The purpose of this Agreement is to prescribe the rights, obligations, responsibilities, and other necessary matters concerning the use of STING and STING-related services provided by the STING Foundation (hereinafter referred to as the "Company").
Definitions of terms used in these terms and conditions are as follows.
- 1. The term "service" means STING's digital asset transaction services and related services available to members regardless of their terminals (including various wired and wireless devices such as PCs and portable terminals).
- 2. The term "member" means a customer who connects to the service and enters into a contract with the company in accordance with these terms and conditions and uses the service provided by the company.
- 3. The term "ID or account" means a combination of letters or numbers given to members by the company to identify members and provide services after members agree to these terms and conditions and personal information processing policies.
- 4. The term "nicname" means the unique name (a combination of letters and numbers) of members determined by the member who has agreed to these terms and conditions and the personal information processing policy and collected by the company.
- 5. The term "digital asset" means the information that exists electronically in the blockchain, such as Ethereum (ETH) and STN, which can be traded in the service.
- 6. The term "external digital asset address" means any digital asset address or account owned or used by a member or other person outside of the Services. External digital asset addresses are not owned, controlled or operated by the Company.
- 7. "STING Wallet" means a digital asset wallet used by STING to store digital assets associated with members' STING IDs. The "STING Wallet" allows members to exchange digital assets with "external digital asset addresses".
- 8. The term "posting" means articles, photos, videos, various files, links, etc. in the form of information, such as signs, letters, voices, sound, videos, etc. posted on the service by a member.
- 9. The term "content" means information or materials in the form of online digital (including their complex), such as signs, letters, shapes, colors, voices, sounds, images, videos, etc. that the company provides to its members.
- 10. "Open Market" means an application trading site operated by an "Open Market Operator".
- 11. The term "open market operator" means an e-commerce company that provides service installation and payment functions.
- 12. The term "payment company" means a company that provides electronic payment methods available in the "open market", such as credit cards and mobile phone payments.
- 13. The term "paid payment" means payment activities to purchase contents, etc. for a fee within the service.
- 14. The term "paid content" means "content" purchased for a fee through "paid payment".
- 15. The term "market" means a virtual space where members can buy and sell digital assets according to their own will.
- 16. "Important Affiliate" means a company that enters into partnership agreements with "Company" to provide some of the important functions of "Services" (including, but not limited to, login functions, digital asset exchange interlocking functions).
- ① The company shall post the contents of these terms and conditions in the service or through the connection screen so that the members can easily understand them.
- ② If necessary, the company may amend these terms and conditions to the extent that they do not violate the relevant statutes.
- ③ If the company amends these terms and conditions, it will specify the details of the amendment and the date of application and announce it from seven days before the date of application to the day before the date of application. However, in the case of a change unfavorable to a member, it will be announced 30 days before the date of application.
- ④ If a member fails to express his/her intention explicitly, he/she agrees to the revised terms and conditions even though the company clearly announced that he/she will not express his/her intention by the day before the date of application.
- ⑤ If a member disagrees with the revised terms and conditions, he/she may express his/her intention to refuse the service and terminate the service contract by the day before the date of application.
- ① The company may have a separate operation policy in addition to these terms and conditions.
- ② Matters not prescribed in these Terms and Conditions or interpretations shall be governed by the operation policies, guidelines for use, and related statutes.
- ① The user contract is concluded by the person who intends to become a member (hereinafter referred to as the "applicant") agreeing to the terms and conditions provided by the company, and then completing the application in accordance with the procedures set by the company.
- ② The company may refuse to accept the application of the applicant in any of the following cases, and may revoke his/her consent or terminate the service contract if any of the following grounds are confirmed even after joining:
1. Where an applicant has previously lost his/her membership under these terms and conditions
2. In the case of using a name other than his/her real name or the name of another person
3. Where false or incorrect information is entered or provided, or the details presented by the company are not entered
4. Where an application cannot be approved due to reasons attributable to the applicant or violates all other matters prescribed in this Agreement
5. Where a service is intended to be used for improper purposes or for separate business purposes
6. Where an application is made for a purpose that may violate relevant statutes or hinder social well-being or good customs
7. Where the applicant is a non-resident foreigner or under 19 years of age
- ③ The establishment of the use contract shall be the time when the company marks the completion of account creation in the application process or when the notice under Article 22 reaches the applicant.
