White Paper Report



	White paper for crypto-assets other than asset-referenced tokens or e-money tokens

	Digital Token Identifier:	713C8WJPM; Q3H99491J; WSNQSD82H
	Operator of the trading platform:	54930069NLWEIGLHXU42 - OKX Europe Limited
	Type of submission:	New

Table of content
General information
SUMMARY
Part A - Information about offeror or person seeking admission to trading
Part B - Information about issuer, if different from offeror or person seeking admission to trading
Part C - Information about the operator of the trading platform in cases where it draws up the crypto-asset white paper and information about other persons drawing the crypto-asset white paper pursuant to Article 6(1), second subparagraph, of Regulation (EU) 2023/1114
Part D - Information about other token project
Part E - Information about offer to public of other tokens or their admission to trading
Part F - Information about other tokens
Part G - Information on rights and obligations attached to other tokens
Part H – Information on underlying technology
Part I - Information on risks
Part J - Information on the sustainability indicators in relation to adverse impact on the climate and other environment-related adverse impacts




[Table 2] Template for white papers for crypto-assets other than asset-referenced tokens or e-money tokens

Template for white papers for crypto-assets other than asset-referenced tokens or e-money tokens [abstract]
General information
00 Table of content	boolean true	true
01 Date of notification	date	2026-06-19
02 Statement in accordance with Article 6(3) of Regulation (EU) 2023/1114	boolean true	This crypto-asset white paper has not been approved by any competent authority in any Member State of the European Union. The operator of the trading platform of the crypto-asset is solely responsible for the content of this crypto-asset white paper.
03 Compliance statement in accordance with Article 6(6) of Regulation (EU) 2023/1114	boolean true	This crypto-asset white paper complies with Title II of Regulation (EU) 2023/1114 of the European Parliament and of the Council and, to the best of the knowledge of the management body, the information presented in the crypto-asset white paper is fair, clear and not misleading and the crypto-asset white paper makes no omission likely to affect its import.
04 Statement in accordance with Article 6(5), points (a), (b), (c), of Regulation (EU) 2023/1114	boolean true	The crypto-asset referred to in this crypto-asset white paper may lose its value in part or in full, may not always be transferable and may not be liquid
05 Statement in accordance with Article 6(5), point (d), of Regulation (EU) 2023/1114	boolean true	The utility token referred to in this white paper may not be exchangeable against the good or service promised in this white paper, especially in the case of a failure or discontinuation of the crypto-asset project.
06 Statement in accordance with Article 6(5), points (e) and (f), of Regulation (EU) 2023/1114	boolean true	The crypto-asset referred to in this white paper is not covered by the investor compensation schemes under Directive 97/9/EC of the European Parliament and of the Council or the deposit guarantee schemes under Directive 2014/49/EU of the European Parliament and of the Council.
SUMMARY
07 Warning in accordance with Article 6(7), second subparagraph, of Regulation (EU) 2023/1114	boolean true	Warning This summary should be read as an introduction to the crypto-asset white paper. The prospective holder should base any decision to purchase this crypto –asset on the content of the crypto-asset white paper as a whole and not on the summary alone. The offer to the public of this crypto-asset does not constitute an offer or solicitation to purchase financial instruments and any such offer or solicitation can be made only by means of a prospectus or other offer documents pursuant to the applicable national law. This crypto-asset white paper does not constitute a prospectus as referred to in Regulation (EU) 2017/1129 of the European Parliament and of the Council or any other offer document pursuant to Union or national law.
08 Characteristics of the crypto-asset	textBlock	BASED is an Other Crypto-Asset, classified as a utility token used within the Based crypto super-app ecosystem. BASED has a fixed maximum supply of 1,000,000,000 tokens and is deployed across three networks: Ethereum, where it follows the ERC-20 token standard (token contract 0x4f2b33840227DDD0e28da8d4185D6fa07ADfed87); BNB Smart Chain, where it follows the BEP-20 token standard (token contract 0x1d28d989f9e3ccb8b15d0cec601734514f958e4d); and the Hyperliquid HyperEVM network (token contract 0x053f6755320d06b8fd6675581b0475B2E32399b1), where it follows the ERC-20 token standard on an EVM-compatible Layer 1. Holders of BASED are intended to receive access to platform benefits, including reduced trading and prediction-market fees, Visa card rewards and tier-based limits, on-ramp and off-ramp fee reductions, launchpool participation, and discounts at Based Mall merchants, subject to the eligibility criteria set by the Based Foundation from time to time. The BASED token does not grant ownership rights, claims to profits or dividends, or any contractual entitlement against the issuer.
09 Further information about utility tokens	textBlock	The BASED token is a utility token. Holders may use BASED within the Based crypto super-app ecosystem to access platform benefits, including reduced fees on trading and prediction markets, Visa card rewards (subject to the program terms set by the Based Foundation, including cashback rates and tier-based card limits), reduced on-ramp and off-ramp fees, access to future launchpool offerings, discounts at Based Mall merchants, and consumption credits for planned agentic-commerce features. Access to specific benefits may depend on whether the holder stakes BASED or holds at a defined tier, on user verification, and on jurisdictional availability. The BASED token is freely and instantly transferable, utilising the underlying blockchain network's standard processes.
10 Key information about the offer to the public or admission to trading	textBlock	This whitepaper is published solely in connection with the admission to trading of the BASED token on OKX Europe Limited 's trading platform. There has been no offer of the crypto-asset to the public, and the crypto-asset has not been made available in exchange for fiat currency or other crypto-assets prior to its listing. The crypto-asset will be admitted to trading via OKX Europe Limited , an authorised crypto-asset service provider ("CASP") operating within the European Union. The trading admission does not involve any subscription, sale, or fundraising process. The purpose of this document is to provide key information regarding the characteristics of the crypto-asset, its governance, rights, and associated risks, to enable informed decision-making by users and market participants in the context of its admission to trading. Access to the crypto-asset on the trading platform may be subject to user verification, platform conditions, or applicable legal restrictions depending on the jurisdiction.
Part A - Information about offeror or person seeking admission to trading
A.1 Name	N/A		.
A.2 Legal form	N/A		.
A.3 Registered address
Registered addess	N/A		.
Country	N/A		.
Sub-division	N/A		.
A.4 Head office
Head office	N/A		.
Country	N/A		.
Sub-division	N/A		.
A.5 Registration date	N/A		.
A.6 Legal entity identifier	N/A		.
A.7 Another identifier required pursuant to applicable national law	N/A		.
A.8 Contact telephone number	N/A		.
A.9 E-mail address	N/A		.
A.10 Response time (days)	N/A		.
A.11 Parent company	N/A		.
A.12 Members of the management body
Member #1	N/A		.
Identity	N/A		.
Business address	N/A		.
Function	N/A		.
A.13 Business activity	N/A		.
A.14 Parent company business activity	N/A		.
A.15 Newly established	N/A		.
A.16 Financial condition for the past three years	N/A		.
