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LENDINGSTAR CROWDSALE TERMS
AND CONDITIONS

1. INTRODUCTION

1.1. These Terms govern the Crowdsale of LSTs, which will be used to facilitate the transactions on the LSX.

1.2. The LSX will be connected to various types of online cryptographic asset trading platforms.

1.3. LSTs may be traded for and against various types of cryptographic currencies, including Bitcoin and Ether.

1.4 LST is not intended to constitute a security in any jurisdiction. These Terms and any other documents relating or in connection with the LST shall not be construed as a solicitation for investment and does not pertain in any way to an offering of securities in any jurisdiction.

PLEASE READ THESE TERMS CAREFULLY BEFORE PARTICPATING IN CROWDSALE.

1.5 Your access and use of the Crowdsale platforms or LendingStar’s websites constitutes your agreement to be bound by these Terms, which establishes a contractual relationship between you and us. If you do not agree to these Terms, you may not access or use the Crowdsale platforms and LendingStar’s websites and participate at the Crowdsale. These Terms expressly supersede prior agreements or arrangements with you. LendingStar may at its absolute discretion, immediately terminate these Terms or any transactions in relation to you, or generally cease offering or deny access to you the Crowdsale platforms or LendingStar’s websites or any portion thereof, at any time for any reason.

1.6 Your access to the LendingStar’s websites is subject to the LendingStar’s Privacy and Data Protection Policy, Personal Data Protection Act 2012 (PDPA), notices, disclaimers and any other related documents, which can be found at: https://lendingstar.com.

1.7 We may, at our absolute discretion, amend these Terms or other terms relating to the Crowdsale from time to time. Amendments will be effective upon LendingStar’s posting of such updated Terms and other terms at this location or the applicable websites. Your continued access or use of the Crowdsale platforms or LendingStar’s websites after such posting constitutes your consent to be bound by the Terms and such other terms and conditions, as amended.

1.8 To the extent possible we choose to carry out all transactions by means of electronic communication in accordance with the Singapore Electronic Transactions Act (Cap. 88) and such other rules and regulations relating to the same subject matter. You consent to use electronic means to form, or agree, or agree to, or bind you to, legal obligations. Therefore, where you indicate through electronic means your agreement to, or acceptance of, terms and conditions, offers and other documents, you will be taken to have agreed to, or signed them.

1.9 You agree that in the event we are required, by law or otherwise, to provide you with any form of documentation, you consent to the provision of that document electronically through the links on this website or any other means we choose to use. Paper documents may no longer be given to you and hence you acknowledge that you have the obligation to regularly check your email, messages or alerts, your LendingStar Marketplace account, text messages and this website for such documents. You may withdraw your consent to the receiving of such documents by electronic means at any time by emailing us at support@Lendingstar.com. We suggest that you print a copy of the document, or file it electronically, for future reference.

1.10 To access the Crowdsale and/or the LendingStar’s websites, you will also need to agree to receive notices, information and other disclosures in electronic form. We carry out all transactions by means of electronic communication in accordance with the Singapore Electronic Transactions Act (Cap. 88) and such other rules and regulations relating to the same subject matter.

You also consent to receive notices, information and other disclosures in electronic form we choose to use through the links on the LendingStar websites or any other means.

2. DEFINITIONS AND INTERPRETATION

2.1. In these Terms the following words shall have the meanings assigned to them in this clause 2.1, namely:

2.1.1 “Crowdsale” is the sale of LST to Purchasers as contemplated in clause 5;”
2.1.2 “Crowdsale Platforms” means the platforms embedding data into regular Ethereum transactions, on which the LST is purchased, sold or otherwise distributed;
2.1.3 “Digital Wallet” means a software program on blockchain where Bitcoin, Ethers and other cryptographic currencies are stored, which facilitates the sending and/or receiving Bitcoin, Ethers and other cryptocurrencies;
2.1.4 “Exchange Trade Receivables Agreement” or “ETRA” trade receivables purchase agreement refers to a cryptographic token received by an investor upon the investors’ purchase of trade receivables on the LSM. The ETRA can be purchased, sold or otherwise traded in the LSX;
2.1.5 “LendingStar“, “we“, “us“, “our” means LendingStar Pacific Pte Ltd and its related corporations;
2.1.6 “LendingStar Foundation” or “LSF” means to the non-for profit organisation, which offers the services as contemplated in clause 4 below;
2.1.7 “LendingStar Marketplace” means the online marketplace operated by LendingStar, including the LSM and the LSX;
2.1.8 “LS Assets” mean any cryptographic tokens used in the LendingStar marketplace finance, which may include, but are not limited to ETRA;
2.1.9 “LSX” means an online exchange built on the Ethereum blockchain, which facilitates the trading of ETRA;
2.1.10 “LSM” means an online marketplace which facilitates the sale and purchase of trade receivables between businesses and investors;
2.1.11 “LST” means the cryptographic digital token used in the LendingStar Marketplace, which form the subject matter of the Crowdsale;
2.1.12 “Sale Agreement” means the agreement concluded between a Purchaser and LendingStar when the Purchaser purchases LST on the Crowdsale Platforms;
2.1.13 “Terms” means these terms and conditions of the Crowdsale;
2.1.14 “You“, “your” and “Purchaser” refers to any person who purchases the LST.

