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Whitepaper
Eternity Foundation’s innovative DAO/platform empowers organizations to host sweepstakes, raffles, and contests on the blockchain. Leveraging smart contracts, the platform ensures fairness, transparency, and security in its operations. The DAO facilitates integration of any ERC-20 token and Non-Fungible Token (NFT) on any Ethereum Virtual Machine (EVM)-compatible blockchain.
Abstract: May, 2024
Written by: Armen Kardashian and Yuriy Aydinyan
Contributions by: Dmitry Maslennikov
Definitions
Ethereum
Ethereum is a decentralized blockchain platform that enables the creation of applications and organizations, allowing users to hold assets, transact, and communicate without the need for a central authority. Users retain control over their own data and the information they choose to share. Ethereum has its own native cryptocurrency, ETH, which is utilized for specific activities on the Ethereum network.
ETH
ETH is the native currency of the Ethereum network. It is used to govern and secure the Ethereum Network, as well as to pay for gas fees associated with transactions on the network.
Polygon
Polygon Network is a Layer 2 scaling solution built on the Ethereum blockchain that connects various Ethereum-based projects. It provides an efficient and cost-effective platform for conducting transactions and interacting with decentralized applications.
Gas Fee
Gas fee refers to the amount of cryptocurrency paid to execute transactions and smart contracts on a blockchain network. It serves as a fee to compensate network validators and miners for the computational resources required to process and verify the transaction.
Smart Contracts
Smart contracts are self-executing lines of code that contain predefined terms and conditions. These contracts automatically verify and execute transactions without the need for intermediaries. Deployed on blockchains, smart contracts ensure transparency, traceability, and immutability of transactions.
EFT
EFT, short for Eternity Foundation Token, is the native token of the Eternity Foundation. It is used within the Eternity.io ecosystem and the Eternity Game.
MATIC
MATIC is the native cryptocurrency of the Polygon network. It is used to pay for gas fees associated with transactions and interactions on the network as well as the token used to play MATIC Collections within the Eternity Game.
NFT
NFT, or non-fungible token, is a unit of data stored on a blockchain that certifies the uniqueness and ownership of a digital asset or resource. Unlike cryptocurrencies, NFTs cannot be exchanged on a one-to-one basis due to their unique characteristics.
3rd party NFT marketplace
3rd party NFT marketplaces are decentralized platforms built on the Ethereum blockchain where users can buy, sell, and trade NFTs created by various projects and artists. Examples include Opensea, Rarible, and Looksrare.
DAO
A DAO is an organization governed by self-executing smart contracts on a blockchain, eliminating the need for centralized management or human intervention in decision-making and task execution.
Eternity Game
A fun card collectibles game where the players are rewarded for collecting high ranked cards.
Eternity VIP
Eternity VIP refers to VIP members and holders of the Eternity.io VIP Card NFT. Eternity VIPs enjoy exclusive benefits such as discounted game and marketplace fees within Eternity Game, as well as other perks within the community. These NFTs are limited to a maximum of 2,222.
Introduction
In recent years, blockchain technology has catalyzed transformative changes across various industries, offering unparalleled opportunities for innovation, transparency, and decentralization. Among its diverse applications, blockchain integration into gaming and sweepstakes emerges as a promising frontier. This whitepaper serves as a testament to the commitment of Eternity Foundation in harnessing the transformative potential of blockchain technology in this domain.
Eternity Foundation champions the democratization of access to gaming experiences and sweepstakes while upholding principles of fairness, transparency, and security. Conventional gaming and sweepstakes platforms often grapple with trust issues, centralized control, and opacity. In response, Eternity’s innovative DAO/platform tackles these challenges head-on, empowering organizations to securely and transparently host sweepstakes, raffles, and contests on the blockchain.
This whitepaper provides an exploration of the DAO/platform, detailing its fundamental features, functionalities, and benefits. We delve into the underlying technology, including smart contracts and the seamless integration of ERC-20 tokens and Non-Fungible Tokens (NFTs) on Ethereum Virtual Machine (EVM)-compatible blockchains. Through real-world examples, we demonstrate how the Eternity platform augments the value and utility of tokens, as evidenced by Eternity Foundation Tokens (EFTs) and VIP Membership Card NFTs, thereby appealing to crypto communities.
By bridging the gap between blockchain technology and gaming/sweepstakes, we aspire to educate and inspire stakeholders across various domains. Whether you are a gamer seeking enhanced experiences, a business aiming to engage your audience, or a developer eager to innovate in the blockchain space, we invite you to join us in revolutionizing gaming and sweepstakes through decentralization, transparency, and trust.
Eternity Platform (DAO)
The Eternity Platform revolutionizes sweepstakes, raffles, and contests through two distinct approaches: fully on-chain and hybrid solutions.
Fully On-chain Solution:
- Advantages: The entire process is executed directly on the blockchain, ensuring maximum security and transparency.
- Challenges: However, this approach may encounter drawbacks such as high gas fees, slower processing times, scalability limitations, and concerns regarding NFT pollution.
Hybrid Solution (Lazy Minting):
- Advantages: By leveraging a backend server, this approach significantly reduces blockchain fees and expedites processing times while using the security of the blockchain. Additionally, digital items can be minted as NFTs on-demand, providing flexibility and efficiency.
Both solutions require user-triggered blockchain transactions, with an architecture featuring an API connected to the blockchain to monitor events, and a backend server cooperating with the API to respond to these events. Frontend interfaces, commonly interfaced with users through wallets like MetaMask, facilitate user interaction with the games.
Key components of the platform include the Investor DAO, responsible for managing profits, the Game Treasury, automating prize pool management, CardNFT for in-game NFT management, and the Marketplace for on-chain CardNFT trading. Collection Contracts define specific game rules, providing customizable gaming experiences.
The platform boasts unmatched flexibility, allowing customized rules and conditions for games. Furthermore, the Game Treasury supports various native tokens of EVM-compatible blockchains or ERC-20 tokens, while users holding specific NFTs across chains receive exclusive benefits within the platform.
Additional features include mechanisms for offering free plays to users upon meeting specific criteria, such as joining social platforms or communities.
Prizes within the platform range from monetary rewards in ERC-20 tokens to coveted NFTs, providing a diverse and rewarding gaming experience.
