DO NOT PURCHASE ETR IF YOU ARE NOT AN EXPERT IN DEALING WITH CRYPTOGRAPHIC TOKENS AND BLOCKCHAIN-BASED SOFTWARE SYSTEMS. PRIOR TO PURCHASING ETR, YOU SHOULD CAREFULLY CONSIDER THE TERMS LISTED BELOW AND, TO THE EXTENT NECESSARY, CONSULT AN APPROPRIATE LAWYER, ACCOUNTANT, OR TAX PROFESSIONAL. IF ANY OF THE FOLLOWING TERMS ARE UNACCEPTABLE TO YOU, YOU SHOULD NOT PURCHASE ETR.PURCHASES OF ETR SHOULD BE UNDERTAKEN ONLY BY INDIVIDUALS, ENTITIES, OR COMPANIES THAT HAVE SIGNIFICANT EXPERIENCE WITH, AND UNDERSTANDING OF, THE USAGE AND INTRICACIES OF CRYPTOGRAPHIC TOKENS, INCLUDING ETHEREUM TOKENS, AND BLOCKCHAIN BASED SOFTWARE SYSTEMS. PURCHASERS SHOULD HAVE A FUNCTIONAL UNDERSTANDING OF STORAGE AND TRANSMISSION MECHANISMS ASSOCIATED WITH OTHER CRYPTOGRAPHIC TOKENS. WHILE THE COMPANY WILL BE AVAILABLE TO ASSIST PURCHASERS OF ETR DURING THE SALE, THE COMPANY WILL NOT BE RESPONSIBLE IN ANY WAY FOR LOSS OF ETH OR ETR RESULTING FROM ACTIONS TAKEN BY OR OMITTED BY PURCHASERS. IF YOU DO NOT HAVE SUCH EXPERIENCE OR EXPERTISE, THEN YOU SHOULDN'T PURCHASE ETR OR PARTICIPATE IN THE SALE OF ETR. YOUR PARTICIPATION IN ETR SALE IS DEEMED TO BE YOUR UNDERTAKING THAT YOU SATISFY THE REQUIREMENTS MENTIONED IN THIS PARAGRAPH. PURCHASER AGREES TO BUY, AND COMPANY AGREES TO SELL, THE ETR TOKENS IN ACCORDANCE WITH THE FOLLOWING TERMS:
Citizens, nationals and any legal or natural persons residing in People’s Republic of China,Singapore, Canada, South Korea and / or the United States of America, including Puerto Rico,the U.S. Virgin Islands or any other territories in the possession of the USA, are prohibited from purchasing ETR tokens in private pre-sale or public sale. Only US citizens/residents, that are accredited investors, are eligible for ETR purchase. The Company has full discretion to decide whether to sell ETR tokens to such investors.If such prohibited or restricted persons purchase or try to purchase ETR tokens, such person has done so on an unlawful, unauthorized and fraudulent basis and in this regard and will lonebear negative consequences. Aforesaid persons that participate in the token sale by providing false information about their citizenship, residency place and nationality will be in breach of these Terms and will be required to indemnify ETR Ltda. in respect of any damages and/losses suffered due to this breach in accordance with the indemnification provisions set out in these Terms.
