4.2.2 Tokia has been informed of official investigations (by any competent public authority, in particular but not limited to any public prosecutors in the field of criminal law or tax agents) against such Tokia Client with respect to fraud, terror financing, money laundering, tax fraud, or any breach or violation of relevant criminal, administrative or tax laws in any country of the world.
4.2.3 a Tokia Client has breached his obligations against Tokia under the GTC (e.g. any delayed payment) without any reasonable chance that such Tokia Client cures the breach.
4.2.4 a Tokia Client has breached any rules or regulations of a payments service provider.
4.2.5 a Tokia Client has opened more than one account with Tokia.
4.2.6 a Tokia Client breaches the single payment service provider account rule (point 8.9) and uses together with another Tokia Client the same payment service provider account (e.g. bank account, Neteller account, etc) or use a third-party bank account, third-party credit cards etc.
4.2.7 a Tokia Client uses an account without legal entitlement to use such account.
4.2.8 a Tokia Client conceals his/hers/its identity by providing incorrect data regarding his/hers/its Tokia Client Account or his/hers/its account with a payment service provider.
4.2.9 a Tokia Client materially breaches the payment rules, in particular but not limited to point 8.11, as set forth under the GTC causing significant efforts without curing the problems within 10 Business Days.
4.2.10 a Tokia Client materially breaches the rules of the Tell-a-friend-program (set forth under point 13.5) and does not cure the breaches within a reasonable grace period (depending on the breach between 24 hours and 5 business days).
4.2.11 a Tokia Client manipulates the Tokia platform and/or Tokia services. Such manipulation is in particular any use of an automated system (e.g. bot) or any other use which contradicts normal and typical trading behaviour of human beings and, hence, indicates the involvement of a certain technology, software and/or any system automating such trading, except such use has been previously agreed with Tokia.
4.3 If Tokia is engaged by a Tokia Client to remedy a declared and/or alleged deficiency and it is proven that no deficiency exists, existed or that the deficiency is or was in the sphere of the the Tokia Client, Tokia is entitled to charge compensation for any resulting expense.
4.4 Tokia may charge – in addition to any damage claims which Tokia might have against such Tokia Client – for Tokia’s additional efforts in connection with points 4.2. and 4.3 a processing fee of up to EUR 50.00 or any part of E-Token having the value of up to EUR 50.00 at the time of the measure set in accordance with points 4.2 and 4.3.
4.5 Tokia uses its own token system (F-Token and E-Token) which are booked in the respective storing sub-accounts (each a “Wallet”) of the respective Tokia Client Account. Only F-Token and E-Token booked in the respective Wallets in the Tokia Client Account may and can be used for making a Tokia Client Offer with respect to offering Tokens. The Wallet for F-Token is named “Euro Wallet”.
4.6 F-Tokens, which are exclusively offered by Tokia, are designated
4.6.1 for support and facilitation reasons as an extra service towards Tokia Clients, in particular to enable the Tokia Client to act faster with respect to Tokia Client Offers.
4.6.2 for the exclusive use of such F-Token on the Tokia platform and within the Tokia systems to exchange for E-Tokens. An exchange of F-Token outside of the Tokia system is impossible. An exchange of F-Token to another Tokia Client is impossible.
4.7 F-Token are designated to provide for quick options to act as Tokia Client as “support tools” for the Tokia Clients and shall in no event be seen as a deposit ((Einlage) of any kind. Therefore, if a Tokia Client does not use an F-Token in exchange for E- Token within a period of 12 months after such F-Token has been booked on the Tokia Client’s Wallet (“Reference Period”), Tokia shall deduct F-Token and or parts of F-Token having the monetary value of EUR 5.00 (based on the figures used by Tokia in the Tokia system) from the Tokia Clients Account per calendar month as long as the Tokia Client does not make valid use of the respective F-Token. Every time the Tokia Client uses the respective F-Token the Reference Period restarts from zero.