3. IMPORTANT DISCLAIMER

THESE TERMS AND ANY OTHER DOCUMENT ISSUED IN CONNECTION WITH THE CROWDSALE DO NOT CONSTITUTE A PROSPECTUS OR OFFER DOCUMENT AND ARE NOT INTENDED TO CONSTITUTE AN OFFER OF SECURITIES OR A SOLICITATION FOR INVESTMENT IN SECURITIES IN ANY JURISDICTION.

Please be aware of the following specific risks relating to cryptographic tokens, cryptographic currency and blockchain-based software systems and related services:

3.1 Crowdsale risk

3.1.1 Risks of purchase of LSTs. You may be exposed to the following risks, including but not limited to: inherent risk, loss risk, theft risk, regulatory and compliance risk, miscomprehension risk. By sending Bitcoin or Ether to certain address, you agree that you understand and accept these risks and potential losses without a possibility to restore.
3.1.2 Risks of losing access to LSTs due to loss of a Digital Wallet file or password. LSTs will be stored in a Digital Wallet, which can only be accessed with a password selected by the Purchaser. If a Purchaser of LSTs does not maintain an accurate record of the Purchaser’s password or losses the Digital Wallet, this will lead to the loss of LSTs. As a result, Purchasers must safely store their password and the Digital Wallet in one or more backup locations that are well separated from the primary location. Additionally the password and the Digital Wallet should never be stored together. In order to access one’s LSTs, both the Digital Wallet and the password that the Purchaser entered are required; loss of either, or leakage/theft of both, will lead to the loss of the Purchaser’s LSTs.

3.2 Regulatory and compliance risk

3.2.1 Risks relating to regulatory and compliance requirements. Cryptographic currencies and project financing through cryptographic currencies has been the subject of regulatory scrutiny by various regulatory bodies around the world. LendingStar may need to change its operations in order to comply with applicable law and regulation, and may become subject to licensing requirements. LendingStar could be impacted by one or more regulatory actions or regulatory enforcement, which could impede or limit the ability to continue to develop LendingStar Marketplace and its activities. This uncertainty significantly adds up to risks connected with the acquisition and use of LST. LendingStar will make every effort to adopt its practices to accommodate regulatory needs and changes as they occur.

