Terms & Conditions

Mammoth WebApp Terms & Conditions

Last Updated: 10/10/24

Please read these Terms & Conditions ("Terms") carefully before using the Mammoth WebApp ("the Platform") operated by Mammoth ("we," "us," or "our").

1. Acceptance of Terms

1.1. By accessing or using the Platform, you agree to be bound by these Terms. If you disagree with any part of the Terms, you may not access the Platform.

1.2. These Terms constitute a legally binding agreement between you and Mammoth.

2. Definitions

2.1. "Platform" refers to the Mammoth WebApp and all associated services. 2.2. "User" refers to any individual or entity using the Platform. 2.3. "Prediction Market" refers to any market created on the Platform for predicting outcomes. 2.4. "MammothPoints" refers to the non-monetary reward system used on the Platform. 2.5. "$TUSK" refers to the future cryptocurrency token associated with the Platform.

3. Eligibility and Geographical Restrictions

3.1. You must be at least 18 years old and able to form legally binding contracts to use the Platform.

3.2. By using the Platform, you represent and warrant that: a) You meet the age requirement. b) You have full power and authority to enter into these Terms. c) Your use of the Platform does not violate any applicable law or regulation. d) You are not located in, under the control of, or a national or resident of any restricted jurisdiction.

3.3. Restricted Jurisdictions: a) The Platform is not offered to persons or entities who reside in, are citizens of, are incorporated in, or have a registered office in any restricted jurisdiction as determined by Mammoth. b) Restricted jurisdictions may include, but are not limited to, countries subject to sanctions by the United States, the United Nations, or the European Union. c) We reserve the right to add or remove jurisdictions from our list of restricted areas at any time and without prior notice.

3.4. User Responsibility: a) It is your sole responsibility to determine if you are eligible to use the Platform based on your geographical location and applicable laws. b) You agree to comply with all applicable local, state, national, and international laws, statutes, ordinances, and regulations regarding your use of the Platform. c) We are not responsible for determining whether or not your use of the Platform is legal in your jurisdiction.

3.5. IP and Access Restrictions: a) We may implement controls to restrict access based on users' IP addresses or other indicators of geographical location. b) Attempts to circumvent geographical restrictions, such as through the use of VPNs or proxy services, are strictly prohibited and may result in immediate termination of your access to the Platform.

3.6. Changes in Legal Status: a) If your country of residence or other circumstances change such that you violate any of the representations and warranties made above, you agree to immediately cease using the Platform and notify us.

3.7. We reserve the right to request proof of eligibility at any time and to terminate or restrict your access to the Platform if we have reason to believe you are accessing it from a restricted jurisdiction.

4. Platform Overview

4.1. Mammoth is a decentralized prediction market platform focused on Solana-based cryptocurrency markets and world events.

4.2. Users can create and participate in prediction markets, trade tokens, and earn MammothPoints.

4.3. The Platform uses blockchain technology and smart contracts to operate prediction markets.

5. User Accounts

5.1. To use the Platform, you must connect a Solana wallet.

5.2. You are responsible for: a) Maintaining the confidentiality of your wallet and all activities that occur under your account. b) Promptly notifying us of any unauthorized use of your account.

5.3. We reserve the right to refuse service, terminate accounts, or cancel transactions at our discretion.

6. Prediction Markets

6.1. Market Creation: a) Users can create markets for Solana-based tokens only. b) Markets can be created as either Long (predicting price/market cap will increase) or Short (predicting price/market cap will decrease). c) World event markets are created by platform administrators. d) A fee of 0.1 SOL is charged for market creation.

6.2. Market Participation: a) Users can buy Yes or No SPL tokens for any open market, regardless of whether it's a Long or Short market. b) Yes tokens represent agreement with the market prediction, while No tokens represent disagreement. c) All trades are subject to a 0.1% fee.

