Terms of Use and Risk Notifications of the Luckchemy Platform


I. General

  • 1. These Terms of Use and Risk Notifications of the Luckchemy Platform (“T&Cs” or “Agreement”) constitute and govern the contractual relationship between the parties, Luckchemy N.V. hereinafter referred to as “Luckchemy” or “we”, “us”; or “our”; and you, as the user and customer, hereinafter referred to as “User” or “you” or “yours”.
  • 2. The Agreement stipulated below is effective as of July 20, 2018. Before using the website https://luckchemy.com, (“Website”) please read Agreement carefully. The fact of using the website confirms your consent with the Agreement.
  • 3. The Website is held by Luckchemy N.V., a company incorporated under the laws of Curacao. Luckchemy is now in process of applying for a gambling license in Curacao.
  • 4. The User must read, agree with and accept this Agreement without modifications, which include those Terms of Use and Risk Notifications of the Luckchemy Platform expressly set forth below and those incorporated by reference, before the User may become an active, registered User of the Website. By continuing to access or use the Website, the User agrees to follow this Agreement. This Agreement shall also apply to all services provided by Luckchemy via the Luckchemy Platform and mobile devices, including downloadable applications (the “Services”). All references to the use of the Website shall be construed as references also to the use of our Services provided for mobile devices.
  • 5. Luckchemy may amend and/or assign this Agreement or any rights and/or obligations from time to time. The Agreement and the Privacy Policy are published on the Website and may be changed at any time. Any new version of the Agreement will take effect immediately upon your next visit or login on the Website. By continuing to use the Website, the Services or the software offered by Luckchemy, the User agrees to be bound by the T&Cs as well as by the latest modifications to them. If the User does not agree to be bound by the changes to these T&C's, the User must not use or access our Services, and must inform us in writing immediately. In order to avoid misunderstandings and disputes at a later stage, Users can print out these T&C's. Luckchemy may publish this Agreement in a number of languages and shall reflect the same principles. This is done for information purposes and to help Users. It is, however, the English version that constitutes the legal basis of the relationship between you and Luckchemy. Should there be any discrepancy between the T&Cs in the English version and the version in any other language, the English version shall prevail.
  • 6. These T&Cs enter into force when you register and confirm Your registration details in the registration process on the Website. By registering an Account with the Website, you agree that you have read and understood this Agreement. By using the Website you signify that you have accepted and agreed to the contents contained therein. You must read and understand this Agreement fully before registering an Account with Us. Should you not agree with any part of this Agreement, you must not use or continue to use the Website.
  • 7. Luckchemy reserves the right to refuse and/or cancel Services at its own discretion where the Services are illegal to use.

II. Eligible users

  • 1. The website accepts Users only from those countries, jurisdictions and geographic regions where online gambling is allowed by law. It is the User’s sole responsibility to inquire about the existing gambling laws and regulations of the given jurisdiction before placing bets on the Website.
  • 2. The User guarantees at all times not to be a resident of the following countries: the United States (and its dependencies and territories), France, Malaysia, South Korea, Canada, Thailand, United Kingdom, Hong Kong, Sudan, Poland, India, Puerto Rico, Indonesia, Saudi Arabia, Puerto Rico, China, Spain, North Korea, Ukraine, Cuba, Syria, Iran, American Samoa, Guam, Marshall Islands, North Mariana Islands, Virgin Islands, Macau, Sudan and Iraq.
  • 3. The User assures Luckchemy that he/she is over 18 years of age. No person under 18 years of age or other higher minimum legal age in User's jurisdiction may be registered as a User and any funds deposited or any money won by any such person shall be forfeited. We are entitled to require User to provide proof of age and to refuse a User's admission to the Service if We have reasons to believe that the minimum age requirement is not fulfilled.
  • 4. The services are available to, and may only be used by individuals, who can enter into legally binding contracts under the law applicable to their country of domicile.