3.3 Business risk

3.3.1 Risks associated with the development of other platforms like LendingStar. LendingStar is one of a few organisations, companies, and groups, attempting to build a platform for rewarding open-source contributions. It is possible that there may be better technical paradigms from the ones used in the current LendingStar Marketplace. While LendingStar anticipates being a leader in the development of such a platform, competition from these alternative platforms may impact success of the LendingStar’s projects and the ability of LendingStar to operate.
3.3.2 Risks of insufficient interest in the LendingStar Marketplace. It is possible that the LendingStar Marketplace 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 LendingStar Marketplace. Such lack of interest could impact the development of the LendingStar Marketplace. LendingStar has contracted with developers to help build the LendingStar Marketplace and is working with other third-party developers around the world to create an interest in the LendingStar Marketplace. However, it cannot predict the success of its own development efforts or the efforts of other third parties.
3.3.3 Risks that the LendingStar Marketplace may never be completed or released. The Purchaser understands, that while the LendingStar will make reasonable efforts to complete the LendingStar Marketplace, it is possible that an official completed version of the LendingStar Marketplace may not be released and may never be operational.
3.3.4 Risks of dissolution of LendingStar project due to diminishing value of the Ether. All Purchasers will be using Ether as a method of payment in consideration for the purchase of LSTs. It is possible that the value of Ether will drop significantly in the future, depriving LSTs of sufficient resources to continue to operate. In order to guard against this risk, LSTs intend to periodically convert proceeds from the sale of LSTs into fiat currencies instead of Ether. In order to cover the initial costs, LendingStar intends to convert approximately 5000 Ether to fiat after the Crowdsale reached its threshold.
3.3.5 Risks of low or no liquidity. Even though there are currently available services, which enable the exchange of cryptographic tokens and/or currencies between themselves, and for fiat money, there are no warranties and/or guarantees that LSTs will be listed or made available for exchange for other cryptographic tokens, currencies and/or fiat money, and no warranties and/or guarantees are given in relation to the capacity and volume of such potential exchange. It shall be explicitly cautioned, that such exchange services may be might be subject to highly uncertain regulatory oversight, and hence LendingStar does not give any warranties and/or guarantees in regard to any exchange services providers. Such exchange services users may be exposed to fraud and failure. In any case, LendingStar may not be able to exchange LSTs for other cryptographic tokens, currencies or for fiat currency. In light of the foregoing, exchange services users may not at any given time be able to acquire or dispose of LSTs.
3.3.6 Risks of loss of value. The value of LSTs may fluctuate and their users might suffer loss in value of such acquired LSTs.
3.3.7 Risks of uninsured losses. LSTs are unlike bank accounts or accounts at some other financial institutions, and are entirely uninsured.
3.3.8 Risks of insufficient funds. It is possible that even if the Crowdsale threshold is met, there may be insufficient funds to feasibly develop LSX, thereby potentially resulting in Purchaser’s inability to utilise LSTs. Purchasers acknowledge that he or she understands that while every effort will be made to develop LSX, it is possible that it will never be realized.

3.4 Technology risk

3.4.1 Risks of using third party platforms. The LendingStar software itself utilizes third-party platforms: the Ethereum blockchain and Microsoft Azure Cloud infrastructure. There is a risk that, as an open source project, any changes to the Ethereum blockchain could introduce weaknesses or bugs into the Ethereum blockchain, thereby causing the loss of LST in one or more or even all of the Purchasers’ accounts. LendingStar reserves the right, in its absolute discretion, to use other blockchain providers where in its opinion is feasible, practical, and/or necessary.
3.4.2 Risks that the LendingStar Marketplace and/or LST, as developed, will not meet the expectations of Purchaser. The Purchaser recognises that the LendingStar Marketplace is presently under development and may undergo significant changes before release. Purchaser acknowledges that any expectations regarding the form and functionality of the LendingStar Marketplace and/or LST as purchased by the Purchaser may not be met upon release of the LendingStar Marketplace, for any number of reasons including but not limited to a change in the design and implementation plans and execution of the implementation of the LendingStar Marketplace.
3.4.3 Risks of rapid adoption and insufficiency of computational application processing power on the LendingStar network. If the LendingStar Marketplace and/or LST is adopted rapidly, the demand for transaction processing could rise dramatically and at a pace that exceeds the supporting rate. Under such scenario, the entire LendingStar Marketplace and/or LST could potentially become unstable.
3.4.4 Risks of internet transmission. You acknowledge that there are risks associated with using the LST including, but not limited to, the failure of hardware, software, and Internet connections. You acknowledge that LendingStar shall not be responsible for any communication failures, disruptions, errors, distortions or delays you may experience when using the Website and LST tokens, howsoever caused.
3.4.5 Risks of untested technology. Cryptographic currencies and blockchain are new and untested technology. In addition to the risks set forth here, there are risks that LendingStar is unable to foresee and it is unreasonable to believe that such risks could have been foreseeable.

3.5 Risk of hackers attack

3.5.1 Risks of cyber-attacks. The field of digital cryptography is very new and for this reason there is a risk of unforeseen attacks, both in terms of the underlying cryptographic protocol that underpins the functionality of LendingStar software, as well as ‘game theory’ related vectors which have not all been documented to date. Both these vectors represent a risk that could lead to the loss of LSTs in one or more or even all of the stakeholder accounts.
3.5.2 Risks of Ether mining attacks. As with other cryptographic currencies, Ethereum, which the LSX is built on, 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 attacks present a risk to the operation of the LendingStar Marketplace and/or LSTs.
3.5.3 Risks of weaknesses or exploitable breakthroughs in the field of cryptography. The development in code cracking, or technical advances such as the development of quantum computers, could present risks to cryptographic currencies and the LendingStar Marketplace and/or LST, which among others could potentially result in the theft or otherwise loss of Ether and/or LST. To the extent possible, LendingStar intends, but does not represent nor warrant that it shall update the protocol underlying the LendingStar Marketplace and/or LST to account for any advances in cryptography and to incorporate additional security measures.
3.5.4 Risks of unauthorized access to a Digital Wallet. Purchasers are aware and acknowledge that any third party that gains access to the Purchaser’s Digital Wallet may potentially access the Digital Wallet by deciphering or cracking the Purchaser’s password. To guard against any improper access to the Digital Wallet, the Purchaser should select a highly secure password for the Digital Wallet. Purchaser must take care not to respond to any inquiry regarding their purchase of LSTs, including but not limited to, email requests purportedly coming from LendingStar.