Technology
IPFS
Blockchain technology provides a transparent, secure, record of token ownership, allowing owners to use, sell, and transfer these without restriction. The Interplanetary File System (IPFS) stores the digital asset, ensuring the asset cannot be changed without the owner's permission.
Ethereum Blockchain
The Ethereum Blockchain provides an array of benefits, including ease of use, robustness, and interoperability. Among the most widely adopted protocols, with more developers than any other blockchain, Ethereum has well-established standards, support features, and adheres to industry best practices. The multitude of validators on the blockchain contribute to its integrity, security, and robustness.
For these reasons, thousands of developers have chosen Ethereum for their protocols and Dapps (decentralized applications), these also made it the ideal choice for both Eternity.io’s asset tokens and multi-utility NFTs. The Ethereum blockchain allows for the implementation of trustless sales and purchases; meta transactions; and decentralized governance, making it possible to offer a great experience to cryptocurrency novices.
Layer 2 Solution (Polygon)
Polygon Networks is a layer 2 solution for the Ethereum blockchain that connects Ethereum-based projects. Using the Polygon platform increases the flexibility, scalability, and sovereignty of a blockchain project, while still affording the security, interoperability, and structural benefits of the Ethereum blockchain. Polygon enables the Eternity Game’s super low gas fees and increased scalability.
Decentralized Autonomous Organizations (DAOs)
Decentralized Autonomous Organizations (DAOs) have redefined how organizations operate and coordinate activities. Their decentralized nature enables member control over operations, rather than concentrating control in a single location or with a few members. Autonomous smart contracts make this possible, governing operations, and determining how these function without human intervention or control.
DAOs provide added benefits to traditional organizational models. The combination of blockchain technology, programmable incentives, and tokenomics, with new governance and financial models, have made it possible for DAOs to overcome common challenges transnational organizations face; among these, the automation of processes, fiscal transparency, and the alignment of geographically distributed stakeholders.
Non-Fungible Tokens (NFTs)
An NFT, or non-fungible token is a unit of data stored on a blockchain, certifying the uniqueness of a digital resource. Smart contracts, or digital contracts, reside on the blockchain and are executed after specific requirements are met; in the case of NFTs, smart contracts provide immutability and certify assets as unique, minimizing any risks of counterfeiting. NFTs are embedded within the blockchain, the decentralized digital ledger that records every single transaction, ensuring transparency and traceability.
The Eternity Foundation has created top of the line, multi-utilityNFTs within multiple blockchains that go beyond speculative value, generating both built-in and perpetual value.
Program Agents
The Eternity Foundation’s architecture includes a server on the Amazon Web Services (AWS) infrastructure, continuously monitoring the blockchain and registering changes, such as ownership transfer of cryptocurrencies used and NFTs. All changes propagate into the backend through APIs (Application Programming Interfaces), while the centralized database updates records, so that both players and users of the Eternity Foundation Collectibles Game can access records through the frontend. In addition, certain situations trigger smart contract external data inputs. Security is a top priority — we have added several security layers, sanitized data, and contract audits, in addition to having public bug bounty hunts for rewards.
EFT Tokenomics
The initial supply is 1 Billion ERC20 tokens called Eternity Foundation Token (EFT).
Polygon Address: 0x951f75e1197aa15be0ceb89b11336a257cae8c91
After initial supply is minted, there will be a set max number of 110m in total of new EFTs that can be minted by VIP card holders per year
Eternity VIP Membership (NFT)
The Eternity VIP Membership presents an exclusive collection of 2,222 Non-Fungible Tokens (NFTs) built on the Ethereum network. These meticulously crafted NFTs grant holders an array of distinguished benefits within the Eternity.io ecosystem. From fee discounts to unique privileges, Eternity VIP Membership bestows a sense of prestige and unlocks a realm of possibilities for holders. Notably, these membership NFTs are tradable on third-party marketplaces, further augmenting their value and providing avenues for exploration and value creation.
Membership Token Distribution
- 200 VIP Cards will be designated to the Eternity Foundation, to provide prizes and give-aways
- 150 Founders VIP Cards
- 50 Eternity VIP Cards
- 2022 cards will be given away during the allowlist event for free
2 Membership Card Types
Total Number of VIP Card NFTs: 2222
- 222 Founders VIP cards (Black VIP Cards)
- 2000 Eternity VIP cards (Red VIP Cards)
Founders VIP Card
Image 1. Founders VIP Card
There will be a total of 222 Founders VIP cards. Founder VIPs receive the ultimate perks and discounts including:
- 90% off Eternity Game Mint Fees
- 90% Eternity Game Upgrade Fees
- 90% off Eternity Game Marketplace Fees
- 200k initial EFTs & 90,090 EFTs annually
- Exclusive Free NFT Drops
- Prize Raffles
- Exclusive Discord Channel Access
- Free Eternity.io Merchandise
- Store Discounts
- Invites to Eternity.io Events
- Discounts on future Eternity.io products and services
- and more!
Eternity VIP Card
Image 2. Eternity VIP Card
There will be a total of 2000 Eternity VIP cards. Founder VIPs receive perks and discounts including:
- 50% off Eternity Game Mint Fees
- 50% Eternity Game Upgrade Fees
- 50% off Eternity Game Marketplace Fees
- 81k initial EFTs & 45k EFTs annually
- Exclusive Free NFT Drops
- Prize Raffles
- Exclusive Discord Channel
- Discounts on Eternity.io Merchandise
Eternity Game
The Goal
The Eternity Game challenges players to draw high ranking cards from a deck of 52 in order to collect high bounty rewards.
Card Collections
The game features various collections of decks, each boasting its own distinctive theme of 53 hand-drawn cards and a bounty reward per card type.
Liquidity
Every card is backed by liquidity securely locked within a smart contract (game treasury). Players can collect their bounty reward from the game treasury by burning the cards in the Claim section of the game.
Card Ranks
Cards are categorized from Ace to King, with Aces representing common rarity and Kings embodying mythic rarity. Jokers act as wild cards, providing unique bonuses within the game.
Probabilities
Drawing occurs in a blindbox format, offering the opportunity to receive any of the 52 cards from the deck.
How to Start
- Go to play.eternity.io and connect your wallet (Metamask is recommended)
- Select a Collection under “Buy New Cards”
- Select the minimum rank to purchase, higher ranks cost more
- Select Quantity of Cards
- Click `Buy Cards`
Cards are drawn at random based on preset probabilities.
