Terms Of Use

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Effective Date: October 31, 2024

This Terms of Service Agreement (the “Agreement”) is made and entered into by and between you and IO.NET Inc., a Delaware corporation (the “Company”, “us”, “we”, or “our”). This Agreement sets forth the terms and conditions that govern your use of and access to the products, materials, and services provided through or on the io.net website (the “Website”), including any Company-provided computer or mobile software or application (collectively, the “Services”).

1. Acceptance of this Agreement.

1.1 Acceptance Through Using or Accessing the Services.

Please review the following terms carefully. By accessing or using the Services (or by clicking on “accept” or “agree” to this Agreement when prompted), you agree to be bound by the terms and conditions of this Agreement on behalf of yourself or the entity or organization that you represent. If you do not agree to the terms and conditions of this Agreement, you may not use or access the Services and must exit the Website immediately.

1.2 Eligibility Requirements to Use or Access the Services.

To use the Website or any other Services, you must be (i) at least 18 years old, and (ii) not be on a sanctions or restricted or prohibited list, or physically located in a country on such a list, of the United States of America, the European Union or any of its member states, or the United Kingdom including but not limited to the following countries or territories: Afghanistan, Belarus, Central African Republic, Crimea, Cuba, Eritrea, Iran, Iraq, Lebanon, Libya, Mainland China, Myanmar, North Korea,, Somalia, Syria, Sudan, the Donetsk and Luhansk regions of Ukraine.. By accessing or using the Services, you represent and warrant that you meet all the foregoing eligibility requirements. You also represent and warrant that you have the right, authority, and capacity to enter into this Agreement on your behalf or the entity or organization that you represent. If you do not meet all these requirements, you may not use or access the Services.

1.3 Changes to this Agreement.

The Company reserves the right to change this Agreement from time to time in its sole discretion without notice to you. The latest version of the Agreement will be posted on the Website and should be reviewed prior to accessing or using the Services. All changes will be effective immediately when posted on the Website and will apply to your use of and access to the Services from that point onward.

Your continued use of or access to the Services following any changes to this Agreement shall constitute your acknowledgment of such changes and agreement to be bound by the terms and conditions of such changes. You should check this page frequently so that you are aware of any changes since they are binding on you.

2. Access to the Services.

The Services may change from time to time as the Company evolve s, refines, or adds more features to the Services. The Company reserves the right to modify, withdraw, or discontinue the Services, in whole or in part, at any time without notice to you. You agree that the Company shall have no liability to you or any third party for any losses or damages caused by the Services not being available, in whole or in part, at any time or for any period.

3. Policy for Using the Services.

3.1 Prohibited Uses.

You may use the Services for lawful purposes only and in accordance with this Agreement and with the Company-provided documentation accompanying the Services. You agree not to use the Services in any way that could damage the Services or general business of the Company.

3.2 Prohibited Activities.

You further agree not to engage in any of the following prohibited activities in connection with using the Services:

(a) No Violation of Laws or Obligations.

Violate any applicable laws or regulations (including intellectual property laws and right of privacy or publicity laws) or any contractual obligations.

(b) No Unsolicited Communications.

Send any unsolicited or unauthorized advertising, promotional materials, spam, junk mail, chain letters, or any other form of unsolicited communications, whether commercial or otherwise.

(c) No Impersonation.

Impersonate others or otherwise misrepresent your affiliation with a person or entity in an attempt to mislead, confuse, or deceive others.

(d) No Harming of Minors.

Exploit or harm minors in any way, including exposing inappropriate content or obtaining personally identifiable information.

(e) Compliance with Content Standards.

Upload, display, distribute, or transmit any material that does not comply with the Content Standards set out below in this Agreement.

(f) No Interference with Others’ Enjoyment.

Harass or interfere with anyone’s use or enjoyment of the Services, or expose the Company or other users to liability or other harm.

(g) No Interference or Disabling of the Services.

Use any device, software, or routine that interferes with the proper working of the Services, or take any action that may interfere with, disrupt, disable, impair, or create an undue burden on the infrastructure of the Services, including servers or networks connected to the Website.

(h) No Monitoring or Copying of Material.

