BRETT Describes Itself As

BRETT is a token project positioned as the mascot of the Base Chain. It draws inspiration from Brett, a character from Matt Furie's Boys' Club comic series. Brett is characterized as a dancer and video game enthusiast, now symbolizing the Base Chain in a fan tribute. 

Project Utility/Function

BRETT functions primarily as a cultural icon within the Base Chain ecosystem. As a meme token, its primary utility lies in its community-driven engagement and its role as a mascot for the Base Chain. 

Token/Token Utility

BRETT's tokenomics are structured as follows:

• 85% of the total supply is allocated to Liquidity Pools (LP).
• 10% is reserved for the treasury.
• 5% is designated for a centralized exchange (CEX) wallet.

Additional key aspects of BRETT's tokenomics include:

• Contract Renounced: The contract ownership has been renounced, meaning the creators no longer have control over the contract.
• Liquidity Pool Locked: The liquidity pool is locked for 365 days.
• Max Supply: BRETT has a maximum supply of 10 billion tokens.

Risks of BRETT

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

• As a ‘memecoin’, BRETT is a community project, led by a pseudonymous team. There is no roadmap, and no funds have been raised for the project’s future development. 
• Any potential success associated with BRETT is reliant on the growth of its decentralized community, and their continued trading and enthusiasm for the asset. These factors are difficult to predict, and could result in very high volatility.

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