1. Introduction and Acceptance of Terms
These Terms of Service ("Terms") constitute a legally binding agreement between you ("User," "you") and the ETHGas Foundation, a foundation company limited by guarantee incorporated in the Cayman Islands ("Foundation," "we," "us").
These Terms govern your access to and use of the Foundation’s interface, including the Governance Portal, Airdrop Claims, and Staking Interface (collectively, the "Interface").
2. Eligibility and Geoblocking
The Interface is strictly prohibited for use by any person or entity who is a citizen, resident, or tax resident of, or incorporated in:
- The United States of America;
- Canada;
- The People's Republic of China;
- Any jurisdiction sanctioned by the Office of Foreign Assets Control (OFAC) or the Cayman Islands Monetary Authority (CIMA).
By accessing the Interface, you represent and warrant that you are not a "Prohibited Person" and are not using a VPN to conceal your location.
3. Scope of Services & Exclusions
The Foundation Interface provides access to:
- Governance: Viewing proposals and casting on-chain votes regarding the ETHGas protocol parameters.
- Network Security (Staking): Interacting with smart contracts to bond assets for cryptoeconomic security.
- Airdrop Claims: Facilitating the gratuitous transfer of governance tokens to eligible historical users.
EXCLUSION OF COMMERCIAL SERVICES
These Terms DO NOT govern the "Open Gas" partner program, the "Blockspace Trading Platform," "Inclusion Guarantees," or "Gas Rebates." These are commercial products provided via separate domains (e.g., ethgas.com) and are governed by their own commercial terms. The Foundation is not a party to any blockspace purchase or gas rebate agreement.
4. The $GWEI Token & Airdrop
- No Investment Contract: You acknowledge that the $GWEI token is a governance instrument intended to decentralize control of the ETHGas protocol. It is NOT an investment contract, security, or commodity.
- Gratuitous Transfer: Any tokens claimed via the Airdrop are a gift based on retrospective criteria. You have provided no monetary consideration to the Foundation for these tokens.
- No Expectation of Profit: The Foundation makes no representation regarding the future value of $GWEI. You acknowledge the token may have no value.
5. Staking, Lock-up, and Governance Rights
- Irreversible Lock-Up: To participate in the governance of the ETHGas Foundation and earn enhanced rewards, the User must "lock" GWEI tokens into the Protocol’s vote-escrow smart contract. This action is irreversible. The User acknowledges that they cannot withdraw, transfer, or liquidate the Principal GWEI until the selected lock-up period expires.
- No Principal Slashing: The Protocol does not employ "slashing" (forfeiture) of the Principal GWEI staked in the vote-escrow contract. The User’s Principal is protected from performance-based penalties.
- Time-Weighted Power & Yield: The User acknowledges that their Voting Power and Reward Multiplier are calculated based on the duration of their lock-up. A longer lock-up results in greater influence and potential yield, while a shorter lock-up results in less.
- Non-Transferability of Rights: The governance rights and yield boost represented by the vote-escrowed status (veGWEI) are tied to the User’s wallet address and generally cannot be transferred, sold, or hypothecated separately from the underlying account logic.
- Decay of Power: The User acknowledges that their Voting Power may decay linearly as the remaining lock-up time decreases, requiring re-locking or extending the duration to maintain the same level of influence.
6. Disclaimers and Limitation of Liability
The Interface is provided on an "AS IS" and "AS AVAILABLE" basis. To the fullest extent permitted by law, the Foundation disclaims all warranties, express or implied. We do not guarantee that the Interface will be secure, error-free, or available at all times.
You acknowledge that blockchain transactions are irreversible. The Foundation has no ability to reverse a transaction or recover lost funds.
7. Governing Law
These Terms shall be governed by and construed in accordance with the laws of the Cayman Islands. Any dispute arising out of or in connection with these Terms shall be subject to the exclusive jurisdiction of the courts of the Cayman Islands.