This Privacy Policy describes how Ellcrys and its affiliates ("Ellcrys," "we," "our" or "us") collect, use, and share information in connection with your use of our websites (including www.ellcrys.co), services, and applications (collectively, the "Services"). This Privacy Policy (the "Privacy Policy") does not apply to information our customers may process when using our Services.

We may collect and receive information about users of our Services ("users," "you," or "your") from various sources, including: (i) information you provide through your user account on the Services (your "Account") if you register for the Services; (ii) your use of the Services; and (iii) from third-party websites, services, and partners.

We recommend that you read this Privacy Policy in full to ensure you are fully informed. If you have any questions about this Privacy Policy or Ellcrys’ data collection, use, and disclosure practices, please contact us at ​[email protected]

Hello there 👋 👋

This column will give you clarity of our legal documents. Contents on this column are in plain-english and not legally bound. So please use this card only as a guide when reviewing the legal language.

1. Information we collect

A. Information You Provide

I. Account Registration: When you register for an Account, we may ask for your contact information, including items such as name, email address, and telephone number. If you choose to refer a friend to our Services, we may also collect your friend’s email address so that we may send them a referral or promotional code to sign up for our Services.

II. Communications: If you contact us directly, we may receive additional information about you such as your name, email address, phone number, the contents of the message and/or attachments you may send us, and any other information you may choose to provide. We may also receive a confirmation when you open an email from us.

The personal information that you are asked to provide, and the reasons why you are asked to provide it, will be made clear to you at the point we ask you to provide your personal information.

B. Information We Collect When You Use Our Services.

I. Cookies and Other Tracking Technologies: As is true of most websites, we gather certain information automatically and store it in log files. In addition, when you use our Services, we may collect certain information automatically from your device. This information may include internet protocol (IP) addresses, browser type, internet service provider (ISP), referring/exit pages, operating system, date/time stamp, click stream data, landing page, and referring URL. To collect this information, a cookie may be set on your computer or device when you visit our Services. Cookies contain a small amount of information that allows our web servers to recognize you. We store information that we collect through cookies, log files, and/or clear gifs to record your preferences. We may also automatically collect information about your use of features of our Services, about the functionality of our Services, frequency of visits, and other information related to your interactions with the Services. We may track your use across different websites and services. In some countries, including countries in the European Economic Area ("EEA"), the information referenced above in this paragraph may be considered personal information under applicable data protection laws.

II. Usage of our Services: When you use our Services, we may collect information about your engagement with and utilization of our Services, such as processor and memory usage, storage capacity, navigation of our Services, and system-level metrics. We use this data to operate the Services, maintain and improve the performance and utilization of the Services, develop new features, protect the security and safety of our Services and our customers, and provide customer support. We also use this data to develop aggregate analysis and business intelligence that enable us to operate, protect, make informed decisions, and report on the performance of our business.

C. Information We Receive from Third Parties.

I. Third-Party Accounts: If you choose to link our Services to a third-party account, we will receive information about that account, such as your authentication token from the third-party account, to authorize linking. If you wish to limit the information available to us, you should visit the privacy settings of your third- party accounts to learn about your options.

II. Third-Party Partners: We may also receive publicly available information about you from our third-party partners and combine it with data that we have about you.

Basically,

This section basically tells you what data we gather from you at single instances as well as everyday usage and how it will be managed by Ellcrys.

In simple terms,

  • Your personal information is the data you provide, this would be your identity as well as means of direct contact to your profile, it is how people would be able to find you.
  • Data such as your {user content and interactive history}, is gathered from the continuous usage, we actually just want to get to know you, thus this will help us curate a better experience for you.
  • If you choose to link your account to a third party, we can only access publicly available information because we give due respect to the privacy policy of the given third party as well.

2. How we use information

We may share the information we collect in various ways, including the following:

  • Provide, operate, and maintain our Services;
  • Improve, personalize, and expand our Services;
  • Understand and analyze how you use our Services;
  • Develop new products, services, features, and functionality;
  • Communicate with you, either directly or through one of our partners, including for customer service, to provide you with updates and other information relating to the service, and for marketing and promotional purposes;
  • Process your transactions;
  • Send you text messages and push notifications;
  • Find and prevent fraud; and
  • For compliance purposes, including enforcing our Terms of Service, or other legal rights, or as may be required by applicable laws and regulations or requested by any judicial process or governmental agency.

