Depositoffer.com Auction Platform for deposits particularly crypto currencies to determine rates transparently.

White paper including Risks, Terms and Conditions for purchase of digital Tokens

This whitepaper is for informational purposes only and does not constitute an offer or solicitation to sell shares or securities in depositoffer.com or any related or associated company. This whitepaper has not been registered as a memorandum (as defined in the Securities and Futures Act (“SFA”)) with the Monetary Authority of Singapore, is for informational purposes only and does not constitute an offer or solicitation to sell shares or securities. The content of this promotion has not been approved by an authorised person within the meaning of the Financial Services and Markets Act 2000 (UK). Reliance on this promotion for the purpose of engaging in any investment activity may expose an individual to a significant risk of losing all of the property or other assets invested. In addition, this whitepaper discloses Risks, Terms and Conditions for the purchase of utility tokens which must be read together as a whole.

Prepared by KHAI KWAN at Level 11, 65 York St, Sydney 2000, Australia who is solely responsible for the content.
Dated 19.10.2017 (version 0.3) Final

A.  Executive Summary

DepositOffer Token (‘DOT’) - The Token for Competitive Deposit Rates and more.

● 1.8 billion people operate in a $10 trillion underground economy because they can’t get better rates of return as banks only serve private clients with super size amounts. Individually, they can’t negotiation but in aggregating/combining with others’ funds, making these funds more organized and available, and put them on better footing than private clients in terms of rates.

● Billions worth of BTC and ETH in $ value are sitting in wallets not being put to work to earn interest for its owners when they should be on-lend to drive the crypto-economy to grow like wildfire. We put crypto-currencies to work for you while you sleep and guarantee repayments from reputable banks only.

● DOT will also be used initially once only to elect A-TEAM to run the Project Tasks (see below) and then if successful to hire them permanently. This will be the first time Digital Token is used to hire Team Members by voting themselves on the Teams using DOT as currency for labour. This is different to DAO where tokens are used to vote for directions or ideas to work on. Here we already established the plans, we need brains that can execute and are confident to put themselves in the hot-seats.

● DOT will be sold at one event from 30 Oct 2017 GMT +11 to 10 Dec 2017 GMT +11 and the MAX offered is 4 million Tokens with hard cap is USD 2.0 million. There is no minimum.

[1] This will be my second Token Offer, the first was at https://token.ozrealestates.com which showed me the grey landscape of issuing tokens. Without exaggeration, it is all about marketing, expectations and taking liberty with facts.A technically savvy investor is looking for breakthrough opportunity but much of this opportunity is limited to what is known in the real world. To disrupt as opposed to copying businesses in the real world require inside knowledge, funds and licensing. Uber and Airbnb may have pioneered the “sharing” economy but they will face plenty of headwinds once reality sinks in. For example, I recently read a whitepaper for an energy trading schema on Blockchain which is only applicable in certain states in Australia because of the law, this fact was not disclosed. So a tech-savvy investor will need to rely at least on his own business experiences in the field where the promoter wishes to disrupt (if any). On a different note, it may be generally “investors” follow a herd mentality or not wanting to be left behind. This is certainly true when backed by very organized publicity machinery focusing on future looking statements and by silencing dissent or oppositions (if any). To make it fairer, this Whitepaper includes risks, terms and conditions clearly spelled out in plain English. This means readers should read this Whitepaper in its entirety. Should I fail to complete this project’s tasks then you can take me to task as per the terms here subject to any further terms at contracting page https://token.depositoffer.com.

[2] Be that as it may, it would be better to offer Utility Tokens as opposed to Security Tokens because the main project is already on footing. I came up with the idea for deposit offer in 2000 as seen in my US Patent 7,376,612 and I don’t want busy bodies to mess around with my vision. I must have 100% ownership, possession, and control so everything is fully aligned before conceding some authority. Adding even a new co-founder is possible source of imbalance at this time. After the desired project’s tasks are implemented and on track, I would invite hire the most capable team members (herein ‘team’) on permanent basis while I focus on the second stage. An anointed co-founder will have lots of day-to-day possession, small ownership stakes, but very minimal control. And the last stage will bring investors to mix and they should be mostly aligned with financial markets. As holders of tokens you will have the difficulty tasks of nominating and hiring the team using your tokens.

[3] My invention is like “ebay” of money which means offering deposits (like cash or crypto-currencies) to solicit bids in the hope that competition between banks will provide higher interest return, corresponding to the timing and certainty of securing these deposits. Of course when I invented deposit offer more than 17 years ago, Bitcoin was not around but since it is now capable of being used as a currency (and even legal tender in Japan), and further as there is no central bank to ‘determine’ the rates, it is an excellent candidate for my deposit auction to test this. This means banks which are willing to take crypto-currencies would be opening a new door to lending crypto-currencies as opposed to merely taking them as collateral. Of course, given the high volatility in the crypto-market the only borrowers may be shorters rather than mums and pops wanting to purchase a property using crypto-currencies. This high volatility also reflects how tightly the liquidity and imbalance which is not healthy in the long run. While there are futures and options market for BTC (for example https://www.deribit.com/main#/options), I noticed the spread is very wide and will be wider with the increasing value for BTC. One way to cure this is to make crypto-currencies main stream by borrowing and lending to give effect to the multiplier formula to work, in theory increasing circulation.

[4] In the traditional finance world, central banks determine interest rates, banks then determine inter-bank rates amongst themselves (say LIBOR) and there is the retail market for loan/deposits, ie what the banks will offer for your money or charge in general. That so called “rate” can either break or make a banker’s bonus, or by manipulating it to their advantage. You can look at https://en.wikipedia.org/wiki/Libor_scandal but this only reflects the whales that did not get away. Currently the supervision of LIBOR is under a new entity named ICE which is ultimately required to anchor its Libor calculations in more concrete transactions data which would be more difficult to manipulate (Barclays as part of the deal has been submitted actual transaction data) but the other Financial Institutions is still business as usual despite being fined a total of 9 billion dollars. It is well known several banks have been accumulating crypto-currencies since 2011. It is likely banks/institutions that have holdings of crypto-currencies will dominate its rate in the near future (acting as market-makers). Think of crypto-currencies like ‘diamonds’ (each unique and unbreakable) and consider why it is sexy to own some even though you may not have any clue what to do with it. Either way, we are all participants in this historical moment as we sit on the edge wondering if we have outsmarted others or stupid, like the Dutch felt before and after in 1636-7. Incidentally, the Dutch is credited for creating the modern banking system as we know today after curing themselves of this mania.

