Terms and Conditions

TERMS OF SERVICE Updated 12 Jan 2022 These are the terms of service for https://shockwavai.com (the “Site”). Your acceptance of these terms of service creates a legally binding agreement (the “Agreement”) between you (the “User”) and shockwavai, Inc. (“shockwavai”). shockwavai provides this Site to host a global artificial intelligence tournament for stock market predictions (the “Tournament”) and to provide a service (“shockwavai Signals”) for the assessment of user-submitted stock market predictive models (“Signals”). Use of the Site is free. shockwavai reserves the right to amend this Agreement at any time, and to require acceptance of any amendment as a condition for continued use of the Site. You represent and warrant that you are legally qualified to use this Site, are not breaking any applicable law, are not a Specially Designated National (SDN) or Blocked Person as defined by the US Department of Treasury, and do not work for any governments under international legal sanction. You may enter a submission in the Tournament and submit Signals and other submission documentation (collectively, the “Submission”) under a personal or corporate name (your “Name”). By entering a Submission to shockwavai or Signals, each User represents and warrants that: (a) the Submission does not violate or infringe any copyright, trademark/tradename, or other proprietary right of any person (including but not limited to rights of privacy) or entity; (b) the Submission either is the sole and exclusive property of the User or User owns or otherwise controls all of the rights to the Submission. Please do not submit Submissions that contain third party intellectual property, know-how or other ideas or submit concepts or depictions of third party artistic works, copyrights, trademarks/tradenames, logos, or similar brand identifying marks. All such Submissions will be disqualified. By entering, each User further warrants and represents that the User has the authority to enter the Submission on behalf of any entity for which it enters the Submission, that the Submission has not been previously licensed or transferred, and that User unconditionally assigns and transfers to shockwavai all worldwide rights, title, interest and claim, which User now has or may in the future have to their Submission or any element(s) thereof including, but not limited to, all intellectual property rights and each User hereby waives all rights User has or may have in their Submission or any element(s) thereof. Uploading a Submission grants shockwavai the right to use, publish, adapt, edit and/or modify such Submission in any way, in whole or in part, and to use such Submission alone or in combination with other works or data, as solely determined by shockwavai, in commerce and trade and in any and all media now known or hereafter discovered, worldwide, including but not limited to the Site, without limitation or compensation to the User or any third party and without right of notice, review or approval of any such use of the entry. Uploading a Submission further constitutes the User's consent to irrevocably assign and transfer to shockwavai any and all worldwide rights, title and interest in and to the Submission, including but not limited to all intellectual property rights. Each instance of the Tournament has a “Deadline”. A “Timer” will be displayed on the Site’s “Leaderboard” counting down to the current Deadline. You may download datasets that shockwavai has encrypted with structure-preserving encryption techniques (the “Data”). The form of the Data is numeric and abstract, and does not look like stock market information. You may use any instance of a “Training Dataset” to train your machine learning algorithm. You may use any instance of a “Tournament Dataset” to generate probability estimates or “Predictions”, which you may submit as a “Prediction Upload” in the required file format. shockwavai may analyze your Predictions on dimensions such as accuracy or other data science metrics chosen at shockwavai’s sole discretion. shockwavai reserves the right to display your Name on the Site’s “Leaderboard”, together with your rank and competitive metrics. shockwavai does not guarantee the accuracy of any rank or metric. shockwavai reserves the right to provide monetary prizes for submitted Predictions that it deems outstanding in performance or other data science metrics, on terms that it may announce and change from time to time, in US dollars or Ether. The Leaderboard will change frequently as new predictions are uploaded by users before any instance of the Deadline, and the prospective payouts will change too. You may submit Signals in the required file format to assess your Signals on the shockwavai Signals platform. You may “stake” SAI for the opportunity to receive “payouts” of SAI or “burn” (lose) SAI on the shockwavai Signals platform. shockwavai may analyze your Signals on data science metrics chosen at shockwavai’s sole discretion, and will determine payouts and losses at its sole discretion, on terms and according to metrics that it may announce, in part or in whole, and change from time to time. shockwavai will not