Celestia (TIA) Crypto Asset Statement

PLEASE READ THIS CAREFULLY. BY PROCEEDING TO TRANSACT IN TIA, YOU ACKNOWLEDGE AND ACCEPT THE STATEMENTS SET OUT BELOW.

About this Summary

Ndax Canada Inc. (“Ndax”, “we” and “our”) believes that our users should understand the crypto assets that they are able to trade and stake using our crypto trading platform (the “Platform”). One of the crypto assets we offer on the Platform is TIA. We created this summary to help you understand the basics of TIA as well as some of the risks involved in trading in TIA. While we tried to describe the key features of TIA, this summary isn’t meant to tell you everything you’d want to know before investing in TIA. You should also do your own research on TIA to make sure you are comfortable investing in it.

Description of TIA

History of TIA

Celestia began as a concept to create a modular, scalable blockchain network. It was developed to address the limitations of existing blockchain architectures by separating consensus and data availability from execution. This approach aims to enhance scalability and flexibility in blockchain systems.

What is TIA used for

TIA is the native token of the Celestia network. It is utilized primarily for participating in the network's consensus mechanism and for paying transaction fees. The Celestia network positions itself as a foundational layer for new blockchain ecosystems, providing a decentralized and secure framework for building various decentralized applications.

How TIA works

Celestia’s architecture is based on a modular approach. It separates the consensus and data availability layers from execution, allowing for greater scalability and flexibility. This design enables Celestia to function as a decentralized “blockchain of blockchains”, where multiple execution environments can be built atop its base layer.

Risks

Before entering into an agreement (a “Crypto Contract”) with Ndax to buy or sell any crypto assets through the Platform, 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.

Novel technology risk

Celestia introduces a modular blockchain architecture that separates consensus and data availability functions. As a newer design approach, it may face unforeseen technical or adoption challenges.

Data availability demand risk

The value of the network depends on developers and applications utilizing Celestia's data availability services. Lower-than-expected adoption could reduce demand for TIA.

Validator concentration risk

A concentration of staking or validator activity among a small number of participants could affect decentralization and network resilience.

Ecosystem development risk

Celestia's long-term success depends on the growth of a broader ecosystem of rollups and modular blockchain applications.

Like other crypto assets, there are some general risks associated with investing in TIA. Each of these risks are described in more detail in the Risk Statement provided to you at the time that you open your account with us and is also available online on the Ndax website and app. You should review the Risk Statement.

While we have tried to describe the key risks associated with TIA here and in our Risk Statement, we emphasize that this Crypto Asset Statement is not exhaustive of all of the risks associated with trading in TIA. You should also do your own research on TIA to make sure you are comfortable investing in such a crypto asset.

Conflict of Interest Disclosure

Ndax has assessed potential conflicts of interest associated with the offering, and ongoing availability of TIA through the Platform. As of the date of this statement, Ndax has not identified any actual, material, or reasonably foreseeable conflict of interest that would be expected to impair our ability to act in the best interests of clients or to make fair, objective, and independent decisions regarding TIA. Ndax maintains policies and procedures designed to identify, manage, and address conflicts of interest on an ongoing basis and will update our disclosures if any material conflict is identified in the future. For additional information about the material conflicts of interest identified by us, please refer to our Conflicts of Interest Statement, the latest version of which can be found on our Website.

Regulatory Information

Ndax is a registered investment dealer under securities legislation in all provinces and territories of Canada, and is a member of the Canadian Investment Regulatory Organization (CIRO) and of the Canadian Investor Protection Fund (CIPF). Ndax is offering Crypto Contracts in reliance on a prospectus exemption contained in the exemptive relief decision Re Ndax Canada Inc. dated December 19, 2024 (found {here}) and under the terms and conditions imposed by CIRO on Ndax’s membership with CIRO (found {here}). Any fiat currency held in users’ accounts is protected by CIPF’s Investment Dealer Fund in accordance with its Coverage Policy. However, CIPF coverage does not extend to any virtual assets held in users accounts. These assets are not eligible for deposit insurance or any protection from the Canada Deposit Insurance Corporation (CDIC) or CIPF.

Please be aware that the statutory rights of action for damages and the right of rescission in the securities legislation of each province and territory of Canada do not apply in respect of a misrepresentation in this Crypto Asset Statement.

Prior to offering a Crypto Contract on TIA, Ndax assesses whether TIA is a security and/or a derivative under the securities and derivatives laws of Canada. Ndax’s assessment includes a review of the history of TIA (such as how it was created and its governance structure), its characteristics, its market capitalization and any regulatory concern regarding TIA. Based on its assessment, Ndax concluded that TIA is not a security or a derivative. However, there is a risk that this conclusion could change in the future. In that case, Ndax may be required to halt or withdraw TIA from trading on the Platform and stop any future trading of Crypto Contracts based on TIA, and users holding TIA may be required to liquidate their positions, potentially at a significant loss. In this event, users holding positions in TIA will be notified via the Platform or other electronic means and advised of the options available to them and any applicable period to sell or withdraw their positions in TIA.

No Canadian securities regulatory authority has expressed an opinion about TIA, including an opinion that TIA is not itself a security and/or derivative.

Last Updated: August 25, 2026