Incentive Program Terms and Conditions (“T&CS”)

BY PARTICIPATING IN THE INCENTIVE PROGRAM (THE “PROGRAM”), PARTICIPANT ACKNOWLEDGES THAT THEY HAVE READ, UNDERSTOOD, AND AGREED TO THESE T&CS IN THEIR ENTIRETY. THE PARTICIPANT IS RESPONSIBLE FOR MAKING INFORMED DECISIONS REGARDING THEIR PARTICIPATION IN THE PROGRAM AND THE RECEIPT OF TOKENS OR VIRTUAL ASSETS, BASED ON THEIR UNDERSTANDING OF THE TERMS AND CONDITIONS, AND ANY PROFESSIONAL ADVICE THEY MAY SEEK. ANY PARTICIPATION IN THE PROGRAM IS SOLELY AT THE PARTICIPANT’S OWN DECISION AND RISK. AND IT IS THE PARTICIPANT’S SOLE RESPONSIBILITY TO SEEK APPROPRIATE PROFESSIONAL, LEGAL, INVESTMENT AND TAX ADVICE IN RESPECT OF THE PROGRAM AND ANY RECEIPT OF THE TOKENS OR VIRTUAL ASSETS PRIOR TO PARTICIPATING IN THE PROGRAM AND PRIOR TO RECEIVING ANY TOKENS OR VIRTUAL ASSETS.

BY PARTICIPATING IN THE PROGRAM, THE PARTICIPANT EXPRESSLY ACKNOWLEDGES AND ASSUMES ALL RISKS RELATED THERETO INCLUDING (WITHOUT LIMITATION) THE RISKS SET OUT HEREINBELOW. EXCEPT WHERE PROHIBITED BY LAW, IN NO EVENT SHALL THE ORGANIZER OR ANY MEMBER OF THE ORGANIZER GROUP BE HELD LIABLE IN CONNECTION WITH OR FOR ANY CLAIMS, LOSSES, DAMAGES OR OTHER LIABILITIES, WHETHER IN CONTRACT, TORT OR OTHERWISE, ARISING OUT OF OR IN CONNECTION WITH THE PROGRAM OR THE RECEIPT OF ANY TOKENS OR VIRTUAL ASSETS.

THE ORGANIZER DOES NOT TAKE ANY RESPONSIBILITY FOR THE PARTICIPATION BY ANY PARTICIPANT IN THE PROGRAM AND SO EACH PARTICIPANT MUST SATISFY ITSELF BEFORE PARTICIPATING IN THE PROGRAM AND SHOULD NOT RELY ON THE ORGANIZER. THE ORGANIZER DOES NOT PROVIDE ANY RECOMMENDATION OR ADVICE IN RESPECT OF THE PROGRAM OR THE TOKENS OR VIRTUAL ASSETS IN ANY RESPECT. THE ORGANIZER HAS NOT ASSESSED THE SUITABILITY OF THE TOKENS OR VIRTUAL ASSETS FOR ANY PARTICIPANT. THE ORGANIZER DOES NOT GUARANTEE THAT THE PROGRAM OR THE TOKENS OR VIRTUAL ASSETS ARE COMPLIANT WITH THE LAWS, REGULATIONS, AND RULES OF ANY INDIVIDUAL PARTICIPANT’S JURISDICTION. EACH PARTICIPANT PARTICIPATES IN THE PROGRAM AT ITS OWN RISK AND RECEIVES TOKENS OR VIRTUAL ASSETS AT ITS OWN RISK.

