Terms and Conditions

These Terms and Conditions (the “Terms”) govern your access to and use of the website, token sale platform, wallet-linking services, and related services (the “Services”) provided by VALT Foundation (“VALT,” “the Company,” “we,” “us,” or “our”). These Terms set out the rights, obligations, and responsibilities between VALT and you (the “User” or “you”).

By accessing or using the Services, you are deemed to agree to these Terms and to our Privacy Policy. If you do not agree to these Terms, you must discontinue use of the Services.

I. Definitions

Services refers to token sale participation, KYC verification, wallet linking, the Referral Program, and all related ancillary services provided by VALT through the Website, mobile applications, and other designated interfaces.

Website refers to the online platform operated by VALT at www.valtfoundation.com, including all subdomains and subpages.

VALT Token refers to the utility token (ticker: VALT) issued on Vision Chain, with a total supply of 1,000,000,000, used as a means of platform fee payment, discount mechanism, staking, and governance. The purpose, allocation, and vesting conditions of the VALT Token are set out in a separate Token Utilization document.

Token Sale refers to the service through which a User may purchase VALT Tokens (including pre-sale, private sale, and public sale rounds) in accordance with the procedures and conditions set by VALT.

Account refers to the account a User creates on the Website to use the Services, activated upon email verification and completion of the KYC process.

KYC (“Know Your Customer”) refers to the identity-verification procedure (identification document/passport verification, selfie verification, etc.) carried out in accordance with applicable law and VALT’s policies.

Digital Wallet refers to the blockchain wallet address, held in the User’s own name, that the User links to the Services in order to receive, hold, or transfer VALT Tokens. VALT does not provide custodial services for a User’s Digital Wallet.

Referral Program refers to the program under which VALT may provide certain benefits, in accordance with criteria set by VALT, where an existing User refers a new User.

Prohibited Person refers to an individual or entity whose use of the Services is restricted, as defined in Article X.

II. Overview of Services

2.1. VALT provides a platform that enables Users, upon completion of the KYC process, to participate in the Token Sale and receive VALT Tokens into their own Digital Wallet.

2.2. VALT is not a virtual asset exchange, a custodial services provider, or a payment services provider, and does not hold or intermediate the sale of User assets. Users are solely responsible for managing their own Digital Wallet and private keys.

2.3. VALT may change, suspend, or discontinue all or part of the Services following prior notice (or without prior notice where urgent or required by law).

2.4. You must comply with all applicable laws relating to financial transactions, data protection, and anti-money laundering (“AML”) in connection with your use of the Services, and you must not use the Services if doing so is prohibited in your jurisdiction.

2.5. VALT uses commercially reasonable efforts to protect User information and maintain the proper functioning of the Website, but cannot guarantee absolute security of information. Users are responsible for maintaining the security of their account credentials and must notify VALT immediately upon becoming aware of unauthorized access or suspicious activity.

III. Eligibility and Account Registration

3.1 Eligibility

To use the Services and create an Account, you must satisfy all of the following conditions:

• You must be at least 18 years old, or have reached the age of majority under the laws of your jurisdiction.
• You must not reside in a country or region where use of the Services is restricted. A list of excluded countries may be obtained from VALT customer support (support@valtfoundation.com).
• You must not be a Prohibited Person as defined in Article X.
• You must provide a valid email address and contact information in accordance with the Website’s registration procedure, and accurately complete all required information.
• You must pass the identity verification and security screening procedures (KYC) required by VALT, and must promptly submit additional documents upon VALT’s request.

3.2 KYC Process

3.2.1. Submission of KYC documents (identification document or passport, selfie, etc.) is mandatory to use the Services, including participation in the Token Sale. VALT carries out the KYC process in order to comply with applicable law and AML regulations, and Users must cooperate in good faith.

3.2.2. KYC review may result in denial of approval or a request for additional documentation, and VALT will notify Users of the reason within a reasonable scope. However, VALT may withhold disclosure of specific review criteria for AML and sanctions-compliance purposes.

3.2.3. Securely processed KYC data and related documents will be retained for the minimum period required under applicable law, after which they will be destroyed. Further details on retention periods and data handling are set out in Article 3.6 and in VALT’s Privacy Policy.

