Yield App

Angel Launchpad Terms of Use Policy

Last revised on 16 April 2024.

The Yield App Angel Launchpad (“Angel Launchpad”) is a service offered by AP Labs Limited (hereinafter referred to as “Yield”, which shall also mean any other Yield Operator as defined in the Yield Terms and Conditions as appropriate) that facilitates access to projects using ecosystems based on blockchain technology (“Projects”) through the issuance of digital tokens and/or other crypto assets by promoters of Projects (“Promoters”). Digital tokens and/or other crypto assets issued through Angel Launchpad (“Future Project Tokens”) are under development at the time of offering and are issued by Promoters, with the assistance of Angel Launchpad, subject to the successful launch of the Project which will provide the native ecosystem for the Future Project Token. Angel Launchpad constitutes one of the Yield Services. The use of the Angel Launchpad shall be subject to this Angel Launchpad Policy herein and the Yield Terms and Conditions.  All capitalised terms shall have the same meaning as defined under the Yield Terms and Conditions unless specified otherwise herein. In case of any inconsistency, the Angel Launchpad Policy shall prevail.

For the avoidance of doubt, Angel Launchpad is only a technological platform that facilitates the service described above by facilitating access to Projects and issuance of Future Project Tokens on behalf of both you and the Promoters. Yield is not an issuer, dealer, or underwriter of Future Project Tokens. If you purchase or pledge funds for an allocation of Future Project Tokens, you are entering into a separate legal contract between yourself and the Promoter. There is no privity of contract with Yield with respect to the successful development of either the Projects or Future Project Tokens. If a Project fails and the Promoter does not issue Future Project Tokens as agreed or otherwise breaches its agreements to you in any other way, you hereby agree and acknowledge that your only legal recourse will be to pursue legal action against the Promoter.

Eligibility

You must have USDT in your wallet to participate in the Angel Launchpad. Furthermore, the Angel Launchpad is only available to Users who have staked YLD tokens in the App according to the rules stipulated for the following reward tier levels published on our website:

(1)  Gold

(2)  Diamond

(3)  Angel

Yield reserves the right to amend the eligibility rules for Bronze, Silver, Gold and Diamond and Angel status Users at its sole discretion. Yield also reserves the right to disqualify Users who are nationals or residents of certain jurisdictions from participating in the Angel Launchpad as determined for each Project regardless of User tier level.

Participation Fee

The Angel Launchpad is a service that is offered in exchange for a participation fee (“Participation Fee”) payable by the User on a per Project basis. The User shall pay the Participation Fee in exchange for the right to pledge funds for each separate Project. The Participation Fee shall be as published on our website from time to time. Participation Fees must be paid from USDT held in the Users’ own crypto wallet and cannot be paid from any USDT held in Earn or any other Yield Product unless stated otherwise.

Pledging Funds and Allocation Limits

The Angel Launchpad communicates information to Users about how to pledge funds to Projects according to the terms and conditions offered by each Project. Any pledge of funds to a certain Project shall be subject to privity of contract between the User and the Promoter. We will publish any standard terms and conditions offered by the Promoter to facilitate communication between the Promoter and the User about the Project. All Projects will have terms concerning an “Allocation Limit”, which is the maximum amount a User will be able to pledge to a Project in accordance with his or her reward tier level in the App. Angel tier Users shall not be subject to any Allocation Limit. Normally, a Project will not be able to guarantee any minimum allocation of Future Project Tokens in exchange for a certain pledge amount. However, to ensure fairness and transparency, the Angel Launchpad will require all Projects to use a standard formula published on our website to distribute allocations among Users who pledge funds towards a Project. All pledges of funds to a Project must be paid from USDT held in the Users’ own crypto wallet and cannot be paid from any USDT held in Earn or any other Yield Product.

Repayment of Unallocated Pledged Assets

Upon confirming a pledge, USDT held in the Users’ own crypto wallet will be deducted and custody will transfer to Yield for the remainder of the Pledge and Allocation period, which may vary on a Project-to-Project basis. The Pledge and Allocation period will include the initial pledge, the variable pledge period and payment of any Participation fees, after which any remaining unallocated USDT will be returned to the Users’ own crypto wallet. Typically, unallocated assets will be returned to Users’ own crypto wallet within 7-10 days of confirmation of final allocation.

Future Project Tokens

Future Project Tokens represent very early-stage investments that are highly speculative and where the future direction and nearly any detail of a Project are subject to change. Yield makes no representations or warranties about Future Project Tokens either as to their utility, functionality, or investment value. The terms and conditions for Future Project Tokens shall be as offered by the Promoter, and as agreed between you and the Promoter. Upon successful launch of a Project and issuance of Future Project Tokens, Angel Launchpad will provide the service of delivering Future Project Tokens from the Promoter to you. Such issuance may be done by means of an airdrop to your nominated account in the App, or a dedicated claim portal, or through some other means. The means of delivery will be determined as appropriate for each Project.

Other Terms

Yield reserves the right to unilaterally terminate the Angel Launchpad from time to time. You shall be duly notified when the Angel Launchpad shall be terminated. However, any such termination of the Angel Launchpad shall not affect the validity of any legal agreement or any terms and conditions of which you are in privity of contract with a Promoter.