LBPT Foundation Terms of Use

1. Introduction

1. LBPT Foundation is a legal entity incorporated in Singapore. It develops and operates location-based digital platforms and issues the LBP utility token as a core payment and reward medium within those platforms.
2. LBP is designed as a utility token only. It is used for payments, rewards, and peer-to-peer ("P2P") transactions within LBPT's ecosystem (including, without limitation, WELINK and its sub-platforms such as BEFRIEND, UTUT, L.AD, TIG, and LBP PAYMENT).
3. LBP is not intended to constitute securities, shares, investment contracts, or any other regulated financial instruments.

2. Scope and Relationship with Other Documents

1. These Terms apply to:
   • Use of the LBP token within LBPT's platforms and partner services;
   • Access to LBPT-operated websites, apps, and related APIs;
   • Participation in platform reward, burning, and donation mechanisms.
2. Additional documents may apply, including:
   • Platform-specific terms (e.g., WELINK / BEFRIEND service terms);
   • Privacy Policy;
   • Location-based services terms (where applicable);
   • Community Guidelines and Platform Operation Policy.
3. In the event of conflict, specific platform terms prevail over these Terms only for that platform; these Terms continue to govern all LBP-related aspects.

3. Eligibility and Country Restrictions

1. You must:
   • Be at least 18 years old (or the age of majority in your jurisdiction, if higher); and
   • Have full legal capacity to enter into these Terms.
2. LBP is not offered to persons or entities in jurisdictions where participation in, or use of, cryptocurrencies or utility tokens is restricted or prohibited by law.
3. You are solely responsible for ensuring that acquiring, holding, or using LBP and accessing the Services does not violate any law applicable to you. LBPT may restrict or block access from certain jurisdictions at its discretion.

4. Nature of LBP and Disclaimer of Investment Status

1. LBP is a utility token used for:
   • Payments for paid features, content, and services;
   • Rewards and incentives for participation;
   • P2P transfers and in-ecosystem settlement;
   • Donations and social contribution mechanisms.
2. LBP:
   • Does not represent equity, ownership, or voting rights in LBPT;
   • Does not entitle you to dividends or profit sharing;
   • Does not constitute a deposit, loan, or investment product.
3. LBPT does not make any promises regarding the market price, liquidity, or future value of LBP.

5. Token Supply, Distribution, and Lock-Up

1. Total Supply: 500,000,000 LBP.
2. Allocation includes (indicative summary):
   • Initial platform acquisition and paid-service liquidity;
   • Ecosystem and platform reserves;
   • Participants, advisors & partners;
   • Development and operations team.
3. Certain allocations are subject to lock-up and vesting schedules and may be released gradually according to internal policies and foundation approvals.
4. LBPT reserves the right to adjust internal distribution or vesting schedules if reasonably necessary for ecosystem stability, subject to transparent disclosure where appropriate.

6. Burn (LOCK-UP) Mechanism

1. To promote long-term sustainability and value alignment, LBPT implements an automatic Burn – LOCK-UP system:
   • 1% of all paid transactions (e.g., paid services, in-app purchases, platform fees) settled in LBP within the WELINK ecosystem is automatically burned.
   • 1% of transfer fees on applicable LBP transfers within the platform may also be burned, according to smart-contract design.
2. Maximum Burn Limit:
   • Up to 50% of the total issued supply (250,000,000 LBP) may be burned through platform activity.
   • If this 50% threshold is not reached within two (2) years from the initial listing date, the remaining amount required to reach 50% may be burned from platform reserve liquidity, according to internal policies.
3. Reissue / Liquidity Support:
   • If circulating liquidity becomes excessively low, LBPT may reissue up to 0.1% of the maximum burn amount per month solely for liquidity support,
   • Any reissued tokens remain subject to the same burn rules when used in paid activities.

7. Donation Pool Mechanism

1. 0.5% of revenue generated from paid services and qualifying asset transfers within WELINK and associated platforms is automatically allocated in LBP to a Donation Pool.
2. Donation funds may be used for:
   • NGO and charitable organization partnerships;
   • Disaster relief and emergency assistance;
   • Support for vulnerable groups and local communities;
   • Support for ecosystem partners (e.g., merchants) suffering losses due to extreme price volatility.
3. Donation funds are typically disbursed on a periodic (e.g., quarterly) basis, following internal review and selection criteria. LBPT may publish summaries or reports at its discretion.

8. Reward Policy

1. A portion of the total LBP supply (e.g., 5%) may be allocated to a Reward Pool for user, partner, and content-based incentives.
2. Rewards may be granted for:
   • Submitting high-quality information or content that receives positive evaluations;
   • Viewing and interacting with advertisements;
   • Rating merchants and services;
   • Participating in partner campaigns and ecosystem activities.
3. Reward units may be dynamically adjusted based on:
   • Market conditions and the current value of LBP;
   • Remaining size of the Reward Pool;
   • Overall sustainability of the economic model.
4. LBPT may modify reward criteria, caps, or formulas at any time for system stability.

