These terms and conditions govern the distribution of the SYL - distribution carried out solely by exchanges of digital assets. The accepted digital assets for acquiring SYL are Bitcoin (BTC) and Litecoin (LTC). XSL-Labs.io allows, through an ICO (Initial Coin Offering), to acquire utility tokens called SYL which will be issued on the Ethereum network as ERC-20. XSL-Labs.io is the website that grants the distribution of SYL digital assets, developed by XSL Labs, LLC, headquartered in St. Vincent and the Grenadines, registered under number 678 LLC 2020.
Acquiring digital assets is a decision that each individual makes consciously and should not be an investment. Any digital asset is extremely volatile when exposed to the markets. The SYL will be incorporated in market exchanges. XSL Labs does not ensure earning potential at any time or in any way.
These terms and conditions govern the distribution of the SYL - distributioncarried out solely by exchanges of digital assets. The accepted digital assets foracquiring SYL are Bitcoin (BTC) and Litecoin (LTC). XSL-Labs.io allows, through anICO (Initial Coin Offering), to acquire utility tokens called SYL which will be issuedon the Ethereum network as ERC-20. XSL-Labs.io is the website that grants thedistribution of SYL digital assets.Acquiring digital assets is a decision that each individual makes consciously and should not be an investment. Any digital asset is extremely volatile whenexposed to the markets. The SYL will be incorporated in market exchanges. XSLLabs does not ensure earning potential at any time or in any way.
Digital asset: A digital asset allows information, goods and services to be exchanged between users without requiring the use of fiat currency with a legal tender. Based on a computer protocol, data is exchanged through cryptographically signed transactions in a DLT (Distributed Ledger Technology). The SYL digital asset is a utility token.
SYL: The SYL is the name of the digital asset issued by XSL Labs. The SYL digital asset can be stored and exchanged in any product or service that accepts the common rules surrounding the ERC20 standard. The maximum number of SYLs generated is 10,000,000,000 (ten billion), no more SYLs can be issued.
Creation of SYL: Action of issuing SYL tokens according to the number of SYLs distributed during the ICO (maximum 10,000,000,000).
TC: Terms and Conditions, the present document.
Participant: Natural or legal person having opened a personal space on XSL-Labs.io and having acquired SYL.
External wallet or Wallet: Digital wallet in which it is possible to store units of account of digital assets. This digital app is under the total and unique control of the participant and its operation relies on a public key and private key system. The participant is the sole owner of the access information to his wallet and has control over it. XSL Labs has no ability to access a wallet and is not responsible for the use of external wallets.
Account balance: Expresses the amount of SYL available in the participant's personal space.
Delivery: The act of delivering a defined quantity of the digital asset SYL to a wallet external to the participant.
KYC: Know Your Customer is the name given to the process of verifying the identity of a company's customers. KYC’s identity verification is required to acquire SYLs during distribution. This process is managed by our service provider https://sumsub.com/
Marketplace or exchange: Independent company or decentralized app offering digital assets’ purchasing/sale options or trading opportunities.
Withdrawal: The act of transmitting SYL digital assets to an external wallet.
Transaction: A paperless exchange contract with digital assets. A transaction can be inbound when XSL Labs receives digital assets, or outbound when XSL Labs sends digital assets.
Website: Represents solely https://xsl-labs.io; a set of services and user experiences.
Personal space: The personal space is an access grouping various information and services intended only for a user who has completed an identification process. This identification starts by creating an account on XSL-Labs.io; an account that will be linked to an email address and a confidential password provided by the user when registering. The identification process continues by connecting to the personal space, with said email and confidential password. XSL Labs has no knowledge of its users' passwords and will therefore be unable to recover a lost password. The user can generate a new password at any time from the email registered on XSL-Labs.io.
2.1 Information required to create a personal space
The user must have an email address to create a personal space on the website.
The information requested during creation is as follows:
- Active email address
- A password that must consist of 8 characters minimum including at least one upper case, one lower case and one number. It is recommended to have a strong password to secure the account.
The user then receives a verification email at the registered email address in order to verify the account.
2.2 Additional information on personal space
The user, when he has a balance greater than zero SYL in his personal space, can provide additional information in his user profile. This information is used to reinforce the profile for the purpose of identifying the user if this should become necessary.
XSL Labs or its website do not allow the purchase of SYL with fiat currency but allows an exchange of digital assets.
Natural or legal persons wishing to acquire SYL must first own digital assets from the following list:
- Bitcoin (BTC): Decentralized digital asset created in 2008 by Satoshi Nakamoto;
- Litecoin (LTC): Decentralized digital asset created in 2011 by Charlie Lee.
Any acquisition of SYL will not be reimbursed.
The acquisition of SYL is possible for any person of legal age, provided that the laws and regulations in force in their country of residence allow it. In order to acquire SYL, it is necessary to have at least one of the digital assets mentioned above, namely: Bitcoin or Litecoin.
In order to ensure value readability of a SYL to participants during the acquisition phase, the offer is offered in dollars for information only. This indicative value is then converted according to the chosen exchange method (BTC, LTC).
Any acquisition of SYL will not be reimbursed. The funds are directly dedicated to the development of the ecosystem.The acquisition value is carried over in three stages, which represent different acquisition phases.
The phases are as follows (listed in indicative value):
- Current Phase: 3,000,000,000 SYL available at 0.002 dollars
- Next Phase: 3,000,000,000 SYL available at 0.003 dollars
No acquisition can be made directly in fiat currency such as the US dollar; it is a simple reference of value to enable a conversion in the accepted digital assets (BTC, LTC).