Upgrades
- Go to play.eternity.io and click “Card Upgrade”
- Click on cards you wish to exchange or click `Auto Select` to select desired card
- Click `Upgrade` to burn low ranked cards and receive new card
Upgrades are useful for players who hold many of the same low ranked cards. It’s inefficient to claim each card individually and it’s more convenient to exchange those cards to a higher rank and claim it instead.
Bounty Rewards
- Go to play.eternity.io and connect your wallet
- Click “Claim Now” on the top of the page
- Select cards and click `Claim` to redeem your bounty
Claiming bounties burns cards, this process is irreversible and will destroy the edition numbers forever.
Game Fees
- Mint Fee: A customizable percentage mint fee is integrated into the minting price.
- Upgrade Fee: A customizable percentage fee is levied on the value of the received card for upgrades.
- Claim Fee: A customizable percentage fee is charged when burning cards to claim the prize.
All fees and game rules are highly customizable.
Conclusion
Eternity.io has developed a groundbreaking platform that enhances the security, transparency, and efficiency of promotional activities like raffles and sweepstakes. By leveraging blockchain technology, Eternity.io ensures fair and tamper-proof competitions. The platform’s automation capabilities streamline the management of promotions, significantly reducing overhead costs associated with traditional, centralized solutions. Additionally, Eternity.io’s compliance automation ensures adherence to regulatory standards, providing a trustworthy and legally sound environment. With these innovations, Eternity.io sets a new standard in the promotional industry, offering unparalleled benefits to both businesses and participants.
Disclaimers
The information in this White Paper is subject to change or update and should not be construed as a commitment, promise or guarantee by Eternity Foundation Inc. (Company) or any other individual or organization mentioned in this white paper relating to the future availability of services related to the use of the tokens or to their future performance or value. The document does not constitute an offer or solicitation to sell shares or securities. It does not constitute or form part of and should not be construed as any offer for sale or subscription of or any invitation to buy or subscribe for any securities nor should it or any part of it form the basis of or be relied upon in any connection with any contract or commitment whatsoever. The Company expressly disclaims any and all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from reliance on any information contained in the whitepaper, any error, omission or inaccuracy in any such information or any action resulting therefrom. This is not a recommendation to buy or financial advice, It is strictly informational. Do not trade or invest in any tokens, companies or entities based solely upon this information. Any investment involves substantial risks, including, but not limited to, pricing volatility, inadequate liquidity, and the potential complete loss of principal. Investors should conduct independent due diligence, with assistance from professional financial, legal and tax experts, on topics discussed in this document and develop a stand-alone judgment of the relevant markets prior to making any investment decision.
We have prepared all information herein from sources we believe to be accurate and reliable. However, such information is presented “as is,” without warranty of any kind – whether expressed or implied. All market prices, data and other information are not warranted as to completeness or accuracy, are based upon selected public market data, reflect prevailing conditions, and our view as of this date, all of which are accordingly subject to change without notice. The graphs, charts and other visual aids are provided for informational purposes only. None of these graphs, charts or visual aids can and of themselves be used to make investment decisions. No representation is made that these will assist any person in making investment decisions and no graph, chart or other visual aid can capture all factors and variables required in making such decisions.
The information contained in this document may include, or incorporate by reference, forward-looking statements, which would include any statements that are not statements of historical fact. No representations or warranties are made as to the accuracy of such forward-looking statements. Any projections, forecasts and estimates, contained in this document although in good faith, are necessarily speculative in nature and are based upon certain assumptions. These forward-looking statements may turn out to be wrong and can be affected by inaccurate assumptions or by known or unknown risks, uncertainties and other factors, most of which are beyond control. It may so occur that some or all of such forward-looking assumptions will not materialize or will vary significantly from actual results.
No Investment Advice; Investment Risks
The information in this White Paper and any information provided in connection with the Products, Services or Benefits are provided to potential Eternity.io VIP Card (“Eternity.io VIP Card”) holders only and for information only and do not constitute, and should not be construed as, investment advice or a recommendation to buy, sell, or otherwise transact in any digital asset including any products or services or an invitation, offer or solicitation to engage in any investment activity with respect to any digital asset.
The information in this White Paper and any information provided in connection with the Products, Services or Benefits provided to potential Eternity.io VIP Card holders are provided solely on the basis that you will make your own investment and trading decisions, and the Company does not take account of any person's investment objectives, particular needs, or financial situation. In addition, nothing in this White Paper or any information provided in connection with the Products, Services or Benefits provided to the potential Eternity.io VIP Card holders shall, or is intended to, constitute financial, legal, accounting or tax advice. It is strongly recommended that you seek professional investment advice before making any investment decision. Any investment decision that you make should be based on an assessment of your risks in consultation with your investment adviser.
Eternity.io VIP Card Perks
A Participant (as defined below) of a Eternity.io VIP Card may receive special perks, experience, or opportunities as determined by the Company in its sole discretion (“Perks”) for a minimum period of five years (5) years after the Eternity.io VIP Cards are first made available for sale (i.e., dropped) by the Company. the Company does not make any representation or guarantee that any Participant will receive any Perks or achieve any particular outcome as a result of owning any Eternity.io VIP Card. The Company reserves the right, at its sole discretion, to restrict, limit, or deny any Perks to any Participant, including to limit the period of time when a Perk is available, for any reason, at any time. Perks are not intended to be an endorsement of any project, creator, NFT, individual or any other thing, and the Company makes no recommendation and provides no investment advice in connection with any Perks or otherwise as a result of holding or owning the Eternity.io VIP Card.
SALE OF Eternity.io VIP Card
When each Eternity.io VIP Card is sold for the first time, the agreement for sale is between the Company and the Initial Purchaser. If the Initial Purchaser decides to sell a Eternity.io VIP Card (“Secondary Sale”), then the Company is not a party to any agreement between the applicable buyer, seller, or facilitator of the Secondary Sale.
If you or any owner of a Eternity VIPs (“Participant”) sells or transfers a Eternity.io VIP Card to another participant, (a) you as Participant, represents and warrants that you will notify the subsequent participant of these Terms and require the subsequent participant to comply with these Terms, (b) such other participant will be deemed the “Participant” (for purposes of such Eternity.io VIP Card and to the underlying NFT IP) and will be subject to these Terms, and (c) you, as the seller or transferor of such Eternity.io VIP Card, will cease to have any further rights to such Eternity.io VIP Card or underlying NFT IP.
