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TOKYO, Japan, July 5th, 2024/Chainwire/--$DOP, the token of the Data Ownership Protocol(DOP) will be available for trading in 7 major cryptocurrency exchanges such as Bybit, Kucoin, HTX, Bitfinex, Gate.io, MEXC and WhiteBIT starting July 5th, 2024. The Data Ownership Protocol clarified that on Bybit, the token will be listed as $DOP1 to avoid confusion with an existing fiat coin. On KuCoin, Gate.io, Bitfinex, MEXC, and WhiteBIT, the token will be listed as $DOP. DOP launched its mainnet six weeks ago, following a highly successful testnet phase that saw participation from 2.67 million users. In the last six months, the DOP ecosystem has grown significantly. Over 1 million DOP wallets have been opened, and assets worth more than 10 million USD have been encrypted using the protocol, showcasing the increasing demand for user-centric data ownership solutions. “$DOP is the token of Data Ownership Protocol, a project that seeks to balance transparency and privacy on the blockchain, putting users in control of their data. The listing of our utility token marks a significant milestone and enhances our vision for the future of data ownership. We are thankful to our supporters and community who have believed in our mission from day one”, said Kohji Hirokado, co-founder of DOP and ex-core member at Cardano. Currently, the $DOP token serves two primary functions within the ecosystem: facilitating fee payments and granting community rewards. The usage of the protocol's data ownership features incurs fees payable in DOP tokens, creating a native demand for the token. This system incentivizes DOP token retention while implementing a deflationary mechanism through fee burning. It also rewards network supporters via staking distributions. To date, 210,000,000 DOP tokens have been allocated for staking rewards, with over 1.1 billion DOP tokens already staked. The listing announcement comes on the heels of Bybit's positioning as the world's second-largest cryptocurrency exchange by trading volume, surpassing Coinbase and trailing only Binance. Bybit's ascent has been remarkable, with its market share doubling from 8% to 16% since October 2023. To communicate the plans for the second half of 2024, DOP released a new roadmap following Q1's success. The plan introduces a $5 million developer grant program, expands protocol capabilities, and plans deployment on EVM-compatible chains beyond Ethereum, reducing gas fees and reaching more users. Moreover, the new developer SDK will enable developers to easily integrate and build dApps within the DOP ecosystem. Other objectives aim to enhance user security for managing NFTs by expanding functionality beyond ERC-20 tokens to include encryption and decryption of NFTs. About Data Ownership Protocol (DOP) The Data Ownership Protocol enables users to own their data. In crypto, financial data such as holdings, balances, and transaction history is publicly available on the blockchain. The mission of DOP technology is to let users decide what to share and with whom. DOP aims to empower individuals and businesses with more control over their data through selective transparency, utilizing zero-knowledge cryptography and other advanced technologies. For more information, users can visit Data Ownership Protocol's: Official Website | Twitter | Linkedin Data Ownership Protocol is the source of this content. This Press Release is for informational purposes only. The information does not constitute investment advice or an offer to invest. Contact Marketing DOP marketing@dop.org This story was distributed as a release by Chainwire under HackerNoon’s Business Blogging Program. Learn more about the program here. TOKYO, Japan, July 5th, 2024/Chainwire/-- $DOP, the token of the Data Ownership Protocol(DOP) will be available for trading in 7 major cryptocurrency exchanges such as Bybit, Kucoin, HTX, Bitfinex, Gate.io, MEXC and WhiteBIT starting July 5th, 2024. TOKYO, Japan, July 5th, 2024/Chainwire/-- The Data Ownership Protocol clarified that on Bybit, the token will be listed as $DOP1 to avoid confusion with an existing fiat coin. On KuCoin, Gate.io, Bitfinex, MEXC, and WhiteBIT, the token will be listed as $DOP. DOP launched its mainnet six weeks ago, following a highly successful testnet phase that saw participation from 2.67 million users. In the last six months, the DOP ecosystem has grown significantly. Over 1 million DOP wallets have been opened, and assets worth more than 10 million USD have been encrypted using the protocol, showcasing the increasing demand for user-centric data ownership solutions. “$DOP is the token of Data Ownership Protocol, a project that seeks to balance transparency and privacy on the blockchain, putting users in control of their data. The listing of our utility token marks a significant milestone and enhances our vision for the future of data ownership. We are thankful to our supporters and community who have believed in our mission from day one”, said Kohji Hirokado, co-founder of DOP and ex-core member at Cardano. “$DOP is the token of Data Ownership Protocol, a project that seeks to balance transparency and privacy on the blockchain, putting users in control of their data. The listing of our utility token marks a significant milestone and enhances our vision for the future of data ownership. We are thankful to our supporters and community who have believed in our mission from day one”, said Kohji Hirokado, co-founder of DOP and ex-core member at Cardano. Currently, the $DOP token serves two primary functions within the ecosystem: facilitating fee payments and granting community rewards. The usage of the protocol's data ownership features incurs fees payable in DOP tokens, creating a native demand for the token. This system incentivizes DOP token retention while implementing a deflationary mechanism through fee burning. It also rewards network supporters via staking distributions. To date, 210,000,000 DOP tokens have been allocated for staking rewards, with over 1.1 billion DOP tokens already staked. The listing announcement comes on the heels of Bybit's positioning as the world's second-largest cryptocurrency exchange by trading volume, surpassing Coinbase and trailing only Binance. Bybit's ascent has been remarkable, with its market share doubling from 8% to 16% since October 2023. To communicate the plans for the second half of 2024, DOP released a new roadmap following Q1's success. The plan introduces a $5 million developer grant program, expands protocol capabilities, and plans deployment on EVM-compatible chains beyond Ethereum, reducing gas fees and reaching more users. Moreover, the new developer SDK will enable developers to easily integrate and build dApps within the DOP ecosystem. Other objectives aim to enhance user security for managing NFTs by expanding functionality beyond ERC-20 tokens to include encryption and decryption of NFTs. About Data Ownership Protocol (DOP) The Data Ownership Protocol enables users to own their data. In crypto, financial data such as holdings, balances, and transaction history is publicly available on the blockchain. The mission of DOP technology is to let users decide what to share and with whom. DOP aims to empower individuals and businesses with more control over their data through selective transparency, utilizing zero-knowledge cryptography and other advanced technologies. For more information, users can visit Data Ownership Protocol's: Official Website | Twitter | Linkedin Official Website Official Website Twitter Twitter Linkedin Linkedin Data Ownership Protocol is the source of this content. This Press Release is for informational purposes only. The information does not constitute investment advice or an offer to invest. Contact Marketing DOP marketing@dop.org This story was distributed as a release by Chainwire under HackerNoon’s Business Blogging Program. Learn more about the program here. This story was distributed as a release by Chainwire under HackerNoon’s Business Blogging Program. Learn more about the program here . here here