disclose the metrics that form the basis of its determination to reward payouts or apply losses. You are responsible for calculating, reporting, and paying any taxes resulting from participation in the Tournament or Signals, under the laws of your jurisdiction. shockwavai and its affiliates do not provide tax, legal or accounting advice. You should consult your own tax, legal, and accounting advisors before engaging in any transaction. You are responsible for maintaining the accuracy of your contact information. You may not transfer your User account on this Site to any third party. shockwavai may suspend or terminate your use of the Site at its sole discretion at any time. You may terminate your User account at any time by email to support@shockwavai.com. shockwavai expressly disclaims any warranties, including for merchantability or fitness for any purpose. The User is solely responsible for any damage to User’s equipment, software, information, or other harms that may result through use of the Site. shockwavai will not be liable for any damages arising out of the User’s use of the Site. The User indemnifies and holds harmless shockwavai from all claims and Losses arising out of the User’s use of the Site. Your acceptance of this Agreement explicitly acknowledges that shockwavai has the Intellectual Property Rights to this Site, and grants you only a limited license to use the Site in accordance with the terms of this Agreement as it may be amended from time to time. This includes all user interfaces, graphics, look and feel, workflow, business model, techniques for data preparation, encryption, distribution, and submittal, and Tournament and shockwavai Signals procedures. Any dispute arising under this Agreement shall be finally settled in binding arbitration, on an individual basis, in accordance with the American Arbitration Association's rules. The arbitration shall take place in San Francisco, California. You and shockwavai expressly waive the right to a trial by jury or to participate in a class action or class-wide arbitration. The prevailing party in any action or proceeding to enforce this agreement shall be entitled to costs and attorneys' fees. This Agreement is the entire agreement between you and shockwavai. This Agreement may only be modified in writing signed electronically by both parties. If any part of this Agreement is invalid or unenforceable, the remainder of this Agreement shall remain in effect. This Agreement is subject of the laws of the state of California. Any notice by you to shockwavai shall be by email to support@shockwavai.com or through the Contact Us section of the Site. shockwavai may suspend or terminate your account's eligibility for airdrops at its sole discretion at any time. You understand and agree that shockwavai shall not be liable and disclaims all liability to you in connection with any force majeure event, including acts of God, labor disputes or other industrial disturbances, electrical, telecommunications, hardware, software or other utility failures, software or smart contract bugs or weaknesses, earthquakes, storms, or other nature-related events, blockages, embargoes, riots, acts or orders of government, any action or inaction taken by shockwavai in order to comply with any law, regulation or government order, acts of terrorism or war, technological change, changes in interest rates or other monetary conditions, and, for the avoidance of doubt, changes to any blockchain-related protocol. You acknowledge and understand that if the SAI tokens are a deemed “security” under the Securities Act of 1933 (the “Act”), they must be held indefinitely unless the tokens are subsequently registered under the Act or an exemption from such registration is available. You further acknowledge and understand that shockwavai is under no obligation to register the tokens. You understand and agree that shockwavai may (i) retain the tokens in escrow (or in a segregated location or on a segregated storage device) for so long as the tokens are subject to restrictions on resale under the Act (including Rule 144 promulgated thereunder) or (ii) otherwise take such actions as are necessary, in its reasonable discretion, to comply with applicable securities laws with respect to any tokens acquired hereunder, which actions may include physical and/or electronic security measures, such as smart contracts, lock-ups or similar devices. You acknowledge that you are familiar with the provisions of Rule 144 under the Act, as in effect from time to time, which in substance, permit limited public resale of “restricted securities” acquired, directly or indirectly, from the issuer thereof (or from an affiliate of such issuer), in a non-public offering subject to the satisfaction of certain conditions. You acknowledge and agree that the tokens acquired hereunder could and may constitute “restricted securities” under Rule 144. You understand and agree that staking a Signal does not (i) establish an investment contract between you and shockwavai, (ii) establish a “swap” or a “security-based swap” as those terms are used in the Act, the Securities Exchange Act of 1934, and the Commodity Exchange