Airdrop Terms and Conditions
Airdrop Terms and Conditions
THRUSTER TOKEN AIRDROP
TERMS & CONDITIONS
Last Revised on Oct, 2024
BY PARTICIPATING IN THE AIRDROP, INCLUDING BUT NOT LIMITED TO BY ENTERING A WALLET (AS DEFINED BELOW) PURSUANT TO THE TERMS AND PROCESSES DESCRIBED HEREIN, PARTICIPANT ACKNOWLEDGES THAT THEY HAVE READ, UNDERSTOOD, AND AGREED TO THESE AIRDROP TERMS & CONDITIONS IN THEIR ENTIRETY. THE PARTICIPANT IS RESPONSIBLE FOR MAKING ITS OWN DECISION IN RESPECT OF ITS PARTICIPATION IN THE AIRDROP AND ANY RECEIPT OF TOKENS. ANY PARTICIPATION IN THE AIRDROP IS SOLELY AT THE PARTICIPANT’S OWN RISK AND IT IS THE PARTICIPANT’S SOLE RESPONSIBILITY TO SEEK APPROPRIATE PROFESSIONAL, LEGAL, TAX, AND OTHER ADVICE IN RESPECT OF THE AIRDROP AND ANY RECEIPT OF THE TOKENS PRIOR TO PARTICIPATING IN THE AIRDROP AND PRIOR TO RECEIVING ANY TOKENS.
BY PARTICIPATING IN THE AIRDROP, THE PARTICIPANT EXPRESSLY ACKNOWLEDGES AND ASSUMES ALL RISKS RELATED THERETO, INCLUDING (WITHOUT LIMITATION) THE RISKS SET OUT BELOW. IN NO EVENT SHALL THRUSTER OR ANY THRUSTER PERSON BE HELD LIABLE IN CONNECTION WITH OR FOR ANY CLAIMS, LOSSES, DAMAGES, OR OTHER LIABILITIES, WHETHER IN CONTRACT, TORT, OR OTHERWISE, ARISING OUT OF OR IN CONNECTION WITH THE AIRDROP OR THE RECEIPT OF ANY TOKENS.
THE ORGANIZATION DOES NOT TAKE ANY RESPONSIBILITY FOR THE PARTICIPATION BY ANY PARTICIPANT IN THE AIRDROP. THE ORGANIZATION DOES NOT PROVIDE ANY RECOMMENDATION OR ADVICE IN RESPECT OF THE AIRDROP OR THE TOKENS. EACH PARTICIPANT PARTICIPATES IN THE AIRDROP AT ITS OWN RISK AND RECEIVES TOKENS AT ITS OWN RISK.
INTRODUCTION
Welcome to the Thruster airdrop!
These Token Airdrop Terms & Conditions (“Airdrop Terms”) govern the participation in and receipt of tokens (“THRUST” or “Tokens”) through the airdrop program (“Airdrop”) organized by Thruster Foundation Company (collectively, “Organization”, “we” or “us”). By participating in the Airdrop, you (“Participant”) agree to be bound by these Airdrop Terms. These Airdrop Terms are supplemental to, and incorporate by reference, our general Terms of Service available at https://foundation.thruster.finance/terms-of-service. Defined terms used but not defined herein have the meaning set forth in the Terms of Service. The Airdrop, and your participation in it, is a Service as defined under the Terms of Service.
These Airdrop Terms govern your ability to use our Services in order to participate in the Airdrop. Please read these Airdrop Terms carefully, as they include important information about your legal rights. Please also read the Terms of Service carefully. By participating in the Airdrop, you are agreeing to these Airdrop Terms and the Terms of Service. If you do not understand or agree to these Airdrop Terms and the Terms of Service, please do not participate in the Airdrop.
SECTION 17 OF THE Terms of Service CONTAINS AN ARBITRATION CLAUSE AND CLASS ACTION WAIVER. PLEASE REVIEW SUCH CLAUSES CAREFULLY BECAUSE THEY AFFECT YOUR RIGHTS. BY AGREEING TO THESE AIRDROP TERMS, YOU AGREE TO RESOLVE ALL DISPUTES RELATED TO THE AIRDROP THROUGH BINDING INDIVIDUAL ARBITRATION AND TO WAIVE YOUR RIGHT TO PARTICIPATE IN CLASS ACTIONS, CLASS ARBITRATIONS, OR REPRESENTATIVE ACTIONS, AS SET FORTH IN THE GENERAL TERMS. YOU HAVE THE RIGHT TO OPT-OUT OF THE ARBITRATION CLAUSE AND THE CLASS ACTION WAIVER AS EXPLAINED IN SECTION 17 OF THE GENERAL TERMS.
