WHITENET Fair Token Launch —
Terms & Conditions
Last updated: 12 May 2025
01 — Introduction
These Terms and Conditions (the “Terms”) govern a one‑time Fair Token Launch in which eligible holders of WHITE deposit their WHITE tokens in exchange for newly‑minted WHITENET tokens on the White Network blockchain.
The Fair Token Launch is organised by WhiteRock Institute Ltd, a British Virgin Islands company (No. 2159373) with its registered office at Trinite Chambers, PO Box 4301, Road Town, Tortola, British Virgin Islands (the “Company”, “we”, or “us”).
Deposited WHITE will be taken out of circulation. No consideration is received by the Company.
02 — Definitions
Term
Meaning
Participant
A person or entity that satisfies Section 3 and elects to take part.
Transaction
A non-refundable transaction sending WHITE to [address] while the Window remains open, taking deposited WHITE out of circulation.
Exchange Ratio
1 WHITENET for every 1 WHITE unless varied under Section 9.
Restricted Jurisdictions
(i) the United States; (ii) Canada; (iii) Japan; (iv) any jurisdiction where participation in the Fair Token Launch would be unlawful; and (v) any person or entity that is subject to financial‑sanctions legislation or regulation.
Window
The period during which Transactions are accepted in accordance with Section 4.
03 — Eligibility
A Participant must:
• be at least 18 years old (or, if an entity, be duly organised and in good standing);
• not be located in, or otherwise subject to, a Restricted Jurisdiction; and
• control the wallet used for the Transaction.
The Company may exclude any person where required by applicable law.
04 — Procedure
4.1 Window. The Fair Token Launch opens once deposits are enabled. It remains open until the Company posts a closure notice on the launch page and dApp interface at least 24 hours before the effective closing block.
4.2 Transaction. Send WHITE to the address at any time while the Window is open.
4.3 Mint & distribution. After the deposit is verified, the Company mints and delivers WHITENET to the wallet that executed each Transaction.
4.4 Wallet immutability & private key responsibility. The wallet that sends the Transaction is the only wallet that can receive WHITENET. If the private key is lost or compromised, there is no means to change the address or re‑issue tokens. Access to WHITENET may be lost permanently
4.5 Irrevocability. Deposits are final and cannot be reversed.
05 — Participant Statements
By submitting a Transaction you represent and warrant that:
1.
Capacity & authority – You have the legal capacity and authority to enter into these Terms and to perform all acts required under them.
2.
Eligibility – You meet the Eligibility Criteria in Section 3 and are not a citizen, resident or agent of a Restricted Jurisdiction nor subject to any sanction.
3.
Accurate information – All information you provide in connection with the Fair Token Launch is true, complete and not misleading.
4.
Lawful source of funds – WHITE deposited and gas fees paid
5.
Risk understanding – You have carefully reviewed the Risk Disclosure in Schedule 1 and accept the risks it describes.
6.
Utility acknowledgement – You understand that WHITENET carries only the utility set out in these Terms and does not represent equity, debt, profit‑sharing or any right to share in Company profits.
7.
Private key control – You are solely responsible for safeguarding the private key of the wallet used for the Transaction and accept that loss of the key may result in permanent loss of WHITENET.
If any of the above statements is or becomes untrue, the Company may void or refuse distribution of WHITENET without further liability.
06 — Disclaimers
Utility of WHITENET. WHITENET is the native token of the White Network blockchain. It may be used for payment of transaction (“gas”) fees, validator staking or delegation, governance participation and other utilities the protocol may enable from time to time.
Regulatory status. WHITENET and WHITE are issued on an unregulated basis. Neither token is regulated under the BVI Securities and Investment Business Act 2010 nor the Virtual Asset Service Providers Act 2022.
No advice. The Company provides no investment, tax or legal advice. You should consult your own advisers before participating.
Future development. The features, performance and adoption of WHITENET and the White Network are subject to ongoing research, development and market factors and may evolve over time.
Tax liability. You are solely responsible for calculating, reporting and paying any taxes, duties or assessments that may arise from depositing WHITE, holding or transferring WHITENET, or any subsequent disposition of WHITENET.
07 — Limitiation of Liability & Indemnity
Limitation of liability – To the fullest extent permitted by law, the Company is not liable for any indirect, special, incidental or consequential loss arising out of, or in connection with, these Terms or the Fair Token Launch. No Participant shall have any claim against the Company for direct monetary damages.
Indemnity – You agree to indemnify, defend and hold harmless the Company and its officers, directors, employees and contractors against any loss, liability, claim, damage or expense arising out of your breach of these Terms or violation of law.
08 — Dispute Resolution
Any dispute, controversy or claim arising out of or in connection with these Terms shall be referred to confidential arbitration under the BVI Arbitration Act 2013.
09 — Amendments
The Company may update these Terms on its official website. Each time you initiate a Transaction you must read and agree to the version of the Terms then in effect.
10 — Interpretation, Entire Agreement & Severability
These Terms set out the complete agreement between the Company and each Participant regarding the Fair Token Launch.
11 — Governing Law
These Terms and any non‑contractual obligations are governed by the laws of the British Virgin Islands.
Schedule 1 – Risk Disclosure
Market volatility. Prices of digital assets fluctuate widely due to market forces, regulatory developments and technological shifts.
Regulatory uncertainty. New or amended laws and regulations may affect the legality of holding or transferring WHITENET or operating the White Network.
Technology & cybersecurity. Smart‑contract vulnerabilities, software bugs or malicious attacks could lead to partial or total loss of tokens or network functionality.
Network performance & adoption. The success and utility of WHITENET depend on ongoing development, validator participation and user adoption.
Liquidity risk. An active or orderly secondary market for WHITENET may not develop.
Operational risk. Delays, errors or unforeseen issues during the Fair Token Launch could result in delayed or incomplete token distribution.
Extraordinary events. Natural disasters, conflict or regulatory action could impair network operations or token functionality.
Development risk. The White Network is pre‑launch and its specifications, timeline and ultimate success remain subject to change.
Force majeure events. Events beyond the Company’s reasonable control (for example acts of God, natural disasters, conflict, government action, large-scale technical disruptions) could delay or prevent token issuance, distribution or network operation.
WHITENET Fair Token Launch —
Terms & Conditions
Last updated: 12 May 2025
01 — Introduction
These Terms and Conditions (the “Terms”) govern a one‑time Fair Token Launch in which eligible holders of WHITE deposit their WHITE tokens in exchange for newly‑minted WHITENET tokens on the White Network blockchain.
The Fair Token Launch is organised by WhiteRock Institute Ltd, a British Virgin Islands company (No. 2159373) with its registered office at Trinite Chambers, PO Box 4301, Road Town, Tortola, British Virgin Islands (the “Company”, “we”, or “us”).
Deposited WHITE will be taken out of circulation. No consideration is received by the Company.
02 — Definitions
Term
Meaning
Participant
A person or entity that satisfies Section 3 and elects to take part.
Transaction
A non-refundable transaction sending WHITE to [address] while the Window remains open, taking deposited WHITE out of circulation.
Exchange Ratio
1 WHITENET for every 1 WHITE unless varied under Section 9.
Restricted Jurisdictions
(i) the United States; (ii) Canada; (iii) Japan; (iv) any jurisdiction where participation in the Fair Token Launch would be unlawful; and (v) any person or entity that is subject to financial‑sanctions legislation or regulation.
Window
The period during which Transactions are accepted in accordance with Section 4.
03 — Eligibility
A Participant must:
• be at least 18 years old (or, if an entity, be duly organised and in good standing);
• not be located in, or otherwise subject to, a Restricted Jurisdiction; and
• control the wallet used for the Transaction.
The Company may exclude any person where required by applicable law.
04 — Procedure
4.1 Window. The Fair Token Launch opens once deposits are enabled. It remains open until the Company posts a closure notice on the launch page and dApp interface at least 24 hours before the effective closing block.
4.2 Transaction. Send WHITE to the address at any time while the Window is open.
4.3 Mint & distribution. After the deposit is verified, the Company mints and delivers WHITENET to the wallet that executed each Transaction.
4.4 Wallet immutability & private key responsibility. The wallet that sends the Transaction is the only wallet that can receive WHITENET. If the private key is lost or compromised, there is no means to change the address or re‑issue tokens. Access to WHITENET may be lost permanently
4.5 Irrevocability. Deposits are final and cannot be reversed.
05 — Participant Statements
By submitting a Transaction you represent and warrant that:
1.
Capacity & authority – You have the legal capacity and authority to enter into these Terms and to perform all acts required under them.
2.
Eligibility – You meet the Eligibility Criteria in Section 3 and are not a citizen, resident or agent of a Restricted Jurisdiction nor subject to any sanction.
3.
Accurate information – All information you provide in connection with the Fair Token Launch is true, complete and not misleading.
4.
Lawful source of funds – WHITE deposited and gas fees paid
5.
Risk understanding – You have carefully reviewed the Risk Disclosure in Schedule 1 and accept the risks it describes.
6.
Utility acknowledgement – You understand that WHITENET carries only the utility set out in these Terms and does not represent equity, debt, profit‑sharing or any right to share in Company profits.
7.
