Legal information for Jury.Online
READ THESE TERMS AND CONDITIONS (“TERMS”) CAREFULLY BEFORE
USING THE SERVICES DESCRIBED HEREIN. BY UTILIZING THE
WEBSITE LOCATED AT HTTP://JURY.ONLINE (“WEBSITE”), PRODUCTS
OFFERED THEREIN, YOU ACKNOWLEDGE THAT YOU HAVE READ
THESE TERMS AND CONDITIONS AND THAT YOU AGREE TO BE BOUND
BY THEM. IF YOU DO NOT AGREE TO ALL OF THE TERMS AND
CONDITIONS OF THIS AGREEMENT, YOU ARE NOT AN AUTHORIZED
USER OF THESE SERVICES AND YOU SHOULD NOT USE THIS WEBSITE
NOR ITS PRODUCTS. YOU MAY BE REFERRED TO YOU OR THE ENTITY
JURY.ONLINE (“JURY.ONLINE”) RESERVES THE RIGHT TO CHANGE,
MODIFY, ADD OR REMOVE PORTIONS OF THESE TERMS AT ANY TIME
FOR ANY REASON. WE SUGGEST THAT YOU REVIEW THESE TERMS
PERIODICALLY FOR CHANGES. SUCH CHANGES SHALL BE EFFECTIVE
IMMEDIATELY UPON POSTING. YOU ACKNOWLEDGE THAT BY
ACCESSING OUR WEBSITE AFTER WE HAVE POSTED CHANGES TO
THESE TERMS, YOU ARE AGREEING TO THE MODIFIED TERMS. IN
PARTICULAR, JURY.ONLINE IS LIKELY TO CHANGE THESE TERMS
AFTER THE DEVELOPMENT OF THE PRODUCT (PLATFORM AND
SERVICE) AND ITS PUBLIC RELEASE. THESE TERMS ARE MOSTLY
FOCUSED ON THE DISTRIBUTION OF JURY.ONLINE TOKENS.
THIS DOCUMENT OR ANY OTHER DOCUMENT, PRODUCED AND SIGNED
BY JURY.ONLINE, DOES NOT CONSTITUTE AN OFFER OR SOLICITATION
TO SELL SHARES OR SECURITIES IN JURY.ONLINE OR JURY.ONLINE
OR THE WEBSITE OR THE PRODUCTS OFFERED THERETO. NONE OF
THE INFORMATION OR ANALYSES PRESENTED ARE INTENDED TO
FORM THE BASIS FOR ANY INVESTMENT DECISION, AND NO SPECIFIC
RECOMMENDATIONS ARE INTENDED, AND JURY.ONLINE SERVICES
AND THE WEBSITE ARE NOT, DO NOT OFFER AND SHALL NOT BE
CONSTRUED AS INVESTMENT OR INVESTMENT ADVICE OR FINANCIAL
PRODUCTS, BUT AS SOFTWARE. ACCORDINGLY, THIS DOCUMENT DOES
NOT CONSTITUTE INVESTMENT ADVICE OR COUNSEL OR
SOLICITATION FOR INVESTMENT IN ANY SECURITY AND SHALL NOT
BE CONSTRUED IN THAT WAY. THIS DOCUMENT DOES NOT
CONSTITUTE OR FORM PART OF, AND SHOULD NOT BE CONSTRUED AS,
ANY OFFER FOR SALE OR SUBSCRIPTION OF, OR ANY INVITATION TO
OFFER TO BUY OR SUBSCRIBE FOR, ANY SECURITIES.
