Terms and Policies
By using the Leondrino Exchange Platform (located at the domains www.leondrino.exchange, www.leondrino.com, www.leondrino.de and including the subdomains wallet.leondrino.com, trade.leondrino.com, exchange.leondrino.com), the LEXnetwork, the LEX API, and any associated LEX-hosted websites or mobile applications (collectively the “LEX Website”), and any of the services provided to you by LEX (together with the LEX Website, the “LEX Services”) or signing up to use a Leondrino Account (hereinafter “Account”), you (“you, your, or yourself”) are agreeing to accept and comply with the terms and conditions of use stated below (hereinafter “Terms”). You should read the entire Terms carefully before you use the LEX Website or any of the LEX Services.
As used in these Terms, “Leondrino Exchange” and “LEX” refer to the company Leondrino Exchange Inc. and its licensee for Germany, the Leondra GmbH (LEONDRA), including, without limitation, its owners, directors, investors, employees or other related parties. Depending upon the context, “Leondrino Exchange” and “LEX” may also refer to the services, products, website, content or other materials (collectively, “LEX Services”) provided by Leondrino Exchange through the LEX Website.
The Leondrino Exchange plans for the LEX Services to include the issuance and administration of private branded currencies (hereinafter “Leondrinos” or “Leondrino Currencies”) and associated services like trading Leondrinos and Leondrino Vouchers respectively.
The planned LEX Services will allow buyers (hereinafter “Buyers”) and sellers (hereinafter “Sellers”), to buy and sell Leondrinos and earn Bonus Leondrino Vouchers. For now, the LEX Services allow all registered users of the LEX Services (hereinafter “Members”) to:
- Create a Leondrino Wallet
- Hold Leondrino Vouchers
- Activate Leondrino Vouchers
- Use Leondrino Vouchers for purchasing goods (if applicable)
- Trade Leondrino Vouchers (up to a defined limit of trade volume per year and/or total amount per person)
The planned future LEX Services will include the following (after Leondrino Exchange is a licensed issuer and administrator of Leondrino Currencies)
- Convert Leondrino Vouchers into Leondrino Currencies
- Hold Leondrino
- Buy Leondrino
- Sell Leondrino
- Transfer Leondrino to other Members or other users of Leondrino outside LEX Website
- Use Leondrino for purchasing goods
- Trade Leondrino
- Access and use the extended LEX Eco-System beyond Leondrino Wallet and Leondrino Exchange
Depending on your country of residence, you may not be able to use all the functions of the LEX Website. It is your responsibility to follow those rules and laws in your country of residence and/or country from which you access the LEX Services. As long as you agree to and comply with these Terms, Leondrino Exchange grants to you a personal, non-exclusive, non-transferable, non-sublicensable and limited right to enter and use LEX Services.
If you do not accept the Terms and Conditions outlined herein, do not access the LEX Website and do not use the LEX Services.
By accessing or using the LEX Services associated to Leondrino Vouchers, you expressly represent and warrant:
(1) You have accepted these Terms;
(2) You are at least 14 years of age and have the full capacity accept these Terms and enter into a transaction involving Leondrino Vouchers; and
(3) You will not use the LEX Services if the laws of your country prohibit you from doing so in accordance with these Terms.
By signing up to use the Leondrino Account and accessing or using the LEX Services associated to Leondrino Currencies, you expressly represent and warrant that:
(4) You have accepted these Terms;
(5) You are at least 18 years of age and have the full capacity to accept these Terms and enter into a transaction involving Leondrino Currencies;
(6) You are not located in, under the control of, or a national or resident of any country to which the United States has embargoed goods or services;
(7) You are not identified as a “Specially Designated National”;
(8) You are not placed on the Commerce Department’s “Denied Persons” List; and
(9) You will not use the LEX Services if the laws of your country prohibit you from doing so in accordance with these Terms.
(3) Leondrino Digital Currency Services for Members
The following “Leondrino Digital Currency Services” which are a subset of the LEX Services are provided to members by Leondra GmbH – the licensee of Leondrino Exchange operating in Germany under German legislation:
- A hosted Leondrino Wallet enabling you to store, track and manage your balances of Leondrino, currently only Leondrino of token classes E, D and C (“Leondrino”), and one or more hosted Leondrino wallets enabling you to store, track, manage and transfer external digital currencies, currently only Ethereum (“External Digital Currency“);
- A service to purchase tokens, based on the Leondrino Lifecycle and its policies, during initial token or coin offerings from companies (“Leondrino Primary Market Service”);
- A Restricted Exchange Service enabling you to obtain prices for your purchases and sales of Leondrino (“Leondrino Restricted Exchange“);
- A Restricted Leondrino Conversion Service enabling you to buy and sell Leondrino of token class C (which are eligible for restricted trade) for External Digital Currencies via Leondra GmbH (“Leondrino Restricted Conversion Services“).
(4) Limitations for Leondrino Digital Currency Services
Currently, Leondrino Digital Currency Services are only offered for Leondrino token classes E, D and C by Leondra GmbH as German licensee of the Leondrino Exchange (also called Leondrino Germany). The general description of the Leondrino token classes and its restrictions regarding frequency and volume of transactions can be found in the FAQ section on the LEX Website.
Leondrino Restricted Exchange and Leondrino Restricted Conversion Services are only offered for Token Class C Leondrino of companies that completed their Leondrino ICO and that are eligible for this service. One major criterion for the eligibility is that the associated company is able to offer products & services in exchange for its Leondrino.
Leondra GmbH is in preparation to apply for a multilateral trading facility and its associated licenses in Germany. As long as Leondra GmbH is not licensed, it applies necessary restrictions regarding transfer, trade, volume and frequency of Leondrino transactions.