A.17 Financial condition since registration	N/A		.
Part B - Information about issuer, if different from offeror or person seeking admission to trading
B.1 Issuer different from offerror or person seeking admission to trading	boolean	true
B.2 Name	text	Based Foundation
B.3 Legal form	text	No information could be identified in regards to this field at the time of drafting this whitepaper.
B.4 Registered address
Registered addess	text	No information could be identified in regards to this field at the time of drafting this whitepaper.
Country	enumeration
Sub-division	text	No information could be identified in regards to this field at the time of drafting this whitepaper.
B.5 Head office
Head office	text	No information could be identified in regards to this field at the time of drafting this whitepaper.
Country	enumeration
Sub-division	text	No information could be identified in regards to this field at the time of drafting this whitepaper.
B.6 Registration date	date
B.7 Legal entity identifier	LEI
B.8 Another identifier required pursuant to applicable national law	text	No information could be identified in regards to this field at the time of drafting this whitepaper.
B.9 Parent company	text	No information could be identified in regards to this field at the time of drafting this whitepaper.
B.10 Members of the management body
Member #1	id	1
Identity	text	No information could be identified in regards to this field at the time of drafting this whitepaper.
Business address	text	No information could be identified in regards to this field at the time of drafting this whitepaper.
Function	text	No information could be identified in regards to this field at the time of drafting this whitepaper.
B.11 Business activity	textBlock	Software development and operation of a consumer crypto application platform, including the development of the Based crypto super-app (trading, prediction-market access, payments via card, staking, and affiliate functions) and the coordination of ecosystem growth, token-related initiatives, and incentive programs associated with the BASED token.
B.12 Parent company business activity	textBlock	No information could be identified in regards to this field at the time of drafting this whitepaper.
Part C - Information about the operator of the trading platform in cases where it draws up the crypto-asset white paper and information about other persons drawing the crypto-asset white paper pursuant to Article 6(1), second subparagraph, of Regulation (EU) 2023/1114
C.1 Name	text	OKX Europe Limited
C.2 Legal form	text	Limited Liability Company
C.3 Registered address
Registered address	text	Piazzetta Business Plaza, Office Number 4, Floor 2, Triq Ghar il-Lembi, Sliema SLM1562, Malta
Country	enumeration	Malta
Sub-division	text	N/A
C.4 Head office
Head office	text	See C.4
Country	enumeration	Malta
Sub-division	text	N/A
C.5 Registration date	date	2018-09-07
C.6 Legal entity identifier	LEI	54930069NLWEIGLHXU42
C.7 Another identifier required pursuant to applicable national law	text	C 88193
C.8 Parent company	text	OKC International Holding Company Limited
C.9 Reason for crypto-asset white paper preparation	textBlock	This crypto-asset whitepaper has been prepared in accordance with MiCA for the purpose of: - The admission to trading of BASED on regulated platforms, starting with the OKX Exchange. OKX Europe Limited as a result of being a licenced CASP endeavours to fulfill the obligations established under MiCA and the respective MFSA guidelines to: - Notify this whitepaper to the MFSA; - Publish the whitepaper publicly; and - Ensure its registration in the MiCA register maintained by the European Securities and Markets Authority (ESMA). This whitepaper has been prepared to provide transparent, accurate, and fair information to prospective token holders and regulatory authorities in line with the principles of MiCA.
C.10 Members of the management body
Member #1	id	1
Identity	text	Erald Henri J. Ghoos
Business address	text	See C.4
Function	text	Director
Member #2	id	2
Identity	text	Fang Hong
Business address	text	See C.4
Function	text	Director
Member #3	id	3
Identity	text	Joseph Portelli
Business address	text	See C.4
Function	text	Director
Member #4	id	4
Identity	text	Wei Man Cheung
Business address	text	See C.4
Function	text	Director
C.11 Operator business activity	textBlock	OKX Europe Limited is licensed as a Crypto-Asset Service Provider by the Malta Financial Services Authority, bearing licence number OEUR-24352, to provide crypto services under the Markets in Crypto-Assets Act, Chapter 647, Laws of Malta and is the operator of a Trading Platform for Crypto Assets, in accordance with Article 3(1)(18) of Regulation (EU) 2023/1114 (MiCA).
C.12 Parent company business activity	textBlock	N/A
C.13 Other persons drawing up the crypto-asset white paper according to Article 6(1), second subparagraph, of Regulation (EU) 2023/1114	text	N/A
C.14 Reason for drawing the white paper by persons referred to in Article 6(1), second subparagraph, of Regulation (EU) 2023/1114	text	N/A
Member #2	id	2
C.12 Parent company business activity	N/A		.
C.13 Other persons drawing up the crypto-asset white paper according to Article 6(1), second subparagraph, of Regulation (EU) 2023/1114	N/A		.
C.14 Reason for drawing the white paper by persons referred to in Article 6(1), second subparagraph, of Regulation (EU) 2023/1114	N/A		.
Member #3	id	3
C.12 Parent company business activity	N/A		.
C.13 Other persons drawing up the crypto-asset white paper according to Article 6(1), second subparagraph, of Regulation (EU) 2023/1114	N/A		.
C.14 Reason for drawing the white paper by persons referred to in Article 6(1), second subparagraph, of Regulation (EU) 2023/1114	N/A		.
Member #4	id	4
C.12 Parent company business activity	N/A		.
C.13 Other persons drawing up the crypto-asset white paper according to Article 6(1), second subparagraph, of Regulation (EU) 2023/1114	N/A		.
C.14 Reason for drawing the white paper by persons referred to in Article 6(1), second subparagraph, of Regulation (EU) 2023/1114	N/A		.
Part D - Information about other token project
D.1 Crypto-asset project name	text	Based
D.2 Crypto-asset name	text	See F.13
D.3 Abbreviation	text	See F.13
D.4 Crypto-asset project description	textBlock	Based is a consumer crypto application platform, marketed as a crypto super-app, designed to combine multiple financial and consumer-facing services within a single account that users can access through web, iOS, Android, desktop, and Telegram clients. The platform is positioned as an application layer built on top of existing crypto infrastructure rather than a standalone blockchain. The Based application aggregates spot and perpetual trading through integration with the Hyperliquid exchange, prediction markets via integration with Polymarket, staking, in-app trading bots, launchpad participation, and developer-deployable MiniApps. The platform additionally offers real-world payment functionality through the Based Visa Card and operates an affiliate program through which users may earn commissions from referrals.
