OUD TOKEN  The Link between Humanity and the Environment   

WHITEPAPER   

(version 1.0)  

 

 

Disclaimer : This Whitepaper is provided for informational, familiarization and discussion                    purposes only. Research and development is in progress and new versions of this paper will be                                published on the project website. No part of this document is legally binding or enforceable,                              nor any obligation to be materialized until it is discussed, reviewed and revised by the                              company’s board of directors and lawyers. Please do not distribute this document in full or in                                part without this statement.  

     

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Director’s Responsibility Statement

The Directors of OUD Limited have issued this White Paper and have taken all reasonable care to ensure that the facts stated in this document are true and accurate in all material respects, and that there are no other facts the omission of which would make misleading any statement in the document, whether of facts or of opinion. The Directors accept responsibility accordingly.

Summary of Legal Considera�ons, Risks and Disclaimers

IMPORTANT NOTICE: Please read the en�rety of this “Summary of Legal Considera�ons, Risks and Disclaimers” sec�on carefully. We recommend you consult a legal, financial, tax or other professional advisor(s) or expert(s) for further guidance prior to par�cipa�ng in the OUD Token Genera�on Event outlined in this White Paper. You are strongly advised to take independent legal advice in respect of the legality in your jurisdic�on of your par�cipa�on in the Token Genera�on Event. You should note that in the Token Sale Terms and Condi�ons that you will be acknowledging and accep�ng as part of the process to par�cipate in the OUD Token Genera�on Event, you will represent that you have indeed taken independent legal advice.

Please note that this is a summary of the “Legal Considera�ons, Risks and Disclaimers” document which can be found at [ link ] and which you must read in full before: (i) making use of this White Paper and any and all informa�on available on OUD Limited’s (the “ Company ” or “ OUD ”) website at [h�ps://oudtoken.com/] (the “ Website ”) and/or (ii) par�cipa�ng in the Company’s token genera�on event outlined in this White Paper (the “ Token Genera�on Event ”). Any undefined capitalised terms below shall have the meaning set out in the “Legal Considera�ons, Risks and Disclaimer” paper. This summary should not be relied on in place of reading the “Legal Considera�ons, Risks and Disclaimers” paper in full. The informa�on in this White Paper and all informa�on available on the Website shall hereina�er be referred to as the “ Available Informa�on ”.

The “Legal Considera�ons, Risks and Disclaimers” paper, the full version of which was men�oned above, applies to the Available Informa�on. The contents of the “Legal Considera�ons, Risks and Disclaimers” paper outlines the terms and condi�ons applicable to you in connec�on with (i) your use of any and all Available Informa�on; and/or (ii) your par�cipa�on in the Token Genera�on Event, in each case in addi�on to any other terms and condi�ons that we may publish from �me to �me rela�ng to the Token Genera�on Event (such terms hereina�er referred to as the “ Terms ”).

This White Paper states the current views of the Company concerning the OUD pla�orm and related ma�ers. The Company may from �me to �me revise this White Paper in any respect

without no�ce. The informa�on entered in this White Paper is indica�ve only and is not legally binding on the Company or any other party. This document is for informa�onal purposes only and does not cons�tute and is not intended to be an offer to sell, a solicita�on of an offer to buy, or a recommenda�on of: (i) the Company, (ii) an investment in the OUD Pla�orm or any project or property of the Company, or (iii) shares or other securi�es in the Company or any affiliated or associated company in any jurisdic�on.

The informa�on set forth in the “Legal Considera�ons, Risks and Disclaimers” paper may not be exhaus�ve and does not imply any elements of a contractual rela�onship. While we make every reasonable effort to ensure that all Available Informa�on is accurate and up to date, such material in no way cons�tutes professional advice. Individuals intending to par�cipate in the Token Genera�on Event should seek independent professional advice prior to ac�ng on any of the Available Informa�on.

The Company does not recommend purchasing Tokens for specula�ve investment purposes. Tokens do not en�tle you to any equity, governance, vo�ng or similar right or en�tlement in the Company or in any of its affiliated companies. Tokens are sold as digital assets, similar to downloadable so�ware, digital music and the like. The Company does not recommend that you purchase Tokens unless you have prior experience with cryptographic tokens, blockchain-based so�ware and distributed ledger technology and unless you have taken independent professional advice.

