BORA EcosystemBlockchain platform ecosystemto promote content distribution and user activity

Overview

6 July 2018

1. EXECUTIVE SUMMARY

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1. Summary

2. Motivation

3. BORA Chain

4. BORA Ecosystem

5. Roadmap

6. Team

7. Advisors

8. Partnerships

9. Token Structure

BORA Ecosystem is a decentralized block-chain platform aimed to distribute internet-based content business and to promote user activity.

BORA Chain provides high transactional performance and scalability that is mandatory for content services, and ensures the independency of each content services. BORA Chain provides a structure with two tokens which mutually can converted. Internal token("BORA Point") as circulating within BORA ecosystem and BORA ("BORA Token"), an ERC-20 token.

The economic system and incentive mechanisms within the BORA Ecosystem are designed to contribute to the growth of the ecosystem, receive motivational reward, and encourage voluntary and continuous user activity.

A blockchain ecosystem platform for content distribution and to promote user activities

Content providers will have less burden to develop and maintain a new blockchain network. By utilizing the provided web interface and APIs, blockchain will be easily and quickly applied, and will be efficiently operable by using BORA Chain.

BORA Ecosystem does not require the excessive cost structures that the industries do, such as soring commission and revenue-linked commission. As a result, content providers can reduce costs and concentrate on their content services.

The platform's public relations channel and BORA Token-based event programs can dramatically improve user retention and ultimately increase the service LTV(Lifetime Value).

The user experience will become better than ever. The BORA Ecosystem will transparently publish all information. Users digital assets ("BORA Point") will have guarantee value independent of the content provider. And able to converted as BORA Token anytime.

Third-party services such as advertising, marketing, and data analysis can also be linked to our Ecosystem. Ad sponsors, beta game tests, marketing surveys and more can be conducted and participants will receive compensation for their activities.

Ultimately, the BORA Ecosystem aims to provide new opportunities and also provide beneficial value to all participants.

2. MOTIVATION

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2.1. Performance and scalability

A blockchain-based platform must be able to process large volumes of transactions quickly in order to accommodate content services such as games. Platform ecosystem growth needs to be flexible to accommodate the growth in the number and size of content providers. And the platform should be structurally independent to minimize the impact range between each content services.Projects that target a service or service platform must consider performance and scalability and incorporate it into their designs.

1. Summary

2. Motivation

3. BORA Chain

4. BORA Ecosystem

5. Roadmap

6. Team

7. Advisors

8. Partnerships

9. Token Structure

2.2. User assets

Users digital assets were traditionally dependent on content providers. As a result, the value of user assets can be easily depreciated or lost by content providers, either through their own intention, mistake, or unilateral decision to stop a service.This structure lowers user participation motive and quality. That's why content providers have had to spend a fortune, for customer acquisition cost (CAC), to acquire loyal users.

2.3. Service credibility

Content providers were able to control the recording and disclosure of information. Users were unaware of whether sensitive information was being transparently disclosed and whether the service was conducted in a fair manner. Also information recorded in the database may be altered or lost due to hacking, mistakes, or malicious intentions on the part of the content provider.Such reliability issues have brought increased unnecessary costs while lowering service quality.

2.4. Intermediary transaction

Users have been spending fortunes on digital asset trading. Fraud and excessive transaction fees have increased transaction risk and costs. Although there are specific web services that provides item transactions, fraudulent transactions still occur and commissions can be expensive.Digital assets have the potential to be lost and require high transaction costs and so they do not provide the right value to users.

2.5. Economic mechanism

Simply using a cryptocurrency does not guarantee new value creation. It is difficult to create new value if you have a cost structure that is still very similar to the existing industry, or if it causes cost problems by processing transactions directly on a public chain network that is not suitable for frequent micro-transactions.In order to create a sustainable ecosystem, we require designing an economic mechanism that creates new value and is therefore beneficial to all ecosystem participants.

