Latest Publication Date: April 11, 2018 http://www.thortoken.com

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“ A job will be a task that you do.Not a position that you hold.”—Naval Ravikant

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Table of Contents

Abstract

G is for Gig

Emergence of the Gig Economy

Challenges the new economy presentsInsufficient security and quality of life for Gig WorkersExcessive turnover for On-Demand Companies

Thor Solution

Easy access to benefits and financial securityInstant paymentsGig Network

Contractor Acquisition

Tokenomics

Token saleLiquidityDiscounted services

Why Blockchain?Why NEO?Platform agnosticism

Building a Bridge

Team

Disclaimer

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AbstractFreelancers, contractors, temps, and On-Demand workers will make up 43%

of the U.S. economy by 20201, amounting to nearly 67 million workers. But

less than half of these workers receive benefits like health care and less than

a third receive retirement benefits — and they are frustrated about it2. Data

show that 72% of workers in the Gig Economy believe they should be receiv-

ing benefits.3

A solution is needed to handle this new, diverse, and complex market-

place, and to bring the Gig Workers (the independent contractors that fill out

the ranks of the many On-Demand companies in the Gig Economy) involved

the level of financial security and wellbeing that they deserve and desire.

Though the Department of Labor is trying to make it easier for Gig Workers

to link together for the purpose of creating Association Health Plans (AHPs),4

we believe there is a better path.

This paper will outline Thor Token’s innovative approach to fixing the Gig

Economy. By utilizing blockchain technology and Tokenomics, Thor’s plat-

form will allow us to offer Gig Workers access to the benefits traditionally

reserved for full-time and unionized employees. As the company grows, Thor

will be able to offer users in its network subsidies for the Thor products and

benefits they purchase, enticing more Gig Workers to join and further growing

the network.

1 http://money.cnn.com/2017/05/24/news/economy/gig-economy-intuit/index.html

2 https://www.npr.org/2018/01/23/579720874/will-work-for-no-benefits-the-challenges-of-being-in-the-new-contract-workforce

3 https://assets.aspeninstitute.org/content/uploads/2016/06/BM_On-Demand-Economy-Survey-Infographic-V4.pdf

4 https://www.dol.gov/newsroom/releases/ebsa/ebsa20180104

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The Thor interface will also offer Gig Workers a one-stop Gig Network

that will act as a workflow management hub. It will enable workers to evalu-

ate which companies they can and should apply to, make the applications to

interested companies, and submit necessary documentation with ease. This

hub will let workers know when different On-Demand companies pay higher

wages and help the users optimize their workflow.

To fund development of this platform and future expansion into related

services, Thor will issue 100 million tokens that give holders the ability to

participate in the optimization of the token’s value and to purchase goods in

the Thor marketplace.

Thor will offer its users the ability to exchange Thor Tokens into fiat in

near real-time, allowing Gig Workers to receive their full wages in tokens and

still pay their bills, utilities, and make any purchases that require fiat curren-

cy. This pragmatic integration of the cryptomarket with the traditional econ-

omy will allow us to bring blockchain currencies to a much wider audience

today. Thor will move to a decentralized exchange, such as NEX, once it is

feasible and be just another player competing on the Thor marketplace.

The long-term stability of the Gig Economy will ultimately require the

workers involved to believe that it can give them the wellbeing and security

they desire from their employment. Moreover, the near-term future of block-

chain and crypto-currencies rests in innovators’ ability to bring the technol-

ogy beyond the world of crypto-enthusiasts and into the lives of everyday

people. Thor Token aims to do both.

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G is for GigEmergence of the Gig Economy

The Gig Economy is a modern labor market charac-

terized by the prevalence of short-term contracts or

freelance work as opposed to permanent jobs. On-De-

mand companies, such as Uber and TaskRabbit, are the

major players operating in the Gig Economy, and are

companies that generally offer services on a digital-

ly-based marketplace (primarily mobile) that offers

convenient access to and/or fulfillment of goods and

services.

Since the 2008 Recession resulted in the loss

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of 8.7 million jobs5 — 6.1% of all payroll employment

during this period — the Gig Economy has exploded on

to the scene and rapidly grown into a foundation of the

U.S. workforce. The marriage of new technology and

economic necessity created the perfect opportunity

for companies like Uber to begin offering work to mil-

lions of Americans. Technology companies were able

to provide platforms to match people that needed a

service with workers that could provide it.