4.8 Air Drops
4.8.1 For any airdrop of Tokia itself (“Tokia Airdrop”) Tokia automatically books the respective Token or any other digital information unit distributed in such Tokia Airdrop to the respective Tokia Client Account.
4.8.2 For any airdrop of other persons than Tokia, Tokia does not automatically credit any Token or any other digital information unit to the respective Tokia Client Account. Each Tokia Client has to monitor any airdrop possibilities himself/herself/itself and if a Tokia Client wants to participate in/make use of such airdrop he/she/it must withdraw the respective Token from the Tokia system and book it into the respective system/wallet which the Tokia Client thinks fit to participate in such airdrop. Tokia does not advice on such other airdrops or on ways to participate in such airdrops and the Tokia Client moves the Token at the Tokia Client’s own risk out of the Tokia system. Tokia does not and will not inform Tokia Clients on airdrops other than Tokia Airdrops.
5 Tokia fork policies
5.1 Tokia applies the fork policy as attached hereto (“Tokia Fork Policy”) and each Tokia Client accepts the Tokia Fork Policy as part of the GTC.
6 Prices, payment conditions, exchange, and transfer conditions
6.1 Prices and/or exchange rates published on the webpage of the Final Offer Click are final and binding for the Tokia Client Offer (each a “(Final Rate”). Tokia guarantees such respective Final Rate for 15 minutes after the Final Offer Click.
6.2 Final Rates contain the following parts, which are shown on the webpage of the Final Offer Click:
6.2.1 in case the Tokia Client wants to purchase F-Token:
(i) offered amount in EUR
(ii) F-Token received if offer is accepted by Tokia
(iii) bonus in F-Token (volume of the bonus depending on which payment method the
Tokia Client has chosen) booked directly on the Euro Wallet if an offer is accepted by Tokia;
(iv) Final Rate is the sum of points i-iii above
6.2.2 in case the Tokia Client wants to purchase E-Token: (i) offered amount in EU
(ii) E-Token received if an offer is accepted by Tokia
(iii) bonus in the respective E-Token (volume of the bonus depending on which payment method the Tokia Client has chosen) booked directly on the E- Token Wallet if an offer is accepted by Tokia;
(iv) Final Rate, is the sum of points i-iii above
6.2.3 in case the Tokia Client wants to exchange F-Token for E-Token:
(i) offered F-Tokens or parts of F-Tokens
(ii) E-Token received if an offer is accepted by Tokia
(iii) Final Rate, is the sum of points i-ii above
6.2.4 in case the Tokia Client wants to exchange E-Token for F-Token:
(i) offered E-Tokens or parts of E-Tokens
(ii) F-Token received if offer is accepted by Tokia
(iii) Final Rate, being the sum of points i-ii above
6.2.5 in case the Tokia Client wants to exchange E-Token for another different E-Token:
(i) offered E-Tokens or parts of E-Tokens
(ii) other different E-Token received if offer is accepted by Tokia
(iii) Final Rate, being the sum of points i-ii above
6.3 Each Tokia Client Offer must at least have a monetary value (based on the figures used by Tokia), stated by the respective Final Rate of EUR 30.00.
6.4 Payments in a currency which is legal tender to and from Tokia from and to Tokia Clients are transferred by the respective payment service provider and not by Tokia itself.
6.5 Transfers of Token are conducted by Tokia within the Tokia system.
6.6 Final Rates and/or any other payments or services have to be paid and/or transferred by the Tokia Client immediately after the Final Offer Click.
6.7 Until the purchase price, including all fees and expenses, and/or any other outstanding amounts and/or claims have been fully paid, or any Tokens in exchange have been fully transferred to Tokia, any Token or proceeds thereof, remain the property of Tokia (Reservation of Title; (Eigentumsvorbehalt) and Tokia has a right of retention (Zurückbehaltungsrecht) regarding the Tokens of the respective Tokia Client. This reservation remains in force regardless of any form of processing or blending of goods, which may take place in any location worldwide.
