ICO Terms

General Provisions

  • Anyone can participate in Mass ICO. Besides an email address, no personal data is collected. To join the ICO, one has to sign up for the Mass ICO account.
  • A non-refundable deposit in Bitcoins needs to be made to participate in further coins distribution. Before the ICO ends, multiple Bitcoin deposits can be made. There is no minimal or maximal amounts imposed.
  • By the term “ICO Participant” we understand whoever has access to control the single Mass ICO account.
  • ICO account is needed for deposits collection only. Mass Coin will be transferred to each individual’s independent Blockchain-based wallet. Mass Coin storage is not centrally controlled.
  • Owning Mass Coin is the only result of participating in this ICO. No equity or bonds of any legal entity are offered in this ICO.
  • Participant shall verify through appropriate means and counsel in Participant’s jurisdiction if the purchase, holding and receiving the benefits of Mass Coin is legally permitted as well as to check the regulations regarding the use of bitcoins in Participant’s jurisdiction.

The first and the last public offering will end on December 1, 2016, at 11:59:59 am PST. On December 2, 2016, the single ever emission of Mass coins will take place, and one trillion of non-divisible coins will be issued. During the period from December 2, 2016, to December 15, 2016, the entire trillion will be distributed according to the following formula:

Every ICO Participant will receive [1,000,000,000,000 × (i ÷ I) × 0.7] coins; Mass will receive [1,000,000,000,000 × 0.3] coins altogether.

In this formula, “i” is the total amount of all deposits made to one individual account, “I” is the total amount of deposits made by all ICO participants, “[ ]” means the integer part function, “×” means arithmetical product, “÷” means arithmetical division.

Risk

By buying coins, you accept significant risk. Before purchasing coins, carefully consider the exemplary and non-exhaustive list of risks set forth below and, to the extent necessary, consult a lawyer, an accountant or a tax professional.

  1. Risk of Weaknesses in the Coin Transport Software. The blockchain-based assets concept is experimental in nature, therefore yet unproven. There is a risk that, as an open source project, any contributor to the software could introduce security weaknesses or errors into the software, causing the loss of coins.
  2. Regulatory Risks. Mass will operate through the decentralized coins not through a legal entity. However, there are regulatory risks. Blockchain technology represents the new form of economic interactions between individuals and companies where some methods are still to be tested, verified, and certified. It is likely that specific regulations in some jurisdictions might be set to contradict the mentioned methods. Such regulations may or may not be Mass Network friendly, and some might even forbid any relationships using coins.
  3. Loss of Value. The recognized value of coins is unpredictable. Mass Network or its representatives or people associated with it will not be responsible for value loss and will not have to buy back any coins from anyone.

Taxation

No party involved in this ICO makes any promises or explanations concerning the tax implications potentially caused by the purchase, possession, and use of coins. You bear the sole responsibility to determine if the potential appreciation or depreciation in the value of coins over time has any tax implications for you in your home jurisdiction.

The company and individuals associated with the organization of this ICO are not liable for any tax liability arising from the fact of buying and owning coins.

Forward-looking Statements

This document contains statements that are, or may be deemed to be, “forward-looking statements” which are prospective in nature. These forward-looking statements may be identified by the use of forward-looking terminology, or the negative thereof such as “outlook”, "plans", "expects" or "does not expect", "is expected", "continues", "assumes", "is subject to", "budget", "scheduled", "estimates", "aims", "forecasts", "risks", "intends", "positioned", "predicts", "anticipates" or "does not anticipate", or "believes", or variations of such words or comparable terminology and phrases or statements that certain actions, events or results "may", "could", "should", “shall”, "would", "might" or "will" be taken, occur or be achieved. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Forward-looking statements are not based on historical facts, but rather on current predictions, expectations, beliefs, opinions, plans, objectives, goals, intentions and projections about future events, results of operations, prospects, financial condition and discussions of strategy. By their nature, forward-looking statements involve known and unknown risks and uncertainties, many of which are beyond anyone's control. Forward-looking statements are not guarantees of future performance and may and often do differ materially from actual results. Important factors that could cause these uncertainties include, but are not limited to, those discussed in the “Risks and uncertainties” of this document. None of the third parties provide any representation, assurance or guarantee that the occurrence of the events expressed or implied in any forward-looking statements in this document will occur. You are cautioned not to place undue reliance on these forward-looking statements which only speak as of the date of this document. All third parties involved with coins creation and their affiliates expressly disclaim any intention, obligation or undertaking to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The making of this document does not constitute a recommendation regarding any securities.