You represent and warrant that all information provided during the Airdrop process is true, accurate, and complete.
You agree and acknowledge that (a) solely you are responsible and liable for all taxes due in connection with your participation in the Airdrop; and (b) you should consult a tax advisor with respect to the tax treatment of Airdrop THRUST tokens in your jurisdiction.
You agree and acknowledge that you are responsible for complying with all applicable laws of the jurisdiction in which you reside or in which you are participating in the Airdrop and claiming Airdrop THRUST tokens.
You agree that you are not (i) a Prohibited Person (as defined in the Terms of Service); (ii) directly or indirectly acting on behalf of a Prohibited Person; and (iii) located in or accessing the Services from a Prohibited Jurisdiction (as defined below). You agree that you will not use a virtual private network (“VPN”) or similar tool to circumvent any geo-blocking and/or other restrictions that we have implemented in connection with the Airdrop. Any such deliberate circumvention, or attempted circumvention, of our controls may permanently disqualify you from participation in the Airdrop, as determined in our discretion.
You agree and acknowledge that your participation in the Airdrop does not violate any applicable laws, including without limitation applicable economic and trade sanctions and export control laws and regulations, such as those administered and enforced by the EU, OFSI, OFAC, the U.S. Department of State, the U.S. Department of Commerce, the UN Security Council, and other relevant authorities.
You agree and acknowledge that the Thruster Foundation reserves the right to require additional information from you and to enter, use, or share such information into or with a Screening Service Provider (as defined below), and its systems, tools, or functionalities, as the Organization deems appropriate in its sole discretion, including to reduce the risks of money laundering, terrorist financing, sanctions violations, or other potentially illicit activity, or as otherwise necessary to address laws and regulations that may be relevant to the Airdrop or the Tokens. You agree to provide complete and accurate information in response to any such requests. You agree and acknowledge that the Organization is not responsible and cannot be held liable for any losses, expenses, or delays resulting from inaccurate or incomplete information, and you agree to assume full responsibility for any and all risks associated therewith.
You agree and acknowledge that your participation in the Airdrop and claim of Airdrop THRUST tokens does not require or involve any form of purchase, payment, or tangible consideration from or to us, nor otherwise require or involve any acceptance of value by us from you. You agree and acknowledge that you (a) lawfully may receive Tokens for free via the Airdrop (other than gas fees or applicable taxes, if any, that may be due to third parties), (b) were not promised the Tokens or any tokens (whether via the Airdrop or otherwise); and (c) took no action in anticipation of, or in reliance on, receiving the Tokens or any tokens, the occurrence of an Airdrop, or potential participation in any Airdrop.
Your eligibility to receive Airdrop tokens or participate in the Airdrop is subject to our sole discretion. The Airdrop shall be conducted during a specified period, as determined by the Organization in its sole discretion and announced on its website, https://www.thruster.finance/. Participant must follow the instructions set forth in any Airdrop announcement and/or such other instructions as may be provided by the Organization from time to time to participate in the Airdrop. The number of Tokens allocated to each Participant will be determined by the Organization, in its sole discretion, and such allocation may vary among Participants.
You agree and acknowledge that you are not entitled to receive any Airdrop THRUST tokens and/or to participate in the Airdrop based on any documentation, commentary, calculators, metrics, and/or points systems published or otherwise made known by third parties monitoring activities on the Thruster Protocol (or any of its smart contracts) or providing third-party applications or services relating thereto (“Third-Party Publications and Services”). You have no claim to THRUST based on such Third-Party Publications and Services. The Organization does not review, control, monitor, or confirm the accuracy of information that may be provided through Third-Party Publications or Services. You agree and acknowledge that you have not engaged, and will not engage, in any activities designed to obtain Airdrop THRUST tokens, including on the basis of, or in reliance on, Third-Party Publications and Services.
You agree that you are the legal owner of the Airdrop Address (as defined below) that you use to access or participate in the Airdrop and the Services and will not sell, assign, or transfer control of such address or the Tokens to third parties to circumvent any Thruster lock-up period or to knowingly redistribute Tokens to a person, IP Address (as defined below), or Airdrop Address (as defined below) that would violate these Airdrop Terms if claimed directly by such person, IP Address, or Airdrop Address.
To participate in the Airdrop, you will need to enter an eligible Airdrop Address (as defined below) and/or connect a compatible third-party digital wallet (either, a “Wallet”). Failure to provide and connect an eligible Wallet may result in the forfeiture of Tokens. There may be technical limitations, delays, and/or transaction fees due or payable to third parties, such as gas fees on Blast transactions, to receive and/or claim Tokens through your Wallet.
