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Terms & Conditions

Last updated: January 29, 2026

1. Acceptance of Terms

By accessing or using the Gold Reserve platform ("Service"), you agree to be bound by these Terms and Conditions. If you do not agree to these terms, please do not use our Service.

Gold Reserve is a Solana-based token burning and gamble application. Users burn $COIN tokens for a chance to win ORO GOLD at a multiplied payout. Each burn uses on-chain verifiable randomness (ORAO VRF) to determine the outcome. Winning is not guaranteed.

2. Eligibility

To use the Service, you must:

  • Have the legal capacity to enter into a binding agreement
  • Not be a resident of any jurisdiction where cryptocurrency transactions or gambling activities are prohibited
  • Have a compatible Solana wallet
  • Comply with all applicable laws and regulations in your jurisdiction

3. Service Description

Gold Reserve provides a platform where users can:

  • Connect their Solana wallet to the platform
  • Burn $COIN tokens they hold
  • Request on-chain verifiable randomness (VRF) as part of the burn transaction
  • If the VRF result determines a win: receive GOLD tokens calculated as (burn_usd_value × payout_multiplier) / oro_usd_price
  • If the VRF result determines a loss: tokens are burned with no payout

The win probability and payout multiplier are configurable and may change. The actual payout is calculated using USD prices of both $COIN and GOLD at the moment your burn is verified on-chain. Current parameters are displayed on the Redeem page.

4. Gamble Acknowledgement

By using this Service, you acknowledge and agree that:

  • Each burn is a gamble with a chance of winning or losing
  • Losing results in permanent destruction of your tokens with no compensation
  • The outcome is determined by ORAO VRF (Verifiable Random Function) on the Solana blockchain
  • Neither you nor Gold Reserve can predict, manipulate, or reverse the outcome
  • You should only burn tokens you are willing to lose entirely
  • A VRF fee (currently 0.001 SOL) is included in each transaction

5. Wallet Connection

You are solely responsible for maintaining the security of your wallet and private keys. Gold Reserve does not have access to your private keys and cannot recover your wallet if you lose access. Any transactions you authorize through your wallet are final and irreversible.

6. Transaction Finality

All burn transactions are executed on the Solana blockchain and are:

Permanent: Once $COIN tokens are burned, they cannot be recovered regardless of the gamble outcome

Irreversible: Transactions cannot be undone or reversed

Final: The win/loss outcome is determined by on-chain VRF and cannot be contested

7. Platform Rules

The following rules govern the operation of the Gold Reserve platform:

Daily Limit: A percentage of total GOLD reserves may be capped for daily distribution to ensure sustainable payouts

Minimum Burn: A minimum USD-equivalent burn amount is required per transaction (configurable)

Rate Limits: API requests are limited to 10 per minute per IP address to ensure fair access

8. Risks

By using this Service, you acknowledge and accept the following risks:

  • Cryptocurrency values are highly volatile and can fluctuate significantly
  • You may lose your burned tokens with no payout
  • Blockchain transactions may be delayed due to network congestion
  • Smart contract and VRF oracle interactions carry inherent risks
  • Loss of wallet access means permanent loss of tokens
  • Regulatory changes may affect the availability of the Service
  • Win probability, payout multiplier, and other parameters may change

9. Prohibited Activities

You agree not to:

  • Use the Service for any illegal purpose or in violation of any laws
  • Attempt to manipulate or exploit the platform or VRF outcomes
  • Use automated systems or bots to interact with the Service
  • Interfere with or disrupt the Service or its infrastructure
  • Circumvent any rate limits or security measures

10. Disclaimer of Warranties

THE SERVICE IS PROVIDED "AS IS" AND "AS AVAILABLE" WITHOUT WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED. GOLD RESERVE DOES NOT WARRANT THAT THE SERVICE WILL BE UNINTERRUPTED, SECURE, OR ERROR-FREE. GOLD RESERVE DOES NOT GUARANTEE ANY PARTICULAR OUTCOME FROM USING THE SERVICE. YOU USE THE SERVICE AT YOUR OWN RISK.

11. Limitation of Liability

TO THE MAXIMUM EXTENT PERMITTED BY LAW, GOLD RESERVE AND ITS AFFILIATES SHALL NOT BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES, INCLUDING BUT NOT LIMITED TO LOSS OF TOKENS, LOSS OF PROFITS, OR LOSS OF DATA, ARISING OUT OF OR RELATED TO YOUR USE OF THE SERVICE. THIS INCLUDES LOSSES RESULTING FROM GAMBLE OUTCOMES, VRF RESULTS, OR TOKEN PRICE FLUCTUATIONS.

12. Modifications

We reserve the right to modify these Terms at any time, including changes to the win probability, payout multiplier, or other gamble parameters. Changes will be effective immediately upon posting to the platform. Your continued use of the Service after any changes constitutes acceptance of the new Terms.

13. Governing Law

These Terms shall be governed by and construed in accordance with the laws of the Cayman Islands, without regard to its conflict of law provisions.

14. Contact

For questions about these Terms, please contact us at hello@goldreserve.xyz