Identification and Verification Process

Participation in the Hook Token ICO and the ability to claim a loan using the StopLoss Token as collateral are both subject to the successful completion of a detailed Know Your Customer (KYC) verification process. This process is legally required to ensure compliance with anti-money laundering (AML) regulations and to uphold the security and transparency of the Why Not platform. The KYC process is essential for verifying users’ identities, preventing fraudulent activities, and ensuring that only eligible participants can engage in the platform’s financial offerings. Whether users are buying into the Hook Token ICO or applying for a loan via their StopLoss Token collateral, they must meet all KYC requirements to access these services.

The KYC verification helps protect the integrity of the Why Not platform by making sure that participants adhere to legal and regulatory frameworks while ensuring the safety of all users.

User Information

To successfully complete the KYC process, users must submit specific personal information when participating in the Hook Token ICO and when applying for a loan through the StopLoss Token collateral mechanism. The following details are required to ensure compliance and validation of identity:

• Full Name: Users must submit their full legal name, including both first and last names, as it appears on government-issued identification documents. This ensures that the platform can verify that the individual participating is legitimate.
• Date of Birth: The user’s date of birth is required to confirm legal age eligibility. Only individuals who meet the legal age requirements in their jurisdiction will be permitted to participate in the ICO or loan claim.
• Current Residential Address: Users must provide their current residential address for verification purposes. This information is used to confirm the user's residency and may also be cross-referenced with other submitted documents.
• Country of Residence: Providing the country of residence is crucial, as different countries have different regulations regarding ICO participation and loan claims. Some countries restrict or prohibit participation in token sales and financial offerings. This personal information will be validated against official records to ensure its authenticity. The platform is designed to protect both the users and the platform itself by ensuring that only verified individuals engage in its offerings.

Accuracy and Verification

It is imperative that the information provided by users during the KYC process is accurate, current, and verifiable. Users will be required to submit supporting documentation, which may include government-issued identification cards, passports, utility bills, or bank statements, to confirm the information they have provided. Why Not reserves the right to disqualify any user who provides false, incomplete, or misleading information during the KYC process. Such individuals may be barred from participating in the Hook Token ICO or from claiming a loan via StopLoss Token collateral. Additionally, Why Not may request further documentation or conduct additional verification checks to ensure compliance with the KYC process at any time.

Failure to provide accurate information or to comply with verification requests will result in the denial of services, including both ICO participation and loan claims.

Data Retention and Privacy

All personal information collected during the KYC process will be handled in strict compliance with applicable data protection laws, including the General Data Protection Regulation (GDPR) and other relevant privacy regulations. Why Not is committed to taking appropriate technical and organizational measures to safeguard the privacy and security of user data. The information provided during the KYC process will only be used for the purposes of identity verification, fraud prevention, and legal compliance. Whether users are engaging in the Hook Token ICO or utilizing the StopLoss Token for a loan, their personal information will be treated with the highest level of confidentiality.

User data will be securely stored for as long as required by law, ensuring that regulatory obligations are met. After the legally mandated retention period, personal information will either be securely deleted or anonymized to further protect user privacy. Users can rest assured that their information is handled responsibly and used only for the intended purposes.

User Responsibility

It is the sole responsibility of the user to ensure that all personal information submitted during the KYC process is accurate and up-to-date. Users are expected to provide truthful and complete data for both the Hook Token ICO and any loan claims using StopLoss Token collateral. Should any discrepancies arise between the information provided and the official documentation required, users may be denied access to both ICO participation and the loan services. Users must comply fully with all aspects of the KYC process. Any attempt to bypass KYC requirements, provide fraudulent information, or mislead the platform will result in immediate suspension of their account, loss of access to the Hook Token ICO and StopLoss Token loan services, and could potentially lead to legal action. It is in the user’s best interest to ensure all personal information is accurate, as failure to do so could lead to significant consequences.