2.6. Ease new entries

Currently, existing content providers would likely consider developing a blockchain-based application a burden. Because currently there are not enough sufficient development tools and also due to a fear-based environment with an unfamiliar technology. Another challenge is that new markets have risks such as upfront costs that are not needed in maturer markets.To accelerate the launch and activation of blockchain-based ecosystems, content providers need to feel safe to develop new technologies.

3. BORA CHAIN

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• BORA Chain Network• BORA Point, BORA Token Manager• BORA Infrastructure

• BORA Chain API, SDK• Identification, Membership• Operating Tools, Data Analytics

• Contents Provider (App, Web)• BORA Platform (App, Web)

• Public Blockchain Network• ERC-20 Contract

BORA Chain ensures high performance, scalability and independence of each contents service.

2. Motivation

3. BORA Chain

4. BORA Ecosystem

5. Roadmap

6. Team

7. Advisors

8. Partnerships

9. Token Structure

1. Summary

3.1. Core layer

The BORA platform consists of three layers. The Core layer has an internal blockchain (BORA Chain) and an ethereum public blockchain. The BORA Chain provides high transaction processing for performance and scalability to accommodate commercial content services. As it is designed in a modular structure, it ensures independent service environments for each content applications.

BORA Chain has an internal token ("BORA Point"), distributed within the platform and runs a smart contract for token management. BORA Point and ERC-20 token ("BORA") are switchable at any time via the BORA Token Manager, an autonomous system that converts both token by request .

Once the service stability and interoperability of BORA Chain is verified, we plan to transition to a public blockchain through related research and thorough evaluation.

3.2. Service layer

The Service layer lies on top of a core layer and provides development tools (API, SDK) to content providers. This allows BORA Point to be applied to services and record user transactions within the BORA Chain.Also "BORA Chain Explore" will be provided to transparently disclose information recorded in the blockchain. In addition, we provide various operation tools and applicable policies required for service operation.

3.3. Application layer

The application layer, the topmost layer, will be provided to contents providers as a mobile application and web portal. The BORA platform application provides a space where content providers apps can be displayed and accessible to users. An environment which users are able to manage their digital assets.

4. BORA ECOSYSTEM

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Exchangeor DEX

BORA Platform,BORA Chain

IncentiveProgram

Contents Providers

Users

3rd party servicesGame play

Purchase itemsSend gifts, etc.

RewardEvent prizeetc.

Buy / Sell

Buy / SellAD

Data

“BORA Point” (“BORA Chain”)“BORA” (ERC-20)

2. Motivation

3. BORA Chain

4. BORA Ecosystem

5. Roadmap

6. Team

7. Advisors

8. Partnerships

9. Token Structure

1. Summary

Participants in the BORA Ecosystem include content providers, users, the BORA platform, and third party service providers.

Users and content providers can convert BORA Tokens to BORA Point and use them to deliver proper services. The BORA platform guarantees conversion between two tokens.

A portion of the BORA Point distribution will be credited to the "BORA Incentive Program" and is going to be reallocated according to the contribution of the ecosystem participants.

4. BORA ECOSYSTEM (Cont’)

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“BORA”

“BORA Play”(for Game)

“BORA Enjoy”(for Game Community)

······(Plan to expand)

BORA ChainERC-20

2. Motivation

3. BORA Chain

4. BORA Ecosystem

5. Roadmap

6. Team

7. Advisors

8. Partnerships

9. Token Structure

1. Summary

4.1. BORA Ecosystem ("BORA") token

The BORA Ecosystem ("BORA") is a digital token based on the ERC-20 smart contract protocol, being issued by "Boranetwork PET, Ltd" with participation of "Way2bit Co., Ltd", a blockchain technology development company.

BORA Tokens are used in the ecosystem to circulate business content and promote user activities.

4.2. Token mechanism

"BORA Point" which distributes only within our ecosystem and is only created by the ERC-20 token conversion request, will be guaranteed by authenticating through the BORA Chain.BORA Point cannot be arbitrarily issued or distributed by other individuals or organization, including the BORA development team itself. Therefore, it has distinctive characteristics from general so-called 'service points'.

