Token Description & Project Background

Mines of Dalarnia is a Play-to-Earn action-adventure game developed by Workinman Interactive, with AP’s consisting of Keith McCullough (Game Director & COO).

Set in year 11,752, the futuristic game allows users to ‘mine’ and explore the virtual world, upgrade their gear, unlock secret areas and quests, and find rare in-game items.

The game itself went live in June 2022 - the project’s native token, DAR, was first sold in October 2021.

According to their litepaper, the Mines of Dalarnia team set out ‘to create gameplay that players have fun and stick with, creating a community that will ultimately make Mines of Dalarnia a world that players can enjoy for years to come. While the buzz is currently about the “Earn” in “Play to Earn,” we believe the “Play” is critically important as well. A game that many players love to play will grow a vibrant in-game economy, which will make it easier to earn.

DAR fuels the game economy – it is used to trade equipment and skins on the marketplace and renting land.

Risks of DAR

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

• Any potential success associated with DAR is dependent on its rate of adoption by users. Investors should be aware a number of competing blockchain gaming projects have entered the field since the game’s launch in 2022.
• Any potential success associated with DAR is dependent on a number of external factors such as the growth and increased adoption of the metaverse and the continued popularity of NFTs as digital collectibles.

We emphasize that this Crypto Asset Statement is not an exhaustive description or summary of all risks associated with DAR. 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 DAR community and core team are not under any legal or regulatory obligation to disclose material information to the public regarding its activities. Holders of DAR have no recourse to the DAR community, core team, or Uphold if DAR 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 DAR on the Uphold Platform, Uphold performed due diligence on DAR and determined that DAR 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 DAR, 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 DAR.
• Marketing materials put forward by the DAR social team including, Twitter, Medium blog, LinkedIn posts, Discord and Telegram channels.
• Material technical risks associated with DAR, including any code defects, security breaches and other threats concerning DAR 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 DAR, including any pending, potential, or prior civil, regulatory, criminal, or enforcement action relating to the issuance, distribution, or use of DAR. 

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 Asset Statement or other disclosures on the Uphold website and Risks Specific To Holding Digital Assets statement. 

Last updated on June 12, 2023.