Disclaimer and Risk Disclosure
Last updated: February 4, 2023
This Legal Disclaimer and Risk Disclosure statement (hereinafter the "Document"), constitute an inseparable part of the Zenland Terms of Service, and shall not be viewed as sufficient or exhaustive on their own. Neither the Disclaimer nor the Disclosure of Risks contained in this Document substitute legal advice nor exempts from due diligence before making any personal, individual, or group decisions, including but not limited to financial decisions of any kind, value, or impact. The purpose of this document is to a) inform the User (hereinafter the "User", "ZENF user", "Token recipient", "you", "your", "yours") about potential risks associated with the use or misuse, or an attempt to use or misuse, whether accidental or intentional, of Zenland, hosted at https://zen.land, any of its services or website(s) hosted at subdomains, or otherwise publicly accessible resources, (hereinafter the "Service", "Zenland", "Zenland app", "we", "us", "ours") or its utility token (ZENF) Zenland Fee (hereinafter the "Token", "Zenland Fee token", "ZENF token", "ZENF utility token", "our utility token", "our token"); and b) to legally disclaim potential risks associated with the use or misuse of such Service or Token, collectively known as Project (hereinafter the "Project", "Zenland project", "our project"). We reserve the right to change, modify, add, or remove the information contained in this document at our discretion and without prior notice to users. We suggest that you review the information contained herein and other applicable documents hosted on https://zen.land periodically for changes. Such changes shall be effective immediately upon posting them on the website.
PLEASE PROCEED CAREFULLY THROUGH THIS DOCUMENT CONTAINING A DISCLAIMER OF POSSIBLE RISKS AND LIABILITY LIMITATIONS BEFORE MAKING ANY DECISIONS OR TAKING ANY ACTIONS.
- To the maximum extent permitted by all applicable laws, Zenland, any of its directors, shareholders, officers, employees, agents, or affiliated third parties, whether officially appointed and authorized or unknown to us, will not be responsible to the User or held liable for any losses or damages arising from ignorance, disregard, or negligence, whether intentional or accidental, of this Document disclaiming and disclosing the risks associated with the Project, or any applicable and publicly available files regarding the Project, its Service, Token, or business model on the official website at https://zen.land, its subdomains, or official media channels. We hereby disclaim that it is the User's responsibility to research, analyze, verify, and build a sufficient ground for any actions associated with financial, legal, psychological, or medical costs of the omission, ignorance, or negligence of such advised course of action.
- Accuracy and efficiency
- We have not verified the accuracy, validity, efficiency, or basis-in-fact of any claim or statement made by any User or of any information related to the Project, including but not limited to algorithmically computed information hosted at https://zen.land, its subdomains or official media channels. Information presented on this website does not necessarily represent the Project or the opinion of its management. All information presented through the media channels authorized third parties, or Zenland's official website and its subdomains are provided on an “as is” basis, without any warranties or representations expressed, implied, or statutory; including, without limitation, warranties of quality, performance, timeliness, accuracy, financial results, non-infringement, merchantability or fitness for a particular purpose. Nor there are any warranties created by a course of dealing with other users or our utility token usage.
- We do not warrant that the information, including but not limited to forward-looking statements, and/or Service or Token information made publicly available will meet User’s needs or be free from errors, or that the operation of the Service presented herein will be uninterrupted or free of errors or omissions despite our best efforts to implement the necessary modification and changes to the Project with due attention and in a timely manner.
- Modifications and changes
- Users considering acquiring ZENF utility tokens must be aware that the Zenland business model, Terms of Service, and other applicable policies described by the official documents may change or need to be modified to fit new regulatory and compliance requirements by any applicable laws in any jurisdictions where the Service or Token are provided. Therefore, you acknowledge and understand that neither zenland nor any of its affiliates, shareholders, directors, officers, employees, and agents shall be held liable for any direct, indirect, special, incidental, consequential, exemplary, or punitive damages, or damages of any kind for lost profits or revenues, whether factual or implied, trading losses, inaccurate distributions, loss of business or data, even if advised of the possibility of any such damages and regardless of whether such liability is asserted on the basis of contract, tort or otherwise, caused by such modifications and changes.
- No professional advice (watch for regulations
in your own jurisdiction)
- No regulatory authority has reviewed or approved any of the available information about the Project (its Service, Token). No such action has been or will be taken under any law, regulatory requirement, or regulation of any jurisdiction. The publication, distribution, or dissemination of the available information, whether by Zenland or its users, does not imply compliance with any applicable law, regulatory requirement, or regulation. Nor does the availability of such information on the official website hosted at https://zen.land, its subdomains, or through publicly authorized third parties or known or unknown users substitute professional advice, including but not limited to legal or financial advice.
