THAT: Putting the Currency in Crypto

ABSTRACT

THAT is part of a broader effort to help people, businesses, organizations and, where appropriate, government entities benefit from the use of digital assets. Despite years of innovation and growth, most cryptocurrencies remain difficult to use in everyday life. The industry has largely focused on infrastructure—throughput, consensus, interoperability, and on-chain programmability—while mainstream users and businesses still struggle to use digital assets as a simple, reliable means of payment. Many digital assets trade primarily as speculative instruments, and limited independent merchant acceptance has rendered the original vision set out by Satoshi Nakamoto in the Bitcoin whitepaper—a “peer-to-peer electronic cash system” for payments—largely unrealized.

THAT takes a different approach. The project focuses on usability and non-custodial tooling that helps users interact with public blockchains in familiar, everyday contexts. THAT is a fixed-supply crypto asset designed to support straightforward, on-chain transfers between people and independent merchants who choose to use digital assets directly, and is not promoted on the basis of hype or speculation.

The purpose of this document is to describe the technical and issuance characteristics of THAT within a factual and practical context. It is not financial product advice and is not intended to market or promote THAT as an investment product or as a vehicle for generating income, yield, or returns.

OVERVIEW

THAT is a plain-vanilla, general-purpose crypto asset that exists solely as a token on public blockchain infrastructure. It is intended to function in broadly the same way as other widely used digital assets such as bitcoin (BTC), ether (ETH), and SOL. Like those assets, THAT can be transferred directly on-chain between blockchain addresses controlled by different parties, without going through a financial institution or intermediary.

Independent non-custodial wallet software and interfaces, including tools developed by the Company, may allow users to view balances and prepare, sign, and broadcast transactions involving THAT. Non-custodial tools do not receive or hold users’ assets, do not operate pooled accounts or stored-value balances, and do not act as a custodian, counterparty, or central operator for transfers. All transfers occur as standard blockchain transactions executed and settled by the underlying networks themselves, not by the Company or non-custodial interfaces.

THAT may be used by people who choose to transact on public blockchains and, in some cases, by independent merchants who choose to accept digital assets directly on-chain as consideration for goods and services. Any such use is discretionary and occurs between the parties involved; the Company does not operate a payment facility, clearing or settlement system for these transactions.

WHAT THAT IS NOT

THAT does not provide:

• any right to redeem tokens at a fixed or “par” value

• any entitlement to dividends, yield, income or other distributions

• governance, voting or control rights over a pooled enterprise or entity

• any interest in, or right to share in profits of, a pooled enterprise, fund or scheme

• any right to be repaid capital or to receive any particular return.

Acquiring THAT does not involve contributing money or money’s worth to the Company to be used in a common enterprise with an expectation that the Company will generate financial returns or other benefits for token holders.

The Company does not make any representation or promise about future price performance, adoption, usage, or returns. The value of THAT is determined purely by the market, based on the normal interplay of supply and demand. There is no inherent or guaranteed value that can be attributed to THAT using traditional financial modeling, and no assurance that the token will retain or increase its value over time.

Neither THAT nor tools developed by the Company are designed to establish any account, stored-value balance, or standing arrangement with the Company under which it receives, holds, transfers, or settles funds or digital assets between users or merchants, nor to operate as a non-cash payment facility, managed investment scheme, security, derivative, or other financial product.