🚨Notice and Disclaimer

PLEASE READ THE ENTIRETY OF THIS NOTICE AND DISCLAIMER SECTION CAREFULLY. NOTHING HEREIN CONSTITUTES LEGAL, FINANCIAL, BUSINESS OR TAX ADVICE AND YOU SHOULD CONSULT YOUR OWN LEGAL, FINANCIAL, TAX OR OTHER PROFESSIONAL ADVISOR(S) BEFORE ENGAGING IN ANY ACTIVITY IN CONNECTION HEREWITH. NEITHER EDNS FOUNDATION (THE “ISSUER”), ANY MEMBERS OF THE ISSUER OR ITS AFFILIATES (THE “EDNS TEAM”) WHO HAVE WORKED ON THE PROJECT TO DEVELOP THE EDNS PLATFORM (THE “EDNS PLATFORM”) OR THE TOKENS ISSUED BY THE ISSUER (THE “EDNS TOKENS”) (THE ISSUER, ITS AFFILIATES AND THE EDNS TEAM SHALL BE COLLECTIVELY REFERRED TO AS “EDNS”, “WE” OR “US”) IN ANY WAY WHATSOEVER, SHALL BE LIABLE FOR ANY KIND OF DIRECT OR INDIRECT DAMAGE OR LOSS WHATSOEVER WHICH YOU MAY SUFFER IN CONNECTION WITH ACCESSING THIS WHITEPAPER (THIS “WHITEPAPER”), THE WEBSITE AT HTTPS://WWW.EDNS.DOMAINS (THE “SITE”) OR ANY OTHER WEBSITES, APPLICATIONS OR OTHER FUNCTIONS OR MATERIALS PUBLISHED, OFFERED OR MADE AVAILABLE BY THE ISSUER OR ITS AFFILIATES.

PURPOSE: You acknowledge and agree that you acquire the EDNS Tokens for the purpose of participating in the Platform and obtaining access to the services, features and functions offered within the EDNS Platform’s ecosystem developed by the Issuer and its affiliates.

The Issuer is not acting in the capacity as a financial advisor or fiduciary of any person with regard to the sale of the EDNS Tokens (the “EDNS Token Sale”). The EDNS Tokens are designed as utility tokens and are not being structured or sold as securities. The EDNS Tokens do not represent any participation in the Issuer and the EDNS Tokens carry no rights in the Issuer. The EDNS Tokens are sold with an intended future functionality on the EDNS Platform and all proceeds received during the Token Sale may be spent freely by the Issuer on the development of the EDNS Platform and the Issuer’s business.

No promises of future performance or value are or will be made with respect to the EDNS Tokens, including no promise of inherent value and no guarantee that the EDNS Tokens will hold any particular value. Unless prospective participants fully understand and accept the nature of the Issuer’s proposed business and the potential risks inherent in the EDNS Tokens, they should not participate in the EDNS Token Sale.

The Issuer is in the process of undertaking further legal and regulatory analysis of the intended functionality and mechanics of the EDNS Tokens. Following the conclusion of this analysis, we may be required to amend the intended functionality of the EDNS Tokens in order to ensure compliance with any legal or regulatory obligations that may apply to us. We will update this Whitepaper regularly to reflect changes which are made to the functionality of the EDNS Token, but we make no promise or guarantee that such update will be made or that such notice will be posted immediately after such changes to the functionality of the EDNS Token have become necessary or have been made or that the information contained in such updates to this Whitepaper will be accurate, complete and free from errors, inaccuracies or omissions.

The Issuer intends to apply to list the EDNS Tokens on cryptocurrency exchange(s) (the “Exchanges”) after the date of this Whitepaper. We cannot guarantee that the EDNS Tokens will be approved for listing on any of the Exchanges.

NATURE OF WHITEPAPER: This Whitepaper has been prepared by the Issuer and is intended for informational purposes only in relation to the EDNS project (the “EDNS Project”), the EDNS Platform and the EDNS Token Sale. This Whitepaper does not constitute a prospectus, an offer document, an offer of securities, a solicitation for investment, or any offer to sell, nor the solicitation of an offer to buy any product, item or asset (whether digital or otherwise) in any jurisdiction. The EDNS Tokens should not be acquired for speculative or investment purposes with the expectation of making an investment return. No regulatory authority has examined or approved any of the information set out in this Whitepaper. No such action has been or will be taken under the laws, regulatory requirements or rules of any jurisdiction. The publication, distribution or dissemination of this Whitepaper does not imply that applicable laws, regulatory requirements or rules have been complied with. The EDNS Tokens could be impacted by regulatory action, including potential restrictions on the ownership, use, or possession of such tokens. Regulators or other competent authorities may demand that the Issuer revises the mechanics and functionality of the EDNS Tokens to comply with regulatory requirements or other governmental or business obligations. Nevertheless, the Issuer believes that it has taken commercially reasonable steps to ensure that its planned mechanics are proper and in compliance with currently considered regulations.

