(a) Problem the Project Solves

Superform is the user-owned neobank, combining non-custodial vault infrastructure with smart account technology to deliver institutional-grade DeFi access with a consumer-friendly experience. The platform addresses the DeFi fragmentation across chains, where users currently must manage multiple wallets, bridge tokens manually, and navigate complex interfaces while traditional finance and centralized crypto platforms offer poor yields while maintaining custody of user funds.

(b) Operational Priorities

The Superform ecosystem is supported by the Superform Foundation, a Cayman Islands Foundation company established on January 23, 2025, overseen by a board of directors consisting of two Cayman-based independent directors and Vikram Arun. Future development and operational costs will be paid from revenue. The Foundation multisig may mint tokens only after the 3-year hard cap period, subject to governance approval of up to 2% annual inflation.

(c) High-Level Project Overview

The platform consists of three core components: Superform Web & Mobile (native applications for iOS, Android, and web providing unified access to DeFi enabling users to swap, send, and spend their onchain assets), SuperVaults (permissionless, non-custodial institutional-grade vaults secured by a validator network that execute flexible strategies with deterministic price-per-share, management, and performance fees), and the UP Token (the native coordination and governance asset that aligns network participants through staking, bonding, and decentralized governance). The protocol's modular design allows developers and users to compose strategies such as bridging, swapping, lending, and staking without requiring trusted intermediaries or protocol upgrades. All operations are non-custodial, meaning users maintain control of their private keys and assets at all times.

(d) Primary Token Functions

The UP token serves as the native coordination and governance token. When UP is staked, it mints sUP (staked UP), a vault token used for governance. Through sUP, token holders can propose and vote on incentive allocation, treasury use, and emission parameters; adjust validator policies, registry changes, and price-per-share standards; approve listings and risk parameters; and initiate emergency actions. Validators who attest to price-per-share data post UP as collateral with slashing penalties for dishonest reporting, and strategy execution requires UP bonds to deter negligence. The functionality of UP tokens is limited to protocol coordination and governance participation within the decentralized Superform ecosystem. UP tokens do not represent ownership, equity, profit entitlement, or claims on assets of any affiliated entity.

(e) Control Surface Reliance

No roles exist that have the ability to freeze assets, seize user funds, or blacklist addresses, as the protocol is entirely non-custodial. The Foundation multisig may mint tokens only after the 3-year hard cap period, subject to governance approval of up to 2% annual inflation.

Labs/DevCo

Foundation

DAO/Onchain Governance

The Superform Foundation is a Cayman Islands Foundation company that does not operate as a traditional DAO with direct onchain governance of protocol contracts. The Foundation is overseen by a board of directors consisting of two Cayman-based independent directors and Vikram Arun. Superform (BVI) Limited, responsible for UP token activities, has the Superform Foundation as its sole director.

(a) IP Ownership & Control

Superform Labs transferred the Superform Protocol v1 and v2, SuperVaults v1 and v2, the Superform Foundation website and the UP token to the Superform Foundation. Superform Labs licensed the Superform brand to the Superform Foundation and retains ownership of the Superform App which is closed source. The Superform Protocol and SuperVaults are open-source under an Apache License.

(b) Contract/Admin Powers

The Foundation multisig (2 of 3, the three directors are signers) may mint tokens only after the 3-year hard cap period, subject to governance approval of up to 2% annual inflation. No roles exist that have the ability to freeze assets, seize user funds, or blacklist addresses, as the protocol is entirely non-custodial. The only function callable by the multisig is the mint function after the timelock expires, no other functions exist. Through sUP, token holders can propose and vote on incentive allocation, treasury use, and emission parameters; adjust validator policies, registry changes, and price-per-share standards; approve listings and risk parameters; and initiate emergency actions. sUP governance decisions are non-binding and subject to legal, regulatory, and feasibility review by the Superform Foundation.

(c) Locked-Token Rights

When UP is staked, it mints sUP (staked UP), a vault token used for governance. Through sUP, token holders can propose and vote on incentive allocation, treasury use, and emission parameters; adjust validator policies, registry changes, and price-per-share standards; approve listings and risk parameters; and initiate emergency actions. Validators who attest to price-per-share data post UP as collateral with slashing penalties for dishonest reporting, and strategy execution requires UP bonds to deter negligence. Unstaked UP holders do not have governance voting rights. Insiders with locked tokens (i.e. Team, Investors and Advisors) cannot participate in sUP staking or governance until their tokens are freely available and unclocked. sUP holders cannot decide Foundation board composition, legal entity decisions, or other Foundation-level operational decisions.