D.5 Details of all natural or legal persons involved in implementation of crypto-asset project
Person #1	id	1
Type of person	enumeration	Other person involved in implementation
Name of person	text	Edison Lim Jun Hao
Business address of person	text	Singapore
Domicile of company	enumeration
Person #2	id	2
Type of person	enumeration	Other person involved in implementation
Name of person	text	Zac Ler Ze Chen
Business address of person	text	Singapore
Domicile of company	enumeration
Person #3	id	3
Type of person	enumeration	Other person involved in implementation
Name of person	text	Based Technologies Limited
Business address of person	text
Domicile of company	enumeration	Virgin Islands (British)
Person #4	id	4
Type of person	enumeration	Other person involved in implementation
Name of person	text	Based Foundation
Business address of person	text
Domicile of company	enumeration
D.6 Utility token classification	boolean	true
D.7 Key features of goods or services for utility token projects	text	The Based platform provides users with access to a range of services within a single application environment. Users may trade spot and perpetual markets through integration with the Hyperliquid exchange, access hundreds of prediction markets via the Polymarket integration, and make real-world payments using the Based Visa Card, which the project describes as accepted at over one hundred million merchants worldwide. The platform offers staking, through which holders may lock BASED to obtain fee discounts, launchpool access, and ecosystem benefits, and includes AI-powered trading intelligence, an inference gateway, and Based Pages. Users may also participate in launchpad offerings and earn commissions through the project's affiliate referral program. Access to certain services may be subject to jurisdictional availability, user verification, and the terms set by the Based Foundation from time to time.
D.8 Plans for the token
Description of past milestones	textBlock	The Based project was founded in 2023 and is associated with a Singapore-headquartered team. Before the token launch, the project ran a series of community programmes, including the Based Community seasons (S1, S2, PUPs, BasedPal) and an Ethena community campaign. In February 2026 the project closed a Series A equity round of approximately USD 11.5 million, led by Pantera Capital with participation from Coinbase Ventures, Wintermute Ventures, Ethena, Hashed, Spartan Group, and Karatage; the round was structured as equity with token warrants. The Based consumer application went live across web, iOS, Android, desktop, and Telegram interfaces, integrating spot and perpetual trading through Hyperliquid, prediction markets through Polymarket, and the Based Visa Card. The Token Generation Event took place on 30 March 2026, coinciding with the project's first major exchange listing on KuCoin. Following the Token Generation Event, the BASED token was deployed across Ethereum, BNB Smart Chain, and the Hyperliquid HyperEVM network.
Description of future milestones	textBlock	The project has communicated a number of forward-looking milestones. The Season 3 Participants allocation, representing 5% of total supply within the Genesis bucket, is scheduled for distribution in May 2026. The rollout of agentic-commerce capabilities has been flagged for the second quarter of 2026. The Ethena Community allocation is released on a staged schedule, with 0.5% of total supply unlocked at the Token Generation Event, 20% distributed over the three months following the Token Generation Event, and the remaining 80% unlocked after a one-year cliff. Investor and Core Contributor allocations are released through approximately 30 March 2029 on a one-year lock followed by two years of monthly unlocks. The project has indicated planned expansion of headcount across marketing, product, and engineering functions, as well as future product releases including launchpool, Based Mall merchant integrations, and additional Based AI capabilities. No formal long-form roadmap has been published by the Based Foundation at the time of drafting this whitepaper.
D.9 Resource allocation	text	The BASED token has a fixed maximum supply of 1,000,000,000 tokens, allocated at the Token Generation Event on 30 March 2026 across the following categories, sourced from official Based project tokenomics documentation: Genesis Distribution: 36% (360,000,000 BASED), sub-divided into: Based Community (S1, S2, PUPs, BasedPal): 23.5% of total supply, fully unlocked at the Token Generation Event; Ethena Community: 7.5% of total supply, of which 0.5% is unlocked at the Token Generation Event, 20% is distributed over the three months following the Token Generation Event, and the remaining 80% is unlocked after a one-year cliff; Season 3 Participants: 5% of total supply, scheduled for distribution in May 2026. Ecosystem and Rewards: 23.64% (236,400,000 BASED), managed by the Based Foundation and intended to support ecosystem growth, incentive programs, and platform development. Investors: 20.36% (203,600,000 BASED), subject to a one-year lock followed by two years of monthly unlocks. Core Contributors: 20% (200,000,000 BASED), subject to a one-year lock followed by two years of monthly unlocks. The emission schedule runs from approximately 30 March 2026 through 30 March 2029, at which point all allocations are scheduled to have fully vested. The total supply of BASED is fixed at 1,000,000,000; circulating supply is subject to change depending on vesting schedules and unlocks.
D.10 Planned use of collected funds or other tokens	text	Treasury-held BASED token allocations comprise the Ecosystem and Rewards allocation of 23.64% of total supply (approximately 236,400,000 BASED), which is managed by the Based Foundation and intended to fund ecosystem growth, user incentive programs, partner integrations, launchpool seeding, and platform development. The Core Contributor allocation of 20% of total supply (approximately 200,000,000 BASED) is intended to compensate the founding team and core contributors over a three-year vesting schedule. Separately, the project raised approximately USD 11.5 million through a Series A equity round closed in February 2026, led by Pantera Capital with participation from Coinbase Ventures, Wintermute Ventures, Ethena, Hashed, Spartan Group, and Karatage. According to the Series A announcement, the proceeds are intended to fund the expansion of the Based platform, including a doubling of headcount across marketing, product, and engineering, the build-out of agentic-commerce capabilities, and ongoing operating costs.
Part E - Information about offer to public of other tokens or their admission to trading
E.1 Public offering or admission to trading	enumeration	Admission to trading
E.2 Reasons for public offer or admission to trading	textBlock	Facilitating secondary trading for users on the OKX Trading platform in compliance with the MiCA regulatory framework.
E.3 Fundraising target
Target expressed in currency	monetary	0	EUR
Target expressed in units	decimal	0
Target expressed in digital token identifier	text	N/A
E.4 Minimum subscription goals
Goals expressed in currency	monetary	0	EUR
Goals expressed in units	decimal	0
Goals expressed in digital token identifier	text	N/A
E.5 Maximum subscription goals
Goasl expressed in currency	monetary	0	EUR
Goals expressed in units	decimal	0
Goals expressed in digital token identifier	text	N/A
E.6 Oversubscription acceptance	boolean	false
E.7 Oversubscription allocation	text
Issue price details
E.8 Issue price	decimal
E.9 Official currency determining issue price	enumeration
E.9 Any other tokens determining issue price	text
E.10 Subscription fee
Fee expressed in currency	monetary	0	EUR
Fee expressed in units	decimal	0
Fee expressed in digital token identifier	text	N/A
E.11 Offer price determination method	text	N/A
E.12 Total number of offered or traded other tokens	integer	1000000000
E.13 Targeted holders	enumeration	All types of investors
E.14 Holder restrictions	text	N/A
E.15 Reimbursement notice	boolean true	N/A
E.16 Refund mechanism	textBlock	N/A
E.17 Refund timeline	text	N/A
E.18 Offer phases	textBlock	N/A
E.19 Early purchase discount	textBlock	N/A
E.20 Time-limited offer	boolean	false
E.21 Subscription period beginning	date
E.22 Subscription period end	date
E.23 Safeguarding arrangements for offered funds or other tokens	textBlock	N/A
E.24 Payment methods for other token purchase	textBlock	In line with OKX current payment method offering.
