White Paper Report


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

	Digital Token Identifier:	9DDKPFN21
	Offeror or person seeking admission to trading:	984500BBCE61B07M8E25 - DROP TABLE CAPITAL LTD
	Type of submission:	New

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




[Table 2] Template for 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	2026-02-03
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	$VERFI is a crypto-asset designed for use within the Inference Network, a decentralised protocol that enables the verification of computational inferences through cryptographic proofs. The primary purpose of $VERFI is to facilitate coordination, security, and governance within the network. Holders of $VERFI may exercise the following rights within the Inference Network: (a) Governance participation – Holders of $VERFI may stake their tokens to receive a non-transferable representation token that may be used to participate in protocol governance processes, including voting on proposals related to protocol parameters, upgrades, and governance structures, in accordance with the applicable governance phase; (b) Protocol participation – Depending on their chosen role, $VERFI holders may use their tokens to: operate infrastructure components within the network; delegate tokens to other participants who perform operational roles; or register and make available models for use within the network; (c) Fee-based utility – $VERFI may be used as a means of payment for services provided through the Inference Network. $VERFI is not intended to represent ownership, equity, or claims over the assets, revenues, or profits of any legal entity. The token is used as a functional unit within the protocol to enable participation, align incentives among network participants, and support the operation and integrity of the Inference Network. The maximum supply of $VERFI is fixed and capped at 1,000,000,000 tokens. No mechanism exists to increase this maximum supply.
09 Further information about utility tokens	textBlock	N/A
10 Key information about the offer to the public or admission to trading	textBlock	$VERFI is seeking admission to trading on the following platforms: Binance, Bitget, Bybit, Coinbase, Kraken, KuCoin and OKX. The publication of this White Paper aims to enhance transparency and facilitate broader access and liquidity for the VERFI token, within the regulatory framework established by Regulation (EU) 2023/1114 (MiCAR). There is no predetermined number of VERFI token to be admitted to trading.
Part A - Information about offeror or person seeking admission to trading
A.1 Name	text	DROP TABLE CAPITAL LTD
A.2 Legal form	text	BVI Business Company under the BVI Business Companies Act, 2004 \| 6EH6
A.3 Registered address
Registered addess	text	Craigmuir Chambers, Road Town, Tortola, VG 1110, British Virgin Islands
Country	enumeration	Virgin Islands (British)
Sub-division	text	VG 1110
A.4 Head office
Head office	text	Harneys Corporate Services Limited of Craigmuir
Country	enumeration	Virgin Islands (British)
Sub-division	text	Chambers, P.O. Box 71, Road Town, Tortola, VG 1110, British Virgin Islands.
A.5 Registration date	date	2024-05-09
A.6 Legal entity identifier	LEI	984500BBCE61B07M8E25
A.7 Another identifier required pursuant to applicable national law	text
A.8 Contact telephone number	text	1(345)328-1881
A.9 E-mail address	text	marc@horizonsglobal.io
A.10 Response time (days)	integer	7
A.11 Parent company	text	Drop Table Star
A.12 Members of the management body
Member #1	id	1
Identity	text	Marc Piano
Business address	text	43 Bimini Drive #87, George Town, Grand Cayman, Cayman Islands
Function	text	Director
A.13 Business activity	textBlock	The offeror is responsible for the issuance, administration and maintenance of the $VERFI token, the governance and utility token of the Inference Network. Its activities include coordinating token-generation processes, supporting exchange listings, and managing partnerships relevant to the distribution and accessibility of the token. The offeror oversees engagement with trading venues, centralized exchanges, and ecosystem partners for the purpose of enabling secondary market trading of the token where permitted. Additional activities include the technical administration of token-related smart contracts and the communication of token-related information to users, partners and service providers.
A.14 Parent company business activity	textBlock	The parent entity is a web3 foundation whose core activity is to support the development, maintenance and long-term sustainability of decentralized technologies within the Inference Network. Its activities include the stewardship of open-source software, the administration of protocol treasury resources, governance facilitation, and the coordination of ecosystem participants. The foundation does not conduct commercial trading activities; instead, it serves as a non-profit entity dedicated to fostering the continuous development, security and decentralization of the Inference Network and associated infrastructure.
A.15 Newly established	boolean	true
A.16 Financial condition for the past three years	textBlock	N/A
A.17 Financial condition since registration	textBlock	The offeror has been recently established and therefore does not have a three-year operating history. Since its registration, the financial condition of the offeror has been stable and aligned with the limited scope of its activities, which primarily concern token issuance, ecosystem coordination, and the technical administration of smart-contract infrastructure. The offeror has not engaged in lending, borrowing, or any form of external financing, nor has it issued debt instruments or entered into credit arrangements. Its operations to date have been funded exclusively through internal resources made available at the time of establishment. As of the latest reporting period, the offeror's available budget amounts to approximately USD $200,000 per month. These resources are allocated to operational expenses related to software development, security audits, regulatory and compliance needs, partnership coordination, and administrative functions necessary for the maintenance of the $VERFI token framework.