(5) Risks of Using LEX Services
Initially Leondrino Vouchers are distributed without any obligation of Leondrino Exchange to take them back for compensation. As soon as the trading of Leondrino Vouchers and/or Leondrino Currencies is permitted for selected brands, a price will be built based on supply and demand.
The trading of goods and products, real or virtual, as well as virtual currencies, involves significant risk.
Prices can and do fluctuate on any given day. Due to such price fluctuations, you may increase or lose value in your assets at any given moment. Any currency – virtual or not – may be subject to large swings in value and may even become nearly worthless when the corporation owning the related brand of the currency ceases to exist. There is an inherent risk that losses will occur as a result of buying, selling or trading anything on a market.
Leondrino Currency trading also has special risks not generally shared with official currencies or goods or commodities in a market. Unlike most currencies, which are backed by governments or other legal entities, or by commodities such as gold or silver, Leondrino Currencies are a unique kind of virtual currency, whose value is related to the current and future business of the associated brand – and trust. Leondrino Exchange through its organizational unit Autonomia can take corrective action to meet the goals of the monetary policy of a Leondrino currency by influencing the supply of the currency. The monetary policy actions will follow rules to meet the goal of keeping the price volatility within in a limited bandwidth. The goals will be defined by the monetary policy of a Leondrino Currency and will be made transparent to the market.
Leondrino Exchange will not issue Leondrino Currencies and will not allow trading of Leondrino Currencies until it has received a license to issue and administer Leondrino Currencies as a virtual currency from the New York State Department of Financial Services. Regardless of whether a Member is a resident or present in New York State, each Member must abide by these Terms. Before Leondrino Vouchers can be converted to Leondrino Currencies, the Leondrino Exchange will provide Members with the terms and conditions governing such conversions.
Trading of Leondrino Currencies may be susceptible to irrational (or rational) bubbles or loss of confidence, which could materially reduce demand relative to supply. For example, demand for a Leondrino Currency may significantly decrease relative to supply because of unexpected changes imposed by a government action, civil unrest, Acts of God, the creation of superior competing alternative currencies, or a deflationary or inflationary spiral. Confidence might also be eroded because of technical problems: if money and or Leondrino Currencies and or Leondrino Vouchers are lost or stolen, or if hackers or governments are able to prevent any transactions from settling.
There may be additional risks that we have not foreseen or identified in our Terms.
You should carefully assess whether your financial situation and tolerance for risk is suitable for buying, selling or trading Leondrino Currencies and consult with your own financial, accounting, tax and legal advisers.
We use our banking providers to receive client funds and make payments denominated in government-issued currencies. Currently, our banking providers DO NOT transfer Leondrino Currencies, exchange Leondrino Currencies, or provide any services in connection with Leondrino Currencies.
(6) Copyright and Limited Right of Use
Unless otherwise specified, all Materials on the LEX Website and used for LEX Services are the property of Leondrino Exchange and are protected by copyright, trademark and other applicable laws. You may view, print and/or download a copy of the Materials from the LEX Website on any single computer solely for your personal, informational, non-commercial use, provided you keep intact all copyright and other proprietary notices.
The trademarks, service marks and logos of Leondrino Exchange and others used on the LEX Website and in the LEX Services (“Trademarks”) are the property of Leondrino Exchange or others. The software, text, images, graphics, data, prices, trades, charts, graphs, video and audio used on the LEX Website and in the LEX Services belong to Leondrino Exchange. The Trademarks and Material should not be copied, reproduced, modified, republished, uploaded, posted, transmitted, scraped, collected or distributed in any form or by any means, whether manual or automated. The use of any such Materials on any other Site or networked computer environment for any other purpose is strictly prohibited; any such unauthorized use may also violate applicable laws, including, without limitation, copyright and trademark laws and applicable communications regulations and statutes and may result in criminal or civil penalties.
(7) Sign-Up and Maintaining Your Account
The LEX Services are for your personal use only. Currently, the LEX Services are restricted to non-commercial usage.
We are vigilant in maintaining the security of the LEX Website and the LEX Services. By signing up with us, you agree to provide Leondrino Exchange with current, accurate, and complete information about yourself as prompted by the registration process, and to keep such information updated. You further agree that you will not use any Account other than your own, or access the Account of any other Member at any time, or assist others in obtaining unauthorized access.
The creation or use of Accounts without obtaining the prior express permission from Leondrino Exchange will result in the immediate suspension of all said Accounts, as well as all pending purchase/sale offers. Any attempt to do so or to assist others (Members or otherwise), or the distribution of instructions, software or tools for that purpose, will result in the Accounts of such Members being terminated. Termination is not the exclusive remedy for such a violation, and Leondrino Exchange may elect to take further action against you.
You also are responsible for maintaining the confidentiality of your Account information, including your password, safeguarding your own Leondrino Vouchers and Leondrino Currencies, and for all activity including Transactions that are posted to your Account. If there is suspicious activity related to your Account, we may, but are not obligated, to request additional information from you, including authenticating documents, and to freeze any transactions pending our review. You are obligated to comply with these security requests, or accept termination of your Account. You are required to notify Leondrino Exchange immediately of any unauthorized use of your Account or password, or any other breach of security by email addressed to email@example.com. Any Member who violates these rules may be terminated, and thereafter held liable for losses incurred by Leondrino Exchange or any user of the LEX Services.
Leondrino Exchange similarly reserves the right to freeze Leondrino accounts. The individual freeze is intended primarily for complying with regulatory requirements, which may vary from one jurisdiction to another. These features allow Leondrino Exchange to better operate in compliance of laws and regulations.
