2024-01-01 2024-12-31

Baby Shark Universe MiCAR White Paper

IN ACCORDANCE WITH

TITLE II OF REGULATION (EU) 2023/1114

Table of Contents

  1. Information about the Person Seeking Admission to Trading
    1. A.1 Name
    2. A.2 Legal Form
    3. A.3 Registered address
    4. A.4 Head office
    5. A.5 Registration Date
    6. A.6 Legal entity identifier
    7. A.7 Another identifier required pursuant to applicable national law
    8. A.8 Contact telephone number
    9. A.9 E-mail address
    10. A.10 Response Time (Days)
    11. A.11 Parent Company
    12. A.12 Members of the Management body
    13. A.13 Business Activity
    14. A.14 Parent Company Business Activity
    15. A.15 Newly Established
    16. A.17 Financial condition since registration
  2. Information about the issuer, if different from the offeror or person seeking admission to trading
    1. B.1 Issuer different from offeror or person seeking admission to trading
    2. B.2 Name
    3. B.3 Legal Form
    4. B.4 Registered address
    5. B.5 Head office
    6. B.6 Registration Date
    7. B.7 Legal entity identifier
    8. B.8 Another identifier required pursuant to applicable national law
    9. B.9 Parent Company
    10. B.10 Members of the Management Body
    11. B.11 Business Activity
    12. B.12 Parent Company Business Activity
  3. 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
    1. C.1 Name
    2. C.2 Legal Form
    3. C.3 Registered address
    4. C.4 Head office
    5. C.5 Registration Date
    6. C.6 Legal entity identifier of the operator of the trading platform
    7. C.7 Another identifier required pursuant to applicable national law
    8. C.8 Parent Company
    9. C.9 Reason for Crypto-Asset White Paper Preparation
    10. C.10 Members of the Management body
    11. C.11 Operator Business Activity
    12. C.12 Parent Company Business Activity
    13. C.13 Other persons drawing up the crypto- asset white paper according to Article 6(1), second subparagraph, of Regulation (EU) 2023/1114
    14. C.14 Reason for drawing the white paper by persons referred to in Article 6(1), second subparagraph, of Regulation (EU) 2023/1114
  4. Information about the Crypto-Asset Project
    1. D.1 Crypto-asset project name
    2. D.2 Crypto-assets name
    3. D.3 Abbreviation
    4. D.4 Crypto-asset project description
    5. D.5 Details of all natural or legal persons involved in the implementation of the crypto-asset project
    6. D.6 Utility Token Classification
    7. D.7 Key Features of Goods/Services for Utility Token Projects
    8. D.8 Plans for the token
    9. D.9 Resource Allocation
    10. D.10 Planned Use of Collected Funds or Crypto-Assets
  5. Information about the Admission to Trading
    1. E.1 Public Offering or Admission to trading
    2. E.2 Reasons for Public Offer or Admission to trading
    3. E.3 Fundraising Target
    4. E.4 Minimum Subscription Goals
    5. E.5 Maximum Subscription Goal
    6. E.6 Oversubscription Acceptance
    7. E.7 Oversubscription Allocation
    8. E.8 Issue Price
    9. E.9 Official currency or any other crypto- assets determining the issue price
    10. E.10 Subscription fee
    11. E.11 Offer Price Determination Method
    12. E.12 Total Number of Offered/Traded Crypto- Assets
    13. E.13 Targeted Holders
    14. E.14 Holder restrictions
    15. E.16 Refund Mechanism
    16. E.17 Refund Timeline
    17. E.18 Offer Phases
    18. E.19 Early Purchase Discount
    19. E.20 Time-limited offer
    20. E.21 Subscription period beginning
    21. E.22 Subscription period end
    22. E.23 Safeguarding Arrangements for Offered Funds/Crypto-Assets
