🗝️Terms of NFT Ownership

Upon obtaining a Checker Node License NFT during the initial Public Sale, the holder receives the following permissions and obligations:

• The right to deploy and operate one verification node to support the network through transaction validation work.

• Eligibility to earn KIP Protocol's native $KAI token as rewards, distributed based on the node's assessed productivity level over time.

• Ownership of the license NFT, granting node operating privileges indefinitely, provided the holder remains an active participant.

• KIP Protocol retains the ability to update license agreement terms going forward through on-chain governance procedures.

• By holding a license, the owner agrees to comply with potential software updates required to maintain node functionality standards.

• NFT transferability in 6 months - after which the NFT is freely tradable and transferable.

Clearly outlining the rights and duties associated with license ownership establishes a framework of mutual understanding between all involved parties.