Users are not impacted anymore by content providers and can guarantee possession of these BORA Point, by the BORA Chain, and can be converted anytime to BORA.

Contents providers don't require additional currency for their service but can interlock with BORA Point, instead. Acquiring BORA Point by providing services can be converted to BORA Token.

4.3. BORA Incentive Program

The BORA Ecosystem places high value on the use and distribution of BORA Point. To facilitate and sustain those actions, we operate the BORA incentive system.

The incentive program will use a portion of the token allocation for the purpose of activating the ecosystem and is based on the initial issuance of the BORA Token. Also a fixed fee will be levied when converting BORA Point to BORA Token to continuously fill up the pool.

The operation and allocation rules of incentive program are executed by the Smart Contract on BORA Chain. The incentives are distributed on a regular basis based on the proportional contribution to BORA Point circulation and usage. Or to combine the distribution with interesting factors, it can be used such as an event prize or lottery reward.

4.4. Flexible token expansion structure

Games, communities and entertainment have different service structures, user characteristics, and business models. Therefore, tokens with a singular economic system cannot accommodate different types of content providers.

BORA Point will have a flexible extension structure to accommodate different service models. For instance, BORA Platform can release and provide each BORA Point to gaming services and gaming community services.

5. ROADMAP

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2. Motivation

3. BORA Chain

4. BORA Ecosystem

5. Roadmap

6. Team

7. Advisors

8. Partnerships

9. Token Structure

1. Summary

Q2 2018

• BORA Ecosystem –PrototypeDev. net, internal test

• Platform architecture design• Whitepaper 1.0

• BORA Chain Structure R&D• Token economy R&D

• BORA Ecosystem – Beta1Public beta demonstration

• BORA Dev. Toolkit (Beta)• BORA Block Explorer (Beta)• BORA Back Office (Beta)• Infrastructure for service

• UX/UI Research• Platform interoperability

• BORA Ecosystem – AlphaPublic alpha demonstration

• BORA Token Generation• BORA Dev. Toolkit (Alpha)• BORA Block Explorer (Alpha)• BORA Back Office (Proto)• Infrastructure for dev.

• Anti-abusing system• Business modeling (games)

• BORA Ecosystem – Beta2‘BORA’ Web Portal (Beta)Anchor DApp release (games)

• Platform service QABORA Partners Portal (Beta)

• BORA Incentive Program (Alpha test)

• BORA Data Analytics (Beta)

• Business modeling(beyond games)

• BORA Ecosystem 1.0‘BORA’ Web Portal releaseDApp release (games)

• BORA Dev. Toolkit 1.0• BORA Block Explorer 1.0• BORA Back Office 1.0• BORA Partners Portal 1.0

• Performance enhancement

• BORA Ecosystem 1.1‘BORA’ Mobile App release

• BORA Dev. Toolkit update• BORA Incentive Program

• Ecosystem expansion• UX/UI Research

• BORA Ecosystem 2.0Performance enhancement

• BORA Dev. Toolkit update• BORA Arcade• BORA Partners Portal 2.0

• Payment, Token swap R&D• Decentralized governance

R&D

• BORA Ecosystem 3.0Beyond gamesBORA Chain scale up

• BORA Dev. Toolkit update• BORA Payment

• Consensus algorithm R&D

Q3 2018

Q4 2018 Q2 2019 Q4 2019

Q1 2019 Q3 2019 Q2 2020

6. TEAM

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• Game platform and business development manager 20+ years

• Samsung Electronics, NHN, Smilegate

GYEHAN SONGFOUNDER & CEO

KYUNGHO YUNEBUSINESS DIRECTOR

CHANGKYUN OHCFO

IGOO LEETECHNICAL DIRECTOR

SEOHO RYUBLOCKCHAIN ENGINEER

YOUNGJU ROHBLOCKCHAIN ENGINEER

BONGJUN KIMPRODUCT, SERVICE DESIGN

JESOUNG BAHKCOMMUNICATION MANAGER

• Led game business development +15 years

• Actozsoft, NHN

• KICPA• Financial management• NHN, Deloitte Anjin, Nchant

Interactive

• Infrastructure designer• Oracle DB consultant• Leader of MySQL Group Korea• NeoWiz, Nexon, 4:33

• Game and content service system engineer

• Daewoo infor., NHN, Play Forum, Riot games, Epic games Korea

• Game system developer• Billing system engineer, FinTech

DBA• NeoWiz, Lotte Data Comm.

