MiCA Compliance
White Paper
SOL Space published a comprehensive White
Paper detailing the project's technology, team, and associated risks.
This includes: Project Description, Technology, Team and Risks.
Consumer Protection Policies
We are committed to protecting our users. Our consumer protection policies include:
Complaint Handling: For any complaints you can email us directly at complaints@solspace.rent and your case will be handled by a
real human being, not an AI bot.
User Rights: Detailed user rights and protections, especially in cases of service disruptions or data
loss can be read in our Terms of Use.
Liability: Our Terms of Use outline our liability
and responsibilities in maintaining data integrity and
security.
Market Abuse Prevention
To ensure market integrity, we have implemented strict measures against market abuse:
Insider Trading and Market Manipulation:
Our policy is against insider trading and market manipulation and we are developing systems to inform and
enforce our policy both internally and externally (publicly). To the extent that we can detect and learn
about such cases, we will report any such event to the right authorities.
Information Disclosure:
Only through the following channels we regularly disclose specific lawful inside information, news and events,
ensuring transparency
and
fairness:
• Our website (www.solspace.rent);
• Substack platform (www.solspace.substack.com)
• Emails from our domain @solspace.rent;
• Public Telegram group: https://t.me/sol_space
• X (formerly Twitter): https://x.com/SOLRE_protocol
Risks
Investment Risks: Investing in SOL Space token (SOLRE) involves significant risk, including the potential
loss of your
entire
investment. The value of SOLRE tokens can fluctuate due to market conditions and other factors beyond our
control.
Operational Risks: Operational risks include potential technical failures, cybersecurity breaches, and
reliance on
third-party technology providers. While we strive to ensure robust security and reliability, unforeseen issues
may
arise.
Market Risks: Market risks are inherent in the cryptocurrency market, including volatility, liquidity
constraints, and
macroeconomic factors that can adversely affect token prices and market conditions.
Regulatory Risks: Regulatory risks include changes in laws and regulations governing cryptocurrency and
blockchain
technology, which may impact our operations and your investment. Compliance with evolving legal standards is a
continual
process, and future regulations could impose additional requirements.
By participating in the SOL Space Marketplace or by using the SOL Space Protocol, you acknowledge and accept
these risks. We encourage all
potential investors to
conduct
thorough research and consult with financial advisors before making investment decisions. Please read the risks
and liability claims in our Terms of Use as well.
Environmental Impact Disclosure
We are dedicated to sustainability and transparency regarding our environmental impact:
Energy Consumption:
• Transactions / Finance: SOL Space Protocol uses Solana Blockchain for the transactional / financial part and
does not operate its own
blockchain for this purpose. Our energy consumption footprint is insignificant compared to that of PoW
(Proof of Work)
based coins. Solana
uses a PoS consensus mechanism which does not consume more power than any other internet service that sends
or receives
very simple and lightweight transactional data.
• SOL Space Protocol: Due to the decentralized nature of the protocol, the transfering of data (upload or
download) will probably not be higher than an upload or download to or from any traditional cloud based storage
from a centralized datacenter. Most of the devices participating in the network use battery technology, are
already powered and are using very little energy from a single source due to the decentralized nature of the
network, not putting any strain on any
single power
plant or energy grid. Our aim is also to use more and more of the Starlink network to improve on this efficiency
even more. More info about this will be published as the protocol will be launched and tested
properly.
Sustainability Practices: Information on our efforts to minimize the environmental footprint,
including energy-efficient
practices and technologies will be made public regularly, especially at a later stage when we will consider
integrating more blockchains into the SOL Space Marketplace.
Regulatory Compliance
WEB 3 PIONEERS, a Romanian company currently developing the protocol (Unique
Identification Code: 50281743 | EUID: ROONRC.J40/12567/2024) is committed to full compliance with MiCA
regulations:
Authorization: We are in the process of obtaining necessary authorizations from relevant authorities
in Romania and
other EU member states.
AML/KYC Procedures: While launchpads handle AML/KYC for public sales, we ensure compliance for our
private sale to
early investors through exchanges or through KYC service providers like CertSign or others. We also keep
investor personal information for 10 years as required by most AML legislation/measures.
Ongoing Compliance: We plan to do regular audits and updates to our compliance measures to adhere to
evolving regulations.
Token and Data Management
Token: SOLRE is a token issued on the
Solana blockchain used within the SOL Space Protocol for renting out free device space or
purchasing decentralized cloud storage.
Data Encryption and Redundancy: User data is encrypted and stored across multiple devices in a
trustless manner. SOL Space Protocol ensures robust data redundancy with multiple copies of data available in
real-time.