$DOP Announces Listing On 7 Exchanges Including BYBIT, Kucoin, Gate.io, And Bitfinex

What Exactly is a Smart Contract? First introduced in the Ethereum blockchain, smart contracts are a fundamental building block of Web3 and a vital part of the blockchain’s advanced capabilities. They form the foundation for decentralized applications and automated business transactions by creating a level playing field of trust, authority, and authenticity that is already proving to be a paradigm shift in many industries today. Here, we take a look at what smart contracts are, how they work, and the opportunities they unlock for your business. We're going to analyze how they can be used to automate everything from internal business logic to programmable assets, transactions, and tokens. Most importantly, we're going to look at their benefits and limitations, how they're already being used today, and how they're going to evolve in the next few years. A is code hosted and executed on a blockchain network designed to execute a transaction when a set of predetermined conditions are met. Most often, it acts as an automated intermediary that will release funds, create tickets, or ship goods when all parties have met their obligations. In this use case, they answer the questions raised by eliminating third-party intermediaries from transactions and provide an accurate, fast, and tamper-proof way to exchange goods and funds. smart contract More broadly, smart contracts can be used to run any piece of code according to any external conditions at all. For example, they are becoming increasingly important in fields such as health care and logistics to maintain accurate records and updates with no possibility for tampering and fraud at their source. Smart contracts are a game-changing innovation in fields such as finance, health, and logistics because they have no central administrator or single attack vector for malicious parties to interfere with. There can be as many stipulations or requests baked into a smart contract as needed to meet everyone's demands before releasing funds, issuing tickets, or conducting a transaction. Whenever these conditions are met, a smart contract updates the blockchain with the finalized transaction, making the resulting ledger tamper-proof by design. When applied to multi-party digital agreements, smart contracts reduce the risks for all parties, increase efficiency, and provide a level of transparency that changes how we work with business transactions. Creating Smart Contracts As we've defined here, smart contracts are just pieces of code that happen to run on the blockchain. Like any other kind of code, there are about as many languages, conventions, and tools as there are developers available to write smart contracts. Etherium's is still the most popular by far, launching with the blockchain in 2015. However, there are many others worth mentioning for any new use cases you might have for your smart contracts. Solidity These include: . Another language for building Ethereum smart contracts. Vyper is designed to be more secure and easier to maintain than Solidity. In contrast, it has a smaller community and fewer resources to lean on. Vyper . Well-known and highly appreciated as a general-purpose language, Rust has exceptional resources and tooling for working in the blockchain space. Rust . The popularity and use of these languages within blockchain applications show blockchain as an evolution of tried and tested technologies rather than an intimidating shift to computing as we know it. C/C++ . Known for being simple, efficient, and in a league of its own when working with concurrency — Go is an excellent choice for building new kinds of applications using blockchain technologies. Go (GoLang) Any developer can create their smart contracts to deploy to a public blockchain using any language or tool they choose. Some of the most lucrative examples might include a personal yield aggregator that transfers funds to the highest-earning application to maximize returns. As with the rest of the blockchain, there's no authority or gatekeeper barring entry from the resource. A simple smart contract to manage product sales in Solidity might look something like this: pragma solidity 0.8.7;

contract SimpleSale {

    // Declare state variables
    address public owner;
    mapping (address => uint) public inventoryBalance;