PLEASE NOTE THAT THE PARTICIPANT IS NOT ELIGIBLE IF:

• THE PARTICIPANT IS LOCATED IN CANADA OR UNITED STATES OF AMERICA OR IS A CITIZEN, RESIDENT (TAX OR OTHERWISE) OR GREEN CARD HOLDER OF, OR DOMICILED IN, THE UNITED STATES OF AMERICA OR CANADA;
• SUCH PROGRAM IS PROHIBITED, RESTRICTED OR UNAUTHORIZED IN ANY FORM OR MANNER WHETHER IN FULL OR IN PART UNDER THE LAWS, REGULATORY REQUIREMENTS OR RULES IN THE JURISDICTION IN WHICH THE PARTICIPANT IS LOCATED;
• THE PARTICIPANT IS UNDER THE MINIMUM AGE OF CONSENT FOR DATA COLLECTION IN THEIR JURISDICTION (E.G., 16 YEARS OR OLDER IN SOME EUROPEAN UNION COUNTRIES). IF PARTICIPANT IS ABOVE THE MINIMUM AGE FOR PARTICIPATION BUT UNDER 18 YEARS OF AGE (OR SUCH OTHER MINIMUM AGE TO BE CONSIDERED AN ADULT, AS IS APPLICABLE IN THE JURISDICTION THAT PARTICIPANT LIVES IN) (A “MINOR”), PARTICIPANT MUST ASK A PARENT OR LEGAL GUARDIAN TO READ THIS AGREEMENT AND ACCEPT IT ON THEIR BEHALF. SUCH PARENTS AND GUARDIANS ARE RESPONSIBLE FOR THE ACTS OF THEIR MINORS WHEN USING THE SERVICES, WHETHER OR NOT THE PARENT OR GUARDIAN HAS AUTHORIZED SUCH USES. IF PARTICIPANT IS UNDER THE LEGAL AGE OF MAJORITY AND OVER THE AGE OF 13, PARTICIPANT’S PARENT OR LEGAL GUARDIAN MUST CONSENT TO THESE T&CS AS SET OUT HEREIN.
• THE PARTICIPANT IS LISTED UNDER ANY SANCTION ADMINISTERED BY THE UNITED STATES OFFICE OF FOREIGN ASSETS CONTROL OF THE UNITED STATES DEPARTMENT OF THE TREASURY (“OFAC”) OR ANY OTHER UNITED STATES GOVERNMENT AUTHORITY, IS DESIGNATED AS A “SPECIALLY DESIGNATED NATIONAL” OR “BLOCKED PERSON” BY OFAC OR SUBJECT TO ANY SIMILAR SANCTIONS OR MEASURES IMPOSED OR ADMINISTERED BY THE UNITED NATIONS SECURITY COUNCIL, THE EUROPEAN UNION, HER MAJESTY’S TREASURY OF THE UNITED KINGDOM OR SIMILAR SANCTIONS ADMINISTERED OR IMPOSED BY ANY OTHER COUNTRY (EACH SUCH PERSONS DESCRIBED IN (A), (B), (C) ABOVE AND THIS (D), A “PROHIBITED PERSON”).

These T&Cs govern the distribution and receipt of Core Tokens (“Tokens”) through the Program organized by Core Foundation (“Organizer”) and its Affiliates (Organizer and its Affiliates involved in administering the Program, “Organizer Group”). By participating in the Program, you (“Participant”) agree to be bound by these T&Cs.

• Eligibility:
  • Eligibility Criteria. The eligibility criteria for participation in the Program, including the amount of Tokens to be distributed to eligible Participants, will be determined by the Organizer in accordance with the principles set out in these T&Cs. Participants are considered “eligible” if, in addition to the other restrictions on eligibility described in these T&Cs, the following conditions obtain:
    • Participants must comply with all applicable laws and regulations in the Participant’s own jurisdiction and all jurisdictions governing the Organizer and/or these T&Cs.
    • Participant must not be a Prohibited Person.
    • Participants must provide accurate and complete information as requested by the Organizer and required for participation in the Program.
    • Participants maintain transparent and easy-to-access systems for data analysis and extraction (for example, Participants will be required to properly register and maintain data related to the Program on Defillama or DappRadar).
    • Participants must register with the Organizer during the Program Period (defined below) to participate in this program.