    23. E.24 Payment Methods for Crypto-Asset Purchase
    24. E.25 Value Transfer Methods for Reimbursement
    25. E.26 Right of Withdrawal
    26. E.27 Transfer of Purchased Crypto-Assets
    27. E.28 Transfer Time Schedule
    28. E.29 Purchaser's Technical Requirements
    29. E.30 Crypto-asset service provider (CASP) name
    30. E.31 CASP identifier
    31. E.32 Placement form
    32. E.33 Trading Platforms name
    33. E.34 Trading Platforms Market Identifier Code (MIC)
    34. E.35 Trading Platforms Access
    35. E.36 Involved costs
    36. E.37 Offer Expenses
    37. E.38 Conflicts of Interest
    38. E.39 Applicable law
    39. E.40 Competent court
  6. Information about the Crypto-Assets
    1. F.1 Crypto-Asset Type
    2. F.2 Crypto-Asset Functionality
    3. F.3 Planned Application of Functionalities
    4. F.4 Type of white paper
    5. F.5 The type of submission
    6. F.6 Crypto-Asset Characteristics
    7. F.7 Commercial name or trading name
    8. F.8 Website of the issuer
    9. F.9 Starting date of offer to the public or admission to trading
    10. F.10 Publication date
    11. F.11 Any other services provided by the issuer
    12. F.12 Language or languages of the white paper
    13. 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
    14. F.14 Functionally Fungible Group Digital Token Identifier, where available
    15. F.15 Voluntary data flag
    16. F.16 Personal data flag
    17. F.17 LEI eligibility
    18. F.18 Home Member State
    19. F.19 Host Member States
  7. Information on the rights and obligations attached to the crypto-assets
    1. G.1 Purchaser Rights and Obligations
    2. G.2 Exercise of Rights and obligations
    3. G.3 Conditions for modifications of rights and obligations
    4. G.4 Future Public Offers
    5. G.5 Issuer Retained Crypto-Assets
    6. G.6 Utility Token Classification
    7. G.7 Key Features of Goods/Services of Utility Tokens
    8. G.8 Utility Tokens Redemption
    9. G.9 Non-Trading request
    10. G.10 Crypto-Assets purchase or sale modalities
    11. G.11 Crypto-Assets Transfer Restrictions
    12. G.12 Supply Adjustment Protocols
    13. G.13 Supply Adjustment Mechanisms
    14. G.14 Token Value Protection Schemes
    15. G.15 Token Value Protection Schemes Description
    16. G.16 Compensation Schemes
    17. G.17 Compensation Schemes Description
    18. G.18 Applicable law
    19. G.19 Competent court
  8. Information on the Underlying Technology
    1. H.1 Distributed ledger technology
    2. H.2 Protocols and technical standards
    3. H.3 Technology Used
    4. H.4 Consensus Mechanism
    5. H.5 Incentive Mechanisms and Applicable Fees
    6. H.6 Use of Distributed Ledger Technology
    7. H.7 DLT Functionality Description
    8. H.8 Audit
    9. H.9 Audit outcome
  9. Information on Risks
    1. I.1 Offer-Related Risks
    2. I.2 Issuer-Related Risks
    3. I.3 Crypto-Assets-related Risks
    4. I.4 Project Implementation-Related Risks
    5. I.5 Technology-Related Risks
    6. I.6 Mitigation measures
  10. Information on the sustainability indicators in relation to adverse impact on the climate and other environment-related adverse impacts
    1. S.1 Name
    2. S.2 Relevant legal entity identifier
    3. S.3 Name of the crypto-asset
    4. S.4 Consensus Mechanism
    5. S.5 Incentive Mechanisms and Applicable Fees
    6. S.6 Beginning of the period to which the disclosure relates
    7. S.7 End of the period to which the disclosure relates
    8. S.8 Energy consumption
    9. S.9 Energy consumption sources and methodologies
01. Date of Notification: 2025-09-29