    // When 'SimpleSale' contract is deployed:
    // 1. set the deploying address as the owner of the contract
    // 2. set the deployed smart contract's inventoryBalance to 100
    constructor() {
        owner = msg.sender;
        inventoryBalance[address(this)] = 100;
    }

    // Allow the owner to increase the smart contract's inventory
    function refillInventory(uint amount) public {
        require(msg.sender == owner, "Only the owner can refill.");
        inventoryBalance[address(this)] += amount;
    }

    // Allow anyone to purchase producrs
    function purchase(uint amount) public payable {
        require(msg.value >= amount * 1 ether, "You must pay at least 1 ETH per product");
        require(inventoryBalance[address(this)] >= amount, "Not enough inventory in stock");
        inventoryBalance[address(this)] -= amount;
        inventoryBalance[msg.sender] += amount;
    }

} As a trivial example, this smart contract demonstrates how the technology can be used to automate transactions and replace intermediaries in almost any industry. Many smart contracts involve multiple independent parties that have a very limited relationship and even less trust. The smart contract they use to interact will define exactly how, when, and where each party can interact with the transaction and what the results will be for any given input. This creates a multi-party digital agreement that executes automatically when everyone involved in the transaction has met the right conditions. Smart Contracts in Action Some key uses of smart contracts involve automating business processes and transactions between several entities. This means they can automate payments, process flow, and dispute resolutions to create highly efficient processes that minimize time, risk, and costs to every business. For example, a smart contract that governs global supply and trade might have just a couple of simple terms such as: If the product arrives on time, execute payment from retailer to supplier in the full amount. Condition 1: If the product arrives late, then execute partial payment from the retailer to the supplier for 95% of the full amount. Condition 2: Of course, this is a simplified trivial example but there are any number of supplier and customer relationships that can benefit from this technology without relying on intermediate payment processors. Another type of smart contract utilizes decentralized applications that provide interaction across the board without explicitly setting up permissions. Public distributed apps are typically open-source code that can be widely scrutinized to avoid any security concerns. One example of this type of application is a lending/borrowing market that works on the following terms: If a user deposits collateral into a specific smart contract, they will be issued a loan for some value of their posted collateral. Term 1: If the user’s collateralization ratio (collateral/outstanding loan value) drops below 200%, then the user’s collateral is automatically liquidated and transferred to the lender. Term 2: Lenders can deposit funds into a specific contract that other users can borrow from at predefined collateralization ratios, while the lender receives a claim to a portion of the interest rate payments. Term 3: Using these automated methods creates a fair and transparent method of lending that doesn't rely on a third party or central authority with a monopoly on terms and conditions. What this means in practice is that well-designed smart contracts can eliminate counterparty risk, and make it impossible for either party to renege on the terms of a deal, or fail to fulfill their contractual obligations. However, smart contracts are open instead to another kind of risk. Smart contract risk introduces the possibility that the code defining the contract has an inherent flaw or exploit that leads to undesirable outcomes. To guard against this, smart contracts have to be carefully looked over and well-understood by all parties before proceeding with the agreed-upon transaction. Benefits and Limitations to Smart Contracts Smart contracts offer a safer and more verifiable way of creating, maintaining, and upholding agreements in both B2B and B2C spaces. They offer data security and guarantees that can't be made any other way — creating something of a paradigm shift to come. However, the blockchain landscape is still relatively new for many, and smart contracts have yet to be proven at the kind of scale we're used to associating with high degrees of trust and authority. In short, we've still to get to know them fully to understand the risks and advantages they bring to a project. So let's take a look at what they can deliver into the project today and what we should currently guard against before we begin using them. Benefits of Smart Contracts When the conditions of a smart contract are met it is executed immediately without question. By shifting to an automated digital way of working there's no processing time (or fees), time spent checking, fixing, and re-issuing after errors, and