Legal

Nature of the Token "ONE" tokens

The Token "ONE" tokens are issued as utility tokens and are to be used and accepted solely to take part in the "ONE" experiment, whereby Token "ONE" tokens holders may receive future random airdrops by virtue of holding Token "ONE" tokens.

A Token "ONE" token does not represent any right, claim or asset and is not a security or financial instrument:

Token "ONE" tokens do not constitute securities or financial instruments within the meaning of the EU Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 relating to markets in financial instruments, or any similar laws in any other jurisdiction. Token "ONE" tokens confer no direct or indirect right to or claim derived from the Token "ONE" issuer’s capital or income, nor do they confer any governance right within the Token "ONE" issuer. Token "ONE" tokens serve no investment purpose.

A Token "ONE" token is not a payment token or an electronic currency:

Token "ONE" tokens do not, and are not intended to, serve as payment tokens and may not, now or in the future, be accepted by the Token "ONE" issuer (or any other third party) as a means of payment or as a means of money or value transfer. Further, Token "ONE" tokens do not represent a claim on the issuer which is issued on receipt of funds for the purpose of making payment transactions and Token "ONE" tokens are not accepted outside the "ONE" tokens perpetual airdrop system. Token "ONE" tokens are not electronic currencies within the meaning of EU Directive 2009/110/EC of the European Parliament and of the Council of 16 September 2009 relating to access to and pursuit of the business of electronic currency institutions and the Token "ONE" issuer is not a payment service provider within the meaning of EU Directive N° 2015/2366 of the European Parliament and of the Council of 25 November 2015 on payment services in the internal market, or any similar laws of any other jurisdiction. The sole utility of a Token "ONE" token is to participate in airdrops by virtue of holding the Token "ONE" tokens.

The Token "ONE" issuer does not operate a game or lottery, as may be defined under the laws of Costa Rica and/or any other jurisdiction. Participation in the initial airdrop is purely voluntary and not subject to any obligation by the applicant to pay any amounts as part of the application or to enter into an agreement to purchase or sell anything.

The Token "ONE" issuer is neither subject to the supervision of any financial markets, gaming or other authority in Costa Rica or in any other jurisdiction.

Disclaimer of Liability

To the maximum extent permitted by applicable laws, regulations, and rules, neither the Token "ONE" issuer nor any of its members, directors, consultants, agents, or professional advisers shall have any liability whatsoever (including for damages, losses, liabilities, costs or expenses of any kind, whether direct or indirect consequential, compensatory, incidental, actual, exemplary, punitive or special) towards initial airdrop applicants and Token "ONE" tokens holders. Neither the Token "ONE" issuer, any of its team members who have worked, in any way, on the experiment to develop the airdrop tokens, nor any service provider shall be liable for any kind of direct or indirect damage or loss whatsoever which you may suffer in connection with accessing this whitepaper, the website at perpetualairdrop.com or any other websites or materials published by the Token "ONE" issuer.

Indemnification

Token "ONE" tokens holders agree to indemnify, defend, and hold the Token "ONE" issuer harmless from any and all claims, damages, liabilities, costs, and expenses (including reasonable attorneys' fees and costs), arising from or relating to the "ONE" experiment, and in particular as a result of any breach by any such holder of their representations and warranties.

Representations and Warranties

The Token "ONE" issuer does not make or purport to make, and hereby disclaims, any representation, warranty or undertaking in any form whatsoever to any person or entity, including any representation, warranty or undertaking in relation to the accuracy and completeness of any information set out in this whitepaper and on the website at perpetualairdrop.com.

By receiving and/or holding Token "ONE" tokens, each Initial Airdrop applicant and subsequent Token "ONE" tokens holder represents and warrants that it is:

agreeing and acknowledging that the Token "ONE" tokens do not constitute securities, financial instruments, financial products, means of payment, investments, claims, rights or other assets in any form in any jurisdiction.
agreeing and acknowledging that no regulatory authority has examined or approved any of the information set out in this whitepaper, and that no such action has been or will be taken under the laws, regulatory requirements, or rules of any jurisdiction;
agreeing and understanding that receiving and/or holding Token "ONE" tokens does not imply any elements of a contractual relationship or binding legal obligation, and that participation in the "ONE" experiment is purely voluntary and not subject to any obligation to pay any amounts or to enter into an agreement to purchase or sell anything;
receiving and/or holding the Token "ONE" tokens for own account;
agreeing to hold Token "ONE" tokens at its own risk;
at least 18 years old and has the enjoyment of its civil rights;
not a citizen or resident (tax or otherwise) or green card holder of the United States of America, or a citizen or resident of China, the Republic of South Africa or Cayman Islands;
not a person under sanctions enacted In Switzerland, the United Nations, the European Union or In the United States of America;
not, and never has been, convicted of any crime;
solely responsible for acquiring professional (legal, financial, tax or similar) advice in the relevant jurisdictions;
having a basic degree of understanding of the operation, functionality, usage, storage, transmission mechanisms and other material characteristics of blockchain-based tokens (such as Ethereum ERC-20 tokens, wallets or other related token storage mechanisms, blockchain technology and smart contract technology;
not using Token "ONE" tokens for any illegal purpose;
understanding that there is no warranty, guarantee, or liability with regards to Token "ONE" tokens, express or implied, to the extent permitted by law;
and
complying with local, state, and national laws and regulations where receiving and/or holding Token "ONE" tokens.