Regulatory Disclosures

02. Statement in accordance with Article 6(3) of Regulation (EU) 2023/1114:
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
This crypto-asset white paper complies with Title II of Regulation (EU) 2023/1114 and, to the best of the knowledge of the management body of BSUNIVERSE PTE. LTD., 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):
The crypto-asset referred to in this 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):
The utility token referred to in this white paper may not be exchangeable against the good or service promised in the crypto-asset white paper, especially in the case of a failure or discontinuation of the crypto-asset project.
06. Statement in accordance with Article 6(5), points (e) and (f):
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. The crypto-asset referred to in this white paper is not covered by the deposit guarantee schemes under Directive 2014/49/EU of the European Parliament and of the Council.

Summary

07. 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 (36) or any other offer document pursuant to Union or national law.
08. Characteristics of the Crypto-Asset BSU is a utility token for the Baby Shark Universe ecosystem. Purchasers have no rights or obligations other than ownership of the token. This ownership allows holders to use BSU as an in-game currency, for NFT minting, staking, governance voting, and redeeming physical merchandise. These functions are accessed by interacting with the platform using a compatible BEP-20 wallet. The rights and obligations of the BSU token cannot be modified by the issuer.
09. Utility Token Summary The Baby Shark Universe Token (BSU) is the primary utility token within the Baby Shark Universe entertainment platform. It grants access to a variety of goods and services with a total supply of 850,000,000 BSU tokens. Key functionalities include: (i) In-Game Currency: Used for purchasing items, upgrades, and participating in special events; (ii) NFT Minting: Enables the creation of Baby Shark NFT stickers and in-game items; (iii) Staking: Allows token holders to earn rewards; (iv) Governance: Grants participation in voting on major ecosystem decisions; and (v) Physical Redemption: Facilitates the exchange of NFTs for physical Baby Shark merchandise. While there are no inherent restrictions on the transferability of the token, access to the platform's services is restricted for users from OFAC-sanctioned countries.
10. Key Information About the Admission to Trading No public offer of Baby Shark Universe (BSU) tokens is being made. The token is already issued and in circulation, and this disclosure relates to its admission to trading. There is no issuance of new tokens, no subscription period, and no associated fundraising activity. Consequently, there are no fundraising targets, issue prices, or subscription fees applicable. Admission to trading for BSU tokens is being sought on the Payward Europe Solutions Limited (Kraken) trading platform. No crypto-asset service provider has been appointed to place the token.

A. Information about the Person Seeking Admission to Trading

A.1 Name: BSUNIVERSE PTE. LTD.
A.2 Legal Form: LWXI
A.3 Registered address: 15 BEACH ROAD, #05-08, BEACH CENTRE, SINGAPORE 189677, BEACH CENTRE, 189677, SG
A.4 Head office: N/A
A.5 Registration Date: 2023-06-19
A.6 Legal entity identifier: N/A
A.7 Another identifier required pursuant to applicable national law: 202324135H
A.8 Contact telephone number: +82)10-3502-9852
A.9 E-mail address: dragon@bsuniverse.io
A.10 Response Time (Days): 015
A.11 Parent Company: N/A
A.12 Members of the Management body:
Name Business Function Business Address
Kim Cheong Yong CEO 15 BEACH ROAD, #05-08, BEACH CENTRE, SINGAPORE 189677
Choi Chang Wan Director 15 BEACH ROAD, #05-08, BEACH CENTRE, SINGAPORE 189677
A.13 Business Activity:

Baby Shark Universe / Baby Shark Pop (Mobile & Web Games):
- A casual game series based on the Baby Shark IP.
- Revenue generated through in-app purchases, NFT-based gacha systems, and user engagement across both Web2 and Web3 platforms.
- Serves as a bridge between traditional gamers and blockchain-based digital asset holders.
NFT Collection (Baby Shark IP NFTs):
- A limited-edition NFT series in collaboration with the global NFT community.
- Revenue generated through initial sales and secondary market royalties.
- Expands the Baby Shark fandom into digital ownership and collectibles, reinforcing brand value.>

A.14 Parent Company Business Activity: N/A
A.15 Newly Established: false
A.17 Financial condition since registration:

On June 20, 2023, the BSU Foundation was established and officially registered as a legal entity. Since its registration in the commercial register on June 20, 2023, the Foundation has diligently submitted its audited financial statements annually to the Accounting and Corporate Regulatory Authority (ACRA) in compliance with Singapore law. The most recent audited financial statement is for the year 2024, and the audited statement for 2025 will also be submitted in accordance with the reporting schedule.

Summary of Financial Position

Audited Financial Statement 2023 (in USD)

Current Assets: 1,000,000 USD

Fixed Assets: 301,210 USD

Total Assets: 1,301,210 USD

Current Liabilities: 0

Equity: 1,301,210 USD

Total Liabilities and Equity: 1,301,210 USD

Audited Financial Statement 2024 (in USD)

Current Assets: 2,301,001 USD

Fixed Assets: 701,000 USD

Total Assets: 3,002,001 USD

Current Liabilities: 0

Equity: 3,002,001 USD

Total Liabilities and Equity: 3,002,001 USD

Financial Performance and Key Activities

The financial performance of the BSU Foundation reflects its strategic focus on leveraging its Web2-based services and intellectual property in the early stages, while actively driving investment and expansion into the Web3 space. This aligns with the Foundation's mission to advance decentralized software architecture, particularly within the gaming and metaverse sectors.

Key financial activities include:

a. Software Development: Development of decentralized technologies and the digital asset universe

b. Operational Expense Management: Administrative costs, regulatory compliance, and governance-related expenditures

c. Strategic Investments: Long-term growth and ecosystem expansion, including BSU token investments

Since its establishment, the Foundation has raised over 3,000,000 USD, demonstrating the strong interest and confidence investors place in the Baby Shark IP, not only within Web2 but also in Web3. These funds have supported core activities such as software development, operational expenses, and strategic investments, thereby providing a solid foundation for fulfilling the Foundation's mission.

