ZBCN Describes Itself As

The Zebec Network is a decentralized infrastructure network designed to facilitate payments. Initially built on the Solana blockchain, Zebec has evolved into a multi-chain platform that brings blockchain to everyday financial operations. Zebec aims to disrupt traditional finance by addressing inefficiencies such as high transaction fees, delays, and reliance on intermediaries, particularly in the context of global payments and payroll systems. Backed by $35 million in investments from prominent firms like Circle, Coinbase, and Solana Ventures, Zebec aims to position itself as a leading player in decentralized finance (DeFi), real-world asset payments, and physical infrastructure (DePIN)​.

Project Function

Zebec aims to provide real-time, blockchain-powered financial services, including real-world asset (RWA) payments, payroll systems, and decentralized physical infrastructure. Zebec's continuous settlement protocol enables real-time, perpetual money streams, seeking to transform payroll and financial transactions by eliminating delays and enhancing transparency. The Zebec 2.0 streaming payroll app, powered by the Nautilus Chain, facilitates per-second wage disbursements. Zebec's ecosystem also includes the WageLink application, which offers features like cross-border remittances, USDC payroll, and advanced payroll tools such as early pay access and budgeting​.

Zebec's network services have expanded to support a broad range of financial applications, from daily consumer transactions to complex enterprise-level payments. The network's products cater to both web2 and web3 companies, integrating cryptocurrency and fiat payments. In 2023, Zebec launched the Zebec Instant Card, a multi-chain, no-fee card available in 138 countries, allowing users to convert and spend cryptocurrency directly in fiat currencies without transaction fees​.

Token Utility

The ZBCN token is the governance and utility token of the Zebec Network, and is an upgrade from the original ZBC token. ZBCN is used for transaction fees, governance participation, staking, and can also serve as native collateral for applications within the Zebec ecosystem. The tokenomics structure includes a deflationary aspect, where a portion of ZBCN used for gas fees is burned, thus reducing supply over time. ZBCN holders also enjoy exclusive benefits such as premium features for Zebec products, airdrops from partner projects, and enhanced spending limits on the Zebec Instant Card​​.

About the Founders

Zebec Protocol was founded by Sam Thapaliya, who also serves as Chief Architect and Co-Founder at ASMI. Sam is a serial entrepreneur and angel investor, with a focus on Web3, programming, and architecture, and describes himself as an eternal optimist.  

Risks of ZBCN

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

• The Layer-1 space is intensely competitive. Several new blockchains continue to emerge which boast high-profile teams, claim unparalleled transaction speed, energy-efficiency, as well as developer-friendly programming languages. Any potential success associated with ZBCN is reliant on the extent to which the Zebec Network is adopted by enterprises and developers.

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

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 September 4, 2024.