The information contained in this Whitepaper may not be exhaustive and does not imply or create any element of a contractual relationship. There is no assurance as to the accuracy or completeness of such information, any statements made or conclusions reached in this Whitepaper, and no representation, warranty or undertaking is or purported to be provided as to the accuracy or completeness of such information, statements or conclusions. Further, the Issuer does not make and expressly disclaims all representations and warranties (whether express or implied by statute or otherwise) whatsoever, including but not limited to any representations or warranties that (i) relate to merchantability, fitness for a particular purpose, description, suitability or non-infringement; (ii) the contents of this document are free from any errors; and (iii) such contents do not infringe any third-party rights.

The Issuer shall have no liability for damages of any kind arising out of the use of, reference to or reliance on the contents of this Whitepaper. This Whitepaper may contain references to information and data obtained from third-party data and industry publications. As far as the Issuer is aware, the information and data reproduced in this Whitepaper is accurate and that its estimates and assumptions are reasonable. However, there are no assurances as to the accuracy or completeness of this information. Where this Whitepaper includes information and data that has been obtained from third party sources, the Issuer has not independently verified the accuracy or completeness of such information and data, or ascertained the underlying assumptions relied upon by such sources. Further, you acknowledge that circumstances may change and that this Whitepaper may become outdated as a result, and the Issuer is not under any obligation to update or correct this Whitepaper in connection therewith.

TOKEN DOCUMENTATION: This Whitepaper does not constitute advice nor a recommendation by the Issuer, its officers, directors, managers, employees, agents, advisors or consultants, or any other person to any recipient of this Whitepaper on the merits of participation in the EDNS Token Sale. Participation in the EDNS Token Sale carries substantial risk that could lead to a loss of all or a substantial portion of funds contributed. Nothing in this Whitepaper constitutes any offer by the Issuer to sell any Tokens, nor shall it or any part of it nor the fact of its presentation form the basis of, or be relied upon in connection with, any contract or investment decision. Nothing contained in this Whitepaper is or may be relied upon as a promise, representation or undertaking as to the future performance of the Platform. The agreement in relation to the distribution or transfer of the EDNS Tokens is to be governed only by the separate terms and conditions of such agreement.

The information set out in this Whitepaper is for reference and community discussion only and is not legally binding. No person is bound to enter into any contract or binding legal commitment in relation to the acquisition of the EDNS Tokens, and no digital asset or other form of payment is to be accepted on the basis of this Whitepaper. The agreement for distribution of the EDNS Tokens and/or continued holding of the EDNS Tokens shall be governed by a separate set of terms and conditions or token sale or token distribution agreement (as the case may be), setting out the terms of such distribution and/or continued holding of the EDNS Tokens, which shall be separately provided to you. The terms and conditions must be read together with this Whitepaper. In the event of any inconsistencies between the terms and conditions and this Whitepaper, the terms and conditions shall prevail.

DEEMED REPRESENTATIONS AND WARRANTIES: By accessing this Whitepaper (or any part thereof), you shall be deemed to represent and warrant to the Issuer as follows:

(a) in any decision to acquire any EDNS Token, you shall not rely on any statement set out in this Whitepaper;

(b) you will and shall at your own expense ensure compliance with all laws, regulatory requirements and restrictions applicable to you (as the case may be);

(c) you acknowledge, understand and agree that the EDNS Token may have no value, there is no guarantee or representation of value or liquidity for the EDNS Token, and the EDNS Token is not an investment product nor is it intended for any speculative investment whatsoever;

(d) the Issuer shall not be responsible for or liable for the value of the EDNS Token, the transferability and/or liquidity of the EDNS Token and/or the availability of any market for the EDNS Token developed and operated through third parties or otherwise; and

(e) you acknowledge, understand and agree that you are not eligible to participate in the distribution of the EDNS Token if you are a citizen, national, resident (tax or otherwise), domiciliary and/or green card holder of a geographic area or country (i) where it is likely that the distribution of the EDNS Token would be construed as the sale of a security (howsoever named), financial service or investment product and/or (ii) where participation in token distributions is prohibited by applicable law, decree, regulation, treaty, or administrative act (including without limitation the United States of America and the People's Republic of China); and to this effect you agree to provide all such identity verification document when requested in order for the relevant checks to be carried out.

