Global PYUSD Portal Hackathon
NO PURCHASE NECESSARY TO ENTER OR CLAIM PRIZE. A PURCHASE WILL NOT INCREASE YOUR CHANCES OF WINNING.
THESE OFFICIAL RULES CONTAIN AN ARBITRATION AGREEMENT, WHICH WILL, WITH LIMITED EXCEPTION, REQUIRE YOU TO SUBMIT CLAIMS YOU HAVE AGAINST ADMINISTRATOR (AS DEFINED BELOW) TO BINDING AND FINAL ARBITRATION. UNDER THE ARBITRATION AGREEMENT, (1) YOU WILL ONLY BE PERMITTED TO PURSUE CLAIMS AGAINST SPONSOR ON AN INDIVIDUAL BASIS, NOT AS A PLAINTIFF OR CLASS MEMBER IN ANY CLASS OR REPRESENTATIVE ACTION OR PROCEEDING, AND (2) YOU WILL ONLY BE PERMITTED TO SEEK RELIEF (INCLUDING MONETARY, INJUNCTIVE, AND DECLARATORY RELIEF) ON AN INDIVIDUAL BASIS.
1. Contest Overview.
The Global PYUSD Hackathon, presented by Portal labs, Inc. is an innovation challenge in which winners are determined solely on the basis of skill. The objective of the Contest is to leverage PYUSD on Solana’s platform to build solutions and experiment with blockchain technology. The Contest requires competence in the areas of design/UX, development, and understanding of the Solana platform.
2. Definitions.
“Administrator” means Organizing Committee (Portal Labs, Inc.).
“Host” means the Portal.
“Content” means all materials, submissions, info, code, or otherwise submitted by Entrant hereunder.
“Contest” means The Global PYUSD Hackathon.
“Contest Sponsor” means a promotional sponsor of the Contest that is procured by the Administrator.
“Creative Materials” means Contest-related marketing materials, which the Administrator may produce based upon the Contest and which may include Entrant’s name, image, likeness, and Content.
“Entrant” means an Individual that meets the applicable eligibility requirements set forth in Section 3 of these Official Rules and that signifies agreement to these Official Rules in full, and participates in the Contest.
“Project Submission” means the work product that an Entrant submits for entry into the Contest.
“Immediate Family” means an Individual who is a spouse, parent, sibling, child, or household member.
“Individual” means a natural person.
“IRS” means the Internal Revenue Service, which is the tax authority for the United States.
“Member” means an Individual participating in the Contest as part of a Team.
“Prize Acceptance Documents” means any document required to be executed by Administrator as described in the Official Rules by a potential winner prior to being confirmed and validated as a winner in the Contest.
“Profile Information” means the information, including personal information, required to enter the Contest. This information may be used to identify an Individual.
“Released Parties” means the Administor, Host, judges, participating vendors of the Administrator, and their respective subsidiaries, affiliates, suppliers, distributors, advertising/promotion agencies, and prize suppliers, and each of their respective parent companies and each such company’s officers, directors, employees and agents.
“Team” means a group of Individuals, including a Team Leader, who participate together in the Contest.
“Team Leader” means the Individual who provides the Profile Information of Members of the Team and acts as the contact and representative for the Team.
3. Eligibility.
The Contest is open to Individuals who meet all of the following requirements:
(a) Individuals who are the age of majority in their country or residence or at least 18 years of age, whichever is older as of the start of the Contest. If an Individual does not satisfy this age requirement but is still interested in participating, please reach out to pyusddevelopers@portalhq.io and the Administrator will make a determination on a case-by-case basis in its sole discretion.
(b) Exclusions: Due to heightened U.S., UN, EU, and other sanctions and export control regulatory compliance risks or other restrictions, the following are not eligible: (i) persons located or ordinarily resident in: Afghanistan, Belarus, Cuba, Iran, North Korea, Russia, Somalia, Syria, the Crimea/Sevastopol, Donetsk, Luhansk, Zaporizhzhia and Kherson regions of Ukraine, Venezuela, and Yemen, or temporary or permanent residents of any country in which the Contest participation is prohibited by law or would impose undue hardship on either the Individual and/or the Administrator based on applicable national or multinational jurisdiction export control or sanctions restrictions; (ii) an Individual subject to U.S. or other applicable sanctions, including those imposed by the U.S. Office of Foreign Assets Control; (iii) an Individual employed by an entity which is subject to U.S. blocking sanctions, Entity List restrictions, or other applicable asset freeze or prohibited party sanctions; and (iii) persons located or ordinarily resident in China can participate but are not eligible to receive the PYUSD prize; and (iv)employees, contractors, directors and officers of the Administrator, Contest Sponsors, or any of their subsidiaries, affiliates and agents, as well as the Immediate Family of each such employee. (c) Employer/Entity Permission/Acknowledgement – Individuals hereby represent and warrant that their participation in the Contest will not violate any third-party rights or obligations, including without limitation policies or procedures of an employer or contractual obligations to or restrictions of an employer or other third party. (d) Void where prohibited.