[5] Without deposits to borrow from, the banks have very little to lend which will affect their on-going profitability. This happened in 2008 when banks refused to lend to each other as the risk of default is high and it’s a dog eat dog world. With this invention US Patent 7,376,612, banks now could have a third avenue to borrow directly from individuals/syndicates or private depositors other than another Bank or worst the Reserve Bank unless the bank is one that is too big to fail. It is commercially risky for any banks to openly announce that they need to borrow. This may even cause panic and runs. So with this invention, the depositor advertised anonymously, and let banks access a ready market of potential cash/deposits without any announcement/publicity by simply bidding higher to acquire depositors.

[6] On the opposite side, individually each one of us lacks negotiation power but as a group, we are more persuasive. The issue is there is no clear mechanism to aggregate depositing requirements; banks need to predict and manage matching its lending requirements like offering attractive rates when required for fixed periods. What I am looking at is a platform where every depositors’ requirements can be analyzed, filtered and offered in accordance to demand in real-time. For example, while most banks would know their own depositors’ requirements and terms, but they are not sharing this information with others. Here with depositors’ input, we can build forward looking information that can be useful to those who needs to manage their cash/liquidity position

[7] And for the first time, depositors can offer anonymously on this platform prior to the expiry of their terms and to accept or reject a counter offer. For example, if Bank A gives you 5% rate for amount to 5K and 6% for amount above 5K and you only have 5K. In this platform, you can find someone with 1K and combine it for a 6% return. Effectively, you assisted yourself and a stranger with an extra 1% return, and most importantly the bank is happy to give this 1%. This is a simple example to illustrate super-sizing. My platform is to determine rates for all kind of currencies and also crypto-currencies, it is a transparent market driven platform and further enabling users to swap assets subject to certain conditions (as claimed in my US Patent 7,376,612). This means instead of receiving cash/interest, one can receive BTC or Gold or share/part of profits (Islamic) even a memorable vacation. I want banks to use its creativity to satisfy their depositors and may even match any of its borrowers to offer services in-lieu. Currently loan documents are contracted that borrowers must repay in cash and not in kind.

[8] Depositoffer.com is a project that started under KHKWAN & CO (Advocates, Solicitors & Patent Agent) in Malaysia and now is taken over by KHAI KWAN (Lawyers) in Sydney, Australia. Once the Project Tasks are completed, we will be formalized it by a C-structured Delaware company.

[9] Our reason for offering Utility Tokens (and you should read the Risk, Terms & Conditions at paras 32-90 carefully) is to provide the following for the holders:

A. Nominate and confirm the Team into place after Token Offer has been completed or not more than 3 months later using a special purpose VOTING mechanism. The Team requires a Co-Founder (Technical), a Chief Marketing Officer and 2 coders. They all need to be experienced and have hands-on skills as there will not be any other employees save for interns, until the project tasks are completed. The project tasks are (1) wagering and (2) data streaming platforms.

B. Tokens are used as payments to access the Platform under different level of memberships.

[10] The above proposed require digital Tokens which will be issued based on ERC 20 Standard (similar to ether on the Ethereum Network) as a form of payment. This way the entire transactions are taken care of by using “smart-contracts” which are auditable and traceable on said network.

[11] Our Project Tasks is (1) a wagering system for users to predict the interest rates of currencies and (2) a data streaming platform (herein ‘Project Tasks’). Currently, deposit offer is merely an auction site to determine the interest of deposits as bided by various institutions. When our Project Tasks eventually mature to full independent offerings, and with 3rd party integration, we will be able to continue sustaining our free basic services for all by offering an alternative to those charging exorbitant fees.

[12] IT IS MOST IMPORTANT TO READ THE TERMS OF THIS TOKEN OFFERING AS THEY APPEAR FROM PARAGRAPHS 32 to 90 WHICH MUST BE AGREED TO THE SAME UPON SCROLLING/CLICKING TO BUY ON OUR WEBSITE.

1. Introduction

[13] Depositoffer.com is an online auction website designed to solicit deposit rates from financial institutions. Currently, it is only available for fiat currencies and crypto-currencies is being tested out. The main issue is that banks preferring to take crypto-currencies are rare and wish to remain anonymous. The core invention can be found in US Patent 7,376,612.

[14] Where our proposed Tokens will come into play is empowering the users to use them for nominating the team members at the outset and after the Project Tasks have been completed, the tokens will be used for said Project Tasks.

[15] As we mentioned above, we provide not only an auction platform to discover the best rate, we desire very much to provide predicative pricing mechanism where users can be rewarded if they are able to predict the interest rate correctly.

[16] “DOT” – Depositoffer’s digital token - is used in the wagering system. DEP token is a standard Ethereum ERC20 token.

1. Services where our Tokens will be applicable.

A. Team Members

[17] When I was doing my first Token Offer, I received a number of complaints from strangers accusing me of being a scammer because I am one man team, my website is unprofessional etc. I find this ridiculous and challenged them to file a complaint with the respective authority in my jurisdiction including the Law Society of New South Wales as I am member. There is clearly a lot of ICO scammers but scammers are smooth operators and they would never put ONE man team as I did is obvious. In fact, they would include as many A studded names as they can to convince. I also reflected on the many hiring practices over the years. I am adverse to those who are not full-time. I even created an on-line interview process on slack with strangers and asking them to create 2 persons team out of the 4 projects (under Bankguru at angel.co) which I was working on. The technical side is often easy as one need only to complete the tasks, there is no right or wrong answers as long as one can justify it. The only thing the candidates were not told was that amongst those who are being “interviewed” are my own staff pretending as candidates as well. I want to get feedback from them to gauge their interaction. I also read Peter Thiel’s Startup Class Essay and how Paypal (as it was then a start-up) hires copies of them (mainly coders). The reason says Peter is simple, you need to get people whom you like and trust to work with. The trouble with that suggestion is that, it may work when one is still in the 20s but not when in the 50s when the people I am acquainted are happy where they are. In fact, there is no reason for them to work at all. I need colleagues who are very hungry and more persistent than me, so that we can over-come anything as there is no turning back in a startup. That is a tall order for any start-up. So I decided the best way to do this is let token purchaser to decide by voting.

[18] If funds could be raised through this Token Offer, a few “carrots” will be offered for some participants/purchasers who may want to take up this challenge. So instead of jumping over hoops the “Apprentice” way, we will have participants depending on their skills hustling to get said Project Tasks done. I want to open this to as many as possible so it can be by remote or onsite. Participants must do this full time. Being part-time, holding other jobs, or bringing on consultants or advisors to do important work are never going to work in my books. Anyone can nominate themselves or let others vote for them using DOT Tokens. The 12 participants with most votes under each skill set will form 3 teams and compete with each other until a clear winner is decided. Participants select amongst themselves to form Teams. Most importantly, is to answer whether it is possible to get total strangers to execute a stated mission or Project Tasks they may not even care about save for enriching themselves at the end. If there is no clear winner, we have to go back to the traditional way of hiring.