By placing an order on the Site (“Eternity.io”) or through the Services (including by bidding in an auction), you agree that you are submitting a binding offer to purchase a Eternity.io VIP Card, you agree to pay all applicable fees associated with the Transaction, and you authorize the Company to automatically charge and collect such fees from your payment instrument or wallet. If you are an Initial Purchaser, then all amounts due are to be paid to the Company. If you are not the Initial Purchaser of an Eternity.io VIP Card, then amounts may be paid to the seller of such Eternity.io VIP Card.
You acknowledge and agree that the Company receives 7.5% of every Secondary Sale of an Eternity.io VIP Card (“Royalty”). the Company has the right to collect Royalties for the Company sales in perpetuity. As such, if you sell a Eternity.io VIP Card on a third-party marketplace, you agree to include a statement substantially similar to the following in the description of the NFT: “7.5% Royalty Applies. See Eternity.io VIP Card Terms of Use for details.”
No refunds are permitted except with respect to any statutory warranties or guarantees that cannot be excluded or limited by law.
Taxes
The tax characterization of the Eternity Foundation is uncertain. The Participant must seek their own tax advice in connection with purchasing Assets, which may result in adverse tax consequences to them, including withholding taxes, income taxes and tax reporting requirements. You are responsible for any and all sales, use, value-added and other taxes, duties, and assessments now or hereafter claimed or imposed by any governmental authority, associated with your use of the Services, Perks or Eternity.io VIP Cards (including, without limitation, any taxes that may become payable as the result of your ownership, transfer, purchase, or sale of a Eternity.io VIP Card).
Changes to Service
The Company reserves the right to modify or discontinue, temporarily or permanently, the Services (or any part thereof) with or without notice. You agree that the Company will not be liable to you or to any third party for any modification, suspension, or discontinuance of the Services, including in relation to any Eternity.io VIP Card.
Risk Factors
The following is a non-exhaustive disclosure of principal risk factors which are considered to be material in the White Paper and are advised to consult with their own professional advisers (including their financial, accounting, legal, tax, technical or other advisers and experts) before deciding to obtain Eternity Membership Token NFTs, EFTs, and Game NFTs (collectively known as “Assets”). In addition, Eternity VIPs and Game Players (further known as Participants) should be aware that the risks described herein may combine and thus intensify one another. The Company believes that the following risk factors may even affect its own business, as well as the external valuation of its Assets (which external valuation is beyond the scope and purpose of the reason behind the Eternity.io Ecosystem and the Company’s Business). Most of these risk factors are contingencies which may or may not occur and the Company is not in a position to predict the likelihood of such contingency occurring.
By acquiring, holding and using the Assets, the Participant expressly acknowledges and assumes the following risks:
General Suitability of Token Acquisition
The acquisition of Assets from the Company is only suitable for financially sophisticated persons who are capable of evaluating the merits and risks of such an acquisition, or other persons who have been professionally advised with regard to token acquisition and who have sufficient financial resources to be able to bear any losses that may arise therefrom (which may be equal to the whole amount spent in connection with token acquisition). Such an acquisition should not be seen as an investment or a financial asset.
Risk of Losing Access to Assets Due to Loss of Private Key/s, Custodial Error or Participant Error
A Wallet is necessary to acquire, hold and dispose of assets. The Participant hereby understands that he is responsible for setting up the Wallet with a third-party provider to hold the Assets and he is responsible for implementing reasonable measures for securing the Wallet. Accordingly, loss of requisite private key/s associated with the Wallet holding the Assets will result in loss of such Assets and any other cryptocurrencies and/or tokens held within. Moreover, any third party that gains access to such private key/s, including by gaining access to login credentials of the Wallet that the Participant uses, may be able to misappropriate the Participant’s Assets. Any errors or malfunctions caused by or otherwise related to the Wallet that the Participant chooses to receive and hold the Assets including the Participant’s own failure to properly maintain or use such wallet or caused as a result of the choice of third party provider for the Wallet, may also result in the loss of Assets. Additionally, the Participant’s failure to follow precisely the procedures set forth in the Terms for acquiring and receiving the Assets including but not limited to, the provision of the wrong Wallet address for receiving the Assets may also result in the loss.
Risk of Mining Attacks
As with other decentralized cryptographic tokens based on the Ethereum protocol, (ERC20 tokens) Assets are susceptible to attacks by miners in the course of validating Eternity Foundation transactions on the Ethereum blockchain, including, but not limited, to double-spend attacks, majority mining power attacks, and selfish-mining attacks. Any successful attacks present a risk to the Eternity.io Ecosystem and/or the Assets, including but not limited to, accurate execution and recording of transactions involving the Assets.
Risk of Hacking and Security Weakness
Hackers or other groups or organizations may attempt to interfere with the Eternity.io Ecosystem in a number of ways, including, but not limited to denial of service attacks, Sybil attacks, spoofing, smurfing, malware attacks, or consensus-based attacks, and any such similar events which could have an impact on Assets, the Eternity.io Ecosystem and the Services the Company may offer from time to time.
Risk of Security Weakness in the Smart Contract, Website and the Eternity Foundation Source Code or any Associates Software and/or Infrastructure
There is a risk that the Smart Contract, Eternity.io Website, the Eternity.io Ecosystem and the Company may unintentionally include weaknesses or bugs in the source code interfering with the use of or causing the loss of Assets; the source code of the Smart Contracts are open and could be updated, amended, altered or modified from time to time. The Company is unable to foresee or guarantee the precise result of an update, amendment, alteration or modification. As a result, any update, amendment, alteration or modification could lead to an unexpected or unintended outcome that adversely affects the Assets and/or the Website. As a result, Assets may be lost.
