MiCAR Whitepaper
Ancient8 MiCAR White Paper
IN ACCORDANCE WITH
TITLE II OF REGULATION (EU) 2023/1114
Table of Contents
01. Date of Notification: 2025-08-18
Regulatory Disclosures
02. Statement in accordance with Article 6(3) of Regulation (EU) 2023/1114:
This crypto-asset white paper has not been approved by any competent authority in any Member State of the European Union. The person seeking admission to trading of the crypto-asset is solely responsible for the content of this crypto-asset white paper.
03. Compliance statement in accordance with Article 6(6) of Regulation (EU) 2023/1114
This crypto-asset white paper complies with Title II of Regulation (EU) 2023/1114 and, to the best of the knowledge of the management body of Ancient8, the information presented in the crypto-asset white paper is fair, clear and not misleading and the crypto-asset white paper makes no omission likely to affect its import.
04. Statement in accordance with Article 6(5), points (a), (b), (c):
The crypto-asset referred to in this white paper may lose its value in part or in full, may not always be transferable and may not be liquid.
05. Statement in accordance with Article 6(5), point (d):
The utility token referred to in this white paper may not be exchangeable against the good or service promised in the crypto-asset white paper, especially in the case of a failure or discontinuation of the crypto-asset project.
06. Statement in accordance with Article 6(5), points (e) and (f):
The crypto-asset referred to in this white paper is not covered by the investor compensation schemes under Directive 97/9/EC of the European Parliament and of the Council. The crypto-asset referred to in this white paper is not covered by the deposit guarantee schemes under Directive 2014/49/EU of the European Parliament and of the Council.
Summary
07. Warning:
This summary should be read as an introduction to the crypto-asset white paper. The prospective holder should base any decision to purchase this crypto-asset on the content of the crypto-asset white paper as a whole and not on the summary alone. The offer to the public of this crypto-asset does not constitute an offer or solicitation to purchase financial instruments and any such offer or solicitation can be made only by means of a prospectus or other offer documents pursuant to the applicable national law. This crypto-asset white paper does not constitute a prospectus as referred to in Regulation (EU) 2017/1129 of the European Parliament and of the Council (36) or any other offer document pursuant to Union or national law.
08. Characteristics of the Crypto-Asset The $A8 token is the native utility token of the Ancient8 ecosystem, a gaming-focused Ethereum Layer 2. As an ERC-20 token, it grants holders the right to participate in project governance, stake their tokens to earn rewards, and use it for transaction fees on the Ancient8 chain. These rights are subject to the network's protocols and may be modified through the established governance process.
09. Utility Token Summary The $A8 is the utility token provides access to the Ancient8 ecosystem's services, including its Layer 2 blockchain, the SuperApp, and various developer tools. The token is freely transferable on the Ethereum network and supported exchanges, subject to the terms of service of those platforms and applicable regulations.
10. Key Information About the Admission to Trading The $A8 token is seeking admission to trading on Bitvavo B.V., a regulated crypto-asset exchange based in the Netherlands. This provides a liquid and accessible market for the token, supported by a well-established trading platform.
A. Information about the Person Seeking Admission to Trading
A.1 Name: Metaplay8 Limited
A.2 Legal Form: 6EH6
A.3 Registered address: 2nd Floor, Ellen L. Skelton Building, Fishers Lane, Road Town, Tortola, British Virgin Islands, VG 1110
A.4 Head office: 38D Lam Son, ward 2, Tan Binh district, Ho Chi Minh City, 70000, VN
A.5 Registration Date: 2021-12-19
A.6 Legal entity identifier: N/A
A.7 Another identifier required pursuant to applicable national law: 2086393
A.8 Contact telephone number: +84 868616118
A.9 E-mail address: [email protected]
A.10 Response Time (Days): 004
A.11 Parent Company: N/A
A.12 Members of the Management body:
Name
Business Function
Business Address
Persis Khadine Manfred Sarmiento
Director
2nd Floor, Ellen L. Skelton Building, Fishers Lane, Road Town, Tortola, British Virgin Islands, VG 1110
A.13 Business Activity: Investment holding company
A.14 Parent Company Business Activity: N/A
A.15 Newly Established: false
A.17 Financial condition since registration:
We incorporated on 20 December 2021 and have since demonstrated steady growth in line with the development of our products, token economy, and strategic roadmap.
Year 1: 20 December 2021 – 31 December 2022
- The company’s first year focused on foundational activities, including corporate setup, team formation, and the early development of its core product infrastructure. Revenue during this period was minimal, as operations were pre-revenue and supported by initial seed capital and/or early token funding.
- Key Activities: building community, building the company's foundations, establishing relevant departments
- Capital Resources: Successfully raised $10 million from well-known investment funds in the market: + In January 2022, Ancient8 successfully raised $4M in seed round financing, led by Dragonfly Capital, Pantera Capital, and Hashed. Ancient8 also received strategic backing from Mechanism Capital, Coinbase Ventures, Alameda Research, Coin98 Ventures, Kyros Ventures, Raydium, Jump Capital, GuildFi, Impossible Finance, Animoca Brands, Mirana Ventures (Venture Partner of Bybit and BitDAO), Chromia, Sipher, Smrti Lab, Folius Ventures, PANONY, Shima Capital and SkyVision Capital.
+ In June 2022, Ancient8 is delighted to report our successful raising of an additional $6M in a private round of financing led by Makers Fund, with participation from existing and new investors Pantera Capital, 6th Man Ventures, IOSG Ventures, Folius Ventures, Morningstar Ventures, Sky9 Capital, Th3ia Capital, Play Ventures, Mirana Ventures (Venture Partner of Bybit and BitDAO), Sanctor Capital, DWeb3, IBA, Richard Ma, K300 Ventures, GFS Ventures, HC Ventures, Playgrnd Ventures, Cozomo de’ Medici, Astrapto Capital among others.
- KPIs: Team expansion from 0 to 20 full-time employees, establish key teams such as guild operation, marketing, development, design, HR
Year 2: 1 January 2023 – 31 December 2023
-Leveraging the network of Ancient8 in Web3 Gaming and its user acquisition skill, Ancient8 launched Space3, Dojo and Reneverse as the growth protocol layers, running user acquisition for 100+ top-tier Web3 gaming entities while achieving our goal of accumulating 1M Web3 users via our credential system.
