Legal Disclaimer

Last Updated: January 2025

CRITICAL LEGAL NOTICE

THIS LEGAL DISCLAIMER CONTAINS IMPORTANT INFORMATION REGARDING THE BIDA PLATFORM, $BIDA TOKEN, AND ASSOCIATED SERVICES. PLEASE READ THIS DOCUMENT CAREFULLY AND IN ITS ENTIRETY BEFORE ACCESSING OR USING ANY BIDA SERVICES.

BY ACCESSING OR USING THE BIDA PLATFORM, YOU ACKNOWLEDGE THAT YOU HAVE READ, UNDERSTOOD, AND AGREE TO BE BOUND BY THIS LEGAL DISCLAIMER.

1. Not a Security - Utility Token Only

1.1 Token Classification

The $BIDA token is a utility token designed exclusively for functional use within the BIDA ecosystem. $BIDA is NOT:

  • A security as defined by the U.S. Securities Act of 1933, the Securities Exchange Act of 1934, or any other securities laws
  • An investment contract, investment vehicle, or financial instrument
  • A share, equity interest, or ownership stake in BIDA or any affiliated entity
  • A debt instrument, bond, note, or evidence of indebtedness
  • A derivative, commodity, or regulated financial product
  • Subject to registration requirements under the Securities Act or any other securities laws

1.2 No Securities Law Protections

Because $BIDA is not a security, holders do NOT receive the protections afforded by securities laws, including:

  • SEC registration and disclosure requirements
  • Periodic financial reporting obligations
  • Anti-fraud protections under securities laws
  • Rights to sue under securities regulations
  • Investor protection mechanisms

1.3 Howey Test Analysis

$BIDA does not meet the criteria of the Howey Test for determining securities:

  • No Investment of Money: Token acquisition is for utility access, not investment
  • No Common Enterprise: Token holders do not share in a pooled investment
  • No Expectation of Profits: Tokens provide utility functions, not profit rights
  • No Efforts of Others: Token value derives from ecosystem utility, not managerial efforts

2. No Investment Advice or Recommendations

2.1 Not Financial Advice

NOTHING ON THE BIDA PLATFORM, WEBSITE, WHITEPAPER, OR ANY RELATED MATERIALS CONSTITUTES FINANCIAL, INVESTMENT, LEGAL, TAX, OR PROFESSIONAL ADVICE OF ANY KIND.

All information provided is for general informational purposes only and should not be relied upon for making financial decisions. You should:

  • Conduct your own independent research and due diligence
  • Consult with qualified financial, legal, and tax advisors
  • Understand the risks before acquiring or using $BIDA tokens
  • Make decisions based on your own judgment and risk tolerance

2.2 No Recommendations

BIDA does not recommend, endorse, or suggest that you:

  • Purchase, acquire, hold, or sell $BIDA tokens
  • Participate in any tokenized asset offerings
  • Engage in any specific investment strategy
  • Allocate any particular amount of capital to cryptocurrency

2.3 No Guarantees or Promises

We make NO representations, warranties, or guarantees regarding:

  • Future token value, price appreciation, or returns
  • Liquidity, market demand, or trading volume
  • Platform success, adoption, or longevity
  • Regulatory approval or compliance outcomes
  • Technical functionality or absence of defects
  • Achievement of roadmap milestones or objectives

3. Comprehensive Risk Disclosures

3.1 Risk of Total Loss

YOU MAY LOSE YOUR ENTIRE INVESTMENT. ONLY PARTICIPATE WITH FUNDS YOU CAN AFFORD TO LOSE COMPLETELY.

