By visiting or using Service you represent and warrant to Pyrrhos and agree that:
1. You are of legal age (18 years old or older) and legal competence.
2. You are not a citizen or permanent resident of the United States of America or Singapore.
3. if Customer is a company, (i) Customer is duly organized and validly existing under the applicable laws of the jurisdiction of its organization; (ii) execution and delivery of this Terms have been duly authorized by Customer; and (iii) each person executing and delivering these Terms and other transactions contemplated on behalf of Customer has been duly authorized by Customer to do so.
4. it is legal to use Service in your country of residence. You represent and warrant that by using the Service you do not violate any laws or regulations applicable to you.
Pyrrhos token (“Token”) is a digital asset created by Pyrrhos Trust Company. Token is based on the ERC20 token standard and is backed by physical gold of 99.9 percent purity. 1000 Tokens equals to 1 gram of physical gold. The physical gold is stored at a secure vault operated by Pyrrhos or by third party selected by Pyrrhos Trust Company .
Backed-By-Gold.com website enables you to obtain information on Token, purchase Token from us for decentralized cryptocurrencies and sell Token to us for decentralized cryptocurrencies. Customer can purchase/sell Token from/to Pyrrhos Trust Company at the rate stated at our Website The rates are subject to market fluctuations. Sales of over X Tokens at Backed-By-Gold.com website may result in your transaction being delayed for 72 hours.
Token can be purchased or sold at third-party exchanges. Such exchanges are not under control of Pyrrhos Trust Company, hence terms and rates (which may differ from the ones stated at Pyrrhos Trust Company website) of those exchanges will apply.
All physical gold stored in vault is fully insured, 100% of the time. No interest is paid on the gold stored in vault.
The total number of Tokens in circulation always equals the total amount of gold in vault.
By purchasing Token you are purchasing a specific amount of physical gold which will remain deposited in Pyrrhos vault. Hence you are the owner of that gold.
By selling Token to Us you are selling a specific amount of physical gold making us the owner of the gold sold.
No transaction fees apply to Token. Yearly storage fee is automatically charged from token holder wallet on daily basis. See fee schedule for more information.
Cryptocurrencies, tokens and digital assets are extremely volatile and carry high degree of risk. Price movements for cryptocurrencies, tokens and digital assets, are influenced by, among other things: changing supply-demand relationships, sentiment and news releases that often cause large price fluctuations. By using the
Services you represent and warrant that:
1. You have knowledge and experience in cryptocurrencies, tokens and digital assets.
2. You fully understand the risks associated with cryptocurrencies, tokens and digital assets.
Further, you accept that you bear sole liability for all losses resulting from your use of cryptocurrencies, tokens (including the Pyrrhos token) and digital assets.
Pyrrhos does not provide any investment advice or render any opinion to the Customer as to whether the purchase of Token is prudent, timely or suitable. Nothing in the Backed-By-Gold.com website shall be construed a financial advise to you. You are solely responsible for determining whether your Token purchase, sale or transaction is appropriate based on your personal objectives, financial circumstances and risk tolerance. You must make your own investigations regarding the accuracy, reliability and completion of information provided and consult your professional adviser regarding your specific situation, including your financial situation, objectives and goals.
Üyrrhos will use reasonable efforts to ensure that the Service is available at all times, except for reasonable periods of time for maintenance.
Customer is solely responsible for payment of any and all taxes owed as a result of using Service. Customer shall indemnify and hold PYR harmless for any and all taxes, penalties, or interest claimed by any agency of government for payments made to Customer pursuant to this Terms.
Your permission to use the Site is conditioned upon the following use, posting and conduct restrictions:
You agree that you will not under any circumstances:
use the Service is applicable laws at the country of your location do not permit You to use the Service;use the Service for any unlawful purpose or for the promotion of illegal activities;use the Servcie in a way that is detrimental to us, our customers or employees;disparage, tarnish, or otherwise harm, in our opinion, us and/or the Service;use the Service to hide proceeds of illeagal activites, or otherwise lauder illegally obtained curyptocurrency, tokens or digital assets;distribute any part or parts of the Service without our explicit written permission (we grant the operators of public search engines permission to use spiders to copy materials from the site for the sole purpose of creating publicly-available searchable indices but retain the right to revoke this permission at any time on a general or specific basis);harass, abuse or harm another person or group;interfere or attempt to interfere with the proper functioning of the Service;make any automated use of the Service or the related systems, or take any action that we deem to impose or to potentially impose an unreasonable or disproportionately large load on our servers or network infrastructure;bypass any robot exclusion headers or other measures we take to restrict access to the Service, or use any software, technology, or device to scrape, spider, or crawl the Service or harvest or manipulate data;use the Service as part of any effort to compete with us;circumvent, disable or otherwise interfere with any security-related features of the Service or features that prevent or restrict use or copying of content, or enforce limitations on use of the Service or the content accessible via the Service.
