MINA Risk

MINA (MINA)
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DESCRIPTION

Mina, previously known as Coda Protocol, is a blockchain platform designed to address the scalability and accessibility challenges of decentralized networks. Launched in 2021, Mina leverages advanced cryptography techniques, including zk-SNARKs (zero-knowledge succinct non-interactive arguments of knowledge), to maintain a highly efficient and lightweight blockchain. The primary objective of Mina is to ensure that all participants can fully and easily verify the entire blockchain's history, regardless of its size.

Mina's unique approach has garnered attention from developers and blockchain enthusiasts alike, as it provides a promising solution to the long-standing challenge of scalability in blockchain networks. By enabling lightweight and easily verifiable blockchain transactions, Mina has the potential to support a wide range of use cases, including decentralized finance (DeFi), non-fungible tokens (NFTs), and privacy-preserving applications.

MINA (MINA) : https://docs.minaprotocol.com/
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RISKS OF MINA

Any investment in cryptocurrency and digital assets, such as MINA, can include the following general risks:(i) volatility risk and liquidity risk(ii) short history risk(iii) demand risk(iv) forking risk(v) code defect risk(vi) regulatory risk(vii) electronic trading risk(viii) cyber security risk

For additional information of risks associated with cryptocurrency and digital assets, you may refer to the Satstreet Inc Services Risk Statement. In terms of specific risks, as MINA is one of the longest-standing crypto assets and its community base is widely decentralized, there is no central working group or authority to disclose material information to the public regarding MINA. Please note that these risks and the associated summaries or overviews provided for each herein are not intended to be a complete overview of all such risks and, in addition, there may be other risks that come with exposure to MINA. We encourage all users to perform their own due diligence to assess the risks associated with MINA and to determine whether this level of risk is acceptable to them. Neither MINA nor Satstreet guarantees the value of MINA, and holders of MINA will not have any recourse to MINA or Satstreet if the value of MINA declines for any reason whatsoever.

SATSTREET EVALUATION OF MINA

Satstreet Inc. has reviewed and assessed MINA prior to making it available through our services and has concluded that MINA is not a security or derivative under Canadian securities legislation; however, there is a risk that this conclusion could change in the future and that, in such event, Satstreet will be required to halt, suspend, and then remove MINA from its platform as described in the Satstreet Inc. Services Risk Statement.

Further, as indicated above, no Canadian securities regulatory authority has expressed an opinion about MINA, including an opinion that MINA is not itself a security and/or derivative. Based on publicly available information Satstreet has reviewed MINA, including, but not limited to, a review of the following: The creation, governance, usage, and design of MINA, including the source code, security, and roadmap for growth in the developer community and, if applicable, the background of the developer(s) that created MINA. The supply, demand, maturity, utility, and liquidity of MINA. Material technical risks associated with MINA, including any code defects, security breaches and other threats concerning MINA 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 MINA, including (i) any pending, potential, or prior civil, regulatory, criminal, or enforcement action relating to the issuance, distribution, or use of MINA, and (ii) statements made by any securities regulatory authorities in Canada, other regulators in IOSCO-member jurisdictions, or the regulator with the most significant connection to MINA about whether MINA, or generally about whether the type of crypto asset, is a security and/or derivative.

Last Updated: June 2023

Risk Statements

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