Terms of Service

Last updated: [13/02/2025]

1. Introduction

Welcome to TerraHarbor ("we," "us," or "our"). By accessing or using our platform (the "Platform"), you agree to comply with these Terms of Service (the "Terms"). If you do not agree to these Terms, you must not use our Platform. These Terms apply to all users of the Platform, including those who access or use the Platform’s features, services, and products.

2. Definitions

• Platform Token: A utility token issued by the Platform, which can be acquired and used within the Platform for specific features and services. The Platform Token does not require a license for its use, as it is not directly tied to real-world assets.
• NFT: A non-fungible token that represents ownership or rights associated with a digital asset on the Platform. There are two types of NFTs:
  • Platform NFTs: These are digital assets within the Platform"s ecosystem, typically representing virtual items, rewards, or access within the Platform. They are not directly tied to real-world assets unless specified in the future.
  • Metaverse NFTs: These are digital assets linked to the metaverse, which may or may not be tied to real-world assets depending on licensing. If Metaverse NFTs become linked to real-world assets in the future (such as real estate or rental properties), this may require obtaining a license, and users will be notified of the details at that time.
• Platform: Refers to the entire digital ecosystem, including NFTs, tokens, staking, and other features, operated by TerraHarbor.
• Rental Income: If the Metaverse NFTs are tied to real-world assets in the future (subject to licensing), holders may be entitled to share rental income or other profits from these assets. This income distribution will be explicitly stated in the future when real-world assets are incorporated.

3. Acceptance of Terms

By using the Platform, you agree to be bound by these Terms, our Privacy Policy, and any other terms that may apply to specific features or services. We may modify these terms from time to time. Any updates will be posted on this page with the date of the revision.

4. Platform Token and NFTs

• Platform Token: The Platform Token is a utility token and is not considered a financial asset, investment, or currency. It is intended for use within the platform to access features and services such as staking, voting, and unlocking exclusive content. The Platform Token may be transferred to other users within the platform, subject to the platform"s rules and regulations. No license is required to use the Platform Token.
• Transferability of Platform Tokens: The Platform Token can be transferred between users on the platform without incurring any transfer fees. All transfers are subject to the platform"s rules, guidelines, and limits, which may be updated periodically.
• Platform NFTs: The Platform NFTs represent virtual assets within the platform. These are not tied to real-world assets unless specified in the future. If the platform integrates real-world assets (such as rental properties or physical assets tied to NFTs), this may require obtaining a license for such activities. Platform NFTs can be transferred between users on the platform, subject to the platform"s rules, guidelines, and any applicable limitations or conditions.
• Metaverse NFTs: These NFTs represent virtual assets within the metaverse. While they are typically not tied to real-world assets, there may be future integrations where they are linked to real-world assets (such as property or rental income). If this occurs, it may require the platform to acquire the necessary licenses. Users will be notified if and when real-world assets are incorporated into Metaverse NFTs.

5. Rental Income and Real-World Assets

• Rental Income: If the Metaverse NFTs are tied to real-world assets (subject to licensing), holders of these NFTs may receive a portion of rental income or other profits generated from these assets. This income distribution will be explicitly stated when real-world assets are incorporated.
• License for Real-World Assets: No license is required to launch the Platform or to use Platform NFTs or Platform Tokens for in-platform activities. However, if the Platform ties Metaverse NFTs to real-world assets, such as property or rental income, we may need to acquire the necessary licenses. This will be communicated to users at the time of implementation.

6. Account Registration

To access certain features, you may need to create an account on the Platform. You must provide accurate information during registration and keep your account details up-to-date. You are responsible for maintaining the confidentiality of your account credentials and all activities under your account.

7. Staking and Utility for Platform NFT Holders

• Staking: Users may stake Platform NFTs to gain access to exclusive features or benefits on the Platform. This could include governance voting, access to special content, and other perks. Staking applies solely to Platform NFTs and does not apply to other digital assets or tokens on the Platform.
• Utility and Perks: Holders of Platform NFTs may be entitled to specific perks that provide value within the Platform. These perks may include access to exclusive features, special content, discounts, or other in-platform benefits. However, staking Platform NFTs does not provide financial returns. Instead, it grants access to Platform utilities and features that enhance the user experience.