Data Consistency for Hook Token ICO and StopLoss Token Loan Claims

In situations where a user participates in the Hook Token ICO and later applies for a loan using the StopLoss Token as collateral, it is mandatory that the personal information provided during the KYC process for both actions is identical. Consistent data across these two processes ensures smooth verification and mitigates the risk of fraud or discrepancies that could otherwise delay or invalidate the loan claim.

The following personal information must be consistent across both processes:

• Full Name: The name used during the Hook Token ICO must match exactly with the name used when applying for a loan with the StopLoss Token.
• Date of Birth: The date of birth provided for the ICO participation must be identical to that used for the loan claim.
• Current Residential Address: The residential address submitted during the Hook Token ICO registration must remain the same if a loan claim is later made through the StopLoss Token.
• Country of Residence: The country stated during the KYC for the Hook Token ICO must match the country submitted during the loan application process.

Failure to maintain data consistency between the Hook Token ICO and the StopLoss Token loan application may result in denial of the loan request. Why Not reserves the right to reject any loan applications where the KYC data does not match the information initially provided during the Hook Token ICO. Users are responsible for ensuring that their information remains accurate and consistent throughout both processes. Any discrepancies between the two sets of data will be flagged for review, and additional documentation may be required to resolve the issue before a loan claim can be processed.

Jurisdictional Restrictions and Prohibited Regions

The use of the Hook Token ICO, StopLoss Token loan services, and any related offerings are subject to strict legal restrictions based on the laws of various jurisdictions. Why Not cannot provide access to these services in countries where Initial Coin Offerings (ICOs) are prohibited or heavily regulated. The following countries currently ban ICOs and are therefore excluded from participating in any Why Not offerings:

• China
• South Korea
• India
• Morocco
• Algeria
• Bangladesh
• Nepal
• Pakistan
• Egypt

In addition to these countries, users from the United States and Canada are also strictly prohibited from participating in the Why Not platform’s ICOs or loan services due to stringent regulatory requirements in those regions. Residents, citizens, or anyone accessing the platform from the USA or Canada are not allowed to engage in token offerings provided by Why Not.

To ensure compliance, Why Not will actively block access to its platform from any IP addresses associated with these restricted regions, including the USA and Canada. Advanced VPN detection technologies will also be employed to prevent users from circumventing these restrictions by masking their location. Access to the platform from these prohibited countries will be blocked, and any accounts found to be in violation of these restrictions will be suspended.

It is the responsibility of each user to ensure that they are not accessing the platform from a restricted region. By engaging in the Hook Token ICO or applying for a StopLoss Token loan, users confirm that they are in full compliance with the legal requirements of their jurisdiction.

Nature of the StopLoss Token

The StopLoss Token is a unique financial product, specifically designed to offer an additional safety net to users who participate in Why Not’s token offerings. It acts as a form of insurance or protective instrument, aimed at mitigating the financial risks associated with the volatility of certain tokens. When users purchase the StopLoss Token, they gain the option to safeguard their investment by activating a protection mechanism that shields them from severe declines in the value of a designated token. This protection applies only to the specific tokens selected at the time of purchasing the STOPLOSS Token, and the terms of this protection are governed by the provisions laid out in this agreement and any related documentation from Why Not.

Protection Mechanism

Upon acquiring the STOPLOSS Token, users enter into an agreement where they are entitled to claim a reimbursement of up to 95% of the losses incurred, if the market value of the token being protected drops substantially within a clearly defined coverage period. This coverage period is explicitly stated in the offering materials provided by Why Not and is tied to the specific token chosen for protection. In the event of a claim, the user will receive the initial 95% of their loss shortly after the claim is processed, while the remaining 5% will be disbursed after a 60-week waiting period. This delay serves as a safeguard to ensure compliance with all conditions related to the STOPLOSS Token and helps maintain the integrity of the protection mechanism. Users must adhere to all requirements to qualify for full reimbursement, with the understanding that the STOPLOSS Token is designed to mitigate losses rather than provide immediate full compensation.

