Whitepaper

The Content-driven, Universal Gaming and Entertainment Blockchain

v1.0.0Table of Contents
1

1.1
1.2

Summary

Introduction
Market Trends

3

2

Architecture

7

3

3.1
3.2
3.3
3.4
3.5
3.6
3.7
3.8

Ecosystem

Native Contents
Validation
Governance
NFTs
$XPLA
Community
Reserve
Wallet Service

9

4

Token Economy

165Roadmap

19

6

Partners

20

7

Appendix

21

4.1
4.2

7.1
7.2
7.3
7.4

Token Allocation
Use of Funds

C2X Platform
Disclaimers and Risk Factors for Investment
Reference
Glossary

3
4

9
9
10
12
13
13
14
15

16
17

21
22
25
26

1

Summary

1.1

Introduction

Blockchain, a distributed digital ledger sharing information to all participants, is a new technology
developed to make the existing market of biased business models and unbalanced market economy
transparent and fair.

Blockchain technology has continued its development and growth and has expanded into different businessfields and technologies of general society. Non-Fungible Tokens (NFTs) have emerged as an alternative to an
unbalanced market.

NFT is a term that was first introduced after Blockchain technology became widely known by the public, andstands for “Non-Fungible Token”. Anyone can verify and secure digital ownership of NFT items, risk-free ofhacking, forgery or tampering, by storing their exclusive right of use on the Blockchain, so users have full
digital ownership.

Yet this does not mean that there’s only positives to NFTs. Innumerable applications that utilize NFTs havetaken over the world with the growth of the Blockchain market, among which some are, money-grabs, andin worst cases, scams. Due to these applications, the NFT market can present critical risks for both users andinvestors.

According to State of the DApps, among approximately 3,800 decentralized applications, about 25.5% are“Abandoned,” meaning there was no activity in the dApp for 6 months or more, or the domain was inactive,
and approximately 1 out of 4 dApps had not been completely developed or had suspended their services. 1)

XPLA chain was developed with the purpose of resolving these problems and to set the standard forsustainable, long-term development of applications in the blockchain industry, focusing on gaming, contents

and entertainment that will continuously advance in the future. XPLA chain is built to be a platform that
could encompass the blockchain media content ecosystem.

XPLA Chain has its sights set on becoming a Blockchain digital media platform, which will be home to avariety of cultural content. It will serve as a Blockchain platform and central mainnet where all forms of

media content, including movies, music, art, and games, will come together. Furthermore, the XPLA Chain
ecosystem is designed to publicize all service decisions and operations of the decentralized applications on
the platform by enabling all users to be owners.

It is an ecosystem of virtuous cycles where all users and creators are privileged based on a high standard ofstability, fairness and transparency, and thus intended to present a sound direction for digital media content.

3

XPLA Whitepaper1.2Market Trends

The Blockchain Market
The size of the worldwide Blockchain market is estimated to grow with an annual average growth rate of
68.4%, from USD 4.9 billion in 2021 to USD 67.4 billion by 2026. 2)

Breaking down the market share by region in 2020, North America held 39.1%, Europe held 28.6%, AsiaPacific held 20.8%, Africa held 6.8% and Latin America held 4.7% of the total share.

The market is estimated to grow from USD 1.184 billion in 2020 to USD 12.638 billion by 2025 in North
America, from USD 865 million in 2020 to USD 11.288 billion by 2025 in Europe, and from USD 629 million in2020 to USD 10.606 billion by 2025 in Asia-Pacific. 3)

When categorizing the Blockchain market by platform and service, platform was 63.4% of the total in 2020and service was 36.6%. For future projections, the platform sector recorded USD 1.92 billion in 2020 and isestimated to reach USD 23.33 billion by 2025. The service sector recorded USD 1.16 billion in 2020 and isestimated to reach USD 16.33 billion by 2025.

Categorizing the Blockchain market by application supplier, infrastructure supplier and middleware supplier,each of them recorded 41.5% 34.5%, 24.0% share in 2020 respectively. The application supplier sector
recorded USD 1.256 billion in 2020 and is estimated to reach USD 18.839 billion in 2025; the infrastructure

supplier sector recorded USD 1.044 billion in 2020 and is estimated to reach USD 11.529 billion in 2025; andthe middleware supplier sector recorded USD 726 million in 2020 and is estimated to reach USD 9.294 billion
by 2025. 3)[ Market Size and Projections by Component of the Global Blockchain Market ](Unit: USD 100 million)

Annual Growth Rate

2020

2025

233

163

64.8%

71.3%

19

12
Platform

Service※ Source: MarketsandMarkets, Blockchain Market with COVID-19 Impact Analysis 2)

4

XPLA Whitepaper

[ Market Size and Projections by Supplier of the Global Blockchain Market ]Annual Growth Rate

2020

188

2025

115

71.9%

93

61.7%

13
Application Supplier(Unit: USD 100 million)

66.5%

10

7

Infrastructure Supplier

Middleware Supplier※ Source: MarketsandMarkets, Blockchain Market with COVID-19 Impact Analysis 2)

NFT Market

NFTs were the center of attention in 2021. An NFT is a token certifying the holder of a certain digital asset
by using Blockchain technology. The value and the ownership of digital assets were difficult to verify inthe existing economic structure as they could be easily copied and modified. However, through Blockchain
technology and NFTs, the ownership of countless tangible and intangible assets can be certified, and as aresult, value can be formed.