      • Registration must be done at the following webpage address: https://docs.google.com/forms/d/e/1FAIpQLSeWyiQd_BYdm4Kx2LZ uPtg1XQOILGvpj9hBUfvfNWjdGVFsQA/viewform.
      • To successfully register, Participants’ projects must have undergone at least one security audit from a reputable firm.
    • Projects must have actively maintained social media channels, forums, blogs, newsletters, or other outlets that showcase the project’s vision, mission, and roadmap, as reasonably determined by the Organizer.
  • Prohibited Activity. Participants shall not:
    • attempt to cheat or hack the Program or the Tokens;
    • carry out any kind of spamming;
    • or Behave in a manner that is offensive or inappropriate, including but not limited to, harassment and discrimination, and any such behavior will result in all of the Participant’s wallets being permanently banned from all of the Organizer’s Programs.
  • Additional Requirements. The Organizer reserves the right to request further information from the Participant and to verify Participant’s identity and eligibility and may decline requests to participate in the Program at its discretion. Availability is limited to certain jurisdictions only and subject to change. Qualifying Participants eligible to receive rewards under this Program may be required to provide the Core Foundation, or its affiliates, with information or certifications required to satisfy certain “know-your-customer” or “know-your-business” requirements in various jurisdictions. Organizer reserves the sole and absolute right to disqualify any proposed Participant it deems ineligible for the Program (be it under these T&Cs or by having engaged in any conduct that the Organizer considers inappropriate or unacceptable).
• Program Details:
  • Program Period. The Program will be conducted from March 25, 2024, 23:59:00 UTC – March 25, 2025, 23:59:00 UTC (the “Program Period”).
  • Participation Requirements. Participant must be an eligible Participant (as described in Section 1 above with applicable restrictions applying) and follow the specified instructions set out in herein and/or such other instructions as are provided by the Organizer from time to time to participate in the Program.
  • Token Allocation. The number of Tokens allocated to each Participant will be determined solely by the Organizer, and such allocation may vary among eligible Participants depending on the criteria determined by the Organizer, including metrics applicable to Participant individually and all participants collectively. Total amounts of Token allocations to each eligible Participant may consider factors such as (i) the total United States dollar value of assets locked or staked (“TVL”) in a Participant’s qualifying project and across all participants’ qualifying projects, (ii) daily active users (“DAU”) for a Participant’s project and across all participants’ qualifying projects, and (iii) number of transactions within Participant’s project and across all participants’ qualifying projects, each within the Program Period and as further described by the Organizer in public announcements. The Organizer will have no obligation to notify potential Program participants of the eligibility criteria for the Program prior to the completion of such Program. To the extent Organizer makes available any information with respect to the methodology, requirements, or other criteria that are conditions precedent to receiving any Tokens under the Program, any such methodologies, requirements, or other criteria shall be additive and complementary to these T&Cs, with these T&Cs controlling in the event of any conflict.
  • No Purchase Required. Participation in the Program does not require any purchase or payment although there may be transaction fees payable by the Participant to receive and/or claim their Tokens or participate in some of the activities applicable to the Program.
• Token Distribution:
  • Number of Recipients. The maximum number of winning Participants hereunder shall be thirty (30). The Organizer will distribute Tokens to the top ten (10) Participants from each applicable Program category (TVL, DAU, number of transactions) based on objective, measurable criteria. Any such distribution shall be subject to publicly announced methodologies by the Organizer.
  • Dynamic Prize Pool: The maximum number of Tokens to be distributed hereunder shall be 400,000 Tokens. The number of Tokens to be distributed is dynamic, such that the number may decrease based on objectively measurable metrics described by Organizer in separate public announcements.
  • Token Distribution. Any winning Participants hereunder shall receive Tokens as follows: fifty percent (50%) of any amounts payable to Participants during any monthly period shall be sent to such Participants’ wallet address within two (2) weeks following each monthly activity period. Participants must maintain the same levels of TVL, DAU and number of transactions, with reductions no less than fifteen percent (15%), until next calendar month, for a distribution of a full reward.