- ④ In order to verify whether the information provided by a member is consistent with the facts, the company may request real name verification or self-certification through a specialized institution to the extent permitted by Acts and subordinate statutes.
- ① Members may view and modify their personal information at any time through the service. However, the ID required for service management cannot be modified.
- ② A member shall directly modify the service or notify the company of the change through the Customer Center if the matters stated at the time of membership registration are changed.
- ③ The company shall not be responsible for any disadvantages caused by the member's failure to notify the company of the changes under the preceding paragraph.
- ① The company may restrict the use of a member's nickname if he/she is likely to leak personal information, misunderstand him/her as someone else, violate antisocial or immoral, infringe on the rights of a third party, or mistake him/her as an operator of the company or company. In addition, the company may restrict the use of the relevant nickname if the company deems it necessary by reasonable judgment, even in other cases.
- ② If the account, password, etc. registered by the member matches that registered with the company, the user shall be considered a member without a separate verification procedure.
- ③ The member is responsible for keeping all information necessary to access the account, including the password, securely so that third parties without his/her permission do not gain unauthorized access to the member's account.
- ④ A member shall immediately notify the Company if he/she has lost, stolen, or recognized that his/her account access information has been disclosed to a third party. The company can immediately suspend the use of the account.
- ⑤ The company shall not be responsible for any damage caused to the member due to the loss, theft, or disclosure of access information, such as the member's account password. However, the same shall not apply to the intention or negligence of the company.
The company shall endeavor to protect the personal information of its members as prescribed by relevant statutes, such as the Act on the Promotion of the Use of Information and Communication Networks, the Personal Information Protection Act, etc. Related Acts and subordinate statutes and the company's personal information processing policy apply to the protection and use of personal information. However, the company's personal information processing policy does not apply to externally linked screens other than those produced and provided by the company.
- ① The company shall comply with the relevant statutes and these terms and conditions and shall endeavor to provide services continuously and stably.
- ② The company may have a security system to protect personal information (including credit information) so that members can use the service safely, and disclose and comply with personal information processing policies.
- ③ If the company deems that opinions or complaints raised by the member in connection with the use of the service are justified, it shall handle them, and may deliver the process and results to the member through bulletin boards, e-mails, etc. in the service.
- ① A member shall not perform any of the following actions:
1. Stealing other people's information
2. Change the information posted by your company
3. Sending or posting information (computer programs, etc.) other than the information prescribed by the company
4. Infringement of intellectual property rights, such as copyrights of the company and other third parties
5. Impairs the reputation of the company and other third parties or interferes with their work
6. Disclosure or posting of obscene or violent messages, videos, voice, false information, or other information contrary to official documents to the Services
7. Use of services for profit without prior consent from the Company
8. Automated means such as agent, script, spider, spyware, toolbar, access to the service through other fraudulent methods, fraudulent generation or increase of exposure and clicks, application for service use, load the company's server.
9. The act of collecting personal information and account information of other members
10. Disrupting sound transaction order by unjustly affecting the market price of digital assets, etc.
11. Other illegal or unjust acts
- ② A member shall comply with the relevant statutes, these terms and conditions, information on use, and services announced or notified by the company, and shall not engage in any other acts that interfere with the affairs of the company.
- ① The copyright of a post posted by a member in the service shall be protected under the Copyright Act, and a permanent license shall be provided to the company in due course and by means as follows: The usage and acceptance ranges of the above licenses are as follows.
1. The right to use, edit, store, duplicate, modify, disclose, transmit, publicly demonstrate, publicly post and distribute posts for the purpose of operating, improving, improving, developing, promoting new services, etc.
