White Paper Report


			..
	Modified version – 28 July 2026 White paper for crypto-assets other than asset-referenced tokens or e-money tokens

	Digital Token Identifier:	D4X6WQD28
	Offeror or person seeking admission to trading:	254900FMOYDRQVFB4B86 - Solana Mobile Inc.
	Type of submission:	Modify

Table of content
General information
SUMMARY
Part A - Information about offeror or person seeking admission to trading
Part B - Information about issuer, if different from offeror or person seeking admission to trading
Part 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
Part D - Information about other token project
Part E - Information about offer to public of other tokens or their admission to trading
Part F - Information about other tokens
Part G - Information on rights and obligations attached to other tokens
Part H – Information on underlying technology
Part I - Information on risks
Part J - Information on the sustainability indicators in relation to adverse impact on the climate and other environment-related adverse impacts




White papers for crypto-assets other than asset-referenced tokens or e-money tokens

Template for white papers for crypto-assets other than asset-referenced tokens or e-money tokens [abstract]
General information
00 Table of content	boolean true	true
01 Date of notification	date	2026-07-28
02 Statement in accordance with Article 6(3) of Regulation (EU) 2023/1114	boolean true	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	boolean true	This crypto-asset white paper complies with Title II of Regulation (EU) 2023/1114 of the European Parliament and of the Council and, to the best of the knowledge of the management body, 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), of Regulation (EU) 2023/1114	boolean true	The crypto-asset referred to in this crypto-asset 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), of Regulation (EU) 2023/1114	boolean true	Not applicable
06 Statement in accordance with Article 6(5), points (e) and (f), of Regulation (EU) 2023/1114	boolean true	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 or the deposit guarantee schemes under Directive 2014/49/EU of the European Parliament and of the Council.
SUMMARY
07 Warning in accordance with Article 6(7), second subparagraph, of Regulation (EU) 2023/1114	boolean true	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 or any other offer document pursuant to Union or national law.
08 Characteristics of the crypto-asset	textBlock	SKR is a native SPL token built on the Solana blockchain that serves as the governance and coordination mechanism for the TEEPIN (Trusted Execution Environment Platform Infrastructure Network) ecosystem, which forms the technological foundation of the Solana Mobile platform developed by Solana Mobile. The token enables decentralised governance of the Solana Mobile ecosystem by allowing users, developers, and Guardians (node operators) to participate in stake-based decision-making processes. Note that only unlocked tokens can be staked. Through the SKR token, participants can influence the curation of the Solana dApp Store, oversee device verification processes, and coordinate ecosystem activities without relying on centralised gatekeepers. The token's core functionality centres on several key mechanisms. Guardian Staking requires node operators to bond an amount, expected to be 250,000 SKR, to become Guardians who are responsible for verifying devices and curating dApp submissions. Token holders who do not wish to operate nodes can delegate their SKR to Guardians and receive a proportional share of staking rewards. Developers seeking to submit applications to the Solana dApp Store must post an amount, expected to be 100 SKR, in bonds, which creates accountability and sybil resistance within the ecosystem. The protocol distributes inflation rewards beginning at an initial rate of 10% per annum, which decays by 25% annually until reaching a terminal rate of 2%. SKR tokens are fully transferable SPL tokens that can be freely traded or transferred without restriction. The token has no intrinsic value or asset backing, and its worth is derived entirely from ecosystem utility and market demand. All core functionalities described above are operational at the time of launch.
09 Further information about utility tokens	textBlock	No applicable
10 Key information about the offer to the public or admission to trading	textBlock	Solana Mobile is seeking admission of SKR tokens to trading on Payward Global Solutions Limited (d/b/a "Kraken") in order to enhance liquidity and accessibility for ecosystem participants.
Part A - Information about offeror or person seeking admission to trading
A.1 Name	text	Solana Mobile Inc.
A.2 Legal form	text	Delaware corporation
A.3 Registered address
Registered addess	text	605 N Michigan Ave Floor 4
Country	enumeration	United States of America
Sub-division	text	Chicago, IL 60611
A.4 Head office
Head office	text	605 N Michigan Ave , Floor 4
Country	enumeration	United States of America
Sub-division	text	Chicago, IL 60611
A.5 Registration date	date	2022-04-01
A.6 Legal entity identifier	LEI	254900FMOYDRQVFB4B86
A.7 Another identifier required pursuant to applicable national law	text	6712814
A.8 Contact telephone number	text	+1(773)923-3399
A.9 E-mail address	text	legal@solanamobile.com
A.10 Response time (days)	integer	14
A.11 Parent company	text	Solana Labs, Inc.
A.12 Members of the management body
Member #1	id	1
Identity	text	Director
Business address	text	605 N Michigan Ave Floor 4 Chicago, IL 60611
Function	text	Director
A.13 Business activity	textBlock	Solana Mobile develops and operates the Solana Mobile platform, which encompasses the TEEPIN (Trusted Execution Environment Platform Infrastructure Network) ecosystem, the Solana dApp Store, and mobile hardware devices including the Saga and Seeker smartphones. The company's mission is to provide an open and decentralised alternative to the incumbent mobile duopoly, enabling users to maintain sovereignty over their digital assets and data.
A.14 Parent company business activity	textBlock	Solana Labs develops products and companies within the Solana ecosystem.
A.15 Newly established	boolean	true
A.16 Financial condition for the past three years	textBlock	Solana Mobile is a wholly-owned subsidiary of Solana Labs and has received capital contributions from theSolana Labs.
A.17 Financial condition since registration	textBlock	Not applicable
Part B - Information about issuer, if different from offeror or person seeking admission to trading
B.1 Issuer different from offerror or person seeking admission to trading	boolean	false
B.2 Name	N/A		.
B.3 Legal form	N/A		.
B.4 Registered address
Registered addess	N/A		.
Country	N/A		.
Sub-division	N/A		.
B.5 Head office
Head office	N/A		.
Country	N/A		.
Sub-division	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
Member #1	N/A		.
Identity	N/A		.
Business address	N/A		.
Function	N/A		.
B.11 Business activity	N/A		.
B.12 Parent company business activity	N/A		.
Part 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		.
C.2 Legal form	N/A		.
C.3 Registered address
Registered address	N/A		.
Country	N/A		.
Sub-division	N/A		.
C.4 Head office
Head office	N/A		.
Country	N/A		.
Sub-division	N/A		.
C.5 Registration date	N/A		.
C.6 Legal entity identifier	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
Member #1	N/A		.
Identity	N/A		.
Business address	N/A		.
Function	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		.