Ci�zens, na�onals, residents (tax or otherwise), green card holders and/or Restricted Persons of any Restricted Jurisdic�on shall not process the Available Informa�on and are prohibited from par�cipa�ng in the Token Genera�on Event or the purchase of Tokens or any such similar ac�vity.

In no event shall the Company or any current or former Company Representa�ves be liable for the Excluded Liability Ma�ers.

The Company does not make or purport to make, and hereby disclaims, any representa�on, warranty or undertaking in any form whatsoever to any en�ty or person, including any representa�on, warranty or undertaking in rela�on to the truth, accuracy and completeness of any of the informa�on set out in the Available Informa�on.

You should carefully consider and evaluate each of the risk factors and all other informa�on contained in the Terms before deciding to par�cipate in the Token Genera�on Event.

This White Paper may be translated to different languages but in the event of a conflict between documents, the English version of the White Paper will prevail.

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General Information  _________________________________________________________________________________

OUD Standard is a blockchain-based firm that combines modern blockchain technology with one                          of the oldest multibillion dollar Agarwood Industries. OUD Standard has designed, created a token                            which will be operating on two networks, Binance Smart Chain and Ethereum Smart Chain.  

 Token investors will be able to buy, earn, stake, redeem OUD tokens, and be entitled to join the                                    community. Within the community, token holders can participate in exclusive events and vote for                            future development projects of the company. Voting events such as donations to charity                          associations, acquiring of land and many more will be made available. Building a community                            through engagement and incentivization for the eco-environment.  

 

What is OUD Token?  _________________________________________________________________________________

OUD Token will be the world’s first biological token supported with agarwood trees. The company                              combines blockchain technologies with a multibillion dollar industry. It will be more than just a                              token that is related to Agarwood. An ecological token at the same time that aims to bring more                                    green life to the world. A living token that is on a mission to make this world a greener                                      environment and preserve our precious wild forest. We want to create a balance between the                              social, environmental and financial sector. The world is getting to a point of no return, however, it                                  is still not too late to take action. By joining forces (investors and big corporations) together we                                  can make a big impact.  

OUD tokens look to become the bridge between the real world and virtual world by bringing a safe                                    haven store of value onto the blockchain.  

At a later phase of the development, people will be able to spend tokens freely on the crypto                                    ecosystem. Currencies should exist in an easily accessible e-wallet and in time connected to                            debit cards to be spent in the real world market. A new era for cryptocurrencies, combining the                                  historical safety of the whole agarwood industry, with the efficiency of digital currency. Possess                            the ability to maneuver around the world at speed for free, while stabilizing other cryptocurrency                              transactions.  

The token aims to provide the foundation on which a stable decentralized economy can be built.                                Enabling diversification of an individual's cryptocurrency portfolio and can act as almost a reserve                            currency. It can be used as collateral for lending and other financial products . So if the debtor                                    doesn’t repay in time, the internet could be calculated on the basis of a regulatory stable store of                                    value.  

 

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The Agarwood Ecosystem  

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“Agarwood” , categorized as a highly critically endangered species on the International Union for  Conservation of Nature (IUCN) red list. We are preserving the species and with the help of  everyone, we will be able to expand greatly in this industry (all around South East Asia).  

A delicate balance needs to be struck between cultivating and conserving the trees and  supporting the local communities that depend on these natural resources for their livelihoods.  Demand of the trees will be balanced against the loss of biodiversity, able to bring a healthy  ecosystem productivity. Not just lowering carbon dioxide emissions.  

Agarwood Tree Powers:  

1. CO2 Absorption   - In the life cycle, each one will offset CO2. The tree will offset the emission emitted by you.                                    

How much CO2 can you reduce?  

 

2. Economic Development   - The tree’s precious resin, and other products derived from the Agarwood tree will be                            

traded internationally and locally.   - Valuable fruition ; highly prized resin , tea leaves, wood chips   

 

3. Environmental Protection  - Agarwood Trees planted in the ecosystem provide the virtuous interaction between the                        

different species and their positive impact on the environment and on the land.  

 

 

 

 

 

 

 

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Why Agarwood as the Bio-Asset?  