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	Inference Network
D.2 Crypto-asset name	text	VERFI
D.3 Abbreviation	text	VERFI
D.4 Crypto-asset project description	textBlock	The crypto-asset project relates to the development and operation of the Inference Network, a decentralized protocol designed to enable the verification of computational inferences through cryptographic mechanisms. The project aims to support the reliable use of autonomous and algorithmic systems by allowing participants to verify that computational outputs have been produced correctly and in accordance with predefined rules. The Inference Network brings together different categories of participants who perform distinct functions within the protocol. These participants include infrastructure operators who execute computational tasks, validators who review and challenge outputs, contributors who make models available for use within the network, and users who request verified inference services. The protocol is designed to operate without reliance on a central operator once fully deployed. The crypto-asset $VERFI is used within the project as a functional component to coordinate participation, secure network activity, and support governance processes. It is used to enable staking, delegation, fee payments, and participation in protocol decision-making. The token also supports incentive mechanisms intended to encourage compliant behavior and long-term participation by network contributors. The project follows a progressive approach to decentralization. In its initial phase, certain governance and operational parameters are overseen by a designated governance body to support stability and security. Over time, governance is intended to transition to a decentralized model in which decisions are made through protocol-defined voting mechanisms involving tokenholders. The crypto-asset project does not involve the issuance of financial instruments, confer ownership rights in any entity, or provide guarantees of value or return. The development and operation of the project are subject to technical, economic, and regulatory risks, which are described in other sections of this white paper.
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	Inference Labs Inc.
Business address of person	text	270 Sherman Ave. N. Hamilon, ON, L8L 6N4 Canada
Domicile of company	enumeration	Canada
D.6 Utility token classification	boolean	false
D.7 Key features of goods or services for utility token projects	text	N/A
D.8 Plans for the token
Description of past milestones	textBlock	The $VERFI crypto-asset is intended to support the phased development, operation, and governance of the Inference Network. The plans for the token are aligned with the technical rollout of the protocol and the gradual transition from initial governance arrangements to a decentralized governance framework. Past milestones Prior to the preparation of this white paper, the crypto-asset project has completed the following high-level milestones: - Conceptual design of the Inference Network, including definition of participant roles and incentive mechanisms. - Development of the core protocol architecture supporting inference verification, staking, delegation, and challenge mechanisms. - Design of the $VERFI tokenomics framework, including fixed maximum supply, staking functionality, governance participation. - Establishment of an initial governance structure to oversee protocol security, parameter setting, and early-stage decision making.
Description of future milestones	textBlock	Subject to technical readiness, governance decisions, and market conditions, the following milestones are planned for the continued development of the crypto-asset project and the role of $VERFI within it: - Protocol deployment and scaling: Progressive deployment of the Inference Network's core smart contracts and supporting infrastructure, with ongoing optimization for performance, security, and reliability. - Activation of token utilities: Gradual activation of $VERFI use cases, including staking, delegation and governance participation, in line with protocol maturity. - Governance transition: Progressive transfer of governance responsibilities from an initial governance body to decentralized governance mechanisms involving eligible tokenholders, subject to predefined conditions and safeguards. - Ecosystem development: Expansion of network participation, including additional infrastructure operators, model contributors, and service consumers, supported by incentive and partnership programs. - Protocol upgrades: Ongoing upgrades to protocol functionality and security, implemented through governance-approved processes.
D.9 Resource allocation	text	Resources allocated to the project to date consist primarily of technical development, security auditing, regulatory preparation and partnership coordination. The offeror has an available budget of approximately USD $200,000 per month, reserved for ongoing development, operational expenses, and the implementation of the token and its associated utilities. No external financing or loans have been utilized.
D.10 Planned use of collected funds or other tokens	text	Not applicable, as this White Paper was not drawn up for collecting funds for the crypto-asset-project.
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	DROP TABLE CAPITAL LTD. has prepared this White Paper in accordance with the disclosure requirements established under Regulation (EU) 2023/1114 (MiCAR) to provide transparent information regarding the VERFI token. The purpose of this publication is to ensure continued compliance during the transitional period, fostering regulatory clarity, market integrity, and investor confidence as the Inference Network expands within the European Union and European Economic Area. Through this process, DROP TABLE CAPITAL LTD. aims to maintain MiCAR-aligned transparency and establish a clear regulatory foundation for VERFI trading activities, while supporting the long-term goals of the Inference Network to promote sustainable ecosystem growth, decentralized governance, and responsible participation in the crypto-asset markets.
