SEC Filing Document

Company: T. Rowe Price Active Crypto ETF
Ticker: 
CIK: 2089855
Filing Type: S-1/A
Document Type: S-1/A
Date Filed: 2026-05-15
Accession Number: 0001999371-26-010860
Exchange: 
SIC Code: 6221
SIC Description: Commodity Contracts Brokers & Dealers
URL: https://www.sec.gov/Archives/edgar/data/2089855/000199937126010860/tknz-s1a_051526.htm

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connecting smart contracts to off-chain data for markets, events, and data and supporting major market infrastructures, financial institutions, and DeFi protocols. The Chainlink Network relies on a series of decentralized data providers (oracles) nodes that furnish data to blockchains, most notably the Ethereum Blockchain. The initial funding for Chainlink occurred in September 2017 when Chainlink Labs raised $32 million by selling 350 million LINK to the public. In total, one billion LINK were issued, which was the maximum supply. Chainlink Labs exerts significant influence over the direction of the development of the Chainlink Network. However, the Chainlink Network and its associated infrastructure are not owned or operated by any single entity. Rather, the underlying protocols and services are maintained and operated by a decentralized community of participants, including developers, node operators, and data providers. The Chainlink Network consists of three main blockchain components: oracle selection, data reporting, and result aggregation.

Oracle Selection: Oracles are entities
that connect blockchains to external systems and enable smart contracts to execute based on inputs and outputs from on-blockchain and
off-blockchain data sources. A user looking for oracles specifies the requirements in a service level agreement (SLA). SLA parameters
include the desired number of oracles, the desired reputation of the oracles, and the types of requested data. A reputation contract tracks
service-provider performance metrics.

Data Reporting: Once the SLA has been
finalized, off-chain oracles execute and report data back to the blockchain to be utilized by the user. The Chainlink Network includes
nodes that acts as a bridge between off-chain data and the Ethereum blockchain.

Result Aggregation: Once the oracles
reveal their results, an aggregating contract analyzes the results and reports to the reputation contract. Results are evaluated on the
timeliness and correctness of data delivery. Detecting incorrect results is a unique problem for each data feed. For this reason, each
purchaser may specify a customized contract to verify the data. These results feed into the reputation system which helps future users
evaluate the data providers.

LINK is used as a payment token
within the Chainlink ecosystem and a component of the network’s security through staking. The LINK token is used to pay Chainlink
node operators for oracle services. For a smart contract on Ethereum to use a Chainlink node, it will have to pay using LINK. Chainlink
nodes may also stake LINK as collateral as a way of insuring the data delivery service. This staking as collateral function is an optional
feature of LINK that allows operators the ability to earn additional income.

The Chainlink Network also offers
a fee model where off-chain and on-chain revenue from Chainlink ecosystem adoption is converted to LINK tokens. To reduce payment friction
and accelerate adoption, the Chainlink ecosystem allows users to pay for Chainlink services using their preferred form of payment, including
on-chain tokens and off-chain fiat payments. These payments are then programmatically converted into LINK tokens using decentralized exchange
infrastructure and stored in a strategic Chainlink Reserve.

Lumen (Stellar Network)

Lumen is the native token of the Stellar
Network. The Stellar Network’s intended function is to allow users or businesses to conduct cross-currency transactions securely
and quickly. In addition, the Stellar Network also offers a decentralized exchange for the creation and trading of tokenized assets which
track the price of foreign currencies or stablecoins such as USDC.

Stellar was created in 2014 by a
team of scientists, advisers, and engineers of the Stellar Development Foundation (SDF). The Stellar Network was not created through
a fork of the Ripple network, but it does share several similarities with the Ripple network. For example, the Stellar Network
initially employed the Ripple Protocol Consensus Algorithm as its consensus mechanism, which was replaced with the Stellar Consensus
Protocol as a result of a fork of the Stellar blockchain and subsequent upgrade.

The Stellar Ledger uses a consensus
mechanism called the Stellar Consensus Protocol which is an implementation of the Federated Byzantine Agreement pioneered by Ripple, which
is similar to PoS, but does not include staking rewards or incentives. Instead, the Federated Byzantine Agreement is a consensus mechanism
where nodes independently decide which other nodes to trust for information. Lumens transactions are resolved around every six seconds,
which is faster than Bitcoin’s block production, which are resolved around every 10 minutes.

