Terms and Conditions
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The following Terms and Conditions (“Terms”), effective October 22, 2022, govern your (“you” or the “Purchaser”) purchase of cryptographic tokens (“GXZ”) from Galactixzone.io, a private limited company registered in the USA, as Intergalactic Social Media, LLC.
Intergalactic Social Media, LLC, Chesterfield, Virginia (the “Company”). Each of you and the Company is a “Party” and, together, the “Parties” to these Terms. This document is not a solicitation for investment and does not pertain in any way to an offering of securities in any jurisdiction. This document describes the GXZ token sale.
If you don’t agree to these terms, do not purchase GXZ from the Company.
By purchasing GXZ from the company, you will be bound by these terms, and any terms incorporated by reference.
If you have any questions regarding these terms, please contact the Company at marketing@galactixzone.io.
By purchasing GXZ, and to the extent permitted by law, you are agreeing not to hold any of the Company and its respective past, present, and future employees, officers, directors, contractors, consultants, equity holders, suppliers, vendors, service providers, parent companies, subsidiaries, affiliates, agents, representatives, predecessors, successors and assigns (the “Galactix Zone Team”) liable for any losses or any special, incidental, or consequential damages arising from, or in any way connected, to the sale of GXZ, including losses associated with the terms set forth below.
Do not purchase GXZ tokens if you are not an expert in dealing with cryptographic tokens and blockchain-based software systems. Prior to purchasing GXZ, you should carefully consider the terms listed below and, to the extent necessary, consult an appropriate lawyer, accountant, or tax professional. If any of the following terms are unacceptable to you, you should not purchase GXZ.
Purchases of GXZ should be undertaken only by individuals, entities, or companies that have significant experience with, and understanding of, the usage and intricacies of cryptographic tokens, including Binance Smart Chain tokens, and blockchain-based software systems. Purchasers should have a functional understanding of storage and transmission mechanisms associated with other cryptographic tokens.
While the company will be available to assist purchasers of GXZ during the sale, the company will not be responsible in any way for loss of BNB (Binance Block Chain Coin), BUSD (Binance Stable Coin) or GXZ resulting from actions taken by, or omitted by purchasers. If you do not have such experience or expertise, then you should not purchase GXZ or participate in the sale of Galactix Zone. Your participation in Galactix Zone sale is deemed to be your undertaking that you satisfy the requirements mentioned in this paragraph.
Purchaser agrees to buy, and the company agrees to sell, the GXZ tokens in accordance with the following terms:
1) The Conditions of the GXZ Token Sale. You may not make acquire a GXZ token if you are a citizen, resident where cryptocurrencies are prohibited by law.
2) The Company Will Not Purchase GXZ Token During the Galactix Zone Sale. The Company warrants that neither it nor its shareholders will purchase GXZ during the Galactix Zone sale. Furthermore, the Company warrants that neither it nor its shareholders will purchase GXZ from any third party during the period of the GXZ sale.
3) All Purchases of GXZ Are Final. Purchases of GXZ are non-refundable. By purchasing GXZ, the purchaser acknowledges that neither the company nor any of its affiliates, directors, or shareholders are required to provide a refund for any reason.
4) Disclaimer of Warranties. The purchaser expressly agrees that the purchaser is purchasing GXZ at the purchaser’s sole risk and that GXZ is provided on an “as is” basis without warranties of any kind, either express or implied, including, but not limited to, warranties of title or implied warranties, merchantability or fitness for a particular purpose (except only to the extent prohibited under applicable law with any legally required warranty period to the shorter of thirty days from first use or the minimum period required).
Without limiting the foregoing, none of the Galactix Zone team warrants that the process for purchasing GXZ will be uninterrupted or error-free.
5) Risk of Uninsured Losses. Unlike bank accounts or accounts at some other financial institutions, Galactix Zone is 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 Company, to offer recourse to you.
