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 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.

“Bury” is
ShibaSwap’s term for staking, another key feature of the platform. “Buried” tokens are temporarily removing them
from circulation. In return for this, stakers earn rewards in the form of additional tokens. On ShibaSwap, SHIB, Leash, and Bone
tokens can all be “buried.” Once buried, these tokens earn returns paid out in a wrapped version of the staked tokens.
For instance, if Leash or SHIB tokens are staked, stakers receive xLEASH or xSHIB in return. The rewards for burying tokens are
distributed weekly, but only one-third of the rewards can be claimed immediately. The rest are locked up and vested over six
months.

SUI (SUI)

SUI is a crypto asset that is created
and transmitted through the operations of the peer-to-peer Sui Network, a network of computers that operates on cryptographic protocols.
No single entity owns or operates the Sui Network, the infrastructure of which is collectively maintained by a broad user base. The Sui
Network allows people to exchange tokens of value, called SUI, which are recorded on a public transaction ledger known as a blockchain.
SUI can be used to pay for transaction fees and network operations, including computational power on the Sui Network, or it can be converted
to fiat currencies, such as the U.S. dollar, at rates determined on crypto asset trading platforms or in individual end-user-to-end-user
transactions under a barter system. Furthermore, the Sui Network was designed to allow users to write and implement smart contracts—that
is, general-purpose code that executes on the network and can instruct the transmission of information and value based on a sophisticated
set of logical conditions. Using smart contracts, users can create markets, store registries of debts or promises, represent the ownership
of property, move funds in accordance with conditional instructions and create crypto assets other than SUI on the Sui Network. Smart
contract operations are executed on the Sui blockchain in exchange for payment of SUI. Like the Ethereum network, the Sui Network is one
of a number of projects intended to expand blockchain use beyond just a peer-to-peer money system.

The Sui Network primarily uses a delegated
proof-of-stake consensus mechanism to incentivize SUI holders to validate transactions. Unlike proof-of-work, in which miners expend computational
resources to compete to validate transactions and are rewarded coins in proportion to the amount of computational resources expended,
in proof-of-stake, validators risk or “stake” coins to compete to be randomly selected to validate transactions and are rewarded
coins in proportion to the amount of coins staked. Any malicious activity, such as disagreeing with the eventual consensus or otherwise
violating protocol rules, results in the forfeiture or “slashing” of a portion of the staked coins. Proof-of-stake is viewed
as more energy efficient and scalable than proof-of-work.

Unlike many other smart contract platforms
that batch transaction into blocks, Sui validators individually validate transactions. Sui uses “Narwhal” and “Bullshark”
as its memory pool and consensus engines, respectively, which complement proof-of-stake by allowing transactions performed on Sui to be
verified and executed in parallel, rather than sequentially like in prominent blockchains like Bitcoin and Ethereum. Under Narwhal, instead
of a proposing validator broadcasting all transactions in a block to the other validators, the proposing validators send references to
transactions that other validators have already received in their local memory pools. These memory pools serve as logs of unprocessed
transactions awaiting verification and execution on a blockchain. The transaction data can thus bypass the full consensus process, removing
the large data transmission step which often impedes proof-of-stake consensus and introduces latency. Further unlike traditional blockchains,
which add transactions in a single, linear sequence, Bullshark uses a structure whereby each transaction points to multiple previous transactions,
allowing many transactions to be processed at the same time. The purpose of Narwhal and Bullshark is to increase scalability of a blockchain
allowing for parallel processing of transactions and increasing transaction speed.

The Sui Network was initially conceived
in 2021 by Evan Cheng, Adeniyi Abiodun, Sam Blackshear, George Danezis, and Kostas Chalkias to continue research initially performed while
the group was employed by Meta Platforms, Inc., in which they collaborated on a crypto asset project called Diem (formerly known as Libra).
Mysten Labs Inc. (Mysten), an independent consortium of blockchain software developers which contributes to the development of the Sui
Network, formed as an outgrowth of the Diem project. The Sui Foundation is an independent nonprofit entity that supports research and
development of open-source technology related to Sui.

Although Mysten and the Sui Foundation
continue to exert significant influence over the direction of the development of SUI, the Sui Network is distributed and does not require
governmental authorities or financial institution intermediaries to create, transmit or determine the value of SUI.

Unlike Bitcoin, which was solely created
through a progressive mining process, 10 billion SUI were created in connection with the launch of the Sui Network. Following the launch
of the Sui Network, no further SUI will be created unless a modification (or “fork”) of the Sui Network’s protocol occurs.
The Sui Network’s capped total supply of 10 billion SUI tokens is unlocked according to a distribution and unlock schedule designed
to balance liquidity, stability, and long-term growth. The Sui “mainnet” launched on May 3, 2023 with a portion of the total
supply made liquid at launch.

The SUI token serves four purposes
on the Sui Network. First, SUI can be staked within an “epoch” in order to participate in the proof-of-stake mechanism. Second,
SUI is the asset denomination needed for paying the Gas Fees to execute transactions or other operations on the Sui Network. Third, SUI
can be used as a versatile and liquid asset for various applications including the standard features of money – a unit of account,
a medium of exchange, or a store of value – and more complex functionality enabled by smart contracts, interoperability, and composability
across the Sui ecosystem. Fourth, and finally, SUI plays an important role in governance by acting as a right to participate in on-chain
voting on issues such as protocol upgrades.

The SUI token powers a variety of
real-world applications:

1.	Decentralized Finance: Lending and borrowing protocols allow users to supply SUI for interest or borrow
against collateral. Yield farming and staking rewards allow liquidity providers to earn yield by participating in automated market makers
and liquidity pools. Stablecoins and payments benefit from SUI’s fast and low-cost transactions, making it ideal for cross-border
transfers and remittances.

2.	Non-Fungible Tokens: NFT minting and trading allow artists and developers to create and trade NFTs on
SUI’s blockchain with low minting costs. On-chain gaming assets enable in-game items, skins, and collectibles to be represented
as NFTs, unlocking true ownership.

3.	Gaming and Metaverse: Play-to-earn gaming economies allow players to earn rewards in a decentralized manner.
Low-latency transactions enable smooth in-game purchases and seamless on-chain interactions.

4.	Supply Chain and Enterprise Solutions: Provenance and authentication solutions track goods transparently,
ensuring authenticity and reducing fraud. Enterprise blockchain integration supports identity management, record-keeping, and automation.

5.	Identity Verification and Security: Decentralized identity solutions verify credentials and prevent fraud.
Data privacy enhancements allow privacy-preserving transactions and selective disclosure mechanisms.

SUI has a fixed total supply of ten
billion tokens, meaning no additional SUI will be minted beyond this limit. At network launch, a portion of the total supply (roughly
5% of all tokens) was in circulation, while the remaining tokens are being released progressively over time. The structured emission schedule
is designed to support network security, incentivize validators and participants, and sustain the long-term growth of the Sui Network.

RISK
FACTORS

Carefully consider the risks described
below before making an investment decision. Refer to the other information included in this prospectus, as well as information found in
documents incorporated by reference in this prospectus, before deciding to purchase any Shares. These risk factors may be amended, supplemented
or superseded from time to time by risk factors contained in any periodic report, prospectus supplement, post-effective amendment or in
other reports filed with the SEC in the future.

Risks Related to Crypto Asset Markets

The Eligible Assets are relatively
new technological innovations with a limited operating history