What is Mask Network (MASK)?
Mask Network is a blockchain-powered browser extension that brings decentralized features to social media platforms. It enables users to securely share encrypted messages, files, and conduct cryptocurrency transactions within their preferred social media networks, allowing them to regain control over their data and privacy. With support for decentralized finance transactions and decentralized identity solutions, Mask Network enhances security and user autonomy, offering a seamless integration of blockchain technology into everyday social media interactions.
What is MASK token?
MASK is an ERC-20 governance token on the Ethereum network that allows holders to participate in proposals to the Mask DAO. The Mask DAO governs the Mask Network, and holders may vote on decisions that impact the Mask Network and ecosystem. There is a maximum supply of 100 million units of MASK.
Before trading any crypto assets it is important to understand the risks. This overview is a starting point for you to perform your own research prior to investing in a crypto asset.
No securities regulatory authority or regulator in Canada has evaluated or endorsed the Crypto Contracts or any of the crypto assets made available through the platform.
Wealthsimple has performed an assessment of whether MASK can be supported by Wealthsimple’s platform, including whether MASK is a security and/or a derivative and is being offered in compliance with securities and derivatives laws.
We evaluated MASK based on publicly available information, including (but not limited to):
- The creation, governance, usage and design of MASK, including the source code, security and roadmap for growth in the developer community and, if applicable, the background of the developer(s) that first created MASK;
- The supply, demand, maturity, utility and liquidity of MASK;
- Material technical risks associated with MASK, including any code defects, security breaches and other threats concerning MASK 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 MASK, including any pending, potential, or prior civil, regulatory, criminal, or enforcement action relating to the issuance, distribution, or use of MASK; and
- Statements made by regulators or securities regulatory authorities in Canada and other jurisdictions regarding whether MASK, or generally about whether the type of crypto asset, is a security and/or a derivative.
Wealthsimple monitors ongoing developments related to crypto assets available on its platform for significant changes that may affect Wealthsimple’s original assessment of those assets, including Wealthsimple’s assessment of the application of securities and derivatives laws. Any significant changes relating to MASK may result in changes to this Crypto Asset Statement and/or Wealthsimple’s ability to support MASK.
Like all other crypto assets, there are some general risks to investing in MASK. These include short history risk, volatility risk, liquidity risk, demand risk, forking risk, cryptography risk, regulatory risk, concentration risk, electronic trading risk and cyber security risk. Please review the Wealthsimple Crypto Product Risk Disclosure for additional discussion of general risks associated with the crypto assets made available through the platform.
We emphasize that this Crypto Asset Statement is not exhaustive of all risks associated with trading MASK. Investors should perform their own assessment to determine the appropriate level of risk for their personal circumstances.
Wealthsimple is offering Crypto Contracts in reliance on a prospectus exemption contained in the exemptive relief decision Re Wealthsimple Investments Inc. dated December 18, 2023 (the Decision).
The statutory rights of action for damages and rescission in section 130.1 of the Securities Act (Ontario), and, if applicable, similar statutory rights under securities legislation of other jurisdictions of Canada, do not apply in respect of this Crypto Asset Statement to the extent a Crypto Contract is distributed under the prospectus relief in the Decision.
Last updated: January 1, 2024