The following Terms and Conditions ("Terms") govern the sale of the cryptographic token — Lescoin ("LSC ") — to purchasers of LSC ("Purchasers" collectively, and "Purchaser" individually).
The DAO Lescoin Platform is being developed by a volunteer contributor team, and will continue to be developed on a volunteer basis by some developers as well as under a more formalised contracting or employment relationship for other developers.
This document is not a solicitation for investment and does not pertain in any way to an offering of securities in any jurisdiction. Participation in the crowdsale will not provide you with a "security" or "equity" stake in this project. The ownership of LSC Tokens is a reward based return and not intended to be any form of loan based return. The digital token known as "LSC" is only useful for identifying your contribution to the crowdsale. If the platform is successful, owners of LSC tokens will be receiving gifts of ETH in acknowledgement of their support.
This document describes the DAOLescoin ICO Sale in which the cryptographic token ("LSC") is sold, as well as the initial creation of the token. Parties may be interested in purchasing LSC (the token) in the DAO Lescoin ICO Sale to support the development of the DAO Lescoin Platform. Individuals, businesses, and other organisations should carefully weigh the risks, costs, and benefits of acquiring the token early in the FundRequest ICO Sale versus waiting to purchase LSC on open, third-party exchanges once the system is operational.
Ownership of LSC carries no rights expressed or implied. Purchases of LSC are non-refundable. Purchasers should have no expectation of influence over governance of the platform.
By participating in the sale of LSC , you acknowledge and represent that you have carefully reviewed the Terms and fully understand the risks, costs, and benefits of purchasing LSC and agree to be bound by these Terms. As set forth further below, you further represent and warrant that, to the extent permitted by law, you are authorised to purchase LSC in your relevant jurisdiction, are of a legal age to be bound by these Terms, and will not hold DAO Lescoin , its parent and affiliates, and the officers, directors, agents, joint ventures, employees, developers, volunteers and suppliers of FundRequest or our parent or affiliates, now or in the future and any other member of the DAO Lescoin Team (collectively all people who contribute to the DAO Lescoin platform) liable for any losses or any special, incidental, or consequential damages arising out of, or in any way connected to the sale of LSC .
WARNING: DO NOT PURCHASE LSC IF YOU ARE NOT AN EXPERT IN DEALING WITH CRYPTOGRAPHIC TOKENS AND BLOCKCHAIN-BASED SOFTWARE SYSTEMS
Purchases of LSC should be undertaken only by individuals, entities, or companies that have significant experience with, and understanding of, the usage and intricacies of cryptographic tokens, like bitcoin (BTC), and blockchain-based software systems.
While the DAO Lescoin Team will provide general guidelines for user usage and storage of LSC before the DAO Lescoin Platform becomes operational, Purchasers should have functional understanding of storage and transmission mechanisms associated with other cryptographic tokens. While the AO Lescoin
Team will be available to assist Purchasers of LSC during and after the sale, DAO Lescoin will not be responsible for lost ETH or LSC resulting from actions taken by, or omitted by Purchasers. Note, in particular, that LSC Purchasers should take great care to write down their wallet password and not lose it so as to be sure that they will be able to access their LSC .
If you do not have such experience or expertise, then you should not purchase LSC.