9. Use of the Services and Platform Access

1. LBP is used across multiple sub-platforms within WELINK, including but not limited to:
   • BEFRIEND – global social network and chat;
   • UTUT – location-based user-to-user LBP trading;
   • L.AD Platform – location-based and streaming advertising;
   • TIG – travel information and emergency support platform;
   • LBP PAYMENT – offline and partner payments.
2. Access to specific platforms or features may require separate registration, KYC procedures, or acceptance of additional terms.
3. LBPT may add, modify, or suspend platforms or features at any time.

10. Fees and Pricing

1. Platform transactions may incur:
   • LBP transfer fees;
   • Service usage fees (e.g., premium features, advertising fees, expert connection fees);
   • Network (blockchain) fees charged by third-party infrastructure.
2. LBPT may:
   • Change fee rates and pricing at any time;
   • Impose promotional or differential discounts (e.g., LBP discounts compared to fiat payments);
   • Charge administrative or settlement fees for certain services.

11. User Obligations

You agree to:

1. Use the Services lawfully and in accordance with these Terms and all applicable platform policies;
2. Not use LBP or the Services for:
   • Money laundering or terrorist financing;
   • Fraud, scams, or other criminal activity;
   • Illegal gambling, drugs, weapons, or other prohibited goods/services;
3. Provide accurate information and update it when necessary;
4. Maintain the security of your wallets, private keys, and authentication methods;
5. Notify LBPT immediately of any suspected account compromise related to LBPT-operated accounts.

12. Third-Party Services, Exchanges, and Wallets

1. You may hold or trade LBP using third-party wallets or exchanges not operated by LBPT. LBPT has no control over such services and bears no responsibility for:
   • Loss of private keys or seed phrases;
   • Hacks, insolvency, or operational failures of third parties;
   • Delistings or trading suspensions.
2. Any use of LBP outside the LBPT ecosystem is at your own risk.

13. Risks and Disclaimers

1. Using LBP and the Services involves significant risks, including but not limited to:
   • Market volatility and potential loss of value;
   • Regulatory changes affecting the legality or usability of tokens;
   • Technical defects, bugs, or vulnerabilities;
   • Cybersecurity incidents, hacking, or theft;
   • Platform changes, delays, or discontinuation.
2. LBPT:
   • Provides the Services on an "as is" and "as available" basis;
   • Does not warrant uninterrupted or error-free operation;
   • Does not guarantee any particular result, profit, or performance.
3. You are solely responsible for assessing these risks and, where necessary, obtaining independent legal, tax, and financial advice.

14. Tax and Regulatory Compliance

1. You are solely responsible for:
   • Determining whether any transaction involving LBP has tax consequences;
   • Reporting and paying any applicable taxes (e.g., income, capital gains, VAT);
   • Complying with all legal and regulatory obligations in your jurisdiction.
2. LBPT does not provide tax advice and is not responsible for your failure to comply with applicable law.

15. Limitation of Liability

1. To the maximum extent permitted by law, LBPT, its directors, employees, and affiliates shall not be liable for:
   • Any indirect, incidental, consequential, punitive, or special damages;
   • Loss of profits, revenue, data, goodwill, or opportunity;
   • Losses arising from third-party services or external blockchain failures.
2. In any case where liability cannot be excluded, LBPT's aggregate liability to you shall be limited to the lesser of:
   • The total amount of fees you paid directly to LBPT during the twelve (12) months preceding the event giving rise to the claim; or
   • USD 100 (one hundred US dollars) or equivalent.

16. Suspension and Termination

1. LBPT may suspend or terminate your access to the Services, or restrict your participation in the ecosystem, if:
   • You violate these Terms or other policies;
   • LBPT suspects fraudulent, illegal, or high-risk activity;
   • Required by law, regulation, or order of a competent authority.
2. Upon termination:
   • Your rights to use LBPT-operated accounts or in-app balances may cease;
   • On-chain LBP stored in your own wallet remains under your control, subject to applicable law and third-party policies.

17. Amendments

1. LBPT may amend these Terms from time to time. Updated versions will be published on LBPT's official channels.
2. Unless otherwise required by law, changes become effective on the date specified in the notice. Continued use of the Services after that date constitutes your acceptance of the updated Terms.

18. Governing Law and Dispute Resolution

1. These Terms are governed by the laws of Singapore, without regard to conflict of law principles.
2. Any dispute arising out of or in connection with these Terms shall be submitted to the competent courts of Singapore or, where agreed, to an arbitration institution seated in Singapore.
3. Nothing in this clause limits LBPT's right to seek injunctive relief or interim measures in any competent jurisdiction.

19. Contact

If you have questions regarding these Terms, you may contact: