The Grantcoin Foundation is a U.S.-based tax-exempt nonprofit organization, officially recognized by the IRS as a 501(c)(3) public charity. The Foundation was gifted by its founders with a supply of digital tokens called Grantcoin, and intends to give most of these tokens away as charitable grants consistent with its mission and purpose. The Foundation may sell a small percentage of the tokens to help pay for administrative expenses (e.g. personnel, technology, marketing, legal, etc.), if necessary to supplement funds received from charitable donations.
Ownership of Grantcoin does not entitle the owner to any membership, voting rights, or other benefits, institutional, financial or otherwise, in or from the Grantcoin Foundation or any affiliated organization, nor is it a condition thereof.
Neither the Grantcoin Foundation nor its founders, directors, officers, staff, or advisors, make any claims about the value of Grantcoin or any potential financial gains therefrom. As with other assets, the value of Grantcoin is decided by the free market, and owners individually shoulder all financial risk associated with their ownership of Grantcoin and accept the possibility that its value could decline or even become worthless, at any time, for any reason.
The Grantcoin Foundation is not liable for any loss of Grantcoin that might occur through use of software, apps, or web-based services provided for free by the Foundation or by any third party, and users accept the risks and take responsibility for their own use of such products and services.