Terms of Service

1.1 These Terms of Service (these "Terms") are a binding agreement between you and veledah ("veledah," "we," "us," or "our") governing your access to and use of the veledah websites, applications, simulated markets, and related services (collectively, the "Service"). By creating an account, clicking to accept, or otherwise accessing or using the Service, you accept and agree to be bound by these Terms and by our Privacy Policy, which is incorporated into these Terms by reference. If you do not agree, you may not access or use the Service.

1.2 Certain features of the Service may be subject to additional posted rules or procedures, including listing, correction, and delisting procedures. Those rules are incorporated into these Terms by reference. In the event of a conflict, these Terms control unless the additional rules expressly state otherwise.

2.1 You may use the Service only if you are at least eighteen (18) years of age, have the legal capacity to enter into a binding contract, and are not barred from using the Service under applicable law. The Service is not directed to, and may not be used by, any person under 18.

2.2 You may register and maintain no more than one (1) account (your "Account"). Each Account must correspond to exactly one natural person. Accounts registered to entities, groups, bots, pseudonymous collectives, or persons other than the registering individual are prohibited and may be terminated without notice.

2.3 Access to trading features is conditioned on successful completion of identity verification as described in Section 5. We may decline to verify, or may re-verify, any person at any time.

3.1 The Service is a simulated, play-money market operated for entertainment, social, and research purposes only. Each market on the Service (a "Market") corresponds to a verified natural person who has listed themselves (a "Listed Person"). Prices on the Service reflect simulated demand within a closed system of play credits and reflect nothing else.

3.2 The Service is not a securities exchange, broker-dealer, alternative trading system, commodities or futures market, designated contract market, swap execution facility, money services business, bank, or gambling service. Nothing on the Service constitutes a security, commodity interest, swap, deposit, currency, or investment of any kind. Positions on the Service ("Positions") are entries in a simulated ledger; they convey no equity, debt, profit interest, claim, or right of any kind against any Listed Person, veledah, or any other party.

3.3 Nothing on the Service constitutes investment, financial, legal, tax, or other professional advice, or a recommendation, solicitation, or offer to buy or sell any instrument. Content on the Service, including prices, charts, and updates posted by Listed Persons, is provided for informational and entertainment purposes only.

3.4 A price on the Service is a measure of simulated demand for exposure to a Market. It is not a measure, rating, or score of any person's worth, character, creditworthiness, employability, or any other attribute, and you agree not to represent it as such.

4.1 "Credits" (or "CR") are the play-money units of account used on the Service. Credits are made available to you solely under a limited, personal, revocable, non-exclusive, non-transferable, non-sublicensable license to use Credits within the Service, subject to these Terms. You have no property interest in Credits. Credits are not owned by you, and nothing in these Terms transfers to you any ownership interest in Credits.

4.2 Credits have no monetary value. Credits cannot be purchased, sold, transferred, assigned, exchanged, or withdrawn; cannot be redeemed for money, goods, services, or any other thing of value; and may not be used outside the Service. Any attempted purchase, sale, transfer, or redemption of Credits is void and is a breach of these Terms.

4.3 Each Account receives a one-time grant of 10,000 CR upon successful identity verification. That grant is the sole means by which Credits enter the Service.

4.4 Each executed trade carries a fee of one percent (1%) of the trade value, assessed in Credits, of which 0.5% is credited to the Listed Person of the relevant Market and 0.5% is retained by veledah. Fees are denominated and settled exclusively in Credits and have no cash value.

4.5 We may modify, adjust, revalue, or reset Credit balances, Positions, prices, or any other simulated value at any time, including to correct errors, enforce these Terms, preserve the integrity of the simulation, or upon termination of the Service, in each case with or without notice and without liability to you. Upon termination of your Account or of the Service, your license to Credits ends and all Credits and Positions associated with your Account are extinguished without compensation.

5.1 You must provide accurate, current, and complete information when registering and must keep it accurate, current, and complete. You are responsible for maintaining the confidentiality of your credentials and for all activity that occurs under your Account. You must notify us promptly of any unauthorized use of your Account.