The new economy quickly branched out beyond

ride sharing stalwarts, like Uber and Lyft, and vaca-

tion rental services like AirBnB, and began offering

services from house cleaning, handyman repair, and

grocery delivery to dog walking, prescription delivery,

and more.

Gig and freelance workers now represent 34%

of the U.S. workforce and are projected to make up

43% of the workforce by the year 2020.6 Instacart, a

5-year-old San Francisco startup, was recently valued

at $3.4 billion.7 It operates in 154 U.S. cities and em-

ploys hundreds of thousands of contractors.8 In the

5 https://www.cbpp.org/research/economy/chart-book-the-legacy-of-the-great-recession

6 http://money.cnn.com/2017/05/24/news/economy/gig-economy-intuit/index.html

7 https://techcrunch.com/2017/03/07/instacart-raises-400-million-at-a-3-4-billion-valuation-to-delive-

groceries-on-demand/

8 https://arstechnica.com/tech-policy/2017/11/some-instacart-workers-to-strike-over-pay-that-can-be-as-

low-as-1-per-hour/

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U.S. alone, Postmates deploys 100,000 couriers completing

more than 2.5 million deliveries every month.9

Customers across the world rely on these services

every day, and they’ve embedded themselves into our daily

lives. But that does not mean that the Gig Economy is with-

out its challenges — especially for the Gig Workers who make

it move.

Challenges the new economy presents

Insufficient security and quality of life for Gig Workers:

It’s no secret that there is more to a full-time employee’s

income than their take home pay. Health benefits for them and

their family, retirement benefits, sick leave, and parental leave

all add up to more than dollars and cents — they give people

peace of mind and security as they live their day-to-day life.

But this isn’t true for a large bulk of the people in the

Gig Economy. Many complain of falling wages, long hours,

and depressing work conditions,10 and a large majority of Gig

Workers believes they deserve more benefits.11 While the Gig

Economy will almost certainly continue to be a major part of

how we live and work, the experience of being a Gig Worker

will need to be improved if the industry is to remain healthy.

9 https://techcrunch.com/2017/11/15/postmates-launches-in-first-international-city/

10 https://www.vice.com/en_nz/article/wn9444/an-interview-with-the-uber-driver-whos-had-enough

11 https://assets.aspeninstitute.org/content/uploads/2016/06/BM_On-Demand-Economy-Survey-Infographic-V4.pdf

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Thor’s mission is to provide a layer of stability for contracting workers that

promotes greater wellbeing among the Gig Economy at large. Despite the

efforts of the Department of Labor, there are still not practical avenues for Gig

Workers to band together to obtain more cost-effective benefits. We believe

that blockchain technology presents a unique opportunity to provide this much

needed service to this growing segment of the population.

Excessive turnover for On-Demand companies:

In any other industry, the rate of turnover seen in On-Demand companies

would be a crisis. Uber’s own data show that 11% of new drivers stop driv-

ing within a month, and about half are gone within a year.12 Nearly half of the

companies that use independent contractors say they are harder to retain than

traditional employees, according to a survey from Time.13 Many contractors

treat employment in the Gig Economy as transitional, a layover between ca-

reer stops, evidenced by the fact that more than one-third of freelancers say

they are not in the economy by choice14 — but why?

12 https://www.forbes.com/sites/ellenhuet/2015/01/22/uber-study-workforce/#7802ff03367a

13 http://time.com/4388733/gig-economy-uber-lyft-employment-survey/

14 https://www.upwork.com/press/2017/10/17/freelancing-in-america-2017/

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The lack of convenient, cost-effective benefits is

an obvious struggle for many in the Gig Economy, but

a lot of On-Demand companies don’t have the finances

to provide these benefits. A look at Uber’s third quarter

2017 results shows that 80% of the company’s $9.7

billion in quarterly revenue was dedicated to a combina-

tion of driver payouts and bonuses along with discounts

to riders, and an additional 10 percent went to insurance

costs.15 That’s 90 percent of quarterly revenue without

accounting for marketing, research and development,

or overhead. On top of that, Uber and its leading com-

petitor, Lyft, spend inordinate amounts of money to

bring on drivers. Lyft offers, in some markets, as much

as $1,250 for the driver, and an additional bonus of up

to $500 to whomever provides the referral. Uber of-

fers similar programs of up to $1,500 to the driver and

up to $750 to the referrer, depending on the different

markets and according to need. Other companies have

similar needs and use various incentives to fill their

available positions.