________________________________________________________________________________  

Agarwood, also known in many different regions as aloeswood , oudh , jinko , chen-xiang , or gaharu                            is a resin filled wood produced by a genus of tropical trees known as Aquilaria [6]. This genus of                                      trees are native to the SouthEast Asia region. It is highly prized for its aromatic properties and has                                    been traded in the Middle East, China, Japan and India for thousands of years with a long history                                    of being used in the manufacturing of perfume, incense and traditional medicine [7]. Agarwood                            traded out of Singapore alone has been estimated to exceed USD $1.2 billion each year [8]. The                                  agarwood resin only occurs naturally in 10% of trees of this species. It is produced as a resinous                                    response by the tree as a result of a combination of external factors such as wounding, bacterial                                  or fungal infections [9]. This extremely resilient tree produces more valuable resins as it is stressed                                by its natural environment. The quality and grade of the resin produced continues to increase with                                the age of the tree. Although occurring in other genera of similar plants, resin produced from                                Aquilaria is generally considered the highest quality while other genera are thought to produce                            inferior types [10].  

In cultivating agarwood, plantations are able to manipulate the production and quality of resin                            through various natural and man-made induced inoculation methods. The average agarwood                      tree has a lifespan of over 100 years, grows to 2.5 – 3.5 feet in diameter, 100 feet in height and has                                            the potential to continue to produce resin throughout its lifetime [9]. Agarwood is planted in                              hundreds of acres’ agricultural land and grows into lush forests making it an extremely                            sustainable and eco-friendly initiative. It is also one of the few natural commodities that has a                                linear growth production rate in quality and volume.  

Agarwood is commonly traded in three different forms; wood chips, powder or oil. Agarwood oil                              can be sold for USD $10,000 to USD $14,000 per liter. While its value is dependent on the many                                      different grades, the rarest and highest quality of agarwood are known command prices of a                              staggering USD $2 million per kilo [11], compared to the highest price of gold in recent history at a                                      little over USD $67,000 per kilo.  

Incense made from agarwood oil is so sought after that it is known as ‘liquid gold’ while agarwood                                    plantations are commonly referred to as a ‘green forest gold’ because other than its raw                              materials, the agarwood community has also produced many retail based products such as tea,                            soap, decorations, bracelets and necklaces which further increase the financial value and                        potential of this industry [11].  

However, the cost of entry into this industry is still high enough that not everyone can just decide                                    to start planting and harvesting agarwood on a whim. Agarwood trees only grow in tropical                              climates, mature at 5 years of age and grow into large forest trees. Planting agarwood for industry                                  consumption requires multiple other factors such as access to large areas of agricultural land,                            manpower, inoculation technology, harvesting and production capabilities and transport logistics.   

The agarwood industry is extremely lucrative with an increasing rate of production as the trees                              continue to mature and grow. Agarwood plantations are renewable, sustainable and eco-friendly.                        

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 Its production is balanced with a high barrier to entry requirements, which means it is difficult to                                  attempt to destabilize its prices by manipulating supply or demand.   

By combining physical asset tracking technologies on a blockchain based Smart Contract token,                          we will be able to record and track the value of each tree in a secure and trusted way.  

1 The Agarwood Industry  

Agarwood is traded in raw forms such as large portions of trunks, chips, flakes and oil. Branch or                                    trunk sections are the largest forms in trade and maybe one to two metres in length and weigh                                    more than 10-20 kg. These large sections command a high price as it is relatively costly to                                  transport and not easily adulterated.  

Chips and flakes are the most common forms of agarwood in trade. Only 10% of a large piece of                                      agarwood can be converted into chips or flakes as the remainder is sold as powder or dust to be                                      used for oil distillation.   

Agarwood powder is normally produced as fine powders in even sized particles. Powders are very                              susceptible to adulteration and are often mixed with powder from healthy wood, ironically not                            what is wanted in the agarwood trade. Therefore, agarwood powder is much less expensive than                              chips, flakes or wooden sections.  

Agarwood oil is highly valuable and the most frequently traded product. Oil is produced from                              distillation of agarwood chips and powder. Distillation is the most cost-effective method of                          producing oil, however its yield is generally very low and the extraction process is tedious and                                time consuming. Agarwood oil is usually the most expensive form of agarwood trade.  