III. Registration and Account

  • 1. In order to use the Website, the User must complete the registration form and open a User account (“Account”) on the Website. The User must fill in the registration form provided by Luckchemy which shall at least include the following details:
    • a) The User's identity – The User warrants to provide true, accurate, current and complete information regarding identity during the registration process. Any false information or impersonation of any person or entity, misrepresentation regarding any affiliation with another person, entity or association, use of false headers or other acts or omissions to conceal one's identity from Luckchemy for any purpose will be prosecuted under the fullest extent of the law. A User accessing the Website may be asked to provide valid existing verification of identity and relevant information. Luckchemy reserves the right to ask for the proof of age from the User and limit access to the Website or suspend the User’s Account if the User will fail to meet this requirement.
    • b) Date of Birth.
    • c) The User's place of residence – Please note that the User may be asked to prove his/her place of residence by providing proof of identity such as copy of identity card, passport or driving license and/or utility bill.
    • d) The User's valid e-mail address and if available, contact number (phone / mobile).
    • e) Username – The username must be unique and clearly identifiable, personal and confidential. Offensive or indecent names are not allowed. Further prohibited are usernames that contain or allude to an Internet link or account names which allude to certain rights of the User. We reserve the right to suspend accounts with an unacceptable username. Accounts can be reactivated as soon as suitable and an acceptable alternative username has been chosen.
    • f) Password – The User is advised to choose a strong and non-predictable password for security reasons and is responsible for ensuring that this password is kept as highly confidential. In the event that there is concern that the secrecy of Username and Password is no longer the case, the User should notify Luckchemy immediately.
  • 2. During and after the registration process the User may be required to provide Luckchemy with valid identification, including but not limited to the address, contact email and/or personal telephone number. In the event that Luckchemy has reason to believe that the information given is inaccurate, Luckchemy is entitled to suspend or terminate User’s Account and retain any winnings.
  • 3. With the use of an Account on the Website the User ensures at least the following:
    • a) The User has completed the registration form truthfully and correctly.
    • b) The User is not an individual under 18 years of age or other higher minimum legal age in User's jurisdiction.
    • c) The User is neither under legal supervision nor restricted in his/her business activities.
    • d) The User has registered personally on his/her behalf and not on the behalf of someone else.
    • e) The User uses the Account for personal use and has no commercial intentions.
    • f) The User has no knowledge about any bet result of the underlying bet before placing it.
    • g) The User does not have multiple Accounts on the Website.
    • h) The User has read and accepts the terms of this Agreement.
  • 4. We accept only one Account per person. The use of more than one Account per physical User is strictly forbidden. We retain the right to close a User’s Account at any time and to cancel all the transactions pertaining to any User that has registered more than one Account in his/her own name or under different names, in the event that We have reasonable suspicion that the User has registered multiple Accounts. It makes no difference whether the Accounts have been used with the intent of defrauding or cheating, or otherwise.
  • 5. It is prohibited for Users to sell, pledge, transfer and/or acquire accounts to/from other Users. Funds can only be remitted to the same Account from where they originated at the deposit stage.
  • 6. Luckchemy accepts only natural persons with a single Account as a User. Neither a legal entity nor corporate body is allowed to open or to have an Account on the Website.
  • 7. We will treat as highly confidential the information the User entrusts to us, in accordance with the disclosures we provide during the registration process and in accordance with our Privacy Policy.
  • 8. The User shall not treat Luckchemy as a financial institution nor expect interest on his/her deposit(s).
  • 9. Any amount credited erroneously to a User’s Account should be reported immediately to Luckchemy by the User. Any winnings and funds caused by an error are invalid regardless of how they occurred.
  • 10. In the event of misconduct by a User, Luckchemy is entitled to immediately terminate the Agreement with the User and exclude him from further use of the Website. Further, we are entitled to interrupt and terminate on-going activities, to block the User or the User's Account with or without prior notice and to retain the User's credit and winnings achieved through misconduct until clarification of the situation to our satisfaction.
  • 11. Any indication of fraud, manipulation, cash-back arbitrage, or other forms of deceitful or fraudulent activity which was the basis of a provision of a bonus or otherwise will render the Account inactive along with any and all profits or losses gathered.