8. Financial Transactions

• Deposits and Withdrawals: Users can deposit Supported Cryptocurrencies into the Platform to acquire Platform Tokens or engage in other platform activities. Supported cryptocurrencies may change from time to time.
• No Refunds: All transactions are final, and no refunds will be provided unless specified by the Platform. Users are responsible for verifying all transactions before confirming them.

9. Volatility and Risks

• Cryptocurrency Volatility: The Platform Token and supported cryptocurrencies (such as Bitcoin, Ethereum, USDC, or others) are volatile in nature. The value of these digital assets may fluctuate significantly, and users should be aware that they may experience substantial gains or losses.
• Risk of Loss: By using the Platform, you acknowledge that you are aware of the risks associated with cryptocurrency and digital assets, and you accept that you could lose part or all of your assets, including Platform Tokens, NFTs, or supported cryptocurrencies, due to market conditions, technical issues, or other factors beyond our control.

10. Taxes and Tax Reporting

• Tax Responsibility: You are solely responsible for understanding and fulfilling any tax obligations related to your use of the Platform, including any taxes on the purchase, sale, or exchange of digital assets. The Platform does not provide tax advice, and you should consult with a tax professional for guidance.
• Tax Documentation: The Platform may provide you with transaction history for your own records, but it is your responsibility to report and pay taxes on any transactions in accordance with the laws of your jurisdiction.

11. Anti-Money Laundering (AML) and Know Your Customer (KYC)

• AML/KYC Compliance: The Platform adheres to Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations and may request identification and other personal information to verify your identity. Failure to provide the requested information may result in account suspension or termination.
• Suspension or Termination: The Platform reserves the right to suspend or terminate any account that violates AML/KYC requirements or is involved in fraudulent activities. We may also block or reverse any transactions deemed suspicious.

12. No Financial Advice

• No Investment Advice: The Platform does not provide financial, investment, or trading advice. You are responsible for making independent decisions about purchasing, staking, or exchanging digital assets on the Platform.
• No Guarantees: The Platform does not guarantee any financial returns or profits from using the Platform, including from the acquisition or staking of Platform Tokens or NFTs.

13. Privacy and Data Usage

• Privacy Policy: Users agree to the collection, use, and sharing of their data in accordance with the Platform"s Privacy Policy. You can access the Privacy Policy on our website.
• Sensitive Data: The Platform does not collect sensitive personal data unless required by law. Personal data is used only for the operation of the Platform and for compliance with legal obligations.

14. Suspension and Termination

• Suspension of Access: The Platform reserves the right to temporarily suspend or limit access to your account for reasons including violations of these Terms or security concerns.
• Termination of Account: The Platform may permanently terminate your account if you violate these Terms or engage in illegal or fraudulent activities. Upon termination, any NFTs or Platform Tokens in your account may be forfeited.

15. Risk Disclosure

• Cryptocurrency Risk: By using the Platform, you acknowledge the risks of using cryptocurrency, including but not limited to transaction delays, network failures, loss of funds due to hacks, fraud, or wallet errors, and regulatory changes that may impact the Platform’s operations.
• Volatility: The price of cryptocurrency and digital assets can change rapidly, and the Platform cannot be held responsible for any loss or damage arising from such volatility.

16. Platform Fees

• Transaction Fees: The Platform may charge transaction fees for deposits, withdrawals, exchanges, or other activities. These fees will be displayed at the time of the transaction and may be subject to change.
• Fee Changes: The Platform reserves the right to modify or adjust its fee structure at any time. You will be notified of any significant fee changes, which will apply to future transactions.

17. Force Majeure

• Force Majeure Events: The Platform is not liable for any failure or delay in performance due to causes beyond its control, including natural disasters, government actions, technical failures, or other unforeseen events.

18. Limitation of Liability

To the fullest extent permitted by applicable law, the Platform and its affiliates are not liable for any indirect, incidental, consequential, or punitive damages arising from your use of the Platform or the services provided, even if we were advised of the possibility of such damages.

19. Governing Law

These terms are governed by the laws of the United Kingdom, without regard to its conflict of law principles. Once the platform is officially registered in the United Arab Emirates (UAE), the laws of the UAE will apply. You agree to resolve any disputes through binding arbitration in Dubai, United Arab Emirates, once the platform is registered there.