4. General Conditions of Participation.
(a) By clicking on the Official Rules checkbox at registration, Entrant signifies Entrant’s acceptance of these Official Rules in their entirety. Receipt of any prize offered in this Contest is dependent upon Entrant’s compliance in full with these Official Rules.
(b) Entrant agrees that Administrator’s decisions as to the determination of winners are final and binding.
(c) Administrator seeks no promises or favoritism for itself or any of its related companies or affiliates in exchange for the opportunity to participate in the Contest. By entering the Contest, Entrant represents, warrants, and agrees that (i) Entrant’s participation in the Contest – including acceptance of any prize – will not violate any law, regulation, policy or rule in Entrant’s country, state, province, or local municipal location; and (ii) any potential prize is not in exchange for an agreement to influence a recent, pending or anticipated act or decision that may result in Administrator obtaining or retaining business or a business advantage.
(d) To the extent permitted under applicable law, Entrant agrees that the Administrator may cancel, suspend and/or modify the Contest, or any part of it, if any fraud, technical failures, human error or any other factor impairs the integrity or proper functioning of the Contest.
(e) Entrant agrees that Administrator may disqualify any Entrant it finds to be tampering with the operation of the Contest or to be acting in violation of the Official Rules or in an unsportsmanlike or disruptive manner. Any attempt by any Entrant to deliberately undermine the legitimate operation of the Contest may be a violation of the law, and Administrator reserves all rights to seek damages and other remedies (including attorneys’ fees) from any such Entrant to the fullest extent permitted by law.
(f) Administrator is not responsible for incorrect or inaccurate entry information or Content submitted by Entrant whether caused by Internet users or by any of the equipment or programming associated with or utilized in the Contest or by any technical or human error which may occur in the administration of the Contest.
(g) Entrant agrees that the Administrator may change or modify these Official Rules at any time in its sole discretion. Administrators will use reasonable efforts to notify Entrants of such changes and modifications.
5. Timing.
The Entry Period starts at 6:00am PT on August 12, 2024 and ends at 11:59pm PT on September 16, 2024. The winners will be announced by September 30, 2024. Administrator’s computer is the official time-keeping device for the Contest. Entrant is responsible for determining the corresponding time in his, her, or its jurisdiction. If any date is changed, Administrators will post the changes on the Contest site. Please check the site regularly.
6. Registration and Submission.
(a) Individual Registration – In order to participate in the Contest, each Member must visit and register at TBD before 11:58pm PT on August 19, 2024 and provide the requested information. After 11:59pm PT on August 19, 2024, the individual registration form will be disabled and any Member who does not provide the requested information to the Adminstrator’s reasonable satisfaction before then will be disqualified.
(b) Registration of a Team – Each Team member must visit TBD to register for the Contest and the team leader must upload the Project Submission before the end of the Entry Period.
(c) An Entrant’s failure to provide Profile Information and provide express consent in accordance with this Section is grounds for disqualification from the Contest.
(d) The Profile Information must conform to the guidelines and content restrictions set forth below in Section 12. Failure to conform constitutes grounds for disqualification. Administrator reserves the right to require a Team to modify its name as needed to conform to the guidelines and content restrictions set forth in Section 12, or to otherwise avoid confusion.
7. Limits:
Entrants may only be a Member of one (1) Team. A Team may submit no more than (3) Project Submissions at a time. Entrants should not assume any right of confidentiality in any data or information divulged related to his, her, or its Project Submission and/or Profile Information.
8. Winner Determination:
Each Project Submission will be judged by a panel of judges determined by Administrator in accordance with the following criteria:
(a) Functionality: How well does this Project Submission work? What is the quality of the code?
(b) Payments Applicability: How effectively does the solution address real-world payment challenges?
(c) Novelty: How unique is this Project Submission’s concept?
(d) UX: How well does this Project Submission utilize PYUSD’s performance and unique proposition to create great UX for downstream users?