IV. Fees and Taxes

  • 1. The User is fully responsible for paying all fees and taxes applied to their winnings according to the laws of the jurisdiction of User’s residence.
  • 2. In countries where the report of winnings and losses is legally prescribed by legal authority or financial institution, the User is responsible for reporting his/her winnings and losses such authorities.

V. Game Rules and conditions specific to lottery games

  • 1. In order to place a bet with an Account on the Website, the User must purchase LUK Tokens, or LUK – a record of participation in the system with a range of functionalities programmed via blockchain technologies which nobody controls and therefore everyone can trust.
    At the start we will offer two types of lotteries:
    • ETH lottery where you can purchase lottery tickets (“Tickets”) in exchange for ETH;
    • LUK lottery where you can purchase Tickets in exchange for LUK.
    A LUK lottery will have higher rewards than an ETH lottery.
  • 2. The User confirms that he/she knows and understands the rules of games offered on the Website (“Games”). It is the User’s responsibility to know the payout percentage of each Game.
  • 3. You hereby agree that Luckchemy as the operator of the Website is placing Game Bets (as defined below) on your behalf.
  • 4. The User submits an instruction through the Website to Luckchemy as the operator of the Website, to place a bet on the outcome of a Luckchemy game event with a determinable outcome (each, a "Game Bet"), on his/her behalf by filling out and submitting the electronic ticket displayed on the Website, the compilation of which allows User to place bets in one or more of Luckchemy’s Games of his/her choice on the Website. To settle the Game Bet amount, the User may either use funds available in his/her User Account or pay for the Game Bet(s) by using an alternative payment method such as fiat currency.
  • 5. Once any Game Bet has been submitted, it cannot be altered or cancelled.
  • 6. Winnings on any Game Bet will be credited to the User Account and the User is able to view any such Winnings on his/her User Account on the Website. In addition, Luckchemy may decide, but is not obliged, to inform the User with respect to Winnings by email, SMS/text message or other ways of communication.
  • 7. Following the creation of a Ticket by the Website system, the Tickets will be used to fund User’s participation in the Luckchemy's Games. The User understands that the User must keep his/her password safe and that the User may not share a password with anybody.
  • 8. Every payment for purchasing Tickets in Luckchemy blockchain lottery game is distributed by the system according to the following proportion: 99% of the Ticket cost is dedicated to the Jackpot fund after replenishing of the bankroll; 0.5% is applied to Luckchemy’s marketing, promotion and operations costs, and the remaining 0.5% is allocated to the prize fund for LUK Token holders draw.
  • 9. Every day the Service raffles a draw among Users who bought Tickets on that day. A Ticket wins when numbers of the ticket match numbers of the winning set according to the table set forth below. Winning set for each lottery type is specified in the appropriate table set forth below.
    5+1 Jackpot (X% Prize Pool) 1 : 36 814 536
    5+0 4 ETH 1 : 1 600 632
    4+1 1 ETH 1 : 175 307
    4+0 0.4 ETH 1 : 7 622
    3+1 0.1 ETH 1 : 4 276
    2+1 0.04 ETH 1 : 321
    3+0 0.02 ETH 1 : 186
    1+1 0.01 ETH 1 : 65.8
    0+1 0.006 ETH 1 : 43.28
    2 0.002 ETH 1 : 13.9

    5+1 Jackpot (X% Prize Pool) 1 : 36 814 536
    5+0 8 ETH 1 : 1 600 632
    4+1 2 ETH 1 : 175 307
    4+0 0.8 ETH 1 : 7 622
    3+1 0.2 ETH 1 : 4 276
    2+1 0.08 ETH 1 : 321
    3+0 0.04 ETH 1 : 186
    1+1 0.02 ETH 1 : 65.8
    0+1 0.009 ETH 1 : 43.28
    2 0.003 ETH 1 : 13.9
  • 10. The process for determination of the winning draw is published on GitHub, which is a development platform used by millions of developers (according to GitHub) that provides hosting and reviewing of shared code, managing projects, and building software capabilities. The GitHub Luckchemy account is available at https://github.com/Luckchemy/Luckchemy