6.8 A TokiaClient is in delay with his/her/its payment/transfer if the respective payment/transfer is not booked on Tokia’s accounts (including wallets and storages of Tokia) at the time when the respective CCOFA (as set forth under points 3.2.2) has been completed by Tokia. Tokia cannot be in delay because Tokia either accepts an offer by completing the respective CCOFA or denies an offer in all other cases of not completing the respective CCOFA.
6.9 Tokia allows within the single account rule (point 4.1) also only a single match between a Tokia Client Account and a payment service provider account (e.g. bank account, Neteller account, etc). Respectively any account with a payment service provider may be used only by one single Tokia Client. The name of the payment service user must match the name of the Tokia Client attached to the respective Tokia Client Account.
6.10 Tokia Clients have to fully comply with the data disclosure requirements in the payment processes, in particular when paying via SEPA. If the Tokia Client does not comply with the data disclosure requirements Tokia cannot match the respective payment with the respective Tokia Client Account with the consequence that Tokia has to start a manual tracking process, for which Tokia shall charge the Tokia Client a processing fee in additional to any damage claims (if any) according to point 4.3 above.
6.11 Tokia reserves the right in all cases where a failure occurs with respect to payments from Tokia to Tokia Client, which is in the sphere of the Tokia Client (e.g. incorrect IBAN provided by Tokia Client or technical failure of the Tokia Client’s payment service provider, etc) to transfer instead (parts of) available F-Tokens having the same value in a currency which is legal tender at the time when the failure has occurred. The received F-Tokens completely replace the payment without any further claim of the Tokia Client.
6.12 Tokia reserves the right to change, amend and/or disallow accepted payment methods at its own discretion.
6.13 In the case of transferring E-Token from and to Tokia’s system in/into/over/on the blockchain, meaning out of the Tokia system or into the Tokia system,
6.13.1 transaction fees or miner-fees may occur, which must be settled directly by the Tokia Client.
6.13.2 the transaction-ID, as generated by the network, serves as irrefutable proof of the completed transfer of E-Token from Tokia to Tokia Client’s last disclosed wallet- address. Such transaction-ID will be communicated also to the Tokia Client’s last disclosed email address as part of a delivery confirmation email.
6.13.3 the transaction is completed and cannot be reversed once the transaction appears on the blockchain network / network outside of the Tokia system. Each Tokia Client is aware and accepts that from this point onwards Tokia has no influence anymore on the transaction and whether or not the Tokia Client has access to such transferred E- Token vie the Tokia Client’s last disclosed wallet-address. Each Tokia Client is aware and accepts that the transfer can only be accepted by a confirmation on the blockchain network/network and that Tokia assumes no liability whatsoever, that such confirmation is given. The Tokia Client assumes full responsibility for the receipt of the adequate transaction confirmation by the blockchain network/network.
6.13.4 upon the transfer of the E-Token out of the Tokia system the assumption of risk, especially the risk of deterioration and loss, passes to the Tokia Client.
6.14 Each Tokia Client is solely responsible for the accuracy of his/her/its own wallet-addresses outside of the Tokia system and for ensuring that it is correct and kept up to date. This applies in particular to a transfer from a certain E-Token to a wallet-address which is meant for another E-Token (e.g. Bitcoin to Litecoin). Once the E-Token are transferred to the Tokia Client’s last disclosed wallet address, the E-Token cannot be transferred back or sent to another wallet-address. Tokia assumes no liability whatsoever for any failures with respect to wallet addresses outside of the Tokia system.
6.15 Each Tokia Client is solely responsible for the accuracy of his/her/its own wallet-addresses inside of the Tokia system and for ensuring that it is correct and kept up to date. This applies in particular to a transfer from a certain E-Token to a wallet address which is meant for another E-Token (e.g. Bitcoin to Litecoin). Once the E-Token are transferred to the Tokia Client’s wrong E-Token Wallet, the E-Token cannot be transferred back or sent to another E-Token Wallet. Tokia assumes no liability whatsoever for any failures of a Tokia Client with respect to wallet addresses inside of the Tokia system
6.16 Each Tokia Client is obliged to ensure, that in the case of E-Token refunds which are made by third parties onto the hot wallet of Tokia that these transactions can be assigned faultlessly to the respective Tokia Client. Such a case may occur, when a Tokia Client transfers E-Token from Tokia’s hot wallet to a third party and the recipient sends the appropriate refunds to the Tokia Client’s hot wallet.
