Token Grant Terms & Conditions

World Foundation, together with our subsidiary entities (“World”, “we”, “us”, “our”), supports the development and stewardship of the World protocol (the “Protocol”), including software, hardware devices and associated blockchain‑based smart contracts (together, the “Project”). These Token Grant Terms & Conditions (these “Terms”) govern grants or transfers of WLD tokens (“WLD”) by World to eligible recipients (“you” or “Recipient”) in connection with services provided directly to World or for the benefit of the Protocol (collectively, the “Services”).

Any written services agreement between Recipient and World (“Services Agreement”) governs the Services’ scope, deliverables, timing, vesting/lock‑ups, transfer scheduling, and performance‑based metrics, termination rights or clawbacks. These Terms govern risk allocation, compliance, market conduct, wallet/custody, off‑ramping, and taxes for WLD transfers. In the event of a conflict between these Terms and the Services Agreement, these Terms shall prevail.

Further, these Terms complement (and incorporate by reference) World’s Risk Disclosure Statement (the “Risk Statement”). If there is a conflict, these Terms control solely for grants/transfers in connection with Services; otherwise the Risk Statement controls for general Project/WLD risks. By entering into a Services Agreement with, or receiving WLD from, us, you acknowledge that you have carefully read and understood the Risk Statement and accept the risks described in it.

WLD provided under these Terms constitutes consideration for the Services and may be subject to vesting, lock‑ups, clawback, and other written conditions set forth in the Services Agreement. WLD does not confer ownership, equity, dividends, or similar rights in World or any other entity, and neither the Protocol nor WLD is provided with any warranties; both remain experimental and may have uncertain or no utility or monetary value, as further described in the Risk Statement.

Wallets; Risk of Loss

WLD shall be delivered to a blockchain address that the Recipient designates and World approves (the “Designated Wallet”). Recipient bears all responsibility for address accuracy, wallet compatibility, and the security, use, and custody of private keys and credentials, as well as any losses arising from errors, incompatibilities, mis‑deliveries, compromises, or lack of control over or access to the Designated Wallet. Blockchain transfers are irreversible; loss or compromise of keys or wallet access can result in permanent loss of WLD, which World cannot recover. World may select, or on notice change, network and smart‑contract methods used to perform its obligations for security or operational reasons. Recipient bears network fees and timing risks associated with congestion, reorgs, forks, and smart‑contract defects.

KYC; Continuing Obligations

Any transfer of WLD is conditioned on the Recipient’s successful completion of World’s due diligence and sanctions screening, as required in the relevant Services Agreement, conducted by World or its service providers. Recipient shall promptly notify World or the relevant service provider of any changes to information relevant to such diligence, including changes of ownership or control, legal name, principal address, sanctions exposure, or PEP status, within 10 days of the occurrence of such change, and shall complete periodic re‑verification on World’s reasonable request. World may withhold, suspend, or claw back WLD in the event Recipient submitted false information, withheld or misrepresented information, or where it reasonably believes such action is required by applicable law, AML, sanctions, or other similar programs. 

Recipient acknowledges and agrees that Recipient shall be liable for all loss, liability, claims, damages, and expenses whatsoever (including all expenses incurred in investigating, preparing or defending against any claim whatsoever) arising out of or relating to any inaccuracy in representations and warranties provided by Recipient or from any breach to its obligations hereunder.

Regulatory Uncertainty and Compliance

Recipient acknowledges that regulatory frameworks affecting digital assets, their transferability or use, off‑ramps, and blockchain-based technologies and platforms are evolving and may impact World’s ability to transfer WLD, as well as the ability to use it. If World reasonably determines that any delivery would or may violate applicable law, it may withhold, suspend, or terminate the transfer. If WLD was previously delivered and World reasonably determines that such delivery may have violated applicable law, Recipient shall return the relevant WLD upon World’s request.

Notwithstanding any of the foregoing, World reserves the right, in its sole discretion, to satisfy any obligation it has to transfer WLD to a Recipient in fiat currency or stablecoins equivalent to the dollar-denominated value of the relevant WLD that would be transferred.  

