LimeWire (LMWR) Describes Itself As

LimeWire, originally a popular file-sharing platform in the early 2000s, has undergone a complete transformation to reemerge as an AI-powered content creation and collaboration platform. This evolution leverages blockchain technology to facilitate the creation, collaboration and sharing of any type of content across every device. The platform integrates several tools for generating and manipulating content with its ever evolving suite of AI models.

A Note on LMWR Rewards

Please be advised that all rewards referenced are generated and distributed through the LimeWire and/or Blocknode platforms. These rewards are not related to, generated, or distributed through Uphold Rewards.

Project Function

The new LimeWire is a comprehensive platform designed for creators and businesses alike. It offers an AI-powered suite of tools that look to simplify the creation and sharing of digital content across all devices. The LimeWire AI Platform merges LimeWire’s experience in file-sharing with AI capabilities, creating a space where users can upload, generate, and transfer files of any size.

In addition to content creation, LimeWire integrates decentralized computing services through its Blocknode product. Blocknode provides decentralized GPU compute instances, using LMWR for payments and rewards. AI companies and projects pay in LMWR for GPU services, while GPU providers receive LMWR for providing spot and on-demand GPU instances. This integration extends the utility of the platform beyond digital content creation, and contributes to its decentralized infrastructure.

Strategic partnerships with industry leaders such as Universal Music Group, Algorand, Polygon, and Google Cloud aim to bolster LimeWire’s capabilities.

Token Utility

The LimeWire token (LMWR) is an ERC-20 utility token that serves as the core element of the LimeWire ecosystem, supporting a wide range of functionalities, including:

• Payments and Transactions: LMWR is used to purchase AI-generated content, access premium features, and engage in NFT trading on the LimeWire platform marketplace.
• Ad-Revenue Sharing: LimeWire’s ad-revenue share program distributes rewards in LMWR to creators and consumers who are staking their tokens.
• Staking and Rewards: Users can stake LMWR in various Web3 staking pools to earn additional rewards. The platform also rewards active participants who hold a minimum balance of LMWR.
• Decentralized GPU Payments: Through Blocknode, LMWR is used for payments and rewards,

LMWR has a fixed supply of 1 billion tokens.

About the Founders

LimeWire’s revival is led by Paul Zehetmayr and Julian Zehetmayr, who have transformed the brand from a legacy file-sharing service into a modern AI and blockchain-based platform. The Zehetmayr brothers bring extensive experience in technology and entrepreneurship, driving the strategic vision behind LimeWire’s rebranding and expansion into the cryptocurrency space. Under their leadership, LimeWire has secured key partnerships with industry giants such as Universal Music Group and Google Cloud, positioning the platform for sustained growth and innovation.

LimeWire has successfully raised over $17.5 million through strategic and public sales of LMWR, attracting notable investors like Kraken Ventures, Crypto.com | Securely Buy, Sell & Trade Bitcoin, Ethereum and 350+ Altcoins Capital, GSR, and Arrington Capital. 

Risks of LMWR

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

• LimeWire operates using smart contracts, which have an association with vulnerabilities and security breaches. Despite undergoing successful audits by well-regarded third-party entities, it is essential to acknowledge the existence of inherent risks. 

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

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 December 16, 2024.