GLX is committed to the highest standards of Corporate Governance and Social Responsibility.
Updated on August 4, 2018
Types of Memberships
GLX offers the following types of memberships:
- Restricted (Free) Membership Account
- Standard Membership Account
- Premium Membership Account
Restricted (Free) Membership Account
A Restricted (Free) Membership Account is for anyone who wants to create and maintain a profile in the GLX – Capital Market Network. Restricted (Free) Membership Accounts have the following restrictions:
- Are not searchable and cannot be found by other GLX members.
- Cannot connect or message other GLX members.
Standard Membership Account
Each Standard Membership Account is billed at a rate of $1.00 USD per-month. Billing cycles are monthly and begin on the first day that the new member signs on. All memberships renew at the end of each 30-day period thereafter. We bill on a 30-day month, 360-day year, count convention, this means that the standard daily membership rate is $0.03333333 per-day.
Premium Membership Account
COMING SOON – Premium Membership Accounts and data subscriptions are coming soon.
The payment method in the GLX ecosystem is the GLX Token (GLXT). The GLX Token (GLXT) is a new series of hybrid digital utility tokens built on the Komodo Platform. GLXTs function as the exclusive payment mechanism and membership access device for the GLX Ecosystem to incentivize key actions and needs within the platform. GLXTs can be earned for loyalty and incentives and are used to pay for goods and services on the GLX platform.
Restricted GLX Network Tokens
Upon sign up all new Members receive 1,000 FREE trial restricted GLX network tokens and a Standard Membership Account. These tokens represent 10-months of FREE premium membership (100 tokens per-month). After 10-months and upon depletion of the 1,000 FREE trial restricted GLX network tokens new Member accounts are converted to Restricted (Free) Membership Accounts and no further tokens will be depleted.
One GLXT will initially be valued at $0.01 USD. All new GLX members will receive 1,000 GLXTs upon sign up which can be used to pay for membership access to the GLX Platform. Similar to Bitcoin the GLXT is divisible down to eight decimal places. In the event that the GLXT rises in value the current price will be the benchmark to measure the conversion rate to pay for monthly subscription cost. For example, if the GLXT is valued at $0.02 per-GLXT relative to the USD then the conversion debit to cover the current monthly membership of $1.00 USD will be ½ GLXT.
COMING SOON – If a member chooses to pay annually, a 20% discount will be applied compared to paying monthly. For example, a Standard Membership Account is billed at a rate of $12.00 USD per-year. If a member chooses to do so they can pay annually and accept a saving of $2.40 ($12 x 20%) and pay a one-time annual reduced rate of $9.60 ($12.00 – $2.40).
Account Restrictions / Cancellations
In the event that abuse or fraud is suspected, GLX, in its sole discretion, has the right to suspend or terminate any user’s account and may refuse any and all current or future use of the GLX Website. Such termination of use of the Website may result in the suspension or deletion of said user’s account and / or access to said account, and the forfeiture and relinquishment of any and all content in said account. GLX reserves the right to refuse service to anyone for any reason at any time.
In the event that GLX takes action to suspend or terminate an account, we will make a reasonable effort to provide the suspended or terminated account holder with a copy of their account contents upon request, unless the account was suspended or terminated due to unlawful conduct.
Any and all suspended or terminated accounts will also forfeit any and all GLXTs awarded to said accounts as sign-up or other incentive.
If you have any questions or concerns regarding GLX.com (the GLX Network, GLX Chain, GLX Network Token (GLXT), GLX Wallet, and the GLX Explorer), GLX’s Terms of Service and all related policies, GLX, Inc., the GLX Foundation, or any related entities, or for general inquiries, please contact us by CLICKING HERE.
You can also email us at email@example.com or write to us at GLX.com / GLX.org, 30 N Gould St, Ste R, Sheridan, WY 82801-6317.
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