The Issuer does not make, and does not purport to make, and hereby disclaims, all representations, warranties or undertaking to any entity or person (including without limitation warranties as to the accuracy, completeness, timeliness, or reliability of the contents of this Whitepaper, or any other materials published by the Issuer). To the maximum extent permitted by law, the Issuer and its affiliates shall not be liable for any indirect, special, incidental, consequential or other losses of any kind, in tort, contract or otherwise (including, without limitation, any liability arising from default or negligence on the part of any of them, or any loss of revenue, income or profits, and loss of use or data) arising from the use of this Whitepaper, or any other materials published, or their contents (including without limitation any errors, inaccuracies or omissions) or otherwise arising in connection with the same. Prospective acquirors of the EDNS Tokens should carefully consider and evaluate all risks and uncertainties (including financial and legal risks and uncertainties) associated with the distribution of the EDNS Tokens, the Platform and the Issuer.

THE EDNS TOKENS: The EDNS Tokens are designed to be utilized, and that is the goal of the distribution of the EDNS Tokens. The project to develop the EDNS Platform would fail if all Token holders simply held onto their Tokens and did nothing with it. In particular, it is highlighted that the EDNS Tokens:

(a) do not have any tangible or physical manifestation, and do not have any intrinsic value (nor does any person make any representation or give any commitment as to their values);

(b) are non-refundable and cannot be exchanged for cash (or theirs equivalent value in any other digital asset) or any payment obligation by the Issuer;

(c) do not represent or confer on the holder of the EDNS Token (singularly “Tokenholder”, plurally “Tokenholders”) any right of any form with respect to the Issuer or its affiliates, or its revenues or assets, including without limitation any right to receive future dividends, revenue, shares, ownership right or stake, share or security, any voting, distribution, redemption, liquidation, proprietary (including all forms of intellectual property or licence rights), right to receive accounts, financial statements or other financial data, the right to requisition or participate in shareholder meetings, the right to nominate a director, or other financial or legal rights or equivalent rights, or intellectual property rights or any other form of participation in or relating to the Platform, the Project and the Issuer;

(d) are not intended to represent any rights under a contract for differences or under any other contract the purpose or pretended purpose of which is to secure a profit or avoid a loss;

(e) are not intended to be a representation of money (including electronic money), security, commodity, bond, debt instrument, unit in a collective investment scheme or any other kind of financial instrument or investment;

(f) are not a loan to the Issuer or its affiliates, is not intended to represent a debt owed by the Issuer or its affiliates, and there is no expectation of profit or other return; and

(g) do not provide the Tokenholder with any ownership or other interest in the Issuer or its affiliates.

Notwithstanding the acquisition of the EDNS Token during the EDNS Token Sale, Tokenholders have no economic or legal right over or beneficial interest in the assets of the Issuer or its affiliates after the EDNS Token Sale.

To the extent a secondary market or exchange for trading the EDNS Token does develop, it would be run and operated wholly independently of the Issuer and the Platform. The Issuer will not create such secondary markets nor will either the Issuer or the Platform act as an exchange for the EDNS Token.

INFORMATION PURPOSES ONLY: The information set out herein is only conceptual, and describes the development goals for the Platform and is provided solely for informational purposes and does not constitute any binding commitment. Please do not rely on this information in deciding whether to participate in the EDNS Token Sale because ultimately, the development, release, and timing of any products, features or functionality remains at the sole discretion of the Issuer and its affiliates, and is subject to change. Further, this Whitepaper may be amended, supplemented or replaced from time to time. There are no obligations to update this Whitepaper, or to provide recipients with access to any information beyond what is provided herein.

REGULATORY APPROVAL: No regulatory authority has examined or approved, whether formally or informally, any of the information set out in this Whitepaper. No such action or assurance has been or will be taken under the laws, regulatory requirements or rules of any jurisdiction. The publication, distribution or dissemination of this Whitepaper does not imply that the applicable laws, regulatory requirements or rules have been complied with.