According to the DApp Industry Report announced by DAppRadar in September 2021, the NFT market size

grew by 1,103% in August 2021 when compared to June of the same year. 4) Among the major categories,

the NFT gaming sector is one of the most exciting sectors. In the third quarter of 2021 alone, the NFT gamemarket reached USD 2.32 billion, which was 21.7% of the overall NFT market.

[ NFT Trading Volume (Bn, USD) and Sales Count (M) - 2021 ]Sales Volume, Bn

24.0

Sales Count, M

6.00

16.0

4.00

8.0

2.00

0.0

0.00

Jan 2021

Feb 2021

Mar 2021

April 2021

May 2021

June 2021

July 2021

Aug 2021

Sales Count, M

Sales Volume, Bn※ Source: DAppRadar, DApp Industry Overview: August 2021, 2021.09.02 4)

5

XPLA Whitepaper[ Dominance of NFT Games Trading Volume vs NFT Space Trading Volume (Bn, USD) ]NFT Space

11

NFT Game

10
9
8
7
6
5
4
3
2
1
0

Q1 2021

Q2 2021

Q3 2021※ Source: DAppRadar, BGA Blockchain Game Report Q3 2021, 2021.10.14 5)

Cultural Content in the Blockchain
With the growth of NFTs, there was also a steep increase in the value of art and cultural content in the
Blockchain. Art and cultural content did not see much growth until 2020 but showed rapid growth when it came
to art traded in the Blockchain with its value at USD 2.57 billion and USD 8.59 billion for collectibles in 2021.

Amidst the frenzy, the XPLA Chain was developed aiming to become the main Blockchain digital media
platform.

[ Sales value of art and collectibles NFTs worldwide 2019-2021 ]Art

Collectibles

Sales value in millon U.S. dollars

10,0008,592.4

8,000
6,000
4,000
2,000
0

2,571.7
0.6

2019

4

20.1

2020

9.9

2021

※ Source: Statista Research Department, Sales value of Art and collectibles NFTS worldwide 2019-2021, 2022.05.12 6)

6

XPLA Whitepaper

2Architecture

The XPLA chain is built on Tendermint, which has long-served as the basis for several other blockchain

mainnets, as it has been recognized not only for its outstanding stability, but also its flexibility, scalability

and characteristics of Interchain. With Tendermint as the foundation, and through the usage of COSMOSSDK and a PoS algorithm, every holder in the ecosystem can verify blocks together. The XPLA chain will be
developed to support not only the COSMOS ecosystem but also Ethereum Virtual Machine, also known as
EVM, which will dramatically increase the utilization of the XPLA chain ecosystem by supporting Ethereum-

based blockchain and dApps. The details of XPLA chain architecture could be found from XPLA chain
technical documents (docs.xpla.io) and basic architecture of XPLA chain is as follows:- Chain Node Architecture

XPLA Wallet

Station Server

Service Layer
GateWay Server

Smart Contract

ART Service

Hive SDK

Service Bridge

API

Governance

Stake

Auth

CosmWasm

Application Layer
IBC

dApp

COSMOS SDK

ABCITendermint Core

Networking Layer
Consensus Algorithm

The Tendermint core can be further divided into a P2P network layer and a consensus algorithm.
It has taken the form of a developer-friendly algorithm and can be developed using a variety of languages
based on the structure that focuses on the application. As such, development work can be concentrated on

moving various Web 2.0 services to Web 3.0, and there is also the advantage in that upgrades can be done
through the use of an assortment of modules.

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XPLA Whitepaper

- Consensus Algorithm [BFT-based PoS]New
HeightCommitPropose

New Roundvalid block

invalid blockor not received
in timePre-vote Nil

Propose Blockno +2/3
pre-commit
for blockWait forpre-commits
from +2/3+2/3
pre-commit
for blockPre-commit Nil

Propose Blockno +2/3
pre-vote
for blockWait forpre-votes
from +2/3+2/3
pre-vote
for block

The current PoW (Proof-of-Work) has raised several problems, namely that it exhausts scarce physicalresources and contributes to the destruction of the natural environment based on its sequence ofagreements. PoS was designed to achieve the same level of security as PoW, but early PoS experienced“choice errors” in terms of rewards. Tendermint serves as a complement to PoS. It has been designed as a

BFT-based PoS that randomly assigns the right to propose new blocks to validators during a multi-roundvoting process. Blocks will only be completed if there is at least a 2/3 majority of validators who sign off on
the proposed blocks. Before a block is completed, several rounds of voting or polka are required, and only
up to 1/3 of errors are allowed within the BFT system. Failures can include arbitrary or malicious actions.