Risk of no Listing or low/no Liquidity
EFTs are intended to be used solely for the Eternity Foundation Collectibles Game and the Company will not support or otherwise facilitate any secondary trading on an exchange or the secondary market or the external valuation of EFTs, which are all beyond the scope and purpose of the Company. This restricts the contemplated intended use of EFTs within the Eternity Foundation Collectibles Game and could therefore create illiquidity risk with respect to EFT that the Participant owns. Even though there are currently online services available which enable exchange of cryptographic tokens with other such tokens or even enable the exchange of cryptographic tokens for fiat money, there are no warranties and/or guarantees that EFT will be made available for exchange with other cryptographic tokens and/or fiat money, and no guarantees are given whatsoever with regard to the capacity and/or volume of such exchange/s. It shall be explicitly cautioned that such exchange, if any, might be subject to poorly-understood regulatory oversight, and the Company does not give any warranties in regard to any exchange services providers. Users including the Participant, if applicable, might be exposed to fraud and failure affecting those exchanges. In any case, it is not the Company’s aim to enable exchange of EFT for other cryptographic tokens or for fiat currency on secondary markets, and it shall therefore not commit to any endeavors to list EFT on such exchanges or any secondary markets.
Risks of an Eventual Unfavorable Fluctuation of ETH and/or EFT Value
The Eternity Liquidity Pool is intended to be financially self-sufficient and self-financing after the Private Placement Event and the Company commits to have no specific interest in the market value of any cryptocurrency used. Nevertheless, if the value of said cryptocurrency fluctuates, the Company may not be able to fund development to the extent necessary, or may not be able to develop or maintain the Eternity.io Ecosystem in the manner that it intended. In addition to the usual market forces, there are several potential events which could exacerbate the risk of unfavorable fluctuation in the value of said cryptocurrency including another DAO-like attack on the Ethereum network, or significant security incidents or market irregularities at one or more of the major cryptocurrency exchanges.
Risk of Malfunction in the Ethereum Network or any Other Blockchain and of Competing Platforms
It is possible that Assets are interacting containing malfunctions in an unfavorable way, including but not limited to one that results in the loss of Assets or prevent their use in the Eternity.io Ecosystem. It is possible that alternative platforms could be established that utilize the same open source code and protocol underlying the Eternity.io Ecosystem, and attempt to facilitate services that are materially similar to the Eternity Foundation. The Eternity Foundation may compete with these alternatives, which could negatively impact the Eternity.io Ecosystem, including the utility of Assets.
Risk of Uninsured Losses
Unlike bank accounts or accounts at some other financial institutions, Assets are uninsured unless the Participant specifically obtains private insurance to insure them. Thus, in the event of loss of Assets or loss of Asset’s value, there is no public insurer, such as the Investor Compensation Scheme or private insurance arranged by the Company to provide recourse to the Participant.
Risk Associated with Uncertain Regulations and Enforcement Actions
The regulatory status of tokens in general, Initial Token or Coin Offerings, Private Placement Event and distributed ledger technology is unclear or unsettled in many jurisdictions. It is difficult to predict how or whether regulatory authorities may apply existing regulation with respect to such technology and its applications, including the Eternity.io Ecosystem and Its Asset offerings. It is likewise difficult to predict how or whether legislatures or regulatory agencies may implement regulatory actions or changes to law and regulation affecting distributed ledger technology and its applications, including the Eternity.io Ecosystem and the tokens. Regulatory actions or changes to law and regulation could negatively impact the Eternity Foundation and the Eternity.io Ecosystem in various ways, including, but not limited to, a determination that the acquisition, holding and use or disposal and transfer of Assets constitutes a regulated instrument that require registration or licensing of those instruments or some or all of the parties involved in the acquisition, contribution, sale and delivery thereof. The Company may cease operations or interrupt the Private Placement Event in a jurisdiction in the event that regulatory actions, or changes to law or regulation, make it illegal to operate in such jurisdiction, or commercially undesirable or no longer viable to obtain the necessary regulatory approval/s to operate in such jurisdiction or to provide the Eternity Foundation.
Risk of Insufficient Interest in Eternity Foundation Offerings and the Eternity Foundation Collectibles Game
It is possible that the Eternity Foundation offerings and the Eternity Foundation Collectibles Game will no longer be used by a large number of individuals, companies and other entities or that there will be limited interest in the use of the Eternity.io Ecosystem and the Eternity Foundation Collectibles Game. Such a lack of use or interest could negatively impact the development of the Eternity Foundation Collectibles Game and therefore the potential utility of the cryptocurrency used.
Risk of Dissolution of the Company
It is possible that, due to any number of reasons, including, but not limited to, a decrease in Eternity Foundation’s utility, the failure of commercial relationships, or intellectual property ownership challenges, unfavorable market conditions and added compliance and regulatory obligations, the use of the Eternity.io Ecosystem may no longer be viable to be operated or the Company may need to cease trading and be dissolved and liquidated. Risk arising from Lack of Governance Rights Since the Eternity.io Ecosystem does not represent or confer any ownership right or stake, share or security or equivalent rights, intellectual property rights or any other form of participation relating to the Company, all decisions involving the Company will be made by Company at their sole discretion. These decisions could adversely affect the utility that the Participant holds.
Regulatory Risks and Market Risks
The Company and by operation of the Eternity.io Ecosystem, are subject to a variety of domestic and/or EU and international laws, regulation and directives, including those with respect to privacy and data protection, consumer protection, data security, and others. These laws, regulations and directives, and the interpretation or application of these laws, regulations and directives, could change. In addition, new laws, regulations or directives affecting the Company, the Eternity.io Ecosystem, and Assets could be enacted, which could impact the utility of the Assets and their use within the Eternity.io Ecosystem. Additionally, the Participants are subject to industry specific laws and regulations or licensing requirements. If any of the Parties fails to comply with any of these licensing requirements or other applicable laws or regulations, or if such laws and regulations or licensing requirements become more stringent or are otherwise expanded, it could adversely impact the Company and the Eternity.io Ecosystem, including the Assets’s utility. The Participant hereby accepts the risk that in some countries the Assets might be considered, now or in the future, a Security Token. In this case the Company gives no representations, warranties or guarantees that the Utility Tokens are not considered to be Security Tokens in all countries. The Participant hereby accepts to be solely responsible of the legal, financial and any other risks connected to any cryptocurrency being labeled as a security in his country and to be the only responsible to check if the holding, using and the disposal of said cryptocurrency is legal in your country. Also, changes in laws, regulations and directives governing the Company’s operations may adversely affect their business and consequently the Eternity.io Ecosystem. Any change in the Company’s tax status, or in taxation legislation in the state of Wyoming or elsewhere, could impact the value of its financial holdings, its business and the Company’s ability to achieve its business objective and continual commitment to the development of the Eternity.io Ecosystem.