3.3 Account Management

Each User may, in principle, open only one Account. If a User opens duplicate Accounts without VALT’s written consent, VALT may suspend, merge, or close such Accounts. You confirm that you are the sole beneficial owner of your Account.

3.4 Restrictions on Use by Minors

The Services are designed for adult Users and are not directed at minors. VALT exercises reasonable care to avoid collecting personal data from anyone under the age of 18, or under the age of majority in their jurisdiction. If VALT becomes aware that it has inadvertently collected personal data from a minor, it will delete that data without delay. If you believe a minor’s personal data may have been collected, please notify us at support@valtfoundation.com.

3.5 Accuracy of Account and KYC Information

You warrant that all information you provide during registration and the KYC process is true, accurate, and current, and you must update such information without delay if it changes. You are responsible for any damage arising from the provision of false information.

3.6 Relationship with the Privacy Policy

VALT collects, uses, retains, and destroys Users’ personal data in accordance with the Singapore Personal Data Protection Act (“PDPA”) and applicable law. Specific matters such as the categories of personal data collected, purposes of use, retention periods, disclosure to third parties, and how to exercise your rights are governed by VALT’s separately posted Privacy Policy. Where these Terms conflict with the Privacy Policy on matters relating to the processing of personal data, the Privacy Policy shall prevail to that extent.

IV. User Obligations and Prohibited Conduct

Users must not engage in any of the following when using the Services:

• Impersonating another person or providing false information.
• Circumventing the KYC process or submitting forged or altered documents.
• Using the Services in connection with, or for the purpose of, money laundering, terrorist financing, fraud, or other unlawful activity.
• Interfering with the proper operation of the Services or attempting unauthorized access to or intrusion into any system.
• Abusing the Referral Program in violation of applicable law, these Terms, or VALT’s policies (including false referrals, self-referral, or reward extraction using multiple accounts).
• Infringing VALT’s or a third party’s intellectual property rights, reputation, credit, or other rights.
• Advertising or marketing the Services in a manner that could cause the VALT Token to be mistaken for a security or investment product, or promoting the Services on the basis that principal or returns are guaranteed.

Where VALT confirms, or reasonably suspects, any of the foregoing prohibited conduct, VALT may restrict, suspend, or terminate an Account without prior notice.

V. User Representations and Warranties

5.1. By opening an Account or participating in the Token Sale, you represent and warrant to VALT as follows:

• You are at least 18 years old and have the legal capacity to enter into and perform these Terms.
• You are not a Prohibited Person as defined in Article 10.1.
• All information you provided during registration and the KYC process is true and accurate, and is your own information.
• The funds and assets you use in connection with the Services were lawfully obtained and are not connected with money laundering, terrorist financing, or other unlawful conduct.
• You possess sufficient knowledge and experience to understand blockchain technology, digital wallets and private-key management, and the price volatility and other risks associated with virtual assets, and you have decided whether to acquire VALT Tokens based on your own independent judgment.
• You have reviewed, on your own, the information provided in VALT’s whitepaper, website, and official community channels, and you use the Services at your own responsibility and on the basis of your own judgment.
• You understand that the VALT Token is not registered or sold pursuant to securities laws or similar legislation, and you are acquiring VALT Tokens for utility purposes within the Services, not for resale or distribution.
• The acquisition, holding, or use of VALT Tokens is not prohibited or restricted under the laws of the jurisdiction in which you are located or reside.

5.2. If any of the foregoing representations or warranties proves to be untrue, VALT may suspend or terminate your Account and cancel your participation in the Token Sale without prior notice, and VALT shall not be liable for any resulting damage to you.

VI. Token Sale Participation

6.1. Users may participate in the Token Sale in accordance with the procedures determined by VALT (including separate terms for each round, such as pre-sale, private sale, and public sale). Participation conditions, price, minimum/maximum participation limits, and lock-up and vesting conditions for each round will be announced separately on the relevant sale page and in the Token Utilization document.

6.2. Allocation and vesting of VALT Tokens (including cliff periods and linear vesting) will be executed in accordance with the schedule pre-announced by VALT, through an on-chain smart contract or another method designated by VALT, and Users agree to the lock-up periods and sequential distribution conditions under that schedule.

6.3. Users must complete the KYC process and accurately register their Digital Wallet address before participating in the Token Sale. VALT is not liable for any loss arising from a User’s registration of an incorrect wallet address.