• Game studio PD, game system and service designer

• Game business manager• NHN, 4:33

• Multi linguist product specialist• Overseas business PM• ESTsoft, Vertigo games, 4:33

2. Motivation

3. BORA Chain

4. BORA Ecosystem

5. Roadmap

6. Team

7. Advisors

8. Partnerships

9. Token Structure

1. Summary

The leadership team has a proven track record inplatform development, infrastructure integration, game

development, IT business and marketing.

7. ADVISORS

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JOON MO KWONFounder, Four Thirty Three Inc.

• Serial entrepreneur, investor• CEO of Nexon, Inc.• CEO of Nexon Mobile Inc.• Founder, CEO of Entelligent Inc.• Professor, Kyung Hee Univ.• Ph.D, Psychology, Columbia Univ.

RYAN UHRCEO, Coinplug Inc.

• Celizion, Inc.• Cisco Systems, Inc.• ExiO Communications, Inc.• Hyundai Electronics, Inc.• BS, Electronic Engineering, Korea

University

More advisors to be added.

2. Motivation

3. BORA Chain

4. BORA Ecosystem

5. Roadmap

6. Team

7. Advisors

8. Partnerships

9. Token Structure

1. Summary

WILLIAM CROISETTIERBlockchain Investor + Advisor

• Naspers Ventures• Bachelors from UC Berkely in Applied

Math, CS focus• Masters from Stanford Engineering in

Biomechanical Engineering• Masters from Stanford Business School

in Management

8. PARTNERSHIPS

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2. Motivation

3. BORA Chain

4. BORA Ecosystem

5. Roadmap

6. Team

7. Advisors

8. Partnerships

9. Token Structure

1. Summary

More partnership to be added.

BORA Ecosystem has a firm partnership with leading companies from both mainstream games and blockchain industries.

Confidential

9. TOKEN STRUCTURE

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1,325,000,000 BORA 40%, Sale

20%, Reserve

25%, Ecosystem

15%, Team & Advisors

70%

6%14%

10%

2. Motivation

3. BORA Chain

4. BORA Ecosystem

5. Roadmap

6. Team

7. Advisors

8. Partnerships

9. Token Structure

1. Summary

The issuance and distribution of BORA Tokens are both written and executed as smart contracts.

40% of the issued token, from total volume, is planned to be on sale for the purpose of financing the development and service operations of the BORA Ecosystem.

20% of the issued token, from total volume, will be reserved for the company for further development, expansion, alliances and investment budgets for the BORA Ecosystem.

25% of the issued token, from total volume, is used to create initial the incentive programs in the ecosystem, to issue new BORA Point tokens, to raise funds for operations, and to support early partner development.

15% of the issued token, from total volume, will be paid to teams and contributors directly contributing to the design, implementation and support of the BORA Ecosystem.

Development• BORA Chain network and infrastructure• Platform application• Development toolkits, operating systems

Business, Marketing• Business development, partnerships• Global marketing

Service, Research• Legal, accounting, audit services• Research, consulting

9.1. Token generation 9.2. Token allocation 9.3. Use of funds

Project operation

Business, Marketing

Service, Research

Development

DISCLAIMERIMPORTANT NOTICE: PLEASE READ THE ENTIRETY OF THIS “Disclaimer” SECTION CAREFULLY. WE RECOMMEND YOU CONSULT A LEGAL, FINANCIAL, TAX OR OTHER PROFESSIONAL ADVISOR(S) OR EXPERTS FOR FURTHER GUIDANCEPRIOR TO PARTICIPATING IN THE BORA ECOSYSTEM TOKEN SALE OUTLINED IN THIS WHITE PAPER.

