What is Onyxcoin?

Onyx is a blockchain-based protocol developed by Chain, a company that builds cloud and ledger infrastructure for financial applications. The protocol is designed to support the issuance, transfer, and management of digital assets for enterprises that need customizable and permissioned blockchain solutions. Onyx focuses on providing organizations with tools to build and operate asset networks, rather than functioning as an open, public smart-contract platform.

What is XCN?

The native token of the protocol is Onyxcoin (XCN), which operates on the Ethereum network. XCN functions as both a governance and utility token. Holders can use the token to participate in governance, stake XCN to earn rewards, and, in some cases, pay protocol-related fees. The token has a total supply of 48.4 billion units, with approximately 36.36 billion currently in circulation at the time of this publication.

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

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

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

Like all other crypto assets, there are some general risks to investing in XCN. 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 XCN. 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: December 9, 2025