2. The right to produce and distribute secondary works of a post.
- ② If a right company that allows media, telecommunications companies, etc. to report and broadcast the contents of the post for the purpose of promoting the service intends to use the member's post by telephone, fax, e-mail, etc. in advance.
- ③ Even if a member terminates a service contract or terminates a service contract under Article 21, this license shall survive within the scope prescribed in paragraph (1), such as improvement of the operation, improvement, and publicity, etc. of the service.
- ① Losses or other problems caused by unauthorized use of a member's post shall be solely responsible for the judgment of the member, and the company shall not be responsible for such loss.
- ② A member shall not use a post for the purpose of infringing on other persons' portrait rights, copyrights, etc., and if he/she is fully responsible for the consequences of violating others' rights.
- ③ A member shall not use the post for commercial or other personal gain without permission.
- ④ If a member damages the company by using the post without the consent of the company, the member shall be obliged to compensate for the damage in accordance with the legal procedure.
- ① A member shall not include any content or false information infringing on the copyright of another person in the post. Where a member's post contains information in violation of relevant statutes, such as the Act on the Promotion of Information and Communication Network Use, Information Protection, etc., the right holder may request the suspension, deletion, etc. of the relevant Act and subordinate statutes.
- ② The company may refuse to post, delete, etc. in accordance with the relevant Acts and subordinate statutes, if there is a reason for the violation of rights, falsehood, or violation of other company policies and related statutes, even without the request of the right holder under the preceding paragraph.
- ① Copyright and intellectual property rights to the service belong to the company.
- ② In connection with the service, the company shall grant members only the right to use the service, etc. in accordance with the conditions of use prescribed by the company, and the members shall not transfer, sell, provide collateral, etc.
- ① The company may separately designate the available time for each range by dividing the service into a certain range. However, if this happens, the contents will be announced in advance.
- ② The company may temporarily suspend the service provision if there is a reasonable reason for repair and inspection, replacement, and failure of information and communication facilities such as computers, loss of communication, or operation. In such cases, the company shall notify the members in advance through the initial screen of the service or the notice board. However, if there is an unavoidable reason why the company cannot notify in advance, it may notify afterwards.
- ③ The company may conduct an inspection if necessary for the provision of services, and the inspection time shall be as notified in the service-making section.
- ① The company may change the details, operation, technical matters, etc. of the service in order to provide stable services.
- ② If the company changes the service, it will notify the details of the change and the date of application in advance. However, if there is an unavoidable reason why the company cannot make an announcement in advance, it may be announced afterwards.
- ③ If a member disagrees with the service change, he/she may express his/her refusal to the company and terminate the service contract.
- ① If a member deposits Ethereum (ETH) into a wallet designated by the company (including when the company collects it with the consent of the member), the company will pay Ethereum (ETH) to the member's STING wallet.
- ② The member shall submit an order for the sale of digital assets to the company according to the method determined by the company.
- ③ When a member submits a digital asset sale order, he or she must have the Ethereum (ETH) or digital asset in his or her STING wallet that is required to enter into the sale order.
- ④ The company provides order confirmation information that summarizes the quantity, price, and fees of digital assets that the member intends to purchase or sell before submitting the order. The Member agrees that the order submitted by the Member shall not be affected even if the Company fails to provide such order confirmation information.
- ⑤ Members agree that the company is not responsible for changes in the price of digital assets. In the event of a discontinuation of the digital asset market or any unavoidable event, such as Article 23(2), the Company may take one or more of the following actions and the Company shall not be liable for any loss to the Member:
1. Discontinue access to services
2. Suspension of all activities in the service
- ⑥ When a member requests a withdrawal from Ethereum (ETH), the company will pay cash calculated at the rate of 1 Ethereum (ETH) per Ethereum (ETH) to the account registered in advance by the member.
- ⑦ The company may request real name verification or self-certification through a specialized institution to verify whether the information provided by the member is consistent with the facts when depositing cash or digital assets.