7. Right of withdrawal
7.1 Each Tokia Client must explicitly give up its/his/her 14-day right of withdrawal, from which consumers benefit according to section 11 of the ”Fern- und Auswartsgeschäfte-Gesetz” (the ”FAGG”), in order to allow Tokia in accordance with section 18 para 1 no 11 FAGG to transfer E-Token or any other cryptographic blockchain-based digital information units (as digital content not stored on a physical data carrier) before the right of withdrawal expires. Tokia transmits a confirmation of the closed contract to the respective Tokia Client according to section 5 para 2 of the FAGG immediately after the CCOFA.
8. Data protection
8.1 In the course of delivering the negotiated services, Tokia is compliant with the GDPR as set forth in the Data Protection Terms.
9.1 Each Tokia Client understands and accepts the following risks in connection using the Tokia system. In particular, but without being limited to these examples, each Tokia Client understands the inherent risks set forth above and hereinafter:
(i) Risk of software weaknesses: The underlying software application and software platform, the Tokia platform and system technology, the smart contract systems, and other involved software and technology and technical concepts and theories are still in an early development stage and unproven. There is no guarantee/warranty that the process for receipt, use, and ownership of any cryptographic blockchain-based digital information units will be uninterrupted or error-free and there is an inherent risk that the software and related technologies and theories could contain weaknesses, vulnerabilities or bugs causing, inter alia, the complete loss of any cryptographic blockchain-based digital information units, in particular but not limited to Token, Euros or any value of any cryptographic blockchain-based digital information units.
(ii) Regulatory risk: Blockchain technologies allow new forms of interaction. It is possible that certain jurisdictions will apply existing regulations, or introduce new regulations addressing, on blockchain technology-based applications, which may have negative influence on the current setup of the systems and which may, inter alia, result in substantial modifications of the any cryptographic blockchain-based digital information units/ Tokia system technology, including its termination or the loss of any cryptographic blockchain-based digital information units or any value which any cryptographic blockchain-based digital information units might have. Tokia system technology is planned for a market, which is not regulated by financial markets rules, as its exchange of E-Token is set up as the exchange of collectible items (Sammlerstücke). It is the design and intended structure not to fall under any financial market rules and Tokia intends to design, modify and/or adapt the Tokia system technology in such way that financial market rules are not applicable on any cryptographic blockchain-based digital information units and / or Tokia system technology. Respectively within the regulatory risk category also changes in the Tokia system technology with respect to such adaptions, amendments and re-designs may cause termination or the loss of any cryptographic blockchain-based digital information units or any value which any cryptographic blockchain-based digital information units might have.
(iii) Risk of abandonment / lack of success: The allocation of any cryptographic blockchain-based digital information units and the development of the any cryptographic blockchain-based digital information units technologies might be abandoned for a number of reasons, including lack of interest from industry, community and/or the public, lack of funding, lack of commercial success or prospects (e.g. caused by competing projects). Respectively even if Tokia system technology is partially or fully developed and launched, it could happen that any cryptographic blockchain-based digital information units do not receive any functionality.