Thor Token will provide these companies a num-

ber of new employee incentives to help them better

retain their workforce with little to no additional costs.

15 https://www.bloomberg.com/view/articles/2018-01-23/how-to-fix-uber-in-six-not-so-easy-steps

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Thor SolutionWe believe a blockchain-based network of Gig Work-

ers and On-Demand companies will solve many of the

ailments of the Gig Economy in a financially feasible

manner. In this section, we detail the three prongs of the

Thor solution: (1) easy access to benefits and financial

security, (2) instant payments, and (3) Gig Network.

Easy access to benefits and financial security

Offering contractors access to group policy healthcare

will be a major part of the Thor Solution to fixing the Gig

Economy. These plans are, by nature, more cost-effec-

tive than equivalent plans offered to individuals. They

will not be dependent on the Gig Worker having unin-

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terrupted employment with any specific On-Demand

company, they will just need to be a part of the Thor

Token network. As the value of Thor Tokens grows

with the network, Gig Workers will have the opportu-

nity to receive subsidies for the cost of these plans,

further reducing the financial burden on contractors.

Likewise, by partnering with Thor Token to pay

their contractors with blockchain currency, On-De-

mand companies will be able to offer those contrac-

tors convenient access to more cost-effective health-

care without additional costs to the company and

without the company ever needing to hold Thor Tokens

on its ledger. This alone will bring a new measure of

stability to Gig Workers and help companies with the

excessive turnover that plagues them. Partnering with

Thor will allow On-Demand companies to advertise

access to cost-effective benefits without needing to

lift the financial burden of providing those benefits

themselves, helping them attract contractors over

competitors that have yet to sign up with Thor.

Instant payments

While larger On-Demand companies are able

to offer their contractors a form of instant pay, many

companies in the space cannot — at least until they

have partnered with Thor Token. By implementing

payments through NEO smart contracts, Thor Token

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can enable near-instantaneous payments for service by

directly debiting On-Demand companies and then converting

the USD into Thor Tokens through a centralized exchange,

such as GDAX, or a decentralized exchange, such as NEX. This

will allow On-Demand companies a more effective incentive

structure for getting contractors to work at high demand

hours, all while the companies receive paycheck processing

for zero cost. By partnering with Thor Token, smaller On-De-

mand companies will be able to tout instant pay for their con-

tractors without having to implement an instant pay system

themselves.

Gig Workers signed up with Thor Token will be able

make quick cash when they need money in a pinch, receiving

tokens directly into their Thor Wallet upon completion of

the gig. They will be able to decide what percentage of their

payment they want in Thor Tokens and what percentage in

USD. Thor will provide users with an account where they can

transfer between USD and Thor Tokens in a matter of sec-

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onds. Overall, this will help Gig Workers to more easily

manage their finances (and reduce the need for costly

measures such as payday loans). It will also optimize

the payment structure for contractors who use the

Gig Economy as a side hustle when funds are tight.

Gig Network

Thor’s Gig Network will give Gig Workers a one-stop shop

for managing their workflow and application process.

Users will have both a desktop and mobile client that will

streamline their application process and help to optimize

their time management by informing them of high-pay

time slots offered by their various On-Demand clients.

Gig Workers will also be aware of the many On-Demand

For illustrative purposes only, product interface may differ from examples shown in this document.

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companies utilizing Thor Token, keeping them informed about

the opportunities for work available.

Additionally, Thor’s Gig Network will make it simple for

On-Demand companies to hire new contractors, streamlining the

process and connecting them with qualified contractors in the

network. Emerging On-Demand companies will get widespread

exposure across the Thor user network simply for signing up to

offer payment with Thor Tokens.

Thor Token’s creation of a community of Gig Workers will

offer those in the community even more than ease and financial

benefit. Contractors using the Thor Wallet will be able to engage

in a community of contractors in their area to compare which

On-Demand services are providing the best rates in different

geographic areas, chat with fellow workers, and get notifications

about relevant local news.

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Contractor Acquisition

Our contractor acquisition strategy broadly consists

of two approaches: B2B partnerships and B2C market-

ing. Each strategy strengthens the other.