WARNING: CRYPTOGRAPHIC TOKENS OF VALUE MAY EXPERIENCE EXTREME VOLATILITY IN PRICING
Cryptographic tokens that possess value in public markets, such as BTC, have demonstrated extreme fluctuations in price over short periods of time on a regular basis. A Purchaser of LSC should be prepared to expect similar fluctuations, both down and up, in the price of LSC denominated in ETH or United States dollars ("USD") or other fiat money of other jurisdictions. Such fluctuations are due to market forces and represent changes in the balance of supply and demand. DAO Lescoin cannot and does not guarantee market liquidity for LSC and therefore there may be periods of time in which LSC is difficult to buy. Additionally, due to different regulatory dictates in different jurisdictions and the inability of citizens of certain countries to open accounts at exchanges located anywhere in the world, the liquidity of LSC may be markedly different in different countries and this would likely be reflected in significant price discrepancies. Please understand that this project is in its early days of development and that the market for these tokens will be very shallow and thus make it will be harder se tokens without effecting the price on the market.By purchasing LSC , you expressly acknowledge and represent that you fully understand that LSC may experience volatility in pricing and will not seek to hold any of the DAO Lescoin Parties liable for any losses or any special, incidental, or consequential damages arising from, or in any way connected to the sale of LSC .WARNING: THE PURCHASE OF LSC HAS A NUMBER OF RISKS The purchase of LSC carries with it a number of risks. Prior to purchasing LSC, you should carefully consider the risks listed below and, to the extent necessary, consult an appropriate lawyer, accountant, or tax professional. If any of the following risks are unacceptable to you, you should not purchase LSC . By purchasing LSC , and to the extent permitted by law, you are agreeing not to hold any of the DAO Lescoin Parties liable for any losses or any special, incidental, or consequential damages arising from, or in any way connected, to the sale of LSC , including losses associated with the risks set forth below.Obligation to Determine If Purchaser Can Purchase LSC in Purchaser's JurisdictionThe DAO Lescoin ICO Sale constitutes the sale of a legal software product under Virgin Islands law. This product sale is conducted by DAO Lescoin, a Virgin Islands organisation, operating under Virgin Islands law. It is the responsibility of each potential Purchaser of LSC to determine if the Purchaser can legally purchase LSC in the Purchaser's jurisdiction.Acceptance of Terms and Conditions of the LSC SaleAs a first step in the purchase process, DAO lescoin will present the Purchaser with these Terms, and any other associated documents, along with a checkbox. By clicking the checkbox, the Purchaser: ( consents and agrees to the Terms and the Lescoin Token Product Purchase Agreement; (ii) represents and warrants that the Purchaser is legally permitted to purchase LSC in the Purchaser's jurisdiction and is legally permitted to receive products of Virgin Islands origin (iii) represents and warrants that the Purchaser is of a sufficient age to legally purchase LSC or has received permission from a legal guardian who has reviewed and agreed to these Terms; (iv) represents and warrants that the the Purchaser will take sole responsibility for any restrictions and risks associated with the purchase of LSC as set forth below; (v) represents and warrants that Purchaser is not exchanging Ether (ETH) for LSC for the purpose of speculative investment; (vi) represents and warrants that the Purchaser is acquiring LSC for supporting the development of a platform for international forest trade or to facilitate development, testing, deployment and operation of decentralised applications on the Ethereum Platform; and (vii) represents and warrants that the Purchaser has an understanding of the usage and intricacies of cryptographic
tokens, like BTC, and blockchain-based software systems.Independent Confirmation of PurchasesDuring the purchase process on the https:https://lescoin.io/ website, DAO Lescoin will provide Purchasers with a unique intermediary ETH address. Using this address, Purchasers can track and confirm that the Purchaser's ETH has been received at that address.Knowledge of the unique intermediary ETH address does not constitute a purchase receipt or indicate in any way that any party possessing such knowledge has rights to or ownership of the purchased LC .Loss of the Purchase Password Will Cause the Loss of the Purchased LSCs part of the purchase process, and in order to purchase LSC, the Purchaser will need to provide an ETH address. The Purchaser ETH address will be used to send the LSC token to. The Purchaser ETH address will store the purchased LSC.Purchaser must keep the Purchase ETH address Password safe and not share it in any way or with anybody. The Purchase ETH address Password is