Part D - Information about other token project
D.1 Crypto-asset project name	text	Solana Mobile
D.2 Crypto-asset name	text	SKR
D.3 Abbreviation	text	SKR
D.4 Crypto-asset project description	textBlock	Solana Mobile was founded with the ambitious goal of challenging the mobile duopoly by creating an ecosystem where the rules governing mobile applications and user experiences are shaped by participants rather than controlled by centralised gatekeepers. The project establishes a new paradigm for mobile app development with transparent, community-driven rules that are enforced in a decentralised manner through the TEEPIN architecture. TEEPIN, which stands for Trusted Execution Environment Platform Infrastructure Network, coordinates hardware and software components to create a secure and cohesive ecosystem of mobile devices and applications. The architecture consists of three interconnected layers that work together to deliver the platform's capabilities. The Hardware Layer utilises the Trusted Execution Environment standard present in modern smart devices for managing cryptographic seeds via the Seed Vault implementation and for generating cryptographic proofs of device identity, secure status, and software authenticity. This hardware-rooted security provides the foundation upon which the higher layers of the stack depend. The Platform Layer represents the Solana Mobile ecosystem where verified decentralised applications connect with authentic users without requiring intermediary gatekeepers. The Solana dApp Store serves as the primary distribution channel for applications that have passed Guardian verification. The Network Layer provides the governance structure that allows decentralised ecosystem operation through Guardians, who are organisations or individuals running verification infrastructure for the ecosystem. Guardians are responsible for verifying device integrity and curating application submissions. Note that only unlocked tokens can be staked. The journey began with Solana Mobile's Saga and continues with its new Seeker device, with longer-term ambitions to expand across broader hardware manufacturers and transform this grassroots crypto mobile environment into a significant movement that offers a genuine alternative to incumbent platforms.
D.5 Details of all natural or legal persons involved in implementation of crypto-asset project
Person #1	id	1
Type of person	enumeration	Development team
Name of person	text	Solana Mobile development team
Business address of person	text	605 N Michigan Ave Floor 4 Chicago, IL 60611
Domicile of company	enumeration	United States of America
D.6 Utility token classification	boolean	false
D.7 Key features of goods or services for utility token projects	text	Not applicable
D.8 Plans for the token
Description of past milestones	textBlock	SKR will serve as the coordination mechanism for the TEEPIN ecosystem through several phases of development, each building upon the foundation established in previous phases. During the Initial Phase focused on Governance Coordination, SKR functions exclusively as a coordination tool enabling ecosystem operation by delegating curation powers to Guardians. Token holders can delegate their stake to Guardians of their choice and participate in ecosystem governance decisions that shape the platform's evolution.
Description of future milestones	textBlock	In the Growth Phase with Enhanced Utility, as the ecosystem develops and matures, participants may gain the ability to redeem SKR to receive discounts or rebates on costs related to participation in the Mobile ecosystem, creating direct utility value for token holders beyond governance rights. The Maturation Phase introduces Fee Revenue capabilities, as the platform is designed to permit value capture in the form of fee revenue on certain transactions processed through the network. When the ecosystem determines through governance that monetisation can be enabled without harming growth trajectories, the Guardian network can begin enforcing fee capture at the dApp evaluation layer. The Expansion Phase encompasses OEM Integration, whereby the Solana Mobile platform extends to other Android hardware OEMs. Hardware devices from partner manufacturers will undergo similar verification processes to Solana Mobile's own devices, ensuring their ability to participate in the existing user base is conditional on contributing back to the ecosystem that enables their participation. The inflation schedule governing new token issuance follows a predetermined and transparent formula. The initial inflation rate is set at 10% per annum and is calculated on a linear rather than compounding basis. This rate decays by 25% each year until reaching a terminal rate of 2% per annum that continues indefinitely. All planned uses of SKR remain subject to market conditions, regulatory compliance, and the evolving needs of the TEEPIN ecosystem and/or Solana Mobile.
D.9 Resource allocation	text	Not Applicable
D.10 Planned use of collected funds or other tokens	text	Not Applicable
Part E - Information about offer to public of other tokens or their admission to trading
E.1 Public offering or admission to trading	enumeration	Admission to trading
E.2 Reasons for public offer or admission to trading	textBlock	The admission of SKR to trading on a regulated platform serves to provide regulated market access for token holders and enhance liquidity through compliant trading venues operating under the MiCA framework. This will enable broader participation in the TEEPIN ecosystem governance by providing accessible on-ramps for potential participants and support the growth of the decentralised mobile platform by increasing the token's accessibility and visibility.
E.3 Fundraising target
Target expressed in currency	monetary		EUR
Target expressed in units	decimal
Target expressed in digital token identifier	text	Not applicable
E.4 Minimum subscription goals
Goals expressed in currency	monetary		EUR
Goals expressed in units	decimal
Goals expressed in digital token identifier	text	Not applicable
E.5 Maximum subscription goals
Goasl expressed in currency	monetary		EUR
Goals expressed in units	decimal
Goals expressed in digital token identifier	text	Not applicable
E.6 Oversubscription acceptance	boolean	false
E.7 Oversubscription allocation	text	Not applicable
Issue price details
E.8 Issue price	decimal
E.9 Official currency determining issue price	enumeration
E.9 Any other tokens determining issue price	text	Not applicable
E.10 Subscription fee
Fee expressed in currency	monetary		EUR
Fee expressed in units	decimal
Fee expressed in digital token identifier	text	Not applicable
E.11 Offer price determination method	text	false
E.12 Total number of offered or traded other tokens	integer	10000000000
E.13 Targeted holders	enumeration	All types of investors
E.14 Holder restrictions	text	Not applicable
E.15 Reimbursement notice	boolean true
E.16 Refund mechanism	textBlock	Not applicable
E.17 Refund timeline	text	Not applicable
E.18 Offer phases	textBlock	Not applicable
E.19 Early purchase discount	textBlock	Not applicable
E.20 Time-limited offer	boolean	false
E.21 Subscription period beginning	date
E.22 Subscription period end	date
E.23 Safeguarding arrangements for offered funds or other tokens	textBlock	Not applicable
E.24 Payment methods for other token purchase	textBlock	Not applicable
E.25 Value transfer methods for reimbursement	textBlock	Not applicable
E.26 Right of withdrawal	textBlock	Not applicable
E.27 Transfer of purchased other tokens	textBlock	Not applicable
E.28 Transfer time schedule	text	Not applicable
E.29 Purchaser's technical requirements	textBlock	Not applicable
Other token services provider characteristics
E.30 Other token service provider (CASP) name	text	Not applicable, as no CASP has been engaged for placement services.