- ABCI (Application Blockchain Interface)
The Application Blockchain Interface was designed so that Blockchain transactions can be completed using
any programming language. Through this, various applications can be combined with the Blockchain inorder to convert them to Web 3.0.

- Application Layer
In order to include various media services, which is the main direction of XPLA Chain, XPLA Chain will be
developed and provide various modules of Web 2.0-based services converted for Web 3.0.

By doing this, applications for the XPLA chain will be developed in the layer core and linked to any
corresponding Wallet and dApp services.

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XPLA Whitepaper

- Upgrade
The consensus algorithm of the current Tendermint is decentralized which can be attributed to its security

and safety. However, the more validators there are, the longer the block consensus process may be, which

may not be suitable for application services that require swift transactions. To account for this, the XPLA
Chain is only comprised of a small number of stable validators in the early stages. This would benefit the
speed aspect and secure the safety of a large number of validators through the gradual improvement work
done on the core.

- EVM-Compatibility
Once the XPLA Chain launches, it will be gradually upgraded to be EVM-compatible, expanding the XPLA Chain
ecosystem. With this, all web3 JSON-RPIC APIs will be available on the XPLA Chain, and standard js libraries suchas web3.js and ethers.js will also be compatible. Furthermore, not only COSMOS-based wallets, but also Ethereumbased wallets such as Metamask will be compatible, which will lead to the connections with other chains.

3

Ecosystem

3.1

Native Contents

XPLA chain resolves the layer 1 blockchain’s cold start problem with its native contents. Leveraging theunique partnerships and collaborative assets XPLA team have, the initial application development on the

XPLA chain will be led by high quality Web 2 Content Providers. These native contents will be the key growth

drivers of transaction volume and the wallet users during the initial deployment of the XPLA chain. The
organic users generated by native contents will induce external content creators to build additional contents

and other applications such as DeFi, NFTFi and SocialFi for the platform users, eventually forming a virtuous
cycle that leads to ecosystem expansion.

3.2

Validation

XPLA Core will be run by Tendermint Consensus. Validators will run full nodes, participate to the consensus
through vote broadcasting, validate new blocks on the Blockchain and participate in the governance of theBlockchain. Validators can vote on behalf of the delegators, and the validator's voting power will be weighted

according to the total amount of staking. By operating the mainnet node, the validators will receive partof the transaction fee as compensation for new block verification and participate in the mainnet operation
under the common goal of expanding the ecosystem. The overall validation process is as follows:
1. The degree of influence of the validator is established.

2. The validator is elected as leader and proposes a new block.
9

XPLA Whitepaper3. The degree of influence of the validator is recalculated and a small amount is subtracted at the end of
a voting round.

4. With each passing round, the degree of influence increases in proportion to the right to vote.
5. A leader is elected again from the group of validators.

Because the protocol selects block proposers deterministically, knowing the group of validators and the voting
rights of each validator allows for accurate calculations of who the block proposer will be in successive rounds.
This is where all necessary precautions should be taken, while maintaining fault tolerance and accessibility of
the user. Otherwise, their stake in the stock may be slashed by being excluded from the validator group.

3.3

Governance

XPLA Chain will be developed as a universal Blockchain media platform to establish a fair and transparent

ecosystem by clearly specifying the sovereignty of creators and users, with the purpose of establishing an
ecosystem of virtuous cycles where both users and creators, as participating parties, are privileged.

By holding $XPLA tokens, the Governance Tokens of XPLA Chain, users will be able to exercise their rights on
ecosystem operational matters through the distributed network voting system. In other words, anyone fromanywhere may exercise their decision-making right in the XPLA Governance by holding $XPLA Token.

XPLA Governance will operate under a system where all XPLA Chain ecosystem participants vote on active
proposals. In order to prevent malicious decisions from adversely affecting the initial ecosystem operation,
the delegated volume will be evenly distributed to the initial validators to allow stable voting to occur.

After that, if the amount of delegation by stakeholders gradually increases, the corresponding volume ofdelegation will be redistributed evenly over a certain period of time.

$XPLA holders may cast their vote for a proposal that they desire to activate and implement. Such a proposal
may be implemented on the XPLA Chain ecosystem according to the voting results.

