2024-01-01 2024-12-31

Freestyle MiCAR Whitepaper

FreeStyle MiCAR White Paper

IN ACCORDANCE WITH

TITLE II OF REGULATION (EU) 2023/1114

Table of Contents

  1. Information about the Person Seeking Admission to Trading
    1. A.1 Name
    2. A.2 Legal Form
    3. A.3 Registered address
    4. A.4 Head office
    5. A.5 Registration Date
    6. A.6 Legal entity identifier
    7. A.7 Another identifier required pursuant to applicable national law
    8. A.8 Contact telephone number
    9. A.9 E-mail address
    10. A.10 Response Time (Days)
    11. A.11 Parent Company
    12. A.12 Members of the Management body
    13. A.13 Business Activity
    14. A.14 Parent Company Business Activity
    15. A.15 Newly Established
    16. A.17 Financial condition since registration
  2. Information about the issuer, if different from the offeror or person seeking admission to trading
    1. B.1 Issuer Information
    2. B.2 Name
    3. B.3 Legal Form
    4. B.4 Registered address
    5. B.5 Head office
    6. B.6 Registration Date
    7. B.7 Legal entity identifier
    8. B.8 Another identifier required pursuant to applicable national law
    9. B.9 Parent Company
    10. B.10 Members of the Management Body
    11. B.11 Business Activity
    12. B.12 Parent Company Business Activity
  3. 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
    1. C.1 Name
    2. C.2 Legal Form
    3. C.3 Registered address
    4. C.4 Head office
    5. C.5 Registration Date
    6. C.6 Legal entity identifier of the operator of the trading platform
    7. C.7 Another identifier required pursuant to applicable national law
    8. C.8 Parent Company
    9. C.9 Reason for Crypto-Asset White Paper Preparation
    10. C.10 Members of the Management body
    11. C.11 Operator Business Activity
    12. C.12 Parent Company Business Activity
    13. C.13 Other persons drawing up the crypto- asset white paper according to Article 6(1), second subparagraph, of Regulation (EU) 2023/1114
    14. C.14 Reason for drawing the white paper by persons referred to in Article 6(1), second subparagraph, of Regulation (EU) 2023/1114
  4. Information about the Crypto-Asset Project
    1. D.1 Crypto-asset project name
    2. D.2 Crypto-assets name
    3. D.3 Abbreviation
    4. D.4 Crypto-asset project description
    5. D.5 Details of all natural or legal persons involved in the implementation of the crypto-asset project
    6. D.6 Utility Token Classification
    7. D.7 Key Features of Goods/Services for Utility Token Projects
    8. D.8 Plans for the token
    9. D.9 Resource Allocation
    10. D.10 Planned Use of Collected Funds or Crypto-Assets
  5. Information about the Admission to Trading
    1. E.1 Public Offering or Admission to trading
    2. E.2 Reasons for Public Offer or Admission to trading
    3. E.3 Fundraising Target
    4. E.4 Minimum Subscription Goals
    5. E.5 Maximum Subscription Goal
    6. E.6 Oversubscription Acceptance
    7. E.7 Oversubscription Allocation
    8. E.8 Issue Price
    9. E.9 Official currency or any other crypto- assets determining the issue price
    10. E.10 Subscription fee
    11. E.11 Offer Price Determination Method
    12. E.12 Total Number of Offered/Traded Crypto- Assets
    13. E.13 Targeted Holders
    14. E.14 Holder restrictions
    15. E.16 Refund Mechanism
    16. E.17 Refund Timeline
    17. E.18 Offer Phases
    18. E.19 Early Purchase Discount
    19. E.20 Time-limited offer
    20. E.21 Subscription period beginning
    21. E.22 Subscription period end
    22. E.23 Safeguarding Arrangements for Offered Funds/Crypto-Assets
    23. E.24 Payment Methods for Crypto-Asset Purchase
    24. E.25 Value Transfer Methods for Reimbursement
    25. E.26 Right of Withdrawal
    26. E.27 Transfer of Purchased Crypto-Assets
    27. E.28 Transfer Time Schedule
    28. E.29 Purchaser's Technical Requirements
    29. E.30 Crypto-asset service provider (CASP) name
    30. E.31 CASP identifier
    31. E.32 Placement form
    32. E.33 Trading Platforms name
    33. E.34 Trading Platforms Market Identifier Code (MIC)
    34. E.35 Trading Platforms Access
    35. E.36 Involved costs
    36. E.37 Offer Expenses
    37. E.38 Conflicts of Interest
    38. E.39 Applicable law
    39. E.40 Competent court
  6. Information about the Crypto-Assets
    1. F.1 Crypto-Asset Type
    2. F.2 Crypto-Asset Functionality
    3. F.3 Planned Application of Functionalities
    4. F.4 Type of white paper
    5. F.5 The type of submission
    6. F.6 Crypto-Asset Characteristics
    7. F.7 Commercial name or trading name
    8. F.8 Website of the issuer
    9. F.9 Starting date of offer to the public or admission to trading
    10. F.10 Publication date
    11. F.11 Any other services provided by the issuer
    12. F.12 Language or languages of the white paper
    13. 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
    14. F.14 Functionally Fungible Group Digital Token Identifier, where available
    15. F.15 Voluntary data flag
    16. F.16 Personal data flag
    17. F.17 LEI eligibility
    18. F.18 Home Member State
    19. F.19 Host Member States
  7. Information on the rights and obligations attached to the crypto-assets
    1. G.1 Purchaser Rights and Obligations
    2. G.2 Exercise of Rights and obligations
    3. G.3 Conditions for modifications of rights and obligations
    4. G.4 Future Public Offers
    5. G.5 Issuer Retained Crypto-Assets
    6. G.6 Utility Token Classification
    7. G.7 Key Features of Goods/Services of Utility Tokens
    8. G.8 Utility Tokens Redemption
    9. G.9 Non-Trading request
    10. G.10 Crypto-Assets purchase or sale modalities
    11. G.11 Crypto-Assets Transfer Restrictions
    12. G.12 Supply Adjustment Protocols
    13. G.13 Supply Adjustment Mechanisms
    14. G.14 Token Value Protection Schemes
    15. G.15 Token Value Protection Schemes Description
    16. G.16 Compensation Schemes
    17. G.17 Compensation Schemes Description
    18. G.18 Applicable law
    19. G.19 Competent court
  8. Information on the Underlying Technology
    1. H.1 Distributed ledger technology
    2. H.2 Protocols and technical standards
    3. H.3 Technology Used
    4. H.4 Consensus Mechanism
    5. H.5 Incentive Mechanisms and Applicable Fees
    6. H.6 Use of Distributed Ledger Technology
    7. H.7 DLT Functionality Description
    8. H.8 Audit
    9. H.9 Audit outcome
  9. Information on Risks
    1. I.1 Offer-Related Risks
    2. I.2 Issuer-Related Risks
    3. I.3 Crypto-Assets-related Risks
    4. I.4 Project Implementation-Related Risks
    5. I.5 Technology-Related Risks
    6. I.6 Mitigation measures
  10. Information on the sustainability indicators in relation to adverse impact on the climate and other environment-related adverse impacts
    1. S.1 Name
    2. S.2 Relevant legal entity identifier
    3. S.3 Name of the crypto-asset
    4. S.4 Consensus Mechanism
    5. S.5 Incentive Mechanisms and Applicable Fees
    6. S.6 Beginning of the period to which the disclosure relates
    7. S.7 End of the period to which the disclosure relates
    8. S.8 Energy consumption
    9. S.9 Energy consumption sources and methodologies
01. Date of Notification: 2025-10-16