ACQUISITION OF CRYPTOGRAPHIC TOKENS FROM JURY.ONLINE DOES
NOT PRESENT AN EXCHANGE OF CRYPTOCURRENCIES FOR ANY FORM
OF ORDINARY SHARES IN JURY.ONLINE OR THE WEBSITE, AND
HOLDER OF ANY CRYPTOGRAPHIC TOKENS, ISSUED BY JURY.ONLINE
IS NOT ENTITLED TO ANY GUARANTEED FORM OF DIVIDEND OR
OTHER REVENUE RIGHT. HOLDERS OF JURY.ONLINE CRYPTOGRAPHIC
TOKENS ARE ONLY ENTITLED TO THE USE OF JURY.ONLINE SERVICE,
PROTOCOL AND OTHER RELEVANT JURY.ONLINE SOFTWARE AND
CERTAIN OTHER RIGHTS WITHIN JURY.ONLINE IN ACCORDANCE WITH
THE TERMS SET OUT HEREIN.
JURY.ONLINE CRYPTOGRAPHIC TOKENS ARE AVAILABLE TO USERS IN
EXCHANGE FOR CERTAIN OTHER CRYPTOGRAPHIC TOKENS AND FIAT
JURY.ONLINE EXPRESSLY DISCLAIMS ANY AND ALL RESPONSIBILITY
FOR ANY DIRECT OR CONSEQUENTIAL LOSS OR DAMAGE OF ANY KIND
WHATSOEVER ARISING DIRECTLY OR INDIRECTLY FROM: (I) RELIANCE
ON ANY INFORMATION CONTAINED IN THIS DOCUMENT, (II) ANY
ERROR, OMISSION OR INACCURACY IN ANY SUCH INFORMATION OR
(III) ANY ACTION RESULTING THEREFROM, (IV) USAGE OR
ACQUISITION OF PRODUCTS, AVAILABLE THROUGH THE WEBSITE.
1.1 The following terms shall have for the purposes of these General terms
and conditions the following meanings.
(a) “Arbiter”, “Jury.Online Arbiter” is a person with an
Ethereum account accepted to resolve disputes using Jury.Online
Protocol that agrees to participate in the resolution.
(b) “Auditors” shall have the meaning, set out in paragraph 3.10.
(c) “BTC” or “Bitcoin” shall mean the digital currency and
payment system using peertopeer transactions verified by
network nodes and recording in a public distributed ledger called
(d) “Digital Asset” are tokens, available in particular public
blockchain network, in this case Ether and Bitcoin.
(e) “ETH” or “Ether” shall mean value token of the Ethereum
blockchain called “ether”.
(f) “Ethereum” shall mean an opensource, public, blockchainbased
distributed computing platform featuring smart contract
(g) “European Economic Area” or “EEA” shall mean all EU
countries and in addition Iceland, Liechtenstein and Norway.
(h) “Founders” shall have the meaning, set out in paragraph 2.1.
(i) “JOT” means Jury.Online Token, which is the Arbiter
compensation unit that is used to reward Arbiters for their
arbitrage of disputes using Jury.Online Protocol.
(j) “Jury.Online Protocol” means the way and the rules of
interaction between all participants of deal including
counterparties and Arbiters and shall also have the meaning, set
out in paragraph 3.10
(k) “Jury.Online Service” means implementation of Jury.Online
Protocol with a convenient for users way of using it.
(l) “Jury.Online” means the Project and Jury.Online Foundation, a
limited liability company incorporated in Estonia for indefinite
time in accordance with the laws of Estonia, for the purpose of
developing Jury.Online Protocol and Jury.Online Service.
(m) “Minimum Cap” shall have the meaning, set out in paragraph
(n) “Project” shall have the meaning, set out in section 3.
(o) “Restricted Areas” shall have the meaning, set out in
(p) “Retained Jury.Online IP” shall have the meaning, set out in
(q) “Terms” means these General Terms and Conditions.
(r) “Thirdparty Wallet” is a solution, enabling users to store their
Digital Assets and Jury.Online Tokens.
(s) “Total JOT Number” shall have the meaning, set out in
(t) “VAT” means value added tax of relevant jurisdiction, if
(u) “Website” shall mean http://jury.online.