Validators
The validators of XPLA Chain will have the permission to put important proposals for XPLA Chain ecosystemon the agenda to XPLA Governance by performing the following functions:In the case of the Governance Proposal, which has a direct impact on the ecosystem, only $XPLA volume,
staked to become a validator, will have voting power; other $XPLA will not be counted as voting or quorum.
Validators who have lost their authority may still vote, but if they are not activated as validator at the endof the voting period, their votes will not be reflected in the vote. In other words, the staking weight only
for the delegation to activated validators will be included in the voting.

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XPLA Whitepaper

All XPLA Governance Participants
Anyone holding $XPLA will be a member of the XPLA Chain ecosystem. The XPLA Chain ecosystem will betransparent and fair, as all processes and procedures of decision-making within the Governance of the XPLA
Chain ecosystem will be disclosed to all XPLA Chain participants. Participants in the XPLA Governance will
have voting rights.
In the decision-making process, XPLA Chain participants may express opinions by directly participating in
the votes according to their pro-rata stake in $XPLA, and a resolution will be made by the majority.

XPLA Governance participants will act as surveillants for the sound and transparent operation of the XPLA
Chain ecosystem.
The XPLA Chain ecosystem will establish an evaluation system on the Governance, and XPLA Governanceparticipants may evaluate the Governance system and its operation.

DecisionmakingDecisionmaking

Rules
Rules

Administration
Administration
for Allfor All

XPLA
XPLA
Governance
Governance

PolicyPolicyMissionMission

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XPLA Whitepaper

3.4

NFTs

The XPLA chain provides benefits to all users and creators participating within the ecosystem by using
blockchain technology and NFTs which will compliment games, entertainment contents built on the chain.

The Non-Fungible Token(NFT), with unique identification being its key functionality, was not developedin consideration of its usability in different application use cases such as games. As the need for the NFT

design that encompasses various usability is clear, XPLA chain will devise different token standards toembrace and enhance a wide range of contents and entertainment applications.

Below lists the benefits provided through NFTs at current state. XPLA chain will be developing dynamic NFT
standards in the future to tackle problems like NFT composability within the gaming and entertainment:

NFT

Permanent
Digital
OwnershipPreservation
of
Value

Security
andInvariability

Decision
RightsPermanent Digital Ownership

Users will have permanent digital ownership of the NFT items they hold. All NFTs held on the Blockchain
can be tokenized to be used in any other game within the XPLA Chain ecosystem or to be exchanged withother virtual assets.


Preservation of Value

NFT acquired within a dApp can be traded or transfered through the Marketplace and Wallet and thevalue of NFT will be preserved within the XPLA Chain.
Security and Invariability

NFTs within the XPLA Chain ecosystem will be easy to tokenize or trade. XPLA Chain will use a Marketplace
managed with Blockchain technology and will provide transparent and safe transactions by using a distributed
network. A NFT once created, has a unique identifier which is distinguishable from any other item.


Decision Rights

Users themselves have full rights and control on their assets through NFTs. Users can freely decide on
how to trade or transfer their own items.
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XPLA Whitepaper

3.5

$XPLA

$XPLA tokens are the highest-level tokens within the XPLA Chain ecosystem with a limited total supply, andholders will be given the right to participate in the operation of the ecosystem. $XPLA tokens can be freely
held, transferred and exchanged following the Blockchain standard. As the Governance Token, $XPLA ismaintained for the exercising of rights as principal agents in operating Mainnet, such as making resolutions
and diverse policies for the gaming platform.


Governance

Ownership of $XPLA, the Governance Token gives rights as a principal agent in operating the ecosystemthrough the distributed network voting system.
Operation$XPLA tokens will function as a medium that links diverse activities within the platform. Platform participants
can use $XPLA tokens for the sale or purchase of NFTs in the Marketplace, or exchange them with various
tokens within the XPLA Chain ecosystem through the Wallet.
Validation

By owning, staking and delegating $XPLA tokens, users can take part in the operation of the XPLA Chain node
and are paid a portion of the transaction fees that occur in the XPLA Chain ecosystem.

3.6

Community

Community is a pool that can be utilized to stabilize the network and support the ecosystem expansion. The
method of accumulating some of the fees generated within the existing ecosystem to the Community canlead to a continuous vicious cycle in the case of significant transactions volume decreases, resulting in fewer
ways to grow pools. To tackle this, the XPLA chain boldly deleted the Community pool distribution occurringin transactions in order for the pool to continue to grow, and instead strengthened the Staker and Validator
distribution. In addition, XPLA Governance will decide on the services proposed to the ecosystem through theContents Proposal and propose a close connection point to enrich the pool according to the contribution of

the services. The accumulated tokens within the Community pool will be used for the purpose of expanding

and securing the XPLA chain ecosystem. Initially, the Community pool will be operated for the stability of
the chain and the content selection point, and later, it will be operated around proposals that focus on the
expansion of the chain. Examples of Community proposals are as follows.