6.4. The VALT Token is a utility token and is not a security, equity interest, bond, deposit, or other financial investment product. Purchase of VALT Tokens does not constitute any form of guaranteed return, dividend, or return of principal.

6.5. VALT may refuse or restrict a particular User’s participation in the Token Sale based on applicable law, regulatory requirements, inclusion on a sanctions list, or the outcome of KYC/AML review.

6.6 Tax Responsibility

6.6.1. Users are solely responsible for reporting and paying all taxes (including, without limitation, income tax, capital gains tax, value-added tax, and customs duties) that may arise in their jurisdiction in connection with the purchase, holding, transfer, or disposition (including sale, staking, and receipt of staking rewards) of VALT Tokens.

6.6.2. VALT does not provide tax advice, and Users should seek independent tax advice where necessary. VALT is not liable for any damage arising from a User’s failure to report or pay taxes.

6.6.3. Where applicable law imposes a withholding or tax-reporting obligation on VALT, VALT may take necessary measures within the scope required by that law.

6.7 Action in Response to Regulatory Change

6.7.1. Where VALT reasonably determines that a change in applicable law, regulatory guidance, or licensing requirements makes it difficult or unlawful to provide the Services in a particular jurisdiction, VALT may restrict, suspend, or terminate the Services for Users in that jurisdiction, following prior notice (or without prior notice in urgent cases).

6.7.2. In such cases, VALT will endeavor to take reasonable measures permitted under applicable law (such as arranging a refund or an alternative distribution method for undistributed tokens).

6.8 Relationship with Separate Agreements

Where VALT provides a separate Token Purchase Agreement or equivalent written agreement for a particular round of the Token Sale, that agreement shall prevail over these Terms to the extent of any conflict. For rounds where no separate agreement has been entered into, these Terms shall apply.

VII. Payment, Refunds, and Cancellation

7.1. The payment method, payment currency, and payment procedure for Token Sale participation shall be as announced for the relevant sale round.

7.2. As a general rule, refunds are restricted once payment for Token Sale participation has been completed and KYC review has been approved. However, the following are treated as exceptions:

• Where the Token Sale is cancelled or indefinitely postponed due to VALT’s fault.
• Where a User’s KYC review is ultimately denied such that the User does not meet the eligibility requirements for the Services (excluding cases where the User is at fault, such as by providing false information).
• Where a refund is mandated by applicable law.
• Where VALT discontinues the Services pursuant to Article 6.7 (Action in Response to Regulatory Change).
• Where VALT cancels the Token Sale pursuant to Article XIII (Force Majeure).

7.3. Where a refund is granted, VALT will process it within a reasonable period using the User’s original payment method, provided that unavoidable costs such as blockchain network fees may be excluded from the refund.

7.4. Users agree that, in principle, cancellation or refund is not permitted on the basis of simple change of mind after payment has been completed.

VIII. Referral Program

8.1. VALT’s products and services are offered to end Users and are not operated or promoted as a multi-level marketing program (“MLM”), pyramid scheme, chain distribution scheme, or any similar recruitment-based arrangement.

8.2. The Referral Program is designed as a single-tier marketing mechanism intended to reward genuine activity related to the use and promotion of the Services, not the mere act of introducing or recruiting other participants. No participant is required to purchase any product, pay any fee, or make any investment in order to refer others, and no compensation is paid solely for building a downline or for recruiting participants.

8.3. Participants must promote VALT’s offerings in a truthful and non-misleading manner, and must comply with applicable advertising, consumer-protection, and unfair-trade-practice laws.

8.4. Where VALT reasonably believes that a participant’s activities (including marketing practices) could cause the Referral Program, or the participant, to be characterized as an MLM, pyramid scheme, or other prohibited or regulated scheme, VALT may suspend, withhold, adjust, or revoke referral benefits and terminate the participant’s eligibility.

IX. Intellectual Property

9.1. The Website, the Services, and VALT’s logos, trademarks, content, and all related intellectual property rights belong to VALT or its rightful owners.

9.2. Users may not reproduce, distribute, transmit, modify, or commercially exploit content from the Website or the Services without VALT’s prior written consent.

