BATBET TERMS OF USE
1. General Provisions
1.1 Description of the Platform and Its Objectives
BatBet is an innovative decentralized platform for betting on esports events, participating in lotteries, trading in-game items through a P2P marketplace, and using NFTs to gain privileges and access to exclusive features. Our mission is to create a safe, transparent, and inclusive betting ecosystem where users can not only place bets on esports events but also engage in other activities such as opening cases, participating in lotteries, and trading in-game items. We ensure low fees, maximum security, and transparency by using the Solana blockchain, which eliminates the need for intermediaries and guarantees fast transactions.
Key Objectives of the Project:
Betting on Esports Events: Supporting betting on popular esports games like Dota 2, CS 2, League of Legends, Valorant, and others.
Lotteries and Prizes: Regular lotteries with the chance to win in-game items, tokens, and exclusive NFTs.
P2P Trading: Trading in-game items, skins, and other assets between users on the platform.
Using NFTs: Privileged NFTs that provide access to unique opportunities and advantages on the platform.
The platform also allows users to become part of a decentralized autonomous organization (DAO), where they can participate in votes on important project development and management decisions.
1.2 Introduction to the Key Terms of Use
These Terms of Use (hereinafter referred to as "Terms") govern your use of the BatBet platform (hereinafter "Platform," "we," "us"). By using our Platform, you agree to comply with all the terms, rules, and guidelines set forth in this document. It is important that you read these Terms before using the Platform to understand your rights and responsibilities.
1.2.1 General Principles:
The Platform is intended for users who wish to place bets on esports events, participate in lotteries and trade in-game items, as well as use NFTs to gain privileges and access exclusive features.
All activities on the Platform are conducted through the Solana blockchain, ensuring high levels of security, transparency, and low fees.
The Platform provides services in line with the principles of decentralization, and users can participate in the governance of the project through the DAO.
1.2.2 Project Goals:
Ensuring transparency of bets and operations through the use of blockchain technology.
Providing users access to exclusive opportunities via NFTs.
Developing decentralized project governance, allowing users to influence key decisions.
Ensuring low fees and high transaction speed for all participants.
1.2.3 Responsibilities of the Parties:
The Platform is committed to providing users with safe and convenient access to functionalities for betting, lotteries, trading in-game items, and using NFTs.
Users are committed to complying with all terms of use, not engaging in fraudulent activities, not using the Platform for illegal purposes, and providing accurate information during registration and verification.
Please note that we reserve the right to modify or update these Terms at any time, and any changes will take effect upon publication on the Platform.
2. Genesis NFT Mint Participation Terms
2.1 Definitions of NFT
Genesis NFT are exclusive digital assets that play an important role in the BatBet platform ecosystem. There are two levels of NFT:
Tier 1 NFT - provides holders with maximum privileges and access to exclusive opportunities on the platform.
Tier 2 NFT - provides access to a limited set of privileges compared to Tier 1, but still offers additional opportunities for users.
2.2 Minting Process
The Genesis NFT Mint process will consist of two stages:
Whitelist Campaign: This provides early access to a limited group of users.
Public Mint: This will be available to a wider audience.
The privileges associated with each type of NFT include improved betting conditions, access to exclusive events, and additional features on the platform.
2.3 Pricing
The cost of purchasing Genesis NFTs will vary depending on the NFT tier (Tier 1 and Tier 2). The terms of purchase and pricing will be published prior to the start of the mint event.
2.4 NFT Holder Privileges
Genesis NFT holders will receive a range of privileges, such as:
Reduced betting fees and participation in lotteries.
Access to exclusive features and privileged lotteries.
Participation in ecosystem events and promotions related to the platform.
2.5 Risks
Purchasing Genesis NFTs may involve several risks, including:
Financial risks related to potential volatility in token values.
Technical risks related to the operation of the platform and blockchain networks.
Legal risks related to changes in legislation concerning cryptocurrencies and gambling in various countries.
All participants must independently assess the risks associated with participating in the event and purchasing Genesis NFTs.
3. Token Generation Event (TGE) Terms
3.1 Description of TGE
The Token Generation Event (TGE) is a key event for the BatBet project, during which Genesis NFT holders will be able to exchange their NFTs for project tokens. The TGE will provide liquidity for the tokens and open up opportunities for users to use the received tokens for betting, participating in lotteries, trading in-game items, and other activities on the platform.
3.2 Number of Tokens per NFT
The number of BatBet tokens that will be provided to Genesis NFT holders will be distributed based on the number of NFTs sold, in equal proportions among participants, according to the overall distribution outlined in the project's tokenomics and internal documents. The token distribution between Tier 1 and Tier 2 NFT holders will be proportional to their participation in the mint event.
The exact distribution conditions will depend on the total volume of NFTs sold, and each participant will receive their share of tokens in accordance with the level of their NFT (Tier 1 or Tier 2).