In 2023, more than 500,000 USD was invested into software development, alongside significant administrative expenses. In 2024, the Foundation secured an additional 2,000,000 USD in funding, enabling continued growth.

In 2025, with the launch of its proprietary game, the Foundation achieved daily revenues of approximately 10,000 USD, demonstrating the project's commercial viability. Furthermore, with listings beginning on Binance Alpha and subsequently on several global exchanges, the 2025 financial statements are expected to reflect a more stable and growth-oriented outlook.

B. Information about the issuer, if different from the offeror or person seeking admission to trading

B.1 Issuer different from offeror or person seeking admission to trading: true - different
B.2 Name: BS WORLD LIMITED
B.3 Legal Form: 6EH6
B.4 Registered address: Craigmuir Chambers, Road Town, Tortola, VG 1110, British Virgin Islands, Road Town, VG 1110, VG
B.5 Head office: N/A
B.6 Registration Date: 2022-08-17
B.7 Legal entity identifier: N/A
B.8 Another identifier required pursuant to applicable national law: 2105636
B.9 Parent Company: N/A
B.10 Members of the Management Body:
Name Business Function Business Address
Kim Cheong Yong CEO 15 BEACH ROAD, #05-08, BEACH CENTRE, SINGAPORE 189677
B.11 Business Activity: BS WORLD LIMITED Foundation's business activity involves issuance of the cryptocurrency $BSU (Baby Shark Universe Token) as described in this whitepaper.
B.12 Parent Company Business Activity: N/A

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, This section is not applicable, as neither the operator of a trading platform nor any other person, apart from the issuer, has drawn up or contributed to the preparation of the crypto-asset white paper.
C.2 Legal Form: N/A
C.3 Registered address: N/A
C.4 Head office: N/A
C.5 Registration Date: N/A
C.6 Legal entity identifier of the operator of the trading platform: 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: 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

D. Information about the Crypto-Asset Project

D.1 Crypto-asset project name: Baby Shark Universe
D.2 Crypto-assets name: Baby Shark Universe Token
D.3 Abbreviation: BSU
D.4 Crypto-asset project description: Baby Shark Universe (BSU) is an entertainment and digital asset platform that transforms the globally recognized kids’ IP, Baby Shark, into a seamless hybrid ecosystem bridging Web2 and Web3. By integrating gaming, NFTs, and physical merchandise, BSU offers users a frictionless experience through automatic wallet creation with social login, multi-platform compatibility, and an NFT-to-physical goods exchange system.

Key Highlights:
-Global IP Expansion: Baby Shark’s 22 billion+ YouTube views and 110 million+ subscribers are expanded into the Web3 ecosystem.
-Hybrid Entertainment Platform: A sustainable economy integrating casual games, NFTs, and the Line Dapp ecosystem.
-Reduced Onboarding Friction: Social login and automatic wallet generation lower onboarding churn by over 90%.
-Multi-Platform Service: Available simultaneously on Google Play, LINE Dapp Portal, and web platforms.
-NFT ↔ Physical Goods Exchange: Seamless user experience bridging digital and physical assets.
-Sustainable Token Economy: BSU token is used as the core in-game asset and in community challenges, supporting real-world use cases.
-Cross-Reality Expansion: Preparing for scalable interoperability between physical and digital worlds. This project is not just a Web3 game or NFT series, but a mass adoption-focused entertainment ecosystem built on one of the world’s most beloved kids’ IPs.
D.5 Details of all natural or legal persons involved in the implementation of the crypto-asset project:
Name Business Function Business Address
BSUNIVERSE PTE.LTD. Foundation 15 BEACH ROAD, #05-08, BEACH CENTRE, SINGAPORE 189677
BS WORLD LIMITED Issuer Craigmuir Chambers, Road Town, Tortola, VG 1110, British Virgin Islands
Kim Cheong Yong CEO 15 BEACH ROAD, #05-08, BEACH CENTRE, SINGAPORE 189677
Choi Chang Wan Director 15 BEACH ROAD, #05-08, BEACH CENTRE, SINGAPORE 189677
D.6 Utility Token Classification: true
D.7 Key Features of Goods/Services for Utility Token Projects:

Key Features:

1. Global IP Expansion: Leverages Baby Shark’s 22 billion+ YouTube views and over 110 million subscribers to grow its presence in the Web3 ecosystem.