CAUTION REGARDING FORWARD-LOOKING STATEMENTS: This Whitepaper contains forward-looking statements or information (collectively “forward-looking statements”) that relate to the Issuer’s current expectations, views of future events, future expansion plans and business strategy. In some cases, these forward-looking statements can be identified by words or phrases such as “can”, “could”, “may”, “will”, “would”, expect”, “anticipate”, “aim”, “estimate”, “intend”, “plan”, “seek”, “believe”, “potential”, “continue”, “is/are likely to” or the negative of these terms, or other similar expressions intended to identify forward-looking statements.

The Issuer has based these forward-looking statements on its current expectations and projections about future events and financial trends that it believes may affect its financial condition, results of operations, business strategy, financial needs, or the results of the EDNS Token Sale or the value or price stability of the EDNS Tokens.

In addition to statements relating to the matters set out here, this Whitepaper contains forward-looking statements related to the Issuer’s proposed operating model. The model speaks to its objectives only, and is not a forecast, projection or prediction of future results of operations. Forward-looking statements are based on certain assumptions and analysis made by the Issuer in light of its experience and perception of historical trends, current conditions and expected future developments and other factors it believes are appropriate, and are subject to risks and uncertainties. The Issuer undertakes no obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise. Although the forward-looking statements contained in this Whitepaper are based upon what the Issuer believes are reasonable assumptions, these risks, uncertainties, assumptions, and other factors could cause the Issuer’s actual results, performance, achievements, and experience to differ materially from its expectations which are expressed, implied, or perceived in forward-looking statements. Given such risks, prospective participants in the EDNS Token Sale should not place undue reliance on these forward-looking statements.

These forward-looking statements are made only as at the date of this Whitepaper. The Issuer expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements or opinions contained in this Whitepaper to reflect any change in their expectations with regard thereto or any change of events, conditions or circumstances, on which any such statement was based.

REFERENCES TO COMPANIES AND PLATFORMS: The use of any company and/or platform names or trademarks herein (save for those which relate to the Issuer or its affiliates) does not imply any affiliation with, or endorsement by, any third party. References in this Whitepaper to specific companies and platforms are for illustrative purposes only.

ENGLISH LANGUAGE: This Whitepaper may be translated into a language other than English for reference purpose only and in the event of conflict or ambiguity between the English language version and translated versions of this Whitepaper, the English language versions shall prevail. You acknowledge that you have read and understood the English language version of this Whitepaper.

NO DISTRIBUTION: No part of this Whitepaper is to be copied, reproduced, distributed or disseminated in any way without the prior written consent of the Issuer. By attending any presentation on this Whitepaper or by accepting any hard or soft copy of this Whitepaper, you agree to be bound by the foregoing limitations.

The EDNS Tokens may not be offered or sold in Hong Kong by means of any document other than (i) in circumstances which do not constitute an offer to the public within the meaning of the Companies Ordinance (Chapter 622 of the Laws of Hong Kong); or (ii) to “professional investors” within the meaning of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) and any rules made thereunder; or (iii) in other circumstances which do not result in the document being a “prospectus” within the meaning of the Companies Ordinance (Chapter 622 of the Laws of Hong Kong) and no advertisement, invitation or document relating to the EDNS Tokens may be issued or may be in the possession of any person for the purpose of issue (in each case whether in Hong Kong or elsewhere), which is directed at, or the contents of which are likely to be accessed or read by, the public in Hong Kong (except if permitted to do so under the Laws of Hong Kong) other than with respect to the EDNS Tokens which are or are intended to be disposed of only to persons outside Hong Kong or only to “professional investor” within the meaning of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) and any rules and sub-legislation made thereunder.

None of the Securities and Futures Commission of Hong Kong, the Securities and Exchange Commission of the United States, any state securities commission, any foreign securities authority or any other federal, state or foreign regulatory authority has approved or disapproved of the EDNS Tokens or determined if this Whitepaper is truthful or complete. Any representation to the contrary is unlawful and may be a criminal offence. No action has been taken in any jurisdiction to permit a public offering of the EDNS Tokens.

This Whitepaper is not an offer to sell and is not a solicitation of any offer to purchase the EDNS Tokens in any jurisdiction where such offer or sale is not permitted.

Purchase of the EDNS Tokens involves significant risks. You should carefully consider the risks summarised in the section headed “Risk Factors” in this Whitepaper.

THIS WHITEPAPER DOES NOT CONSTITUTE AN OFFER OR INVITATION TO THE PUBLIC IN HONG KONG TO SUBSCRIBE FOR THE EDNS TOKENS.