E.25 Value transfer methods for reimbursement	textBlock	N/A
E.26 Right of withdrawal	textBlock	N/A
E.27 Transfer of purchased other tokens	textBlock	In line with OKX current Terms of Service.
E.28 Transfer time schedule	text	N/A
E.29 Purchaser's technical requirements	textBlock	In line with OKX current Terms of Service.
Other token services provider characteristics
E.30 Other token service provider (CASP) name	text	OKX Europe Limited
E.31 CASP identifier	LEI	54930069NLWEIGLHXU42
E.32 Placement form	enumeration	Not applicable
Trading platforms characteristics
E.33 Trading platforms name	text	OKX
E.34 Trading platforms market identifier code (MIC)	text	N/A
E.35 Trading platforms access	text	Users may access BASED through the OKX Trading Platform via the Application Program Interface ("API"), the Application Software ("OKX App"), as well as the official OKX website as follows; www.okx.com.
E.36 Involved costs	textBlock	In line with the OKX current Terms of Service.
E.37 Offer expenses	textBlock	N/A
E.38 Conflicts of interest	textBlock	A crypto-asset is listed following a decision rendered independently by the Listing Committee in line with the internal policies of OKX Europe Limited. Any potential disclosures that may arise of conflicts of interest are published on the OKX website.
E.39 Applicable law	textBlock	Malta
E.40 Competent court	textBlock	Malta
Part F - Information about other tokens
F.1 Crypto-asset type	text	Other Crypto-Asset.
F.2 Other token functionality	textBlock	The BASED token is the native utility token of the Based crypto super-app ecosystem. Its functionalities, sourced from the official Based project documentation, include: (i) granting tier-based access to reduced trading and prediction-market fees; (ii) granting access to Based Visa Card rewards, including cashback (described in project materials as up to eight per cent, subject to program terms) and higher card limits at higher token holding tiers; (iii) reducing on-ramp and off-ramp fees within the Based platform; (iv) granting access to future launchpool offerings; (v) providing discounts at Based Mall merchants; (vi) providing consumption credits for future agentic-commerce features; (vii) supporting staking within the Based platform, through which holders may unlock fee discounts, launchpool access, and additional ecosystem benefits.
F.3 Planned application of functionalities	textBlock	The BASED token is live across its multi-chain deployment as of 30 March 2026, and the staking, fee-reduction, and card-reward functionalities described above are available to users subject to platform availability and jurisdictional limitations. The launchpool, Based Mall merchant-discount, and agentic-commerce credit functionalities are described in project materials as planned features and may not be fully active as of the date of this whitepaper.
A description of the characteristics of the other token, including the data necessary for classification of the crypto-asset white paper in the register referred to in Article 109 of Regulation (EU) 2023/1114, as specified in accordance with paragraph 8 of that Article
F.4 Type of crypto-asset white paper	enumeration	Other crypto-asset token white paper
F.5 Type of submission	enumeration	New
F.6 Other token characteristics	textBlock	BASED is an Other Crypto-Asset, classified as a utility token, with a fixed maximum supply of 1,000,000,000 (one billion) BASED. The token is deployed on three networks: Ethereum, where it follows the ERC-20 token standard (token contract 0x4f2b33840227DDD0e28da8d4185D6fa07ADfed87); BNB Smart Chain, where it follows the BEP-20 token standard (token contract 0x1d28d989f9e3ccb8b15d0cec601734514f958e4d); and the Hyperliquid HyperEVM network (token contract 0x053f6755320d06b8fd6675581b0475B2E32399b1), where it follows the ERC-20 token standard on an EVM-compatible Layer 1. The Token Generation Event took place on 30 March 2026.
F.7 Commercial name or trading name	text	See F.13
F.8 Website of the issuer	text	https://basedfoundation.com/
F.9 Starting date of offer to the public or admission to trading	date	2026-07-17
F.10 Publication date	date	2026-07-17
F.11 Any other services provided by the issuer	textBlock	N/A
F.12 Language or languages of white paper	text	English
F.13 Digital token identifier code used to uniquely identify the crypto-asset or each of the several crypto assets to which the white paper relates, where available	text	713C8WJPM; Q3H99491J; WSNQSD82H
F.14 Functionally fungible group digital token identifier, where available	text	Q2537P85K
F.15 Voluntary data flag	boolean	false
F.16 Personal data flag	boolean	true
F.17 LEI eligibility	boolean	true
F.18 Home member state	enumeration	Malta
F.19 Host member states #1	enumerationSet	Austria
F.19 Host member states #2	enumerationSet	Belgium
F.19 Host member states #3	enumerationSet	Bulgaria
F.19 Host member states #4	enumerationSet	Croatia
F.19 Host member states #5	enumerationSet	Cyprus
F.19 Host member states #6	enumerationSet	Czechia
F.19 Host member states #7	enumerationSet	Denmark
F.19 Host member states #8	enumerationSet	Estonia
F.19 Host member states #9	enumerationSet	Finland
F.19 Host member states #10	enumerationSet	France
F.19 Host member states #11	enumerationSet	Germany
F.19 Host member states #12	enumerationSet	Greece
F.19 Host member states #13	enumerationSet	Hungary
F.19 Host member states #14	enumerationSet	Iceland
F.19 Host member states #15	enumerationSet	Ireland
F.19 Host member states #16	enumerationSet	Italy
F.19 Host member states #17	enumerationSet	Latvia
F.19 Host member states #18	enumerationSet	Liechtenstein
F.19 Host member states #19	enumerationSet	Lithuania
F.19 Host member states #20	enumerationSet	Luxembourg
F.19 Host member states #21	enumerationSet	Malta
F.19 Host member states #22	enumerationSet	Netherlands
F.19 Host member states #23	enumerationSet	Norway
F.19 Host member states #24	enumerationSet	Poland
F.19 Host member states #25	enumerationSet	Portugal
F.19 Host member states #26	enumerationSet	Romania
F.19 Host member states #27	enumerationSet	Slovakia
F.19 Host member states #28	enumerationSet	Slovenia
F.19 Host member states #29	enumerationSet	Spain
F.19 Host member states #30	enumerationSet	Sweden
Part G - Information on rights and obligations attached to other tokens
G.1 Purchaser rights and obligations	textBlock	There are no obligations attached for/of the purchaser. Holders of the BASED token are intended to obtain access to the platform benefits offered by the Based crypto super-app ecosystem, including tier-based access to reduced trading and prediction-market fees, Visa card rewards and tier-based card limits, reduced on-ramp and off-ramp fees, launchpool participation, discounts at Based Mall merchants, and consumption credits for planned agentic-commerce features. Access to these benefits may depend on holding or staking BASED at defined tiers and on user verification, jurisdictional availability, and the terms of the relevant program set by the Based Foundation from time to time. At the time of drafting this whitepaper, no formal on-chain or off-chain governance process has been launched by the Based project, and the BASED token does not grant voting rights in any decentralised autonomous organisation. Ownership of the BASED token does not grant any claim to profits, dividends, or assets of the issuer.