- Revenue: During this period, user acquisition was the core target for Ancient8 before it published Ancient8 L2. Hence, the revenue derived was spent and incentivize gamers mostly.
- Key Milestones: Published our growth protocols for Web3 Gaming and achieved 1M Web3 users across all platforms.
- Material Changes: Due to the expansion of scale and increase in core values, the company's operating costs increased significantly during this time.
- Capital Resources: Maintained and adjusted appropriate capital to sustain the company, and prepared capital for the following expansion years.
Year 3: 1 January 2024 – 31 December 2024
- This was an extremely important year for the company. It was the year that we would launch the A8 chain and TGE the A8 token, as well as have innovation in the development of the company.
- Revenue: After launching the A8 chain testnet, mainnet and launching the token, we had a certain amount of revenue from onchain transactions, protocol fees gathered from our growth protocol, NFT marketplace, AMM fees, etc.
- Non-Financial KPIs:
+ Total active onchain users: 1.75M active onchain users
+ Transaction Volume: $A8 maintains $2-3M accumulated volume in daily average
+ Number of smart contract deployed: 5600 contracts
+ Builders and projects building on Ancient8 Mainnet: 100+ projects with 20+ games
- Material Events: Testnet V1, Testnet V2 and Mainnet launch, 1st batch of Web3 Games launch on Ancient8, A8 token launch, smart contract upgrades alongside Ethereum Foundation and Optimism Superchain upgrades
- Capital Resources: maintained revenue after token launch, adjusted costs, cut unnecessary costs, and increased additional revenue from quality products.
Interim Period: 1 January 2025 – May 2025
- In early of 2025, we applied and successfully received 500,000 $OP tokens granted from Optimism Foundation to expand Ancient8 L2 Ecosystem. Ancient8 has leveraged the grant to onboarded 5 high value projects building on Ancient8 during the 1st season. As of now, continue to focus on MiCAR compliance, infrastructure optimization, and costs. Always ready to list on a larger exchange in the market.
- Key Developments:
+ Completion of MiCAR whitepaper draft
+ Engagement with EU-based legal and compliance consultants
+ Technical upgrades for Ethereum Pectra and Optimism new technologies
+ Deployed SuperchainERC20 protocols on Mainnet and successfully run Superchain interop on Devnets
+ Expanded Ancient8 projects onto other ecosystems under the Superchain, getting ready to expand immediately once the Superchain is live
- Cash Flows: Net burn rate of $140,000 per month; runway of 17 months as of May 2025.
- Material Events: new partnerships, product expansions, A8 chain improvement.
B. Information about the issuer, if different from the offeror or person seeking admission to trading
B.1 Issuer Information: false, the offeror and entity are the same, so this section is not applicable
B.2 Name: N/A
B.3 Legal Form: N/A
B.4 Registered address: N/A
B.5 Head office: N/A
B.6 Registration Date: N/A
B.7 Legal entity identifier: N/A
B.8 Another identifier required pursuant to applicable national law: N/A
B.9 Parent Company: N/A
B.10 Members of the Management Body: N/A
B.11 Business Activity: N/A
B.12 Parent Company Business Activity: N/A
C. Information about the operator of the trading platform in cases where it draws up the crypto-asset white paper and information about other persons drawing the crypto-asset white paper pursuant to Article 6(1), second subparagraph, of Regulation (EU) 2023/1114
C.1 Name: N/A, This section is not applicable, as neither the operator of a trading platform nor any other person, apart from the issuer, has drawn up or contributed to the preparation of the crypto-asset white paper.
C.2 Legal Form: N/A
C.3 Registered address: N/A
C.4 Head office: N/A
C.5 Registration Date: N/A
C.6 Legal entity identifier of the operator of the trading platform: N/A
C.7 Another identifier required pursuant to applicable national law: N/A
C.8 Parent Company: N/A
C.9 Reason for Crypto-Asset White Paper Preparation: N/A
C.10 Members of the Management body: N/A
C.11 Operator Business Activity: N/A
C.12 Parent Company Business Activity: N/A
C.13 Other persons drawing up the crypto- asset white paper according to Article 6(1), second subparagraph, of Regulation (EU) 2023/1114: N/A
C.14 Reason for drawing the white paper by persons referred to in Article 6(1), second subparagraph, of Regulation (EU) 2023/1114: N/A
D. Information about the Crypto-Asset Project
D.1 Crypto-asset project name: Ancient8
D.2 Crypto-assets name: Ancient8
D.3 Abbreviation: $A8
D.4 Crypto-asset project description: Ancient8 is building a gaming focused ETH Layer2 chain on the Optimism Superchain. We offer an ecosystem of Web3 gaming infrastructure tools that serve as the distribution and marketing channel for games globally on Ancient8 Mainnet and Superchain Ecosystem. Ancient8 is developing a comprehensive ecosystem of gaming products that offer game studios the essential infrastructure to build, grow, and monetize their games. Ancient8 creates the ultimate playground where players can enjoy and own their gaming experiences. Players benefit from a variety of incentives, including high-quality gameplay, a community-driven economy, daily game quest rewards, gaming guild scholarships, and revenue sharing from advertisements.
D.5 Details of all natural or legal persons involved in the implementation of the crypto-asset project:
Name
Business Function
Business Address
Meta8 Foundation
Formal issuer of the A8 token
11th Floor, Dresdner Tower, Obarrio, Panama City, Republic of Panama
Metaplay8 Limited
Party offering rights to receive tokens under the SAFT. Although it is not the formal token issuer, it entered into SAFT agreements with purchasers and may hold and distribute tokens granted to it by the Meta8 Foundation.
2nd Floor, Ellen L. Skelton Building, Fishers Lane, Road Town, Tortola, British Virgin Islands, VG 1110
Metacyber8 Limited
Hold tokens allocated to the team, advisors, ecosystem fund, and treasury, and may enter into service agreements (e.g., with market makers or exchanges) to support product development and liquidity initiatives.
