Crypto-Asset White Paper

Date of Notification

Date of notification of this crypto-asset white paper to the competent authority of the home Member State pursuant to Article 8 of Regulation (EU) 2023/1114: [● to be completed].

Competent authority to which this white paper is notified: [● to be completed]. Home Member State of the offeror: [● to be completed].

Compliance Statement of the Management Body

Warnings — Statements in Accordance with Article 6(5) of MiCA

This crypto-asset white paper does not contain any assertion as regards the future value of BG. The offeror makes no promise, representation or guarantee as to any future value, price, liquidity or market for BG.

Summary

Key information in brief

What BaseGold is. BaseGold (ticker: BG) is a crypto-asset deployed as an ERC-20 token on Base, an Ethereum Layer 2 network. Its total supply of 10,000 BG was created in full at contract deployment; the token contract contains no function to create additional tokens. Several mechanisms in the BaseGold ecosystem permanently destroy (“burn”) BG, so the supply can only remain constant or decrease over time.

What you get. BG gives its holder no claim, debt, dividend, interest, redemption right, or ownership stake against the offeror or any other person. Its functions are: (i) it can be transferred and traded like any ERC-20 token; (ii) it is the means of payment and participation within the BaseGold ecosystem — including MineSwap (a decentralised exchange), The Mine (a seasonal mining game with ERC-721 NFT “mine plots”), the in-game shop (where all BG spent is burned), and Gold Vein (an on-chain referral programme); and (iii) holding at least 1 BG confers membership and voting participation in the Golden Council, the project’s governance body.

How BG is offered. BG is not sold through a subscription or ICO with a fixed price. It is available to the public through liquidity pools on decentralised exchanges on the Base network, where the price is set by market supply and demand. Payments are made in crypto-assets (for example ETH) via on-chain swaps.

Technology. BG runs on Base, an optimistic rollup built on the OP Stack that settles to Ethereum. Ethereum uses a proof-of-stake consensus mechanism with a comparatively low energy footprint; issuing and using BG requires no mining and no dedicated consensus infrastructure (see Part J for sustainability indicators).

Key risks. BG is a micro-capitalisation crypto-asset with an unusually small supply and limited liquidity. Its price can be extremely volatile and can fall to zero; positions may be difficult or impossible to sell; smart contracts and the underlying networks can fail or be exploited; the game, referral and governance features may be changed or discontinued; and referral rewards depend entirely on future activations by new participants. A full description is set out in Part I.

Where to find information. This white paper, the underlying smart contract addresses and the project documentation are published at https://basegold.io. All contracts are publicly inspectable on the Base block explorer (basescan.org).

Table of Contents

Part AInformation about the Offeror

A.1	Name	BaseGold Foundation (trade name). Registered legal name: [● to be completed]
A.2	Legal form	[● to be completed]
A.3	Registered address	[● to be completed]
A.4	Head office	[● to be completed]
A.5	Registration date and number	[● to be completed]
A.6	Legal entity identifier (LEI)	[● to be completed]
A.7	Other identifier required pursuant to applicable national law	[● to be completed, where applicable]
A.8	Contact telephone number	[● to be completed]
A.9	E-mail address	[● to be completed]
A.10	Response time to enquiries	Enquiries received at the contact points above will be answered within [●] business days.
A.11	Parent company	[● to be completed — state “none” if not applicable]
A.12	Members of the management body	[● full names, business addresses and functions to be completed]
A.13	Business activity	Development, publication and maintenance of the BaseGold protocol and its related applications: the BG token contract, the MineSwap decentralised exchange contracts, The Mine gaming application and associated ERC-721 mine plot NFTs, the Gold Vein referral contract, the Golden Council governance tooling, and the basegold.io website. The offeror also provisions liquidity for BG trading pairs on decentralised exchanges on the Base network.
A.14	Parent company business activity	[● to be completed, where applicable]
A.15	Financial condition	Financial condition of the offeror for the past three years or, where established more recently, since registration (including a fair review of business development, performance and position, per Article 6(1), point (a), of MiCA): [● to be completed]
A.16	Public communication channels	Website: https://basegold.io • X (Twitter): https://x.com/BaseGold_BG • Telegram: https://t.me/+ZzMI6IXV_KFiNzkx • Block explorer: https://basescan.org

Part BInformation about the Issuer, where different from the Offeror

B.1	Issuer identity	The issuer of BG is the same person as the offeror identified in Part A. The BG token contract was deployed by, and the initial allocation of 10,000 BG was received and is administered by, the offeror. No separate issuer exists.

Part CInformation about the Operator of the Trading Platform

C.1	Applicability	Not applicable. This crypto-asset white paper is drawn up by the offeror, not by an operator of a trading platform. As at the date of this document, BG has not been admitted to trading on a trading platform for crypto-assets operated by an authorised crypto-asset service provider in the Union; BG is exchangeable through permissionless, smart-contract-based liquidity pools on the Base network (see Part E).

Part DInformation about the Crypto-Asset Project

D.1 – D.5 Project, history, team and advisers

D.1	Crypto-asset project name	BaseGold
D.2	Crypto-assets connected to the project	(i) BaseGold (BG), an ERC-20 token — the subject of this white paper; (ii) Mine Plot NFTs, ERC-721 tokens with dynamic metadata minted to participants of The Mine. Mine Plot NFTs are utility collectibles connected to the project and are described in this document for completeness; they are not the subject of the offer covered by this white paper.
D.3	Brief history of the project	The BG token contract was deployed on the Base network with a one-time mint of 10,000 BG (deployment date: [● to be completed]). Liquidity pools for BG were subsequently established across multiple decentralised exchanges on Base. The Technical Whitepaper v2.0 was published in February 2026. The Mine gaming application has operated in seasons, with Season 3 (“The Great Excavation”) launched in March 2026. The Gold Vein referral contract and the InstantBurn buyback-and-burn contract are deployed and verified on Base. This white paper (v3.0, August 2026) restructures the project documentation in accordance with MiCA.
D.4	Persons involved in the implementation of the project	Members of the management body and key contributors, including their business addresses and functions: [● to be completed]. MiCA requires the identification of all natural and legal persons involved in the implementation of the project; pseudonymous identification is not sufficient for the purposes of notification.
D.5	Advisers	[● to be completed — state “none” if not applicable]