X. Account Suspension and Termination

10.1 Prohibited Person

A “Prohibited Person” means any individual or entity that falls within one or more of the following categories, as determined at VALT’s sole discretion:

• Any person who fails to satisfy VALT’s KYC or anti-money-laundering (AML) procedure requirements.
• Any person who qualifies as a “US Person” under applicable law, including United States citizens and residents, entities organized under the laws of the United States or any of its territories, and any account held for the benefit of a US Person.
• Any person or entity organized, located, or resident in a country or region subject to comprehensive sanctions or embargoes, including without limitation the Democratic People’s Republic of Korea (North Korea), Iran, Cuba, Syria, Russia, Belarus, Myanmar, and the Crimea/Sevastopol, Donetsk, and Luhansk regions of Ukraine.
• Any person or entity located, resident, or organized in a country or region designated by the Financial Action Task Force (“FATF”) as a High-Risk Jurisdiction subject to a Call for Action, or subject to Increased Monitoring (the current list is maintained on the official FATF website, and VALT’s application of this provision is automatically updated as that list is revised).
• Any person or entity listed on the US Treasury OFAC Specially Designated Nationals (SDN) List, the US Department of Commerce Denied Persons/Entity List, the US Department of State Debarred Parties List, any UN Security Council sanctions list, or any equivalent list maintained by a government authority.
• Any person or entity designated as, or listed on any register of, a terrorist organization.

VALT may update the foregoing list of countries and regions from time to time in line with amendments to applicable sanctions law and the FATF lists, and the current list is available on the Website or through customer support.

10.2 Grounds for Suspension and Termination

VALT may refuse to open an Account, suspend or terminate an existing Account, or decline a transaction request, for reasons including, without limitation, the following:

• Violation of these Terms.
• Non-compliance with AML/CTF-related law.
• Reasonable suspicion of money laundering, terrorist financing, or other criminal or unlawful activity.
• Suspicion that the Services are being used for a prohibited activity.
• Circumstances that have caused, or are likely to cause, harm to VALT, the operation of the Services, or other Users.
• The User being a Prohibited Person.
• Failure to provide requested information regarding the source of funds where such an explanation is required.
• A confirmed breach of Article V (Representations and Warranties).

10.3. Where VALT decides to suspend or terminate an Account, VALT will notify the User of the reason, within a reasonable scope, using the contact information provided at registration as promptly as practicable, and Users may raise an objection where permitted under applicable law.

XI. Risk Disclosure

By using the Services, you acknowledge and agree that you understand the following risks relating to the Services and the VALT Token:

• The price of the VALT Token is highly volatile, and VALT does not guarantee any increase in token value, liquidity, or exchange listing.
• VALT does not guarantee that the RWA (real-world asset) yields, business roadmap, or regulatory approvals described in the whitepaper will be achieved on any particular timeline in any particular jurisdiction.
• Blockchain and smart contract technology itself carries inherent technical risks, including vulnerabilities, hacking, and network failures.
• Laws and regulatory environments relating to virtual assets differ across jurisdictions and are subject to change, which may affect the provision of the Services and the availability of the VALT Token.
• If you lose or expose your Digital Wallet’s private key or seed phrase, VALT has no obligation to recover it or compensate you for any resulting loss.

What VALT does guarantee is limited to the on-chain mechanisms specified in the whitepaper — the fee discount, buyback-and-burn, and staking reward distribution mechanisms — operating as specified, and to VALT regularly and transparently disclosing related financial flows.

XII. Disclaimer of Warranties and Limitation of Liability

12.1. The Services are provided “AS IS” and “AS AVAILABLE.” VALT does not warrant, expressly or impliedly, the merchantability, fitness for a particular purpose, accuracy, or uninterrupted availability of the Services.

12.2. To the maximum extent permitted by applicable law, VALT and its officers, employees, and agents shall not be liable for any indirect, consequential, incidental, or punitive damages, or for loss of profit, loss of data, or decline in token value, arising from use of, or inability to use, the Services.

12.3. Except in the case of VALT’s willful misconduct or gross negligence, VALT’s total liability to a User shall not exceed, to the extent permitted by applicable law, the amount actually paid by that User to VALT during the twelve (12) months preceding the date the relevant damage arose.

12.4. This Article does not apply to liability that cannot be excluded or limited under applicable law (for example, liability for willful misconduct or gross negligence, or liability arising under mandatory consumer-protection law).