2nd Floor, Ellen L. Skelton Building, Fishers Lane, Road Town, Tortola, British Virgin Islands, VG 1110
Nguyen Trung Thuat
Real beneficial owner and decision-maker, overseeing token creation, strategy, and operations
HCMC, Vietnam
Nguyen Tan Dat
Ecosystem Lead
HCMC, Vietnam
Tran Thi Hoang Anh
Branding Lead
HCMC, Vietnam
Hoàng Thanh Tùng
TechLead
Hanoi, Vietnam
Synergy Consulting
Legal Advisor and partner
Sheung Wan, Hong Kong
Flow Traders
Market maker
St. Helier, Jersey
Verichains
Auditing Service
HCMC, Vietnam
D.6 Utility Token Classification: true
D.7 Key Features of Goods/Services for Utility Token Projects:
Ancient8 Core Products:
- Ancient8 Layer 2: Built on top of OP Stack, allowing other developers to build dApps, Games and Infrastructure, leveraging highest speed, low gas fee and decentralization from Ethereum L1 infra. Currently, there are 100+ builders building on the Ancient8 Mainnet
- Ancient8 SuperApp: Built for users to seamlessly experience the Ancient8 Ecosystem, an all-in-one hub for activities including Token, NFT, Staking, Game/dApp Discovery
- Ancient8 Growth Tools: Built to help acquiring gamers and users retention for new games on Ancient8 Mainnet as well as all games in the Web3 landscape
- Ancient8 Co-publishing Games: Ancient8 supports the infrastructure and technology for incubating teams to publish and grow their dApps / Games
D.8 Plans for the token:
Expand utilities
Increase value for holders and stakers
Expand the number of holders via onboarding web2 users and
Diversify available chains
Expand the availability of $A8 on new exchanges
Involve more valuable builders in participating in the decentralized governance of $A8
D.9 Resource Allocation:
Financial Resources:
Budget: Ancient8 has raised $10M in total financing from leading investors including Pantera, Dragonfly, Hashed, Makers Fund, Mechanism, Coinbase, IOSG, Jump and Animoca.
Grant: Ancient8 has successfully received 500,000 $OP tokens for incentivizing the Ancient8 Ecosystem and onboarding more projects to build on Ancient8 and Superchain Ecosystem
Future Funding: Additional funds may be raised in the future, subject to market conditions and regulatory approval. A reserve fund ensures continuity if funding goals are not met
Technological Resources:
Blockchain Infrastructure: The Ancient8 Layer 2 is built on Ethereum with OP Stack (Layer 2 for scalability), leveraging ERC-20 standards for $A8 on Ethereum Mainnet and Ancient8 Mainnet
Development Tools: The team uses industry-standard tools, including Solidity for smart contracts, Thirdweb for smart contracts library, etc.
Security: Regular audits by Verichains and multi-signature wallets ensure platform integrity
Partnerships: Collaboration with Verichains for security monitoring of Ancient8 Layer 2 and its Ecosystem partners
Network and Collaborations:
Vietnam Market: The team has experience and advanced networking with communities, projects, ventures across the globe and especially in SEA and Vietnam market
KOL and content creators: Ancient8 has accumulated the network of KOLs and creators since 2021, facilitating the user acquisition and brand exposure of Ancient8 Ecosystem projects
D.10 Planned Use of Collected Funds or Crypto-Assets:
Product development and engineering (smart contracts, app features, infrastructure) - ~20%
Marketing and community growth (campaigns, partnerships, KOLs) - ~10%
Legal, compliance - ~5%
Operations and team salaries - ~50%
Treasury reserve for future initiatives or downturns - ~10%
Security audits and external technical support - ~5%
E. Information about the Admission to Trading
E.1 Public Offering or Admission to trading: ATTR
E.2 Reasons for Public Offer or Admission to trading: The primary reason for the public offering and admission to trading is to increase the accessibility and liquidity of the token, enabling broader participation in the project ecosystem. The earnings will be used to support ongoing product development, ecosystem expansion. Additionally, trading on a regulated platform will enhance transparency and allow token holders to engage in governance and utility-based functions.
E.3 Fundraising Target: N/A
E.4 Minimum Subscription Goals: N/A
E.5 Maximum Subscription Goal: N/A
E.6 Oversubscription Acceptance: N/A
E.7 Oversubscription Allocation: N/A
E.8 Issue Price: N/A
E.9 Official currency or any other crypto- assets determining the issue price: N/A
E.10 Subscription fee: N/A
E.11 Offer Price Determination Method: N/A
E.12 Total Number of Offered/Traded Crypto- Assets: 1
E.13 Targeted Holders: ALL
E.14 Holder restrictions: The key restrictions are as follows: European Economic Area (EEA):
The tokens are intended to be offered, marketed, and admitted to trading on regulated exchanges within the EEA, where it may be accessed and held by retail and professional investors.
No public offering requiring a prospectus under the Regulation (EU) 2017/1129 has been or will be made. Purchasers must ensure their own compliance with local laws. Any future marketing of the token within the EEA will comply with MiCAR requirements and applicable national regulations.
United Kingdom:
The tokens may only be offered to or held by investment professionals, certified sophisticated investors, or other legally eligible categories as defined in the Financial Promotion Order (FPO).
United States, China, Vietnam and other restricted jurisdictions:
Purchasers and holders domiciled in the United States or the People’s Republic of China (excluding Hong Kong, Macau, and Taiwan) or Vietnam are strictly excluded from acquiring or holding the tokens.
Offers and sales will not be made in these jurisdictions under any circumstances.
Other Jurisdictions: In jurisdictions such as Australia, Hong Kong, Singapore, South Korea, Taiwan, Switzerland, Germany, and France, tokens may only be offered or held in accordance with applicable private placement or professional investor exemptions. It is the responsibility of the purchaser to comply with local laws. General KYC/AML Requirements:
All purchasers must complete Know Your Customer (KYC) and Anti-Money Laundering (AML) verification prior to receiving tokens.
We reserve the right to restrict access to individuals or entities who fail to meet compliance or eligibility checks.
Age and Wallet Requirements:
Holders must be at least 18 years old.
Tokens must be held in non-custodial wallets that are compatible with the supported blockchain standards (e.g., ERC-20 wallets for Ethereum-based tokens).