5.2 We use identity verification to enforce the one-person, one-account, one-Market rule. By submitting to verification you represent that the identity information and documents you provide are your own and are genuine. Verification data is handled as described in the Privacy Policy.

5.3 We may deny, suspend, or revoke verification, and may suspend or restrict any Account, where we determine in our reasonable discretion that identity information is false, duplicative, or compromised, or that the Account is operated by someone other than the verified person.

6.1 Self-listing only. A Market may be created only by the person it concerns. You may list yourself; you may not list, or attempt to cause the listing of, any other person. We do not create Markets for persons who have not listed themselves, and we will remove any Market found to have been created without the Listed Person's own verified consent.

6.2 One permanent Market. One verified person maps to exactly one Market. The ticker symbol you select is permanent. There is no relisting and no second Market for the same person, and a Market's trade history is a permanent canonical record. Delisting under Section 6.5 does not create eligibility for a new Market.

6.3 Insider labeling. Every trade executed by a Listed Person in their own Market is publicly and permanently labeled as an insider trade, without exception. By listing yourself you consent to this labeling.

6.4 Updates; corrections. Updates posted by a Listed Person become immutable ten (10) minutes after posting. After that time an update may not be edited or deleted; it may only be amended by a linked correction that is displayed alongside the original.

6.5 Delisting. A Listed Person may request delisting at any time in accordance with our documented delisting procedure. Delisting halts trading in the Market; it does not erase the Market's historical record except where required by applicable law.

7.1 You agree not to, and not to assist, encourage, or enable any third party to: (a) create, register, or verify an Account using a false, assumed, or duplicate identity, or operate more than one Account; (b) list or attempt to list any person other than yourself, or trade in a Market you know was created without the Listed Person's consent; (c) engage in wash trading, self-dealing across coordinated Accounts, spoofing, layering, or any other conduct intended to manipulate prices, volume, fees, or any other mechanism of the Service; (d) harass, threaten, stalk, defame, or abuse any Listed Person or other user, on or off the Service, in connection with the Service; (e) scrape, crawl, harvest, or systematically extract data from the Service, or access the Service by any automated means, except as expressly permitted by us in writing; (f) reverse engineer, decompile, disassemble, or otherwise attempt to derive the source code of the Service, except to the extent such restriction is prohibited by applicable law; (g) probe, scan, or test the vulnerability of the Service, or circumvent any security or access control; (h) represent Credits or Positions as having monetary value, or offer, broker, or facilitate any off-platform sale, transfer, or exchange of Credits, Positions, or Accounts; or (i) use the Service in violation of any applicable law or regulation.

7.2 Prohibition on deceptive claims. The Service does not certify the accuracy of statements published by Listed Persons; statements carry provenance labels and users must evaluate them independently. However, a Listed Person may not publish, and no user may knowingly amplify, a statement of fact on the Service that the speaker knows to be materially false or misleading, including for the purpose of affecting the price or volume of any Market. We may investigate reported statements, preserve evidence, halt the affected Market, require or publish corrections, and suspend or terminate Accounts in connection with deliberate deception.

7.3 Prohibition on eligibility use. The Service, Markets, prices, and any data derived from them measure market demand within a simulation. You may not use the Service or any data obtained from it, in whole or in part, to make or support decisions about any individual's eligibility for employment, credit, lending, housing, insurance, education, or any other purpose that would cause veledah or you to become subject to the Fair Credit Reporting Act or any analogous law, and you may not represent any Market price as a measure of any person's creditworthiness, character, trustworthiness, or general reputation.

7.4 We may investigate suspected violations of this Section 7 and may reverse trades, adjust balances, remove content, halt Markets, and suspend or terminate Accounts in connection with any violation.

8.1 "User Content" means any content you submit to the Service, including profile information, updates, corrections, and ticker symbols. As between you and veledah, you retain ownership of your User Content.

8.2 You grant veledah a worldwide, non-exclusive, royalty-free, sublicensable license to host, store, reproduce, display, distribute, and adapt (solely for formatting and technical purposes) your User Content in connection with operating, providing, and improving the Service, including maintaining the permanent public record described in Section 6. Because Markets and their histories are permanent records, this license survives termination of your Account to the extent necessary to preserve that record.

