Tokens Sale-Market problems & risks
Fundraising mechanisms such as token sales are becoming more popular and many startups, companies and founders are considering doing this. With the funds from the token sale, the teams can implement their visions and projects. In most cases, the topic of blockchain, cryptocurrency and smart contacts is in the foreground. With the help of this new technology, our common future should in some ways be better, safer, simpler, faster, more anonymous and, above all, decentralized.
However, this new method of fundraising is not subject to any real guidelines or regulations. Such methods, some of which are unregulated, also create many fraudulent campaigns. After the token sale, projects are not realized or the companies or the founders disappear from the scene. Essentially, the token sale participants are cheated out of their money. Therefore, it is particularly important to make a token sale as secure and transparent as possible.
In addition, almost all startups, companies and founders often face further problems in carrying out a token sale. Currently there are no standard solutions for token sales. In fact, almost everything needs to be developed from scratch for the project, from the landing page to the customized backend area. The smart contracts or tokenizing, which requires special experience in the field of development, is very complex. Even with advertising campaigns, the team often cannot rely on standard solutions. As a result, many potential supporters only find out by chance about the token sale. Efforts to prepare a token sale inevitably lead to a doubling of time and resources.
Participation in the token sale is often problematic when companies accept only cryptocurrency rather than several different FIAT currencies. This affects especially companies and participants, who do not yet have a cryptocurrency in their own wallet or at least an active account, on an exchange that offers the purchase of cryptocurrency. Logging on to such exchanges often leads to longer and more complicated verification processes. And at this stage, further risks can still arise from the token sale. These are described in detail in the next chapter disclaimer.
Please read the following notice carefully before proceeding to read this white paper issued by Jibbit GmbH (hereinafter “Jibbit”), a limited liability company incorporated, and existing, under the laws of Germany. This notice applies to all persons who read this document. Please note this notice may be altered or updated. The white paper does not constitute any relationship between the prospective holder and Jibbit. Acquiring of the JIB tokens is available only after accepting the Terms & Conditions (hereinafter “T&C”). Acquisition of JIB tokens does not present an exchange of cryptocurrencies for any form of shares of Jibbit and holders of JIB tokens are not entitled to any guaranteed form of dividend; holders of JIB tokens are only entitled to certain rights within the T&C. JIB tokens are functional utility tokens within the Jibbit Marketplace platform. JIB tokens are sold as functional goods and all proceeds received by Jibbit may be spent freely by Jibbit without any conditions. JIB tokens are intended for experts in dealing with cryptographic tokens and blockchain-based software systems.
JIB tokens are not intended to constitute securities, in any jurisdiction. This white paper does not constitute a prospectus or offer document of any sort, and is not intended to constitute an offer of securities or a solicitation for investments in securities, in any jurisdiction. This white paper is for information purposes only. The contents of this white paper are not a financial promotion. Therefore, none of the contents of this white paper serves as an invitation or inducement to engage in any sort of investment activity.
Prospective acquirers of JIB tokens should carefully consider and evaluate all risks and uncertainties associated with cryptocurrencies, Jibbit GmbH and their respective businesses and operations, the JIB tokens and the JIB token sale. Potential holders must familiarize themselves with all the information set out in this white paper and the T&C prior to any purchase of JIB tokens. Ensure that you are aware of all of the would-be risks prior to obtaining JIB. The Risk Statement details all potential risks that you should consider. We recommend that you seek out independent financial advice before engaging in any sort of business endeavor.
Jibbit places a high priority on remaining fully compliant with all relevant laws in its home jurisdiction, Germany, and internationally. Jibbit discusses with the BaFin, the German Financial Supervisory Authority, to validate the Jibbit Token Sale as a legally compliant token instrument.
Additionally, Jibbit is engaging a tax advisor to perform tax work to ensure full compliance from a tax perspective. The Jibbit team and its legal advisors continually review all potential legal risks associated with the JIB token sale, and will always ensure full compliance.