XIII. Force Majeure

13.1. VALT shall not be liable for any delay in, or failure to perform, its obligations under these Terms to the extent such delay or failure results from causes beyond VALT’s reasonable control, including without limitation acts of God, war, terrorism, riot, governmental action or regulatory change, outages, halts, forks, or reorganizations of a blockchain network, unforeseen malfunction of a smart contract, internet or telecommunications failure, power failure, failure of a utility or third-party service provider (such as cloud infrastructure or payment networks), cyberattack or hacking, or pandemic (each, a “Force Majeure Event”).

13.2. Where a Force Majeure Event occurs, VALT will notify Users to the extent reasonably practicable and may suspend performance of the affected obligations until the Force Majeure Event is resolved.

13.3. If a Force Majeure Event continues for a substantial period (for example, 60 days or more), VALT may cancel the affected Services (such as a particular Token Sale round), in which case the matter will be handled in accordance with the exceptions set out in Article 7.2.

XIV. Indemnification

14.1. Users shall defend and indemnify VALT and its officers, employees, agents, and affiliates (collectively, “Indemnified Parties”) against any claim, damage, liability, or cost (including reasonable attorneys’ fees) arising from any of the following:

• The User’s breach of these Terms.
• The User’s violation of Article IV (Prohibited Conduct).
• Any representation or warranty made by the User under Article V (Representations and Warranties) proving false or inaccurate.
• The User’s violation of applicable law.
• Unauthorized access to the User’s Account or Digital Wallet resulting from the User’s negligence.

14.2. VALT reserves the right, at the User’s expense, to assume or participate in the defense of any claim otherwise subject to indemnification by the User.

XV. No Investment Advice

15.1. All information provided through the Services, Website, whitepaper, and official community channels is for general informational purposes only and does not constitute investment, legal, tax, or other professional advice.

15.2. VALT does not recommend that any User purchase, hold, or dispose of VALT Tokens, and each User must make such decisions based on their own independent judgment and responsibility. Please seek independent legal, financial, or tax advice where necessary.

XVI. Assignment

16.1. Users may not assign their rights or obligations under these Terms to any third party without VALT’s prior written consent.

16.2. VALT may assign its rights and obligations under these Terms to a third party, following prior notice to Users, in connection with a merger, business transfer, asset transfer, or corporate reorganization.

XVII. Dispute Resolution and Governing Law

17.1. The formation, validity, interpretation, and performance of these Terms are governed by the laws of Singapore, without regard to its conflict-of-laws principles.

17.2. Any dispute arising out of or in connection with these Terms or the use of the Services shall first be addressed through good-faith consultation between the parties.

17.3. Disputes not resolved through consultation shall be finally resolved by arbitration in Singapore in accordance with the Arbitration Rules of the Singapore International Arbitration Centre (“SIAC”). The tribunal shall consist of one arbitrator, and the language of the arbitration shall be English. The arbitral award shall be final and binding on the parties and may be enforced in any court of competent jurisdiction.

17.4. Notwithstanding the foregoing, VALT may bring an action directly before a court of competent jurisdiction where urgent interim relief, such as an injunction, is required in connection with infringement of VALT’s intellectual property rights or misuse of the Services.

XVIII. General Provisions

18.1. (Amendment) VALT may amend these Terms at any time in its sole discretion. Amended Terms will be posted on the Website, and continued use of the Services after such amendment constitutes acceptance of the amended Terms.

18.2. (Notices) Legal notices, claims, or other legal communications should be sent to legal@valtfoundation.com. Compliance and regulatory inquiries should be sent to privacy@valtfoundation.com (for personal-data matters) or support@valtfoundation.com (for general inquiries).

18.3. (Severability) If any provision of these Terms is held invalid or unenforceable by a court of competent jurisdiction or an arbitral tribunal, the remaining provisions shall remain in full force and effect.

18.4. (Entire Agreement) These Terms constitute the entire agreement between VALT and the User regarding use of the Services, and supersede all prior oral or written agreements.

18.5. (No Waiver) VALT’s failure to exercise, or delay in exercising, any right under these Terms shall not be deemed a waiver of that right.

18.6. (Language) These Terms are provided in both Korean and English. In the event of any discrepancy between the two versions, the English version shall prevail.