Disclaimer and User Warranties
No Investment Advice or Brokering Services
Tokenwised Ltd. or any related entity (the “Company,” “we,” or “us”) is not an investment advisor or investment broker. No content on the site is intended to or should be assumed to, be a recommendation to enter into any securities transactions or investment, or an endorsement, recommendation, or rating of any project or investment. We do not provide personalized recommendations or opinions regarding whether a project or investment approach is suited to the financial or other goals or needs of a specific person, company, or other legal entity.
No Tax Advice or Legal Advice
The Company does not offer tax or other accounting services or legal advice. We are not accountants or lawyers. No content on the site is intended to or should be assumed to, be legal or tax advice. We encourage you to and recommend that you consult with licensed accountants and lawyers for independent advice.
Neither The Company nor any person or entity associated with it, including but not limited to its agents, servants, employees, insurers, attorneys, successors, and assigns, will be liable, whether in contract, tort (including negligence), or otherwise, for any damage, expense, or other loss you may suffer arising out of any use or reliance on The Company’s content.
By using the Company’s services, you are making the following warranties:
Participants from the following countries are not allowed to participate in the IDO: “US person”, Canada, South Korea, Singapore, and China. This prohibition applies to all types of people (moral, physical, agent, etc.) and to any indirect participation (via a proxy, a name loan, etc.). By participating in the IDO, the purchaser guarantees that he meets the restrictions.
You warrant that you understand that since The Company’s content is for informational purposes only, it is extremely important for you to do your own research and analysis, independently verify any information you find on The Company upon which you wish to rely, consider your own personal circumstances and goals, and obtain independent financial advice from appropriate professionals before making any investment decision or taking any other action.
No Illegal Acts
You warrant that you undertake to ensure, to the best of your knowledge and belief and after due diligence, that no money laundering or other unlawful act is committed in connection with the using of The Company, and that no proceeds of any money-laundering activities are used to participate in the token swap activities. You further warrant that you are and always will be compliant with all applicable anti-money-laundering regulations. In addition, you warrant that you will not, in connection with using The Company, transfer anything of value, directly or indirectly, to any government official, an employee of a government-controlled company, political party, or private (non-governmental) persons or entities working on behalf of any government in order to obtain any improper benefit or advantage. You further warrant that no money paid to you as compensation or otherwise has been or will be used to pay any bribe or kickback in violation of any applicable law.
Awareness of Risks
You warrant that you understand that cryptocurrency token and initial coin offering projects are inherently highly risky and extremely speculative. They are unregulated, in an early stage of development, with experimental software and business models, no governmental protection of your investment, dramatic price volatility, the strong potential for inadequate documentation, and a high risk of fraud.
You should only invest in a cryptocurrency token or IDO projects if you have substantial technical knowledge and understand the specifics of the offering. Careful due diligence should be undertaken on the projects, network, tokens, and team behind any token sale or IDO. You must understand that your and others’ investments may not result in a usable or valuable token and you may lose the entire value of your investment.
You are encouraged to consider the advice of and warnings about the significant risks of this sector (including the risk of loss of value and fraud) published by the following jurisdictions:
USA – https://www.sec.gov/oiea/investor-alerts-and-bulletins/ib_coinofferings
UK – https://www.fca.org.uk/news/statements/ initial-coin-offerings
Europe – https://www.esma.europa.eu/press-news/esma-news/esma-highlights-IDO-risks-investors-and-firms
For your information, The Company offers the following list of risks of investments in a cryptocurrency token or IDO projects. You warrant that you understand that The Company does not guarantee that this list includes all possible risks.
Cryptocurrency tokens are created and distributed using distributed ledger or blockchain technology. This technology is highly experimental; therefore, participation in cryptocurrency token sales or IDOs is very risky. Issuers of tokens or virtual coins often use the software, new technologies, and new ways of doing business that are in an early development stage and unproven. The software, technologies, and related businesses invested in by the entity issuing tokens could be unfit for their intended purpose and/or not work as effectively or as well as anticipated.