1. Legal Statement

(a) This whitepaper (“Whitepaper”), in its current form, is circulated forgeneral information purposes in relation to the Bora Network blockchainproject as presently conceived and is subject to review and revision. Theinformation in this Whitepaper is current only as of the date on the coverhereof. Thereafter, the information in this whitepaper and/or informationconcerning Boranetwork PTE, Ltd. (“Bora Network”) may have changedsince this date.

(b) No person is bound to enter into any contract or binding legalcommitment in relation to the sale and purchase of the BORA Token and nopayment is to be accepted on the basis of this Whitepaper. Any sale andpurchase of the BORA Token will be governed by a legally bindingagreement, the details of which will be made available separately from thisWhitepaper. In the event of any inconsistencies between the abovementioned agreement and this Whitepaper, the former shall prevail.

(c) This Whitepaper does not constitute or form part of any opinion on anyadvice to sell, or any solicitation of any offer by the issuer / distributor /vendor of the BORA Token to purchase any BORA Token nor shall it or anypart of it nor the fact of its presentation form the basis of, or be relied uponin connection with, any contract or investment decision.

(d) The BORA Tokens are not intended to constitute securities, units in abusiness trust, or units in a collective investment scheme, each as definedunder the Securities and Futures Act (Cap. 289) (“SFA”) of Singapore.Accordingly, this Whitepaper therefore, does not, and is not intended to,constitute a prospectus, profile statement, or offer document of any sort,and should not be construed as an offer of securities of any form, units in abusiness trust, units in a collective investment scheme or any other form ofinvestment, or a solicitation for any form of investment in any jurisdiction.

(e) No BORA Token should be construed, interpreted, classified or treatedas enabling, or according any opportunity to, purchasers to participate inor receive profits, income, or other payments or returns arising from or inconnection with the Bora Ecosystem, BORA Tokens, or products, or toreceive sums paid out of such profits, income, or other payments or returns.

(f) This Whitepaper and any part hereof may not be reproduced,distributed or otherwise disseminated in any jurisdiction where offeringtokens in the manner set out this Whitepaper is regulated or prohibited.

(g) No regulatory authority has reviewed, examined or approved of anyof the information set out in this Whitepaper. No such action has been orwill be in any jurisdiction.

(h) Where you wish to purchase any BORA Token, the BORA Tokens arenot to be construed, interpreted, classified or treated as: (a) any kind ofcurrency other than cryptocurrency; (b) debentures, stocks or sharesissued by any entity; (c) rights, options or derivatives in respect of suchdebentures, stocks or shares; (d) rights under a contract for differencesor under any other contract with the purpose or pretended purpose tosecure a profit or avoid a loss; or (e) units or derivatives in a collectiveinvestment scheme or business trust, or any other type of securities.

2. Restrictions on Distribution and Dissemination

(a) The distribution or dissemination of this Whitepaper or any partthereof may be prohibited or restricted by the laws or regulatoryrequirements of any jurisdiction. In the case where any restriction applies,you are to inform yourself about, and to observe, any restrictions whichare applicable to your possession of this Whitepaper or such part thereof(as the case may be) at your own expense and without liability to BoraNetwork or its representatives, agents, and related companies (includingWay2bit Co., Ltd. (“Affiliates”).

(b) Persons to whom a copy of this Whitepaper has been distributed ordisseminated, provided access to or who otherwise have the Whitepaperin their possession shall not circulate it to any other persons, reproduceor otherwise distribute this Whitepaper or any information containedherein for any purpose whatsoever nor permit or cause the same tooccur.