  • Wallet Requirement. Participants must provide a compatible wallet address capable of receiving the Tokens. Failure to provide a valid wallet address may result in the forfeiture of Tokens.
  • Gas Fees. By claiming or otherwise receiving or transacting any Tokens, the Participant agrees to pay any and all applicable fees, including gas fees. Gas fees fund the network of computers that run decentralized blockchain networks, including the Network, meaning that Participant will need to pay gas fees for each transaction that occurs via a blockchain network.
  • Errors. If Participant receives any Tokens in error, the Organizer may require that the transfer of any Tokens be reversed. Participant agrees to cooperate fully with the Organizer’s efforts to effectuate such reversal.
• Token Transfer:
  • Tokens will either be transferred to the designated wallet address(es) provided by Participant within a reasonable timeframe or be claimable by such designated wallet, subject to technical limitations or delays. There may be transaction fees payable by the Participant to receive and/or claim such Tokens.
• Use of Tokens:
  • Token Usage. Participants acknowledge and agree that the Tokens received through the Program may have specific usage limitations, such as utility within a specific platform or ecosystem, and may have no monetary value.
  • No Investment Advice. Tokens received through the Program are not intended as investment advice, and Participant acknowledges that any Token value (if any) may fluctuate and that no guarantees are made regarding future value (if any).
  • Not Securities. Tokens are not intended to constitute securities or investment instruments of any form, shares of a company, units in a trust, units in a collective investment scheme, investment contract or any other form of investment in any jurisdiction. These T&Cs do not constitute a prospectus or offer document of any sort and is not intended to constitute an offer of securities of any form, shares of a company, units in a trust, units in a collective investment scheme, investment contract or any other form of investment, or a solicitation for any form of investment in any jurisdiction.
• Participant Representations and Warranties:
  • Compliance. Participant represents and warrants that they will comply with all applicable laws and regulations in relation to the Program and the use of Tokens.
  • Accuracy of Information. Participant represents and warrants that all information provided during the Program is true, accurate, and complete.
  • Prohibited Person. Participant represents and warrants that they are not a Prohibited Person as that term is defined herein.
  • Participant’s Technical Skills. Participant represents and warrants that it has at least a basic degree of understanding of the operation, functionality, usage, storage, transmission mechanisms and other material characteristics of cryptocurrencies, blockchain-based software systems, cryptocurrency wallets or other related token storage mechanisms, blockchain technology and smart contract technology.
  • Age. If you are a parent or guardian of a Minor Participant, you are agreeing to these T&Cs on your behalf and on behalf of your Minor(s) whom you have authorized to participate in the Program pursuant to these T&Cs. YOU MUST BE AND HEREBY AFFIRM THAT YOU ARE AN ADULT OF THE LEGAL AGE OF MAJORITY IN YOUR COUNTRY OR STATE OF RESIDENCE.
  • Participant understands, acknowledges and agrees that a failure or inaccuracy with respect to this Section 8 in any form will result in Participant’s disqualification from, and ineligibility to participate in, the Program.
