Shack Token Terms

1. Who we are

1.1 The Shack Token is issued by the Shack Association ("Association", "we", "us"), a non-profit association (Verein) under Swiss law, registered in Zug, Switzerland, UID CHE-268.469.664, Untere Roostmatt 8, 6300 Zug, Switzerland. According to the commercial register of the Canton of Zug, the Association's purpose is: "The purpose of the association is to promote a responsible community and to raise society's awareness of the reuse of goods. In particular, the association is committed to creating awareness of a sustainable use of resources and to counteracting the throwaway mentality. To this end, the association promotes community-based, decentralised forms of trade in the sense of "Decentralized Commerce" (de-commerce). The association does not seek profit." (unofficial translation; the German entry is authoritative)

1.2 The Association's role in relation to $SHACK is limited to creating and issuing the token and to fostering the Shack community, for example through social media channels.

1.3 Shack AG (UID CHE-310.197.650) operates the Shack app and the Shack marketplace. Shack AG does not issue, sell, buy, market, operate or manage $SHACK. Shack AG is not a party to these Terms, and you have no rights or claims against Shack AG in connection with $SHACK.

1.4 The Association does not operate the Shack app or the Shack marketplace and has no influence on how they are run.

1.5 The Shack app may show an information screen about $SHACK with public market data from third-party sources and links to third-party wallets. This screen is for information only. It is not an offer, a recommendation or a solicitation to acquire $SHACK. The app does not show it to users under 18 or in countries where it is restricted.

1.6 Shack Coins, the in-app credits used to unlock features in the Shack app, have nothing to do with $SHACK. You cannot use $SHACK to pay for or unlock anything in the Shack app, and you cannot exchange Shack Coins for $SHACK or the other way round.

2. Scope and acceptance

2.1 These Terms apply when you visit the token pages on shack.xyz or other pages and channels run by the Association, when you acquire, hold, transfer or otherwise deal with $SHACK, or when you receive $SHACK from the Association, for example through a free distribution.

2.2 By doing any of the above, you confirm that you have read, understood and accepted these Terms.

2.3 The current version is published at shack.xyz/shackToken/terms/. These Terms are not accepted inside the Shack app.

2.4 Sections 3, 4, 5 and 9 describe facts about $SHACK and its risks. They are disclosures to you, not promises that you make to us, and they do not limit any right you have under mandatory law.

3. What $SHACK is

3.1 $SHACK is a meme token. It is a form of cultural and community expression. People may hold it to show that they feel part of the Shack community and its humour, art and characters, such as Shack the Hammerhead.

3.2 Technical facts:

3.3 Any token with a different mint address is not $SHACK, even if it uses the same name, ticker, logo or artwork.

4. What $SHACK is not

4.1 $SHACK has no utility and no function. In particular:

• No payment function. $SHACK cannot be used to pay for goods or services in the Shack app, with the Association or with anyone else on our behalf.
• No access. $SHACK gives no access to any product, service, feature, discount, membership or content, in the Shack app or anywhere else.
• No governance. $SHACK gives no voting rights and no say in the Association, Shack AG or any other entity. There is no DAO and no treasury controlled by holders.
• No claims. $SHACK gives no right or claim against the Association, Shack AG or anyone else. This includes no right to dividends, interest, profit share, revenue share, fees, redemption, repurchase, refunds, assets or a share in any company or project.
• No membership. Holding $SHACK does not make you a member of the Association.
• No roadmap. There is no roadmap and no plan to add utility, functions or rights to $SHACK. Nobody promises any future development of $SHACK.

4.2 $SHACK is not an investment. It is not a security, a financial instrument, a share, a bond, a derivative, a deposit, a collective investment scheme, an e-money token or a stablecoin.

4.3 You should have no expectation of profit when you acquire $SHACK. $SHACK has no intrinsic value. Its market value, if any, depends only on what other people are willing to pay for it at any given moment. That value can fall to zero.

4.4 The Association may provide liquidity to, or withdraw liquidity from, trading venues for its own purposes. It does not undertake to support or stabilise the price of $SHACK. Nobody acts on your behalf or manages anything for you as a holder.

4.5 Do not acquire $SHACK if you expect any return, benefit or function from it.

5. No offer, no advice

5.1 Nothing published by the Association, Shack AG or anyone connected to them is an offer to sell, a solicitation of an offer to buy, or a recommendation to acquire, hold or dispose of $SHACK or any other crypto-asset.

5.2 Nothing we publish is financial, investment, legal, tax or accounting advice. Ask your own independent advisers before you make any decision.

