Risk Disclosure

This Risk Disclosure Statement is an integral part of the Horizon DAO Terms of Service and applies to the Horizon DAO and the Horizon DAO Demo accessible at https://horizon-dao.io/ (with temporary beta accessible at https://testnet.horizon-dao.io). The Horizon DAO is provided by Horizon Network Company Limited, a company incorporated under the laws of the Kingdom of Thailand.

Beta Stage Risk

The Horizon DAO App is currently in its beta stage and is experimental software. It is provided on an "as is" and "as available" basis, without any warranties, whether expressed or implied. The Horizon DAO App and related software may contain weaknesses, bugs, vulnerabilities, viruses, or other defects that may have a material adverse effect on its operation or lead to losses and damages for users.

Blockchain Network Risk

The Horizon DAO App interacts with the Protocol deployed on the Ethereum Virtual Machine-compatible blockchain network(s). Any malfunction, breakdown, or abandonment of such blockchain(s) may have a material adverse effect on the Horizon DAO App and Protocol. Additionally, advances in cryptography or technical advances may present risks to the Horizon DAO App and related blockchain software by rendering ineffective the cryptographic consensus mechanism that underpins the blockchain. Furthermore, the underlying software and software platforms, including the blockchain networks, are still in an early development stage and unproven. As a result, the blockchain, as well as any other blockchain, can be attacked, which may lead to complete loss of assets implemented on such blockchain network.

Protocol Risk

Horizon DAO App interacts with the Protocol, and when using it, you may be exposed to risks related to the operation and functioning of the Protocol. The Protocol is complex, and its components and functional elements are risky and experimental. You should not use or interact with the Protocol unless you fully understand how it works and the consequences of transactions carried out with its use. Information derived from the Protocol, related software, and underlying blockchain network(s) may not be verified, accurate, timely, complete, or sufficient. Additionally, certain functions within the Protocol may be executed by third parties that may not act in a timely or reliable manner, or as expected or intended, or may fail to act, leading to partial or complete loss of digital assets.

Flawed Logic Risk

The underlying logic of the Horizon DAO App and related software may be flawed, defective, or impaired, leading to smart-contracts operating incorrectly or not as expected. Transactions may be executed in violation of logic that underpins the smart-contracts, leading to partial or complete loss of digital assets.

User Interface Risk

Certain user interface elements or design decisions of the Horizon DAO App can be confusing or misleading, leading to the execution of a different action or transaction than intended or desired or connection to a wrong digital wallet, account, or network.

Legal Uncertainty Risk

The activities of Horizon DAO may be subject to various laws and regulations in the countries where it operates. Obtaining different licenses or permissive documents may be necessary in some or all jurisdictions where it intends to operate its business. Regulatory actions, orders, or inquiries may adversely affect the Horizon DAO App and Horizon DAO, or impair its ability to make the Horizon DAO App available. Changes in applicable laws or regulations or evolving interpretations of existing law could result in increased compliance costs or capital expenditures, which could affect its ability to carry on the business model and develop the Horizon DAO App and related software.

Theft Risk

While the Horizon DAO makes a commercially reasonable effort to ensure that any transactions carried out via the Horizon DAO App are secure, theft of digital assets may occur as a result of hacks, sophisticated cyber-attacks, distributed denials of service, errors, double-spent attacks, flash-loan attacks, vulnerabilities, defects of the Horizon DAO App or related software, the Ethereum blockchain network or any other blockchain network, or otherwise. Such events may include, for example, flaws in programming or source code leading to exploitation or abuse thereof. Any of the above may lead to partial or complete theft or loss of digital assets used in transactions carried out through the Horizon DAO App or with the use of related software.