The LoveChain Pre IEO LOV Token Policy
(a) the purchase of The LoveChain’s LOV Tokens prior to The LoveChain undertaking an Initial Exchange Offering (“IEO”); and
(b) the use of the LOV Tokens on The LoveChain Platform, (“Terms”).
1.2 Please read these terms and The LoveChain LOV Token Policy carefully before you purchase or utilise the LOV Tokens. These terms will explain the key features of the LOV Tokens, how you can purchase them from the Platform, how we may change the LOV Token features and these terms and what to do if there is a problem, along with other important information. If you think that there is a mistake in these terms or require any changes, please contact us to discuss. We recommend that you print a copy of the Terms for future reference.
1.3 If you do not agree to these Terms or are not permitted to do so for any reason, you must not use the Platform or The LoveChain website or App.
1.4 “Writing” includes emails and via The LoveChain website or App. When we use the words “writing” or “written” in these terms, this includes emails and communication via The LoveChain website or App.
- The LoveChain LOV Token Policy and other policies
These Terms and Policy are to be read in conjunction with The LoveChain LOV Token Policy as many of the terms in that policy apply to the way you hold and use the LOV Tokens, in particular clauses 10, 12 to 18, 20 and 22 to 26.
Further, terms and words that are defined in these Terms and Policy but a definition is not provided for, then the definition will appear in The LoveChain LOV Token Policy.
- What is a LOV Token?
3.1 A LOV Token is a crypto token/cryptocurrency with a unit of value registered on the Exchange used by The LoveChain or a User that owns LOV Tokens.
3.2 You can use your LOV Tokens to purchase certain products and services on The LoveChain Platform and within The LoveChain’s marketplace.
3.3 The LOV Tokens are designed to be used on The LoveChain’s Platform only.
3.4 The LOV Tokens are not a means of investment or meant to be construed as income.
3.5 There will be a maximum number of 535 million LOV Tokens that will be issued during the lifetime of The LoveChain Platform.
- How can I get LOV Tokens?
You can get LOV Tokens in the following ways by buying LOV Tokens from:
(a) The LoveChain Platform, The LoveChain Website or The LoveChain App in exchange for Fiat Currency (e.g. USD ($), AUD ($), GBP (£), Euros (€), etc.) prior to The LoveChain undertaking an IEO;
(b) The LoveChain that are or are to be listed on an Exchange as part of an IEO. For more information on this process please visit The LoveChain LOV Token Policy; or
(c) a third party in which the LOV Tokens may or may not be listed on an Exchange.
- LOV Token purchase process – Pre IEO
5.1 Order and acceptance.
(a) A User can purchase LOV Tokens prior to the Initial Exchange Offering (“IEO”) on an Exchange through The LoveChain website at www.thelovechain.io. In order to ensure a smooth purchase process of LOV Tokens prior to the Initial Exchange Offering, The LoveChain requires Users to apply for LOV Tokens by completing and submitting an Application to Purchase LOV Tokens. The LoveChain will review and approve an Application that has been submitted and reserves the right to request further information about an applicant to be provided if it deems it necessary. The LoveChain will need to review and approve any information requested before you can place a Token Order. If you do not give us this information, or if you give us incomplete or incorrect information, you will not be able to place a Token Order. We will not be responsible for providing the Tokens late or not delivering any part of them if this is caused by you not giving us the information we need when we ask for it. Please note that it may take around 48 hours (and in some cases longer, depending on the number of LOV Tokens you wish to purchase) to request and review any information required.
(b) Once The LoveChain has confirmed that you have passed our compliance checks, you will be able to place a Token Order.
(c) The Token Order shall constitute an offer by the User to purchase the LOV Tokens in accordance with these terms and conditions. The User is responsible for ensuring that the terms of the Token Order such as the number of LOV Tokens to be purchased and the total price the User will pay for the Tokens are complete and accurate.
(d) The Token Order shall only be deemed to be accepted when The LoveChain issues a written acceptance of the Token Order, which will be as a notification via your account on the Platform, The LoveChain App or a confirmation email, at which point a contract shall come into existence. You will receive notification to confirm that your payment for the LOV Tokens has been received.
(e) The User waives any right it might otherwise have to rely on any term endorsed upon, delivered with or contained in any documents of the User that is inconsistent with these terms and conditions.
(f) A quotation of the total price for the LOV Tokens shown on The LoveChain App or The LoveChain Website shall not constitute an offer by The LoveChain.
