13. Risks

The token can go to zero. $ELSE is a utility token for a game. Its price depends on people wanting to spend it in the city. It may never be worth more than you paid, and it may be worth nothing.

Regulation. Calling something a utility token does not settle how a regulator will treat it. Rules differ by country and are changing. $ELSE may be restricted or unavailable where you live. The project will take legal advice before launch and may change the design because of it.

Launch mechanics. Bonding-curve launches are volatile in their first hours. Bots and coordinated wallets will be among the first buyers. Launch venues change their rules and fees.

Software. Smart contracts and game servers have bugs. An audit lowers the chance of a serious one; it does not remove it.

The team. This is a small team. People leave, funding runs out, plans slip. Because there is no team allocation, there is also no large treasury to fall back on.

Fake citizens. Wallets are free to create, so the population count can be inflated. Pass age, minimum balances, and optional social links reduce this. They do not eliminate it.

Central control. The game server is run by the team. Houses, Shells, and addresses are records on that server. If the team stops, the on-chain parts remain, but the city as a place you can visit would need someone else to run it. Open-sourcing the city core is a partial answer.

The name. An unrelated project used the name Elsewhere in 2022. Trademark and domain checks are still to be done. The name may change.