Last updated: November 1, 2021
These Grand Time Exchange Program Terms (“Terms”) constitute a legally binding agreement between the users of Grand Time’s Platform (“You”, “User”) and Grand Time Group LTD, a company incorporated under the laws of Seychelles (“We”, “Us”).
These Terms apply to Exchange Program on our https://app.grandtime.org/ website (“Platform”) and describe the terms under which you may take participation in Grand Time Exchange Program.
If you want to participate in the Grand Time Exchange Program, you have to agree to be bound by the terms contained in these Terms. You cannot participate in Grand Time Exchange Program if you do not agree with these Terms.
EXCHANGE PROGRAM TERMS
Grand Time Exchange Program allows You to exchange your Grand tokens for Ethereum during the Grand Token Launchpad (“Launchpad”) that occurred on Grand Time Platform as described below in these Terms.
If before the start of the Launchpad you earned Grand Tokens on the Platform, then from the moment the Launchpad starts you will be able to sell a certain amount of your Grand tokens for ETH.
The total amount of Grand tokens that could be sold by Users during the Launchpad: 500 000 000 Grand tokens.
Launchpad is divided into several phases (rounds). Each round will have a pre-default limit of Grand tokens that may be exchanged by all Users and will be closed upon receiving this threshold. If you missed the exchange opportunity in the previous round, you can wait for the opening of the next round to exchange your tokens.
You may find all the relevant information about the Launchpad and the relevant round of the Launchpad in the Exchange program section of the Platform.
The following sale restrictions apply for Users during each round of the Launchpad:
- The minimum sale amount for one round is Fifty Thousand (50 000) Grand tokens;
- The maximum sale amount for one round is One Hundred Thousand (100 000) Grand tokens.
Exchange of Grand tokens
To make an exchange, on the Platform on the Exchange program section, you shall specify the number of Grand tokens that you want to exchange for ETH and specify your ETH withdrawal address.
Who may participate?
You must be a registered user of the Platform, who earned the Grand tokens on the Platform before the start of the Launchpad, to participate in the Exchange Program.
Calculation of the exchange amount
On the Platform, the Exchange program section, you may automatically calculate with our calculator how much ETH you can get for a certain number of Grand tokens. To do this, in the “Calculate” window write the number of Grand tokens that you want to exchange for ETH. The calculation result shows the number of US dollars in ETH that you can receive.
The US dollars and ETH token amounts in the calculator are calculated in real-time based on the phase and market prices at the time of calculation and displayed to you for information purposes only. The actual reward is calculated in real-time only upon the end of each round, when our smart contract sells the tokens of all Users who participated in the round. Therefore, an actual reward may differ from the amount displayed to You in our reward calculator.
Withdrawal of ETH
As soon as the respective round of the Launchpad is completed and your exchanged tokens are sold, you will see a confirmation in the transaction History block on the Platform with the amount of ETH you have earned for the sale of Your tokens.
The ETH you earned as a result of exchange may be withdrawn to Your Ethereum Address that was specified by You on the Platform. You have two ways to withdraw your received ETH:
- Withdraw immediately at your own expense and pay the 0.008 ETH token transfer fee;
- Wait for a free Batch transfer. The Batch transfer occurs automatically when the Platform will receive 1000 withdrawn requests from the Users. Please, note that there is no specific schedule for the Batch Transfers and their occurrence depends only on the User’s activity and their withdrawal requests. Batch transfers provide You with the ability to withdraw Your ETH without any transfer commission. After the request for withdrawal through batch transfer, You will receive a number in the queue for withdrawal and may track your place in this queue on the Platform.
You acknowledge and agree that Your Ethereum Address for withdrawal support ETH tokens and that it cannot be changed later for security reasons.
You shall be solely responsible for the accuracy of the Ethereum Address that you provide to the Platform. Entering an address that does not support Ethereum or an invalid address will result in the permanent loss of your withdrawn ETH. We will not provide you with any refund of ETH that was withdrawn on the wrong or invalid address provided by You.
COMPLIANCE WITH LAW
By accepting these Terms and participating in Exchange Program, You agree to comply with all applicable national, international, state, and local laws, ordinances, and regulations in connection with Your participation in the Exchange Program. Nothing herein shall constitute an employment, joint venture, agency, or partnership relationship between you and Grand Time Group LTD.
THE EXCHANGE PROGRAM AND ANY ETH YOU MAY RECEIVE ARE PROVIDED “AS IS,” WITHOUT WARRANTY OF ANY KIND. WITHOUT LIMITING THE FOREGOING, WE EXPLICITLY DISCLAIM ANY IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, VALUE, QUIET ENJOYMENT AND NON-INFRINGEMENT, AND ANY WARRANTIES ARISING OUT OF YOUR PARTICIPATION IN THE EXCHANGE PROGRAM. WE MAKE NO WARRANTY THAT THE EXCHANGE PROGRAM OR ANY PART OF SUCH EXCHANGE PROGRAM, INCLUDING WITHOUT LIMITATION THE ETH, WILL MEET YOUR REQUIREMENTS OR BE AVAILABLE ON AN UNINTERRUPTED, SECURE, OR ERROR-FREE BASIS. WE MAKE NO WARRANTY REGARDING THE QUALITY, ACCURACY, TIMELINESS, TRUTHFULNESS, COMPLETENESS OR RELIABILITY OF ANY INFORMATION OR MATERIALS OFFERED. YOU ASSUME ALL RISK AND LIABILITY FOR THE RESULTS OBTAINED BY THE USE OF ANY ETH OR GRAND TOKENS AND REGARDLESS OF ANY ORAL OR WRITTEN STATEMENTS MADE BY THE GRAND TIME GROUP LTD, BY WAY OF TECHNICAL ADVICE OR OTHERWISE, RELATED TO THE ETH OR GRAND TOKENS.
CHANGES TO THESE TERMS
While we run this program in good faith, Grand Time reserves the right to make any changes to the Terms without prior notice. We may make such changes in view of changing market conditions, security or risk of fraud or any other reason.