About this Statement
Coinsquare Capital Markets Ltd. (“Bitbuy”) is offering crypto contracts to purchase and sell Pump.fun (PUMP) in reliance on a prospectus exemption granted by the Canadian Securities Administrators (CSA) in the amended and restated exemptive relief decision dated October 11, 2024. 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 CSA jurisdictions do not apply in respect of a misrepresentation in this statement to the extent that a crypto contract is distributed under the above-noted prospectus relief.
No securities regulatory authority in Canada or any other jurisdiction has expressed an opinion about any of the crypto assets (or crypto contracts) that are available through Bitbuy’s platform, including an opinion that the crypto assets are not themselves securities and/or derivatives.
Bitbuy has compiled the information contained in this Crypto Asset Statement to the best of its ability based on publicly available information.
About PUMP
PUMP is a token issued on the Solana blockchain using the standard SPL contract. PUMP is the native utility and governance token of the Pump.fun ecosystem. It is designed to support platform growth through governance voting rights, incentive mechanisms for users, and potential participation in future fee-sharing or buyback programs.
Risks
As with all assets, investing in PUMP is not without some general risks. Many of these risks are identified and explained in our Risk Statement. In addition to the general risks, we outline some risks that are specific to PUMP below. While we make an effort to identify every source of risk, we encourage you to do your own research and ensure you are comfortable investing in PUMP.
PUMP Tokenomics
Significant portions of the total PUMP supply have been allocated to designated groups: 20% to the team, 13% to early investors, and 24% to community and ecosystem initiatives. Some of these allocations began vesting immediately, while others are subject to deferred unlocking schedules, with key cliffs anticipated in July 2026.
As of February 2026, the circulating supply comprises approximately 43% of the total token supply, representing tokens released during the initial public sale, liquidity provisioning, and community initiatives. Allocations for the core team and early investors remain subject to a one-year lock-up period, with the primary vesting cliff scheduled for July 2026.
Reliance on Solana Network
As PUMP is an SPL token on the Solana network, it is highly dependent on the continued stability of that network. Any fundamental issues in the Solana network may impact PUMP’s smart contract or token value. Investors should consider this dependency, and the Solana network’s history with respect to stability, when evaluating PUMP.
PUMP’s Relationship to the Pump.fun Platform
PUMP is the official native token of the Pump.fun platform, but it does not explicitly derive value from any single token launched on the site. PUMP grants holders governance rights, allowing them to participate in key platform decisions, such as adjustments to fee structures and the allocation of ecosystem grants. Additionally, the token serves as a central component of the platform's incentive structure, rewarding active traders, creators, and participants in ecosystem initiatives.
Bitbuy’s Due Diligence for Digital Assets
To be made available for trading on Bitbuy’s platform, a digital asset must pass the following due diligence reviews:
Bitbuy undertakes these three levels of due diligence in order to determine whether the digital asset is compliant with our legal and regulatory obligations, is secure, and has historical data supporting a beneficial business case. Bitbuy’s New Product Committee must provide final approval for a new digital asset to be made available on the platform.
