URT Terms and Conditions

1. Overview of URT Program.

  1. The Utility Rewards Tokens (“URT”) Program (the “Program”) is a rewards program provided by Green Stamps LLC (“Green Stamps” “we” or “us”) whereby participating users, including you, (each, a “Participant”) may earn and redeem URT as set forth herein. By using URT, you agree to the following terms and conditions that govern the Program (“Terms and Conditions”). At the time of this writing, one trillion URT are minted, of which approximately 400 million are in circulation. URTs are holdable by any Participant but may have additional capabilities when held by parties with a USBC Name (“USBC Name Holders”) (see website at https://usbc.xyz/). 
  2. URT is not monetary value but can be redeemed for monetary value from Green Stamps in the form of USBC — which are tokenized deposits issued by one or more nationally charted US banks. At the time of this writing, the issuance and redemption rate for URT is 100 URT per 1 USBC via the USBC app. Rates for issuance and redemption of URTs are set at the sole discretion of Green Stamps and may change with or without prior notice.

2. Participation & Privacy

  1. Participation: Participants are automatically enrolled in this Program when they earn, are granted, or buy URT as set forth herein. Continued use of URT constitutes participation in the Program and continued agreement to these Terms and Conditions, which may be updated from time to time and posted to our website at https://urt.digital. 
  2. Privacy: By participating in the Program, you agree that Green Stamps may collect and use your information provided as described in our privacy program, an overview of which is included below. 
  3. Overview of Privacy Program:
    1. For URT sold to, and redeemed by, USBC holders, such holders have a USBC Name and supporting identity credentials. Green Stamps will know and retain the USBC Name of each buyer and redeemer of URT, including the dates and amounts related to each purchase and redemption of URT by/for USBC. Through knowing the USBC Name of URT buyers and redeemers, Green Stamps will have access to the other publicly available information about those names, as well as any private information that the USBC Name Holder may choose to share consistent with Section (iv) below. 
    2. Green Stamps will not know the identity of URT holders when secondary sales occur to non-USBC Name Holders. In the case where a URT non-USBC Name Holder subsequently garners a USBC Name, Green Stamps may subsequently become aware of the USBC Name associated with a particular URT holder that was previously unknown when that participant seeks to redeem their URT.
    3. URT holders determine who they wish to share their identity credentials with, including those URT holders with USBC Names. Green Stamps does not share to third parties (without URT holders’ authorization) the identities it knows of URT holders. 
    4. URT holders with and without USBC Names may choose to opt into identity and credential sharing offers with third parties sourced through Green Stamps in exchange for additional grants or earnings of URT. 

3. How You Can Earn, Be Granted, Send, Receive, Buy Sell, Use, and Redeem URT

  1. You may receive grants of URT that may subsequently be used as needed for messages and payments in the USBC application, and other online activities that may, if not controlled through a postage stamp-like deterrent on overuse, amount to SPAM — capable of causing denial of service attacks (D.O.S.). URT that you receive as a grant represent an exhaustible allocation of reward tokens which will allow participants free use of messaging, payment, and other online activity in the URT ecosystem up to a threshold deemed to be beneath SPAM levels of usage by operators of those services. In order to engage in additional activity in the URT ecosystem, you will need to acquire additional URT (beyond the initial grants of URT) through the methods described in Section III(E) below. 
  2. URT serves as the primary SPAM deterrence method for mitigating the burden of privacy invasive inbound communication to USBC Name Holders. USBC Name Holders may establish an address list or whitelist of users permissioned to contact the holder and set a threshold amount of URT that must be received before being contacted by a third party that is not permissioned to do so. 
  3. Participants may receive URT as an earned reward for holding balances of other tokens or currency. The issuer or provider of other tokens or currencies are responsible for determining the amount and frequency of URT payouts. Green Stamps does not set rewards rates for balance holder rewards. 
  4. Participants may also receive URT as earned rewards for spending balances of other tokens or currency. The earned rewards for spending may come from either the issuers of tokens or currencies or the merchant payees receiving payments in those tokens or currencies. Green Stamps does not set reward rates for merchant rewards. 
  5. Participants may purchase and redeem URT from Green Stamps at an exchange rate set by Green Stamps. Green Stamps may, from time to time, make known the proportion of minted URT that are in circulation at any given time, including the proportion that are held in Green Stamp's treasury account versus those held by participants. Green Stamps may, at its sole discretion, publish the money reserves it has on hand to redeem some or all of the URT circulating in the hands of participants.  While Green Stamps may support a fixed purchase and redemption price for URT, it is not obligated to do so, and it may, through its sole discretion, change the purchase and redemption pricing, including making the value of URT zero, for the circulating supply of URT. Green Stamps may also, at its sole discretion, determine whether to increase or decrease the number of circulating URT in its treasury account, thus changing the mix of circulating and non-circulating but minted URT in the marketplace. Increasing or decreasing the number of circulating URT may result in the value of URT changing, or URT having no value. 
  6. Green Stamps neither controls nor condones third parties executing the buying and selling of URT for themselves or as intermediaries between participants that hold, send, and receive URT. Green Stamps neither controls nor condones third-party centralized or decentralized exchanges and payments networks from access to, or use of, URT. Green Stamps does not guarantee the existence of any resale trading market for URT, nor commit to purchase URT in any trading market that develops and is under no obligation to support trading in URT, at any price level or at all. The trading price of URT may decline all the way to zero, and you may suffer a loss. 
  7. Green Stamps neither controls nor condones the sending and receiving of URTs between participants, regardless of whether such participants have, or do not have, USBC Names. Green Stamps is not an arbitrator of disputes between sending and receiving parties of URT. 
  8. Green Stamps itself is not a federally insured bank, money transmitter, or market maker, and is not responsible for the activities of those or other third parties that interoperate with URTs.