Copy, monitor, distribute, or disclose any part of the Services by automated or manual processes, devices, or means. This includes, without limitation, using automatic devices such as robots, spiders, offline readers, crawlers, or scrapers to strip, scrape, or mine data from the Website, provided, however, that the Company conditionally grants to the operators of public search engines revocable permission to use spiders to copy materials from the Website for the sole purpose of and solely to the extent necessary for creating publicly available searchable indices of the materials, but not caches or archives of such materials.

(i) No Viruses, Worms, or Other Damaging Software.

Upload, transmit, or distribute to or through the Services any viruses, Trojan horses, worms, logic bombs, or other materials intended to damage or alter the property of others, including attacking the Services via a denial-of-service or distributed denial-of-service attack.

(j) No Unauthorized Access or Violation of Security.

Violate the security of the Services through (i) any attempt to gain unauthorized access to the Services or to other systems or networks connected to the Services, (ii) the breach or circumvention of encryption or other security codes or tools, or (iii) data mining or interference to any server, computer, database, host, user, or network connected to the Services.

(k) No Reverse Engineering.

Reverse engineer, decompile, or otherwise attempt to obtain the source code or underlying information of or relating to the Services.

(l) No Collecting User Data.

Collect, harvest, or assemble any data or information regarding any other user without their consent. This includes, without limitation, their emails, usernames, or passwords.

(m) No Other Interference.

Otherwise attempt to interfere with the proper working of the Services.

(n) Attempt or Assist Others in Attempting.

Attempt any of the foregoing or assist, permit, or encourage others to do or attempt any of the foregoing.

(o) Money Laundering.

The Services shall not be used in connection with money laundering, financing illicit activities, Sanctions evasion or any other unlawful purposes.

(p) Circumvention.

Expect as directly enabled as a feature of the Services, you may not use, employ or operate bots or other forms of automation, or any techniques to modify your internet protocol address (including use of a Virtual Private Network (VPN)) or otherwise circumvent the above restrictions, when using the Services. You may not use a modified device to use the Services if the modification is contrary to the manufacturer’s software or hardware guidelines, including disabling hardware or software controls—sometimes referred to as “jailbreaking.”

(q) Scraping.

You may not “screen scrape” or otherwise use any automated means to access the Services or collect any information from the Services, except to index the public-facing portions of the Services for a search engine.

(r) Anti-aggregation.

If the Company has a reasonable suspicion that any user's devices could be jeopardizing the network integrity as a decentralized network, we reserve the right, without prior notice and at the Company’s sole discretion, to terminate their accounts and slash in part or in whole their accrued block rewards on all related accounts.

3.3 Geographic Restrictions.

You shall not access or use the Software if you are or become included on a Sanctions or restricted or prohibited list of the United States of America, the European Union or any of its member states, or the United Kingdom, or physically located in a country on such a list, including but not limited to the following countries or territories: Afghanistan, Belarus, Central African Republic, Crimea, Cuba, Eritrea, Iran, Iraq, Lebanon, Libya, Mainland China, Myanmar, North Korea, Somalia, Syria, Sudan, the Donetsk and Luhansk regions of Ukraine. You accept full responsibility for compliance with all local laws. The Company makes no representations that the Services or any of its content are accessible or appropriate in any particular jurisdiction.

3.4 Sanctions.

For purposes of this Agreement, “Sanctions” means economic or financial sanctions or trade embargoes imposed, administered or enforced from time to time by the U.S. government, including those administered by the OFAC or the U.S. Department of State, the United Nations Security Council, the European Union or His Majesty’s Treasury of the United Kingdom, or authorities in any country in which the Company does business.

“Sanctioned Person” means (a) any person or entity listed at such time in any Sanctions-related list of designated persons maintained by OFAC or the U.S. Department of State or by the United Nations Security Council, the European Union, His Majesty’s Treasury of the United Kingdom, or similar lists maintained by governments in any jurisdiction in which the Company does business, (b) any person or entity operating, organized or resident in a location that is subject to comprehensive Sanctions administered by OFAC at such time (including Cuba, Iran, North Korea, Syria, and the Crimea, Donetsk, and Luhansk regions of Ukraine) ,or (c) any entity 50% or more owned by any such person or entity described in the foregoing clauses (a) or (b) at such time.

