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Risk
Legend of Fantasy War is currently in the initial development stages and there are a variety of unforeseeable risks. You acknowledge and agree that there are numerous risks associated with acquiring LFW, holding LFW, and using LFW for participation in Legend of Fantasy War. In the worst scenario, this could lead to the loss of all or part of LFW held. IF YOU DECIDE TO ACQUIRE LFW OR PARTICIPATE IN LEGEND OF FANTASY WAR, YOU EXPRESSLY ACKNOWLEDGE, ACCEPT AND ASSUME THE FOLLOWING RISKS:
1. Uncertain Regulations and Enforcement Actions: The regulatory status of Legend of Fantasy War, LFW and distributed ledger technology is unclear or unsettled in many jurisdictions. The regulation of digital assets has become a primary target of regulation in all major countries in the world. It is impossible to predict how, when or whether regulatory agencies may apply existing regulations or create new regulations with respect to such technology and its applications, including LFW and/or Legend of Fantasy War. Regulatory actions could negatively impact LFW and/or Legend of Fantasy War in various ways. The Company, the Distributor (or their respective affiliates) may cease operations in a jurisdiction in the event that regulatory actions, or changes to law or regulation, make it illegal to operate in such jurisdiction, or commercially undesirable to obtain the necessary regulatory approval(s) to operate in such jurisdiction.
2. Inadequate disclosure of information: As at the date hereof, Legend of Fantasy War is still under development and its design concepts, consensus mechanisms, algorithms, codes, and other technical details and parameters may be constantly and frequently updated and changed. Although this Token Documentation contains the most current information relating to Legend of Fantasy War, it is not absolutely complete and may still be adjusted and updated by the LFW team from time to time. The LFW team has neither the ability nor obligation to keep holders of LFW informed of every detail (including development progress and expected milestones) regarding the project to develop Legend of Fantasy War, hence insufficient information disclosure is inevitable and reasonable.
3. Competitors: Various types of decentralized applications and networks are emerging at a rapid rate, and the industry is increasingly competitive. It is possible that alternative networks could be established that utilize the same or similar code and protocol underlying LFW and/or Legend of Fantasy War and attempt to re-create similar facilities. Legend of Fantasy War may be required to compete with these alternative networks, which could negatively impact LFW and/or Legend of Fantasy War.
4. Loss of Talent: The development of Legend of Fantasy War greatly depends on the continued co-operation of the existing technical team and expert consultants, who are highly knowledgeable and experienced in their respective sectors. The loss of any member may adversely affect Legend of Fantasy War or its future development. Further, stability and cohesion within the team is critical to the overall development of Legend of Fantasy War. There is the possibility that conflict within the team and/or departure of core personnel may occur, resulting in negative influence on the project in the future.
5. Failure to develop: There is the risk that the development of Legend of Fantasy War will not be executed or implemented as planned, for a variety of reasons, including without limitation the event of a decline in the prices of any digital asset, virtual currency or LFW, unforeseen technical difficulties, and shortage of development funds for activities.
6. Security weaknesses: Hackers or other malicious groups or organizations may attempt to interfere with LFW and/or Legend of Fantasy War in a variety of ways, including, but not limited to, malware attacks, denial of service attacks, consensus-based attacks, Sybil attacks, smurfing and spoofing. Furthermore, there is a risk that a third party or a member of the Company, the Distributor or their respective affiliates may intentionally or unintentionally introduce weaknesses into the core infrastructure of LFW and/or Legend of Fantasy War, which could negatively affect LFW and/or Legend of Fantasy War. Further, the future of cryptography and security innovations are highly unpredictable and advances in cryptography, or technical advances (including without limitation development of quantum computing), could present unknown risks to LFW and/or Legend of Fantasy War by rendering ineffective the cryptographic consensus mechanism that underpins that blockchain protocol.
7. Other risks: In addition, the potential risks briefly mentioned above are not exhaustive and there are other risks (as more particularly set out in the Terms and Conditions) associated with your participation in Legend of Fantasy War, as well as acquisition of, holding and use of LFW, including those that the Company or the Distributor cannot anticipate. Such risks may further materialize as unanticipated variations or combinations of the aforementioned risks. You should conduct full due diligence on the Company, the Distributor, their respective affiliates, and the LFW team, as well as understand the overall framework, mission and vision for Legend of Fantasy War prior to participating in the same and/or acquiring LFW.
Last modified 2yr ago