MAVEN Terms and Conditions

MAVEN is a bitcoin-focused digital, hard asset based website, using a Liquid NFT (LNFT) platform which provides a new way for commerce to interact in a more direct way. MAVEN provides individuals and businesses with an easy and intuitive way to mint, sell and trade non-fungible tokens (NFTs) on the Liquid Network (a Bitcoin sidechain). MAVEN allows business transactions to be conducted securely. As a business, individual or purchaser you should understand exactly how MAVEN works before you decide to participate.

These Terms & Conditions give a quick summary, but you should review the MAVEN FAQs and ask questions on the MAVEN support forums to get more information.

These Terms Set Forth a Legally Binding Agreement

THESE TERMS SET FORTH THE LEGALLY BINDING TERMS AND CONDITIONS THAT GOVERN YOUR USE OF THE WEBSITE OR PLATFORM. BY ACCESSING OR USING THIS SITE, YOU AGREE TO BE BOUND TO THESE TERMS AND CONDITIONS AND YOU HAVE THE RIGHT, AUTHORITY, AND CAPACITY TO ENTER INTO THESE TERMS. IF YOU DO NOT AGREE WITH ALL OF THE PROVISIONS OF THESE TERMS, YOU ARE PROHIBITED FROM ACCESSING, USING, OR TRANSACTING ON THE WEBSITE. YOU CONFIRM THAT YOU ARE LEGALLY PERMITTED TO USE THE SERVICES IN YOUR JURISDICTION AND THAT THE COMPANY IS NOT LIABLE FOR YOUR COMPLIANCE WITH SUCH APPLICABLE LAWS. IN ADDITION, BY PARTICIPATING IN ANY PURCHASE OR AUCTION YOU AGREE TO THE TERMS OF THAT PURCHASE OR AUCTION.

Privacy Policy

Our Privacy Policy can be found here and it describes the ways we collect, use, store and disclose your personal information. You agree to the collection, use, storage, and disclosure of your data in accordance with our Privacy Policy.

The Website

MAVEN is an open source curated instance of the LNFT platform for Bitcoin asset based businesses and purchasers. LNFT is a web-based platform for issuing and transacting with non-fungible tokens on the Bitcoin Liquid Network.

Accessing and Interacting with the Website

User account registration and types of accounts

All new users will need a valid email address to register in the Website.

The Website has two types of user accounts: Businesses and Purchasers account. All new users will automatically receive a Purchaser account when registering in the Website. This account will allow the User to Purchase NFTs in the Website but it will not provide permission to upload NFTs to the Website or mint NFTs. Conversely, the Business account will have the same functionality as the Purchaser account with the added permissions of uploading and minting your Business NFTs in the Website, once approved.

Initially, only a limited number of Business accounts will be granted to selected businesses. Users must ensure that Account(s) registered are Hard Asset related and will not be used by any other person. You must inform us immediately of any breach of security, loss, theft or unauthorized use of your username, password or security information at support@MAVENnft.io

Users agree to use the Website only for purposes that are legal and in accordance with these Terms and any applicable laws or regulations. You may not, and may not allow any third party to:

Send, upload, distribute or disseminate any unlawful, defamatory, harassing, abusive, fraudulent, obscene, or otherwise objectionable content Undertake any unlawful activity which would violate, or assist in violation of, any law, statute, ordinance, or regulation, sanctions program administered in any relevant country.

Distribute viruses, worms, defects, Trojan horses or any other type of malware or items of a destructive or deceptive nature

Impersonate another person (via the use of an email address or otherwise)

Upload, post, transmit or otherwise make available through the Platform any content that infringes the intellectual proprietary rights of any party

Operate to defraud other Users, or any other person or provide false, inaccurate or misleading information

Engage in, promote, or encourage illegal activity including but not limited to terrorism, tax evasion or money laundering.

Exploit the Website for any unauthorized commercial purpose

Remove any copyright, trademark or other proprietary rights notices contained in the Platform or any part of it

Create user accounts by automated means or under false or fraudulent pretenses.

The Operator reserves the right to terminate, suspend or restrict Users access to any Account(s) if there is reasonable suspicion by us that the person logged into your Account(s) is not you or if we suspect that the Account(s) have been or will be used for any illegal, fraudulent, or unauthorized purposes in accordance with this Terms. Under no circumstances shall the Operator indemnify persons in accordance with these Terms, be responsible or liable for any direct or indirect losses, damages or costs suffered by you or any other person or entity due to any such termination, suspension or restriction of access to any Account(s).

Liquid Wallet

When registering a new account, the Website will automatically generate a free built-in non-custodial Liquid web-wallet that will be used by default in the Website. This is the recommended wallet to interact with the Website and it can be backed-up by recording the corresponding 12-words mnemonic seed phrase. Users however, have the option to import a different wallet by using their own 12-word mnemonic seed phrase.