By using a Wallet, you agree that you are using the Wallet in accordance with any terms and conditions of an applicable third-party provider of such Wallet. Wallets are not maintained or supported by, or associated or affiliated with, the Organization. When you interact with the Airdrop or other Services, as between the Organization and you, you retain control over your digital assets at all times. We do not control digital assets, including Thruster, in your Wallet, and we accept no responsibility or liability to you in connection with your use of a Wallet. We make no representations or warranties regarding how the Airdrop or other Services will operate with, or be compatible with, any specific Wallet. The private keys necessary to access and/or transfer the digital assets held in a Wallet are not known or held by the Organization. Any third party that may gain access to Participant’s login credential, private key, or third-party cloud or storage mechanism for such information may be able to misappropriate Thruster and/or other digital assets held by Participant. The Organization has no ability to help you access or recover your private key and/or seed phrase for your Wallet. As between you and the Organization, solely you are responsible for maintaining the confidentiality of your private key, and solely you are responsible for any transaction signed with your private key. The Organization is not responsible for any loss associated with the Participant’s private key, digital wallet, vault, or other storage mechanism.
You agree and acknowledge that if you are unable to claim the Airdrop due to technical bugs, smart contract issues, gas fees, wallet incompatibilities, loss of access to a wallet or the key thereto, or for any other reason, you will have no recourse or claim against the Organization or any Organization Person. In any such cases, neither the Organization nor any Organization Person will bear any liability.
You agree and acknowledge that claiming the Airdrop may require interaction with, reliance on, or an integration with third-party products or services (e.g., a wallet or a network or blockchain) that we do not control. In the event that you are unable to access such products, services, or integrations, or if they fail for any reason, and you are unable to participate in the Airdrop or claim Airdrop Thruster as a result, you will have no recourse or claim against us or any Organization Person; and neither we nor any Organization Person bear(s) any responsibility or liability to you.
You agree and acknowledge that your participation in the Airdrop is at your own risk. You agree and acknowledge that you have carefully reviewed, read, and understood the Risk Factors below.
Without limiting any terms in the Terms of Service, you agree that you shall defend, indemnify, and hold the Organization Persons harmless from and against any and all claims, actions, proceedings, investigations, demands, suits, costs, damages, losses, liabilities and expenses (including attorneys’ fees and costs, and fines or penalties imposed by any regulatory authority) incurred by the Organization Persons arising out of or in connection with: (a) your use of, or conduct in connection with, the Airdrop; (b) your breach or our enforcement of these Airdrop Terms, or (c) your violation of any applicable law, regulation, or rights of any third party. If you are obligated to indemnify any Organization Person hereunder, then you agree that the Organization (or, at its discretion, the applicable Organization Persons) will have the right, in its sole discretion, to control any action or proceeding and to determine whether the Organization wishes to settle, and if so, on what terms, and you agree to fully cooperate with the Organization in the defense or settlement of such claim. Your obligations under this indemnification provision will continue even after these Airdrop Terms have expired or been terminated.
ELIGIBILITY
The Organization, in its sole discretion, shall determine the eligibility criteria for participation in the Airdrop, including the amount of THRUST to be distributed to eligible Participants that satisfy certain criteria. Different eligible Participants may receive different amounts of THRUST in any particular Airdrop, depending on the criteria set forth by the Organization for such Airdrop. The Organization shall have no obligation to notify actual or potential Airdrop participants of the eligibility criteria for any Airdrop prior to, during, or after the claims are opened for such Airdrop.
The Organization reserves the sole and absolute right to disqualify any Participant or potential Participant it deems ineligible for an Airdrop (be it under these Airdrop Terms or by having determined that Participant engaged in any conduct that the Organization considers harmful, unlawful, inappropriate, or unacceptable). Such disqualification may be appropriate if the Organization determines, in its sole discretion, for example, that the Participant may have used multiple addresses to obscure its identity or location or to attempt to game, cheat, or hack the Airdrop, Tokens, or the Thruster Protocol.
Participant has full legal capacity and authority to bind and agree to the Airdrop Terms. Participant is at least 18 years of age or is of legal age to form a binding contract under applicable laws. If Participant is acting as an employee or agent of a legal entity and enters into the Airdrop Terms on behalf of the entity, Participant represents and warrants that Participant has all necessary rights and authorizations to do so.
The Organization has implemented a risk-based program applicable to the Airdrop and any related participation or claims through its website, https://app.thruster.finance/, and any subdomains (“Credits”). This program screens Thruster Credits using data and tools provided by an independent blockchain analytics provider (“Screening Service Provider”), applying screening criteria that may extend beyond the requirements of applicable law. Thruster Credits also are subject to geo-location and proxy detection controls to prevent access to our website by users that may be Prohibited Persons or located in a Prohibited Jurisdiction (as defined below). The Organization reserves the right to take such additional steps as it deems necessary or appropriate, in its sole discretion, to verify the identity and eligibility of any person.
