Effective Date: June 10th 2024
1. Acceptance of Terms
By accessing or using any part of the LongIndia Coin platform (the "Service"), you agree to become bound by the terms and conditions of this agreement. If you do not agree to all the terms and conditions of this agreement, you may not access the Service.
2. Eligibility
To use the Service, you must be at least 18 years old and have the legal capacity to enter into this agreement. By using the Service, you represent and warrant that you meet these requirements.
3. Description of Service
LongIndia Coin is a cryptocurrency token issued on the Solana blockchain, backed by investments in Indian equity, debt, mutual funds, SIPs, and other financial instruments. The Service includes:
- The issuance and trading of LongIndia Coin.
- Investment management and reporting.
- Buy-back operations to enhance token value and liquidity.
4. Account Registration
To access certain features of the Service, you may be required to register for an account. You agree to provide accurate, current, and complete information during the registration process and to update such information to keep it accurate, current, and complete. You are responsible for maintaining the confidentiality of your account password and for all activities that occur under your account.
5. Token Issuance and Dilution
LongIndia Coin maintainers will periodically dilute their stake by selling a maximum of 0.4% or $1 million worth of tokens in a single transaction, whichever is lower. The funds raised will be invested in Indian financial instruments. A service fee of 0.05% will be charged for each token dilution.
6. Investment Transparency
Maintainers will regularly share detailed investment reports with the community, including:
- Amount of money raised and invested.
- Breakdown of investments by asset type and specific instruments.
- Performance metrics of the investments.
7. Buy-Back Mechanism
As the value of investments rises, maintainers will use profits to buy back LIC tokens from the market. This reduces the circulating supply, increases the token’s value, and improves liquidity.
8. Fees and Charges
The Service includes a service fee of 0.05% for each token dilution. Additional fees may apply for transactions and other services provided by the platform. All fees are subject to change and will be communicated in advance.
9. Prohibited Activities
You agree not to engage in any of the following prohibited activities:
- Using the Service for any illegal purpose or in violation of any local, state, national, or international law.
- Attempting to interfere with or compromise the integrity or security of the Service.
- Impersonating another person or otherwise misrepresenting your affiliation with a person or entity.
10. Intellectual Property
All content and materials on the Service, including but not limited to text, graphics, logos, and software, are the property of LongIndia Coin or its licensors and are protected by intellectual property laws. You may not use, reproduce, or distribute any content from the Service without our express written permission.
11. Disclaimers and Limitation of Liability
The Service is provided on an "as is" and "as available" basis. LongIndia Coin makes no representations or warranties of any kind, express or implied, regarding the operation of the Service or the information, content, or materials included. To the fullest extent permitted by law, we disclaim all warranties, express or implied, including but not limited to implied warranties of merchantability and fitness for a particular purpose. LongIndia Coin will not be liable for any damages of any kind arising from the use of the Service, including but not limited to direct, indirect, incidental, punitive, and consequential damages.
12. Indemnification
You agree to indemnify, defend, and hold harmless LongIndia Coin, its officers, directors, employees, and agents, from and against any claims, liabilities, damages, losses, and expenses, including reasonable attorneys' fees and costs, arising out of or in any way connected with your access to or use of the Service, your violation of these Terms, or your infringement of any intellectual property or other rights of any third party.
13. Termination
We may terminate or suspend your account and access to the Service, without prior notice or liability, for any reason whatsoever, including if you breach these Terms. Upon termination, your right to use the Service will immediately cease.
14. Governing Law
These Terms shall be governed and construed in accordance with the laws of [Your Jurisdiction], without regard to its conflict of law provisions.
15. Changes to Terms
We reserve the right, at our sole discretion, to modify or replace these Terms at any time. If a revision is material, we will provide at least 30 days' notice prior to any new terms taking effect. By continuing to access or use our Service after any revisions become effective, you agree to be bound by the revised terms.
16. Contact Information
If you have any questions about these Terms, please contact us at [Contact Email].
By using the LongIndia Coin Service, you acknowledge that you have read, understood, and agreed to these Terms of Service.