Eligibility for Claims

In order to activate the protection provided by the STOPLOSS Token and make a valid claim, users must meet a set of pre-established criteria. These conditions are essential for ensuring that the user has acted within the scope of the agreement and the protections offered by Why Not. Specifically:

• The user must hold the STOPLOSS Token for the entirety of the coverage period. Selling, transferring, or otherwise disposing of the STOPLOSS Token before the end of this period will invalidate any claims.
• Users must comply with all KYC (Know Your Customer) requirements, which are detailed in Section 1 of these Terms and Conditions. This involves providing valid identification and fulfilling any legal or regulatory procedures necessary to verify their identity.
• In the event of a claim, the user must provide all necessary documentation. This includes but is not limited to:
  • Proof of purchase of the token being protected by the STOPLOSS Token.
  • Evidence of the loss incurred (such as transaction records or statements showing the decline in the token’s value).
  • Any additional supporting information requested by Why Not to validate the claim and ensure that the terms of the protection have been met.
  Failure to comply with any of these conditions may result in the denial of the claim or a reduction in the compensation received.

Limitations of Protection

The protection provided by the STOPLOSS Token is subject to several important limitations, and users should carefully consider these before purchasing the token.

• The protection applies only to the specific tokens that are designated at the time the user purchases the STOPLOSS Token. No other investments or financial activities conducted on Why Not are covered by this protection. Users are advised to review their holdings and ensure they understand which tokens are protected and which are not.
• The protection mechanism is valid only for a specified period. This coverage period is clearly defined in the offering materials for the token and is non-negotiable. Once the coverage period expires, the user will no longer be able to claim protection, even if the token’s value declines afterward.
• Claims must be filed within the allowed time frame, as stated in the offering documentation. Late claims or claims made outside the coverage period will not be honored. Users are responsible for keeping track of the coverage duration and ensuring that they submit their claims within the permitted window.

No Guarantee of Profit

It is crucial for users to understand that the STOPLOSS Token does not offer a guaranteed profit or ensure the full recovery of any investment made in the associated token. Its primary function is to act as a loss mitigation tool, providing partial reimbursement for losses incurred due to a significant drop in the value of the protected token, within the bounds of the predefined coverage period. The STOPLOSS Token is designed to limit downside risk, but it cannot fully eliminate it. Even with the protection in place, users remain exposed to some level of financial risk, as the STOPLOSS Token does not cover losses beyond the predefined percentage (95%) and does not offer coverage beyond the expiration of the coverage period. Users are reminded that investing in tokens and digital assets inherently involves a degree of market risk, and the STOPLOSS Token should be seen as a supplementary risk management tool, rather than a replacement for sound investment practices and strategies.

Limitations of Liability

Why Not and its affiliated entities, partners, or service providers will not be held responsible for any direct or indirect losses or damages that result from the use or attempted use of the STOPLOSS Token. Specifically, this includes, but is not limited to:

• Delays in the processing of claims, which may occur due to unforeseen technical issues or a backlog of requests.
• Failure to comply with KYC and other legal requirements, which may prevent users from being eligible for compensation.
• Technical problems or interruptions on the Why Not? Int LLC may affect the ability to claim protection or access the protection services in a timely manner.

Users should be aware that participation in the STOPLOSS Token scheme comes with inherent limitations, and the company is not liable for situations that are beyond its control. By agreeing to these terms, users acknowledge and accept these risks.

