These Terms of Use were published on and last updated on May 15, 2021

Please read these terms of use ("Terms of Use") carefully. By accessing our websites at [www.artex.app], including any subdomain thereof (the "websites"), clicking on the "Create Account" button, or by accessing or using the platform operated by Artex and the services or products offered therein (the "Services"), you acknowledge and agree that you have read, understand and agree to be legally bound by these Terms of Use, and all terms incorporated by reference, as well as our Privacy Policy regardless of whether you are a registered member or registered user of the Artex Platform. If you do not wish to continue to be bound by these Terms of Use, please stop using the Artex Platform, the websites or the Services immediately.

Changes to Terms of Use

Amendments may be made to the Terms of Use from time to time, and posted on the websites, with an indication of the date on which the Terms of Use were last revised. You acknowledge, understand and agree that the continued use of the Artex Platform and the Services or websites after we have made any such changes constitutes your acceptance of the new Terms of Use.

Eligibility

Artex may restrict or limit the use of the Artex Platform or the Services in certain jurisdictions ("Restricted Jurisdictions"). Restricted Jurisdictions will be determined from time to time by Artex, in accordance with any applicable sanctions regulations or selling restrictions, which is necessary for Artex to be in compliance with relevant laws and regulations. This list (as at the date of these Terms and Conditions) include, Democratic People’s Republic of Korea (DPRK), Iran, Cuba, Albania, Serbia, Sudan or Syria (or any other countries which are subject to applicable government sanctions).

You represent and warrant that you: (1) (if you are an individual) have legal capacity and are of legal age to form a binding contract and that you are at least 18 years old, (2) have not previously been rejected for an account or removed/suspended/restricted from using the Artex Platform or the Services, (3) are of sound mind and are capable of taking responsibility for your own actions and have full power and authority to enter into this agreement, (4) are not violating any other agreement to which you are a party in entering in this agreement, (5) you are not a resident or citizen of any Restricted Jurisdiction, (6) all the information you provide to us are accurate, up to date and not misleading and that you will notify us of any changes to any information you have provided (7) any money that you use through the Artex Platform or the Services do not originate from drug trafficking, abduction, terrorist activity or any other criminal activity that is unlawful or could be considered unlawful by any relevant jurisdiction, (8) will not use the Artex Platform or the Services if any applicable laws in your country prohibit you from doing so and that your use of the Artex Platform or the Services do not violate any laws or regulations of any jurisdiction that applies to you.

In addition, if you are acting on behalf of a legal entity, you further represent and warrant that (1) such legal entity is duly incorporated and validly existing under the applicable laws of the jurisdiction of its incorporation, and (2) you are duly authorized by such legal entity to act on its behalf.

Registrations

You agree to provide us with the information we request for the purposes of identity verification, know-your-customer (KYC) and detection of money laundering, terrorist financing, fraud, or any other financial crime and permit us to keep a record of such information. You will need to complete certain verification procedures before you are able to use certain Services on the Artex Platform, and in some cases, extra verification or information may be required. Limitations may be applied to your use of the Services, and these limitations on use may be altered as a result of information collected from you on an ongoing basis.

The information that we request may include certain personal information, including but not limited to, your name, address, telephone number, e-mail address, date of birth, residency, citizenship, identification number, information regarding your bank account and any other personally identifiable information that we may ask for from time to time such as a copy of your passport, proof of addresses or other identifying documentation. In providing such information or other information that may be required, you confirm that the information is accurate and authentic. You agree to update us of any changes in the information you have provided. We may require you to submit additional information about yourself and your business, provide extra records or confirmations.

We reserve the right to limit your use of the Platform and the Services or terminate any relationship with you depending on the results of such due diligence. If you do not provide such information within the time frame we require, or provide inaccurate, incomplete or misleading information, we reserve the right to limit, block access or terminate any relationship with you.

You authorize us to make inquiries, whether directly or through third parties, that we consider necessary to verify your identity or to protect you and us against fraud or financial crime, and to take action we reasonably deem necessary based on the results of inquiries. When we carry out these inquiries, you acknowledge and agree that your personal information may be disclosed to reference and fraud prevention or financial crime agencies and that these agencies may respond to our inquiries in full.