(iv) Risk of theft and internet vulnerability: The underlying software application and software platform, the Tokia system technology, the smart contract system(s), other involved software, other technology components and/or platforms may be exposed to electronic or physical attacks that could result in theft or loss of cryptographic blockchain-based digital information units, or the theft or loss of private data, impacting the ability to develop, launch or use Tokia system technology. Each Tokia Client should be aware that SMS/ messages and email services are vulnerable to spoofing and phishing attacks and should use care in reviewing messages purporting to originate from Tokia. Each Tokia Client should always log into the Tokia Client Account through https://www.tokia.io to review any transactions or required actions if the Tokia Client has any uncertainty regarding the authenticity of any communication or notice. Each Tokia Client should note that phishing attacks often occur despite SMS or email or equivalent services, via search engines or ads in search engines, or other fraudulent links. Tokia does not take any responsibility for lost Tokens or any other funds due to spoofing, phishing or other equivalent attacks.
(v) Risk of blockchain mining attacks: As with other public blockchain-based systems the Tokia system technology may be susceptible to attacks including but not limited to double-spend attacks, majority mining power attacks, “selfish-mining” attacks, and race condition attacks or any other mining or non-mining related attacks. Any successful attacks present a risk to the Tokia system technology, expected proper execution and sequencing of cryptographic blockchain-based digital information units transactions, and expected proper execution and sequencing of software computations.
(vi) Risk of depreciation in value/extreme volatility: As cryptographic blockchain- based digital information units seem to be collectible items (Sammlerstücke) each Tokia Client assesses the value of such cryptographic blockchain- based digital information units differently. Respectively the value of cryptographic blockchain-based digital information units in whatever form might experience extreme volatility and/or the value of cryptographic blockchain- based digital information units might decline to zero. As additional cost with respect to regulatory or other risks might be triggered – and if such cost are added for the purpose of calculation to the value of cryptographic blockchain- based digital information units (whatever value a Tokia Client might give to the cryptographic blockchain-based digital information units) – cryptographic blockchain-based digital information units might also decline in their value to zero.
(vii) General risk: There is no guarantee/warranty whatsoever on cryptographic blockchain-based digital information units and/or the success of the Tokia system technology, expressed or implied, to the extent permitted by law, and that cryptographic blockchain-based digital information units is created and obtained at the sole risk of the Tokia Client on an “as is” and “under development” basis and without, to the extent permitted by law, any guarantees/warranties of any kind, including, but not limited to, warranties of title or implied warranties, merchantability or fitness for a particular purpose;
(viii) Market and community risk: Each Tokia Client is aware of the risks of soft and hard forks and splitting including the broad possible changes to Tokia system technology which might be imposed by the market/ community on Tokia / Tokia system technology.
(ix) Tax risk: The tax consequences of the allocation or purchase of cryptographic blockchain-based digital information units (in whatever form) as well as the exchange of cryptographic blockchain-based digital information units, the holding of cryptographic blockchain-based digital information units (in whatever form), the alienation of cryptographic blockchain-based digital information units (in whatever form) and/or any other action or transaction related to cryptographic blockchain-based digital information units may have tax implications at the level of a Tokia Client; Tokia Clients, therefore, should contact their own tax advisors on the tax consequences in connection with the cryptographic blockchain-based digital information units and the Tokia system technology; by making an Tokia Client Offer to Tokia, and/or by receiving, using or holding cryptographic blockchain-based digital information units, and to the extent permitted by law, the Tokia Client agrees not to hold any associated party (including Tokia, Tokia’s auditors, Tokia’s contractors, Tokia’s advisors, Tokia’s employees or Tokia’s founders) liable for any tax liability associated with or arising from making an Tokia Client Offer, the allocation, use or ownership of cryptographic blockchain-based digital information units or any other action or transaction related to cryptographic blockchain-based digital information units.
10.1 Investing in cryptographic blockchain-based digital information units is highly speculative with a risk of loss of the entire capital invested. Such investment is only suitable for users, who can bear a loss of the entire invested capital.
10.2 Investing in cryptographic blockchain-based digital information units means investing in something totally new and unpredictable. Such investment is only suitable for users, who want to take maximum risk.
10.3 Cryptographic blockchain-based digital information units are no currencies or means of payment and are neither accepted by states, central banks nor must a private person accept them in any way.