Bug Bounty Program Proposal

Bug Bounty Program Proposal is a Withdrawal Proposal to enhance the security of the XPLA chain. The
proposal compensates those who find security vulnerabilities in the mainnet or major services.
13

XPLA Whitepaper

The Bounty Program is a program that encourages participants of the ecosystem to take part in XPLA chain’s
development and improvement. Through the Bounty Program, participants will receive a set amount ofcompensation as part of the ecosystem’s security protection system, and the voluntary participation of users
will help establish a virtuous cycle for the XPLA chain.
The Community pool of the XPLA chain will be partly used for the Bounty Program’s operation undercommunity agreement. A slew of systems will be in place to ensure a sufficient compensation pool for those
who contribute to the Bounty Program and development.


XPLA Hackathon Proposal

XPLA Hackathon Proposal is a proposal to hold a hackathon to support promising projects working towards
building a new Web 3 dApp ecosystem to lead the trend on the XPLA chain.
XPLA Springboard Proposal

XPLA Springboard Proposal is a Withdrawal Proposal to select and directly support platform dApp projects
for building a new ecosystem on the XPLA chain. In addition, the Native Contents Proposal will lead tocontinuous content expansion, which will allow new dApp projects to settle in the XPLA chain ecosystem.

3.7

Reserve

The Reserve is a wallet used for the operation of the XPLA chain ecosystem. Certain portions of thecommission fees generated within the ecosystem will be accumulated in the Reserve, and the tokens
accumulated in the Reserve will be used for the stable operation of the XPLA chain ecosystem. The Reserve

will function to establish the ecosystem in its early stages, and thereafter, it will be operated for the
purpose of the continued existence of the ecosystem. The use of the Reserve is determined through thevoting of XPLA Governance, and examples of proposals as a usage are as follows:Genesis Liquidity Setting Proposal

This is a proposal for the liquidity for generating an initial ratio between $XPLA tokens or various Token
Swap Pools.


Pool Balance Liquidity Support Proposal

The Pool Balance Liquidity Support Proposal is a proposal that distributes tokens according to any liquidity
changes in each token due to the launch of new games and new inflows.
Convert Pool Support Proposal

The Convert Pool is a system that enables an exchange between tokens. The Convert Pool Support Proposal
is a proposal that supplies tokens to the Convert Pool in order to stabilize the conversion ratio without
interfering with the market value.

14

XPLA WhitepaperToken Burning Proposal

This proposal is a burning proposal for $XPLA tokens held by the Reserve to control the liquidity of $XPLA
tokens circulation.

3.8

Wallet Service

XPLA Chain provides an independent wallet, XPLA Vault, and other separate Wallet services that are complete
open source Blockchain-based wallets, as a link that connects dApps together within the XPLA Chain

ecosystem, by providing diverse functions including managing, sending Blockchain assets through Wallet
services.

Users can store and manage all digital assets acquired through the dApps within the XPLA Chain ecosystem.
Users will be able to exercise their voting rights and staking $XPLA, and to preserve the value of various typesof assets, items and resources acquired within the XPLA Chain ecosystem.

15

XPLA Whitepaper

4

Token Economy

4.1

Token Allocation

The maximum supply of $XPLA tokens to be issued will be 2,000,000,000.
Tokens will be circulated gradually based on the token’s usage and distribution plan.
The issuance and distribution plan for each use of $XPLA tokens as well as allocations based on eachcategory are as follows:

Item

Quantity

Ratio

Remarks

Ecosystem

860,000,000

43%

Amount for the expansion, development
and maintenance of the XPLA Chain ecosystem

Community

60,000,000

3%

Supplied to the community contributing
to the ecosystem

Genesis Contributors

300,000,000

15%Initial partners contributing to the ecosystem

Backers

300,000,000

15%Supplied to investment partners

Marketing

60,000,000

3%

Supplied to marketing for the growth of the platform

Team

300,000,000

15%Provided to contributors of the ecosystem
platform’s development

Validation Settlement

60,000,000

3%Provided to stabilize the validators participatingin the operation of the mainnet node

Advisors

40,000,000

2%Provided to advisors participating in the initial designof the ecosystem

Reserve

20,000,000

1%Reserve for emergencies or risks

Total Offering

2,000,000,000

100%

Total supply

16

XPLA Whitepaper

1,200,000,000
1,000,000,000

43%

800,000,000
600,000,000

15%
3%Ecosystem

Community

4.2

Use of Funds



Ecosystem (43%)

15%2%GenesisContributors

Backers

400,000,000

15%
3%

3%

2%

Marketing

Validation
Settlement

Advisors

Team

1%
Reserve

200,000,000
0This supply for Ecosystem will be distributed to expand the ecosystem through partnership or investment(directly or indirectly) with Defi projects, protocols, marketplaces, and dApps, or to maintain the XPLA
Chain ecosystem, and can be used to strengthen the stability and security of the mainnet throughadditional recruitment of the validators. Ecosystem supplies will be operated under the goal to maintaina virtuous cycle of ecosystem.
Community (3%)