Basically,

We use the information collected from you primarily for optimizing usability and granting you the best experience, your logins are securely stored so you don’t have to re-enter your details every time, unless of course it is preferable to you. We’re focused on providing personalised services tailored to your needs.

3. How we share information

We may share the information we collect in various ways, including the following:

A. Vendors and Service Providers: We may share information with third-party vendors and service providers that provide services on our behalf, such as helping to provide our Services, for promotional and/or marketing purposes, and to provide you with information relevant to you such as product announcements, software updates, special offers, or other information.

B. Aggregate Information: Where legally permissible, we may use and share information about users with our partners in aggregated or de-identified form that can’t reasonably be used to identify you.

C. Third-Party Partners: We also share information about users with third-party partners in order to receive additional publicly available information about you.

D. Information We Share When You Sign Up Through a Referral: If you sign up for our Services through a referral from a friend, we may share information with your referrer to let them know that you used their referral to sign up for our Services.

E. Analytics: We use analytics providers such as Google Analytics. Google Analytics uses cookies to collect non-identifying information. Google provides some additional privacy options regarding its Analytics cookies at http://www.google.com/policies/privacy/partners/

F. Business Transfers: Information may be disclosed and otherwise transferred to any potential acquirer, successor, or assignee as part of any proposed merger, acquisition, debt financing, sale of assets, or similar transaction, or in the event of insolvency, bankruptcy, or receivership in which information is transferred to one or more third parties as one of our business assets.

G. As Required By Law and Similar Disclosures: We may also share information to (i) satisfy any applicable law, regulation, legal process, or governmental request; (ii) enforce this Privacy Policy and our Terms of Service, including investigation of potential violations hereof; (iii) detect, prevent, or otherwise address fraud, security, or technical issues; (iv) respond to your requests; or (v) protect our rights, property or safety, our users and the public. This includes exchanging information with other companies and organizations for fraud protection and spam/malware prevention.

H. With Your Consent: We may share information with your consent.

Basically,

Times may come where we have to share provided information for given reasons, you can be rest assured that we’d do this in compliance with GDPR Data protection policy, as we wouldn’t turn your information into a commodity that can be sold, and if any data would be shared without your consent, your identity would be excluded from it.

4. Legal basis for processing personal information

Our legal basis for collecting and using the personal information described above will depend on the personal information concerned and the specific context in which we collect it.

However, we will normally collect personal information from you only

(i) where we need the personal information to perform a contract with you;

(ii) where the processing is in our legitimate interests and not overridden by your rights; or

(iii) where we have your consent to do so. We have a legitimate interest in operating our Services and communicating with you as necessary to provide these Services, for example when responding to your queries, improving our platform, undertaking marketing, or for the purposes of detecting or preventing illegal activities.

In some cases, we may also have a legal obligation to collect personal information from you or may otherwise need the personal information to protect your vital interests or those of another person.

If we ask you to provide personal information to comply with a legal requirement or to perform a contract with you, we will make this clear at the relevant time and advise you whether the provision of your personal information is mandatory or not (as well as of the possible consequences if you do not provide your personal information).

In essence,

Sometimes we may need your help with information, and if at all we must share your personal identity, we would be obliged to do so under a legal umbrella, first proving legitimacy of our request, as well as requiring your consent and approval.

5. Third-party services

You may access other third-party services through the Services, for example by clicking on links to those third-party services from within the Services. We are not responsible for the privacy policies and/or practices of these third-party services, and we encourage you to carefully review their privacy policies.

In essence,

Just be vigilant when using Third Parties through our service, as their policies may not relate with ours. Be sure to properly review their criteria before granting any privileges.

6. Security

Ellcrys is committed to protecting your information. To do so, we employ a variety of security technologies and measures designed to protect information from unauthorized access, use, or disclosure. The measures we use are designed to provide a level of security appropriate to the risk of processing your personal information. However, please bear in mind that the Internet cannot be guaranteed to be 100% secure.