D.6 Utility and features of the BaseGold ecosystem

The BaseGold ecosystem consists of four integrated components, each powered by smart contracts on the Base network. Routine use of each component removes BG from circulation through burning, so that ecosystem activity results in a monotonically decreasing token supply. The descriptions below are factual descriptions of intended functionality; Part I describes the risks associated with each component, including the risk that a component is changed, fails or is discontinued.

D.6.1 MineSwap — decentralised exchange

MineSwap is a purpose-built automated market maker (AMM) deployed as a five-contract architecture on the Base network. It serves as the native exchange venue of the BaseGold ecosystem:

• Factory contract — manages the creation and registry of trading pair pools. Each pair is an independent liquidity pool following the constant product formula (x × y = k).
• Router contract — the primary interface for swap execution, liquidity provisioning and multi-hop routing, with slippage protection and deadline enforcement.
• Pair contracts — individual liquidity pools holding token reserves and implementing the AMM pricing curve.
• Fee Distributor contract — receives the protocol’s share of trading fees and allocates it between the buyback-and-burn engine and the cashback rebate pool according to a configurable split ratio.
• Rebate contract — manages on-chain distribution of cashback rewards to qualifying traders, claimable at any time without a custodial intermediary.

Fee structure. Every swap executed on MineSwap incurs a total fee of 0.30% of the swap amount, split as follows: 0.15% is distributed pro rata to liquidity providers of the relevant pair, and 0.15% is routed to the Fee Distributor contract, which partitions it between (i) the autonomous buyback-and-burn engine and (ii) the trader cashback pool.

Autonomous buyback-and-burn. When the protocol’s accumulated fee balance exceeds a configurable threshold, the Fee Distributor automatically executes a market purchase of BG through MineSwap’s liquidity pools and burns the acquired tokens. Higher trading volume produces larger fee accumulations and more frequent burn cycles.

Trader cashback. A portion of the protocol fee is credited to a claimable balance for the trader in the Rebate contract; accumulated rebates can be claimed at any time in a single on-chain transaction. Rebate parameters are governed by the Golden Council and may be adjusted.

D.6.2 The Mine — mining application and NFT mine plots

The Mine is a competitive, season-based mining game. Purchasing a mine costs 0.10 BG and mints the buyer’s personalised ERC-721 NFT “mine plot”. The mine plot NFT functions as a player identity credential and a persistent data container: cumulative mining scores, level progression (35+ levels), seasonal tournament results, purchased items and historical performance metrics are encoded in the NFT’s dynamic metadata, which updates as the holder plays. Mine plot NFTs follow the ERC-721 standard and are transferable and listable on third-party NFT marketplaces such as OpenSea. The secondary market value of a mine plot NFT, if any, is determined solely by market participants; the offeror makes no representation that any mine plot NFT will have or retain any value.

Each season operates as a discrete tournament with a defined prize pool denominated in BG, distributed to top-ranked participants at the season’s end according to published tournament rules. Anti-cheat infrastructure (automated detection of scripted inputs and behavioural anomaly analysis) is used to maintain competitive integrity.

The Mine shop (buyback-and-burn commerce). The Mine includes an integrated shop where players purchase upgrades and items (for example, mining multipliers and cosmetic enhancements) using BG. All BG spent in the shop is permanently burned through smart contract execution, and each purchased item is recorded in the buyer’s mine plot NFT metadata. Certain in-game structures may be purchased with ETH; ETH received by the InstantBurn treasury contract is used to market-buy BG and burn it.

Airdrop qualification. The DAO Treasury allocation (8% of supply) funds seasonal airdrops to active participants. Eligibility and weighting are determined by a composite score derived from on-chain metrics recorded in the participant’s mine plot metadata: number of Gold Vein referrals; cumulative BG burned; cumulative in-game mining output; BG held in the wallet at distribution; and seasonal tournament performance. Airdrops are discretionary distributions from the treasury, are subject to change by governance, and confer no entitlement or expectation of profit.

D.6.3 Gold Vein — referral protocol

Gold Vein is a seven-tier referral reward system deployed as a verified smart contract on Base (address: 0x5E4842ac8D7b37922366cb1b78259b9324915dBC). When a new participant activates by purchasing a mine through Gold Vein, the 0.10 BG activation fee is distributed atomically, on-chain, according to a fixed schedule: 95% is distributed across the seven levels of the participant’s referral chain and 5% is permanently burned.

Gold Vein seven-tier reward distribution per 0.10 BG activation. All distributions are executed on-chain in a single transaction; every activation, referral relationship and reward distribution is publicly verifiable on BaseScan.

Level	Type	Share of fee	BG per activation	Cumulative
Level 1	Direct	60%	0.060 BG	60%
Level 2	Passive	14%	0.014 BG	74%
Level 3	Passive	9%	0.009 BG	83%
Level 4	Passive	5%	0.005 BG	88%
Level 5	Passive	4%	0.004 BG	92%
Level 6	Passive	2%	0.002 BG	94%
Level 7	Passive	1%	0.001 BG	95%
Burn	Deflationary	5%	0.005 BG	100%

Important characterisation. Gold Vein rewards are funded exclusively by the activation fees of new participants. Rewards therefore depend entirely on continued new activations: a participant who refers no one and whose referral chain generates no new activations receives nothing from Gold Vein. Participation in Gold Vein is not an investment, does not generate returns from the efforts of the offeror, and is not a promise of income. Multi-level referral structures may be subject to additional restrictions in some jurisdictions; see Part I.

