Terms & Conditions

Certain Risks Relating to Purchase, Sale and Use of Tokens

The Tokens are not being structured or sold as securities or any other form of investment product. Accordingly, none of the information presented in this white paper is intended to form the basis for any investment decision, and no specific recommendations are intended. Company expressly disclaims any and all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from: (i) reliance on any information, (ii) any error, omission or inaccuracy in any such information or (iii) any action resulting from such information. By purchasing, holding and using Tokens, you expressly acknowledge and assume the following risks:

1. Risk of Losing Access to Tokens Due to Loss of Private Key(s), Custodial Error or Purchaser Error A private key, or a combination of private keys, is necessary to control and dispose of Tokens stored in your digital wallet or vault. Accordingly, loss of requisite private key(s) associated with your digital wallet or vault storing Tokens will result in loss of such Tokens. Moreover, any third party that gains access to such private key(s), including by gaining access to login credentials of a digital wallet or vault service you use, may be able to misappropriate your Tokens. Any errors or malfunctions caused by or otherwise related to the digital wallet or vault you choose to receive and store Tokens, including your own failure to properly maintain or use such digital wallet or vault, may also result in the loss of your Tokens. Additionally, your failure to follow precisely the procedures for buying and receiving Tokens, including, for instance, if you provide the wrong address for receiving Tokens, may result in the loss of your Tokens.

2. Risks Associated with the Ethereum Protocol Because Tokens and the Platform are based on the Ethereum protocol, any malfunction, breakdown or abandonment of the Ethereum protocol may have a material adverse effect on the Platform or Tokens. Moreover, advances in cryptography, or technical advances such as the development of quantum computing, could present risks to Tokens and the Platform, including the utility of Tokens for obtaining Services, by rendering ineffective the cryptographic consensus mechanism that underpins the Ethereum protocol.

3. Risk of Mining Attacks As with other decentralized cryptographic tokens based on the Ethereum protocol, Tokens are susceptible to attacks by miners in the course of validating Token transactions on the Ethereum blockchain, including, but not limited, to double-spend attacks, majority mining power attacks, and selfish-mining attacks. Any successful attacks present a risk to the Platform and Tokens, including, but not limited to, accurate execution and recording of transactions involving Tokens.

4. Risk of Hacking and Security Weaknesses Hackers or other malicious groups or organizations may attempt to interfere with the Platform or Tokens in a variety of ways, including, but not limited to, malware attacks, denial of service attacks, consensus-based attacks, Sybil attacks, smurfing and spoofing. Furthermore, because the Platform is based on open-source software, there is a risk that a third party or a member of the Company team may intentionally or unintentionally introduce weaknesses into the core infrastructure of the Platform, which could negatively affect the Platform and Tokens, including the Token’s utility for obtaining Services.

5. Lack of Secondary Market for Tokens are intended to be used solely on the Platform, and Company will not support, facilitate or contemplate any secondary trading or external valuation of Tokens.

6. Risk of Uninsured Losses Tokens are uninsured unless you specifically obtain private insurance to insure them.

7. Risks Associated with Uncertain Regulations and Enforcement Actions The regulatory status of distributed ledger technology is unclear or unsettled in many jurisdictions. It is difficult to predict how or whether regulatory agencies may apply existing regulation with respect to such technology and its applications. It is likewise difficult to predict how or whether legislatures or regulatory agencies may implement changes to law and regulation affecting distributed ledger technology and its applications, including the Platform and potentially, Tokens. Company may cease operations in a jurisdiction in the event that regulatory actions, or changes to law or regulation, make it illegal to operate in such jurisdiction, or commercially undesirable to obtain the necessary regulatory approval(s) to operate in such jurisdiction.

8. Risks Arising from Taxation The tax characterization of Tokens is uncertain. You must seek your own tax advice in connection with purchasing Tokens, which may result in adverse tax consequences to you, including withholding taxes, income taxes and tax reporting requirements.

9. Risk of Alternative Platforms It is possible that alternative platforms could be established that utilize the same open source code and protocol underlying the Platform and attempt to facilitate services that are materially similar to the Services. The Platform may compete with these alternative platforms, which could negatively impact the Platform and Tokens, including the Token’s utility for obtaining Services.