5.3 The Association does not provide financial services. It does not hold or manage crypto-assets for others, does not exchange crypto-assets for others and does not operate a trading venue.

5.4 Statements by members of the Association, by employees or officers of Shack AG, by community members, by influencers or by anyone else are not statements of the Association unless they are published through our official channels (section 15). Even then, they are never a promise about $SHACK or its market value.

5.5 Anyone who tells you that $SHACK will gain value, pay returns, reach a milestone, get listed somewhere or receive new functions is not speaking for us. Please report such statements to us.

5.6 No forward-looking promises. Anything we say about plans, the community or the future reflects our view at that time. It can change without notice, and you must not rely on it.

5.7 No fiduciary duties. The Association owes you no fiduciary or advisory duties. Our duties to you are only those set out in these Terms and in mandatory law.

6. Eligibility and restricted persons

6.1 You may only acquire, hold or transfer $SHACK if you are at least 18 years old, have reached the age of majority where you live, and have full legal capacity to accept these Terms.

6.2 You must not acquire $SHACK or use our token pages and channels if any of the following applies to you ("Restricted Person"):

• you are, or are owned or controlled by, a person or entity subject to sanctions of Switzerland, the European Union, the United States or the United Nations;
• you are located or resident in, or organised under the laws of, a country or region subject to comprehensive sanctions or embargoes of any of them; or
• you act on behalf of a Restricted Person.

6.3 The Association does not direct any communication about $SHACK to the persons and places listed above.

6.4 You are responsible for checking and complying with the laws that apply to you, including laws on crypto-assets, financial promotions, anti-money laundering, sanctions and taxes. Do not use a VPN or other means to hide your location to get around these restrictions.

6.5 We may block access to our pages, channels or any distribution from us if we believe that you are a Restricted Person or that you have broken these Terms.

7. Your confirmations

Each time you acquire or receive $SHACK, you confirm that:

• you meet the conditions in section 6 and are not a Restricted Person;
• you act on your own account and not for anyone else;
• the funds or assets you use come from lawful sources and are not connected to money laundering, terrorist financing or sanctions evasion;
• you have not relied on any statement by the Association, Shack AG or anyone else other than these Terms, and you understand the risks in section 9.

8. How $SHACK is transferred, wallets and keys

8.1 $SHACK exists only on the Solana blockchain. Transfers and exchanges happen on third-party wallets, decentralised exchanges, aggregators, liquidity pools and other venues. The Association does not operate, control or endorse any of them. Their own terms, fees and risks apply. The Association is not a party to your transactions.

8.2 Links. Our pages and the Shack app may link to third-party websites and apps. We do not control them and are not responsible for their content, availability or security.

8.3 All blockchain transactions are final. They cannot be reversed, cancelled or refunded by the Association or by anyone else. If you send $SHACK or other crypto-assets to the wrong address, they are lost. Network fees are set by the blockchain and the venues, not by us.

8.4 The Association does not promise that $SHACK can be traded on any venue, at any time or at any price. Venues may stop supporting $SHACK without notice.

8.5 The Association never holds your $SHACK, your crypto-assets or your private keys. You are fully responsible for your wallet, private keys and recovery phrase. If you lose them or someone else gets access, you may lose your $SHACK for good, and we cannot help you recover it.

8.6 We will never ask you for your private key or recovery phrase. We will never ask you to send us crypto-assets, and we will never offer to "double", "verify" or "unlock" your tokens. Anyone who does so is a scammer.

9. Risks

Acquiring and holding $SHACK involves significant risks. Only acquire $SHACK with money you can afford to lose completely. The risks include:

9.1 Total loss. You may lose everything you spent to acquire $SHACK.

9.2 Volatility. The market value of meme tokens can change very quickly and by large amounts, including within minutes. Prices can be moved by single large holders, bots, social media and events unrelated to the Shack community.

9.3 Liquidity. There may be no one willing to take your $SHACK at any price. Liquidity pools can be small, can be withdrawn (also by the Association, section 10) and can be affected by price impact and slippage.

9.4 Blockchain risks. The Solana blockchain, the SPL token program, wallets and venues can contain errors, be attacked, be congested, fork, stop working or change their rules. This can delay, block or invalidate transactions or cause loss.

9.5 Wallet and key risks. Lost keys, phishing, malware, malicious signing requests, fake wallet apps and human error can lead to permanent loss.

9.6 Impostor tokens and scams. Many tokens copy the name, ticker and artwork of popular tokens. Only the token with the official mint address in section 3.2 is $SHACK. Always check the mint address. Do not trust links in direct messages, comments or ads.