1.1 Classification and Grading  

Agarwood classification table as provided by the Malaysian Timber Industry Board.  

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Class   Definition   Grade  

Aroma   Agarwood in the form of chips and flakes contain                  resins, which is distilled for its aromatic properties   

Super  

A  

B  

Block   Blocks of agarwood are graded by size, density                and resin contents. Blocks are also used to                produce carvings, beads and bracelets  

Tiger Stripes  

Color  

Shape / Sculpture  

Classic   Resinous pieces of wood or woods with natural                unique shapes with aesthetic values  

Classic  

 

1.2 Agarwood Price  

Agarwood prices have continued to rise over the last decade, as demand in the production of oils,                                  perfumes and incense increases in countries such as China, Taiwan, Japan and the Middle East.  

Agarwood has been classified into multiple grades which correlates with its rarity, quality and                            production:  

Figure 1: Agarwood Grade Classification By Malaysian Timber Industry Board  

 

Agarwood trees at 7 years’ growth would yield an average of 1-2 kg of resin per harvest. Artificially                                    inoculated Agarwood trees are generally ready for harvest after 12-18 months after inoculation,                          whilst traditionally inoculated trees may take 36-48 months after inoculation. With modern                        inoculation and harvesting techniques, once mature, the Agarwood tree can be harvested once                          

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Dust   Agarwood powder or dusts which are produced              as a result of cleaning or oil extraction  

Black  

Grey  

Yellow  

Dust for oil  

Dust for incense  

Waste product  

Extractable  Wood  

Pieces of wood and logs of various sizes which do                    not contain a lot of resin. Used as the main                    ingredient for oil distillation and production of              incense  

C  

Fragrance   Pieces of wood which contain resin on its surface                  only with uniform resin stripes  

A1  

A  

B  

Resin Grade   Market price estimate (USD)  Super King   $5,000 - $10,000 /kg  Double Super   $5,000 /kg  Super   $2,500 – $3,000 /kg  Grade A1 to A7   $250 – $2,000 /kg  Grade A8 to A10   $200 - $300 /kg  Unprocessed resin for oil production    $80 - $100 /tola (12 ml)  Processed Oud Oil   $350 - $450 /tola (12 ml)  

 every year. As the agarwood tree continues to mature, its yield increases and it is known to age                                    well over a hundred years.  

Certain grades of naturally formed resins can fetch prices up to USD $300,000.00 per kg. Prices                                also tend to vary from each region the agarwood is produced.   

Based on available trade data, the biggest producers of agarwood are Indonesia and Malaysia                            while healthy booming industries are beginning to sprout in Vietnam and India. Its largest                            demand is from Singapore, China, and the Middle East.   

1.3 Planting and Trade Standards  

In 1995, Agarwood was listed on Appendix II of the Convention on International Trade in                              Endangered Species of Wild Fauna and Flora (CITES) and the listings went into force for all                                agarwood producing species of Aquilaria on 12 th January 2005.  

CITES is an international agreement between governments to ensure that trade in specimens of                            wild animals and plants do not threaten the survival of the species. Over the years, workshops                                organized by CITES, in collaboration with the International Tropical Timber Organization (ITTO)                        have managed to implement trade standards and regulations to many agarwood producing                        countries.  

The purpose the joint ITTO-CITES workshops was to increase progress on:  

● the management and conservation of agarwood-producing species;  ● the formulation of non-detriment findings (NDFs)  ● the adoption of management strategies that integrate the overall management of                      

agarwood-producing natural forests with plantations of agarwood-producing species;                and  

● strengthening the agarwood stakeholder communication network.  

The expectations of agarwood trade:  

● Sustainability  a. Continuity of supply (from the wild or plantations)  b. The use of NDFs (non-detriment findings)  c. Sustainability of traditionally dedicated agarwood resources  

● Traceability and legality  a. Practices should conform to local laws (quotas, restrictions etc.)  b. Harvesters, collectors and traders should be registered  c. Proper registration systems should be developed   

● Quality and type of products   a. Agarwood products in both raw and processed forms should be labelled and                        

tracked  

 

 

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Bio-Asset Management Platform ________________________________________________________________________________

1.1 Bio-Asset Definition  

International Accounting Standard 41 (IAS 41) defines biological assets as living plants or animals                            which by the process of agricultural activity are transformed into agricultural produce, a                          harvested product of the entity’s biological asset. Biological assets keep on transforming over                          their life cycle, they grow, produce and may degenerate over time.   