E.16 Refund Mechanism: N/A
E.17 Refund Timeline: N/A
E.18 Offer Phases: N/A
E.19 Early Purchase Discount: N/A
E.20 Time-limited offer: N/A
E.21 Subscription period beginning: N/A
E.22 Subscription period end: N/A
E.23 Safeguarding Arrangements for Offered Funds/Crypto-Assets: N/A
E.24 Payment Methods for Crypto-Asset Purchase:
SEPA Bank Transfer: A free and widely used method across Europe. Transfers typically take 1–2 business days to process.
iDEAL: A popular instant payment method for users with Dutch bank accounts. Deposits are processed immediately and free of charge.
Bancontact: Available for Belgian users, allowing quick and secure payments.
Sofort: Supported in several European countries. While deposits are credited instantly, withdrawals are temporarily restricted for 1–3 business days until the payment is fully processed.
PayPal: Users can deposit funds via PayPal, provided the PayPal account details match the Bitvavo account information. There is a deposit limit of €10,000 through this method.
Credit Card (Visa & Mastercard): Bitvavo accepts deposits from Visa and Mastercard credit cards. Note that Maestro and business credit cards are not supported. Deposits are subject to a maximum limit of €10,000.
Giropay: A German online payment method that allows for instant deposits.
EPS: An Austrian payment solution enabling immediate fund transfers.
E.25 Value Transfer Methods for Reimbursement: Reimbursement, where applicable, will be made in USDT or USDC stablecoins via the ERC-20 standard on the Ethereum network. Refunds will be transferred to the KYC-verified wallet address originally used for the token purchase, unless otherwise agreed in writing. Reimbursements may be subject to gas fees, which will either be deducted from the refund amount or must be paid by the recipient in advance. In certain cases (e.g., fiat purchase via exchange), reimbursement may be coordinated through the original trading platform or processed via SEPA bank transfer to a verified account, depending on the source of funds and applicable laws.
E.26 Right of Withdrawal: N/A
E.27 Transfer of Purchased Crypto-Assets: $A8 is an ERC-20 token issued on the Ethereum blockchain, utilizing Ethereum’s Proof of Stake (PoS) consensus mechanism. After purchasing $A8 on the Bitvavo exchange, holders can transfer their tokens to external wallets or other addresses, subject to Bitvavo’s operational and security protocols. Below is an overview of the transfer process, associated costs, and environmental considerations, in line with MiCAR disclosure requirements. Transfer Process on Bitvavo
Purchase and Custody: Upon purchasing $A8 on Bitvavo, the tokens are credited to the user’s Bitvavo wallet, securely stored under Bitvavo’s custody framework, which is registered with De Nederlandsche Bank (DNB) and authorized under MiCAR by the Dutch Authority for the Financial Markets (AFM).
Withdrawal to External Wallets: To transfer $A8 to an external Ethereum-compatible wallet, users must:
Enable crypto withdrawals in their Bitvavo account settings and add the external wallet address to their address book for security.
Select $A8 in the Bitvavo app or web interface, choose “Withdraw,” specify the destination address, confirm the Ethereum network, and enter the desired amount.
Review and confirm the transaction, which is subject to a 24-hour security hold if recent account changes (e.g., password reset, 2FA reset) have occurred.
Network Confirmation: Transfers are processed on the Ethereum blockchain and typically arrive within two hours, depending on network congestion. Users are advised to verify the recipient address carefully, as blockchain transactions are irreversible.
Restrictions: Bitvavo prohibits transfers to third-party wallets not owned by the user or to another Bitvavo account, in line with transaction monitoring policies to prevent fraud or money laundering.
Network and Fees
Ethereum Network: $A8 transfers occur exclusively on the Ethereum network, as Bitvavo does not support alternative networks (e.g., BNB Smart Chain) for Ethereum-based assets like $A8. Users must ensure the recipient wallet supports Ethereum to avoid loss of funds.
Transaction Fees: Transfers incur Ethereum network gas fees, paid to validators, which vary based on network demand and transaction complexity. These fees are independent of Bitvavo’s operations. Bitvavo itself charges competitive trading fees (0.00%–0.25%), which may apply to the initial purchase but not to withdrawals.
E.28 Transfer Time Schedule: N/A
E.29 Purchaser's Technical Requirements: Purchasers are required to have access to a non-custodial, EVM-compatible wallet (e.g., MetaMask, Trust Wallet, Ledger) to hold and manage the purchased tokens. The token is deployed on the Ethereum blockchain (ERC-20 standard), and users must retain control of their private keys to access their holdings. To perform token transfers or interactions, purchasers may also require a minimal balance of ETH to cover network gas fees. The project’s claim interface, if applicable, is accessible via Web3-enabled browsers (e.g., Chrome or Firefox with MetaMask) and may not be fully supported on mobile-only environments or legacy browsers.
E.30 Crypto-asset service provider (CASP) name: N/A
E.31 CASP identifier: N/A
E.32 Placement form: N/A
E.33 Trading Platforms name: Bitvavo B.V. (Netherlands)
E.34 Trading Platforms Market Identifier Code (MIC): VAVO
E.35 Trading Platforms Access: Investors can access the trading platforms by registering on the exchange’s official website or mobile application. For example, Bitvavo can be accessed via www.bitvavo.com or its mobile app (available on iOS and Android). To begin trading, investors must: - Create an account and complete KYC/AML verification - Deposit fiat (e.g., EUR via SEPA) or supported crypto-assets -Use the trading interface to buy or sell the token Access may be restricted in certain jurisdictions due to regulatory constraints, and users must comply with the exchange’s terms and applicable laws.
E.36 Involved costs: Accessing the trading platforms may involve the following costs, depending on the exchange: - Trading fees: A maker/taker fee is typically charged on each transaction. For example, Bitvavo charges between 0.03% and 0.25%, depending on trading volume. - Deposit and withdrawal fees: + Fiat deposits via SEPA are generally free or low-cost. + Crypto withdrawals may incur a fixed fee (e.g., 0.001 ETH), depending on network conditions. - Network (gas) fees: When withdrawing tokens to an external wallet, users may need to pay blockchain transaction fees, particularly on Ethereum or other L1 networks. No account opening or subscription fees are typically required to access the platform.
E.37 Offer Expenses: N/A
E.38 Conflicts of Interest: As of the date of this whitepaper, the Company has not identified any undisclosed material conflicts of interest that could adversely affect the integrity of the offering or listing process. The Company will continue to monitor and disclose any conflicts in accordance with its obligations under MiCAR.