4. LENDINGSTAR FOUNDATION

4.1. LendingStar intends to incorporate Lendingstar Foundation (“LSF“), a non-for-profit entity wholly-owned by LendingStar. LSF will issue, manage, control, distribute and regulate the amount of LST, which will be available for circulation in the LendingStar Marketplace and manage and control all proceeds from the Crowdsale. The features and/or purposes of LSF will be facilitate the following:

4.1.1 Purchasers will be able to purchase, sell or otherwise trade LSTs with LSF;
4.1.2 LSF may from time to time, at its absolute discretion, destroy a certain amount of LSTs it has in its possession to control the number of LST in circulation in LendingStar Marketplace. Purchasers aware and acknowledge that this will have an effect on the supply of LSTs, which may result in the increased value of LST.

4.2. LSF and LendingStar Marketplace will be connected to the blockchain and will therefore be open to online audits, reviews and compliance checks from the integrated blockchain community from time to time.

5. THE CROWDSALE

Objective

5.1. Subject to these Terms, the value proceeds of the Crowdsale is intended to be used to further scientific research and development and advancement of the LendingStar Marketplace, to develop LendingStar network ecosystem and the education of the blockchain technologies to the public at large. For the avoidance of doubt, the foregoing is intended as our statement of intent only and accordingly shall not be construed as constituting a promise, representation or warranty as to our future conduct or imposing on us any obligation, and nothing express of implied in the foregoing shall be intended to create a legal relation whatsoever.LSTs

5.2 LSTs are to be used to facilitate the LSM and LSX. LSTs give the right to carry out operations and/or activities on the LSM and LSX. The number of LSTs required for each operation and/or activity on the LSM and LSX shall be determined by the method of computation to be determined LendingStar at its sole and absolute discretion from time to time, including by way of proportion to the amount of the operation converted to LSTs at the prevailing exchange rate between LSTs and Ether.

5.3 Purchase, ownership, receipt or possession of LST carries no rights, express or implied, other than the right to use LST as specified under these Terms. In particular, you understand and accept that LSTs (i) do not represent or confer any ownership right or stake, share, security, or equivalent rights, or any right to receive future revenue shares, intellectual property rights or otherwise, or any other form of participation in or relating to the LendingStar Marketplace and/or LendingStar and/or otherwise, and (ii) only carry rights relating to the use in the LendingStar Marketplace, subject to limitations and conditions in these Terms. LSTs are not and are not intended to be a digital currency, security, commodity or any kind of financial instrument.

Amount of LST

5.3. Only 100,000,000 (one hundred million) LSTs will be created for circulation in the LendingStar marketplaces as follows:

5.3.1. up to 70,000,000 (seventy million) LSTs during the Crowdsale for Purchasers to purchase; and
5.3.2. 30,000,000 (thirty million) or more LSTs to LendingStar, or any one of its affiliated platforms, which may be used for any other purpose as determined by LendingStar at its absolute discretion which may include but not limited to the creation of awareness campaigns, promotions and promotion related activities related to LendingStar business and development projects in respect of the LendingStar Marketplace.

Duration of the Crowdsale

5.4. The Crowdsale is divided into two phases: presale and public crowdsale (the Crowdsale). Presale will start at 25.10.2017 and runs until 9th of December 2017. The Crowdsale will run for 30 (thirty) days, starting from January 2018 (exact date will be announced).
5.5. LendingStar reserves the right to change the particulars of the Crowdsale, including but not limited to the right to extend the sale duration for any reason whatsoever, including the unavailability of the LendingStar website or other unforeseen security or procedural issues.