G.2 Exercise of rights and obligations	textBlock	As the BASED token does not grant obligations, there is no conceivable way to exercise such obligations. The rights attached to BASED are exercised through the Based platform interfaces (web, iOS, Android, desktop, and Telegram clients), where holders may, where eligible, stake BASED to access fee discounts and tier-based card limits, redeem reward credits, and participate in launchpool offerings. Specific eligibility, the operation of card rewards, and access to future Based platform features remain subject to the terms set by the Based Foundation from time to time.
G.3 Conditions for modifications of rights and obligations	textBlock	As the token does not grant obligations, there are no conditions under which the obligations may be modified. Modifications to the rights and platform benefits associated with the BASED token are made by the Based Foundation through changes to the platform's product terms, its staking and rewards programs, and the technical implementation of the BASED smart contracts. No formal decentralised governance mechanism through which holders can propose or vote on modifications to the rights attached to BASED has been launched at the time of drafting this whitepaper.
G.4 Future public offers	textBlock	N/A
G.5 Issuer retained other token	integer	436400000
G.6 Utility token classification	boolean	true
G.7 Key features of goods or services utility tokens	text	The BASED token grants holders access to a defined set of platform benefits within the Based crypto super-app ecosystem. These benefits, sourced from official Based project documentation, include tier-based reductions in trading and prediction-market fees, Based Visa Card cashback and tier-based card limits, reduced on-ramp and off-ramp fees, eligibility for launchpool offerings, discounts at Based Mall merchants, and consumption credits for planned agentic-commerce features. Holders may stake BASED within the Based platform to access fee discounts, launchpool eligibility, and additional ecosystem benefits.
G.8 Utility tokens redemption	text	The BASED token does not grant redemption rights for off-chain goods, services, or fiat currency. Its function is to provide access to the platform benefits within the Based crypto super-app ecosystem described in field G.7, including tier-based fee discounts, Visa card rewards and tier-based card limits, launchpool eligibility, Based Mall merchant discounts, and consumption credits for planned agentic-commerce features. Access to these benefits is conditional on holding or staking BASED at the relevant tier set by the Based Foundation from time to time and is subject to user verification and jurisdictional availability. The BASED token itself is not burned or surrendered in the course of accessing these benefits.
G.9 Non-trading request	boolean	true
G.10 Other tokens purchase or sale modalities	text	N/A
G.11 Other tokens transfer restrictions	text	In line with OKX current Terms of Service.
G.12 Supply adjustment protocols	boolean	false
G.13 Supply adjustment mechanisms	text	N/A
Other token schemes details
G.14 Token value protection schemes	boolean	false
G.15 Token value protection schemes description	textBlock	N/A
G.16 Compensation schemes	boolean	false
G.17 Compensation schemes description	textBlock	N/A
G.18 Applicable law	textBlock	Malta
G.19 Competent court	textBlock	Malta
Part H – Information on underlying technology
H.1 Distributed ledger technology (DTL)	text	See F.13
H.2 Protocols and technical standards	text	The BASED token is implemented across multiple blockchains, adhering to the native token standards of each respective network to ensure interoperability and functionality. Ethereum (ERC-20): ERC-20 is the widely adopted standard for fungible tokens on Ethereum, defining a common interface for token issuance, transfers, and third-party integrations. ERC-20 tokens are deployed via smart contracts that control total supply, balances, and permissions, and are compatible with Ethereum wallets, DeFi applications, and decentralized exchanges. The standard supports functions such as transfer, approve, mint, and burn, enabling programmable token logic through Ethereum's account-based architecture. BNB Smart Chain (BEP-20): BEP-20 is the widely adopted standard for fungible tokens on BNB Smart Chain, defining a common interface for token issuance, transfers, and third-party integrations. BEP-20 tokens are deployed via smart contracts that control total supply, balances, and permissions, and are compatible with EVM-compatible wallets, DeFi applications, and decentralized exchanges. The standard supports functions such as transfer, approve, mint, and burn, enabling programmable token logic through BNB Smart Chain's account-based architecture. Hyperliquid HyperEVM (ERC-20): The Hyperliquid HyperEVM is the EVM-compatible execution environment of the Hyperliquid Layer 1 blockchain. BASED is deployed on HyperEVM as a smart contract following the ERC-20 token standard, providing the same common interface for token issuance, transfers, and third-party integrations as the Ethereum deployment, and compatible with EVM-compatible wallets and applications. The HyperEVM deployment interacts with HyperCore, Hyperliquid's native order-book trading environment, via the chain's HyperCore-to-HyperEVM bridging primitives.
H.3 Technology used	textBlock	The underlying technology varies across the networks on which the BASED token is deployed, as described below. Ethereum: Ethereum is a general-purpose Layer 1 blockchain that supports smart contract execution via the Ethereum Virtual Machine (EVM). The BASED token contract on Ethereum is written in Solidity and interacts with the Ethereum network using RPC-compatible clients. The Ethereum ecosystem enables composability with DeFi, NFT, and DAO infrastructure, and supports programmable token functionality within a Turing-complete environment. BNB Smart Chain: BNB Smart Chain is a general-purpose Layer 1 blockchain that supports smart contract execution via the Ethereum Virtual Machine (EVM). The BASED token contract on BNB Smart Chain interacts with the BNB Smart Chain network using RPC-compatible clients. The BNB Smart Chain ecosystem enables composability with DeFi, NFT, and DAO infrastructure, and supports programmable token functionality within a Turing-complete environment. Hyperliquid HyperEVM: HyperEVM is the EVM-compatible execution environment running in parallel with HyperCore on the Hyperliquid Layer 1 blockchain. The BASED token contract on HyperEVM interacts with the network using EVM-compatible RPC clients. HyperEVM provides general-purpose smart-contract execution while interoperating with HyperCore, Hyperliquid's native on-chain order-book trading environment, via the chain's HyperCore-to-HyperEVM transfer primitives.
H.4 Consensus mechanism	text	The consensus mechanism varies across the networks on which the BASED token is deployed, as described below. Ethereum: Ethereum uses a Proof-of-Stake (PoS) consensus mechanism. Validators are selected to propose and attest to new blocks based on the amount of ETH they have staked. Blocks are finalized through a checkpoint-based finality system, with strong economic incentives to penalize dishonest behavior. This mechanism supports decentralization, finality, and high security. This consensus model ensures the integrity of the blockchain, including the execution and recording of all associated transactions for the BASED token. BNB Smart Chain: BNB Smart Chain uses a Proof-of-Staked-Authority (PoSA) consensus mechanism. A limited set of validators are selected to produce and attest to new blocks based on the amount of BNB they have staked. This model is designed for high throughput and low transaction fees, combining elements of Delegated Proof-of-Stake (DPoS) and Proof-of-Authority (PoA) to achieve fast finality. This mechanism supports high performance and security, ensuring the integrity of the blockchain, including the execution and recording of all associated transactions for the BASED token. Hyperliquid HyperEVM: The Hyperliquid Layer 1 blockchain operates a custom Byzantine Fault Tolerant (BFT) consensus algorithm referred to as HyperBFT, in which a permissioned validator sets the network's native HYPE token. Transactions on HyperCore and HyperEVM are sequenced and finalized by the same validator set, providing deterministic finality with sub-second block times. Validator economic security is enforced through staked HYPE and protocol-level slashing of dishonest behavior. This consensus model ensures the integrity of the blockchain, including the execution and recording of all associated transactions for the BASED token on HyperEVM.
