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An investment in, and acceptance of any digital currency involves risks. These risks may include, among others, market risk, liquidity risk, market volatility and economic, political and regulatory risks and any combination of these and other risks.
DOOR Tokens (the “Tokens”) are a payment token and are being used as a currency on the DOOR Platform. They have been issued by DOORToken.org (the “Issuer”), a company incorporated under the laws of the United States. The Tokens do not represent any claim for repayment of a monetary sum against the Issuer, nor have persons holding Tokens (“Advertisers”) any claim against the Issuer for payment of interests or for sharing of profits generated by the Issuer. A total loss of the value of DOOR Tokens or any investment due to various causes cannot be excluded.
DOOR is not an investment product and any action, notice, communication, message, decision, managerial act, or omission of the mentioned, is not an investment advice and shall not be understood and interpreted as such. Any such content shall be regarded solely as statement of facts or observation and in no case as investment advice. DOOR is not a security. DoorToken.org gives no guarantees as to the value of any of DOOR and explicitly warns users that there is no reason to believe that DOOR will increase in value, and they might also decrease in value or lose their value entirely.
If you choose to acquire DOOR through the DOOR platform, you will be bound by the Terms and Conditions set forth by DOOR. You agree and accept, that you are acquiring DOOR for your own personal use as technical means to license data and not for investment or financial purposes. You also agree that you do not consider DOOR as security and you understand that DOOR may lose all their value and that you are not acquiring DOOR as an investment.
An acquisition of Tokens is suitable only for experienced persons who are in a position to evaluate the risks, including the risks related to the underlying technology, and who have sufficient resources to be able to bear any losses, including a complete loss, which may result from such acquisition. Before subscribing to or otherwise acquiring any Tokens, prospective buyers should specifically ensure that they understand the structure of, and the risk inherent to, the Tokens.
Prior to the acquisition of DOOR Token, persons should independently assess any possible risks, seek advice with respect to the economic, legal, regulatory and tax implications of the purchase of DOOR Token and should consult with his/her own investment, legal, tax, accounting or other advisors to determine the potential benefits, burdens, risks and other consequences of a purchase of DOOR Token.
Prospective Advertisers are required to study the white paper, the website, the FAQ’s and all other available information sources, and are encouraged to clarify all their questions prior to the acquisition of Tokens.
2. DOOR TOKEN INFORMATION
DOOR is a payment token that enables its holders to purchase data which is available on the DOOR Platform. DOOR Token is not a security, it is used solely for licensing data.
3. RISK FACTORS RELATING TO THE ISSUER
The Issuer is a newly incorporated company, and there is no historical financial data or key figures to assess the financial situation of the Issuer with regard to previous years. Negative developments such as the destruction of assets or an economic downturn could negatively affect the Issuer’s liquidity and/or solvency.
The Issuer’s success depends to a large extent on the continued involvement of key personnel. Such key personnel are either employed by the Issuer or made available through an agreement with its sole shareholder DOORToken.org.
Existing laws, regulations and financial oversight practice relevant to DOOR and the DOOR Token are subject to political debate and legislative changes in all jurisdictions where Tokens are offered for subscription. Changes in applicable laws and regulations may be implemented and enter into force without warning and with immediate or even retrospective effect leading to impacts on the Issuer’s operational results, the value of the investments made, the ability to offer, distribute and trade the Tokens. In very severe circumstances, jurisdictions may enforce a closing of the platform and the Issuer respectively. This could lead to losses incurred by the Advertisers.
Advertisers are strictly reminded to observe legal and regulatory developments at all times and to consider their own position vis-à-vis those requirements. The Issuer has institutionalized internal processes to ensure compliance with the laws and regulations of the United States. If, despite these precautions, breaches of statutory or regulatory provisions occur, this could adversely affect the Issuer’s business activities and/or the price of the Tokens. Furthermore, changes to data protection laws or regulations may force the Issuer to disclose any kind of additional information to authorities in the future.
4. RISK FACTORS RELATING TO THE TOKEN
Prior to the listing of tokens at a cryptocurrency exchange or trading platform no liquid market for Tokens will exist. Markets for crypto assets are not mature nor fully developed markets with sufficient liquidity and volume to provide stable prices, leading to high bid/ask spreads, very high volatility and vulnerability to price manipulation of large players in the market. The price at which Tokens will be traded will depend upon a number of factors, most of which are beyond the Issuer’s control. In addition, cryptocurrency markets in general are subject to significant price and volume fluctuations.