Finally, you agree that you will not use the Service to conduct criminal activity of any sort, including but not limited to, money laundering, illegal gambling operations, terrorist financing, or malicious hacking.
(8) Termination and Escheatment of Unverified Accounts
You may terminate this agreement with Leondrino Exchange, and close your Account at any time, following settlement of any pending transactions.
You also agree that Leondrino Exchange may, by giving notice, in its sole discretion terminate your access to the LEX Website and to your Account, including without limitation, our right to: limit, suspend or terminate the service and Members’ Accounts, prohibit access to the LEX Website and its content, LEX Services and tools, delay or remove hosted content, and take technical and legal steps to keep Members off the LEX Services, if we think that they are creating problems or possible legal liabilities, infringing the intellectual property rights of third parties, or acting inconsistently with the letter or spirit of these Terms.
(1) Additionally, we may, in appropriate circumstances and at our discretion, suspend or terminate Accounts of Members for any reason, including without limitation:
(a) attempts to gain unauthorized access to the LEX Website or another Member’s account or providing assistance to others’ attempting to do so;
(b) overcoming software security features limiting use of or protecting any content;
(c) usage of the LEX Services to perform illegal activities such as money laundering, illegal gambling operations, financing terrorism, or other criminal activities;
(d) violations of these Terms;
(e) failure to pay or fraudulent payment for Transactions;
(f) unexpected operational difficulties; or
(g) upon the request of law enforcement or other government agencies, if deemed to be legitimate and compelling by Leondrino Exchange, acting in its sole discretion.
(2) In connection with your use of the LEX Services, and your interactions with other users, and third parties you will not:
(a) Violate or assist any party in violating any law, statute, ordinance, regulation or any rule of any self-regulatory or similar organization of which you are or are required to be a member (for example, those laws, rules, or regulations governing financial services, controlled substances, unlawful gambling or consumer protections);
(b) Partake in a transaction which involves the proceeds of any unlawful activity;
(c) Defraud or attempt to defraud Leondrino Exchange or other LEX Services users;
(d) Infringe upon Leondrino Exchange’s or any third party’s copyright, patent, trademark, or intellectual property rights;
(e) Provide false, inaccurate or misleading information;
(f) Take any action that imposes an unreasonable or disproportionately large load on our infrastructure, or detrimentally interfere with, intercept, or expropriate any system, data, or information;
(g) Interfere with another individual’s or entity’s access to or use of any of the LEX Services;
(h) Defame, abuse, harass, stalk, threaten or otherwise violate or infringe the legal rights (such as, but not limited to, rights of privacy, publicity and intellectual property) of others;
(i) Publish, distribute or disseminate any unlawful material or information;
(j) Transmit or upload any material to the LEX Website that contains viruses, Trojan horses, worms, or any other harmful or deleterious programs;
(k) Harvest or otherwise collect information from the LEX Website about others, including without limitation email addresses, without proper consent;
(l) Act as a payment intermediary or aggregator or otherwise resell any of the LEX Services, unless expressly authorized by Leondrino Exchange in writing;
(m) Transfer any rights granted to you under this Agreement;
(n) Use the Leondrino Account information of another party to access or use the LEX Website, except in the case of specific third parties like partners or merchants and/or applications which are specifically authorized by a user to access such user’s Leondrino Account and information;
(o) Otherwise attempt to gain unauthorized access to the LEX Website, other Leondrino Accounts, computer systems or networks connected to the LEX Website, through password mining or any other means; or
(p) Engage in transactions involving items that infringe or violate any copyright, trademark, right of publicity or privacy or any other proprietary right under the law.
We reserve the right at all times to monitor, review, retain and/or disclose any information as necessary to satisfy any applicable law, regulation, legal process or governmental request.
We expressly reserve the right to cancel and/or terminate Accounts that have not been verified by the Client despite our good faith efforts to contact you seeking such verification (“Unverified Accounts”). This right includes that all Unverified Accounts which have been inactive for a period of 36 months or more without holding Leondrino Currencies or cash might be terminated.
All Unverified Accounts which have been inactive for a period of 36 months or more holding cash or Leondrino Currencies will be liquidated to cash and the remaining balance net of any applicable fees and charges will be escheated to New York State by being transferred to the New York State Office of the Comptroller pursuant to New York Abandoned Property Law.
The suspension of an Account shall not affect the payment of the commissions due for past Transactions. Upon termination, Members shall communicate a valid bank account to allow for the transfer of any currencies credited to their account. Said bank account shall be held by the Member. Leondrino may be transferred to a valid bank account only after conversion into a government-issued currency (“fiat currency”). Leondrino Exchange shall transfer the currencies as soon as possible following the Member’s request in the timeframes specified by Leondrino Exchange.
Leondrino Exchange will send to you the credit balance of your Account, however in circumstances a number of intermediaries may be involved in an international payment and these or the beneficiary bank may deduct charges. We will use reasonable efforts to ensure that such charges are disclosed to you prior to sending your payment, however where they cannot be avoided, you acknowledge that these charges cannot always be calculated in advance, and that you agree to be responsible for such charges.
(10) Consent to Electronic Records
By using the LEX Services, you agree that Leondrino Exchange may provide you with any notices or other communications about your Leondrino Account and the LEX Services electronically:
(1) via email (in each case to the address that you provide), SMS message, or telephone call (in each case to the phone number that you provide), or
(2) by posting to the LEX Website. For notices made by email, the date of receipt will be deemed the date on which such notice is transmitted. If you do not wish to receive notices or other communications electronically, we will be unable to support your Leondrino Account and your Leondrino Account will be cancelled in accordance with Section 8.