This supply will be distributed for the purpose of revitalizing communities and creating market autonomy,
which are the main components of the mainnet ecosystem. The supply will be used to link and constructecosystems organically. Funds will also be issued and provided naturally based on ecosystem design
logic. In addition, if funds are to be used for certain projects, votes by XPLA Governance should be passed
through the On-Chain Governance proposal.
Genesis Contributors (15%)

This supply for Genesis Contributor will be distributed to the partners that contributed in the initial
creation of XPLA Chain, and such Genesis Contributor will be operating as content providers in order tocontribute to the establishment of the XPLA Chain ecosystem.
Backers (15%)

This supply for Backers will be distributed for the purpose of ecosystem construction at the initial stage ofthe platform and will be provided to initial investment partners to form and stabilize the initial ecosystem.
Marketing (3%)

This supply for Marketing will be used for marketing activities for the initial growth of the platform. It will
be used for marketing such as user acquisition and branding to initially build the platform and will be thebasis to continuously promote the platform’s expansion and advancement.
17

XPLA WhitepaperTeam (15%)

This supply for the Team will be distributed to developers from diverse fields as required for the initialdevelopment of the platform, developers who participated in the development and operation of themarket economy, and other parties who have participated directly or indirectly in establishing theplatform.


Validation Settlement (3%)

This supply for Validation Settlement will be provided to stabilize the validators who participate in theoperation of XPLA Chain nodes. This supply for Validation Settlement will be evenly delegated to the
XPLA validators. If the number of XPLA validators is changed, the delegation amount will be automatically
redistributed by the number of XPLA validators through Smart Contract. The delegation rewards for this
supply will be automatically recirculated to the $XPLA stakers through Smart Contract and Validator
Reward Pool, a pool for the circulation of delegation rewards. This supply will be managed anddistributed by Smart Contract system.
Advisors (2%)

This supply for Advisors will be distributed to external advisors and consultants who participated in theinitial development and design of the platform.


Reserve (1%)

This supply for Reserve is set to prepare for urgent or risky circumstances during the operation of theecosystem.
It will be used based on the situation if the XPLA validators deems it as urgent through XPLA Governance.
Operation will be flexible according to the details of market construction by the foundation, its operating
entity, and the alliance, but it will be operated based on the prevention/exclusion of a sudden fluctuationin the market.

18

XPLA Whitepaper

5Roadmap

Build a Digital Media Content Centerin the Web 3.0 Era that Preserves Cultural and Artistic Values
The market is endlessly changing and growing even at this moment. We are realizing unimaginable possibilities
in the existing markets and experiencing explosive growth with unlimited potential.
XPLA Chain will respond in the most active manner to such changes and is ready to be the most optimal
ecosystem.
Users around the world will be able to experience completely different environments through their activities in abrand-new Blockchain digital content medium.
XPLA Chain will become a basis for continuous advancement towards the future for both users and creators, as
it will provide the best experience to users and the most stable development environment for creators.

19

XPLA Whitepaper

6Partners

20

XPLA Whitepaper

7

Appendix

7.1

C2X Platform

The XPLA Chain has been developed based on the existing C2X Blockchain Gaming Platform. The C2X platform

will be migrated to the XPLA Chain and resume the service after the launch of the XPLA Chain. The architecture
and roadmap of the C2X platform can be found from Litepaper at its website(c2x.world) in the future.

The C2X platform will continue to exist as an dApp of the XPLA Chain from now on, and $XPLA tokens willcontinue to the values held by $CTX tokens held; to be the bridge and help Web 2 services to make their way
into the world of Web 3 easier.

$CTX Tokens, which had been issued and distributed into the market, will be migrated to $XPLA tokens after
the launch of the XPLA Chain.

There will be few differences in token allocation because $XPLA tokens are now not only a governance token
but also the native tokens for the XPLA Chain.

Previous token allocation for $CTX Tokens and new token allocation for $XPLA tokens are as follows:
$CTX

$XPLA

Difference

Ecosystem

800,000,000

860,000,000+60,000,000

Community-

60,000,000

New

Genesis Contributors

300,000,000

300,000,000-

Backers

200,000,000

300,000,000+100,000,000

Marketing

60,000,000

60,000,000

-

Team

300,000,000

300,000,000-

Advisors

40,000,000

40,000,000-

Validation Settlement-

60,000,000

New

Reserve

100,000,000

20,000,000-80,000,000

Treasury

100,000,000-

RemovedBusiness Partnership

100,000,000-

Removed

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XPLA Whitepaper

7.2

Disclaimers and Risk Factors for Investment

In relation to any and all information specified in this whitepaper, you hereby unconditionally andirrevocably accept and agree to the following:

NO ACCESS FROM RESTRICTED TERRITORIESYou fully acknowledge that it may not be lawful for individuals of certain countries or certain categories toaccess this whitepaper and confirm that you are not prohibited or restricted to access this whitepaper by any
laws or regulations.