E.31 CASP identifier	LEI
E.32 Placement form	enumeration	Not applicable
Trading platforms characteristics
E.33 Trading platforms name	text	Payward Global Solutions Limited (d/b/a "Kraken")
E.34 Trading platforms market identifier code (MIC)	text	PGSL
E.35 Trading platforms access	text	Generally, this depends on the trading platform listing the crypto-asset. Access to trading on Kraken requires registration on their platform at https://www.kraken.com.
E.36 Involved costs	textBlock	This depends on the trading platform listing the crypto-asset. The use of services offered by trading platforms may involve costs, including transaction fees, withdrawal fees, and other charges, as notified to users in advance. These costs are determined and set by the respective trading platforms and are not controlled, influenced, or governed by Solana Mobile. Consequently, any changes to initially announced fee structures or the introduction of new costs for the future are solely at the discretion of the trading platforms.
E.37 Offer expenses	textBlock	Not applicable
E.38 Conflicts of interest	textBlock	MiCA-compliant trading platforms shall have strong measurements in place in order to manage conflicts of interests. Due to the broad audience this white-paper is addressing, potential investors should always check the conflicts of interest policy of their respective counterparty. The Solana Mobile Team allocation of 15% and the Solana Labs allocation of 10%, totalling 25% of the initial supply between related parties, represent significant token holdings that could create potential conflicts of interest. The token price may influence decision-making by these parties, though the vesting schedules with 12-month cliffs followed by 36-month linear unlock periods are specifically designed to align insider incentives with the long-term success of the protocol.
E.39 Applicable law	textBlock	Not applicable, as this white paper is written to support admission to trading and not for the initial offer to the public.
E.40 Competent court	textBlock	Not applicable, as this white paper is written to support admission to trading and not for the initial offer to the public.
Part F - Information about other tokens
F.1 Crypto-asset type	text	Crypto-asset other than an asset-referenced token or e-money token
F.2 Other token functionality	textBlock	SKR functions as the governance and coordination token for the TEEPIN ecosystem and Solana Mobile platform, operating through a Delegated Proof of Stake model where governance power is allocated via SKR to Guardians who perform essential network functions. The Guardian Staking function requires node operators to bond SKR to become Guardians within the ecosystem. Guardians serve two primary functions: verifying the integrity and authenticity of devices seeking to participate in the network, and evaluating and admitting applications to the Solana dApp Store. In return for performing these essential services, Guardians receive inflation rewards from the network proportional to their total stake including both their own bond and any delegated tokens. The Delegation function enables SKR holders who do not wish to operate Guardian nodes to delegate their stake to Guardians of their choice. Delegators share in the inflation rewards earned by their chosen Guardians minus a commission fee set by each Guardian operator. This mechanism enables broader participation in network security and governance without requiring every participant to operate infrastructure. The dApp Submission Bond function requires developers to post a SKR bond when submitting applications to the Solana dApp Store. This bond serves as sybil resistance to prevent spam submissions and provides economic recourse against developers who submit malicious applications. Bonds are timelocked for three months following submission and can be withdrawn thereafter if the application remains in good standing. The Governance Voting function enables SKR holders to participate in stake-based decision-making for ecosystem parameters including Guardian bond amounts, application submission bond requirements, inflation distribution mechanisms, and other ecosystem rules that Guardians must enforce in their verification and curation activities. Future utility expansions may include the ability to redeem SKR for discounts or rebates on ecosystem participation costs, and the Guardian network may eventually enforce fee capture at the dApp evaluation layer once governance determines that monetisation can proceed without harming ecosystem growth. All core functionalities including staking, delegation, and Guardian operations are operational at the time of token launch.
F.3 Planned application of functionalities	textBlock	Future functionalities including ecosystem discounts, rebates, and fee capture mechanisms will be activated through community governance processes as the ecosystem matures and governance determines that conditions are appropriate for their introduction.
A description of the characteristics of the other token, including the data necessary for classification of the crypto-asset white paper in the register referred to in Article 109 of Regulation (EU) 2023/1114, as specified in accordance with paragraph 8 of that Article
F.4 Type of crypto-asset white paper	enumeration	Other crypto-asset token white paper
F.5 Type of submission	enumeration	Modify
F.6 Other token characteristics	textBlock	SKR is a native SPL (Solana Program Library) token operating on the Solana blockchain, which is a high-performance Layer 1 network known for fast transaction speeds, low costs, and high throughput. The token serves as the foundation for the TEEPIN ecosystem's decentralised governance structure. From a technical specification standpoint, SKR implements the SPL Token standard which is Solana's native fungible token standard ensuring compatibility with the full Solana ecosystem. The initial supply at launch is 10,000,000,000 (ten billion) SKR tokens. The token uses standard SPL token decimal precision. The inflation model is linear rather than compounding, meaning new tokens are calculated as a percentage of the initial supply rather than the current supply. In terms of functional properties, each SKR token is completely fungible and fully interchangeable with any other SKR token. The token contract follows standard SPL token specifications, ensuring seamless compatibility with all Solana wallets, decentralised exchanges, and applications built on the Solana ecosystem. Users benefit from Solana's efficient infrastructure with typical transaction costs under $0.01 and sub-second transaction finality. Regarding economic characteristics, SKR exists purely as a digital asset with no physical representation or underlying collateral. Its value is determined entirely by market forces reflecting ecosystem utility and demand. The token provides no redemption rights against the issuer for fiat currency or other assets and makes no promises regarding future value. The key staking parameters governing the token's operation includes a staking cooldown period that is expected to be 2 days, a Guardian bond requirement, expected to be 250,000 SKR, and an application submission bond, expected to be 100 SKR, subject to a three-month timelock. Note that only unlocked tokens can be staked.
F.7 Commercial name or trading name	text	SKR
F.8 Website of the issuer	text	https://solanamobile.com
F.9 Starting date of offer to the public or admission to trading	date	2026-01-26
F.10 Publication date	date	2026-08-04
F.11 Any other services provided by the issuer	textBlock	Solana Mobile does not provide any crypto-asset services covered by Regulation (EU) 2023/1114. The company provides hardware devices including the Saga and Seeker smartphones, operates the Solana dApp Store platform for application distribution, and develops the TEEPIN infrastructure software that enables the ecosystem's decentralised governance.
