The NAEST company has conducted a review of the risks that could have a significant adverse effect on its business, project, and the tokens it plans to issue. These risks have been classified according to their nature.
Economic Risks
Risk of Partial or Total Loss of Holding : Despite NAEST's efforts to generate interest in the NST token, its price fluctuates continuously and could decrease significantly. In such a scenario, holders could lose all or part of their subscription. Holders should not subscribe in NST tokens if they are unable to bear the consequences of such a loss.
Currency Risk , particularly against the euro or any foreign currency, borne by the holder: If NST tokens are traded on digital asset exchanges, the value of the NAEST token in euros will directly depend on the supply and demand for NAEST at any given moment. Should interest in services associated with NAEST decline, the price of the NAEST token in euros—and by extension in any other currency—could drop significantly. Moreover, during this period, the price of these crypto-assets in euros and in any other currency could decrease significantly, leaving holders exposed to fluctuation risk without the ability to request reimbursement of their crypto-assets.
Risk Related to Token Valuation : The value of the NAEST token depends on supply and demand, which is influenced by the level of adoption of the NAEST platform. A lack of adoption could negatively impact the valuation of NAEST tokens. Additionally, in the event of restructuring, liquidation, or dissolution of the issuer (SAS NAEST), NAEST tokens could lose all their value.
Risk of Lack of Liquidity for Tokens : As the NAEST token is currently not tradable on a trading or exchange platform for digital assets, liquidity risk applies. Furthermore, if the NST token is listed on such a platform, the ability to sell a large quantity of NAEST tokens within a short time frame will depend on the liquidity available in secondary markets for NAEST tokens. However, if interest in services associated with the NAEST token diminishes, liquidity, trading volumes, or exchange value against other digital assets or legal tender could be negatively impacted.
Risk Related to Absence of a Secondary Market for NAEST Tokens : The NAEST token is intended to be listed on a secondary market. However, success in these endeavors undertaken by the issuer or one of its affiliates is not guaranteed. Moreover, if listed on a secondary market, that market may decide to delist the NAEST token, which would consequently reduce its liquidity.
Risk Related to Exchanges : The companies and platforms where NAEST tokens may eventually be listed provide or could provide one or more services related to digital assets as listed in Article L. 54-10-2 of the Monetary and Financial Code. Therefore, it cannot be excluded that these companies and their digital asset trading platform must undergo mandatory registration with the AMF and that they may not meet registration conditions. The holder may need to ensure compliance with these conditions when using these platforms.
Technological Risks
Risk of Errors or Security Breaches Allowing Hacking or Theft of Issuer Data : The smart contracts used in this offering will all be audited by a third-party company to ensure no vulnerabilities are detected. The issuer has taken all reasonable cybersecurity measures to protect against known attacks that could disrupt the NAEST platform. However, the issuer disclaims any responsibility for malfunctions or unexpected operations related to Solana blockchain or another blockchain, loss of tokens by buyers, hacking incidents, or any situation preventing holders from accessing their tokens.
Risk of Loss or Theft of Subscriber's Private Key Support : A private key is similar to a unique password that validates requests for transferring one or more tokens on Solana blockchain or another blockchain. Any third party accessing the holders private key or private key management system (referred to as "wallet") can steal funds and tokens stored there. In case of loss of the private key, funds and tokens held will be permanently lost. It should be noted that the issuer does not possess holders private keys and under no circumstances should a private key be shared with a third party. Therefore, it is each subscriber's responsibility to securely keep their private key. Holders are encouraged to use recognized and audited open-source wallets to securely manage their private keys.
Risks Related to Functional Scope of Solana or Ethereum Contracts : The computer code of a contract deployed on a blockchain is generally not modifiable. However, it may be necessary during a contract's lifecycle to evolve its functional scope. This includes adding features or security patches (e.g., a security flaw that was not detected during auditing work requiring modification of Solana contract code). If there were changes to the functional scope of contracts, a new version may need to be deployed. This possibility for updates reduces functional limitations inherent in blockchain contract immutability. Any updates to Solana or Ethereum contracts will undergo security audits.
Risk of Internet Fraud and Identity Theft of Issuer : There is a risk that criminals may attempt to defraud subscribers through fake accounts on social media that replicate the issuer’s visual identity. Therefore, subscribers should only use official communication channels from the Issuer as listed in the "Contact Information " section below:
NST Issuer :
Subscription Page for the Offer: To Follow
NAEST Social Networks :
The term "non-blockchain applications" (or "off-chain" or "web2") refers to applications other than those deployed on Solana blockchain. This offering requires both blockchain applications and non-blockchain applications (e.g., web server hosting the subscription page). If an attacker were able to compromise the subscription page without the knowledge of either the issuer or holders,... funds intended for subscribing to NAEST could be redirected to one or more Solana addresses controlled by the hacker, resulting in irreversible loss of holders' crypto-assets.
To mitigate this risk, the Issuer has implemented security measures listed below:
Strong authentication mechanism using SSH keys
Protection against DDoS attacks
Real-time monitoring of server health status and alerts
Mechanisms for detecting and blocking intrusion attempts
Updated operating systems and software
Daily backups of databases on an additional server.
However, any successful attack poses a risk for NAEST token holders regarding partial or total loss of their funds.
Risk of Failure in Launching or Developing Technical and Operational Aspects of Project : The technological risk associated with developing the platform appears low. However, difficulty in generating adoption despite having a functional interface is a risk that holders must consider.
Risk of Substantial Modification to Project and Rights Attached to Tokens : The issuer does not plan short-term changes regarding functionalities related to using NAEST tokens via its platform. However, this possibility cannot be excluded due to developments concerning its accelerator and Foundation.
Risk Related to Lack of Regular Communication from Issuer Regarding Project or Events Impacting Project : For information purposes, the issuer will maintain regular communication with NST token holders through multiple channels (newsletter, Twitter, Telegram, LinkedIn). The risk related to lack of regular communication from issuer about project developments is considered low.
Risks Related to Lack of Clarity on Applicable Regulations for Token Offering Across Jurisdictions : The taxation and accounting rules surrounding offering, sale, or donation of NAEST tokens are governed by current French law as per this Information Document date. No assurance can be provided regarding consequences from potential judicial or administrative decisions or changes in legislation affecting this Information Document's date. Such decisions could negatively impact both subscribers and value of NAEST tokens. Furthermore, issuer excludes any liability regarding adoption by European Union legislation harmonizing legal qualification for digital assets which could affect current qualification for NAEST tokens and attached rights.
Without constituting contractual advice, it is recommended that any buyer consult legal and tax advisors regarding implications from purchasing NAEST tokens or exchanging them with other digital assets or legal tender based on nationality and residence.
NAEST token holders are responsible for how they use their tokens. Payment for purchasing or selling tokens incurs their responsibility. NAEST company disclaims any liability if tokens are used for purchasing or selling products prohibited by law.
As of now, impacts from pandemics or economic crises on issuer and ICO operations can be considered negligible or minor. However, if there were declarations related to health crises due to pandemics or economic crises requiring significant mobilization from issuer... developments related to NAEST application/platform as well as valuation for NAEST token could be negatively impacted. Indeed, measures taken by various governments against such pandemics/crises remain uncertain; thus issuer remains vigilant regarding potential negative consequences on user adoption towards platform which could affect short-term business model for NAEST company.
Last updated 4 months ago
