📄Terms of Service
These Terms cover only the Private Sale process.
VERV is a Decentralized Autonomous Organization that manages voluntary on-chain social experiments and currently holding a Private Sale event within networking of the Founders and no to little marketing activities.
Investor or Client is a person or entity that would like to participate in the experiment.
Fusion is a hybrid platform that will manage relations between Investor and VERV and located at https://app.vervdao.org. The frontend is hosted on centralized servers, but the logic of the Private Sale is written on smart contracts and saves the state on-chain in Ethereum main network (chain_id: 1).
Investors can purchase any number of tokens at a very early stage to establish commitment in the experiment and have some VRV tokens on their balance for further stages of the development.
All information, data, services, and anything else that is transferred from VERV to Client considered to be as-is. There is NO ANY GUARANTEES or coverage in case of loss.
VRV is an ERC-20 token that is published on the Ethereum main network.
Additionally, PrivateSale.sol file that holds the logic of the sale published on the same network
Purchased during Private Sale, these VRVs are not subject to cliff of vesting — after Private Sale ends, the Investors can do with them whatever they want. VRV will be required for utility purposes during further activities on the Fusion platform.
Private Sale is running in an auction mode. Min. price is $0.024 and is paid only in ETH. Investors are required to have a noncustodial wallet to participate in the venture and to be basically familiar with crypto transactions. During auction, an Investor is required to fill 2 inputs — 1) Number of tokens he would like to purchase, 2) Price per 1 VRV.
10% of the amount will be deducted from the Investor's wallet immediately after his confirmation. This is a non-refundable deposit. In case when his bid wins, the Investor needs to pay the remaining 90%. In case of failure within 24h, tokens are moved to the last wave and will be able to purchase again.
Investors are qualified for only 1 BID PER WAVE. There is no way to change the bid once done! Select the price per token with wisdom, as too low might not guarantee you to get the desired volume of VRVs.
There are 10 waves, 750K of worth each. The duration of each wave is 24 hours. Winners are determined by the order book — bids with the highest price per token will be executed first (sort by price per token in descending order).
The order book is designed to execute bids from the highest price (per token) to the lowest price for the lots that entirely available. Unallocated amounts transferred for the last, 11th wave.
Any technical difficulties will be solved based on the Whitepaper. Funds won't be lost if there are some problems with the interface or code logic for this event.
Any attacks, fraud, or scam will be result in a permanent ban from VERV's Ecosystem and other restrictions from the VERV.
The goal of the Private Sale is to validate the overall idea from the commitments of the Investors. Once validated, VERV is brining to market, Venture Builder.
Soft cap: $30K, hard cap: $150K. VERV's goal is to get $100K, everything above $100K will be moved towards further liquidity on exchanges and other platforms, which should increase daily trading volume.
Any amount below the soft cap will be moved towards liquidity
Any questions regarding this ToS or any other issues with VERV could be answered via we@vervdao.org. No guarantees on answers.
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