Lumens serve multiple purposes.
Lumens are needed for transaction fees and minimum balances on accounts on the Stellar Network in order to prevent people from overwhelming
the network and to aid in transaction prioritization. This fee prevents users with malicious intentions from flooding the network. Lumens
also serve as a security measure that mitigates Denial-of-Service attacks that attempt to generate large numbers of transactions or consume
large amounts of space in the Stellar Ledger. Similarly, the Stellar Network requires all accounts to hold a minimum balance of lumens,
which incentivizes users to declutter the Stellar Ledger by eliminating abandoned accounts, thereby ensuring that all accounts are likely
to have economic utility on the Stellar Network. Lumens may also facilitate multi-currency transactions when there is a liquid market
between lumens and each currency involved, allowing for liquidity providers to use lumens to transfer value between two currencies, instead
of working across several currency pairs.

SDF oversaw the creation of all
of the lumen in existence and, as part of its custodial mandate, continues to oversee how the vast majority of lumen are distributed.
Initially, 100 billion lumen were created by SDF and were required to be distributed as follows: (i) 50% to individuals, (ii) 25%
to partners such as businesses, governments, institutions, or nonprofit organizations that contribute to the growth and adoption of the
Stellar Network, (iii) 19% to Bitcoin holders and 1% to XRP holders in giveaways conducted in October 2016 and August 2017 and (iv) 5%
reserved for SDF operational expenses. In November 2019, SDF removed, or “burned,” approximately 55 billion of the approximately
105 billion of lumen total supply, and, as a result, SDF held more than 50% of the supply. In addition, lumens may be burned when
spent to process Soroban smart contract transactions. Supply increases by a fixed inflation rate of 1% per year ceased pursuant to a
Stellar community vote in October 2019. The lumen supply is capped as the Stellar Protocol determined that no further lumen could be
created.

Shiba Inu (SHIB)

Shiba Inu (SHIB) is a crypto asset
created in August 2020 by an anonymous entity called “Ryoshi.” SHIB is an Ethereum-based crypto asset and memecoin (considered
by many to be a meme-inspired project based on the Dogecoin meme featuring the Shiba Inu dog as its mascot). To improve efficiency, the
community developed Shibarium, a Layer-2 blockchain built on Ethereum, designed to reduce transaction costs and increase throughput. SHIB
is designed to be used as a medium of exchange and store of value. SHIB had a total supply of one quadrillion tokens.

SHIB is the most widely available
of four principal types of tokens that form part of the SHIB ecosystem. SHIB can be exchanged with any of the ERC20 tokens of the Ethereum
ecosystem. The three other tokens include: (1) Leash, with a total supply of only 107,646 tokens; (2) Bone (BONE), with a total
supply of 250 million tokens and only available on the decentralized exchange ShibaSwap. BONE is a governance token that will allow Shiba
Inu users and developers (the “ShibArmy”) to vote on proposals. The more BONE users possess, the more weight their vote will
carry in the decision process of future projects. (3) TREAT is the Transactional Rewards for Engagement and Access Token, serving
as the Shiba Inu ecosystem’s key reward mechanism and gateway to exclusive features and opportunities.

The SHIB ecosystem supports projects
such as an non-fungible token art incubator and the development of a decentralized exchange called ShibaSwap. Developed by Shytoshi Kusama,
ShibaSwap is the primary DeFi platform within the Shiba Inu ecosystem. ShibaSwap was launched in 2021, based on decentralized exchanges
such as SushiSwap and Uniswap. ShibaSwap is designed to boost the utility of the SHIB tokens, offering a range of typical DeFi tools.
Users can trade tokens, deposit in liquidity pools, stake their coins, and vote on ShibaSwap governance proposals. These functions are
handled by smart contracts on the Ethereum blockchain, which allows users to trade any supported ERC-20 token directly with other users.

Users who add their tokens to a liquidity
pool are termed to be “digging” for BONE token rewards. “Diggers” create ShibaSwap Liquidity Provider (SSLP) tokens
and deposit them into a liquidity pool. These tokens represent each digger’s share in the trading pool and can be used to claim
BONE rewards. The more liquidity a digger provides and the longer SSLP tokens are left in the pool, the more rewards the digger can potentially
earn. This incentivizes users to contribute to ShibaSwap’s liquidity and decentralization, which helps stabilize the tokens’
prices and ensure smooth trading.