E.39 Applicable law: The A8 crypto-assets are legally governed by the laws of the British Virgin Islands, including relevant company, contract, and common law principles. The technical functionality is defined by the Ethereum protocol and Layer 2 blockchain standards. When offered or traded within the European Union, A8 tokens shall comply with Regulation (EU) 2023/1114 on Markets in Crypto-Assets (MiCAR), along with any applicable national laws of EU Member States in areas not fully harmonized, such as taxation, civil liability, and consumer protection. Where personal data is processed, GDPR compliance will be ensured. Where required, the issuer and its partners will also adhere to applicable AML/CTF regulations within the EU.
E.40 Competent court: Any legal disputes arising in connection with the crypto-asset shall fall under the jurisdiction of the courts of the British Virgin Islands, unless otherwise required by overriding provisions of EU law.
F. Information about the Crypto-Assets
F.1 Crypto-Asset Type: $A8 is an ERC-20 token designed to be the lifeblood of the Ancient8 ecosystem. With a total supply capped at 1,000,000,000 tokens, the token's design is intended to ensure robust community engagement while fostering a thriving ecosystem. This framework not only allows for seamless transactions but also incentivizes participation in our community. The $A8 token is currently live on Ethereum Mainnet and Ancient8 Mainnet as per below info: - Contract address on Ethereum Mainnet: 0x3e5a19c91266ad8ce2477b91585d1856b84062df - Contract address on Ancient8 Mainnet: 0xD812d616A7C54ee1C8e9c9CD20D72090bDf0d424
F.2 Crypto-Asset Functionality:
$A8 is the heart of the Ancient8 ecosystem with a dynamic range of use cases for driving engagement, innovation, and ownership within the Ancient8 Chain.
Governance
Token holders play a vital role in shaping the direction of Ancient8 Ecosystem. Through decentralized governance, token holders and stakers can propose and vote for important decisions.
In-Game / Product Utilities
$A8 serves as a medium for various in-game and product-related transactions, including:
NFT Minting: Users can mint unique NFTs, contributing to the vibrant digital asset ecosystem within Ancient8.
In-Game Purchases: Players can utilize $A8 for various in-game transactions, enhancing their gaming experience and seamless interacting with other games or applications under the Ancient8 and Superchain Ecosystem.
Product Subscriptions on Ancient8 Chain: Access exclusive features and content by subscribing using $A8.
Exclusive Access
Owning $A8 provides token holders with exclusive access to:
Events: Participation in special events.
Early Releases: Be the first to experience new products or features.
Product-Specific Content: Access tailored content designed for $A8 holders.
Value Capture
As the Ancient8 Chain expands, it aims to sustainably benefit $A8 holders, providing value and utility as the ecosystem grows.
Staking
Staking $A8 offers various rewards and benefits, including:
Diverse Staking Point Usages: Flexibility in how staked points can be used within the ecosystem.
Recognition of Contributors: Allow contributors more power and in-game benefits when participating in the Ancient8 ecosystem.
Premium In-Game Perks: Enhance the gaming experience through exclusive in-game advantages.
Prioritized Launch Access: Early access to new launches and products.
F.3 Planned Application of Functionalities:
All of the utilities of the $A8 as mentioned above have been executed since the $A8 TGE (Token Generation Event) in July 2024: - NFT Minting: $A8 stakers and holders participated in the NFT launch of Space3 Genesis NFT, Pirate Clash NFT and Stellar Forger NFT
- In-app Purchases: $A8 is primarily available for in-app purchases of most dApps and Games in the Ancient8 Ecosystem such as Stellar Forger, HoneyBeach, ZoneNine, Very.fun, etc.
- Primary Liquidity Token: $A8 is already utilized as primary liquidity token for new project tokens being launched on the Very.fun platform as well as Ancient8 Swap (Ancient8 Native AMM)
- Staking: $A8 staking has been activated since our TGE
- In the upcoming time, we expect more utilities for $A8 token especially on the Ancient8 Mainnet with 20+ games / dapps going to launch on the Ancient8 Mainnet
F.4 Type of white paper: OTHR
F.5 The type of submission: NEWT
F.6 Crypto-Asset Characteristics:
Token name: Ancient8
Ticker symbol: $A8
Token standard: ERC-20
Total supply: 1,000,000,000
Contract address on Ethereum Mainnet: 0x3e5a19c91266ad8ce2477b91585d1856b84062df
Contract address on Ancient8 Mainnet: 0xD812d616A7C54ee1C8e9c9CD20D72090bDf0d424
$A8 Token Allocation: Fueling Sustainable Growth
The strategic allocation of $A8 tokens is crucial for fostering a balanced and thriving ecosystem. Here’s a breakdown of how the total supply is allocated:
32% Community & Ecosystem: This significant portion is dedicated to community initiatives, rewards, and ecosystem growth. By prioritizing the community, we ensure active participation and engagement from the outset.
10% Seed Round: Early investors who believe in the potential of Ancient8 are rewarded with a portion of tokens that help kickstart the project.
6% Private Round: Similar to the seed round, this allocation supports select investors who provide initial funding for development.
20% Team: To align the interests of the team with the long-term success of the project, a substantial allocation is set aside for team members.
2% Advisor: Advisors play a crucial role in guiding Ancient8, and this allocation ensures their expertise is recognized and valued.
5% Public Distribution: This portion facilitates a wider distribution of tokens to the public, encouraging broader participation in our ecosystem.
10% Liquidity: A portion is reserved to provide liquidity on exchanges, ensuring smooth trading and price stability for $A8.
15% Treasury: This allocation acts as a financial buffer to support future developments and unforeseen challenges.