H.5 Incentive mechanisms and applicable fees	text	Incentive structures and fee mechanics vary across the networks on which the BASED token is deployed, as described below. Ethereum: Ethereum validators earn rewards in the native token (ETH) for producing and attesting to blocks. Gas fees are paid in ETH and are required to execute transactions or smart contract calls, including BASED token transfers. Under EIP-1559, a portion of the base fee is burned while the remainder is distributed to validators. Fees vary depending on network congestion and computational complexity of the transaction. BNB Smart Chain: BNB Smart Chain validators earn rewards in the native token (BNB) for producing and attesting to blocks. Gas fees are paid in BNB and are required to execute transactions or smart contract calls, including BASED token transfers. Fees vary depending on network congestion and the computational complexity of the transaction but are generally designed to be lower than on the Ethereum network. Hyperliquid HyperEVM: Validators on the Hyperliquid Layer 1 blockchain earn rewards in the native token (HYPE) for participating in HyperBFT consensus, with rewards funded through protocol issuance and the protocol's fee distribution model. Gas fees on HyperEVM are paid in HYPE and are required to execute transactions and smart contract calls, including BASED token transfers. Fees vary depending on the computational complexity of the transaction and on the relevant HyperEVM block-space pricing.
H.6 Use of distributed ledger technology	boolean	false
H.7 DLT functionality description	textBlock	N/A
Other token audit details
H.8 Audit	boolean	false
H.9 Audit outcome	textBlock	N/A
Part I - Information on risks
I.1 Offer-related risks	textBlock	This whitepaper is submitted by OKX Europe Limited solely for the purpose of the assets admission to trading. No public offer of BASED tokens is being made by the issuer or OKX Europe Limited . Risks associated with the admission to trading include; Service-related interruption; Holders may be unable to access the utility due to technical, operation, or regulatory disruptions. Jurisdictional limitations; BASED services or token utility may not be available in all jurisdictions, potentially restricting access. Platform reliance; Access depends on third-party infrastructure (wallets,platforms) and service interruptions or failures may affect token utility. Limited liability; OKX Europe Limited assumes no responsibility for the issuers project continuation, and token ownership does not confer contractual rights or guarantees. Unexpected Risks: Beyond the risks outlined in this whitepaper, there may be additional risks that are currently unforeseen. It is imperative to note that certain risks may emerge from unforeseen events, changes, or interactions among factors that are difficult to predict. These unexpected risks may significantly and negatively impact the crypto-asset, the project, or the parties involved.
I.2 Issuer-related risks	textBlock	Operational Risks; There is a risk that the issuer may face financial or operational difficulties, including insolvency, which could impact the continued development or availability of the services associated with the BASED token. Counterparty Risks; Counterparty risks may arise where the issuer relies on third-party service providers or technology partners. Reputational Risks; Adverse media and/or damage or loss of key personnel could negatively affect the ecosystem that the BASED token lives on. Competition Risk; The issuer may face increased competition or changes in market conditions that affect its ability to carry out its objectives. Regulatory Risks; The issuer may be subject to investigations, enforcement actions, or change in regulation that affect the tokens legal status in certain jurisdictions. Disclosure Risks; The issuer may not be required to provide financial statements, limiting BASED token holders visibility into the financial health status of the issuer/project. Issuer Risks; The information provided is based solely on publicly available sources and does not constitute any form of guarantee or warranty as to its accuracy or completeness. Key Person Risk; The project and/or tokens success may rely on a small number of individuals or core team. If these individuals depart from the project, the direction and continuity of the project may be negatively affected in the future. Governance Risk; Projects that lack a formal, decentralised community governance mechanism, with decisions regarding protocol upgrades, treasury management, and strategic direction being made centrally by the project team may increase project centralisation risks. As a result, the direction of the project may rest predominantly with the issuer or a small group of contributors, which may affect the transparency of future changes, reduce alignment with user interests, and expose the project to operational or reputational risks if those central parties encounter difficulties or act in a manner contrary to the expectations of the broader community.
I.3 Other tokens-related risks	textBlock	Market Volatility; The BASED token may be subject to significant volatility and could lose value rapidly, either due to market conditions or otherwise (issuer-related/technology/project implementation risks) Utility Risk; The BASED tokens utility depends on access to certain services, and any modification or discontinuation of those services could reduce the associated utility of the token. Smart Contract Risk; The BASED token may operate through smart contracts that may contain vulnerabilities, even if audited, and upgrades to the protocol or governance changes may affect functionality. Liquidity Risk; Periods of low/limited liquidity may occur, particularly if the demand for the token or its use case decreases, which could have adverse effects on the BASED tokens price and future use cases. Token Unlock Risk; Scheduled vesting cliffs and token unlocks may significantly increase circulating supply, potentially causing volatility and/or downward price pressure. Project Maturity Risk; Tokens associated with recently launched projects may carry increased risk due to limited development history, untested infrastructure, and/or the absence of a proven track record.
I.4 Project implementation-related risks	textBlock	Scalability Issues; There is a risk that the project may not be implemented or scaled as intended. Technical limitations or infrastructure bottlenecks could hinder the expected scalability of the project, especially if user demand exceeds network or protocol capacity. Governance Risk; The project may be subject to governance processes that involve on-chain voting or community proposals. Misaligned incentives, low participation, or malicious actors may affect the outcome of governance decisions and disrupt the project's roadmap. Centralisation Risk; Similar to governance risks outlined above, centralisation within the governance process, or validator centralisation could lead to a lack of decentralization within the network, which carries future risks in terms of trust within the project, and also in regards to future roadmaps where plans may not reflect the interests of the broader user base.
I.5 Technology-related risks	textBlock	The technology-related risks associated with the BASED token reflect the characteristics of the networks on which it is deployed. Blockchain Performance Risk; The Ethereum, BNB Smart Chain, and Hyperliquid blockchains, on which the token is issued, may experience downtime or congestion, which could delay or prevent token transfer or utility usage. Consensus Failure Risk; A failure in the blockchain's consensus mechanism could result in halted transactions, unexpected behavior, or loss in network integrity. Smart Contract Vulnerabilities; Although the token uses audited or standard smart contract makeups (ERC-20 on Ethereum, BEP-20 on BNB Smart Chain, and ERC-20 on the Hyperliquid HyperEVM), undetected bugs, exploits, or implementation errors could compromise functionality or security. Upgradeability Risk; If the token or related contracts are upgradeable and have designated "owner" addresses, this introduces a central point of failure, and could be misused by malicious actors. Third-party Infrastructure Dependency; Interaction with the token or project may rely on external infrastructure (APIs, wallet services, off-chain governance voting). Outages or attacks may interrupt access to token-related services. Interoperability Risk; If the token interacts with other chains, bridges, or oracles, failures or exploits in those systems could affect the token's operations. Protocol-level Risk; Upgrades or forks of the protocol itself may affect the token, which could lead to compatibility issues and/or unexpected token behaviour. Emerging Technology Risk; Advances in computing or undiscovered vulnerabilities in cryptographic algorithms may pose long-term security risks to the blockchain or associated smart contracts.