2. Hybrid Entertainment Platform: Builds a sustainable economy by integrating mobile games, web games (via LINE Dappportal), NFTs, and a metaverse.

3. Frictionless Onboarding: Reduces onboarding drop-off rates by over 90% through social login and automatic wallet creation.

D.8 Plans for the token:

2023 Q1 (Completed)

• Developed metaverse prototype

• Prepared key partnerships

• Participated in GDC (Global Developers Conference)

2023 Q2 (Completed)

• Established Singapore headquarters

• Upgraded prototype

2023 Q3 (Completed)

• Conducted 1st alpha test

• Released beta version of NFT marketplace

2023 Q4 (Completed)

• Official launch of NFT marketplace

• Conducted 2nd test and community events

2024 Q1

• 2nd NFT minting (Completed)

• 3rd alpha test (Completed)

• Released SHARK-1 Devnet

2024 Q2

• Conducted Closed Beta Test (CBT) (Completed)

• Released Universe HUB (Completed)

• Conducted 1st Open Beta Test (OBT) (Completed)

• Introduced LAND customization feature

2024 Q3

• 2nd Open Beta Test (Completed)

2024 Q4 (Completed)

• 3rd Open Beta Test (final test before official launch)

2025 Q1 (Completed)

• Official launch of LINE game Baby Shark Pop

• Onboarded 100,000 users with 100% wallet integration

• Sold out Pudgy Penguins collaboration sticker NFTs

2025 Q2 (Completed)

• IP-related project partnerships

• Sold out Lil Pudgys collaboration sticker NFTs

• Sold out Baby Shark solo sticker NFT collection

2025 Q3

• Launch of Baby Shark: Bubble Splash

• Implementation of digital-to-physical linked content

• Initiation of new IP collaborations

2025 Q4

• Official launch of Baby Shark Party metaverse

• TGE and token listing to secure liquidity and governance

• Major UGC update including creator tools and marketplace

• Additional brand collaborations via limited edition NFT + physical bundles

D.9 Resource Allocation:

We have secured a total of $1.57M through contributions from our founding executives and employees, and an additional $1.43M through our Seed round at a $34M valuation, with investors including Sui, GM Ventures, Comma3 Ventures, CTC, Alphanonce, Credit Scend, Planetarium, Nueler, Notch Ventures, Animoca Brands, and X+ Ventures.

D.10 Planned Use of Collected Funds or Crypto-Assets:
-Human Resources: Expansion of the core team by converting key talent into full-time employees, while continuing collaboration with external partners to enhance development and creative output.
-Operational Expenses: Covering ongoing monthly and annual operating costs, including infrastructure, development, compliance, and marketing expenditures.
-Business Development & Marketing: Advancing business development initiatives and internalizing marketing capabilities to strengthen brand positioning and user engagement.
-Ecosystem Growth: Accelerating user acquisition, optimizing partner onboarding, and expanding the ecosystem foundation through product enhancements and new service integrations.