F.7 Commercial name or trading name: Ancient8
F.8 Website of the issuer: https://www.ancient8.gg/
F.9 Starting date of offer to the public or admission to trading: 2025-08-18 (tentative)
F.10 Publication date: 2025-08-18
F.11 Any other services provided by the issuer:
Ancient8 Core Products: - Ancient8 Layer 2
- Ancient8 SuperApp
- Ancient8 Growth Tools
- Ancient8 Co-publishing Games
F.12 Language or languages of the white paper: English
F.13 Digital Token Identifier Code used to uniquely identify the crypto-asset or each of the several crypto assets to which the white paper relates, where available: N/A
F.14 Functionally Fungible Group Digital Token Identifier, where available: N/A
F.15 Voluntary data flag: true
F.16 Personal data flag: true
F.17 LEI eligibility: true
F.18 Home Member State: NL
F.19 Host Member States: AT, BE, BG, HR, CY, CZ, DK, EE, FI, FR, DE, EL, HU, IE, IT, LV, LT, LU, MT, PL, PT, RO, SK, SI, ES, SE
G. Information on the rights and obligations attached to the crypto-assets
G.1 Purchaser Rights and Obligations:
Purchasers of the crypto-asset have the right to:
Receive and hold the token in a compatible wallet
Transfer, trade, or use the token for its intended functionality (e.g., platform access, governance)
Participate in governance proposals, if applicable, according to the smart contract or platform rules
Purchasers are obligated to:
Complete all applicable KYC/AML procedures prior to purchasing or receiving tokens
Ensure compliance with local laws and any jurisdictional restrictions
Maintain secure custody of their wallet credentials and tokens
Refrain from using the token for unlawful or unauthorized purposes
Bear any transaction fees (e.g., blockchain gas costs) incurred during use
G.2 Exercise of Rights and obligations:
Transfer of Tokens: Tokens can be transferred freely via any ERC-20-compatible wallet, subject to gas fees and compliance with applicable laws.
Utility Access: If the token grants access to platform features (e.g., staking, rewards, game mechanics), the purchaser must connect their verified wallet to the official dApp interface and follow the on-screen procedures. Some features may require a minimum token balance.
Governance Rights: For tokens with governance functions, token holders can vote on proposals through the designated governance portal (e.g., Snapshot or on-chain contract). Participation may require holding a minimum number of tokens and connecting a Web3 wallet.
G.3 Conditions for modifications of rights and obligations: Purchasers must ensure they meet all applicable KYC/AML verification, jurisdictional eligibility, and technical compatibility requirements before exercising any rights associated with the crypto-asset. The issuer reserves the right to modify, restrict, or suspend access to such rights as necessary to maintain compliance with regulatory obligations or to address technical or security concerns.
G.4 Future Public Offers: The issuer intends to expand the accessibility of the crypto-asset by seeking admission to trading on additional regulated trading platforms in the future. These listings will be for secondary market trading purposes only and will not involve any new issuance or public offering of additional tokens. Any future listings will be executed in compliance with applicable legal, regulatory requirements, and platform-specific onboarding obligations.
G.5 Issuer Retained Crypto-Assets: 1
G.6 Utility Token Classification: true
G.7 Key Features of Goods/Services of Utility Tokens: The $A8 token has diverse key functionalities under the Ancient8 Ecosystem: (i) Governance: Token holders and stakers play a vital role in shaping the direction of Ancient8 Ecosystem. Through decentralized governance, token holders and stakers can propose and vote for important decisions. (ii) In-Game / Product Utilities: $A8 serves as a medium for various in-game and product-related transactions, including: NFT Minting, In-Game Purchases, Product Subscriptions on Ancient8 Chain, etc. (iii) Exclusive Access: early and exclusive access to events, early releases and product-specific content
G.8 Utility Tokens Redemption: The utilities of the $A8 token is captured and supported across diverse groups of users including holders, stakers, governance participants and ecosystem application users with detailed utilities mentioned above.
G.9 Non-Trading request: false
G.10 Crypto-Assets purchase or sale modalities: After the completion of the public offering, the token will be available for purchase and sale on regulated trading platforms, including Bitvavo. Investors may access the platform via its web interface or mobile application, subject to KYC/AML verification as required by the exchange.
G.11 Crypto-Assets Transfer Restrictions:
The A8 crypto-assets are generally transferable without restriction, subject to applicable law, exchange rules, and smart contract functionality. However, the following restrictions apply:
Jurisdictional Restrictions: The tokens may not be transferred to, or held by, individuals or entities located in jurisdictions where such transfer would violate local laws, including (but not limited to) the United States, China, and other sanctioned territories.
KYC/AML Compliance: Transfer of tokens from certain allocations (e.g., public sale, airdrops) may only be made to wallet addresses that have completed KYC/AML verification, as required by regulatory obligations or exchange policies.
Vesting Schedules: Tokens allocated to the team and early investors are subject to vesting and lock-up periods, during which they are non-transferable except as permitted under the token vesting smart contract.
Technical Restrictions: The token smart contract may include safety mechanisms (e.g., pausability) that could temporarily restrict transfers in the event of critical bugs or protocol upgrades.
These transfer conditions are designed to ensure compliance, market integrity, and long-term token sustainability.
G.12 Supply Adjustment Protocols: false
G.13 Supply Adjustment Mechanisms: N/A
G.14 Token Value Protection Schemes: false
G.15 Token Value Protection Schemes Description: N/A
G.16 Compensation Schemes: false
G.17 Compensation Schemes Description: N/A
G.18 Applicable law:
The A8 crypto-assets are legally governed by the laws of the British Virgin Islands, including applicable company, contract, and common law principles. Thetechnical operation is further defined by the Ethereum protocol and Layer 2 blockchain standards. Where the tokens are offered or traded in the European Union, the requirements of MiCAR shall apply.
G.19 Competent court: Legal matters relating to the use, custody, or transfer of the crypto-asset are governed by the laws of the British Virgin Islands
H. Information on the Underlying Technology
H.1 Distributed ledger technology:
The crypto-asset operates on the Ethereum blockchain, a widely adopted distributed ledger technology (DLT). Ethereum is a decentralized, permissionless blockchain that uses a proof-of-stake (PoS) consensus mechanism to validate transactions and ensure network security. This DLT records all transactions transparently across multiple nodes, ensuring immutability and preventing unauthorized alterations. Each node maintains a synchronized copy of the ledger, enhancing transparency and resilience against cyber threats.
Ethereum was chosen for its robust security, scalability, and support for smart contracts, which enable automated and programmable transactions critical to $A8’s functionality. The platform’s established infrastructure and active developer community ensure reliability and ongoing improvements, aligning with the needs of our crypto-asset for secure and efficient transaction processing. This DLT supports our commitment to transparency and investor protection, as required under the Markets in Crypto-Assets Regulation (MiCAR).