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 Kairox Lab Ltd., 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 Purchasers of $FST tokens acquire the right to hold, transfer, and use them within the FreeStyle Classic ecosystem for in-game activities and trading on supported platforms. Purchasers are obliged to comply with applicable laws and are responsible for safeguarding their own wallets and private keys. Rights are exercised through standard blockchain transactions using a compatible wallet for transfers, or by connecting a wallet to the FreeStyle Classic platform to use the token's in-game utility. The token does not grant any ownership, shareholder, or dividend rights. The fundamental rights to hold and transfer $FST are embedded in its smart contract and cannot be unilaterally modified. However, other rights and obligations related to its utility may change due to updates to the FreeStyle Classic ecosystem, amendments in laws and regulations, or changes in exchange policies. Any such modifications will be communicated through official channels.
09. Utility Token Summary The $FST token grants access to goods and services within the FreeStyle Classic gaming ecosystem. It is used to purchase in-game items and season passes, participate in competitive events, and serves as the primary currency for minting and trading NFTs. The token also allows holders to stake for rewards and gain access to exclusive content and events. The total supply is 1 billion $FST. Tokens are freely transferable on-chain, although transferability is restricted for certain allocations (e.g., team, advisors, investors) through contractual lock-up and vesting schedules.
10. Key Information About the Admission to Trading No public offer of FreeStyle Classic ($FST) tokens is being made in connection with this disclosure. This document concerns the admission to trading of the token. Accordingly, there is no subscription period, issue price, or associated fundraising activity. The admission of $FST to trading is intended to provide liquidity, transparent price discovery, and secure market access for community members. Admission to trading is being sought on the Kraken trading platform. No crypto-asset service provider has been appointed to place the token.

A. Information about the Person Seeking Admission to Trading

A.1 Name: Kairox Lab Ltd.
A.2 Legal Form: 6EH6
A.3 Registered address: OMC Chambers, Wickhams Cay 1, Road Town, VG1110, VG
A.4 Head office: N/A
A.5 Registration Date: 2025-05-25
A.6 Legal entity identifier: N/A
A.7 Another identifier required pursuant to applicable national law: Republic of Korea
A.8 Contact telephone number: N/A
A.9 E-mail address: support@kairoxlab.me
A.10 Response Time (Days): 005
A.11 Parent Company: RNK FOUNDATION
A.12 Members of the Management body:
Name Business Function Business Address
Ivan Chung Director Seoul, South Korea
A.13 Business Activity: Kairox Lab Ltd. is a special-purpose vehicle (SPV) incorporated on 26 May 2025 under the laws of the British Virgin Islands (BVI).

The company was established for the issuance, administration, and compliance management of the $FST (FreeStyle Classic Token), a utility crypto-asset forming part of the FreeStyle Classic Web3 gaming ecosystem.

The core business activities of Kairox Lab Ltd. include:

Token Issuance and Administration: Acting as the formal issuer of the $FST token, responsible for the creation, registration, and documentation of the token supply in accordance with relevant regulations.

Regulatory Compliance and Documentation: Preparing and maintaining the necessary disclosures, filings, and MiCAR-compliant documentation related to $FST, including whitepaper registration and information updates.

