Disclaimer

 

WEBSITE DISCLAIMER

 

The information provided on https://madworld.io/ (“Platform”) (“the Platform”, “we”, “us” or “our”) is provided in good faith, however we make no representation or warranty of any kind, express or implied, regarding the accuracy, adequacy, validity, reliability, availability or completeness of any information on the Platform. UNDER NO CIRCUMSTANCE SHALL WE HAVE ANY LIABILITY TO YOU FOR ANY LOSS OR DAMAGE OF ANY KIND INCURRED AS A RESULT OF THE USE OF THE PLATFORM OR RELIANCE ON ANY INFORMATION PROVIDED ON THE PLATFORM. YOUR USE OF THE PLATFORM AND SERVICES PROVIDED BY US AND YOUR RELIANCE ON ANY INFORMATION ON THE PLATFORM IS SOLELY AT YOUR OWN RISK.

 

EXTERNAL LINKS DISCLAIMER

 

The Platform may contain (or you may be sent through the Platform) to other websites or content belonging to or originating from third parties or links to websites and features in banners or other advertising. Such external links are not investigated, monitored, or checked for accuracy, adequacy, validity, reliability, availability or completeness by us.  WE DO NOT WARRANT, ENDORSE, GUARANTEE, OR ASSUME RESPONSIBILITY FOR THE ACCURACY OR RELIABILITY OF ANY INFORMATION OFFERED BY THIRD-PARTY WEBSITES LINKED THROUGH THE PLATFORM OR ANY WEBSITE OR FEATURE LINKED IN ANY BANNER OR OTHER ADVERTISING. WE WILL NOT BE A PARTY TO OR IN ANY WAY BE RESPONSIBLE FOR MONITORING ANY TRANSACTION BETWEEN YOU AND THIRD-PARTY PROVIDERS OF PRODUCTS OR SERVICES.

 

PROFESSIONAL DISCLAIMER

 

The content available on the Platform does not contain nor constitute investment advice. Any information is provided for general informational purposes only and is not a substitute for professional advice. Accordingly, before taking any actions based upon such information, we encourage you to consult with the appropriate professionals. We do not provide any kind of investment advice. THE USE OR RELIANCE OF ANY INFORMATION CONTAINED IN THE MADWORLD LIGHTPAPER OR OTHERWISE AVAILABLE ON THE PLATFORM IS SOLELY AT YOUR OWN RISK.

 

TOKEN DISCLAIMER

 

Purchasing, holding or using cryptographic tokens carries potential financial, regulatory and other risks, including potential loss of the entire value of payment.

 

Tokens are only for sophisticated purchasers who are knowledgeable and experienced in the features and risks of digital platforms, virtual assets, blockchain technology and smart contracts. Potential purchasers should determine for themselves the relevance of the information contained in this document and related materials, in each case as supplemented from time to time, and the necessity for additional enquiry, research and professional advice. Any decision to participate in a token sale should be based upon such independent investigation and advice as you deem necessary. The MADworld Whitepaper and the content on the Platform should not be considered as recommendation by any person to participate in any token sale or the Platform.

 

In particular, you should not hold any UMAD tokens unless you have read and understood the MADworld Whitepaper and these disclaimers and fully understand the context of the token sale, including at least the following:

 

          the nature and purpose of the UMAD token and its cryptographic context;

          the Terms and Conditions of the Platform;

          the procedures required to acquire UMAD tokens;

          the nature and the extent of the risks to which you may be exposed by acquiring, holding and transferring UMAD tokens, including those set out in the Risk Disclosure (see below); and

          any regulatory, tax and accounting treatment of participating in the token sale and purchasing, holding, transferring or exchanging UMAD tokens, as well as any other relevant implications.

 

The MADworld Whitepaper is not a prospectus nor a solicitation for investment and it does not pertain in any way to an offering of securities in any jurisdiction.

 

The UMAD tokens are utility tokens and therefore not intended to constitute securities in any jurisdiction, and the MADworld Whitepaper does not constitute a prospectus or offer document of any sort and is not intended to constitute an offer or sale of securities or a solicitation for investments in securities in any jurisdiction in which such offer or sale or solicitation in unlawful. The contents of the MADworld Whitepaper are not a financial promotion. None of the contents of MADworld Whitepaper serves as an invitation or inducement to engage in any sort of investment activity.

 

The MADworld Whitepaper has been prepared in good faith to provide a comprehensive overview and roadmap of the MADworld project and the UMAD token and is for information purposes only.