nothing is ever lost or broken through manual processing. Speed, efficiency, and accuracy. Without the need to bring a third party into the transaction and an encrypted public record is shared — there's no question over whether documents have been altered or truncated at any stage in the process. Trust and Transparency. Blockchain records are public, shared, and immutable, meaning they can't be changed after the fact and have no single point of weakness. Each record in the chain is connected and verified by the last, making it impossible to change past transactions for malicious gain. Security. Smart contracts don't need intermediaries to execute so there are no fees or costs for handling or verification. As a result, smart contracts are the cheapest and fastest way to handle transactions. Cost-Effective. Limitations of Smart Contracts The strongest security feature of a smart contract is also one of its biggest limitations. By being immutable, any bugs or problems in the code can't be changed at any time after the contract has been issued. Any changes in external conditions or demands of the business can only ever be reflected in a new smart contract. Immutability. It's crucial that all parties involved in a smart contract understand its conditions and know how to scrutinize it. Bugs, whether introduced innocently or maliciously, can have severe consequences when executed. Every party on the contract needs to know how the code works and what it's going to do when executed. Complexity. Most smart contracts rely on external data for their preconditions. However, this data isn't accessible directly on the blockchain. Smart contracts have to rely on external services (oracles) to retrieve information outside the blockchain — introducing an element of third-party trust, reliability, and verification into some smart contracts. Oracle Dependency. Five Key Applications for Smart Contracts In truth, we're only just scratching the surface of what smart contracts can provide for organizations in the future. The creativity, innovation, and capabilities of developers can always be depended on to push the boundaries ever further to build ever more capable solutions to everyday business challenges. Five of the most innovative ways smart contracts are being used in organizations right now include: 1. Decentralised Finance (DeFi) Smart contracts enable decentralized lending, borrowing, and trading without the need for intermediaries within the transaction. There are already a host of DeFi platforms like and set up to allow decentralized transactions using smart contracts today. Compound aave 2. Insurance One of the largest and most profitable industries that smart contracts could revolutionize overnight is insurance. Smart contracts can automatically asses external conditions using known sources and trigger automated payouts or resolve accounts according to the terms of the agreement. The efficiency and guarantees smart contracts can provide for insurance products may well prove to overhaul the industry. 3. Supply Chain Management In contrast, smart contracts can make some of the biggest impacts in logistics. By enabling transparency and accurate accounting in supply chains, smart contracts can provide a level of oversight and tracking otherwise unheard of. Many logistics companies are already using them to track goods from production to distribution with a proven record of cutting down loss and fraud in real-world use. 4. Accurate Admin One of the largely unsung applications of smart contracts is their ability to securely store and manage data over the long term. Unlike traditional methods of increasing data security, smart contracts make data more accessible, easier to access, and more secure at the same time. In fields such as health tech, this has the power to be truly revolutionary by allowing patients both better access and security over highly confidential data. 5. Identity Management Smart contracts are ideal digital custodians to ensure the integrity of confidential information. This is critically important in maintaining and proving your identity, particularly on the web. Smart contract features such as selective disclosure, blockchain verification, and its in-built privacy by design are a paradigm shift in how we manage our online and in-person identities that will shift control of our identities from third-party organizations back to the individual. Learning Smart Contracts As one of the cornerstones of Web 3, smart contracts are set to revolutionize the way you conduct transactions and agreements in every context. The first step to reaching these capabilities is understanding exactly what they are, how to use them, and the way they work in business today. There's little doubt that they will continue to evolve and change over time as blockchain, web3, and future technologies become increasingly relevant within modern business. Understanding these technologies on the ground floor is a great first step towards innovating with them sooner, faster, and more effectively than the competition.

