ANNEX A
CON Risks
By purchasing, owning, and using CON, you expressly acknowledge and assume the following risks:
1. Risk of Losing Access to CON 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 CON stored in your digital wallet or vault. Accordingly, loss of requisite private key(s) associated with your digital wallet or vault storingCON will result in loss of suchCON. Moreover, any third party that gains access to such private key(s), including by gaining access to login credentials of a hosted wallet service you use, may be able to misappropriate yourCON. Any errors or malfunctions caused by or otherwise related to the digital wallet or vault you choose to receive and storeCON in, including your own failure to properly maintain or use such digital wallet or vault, may also result in the loss of yourCON. 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 receivingCON, or provides an address that is not BNB-Bep20 compatible, may result in the loss of your Tokens.
2. Risks Associated with the Binance Protocol
BecauseCON and the Conshiptrack platform are based on the Smart chain protocol, any malfunction, breakdown or abandonment of the BNB protocol may have a material adverse effect on the platform orCON. Moreover, advances in cryptography, or technical advances such as the development of quantum computing, could present risks to the CON and the platform, including the utility of the CON for obtaining services, by rendering ineffective the cryptographic consensus mechanism that underpins the Binance protocol.
3. Risk of Mining Attacks
As with other decentralized cryptographic tokens based on the BNB protocol, CON are susceptible to attacks. Any successful attacks present a risk to the platform and CON, including, but not limited to, accurate execution and recording of transactions involving CON.
4. Risk of Hacking and Security
Hackers or other malicious groups or organizations may attempt to interfere with the platform or CON 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 CON, including the utility of CON for obtaining services.
5. Risks Associated with Markets for Con
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 CON (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, CON 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 CON 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 Conshiptrack platform and CON. 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 CON. Regulatory actions could negatively impact the platform and CON in various ways, including, for purposes of illustration only, through a determination that the purchase, sale and delivery of CON constitutes unlawful activity or that CON 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 CON is uncertain. You must seek your own tax advice in connection with purchasing CON, 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 Conshiptrack services.
10. Risks Arising from Lack of Governance Rights
Because CON confer no governance rights of any kind with respect to the Conshiptrack 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 CON you own, including their utility for obtaining services.
11. Unanticipated Risks
Cryptographic tokens such as CON 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 CON, including unanticipated risks. Such risks may further materialize as unanticipated variations or combinations of the risks discussed in this Annex A of these Terms.
Further Information
For further information regarding the CON, please contact
hi@conshiptrack.com
