Before trading any crypto assets it is important to understand the risks. This overview summarizes certain risks associated with RAD.
No securities regulatory authority has expressed an opinion about RAD, including an opinion that RAD itself is not a security and/or derivative.
Token Description & Project Background
Radicle is an innovative decentralized platform designed for code collaboration. Positioned as a competitor to establish code collaboration hubs like GitHub and GitLab, Radicle enables developers to come together and collaborate on building decentralized applications.
The protocol relies on two key component: Radicle Link and Radicle Orgs. Radicle Link provides decentralized data repository storage through its peer-to-peer networking layer. Developers can share information and data by storing local copies on their personal hardware, allowing the community to contribute, identify and fund projects initiated by others.
Radicle Org offers an alternative to services like GitHub and GitLab. Instead of relying on administrators, Radicle Org utilizes smart contracts to define rules and permissions for codebases, giving platform developers greater control over the collaboration process.
At the heart of the project is the RAD governance token, which not only empowers token holders to participate in decision-making but also provides discounts on Radicle’s services. RAD token holders can vote on and submit governance proposals to shape the development of the Radicle smart contract system.
RAD tokens were initially launched privately, raising approximately US$12 million from prominent investors such as Coinbase Ventures and ParaFi. Subsequently, a public launch took place through a Balancer-liquidity bootstrapping pool (LBP) in February 2021 enabling wider participation.
The code collaboration project was initiated in 2018 by German software firm, with a key contributors including Alexis Sellier and Eleftherios Diakomichalis. Diakomichalis holds previous experience with popular music streaming platform SoundCloud as VP of Data Science and Engineering.
Risks of RAD
Like an investment in other crypto assets, there are some general risks to investing in RAD. 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 RAD is subject to the following specific risks:
- RAD 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. Furthermore, the project’s future trajectory hinges on the decisions made by a global community of RAD token holders.
We emphasize that this Crypto Asset Statement is not an exhaustive description or summary of all risks associated with RAD. 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 RAD community and Monadic s are not under any legal or regulatory obligation to disclose material information to the public regarding its activities. Holders of RAD have no recourse to RAD core team, Monadic or Uphold if RAD 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 RAD on the Uphold Platform, Uphold performed due diligence on RAD and determined that RAD 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 RAD, 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 RAD.
- Any marketing materials put forward by the RAD social team including on, Twitter, Medium blog, LinkedIn posts, Discord and Telegram channels.
- Material technical risks associated with RAD, including any code defects, security breaches and other threats concerning RAD 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 RAD, including any pending, potential, or prior civil, regulatory, criminal, or enforcement action relating to the issuance, distribution, or use of RAD.
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 21, 2023.
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