Terms and Conditions for Participation in the G6 Networks Token Fair Launch
Last updated
Last updated
Introduction These Terms and Conditions (hereinaer referred to as the “Terms”) constitute a legally binding agreement between you (hereinaer referred to as the “Participant”) and BitBalansz Kft, a company duly incorporated and existing under the laws of the Hungary (hereinaer referred to as “G6 Networks,” "Company," “we,” or “us”). For the purposes of this agreement, G6 Networks is the trading name of BitBalansz Kft. These Terms govern your participation in the G6 Networks Token Fair Launch (hereinaer referred to as the “Fair Launch”). By contributing to the Fair Launch or by engaging in any activities as a supporter within the G6 Networks blockchain network, you hereby acknowledge and agree to be bound by these Terms. G6 Networks reserves the right to amend, modify, or update these Terms at its sole discretion, with or without notice. It is the responsibility of the Participant to regularly review these Terms for any changes. This Token Fair Launch is not an investment product, and participation does not imply any service provision or commitment to generate profits. It is a simple exchange between the cryptocurrencies USDT, USDC, and the GSX token on the Polygon chain. Participants should understand that this transaction does not involve any promises of returns, ownership interests, or equity rights in G6 Networks or BitBalansz Kft. The GSX token is solely intended for use within our blockchain network, and no guarantee of future value, tradability, or liquidity is made.
Legal Compliance 2.1 Tax Compliance Participants acknowledge their sole responsibility for determining, collecting, reporting, and remiing any and all applicable taxes, duties, or other fees arising from their participation in the Fair Launch. BitBalansz Kft shall not be held liable for any Participant’s failure to comply with applicable tax laws. 2.2 Cross-Border Data Transfer Compliance If personal data is transferred outside the European Union (EU) or European Economic Area (EEA), BitBalansz Kft will implement appropriate safeguards in accordance with the GDPR, such as standard contractual clauses, to ensure the lawful transfer of personal data. 2.3 Sanctions Compliance Participants agree to comply with all applicable economic and trade sanctions, including those administered by the European Union, United Nations, and other relevant authorities. Participation in the Fair Launch is prohibited for individuals or entities that are subject to sanctions or listed on prohibited party lists. 2.4 Consumer Protection If applicable, Participants agree to comply with all relevant consumer protection laws, including the Hungarian Consumer Protection Act, especially concerning transparency, the right to withdraw, and dispute resolution. This clause applies particularly to the contribution in the Token Fair Launch. 2.5 Intellectual Property Regulations Participants agree that their activities within the Fair Launch will not infringe upon any third-party intellectual property rights. BitBalansz Kft reserves the right to terminate participation and pursue legal action if a breach of intellectual property rights is identified. 2.6 License & Regulatory Approvals BitBalansz Kft represents and warrants that it has obtained all necessary licenses and regulatory approvals to operate the G6 Networks Token Fair Launch in accordance with Hungarian and applicable international laws. Participants are responsible for ensuring that their participation complies with their local regulations. 2.7 Data Breach Notification In the event of a personal data breach, BitBalansz Kft will notify the appropriate regulatory authorities and aected data subjects without undue delay, in compliance with the General Data Protection Regulation (GDPR) and Hungarian data protection laws. 2.8 Fraud & Anti-Fraud Compliance Participants agree not to engage in fraudulent activities or practices, including but not limited to double-spending, Sybil attacks, or any other activity aimed at manipulating or undermining the integrity of the G6 blockchain network. BitBalansz Kft reserves the right to suspend or terminate any Participant found engaging in fraudulent activities. 2.9 KYC/AML Compliance BitBalansz Kft will implement stringent Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures in accordance with Hungarian and international regulations. Participants are required to provide all necessary identification and verification documentation as requested by BitBalansz Kft to ensure compliance.
