Polymesh Bridge Addendum

Last updated June 16, 2022


This Polymesh Wallet Addendum (the “Addendum”) contains additional terms to supplement the Polymesh Terms of Service and are to be read in conjunction with Polymesh Terms of Service (collectively, the “Polymesh Bridge Terms”, “Terms”). 

The Polymesh Bridge Terms describe the terms and conditions applicable to the Polymesh Bridge under which the Polymesh Association (“Polymesh”, “we”, “our”, “us”) provides the Polymesh Wallet to you.

To the extent that there are any conflicts between the provisions within this Addendum and the Polymesh Terms of Service, the provisions within this Addendum shall prevail unless the Polymesh Terms of Service specifically identifies the provisions herein and declares that it supersedes such provisions. Any terms used in this Addendum that are not defined herein, shall have the meaning ascribed to such terms in the Polymesh Terms of Service.

1. Acceptance of Terms

The Polymesh Bridge (“Bridge”) is a web-based software application that enables you to conduct a one-way upgrade of ERC20 POLY tokens to POLYX tokens, the native token on the Polymesh blockchain. The features, tools, materials, or other services offered from time to time by Polymesh for the Bridge are referred to here as the “Bridge Services”. Please read these Terms carefully before using the Bridge Services. By using or otherwise accessing the Bridge Services, or clicking to accept or agree to these Terms where that option is made available, you (1) accept and agree to these Polymesh Bridge Terms, (2) consent to the collection, use, disclosure and other handling of information as described in our Privacy Policy and (3) agree to any additional terms, rules and conditions of participation issued by Polymesh from time to time. If you do not agree to the Polymesh Bridge Terms, then you may not access or use the Bridge Services.

2. Modification of Terms of Use

Polymesh reserves the right, at our sole discretion, to modify or replace these Terms at any time. The most current version of these Terms will be posted on our Websites. You shall be responsible for reviewing and becoming familiar with any such modifications. Use of the Bridge Services by you after any modification to the Terms constitutes your acceptance of the Polymesh Bridge Terms as modified.

3. Eligibility

By accessing the Bridge Services, you are representing and warranting that you are of the legal age of majority in your jurisdiction as is required to access such Bridge Services and enter into arrangements as provided by the Bridge Services. You further represent that you are otherwise legally permitted to use the Bridge Services in your jurisdiction including owning cryptographic tokens of value, and interacting with the Bridge Services in any way. You further represent that you are responsible for ensuring compliance with the laws of your jurisdiction and acknowledge that Polymesh is not liable for your compliance (or non-compliance) with such laws.

4. Representations, Warranties, and Risks

a) Purposes

Your use of the Bridge Services is at your sole risk and discretion. You acknowledge and accept that the Bridge Services (i) may contain bugs, errors and defects, (ii) may function improperly or be subject to periods of downtime and unavailability, (iii) may result in total or partial loss or corruption of data; (iv) may result in partial or total inability to access or loss of any tokens in the Bridge; and (v) may be modified at any time, including through the release of subsequent versions, all with or without notice to you. The Bridge Services are available on an “as is” and “as available” basis.

You are solely responsible for providing, maintaining and ensuring compatibility with the Bridge Services, all hardware, software, electrical and other physical requirements for your use of the Bridge Services, including, without limitation, telecommunications and internet access connections and links, web browsers or other equipment, programs and services required to access and use the Bridge Services.

Polymesh reserves the right to discontinue the Bridge Services at its sole discretion at any time without any obligation to provide notice of such discontinuance to you.

b) Use and Function of the Polymesh Bridge

You acknowledge and accept that:

  1. The Bridge upgrades ERC20 POLY tokens to POLYX tokens on a 1:1 ratio, 
  2. Any such upgrades are a one-way upgrade only; once you start the process, it is not reversible (the ERC20 POLY tokens are locked and rendered unusable by being sent to one or more inaccessible addresses and cannot be unlocked or recovered), 
  3. You are responsible for confirming and ensuring the transaction details are accurate (including, but not limited to, the receiving Polymesh wallet address) before approving the bridge transaction, Polymesh will not be responsible for any transactions on the Bridge; and
  4. To use the Polymesh Bridge, you are required to have an Ethereum wallet (for the POLY token) and a Polymesh Wallet (for the POLYX token).

c) Warranty disclaimer

In addition to the warranty disclaimers in the Polymesh Terms of Service which are incorporated herein, you acknowledge that Polymesh has no control over, and no duty to take any action regarding which users gain access to or use the Bridge Services and what effects the use of the Bridge Services may have on you or what actions you may take as a result of using the Bridge Services. You release Polymesh from all liability resulting from your use of the Bridge Services. Polymesh will not be responsible or liable for the accuracy, copyright compliance, legality or decency of material contained in or accessed through the Bridge Service.

If you lose, mishandle or have stolen any tokens through the use of the Bridge Services, you acknowledge that you may not be able to recover such tokens, and that Polymesh is not responsible for such loss. 