Ecosystem Oversight and Governance: Holding contractual and administrative rights associated with $FST, ensuring that the token issuance and any subsequent admission to trading remain aligned with applicable legal and governance standards.

Exchange Coordination: Engaging with centralized and decentralized trading platforms for the technical and administrative process of token admission to trading (e.g., Kraken, Binance Alpha, Gate.io, MEXC, KuCoin).

The company does not engage in commercial, trading, or revenue-generating activities, nor does it operate any financial services, exchanges, or custodial platforms.

Its role is strictly limited to token governance, documentation maintenance, and regulatory compliance under the FreeStyle Classic ecosystem framework.

Kairox Lab Ltd. therefore functions as an issuer entity, designed to ensure the transparency, regulatory alignment, and legal segregation of token issuance from broader operational or commercial activities conducted at the group level.
A.14 Parent Company Business Activity: The parent entity, RnK Foundation, is a Private Interest Foundation established under the laws of the Republic of Panama. Its purpose is to act as a holding and governance vehicle, managing and overseeing the ownership and strategic interests of its affiliated entity which is Kairox Lab Ltd.
A.15 Newly Established: false
A.17 Financial condition since registration: The issuer, Kairox Lab Ltd., was incorporated on 26 May 2025 in the British Virgin Islands (BVI) as a special-purpose vehicle (SPV) established exclusively for the issuance and administration of the $FST token within the FreeStyle Classic ecosystem.

Summary of Financial Condition:
Since its incorporation, Kairox Lab Ltd. has not engaged in any financial, commercial, or operational activities.
The company has no bank accounts, assets, liabilities, revenues, or expenditures and remains non-operational.
It performs only administrative functions related to token issuance and does not carry out business or financial transactions in its own name.

Ownership and Governance Structure:
Kairox Lab Ltd. is wholly owned by RnK Foundation (Panama), which acts as the issuer's parent and governance entity.
The relationship is limited to corporate ownership and oversight, without any direct financial guarantees, capital commitments, or funding arrangements.
All broader project-level or ecosystem-related activities are managed independently at the group level.

Historical and Interim Financial Data:
As the company was incorporated in May 2025 and has not conducted any financial activity, no historical or interim financial statements exist at this stage.
Once the entity engages in any transactions or accounting-relevant activities, financial statements will be prepared in accordance with IFRS-compliant accounting standards.

Review of Business Development and Financial Position:
Since registration, Kairox Lab Ltd. has maintained a dormant financial position, consistent with its role as a limited-purpose token-issuing entity.
There have been no borrowings, no outstanding obligations, and no contingent liabilities since incorporation.
The company's legal and organizational structure is intentionally designed to segregate token issuance from commercial operations, supporting regulatory transparency and risk isolation.

Conclusion:
Kairox Lab Ltd. remains solvent and compliant, with no exposure to debt, liquidity, or commercial risks.
Its simple, non-operational structure ensures clarity in financial responsibility and aligns with MiCAR's principles of prudence, solvency, and transparency for crypto-asset issuers.

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: FreeStyle Classic
D.2 Crypto-assets name: FreeStyle Classic Token
D.3 Abbreviation: FST
D.4 Crypto-asset project description: FreeStyle Classic is the Web3 evolution of the globally renowned FreeStyle basketball franchise, integrating blockchain to deliver seamless, competitive gameplay for hundreds of millions of loyal players. With UX-first tokenomics and game-native utility, it empowers a new tokenomics where skill, ownership, and community drive lasting value.
D.5 Details of all natural or legal persons involved in the implementation of the crypto-asset project:
Name Business Function Business Address
Ivan Chung Director Seoul, South Korea
D.6 Utility Token Classification: true
D.7 Key Features of Goods/Services for Utility Token Projects:

  • Flagship Web3 basketball game built on the globally renowned FreeStyle IP with a legacy of over 200 million players—predominantly from Greater China and APAC followed by the US.

  • Real-time PvP gameplay with deep character customization, skill-based ranking systems, and highly competitive dynamics.

  • Seamless Web2-to-Web3 onboarding experience designed to drive true mass adoption through familiar gameplay and intuitive UX.

  • Sustainable and productive tokenomics and in-game utility enabling earning, spending, and reinvesting—all within a sustainable player-driven economy.

  • Multi-chain infrastructure supported by strategic partnerships with leading mainnet partners including BNB, Avalanche, Arbitrum, Soneium and KAIA—backed by their full technical and promotional support.

  • Scalable integration of future technologies such as NFTs, AI and more, offering limitless expansion potential across gaming and beyond.

  • Robust IP ownership enables diverse Web3 business models and high-impact collaborations with our top-tier partners and other cultural brands.

  • Community-first ecosystem where skill, ownership, and social identity converge to create lasting value and engagement.
D.8 Plans for the token:

[Past Milestones]