Basically,

We hold your interest at heart so we’d be applying several security measures and techniques to ensure your protection in-terms of sensitive information and identity.

7. Data retention

We retain personal information we collect from you where we have an ongoing legitimate business need to do so (for example, to provide you with a service you have requested or to comply with applicable legal, tax, or accounting requirements). When we have no ongoing legitimate business need to process your personal information, we will either delete or anonymize it or, if this is not possible (for example, because your personal information has been stored in backup archives), then we will securely store your personal information and isolate it from any further processing until deletion is possible.

8. Access

If you are a registered user, you may access certain information associated with your Account by logging into our Services or emailing [email protected]​. If you terminate your Account, any public activity on your Account prior to deletion may remain stored on our servers and may remain accessible to the public.

To protect your privacy and security, we may also take reasonable steps to verify your identity before updating or removing your information. The information you provide us may be archived or stored periodically by us according to backup processes conducted in the ordinary course of business for disaster recovery purposes. Your ability to access and correct your information may be temporarily limited where access and correction could: inhibit Ellcrys’ ability to comply with a legal obligation; inhibit Ellcrys ability to investigate, make or defend legal claims; result in disclosure of personal information about a third party; or result in breach of a contract or disclosure of trade secrets or other proprietary business information belonging to Ellcrys or a third party.

9. Your data protection rights under the general data protection regulation(GDPR)

If you are a resident of the EEA, you have the following data protection rights:

A. If you wish to access, correct, update, or request deletion of your personal information, you can do so at any time by emailing [email protected]

B. In addition, you can object to the processing of your personal information, ask us to restrict the processing of your personal information, or request portability of your personal information. Again, you can exercise these rights by emailing [email protected]

C. You have the right to opt-out of marketing communications we send you at any time. You can exercise this right by clicking on the "unsubscribe" or "opt-out" link in the marketing emails we send you. To opt-out of other forms of marketing, please contact us by emailing [email protected]

D. Similarly, if we have collected and process your personal information with your consent, then you can withdraw your consent at any time. Withdrawing your consent will not affect the lawfulness of any processing we conducted prior to your withdrawal, nor will it affect the processing of your personal information conducted in reliance on lawful processing grounds other than consent.

E. You have the right to complain to a data protection authority about our collection and use of your personal information. For more information, please contact your local data protection authority. We respond to all requests we receive from individuals wishing to exercise their data protection rights in accordance with applicable data protection laws.

10. Your choices

You can use some of the features of the Services without registering, thereby limiting the type of information that we collect. You may unsubscribe from receiving certain promotional emails from us. If you wish to do so, simply follow the instructions found at the end of the email. Even if you unsubscribe, we may still contact you for informational, transactional, account-related, or similar purposes. Many browsers have an option for disabling cookies, which may prevent your browser from accepting new cookies or enable selective use of cookies.

Please note that, if you choose not to accept cookies, some features and the personalization of our Services may no longer work for you. You will continue to receive advertising material but it will not be tailored to your interests.

11. Children’s privacy

Ellcrys does not knowingly collect information from children under the age of 13, and children under 13 are prohibited from using our Services. If you learn that a child has provided us with personal information in violation of this Privacy Policy, you can alert us at [email protected].

12. Changes to this policy

This Privacy Policy may be modified from time to time, so please review it frequently. Changes to this Privacy Policy will be posted on our websites. If we materially change the ways in which we use or share personal information previously collected from you through our Services, we will notify you through our Services, by email, or other communication.

1. Principles

1. The following Terms (“Terms”) govern the contribution procedure (“Contributions” collectively, “Contribution” individually, “Token Sale”, “Pre-Sale”, “Pre-ICO”, “ICO”) to Ellcrys (“ELLCRYS”) by contributors (“Contributors” collectively, and “Contributor” individually) and the subsequent allocation of transferable cryptographic blockchain-based digital information units called ell (“ELL”) to Contributors.

