Open AppStart Trading

Migration Terms

Effective Date: 1. December 2024

1. Scope of Agreement

These terms and conditions ("Terms") govern the migration of JAV tokens from the DeFi Meta Chain ("DMC") to a new blockchain platform ("Base"). By participating in the token migration process, you ("Participant") agree to be bound by these Terms.

2. Migration Process

2.1 Eligibility:

  • The migration is open to all JAV token holders as of the migration start date.

  • Participation is optional but strongly recommended to benefit from future development and rewards on Base.

2.2 Timeline:

  • The migration period will commence on 10 December 2024 and remain open for six (6) months.

  • Tokens not migrated within this window will remain on DMC without further development or support.

2.3 Token Conversion:

  • Each JAV token on DMC will be converted to an equivalent JAV token on Base at a 1:1 ratio.

  • Migration must be completed for each wallet/address separately.

2.4 Migration Steps:

  • Participants must opt into the migration via the designated interface on the Javsphere platform.

  • Tokens on DMC will be locked into a migration contract, and equivalent tokens on Base will be minted.

  • Gas fees (in ETH) are required to complete the migration. The user must provide ETH on Base in a small amount.

3. Rewards and Vesting

3.1 Paused Rewards on DMC:

  • Rewards for StakeX and CryoVault products on DMC will be paused during the migration period.

3.2 Rewards on Base:

  • Rewards for migrated tokens will begin as early as seven (7) days after migration starts on Base.

  • Vesting Freezer products (10m and 20m) will have a six (6)-month vesting cliff from the individual migration date.

3.3 Vesting Cliff Details:

  • The six (6)-month vesting cliff means that the vesting process will be halted during this period.

  • After the six (6)-month cliff, vesting will resume from where it left off prior to the migration.

  • The vesting cliff applies equally to all tokens subject to vesting, ensuring equitable conditions for all participants.

3.4 Fair Participation:

  • All participants, including those holding tokens in vesting, will be subject to the same vesting cliff to ensure equitable conditions.

4. Irreversibility of Migration

  • The migration process is irreversible. Tokens converted to Base cannot be exchanged back to DMC.

  • Tokens on DMC will be permanently locked and burned upon migration.

5. Disclaimer and Risk Assumption

5.1 No Guarantee of Value:

  • Javsphere makes no guarantees regarding the future value of tokens on Base.

  • Participants acknowledge that the migration does not constitute an investment opportunity.

5.2 Assumption of Risk:

  • Participants bear all risks associated with migration, including potential delays, technical errors, or loss of gas fees due to insufficient wallet balances.

6. Legal Compliance

6.1 Jurisdictional Restrictions:

  • Participants residing in restricted jurisdictions (as defined in the Javsphere Terms of Service) are prohibited from participating in the migration.

  • It is the Participant's responsibility to comply with all applicable laws and regulations.

6.2 No Fiduciary Duties:

  • Javsphere provides the migration process on a non-custodial basis and assumes no fiduciary duties to Participants.

7. Liability and Indemnification

7.1 Limitation of Liability:

  • Javsphere shall not be held liable for any losses, including but not limited to, token devaluation, missed migration deadlines, or technical failures.

7.2 Indemnification:

  • Participants agree to indemnify and hold harmless Javsphere and its affiliates from any claims or damages arising from their participation in the migration.

8. Governing Law and Dispute Resolution

8.1 Governing Law:

  • These Terms shall be governed by and construed in accordance with the laws of the British Virgin Islands (BVI).

8.2 Arbitration:

  • Any disputes arising from these Terms shall be resolved through binding arbitration in accordance with the Arbitration Act, 2013 of the BVI.

9. Amendments and Updates

  • Javsphere reserves the right to amend these Terms at any time. Amendments will be communicated via the official Javsphere website.

Acknowledgment and Agreement

By initiating the migration process, you acknowledge that you have read, understood, and agreed to these Terms.

Last updated