Disclaimer of Liability

  • 1. The User is aware of the fact that gambling on the Website may lead to losing money. Luckchemy is not liable for any possible financial damage arising from the use of the Website.
  • 2. Luckchemy is taking effective measures to protect User’s private data from any unauthorized use and is only making it available to third parties involved in providing gambling services through the Website. Notwithstanding this, Luckchemy is not responsible for how the information is further treated by third parties, for example third party software providers or their affiliates. Treatment of User’s private data by such parties is subject to the agreement of these parties, if any.
  • 3. Luckchemy is in no way responsible for any access to a User’s Account by a third party and will not be held responsible for any loss suffered due to the illicit use of a User's password by a third party, of unauthorized access, and/or for any transaction in which the name and password of a User was registered correctly.
  • 4. Luckchemy is not liable for any hardware or software defects, unstable or lost Internet connections, or any other technical errors that may limit User’s access to the Website or prevent User from an uninterrupted play on the Website.
  • 5. Some circumstances may arise where a wager is confirmed, or a payment is performed, by us in error. In all such cases Luckchemy reserves the right to cancel all wagers accepted containing such an error, or to correct the mistake made re-settling all the wagers at the correct prices/spreads/terms that should have been available at the time that the wager was placed in the absence of the error.
  • 6. If we mistakenly credit your Account with winnings that do not belong to you, whether due to a technical, error in the pay-tables, or human error or otherwise, the amount will remain our property and will be deducted from your Account. If you have withdrawn funds that do not belong to you prior to us becoming aware of the error, the mistakenly paid amount will (without prejudice to other remedies and actions that may be available at law) constitute a debt owed by you to us. In the event of an incorrect crediting, you are obliged to notify us immediately by email.
  • 7. Luckchemy, its directors, employees, partners and service providers:
    • a) do not warrant that the software or the Website is/are fit for their purposes;
    • b) do not warrant that the software and Website are free from errors;
    • c) do not warrant that the Website and/or Games will be accessible without interruptions;
    • d) shall not be liable for any loss, costs, expenses or damages, whether direct, indirect, special, consequential, incidental or otherwise, arising in relation to Your use of the Website or Your participation in the Games.
  • 8. You hereby agree to fully indemnify and hold harmless Luckchemy, its directors, employees, partners, and service providers for any cost, expense, loss, damages, claims and liabilities howsoever caused that may arise in relation to your use of the Website or participation in and of the Games.
  • 9. You acknowledge that Luckchemy shall be the final decision-maker of whether you have violated Luckchemy’s rules and terms or conditions in a manner that results in your suspension or permanent barring from participation in our Website.
  • 10. The Website can only be used for personal purposes and shall not be used for any type of commercial profit.

VII. Use of User’s Account

  • 1. Each User can create only one personal user Account. Creating multiple user Accounts (Duplicate Accounts”) by a User can lead to termination of the Accounts. The User shall not provide access to his/her User Account or allow using the website to any third party including but not limited to minors.
  • 2. Also any returns, winnings or bonuses which you have gained or accrued during such time as the Duplicate Account was active will be forfeited by you and may be reclaimed by us, and you will return to us on demand any such funds which have been withdrawn from the Duplicate Account.
  • 3. The website can only be used for personal purposes and shall not be used for any type of commercial profit.

