Agreement Token

The speed at which cryptocurrencies have grown has far exceeded the speed at which regulators have tackled legal issues. It wasn`t until 2017 that the Securities and Exchange Commission (SEC) provided essential guidance as to when the sale of an initial coin offering (ICO) or other tokens is considered the sale of a security. When a company sells a SAFT to an investor, it accepts that investor`s money, sells, offers, or exchanges coins or tokens. Instead, the investor receives documents attesting that the investor has access to the creation of a cryptocurrency or other product. (VII) The buyer has extensive experience and understanding of the use and intricacies of crypto tokens and blockchain-based software systems. This token sale agreement (the „Contract“) is an agreement between A SAFT differs from a simple Future Equity Agreement (SAFE) that allows investors who invest money in a startup to convert that share into equity at a later date. Developers use funds from the sale of SAFT to develop the network and technology needed to create a functional token, and then make those tokens available to investors expecting there to be a market where these tokens can be sold. (IX) Buyer is solely responsible for the loss of Buyer`s registration data on behalf of Diamond Network Platform and the Buyer`s Wallet Private Key. (III) The Company is not required to recover Diamond Platform Tokens. Jeken Diamond Platform purchases are non-refundable. The buyer may lose all amounts paid.

Buyers and companies are individually referred to as the „party“ and together the „parties“ have entered into the agreement: (V) Ownership of tokens has no explicit or implied rights, except the right to use such tokens as a means of use and interaction with the Platform. A SAFT is a form of investment contract. They were created to help new cryptocurrency companies raise funds without violating financial rules, especially the rules governing when an investment is considered a security. (II) Buyer is subject to and is bound by this Agreement due to Buyer`s purchase of tokens. (VIII) The Company is not responsible for lost Diamond Platform tokens or cryptocurrency resulting from actions taken or not taken by buyers. A simple agreement for future tokens (SAFT) is an investment contract offered by investors accredited by cryptocurrency developers. It is considered a security and must therefore comply with securities rules. Obtaining funds through the sale of digital currency requires more than building a blockchain. Investors want to know what they have embarked on, that the currency is viable and that it is legally protected. While a company that collects money through cryptocurrency could circumvent the use of a formal framework to set up global financial markets, it must comply with international, federal, and state laws. One of the ways to do this is by using Simple Agreement for Future Tokens or SAFT. Since cryptocurrency developers are probably not familiar with securities law and may not have access to financial and legal advice, it can be easy for them to conflict with the rules.

The development of SAFT creates a simple and inexpensive framework for new businesses to raise funds while remaining compliant with the law. Since a SAFT is a non-debt financed financial instrument, investors who buy a SAFT face the possibility that they will lose their money and not resort in the event of the company`s failure. The document only allows investors to take a financial stake in the company, which means that investors are exposed to the same business risk as if they had bought a SAFE. (VI) The Tokens do not represent any ownership rights, shares or guarantees, or equivalent rights, or the right to obtain future income, shares, dividends or participation in the administration, intellectual property rights or any other form of participation in the Platform and/or the Company (with the exception of participation in the DiamondNetwork Platform, as described in clause 2.4 of the Agreement). . . .