6) Risk of Losing Access to Galactix Zone cold wallets Due to Loss of Private Key(s), Custodial Error or Purchaser Error. A private key, or a combination of private keys, is necessary to control and dispose of GXZ stored in your digital wallet or vault. Accordingly, loss of requisite private key(s) associated with your digital wallet or vault storing GXZ will result in loss of such GXZ.
Moreover, any third party that gains access to such private key(s), including by gaining access to login credentials of a hosted wallet service you use, may be able to misappropriate your GXZ.
Any errors or malfunctions caused by or otherwise related to the digital wallet or vault you choose to receive and store GXZ in, including your own failure to properly maintain or use such digital wallet or vault, may also result in the loss of your GXZ. Additionally, your failure to follow precisely the procedures set forth in for buying and receiving Tokens, including, for instance, if you provide the wrong address for the receiving GXZ, or provide an address that is not BEP20 compatible, may result in the loss of your Tokens.
7) Risks Associated with the Binance Smart Chain Protocol. Because GXZ and the Galactix Zone platform are based on the Binance Smart Chain protocol, any malfunction, breakdown, or abandonment of the Binance Smart Chain protocol may have a material adverse effect on the platform or GXZ. Moreover, advances in cryptography, or technical advances such as the development of quantum computing, could present risks to the GXZ and the platform, including the utility of the GXZ for obtaining services, by rendering ineffective the cryptographic consensus mechanism that underpins the Binance Smart Chain protocol.
8) Risk of Mining Attacks. As with other decentralized cryptographic tokens based on the Binance Smart Chain protocol, GXZ is susceptible to attacks by miners in the course of validating GXZ transactions on the Binance Smart Chain blockchain, including, but not limited, to double-spend attacks, majority mining power attacks, and selfish-mining attacks. Any successful attacks present a risk to the platform and GXZ, including, but not limited to, accurate execution and recording of transactions involving GXZ.
9) Risk of Hacking and Security Weaknesses. Hackers or other malicious groups or organizations may attempt to interfere with the platform or GXZ in a variety of ways, including, but not limited to, malware attacks, denial of service attacks, consensus-based attacks, Sybil attacks, smurfing, and spoofing. Furthermore, because the platform is based on open-source software, there is a risk that a third party or a member of the Company team may intentionally or unintentionally introduce weaknesses into the core infrastructure of the platform, which could negatively affect the platform and GXZ, including the utility of GXZ for obtaining services.
The purchaser expressly agrees that the purchaser is purchasing GXZ at the purchaser’s sole risk and that GXZ is provided on an “as is” basis without warranties of any kind, either express or implied, including, but not limited to, warranties of title or implied warranties, merchantability or fitness for a particular purpose (except only to the extent prohibited under applicable law with any legally required warranty period to the shorter of thirty days from first use or the minimum period required).
Without limiting the foregoing, none of the Galactix Zone team warrants that the process for purchasing GXZ will be uninterrupted or error-free.
By purchasing, owning, and using GXZ, you expressly acknowledge and assume the following risks:
1) Risk of Losing Access to GXZ Due to Loss of Private Key(s), Custodial Error or Purchaser Error. A private key, or a combination of private keys, is necessary to control and dispose of GXZ stored in your digital wallet or vault. Accordingly, loss of requisite private key(s) associated with your digital wallet or vault storing GXZ will result in loss of such GXZ. Moreover, any third party that gains access to such private key(s), including by gaining access to login credentials of a hosted wallet service you use, may be able to misappropriate your GXZ.
Any errors or malfunctions caused by or otherwise related to the digital wallet or vault you choose to receive and store GXZ in, including your own failure to properly maintain or use such digital wallet or vault, may also result in the loss of your GXZ. Additionally, your failure to follow precisely the procedures set forth for buying and receiving Tokens, including, for instance, if you provide the wrong address for the receiving GXZ, or provide an address that is not BEP20 compatible, may result in the loss of your Tokens.