VIII. Responsible Gaming

  • 1. Luckchemy wants to ensure that its Users gamble in a responsible manner, but we also acknowledge that gambling can be addictive to some and affect their lives negatively. Since we care for our Users, and want online gaming to be an enjoyable experience, we offer various measures which can be taken by a User to gamble in a responsible manner.
  • 2. For those customers who wish to restrict their gambling, we provide voluntary self-exclusion tools, which enable you to close your Account or restrict your ability to place bets. If you require any information relating to this facility, please contact Customer Service by email at [email protected] We will endeavor to implement your request within a reasonable time period and to ensure compliance with your self-exclusion restriction. However, you accept that we have no responsibility or liability whatsoever if you continue gambling before your request has been implemented or you seek to use the Website and we fail to recognize or determine that fact. You acknowledge that exclusion and limits are set per account, and should you have accounts on more than one site owned by us, you must set the limits on each account.
  • 3. You may contact any of the following organizations for consultation and support if you think that you have started spending more money than you can afford, or in case gaming starts interfering with your normal daily routines:

IX. Anti-Fraud Policy

  • 1. Luckchemy has a strict anti-fraud policy. If the User is suspected of fraudulent actions including, but not limited to:
    • a) participating in any type of collusion with other Users;
    • b) development of strategies aimed at gaining of unfair winnings;
    • c) fraudulent actions against other online Luckchemy websites or payment providers;
    • d) chargeback transactions;
    • e) creating two or more Accounts;
    • f) other types of cheating; or
    • g) becoming a bankrupt in the country of his/her residence,

Luckchemy reserves the right to terminate the User Account and suspend all payouts to the User. This decision is at sole discretion of Luckchemy and the User will not be notified or informed about the reasons of such actions. Luckchemy also reserves the right to inform the regulatory bodies of such fraudulent actions performed by the User.

X. Advantage play zero tolerance

  • 1. Luckchemy has zero tolerance for unfair advantage play. Any User who tries to gain an unfair advantage of Luckchemy welcome offers or other promotions agrees that Luckchemy reserves the right to void bonuses and any winnings from such bonuses for User:
    • a) use of stolen cards or cryptocurrency wallets;
    • b) chargebacks;
    • c) creating more than one account in order to get advantage from Luckchemy promotions;
    • d) providing incorrect registration data; and
    • e) other actions which may damage Luckchemy or the Luckchemy Platform.
  • 2. Luckchemy reserves the right to close your Account and to refund to you the Account balance, subject to the deduction of relevant withdrawal charges, at Luckchemy’s absolute discretion and without any obligation to state a reason or give prior notice.
  • 3. Luckchemy reserves the right to retain payments, if suspicion or evidence exists of manipulation of the Luckchemy system. Criminal charges will be brought against any user or any other person(s), who has/have manipulated the Luckchemy system or attempted to do so. The Luckchemy reserves the right to terminate and/or change any games or events being offered on the Website.
  • 4. Should the User become aware of possible errors or incompleteness in the software, he/she agrees to refrain from taking advantage of any such errors or code incompletenesses. Moreover, the User agrees to report any error or incompleteness immediately to Luckchemy. Should the User fail to fulfil the obligations stated in this clause, Luckchemy has a right to full compensation for all costs related to the error or incompleteness, including any costs incurred in association with the respective error/incompleteness and the failed notification by the User.
  • 5. Also any returns, deposits, winnings or bonuses which you have gained or accrued during such time as the Duplicate Account was active will be forfeited by you and may be reclaimed by us, and you will return to us on demand any such funds which have been withdrawn from the Duplicate Account.

XI. Depositing

  • 1. Luckchemy offers Ethereum (ETH) as a payment method. We also further plan to include other supported cryptocurrencies. Please contact our support team at [email protected] to inquire about the payment methods which are most favorable for your country of residence.
  • 2. Please note that the minimal amount of deposit is 0.1 ETH.