10.4 Any person, any Tokia Client uses the offered Tokia system at his/her/its own risk.
11.1 Tokia manages the Tokia system with due care. Nevertheless, a platform for the exchange of cryptographic blockchain-based digital information units combines various new fields of experimental technology and it is very likely that interruptions, failures and other problems occur. Tokia gives no guarantee with respect to finding solutions for any such problems as soon as possible. Tokia assumes no responsibility other than to try to find solutions and therefore assumes no liability whatsoever for any damage caused by interruptions of the Tokia system because any such interruptions are immanent in an experimental field of technology.
11.2 Each Tokia Client is aware that technology based systems like the Tokia system need maintenance work and development work and that for such work interruptions of the system (planned and unplanned) are necessary and system immanent.
11.3 Tokia shall
11.3.1 via business clients only liable for any direct and foreseeable damage in the case of intent or in cases physical damages of persons negligently caused by Tokia.
11.3.2 via consumers only liable for any direct and foreseeable damage in the case of intent, gross negligence or in cases of physical damages of persons negligently caused by Tokia.
11.3.3 shall in no case be liable for indirect damages, consequential damages, especially regarding damages to other software, lost profit, pure property damages of the Tokia Client or third party damage.
11.3.4 in particular not be liable for damages caused by interruptions of the Tokia system which are necessary for maintenance work or to avoid network disturbances and/or which are caused by inevitable occurrences which are outside Tokia’s control (e.g. energy network disturbances; regulatory authority interference or on-site visits; strikes, riots, environmental causes like earth quakes, storms,etc; wars or national or international conflicts with and without arms; international or national sanctions against certain products, services, persons, countries; legal limitations to cryptographic blockchain-based digital information units at any time or place worldwide; network interference, computer failures or criminal activities through third parties (for example hacking).
11.3.5 not be liable for and cannot guarantee that the security certificates displayed on https://www.tokia.io/ is completely secure.
11.3.6 not be liable for any loss of customer data (e.g. due to hacker attacks) which are beyond Tokia’s sphere. A Tokia Client shall be informed immediately about the loss of data.
11.3.7 assume no liability for (i) stored E-Token in any hot and/or cold wallet for a Tokia Client; (ii) information of the Tokia Client used for transactions into or out of the Tokia system, (iii) transactions into or out of the Tokia system, (iv) a Tokia Client or person using websites or services, not provided by Tokia such as third party wallet services or any other services of any third party and (iv) any user’s login data, Tokia Client login data, 2FAIC data, or other user data. In using websites or services, not provided by Tokia such as wallet services or any other services of any third parties, Tokia expressly disclaim any liability for the third-party services and are not responsible for the performance of the third-party services or supplier. Each Tokia Client uses these services completely at his/her/its own risk. Funds sent to such third parties cannot be reverted, as these parties are not willing to. Tokia can and will not check the reliability of these third parties. Tokia has no obligation to contact or solve the problem with any third party.
11.4 Tokia undertakes to care for the E-Token stored by the Tokia Client to the extent to which it is reasonably technically manageable in the Tokia system and endeavours to store the majority of these “cold” – meaning offline.
11.5 Tell-A-Friend Program
11.5.1 Tokia offers a refer-a-friend program for an undetermined period of time. A respective referral code for this program can be found in the Tokia Client’s Account. A Tokia Client may recommend a person to register as a Tokia Client (“Promoter”) and to use the Promoter’s referral code (“Promoter Referral Code”).
11.5.2 Promoter receives
(i) F-Token for every fully verified Tokia Account created by using the Promoter Referral Code (“Promotion Fee”). The referred Tokia Client has to complete the verification successfully and purchase E-tokens.
(ii) The referred Tokia Client receives F-Token (“Referral Fee”) once the verification was completed successfully and the refereed Tokia Client purchased E-tokens.
The Promotion Fee will be booked in form of F-Token onto the Tokia Client Account of the Promoter. The Referral Fee will be booked in form of F-Token onto the Tokia Client Account of the refereed Tokia Client.