Email messages sent over the Internet are not secure and Leondrino Exchange is not responsible for any damages incurred by the result of sending email messages over the Internet. We suggest sending email in encrypted formats; you are welcome to send PGP encrypted emails to us. The instructions and keys to do so are available upon request.
(12) Computer Viruses
We shall not bear any liability, whatsoever, for any damage or interruptions caused by any computer viruses, spyware, scareware, Trojan horses, worms or other malware that may affect your computer or other equipment, or any phishing, spoofing or other attack. We advise the regular use of a reputable and readily available virus screening and prevention software. You should also be aware that SMS and email services are vulnerable to spoofing and phishing attacks and should use care in reviewing messages purporting to originate from Leondrino Exchange. Always log into your Leondrino Account through the LEX Website to review any transactions or required actions if you have any uncertainty regarding the authenticity of any communication or notice.
(13) Availability of Services
All services are provided “as is” and “as available” basis without representation or warranty of any kind, either express or implied. We do not represent that the LEX Services will be available 100% of the time to meet your needs. We will strive to provide you with the LEX Services as soon as possible but there are no guarantees that access will not be interrupted, or that there will be no delays, failures, errors, omissions or loss of transmitted information.
We will use reasonable endeavors to ensure that the LEX Website can normally be accessed by you in accordance with these Terms. We may suspend use of the LEX Website for maintenance and will make reasonable efforts to give you notice. You acknowledge that this may not be possible in an emergency.
(14) APIs and Widgets
We may provide access to certain parties to access specific data and information through our Application Programming Interface (hereinafter “LEX API”) or through widgets. We also may provide widgets for your use to put our data on your site. You are free to use these in their original unmodified and un-altered state. Any person or entity who uses our LEX API must comply with these Terms and/or any other conditions as Leondrino Exchange may put into place in its sole discretion from time to time. The LEX API is owned by Leondrino Exchange and is licensed to LEX API users on a non-exclusive, non-sublicensable basis.
(15) External Websites
Leondrino Exchange makes no representations whatsoever about any outside or third-party website which you may access through the LEX Services. Occasionally, the LEX Website may provide references or links to other websites (“External Websites”). We do not control these External Websites of third parties or any of the content contained therein. You agree that we are in no way responsible or liable for External Websites referenced or linked from the LEX Website, including, but not limited to, website content, policies, failures, promotions, products, opinions, advice, statements, prices, activities and advertisements, services or actions and/or any damages, losses, failures or problems caused by, related to, or arising from those sites. You shall bear all risks associated with the use of such content.
In the event of a complaint, please set out in writing the basis of your complaint, how you would like us to resolve the complaint and any other information you believe to be relevant. We will acknowledge your complaint within 48 hours of its receipt if you email us your complaint at firstname.lastname@example.org.
The responsible staff member of Leondrino Exchange (hereinafter “Complaint Officer”) will consider your complaint. The Complaint Officer will consider your complaint without prejudice based on the information you have provided, and any information gathered by Leondrino Exchange. Within four weeks of our receipt of your complaint, the Complaint Officer will address your complaint by sending you an e-mail (“Resolution Notice”) in which the Complaint Officer will:
(1) offer to resolve your complaint in the way your requested;
(2) make a determination rejecting your complaint and set out the reasons for the rejection; or
(3) offer to resolve your complaint with an alternative solution.
Upon receipt of the Resolution Notice, you will have 20 business days to accept or reject the offer or determination, which you must do by following the instructions set out in the Resolution Notice. Failure to respond to a Resolution Notice will be deemed to be a withdrawal of the complaint and an acceptance that we have no liability to you regarding the subject matter of the complaint. If you are late in responding to the Resolution Notice, Leondrino Exchange may treat your response as if it has been submitted on time.
In addition, you are reminded that once Leondrino Exchange has become licensed with the New York State Department of Financial Services, you may bring your compliant to the Department of Financial Services by sending it to the Department’s address set forth below, the Department’s website below or by calling the telephone number for the Department’s Consumer Hotline:
New York State Department of Financial Services
Consumer Assistance Unit
One Commerce Plaza
Albany, NY 12257
Consumer Hotline (800) 342-3736 (Monday through Friday, 8:30 AM to 4:30 PM ET)
If you believe anything on the LEX Website infringes upon any copyright, which you own or control, you may file a notification of such infringement with our Designated Agent as set forth below.
Name of Designated Agent: Peter Reuschel
Full Address: Leondrino Exchange Inc. 1177 Avenue of the Americas, Floor 7, New York, NY 10036, USA
Please see 17 U.S.C. §512(c) (3) for the requirements of a proper notification. You should note that if you knowingly misrepresent in your notification that the material or activity is infringing, you will be liable for any damages, including costs and attorneys’ fees, incurred by us or the alleged infringer as the result of our relying upon such misrepresentation in removing or disabling access to the material or activity claimed to be infringing.
(17) Financial, Investment or Other Professional Advice
For the avoidance of doubt, we do not provide any financial, investment or other professional advice in connection with the LEX Services contemplated by these Terms. We may provide information on the price, range, volatility of Leondrino Currencies and events that may have affected the price of any one or more currencies. Such information is offered “AS IS” and although obtained from sources deemed to be ordinarily reliable, we do not warrant its accuracy or relevance. Moreover, such information is not intended to serve as investment advice and should not be construed as such. Any decision to purchase or sell Leondrino is your decision and we will not be liable for any loss suffered. You should consult your own financial advisers (including accountants, lawyers, tax and investment advisers) prior to buying or selling Leondrino Currencies regarding market, operational or other risks associated with purchasing, selling or holding Leondrino Currencies as well as the tax, accounting or legal consequences of purchasing, selling or holding Leondrino Currencies.