- No solicitation
- We are not soliciting any action about the Service, Token, or Project as a whole, based upon the information published or distributed through our website, its subdomains, official media channels, or third parties, whether known or unknown to us. Thus, the information posted through such channels should not be interpreted as an offer to sell or a solicitation of an offer to buy the Service or its ZENF utility token in any jurisdiction. It is for the general information of Users and does not constitute a recommendation or take into account the particular objectives, financial situations, or needs of individual users, and therefore, shall not be held liable for unsolicited actions arising from misinterpretation or misuse of the information, Service, or Token.
- No shareholder ownership
- Ownership of tokens carries no rights, expressed or implied, other than the right to use such tokens as a means to enable the use of and interaction with our Service if successfully completed and deployed. In particular, you understand and accept that tokens do not represent or confer any ownership right or stake, share or security or equivalent rights, or any rights to receive future revenue shares, intellectual property rights or any other form of participation in relation to the Project, its shareholders, directors, officers, agents, employees, or affiliated third parties other than the rights relating to the use of the Service or Token, subject to limitations and risks disclaimed in this Document, Terms of Service, and all applicable policies and procedures.
- Copyright and IP rights
- We acknowledge and agree that you, or your licensors, as applicable, retain ownership of any and all copyrights and intellectual property rights in your content voluntarily submitted to be hosted at https://zen.land, its subdomains, or distributed via official media channels, subject to royalty-free non-exclusive irrevocable rights granted to us on submission of such content (whether manual or automatic). Other than these agreed-upon ownership rights for solicited or unsolicited third-party submissions, Zenland holds no rights over third-party content exchanged between users of the Service. Under no circumstances, shall we be liable for damage or loss of any kind associated with the unlawful use of copyright or intellectual property rights of their respected owners, or for any costs incurred as a result of legal disputes or their settlements over such ownership claims.
- Malware and security
- Unlawful activity
- To the maximum extent permitted by all applicable laws, we shall not be liable for Users and Token recipients, who are knowingly or unknowingly, involved in unlawful activity of any kind, duration, or severity, expressed or implied. Hereby we disclaim liabilities for any damages, tort (including negligence), or otherwise for any loss of profits (whether direct or indirect), data, opportunity, anticipated savings, or any indirect, incidental, special, or consequential damages arising from such unlawful activity, however big or small. At our discretion and under suspicion of fraudulent activity, we reserve the right to suspend your profile for further investigation and report to the appropriate legal authorities in your jurisdiction in compliance with all applicable laws and regulations. It is your sole responsibility to warrant the use of the Service or Token to the maximum extent permitted by applicable laws, including such in your jurisdiction.
- Restricted eligibility
- Continued use and access to the Service or ZENF token constitute the necessary level of familiarity with all related regulations in the specific jurisdiction in which you are based and that blockchain services, without limitations to smart contracts, and purchasing cryptographic tokens in that jurisdiction are not prohibited, restricted, or subject to additional conditions of any kind that may interfere with our provision of Service or Token, and in any way impact the overall reputation and progress of the Project. Zenland shall not be held liable for any legal or monetary consequence arising from buying ZENF utility tokens by the citizens or residents of the United States, Singapore, China, South Korea, or other territories with specifically enforced policy restrictions against the use of cryptocurrency tokens. The use of the Service or Token by any User regardless of country of residence or citizenship implies full agreement with our Terms of Service and other applicable policies of fair use and risk disclosure made publicly available elsewhere on our website.
- Third parties
- The provision of Service, ZENF token, or Project as a whole may involve third parties, including but not limited to Zenland community members, Service users, Token-related, auditing and security-related, marketing, and media-related entities over which we may have a limited impact or influence in accordance with all applicable laws and regulations in certain jurisdictions. Therefore, Zenland shall not be held liable for the provisions of services of any kind, whether solicited or unsolicited, undertaken by third parties to the maximum extent permitted by applicable laws.
- User decisions are not regulated
- You must read, comprehend, and carefully consider the risks described below before making any decisions that may have any legal, financial, medical, psychological, or social implications for you, other users of the Service or ZENF token, your community, or any third party directly or indirectly associated with such decisions. Such a decision must be made with full awareness of the known or unforeseen risks involved disclosed in this Document.