B. Predictive Rates. (1st Project Task)

[19] As far as deposit rates for fiat currencies, this is often decided by the Central Banks of those currencies leaving not much room to predict, said Banks will either make announcements or through policy speeches give hints. This is not so for crypto-currencies as there is no central authority. The best determinant is often by competitive bids in a transparent manner.

[20] Further, one of the Project Task is to provide a way for participants to predict the winning bid rate (fiat and crypto) for the deposits online before the auction is completed. The participant with the closest rate to the actual rate will win a prize (TBA). In this way we also have a forward looking mechanism by collectively taking into account participants’ input which may assist the depositor or banks.

[21] While it is not that difficult to get deposit rates (fiat currencies) from Banks by simply going to their websites, or to comparative sites, what many may not be aware is that those rates are retail and is tailored for general consumption. This is like walk-in-rate at a hotel as compare to last minute deals online. We are taking this one step further by assisting the banks to a captured audience/depositors who want better last minute deals.

C. Data Feeds (2nd Project Task)

[22] These data feeds are absolutely crucial to understanding how interest rates works and may affect the costs of funding. Depositoffer will create data feeds that monitor the deposit market auctions.

[23] Most investors are looking for an information edge and are willing to pay for that edge. Newcomer investors lack both the skills and the information to make confident decisions. Our heat-map can instantly show where parcels of currencies are being sought using data feeds, and there will be others delivered these streams directly to our subscriber users (using Tokens). As long as we control the data feeds, we control the knowledge. We will put our information in front of our target market as soon as the first streams are mature. These streams will also be available on our mobile app, so that target buyers can find and study market trends anytime, anywhere. As time passes we will add more and more relevant data feeds so that the value of the service grows.

D. Block-Chain

[24] It seems by market practice, a Block-Chain is a must in all Whitepapers seeking to offer tokens. It seems that everyone is wedging a block-chain into anything is fair game. I will be blunt here. A Block-Chain is merely a record like normal database (except data cannot be deleted/modified this is why they call it immutable) and it is chained because it is linked to the last record (unlike ordinary data which is not linked), and it is distributed which means someone else on the internet has a copy and designed to be synchronized. The data which is a “transaction ID” is encrypted. When BTC was created after the GFC, the anonymous creator wanted a way to confirm executed transactions so s/he decided that since s/he can’t trust anyone on the network, s/he set rules that says that the first computer (or node) that solves the transaction ID will be rewarded with some tokens and records the transaction on the block, the other computers then confirm that Txn ID is also correct and the more confirmation means the transaction is safely recorded and move to the next block. Basically it means in layman terms, several computers with its own database are running and checking the network for transactions to decipher and board-casting results to confirm. That being the background, one can understand that Block-Chain is great for transactions as it keeps immutable records once it has “mined” it without trusting anyone on the network. Our proposal is not about transactions, it is about an auction system to determine the interest costs of currencies including crypto-currencies. While one can argue that each auction’s result can be a transaction, and therefore recordable for all to see, I still don’t think it is necessary to have a Block-Chain adding unnecessary complications just so one can record transactions. By using a central database, I consider as long as there is no conflict of interest and there is none as we do not operate a bank nor associate with a bank, then it will not be an issue.

1. The Business

a. Market size.

[25] The banks do not charge for querying their rates. Banks are market makers for fiat currencies but may not be for crypto-currencies. There are comparative sites which compare interest rates borrowing and deposits which free and they earn their keeps by referral fees or advertisement. However, there is evidence to suggest that there are different rates for different folks, like private banking rates are slightly better than ordinary folks’ accounts. Walk-in-rates are generally ‘standard’ unless there are ‘hot special’ which the banks may run from time to time at branches, its reach is limited and localized. In so far as crypto-currencies, there are no determinative interest rates as yet. The reason is unknown and it could be due to its distributed nature as there is no controller or central bank as in fiat currencies. There are crypto-exchanges who may quote interest rates on lending basis for shorters but it is not wide spread. The market capitalization of Bitcoin or BTC is known to be around USD 73.5 Billion in August 2017 and BTC reached above USD 5000 recently. At an interest rate of 1% is roughly equivalent to $50 PA.

b. How much of the market are going to capture and how ?

[26] Our vision is to capture both fiat and crypto-currencies markets taking full advantage of the latter. We have already built an auction system (for larger amounts) and a quick bid system for smaller amounts where the decision is almost instantaneous or no waiting. We wanted a transparent market where the bids are open and competitive. The bidders may remain anonymous to protect their identities as it would not be commercially sound to bid at a higher rate on our auction and at the same time offer a lower deposit rate elsewhere or at the bank’s premises. We also want quality bids as opposed to quantity hence the system is open to all authorized banking or financial institutions. When the auction finished, the depositor/offeror who is anonymous may choose a suitable bid and contact the bank directly to conclude their arrangement outside of the platform. At this stage we do not want to be in the funds handling business since banks are much better equipped. We can only capture the best bid and amount through this system which will be accessible to those who are members otherwise delay data will be offered to the public. However, it does not mean non-members are barred from using this system. They could either buy DOT or daily passes available.

c. Business model, generation of revenue and IP.

[27] Our business model is to encourage competition for funds between banks which by itself is a huge assumption to make. Why would banks want to compete with each other ? The answer lies with the profitability of banks, if they are small they tend to be regional and if they are big they tend to be city based. However with the improving technology including competition in the lending side with peer to peer platforms, banks are more likely to compete with new entrants to survive. Another factor that I took into account is the over the last 20 years, banks have been shedding employees, geared-up information technology and compete on generic products using external brokers like mortgage-brokers. No much effort was put into raising deposits instead relying on cheaper loan-stocks or bonds. The banks had rarely focused on what their individual clients’ needs are instead designing products to suit the masses, like housing loans. Recently, banks have begun to design “planning” or “saving” tools/applets for their clients in the hope of understanding their behavior so they could manage funding better. By encouraging savings is a first attempt to shift funding back to deposit takings. To encourage real competition is not easy as banks is ingrained to prefer gimmicks like wining prizes to show how they appreciate the business. Our marketing effort will therefore target smaller banks which must be fully insured first to expand their reach across the globe. As claimed in US Patent 7,376,612, our secret sauce is the technical ability to swap cash for other assets and this will be the best new depositing product since securitization was invented.