Private key control – You are solely responsible for safeguarding the private key of the wallet used for the Transaction and accept that loss of the key may result in permanent loss of WHITENET.
If any of the above statements is or becomes untrue, the Company may void or refuse distribution of WHITENET without further liability.
06 — Disclaimers
Utility of WHITENET. WHITENET is the native token of the White Network blockchain. It may be used for payment of transaction (“gas”) fees, validator staking or delegation, governance participation and other utilities the protocol may enable from time to time.
Regulatory status. WHITENET and WHITE are issued on an unregulated basis. Neither token is regulated under the BVI Securities and Investment Business Act 2010 nor the Virtual Asset Service Providers Act 2022.
No advice. The Company provides no investment, tax or legal advice. You should consult your own advisers before participating.
Future development. The features, performance and adoption of WHITENET and the White Network are subject to ongoing research, development and market factors and may evolve over time.
Tax liability. You are solely responsible for calculating, reporting and paying any taxes, duties or assessments that may arise from depositing WHITE, holding or transferring WHITENET, or any subsequent disposition of WHITENET.
07 — Limitiation of Liability & Indemnity
Limitation of liability – To the fullest extent permitted by law, the Company is not liable for any indirect, special, incidental or consequential loss arising out of, or in connection with, these Terms or the Fair Token Launch. No Participant shall have any claim against the Company for direct monetary damages.
Indemnity – You agree to indemnify, defend and hold harmless the Company and its officers, directors, employees and contractors against any loss, liability, claim, damage or expense arising out of your breach of these Terms or violation of law.
08 — Dispute Resolution
Any dispute, controversy or claim arising out of or in connection with these Terms shall be referred to confidential arbitration under the BVI Arbitration Act 2013.
09 — Amendments
The Company may update these Terms on its official website. Each time you initiate a Transaction you must read and agree to the version of the Terms then in effect.
10 — Interpretation, Entire Agreement & Severability
These Terms set out the complete agreement between the Company and each Participant regarding the Fair Token Launch.
11 — Governing Law
These Terms and any non‑contractual obligations are governed by the laws of the British Virgin Islands.
Schedule 1 – Risk Disclosure
Market volatility. Prices of digital assets fluctuate widely due to market forces, regulatory developments and technological shifts.
Regulatory uncertainty. New or amended laws and regulations may affect the legality of holding or transferring WHITENET or operating the White Network.
Technology & cybersecurity. Smart‑contract vulnerabilities, software bugs or malicious attacks could lead to partial or total loss of tokens or network functionality.
Network performance & adoption. The success and utility of WHITENET depend on ongoing development, validator participation and user adoption.
Liquidity risk. An active or orderly secondary market for WHITENET may not develop.
Operational risk. Delays, errors or unforeseen issues during the Fair Token Launch could result in delayed or incomplete token distribution.
Extraordinary events. Natural disasters, conflict or regulatory action could impair network operations or token functionality.
Development risk. The White Network is pre‑launch and its specifications, timeline and ultimate success remain subject to change.
Force majeure events. Events beyond the Company’s reasonable control (for example acts of God, natural disasters, conflict, government action, large-scale technical disruptions) could delay or prevent token issuance, distribution or network operation.
WHITENET Fair Token Launch —
Terms & Conditions
Last updated: 12 May 2025
01 — Introduction
These Terms and Conditions (the “Terms”) govern a one‑time Fair Token Launch in which eligible holders of WHITE deposit their WHITE tokens in exchange for newly‑minted WHITENET tokens on the White Network blockchain.
The Fair Token Launch is organised by WhiteRock Institute Ltd, a British Virgin Islands company (No. 2159373) with its registered office at Trinite Chambers, PO Box 4301, Road Town, Tortola, British Virgin Islands (the “Company”, “we”, or “us”).
Deposited WHITE will be taken out of circulation. No consideration is received by the Company.
02 — Definitions
Term
Meaning
Participant
A person or entity that satisfies Section 3 and elects to take part.
Transaction
A non-refundable transaction sending WHITE to [address] while the Window remains open, taking deposited WHITE out of circulation.
Exchange Ratio
1 WHITENET for every 1 WHITE unless varied under Section 9.
Restricted Jurisdictions
(i) the United States; (ii) Canada; (iii) Japan; (iv) any jurisdiction where participation in the Fair Token Launch would be unlawful; and (v) any person or entity that is subject to financial‑sanctions legislation or regulation.
Window
The period during which Transactions are accepted in accordance with Section 4.
03 — Eligibility
A Participant must:
• be at least 18 years old (or, if an entity, be duly organised and in good standing);
• not be located in, or otherwise subject to, a Restricted Jurisdiction; and
• control the wallet used for the Transaction.
The Company may exclude any person where required by applicable law.