Valuation of LST during the Crowdsale

5.6. During the first 5 (five) days of the Crowdsale, 1 (one) ETH will entitle a Purchaser to receive 1,000 (one thousand) LST.
5.7. After the first 5 (five) days the Crowdsale, the value of LSTs shall increase periodically as illustrated by the following:

 

Crowdsale time blocks LST for ETH Exchange Rate
Day 1 – 5 1 ETH = 1,000 LST
Day 6 – 10 1 ETH = 900 LST
Day 11 – 15 1 ETH = 800 LST
Day 16 – 20 1 ETH = 700 LST
Day 21 – 25 1 ETH = 600 LST
Day 26 – 30 1 ETH = 500 LST

 

5.8 LendingStar reserves the right to change the LST price and valuation before or during the Crowdsale. All changes will be published at the Crowdsale website https://crowdsale.lendingstar.com and social media channels.
5.9 Purchaser will be able to purchase only the whole number of LST tokens. All fractional numbers will be rounded.
5.10 All crypto currencies received after closing an appropriate time block, will be allocated to the next time block according to the clause 5.7.

ICO Portal

5.11. The Crowdsale will be conducted by LendingStar or one of its affiliates, through the following managed website at https://crowdsale.lendingstar.com and/or via other Crowdsale Platforms, which shall be announced.

Protection of LSTs purchased during the crowdsale

5.12. Each Purchaser will store LSTs purchased during the Crowdsale and received within 2 months after the Crowdsale in a Digital Wallet.

LST Tokens Distribution

5.13. All LSTs purchased during the Crowdsale will be distributed within 60 days after the closing date of the Crowdsale.

Fraudulent attempts to double spend LST

5.14. LendingStar and its affiliates will monitor all potential transactions for fraudulent attempts to double spend the ETH. Any detected double spend of ETH will result in no LSTs being sold to the associated blockchain or Digital Wallet address, as the case may be.

6. ACCEPTANCE

6.1. As a first step in the purchase process, you will be presented with, among others, these Terms, the Sale Agreement and associated documents, along with an “I Agree” button. By clicking the “I Agree” button, the Purchaser:

6.1.1 agrees to these Terms and the Sale Agreement;
6.1.2 represents and warrants that the Purchaser is legally permitted to purchase LSTs in the Purchaser’s jurisdiction and is legally permitted to receive LSTs or otherwise such similar products of Singapore origin;
6.1.3 represents and warrants that the Purchaser is of a sufficient age to legally purchase LSTs or otherwise has received permission from a legal guardian who has reviewed and agreed to these Terms and the Sale Agreement;
6.1.4 represents and warrants that the Purchaser will take sole responsibility for any restrictions and risks associated with the purchase of LSTs as set forth in these Terms and the Sale Agreement;
6.1.5 represents and warrants that the Purchaser is not exchanging ETH or any currency (fiat, cryptographic, or otherwise) for LSTs for the purpose of speculative investment;
6.1.6 represents and warrants that the Purchaser is acquiring LSTs for the purpose of usage at the LSM and/or LSX; and
6.1.7 represents and warrants that the Purchaser has an understanding of the usage and intricacies of blockchain-based assets, such as the LST, and blockchain-based software systems.

6.2. All purchases and prospective purchases and the use of LSTs during this Crowdsale are subject to these Terms, the terms of use and the privacy policy under the LendingStar website as may be amended from time to time.

6.3. Each purchase submitted by you using our or any affiliated party or service provider’s website constitutes an offer to purchase LSTs.

6.4. If you do not agree to these Terms, you should not proceed with placing your order for the purchase of LSTs.

6.5. Failure to follow the instructions provided on our or any affiliated party or service provider’s website may limit, delay, or even prevent you from participating in the Crowdsale.

6.6. We reserve the right to refuse to process any order placed by any Purchaser or any potential Purchaser on our website or any service provider without notice or reason, and particularly where there is suspicious activity or potentially fraudulent, illicit, illegal or related activities suspected.

7. OUR RIGHT TO VARY THESE TERMS

7.1. We may revise these Terms from time to time at our sole and absolute discretion, in the following circumstances:

7.1.1 in the event of change of payment method in relation to the LSTs;
7.1.2 in the event of change of the valuation of LSTs;
7.1.3 in the event of change in the applicable and relevant regulation, which requires us to make changes to these Terms or any aspects of the LendingStar Marketplace or if we are otherwise advised to revise these Terms; or
7.1.4 in the event of any other changes in circumstances that may require changes to our business practices and/or business model, including but not limited to the LendingStar Marketplace or LSTs.