[28] Our revenue model is one of membership plus special passes for non-members who also wish to access and data feed, both will be continuing long aftr the DOT are all spent. There will be the usual promotional advertisement commonly found in comparative websites to direct some traffic in the early days to supplement. We envisaged our main income will come from data intelligence driven by predictive programs which will be licensed. As we mentioned, Project Task 1 is a wagering system where users/members can use DOT to determine the interest rates of the various on-going auctions. Provided they determine the rate correctly or being the closest, they will stand a chance to win a prize (TBA). This method is preferably as the participants have ‘skin’ in the game rather than merely picking a number from the air. Ultimately, we wanted a transparent system to replace what is currently known as “averaging” non-transacted rates submitted by various banks for example in setting LIBOR (save for Barclay Bank which must submit actual transactions). For example using our wagering system can be used as a gauge as to how far off or near to the rate. Of course following the steps of others, we will also encourage the latest branch of Artificial Intelligence or Machine Learning to provide guidance to our vision as well.

[29] There is no general barrier to entry in the deposit auction platform save for our US Patent 7,376,612 but this is applicable only in the US market (where the Server or Cloud is located) and not elsewhere. As mentioned the crypto-currencies market is not bound by any specific geo-location and therefore, we do not anticipate the above Patent will assist much.

1. Bounty

[30] We will be offering Bounty for sizzling up the current depositoffer.com (php and MySQL) and the token landing-contracting website (basic bootstrap). We will also be offering Bounty for designing/coding a Dapp that will take our DOT Token for selecting/voting participants for the dream TEAM. Originally, my idea is a simple voting mechanism (ie to vote Tom, send Token to Address A, to vote Dick send Token to Address B kind of platform) but I think this can be improved. We will also be offering Bounty for publicity about our Token Offer.
(Please contact admin at depositoffer dot com)

1. Milestones

[30A]

6.Conclusion

[31] We believe that having these Project Tasks and related use cases for Ethereum will develop DepositOffer into a sustainable ecosystem - a backbone that caters for all currencies to act as defacto interest costs for fiat currencies and for crypto-currencies. As the Blockchain industry expands, the number and value of crypto currencies or alt coins will increase in proportionate to the services offered, the market and demand for our DOT will also grow. In general because crypto markets are borderless, open 24/7, subject to minimal regulatory control (which may change in the future), and offer huge potentials for growth, we have chosen this method to make an offering which also represents an incredible, new opportunity for users or investors over traditional markets (such as ordinary shares). Moreover, unlike other offerings which have merely an idea waiting to be implemented, DepositOffer is already a functioning platform.

1. Summary of Token Sale (subject to chances)
   [32A]

Start: Oct 30th, 2017 at 1:00 pm GMT
Ending: 10 Dec 2017 or when the Maximum cap is reached
BTC/ETH accepted
Minimum cap: No
Maximum cap: To be determined (equivalent to USD 2.0 million)
Token name: DOT

A. The price for DOT token will be 400 per 1 ETH. Say ETH is worth USD 300 to reach USD 2.0 million, we would need averaging 6,700 ETH which means total DOT will be around 2.68 million. In this case, we would be providing 4.0 million DOT, with balance allocated as below.

B. Contribution will be capped at $ USD 2,000,000 equivalent in Ether. Due to recent Ether's volatility, cap calculated in Ether will be announced on the day of token launch.

C. There is PRE-SALE PRIVATE OFFERING (Please contact us)

D. DepositOffer’ token (DOT) distribution/allocation
65/20/5/10 distribution: 65% will go to the Purchasers, 20% to the legal entity working capital/hiring/bonus from time to time when a market is established, 5% rewards/bounties (for content and looking forward price/initial Project Tasks), and 10% to the founders and early contributors who HAD OR HAVE worked on DepositOffer. Founders and early contributors will all have vesting.

E. Founder vesting
Vesting is necessary, with no exceptions. Our main goal is to add said Project Tasks. That's why vesting is our way to show responsibility to all of our contributors. Founders and early contributors will have 4 years vesting with 12 months cliff.

F. Funds management
The funds (65% paid in by Purchasers) after converted will be held in a Trust Account (with a legal firm to be decided) used for the following :
50% - Project Tasks released in accordance to Miles-Stones
30% - Operation (including payments to co-founders & early contributors)
15% - Marketing
5% - Legal

1. Risks and Terms & Conditions

[32] The following Terms & Conditions (“Terms”) govern the sale of the cryptographic token — DepositOffer Token (“DOT”) — to purchasers of DOT (“Purchasers” collectively, and “Purchaser” individually) and is an integral part of this Whitepaper. Purchaser must understand the Risks below and agreeable to the Terms as explained herein. Please note that DOT is not being offered or distributed to U.S. persons. If you are citizen, resident of, or a person located or domiciled in, the United States of America including its states, territories or the District of Columbia or any entity, including, without limitation, any corporation or partnership created or organized in or under the laws of the United States of America, any state or territory thereof please do not purchase or attempt to purchase DOT.

[33] The Depositoffer’s current auction & settlement platform was developed by Chris Kwan. For the purposes of adding new features such as data-streaming and predictive pricing under a more formalized contracting or employment relationship which must necessarily involve money as opposed to passion, and to realize such development, Depositoffer is proposing to issue DOTs as Tokens to pay for said features also known as Project Tasks.

[34] As stated on its cover, this Whitepaper is not a solicitation for investment and does not pertain in any way to an offering of securities in any jurisdiction. Participation in this sale will not provide Purchaser with a “security” or “equity” stake in DepositOffer or its controlling entity. The ownership of DOT Tokens is a reward based return and not intended to be any form of loan based return. The digital token known as “DOT” is only useful for identifying Purchaser’s contribution to this sale and to be used exclusive for services on DepositOffer which are subject to terms and conditions at the material time. If these proposed Project Tasks are successfully implemented, owners of DOT tokens will be able to use these resulting services and/or even ETH in acknowledgement of their support.

[35] This Section also describes the associate risks involved with DepositOffer’s Token sale in which the cryptographic token with symbol “DOT” is sold, as well as the initial creation of DOT. Parties may be interested in purchasing DOT (the token) in the DepositOffer Token sale to support the development of the DepositOffer’ services. Such parties, individuals, businesses should carefully weigh the risks, costs, and benefits of acquiring this Token.

IMPORTANT
(No Ownership Rights)
[36] Ownership of DOT carries no rights expressed or implied. Purchases of DOT are nonrefundable and non-exchangeable. Purchasers should have no expectation of influence over governance of the DepositOffer’s platform AT ALL.

