Before trading any crypto assets it is important to understand the risks. This overview summarizes certain risks associated with NEO.
No securities regulatory authority has expressed an opinion about NEO, including an opinion that NEO itself is not a security and/or derivative.
Token Description & Project Background
Neo is a layer-1 blockchain which has been designed to be developer-friendly. Applications on the NEO platform can be developed using standard programming languages - which means an extensive community of people can create with ease things like innovative smart contracts, distributed apps (dApps), and other new technologies.
The blockchain uses a unique governance system called Delegated Byzantine Fault Tolerant (dBFT) as its consensus mechanism for the computers that run its software.
AntShares was founded in 2014 by Da HongFei and Erik Zhang, and rebranded to Neo in 2017.
NEO is the network’s native token, and is used for all on-chain transactions. Staking NEO gives users governance rights.
Risks of NEO
Like an investment in other crypto assets, there are some general risks to investing in NEO. 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 NEO is subject to the following specific risks:
- The Layer-1 space is intensely competitive, with many blockchains vying to be new and improved versions of the Ethereum blockchain. Any potential success associated with NEO is dependent on the extent to which the Neo blockchain is adopted by projects and developers.
We emphasize that this Crypto Asset Statement is not an exhaustive description or summary of all risks associated with NEO. 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 NEO community and developers are not under any legal or regulatory obligation to disclose material information to the public regarding its activities. Holders of NEO have no recourse to the NEO community, developers, or Uphold if NEO 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 NEO on the Uphold Platform, Uphold performed due diligence on NEO and determined that NEO 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 NEO, 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 NEO.
- Marketing materials put forward by the NEO social team including, Twitter, Medium blog, LinkedIn posts, Discord and Telegram channels.
- Material technical risks associated with NEO including any code defects, security breaches and other threats concerning NEO 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 NEO, including any pending, potential, or prior civil, regulatory, criminal, or enforcement action relating to the issuance, distribution, or use of NEO.
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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