E.3 Fundraising target
Target expressed in currency	monetary		EUR
Target expressed in units	decimal
Target expressed in digital token identifier	text
E.4 Minimum subscription goals
Goals expressed in currency	monetary		EUR
Goals expressed in units	decimal
Goals expressed in digital token identifier	text
E.5 Maximum subscription goals
Goasl expressed in currency	monetary		EUR
Goals expressed in units	decimal
Goals expressed in digital token identifier	text
E.6 Oversubscription acceptance	boolean
E.7 Oversubscription allocation	text
Issue price details
E.8 Issue price	decimal
E.9 Official currency determining issue price	enumeration	US Dollar
E.9 Any other tokens determining issue price	text	USD
E.10 Subscription fee
Fee expressed in currency	monetary		EUR
Fee expressed in units	decimal
Fee expressed in digital token identifier	text	N/A
E.11 Offer price determination method	text	N/A
E.12 Total number of offered or traded other tokens	integer
E.13 Targeted holders	enumeration	All types of investors
E.14 Holder restrictions	text	N/A
E.15 Reimbursement notice	boolean true
E.16 Refund mechanism	textBlock	N/A
E.17 Refund timeline	text	N/A
E.18 Offer phases	textBlock	N/A
E.19 Early purchase discount	textBlock	N/A
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	N/A
E.24 Payment methods for other token purchase	textBlock	N/A
E.25 Value transfer methods for reimbursement	textBlock	N/A
E.26 Right of withdrawal	textBlock	N/A
E.27 Transfer of purchased other tokens	textBlock	N/A
E.28 Transfer time schedule	text	N/A
E.29 Purchaser's technical requirements	textBlock	The technical requirements that a purchaser must meet to hold the acquired crypto-assets depend on the specific features and capabilities of the platform through which the crypto-asset is made available. These may vary depending on the custody model, wallet compatibility, and user access protocols implemented by the respective crypto-asset service provider. In any case, it is advisable for prospective users of the $VERFI token to be acquainted with the functioning of non-custodial wallets, such as Metamask. Familiarity with such tools facilitates the secure holding, transfer, and use of tokens, as well as the exercise of rights attached to them within the ecosystem.
Other token services provider characteristics
E.30 Other token service provider (CASP) name	text	N/A
E.31 CASP identifier	LEI
E.32 Placement form	enumeration	Not applicable
Trading platforms characteristics
E.33 Trading platforms name	text	Binance, Bitget, Bybit, Coinbase, Kraken, KuCoin and OKX.
E.34 Trading platforms market identifier code (MIC)	text	N/A
E.35 Trading platforms access	text	Purchasers will be able to access secondary market trading of the VERFI token through the above trading platforms. Access to these platforms is subject to the provider's registration process, know-your-customer (KYC)/know-your-business (KYB) and anti-money laundering (AML) requirements, and any geographical or regulatory restrictions that may apply.
E.36 Involved costs	textBlock	Purchasers who choose to acquire or trade the VERFI through secondary market platforms should be aware that such activity may involve costs determined by the platform operators. These typically include trading commissions, withdrawal fees, and other service charges, which vary depending on the platform. Purchasers are advised to consult the applicable fee schedules of the relevant platforms before engaging in trading activities.
E.37 Offer expenses	textBlock	N/A
E.38 Conflicts of interest	textBlock	No potential conflicts of interest have been identified as of today in relation to the admission to trading of VERFI tokens. MiCAR-compliant Crypto-Asset Service Providers are required to implement robust measures to identify, manage, and mitigate conflicts of interest. Potential holders are strongly encouraged to review the conflicts of interest policy of their respective service providers before engaging in any transaction.
E.39 Applicable law	textBlock	British Virgin Islands.
E.40 Competent court	textBlock	Any dispute, controversy, or claim shall be finally settled by arbitration under the British Virgin Islands IAC Arbitration Rules. The tribunal shall consist of three arbitrators, appointed in accordance with those Rules, which are hereby incorporated by reference into this clause. The seat of arbitration shall be the British Virgin Islands, and the language of the proceedings shall be English. In the alternative, and only where arbitration is not applicable or enforceable, the competent courts of the British Virgin Islands shall have exclusive jurisdiction to resolve any such dispute.
Part F - Information about other tokens
F.1 Crypto-asset type	text	VERFI is a crypto-asset other than an asset-referenced token (ART) and an electronic money token (EMT). It is a digital representation of value that can be stored and transferred using distributed ledger technology (DLT) or similar technology, without embodying or conferring any rights to its holder. The asset does not aim to maintain a stable value by referencing an official currency, a basket of assets, or any other underlying rights. The value of the crypto-asset is entirely determined by market forces – specifically, the dynamics of supply and demand – and is not supported by any stabilization mechanism. It is neither pegged to a fiat currency nor backed by external assets, which differentiates it from EMTs and ARTs. Moreover, the crypto-asset does not qualify as a financial instrument, deposit, insurance policy, pension product, or any other regulated financial product under EU law. It does not confer any financial entitlements contractual claims on its holders, thereby placing it outside the regulatory scope governing traditional financial instruments.
F.2 Other token functionality	textBlock	$VERFI is a fungible crypto-asset issued as an ERC-20 token on the Ethereum network. It operates as a governance and utility token within the Inference Network. Holders may use $VERFI to participate in governance processes, obtain fee reductions, access certain advanced protocol features, and benefit from incentives available through designated smart contracts. $VERFI does not represent shares, equity, debt, ownership interests, or a right to receive profits or redemption at a guaranteed value. It is intended solely for protocol-related functions and does not create any contractual claim against the issuer or any affiliated entity. VERFI tokens are freely transferable ERC-20 assets on the Ethereum blockchain, providing holders with flexibility to delegate governance rights or engage in ecosystem activities.
F.3 Planned application of functionalities	textBlock	The described functionalities of the VERFI token will become active and operational upon the token launch.
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	New
F.6 Other token characteristics	textBlock	The $VERFI token is a fungible ERC-20 crypto-asset issued on the Ethereum network. It functions as a governance and utility token within the Inference Network, enabling participation in protocol governance processes, access to certain utilities, eligibility for fee reductions. The token has a fixed total supply and does not confer rights to profits, redemption at a guaranteed value, or ownership in any legal entity. All functionalities associated with $VERFI are implemented through open-source smart contracts, and its use is limited to interactions within the Inference Network and its associated infrastructure.