H.2 Protocols and technical standards:
The crypto-asset leverages distinct protocols and technical standards, ensuring functionality, security, and interoperability. The Ethereum Virtual Machine (EVM) protocol enables smart contract execution, supporting automated and programmable transactions. The ERC-20 token standard is used for $A8, ensuring compatibility with Ethereum-based wallets and exchanges. Transactions are secured using the Elliptic Curve Digital Signature Algorithm (ECDSA), a cryptographic standard that guarantees authenticity and integrity. Ethereum’s proof-of-stake (PoS) consensus protocol validates transactions, enhancing energy efficiency and network security.
Ancient8 has completed the audit for $A8 by Verichains as per https://verichains.io/?search=ancient8>
H.3 Technology Used:
Beyond the Ethereum blockchain, several technologies facilitate the holding, storing, and transferring of $A8. For holding, users can utilize Ethereum-compatible wallets, such as software wallets (e.g., MetaMask) and hardware wallets (e.g., Ledger). These wallets generate and store private-public key pairs, enabling secure access to $A8. Private keys are protected using industry-standard cryptographic algorithms like the Elliptic Curve Digital Signature Algorithm (ECDSA), ensuring transaction authenticity and user control.
For secure storage, institutional and retail investors can leverage third-party custody solutions, such as regulated custodial services (e.g., Coinbase Custody or Fireblocks). These platforms employ multi-signature (multisig) technology and cold storage to safeguard assets against cyber threats. For transferring, Ethereum’s native transaction protocol, supported by the Ethereum Virtual Machine (EVM), enables seamless peer-to-peer transfers. These technologies ensure secure, efficient, and accessible operations, complying with the Markets in Crypto-Assets Regulation (MiCAR) requirements for investor protection.
H.4 Consensus Mechanism:
The crypto-asset operates on the Ethereum blockchain, a widely adopted distributed ledger technology (DLT). Ethereum is a decentralized, permissionless blockchain that uses a proof-of-stake (PoS) consensus mechanism to validate transactions and ensure network security.
H.5 Incentive Mechanisms and Applicable Fees:
$A8 is the heart of the Ancient8 ecosystem with a dynamic range of use cases for driving engagement, innovation, and ownership within the Ancient8 Chain.
Governance
Token holders play a vital role in shaping the direction of Ancient8 Ecosystem. Through decentralized governance, token holders and stakers can propose and vote for important decisions.
In-Game / Product Utilities
$A8 serves as a medium for various in-game and product-related transactions, including:
NFT Minting: Users can mint unique NFTs, contributing to the vibrant digital asset ecosystem within Ancient8.
In-Game Purchases: Players can utilize $A8 for various in-game transactions, enhancing their gaming experience and seamless interacting with other games or applications under the Ancient8 and Superchain Ecosystem.
Product Subscriptions on Ancient8 Chain: Access exclusive features and content by subscribing using $A8.
Exclusive Access
Owning $A8 provides token holders with exclusive access to:
Events: Participation in special events.
Early Releases: Be the first to experience new products or features.
Product-Specific Content: Access tailored content designed for $A8 holders.
Value Capture
As the Ancient8 Chain expands, it aims to sustainably benefit $A8 holders, providing value and utility as the ecosystem grows.
Staking
Staking $A8 offers various rewards and benefits, including:
Diverse Staking Point Usages: Flexibility in how staked points can be used within the ecosystem.
Recognition of Contributors: Allow contributors more power and in-game benefits when participating in the Ancient8 ecosystem.
Premium In-Game Perks: Enhance the gaming experience through exclusive in-game advantages.
Prioritized Launch Access: Early access to new launches and products.
H.6 Use of Distributed Ledger Technology: false
H.7 DLT Functionality Description: N/A
H.8 Audit: true
H.9 Audit outcome:
All certified by Verichains, as per https://verichains.io/?search=ancient8
I. Information on Risks
I.1 Offer-Related Risks:
The offer and admission to trading of the token involve several risks, including but not limited to:
Regulatory uncertainty
Price volatility
Liquidity constraints
Technical vulnerabilities
Project execution risk
Jurisdictional limitations
Purchasers should carefully consider their risk tolerance and consult with independent advisors before participating. The issuer accepts no liability for losses resulting from risks outside of its control.
I.2 Issuer-Related Risks: N/A
I.3 Crypto-Assets-related Risks:
Investing in $A8, which operates on the Ethereum blockchain, involves several risks that may impact holders:
Market Risk: $A8’s price is subject to high volatility, driven by market speculation, demand fluctuations, or macroeconomic factors, potentially leading to significant financial losses.
Technological Risk: Ethereum’s blockchain, while secure, is vulnerable to cyber-attacks, software bugs, or smart contract exploits, which could compromise $A8 transactions or funds.
Operational Risk: Storing $A8 in wallets (e.g., MetaMask) or custody solutions (e.g., Coinbase Custody) carries risks of hacking, private key loss, or provider insolvency, resulting in asset loss.
Regulatory Risk: Evolving crypto regulations across jurisdictions may restrict $A8’s use, trading, or legal status, affecting its value or accessibility.
Liquidity Risk: Limited trading volume on exchanges could hinder selling $A8 at desired prices.
Asset-Specific Risk: $A8’s value depends on its adoption and platform governance, where low uptake or mismanagement could reduce utility or returns.
These risks are disclosed to ensure transparency, as required by the Markets in Crypto-Assets Regulation (MiCAR).
I.4 Project Implementation-Related Risks:
Implementing the $A8 project on the Ethereum blockchain involves several risks that could impact its development and operation:
Technical Development Risk: Delays or errors in coding smart contracts or integrating $A8 with Ethereum’s ecosystem may postpone launches or introduce vulnerabilities, reducing functionality or user trust.
Team Execution Risk: The project’s success depends on the team’s expertise; loss of key personnel or insufficient technical skills could hinder delivery of the roadmap.
Funding Risk: Insufficient funding, due to market downturns or misallocated resources, may limit development, marketing, or operational scalability.
Governance Risk: Poor decision-making or lack of transparency in project governance could lead to mismanagement, eroding stakeholder confidence.