3.3 Participation Conditions for TGE
The TGE will be available only to holders of Genesis NFTs who acquired their NFTs during the mint event. The process of exchanging NFTs for tokens will be carried out through the platform, and participants will be able to exchange their NFTs for BatBet tokens at a pre-established rate, which will be proportional to the number of NFTs sold.
Privileges for Genesis NFT holders will include priority access to tokens and the ability to take advantage of additional benefits provided for NFT holders, such as reduced betting fees.
4. Rights and Responsibilities of the Parties
4.1 Rights of the Platform
The BatBet platform reserves the following rights:
Modification of Terms of Use: The platform has the right to modify or update the terms of use at any time without prior notice to users. All changes will take effect immediately upon publication on the platform's website.
Suspension of Access: The platform may suspend access to a user's account if violations of the terms of use or suspicions of legal violations are identified. This includes, but is not limited to, activities related to fraud, manipulation of betting results, or using the platform for illegal activities.
KYC Verification: In exceptional cases, depending on the legislation or suspicion of illegal activity, the platform reserves the right to require users to undergo a KYC (Know Your Customer) process, which may involve providing personal information, documents, and identity verification.
4.2 Responsibilities of Users
Users are obligated to:
Agreement with the Terms: By using the platform, the user confirms their agreement to these terms and commits to adhering to them while using all services of the platform.
Responsibility for Accuracy of Information: Users are required to provide accurate and up-to-date information during registration and while using the platform. Any discrepancies or falsification of data may lead to account suspension and/or access being revoked.
Compliance with Laws: Users must comply with all laws and regulations in their country of residence. This includes adherence to laws concerning cryptocurrencies, gambling, and other relevant areas. The platform is not responsible for any violations of local laws by users.
5. Security and Data Protection
5.1 Responsibilities for Protecting Users' Personal Data
The BatBet platform is committed to protecting users' personal data in accordance with applicable security standards and data protection legislation. All personal data provided by users will be used solely for the purposes outlined in the terms of use and will not be shared with third parties without the user's consent, except as required by law. The platform takes measures to ensure the confidentiality and security of personal information, including:
Protecting data using modern encryption technologies.
Minimizing the collection of personal data and storing only necessary information.
5.2 Use of Data Encryption, Fraud Prevention
To ensure the security of user accounts, the BatBet platform implements the following measures:
Data Encryption: All data transmitted through the platform, including financial and personal information, is encrypted using modern security standards (SSL/TLS). This ensures the protection of data from interception during transmission between the user and the platform.
Fraud Prevention: The platform implements various mechanisms to prevent fraud, including monitoring suspicious transactions, anomalous user behavior, and using anti-fraud systems to block attempts to manipulate betting results or other violations.
5.3 Platform Security Policy
The BatBet platform actively works to ensure the high security of all operations and transactions, including:
Transaction Security: All financial transactions, including bets, deposits, withdrawals, and exchanges, are conducted using smart contracts on the Solana blockchain, which guarantees transparency and protection against manipulation.
Regular Audits and Testing: The platform regularly conducts security audits of its smart contracts and the system as a whole to identify and eliminate vulnerabilities. Penetration testing is also conducted to verify the reliability of the security system.
System Monitoring: The platform uses monitoring systems to track all operations on the platform in real-time, enabling prompt responses to any suspicious activities or attacks.
6. Legal Aspects
6.1 Disclaimer of Liability
The BatBet platform provides all of its services on an "as-is" basis and is not responsible for any losses or damages that may be caused to the user during the use of the platform. Specifically, the platform is not liable for:
Financial Losses: All transactions and bets on the platform are conducted at the user's risk. We do not guarantee profitability or market stability. The platform is not responsible for financial losses that may be caused by fluctuations in cryptocurrency values or changes in the market.
Changes in the Cryptocurrency Market: The value of BatBet tokens and other cryptocurrencies used on the platform is subject to high volatility. The platform is not responsible for changes in the market value of tokens, which may affect the user's funds, as well as the value of bets or other operations.
Technical Failures: The platform is not responsible for losses arising from technical failures, platform errors, hacks, or unforeseen circumstances, such as force majeure events, that may affect the functioning of the system.
6.2 Applicable Law and Jurisdiction for Dispute Resolution
These Terms of Use are governed by the laws of the Seychelles. Any disputes or disagreements arising in the course of using the platform will be resolved in accordance with the laws of the country where the project is registered.
Jurisdiction: All legal disputes related to the use of the platform will be handled in the competent court in the country of BatBet's registration.
Arbitration: In the event that a dispute cannot be resolved amicably, it will be referred to an arbitration body appointed in accordance with the laws of the country of registration.
6.3 Right to Modify the Terms of Agreement
The BatBet platform reserves the right to modify or update these Terms of Use at any time without prior notice to users. All changes will take effect as soon as they are published on the platform.
Notification of Changes: Users will be notified of any changes via their personal accounts or by email. In the case of significant changes, users will be notified in advance and will have the opportunity to decide whether to continue using the platform.
User Obligation: Users are required to regularly check the validity of the Terms of Use and other legal documents on the platform. Continuing to use the platform after changes have been made will be considered as agreement to the new terms.