F.12 Language or languages of white paper	text	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	text	D4X6WQD28
F.14 Functionally fungible group digital token identifier, where available	text	3B29MH8TM
F.15 Voluntary data flag	boolean	false
F.16 Personal data flag	boolean	true
F.17 LEI eligibility	boolean	true
F.18 Home member state	enumeration	Ireland
F.19 Host member states #1	enumerationSet	Austria
F.19 Host member states #2	enumerationSet	Belgium
F.19 Host member states #3	enumerationSet	Bulgaria
F.19 Host member states #4	enumerationSet	Croatia
F.19 Host member states #5	enumerationSet	Cyprus
F.19 Host member states #6	enumerationSet	Czechia
F.19 Host member states #7	enumerationSet	Denmark
F.19 Host member states #8	enumerationSet	Estonia
F.19 Host member states #9	enumerationSet	Finland
F.19 Host member states #10	enumerationSet	France
F.19 Host member states #11	enumerationSet	Germany
F.19 Host member states #12	enumerationSet	Greece
F.19 Host member states #13	enumerationSet	Hungary
F.19 Host member states #14	enumerationSet	Iceland
F.19 Host member states #15	enumerationSet	Ireland
F.19 Host member states #16	enumerationSet	Italy
F.19 Host member states #17	enumerationSet	Latvia
F.19 Host member states #18	enumerationSet	Liechtenstein
F.19 Host member states #19	enumerationSet	Lithuania
F.19 Host member states #20	enumerationSet	Luxembourg
F.19 Host member states #21	enumerationSet	Malta
F.19 Host member states #22	enumerationSet	Netherlands
F.19 Host member states #23	enumerationSet	Norway
F.19 Host member states #24	enumerationSet	Poland
F.19 Host member states #25	enumerationSet	Portugal
F.19 Host member states #26	enumerationSet	Romania
F.19 Host member states #27	enumerationSet	Slovakia
F.19 Host member states #28	enumerationSet	Slovenia
F.19 Host member states #29	enumerationSet	Spain
F.19 Host member states #30	enumerationSet	Sweden
Part G - Information on rights and obligations attached to other tokens
G.1 Purchaser rights and obligations	textBlock	The SKR Token does not confer any rights or entitlements to its holders. Instead, the SKR Token enables holders to access and enjoy the utilities of the Solana Mobile ecosystem. As a result, Solana Mobile and Solana Labs to the fullest extent permitted by applicable laws, disclaims all warranties, whether express or implied. This includes, but is not limited to, implied warranties of merchantability and fitness for a particular purpose. Moreover, to the fullest extent permissible by applicable laws, neither Solana Mobile nor the Parent is liable for any damages arising from the holding, use, transfer, or interactions involving SKR Tokens and the Solana Mobile ecosystem. This limitation applies to all forms of damages, including direct, indirect, incidental, punitive, and consequential damages.
G.2 Exercise of rights and obligations	textBlock	Not applicabe
G.3 Conditions for modifications of rights and obligations	textBlock	Not applicabe
G.4 Future public offers	textBlock	No public offers have been held for SKR, and no future offers to the public are currently planned.
G.5 Issuer retained other token	integer	1500000000
G.6 Utility token classification	boolean	false
G.7 Key features of goods or services utility tokens	text	Not applicable
G.8 Utility tokens redemption	text	Not applicable
G.9 Non-trading request	boolean	true
G.10 Other tokens purchase or sale modalities	text	Not applicable, as the admission to trading of the tokens is sought.
G.11 Other tokens transfer restrictions	text	The SKR token may be subject to certain transfer restrictions to comply with legal, regulatory, and operational requirements. These restrictions support compliance with MiCA and any relevant jurisdictional laws. • Jurisdictional Restrictions: SKR tokens made available via Crypto Asset Service Providers cannot be transferred or sold to individuals or entities located in prohibited jurisdictions. This includes jurisdictions under sanctions or areas where the transfer or trading of crypto-assets may be restricted due to legal or regulatory requirements (e.g., Russia). • AML/KYC Compliance: Transfers of SKR tokens may be restricted if the purchaser's identity cannot be verified through the required AML/KYC procedures of the Crypto Asset Service Providers. Transactions involving unverified users may be blocked or reversed by Crypto Asset Service Providers to maintain compliance with anti-money laundering and counter-terrorism financing regulations. • Token Lock-up Periods: Certain SKR tokens may be subject to lock-up periods or vesting schedules as part of the SKR token sale terms. During these periods, SKR tokens cannot be transferred or traded. These restrictions will be clearly communicated to purchasers prior to the sale. • Secondary Market Restrictions: SKR tokens may face restrictions on secondary market trading depending on the platform and applicable regulations. The Crypto Asset Service Providers can impose their own restrictions in agreements they enter with their clients. The Crypto Asset Service Providers may impose restrictions to buyers and sellers in accordance with applicable laws and internal policies and terms. These transfer restrictions are designed to protect both the purchasers and the broader ecosystem, ensuring that the SKR token remains compliant with legal obligations and functions securely within its intended use.
G.12 Supply adjustment protocols	boolean	false
G.13 Supply adjustment mechanisms	text	Not applicable
Other token schemes details
G.14 Token value protection schemes	boolean	false
G.15 Token value protection schemes description	textBlock	Not applicable
G.16 Compensation schemes	boolean	false
G.17 Compensation schemes description	textBlock	Not applicable
G.18 Applicable law	textBlock	The laws applicable to Solana Mobile are the laws of the state of Delaware (United States).
G.19 Competent court	textBlock	Any dispute, claim, disagreements arising out of or relating in any way to Solana Mobile, including claims and disputes that arose before the effective date of this whitepaper will be exclusively resolved by binding arbitration by the American Arbitration Association's branch in New York City, rather than in court.
Part H – Information on underlying technology
H.1 Distributed ledger technology (DTL)	text	SKR operates on the Solana blockchain, which is a high-performance Layer 1 distributed ledger utilising a unique combination of Proof of History (PoH) and Proof of Stake (PoS) consensus mechanisms to achieve industry-leading transaction throughput and speed while maintaining security guarantees.
H.2 Protocols and technical standards	text	The protocol utilises several established standards and technologies: The SPL Token Standard is Solana's native fungible token standard, which defines the interface and behaviour for tokens on the Solana network and ensures compatibility across the ecosystem. The Solana Program Library provides the standard smart contract framework for building applications on Solana, offering tested and audited building blocks for common functionality. The TEE (Trusted Execution Environment) hardware security standard enables secure computation and key management on mobile devices, providing the hardware-rooted security upon which TEEPIN depends. Seed Vault is Solana Mobile's secure key management protocol that leverages TEE capabilities to protect users' cryptographic seeds from extraction or misuse. Solana Mobile does not have any ability or obligation to prevent or mitigate attacks or resolve any other issues that might arise with any SKR supported blockchain.