You acknowledge that Polymesh is not responsible for any loss, damage or liability arising from your failure to comply with these Terms.

d) Sophistication and Risk of Cryptographic Systems

By utilizing the Bridge Services, you represent that you understand the inherent risks associated with cryptographic systems; and warrant that you have an understanding of the usage and intricacies of native cryptographic tokens, tokenized assets, smart contract based tokens and blockchain-based software systems.

e) Risk of Regulatory Actions in One or More Jurisdictions

Polymesh could be impacted by one or more regulatory inquiries or regulatory action, which could impede or limit the ability of Polymesh to continue to develop, or which could impede or limit your ability to access or use the Bridge Services.

f) Risk of Weakness or Exploits in the Field of Cryptocurrency

You acknowledge and understand that Cryptography is a progressing field. Advances in code cracking or technical advances such as the development of quantum computers may present risks to cryptocurrencies and Bridge Services, which could result in the theft or loss of your cryptographic tokens or property. Polymesh does not guarantee or otherwise represent full security of the system. By using the Bridge Services, you acknowledge these inherent risks.

g) Application Security

You acknowledge that the Bridge Services are software code subject to flaws and acknowledge that you are solely responsible for evaluating any code provided by the Bridge Services and the trustworthiness of any third-party websites, products, distributed ledger technology, or content you access or use through the Bridge Services. You further expressly acknowledge and represent that applications on the Polymesh protocol can be written maliciously or negligently, that Polymesh cannot be held liable for your interaction with such applications and that such applications may cause the loss of property and identity. This warning and others later provided by Polymesh in no way evidence or represent an on-going duty to alert you to all of the potential risks of utilizing the Bridge Services.

h) Forks

By using the Bridge Services, you acknowledge and agree: (i) that Polymesh is not responsible for operation of the underlying protocols and that Polymesh makes no guarantee of their functionality, security, or availability; and (ii) that the underlying protocols are subject to sudden changes in operating rule (“forks”), and that such forks may materially affect the function of the Bridge Services. In the event of a fork, you agree that Polymesh may temporarily suspend the Bridge Services (with or without notice to you) and that Polymesh may, in its sole discretion, (a) configure or reconfigure its systems or (b) decide not to support (or cease supporting) the forked protocol entirely. You acknowledge and agree that Polymesh assumes no responsibility in respect of an unsupported branch of a forked protocol.  

5. Intellectual Property

a) Our Proprietary Rights

All title, ownership and intellectual property rights in and to the Bridge Services are owned by Polymesh or its licensors. You acknowledge and agree that the Bridge Services contain proprietary and confidential information that is protected by applicable intellectual property and other laws. Except as expressly authorized by Polymesh, you agree not to copy, modify, rent, lease, loan, sell, distribute, perform, display or create derivative works based on the Bridge Services, in whole or in part.

b) Limited License
  1. We grant you a limited, non-exclusive, revocable permission to make use of the Bridge Services (collectively, “Access”). This Access shall remain in effect until and unless terminated by you or us. You promise and agree that you will not redistribute or transfer the Bridge Services.
  2. The Bridge software application, including without limitation the Bridge Services, are not sold or transferred to you, and Polymesh and its licensors retain ownership of all copies of the software applications even after installation on your personal computers, mobile handsets, tablets and/or other devices (“Devices”).
  3. All Polymesh trademarks, service marks, trade names, logos, domain names, and any other features of the Polymesh brand (“Polymesh Brand Features”) are the sole property of Polymesh or its licensors. The Terms do not grant you any rights to use any Polymesh Brand Features whether for commercial or non-commercial use.
  4. You agree to abide by our user guidelines and not to use the Bridge Services or any part thereof in any manner not expressly permitted by these Terms. Except for the rights expressly granted to you in these Terms, Polymesh grants no right, title, or interest to you in the Bridge Services.
  5. Third party software (for example, open source software libraries) included in the Bridge Services are made available to you under the relevant third party software library’s license terms.
  6. Notwithstanding anything herein to the contrary, nothing in the Terms entitles you to use, copy, fork, modify or create derivative works based on the Bridge's source code for commercial purposes without our prior explicit written consent. The Bridge Services are for noncommercial use only.

6. Links

The Bridge Services provide, or third parties may provide, links to other World Wide Web or accessible sites, applications or resources. Because Polymesh has no control over such sites, applications and resources, you acknowledge and agree that Polymesh is not responsible for the availability of such external sites, applications or resources, and does not endorse and is not responsible or liable for any content, advertising, products or other materials on or available from such sites or resources. You further acknowledge and agree that Polymesh shall not be responsible or liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with use of or reliance on any such content, goods or services available on or through any such site or resource.

7. Survival

In addition to the provisions which by law or by their nature should survive the termination of these Terms, Polymesh Terms of Service, the following provisions of this Addendum also survive any termination of these Terms: ACCOUNT PASSWORD AND SECURITY; REPRESENTATIONS, WARRANTIES AND RISKS; INTELLECTUAL PROPERTY; LINKS; SURVIVAL; and NO THIRD PARTY BENEFICIARIES.

8. No Third-Party Beneficiaries

You agree that, except as otherwise expressly provided in these Terms, there shall be no third-party beneficiaries to these Terms.