When you purchase, or otherwise receive ETR token, you may only do so by accepting the following conditions and, by doing so, you warrant and represent that the following are a true and accurate reflection of the basis on which you are acquiring the ETR tokens:
• neither the Company nor any of the ETR Team has provided you with any advice regarding whether ETR is a suitable investment for you;
• you have enough knowledge and understanding of the functionality, usage, storage,transmission mechanisms and intricacies associated with cryptographic tokens, such as (but not limited to) Bitcoin and Ether, as well as blockchain-based software systems generally;
• you are legally permitted to receive and hold and make use of ETR in your and any other relevant jurisdiction;
• you will provide us with all information, documentation or copy documentation that we require to perform a KYC (Know your Customer) and sell ETR to you;
• you have not provided us with the false personal information during KYC or otherwise, information that are inaccurate or misleading;
• you will provide us with any additional information which may be reasonably required in order that we can fulfil our legal, regulatory and contractual obligations, including but not limited to any anti-money laundering obligation;
• you will notify us promptly of any change to the information provided by you to us;
• you are at least 18 years old (if an individual) to legally obtain ETR, and you are not aware of any other legal reason to prevent you from obtaining ETR;
• you take sole responsibility for any restrictions and risks associated with receiving and holding ETR, including but not limited to these set out in Annex A;
• by acquiring ETR, you may not make a regulated investment according to the jurisdiction that applies to you as am investor;
• you are not obtaining or using ETR for any illegal purpose, and will not use ETR for any illegal purpose;
• the acquisition of ETR does not give you the right to profits, shares, ownership, dividends, voting rights, equity or any equivalent in any existing or future public or private company, corporation or other entity in any jurisdiction, unless decided so by the Company;
• to the extent permitted by law and provided we act in good faith, the Company makes no warranty whatsoever, either expressed or implied, regarding the future success of ETR and/or the Ethereum Network;
• you accept that ETR is created and you obtain ETR on an “as is” and “under development” basis.Therefore, provided that the Company acts in good faith, you accept that the Company is providing ETR without being able to provide any warranties in relation to ETR, including, but not limited to, title, merchantability or fitness for a particular purpose;
• you accept that you bear sole responsibility for determining if (i) the acquisition, the allocation,use or ownership of ETR (ii) the potential appreciation or depreciation in the value of ETR overtime, if any, (iii) the sale and purchase of ETR; and/or (iv) any other action or transaction related to ETR has tax implications.
ETR is a utility token with utility features, is ERC20-compliant and embedded in the Ethereum Blockchain as a smart contract.
ETR is required for proper operation and comprehensive utilization of ETR (as defined in the white paper(the “White Paper”) provided at https://www.electric-token.io (the “Website”) as of the date the Purchaser acquires ETR token). After the ETR sale, each ETR is backed by the purchase of the underlying assets, as described in the White Paper. To the extent they do not contradict these Terms, the rights connected to ETR are subject to the limitations set out in the White Paper, but this should in no case create obligations for the Company in addition to the ones contained in these Terms. The Company Reserves the right to circumvent the algorithm used to select the underlying assets if it believes, in its sole discretion, that such selected underlying assets could adversely affect the Company or ETR from a regulatory or legal perspective. The Company shall have the right to sell any such underlying assets (if already part of ETR portfolio) and block their acquisition.
UTILITY FEATURES OF ETR
The utility features of ETR depends on the electric token platform
.- Peer-to-Peer Energy Trading (People can also use the platform for trading of surplus electricity generated);
- Retailer Advertising;
- Pay Utility Bills;
- Minimum ETR trading deposit;
- The platform also provides carbon credits for green energy transactions
- Consumers who have the Electric Token can pay for the services using the token. There are no monthly subscriptions;
- only minimum ETR deposit (both producers and consumers).
- loyal consumers who have a specific amount of token in their wallet will get a 1% airdrop till the release of the platform.
Token sale projects with issuing and exchanging Tokens may not legally be regulated in some jurisdictions, and there is a major absence of regulations, legal practice and regulators’ guidance. By Participating in this Project, you acknowledge that you have been informed about the following risks associated with the Project, the Website, the Promotional materials, the Tokens, the developed Platform,Applications software and the Token distribution.
The maximum total amount of ETR to be issued is 300,000,000 (roughly equivalent toUS$105,000,000). ETRs are generated as Purchasers buy them and the total supply of ETRs will be fixed after the end of the ETR sale. No more ETR will be issued after the end of the ETR sale, as described in the preceding paragraph. Ownership of ETR during the ETR token sale carries no rights express or implied. Purchases of ETR are non-refundable.
To contribute in our crowd sale, the contributor have to register the ETR Ambassador Backoffice. The Development, maintenance control of ETR Ambassador backoffice and Electric token smart-contract is under control of the third trusted party ALPHACRYPT D.O.O. The ETR Ambassador backoffice is an office for each contributor, where he can under section “my wallet / buy Electric Token” find the contribution Ethereum address and contribute to get in exchange ETR tokens.
Eligibility for the private or public token sale.
You understand and accept, that purchase of ETR tokens will be possible from a public Ethereum wallet address which will be announced on the day when the first contribution phase starts. Before the start of the first contribution phase, there could be some investments already, therefore there is a private allocation for private investors who could will get the same Ethereum from an ETR promoter.
To be eligible to participate in the token sale and purchase the ETR tokens, you will have to undergo our KYC procedure. On an affiliate link provided to you, when you register and enter your backoffice, you will be prompted to complete the KYC form and provide us with your personal information listed in the next paragraph (“Personal Information”). You confirm by using our KYC procedure and providing the Personal Information to us, that all information provided within our KYC procedure is true and accurate and that that you do not act on behalf of any third party.