3. Disclaimer of Liability

(a) The BORA Tokens and related services provided by Bora Network andits Affiliates are provided on an “as is” and “as available” basis. BoraNetwork and its Affiliates do not grant any warranties or make anyrepresentation, express or implied or otherwise, as to the accessibility,quality, suitability, accuracy, adequacy, or completeness of the BORATokens or any related services provided by Bora Network and its Affiliates,and expressly disclaims any liability for errors, delays, or omissions in, orfor any action taken in reliance on, the BORA Tokens and related servicesprovided by Bora Network and its Affiliates.

(b) Bora Network and its Affiliates do not make or purport to make, andhereby disclaims, any representation, warranty or undertaking in anyform whatsoever to any entity or person, including any representation,warranty or undertaking in relation to the truth, accuracy andcompleteness of any of the information set out in this Whitepaper.

(c) To the maximum extent permitted by the applicable laws andregulations, Bora Network and its Affiliates shall not be liable for anyindirect, special, incidental, consequential or other losses of any kind, intort, contract or otherwise (including but not limited to loss of revenue,income or profits, and loss of use or data), arising out of or in connectionwith any acceptance of or reliance on this Whitepaper or any part thereofby you.

4. CautionaryNote on Forward-Looking Statements

(a) Certain information set forth in this Whitepaper includes forward-looking information regarding the future of the project, future eventsand projections. These statements are not statements of historical factand may be identified by but not limited to words and phrases such as“will”, “estimate”, “believe”, “expect”, “project”, “anticipate”, or words ofsimilar meaning.

Such forward-looking statements are also included in other publiclyavailable materials such as presentations, interviews, videos etc.information contained in this Whitepaper constitutes forward-lookingstatements including but not limited to future results, performance, orachievements of Bora Network or its Affiliates.

(b) The forward-looking statements involve a variety of risks anduncertainties. These statements are not guarantees of futureperformance and no undue reliance should be placed on them. Shouldany of these risks or uncertainties materialize, the actual performanceand progress of Bora Network or its Affiliates might differ fromexpectations set by the forward-looking statements. Bora Network or itsAffiliates undertake no obligation to update forward-looking statementsshould there be any change in circumstances. By acting upon forward-looking information received from this Whitepaper, Bora Network or itsAffiliates’ website and other materials produced by Bora Network or itsAffiliates, you personally bear full responsibility in the event where theforward-looking statements do not materialize.

(c) As of the date of this White Paper, the BORA Platform has not beencompleted and is not fully operational. Any description pertaining to andregarding the BORA Platform is made on the basis that the BORAPlatform will be completed and be fully operational. However, thisparagraph shall in no way be construed as providing any form ofguarantee or assurance that the BORA Platform will eventually becompleted or be fully operational.

5. Potential Risks

(a) Please carefully read every piece of information, understand andanalyze the risks related factors before deciding to participate andpurchase the BORA Token. The risks include, but are not limited to:

(i) risk of losing access to BORA Token due to loss of private key,credentials and other identification information, or any other kindof custodial or purchaser errors;

(ii) fluctuations of the price of BORA Token post issuance due to thegeneral global market and economic conditions. Such volatility inthe value of the BORA Token may lead to BORA Network not beingable to fund the development of the BORA Ecosystem, or may notbe able to maintain the BORA Ecosystem in the manner intended;

(iii) any malfunction, unplanned function or unexpected operationof the Ethereum protocol which may, in turn, cause the BORA Tokenor the Bora Ecosystem to malfunction or operate in a way that is notexpected as they are based on the Ethereum protocol. Ether, thenative Ethereum Protocol account unit, may itself lose value in asimilar way to BORA Token, and also in other ways;

(iv) changes in political, social, economic and stock orcryptocurrency market conditions, and the regulatory environmentin the countries in which Bora Network or its Affiliates conduct theirbusinesses and operations, and the ability of Bora Network or itsAffiliates to survive or compete under such conditions.