Act, (iii) grant you any direct or indirect interest in any security or commodity interest, or in the performance thereof, or (iv) grant you any direct or indirect interest in any management fee or other compensation paid to shockwavai or any affiliate for the provision of investment advice to any person. shockwavaire, or “SAI”, is a cryptographic token used by data scientists who participate in shockwavai’s tournaments. Data scientists may be awarded SAI based on their performance in tournaments, and may receive “payouts” of SAI or “burn” (lose) SAI from staking Signals. Data scientists can then stake their SAI to enter additional tournaments or stake additional Signals. For a more complete description of SAI, please refer to the whitepaper. Please be aware of these SAI facts: SAI is not a cryptocurrency. At the time of this writing, SAI (i) cannot be exchanged for goods or services, (ii) has no known uses outside shockwavai’s tournaments, and (iii) is not intended to be traded on any known exchange. shockwavai disclaims any and all responsibility, and makes no representations or warranties of any kind, including economic value, with respect to SAI acquired on any third party exchange. SAI is not an investment. SAI may be supported by exchanges from time to time. There is no guarantee – indeed there is no reason to believe – that any SAI traded on those exchanges will increase in value. It may – and probably will at some point – decrease in value. shockwavai may or may not support SAI for any particular period of time. SAI is not evidence of ownership or right to control. Controlling SAI does not grant its controller ownership or equity in shockwavai. Nor does it grant any right to participate in the direction or decision-making of shockwavai. Controlling SAI does not grant any right to distributions, payments, profits or any monetary reward beyond the tournaments. SAI is not required for, and does not permit its controller to submit predictions. Staking SAI is not required to participate in the leaderboard and is not required to participate in some tournaments. shockwavai may modify, deprecate or terminate any tournament, including any associated rewards at any time. SAI transactions are not controlled by shockwavai. shockwavai cannot recover lost or stolen SAI, or confirm or prevent SAI transactions SAI does not permit betting or advising on any commodity interest, stock, index or issuer. The tournaments and Signal staking do not permit data scientists to wager or advise on securities or markets. Data sets do not include information on any securities or markets, and payouts of SAI or Ether, including in connection with the staking of Signals, do not track the performance of any commodity interest, stock, index or issuer. SAI can be lost in tournaments and through staking Signals. Data Scientists may lose SAI by participating in Tournaments and through staking Signals. shockwavai may display estimated conversion rates between SAI and USD on the website. These conversion rates are not created by shockwavai; they are sourced from third-party sources such as CoinMarketCap which may be wrong or inaccurate. Any conversion rate is provided for information purposes only and without guarantees. SAI is based on an underlying distributed ledger. Risks associated with the distributed ledger include: Risk of Losing Access to SAI Due to Loss of Credentials: The loss or theft of any credentials, like private keys, could result in the loss of SAI. Best practices dictate that purchasers safely store credentials in one or more backup locations geographically separated from the working location. Risks Associated with the Ethereum Protocol: SAI is currently based upon the Ethereum protocol. As such, any malfunction, unintended function or unexpected functioning of the Ethereum protocol or the smart contracts in use by SAI may cause SAI to malfunction or function in an unexpected or unintended manner. More information about the Ethereum protocol is available at Ethereum.org. Risk of Unfavorable Regulatory Action in One or More Jurisdictions: Distributed ledger technologies have been the subject of scrutiny by various regulatory bodies around the world. The functioning of SAI 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 SAI. You represent and warrant that your submission to shockwavai or Signals does not contain, nor was designed based on your material non-public information that you had a duty to refrain from disclosing. Information is material to the price of a security if a reasonable investor would consider it important in making an investment decision. Information is non-public if the company has not widely disseminated it to the public. You represent and warrant that you have not passed material non-public information to shockwavai or Signals. If and when there are updates, upgrades or security issues that impact the SAI token, shockwavai will alert the community as applicable through the following channels: Newsletter subscription distribution lists https://medium.com/shockwavai/ https://twitter.com/shockwavai https://blockfolio.com/coin/SAI https://discord.gg/shockwavai (#announcements) http://t.me/SAI_Official