XII. Withdrawal/Refund Policy

  • 1. To withdraw funds, we require complete verification of your account with all required documentation. The minimal amount for withdrawal is equivalent to 0.1 ETH. The maximum amount for withdrawal depends on the payment method you decide to use. If the requested amount of withdrawal exceeds the limit of a particular payment system, the amount will be withdrawn in installments.
  • 2. There is a 0.01 ETH fee for withdrawals that is due to blockchain fees and transaction fees inside the Luckchemy Platform.
  • 3. Luckchemy reserves the right to check User’s identity prior to processing payouts and to hold withdrawals for the time needed to check the User’s identity. In case of false personal data provided by a User, the withdrawal can be refused and the User Account can be terminated. The User will be informed thereof by email.
  • 4. The Website supports payouts in ETH.
  • 5. Please keep in mind that the internal operating currency of the Website is the LUK Token.
  • 6. Cryptocurrency withdrawals will be made to your cryptocurrency wallet submitted at your Account. To withdraw any cryptocurrency assets which have been deposited, we require the blockchain to give at minimum three (3) confirmation of your last deposit, before a withdrawal can be made.
  • 7. Users using no deposit bonuses for the game cannot participate in promotions and Luckchemy tournaments.

XIII. Dormant Accounts

  • 1. A Dormant Account is a User Account which a User has not logged into or logged out of for twelve consecutive months. If your User Account is deemed to be inactive, Luckchemy reserves the right to charge a monthly administrative fee in the amount of 0.05 ETH or the equivalent in LUK Tokens, or other supported cryptocurrency as long as the balance of your User Account remains positive.
  • 2. You authorize Luckchemy to debit this fee from your User Account at the beginning of the month following the day on which your User Account is deemed inactive, and on the beginning of every subsequent month that your User Account remains inactive. Luckchemy will stop deducting the fee if the account balance is zero or if the account is re-activated.

XIV. Referral program for LUK token sale

  • 1. For the purpose of attracting new Users, Luckchemy introduces a referral program (hereinafter, the “Program”). The Program provides Users with the opportunity to refer other individuals to join the Luckchemy Platform as new Users.
  • 2. To be eligible to participate in the Program as a referrer (a “Referrer”), a User must be registered on the Luckchemy Website and verify his/her crypto wallet. Under the Program, the system provides a User with a unique refer code (the “Referral Code”) and referral link that can be distributed to other individuals to become “Referred Users”. Referrers are provided with a personal “Refer-a-Friend” page (https://luckchemy.com/profile/referral) to check the status of his/her Referred Users and to manage his/her rewards.
  • 3. In order for a new User to be registered as a Referred User in the system, he/she must visit the Website using a referral link and create an account within the 72 hours after referral. Cookies must be enabled on the computer of a new User.
  • 4. After a Referred User creates an account on the Website and confirms his/her crypto wallet, the Referrer will receive 5% of the LUK Tokens purchased by his/her Referred Users during the LUK token sale (“Referral Rewards”). For avoidance of any doubt, Referral Rewards shall only be paid in LUK Tokens.
  • 5. All Program remuneration is added automatically to the Referrer’s account and can be used at his/her discretion in accordance with the present Agreement.
  • 6. When distributing, promoting or communicating their Referral Code(s), Users must agree to the following restrictions:
    • a) No spamming. Users agree that they will not “spam” anyone with invitations to join the Luckchemy system, and that at all times they will remain compliant with all applicable laws. The following specific activities are prohibited:
      • Mass emailing, texting or messaging people they do not personally know;
      • Use of automated systems or bots through any channel to distribute, post or respond to their Referral Code;
      • Use of scripts, programed or automatic dialers to send invites or to communicate Referral Codes; and
      • Posting referral codes on event or venue pages without express permission from the such pages’ owners.
    • b) No misrepresentations. Users agree they you will not attempt to mislead anyone in connection with the Program, either by affirmative representation, implication, or omission. In particular, they agree that they will not:
      • Impersonate any person or entity;
      • Create fake accounts, blogs, webpages, profiles, websites, links or messages;
      • Misrepresent their relationship with Luckchemy or any other third party;
      • Suggest that an affiliation or partnership exists with a third party where none exists and
      • Make misrepresentations with respect to the characteristics or qualification requirements for any referral rewards.
    • c) No prohibited content. Users agree that they will not use the Luckchemy brand in connection with:
      • Disparaging or defamatory content concerning Luckchemy or third parties;
      • Content which promotes racism, bigotry, hatred, discrimination or physical harm of any kind against any group or individual;
      • Offensive, abusive, intimidating or harassing content;
      • Content that is sexually explicit, obscene and/or contains nudity;
      • Any political and/or religious statement;
      • Content containing images or reference to drugs, alcohol, tobacco, weapons or firearms; and
      • Content that violates someone else’s privacy.
    • d) Other restrictions. Users also agree that they will not:
      • Open accounts with their affiliate links and with a single IP address;
      • Create websites, domains, URLs, social media handles or email addresses containing the word “Luckchemy”; or
      • Engage in fraudulent activity.
      Users agree that they and their referrals will not defraud or abuse (or attempt to defraud or abuse) Luckchemy, the terms of the Luckchemy Program, or any invited users.
  • 7. The Luckchemy system reserves the right to disqualify any Referred User and/or cancel any Referral Rewards it finds to be in violation of this Agreement. Referrals generated by a script, macro or other automated means will be disqualified.