Our immediate approach is to develop partner-

ships with a number of companies in the Gig Economy.

The San Francisco Bay Area is home to countless of

these startups, and we have direct relationships with

many already. We can offer them paycheck process-

ing for zero cost, which alone should be enough to

displace their current providers, in addition to allowing

them to offer their contractors access to group poli-

cy healthcare. In exchange, we ask that our partners

encourage their contractors to receive paychecks via

Thor Token. In this way, we share the incentive and

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strategy for contractor adoption.

The goal of these partnerships is to: (i) demon-

strate a working product and value proposition for

companies, and (ii) aggregate a base of contractors

actively using Thor Token. The more “success stories” we

develop with partners, the more credibility we gain when

selling to larger companies.

Concurrently, we will establish B2C marketing

capability. This consists of a cross-channel approach,

including:

• SEO optimization that reduces our cost of SEM

• Publishing relevant content about cryptocurrency, paycheck

providers, healthcare options, and retirement accounts via social

media and our blog, which improves our SEO and SEM

• SEM on Google, Yahoo, and Bing

• Programmatic advertising on platforms used by contractors

(e.g., LinkedIn, Facebook, Craigslist, Indeed.com, Monster.com,

TaskRabbit, etc.)

• A referral program that pays users for signing contractors up

with Thor Token

The ultimate goal of our B2B and B2C strategies is

to work with the largest partners, companies like Uber,

Upwork, Lyft, and TaskRabbit. The best way to close a

partnership with these companies is not only with our

core value proposition, but by demonstrating that we

have a set of their contractors already on our platform.

It is much easier to partner with a company like Uber if

we already have 10,000 Uber drivers using Thor Token

for healthcare.

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TokenomicsThor Token is excited to pioneer a real use

case for Tokenomics. Thor Token will demonstrate

the capacity Tokenomics has to bring together an

otherwise disparate group of economic actors

and derive value from their shared buying power.

The tokens will allow Gig Workers to participate

in a shared ecosystem that leverages their pooled

purchasing power into discounted goods and

services and encourages retailers to compete for

users in the Thor market.

As the network grows, it will create the

potential for the value of each token to increase

as the usage of tokens drives demand given their

scarcity in a finite pool of available supply. Thor

Token plans to reinvest capital from any increase

in value into subsidized products to offer in the

Thor marketplace, in turn incentivizing more Gig

Workers to join the marketplace.

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Thor Token will be able to manage volatility by both maintain-

ing a pool of reserve tokens as well as directly offering a range of

products to users, tethering the value of the token to non-crypto

markets. This can offer a measure of stability to the Thor network

not found in many alternative currencies.

Our vision is to transfer Thor Token to a decentralized ex-

change, such as NEX, when it becomes possible. In the meantime,

we will manage the exchange of Thor to fiat to support the token’s

utility for the Gig Workers in our network.

By utilizing Tokenomics and uniting Gig Workers, we will be

able to offer workers in the Gig Economy access to the benefits

traditionally reserved for full-time and unionized employees.

Token sale

Thor plans to raise $40 million in its Token Sale, divided be-

tween $20 million in a private sale and $20 million in a public sale.

The tokens will be purchased through a NEO smart contract built

with a NEP-5 contract template. The contract will be audited ahead

of time by the developer group City of Zion. At the time of sale, 50

million tokens will be released at a price pegged to the 7-day aver-

age price of NEO at the date of the public sale. 10 million tokens are

** Current and future team members, vested over four years with a one year cliff

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provided through bonuses to participants in both the public and private

sale. Of the 50 million tokens released in the sale, 27 million are allocat-

ed to the private sale and 23 million to the public sale. Tokens not sold in

the public sale will be burned at the close of the sale.

Thor will create an additional 50 million tokens, which it will use

both to finance the business as well as support the Thor currency mar-

ket. An estimated distribution of the funds is shown in the chart [on page

19].

Funds from the sale will go towards building out the Thor team

(vested over four years with a one year cliff), as well as banking acqui-

sitions, marketing, sales, and other business expenses. We expect the

team to expand rapidly as demand grows for the product.

Thor anticipates kicking off the Token Sale in the first half of 2018.

