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Disclaimer

"PURPLE" refers to the cryptographic token found at address purplepurple on the WAX blockchain, and any distinctions, restrictions, and terms defined for PURPLE also apply to the tokens BLUx bluxbluxblux and BLU blublublublu and SOL. "Purple" refers to the Intentional Attention Economy that is a combination of PURPLE, BLUx, BLU, and SOL. "Current X Change" and "cXc" refer to Current X Change LLC, registered in Maryland, USA. "Mapps", "mapp" and "cXc.world" refer to launched and planned mapping applications hosted on subdomains of https://cxc.world "Repo" refers to all documents in the same github repo this disclaimer.md is found.

This is not an offer or solicitation to buy any digital assets or securities. PURPLE is a token whose functionality is integral to our applications as described in this repo. Current X Change does not promise to to make money for its holders. PURPLE seeks to provide the owners (including earners and investors) the power to promote media and other informational content on the Mapps (Mapps meaning Mapping Applications produced by Current X Change LLC) defined in this whitepaper, including but not limited to cXc Music, cXc Video, cXc Scribe, cXc Art, cXc News, cXc Games, cXc Ideas, cXc Solutions, and cXc Pueblo. We make no claim or predictions of the future PURPLE price in this or any other content produced by Current X Change LLC, employees, or associates.

cXc makes no effort to control or manipulate the market price of PURPLE o BLUx on any markets, but may engage in trading any of these tokens for any purpose at any time, including but not limited to Alcor.exchange and Newdex.io. Initial release market orders are described in Exchange-Listing.md. Any trading is public knowledge via the Team accounts.

If you choose to purchase PURPLE (PURPLE), you accept that you have read and agree to our token purchase agreement.

Use your best judgment and consider your goals for this incarnation before investing energy or assets in anything. This document and repo can be changed at any time without notice. You are responsible for complying with local jurisdictional laws and regulations. You are responsible for being the being you want to be.

You are responsible for keeping your private key(s) safe. You are also responsible for providing the correct public key to receive your funds. You are responsible for any loss in tokens from misappropriating your private key(s), using a faulty wallet, sending to the wrong address, writing the wrong memo, or any other technical consideration outside of the control of Current X Change LLC.

Purchasing PURPLE does not grant voting power in Current X Change LLC, or any other organization. PURPLE cannot be directly used to influence incorporating applications, even cXc.world. PURPLE does not hold any voting power by itself until exchanged for other assets at market rate and/or rates set by Current X Change. The amount of voting power PURPLE can be exchanged for fluctuates over time and is different for every application utilizing a Purple Intentional Attention Economy system. We cannot and do not guarantee PURPLE to be worth any specific amount of currency or influence in any application at any future time.

State of completion

Current X Change makes no guarantee that the mechanisms described in this repo are functional or will be functional at any specific time in the future. Changes in Purple may take place at any time without notice. Only max supply of the Purple-related tokens cannot change, plus founder pay, and liquidity promise.

Current X Change LLC Members in the System

All members and associates of the Current X Change LLC organization are NOT barred from participating in the Purple economy, including but not limited to earning rewards according to the Mapps paper, and trading PURPLE, BLU and BLUx.

The founder will only receive 1% of their pay in PURPLE in 2021, and 2% in 2022.

PURPLE is not a security.

PURPLE is not a security asset. PURPLE and Current X Change LLC use the terminology used by many ICOs, cryptocurrencies and other token sales, but do not follow the investment model of other tokens that may be securities. The PURPLE token is for use only in cXc Mapps, with the opportunity to be incorporated later on by other applications. This token is integral to the utility of the application, such that the application would not be possible without it. Current X Change LLC makes no promise or suggestion that this token will make the owner’s money.

Howey Test

Using the Howey test, we can see that PURPLE token is clearly not a security. Under the Howey Test, a transaction is an investment contract if, and only if, all of the following four conditions are met:

  1. It is an investment of money
  2. There is an expectation of profits from the investment
  3. The investment of money is in a common enterprise
  4. Any profit comes from the efforts of a promoter or third party

Here we will examine why PURPLE is not a security, and can be sold in the United States without adhering to the regulations set out for securities by the SEC. While it can be argued that some of these conditions are met, it is unreasonable to conclude that all four conditions met. The numbered points are addressed below.

  1. Although money can be indirectly used to purchase PURPLE buy first purchasing WAX, it is not needed to acquire the token, nor can it be to directly acquire PURPLE. The token can be earned in through actions on cXc.world, and through actions defined by Current X Change LLC and third party applications incorporating the PURPLE Intentional Attention Economy, neither of which require investment of another asset or money.

  2. Documents in this repo makes it clear that the token’s value is exposure on the applications produced by Current X Change LLC and third party applications incorporating the PURPLE Intentional Attention Economy. We are selling the ability to empower the creators of the world, not the return on investment in purchasing this utility token. Any person purchasing PURPLE for financial gain has created that idea through their own deduction, not through the promotional efforts of Current X Change LLC, nor any associated person or entity.

  3. The Intentional Attention Economy of Purple operates completely without money. Creators can earn and spend PURPLE without ever touching money. Any financial market created for this token is separate from its function, and not needed for the operation of the token, nor for the operation of Purple.

  4. Though the definition of a "common enterprise" differs in the courts, it can be argued that PURPLE does and also does not fit the common definition. While the token itself may represent a common enterprise in the sense that each token can be exchanged at market value for another currency, the actual value received for PURPLE is different for each user, most noticably in the differing incentives for Artists and Fans, but also for each individual staker, and each individual piece of content that is the recipient of these Ups.

  5. The return on investment from the holding of PURPLE is stated in this repo to be the continual upvotes received on a piece of content. There is no monetary gain mentioned in this or any other Current X Change publication about Purple or PURPLE.

At no time do promoters or third parties infer the future monetary value of PURPLE or any profits associated with owning PURPLE. PURPLE’s stated value is in the utility in mapps and third party applications incorporating the Purple system, as described in this repo. That value is not guaranteed to continue, nor does Current X Change make any guarantee that cXc.world or any other services they offer be online at any time, nor that the functionality of the apps online will or won't change over time.