A bearer plant is used in production or supply of the agricultural produce and is expected to bear                                    produce for more than one period, with a remote likelihood of being sold as agricultural produce,                                other than incidental scrap sales.   

1.2 Bio-Asset Pledge  

In the project, bio-assets are agarwood trees pledged by a planter federation, a group of                              commercial and private planters.   

Based on ITTO/CITES standards and workshop findings for agarwood trade, the conditions for                          submitting plantations or trees for pledging:  

● Harvesters and plantations must have a valid registration certificate with their local                        agricultural entities  

● Trees are not supplied from the wild, but rather planted on agricultural land or private                              estates  

● Use of NDF (Non-Detrimental Findings)  ● Harvesting practices must conform to local laws   ● Pledged trees must be a minimum of 5 years’ old   

1.3 Smart Contract Definition  

Smart contracts are self-executing and self-enforcing contracts with terms of agreement and                        execution written in programming code and distributed within the blockchain network. Smart                        contracts are traceable, transparent, irreversible and allow transactions to be executed in a                          trusted environment.   

Smart contracts are used today to facilitate exchange of assets between two anonymous parties,                            usually over the web, without the need of a middleman.   

The smart contract can be programmed to execute any set of instructions and automatically                            enforce and validate its conditions.   

The transactions or the results of the smart contract are then stored and replicated in the                                blockchain ledger, which gives it a certain level of security, immutability and trust.  

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1.4 Platform Design  

The concept of utilizing blockchain smart contracts to track and trace assets and materials is not                                a novel one. Walmart and Nestle are working with IBM to utilize blockchain smart contracts and                                create a decentralized environment to record and trace the history of the production supply chain                              from ‘farm to fork’. A supply chain organized on a blockchain ledger could track all data, making it                                    accessible in minutes rather than days or weeks.  

We will be utilizing the same concepts of combining blockchain smart contracts with existing                            software platforms and IoT devices to achieve the same goal.   

The platform will be designed on a native blockchain environment integrated to multiple devices                            specialised for track and trace activities.    

In developing the Smart Contract platform, we will focus on key areas in order to (ideally) allow us                                    to:  

1) Record and identify the asset  2) Record and prevent unauthorized harvesting  

The smart contract platform will be created on a private bio-asset blockchain environment                          derived from the Ethereum Virtual Machine (EVM) architecture, whereby only entities participating                        in the network are able to read/write transactions.   

An API based communication layer will be created to connect the bio-asset blockchain with third                              party software systems and external hardware such as RFID readers and other handheld devices.  

A transaction in this environment is defined as the process of recording an activity and verifying                                the metadata of each underlying tree and communicating with other 3 rd party entities.  

 

Figure 2: Bio-Asset Smart Contract Token Layer  

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Token Layer   Smart Contract Metadata   Network Identities  

Tree Token  

● RFID   ● Plantation ID, Tree ID  ● Tree metadata: Age,  

height, diameter etc.  

● Plantation administrators  ● Individual trees  ● Planters  ● Inoculators  

 Transactions in the token environment are generated by smart contracts that govern the                          activities and conditions for such a transaction to be recorded.    

This method and use of the blockchain ensures that the bio-asset is traceable from the point of                                  tagging. The monitoring process will add great values to the entire supply chain of the plantation.                                By assigning and linking RFID chips to each tree, it enables the traceability of information of each                                  tree thus helps us in making future planning. These valuable datas will help in preventing fraud                                within the industry and providing data which are transparent for shareholders’ reassurance.   

Figure 3: Bio-Asset Token Workflow  

1.5 Recording and Identification of Bio-Assets  

 

● Agarwood trees are pledged into the program by a federation of corporate plantations,                          private planters and our own existing plantations.  

● Each tree is tagged with a RFID device which is then used to create an identity of the tree in                                        the Token environment of the bio-asset blockchain.  

● By using the data collected from the RFID device, it enables us to accurately study our                                assets based on its condition, age, inoculation history and current market value of                          agarwood oil.  