(d) Value Accrual & Holder Rights

Governance voted and passed SIP-1: Update SuperGovernor Parameter to 2,000 BPS, which provides 20% of protocol revenue collected in the SuperBank which buys $UP and sends it to the sUP vault. sUP holders can propose changes to governance and vote on future proposals to change parameters in the protocol. SuperBank automatically splits fees and sends 80% to the Foundation Treasury and the rest to sUP. The Foundation Treasury is controlled by the directors of the Superform Foundation using a ⅔ Porto multisig. The functionality of UP tokens is limited to protocol coordination and governance participation within the decentralized Superform ecosystem — UP tokens do not represent ownership, equity, profit entitlement, or claims on assets of any affiliated entity. Future development and operational costs will be paid from revenue.

(e) Dissolution Authority

Only a board resolution passed by the directors of the Cayman Island based Superform Foundation or action by local authorities can dissolve the Superform Foundation. sUP plays no role in this.

Primary Foundation: Superform Foundation

(a) Entity

Type & Jurisdiction Type: Foundation Company (non-profit) Jurisdiction: Cayman Islands Established: January 23, 2025 Board: Three Directors, mentioned in Section 2.

(b) IP Ownership & Control

Superform Foundation Repos/Code:

• https://github.com/superform-xyz/v2-periphery
• https://github.com/superform-xyz/v2-core
• https://github.com/superform-xyz/superform-core
• www.superformfoundation.org The Superform website, web app, iOS and Android app as well as the Superform brand are retained by Superform Labs. The Superform Foundation has a license agreement with Superform Labs for use of the apps and branding. Superform Labs is contracted by the Superform Foundation under a Services Agreement to provide protocol development and maintenance for the Superform Protocol. Subsidiary: The Foundation is the sole director (and parent company) of Superform (BVI) Limited, a BVI Business Company incorporated February 19, 2025. The BVI entity is responsible for overseeing and administering activities connected to the UP token — including UP distributions, strategic partnerships, and token treasury operations. The Foundation controls the BVI entity as its sole director.

(c) Powers over DAO / Treasury / Revenue

The Foundation operates under a hybrid onchain governance with multi-sig controls during progressive decentralization model. The Foundation manages the protocol treasury and fund allocation via a Treasury Multi-Sig. The Community & Ecosystem token allocation is administered by the Foundation/BVI, covering: DEX incentives, liquidity incentives, user rewards, developer grants, security reserves, marketing, and validator/strategist pools. Revenue distribution (% to sUP stakers, % to treasury) is subject to guidance by governance with the Foundation in charge of implementation. After 3 years, the Foundation multisig is the only entity that may mint new tokens (up to 2% annual inflation), subject to governance approval. Method/Threshold: 2-of-3 multisig on both the Foundation and BVI wallets.

(d) Powers over DevCo / Foundation

The Foundation is not controlled by the DevCo (Superform Labs). The Foundation is an independent Cayman Foundation Company with its own board. The Foundation received a $100,000 loan from Superform Labs at inception for initial operating costs. The Foundation exerts no disclosed formal authority over Superform Labs' internal operations, but the Foundation oversees ecosystem governance, which encompasses the protocol that Superform Labs develops.

(e) Contract / Admin Powers

Primary DevCo: ZeroPoint Labs Inc. d/b/a Superform Labs

(a) Entity

Type & Jurisdiction Type: C-Corporation Jurisdiction: Delaware, USA Incorporated: January 11, 2022 Registered Address: 251 Little Falls Drive, Wilmington, New Castle County, Delaware 19808 Co-founders: Vikram Arun, Blake Richardson, Alexandre Cort

(b) IP Ownership & Control

Repos/Code: Superform Labs is the core contributor that builds and supports the Superform Protocol and "provides development and technical services related to the implementation and ongoing development of the protocol." Superform Labs Repos/Code: https://github.com/superform-xyz/monorepo/tree/main/appswww.superform.xyz

(c) Powers over DAO / Treasury / Revenue

It has no powers. Superform Labs is not related to the DAO nor the Superform Foundation treasury. Superform Labs does not currently collect fees or make revenue.

(d) Powers over DevCo / Foundation

Superform Labs has no authority over the Foundation. The Foundation is the parent/governance entity with its own independent board. The Foundation relied on Superform Labs for a $100K initial loan. Superform Labs has a services agreement with the Superform Foundation that requires it to develop the protocol based on the Superform Foundation’s specifications. The Foundation has no authority over Superform Labs' internal operations (corporate governance, hiring, etc.), though as the protocol governance body it controls what gets deployed and how the protocol evolves.

(e) Contract / Admin Powers

No direct onchain admin powers are attributed to Superform Labs. All multisig signers on both the Foundation and BVI wallets are directors of Superform Foundation.