Other Inherent Risks
The Participant understands and accepts the inherent risks associated with any Asset, to the extent not covered elsewhere in the Terms, including, but not limited to, risks associated with (a) money laundering; (b) fraud; (c) exploitation for illegal purposes; and (d) any other unanticipated risks.
Unanticipated Risks
Cryptographic tokens such as the Assets as well as blockchain are a new and untested technology. In addition to the risks included in the Company Documents there are other risks associated with the Participant’s acquisition, holding and use of Assets, including some that the Company cannot or may not anticipate. Such risks may further materialize as unanticipated variations or combinations of the risks discussed in the Company Documents. The Participant hereby represents and warrants that he will take sole responsibility for any restrictions and risks associated with the holding or use of any Assets. If any of the risks mentioned in the Terms are unacceptable or the Participant is not in the position to understand, the Participant should not acquire, hold or use any Eternity Foundation Assets.
No Warranties
YOUR USE OF THE SERVICES, ETERNITY.IO VIP CARD, NFT IP, AND PERKS IS AT YOUR SOLE RISK. EXCEPT AS EXPRESSLY PROVIDED TO THE CONTRARY IN A WRITING BY THE COMPANY, THE SERVICES, PERKS, SERVICES CONTENT, AND ANY AND ALL ETERNITY.IO VIP Cards AND NFT IP ARE PROVIDED ON AN “AS IS” AND “AS AVAILABLE” BASIS WITHOUT WARRANTIES OR CONDITIONS OF ANY KIND, EITHER EXPRESS OR IMPLIED.
The Company AND ITS affiliates and their respective officers, employees, representatives, directors and agents (COLLECTIVELY, “REPRESENTATIVES”) MAKE NO WARRANTY THAT (I) THE SERVICES, ETERNITY.IO VIP CARDS, NFT IP OR PERKS WILL MEET YOUR REQUIREMENTS, (II) THE SERVICES, ETERNITY.IO VIP CARDS, NFT IP OR PERKS WILL BE UNINTERRUPTED, TIMELY, SECURE, OR ERROR-FREE, (III) THE RESULTS THAT MAY BE OBTAINED FROM THE USE OF THE SERVICES, ETERNITY.IO VIP CARDS, NFT IP OR PERKS WILL BE ACCURATE OR RELIABLE, OR (IV) THE QUALITY OF ANY SERVICES, Eternity.io VIP Cards, NFT IP OR PERKS, OR ANY PRODUCTS, PLATFORMS, INFORMATION, OR OTHER MATERIAL PURCHASED OR OBTAINED BY YOU THROUGH THE SERVICES, ETERNITY.IO VIP CARDS OR PERKS WILL MEET YOUR EXPECTATIONS.
THE COMPANY AND ITS REPRESENTATIVES WILL NOT BE LIABLE FOR ANY LOSS OF ANY KIND FROM ANY ACTION TAKEN OR TAKEN IN RELIANCE ON MATERIAL OR INFORMATION, CONTAINED ON THE SERVICES, ETERNITY.IO VIP CARDS, NFT IP OR PERKS. THE COMPANY DOES NOT REPRESENT OR WARRANT THAT SERVICES CONTENT IS ACCURATE, COMPLETE, RELIABLE, CURRENT OR ERROR-FREE.
ETERNITY.IO VIP CARDS ARE INTANGIBLE DIGITAL ASSETS. THEY EXIST ONLY BY VIRTUE OF THE OWNERSHIP RECORD MAINTAINED IN THE ETHEREUM NETWORK. ANY TRANSFER OF TITLE THAT MIGHT OCCUR IN ANY UNIQUE DIGITAL ASSET OCCURS ON THE DECENTRALIZED LEDGER WITHIN THE ETHEREUM PLATFORM. WE DO NOT GUARANTEE THAT THE COMPANY CAN EFFECT THE TRANSFER OF TITLE OR RIGHT IN ANY ETERNITY.IO VIP CARDS.
Limitation of Liability
TO THE FULLEST EXTENT PERMITTED BY LAW, IN NO EVENT WILL THE COMPANY OR ITS REPRESENTATIVES BE LIABLE TO YOU OR ANY THIRD PARTY FOR ANY LOST PROFIT OR ANY INDIRECT, CONSEQUENTIAL, EXEMPLARY, INCIDENTAL, SPECIAL OR PUNITIVE DAMAGES ARISING FROM THESE TERMS, THE SITE, THE SERVICES, SERVICES CONTENT, ETERNITY.IO VIP CARDS, NFT IP, PERKS OR THIRD PARTY SITES AND PRODUCTS, OR FOR ANY DAMAGES RELATED TO LOSS OF REVENUE, LOSS OF PROFITS, LOSS OF BUSINESS OR ANTICIPATED SAVINGS, LOSS OF USE, LOSS OF GOODWILL, OR LOSS OF DATA, WHETHER CAUSED BY TORT (INCLUDING NEGLIGENCE), BREACH OF CONTRACT, OR OTHERWISE, EVEN IF FORESEEABLE AND EVEN IF THEY HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. ACCESS TO, AND USE OF, THE SITE, THE SERVICES, SERVICES CONTENT, ETERNITY.IO VIP CARD, NFT IP, PERKS OR THIRD PARTY SITES AND PRODUCTS ARE AT YOUR OWN DISCRETION AND RISK, AND YOU WILL BE SOLELY RESPONSIBLE FOR ANY DAMAGE TO YOUR COMPUTER SYSTEM OR MOBILE DEVICE OR LOSS OF DATA RESULTING THEREFROM.
NOTWITHSTANDING ANYTHING TO THE CONTRARY CONTAINED HEREIN, IN NO EVENT SHALL THE MAXIMUM AGGREGATE LIABILITY OF THE COMPANY OR ANY OF ITS REPRESENTATIVES ARISING OUT OF OR IN ANY WAY RELATED TO THESE TERMS, THE ACCESS TO AND USE OF THE SITE, THE SERVICES, SERVICES CONTENT, ETERNITY.IO VIP CARD, NFT IP OR PERKS EXCEED $100.