KYC (Know your customer) PROCEDURE:
You may be required to provide the Token Provider with certain personal information, including but not limited to, your name, surname, address, telephone number, e-mail, date of birth, personal ID, passport,utility bills, video or live identification of the person etc. You hereby authorize the Token Provider to directly make any inquiries we consider necessary to verify your identity and/or account information, and request and obtain any consumer report or similar information relating to you and to act as we reasonably deem necessary based on the results of such inquiries.
You will be required to provide us with the following information: Your name, address of the permanent residence, address of the temporary residence, date of birth, place of birth, citizenship, ID(personal document) number, type of ID, date of issue of the ID, expiration date of the ID, e-mail address, telephone number, your ERC20 compliant wallet address from which you will send ETH.
If you purchase ETR tokens as a legal entity you will be required to provide us with the following information: Legal entity’s name, registered office, business address, registration number, name of the representative, country of registration, tax ID number, e-mail address, excerpt from the business register which is not more than three months old. The contact address where you can contact us email@example.com.
Once you provide to us all the above Personal Information and/or information about the legal entity we will process your KYC procedure application. It is in our sole discretion to select which participants among the ones which provided us with their Personal Information in our KYC procedure will be accepted to the token sale list of participants and approved as Private Pre-sale participants (“Private Pre-sale Participants”). The Company has absolute discretion and may reject you and any amount of currency you paid for any reason or no reason at all. The final decision who and for what amount of ETR will be added to the Token sale list of participants will be made by us as soon as technically possible, but not later than 2 weeks after we will receive your Personal Information.
You must pay the purchase price for the ETR tokens in ETH by sending the appropriate amount of ETHto the individualised Ethereum wallet address of the Company provided to you in the welcoming email which details were provided to you after completed our KYC procedure. You will be entitled to the amount of ETR tokens which equals to the amount of ETH you paid to the Company multiplied by the applicable exchange rate and divided by the USD price per one (1) ETR token, considering the bonus schedule. We reserve the right to prescribe additional guidance regarding specific wallet requirements.
Your purchase is not guaranteed until we receive the amount of the ETH that you have sent to the individualised Ethereum wallet address of the Company. If we have not received your payment, we reserve the right to void your purchase request and refuse to accept your payment. We reserve the right, in our sole discretion, to modify any of the timelines and procedures described herein to account for network congestion or other technical challenges.
Do not share your individual Ethereum wallet address of the company provided to you during the tokensale nor any other personal information. Private keys, passwords and anything else that could jeopardize the security of your funds. The Company is not responsible for such actions nor is responsible if you send funds to another address, not the one provided to you in the Token sale event of Electric token.
Purchasers in the ETR token sale will be allocated their ETR tokens in exchange for ETH at the following rate:
- FIRST CONTRIBUTION PHASE STARTS 1.9.2018 AND ENDS 1.11.2018 THE PRICE OF ONE ETR TOKEN IS 0,35$
- SECOND CONTRIBUTION STARTS 1.11.2018 AND ENDS 1.1.2019 THE PRICE OF ONE ETR TOKEN IS 0,50$
- THIRD CONTRIBUTION STARTS 1.1.2019 AND ENDS 1.5.2019 THE PRICE OF ONE ETR TOKEN IS 0,60$
- FOURTH CONTRIBUTION STARTS 1.5.2019 AND ENDS 1.10.2019 THE PRICE OF ONE ETR TOKEN IS 0,70$
Between the contribution phases will be available some bonus tokens.
Minimum contribution is 100$ in ETH.
The US Dollars to ETH exchange rate is used to dynamically set the ETH to ETR rate. Purchaser must have an Ethereum wallet that supports the ERC-20 token standard to receive any ETR purchased from the Company.
SOFT CAP is set at 50.000 USD.
HARD CAP is set at 105.000.000 USD.
If the funds raised during the Token Sale all together do not reach the minimum target of 50.000 USD(“Soft Cap”) by the end of the Token Sale, the Smart Contract System will not deliver ETR tokens to the contributors and will instead return the received payments from contributors to the addresses provided in the KYC process & in the ETR ambassador Backoffice.