(g) If we are unable to accept your Token Order, we will inform you of this in writing and will not charge you for the LOV Tokens. This might be because the LOV Tokens are out of supply, because you have not passed our background checks or because we have identified an error in the price or description of the LOV Tokens.
5.2 Restricted countries
5.2.1 The LoveChain recognises that certain jurisdictions, such as the People’s Republic of China or the United States of America (a Restricted Country), do not allow the public trading of cryptocurrencies due to regulatory concerns. If you are a national, citizen or a permanent resident of a Restricted Country, then it is illegal for you to purchase, trade or deal in LOV Tokens or any other form of cryptocurrency and you are forbidden to purchase, trade or deal in LOV Tokens via The LoveChain Platform or website or any cryptocurrency digital exchange.
5.2.2 The LoveChain maintains that the LOV Tokens are not marketed as, held out to be, or utilised, as security tokens or investment products on The LoveChain Platform or otherwise, and therefore The LoveChain does not prohibit residents of a Restricted Country from using The LoveChain Platform, The LoveChain App or purchasing LOV Tokens.
5.2.3 If you are:
(a) a resident of a Restricted Country; and
(b) are advised or informed that the governing laws of that jurisdiction prohibit you from being a User on The LoveChain Platform, The LoveChain App or to purchase or hold LOV Tokens or any form of cryptocurrencies or trade on the Exchange by either:
(i) a lawyer qualified in the Restricted Country; or
(ii) a governing authority of the Restricted Country, then you must inform us immediately in order that we may take the necessary steps pursuant to clause 5.2.4.
5.2.4 If at any time, The LoveChain is advised or believes that a resident of Restricted Country should not be registered as a User on the on The LoveChain Platform, The LoveChain App or to purchase or hold LOV Tokens or any form of cryptocurrencies or trade on the Exchange as a result of regulatory issues in the Restricted Country, we will take the appropriate steps to deregister Users from Restricted Countries from The LoveChain Platform and we will notify the Exchange on which they hold the LOV Tokens. Should this occur, Users shall not be entitled to a refund of any LOV Tokens they have purchased.
5.2.5 We may update our policy regarding the use of the The LoveChain Platform, The LoveChain App and the LOV Tokens by residents of a Restricted Country depending on how the Applicable Laws in that jurisdiction develop from time to time, however we have no obligation to change our policies.
5.2.6 By purchasing LOV Tokens you warrant that you are a national, citizen or permanent resident of a country in which it isn’t illegal to purchase, trade or deal in LOV Tokens or any other form of cryptocurrency. Should later it be discovered that you are a national, citizen or a permanent resident of a country in which it is illegal for you to purchase, trade or deal in LOV Tokens or any form of cryptocurrency then you agree to indemnify The LoveChain from all fines, damages, legal or enforcement actions, prosecution that The LoveChain may face as a result of your illegal activity.
- What is the price / value of the LOV Tokens?
Pre IEO – Pre Sale Price
6.1 When the LOV Tokens are purchased prior to an IEO, the pre-sale purchase price for a LOV Token is as follows:
|$USD Amount Paid||Price per LOV Token|
6.2 The total price of the LOV Tokens you wish to purchase will be displayed on The LoveChain App when you select the ‘Buy Tokens’ button and calculated as follows:
(i) N x P = Total price;
(ii) Where N = number of Tokens you wish to purchase;
(iii) P = Price per Token as set out in clause 6.1.
6.3 The LoveChain may, at its sole and absolute discretion, by giving notice to the User at any time, increase the price per LOV Token to reflect any increase in the cost of operating The LoveChain Platform or business or for any other commercial reason. If The LoveChain increases the price per LOV Token after you have confirmed your purchase, the increase will only apply to the next purchase of LOV Tokens that you undertake.
6.4 If applicable, the price per LOV Token excludes the cost of any value added tax or any sales taxes or levies under any Applicable Laws.
6.5 You will need to pay for the LOV Tokens before they are delivered to your Wallet.
6.6 You will need to pay for all amounts due for each LOV Token purchase in full without any set-off, counterclaim, deduction or withholding (except for any deduction or withholding required by law).
6.7 Once a User purchases LOV Tokens such purchase is final without any cooling-off period and all payments are non-refundable. However, in the event The LoveChain fails to deliver the LOV Tokens to your Wallet within 10 Business Days due to a fault of The LoveChain, then the User will be entitled to a full refund and will not receive the LOV Tokens.
