Terms of Service

Welcome to FanFolio, a sports stock trading simulator operating under a sweepstakes model. FanFolio provides an entertainment platform where users can purchase, trade, and manage virtual stocks representing real-world sports teams (the "Service"). The Service is operated by FanFolio ("we," "us," or "our") and includes the FanFolio website, mobile application, and all related services.

By creating an account and accessing or using the Service, you ("you" or "user") acknowledge that you have read, understood, and agree to be bound by these Terms of Service ("Terms") and our Privacy Policy, which is incorporated herein by reference. If you do not agree to these Terms, you must not access or use the Service.

You must be at least eighteen (18) years of age to create an account and use the Service. By using the Service, you represent and warrant that you meet this age requirement.

The following terms have specific meanings throughout these Terms of Service:

• FanCoins: An entertainment currency used within the Service. FanCoins have no real-money value and cannot be redeemed for cash, cryptocurrency, or any other form of consideration. FanCoins are used for entertainment purposes only.
• FanCash (FC): A redeemable virtual currency that can be converted to USDC (a USD-pegged stablecoin), subject to the redemption requirements described in these Terms. FanCash is earned as a bonus with FanCoin purchases and through trading activity on the platform.
• Packs: Bundles of sports team stocks within a specific universe. Packs are purchased using FanCash and contain a randomized selection of stocks.
• Universe: A distinct market consisting of teams from a specific league or tournament. Each universe operates as an independent trading environment with its own set of stocks.
• Stocks: Virtual shares representing sports teams within a universe. Stocks are not securities and do not represent ownership in any real-world entity.
• Wallet: Your financial hub within the Service, used for purchasing FanCoins, managing FanCash balances, and requesting redemptions.
• Redemption: The process of converting FanCash to USDC, which is then transferred to your external cryptocurrency wallet, subject to verification and approval requirements.
• Purchase: The act of buying FanCoins with real money (USDC). Each purchase includes a bonus allocation of FanCash.

To use the Service, you must register for an account by providing accurate, current, and complete information as prompted by the registration process. You agree to maintain and promptly update your account information to keep it accurate and complete. Providing false, misleading, or outdated information may result in the suspension or termination of your account.

One Account Per Person

Each individual is permitted to maintain only one account on the Service. Creating, operating, or controlling multiple accounts is prohibited and may result in the termination of all associated accounts, forfeiture of balances, and permanent exclusion from the Service.

One Account Per Household

Only one account is permitted per household. Households with multiple individuals wishing to use the Service may contact support for review on a case-by-case basis. Operating multiple accounts from the same household without prior approval is prohibited and may result in account termination.

Access Codes

During limited-availability periods, access to the Service may require a valid access code. Access codes are issued at our sole discretion and may be subject to additional terms or limitations.

FanFolio operates under a sweepstakes model with two distinct virtual currencies:

• FanCoins serve as the entertainment currency of the platform. FanCoins are purchased with real money (USDC) and are used solely for entertainment purposes. FanCoins have no real-money value and cannot be redeemed.
• FanCash (FC) is the redeemable currency. FanCash is received as a free bonus alongside FanCoin purchases and can also be earned through trading activity. FanCash may be redeemed for USDC, subject to the conditions outlined in Section 8 (Redemptions).

Restricted Balance

Certain FanCash balances, including those received through welcome bonuses, promotional offers, or other non-purchase means, may be classified as "restricted balance." Restricted FanCash may only be used to purchase packs and is not eligible for redemption.

No Purchase Necessary

No purchase is necessary to receive FanCash. An alternate method of entry is available to obtain FanCash without making a purchase. Details regarding the alternate method of entry are available upon request and may be updated from time to time.

All purchases on FanFolio are made using USDC, a USD-pegged stablecoin. When you initiate a purchase, you will be provided with a temporarily assigned wallet address to which you must transfer the specified amount of USDC.