10.Risk of Insufficient Interest in the Platform or Distributed Applications It is possible that the Platform will not be used by a large number of individuals, companies and other entities or that there will be limited public interest in the creation and development of distributed platforms (such as the Platform) more generally. Such a lack of use or interest could negatively impact the development of the Platform and the potential utility of Tokens, including its utility for obtaining Services. The Company’s growth and adoption of the Platform may depend on our ability to maintain and expand our existing relationships with companies and our ability to develop new relationships with other companies to utilize the Platform. Continuing to develop and improve the Platform to keep up with these changes may require significant time and additional investment. If we cannot continue to develop and improve the Platform to maintain competitiveness considering such changes, the Platform may not remain viable, which could negatively impact the utility of Tokens, including the Token’s utility for obtaining Services.

11.Risks Associated with the Development and Maintenance of the Platform since it is still under development and may undergo significant changes over time. Although we intend for Tokens and the Platform to follow the specifications, and will take commercially reasonable steps toward those ends, we may have to make changes to the specifications of Tokens or the Platform for any number of legitimate reasons. This could create the risk that Tokens or the Platform, as further developed and maintained, may not meet your expectations at the time of purchasing Tokens. Furthermore, despite our good faith efforts to develop and maintain the Platform, it is still possible that the Platform will experience malfunctions or otherwise fail to be adequately developed or maintained, which may negatively impact the Platform and the potential utility of Tokens, including its utility for obtaining Services.

12.Risk of an Unfavorable Fluctuation of Ether and Other Currency Value. The Company team intends to use the proceeds from selling Tokens to fund the maintenance and development of the Platform. The proceeds of the sale of Tokens will be denominated in Ether, and may, at our discretion, be converted into other cryptographic and fiat currencies. If the value of Ether or other currencies fluctuates unfavorably during or after the Sale Period, the Company team may not be able to fund development or may not be able to develop or maintain the Platform in the manner that it intended.

13.Risk of Dissolution of the Company It is possible that, due to any number of reasons, including, but not limited to, an unfavorable fluctuation in the value of Ether (or other cryptographic and fiat currencies), decrease in the Token’s utility (including its utility for obtaining Services), the failure of commercial relationships, or intellectual property ownership challenges, the Platform may no longer be viable to operate and the Company may dissolve.

14.Risks Arising From No Governance Rights. The Tokens currently confer no governance rights. While the Company reserves the right to offer such rights in the future, the Company currently has sole discretion to make decisions that could adversely affect the Platform and the utility of Tokens that you hold, including the Token’s utility for obtaining Services.

15.Risks Associated with New and Evolving Laws Impacting Issuance and Trading Technology. The Issuance and trading technology ecosystems, and by extension our own Platform, are subject to a variety of laws and regulations, including those with respect to consumer privacy, data protection, consumer protection, content regulation, network neutrality, cyber security, data protection, intellectual property (including copyright, patent, trademark and trade secret laws), defamation, child protection, and others. These laws and regulations, and the interpretation or application of these laws and regulations, could change. In addition, new laws or regulations affecting the Company could be enacted. As the Platform evolves, Company may be subject to new laws and the application of existing laws to us might change. These laws and regulations are frequently costly to comply with and may divert a significant portion of Company’s attention and resources. If we fail to comply with these applicable laws or regulations, we could receive negative publicity and be subject to significant liabilities which could adversely impact the Company, the Platform and Tokens, including the Token’s utility for obtaining Services. Additionally, within the Platform are subject to industry specific laws and regulations or licensing requirements. If any of these parties fails to comply with any of these licensing requirements or other applicable laws or regulations, or if such laws and regulations or licensing requirements become more stringent or are otherwise expanded, it could adversely impact the Platform and Tokens, including the Token’s utility for obtaining Services.

16.Unanticipated Risks Cryptographic tokens such as Tokens are a new and untested technology. In addition to the risks included herein, there are other risks associated with your purchase, holding and use of Tokens, including those that the Company cannot anticipate. Such risks may further materialize as unanticipated variations or combinations of the risks discussed.

17.Cancellation; Refusal of Purchase Requests. Your purchase of Tokens from us during the Sale Period is final, and there are no refunds or cancellations except (a) if 500,000 Tokens are not sold during the Sale Period as defined in and pursuant to applicable procedures, or (b) pursuant to Section 34F(2) of the Companies Act of 1981, within three (3) days of subscribing for the Tokens, you may withdraw from the purchase of Tokens. We reserve the right to refuse or cancel Token purchase requests at any time in our sole discretion. In addition, access to the Platform across all subscribers will require a minimum Token balance to be held as published by VL on www.velocityledger.com at least ninety (90) days prior to the effective date of such minimum Token balance.