essential for accessing the Purchaser's LSC. Purchaser's loss of the Purchase ETH address Password will cause the loss of the purchased LSC. Unauthorised access by any party to a Purchaser's ETH address Password along with access to the Ethereum wallet, will enable that unauthorised party to access the purchased LSC and the LSC will be lost.By purchasing LSC, and to the extent permitted by applicable law, the Purchaser agrees not to hold any of the DAO Lescoin Parties liable for any losses or any special, incidental, or consequential damages arising out of, or in any way connected to, Purchaser's failure to properly secure and keep private the Purchaser's ETH address Password and/or the Purchaser's Ethereum wallet LSC Will Only Be Available For Sale on the DAO Lescoin Website Lescoin.io will only sell LSC through the Lescoin.io website, available at https:https://lescoin.io/. To the extent that any third-party website or service offers LSC for sale during the DAO Lescoin ICO Sale or facilitates the sale or transfer of LSC in any way during the DAO Lescoin ICO Sale, such third-party web d by DAO Lescoin or its parents and affiliates and have no relationship in any way with the DAO Lescoin Parties. As a result, DAO Lescoin prohibits the use of these third-party websites or services for the purchase of LSC prior to the end of the DAO Lescoin ICO Sale.Purchasers should take great care to ensure that the URL of your web browser indicates that it is using a hypertext transport protocol secure connection ("https") and that the domain name is correct.By purchasing LSC , and to the extent permitted by applicable law, the Purchaser agrees not hold any of the DAO Lescoin Parties liable for losses incurred by any person, entity, corporation, or group individuals or groups who uses a third party service to purchase LSC .The only official and authorised LSC sale website URL is https://https://lescoin.io/ Fraudulent Attempts to Double Spend ETH DAO Lescoin will monitor all potential transactions for fraudulent attempts to double spend ETH. Any detected double spend of ETH will result in no LSC being transferred the associated wallet address.DAO LEscoin Will Not Purchase LSC During ICO Sale DAO Lescoin warrants that it will not purchase LSC in its own sale. Furthermore DAO Lescoin warrants that it will not purchase LSC from any third party, or acquire LSC in any manner, or acquire future control of LSC , during and one year after the period of the DAO Lescoin ICO Sale.Certain Risks Associated with the Purchase of LSC The purchase of LSC carries with it significant risk. Prior to purchasing LSC , the Purchaser should carefully consider the below risks and, to the extent necessary, consult a lawyer, accountant, and/or tax professionals prior to determining whether to purchase LSC .Risk of Dissolution of The DAO Lescoin Project Due To a Diminishment in the Value of the ETH Sale RevenueAll Purchasers are paying ETH to purchase LSC . In the past few months the price of ETH in USD and EUR has been relatively stable. However, despite recent price stability, it is possible that the value of ETH will drop significantly in the future, depriving DAO Lescoin of sufficient resources to continue to operate. In order to guard against this risk, DAO Lescoin intends to periodically convert proceeds from the sale of LSC into fiat currencies instead of ETH. In order to cover the initial startup costs, DAO Lescoin will convert 150.000 USD worth of Ether to fiat after a successful crowdsale.Risk of Losing Access to LSC Due to Loss of a Wallet File or PasswordAs noted above, LSC will be stored in a wallet, which can only be accessed with a password selected by the Purchaser. If a Purchaser of LSC does not maintain an accurate record of the Purchaser's
password or losses the wallet, this will lead to the loss of LSC .As a result, Purchasers must safely store their password and the wallet in one or more backup locations that are well separated from the primary location. Additionally the password and the wallet should never be stored together.In order to access one's LSC , both the wallet and the password that the Purchaser entered are required; loss of either, or leakage/theft of both, will lead to the loss of a Purchaser's LSC .Risk of Unauthorised Access to a WalletAny third party that gains access to the Purchaser's Ethereum wallet and potentially access the wallet by deciphering or cracking the Purchaser's password. To guard against any improper access to the wallet, the Purchaser should select a highly secure Purchase Password for the Purchaser's LSC wallet.Purchaser must take care not to respond to any inquiry regarding their purchase of LSC , including but not limited to, email requests purportedly coming from the lescoin.io or similar looking domain.Risk of Regulatory Action in One or More JurisdictionsCryptocurrencies have been the subject of regulatory scrutiny by various regulatory bodies around the globe. The DAO Lescoin Platform and LSC could be impacted by one or more regulatory inquiries or