Terms of Service
Issued on November 17, 2018.
This qPocket Terms of Service (“Terms”) is made between you (“you” or “User”) and QUARKONIUM PTE. LTD. (Unique Entity Number: 201811581M), a company incorporated in Singapore and having its registered address at 9 Temasek Boulevard #04-02 Suntec Tower Two Singapore 038989 (“Company” or “we”) and is legally binding between you and Company.
Company hereby reminds you that you must carefully read the full content of these Terms and other documents mentioned in this Terms before using our mobile application “qPocket” (“qPocket”). In particular, you must carefully read the sections which are displayed in bold or capitalized in these Terms. You must make sure that you fully understand the whole Terms and evaluate the risks of using qPocket on your own.
1. You understand that these Terms and other relevant documents apply to qPocket and the Decentralized Applications (“DApps”) which are developed and owned independently by Company on qPocket (and excluding DApps developed by third parties).
2. After you download qPocket and start to register for an account with us, create or import wallet, or access or use the services provided by qPocket, you are deemed as having read and accepted these Terms, which shall cause these Terms to become effective and legally binding on both you and Company immediately. IF YOU DO NOT AGREE TO THE TERMS IN THESE TERMS, YOU SHALL CEASE USAGE OF qPocket IMMEDIATELY AND IF YOU HAVE DOWNLOADED qPocket, PROCEED TO DELETE QPOCKET IMMEDIATELY.
3. In accessing or using qPocket, you agree:
a. to be bound by the latest version of these Terms without variation or modification; and
b. that in the jurisdiction to which you are subject, you are of legal age to use qPocket or the legal age under the laws of the Republic of Singapore (which higher) and to create binding legal and financial obligations for any liability you may incur as a result of the use of qPocket.
4. Company may, at its sole discretion, modify or replace these Terms at any time. The modified Terms will automatically take effect once it is posted on qPocket and you will not be notified separately. It’s your own responsibility to check any modification of these Terms from time to time. Use of qPocket by you after any modification to these Terms constitutes your acceptance of these Terms as modified. If you do not agree with the modifications, you shall cease to use qPocket immediately.
5. Capitalized terms in these Terms shall have the following meanings:
5.1 qPocket: means this blockchain wallet developed by Company based on blockchain systems and other supporting tools.
5.2 Create or Import Wallet: means your use of qPocket to create or import wallet after your acceptance of these Terms.
5.3 Wallet Password: means the password when you create the wallet. The Wallet Password will be used to encrypt and protect your Private Key.
5.4 Specific Users: means Users who should cooperate with Company and disclose Personal Information in order to comply with the laws, regulations and policies of Singapore and other countries/regions.
5.5 Private Key: consists of 256 random bits. Private Key is the core for the User to hold and use the Tokens.
5.6 Public Key: is derived from the Private Key based on cryptography and is used to generate wallet addresses. A wallet address is a public address for receipt of Tokens.
5.7 Mnemonic Words: consists of 12 (or 15/18/21/24) words which are randomly generated, and it is based on BIP39, the industry standard of blockchain. It is a human readable format of words to back up your Private Key for recovery.
5.8 Keystore: means Private Key or Mnemonic Words in the format of a file which is encrypted and protected by the User’s Wallet Password. Keystore is stored only in your mobile device and will not be synchronized to the Company’ servers.
5.9 Tokens: means the tokens which are supported by qPocket currently, including but not limited to ETH and so on. qPocket may not support all existing tokens. Do not use qPocket to handle any non-supported tokens.
5.10 Personal Information: means information recorded in electronic or any other form which may identify a natural person when used alone or in combination with other information, including but not limited to name, date of birth, identification card number, personal biological identification information, address, telephone number, bank card number, e-mail address, wallet address, mobile device information, operation record, transaction record, but excluding Wallet Password, Private Key, Mnemonic Words and Keystore.
6. Company may provide the following services through qPocket (“Services”):
6.1 Create or import wallet. You may use qPocket to create a new wallet or import wallets generated by other wallet application. You may only import wallets with Tokens which are supported by qPocket.
6.2 Transfer and receive Tokens. You may manage your digital Tokens by using qPocket, i.e., you may revise the blockchain ledger by signing with your Private Key. The actual delivery or transfer of Tokens happens on the relevant blockchain system (rather than on qPocket). You may be subject to daily limits on the amount and times of transfers according to your location, regulatory requirements, transferring purposes, risk control by qPocket, or identification verification. Blockchain operations are “irrevocable”. When you use qPocket to transfer Tokens, you shall be solely responsible for the consequences of your mishandling of the transfer (including but not limited to wrong address, problems of the node servers selected by you).