8.3 You represent and warrant that you own or have all rights necessary to submit your User Content and that it does not infringe or misappropriate the rights of any third party or violate any applicable law.

9.1 The Service, including its software, design, text, graphics, data compilations, and the veledah name and marks, is owned by veledah or its licensors and is protected by intellectual property laws. Except for the limited rights expressly granted in these Terms, no right, title, or interest in the Service is transferred to you.

9.2 Subject to these Terms, we grant you a limited, personal, revocable, non-exclusive, non-transferable license to access and use the Service for its intended purpose. We reserve all rights not expressly granted.

10.1 Our collection and use of personal information, including identity verification data, is described in the Privacy Policy. By using the Service you acknowledge the practices described there.

THE SERVICE, INCLUDING ALL MARKETS, PRICES, CREDITS, POSITIONS, AND CONTENT, IS PROVIDED "AS IS" AND "AS AVAILABLE," WITHOUT WARRANTY OF ANY KIND. TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, VELEDAH AND ITS AFFILIATES, LICENSORS, AND SERVICE PROVIDERS DISCLAIM ALL WARRANTIES, EXPRESS, IMPLIED, OR STATUTORY, INCLUDING ANY WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE, NON-INFRINGEMENT, ACCURACY, AVAILABILITY, AND UNINTERRUPTED OR ERROR-FREE OPERATION.

WITHOUT LIMITING THE FOREGOING, VELEDAH MAKES NO WARRANTY OR REPRESENTATION THAT CREDITS, POSITIONS, OR ANY OTHER SIMULATED VALUE HAS OR WILL HAVE ANY VALUE; THAT ANY MARKET, PRICE, OR LABEL IS ACCURATE OR RELIABLE; OR THAT ANY CONTENT POSTED BY A LISTED PERSON OR OTHER USER IS TRUE, CURRENT, OR COMPLETE. YOU USE THE SERVICE AT YOUR OWN RISK.

TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, IN NO EVENT WILL VELEDAH OR ITS AFFILIATES, OFFICERS, DIRECTORS, EMPLOYEES, AGENTS, LICENSORS, OR SERVICE PROVIDERS BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, EXEMPLARY, OR PUNITIVE DAMAGES, OR FOR ANY LOSS OF PROFITS, REVENUES, GOODWILL, DATA, OR REPUTATION, ARISING OUT OF OR RELATING TO THESE TERMS OR THE SERVICE, WHETHER BASED ON CONTRACT, TORT (INCLUDING NEGLIGENCE), STRICT LIABILITY, OR ANY OTHER THEORY, AND WHETHER OR NOT VELEDAH HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

WITHOUT LIMITING THE FOREGOING, VELEDAH HAS NO LIABILITY FOR ANY CHANGE IN, OR LOSS OF, CREDITS, POSITIONS, PRICES, OR ANY OTHER SIMULATED VALUE, INCLUDING ANY ADJUSTMENT, REVERSAL, HALT, OR RESET UNDER THESE TERMS. CREDITS AND POSITIONS HAVE NO MONETARY VALUE, AND NO CLAIM MAY BE PREMISED ON ANY ASSERTED VALUE OF EITHER.

TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, THE AGGREGATE LIABILITY OF VELEDAH AND ITS AFFILIATES FOR ALL CLAIMS ARISING OUT OF OR RELATING TO THESE TERMS OR THE SERVICE WILL NOT EXCEED THE GREATER OF (A) THE AMOUNTS YOU PAID TO VELEDAH FOR THE SERVICE IN THE TWELVE (12) MONTHS PRECEDING THE EVENT GIVING RISE TO THE CLAIM (WHICH, FOR A FREE SERVICE, MAY BE ZERO) AND (B) ONE HUNDRED U.S. DOLLARS (US$100). SOME JURISDICTIONS DO NOT ALLOW CERTAIN EXCLUSIONS OR LIMITATIONS, SO SOME OF THE ABOVE MAY NOT APPLY TO YOU.