Smart Contracts: What They Are and How They Revolutionize Business

TOPTAL, LLC v. DENIS GROSZ Court Filing, retrieved on February 26, 2024, is part of . You can jump to any part in this filing . This part is 5 of 7. HackerNoon’s Legal PDF Series here B. Repaying Matured Debt is not a Breach The Court agrees with Toptal's interpretation that based on the unambiguous language of the Note and the NPA, principal and accrued interest were due and payable any time after the May 14, 2014, Maturity Date. The Note itself states that “Unless earlier converted into Conversion Shares pursuant to Section 2.2 of [the NPA] ... the principal and accrued interest shall be due and payable by the Company on demand by the Lender at any time after the Maturity Date.” Consistent with that provision, the NPA provides that Mr. Grosz could have sued Toptal for principal and interest after the Maturity Date without first demanding payment before suing, as Mr. Grosz has admitted in briefs filed with the Court. Grosz's Reply in Supp. of Mot. to Dismiss at 5 n.3. Toptal thus did not breach by attempting to pay Mr. Grosz an amount equal to the principal and accrued interest on March 26, 2020, nearly six years after the Note's Maturity Date. E.g., The Note's use of the phrase “on demand by the Lender” does not change this conclusion. California courts have held for over 150 years that a “note payable on demand[] is payable immediately, and demand need not be made.” 38 Cal. 407, 407 (1869); demand accrues with the inception of the obligation and without the necessity for any demand hardly requires the citation of authority.).[4] Mr. Grosz does not cite any authority—binding or persuasive—to the contrary.[5] Thus, Toptal did not breach by attempting to repay after the Maturity Date even though Mr. Grosz had not made a demand. , 54 Cal. App. 485, 488-89 (1921) (applying “the well-settled principle that an obligation for the payment of money on demand is due immediately, no actual demand is necessary, “and an “express waiver" of demand “is equivalent to a contract that the debt shall be payable without any previous demand“). E.g., Bell v. Sackett, see See Rottman v. Hevener Toptal’s reading that the Note became due and payable on the Maturity Date also is consistent with the meaning of the term “Maturity Date.“ As court have observed, “maturity dates generally rank as among the most staid of contract terms. While one can muster adventurous arguments and debate about all sort of other terms, what is there to contest about the typical maturity date in a promissory note? Before the date, there is merely an obligation. On or after the date, principal and any itnerest are owed.” 2014 WL 1494370, at *1 (N.D. Cal. Apr. 16, 2014). As noted above, Mr. Grosz has admitted that he could have sued Toptal for failure to repay after the Maturity Date without first making a demand, and “[i]t is settled that an obligation ‘matures‘ when the holder of the note has a legal right to bring ana ction to force payment.” Jessup Farms v. Baldwin, 33 Cal. 3d 639 (1983). Fennie v. E-Fuel Corp., The Court rejects Mr. Grosz's argument that the Note prohibits Toptal from paying the principal and accrued interest without his consent after the Maturity Date. The provision to which Mr. Grosz points is a prohibition on “prepayment”—not “repayment”—and it simply stands for the uncontested fact that Toptal was prohibited from paying Mr. Grosz the principal and accrued interest prior to when it became due and payable on the Maturity Date. Moreover, Section 7.1(a) of the NPA authorizes Mr. Grosz to declare an event of default and sue Toptal if Toptal defaulted in the payment of any part of the principal and interest more than thirty days after the Maturity Date. Mr. Grosz's argument that he could block Toptal from returning the principal and interest on the matured Note by withholding demand but at the same time declare an event of default and sue Toptal for failure to repay introduces an “unnecessary internal inconsistency.” 229 Cal. App. 4th 549, 568 (2014); 2010 WL 19295666, at *4 (N.D. Cal. May 12, 2010). The only reasonable interpretation, then, is that Toptal had an obligation to repay Mr. Grosz after the Maturity Date; otherwise, there would be no rational reason why Mr. Grosz could declare an event of default and sue Toptal for failing to repay thirty days after the Maturity Date. Cal. Civ. Code § 1641 (“The whole of a contract is to be taken together, so as to give effect to every part, if reasonably practicable, each clause helping to interpret the other.”); § 1643 (“A contract must receive such an interpretation as will make it ... reasonable.”); 3542 (“Interpretation must be reasonable.”). See Dameron Hosp. Assn v. AAA N. California, Nevada & Utah Ins. xch., Harrison Ventures, LLC v. Alta Mira Treatment Ctr., LLC, See id. id. § The Court thus finds that the terms of the NPA and Note, as well as settled California law, establish that Mr. Grosz's Note became due and payable on the Maturity Date and that Toptal was within its rights to return an amount equal to Mr. Grosz's principal and accrued interest in March 2020. Summary judgment is granted to Toptal on this theory of breach. Continue Reading . Here [4] The Court disagrees with Mr. Grosz's argument that cases interpreting the phrase “on demand” in promissory notes are irrelevant because his Note is “a modern convertible promissory note.” It is neither uncommon nor inappropriate to review case law from the past. In any event, as Toptal observes, California courts acknowledge that convertible debt instruments have long been issued in the United States, including its initial industrial expansion and the building of railroads, see Kessler v. Gen. Cable Corp., 92 Cal. App. 3d 531, 537-39 (1979), and the California case law interpreting the “on demand” language in convertible notes is as recent as 2019, see t’Bear v. Forman, 359 F. Supp. 3d 882 (N.D. Cal. 2019). [5] Mr. Grosz cites to the unpublished decision in Vigdor v. Super Lucky Casino, Inc., 2018 WL 6069944 (N.D. Cal. Nov. 20, 2018), but that case did not overturn a century and a half of California case law interpreting “on demand“ contracts. Vigdor did not address the interpretation of the words “on demand“ or “maturity date“ under California law (and the briefing in that case shows that none of the cases cited above were brought to the Vigdor court’s attention by either side). Further, the Vigdor note purchase agreement did not provide for default and the ability to sue for repayment if the principal and interest were not repaid within 30 days of the maturity date. Moreover, the Vigdor note purchase agreement involved multiple lenders, and the complaining noteholders only had a minority in interest who did not have the contractual ability to act absent the consent and approval of other third parties who represented a majority in interest. In this case, Mr. Grosz, as the single lender under the NPA, was at all times able to unilaterally act under his contract with Toptal without recourse to the consent of any third parties. Notably, the result in Vigdor was repayment of the principal and interest after the maturity date over the objection of certain noteholders who preferred to receive equity, just as Mr. Grosz does here. About HackerNoon Legal PDF Series: We bring you the most important technical and insightful public domain court case filings. This court case retrieved on October 11, 2023, from is part of the public domain. The court-created documents are works of the federal government, and under copyright law, are automatically placed in the public domain and may be shared without legal restriction. media.licdn.com