Exercise extreme caution and double check all information your are entering when purchasing/selling Token at Backed-By-Gold.com website, any cryptocurrency exchange or when transferring Token to another account. By definition, cryptocurrency, token or digital asset transactions are final. Once the transaction has been carried out it cannot be reversed. You agree not to hold us liable for your monetary loss resulting from such error.
Unless otherwise indicated, Backed-By-Gold.com website is our proprietary property and all source code, databases, functionality, software, website designs, audio, video, text, photographs, and graphics on the Backed-By-Gold.com website (collectively, the “Content”) and the trademarks, logos contained therein (the “Marks”) are owned or controlled by us or licensed to us, and are protected by copyright and trademark laws and various other intellectual property rights. The Content and the Marks are provided on the Site “AS IS” for your information and personal use only. Except as expressly provided in these Terms of Service, no part of the Site and no Content or Marks may be copied, reproduced, aggregated, republished, uploaded, posted, publicly displayed, encoded, translated, transmitted, distributed, sold, licensed, or otherwise exploited for any commercial purpose whatsoever, without our express prior written permission. Provided that you are eligible to use the Backed-By-Gold.com website, you are granted a limited license to access and use the Backed-By-Gold.com website and to download or print a copy of any portion of the Content to which you have properly gained access solely for your personal, non-commercial use. We reserve all rights not expressly granted to you in and to the Backed-By-Gold.com website, the Content and the Marks.
LINKS TO OTHER SITES
Links to non- Backed-By-Gold.com websites are provided solely as pointers to websites that may be useful to Pyrrhos Customers. Pyrrhos has no control over the content on such websites. If You choose to visit to a website not controlled by Pyrrhos, We make no warranties, either expressed or implied, concerning the content of such site, including the accuracy, completeness, reliability, or suitability thereof for any particular purpose, nor does Pyrrhos warrant that that such site or content is devoid of viruses or other contamination. Pyrrhos does not guarantee the authenticity of documents on the Internet. Links to non- Backed-By-Gold.com sites do not imply any endorsement of or responsibility for the opinions, ideas, products, information, or services offered at such sites, or any representation regarding the content at such sites. You agree and acknowledge that we do not endorse the services offered on third-party websites and you shall hold us harmless from any harm caused by such website. Additionally, you shall hold us harmless from any losses sustained by you or harm caused to you relating to or resulting in any way from any third-party website.
Pyrrhos may terminate you access to this Website at any time in the event of breach of these Terms. This does not include GOLD token, as it cannot be blocked, terminated or otherwise restricted.
DISCLAIMER OF LIABILITY
Pyrrhos Trust Company makes no warranty that the functionality of Backed-By-Gold.com website will be uninterrupted. Furthermore, we do not guarantee that the information provided on Backed-By-Gold.com website is correct, complete or up-to-date.
Pyrrhos will not be held liable for confirmation of any transaction on any blockchain network as we hold no control over any blockchain network.
Pyrrhos Trust Company will not be liable for any consequential, incidental, special, direct, or indirect damages (including but not limited to lost profits, losses or damages that result from use or loss of use of the Pyrrhos services and third party content, inconvenience or delay). This is true even if Pyrrhos has been advised of thepossibility of such damages or losses. Pyrrhos will not be liable to you or anyone else (whether under contract, tort (including negligence) or otherwise) for any loss resulting from a cause over which Pyrrhos does not have direct control. This includes, but not limited to, failure of electronic or mechanical equipment orcommunications lines (including telephone, cable and internet), script error, severe or extraordinary weather (including flood, earthquake, or other act of god), fire, war, insurrection, terrorist act, riot, labor dispute and other labor problems, accident, emergency or action of government. Pyrrhos will not be liable for lossesresulting from incorrect information entered when when purchasing, selling or transferring Token.
You agree to defend, indemnify, and hold us harmless, including our subsidiaries, affiliates, and all of our respective officers, agents, partners, and employees, from and against any loss, damage, liability, claim, or demand, including reasonable attorneys fees and expenses, made by any third party due to or arising out of: (1) use of the Service; (2) breach of these Terms; (3) any breach of your representations and warranties set forth in these Terms; (4) your violation of the rights of a third party, including but not limited to intellectual property rights; or (5) any overt harmful act toward any other user of the Backed-By-Gold.com website. Notwithstanding the foregoing, we reserve the right, at your expense, to assume the exclusive defence and control of any matter for which you are required to indemnify us, and you agree to cooperate, at your expense, with our defence of such claims. We will use reasonable efforts to notify you of any such claim, action, or proceeding which is subject to this indemnification upon becoming aware of it.
CHANGES AND MODIFICATIONS
We reserve the right, in our sole discretion, to make changes or modifications to these Terms of Service at any time and for any reason. We will alert you about any changes by updating the “Last updated” date of these Terms of Service, and you waive any right to receive specific notice of each such change. It is your responsibility to periodically review these Terms of Service to stay informed of updates. You will be subject to, and will be deemed to have been made aware of and to have accepted, the changes in any revised Terms of Service by your continued use of the Backed-By-Gold.com website after the date such revised Terms of Service are posted.
If you have any questions relating to these Terms, please contact us using contact information available at Backed-By-Gold.com website.