You fully understand and agree that unless permitted by applicable laws and regulations, any offerings ofthe tokens mentioned in this whitepaper (the “Tokens”) shall not be made directly or indirectly, nor shall any
related documents be sent, in or into countries where participating in such offering is prohibited.

For clarity, any offerings of the Tokens are not intended to be made in the People’s Republic of China or in
the United States of America.

The writer of this whitepaper, the issuer of the Tokens, their affiliates, officers, directors, employees, advisors
and agents (collectively the “Writer Parties”) shall not be liable or responsible for any person who accessed
this whitepaper from any jurisdiction which prohibits or limits access to this whitepaper.

Information Only
This whitepaper published by XPLA is provided for information purposes only without any kind of warranties
including the following. Any conclusion or business plan found in this whitepaper is not guaranteed in its
accuracy or completeness and no representations and warranties whether express or implied are made.
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No warranty of merchantability, no warranty of fitness for a particular purpose,no warranty of the title or non-infringement

No warranty that this whitepaper contains no error and that it is proper for any kind of purpose
No warranty that such contents do not infringe upon the right of any third party

All warranties are hereby expressly disclaimed. The Writer Parties shall not be responsible for any and all kind ofloss or damage (including, but not limited to, direct, indirect, special or consequential loss, actual or conclusive

loss and damages, and collectively hereinafter referred as “damage”) that arise as a result of any use, error,
omission, reference, dependence, reliance of any information contained in this whitepaper.

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XPLA Whitepaper

This whitepaper may be modified or amended, and the latest version hereof will be distributed through therepresentative website. No notification will be provided in each and all modification or amendment to thewhitepaper.

This whitepaper is provided for information only, and it is essentially a business proposal and shall not be legallybinding in any case.

Information such as reports specified within this whitepaper contains estimates for the future as prospective innature, and as it contains uncertainties as they are yet unknown, there may be crucial disparities between thoseestimates and the actual results. The information contained in this whitepaper may include statements that are
deemed to be “forward-looking statements,” which are not statements of historical facts. These forward-looking
statements inherently contain risks and uncertainties as they relate to events or circumstances in the future.
Accordingly, any information, opinions and prospective information including estimates, if contained herein, in

relation to the expected roadmaps, development and anticipated conditions and performances of the relevant
entities, are subject to update, expansion, revision, independent verification and amendment.

The Writer Parties, except otherwise required by any law, expressly make no undertaking to update or amend
any forward-looking statements and make no representation or warranty that any events mentioned in thoseforward-looking statements will actually occur in reality. The Writer Parties intend to achieve all goals specified

in this whitepaper but in the event of any unpredicted circumstances, such goals may not be achieved and theWriter Parties do not bear any responsibility or obligation to notify you in such cases.
No Offer
All information contained in this whitepaper is not intended for information for an offer or solicitationof investment in any specific form or is not a proposal or an offer to solicit the purchase of any form of
securities in any jurisdiction. It is for information purposes only to promote understanding of the business.

This whitepaper does not constitute or form, and is not intended to be, an offer or solicitation of an offer

to buy or sell, subscribe for, underwrite or purchase any form of investment or securities or other financial

instruments, nor shall it or any part of it form the basis of, or be relied upon, in any way in connection with,any contract or investment decision relating to the same.
No Advice
No content contained in this whitepaper constitutes any legal, financial, tax or other advice. You must

conduct your own due diligence and shall comply with all local laws relating to virtual assets, taxes,
securities and other regulations of the respective jurisdiction. You hereby fully acknowledge and agree thatyou are encouraged to independently consult with professional consultants.
No Agreement
This whitepaper shall not form any basis of investment decision or decision to enter into any contract, andshall not be relied on in any case. All agreements between the issuer and you in any case of sale, exchangeor acquisition of Tokens shall be governed by a separate document (the “Sale Document”). In case of any
inconsistency between this whitepaper and the Sale Document, the Sale Document shall prevail.
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XPLA Whitepaper

No Advertisement
This whitepaper is for general information purposes only, and it does not consist of any promotional materialand shall not be used to propose or solicit subscription or investment on behalf of the Token issuer.

The distribution of this whitepaper may be restricted or prohibited by the applicable laws or government
authority of a jurisdiction. Any recipient of this whitepaper shall acknowledge and comply with all such
restrictions or prohibitions, and the Writer Parties shall never be liable for any party in relation to theforegoing.

Regulatory Risks
This whitepaper is not prepared pursuant to any judicial jurisdiction, regulation or act of any specificcountry, and no regulatory authority or government entity has examined or approved this whitepaper.

