Terms and Conditions for Submitting & Challenging Proposals

1. ACCEPTANCE OF TERMS

These Terms & Conditions constitute an agreement between the Proposal Creator or the Challenger (both may be referred to as “You” in terms and conditions that are applicable for both individuals) and TEC (“We” or “TEC”), which resides on the Gnosis Chain (formerly xDAI network), regarding either the submission of or challenging a Proposal to TEC.

“Proposal Creator” is any individual who submits a Proposal to TEC Garden for Conviction Voting, while “Challenger” is anyone who disputes or challenges a submitted Proposal to the TEC Garden.

“Proposal” means any project requesting funding for creating and coordinating value for the Token Engineering field submitted to the TEC Garden via our Conviction Voting System.

By accessing and using TEC, you accept and agree to be bound by these Terms & Conditions and all applicable laws of your jurisdiction and all of it as it may be modified, changed, supplemented or updated from time to time. Please read these Terms & Conditions (“Terms”) before submitting or challenging a Proposal to TEC.

If you do not agree with the Terms, you shall not submit or challenge a Proposal to TEC.

2. MODIFICATIONS OF TERMS OF USE

The TEC community reserves the right, at its sole discretion, to modify or replace these Terms & Conditions at any time. The most current version of these Terms will be posted on our Forum. You shall be responsible for reviewing and becoming familiar with any such modifications. Submission of or disputing Proposals after any modification to the Terms constitutes your acceptance of the Terms & Conditions as modified. To participate in TEC you are assumed to have read and accepted these Terms.

3. ELIGIBILITY

As a Proposal Creator or Challenger, you represent and warrant that you: (a) are of legal age to form a binding contract; (b) have not previously been suspended or removed from using the TEC Garden; and (c) have full power and authority to enter into this agreement and in doing so will not violate any other agreement to which you are a party.

By submitting or challenging a Proposal, you represent and warrant that you will not submit or challenge a Proposal if the laws applicable to you due to your country of residency and/or citizenship prohibit you from doing so in accordance with these Terms.

Pursuant to applicable laws and regulations, the TEC community maintains the right to select its markets and jurisdictions to operate and may restrict or deny Proposal submission/disputes from certain countries at its discretion.

US residents or those domiciled in the US are prohibited from using the Site. Further, residents or domiciliaries of any country embargoed or restricted by Alderney may not use this Site, including, Belarus, Burundi, Central African Republic, Congo, DPRK (North Korea), Guinea, Guinea-Bissau, Iran, Iraq, Lebanon, Libya, Mali, Myanmar(Burma), Republic of South Sudan, Somalia, Sudan, Syria, Ukraine, Venezuela, Yemen, Zimbabwe.

4. PROPOSAL GUIDELINES

All proposals are bound by the TEC Covenant. If you haven't taken the time to read through it yet, please make sure you do so. To participate in TEC you are assumed to have read, understood and agreed to be bound by the TEC Covenant.

Before submitting a Proposal, the Proposal Creator must first create a post on the TEC Forum. This post should explain why the Proposal is beneficial to the community and (if applicable) what the requested funds will be used for. Only submitted Proposals linked to a post in the Forum are subject to Conviction Voting.

5. DEPOSIT AND OTHER FEES

a) “Deposit Manager” - The Proposal Creator or the Challenger will be required to add TEC tokens into the TEC Garden’s Deposit Manager before submitting or challenging a Proposal. The TEC tokens in the Deposit Manager can be withdrawn at any time, as long as they are not actively being used as collateral for a “Proposal Deposit” or “Challenge Deposit”.

b) “Proposal Deposit” - When the Proposal Creator makes a Proposal, an amount of TEC tokens previously deposited in the Deposit Manager will be used as the collateral while the Proposal is being voted on to attest that the Proposal is aligned with TEC Covenant. This collateral is referred to as the Proposal Deposit.

c) “Challenge Deposit” - When the Challenger disputes a Proposal, the Challenger is required to stake some tokens as collateral. This amount is taken from the tokens the Challenger already deposited using the Deposit Manager. Backing challenges with collateral helps to ensure they have some amount of seriousness behind them. The Challenge Deposit can be forfeited in case the Celeste Keepers rule against the Challenger, if the Proposal was raised to Celeste.