Liquidity

A foundation of Thor Token’s success will be its pragmatic inte-

gration of the blockchain economy with the traditional economy. The

key to doing so — and to rapidly growing the number of Gig Workers in

our network — will be to offer users and the companies they work with

access to liquidity from Thor Tokens to fiat. This will allow us to easily

onboard Gig Workers who need USD to pay their bills as well as On-De-

mand companies that are wary of blockchain currencies.

Initially, we plan to work with an exchange like GDAX, a U.S.-based

regulation-first exchange, to facilitate the selling and buying of Thor To-

kens. On-Demand companies will be debited in USD, and we will use the

chosen exchange to convert those dollars into Thor Tokens and distrib-

ute them to the wallet of the appropriate Gig Worker. From there, the

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user can choose to convert the tokens back into USD and

transfer them to an account, to spend the tokens using

their Thor VISA Card, or to hold the tokens in their Thor

Wallet. Thor Token will partner with existing finance insti-

tutions and/or acquire a state or federally chartered bank

in order to provide the requisite banking services.

Ultimately, it is not our intention to manage the

exchange of tokens and fiat currencies, but we see it as a

necessary step to bridge the gap between blockchain and

the traditional economy and to expand the customer base

beyond the world of crypto-enthusiasts. Eventually, Thor

will transfer to a decentralized exchange and be one of

many players in the decentralized economy.

Over time, we anticipate that blockchain currencies

will be increasingly embedded in the economy at large, at

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which time a conversion to fiat may not be necessary at

all. At that time, Thor as a clearing house will cease to

exist and the company will acquire Thor Tokens through

other decentralized services.

Discounted services

Thor Token will be able to offer its users a wide

range of discounted services and products including ac-

cess to benefits, such as health, home, and car insurance,

as well as access to Thor-exclusive promotions from par-

ticipating retailers.

Though the Department of Labor is taking steps

to help Gig Workers band together to create Association

Health Plans, most contractors and Gig Workers still do

not have access to the most cost-effective health plans

that big employers can provide by purchasing shared

plans for a large number of employees. Thor Token will

alleviate this hurdle by allowing Gig Workers in our net-

work to pool their purchasing power and access cover-

age that they would not be able to obtain as an individual

consumer.

As the value of Thor Tokens grows, we will use

our increased market cap to subsidize Thor products and

benefits, reinvesting our capital in our network. This will

make our network even more appealing to Gig Workers

who have yet to join, maximizing our ability to attract

new users and, in turn, our ability to offer further subsi-

dies.

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We will also encourage retailers to compete for the

attention of users on the Thor network by offering discounts

and promotions for using a Thor VISA Card. This will allow

retailers the opportunity to get visibility with a large network

of potential customers while simultaneously offering users

financial benefits for being a part of that network.

In aggregate, these discounted services will be a driving

force to bring Gig Workers into our network and will give them

tangible benefits for joining. They will also help Gig Workers

with the financial security they are often unable to obtain in

the current Gig Economy.

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Why Blockchain? Blockchain records and transfers data that is transparent,

safe, and auditable. Because blockchain rests upon a distribut-

ed network, it is resistant to outages. Blockchain makes data

and organizations that leverage this technology transparent,

democratic, decentralized, efficient, and secure. Thor Token

uses SHA256 encryption on all user information to ensure

privacy and security. Smart contracts built on blockchain

platforms allow for instantaneous pay and are not suscep-

tible to the breaches of trust freelancers often experience

when trying to receive payment. Together, blockchain-enabled

currencies and smart contracts will be the secret sauce that

makes Thor Tokens a revolutionary solution to the ailments

of the Gig Economy.

According to a 2014 study, one in every two freelancers

had trouble getting paid that year, and 71% of respondents

cited trouble collecting payment at some point in their career.

Even worse, they reported being shorted an average of nearly

$6,000 a year.16 But moving freelancers and contractors onto

a blockchain network will alleviate most if not all of these

payment issues.

In the traditional economy, companies own and control

16 https://fu-web-storage-prod.s3.amazonaws.com/content/advocacy/uploads/resources/FU_Nonpaymen

tReport_r3.pdf

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Traditional Economy

Smart Gig Economy

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all employee data, payment history, and reviews. They are also

the gateways for workers to receive benefits like health insur-

ance and retirement plans. This model creates friction for the

worker and makes it challenging if not impossible to sustain

coverage from one job to the next.

