Agreement for Sale of Tokens
This Agreement is entered into by and between Cortensor (the “Company”) and the Buyer for the sale of Cortensor’s $COR token (the “Token”). $COR is currently designated as a testnet/devnet token for developmental purposes only, with no guarantees of transition to a mainnet token.
1. Nature of Tokens
The $COR token is intended solely for use within Cortensor’s testnet/devnet environment to facilitate network participation, non-commercial testing, and access to various services offered by the platform. $COR tokens are not securities, investments, or financial assets and should not be purchased with the expectation of financial gain. Cortensor disclaims all liabilities associated with token value, utility, or speculative purposes.
2. Testnet/Devnet Token Designation
$COR is specifically designated as a testnet/devnet token at this time. It is intended only for experimental, non-commercial use in the developmental stages of the Cortensor ecosystem. Cortensor makes no guarantees about the future of $COR or its transition to a mainnet version. Any current token value, transferability, or utility is limited to the testnet/devnet network.
3. Potential Mainnet Transition
Cortensor reserves the right to issue or transition $COR to a mainnet token if the platform progresses to mainnet status. No continuity or conversion between testnet/devnet tokens and potential mainnet tokens is guaranteed. If Cortensor transitions to mainnet, any token migration will be governed by updated terms, which may differ from this Agreement. Buyers of testnet/devnet $COR have no automatic claim to mainnet tokens.
4. No Guarantee of Token Value or Financial Gain
Cortensor disclaims any guarantee of $COR token value, stability, or financial potential in both testnet/devnet and potential mainnet settings. The $COR token is intended solely for network participation, not as a speculative or financial asset. Any perceived value is incidental to its testnet functionality and does not imply any financial benefit.
5. Buyer Responsibilities
Buyers must perform due diligence and consult legal and financial advisors before engaging with Cortensor’s testnet/devnet tokens. This Agreement does not provide financial, legal, or investment advice. All responsibilities and risks lie with the Buyer for using or purchasing $COR tokens in this developmental environment.
6. Modification and Transfer Restrictions
Transferability of $COR tokens is restricted to usage within the Cortensor testnet/devnet. Tokens are non-transferable outside the platform and must be used within compliance guidelines. Cortensor may, at any time, modify token utility, access, or functionality as deemed necessary.
7. No Inducement to Purchase
Cortensor’s materials, including its website and technical documentation, should not be interpreted as inducements to purchase tokens. The purchase of $COR tokens should be based solely on current platform functionality, without expectation of profit or future token value.
8. Acknowledgment of Risks
Buyers acknowledge that participation in Cortensor’s testnet/devnet environment and token-related activities involves substantial risk, including the potential loss of all funds spent on token purchases. Cortensor assumes no responsibility for token liquidity, market fluctuations, or speculative losses associated with $COR.
9. Release of Liability
By accessing or using Cortensor’s materials, users agree to release Cortensor, its affiliates, officers, directors, employees, agents, and successors from any claims, losses, liabilities, damages, costs, or expenses resulting from their engagement with the platform, network, or $COR tokens. This release applies to all potential financial, legal, or operational impacts associated with the testnet/devnet tokens.
10. Governing Law and Dispute Resolution
This Agreement is governed by Panamanian law. Any disputes arising from or related to this Agreement shall be resolved exclusively through arbitration in Panama, under Panamanian jurisdiction. Cortensor is not subject to any other jurisdiction and does not offer any claims or protections outside Panama.
11. Modification and Notice
Cortensor reserves the right to modify this Agreement or any terms related to the use of $COR tokens. Any changes will be effective immediately upon posting on Cortensor’s website. Buyers and users of $COR are responsible for periodically reviewing the terms and remain bound by all modifications.
Acknowledgment and Acceptance
By purchasing, accessing, or using $COR tokens, you acknowledge that you have read, understood, and agree to the terms of this Agreement, including all disclaimers, liability releases, and jurisdictional limitations.
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