Terms of Token Sale: Unpacking the Fine Print
The intent of this post is to help educate you, a Global Messaging Token (GMT) holder, on your rights and responsibility to the Mercury Protocol network.
Note: This article is in reference to the Terms of Token Sale mutually agreed upon during the GMT Launch Event.
We want to help you and all GMT holders understand that your support during the GMT Launch Event was a voluntary contribution to use the product described in our Whitepaper. For this, we are extremely appreciative to the Mercury Community for supporting our project.
Terms of (Token) Sale
As a reminder, all GMT purchasers agreed to the Token Sale Agreement when registering for the GMT Launch Event. If you purchased GMT during the GMT Launch Event, we strongly urge you to review the Token Sale Agreement again in its entirety.
Purpose and Use of GMT
GMTs are not intended to be a digital currency, security, commodity or any other kind of financial instrument. By participating in the GMT Launch Event, you agreed to purchase GMT in exchange for the services described in our Whitepaper. Please note, GMT purchasers must remain in control of their purchased GMT at all times. Participation in secondary markets is explicitly forbidden.
GMT is a decentralized ERC20 token that Company is selling in the Token Sale and that may be used in connection with Platforms. We anticipate that individuals with GMT may be able to use GMT in Platforms to receive access to premium services, features and functionality, and may receive GMT for participating in certain incentivized activities. — TOS, Section 1.a
[Token sale participants purchased] GMT solely for use in connection with Token Utility. — TOS, Section 10.f
The keys to the vault are in your hands! You are responsible for implementing reasonable measures for securing your wallet and any other storage mechanism you use to hold GMT you purchased from us, including any requisite private keys or other credentials necessary to access such wallet or vault.
The same way that you wouldn’t blame your contractor for an act of God that could damage your personal property, it wouldn’t be fair to hold the company accountable for any losses when the keys to your wallet are exclusively in your hands. This is a friendly reminder that you are solely responsible for creating, replicating, and storing your private and public keys somewhere safe and accessible to you and only you. Be vigilant!
Moving Forward: How Token Holders Can Help
As a GMT holder, you have the power to bring value to the Mercury Protocol network. Our team has already integrated the Mercury Protocol in Dust with GMT features (beta) and rewards to show you all the initial phase of creating a tokenized social network on the blockchain. We hope this bolsters our community by having a working product with GMT features out on the market. Now it’s time activate our passionate GMT community! Here’s how you can help us grow faster and build smarter:
- Activate your Dust-GMT wallet
- Generate quality content and engage the Mercury network
- Provide constructive feedback
- Invite your friends and family to join the community
- Be consistent and report inconsistencies
- Unlock GMT Rewards through daily activity
- Discuss the benefits of the Mercury Protocol with the developer community
In addition, we’re looking for feedback from the development community on some new initiatives. If you are an application developer or product manager interested in early adoption of Mercury Protocol, we want to hear from you. Please email firstname.lastname@example.org or drop a line in one of our channels below!