During all phases, the acquisition value of SYL is variable depending on the value of the accepted digital assets at the time of the validation of the acquisition. As such, we use the dollar as the indicative reference for value thus reading the minimum thresholds as follows:
- Current Phase: 100 dollars minimum for the first acquisition then 50 dollars minimum per new acquisition.
- Next Phase: 100 dollars minimum per acquisition.
To acquire SYL, it is necessary to have a personal space on www.xsl-labs.io. The participant expresses in dollars (indicative value) the amount of SYL he wishes to obtain and this amount is automatically converted into a number of SYLs, again for guidance.
The choice is left to the participant to exchange with Bitcoin (BTC) or with Litecoin (LTC).
Once the choice is selected, the amount of digital assets (BTC or LTC) to be transferred is indicated as well as the destination address to which the digital assets are to be transferred. At this stage, it is necessary to validate the TC (Terms and Conditions) and to confirm the transfer in digital assets using the button designed for this purpose.
Upon receipt of the digital assets at the indicated address, the transaction of SYL is immediately carried out and credited to the participant’s personal space.
SYLs acquired during the ICO are credited to the personal space of each participant.
The number shown in the participant’s personal space reflects the exact amount of SYL held. The SYL will be transferred as a standard erc-20 digital asset.
Two weeks before the distribution of SYL, the participant must indicate a destination address in a form provided for this purpose in his personal.
- The delivery address must be a personal Ethereum address, of which the participant holds the private key or from a third-party service allowing to receive a personalized token type erc-20.
- The participant assumes full responsibility for providing the destination address as well as for its compatibility with the erc-20 SYL token.
- XSL Labs will ensure the smooth running of the transfer to participants within 7 days of the end date of the ICO, as long as the participant has a complete and valid KYC’s identity verification.
- The participant will have 180 days following the end of the ICO to complete the transfer, otherwise the acquired SYLs will be blocked.
The possibility of acquiring SYL at the preferential price varying from $ 0.001 to $ 0.003 (indicative value), began with a presale on March 01, 2020.
The ICO may end at any time, when targets (stated below) are reached and depending on the general health of the market.
The ICO will close on March 31, 2021 at the latest.
The minimum target (soft cap) is set at $ 1,000,000 (one million dollars).
The maximum target (hard cap) is set at $ 16,000,000 (sixteen million dollars).
XSL Labs is committed to promoting the SYL token so that it can be listed on an exchange in the months following the end of the ICO.
The indicative value of each SYL will be $ 0.003 upon initial market exposure and insertion on an exchange. XSL Labs does not ensure in any way, shape or form a minimum sale price during or following market exposure.
- XSL Labs will be in compliance with the General Data Protection Regulation (GDPR). XSL Labs will protect and respect the privacy of users of its services and websites.
- We are required by applicable law to collect your data so that you can use our different services. Any personal data you provide to us that is not required by applicable law, will not be sold or given to third parties by XSL Labs.
- When creating an account on XSL-Labs.io, you will need to provide a valid email address and a strong password to ensure the security of and access to your personal account. You will be required to provide all necessary documents or additional proof of identity as your account evolves.
- You are aware that the data we collect from you may be transferred and stored outside the European Economic Area (EEA). Service providers outside the EEA working for us may also be called upon to process your data. Once all of your data has been received, we will use all appropriate procedures and security features to ensure that your account is under protection to prevent unauthorized access. You are responsible for keeping your password secure and to avoid sharing your personal data. We strongly recommend that you do not share your password.
We use your personal data in strict circumstances where applicable law is required. We will use your personal information for this purpose, but also:
* To optimize security, prevention against spam, to prevent security risks and malware.
* Check and update your identity.
* To enable XSL Labs to comply with a new legal or regulatory obligations.
* To prevent and investigate restricted and illegal activity or any violation of our terms and conditions.
* To improve our services and solve any problems.
* To communicate with you on the events of the ICO news.
- Your privacy is our priority. We also demand and maintain, from our providers, a maximum level of service offering all the necessary measures to prevent theft, loss, misuse and unauthorized access to your personal data.
- Internal procedures are put in place to deal with any suspected violation of your personal data if such a case arises. We will promptly notify you of a violation, as well as any regulator whom and when we are legally required to do so. We cannot guarantee any loss, theft, poor circulation, disclosure or unauthorized access to your data.
You have a right to access, modify and delete the personal data we hold about you by virtue of the European law on data protection. You can request that all of your inaccurate personal data be corrected or deleted.
- If you wish to exercise any of these rights, please contact us as indicated below.
By virtue of the GDPR (if applicable), you can:
* Ask for confirmation if XSL Labs is processing personal data about you.
* Request access to your personal data and ask us to correct it.
- Although XSL Labs makes good faith efforts to provide users with access to their personal data, there may be circumstances in which the interested party is not able to provide access, including but not limited to: when the data contains a legal privilege, when the data would compromise the privacy of others or other legitimate rights, when the costs of providing access would be disproportionately higher than the risk to the privacy of the individual in question, or when the information is commercial.
- If we determine that access should be restricted in a particular case, we will seek to provide you with an explanation of why this decision was made as well as a point of contact for any further inquiries. To protect your privacy, we will take reasonable steps to verify your identity before granting access or making changes to your personal data.
- The GDPR will give you the right to obtain the data about you. In accordance with the GDPR, it will be accessible on request to firstname.lastname@example.org
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