regulatory action, which could impede or limit the ability DAO Lescoin Team to continue to develop the DAO Lescoin Platform.Risk of Insufficient Interest in the DAO Lescoin PlatformIt is possible that the DAO Lescoin Platform will not be used by a large number of external businesses, individuals, and other organisations and that there will be limited public interest in supporting the open source community via our platform. Such a lack of interest could impact the development of the DAO Lescoin Platform. DAO Lescoin has contracted with developers to help build the DAO Lescoin Platform and is working with other third-party developers around the world to create an interest in the DAO Lescoin Platform. However, it cannot predict the success of its own development efforts or the efforts of other third parties.Risk Associated With the Development of Other Platforms like DAO Lescoin . While DAO Lescoin anticipates being a leader in the development of such a platform, competition from these alternative platforms may impact success of the DAO Lescoin Project and the ability of DAO Lescoin to operate.Risk that the DAO Lescoin Platform, As Developed, Will Not Meet the Expectations of PurchaserThe Purchaser recognises that theDAO Lescoin Platform is presently under development and may undergo significant changes before release. Purchaser acknowledges that any expectations regarding the form and functionality of the DAO Lescoin Platform held by the Purchaser may not be met upon release of the DAO Lescoin Platform, for any number of reasons including a change in the design and implementation plans and execution of the implementation of the DAO Lescoin Platform.Risk that the DAO Lescoin Platform May Never be Completed or ReleasedPurchaser understands, that while the DAO Lescoin Team will make reasonable efforts to complete the DAO Lescoin software, it is possible that an official completed version of the DAO Lescoin Platform may not be released and there may never be an operational DAO Lescoin Platform.Risk of Theft Hackers or other groups or organisations may attempt to steal the ETH revenue from the DAO Lescoin ICO Sale, thus potentially impacting the ability of DAO Lescoin to develop the DAO Lescoin Platform and operate DAO Lescoin . To account for this risk, DAO Lescoin has and will continue to implement comprehensive security precautions to safeguard the ETH obtained from the sale of LSC .Risk of Security Weaknesses in the DAO Lescoin Platform SoftwareThe DAO Lescoin Platform rests on ppen source software, and there is a risk that the DAO Lescoin Team, or other third parties not directly affiliated with the DAO Lescoin Parties, may introduce weaknesses or bugs into the core infrastructural elements of the DAO Lescoin Platform causing the system to lose ETH or LSC stored in one or more Purchaser accounts or other accounts or lose sums of other valued tokens issued on the DAO Lescoin Platform.DAO Lescoin has taken steps to build, maintain, and secure the infrastructure of the DAO Lescoin Platform, and will continue to do so after the DAO Lescoin ICO Sale.Risk of Weaknesses or Exploitable Breakthroughs in the Field of CryptographyCryptography is an art, not a science. And the state of the art can advance over time Advances in code cracking, or technical advances such as the development of quantum computers, could present risks to cryptocurrencies and the DAO Lescoin
Platform, which could result in the theft or loss of ETH or LSC . To the extent possible, DAO Lescoin intends to update the protocol underlying the DAO Lescoin Platform to account for any advances in cryptography and to incorporate additional security measures, but cannot it cannot predict the future of cryptography or the success of any future security updates..Risk of Ether Mining AttacksAs with other cryptocurrencies, the blockchain used for the DAO Lescoin Platform, Ethereum is susceptible to mining attacks, including but not limited to double-spend attacks, majority mining power attacks, "selfish-mining" attacks, and race condition attacks. Any successful attacks present a risk to the DAO Lescoin Platform, expected proper execution and sequencing of ETH transactions, and expected proper execution and sequencing of contract computations. Despite the efforts of the Ethereum community, known or novel mining attacks may be successful.Risk of Rapid Adoption and Insufficiency of Computational Application Processing Power on the DAO Lescoin NetworkIf the DAO Lescoin Platform is rapidly adopted, the demand for transaction processing could rise dramatically and at a pace that exceeds the supporting rate. Under such a scenario, the entire DAO Lescoin Platform could become destabilised.All Purchases of DAO Lescoin tokens (LSC ) Are Non-RefundableALL PURCHASES OF LSC TOKENS ARE FINAL. PURCHASES OF FND ARE NON-REFUNDABLE. BY PURCHASING LSC , THE PURCHASER ACKNOWLEDGES THAT NEITHER LESCOINQUEST NOR ANY OTHER OF THE LESCOINQUEST PARTIES ARE REQUIRED TO PROVIDE A REFUND FOR ANY REASON, AND THAT THE PURCHASER WILL NOT RECEIVE MONEY