What is My Neighbour Alice?

My Neighbor Alice is a multiplayer builder-game that leverages blockchain technology, enabling players to own virtual islands and build various items within a vibrant, interactive environment. The game is developed by Antler Interactive and combines traditional gaming elements with innovative blockchain features such as digital ownership of assets as non-fungible tokens (NFTs), decentralized finance (DeFi), and a decentralized autonomous organization (DAO) for community governance. Players engage in various 'play-to-earn' activities, enhancing both the social and economic dimensions of the game.

The in-game currency, the ALICE token, is used for purchasing assets, staking for rewards, and governance participation. Although ALICE exists as an ERC-20 token on Ethereum, its in-game utility is currently exclusive to ALICE on the BNB Chain, due to the latter's favorable transaction speeds and costs. This dual-chain deployment ensures broad accessibility across major blockchain networks while optimizing in-game transactions and interactions on the BNB Chain. Players looking to use ALICE within the game need to ensure they operate with the BNB Chain version, often necessitating a transfer via blockchain bridge from Ethereum.

What is ALICE?

The ALICE token is the proprietary digital currency for My Neighbor Alice, a blockchain-enabled multiplayer game. It has a capped total supply of 100 million tokens. Within the game's ecosystem, ALICE functions as the medium for transactions including the purchase of virtual lands and items, and it enables participation in the game’s governance through a decentralized autonomous organization (DAO). Players can also stake their tokens to earn rewards. While ALICE exists as an ERC-20 token on the Ethereum blockchain for broader ecosystem compatibility, it must be on the BNB Chain to be used within the game due to the chain’s lower transaction costs and faster processing times. This dual-chain approach facilitates the token's use across different blockchain environments while maintaining efficiency for in-game activities.

Please note that Wealthsimple currently only supports the ERC-20 ALICE token.

Risk statement

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 ALICE can be supported by Wealthsimple’s platform, including whether ALICE is a security and/or a derivative and is being offered in compliance with securities and derivatives laws.

We evaluated ALICE based on publicly available information, including (but not limited to):

• The creation, governance, usage and design of ALICE, 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 ALICE;
• The supply, demand, maturity, utility and liquidity of ALICE;
• Material technical risks associated with ALICE, including any code defects, security breaches and other threats concerning ALICE 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 ALICE, including any pending, potential, or prior civil, regulatory, criminal, or enforcement action relating to the issuance, distribution, or use of ALICE; and
• Statements made by regulators or securities regulatory authorities in Canada and other jurisdiction regarding whether ALICE, 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 ALICE may result in changes to this Crypto Asset Statement and/or Wealthsimple’s ability to support ALICE.

Like all other crypto assets, there are some general risks to investing in ALICE. 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 ALICE. 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: November 18, 2024