3.5 Consequences of Misuse.

If the Company has a reasonable suspicion that you are creating a risk or possible legal liabilities or not acting in accordance with the terms of this Agreement, the Company may limit, suspend, or terminate your access to the Services, or portions thereof, and/or take technical and legal steps to prevent you from accessing or using the Services.

3.6 Patriot Act

The Company and/or its partners may have legal obligations under the USA Patriot Act or other applicable laws designed to detect money laundering or other crimes, including obligations to report suspicious activity. The Company reserves the right to deny any individual the right to access products that are otherwise available on the Services for any reason, including, without limitation, as a result of information obtained in connection with background checks and whether or not such information is accurate, truthful or complete.

4. Paid Services

4.1 Billing Policies.

Certain aspects of the Service may be provided for a fee or other charge. If you elect to use paid aspects of the Service, you agree to our displayed prices on the Site as we may update them from time to time. We may add new services for additional fees and charges, add or amend fees and charges for existing services, at any time in its sole discretion. We use Stripe and SpherePay as our third-party service provider for payment services. By using our Service, you agree to be bound by Stripe’s Services Agreement available at https://stripe.com/us/legal and Sphere’s Terms and Conditions available at https://spherepay.co/legal/terms.

4.2 Cluster Billing.

If you request a “cluster” product on the Site, you agree to a non-refundable one-hour minimum. For example, if you request five-hours of “cluster” time on the Site, and only use five-minutes, you will still be billed for one-hour.

4.3 No Refunds.

You may cancel your account at any time; however, there are no refunds for cancellation. In the event that we suspend or terminate your account or this Agreement, you understand and agree that you shall receive no refund, any unused time on a subscription, any license or subscription fees for any portion of the Service, any content or data associated with your account, or for anything else.

4.4 Taxes.

You are responsible for paying any applicable taxes, if any, relating to any such purchases, transactions or other monetary transaction interactions with the Services.

5. Third-Party Service Providers

To provide the Services, the Company may use the following service providers. You authorize the Company to share your information with these and other service providers as necessary for the provision of the Services. You authorize these service providers and their affiliates and service providers to use, disclose and retain your personal data in connection with these terms and the provision of the Services and as required by law. As a condition of the use of the Services, you agree to each of the agreements listed after each service provider.

Google (Terms, Privacy Policy)

Cloudflare (Terms, Privacy Policy)

Vercel (Terms, Privacy Policy)

AWS (Terms, Privacy Policy)

Auth0 (Terms, Privacy Policy)

Amplitude (Terms, Privacy Policy)

Stripe (Terms, Privacy Policy)

Slack (Terms, Privacy Policy)

Discord (Terms, Privacy Policy)

X (Terms, Privacy Policy)

Sentry (Terms, Privacy Policy)

Retool (Terms, Privacy Policy)

Betterstack (Terms, Privacy Policy)

Linear (Terms, Privacy Policy)

Freshdesk (Terms, Privacy Policy)

6. Block Rewards

As part of using the Service, you may be eligible to receive $IO Tokens from the Internet of GPUs Foundation (https://iog.net/) (“Block Rewards”).

The Company (in conjunction with the Internet of GPUs Foundation) reserves the right to slash users’ Block Rewards if we have reasonable ground that their devices are either:

Outright fraudulent, spoofing, using virtualization technology, VPNs, or in any manner, intentionally or inadvertently, that dishonestly misrepresenting its technical specifications; or

Not performing to the standard to be useful for the platform, including but not limited to failing the proof-of-work test, low uptime, failing to pass various technical tests administered by the Company or any other authorized party, or through any permissionless validator protocol.

The Company reserves the right, at its sole discretion and without prior notice, to terminate associated accounts, off-board involved devices, and slash in part or in whole their accrued Block Rewards on all related accounts.

Each Block Reward claim is only available for a limited time, which, by custom, usually lasts until the immediately subsequent Block Reward claim opens. The Company reserves the right at its sole discretion, with or without a cause, may decide to close the claim window early with or without prior notice.

7. Blockchain

Using the Services may require that you pay a fee to other users of the Services (such as merchants) or to the Company. Using the Services may also require that you pay a fee to parties other than users or the Company, such as gas charges on the blockchain to perform a transaction. You acknowledge and agree that the operator has no control over any such transactions, the method of payment of such transactions or any actual payments of transactions. Accordingly, you must ensure that you have a sufficient balance of the applicable cryptocurrency tokens stored at your protocol-compatible wallet address to complete any transaction on the blockchain or Services before initiating such transaction.