The booking of the Promotion Fee and the Referral Fee can be time-displaced. The booking will always be done in EUR F-Token.
11.5.3 Within the context of this Tell-a-friend-program and for any other context, a Promoter may only use advertising materials provided by Tokia. Alterations to these materials or the use of materials created by the Promoter himself/herself/itself are strictly forbidden.
11.5.4 Spamming, cold calling or any other intrusive advertising measures are strictly forbidden.
11.5.5 Any act on behalf of Tokia is forbidden (e.g. sending messages on behalf or in the name of Tokia to persons; publishing postings or publishing any statement on behalf of Tokia, editing the logo(s), brands or other material of Tokia, promoting any discounts for the services of Tokia (except for discounts which are published by Tokia themselves).
11.5.6 Any Promoter must refrain from any PPC or SEM activity, including but not limited to Google Adwords, Bing Ads, in terms of (i) advertising on behalf of Tokia and leading users directly to the Tokia website, the Promoter’s website or any other third party website as a result of that paid advertising, as well as (ii) bidding on Tokia brand terms, including any forms of misspellings and typos, also (iii) using Tokia brand terms, including any misspellings or typos within the paid ads text, and (iv) directly competing against Tokia ads in order to show on the search results pages.
11.5.7 Any Promotion Fee is booked in the Tokia Client Account of the Promoter and must be redeemed within 180 days by using it in exchange for E-Token. If a Promotion Fee is not used validly within 180 days it becomes invalid.
11.5.8 Persons with residence/seat in Germany are excluded from the participation in the “tell-a-friend-program” due to regulatory reasons in Germany.
11.6 Tokia Clients may not transfer E-Token out of the Tokia system in an ICO (Initial Coin Offering), or a comparable offer where digital currency or assets are returned, to the respective Smart Contract unless specifically authorised by Tokia. Should a Tokia Client, in spite of the sentence above, do so anyway, the returned digital currency or assets will be credited to Tokia (see item 8.17 which applies). The user accepts to meet these regulations and agrees to help the support with the return of the digital currency or assets. Thus, Tokia is entitled to a reimbursement of costs.
11.7 Tokia has the right to disclose any data to any competent authority if the data is requested to be disclosed by such authority in order to track or investigate any relevant cases. Tokia reserves the right to cooperate with such authorities to the maximum extent possible.
11.8 A Tokia Client accepts and confirms with each transaction hereunder that it/he/she accepts and confirms these GTC in the current form.
11.9 If one or more of the provisions of these GTC or one or more of the schedules hereto are or will become invalid or unenforceable, or if one or more of the provisions of these GTC or one or more of the schedules hereto are or will become incomplete, the other provisions of these GTC and the schedules hereto will remain valid without limitation, save that the main obligations of the parties hereunder remain unaffected. Such provision – having been found illegal or unenforceable in whole or in part, shall be ineffective solely to the extent of such determination of invalidity or unenforceability only only with respect to the jurisdiction in which it has been found illegal or unenforceable, without having any effect on any other jurisdiction. Each invalid or unenforceable provision shall be replaced or completed by a valid and enforceable provision in such a way that the new provision closely reflects the legal and economic effects the parties have concurrently aimed at in the invalid or unenforceable provision.
11.10 Changes to and amendments of these GTC, including this clause, may be made by Tokia at any time and become effective at the earlier of (i) the Tokia Client accepts online the amended GTC or (ii) within 1 month after having published such changes or amendments on the homepage of Tokia: https://www.tokia.io/. and supersede any prior statements or agreements. Any terms and conditions (AGB) of Tokia Clients are excluded from being applicable on the relationship between Tokia Client and Tokia.
The GTC exclusively govern to the relationship between Tokia Client and Tokia and supersede any prior statements or agreements. Any terms and conditions (AGB) of Tokia Clients are excluded from being applicable on the relationship between Tokia Client and Tokia.