6.3 Manage Tokens. You may use qPocket to add, manage or delete Tokens supported by qPocket.
6.4 Transaction records. We will copy all or part of your transaction records from the blockchain system. However, Users shall refer to the blockchain system for the latest transaction records.
6.5 ICO Platform. To the extent permitted by the applicable law, a third party may initially issue a new cryptocurrency token (“ICO”) on ETH or Quarkchain as a fundraiser and you could subscribe such cryptocurrency token as an investor. Please note that, certain countries or regions may not allow ICO, therefore, if you are subject to the jurisdiction of such countries or regions, you cannot and are forbidden to use this ICO Platform service.
6.6 Browse and use DApps. You may use qPocket to visit and use the services provided by DApps (including DApps developed by Company and DApps developed by third parties).
6.7 Tokens Exchange. You may achieve digital Tokens exchange through qPocket. qPocket does not participate in the transaction of digital Tokens as a buyer or a seller, or provide any services relating to the replenishment and withdrawal of the fiat currency of any country.
6.8 Observe the quotation and marketing information. You may use qPocket to observe the quotation of the Tokens and other marketing information.
6.9 Payment with Tokens. You may purchase assets online or offline with Tokens through qPocket.
6.10 Benefit market. You may acquire various benefits of living, entertainment or otherwise, or engage in relevant activities with Tokens through qPocket.
6.11 Red packet with Tokens. You may use qPocket to create and send red packet(s) with Tokens directionally after creating or importing wallet.
6.12 Advertisement targeting. You may use qPocket to display your goods or services at the place determined by Company with compensation.
6.13 Other services that Company would like to provide.
7. In order to avoid (to the extent possible) any mishandling of qPocket or any risk to the security of your Tokens, you shall not use qPocket if you do not possess the basic knowledge of blockchain. For Users who do not possess basic knowledge of blockchain, Company may refuse to provide all or part of the Services on qPocket to such Users.
8. Change, suspension, restriction or termination of Services.
8.1 You acknowledge and accept that Company may, at its sole discretion, provide only a part of the Services for the time being, suspend certain Services or provide new Services in the future. When we change our Services, your continuous use of qPocket is deemed as your acceptance of these Terms and revisions of these Terms.
8.2 You understand that Company may suspend the Services under the following circumstances (or may completely terminate the Services in connection with any of the following circumstances):
a) maintenance, upgrading, failure of equipment and blockchain system and the interruption of communications etc., which lead to the suspension of the operation of qPocket;
b) force majeure events including but not limited to typhoon, earthquake, tsunami, flood, power outage, war, or terrorist attacks, or computer viruses, trojan horse, hacker attacks, system instability or government behaviors and other reasons, which result in the Company’s inability to provide Services or if in Company’s reasonable opinion, continuous provision of Services would result in significant risks;
c) material adverse change of applicable laws or policies; or
d) any other event(s) which Company cannot control or reasonably predict.
8.3 Company reserves the right to unilaterally suspend or terminate all or part of the Services or any function of qPocket under the following circumstances:
a) death of Users;
b) if you steal others’ wallets information or mobile devices;
c) if you provide false Personal Information on qPocket;
d) if you refuse to allow mandatory update of qPocket;
e) if you use qPocket to commit illegal or criminal activities;
f) if you hinder the normal use of qPocket by other Users;
g) if you pretend to be staff or management personnel of Company;
h) if you threaten the normal operation of Company computer system by attack, invasion, alternation or any other means;
i) if you use qPocket to send spam;
j) if you spread rumours which endanger the goodwill of Company and qPocket; or
k) if you conduct any illegal activities, breach these Terms etc. or other circumstances under which Company reasonably considers necessary to suspend Services.
8.4 You are entitled to export your wallets within a reasonable amount of time if Company changes, suspends or terminates its Services.
9. Company may issue specific rules, announcements or alerts with respect to the specific content and mode of the Services from time to time. You shall comply with these provisions while using relevant Services.
10. Users who use the Services fully acknowledge and accept that, you shall bear sole responsibility to take care of your mobile devices, Wallet Password, Private Key, Mnemonic Words, Keystore and other information. Company does not store or hold the above information for Users. You shall be solely responsible for any risks, liabilities, losses and expenses which result from frauds, you losing your mobile device, disclosing (whether actively or passively) or forgetting Wallet Password, Private Key, Mnemonic Words or Keystore, or your wallet being attacked.