You accept all risks associated with your financial, cryptocurrency, and other crypto asset holdings, staking, and transfers. You agree and acknowledge that the Company is not responsible or liable for disclosure of your personal wallet “key,” even if such loss may be attributed to an error or “bug” in the Services.

You understand and accept that your access to your tokens or other cryptocurrency assets may be suspended or terminated or there may be a delay in your access or use which may result in your tokens or other cryptocurrency assets diminishing in value or you being unable to complete a smart contract.

You accept all risks associated with the use of the Services to conduct cryptocurrency transactions, including, but not limited to, in connection with the failure of hardware, software, internet connections, and failures related to any supported network.

You understand and accept that the Services may be suspended or terminated for any or no reason, which may limit your access to your cryptocurrency assets.

You agree that you understand the inherent risks associated with cryptographic systems, including hacking risks and future technological development.

You agree that you have an understanding of the usage and intricacies of native cryptographic tokens. You acknowledge and understand that with regard to any cryptographic tokens “stored” in a wallet to which you have custody, you alone are responsible for securing your private key(s). The Company does not have access to your private key(s). Losing control of your private key(s) will permanently and irreversibly deny you access to blockchain resources and your blockchain wallet.

You agree that with regard to any cryptographic tokens or other assets stored on resources hosted by the Company, the Company is not liable to you for any loss, failure, or unavailability of any kind, of such tokens or assets, for any reason.

Regardless of anything to the contrary in this Agreement, nothing in this Agreement is a waiver, and we will not assert there has been a waiver, that would not be permissible under Section 14 of the Securities Act of 1933, Section 29(a) of the Securities Exchange Act of 1934, or any other applicable provision of US federal and state securities laws.

You acknowledge that the Company and its affiliates do not provide investment advice or a recommendation of securities or investments. You should always obtain independent investment and tax advice from your professional advisers before making any investment decisions.

You acknowledge that you are not relying on the Company or any of its affiliates, officers, directors, partners, agents or employees in making an investment decision. Always consider seeking the advice of a qualified professional before making decisions regarding your business and/or investments. The Company does not endorse any investments and shall not be responsible in any way for any transactions you enter into with third parties. You agree that the Company and its affiliates, officers, directors, partners, agents or employees will not be liable for any loss or damages of any sort incurred as a result of any interactions between you and third parties.

It is your responsibility to determine what, if any taxes may apply to the transactions you complete under the Services and it is your responsibility to report and remit the appropriate tax to the relevant taxing authorities. You agree that the operator is not responsible for determining whether taxes apply to the exchanges made under the Services.

8. Intellectual Property Rights.

8.1 Ownership of Intellectual Property.

You acknowledge that all intellectual property rights, including copyrights, trademarks, trade secrets, and patents, in the Services and its contents, features, and functionality (collectively, the “Content”), are owned by the Company, its licensors, or other providers of such material. The Content is protected by U.S. and international intellectual property or proprietary rights laws. Neither this Agreement nor your access to the Services transfers to you any right, title, or interest in or to such intellectual property rights. Any rights not expressly granted in this Agreement are reserved by the Company and its licensors.

8.2 License to Use the Services.

During the Term of this Agreement, the Company grants you a limited, non-exclusive, non-transferable, non-sublicensable, and revocable license to use and access the Content for any business or commercial use in accordance with this Agreement. The Content may not be used for any other purpose. This license will terminate upon your cessation of use of the Services or at the termination of this Agreement.

8.3 Certain Restrictions.

The rights granted to you in this Agreement are subject to the following restrictions:

(a) No Copying or Distribution.

You shall not copy, reproduce, publish, display, perform, post, transmit, or distribute any part of the Content in any form or by any means except as expressly permitted herein or as enabled by a feature, product, or the Services when provided to you.

(b) No Modifications.

You shall not modify, create derivative works from, translate, adapt, disassemble, reverse compile, or reverse engineer any part of the Content.

(c) No Exploitation.

You shall not sell, license, sublicense, transfer, assign, rent, lease, loan, host, or otherwise exploit the Content or the Services in any way, whether in whole or in part.

(d) No Altering of Notices.

You shall not delete or alter any copyright, trademark, or other proprietary rights notices from copies of the Content.

