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ReferenceChapter 21 / 21·····

⚠️ Risk Disclosure & Disclaimer

This disclosure applies to the whole of this document — every chapter, every figure, every plan.

The statements below govern how the entire whitepaper should be read. They are not an appendix to skip; they are part of the document itself.

The nature of this document​

This document (hereafter "whitepaper") is an informational material describing the technical design and vision of Matsuri Coin (MTC) and Matsuri Protocol, operated by Jon & Coo Inc. (Japan).

This document is none of the following:

  • A document relating to the solicitation or sale of securities
  • An investment solicitation or investment advice
  • A guarantee of profit or return
  • A legally binding contract

The nature of MTC — a utility token​

MTC is designed as a utility token: a means of payment, reward, and access within the Matsuri ecosystem (event payments, mining rewards, membership benefits). It is not designed or offered as an investment product, and it confers no equity, no dividend, and no claim on company revenue. The buyback commitments described in Tokenomics are operational policies of the ecosystem, not profit promises to holders.

Risks relating to MTC​

Acquiring, holding, and using MTC carries risks, including but not limited to the following.

Price volatility risk​

The price of MTC fluctuates with market supply and demand and may fall significantly below the acquisition price. In the worst case, the value may become zero. The economic mechanisms described in this whitepaper (flywheel, buyback, and so on) describe design structures — they do not guarantee any price appreciation.

Liquidity risk​

MTC is currently tradable on Raydium (DEX). If liquidity is insufficient, you may be unable to sell at the desired price or timing.

Technical risk​

  • Smart contracts may contain bugs or vulnerabilities.
  • The protocol's smart contracts (matsuri-buyback, matsuri-vesting, matsuri-distribution) are code-complete but have not yet been deployed to any cluster.
  • The contracts are undergoing a staged third-party security audit with Hashlock: Phase 1 (matsuri-buyback) has its submission package complete with kickoff targeted August 2026 and mainnet deployment targeted October–December 2026 after DEX listing; Phase 1.5 (matsuri-vesting and matsuri-distribution) is targeted for Q1 2027 ahead of the 2027-06-01 unlock. No contract is activated on mainnet until it passes its audit phase. Audit completion does not eliminate all risk. Current status is maintained in the Roadmap.
  • Failures or outages of the Solana network itself may make transactions temporarily impossible.
  • Data inconsistencies may arise during the off-chain → on-chain migration.

Regulatory risk​

Crypto regulation is changing rapidly in every country. Future regulatory changes may restrict or prohibit the trading, use, or holding of MTC. Separately, the in-app prepaid coin MLC (Matsuri Live Coin) is operated as a prepaid payment instrument under Japan's 資金決済法 (Payment Services Act) and is never automatically converted to or from MTC — the two are kept behind a regulatory firewall.

Project risk​

  • Features, dates, and schedules described in this whitepaper may change.
  • The project may not proceed as planned, or may be discontinued.
  • Changes in the development team's structure may affect the roadmap.

Private key / wallet risk​

If you lose your wallet's private key or seed phrase, there is no way to recover your MTC. We do not store users' private keys and cannot assist with recovery.

What we do not do​

Crypto exchange / conversion
We are not registered as a crypto asset exchange business and do not provide direct conversion between MTC and fiat currency
Investment advice
Nothing in this document is investment advice; decisions to acquire MTC are your own responsibility
Principal guarantee
We do not guarantee the preservation or appreciation of MTC's value
Private key custody
We do not custody or manage users' wallet private keys

Note on forward-looking statements​

This document contains forward-looking statements. Expressions such as "aim," "plan," "target," "concept," and "design" indicate future plans and goals, and are not settled facts. This includes the audit schedule, deployment windows, listing plans, and ecosystem-scale targets in the Roadmap. Actual results may differ materially from what is described here due to market conditions, technical difficulties, the regulatory environment, and other factors.

Target regions​

This document is not directed at residents of regions where acquiring or using MTC is prohibited by law. Please verify the laws and regulations in your country and region of residence, and make your own judgment at your own responsibility.

Accuracy of information​

The contents of this document are based on information as of the date of writing (July 27, 2026). For the latest information, please check the official website and official community channels. Contents are subject to change without notice.

Last updated: July 27, 2026