Disclaimer of Warranties

THE USER EXPRESSLY AGREES THAT THE USER IS BUYING COINS AT THE USER’S SOLE RISK, AND THAT COINS ARE CREATED ON AN "AS IS" BASIS WITHOUT WARRANTIES OF ANY KIND, EITHER EXPRESSED OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, WARRANTIES OF TITLE OR IMPLIED WARRANTIES, MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. WITHOUT LIMITING THE FOREGOING, NONE OF THIRD PARTIES OR INDIVIDUALS ASSOCIATED WITH THE COINS CREATION WARRANT THAT THE PROCESS FOR PURCHASING COINS WILL BE UNINTERRUPTED OR ERROR-FREE.

Limitations Waiver of Liability

YOU ACKNOWLEDGE AND AGREE THAT, TO THE FULLEST EXTENT PERMITTED BY ANY APPLICABLE LAW, YOU WILL NOT HOLD THIRD PARTIES OR INDIVIDUALS ASSOCIATED WITH THE COINS CREATION LIABLE FOR ANY AND ALL DAMAGES OR INJURY WHATSOEVER CAUSED BY OR RELATED TO USE OF, OR INABILITY TO USE, COINS OR THE MASS SOFTWARE UNDER ANY CAUSE OR ACTION WHATSOEVER OF ANY KIND IN ANY JURISDICTION, INCLUDING, WITHOUT LIMITATION, ACTIONS FOR BREACH OF WARRANTY, BREACH OF CONTRACT OR TORT (INCLUDING NEGLIGENCE) AND THAT NONE OF THE THIRD PARTIES OR INDIVIDUALS ASSOCIATED WITH THE COINS CREATION SHALL BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, EXEMPLARY OR CONSEQUENTIAL DAMAGES, INCLUDING FOR LOSS OF PROFITS, GOODWILL OR DATA, IN ANY WAY WHATSOEVER ARISING OUT OF THE USE OF, OR INABILITY TO USE, OR CREATION OF, OR INABILITY TO CREATE, COINS. YOU FURTHER SPECIFICALLY ACKNOWLEDGE THAT THE THIRD PARTIES OR INDIVIDUALS ASSOCIATED WITH THE MASS-TOKENS CREATION ARE NOT LIABLE, AND YOU AGREE NOT TO SEEK TO HOLD ANY OF THE THIRD PARTIES OR INDIVIDUALS ASSOCIATED WITH THE COINS CREATION LIABLE, FOR THE CONDUCT OF THIRD PARTIES, INCLUDING OTHER CREATORS OF COINS, AND THAT THE RISK OF CREATING AND USING COINS RESTS ENTIRELY WITH YOU.

Updates

Terms updated on November 16; discounts were applied according to the following schedule based on separate announcements for each period.

DateBonus
25 August 2016 (00:00:00) - 15 September 2016 (11:59:59) PST60%
15 September 2016 (12:00:00) - 30 September 2016 (23:59:59) PST40%
1 October 2016 (00:00:00) - 1 November 2016 (23:59:59) PST25%
25 November 2016 (18:00:00) - 1 December 2016 (11:59:59) PST55%

For those who have already invested, this final bonus is bigger too: any new amount invested on or after 25th of November is eligible for the bonus of 65%, not 55%.