Unexpected market illiquidity may cause major losses to the holders of Yearn Finance. It may become difficult to execute a trade at a specific price when there is a relatively small volume of buy and sell orders in the marketplace, including on Yearn Finance trading platforms. You may not always be able to liquidate your Yearn Finance at a desired price. There are several other crypto assets in the decentralized lending space that could take a substantial part of the market and condemn Yearn Finance to trade at a certain price range that may impact the price. Loss of these private keys may be irreversible and could result in the loss of all or substantially all of the crypto assets held in trust by Coinberry. The loss or destruction of certain “private keys” (numerical codes required by Coinberry to access its Crypto Assets) could prevent Coinberry from accessing its Yearn Finance. Yearn Finance commits to high yields for its users through its decentralized lending platform these cannot be classified as certainties but possibilities and as with every investment this will ultimately affect the price of Yearn Finance. The risks of trading Yearn Finance are high as the decentralized finance sector is volatile and speculative which can lead to sharp and sudden movements in prices. ![]() The regulation of Yearn Finance continues to evolve in North America and within foreign jurisdictions, which may restrict the use of Yearn Finance or otherwise impact the demand for Yearn Finance. If these means of valuing Yearn Finance prove to be fundamentally flawed, then the market may undergo a repricing of Yearn Finance, which could have an adverse impact on its price. Just as oil is priced by the supply and demand of global markets, as a function of its utility to, for instance, power machines and create plastics, so too is Yearn Finance priced by the supply and demand of global markets for its own utility within remittances, B2B payments, time-stamping, etc. ![]() Its underlying value is driven by its store of value, means of exchange, unit of account, and the demand for Yearn Finance within those use cases. Yearn Finance represents a relatively new form of digital value that is still being digested by society. Risks Associated with Investing in Yearn Finance Underlying Value Risk Whether Yearn Finance has been classified as a security or a derivative by any Canadian jurisdiction or the jurisdiction with which Yearn Finance has the most significant connection Token available for custody with existing custodians Our due diligence included, but was not limited to, a review of the following: ![]() crypto assets that are lent in order to earn passive income) to the pools that in return earn the highest return for their holders.Ĭoinberry has performed due diligence with respect to Yearn Finance to satisfy itself as to the viability of offering it on the Platform. It is an automated yield farming protocol that searches the market for the best return opportunities, and then supplies pooled liquidity (i.e. ![]() Yearn Finance was launched in July 2020 by founder Andrei Cronje and is a decentralized asset management platform that has multiple uses such as liquidity provision, lending and insurance. Together with the Statement of Crypto Asset and Crypto Contract Risks, the provisions of which are incorporated herein, this Crypto Asset Statement, lists certain specified risks associated with Yearn Finance. The risks identified in this Crypto Asset Statement and in the Statement of Crypto Asset and Crypto Contract Risks may not be all of the risks related to the Crypto Assets and Crypto Contracts and there may be other additional unknown risks, that may exist. NO SECURITIES REGULATORY AUTHORITY IN CANADA OR ANY OTHER JURISDICTION HAS EXPRESSED AN OPINION ABOUT CRYPTO CONTRACTS OR ANY OF THE CRYPTO ASSETS MADE AVAILABLE THROUGH THE PLATFORM (as hereinafter defined), INCLUDING AN OPINION THAT THE CRYPTO ASSETS ARE NOT THEMSELVES SECURITIES AND/OR DERIVATIVES.Ĭoinberry is offering Crypto Contracts in reliance on a prospectus exemption contained in the exemptive relief decision Re Coinberry Limited dated August 19th 2021 . The statutory rights of action for damages and the right of rescission in section 130.1 of the Securities Act (Ontario) and similar legislation in the other provinces and territories of Canada would not apply in respect of a misrepresentation in this Crypto Asset Statement or the Statement of Crypto Asset and Crypto Contract Risks.
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