You could lose all the money you spend on $ANGEL. It is a high-risk cryptoasset, its price can fall to zero, and it gives you no rights of any kind.
what it is
$ANGEL is a token (ERC-20) on the Ethereum blockchain, created through SuperRare’s Liquid Editions. Its maximum supply, about one million tokens, is fixed at launch. Tokens can be burned, which reduces the supply permanently, and no more can ever be created.
At launch, SuperRare’s contracts place the supply, less any allocation to the artist, in a public trading pool (on Uniswap), paired with SuperRare’s RARE token and spread along a price curve set at launch. There is no sale by the artist. Anyone who wants $ANGEL buys it from, or sells it to, that pool, and its price moves with every trade.
Every trade in the pool pays a fee, currently 1.25% of its value in RARE, split equally between the artist and SuperRare. SuperRare’s contracts set these fees and SuperRare can change them. The artist cannot change the supply, the pool or the fees.
trading on this site
Where END GAME’s own pages let you buy, sell or burn $ANGEL, you do it from your own wallet: the page prepares each transaction, and you check it and sign it in your wallet. Buying and selling go through SuperRare’s trading contract (its LiquidRouter) and Uniswap’s pools, the same route SuperRare’s own page uses; a burn goes to the $ANGEL contract itself. The site never holds your money or tokens, does not set or guarantee any price, and cannot stop, change or reverse a transaction once you have signed it.
The amounts shown before you sign are estimates read from the blockchain. You choose the least you will accept (the slippage); if the price moves further before your transaction is included in a block, the transaction fails and only the network fee is spent. To sell, you first allow SuperRare’s contract to take that amount of $ANGEL, which is a separate transaction. Every trade pays the pool’s fee described above and a network fee. The chart, the activity and the collectors are read from the blockchain and may be delayed, incomplete or wrong; the blockchain is the record.
Once a trade or a burn is included in a block it is final: nothing can be cancelled or refunded.
what it is not
$ANGEL is not a share, security, bond, deposit, electronic money, fund unit or any other investment, and it is not a claim on the artist, SuperRare or anyone else. It gives no ownership of any artwork, no right to profits, revenues or fees, no vote, no redemption, and no right to any product, service or future benefit. Its role in END GAME is artistic, and that role may change.
no offer, no advice
Nothing on this site, and nothing the artist says or publishes about END GAME, is an offer of $ANGEL, an invitation or inducement to buy it, or advice about it. Do not buy $ANGEL expecting a profit or as a way to fund the artist’s work. If you are unsure whether it is right for you, do not buy it, or take independent advice.
the artist’s interests
The artist receives half of $ANGEL’s trading fees, and so earns more when more of it is traded. The artist may also receive an allocation of $ANGEL at launch, and may buy, hold, sell, transfer or burn $ANGEL at any time, including as part of the artwork. These actions can move its price. The artist does not promise to support its price or to hold any amount of it.
its risks
- Price. Cryptoasset prices are volatile. $ANGEL’s price can fall sharply or to zero and may not recover.
- Liquidity. The pool is the main place to trade. Large trades move the price sharply, and at times you may be unable to sell at the price you expect, or at all.
- Launch. Automated trading programs (“bots”) may buy in the first moments after launch, moving the price before others can act.
- RARE. The pool is priced in RARE, so $ANGEL’s value in other currencies also depends on RARE’s price, and converting between them adds costs.
- Contracts. $ANGEL relies on smart contracts written and controlled by SuperRare, and on Uniswap. Errors, exploits or changes in them could cause loss.
- Burns. Burned $ANGEL is destroyed and cannot be recovered.
- Protection. Cryptoassets are largely unregulated in the UK. If something goes wrong, you are unlikely to have access to the Financial Ombudsman Service or to protection from the Financial Services Compensation Scheme.
- Regulation. Laws on cryptoassets are changing and may restrict buying, holding or selling $ANGEL where you live.
where it is not for
$ANGEL, and information about it, is not intended for anyone in a place where buying or holding it, or receiving that information, is unlawful or requires an authorisation the artist does not have. You are responsible for checking the law where you live.