[37] By participating as a Purchaser in the sale of DOT, Purchaser acknowledges and represents that Purchaser has carefully reviewed this Terms and fully understand the risks, costs, and benefits of purchasing DOT and agrees to be bound by these Terms. As set forth further below, Purchaser further represents and warrants that, to the extent permitted by law, Purchaser is authorised to purchase DOT in Purchaser’s relevant jurisdiction, are of a legal age to be bound by these Terms, and will not hold DepositOffer, its parent and affiliates, and the officers, directors, agents, joint ventures, employees, developers, volunteers and suppliers of DepositOffer, now or in the future and any other member of the DepositOffer’s Team (collectively all people who contribute to the DepositOffer’s platform herein ‘Team’) liable for any losses or any special, incidental, or consequential damages arising out of, or in any way connected to the sale of DOT.

WARNING: DO NOT PURCHASE DOT IF YOU ARE NOT AN EXPERT IN DEALING WITH CRYPTOGRAPHIC TOKENS AND BLOCKCHAIN-BASED SOFTWARE SYSTEMS

[38] Purchases of DOT should be undertaken only by individuals, entities, or companies that have significant experience with, and understanding of, the usage and intricacies of cryptographic tokens, like bitcoin (BTC), and blockchain-based software systems. While the DepositOffer’s Team will provide general guidelines for user usage and storage of DOT before the DepositOffer’s features becomes operational, Purchasers should have functional understanding of storage and transmission mechanisms associated with other cryptographic tokens. While the DepositOffer’s Team will be available to assist Purchasers of DOT during and after the sale, DepositOffer will not be responsible for lost ETH or DOT resulting from actions taken by, or omitted by Purchasers.

[39] Note, in particular, that DOT Purchasers should take great care to write down their wallet password and not lose it so as to be sure that they will be able to access their DOT. If you do not have such experience or expertise, then you SHOULD NOT purchase DOT.

WARNING: CRYPTOGRAPHIC TOKENS OF VALUE MAY EXPERIENCE EXTREME VOLATILITY IN PRICING

[40] Cryptographic tokens that possess value in public markets, such as BTC, have demonstrated extreme fluctuations in price over short periods of time on a regular basis. A Purchaser of DOT should be prepared to expect similar fluctuations, both down (to zero) and up, in the price of DOT denominated in ETH or United States dollars (“USD”) or Australian Dollar (“AUD”) or other fiat money of other jurisdictions. Such fluctuations are due to market forces and represent changes in the balance of supply and demand. DepositOffer cannot and does not guarantee market liquidity for DOT and therefore there may be periods of time in which DOT is difficult to buy or sell or at very large spread which may result in losses.

[41] Additionally, due to different regulations in different jurisdictions and the inability of citizens of certain countries to open accounts at exchanges located anywhere in the world, the liquidity of DOT may be markedly different in different countries and this would likely be reflected in significant price discrepancies. Please understand that the Project Tasks are not even developed and that the market for these DOT will be very shallow and thus will be harder to buy and sell these tokens without effecting the price on the market.

[42] By purchasing DOT, Purchaser expressly acknowledges and represents that Purchaser fully understands that DOT may experience volatility in pricing and will not seek to hold DepositOffer’ Team liable for any losses or any special, incidental, or consequential damages arising from, or in any way connected to the sale of DOT.

WARNING: THE PURCHASE OF DOT HAS MANY RISKS

[43] The purchase of DOT carries with it a number of risks. Prior to purchasing DOT, Purchaser should carefully consider the risks listed below and, to the extent necessary, consult an independent lawyer, accountant, or tax professional. If any of the following risks are unacceptable, Purchaser should not purchase DOT. This is particularly true for those purchasing with their retirement or savings. By purchasing DOT, and to the extent permitted by law, Purchaser agrees not to hold DepositOffer’ Team liable for any losses or any special, incidental, or consequential damages arising from, or in any way connected, to the sale of DOT, including losses associated with the risks set forth below. NOTE following list of risk is not exhaustive and Purchaser must not rely on them only.

RISK

8.1. Obligation to Determine If Purchaser Can Purchase DOT in Purchaser’s Jurisdiction

[44] The DepositOffer’ Token sale constitutes the sale of a legal software product under Australian law. This product sale is conducted by DepositOffer, which is controlled by KHAI KWAN, an Australian entity, operating under Australian law having its address at Level 11, 65 York St, Sydney, Australia. It is the responsibility of each potential Purchaser of DOT to determine if the Purchaser can legally purchase DOT in the Purchaser’s jurisdiction. We cannot offer this to US Citizens as stated in para [32] above.

8.2. Acceptance of Terms and Conditions of the DOT Sale

[45] As a first step in the purchase process, DepositOffer will present the Purchaser with these Terms, and any other associated documents (if any), and that Purchaser is not a citizen of United States of America on our website to click. By scrolling down (or clicking yes checking the boxes as the case may be), the Purchaser: (i) consents and agrees to this Terms; (ii) represents and warrants that the Purchaser is legally permitted to purchase DOT in the Purchaser’s jurisdiction and is legally permitted to receive products of Australia origin (iii) represents and warrants that the Purchaser is of a sufficient age to legally purchase DOT or has received permission from a legal guardian who has reviewed and agreed to these Terms; (iv) represents and warrants that the Purchaser will take sole responsibility for any restrictions and risks associated with the purchase of DOT as set forth below; (v) represents and warrants that Purchaser is not exchanging Ether (ETH) for DOT for the purpose of speculative investment; (vi) represents and warrants that the Purchaser is acquiring DOT for supporting the development of said Features on an existing platform, or to facilitate development, testing, deployment and operation of decentralised applications on the Ethereum Platform; and (vii) represents and warrants that the Purchaser has an understanding of the usage and intricacies of cryptographic tokens, like Ether or BTC, and blockchain-based software systems.

8.3. Independent Confirmation of Purchases

[46] During the purchase process on the https://token.DepositOffer.com website, DepositOffer will provide Purchasers with a unique intermediary ETH address. Using this address, Purchasers can track and confirm that the Purchaser’s ETH has been received at that address.

[47] Knowledge of the unique intermediary ETH address does not constitute a purchase receipt or indicate in any way that any party possessing such knowledge has rights to or ownership of the purchased DOT.

[48] Transmission of ETH to said ETH address or any address provided (save for a fraudulent address which is beyond the control of DepositOffer) does not constitute a purchase until the Purchaser’s ETH had been confirmed on the network.

8.4. Loss of the Purchase Password Will Cause the Loss of the Purchased DOT

[49] As part of the purchase process, and in order to purchase DOT, the Purchaser will need to provide an ETH address. The Purchaser ETH address will be used to send the DOT token to. The Purchaser ETH address will store the purchased DOT.

