Some effects are exclusive to the paid "Studio" version. If you download a project file or a template created in the Studio version and open it in the Free version, you might see a "Watermark" or "Not Available" badge on that specific effect.
You can confidently state that DaVinci Resolve (free version) does not impose any watermark on exported video, making it a rare professional-grade NLE with zero forced branding in its free tier. does davinci resolve have a watermark
If you are using the free trial version of DaVinci Resolve Studio, you might see a "DaVinci Resolve Studio" label in the exported video, but this is not a watermark. Once you purchase the Studio version, this label will disappear. Some effects are exclusive to the paid "Studio" version