8. LOSS OR DAMAGES

8.1. You hereby agree that we will not be liable for:

8.1.1 any interruption, malfunction, downtime, off-line situation or other failure of any cryptocurrency or virtual currency trading platforms or online services provided by any third parties, including any third party’s system, databases or any of its components;
8.1.2 regulatory compliances measures, notices or actions imposed in terms of clauses 3.2 or 3.3 or any tax liability or otherwise incurred by the Purchaser;
8.1.3 any loss or damage with regard to your data or other data directly or indirectly caused by malfunction of any third party systems, power failures, unlawful access to or theft of data, computer viruses or destructive code on any third party systems or programming defects; and/or
8.1.4 any interruption, malfunction, downtime or other failure of goods or services provided by third parties, including, without limitation, third party systems such as the public switched telecommunication service providers; internet service providers, electricity suppliers, relevant local authorities and certification authorities; or any other event over which we have no direct control.

8.2. IN PARTICULAR, PURCHASERS SHOULD TAKE GREAT CARE IN PROTECTING THEIR DIGITAL WALLET PASSWORDS AND USER ACCOUNT DETAILS, WITHOUT WHICH PURCHASERS WILL NOT BE ABLE TO ACCESS THEIR DIGITAL WALLET AND USE THE LSTs WHICH THEY HAVE PURCHASED/RECEIVED DURING THE CROWDSALE. BY ACCEPTING THESE TERMS, YOU SPECIFICALLY ACKNOWLEDGE THAT YOU UNDERSTAND, ACCEPT AND AGREE THAT LENDINGSTAR OR ANY OF ITS AFFILIATES OR SERVICE PROVIDERS WILL NOT BE REQUIRED OR ABLE TO GRANT YOU ANY TYPE OF PASSWORD RESET OR BACK ENTRY ACCESS TO YOUR USER ACCOUNT AND/OR DIGITAL WALLET AND THAT WITHOUT THE REQUIRED PASSWORDS AND USER ACCOUNT DETAILS YOUR LST TOKENS WILL BE INACCESSIBLE AND BE RENDERED UNUSABLE. FURTHER TO THIS LENDINGSTAR WILL NOT BE LIABLE TO REFUND/REPLACE YOU DUE TO THIS FAILURE FROM YOUR SIDE.

8.3. LendingStar (including its affiliates, directors, employees, agents, contractors and service providers) will not be held liable for any failure to perform any of its obligations, if such failure is caused by circumstances beyond LendingStar’s reasonable control. This includes but not limited to lightning, flood, exceptionally severe weather, fire, explosion, war, civil disorder, industrial disputes, acts or omissions of persons for whom we are not responsible, acts of government or other competent authorities (including telecommunications and internet service providers).

8.4. To the full extent permissible under the law, you indemnify and hold LendingStar (including its affiliates, directors, employees, agents, contractors and service providers) harmless against all and any loss, liability, actions, suits, proceedings, costs, demands and damages of all and every kind, (including direct, indirect, special or consequential damages), and whether in an action based on contract, negligence or any other action, arising out of or in connection with the failure or delay in the performance of the LendingStar Marketplace, or the use of information and/or images available on the LendingStar Marketplace, whether due to LendingStar’s (including its affiliates’, directors’, agents’, contractors’ and service providers’) negligence or not.

9. NON REFUNDABLE PURCHASES

9.1. ALL PURCHASES OF LST TOKENS ARE NON-REFUNDABLE.

9.2. BY PURCHASING OR RECEIVING LST TOKENS, YOU ACKNOWLEDGE THAT NEITHER LENDINGSTAR NOR ANY OF ITS AFFILIATES, ARE REQUIRED TO PROVIDE A REFUND FOR ANY REASON, AND THAT YOU WILL NOT RECEIVE MONEY OR ANY OTHER FORM OF COMPENSATION FOR LST TOKENS THAT IS NOT USED OR NOT SUITABLE FOR ITS INTENDED PURPOSE.

10. NOTIFICATION OF SPECIAL PURPOSE

We will not be liable to you (including but not limited to accepting the return of, or refunding you the purchase price of the underlying LSTs) for your purchase of LSTs if LST Tokens fail to meet any special or particular purpose as intended by you but which do not conform with these Terms and/or the terms and conditions of the LendingStar Marketplace.

11. OWNERSHIP AND RISK

Risk in and the ownership of the LST Tokens will pass to you upon the clicking of the “accept” box.

12. TRANSMISSION AND ACCURACY OF INFORMATION

12.1. We are not responsible for the improper and/or incomplete transmission of the information contained in any electronic communication or of the electronic communication itself nor for any delay in its delivery or receipt.