04 — Procedure
4.1 Window. The Fair Token Launch opens once deposits are enabled. It remains open until the Company posts a closure notice on the launch page and dApp interface at least 24 hours before the effective closing block.
4.2 Transaction. Send WHITE to the address at any time while the Window is open.
4.3 Mint & distribution. After the deposit is verified, the Company mints and delivers WHITENET to the wallet that executed each Transaction.
4.4 Wallet immutability & private key responsibility. The wallet that sends the Transaction is the only wallet that can receive WHITENET. If the private key is lost or compromised, there is no means to change the address or re‑issue tokens. Access to WHITENET may be lost permanently
4.5 Irrevocability. Deposits are final and cannot be reversed.
05 — Participant Statements
By submitting a Transaction you represent and warrant that:
1.
Capacity & authority – You have the legal capacity and authority to enter into these Terms and to perform all acts required under them.
2.
Eligibility – You meet the Eligibility Criteria in Section 3 and are not a citizen, resident or agent of a Restricted Jurisdiction nor subject to any sanction.
3.
Accurate information – All information you provide in connection with the Fair Token Launch is true, complete and not misleading.
4.
Lawful source of funds – WHITE deposited and gas fees paid
5.
Risk understanding – You have carefully reviewed the Risk Disclosure in Schedule 1 and accept the risks it describes.
6.
Utility acknowledgement – You understand that WHITENET carries only the utility set out in these Terms and does not represent equity, debt, profit‑sharing or any right to share in Company profits.
7.
Private key control – You are solely responsible for safeguarding the private key of the wallet used for the Transaction and accept that loss of the key may result in permanent loss of WHITENET.
If any of the above statements is or becomes untrue, the Company may void or refuse distribution of WHITENET without further liability.
06 — Disclaimers
Utility of WHITENET. WHITENET is the native token of the White Network blockchain. It may be used for payment of transaction (“gas”) fees, validator staking or delegation, governance participation and other utilities the protocol may enable from time to time.
Regulatory status. WHITENET and WHITE are issued on an unregulated basis. Neither token is regulated under the BVI Securities and Investment Business Act 2010 nor the Virtual Asset Service Providers Act 2022.
No advice. The Company provides no investment, tax or legal advice. You should consult your own advisers before participating.
Future development. The features, performance and adoption of WHITENET and the White Network are subject to ongoing research, development and market factors and may evolve over time.
Tax liability. You are solely responsible for calculating, reporting and paying any taxes, duties or assessments that may arise from depositing WHITE, holding or transferring WHITENET, or any subsequent disposition of WHITENET.
07 — Limitiation of Liability & Indemnity
Limitation of liability – To the fullest extent permitted by law, the Company is not liable for any indirect, special, incidental or consequential loss arising out of, or in connection with, these Terms or the Fair Token Launch. No Participant shall have any claim against the Company for direct monetary damages.
Indemnity – You agree to indemnify, defend and hold harmless the Company and its officers, directors, employees and contractors against any loss, liability, claim, damage or expense arising out of your breach of these Terms or violation of law.
08 — Dispute Resolution
Any dispute, controversy or claim arising out of or in connection with these Terms shall be referred to confidential arbitration under the BVI Arbitration Act 2013.
09 — Amendments
The Company may update these Terms on its official website. Each time you initiate a Transaction you must read and agree to the version of the Terms then in effect.
10 — Interpretation, Entire Agreement & Severability
These Terms set out the complete agreement between the Company and each Participant regarding the Fair Token Launch.
11 — Governing Law
These Terms and any non‑contractual obligations are governed by the laws of the British Virgin Islands.
Schedule 1 – Risk Disclosure
Market volatility. Prices of digital assets fluctuate widely due to market forces, regulatory developments and technological shifts.
Regulatory uncertainty. New or amended laws and regulations may affect the legality of holding or transferring WHITENET or operating the White Network.
Technology & cybersecurity. Smart‑contract vulnerabilities, software bugs or malicious attacks could lead to partial or total loss of tokens or network functionality.
Network performance & adoption. The success and utility of WHITENET depend on ongoing development, validator participation and user adoption.
Liquidity risk. An active or orderly secondary market for WHITENET may not develop.
Operational risk. Delays, errors or unforeseen issues during the Fair Token Launch could result in delayed or incomplete token distribution.
Extraordinary events. Natural disasters, conflict or regulatory action could impair network operations or token functionality.
Development risk. The White Network is pre‑launch and its specifications, timeline and ultimate success remain subject to change.
Force majeure events. Events beyond the Company’s reasonable control (for example acts of God, natural disasters, conflict, government action, large-scale technical disruptions) could delay or prevent token issuance, distribution or network operation.