  • Team formation & strategic alignment (Q2 2024) — We assembled a highly specialized team of professionals with proven success in gaming, blockchain, IP business, and product design. From core leadership to engineers and creatives, the entire team is fully committed and aligned under a long-term vision for FreeStyle Classic.
  • Game DNA analysis & Web3 adaptation planning (Q2–Q3 2024) — Conducted a deep analysis of the original FreeStyle franchise—identifying the core gameplay mechanics, PvP intensity, and customization elements that drove engagement. This informed our Web3-native design principles, ensuring we preserve what players love while introducing new value layers through blockchain.
  • Token & tokenomics architecture (Q3 2024 – Q1 2025) — Designed a performance-driven utility token with UX-first mechanics and built-in sustainability. Carefully mapped out token flows between on-chain and off-chain systems, with anti-inflationary design and player-aligned incentives.
  • Point system & benefit framework (Q4 2024 – Q1 2025) — Developed a Web2-friendly off-chain point system convertible into on-chain benefits. This bridges traditional gamers into Web3 without requiring prior crypto knowledge, while supporting engagement and loyalty.
  • Game & smart contract development (Ongoing since Q4 2024) — Active development of the game and smart contracts, including NFT logic, wallet integration, and blockchain-based reward mechanisms. Core gameplay systems are in final refinement phases.
  • Website & dashboard development (Q1–Q2 2025) — Launched a comprehensive website and user dashboard to support onboarding, staking, and token utilities—optimized for both Web2 ease-of-use and Web3 transparency.
  • Community launch & early activation (Q2 2025) — Rolled out global community channels and began activation across Korea, China, Japan, and Southeast Asia. Key opinion leaders (KOLs), guilds, and early backers began social amplification with strong early traction.

[Future Milestones]

  • Q3 2025
    • Beta ver. of FreeStyle Classic disclosure
    • Token Generation Event (TGE) & token launch on BNB Chain
    • Launch of NFT assets (Club, Game Items) and marketplace support
  • Q4 2025
    • Official game launch on BNB Chain
    • Multi-chain bridging to BNB, Avalanche, Arbitrum, KAIA, Soneium and others
    • First wave of IP collaborations and ecosystem reward campaigns
    • Start of ranked league system and performance-based Web3 rewards
  • 2026
    • Regional expansion across global markets
    • Launch of governance framework
    • Integration of AI, NFTs, and innovative utilities into the broader gameplay and economy
D.9 Resource Allocation:

We conducted a single fundraising round over an extended period, raising a total of USD 2.4 million at a valuation of USD 30 million. Investors were allocated a total of 8% of the token supply, with standard terms applied across all participants and no additional discounts granted beyond the agreed valuation.

Participants in this round include Chain Capital ($300K), Kaia ($500K), Ternary ($700K), Animoca Brands ($100k), GMB ($500K), DWF Labs($50k), YGG ($150K), Guild QB ($50K), and RFD Capital ($50K). All allocations are subject to a lock-up and vesting schedule, which has been provided in the above token distribution plan. 
D.10 Planned Use of Collected Funds or Crypto-Assets:
  • Monthly Operation: $50,000
  • Listing Fees: $800,000
  • Marketing & Events: $500,000
  • Game Development & Ecosystem Management: $700,000

Total: $2,050,000

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 admission of $FST to trading is intended to provide transparent price discovery, liquidity, and secure market access for community members. As $FST serves as the utility token of the FreeStyle Classic ecosystem, exchange trading enables players and stakeholders worldwide to seamlessly acquire, use, and transfer tokens within a regulated environment. Admission to trading therefore enhances accessibility, fosters ecosystem growth, and supports investor protection through transparent and compliant secondary market infrastructure.
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: 1000000000
E.13 Targeted Holders: ALL
E.14 Holder restrictions: No
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: $FST may be purchased through trading pairs provided by the listing exchanges, primarily against major crypto-assets such as USDT, USDC, BTC, ETH, or BNB. Fiat currency purchases may also be available depending on the exchange’s on-ramp services.
E.25 Value Transfer Methods for Reimbursement: Reimbursements, if applicable, are made using the same method of payment originally used for purchase, typically via major crypto-assets (e.g., USDT, USDC, BTC, ETH, or BNB). Fiat reimbursement through bank transfer may also be arranged where required by applicable regulation.
E.26 Right of Withdrawal: N/A
E.27 Transfer of Purchased Crypto-Assets: The transfer of purchased $FST tokens to holders is executed on-chain through the ERC-20 smart contract deployed on the relevant blockchain. Upon purchase, tokens are delivered directly to the wallet address designated by the purchaser, ensuring transparent and verifiable settlement on the public ledger. When tokens are obtained via a centralized exchange, they are first credited to the user’s exchange account and may subsequently be withdrawn to an external wallet of their choice.
E.28 Transfer Time Schedule: N/A
E.29 Purchaser's Technical Requirements: Purchasers are required to have access to an EVM-compatible digital wallet (e.g., MetaMask, Trust Wallet, Safe) capable of holding ERC-20 tokens, as well as sufficient native tokens (e.g., ETH, BNB) to cover transaction fees. Where purchased via a centralized exchange, only an exchange account is required, although an external wallet is necessary for withdrawals.
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: Kraken
E.34 Trading Platforms Market Identifier Code (MIC): PGSL
E.35 Trading Platforms Access: Investors can access trading platforms either through centralized exchanges by registering an account, completing KYC, and trading supported pairs via web or mobile applications, or through decentralized exchanges by connecting an EVM-compatible wallet and executing swaps on-chain.
E.36 Involved costs: The costs involved in accessing trading platforms are limited to standard exchange fees. On centralized exchanges, these include trading fees (typically 0.1–0.3%), potential fiat deposit fees, and withdrawal fees. On decentralized exchanges, costs consist of blockchain network gas fees and a small swap fee (generally 0.2–0.3%). No additional charges are imposed by the issuer.
E.37 Offer Expenses: N/A
E.38 Conflicts of Interest: No material conflicts of interest have been identified. The token issuer and affiliated entities operate under clear contractual and governance frameworks. Token allocations are subject to transparent vesting schedules and lock-ups to mitigate any potential conflicts, ensuring equal treatment of all participants.
E.39 Applicable law: The offering is governed by and construed in accordance with the laws of the British Virgin Islands.
E.40 Competent court: Any disputes arising out of or in connection with the offering shall be subject to the exclusive jurisdiction of the courts of the British Virgin Islands (Eastern Caribbean Supreme Court, Commercial Division).