- ⑧ If the balance of the digital asset in the STING wallet is greater than the amount equivalent to the outstanding order, the member may send the amount excluding the fee to an external digital asset address. The member is responsible for the accuracy of the external digital asset address provided by the member and the company is not responsible for sending the digital asset to the external digital asset address incorrectly stated by the member.
- ⑨ When sending a phone number, the sender's name and remittance amount are disclosed to the recipient.
- ⑩ When a member transfers a phone number, he/she must enter the information of the other person (other member or non-member) accurately. The company does not take responsibility for problems caused by misinput of members.
- ① The company may refuse an order submitted through the service or place restrictions on the amount of transaction and other transaction conditions, if necessary to prevent damage to members under the subparagraphs of Article 5 (2), 20 (1) and (2). For example, you can limit the number of outstanding orders that the service can set up or limit transactions with local members. In such cases, the company will notify the members by means under Article 22.
- ② A member may cancel an order only before the order submitted to the service is signed. For partially signed orders, you can cancel the remaining orders that are not signed. If a member submits an order at a market price, the company may refuse the cancellation request.
- ③ If the digital assets available in a member's STING wallet fall short of the amount to conclude an order submitted by the member, the company may cancel the entire order or fulfill a partial order equivalent to the digital assets available in the member's STING wallet.
- ④ If it is difficult to continue services due to serious management reasons, such as the abolition of operations due to transfer of operations, division, merger, etc., expiration of contracts with important partners, and significant deterioration of profits. In such cases, unless there is any other unavoidable reason, the date of suspension, reasons for suspension, the method of transferring the user's digital assets, etc. shall be notified to the member by 30 days prior to the date of suspension. Provided, That the Company shall support the transfer of digital assets (withdrawals) of members pursuant to Article 18 (5) of this Agreement so that members can safely transfer (withdrawals) their digital assets even if they cease to support transactions.
- ⑤ The company may add or exclude individual digital assets available to members of the service, such as defects in digital assets themselves, bankruptcy and dissolution of critical affiliates, reasons for inevitable suspension of service provision, related laws, regulators, etc. The company will make reasonable efforts to inform its members in advance of the removal of digital assets. If certain digital assets are excluded from services provided by the company, the company will support transfers (withdrawals) to transfer digital assets to personal wallets issued by exchanges other than STING for at least 30 days from the date of announcement of discontinuation of digital asset transaction support.
- ⑥ The contents provided by the service are supplementary materials for the use of the service and are not encouraged or implied by investment or transaction. The Company does not guarantee the accuracy of the content and the information provided by other informants.
- ⑦ The company can support the transaction of new digital assets according to its operational policies.
- ① When a member uses services provided by the company, such as digital asset transaction services and digital asset deposit and withdrawal services, he/she shall pay fees accordingly. Service fees are specified on the company's website or on the "Guide to Use" of the application.
- ② In case of specific conditions, the company may determine the service fee through consultation with the members.
- ① The company may restrict members' service login in any of the following cases:
1. For continuous password errors
2. In the event of hacking or fraud.
3. When suspected of identity theft
4. Where a government agency requests restrictions on services in accordance with relevant statutes;
5. Where he/she is reasonably involved or suspected of being involved in market price manipulation, money laundering, unfair trade, criminal acts, etc.
6. Where a user registered as a member is identified as a minor or a non-resident foreigner
7. Where it is confirmed that a member makes a digital asset deposit and withdrawal transaction under another person's name
8. Where any other ground corresponding to each subparagraph arises or measures are necessary to prevent such ground from occurring
- ② The company may suspend or restrict the use of deposit and withdrawal of members in any of the following cases:
1. Where a user registered as a member is identified as a minor or a non-resident foreigner
2. When hacking or fraud is suspected to have occurred.
3. When suspected of identity theft
4. Where a government agency requests restrictions on services in accordance with relevant statutes
5. Where he/she is reasonably involved or suspected of being involved in market price manipulation, money laundering, unfair trade, criminal acts, etc.