Amendments and notices

The Token "ONE" issuer may amend this whitepaper and the terms and conditions contained herein in its reasonable discretion from time to time. Any changes to the whitepaper and the terms and conditions contained herein will be communicated on the website at perpetualairdrop.com.

All notices relating to the Token "ONE" issuer and amendments to this white paper, or the terms and conditions contained herein shall be published on the website at perpetualairdrop.com. Such notices shall be deemed to have been given on the date on which they are first published.

Risk Factors

Receiving and/or acquiring Token "ONE" tokens and storing them involves various risks. Therefore, and prior to receiving and/or acquiring Token "ONE" tokens, any user should carefully consider the risks, costs, and benefits of receiving and/or acquiring Token "ONE" tokens in the context of the present experiment and obtain any independent advice in this regard.

Prospective participants should ensure that they fully understand the nature of the Token "ONE" tokens and the extent of their exposure to risks associated with the Token "ONE" tokens.

By receiving, holding or using any Token "ONE" tokens, you expressly acknowledge and assume the following potential risks and liabilities associated with the use of Token "ONE" tokens:

Risk of losing access to Token "ONE" tokens

A private key, or a combination of private keys, is necessary to control and dispose of Token "ONE" tokens stored in your digital wallet. Accordingly, loss of requisite private key(s) associated with your digital wallet or vault storing Token "ONE" tokens will result in the loss of such Token "ONE" 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 Token "ONE" tokens. Any errors or malfunctions caused by or otherwise related to the digital wallet chosen to receive and store Token "ONE" tokens, including your own failure to properly maintain such digital wallet, may also result in the loss of Token "ONE" tokens. Additionally, failure to follow precisely the procedures set forth for receiving or claiming Token "ONE" tokens, including, for Instance, If you provide the wrong address to receive Token "ONE" tokens, or provide an address that Is not ERC-20 compatible, may also result In the loss of the Token "ONE" tokens.

Risks associated with the Ethereum protocol

Token "ONE" tokens are based on the Ethereum protocol. Therefore, any malfunction, unplanned function, or unexpected operation of the Ethereum protocol may cause Token "ONE" tokens to malfunction or operate in a way that is not expected.

For more information on the Ethereum protocol, see http://www.ethereum.org

Risks associated with the Chainlink’s VRF V2.5 technology.

Chainlink VRF (Verifiable Random Function) uses verifiable random functions to generate randomness that is verifiable on-chain. Chainlink VRF ensures that smart contract access randomness without compromising on security, by generating a random number upon every request for randomness with cryptographic proof of the number generation. While the Token "ONE" issuer follows Chainlink's security recommendations, there is a risk that miners or validators manipulate randomness generation.

Legal risk and risk of adverse regulatory intervention in one or more jurisdictions

The Token "ONE" tokens may be impacted by the passing of restrictive laws, the publication of restrictive or negative opinions, the issuing of injunctions by national regulators, the initiation of regulatory actions or investigations, including but not limited to restrictions on the use or ownership of digital tokens such as the Token "ONE" tokens, which may prevent or limit development of the "ONE" experiment.

Given the lack of token qualifications in most countries, each holder is strongly advised to carry out a legal and tax analysis concerning the purchase and ownership of the Token "ONE" tokens according to their nationality and place of residence, knowing that the people eligible to receive (as an airdrop) and/or acquire Token "ONE" tokens are limited as mentioned above in section "III. Persons eligible: who can hold Token "ONE"?".

Risk of hacking and security weaknesses

Hackers or other malicious or criminal groups or organizations may attempt to interfere with the availability of the Token "ONE" tokens in several ways including, but not limited to, denial of service attacks, Sybil attacks, mystification, surfing, malware attacks, or consensus-based attacks.