- Regulatory compliance risk
- The regulatory environment concerning cryptocurrencies and cryptocurrency projects continues to develop. The application and interpretation of existing laws and regulations are often largely untested and there is a lack of certainty as to how they will be applied. New laws and regulations will be promulgated in the future that applies to blockchain technology and service tokenization, and no assurance can be given that any such changes will not adversely affect cryptocurrencies generally or the Service or Token we offer. It is not possible to predict how such changes would affect the price and liquidity of the ZENF utility token, which may be subject to security laws and taxation regardless of its intended use within the Project. You must inform us at [email protected] if your jurisdiction, previously having no such restrictions in place, implements the new regulations regarding our Service and Token imposing restrictions of some kind that may affect its availability. To adhere to regulatory compliance requirements, we may limit the availability of the Service or Token to select jurisdictions and disallow their access and use based on the User's citizenship, residence, or location if doing so becomes commercially unsustainable or legally prohibited, which could materially affect the Project and put the provision of the Service or Token at risk. As a noncompliance consequence, incurred losses may impact the Project's reputation, perceived and actual business value of its Service and Token, and contribute to its termination.
- Reliance on third parties
- As a Service and Token provider in the blockchain industry, Zenland is reliant on third-party providers, including but not limited to open-source blockchains, protocols, web3 wallets, a blockchain infrastructure, hosting cloud infrastructure, and internet service providers. If these parties were to discontinue providing services or fail to provide the type of service agreed to, we could experience significant disruption, may be subject to litigation, or be subjected to increased regulatory scrutiny. Furthermore, technical changes and major updates, security attacks, including but not limited to the risk of mining attacks (double-spend attacks, majority mining power attacks, “selfish-mining” attacks, and race condition attacks, etc.), risk of theft and hacking (without limitations to denial of service attacks, Sybil attacks, spoofing, smurfing, malware attacks, or consensus-based attacks, etc.), financial, operational, or other changes may affect the provision of Service and Token and terminate the Project as a whole.
- Tokens are novel
- ZENF utility token has no performance history and is not insured, guaranteed, backed by an indenture or sinking fund, or otherwise supported in its price by any underlying item of value. Any value they may hold at any time may decrease or be eliminated. Tokens are issued to facilitate the use of the Service and are not the obligations of or guaranteed or indemnified by any other entity. Due to prohibitions applied to token transactions to restricted jurisdictions, whether knowingly or unknowingly, that may interfere with our provision of Service or Token, and in any way impact the overall reputation and progress of the Project, the demand for the Token and the price at which it is traded may be limited by these prohibitions. Tokens are not legal tender, are not backed by any government, and accounts and value balances are not subject to related protections. Cryptocurrencies are volatile, and our utility token may suffer from such volatility. Furthermore, the Token may be significantly influenced by microeconomic and macroeconomic market factors. Volatility may decrease the use of it as a result of a perception that all, or a particular token is unreliable.
- Cryptography and security risk
- Despite the reliance on the cryptographic security of the blockchain and appropriate smart contract audits, the provision of the Service and Token cannot guarantee absolute security at all times. Advances in cryptographic methods or algorithms, or with technology such as with quantum computing, could present risks to all cryptography-based systems, including Tokens and open-source blockchain technology upon which they are based. These advances could result in the theft, loss, disappearance, destruction, or devaluation of the Token. Furthermore, no one can guarantee the Service or Token are and shall remain flaw-free. Flaws, errors, internal defects, or bugs in such may compromise the security, integrity, and confidentiality of user data, and accessibility of the system, and be exploited to defraud, launder money, or for other unlawful activities that could result in unintentional violations of applicable laws or regulations forcing us to incur legal and other costs, financial penalties, any of which could have a material and adverse effect on the reputation, operations, financial performance, and prospects of Service and Tokens. This could compromise the overall value of ZENF tokens and have a considerable impact on the Project, its provision, and business strategy.
- Updates and changes to source code
- To ensure cryptographic compliance and security, whenever necessary and without prior notice to a User we may update the source code. Neither users nor Zenland is able to foresee or guarantee the precise result of such updates, amendments, alterations, or modifications. As a result, any update, amendment, alteration, or modification could lead to an unexpected or unintended outcome that adversely affects ZENF utility tokens and Project operation or market value.