(e) Open-source: Is this Project Submission open-source? How well does the Project Submission compose with other primitives in the Solana ecosystem?
(f) Business Plan: Is there a viable business that can be built in the future around this Submission?
9. Intellectual Property Retained by Entrant:
Administrator does not claim ownership of any Project Submission. At all times during and after the Contest, Entrants retain any intellectual property rights they may have that are contained in and to their Project Submission. The protection of such intellectual property is the sole responsibility of the Entrant. Entrants should ensure that third parties do not have rights or claims on information or software programming language included in Entrant’s Project Submission. Entrants agree to inform the Administrator of the status and ownership of any open-source or other third party code, intellectual property filings, or searches related to their Project Submission. Further, each Entrant agrees not to submit any Project Submission that (i) infringes any third party proprietary rights, intellectual property rights, industrial property rights, personal or moral rights or any other rights, including without limitation, copyright, trademark, patent, trade secret, privacy, publicity or confidentiality obligations; or (ii) otherwise violates the applicable state, federal, provincial or local law
10. Intellectual Property Retained by Administrator:
Administrator shall, at all times, retain all rights, title, and interest, in and to any Creative Materials.
11. Entrant’s Personal Information:
Except as set forth herein, all information submitted by Entrant in the Contest will be treated according to the Administrator’s Privacy Policy, available for review online at https://www.paypal.com/us/legalhub/privacy-full.
12. Content Guidelines & Restrictions:
All Content must comply with the guidelines and restrictions stated below.
(a) Technical Guidelines and Restrictions:
(i) All Content must be in English;
(b) Content Restrictions:
(i) Entrant owns or otherwise has all rights in the Profile Information necessary to participate in this Contest and to grant the rights to Administrator required herein;
(ii) All Content must not contain material that violates or infringes another’s rights, including without limitation, intellectual property rights infringement, privacy, or publicity; (iii) All Content must not disparage or adversely affect the name, brand image, reputation or goodwill of Administrator or any other person or party affiliated with the Contest;
(iv) Entrant must have permission from all Individuals that appear in any Content (if any) to use their name and likeness and to grant the rights set forth herein;
(v) All Content submitted must not contain any viruses, worms, spy ware, or other components or instructions that are malicious, deceptive, or designed to limit or harm the functionality of a computer;
(vi) All Content must not contain material that is inappropriate, indecent, obscene hateful, tortious, defamatory, slanderous or libelous;
(vii) All Content must not contain material that promotes bigotry, racism, hatred or harm against any group or Individual or promotes discrimination based on race, gender, religion, nationality, disability, sexual orientation or age; and (viii) All Content must not contain material that is unlawful, in violation of or contrary to the laws or regulations in any country where Content is created or that violates the terms and conditions of any third-party video platform to which content has been uploaded.
13. Winner Announcement and Requirements.
The winners will be announced on or about September 30, 2024. Winning is contingent upon the execution of Prize Acceptance Documents and/or any other documents that Administrator and/or the Contest Sponsors require and passing of the due diligence requirements of the Administrator and/or the Contest Sponsors.
14. Prizes (values stated before taxes, if applicable):
(a) Grand Champion: $15,000 PYUSD;
(b) Near Perfection (Runner Up): $10,000 PYUSD;
(c) Innovation Champion: $5,000 PYUSD;
(d) Popular Choice Award: $3,500 PYUSD;
(e) Consumer Knows Best/Customer Back (Consumer Applications): $3,500 PYUSD;
(f) Cha-ching! (DeFi, Trading): $3,500 PYUSD
15. Taxes and Other Restrictions and Limitations:
(a) Stated prize values do not include taxes or other fees that may be due on the winner's receipt of a prize.
(b) All prizes, including cash or cash equivalent, will be provided to the wallet address submitted at the time of registration. Each winning team may be required to set up a wallet address, as directed by the Administrator, in order to receive the cash component of the prize.
(c) The prizes are non-transferable and no substitution is permitted, except with the express permission of the Administrators.
(d) Without limiting any of the prize exclusions set forth in this Section, winners are responsible for all tax reporting and payments that may be required under the laws of their respective jurisdictions.
(e) By receipt of any prize, to the extent permitted by applicable law, winners release and hold harmless Administrator and Released Parties from and against any claim or cause of action, including, but not limited to, damage to or loss of property, arising out of participation in the Contest or receipt or use or misuse of any prize. This release does not apply to claims against Administrator or the Released Parties for damages because of personal injury or death, and to claims for damages in case of intent or gross negligence by Administrator or the Released Parties.
