Loom SDK License
Use of Loom Network Inc.’s Software Developer Kit (“SDK”) is subject to all the terms in this License.
IF YOU USE LOOM’S SDK, YOU THEREBY AGREE TO THE FOLLOWING TERMS. IF YOU DO NOT AGREE TO ALL THE TERMS, INCLUDING THE DISCLAIMER OF WARRANTIES AND THE BINDING ARBITRATION CLAUSE, DO NOT USE THE SDK.
The Loom SDK is available in Beta version, with source code and limited documentation, all under further development, to be used for evaluation, non-mission-critical security testing, hackathons and non-commercial applications, and, under conditions specified below, for commercial applications.
Loom Network LLC., a Belize corporation (“Loom”), grants users (“you”) a limited license to use SDK for commercial applications under the following conditions:
- Users that hold at least 10 LOOM Tokens are permitted to reuse the software associated with the SDK in a commercial setting.
- Networks that have more than 5 nodes and/or a weighted average of more than 10 transactions per minute need to hold 100 LOOM Tokens.
- Large chains with 10-20 nodes require 1000 tokens.
- For unlimited transactions and nodes, 10,000 LOOM tokens must be held.
Users of SDK software in a commercial setting must hold the required number of LOOM Tokens in a wallet in Mainnet Ethereum, and must register those Tokens with Loom in a manner specified by Loom.
LOOM Tokens are available for purchase at https://loomx.io/purchase or on Binance, Kucoin, Upbit, and other exchanges.
Disclaimer of Warranties: LOOM EXPRESSLY DISCLAIMS ALL IMPLIED WARRANTIES RELATED TO SDK AND LOOM TOKENS, INCLUDING WITHOUT LIMITATION IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT; LOOM DOES NOT WARRANT THAT SDK OR LOOM TOKENS WILL MEET YOUR REQUIREMENTS OR NEEDS, OR THAT LOOM WILL SUCCESSFULLY REMEDY ANY BUGS OR FLAWS THAT ARE EXPERIENCED, OR THAT SDK AND LOOM TOKENS WILL BE SUCCESSFULLY DELIVERED IN A PROBLEM-FREE MANNER. Limitation of Liability: TO THE FULL EXTENT PERMISSIBLE UNDER LAW OF ANY APPLICABLE JURISDICTION, LOOM AND ITS OFFICERS, DIRECTORS AND EMPLOYEES WILL NOT BE LIABLE FOR INDIRECT, INCIDENTAL, CONSEQUENTIAL, SPECIAL, PUNITIVE OR EXEMPLARY DAMAGES OF ANY KIND (INCLUDING WITHOUT LIMITATION LOST PROFITS OR REVENUE, BUSINESS INTERRUPTION, AND LOSS OF DATA OR THE USABILITY THEREOF), RELATED TO THE OFFER OR SALE OR USE OF SDK AND LOOM TOKENS, REGARDLESS OF THE FORM OF LEGAL ACTION INVOLVED, WHETHER CONTRACT, TORT OR ANY OTHER THEORY IN LAW OR EQUITY, EVEN IF LOOM OR PARTIES ASSOCIATED WITH LOOM HAVE BEEN ADVISED THAT SUCH DAMAGES ARE POSSIBLE, AND REGARDLESS WHETHER SUCH DAMAGES WERE FORESEEABLE.
Variations in Applicable Law: Because some legal jurisdictions forbid some limitations on special damages, or do not allow software and service providers to disclaim certain warranties, some of the above disclaimers of warranties, limitations of liability and limitations of damages may not apply to you.
Title and Copyright: Loom retains title and copyright to all software and documentation associated with SDK. You may reuse SDK code for commercial applications only so long as you continue to hold the required number of LOOM Tokens as specified above. Failure to comply with this requirement is a material breach of this License.
Required Notice to be Posted by Users: In all copies or substantial portions of software derived from SDK, you shall include the following notice:
THIS SOFTWARE IS PROVIDED "AS IS", WITHOUT WARRANTY OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO THE WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NONINFRINGEMENT. IN NO EVENT SHALL THE LOOM NETWORK INC. BE LIABLE FOR ANY CLAIM, DAMAGES OR OTHER LIABILITY, WHETHER IN AN ACTION OF CONTRACT, TORT OR OTHERWISE, ARISING FROM, OUT OF OR IN CONNECTION WITH THIS SOFTWARE. RELATOR THE USE OR OTHER DEALINGS IN THE SOFTWARE.
Governing law: This agreement shall be governed by the law of Hong Kong, without regard to conflicts of law rules. Dispute resolution: Any dispute arising from or related to this Agreement, including the existence, validity, interpretation, performance, breach or termination thereof or any dispute regarding non-contractual obligations arising out of or relating to it shall be referred to and finally resolved exclusively by arbitration under the UNCITRAL Arbitration Rules in force when a notice of arbitration is first submitted by a party to this Agreement. The law of this arbitration clause shall be Hong Kong. The place of arbitration shall be Hong Kong. The number of arbitrators shall be one. The arbitration proceedings shall be conducted in English.
Copyright Loom Network Inc 2018