The Company uses the Ethereum protocol. The project using them will be adversely affected by any malfunction, dysfunction, or abandonment of these protocols. Additionally, these protocols could be rendered less valuable or valueless by advances in cryptography or other technical advances, such as the development of quantum computing.
Blockchain mining attacks
Any cryptocurrency token or IDO project using blockchain-based systems that depend upon independent miners may be subject to mining attacks, including but not limited to double-spend attacks, majority mining power attacks, “selfish-mining” attacks, and race condition attacks. Any successful attack presents serious risks to every aspect of the cryptocurrency token or IDO project.
The entity that issues a token or virtual coin may wish to store or convert cryptocurrency into one or more fiat and/or alternative cryptocurrencies. There could be serious problems making and managing such cryptocurrencies and funds, including difficulties related to the lack of ready convertibility between fiat currencies, cryptocurrencies, and tokens or to deal with them via traditional market counterparties and intermediaries. If the value of cryptocurrencies fluctuates unfavorably during or after a token sale, the entity issuing the tokens may not be able to fund development or develop or maintain the technology platform allowing the use of the tokens as it intended to do. In addition to the usual market forces, the risk of unfavorable fluctuation in the value of cryptocurrencies could be exacerbated by another DAO-like attack on the Ethereum network, by security incidents or market irregularities at one or more of the major cryptocurrency exchanges, or by currently unforeseeable events.
Loss of your credentials
If you lose your crypto-wallet credentials or they are stolen, tokens or virtual coins you purchased will be permanently lost. A private key, or a combination of private keys, is necessary to control and dispose of Tokens stored in your wallet. Loss of the private key(s) associated with your wallet will result in loss of tokens. Any third party that acquires the ability to access your private key(s), including by acquiring login credentials of a hosted wallet service you use, may be able to steal your tokens. If your crypto-wallet malfunctions or fails for any reason, including your own failure to properly maintain or use it, may also result in your tokens being lost. Failure to correctly follow the procedures set out in any token sale documentation for buying and receiving tokens, including providing an incorrect wallet address or an address that is not ERC-20 compatible may result in token loss.
Cryptocurrencies and tokens are inherently subject to the risk of cybercrime, which is difficult to protect against. The software used in any aspect of a cryptocurrency token or IDO project could be hacked, which could result in an inability to use or outright loss of some or all cryptocurrency and token assets. Entities issuing tokens are unlikely to be required to insure their assets and may find it too difficult to do so given commercial conditions for such insurance.
Failure or Abandonment
Any aspect of any cryptocurrency token or IDO project abandoned or required to be restructured, become or remain technologically or commercially unsuccessful, or be shut down for many reasons, including, but not limited to, lack of interest by the public; statutory, regulatory, or other legal changes; lack of funding; and lack of commercial success due to competing projects. There is no assurance that any tokens or virtual coins you acquire will have the value expected, or any value, at the time you wish to use them. You should understand and accept that the ownership and use of tokens or virtual coins is very risky such that they could be or become unusable or valueless with respect to the exchange of information, services, or value with other token or virtual coin owners, and they typically cannot be exchanged or redeemed to the entity that issued the tokens in return for fiat or alternative cryptocurrencies.
The sale or use of tokens or virtual coins could be prohibited under applicable securities law. It is possible that existing regulations could be applied, or new regulations could be enacted, affecting blockchain technology-based applications and sales of tokens or virtual coins such that any aspect of cryptocurrency token and IDO projects could be negatively affected, requiring its modification or discontinuance and potentially resulting in the loss of tokens or token value.
No statutory protection
Tokens do not represent deposits and are not subject to any statutory insurance or guarantees. In the event of insolvency of an entity issuing tokens or any entity involved in a cryptocurrency token or IDO project, there will be no protection in place to allow recovery of losses.
Lack of oversight
Most token sales are not structured or intended as an offer of securities or a promotion, invitation, or solicitation for investment purposes. Token sales are not, therefore, subject to the offering requirements that apply to securities, including legal standards for prospectuses or other documentation. Investing in unregulated tokens does not involve independent review or oversight required by law for securities offerings, and the accounts of token offerors may not be subject to audit requirements.