Coinsquare Capital Markets Inc. (“Bitbuy”) is offering crypto contracts to purchase and sell Worldcoin in reliance on a prospectus exemption granted by the Canadian Securities Administrators (CSA) in the exemptive relief decision dated October 12, 2022. 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 through Coinsquare’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.

WLD is a token developed by Tools for Humanity, a company co-founded by Sam Altman, Alex Blania, and Max Novendstern. It is not a product of OpenAI, although the two companies share a co-founder. WLD is the utility and governance token for the World Network (formerly Worldcoin). It serves as the native gas token for the World Chain Layer 2 network and grants users voting rights on the protocol's future direction. The project is currently governed by the Worldcoin Foundation. 1 When it was originally launched, the Worldcoin ecosystem was intended to provide the basis for a universal-basic-income (UBI) system, however recently the project pivoted to focus on solving the issue of identifying real humans on the internet where bots are becoming ever-prevalent and the reach of artificial intelligence is growing. The Worldcoin network uses a physical device called an Orb to scan human retinas. The World Network technology produces a unique numerical code (IrisCode) for each retina, which cannot be used to recreate the image of that specific retina.The network then uses zero-knowledge proofs (ZKP) to verify that a unique hash exists for a given user, without exposing the hash, allowing users to verify that they are human without risk of exposing any of their private data.The Worldcoin token does not represent an equity, debt or any other type of claim on OpenAI.

As with all assets, investing in WLD is not without some general risks. Many of these risks are identified and explained in our Risk Statement.

In addition to the general risks, we outline some risks that are specific to WLD 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 WLD.

As WLD is an ERC-20 token on the Ethereum network, it is highly dependent on the continued stability of that network. Any fundamental issues in the Ethereum network may impact WLD’s smart contract or token value. Investors should consider this dependency when evaluating Worldcoin.

Worldcoin has a proposed supply cap of 10 billion tokens for the next 15 years, but has made it clear that the governance protocol can vote to raise this cap and implement token inflation mechanisms.

The Worldcoin ecosystem has a zero-knowledge ID proof system called WorldID which requires in-person enrollment that cannot be provided by Coinsquare and may not be available in Canada. Owning Worldcoin without a WorldID may limit a user’s ability to participate in tokenomics like airdrops. At this point in time, there are no known restrictions on governance or transacting in Worldcoin related to WorldID verification, but that does not mean that such restriction or requirement will not be introduced in the future.

Worldcoin’s system of human verification requires a retinal scan performed via physical device called an Orb. After scanning, humans can choose to allow worldcoin to store their retinal image data and use it to help their technology better learn to identify other retinal images. Authorities in France, Germany, Argentina, the United Kingdom, Spain, Kenya, Hong Kong, Portugal, South Korea, and Indonesia have taken regulatory action against World Network. These actions range from opening investigations to issuing fines, ordering the cessation of biometric data collection, and mandating data deletion.