13.1 You agree to defend, indemnify, and hold harmless veledah and its affiliates, officers, directors, employees, and agents from and against any claims, liabilities, damages, losses, and expenses, including reasonable attorneys' fees, arising out of or relating to: (a) your use of the Service; (b) your User Content; (c) your violation of these Terms; or (d) your violation of any law or of the rights of any third party, including any Listed Person.

14.1 We may suspend, restrict, or terminate your access to the Service, and may halt, freeze, or close any Market, at any time, with or without notice, including where we reasonably believe: (a) you have breached these Terms; (b) verification has failed or been revoked; (c) a Market's integrity is compromised; (d) suspension is required by law; or (e) continued operation poses risk of harm to any person or to the Service. A halted Market's historical record remains part of the permanent ledger.

14.2 You may stop using the Service and may close your Account at any time. A Listed Person may additionally request delisting under Section 6.5.

14.3 Upon any termination: your licenses under Sections 4 and 9 end; all Credits and Positions associated with your Account are extinguished without compensation; and Sections 3, 4.5, 6.2, 8.2, 9, 11, 12, 13, 14.3, and 16 through 19 survive.

15.1 The Service is a simulation under active development. We may modify, suspend, or discontinue the Service, or any feature, Market mechanic, fee level, or Credit parameter, at any time, with or without notice, and without liability to you.

15.2 We may revise these Terms from time to time. The "Last updated" date above reflects the most recent revision. For material changes we will provide notice through the Service or by other reasonable means before the changes take effect. Your continued use of the Service after revised Terms take effect constitutes acceptance of the revised Terms; if you do not agree, you must stop using the Service.

16.1 These Terms and any dispute arising out of or relating to them or the Service are governed by the laws of [JURISDICTION], without regard to its conflict-of-laws principles.

17.1 Informal resolution. Before commencing any formal proceeding, you agree to first contact us as described in Section 20 and attempt in good faith to resolve the dispute informally for at least thirty (30) days.

17.2 Arbitration. Except as provided in Section 17.4, any dispute arising out of or relating to these Terms or the Service will be resolved by final and binding individual arbitration administered by [ARBITRATION PROVIDER] under its rules then in effect, before a single arbitrator, seated in [ARBITRATION SEAT], in the English language. Judgment on the award may be entered in any court of competent jurisdiction. YOU AND VELEDAH EACH WAIVE THE RIGHT TO A TRIAL BY JURY.

17.3 Class action waiver. ALL DISPUTES MUST BE BROUGHT IN THE PARTIES' INDIVIDUAL CAPACITY AND NOT AS A PLAINTIFF OR CLASS MEMBER IN ANY PURPORTED CLASS, COLLECTIVE, CONSOLIDATED, OR REPRESENTATIVE PROCEEDING. The arbitrator may not consolidate more than one person's claims and may not award relief for the benefit of non-parties. If this Section 17.3 is found unenforceable as to a particular claim, that claim (and only that claim) shall proceed in the courts specified in Section 17.4.

17.4 Exceptions; venue. Either party may bring an individual claim in small-claims court, and either party may seek injunctive or other equitable relief in a court of competent jurisdiction for infringement or misuse of intellectual property or unauthorized access to the Service. Any claim not subject to arbitration shall be brought exclusively in the courts located in [VENUE], and the parties consent to personal jurisdiction there.

17.5 Opt-out. You may opt out of Sections 17.2 and 17.3 by sending written notice to the contact address in Section 20 within thirty (30) days of first accepting these Terms, stating your name, Account identifier, and intent to opt out.

18.1 If any provision of these Terms is held invalid or unenforceable, that provision will be enforced to the maximum extent permissible and the remaining provisions will remain in full force and effect.

18.2 No failure or delay by veledah in exercising any right under these Terms operates as a waiver of that right. You may not assign these Terms without our prior written consent; we may assign these Terms in connection with a merger, acquisition, reorganization, or sale of assets, or by operation of law.

19.1 These Terms, together with the Privacy Policy and any rules or procedures incorporated by reference, constitute the entire agreement between you and veledah regarding the Service and supersede all prior or contemporaneous understandings, whether written or oral, regarding the Service.

20.1 Questions about these Terms may be directed to veledah at [CONTACT EMAIL] or [MAILING ADDRESS].