Acquiring DPET and participating in the My Defi Pet game involves risks that everyone should be aware of and be willing to assume after purchase. In the worst case there is the possibility of losing part or all of the tokens purchased, even the retention of them. Anyone who decides to acquire the token or wishes to participate in the project has to accept, acknowledge and assume all the risks involved.
What are the risks of investing in DPET and playing My Defi Pet?
Your main risks as of today are as follows:
- Regulations and project execution : There is a possibility of regularity in different countries where new regularities are created that affect in the future of My Defi Pet, its currency or token, pets or NFT’s and all the technology behind it. It could also affect its affiliates and the cessation of their operations in DEFIs which would make it legally impossible to operate with the token.
- Inadequate disclosure of information : As My Defi Pet is under development in design, mechanism, algorithm, code and other technical details, this could affect the whole development behind it and may lead to constant updates and changes, even if there is a white-paper with clear objectives this may be adjusted by the My Defi Pet team from time to time. The team is under no obligation to maintain token holders, including detailed information on all progress on the project.
- Competition : The market for this type of games and DEFIs is booming, where more and more competitors are appearing in all aspects. In order to keep up with the competition, it is possible that My Defi Pet may use alternatives in the development of the project that could negatively affect the future of My Defi Pet.
- Team : The My Defi Pet team consists of a large team of developers, the loss of one or more of them could partially or completely affect the development of the game. Also internal conflicts could occur in the team where it would negatively affect the whole project.
- Lack of development : There is a risk that My Defi Pet will not be executed as planned in the RoadMap or in the different objectives that are marked, in that case there could be a variety in the price of the token that could lead to difficulties for the development and the shortage of funds to continue with the project.
- Security : There is a possibility that My Defi Pet could be hacked in different ways, there are gaps within the game codes where hackers or organizations external to the game could maliciously harm its development partially or completely. There is also the possibility that a third party or company member could intentionally or unintentionally introduce weaknesses into the core infrastructure of the token or the game, making it more fragile to attack by a hacker or hacked game.
All this information is summarized in the White-Paper offered by the developers of the game My Defi Pet, this information can be found in more detail on their official website or in our White-Paper section where we provide the information of the same. Each one has the responsibility to know all this information and to assume the risks that each one sees necessary. Each and every one of us supports its development in the present and for its future, but it is up to each individual to assume all these risks that contain this type of platforms, DEFIs and the world of cryptocurrencies in general.
From defipet.net we recommend that each individual inform themselves accordingly before entering any type of coin, token or crypto for their own good. Everyone is responsible for his or her actions.