D.6.4 The Golden Council — governance

Protocol governance is exercised through the Golden Council, a token-gated body open to any wallet holding at least 1 BG. The Golden Council votes on protocol parameters including MineSwap fee allocation ratios, cashback rebate percentages, burn event scheduling, treasury disbursements and partnership approvals. Voting is conducted through the DAO page integrated in The Mine application. The DAO Treasury (8% of supply) funds community-directed initiatives approved through governance votes. The legal nature of Golden Council resolutions, and the extent to which their execution is performed automatically on-chain or implemented by the offeror, is described in Part G.

D.7 Planned use of tokens and funds; token allocation

The initial distribution of the 10,000 BG supply is designated across seven operational categories:

BaseGold token allocation by operational category. Allocations other than tokens already placed in circulation are held and administered by the offeror; lock-up or vesting arrangements applicable to team-controlled allocations: [● to be completed].

Allocation category	Amount (BG)	Percentage
MineSwap DEX infrastructure and liquidity provisioning	2,400	24%
Web3 technologies and development	1,600	16%
DeFi lending integration (e.g. Aave)	1,200	12%
Exchange partnerships and listings	1,000	10%
Innovation team and operations	1,000	10%
DAO Treasury and airdrops	800	8%
Liquidity pools (multi-DEX)	2,000	20%
Total supply	10,000	100%

Use of proceeds. Proceeds realised by the offeror from the sale or deployment of treasury-held BG (for example, through liquidity provisioning) are applied to: development and maintenance of the protocol and applications; provisioning and deepening of liquidity pools; security reviews and audits; exchange listing and integration costs; operating costs of the offeror; and ecosystem incentives (tournament prize pools and airdrops). A quantified breakdown of funds raised to date and their application: [● to be completed].

D.8 Roadmap and milestones

Development phases. All planned milestones are forward-looking statements of current intention only. They are not commitments, may change or be abandoned, and depend on third parties (including exchanges and DeFi protocols) with whom no binding agreement may exist. References to third-party platforms do not imply any endorsement, agreement or pending listing unless expressly stated.

Phase	Milestones	Status
Phase 1	Contract deployment on Base • liquidity established across seven decentralised exchanges • whitepaper and documentation published • DexScreener Enhanced listing • CoinMarketCap listing	Completed / in progress [● confirm]
Phase 2	MineSwap deployment with buyback-and-burn engine • trader cashback launch • The Mine with NFT mine plot minting • OpenSea integration • buyback-and-burn shop • The Mine seasonal tournaments • Golden Council activation • CoinGecko listing • centralised exchange listing	In progress [● confirm]
Phase 3	DeFi lending integration (Aave) • airdrop distribution tied to mine plot metadata • staking platform with tiered reward periods • cross-chain expansion evaluation	Planned
Phase 4	Tokenised real-world-asset liquidity pairs (gold, silver, equities, commodities) • merchant payment integrations • holder NFT collection • advanced DeFi partnerships • tier-1 exchange listings • mobile application	Planned

Part EInformation about the Offer to the Public / Admission to Trading

E.1	Nature of this document’s scope	This white paper is drawn up in respect of an offer of BG to the public. As at the date of this document, no application has been made for admission of BG to trading on a trading platform for crypto-assets operated by an authorised crypto-asset service provider; should such admission be sought, this white paper will be updated and notified in accordance with MiCA. Whether the current mode of distribution (permissionless liquidity pools; see E.5) constitutes an “offer to the public” within the meaning of Article 3(1), point (12), of MiCA, and whether any exemption under Article 4 applies, is subject to the confirmation described in the Document Status notice: [● to be completed].
E.2	Reasons for the offer	To distribute BG to the public; to fund the development and operation of the BaseGold protocol and applications; to provision liquidity; and to grow the ecosystem, in line with the allocation and use of proceeds set out in Part D.7.
E.3	Amount subject to the offer	Total supply: 10,000 BG (fixed; reducible by burns). Tokens in public circulation as at the date of this document: [● to be completed]. Tokens remaining under the offeror’s control by allocation category are set out in Part D.7. There is no minimum or maximum subscription amount per purchaser.
E.4	Conditions and eligibility	The offer is continuous and not subject to subscription windows. BG is not offered to persons in jurisdictions where the acquisition or holding of crypto-assets is prohibited, or to persons subject to sanctions. Purchasers are responsible for compliance with the laws of their own jurisdiction.
E.5	Issue price and pricing method	There is no fixed issue or subscription price. BG is exchangeable through automated-market-maker liquidity pools on decentralised exchanges on the Base network (including, once deployed, MineSwap); the price of each swap is determined algorithmically by the constant-product pricing curve of the relevant pool at the moment of execution, reflecting market supply and demand.
E.6	Payment methods	Payment is made in crypto-assets accepted by the relevant liquidity pool (for example ETH or other Base-network assets), by executing an on-chain swap from a self-custodied wallet. Fiat currency is not accepted directly by the offeror.
E.7	Right of withdrawal	Pursuant to Article 13 of MiCA, a retail holder who purchases BG directly from the offeror, or from a crypto-asset service provider placing BG on behalf of the offeror, has a right of withdrawal, without incurring any fee or cost and without giving reasons, for 14 calendar days from the date of agreement to purchase. The right of withdrawal does not apply where BG has been admitted to trading on a trading platform before the purchase. Purchases executed on the secondary market (including via decentralised liquidity pools against third-party liquidity) are not purchases from the offeror and do not carry the Article 13 right of withdrawal. Procedure for exercising the right of withdrawal, where applicable: [● to be completed].
E.8	Safeguarding of funds (Article 10 MiCA)	Description of the arrangements to safeguard funds or other crypto-assets raised during the offer, including the credit institution or crypto-asset service provider providing custody where required: [● to be completed]. Crypto-assets received by protocol smart contracts (for example Gold Vein activation fees) are distributed or burned atomically in the same transaction and are not held by the offeror.
E.9	Time schedule	The offer is continuous from the publication of this white paper. Historical availability: BG liquidity pools have been publicly accessible on Base-network decentralised exchanges since initial deployment (see Part D.3).
E.10	Costs borne by the purchaser	Network transaction (gas) fees on Base (typically a fraction of one US cent per transaction, variable with network conditions); AMM swap fees of the relevant venue (0.30% on MineSwap, split as described in Part D.6.1; other venues set their own fees); price impact and slippage inherent to AMM execution; and, in The Mine, the 0.10 BG mine purchase price and shop item prices.
E.11	Conflicts of interest	The offeror and members of the project team hold BG (including the allocations in Part D.7), act as liquidity providers, may participate in Gold Vein referral chains, and operate the MineSwap protocol whose fees fund the buyback-and-burn and cashback mechanisms. These positions may benefit from increased ecosystem activity. Further conflicts, if any: [● to be completed].
E.12	Placement	No underwriter, placement agent or crypto-asset service provider has been mandated to place BG. [● update if this changes]
E.13	Applicable law and competent courts	This offer and this white paper are governed by the law of [● to be completed]; competent courts: [● to be completed], without prejudice to mandatory consumer protections and to the application of MiCA in the Union.