2. ELLCRYS promotes and develops new technologies and applications, especially in the fields of new open and decentralized software architectures. A dominating, but not exclusive focus is set on the promotion and development of the so-called Ellcrys protocol and the related technologies, as well as the promotion and support of applications using the Ellcrys protocol. ELLCRYS will mainly promote the development of software technology (“the Client”) that can handle different sorts of blockchain algorithms and can be used to design a blockchain, which can serve as a decentralized Git repository host (“Ellcrys Network”). Operation of the Ellcrys Network involves transferable cryptographic blockchain-based digital information units called ell (ELL). ELL is a token that allows the holder to deploy and run software code, push code to repositories, exchange for contribution to outsourced services, vote on network governance and support operation of the network through “block creation and validation”.

3. When ELLCRYS judges that the Client has been sufficiently developed to allow the Ellcrys Network to be launched, ELLCRYS will issue a public announcement with necessary information required to swap distributed ELL tokens for the main network tokens on a 1:1 ratio.

4. The Contributor understands and accepts that while the individuals and entities, including involved entities assigned to this task, will make reasonable efforts to develop and complete the Ellcrys Network, it is possible that such development may fail and that the Ellcrys Network and any ELL will not be created, become useless and/or valueless due to technical, commercial, regulatory or any other reasons (see also section 7 regarding Risks).

5. The Contributor is also aware of the risk that even if all or parts of the Ellcrys Network are successfully developed and released in full or in parts, due to a lack of public interest, the Ellcrys Network could be fully or partially abandoned, remain commercially unsuccessful, or shut down for lack of interest or other reasons. The Contributor therefore understands and accepts that the Contribution to ELLCRYS, and/or the allocation, use and ownership of ELL, carries significant financial, regulatory and/or reputational risks (including the complete loss of value (if any) of ELL and attributed features).

6. This document does not constitute a prospectus of any sort, is not a solicitation for investment and does not pertain in any way to an offering of securities in any jurisdiction. It is a description of the functionality of a software-based fundraising campaign.

7. By donating to ELLCRYS, and/or by receiving, using and holding ELL, no form of partnership, joint venture or any similar relationship between the Contributors, ELLCRYS and/or other individuals or entities involved with the Ellcrys Network is created.

8. Citizen, resident of the USA or entity under the jurisdiction of the USA where it is not permissible to participate in digital or cryptocurrency crowd sale are not permitted to contribute to ELLCRYS

9. Individual or entity acting on behalf of a citizen, resident of the USA or any entity under the jurisdiction of the USA where it is not permissible to participate in digital or cryptocurrency crowd sale are not permitted to contribute to ELLCRYS.

10. The Contributor is aware that all properties and assets (e.g source code, patents, trademarks etc) of ELLCRYS are currently owned and managed by Crowd Effect Limited and that after the Contribution Rounds are over, a new entity will be created which will acquire Crowd Effect and all of its assets. Acquiring cost is set at 6% of total Contributions.

2. Representations and Warranties of Contributor

11. The Contributor understands and accepts that ELL do not represent or constitute any ownership right or stake, share or security or equivalent right in or relating to ELLCRYS, the Client, the Ellcrys Network and/or any software, any public or private company, corporation, entity or property.