 

By accessing the MADworld Whitepaper or otherwise seeking to purchase UMAD tokens you are deemed to represent to us that you and any person you represent have complied with these restrictions and you will not provide such document to any person to whom delivery would be unlawful nor use it in connection with any action in any place where such action is not permitted by law. If you have gained access to the MADworld Whitepaper contrary to any of these restrictions, you are not authorised and you cannot seek to nor purchase, hold, or transfer UMAD tokens.

 

Information Subject to Changes

 

Along with the development of the Platform, the MADworld Whitepaper may be amended from time to time. Please also note that the MADworld Project itself may be redesigned or otherwise revised in future, if that would be required for any material reasons (including, but not limited to: commercial considerations, technical possibilities, or the need to ensure compliance with any (existing or future) applicable laws and regulations, or any other material reasons). The information in the MADworld Whitepaper and content on the Platform remains subject to change without notice. No responsibility or liability is assumed by us for updating any information in the MADworld Whitepaper and/or the Platform or to inform any recipient of any new or more accurate information or any errors or mis-descriptions of which any member of the Company or its advisers may become aware.

 

Restrictions from Participation

 

U.S. Persons, as defined in Regulation S under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), are prohibited from accessing the MADworld Whitepaper and its website. Nothing in the MADworld Whitepaper or its website shall be deemed to constitute an offer, offer to sell, or the solicitation of an offer to buy, any securities in any U.S. jurisdiction. Each person accessing the MADworld Whitepaper or its website will be deemed to have understood and agreed that: (1) he/she/ it is not a U.S. citizen and is located outside of the U.S.; (2) any securities described herein have not been and will not be registered under the U.S. Securities Act or with any securities regulatory authority of any state or other jurisdiction of the United States, and may not be offered, sold or delivered within the United States or to, or for the account or benefit of, U.S. persons except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable state securities laws.

 

RESIDENTS OF CERTAIN JURISDICTIONS ARE ALSO RESTRICTED FROM PARTICIPATING IN THE UMAD TOKEN SALE. A LIST OF THESE JURISDICTIONS WILL BE SET OUT ON THE PLATFORM AND MAY BE SUBJECT TO CHANGE AT OUR DISCRETION.

 

Risk Disclosure

Participating in the UMAD toke sale, holding UMAD tokens and using the Platform involve risks, some of which are set out below.

These risks, and additional risks arising either now or in the future, could result in the failure of the UMAD token sale, the destruction of UMAD tokens or the utility of UMAD tokens, and/or the termination of the development of the Platform.

You may lose your entire investment or UMAD tokens.

You must consider carefully whether the risks set out below, as well as all other applicable risks, are acceptable to you prior to purchasing any UMAD tokens.

You should seek professional advice (legal, taxation, financial, technical or otherwise) regarding your particular situation before participating in the UMAD token sale, holding the UMAD tokens or using the Platform.

 

(a)                 Developmental nature of the Platform

The Platform remains at a developmental stage as of the date and may undergo significant changes before it is released. Various features of the Platform, including (but not limited to) its terms and conditions, fees, structure, purpose, consensus protocol, algorithm, source codes, infrastructure design and other technical specifications and parameters, may be updated and changed frequently without notice.

Further, we may encounter difficulties during development of the Platform, including financial, resourcing and technical difficulties. These difficulties are unpredictable and may be unresolvable.

Development of the Platform may therefore fail, terminate or be delayed at any time for any reason. The Platform or the MADworld Project as a whole may never be realised. Such failure, termination or delay is likely to reduce and may completely obliterate any utility that UMAD tokens may hold.

 

(b)                Development team risk

The development team currently consists of a limited number of individuals. Changes to the team may therefore adversely impact on the creation and establishment of the Platform.

 

(c)                 Incomplete information regarding the Platform

You will not have full access to all the information relevant to MADworld and/or the Platform. We are not required to update you on the progress of the Platform. It is possible that you may not be aware on a timely basis of material adverse changes that have occurred with respect to certain of its investments.

 

(d)                Lack of operating history

MADworld is a start-up and has no operating history or track record that could be used (on its own) to evaluate its ability to deliver the Platform. We also face substantial financial and operating risks. We may experience unexpected problems in the areas of product development, marketing, financing, and general management, among others, which frequently cannot be solved. In additional, we may require substantial amounts of financing, which may not be available through institutional private placements, the public markets or otherwise.

