Ts&Cs for use of CASH TOKEN in Polkadot App
Please note that the TOKEN is running on an experimental, proof-of-concept testnet, so we cannot guarantee continuous or flawless operation.
We encourage attendees to engage with this decentralized technology to help stress-test and improve it. Therefore, we have provided an allocation of 30 EUR value in TOKENS for your use during the event.
1. Scope and Nature of TOKEN
1.1 These Terms and Conditions ("Ts&Cs") govern the issuance, use, and redemption of the Credits Against Summit Hospitality (CASH) Web3 Summit Token ("TOKEN/s"), the closed-loop event credit operated by the Web 3.0 Technologies Foundation, Gotthardstrasse 3, 6300 Zug, Switzerland (CHE-322.596.347) ("W3F" / "we"), contact: summit@web3.foundation, exclusively for the duration of the Web3 Summit at Funkhaus, Berlin on 18–19 June 2026 (the "Event").
1.2 TOKEN is a utility token denominated in an internal event unit. It is not a financial instrument, e-money, or currency. It does not represent a claim against W3F in fiat currency. Its sole purpose is to enable the acquisition of food, beverages and other goods and services from registered vendors at the Event venue or for exchange, transfer or receipt of TOKEN to, from or between Event participants in connection with activities at the Event, including awarding prizes as a reward for participation in certain activities at the Event.
1.3 TOKEN has no monetary value outside the closed system described in these Ts&Cs and confers no right to investment returns, yield, or participation in any future token issuance or product.
1.4 TOKEN is not connected to, and does not constitute a preview, pilot, or demonstration of, any other token, product, or future token issuance by W3F or any affiliated entity. No representation to the contrary should be understood from any on-site communication.
2. Acceptance of These Ts&Cs
2.1 By accepting TOKEN — whether through a complimentary starter allocation, a cashier or card buy-in, or a peer-to-peer transfer — you agree to be bound by these Ts&Cs.
3. Acquisition of TOKEN
3.1 Complimentary starter balance: All registered attendees may receive a complimentary starter allocation of TOKEN credited to their in-app wallet equivalent to EUR30 in value. This allocation is non-refundable and has no cash value.
3.2 Top-ups on-line or via on-site cashiers: Attendees may acquire TOKEN by exchanging Euro or paying by card at a designated cashier station at the Event venue, or by on-line card payment. The applicable exchange rate and transaction costs will be displayed at the cashier station or on-line.
3.2.1 W3F disclaims responsibility and liability for third party payment services not within its control. Payment functionality is provided on an “as-is” basis, and W3F makes no warranties regarding the continuous availability or security of any third party payment services.
4. Use of TOKEN
4.1 TOKEN may only be used within the closed network of the Event (including at vendors operated by Funkhaus in the immediate vicinity of the Event). No secondary market for TOKEN exists or is permitted. TOKEN may not be listed, traded, or offered for sale on any exchange or marketplace.
4.2 Peer-to-peer transfers: TOKEN may be transferred between registered Event attendees within the closed network of the app. Transfers outside the network of registered attendee wallets, registered vendor wallets, and designated cashier wallets are prohibited.
5. Cash-Out and Expiry
5.1 Unused TOKEN balances equivalent to EUR5 or more (rounding down to the nearest EUR5), including any prizes at the Event paid in TOKEN, may be redeemed for Euro at a designated cashier station at the Event venue up to 21.00 on 19 June 2026 subject to the daily limits specified below.
5.2 All TOKEN balances expire after 21.00 on 19 June 2026. Tokens not redeemed by that time will be burned (permanently destroyed on-chain) and no compensation will be payable.
5.3 The network on which TOKEN is deployed will be shut down after the Event. TOKEN will cease to exist upon network shutdown.
5.4 You must cash out any unused balance before 21.00 on 19 June 2026. No extensions will be granted.
6. Daily Limits
The maximum amount of TOKEN that may be acquired per attendee per Event day is equivalent to EUR 50 (excluding any TOKEN denominated prizes won at the Event). In exceptional circumstances, a supervisor-approved top-up of up to EUR 200 per day may be permitted at our sole discretion. Equivalent redemption limits apply (again excluding TOKEN denominated prizes won at the Event, which may be redeemed in addition to the specified limits).
7. Limitation of Liability
7.1 The provisions in the Ticket Ts&Cs shall apply to limit W3F’s liability. In addition: (i) W3F is not liable for loss of TOKEN resulting from loss of access to your in-app wallet, device failure, or failure to cash out before the closing time specified above; (ii) W3F is not liable for the quality, availability, or fitness for purpose of goods and services provided by registered vendors; and (iii) W3F is not responsible or liable for any prize draws or similar initiatives organised by third parties at the Event. Each vendor is solely responsible for the goods and services it provides.
7.2 We are not responsible for events or circumstances outside of our control that disrupt your use of TOKEN or which result in losses of TOKEN. We make no warranties regarding and accept no liability in connection with the continuous availability or error-free operation of TOKEN at the Event.
9. Data Protection and Privacy
Use of TOKEN at the Event is designed to minimise requirements for processing of personal data. See the W3F Data Privacy Notice here
10. Other Provisions
10.1 Force Majeure. W3F shall not be liable for any loss, cost, or damage arising from or in connection with a Force Majeure Event, including but not limited to any inability to use TOKEN or to access goods and services at the Event.
10.2 Prohibited Conduct: In addition to the restrictions set out in Section 4, you shall not: (a) attempt to manipulate, exploit, or interfere with the TOKEN smart contract, the underlying blockchain network, or any component of the TOKEN system; (b) submit fraudulent, duplicative, or otherwise improper cash-out requests; (c) use automated scripts, bots, or other tools to interact with the TOKEN system in an unauthorised manner; (d) impersonate another attendee, use another attendee's wallet without authorisation or artificially generate fake attendee credentials; or (e) engage in any other conduct that W3F reasonably determines to be abusive, fraudulent, or detrimental to the integrity of the TOKEN system or the Event.
10.3 In the event of a breach or suspected breach of Section 10.2, W3F may, at its sole discretion and without prior notice: (a) forfeit any remaining TOKEN balance in your wallet or other impacted wallets without compensation; (b) refuse to process any pending cash-out request; and (c) exclude you from further participation in the TOKEN system at the Event. These remedies are without prejudice to any other rights or remedies available to W3F under these T&Cs or applicable law.
10.4 Governing Law, Jurisdiction and General Provisions. The provisions of the Ticket Purchase Ts&Cs (https://web3summit.com/tickets/terms-and-conditions/) shall also apply to these Ts&Cs, including in relation to governing law and jurisdiction.
10.5 No right to withdraw. Given the nature of the TOKEN, there is no statutory right for you to withdraw (Widerruf) from your TOKEN purchase after it is concluded.
10.6 Amendments. W3F may amend these Ts&Cs during the Event where necessary to comply with applicable law, to address security vulnerabilities, or to correct manifest errors. Any such amendment will be communicated. Your continued use of TOKEN after notification of an amendment constitutes acceptance of the amended Ts&Cs.