Disclaimer

Salamandre · Carat certificates are identification and provenance reports. They describe what a stone appears to be, based on the best available visual and contextual analysis performed by our multi-AI council and, where applicable, by independent expert review.

Not investment advice

Nothing on this site or in any Carat certificate constitutes investment advice, a solicitation, a recommendation, an offer or a guarantee of any kind. We do not make claims about market value, authenticity for trading purposes, future appreciation, liquidity or fitness for any investment objective.

Not a security, not a financial instrument

The Carat certificate, and the associated on-chain token (Phase 2), are not securities within the meaning of Art. 2 lit. b of the Swiss Financial Services Act (FinSA), not financial instruments within the meaning of MiFID II, not a unit of a collective investment scheme under CISA, and not asset tokens under FINMA's ICO Guidelines of 16 February 2018.

The Carat token is technically non-transferable (soulbound ERC-721 — the contract's _update() hook reverts all transfer attempts). It cannot be traded on a secondary market by construction.

No claim against the operator

Holding a Carat certificate or the associated on-chain token confers no financial claim — no entitlement to dividends, interest, principal, redemption, or any payment from the operator. It represents only the identification record for a specific physical stone, at a specific point in time.

Scope of the identification

Identification is performed primarily on the basis of high-resolution photographs of the stone, and on contextual information provided by the submitter. The report reflects the best assessment achievable under those conditions; it does not constitute a destructive gemological test, nor an in-person inspection by a graduate gemologist, unless explicitly stated in the report itself.

Operator

Einzelfirma Salamandre David Nataf, Zug, Switzerland. Beneficial owner: David Nataf. See the full regulatory framework for our positioning under the Swiss DLT Act, AMLA and FADP.