OR OTHER COMPENSATION FOR ANY LSC . ONCE THE PURCHASER RECEIVES HIS OR HER TOKENS AFTER THE CROWDSALE, THEY ARE FREE TO SEND OR SELL THEM TO ANYONE OF THEIR CHOICE.Taxation of LSC token and Taxation Related to the DAO Lescoin ICO Sale DAO Lescoin makes no representations concerning the tax implications of the sale of LSC or the possession or use of LSC. The Purchaser bears the sole responsibility to determine if the purchase of LSC with ETH or the potential appreciation or depreciation in the value of LSC over time has tax implications for the Purchaser in the Purchaser's home jurisdiction.Purchasing LSC , and to the extent permitted by law, the Purchaser agrees not hold any of the DAO Lescoin Parties liable for any scoin . tax liability associated with or arising from the purchase of LSC .PrivacyAlthough DAO Lescoin requires that Purchasers provide an Ethereum address,DAO Lescoin will not publish any identifying information related to an LSC purchase, without the prior written consent of the Purchaser.Purchasers may be contacted by email by DAO Lescoin regarding a purchase. Such emails will be informational only. DAO Lescoin will not request any information from Purchasers in an email.Disclaimer of WarrantiesTHE PURCHASER EXPRESSLY AGREES THAT THE PURCHASER IS PURCHASING LSC AT THE PURCHASER'S SOLE RISK AND THAT FND 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 LESCOINQUEST PARTIES WARRANT THAT THE PROCESS FOR PURCHASING LSC WILL BE UNINTERRUPTED OR ERROR-FREE.Limitations Waiver of LiabilityTHE PURCHASER ACKNOWLEDGES AND AGREES THAT, TO THE FULLEST EXTENT PERMITTED BY ANY APPLICABLE LAW, THE DISCLAIMERS OF LIABILITY CONTAINED HEREIN APPLY TO ANY AND ALL DAMAGES OR INJURY WHATSOEVER CAUSED BY OR RELATED TO USE OF, OR INABILITY TO USE, LSC OR THE DAO LESCOIN PLATFORM 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 NONE OF THE LESCOINQUEST PARTIES SHALL 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 INABILITY TO USE, OR PURCHASE OF, OR INABILITY TO PURCHASE, LSC .THE PURCHASER FURTHER SPECIFICALLY
ACKNOWLEDGES THAT LESCOINQUEST PARTIES ARE NOT LIABLE, AND THE PURCHASER AGREES NOT TO SEEK TO HOLD ANY OF THE LESCOINQUEST PARTIES LIABLE, FOR THE CONDUCT OF THIRD PARTIES, INCLUDING OTHER PURCHASERS OF LSC , AND THAT THE RISK OF PURCHASING AND USING FND RESTS ENTIRELY WITH THE PURCHASER .TO THE EXTENT PERMISSIBLE UNDER APPLICABLE LAWS, UNDER NO CIRCUMSTANCES WILL ANY OF THE LESCOINQUEST PARTIES BE LIABLE TO ANY PURCHASER FOR MORE THAN THE AMOUNT THE PURCHASER HAVE PAID TO LESCOINQUEST FOR THE PURCHASE OF LSC .SOME JURISDICTIONS DO NOT ALLOW THE EXCLUSION OF CERTAIN WARRANTIES OR THE LIMITATION OR EXCLUSION OF LIABILITY FOR CERTAIN TYPES OF DAMAGES. THEREFORE, SOME OF THE ABOVE LIMITATIONS IN THIS SECTION AND ELSEWHERE IN THE TERMS MAY NOT APPLY TO A PURCHASER. IN PARTICULAR, NOTHING IN THESE TERMS SHALL AFFECT THE STATUTORY RIGHTS OF ANY PURCHASER OR EXCLUDE INJURY ARISING FROM ANY WILFUL MISCONDUCT OR FRAUD OF DAO Lescoin .Jurisdiction of the SaleThe legal entity conducting the DAO Lescoin ICO Sale, DAO Lescoin BVBA, falls under Virgin Islands is law.Dispute ResolutionAll disputes, controversies or claims arising out of, relating to, or in connection with the Terms, the breach thereof, or DAO Lescoins sale of LSC or use of the DAO Lescoin Platform shall be finally settled under the Rules of Arbitration of the International Chamber of Commerce by one or more arbitrators appointed in accordance with said Rules. All claims between the parties relating to these Terms that are capable of being resolved by arbitration, whether sounding in contract, tort, or otherwise, shall be submitted to ICC arbitration.Prior to commencing arbitration, the parties have a duty to negotiate in good faith and attempt to resolve their dispute in a manner other than by submission to ICC arbitration.The arbitration panel shall consist of one arbitrator only, unless the ICC Court of Arbitration determines that the dispute is such as to warrant three arbitrators. If the Court determines that one arbitrator is sufficient, then such arbitrator shall be selected from Virgin island. If the Court determines that three arbitrators are necessary, then each party shall have 30 days to nominate an arbitrator of its choice — in the case of the Claimant, measured from receipt of notification of the ICC Court's decision to have three arbitrators; in the case of Respondent, measured from receipt of notification of Claimant's nomination. All nominations must be from Virgin Islands. If a party fails to nominate an arbitrator, the Court will do so. The Court shall also appoint the chairman.All arbitrators shall be and remain "independent" of the parties involved in the arbitration. The place of arbitration shall be fixed by the ICC Court, but the arbitral tribunal may conduct hearings, meetings, and deliberations at any location it considers appropriate. The language of the arbitration shall be English. In deciding the merits of the dispute, the tribunal shall apply the laws of virgin island .