Part FInformation about the Crypto-Asset

F.1 Type and classification

BG is a crypto-asset within the meaning of Article 3(1), point (5), of MiCA: a digital representation of value that can be transferred and stored electronically using distributed ledger technology. The offeror’s assessment of its classification is as follows:

• Not an asset-referenced token (ART). BG does not purport to maintain a stable value by referencing any other value, right or asset, or combination thereof. References in project materials to “store-of-value backing” describe the offeror’s liquidity strategy of pairing BG in AMM pools against widely traded crypto-assets (for example ETH and wrapped representations of BTC, LTC and XRP). Such pairing creates trading venues only; it creates no peg, no stabilisation mechanism, no reserve of assets and no redemption claim of any kind. The value of BG floats freely.
• Not an e-money token (EMT). BG does not reference the value of any official currency.
• Not a financial instrument. BG confers no share, bond, derivative or other rights characteristic of financial instruments under Directive 2014/65/EU (MiFID II), no claim against the offeror, no dividend or interest, and no repayment obligation.
• Utility features. BG provides access to goods and services within the BaseGold ecosystem (mine purchases, shop items, referral activation) alongside its free transferability. Whether BG constitutes a “utility token” as defined in Article 3(1), point (9), of MiCA does not alter the applicable regime: in either case BG falls under Title II of MiCA as a crypto-asset other than an asset-referenced token or e-money token.

This classification reflects the offeror’s good-faith assessment and has not been confirmed by any competent authority. See Part I for the risk of reclassification.

F.2 Characteristics

F.2.1	Name / ticker	BaseGold / BG
F.2.2	Network	Base (Ethereum Layer 2 optimistic rollup), chain ID 8453
F.2.3	Standard	ERC-20 with the OpenZeppelin ERC20Burnable and Ownable extensions
F.2.4	Contract address	0x36b712A629095234F2196BbB000D1b96C12Ce78e (verified on basescan.org)
F.2.5	Decimals	18 (standard ERC-20 precision)
F.2.6	Total supply	10,000 BG minted in a single transaction at contract creation. The contract contains no mint function; no additional BG can ever be created. Circulating supply decreases as tokens are burned.
F.2.7	Digital token identifier (DTI)	[● to be obtained under ISO 24165, where applicable]
F.2.8	Related project contracts	Gold Vein referral: 0x5E4842ac8D7b37922366cb1b78259b9324915dBC • InstantBurn (buyback-and-burn treasury): 0xF9dc5A103C5B09bfe71cF1Badcce362827b34BFE • MineSwap contract suite and Mine Plot NFT contract: addresses published on basegold.io and basescan.org upon deployment [● complete at notification]

F.3 Supply architecture

The total supply of 10,000 BG is three orders of magnitude smaller than Bitcoin’s 21,000,000 cap. The table below states the arithmetic relationship between maximum supplies of well-known crypto-assets; it is a statement of fact about supply quantities only and implies nothing about relative or future value.

Comparative supply quantities. A small supply concentrates value per unit and concentrates risk per unit; it is not, by itself, a source of value. See Part I.

Asset	Maximum supply	Supply ratio relative to BG
Bitcoin (BTC)	21,000,000	2,100 × larger
Ethereum (ETH)	~120,000,000 (no fixed cap)	~12,000 × larger
BaseGold (BG)	10,000 (decreasing)	1 (baseline)

F.4 Deflationary mechanism (burns)

Burning permanently removes BG from circulation, either by invoking the token’s ERC20Burnable burn function (which destroys tokens and reduces the totalSupply state variable) or by transfer to the conventional unrecoverable burn address 0x000000000000000000000000000000000000dEaD. Every burn is recorded on-chain and is publicly verifiable and irreversible. The ecosystem contains six independent burn vectors:

1. Voluntary holder burns — any holder may burn their own BG at their discretion.
2. MineSwap buyback-and-burn — a portion of every MineSwap trading fee is used to market-buy BG and burn it (Part D.6.1).
3. Mine purchases — the 0.10 BG mine purchase includes a burn component at player onboarding.
4. Mine shop purchases — 100% of BG spent in The Mine’s shop is burned (Part D.6.2).
5. Gold Vein referral burns — 5% of every 0.10 BG activation fee is burned (Part D.6.3).
6. Golden Council protocol burns — governance may authorise periodic burn events of treasury-held or community-contributed tokens.