(18) Financial Regulation
Our future LEX Services for Leondrino Currencies consist of the issuance and administration of Leondrino Currencies. The LEX Services will include facilitating, buying, selling and trading of Leondrino Currencies and their use to purchase goods and services. Currently, we are in the process of preparing to apply be a licensed issuer and administrator of Leondrino Currencies as virtual currencies pursuant to the New York State Department of Financial Services regulating virtual currencies. 23 NYCRR Part 200.
(19) Disclosures to Legal Authorities and Authorized Financial Institutions
We may share your Personal Information with law enforcement, data protection authorities, government officials, and other authorities when:
- Required by law;
- Compelled by subpoena, court order, or other legal procedure;
- We believe that the disclosure is necessary to prevent physical harm or financial loss;
- Disclosure is necessary to report suspected illegal activity (to file a Suspicious Activity Report); or
We also may share your Personal Information with other financial institutions as authorized under Section 314(b) of the US Patriot Act, and with tax authorities, including the US Internal Revenue Service, pursuant to the Foreign Account Tax Compliance Act (“FATCA”), to the extent that this statute may be determined to apply to Leondrino Exchange.
(20) International Transfers of Personal Information
We store and process your Personal Information in data centers around the world, wherever Leondrino Exchange facilities or service providers are located. As such, we may transfer your Personal Information outside of the US and the European Economic Area (“EEA”). Such transfers are undertaken in accordance with our legal and regulatory obligations.
These Terms shall be governed and construed in accordance with New York law without regard to New York law’s choice of law principles.
(22) Limitation of Liability
To the extent permitted by law, Leondrino Exchange will not be held liable for any damages, loss of profit, loss of revenue, loss of business, loss of opportunity, loss of data, indirect or consequential loss unless the loss suffered arises from negligence or willful deceit or fraud. Nothing in these terms excludes or limits the liability of either party for fraud, death or personal injury caused by its negligence, breach of terms implied by operation of law, or any other liability which may not by law be limited or excluded.
Subject to the foregoing, Leondrino Exchange’s aggregate liability in respect of claims based on events arising out of or in connection with any single Member’s use of the LEX Website and/or LEX Services, whether in contract or tort (including negligence) or otherwise, shall in no circumstances exceed the greater of either
(a) the total amount held on Account for the Member making a claim less any amount of Commission that may be due and payable in respect of such Account; or
(b) the total of the Transaction Price or Prices of the Transaction or Transactions that are the subject of the claim less any amount of Commission that may be due and payable in respect of such Transaction(s),
each in the applicable currency.
To the full extent permitted by applicable law, you hereby agree to indemnify Leondrino Exchange, and its partners against any action, liability, cost, claim, loss, damage, proceeding or expense suffered or incurred if caused directly or indirectly by your use of LEX Website, your use of the LEX Services, or from your violation of these Terms.
If we are unable to perform the LEX Services outlined in the Terms due to factors beyond our control including but not limited to an event of Force Majeure, change of law or change in sanctions policy we will not have any liability to you with respect to the LEX Services provided under this agreement and for a time period coincident with the event, which may be permanent.
(25) Modifications to the LEX Services
Leondrino Exchange reserves the right to modify or discontinue, temporarily or permanently, the LEX Services or any features or portions thereof without prior notice. You agree that Leondrino Exchange will not be liable for any modification, suspension or discontinuance of the LEX Services or any part thereof.
(26) Modification of Terms
Leondrino Exchange reserves the right to change, add or remove sections of these Terms, at any time, in an exercise of its sole discretion. You will be notified of any changes in advance through your Account. Upon such notification, it is your responsibility to review the amended Terms. Your continued use of the Site following the posting of a notice of changes to the Terms signifies that you accept and agree to the changes, and that all subsequent transactions by you will be subject to the amended Terms.
Buyer(s). Member(s) that are submitting a bid to buy a Leondrino Currency through the LEX Services.
Commission. Refers to the fee which is payable to Leondrino Exchange on each Transaction, such as a Leondrino Purchase Transaction.
Leondrino or Leondrino Currency. The virtual private branded currency further described on the LEX Website.
LEXnetwork. The network of Leondrino Exchange including, without limitation, its own platforms and services as well as the platforms and services of connected Exchanges, Banks, Market Makers, intermediaries and Trusted Third Parties that offer goods or services in exchange for Leondrino Currencies for real-time Point-of-Sale transactions.
LEX Services. Any of the services provided to you by LEX, functional rules and market managed by Leondrino Exchange Inc. to permit Sellers and Buyers to perform Leondrino Purchase Transactions and other Transactions (together with the LEX Website, the “LEX Services”)
LEX Website. The Leondrino Platform located at the domains www.leondrino.exchange, www.leondrino.com, www.leondrino.de and including the subdomains wallet.leondrino.com, trade.leondrino.com, exchange.leondrino.com), the LEXnetwork, the LEX API, and any associated LEX-hosted websites or mobile applications (collectively the “LEX Website”)
Member(s). Refers to any holder of a LEX User Account.
Personal Information. Information that identifies an individual, such as name, address, e-mail address, trading information, and banking details. “Personal Information” does not include anonymized and/or aggregated data that does not identify a specific user.
Price. The “price per coin” for which Members are willing to purchase or sell a Leondrino Currency, using the Service in a Leondrino Purchase Transaction. The Price may be expressed in any of the currencies deposited by Members in their Account and supported by the Service. See our Site for a full list of currencies.
Seller(s). Member(s) that are submitting an offer to sell a Leondrino Currency through the LEX Services.