Toptal's Debt Repayment Strategy Evaluated in Legal Context

TOPTAL, LLC v. DENIS GROSZ Court Filing, retrieved on February 26, 2024 is part of . You can jump to any part in this filing . This part is 1 of 7. HackerNoon’s Legal PDF Series here This matter comes before the Court on Toptal, LLC's (“Toptal”) Motion for Summary Judgment (“Motion”). In the Motion, Toptal argues that Denis Grosz (“Mr. Grosz”) cannot prove that Toptal (a) breached the Note Purchase Agreement (the “NPA”), convertible promissory note (the “Note”), or (b) the Advisor Agreement entered into by the parties on November 14, 2012[1]; that Mr. Grosz's declaratory judgment counterclaims are superfluous; and that Mr. Grosz's counterclaims are barred by the statutes of limitations. The Court has considered the parties’ motion papers, the'arguments by the parties on September 29, 2023, and October 9, 2023, and the supplemental briefing submitted by the parties on October 4, 2023. The Court finds that there are no material disputed questions of fact with respect to part (a) of Toptal's Motion - whether Toptal breached the Note Purchase Agreement (the “NPA”) and convertible promissory note (the “NOTE”) and hereby grants that part of Toptal's Motion. Given this determination, it is not statute of limitations. California Code Section 360 cannot extend the 15 day period to elect the conversion even under Grosz's reading of the statute to extend the statute of limitations period for contracts. [2] As to Mr. Grosz's counterclaim for breach of the Advisor Agreement, Toptal argues that Mr. Grosz cannot show breach of contract because Mr. Grosz has not submitted evidence of damages. Grosz rests his damage model on the testimony of expert Gregory Nachtwey. The Court damages. Grosz rests his damage model on the testimony of expert Gregory Nachtwey. The Court will defer ruling on this counterclaim until after the hearing on the Motion in Limine concerning the admissibility of Mr. Nachtwey's opinions. FACTS AND PROCEDURAL HISTORY* In 2010, Mr. Du Val founded Toptal, a single-member LLC. Mr. Du Val is and always has been the CEO and sole member of Toptal. Mr. Grosz provided Toptal $1 million pursuant to the NPA on November 14, 2012, and, in exchange, Toptal issued him the Note. As part of that transaction, the parties also entered into an Advisor Agreement on the same day, pursuant to which Mr. Grosz agreed to advise the company in exchange for the opportunity to purchase 1.5% equity in Toptal subject to certain conditions that have not occurred to this day. Mr. Grosz asserts that Toptal breached the NPA and Note by (i) failing to convert to a C-corporation and give him equity upon his written election on November 24, 2015, and/or (ii) attempting to repay his principals, and accrued interest on the Note in March 2020. Several provisions of the NPA and Note are relevant to the Motion. First, the Note states that “[u]nless earlier converted into Conversion Shares pursuant to Section 2.2 of that certain Note Purchase Agreement dated November    , 2012 among the Company and the Lender (the ‘Purchase Agreement’), the principal and accrued interest shall be due and payable by the Company on demand by the Lender at any time after the Maturity Date.”   The Note contains a provision expressly waiving presentment and demand. The NPA defines the “Maturity Date” as “May 14, 2014.” Second, Section 2.2 of the NPA is titled, .”' Section 2.2(a) provides that “[t]he principal and unpaid accrued interest of the Note will be automatically converted into Conversion Shares upon the closing of the Next Equity Financing....” A Next Equity Financing Conversion Shares upon the closing of the Next Equity Financing....” A Next Equity Financing (a defined term in the NPA) did not take place prior to the Maturity Date and has not taken place to this day. Section 2.2(b) of the NPA states: “ At any time on or after the fifteenth (15th) day prior to the Maturity Date, if the Next Equity Financing has not occurred by that time, the Note, at Lender's election by written notice to the Company, will be converted into Common Stock of the Company such that the Lender receives shares constituting 8.333% of the Fully-Diluted Equity Securities of the Company following such conversion.” “ Rieht to Convert Note Optional Conversion. The parties dispute whether