(e) No Competition.

You shall not access or use the Content in order to build a similar or competitive website, product, or service.

(f) Systematic Retrieval.

You shall not use any information retrieval system to create, compile, directly or indirectly, a database, compilation, collection or directory of the Content or other data from the Services.

8.4 Trademark Notice.

All trademarks, logos, and service marks displayed on the Services are either the Company’s property or the property of third parties. You may not use such trademarks, logos, or service marks without the prior written consent of their respective owners.

9. User Content.

9.1 User Generated Content.

The Services may contain features that allow users to post, upload, submit, or process content or materials (collectively, “User Content”) on or through the Services.

You are solely responsible for your User Content. Please consider carefully what you choose to share. All User Content must comply with the Content Standards set forth below. Any User Content you post on or through the Services will be considered non-confidential and non-proprietary. You assume all risks associated with the use of your User Content. This includes any reliance on its accuracy, completeness, reliability, or appropriateness by other users and third parties, or any disclosure of your User Content that personally identifies you or any third party. You agree that the Company shall not be responsible or liable to any third party for any User Content posted by you or any other user of the Services.

You further agree that the Company shall not be responsible for any loss or damage incurred as the result of any interactions between you and other users. Your interactions with other users are solely between you and such users. If there is a dispute between you and any other user, we are under no obligation to become involved.

9.2 License.

You hereby grant to the Company an irrevocable, non-exclusive, royalty-free and fully paid, transferable, perpetual, and worldwide license to reproduce, distribute, publicly display and perform, prepare derivative works of, incorporate into other works, and otherwise use and exploit your User Content, and to grant sublicenses of the foregoing rights, in connection with the Services and the Company’s business including, without limitation, for promoting and redistributing part or all of the Services in any media formats and through any media channels.

You represent and warrant that you have all the rights, power, and authority necessary to grant the rights granted herein to any User Content that you submit. You hereby irrevocably waive all claims and have no recourse against us for any alleged or actual infringement or misappropriation of any proprietary rights in any communication, content, or material submitted to us. Please note that all of the following licenses are subject to our Privacy Policy to the extent they relate to any User Content that contains any personally identifiable information.

9.3 Content Standards.

You agree not to send, knowingly receive, upload, transmit, display, or distribute any User Content that does not comply with the following standards (“Content Standards”). User Content must not:

(a) Violate Laws or Obligations.

Violate any applicable laws or regulations (including intellectual property laws and right of privacy or publicity laws), or any contractual or fiduciary obligations.

(b) Promote Illegal Activity or Harm to Others.

Promote any illegal activity; advocate, promote, or assist any unlawful act; or create any risk of any harm, loss, or damage to any person or property.

(c) Infringe Intellectual Property Rights.

Infringe any copyright, trademark, patent, trade secret, moral right, or other intellectual property rights of any other person.

(d) Defamatory, Abusive, or Otherwise Objectionable Material.

Contain any information or material that we deem to be unlawful, defamatory, trade libelous, invasive of another’s privacy or publicity rights, abusive, threatening, harassing, harmful, violent, hateful, obscene, vulgar, profane, indecent, offensive, inflammatory, humiliating to other people (publicly or otherwise), or otherwise objectionable. This includes any information or material that we deem to cause annoyance, inconvenience, or needless anxiety, or be likely to upset, embarrass, alarm, or annoy another person.

(e) Promotion of Sexually Explicit Material or Discrimination.

Promote sexually explicit or pornographic material, violence, or discrimination based on race, sex, religion, nationality, disability, sexual orientation, or age.

(f) Fraudulent Information or Impersonation.

Contain any information or material that is false, intentionally misleading, or otherwise likely to deceive any person including, without limitation, impersonating any person, or misrepresenting your identity or affiliation with any person or organization.

(g) Endorsement by the Company.

Represent or imply to others that it is in any way provided, sponsored, or endorsed by the Company or any other person or entity, if that is not the case.

9.4 Monitoring and Enforcement.

We reserve the right at all times, but are not obligated, to take any action with respect to any User Content that we deem necessary or appropriate in our sole discretion, including if we believe that such User Content violates the Content Standards or any other provision in this Agreement, or creates liability for the Company or any other person. Such action may include reporting you to law enforcement authorities.