Privacy & Data Protection

You acknowledge that we may process personal data in relation to you (if you are an individual), and personal data that you have provided or in the future provide to us in relation to your employees or other associated individuals, in connection with the Terms of Use (or such other agreements). You represent and warrant that: (1) your disclosure to us of any personal data relating to individuals other than yourself was or will be made in accordance with all applicable data protection and data privacy laws, and those data are accurate, up to date and relevant when disclosed; (2) before providing any personal data to us, you have read and understood our Privacy Policy or have provide such Privacy Policy to such individual other than yourself; (3) from time to time when provided with a replacement version of the Privacy Policy, you will promptly read such notice and provide a copy to the individual whose data you have provided to us.

Electronic Signatures and Agreement

You acknowledge and agree that by clicking the "I agree" or similar buttons or links as may be designated by Artex to show your approval of any foregoing texts, the use of the Artex Platform or the Services, you are entering into a legally binding contract. You hereby agree to the use of electronic communication to enter into contracts and other records and to the electronic delivery of notices, policies, records of use or transactions initiated or completed through our websites and Artex Platform. Furthermore, you waive any rights or requirements under laws or regulations in any jurisdictions which require an original (non-electronic) signature or delivery or retention of non-electronic records, to the extent permitted under such applicable law.

Electronic Notices

You consent to electronically receive all notices, communications, agreements, documents and disclosures ("Notices") that we provide you as a user of the Artex Platform and the Services. We will provide these Notices by posting on the websites or by sending through at the email address that you have provided us, or through instant messaging chats and/or such other electronic communication.

Trademarks

"Artex" and other graphics, logos, designs, page headers, buttons, scripts, service names are registered trademarks, trademarks or trade property of Artex in several countries. Artex’ trademarks may not be used in whole or in part without the prior written consent of Artex.

Limited License

Artex grants you a limited, non-exclusive, non-transferable license, subject to these Terms of Use, to access and use the Artex Platform, the Services and the websites (the "Content") solely for approved purposes as permitted by us from time to time. All other use of the Content is expressly prohibited and all other right, title, and interest in the Content is exclusively the property of Artex. You agree not to copy, transmit, distribute, sell, license, reverse engineer, modify, publish or participate in the transfer or sale of, creative derivative works from, or in any other way use any of the Content in whole or in part. You may not copy, imitate or use any of the Content without our prior consent. No part of the Content may be reproduced in any manner, in whole or in part, without the written consent of Artex.

Disclaimers

PLEASE READ THE ENTIRETY OF THIS "NOTICE AND DISCLAIMER" SECTION CAREFULLY. NOTHING HEREIN CONSTITUTES LEGAL, FINANCIAL, BUSINESS OR TAX ADVICE AND YOU SHOULD CONSULT YOUR OWN LEGAL, FINANCIAL, TAX OR OTHER PROFESSIONAL ADVISOR(S) BEFORE ENGAGING IN ANY ACTIVITY IN CONNECTION HEREWITH. NEITHER ARTEX (THE COMPANY), ANY OF THE PROJECT TEAM MEMBERS (THE ARTEX TEAM) WHO HAVE WORKED ON THE ARTEX PLATFORM (AS DEFINED HEREIN) OR PROJECT TO DEVELOP THE ARTEX PLATFORM IN ANY WAY WHATSOEVER, ANY DISTRIBUTOR/VENDOR OF ARTEX TOKENS (THE DISTRIBUTOR), NOR ANY SERVICE PROVIDER SHALL BE LIABLE FOR ANY KIND OF DIRECT OR INDIRECT DAMAGE OR LOSS WHATSOEVER WHICH YOU MAY SUFFER IN CONNECTION WITH ACCESSING THIS WHITEPAPER, THE WEBSITE AT HTTPS://ARTEX.APP/ (THE WEBSITE) OR ANY OTHER WEBSITES OR MATERIALS PUBLISHED BY THE COMPANY.

Project purpose: You agree that you are acquiring Artex Token to participate in the Artex platform and to obtain services on the ecosystem thereon. The Company, the Distributor and their respective affiliates would develop and contribute to the underlying source code for the Artex platform. The Company is acting solely as an arms’ length third party in relation to the Artex Token distribution, and not in the capacity as a financial advisor or fiduciary of any person with regard to the distribution of Artex Token.