3.2 Cryptocurrency Risks

  • Extreme Volatility: Token prices can fluctuate wildly and unpredictably
  • Lack of Regulation: Cryptocurrency markets are largely unregulated
  • No Investor Protections: No FDIC insurance, SIPC protection, or similar safeguards
  • Irreversible Transactions: Blockchain transactions cannot be reversed or refunded
  • Lost Private Keys: Lost keys result in permanent, irretrievable loss of tokens

3.3 Technical Risks

  • Smart Contract Vulnerabilities: Bugs, exploits, or hacks may result in loss of funds
  • Network Failures: Blockchain congestion, forks, or failures may disrupt services
  • Technology Obsolescence: Newer technologies may render BIDA obsolete
  • Cybersecurity Threats: Hacking, phishing, and malware attacks

3.4 Regulatory Risks

  • Regulatory Uncertainty: Cryptocurrency regulations are evolving and unclear
  • Adverse Regulatory Actions: Governments may ban, restrict, or heavily regulate cryptocurrencies
  • Compliance Costs: Future regulations may impose significant compliance burdens
  • Jurisdictional Restrictions: Services may become unavailable in certain jurisdictions

3.5 Market Risks

  • Lack of Liquidity: You may be unable to sell tokens when desired
  • Market Manipulation: Cryptocurrency markets are susceptible to manipulation
  • Exchange Risks: Exchanges may fail, be hacked, or delist tokens
  • No Market Makers: No obligation to maintain liquidity or market prices

3.6 Project-Specific Risks

  • Development Risks: Platform may not be completed or may fail to achieve objectives
  • Competition: Other projects may offer superior solutions
  • Team Risks: Key team members may leave or underperform
  • Adoption Risks: Platform may fail to achieve user adoption
  • Funding Risks: Insufficient funding may prevent project completion

4. Regulatory Compliance Framework

4.1 Compliant Crowdfunding - Not Gambling

BIDA's raffle-style crowdfunding mechanism is a compliant, asset-backed crowdfunding system that:

  • Is backed by verified real-world assets with proof of ownership
  • Operates under applicable crowdfunding regulations and exemptions
  • Is NOT gambling, lottery, sweepstakes, or games of chance
  • Requires participant eligibility verification and compliance
  • Maintains transparency through blockchain-based verification

4.2 KYC/AML Compliance

BIDA implements robust Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures in accordance with:

  • Financial Action Task Force (FATF) recommendations
  • Bank Secrecy Act (BSA) requirements
  • FinCEN guidance on virtual currencies
  • International AML/CTF standards

4.3 Regulatory Alignment

BIDA strives to align with global regulatory frameworks, including:

  • SEC (United States): Compliance with applicable exemptions and regulations
  • ESMA (European Union): Alignment with MiCA and other EU regulations
  • FINMA (Switzerland): Adherence to Swiss financial market regulations
  • FCA (United Kingdom): Compliance with UK crypto asset regulations

5. Jurisdictional Restrictions

5.1 Restricted Jurisdictions

BIDA services are NOT available to residents or citizens of the following jurisdictions:

  • Countries subject to comprehensive U.S. sanctions (e.g., North Korea, Iran, Syria, Cuba)
  • Jurisdictions where cryptocurrency activities are prohibited
  • Regions where BIDA services would violate local laws
  • Any jurisdiction added to our restricted list from time to time

5.2 User Responsibility

You are solely responsible for:

  • Determining whether your use of BIDA services is legal in your jurisdiction
  • Complying with all applicable local, state, national, and international laws
  • Obtaining any required licenses, permits, or approvals
  • Paying all applicable taxes on token transactions

6. No Liability - Complete Exoneration

TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, THE COMPANY AND ITS DIRECTORS, OFFICERS, EMPLOYEES, AFFILIATES, AGENTS, CONTRACTORS, AND PARTNERS (COLLECTIVELY, "BIDA PARTIES") SHALL HAVE NO LIABILITY WHATSOEVER FOR ANY:

  • Direct, indirect, incidental, special, consequential, exemplary, or punitive damages
  • Loss of profits, revenue, business, data, or business opportunities
  • Token price fluctuations, depreciation, or total loss of value
  • Failed transactions, network congestion, or blockchain issues
  • Smart contract vulnerabilities, bugs, or exploits
  • Hacks, security breaches, or unauthorized access
  • Regulatory actions, investigations, or enforcement proceedings
  • Changes in law or regulatory interpretation
  • Third-party actions, including exchange failures or delistings
  • User errors, including lost private keys or incorrect transfers
  • Platform downtime, interruptions, or discontinuation
  • Inaccurate, incomplete, or misleading information
  • Failure to achieve roadmap objectives or milestones
  • Any other losses or damages of any kind

