Terms of use

1. 2.1. Toyow reserves the right, in its sole discretion, to change these Terms("Updated Terms") from time to time without prior notice or intimation.
2. 2.2. Notice of Updated Terms. Unless Toyow makes a change for legal or administrative reasons, Toyow will attempt to provide reasonable advance notice before the Updated Terms become effective. You agree that Toyow may notify you of the Updated Terms by posting them on the Site
3. 2.3. Acceptance of Updated Terms. Your use of the Platform after the effective date of the Updated Terms constitutes your agreement to the Updated Terms. You should review these Terms and any Updated Terms before using the Platform.
4. 2.4. Effective Date of Updated Terms. The Updated Terms will be effective as of the time of posting, or such laterdate as may be specified in the Updated Terms, and will apply to your useof the Platform from that point forward.

In this agreement the following terms, unless the context otherwise indicates, will have the following meanings:

1. a.

   AML means adherence to the standards under VARA Virtual Assets and Related Activities Regulations 2023 and all associated regulations and rules in respect of the deposit, purchase or sale of Customer Funds, Digital Collectables, Assets , Securitized Token Offerings and Real World Asset backed tokens;

2. b.

   AML Regulations means applicable adherence to the standards under VARA Virtual Assets and Related Activities Regulations 2023;

3. c.

   AML Policy means the policies and programs maintained by Toyow to comply with AML Regulations;

4. d.

   Business Day means a day that is not a Saturday, Sunday or publicholiday in the United Arab Emirates and/or India;

5. e.

   Customer Funds or Customer Deposits means money (fiat) deposited into our third party partner to facilitate creation, purchaseor sale of Customer Assets by the user on the ToYoW Platform;

6. f.

   Customer Assets means Digital Collectables, Assets, Securitized Token Offerings;

7. g.

   Digital Collectables means all tokens whether Fungible, Semi Fungible or Non Fungible in Nature as well as all Real World Asset backed tokens And which are not classified as Assets and Securitized Token Offerings;

8. h.

   Assets means Digital Payment Tokens used by the user for the purpose of fee payments on the Platform;

9. i.

   Securitized Token Offerings means and refers to all tokens that fall under the definition of Security Tokens as defined under the DFSA's "Security Tokens Offerings - Guidance and Regulatory Framework" paper;

10. j.

    User Asset Account or Account means and entails the overall term for all wallets and accounts that the User holds with the Company on the Toyow Platform including all Customer Assets;

11. k.

    Company means XChain Technologies FZCO, [Registration No: DSO-FZCO-18065], as the context may require;

12. l.

    Competent Authority means the IFZA licensing authority or such other relevant government authority (as the case may be);

13. m.

    Dispute means a dispute, controversy or claim between any of the parties as to the construction of these Terms of Use, the rights or obligations of a part under these Terms of Use; or any other matter arising out of or relating to these Terms of Use;

14. n.

    Force Majeure shall mean and include any cause arising from or attributable to acts, or events, beyond the reasonable control of Toyow, including natural calamity, strikes, terrorist action or threat, civil commotion, riot, crowd disorder, invasion, war, threat of or preparation for war, fire, explosion, storm, flood, earthquake, subsidence, structural damage, epidemic or other natural disaster, calamity, attacks including through computer viruses, hacking, denial of service attacks, ransomware or other manmade disruptions or any law, order enactment, statutory direction, legislation, regulation, rule or ruling of government or any court of law or of a Government or regulatory authority;

15. o.

    KYC means know your customer requirements under the AML Act orthe AML Regulations as may be applicable;

16. p.

    Privacy Policy means the privacy policy of the company available at www.toyow.com/privacy-policy;

17. q.

    Digital Payment Token has the same meaning as defined in the applicable VARA guidelines;

18. r.

    User or Client shall mean persons availing of the Toyow Services (as defined below), directly or indirectly, and are referred to herein as “Users”;

19. s.

    Toyow Platform shall either exclusively or collectively mean and include Toyow Android App, Toyow iOS App (collectively, “Toyow App”) or Toyow Web app (“Web version”), Toyow website “www.toyow.com” (“Toyow Website”) and other web assets on the toyow.com domain, together with the Toyow Developer Portal, Public APIs and secure authentication for Users;

20. t.

    Toyow Services means the services made available from time to time on the Toyow Platform.

1. 4.1. Account Creation. You must complete the registration process by providing Toyow with current, complete, and accurate information as prompted by the applicable registration form. You also will choose a password and an email address.
2. 4.2. Responsibility for Account. You are entirely responsible for maintaining the confidentiality of your password and account. Furthermore, you are entirely responsible for any and all activities that occur under your account. You agree to notify Toyow immediately of any unauthorized use of your account or any other breach of security.
3. 4.3. Liability for Account Misuse. Toyow will not be liable for any loss that you may incur as a result of someone else using your password or account, either with or without your knowledge. You could be held liable for losses incurred by Toyow or another party due to someone else using your account or password.
4. 4.4.

   Closure of the Account. You may close your account at any time by contacting Toyow on the email- [email protected]through the specified support channel and requesting to do so. Toyow may, at any time without notice in our sole discretion, withdraw your account and suspend, restrict or withdraw your access to the Platform, including if we cease the operation of the Platform, or if we believe that your account has been used by someone else or if in our opinion, you are abusing the use of the Platform or if you fail to comply with one or more terms of these Terms. We also reserve the right to file claims under applicable laws and regulatory recourse for misuse of the platform.

1. 11.1. Content Ownership. You retain all ownership rights allocated to the Digital Collectable ( “ Asset “thereafter) to content uploaded to the Platform up until you choose to sell the asset at which point you will relinquish rights associated with it.
2. 11.2. Content License. By submitting content to the Platform, you grant Toyow a worldwide, non-exclusive, royalty-free, sublicensable, and transferable license to use, reproduce, distribute, prepare derivative works of, display, and perform the content in connection with the Platformand Toyow's (and its successors' and affiliates') business, including without limitation for promoting and redistributing part or all of the Platform (and derivative works thereof) in any media formats and through any media channels.

1. 14.1. Toyow may suspend or terminate your access to the Platform immediately without prior notice and without further obligation or liability to you if, in Toyow's sole discretion, it determines that you have breached or failed to comply with any provision(s) of the Terms. Toyow may also suspend your access to the Platform or terminate the Terms at any time without written notice to you for any reason whatsoever.
2. 14.2. If the Terms are terminated for any reason, you are still bound by the Terms as set out herein. To the extent permitted by applicable law, the disclaimers, limitations on liability, termination, interpretative provisions, and your warranties and indemnities shall survive any termination of the Terms.
3. 14.3. Toyow has no liability of any kind or any nature whatsoever to you solely by reason of any change, modification, suspension or discontinuance of the Platform in accordance with the Terms. You agree that you shall not make any claim against Toyow, including with respect to any lost revenue, profits or opportunities as a result of such change, modification, suspension or discontinuance or on account of any expenditures made or actions taken in reliance on the expected continuation of the Platform or the Terms.