H.3 Technology used	textBlock	SKR is built on the Solana blockchain, which is a high-throughput Layer 1 network designed for scalable decentralised applications. The TEEPIN ecosystem consists of multiple technology layers that work together to deliver the platform's capabilities. The Blockchain Layer is provided by the Solana mainnet, which handles transaction processing, consensus, and settlement. Solana achieves high throughput through several architectural innovations including parallel transaction processing via Sealevel, efficient state management through Cloudbreak, and the unique Proof of History timing mechanism that enables validators to agree on time without extensive communication. The Token Layer implements SKR as an SPL token following Solana's standard token interface. This standardisation ensures compatibility with all Solana wallets, decentralised exchanges, and applications without requiring custom integration work. The Staking Infrastructure consists of smart contracts managing Guardian bonds, delegations, reward calculations, and epoch-based distributions. These contracts enforce the economic rules governing the TEEPIN ecosystem. The TEEPIN Hardware Layer provides integration with device Trusted Execution Environments for secure attestation, Seed Vault key management, and cryptographic proof generation. This layer bridges the blockchain to physical device security. The Application Layer encompasses the Solana dApp Store infrastructure, Guardian verification software, and LLM-assisted curation systems that together enable the decentralised application marketplace.
H.4 Consensus mechanism	text	SKR tokens operate on Solana, which uses a unique combination of Proof of History (PoH) and Proof of Stake (PoS) to achieve high throughput, low latency, and robust security without sacrificing decentralisation. Proof of History is a cryptographic technique that timestamps transactions by creating a historical record proving that events occurred at specific moments in time. PoH uses a sequential cryptographic hash chain (SHA-256) to generate a verifiable sequence of hashes. This creates an immutable sequence that enables efficient consensus on transaction ordering without requiring validators to communicate extensively to agree on time. Proof of Stake provides the economic security layer. Validators are chosen to produce blocks based on the amount of SOL tokens they have staked. Token holders can delegate their SOL to validators, earning rewards while enhancing network security. Validators who behave maliciously or fail to meet performance standards can be penalised through slashing, which reduces their staked tokens. The consensus process proceeds through several stages. First, transactions are validated to ensure correct signatures and sufficient funds. A validator then generates a PoH sequence with timestamps for the transactions. The network selects a leader validator based on stake to produce the next block. The leader bundles validated transactions into a block using PoH ordering to establish sequence. Other validators verify the block and its PoH sequence. Once verified, blocks are finalised on the blockchain.
H.5 Incentive mechanisms and applicable fees	text	The SKR ecosystem incorporates several incentive mechanisms designed to encourage productive participation and honest behaviour. Guardian Rewards provide compensation to node operators who perform verification and curation duties. Guardians earn inflation rewards proportional to their total stake, which includes both their own bond and any tokens delegated to them. The SKR bond ensures Guardians have meaningful economic exposure to their behaviour. Delegator Rewards enable token holders to earn returns by delegating to Guardians. Delegators receive a proportional share of Guardian rewards minus the commission fee set by each Guardian operator. Solana Network Fees apply to all transactions on the network. Transaction fees paid in SOL are typically under $0.01 for standard operations. Rent fees are charged by Solana for storing data on-chain. Priority fees can optionally be paid to prioritise transaction inclusion during periods of network congestion. Future Fee Capture mechanisms are designed into the ecosystem architecture. When governance determines that monetisation can proceed without harming ecosystem growth, the Guardian network can begin enforcing fee capture on certain transactions at the dApp evaluation layer.
H.6 Use of distributed ledger technology	boolean	true
H.7 DLT functionality description	textBlock	Solana processes transactions on a single global state using its unique architecture that combines multiple innovations to achieve high performance. Proof of History creates a cryptographic clock that timestamps all events on the network. This eliminates the need for validators to communicate extensively to agree on time, as the PoH sequence provides a verifiable record of when events occurred. This innovation enables parallel processing of non-conflicting transactions since their ordering can be determined from the PoH sequence. All SKR transactions, staking operations, Guardian activities, and governance actions are permanently recorded on the Solana blockchain and can be independently verified through block explorers.
Other token audit details
H.8 Audit	boolean	false
H.9 Audit outcome	textBlock	Not applicable
Part I - Information on risks
I.1 Offer-related risks	textBlock	1. Increased price volatility Exchange listing typically attracts new market participants including algorithmic traders, arbitrageurs, and short-term speculators. This influx of participants with varying investment horizons and strategies can lead to price movements that become disconnected from fundamental ecosystem metrics such as Guardian participation rates, device verification volumes, or dApp Store activity levels. 2. Different trading environment Centralised exchanges operate with order books, market makers, and fee structures that differ substantially from the decentralised exchanges native to the Solana ecosystem. This structural difference creates potential for significant price discrepancies between venues, particularly during periods of elevated volatility. Additionally, phenomena common to centralised exchange trading, including stop-loss hunting, liquidation cascades, and thin order books during off-peak hours, can cause sharp and sudden price movements that do not occur in decentralised trading environments. 3. Platform operational risks Exchange infrastructure is subject to various operational challenges including matching engine failures, distributed denial-of-service attacks, and scheduled maintenance windows that can prevent trading access during critical market moments. More severe scenarios involving platform insolvency, regulatory enforcement actions, or security breaches could result in frozen funds or extended trading halts. Unlike decentralised exchange trading where users maintain custody of their assets, centralised exchange trading requires users to trust the platform's custody arrangements. 4. Regulatory compliance Trading platforms must comply with evolving regulatory frameworks that may result in sudden delistings, geographic restrictions, or trading limitations without advance notice. Furthermore, regulatory actions taken against an exchange could affect all listed assets regardless of whether those individual assets are compliant with applicable regulations. 5. Counterparty As the admission to trading involves the connection to other trading venues, counterparty risks arise. These include, but are not limited to, the following risks: General Trading Platform Risk: The risk of trading platforms not operating to the highest standards is given. Examples like FTX show that especially in nascent industries, compliance and oversight-frameworks might not be fully established and/or enforced. Listing or Delisting Risks: The listing or delisting of the token is subject to the trading partner's internal processes. Delisting of the token at the connected trading partners could harm or completely halt the ability to trade the token. 6. Liquidity Liquidity of the token can vary, especially when trading activity is limited. This could result in high slippage when trading a token. 7. Failure of one or more Counterparties Another risk stems from the internal operational processes of the counterparties used. As there is no specific oversight other than the typical due diligence check, it cannot be guaranteed that all counterparties adhere to the best market standards. Counterparties could go bankrupt, possibly resulting in a total loss for the clients' assets hold at that counterparty. 8. Concentrated token holdings The Solana Mobile Team holds 15% of the total token supply subject to a 12-month cliff followed by 36-month linear vesting, while the parent company Solana Labs holds an additional 10% under identical vesting terms. These concentrated holdings, totalling 25% of supply between related parties, could impact market dynamics as tokens become unlocked and potentially enter circulation.