• Disclaimers:
  • To the maximum extent permitted by all applicable laws, regulations and rules and except as otherwise provided in these T&Cs, the Organizer Group (as defined below) hereby expressly disclaims its liability and shall in no case be liable to a Participant or any other person for:
  • postponement, suspension and/or abortion of the Program;
  • any failure, or disruption to, the Program, the operations of the Organizer or any other technology (including but not limited to smart contract technology) associated therewith, due to any reason, including but not limited to occurrences of hacks, mining attacks (including but not limited to double-spend attacks, majority mining power attacks and “selfish-mining” attacks), cyber-attacks, distributed denials of service, errors, vulnerabilities, defects, flaws in programming or source code or otherwise, regardless of when such failure, malfunction, breakdown, or disruption occurs;
  • any failure, malfunction, virus, error, bug, flaw, defect in the technology connected with or use for affecting the Tokens or a Participant’s participation in the Program;
  • any prohibition, restriction or regulation by any government or regulatory authority in any jurisdiction applicable to the Tokens or a Participant’s participation in the Program;
  • loss of possession of the credentials for accessing, or loss or destruction of the private keys of, any wallet and/or the Participant’s designated wallet addresses, in any manner and to any extent;
  • failure to disclose information relating to the progress of the Program;
  • any risks associated with a Participant’s participation in the Program and/or a Participant’s use of the Tokens;
  • all other risks, direct, indirect or ancillary, whether in relation to a Participant’s participation in the Program and/or a Participant’s use of the Tokens which are not specifically or explicitly contained in or stated in these T&Cs; and
  • any failure to obtain any Tokens in this Program.
  • Organizer may restrict, modify, or limit access to any or all of the Program, depending on the territory in which Participants are located. Without limiting the foregoing, the Program may not be available (in whole or in part) where Participant is located. Organizer’s Program are not offers or solicitation in any jurisdiction where Organizer is not authorized to offer the Program.
  • TOKENS EXIST ONLY BY VIRTUE OF THE OWNERSHIP RECORD MAINTAINED ON THE APPLICABLE BLOCKCHAIN NETWORK. ANY TRANSFER OF TITLE THAT MIGHT OCCUR DOES SO ON THE DECENTRALIZED LEDGER WITHIN SUCH BLOCKCHAIN NETWORK, WHICH THE ORGANIZER DOES NOT CONTROL. THE ORGANIZER DOES NOT GUARANTEE THAT IT CAN AFFECT THE TRANSFER OF TITLE OR RIGHT OF ANY TOKENS. THE ORGANIZER MAKES NO CLAIMS ABOUT THE IDENTITY, LEGITIMACY, OR AUTHENTICITY OF TOKENS ON ANY THIRD-PARTY MARKETPLACE OR ANY PURPORTED SUBSEQUENT TRANSACTIONS.
  • THE FOREGOING LIMITATIONS AND EXCLUSIONS REGARDING DAMAGES APPLY EVEN IF ANY REMEDY FAILS TO PROVIDE ADEQUATE COMPENSATION AND ARE FUNDAMENTAL ELEMENTS OF THE BASIS OF THE BARGAIN BETWEEN PARTICIPANT AND ORGANIZER. Some countries, states, provinces, or other jurisdictions do not allow the exclusion of certain warranties or the limitation of liability as stated above, so the above terms may not apply to Participant. Instead, in such jurisdictions, the foregoing exclusions and limitations will apply to the maximum extent permitted by the laws of such jurisdictions. Also, Participant may have additional legal rights in Participant’s jurisdiction.
  • For the purposes of these T&Cs, “Affiliate” with respect to any person, means any other person directly or indirectly controlling, controlled by or under common control with such person; and with respect to the Organizer, means any other person directly or indirectly controlling, controlled by or under common control with such person.
• Limitation of Liability and Indemnification:
  • To the maximum extent permitted by the applicable laws, regulations and rules:
    • The Organizer Group and the Indemnified Persons (as defined below) shall not be liable for any indirect, special, incidental, consequential or other losses of any kind, in tort, contract or otherwise (including but not limited to loss of revenue, income or profits, and loss of use or data), arising out of or in connection with a Participant’s participation in the Program;
    • without prejudice to the foregoing, each Participant hereby agree that the aggregate liability of the members of the Organizer Group, in tort, contract or otherwise, arising out of or in connection with the participation in the Program shall in any event be limited to US$1.00; and
    • each Participant hereby agrees to waive all rights to assert any claims against the Organizer Group and/or the Indemnified Persons under such applicable laws, regulations and rules.
