Knowledge Base   /   Governing Policies

Disclaimer

Posted on 02 May 2022 07:55 am

The information provided on the Inddais website, the Farming platform, and the Inddais Help Centre or Whitepaper does not make up investment advice, financial advice, trading advice, or any other sort of advice and you should treat none of the website's content as one. Inddais, the Inddais Crypto Limited and its development team do not insist you to buy, sell or hold any cryptocurrency. Do conduct your own due diligence and consult your financial advisor before making any investment decisions. By purchasing INIS, you agree you are not purchasing a security or investment and you agree to hold the team harmless and not liable for any losses or taxes you may incur. You also agree that the team is presenting the token "as is" and is not required or obligated to provide any support or services. You should have no expectation of any form from Inddais and its team. Although Inddais is a community driven DeFi (Decentralized Finance) token and not a registered digital currency, the team strongly recommends that citizens in areas with government bans on Crypto do not purchase it because the team cannot ensure compliance with your territory’s regulations. Always make sure that you comply with your local laws and regulations before you make any purchase.

Using the Inddais Website, the Inddais Farming Portal, or interacting with any of the Inddais Smart Contracts on the Blockchain means you agree with the Terms of Service as stated on our website.

RISK DISCLOSURE

Please note there are always risks associated with smart contracts. Please buy, seed, or sell at your own risk. Inddais, the INIS Token, and the Inddais Crypto Limited is not a registered broker, analyst or investment advisor. Everything that Inddais provides on this site is purely for guidance, theoretical, informational, and educational purposes.  You should independently verify and confirm all information contained. We do not accept any liability for any loss or damage caused by reliance upon such information or services. Please be aware of the risks involved with any trading done in any financial market. Do not trade with money that you cannot afford to lose. When in doubt, you should always consult a qualified financial advisor before making any investment decisions.

USING AND INTERACTING WITH INDDAIS

It is important for all investors to understand that Inddais is not a security. When Inddais talks about the "coins" or "tokens" that investors can purchase, there are no physical coins with inherent monetary value. They exist purely as numbers held in a distributed worldwide database. They give nothing tangible or a representation of a tangible item to any person. Anyone can execute the code that comprises the Inddais Smart Contract on their own as an individual and that, in its essence, changes a set of numbers in a counter on a database. 

The Inddais Smart Contract code can only edit these specific values on the distributed database by valid key holders who have allowed and signed a cryptographic message. Any person can run a different code that changes different variables on a database if they like. Interacting with the Inddais Smart Contract only edits a specific series of values in this distributed database, while other code edits other values on the same database that is not affiliated with Inddais.

Inddais does not promote or use a common enterprise. Each person is an individual investor that interacts with the Inddais Smart Contract individually, representing their own interests. There shall be no expectation of efforts of a promoter or third party to generate profits. There is no expectation of profit from the work of others. Individual investors pay the Binance Smart Chain network to execute the code of their choice individually. It saves the results of this executed code in immutable blocks that exist on the Binance blockchain, a distributed ledger of information comprising unique blocks, which stores the results of the transactions executed by individuals. The results stored in each block are inherently unchangeable numbers existing on the Internet. The code cannot do anything on its own, other than change numbers in this internet database. Anyone can choose to run this code, or not. The numbers on the database won't change if someone doesn't run the code. If someone runs this code but then never runs the code again, it will not change the database. If someone runs this code regularly, then the result in the database will only change as the code allows and will then remain unchanged until the code that interacts with this specific database runs again. The code and the numbers on the database that it modifies have no inherent value, financial or otherwise.

Individual investors generate their own cryptographic keys to validate that they can add or change the values on the database that are unique to them and to them alone. Inddais does not generate unique keys for investors to use or hand out these kinds of keys. A person is wholly responsible for their own keys, and the code that they ran that changes values associated with their unique keys.

When Inddais offers bonuses or incentives, they do not take, remove, or change anyone's database values. We generate the bonuses through the Smart Contract Code that adds or subtracts database values based on the underlying math associated with a bonus or incentive. These bonuses or incentives do not hold any value, other than the proportion to which the code changes the individual's database values. Each person can choose whether to execute the code associated with the bonus or incentive individually. The smart contract does not edit value automatically.

Cryptocurrencies, the Binance Smart Chain Blockchain, and its Smart Contracts are complex. The code that comprises the network, and the Smart Contracts that are executed within it, are compilations of decades of work in computer science, mathematics, economics, cryptography, and more. It can be incredibly difficult for an individual to understand the nuances of cryptocurrencies and why and how they work. It is, however, important to understand the risks associated with executing code on the network. We advise all users to do their own research in order to maintain a healthy and well-grounded approach to cryptocurrencies and how they run and operate.

It is important to understand that any person who interacts with cryptocurrencies is acting as an individual and maintaining entire responsibility for what they do on the network. The great freedoms offered by cryptocurrencies can also be its greatest weakness, in the sense that all users are acting on their own, and wholly responsible for all transactions, interactions, and executed code they choose to operate. With great freedom comes great responsibility, and each person assumes this responsibility wholeheartedly whenever they interact with cryptocurrencies.