I.2 Issuer-related risks	textBlock	Not applicable
I.3 Other tokens-related risks	textBlock	1. Market-determined value SKR derives its value from ecosystem utility and market demand rather than from underlying assets, revenue rights, or redemption guarantees. The token's worth depends on multiple factors such as continued ecosystem adoption, sustained Guardian participation, and general market interest in the project, all of which can fluctuate significantly across market cycles and in response to competitive developments. 2. Price volatility SKR may experience substantial price movements characteristic of governance tokens in the crypto-asset sector, with potential daily fluctuations possibly reaching double-digit percentages during periods of market stress or enthusiasm. The token's price tends to correlate with Solana Mobile ecosystem growth metrics, broader Solana network trends, and overall crypto-asset market conditions. Limited liquidity depth, particularly in early trading, can amplify the magnitude of price movements in both directions. 3. Supply inflation SKR employs a linear inflation model that begins at 10% annually and decays by 25% each year until reaching a terminal rate of 2%. This predetermined inflation schedule creates ongoing supply growth that participants must factor into their investment decisions. Non-staked positions face proportional dilution relative to this growing supply. 4. Initial token distribution The initial token distribution allocates 30% of supply to Airdrops (unlocked at launch), 25% to Growth and Partnerships (28% unlocked at launch), 10% to Liquidity and Launch activities (unlocked at launch), and 10% to the Community Treasury (unlocked at launch). A portion of the initial supply will enter circulation immediately, which could create substantial selling pressure if recipients choose to liquidate their allocations. 5. Staking lock-up periods Participants who stake their SKR tokens are subject to a lock-up period, which is expected to be 2 days, before being able to initiate unstaking, During volatile market conditions, these lock-up periods may prevent timely exit from positions when market participants most desire liquidity. 6. Guardian concentration risk The requirement to bond an amount, expected to be 250,000 SKR, to become a Guardian node operator represents a substantial capital commitment that may limit the number of entities able to participate at this level. This economic threshold could result in concentration of network control among well-capitalised participants, potentially undermining the decentralisation objectives of the ecosystem. 7. Solana network dependency SKR exists as an SPL token on the Solana blockchain, and any network-level issues affecting Solana directly impact SKR functionality. Network congestion, outages, or technical problems on Solana can prevent or delay SKR transfers, staking operations, and governance activities regardless of the health of the TEEPIN ecosystem itself. 8. Asset Security Crypto-assets face unique security threats, including the risk of theft from exchanges or digital wallets, loss of private keys, and potential failures of custodial services. Since crypto transactions are generally irreversible, a security breach or mismanagement can result in the permanent loss of assets, emphasizing the importance of strong security measures and practices. 9. Scams The irrevocability of transactions executed using blockchain infrastructure, as well as the pseudonymous nature of blockchain ecosystems, attracts scammers. Therefore, investors in crypto-assets must proceed with a high degree of caution when investing in if they invest in crypto-assets. Typical scams include – but are not limited to – the creation of fake crypto-assets with the same name, phishing on social networks or by email, fake giveaways/airdrops, identity theft, among others. 10. Privacy Concerns All transactions on the blockchain are permanently recorded and publicly accessible, which can potentially expose user activities. Although addresses are pseudonymous, the transparent and immutable nature of blockchain allows for advanced forensic analysis and intelligence gathering. This level of transparency can make it possible to link blockchain addresses to real-world identities over time, compromising user privacy. 11. Regulatory Uncertainty The regulatory environment surrounding crypto-assets is constantly evolving, which can directly impact their usage, valuation, and legal status. Changes in regulatory frameworks may introduce new requirements related to consumer protection, taxation, and anti-money laundering compliance, creating uncertainty and potential challenges for investors and businesses operating in the crypto space. Although the crypto-assets do not create or confer any contractual or other obligations on any party, certain regulators may nevertheless qualify the crypto-assets as a security or other financial instrument under their applicable law, which in turn would have drastic consequences for the crypto-asset, including the potential loss of the invested capital in the asset. Furthermore, this could lead to the Solana Mobile and its affiliates, directors, and officers being obliged to pay fines, including federal civil and criminal penalties, or make the crypto-asset illegal or impossible to use, buy, or sell in certain jurisdictions. On top of that, regulators could take action against the issuer as well as the trading platforms if the regulators view the token as an unregistered offering of securities or the operations otherwise as a violation of existing law. Any of these outcomes would negatively affect the value and/or functionality of the crypto-asset and/or could cause a complete loss of funds of the invested money in the crypto-asset for the investor. 12. Counterparty risk Engaging in agreements or storing crypto-assets on exchanges introduces counterparty risks, including the failure of the other party to fulfil their obligations. Investors may face potential losses due to factors such as insolvency, regulatory non-compliance, or fraudulent activities by counterparties, highlighting the need for careful due diligence when engaging with third parties. 13. Reputational concerns Crypto-assets are often subject to reputational risks stemming from associations with illegal activities, high-profile security breaches, and technological failures. Such incidents can undermine trust in the broader ecosystem, negatively affecting investor confidence and market value, thereby hindering widespread adoption and acceptance. 14. Technological Innovation New technologies or platforms could render SKR 's design less competitive or even break fundamental parts (i.e., quantum computing might break cryptographic algorithms used to secure the network), impacting adoption and value. Participants should approach the crypto-asset with a clear understanding of its speculative and volatile nature and be prepared to accept these risks and bear potential losses, which could include the complete loss of the assets' value. 15. Community and Narrative Trading activity is based on the intended market value is heavily dependent on its community and the popularity of the token narrative. Declining interest or negative sentiment could significantly impact the token's value. 16. Interest Rate Change Historically, changes in interest, foreign exchange rates, and increases in volatility have increased credit and market risks and may also affect the value of the crypto-asset. Although historic data does not predict the future, potential investors should be aware that general movements in local and other factors may affect the market, and this could also affect market sentiment and, therefore most likely also the price of the crypto-asset. 17. Taxation The taxation regime that applies to the trading of the crypto-asset by individual holders or legal entities will depend on the holder's jurisdiction. It is the holder's sole responsibility to comply with all applicable tax laws, including, but not limited to, the reporting and payment of income tax, wealth tax, or similar taxes arising in connection with the appreciation and depreciation of the crypto-asset. 18. Anti-Money Laundering/Counter-Terrorism Financing It cannot be