2) Risks Associated with the Binance Smart Chain Protocol. Because GXZ and the GXZ platform are based on the Binance Smart Chain protocol, any malfunction, breakdown, or abandonment of the Binance Smart Chain protocol may have a material adverse effect on the platform or GXZ. Moreover, advances in cryptography, or technical advances such as the development of quantum computing, could present risks to the GXZ and the platform, including the utility of the GXZ for obtaining services, by rendering ineffective the cryptographic consensus mechanism that underpins the Binance Smart Chain protocol.
3) Risk of Hacking and Security Weaknesses. Hackers or other malicious groups or organizations may attempt to interfere with the platform or GXZ in a variety of ways, including, but not limited to, malware attacks, denial of service attacks, consensus-based attacks, Sybil attacks, smurfing, and spoofing. Furthermore, because the platform is based on open-source software, there is a risk that a third party or a member of the Company team may intentionally or unintentionally introduce weaknesses into the core infrastructure of the platform, which could negatively affect the platform and GXZ, including the utility of GXZ for obtaining services.
4) Risks Associated with Markets for GXZ. If secondary trading of Tokens 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 third parties do ascribe an external exchange value to GXZ (e.g., as denominated in a digital or fiat currency), such value may be extremely volatile.
5) Risk of Uninsured Losses. Unlike bank accounts or accounts at some other financial institutions, GXZ is 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 Company, to offer recourse to you.
6) Risks Associated with Uncertain Regulations and Enforcement Actions. The regulatory status of GXZ and distributed ledger technology is unclear or unsettled in many jurisdictions. It is difficult to predict how or whether regulatory agencies may apply existing regulations with respect to such technology and its applications, including the Galactix Zone platform and GXZ. It is likewise difficult to predict how or whether legislatures or regulatory agencies may implement changes to laws and regulations affecting distributed ledger technology and its applications, including the platform and GXZ.
Regulatory actions could negatively impact the platform and GXZ in various ways, including, for purposes of illustration only, through a determination that the purchase, sale and delivery of GXZ constitute unlawful activity or that GXZ is a regulated instrument that requires registration or licensing of those instruments or some or all of the parties involved in the purchase, sale, and delivery thereof.
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.
7) Risks Arising from Taxation. The tax characterization of GXZ is uncertain. You must seek your own tax advice in connection with purchasing GXZ, which may result in adverse tax consequences for you, including withholding taxes, income taxes, and tax reporting requirements.
8) Risk of Competing Platforms. It is possible that alternative platforms could be established that utilize the same open-source code and protocol underlying the platform and attempt to facilitate services that are materially similar to the Galactix Zone services.
9) Risks Arising from Lack of Governance Rights. Because GXZ confers no governance rights of any kind with respect to the Galactix Zone platform or the Company, all decisions involving the Company’s products or services within the platform or the Company itself will be made by the Company at its sole discretion. These decisions could adversely affect the platform and the utility of any GXZ you own, including their utility for obtaining services.
10) Unanticipated Risks. Cryptographic tokens such as GXZ are new and untested technology. In addition to the risks discussed here, there are other risks associated with your purchase, possession, and use of GXZ, including unanticipated risks. Such risks may further materialize as unanticipated variations or combinations of the risks discussed above.
No Consequential Damages. To the fullest extent permitted under applicable law, the Company shall not be liable for any incidental, consequential, indirect, or special damages, lost business or anticipated savings, lost profits, lost data, lost goodwill, or third party claims, whether foreseeable or not, arising out of or in connection with GXZ or the Agreement even if the Company has been advised, knew, or should have known, of the possibility of such damages and regardless of the form of action, whether in contract or in tort, including negligence and strict liability.
Liability Limitation. To the fullest extent permitted under applicable law, and regardless of the form of action, whether in contract or in tort, including negligence and strict liability, the Company’s total liability, if any, for any and all claims arising out of or in connection with the Agreement shall not exceed the total fees (excluding taxes) payable to the Company under the Agreement.