MAVEN is a non-custodial service meaning that neither the Website nor Operator are ever in control of assets in Users wallets. Users are solely responsible for the security of their account and wallets. As with all crypto assets, control of the password, mnemonic seed phrase or private key is control of the asset. This is true for both NFTs and of the assets used to purchase them (e.g. L-BTC). Users also should realize that if the password, mnemonic seed phrase or private key is lost the assets will be permanently unrecoverable. In addition, since the wallet used to interact with the Website runs on the User’s device and in-browser, it is vulnerable to hacks and software bugs, in the operating system, and in other software (including malware) on that device and in the browser. You agree to maintain at all times adequate security and control of all of your account details, passwords, or any other codes that you use to access or interact with the Website. Users acknowledge and agree that the technologies used in MAVEN (including but not limited to cryptocurrencies, web wallets, atomic swaps, NFTs, integrations with 3rd parties) are experimental, speculative, and inherently risky. Users acknowledge and agree that the MAVEN services may be subject to bugs, malfunctions, timing errors, hacking and theft, that can adversely affect your account and may expose you to a risk of total loss, forfeiture of your funds or MAVEN Items, or lost opportunities to buy or sell MAVEN Items. MAVEN and Operator assume no liability or responsibility for any such failures, risks, or uncertainties.

Transactions in the Website are settled and recorded in the Liquid Network, (a Bitcoin federated sidechain) using Liquid assets such as Liquid bitcoin (L-BTC) or Liquid USD Tether (L-USDt). In order to mint or trade NFTs in the Website, Users have to fund their wallet with L-BTC. To reduce the friction between the Bitcoin and Liquid Networks and provide an easy onboarding experience, the Website has a built-in integration with a coin.os API that allows users to instantly convert BTC to L-BTC by depositing to an on-chain address or paying a lightning network invoice. While L-BTC is necessary to pay for transaction fees in the Website (including NFT minting), it is possible to fund your wallet with other supported Liquid assets such as L-USDt or Liquid CAD (L-CAD) to bid for NFTs denominated in that asset type.

Transactions in MAVEN are peer-to-peer and use atomic swaps. This means that neither the Website or Operator need to hold funds in escrow in Token sales. Partially Signed Elements Transactions (PSET) used in these atomic swaps ensure that the parties involved in a transaction follow the Sale terms. In addition, royalties and auction holding periods are enforced through a 2-of-2 signing server provided by the Website that only signs off on transactions that meet certain conditions including making sure that Businesses receive their corresponding sales/royalties.

Creation of MAVEN Items

All Token(s)”, “Creation(s)”, “Work”) posted on the MAVEN website is associated with a unique Liquid asset exclusively issued by an approved MAVEN Business. Each MAVEN Item (“Item(s)”, “Non-fungible token(s)”, “NFT(s)” or “Token”) is minted by a Business using the asset issuance functionality of the Liquid Network. The type of media files that are currently supported and can be used by Businesses in MAVEN to post their Hard Assets are jpg, png, gif and mp4. When a Business first uploads their Work to MAVEN, the media file is added to the IPFS network and assigned a unique content identifier (CID) derived from the SHA256 hash of the file. The Website hosts an IPFS node that is capable of maintaining a copy and serving the media files to other nodes. Businesses or anyone interested could run their own IPFS node to provide this service and add redundancy to the system. After adding the token to the IPFS network, the Business's wallet generates a Liquid asset issuance transaction containing some metadata including the title of the Items tokenized and the CID. This issuance transaction (“Mint”) is then broadcasted to be permanently recorded in the Liquid blockchain, added to the Blockstream Asset Registry and the minted Token is sent to the Business’s wallet that can then be traded in the Website. This action provides MAVEN Businesses and Purchasers with a permanent record of authenticity and ownership of the Token. Since the asset registry is an open source project publicly available on GitHub anyone interested could clone this project and provide redundancy to the system. After a Token is minted by a Business, he or she can then propose the terms (“Sale”) under which the Token will be sold to Purchasers (including the option to add royalties to be assigned to the original Business) in a primary sale. After a MAVEN Item is sold by the original Business, it can then be traded or resold within MAVEN by the Website to any MAVEN User.