In the blockchain-enabled Smart Economy, Gig Workers

own and control their employment history and reviews. They

can maintain a single health insurance and retirement plan

from gig to gig, because their place in the Thor Token network

will remain constant even if their employment with a particular

On-Demand company is not.

Additionally, utilizing blockchain technology will allow

Thor Token to use Tokenomics for the financial benefit of its us-

ers, providing discounted goods and services simply for using

and holding Thor Tokens. Furthermore, Tokenomics will allow

Thor Token to manage the stability of the network, maintaining

security for the users involved.

Why NEO?

Smart contracts are the instruments that record data and

store blocks of information onto the blockchain. As more and

more companies seek to store data onto the blockchain, speed

becomes an issue. But revolutionary platforms like NEO are

circumventing the issue by allowing 10,000 transactions a

second — all without a transaction cost. This is an important

reason that we have opted to build Thor Token on the NEO

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platform as opposed to a competing platform such as Ethere-

um. Thor Token will be one of the first U.S.-based companies to

utilize the NEO platform, but it almost certainly will not be the

last.

Below is a comparison between Ethereum and NEO that

illustrates why we chose the NEO platform as the blockchain

layer that would be the foundation of Thor Token.

Platform agnosticism

The health of Thor Token network will not be dependent on the

health of any individual blockchain platform. While we believe

that NEO is the best choice of blockchain platform for Thor

Token at this time, we will maintain the ability to be platform

agnostic going forward. This will allow Thor Token to adapt to

any unforeseen changes in the coming years or to switch to a

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more effective or widespread platform should the opportunity

present itself.

It is important for Gig Workers and On-Demand companies

utilizing Thor as well as investors who have chosen to finan-

cially support Thor Token’s vision to know that the long-term

viability of Thor Token will not be dependent on the long-term

viability of any individual blockchain platform.

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Building a BridgeWith cryptocurrencies, Blockchain has already demonstrated

the potential to turn currency into a decentralized utility free

from the control of large central banking systems — a system

where the rules are set by protocols everyone can understand,

not individuals that can act in their own self interest

With Thor Token, we are trying to build a bridge to that fu-

ture. Blockchain currencies will only be able to replace fiat cur-

rencies when they are accepted in enough transactions to fulfill

people’s total economic needs. Likewise, companies will not be

pressured to accept these currencies until a critical mass of

their customers use them. By creating a large network of Thor

Token users, we hope to accelerate the push towards a decen-

tralized economy by making blockchain currencies a bigger part

of more people’s lives. To rapidly build and grow this network of

users, Thor Token will provide a centralized exchange to allow

its users to turn tokens into and out of fiat as they see fit. Thor

will operate this exchange until a decentralized exchange is

available that can suit its users’ needs.

We are looking forward to the day that Thor Token is

used in a completely decentralized way. The Thor platform will

eventually just provide a decentralized market of services that

contracting companies and the contractors they employ are

happy to use; all made possible by the Thor Token.

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Thor-related services being built today

Ideal state of Thor

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TeamCore

David Chin - CEO Head of international business development @Dubai Silicon Oasis — helped

place over 2000 companies and over $10B+ worth of technology growth in

Dubai

Matt Moravec - CTO Built the ad engine currently being used by nytimes.com — architect of A/B

testing and personalization programs at CNN, NYTimes, ABC, NYPost, and

Disney

Christopher Pencavel - COO General Manager @Zesty — responsible for contractor acquisition and reten-

tion and Head of Strategy @Stubhub

Matthew Lawler - CMO Design lead @Volvo — architect of futuristic design lineup. Decade long Cre-

ative Freelancer in the Gig Economy

Leo Rong - Core code contributor Software engineer @Splunk — Stanford Computer Science grad

Reg Clodfelter - Director of Communications PR, marketing, and copywriting for the blockchain industry – freelance jour-

nalist covering finance and real assets

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Advisors

Dr. Robert Mithun

Former Chief of Staff, Kaiser Permanente Hospital, San Francisco and Board

Member, The Permanente Medical Group

Johnny Chin

Bannerman Security CEO

Maarten Verweij

Rotterdam Crypto Capital Group

Ben Lambert

Umpqua Bank Senior Counsel

Elena Elfimova

Google Admob Marketing Lead

Nathan Woo

Cornell, Uber Engineer

Eugene Otto

UVa, Shift Payments

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DisclaimerPLEASE READ – IMPORTANT INFORMATION:

PLEASE CAREFULLY READ THIS SECTION AND THE FOLLOWING SECTIONS

ENTITLED “DISCLAIMER OF LIABILITY”, “NO REPRESENTATIONS AND WAR-

RANTIES”, “RESTRICTIONS ON DISTRIBUTION AND DISSEMINATION”, “REPRE-

SENTATIONS AND WARRANTIES BY YOU”, “NO OFFER OF SECURITIES OR REG-

ISTRATION”, “NO ADVICE”, AND “RISKS AND UNCERTAINTIES”. IF YOU ARE IN

ANY DOUBT AS TO THE ACTION YOU SHOULD TAKE, YOU SHOULD CONSULT

YOUR LEGAL, FINANCIAL, TAX, OR OTHER PROFESSIONAL ADVISOR(S).

The Thor tokens are not intended to constitute securities in any jurisdiction.

This Thor Token Whitepaper (the “Whitepaper”) does not constitute a pro-

spectus or offer document of any sort and is not intended to constitute an

offer of securities or a solicitation for investment in securities in any jurisdic-

tion. This Whitepaper does not constitute or form part of any opinion on any

advice to sell, or any solicitation of any offer by the distributor/vendor or any

related entity, including Thor Technologies, Inc., of the Thor Token (collective-

ly, the “Thor Corporation”) to purchase any Thor Token nor shall it or any part

of it nor the fact of its presentation form the basis of, or be relied upon in

connection with, any contract or investment decision.

If you are in any doubt as to the action you should take, you are advised to

consult your legal, financial, tax or other professional advisors for further

guidance.

DISCLAIMER OF LIABILITY To the maximum extent permitted by the applica-

ble laws, regulations and rules, Thor Corporation shall not be liable for any

Whitepaper 1.2

34

indirect, special, incidental, consequential, or other losses of any kind, in tort,

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 connection with any

acceptance of or reliance on this Whitepaper or any part thereof by you.

NO REPRESENTATIONS AND WARRANTIES Thor Corporation does not make

or purport to make, and hereby disclaims, any representation, warranty or

undertaking in any form whatsoever to any entity or person, including any

representation, warranty or undertaking in relation to the truth, accuracy and

completeness of any of the information set out in this Whitepaper.

RESTRICTIONS ON DISTRIBUTION AND DISSEMINATION This Whitepaper, any

part thereof and any copy thereof must not be taken or transmitted to any

country where distribution or dissemination of this Whitepaper is prohibited

or restricted. In the case where any restriction applies, you are to inform

yourself about, and to observe, any restrictions which are applicable to your

possession of this Whitepaper or such part thereof (as the case may be) at

your own expense and without liability to Thor Corporation. Persons to whom

a copy of this Whitepaper has been distributed or disseminated, provided

access to or who otherwise have the Whitepaper in their possession shall

not circulate it to any other persons, reproduce or otherwise distribute this

Whitepaper or any information contained herein for any purpose whatsoever

nor permit or cause the same to occur.

MARKET AND INDUSTRY INFORMATION This Whitepaper includes market and

industry information and forecasts that have been obtained from internal

surveys, reports, and studies, where appropriate, as well as market research,

publicly available information and industry publications. Such surveys, re-

ports, studies, market research, publicly available information, and publica-

Whitepaper 1.2

35

tions generally state that the information that they contain has been obtained

from sources believed to be reliable, but there can be no assurance as to the

accuracy or completeness of such included information.

REPRESENTATIONS AND WARRANTIES BY YOU By accessing and/or accepting

possession of any information in this Whitepaper or such part thereof (as the

case may be), you represent and warrant to Thor Technologies as follows: a)

you agree and acknowledge that the Thor Tokens do not constitute securities

in any form in any jurisdiction; b) you agree and acknowledge that this White-

paper does not constitute a prospectus or offer document of any sort and is

not intended to constitute an offer of securities in any jurisdiction or a solic-