Transaction. Includes the following:
- The agreement between a Buyer and a Seller to exchange a Leondrino Currency through the LEX Services for a government-issued currency or another virtual currency at a commonly agreed rate (“Leondrino Purchase Transaction”);
- The conversion of a government-issued currency or another virtual currency deposited by a Member in the Member’s Account into Leondrino Currency (“Conversion Transaction”);
- The transfer of a Leondrino Currency between Members (“Leondrino Transfer Transaction”);
- The transfer of government-issued currencies or another virtual currency among Members (“Currency Transfer Transaction”); and
- The purchase of ancillary products (“Purchase Transactions”).
Leondrino Exchange may not offer all of these types of transactions at this time or in all places.
Transaction Price. The total price paid by the Buyer in respect of each Transaction performed through the LEX Services.
(28) Severability Clause
If any provision of these Terms is deemed unlawful, void or for any reason unenforceable, then that provision shall be deemed severable from these Terms and will not affect the validity and enforceability of any remaining provisions.
(29) CONTACT US
If you have any questions relating to these Terms, your rights and obligations arising from these Terms and/or your use of the Site and the Service, your Account, or any other matter, please contact Leondrino Exchange Support by emailing email@example.com.
(30) English Version Is Legally Binding
Notwithstanding any other provision of this Agreement, any translation of this Agreement is provided for your convenience. The meanings of terms, conditions, and representations herein are subject to definitions and interpretations in the English language. Any translation provided may not accurately represent the information in the original English.
Terms as of November 2018
investors, employees, affiliates or other related parties. Depending upon the context, “LEX” may also refer to the services, products, website, content or other materials (collectively, “LEX Services”) provided by Leondrino Exchange Inc.
- The types of Personal Information we collect and how it may be used;
- How and why we may disclose your Personal Information to third parties;
- The transfer of your Personal Information within and outside of the United States (US) and the European Economic Area (“EEA”);
- Your right to access, correct, update, and delete your Personal Information;
- The security measures we use to protect and prevent the loss, misuse, or alteration of Personal Information; and
- LEX’s retention of your Personal Information.
COLLECTION AND USE OF PERSONAL INFORMATION
1. PERSONAL INFORMATION WE COLLECT
We collect the Personal Information you provide directly to us when you open a Leondrino Account, perform any transactions on the Leondrino Exchange Platform (located at the domains www.leondrino.exchange, www.leondrino.com, www.leondrino.eu, www.leondrino.de and including the subdomains wallet.leondrino.com, trade.leondrino.com, exchange.leondrino.com), or use other LEX Services. This may include:
- Contact information, such as name, home address, telephone number and email address.
- Account information, such as username and password.
- Financial information, such as bank account numbers, bank statement, and trading information.
- Identity verification information, such as images of your government issued ID, passport, national ID card, or driving
license. Note: US residents may be asked to provide their social security numbers.
- Residence verification information, such as Utility bill details or similar information.
We also automatically collect certain computer, device, and browsing information when you access the LEX website or use LEX Services. This information is aggregated to provide statistical data about our users’ browsing actions and patterns, and does not personally identify individuals. This information may include:
- Computer or mobile device information, including IP address, operating system, browser type.
- Website usage information.
We use third-party service provider(s), to assist us in better understanding the use of our Site. Our service provider(s)will place cookies on the hard drive of your computer and will receive information that we select that will educate us on such things as how visitors navigate around our site, what products are browsed, and general Transaction information. Our service provider(s) analyses this information and provides us with aggregate reports. The information and analysis providedby our service provider(s) will be used to assist us in better understanding our visitors’ interests in our Site and how to better serve those interests. The information collected by our service provider(s) may be linked to and combined with information that we collect about you while you are using the Platform. Our service provider(s) is/are contractually restricted from using the information they receive from our Site other than to assist us.
3. HOW WE USE YOUR PERSONAL INFORMATION
We may use your Personal Information to:
- Open your account and process your Leondrino transactions. We will process your Personal Information only for the purpose(s)
for which it has been provided to us.
- Verify your identity in accordance with applicable laws and regulations as well as address other law enforcement needs
as more fully described in the General Terms and Conditions. We also may share your information with other financial
institutions as authorized under Section 314(b) of the US Patriot Act, and with tax authorities, including the US Internal
Revenue Service, pursuant to the Foreign Account Tax Compliance Act (“FATCA”), to the extent that this statute may be
determined to apply to LEX
- Personalize your LEX Services experience.
- Analyze LEX website usage, and improve our website and website offerings.
- Help us respond to your customer service requests and support needs.
- Contact you about LEX Services. The email address you provide may be used to communicate information and updates related
to your use of the LEX Services. We may also occasionally communicate company news, updates, promotions, and related information
relating to similar products and services provided by LEX.
- Administer a contest, promotion, survey or other site features as will be more explained on the website.
If you wish to stop receiving marketing communications from us, please contact us at firstname.lastname@example.org to opt-out.
DISCLOSING AND TRANSFERRING PERSONAL INFORMATION
We may disclose your Personal Information to third parties and legal and regulatory authorities, and transfer your PersonalInformation outside the US and the EEA, as described below.
1. DISCLOSURES TO THIRD PARTIES
2. DISCLOSURES TO LEGAL AUTHORITIES
We may share your Personal Information with law enforcement, data protection authorities, government officials, and otherauthorities when
- Compelled by subpoena, court order, or other legal procedure.
- We believe that the disclosure is necessary to prevent physical harm or financial loss.
- Disclosure is necessary to report suspected illegal activity.