(a) Launch supply totals

The initial circulating supply at launch is 13.9% of total supply (139,224,377 UP), unlocked on Day One on Base. This breakdown includes:

• Public sale participants: 3.72% (fully unlocked at TGE)
• Airdrop recipients: 1.36% liquid on Day One (Out of 3.7% Total Airdrop)
• Liquidity: 2.98%
• Community & Ecosystem: 5.86% available at TGE Total Supply of UP: 1,000,000,000

(b) Recipient Categories

(c) Initial Price Per Token

$0.09 USD per UP.

(d) Ticker / Market Symbol

$UP — ERC-20 on Ethereum and Base (LayerZero OFT bridge between chains)

• Ethereum: 0x1D926bbE67425C9F507b9A0E8030eEdc7880BF33
• Base: 0x5b2193fDc451C1f847bE09CA9d13A4Bf60f8c86B

(e) Total Supply & Supply Regime

Total Supply: 1,000,000,000 UP Regime: Fixed supply with conditional future inflation.

• Years 0–3: Hard-capped. No minting permitted under any circumstances.
• Year 3+: Governance (sUP holders) may authorize up to 2% annual inflation maximum. Intended uses: validator rewards, strategist incentives, community programs, ecosystem development. Requires governance vote; the Foundation multisig (2-of-3) executes the mint.

(f) Initial Vesting & Release Schedules

Superform has conducted its primary airdrop. 3.70% of total supply (37,000,000 $UP) was allocated to the community airdrop program, distributed on February 10, 2026. 1.364% was unlocked at TGE with the remaining 2.336% vesting monthly over 3 months. Eligibility was the following:

• Deposits into the Superform Protocol via the Superform app or through partner integrations like Pendle, Spectra, Morpho, etc.
• Participated in the Superform Community (Content, Events, Social)
• Qualified for the Cookie. Fun Campaign You can see the Airdrop CSV here: https://www.superformfoundation.org/airdrop. Unclaimed airdrop tokens following the claim period will be returned to the ecosystem treasury.

No agreements or deals exist with any CEX or DEX. No native tokens were paid for listing or promotional activity. As of the date of this disclosure, no grants, incentive payments, or token distributions in UP have been made to any centralized exchange or exchange-affiliated entity for listing, marketing, or promotional purposes. Any such arrangements, if entered into in the future, would be disclosed in an updated version of this document.

No discounted market maker sales, OTC sales nor other sales have occurred outside of the disclosed sales above.

No major security incidents to date. As of February 2026, neither the Superform Protocol nor the UP token has experienced any security breaches, hacks, or exploits resulting in loss of user funds.- Superform V1 launched May 2024: No security incidents- Superform V2 launched October 2025: No security incidents- UP token deployment: No incidents reportedSecurity Audits: Spearbit (multiple comprehensive audits), Cantina (multiple code competitions), Node Security (core review), Orion (core review), 0xMacro (periphery review), Recon (invariant testing), Octane (recurring tests). All critical and high-severity findings addressed prior to deployment. Audit Reports:- Core: https://github.com/superform-xyz/v2-core/tree/dev/audits- Periphery: https://github.com/superform-xyz/v2-periphery/tree/dev/audits- UP Token: https://github.com/superform-xyz/v2-periphery/blob/dev/audits/2025.11.27-0xMacro.pdf

Technology, Token Economics)

A. Regulatory, Legal & Tax Risks

The legal and regulatory treatment of crypto-assets remains uncertain and varies across jurisdictions. UP tokens may be classified as securities, financial instruments, or otherwise regulated assets in certain jurisdictions, which could result in restrictions on transferability, trading, or use, delisting from exchanges, or other regulatory actions. Certain jurisdictions restrict or prohibit acquisition of UP tokens. Restricted jurisdictions include US, UK (for certain sales), China, and OFAC-sanctioned regions. The tax treatment of UP tokens is uncertain; token holders are solely responsible for determining and complying with applicable tax obligations in their respective jurisdictions.

B. Protocol, Technology & Security Risks

The Superform Protocol and UP token rely on smart contracts which, despite audits and security reviews, may contain undiscovered vulnerabilities, logic errors, or integration issues. The protocol operates on Ethereum and Base, which may experience congestion, high fees, reorganization events, or other disruptions. Cross-chain functionality relies on LayerZero OFT bridge infrastructure, which historically has been subject to exploits. The protocol relies on validator networks for price-per-share reporting; incorrect or manipulated data could lead to mispricing or losses.

C. Token Economics, Unlocks & Incentive Risks

UP is subject to significant price volatility with no assurance that a liquid market will develop or be sustained. UP tokens do not represent equity, ownership, profit-sharing rights, dividends, or claims on assets or revenues of Superform (BVI) Limited, the Superform Foundation, Superform Labs, or any affiliated entity. Although market makers provide liquidity, there is no guarantee of sufficient liquidity at any time. After 3 years, governance may authorize up to 2% annual inflation, diluting existing holders. Governance decisions may not align with the interests of all token holders. There is no assurance that UP tokens will have any value, liquidity, or utility.