Terms and Conditions
Legal Disclaimer
The investor is advised to consult his / her legal and financial advisors before considering to participate in the OkToken ICO as set out in this whitepaper.
This document has been published by RHCO and has been drafted to assist a potential investor / purchaser of OkToken tokens with providing the correct information about our endeavor. We strongly advise that only after studying the whitepaper thoroughly and conducting his / her own research should the investor participate in the OkToken ICO.
We would like to make it clear that this document is a business whitepaper, in which we have set out our future goals. This paper is for information purpose only and the proposals that have been mentioned in the document are not currently in deployment. We make no warranties or representations as to the successful implementation of the technologies and innovations as mentioned in the paper. Furthermore, the implementation of the proposals in this document is subject to the laws and regulations of the jurisdiction in which such a business model will be active.
OkToken and its management or employees completely exempt themselves from bearing any liability for the loss or damage of any kind (whether foreseeable or not) which may be incurred by the purchaser or an employee of the purchaser of the OkToken tokens. The information put into the whitepaper has been derived from sources, which we believe are reliable. However, we take no responsibility regarding the accuracy of the information and the authenticity of the sources thereof. The investor is advised to not rely upon the information without any due diligence.
We are under no obligation to modify, rectify and update the whitepaper. Neither are we liable to inform the investor if we do make any changes in the document. Investors are advised to apply a healthy level of skepticism regarding the information put out by us at the time of investing or buying OkToken tokens.
Any projection or forecasts mentioned in this paper may not be achieved due to risk factors, technological shortcomings, legal impediments or market volatility. The company shall apply discretion if there is any indication that implementing any of the proposals mentioned in the document runs the risk of being against the company's interests. In such a case, the company and its employees have no liability to inform the purchasers of the tokens to notify them of the changes beforehand or anytime in the future after such a decision has been taken. Investors are advised to do their due diligence and any loss or inconvenience suffered by the investor will not be a valid cause to seek compensation of any kind from the company or any of its employees.
This whitepaper is not allowed to be replicated, modified or distributed by any organization, entity or individual other than RHCO. Any attempt to use this paper for malicious intentions, such as fraud, will be met with strict legal action. Furthermore, if any organization or individual uses this document to make false claims, the company shall take legal recourse against such person(s). If any organization or individual, using this document or the proposals therein, makes a profit, the company may lay a claim to the profit or a settlement of a monetary nature in lieu of initiating legal action.
If any buyer / investor does not comply with our KYC policy, then he / she will not be issued OkToken tokens. If it comes to our notice that an investor has forged his / her identity during the KYC stage to acquire OkToken tokens, then the company reserves the right to initiate legal action against such a person(s).
Any investor intending to participate in the OkToken ICO or a holder of such, shall be subjected to the aforementioned rules, regulations and penalties (if any).
Risk Disclaimer
Unanticipated Risk
Blockchain technologies and cryptographic Tokens such as the Tokens are a relatively new and dynamic technology. In addition to the risks included above, there are other risks associated with your purchase, holding and use of the Tokens, including those that the Company cannot anticipate. Such risks may further appear as unanticipated variations or combinations of the risks discussed above.
Legal and Governmental Risks
Uncertain Regulatory Framework.
The regulatory status of cryptographic Tokens, digital assets and Blockchain technology is unclear or unsettled in most jurisdictions. It is difficult to predict how or whether governmental authorities will regulate such technologies. It is likewise difficult to predict how or whether any governmental authority may make changes to existing laws, regulations and / or rules that will affect cryptographic Tokens, digital assets, Blockchain technology and its applications. Such changes may negatively impact the Tokens in various ways, including, for example, through a determination that the Tokens are regulated financial instruments that require registration. Company may cease the distribution of the Tokens, the development of the Platform or cease operations in a jurisdiction in the event that governmental actions make it unlawful or commercially undesirable to continue to do so.
Failure to obtain, Maintain or Renew Licenses and Permits
Although as of the date of starting the Token sale there are no statutory requirements obliging the Company to receive any licenses and/or permits necessary for carrying out its activity, there is the risk that such statutory requirements may be adopted in the future and may relate to any of the Company's corporate entities. In this case, corporate entities' business will depend on the continuing validity of such licenses and permits and its compliance with their terms. Requirements which may by imposed by authorities and which may require any of the company's parties to comply with numerous standards, recruit qualified personnel, maintain necessary technical equipment and quality control systems, monitor operations, maintain appropriate filings and, upon request, submit appropriate information to the licensing authorities, may be costly can be time-consuming and may therefore result in delays in the commencement or continuation of operation of the Platform. Accordingly, potential licenses that any of the company's parties may require, may not be issued or renewed, or if issued or renewed, may not be issued or renewed in a timely fashion, or may involve requirements which restrict any company party's ability to conduct its operations or to do so profitably
Risk of Government Action
The industry in which corporate entities operate is new, and may be subject to heightened oversight and scrutiny, including investigations or enforcement actions. There can be no assurance that governmental authorities will not examine the operations of corporate entities and / or pursue enforcement actions against them. All of this may subject corporate entities to judgments, settlements, fines or penalties, or cause corporate entities to restructure their operations and activities or to cease offering certain products or services, all of which could harm corporate entities' reputation or lead to higher operational costs, which may in turn have a material adverse effect on the Tokens and/or the development of the Platform.