I.4 Project implementation-related risks	textBlock	1. Solana ecosystem dependency The success of the TEEPIN ecosystem is inextricably tied to the continued operation, growth, and adoption of the Solana blockchain as a whole. If the Solana network fails to attract sufficient users and developers, loses ground to competing Layer 1 solutions, or experiences a significant decline in activity, the TEEPIN ecosystem could be negatively impacted regardless of how well Solana Mobile executes on its own roadmap. 2. Hardware adoption barriers Achieving mass adoption of Solana Mobile devices faces significant barriers including entrenched competition from the Apple and Google smartphone ecosystems, strong consumer inertia favouring familiar platforms, and the learning curve associated with crypto-native mobile experiences. Overcoming these barriers requires not only excellent hardware and software but also sustained marketing efforts and ecosystem development to attract mainstream users. 3. Guardian network bootstrapping The ecosystem initially relies on Solana Mobile serving as the sole Guardian to bootstrap the curation mechanism and establish baseline network operations. Successfully transitioning to a fully decentralised third-party Guardian network requires attracting operators willing to bond substantial capital (expected to be 250,000 SKR) and commit to ongoing operational responsibilities. Insufficient Guardian participation could compromise the decentralisation objectives that are central to the project's value proposition. 4. dApp Store ecosystem development The value proposition of the Solana Mobile platform depends heavily on attracting high-quality applications to the Solana dApp Store. The established app stores have decades of developer relationships and billions of users, presenting formidable competition for developer attention and user engagement. Without a compelling library of applications, the devices and the tokens that govern them could have limited utility. 5. Governance participation risks Low engagement from SKR holders in governance activities and delegation decisions could result in suboptimal Guardian selection or poor curation decisions that degrade the quality of the ecosystem. Voter apathy, a common challenge in decentralised governance systems, may prevent the protocol from adapting effectively to market changes and competitive pressures. 6. Ecosystem Curator reliance The quality maintenance mechanism relies on Ecosystem Curators who voluntarily review applications and provide public ratings without receiving explicit compensation at launch. Insufficient curator participation could allow low-quality or potentially malicious applications to persist in the dApp Store, undermining user trust and platform reputation. 7. Dependence on third-party OEMs The long-term vision for the Solana Mobile platform depends on attracting hardware OEM partners who will integrate TEEPIN capabilities into their devices. Failure to secure meaningful partnerships with established device manufacturers could limit ecosystem growth and reduce the overall utility of SKR tokens beyond the devices produced directly by Solana Mobile.
I.5 Technology-related risks	textBlock	1. Smart contract risks The SKR token contracts and TEEPIN infrastructure involve smart contract technology that, despite undergoing security review processes, may contain undiscovered vulnerabilities. Potential issues could include unexpected interactions between system components, edge cases in staking and reward calculations, or unforeseen attack vectors that only become apparent after deployment in production environments with real economic value at stake. 2. Trusted Execution Environment limitations The TEEPIN architecture relies on hardware Trusted Execution Environment capabilities present in mobile devices to provide secure attestation and key management. TEE implementations vary across device manufacturers and silicon vendors, and vulnerabilities in TEE technology (which have historically been discovered in various implementations) could compromise the integrity of device verification processes that are fundamental to ecosystem security. 3. Seed Vault security The Seed Vault functionality for managing cryptographic seeds within TEE environments is critical security infrastructure for the Solana Mobile ecosystem. Any compromise of Seed Vault implementations could result in loss of user funds, identity spoofing across the network, or other severe security consequences that would undermine trust in the platform. 4. Guardian verification accuracy Guardians perform programmatic verification of device integrity and software authenticity using established cryptographic techniques, but sophisticated attacks or undiscovered bypass methods could potentially allow illegitimate devices to pass verification checks. Such vulnerabilities could enable sybil attacks or other exploitation of ecosystem mechanisms. 5. LLM-assisted curation risks Guardian evaluation of application submissions utilises large language model assistance for metadata review and content assessment. LLM technology has known limitations around adversarial inputs, prompt injection attacks, and inconsistent outputs that could result in inappropriate application approvals or rejections if not properly mitigated through human oversight and additional verification layers. 6. Zero-knowledge proof complexity Advanced zero-knowledge proofs for unique identity verification introduce significant cryptographic complexity to the system. Implementation errors or mathematical vulnerabilities in ZK systems could compromise privacy guarantees, enable sybil attacks, or create other security issues that are difficult to detect and remediate. 7. Key management responsibilities Users maintain full custody of their assets but bear complete responsibility for securing their private keys. Loss of wallet access means permanent inability to access SKR tokens, staked positions, Guardian bonds, or any other on-chain assets, as is standard for all non-custodial blockchain systems. 8. Hardware dependency The Solana Mobile ecosystem is fundamentally tied to physical hardware devices including the Saga, Seeker, and potential future devices from OEM partners. This dependency could expose the project to hardware manufacturing risks, supply chain disruptions, component shortages, and the inherent challenges of achieving sufficient device adoption rates. These factors may directly impact the utility and value proposition of SKR tokens in ways that purely software-based projects do not experience.
I.6 Mitigation measures	textBlock	1. Phased decentralisation approach Solana Mobile serves as the initial Guardian, ensuring stable ecosystem operation while the third-party Guardian network develops. This approach allows for gradual decentralisation as proven operators establish track records, rather than launching with an untested set of third-party Guardians whose reliability is unknown. 2. Economic security through bonding requirements The expected 250,000 SKR Guardian bond requirement ensures that node operators have significant economic stake in honest behaviour, creating strong incentives against malicious actions. Similarly, the expected 100 SKR application developer bonds, which are timelocked for three months, create sybil resistance and maintain developer accountability throughout the critical post-launch period for submitted applications. 3. Multi-layer verification architecture Device verification combines multiple independent security mechanisms including TEE hardware attestation, certificate authenticity checks, secure boot verification, and cryptographic proof generation. This defence-in-depth approach ensures, as much as possible, that compromising any single layer does not grant an attacker full access to ecosystem privileges. 4. Ecosystem Curator system Beyond the automated Guardian verification checks, Ecosystem Curators provide human review and public ratings for applications in the dApp Store. Applications that receive poor reviews or fail to meet community standards are relegated to spam sections, protecting users from low-quality applications while maintaining an open submission process. 5. Transparent and predictable inflation schedule The predetermined inflation schedule beginning at 10% and decaying by 25% annually to a 2% terminal rate provides complete predictability for all ecosystem participants. The linear inflation model provides predictable supply calculations, allowing participants to accurately assess the dilutive impact on their holdings over any time horizon. 6. Delegated Proof of Stake model SKR holders can delegate their tokens to Guardians of their choice rather than being required to operate nodes themselves, distributing governance power broadly and enabling smaller holders to participate in staking rewards without meeting the full Guardian bond requirements. 7. Community governance flexibility Key parameters including Guardian bond amounts, application submission bond requirements, inflation distribution mechanisms, and ecosystem rules can be adjusted through community governance as market dynamics evolve. This flexibility enables the ecosystem to potentially adapt to changing conditions while maintaining stakeholder alignment. 8. Open ecosystem design for OEM expansion The TEEPIN architecture is designed from the ground up to accommodate multiple hardware manufacturers, aimed at reducing single-point-of-failure risks associated with dependence on any single device line and enabling ecosystem growth beyond Solana Mobile's own hardware products. 9. Timelock mechanisms for bonds Application developer bonds are timelocked for three months following submission, preventing immediate extraction and ensuring that developers remain accountable during the critical period when newly submitted applications are most likely to reveal issues. 10. Vesting schedules for insider allocations The Team and Solana Labs allocations totalling 25% of supply are subject to 12-month cliffs followed by 36-month linear vesting schedules, aligning insider incentives with long-term protocol success and aimed at preventing immediate token sales that could destabilise markets. Note that it cannot be ensured that the implemented mitigation measures address and/or mitigate all the risks associated with the technology. Uncertainties in the regulatory requirements and future changes in regulatory frameworks could potentially impact the token's legal status and its tradability.