6.3. Market Resolution: a) Cryptocurrency markets are resolved automatically based on reliable price data. b) World event markets are resolved by platform administrators based on verified outcomes. c) Holders of the winning token type (Yes or No) can redeem their tokens for SOL, subject to a 0.1% winning bet fee. d) Losing tokens become worthless but remain in the user's wallet as a record of participation.

6.4. We reserve the right to remove, modify, or resolve any market at our discretion.

7. Trading and Fees

7.1. All trades and transactions on the Platform are subject to fees as outlined in our Fee Structure: a) Market creation fee: 0.1 SOL b) Trading fee: 0.1% of trade value c) Winning bet fee: 0.1% of withdrawn amount

7.2. Fees are subject to change. It is your responsibility to check the current fee structure before engaging in any transaction.

7.3. All fees are collected in SOL and are non-refundable.

7.4. Collected fees are used for marketing efforts and to buy back and burn $TUSK tokens.

8. MammothPoints

8.1. MammothPoints are a reward system with no monetary value.

8.2. MammothPoints are earned through activities on the Platform and the Telegram bot.

8.3. MammothPoints may be convertible to $TUSK tokens in the future, but this is not guaranteed.

8.4. We reserve the right to modify, suspend, or terminate the MammothPoints system at any time.

8.5. MammothPoints are non-transferable and cannot be exchanged for monetary value.

9. Risks and Responsibilities

9.1. Cryptocurrency and Blockchain Risks: a) Cryptocurrency markets are highly volatile. You acknowledge and accept the risks associated with trading and participating in prediction markets. b) Users acknowledge the experimental nature of blockchain technology and accept the associated risks. c) We are not responsible for any losses due to blockchain-related issues such as forks, mining attacks, or network congestion. d) All transactions on the blockchain are irreversible. We cannot reverse, cancel, or refund transactions once executed.

9.2. You are solely responsible for: a) Any losses incurred through your use of the Platform. b) Properly reporting and paying all applicable taxes related to your activities on the Platform. c) The security of your private keys and wallet. Lost or stolen private keys cannot be recovered by Mammoth.

9.3. We do not provide financial, investment, legal, or tax advice. All decisions to participate in markets or trade tokens should be made independently.

9.4. Smart Contract Risks: a) The Platform utilizes smart contracts. Users acknowledge the risks associated with smart contract technology, including potential bugs or vulnerabilities.

9.5. Liquidity Risks: a) The Platform's liquidity is dependent on user participation. There may be times when it is difficult or impossible to liquidate a position.

10. Prohibited Activities

You agree not to engage in any of the following activities:

10.1. Violating any applicable laws or regulations.

10.2. Interfering with or disrupting the integrity of the Platform.

10.3. Attempting to gain unauthorized access to any part of the Platform.

10.4. Using the Platform for any illegal or unauthorized purpose.

10.5. Manipulating markets or engaging in any form of market abuse.

10.6. Impersonating any person or entity or falsely stating your affiliation with a person or entity.

10.7. Uploading or transmitting viruses, malware, or other malicious code.

10.8. Attempting to circumvent geographical restrictions.

11. Intellectual Property

11.1. All content on the Platform, including but not limited to text, graphics, logos, and software, is the property of Mammoth and is protected by intellectual property laws.

11.2. You are granted a limited, non-exclusive, non-transferable license to access and use the Platform for personal, non-commercial purposes.

12. Data Privacy and Security

12.1. We collect and process personal data in accordance with our Privacy Policy.

12.2. You are responsible for the security of your wallet and any device used to access the Platform.

12.3. We implement reasonable security measures but cannot guarantee absolute security of data transmitted over the internet.

13. KYC/AML Compliance

13.1. We may implement Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures at any time. Users agree to comply with such procedures if implemented.

14. Forks and Airdrops

14.1. In the event of a fork or airdrop affecting Solana or any tokens traded on the Platform, we reserve the right to decide whether to support the new assets.

14.2. Users are not entitled to any forked assets or airdrops unless explicitly stated by Mammoth.

15. Price Oracles and Data Feeds

15.1. The Platform relies on third-party price oracles and data feeds for market resolution. We are not responsible for any errors or delays in this data.