3. INTERNATIONAL TRANSFERS OF PERSONAL INFORMATION
We may store and process your Personal Information in data centers around the world, wherever LEX facilities or service providers are located. As such, we may transfer your Personal Information outside of the US and the EEA. Such transfers are undertaken in accordance with our legal and regulatory obligations.
Occasionally, the LEX website may provide references or links to other websites (“External Websites”). We do not control these External Websites third party sites or any of the content contained therein. You agree that we are in no way responsible or liable for External Websites referenced or linked from the LEX website, including, but not limited to, website content,policies, failures, promotions, products, services or actions and/or any damages, losses, failures or problems caused by,related to, or arising from those sites.
External Websites have separate and independent privacy policies. We encourage you to review the policies, rules, terms, and regulations of each site that you visit. We seek to protect the integrity of our site and welcome any feedback about External Website information provided on the LEX website.
ACCESS RIGHTS TO PERSONAL INFORMATION
Our goal is to keep your data accurate and up-to-date. You may update your data by logging onto to your account and clicking on the “Manage Profile” link. When finished making any updates or corrections to your personal data, you should click “Save” to record the changes you have made. If you have any problems, please contact us at email@example.com.
SECURITY OF PERSONAL INFORMATION
We use a variety of security measures to ensure the confidentiality of your Personal Information and to protect your Personal Information from loss, theft, unauthorized access, misuse, alteration or destruction. These security measures include, but are not limited to:
- Password protected directories and databases.
- Secure Sockets Layered (SSL) technology to ensure that your information is fully encrypted and sent across the Internet
All financially sensitive and/or credit information is transmitted via SSL technology and encrypted in our database. Only authorized LEX personnel are permitted access to your Personal Information, and these personnel are required to treat the information as highly confidential. The security measures will be reviewed regularly in light of new and relevant legal and technical developments.
RETENTION OF PERSONAL INFORMATION
Unfortunately, if you are under 14, you cannot use any of the LEX Services. So we do not knowingly solicit or collect information from anyone under 14. If we become aware that a child under the age of 14 has provided us with personal information, we will delete it immediately.
GENERAL DATA PRIVACY REGULATION
1. OBLIGATORY INFORMATION REQUIREMENTS
LEONDRA supports the data privacy principles of the European GDPR. According to Art. 13 and Art. 14 GDPR you have the following
rights once your personal data is processed by LEONDRA:
- Right of access (see Art. 15 GDPR)
- Right to rectification (see Art. 16 GDPR)
- Right to erasure (see Art. 17 GDPR)
- Right to restriction of processing (see Art. 18 GDPR)
- Right on notification (see Art. 19 GDPR)
- Right to data portability (see Art. 20 GDPR)
- Right to object (see Art. 21 GDPR)
- Right to withdrawal (see Art. 6 (1) lit. a GDPR or Art. 9 (2) lit. a GDPR). The legitimacy of past data processing procedures
With respect to personal data, LEONDRA abdicates from automated individual decision-making, including profiling, according to Art. 22 (1) and (4) GDPR. Therefore, influencing automated individual decision-making, including profiling, is not possible or rather not required.
2. RESPONSIBLE SUPERVISORY AUTHORITY
If you regard that the data privacy of your data is infringed, you have the right to lodge a complaint with a supervisory authority (see Art. 77 GDPR):
Berliner Beauftragte für Datenschutz und Informationsfreiheit
Tel.: +49 30 13889-0
Fax: +49 30 2155050
3. RESPONSIBLE PERSON / CONTROLLER
4. LEGITIMACY OF DATA PROCESSING PROCEDURES
5. ABILITY TO EXERCISE RIGHTS
6. TRANSFER OF PERSONAL DATA
LEONDRA – in the scope of the LEX Website and LEX Services – does not transfer personal data to third parties abroad.
7. TECHNICAL AND ORGANIZATIONAL MEASURES
8. DATA RETENTION
Coinciding with the launch of Leondrino Wallet, Leondrino Exchange would like to inform its clients about the implementation of measures according to the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (hereinafter AML/CFT Act). In order to support government in the fight against financing of terrorism and money laundering, the Act requires all financial institutions and related service providers to collect, verify and store identity data of persons and entities seeking to establish an account or Leondrino Wallet. Correspondingly, based on risk assessment, Leondrino Exchange has developed an internal Anti-Money Laundering Program and Counter Terrorism Financing Program (hereinafter AML Program to be aligned with the goals of the AML/CFT Act. These include:
- to detect and deter Anti-Money Laundering and Counter Terrorism Financing ;
- to maintain and promote the reputation of the financial system by implementing the recommendations of the Financial Action Task Force (FATF), where appropriate in the context; and
- to contribute to public confidence in the financial system.
By signing up for a Leondrino Trading Account (Leondrino Wallet including trading entitlements), you accept the following terms and conditions:
- You warrant that you comply with all applicable laws and regulations to combat money laundering, including, but not limited to the AML / CTF Act and the associated, currently effective rules and regulations;
- You have no knowledge of and no reason to suspect that:
- the money used to finance the deposit on your account was originated or will be originated and thus was connected and will be connected with money laundering or other activities regarded as illegal within the framework of applicable laws and regulations or other as prohibited activities under an international convention or agreement (“illegal activities”)
- the proceeds out of your investment in the depot will be used to finance illegal activities; and
- You agree to immediately provide us with all the information that we need to adhere to all applicable laws and regulations to combat money laundering.
In accordance with the AML Program, Leondrino Exchange will, upon the account opening and on an ongoing basis, exercise due care in accordance with each client’s risk levels.
This means: in accordance with the Privacy Act of 1988, Leondrino Exchange will request a specified set of background information to confirm a client’s identity; store this identity-related information as well as methods and results of the identity check; inform clients that we will request information and reconcile with government-provided lists of terror suspects.