(f) If a prize, or any portion thereof, cannot be awarded for any reason, Administrator reserves the right to substitute the prize with another prize of equal or greater value.
(g) Nothing in these Official Rules is intended to exclude, restrict, or modify an Entrant’s rights under applicable consumer laws.
16. Not an Offer of Employment:
Nothing in these Official Rules is an offer or contract of employment of any kind with any Individual. Entrant acknowledges that Entrant’s Profile Information and Project Submission have been submitted voluntarily and not in confidence or in trust. Entrant acknowledges that no confidential, fiduciary, agency or other relationship or implied-in-fact contract now exists between Entrant and Administrator or any of the Released Parties and that no such relationship is established by submission of any Content pursuant to these Official Rules.
17. Entrant Behavior:
During the Contest, Entrants may be subject to background checks in Administrator’s sole and absolute discretion. If Entrants are sponsored by any third parties, including any brands, such sponsors must be approved in advance and in writing by the Administrators. Entrants shall not use, or permit others (including their sponsors) to use Administrator’s trademarks, logos or other intellectual property without the advance written consent of the Administrators.
18. Limitations of Liability:
To the extent permitted under applicable law, Administrator and Released Parties are not liable for: (1) any incorrect or inaccurate information, whether caused by Entrant, printing, typographical or other errors, or by any of the equipment or programming associated with or utilized in the Contest; (2) technical failures of any kind, including without limitation, malfunctions, interruptions, or disconnections in phone lines or network hardware or software; (3) unauthorized human intervention in any aspect of the Contest; (4) late, lost, undeliverable, damaged or stolen mail or other communications; (5) any other claims of damages arising from participation in this promotion or acceptance or use of prizes; and (6) any claims by an Entrant that his or her or its Profile Information or Project Submission or any Content is similar to or competitive with technologies or products independently developed by Administrator or received by Administrator from third parties, including from other Entrants.
19. Arbitration Agreement
PLEASE READ THIS SECTION CAREFULLY AS IT AFFECTS YOUR RIGHTS.
- Agreement to Arbitrate: This Section is referred to in these Official Rules as the “Arbitration Agreement.” You agree that any and all disputes or claims that have arisen or may arise between you and the Sponsor, whether arising out of or relating to these Official Rules, the Contest, your participation in the Contest, the prize, acceptance, possession, use or misuse of the prize, any advertising, or any aspect of the relationship between us, will be resolved exclusively through final and binding arbitration, rather than a court, in accordance with the terms of this Arbitration Agreement, except that you may assert individual claims in small claims court, if your claims qualify. Further, this Arbitration Agreement does not preclude you from bringing issues to the attention of federal, state or local agencies, and such agencies can, if the law allows, seek relief against us on your behalf. You agree that, by participating in the Contest, you and the Sponsor are each waiving the right to a trial by jury or to participate in a class action. Your rights will be determined by a neutral arbitrator, not a judge or jury. The Federal Arbitration Act governs the interpretation and enforcement of this Arbitration Agreement.
- Prohibition of Class and Representative Actions and Non-Individualized Relief: YOU AND THE SPONSOR AGREE THAT EACH OF US MAY BRING CLAIMS AGAINST THE OTHER ONLY ON AN INDIVIDUAL BASIS AND NOT AS A PLAINTIFF OR CLASS MEMBER IN ANY PURPORTED CLASS OR REPRESENTATIVE ACTION OR PROCEEDING. UNLESS BOTH YOU AND THE SPONSOR AGREE OTHERWISE, THE ARBITRATOR MAY NOT CONSOLIDATE OR JOIN MORE THAN ONE PERSON’S OR PARTY’S CLAIMS AND MAY NOT OTHERWISE PRESIDE OVER ANY FORM OF A CONSOLIDATED, REPRESENTATIVE, OR CLASS PROCEEDING. ALSO, THE ARBITRATOR MAY AWARD RELIEF (INCLUDING MONETARY, INJUNCTIVE, AND DECLARATORY RELIEF) ONLY IN FAVOR OF THE INDIVIDUAL PARTY SEEKING RELIEF AND ONLY TO THE EXTENT NECESSARY TO PROVIDE RELIEF NECESSITATED BY THAT PARTY’S INDIVIDUAL CLAIM(S).