16. Regulatory Compliance and Actions

16.1. The Platform operates in a rapidly evolving regulatory environment. Users are responsible for complying with all applicable laws in their jurisdiction.

16.2. We reserve the right to restrict or deny access to the Platform based on regulatory requirements or concerns.

16.3. In the event of regulatory actions against the Platform or any cryptocurrencies traded on it, we may be required to freeze assets or suspend operations.

17. Limitation of Liability

17.1. To the maximum extent permitted by law, Mammoth shall not be liable for any indirect, incidental, special, consequential, or punitive damages, or any loss of profits or revenues.

17.2. Our total liability for any claim arising out of or relating to these Terms or the Platform shall not exceed the amount of fees paid by you to Mammoth in the 6 months preceding the claim.

18. Indemnification

You agree to indemnify, defend, and hold harmless Mammoth and its officers, directors, employees, and agents from and against any claims, liabilities, damages, losses, and expenses arising out of or in any way connected with your access to or use of the Platform, including any violations of these geographical restrictions.

19. Modifications to the Platform and Terms

19.1. We reserve the right to modify or discontinue the Platform or these Terms at any time.

19.2. We will provide notice of significant changes to these Terms.

19.3. Your continued use of the Platform after any changes constitutes acceptance of those changes.

20. Termination

20.1. We may terminate or suspend your access to the Platform immediately, without prior notice or liability, for any reason, including if we believe you have accessed the Platform from a restricted jurisdiction.

20.2. Upon termination, your right to use the Platform will immediately cease.

20.3. All provisions of the Terms which by their nature should survive termination shall survive.

21. Governing Law and Jurisdiction

21.1. These Terms shall be governed by and construed in accordance with the laws of Singapore, without regard to its conflict of law provisions.

21.2. Any dispute arising out of or in connection with these Terms, including any question regarding its existence, validity, or termination, shall be referred to and finally resolved by arbitration in Singapore in accordance with the Arbitration Rules of the Singapore International Arbitration Centre ("SIAC Rules") for the time being in force, which rules are deemed to be incorporated by reference in this clause.

21.3. The seat of the arbitration shall be Singapore.

21.4. The Tribunal shall consist of one (1) arbitrator.

21.5. The language of the arbitration shall be English.

21.6. Nothing in this clause shall limit the right of Mammoth to bring proceedings against you in any other court of competent jurisdiction, nor shall the bringing of proceedings in any one or more jurisdictions preclude the bringing of proceedings in any other jurisdiction, whether concurrently or not, to the extent permitted by the law of such other jurisdiction.

22. Compliance with Singapore Law

22.1. You acknowledge and agree that your use of the Platform must comply with all applicable laws and regulations of Singapore.

22.2. Mammoth is committed to complying with all relevant Singapore regulations that may apply to our services. As the regulatory landscape for cryptocurrency and prediction markets evolves, we will adapt our practices as necessary to ensure compliance.

22.3. Mammoth reserves the right to comply with any legal orders, directions, or regulations issued by relevant Singapore authorities, which may include disclosing user information or suspending services.

22.4. Users are responsible for determining the legality of their use of the Platform under Singapore law and any other applicable jurisdictions.

23. Severability

If any provision of these Terms is held to be unenforceable or invalid under the laws of Singapore, such provision will be changed and interpreted to accomplish the objectives of such provision to the greatest extent possible under applicable law, and the remaining provisions will continue in full force and effect.

24. Entire Agreement

These Terms constitute the entire agreement between you and Mammoth regarding the use of the Platform, superseding any prior agreements. Any failure by Mammoth to exercise or enforce any right or provision of these Terms shall not constitute a waiver of such right or provision.

25. Contact Information

For any questions about these Terms, please contact us at [Insert Contact Information].

By using the Mammoth WebApp, you acknowledge that you have read, understood, and agree to be bound by these Terms & Conditions.