[50] Purchaser must keep the Purchase ETH address Password safe and not share it in any way or with anybody and DepositOffer will never ask for this. The Purchaser’s ETH address Password is essential for accessing the Purchaser’s DOT. Purchaser’s loss of the Purchaser’s ETH address Password will cause the loss of the purchased DOT. Unauthorized access by any party to a Purchaser’s ETH address Password along with access to the Ethereum wallet, will enable that unauthorized party to access the purchased DOT and the DOT will be lost.

[51] By purchasing DOT, and to the extent permitted by applicable law, the Purchaser agrees not to hold any of the DepositOffer’ Team liable for any losses or any special, incidental, or consequential damages arising out of, or in any way connected to, Purchaser’s failure to properly secure and keep private the Purchaser’s ETH address Password and/or the Purchaser’s Ethereum wallet.

8.5. DOT Will Only Be Available For Sale on the DepositOffer Website

[52] DepositOffer will only sell DOT through the DepositOffer website, available at https://Token.DepositOffer.com. To the extent that any third-party website or service offers DOT for sale during the DepositOffer Token sale or facilitates the sale or transfer of DOT in any way during the DepositOffer Token sale, such third-party websites or services are NOT sanctioned by DepositOffer or its parents and affiliates and have no relationship in any way with the DepositOffer’s Team. As a result, DepositOffer prohibits the use of these third-party websites or services for the purchase of DOT prior to the end of the DepositOffer Token sale.

[53] Purchasers should take great care to ensure that the URL of your web browser indicates that it is using a hypertext transport protocol secure connection (“https”) and that the domain name is correct. By purchasing DOT, and to the extent permitted by applicable law, the Purchaser agrees not hold any of the DepositOffer Team liable for losses incurred by any person, entity, corporation, or group individuals or groups who uses a third party service to purchase DOT.

[54] The only official and authorised DOT sale website URL is on https://Token.DepositOffer.com
8.6. Fraudulent Attempts to Double Spend ETH

[55] DepositOffer will monitor all potential transactions for fraudulent attempts to double spend ETH. Any detected double spend of ETH will result in no DOT being transferred to the associated wallet address.

8.7. DepositOffer Will Not Purchase DOT During Token Sale

[56] DepositOffer warrants that it or related entities will not purchase DOT in its own sale. Furthermore DepositOffer warrants that it will not purchase DOT from any third party, or acquire DOT in any manner, or acquire future control of DOT, during and up to one year after the period of the DepositOffer Token Sale.

8.8. Certain Risks Associated with the Purchase of DOT

[57] The purchase of DOT carries with it significant risk. Prior to purchasing DOT, the Purchaser should carefully consider the below risks and, to the extent necessary, consult an independent lawyer, accountant, and/or tax professionals prior to determining whether to purchase DOT.

8.8.1 Risk of Dissolution of The DepositOffer Due To a Diminishment in the Value of the ETH Sale Revenue
[58] All Purchasers are paying ETH or other crypto-currencies to purchase DOT. In the past few months the price of ETH in USD, AUD and EUR have NOT been relatively stable. It is possible that the value of ETH will drop significantly in the near future, depriving DepositOffer of sufficient resources to continue to operate. In order to guard against this risk, DepositOffer intends to periodically convert proceeds from the sale of DOT into fiat currencies instead of maintaining ETH or other crypto-currencies. In order to cover the initial startup costs, DepositOffer will convert 2000 Ether to fiat after a successful Token sale.

8.8.2 Risk of Unauthorised Access to a Wallet (We need to repeat again)
[59] Any third party that gains access to the Purchaser’s Ethereum wallet and potentially access the wallet by deciphering or cracking the Purchaser’s password. To guard against any improper access to Purchaser’s wallet, the Purchaser should select a highly secure Purchase Password for the Purchaser’s DOT wallet. Purchaser must take care not to respond to any inquiry regarding their purchase of DOT, including but not limited to, email requests purportedly coming from the DepositOffer.com or similar looking domain.

8.8.3 Risk of Regulatory Action in One or More Jurisdictions
[60] Cryptocurrencies have been the subject of regulatory scrutiny by various regulatory bodies and has been long known to facilitate as the criminal currency in the dark web. The DepositOffer’ Features and DOT could be impacted by one or more regulatory inquiries or regulatory action, which could impede or limit the ability DepositOffer to continue to develop the proposed features and its underlying platform.

8.8.4 Risk of Insufficient Interest in the DepositOffer’ features and platform
[61] It is possible that the DepositOffer’ features will not be used by a large number of external businesses, individuals, and other organizations and that there will be limited public interest in support via our platform. Such a lack of interest could impact the development of the DepositOffer’ features & platform. DepositOffer will contract with developers to help build the DepositOffer’ features and is working with other third-party developers around the world to create an interest in the DepositOffer’ platform. However, it cannot guarantee or predict the success of its own development efforts or the efforts of other third parties.

8.8.5 Risk Associated With the Development of Other “Similar” Platforms like DepositOffer

[62] DepositOffer is first to offer a patented interest rate determining and pricing solution. It is foreseeable other organisations, companies, and groups, attempting to build a similar platform. While DepositOffer anticipates being the original first, competition from these alternative platforms may impact the success of the DepositOffer’ features/project tasks and even the ability of DepositOffer to operate.

8.8.6 Risk that the DepositOffer Platform, As Developed, Will Not Meet the Expectations of Purchaser

[63] The Purchaser recognizes that the DepositOffer’s proposed features presently being developed may undergo significant changes before release. Purchaser acknowledges that any expectations regarding the form and functionality of the DepositOffer’ Features held by the Purchaser may not be met upon release, for any number of reasons including a change in the design and implementation plans and execution of the implementation of the DepositOffer’ features which may limit the functionality of the overall platform.

8.8.7 Risk that the DepositOffer Platform May Never be Completed or Released
[64] Purchaser understands, that while the DepositOffer’ Team will make reasonable efforts to complete the DepositOffer’ features, it is possible that an official completed version may not be released and there may never be any operational Features.

8.8.8 Risk of Theft
[65] Hackers or other groups or organizations may attempt to steal the ETH revenue from the DepositOffer’ Token Sale, thus potentially impacting the ability of DepositOffer to develop the Features & underlying platform or to operate DepositOffer as a whole. To account for this risk, DepositOffer has and will continue to implement comprehensive security precautions to safeguard the ETH obtained from the sale of DOT and obviously the platform too.