SOME JURISDICTIONS DO NOT ALLOW THE DISCLAIMER OR EXCLUSION OF CERTAIN WARRANTIES OR THE LIMITATION OR EXCLUSION OF LIABILITY FOR INCIDENTAL OR CONSEQUENTIAL DAMAGES. ACCORDINGLY, SOME OF THE ABOVE LIMITATIONS SET FORTH ABOVE MAY NOT APPLY TO YOU OR BE ENFORCEABLE WITH RESPECT TO YOU. IF YOU ARE DISSATISFIED WITH ANY PORTION OF THE SERVICES, ETERNITY.IO VIP CARDS, NFT IP OR PERKS OR WITH THESE TERMS, YOUR SOLE AND EXCLUSIVE REMEDY IS TO DISCONTINUE USE OF THE SERVICES.
IF YOU ARE A USER FROM NEW JERSEY, THE FOREGOING SECTIONS TITLED “DISCLAIMER OF WARRANTIES” AND “LIMITATION OF LIABILITY” ARE INTENDED TO BE ONLY AS BROAD AS IS PERMITTED UNDER THE LAWS OF THE STATE OF NEW JERSEY. IF ANY PORTION OF THESE SECTIONS IS HELD TO BE INVALID UNDER THE LAWS OF THE STATE OF NEW JERSEY, THE INVALIDITY OF SUCH PORTION SHALL NOT AFFECT THE VALIDITY OF THE REMAINING PORTIONS OF THE APPLICABLE SECTIONS.
Indemnification
To the fullest extent permitted by applicable law, you agree to indemnify, defend and hold harmless the Company and its Representatives (collectively, the “Indemnitees”), from and against all actual or alleged third party claims, damages, awards, judgments, losses, liabilities, obligations, penalties, interest, fees, expenses (including, without limitation, attorneys' fees and expenses) and costs (including, without limitation, court costs, costs of settlement and costs of pursuing indemnification and insurance), of every kind and nature whatsoever, whether known or unknown, foreseen or unforeseen, matured or unmatured, or suspected or unsuspected, in law or equity, whether in tort, contract or otherwise (collectively, “Claims”), including, but not limited to, damages to property or personal injury, that are caused by, arise out of or are related to (a) your use or misuse of the Site, the Services, Services Content, Eternity.io VIP Cards, NFT IP or Perks, (b) your violation of these Terms, or (c) your violation of the rights of a third party, including another User. You agree to promptly notify the Company of any third party Claims and cooperate with the applicable Indemnitee in defending such Claims. You further agree that the Indemnitees shall have the right to control of the defense or settlement of any third party Claims. THIS INDEMNITY IS IN ADDITION TO, AND NOT IN LIEU OF, ANY OTHER INDEMNITIES SET FORTH IN A WRITTEN AGREEMENT BETWEEN YOU AND US.
Termination Rights
You agree that the Company, in its sole discretion, may suspend or terminate your account (or any part thereof) or use of the Services or Perks and remove and discard any content within the Services, for any reason, including, without limitation, for lack of use or if the Company believes that you have violated or acted inconsistently with the letter or spirit of these Terms. Any suspected fraudulent, abusive or illegal activity that may be grounds for termination of your use of the Services or Perks may be referred to appropriate law enforcement authorities. the Company may also in its sole discretion and at any time discontinue providing the Services or Perks, or any part thereof, with or without notice. You agree that any termination of your access to the Services or Perks under any provision of these Terms may be effected without prior notice, and acknowledge and agree that the Company may immediately deactivate or delete your account and all related information and files in your account and/or bar any further access to such files or the Services or Perks. Further, you agree that the Company will not be liable to you or any third party for any termination of your access to the Services or Perks.
Disputes With Other Participants
You agree that you are solely responsible for your interactions with any other Users and Participants in connection with the Services, Eternity.io VIP Cards and Perks, and the Company will have no liability or responsibility with respect thereto. the Company reserves the right, but has no obligation, to become involved in any way with disputes between you and any other User or Participant.
Dispute Resolution By Binding Arbitration
PLEASE READ THIS SECTION CAREFULLY AS IT AFFECTS YOUR RIGHTS.
Agreement to Arbitrate
This Dispute Resolution by Binding Arbitration section is referred to in these Terms as the “Arbitration Agreement.” You agree that any and all disputes or claims that have arisen or may arise between you and the Company, whether arising out of or relating to these Terms (including any alleged breach thereof), the Services, Eternity.io VIP Cards, Perks, any advertising, or any aspect of the relationship or transactions between us, will be resolved exclusively through final and binding arbitration, rather than a court, in accordance with the terms of this Arbitration Agreement, except that you may assert individual claims in small claims court, if your claims qualify. Further, this Arbitration Agreement does not preclude you from bringing issues to the attention of federal, state, or local agencies, and such agencies can, if the law allows, seek relief against us on your behalf. You agree that, by entering into these Terms, you and the Company are each waiving the right to a trial by jury or to participate in a class action. Your rights will be determined by a neutral arbitrator, not a judge or jury. The Federal Arbitration Act governs the interpretation and enforcement of this Arbitration Agreement.
Prohibition of Class and Representative Actions and Non-Individualized Relief
YOU AND THE COMPANY AGREE THAT EACH OF US MAY BRING CLAIMS AGAINST THE OTHER ONLY ON AN INDIVIDUAL BASIS AND NOT AS A PLAINTIFF OR CLASS MEMBER IN ANY PURPORTED CLASS OR REPRESENTATIVE ACTION OR PROCEEDING. UNLESS BOTH YOU AND the Company AGREE OTHERWISE, THE ARBITRATOR MAY NOT CONSOLIDATE OR JOIN MORE THAN ONE PERSON'S OR PARTY'S CLAIMS AND MAY NOT OTHERWISE PRESIDE OVER ANY FORM OF A CONSOLIDATED, REPRESENTATIVE, OR CLASS PROCEEDING. ALSO, THE ARBITRATOR MAY AWARD RELIEF (INCLUDING MONETARY, INJUNCTIVE, AND DECLARATORY RELIEF) ONLY IN FAVOR OF THE INDIVIDUAL PARTY SEEKING RELIEF AND ONLY TO THE EXTENT NECESSARY TO PROVIDE RELIEF NECESSITATED BY THAT PARTY'S INDIVIDUAL CLAIM(S), EXCEPT THAT YOU MAY PURSUE A CLAIM FOR AND THE ARBITRATOR MAY AWARD PUBLIC INJUNCTIVE RELIEF UNDER APPLICABLE LAW TO THE EXTENT REQUIRED FOR THE ENFORCEABILITY OF THIS PROVISION.
