Being involved in a DAO carries inherent risks and uncertainties.
Decentralised technologies and smart contracts are still relatively new and there may be unforeseen challenges or limitations that could impact the operation and success of the DAO. It's important to carefully consider these risks and uncertainties before getting involved in any DAO, and to make informed decisions based on your own due diligence and judgment. Here's a non-exhaustive list of the risks and concerns you should be aware of:
- Failing to understand the technology and how to interact with it may result in the complete loss of funds and other assets of value
- Failing to comply with your own laws in relation to digital assets could result in fines or imprisonment
- Failure to pay tax owing on capital gains could result in fines or imprisonment
Additionally, please be aware that the value of any assets or investments associated with a DAO can fluctuate significantly and may lose value. It's important to carefully manage your own financial risk and not invest more than you can afford to lose.
By getting involved in a DAO, you acknowledge and accept these risks and uncertainties. Please make sure to carefully review any relevant documentation and consult with a financial advisor before making any decisions.
If you have questions or need support, feel free to reach out via Discord - it's currently our most active community platform!