Last Update Posted: June 2020
This Polymath Testnet Wallet Addendum (the “Addendum”) contains additional terms to supplement the Polymesh Testnet Terms of Service and are to be read in conjunction with Polymesh Testnet Terms of Service (collectively, the “Polymesh Testnet Wallet Terms”, “Terms”).
The Polymesh Testnet Wallet Terms describe the terms and conditions applicable to the Polymesh Testnet Wallet under which Polymath Inc. (“Polymath”, “we”, “our”, “us”) provides the Polymesh Testnet Wallet to you.
To the extent that there are any conflicts between the provisions within this Addendum and the Polymesh Testnet Terms of Service, the provisions within this Addendum shall prevail unless the Polymesh Testnet Terms of Service specifically identifies the provisions herein and declares that it supersedes such provisions. Any terms used in this Addendum that are not defined herein, shall have the meaning ascribed to such terms in the Polymesh Testnet Terms of Service.
1. Acceptance of terms
Polymath reserves the right, at its sole discretion, to modify or replace these Terms at any time. The most current version of these Terms will be posted on our website. You shall be responsible for reviewing and becoming familiar with any such modifications. Use of the Wallet Services by you after any modification to the Terms constitutes your acceptance of the Polymesh Testnet Wallet Terms as modified.
3. Account Password and Security
When setting up an account within the Testnet Wallet, you will be responsible for keeping your own account secrets, which may be a twelve-word seed phrase, an account file, or other locally stored secret information. The Testnet Wallet encrypts this information locally with a password you provide, that we never send to our servers. You agree to (a) never use the same password for Testnet Wallet that you have ever used outside of this service, (b) keep your secret information and password confidential and do not share them with anyone else and (c) immediately notify us of any unauthorized use of your account or breach of security so that we can improve the Wallet Services. Polymath will not be able to assist you in recovering your password or the tokens in your Testnet Wallet nor will we be able to deactivate your Testnet Wallet. Polymath will not be liable for any loss or damage arising from your failure to comply with this section.
4. REPRESENTATIONS, WARRANTIES AND RISKS
4.1 Testing Purposes
The Testnet Wallet and the Wallet Services and Content are only for testing purposes in a non-production environment on Testnet. The Testnet Wallet and Wallet Services are only for managing your accounts of Testnet Tokens and security tokens issued on Testnet. The Testnet Wallet and Wallet Services should not, nor are intended to, be used: (i) on any blockchain other than Testnet; and (ii) to manage any accounts other than of Testnet Tokens and security tokens issued on Testnet. Testnet Wallet is not intended to be relied on for any reason whatsoever or to be used in a production environment.
You acknowledge and accept that the Testnet Wallet and the Wallet Services (a) may contain bugs, errors and defects, (b) may function improperly or be subject to periods of downtime and unavailability, (c) may result in total or partial loss or corruption of data; (d) may result in partial or total inability to access or loss of any tokens in the Testnet Wallet; and (e) may be modified at any time, including through the release of subsequent versions, all with or without notice to you. The Testnet Wallet and Wallet Services are available on an “as is” basis for the sole purpose of collecting feedback on quality, usability, performance and defects.
4.2 Warranty disclaimer
In addition to the warranty disclaimers in the Testnet Disclaimer, Polymesh Testnet Terms of Service and the Terms of Site Use which are incorporated herein, you acknowledge that Polymath has no control over, and no duty to take any action regarding: which users gain access to or use the Wallet Service; what effects the Content may have on you; how you may interpret or use the Content; or what actions you may take as a result of having been exposed to the Content. You release Polymath from all liability for you having acquired or not acquired Content through the Wallet Service. Polymath makes no representations concerning any Content contained in or accessed through the Wallet Service, and Polymath will not be responsible or liable for the accuracy, copyright compliance, legality or decency of material contained in or accessed through the Wallet Service.
You acknowledge that Polymath is not responsible for transferring, safeguarding, or maintaining your private keys or any tokens including Testnet Tokens associated therewith. If you lose, mishandle or have stolen associated tokens private keys, you acknowledge that you may not be able to recover associated tokens, and that Polymath is not responsible for such loss. You acknowledge that Polymath is not responsible for any loss, damage or liability arising from your failure to comply with the terms hereunder.