• Purchases are subject to minimum amounts and weekly limits, which may be adjusted by FanFolio at any time.
• Purchases do not require identity verification (KYC). However, KYC is required for trading and redemptions as described in Section 9.
• All purchases are processed through Circle and are subject to blockchain confirmation times. FanFolio is not responsible for delays caused by network congestion or other blockchain-related issues.
• We reserve the right to quarantine and investigate any unidentified or suspicious transfers received at wallet addresses associated with the Service. Quarantined funds will not be credited to your account until the transfer has been verified.

Packs

Packs contain a randomized selection of stocks from a specific universe. Pack prices are set on a per-universe basis and are paid for with FanCash. The contents of each pack are determined at the time of opening and are subject to the available stock pool within the relevant universe.

Trading

Users may trade stocks through peer-to-peer limit orders. All trades are executed on the FanFolio platform and are denominated in FanCash. You may place buy and sell orders specifying the price and quantity of stocks you wish to trade. Orders are matched and executed based on the platform's order-matching system.

Universe Types

• League Universes: Based on sports leagues with season-long durations. Stock values and trading activity correspond to the length of the league's season.
• Tournament Universes: Based on specific sporting events or tournaments with defined start and end dates. Trading activity is limited to the duration of the tournament.

Each universe has defined start and end dates. Upon conclusion of a universe, settlement occurs based on the final standings or results of the corresponding real-world league or tournament.

The Service may allow users to engage in short selling, which involves borrowing stocks from other users and selling them with the expectation of buying them back at a lower price.

• Before engaging in short selling, you must acknowledge and accept the associated risk disclosure. Short selling carries significant risk, including the possibility of losses that exceed your initial margin deposit.
• Short sales require an upfront fee paid to the lender. Additionally, lenders may be entitled to a share of profits generated from the short sale, as determined by the platform's lending terms.
• When you open a short position, both your collateral (margin deposit) and the proceeds from the sale are locked and held by the platform until the position is closed.
• FanFolio is not liable for any losses incurred through short selling activity. You acknowledge that short selling is inherently risky and that you are solely responsible for any losses resulting from your short positions.

Eligible users may redeem FanCash for USDC, which will be transferred to an external cryptocurrency wallet address provided by the user. Redemptions are subject to the following conditions:

• Identity verification (KYC) must be completed and approved before any redemption can be processed. See Section 9 for details.
• Redemptions are subject to minimum amounts and weekly limits, which may be adjusted by FanFolio at any time.
• Only one redemption request may be pending at any given time. You must wait for a pending redemption to be processed before submitting a new request.
• All redemption requests are subject to review and approval by FanFolio administrators. We reserve the right to deny or delay any redemption request at our discretion, including for suspected fraud, terms violations, or compliance reasons.
• The maximum redeemable amount is calculated based on a formula that considers your verified purchase history, trading profit and loss, and current portfolio value. This formula is designed to ensure the integrity of the sweepstakes model and may be adjusted at any time.

FanFolio requires identity verification (Know Your Customer, or KYC) for certain platform activities, including trading and processing redemptions.

• Verification requires a valid government-issued photo identification document and a liveness check, processed through our third-party verification provider, ComplyCube.
• Verification statuses include: pending (under review), verified (approved), and declined (not approved).
• If your verification is declined, you may re-attempt the verification process. Repeated declines may be subject to additional review or waiting periods.
• By submitting your information for KYC verification, you consent to the collection, processing, and storage of your identification data as described in our Privacy Policy.

Email verification is required for account activation. You must verify your email address by following the verification link sent to the email address provided during registration. Accounts with unverified email addresses may have limited access to platform features.

Phone verification may be required for access to certain features and rewards. When required, you will receive a verification code via SMS that must be entered on the platform to confirm your phone number.

