Common use of Forks Clause in Contracts

Forks. You agree and understand that the underlying protocols of supported cryptocurrency networks are subject to changes in operating rules or other valid operational protocol (a so-called “Fork”) that may result in more than one version (each, a “Forked Network”) and SAFE holding an identical amount of cryptocurrency associated with each Forked Network. You further agree and understand that Forks may materially affect the value, function, and/or name of the cryptocurrency you may have with SAFE . In the event of a Fork, you agree and understand that SAFE may temporarily suspend our operations (with or without advance notice to you) while it chooses, in our sole and absolute discretion, which Forked Networks to support. You agree and understand that in our best estimation SAFE is unlikely to support most Forked Networks and that the cryptocurrency of most Forked Networks will likely not be made available to you. You acknowledge and agree that if SAFE determines in its sole discretion to not support a Forked Network (each, an “Unsupported Forked Network”) you have no right, claim, or other privilege to any cryptocurrency of the Unsupported Forked Network. With regard to an Unsupported Network SAFE may, in its sole discretion, elect to: a) Abandon or otherwise not pursue obtaining cryptocurrency of the Unsupported Forked Network; b) Determine your balance at the time of the Fork, account for the resulting cryptocurrency as your property, and make them available to you via a one-time withdrawal mechanism, subject to the withholding and retention by us of any amount reasonably necessary, as determined in our sole discretion, to fairly compensate us for the efforts expended to make such cryptocurrency available; or c) In rare circumstances, pursue and retain the resulting cryptocurrency as belonging solely to us. You acknowledge and agree that SAFE will only notify you in the event that it elects to pursue option (b). In order to ensure access to cryptocurrency related to both Forked Networks following a Fork, you must withdraw your cryptocurrency prior to any Fork.

Appears in 1 contract

Sources: Terms of Service

Forks. You agree and understand that the underlying protocols of supported cryptocurrency networks are subject to changes in operating rules or other valid operational protocol (a so-called “Fork”) that may result in more than one version (each, a “Forked Network”) and SAFE sFOX holding an identical amount of cryptocurrency associated with each Forked Network. You further agree and understand that Forks may materially affect the value, function, and/or name of the cryptocurrency you may have with SAFE sFOX. In the event of a Fork, you agree and understand that SAFE sFOX may temporarily suspend our operations (with or without advance notice to you) while it chooses, in our sole and absolute discretion, which Forked Networks to support. You agree and understand that in our best estimation SAFE SFOX is unlikely to support most Forked Networks and that the cryptocurrency of most Forked Networks will likely not be made available to you. You acknowledge and agree that if SAFE sFOX determines in its sole discretion to not support a Forked Network (each, an “Unsupported Forked Network”) you have no right, claim, or other privilege to any cryptocurrency of the Unsupported Forked Network. With regard to an Unsupported Network SAFE SFOX may, in its sole discretion, elect to: a) Abandon or otherwise not pursue obtaining cryptocurrency of the Unsupported Forked Network; b) Determine your balance at the time of the Fork, account for the resulting cryptocurrency as your property, and make them available to you via a one-time withdrawal mechanism, subject to the withholding and retention by us of any amount reasonably necessary, as determined in our sole discretion, to fairly compensate us for the efforts expended to make such cryptocurrency available; or c) In rare circumstances, pursue and retain the resulting cryptocurrency as belonging solely to us. You acknowledge and agree that SAFE sFOX will only notify you in the event that it elects to pursue option (b). In order to ensure access to cryptocurrency related to both Forked Networks following a Fork, you must withdraw your cryptocurrency prior to any Fork.

Appears in 1 contract

Sources: Terms of Service