RISKS
Last updated
Last updated
The following is a non-exhaustive disclosure of principal risk factors which are considered to be material by the Company in connection with the admission of the token to trading and/or use of the Hopium DeFi Token, as well as, to the extent applicable, the use of the Meet Hopium DeFi platform at any moment in time. Participants should consider these risk factors alongside all other information provided in the Whitepaper and are advised to consult with their professional advisers (including their financial, accounting, legal, tax, technical, or other advisers and experts) before deciding to obtain Hopium DeFi Tokens.
Risk of losing access to Hopium DeFi tokens due to loss of private key/s, custodial error or Participation error:
A wallet is necessary to acquire, hold and dispose of Hopium DeFi tokens. The participant hereby understands that he is responsible for setting up the Wallet with a third-party provider to hold Hopium DeFi Tokens, and he/she is responsible for implementing reasonable measures for securing the wallet.
Accordingly, loss of requisite private key/s associated with the Wallet holding Hopium DeFi Tokens will result in loss of such Hopium DeFi Tokens and any other cryptocurrencies and/or tokens. Moreover, any third party that gains access to such private key/s, including by gaining access to login credentials of the Wallet that the Participant uses, may be able to misappropriate the Participant’s Hopium DeFi Token. Any errors or malfunctions caused by or otherwise related to the Wallet that the Participant chooses to receive and hold Hopium DeFi Tokens, including the Participant’s own failure to properly maintain or use such Wallet or caused as a result of the choice of third party provider for the Wallet, may also result in the loss of Hopium DeFi Tokens.
As with other decentralized cryptographic tokens based on the BEP-20 token standard, Hopium DeFi tokens are susceptible to attacks by miners in the course of validating transactions on the BSC Blockchain, including but not limited to double-spend attacks, majority mining power attacks, and selfish-mining attacks. Any successful attacks present a risk to Hopium DeFi Tokens, including, but not limited to, accurate execution and recording of transactions involving Hopium DeFi Tokens.
Hackers or other groups or organizations may attempt to interfere with Hopium DeFi Tokens in several ways, including, but not limited to, denial-of-service attacks, Sybil attacks, spoofing, smurfing, malware attacks, consensus-based attacks, System Hacking and any such similar events which could have an impact on Hopium DeFi Tokens, the Meet Hopium DeFi Platform and the services the Company may offer from time to time.
Funding will be allocated to review and at university level research symmetric and a-symmetric encryption and decryption of data from any App to the smart chain – one key weakness for totally decentralized system is how address / personal data is stored, as all transaction and data can be followed via blockchain transactions eg passing encrypted data from a desktop app to smart chain would need to be decrypted, but how is the decryption key securely stored and hidden from view if all data on the blockchain is transparent and open via transcription tracing. We will be allocating funding to resolve this issue.
Risk of a security weakness in the Smart Contract, the Website and Hopium DeFi Tokens source code or any associates software and/or infrastructure:
There is a risk that the Smart Contract, the Website, the Meet Hopium DeFi platform and Hopium DeFi tokens may unintentionally include weaknesses or bugs in the source code interfering with the use or causing loss of Hopium DeFi tokens. Updates and alterations could lead to unexpected or unintended outcomes that have adverse effects on Hopium DeFi tokens or the Meet Hopium DeFi platform.
Exchanges may be subject to poorly understood regulatory oversight and the Company does not give any warranties regarding any exchange service providers. Users including the participant if applicable might be exposed to fraud and failure affecting those exchanges. There is no assurance that an active secondary market for Hopium DeFi tokens will develop or continue to develop.
Risk of eventual unfavorable fluctuation of Hopium DeFi’s token value.
The Meet Hopium DeFi platform is intended to be financially self-sufficient and the Company does not have specific interests in the market value of Hopium DeFi tokens. Therefore, the Company considers that it shall not be affected by unfavorable fluctuation of Hopium DeFi tokens value. On the other hand, token holders are subject to the risk of eventual unfavorable fluctuation of Hopium DeFi tokens' value as the price of Hopium DeFi tokens may vary over time due to several factors affecting the value of token holders' portfolios. Additionally, several potential events could affect the risk of unfavorable fluctuation in the value of BNB or Hopium DeFi tokens including security incidents or market irregularities at one or more of the significant cryptocurrency exchanges.
Risk of malfunction of the BSC network or any other Blockchain and competing platforms
Hopium DeFi tokens could be interacting with malfunctions unfavorably, including but not limited to one that results in the loss of Hopium DeFi tokens or prevents the use on the SONAR platform.
Unlike bank accounts or accounts with financial institutions, Hopium DeFi tokens are uninsured unless the participant specifically obtains private insurance to insure them. In the event of loss of Hopium DeFi tokens, there is no public insurer (eg Investor Compensation Scheme or private insurance arranged by the Company to offer recourse to the Participant).
The regulatory status of Distributed ledger technology Assets and their offering may be unclear or unsettled in many jurisdictions. It is difficult to predict how or whether regulatory authorities may apply existing regulations concerning technology and its applications, including the Meet Hopium DeFi Platform and the Hopium DeFi Tokens.
There are risks associated with using Hopium DeFi Tokens, including, but not limited to, the failure of hardware, software, Internet connections, or other technologies on which the Meet Hopium DeFi Platform or the use of Hopium DeFi Tokens relies. Such failures may result in disruptions in communication, errors, distortions or delays when using Hopium DeFi Tokens and the MetHopium DeFi Platform or the Website.
Since Hopium DeFi Tokens do not represent or confer any ownership right or stake, share or security or equivalent rights, intellectual property rights or any other form of participation relating to the Company, all decisions involving the Company will be made by the Company at its sole discretion, including, but not limited to, decisions to transfer more Hopium DeFi Tokens for use, and to sell or liquidate the Company. These decisions could adversely affect the utility of the Hopium DeFi Tokens the Participant holds.
The Participant understands and accepts the inherent risks associated with Hopium DeFi Tokens, to the extent not covered elsewhere in the terms, including, but not limited to, risks associated with (a) money laundering; (b) fraud; (c) exploitation for illegal purposes; and (d) any other unanticipated risks.
If any of the risks mentioned in the terms are unacceptable the Participant is not in a position to understand them, the Participant should not acquire, hold, or use Hopium DeFi Tokens.
CERTAIN INFORMATION CONTAINED IN THIS WHITEPAPER CONSTITUTES 'FORWARD-LOOKING STATEMENTS. DUE TO VARIOUS RISKS AND UNCERTAINTIES, INCLUDING THOSE DESCRIBED UNDER THE SECTION I ON RISKS, ACTUAL EVENTS OR RESULTS OR THE ACTUAL PERFORMANCE OF THE COMPANY MAY DIFFER MATERIALLY FROM THOSE REFLECTED OR CONTEMPLATED IN SUCH FORWARD-LOOKING STATEMENTS.