F.7 Commercial name or trading name	text	VERFI
F.8 Website of the issuer	text	https://inferencelabs.com/
F.9 Starting date of offer to the public or admission to trading	date	2026-03-04
F.10 Publication date	date	2026-03-04
F.11 Any other services provided by the issuer	textBlock	N/A
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	9DDKPFN21
F.14 Functionally fungible group digital token identifier, where available	text	N/A
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	Italy
F.19 Host member states #16	enumerationSet	Latvia
F.19 Host member states #17	enumerationSet	Liechtenstein
F.19 Host member states #18	enumerationSet	Lithuania
F.19 Host member states #19	enumerationSet	Luxembourg
F.19 Host member states #20	enumerationSet	Malta
F.19 Host member states #21	enumerationSet	Netherlands
F.19 Host member states #22	enumerationSet	Norway
F.19 Host member states #23	enumerationSet	Poland
F.19 Host member states #24	enumerationSet	Portugal
F.19 Host member states #25	enumerationSet	Romania
F.19 Host member states #26	enumerationSet	Slovakia
F.19 Host member states #27	enumerationSet	Slovenia
F.19 Host member states #28	enumerationSet	Spain
F.19 Host member states #29	enumerationSet	Sweden
Part G - Information on rights and obligations attached to other tokens
G.1 Purchaser rights and obligations	textBlock	Purchasers of VERFI acquire a fungible governance token that grants the ability to participate in the decentralized governance of the Inference Network. VERFI holders may vote on proposals and influence key protocol parameters governing the Inference Network. VERFI holders retain full control and ownership of their tokens, which are freely transferable on the Ethereum network in accordance with the ERC-20 token standard. Ownership of VERFI does not confer any rights of equity, profit-sharing, debt, or repayment in DROP TABLE CAPITAL LTD. nor in any affiliated entity.
G.2 Exercise of rights and obligations	textBlock	All rights associated with VERFI are exercised on-chain and through specific voting mechanisms.
G.3 Conditions for modifications of rights and obligations	textBlock	Any modification to the rights or obligations associated with VERFI may occur through the Inference Network governance process. Changes must be proposed, reviewed, and approved by VERFI token holders through a transparent vote conducted via the approved governance framework.
G.4 Future public offers	textBlock	N/A
G.5 Issuer retained other token	integer	502667884
G.6 Utility token classification	boolean	false
G.7 Key features of goods or services utility tokens	text	N/A
G.8 Utility tokens redemption	text	N/A
G.9 Non-trading request	boolean	true
G.10 Other tokens purchase or sale modalities	text	N/A
G.11 Other tokens transfer restrictions	text	N/A
G.12 Supply adjustment protocols	boolean	false
G.13 Supply adjustment mechanisms	text	N/A
Other token schemes details
G.14 Token value protection schemes	boolean	false
G.15 Token value protection schemes description	textBlock	N/A
G.16 Compensation schemes	boolean	false
G.17 Compensation schemes description	textBlock	N/A
G.18 Applicable law	textBlock	British Virgin Islands
G.19 Competent court	textBlock	Any dispute, controversy, or claim shall be finally settled by arbitration under the British Virgin Islands IAC Arbitration Rules. The tribunal shall consist of three arbitrators, appointed in accordance with those Rules, which are hereby incorporated by reference into this clause. The seat of arbitration shall be the British Virgin Islands, and the language of the proceedings shall be English. In the alternative, and only where arbitration is not applicable or enforceable, the competent courts of the British Virgin Islands shall have exclusive jurisdiction to resolve any such dispute.
Part H – Information on underlying technology
H.1 Distributed ledger technology (DTL)	text	The crypto-asset project is built on Ethereum, a public, permissionless distributed ledger that enables the execution of smart contracts and the recording of transactions in a decentralised and verifiable manner. The Ethereum blockchain is used to issue, transfer, and manage the $VERFI crypto-asset and to operate core protocol functions, including staking, delegation, governance participation and enforcement of protocol rules. Transactions and state changes are recorded on Ethereum and can be independently verified by any participant using standard blockchain tools. The use of Ethereum allows the protocol to operate without reliance on a central authority for transaction validation, while providing transparency, auditability, and resistance to unilateral modification of transaction records. Smart contracts deployed on Ethereum automate protocol logic and execute predefined rules once triggered, without discretionary intervention. These contracts define the conditions under which tokens may be transferred, staked, delegated, or subject to protocol-defined penalties.
H.2 Protocols and technical standards	text	The $VERFI token conforms to the ERC-20 token standard, ensuring interoperability across wallets, decentralised applications, and exchanges that support the Ethereum ecosystem. Associated functionalities, such as staking and governance voting are implemented through additional smart contracts that interact with the ERC-20 contract. The Inference Network protocol itself operates through smart-contract architectures on Ethereum and is compatible with common EVM-based tooling and infrastructure.