Pre-Arbitration Dispute Resolution
The Company is always interested in resolving disputes amicably and efficiently, and most customer concerns can be resolved quickly and to the customer's satisfaction by emailing the Company at [email protected]. If such efforts prove unsuccessful, a party who intends to seek arbitration must first send to the other, by certified mail, a written Notice of Dispute (“Notice”). The Notice to the Company should be sent to the Company - 32 N Gould St Sheridan, WY 82801 (“Notice Address”). The Notice must (i) describe the nature and basis of the claim or dispute and (ii) set forth the specific relief sought. If the Company and you do not resolve the claim within sixty (60) calendar days after the Notice is received, you or the Company may commence an arbitration proceeding. During the arbitration, the amount of any settlement offer made by the Company or you will not be disclosed to the arbitrator until after the arbitrator determines the amount, if any, to which you or the Company is entitled.
Arbitration Procedures
Arbitration will be conducted by a neutral arbitrator in accordance with the American Arbitration Association's (“AAA”) rules and procedures, including the AAA's Consumer Arbitration Rules (collectively, the “AAA Rules”), as modified by this Arbitration Agreement. For information on the AAA, please visit its website, http://www.adr.org. Information about the AAA Rules and fees for consumer disputes can be found at the AAA's consumer arbitration page, https://www.adr.org/consumer. If there is any inconsistency between any term of the AAA Rules and any term of this Arbitration Agreement, the applicable terms of this Arbitration Agreement will control unless the arbitrator determines that the application of the inconsistent Arbitration Agreement terms would not result in a fundamentally fair arbitration. The arbitrator must also follow the provisions of these Terms as a court would. All issues are for the arbitrator to decide, including issues relating to the scope, enforceability, and arbitrability of this Arbitration Agreement. Although arbitration proceedings are usually simpler and more streamlined than trials and other judicial proceedings, the arbitrator can award the same damages and relief on an individual basis that a court can award to an individual under these Terms and applicable law. Decisions by the arbitrator are enforceable in court and may be overturned by a court only for very limited reasons.
Unless the Company and you agree otherwise, any arbitration hearings will take place in a reasonably convenient location for both parties with due consideration of their ability to travel and other pertinent circumstances. If the parties are unable to agree on a location, the determination will be made by AAA. If your claim is for $10,000 or less, the Company agrees that you may choose whether the arbitration will be conducted solely on the basis of documents submitted to the arbitrator, through a telephonic hearing, or by an in-person hearing as established by the AAA Rules. If your claim exceeds $10,000, the right to a hearing will be determined by the AAA Rules. Regardless of the manner in which the arbitration is conducted, the arbitrator will issue a reasoned written decision sufficient to explain the essential findings and conclusions on which the award is based.
Costs of Arbitration
Payment of all filing, administration, and arbitrator fees (collectively, the “Arbitration Fees”) will be governed by the AAA Rules, unless otherwise provided in this Arbitration Agreement. If the value of the relief sought is $75,000 or less, at your request, the Company will pay all Arbitration Fees. If the value of relief sought is more than $75,000 and you are able to demonstrate to the arbitrator that you are economically unable to pay your portion of the Arbitration Fees or if the arbitrator otherwise determines for any reason that you should not be required to pay your portion of the Arbitration Fees, the Company will pay your portion of such fees. In addition, if you demonstrate to the arbitrator that the costs of arbitration will be prohibitive as compared to the costs of litigation, the Company will pay as much of the Arbitration Fees as the arbitrator deems necessary to prevent the arbitration from being cost-prohibitive. Any payment of attorneys' fees will be governed by the AAA Rules.
Confidentiality
All aspects of the arbitration proceeding, and any ruling, decision, or award by the arbitrator, will be strictly confidential for the benefit of all parties.
Severability
If a court or the arbitrator decides that any term or provision of this Arbitration Agreement (other than the subsection (b) above titled “Prohibition of Class and Representative Actions and Non-Individualized Relief” above) is invalid or unenforceable, the parties agree to replace such term or provision with a term or provision that is valid and enforceable and that comes closest to expressing the intention of the invalid or unenforceable term or provision, and this Arbitration Agreement will be enforceable as so modified. If a court or the arbitrator decides that any of the provisions of subsection (b) above titled “Prohibition of Class and Representative Actions and Non-Individualized Relief” are invalid or unenforceable, then the entirety of this Arbitration Agreement will be null and void, unless such provisions are deemed to be invalid or unenforceable solely with respect to claims for public injunctive relief. The remainder of these Terms will continue to apply.
Future Changes to Arbitration Agreement
Notwithstanding any provision in these Terms to the contrary, the Company agrees that if it makes any future change to this Arbitration Agreement (other than a change to the Notice Address) while you are a User of the Services, you may reject any such change by sending the Company written notice within thirty (30) calendar days of the change to the Notice Address provided above. By rejecting any future change, you are agreeing that you will arbitrate any dispute between us in accordance with the language of this Arbitration Agreement as of the date you first accepted these Terms (or accepted any subsequent changes to these Terms).
Notice For California Users
Notice for California Users Under California Civil Code Section 1789.3, Users of the Services from California are entitled to the following specific consumer rights notice: The Complaint Assistance Unit of the Division of Consumer Services of the California Department of Consumer Affairs may be contacted (a) via email at [email protected]; (b) in writing at: Department of Consumer Affairs, Consumer Information Division, 1625 North Market Blvd., Suite N 112, Sacramento, CA 95834; or (c) by telephone at (800) 952-5210 or (800) 326-2297 (TDD). Sacramento-area consumers may call (916) 445-1254 or (916) 928-1227 (TDD). You may contact us at Eternity Foundation, 32 N Gould St Sheridan, WY 82801.
Servability
If any provision of these Terms is found by a court of competent jurisdiction to be invalid, the parties nevertheless agree that the court should endeavor to give effect to the parties' intentions as reflected in the provision, and the other provisions of these Terms remain in full force and effect.
Assignability
You may not assign the Terms without the prior written consent of the Company, but the Company may assign or transfer these Terms, in whole or in part, without restriction.
Governing Law
These Terms will be governed by the laws of the State of Wyoming without regard to its conflict of law provisions. With respect to any disputes or claims not subject to arbitration, as set forth above, you and the Company submit to the personal and exclusive jurisdiction of the state and federal courts located within Wyoming.