The Organization may deny, in its sole discretion, any person, internet-protocol address (“IP Address”), and/or Ethereum or similar digital-asset, smart-contract, or protocol address (“Airdrop Address”) access to the Thruster Credit website (or otherwise exclude such person, IP Address, or Airdrop Address from Thruster Credits) based on data from the Organization’s Screening Service Provider when such data indicates such person, IP Address, or Airdrop Address may present heightened risks based on the Organization’s risk assessment framework (“Risk Assessment Framework”).
By using the Services and participating in any Airdrop:
You agree and acknowledge that your Airdrop Address will be screened and excluded from Thruster Credits, at our sole discretion, if we detect threshold transactions between your Airdrop Address and another Ethereum or similar digital-asset, smart-contract, or protocol address associated with certain risk-exposure categories established by our Screening Service Provider.
You agree and acknowledge that your IP Address will be screened and excluded from Thruster Credits if our geo-location controls detect that you may be located in a (a) Sanctioned Jurisdiction; (b) jurisdiction subject to heightened sanctions risks identified or enforced by certain countries, governments, or international authorities; or (c) jurisdiction otherwise considered high risk with respect to the Airdrop or otherwise (collectively, “Prohibited Jurisdictions”). You agree and understand that the Prohibited Jurisdictions are subject to change at our sole discretion without notice.
To avoid circumvention of our geo-location controls, the Organization has implemented proxy and VPN detection and blocking controls, which are designed to prevent Thruster Credits by any person detected to be using VPN and similar proxy technologies.
USER INTERFACE DISCLAIMER
**There is only one website for Thruster Credits, which is the following: https://app.thruster.finance/credits.**
Use of the website for Thruster Credits and participation in the Airdrop is at the risk of the user. The Services are provided on an “as is” and “as available” basis. The Organization expressly disclaims all warranties of any kind, whether express, implied, or statutory, including the implied warranties of merchantability, fitness for a particular purpose, title, and non-infringement.
The Organization makes no warranty that the Airdrop or the Services will meet your requirements or be uninterrupted, timely, secure, or error-free. The Organization makes no warranty that the results that may be obtained from access to or the use of Services will be accurate or reliable or that the quality of any products, services, applications, information, or other material purchased or obtained by you through the Services will meet your expectations.
By accessing and using the Airdrop or the Services, you represent and warrant that you (a) understand the risks inherently associated with using cryptographic and blockchain-based systems and (b) have a working knowledge of the usage, storage, and intricacies of digital assets, such as those, like THRUST, following an Ethereum token standard (ERC-20). You further represent that you understand that markets for digital assets are highly volatile due to various factors, including adoption, speculation, technology, security, and regulation. You acknowledge and accept that the cost and speed of transacting with cryptographic and blockchain-based systems, such as Blast, are variable and may increase or decrease dramatically at any time. You acknowledge and accept the risk that your digital assets may have no value or lose some or all of their value during the Airdrop Period, any Thruster lock-up period, or after. You understand that anyone can create a token, including fake versions of existing tokens and tokens that falsely claim to represent certain projects, entities, or people, and you acknowledge and accept the risk that you or others may mistakenly seek to claim or trade those or other tokens. You acknowledge that the Organization is not responsible for any of these variables or risks and cannot be held liable for any resulting losses that you experience, including losses while accessing or using the Airdrop or the Services. Accordingly, you understand and agree to assume full responsibility for all of the risks of accessing and using the Airdrop and the Services.
You expressly understand and agree that the Organization will not be liable for any indirect, incidental, special, consequential, exemplary damages, or damages for loss of profits, including damages for loss of goodwill, use, or data or other intangible losses (even if the Organization has been advised of the possibility of such damages), whether based on contract, tort, negligence, strict liability, or otherwise, resulting from: (a) the use or the inability to use the Airdrop or the Services; (b) the cost of procurement of substitute goods and services resulting from any goods, data, information, or services purchased or obtained or messages received or transactions entered into through or from the Airdrop or the Services; (c) unauthorized access to or alteration of your transmissions or data; (d) statements or conduct of any third party on the Services; (e) interruption or cessation of function related to our interface or website; (f) bugs, viruses, trojan horses, or the like that may be transmitted to or through the interface or website; (g) errors or omissions in, or loss or damage incurred as a result of the use of, any content made available through the interface or website; or (h) any other matter relating to the Airdrop or the Services.