8.8.9 Risk of Weaknesses or Exploitable Breakthroughs in the Field of Cryptography
[66] Over time advances in code cracking, or technical advances such as the development of quantum computers, could present risks to cryptocurrencies and the DepositOffer’s DOT, which could result in the theft or loss of ETH or DOT. To the extent possible, DepositOffer intends to update the protocol underlying the DepositOffer’ protocol to account for any advances in cryptography and to incorporate additional security measures, but cannot it cannot predict the future of cryptography or the success of any future security updates.

8.8.10 Risk of Ether Mining Attacks

[67] As with other cryptocurrencies, any features relied on the Ethereum network will be susceptible to mining attacks, including but not limited to double-spend attacks, majority mining power attacks, “selfish-mining” attacks, etc. Any successful attacks present a high risk to the DepositOffer’s features, expected proper execution and sequencing of ETH transactions, and expected proper execution and sequencing of contract computations.

8.8.11 Risk of Rapid Adoption and Insufficiency of Computational Application Processing Power on the DepositOffer’ Network

[68] If the DepositOffer’s platform is rapidly adopted, the demand for transaction processing could rise dramatically and at a pace that exceeds the supporting rate. Under such a scenario, the entire DepositOffer’s platform could become unstable and DepositOffer’s proposed features will fail.

8.9. All Purchases of DepositOffer tokens (DOT) Are NonRefundable

[69] ALL PURCHASES OF DOT TOKENS ARE FINAL. PURCHASES OF DOT ARE NONREFUNDABLE. BY PURCHASING DOT, THE PURCHASER ACKNOWLEDGES THAT NEITHER DEPOSITOFFER NOR ANY OTHER OF THE DEPOSITOFFER’S TEAM ARE REQUIRED TO PROVIDE A REFUND FOR ANY REASON, AND THAT THE PURCHASER WILL NOT RECEIVE MONEY OR OTHER COMPENSATION FOR ANY DOT. ONCE THE PURCHASER RECEIVES HIS OR HER DOT TOKENS AFTER THE SALE, THEY ARE FREE TO SEND OR SELL THEM TO ANYONE OF THEIR CHOICE.

8.10 Taxation of DOT token and Taxation Related to the DepositOffer Token sale

[70] DepositOffer makes no representations concerning the tax implications of the sale of DOT or the possession or use of DOT. The Purchaser bears the sole responsibility to determine if the purchase of DOT with ETH or the potential appreciation or depreciation in the value of DOT over time has tax implications for the Purchaser in the Purchaser’s home jurisdiction.
[71] Purchasing DOT, and to the extent permitted by law, the Purchaser agrees not hold any of the DepositOffer’ Team liable for any tax liability associated with or arising from the purchase of DOT.

8.11. Privacy

[72] Although DepositOffer requires that Purchasers provide an Ethereum address, to the extent permitted by the law, DepositOffer will not publish any identifying information related to an DOT purchase, without the prior written consent of the Purchaser.

[73] Purchasers may be contacted by email by DepositOffer regarding a purchase. Such emails will be informational only. DepositOffer will not request any information from Purchasers in an email.

8.12 Disclaimer of Warranties

[74] THE PURCHASER EXPRESSLY AGREES THAT THE PURCHASER IS PURCHASING DOT AT THE PURCHASER’S SOLE RISK AND THAT DOT IS PROVIDED ON AN “AS IS” BASIS WITHOUT WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, WARRANTIES OF TITLE OR IMPLIED WARRANTIES, MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE (EXCEPT ONLY TO THE EXTENT PROHIBITED UNDER APPLICABLE LAW WITH ANY LEGALLY REQUIRED WARRANTY PERIOD TO THE SHORTER OF FOURTEEN DAYS FROM FIRST USE OR THE MINIMUM PERIOD REQUIRED). WITHOUT LIMITING THE FOREGOING, NONE OF THE DEPOSITOFFER’ TEAM WARRANTS THAT THE PROCESS FOR PURCHASING DOT WILL BE UNINTERRUPTED OR ERROR-FREE.

8.13. Limitations Waiver of Liability

[75] THE PURCHASER ACKNOWLEDGES AND AGREES THAT, TO THE FULLEST EXTENT PERMITTED BY ANY APPLICABLE LAW, THE DISCLAIMERS OF LIABILITY CONTAINED HEREIN APPLY TO ANY AND ALL DAMAGES OR INJURY WHATSOEVER CAUSED BY OR RELATED TO USE OF, OR INABILITY TO USE, DOT OR THE DEPOSITOFFER’S FEATURES OR PLATFORM UNDER ANY CAUSE OR ACTION WHATSOEVER OF ANY KIND IN ANY JURISDICTION, INCLUDING, WITHOUT LIMITATION, ACTIONS FOR BREACH OF WARRANTY, BREACH OF CONTRACT OR TORT (INCLUDING NEGLIGENCE) AND THAT NONE OF THE DEPOSITOFFER’S TEAM SHALL BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, EXEMPLARY OR CONSEQUENTIAL DAMAGES, INCLUDING FOR LOSS OF PROFITS, GOODWILL OR DATA, IN ANY WAY WHATSOEVER ARISING OUT OF THE USE OF, OR INABILITY TO USE, OR PURCHASE OF, OR INABILITY TO PURCHASE, DOT.

[76] THE PURCHASER FURTHER SPECIFICALLY ACKNOWLEDGES THAT DEPOSITOFFER’S TEAM ARE NOT LIABLE, AND THE PURCHASER AGREES NOT TO SEEK TO HOLD ANY OF THE DEPOSITOFFER’S TEAM LIABLE, FOR THE CONDUCT OF THIRD PARTIES, INCLUDING OTHER PURCHASERS OF DOT, AND THAT THE RISK OF PURCHASING AND USING DOT RESTS ENTIRELY WITH THE PURCHASER .

[77] TO THE EXTENT PERMISSIBLE UNDER APPLICABLE LAWS, UNDER NO CIRCUMSTANCES WILL ANY OF THE DEPOSITOFFER’S TEAM BE LIABLE TO ANY PURCHASER FOR MORE THAN THE AMOUNT THE PURCHASER HAVE PAID TO DEPOSITOFFER FOR THE PURCHASE OF DOT WHERE IT HAS BEEN ADJUDGED TO BE DEPOSITOFFER’S FAULT.

[78] SOME JURISDICTIONS DO NOT ALLOW THE EXCLUSION OF CERTAIN WARRANTIES OR THE LIMITATION OR EXCLUSION OF LIABILITY FOR CERTAIN TYPES OF DAMAGES. THEREFORE, SOME OF THE ABOVE LIMITATIONS IN THIS SECTION AND ELSEWHERE IN THE TERMS MAY NOT APPLY TO PURCHASER AFFECTED. IN PARTICULAR, NOTHING IN THESE TERMS SHALL AFFECT THE STATUTORY RIGHTS OF ANY PURCHASER OR EXCLUDE INJURY ARISING FROM ANY WILFUL MISCONDUCT OR FRAUD OF DEPOSITOFFER.