9.7 Concentration. A large share of the supply may be held by a few wallets, including the Association (section 10). Sales or transfers by large holders can strongly affect the market value.

9.8 Regulatory change. The legal treatment of crypto-assets differs between countries and can change at any time. New laws or regulatory action may restrict or prohibit acquiring, holding, transferring or promoting $SHACK, or certain venues. The Association may have to take steps that affect $SHACK or the community.

9.9 Taxes. Dealing in $SHACK can have tax consequences. You are solely responsible for determining, reporting and paying them.

9.10 No protection schemes. $SHACK is not covered by any deposit guarantee or investor compensation scheme. No authority has reviewed or approved $SHACK or these Terms.

9.11 Community and reputation. The Shack community, its channels and its brand may change, shrink or stop existing. The Association may dissolve.

10. Tokens held by the Association

10.1 The Association holds a part of the $SHACK supply.

10.2 The Association may at any time hold, keep locked, transfer, sell, distribute free of charge, provide to liquidity pools, withdraw from liquidity pools or burn tokens it holds, without notice to holders. Such actions may affect the market value of $SHACK.

10.3 Holders have no claim to any fees, proceeds or assets of the Association, and no say in how the Association uses them.

11. Disclaimer

11.1 $SHACK, our pages, channels and all information we publish are provided "as is" and "as available". As far as the law allows, we give no warranties of any kind, including about the accuracy, completeness or availability of information, the functioning of the blockchain or any venue, or the market value or tradability of $SHACK.

11.2 Market data such as prices, charts, holder numbers and trades on our pages or in the Shack app come from third parties. They may be wrong, delayed or incomplete and are shown for information only.

12. Liability

12.1 We are fully liable for damage caused intentionally or by gross negligence, for injury to life, body or health, and wherever the law does not allow a limitation.

12.2 In all other cases, and as far as the law allows, we are not liable for damage caused by slight negligence of us or of our auxiliary persons.

12.3 Third-party venues. We are not liable for losses caused by third-party wallets, venues, liquidity pools, market data sources or the blockchain, which we do not control. As far as the law allows, you release the Association from claims for such losses.

12.4 If you are a consumer, the mandatory consumer protection rules of your country of residence prevail over this section 12. In the EU, for slight negligence we are liable for breach of essential obligations, limited to the typical and foreseeable damage.

12.5 Board members, members and employees of the Association, and Shack AG and its officers and employees, may rely on this section 12 to the same extent as the Association.

13. Indemnity

If a third party makes a claim against the Association or Shack AG because you culpably broke these Terms or the law, or infringed the rights of others in connection with $SHACK, you must compensate them for the resulting damage and reasonable costs of legal defence, as far as the law allows. We will inform you of the claim promptly and give you the chance to comment.

14. Governing law and disputes

14.1 These Terms and all disputes in connection with them or with $SHACK are governed by Swiss law, excluding the UN Convention on Contracts for the International Sale of Goods (CISG), unless the law of your country of residence applies mandatorily.

14.2 The courts at the seat of the Association in Zug, Switzerland have jurisdiction.

14.3 If you are a consumer, the mandatory consumer protection rules of the country where you have your habitual residence remain applicable, and you may also sue in the courts of that country where the law gives you that right.

15. Contact and official channels

Official channels: shack.xyz/shackToken, x.com/shackxyz, instagram.com/shackxyz and t.me/shacktokenofficial. Information from any other source is not from the Association.

16. Changes to these Terms

16.1 We may change these Terms, for example to reflect changes in law, in the regulatory treatment of crypto-assets or in how we work. We publish each new version with a new version number and effective date at shack.xyz/shackToken/terms/. Earlier versions remain available at shack.xyz/shackToken/terms/v[number]/.

16.2 A new version applies from its effective date to any use of our pages and channels and any dealing with $SHACK after that date. If you do not agree with a new version, stop using our pages and channels and do not acquire further $SHACK.

17. Final provisions

17.1 If any part of these Terms is invalid or unenforceable, the rest remains in force. As far as the law allows, the invalid part is replaced by a valid provision that comes closest to its purpose.

17.2 If we do not enforce a right under these Terms, this does not mean we waive it.

17.3 You may not transfer your rights or obligations under these Terms without our consent. The Association may transfer its rights and obligations to a successor organisation.

17.4 These Terms are written in English. Translations are for convenience only. If there is a conflict, the English version prevails.

17.5 The Association does not process personal data under these Terms; you can reach it at crew@shack.xyz.