Part J - Information on the sustainability indicators in relation to adverse impact on the climate and other environment-related adverse impacts
J.1 Adverse impacts on climate and other environment-related adverse impacts	textBlock	See S-1 - S.10 below.
Mandatory information on principal adverse impacts on the climate and other environment-related adverse impacts of the consensus mechanism
General information about adverse impacts
S.1 Name	text	Solana Mobile is the entity seeking admission to trading of SKR token. As SKR operates on the Solana blockchain, environmental impacts relate to Solana's Proof of History combined with Proof of Stake consensus mechanism, which provides transaction processing and security for all SKR operations.
S.2 Relevant legal entity identifier	text	6712814
S.3 Name of the crypto-asset	text	SKR
S.4 Consensus mechanism	text	Solana uses a unique combination of Proof of History (PoH) and Proof of Stake (PoS) to achieve high throughput, low latency, and robust security while maintaining significantly lower energy consumption than Proof of Work alternatives. PoH uses a sequential cryptographic hash chain (SHA-256) to generate a verifiable sequence of hashes. This mechanism enables efficient agreement on transaction sequencing without requiring energy-intensive computational puzzles. Proof of Stake provides economic security through validators who are chosen based on staked SOL tokens. Token holders can delegate to validators to earn rewards while enhancing security. Malicious validators face slashing penalties that reduce their stake. Critically, this mechanism does not require the computational mining that characterises Proof of Work systems, resulting in dramatically lower energy consumption for equivalent security guarantees.
S.5 Incentive mechanisms and applicable fees	text	The Solana network incentive structure encourages participation through several mechanisms. Validators earn SOL rewards for producing and validating blocks, with rewards distributed proportionally to stake. Validators also earn a portion of transaction fees paid by users. Token holders can delegate SOL to validators and share in rewards proportionally. Validators who behave maliciously face slashing penalties through stake reduction.
S.6 Beginning of period to which disclosed information relates	date	2025-12-24
S.7 End of period to which disclosed information relates	date	2026-12-24
Mandatory key indicator
S.8 Energy consumption	energy (kWh)	15,969,137 kWh/year
Sources and methodologies
S.9 Energy consumption sources and methodologies	textBlock	Energy calculations follow the Crypto Carbon Ratings Institute (CCRI) methodology adapted for Proof of Stake networks, which is widely recognised as an industry standard approach. The methodology employs a bottom-up approach where network nodes are considered the central factor for energy consumption estimation. Assumptions are based on empirical findings gathered through public information sites, open-source network crawlers, and proprietary crawlers. The main determinants for estimating hardware energy requirements are the specifications needed for operating client software. The key factors considered in the analysis include node hardware requirements and measured power consumption, the number of active validators and RPC nodes operating on the network, geographic distribution of nodes which affects the carbon intensity of electricity consumed, and transaction volume alongside computational overhead. The data sources informing these estimates include Solana Foundation Sustainability Reports, CCRI Crypto Sustainability Indices, node location data gathered from network crawlers, Ember Global Electricity Review for regional energy mix data, and Our World in Data for renewable energy share calculations. As a precautionary principle, the methodology makes conservative (higher) estimates when uncertainty exists regarding adverse environmental impacts.
Supplementary information on principal adverse impacts on climate and other environment-related adverse impacts of consensus mechanism
Supplementary key indicators
S.10 Renewable energy consumption	percent	38.58%
S.11 Energy intensity	energy (kWh)
S.12 Scope 1 DLT GHG emissions - controlled	GHG emissions (tCO2e)
S.13 Scope 2 DLT GHG emissions - purchased	GHG emissions (tCO2e)
S.14 GHG intensity	GHG emissions (tCO2e)
Sources and methodologies
S.15 Key energy sources and methodologies	textBlock
S.16 Key GHG sources and methodologies	textBlock
Optional information on principal adverse impacts on the climate and on other environment-related adverse impacts of the consensus mechanism
Optional indicators
S. 17 Energy mix	percent
S.18 Energy use reduction
Energy use reduction target (absolute value)	energy (kWh)
Energy use reduction target (percentage)	percent
S.19 Carbon intensity (kgCO2e/kWh)	decimal
S.20 Scope 3 DLT GHG emissions - value chain	GHG emissions (tCO2e)
S.21 GHG emissions reduction targets or commitments	textBlock
S.22 Generation of waste electrical and electronic equipment (WEEE)	mass (tonnes)
S.23 Non-recycled WEEE ratio	percent
S.24 Generation of hazardous waste	mass (tonnes)
S.25 Generation of waste (all types)	mass (tonnes)
S.26 Non-recycled waste ratio (all types)	percent
S.27 Waste intensity (all types)	mass (tonnes)
S.28 Waste reduction targets or commitments (all types)	textBlock
S.29 Impact of use of equipment on natural resources	textBlock
S.30 Natural resources use reduction targets or commitments	textBlock
S.31 Water use	volume (m3)
S.32 Non recycled water ratio	percent
Sources and methodologies
S.33 Other energy sources and methodologies	textBlock
S.34 Other GHG sources and methodologies	textBlock
S.35 Waste sources and methodologies	textBlock
S.36 Natural resources sources and methodologies	textBlock