In that circumstance, the Company will not have any further obligations to contributors, under these Terms or any other agreement, after contributor’s contribution is returned to the Contributor’s addresses provided in the KYC process. Electric token company with a reach of a hard cap maximum of 105.000.000 USD; 50% will be intended to buy physical gold, Real-estates and stocks (52,5 mio USD), 15% (15,75 mio USD) for ETR Ltd Business activities and development; the marketing activities, ETR door2door selling scheme in brazil,ETR ambassador Backoffice and the Electric Token platform. 30% (31,5 mio USD) will be paid for affiliate payment rewards of the ETR ambassador program and the 5% (5,25 mio USD) will be for the“Ambassador Program” payment reward pool.
The Company reserves the right to change the sale dates, specified in the previous article, or extend the sale duration for any reason, including the unavailability of the Website or other unforeseen security or procedural issues.
The Purchasers should have no expectation of influence over governance of the Company.
Upon the conclusion of a successful ETR sale (soft cap reached), the digital assets backing each ETR token will be transparently purchased.
The Company will provide you with an official and regular audit conducted on the existence of the digital assets backing each ETR token. Through this audit, you can track and confirm that the digital assets backing your ETR have been received and acquired. Access to the audit results does not constitute ETR purchase receipt or indicate in any way that the party possessing such access has rights to or ownership of the purchased ETR tokens.
Prior to a Purchaser selling ETR after the ETR token sale completion, such Purchaser shall ensure that the buyer of any such ETR undertakes to comply with all the provisions of these Terms as if such person were a Purchaser in the ETR token sale.
The Company warrants that neither the company nor its shareholders will purchase ETR during the ETR sale. Furthermore, the Company warrants that neither the company nor its shareholders will purchase ETR from any third party during the period of the ETR sale.
ALL PURCHASES OF ETR ARE FINAL. PURCHASES OF ETR ARE NON-REFUNDABLE. BY PURCHASING ETR,THE PURCHASER ACKNOWLEDGES THAT NEITHER THE COMPANY NOR ANY OF ITS AFFILIATES, DIRECTORS OR SHAREHODELRS ARE REQUIRED TO PROVIDE A REFUND FOR ANY REASON.
IF THE COMPANY BELIEVES, IN ITS SOLE DISCRETION, THAT ANY INDIVIDUALS OR ENTITIES OWNING ETR CREATE MATERIAL REGULATORY OR OTHER LEGAL RISKS OR ADVERSE EFFECTS FOR THE COMPANY AND/OR ETR, THE COMPANY MAY RESERVES THE RIGHT TO: (A) BUY ALL ETR FROM SUCH ETR OWNERSAT THE THEN-EXISTING MARKET PRICE AND/OR (B) SELL ALL CRYPTOCURRENCY ASSETS OF THE COMPANY.
The Purchaser bears the sole responsibility to determine if the purchase of ETR with BTC, LTC, ETH or the potential appreciation or depreciation in the value of ETR over time has tax implications for the Purchaser In the Purchaser's home jurisdiction. By purchasing ETR, and to the extent permitted by law, the Purchaser agrees not to hold any of the Company, its affiliates, shareholders, director, or advisors liable for any tax liability associated with or arising from the purchase of ETR.
TO THE FULLEST EXTENT POSSIBLE BY APPLICABLE LAW, IN NO EVENT SHALL THE COMPANY OR ANY OFTHE COMPANY INDEMNIFIED PARTIES BE LIABLE TO YOU OR ANYONE ELSE FOR ANY INDIRECT, SPECIAL,INCIDENTAL, CONSEQUENTIAL, OR EXEMPLARY DAMAGES OF ANY KIND. INCLUDING, BUT NOT LIMITED TO, WHERE RELATED TO LOSS OF REVENUE, INCOME OR PROFITS, LOSS OF USE OR DATA, OR DAMAGES FOR BUSINESS INTERRUPTION, ARISING OUT OF OR IN ANY WAY RELATED TO THE SALE OR USE OF THEETR TOKENS OR OTHERWISE RELATED TO THESE TERMS, REGARDLESS OF THE FORM OF ACTION,WHETHER BASED IN CONTRACT, TORT (INCLUDING, BUT NOT LIMITED TO, SIMPLE NEGLIGENCE,WHETHER ACTIVE, PASSIVE OR IMPUTED), OR ANY OTHER LEGAL OR EQUITABLE THEORY (EVEN IF THE PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES AND REGARDLESS OF WHETHER SUCH DAMAGES WERE FORESEEABLE). IN NO EVENT SHALL THE COMPANY AGGREGATE ITS LIABILITY AND THE COMPANY INDEMNIFIED PARTIES (JOINTLY), WHETHER IN CONTRACT, WARRANTY, TORT(INCLUDING NEGLIGENCE, WHETHER ACTIVE, PASSIVE OR IMPUTED), OR OTHER THEORY, ARISING OUTOF OR RELATING TO THESE TERMS OR THE USE OF OR INABILITY TO USE THE ETR TOKENS, EXCEED THE AMOUNT YOU PAY TO US FOR THE ETR TOKENS. THE LIMITATIONS SET FORTH ABOVE SHALL NOT LIMIT OR EXCLUDE LIABILITY FOR THE GROSS NEGLIGENCE, FRAUD OR INTENTIONAL, WILLFUL OR RECKLESS MISCONDUCT OF THE COMPANY.
