Terms of Service
Last update: August 25th, 2025
Network Participation & Rewards
Definitions – LongBoat NFTs
For the purposes of these Terms, the expressions “LongBoat Digital Licence,” “LongBoat NFT,” and “LongBoat Collectible” are used interchangeably and shall have the same meaning. Each refers to the blockchain-based digital item issued by LongBoat Digital LLC that may be freely transferred or sold on secondary marketplaces, and which grants the current holder the right to access and participate in the LongBoat network as described herein.
1. Nature of LongBoat NFTs
By purchasing a LongBoat NFT, you acquire a unique digital collectible associated with a specific shipping container within the LongBoat Network.
LongBoat NFTs do not represent ownership of any physical container, equity in LongBoat entities, or any form of security or financial instrument.
The NFT serves as an access credential to the LongBoat platform and enables participation in the LongBoat Decentralized, Synchronized Ledger Node (“DSLN”) Network.
2. Participation in the DSLN Network
NFT holders contribute to the DSLN by performing Monitoring Actions, which consist of:
Connecting to the LongBoat dApp at regular intervals and
Verifying container GPS location data via the provided API.
These Monitoring Actions contribute to the accuracy, transparency, and resilience of the container tracking ledger maintained by the LongBoat community.
Participation is voluntary, but failure to perform Monitoring Actions may reduce or eliminate eligibility for certain rewards, as explained below.
3. Operational Rewards
NFT holders who contribute Monitoring Actions may receive Operational Rewards distributed in USDC.
Operational Rewards are variable and depend on multiple factors, including but not limited to:
The number of Monitoring Actions performed by the participant,
Applicable operational costs and fees.
LongBoat does not guarantee any level of Operational Rewards. Past distribution levels are not indicative of future results.
4. Operational Fees & Fee Reductions
LongBoat deducts a standard Operational Fee from container revenues to cover logistics, insurance, and administrative costs.
Participants who perform Monitoring Actions can reduce this Operational Fee in accordance with the following framework:
Each day you perform Monitoring Actions, your Operational Fee is reduced by a fixed increment.
Consecutive participation builds a “streak,” which can further reduce fees up to a defined maximum.
Missing a Monitoring Action & breaking the streak resets the fee reduction to the standard level.
If Monitoring Actions are not performed, LongBoat may execute such actions on behalf of the holder, in which case the full Operational Fee applies.
5. Legal Disclaimers
LongBoat NFTs are not investment products and do not entitle holders to fixed or guaranteed returns.
Rewards, if any, are compensation for active participation in maintaining the DSLN network and are subject to operational performance and user contribution.
Holding a LongBoat NFT does not create any shareholder, partnership, or equity rights in LongBoat Holdings Ltd. or LongBoat Digital LLC.
Users acknowledge that rewards may fluctuate, be delayed, or cease entirely depending on external market conditions, container performance, and regulatory or operational factors.
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