I.6 Mitigation measures	textBlock	Mitigation measures for the BASED token must address risks arising across all deployment networks. Blockchain Performance Risk; The Ethereum, BNB Smart Chain, and Hyperliquid blockchains have each adopted consensus mechanisms designed to improve network scalability and reduce latency. Ongoing protocol upgrades to these networks are designed to enhance throughput, and per-network transaction fees help prioritise transactions under load. Consensus Failure Risk; The consensus mechanisms operated by the Ethereum, BNB Smart Chain, and Hyperliquid blockchains each include validator incentives, slashing or equivalent penalties for malicious actors, and finality mechanisms to ensure integrity. Validator sets are designed to be distributed to reinforce decentralization of each network. Smart Contract Vulnerabilities; Smart contracts on the Ethereum, BNB Smart Chain, and Hyperliquid blockchains are immutable by design, unless explicitly designed to be upgradeable. The ecosystems on each network encourage open source code, independent audits, and community input. Standardised libraries (such as OpenZeppelin for EVM-compatible chains) reduce coding errors by reusing tested components. Upgradeability Risk; The Ethereum, BNB Smart Chain, and Hyperliquid blockchains do not enforce upgrade functionalities within smart contracts but support their technical implementation. Risks related to upgradeable contracts can be mitigated through standard practices such as time-delay triggers and multi-signature wallets. Third-party Infrastructure Dependency; The Ethereum, BNB Smart Chain, and Hyperliquid blockchains and their ecosystems support decentralized indexing, querying, and RPC infrastructure to reduce reliance on centralized third-party data services. Interoperability Risk; Mitigations for cross-chain bridging across the Ethereum, BNB Smart Chain, and Hyperliquid blockchains include the use of audited bridges and token locking mechanisms. Protocol-level Risk; The Ethereum, BNB Smart Chain, and Hyperliquid blockchains each maintain public roadmaps and follow structured governance processes. Core updates to these networks undergo extensive testing and community review prior to implementation. Emerging Technology Risk; Developers across the Ethereum, BNB Smart Chain, and Hyperliquid blockchains monitor potential emerging-technology threats and actively research and develop quantum-resistant solutions. The modular designs of these networks may allow for future cryptographic upgrades if required.
Part J - Information on the sustainability indicators in relation to adverse impact on the climate and other environment-related adverse impacts
J.1 Adverse impacts on climate and other environment-related adverse impacts	textBlock
Mandatory information on principal adverse impacts on the climate and other environment-related adverse impacts of the consensus mechanism
General information about adverse impacts
S.1 Name	text	OKX Europe Limited
S.2 Relevant legal entity identifier	text	54930069NLWEIGLHXU42
S.3 Name of the crypto-asset	text	BASED
S.4 Consensus mechanism	text	BASED is present on the following networks: Ethereum, Hyperliquid HyperEVM and BNB Smart Chain: The crypto-asset's Proof-of-Stake (PoS) consensus mechanism, introduced with The Merge in 2022, replaces mining with validator staking. Validators must stake at least 32 ETH every block a validator is randomly chosen to propose the next block. Once proposed the other validators verify the blocks integrity. The network operates on a slot and epoch system, where a new block is proposed every 12 seconds, and finalization occurs after two epochs (~12.8 minutes) using Casper-FFG. The Beacon Chain coordinates validators, while the fork-choice rule (LMD-GHOST) ensures the chain follows the heaviest accumulated validator votes. Validators earn rewards for proposing and verifying blocks, but face slashing for malicious behavior or inactivity. PoS aims to improve energy efficiency, security, and scalability, with future upgrades like Proto-Danksharding enhancing transaction efficiency. Hyperliquid is a decentralized perpetual exchange (DEX) built on its proprietary Layer 1 blockchain, Hyperliquid L1. At the core of its architecture is the HyperBFT consensus mechanism, inspired by the Hotstuff protocol, designed to meet the demands of high-frequency trading while maintaining security and consistency across the ecosystem. Binance Smart Chain (BSC) uses a hybrid consensus mechanism called Proof of Staked Authority (PoSA), which combines elements of Delegated Proof of Stake (DPoS) and Proof of Authority (PoA). This method ensures fast block times and low fees while maintaining a level of decentralization and security. Core Components 1. Validators (so-called \u201cCabinet Members\u201d): Validators on BSC are responsible for producing new blocks, validating transactions, and maintaining the network\u2019s security. To become a validator, an entity must stake a significant amount of BNB (Binance Coin). Validators are selected through staking and voting by token holders. There are 21 active validators at any given time, rotating to ensure decentralization and security. 2. Delegators: Token holders who do not wish to run validator nodes can delegate their BNB tokens to validators. This delegation helps validators increase their stake and improves their chances of being selected to produce blocks. Delegators earn a share of the rewards that validators receive, incentivizing broad participation in network security. 3. Candidates: Candidates are nodes that have staked the required amount of BNB and are in the pool waiting to become validators. They are essentially potential validators who are not currently active but can be elected to the validator set through community voting. Candidates play a crucial role in ensuring there is always a sufficient pool of nodes ready to take on validation tasks, thus maintaining network resilience and decentralization. Consensus Process 4. Validator Selection: Validators are chosen based on the amount of BNB staked and votes received from delegators. The more BNB staked and votes received, the higher the chance of being selected to validate transactions and produce new blocks. The selection process involves both the current validators and the pool of candidates, ensuring a dynamic and secure rotation of nodes. 5. Block Production: The selected validators take turns producing blocks in a PoA-like manner, ensuring that blocks are generated quickly and efficiently. Validators validate transactions, add them to new blocks, and broadcast these blocks to the network. 6. Transaction Finality: BSC achieves fast block times of around 3 seconds and quick transaction finality. This is achieved through the efficient PoSA mechanism that allows validators to rapidly reach consensus. Security and Economic Incentives 7. Staking: Validators are required to stake a substantial amount of BNB, which acts as collateral to ensure their honest behavior. This staked amount can be slashed if validators act maliciously. Staking incentivizes validators to act in the network's best interest to avoid losing their staked BNB. 8. Delegation and Rewards: Delegators earn rewards proportional to their stake in validators. This incentivizes them to choose reliable validators and participate in the network\u2019s security. Validators and delegators share transaction fees as rewards, which provides continuous economic incentives to maintain network security and performance. 9. Transaction Fees: BSC employs low transaction fees, paid in BNB, making it cost-effective for users. These fees are collected by validators as part of their rewards, further incentivizing them to validate transactions accurately and efficiently.