Recipient acknowledges and agrees that the WLD transferred in connection with a Services Agreement is not a “public sale of newly created virtual assets” under the Virtual Asset (Service Providers) Act (2024 Revision) of the Cayman Islands, or any similar laws promulgated by the jurisdiction in which Recipient resides or operates. 

World will not deliver, and Recipient shall not accept, any transfer of WLD if Recipient is, or is acting on behalf of, a New York resident, or if Recipient or such person on whose behalf Recipient is acting is located in New York at the time of delivery. Recipient may not, directly or indirectly, offer, distribute or solicit the purchase or sale of, or otherwise market, WLD to any user in or from New York, or to or from any New York resident while located outside of New York. This prohibition is broad and includes any activity undertaken for the purpose of, or that could reasonably be expected to reach, an audience in New York.

Market Conduct; Use Restrictions

Recipient and any person acting on its behalf shall not, directly or indirectly, engage in or facilitate market manipulation, including front‑running, wash trading, spoofing, layering, churning, or quote stuffing; ordinary‑course, lawful market‑making that complies with applicable law is permitted. Recipient will not use WLD to engage in or support illicit trade, money‑laundering, bribery, gambling where prohibited, or any criminal activity.  

World makes no promise or warranty that exchanges, OTC desks, custodians, or other off‑ramp providers will be available to Recipient, will onboard Recipient, or will provide liquidity for WLD at any price in any jurisdiction. Recipient is solely responsible for its own exchange onboarding and ability to access venues where WLD may be received, sold, swapped, or stored (“Rails”), as well as any additional compliance requirements (including any additional KYC, source‑of‑funds evidence, travel‑rule requirements, and transactional records) that may be necessary to use or access any Rails, as well as for all costs and consequences associated with attempts to sell, convert, or otherwise dispose of WLD.

Taxes and Information

Recipient assumes full responsibility for all tax-related obligations arising from performance of the Services and any transfers made under the Services Agreement. Recipient agrees to disclose all necessary information to any applicable tax authority and to pay, when due, any and all taxes (including but not limited to income tax, health insurance and social security and/or pension contributions as applicable) incurred in connection with the Services, in full compliance with the laws and regulations of any applicable territory where the Services are performed.

All transfers made by the World for the provision of the Services include any and all taxes (including service tax) levied by any governmental entity on the provision of Services.  Recipient represents that World shall not be required or obligated to withhold any tax at the source at the time of transfer and agrees to inform World immediately of any withholding tax requirements that may become applicable in the future. Recipient agrees to provide World with proof of payment of taxes upon our request.

Technology and Security Risks

Recipient expressly assumes the risks inherent in experimental technology, potential code vulnerabilities, cyberattacks, consensus or 51% attacks, wallet malfunctions, hardware or supply‑chain issues related to Orbs or associated devices, and data/privacy incidents, as described in these Terms and the Risk Statement. Except in cases of World’s gross negligence or willful misconduct, World shall not be liable for losses arising from such risks, including, but not limited to, losses due to key compromise, contract defects, or network failures.

Updates to These Terms

World may update these Terms from time to time. Material updates applicable to you will become effective upon you being provided reasonable notice of the updates by us. Continued provision of Services, participation in World’s other features, or acceptance of WLD from us after such date constitutes acceptance of the updated Terms. These Terms shall be binding upon Recipient and its heirs, executors, administrators, successors and assigns.

Governing Law; Dispute Resolution

These Terms shall be governed by and construed in accordance with the laws of the Cayman Islands. The courts of the Cayman Islands shall have jurisdiction to settle any disputes which may arise out of or in connection with these Terms and, accordingly, any legal action or proceedings arising out of or in connection with these Terms (“Proceedings”) may be brought in those courts.  Recipient irrevocably submits to the jurisdiction of those courts and waives any objection to Proceedings in such courts, whether on the ground of venue or on the ground that the Proceedings have been brought in an inconvenient forum. This submission is made for World’s benefit and shall not limit World’s right to initiate Proceedings in any other courts of competent jurisdiction.

Equitable Remedies

Recipient acknowledges that breaches of market‑conduct and other material obligations may cause irreparable harm for which monetary damages would be inadequate and agrees that World is entitled to injunctive relief, specific performance, or other equitable remedies, in addition to any other remedies available at law or equity.