Before trading any crypto assets it is important to understand the risks. This overview summarizes certain risks associated with COTI.
The U.S. The Securities and Exchange Commission (SEC) has expressed an opinion about COTI, including an opinion that COTI itself is a security.See the SEC’s June 2023 complaint againstfor more information.
Token Description & Project Background
Coti is a Layer-1 Proof-of-Work blockchain which serves as a decentralized payment network. It allows merchants and consumers to exchange goods for cryptocurrency, stablecoins and traditional fiat currency.
The protocol is supported by a Directed Acyclic Graph (DAG) data structuring technology known as the Trustchain. Coti aims to build a “finance on the blockchain” ecosystem to meet the challenges of traditional finance, such as high fees, latency and lack of global inclusion.
COTI is the platform’s native token and is used as a medium of exchange within the network.
The COTI token launched in May 2019 on KuCoin.
The project was founded by Shahaf Bar-Geffen.
Risks of COTI
Like an investment in other crypto assets, there are some general risks to investing in COTI. 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 thestatement.
In addition to these general risks, an investment in COTI is subject to the following specific risks:
- The Layer-1 space faces intense competition. Many blockchains claim unparalleled transaction speeds, low fees, high security, and many bill themselves as ‘enterprise-grade’ solution providers vying for the same clients. Any potential success associated with COTI is dependent on its rate of adoption by projects, fintech businesses, developers, as well as the growth in demand payment services infrastructure.
We emphasize that this Crypto Asset Statement is not an exhaustive description or summary of all risks associated with COTI. 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 COTI community and Coti team are not under any legal or regulatory obligation to disclose material information to the public regarding its activities. Holders of COTI have no recourse to the COTI community, Coti team, or Uphold if COTI 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 COTI on the Uphold Platform, Uphold performed due diligence on COTI and determined that COTI 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 COTI, 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 COTI.
- Marketing materials put forward by the COTI social team including, Twitter, Medium blog, LinkedIn posts, Discord and Telegram channels.
- Material technical risks associated with COTI, including any code defects, security breaches and other threats concerning COTI 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 COTI, including any pending, potential, or prior civil, regulatory, criminal, or enforcement action relating to the issuance, distribution, or use of COTI.
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 thestatement 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. Please also review the 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 Asset Statement or other disclosures on the Uphold website and statement.
Last updated on June 5, 2023.
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