8.14. Dispute Resolution

[79] All disputes, controversies or claims arising out of, relating to, or in connection with the Terms, the breach thereof, or DepositOffer’ sale of DOT including any question regarding the validity or termination of these Terms, shall be resolved by arbitration in accordance with the Australian Centre for International Commercial Arbitration (‘ACICA’) Arbitration Rules. The seat of arbitration shall be Sydney, Australia. The language of the arbitration shall be English.

[80] In deciding the merits of the dispute, the tribunal shall apply the laws of Australia and any discovery shall be limited and shall not involve any depositions or any other examinations outside of a formal hearing. The tribunal shall NOT assume the powers of amiable compositor. In the final award, the tribunal shall fix the costs of the arbitration and decide which of the parties shall bear such costs in what proportion justifiably guided by sound reasons.

[81] Every award shall be binding on the parties. The parties undertake to carry out the award without delay and waive their right to any form of recourse against the award in so far as such waiver can validly be made.

8.15. Force Majeure

[82] DepositOffer is not liable for failure to perform solely caused by: unavoidable casualty, delays in delivery of materials, embargoes, government orders, acts of civil or military authorities, acts by common carriers, emergency conditions (including weather conditions) incompatible with safety or good quality workmanship, or any similar unforeseen event that renders performance commercially implausible including unprovoked attacks on the cryptocurrencies and its own networks. If an event of force majeure occurs, the party injured by the other’s inability to perform may elect to suspend the Terms, in whole or part, for the duration of the force majeure circumstances. The party experiencing the force majeure circumstances shall cooperate with and assist the injured party in all reasonable ways to minimise the impact of force majeure on the injured party.

8.16. Complete Agreement

[83] These Terms sets forth the entire understanding between each Purchaser and DepositOffer with respect to the purchase and sale of DOT. For facts relating to the sale and purchase of DOT, the Purchaser agrees to rely only on this Terms in determining purchase decisions and understands that this Terms govern the sale of DOT and supersede any public statements about the DepositOffer’s Token sale made by third parties or by DepositOffer’s Team or individuals associated, past and present and during the DepositOffer Token sale.

8.17. Severability

[84] The Purchaser and DepositOffer agree that if any portion of these Terms is found illegal or unenforceable, in whole or in part, the Terms will be ineffective solely to the extent of such determination of invalidity without affecting the validity or enforceability thereof in any other manner or jurisdiction and without affecting the remaining provisions of the Terms, which shall continue to be in full force and effect.

8.18. No Waiver

[85] The failure of DepositOffer to require or enforce strict performance by the Purchaser of any provision of these Terms or DepositOffer’s failure to exercise any right under these agreements shall not be construed as a waiver or relinquishment of DepositOffer’s right to assert or rely upon any such provision or right in that or any other instance.

[86] Any express waiver by DepositOffer of any provision, condition, or requirement of the Terms shall not constitute a waiver of any future obligation to comply with such provision, condition or requirement.

[87] Except as expressly and specifically set forth in this these Terms, no representations, statements, consents, waivers, or other acts or omissions by DepositOffer shall be deemed a modification of these Terms nor be legally binding, unless documented in physical writing, hand signed by the Purchaser and a duly appointed officer, employee, or agent of DepositOffer.

8.19. Updates to the Terms & Conditions of the DepositOffer’s Token sale

[88] DepositOffer reserves the right, at its sole discretion, to change, modify, add, or remove portions of these Terms at any time during the sale by posting the amended Terms on the DepositOffer website (https://Token.DepositOffer.com). Any Purchaser will be deemed to have accepted such changes by scrolling or clicking or both through purchasing DOT and shall be bounded.

[89] Saved for the above, the Terms including amended Terms may not be otherwise amended except in a signed writing executed by both the Purchaser and DepositOffer. For purposes of this agreement, “writing” does not include an e-mail message and a signature does not include an electronic signature.

[90] If at any point Purchaser does not agree to any portion of the then-current version of the Terms (or as amended), Purchaser SHALL not purchase DOT.

8.20. Further Information & Notices
[91] For further information regarding this Token sale or DOT sale and Terms, please contact admin@DepositOffer.com and all notices should be sent to KHAI KWAN, LEVEL 11, 65 YORK ST, SYDNEY 2000, NSW, AUSTRALIA.

THIS WHITEPAPER AND TERMS ABOVE ARE AUTHORISED BY KHAI KWAN, PRINCIPAL LAWYER AND CONTROLLER OF DEPOSITOFFER.COM BY AFFIXING HIS SEAL BELOW.

//SEAL//

1. Founder’s Profile

[92] Khai Kwan (AKA Chris)

1. Sole Inventor named in 10 US Patents*. Studied Engineering, Environmental Law at Sydney University and Applied Finance at Macquarie University.
2. Barrister of the Supreme Court of Western Australia. Solicitor/Barrister of High Court of Australia. Advocate of the High Court of Sabah & Sarawak. Lawyer of the Supreme Court of New South Wales.
3. Worked in merchant banking, mining, taught environmental law, prosecuted patent applications and practice litigation over 20 years. Ran startups for 5 years as founder and coder for barcodeticket.com.
4. https://linkedin.com/in/khkwan
5. *US PATENT 8,650,126 - Issued 11 February 2014 – Prepaid Card payment, US PATENT 8,001,035 - Issued 16 August 2011 – Peer to Peer loan syndication system, US PATENT 7,742,996 – Issued 22 June 2010 – Printable Password Protected Instrument, US PATENT 7,660,758 – Issued 9 Feb 2010 – Vehicle Purchase Option System, US PATENT 7,493,279 – Issued 17 Feb 2009 – Loan Negotiation and Syndication System, US PATENT 7,487,126 - Issued 3 Feb 2009 - Alternative Payment System, US PATENT 7,461,010 – Issued 2 Dec 2008 – Inter-Telco Payment System, US PATENT 7,395,234 - Issued 1 July 2008 - Hedging Education Cost System, US PATENT 7,376,612 - Issued 20 May 2008 - Deposit Auction System, US PATENT 6,990,467 - Issued 24 Jan 2006 – Freight Cargo Options on the World Wide Web.
6. In the News 13 Oct 2016 – Australian Financial Review for the ebay of properties. (http://www.afr.com/real-estate/violatercom-is-the-ebay-for-property-says-sydney-lawyer-who-founded-it-20150524-gh8o22)