(xiii) BORA Tokens confer no governance rights of any kind withrespect to the BORA Network project, the BORA Ecosystem and/orBORA Network and all decisions will be made by BORA Network atits sole discretion, including decisions to discontinue the BORANetwork’s products or services, the BORA Network project and/orBORA Ecosystem, to create and sell more BORA Tokens for use inthe BORA Ecosystem or to sell or liquidate BORA Network; and

(xiv) The tax treatment and accounting of the BORA Tokens isuncertain and may vary amongst jurisdictions. There may beadverse tax consequences and independent tax advice inconnection with purchasing BORA Tokens should be obtained.

In addition to the risks stipulated above, there are other risks that BoraNetwork and its Affiliates cannot predict. Risks may also occur asunanticipated combinations or as changes in the risks stipulated herein.

(b) If any of such risks and uncertainties develops into actual events, thebusiness, financial condition, results of operations and prospects of BoraNetwork or its Affiliates could be materially and adversely affected. Insuch cases, you may lose all or part of the value of the BORA Tokens.

6. No Further Information or Update

No person has been or is authorized to give any information orrepresentation not contained in this Whitepaper in connection with theBORA Token, Bora Network or its Affiliates and their respectivebusinesses and operations, and, if given, such information orrepresentation must not be relied upon as having been authorized by oron behalf of Bora Network or its Affiliates.

7. No Advice

No information in this Whitepaper should be considered to be business,legal, financial or tax advice regarding the BORA Token, Bora Network orits Affiliates. You should consult your own legal, financial, tax or otherprofessional advisor(s) regarding the BORA Token, Bora Network or itsAffiliates and their respective businesses and operations. You should beaware that you may be required to bear the financial risk of any purchaseof BORA Token for an indefinite period of time.

It is possible that certain jurisdictions will apply existing regulationson, or introduce new regulations addressing, blockchain technology,which may be contrary to the BORA Token and/or the BORAEcosystem which may, inter alia, result in substantial modificationsof the BORA Ecosystem and the BORA Network blockchain project,including termination and loss of BORA Tokens;

(v) changes in the future capital needs of Bora Network or itsAffiliates and the availability of financing and capital to fund suchneeds. A lack of funding could impact the development of the BORAPlatform and the uses or potential value of the BORA Token;

(vi) for a number of reasons including, but not limited to, anunfavorable fluctuation in BORA Token value, the failure of businessrelationships or competing intellectual property claims, the BoraNetwork project may no longer be a viable activity and may bedissolved or simply not launched;

(vii) the lack of interest from large number of companies,individuals and other organizations for the Bora Ecosystem andservices and that may have limited public interest in the creationand development of distributed applications. Such a lack of interestcould lead to a lack of funding and also impact the development ofthe BORA Platform and the uses or potential value of BORA Token;

(ix) competition from alternative platforms that may have beenestablished, which could potentially adversely impact the BORAToken and the Bora Ecosystem (e.g. lack of commercial success orprospects caused by competing projects);

(x) interference with the use of BORA Token and the infrastructureof the Bora Ecosystem due to any weaknesses or malware that maybe intentionally or unintentionally introduced into the software ofthe Bora Ecosystem. The blockchain used for the platform is alsovulnerable to attacks which pose a risk to the platform and theperformance of related services;

(xi) occurrences of catastrophic events, natural disasters that affectthe businesses or operations of Bora Network or its Affiliates andother factors beyond the control of Bora Network or its Affiliates.This includes mining attacks, attacks by hackers or other individualsthat could result in theft or loss of proceeds of the BORA Token sale,or the BORA Token and impacting the ability to develop the BORAEcosystem;

(xii) the BORA Token and other cryptocurrencies are a new, untestedtechnology and constantly developing. The full functionality of theBORA Token is not yet complete and no assurance can be providedof such completion. As technology matures, developments incryptographic technologies and techniques or changes inconsensus protocol or algorithms could present risks to the BORAToken, the BORA Token sale, the BORA Network project and/or theBORA Ecosystem, including the utility of the BORA Token;

BORA EcosystemBlockchain platform ecosystemto promote content distribution and user activity

contact@boraecosystem.com