A number of legal questions, qualifications and categorizations concerning Tokens and related new fields of technology (such as Blockchain) and investments using such tools and providing rights through Tokens are still in relatively early states of scholarship discussions and not finally decided and harmonized throughout jurisdictions. These conditions may lead a court to the conclusion that the transfer of Tokens is ineffective, void, or voidable. Jurisdictions may restrict trading of or investing in Tokens, for instance by imposing economic sanctions or currency restrictions.
The tax characterization of tokens is under development in different jurisdictions and may vary even within jurisdiction. Advertisers must seek their own tax advice in the relevant jurisdictions in connection with acquiring tokens, which may result in adverse tax consequences, including withholding taxes, income taxes and tax reporting requirements.
All transactions on the Ethereum blockchain are irrevocable and final as soon as the committed transactions have been signed and exchanged. Erroneous token transactions may not be recoverable and lead to loss of Tokens. The Token Holder bears the entire responsibility regarding the correct execution of token transactions.
The Issuer will undertake best efforts to have the DOOR Token listed at a cryptocurrency exchange or trading platform, but cannot guarantee if and when such listing will take place. Until a listing has been completed, Advertisers can dispose of tokens only by way of selling them on a bilateral basis. There is no guarantee that buyers for Tokens will be available, or that they will be willing to pay the price paid by the Token Holder at the time of the acquisition of the Token.
Additionally, Tokens may be lost or become inaccessible, in particular if the Token Holder loses the respective passwords, pincodes and/or private keys to dispose of its Tokens, or due to malfunctioning of the e-wallet in which the Tokens are stored. The Token Holder bears the entire responsibility regarding the secure storage of passwords, pincodes and private keys (necessary to access and use the DOOR Token).
5. RISK FACTORS RELATING TO THE TECHNOLOGY
Underlying software applications and software platforms (including the Ethereum blockchain) are still in an early development stage and unproven. Therefore, an inherent risk that the software could contain weaknesses, vulnerabilities or bugs causing, inter alia, partial or the complete loss of Tokens exists.
As with other tokens based on the Ethereum blockchain, the DOOR Tokens are susceptible to attacks by miners during validating token transactions on the Ethereum blockchain, including, but not limited, to double-spend attacks, majority mining power attacks, and selfish-mining attacks. Hackers or other malicious groups or organizations may attempt to interfere with the DOOR platform or DOOR Token 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 successful attacks present a risk to the DOOR platform and the DOOR Token, including, but not limited to accurate execution and recording of transactions involving the token.
Direct or indirect damage may be incurred by the Token Holder in connection with transmission errors, transmission cutouts, technical defects, overload, service interruptions (e.g. systems maintenance), disruptions, interference, illegal intervention (e.g. hacking) and willful blockage of telecommunication devices and networks (e.g. “mail bombing”, attacks intended to cripple services, etc.) or in connection with other malfunctions or deficiencies on the part of telecommunication and network operators.
In using the DOOR Platform, data is transmitted over open, generally public networks (e.g. the Internet). Data is regularly transmitted in an unsupervised manner across borders, even if the sender and the recipient are both located in the same place. Even where the data itself is encrypted, the sender and recipient can sometimes remain unencrypted, such that third parties may be able to infer their identity. DOOR accepts no liability and gives no guarantee that data transmitted and published via the Internet are correct, accurate and complete. In particular, account-related data (transaction confirmations, account statements, account balances, etc.) and information in the public domain, e.g. exchange prices or exchange rates, shall not be binding.
6. EXCLUSION OF LIABILITY
The Issuer is not liable, not even in the case of negligence, for damage or consequential damage arising from or in connection with access to or use of the DOOR Platform or the impossibility of access or use. Furthermore, the Issuer excludes any liability to the extent permitted by law in connection with the purchase, holding, sale or other disposal of DOOR Tokens.
7. NO BASIS FOR DECISION, NO ADVICE
Sales documents or agreements for the purchase of Tokens from the Issuer and this document are not intended to provide investment advice or any other form of decision-making and do not constitute financial, legal, tax and/or other advice. These documents do not replace the qualified advice required prior to any purchase decision, in particular with regard to all associated risks. No investment or other decisions should be made based on these documents.
8. QUESTIONS AND CONTACT INFORMATION
Please check the White Paper and the FAQ on our website before contacting our support. If you have general inquiries or comments about this Legal Disclaimer and Risk Disclosure, please contact us using the information below: