KEY RISK FACTORS AND DISCLAIMER

The square option token is not a crypto currency, and it is not on the chain and is not issued in limited quantities. The "token" nature of the square option token is limited to the fact that it can be traded like any other token, in a specific spot market. Due to the unique nature of the square option token, we do not recommend it to those who are new to option products. Before purchasing this product, you should confirm that you understand the nature of the option products and that you are aware of the rules of this product. If you are unsure about the nature and rules of the option products, you should consult a professional.

Square option tokens are highly susceptible to market volatility and their non-linear nature may result in a rapid decline in their value. The total return received by the client in square option tokens may be substantially less than the market value of the amount invested by the client.

If you choose to invest in square option tokens using leverage, you will also be exposed to leverage risk. Under market conditions that are contrary to your expectations, you may lose your entire investment amount.

Although the company provides a platform for clients to transfer their square option tokens prior to the expiry date, market makers may not be able to place pending orders during extreme market conditions, resulting in a lack of liquidity for the tokens. Therefore, the company does not guarantee that your tokens will always be transferable or will be transferred at your ideal price.

You understand that the company works with market makers to hedge the square option tokens you purchase. Market makers may have risks such as hedging errors and account liquidation under extreme market conditions. If the market maker becomes insolvent, the company will take over the market maker's trading account. At this time, users may face the risk of early redemption of the square option tokens, and the amount of funds that users will receive depends on the remaining assets of the market maker's account. Therefore, there may be a risk that the tokens will not be fully redeemed upon settlement.

Order system is provided on an “as is” and “as available” basis, without warranty of any kind, and the company specifically disclaims all express and implied warranties regarding the order system, including without limitation, the warranties that it is free of defects, merchantable, fit for a particular purpose or non-infringing, that the order system will be uninterrupted, error free or free of harmful components, and that any information provided by you will be secure and not lost or damaged. The entire risk as to the quality and performance of the order system is borne by you, to the extent such risk is not due to the company’s wilful misconduct. This disclaimer of warranty constitutes an essential part of this agreement. No use of the order system is authorized hereunder except as permitted under this agreement.