6.8 The LoveChain may at any time, without limiting any other rights or remedies it may have, set off any amount owing to it by you against any amount payable by The LoveChain to you. For example, where The LoveChain intends to reward you with LOV Tokens pursuant to these Terms, we may instead provide you with credit in Fiat Currency, which can be utilised within a period of time, for your next purchase of LOV Tokens.
6.9 Invoice and delivery by download.
(a) The LoveChain shall ensure that each delivery of the LOV Tokens to your Wallet is accompanied by an invoice by email that shows the date of the LOV Token Order, the type and quantity of the LOV Tokens (including the code number of the LOV Tokens, where applicable), the price per LOV Token and the total price of the LOV Tokens.
(b) Delivery of the LOV Tokens is completed when you select to ‘Download’ the purchased LOV Tokens to your Wallet and it is updated with the new number of LOV Tokens in your possession. The LOV Tokens you purchased should arrive in your Wallet within 3 Business Days from the date you select ‘Download’.
(c) The LoveChain will make the LOV Tokens available to download to your Wallet as soon as you have made payment for them.
(d) We are not responsible for delays outside our control. If the download of the LOV Tokens to your Wallet is delayed by an event outside our control (Force Majeure Event) then we will contact you as soon as possible to let you know and we will take steps to minimise the effect of the delay. Provided we do this we will not be liable for delays caused by the event, but if there is a risk of substantial delay you may contact us to end the Contract and receive a refund for any LOV Tokens you have paid for but not received.
(e) If The LoveChain fails to deliver the LOV Tokens to your Wallet within 10 Business Days due to a fault of The LoveChain, then The LoveChain’s liability shall be limited to the price of the LOV Tokens at the time of purchase only. The LoveChain shall have no liability for any failure to deliver the Tokens to the extent that:
(i) such failure is caused by a Force Majeure Event;
(ii) you breach the Terms to such extent that The LoveChain exercises its right to terminate the Terms and / or suspend your Account;
(iii) you fail to maintain yourself as a User; or
(iv) the security on your device is compromised.
Title to the LOV Tokens – Pre IEO
6.10 Title to the LOV Tokens shall not pass to you until The LoveChain receives payment in full (in cash or cleared funds) for the LOV Tokens and you receive the LOV Tokens in your wallet.
- Background checks
7.1 The LoveChain has the right (if deemed necessary) to request certain background information, such as proof of identification, proof of address and proof of origin of funds from you before agreeing to accept a LOV Token Order.
7.2 The LoveChain is entitled to take up to 48 hours to review the information and documentation you provide before agreeing to process any LOV Token Order. If we have any questions regarding the information you provided or require further information, then we will require you to provide the necessary responses or information before we agree to accept the LOV Token Order.
7.3 The LoveChain will normally make such requests in circumstances where you wish to purchase LOV Tokens, in a single transaction or a series of transactions taking place within 7 days of each other, in an amount which is equal to or higher than $500.
- No Refunds
The purchase of LOV Tokens is non-refundable and there is no cooling-off period after your purchase. However, once you have purchased your LOV Tokens you are able to sell them to a third party through the Exchange that the LOV Tokens are listed on.
- What are LOVR Rewards Tokens and how can I get some?
9.1 A LOVR Reward Token (“LOVR Tokens”) is an internal token for the purposes of The LoveChain’s rewards program that has a unit of value that can be used by a User to purchase products and services on The LoveChain Platform and within The LoveChain’s marketplace.
9.2 You can accumulate LOVR Tokens in the following ways:
- Based on a Users participation on the Platform;
- From reward and referral programs that The LoveChain advertises from time to time;
(c) By performing such actions as posting content on the Platform, gaining followers, obtaining likes, sharing posts, and sharing data with advertisers; (d) As a reward from The LoveChain for being socially active on the Platform, the amount of which will be determined at The LoveChain’s sole and absolute discretion and might be based on, but not limited to:
(i) How often you open The LoveChain App on your device;
(ii) How often you post content on the Platform;
(iii) How many followers your profile or account has;
(iv) How many likes your profile or account or something you post may have;
(v) The number of comments there are on your posts; or
(vi) How often and open you are to The LoveChain sharing and using your data (including personal data and information) and your behaviours on The LoveChain Platform with advertisers and other third parties that The LoveChain may engage or have a commercial arrangement with;
(vii) How often you engage with advertisements that appear on your profile or account on The LoveChain Platform.