  • To the maximum extent permitted by the applicable laws, regulations and rules, each Participant shall indemnify, defend, and hold the Organizer Group and the Indemnified Persons harmless from and against any and all claims, damages, losses, suits, actions, demands, proceedings, expenses, and/or liabilities (including but not limited to reasonable legal fees incurred and/or those necessary to successfully establish the right to indemnification) filed/incurred by any third party against any member of the Organizer Group or the Indemnified Persons arising out of a breach by the Participant of any warranty, representation, or obligation hereunder.
  • For the purposes of these T&Cs, “Indemnified Persons” means the Organizer Group and each of their respective subsidiaries, related companies, Affiliates, directors, officers, employees, agents, service providers, successors, and permitted assignees.
• Governing Law and Jurisdiction:
  • Governing Law. These T&Cs and the Program shall be governed by and construed in accordance with the laws of the British Virgin Islands.
  • Jurisdiction. Any disputes arising from or in connection with these T&Cs or the Program shall be subject to the exclusive jurisdiction of the courts of the British Virgin Islands.
  • Any distribution is subject to all applicable local laws, rules and regulations of the applicable jurisdiction. Each recipient shall determine which laws, rules, and regulations are applicable to them and shall undertake all necessary efforts to comply with all such obligations. Core Foundation and its affiliates make no representation of the legal status of any distribution of tokens or virtual assets under any jurisdiction and any such distribution is void where prohibited. Furthermore, nothing in this Program should be construed as advice of any kind, including legal, business, investment or tax advice. Any distribution hereunder does not constitute an offer to sell or the solicitation of an offer to purchase any investment.
• General Terms:
  • Intellectual Property. Participant acknowledges and agrees that all intellectual property rights related to the Program and the Tokens, including but not limited to trademarks, logos, and content, are the sole property of the Organizer.
  • Modification and Termination. The Organizer reserves the right to modify, suspend, or terminate the Program or these T&Cs at any time without prior notice.
  • Token Terms and Conditions. These T&Cs are separate and distinct from any terms and conditions related or governing the Tokens and/or any news, update or articles as published or released on the website of the Organizer or of the Token’s official website (the “Publications”). To the extent of any inconsistency between the T&Cs and the Publications, these T&Cs shall prevail to the extent of the inconsistency.
  • The Tokens are not intended to constitute securities of any form, units in a business trust, units in a collective investment scheme or any other form of investment in any jurisdiction. These T&Cs do not constitute a prospectus or offer document of any sort and are not intended to constitute an offer of securities of any form, units in a business trust, units in a collective investment scheme or any other form of investment, or a solicitation for any form of investment in any jurisdiction. No regulatory authority has examined or approved of these T&Cs . No such action has been or will be taken by the Organizer under the laws, regulatory requirements or rules of any jurisdiction.
• Risk Factors; Risk of Participation; Tokens:
  • The tax treatment of the Agreement, the purchase rights contained therein and the Token distribution is uncertain and there may be adverse tax consequences for Participants upon certain future events.
  • The tax characterization of the Tokens is uncertain, and each Participant must seek his, her or its own tax advice in connection with the Program. The Program may result in adverse tax consequences to the Participant, including withholding taxes, income taxes and tax reporting requirements. Each Participant should consult with and must rely upon the advice of its own professional tax advisors with respect tax treatment of an investment in the Tokens pursuant to these T&Cs.
  • There is no assurance that an active or liquid trading market for the Tokens will develop or if developed, be sustained after the Tokens have been made available for trading on any cryptocurrency exchange. There is also no assurance that the market price of the Tokens will not decline.
  • A Token is not a currency issued by any central bank or national, supra-national or quasi-national organization, nor is it backed by any hard assets or other credit. Organizer is not responsible for nor does it pursue the circulation and trading of Tokens on the market. Trading of Tokens merely depends on the consensus on its value between the relevant market participants, and no one is obliged to purchase any Token from any holder of the Token, including the purchasers, nor does anyone guarantee the liquidity or market price of Tokens to any extent at any time. Accordingly, Organizer cannot ensure that there will be any demand or market for Tokens, or that the certain price of Tokens after they have been made available for trading on a cryptocurrency exchange.
