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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to operate together in a single ecosystem. This gives developers scale, while still preserving a high degree of flexibility to customize features. This flexibility allows for blockchains built on the Polkadot protocol to optimize for their own use cases. To accomplish heterogeneous sharding, Polkadot employs three types of blockchains that combine into one entity. The first type of Polkadot blockchains are multiple, purpose-built chains that run in parallel, named Parachains. Parachains are where the future independent blockchains for decentralized applications will be built and operate. These “sovereign” chains can be created by developers using an already existing toolkit named Substrate (developed by Polkadot’s corporate entity, Parity). Substrate’s turnkey nature reduces project development time substantially, making the Polkadot Network more attractive and therefore more valuable. Parachains can have their own native tokens and governance outside of DOT, but Parachains rely on the Polkadot system and DOT token for security and operability.

The second Polkadot blockchain is
the Relay Chain acting as a base layer that connects all the Parachains together. The Relay Chain validates the state transition of all
the connected Parachains. It is also what allows the Parachains to stay heterogeneous. By offloading the consensus work and block building
to the Relay Chain, individual Parachains sacrifice less functionality and gain scale from parallel transactions that can be done on the
latent capacity around the chain. Also, importantly, the Relay Chain facilitates cross communication between Parachains. Akin to the ARPAnet
for the early internet, Polkadot harmonizes blockchain communications to allow data to move independently, facilitating the creation of
large numbers of currently unworkable decentralized applications. The Polkadot system uses the Relay Chain as a heterogeneous, multi-chain
to ensure the secure transfer and authenticity of each DOT and hosts the public transaction ledger. The Relay Chain is a decentralized
digital file, or ledger, that contains all the records of DOT and is stored in multiple copies globally on the computers of users of the
Polkadot Network. The Relay Chain is public and accessible to all, and includes a record of every DOT, every transaction in DOT in order
and every public address on the Polkadot Network. Every computer on the Polkadot Network is a “node,” and collectively all
of the nodes ensure that each new transaction in DOT adheres to certain rules before it is added to the Relay Chain.

Transaction data is permanently recorded
on the Relay Chain in data files called “blocks,” which reflect transactions that have been recorded and authenticated by
Polkadot Network participants. Each newly recorded block of transactions refers back to and “connects” with the immediately
preceding recorded block in the ledger. Each new block records outstanding DOT transactions, and outstanding transactions are settled
and validated through such recording. Although there are size limits to each block, the Relay Chain is designed to represent a complete,
transparent, secure and unbroken history of all the transactions that have occurred on the Polkadot Network. The Polkadot Network and
associated software programs can view the Relay Chain to determine the exact balance, if any, of DOT associated with any public address
listed on the Relay Chain.

The third Polkadot blockchains, are
Bridges, which allow Parachains to interact with external blockchains like Ethereum or Bitcoin Blockchain, although with some limitations.
Due to the nature of decentralized technology, there will not be one blockchain to run all applications, yet there should not be a constellation
of blockchains, all in the same universe but galaxies apart. The interoperability of Polkadot is therefore a notable feature.

Polkadot Network uses a “Nominated
PoS” algorithm, in which “nominators” can delegate their tokens to trusted validators, giving them voting power in selecting
validators while spreading security responsibilities across the network.

The Polkadot Network launched with
its proof of concept software release in May 2018, and Polkadot’s first live and operational blockchain candidate was launched in
May 2020. This was the first step in a multi-stage deployment per the project’s planned roadmap. This first version of Polkadot
used a Proof of Authority consensus mechanism managed by six validators in the Web3 Foundation. In June 2020, the Web3 Foundation started
the initial validator election process to transition the network to a Nominated PoS consensus mechanism. This started the process of allowing
DOT token holders from the fundraise the ability to stake DOT with newly elected validators. In July 2020, the Web3 Foundation used its
“superuser” key to upgrade the network and unlock full governance authority. Shortly thereafter, the newly formed governance
council removed the Web3 Foundation’s “superuser” privileges, allowing for the network to become permissionless. Then,
in August 2020, DOT token transfers were unlocked.

In the October 2017 fundraise of DOT,
10 million DOT were created and reportedly distributed as follows: 50% allocated to 2017 token sale investors; 5% allocated to the 2019
private sale investors; 3.4% allocated to 2020 token sale investors; 11.6% retained by the Web3 Foundation for future fundraising efforts;
and 30% allocated to the Web3 Foundation for operating expenses used to develop Polkadot.

DOT is stored on a blockchain and
is linked to a unique digital address, or wallet, that is associated with a public key and a private key. Ownership of DOT is established
by recording on the Relay Chain the unique address and the amount of DOT held. The wallet thus holds the cryptographic keys associated
with DOT, rather than the DOT itself. A Polkadot wallet is tied to Polkadot network functions, like participating in governance, contributing
to crowdloans, and staking.

DOT is mainly used for the functional
mechanisms of the Polkadot Network. The DOT serves five primary functions: governance over the Polkadot Network, allowing for interoperability
between Parachains and Bridges, as the gas token of the Polkadot Network, staking for network operations and bonding for Parachains to
secure a spot on the Relay Chain. When messages are sent between two blockchains on the network, DOT is used to pay for fees. DOT holders
are also responsible for managing significant events by voting on protocol upgrades and fixes. The token also ensures that network participants
act in a manner that does not damage the network by putting capital at risk. In order to provide an incentive to participate in the operation
of the Polkadot Network, participants who perform their delineated roles in validating transactions are awarded DOTs. Unlike tokens generated
by mining on blockchains that use a Proof-of-Work consensus algorithm, the Polkadot Network uses a PoS algorithm.

Dogecoin (Dogecoin Blockchain)

Dogecoin Network is a peer-to-peer,
decentralized network of computers that operates on cryptographic protocols. The Dogecoin Blockchain is the decentralized ledger upon
which Dogecoin transactions are processed and settled, serving as the underlying technology of the Dogecoin Network. No single entity
owns or operates the Dogecoin Blockchain, the infrastructure of which is collectively maintained by a decentralized user base. Dogecoin
is the native crypto asset of the Dogecoin system. The supply of Dogecoin is intentionally unlimited, with thousands of Dogecoins introduced
regularly rather than a capped limit.

The Dogecoin Network allows people
to exchange tokens of value, Dogecoin, which are recorded on the Dogecoin Blockchain. The Dogecoin Network is based on a shared public
ledger, the Dogecoin Blockchain, similar to the Bitcoin network. However, the Dogecoin Network differentiates itself from other crypto
asset networks in that its stated primary function is community-driven and widely used for tipping and microtransactions, rather than
serving as a store of value. The Dogecoin Network is designed to be a fast and accessible peer-to-peer payment system. As a result, the
Dogecoin Network and Dogecoin aim to improve the ease and affordability of transferring value while fostering a fun and inclusive community
around the crypto asset.

Dogecoin was originally developed
by software engineers as a lighthearted take on the rapidly emerging crypto asset market in 2013. They believed that existing crypto assets
at the time, such as Bitcoin, had overly grandiose goals to “change the world,” and launched Dogecoin as a fun, community-driven,
and lighthearted alternative. The project adopted a popular internet meme – a photograph of a Shiba Inu dog named Kabosu, as its
brand image and mascot, and chose the name “Dogecoin” in reference to the dog as a way of emphasizing the fun and friendly
aspects of the project. The use of an internet meme as inspiration for the project later caused users to refer to Dogecoin as a memecoin
and sparked the creation of many competitor memecoins.