Token Description & Project Background

Coreum is a layer one, proof-of-stake (PoS) blockchain developed by the Coreum Development Foundation. 

The Coreum mainnet went live on March 24, 2023.

The blockchain is designed to cater to enterprises, namely through the integration of the following three features:

• Smart tokens
• ISO20222 Compliance
• Inter-Blockchain Communication Compatibility (IBC)

Coreum was built by the same founding team as Sologenic (SOLO), an on-demand tokenization service and decentralized exchange built on the XRP-Ledger. Bob Rash and Reza Bashash are respectively CEO and CTO of both Sologenic and Coreum. 

Coreum is branded as an ‘enterprise-grade layer one blockchain’. Marketing materials place emphasis on four key attributes: their blockchain is ‘modular, fast, secure’, and ‘interoperable’. The team claims the Coreum blockchain can process up to 7,000 transactions per second, making it the ‘fastest blockchain in the world’.

COREUM is the Coreum blockchain’s native token. The token facilitates all transactions and operations within the network.

Risks of COREUM

Like an investment in other crypto assets, there are some general risks to investing in COREUM. 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 COREUM is subject to the following specific risks:

• The Layer-1 space faces significant competition. Any potential success of COREUM will rely on the blockchain’s widespread adoption by a range of businesses and developers. 

We emphasize that this Crypto Asset Statement is not an exhaustive description or summary of all risks associated with COREUM . 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 COREUM community is not under any legal or regulatory obligation to disclose material information to the public regarding its activities. Holders of CORE have no recourse to COREUM core develpments, community, or Uphold if COREUM 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 — on the Uphold Platform, Uphold performed due diligence on — and determined that —- 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 Coreum, including ensuring the source code being open-source, audited and peer reviewed, security, and roadmap for growth in the developer community. 
• The supply, demand, maturity, utility, and liquidity of CORE.
• Marketing materials put forward by the COREUM social team including, Twitter, Medium blog, LinkedIn posts, Discord and Telegram channels.
• Material technical risks associated with COREUM, including any code defects, security breaches and other threats concerning COREUM 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 COREUM, including any pending, potential, or prior civil, regulatory, criminal, or enforcement action relating to the issuance, distribution, or use of COREUM.

General

Uphold has prepared this Crypto Asset Statement based on publicly available information. Although Uphold has taken steps to obtain information from apparently reliable sources, information contained in this Crypto Asset Statement may be inaccurate, incomplete or out-of-date. This overview is a starting point for you to perform your own research prior to investing in a crypto asset.

Uphold users should read the Risks Specific To Holding Digital Assets statement for additional discussion of general risks associated with crypto assets made available through the Uphold platform.  

Canadian residents, please note that Uphold has filed an application for registration in certain Canadian jurisdictions but has not yet obtained registration. Until such time as Uphold obtains registration, Uphold has agreed to abide by the terms of an undertaking available at the following link. Please also review the Uphold Canada – Crypto Risk Statement for additional discussion of general risks associated with the crypto assets made available through Uphold Platform. Please be aware that statutory rights of action for damages or rescission in section 130.1 of the Securities Act (Ontario) and, if applicable, similar statutory rights under securities legislation in the other provinces and territories of Canada do not apply in respect of this Crypto Asse

Last updated on June 2, 2023.