Before trading any crypto assets it is important to understand the risks. This overview summarizes certain risks associated with THETA.
No securities regulatory authority has expressed an opinion about THETA, including an opinion that THETA itself is not a security and/or derivative.
Token Description & Project Background
Theta Network is a blockchain protocol built to empower the creation and streaming of online video content.
Theta Token (THETA) is the protocol’s native digital currency. The token launched in 2017.
The Theta Network rewards users for sharing unused computing bandwidth on a peer basis. The blockchain was designed to allow peer-to-peer video transmission for greater efficiency than access from the initial distributor while at the same time maintaining intellectual property control for the content creator. Bandwidth providers receive a utility token, TFuel.
Theta Labs, creator of the Theta network, has received multiple patents for processes in the US that cover the network’s “Peer Discovery” algorithm technology to create faster viewing across the full open-sourced blockchain. Theta Labs has secured Google, Sony, and Samsung as Theta Enterprise validators, while media companies including MGM and Lionsgate are on board as content partners.
Theta Labs was founded in 2017 as a subsidiary of virtual reality technology firm Sliver.tv.
Risks of THETA
Like an investment in other crypto assets, there are some general risks to investing in THETA. 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 THETA is subject to the following specific risks:
- Any potential success associated with THETA depends on Theta Network’s rate of adoption by users and video content creators.
- Any potential success associated with THETA depends on a number of external factors, including the rise of shared video streaming platforms and growth in NFT adoption.
We emphasize that this Crypto Asset Statement is not an exhaustive description or summary of all risks associated with THETA . 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 THETA community and Theta Labs are not under any legal or regulatory obligation to disclose material information to the public regarding its activities. Holders of THETA have no recourse to the THETA community, Theta LAbs, or Uphold if THETA 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 THETA on the Uphold Platform, Uphold performed due diligence on THETA and determined that THETA 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 THETA, 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 THETA.
- Any marketing materials put forward by the THETA social team including on, Twitter, Medium blog, LinkedIn posts, Discord and Telegram channels.
- Material technical risks associated with THETA, including any code defects, security breaches and other threats concerning THETA 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 THETA, including any pending, potential, or prior civil, regulatory, criminal, or enforcement action relating to the issuance, distribution, or use of THETA.
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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