11. Users who use the Services fully acknowledge and accept that, in order to keep the decentralization feature of blockchain and to protect the security of your digital Tokens, Company offers decentralized service which is largely different from the banking and financial institutions. Users acknowledge and accept that the Company SHALL NOT have any responsibility to:
a) store Users’ Wallet Password (the password Users set when creating or importing wallets), Private Key, Mnemonic Words or Keystore;
b) recover Users’ Wallet Password, Private Key, Mnemonic Words or Keystore;
c) freeze the wallet;
d) report the loss of wallet;
e) recover the wallet; or
f) rollback transactions.
III. Your Rights and Obligations
12. Use of Services. You are entitled to use the Services subject to the terms and conditions set forth in these Terms, including any amendment, update or replacement thereof. .
13. Identification verification. Specific Users will be asked to complete identification verification before using qPocket to comply with related laws and regulations, according to the notification of qPocket. Specific Users may be asked to provide Personal Information including but not limited to name, identification card number, cell phone number, bank card information, etc., without which the Specific Users will not be able to use certain services and the Specific Users alone shall be responsible for the loss caused by their delay in completing the verification. If Company reasonably deems your operation or transactions to be abnormal, or considers your identification to be doubtful, or Company considers it necessary to verify your identification documents or other necessary documents, you shall cooperate with Company and complete the identification verification in time.
14. Material. You undertake to notify Company of any change in the documents and information provided by you to Company pursuant to these Terms or the Company’s instructions and warrant that the documents and information provided by you remain true, correct, and not misleading.
15.1 You understand that you shall abide by applicable laws, regulations and policies when you use qPocket. You shall not use qPocket to commit illegal or criminal activities, for any unlawful purposes or by any unlawful means.
15.2 You shall not use qPocket to commit any illegal or unlawful activities, including but not limited to:
a) activities endangering national security of the country or area you reside in, disclosing state secrets, overturning the government or undermining national unity;
b) any illegal conducts, such as money laundering, illegal fund raising etc.;
c) accessing Company services, collecting or processing the content provided by Company, intervening or attempting to intervene any Users, by the employment of any automated programs, software, network engines, web crawlers, web analytics tools, data mining tools or similar tools etc.;
d) providing gambling information or inducing others to engage in gambling;
e) invading into others’ qPocket wallets to steal Tokens;
f) engaging in any inaccurate or false transactions with the counterparty;
g) committing any activities which harms or attempts to harm qPocket service system and data;
h) other activities which Company has reason to believe are inappropriate.
15.3 You understand and accept that you shall be responsible for any violation of law or for breach of these Terms by you and shall indemnify Company in full against the losses, the third-party claims or administrative penalties against Company incurred by such violation or breach.
15.4 You understand and agree to comply with the alert(s) published by the Company on qPocket. You shall be responsible for any risks, liabilities, losses and expenses which result from your failure to comply with any alert(s).
16. Notifications. qPocket may send notifications to you by announcements, e-mails, text messages, phone calls, popup tips or client-end notices (e.g., information about your transfer or suggestions on certain operations) which you shall be aware of timely.
17. Service fees and taxes.
17.1 When you use qPocket, the Company may charge you certain service fees or handling fees. Please refer to the agreement with you separately or the announced rules regarding service fees. You confirm that you will pay the service fees charged by Company in time (if applicable). Company reserves the right to suspend the services when the you fail to pay service fees.
17.2 You need to pay “gas” or network fees when you transfer Tokens, the amount of which would be collected by the relevant blockchain network. You understand that your transfer of Tokens may fail under certain circumstances, including but not limited to insufficient “gas” or network fees paid by you for the transfer of Tokens during the time of your transfer, or the relevant blockchain network being unstable, and in such event, you may still be charged gas by the relevant blockchain network, notwithstanding the failed transfer attempted.
17.3 You shall bear all the applicable taxes and other expenses occurred due to your transactions on qPocket.
18. Versions. Company may develop different versions of qPocket for different terminal devices. You shall download and install applicable version. You understand and accept that, if you download and install qPocket or other application with the same name as “qPocket” from any unauthorized third party, Company cannot guarantee the normal operation or security of such application and any loss caused by the failure of the normal operation or security of such application shall be borne solely by you. A previous version of qPocket may stop to operate after a new version is released. Company cannot guarantee the security, continuous operation or customer services for the previous version. Users shall download and use the latest version.