12. By donating to ELLCRYS, and/or by receiving, using and holding ELL, the Contributor represents and warrants that:

  1. the Contributor deeply understands the functionality, usage, storage, transmission mechanisms and intricacies associated with cryptographic tokens, such as bitcoin (BTC) and ether (ETH), and blockchain based software systems and intends to use ELL to participate in network governance, mining activities, code contribution, software outsourcing or connecting private networks;
  2. the Contributor is legally permitted to receive and hold and make use of ELL in the Contributor’s jurisdiction;
  3. the Contributor is legally permitted to receive software and contribute to ELLCRYS;
  4. the Contributor is of a sufficient age to legally obtain ELL;
  5. the Contributor will take sole responsibility for any restrictions and risks associated with receiving and holding ELL;
  6. the Contributor is not contributing to ELLCRYS to obtain ELL for the purpose of speculative investment;
  7. the Contributor is not obtaining or using ELL for any illegal purposes;
  8. the Contributor waives the right to participate in a class action lawsuit or a classwide arbitration against any entity or individual involved with the Contribution to ELLCRYS, with the allocation of ELL and with the operation of the Ellcrys Network;
  9. the Contributor understands the Contribution to ELLCRYS and the allocation of ELL do not involve the purchase of shares or any equivalent in any existing or future public or private company, corporation or other entity in any jurisdiction;
  10. the Contributor understands and expressly accepts that there is no warranty whatsoever on ELL and/or the success of the Ellcrys Network, expressed or implied, to the extent permitted by law, and that ELL is created and obtained at the sole risk of the Contributor on an “as is” and “under development” basis and without, to the extent permitted by law, any warranties of any kind, including, but not limited to, warranties of title or implied warranties, merchantability or fitness for a particular purpose;
  11. the Contributor understands and accepts that the Contribution Software and/or underlying protocols may either delay and/or not execute a Contribution due to the overall Contribution volume, mining attacks and similar events;
  12. the Contributor understands with regard to ELL no market liquidity may be guaranteed and that the value of ELL over time (if any) may experience extreme volatility or depreciate in full;
  13. the Contributor understands that the Contributor bears the sole responsibility for determining if the Contribution to ELLCRYS, the allocation, use or ownership of ELL, the potential appreciation or depreciation in the value of ELL over time (if any), the sale and purchase of ELL and/or any other action or transaction related to the Ellcrys Network have tax implications; by contributing to ELLCRYS, and/or by receiving, using or holding ELL, and to the extent permitted by law, the Contributor agrees not to hold any associated party (including developers, auditors, contractors or founders) liable for any tax liability associated with or arising from the Contribution to ELLCRYS, the allocation, use or ownership of ELL or any other action or transaction related to the Ellcrys Network;
  14. the Contributor accepts any and all risks, costs and damages associated with Contributions from any US persons or US entities related in any way to the Contributor.

3. ELLCRYS Contribution Procedure

3.1. Qualification

13. Any contribution made to ELLCRYS during the Contribution Period as described below is qualified as a non-refundable donation.

3.2. Contribution Period

14. The contribution period is divided into 3 rounds (“Contribution Round”). Below are their respective start and end dates.

  • I. Round 1 (a.k.a Private Sale): Starts on Sunday, December 24th, 2017 at 12:00am UTC and ends on Wednesday, January 24th at 12:00am UTC
  • II. Round 2 (a.k.a Pre-Sale): Starts on Thursday, February 1st, 2018 at 12:00am UTC and ends on Thursday, March 1st, 2018 at 12:00am UTC
  • III. Round 3 (a.k.a Token Sale/ICO): Starts on Friday, March 30th, 2018 at 12:00am UTC and ends on Monday, April 30th, 2018 at 12:00am UTC.

15. Contributions can be made using ether (ETH) or bitcoin (BTC).

16. The minimum Contribution amount per User is 0.2 ETH or 0.007 BTC for the private sale and 0.1 ETH or 0.005 BTC for the pre-sale and ICO. Contributions below the set caps will not be visible on the User dashboard. Therefore, ELL allocation cannot be expected.

3.3. Contribution Software and Contribution Procedure

17. Contributions in ETH or BTC must be made by using the contribution software (“Contribution Software”) provided by ELLCRYS. The Contribution Software creates unique bitcoin and ethereum address to receive a User’s contributions. Any contribution sent to a User’s generated addresses will result in allocation of ELL to the User.

18. Users must provide an ethereum address during the Contribution Software registration process where they prefer to receive their allocated ELL. This address cannot be changed after registration.

19. Within the Contribution Software, the Contributor may choose, whether he wants to contribute in ETH or in BTC. Any ETH or BTC Contribution to ELLCRYS without using the Contribution Software will not lead to a ELL allocation. ELLCRYS is aware that Users may be able to participate via exchanges and other intermediaries. The use of such exchanges or intermediaries is solely at the Users’ own risk and ELLCRYS accepts no responsibility for their use.

20. Contributor will have the possibility to check their contribution on the dashboard provided in the Contribution Software at https://my.ellcrys.com

21. During the Contribution Period, the Ellcrys team may, for security reasons, pause the contribution function until the security issues have been resolved.