XV. Complaints

  • 1. You may contact our [email protected] customer service according to the instructions located at the Website to give us any complaints regarding our services.
  • 2. Complaints are handled in the support department and escalated in the Luckchemy organization in the case that support personnel do not resolve the case immediately. The User shall be informed about the state of the complaint to a reasonable level.
  • 3. If the dispute is not resolved on the Luckchemy management level, you can contact any independent body, gaming authority or licensor listed on the Luckchemy Website.
  • 4. In the event of any dispute, you agree that the records of the Luckchemy server and blockchain shall act as the final authority in determining the outcome of any claim.
  • 5. You agree that in the unlikely event of a disagreement between the result that appears on your screen and the game server, the result that appears on the game server and in blockchain will prevail, and you acknowledge and agree that our records will be the final authority in determining the terms and circumstances of your participation in the relevant online gaming activity and the results of this participation.
  • 6. When we wish to contact you regarding such a dispute, we will do so by using any of your contact details in your User account.
  • 7. The User waives the right to participate in a class action lawsuit or a class wide arbitration against any entity or individual involved with the creation of Tickets on the Luckchemy Platform.

XVI. Notification about risks

  • 1. The User understands and accepts the risks in connection with transferring ETH or other applicable cryptocurrency to the Luckchemy Platform and creating Ticket as exemplary set forth above and hereinafter. In particular, although not limited to the lists set forth below, the User understands the inherent risks including those listed hereinafter:
    • a) Risk of software weaknesses: The User understands and accepts (i) that the blockchain system concept, the underlying software application and software platform is still in an early development stage and unproven, (ii) why there is no warranty that the process for creating tickets will be uninterrupted or error-free and (iii) why there is an inherent risk that the Luckchemy software could contain weaknesses, vulnerabilities or bugs causing, inter alia, the complete loss of LUK Tokens, ETH or other applicable cryptocurrency.
    • b) Regulatory risk: The User understands and accepts that the blockchain technology allows new forms of interaction and that it is possible that certain jurisdictions will apply existing regulations on, or introduce new regulations addressing, blockchain technology based applications, which may be contrary to the current setup of the system and which may, inter alia, result in substantial modifications of the Services, including its termination and the loss of LUK Tokens, ETH or other applicable cryptocurrency or tickets for the User.
    • c) Risk of Loss of private key: LUK Tokens, ETH or any other applicable cryptocurrency in your account wallet can only be accessed with a wallet seed or combination of private key and password. The private key is encrypted with a password. The User understands and accepts that if his/her wallet file or password, or his/her private key become lost or stolen, the obtained LUK tokens, ETH or other applicable cryptocurrency associated with the User’s Wallet or password will be unrecoverable and will be permanently lost with the wallet seed.
    • d) Risk of theft: The User understands and accepts that the Luckchemy Services concept, the underlying software application and software platform may be exposed to attacks by hackers or other individuals that that could result in theft or loss of LUK Tokens, ETH or other applicable cryptocurrency or tickets, impacting the ability to develop the Services.
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