11.12 The failure of Tokia to enforce or to exercise, at any time or for any period of time any term of or any right or remedy arising pursuant to or under the GTC shall not constitute, and shall not be construed as, a waiver of such term or right or remedy and shall in no way affect that Tokia’s right to enforce or exercise it later, provided that such right is not time barred, expired or precluded. Any waiver to this effect must be explicitly in writing.
11.13 Tokia and Tokia Client agree on English language with respect to their communication.
11.14 The GTC and any transaction hereunder shall be governed by and construed in accordance with the laws of the United Kingdom to the exclusion of the provisions of the United Nations Convention on the International Sale of Goods and without giving effect to any statutory conflict of law pro-visions or rules that would cause the application of the law of any jurisdiction other than England.
13.15 Any and all disputes or divergences or claims shall be exclusively dealt with the court having pertinent competence for London.
Tokia Fork Policy
14. A fork is a situation in which a blockchain splits into two separate chains temporarily or permanently (‘‘Fork”). Forks are a natural occurrence during mining, where two chains following the same consensus rules temporarily have the same accumulated proof-of- work and are both considered valid. They can also occur as a consequence of the use of two distinct sets of rules trying to govern the same blockchain. Forks have been used in cryptocurrencies in order to add new features to a blockchain or to reverse the effects of hacking or catastrophic bugs on a blockchain as was the case with the fork between Ethereum and Ethereum Classic. Notably, Forks have been widely discussed in the context of the bitcoin scalability problem.
15. Tokia does not automatically support Forks of any cryptographic blockchain-based digital information units.
16. Tokia assess each case, and each Fork on a case by case basis and Tokia may at Tokia’s sole discretion decide whether to support a Fork or not and whether to communicate that to its Tokia Clients or not.
17. If Tokia decides not to support a Fork but a Tokia Client wants to participate in a Fork, such Tokia Client would have to move the respective E-Token onto such third party wallet which the Tokia Client thinks fit for supporting such Fork. Tokia herewith advices such Tokia Clients to take enough time into consideration to move the respective E-Token, because Tokia cannot and will not give any guarantees to any transfers out of/ outside of the Tokia system. Tokia does not advice on how much time is enough, but suggests that Tokia Clients carefully consider all relevant facts.
18. Each Tokia Client must monitor the market himself/herself/itself to stay informed about Forks. Tokia has no duty to inform Tokia Clients on any Forks.
19. Tokia may decide in its sole discretion to suspend/ temporarily shut down any exchange, trading or any transaction with respect to E-Token which are part of a Fork or influenced by a Fork to a major extent. This applies to Forks which are supported by Tokia and also to Forks which are not supported by Tokia.
20. If Tokia decides – at Tokia’s sole discretion – to try to support a Fork, Tokia shall decide which chain is the original blockchain in the fork scenario. As a consequence Tokia shall inform its clients on such decision and will endeavour to integrate the new cryptographic blockchain-based digital information units resulting from the Fork into the Tokia system. However, Tokia’s give no guarantee that such integration takes place and shall inform at its sole discretion the Tokia Clients on when and how and at which distribution rate such new cryptographic blockchain-based digital information units resulting from the Fork can be used in the Tokia system. Respectively, Tokia holds any resulting new cryptographic blockchain-based digital information units balances for and on behalf of its Tokia Clients from the time of the split till the time of distribution to the Tokia Clients in cold storage (meaning offline). Each Tokia Client is aware and accepts that it is impossible to withdraw/or transfer any such new cryptographic blockchain-based digital information units balances out of a supported Fork until Tokia decides at Tokia’s sole discretion to go live with such new cryptographic blockchain-based digital information units in the Tokia system. Each TokiaClient is aware and accepts that there might be situations where Tokia may decide in a commercially reasonable way not to integrate such new cryptographic blockchain-based digital information units in the Tokia system and that in such case such Tokia Client has no right to claim damages or compensation of any kind from Tokia. Each Tokia Client is aware that Tokia will always only try to integrate new cryptographic blockchain-based digital information units but in no case gives any guarantee that such integration can be done or is fixed for a certain point in time.