   

 

 

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Token Structure and Value  

________________________________________________________________________________

 

 

 

OUD Token will operate on two networks, Binance Smart Chain (BEP20) and Ethereum Smart Chain                              (ERC20) standard. Standard rules apply to all ERC20 and BEP20 tokens which allows them to                              interact with each other on the blockchain network.   

These tokens allow for an exchange of assets of value and can be sent and received like any other                                      cryptocurrency such as Bitcoin or Ethereum through generation of addresses and wallets which                          facilitate these transactions.  

The long term goal of OUD is to branch into a native blockchain network once its market                                  capitalization and value warrants such a move.  

The OUD blockchain will be a separate blockchain environment from its Bio-Asset Platform                          counterpart. However, we plan to build a communication layer in which a smart contract                            deployed on the OUD environment will be able to retrieve the latest values from the bio-asset                                platform in order to manage the OUD value, supply and maintain market price.  

 

 

 

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Token Economics   

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OUD will be conducting two stages of fundraising events through the process of initial coin                              offering (ICO) for the development of the OUD platform.   

OUD Token Metrics  

● Standard : ERC-20 & BEP-20  ● Token Supply : 2,000,000,000  ● Initial Circulating Supply : 900,000,000  ● Tokens Release for Public Sale : 700,000,000  ● Initial Market Cap :   ● Fully Diluted Market Cap :  ● Pre - ICO Price : $0.04 USD  ● Public ICO Price : $0.07 USD   ● Token Utility : Governance, Staking   

Pre - ICO Sale   

Total OUD Tokens Released for sale : 120,000,000  Pre - ICO Price : $0.04 USD  Lockup Period : 2 months upon listing, 25% will be released once listed on exchange  

   ICO Public Sale   

Total OUD Tokens Released for sale : 580,000,000  ICO Sale Price : $ 0.07 USD  Lockup Period : 1 month upon listing, 25% will be released once listed on exchange   

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Funds Utilization  

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The funds collected from the ICO, 60% of the funds will be utilized for project development                                activities, while the remaining 40% will be allocated as a reserve for the token ecosystem.  

   

 

 

 

 

 

 

 

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Project Utilization Fund (60% from the ICO)  

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1. Build and deploy the Bio-Asset Smart Contract Platform native blockchain environment,  inclusive of RFID tagging for asset track and trace purposes  

2. Development of payment infrastructure and mobile wallet for phase 2   

3. Legal and Administrative costs  

4. Land acquisition and planter share  

5. Marketing activities  

 

 

 

 

 

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How to Earn OUD Token?   

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OUD Standard rewards its community users for participating in exclusive events where valuable                          feedback and information is gathered to make sound decisions. OUD Token encourages the                          community’s/token holder’s involvement, as it plays a crucial part in determining the trajectory of                            the ecosystem.   

 

Users will be able to earn or use OUD Tokens in a few ways scheduled in the roadmap:  

 

 

 

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Roadmap  

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1 Legal Disclaimer The information within this document is intended for the familiarization process only. All descriptions of the                                project, its systems, processes or functional modules may change during the development process.   

By participating in the ICO Pre-sale and/or Public Sale or making use of any information in this whitepaper or                                      available on the project website, you agree to the following:  

● User understands and acknowledges that OUD will be provided by the Presale and/or ICO smart contract                                in the order that transactions are received by it and no alteration of this can be made by any party  

● User understands that Westwood Group carries no liability for the ability to take part in the Pre-sale                                  and/or OUD for reasons beyond the control of Westwood Group including but not limited to the Pre-sale                                  and/or OUD duration, transaction mining delays and node-related issues  

● Pending a successful Pre-sale and/or OUD, Westwood Group team members will be focused on                            completing the company start-up and delivering on milestones. However, Westwood Group undertakes                        no obligations to act on behalf and in the interests of User in the Pre-sale and/or OUD being held in the                                          future  

● User understands that by transferring assets to Westwood Group, User makes the final decision on                              deposition of cash or other assets and has no right of refund except that which is provided by the                                      Pre-sale and/or OUD smart contract code itself (that being, a 100% refund when capital raised is under                                  the minimum cap and the Pre-sale and/or OUD/public sale period has expired)  

   

NO WARRANTIES  

All of the information provided within this whitepaper is provided “AS-IS” and with no warranties. No express                                  or implied warranties of any type, including implied warranties of merchantability or fitness for a particular                                purpose, are made with respect to the information, or any use of the information, on this site or platform.                                      Westwood Group makes no representations and extends no warranties of any type as to the accuracy or                                  completeness of any information or content in this whitepaper or regarding this platform.  