Risk of security weaknesses in the "ONE" system’s core infrastructure software

The "ONE"'s core software is based on open-source code. There is a risk that the Token "ONE" issuer, or other third parties, may intentionally or unintentionally introduce weaknesses or bugs into the core infrastructure elements of the "ONE" experiment, by interfering with the use of, or causing loss of, Token "ONE" tokens.

Risk relating to public data

Token "ONE" tokens holders should be aware that the holding of Tokens "ONE" tokens is registered in the Ethereum blockchain and may be visible to the public. The Ethereum blockchain is neither the property nor under control of the Token "ONE" issuer or any other party related to Tokens "ONE" tokens. Information available on the Ethereum blockchain may be exploited or miss-used in, as of today, unforeseen ways.

Risk of weakness or exploitable breakthrough in the field of cryptography

Advances in cryptography, or technical advances such as the development of quantum computers, may present risks, which could result in the theft or loss of the Token "ONE" tokens.

Risk of a Token "ONE" token mining attack

As with other decentralized cryptographic tokens based on the Ethereum protocol, the blockchain used for the "ONE" experiment is vulnerable to mining attacks, including but not limited to, dual-expense attacks, powerful mining attacks, selfish mining attacks, and critical competition attacks. Any successful attack poses a risk to the "ONE" experiment, the expected performance and sequencing of markets, and the expected performance and sequencing of Ethereum contract calculations. Despite the best efforts of the Token "ONE" issuer, the risk of known or new mining attacks exists.

Risk of a tight market for Token "ONE" tokens

There are currently no exchanges or trading facilities on which the Token "ONE" tokens can be traded. If such exchanges or trading facilities do develop, they will probably be relatively new and subject to poorly understood regulatory oversight. They may therefore be more vulnerable to fraud and default than the established and regulated exchanges that exist for financial instruments. Should exchanges or trading facilities that represent a substantial part of the Token "ONE" tokens trading volume be involved in fraud, security failures or other operational problems, the failures of such exchanges or trading facilities may limit the Token "ONE" tokens value or liquidity.

Risk of an uninsured loss

Unlike bank accounts or accounts in other regulated financial institutions, funds held through the Ethereum network are generally uninsured. At present, there are no public or private insurance agents providing acquirers with coverage against a loss of Token "ONE" tokens or a loss of value.

Risk of winding-up of the Token "ONE" issuer experiment

There is a risk that, due to any reason, the Token "ONE" issuer experiment may no longer be a viable activity and may be dissolved or simply not launched.

Risks associated with uncertain regulations and enforcement actions

The regulatory status of the Token "ONE" tokens and distributed ledger technology is unclear and unsettled in many jurisdictions. It is difficult to predict how or whether regulatory authorities may apply existing regulation with respect to such technology and its applications, including the "ONE" experiment and its Token "ONE" tokens. It is likewise difficult to predict how or whether legislatures or regulatory authorities may implement changes to law and regulation affecting distributed ledger technology and its applications, including the "ONE" experiment and its Token "ONE" tokens.

Risks arising from taxation

Token "ONE" tokens holders must seek their own tax advice in connection with the receipt of Token "ONE" tokens, which may result in adverse tax consequences to Token "ONE" tokens holders, including withholding taxes, income taxes and tax reporting requirements. The Token "ONE" issuer is not responsible for collecting taxes from Token "ONE" tokens holders, for making any payments on behalf of the Token "ONE" tokens holders, or for providing any professional advice relating to tax.

Unforeseen risks

Token-currencies and cryptographic tokens are a new, untested technology. In addition to the risks stipulated above, there are other risks that the Token "ONE" issuer team cannot predict. Risks may also occur as unanticipated combinations or as changes in the risks stipulated herein.

Governing Law and Arbitration

This whitepaper and the terms and conditions contained herein shall be governed by and construed in accordance with the laws of Costa Rica.

Any dispute, controversy or claim arising out of, or in relation to the Token "ONE" tokens issuance, the Token "ONE" tokens, the content of this whitepaper and any associated documents and material, shall be resolved by arbitration in accordance with the Swiss Rules of International Arbitration of the Swiss Arbitration Centre in force on the date on which the Notice of Arbitration is submitted in accordance with these Rules. The arbitration panel shall consist of one arbitrator only. The seat of the arbitration shall be San José, Costa Rica. The arbitral proceedings shall be conducted in English.

Perpetual Airdrop Experiment S.R.L.
(acting as the Token "One" issuer)
CLS Business Center
9 floor Sabana
San José, 10108 Costa Rica

Legal

PERPETUAL AIRDROP