2. THE JURY.ONLINE
2.1 Jury.Online Foundation is a limited liability company, established under
the laws of Estonia, with its seat in Tallinn, Estonia. The shareholder and
the management board member of the Jury.Online Foundation is
Alexander Shevtsov, who is at the same time one of the founders of the
Jury.Online Project (“Founders”).
2.2 Jury.Online Foundation is a special purpose organization, incorporated
for indefinite time for the purposes of developing the Project, as defined
herein, and providing service and operational support for the Project.
2.3 Jury.Online Foundation uses all of its funds and revenues for the
development and running of the Project. Jury.Online Foundation may to
its best knowledge and diligence allocate funds, received through
distribution as set out in section 5, for the purposes of Jury.Online
Foundation, mainly development of the Project and operating costs of
Jury.Online Foundation. Jury.Online Foundation may engage
subcontractors to partially or entirely develop, execute and deploy the
2.4 Users understand that by acquiring JOT they have no right or interested
in Jury.Online Foundation and its governance.
2.5 Jury.Online Foundation reserves its right to nominate more directors
should it establish that would be beneficial to Jury.Online Foundation and
3. THE PROJECT
3.1 The Jury.Online Foundation has been established for the development,
managing and running of the Jury.Online Protocol. At the time of drafting
and publishing of these Terms, Jury.Online Service platform and
Jury.Online Protocol are already being developed. It is understood that all
features, set out herein, have not yet been developed and will at first not
be available to JOT holders.
3.2 Jury.Online Protocol will act as a decentralized autonomous organization
based on Ethereum smart contracts and as an innovative blockchain
platform – a mechanism to appoint Arbiters enabling users independent
arbitrage to operate.
3.3 Jury.Online Protocol will be entitled to distribute fees among appointed
Arbiters for their services to the users transacting on the Ethereum
platform. The fees shall be beforehand agreed by the deal's counterparties
evaluated using Arbiters prices for their services.
3.4 Jury.Online Protocol undertakes that fee schedule shall be published on
the Website at any given time and users by accepting these Terms agree
that the fees, published in the Website, are the valid and binding ones and
that change of the fees does not also mean change of these Terms.
3.5 JOT is developed and run on public Ethereum network.
3.6 Users, using on Jury.Online Services, are bound to the rules Jury.Online
3.7 Deployment of the Jury.Online Protocol and Service will be done in
accordance with the roadmap published on the Website.
3.8 The Project does not encompass and Jury.Online is not provider of:
(a) exchange services between virtual currencies and fiat currencies,
(b) wallet or custodial services of credentials necessary to access
3.9 Users understand and accept that the Project is currently in development
phase and that still requires substantial development works. Due to
unforeseeable material conceptual, technical and commercial changes
before the final release, or any time after the release of the Jury.Online
Protocol and Service, user understands and accepts that an upgrade of
Jury.Online and/or JOT may be required and that, if User decides not to
participate in such upgrade, he may no longer use his JOTs and that nonupgraded
JOTs may lose their functionality in full.
3.10 JOT source code was audited by community and can be viewed at github
4. JOT STRUCTURE AND PERTAINING HOLDERS’ RIGHTS
4.1 JOT will be ERC20 compatible Ethereum token.
4.2 JOT holders will be given rights to pay the Arbiters for their services in
4.3 JOT smart contract address will be published in due time prior to JOT
4.4 JOT carries no rights, express or implied, other than those, set out herein,
if Jury.Online successfully completes and deploys the Jury.Online
Protocol and Service. In particular, JOT holders shall not have any
influence in the development or governance of Jury.Online, and JOT do
not represent or constitute any ownership right or stake, share or security
or equivalent rights or any right to receive future revenue shares, or any
other form of participation in or relating to Jury.Online.
