Terms of Use

Last updated: March 2024

We are Modak (“Company,” “we,” “us,” “our”), and our service is provided to you to enable you to issue tokens by using communication services on the Web3 environment.

We operate modak.town, the dApp and website service (the “Service”), as well as any other related products and services that refer to these obligations (the “Obligations”) (collectively, the “Services”).

These are the Terms and Conditions that govern the use of this Service and the agreement between You and the Company. By accessing and using the Service, You agree to comply with these Terms and Conditions. If You disagree with any part of these Terms, You may not access the Service.

Please note that we may update these Terms of Use from time to time to reflect changes in our services, legal requirements, or other reasons. Any updates to these Terms will be made available on our 'Terms of Service' page, and we encourage you to review them periodically to stay informed about any changes."

Key Definitions:

  • Company refers to any entity to these terms of use.

  • Services refers to the interface to enable users to interact with the Modak smart contracts to explore/purchase/sell/manage $WOOD Tokens.

  • $WOOD (“WOOD”) refers to the tokens of the our platform used as the key currency on the MODAK blockchain platform.

  • Wallet is the wallet service based on blockchain technology that allows users to send and store tokens.

  • Wallet Address means a unique key of any blockchain wallet.

1. Acceptance of Terms

By accessing or using the Service, you acknowledge that you have read, understood, and agree to be bound by these Terms. These Terms may be updated or modified from time to time, and it is your responsibility to review them regularly.

2. Eligibility

To use the Service, you must adhere to the following requirements:

a. You must not engage in profanity, harassment, or any form of abusive language or behavior while using the Service.

b. You must not use the Service for any illegal activities, including but not limited to fraud, money laundering, or any activities that violate applicable laws and regulations.

By using the Service, you confirm your adherence to these eligibility requirements. Failure to comply with these requirements may result in the termination of your account and access to the Service.

3. Your Account

To access certain features of the Service, you may be required to create an account. You are responsible for maintaining the confidentiality of your account information, including your private keys and passwords. You are also responsible for any activity that occurs under your account.

4. Token Usage

The $WOOD (“WOOD”) is a digital asset that may be used within the Service. It is important to note that WOOD should be utilized solely for accessing and utilizing the features and services provided by the Service. It is not intended for speculative trading or investment purposes. Users are prohibited from engaging in any activities that may undermine the intended use of the token, including but not limited to trading the token on external exchanges, or any activities that violate these Terms and the Service's policies.

5. Dapp Usage

Modak provides users with access to a decentralized application (“Dapp,” or “dApp”) designed to help users communicate online including video chat and other features. To make the most of your experience with our Dapp, please consider the following:

  • Explore Features: Take the time to explore the various features and functionalities our Dapp offers. Familiarize yourself with how to ask a coffee chat for (business) opportunities, chat with your friends, earn $WOOD, etc.

  • Security Measures: Ensure the security of your account and assets by using strong and unique passwords. Never share your private keys or personal information with anyone.

  • Stay Informed: Stay up to date with any notifications, announcements, or changes to the Dapp's functionality by visiting our website or official communication channels.

6. Wallet Usage

Modak requires a digital wallet login to interact with $WOOD and access the Modak services. Here's what you should know about using a digital wallet:

Choosing a Wallet: It's essential to select a reliable and secure digital wallet that is compatible with our dApp. Make sure you use the wallet that is secure and compatible.

  • Backup Your Wallet: Regularly backup your wallet's private keys or recovery phrases in a safe and secure location. This will help you regain access to your assets in case of loss or device failure.

  • Security Practices: Be vigilant about wallet security. Avoid clicking on suspicious links or sharing your wallet information with any other unknown sources. Modak team will never ask for your wallet's private keys or sensitive information.

  • Transfers and Transactions: Use your wallet to initiate transfers or transactions within the dApp. Always double-check recipient addresses to ensure accuracy and prevent mistakes.

7. Risks

Using blockchain technology and cryptocurrency involves certain considerations related to security and privacy. While the Service is committed to maintaining a secure environment, it's important to be aware of the following:

a. Security and Privacy: Cryptocurrency transactions are irreversible, and your wallet and personal information should be safeguarded diligently. Protecting your wallet's private keys and personal data is paramount to ensure the security of your assets.

b. Value Volatility: The value of the token associated with the Service may experience fluctuations, but it's important to understand that it's not listed at this time.

c. No Financial or Legal Advice: The Service does not provide financial or legal advice. Users should exercise caution, conduct their own research, and prioritize the security and privacy of their assets while using the Service.

It's essential to remain well-informed about potential security and privacy considerations and to use the token responsibly for its intended purposes. Your responsibility includes managing and safeguarding your assets and personal information.

8. Service Disclaimer

Please note that the Modak is a decentralized application that operates on blockchain technology. As such, it may experience occasional downtime, technical issues, or updates. While we make every effort to provide a secure and reliable service, the decentralized nature of the platform means that it may not always function flawlessly. Users should be aware that the Dapp's performance may vary, and it is important to use the service with an understanding of these inherent technical aspects. We encourage users to exercise caution, conduct their own research, and stay informed about any updates or changes to the Dapp's functionality.

9. Service Availability

The Service is provided on an "as is" and "as available" basis. We do not guarantee uninterrupted or error-free access to the Service. We may temporarily or permanently suspend or terminate the Service at our discretion.

10. Intellectual Property

All content and materials provided by the Service, including but not limited to software, text, graphics, and logos, are the intellectual property of Modak DAO. You may not use, reproduce, or distribute these materials without our express consent.

11. Prohibited Activities

You agree not to:

  • Use the Service for any unlawful or fraudulent purpose.

  • Violate any applicable laws or regulations.

  • Attempt to gain unauthorized access to the Service or other users' accounts.

  • Engage in any activity that may disrupt or harm the Service or its users.

12. Limitation of Liability

To the fullest extent permitted by law, Modak DAO shall not be liable for any direct, indirect, incidental, consequential, or special damages arising from or related to the use of the Service.

13. Termination

We reserve the right to terminate or suspend your account and access to the Service at our discretion, without prior notice, for any violation of these Terms.

14. Governing Law

These Terms are governed by and construed in accordance with the laws of the appropriate legal jurisdiction. Any disputes, claims, or legal actions arising from or related to these Terms, the Service, or your use of the Service, shall be subject to the exclusive jurisdiction of the courts in the same legal jurisdiction. By using the Service, you agree to submit to the jurisdiction of these courts and waive any objections or claims of inconvenient forum.

15. Contact Information

For any questions or concerns regarding these Terms, please contact us at support@modak.town

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