19. You understand and acknowledge that the blockchain technology is a field of innovation where the laws and regulations are not fully established. You may be faced with material risks including instability of technology or failure for fiat-token exchange. You also understand that Tokens have much higher volatility comparing to other financial assets. You shall hold or dispose of the Tokens in a reasonable way and corresponding to your financial status and risk preferences. You also acknowledge that the market information is captured from exchanges by qPocket and may not represent the latest or the best quotation of each Token.
20. If you or your counterparty fails to comply with these Terms or fails to follow the instructions, tips or rules, the Company does not guarantee successful transfer of the Tokens and the Company shall not be held liable for any of the consequences of such failure. If you or your counterparty has already received the payment in qPocket or third-party wallet, you understand that transactions on blockchain are irreversible and irrevocable. You and your counterparty shall assume the liabilities and consequences of your transactions.
22. When you transfer your Tokens directly to another wallet address, it is your sole responsibility to make sure that your counterparty is a person with corresponding capacity for civil acts and decide whether you shall transact with him/her.
23. You shall check the official blockchain system or other blockchain tools when you receive an alert such as “transaction failed” or “mining overtime” in order to avoid repetitive transfer. If you fail to follow this instruction, you shall bear the losses and expenses occurred due to such repetitive transfer.
24. If you lose your mobile device before you could write down or backup your Wallet Password, Private Key, Mnemonic Words or Keystore, you may lose your Tokens and Company will not be able to recover them. If your Wallet Password, Private Key, Mnemonic Words or Keystore is disclosed or the device which stores or holds your Wallet Password, Private Key, Mnemonic Words or Keystore is hacked or attacked, you may lose your Tokens and Company will not be able to recover them. Any and all losses arising in connection with the foregoing shall be borne solely by you.
25. We suggest you backup your Wallet Password, Private Key, Mnemonic Words and Keystore when you create or import wallet by writing them down on papers or backup them in password management apps. Please do not use electronic methods such as screenshots, e-mails, note-taking apps in cell phones, text messages, WeChat or QQ to backup any of the foregoing information.
26. In order to avoid potential security risks, we suggest you use qPocket in a secured network environment. Please do not use a jailbreak or rooted mobile device.
27. Please be alert to frauds when you use qPocket. If you find any suspicious activity, we encourage you to inform us immediately.
VI. Disclaimer and Limitation of Liability
29. You understand that qPocket is only a tool for transfer of Tokens. Company shall be deemed to have fulfilled its obligations once you have completed the transfer and shall not be held liable for any dispute in relation thereto. Company does not provide legal, tax or investment advice. You shall seek advice from professional legal, tax, and investment advisors. In addition, Company shall not be liable for any investment loss, data loss etc. during your use of our service.
30. IN NO EVENT WILL WE, OUR SUBSIDIARIES, AFFILIATES, OFFICERS, AGENTS, EMPLOYEES, REPRESENTATIVES, PARTNERS, SUPPLIERS, OR LICENSORS BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, PUNITIVE, OR CONSEQUENTIAL DAMAGES (INCLUDING, WITHOUT LIMITATION, DAMAGES FOR LOST PROFITS, REVENUE, GOODWILL, LOSS OF DIGITAL ASSETS, OR USER CONTENT) HOWEVER CAUSED, UNDER ANY THEORY OF LIABILITY, INCLUDING, WITHOUT LIMITATION, CONTRACT, TORT, WARRANTY, NEGLIGENCE OR OTHERWISE, EVEN IF ANY OF THE FOREGOING PARTIES HAVE BEEN ADVISED AS TO THE POSSIBILITY OF SUCH DAMAGES.
31. IN NO EVENT WILL THE AGGREGATE LIABILITY OF US, OUR SUBSIDIARIES, AFFILIATES, OFFICERS, AGENTS, EMPLOYEES, REPRESENTATIVES, PARTNERS, SUPPLIERS, AND LICENSORS LIABILITY ARISING FROM OR RELATING TO THESE TERMS OR THE SERVICE EXCEED THE GREATER OF: (A) $50, OR (B) THE AMOUNT PAID, IF ANY, BY YOU TO US FOR THE SERVICE IN THE TWELVE MONTHS BEFORE YOUR CLAIM AROSE. THE FOREGOING LIMITATION APPLIES UNDER ANY THEORY OF LIABILITY, INCLUDING, WITHOUT LIMITATION, CONTRACT, TORT, WARRANTY, NEGLIGENCE OR OTHERWISE.