F. Information about the Crypto-Assets

F.1 Crypto-Asset Type: FST tokens are considered as crypto-assets other than EMTs and ARTs under Regulation (EU) 2023/1114. FST tokens are fungible utility tokens.
F.2 Crypto-Asset Functionality:

  • In-Game Demand Drivers
    $FST plays a central role in accessing core in-game features, such as purchasing season passes and exclusive items, creating constant demand from active players. This ensures utility is deeply embedded in gameplay, not just speculation.

  • Primary Currency for NFT Transactions
    $FST functions as the main currency for trading in-game NFTs, fostering a player-driven economy where asset ownership and liquidity are directly tied to token usage.

  • Special NFTs Minting
    Special edition NFTs—limited in supply and rich in utility—are minted using $FST, reinforcing its role as a gateway to exclusive content and competitive advantage.

  • Exclusive Item Purchases
    Certain in-game items are only available through token-based purchases, further anchoring its relevance in day-to-day gameplay and enhancing user retention through tangible value.
F.3 Planned Application of Functionalities: The core functionalities of the $FST token have been active since its Token Generation Event (TGE) on 24 August 2025, when the token became fully transferable and tradable on the blockchain.

These functionalities are continuously evolving within the FreeStyle Classic ecosystem, supporting its in-game economy, player reward mechanisms, and Web3 integration.

The $FST token is designed to ensure sustainable and practical utility beyond trading — serving as a core asset that powers gameplay engagement and ecosystem participation.

Additional functionalities, such as staking, governance participation, and burn mechanisms, will be progressively introduced in a structured and compliant manner, in line with the project's ongoing technical and regulatory development.
F.4 Type of white paper: OTHR
F.5 The type of submission: NEWT
F.6 Crypto-Asset Characteristics:

Token Use/Utility

  • Game Item Purchases & Event Participation — Tokens are used to purchase key in-game items and to enter competitive events such as league competitions.
  • NFT Minting & Trading — Tokens serve as the primary currency for minting various NFTs and trading them via ecosystem marketplace.
  • Staking — Users can stake tokens to earn rewards while contributing to ecosystem stability and long-term alignment.
  • Platform Utility & Growth — As additional games are launched and user activity scales, tokens serve as a medium for in-game purchases, upgrades, and other utilities within the ecosystem.
  • Exclusive Access & Rewards — Token ownership grants users privileged access to exclusive content, special events, and reward mechanisms, encouraging deeper engagement and loyalty.

Demand Drivers

  • In-Game Demand Drivers — $FST plays a central role in accessing core in-game features, such as purchasing season passes and exclusive items, creating constant demand from active players. This ensures utility is deeply embedded in gameplay, not just speculation.
  • Primary Currency for NFT Transactions — $FST functions as the main currency for trading in-game NFTs, fostering a player-driven economy where asset ownership and liquidity are directly tied to token usage.
  • Special NFTs Minting — Special edition NFTs—limited in supply and rich in utility—are minted using $FST, reinforcing its role as a gateway to exclusive content and competitive advantage.
  • Exclusive Item Purchases — Certain in-game items are only available through token-based purchases, further anchoring its relevance in day-to-day gameplay and enhancing user retention through tangible value.
F.7 Commercial name or trading name: FreeStyle Classic Token
F.8 Website of the issuer: https://www.freestyle-classic.com/
F.9 Starting date of offer to the public or admission to trading: 2025-11-14
F.10 Publication date: 2025-11-14
F.11 Any other services provided by the issuer:

N/A
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: No. $FST does not currently have a Functionally Fungible Group Digital Token Identifier (FGDTI). The token is issued on a single blockchain, and therefore a group identifier is not applicable at this stage.
F.15 Voluntary data flag: true
F.16 Personal data flag: false
F.17 LEI eligibility: true
F.18 Home Member State: IE
F.19 Host Member States: AT, BE, BG, HR, CY, CZ, DK, EE, FI, FR, DE, EL, HU, IS, IT, LI, LV, LT, LU, MT, NL, NO, 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 $FST acquire the right to hold, transfer, and use the tokens within the FreeStyle Classic ecosystem, including in-game utilities and trading on supported platforms. Purchasers are obliged to comply with applicable laws, safeguard their wallets and private keys, and refrain from using the tokens for unlawful purposes.
G.2 Exercise of Rights and obligations: Rights attached to $FST are exercised through standard blockchain procedures. Holders may transfer tokens by initiating on-chain transactions from an EVM-compatible wallet with sufficient gas fees. Utility rights are exercised within the FreeStyle Classic ecosystem by connecting the wallet to supported platforms. Trading rights require access to regulated exchanges, subject to their KYC/AML policies. No shareholder or dividend rights are attached to the token.
G.3 Conditions for modifications of rights and obligations: The fundamental rights to hold and transfer $FST are embedded in the ERC-20 smart contract and cannot be unilaterally modified. Rights and obligations may change only in connection with updates to the FreeStyle Classic ecosystem (e.g., utility features), amendments to applicable laws and regulations (e.g., KYC/AML requirements), or changes to exchange terms of service. Any such modifications will be communicated transparently through official channels.
G.4 Future Public Offers: N/A
G.5 Issuer Retained Crypto-Assets: 918146990
G.6 Utility Token Classification: true
G.7 Key Features of Goods/Services of Utility Tokens:
  • Game Item Purchases & Event Participation — Tokens are used to purchase key in-game items and to enter competitive events such as league competitions.
  • NFT Minting & Trading — Tokens serve as the primary currency for minting various NFTs and trading them via ecosystem marketplace.
  • Staking — Users can stake tokens to earn rewards while contributing to ecosystem stability and long-term alignment.
  • Platform Utility & Growth — As additional games are launched and user activity scales, tokens serve as a medium for in-game purchases, upgrades, and other utilities within the ecosystem.
  • Exclusive Access & Rewards — Token ownership grants users privileged access to exclusive content, special events, and reward mechanisms, encouraging deeper engagement and loyalty.
G.8 Utility Tokens Redemption: $FST tokens can be redeemed for goods and services within the FreeStyle Classic ecosystem by connecting a compatible wallet and using the tokens to purchase in-game items, participate in tournaments, or pay platform fees.
G.9 Non-Trading request: true
G.10 Crypto-Assets purchase or sale modalities: N/A
G.11 Crypto-Assets Transfer Restrictions:

$FST tokens are freely transferable on-chain as ERC-20 tokens. Transfer restrictions apply only to certain allocated tokens (e.g., team, advisors, or investors) that are subject to contractual lock-up and vesting schedules. There are no technical transfer restrictions for tokens in public circulation.
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:

  • British Virgin Islands Business Companies Act, 2004 (as amended) – governing the incorporation and operation of the issuer, Kairox Lab Ltd.

  • Relevant Anti-Money Laundering and Counter-Terrorist Financing legislation of the British Virgin Islands, including the Proceeds of Criminal Conduct Act and associated AML Regulations.

  • Regulation (EU) 2023/1114 (MiCA) – applicable insofar as $FST may be offered or admitted to trading within the European Union.

  • International standards such as the FATF Recommendations on AML/CFT applicable to Virtual Asset Service Providers.

  • General commercial and contract law of the issuer’s jurisdiction.
G.19 Competent court: Any disputes arising out of or in connection with the $FST offering shall fall under the exclusive jurisdiction of the courts of the British Virgin Islands (Eastern Caribbean Supreme Court, Commercial Division).

H. Information on the Underlying Technology

H.1 Distributed ledger technology: The $FST token is issued and operates on the BNB Smart Chain (BSC), a public and permissionless blockchain utilizing Proof-of-Staked Authority (PoSA) as its consensus mechanism.

BNB Smart Chain is an EVM-compatible network that supports smart contracts based on the ERC-20 standard, ensuring interoperability with the broader Ethereum ecosystem and seamless integration with DeFi and GameFi infrastructures.

The network combines the high performance and low transaction costs of a delegated Proof-of-Stake system with the security and reliability of authority-based validation. Validators are elected through staking and are responsible for block production and verification, enabling an average block time of approximately 3 seconds.

The distributed ledger is fully transparent and publicly verifiable, with all transactions recorded immutably on-chain. BNB Smart Chain maintains full compatibility with existing Ethereum developer tools and protocols (e.g., Solidity, MetaMask, Web3.js), allowing users and developers to easily interact with $FST through standard ERC-20 functions such as transfer, approve, and balanceOf.

In addition, the BNB Smart Chain's dual-chain architecture—integrating both the BNB Beacon Chain for governance and staking, and the BNB Smart Chain for smart contract execution—provides high scalability, interoperability, and operational efficiency for token-based applications like $FST.

Overall, the use of BNB Smart Chain ensures that the $FST token operates within a secure, energy-efficient, and widely adopted distributed ledger environment, fully compliant with established technical and regulatory standards for digital assets.
H.2 Protocols and technical standards: The $FST token is deployed on the BNB Smart Chain (BSC), which is fully compatible with the Ethereum Virtual Machine (EVM) and follows the ERC-20 token standard. This ensures that the token operates in accordance with the same technical specifications and interface standards as those widely adopted across the Ethereum ecosystem.

The underlying smart contracts are developed in Solidity, implementing standardized functions such as transfer, approve, and balanceOf, while also supporting custom extensions for staking and in-game reward mechanisms.

The ERC-20 implementation guarantees interoperability with most decentralized applications, wallets, and exchanges, and allows seamless integration with DeFi and GameFi infrastructures. The BNB Smart Chain provides developer-friendly APIs and SDKs, enabling transparency, auditability, and robust integration with other EVM-based environments.

All smart contracts undergo internal review and external verification prior to deployment to ensure compliance with industry security standards (e.g., OpenZeppelin libraries, SWC Registry) and to minimize potential vulnerabilities.
H.3 Technology Used: The holding, storage, and transfer of $FST tokens are based on widely recognized blockchain wallet technologies. Tokens can be securely stored in EVM-compatible wallets, including software wallets (MetaMask, Trust Wallet, Safe) and hardware devices (Ledger, Trezor), all of which employ asymmetric cryptography for private-key protection.

Users maintain full custody over their tokens, with all transactions executed and recorded on-chain through verified ERC-20 smart contracts.

For institutional participants, custodians, and exchange partners, enhanced security technologies are applied. These include multi-signature authorization schemes, multi-party computation (MPC) protocols, and hardware security modules (HSM) to prevent unauthorized access and single-point failures.