- Pre-Arbitration Dispute Resolution: The Sponsor is always interested in resolving disputes amicably and efficiently, and most participant concerns can be resolved quickly and to the participant’s satisfaction by emailing the Sponsor’s support team at PYUSDdevelopers@portalhq.io. If such efforts prove unsuccessful, a party who intends to seek arbitration must first send to the other, by certified mail, a written Notice of Dispute (“Notice”). The Notice to the Sponsor should be sent to Portal Labs Inc, 548 Market Street PMB 25754 San Francisco, CA 94102(“Notice Address”). The Notice must (i) describe the nature and basis of the claim or dispute and (ii) set forth the specific relief sought. If the Sponsor and you do not resolve the claim within sixty (60) calendar days after the Notice is received, you or the Sponsor may commence an arbitration proceeding. During the arbitration, the amount of any settlement offer made by the Sponsor or you will not be disclosed to the arbitrator until after the arbitrator determines the amount, if any, to which you or the Sponsor is entitled.
- Arbitration Procedures: Arbitration will be conducted by a neutral arbitrator in accordance with the American Arbitration Association’s (“AAA”) rules and procedures, including the AAA’s Supplementary Procedures for Consumer-Related Disputes (collectively, the “AAA Rules”), as modified by this Arbitration Agreement. For information on the AAA, please visit its website, http://www.adr.org. Information about the AAA Rules and fees for consumer disputes can be found at the AAA’s consumer arbitration page, http://www.adr.org/consumer_arbitration. If there is any inconsistency between any term of the AAA Rules and any term of this Arbitration Agreement, the applicable terms of this Arbitration Agreement will control unless the arbitrator determines that the application of the inconsistent Arbitration Agreement terms would not result in a fundamentally fair arbitration. The arbitrator must also follow the provisions of these Official Rules as a court would. All issues are for the arbitrator to decide, including, but not limited to, issues relating to the scope, enforceability, and arbitrability of this Arbitration Agreement. Although arbitration proceedings are usually simpler and more streamlined than trials and other judicial proceedings, the arbitrator can award the same damages and relief on an individual basis that a court can award to an individual under these Official Rules and applicable law. Decisions by the arbitrator are enforceable in court and may be overturned by a court only for very limited reasons.
Unless the Sponsor and you agree otherwise, any arbitration hearings will take place in a reasonably convenient location for both parties with due consideration of their ability to travel and other pertinent circumstances. If the parties are unable to agree on a location, the determination will be made by AAA. If your claim is for $10,000 or less, the Sponsor agrees that you may choose whether the arbitration will be conducted solely on the basis of documents submitted to the arbitrator, through a telephonic hearing or by an in-person hearing as established by the AAA Rules. If your claim exceeds $10,000, the right to a hearing will be determined by the AAA Rules. Regardless of the manner in which the arbitration is conducted, the arbitrator will issue a reasoned written decision sufficient to explain the essential findings and conclusions on which the award is based.
- Costs of Arbitration: Payment of all filing, administration, and arbitrator fees (collectively, the “Arbitration Fees”) will be governed by the AAA Rules, unless otherwise provided in this Arbitration Agreement. Any payment of attorneys’ fees will be governed by the AAA Rules.
- Confidentiality: All aspects of the arbitration proceeding, and any ruling, decision, or award by the arbitrator, will be strictly confidential for the benefit of all parties.
- Severability: If a court or the arbitrator decides that any term or provision of this Arbitration Agreement other than clause (b) above is invalid or unenforceable, the parties agree to replace such term or provision with a term or provision that is valid and enforceable and that comes closest to expressing the intention of the invalid or unenforceable term or provision, and this Arbitration Agreement will be enforceable as so modified. If a court or the arbitrator decides that any of the provisions of clause (b) is invalid or unenforceable, then the entirety of this Arbitration Agreement will be null and void. The remainder of these Official Rules will continue to apply.
20. Severability:
If the application of any provision of these Official Rules to any particular facts or circumstances shall for any reason be held to be invalid, illegal or unenforceable by a court, arbitration panel or other tribunal of competent jurisdiction, then
(a) the validity, legality and enforceability of such provision as applied to any other particular facts or circumstances, and the other provisions of these Official Rules, shall not in any way be affected or impaired thereby; and (b) such provision shall be enforced to the maximum extent possible. In addition, if any provision contained in these Official Rules shall for any reason be held to be excessively broad as to duration, geographical scope, activity or subject, it shall be construed by limiting and reducing it, so as to be enforceable to the extent compatible with applicable law. Administrator’s failure to enforce any term of these Official Rules shall not constitute a waiver of that provision.
21. Publication of Winners:
For a list of winners, visit pyusd.portalhq.io