MAVEN Businesses

Initially, only invited Businesses will be able to mint Tokens and make a primary Sale of MAVEN Items. This responsibility will then be passed on to the active MAVEN Businesses. Businesses seeking an invitation to create and list works for sale on MAVEN must submit a request that can be found here. MAVEN has unilateral discretion in curating on the Website and makes no guarantees or promises that any Businesses or Individuals will be approved, even if they were invited by a member of MAVEN to submit a request

By posting their Work and offering a Token for Sale, an Individual or Business agrees with Operator, and represents and warranties to Operator and any purchaser, purchasing or bidding on the Work that: The Individual or Business has the legal right to post the Work and to offer the Token and grant the rights in the Work described in the Sale terms

That the Work doesn’t violate any third party’s rights, including copyright or trademark rights or the moral rights of individual or Business (s)

that the Work doesn’t violate any law, including blasphemy or decency laws, and can legally be displayed to anyone regardless of his or her age

Any information provided by the Individual or Business, whether about themselves or any Work, is true, correct and complete and they will update as needed

They are not acting individually or in collusion with anyone, including any User, to manipulate the Sale

The Individual or Business assumes all risks of using the Website, issuing Tokens, conducting Sales and settling Sales

The Individual or Business grants to the Operator a perpetual, world-wide, royalty-free license to use the Work and any information provided about the Work in operating the Website or in promoting the Website or Operator’s business generally. The fact that Operator may inspect the Work at, prior to or after posting to the Website does not affect these agreements, representations and warranties

Individual or Business agrees to indemnify MAVEN and Operator and be held liable for any claim against MAVEN or Operator arising out of the Individual or Business’s breach of these Terms. Individual or Business releases and forever discharges MAVEN and Operator from any damages or causes of action resulting from a sale of any of the Individual or Business’s listed MAVEN Items occurring after the Individual or Business’s breach of these Terms.

By posting their Work and offering a Token, an Individual or Business acknowledges to Operator that:

the Individual or Business understands that technical errors, whether on

the Individual or Business’s part or in the Website software, the Liquid

Network or any underlying cryptocurrency network are solely the risk of the Individual or Business

The Individual or Business understands that Operator can refuse any Work or terminate any Sale at any time in its sole discretion for any reason or no reason at all without any liability to the Individual or Business

If Operator receives any DMCA notice or other claim of infringement of rights or of law, Operator may act as it sees fit in order to protect its interests, including removing the purportedly offending work from the Website, suspending or removing the Individual or Business account and providing the claimant or law enforcement agency with any and all information about the Individual or Business and the Work

MAVEN Purchasers

By bidding on an Token, a Purchaser agrees with Operator, and represents and warranties to Operator and the Individual or Business or any other MAVEN User that:

They are old enough to access the site and to agree to buy the Token under applicable law

They own and are entitled to use the assets they are using to buy the Token and such assets are not proceeds of any criminal activity

Owning and displaying the Work does not violate applicable law

They are not acting individually or in collusion with anyone, including the selling Business, to manipulate the Sale

By bidding on a Token, a Purchaser acknowledges to the Operator that:

The Purchaser understands that technical errors, whether on the Purchaser’s part or in the Website software, the Liquid Network or any underlying cryptocurrency network are solely the risk of the Purchaser

Winning a Sale creates an agreement between the Individual or Business and the Purchaser

The Operator may act as it sees fit in order to protect its interests, including cancelling the Purchasers' account and providing the Individual or Business or law enforcement agency with any and all information about the Purchaser.

No assurance is given as to the current or future economic value of any Work

The Tokens are issued as assets on the Liquid Network. In the event that the Liquid Network ceases to operate, the Tokens will no longer be capable of transfer.

Purchasers and Individuals and Businesses

By registering to use the Website, each Purchaser and Individual or Business agrees with MAVEN that:

All information provided in registering is true, correct and complete and will be updated in order to maintain it as true, correct and complete

By posting any information on any forums maintained on the Website, the Purchaser and Individual or Business grants to Operator a perpetual, world-wide, royalty-free license to use such information in operating the Website or in promoting the Website or Operator’s business generally and Operator may delete any such posting at any time for any reason or no reason at all.

Users are responsible to pay any taxes, duties, and assessments now or hereafter claimed or imposed by any governmental authority, “associated with your use of the Website (including, without limitation, any taxes that may become payable as the result of your ownership, transfer, purchase, sale, or creation of any Work(s)).

You affirm that you are over the age of 18, as the Website is not intended for children under 18.

MAVEN Marketplace

MAVEN provides an easy and intuitive way for Individuals or Businesses and Purchaser to buy and sell on MAVEN. Works are listed in a searchable/sortable/filterable marketplace gallery. Bids and sales are conducted peer-to-peer using atomic swaps so the Website or Operator do not hold funds on escrow and are never in custody of User’s funds or MAVEN Items. Listings, bids, transfers and new Works activity are logged and presented in a site-wide feed. Royalties and auction holding periods are enforced through a 2-of-2 signing method where one of the keys is controlled by the Website and only transactions that meet certain conditions (such as a royalty recipient receiving the corresponding royalties) are signed off. Once NFTs are in a 2-2 wallet they are locked in the Website to ensure Sale terms such as auction times and royalties conditions are fulfilled. The terms of a Sale, like purchase currency, bidding intervals, settlement and number of Tokens auctioned are specified on the Site for the Sale