4.5 JOT tokens are designed to be exchangeable on cryptographic token
exchanges. Jury.Online gives no warranties that JOTs will be
exchangeable on bigger exchanges, but undertakes on best effort basis to
do everything that is reasonable possible and within the powers of
Jury.Online to enable exchange of JOTs on as many exchanges as
5. JURY.ONLINE TOKEN (JOT) DISTRIBUTION
5.1 Contributions, given to Jury.Online in exchange for JOT shall be
considered as financial contribution. Contributions can be done in digital
(ETH and BTC) and fiat assets. Failure to follow the instructions on the
Website may limit, delay, or prevent a user from donating. Users
understand and accept that the they make a contribution and receive
JOTs in exchange.
5.2 Token distribution is taken place on Website at https://jury.online/ico.
Subject to paragraph 5.3 the total maximum supply of JOTs is limited to
30,000,000 JOT (“Total JOT Number”). For every 7 JOT sold through
distribution, Jury.Online will issue 3 JOT for itself. Therefore, up to
21,000,000 JOT will be available for the public distribution in accordance
with paragraphs 5.5(a) and 5.5(b) and up to 9,000,000 JOT will be
reserved by Jury.Online. The public token distribution minimum cap is
5.3 Jury.Online reserves a right to emergency stop functionality to stop the
distribution process. Use of this functionality shall remain in discretion of
Jury.Online and shall only be used in limited situations, such as, but not
limited to: i) serious security issue detected, ii) excessive number of JOTs
sold threatening the Jury.Online Service or Protocol as a whole, iii)
serious Service or Protocol performance issue, depriving all users of equal
treatment, iv) any type of material attack on the JOTs, Jury.Online
Protocol, Service or Ethereum network.
5.4 The funds raised from the JOTs distribution will be used exclusively for
the development and running of the Project, as defined above.
5.5 Token distribution is conducted in two phases:
(a) Presale distribution
Jury.Online shall through the Website publicly offer to its users
up to 4,200,000 of JOT with a 30% discount for a price of 1 ETH
for 300 JOT. Minimal amount of JOTs to be bought is 500 JOT.
This stage is envisaged to start on 23 of October 2017 at 14:00
UTC and end on 3 November 2017 at 14:00 UTC.
(b) Sale distribution
This stage of public distribution shall be considered as
continuation of the presale distribution. Within this stage,
Jury.Online shall through the Website publicly offer to its users
up to 16,800,000 JOT with a discount starting from 20%1
price of 1 ETH for 210 JOT. Minimal amount of JOTs to be
bought is 5 JOT. This stage is envisaged to start on 13
November 2017 at 14:00 UTC and end on 13 December 2017 at
5.6 Jury.Online reserves a right to change the dates, set out in the previous
paragraph 5.5 at any given time due to technical or organisational
reasons, without any duty to provide explanation to the users or the
public. Any such changes will be published on the Website.
5.7 The transfer and vesting of the JOTs to their beneficiaries will be effected
(a) The participants in public distribution in accordance with
paragraphs 5.5(a) and 5.5(b) will receive JOTs to the participants’
Ethereum addresses automatically by the Jury.Online token sale
smart contract, controlled by Jury.Online, only in case of reaching
the distribution’s minimum cap of 2,100,000 JOT and pertaining
JOTs will become transferrable after the end of the public
distribution in accordance with paragraphs 5.5(a) and 5.5(b).
(b) Jury.Online will receive their reserved JOTs after the end date of
the public distribution only in case of reaching the distribution’s
minimum cap of 2,100,000 JOT. 20% of the Total JOT Number
reserved for the Jury.Online team shall be blocked for a period of
6 months. After that period 10% of the total amount blocked will
be unblocked every month, with the whole sum therefore
unblocked in 16 months after the end of the public distribution in
accordance with paragraphs 5.6(a) and 5.6(b).