32. THESE LIMITATIONS AND EXCLUSIONS ALSO APPLY IF THIS REMEDY DOES NOT FULLY COMPENSATE YOU FOR ANY LOSSES OR FAILS OF ITS ESSENTIAL PURPOSE.
33. Some jurisdictions do not allow the exclusion or limitation of incidental or consequential damages. To the extent that you reside in a jurisdiction where applicable law does not permit us to limit its liability to the extent set forth in Section VI, then such limitations may not apply to you.
34. YOU ACKNOWLEDGE AND ACCEPT THAT, TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, QPOCKET IS PROVIDED ON AN “AS IS”, “AS AVAILABLE” AND “WITH ALL FAULTS” BASIS. Company shall not be held liable for malfunction of qPocket which results from any of the following reasons:
a) system maintenance or upgrading of qPocket;
b) force majeure, such as typhoon, earthquake, flood, lightning or terrorist attack etc.;
c) malfunction of your mobile device hardware and software, and failure of telecommunication lines and power supply lines;
d) your improper, unauthorized or unrecognized use of the Services;
e) computer viruses, trojan horse, malicious program attacks, network congestion, system instability, system or equipment failure, telecommunication failure, power failure, banking issues, government acts etc.;
f) any other reasons not imputed to Company.
35. Company does not warrant that:
a) services provided by Company would satisfy all your needs;
b) all techniques, products, services, information or other materials from Company would meet your expectations;
c) all the transaction information in digital Tokens markets captured from the third party exchanges are prompt, accurate, complete, and reliable;
d) your counterparties on qPocket will perform their obligations in the transaction agreements with you timely.
36. You acknowledge that qPocket may provide Services to you and your counterparty simultaneously or may have affiliation or other interest relationship with foregoing parties, and you agree to waive any actual or potential conflicts of interests and will not claim against Company on such base or burden Company with more responsibilities or duty of care.
37. You understand that we may change our entry standards, limit the range and ways to provide services for specific Users at any time in accordance with applicable laws and regulations.
VII. Intellectual Property Rights
38. qPocket is an application developed and owned by Company. The intellectual property rights of any contents displayed in qPocket (including these Terms, announcements, articles, videos, audios, images, archives, information, materials, trademarks or logos) are owned by Company or the third-party licensors. Users can only use the qPocket applications and its contents for the purpose of holding and managing their Tokens. In particular, without prior written consent from the Company or the third-party licensors, no one shall use, modify, decompile, reproduce, publicly disseminate, alter, distribute, issue or publicly publish the abovementioned applications and contents. These Terms shall not entitle you to any intellectual property rights, including the rights in relation to the use, for any purpose, of any information, image, user interface, logos, trademarks, trade names, internet domain names or copyright in connection with us or the Services.
40. These Terms contains the entire agreement and the understanding between you and us and supersedes all prior agreements, understandings or arrangements (both oral and written) in relation to the use of qPocket and the services in connection thereto.
41. If any of part of these Terms is rendered void, illegal or unenforceable by any legislation to which it is subject, it shall be rendered void, illegal or unenforceable to that extent and no further and, for the avoidance of doubt, the rest of these Terms shall continue to be valid and in full force and effect.
42. The illegality, invalidity or unenforceability of any provision of these Terms under the law of any jurisdiction shall not affect its legality, validity or enforceability under the law of any other jurisdiction nor the legality, validity or enforceability of any other provision.
43. These Terms and its amendments shall be governed by, subject to, and interpreted in accordance with the laws of the Republic of Singapore, without regard to conflict of laws principles.
44. In the event of any dispute arising out of or in connection with these Terms, the parties shall firstly attempt to resolve such dispute through amicable negotiations in good faith. If the parties cannot reach an agreement, either party may submit such dispute to a competent court of the Republic of Singapore.
45. You shall fully understand and conform to the laws, regulations and rules in your jurisdictions which are relevant to use of the Services.
46. During your use of the Services, if you come across any problems, you can contact us through the submission of your feedbacks on qPocket.
47. These Terms is accessible for all Users on qPocket. We encourage you to read these Terms each time you log onto qPocket.
48. These Terms shall become effective upon its issuance.
49. As for any issues not covered in these Terms, you shall comply with the announcements and relevant rules as updated by Company from time to time.
QUARKONIUM PTE. LTD.