3.4. Bonus System

22. When Contributions are recorded by the Contribution Software, a bonus system is applied for the purpose of ELL allocation (“Contribution Bonus”). The Contribution Bonus will be granted for Contributors, who contribute early in the Contribution Period and decreases from 30% to 5% over a period of 8 weeks as follows:

  1. Week 1: Contribution Bonus of 30%;
  2. Week 2: Contribution Bonus of 20%;
  3. Week 3: Contribution Bonus of 10%;
  4. Week 4-8: Contribution Bonus of 5%;

4. ELL Allocation Proposal

23. All ELL will be implemented using the Ethereum ERC20 standard pending the appropriate time when the Ellcrys Network is launched and operational. During this time, Holders of ELL will be required to swap their ELL for the equivalent on the Ellcrys Network on a 1:1 ratio. The swap functionality will be implemented on the ERC20 contract and an announcement will be made informing Users about the swap, when and how to perform a swap operation.

24. Ellcrys will distribute allocated ELL to Users after the third round of contributions.

25. For every Contribution of BTC and/or ETH, as recorded by the Contribution Information, ELLCRYS will recommend the allocation of ELL to the owner of the ETH and/or BTC address the Contribution is sent to.

26. The following are the ELL allocations for each Contribution Round:

  1. Round 1: 300,000,000 ELL
  2. Round 2: 800,000,000 ELL
  3. Round 3: 900,000,000 ELL

27. The following are the USD price for each Contribution Round:

  1. Round 1: $0.05
  2. Round 2: $0.08
  3. Round 3: $0.1

28. 35% of the total token supply (3,500,000,000) will be allocated to ELLCRYS and vested for 5 years. This allocation will be used to fund future operations and management of the Ellcrys Network.

29. 6% of Contributions received will be used to acquire the ELLCRYS holding company (“Crowd Effective Limited”). After the purchase, a Public Benefit Corporation will be created in Delaware to manage ELLCRYS and all owned and acquired assets (trademarks, patents, source code etc).

30. All ELL allocated during the private sale will be locked/vested for a period of 6 months. The lock period begins after tokens have been distributed and listed on at least one exchange.

5. ELLCRYS Project Execution

31. It remains at ELLCRYS' sole discretion to decide how to use the received Contributions to develop and execute the Ellcrys Project.

32. The Contributor understands and accepts that he does not have any influence over the governance of ELLCRYS.

33. ELLCRYS has the right to engage subcontractors to perform some or all of the development and execution of the Ellcrys Project.

34. The Contributor understands and accepts that the Ellcrys Network is undergoing substantial development which may involve significant conceptual, technical and commercial changes before release.

6. Risks

35. The Contributor understands and accepts the risks in connection with the Contribution to ELLCRYS, and/or with the allocation, use and ownership of ELL. In particular, but without being limited to these examples, the Contributor understands the inherent risks set forth above and hereinafter:

  • Risk of software weaknesses: The Contributor understands and accepts that the underlying software application and software platform, the Ellcrys Network, the Client, the Contribution Software and other involved software and technology and technical concepts and theories are still in an early development stage and unproven, that there is no warranty that the process for receipt, use and ownership of ELL will be uninterrupted or error-free and that 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 ELL.
  • Regulatory risk: The Contributor understands and accepts that blockchain technologies allow new forms of interaction and that 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 CSS and which may, inter alia, result in substantial modifications of the Ellcrys Network, including its termination and the loss of ELL for the Contributor. Further, the Contributor accepts and bears the risks with respect to US regulations that may regulate Contribution and/or potential custody of ELL.
  • Risk of abandonment / lack of success: The Contributor understands and accepts that the allocation of ELL and the development of the Ellcrys Network may be abandoned for a number of reasons, including lack of interest from industry and/or the public, lack of funding, lack of commercial success or prospects (e.g. caused by competing projects). The Contributor therefore understands that there is no assurance that, even if the Ellcrys Network is partially or fully developed and launched, the Contributor will receive any functionality through the ELL held by him.
  • Risk associated with other applications: The Contributor understands and accepts that the Ellcrys Network may give rise to other, alternative projects, promoted by unaffiliated third parties, under which ELL will have no intrinsic value.
  • Risk of loss of private key: ELL may only be accessed using a private key that corresponds to the address at which it is stored. The Contributor understands and accepts that if his private key, or the “seed” used to create his address and corresponding private key is lost or stolen, the obtained ELL associated with the Contributor’s address will be unrecoverable and will be permanently lost.
  • Risk of theft: The Contributor understands and accepts that the underlying software application and software platform, the Ellcrys Network, the Client, the Contribution Software, other involved software, other technology components and/or platforms may be exposed to attacks by hackers or other individuals that could result in theft or loss of ELL, or the theft or loss of Contributions, impacting the ability to develop and launch the Ellcrys Network.
  • Risk of blockchain attacks: The Contributor understands and accepts that, as with other public blockchain-based systems that depend on independent validators, the Ellcrys Network may be susceptible to attacks including but not limited to double-spend attacks, majority validator power attacks, “nothing at stake” attacks, and race condition attacks. Any successful attacks present a risk to the Ellcrys Network, expected proper execution and sequencing of ELL transactions, and expected proper execution and sequencing of software computations.
  • Risk of governance attacks and failure: The Contributor understands and accepts that the Ellcrys Network uses an delegate-based governance system known as delegated proof of stake (“Governance System”). It is possible that the Governance System adopts proposals that have an adverse effect on the useful functioning of the Ellcrys Network and/or the value of ELL. If the Governance System is attacked, or becomes controlled either directly or indirectly by some party or parties that make unwise decisions, or the community generally makes unwise decisions, the value of ELL held by a Contributor might be greatly reduced or even permanently lost.