To the maximum extent permitted by the applicable laws, regulations and rules, Jibbit and their respective officers, employees or agents will, in relation to the JIB tokens, not be liable for any damages of any kind, including, but not limited to, direct, consequential, incidental, special or indirect damages (including but not limited to lost profits, loss of revenue or third party loss, whether foreseeable or otherwise, trading losses or damages that result from use or loss of use of the JIB tokens). For the avoidance of doubt, Jibbit expressly disclaims any and all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from: (i) reliance on any information contained in this document, (ii) any error, omission or inaccuracy in any such information, (iii) any action resulting therefrom, or (iv) usage or acquisition of products, available through its website. The prospective holders acknowledge and agree that they are not purchasing JIB tokens for purposes of investment, speculation, as some type of arbitrage strategy, for immediate resale or other financial purposes.
Some of the statements in the white paper include forward-looking statements, which reflect Jibbit’s current views with respect to execution roadmap, financial performance, business strategy and future plans, both with respect to Jibbit and the sectors and industries in which the distributor operates. Statements which include the words ‚‘expects’, ‘plans’‚ ‘believes’, ‘projects’, ‘anticipates’, ‘will’, ‘aims’, ‘may’, ‘would’, ‘could’, ‘continue’ and similar statements are of a future or forward-looking nature. All forward-looking statements address matters that involve risks and uncertainties. Accordingly, there are or will be important factors that could cause Jibbit’s actual results to differ materially from those indicated in these statements.
Any forward-looking statements in the white paper reflect Jibbit’s current views with respect to future events and are subject to these and other risks, uncertainties and assumptions relating to the Jibbit’s operations, results of operations and the growth strategy. These forward-looking statements speak only as of the date of the white paper. Prospective buyers of the JIB tokens should specifically consider the factors identified in the white paper and T&C which could cause actual results to differ before making a purchase decision. No statement in the white paper is intended as a profit forecast and no statement in the white paper should be interpreted to mean that the earnings of Jibbit for the current or future years would be as may be implied in this white paper.
The national and international regulatory framework of blockchain and distributed ledger technology, in general and related applications, is in the process of being clarified and might change. It is possible that the interpretation and application of existing laws and regulations may be amended or adapted and could also be subject to legislative initiatives at national and international level. Clarification of and changes to the regulatory framework could adversely affect the JIB tokens without us having any influence on such developments.
This includes, in particular, the risk that acquired JIB tokens may not, or may no longer, be usable as originally envisaged due to regulatory restrictions, may become unusable and / or the Jibbit Marketplace platform may need to be adapted to the regulatory environment.
This white paper, or any part thereof, as well as any copies, must not be taken or transmitted to any country where distribution or dissemination of this white paper is prohibited or restricted.
Risks of Ethereum blockchain
Smart contract technology is still in its early stages of development, and its application is of an experimental nature. This may carry significant operational, technological, regulatory, reputational and financial risks. Thesmart contracts executed on the Ethereum blockchain may not be fit for purpose or they may contain flaws, vulnerabilities or issues which could cause technical problems or the complete loss of JIB tokens.
Legal nature of the JIB and this white paper
JIB shall not represent any securities or other investment products in any legal order. You are not granted anyrights to any company, voting rights, dividends, interest payments, profit sharing or any other remuneration for the provision of capital. Jibbit will use the proceeds from the sale of the JIB to implement the business model described in this white paper. JIB cannot be redeemed at Jibbit against legal tender.
This white paper is not a sales prospectus. It is not intended to justify an offer for sale or an invitation to buy or subscription to JIB in general, and for securities or other forms of investment products in particular. This whitepaper is also not a solicitation for investing in securities or other investment products. This white paper, parts and copies, may not be brought or sent to a country in which the dissemination of this white paper is prohibited.