5.8 Logs of all JOTs purchases shall be publicly accessible on the Ethereum
5.9 All contributions to Jury.Online in exchange for JOTs are final and nonrefundable
unless the Minimum Cap is not reached. By participating in
the JOT distribution, you acknowledge that Jury.Online is not required to
provide a refund for any reason, and that you will not receive money or
other compensation in lieu of a refund. In case of not achieveng the
Minimum Cap Jury.Online shall, within a reasonable period of time,
exercise reasonable endeavours to procure that payments are returned to
the wallet address or the accounts from which the payments were
received. Payments will be refunded, excluding any transaction fees.
5.10 Jury Tokens shall be distributed in the following manner:
1 Time bonuses for early contributors will start from 20% discount on the first day with
linear daily decrease by 2∕3% (2 percent for 3 days).
(a) 70% of the Total JOT Number shall be distributed in accordance
with paragraph 5.5(a) and 5.5(b),
(b) 30% of the Total JOT Number shall be reserved by Jury.Online
and distributed as follows:
(i) 20% of the Total JOT Number to the Jury.Online team,
(ii) 7% of the Total JOT Number to the advisers and bounty
programmes to the advisors discretionally chosen by
(iii) 3% of the Total JOT Number remain as a stock of liquidity
to ensure flawless and independent operation of
Jury.Online before it enters cryptocurrency exchanges and
the market stabilizes and for compensations in exceptional
Jury.Online reserves its right to discretionary change the ratio in
6.1 You understand that Digital Assets, JOT, blockchain technology,
Ethereum, Ether, Bitcoin and other associated and related technologies
are new and untested and outside of Jury.Online’ s exclusive control and
adverse changes in market forces or the technology, broadly construed,
will excuse Jury.Online’s performance under this agreement.
6.2 In addition to the above, you also acknowledge that you have been warned
of the following risks, associated with the Website, the Digital Assets, the
JOTs, Jury.Online Service and Protocol and other relevant technologies
(a) Legal risks regarding securities regulations
There is a risk that in some jurisdictions the JOTs and other
Digital Assets might be considered to be a security, or that it
might be considered to be a security in the future. Jury.Online
does not give warranties or guarantees that JOT tokens are not a
security in all jurisdictions. Each user of JOT tokens shall bear its
own legal or financial consequences of JOT tokens being
considered a security in their respective jurisdiction.
Every user is bound to check if acquisition and disposal of JOT
tokens is legal in its jurisdiction, and by accepting these Terms
each user undertakes not to use JOT tokens should their use not
be legal in the relevant jurisdiction.
Acquiring cryptographic tokens in possession and exchanging
them for other cryptographic tokens will most likely continue to
be scrutinized by various regulatory bodies around the world,
which has so far given mixed reactions and regulatory impact.
The legal ability of Jury.Online to provide JOT tokens in some
jurisdictions may be eliminated by future regulation or legal
actions. In the event, it turns out with a high degree certainty
that JOT tokens are not legal in certain jurisdiction, Jury.Online
will either a) cease operations in that jurisdiction, or b) adjust
JOT tokens in a way to comply with the regulation should that be
possible and viable.
(b) Risks associated with Ethereum
JOT tokens are based on Ethereum. As such, any malfunction,
unintended function or unexpected functioning of the Ethereum
protocol may cause the JOT tokens to malfunction or function in
an unexpected or unintended manner. Ether, the native unit of
account of the Ethereum may itself lose value in ways similar to
JOT tokens, and also other ways. More information about the
Ethereum is available at http://www.ethereum.org
(c) Risk of unfavourable regulatory action in one or more
Blockchain technologies have been the subject of scrutiny by
various regulatory bodies around the world. The functioning of
the Ethereum network and associated blockchain networks and
Digital Assets and JOT tokens could be impacted by one or more
regulatory inquiries or actions, including but not limited to
restrictions on the use or possession of digital tokens like JOT
tokens, which could impede or limit their existence, permissibility
of their use and possession, and their value.
(d) Risk of theft and hacking
Hackers or other groups or organizations may attempt to interfere
with your Thirdparty Wallet, the Website or the availability of
JOT tokens and Digital Assets in any number of ways, including