The supply trajectory of BG is therefore monotonically decreasing. The offeror does not commit to any particular rate of burning, and no burn mechanism should be understood as a commitment to support the price of BG.

Part GRights and Obligations Attached to the Crypto-Asset

G.1 Absence of claims

BG confers no right to repayment, redemption, interest, dividend, profit participation, ownership, or any other claim against the offeror, the issuer, or any other person. BG is not a deposit, not electronic money, not a security and not an insurance product. Holding BG creates no contractual relationship with the offeror other than as expressly described in this Part G. The sole direct rights of a BG holder are those embedded in and enforced by the relevant smart contracts.

G.2 Transferability

BG is a freely transferable ERC-20 token. The token contract imposes no transfer restrictions, whitelists, blacklists or transfer taxes. Transfers require payment of Base network gas fees and are subject to the operational availability of the Base network (see Parts H and I). Lock-up or vesting arrangements, if any, applicable to allocations held by the offeror and team: [● to be completed].

G.3 Utility rights within the ecosystem

• Mine purchase — 0.10 BG purchases a mine in The Mine and mints the buyer’s ERC-721 mine plot NFT, which the buyer owns outright and may transfer or sell.
• Shop purchases — BG is the exclusive means of payment for in-game items and upgrades; all BG so spent is burned.
• Referral participation — activated Gold Vein participants receive on-chain distributions from subsequent activations in their referral chain, per the schedule in Part D.6.3.
• Cashback claims — traders on MineSwap accrue claimable rebate balances in the Rebate contract.
• Governance — holding at least 1 BG confers membership of the Golden Council (Part G.4).

Access to these utilities depends on the continued operation of the relevant applications and contracts. The offeror may modify, suspend or discontinue applications (including The Mine and its seasons) as described in G.5, and utilities may be unavailable in some jurisdictions.

G.4 Governance rights

Any wallet holding at least 1 BG may participate in the Golden Council: submitting proposals, reviewing active votes and casting ballots through the DAO interface in The Mine application. Governance proposals may additionally weight voting power using reputation metrics recorded in mine plot NFT metadata, without excluding any holder meeting the 1 BG threshold. Golden Council resolutions concern protocol parameters (fee splits, rebate percentages, burn scheduling, treasury disbursements, partnership approvals). Except where a resolution is executed automatically by an on-chain governance mechanism, implementation of resolutions is carried out by the offeror acting on the outcome of the vote; the Golden Council is a protocol governance arrangement, not a legal partnership, company organ or fiduciary relationship, and does not entitle members to the offeror’s assets.

G.5 Modification of rights and of this white paper

Protocol parameters within the scope of governance may be changed by Golden Council vote. Application-level features (game content, seasons, shop items, anti-cheat rules) may be changed by the offeror. Where a change affects the information in this white paper in a way described in Article 12 of MiCA, the offeror will publish a modified crypto-asset white paper on https://basegold.io and notify it in accordance with MiCA. The immutable properties of the deployed token contract (fixed supply, burnability, absence of a mint function) cannot be changed by anyone.

G.6 Fees

Fees applicable to typical interactions with BG and the BaseGold ecosystem.

Interaction	Fee	Recipient / effect
Any Base-network transaction	Network gas fee (variable; typically below USD 0.01)	Base network operators / Ethereum data availability
MineSwap swap	0.30% of swap amount	0.15% to liquidity providers; 0.15% to Fee Distributor (buyback-and-burn + trader cashback)
Mine purchase (The Mine)	0.10 BG	Distributed 95% across the Gold Vein referral chain; 5% burned
Mine shop purchase	Item price in BG	100% burned
Third-party DEX swaps	Per venue (typically 0.25%–1%)	Per the relevant venue’s rules

G.7 Supply policy

No future issuance of BG is possible. The circulating supply can only decrease through the burn mechanisms described in Part F.4. The offeror gives no undertaking as to the rate, timing or continuation of burns.

Part HInformation on the Underlying Technology

H.1 Base network

BG is deployed on Base, a public, permissionless Ethereum Layer 2 network built on the OP Stack and developed by Coinbase. Base is an optimistic rollup: transactions are executed on the Layer 2 and batched to Ethereum, whose consensus and data availability secure the rollup’s state. Withdrawals from Base to Ethereum are subject to the optimistic challenge window (approximately seven days). Base offers low transaction costs (typically below USD 0.01) and confirmation times measured in seconds.

Sequencer. As is currently standard for OP Stack rollups, transaction ordering on Base is performed by a single sequencer operated by the network operator (Coinbase). Users retain the ability to submit transactions directly to Ethereum via the rollup’s inbox in case of sequencer unavailability or censorship, subject to delay and higher Layer 1 costs. Upgrades to Base’s bridge and protocol contracts are controlled by the Base/Optimism security model, which is outside the offeror’s control. See Part I for the associated risks.

H.2 Consensus mechanism

Base itself does not operate a standalone consensus mechanism; its security derives from Ethereum. Ethereum uses proof-of-stake (PoS) consensus: validators stake 32 ETH each, are pseudo-randomly selected to propose blocks, attest to the validity of blocks proposed by others, and face slashing (forfeiture of staked ETH) for provably malicious behaviour. Finality is achieved through the Casper FFG finality gadget combined with the LMD-GHOST fork-choice rule. PoS replaced Ethereum’s proof-of-work consensus in September 2022, reducing the network’s energy consumption by approximately 99.95% according to the Ethereum Foundation. Sustainability indicators are set out in Part J.

H.3 Token standards and contract architecture

The BG token contract is built on OpenZeppelin’s audited standard library, implementing ERC-20 with the ERC20Burnable and Ownable extensions. According to the verified source code published on BaseScan, the contract contains no mint function and no mechanism permitting any party, including the contract owner, to create additional tokens, freeze balances or confiscate user funds. The 10,000 BG supply was minted once at deployment. Prospective purchasers are encouraged to review the verified source code directly on basescan.org.