H.3 Technology used	textBlock	The technology underpinning the project combines blockchain-based coordination with off-chain artificial intelligence computation. Ethereum smart contracts are used to provide a programmable trust layer for economic settlement, governance processes, and enforcement of protocol rules. Resource-intensive activities, such as inference execution and proof generation, are performed off-chain and subsequently linked to Ethereum through cryptographic verification mechanisms. The project is designed around a modular system architecture. Rather than relying on a single, monolithic AI system, the network supports the participation of multiple independent components, including infrastructure operators, model providers, and verification participants. This modular approach is intended to reduce concentration of control and allow a broad range of participants to contribute to and interact with the system. The technology is designed to support interoperability between decentralized systems and autonomous software agents. By using distributed ledger technology as a neutral coordination and settlement layer, the protocol enables automated agents and human users to interact under predefined rules, with transparent verification of outcomes and value transfers. The system leverages Web3 infrastructure to embed value transfer, verification, and governance directly at the protocol level. Ethereum smart contracts are used to enable programmatic trust, auditable execution of rules, and transparent participation without reliance on centralized intermediaries. The technology stack may evolve over time to reflect advances in blockchain standards, cryptographic techniques, artificial intelligence tooling, or security practices. Any material changes to the technology used by the project are expected to be implemented through defined upgrade or governance processes and may affect how the crypto-asset functions within the protocol. Additional information may be found in the official documentation of the project: https://docs.inferencelabs.com/
H.4 Consensus mechanism	text	$VERFI token is issued and relies on the Ethereum blockchain for consensus. Ethereum uses a proof-of-stake (PoS) consensus mechanism in which validators propose and confirm blocks. Base inherits its security guarantees from Ethereum through optimistic rollup technology, whereby state changes on Base are periodically committed to Ethereum and can be challenged during a defined fraud-proof window. As a result, the consensus mechanism securing $VERFI is the Ethereum proof-of-stake system, rather than a separate consensus process. This system was introduced in 2022, replacing the previous Proof-of-Work model to enhance security, energy efficiency, and scalability. Under Proof-of-Stake, network integrity is maintained by validators rather than miners. Validators are participants who stake 32 ETH as collateral within a smart contract to become eligible to verify transactions and propose new blocks. In each 12-second slot, one validator is randomly selected to propose a block, while a committee of other validators attests to its validity. Ethereum organizes time into epochs, each consisting of 32 slots. Once a sufficient majority of validators have attested to consecutive checkpoints within these epochs, a block is considered finalized, meaning it cannot be reversed without significant economic penalty. This consensus design achieves Byzantine fault tolerance, ensuring that the network reaches agreement on a single valid state even in the presence of faulty or malicious actors. Additionally, Proof-of-Stake significantly reduces Ethereum's energy consumption compared to mining-based systems and enables more efficient scaling solutions.
H.5 Incentive mechanisms and applicable fees	text	Ethereum's Proof-of-Stake (PoS) consensus mechanism secures the network through a carefully balanced system of economic incentives and penalties designed to promote honest participation and deter malicious activity. Validator Rewards Validators are responsible for proposing new blocks and attesting to the validity of blocks proposed by others. In return for performing these duties correctly and consistently, validators earn rewards denominated in ETH, which are automatically added to their staked balance. • Block Proposal Rewards: Granted to validators selected to create new blocks. • Attestation Rewards: Distributed to validators who confirm that proposed blocks are valid. • Sync Committee Rewards: Periodic incentives for participating in specialized committees that help propagate finalized states across the network. • Inclusion and Participation Bonuses: Additional rewards are given to validators who participate promptly, maintaining high uptime and responsiveness. These rewards encourage validators to remain active, properly configured, and connected, thereby ensuring the liveness and stability of the network. Penalties and Slashing To maintain integrity, Ethereum enforces penalties for non-performance or dishonest behavior: • Inactivity Penalties: Validators who fail to perform their duties, for instance due to downtime or misconfiguration, lose a small portion of their stake over time. • Slashing: Validators who act maliciously—such as by proposing conflicting blocks or submitting contradictory attestations—can be slashed, meaning part of their staked ETH is destroyed, and the validator is forcibly removed from the network. The severity of slashing depends on the correlation of infractions: isolated errors incur minor penalties, while coordinated or mass misconduct can lead to the loss of up to 100% of the validator's stake. Finality and Economic Security Ethereum's PoS finality mechanism ensures that once two-thirds of the total staked ETH agrees on a checkpoint, it becomes finalized and irreversible without severe financial loss. To revert a finalized block, an attacker would have to destroy at least one-third of all staked ETH – making attacks economically irrational and self-destructive. Incentive Alignment This mechanism creates a self-reinforcing equilibrium: • Honest validators are financially rewarded for securing the network. • Dishonest actors are economically penalized for undermining it. • The high capital requirement for validation (32 ETH) ensures that participants have substantial economic exposure to the network's long-term success.
H.6 Use of distributed ledger technology	boolean	false
H.7 DLT functionality description	textBlock	N/A
Other token audit details
H.8 Audit	boolean	true
H.9 Audit outcome	textBlock	The audit was completed successfully, and no critical vulnerabilities were identified. Based on the defined scope and review methodology, the system is considered secure. Audit reports for the production smart contracts are available here: https://github.com/inference-labs-inc/subnet-2-contracts/tree/latest/audits AS DEVELOPMENT OF THE INFERENCE NETWORK CONTINUES, AUDIT COVERAGE WILL BE EXPANDED TO INCLUDE ADDITIONAL REPOSITORIES AND FUNCTIONALITY.