6. Where it is confirmed that a member deposits and withdraws digital assets into an account under another person's name
7. Where any other ground falling under any subparagraph arises or measures are necessary to prevent such ground from occurring;
8. Where a digital asset is deposited to be traded on behalf of another person, such as a purchasing agency;
9. Where it is difficult for the company to verify the IP that the member actually accessed, such as accessing using VPN.
10. In the case of an account used for a crime (such as voice phishing), such as requesting withdrawal of a digital asset equivalent to the deposit within 24 hours after deposit of a digital asset
- ③ Accounts that are likely to be abused for crimes such as voice phishing and money laundering (small amounts, long-term unused accounts, etc.) may be adjusted according to the operating policy.
- ④ The conditions and details of restrictions within the limits of the use of this Article shall be determined by the company in operating policies, usage guidelines, etc.
- ⑤ Where the service use is restricted or the service contract is terminated pursuant to this Article, the company shall notify the member by means under Article 22.
- 6 A member may file an objection to restrictions on use, etc. under this Article through the STING Customer Center. If the company recognizes that the objection is justified, the company will immediately resume the use of the service.
- ⑦ The company may request the members to explain the source of the funds to determine whether the reason for restriction of use is applicable.
- ① A member may apply for the termination of a service contract at any time through the information management menu or the customer center, etc., and the company shall immediately process it as prescribed by the relevant statutes.
- ② In the event of any of the following reasons, the company may restrict the use of the service and request correction at the same time: Notwithstanding a request for correction, a service contract may be terminated if it is not corrected within a considerable period or if the same violation is repeated more than twice.
1. Where a member violates his/her obligations prescribed in Article 10 of these Terms or falls under the grounds for restriction of use prescribed in Article 20;
2. In the case of violating related statutes, such as illegal communication and hacking, distribution of malicious programs, and excess of access rights, etc., which violate the Act on the Provision and Operation of Illegal Programs, Promotion of Information and Communication Network Use, Information Protection, etc.
3. In the event of an act or attempt that interferes with the smooth progress of the service provided by the company
4. Where any other reason arises that this contract cannot be maintained for any of the following reasons
- ③ When the service contract is terminated under the preceding paragraph, all benefits obtained through the service use shall be extinguished, and the company shall not compensate for it separately.
- ④ Where a service use contract is terminated pursuant to this Article, the company shall notify the member by means under Article 22.
- ⑤ When the termination of the service contract is completed, all information of the members except the information held by the company will be deleted in accordance with the relevant statutes and the personal information processing policy.
- ⑥ Notwithstanding the preceding paragraph, if the company terminates the service contract pursuant to paragraph (2), the company may keep the members' information for a certain period of time to receive and process objections, and delete the members' information (excluding digital asset sales).
- ① Where a company notifies a member, it may be made by e-mail address, etc. provided by the member, unless otherwise provided in these terms and conditions.
- ② When the company notifies all members, it may substitute the notice referred to in the preceding paragraph by posting it on the bulletin board within the service for at least seven days.
- ① A company or member shall be responsible for compensating for damages caused to the other party in violation of these terms and conditions. Provided, That this shall not apply where there is no intention or negligence of the actor.
- ② If a loss occurs to a member due to the following reasons, he/she shall not be liable for such damage if the company proves that the manager has paid all his/her attention necessary to prevent damage to the member:
1. Where it is inevitable, such as exhibition, catastrophe, natural disaster, or equivalent national emergency
2. In the case of compliance with administrative disposition, orders, etc. by a government agency
3. In the case of service failure of telecommunication service providers, including key telecommunication business operators, under the Telecommunications Business Act
4. Where a service failure occurs due to a defect in the outsourcing system or a reason attributable to the user that the company cannot manage
5. In the event of a server failure due to a momentary increase in access to the website or a flood of orders for some items, etc.