Section 2.2(b) provides Mr. Grosz with a 15-day window  before the Maturity Date in which to make an election to convert his Note to equity. For its part, Toptal argues that Mr. Grosz's ability to make an election under Section 2.2(b) ended on the Maturity Date. On the other hand, Mr. Grosz argues that Section 2.2(b) allows him to elect to convert his Note starting 15 days prior to the Maturity Date and continuing forever into the future. The parties agree that Mr. Grosz did not make an election under Section 2.2(b) prior to the Maturity Date. The parties also dispute the meaning of Section 2.2(c) of the NPA, which states: “ For clarification, the Company agrees to complete a Company Conversion prior to any conversion of the Note pursuant to this Section 2.2.” Mr. Grosz claims that this provision, read in connection with Section 2.2(b), grants him the power to force Toptal to complete a Company Conversion. In other words, Mr. Grosz claims that once he makes an election under Section 2.2(b), Toptal must convert from an LLC to a C-corporation under Section 2.2(c) so that it can issue Mr. Grosz equity. Toptal disagrees that Section 2.2(c) grants Mr. Grosz the power to force Toptal to change its corporate form. Companv Conversion Prior to Note Conversion. The NPA also contains a section titled ” which provides that “[t]he following events shall be considered Events of Default with respect to the Note following, and only upon, the declaration of default by the Note holder under Section 7.2: “ Events of Default, (a) The Company shall default in the payment of any part of the principal or unpaid accrued interest on the Note for more than thirty (30) days after the Maturity Date or at a date fixed by acceleration or otherwise;. (b) The Company shall fail to observe or perform any other obligation to be observed or performed by it under this Agreement or the Note, within 30 days after written notice from the Note holder to perform or observe the obligation.” Section 7.2 of the NPA states: “Remedies. Upon the occurrence of an Event of Default under Section 7.1 hereof, only at the option and upon the declaration of the holder of the Note, the entire unpaid principal and accrued and unpaid interest on the Note shall, without presentment, demand, protest, or notice of any kind, all of which are hereby expressly waived, be forthwith due and payable, and such holder may, immediately and without expiration of any period of grace, enforce payment of all amounts due and owing under the Note and exercise any and all other remedies granted to it at law, in equity or otherwise.” It is undisputed that Toptal did not convert to a C-corporation before the May 14, 2014, Maturity Date or pay any outstanding principal and interest to Mr. Grosz within 30 days after the Maturity Date. Continue Reading . Here [I] There are no fully executed copies of these agreements in the Record. The Court has reviewed a copy of the NPA and the Advisor Agreement containing Taso Du Val's (“Mr. Du Val”) signature on behalf of Toptal, but those agreements are missing Mr. Grosz's signature. The Court has not received an executed copy of the Note. However, the Court does not address whether the lack of signatures by all parties renders the Agreements unenforceable, because Count I of Mr. Grosz's counterclaims fails as a matter of law in any event. [2] Toptal's other arguments that Mr. Grosz's remaining counterclaims are untimely is addressed in a separate order. [3] The facts set forth in this Order are the facts “viewed in the light most favorable to the non-movant,” Mr. Grosz. 121 Nev. 724, 729 (2005) (“[W]hen reviewing a motion for summary judgment, the evidence, and any reasonable inferences drawn from it, must be viewed in a light most favorable to the nonmoving party.”); 118 Nev. 288, 293 (2002); 26 Carrington Mortg. Servs., 139 Nev. Adv. Op. 13 (2023). Wood v. Safeway, Inc., Chavez v. Sievers, see also Wishengrad v. About HackerNoon Legal PDF Series: We bring you the most important technical and insightful public domain court case filings. This court case retrieved on October 11, 2023, from is part of the public domain. The court-created documents are works of the federal government, and under copyright law, are automatically placed in the public domain and may be shared without legal restriction. media.licdn.com