Part I - Information on risks
I.1 Offer-related risks	textBlock	Regulatory Risk. Although this White Paper has been prepared with diligence and in accordance with applicable Regulations, future changes in EU or national regulations may affect the legal classification, tradability, or compliance status of VERFI. Market Risk. VERFI can be subject to significant price fluctuations based on supply-demand dynamics, market sentiment, and external macroeconomic factors. These may result in financial losses for token holders. Liquidity Risk. While admission to trading increases accessibility, liquidity is not guaranteed. Low trading volumes may result in high slippage or the inability to exit positions efficiently. Counterparty Risk. The exchanges or trading platforms where VERFI tokens are listed may become insolvent or cease operations, potentially resulting in a loss of access to funds or VERFI. Integration with third-party trading platforms involves dependencies on their internal policies and stability. Delisting, insolvency, or technical failures at such platforms could adversely impact tradability. Issuer Non-Involvement in Trading. When VERFI is traded on exchanges, the issuer does not act as a contractual party to these transactions. All legal relationships regarding these trading platforms are subject to their respective terms and conditions, with no responsibility assumed by the issuer for their operations and services.
I.2 Issuer-related risks	textBlock	Financial Sustainability Risk. Although the issuer operates under a sustainable economic framework, it may nevertheless face financial distress due to unforeseen circumstances, such as failure to achieve adoption targets, loss of key personnel, or adverse regulatory developments. Operational Dependency Risk. The issuer relies on various infrastructure providers – including cloud services, validators, and custodial partners – to support its operations. Any interruption, failure, or termination of these relationships could adversely affect the functioning of the protocol or associated services. Reputational Risk. Negative publicity stemming from operational incidents, security breaches, or perceived associations with illicit activities could harm the issuer's public image, potentially reducing confidence in and demand for VERFI tokens. Internal Operations Risk. Weaknesses in the issuer's internal processes, human resources, or technology systems could impair the effective management of token operations. Failures in operational integrity may result in service disruptions, financial losses, or reputational harm. Legal and Regulatory Risk. Evolving legal frameworks, regulatory changes, or adverse legal proceedings may create uncertainty around the legality, usability, or valuation of VERFI tokens, potentially restricting their circulation or acceptance. Competitive Market Risk. The Inference Network operates in a highly dynamic and competitive market. Emerging innovative or better-capitalized competitors may offer alternative solutions that diminish user adoption or the market position of the Inference Network.
I.3 Other tokens-related risks	textBlock	Nature of the VERFI Token. The VERFI token has no intrinsic value and does not grant holders any rights to dividends, profits, or corporate-style governance. Its valuation is entirely market-driven and depends on network utility, user adoption, and market perception. Volatility Risk. As with most crypto-assets, VERFI is subject to substantial short- and long-term price fluctuations. Market sentiment, liquidity shifts, and macroeconomic trends can all cause significant volatility, potentially resulting in financial losses for holders. Liquidity Risk. Market depth and trading activity for VERFI may vary over time. Limited order book participation could lead to price slippage or difficulty executing trades efficiently, particularly during periods of market stress. Technological Obsolescence Risk. The blockchain and crypto-asset sectors evolve rapidly. Innovations or competing protocols could surpass or replace the Inference Network's functionality, reducing VERFI's utility, adoption, or relevance. Speculative Nature Risk. The value of VERFI is highly speculative and depends on market demand, protocol adoption, validator participation, and community engagement. There are no guarantees of future value, performance, or rewards associated with the token. Blockchain Dependency Risk. VERFI operates on public blockchains such as Ethereum. Changes to their infrastructure, governance, consensus mechanisms, or transaction fees could affect VERFI's usability, transferability, and cost efficiency. Malicious Model Embedding Risk. Sophisticated adversaries developing AI models for deployment on VERFY could embed covert adversarial triggers within their inference logic. These hidden mechanisms might induce unintended or harmful outputs (e.g., biased decisions, data manipulation, or malicious actions) under specific conditions. Since zk-proofs obscure the inner workings of inferences, such exploits could evade traditional detection methods and be cryptographically validated as "legitimate," thereby bypassing security safeguards. Security Risks. a) Smart Contract Vulnerabilities: Despite comprehensive audits, unforeseen bugs or vulnerabilities could compromise smart contract functionality, impacting token security, staking, or governance. b) Private Key Management: Token holders are solely responsible for safeguarding their wallets and private keys. Loss or compromise of credentials will irreversibly result in the loss of tokens. c) Cryptographic Proof System Maturity Risk: The zk-proof systems underpinning VERFY are built on experimental or emerging cryptographic constructs. These systems may lack rigorous formal verification, long-term empirical validation, or standardized security guarantees, creating the potential for latent vulnerabilities in soundness (the inability to prove false statements) or correctness (failure to validate true statements). Such flaws could be exploited post-deployment, compromising the integrity of verified AI inferences and undermining trust in the network's foundational mechanisms. Fraud and Scam Risks. Holders face exposure to scams, phishing, impersonation, counterfeit tokens, and fake airdrops. Interacting with unverified platforms or unofficial channels significantly increases the risk of fraud or asset loss. Cybercrime and Theft Risks. Blockchain assets may be targeted by cyberattacks, including hacking, malware, or phishing. Breaches affecting wallets, exchanges, or smart contracts could lead to theft, loss of assets, or service disruption. Data Integrity Risk. Software bugs, human error, or malicious tampering could corrupt blockchain data, impacting transaction records, network reliability, and user confidence. Wallet and Storage Risk. Access to VERFI requires compatible wallets. Incompatibility, network errors, or the shutdown of wallet providers may restrict users' ability to access, store, or transfer tokens. Regulatory and Compliance Risks. a) Evolving Legal Frameworks: Regulatory regimes governing digital assets are changing rapidly, potentially impacting VERFI's classification, availability, or functionality. b) Jurisdictional Restrictions: Certain jurisdictions may limit or prohibit VERFI trading or use, restricting accessibility for some users. c) Enforcement Actions: Regulators could take action if VERFI were reclassified as an unregistered security or other regulated financial instrument. d) AML & CTF Risks: Transactions involving crypto-assets may be scrutinized for compliance with anti–money laundering and counter–terrorism financing laws, potentially affecting users' ability to trade or transfer VERFI.