The Company shall not be liable for any compensation, reimbursement, or damages arising in connection with: (i) your inability to participate in the Pre-Sale, including without limitation as a result of any termination or suspension of the Website https://www.electric-token.io/ or these Terms, power outages, maintenance, defects, system failures, mistakes, omissions, errors, defects, viruses, delays in operation or transmission or any failure of performance, (ii) the cost of procurement of substitute goods or services, (iii) any of your expenditures, or commitments in connection with these Terms or your participation in the Token Sale or use of the Services, (iv) your reliance on any information obtained from the Company, (v) Force Majeure Event, communications failure, theft or other interruptions or (vi) any unauthorized access, alteration, deletion, destruction, damage, loss or failure to store any data, including records, private key or other credentials, associated with Token Sale, ETRPlatform, Personal Information.
The ETR Team is also not liable for failure to perform solely caused by force majeure including but not limited to
- unavoidable casualty,
- delays in delivery of materials,
- government orders,
- acts of civil or military authorities,
- acts of criminal communities,
- cts by common carriers,
- emergency conditions (including weather conditions),
- security issues arising from the technology used.
Or any similar unforeseen event that renders performance commercially implausible. If an event of force majeure occurs, the party injured by the other's inability to perform may elect to suspend the Terms, in whole or part, for the duration of the force majeure circumstances. The party experiencing the force majeure circumstances shall cooperate with and assist the injured party in all reasonable ways to minimize the impact of force majeure on the injured party.
Information, products, and services included in or available through Website may include inaccuracies or typographical errors. Changes are periodically added to the information herein. The Company may make improvements or changes on the Website at any time. No information provided to you by the Company will be considered or construed as advice.
THE PURCHASER EXPRESSLY AGREES THAT THE PURCHASER IS PURCHASING ETR AT THE PURCHASER'S SOLE RISK AND THAT ETR IS PROVIDED ON AN "AS IS" BASIS WITHOUT WARRANTIES OF ANY KIND,EITHER EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, WARRANTIES OF TITLE OR IMPLIED WARRANTIES, MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE (EXCEPT ONLY TO THE EXTENT PROHIBITED UNDER APPLICABLE LAW WITH ANY LEGALLY REQUIRED WARRANTY PERIOD TO THE SHORTER OF THIRTY DAYS FROM FIRST USE OR THE MINIMUM PERIOD REQUIRED). WITHOUT LIMITING THE FOREGOING, NONE OF THE ETR TEAM WARRANTS THAT THE PROCESS FOR PURCHASING ETR WILL BE UNINTERRUPTED OR ERROR-FREE.
These Terms set forth the entire understanding between the Purchaser and the Company ETR Ltda with respect to the purchase and sale of ETR. For facts relating to the sale and purchase, the Purchaser agrees to rely only on the Terms in determining purchase decisions and understands that the Terms govern the sale of ETR and supersede any public statements about the ETR token sale made by third parties or by the ETR Team or individuals associated with any of the ETR Team, past and present and during the ETRs token sale.
The Purchaser and the Company agree that if any portion of these Terms is found illegal or unenforceable, in whole or in part, such provision shall, as to such jurisdiction, be ineffective solely to the extent of such determination of invalidity or unenforceability without affecting the validity or enforceability thereof in any other manner or jurisdiction and without affecting the remaining provisions of the Terms, which shall continue to be in full force and effect.