No assurances and warranties
Jibbit does not provide any assurances or warranties in this white paper. This refers in particular to the accuracy and completeness of the information provided in this white paper. The only legally binding contracts are the T&C.
Jibbit’s performance may be interrupted, suspended or delayed due to force majeure circumstances. For the purposes of this white paper, force majeure shall mean extraordinary events and circumstances, which could not be prevented by Jibbit, and shall include: acts of nature, wars, armed conflicts, mass civil disorders, industrial actions, epidemics, lockouts, slowdowns, prolonged shortage or other failures of energy supplies or communication service, acts of municipal, state or federal governmental agencies, other circumstances beyond Jibbit’s control, which were not in existence at the time of the white paper release. If such circumstances occur prior to the issue of JIB tokens and Jibbit is unable to issue JIB tokens within four months from the projected date, a refund of the JIB token may be requested by the purchasers. The costs incurred by Jibbit for the Token Sale will be subtracted from the refund. The refund will be issued in the original form of payment to the same digital wallet or bank account where the funds were transferred from.
This white paper contains partial forward-looking statements based on the current views and assumptions of Jibbit. There is a risk that the actual performance or events will be significantly different. Forward-looking statements are, for example, terms such as ‘target’, ‘expect, ‘believe’, ‘could’, ‘estimate’ ‘expect’, ‘if’, ‘intend’, ‘can’, ‘plan’, ‘possible’, ‘probable’, ‘project’, ‘should’, ‘would’, ‘will’.
This list is not exhaustive, rather, all statements regarding the financial situation, the business model, plans and views of Jibbit and the future prospects of the industry of Jibbit are forward-looking statements. These forward-looking statements, including statements about sales and the winning maintenances of Jibbit, are not facts, only predictions. The forward-looking statements include known and unknown risks, uncertainties, and other factors that may result in actual future outcomes and performance of Jibbit that are significantly different. These uncertainty factors include, among others:
A. Changes in the conditions of the stock or cryptocurrency markets, as well as changes to the regulatory environment in the countries where Jibbit will conduct its business and business activities;
B. The risk that Jibbit may not be able to implement its business models and plans;
C. Changes in interest rate levels and changes in the exchange rates of legal tender and cryptocurrencies;
D. The future development of Jibbit;
E. Changes in customer preferences;
F. Changes in the conditions of competition under which Jibbit operates;
G. Other factors beyond the control of Jibbit.
Jibbit will make true efforts to ensure the successful implementation of their projects. However, there is a risk that Jibbit’s projects will not be implemented for various reasons, in particular due to a lack of sufficient funding or lack of success (e.g. lack of support by sufficiently experienced coders and acceptance and use by the community) before and after the implementation of Jibbit’s projects. If any of Jibbit’s projects are abandoned, this may also result in the dissolution of Jibbit, due to the discontinuation of the business purpose. There are risks from more intense competition and the appearance of competitors. In this context, Jibbit has also to consider the potential non acceptance of our offer by customers.
This white paper contains market and industry information as well as forecasts from internal surveys, reports, studies and publicly available information. Jibbit has considered this information to be reliable, but no guarantee can be given for the correctness or completeness of the information. Jibbit has taken reasonable steps to ensure that the information in this white paper is accurate. However, Jibbit has not carried out an external review of this information, fully verified the accuracy or completeness of this information itself, or determined the underlying assumptions.
Consequently, neither Jibbit, nor persons acting on behalf of Jibbit, give any assurances or warranties as to the accuracy or completeness of this information. Jibbit will not update the above information.
This white paper does not constitute a sales recommendation or a solicitation of a bid to Jibbit for the
purchase of JIB. The information in this white paper does not constitute legal, financial or tax advice regarding Jibbit or the JIB. Any prospective purchaser should consult his or her own legal, financial, tax or other advisors regarding Jibbit and his or her business. Each acquirer bears the financial risk of a purchase of JIB in its own entirety.