Notcoin Describes Itself As

Notcoin (NOT) is a GameFi project integrated into the TON ecosystem, primarily operating as a play-to-earn token within a Telegram-based game. Players engage in a tap-to-earn mechanic, accumulating tokens by tapping a virtual coin and completing in-game tasks. The project was created by Open Builders, a team focused on viral social games, quickly reaching millions of users due to its simple and addictive gameplay.

Project Overview 

Notcoin leverages the TON blockchain to provide a scalable and secure gaming experience. Key functionalities include:

• Play-to-Earn Model: Users earn Notcoins by tapping a virtual coin.
• Boosts and Power-ups: Players can enhance their earnings with various in-game boosts.
• Leaderboards and Quests: Incentives include global leaderboards and quests offering additional rewards.
• Community Features: Players can form squads, invite friends, and participate in community-driven activities.
• Integration with TON: Ensures fast, secure transactions and seamless integration with other TON-based applications.

Token Details

• Total Supply: 102.7 billion NOT tokens.
• Distribution: 78% allocated to early miners and voucher holders; 22% reserved for new users, traders, and development phases.
• Conversion Ratio: 1,000 in-game Notcoins convert to 1 NOT token.
• Staking and Rewards: Future plans include staking opportunities and incentives for user interactions with external projects.

About the Founders

Notcoin was developed by Open Builders, a team known for creating engaging and viral social games. Their strategic use of Telegram's vast user base and simple gameplay mechanics has significantly contributed to Notcoin's adoption and success.

Risks of NOT

Like an investment in other crypto assets, there are some general risks to investing in NOT. These include:  (i) volatility risk and liquidity risk, (ii) short history risk, (iii) demand risk, (iv) forking risk, (v) code defects, (vi) regulatory risk, (vii) electronic trading risk, and (viii) cyber security risk. For additional information of these and other general risks associated with crypto assets and Uphold’s platform, please refer to the Risks Specific to Holding Digital Assets statement.

In addition to these general risks, an investment in NOT is subject to the following specific risks:

• Any potential success associated with NOT depends on Notcoin’s rate of adoption. 
• Any potential success associated with NOT depends on a range of external factors, including blockchain-based gaming and growth within the TON ecosystem. 

We emphasize that this Crypto Asset Statement is not an exhaustive description or summary of all risks associated with NOT. Investors should conduct their own research and perform their own assessment before trading any crypto asset to determine the appropriate level of risk for their personal circumstances.

The NOT community and its founding team are not under any legal or regulatory obligation to disclose material information to the public regarding its activities. Holders of NOT have no recourse to the NOT community, Bitcoin’s founding team, or Uphold if NOT declines in value for any reason.

Changes to applicable law may adversely affect the use, transfer, exchange, or value of any of your crypto assets, and such changes may be sudden and without notice.

Uphold’s Evaluation Process

Prior to listing NOT on the Uphold Platform, Uphold performed due diligence on NOT and determined that NOT is unlikely to be a security or derivative under relevant securities legislation. Uphold’s analysis including reviewing publicly available information on the following: 

• The creation, governance, usage, and design of NOT, including ensuring the source code is open-source, audited and peer reviewed, security, and roadmap for growth in the developer community. 
• The supply, demand, maturity, utility, and liquidity of NOT.
• Any marketing materials put forward by the NOT social team including on, Twitter, Medium blog, LinkedIn posts, Discord and Telegram channels.
• Material technical risks associated with NOT, including any code defects, security breaches and other threats concerning NOT and its supporting blockchain (such as the susceptibility to hacking and impact of forking), or the practices and protocols that apply to them.
• Legal and regulatory risks associated with NOT, including any pending, potential, or prior civil, regulatory, criminal, or enforcement action relating to the issuance, distribution, or use of NOT.