The tribunal shall not assume the powers of amiable compositor or decide the case ex aequo et bono.In the final award, the tribunal shall fix the costs of the arbitration and decide which of the parties shall bear such costs in what proportion. Every award shall be binding on the parties. The parties undertake to carry out the award without delay and waive their right to any form of recourse against the award in so far as such waiver can validly be made.Force Majeure DAO Lescoin is not liable for failure to perform solely caused by:unavoidable casualty, delays in delivery of materials, embargoes, government orders, acts of civil or military authorities, acts by common carriers, emergency conditions (including weather conditions) incompatible with safety or good quality workmanship, or any similar unforeseen event that renders performance commercially implausible. If an event of force majeure occurs, the party injured by the other's inability to perform may elect to suspend the Agreement, in whole or part, for the duration of the force majeure circumstances. The party experiencing the force majeure circumstances shall cooperate with and assist the injured party in all reasonable ways to minimise the impact of force majeure on the injured party.Complete AgreementThese Terms sets forth the entire understanding between each Purchaser and DAO Lescoin with respect to the purchase and sale of LSC .For facts relating to the sale and purchase, the Purchaser agrees to rely only on this document in determining
purchase decisions and understands that this document govern the sale of LSC and supersede any public statements about the DAO Lescoin ICO Sale made by third parties or by DAO Lescoin Team or individuals associated with any DAO Lescoin Parties, past and present and during the DAO Lescoin ICO Sale.SeverabilityThe Purchaser and DAO Lescoin agree that if any portion of these Terms is found illegal or unenforceable, in whole or in part, the Terms will be ineffective solely to the extent of such determination of invalidity 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.No WaiverThe failure of DAO Lescoin to require or enforce strict performance by the Purchaser of any provision of these Terms or DAO Lescoins failure to exercise any right under these agreements shall not be construed as a waiver or relinquishment of DAO Lescoins right to assert or rely upon any such provision or right in that or any other instance.The express waiver by DAO Lescoin of any provision, condition, or requirement of these Terms shall not constitute a waiver of any future obligation to comply with such provision, condition or requirement.Except as expressly and specifically set forth in this these Terms, no representations, statements, consents, waivers, or other acts or omissions by DAO Lescoin shall be deemed a modification of these Terms nor be legally binding, unless documented in physical writing, hand signed by the Purchaser and a duly appointed officer, employee, or agent of DAO Lescoin .Updates to the Terms and Conditions of the DAO Lescoin ICO Sale DAO Lescoin reserves the right, at its sole discretion, to change, modify, add, or remove portions of the Terms at any time during the sale by posting the amended Terms on the DAO Lescoin website (https://lescoin.io/). Any Purchaser will be deemed to have accepted such changes by purchasing LSC .The Terms may not be otherwise amended except in a signed writing executed by both the Purchaser and DAO Lescoin . For purposes of this agreement, "writing" does not include an e-mail message and a signature does not include an electronic signature.If at any point you do not agree to any portion of the then-current version of the Terms, you should not purchase LSC .To the extent the Terms conflict with the LSC Product Purchase Agreement, the Terms shall govern.Cooperation with Legal AuthoritiesFundRequest will cooperate with all law enforcement inquiries, subpoenas, or requests provided they are fully supported and documented by the law in the relevant jurisdictions. In accord with one of the core principles of the FundRequest project — transparency — DAO Lescoin will endeavour to publish any legal inquiries upon receipt.
the User is not a citizen or resident of a geographic area in which access to or use of the cryptocurrency or digital tokens is prohibited by applicable law, decree, regulation, treaty, or administrative act; the User is not a citizen or resident of, or located in United States, and do not have a primary residence or domicile in the United States; the User is not a citizen or resident of, or located in Singapore, and do not have a primary residence or domicile in Singapore; (vii) the User do not intend to hinder, delay or defraud the KICKICO or any other users of the DAO Lescoin Platform or engage in any illegal conduct and or unlawful activity in relation to money laundering, receiving the proceeds of drug trafficking or terrorist activities; receiving the proceeds of criminal activities, terrorist activities or trading with such countries as might from time to time be subject to any embargo imposed by the Security Council of the United Nations, the European Union, or Singapore or in any place of the world.