Mine plot NFTs are ERC-721 tokens with dynamic metadata that updates as gameplay progresses. The MineSwap exchange is a five-contract AMM suite (factory, router, pairs, fee distributor, rebate) following the constant-product model (x × y = k). The Gold Vein and InstantBurn contracts are deployed and verified on BaseScan at the addresses listed in Part F.2.8.

H.4 Security, audits and operational practices

• All deployed contracts are verified on BaseScan, enabling full public inspection of source code.
• Contracts are built on OpenZeppelin’s widely audited standard implementations.
• The MineSwap contract suite has undergone professional security review through Blockaid, with ongoing real-time monitoring for anomalous transaction patterns. Audit reports and their scope: [● reference or link to be completed].
• Administrative keys are secured on hardware devices; token transfers, fee distributions, rebate claims, NFT minting and burns execute through deterministic smart contract logic without administrative override of user funds.
• The web application stack (Next.js; wagmi and viem for wallet connectivity; Redis for game state; edge deployment) is operated with anti-cheat systems, including automated detection of scripted inputs and behavioural anomaly analysis.

No audit or review eliminates smart contract risk; see Part I.

Part IInformation on Risks

Purchasing, holding and using BG involves a high degree of risk. Prospective purchasers should carefully consider the following risk factors, which are material but not exhaustive. Additional risks not presently known to the offeror, or currently considered immaterial, may also impair the value or usability of BG. You could lose the entire amount you spend acquiring BG. Do not spend funds you cannot afford to lose.

I.1 Market and valuation risks

• Total loss. BG may lose its value in part or in full. There is no floor, no guarantee and no compensation scheme.
• Extreme volatility. Crypto-asset prices fluctuate severely. BG’s very small supply and market capitalisation amplify volatility: individual transactions of modest size can move the price materially.
• Micro-cap and manipulation risk. Thinly traded micro-capitalisation assets are more susceptible to price manipulation, pump-and-dump activity and disorderly price discovery. No market maker is engaged to stabilise the market, and MiCA’s market-abuse provisions may not, in practice, prevent manipulation on permissionless venues.
• Concentration of holdings. A majority of the supply is initially administered by the offeror across the allocation categories in Part D.7. Sales or deployments from these holdings, or by other large holders, could significantly depress the price. On-chain holdings are public, but the identity and intentions of large holders are not.
• Scarcity is not value. A fixed or shrinking supply does not by itself create or preserve value. Demand for BG may never materialise or may disappear, regardless of supply contraction.

I.2 Liquidity risks

• BG may not be liquid. Liquidity depends on voluntary liquidity providers in AMM pools. Liquidity providers may withdraw at any time, at which point BG could become impossible to sell at any reasonable price, or at all.
• Slippage and price impact. AMM execution incurs price impact that grows with trade size relative to pool depth. Given BG’s small supply, even moderate orders may execute at prices far from the quoted spot price.
• Venue risk. BG currently trades on permissionless decentralised venues only. There is no assurance of any centralised exchange listing, and any venue may delist, fail, be exploited or become inaccessible.
• Transferability limits. BG may not always be transferable, for example during Base network outages, sequencer downtime or congestion events.

I.3 Technology risks

• Smart contract risk. The BG token, MineSwap, Gold Vein, InstantBurn and NFT contracts may contain undiscovered vulnerabilities. Exploits could result in the loss of user funds, liquidity pool reserves or accrued rewards. Audits and reviews reduce but do not eliminate this risk.
• Layer 2 / rollup risk. Base relies on a single sequencer operated by Coinbase; sequencer failure or censorship can delay or prevent transactions. Rollup bridge and protocol contracts are upgradable under the Base/Optimism security model outside the offeror’s control; a defect or malicious upgrade at that layer could affect all assets on Base, including BG. Forced exits to Ethereum are possible but slow and comparatively expensive.
• Ethereum risk. A failure, attack or contentious change at the Ethereum consensus or data-availability layer would affect Base and BG.
• MEV and AMM-specific attacks. Swaps may be subject to sandwich attacks and other maximal-extractable-value strategies, worsening execution prices.
• Self-custody risk. BG is held in self-custodied wallets. Loss of private keys, phishing, malware or signing malicious transactions results in irreversible loss. No party can restore lost keys or reverse transactions.
• Off-chain infrastructure. The Mine’s game state, leaderboards and web applications depend on centralised infrastructure (hosting, databases, domain names). Outages, data loss or compromise could disrupt gameplay, metadata updates and airdrop calculations.

I.4 Project and operational risks

• Dependence on a small team. The project depends on a small number of contributors. Loss of key persons, funding shortfalls or abandonment of the project would materially impair or end the utility of BG.
• Discontinuation of features. The Mine (including seasons, tournaments, prize pools and the shop), MineSwap parameters, airdrops and other features may be modified, suspended or discontinued. Utility promised in this white paper may become unavailable, especially in the case of failure or discontinuation of the project.
• NFT value risk. Mine plot NFTs may have no market value. Metadata recording gameplay does not create any entitlement to value; third-party marketplaces may delist or cease operating.
• Roadmap risk. All roadmap items (including DeFi lending integration, staking, tokenised real-world-asset pairs, merchant integrations and any exchange listings) are non-binding intentions that depend on third parties and may never occur. No agreement with any named third party exists unless expressly stated [● confirm status of any listing or integration agreements].
• Third-party dependence. The ecosystem depends on third parties including Coinbase (Base), OpenSea, DEX operators, data aggregators, RPC providers and hosting providers, none of whom endorse BG or owe duties to BG holders.

I.5 Referral programme risks

• Dependence on new participants. Gold Vein rewards are funded solely by new activation fees. If new activations slow or stop, rewards diminish to zero. Early or upstream participants receive proportionally more than later participants for the same activation fee.
• No income promise. Projections or calculators illustrating potential referral rewards are hypothetical tools only. Most participants may receive little or nothing. Gold Vein is not employment, not an investment scheme and not a source of guaranteed income.
• Regulatory characterisation. Multi-level referral structures are restricted or regulated in some jurisdictions. Adverse characterisation could require modification or termination of Gold Vein in some or all jurisdictions.

I.6 Governance risks

• Low participation and capture. Golden Council proposals may pass with low turnout, and holders of large balances (including the offeror’s treasury allocations) may exert decisive influence over outcomes.
• Execution trust. Except where executed automatically on-chain, implementation of governance outcomes depends on the offeror. Governance participation confers no enforceable claim to have a resolution implemented.
• Parameter changes. Governance may change fee splits, rebate rates and burn scheduling in ways that disadvantage particular participants.

I.7 Legal, regulatory and tax risks

• Regulatory status. This white paper has not been approved by any competent authority, and notification under Article 8 of MiCA is pending completion of the items marked in this document. Competent authorities may require changes to this white paper, to the offer, or to ecosystem features, or may restrict or prohibit the offer.
• Reclassification risk. If BG or any ecosystem component were held to be a financial instrument, an asset-referenced token, a regulated game-of-chance or another regulated product in any jurisdiction, the offeror could be required to restrict features, restrict access from affected jurisdictions, or cease activities, and holders could face restrictions on transfer or use.
• Jurisdictional restrictions. BG and ecosystem features are not available where prohibited. Purchasers are responsible for their own compliance; access from restricted jurisdictions may be curtailed at any time.
• Tax. Acquiring, holding, using, burning and disposing of BG, receiving referral rewards, cashback, airdrops or tournament prizes, and trading NFTs may each have tax consequences that vary by jurisdiction. Holders should obtain independent tax advice. The offeror does not withhold or report taxes on holders’ behalf except where legally required.
• No compensation schemes. BG is not covered by the investor compensation schemes under Directive 97/9/EC or the deposit guarantee schemes under Directive 2014/49/EU.

I.8 Conflicts of interest and sustainability-related risks

• Conflicts. The conflicts described in Part E.11 (team token holdings, liquidity provision, operation of fee-generating infrastructure, participation in referral chains) may incentivise decisions that do not align with the interests of other holders.
• Environmental and ESG policy risk. Although the energy footprint attributable to BG is low (Part J), future environmental regulation of crypto-assets, or changes to the underlying networks, could affect costs, availability or perception of BG.

Part JInformation on the Consensus Mechanism and Sustainability Indicators

This Part provides information on the principal adverse impacts on the climate, and other environment-related adverse impacts, of the consensus mechanism used to issue BG, as required by Article 6(1), point (j), of MiCA and the regulatory technical standards on sustainability indicators adopted pursuant to Article 6(12) of MiCA.

J.1 Consensus mechanism used to issue BG

BG was issued and operates on Base, an optimistic rollup that does not run its own consensus mechanism: Base batches transaction data to Ethereum, and Ethereum’s proof-of-stake (PoS) consensus provides settlement and data availability. The energy profile relevant to BG therefore consists of (i) the Ethereum PoS validator network, (ii) the Base sequencer and supporting node infrastructure (conventional cloud data-centre workloads), and (iii) the marginal computation of BG-related transactions on that existing infrastructure.

Three structural facts limit the adverse environmental impact of BG:

• No proof-of-work mining. Neither Base nor Ethereum uses energy-intensive mining. Ethereum’s transition to PoS in September 2022 reduced its electricity consumption by approximately 99.95% (source: Ethereum Foundation, ethereum.org/energy-consumption).
• No dedicated infrastructure. BG’s issuance was a single contract deployment on existing networks. No additional validators, nodes or facilities were or are operated for BG; BG activity is a de minimis marginal load on infrastructure that operates regardless of BG.
• No issuance rewards. BG has no mining or staking emissions of its own; its incentive mechanisms (fees, burns, referral distributions) are ordinary smart-contract transactions.

J.2 Sustainability indicators

The figures below are third-party estimates for the underlying networks as a whole, stated for the reference period. They are presented on a network-wide basis because BG transactions constitute a very small fraction of total network activity; the impact attributable to BG is correspondingly a very small fraction of the network-wide figures.

Sustainability indicators for the consensus mechanism underlying BG. All values are estimates derived from the cited public sources as at the document date; they are not measurements by the offeror. Final presentation will follow the mandatory templates of the regulatory technical standards adopted pursuant to Article 6(12) of MiCA at notification.

