PEPE is an ERC-20 token built on the Ethereum blockchain, and touts itself as a ‘memecoin’. 

The token is designed for entertainment purposes only.

The Pepe whitepaper states that PEPE has no intrinsic value or expectation of financial return. 

The whitepaper emphasizes that the frog cartoon used to represent the token and its community bears no association with Matt Furie or his creation Pepe the Frog. 

The project has no formal team or roadmap.

The first PEPE transaction took place on April 18th, 2023. 

The total PEPE token supply is 420,690,000,000,000.

Risks of PEPE

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

As a ‘memecoin’, PEPE is a community project. There is no roadmap, and no funds have been raised for the project’s future development. 

Any potential success associated with PEPE 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 PEPE. 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 PEPE community is not under any legal or regulatory obligation to disclose material information to the public regarding its activities. Holders of PEPE have no recourse to the PEPE community or Uphold if PEPE 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 PEPE on the Uphold Platform, Uphold performed due diligence on PEPE and determined that PEPE 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 PEPE, 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 PEPE.

Any marketing materials put forward by the PEPE social team including on, Twitter, Medium blog, LinkedIn posts, Discord and Telegram channels.

Material technical risks associated with PEPE, including any code defects, security breaches and other threats concerning PEPE 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 PEPE, including any pending, potential, or prior civil, regulatory, criminal, or enforcement action relating to the issuance, distribution, or use of PEPE.