API3 Token Disclaimer
Last updated: September 26, 2020.
To any and all prospective holders, purchasers, assignees, or transferees (“You” or “Your”, as applicable) of the API3 Ethereum tokens (“API3 Tokens”), by your participation in the relevant token distribution and interaction with the materials herein and with the API3 Tokens themselves, You acknowledge Your understanding and agreement with the disclaimers herein:
API3 tokens permit governing, directing, and participating in the API3 Decentralized Autonomous Organization (“API3 DAO”), and are not to be treated as investments of any nature. The API3 Token confers only membership in the API3 DAO and do not impart or guarantee any economic benefits or returns of any kind to its holders, and staking the API3 Token may involve different risks of loss of the API3 Token, including but not limited to the data feed insurance incentives and penalties (more thoroughly described at api3.org). The operation, maintenance and overall success of the API3 DAO and protocol depends on the efforts of a disparate group of actors constituting the API3 DAO and sub-DAOs therein, and as such the products and services described herein involve substantial risk. Materials published by the API3 DAO, API3 Limited Company (the “API3 Company”), The API3 Foundation Limited Company (the “API3 Foundation”), or any affiliate or related entity to the foregoing (collectively, “API3”) do not constitute the provision of advisory services regarding investment, tax, legal, financial, accounting, consulting or any other related services, nor are they a recommendation to purchase any token, product or service. All materials published by API3 reflect the information available as of the time of publishing, are subject to change at any time without notice, and shall in no circumstance incur any liability for any direct or consequential loss arising out of the use of any API3 materials or communications.
You represent and warrant You are not: (i) in violation of any laws relating to economic sanctions, anti-money laundering, or anti-corruption; (ii) restricted or prohibited in dealings by a global sanctions authority (including but not limited to the Security Council of the United Nations, the European Union, or the U.S. Office of Foreign Assets and Control) (a "Sanctions Authority"), (iii) a citizen of or domiciled in (at any time) a country sanctioned by a Sanctions Authority including, but not limited to, Cuba, Iran, Syria, North Korea, and the Crimea region of Ukraine; and (iv) a citizen of or domiciled in any of the following jurisdictions for the API3 Token distribution: the United States (including its territories and dependencies, any state of the United States and the District of Columbia), Afghanistan, Ethiopia, Guyana, Iraq, Sudan, or Yemen.
API3 has undertaken commercially reasonable screening measures, to the extent possible in a distribution performed by a decentralized exchange and accompanying DAO, to prevent any excluded persons or jurisdictions from participating in the sale, but as an additional measure relies upon Your representation that You are not excluded from participation in accord with the foregoing. Furthermore, API3 expressly disclaims and disavows any secondary transfers, sales, or assignments of the API3 Tokens by You and shall have no liability whatsoever for any such actions, further recipients, or usage of the API3 Tokens.
Purchasing API3 Tokens for membership in the API3 DAO involves a high degree of various risks, including a possible loss of the entire purchase price. API3 DAO’s sector and market is highly competitive, new, and subject to innumerable legal and regulatory uncertainties, including as to the status or classification of the API3 Token itself and its distribution, the status of the API3 DAO and its dealings, and the legal and regulatory treatment of the wider decentralized technology space generally. At any time the API3 Company and/or the API3 Foundation may be compelled to cease operations or take actions that result in its dissolution—while such actions may not affect the continuance of the API3 DAO, they may impact API3 DAO’s and API3’s developments, legal classification, intellectual property status, commercial relationships, and other interactions between the various entities that support the development of API3.
A private key, or a combination of private keys, is necessary to send and otherwise interact with API3 Tokens stored in Your Ethereum wallet. Accordingly, loss of sole control of such private key(s) (including by any third party’s access to such private keys) associated with Your wallet can result in a loss of such API3 Tokens. Further, Your failure to properly follow the procedures for API3 Token distribution, for example providing an incorrect or non-compatible wallet address, may result in the loss of Your API3 Tokens.
The API3 protocol is still under development and may undergo significant changes over time and although API3 intends for the API3 Tokens to function as described in the materials herein and accompanying whitepaper, the API3 DAO is free to alter the course of development or services (including the usage or purpose of API3 Tokens) as it chooses/as deemed advisable by the direction of API3 Token holders. Therefore, API3 Tokens may not meet any specific expectations You may have concerning the API3 Token’s value, utility, or usage.
Malicious actors may attempt to interfere with the token distribution platform or the API3 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, any of the foregoing in manners out of API3’s control. Furthermore, because the API3 protocol and DAO is substantially based on open source software, there is a risk that a third party or an API3 member may intentionally or unintentionally introduce weaknesses into the core infrastructure of the API3 DAO, which could negatively affect the API3 Tokens, including their utility for accessing the API3 DAO or related services.
