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The information contained in this Crypto Asset Statement was last updated on October 14, 2024

No securities regulatory authority in Canada has expressed an opinion about JUP or any of the other Crypto Contracts or Crypto Assets made available through Newton Crypto Ltd. (Newton) on the Newton Platform, including an opinion that JUP itself is not a security and/or derivative.  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.

Newton is offering Crypto Contracts in reliance on a prospectus exemption contained in the exemptive relief decision, dated March 8, 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 provinces and territories of Canada would not apply in respect of a misrepresentation in this Crypto Asset Statement or the Newton Platform Risk Statement.

This overview provides a summary of certain risks associated with JUP and is not an exhaustive description or summary of these risks and, in addition, does not take into account an individual’s particular situation or risk tolerance.  Investors are encouraged to conduct their own research prior to trading any crypto asset.

Newton users should read the Newton Platform Risk Statement for additional discussion of general risks associated with crypto assets made available through the Newton platform. A copy of the Newton Platform Risk Statement acknowledged by you is available in your account in the “Statements & Reports” section.

Token Description & Project Background

Jupiter (JUP) is a decentralized exchange (DEX) aggregator that focuses on providing the best possible token swap prices by routing through various decentralized exchanges across the Solana ecosystem. Jupiter offers users seamless access to liquidity and ensures optimal trade execution through smart routing and price discovery.

Key Features of Jupiter:

• DEX Aggregation: Jupiter aggregates liquidity from multiple decentralized exchanges on Solana to offer users the best prices for token swaps. It automatically finds the most efficient swap routes to minimize slippage and maximize value.
• Cross-Chain Swaps: Jupiter supports cross-chain swaps, allowing users to exchange assets between different blockchain networks seamlessly, making it a critical tool for multi-chain DeFi operations.
• Low Fees and High-Speed Transactions: Built on Solana, Jupiter benefits from the blockchain's low transaction fees and high-speed processing, making it an ideal platform for DeFi users looking for fast, affordable trades.
• User-Friendly Interface: Jupiter offers a simple, user-friendly interface, making it easy for users to execute token swaps with minimal hassle, even for those new to decentralized finance.

Risks of JUP

Like an investment in other crypto assets, an investment in JUP includes the following general risks:  (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 general risks associated with crypto assets, you may refer to the Newton Platform Risk Statement. 

Please note that these risks and the associated summaries or overviews provided for each herein are not intended to be an exhaustive discussion pertaining to all such risks and, in addition, there may be other risks that come with exposure to JUP. We encourage all Newton users to perform their own due diligence to assess the risks associated with JUP and to determine whether this level of risk is acceptable to them.  Neither the Jupiter team/founders nor Newton guarantees the value of JUP, and holders of JUP will not have any recourse to JUP or Newton if the value of JUP declines for any reason whatsoever.

Newton’s Evaluation Process

Newton has reviewed and assessed JUP prior to making it available on the Newton Platform and has concluded that JUP 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, Newton will be required to halt, suspend, and then remove JUP from its platform as described in the Newton Platform Risk Statement.

Further, as indicated above, no Canadian securities regulatory authority has expressed an opinion about JUP, including an opinion that JUP is not itself a security and/or derivative.

Based on publicly available information Newton has reviewed JUP, including, but not limited to, a review of the following:

• The creation, governance, usage, and design of JUP, including the source code, security, and roadmap for growth in the developer community and, if applicable, the background of the developer(s) that created JUP.
• The supply, demand, maturity, utility, and liquidity of JUP.
• Material technical risks associated with JUP, including any code defects, security breaches and other threats concerning JUP 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 JUP, including (i) any pending, potential, or prior civil, regulatory, criminal, or enforcement action relating to the issuance, distribution, or use of JUP, 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 JUP about whether JUP, or generally about whether the type of crypto asset, is a security and/or derivative.