- Unexpected changes in technology and
- The blockchain industry is characterized by rapid technological change impacting the Project's perceived and actual value, reputation, revenue, customer base, and the ability to quickly adapt to the market demands and/or the emergence of new industry standards and practices, competitors, or blockchain "forks" which may undermine the usability and sustainability of the Service and its Token. Therefore, there is always a risk that the Project may not successfully implement new technologies or adapt its approach and services to market demands or emerging industry standards in a timely and cost-effective manner.
- Transaction gas price and processing are not
- Considering the rapid change in blockchain technology and the emergence of new industry standards and practices, the cost of any blockchain transactions may be positively or negatively impacted. As a consequence, the provision of the Service and Token may carry the costs associated with the gas price increase or decrease in the particular blockchain network, or be impacted by the transaction processing time resulting in material loss or gain for the User.
- Tokens may be lost or stolen
- Since cryptocurrency tokens are stored in third-party wallets accessible by private keys there is always a risk of any or some tokens being lost or stolen if the keys are compromised. The loss or destruction of a digital wallet's private key may render the Tokens on such wallet inaccessible. Furthermore, if a private key is learned or copied by another person, such a person could misappropriate the Tokens stored in the digital wallet. Participants are required to safeguard the private keys of their digital wallets. We shall not be liable for any damage or loss due to your private key being lost, divulged, destroyed, or otherwise compromised.
- Forward-looking statements
- All statements contained on our website at https://zen.land, its subdomains, official media channels, statements made in press releases or other places available to the public, and oral statements made by Zenland or any of its shareholders, directors, officers, employees, agents, or affiliated third parties, whether officially appointed and authorized or unknown to us (as the case may be) that are not statements of historical fact constitute “forward-looking statements”. Some of these statements can be identified by forward-looking terminology such as “aim”, “anticipate”, “believe”, “could”, “estimate”, “expect”, “if”, “intend”, “may”, “plan”, “possible”, “likely”, “project”, “should”, “would”, “will” or similar terms. However, these terms are not the only means of identifying forward-looking statements. All statements relating to Zenland’s financial condition, business strategies, plans and prospects, and the future prospects of the industry in which the Project operates are forward-looking statements. These forward-looking statements, including but not limited to statements about ZENF's expected revenue profitability and growth, prospects, future plans, other expected industry trends, and other matters discussed in the available information about the Project, are matters that are not historical facts but are estimates and predictions only. These forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual future results to be materially different from any future results, anticipated, expressed, or implied by such forward-looking statements.
- Operational risks and expenses
- Over the course of its existence, the Project may encounter talent risks (the loss of the top managerial talent or subject matter experts), major violations of the internal policies (information security, code of conduct, etc.), system failure, damage to physical assets (including but not limited to force major situations, natural disasters, and other emergency situations) and other operational risks and subsequent financial expenses may have a significant impact on the future provision of the Service and Token, and its continued availability to eligible Users. In the most severe cases, this may affect the Project's reputation and lead to its full or partial discontinuation.
- Project may be terminated
- Due to the disclosed foreseen and unforeseen risks over the course of the Project, it may be terminated and the provision of the Service and Token shall be stopped. Should this occur, there is a risk that ZENF recipients may not receive the Tokens allocated to them and the expected value associated with such allocation. As such even if the allocation is provided in full, the actual value of it may have decreased due to fluctuation in the market rate of cryptographic tokens, deductions of transaction fees, or other external factors beyond our control.
- Intellectual property risk
- Zenland depends on proprietary technology and other intellectual property. As such, we may be unable to prevent the misappropriation of our proprietary technology or intellectual property. Failure to adequately protect proprietary technology and intellectual property could cause reputational harm and affect our ability to compete effectively. Litigation to enforce intellectual property rights may require significant financial and managerial resources which may not be available to us at the time.
- Contribution risk
- A failure to ensure operational, legal, and regulatory compliance may have financial implications for ZENF users if the value of purchased tokens decreases to such an extent that our internal resources will not be able to cover the losses. Furthermore, no assurance is given that any rate of return objectives will be realized or that there will be any return of capital for ZENF users except the conditional top-up bonus that can be discontinued at our discretion (ZENF users paying the service fee with ZENF will receive 50% more to their internal balances).
- Thank you for reading this Document and taking the time to process the risks associated with the use of our Service or Token. You may refer to the official Documentation and Whitepaper for more information on the Project.
- If you have any questions about Zenland, its services, strategy, or policies not available anywhere at https://zen.land, its subdomains, or through official social media channels you may send your queries to [email protected].