Possible Risks in Ada Exchange
Possible Risks in Ada Exchange
This risk agreement(hereinafter called the `risk agreement`),made by and between you and Attain Corporation (hereinafter called “we”, “our” or “us”) organized and existing under the laws of Japan, with its principal place of business in Osaka, Japan.
Warning: ADA exchange may involve many risks.
Risks considered to be involved in ADA exchange are described below. Also, there may be risks unpredicted by Attain Corporation or unconfirmed at this point present. These risks are referred to `the potential risks`. We highly recommend you to carefully consider the potential risks before purchasing ADA and consult experts such as lawyers, licensed tax accountants and certified public accountants etc, if necessary. Please refrain from purchasing ADA if there is a risk that you find unacceptable. You will fully acknowledge the potential risks involved in ADA and purchase on your own responsibility. After reading risk agreement, and ordering ADA, you signify your irrevocable acceptance of all possible risks. We will not be liable for any losses, damages, claims and/or actions of any kind arising from ADA purchase.
Risk Due to that CARDANO is a Developing Project
ADA (hereinafter simply referred to as ADA) is Cryptocurrency that functions as the key currency of CARDANO, a decentralized-processing P2P platform, scheduled to be released in the first quarter of 2017. . However, there is a possibility that the release of CARDANO will be delayed or cancelled depending on the development status, etc. There is also a possibility that the service of released CARDANO will be suspended by any unpredictable events. In this event, the value of ADA may plummet or drop to zero. We will not be liable for any refunds, cancellation, indemnities and others pertaining to this. Please conduct ADA exchange only if you fully understand these possibilities.
Fluctuation Risk at the Time of Purchase
The exchange amount of ADA will be calculated based on USD and then converted to Bitcoin during the presale (the following definitions*) which involves a risk of fluctuation in an exchange rate. However, since a time lag occurs when we exchange your paid amount into ADA, the USD and Bitcoin exchange rates may fluctuate.
You may confirm the details of exchange risks from here: http://attaincorp.co.jp/change/
*The presale period can be viewed from here: http://attaincorp.co.jp/change/sale.html
Although we exclusively sell ADA during the presale period, we will not be involved in ADA issuance after the release of CARDANO, ADA exchange with other cryptocurrencies or actual currencies. We will not be able to predict the distribution of ADA after the release of CARDANO or guarantee this in any manner. Also, there is a possibility that ADA transactions will be disabled or hindered or you will be forced to transact at a considerably unfavorable price depending on the situation such as a market trend or a transaction amount even after the distribution of ADA started. We will not guarantee liquidity in the ADA market.
Value Fluctuation Risk
After the distribution of ADA started, the value of ADA will be expected to fluctuate on a daily basis depending on the situation such as a market trend or a transaction amount (we will not be involved in the distribution or predict this as mentioned above). Although the scheduled total issue amount of ADA is 63 billion ADA at this point, there is a possibility that an issuer will change the total issue amount in the future. Due to a variety of factors including this, a sudden fluctuation and a sharp drop may be expected in the value of ADA you hold. Please note that there is also a possibility that the value of ADA will drop to zero.
ADA Network Risk
In ADA transactions (transaction verification on Blockchain), your request will be put on hold for a certain period of time until the transaction process is fully confirmed. A transaction will be reflected in your account balance after the transaction is fully confirmed by the ADA network and us. Also, your transaction may be canceled by Consensun Algorithm of Blockchain if there is any error in it.
Risk Involved in Password Loss
If you lost a password required to log in to your ADA account, a private key or others, there is a possibility that you will not be able to access your account or a third party will abuse it.
Please manage and keep your password and other personal information secure on your own responsibility. We will not be liable for any losses, damages, claims and/or actions of any kind either directly or indirectly related to or arising from password loss, unauthorized use by a third party, hacking, etc.
In the event that system failure occurred due to changes in external environments, etc, a risk may be involved in your transaction. Also, there is a possibility that you will miss an opportunity to order ADA by interruption such as our regular or emergency maintenance or system failure. If this happens, we will not reimburse for any damages including profit loss (i.e. a profit which you may have received if your order properly proceeded). There is also a possibility that the value of ADA pertaining to your transaction will show an unexpected value by system failure. In the event that a closed transaction at an unexpected value is detected, we may cancel such transaction on our discretion.
The risk agreement will be governed by and construed in accordance with the laws of Japan.
In the event that we will not be able to continue our business due to changes in external environments and others, bankruptcy procedures will be conducted following the Insolvency Law of Japan, the Corporation Law of Japan, the Corporate Reorganization Acts of Japan, the Civil Rehabilitation Law of Japan, etc.
Risk of Change in Law and Taxation System
At the moment, no law or regulation regarding Cryptocurrency including ADA has been implemented in Japan yet. A tax regulation regarding Cryptocurrency including ADA hasn’t been implemented either so there is a possibility that profits or capital gains by ADA transaction will become taxable. We will not be liable for your tax declaration. For the regulations and the tax system regarding ADA transaction, we recommend you to consult experts such as lawyers, licensed tax accountants and certified public accountants on your own responsibility and at your own expense.
The parties hereby consent to and confer exclusive jurisdiction upon Tokyo District Court over any disputes arising out of or relating to the risk agreement.
Issued on August 24th, 2015
Updated on November 22nd, 2016