  • Future sales of the Tokens could materially and adversely affect the market price of Tokens. Any future sale of the Tokens would increase the supply of Tokens in the market and this may result in a downward price pressure on the Token. The sale or distribution of a significant number of Tokens, or the perception that such further sales or issuance may occur, could adversely affect the trading price of the Tokens.
  • The Organizer may face challenges in foreseeing and managing occurrences such as hacks, cyber-attacks, mining attacks (including double-spend attacks, majority mining power attacks, and “selfish-mining” attacks), distributed denials of service, as well as errors, vulnerabilities, or defects in the Tokens, compatibility with certain cryptocurrency wallets or related technologies (including smart contract technology). These incidents could stem from programming or source code flaws, leading to exploitation or abuse. The Organizer may not be able to timely detect these issues or efficiently address multiple service incidents occurring simultaneously or successively due to limited resources. Additionally, the Organizer could encounter system failures, unplanned network or service interruptions, hardware or software defects, security breaches, or other disruptive events, including natural disasters, equipment malfunctions, network downtime, power outages, or intentional service disruptions such as software viruses or unauthorized user attacks, some beyond its control. The possibility of future cyber-attacks, like distributed denials of service, remains, with no guarantee that enhanced security measures will be effective. Attacks targeting the infrastructure to steal technology, financial, or user information, or other damaging actions, could jeopardize the Organizer and/or the Participants. Significant breaches or disruptions compromising the usability, stability, and security of the Token network or services may negatively impact the Tokens’ price or utility.
  • General global market and economic conditions may have an adverse impact on the Token’s ability to be used as intended.
  • The Organizer could be affected by general global economic and market conditions. Challenging economic conditions worldwide have from time to time, contributed, and may continue to contribute, to slowdowns in the information technology industry at large. Weakness in the economy could have a negative effect on the Organizer’s business, operations and financial condition, including decreases in revenue and operating cash flows. Additionally, in a down-cycle economic environment, the Organizer may experience the negative effects of increased competitive pricing pressure and a slowdown in commerce and usage of Tokens. The Organizer will rely for servers, bandwidth, location and other services could also be negatively impacted by economic conditions that, in turn, could have a negative impact on the Token’s ability to be used as intended. There can be no assurance, therefore, that current economic conditions or worsening economic conditions or a prolonged or recurring recession will not have a significant adverse impact on the Token’s utility and performance.

Cryptocurrency trading is generally unregulated worldwide, but numerous regulatory authorities across jurisdictions have been outspoken about considering the implementation of regulatory regimes which govern cryptocurrency or cryptocurrency markets. The Organizer and/or the Tokens may be affected by newly implemented regulations relating to cryptocurrencies or cryptocurrency markets, including having to take measures to comply with such regulations, or having to deal with queries, notices, requests or enforcement actions by regulatory authorities, which may come at a substantial cost and may also require substantial modifications to the Tokens. This may impact the appeal of the Tokens for users and result in decreased usage of the Tokens platform. Further, should the costs (financial or otherwise) of complying with such newly implemented regulations exceed a certain threshold, maintaining the Tokens may no longer be commercially viable and The Organizer may opt to discontinue the Tokens utility or operation. Further, it is difficult to predict how or whether governments or regulatory authorities may implement any changes to laws and regulations affecting distributed ledger technology and its applications, including the Tokens and its utility. The Organizer may also have to cease operations in a jurisdiction that makes it illegal to operate in such jurisdiction, or make it commercially unviable or undesirable to obtain the necessary regulatory approval(s) to operate in such jurisdiction. In scenarios such as the foregoing, the trading price of Tokens may be adversely affected or Tokens may cease to be traded.

© 2024 CORE FOUNDATION

Get Ignited!