FanCoins are the entertainment currency of the platform and can be earned through various activities, including:

• Daily Login Rewards: Logging into the Service each day earns FanCoins. Consecutive daily logins activate streak multipliers that increase the amount of FanCoins earned per login.
• Trading Activity: Completing trades on the platform may earn FanCoins based on the volume and frequency of your trading activity.
• Referrals: Successfully referring new users to the platform earns FanCoins as described in Section 12.

FanCoins have no cash value and cannot be redeemed for real money, cryptocurrency, or any other form of consideration. FanCoins are intended solely for entertainment and engagement purposes within the platform.

FanFolio offers a referral program that allows users to invite others to join the platform. Each user is assigned a unique referral code that can be shared with prospective users.

• When a new user registers using your referral code, both you (the referrer) and the new user (the referee) may receive bonuses as determined by the current referral program terms.
• Abuse of the referral program is prohibited, including but not limited to: creating fake accounts to generate referral bonuses, using automated systems to distribute referral codes, or any other activity designed to exploit the referral program.
• FanFolio reserves the right to modify, suspend, or terminate the referral program at any time, and to revoke bonuses obtained through abusive or fraudulent means.

From time to time, FanFolio may offer promotional credits, bonuses, or other incentives. Promotional credits may be added to your restricted balance and are subject to the terms and conditions of the specific promotion.

• Promotional credits classified as restricted balance may only be used to purchase packs and are not eligible for redemption.
• FanFolio reserves the right to revoke any promotional credits or bonuses that were obtained through fraudulent means, technical errors, or violations of the applicable promotion's terms and conditions.
• Promotions may be subject to eligibility requirements, expiration dates, and usage limits as specified in the applicable promotional materials.

You agree not to engage in any of the following prohibited activities:

• Creating, operating, or controlling multiple accounts for a single individual, or assisting others in doing so.
• Engaging in market manipulation, including but not limited to: wash trading, spoofing, layering, or any coordinated activity intended to artificially influence stock prices.
• Using unauthorized automation, bots, scripts, or other programmatic means to interact with the Service without prior written approval from FanFolio.
• Circumventing, or attempting to circumvent, identity verification (KYC) requirements, including submitting falsified identification documents.
• Sharing your account credentials with others or allowing others to access or use your account.
• Accessing or using the Service from jurisdictions where such use is prohibited by applicable law or regulation.
• Interfering with the operation of the Service, including attempting to gain unauthorized access to systems, networks, or data.
• Using the Service for any illegal purpose or in violation of any applicable local, state, national, or international law or regulation.

Violation of any prohibited conduct may result in immediate account suspension or termination, forfeiture of balances, and permanent exclusion from the Service.

User-Initiated Closure

You may request to close your account at any time by contacting support. Before your account can be closed, you must cancel all open orders and resolve any outstanding balances or pending transactions. Any remaining FanCash balance eligible for redemption must be redeemed prior to closure. FanCoins remaining in a closed account are forfeited.

Company-Initiated Termination

We reserve the right to suspend or terminate your account at any time and for any reason, including but not limited to: violations of these Terms, suspected fraud, regulatory compliance requirements, or extended periods of inactivity. We will make reasonable efforts to notify you of any termination, but we are not obligated to do so.

Dormant Accounts

An account is considered dormant if you have not logged in or conducted any activity — including trades, purchases, redemptions, or other transactions — for a period of twelve (12) consecutive months. We will attempt to notify you via the email address on file at least thirty (30) days before taking action on a dormant account.

If your account remains dormant after the notification period, we reserve the right to close the account and forfeit all remaining balances, including FanCoins and FanCash. Dormant account balances are not eligible for redemption after closure. It is your responsibility to maintain an active account and keep your contact information current to receive any notices.

Effects of Closure

Once an account is closed, whether by user request or company action, it cannot be reopened. You may not create a new account after your account has been terminated for violations of these Terms.

All content, features, and functionality of the Service, including but not limited to: text, graphics, logos, icons, images, audio, video, software, and the overall design and layout of the platform, are the exclusive property of FanFolio or its licensors and are protected by copyright, trademark, and other intellectual property laws.

