# Risks

**1- Experimental Project**

ICE Colony uses custom codes developed by our team. Since these smart contracts have never been tried anywhere else before, please keep in mind that the project is very experimental. To reduce such risks, we are comprehensively testing all our contracts and collaborating with top auditors eliminate bugs. However, it is never possible to guarantee the security of a smart contract and users should be aware that even the oldest platforms can be exploited by hackers. This risk is also present for ICE Colony.\
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**2- Financial Model**&#x20;

Just like the code, the financial model applied in ICE Colony is completely experimental. It has never been tried before and there is absolutely no way to tell how it will perform. Thus, it is a very high risk / high reward model. Investors should be aware that NFT and token prices could have incredible volatility during the lifetime of the project. You should always do your research before investing in any financial assets, and never invest all your money into a single asset.\
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**3- Third Party Risks**

The price of our NFTs and tokens may also be affected by the technologies used by our team. Our project is built on Polygon and we have no control over the network congestions. Our NFTs will be sold on Opensea and we cannot have any control if Opensea experiences issues with its user interface or smart contracts. Although it is very unlikely that Polygon or Opensea will have critical issues, it must be noted that our services might be affected by their performance.\
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**4- DDOS attacks**

DDOS attacks have no influence on our code or the safety of our tokens and NFTs. However, such attacks can lead to down time with user interface making it harder for regular users to access our website. If such attacks are used with organized "FUD" on social channels, it might scare some investors leading them to sell their assets.\
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**5- Scammers on social channels**

This is a risk present not only in crypto but everywhere else. There will always be scammers sending fishing e-mails or direct messages to you. These people will try every trick to steal your private keys or drain your wallets. Never trust anyone asking for your private keys. Never click links sent by strangers. Our team will never DM you asking for funds or your private key. Our team will never DM you and ask you to connect your wallet or sing transactions. \
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There are some occasions telegram or discord bots are compromised. This is why our team will never send flash sale news through the use of bots. All important announcements will be done manually in announcement channels by our admins. Always double check with our team and/or documents before you connect your wallet to make a transaction.