Nature of the Whitepaper: The Whitepaper and the Website are intended for general informational purposes only and do not constitute a prospectus, an offer document, an offer of securities, a solicitation for investment, or any offer to sell any product, item, or asset (whether digital or otherwise). The information herein may not be exhaustive and does not imply any element of a contractual relationship. There is no assurance as to the accuracy or completeness of such information and no representation, warranty or undertaking is or purported to be provided as to the accuracy or completeness of such information. Where the Whitepaper or the Website includes information that has been obtained from third party sources, the Company, the Distributor, their respective affiliates and/or the Artex team have not independently verified the accuracy or completeness of such information. Further, you acknowledge that circumstances may change and that the Whitepaper or the Website may become outdated as a result; and neither the Company nor the Distributor is under any obligation to update or correct this document in connection therewith.

Token Documentation: Nothing in the Whitepaper or the Website constitutes any offer by the Company, the Distributor, or the Artex team to sell any Artex Token (as defined herein) nor shall it or any part of it nor the fact of its presentation form the basis of, or be relied upon in connection with, any contract or investment decision. Nothing contained in the Whitepaper or the Website is or may be relied upon as a promise, representation or undertaking as to the future performance of the Artex platform. The agreement between the Distributor (or any third party) and you, in relation to any distribution or transfer of Artex Token, is to be governed only by the separate terms and conditions of such agreement.

The information set out in the Whitepaper and the Website is for community discussion only and is not legally binding. No person is bound to enter into any contract or binding legal commitment in relation to the acquisition of Artex Token, and no digital asset or other form of payment is to be accepted on the basis of the Whitepaper or the Website. The agreement for distribution of Artex Token and/or continued holding of Artex Token shall be governed by a separate set of Terms and Conditions or Token Distribution Agreement (as the case may be) setting out the terms of such distribution and/or continued holding of Artex Token (the Terms and Conditions), which shall be separately provided to you or made available on the Website. The Terms and Conditions must be read together with the Whitepaper. In the event of any inconsistencies between the Terms and Conditions and the Whitepaper or the Website, the Terms and Conditions shall prevail.

Deemed Representations and Warranties: By accessing the Whitepaper or the Website (or any part thereof), you shall be deemed to represent and warrant to the Company, the Distributor, their respective affiliates, and the Artex team as follows:

(a) in any decision to acquire any Artex Token, you have shall not rely on any statement set out in the Whitepaper or the Website;

(b) you will and shall at your own expense ensure compliance with all laws, regulatory requirements and restrictions applicable to you (as the case may be);

(c) you acknowledge, understand and agree that Artex Token may have no value, there is no guarantee or representation of value or liquidity for Artex Token, and Artex Token is not an investment product nor is it intended for any speculative investment whatsoever;

(d) none of the Company, the Distributor, their respective affiliates, and/or the Artex team members shall be responsible for or liable for the value of Artex Token, the transferability and/or liquidity of Artex Token and/or the availability of any market for Artex Token through third parties or otherwise; and

(e) you acknowledge, understand and agree that you are not eligible to participate in the distribution of Artex Token if you are a citizen, national, resident (tax or otherwise), domiciliary and/or green card holder of a geographic area or country (i) where it is likely that the distribution of Artex Token would be construed as the sale of a security (howsoever named), financial service or investment product and/or (ii) where participation in token distributions is prohibited by applicable law, decree, regulation, treaty, or administrative act (including without limitation the United States of America and the People's Republic of China); and to this effect you agree to provide all such identity verification document when requested in order for the relevant checks to be carried out.

The Company, the Distributor and the Artex team do not and do not purport to make, and hereby disclaims, all representations, warranties or undertaking to any entity or person (including without limitation warranties as to the accuracy, completeness, timeliness, or reliability of the contents of the Whitepaper or the Website, or any other materials published by the Company or the Distributor). To the maximum extent permitted by law, the Company, the Distributor, their respective affiliates and service providers shall not be liable for any indirect, special, incidental, consequential or other losses of any kind, in tort, contract or otherwise (including, without limitation, any liability arising from default or negligence on the part of any of them, or any loss of revenue, income or profits, and loss of use or data) arising from the use of the Whitepaper or the Website, or any other materials published, or its contents (including without limitation any errors or omissions) or otherwise arising in connection with the same. Prospective acquirors of Artex Token should carefully consider and evaluate all risks and uncertainties (including financial and legal risks and uncertainties) associated with the distribution of Artex Token, the Company, the Distributor and the Artex team.