 DISCLAIMER OF LIABILITY  

Westwood Group, specifically disclaims liability for incidental or consequential damages and assumes no                          responsibility or liability for any loss or damage suffered by any person as a result of the use or misuse of any                                            of the information or content in this whitepaper or on the ekotoken.io website. Eko Westwood Group assumes                                  or undertakes no liability for any loss or damage suffered as a result of the use, misuse or reliance on the                                          information and content in this whitepaper or on the ekotoken.io website. In no event shall Westwood Group,                                  be liable to User for any special, indirect, incidental, consequential, exemplary or punitive damages                            (including lost or anticipated revenues or profits and failure to realise expected savings arising from any                                claim relating to the services provided by Westwood Group,) whether such claim is based on warranty,                                contract, tort (including negligence or strict liability) or otherwise or likelihood of the same.  

 

 

 

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USE AT YOUR OWN RISK  

By using the Pre-sale and/or ICO smart contract for OUD, or oudtoken.com website including but not limited                                  to the transferring assets to Westwood Group, User confirms that he undertakes and understand all the                                possible risks that directly or indirectly arise from the activity connected with User’s participation in the                                Pre-sale and/or STO and/or use of Westwood Group, services and products.  

 FORCE-MAJEURE  

User understands that Westwood Group will not be liable to User for any breach hereunder, including for                                  failure to deliver or delays in delivery of the Services occasioned by causes beyond the control of Westwood                                    Group including but not limited to unavailability of materials, strikes, labour slowdowns and stoppages,                            labour shortages, lockouts, fires, floods, earthquakes, storms, droughts, adverse weather, riots, thefts,                        accidents, embargoes, war (whether or not declared) or other outbreak of hostilities, civil strife, acts of                                governments, acts of God, governmental acts or regulations, orders or injunctions, or other reasons, whether                              similar or dissimilar to the foregoing (each a “Force Majeure Event”).  

 

FINAL WARNING  

Pre-sale and/or STO participations can be considered High-Risk Trading; purchasing financial instruments                        via a Pre-sale and/or STO or utilising services offered on the website may result in significant losses or even                                      in a total loss of all funds invested.  

● No information provided on OUD’s platform or website should be interpreted as investment advice. It                              does not constitute an offer or invitation to Westwood Group to any User to buy or to sell tokens or make                                          any investment.  

● User guarantees that he is a legally capable person of a majority age and complies with legal rules and                                      applicable laws of the jurisdiction where the User lives.  

● By participating in the Pre-ICO and/or ICO User confirms that he has read, understood and agrees to                                  comply with all restrictions set forth above.  

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References  

21    

[1]    J. A. J. H. H. v. B. Robert A. Blanchette, “Growing Aquilaria and Production of Agarwood in Hill                                    Agro-ecosystems,” Department of Plant Pathology, University of Minnesota.  

[2]    Z. Z. H. M. J. H. Huaiqiong Chen, “Whle-tree Agarwood-Inducing Technique for Producing High Quality                              Agarwood in Cultivated Trees,” Molecules, March 2013.   

[3]    Agronews, “APC is Today's South East Asia' Largest Agarwood Processing Factory in Malaysia,” 22 MArch                              2015. [Online]. Available:      http://www.agroforestrynews.com/asia-plantation-capital-is-todays-south-east-asias-largest-agar wood-processing-factory-in-malaysia/.  

[4]    N. A. A. T. M. M. S. Angela Barden, “Heart of the Matter: Agarwood Use and Trade and CITES                                      Implementation for Aquilaria Malaccensis,” CITES, 2000.  

[5]    N. A. A. Lim Teck Wyn, “Wood for the Trees: A Review of Gaharu Trade in Malaysia,” Traffice SEA, Selangor,                                        2010.  

[6]    ITTO-CITES, “Report of the Asian Regional Workshop on the Management of Wild and Planted Agarwood                              Taxa,” ITTO-CITES, Assam, India, 2015.