No act, regulation or regime with respect to virtual assets, Blockchain games and relevant applications havebeen introduced or implemented in numerous jurisdictions around the world. If any regulatory authority or
government entity introduces any laws or regulations to regulate such virtual assets, Blockchain games andrelevant applications, or makes changes to existing laws, regulations and/or rules, it may have a material
adverse effect to any individuals or entities in relation to this whitepaper or the Tokens, and it may disable
the implementation or operation of plans as referred to in this whitepaper, and/or impair the ability of any
relevant entity referred to in this whitepaper to function or operate as intended, or at all.
Market Volatility
Any relevant Blockchain system or tokens may become no longer commercially viable or operable where

there may be changes in political, societal, economic, or stock or virtual asset market conditions, or where
the market value of, or the demand for, virtual assets or the relevant Blockchain systems may go down or
become trivial.

Other Disclaimers
Even with their best efforts, the Writer Parties may not be able to implement or maintain the objectives,
business strategies and plans as specified in this whitepaper. The roadmap specified in this whitepaper
has been prepared on the basis of the current technical infrastructure and know-hows, but there may bepotential business or technical barriers in the future which might impair or disable their actual operation.

This whitepaper is a document containing certain information about the Writer Parties and the content
hereof is subject to change in accordance with changes in the relevant laws and regulations, businesscircumstances and industry prospects, or the judgment of the management body, etc.

To the fullest extent permitted by applicable laws, no Writer Parties shall be liable for any liability, claim,

demand, loss or damage (including, but not limited to, negligence claims) arising out of or in any way related
to your acceptance or reliance on the information contained in this whitepaper regardless of whether you
have been advised of the possibility of such damages.

24

XPLA WhitepaperIf any references have been made to any third-party website or information source, we may not have sought

further verification on the accuracy, completeness and timeliness of the information specified therein, andno warranties of any kind are made with respect to the same.

With respect to your purchase, exchange or acquisition of any Tokens, if any, you are hereby deemed to fully
understand and agree as follows:
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Virtual assets, including the Tokens, have no limit to their upper/lower limit price, and have demonstrated
extreme volatility in their values in accordance with various factors such as speculative demands or changes
in domestic or international regulatory conditions, having unique characteristics related to the market
conditions of a 24/7/365 worldwide transaction service.
It is at your own risk and responsibility with respect to any investment decisions in virtual assets, and any andall possible losses and damages will be borne solely by you.

No warranties whatsoever with respect to the Tokens or their values are made or secured by any government,
the Writer Parties or any third party.
The Tokens are not to constitute capital market products such as securities or derivatives of any form, andthey are not issued or registered under any Security Act or other similar laws of any specific country or
jurisdiction in which any potential holder of the Tokens is located.

You shall not, are not eligible to, sell or use the Token in and from any jurisdiction in which any sale or use
of certain digital currencies, digital assets, virtual assets or cryptocurrencies is prohibited, and any person in
violation of such shall be solely responsible for such violation, and XPLA and its relevant parties shall not be
responsible for any such cases.

7.3

Reference1)

StateofthedApps, DApp Statistics, 2022

3)

MarketsandMarkets, Blockchain Market with COVID-19 Impact Analysis, by Component, Provider, Type, Organization Size,

2)

TechNavio, Global Blockchain Market, 2020

Application Area and Region - Global Forecast to 2026, 2021

4)

DAppRadar, DApp Industry Overview: August 2021, 2021.08

6)

Statista Research Department, Sales value of Art and collectibles NFTS worldwide 2019-2021, 2022.05.12

5)

DAppRadar, BGA Blockchain Game Report Q3 2021, 2021.10.14

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XPLA Whitepaper7.4

Glossary
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NFT: Non-Fungible TokendApp: Decentralized Application

Collectible: A project or asset whose primary function is to be collected

Wallet: An electronic wallet enabled to store and manage cryptographic assets, by which technology they are stored on a
Blockchain

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EVM: Ethereum Virtual Machine

Governance: Sovereignty to present opinions through votes within the platform
Validation: Verification of the integrity of new blocks created in the Blockchain
Delegation: A proof algorithm to delegate the authority of Proof of Staking

Smart Contract: A system intended to facilitate the performance of a contract automatically when the conditions of thecontract are completely fulfilled where the terms and conditions of such contract are programmed and stored in anelectronic contract document in advance
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Mainnet: The network where a Blockchain is operated
TPS: Transactions Per Second
Marketplace: NFT Exchange

Node: A single server unit, composing a network

Pending: Pending state as a result of causes such as incomplete transactions while creating an NFT
CEX: Centralized Exchange

DEX: Decentralized Exchange

Swap Pool: Blockchain technology that supports exchanging tokens to other tokens
PoS: Proof of Stake

PoW: Proof of Work

Minting: An act of minting tokens

Token Swap: An act of exchanging one token for another in a Swap Pool

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XPLA Whitepaper