# Disclaimers

**Token Disclaimer**: While a Token, by virtue of the P2P-systems architecture, may be "traded" on DEXs (AMMs) and/or other resources by any DAO actor, a Token is not an investment, currency, security, commodity. An exchange of Token is not an exchange of currency, securities and/or commodities and/or any other financial instrument (the process of exchanging such instrument), because the Token is an integral part of the Project, used in good faith by the actors of the Project to achieve an optimum level of transaction costs for those assets used by the actors of the Project through the Protocol and/or the Oracle and/or the Index. The token itself has no price unless it occurs in transactions between buyers and sellers, who are independent in their will and volition.

**Disclosure on smart contracts**: DAO Envelop shall not be liable for any losses (real damages and/or lost profits) arising out of the smart-contracts’ operation of the DAO itself, and/or its constituent elements, and/or other related smart contracts, or the inability to use such as the one applies these technologies “as is”, i.e. through third-party services under various open-source licenses. The same disclaimer applies to the technical conditions of the Token's existence.

**Technology disclaimer in genera**l: DAO accepts no responsibility for the inoperability of the Site and/or the Project, and/or the Protocol, and/or the Oracle, and/or the Index as these technologies are all based on open-source licenses, i.e. are provided “as is”.

**Content disclaimer:** DAO shall not be responsible for any links and/or other materials posted on the Site, the Application and/or even more so on third party resources if such materials (links/content/other) are in any way dependent on a third party (hosting provider, domain name registrar, blog platform administrator, social network administrator, etc.).

**Jurisdiction disclaimer**: The citizens (residents) who may not acquire Token except with permission of the relevant regulator (SEC/MAS/etc.) must apply in writing to the relevant regulator and obtain the same written permission for Token acquisition. Thereafter these citizens (residents) must provide such permission to counterparty for Token transaction, and only after prior consent of counterparty Token may be acquired in free (public) market. The violating party will be automatically recognized by any violation of this condition.

**General disclaimer**: The project operates exclusively as a DAO and is subject only to generally accepted principles and norms of international law, morality and ethics, which means that all disputes and/or disagreements can only be solved by applying the principles of decentralization and openness and exclusively through voluntary proceedings.\