There are several trading options available for Users that include:

Listing options:

Simple listing: Individual or Business or Token owners can set a predefined price for the MAVEN Item or not, and decide on the listing asset denomination (e.g. L-BTC, L-USDt, etc.). The option to define a royalty rate (in percentage) is also available only for Individual or Business when originally listing a MAVEN Item in a primary sale. This rate can not be modified afterwards by any Token owner. This listing option keeps the MAVEN Item available for purchase/bid as long as the Sale terms are not fulfilled, delisted or deleted by the Individual or Business or Token owner.

Auctions: This type of listing provides the same options as simple listing but adds the possibility to the Individual or Business or Token owners to set a start and end date where offers can be presented by other Users. Once the auction is completed, the Individual or Business or Token owner can select an offer to complete the Sale.

Bidding options:

Make an offer: In this case a listing price is not predefined for the MAVEN Item. This allows Users to make offers on a MAVEN Item that the Individual or Business or current owner of the MAVEN Item can then accept, reject or wait until more offers are available.

Buy Now: Individual or Business or Token owners can decide to list a MAVEN Item for a predefined price. This allows other Users to automatically buy the MAVEN Item for the listed price. The completion of the trade is enforced by an atomic swap transaction created by the Individual or Business or Token owner wallet when listing a MAVEN Item. In this scenario however, it is also possible for Users to make an offer instead of buying the MAVEN Item.

Miscellaneous

Each Individual or Business and Purchaser agrees to indemnify the Operator and be held liable for any claim against the Operator arising out of the Individual’s or Businesses’ and Purchaser’s breach of these Terms and all associated costs and expenses of investigation or defense, including costs of counsel. The Operator may modify these Terms at any time and by continuing to use this site, you are deemed to have agreed to the modified terms.

Disclaimers

TO THE EXTENT PERMITTED BY APPLICABLE LAW, OPERATOR DISCLAIMS ALL WARRANTIES, CONDITIONS, AND REPRESENTATIONS OF ANY KIND, INCLUDING THOSE RELATING TO ANY TOKEN, THE WALLET, THE LIQUID NETWORK OR THIS SITE GENERALLY, WHETHER EXPRESS, IMPLIED, STATUTORY, OR OTHERWISE, INCLUDING THOSE RELATED TO MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON- INFRINGEMENT, AND THOSE ARISING OUT OF COURSE OF DEALING OR USAGE OF TRADE.

Limitations on Liability

TO THE EXTENT PERMITTED BY LAW, THE TOTAL LIABILITY OF THE OPERATOR FOR ANY CLAIMS UNDER THESE TERMS, INCLUDING FOR ANY IMPLIED WARRANTIES, IS LIMITED TO THE TOTAL AMOUNT YOU PAID TO US IN FEES OVER THE TWELVE (12) MONTHS PRECEDING THE DATE ON WHICH THE CLAIM AROSE. TO THE EXTENT PERMITTED BY LAW, THE OPERATOR WILL NOT BE RESPONSIBLE FOR LOST PROFITS, REVENUES, OR DATA, FINANCIAL LOSSES OR INDIRECT, SPECIAL, CONSEQUENTIAL, EXEMPLARY, OR PUNITIVE DAMAGES.

Arbitration

ANY DISPUTES BETWEEN USERS AND OPERATOR WILL BE RESOLVED THROUGH BINDING AND FINAL ARBITRATION INSTEAD OF THROUGH COURT PROCEEDINGS. YOU WAIVE YOUR RIGHT TO ANY JURY TRIAL OF ANY CLAIM. All controversies, claims, counterclaims, or other disputes arising between you and the Operator relating to these terms and conditions, the Website or any Work or transaction shall be submitted for binding arbitration under the Rules of the laws of Panamá. The arbitration will be heard and determined by a single arbitrator. The arbitrator’s decision will be final and binding upon the parties and may be enforced in any court of competent jurisdiction. The parties agree that the arbitration will be kept confidential and that the existence of the proceeding and any element of it (including, without limitation, any pleadings, briefs or other documents submitted or exchanged and any testimony or other oral submissions and awards) will not be disclosed beyond the arbitration proceedings, except as may lawfully be required in judicial proceedings relating to the arbitration or by applicable disclosure rules and regulations of securities, regulatory authorities, or other governmental agencies.

However any Individual or Business or Purchaser or Operator may also bring qualifying claims in small claims court.

Choice of Law

These Terms will be governed by and construed under the laws of the country of Panamá, without giving effect to any conflict of laws rules or provisions.

These Terms were last updated on January 22, 2022.