Eligibility 3.1 Age and Legal Capacity To participate in the Token Fair Launch, the Participant must be at least 18 years of age and possess full legal capacity to enter into binding contracts under the laws of Hungary. 3.2 KYC/AML compliance All participants in the Fair Launch must undergo heavy Know Your Customer (KYC) and Anti-Money Laundering (AML) checks. This ensures that the Fair Launch is conducted in a compliant manner, supporting the integrity of the G6 Networks platform. Only verified participants who meet KYC/AML standards will be allowed to contribute to the Fair Launch. This is part of our commitment to maintaining a secure and responsible network. 3.3 Geographical Restrictions Participants residing in countries or territories subject to international sanctions or restrictions may be prohibited from participating in the Token Fair Launch. BitBalansz Kft reserves the right to restrict participation in jurisdictions where legal or regulatory issues arise. Citizens from the following regions/countries are restricted from participating in the Fair Launch: the US, Canada, Japan, Singapore, Switzerland, China, Russian Federation, Ukraine, Burma (Myanmar), the former Yugoslavia, Iran, North Korea, Zimbabwe, Syria, Libya, Iraq, Cuba, Venezuela, Sudan, South Sudan, Belarus, Lebanon, Palestinian Territories, Israel, Ethiopia, Democratic Republic of the Congo (DRC), Congo, Afghanistan, Somalia, Yemen, Nicaragua and Eritrea. 3.4 No Criminal Record Participants must not have any criminal record related to fraud, financial misconduct, money laundering, or any activity deemed illegal under Hungary or international law. Participants may be required to provide documentation or verification to confirm compliance with this requirement. 3.5 Code of Conduct Participants are expected to maintain ethical standards, integrity, and professionalism throughout their participation in the Fair Launch. Any fraudulent activity, dishonest behavior, or violation of these Terms may result in immediate termination from the Fair Launch. 3.6 Right to Refuse Participation BitBalansz Kft reserves the right to refuse or revoke a Participant’s eligibility to participate in the Fair Launch at its sole discretion, particularly in cases of non-compliance with these Terms or applicable laws.
Payment 4.1 Currency All contribution for the Fair Launch must be made in the currency specified during the contribution process. Accepted contribution cryptocurrencies are USDT and USDC on the Polygon chain.
4.2 Transaction Fees and Conversion Charges The Participant is solely responsible for covering any fees associated with the transaction, including but not limited to currency conversion charges, transaction fees, and processing fees. 4.3 Contribution Terms All contributions must be made in accordance with the terms specified at the time of the Fair Launch. Failure to comply with contribution deadlines or requirements may result in losing the chance of participation.
Distribution of Tokens and Vesting During the Fair Launch, participants will have the opportunity to support the project by acquiring tokens across three tiers, with a total allocation of 10 million tokens. Each tier will have the same price of $0.85/token, but early supporters will receive bonus allocations as a gesture of gratitude and trust in the project. To ensure fairness, each participant can contribute up to a maximum of $30,000 per user.
In Tier 1, 44% of the total allocation will be available, and participants will receive a bonus of 85% more tokens based on the amount they contribute. Tokens in this tier will be subject to a 9-month vesting period, with 1/9 of the tokens released monthly. Accessible tokens: 2.3784 million Bonus tokens: 2.0216 million
In Tier 2, 32% of the allocation will be available, and participants will receive a bonus of 25% more tokens based on the amount they contribute. These tokens will have a 6-month vesting period, with 1/6 of the tokens released monthly. Accessible tokens: 2.56 million Bonus tokens: 0.64 million
In the third and final tier, 24% of the tokens will be available with no bonus and no vesting period, providing immediate access to the tokens. Accessible tokens: 2.4 million Bonus tokens: None (no bonus in this tier) Each tier will be available for 14 days during the Fair Launch. Any remaining tokens from the Fair Launch will flow back into the ecosystem and be evenly distributed among the community, validators, and seed round wallets.
User Obligations 6.1 Compliance with Laws Participants are required to comply with all applicable local, national, and international laws while using the Services provided by G6 Networks. Any breach of these legal obligations may result in the termination of the Participant’s access to the Fair Launch. 6.2 Prohibited Activities Participants are expressly prohibited from using the Services for any unlawful or fraudulent activities. Any attempt to circumvent or breach these Terms will result in the immediate termination of the Participant’s access to the Services and may result in legal action against the Participant.