itation for investment in securities and you are not bound to enter into any

contract or binding legal commitment and no cryptocurrency or other form

of payment is to be accepted on the basis of this Whitepaper; c) you agree

and acknowledge that no regulatory authority has examined or approved of

the information set out in this Whitepaper, no action has been or will be taken

under the laws, regulatory requirements, or rules of any jurisdiction and the

publication, distribution, or dissemination of this Whitepaper to you does

not imply that the applicable laws, regulatory requirements, or rules have

been complied with; d) you agree and acknowledge that this Whitepaper, the

undertaking and/or the completion of the Thor Token Sale, or future trading

of the Thor Token on any cryptocurrency exchange, shall not be construed,

interpreted, or deemed by you as an indication of the merits of the Thor

Corporation, the Thor Token, and the Thor Token Sale; e) the distribution or

dissemination of this Whitepaper, any part thereof or any copy thereof, or

acceptance of the same by you, is not prohibited or restricted by the applica-

ble laws, regulations, or rules in your jurisdiction, and where any restrictions

in relation to possession are applicable, you have observed and complied with

all such restrictions at your own expense and without liability to Thor Cor-

Whitepaper 1.2

36

poration; f) you agree and acknowledge that in the case where you wish to

purchase any Thor Token, the Thor Token are NOT to be construed, interpret-

ed, classified, or treated as:

a. any kind of currency other than cryptocurrency;

b. debentures, stocks, or shares issued by any person or entity (whether

Thor Corporation), rights, options, or derivatives in respect of such deben-

tures, stocks, or shares;

c. units in a collective investment scheme;

d. units in a business trust;

e. derivatives of units in a business trust; or

f. any other security or class of securities.

You have a basic degree of understanding of cryptocurrencies, block-

chain-based software systems, cryptocurrency wallets, or other related to-

ken storage mechanisms, blockchain technology, and smart contract technol-

ogy; h) you are fully aware and understand that in the case where you wish

to purchase any Thor Token, there are risks associated with Thor Corporation

and their respective business and operations, the Thor Token, and the Thor

Token Sale (each as referred to in the Whitepaper); i) you agree and acknowl-

edge that Thor Corporation is not liable for any indirect, special, incidental,

consequential, or other losses of any kind, in tort, contract, or otherwise (in-

cluding but not limited to loss of revenue, income or profits, and loss of use

or data), arising out of or in connection with any acceptance of or reliance on

this Whitepaper or any part thereof by you; and rights under a contract for

differences or under any other contract the purpose or pretended purpose of

which is to secure a profit or avoid a loss; j) all of the above representations

and warranties are true, complete, accurate, and non- misleading from the

time of your access to and/or acceptance of possession this Whitepaper or

such part thereof (as the case may be).

Whitepaper 1.2

37

NO OFFER OF SECURITIES OR REGISTRATION This Whitepaper does not con-

stitute a prospectus or offer document of any sort and is not intended to

constitute an offer of securities or a solicitation for investment in securities in

any jurisdiction. No person is bound to enter into any contract or binding legal

commitment and no cryptocurrency or other form of payment is to be ac-

cepted on the basis of this Whitepaper. No regulatory authority has examined

or approved of any of the information set out in this Whitepaper. No such

action has been or will be taken under the laws, regulatory requirements, or

rules of any jurisdiction. The publication, distribution, or dissemination of this

Whitepaper does not imply that the applicable laws, regulatory requirements,

or rules have been complied with.

NO ADVICE No information in this Whitepaper should be considered to be

business, legal, financial, or tax advice regarding Thor Corporation, the Thor

Token, and the Thor Token Sale (each as referred to in the Whitepaper). You

should consult your own legal, financial, tax, or other professional advisor

regarding Thor Corporation and their respective businesses and operations,

the Thor Token, and the Thor Token Sale (each as referred to in the Whitepa-

per). You should be aware that you may be required to bear the financial risk

of any purchase of Thor Token for an indefinite period of time.

RISKS AND UNCERTAINTIES Prospective purchasers of the Thor Token (as

referred to in this Whitepaper) should carefully consider and evaluate all

risks and uncertainties associated with Thor Corporation and their respective

businesses and operations, the Thor Token, and the Thor Token Sale (each as

referred to in the Whitepaper), and all information set out in this Whitepaper

prior to any purchase of Thor Token. If any of such risks and uncertainties

develops into actual events, the business, financial condition, results of oper-

Whitepaper 1.2

38

ations, and prospects of Thor Corporation could be materially and adversely

affected. In such cases, you may lose all or part of the value of the Thor

Token.