I.4 Project implementation-related risks	textBlock	Implementation and Execution Risks. Delays or failures in achieving key project milestones, deploying updates, or implementing technological upgrades may negatively affect the perception, functionality, and market value of the VERFI token. Furthermore, intense market competition from other protocols offering similar or superior solutions could limit user adoption and hinder the Inference Network's overall success. Resource Constraint Risk. The successful development of the Inference Network depends on the availability of adequate financial and human resources. Budget limitations, difficulties in attracting or retaining qualified technical personnel, or reliance on external or volunteer contributors could impede progress and delay protocol improvements. Interoperability and Technical Failure Risk. The Inference Network operates across multiple blockchain networks. Interoperability challenges, software bugs, or technical failures affecting one or more of these networks could disrupt transaction execution, cross-chain functionality, or other core operations, potentially undermining user confidence and protocol reliability. Competitive Risk. The Inference Network operates in a rapidly evolving market. The emergence of more advanced, better-capitalized, or innovative competitors could reduce network adoption and negatively impact VERFI's market position and value.
I.5 Technology-related risks	textBlock	Blockchain Infrastructure Risk. The VERFI token operates on public blockchain networks. Any downtime, congestion, network reorganization, or protocol-level vulnerability affecting these blockchains could impair transaction processing, accessibility, or reliability of the token and related protocol functions. Smart Contract Vulnerability Risk. Although the Inference Network smart contracts have undergone extensive security audits, there remains a possibility of undetected bugs or exploitation through novel attack vectors. Such vulnerabilities could compromise token integrity, staking mechanisms, or governance processes. Fault-Tolerance and Incentive Mechanism Risk. VERFI's operational model relies partly on user participation and incentive structures. Misconfigurations, design flaws, or unexpected failures in these mechanisms could lead to inconsistent performance or temporary instability in protocol operations. Private Key Management Risk. Token holders are solely responsible for the secure management of their private keys and recovery credentials. Loss, theft, or compromise of wallet access will irreversibly result in the loss of VERFI tokens, as blockchain transactions cannot be reversed. External Infrastructure Dependency Risk. The protocol depends on third-party infrastructure providers, including RPC services, decentralized storage solutions, and agent orchestration frameworks. Downtime, cyberattacks, or incompatibility issues within these components could impact data availability, performance, or verification processes across the network. Technological and Coordination Failure Risk. Participants should be aware that technological malfunctions, software errors, or coordination breakdowns among validators, developers, or governance participants could impair the availability, security, or functionality of both the VERFI token and the Inference Network. Maintenance and Upgrade Risk. Ongoing network maintenance, software updates, or protocol upgrades introduce a residual risk of unexpected bugs or compatibility issues. Additionally, the governance structure, while also intended to ensure stability and due diligence, may occasionally delay critical updates due to its consensus-based decision-making process.
I.6 Mitigation measures	textBlock	Governance and Oversight. a) A dedicated team of experts evaluates risk exposures, asset allocations, and protocol parameters to ensure prudent management. b) Transparent Governance: All major protocol and token-related decisions are made through community governance, supported by public documentation and auditable voting records. c) Entity Stewardship: Entities surrounding the Inference Network provide strategic guidance and ensures the project's adherence to sustainability and compliance standards. Technical Security. a) Independent Smart Contract Audits: All smart contracts are subjected to multiple third-party security audits prior to deployment and after major upgrades. b) Bug Bounty Programs: Continuous bounty initiatives incentivize community reporting of vulnerabilities. Operational Resilience. a) Infrastructure Diversification: Multiple RPC providers, storage networks, and validator partners are employed to reduce reliance on any single provider. b) Incident Response Procedures: A structured monitoring and response framework enables rapid detection, containment, and resolution of potential security or operational incidents. c) Periodic Stress Testing: Protocol systems undergo regular performance and load testing to evaluate resilience under adverse conditions. Regulatory and Compliance Measures. a) Regulatory Monitoring: The issuer and foundation actively monitor evolving EU and international regulations, including MiCAR developments, to ensure continuous compliance. b) Legal Reviews: Ongoing external legal assessments help ensure that token operations remain consistent with applicable laws and regulatory classifications. Market and Financial Controls. a) Treasury Management Policies: Treasury operations follow internal governance controls to ensure transparent use of funds and responsible liquidity management. b) Diversification of Assets: The treasury maintains a balanced composition of VERFI and stablecoins to maintain liquidity. Community and Transparency. a) Clear Documentation: documentation and informative materials are publicly accessible, enabling independent review. b) Continuous Communication: Regular updates through governance forums, community calls, and transparency reports ensure ongoing stakeholder engagement.
