The gold paper states below:
1. Purpose and Use of Tokens
Use for Governance Only. The sole utility of holding $WLFI is governance, and not for any investment. As a Token holder, you’ll have the power to propose and vote on proposals that will help to shape the future of the World Liberty Financial Protocol (the “WLF Protocol”). This includes decisions on marketing initiatives, future functionality, and more, as described further in the World Liberty Financial Gold Paper (the “Gold Paper”). $WLFI will be functional for its stated utility as governance tokens at time of the Token Sale.
No Economic Rights. The Tokens do not confer any rights, express or implied, other than the right to use the Token as a means to participate in governance of the WLF Protocol through the WLF Governance Platform. In particular, you understand and accept that the Token does not represent or confer any ownership right or stake, share or security or equivalent rights, or any right to receive any distribution, revenue share, additional tokens, intellectual property rights or any other form of participation in or relating to the WLF Protocol, and/or the Company and its corporate affiliates, other than rights to use for governance relating to the WLF Protocol, subject to limitations and conditions in these Terms and applicable WLF Protocol Terms and Policies (as defined below).
Non-Transferable. All $WLFI will be non-transferable and locked indefinitely in a wallet or smart contract. You should think of your purchase of Tokens like other non-refundable purchases of goods and services and accept the risk that once you’ve paid the purchase price, your interest in the Token may decline and you have no expectation of resale of the Token. Any purported transfer in violations of transfer restrictions will be null and void by the Company, and the Company reserves the right to take action against any purported transfers. If transferability of $WLFI is sought to be unlocked in the future through protocol governance procedures, such unlock would only be permitted if determined not to contravene applicable law, which in any case would be more than 12 months after completion of the Token Sale. You should assume that the Tokens are non-transferable indefinitely. As the Tokens are non-transferable, the Company has not taken any action to, and has no plans to, create a secondary market for the Tokens.
The $WLFI Token and WLF Governance Platform are distinct from WLF Protocol. The Token does not provide any economic or other rights with respect to the WLF Protocol or otherwise. As a result, you will not have any rights to any fees generated by the WLF Protocol or earned by the Company. You should not purchase the Tokens with an expectation of Tokens increasing (or not decreasing) in value as a result of any future functionality or the success or failure of the WLF Protocol. You are not required to be a Token holder to use the WLF Protocol, but only Token holders can participate in the WLF Governance Platform. Use of the WLF Protocol is subject to terms of use of the WLF Protocol and include other disclosures relevant to users of the WLF Protocol.
The Tokens are not intended to be a digital currency, security, derivative, transferable crypto asset or any other kind of financial instrument, but you should be aware that the application of legacy financial and other regulation to new technology like the Tokens is uncertain and carries risk. The Tokens cannot be transferred or sold in exchange for money or other assets (including crypto assets) and cannot be used to acquire goods or services from any party.