Coinsquare Capital Markets Ltd. (“Bitbuy”) is offering crypto contracts to purchase and The Graph (GRT) in reliance on a prospectus exemption granted by the Canadian Securities Administrators (CSA) in the amended and restated exemptive relief decision dated October 11, 2024. The statutory rights of action for damages and the right of rescission in section 130.1 of the Securities Act (Ontario) and similar legislation in the other CSA jurisdictions do not apply in respect of a misrepresentation in this statement to the extent that a crypto contract is distributed under the above-noted prospectus relief.

No securities regulatory authority in Canada or any other jurisdiction has expressed an opinion about any of the crypto assets (or crypto contracts) that are available throughCoinsquare’s platform, including an opinion that the crypto assets are not themselves securities and/or derivatives.

Coinsquare has compiled the information contained in this Crypto Asset Statement to the best of its ability based on publicly available information.

Toncoin is the native token of the The Open Network (TON) layer-1 blockchain. The Open Network is supported by numerous contributors, the biggest of which is the TON Foundation. Originally, TON Blockchain was planned to be a project of the popular messaging app, Telegram, but after receiving a court order from the US Securities Exchange Commission (SEC) in 2020, Telegram departed the project. TON Blockchain uses a proof-of-stake consensus mechanism and techniques like sharding and segmentation to allow it to process transactions with increased speed and throughput. Toncoin is offered on various networks, however Coinsquare only supports native TON on the TON Blockchain.

As with all assets, investing in TON is not without some general risks. All of the risks of trading and staking crypto that are identified and explained in our Risk Statement apply to TON. In addition to the general risks, we outline some risks that are specific to Toncoin below. While we make an effort to identify every source of risk, we encourage you to do your own research and ensure you are comfortable investing in Toncoin.

The TON Blockchain is in direct competition with other layer-1 networks that have similar features such as Ethereum, Cosmos, Avalanche, Polkadot, and many others. The success of TON Blockchain and Toncoin relies on continuous user adoption and user retention to ensure that TON stays among the upper echelon of layer-1 competitors. Potential investors should be aware of TON Blockchain’s competition and stay apprised of its positioning in that market.

As of the date on which this Crypto Asset Statement was written, the top “whales”, determined by the amount of TON held by any single address is available on Tonscan. The publicly-available data shows that 20 addresses hold approximately 70% of the total supply of TON (which was 5.19B TON at the time). Potential investors should be aware of the concentration of TON among such a small number of addresses and make their own determination on whether they perceive any risk due to that concentration.