Celeste, a decentralized court of DAOs built by 1hive, allows for challenged and disputed proposals to be flagged and brought to the consideration of a randomized group of jurors, called “Celeste Keepers”, ensuring that contentious proposals are not able to be passed without due process.

d) “Settlement Offer” - In case the Proposal is challenged, the Proposal Creator has a set amount of time, called the “Settlement Period”, either to dispute the challenge by raising the issue to Celeste or to resolve the challenge by paying the Settlement Offer and taking down the Proposal. The Settlement Offer will define an amount of the Proposal Deposit that will be sent to the Challenger if the Proposal is not taken to Celeste. If the Proposal Creator does not take action before the end of the Settlement Period, the Proposal is automatically considered “settled”, is removed from the voting interface, and the Proposal Creator gets back the Proposal Deposit minus the Settlement Offer.

e) “Gas Fees” - All Proposals are subject to varying gas fees required by the Gnosis Chain to carry out transactions. “Gas Fees” refers to the cost necessary to perform a transaction on the network. Gas Fees are set by the user at the time of transaction and are dependent on supply and demand for the computational power of the network needed to process smart contracts and other transactions on the network, therefore, ​TEC shall not have any liability for the determination of Gas Fees, nor does it receive any compensation related to them.

6. DISPUTABILITY

A dispute can be created by another community member (the Challenger) by challenging the Proposal and committing TEC tokens and HNY (1Hive’s token honey) to support the dispute.

If after being challenged, the Proposal Creator agrees to pay the Challenger the Settlement Offer and withdraw the Proposal, the Proposal Deposit will be returned to the Proposal Creator minus the Settlement Offer.

If after being challenged and the Proposal Creator fails to take any action before the Settlement Period ends, the Challenger’s dispute is considered valid and the Proposal Creator will be considered to have accepted the Settlement Offer. The Proposal is withdrawn and the Proposal Deposit will be returned to the Proposal Creator minus the Settlement Offer.

If after being challenged and the Proposal Creator decides to counter-challenge the dispute by staking HNY, Celeste will be used to settle the dispute while the Proposal Creator retains the right to appeal that decision. If the Celeste Keepers would rule in favor of the Proposal Creator, the Proposal Creator can be rewarded the Challenger’s Deposit.

Celeste Keepers are expected to review all disputed Proposals, the TEC Covenant, evidence submitted by the Proposal Creator and Challenger, and related past disputes in order to provide a judgment that they feel best aligns with the established norms and intention of the TEC community.

7. PARTNERSHIPS

Each Proposal Creator and Challenger acknowledges and agrees that these Terms do not constitute a partnership agreement of any kind. Despite this, in the event that a court or tribunal determines any aspect of these Terms is found to constitute or cause a partnership to arise, you hereby waive any rights against each other partner in respect of the released Claims howsoever arising, including any obligation to account or account for any profit or loss or any other cause of action that a partner would have against another partner in the context of a partnership.

8. PLATFORM SECURITY

Gnosis Chain, in which the TEC resides, is provided on an “as is” basis. You acknowledge and agree that using the Gnosis Chain or submitting/challenging a Proposal is at your own discretion and risk and that you assume full responsibility for use of the Gnosis Chain.

TEC disclaims all warranties of any kind, expressed or implied, including, but not limited to, the warranties of merchantability, fitness for a particular purpose, and non-infringement. You understand and agree that TEC doesn’t warrant: (i) that any information provided by you is complete, accurate, or useful; (ii) that the Gnosis Chain will be operational or free from failures, disruptions, errors, or delays, including without limitation processing any kind of activity; (iv) that the Gnosis Chain will be secure, safe, or free from viruses or other malicious code being introduced; (v) that third parties may obtain unauthorized access to information stored in the Gnosis Chain, such as your wallet address, private key, seed phrase, or personal data.

You acknowledge and accept that TEC has no control over and has no duty to take any action: (i) regarding failure of hardware, software, or Internet connections; (ii) regarding changes to or errors in the Gnosis Chain; (iii) regarding risks related to cryptographic and cryptoeconomic systems, virtual currencies, tokens, such as change in transaction costs; (iv) regarding legal or regulatory risk, inquiry, or action; (v) regarding third-party content accessed through the Gnosis Chain.

9. DISSOLUTION

The TEC can be dissolved in various ways by a TEC token holder vote. If this happens, the Proposals to the TEC will be considered null and void.

10. NO THIRD PARTY RIGHTS

You agree that, except as otherwise expressly provided in these Terms, there shall be no third-party beneficiaries to the Terms. The Terms & Conditions will not be construed as creating or implying any relationship of agency, franchise, partnership, or joint venture between you and TEC, except and solely to the extent expressly stated in these Terms.

11. GENERAL RISKS

You are fully aware of, understand and agree to assume all the risks (including direct, indirect or ancillary risks) associated with participating in the TEC including:

11.1 THE NECESSITY FOR YOU TO TAKE YOUR OWN SECURITY MEASURES FOR THE ADDRESS USED TO PARTICIPATE TO AVOID A LOSS OF ACCESS: The TEC does not provide any central entity that can store or restore the access data of TEC Proposal Creators and Challengers. You need to keep your private keys, seed phrases or other credentials necessary to access your public address in safe custody.