6. In-service transaction systems, deposit and withdrawal systems, and networks of each digital asset (e.g., Ethereum (ETH) network) failures or errors occur.
- ③ The necessary precautions of the manager referred to in paragraph (2) of this Article include the following matters:
1. Appointment and management of information protection officers
2. Information Protection Training
3. Computer rooms (where computer equipment, telecommunications and security equipment is stored for digital asset transactions, essential business of the company), facilities in buildings, information protection systems (equipment and programs to protect information from leakage, forgery, damage, or information processing systems).
4. Cryptographic key (private key) management plan for signing required to prove disposal rights for digital assets
5. Establishment of countermeasures against information security incidents
6. Regular inspection of information protection measures and measures to respond to security incidents, etc.
7. Other information protection laws stipulate compliance by digital asset handlers
- ① The price, etc. of paid content is based on the price displayed in the store, etc. in the service, but the estimated amount of payment at the time of purchase and the actual amount of claim may vary due to exchange rates and fees when paying in foreign currency.
- ② Members shall pay the payment amount according to the policies, methods, etc. determined by the open market operator or payment company.
- ③ Payment limits can be adjusted according to the company, open market operator, payment company's policy, government policy, etc.
- ① Paid content purchased by a member is classified into content that can be withdrawn and content that cannot be withdrawn. Content that can be withdrawn can be withdrawn within seven days of purchase, and content that has passed this period or falls under the reasons for restriction of subscription withdrawal prescribed by other related laws, such as the Act on Consumer Protection in E-commerce. Content that is restricted from withdrawing subscription will either show limited facts or provide free content for trial use.
- ② In the case of paid content that can be withdrawn, the withdrawal of subscription may be restricted if the value of goods, etc. is significantly reduced after 7 days of purchase, or other reasons for restriction of subscription occur.
- ③ Contents that have not been directly purchased by the member, such as free content (including free content) and paid content received as gifts, are excluded from the subscription withdrawal.
Upon receipt of an application for withdrawal of subscription from a member, the company shall refund the purchase price of paid content within three business days (three business days from the receipt confirmation date) only if the subscription under Article 24 (1) and (2) is not withdrawable. In such cases, if the company delays the refund, the delayed interest calculated by multiplying the interest rate prescribed by the Act on Consumer Protection in Electronic Commerce, etc. shall be paid.
- ① A refund will be made if an overpaid member occurs. In principle, if overpayment occurs during the payment process, a refund should be requested to an open market operator, but if it is possible to support the processing of refund procedures under the open market operator's policies and systems, the company may request the open market operator to implement the necessary refund procedures.
- ② In principle, a refund shall be made in the same way as the member paid, but if a refund is not possible in the same way, a refund may be made in a different way.
- ③ In the event of an overpayment due to a member's responsibility, the member shall bear the fees, etc. required for refund.
- ④ Charges incurred using application downloads or network services (call fees, data call fees, etc.) are excluded from the refund.
- ① Refund may be received through the Customer Center if it falls under any of the following circumstances regarding paid contents:
1. Where the company is solely responsible for the purchase of paid content, but there is no service available for the purchase
2. for other consumer protection cases provided otherwise in the company.
- ② Members who want a refund of paid content must apply for a refund through the company's procedures, and the company examines whether the refund application is appropriate or not.
- ③ If the company decides to refund the member's refund application, the company calculates the balance of paid content that the member can get a refund and refunds the remaining 10% of the calculated balance. Provided, That if the service is not used due to reasons attributable to the company as referred to in paragraph (1) 1 of this Article, the company shall not restrict the refund fee.
- ④ Contents that are not directly purchased by the member, such as contents provided by the company for free and contents received as gifts, are excluded from the refund.
- ① The laws of the Republic of Korea shall apply to disputes arising between the company and its members.
- ② The court in charge of a dispute between the company and its members shall be the court in which the parties agree and decide, and if no agreement is reached, it shall be the court under the Civil Procedure Act.
- These terms and conditions will take effect from November 26, 2020.