NO PROFESSIONAL ADVICE AND NO FIDUCIARY DUTIES
All information provided on the website or through the Airdrop or the Services, or otherwise provided by the Organization, is for informational purposes only and is not and should not be construed as professional advice. You should not take, or refrain from taking, any action based on any information contained on the website or obtained through the Airdrop or the Services. Before you make any financial, legal, tax, or other decisions with respect to the Airdrop or the Services, you should seek independent, professional advice from an individual who is licensed and qualified in the area for which such advice would be appropriate.
These Airdrop Terms are not intended to, and do not, create or impose any fiduciary duties on us. To the fullest extent permitted by law, you acknowledge and agree that we owe no fiduciary duties or liabilities to you or any other party, and that to the extent any such duties or liabilities may exist at law or in equity, those duties and liabilities are hereby irrevocably disclaimed, waived, and eliminated. You further agree that the only duties and obligations that we owe you are those set out expressly in these Airdrop Terms.
LIMITATION OF LIABILITY AND INDEMNIFICATION
You have reviewed with your professional legal and other advisors and agree with the Disclaimers, Limitations of Liability, and Indemnification provisions in the General Terms.
ENTIRE AGREEMENT
These Airdrop Terms and the Terms of Service contain the entire agreement between you and the Organization regarding the Airdrop and supersede all prior and contemporaneous understandings between the parties regarding the Airdrop. We may modify these Airdrop Terms from time to time, in which case we will update the “Last Revised” date at the top of these Airdrop Terms. The updated Airdrop Terms will be effective as of the time of posting or such later date as may be specified in the updated Airdrop Terms. Your continued access or participation in the Airdrop after the modifications have become effective will be deemed your acceptance of the modified Airdrop Terms.
SEVERABILITY
If any term, clause, or provision of these Airdrop Terms is held to be illegal, invalid, void, or unenforceable (in whole or in part), then such term, clause, or provision shall be severable from the Airdrop Terms without affecting the validity or enforceability of any remaining part of that term, clause, or provision, or any other term, clause, or provision in the Airdrop Terms, which will otherwise remain in full force and effect. Any invalid or unenforceable provisions will be interpreted to affect the intent of the original provisions. If such construction is not possible, the invalid or unenforceable provision will be severed from the Airdrop Terms, but the rest of the Airdrop Terms will remain in full force and effect.
RISK FACTORS
Claiming, using, transacting in, holding, and/or purchasing or selling the Thruster token involves a high degree of risk, including unforeseen risks that may not be included below. You should consult with your legal, tax, and financial advisors and carefully consider the risks and uncertainties described below, together with all of the other information in these Airdrop Terms, before deciding whether to claim, use, transact in, hold, purchase, or sell the token. If any of the following risks were to occur, the Token or Protocol could be materially and adversely affected.
References in these risk factors to (i) the “Protocol” refer to the collection of smart contracts known as the Thruster Protocol, (ii) the “Token” or “THRUST” refers to the Thruster token used on the Thruster Protocol, and (iii) “Application” refers to any ‘front-end’ or web interface that the Organization may host, including the Thruster website and any subdomain.
There is only one website for Thruster Credits, which is the following: https://app.thruster.finance/credits. Do not trust any other website regardless of its source or origin or any link routing you to a different website.
Risks Relating to the Protocol
Risks Relating to the Launch of the Protocol. The THRUST token is designed to be used on the Thruster Protocol. There can be no assurance that THRUST tokens or the Protocol will function as intended or as described on any website or in other communications, or that it will be maintained and further developed according to current plans. There can be no assurance that you will be able to utilize THRUST or the Protocol in any particular way.
Risks Relating to Smart Contracts and Programs. The Protocol is generally comprised of a number of smart contracts. Smart contracts and programs are computer codes that can be created and run by the users of the network on which such smart contract or program is based. A smart contract or program can take information as an input, process that information through the pre-determined rules and conditions defined in the computer code, and execute certain actions, such as THRUST transactions, pursuant to such programming. The use of smart contracts and programs creates substantial risk exposures. Smart contracts are self-executing once deployed, generally without reliance on a central party, and use experimental cryptography. Smart-contract risks include the following, which may affect adoption, continued use, or functioning of the Protocol and thereby your ability to use THRUST:
Flawed or Imprecise Code: Smart contract code may be imprecise or flawed. In such cases, smart contracts on the Thruster Protocol could have specifications or conditions that are implemented or executed in ways that are not expected. You may be at risk of losing all or a substantial portion of your staked digital assets through an adverse event relating to such code. Smart contracts could contain vulnerabilities or bugs that could be exploited, potentially resulting in a complete or substantial loss of your staked digital assets.
Lack of Remediation: If imprecise or flawed code is discovered in a deployed smart contract, it may not be susceptible to identification ex ante, and remediation may be difficult or ineffective. In some cases, the only practical remediation may include deploying a new smart contract or incorporating updating mechanisms that may be disruptive, risky, complex, costly, time-consuming, and/or unable to reverse adverse scenarios, including complete or substantial loss of your staked digital assets.
Flaws in Programming Languages: The use of programming languages in smart contracts poses risks, including vulnerabilities arising from language complexity, potential bugs and flaws in language designs or compilers, limitations in functionality or performance impacting implementation, and a lack of maturity and sustained support for certain languages impacting the reliability and security of the developed contracts. Even widely used programming languages, like Solidity, may have compiler bugs or other flaws that, if discovered and exploited, may result in substantial or total losses of your staked digital assets.
Irrevocable Token Transactions: The use of a distributed ledger and blockchain technology creates a public record of Token balances that is exceedingly difficult to change once it reflects a particular state. This means that if a Token transaction were executed in error or as a result of fraud or theft, such a transaction would not be practically reversible. Consequently, the Organization will be unable to replace missing or misappropriated THRUST tokens or seek or provide reimbursement for any such erroneous transfer, fraud, or theft. The inability to reverse transactions or seek other forms of redress for such action, error, fraud, or theft could result in the permanent loss of some or all of your tokens. This lack of redress could cause reputational harm to, and diminish participation on, the Protocol and/or adversely affect the financial viability or performance of the Organization.
Lack of Control over Protocol and Upgrades: The Thruster Protocol is envisioned to be an open-source project with Protocol governance collectively controlled by a community of users (“Protocol Users”). However, the Organization currently has control over certain multi-signature wallets relating to the Protocol, enabling certain upgrades and transactions. Under current plans, over time, the Organization will not have control over these wallets and the Protocol, nor will it be able to control the actions of Protocol Users. This means that although the Organization has engaged in substantial research and development with respect to the Protocol and its governance and security features, any future changes to the Protocol may need to be voluntarily adopted by Protocol Users, including, as applicable, Protocol Users participating in governance as token holders and/or as signatories for multi-signature wallets operated by the community.
Because the Organization will lack control over community governance and the Protocol under current plans, it will not be able to prevent Protocol Users or others from mismanaging code, ensure that there is an adequate or timely response to emergencies or other identified risks, or adopt necessary code or governance changes. Protocol Users or others may make decisions or take actions (or fail to make decisions or take actions) in ways that adversely affect you, Protocol Users, and/or the Protocol. In addition, the Protocol may not run or function as intended when deployed to mainnet or after upgrades or changes, and in such cases, you and the Organization may have limited recourse. Any of these could result in substantial or total losses of your staked digital assets and/or uses of THRUST.
Furthermore, various technology solutions are and will be incorporated into the Protocol. Some or all of these technology solutions are relatively new and/or untested. There is significant risk to building and implementing new technologies that may have never been used or that are being used in different ways. There is no guarantee that such technologies will operate as intended or as described in any marketing or other materials distributed by the Organization or others, or will continue to function according to current plans.
Insufficient Interest in the Protocol and Token. The Thruster Protocol relies on active engagement by users to function. The Organization makes no assurance that the Protocol will generate enough interest and user engagement to be viable or continue to be viable. It is not possible at this time to evaluate whether sufficient users will participate in the Protocol and whether those users will sustainably and sufficiently engage with and use the Protocol for it to function as intended. Protocol Users could mismanage, misuse, or misappropriate aspects of the Protocol or THRUST in a manner that is detrimental to you, the Protocol, and the broader community of users. This may adversely affect your ability to use THRUST.
Multiple Other Significant Risks. It is possible that, due to any number of reasons, including but not limited to lack of interest from users or partners, inability to attract sustained third-party or community contributors to the Protocol, unfavorable fluctuations in the value of digital and fiat assets and currencies, decreases in the utility of THRUST, failure to generate commercial relationships, intellectual property ownership and other challenges, and macroeconomic and crypto-market-specific factors, the Protocol may no longer be viable to operate and it may be deprecated or cease to have any functionality, users, or viability.
Risks Relating to the THRUST Token
Risks Relating to the Thruster Token in Particular. Significant market and economic factors may adversely affect your ability to use THRUST:
No Market for the Token: Currently, there is no public market for THRUST, and Thruster does not control the development of such a market. A public market may not develop or be sustainable, limiting your ability to sell your THRUST tokens. Additionally, Thruster cannot dictate how token holders or third-party exchanges or platforms may support THRUST, if at all. Even if a public market emerges, it may be new and lack regulatory oversight, making it vulnerable to fraud or manipulation.
Extreme Illiquidity: There will be significant restrictions on the transferability of THRUST tokens. These restrictions may remain in place for an extended period, meaning you might not be able to freely sell or transfer your tokens even if a public market develops. If you eventually can sell your tokens, the market's depth and volume may be insufficient, leading to substantial price concessions.
Inflation: Due to the nature of blockchain protocols, the total circulating supply of THRUST could increase through updates or changes to the protocol. Such inflation could adversely affect you as a holder of THRUST, however this inflation is restricted to only occur at the earliest in the year of 2028.
Adverse Activities in Secondary Markets: Secondary market activities beyond Thruster's control could arise that may negatively impact your ability to use THRUST. Despite significant transfer restrictions aimed at fostering long-term alignment within the Thruster community, there may still be concentrated positions among a limited number of token holders, leading to risks of volatility, herd trading, "dumping," or other correlated market activities. These risks could intensify following the expiration of any lock-up periods for certain token holders, including Thruster service providers and those receiving allocations from Thruster. Moreover, protocol users may vote to approve grants, allocations, or inflationary mints of THRUST, which could incentivize short-term trading and adversely impact you.
Experimental Features and Uses: THRUST may be upgradeable with experimental features and uses. Future developments may not prove valuable, usable, or viable, and contributors may not conduct adequate research or development on these upgrades. Over time, Thruster may not have the ability to implement new features or use cases, and proposed upgrades could face governance challenges or introduce security vulnerabilities that hinder your ability to utilize THRUST.
Risks Related to Legal and Regulatory
Risks of New & Evolving Laws and Regulations: The development of regulatory frameworks governing blockchain technology is rapidly evolving worldwide, including in the United States. As the blockchain, crypto, and Web3 industries continue to expand, Thruster anticipates increased regulatory scrutiny across jurisdictions. The Protocol or THRUST may be found subject to various laws or regulatory regimes, potentially adversely affecting you, the Protocol, or THRUST. Laws and interpretations may change, leading to new or modified laws or regulations that could impact the Protocol and hinder the adoption or use of THRUST, affecting overall market sentiment.
If licenses, permits, or other authorizations are required in jurisdictions where the Protocol or any application is deemed to operate, there is no guarantee that Thruster or another party can secure the necessary licenses or permits for continued operation. Significant changes may need to be implemented in the Protocol to comply with licensing or regulatory requirements, which could pose challenges in avoiding violations of applicable laws. Uncertainty surrounding the legal and regulatory landscape could adversely impact the development, growth, and utilization of the Protocol and, consequently, the use of THRUST.
Risks of THRUST or Transactions Being Deemed Securities: The U.S. Securities and Exchange Commission (SEC) has indicated that certain tokens and transactions may qualify as "securities" under U.S. federal securities laws. Recently, the SEC has initiated enforcement actions against centralized exchanges offering staking arrangements that it considers securities. Determining whether a token or transaction is a security involves complex, evolving analyses based on U.S. case law, and the outcomes may be uncertain. The SEC typically does not provide advance guidance regarding specific tokens or transactions, making it difficult to predict the direction of regulatory developments. Additionally, other jurisdictions may classify certain tokens or transactions as regulated financial instruments. Such classifications could impose significant regulatory obligations on Thruster, the Protocol, Protocol users, or THRUST holders, potentially jeopardizing the Protocol's viability and adversely affecting market sentiment and liquidity.
Risk of Third-Party Illegal Activity: The Protocol and THRUST may be exploited for illegal activities, including fraud, money laundering, gambling, tax evasion, sanctions evasion, and scams. If any third party uses the Protocol or THRUST for illegal purposes, the legal repercussions could negatively impact the Protocol's development, growth, and utilization. Although Thruster cannot control user activities, illegal use of the Protocol could expose the organization, the Protocol, or THRUST holders to claims, lawsuits, and government investigations, potentially resulting in liability and reputational harm.
Activities considered legal in one jurisdiction may be illegal in another, and activities deemed legal at one time may later be classified as illegal. If a Protocol user violates laws in any jurisdiction, Thruster, the Protocol, and THRUST holders may face governmental inquiries or enforcement actions, or be held liable for facilitating such activities.
Risk of Sanctions Violations: The Organization, the Protocol, or THRUST holders could inadvertently violate or facilitate violations of economic and trade sanctions, as well as export control laws. Such regulations prohibit or restrict specific operations, investments, and services, including dealings with sanctioned countries and entities. While Thruster does not engage with sanctioned entities, it may not completely prevent interactions with such parties. Violations or alleged violations of these laws may expose the Protocol, its users, and THRUST holders to reputational harm and significant penalties, including fines, imprisonment, and other remedial measures, adversely affecting the Protocol's development and market sentiment surrounding THRUST.