THE BIDA PARTIES SHALL NOT BE LIABLE UNDER ANY THEORY OF LIABILITY, WHETHER CONTRACT, TORT (INCLUDING NEGLIGENCE), STRICT LIABILITY, OR OTHERWISE, EVEN IF ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

IN JURISDICTIONS THAT DO NOT ALLOW THE EXCLUSION OR LIMITATION OF LIABILITY, THE BIDA PARTIES' LIABILITY SHALL BE LIMITED TO THE MAXIMUM EXTENT PERMITTED BY LAW.

7. User Acknowledgments and Representations

By using BIDA services, you acknowledge, represent, and warrant that:

  • You have read and understood this Legal Disclaimer in its entirety
  • You understand that $BIDA is a utility token, not a security or investment
  • You are not relying on any statements, promises, or representations from BIDA
  • You have conducted your own independent research and due diligence
  • You understand and accept all risks associated with cryptocurrency
  • You can afford to lose your entire investment without financial hardship
  • You are not located in a restricted jurisdiction
  • You are in compliance with all applicable laws and regulations
  • You have consulted with qualified advisors as necessary
  • You are using BIDA services at your own risk and responsibility
  • You waive any and all claims against the BIDA Parties
  • You agree to indemnify and hold harmless the BIDA Parties

8. Forward-Looking Statements

Certain statements in the whitepaper, website, and other materials may constitute "forward-looking statements" regarding future plans, objectives, and expectations. These statements are subject to risks, uncertainties, and assumptions and should not be relied upon as predictions of actual results.

Forward-looking statements include, but are not limited to:

  • Roadmap milestones and timelines
  • Platform features and functionality
  • Partnership and integration plans
  • Token utility and ecosystem development
  • Market adoption and growth projections

ACTUAL RESULTS MAY DIFFER MATERIALLY FROM FORWARD-LOOKING STATEMENTS. WE UNDERTAKE NO OBLIGATION TO UPDATE OR REVISE ANY FORWARD-LOOKING STATEMENTS.

9. No Fiduciary Duty

BIDA and its team members owe NO fiduciary duties to token holders or platform users. We do not act as your agent, advisor, or fiduciary. You are solely responsible for your own decisions and actions. We have no obligation to act in your best interests or to prioritize your interests over our own or those of other users.

10. Severability and Survival

If any provision of this Legal Disclaimer is found to be invalid, illegal, or unenforceable, the remaining provisions shall remain in full force and effect. The invalid provision shall be modified to the minimum extent necessary to make it valid and enforceable while preserving its intent.

The disclaimers, limitations of liability, and indemnification provisions shall survive any termination or expiration of your use of BIDA services.

11. Contact Information

For legal inquiries, please contact:

Email: legal@bida.finance
Website: https://bida.finance

FINAL ACKNOWLEDGMENT

BY ACCESSING OR USING THE BIDA PLATFORM, YOU ACKNOWLEDGE THAT:

  • YOU HAVE READ AND UNDERSTOOD THIS ENTIRE LEGAL DISCLAIMER
  • YOU ACCEPT ALL RISKS ASSOCIATED WITH CRYPTOCURRENCY AND BLOCKCHAIN TECHNOLOGY
  • YOU UNDERSTAND THAT $BIDA IS A UTILITY TOKEN, NOT A SECURITY OR INVESTMENT
  • YOU ARE NOT RELYING ON ANY REPRESENTATIONS OR PROMISES FROM BIDA
  • YOU WAIVE ALL CLAIMS AGAINST THE BIDA PARTIES
  • YOU AGREE TO INDEMNIFY AND HOLD HARMLESS THE BIDA PARTIES
  • YOU ARE USING THE SERVICES AT YOUR OWN RISK AND RESPONSIBILITY
  • YOU MAY LOSE YOUR ENTIRE INVESTMENT

IF YOU DO NOT AGREE WITH THIS LEGAL DISCLAIMER, DO NOT USE THE BIDA PLATFORM OR ACQUIRE $BIDA TOKENS.