In all technologies, especially innovative internet technologies like cryptocurrencies, there is a risk of total failure, however small and remote it might be. Designing and developing software to run on computers is a laborious task. Designing software to run on a decentralized global network is many orders of magnitude more difficult. There is a natural level of operating within great unknowns that are a part of any new technology. Many developers who build code to be run on the network may not fully understand the core infrastructure that allows their software to run, in the same way that a driver of a car does not understand the inner workings of the combustion engine when they drive. There are opportunities, as remote as they might be, for potential exploits or points of failure that no one has thought of or designed around yet. Core components of cryptocurrencies, such as the cryptographic security that forms the underlying foundation of the network, seem unlikely to be broken. But they found if ever an exploit, then it is highly likely that everything will completely break. There will be no support desk or government organization to recover the lost. This is another one of the inherent risks that any person assumes when they invest in cryptocurrencies.

An individual can choose to run the code that edits the database on their own machine or pay someone else to run the code for them. The choice of the code is entirely up to the individual. The individual pays a fee as BNB for the code to be run, and the code they pulled from the Contract Address, which is a series of unique numbers and letters that points to the location of the database editing software. From this Contract Address, the software loads and then gets executed, and the individual pay the cost for running this software to the code validators on the network as Gas, measured in Gwei, a fraction of Binance Coin (BNB).

Inddais does not transfer coins from one wallet address to another whenever you interact with the Smart Contract. The common term for transferring coins from one wallet to another is ‘AirDrop'. Individuals get their own tokens whenever they interact with Inddais's Smart Contracts as buyer. When you buy Inddais, you convert BNB into INIS, and then later seed the amount of INIS tokens equal or less to your INIS balance into a farming contract to receive BNB stored in the vault contract. The code you chose to run does this by adjusting the calculations when you interact with Inddais's smart contracts.

INDDAIS AND BOTS

If you use a Smart Contract that operates a front running, arbitrage, or automatic purchasing utility to buy, sell, or seed INIS tokens, you may be subject to the loss of your ability to trade INIS, including the loss of the INIS itself. Inddais does not offer support to anyone using any such Smart Contracts. You assume the full risk and liability whenever you use any third-party Smart Contract within the Inddais Ecosystem.

IS INDDAIS A SECURITY?

A Security, as defined by Investopedia, is:

The term "security" refers to a fungible, negotiable financial instrument that holds some type of monetary value. It represents an ownership position in a publicly traded corporation via stock; a creditor relationship with a governmental body or a corporation represented by owning that entity's bond; or rights to ownership as represented by an option.

Securities are determined by the Howey Test, a test that defines what U.S. Federal Securities Laws apply to, administered by the SEC. Under current interpretations of the Howey Test, while we call the process as seeing, the common term used is Staking. And staking cryptocurrencies like Inddais are exempt from consideration as securities.

For an in-depth breakdown, here is an excellent writeup from the Blockchain Association:

https://blockchainassoc.medium.com/securities-law-considerations-for-staking-services-3afc00005953

When you interact with Inddais, you, as an investor, must have no expectation of any benefit, be it financial or otherwise, from any BNB sent to the Inddais contract, or any INIS that your origin address receives. You must have no expectation of profit or reliance on the efforts of others. As explained above, INIS is purely a piece of inert computer code at a contract address on the Binance Smart Chain network. It can do absolutely nothing on its own. Every single INIS token that existed, currently exists, or will exist in the future, cause to exist by a person creating it themselves as per the rules of the code that is executed by that person at the Inddais Contract Address. You can buy this INIS yourself or by paying BNB to an existing INIS holder.

Only you can buy your own INIS by running the Code found at the Contract Address, and only you can stake or seed your INIS by running the Farming Code found at the Contract Address, as it requires the private key you generated when you created your Binance wallet. All seeded INIS token unlocks a certain portion of BNB stored in the contract, and upon completion of the farm season, only you can harvest the BNB yield when you run the Harvest Code found at the Contract Address. You, as an individual, perform all the work required to interact with INIS on your own, with no help or control by the Inddais team.

Wherever possible, you agree there is no investment in money. You are just running computer code. Wherever possible, you agree there is no common enterprise. You are just running computer code on your own. There is no inherent financial value in Inddais or its computer code, and you agree Inddais implies or guarantees no past, current, or future financial value. Therefore, there is no guarantee of any market conditions that would allow you to exchange your numbers in a database for numbers in another database at a favourable rate or valuation.

Cryptocurrencies are extremely volatile, based entirely on speculation, sentiment, and one's own personal valuation. Bitcoin, the largest cryptocurrency in the world, has had many times where its valuation tumbled significantly, losing up to 94% of its valuation over days or months- they considered all while Bitcoin the most stable and oldest cryptocurrency. All cryptos experience this high volatility, with valuations plunging or rising hourly. Some cryptos recover and experience exponential growth, but many fade into nothingness, with their users holding millions, billions, or trillions of those tokens that have absolutely no inherent value.

Inddais pledges to do everything in its power to reduce volatility, provide long-term stable growth, create a safe place for enthusiasts and investors, and make seeding, holding, and owning INIS a rewarding experience.