Informational purposes only: The information set out herein is only conceptual, and describes the future development goals for the Artex platform to be developed. In particular, the project roadmap in the Whitepaper is being shared in order to outline some of the plans of the Artex team, and is provided solely for INFORMATIONAL PURPOSES and does not constitute any binding commitment. Please do not rely on this information in deciding whether to participate in the token distribution because ultimately, the development, release, and timing of any products, features or functionality remains at the sole discretion of the Company, the Distributor or their respective affiliates, and is subject to change. Further, the Whitepaper or the Website may be amended or replaced from time to time. There are no obligations to update the Whitepaper or the Website, or to provide recipients with access to any information beyond what is provided herein.

Regulatory approval: No regulatory authority has examined or approved, whether formally or informally, any of the information set out in the Whitepaper or the Website. No such action or assurance has been or will be taken under the laws, regulatory requirements or rules of any jurisdiction. The publication, distribution or dissemination of the Whitepaper or the Website does not imply that the applicable laws, regulatory requirements or rules have been complied with.

Cautionary Note on forward-looking statements: All statements contained herein, statements made in press releases or in any place accessible by the public and oral statements that may be made by the Company, the Distributor and/or the Artex team, may constitute forward-looking statements (including statements regarding the intent, belief or current expectations with respect to market conditions, business strategy and plans, financial condition, specific provisions and risk management practices). You are cautioned not to place undue reliance on these forward-looking statements given that these statements involve known and unknown risks, uncertainties and other factors that may cause the actual future results to be materially different from that described by such forward-looking statements, and no independent third party has reviewed the reasonableness of any such statements or assumptions. These forward-looking statements are applicable only as of the date indicated in the Whitepaper, and the Company, the Distributor as well as the Artex team expressly disclaim any responsibility (whether express or implied) to release any revisions to these forward-looking statements to reflect events after such date.

References to companies and platforms: The use of any company and/or platform names or trademarks herein (save for those which relate to the Company, the Distributor or their respective affiliates) does not imply any affiliation with, or endorsement by, any third party. References in the Whitepaper or the Website to specific companies and platforms are for illustrative purposes only.

English language: The Whitepaper and the Website may be translated into a language other than English for reference purpose only and in the event of conflict or ambiguity between the English language version and translated versions of the Whitepaper or the Website, the English language versions shall prevail. You acknowledge that you have read and understood the English language version of the Whitepaper and the Website.

No Distribution: No part of the Whitepaper or the Website is to be copied, reproduced, distributed or disseminated in any way without the prior written consent of the Company or the Distributor. By attending any presentation on this Whitepaper or by accepting any hard or soft copy of the Whitepaper, you agree to be bound by the foregoing limitations.

Risks

You acknowledge and agree that there are numerous risks associated with acquiring Artex Token, holding Artex Token, and using Artex Token for participation in the Artex platform. In the worst scenario, this could lead to the loss of all or part of Artex Token held. IF YOU DECIDE TO ACQUIRE ARTEX TOKEN OR PARTICIPATE IN THE ARTEX PLATFORM, YOU EXPRESSLY ACKNOWLEDGE, ACCEPT AND ASSUME THE FOLLOWING RISKS:

- Uncertain Regulations and Enforcement Actions

The regulatory status of the Artex platform, Artex Token and distributed ledger technology is unclear or unsettled in many jurisdictions. The regulation of digital assets has become a primary target of regulation in all major countries in the world. It is impossible to predict how, when or whether regulatory agencies may apply existing regulations or create new regulations with respect to such technology and its applications, including Artex Token and/or the Artex platform. Regulatory actions could negatively impact Artex Token and/or the Artex platform in various ways. The Company, the Distributor (or their respective affiliates) may cease operations in a jurisdiction in the event that regulatory actions, or changes to law or regulation, make it illegal to operate in such jurisdiction, or commercially undesirable to obtain the necessary regulatory approval(s) to operate in such jurisdiction. After consulting with a wide range of legal advisors to mitigate the legal risks as much as possible, the Company and Distributor have worked with the specialist blockchain department at Bayfront Law LLC and obtained a legal opinion on the token distribution, and will be conducting business in accordance with the prevailing market practice.

- Inadequate disclosure of information

As at the date hereof, the Artex platform is still under development and its design concepts, consensus mechanisms, algorithms, codes, and other technical details and parameters may be constantly and frequently updated and changed. Although this whitepaper contains the most current information relating to the Artex platform, it is not absolutely complete and may still be adjusted and updated by the Artex team from time to time. The Artex team has no ability and obligation to keep holders of Artex Token informed of every detail (including development progress and expected milestones) regarding the project to develop the Artex platform, hence insufficient information disclosure is inevitable and reasonable.