The legal and regulatory status and classification of API3 Tokens, DAOs, governance tokens generally and blockchain technology generally is unclear or unsettled in many jurisdictions. It is difficult to predict how or whether governments and regulatory agencies may apply existing regulations and law, or enact future regulations or legislation, with respect to such technology and its future applications, including the API3 DAO and the API3 Tokens. Enforcement actions could negatively impact API3 and the API3 Tokens in various ways, including but not limited to (solely for purposes of illustration) through a determination that the offering and distribution/purchase of the API3 Tokens constitutes unlawful activity or that the API3 Tokens represent regulated instruments requiring registration or licensing of those instruments or some or all of the parties involved in the offering and distribution/purchase thereof. API3 may cease to offer its services to people in specific jurisdictions in the event that regulatory actions, or changes to law or regulation make it illegal to operate in such jurisdiction, or commercially undesirable for API3 to obtain the necessary regulatory approval(s) to operate in such jurisdiction.
THIS WEBSITE, THE LINKS AND OTHER MATERIALS PROVIDED HEREIN, AND ANY COMMUNICATIONS RELATED TO ANY OF THE FOREGOING ARE NOT INTENDED TO CONSTITUTE AN OFFER TO SELL, OR SOLICITATION OF AN OFFER TO BUY, ANY SECURITIES. ANY AND ALL ‘SECURITIES’ REFERRED TO HEREIN, SHOULD THEY BE SO DESIGNATED BY A REGULATORY ENTITY WITH JURISDICTION, HAVE NOT BEEN REGISTERED UNDER ANY APPLICABLE SECURITIES LAWS. NEITHER THE CAYMAN ISLANDS MONETARY AUTHORITY NOR THE SECURITIES AND EXCHANGE COMMISSION NOR ANY OTHER SECURITIES COMMISSION OR AGENCY HAS REVIEWED OR CONFIRMED THE ACCURACY OR ADEQUACY OF THE CONTENTS HEREOF.
NOTHING SET FORTH HEREIN IS INTENDED TO BE LEGAL, TAX OR FINANCIAL ADVICE TO ANY ENTITY OR PERSON. NO REPRESENTATION, WARRANTY OR ASSURANCE IS MADE REGARDING THE ACCURACY OF THE INFORMATION CONTAINED HEREIN, AND IT IS NOT INTENDED TO BE RELIED UPON BY ANY PERSON. THE INFORMATION CONTAINED HEREIN MAY NOT REFLECT SUBSEQUENT DEVELOPMENTS.
THE FORWARD-LOOKING STATEMENTS IN THIS WEBSITE OR THE LINKS AND OTHER RELATED MATERIALS ARE SUBJECT TO NUMEROUS ASSUMPTIONS, RISKS AND UNCERTAINTIES WHICH ARE SUBJECT TO CHANGE OVER TIME. THERE ARE MANY RISK FACTORS, INCLUDING THOSE RELATING TO DISTRIBUTED LEDGER AND BLOCKCHAIN TECHNOLOGY GENERALLY, AS WELL ANY OPERATIONS AND RESULTS OF OPERATIONS, THAT COULD CAUSE ACTUAL RESULTS OR DEVELOPMENTS TO NOT BE REALIZED IN WHOLE OR IN PART OR, EVEN IF SUBSTANTIALLY REALIZED, TO FAIL TO ACHIEVE ANY OR ALL OF THE BENEFITS THAT COULD BE EXPECTED THEREFROM. API3 AND ALL RELATED AND/OR INTERESTED ENTITIES RESERVE THE RIGHT TO CHANGE THE PLANS, EXPECTATIONS AND INTENTIONS STATED HEREIN AT ANY TIME AND FOR ANY REASON, IN THEIR RESPECTIVE SOLE AND ABSOLUTE DISCRETION, AND, EXCEPT AS MAY BE OTHERWISE REQUIRED BY APPLICABLE LAW. API3 UNDERTAKES NO OBLIGATION TO UPDATE PUBLICLY OR REVISE ANY FORWARD-LOOKING STATEMENT, WHETHER AS A RESULT OF NEW INFORMATION, FUTURE DEVELOPMENTS OR OTHERWISE. YOU DO NOT RELY ON, AND DO NOT MAKE ANY FINANCIAL DECISION OR INVESTMENT BASED ON, THE STATEMENTS CONTAINED IN THIS WEBSITE, THE LINKS AND OTHER MATERIALS PROVIDED HEREIN, AND ANY RELATED COMMUNICATIONS -- INCLUDING BUT NOT LIMITED TO ANY SELLING OR TRADING OF ANY CRYPTOGRAPHIC OR BLOCKCHAIN TOKEN FOR THE PURPOSES OF GOVERNANCE OR ANY OTHER PURPOSE, OR THE SECURITIES OF ANY COMPANY OR OTHER ORGANIZATION OR GROUP.