Risk of Entering into a General Partnership: By holding THRUST or using it to vote on governance proposals, it could be argued that THRUST holders have formed a general partnership or unincorporated association with other holders. At least one U.S. court has ruled that holders of governance tokens constituted an unincorporated association. If this were found to be the case with THRUST, holders could face unlimited liability for the actions of other members or the Protocol itself, potentially negatively impacting market sentiment and discouraging participation.
Risks Associated with the Tax Treatment of Digital Assets: The taxation of digital assets remains uncertain due to the evolving legal landscape and the lack of comprehensive guidance. Changes in tax laws or guidance regarding digital asset transactions could adversely impact the value of THRUST and your ability to engage in specific transactions. Additionally, Thruster or its subsidiaries may have tax reporting obligations in various jurisdictions concerning any airdrop of THRUST. It is advisable to consult a tax advisor regarding the tax treatment of THRUST in your jurisdiction.
Operational Risks
Risks of Competition: The Thruster Protocol competes with various existing products and platforms, as well as potential new entrants to the market. Some current or future competitors may operate under different regulatory regimes that facilitate broader or faster adoption, potentially allowing them to outcompete the Protocol. Alternatively, competitors might exert different levels of control over their protocols, enabling quicker or more extensive adoption. Competitors could also create more successful protocols, applications, or tokens for various reasons, including superior user experiences, more compelling incentives, greater developer and user attraction, more sustainable token economics, or a more lenient interpretation of applicable laws.
Risks of Security Weaknesses or Attacks: Cyberattacks and security breaches involving the Protocol, THRUST, or third parties interacting with the Protocol, such as decentralized applications or crypto wallets, could result in the loss of THRUST or adversely impact the Protocol. The Protocol could be vulnerable to various threats, including malware attacks, denial-of-service attacks, consensus-based attacks, Sybil attacks, governance attacks, and exploitable code. Furthermore, upgrades or changes to the Protocol proposed by parties other than Thruster may inadvertently introduce new vulnerabilities.
Even if the Protocol itself is not directly impacted, any perceived security breach or cyberattack on crypto companies or blockchain networks could undermine user confidence in the crypto-economy and blockchain technology, negatively affecting the Protocol and the market's perception of its security measures. Digital assets are typically controlled solely by the possessor of a unique public and private key pair. If your private key is lost, destroyed, or compromised, and no backup is available, you will lose access to the tokens held in that wallet.
Additionally, if any THRUST tokens are custodied or managed by a third party, such as a custodian providing services to Thruster, they may be subject to security breaches or malicious activities. Such events could severely impact your THRUST holdings and your ability to use them.
Risk of Decentralized Operations: Coordinating operations, implementing feature updates, and launching new products among a distributed community can lead to inefficiencies and delays. Such inefficiencies could stifle new developments, allowing more centralized competitors to act more efficiently and outcompete the Protocol, resulting in decreased usage and negative sentiment.
The role of Thruster in research and development, given its lack of operating history and the inexperience of some service providers, presents additional risks. Furthermore, certain multi-signature wallets will have transactional authorities related to the Protocol, including the ability to pause functionalities, reverse slashing, implement upgrades, and other controls. Currently, some of these wallets may be controlled by Thruster or contributors, while others may be managed by third-party committee members beyond our control. Over time, Thruster intends to transfer control of these wallets to the community. However, these independent parties could act in ways that might pose risks to the Protocol and the use of THRUST.
Unanticipated Risks: Cryptographic tokens and blockchain protocols are new and untested technologies. The design concepts, smart contract mechanisms, algorithms, and parameters associated with THRUST and the Protocol may undergo updates or changes. Besides the known risks, there may be additional, unanticipated risks associated with claiming, using, buying, transacting in, and holding THRUST. These risks could manifest as unexpected variations or combinations of the discussed risks. Furthermore, new risks may arise as the Protocol and THRUST evolve or when third parties integrate them into their products. The Organization has no obligation to keep participants informed about the development of the Protocol or THRUST, and a lack of available information may pose additional risks.
Fraudulent Websites: Users may encounter fraudulent websites, emails, text messages, and social media accounts impersonating Thruster or associated entities. These scams aim to defraud users and steal their digital assets. Caution is advised when engaging with links or communications that direct you to websites requesting actions like connecting your wallet.
There is only one website for Thruster Credits, please visit: https://app.thruster.finance/credits. Do not trust any other website, regardless of the source or any links leading to different domains.
How to Contact Us: For inquiries regarding the Services or these Terms, please contact us via email at foundation@thruster.finance.
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