Further Information For further information regarding the LSC sale, please contact Support@lescoin.io
2017, Blockchain project LESCOIN
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Blockchain or block chain - is a continuously growing list of records, called blocks, which are linked and secured using cryptography.Each block contains typically a hash pointer as a link to a previous block, a timestamp and transaction data. By design, blockchains are inherently resistant to modification of the data. A blockchain is "an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way. For use as a distributed ledger a blockchain is typically managed by a peer-to-peer network collectively adhering to a protocol for validating new blocks. Once recorded, the data in any given block cannot be altered retroactively without the alteration of all subsequent blocks, which needs a collusion of the network majority.
Blockchains are secure by design and are an example of a distributed computing system with high Byzantine fault tolerance. Decentralized consensus has therefore been achieved with a blockchain. This makes blockchains potentially suitable for the recording of events, medical records, and other records management activities, such as identity management, transaction processing, documenting provenance, or food traceability.
The first blockchain was conceptualised by Satoshi Nakamoto in 2008 and implemented the following year as a core component of the digital currency bitcoin, where it serves as the public ledger for all transactions. The invention of the blockchain for bitcoin made it the first digital currency to solve the double spending problem, without the use of a trusted authority or central server. The bitcoin design has been the inspiration for other applications.
A blockchain facilitates secure online transactions. A blockchain is a decentralized and distributed digital ledger that is used to record transactions across many computers so that the record cannot be altered retroactively without the alteration of all subsequent blocks and the collusion of the network. This allows the participants to verify and audit transactions inexpensively. They are authenticated by mass collaboration powered by collective self-interests. The result is a robust workflow where participants' uncertainty regarding data security is marginal. The use of a blockchain removes the characteristic of infinite reproducibility from a digital asset. It confirms that each unit of value was transferred only once, solving the long-standing problem of double spending. Blockchains have been described as a value-exchange protocol. This blockchain-based exchange of value can be completed more quickly, more safely and more cheaply than with traditional systems. A blockchain can assign title rights because it provides a record that compels offer and acceptance.
A blockchain database consists of two kinds of records: transactions and blocks. Blocks hold batches of valid transactions that are hashed and encoded into a Merkle tree. Each block includes the hash of the prior block in the blockchain, linking the two. Variants of this format were used previously, for example in Git. The format is not by itself sufficient to qualify as a blockchain. The linked blocks form a chain. This iterative process confirms the integrity of the previous block, all the way back to the original genesis block. Some blockchains create a new block as frequently as every five seconds. As blockchains age they are said to grow in height.
Bitcoin - is a worldwide cryptocurrency and digital payment system called the first decentralized digital currency, since the system works without a central repository or single administrator. It was invented by an unknown programmer, or a group of programmers, under the name Satoshi Nakamoto and released as open-source software in 2009. The system is peer-to-peer, and transactions take place between users directly, without an intermediary.These transactions are verified by network nodes and recorded in a public distributed ledger called a blockchain.
Besides being created as a reward for mining, bitcoin can be exchanged for other currencies, products, and services. As of February 2015, over 100,000 merchants and vendors accepted bitcoin as payment. Bitcoin can also be held as an investment. According to research produced by Cambridge University in 2017, there are 2.9 to 5.8 million unique users using a cryptocurrency wallet, most of them using bitcoin. On 1 August 2017 bitcoin split into two derivative digital currencies, the classic bitcoin (BTC) and the Bitcoin Cash (BCH).
Cryptocurrency - is a digital asset designed to work as a medium of exchange using cryptography to secure the transactions and to control the creation of additional units of the currency. Cryptocurrencies are classified as a subset of digital currencies and are also classified as a subset of alternative currencies and virtual currencies.
Bitcoin became the first decentralized cryptocurrency in 2009. Since then, numerous cryptocurrencies have been created. These are frequently called altcoins, as a blend of bitcoin alternative. Bitcoin and its derivatives use decentralized control as opposed to centralized electronic money/centralized banking systems. The decentralized control is related to the use of bitcoin's blockchain transaction database in the role of a distributed ledger.