You are granted a limited, non-exclusive, non-transferable, revocable license to access and use the Service for personal, non-commercial purposes in accordance with these Terms. This license does not include the right to reproduce, distribute, modify, create derivative works from, publicly display, or otherwise exploit any content from the Service without prior written consent from FanFolio.

You acknowledge and agree that you do not acquire any ownership rights in FanCoins, FanCash, stocks, or any other virtual currencies or items on the platform. All virtual currencies and items are licensed to you, not sold, and remain the property of FanFolio.

THE SERVICE IS PROVIDED ON AN "AS IS" AND "AS AVAILABLE" BASIS WITHOUT WARRANTIES OF ANY KIND, WHETHER EXPRESS, IMPLIED, STATUTORY, OR OTHERWISE. FANFOLIO SPECIFICALLY DISCLAIMS ALL IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE, AND NON-INFRINGEMENT.

FanFolio does not guarantee that the Service will be uninterrupted, secure, or error-free. We are not responsible for any losses, damages, or costs arising from:

• Trading losses or unfavorable outcomes resulting from your use of the Service.
• Blockchain delays, network congestion, smart contract failures, or other issues related to cryptocurrency transfers.
• Unauthorized access to your account due to your failure to safeguard your credentials.
• Any interruption or cessation of the Service, whether temporary or permanent.

THE SERVICE IS NOT FINANCIAL ADVICE. FANFOLIO IS NOT A SECURITIES EXCHANGE, BROKER-DEALER, OR INVESTMENT ADVISER. NOTHING ON THE PLATFORM CONSTITUTES A RECOMMENDATION OR SOLICITATION TO BUY, SELL, OR HOLD ANY SECURITY OR FINANCIAL INSTRUMENT. ALL TRADING ACTIVITY ON THE PLATFORM IS FOR ENTERTAINMENT PURPOSES ONLY.

TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, FANFOLIO'S TOTAL LIABILITY TO YOU FOR ANY CLAIMS ARISING OUT OF OR RELATING TO THESE TERMS OR THE SERVICE SHALL NOT EXCEED THE TOTAL AMOUNT OF PURCHASES YOU HAVE MADE ON THE PLATFORM IN THE TWELVE (12) MONTHS PRECEDING THE EVENT GIVING RISE TO THE CLAIM.

These Terms and any disputes arising out of or relating to these Terms or the Service shall be governed by and construed in accordance with applicable law, without regard to conflict of law principles.

Any dispute, claim, or controversy arising out of or relating to these Terms or the Service that cannot be resolved through informal negotiation shall be resolved through binding arbitration, conducted on an individual basis. You agree that any arbitration shall be limited to the dispute between you and FanFolio individually, and shall not be consolidated with any other proceedings.

YOU AGREE TO WAIVE YOUR RIGHT TO PARTICIPATE IN A CLASS ACTION LAWSUIT OR CLASS-WIDE ARBITRATION. YOU ACKNOWLEDGE THAT YOU ARE GIVING UP YOUR RIGHT TO A JURY TRIAL AND TO PARTICIPATE IN CLASS PROCEEDINGS.

Before initiating any formal dispute resolution proceeding, you agree to first contact FanFolio through our support page and attempt to resolve the dispute informally for at least thirty (30) days.

FanFolio reserves the right to modify, amend, or replace these Terms at any time at our sole discretion. When we make material changes to these Terms, we will notify you by posting the updated Terms on the Service and updating the "Effective Date" at the top of this page. For significant changes, we may also provide additional notice through email or an in-app notification.

Your continued use of the Service after the effective date of any changes constitutes your acceptance of the revised Terms. If you do not agree to the updated Terms, you must stop using the Service and close your account.

If you have any questions, concerns, or feedback regarding these Terms of Service, please visit our Support page.