TO THE MAXIMUM EXTENT PERMITTED BY LAW, IN NO EVENT SHALL ANY WHY NOT INDEMNIFIED PARTY BE LIABLE TO YOU FOR ANY LOSS, DAMAGE, OR INJURY OF ANY KIND INCLUDING ANY DIRECT, INDIRECT, SPECIAL, INCIDENTAL, EXEMPLARY, CONSEQUENTIAL, OR PUNITIVE LOSSES OR DAMAGES, OR DAMAGES FOR SYSTEM FAILURE OR MALFUNCTION OR LOSS OF PROFITS, DATA, USE, BUSINESS OR GOOD-WILL OR OTHER INTANGIBLE LOSSES, ARISING OUT OF OR IN CONNECTION WITH

• THE SERVICES OR YOUR INABILITY TO USE OR ACCESS THE SERVICES
• MISUSE OF THE SERVICES (INCLUDING WITHOUT LIMITATION, UNAUTHORIZED ACCESS OF THE SERVICES)
• ANY USER CONDUCT ON THE SERVICES
• TERMINATION, SUSPENSION OR RESTRICTION OF ACCESS TO ANY THE SERVICES. IN ADDITION TO THE FOREGOING, NO AAVE LABS INDEMNIFIED PARTY SHALL BE LIABLE FOR ANY DAMAGES CAUSED IN WHOLE OR IN PART BY:
• USER ERROR, SUCH AS FORGOTTEN PASSWORDS OR INCORRECTLY CONSTRUCTED SMART CONTRACTS OR OTHER TRANSACTIONS
• SERVER FAILURE OR DATA LOSS
• THE MALFUNCTION, UNEXPECTED FUNCTION OR UNINTENDED FUNCTION OF THE BLOCKCHAIN, ANY COMPUTER OR CRYPTOASSET NETWORK (INCLUDING ANY WALLET PROVIDER), INCLUDING WITHOUT LIMITATION LOSSES ASSOCIATED WITH NETWORK FORKS, REPLAY ATTACKS, DOUBLE-SPEND ATTACKS, SYBIL ATTACKS, 51% ATTACKS, GOVERNANCE DISPUTES, MINING DIFFICULTY, CHANGES IN CRYPTOGRAPHY OR CONSENSUS RULES, HACKING, OR CYBERSECURITY BREACHES
• ANY CHANGE IN VALUE OF ANY CRYPTOASSET
• ANY CHANGE IN LAW, REGULATION, OR POLICY
• EVENTS OF FORCE MAJEURE
• ANY THIRD PARTY

Jurisdictional Restrictions and Prohibited Regions

The use of the STOPLOSS Token and participation in any related token offerings are subject to strict legal restrictions based on the regulatory frameworks of various jurisdictions. The Why Not? Int LLC, and the STOPLOSS Token specifically, cannot and will not be made available to the following users:

• you are the target of any sanctions administered or enforced by the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”), the United Nations Security Council, the European Union, Her Majesty’s Treasury, or any other legal or regulatory authority in any applicable jurisdiction;
• either you, as an individual or an entity, or your wallet address is listed on the Specially Designated Nationals and Blocked Persons List (“SDN List”), Consolidated Sanctions List (“Non-SDN Lists), or any other sanctions lists administered by OFAC;
• you are located, organized, or resident in a country or territory that is, or whose government is, the subject of sanctions, including but not limited to Myanmar (Burma), Cote D'Ivoire (Ivory Coast), Cuba, Crimea and Sevastopol, Democratic Republic of Congo, Iran, Iraq, Libya, Mali, Nicaragua, Democratic People’s Republic of Korea (North Korea), Somalia, Sudan, Syria, Yemen, Zimbabwe or any other state, country or region that is included in the Sanction Lists.; or
• you have otherwise acted in violation of these Terms. If we have a reasonable suspicion that you are utilizing the Services for illegal purposes, we reserve the right to take whatever action we deem appropriate.

It is important to note that users from the United States and Canada are also strictly excluded from participating in the Why Not? Int LLC platform and from purchasing the STOPLOSS Token. Due to stringent regulatory requirements in these regions, residents, citizens, and anyone accessing the company from the USA or Canada are not permitted to engage in any token offerings provided by Why Not.