What is Useless Coin?

Useless Coin is a meme-based cryptocurrency launched on the Solana blockchain, designed as a satirical critique of utility-driven cryptocurrencies. The project explicitly embraces its lack of utility, positioning itself as a parody of the crypto industry's focus on complex tokenomics and functional use cases. It falls within the broader meme coin category, where value is primarily driven by community engagement, social media attention, and market sentiment rather than underlying technology or infrastructure.

What is USELESS?

The native token of the protocol, USELESS, operates on the Solana network and serves as a meme and community token. It is primarily used for trading and participation in the broader meme coin market, with no defined utility such as governance, staking, or protocol-based functionality. The token has a total supply of 999.08 million units, with all 999.08 million USELESS 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 USELESS can be supported by Wealthsimple's platform, including whether USELESS is a security and/or a derivative and is being offered in compliance with securities and derivatives laws.

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

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

Like all other crypto assets, there are some general risks to investing in USELESS. 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 USELESS. 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: May 4, 2026