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	ADVERSE IMPACTS ON CLIMATE AND OTHER ENVIRONMENT-RELATED ADVERSE IMPACTS
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	DROP TABLE CAPITAL LTD.
S.2 Relevant legal entity identifier	text	984500BBCE61B07M8E2
S.3 Name of the crypto-asset	text	VERFI
S.4 Consensus mechanism	text	The Ethereum blockchain operates under a Proof-of-Stake (PoS) consensus mechanism. This system was introduced in 2022, replacing the previous Proof-of-Work model to enhance security, energy efficiency, and scalability. Under Proof-of-Stake, network integrity is maintained by validators rather than miners. Validators are participants who stake 32 ETH as collateral within a smart contract to become eligible to verify transactions and propose new blocks. In each 12-second slot, one validator is randomly selected to propose a block, while a committee of other validators attests to its validity. Ethereum organizes time into epochs, each consisting of 32 slots. Once a sufficient majority of validators have attested to consecutive checkpoints within these epochs, a block is considered finalized, meaning it cannot be reversed without significant economic penalty.
S.5 Incentive mechanisms and applicable fees	text	Ethereum's Proof-of-Stake (PoS) consensus mechanism secures the network through a carefully balanced system of economic incentives and penalties designed to promote honest participation and deter malicious activity. Validator Rewards Validators are responsible for proposing new blocks and attesting to the validity of blocks proposed by others. In return for performing these duties correctly and consistently, validators earn rewards denominated in ETH, which are automatically added to their staked balance. • Block Proposal Rewards: Granted to validators selected to create new blocks. • Attestation Rewards: Distributed to validators who confirm that proposed blocks are valid. • Sync Committee Rewards: Periodic incentives for participating in specialized committees that help propagate finalized states across the network. • Inclusion and Participation Bonuses: Additional rewards are given to validators who participate promptly, maintaining high uptime and responsiveness. These rewards encourage validators to remain active, properly configured, and connected, thereby ensuring the liveness and stability of the network.
S.6 Beginning of period to which disclosed information relates	date	2024-12-11
S.7 End of period to which disclosed information relates	date	2025-12-10
Mandatory key indicator
S.8 Energy consumption	energy (kWh)	2,601,000 kWh/a
Sources and methodologies
S.9 Energy consumption sources and methodologies	textBlock	For estimating energy consumption, a "bottom-up" methodology is applied. This approach identifies network nodes as the primary source of overall energy usage. The underlying assumptions are derived from empirical data, collected through publicly available information. The estimation of hardware employed within the network is based on the technical specifications required to operate the client software. The values change over time as nodes enter and leave the network.
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	17,00%
S.11 Energy intensity	energy (kWh)	0,00011
S.12 Scope 1 DLT GHG emissions - controlled	GHG emissions (tCO2e)	0
S.13 Scope 2 DLT GHG emissions - purchased	GHG emissions (tCO2e)	870
S.14 GHG intensity	GHG emissions (tCO2e)	0,00004
Sources and methodologies
S.15 Key energy sources and methodologies	textBlock	The sustainability indicators and environmental performance metrics referenced in this document are sourced from the official Ethereum Foundation website, available at: https://ethereum.org/energy-consumption/.
S.16 Key GHG sources and methodologies	textBlock	The sustainability indicators and environmental performance metrics referenced in this document are sourced from the official Ethereum Foundation website, available at: https://ethereum.org/energy-consumption/.
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	0%
S.18 Energy use reduction
Energy use reduction target (absolute value)	energy (kWh)	0
Energy use reduction target (percentage)	percent	0%
S.19 Carbon intensity (kgCO2e/kWh)	decimal	0
S.20 Scope 3 DLT GHG emissions - value chain	GHG emissions (tCO2e)	0
S.21 GHG emissions reduction targets or commitments	textBlock	0
S.22 Generation of waste electrical and electronic equipment (WEEE)	mass (tonnes)	0
S.23 Non-recycled WEEE ratio	percent	0%
S.24 Generation of hazardous waste	mass (tonnes)	0
S.25 Generation of waste (all types)	mass (tonnes)	0
S.26 Non-recycled waste ratio (all types)	percent	0%
S.27 Waste intensity (all types)	mass (tonnes)	0
S.28 Waste reduction targets or commitments (all types)	textBlock	N/A
S.29 Impact of use of equipment on natural resources	textBlock	N/A
S.30 Natural resources use reduction targets or commitments	textBlock	0
S.31 Water use	volume (m3)	0
S.32 Non recycled water ratio	percent	0%
Sources and methodologies
S.33 Other energy sources and methodologies	textBlock	N/A
S.34 Other GHG sources and methodologies	textBlock	N/A
S.35 Waste sources and methodologies	textBlock	N/A
S.36 Natural resources sources and methodologies	textBlock	N/A