Decentralized cryptocurrency is produced by the entire cryptocurrency system collectively, at a rate which is defined when the system is created and which is publicly known. In centralized banking and economic systems such as the Federal Reserve System, corporate boards or governments control the supply of currency by printing units of fiat money or demanding additions to digital banking ledgers. In case of decentralized cryptocurrency, companies or governments cannot produce new units, and have not so far provided backing for other firms, banks or corporate entities which hold asset value measured in it. The underlying technical system upon which decentralized cryptocurrencies are based was created by the group or individual known as Satoshi Nakamoto.
As of March 2015, hundreds of cryptocurrency specifications exist; most are similar to and derived from the first fully implemented decentralized cryptocurrency, bitcoin. Within cryptocurrency systems the safety, integrity and balance of ledgers is maintained by a community of mutually distrustful parties referred to as miners: members of the general public using their computers to help validate and timestamp transactions adding them to the ledger in accordance with a particular timestamping scheme.The security of cryptocurrency ledgers is based on the assumption that the majority of miners are honestly trying to maintain the ledger, having financial incentive to do so.
Most cryptocurrencies are designed to gradually decrease production of currency, placing an ultimate cap on the total amount of currency that will ever be in circulation, mimicking precious metals. Compared with ordinary currencies held by financial institutions or kept as cash on hand, cryptocurrencies can be more difficult for seizure by law enforcement. This difficulty is derived from leveraging cryptographic technologies. A primary example of this new challenge for law enforcement comes from the Silk Road case, where Ulbricht's bitcoin stash "was held separately and ... encrypted." Cryptocurrencies such as bitcoin are pseudonymous, though additions such as Zerocoin have been suggested, which would allow for true anonymity.
Futures contract - is a standardized forward contract, a legal agreement to buy or sell something at a predetermined price at a specified time in the future. The asset transacted is usually a commodity or financial instrument and the transaction is usually done on the trading floor of a futures exchange. The predetermined price the parties agree to buy and sell the asset for is known as the forward price. The specified time in the future -- which is when delivery and payment occur -- is known as the delivery date. Because it is a function of an underlying asset, a futures contract is a derivative product.
Contracts are negotiated at futures exchanges, which act as a marketplace between buyers and sellers. The buyer of a contract is said to be long position holder, and the selling party is said to be short position holder. As both parties risk their counter-party walking away if the price goes against them, the contract may involve both parties lodging a margin of the value of the contract with a mutually trusted third party. For example, in gold futures trading, the margin varies between 2% and 20% depending on the volatility of the spot market.
The original use of futures contracts was to mitigate the risk of price or exchange rate movements by allowing parties to fix prices or rates in advance for future transactions. This could be advantageous when (for example) a party expects to receive payment in foreign currency in the future, and wishes to guard against an unfavorable movement of the currency in the interval before payment is received.
Investor - allocates capital with the expectation of a future financial return. Types of investments include: equity, debt securities, real estate, currency, commodity, token, derivatives such as put and call options, futures, forwards, etc. This definition makes no distinction between those in the primary and secondary markets. That is, someone who provides a business with capital and someone who buys a stock are both investors.
Smart contract - is a computer protocol intended to facilitate, verify, or enforce the negotiation or performance of a contract .
Dividend - is a payment made by a corporation to its shareholders, usually as a distribution of profits. When a corporation earns a profit or surplus, the corporation is able to re-invest the profit in the business (called retained earnings) and pay a proportion of the profit as a dividend to shareholders. Distribution to shareholders may be in cash (usually a deposit into a bank account) or, if the corporation has a dividend reinvestment plan, the amount can be paid by the issue of further shares or share repurchase.
A dividend is allocated as a fixed amount per share, with shareholders receiving a dividend in proportion to their shareholding. For the joint-stock company, paying dividends is not an expense; rather, it is the division of after tax profits among shareholders. Retained earnings (profits that have not been distributed as dividends) are shown in the shareholders' equity section on the company's balance sheet – the same as its issued share capital. Public companies usually pay dividends on a fixed schedule, but may declare a dividend at any time, sometimes called a special dividend to distinguish it from the fixed schedule dividends. Cooperatives, on the other hand, allocate dividends according to members' activity, so their dividends are often considered to be a pre-tax expense.
Ethereum - is an open-source, public, blockchain-based distributed computing platform featuring smart contract (scripting) functionality. It provides a decentralized Turing-complete virtual machine, the Ethereum Virtual Machine (EVM), which can execute scripts using an international network of public nodes. Ethereum also provides a cryptocurrency token called "ether", which can be transferred between accounts and used to compensate participant nodes for computations performed.