- Competitors

Various types of decentralised applications and networks are emerging at a rapid rate, and the industry is increasingly competitive. It is possible that alternative networks could be established that utilise the same or similar code and protocol underlying Artex Token and/or the Artex platform and attempt to re-create similar facilities. The Artex platform may be required to compete with these alternative networks, which could negatively impact Artex Token and/or the Artex platform.

- Failure to develop

There is the risk that the development of the Artex platform will not be executed or implemented as planned, for a variety of reasons, including without limitation the event of a decline in the prices of any digital asset, virtual currency or Artex Token, unforeseen technical difficulties, and shortage of development funds for activities.

- Security weaknesses

Hackers or other malicious groups or organisations may attempt to interfere with Artex Token and/or the Artex platform in a variety of ways, including, but not limited to, malware attacks, denial of service attacks, consensus-based attacks, Sybil attacks, smurfing and spoofing. Furthermore, there is a risk that a third party or a member of the Company, the Distributor or their respective affiliates may intentionally or unintentionally introduce weaknesses into the core infrastructure of Artex Token and/or the Artex platform, which could negatively affect Artex Token and/or the Artex platform.

Further, the future of cryptography and security innovations are highly unpredictable and advances in cryptography, or technical advances (including without limitation development of quantum computing), could present unknown risks to Artex Token and/or the Artex platform by rendering ineffective the cryptographic consensus mechanism that underpins that blockchain protocol.

- Other risks

In addition, the potential risks briefly mentioned above are not exhaustive and there are other risks (as more particularly set out in the Terms and Conditions) associated with your participation in the Artex platform, as well as acquisition of, holding and use of Artex Token, including those that the Company or the Distributor cannot anticipate. Such risks may further materialise as unanticipated variations or combinations of the aforementioned risks. You should conduct full due diligence on the Company, the Distributor, their respective affiliates, and the Artex team, as well as understand the overall framework, mission and vision for the Artex platform prior to participating in the same and/or acquiring Artex Token.

Limitation of Liability

Artex accepts no liability for any direct or indirect loss or damage, whether or not foreseeable, including any indirect, consequential or other damages arising from your use of the Artex Platform, the Services, or the websites or any information contained in it, to the maximum extent permissible by law.

You use the Artex Platform, the Services, and the websites at your own risk.

We accept no liability for any disruption or non-availability of the Artex Platform or the websites or the Services or any damage or interruptions resulting from external causes including, but not limited to, communications network failure, power failure, host equipment failure, IPS (internet service provider) equipment failure, traffic congestion on the Internet or on the website or a combination thereof, computer viruses, spyware, scareware or other malware that may affect your computer or other equipment, natural events, acts of war, legal restrictions and censorship.

Artex accepts no liability in respect of any loss or damage resulting from any use of the Artex Platform, the websites or the Services, or any content posted by third parties on or through the websites, or any interactions between users of the Artex Platform, the websites or the Services, whether online or offline.

Indemnity

You agree to indemnify Artex, our affiliates and service providers, and each of our and their respective officers, directors, agents, employees and representatives, in respect of any costs (including legal fees and any fines, fees or penalties imposed by any regulatory or governmental authority) that have been incurred in connection with any claims, demands or damages arising out of or related to your breach and/or our enforcement of these Terms of Use (and any other agreements entered with you) or your violation of any law, rule, regulation or rights of any third party.

No Waiver

The failure of Artex to exercise or enforce any right, remedy or provision of these Terms of Use does not constitute a waiver of such right, remedy or provision and shall not be construed as a waiver.

Severability

If any provision of these Terms of Use (or other agreement) is found to be unlawful, invalid or otherwise unenforceable, that provision is deemed to be severed from the Terms of Use (or other agreement) and shall not affect the validity and enforceability of the remaining Terms of Use (or other agreement) which shall continue in full force and effect.

Governing Law and Dispute Resolution

These Terms of Use shall be governed by and construed and interpreted in accordance with the laws of Switzerland. All disputes arising out of or in connection with this Terms shall be finally settled by arbitration under the International Chamber of Commerce (ICC) by a panel of three (3) arbitrators appointed in accordance with the said Rules. The venue shall be Geneva (Switzerland). The language of the proceedings shall be English. The arbitral award shall be final and binding upon the Parties.