The requested information shall include:
- the full name of the customer; and
- the date of birth if it is a natural person; and
- if the person who opened the account is not the customer himself, the relationship of the person with the customer; and
- the address or registered office of the customer; and
- the company name or the customer’s registration number;
- the expected level and the type of activity to be undertaken;
- the expected source of funds, which are intended to be used in the business relationship; and
- details about employment and assets or sources of income.
To verify the above information, Leondrino Exchange will request the following documentation from prospective clients:
- passport or identity card or similar document that:
- includes name, date of birth and a photograph of the person to whom the document is issued, and
- is issued by a national government, the United Nations or an agency of the United Nations.
- copy of the certificate of incorporation or equivalent national document;
- copy of the bylaws or equivalent national document;
- certificate of good standing or other proof of the registered business address of the company;
- a copy of the consent of board to open an account and to give corresponding authorization to the account-holding person;
- proof of identity of the directors, in the event that he / she makes contact with Leondrino Exchange on behalf of customers (according to the above provisions to ensure the identification of individuals).
Leondrino Exchange might request additional documentation and background information. In some instances, copies of requested documents may suffice, provided they have been officially certified and appraised.
Ban of Sham Tansactions
We hereby inform customers of Leondrino Exchange regarding prohibited transactions, which are commonly called “sham transactions”. This prohibition is imposed according to the AML / CFT Act in order to identify, to defuse and manage potential risks in relation to money laundering and terrorist financing for Leondrino Exchange.
This provision requires that all orders are made in good faith for the purpose of access to and making profits from movements of quotas in financial instruments. No Customer may open up directly or indirectly opposite positions (ie buy and sell orders) in the same financial instrument, where the intention of the customer does not lie in the fact to make profit from speculative activities, but to avoid an honest, the market risk exposed market position.
It is also inadmissible, to open opposite positions in the same financial instrument for various eWallets or Leondrino trading accounts with shared beneficial ownership (this excludes accounts with less than 100% public ownership a) as well as eWallets or Leondrino trading accounts of customers who stand in any relationship to one another, if this is the intention of avoiding market risk or price competition. Such activities are also considered a violation of the sham transaction ban. The fact that there is a delay between the opening of opposite positions, does not exempt from this ban, if the performance entails a sham transaction result. The mere delay of opening a buy and sell order does not exclude, depending on the terms of the order, that orders are entirely or partially traded against each other. To the extent as orders are traded against each other, their outcome can be regarded as an illegal sham transaction, regardless of the fact that the orders were opened at different times.
In all cases where one of the above transactions is recognized, Leondrino Exchange may exercise its rights pursuant to the relevant User Agreement, which the user has explicitly agreed to as part of the account opening; including, but not limited to: cancellation or adjustment of the respective transactions of users.
The contents of the Leondrino Platform are regularly maintained and updated.
However there is no guarantee for the correctness, the completeness or the availability of the available information within our services.
The brands and their brand managers are exclusivly responsible for their content and shop items.
We do not take responsibity for external contents which are referenced by or linked to the Leondrino Exchange Platform. The providers of any linked sites are entirely responsible for the content of their sites.
We use third party service provider(s), to assist us in better understanding the use of our Platform. Our service provider(s) will place cookies on the hard drive of your computer and will receive information that we select that will educate us on such things as how visitors navigate around our Platform, what products are browsed, and general Transaction information. Our service provider(s) analyses this information and provides us with aggregate reports. The information and analysis provided by our service provider(s) will be used to assist us in better understanding our visitors’ interests in our Platform and how to better serve those interests. The information collected by our service provider(s) may be linked to and combined with information that we collect about you while you are using the Platform. Our service provider(s) is/are contractually restricted from using information they receive from our Platform other than to assist us.
Your continued use of the Leondrino Exchange Platform, as well as any subsequent usage, will be interpreted as your consent to cookies being stored on your device.
The trading of goods and products, real or virtual, as well as virtual currencies involves significant risk. Prices can and do fluctuate on any given day. Due to such price fluctuations, your assets (specifically any of your holdings in Leondrino Currencies) may increase or decrease in value at any given moment. Any currency – virtual or not – may be subject to large swings in value and may even become worthless. There is an inherent risk that losses will occur as a result of buying, selling or trading anything on a market.
Leondrino Currency trading also has special risks not generally shared with official currencies or goods or commodities in a market. Unlike most currencies, which are backed by governments or other legal entities, or by commodities such as gold or silver, Leondrino is a unique kind of “virtual” currency, backed by the current and future business of brands you trust. Leondrino Exchange will have a role similar to that of a central bank, which is responsible for multiple Leondrino Currencies and that can take corrective measure to protect the value of each Leondrino Currency in a crisis or issue more currency according to the individual monetary policy that is agreed upon with each respective brand.
Leondrino Currency trading is probably susceptible to irrational (or rational) bubbles or loss of confidence, which could collapse demand relative to supply. For example, confidence might collapse in Leondrino because of unexpected changes imposed by the respective brand’s business development, a government crackdown, the creation of superior competing alternative currencies, or a deflationary or inflationary spiral. Confidence might also collapse because of technical problems: if the system is compromised, if money is lost or stolen, or if hackers or governments are able to prevent any transactions from settling.
You should carefully assess whether your financial situation and tolerance for risk is suitable for buying, selling or trading Leondrino Currencies.
We use our banking providers in order to receive client moneys and making payments. Our banking providers DO NOT transfer Leondrino Currencies, exchange Leondrino Currencies, or provide any services in connection with Leondrino Currencies.