4.3 Sophistication and Risk of Cryptographic Systems
By utilizing the Wallet Service or interacting with the Content or platform in any way, you represent that you understand the inherent risks associated with cryptographic systems; and warrant that you have an understanding of the usage and intricacies of native cryptographic tokens, tokenized assets and blockchain-based software systems.
4.4 Risk of Regulatory Actions in One or More Jurisdictions
Polymath could be impacted by one or more regulatory inquiries or regulatory action, which could impede or limit the ability of Polymath to continue to develop, or which could impede or limit your ability to access or use the Wallet Service or our Testnet.
4.5 Risk of Weaknesses or Exploits in the Field of Cryptography
You acknowledge and understand that Cryptography is a progressing field. Advances in code cracking or technical advances such as the development of quantum computers may present risks to cryptocurrencies and Wallet Services or Content, which could result in the theft or loss of your cryptographic tokens or property. Polymath does not guarantee or otherwise represent full security of the system. By using the Wallet Service or accessing Content, you acknowledge these inherent risks.
4.6 Application Security
You acknowledge that Polymesh applications are code subject to flaws and acknowledge that you are solely responsible for evaluating any code provided by the Wallet Services or Content and the trustworthiness of any third-party websites, products, distributed ledger technology, or Content you access or use through the Wallet Service. You further expressly acknowledge and represent that Polymesh applications can be written maliciously or negligently, that Polymath cannot be held liable for your interaction with such applications and that such applications may cause the loss of property or even identity. This warning and others later provided by Polymath in no way evidence or represent an on-going duty to alert you to all of the potential risks of utilizing the Wallet Service or Content.
5. Intellectual Property
5.1 Our Proprietary Rights
All title, ownership and intellectual property rights in and to the Wallet Service are owned by Polymath or its licensors. You acknowledge and agree that the Wallet Service contains proprietary and confidential information that is protected by applicable intellectual property and other laws. Except as expressly authorized by Polymath, you agree not to copy, modify, rent, lease, loan, sell, distribute, perform, display or create derivative works based on the Wallet Services, in whole or in part.
5.2 Limited License
We grant you a limited, non-exclusive, revocable permission to make use of the Wallet Services (collectively, “Access”). This Access shall remain in effect until and unless terminated by you or us. You promise and agree that you will not redistribute or transfer the Wallet Service.
The Testnet Wallet software application, including without limitation the Wallet Services, are not sold or transferred to you, and Polymath and its licensors retain ownership of all copies of the software applications even after installation on your personal computers, mobile handsets, tablets and/or other devices (“Devices”).
All Polymath trademarks, service marks, trade names, logos, domain names, and any other features of the Polymath brand (“Polymath Brand Features”) are the sole property of Polymath or its licensors. The Terms do not grant you any rights to use any Polymath Brand Features whether for commercial or non-commercial use.
You agree to abide by our user guidelines and not to use the Wallet Service or any part thereof in any manner not expressly permitted by these Terms. Except for the rights expressly granted to you in these Terms, Polymath grants no right, title, or interest to you in the Wallet Services.
Third party software (for example, open source software libraries) included in the Wallet Service are made available to you under the relevant third party software library’s license terms.
The Wallet Services provide, or third parties may provide, links to other World Wide Web or accessible sites, applications or resources. Because Polymath has no control over such sites, applications and resources, you acknowledge and agree that Polymath is not responsible for the availability of such external sites, applications or resources, and does not endorse and is not responsible or liable for any content, advertising, products or other materials on or available from such sites or resources. You further acknowledge and agree that Polymath shall not be responsible or liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with use of or reliance on any such content, goods or services available on or through any such site or resource.
In addition to the provisions which by law or by their nature should survive the termination of the Polymesh Testnet Terms of Service and the Terms of Site Use, the following provisions of this Addendum also survive any termination of these Terms: ACCOUNT PASSWORD AND SECURITY; REPRESENTATIONS, WARRANTIES AND RISKS; INTELLECTUAL PROPERTY; LINKS; SURVIVAL; and NO THIRD PARTY BENEFICIARIES.
8. No third-party beneficiaries
You agree that, except as otherwise expressly provided in these Terms, there shall be no third-party beneficiaries to these Terms.