#	Indicator	Value (estimate)	Notes and sources
S.1	Crypto-asset / issuance mechanism	BaseGold (BG) — issued by smart contract deployment on Base (Ethereum Layer 2)	No native consensus; settles to Ethereum proof-of-stake
S.2	Reference period	1 January 2025 – 31 December 2025	To be updated at least annually and upon notification
S.3	Energy consumption — Ethereum network (total)	Approximately 6,000,000 kWh (6 GWh) per year	Published estimates range from approximately 2.6 to 6.6 GWh per year depending on methodology and validator count (sources: Crypto Carbon Ratings Institute (CCRI) indices; ethereum.org)
S.4	Energy consumption — Base sequencer and node infrastructure	Estimated below 500,000 kWh per year	Offeror’s good-faith order-of-magnitude estimate for a single-operator cloud deployment; no official figure is published by the network operator
S.5	Share of renewable energy	Estimated 30%–40%	Validators are globally distributed across consumer and cloud infrastructure; no authoritative validator-level electricity-mix data exists. Estimate applies world-average grid mix (source: IEA world electricity mix)
S.6	Energy intensity (per Ethereum L1 transaction)	Approximately 0.014 kWh per transaction	Network consumption divided by annual L1 transaction count (approx. 430 million)
S.7	Energy intensity (per Base L2 transaction, incl. BG transfers)	Below 0.001 kWh per transaction	L2 transactions are batched; per-transaction share of sequencer and data-availability energy is materially lower than L1
S.8	Scope 1 GHG emissions (DLT)	Approximately 0 tCO2e	Validators and sequencers consume grid electricity; there is no direct fuel combustion attributable to the networks
S.9	Scope 2 GHG emissions (DLT, location-based)	Approximately 2,000–3,000 tCO2e per year (Ethereum network-wide)	Source: CCRI estimates for Ethereum PoS; varies with validator count and grid mix
S.10	GHG intensity	Approximately 0.006 kgCO2e per L1 transaction; materially lower per L2 transaction	Derived from S.6 and S.9
S.11	Comparison	Ethereum PoS consumes roughly 0.005% of the electricity of a large proof-of-work network	Bitcoin proof-of-work estimates exceed 100 TWh per year (Cambridge CBECI); Ethereum PoS is approximately 6 GWh per year

J.3 Methodology and limitations

Energy and emissions figures for permissionless networks are necessarily estimates: validator hardware, locations and electricity mixes are not centrally recorded. The sources used (CCRI, the Ethereum Foundation, the Cambridge Centre for Alternative Finance, IEA world grid-mix data) apply bottom-up hardware modelling and node-distribution sampling. Figures will be reviewed and restated at least annually, and upon any material change to the underlying networks. Adverse impacts other than energy and GHG emissions (for example hardware waste from validator equipment) are estimated to be immaterial at the scale attributable to BG, because BG adds no dedicated hardware to the underlying networks.

Information about this White Paper

Format and availability

• This crypto-asset white paper is published in machine-readable XHTML format at https://basegold.io/whitepaper.xhtml and is downloadable free of charge. A PDF convenience copy generated from the same content is available at https://basegold.io/whitepaper.pdf. In the event of any discrepancy, the XHTML version prevails.
• Marking up of this white paper in accordance with the applicable ESMA taxonomy (Inline XBRL) will be completed as part of the notification process under Article 8 of MiCA, using the standard forms, formats and templates required by the implementing technical standards adopted pursuant to Article 6(11) of MiCA.
• Language of this white paper: English. Translations, where published, are provided for convenience; the English version prevails.
• This white paper will remain available on https://basegold.io for as long as BG is held by the public, and in any event for the period required by Article 9 of MiCA.

Version history

Version history of the BaseGold white paper.

Version	Date	Description
2.0	February 2026	Technical Whitepaper: protocol architecture, token economics, ecosystem design (superseded; technical content carried into Parts D, F, G and H of this document)
3.0	25 August 2026	Restructured as a crypto-asset white paper in accordance with Title II of MiCA: added mandatory statements and warnings, summary, Parts A–J including offer information, rights and obligations, risk factors and sustainability indicators; converted to machine-readable XHTML

Glossary

AMM	Automated market maker — a smart contract holding paired token reserves that prices swaps algorithmically (here, by the constant-product formula x × y = k) instead of using an order book.
Burn	The permanent, irreversible destruction of tokens, either via a contract function that reduces total supply or by transfer to an unrecoverable address.
DEX	Decentralised exchange — a trading venue implemented as smart contracts, used non-custodially from the user’s own wallet.
DLT	Distributed ledger technology — the class of technologies (including blockchains) underlying crypto-assets.
ERC-20 / ERC-721	Ethereum token standards for fungible tokens (ERC-20) and non-fungible tokens (ERC-721).
Gas	The network fee paid for executing a transaction on Ethereum or Base.
Layer 2 / rollup	A network that executes transactions off the main chain (Layer 1) and periodically posts data or proofs to it, inheriting its security. An optimistic rollup assumes batches are valid unless challenged within a dispute window.
MiCA	Regulation (EU) 2023/1114 on markets in crypto-assets.
Proof-of-stake (PoS)	A consensus mechanism in which validators secure the network by staking tokens, replacing energy-intensive mining.
Sequencer	The operator component of a rollup that orders and batches transactions before posting them to the Layer 1.
Slippage / price impact	The difference between the expected and executed price of a swap, which grows with trade size relative to pool liquidity.
Self-custody	Holding crypto-assets under one’s own private keys, without a custodian.

Legal Notices

No advice. This document is a disclosure document required by MiCA. It does not constitute financial, legal, tax or investment advice, nor a recommendation to purchase BG. Prospective purchasers should conduct independent research and consult qualified advisers before acquiring crypto-assets.

No future-value assertions. Nothing in this white paper asserts or implies any future value of BG. Statements about supply mechanics, burns and scarcity are statements about token quantity only.

Forward-looking statements. Statements regarding planned features, integrations, listings and roadmap items reflect current intentions of the offeror, involve known and unknown risks and uncertainties, are not commitments, and may change or be abandoned without notice.

Marketing communications. Marketing communications concerning BG (including the basegold.io website and social channels) are identifiable as such, are consistent with the information in this white paper, and state that this white paper has not been approved by any competent authority. In the event of inconsistency between any marketing communication and this white paper, this white paper prevails.

Intellectual property. © 2026 BaseGold Foundation. All rights reserved. This white paper and its contents, including the MineSwap, The Mine, Gold Vein and Golden Council names and systems, are the property of the offeror. Reproduction of this white paper unaltered and in full for informational purposes is permitted; any other reproduction, adaptation or distribution requires prior written permission.

Liability. The offeror is responsible for the content of this crypto-asset white paper in accordance with Article 15 of MiCA. Nothing in this document excludes or limits any liability that cannot be excluded or limited under applicable law.