The failure of the Company to require or enforce strict performance by the Purchaser of any provision of these Terms or the Company’s failure to exercise any right under these Terms shall not be construed as a waiver or relinquishment of the Company's right to assert or rely upon any such provision or right in that or any other instance. There are no guarantees at all. The express waiver by the Company of any provision, condition, or requirement of these Terms shall not constitute a waiver of any future obligation to comply with such provision, condition or requirement. Except as expressly and specifically set forth in these Terms, no representations, statements, consents, waivers, or other acts or omissions by the ETR Team shall be deemed a modification of these Terms nor be legally binding.
The Company reserves the right, at its sole discretion, to change, modify, add, or remove portions of the Terms at any time during the sale by posting the amended Terms on the Website. Any Purchaser Will be deemed to have accepted such changes by purchasing ETR. The Terms may not be otherwise amended except by express consent of both the Purchaser and the Company.
The Company will cooperate with all law enforcement enquiries, subpoenas, or requests provided they are fully supported and documented by the law in the relevant jurisdictions.
To the fullest extent permitted by applicable law, you will indemnify, defend and hold harmless the ETR team from and against all claims, demands, actions, damages, losses, costs and expenses (including attorneys’ fees) that arise from or relate to: (i) your purchase or use of ETR; (ii) your responsibilities or obligations under these Terms; (iii) your violation of these Terms; or (iv) your violation of any rights of any other person or entity.
The Company reserves the right to exercise sole control over the defence, at your expense, of any claim subject to indemnification under this Section 18. This indemnity is in addition to, and not in lieu of, another indemnities set forth in a written agreement between you and the Company.
You are responsible for implementing reasonable measures for securing the wallet, vault or other storage mechanism you use to receive and hold ETR purchased from the Company, including any requisite private key(s) or other credentials necessary to access such storage mechanism(s). If your private key(s)or other access credentials are lost, you may lose access to your Tokens. The Company is not responsible for any losses, costs or expenses relating to lost access credentials.
Currently, only English versions of any ETR's communications is considered official. The English version shall prevail in case of differences in translation.
The Terms and all non-contractual obligations arising in any way whatsoever out of or in connection with these Terms are governed by, construed, and take effect in accordance with Brazilian law.
By purchasing, owning, and using ETR, you expressly acknowledge and assume the following risks:
1. Risk of Losing Access to ETR 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 ETR stored in your digital wallet or vault. Accordingly, loss of requisite private key(s) associated with your digital wallet orvault storing ETR will result in loss of such ETR. Moreover, any third party that gains access to such privatekey(s), including by gaining access to login credentials of a hosted wallet service you use, may be able to misappropriate your ETR. Any errors or malfunctions caused by or otherwise related to the digital walletor vault you choose to receive and store ETR in, including your own failure to properly maintain or use such digital wallet or vault, may also result in the loss of your ETR. Additionally, your failure to follow precisely the procedures set forth in for buying and receiving Tokens, including, for instance, if you provide the wrong address for the receiving ETR, or provides an address that is not ERC-20 compatible,may result in the loss of your Tokens.
2. Risks Associated with the Ethereum Protocol
Because ETR and the ETR 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 ETR.Moreover, advances in cryptography, or technical advances such as the development of quantum computing, could present risks to the ETR and the platform, including the utility of the ETR 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, ETR are susceptible to attacks by miners in the course of validating ETR 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 ETR, including, but not limited to, accurate execution and recording of transactions involving ETR.4. Risk of Hacking and Security Weaknesses Hackers or other malicious groups or organizations may attempt to interfere with the platform or ETR 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 ETR, including the utility of ETR for obtaining services.
5. Risks Associated with Marketsfor ETR
If secondary trading of Tokens is facilitated by third party exchanges, such exchanges may be relatively new and subject to little or no regulatory oversight, making them more susceptible to fraud or manipulation. Furthermore, to the extent that third-parties do ascribe an external exchange value to ETR(e.g., as denominated in a digital or fiat currency), such value may be extremely volatile.
6. Risk of Uninsured Losses
Unlike bank accounts or accounts at some other financial institutions, ETR are uninsured unless you specifically obtain private insurance to insure them. Thus, in the event of loss or loss of utility value, there is no public insurer or private insurance arranged by Company, to offer recourse to you.
