In September 2021, Cyclic Advertising Network ("CyclicAds") completed the minting of its BEP-20 tokens ("CYCX").
By purchasing and/or holding CYCX, each potential purchaser and holder of the CYCX ("Purchaser") accepts and agrees that to the extent permitted by law, CyclicAds disclaims all liability, damages, cost, loss or expense (including, without limitation, legal fees, costs and expenses) to it in respect of its purchase and/or holding of the CYCX.
Each Purchaser should carefully consider all factors involved in purchasing and/or holding the CYCX, including, but not limited to, those listed below and, to the extent necessary, consult an appropriate professional or other expert (including an expert in cryptographic tokens or blockchain-based software systems). If any of the following considerations are unacceptable to a Purchaser, that Purchaser should not purchase the CYCX. These considerations are not intended to be exhaustive and should be used as guidance only.
The CYCX are not intended to represent any formal or legally binding investment.
Cryptographic tokens that possess value in public markets, such as Ether and Bitcoin, have demonstrated extreme fluctuations in price over short periods of time on a regular basis. Purchasers should be prepared to expect similar fluctuations in the price of the CYCX and Purchasers may experience a complete and permanent loss of their initial purchase.
Cryptocurrency exchanges on which the CYCX may trade in the future may be relatively new and unregulated and may therefore be more exposed to fraud and failure than established regulated exchanges.
The use of the CYCX tokens could be affected by a number of factors, including slowing demand for its advertising services, increasing competition, deceases in growth of the overall cryptocurrency market, or failure to capitalise on growth opportunities.
Hackers, individuals, other malicious groups or organisations may attempt to interfere with CyclicAds advertising campaigns and the CYCX in a variety of ways such as cryptographic attacks, malware attacks, denial of service attacks, consensus-based attacks, Sybil attacks, smurfing and spoofing of traffic and users.
The regulatory status of cryptographic tokens, marketing restrictions in certain countries, blockchain and distributed ledger technology as well as its applications are unclear or unsettled in many jurisdictions and it is difficult to predict how or whether governments or regulatory agencies may implement changes to law or apply existing regulation with respect to such technology, marketing efforts and its applications, including the CyclicAds advertising network and CYCX.
The tax characterisations of CYCX are unclear and uncertain in many jurisdictions. Purchasers must seek their own tax advice in connection with purchasing the CYCX, which may result in adverse tax consequences.
The CYCX are not intended to be securities (or any other regulated instrument) under the laws of any jurisdiction where they are intended to be, or will be, purchased or sold and no action has been or will be taken in any jurisdiction by CyclicAds or any of its affiliates that would permit a public offering, or any other offering under circumstances not permitted by applicable law of the CYCX, in any country or jurisdiction where action for that purpose is required. Accordingly, the CYCX may not be offered or sold, directly or indirectly, by any Purchaser, in or from any country or jurisdiction, except in circumstances which will result in compliance with all applicable rules and regulations of any such country or jurisdiction.