4. URT Governance Rights

  1. URT holders may have governance rights based on the amount of URT held. Votes pertaining to matters that are associated with USBC Name Holders require that the participant holding URT must also have a provable USBC Name. 
  2. URT holders may have other governance rights that are based on a one-vote-per-URT-holder basis. As above, votes pertaining to matters that are associated with the USBC Name Holders require that the participant holding the URT also has a provable USBC Name.

5. Your Representations

  1. By your acceptance, whether through a grant, purchase, or transfer of URTs, you represent and warrant that you are not a Sanctioned Person. “Sanctioned Person” means any person that is the subject of sanctions or restrictions under sanctions laws, including any person listed on any applicable U.S. or non-U.S. sanctions or export-related restricted party list, including the U.S. Department of Treasury Foreign Asset Control’s Specifically Designated Nationals and Blocked Person List.
  2. By your acceptance, whether through a grant, purchase, or transfer of URTs, you represent and warrant that you will use your URTs only for the activities permitted by Applicable Law. “Applicable Law” means any applicable law, rule, regulation, judgment, injunction, order, decree, or other restriction of any governmental authority.

6. URT Limits of Liability

  1. Green Stamps and its respective affiliates, directors, officers, employees, agents, contractors, and third-party service providers make no representations or warranties, either express or implied, including, those of merchantability, fitness for intended use or a particular purpose and otherwise arising by law, custom, usage, trade practice, course of dealing or course of performance. You release Green Stamps and its affiliates, directors, officers, employees, agents, contractors, and third-party service providers, from all liability arising out of or related to all activity in connection with the URT benefit, including but not limited to, earning, use, or redemption of URT.
  2. You agree to indemnify and hold Green Stamps and its affiliates, directors, officers, employees, agents, contractors, and third-party service providers harmless from and against any loss, damage, liability, cost, or expense of any kind (including attorneys’ fees) that result from the claims of third parties arising from your: (i) use of URT, (ii) any misuse or fraud or relating to URT, (iii) violation of these Terms and Conditions; and/or (iv) violation of any applicable law or the rights of any third party.

7. General Terms

  1. Assignment. You may not transfer any of your rights, interest, liabilities, and/or obligations under these Terms and Conditions. You acknowledge and agree that we shall have the sole and absolute discretion to novate, transfer, or assign these Terms and Conditions and/or our rights, interest, liabilities, and/or obligations these Terms and Conditions at any time without your consent.
  2. Amendment. We may amend these Terms and Conditions at any time in our sole discretion. We will notify you of any future changes to these Terms and Conditions by posting the updated version on our website at https://urt.digital/. Your continued use of URTs constitutes your consent to any amendment.
  3. Governing Law. Any dispute, controversy, or claim arising out of or in connection with these Terms and Conditions or the Program shall be governed by, and construed in accordance with, the laws of the State of Nevada, without giving effect to any choice of law or conflict of law rules (whether of the State of Nevada or any other jurisdiction), which would cause the application of the laws of any jurisdiction other than State of Nevada.
  4. No Third-Party Rights. Nothing express or referred to in these Terms and Conditions will be construed any person other than the parties to these Terms and Conditions any legal or equitable right, remedy or claim under or with respect to these Terms and Conditions or any provision of these Terms and Conditions.
  5. Waiver. No waiver of any provision hereof will be effective unless made in writing and signed by the waiving party. The failure of any party to require the performance of any term or obligation of these Terms and Conditions, or the waiver by any party of any breach of these Terms and Conditions, will not prevent any subsequent enforcement of such term or obligation or be deemed a waiver of any subsequent breach of these Terms and Conditions.
  6. Service Providers. The third-party merchants and service providers that support the issuance, use, or redemption of URT are not affiliated with us and are not sponsors or co-sponsors of URT. Third-party merchants and service providers are subject to change without notice.
  7. Entire Agreement. These Terms and Conditions (including any documents, materials, or information incorporated by reference herein) constitutes the entire agreement between Participant and Green Stamps and supersedes all prior understandings, agreements, or representations by or between the parties, or any of them, written or oral, with respect to the subject matter of these Terms and Conditions.
  8. Severability. If any provision of these Terms and Conditions is held invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions will not be affected or impaired in any way, and you agree to accept a replacement of such invalid, illegal and unenforceable provision with a valid, legal and enforceable provision that achieves, to the greatest lawful extent under these Terms and Conditions, the economic, business and other purposes of such invalid, illegal or unenforceable provision.

8. Tax Obligations.

Benefits you receive through URT may qualify as reportable and taxable income to you under applicable law in your tax jurisdiction. You may be asked to provide certain identifying information (for example, your Social Security Number or Taxpayer Identification Number) for tax purposes, whether by Green Stamps or other parties with whom you interact with. You are solely responsible for any tax liability incurred in connection with your participation in the Program.