7. Risks Associated with Uncertain Regulations and Enforcement Actions
The regulatory status of ETR and 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, including the ETR platform and ETR. 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 andETR. Regulatory actions could negatively impact the platform and ETR in various ways, including, for purposes of illustration only, through a determination that the purchase, sale and delivery of ETR constitutes unlawful activity or that ETR are a regulated instrument that require registration or licensing of those instruments or some or all of the parties involved in the purchase, sale and delivery thereof. The 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 ETR is uncertain. You must seek your own tax advice in connection with purchasing ETR, which may result in adverse tax consequences to you, including withholding taxes,income taxes and tax reporting requirements.
9. Risk of Competing 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 ETR services.
10. Risks Arising from Lack of Governance Rights
Because ETR confer no governance rights of any kind with respect to the ETR platform or the Company,all decisions involving the Company’s products or services within the platform or the Company itself will be made by the Company at its sole discretion. These decisions could adversely affect the platform and the utility of any ETR you own, including their utility for obtaining services.
11. Unanticipated Risks
Cryptographic tokens such as ETR are a new and untested technology. In addition to the risks included in this Annex A of these Terms, there are other risks associated with your purchase, possession and use of ETR, including unanticipated risks. Such risks may further materialize as unanticipated variations or combinations of the risks discussed in this Annex A of these Terms.
12. Risk regarding security regulations
There is a risk that in some jurisdictions the Token might be recognized as a Security, or it might be recognized as a Security in the future. The Token Provider does not give a guarantee or warranty that Tokens are not a Security in all jurisdictions. The Token Provider cannot and do not guarantee or warrant that the Tokens will not be recognized as a Security in Brazil. Therefore, the Token Provider appeals to each Backer to check the legislation.
13. Risk of security weakness in the Tokens’ source code
There is a risk of unintended security weakness in the Tokens source code that might result in a loss of Tokens.
14. Risk of non-completions of the Electric Token Platform
There is a risk, even though the Token Provider estimates it as very low, that the ETR Platform will not be completed or deployed.
15. Risk of Slow Ethereum Network
16. Risk of misleading published information
The Backer recognizes that there is a risk of publishing of misleading or incorrect information regarding the Platform, the Token Provider crowd sale, the Token Provider and/or the Token. The Backer bears all responsibility for any damages occurred as a result of adhering to such information. Additionally, theBacker recognizes there is a risk of negative effect on the market value of the Token as a result of negative public opinion regarding the Token Provider or its platform.
17. Risk of internal conflict
The Backer recognizes and accepts the risk of internal conflict within the Token Provider which can cause malfunctions, interruptions or even cancellation of the whole project.
18. Risk of loss of value
Since the value of the Tokens will be determined in the future by demand and supply, the value of theTokens might fluctuate enormously or even drop to zero.
19. Risks Associated with the public promotion of the affiliate marketing and Ambassador program organizational scheme.
To Anyone who publishes on their social networks (facebook or other) their referral links and / or invitations to, and / or propose the vision of Electric Token with the aim of affiliate new people to the community through the use of the word “INVESTMENT” and “COMMISSION”, access to the BO area will be suspended for 60 days. Instead of the word investment could be used “CONTRIBUTION” and instead commission could be used “Affiliate payment reward” We remind all members that Electric Token is not an investment company. If the conduct of the member, in violation of the above, should persist, the company will cancel the account and any tokens in place on it will be returned to the extent of the number and value of the initial tokens. We remind everyone that being a member of Electric Tokencommunity means contributing to the development, growth of the business of ETR company and the ETR platform.
The Backer recognizes and accepts the risk of non-payment of the payment reward from the TokenProvider.
The backer recognizes that accepting all the ETR risks could also consequently shut down the backoffice– ambassador program.
20. Risk of low or no liquidity
The Token exchange market price may experience extreme volatility. Cryptographic tokens or cryptocurrencies have demonstrated extreme fluctuations in price over short periods of time on a regular basis.You must be prepared to accept similar fluctuations in the CPNT token exchange value. Such fluctuations are due to the market forces and represent changes in the balance of supply and demand. The TokenProvider cannot and does not guarantee any market liquidity for the CPNT. Additionally, due to the different regulatory requirements in different jurisdictions, the liquidity of the Token may be markedly different in different jurisdictions.The Backer is fully aware of the risks that the Token might not be redeemable and bears all consequences,including any damages, that might occur due to the illiquidity of the Token. The Token exchange market is subject to high levels of market speculations that has the ability to affect the liquidity of the Token. TheBacker fully recognizes that risks.
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