Risk of Burdensomeness of Applicable Laws, Regulations and Standards
Failure to comply with existing laws and regulations or the findings of government inspections, or increased governmental regulation of corporate entities operations, could result in substantial additional compliance costs or various sanctions, which could materially adversely affect.
Unlawful or Arbitrary Government Action
Governmental authorities may have a high degree of discretion and, at times, act selectively or arbitrarily, without hearing or prior notice, and sometimes in a manner that is contrary a law or influenced by political or commercial considerations. Moreover, the government also has the power in certain circumstances, by regulation or government act, to interfere with the performance of, nullify or terminate contracts. Federal and local government entities have also used common defects in matters surrounding the Token sale as pretexts for court claims and other demands to invalidate or to void any related transaction, often for political purposes. In this environment, corporate entities' competitors may receive preferential treatment from the government, potentially giving them a competitive advantage over corporate entities
Risks connected to the value of Tokens
No Rights, Functionality or Features Other than Strictly Provided Herein
The Tokens do not have any rights, uses, purpose, attributes, functionalities or features, express or implied, including, without limitation, any uses, purpose, attributes, functionalities or features on the platform, other than those strictly provided in the White Paper.
Risks Relating to Highly Speculative Traded Price.
The valuation of digital Tokens in a secondary market is usually not transparent, and highly speculative. The Tokens do not hold any ownership rights to Company's assets and therefore, are not backed by any tangible asset. Traded price of the Tokens can fluctuate greatly within a short period of time. There is a high risk that a Token holder could lose his / her entire contribution amount. In worst-case scenario, the Tokens could be rendered worthless.
Tokens are Non-Refundable.
Except for the cases strictly provided by the applicable legislation or in the legally binding documentation on the Tokens sale, corporate entities are not obliged to provide the Token holders with a refund related to the Tokens for any reason, and the Token holders will not receive money or other compensation. No promises of future performance or price are or will be made in respect to the Tokens, including no promise of inherent value, no promise of continuing payments, and no guarantee that the Tokens will hold any particular value unless otherwise disclosed in the White Paper. Therefore, the recovery of spent resources may be impossible or may be subject to foreign laws or regulations, which may not be the same as the private law of the Token holder.
Risks of Negative Publicity.
Negative publicity involving the Company, the platform, the Tokens or any of the Company's Parties may materially and adversely affect the market perception or market price of the Tokens, whether or not it is justified.
Blockchain and Software Risks
Blockchain Delay Risk.
On the most Blockchains used for cryptocurrencies' transactions (e.g., Bitcoin Blockchains, Ripple, Ethereum), timing of block production is determined by proof of work so block production can occur at random times. For example, the cryptocurrency sent as a payment for the Tokens in the final seconds of the Token sale may not get included into that period. The respective Blockchain may not include the purchaser's transaction at the time the purchaser expects and the payment for the Tokens may reach the intended wallet address not in the same day the purchaser sends the cryptocurrency.
Risk of Software Weaknesses.
The Token smart contract concept, the underlying software application and software platform are still in an early development stage and unproven. There are no representations and warranties that the process for creating the Tokens will be uninterrupted or error-free. There is an inherent risk that the software could contain weaknesses, vulnerabilities or bugs causing, inter alia, the complete loss of the cryptocurrency and/or the Tokens.
Security Risks
Lack of Token Security.
The Tokens may be subject to expropriation and or/theft. Hackers or other malicious groups or organizations may attempt to interfere with the Token smart contract which creates the Tokens. In the event of such a software bug or weakness, there may be no remedy and holders of the Tokens are not guaranteed any remedy, refund or compensation.
Attacks on Token Smart Contract
The Blockchain used for the Token smart contract which creates the Tokens is susceptible to mining attacks, including double-spend attacks, majority mining power attacks, "selfish-mining' attacks, and race condition attacks. Any successful attacks present a risk to the Token smart contract, expected proper execution and sequencing of the Token transactions, and expected proper execution and sequencing of contract computations.
Risk of an Unfavorable Fluctuation of Cryptocurrency Value
The proceeds of the sale of the Tokens will be denominated in cryptocurrency and may be converted into other cryptographic and fiat currencies. If the value of cryptocurrencies fluctuates unfavorably during or after the Token sale, the project management team may not be able to fund development or may not be able to develop or maintain the Platform in the manner that it intended.
Risk of Dissolution of Company.
It is possible that, due to any number of reasons, including, but not limited to, an unfavorable fluctuation in the value of Ethereum, Bitcoin or other cryptographic and fiat currencies, decrease in the Tokens utility due to negative adoption of the Platform, the failure of commercial relationships, or intellectual property ownership challenges, the Platform may no longer be viable to operate, and the Company may dissolve.