Backup recovery, encryption at rest, and secure key-rotation policies are enforced to ensure operational resilience and regulatory-grade safeguarding of digital assets. This layered security architecture ensures that the management of $FST tokens aligns with the best practices recognized across the global digital-asset industry.
H.4 Consensus Mechanism: The $FST token operates on the BNB Smart Chain, which utilizes the Proof-of-Staked-Authority (PoSA) consensus mechanism—a hybrid combining elements of Proof of Stake (PoS) and Proof of Authority (PoA). Under PoSA, a limited set of validators are elected based on their staking and reputation, ensuring both decentralization and high performance.

Validators are responsible for proposing, validating, and confirming blocks, receiving block rewards and transaction fees as incentives. The average block time on BNB Smart Chain is approximately 3 seconds, offering fast confirmation times and low transaction costs while maintaining network integrity.

The PoSA mechanism provides a balance between efficiency, scalability, and security, making it highly suitable for large-scale applications such as GameFi ecosystems. This consensus design minimizes energy consumption compared to proof-of-work systems, thereby supporting an environmentally sustainable blockchain infrastructure aligned with MiCAR sustainability objectives.
H.5 Incentive Mechanisms and Applicable Fees:

Within the FreeStyle Classic ecosystem, the $FST token serves as both a utility and incentive medium. Holders and players are rewarded with $FST through various in-game and community participation mechanisms, such as gameplay achievements, ranking milestones, tournament staking, and ecosystem contribution. These incentives are designed to strengthen user engagement and promote sustainable token circulation within the ecosystem.

Applicable fees include standard blockchain network gas fees, which are paid in BNB for on-chain transactions, as well as exchange trading fees and ecosystem service fees applicable to in-game transactions or NFT marketplace activities. The gas fee model of BNB Smart Chain ensures predictable and cost-efficient transactions, supporting smooth gameplay-linked operations and large-scale token transfers.

The overall economic design of $FST aims to maintain long-term balance between utility and value, with incentive mechanisms and fees calibrated to sustain network participation, ecosystem growth, and regulatory alignment.
H.6 Use of Distributed Ledger Technology: false
H.7 DLT Functionality Description: N/A
H.8 Audit: true
H.9 Audit outcome:

Audit Result : Passed

Audit Number : 0X002507100001

Audit Date : 2025.07.09 - 2025.07.10

Audit Team : SlowMist Security Team

Summary conclusion : This is a token contract that does not contain the dark coin function. The total amount of contract tokens remains unchanged. The contract does not have the Overflow and the Race Conditions issue.

I. Information on Risks

I.1 Offer-Related Risks: The offering of $FST tokens involves a number of risks typically associated with digital asset markets.

Token prices may be subject to high volatility due to market sentiment, speculative trading, or macroeconomic developments beyond the issuer's control.

Early purchasers may experience substantial price fluctuations and liquidity constraints, particularly during initial listing periods or in adverse market conditions.

In addition, the absence of guaranteed redemption rights or intrinsic value means that purchasers could lose part or all of their invested capital.

Regulatory interventions, including trading suspensions, restrictions on crypto-asset promotions, or modifications to listing requirements, could also materially affect the offer or the secondary market for $FST.
I.2 Issuer-Related Risks: While no issuer-specific financial distress currently exists, risks may arise from operational dependencies and the issuer's reliance on key technical, marketing, and development partners.

As the issuer is engaged in the development and maintenance of the FreeStyle Classic ecosystem, any disruption in operations, resource limitations, or internal governance failures could impair project execution or continuity.

Additionally, changes in management composition, strategic direction, or funding availability could affect the issuer's ability to deliver on its roadmap commitments.
I.3 Crypto-Assets-related Risks: $FST, as a utility crypto-asset, is exposed to the inherent risks of blockchain-based instruments.

Market risks include extreme price volatility, limited liquidity during certain market cycles, and the absence of traditional valuation metrics or intrinsic value.

Utility risks arise from the dependence of $FST's functional value on its usage within the FreeStyle Classic ecosystem; a decline in user participation or reduced game adoption could negatively influence token demand and market perception.

Technological risks encompass potential vulnerabilities in the ERC-20 smart contract, possible bugs or exploits, and reliance on the security and uptime of the BNB Smart Chain.

Users also face the risk of private-key loss, theft, or unauthorized access, which may result in irreversible token loss.

Regulatory risks include evolving national and supranational legal frameworks that could limit or prohibit the trading, holding, or use of crypto-assets such as $FST.
I.4 Project Implementation-Related Risks: The FreeStyle Classic project remains subject to execution and adoption risks common to emerging Web3 gaming ecosystems.

Development delays may occur due to technical complexity, resource constraints, or third-party dependencies.

User-growth projections may not materialize as expected, resulting in lower ecosystem engagement and reduced demand for the $FST token.

The project's success also depends on its ability to maintain long-term partnerships with developers, publishers, and infrastructure providers, and to adapt to regulatory or market changes in multiple jurisdictions.

Financial sustainability risks exist if operational costs, liquidity provision, or token incentives cannot be supported by organic revenue generation or external funding.
I.5 Technology-Related Risks: Technological risks relate to the underlying blockchain infrastructure, smart-contract implementation, and cybersecurity exposure.

Although $FST is deployed on a robust EVM-compatible network, the system remains dependent on the continuous and secure operation of validator nodes and network connectivity.