Dependency Risk: $A8 relies on Ethereum’s infrastructure; network upgrades (e.g., Ethereum 2.0 updates) or performance issues could disrupt operations.
Partnership Risk: Failure of third-party integrations (e.g., wallet providers or exchanges) may limit $A8’s accessibility.
These risks are disclosed to ensure transparency, as required by the Markets in Crypto-Assets Regulation (MiCAR).
I.5 Technology-Related Risks:
The technologies supporting $A8 on the Ethereum blockchain carry several risks that could impact its operation:
Blockchain Network Risk: Ethereum, while secure, is susceptible to cyber-attacks, such as 51% attacks or denial-of-service exploits, which could disrupt $A8 transactions or network stability.
Smart Contract Risk: $A8 relies on Ethereum smart contracts, which may contain coding errors or vulnerabilities, potentially leading to asset loss or exploitation (e.g., reentrancy attacks).
Wallet Security Risk: Ethereum-compatible wallets (e.g., MetaMask, Ledger) used to hold $A8 are vulnerable to phishing, malware, or private key theft, risking user funds.
Custody Risk: Third-party custody solutions (e.g., Coinbase Custody) face risks of hacking, insider fraud, or system failures, which could render $A8 inaccessible.
Cryptographic Risk: The Elliptic Curve Digital Signature Algorithm (ECDSA) secures $A8 transactions but could be compromised by quantum computing advancements in the long term.
Network Congestion Risk: Ethereum’s high traffic may cause slow transactions or high gas fees, affecting $A8’s usability.
These risks are disclosed to ensure transparency, as required by the Markets in Crypto-Assets Regulation (MiCAR).
I.6 Mitigation measures:
To address technology-related risks for $A8 on the Ethereum blockchain, several mitigation measures are implemented:
Blockchain Network Risk: To counter potential cyber-attacks, the project leverages Ethereum’s robust proof-of-stake (PoS) security and monitors network health through third-party tools, ensuring rapid response to threats.
Smart Contract Risk: All $A8 smart contracts undergo rigorous audits by reputable firms (primarily Verichains) and are tested on Ethereum testnets to identify and fix vulnerabilities before deployment.
Wallet Security Risk: Users are educated on best practices, such as using hardware wallets (e.g., Ledger) and enabling two-factor authentication, while $A8 integrates with wallets supporting advanced encryption.
Custody Risk: Native adoptable with regulated custodians (e.g., Metamask) ensure higher security practices from these wallet providers.
Cryptographic Risk: The use of ECDSA is supplemented by ongoing research into quantum-resistant algorithms.
Network Congestion Risk: $A8 transactions are optimized for lower gas fees, and users are guided to transact during low-traffic periods.
These measures ensure security and reliability, complying with the Markets in Crypto-Assets Regulation (MiCAR).
J. Information on the sustainability indicators in relation to adverse impact on the climate and other environment-related adverse impacts
S.1 Name: Metaplay8 Limited
S.2 Relevant legal entity identifier: N/A
S.3 Name of the crypto-asset: Ancient8
S.4 Consensus Mechanism:
The crypto-asset operates on the Ethereum blockchain, a widely adopted distributed ledger technology (DLT). Ethereum is a decentralized, permissionless blockchain that uses a proof-of-stake (PoS) consensus mechanism to validate transactions and ensure network security.
S.5 Incentive Mechanisms and Applicable Fees:
$A8 is the heart of the Ancient8 ecosystem with a dynamic range of use cases for driving engagement, innovation, and ownership within the Ancient8 Chain.
Governance
Token holders play a vital role in shaping the direction of Ancient8 Ecosystem. Through decentralized governance, token holders and stakers can propose and vote for important decisions.
In-Game / Product Utilities
$A8 serves as a medium for various in-game and product-related transactions, including:
NFT Minting: Users can mint unique NFTs, contributing to the vibrant digital asset ecosystem within Ancient8.
In-Game Purchases: Players can utilize $A8 for various in-game transactions, enhancing their gaming experience and seamless interacting with other games or applications under the Ancient8 and Superchain Ecosystem.
Product Subscriptions on Ancient8 Chain: Access exclusive features and content by subscribing using $A8.
Exclusive Access
Owning $A8 provides token holders with exclusive access to:
Events: Participation in special events.
Early Releases: Be the first to experience new products or features.
Product-Specific Content: Access tailored content designed for $A8 holders.
Value Capture
As the Ancient8 Chain expands, it aims to sustainably benefit $A8 holders, providing value and utility as the ecosystem grows.
Staking
Staking $A8 offers various rewards and benefits, including:
Diverse Staking Point Usages: Flexibility in how staked points can be used within the ecosystem.
Recognition of Contributors: Allow contributors more power and in-game benefits when participating in the Ancient8 ecosystem.
Premium In-Game Perks: Enhance the gaming experience through exclusive in-game advantages.
Prioritized Launch Access: Early access to new launches and products.
S.6 Beginning of the period to which the disclosure relates: 2025-05-13
S.7 End of the period to which the disclosure relates: 2025-05-13
S.8 Energy consumption: 8,000 kWh
S.9 Energy consumption sources and methodologies:
The $A8 crypto-asset operates on the Ethereum blockchain, which uses a Proof of Stake (PoS) consensus mechanism. PoS is highly energy-efficient, consuming approximately 0.04 kWh per transaction. With an estimated 200,000 transactions annually on $A8 on Ethereum, $A8’s total energy consumption is approximately 8,000 kWh per year, comparable to the annual energy use of 2–3 EU households. This minimal environmental impact reflects Ethereum’s sustainable design compared to legacy Proof of Work systems. Estimates are based on data from the Ethereum Foundation and industry-standard metrics.
The Cambridge Blockchain Network Sustainability Index provides a similar figure, noting a rolling 7-day average that aligns with this range. Ethereum’s PoS mechanism, implemented in September 2022, reduced energy usage by over 99.95% compared to its prior proof-of-work system, making it highly energy-efficient.
Energy consumption varies slightly as nodes join or leave the network, but $A8 benefits from Ethereum’s low environmental footprint. This transparency aligns with the Markets in Crypto-Assets Regulation (MiCAR) requirements for sustainability disclosures.
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