  • 7. Taxation

    36. The Contributor bears the sole responsibility for determining if his Contribution to ELLCRYS, the allocation, use or ownership of ELL, the potential appreciation or depreciation in the value of ELL over time (if any), the sale and purchase of ELL and/or any other action or transaction related to the Ellcrys Network have tax implications for him.

    37. By donating to ELLCRYS, and/or by receiving, using or holding ELL, and to the extent permitted by law, the Contributor agrees not to hold any third party (including developers, auditors, contractors or founders) liable for any tax liability associated with or arising from the Contribution to ELLCRYS, the allocation, use or ownership of ELL or any other action or transaction related to the Ellcrys Network.

    8. No Liability

    38. The Contributor acknowledges and agrees that, to the fullest extent permitted by any applicable law, the Contributor will not hold ELLCRYS, any developers, auditors, contractors or founders and/or the Ellcrys Network liable for any and all damages or injury whatsoever caused by or related to the use of, or the inability to use, the Contribution Software, the ELL or the Ellcrys Network under any cause or action whatsoever of any kind in any jurisdiction, including, without limitation, actions for breach of warranty, breach of contract or tort (including negligence) and that developers, auditors, contractors or founders of the Contribution Software, the ELL or the Ellcrys Network shall not be liable for any indirect, incidental, special, exemplary or consequential damages, including for loss of profits, goodwill or data, in any way whatsoever arising out of the use of, or the inability to use of the Contribution Software, the ELL or the Ellcrys Network.

    39. The Contributor further specifically acknowledges that ELLCRYS and developers, auditors, contractors or founders of the Contribution Software, the ELL or the Ellcrys Network are not liable, and the Contributor agrees not to seek to hold them liable, for the conduct of third parties, including other creators of ELL, and that the risk of creating, holding and using ELL rests entirely with the Contributor.

    40. By receiving, holding or using ELL, and to the extent permitted by law, the Contributor agrees not to hold any third party (including, without limitation, ELLCRYS, developers, auditors, contractors or founders) liable for any regulatory implications or liability associated with or arising from the allocation, ownership or use of ELL or any other action or trans- action related to the Ellcrys Network.

    9. Miscellaneous

    41. The Contributor agrees that if any portion of these Terms is found illegal or unenforceable, in whole or in part, such provision shall, as to such jurisdiction, be ineffective solely to the extent of such determination of invalidity or unenforceability without affecting the validity or enforceability thereof in any other manner or jurisdiction and without affecting the remaining provisions of the Terms, which shall continue to be in full force and effect.

    42. The Terms govern the Contributions to ELLCRYS, and the allocation, use and holding of ELL and supersede any public statements about the launch of Ellcrys Network and/or the ELL made by anyone in the past, present and future.