Network congestion, forks, or attacks (e.g., denial-of-service, validator compromise, or contract exploits) could disrupt transactions or temporarily affect network reliability.

Risks also extend to wallets, custody providers, and bridging protocols, which may experience software bugs or security breaches.

Despite the use of audited smart contracts and trusted third-party infrastructure, residual technological risk cannot be fully eliminated.
I.6 Mitigation measures: The project adopts multiple layers of risk-mitigation and governance controls to address the aforementioned risks.

Smart contracts are externally audited following industry standards (e.g., OpenZeppelin, ConsenSys Diligence), and operate on secure, EVM-compatible blockchains with established validator frameworks.

Custody of tokens is protected by multi-signature and MPC-based authorization schemes, while institutional partners employ Hardware Security Modules (HSM) for cold-storage resilience.

Cybersecurity measures include real-time monitoring, penetration testing, DDoS protection, and 24/7 network surveillance to minimize external threats.

On the operational side, the issuer maintains segregated treasury management, conservative liquidity policies, and regular compliance reviews to ensure alignment with evolving regulatory standards.

While these controls significantly reduce exposure, they do not eliminate all risks; purchasers are therefore advised to conduct their own due diligence before participating.

J. Information on the sustainability indicators in relation to adverse impact on the climate and other environment-related adverse impacts

S.1 Name: Kairox Lab Ltd.
S.2 Relevant legal entity identifier: N/A
S.3 Name of the crypto-asset: FreeStyle Classic Token
S.4 Consensus Mechanism: The $FST token operates on the BNB Smart Chain, which utilizes the Proof-of-Staked-Authority (PoSA) consensus mechanism—a hybrid combining elements of Proof of Stake (PoS) and Proof of Authority (PoA). Under PoSA, a limited set of validators are elected based on their staking and reputation, ensuring both decentralization and high performance.

Validators are responsible for proposing, validating, and confirming blocks, receiving block rewards and transaction fees as incentives. The average block time on BNB Smart Chain is approximately 3 seconds, offering fast confirmation times and low transaction costs while maintaining network integrity.

The PoSA mechanism provides a balance between efficiency, scalability, and security, making it highly suitable for large-scale applications such as GameFi ecosystems. This consensus design minimizes energy consumption compared to proof-of-work systems, thereby supporting an environmentally sustainable blockchain infrastructure aligned with MiCAR sustainability objectives.
S.5 Incentive Mechanisms and Applicable Fees:

Within the FreeStyle Classic ecosystem, the $FST token serves as both a utility and incentive medium. Holders and players are rewarded with $FST through various in-game and community participation mechanisms, such as gameplay achievements, ranking milestones, tournament staking, and ecosystem contribution. These incentives are designed to strengthen user engagement and promote sustainable token circulation within the ecosystem.

Applicable fees include standard blockchain network gas fees, which are paid in BNB for on-chain transactions, as well as exchange trading fees and ecosystem service fees applicable to in-game transactions or NFT marketplace activities. The gas fee model of BNB Smart Chain ensures predictable and cost-efficient transactions, supporting smooth gameplay-linked operations and large-scale token transfers.

The overall economic design of $FST aims to maintain long-term balance between utility and value, with incentive mechanisms and fees calibrated to sustain network participation, ecosystem growth, and regulatory alignment.
S.6 Beginning of the period to which the disclosure relates: 2022-12-31
S.7 End of the period to which the disclosure relates: 2023-12-30
S.8 Energy consumption: 2500 kWh
S.9 Energy consumption sources and methodologies:

The estimation of annual energy consumption for the validation of transactions and maintenance of the distributed ledger pertaining to the $FST token follows a top-down analytical methodology based on publicly available energy benchmarks for Proof-of-Stake (PoS) and Proof-of-Staked-Authority (PoSA) networks.

Methodological approach:

Baseline reference: The average energy consumption per transaction on the BNB Smart Chain is approximated from network-level analyses published by independent sources such as the Crypto Carbon Ratings Institute (CCRI, 2023) and Binance Research (2024).

Per-transaction energy factor: These studies indicate that PoSA networks consume approximately 0.00025 kWh per transaction, derived from aggregate validator energy usage: (server power × validator count × uptime ÷ annual transactions).

$FST activity extrapolation: The total number of on-chain transactions attributable to $FST (including token transfers, staking, and ecosystem interactions) is projected at approximately 10 million transactions per year.

Annual energy calculation:

0.00025  kWh/tx × 10,000,000  tx/year = 2,500  kWh/year. 0.00025 kWh/tx×10,000,000 tx/year=2,500 kWh/year.

0.00025 kWh/tx × 10,000,000 tx/year = 2,500 kWh/year.

Comparative validation:

The resulting estimate is consistent with the Ethereum Foundation’s post-Merge findings (≈ 0.0026 TWh per year for the entire PoS network) and the CCRI’s “Energy Efficiency of Blockchain Networks” report, both confirming that PoS-based networks operate with > 99% lower energy intensity than Proof-of-Work (PoW) systems such as Bitcoin. Data sources and references:

• Crypto Carbon Ratings Institute (CCRI), “Energy Efficiency of Blockchain Networks” (2023)
• Ethereum Foundation, “The Merge: Sustainability and Energy Impact” (2022–2023)
• Binance Research, “BNB Smart Chain Sustainability Metrics” (2024)
• Cambridge Centre for Alternative Finance (CCAF), “Benchmarking Blockchain Energy Consumption” (2022)