12.2. Security measures have been implemented to ensure the safety and integrity of any of the services related to the Crowdsale. However, despite this, information that is transmitted over the Internet or blockchain may be susceptible to unlawful access and monitoring.

12.3. We neither represent nor warrant, nor do we give any guarantee in relation to the content of this Crowdsale. In particular, we do not give any warranty (express or implied) or make any representation that LendingStar or any of its affiliates’ services will operate error free or without interruption or that any errors will be corrected or that the content is complete, accurate, up to date, or fit for a particular purpose.

13. DEEMED RULES FOR SENDING AND RECEIVING ELECTRONIC MESSAGES

13.1. You hereby acknowledge that we will primarily use email and electronic notices as main communication tool for all communications relating to any services, or these Terms.

13.2. You hereby agree that these Terms will apply when you (or anyone acting on your behalf) and LendingStar (including its affiliates) send each other electronic messages via any electronic means, including via website notifications or email.

13.3. Where you make any offer to us, such as to purchase LSTs, an agreement is formed at the time that we send you a written acceptance of your offer, or notify you of such acceptance via the LendingStar platform. An automated or manual acknowledgement of receipt of your electronic message shall not be deemed to constitute acceptance.

13.4. All electronic messages will be deemed to have been sent from, and received via LendingStar marketplace notifications, at your specified email address or mobile phone / device and LendingStar address as specified on the LendingStar website.

13.5. An electronic message is deemed to have been sent:

13.5.1. by you, at the time at which we are capable of accessing such message;
13.5.2. by us, at the time shown on the electronic message as having been sent or, if not so shown, at the time shown on our system as having been sent.

13.6. An electronic message is deemed to be received:

13.6.1. by you, once it becomes capable of being retrieved by you;
13.6.2. by us, once we have confirmed receipt thereof or responded thereto, whichever is the earlier.

13.7. An electronic message shall be attributed:

13.7.1. to you, if it purports to have originated from you, irrespective of the fact that someone else may have impersonated you or whether the electronic message sent to us resulted from an error or malfunction in the communication system, except if you can timeously satisfy us otherwise before we have acted upon the message;
13.7.2. to us, if it has been sent by a duly authorized representative and such representative acted within the scope of such authority or by an automated system programmed by us and such system operated without error or malfunction.

13.8. Unless otherwise provided for in these Terms, confirmation of receipt of your electronic message is required to give legal effect to such electronic message.

14. VIRUSES

14.1. We will take reasonable steps to exclude viruses from the LendingStar Marketplace, but cannot guarantee or warrant that any material available for downloading from the LendingStar Marketplace will be free from infection, viruses and/or other code that has contaminating or destructive properties and accordingly no liability is accepted for viruses.

14.2. You are responsible for, and we recommend that you take, your own precautions and implement sufficient procedures to satisfy your particular safety requirements.

15. THIRD PARTY WEBSITES OR PLATFORMS

We may provide certain hyperlinks to third party websites or apps only as a convenience, and the inclusion of any hyperlinks or any advertisement of any third party on the LendingStar website or other platforms does not imply endorsement by us of their websites or apps, their products, business or security practices or any association with its operators. If you access and use any third party websites, apps, products, services, platforms and/or business, you do so solely at your own risk.

16. INTELLECTUAL PROPERTY RIGHTS

16.1. You acknowledge and agree that all right, title and interest in, and to, any intellectual property related to LendingStar or other intellectual property (including but not limited to any copyright, trademark, design, logo, process, practice, or methodology which forms part of, or is displayed or used in the LendingStar marketplaces including, without limitation, any graphics, logos, designs text, button icons, images, audio clips, digital downloads, data compilations, page headers and software) in respect of LendingStar, the LendingStar Marketplaces, website or in any manner related to LendingStar is proprietary to LendingStar or the respective owner(s)’ property and will remain our or the owner’s property at all times.

18.2. You therefore agree that you will not at any time or under any circumstances acquire any rights of any nature in respect of such intellectual property by using the services.

17. WARRANTIES AND REPRESENTATIONS

17.1. We make no representation or warranty, whether express or implied, and assume no liability or responsibility for the proper performance of the any services, online cryptocurrency services, assets or platforms and/or the information, images or audio contained or related to the LendingStar Marketplace. You use all of these services including but not limited to services, online cryptocurrency services, assets or platforms at your own risk.