 

(e)                 No participation rights in the Company attaching to UMAD tokens

UMAD tokens confers no ownership rights of any kind with respect to the capital of the Company nor any rights of payment, remuneration, profit distribution or money reward of any kind.

 

(f)                  No assets or property underlying tokens

UMAD tokens confer no ownership interest in any underlying assets or property. Nothing underpins the value of the UMAD tokens other than the prospect of the Platform or the MADworld Project.

 

(g)                Replication, modification or enhancement arising from open source nature of Platform

Anyone could replicate, modify or enhance the technologies that underlie the Platform, and readily create competitors for the Platform. These competitors may be more successful than the Platform.

 

(h)                Potential for misuse of the Platform

Services which may be banned, restricted or deemed immoral in certain jurisdictions may potentially use the Platform. The Platform may potentially be used for activities that are illegal in certain jurisdictions. As a result, governmental authorities or regulators may take action against the Platform. This may deter users from using the Platform or may involve the complete shutdown of the Platform.

 

(i)                   Reliance on third-party contractors

Development of UMAD tokens and the Platform, and the operation of the UMAD token sale, will require third-party contractors with particular expertise in blockchain technology. The availability of such contractors is limited. They may be appointed on a formal or informal basis. If

appointed under a service agreement, that service agreement may not be fit for purpose, and may fail to adequately protect us against the loss caused by or arising in respect of the contractor. There may not be sufficient (or any) such contractors available on terms deemed acceptable by us. The costs associated with any such contractors may be significantly greater than currently estimated.

Further, the quality, reliability and timely delivery of services by such contractors may vary significantly.

 

(j)                   Utility of UMAD tokens depends on the Platform

The utility of the UMAD tokens depends on the success of the Platform, if developed. The Platform may not be popular or widely used, and the Platform may fail to attract a critical mass of users or become obsolete or inviable as a result of various circumstances, including technical advancement and competitors. Such a lack of use or interest could negatively impact the development of the Platform and therefore the potential utility and value of UMAD tokens.

 

(k)                 Competitor success

There are other persons looking to develop a blockchain technologies for enterprises. The Platform seeks to maintain a competitive advantage through its use of new blockchain protocols. Potentially one of these persons could produce, a better, more economical, more accessible, more versatile, more customer friendly or otherwise more favourable product, relative to the Platform. We may make changes to the features and components of the Platform to address market demand and obtain an advantage over comparable products, thus increasing its funding requirements.

It is possible that a comparable product could become popular due to a perceived or exposed flaw of the Platform that is not addressed by the Company effectively and expediently. It could become more popular even if it is not technologically or otherwise superior. There may also be a perceived advantage of a comparable product that includes features not incorporated in the Platform. If this product achieves a significant market share, there may be a range of negative.

 

(l)                   Potential for misuse of the Platform

Services which may be banned, restricted or deemed immoral in certain jurisdictions may potentially use the Platform. The Platform may potentially be used for activities that are illegal in certain jurisdictions. As a result, governmental authorities or regulators may take action against the Platform. This may deter users from using the Platform or may involve the complete shutdown of the Platform.

 

(m)               Speculation may drive demand for UMAD tokens

Demand for UMAD tokens may be partially or wholly driven by speculation.

 

(n)                Increase in circulating supply of UMAD tokens

The circulating supply of UMAD tokens may increase. You will not necessarily be notified of any increases in the supply of the UMAD tokens.

 

(o)                Further token sales and development and sale of additional tokens

We reserve the right, from time to time, and without prior notice or consultation, provide additional UMAD tokens and we may develop additional tokens in respect of the Platform, or otherwise raise funding for the Platform through other means we deem necessary. You will not necessarily receive notice of the provision of additional UMAD tokens or of any other tokens or fundraising means.

 

(p)                Volatility of UMAD tokens

The circulation of UMAD tokens is not our responsibility and we are not obliged to support or otherwise facilitate the secondary trading of UMAD tokens. As a result, UMAD tokens may not circulate freely or widely, and may not be listed on any secondary markets.

Even if UMAD tokens do circulate on secondary markets, the value of UMAD tokens may be highly volatile. Factors such as perceptions of the Platform or MADworld, delays in the development of the hi Platform, fluctuations in comparable projects and token sales, market dynamics, regulatory actions and changes, technical advancements, as well as broader economic and political factors, may cause the value of UMAD tokens to fluctuate or change significantly over a short period of time.

In addition, there may be insufficient liquidity to support an active market in UMAD tokens, or the market in UMAD tokens may become susceptible to market manipulation.

 

(q)                Volatility of virtual assets and fiat currencies

Payments are made in virtual assets, USD or other fiat currencies. We may hold the proceeds from the sale of UMAD tokens in virtual assets or fiat currencies, or a combination of any of them. The value of these fiat currencies and virtual assets may fluctuate significantly over a short period of time as a result of market dynamics, regulatory actions and changes, technical advancements, exchange availability and broader economic and political factors. This volatility is likely to impact the funding that is available for developing the Platform and may affect the utility of UMAD tokens.

 

(r)                  Concentration of token ownership

At any point in time, one or more persons may directly or indirectly control significant portions of the total supply of UMAD tokens. Acting individually or in concert, these holders may have significant influence over the Platform. They may make decisions that are not in your best interest as a holder of UMAD tokens.

 

(s)                 Legal status of token, token sale and the Platform is pending

The laws of various jurisdictions may apply to UMAD tokens, the UMAD token sale and the Platform. Further the laws governing or in relation to virtual assets and/ or crypto currencies are constantly evolving. The application of these laws and regulations to UMAD tokens, the UMAD token sale and the Platform is largely untested, and is subject to change without notice. In particular, any current governmental or regulatory tolerance of virtual assets can change rapidly, and UMAD tokens may at any time be deemed to be a security, investment, asset or money by governmental authorities or regulators.

On the other hand, new or changing laws and regulations or interpretations of existing laws and regulations may materially and adversely impact the value of the currency in which the UMAD tokens may be exchanged, if applicable, the liquidity of the UMAD tokens, and the structure, rights and transferability of UMAD tokens.

As a result, it is possible that there could be legal disputes over the interpretation of smart contracts used in connection with the Platform, thus undermining the functionality of the Platform and UMAD tokens.

We may receive formal or informal queries, notices, requests or warnings by governmental authorities and regulators. Action may be taken by governmental authorities and regulators against us or the Platform. As a result of such events, we may be required to discontinue the UMAD token sale and/or the Platform.

You may also be subject to governmental or regulatory action by participating in the UMAD token sale, holding of UMAD tokens and/or using the Platform (if and when developed).

 

(t)                  Migration to the Platform

Migration of UMAD tokens to another blockchain may or may not occur.

It is the Purchaser’s responsibility and decision whether or not to participate in migration. Failure to participate in any migration, by exchanging the UMAD tokens for other virtual assets, or failure of the migration to occur, will affect the tokens utility. We make no warranties in respect of any migration, including that it will be uninterrupted, occur at a particular time (if at all), or be secure or free from error.

 

(u)                Tax treatment and accounting

The tax treatment and accounting of virtual assets is a largely untested area of law and practice that is subject to prospective and retrospective changes without notice. Tax treatment of virtual assets may vary amongst jurisdictions. Your participation in the UMAD token sale, the holding of UMAD tokens or use of the Platform as a result of or in connection with any purchase, grant, delivery, exercise, vesting, distribution, activation, release, holding, use, appreciation, conversion, sale, exchange, redemption, assignment, transfer, disposal, may attract taxes either now or in the future. We may receive formal or informal queries, notices, requests, or summons from tax authorities and as a result we may be required to furnish certain information about the token sale and/or the Platform. You should seek independent professional advice on the tax implications in relation to the UMAD token sale, use of the Platform and/or other transactions for your particular situation

 

(v)                 Reliance on the internet

UMAD tokens, the token sale and the Platform rely heavily on the internet. However, the public nature of the internet means that either parts of the internet or the entire internet may be unreliable or unavailable at any given time. Further, interruption, delay, corruption or loss of data, the loss of confidentiality in the transmission of data, or the transmission of malware may occur when transmitting data via the internet.

 

(w)               Reliance on Internet infrastructure

The Platform relies on the infrastructure and reliability of the internet infrastructure of the markets in which it operates. There may not be alternative networks or data servers in the event of failures or interruptions with the internet infrastructure. Any unscheduled service interruption or failure could result in unavailability or limited performance of the Platform.

 

(x)                 Reliance on Ethereum

UMAD tokens, the token sale and the Platform rely on Ethereum. Ethereum is open source software that is built upon experimental technology, namely blockchain. As an open source project, we will not be represented, maintained or monitored by an official organization or authority. Risks arising from this reliance include (but are not limited to):

(i)                   the existence of technical flaws in Ethereum;

 

(ii)                 targeting of Ethereum by malicious persons;

 

(iii)                majority-mining, consensus-based or other mining attacks on Ethereum;

 

(iv)               changes in Ethereum’s consensus protocol or algorithms;

 

(v)                 decreased community or miner support for Ethereum;

 

(vi)               rapid fluctuations in the value of ETH;

 

(vii)              the existence or development of competing networks and platforms;

 

(viii)            the existence or development of Forked versions of Ethereum;

 

(ix)               flaws in the Solidity scripting language;

 

(x)                 disputes between Ethereum developers, miners and/or users; and

 

(xi)               regulatory action against Ethereum developers, miners and/or users.

 

(y)                 Conflicts of interest

There may be potential circumstances where the interests of the Company may diverge from those of UMAD token holders. The Company is not obliged to refrain from such decisions in the interests of the Company. By participating in the UMAD token sale, each Purchaser will be deemed to have acknowledged these potential conflicts of interest and to have waived any claim with respect to any liability arising from the existence of any such conflicts of interest.

 

(z)                 Unknown risks

There are things that will be discovered in the development process which at this point cannot be predicted. In other words, despite best efforts, The Company may not yet know all the risks that will be associated with the Platform and UMAD token.

 

(aa)             Cryptographic advancements

Developments in cryptographic technologies and techniques, including (but not limited to) the advancement of artificial intelligence and/or quantum computing, pose security risks to all cryptography-based systems including UMAD tokens and the Platform. Applying these technologies and techniques to UMAD tokens and/or the Platform may result in theft, loss, disappearance, destruction, devaluation or other compromises of UMAD tokens, the Platform or your data.

 

(bb)            Source code changes and flaws

The various source codes used in the token sale and (if and when developed) the Platform are subject to change and may at any time contain one or more defects, weaknesses, inconsistencies, errors or bugs.

 

(cc)             No anonymity when using Ethereum

Your participation in the UMAD token sale, holding and transfer of UMAD tokens and/or use of the Platform (if and when developed) will not be anonymous. Your address and such participation will be recorded on an un-permissioned blockchain, namely Ethereum. It is possible to match addresses to identities.

(dd)            Inadequate computing resources

The UMAD token sale and the Platform will require intensive computing resources. The demand for these resources may exceed our estimates.

 

(ee)             Loss of private key is permanent and irreversible

You alone are responsible for securing your private key, whether or not we hold the private keys on behalf of you.

Losing control of your private key will permanently and irreversibly deny you access to your UMAD tokens. Neither MADworld, the Company nor any other person will be able to retrieve or protect your UMAD tokens. Once lost, you will not be able to transfer your UMAD tokens to any other address or wallet. You will not be able to realise any value or utility that the UMAD token may hold now or in future.

 

(ff)                Targeting of UMAD tokens, the token sale, the Platform and MADworld by malicious persons

UMAD tokens, the UMAD token sale, the Platform and MADworld may be targeted by malicious persons who may attempt to steal UMAD tokens or the sale proceeds, or otherwise intervene in the UMAD token sale, the Platform or MADworld.

This includes (but is not limited to) interventions by way of:

(i)                   distributed denial of service;

 

(ii)                 Sybil Attacks;

 

(iii)                phishing;

 

(iv)               social engineering;

 

(v)                 hacking;

 

(vi)               smurfing;

 

(vii)              malware;

 

(viii)            Double Spending;

 

(ix)               majority-mining, consensus-based or other mining attacks;

 

(x)                 misinformation campaigns; and

 

(xi)               spoofing.

 

(gg)            Targeting of data through the platform

We will have access to a large amount of information through the Platform, and the improper use or disclosure of such information could harm its reputation and/or the operation of the Platform. We may experience security breaches and be subject to attacks, which may compromise the security of the information stored or controlled by us. We may not have the resources or technical sophistication to anticipate or prevent rapidly evolving types of cyber-attacks. Failure to do so would result in a loss in confidence of our business and the Platform.

 

(hh)            Targeting of Purchaser by malicious persons

Malicious entities may target you in an attempt to steal any UMAD tokens or cryptocurrencies that you may hold, or to claim any UMAD tokens that you may have purchased. This may involve unauthorised access to your digital wallet, your private keys, your virtual assets addresses, your Account, your email or social media accounts, as well as unauthorised access to your computer, smartphone and any other devices that you may use.

You alone are responsible for protecting yourself against such actions.