(e) You may receive or provided to you in LOVR Tokens, and at The LoveChain’s sole discretion, a portion of the revenues that The LoveChain receives from placing third party advertisements on your profile or account on The LoveChain Platform.
9.3 From time to time you may also be able to buy LOVR Tokens from The LoveChain website by spending Fiat Currency (e.g. USD ($), AUD ($), GBP (£), Euros (€)). The LoveChain website may also allow LOVR Tokens to be purchased using other forms of cryptocurrency.
10.1 Changes to these terms and Policy: The LoveChain may need to amend these terms and Policy to reflect changes in any Applicable Laws, best practice, to deal with additions to The LoveChain Platform or for any other reason deemed appropriate and reasonable by The LoveChain. The LoveChain will notify you at least 20 Business Days in advance of any changes to these terms and Policy by sending an email with details of the changes or notifying you of the change when you next access The LoveChain Platform or The LoveChain App.
10.2 No partnership or agency: Nothing in these terms and Policy is intended to, or shall be deemed to, establish any partnership or joint venture between you or us, constitute either you or us as the agent of the other party, or authorise you or us to make or enter into any commitments for or on behalf of any other party. You confirm you are acting on your own behalf and not for the benefit of any other person.
10.3 Entire agreement: The terms and Policy constitute the entire agreement between you and us and supersede and extinguish all previous agreements, promises, assurances, warranties, representations and understandings between you and us, whether written or oral, relating to its subject matter. You acknowledge that in entering into the terms and Policy, you do not rely on any statement, representation, assurance or warranty (whether made innocently or negligently) that is not set out in the terms and Policy. You agree that you shall have no claim for innocent or negligent misrepresentation or negligent misstatement based on any statement in the terms or Policy. Nothing in this clause shall limit or exclude any liability for fraud.
10.4 Assignment and other dealings: These terms and Policy are personal to the parties and neither party shall assign, transfer, mortgage, charge, subcontract, declare a trust over or deal in any other manner with any of its rights and obligations under these terms or Policy.
10.5 Waiver: No failure or delay by us to exercise any right or remedy provided under these terms or Policy or by law shall constitute a waiver of that or any other right or remedy, nor shall it prevent or restrict the further exercise of that or any other right or remedy. No single or partial exercise of such right or remedy shall prevent or restrict the further exercise of that or any other right or remedy.
10.6 Severance: If any provision or part-provision of the terms or Policy is or becomes invalid, illegal or unenforceable, it shall be deemed modified to the minimum extent necessary to make it valid, legal and enforceable. If such modification is not possible, the relevant provision or part-provision shall be deemed deleted. Any modification to or deletion of a provision or part-provision under this clause shall not affect the validity and enforceability of the rest of the terms or Policy. If one party gives notice to the other of the possibility that any provision or part-provision of the terms or Policy is invalid, illegal or unenforceable, the parties shall negotiate in good faith to amend such provision so that, as amended, it is legal, valid and enforceable, and, to the greatest extent possible, achieves the intended commercial result of the original provision.
(a) Any notice or other communication given to a party under or in connection with the terms or Policy shall be in writing and shall be:
(i) sent by email to that party’s main email address or any relevant email address of The LoveChain provided in the terms or the Policy; or
(ii) sent as a notification or message via The LoveChain Platform or The LoveChain App or on The LoveChain’s website;
(b) Any notice or communication shall be deemed to have been received:
(i) if sent by e-mail, at the moment of transmission provided the email is accompanied by a delivery receipt; and
(ii) if sent by a notification or message via the The LoveChain App, at the moment a notification via the The LoveChain App is received on the party’s device (if via The LoveChain App);
(c) This clause does not apply to the service of any proceedings or other documents in any legal action or, where applicable, any arbitration or other method of dispute resolution.
10.8 Third party rights: No one other than a party to these terms or Policy shall have any right to enforce any of its terms.
- Contact information
The LoveChain Platform is provided by The LoveChain Pty Ltd. If you have any questions or complaints with respect to the Platform or our services, please contact The Lovechain at [email protected].
- Other terms and policies
Below is a list of other of The LoveChain’s terms and policies that may apply to you while using our Platform:
Copyright Infringement Notices re Image Content
Date of latest version: 11 February 2020