Participating in an Token Swap Event is a high-risk activity albeit this Token Swap Event, in particular, is aimed at experienced professionals who are used to blockchain technology, cryptocurrency trading and trading other market instruments such as stocks, derivatives, and forex markets. By participating in this Token Swap Event, the purchaser is aware and accepts the risks related to security, the potential lack of economic results. Finally, the purchaser declares being aware of the legal uncertainty of this type of transaction and to have conducted his own legal guidance according to the applicable law to which he subscribes. Any buyer purchasing PPAY token acknowledges the technological and economic uncertainty of the project presented in this White Paper. Therefore, purchasers are aware of the absence of any legal action against the company in case of failure, nonperformance or no implementation of the project, as well as in the case of the PPAY token losing part or even the totality of its value. Purchase of the PPAY token confers the ability to use the coming PPAYoin.co platform services. No other rights are transferred upon the Token Swap Event.
Precisely, the company’s only obligation is to distribute the PPAY token under the conditions defined in the White Paper. During the Token Swap Event, the company may not be held liable for any of the following:
• Use of the service that are not compliant with the applicable terms;
• An error, malfunction, malicious action or violation of Plasma White Paper’s terms by the user, a third party or a service controlled by a third party;
• All direct or indirect damage that may occur during the operation: cryptocurrency losses, profits or financial losses or other damages whatsoever in the type;
• The loss of control, any reason (loss, hacking, unwanted disclosure or technical failure), of the users’ login credentials which would lead a fraudulent use of the tokens;
• The temporary or permanent suspension of the service, whatever the cause, and especially due to a request from the public authorities, judicial authority or any third party;
• Computer failure resulting in loss of data, including content in case of impact;
• the professional activity of users;
• Lack of compatibility between the service specificity and the customers' requirements;
• Generally, all damage whose cause does not depend on the company: Internet network outage, failure specific to the user’s equipment, etc. Warning about the token According to the Estonian and European regulation, the PPAY token is a cryptographic utility token usable on the Ethereum blockchain and allowing, in the long term, to access the functionalities of the plasmapay.com platform.
The PPAY token is not a security or a financial instrument within the meaning of the Markets in Financial Instruments Directive (MiFID II) of the European Parliament (2014/65/ EU) or within the meaning of the article L211-1 and followings of the Estonian Monetary and Financial Code. Participating in an Token Swap Event is a high-risk activity. This Token Swap Event in particular is only aimed at experienced professionals who are used to blockchain technology, cryptocurrency trading and trading other marketing instruments. By participating in this Token Swap Event, the purchaser is aware and accepts the risks related to security, the potential lack of technical and economic results and the total or partial loss of its capital. Finally, the purchaser declares being aware of the legal uncertainty of this type of transaction and to have conducted his own legal guidance according to the applicable law to which he subscribes. Indeed, the token grants no financial (income, capital or dividend) or voting rights in the company. The token is a crypto-asset issued by plasmapay.com through the Token Swap Event and used by the members of the plasmapay.com platform and community.
Sales restrictions: The participation in the Token Swap Event is strictly reserved for natural or legal persons acting within the scope of their professional activities. Especially, the professional purchaser claims to have a good knowledge of Blockchain technologies and cryptocurrency. Any natural person acting on a nonprofessional basis as a simple consumer within the meaning of EU Directive 2011/83/EU relating to consumer rights is excluded from the Token Swap Event. It is the responsibility of each purchaser to determine its non-professional status and, in doing so, to refrain from participating in any way in the Token Swap Event.
Due to national legislation, participants from the following countries are not allowed to participate in the Token Swap Event: “US person”, Canada, South Korea, Australia, Japan, Singapore and China. This prohibition applies to all types of people (moral, physical, agent, etc.) and to any indirect participation (via a proxy, a name loan, etc.). By participating in the Token Swap Event, the purchaser agrees to the legal disclaimer and, especially, that he respects the above provisions community. Warnings Token Swap Event are high risk operations because of their experimental nature.
By participating in this operation, participants declare to understand and assume the following risks: the lack of regulation: the purchaser agrees not to benefit from any guarantees associated with IPOs on regulated financial markets or other regulated financial investments; capital loss: the purchaser accepts the risk of a total or partial capital loss in cryptocurrency or in the token; volatility or market risk: the value of tokens, just like that of cryptocurrencies in general, can be extremely volatile and subject to significant, and largely unforeseeable fluctuations. Moreover, the market or markets on which these tokens are traded do not offer the same guarantees that are generally applicable to conventional financial markets. Very early project stage Token Swap Event aims to finance an innovative project based on a new technology and whose future evolutions are unpredictable. Therefore, the buyer accepts the risk of non-fulfillment of the project for technical, economic or legal reasons. Ethereum Protocol: the token is developed on the Ethereum protocol which is still at an experimental stage. Therefore, the buyer understands and accepts the risk that an evolution of the protocol renders the token or service unusable.
Security risk: the buyer understands and accepts the risk of losing his total investment due to a security breach. If the company makes every effort to ensure the Token Swap Event safety, the experimental nature of the operation does not exclude the realization of financial or IT damages. It is recommended that the buyer takes all measures to ensure the safety of his tokens and cryptocurrencies.
Legal risk: The Token Swap Event have been structured to comply with the current regulations and good practices applicable. Nevertheless, the governing law of Token Swap Event is under construction around the world. The company cannot be held liable in cases where restrictive regulations, injunctions by regulators, investigation or laws having an impact, in particular, on the issue, management or possession of token were to be adopted. In addition, the rules applicable to cryptocurrencies or tokens are different in each country. This is why buyers are strongly advised to do a legal and tax analysis prior to their participation in the Token Swap Event. Risk of theft and piracy: The company cannot be held responsible for acts of hacking (in infiltration, defacement or DDoS) or computer theft that would affect the funds, the distribution of tokens or the smooth roll of the Token Swap Event. Risk of an error or weakness: The company cannot be held responsible for discovering a weakness in the cryptographic processes implemented in the context of the Token Swap Event. Similarly, the buyer declares to accept and understand the risk of an error in the code of the smart- contract, the trust account (multi-sig wallet) or the software used for the Token Swap Event. However See last Decision of G20 in this matter and FATF Guideline