Last updated: 22.July.2020
The DIA Tokens are long-term entrepreneurial risk participations. The Tokenholder shall be aware that the proceeds are used for entrepreneurial purposes of DIA Association and represents liable capital. Despite commercial diligence, it may occur that the development of the investments made with the Purchase Price is negative and that the business cannot be continued. Therefore, the purchase of the Tokens is related to substantial risks and may lead to a total loss of the invested capital. The Purchaser must bear this in mind at any time.
DIA Association does not warrant or guarantee a specific life time of the services offered by DIA Association and, therefore, not the profitability of the investment and the usefulness of the services for the Investor.
But we operate open-source, and commit to do so in the future, to provide continuity to the ecosystem for this case.
Investments in start-ups including DIA Association involve a high degree of risk, including a possible loss of the entire Purchase Price. Participation in token offerings including the DIA Token offerings may involve an even higher degree of risk. Financial and operating risks confronting start-ups are significant: DIA Association is not immune to these. The start-up market in which DIA Association competes is highly competitive and the percentage of companies that survive and prosper is small. In addition, hereto, DIA Association is in direct competition with existing and yet to be developed companies.
Start-ups often experience unexpected problems in the areas of product development, marketing, financing, and general management, among others, which frequently cannot be solved. In addition, start-ups may require substantial amounts of financing, which may not be available through institutional private placements, the public markets or otherwise. DIA Association may be forced to cease operations or take actions that result in its dissolution (such as (a) a voluntary termination of operations of DIA Association, (b) a general assignment for the benefit of DIA Association’s creditors or (c) any other liquidation, dissolution or winding up of DIA Association, whether voluntary or involuntary). It is possible that, due to any number of reasons, including, but not limited to, an unfavourable fluctuation in the value of cryptographic and state currencies, the inability of DIA Association to procure the necessary information to be fed into the DIA Token and/or put these DIA Tokens in operation, the failure of commercial relationships, or intellectual property ownership challenges, DIA Association may no longer be viable to operate and DIA Association may dissolve or take actions that result in a dissolution event.
DIA Association has been founded on 28 May 2018.
A private key, or a combination of private keys, is necessary to control and dispose of DIA Tokens stored in your digital wallet or vault. Accordingly, loss of requisite private key(s) associated with your digital wallet or vault storing DIA Tokens will result in a loss of such DIA Tokens. Moreover, any third party that gains access to such private key(s), including by gaining access to login credentials of a hosted wallet service you use, may be able to misappropriate your DIA Tokens. Any errors or malfunctions caused by or otherwise related to the digital wallet or vault you choose to receive and store DIA Tokens, including your own failure to properly maintain or use such digital wallet or vault, may also result in the loss of your DIA Tokens. Additionally, your failure to follow precisely the procedures set forth for buying and receiving DIA Tokens, including, for instance, if you provide the wrong address for the Purchaser Address, or provides an address that is not ERC-20 / ERC 223 compatible, may result in the loss of your DIA Tokens.
The Platform is still under development and may undergo significant changes over time. Although DIA Association intends for the DIA Tokens and Platform to function as described ias of today, and intends to take commercially reasonable steps toward those ends, DIA Association may have to make changes to the specifications of the DIA Tokens or Platform for any number of legitimate reasons. Moreover, DIA Association has no control over how other participants will use the Platform, what products or services will be offered through the Platform by third parties, or how third party products and services will utilize the DIA Tokens (if at all). This could create the risk that the DIA Tokens or the Platform, as further developed and maintained, may not meet your expectations at the time of purchase. Furthermore, despite DIA Association’s good faith efforts to develop and participate in the Platform, it is still possible that the Platform will experience malfunctions or otherwise fail to be adequately developed or maintained, which may negatively impact the Platform and DIA Tokens, and the potential utility of the DIA Tokens, including the utility of the DIA Tokens for obtaining Services.
For this we also aim for your critical feedback, input, development on governance and product.
Hackers or other malicious groups or organizations may attempt to interfere with the Platform or the DIA Tokens 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, because the Platform is based on opensource software, there is a risk that a third party or a member of DIA Association’s team may intentionally or unintentionally introduce weaknesses into the core infrastructure of the Platform, which could negatively affect the Platform and the DIA Tokens, including the utility of the DIA Tokens for obtaining Services. Hackers or other malicious groups of organizations may also attempt to get access to private key(s) or other access credentials in the Wallet or any other wallet, vault, or other storage mechanism used to receive and hold DIA Tokens. As a result, the DIA Tokens may be lost forever.
Excluded Jurisdiction for DIA token distribution:
The United States (including its territories and dependencies, any state of the United States and the District of Columbia), Afghanistan, Cuba, Democratic People’s Republic of Korea, Ethiopia, Guyana, Irak, Iran, Sri Lanka, Sudan, Syria, Trinidad and Tobago, Vanuatu and Yemen.
The regulatory status of the DIA Tokens and distributed ledger technology is unclear or unsettled in many jurisdictions. It is difficult to predict how or whether regulatory agencies may apply existing regulation with respect to such technology and its applications, including the Platform and the DIA Tokens. It is likewise difficult to predict how or whether legislatures or regulatory agencies may implement changes to law and regulation affecting distributed ledger technology and its applications, including the Platform and the DIA Tokens. Regulatory actions could negatively impact the Platform and the DIA Tokens in various ways, including, for purposes of illustration only, through a determination that the purchase, offerings and delivery of the DIA Tokens constitutes unlawful activity or that the DIA Tokens are a regulated instrument that requires registration or licensing of those instruments or some or all of the parties involved in the purchase, offerings and delivery thereof. DIA Association may cease to offer its services to people in specific jurisdictions 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.
The tax characterization of Tokens is partially uncertain. You must seek your own tax advice in connection with purchasing and holding DIA Tokens, which may result in adverse tax consequences to you, including withholding taxes, income taxes and tax reporting requirements.
It is possible that alternative Platforms could be established that utilize the same open source code and protocol underlying the Platform and attempt to facilitate services that are materially similar to the Services. The Platform may compete with these alternatives, which could negatively impact the Platform and Tokens, including the utility of the Tokens for obtaining Services.
If the value of DIA, DAI, USDC or other coins fluctuates unfavourably during or after the DIA Token offerings, DIA Association’s team may not be able to fund development or may not be able to develop or maintain the Platform in the manner that it intended. In addition to the usual market forces, there are several potential events which could exacerbate the risk of unfavourable fluctuation in the value of DIA, DAI, USDC or other coins, including another DAO-like attack on the Ethereum network, or significant security incidents or market irregularities at one or more of the major digital asset exchanges.
The DIA Tokens are intended to represent a new capability on emerging technology that is not fully proven in use. As the technology matures, new capabilities may dramatically alter the usefulness of the DIA Tokens or the ability to use or sell them. The functionality of the DIA Tokens is complex, will require enhancements and product support over time, and full functionality may take longer than expected. The full functionality of the DIA Tokens is not yet complete and no assurance can be provided of such completion.
Cryptographic tokens such as the DIA Tokens are a new and untested technology. In addition to the risks included in this document, there are other risks associated with your purchase, possession, and use of the Tokens, including unanticipated risks. Such risks may further materialize as unanticipated variations or combinations of the risks discussed in this document.