S.5 Incentive mechanisms and applicable fees	text	BASED is present on the following networks: Ethereum, Hyperliquid HyperEVM and BNB Smart Chain The crypto-asset's PoS system secures transactions through validator incentives and economic penalties. Validators stake at least 32 ETH and earn rewards for proposing blocks, attesting to valid ones, and participating in sync committees. Rewards are paid in newly issued ETH and transaction fees. Under EIP-1559, transaction fees consist of a base fee, which is burned to reduce supply, and an optional priority fee (tip) paid to validators. Validators face slashing if they act maliciously and incur penalties for inactivity. This system aims to increase security by aligning incentives while making the crypto-asset's fee structure more predictable and deflationary during high network activity. Hyperliquid incentivizes participants through its native token, HYPE. Validators and delegators earn rewards in HYPE for securing the network and participating in governance. Users can also earn HYPE by staking, providing liquidity, and engaging in other ecosystem activities. This dual-token system encourages active participation and supports the network's growth and stability. Hyperliquid employs a dynamic fee model where transaction fees are based on network activity and the complexity of the transactions. These fees are paid by users conducting transactions on the network and are designed to cover the costs of processing transactions while incentivizing validators. Binance Smart Chain (BSC) uses the Proof of Staked Authority (PoSA) consensus mechanism to ensure network security and incentivize participation from validators and delegators. Incentive Mechanisms 1. Validators: Staking Rewards: Validators must stake a significant amount of BNB to participate in the consensus process. They earn rewards in the form of transaction fees and block rewards. Selection Process: Validators are selected based on the amount of BNB staked and the votes received from delegators. The more BNB staked and votes received, the higher the chances of being selected to validate transactions and produce new blocks. 2. Delegators: Delegated Staking: Token holders can delegate their BNB to validators. This delegation increases the validator's total stake and improves their chances of being selected to produce blocks. Shared Rewards: Delegators earn a portion of the rewards that validators receive. This incentivizes token holders to participate in the network\u2019s security and decentralization by choosing reliable validators. 3. Candidates: Pool of Potential Validators: Candidates are nodes that have staked the required amount of BNB and are waiting to become active validators. They ensure that there is always a sufficient pool of nodes ready to take on validation tasks, maintaining network resilience. 4. Economic Security: Slashing: Validators can be penalized for malicious behavior or failure to perform their duties. Penalties include slashing a portion of their staked tokens, ensuring that validators act in the best interest of the network. Opportunity Cost: Staking requires validators and delegators to lock up their BNB tokens, providing an economic incentive to act honestly to avoid losing their staked assets. Fees on the Binance Smart Chain 5. Transaction Fees: Low Fees: BSC is known for its low transaction fees compared to other blockchain networks. These fees are paid in BNB and are essential for maintaining network operations and compensating validators. Dynamic Fee Structure: Transaction fees can vary based on network congestion and the complexity of the transactions. However, BSC ensures that fees remain significantly lower than those on the Ethereum mainnet. 6. Block Rewards: Incentivizing Validators: Validators earn block rewards in addition to transaction fees. These rewards are distributed to validators for their role in maintaining the network and processing transactions. 7. Cross-Chain Fees: Interoperability Costs: BSC supports cross-chain compatibility, allowing assets to be transferred between Binance Chain and Binance Smart Chain. These cross-chain operations incur minimal fees, facilitating seamless asset transfers and improving user experience. 8. Smart Contract Fees: Deployment and Execution Costs: Deploying and interacting with smart contracts on BSC involves paying fees based on the computational resources required. These fees are also paid in BNB and are designed to be cost-effective, encouraging developers to build on the BSC platform.
S.6 Beginning of period to which disclosed information relates	date	2025-06-17
S.7 End of period to which disclosed information relates	date	2026-06-17
Mandatory key indicator
S.8 Energy consumption	energy (kWh)	168.61126
Sources and methodologies
S.9 Energy consumption sources and methodologies	textBlock	The energy consumption of this asset is aggregated across multiple components: To determine the energy consumption of a token, the energy consumption of the network Ethereum, Hyperliquid HyperEVM and BNB Smart Chain is calculated first. For the energy consumption of the token, a fraction of the energy consumption of the network is attributed to the token, which is determined based on the activity of the crypto-asset within the network. When calculating the energy consumption, the Functionally Fungible Group Digital Token Identifier (FFG DTI) is used - if available - to determine all implementations of the asset in scope. The mappings are updated regularly, based on data of the Digital Token Identifier Foundation. The information regarding the hardware used and the number of participants in the network is based on assumptions that are verified with best effort using empirical data. In general, participants are assumed to be largely economically rational. As a precautionary principle, we make assumptions on the conservative side when in doubt, i.e. making higher estimates for the adverse impacts.
Supplementary information on principal adverse impacts on climate and other environment-related adverse impacts of consensus mechanism
Supplementary key indicators
S.10 Renewable energy consumption	percent
S.11 Energy intensity	energy (kWh)
S.12 Scope 1 DLT GHG emissions - controlled	GHG emissions (tCO2e)
S.13 Scope 2 DLT GHG emissions - purchased	GHG emissions (tCO2e)
S.14 GHG intensity	GHG emissions (tCO2e)
Sources and methodologies
S.15 Key energy sources and methodologies	textBlock
S.16 Key GHG sources and methodologies	textBlock
Optional information on principal adverse impacts on the climate and on other environment-related adverse impacts of the consensus mechanism
Optional indicators
S. 17 Energy mix	percent
S.18 Energy use reduction
Energy use reduction target (absolute value)	energy (kWh)
Energy use reduction target (percentage)	percent
S.19 Carbon intensity (kgCO2e/kWh)	decimal
S.20 Scope 3 DLT GHG emissions - value chain	GHG emissions (tCO2e)
S.21 GHG emissions reduction targets or commitments	textBlock
S.22 Generation of waste electrical and electronic equipment (WEEE)	mass (tonnes)
S.23 Non-recycled WEEE ratio	percent
S.24 Generation of hazardous waste	mass (tonnes)
S.25 Generation of waste (all types)	mass (tonnes)
S.26 Non-recycled waste ratio (all types)	percent
S.27 Waste intensity (all types)	mass (tonnes)
S.28 Waste reduction targets or commitments (all types)	textBlock
S.29 Impact of use of equipment on natural resources	textBlock
S.30 Natural resources use reduction targets or commitments	textBlock
S.31 Water use	volume (m3)
S.32 Non recycled water ratio	percent
Sources and methodologies
S.33 Other energy sources and methodologies	textBlock
S.34 Other GHG sources and methodologies	textBlock
S.35 Waste sources and methodologies	textBlock
S.36 Natural resources sources and methodologies	textBlock