The following is a non-exhaustive disclosure of principal risk factors which are material by the Company in connection with the Private Placement Event, and the acquisition, holding and/or use of OCEANIC (OCN) token as well, to the extent rendered application, the use of the DEBUK Platform at any moment in time. Participants should consider these risk factors alongside all other information provided in the white paper and are advised to consult with their own professional advisers (including their financial, accounting, legal, taxative, technical or other advisers and experts) before deciding to obtain OCN token. In addition, participants should be aware that the risks described herein may combine and thus intensify one another.
The acquisition of OCN token from the Company is only suitable for financially sophisticated persons who can evaluate the merits and risks of such an acquisition, or other persons who have been professionally advised with regard to token acquisition and who have sufficient financial resources to be able to bear any losses that may arise therefrom (which may be equal to the whole amount spent in connection with the token acquisition). Such an acquisition should not be seen as an investment or a financial asset.
A Wallet is necessary to acquire, hold and dispose of OCN token. The Participant hereby understands that he/she is responsible for setting up the Wallet with a third-party provider to hold OCN token and he/she is responsible for implementing reasonable measures for securing the Wallet. Any error or negligence in maintaining the security of the third-party wallet will result in unrecoverable loss. Additionally, the participant’s failure to follow precisely the procedures set forth in the terms for acquiring and receiving OCN token, including but not limited to the provision of the wrong Wallet address for receiving OCN token may also result in the loss of his/her OCN tokens.
As with other decentralized cryptographic tokens based on the Binance Smart Chain protocol, OCN token are susceptible to attacks by miners while validating OCN token transactions on the Binance Smart Chain, including but not limited to double-spend attacks, majority mining power attacks, and selfish-mining attacks. Any successful attacks present a risk to the DEBUK Platform and/or OCN token, including but not limited to accurate execution and recording of transactions involving OCN token.
There is a risk that the Smart Contract, Website, the DEBUK Platform and OCN token may unintentionally include weaknesses or bugs in the source code interfering with the use of or causing the loss of OCN token; the source code of the Website is open and could be updated, amended, altered or modified from time to time. The Company is unable to foresee or guarantee the precise result of an update, amendment, alteration or modification. As a result, any update, amendment, alteration or modification could lead to an unexpected or unintended outcome that adversely affects OCN token and/or the website. As a result, OCN token may be lost.
OCN token are intended to be used solely for the DEBUK Platform and the Company will expect to facilitate secondary trading on other exchanges. If required, DEBUK will try to identify required crypto currency exchange to facilitate liquidity for OCN token and Holders but there are no warranties and/or guarantees that DEBUK will be made available for exchange with other cryptographic tokens and/or fiat money, and no guarantees are given whatsoever regarding the capacity and/or volume of such exchange/s.
The regulatory status of tokens in general, Initial Token or Coin Offerings, Private Placement Event and distributed ledger technology is unclear or unsettled in many jurisdictions. It is difficult to predict how or whether regulatory authorities may apply existing regulation with respect to such technology and its applications, including the DEBUK Platform and the OCN token. It is likewise difficult to predict how or whether legislatures or regulatory agencies may implement regulatory actions or changes to law and regulation affecting distributed ledger technology and its applications, including the DEBUK Platform and the tokens.
Regulatory actions or changes to law and regulation could negatively impact OCN token and the DEBUK Platform in various ways, including but not limited to a determination that the acquisition, holding and use or disposal and transfer of OCN token constitutes a regulated instrument that requires registration or licensing of those instruments or some or all of the parties involved in the acquisition, contribution, sale and delivery thereof. The Company may cease operations or interrupt the Private Placement Event/Public Token Offering 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 or no longer viable to obtain the necessary regulatory approval/s to operate in such jurisdiction or to provide the DEBUK Platform.
It is possible that OCN token and the DEBUK Platform will no longer be used by a large number of individuals, companies and other entities or that there will be limited interest in the use of OCN and the DEBUK Platform. Such a lack of use or interest could negatively impact the development of the DEBUK Platform and therefore the potential utility of OCN token.
It is possible that due to any number of reasons, including but not limited to a decrease in OCN’s utility, the failure of commercial relationships, or intellectual property ownership challenges, unfavorable market conditions and added compliance and regulatory obligations, the use of the DEBUK Platform may no longer be viable to be offered or the Company may need to cease trading and be dissolved and liquidated.
The Participant understands and accepts the inherent risks associated with OCN token, to the extent not covered elsewhere in the Terms, including but not limited to risks associated with (a) money laundering; (b) fraud; (c) exploitation for illegal purposes; and (d) any other unanticipated risks. Cryptographic tokens such as OCN token as well as blockchain are a new and untested technology. In addition to the risks included in the DEBUK Documents, there are other risks associated with the Participant’s acquisition, holding and use of OCN token, including some that the Company cannot or may not anticipate. Such risks may further materialize as unanticipated variations or combinations of the risks discussed in the DEBUK Documents.
The Participant hereby represents and warrants that he/she will take sole responsibility for any restrictions and risks associated with the holding or use of OCN token. If any of the risks, mentioned in the Terms are unacceptable or the Participant is not in the position to understand, the Participant should not acquire, hold or use OCN token. If the person/participant holds any OCN token, it is understood that all the terms and conditions mentioned in DEBUK documents are and were duly understood and accepted.