Intellectual Property All content, trademarks, logos, and intellectual property provided through the Services are the exclusive property of BitBalansz Kft or its licensors. Participants are granted a limited, non-exclusive, non-transferable license to use the Services solely for personal, non-commercial purposes. Unauthorized use of G6 Networks’ intellectual property is strictly prohibited and may result in legal action.
GDPR Compliance BitBalansz Kft is fully commied to ensuring the privacy and protection of personal data in accordance with the General Data Protection Regulation (GDPR). 8.1 Data Collection and Use BitBalansz Kft collects and processes personal data in strict accordance with our Privacy Policy. By utilizing our Services, Participants consent to the collection, use, and sharing of their personal data as outlined in the Privacy Policy. 8.2 Rights of EU/EEA Residents If you are a resident of the European Union (EU) or the European Economic Area (EEA), you have specific rights under the GDPR, including but not limited to:
The right to access, correct, delete, and restrict the processing of your personal data.
The right to data portability and the right to object to certain processing activities. 8.3 Data Controller BitBalansz Kft is the designated Data Controller for the personal data collected from Participants. 8.4 Legal Basis for Processing G6 Networks processes personal data based on the following legal grounds:
Consent: When explicit consent has been provided by the Participant for specific processing activities.
Contract Necessity: When processing is necessary for the performance of a contract with the Participant.
Compliance with Legal Obligations: When processing is required to comply with applicable legal obligations.
Legitimate Interests: When processing is necessary for the legitimate interests of G6 Networks, provided such interests do not override the rights and freedoms of the Participant. The specific categories of personal data we process are outlined in detail in our Privacy Policy. 8.5 Data Retention Personal data will be retained only as long as necessary to fulfill the purposes for which it was collected, or as required by law. 8.6 Data Subject Rights Participants may exercise their rights under the GDPR by contacting BitBalansz Kft at contact@g6.network. All requests will be handled in accordance with applicable legal requirements. If you have any complaints regarding the processing of your personal data, you may contact the data protection authority. The relevant authority is the Nemzeti Adatvédelmi és Információszabadság Hatóság () 8.7 International Transfers If personal data is transferred outside the EU/EEA, BitBalansz Kft will implement appropriate safeguards, including standard contractual clauses, to ensure compliance with GDPR requirements.
Forward Looking Statements This document, along with all other communications, including but not limited to BitBalansz Kft’s website content, newsleers, marketing materials, social media posts, presentations, and any other public statements made by BitBalansz Kft , may contain forward-looking statements. These statements include projections, plans, and expectations concerning the future performance of G6 Networks or its associated programs. Such forward-looking statements reflect the current beliefs and assumptions of BitBalansz Kft’s management but do not constitute guarantees of future performance. Actual results may dier materially from those expressed or implied due to various risks and uncertainties. BitBalansz Kft undertakes no obligation to update or revise any forward-looking statements to reflect changes in circumstances, expectations, or future events. Participants and stakeholders are cautioned against placing undue reliance on such statements, which are intended for informational purposes only.
Liability Disclaimer BitBalansz Kft expressly excludes all liability for the continuous and error-free operation of the network or system. BitBalansz Kft shall not be held liable for any failure to generate revenue from participation in the Token Fair Launch within the anticipated timeframes, frequency, or amounts. BitBalansz Kft disclaims any liability regarding the GSX token representing any value, whether in monetary terms or other assets. BitBalansz Kft shall not be liable for any consequential or incidental damages arising from the connection to the system. BitBalansz Kft further disclaims any liability for the compatibility of the tools provided with any other equipment or systems used by the participant.
Governing Law and Dispute Resolution These Terms shall be governed by and construed in accordance with the laws of the Hungary. Any disputes arising out of or in connection with these Terms shall be resolved through binding arbitration under the rules of the Arbitration Court of Hungarian Chamber of Commerce and Industry, with Hungary, as the seat of arbitration. The arbitration proceedings shall be conducted in Hungarian.
Acceptance of Terms By contributing in the Token Fair Launch you confirm that you have read, understood, and agreed to these Terms. Continued participation in the Fair Launch constitutes your ongoing acceptance of any amendments or modifications to these Terms. Contact Information For any inquiries or concerns regarding these Terms, please contact BitBalansz Kft at contact@g6.network. BitBalansz Kft Hungary