11.2. THE IMMUTABILITY AND IRREVERSIBILITY OF GNOSIS TRANSACTIONS: Errors, false inputs or other errors are solely the responsibility of each individual TEC Proposal Creator and Challenger. Neither the TEC nor any of its affiliates and service providers, and each of their respective community members shall have an obligation whatsoever to reverse or assist to reverse any false transaction.

11.3. REMAINING SMART CONTRACT RISKS: DESPITE SECURITY AUDITS, THERE MAY BE VULNERABILITIES IN THE DEPLOYED SMART CONTRACTS: You may experience damage or loss (including financial loss) caused by the existence, identification and/or exploitation of these vulnerabilities through hacks, mining attacks (including double-spend attacks, majority mining power attacks and “selfish-mining” attacks), sophisticated cyber-attacks, distributed denials of service or other security breaches, attacks or deficiencies.

11.4. THE POTENTIAL EXISTENCE OF PHISHING WEBSITES WHICH PRETEND TO BE A TEC INTERFACE DUE TO MINIMAL VARIATIONS IN SPELLING: It is your obligation to carefully check that you are accessing the correct domain.

11.5. CONSTANT AND DYNAMIC REGULATORY DEVELOPMENTS WITH REGARD TO CRYPTO ASSETS: Applicable laws may be uncertain and/or subject to clarification, implementation or change.

11.6. TRANSPARENCY OF TRANSACTIONS: Without the use of privacy-protecting systems, blockchain transactions are traceable on-chain. By using cryptanalysis methods, conclusions can be drawn about further on-chain transactions and, regularly, associations to real-world identities can be made.

12. INTERNATIONAL USERS

The Smart Contract System is controlled, operated and administered by TEC from Alderney and is not intended to subject TEC to the laws or jurisdiction of any state, country or territory other than that of the Alderney. TEC does not represent or warrant that the Smart Contract System or any part thereof is appropriate or available for use in any particular jurisdiction other than Alderney. Those who choose to access the Smart Contract System do so on their own initiative and at their own risk, and are responsible for complying with all local statutes, orders, regulations, rules, and other laws. You are also subject to Alderney export controls and are responsible for any violations of such controls, including without limitation any Alderney embargoes or other federal rules and regulations restricting exports. TEC may limit the Smart Contract System’s availability, in whole or in part, to any person, geographic area or jurisdiction we choose, at any time and in our sole discretion.

13. INDEMNITY

You agree, to the fullest extent permitted by applicable law, to release and to indemnify, defend and hold harmless TEC and its parents, subsidiaries, affiliates and agencies, as well as the officers, directors, employees, shareholders and representatives of any of the foregoing entities, from and against any and all losses, liabilities, expenses, damages, costs (including attorneys’ fees and court costs) claims or actions of any kind whatsoever arising or resulting from: (a) your participation in TEC, (b) your violation of these Terms & Conditions, (c) any of your acts or omissions that implicate publicity rights, defamation, invasion of privacy, confidentiality, intellectual property rights or other property rights, (d) any misrepresentation by you and (e) any disputes or issues between you and any third party. The TEC reserves the right, at its own expense, to assume exclusive defense and control of any matter otherwise subject to indemnification by you and, in such case, you agree to cooperate with TEC in the defense of such matter.

14. LIMITATION ON LIABILITY

You understand and agree that, to the fullest extent permitted by applicable law, neither TEC nor its subsidiaries, affiliates and agencies, as well as its Stewards, members, stakeholders or representatives of any of the foregoing entities will be liable to you for any direct, indirect, incidental, special, consequential, punitive, exemplary or other damages of any kind, including, but not limited to, damages for loss of profits, goodwill, use, data or other tangible or intangible losses or any other damages based on contract, tort (including, in jurisdictions where permitted, negligence and gross negligence), strict liability or any other theory (even if TEC had been advised of the possibility of such damages), resulting from the site or service; the use or the inability to use the site or service; unauthorized access to or alteration of your transmissions or data; statements or conduct of any third party on the site or service; any actions we take or fail to take as a result of communications you send to us; human errors; technical malfunctions; failures, including public utility or telephone outages; omissions, interruptions, latency, deletions or defects of any device or network, providers, or software (including, but not limited to, those that do not permit participation in the service); any injury or damage to computer equipment; inability to fully access the site or service or any other website; theft, tampering, destruction, or unauthorized access to, images or other content of any kind; data that is processed late or incorrectly or is incomplete or lost; typographical, printing or other errors, or any combination thereof; or any other matter relating to the site or service.

15. PUBLICITY

You agree not to issue any press release or otherwise make any public announcement related to the participation and transactions contemplated in the Conviction Voting System without the prior written approval of TEC.