Toptal, LLC v. Denis Grosz: Summary Judgement and Court Filing Analysis

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Did you know that we have certain kinds of vending machines in the crypto world too? They were designed to facilitate users' experience in various operations involving trading —of any kind of token or physical product. as the product itself or as the payment method. In other words, you could use them or even create them to buy and sell something, including cryptocurrencies in the process Several companies have built and installed crypto-related physical vending machines in numerous cities worldwide. However, not every “vending machine” in crypto is physical. We also have digital vending machines to improve our experience. Let’s learn more about them. Physical Vending Machines + Crypto , the company American Green was likely the first one to build a Bitcoin-payment-friendly vending machine. To dispense medical marijuana. Due to the nature of the product, the machine also could scan IDs before the purchase, paid with BTC. Back in 2014 Different products and brands would join over the years: Today, it’s even possible to configure regular vending machines, to accept several cryptocurrencies, with the app . The product inside would depend solely on the owner(s). to buy beer, (with Litecoin), soft drinks, and much more. Red Bull snacks, PayRange , a new crypto vending physical machine would appear. This time, the tokens weren’t the payment method, but the product. Neon Marketplace created the first-ever vending machine to sell Non-Fungible Tokens (NFTs) physically; and installed it in New York (USA). They offered two collections in the Solana chain: “Colors” and “Party Pidgeons,” payable by credit card instead of cryptocurrencies. After 2022 The users would receive a small package containing a code to redeem their $6 or $421 prize. , the package could get stuck in the machine (like in any other vending machine) or the code may be defective. However, it’s considered a beginner-friendly way to start in the crypto world. Sometimes , including myNFT (London), Masahide Matsuda (Tokyo), Atlas (Malaysia), and the (Vancouver). Often, it would be possible to pay in crypto as well, and the machine would stay in place indefinitely. Some other times, this would be just a temporary exhibition at a crypto-related conference or art display. Other companies and artists would follow the example and create their own NFT vending machines Skull Society Digital Dispensers In 2019, even before the physical versions, a developer recreated the same vending machine process to buy and sell tokens digitally. It was a program inside the Bitcoin-based Counterparty Network, called “Dispenser,” and released by John "Chiguireitor" Villar through the Counterparty Improvement Proposal 21 ( ). CIP21 Unlike their physical counterparts, these virtual machines are accessible through websites or mobile/desktop applications, presenting the digital item, its quantity, price, and other pertinent details. Basically, a dispenser in Counterparty is a virtual vending machine, akin to its physical counterpart but instead of doling out sodas, it dispenses digital objects (NFTs or other compatible tokens). Dispensers provide a simple yet efficient mechanism for both creation and use. To create one, a seller requires some compatible assets (created with Counterparty) and configures the virtual dispenser to deliver a desired quantity of tokens at a specified price. Users, on the other hand, access dispensers through direct links, explore available options, and make purchases by sending the exact amount to the provided address, receiving the acquired NFTs promptly. BTC . Dispensers are still based in Bitcoin, though, so the transactions will always depend on the miners —some sort of middlemen. This user-friendly process eliminates intermediaries, making dispensers an accessible and cost-effective solution for digital item exchange within the Counterparty ecosystem They’re not smart contracts that mediate between users, but a digital entity by themselves, working independently after the first configuration and until the product is sold out. Another potential issue lies there, though: if the product (the asset) is sold out, and the user isn’t paying attention, they could lose all the funds sent to the dispenser. Autonomous Agents (AAs) There is another kind of crypto-related “vending machine,” but this one is more versatile than the others. Similar to smart contracts, in Obyte are computer programs, built with code on a distributed ledger. They’re designed to make a specific (and digital) task, but they’re not there to represent a real human “party,” user, or company. Autonomous Agents Smart contracts can enforce some pre-set conditions of any accord between users, while Autonomous Agents are a kind of “users” themselves. Just like vending machines, only that they have an unalterable code and can’t issue a wrong order or get stuck. Automated users, always available to carry on a specific task at the call of a human user. AAs receive transactions with money and data, delivering a response—monetary tokens and recorded data on the Directed Acyclic Graph (DAG) ledger, free of miners and other middlemen, which makes it more decentralized than other networks. They operate independently, transparently displaying expected responses in the same wallet before completing the transaction. Developed in Oscript, a programming language optimized for safety, AAs enable precise execution of tasks, minimizing errors. They serve various purposes: from decentralized exchanges and payment channels to prediction markets and lending apps. So, anyone can interact with the involved Dapp by sending or receiving transactions to and from the AA’s Obyte address. Users can interact with AAs through their , initiating transactions that are promptly recorded and answered. Obyte wallets Developers can also build their own AAs for different purposes, using the . Some AAs that are deployed on Obyte include the Dapp , the DEXes and , the , the prediction markets platform , and — a tool for cascading donations on GitHub. proper tools Bonded Stablecoins ODEX Oswap Obyte Token Registry Prophet Kivach What to choose? This is entirely up to you, of course. However, we have to admit that NFT machines, crypto-accepting machines, and digital dispensers (of tokens) have very limited and specific functions, while AAs could be any decentralized tool in the digital realm. For beginners, physical vending machines that accept or dispense cryptocurrencies offer tangible, real-world products with the convenience of digital currency transactions. These are suitable for those seeking a bridge between the digital and physical realms. Counterparty dispensers, functioning on the Bitcoin ledger, cater to the NFT market and token trading limited to this network. Autonomous Agents in Obyte present a digital, decentralized alternative, excelling in executing rule-based processes for various DeFi applications and beyond. They offer transparency, security, and user-friendly interactions, and could reach several chains if the users bridge their tokens through . Counterstake As we’ve mentioned above, many interesting applications in Obyte are built with AAs, but they have their own websites with user-friendly interfaces. You’ll just need your wallet and some coins. Ready to try? And remember, you don’t even have to know what an Autonomous Agent is . to use one Featured Vector Image by vectorjuice / Freepik

Exploring Crypto ‘Vending Machines’: Physical Machines, Dispensers, and Autonomous Agents

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