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Eclipse Fi is currently in the initial development stages and there are a variety of unforeseeable risks. You acknowledge and agree that there are numerous risks associated with acquiring $ECLIP, holding $ECLIP, and using $ECLIP for participation in Eclipse Fi. In the worst scenario, this could lead to the loss of all or part of $ECLIP held. IF YOU DECIDE TO ACQUIRE $ECLIP OR PARTICIPATE IN ECLIPSE FI, YOU EXPRESSLY ACKNOWLEDGE, ACCEPT AND ASSUME THE FOLLOWING RISKS:
The regulatory status of Eclipse Fi, $ECLIP and distributed ledger technology is unclear or unsettled in many jurisdictions. The regulation of digital assets has become a primary target of regulation in all major countries in the world. It is impossible to predict how, when or whether regulatory agencies may apply existing regulations or create new regulations with respect to such technology and its applications, including $ECLIP and/or Eclipse Fi. Regulatory actions could negatively impact $ECLIP and/or Eclipse Fi in various ways. The Company, the Distributor (or their respective affiliates) may cease operations in a jurisdiction 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. After consulting with a wide range of legal advisors to mitigate the legal risks as much as possible, the Company and Distributor have worked with the specialist blockchain department at Jacque Law LLC and obtained a legal opinion on the token distribution, and will be conducting business in accordance with the prevailing market practice.
As at the date hereof, Eclipse Fi is still under development and its design concepts, consensus mechanisms, algorithms, codes, and other technical details and parameters may be constantly and frequently updated and changed. Although this material contains the most current information relating to Eclipse Fi, it is not absolutely complete and may still be adjusted and updated by the Eclipse Fi team from time to time. The Eclipse Fi team has neither the ability nor obligation to keep holders of $ECLIP informed of every detail (including development progress and expected milestones) regarding the project to develop Eclipse Fi, hence insufficient information disclosure is inevitable and reasonable.
Various types of decentralised applications, games and networks are emerging at a rapid rate, and the industry is increasingly competitive. It is possible that alternative networks could be established that utilise the same or similar code and protocol underlying $ECLIP and/or Eclipse Fi and attempt to re-create similar facilities. Eclipse Fi may be required to compete with these alternative networks, which could negatively impact $ECLIP and/or Eclipse Fi.
There is the risk that the development of Eclipse Fi will not be executed or implemented as planned, for a variety of reasons, including without limitation the event of a decline in the prices of any digital asset, virtual currency or $ECLIP, unforeseen technical difficulties, and shortage of development funds for activities.
Hackers or other malicious groups or organisations may attempt to interfere with $ECLIP and/or Eclipse Fi 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, there is a risk that a third party or a member of the Company, the Distributor or their respective affiliates may intentionally or unintentionally introduce weaknesses into the core infrastructure of $ECLIP and/or Eclipse Fi, which could negatively affect $ECLIP and/or Eclipse Fi. Further, the future of cryptography and security innovations are highly unpredictable and advances in cryptography, or technical advances (including without limitation development of quantum computing), could present unknown risks to $ECLIP and/or Eclipse Fi by rendering ineffective the cryptographic consensus mechanism that underpins that blockchain protocol.
Start-up companies such as the Company, the Distributor or their affiliates involve a high degree of risk. Financial and operating risks confronting start-up companies are significant, and the aforementioned entities are not immune to these. Start-up companies often experience unexpected problems in the areas of product development, marketing, financing, and general management, among others, which frequently cannot be solved. It is possible that, due to any number of reasons, including, but not limited to, an unfavourable fluctuation in the value of cryptographic and fiat currencies, decrease in the utility of $ECLIP due to negative adoption of Eclipse Fi, the failure of commercial relationships, or intellectual property ownership related challenges, Eclipse Fi may no longer be viable to operate and the Company, the Distributor or their affiliates may be dissolved.
In addition, the potential risks briefly mentioned above are not exhaustive and there are other risks (as more particularly set out in the Terms and Conditions) associated with your participation in Eclipse Fi, as well as acquisition of, holding and use of $ECLIP, including those that the Company or the Distributor cannot anticipate. Such risks may further materialise as unanticipated variations or combinations of the aforementioned risks. You should conduct full due diligence on the Company, the Distributor, their respective affiliates, and the Eclipse Fi team, as well as understand the overall framework, mission and vision for Eclipse Fi prior to participating in the same and/or acquiring $ECLIP.