17.2. Each of the representation and warranty given by you under these Terms will:

17.2.1. be a separate and independent representation and warranty and will in no way be limited or restricted by reference from the terms of any other representation and warranty or by any other words in these Terms and the we shall have a separate claim and right of action in respect of every breach of each representation and warranty;
17.2.2. continue and remain in force irrespective of whether your account is active, suspended or cancelled; and
17.2.3. be deemed to be material.

18. GOVERNING LAW

18.1. These Terms and any matter arising from these Terms, shall be governed by and interpreted in accordance with the laws of Singapore.

18.2. The parties submit all their disputes arising out of or in connection with these Terms, including any question regarding its existence, validity or termination, to the exclusive jurisdiction courts of Singapore.

19. WAIVER

No failure on the part of ours hereto to exercise, and no delay on its part in exercising, any right or remedy under these Terms will operate as a waiver thereof, nor will any single or partial exercise of any right or remedy preclude any other or further exercise of any right or remedy. The rights and remedies provided in these Terms are cumulative and not exclusive of any rights or remedies provided by law.

20. ENQUIRIES

Any questions or concerns arising from these Terms or use of the services should be addressed to support@lendingstar.com

21. NOTICES

For all the purposes of these Terms, any notice required to be in writing shall include by way of email.

22. WHOLE AGREEMENT

These Terms, as may be amended from time to time, sets out the entire agreement and understanding between the yourself and us with respect to its subject matter and supersedes and cancels in all respects all previous agreements, letters, representations, warranties and undertakings, if any, between the parties with respect to the subject matter hereof, whether such be written or oral.

23. NO THIRD PARTY STIPULATION

A person who is not a party to these Terms shall have no rights under the Contracts (Rights of Third Parties) Act (Cap. 53B) to enforce any of its terms.

24. LIMITATION OF LIABILITY AND INDEMNITY

24.1. You agree that we will not be liable for any costs, claims, damages (including, without limitation, indirect, extrinsic, special, penal, punitive, exemplary or consequential loss (such as loss of profits, business, goodwill, revenue or anticipated savings) or damage of any kind), penalties, actions, judgments, suits, expenses, disbursements, fines or otherwise that you or any third party might suffer as a result of in connection with these Terms or your purchase and/or use of LSTs through the LendingStar Marketplace, or termination of these Terms, for any reason, whether foreseeable or otherwise.

24.2. You shall not have any claim of any nature whatsoever against us for any failure by us to carry out any of our obligations under these Terms as a result of causes beyond our control, including but not limited to any strike, lockout, shortage of labour or materials, delays in transport, accidents of any kind, any default or delay by any sub-contractor or supplier of ours, riot, political or civil disturbances, the elements, by an act of state or government including regulatory action imposed as contemplated in clauses 3.2 or 3.3, any delay in securing any permit, consent or approval required by us, for the supply of products under these Terms or any other authority or any other cause whatsoever beyond our absolute and direct control. In addition and without prejudice the foregoing, you acknowledge and recognise that there are inherent risk in relation to the LSTs and/or LendingStar Marketplace, including but not limited to the risks and disclosed under clause 3 of these Terms, and you shall therefore have no claim against us for any costs, claims, damages (including, without limitation, indirect, extrinsic, special, penal, punitive, exemplary or consequential loss (such as loss of profits, business, goodwill, revenue or anticipated savings) or damage of any kind), penalties, actions, judgments, suits, expenses, disbursements, fines or otherwise that you may suffer as a result or in connection with such risk.

24.3. You hereby unconditionally and irrevocably agree to, on demand, indemnify and hold us harmless from and against all and any losses which we may suffer as a result or in connection with these Terms or your purchase and/or use of the LSTs and interaction with the LendingStar Marketplace, including but not limited to any claim that a third party might bring against us.

24.4. The Purchaser also acknowledges and understands that neither LendingStar nor any of its affiliates makes any representations concerning the tax implications of the sale of LSTs or the possession or use of LSTs. The Purchaser bears the sole responsibility to determine if the purchase of LSTs with ETH or any other cryptographic currency, or the potential appreciation or depreciation in the value of LSTs over time, has tax implications for Purchasers in their home jurisdiction. By purchasing LSTs, and to the extent permitted by law, the Purchaser agrees not to hold LendingStar or any of its affiliates liable for any tax liability associated with or arising from the purchase of LSTs.

25. MISCELLANEOUS TERMS

25.1. The illegality, invalidity or unenforceability of any provision of these Terms under the law of any jurisdiction shall not affect its legality, validity or enforceability under the law of any other jurisdiction nor the legality, validity or enforceability of any other provision.