E. Information about the Admission to Trading

E.1 Public Offering or Admission to trading: ATTR
E.2 Reasons for Public Offer or Admission to trading: The purpose of the public offering and listing is to ensure the seamless delivery of our services and to create a borderless, global user environment by connecting diverse content through a single, integrated token. This enables users to access a variety of content and services with a single asset, fostering the continuous growth and expansion of the ecosystem.
E.3 Fundraising Target: N/A
E.4 Minimum Subscription Goals: N/A
E.5 Maximum Subscription Goal: N/A
E.6 Oversubscription Acceptance: N/A
E.7 Oversubscription Allocation: N/A
E.8 Issue Price: N/A
E.9 Official currency or any other crypto- assets determining the issue price: N/A
E.10 Subscription fee: N/A
E.11 Offer Price Determination Method: N/A
E.12 Total Number of Offered/Traded Crypto- Assets: 850000000
E.13 Targeted Holders: ALL
E.14 Holder restrictions: There are restrictions on OFAC-sanctioned countries on the front-end page where the service is provided.
E.16 Refund Mechanism: N/A
E.17 Refund Timeline: N/A
E.18 Offer Phases: N/A
E.19 Early Purchase Discount: N/A
E.20 Time-limited offer: N/A
E.21 Subscription period beginning: N/A
E.22 Subscription period end: N/A
E.23 Safeguarding Arrangements for Offered Funds/Crypto-Assets: N/A
E.24 Payment Methods for Crypto-Asset Purchase: Payments may be made in supported cryptocurrencies (e.g., USDT, USDC, ETH) and, where applicable, via fiat currency through approved payment channels.
E.25 Value Transfer Methods for Reimbursement: N/A
E.26 Right of Withdrawal: N/A
E.27 Transfer of Purchased Crypto-Assets: N/A
E.28 Transfer Time Schedule: N/A
E.29 Purchaser's Technical Requirements: The purchasers must abide by the terms and conditions set forth by the trading platform where they obtain the tokens. They must also be able to hold BEP-20 tokens.
E.30 Crypto-asset service provider (CASP) name: N/A
E.31 CASP identifier: N/A
E.32 Placement form: N/A
E.33 Trading Platforms name: Payward Europe Solutions Limited (Kraken)
E.34 Trading Platforms Market Identifier Code (MIC): PGSL
E.35 Trading Platforms Access: BSU is available on a number of centralized and decentralized trading platforms worldwide. Investors can access the trading platforms by creating accounts with the respective platforms and abiding by each platform’s requirements, including appropriate KYC processes.
E.36 Involved costs: Different platforms might charge different fees for accessing the platform or conducting trades.
E.37 Offer Expenses: N/A
E.38 Conflicts of Interest: N/A
E.39 Applicable law: BSU is a globally operated decentralized token and is not governed by any specific national law or jurisdiction. The BSU token exists on the blockchain, and there are no legally binding contractual structures, such as investment contracts or debt instruments, attached to the token.
E.40 Competent court: BSU is a crypto-asset on the blockchain, and there are no specific competent courts designated for disputes related to the token itself. For the purposes of this whitepaper, legal matters arising in relation to its content fall under the competent courts of the Virgin Islands, unless otherwise required by mandatory provisions of applicable consumer protection or private international law.

F. Information about the Crypto-Assets

F.1 Crypto-Asset Type: BSU tokens are considered as crypto-assets other than EMTs and ARTs under Regulation (EU) 2023/1114. BSU tokens are fungible utility tokens.
F.2 Crypto-Asset Functionality:

Our integrated entertainment universe is powered by our IP, with our token acting as the connective tissue that binds every experience together. The token's primary function is to unlock premium content within our services, grant access to exclusive events, and serve as the medium to obtain digital goods.

Specifically, it is the core in-game utility for acquiring items in our gaming world, the medium required to mint new creations in the metaverse, and the key to access exclusive NFT-gated content. Through these versatile applications, the token is an essential part of our entertainment ecosystem.

F.3 Planned Application of Functionalities:

All features are currently available and were released in an event format.
The official version is scheduled to launch in December.

F.4 Type of white paper: OTHR
F.5 The type of submission: NEWT
F.6 Crypto-Asset Characteristics:

· Token name: Baby Shark Universe Token

· Ticker: BSU

· Max Supply: 850,000,000

· Decimal: 18

· Token Type: BEP-20

· Token Contract: 0x1aecab957bad4c6e36dd29c3d3bb470c4c29768a

· Role : [BEP-20] -based utility tokens

· How to acquire: New content play, UGC content reward, Participate event

F.7 Commercial name or trading name: BSU
F.8 Website of the issuer: https://babysharkuniverse.io/
F.9 Starting date of offer to the public or admission to trading: 2025-10-06
F.10 Publication date: 2025-10-06
F.11 Any other services provided by the issuer: N/A
F.12 Language or languages of the white paper: 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: N/A
F.14 Functionally Fungible Group Digital Token Identifier, where available: N/A
F.15 Voluntary data flag: false
F.16 Personal data flag: true
F.17 LEI eligibility: true
F.18 Home Member State: IE
F.19 Host Member States: AT, BE, BG, HR, CY, CZ, DK, EE, FI, FR, DE, EL, HU, IS, IT, LI, LV, LT, LU, MT, NL, NO, PL, PT, RO, SK, SI, ES, SE

G. Information on the rights and obligations attached to the crypto-assets

G.1 Purchaser Rights and Obligations: Purchasers have no additional rights and obligations other than ownership of the crypto-asset.
G.2 Exercise of Rights and obligations: N/A
G.3 Conditions for modifications of rights and obligations: The BSUNIVERSE Foundation is not able to modify any rights and obligations of the BSU Token.
G.4 Future Public Offers: Public offers of the crypto-asset are currently not being contemplated.
G.5 Issuer Retained Crypto-Assets: 153,000,000
G.6 Utility Token Classification: true
G.7 Key Features of Goods/Services of Utility Tokens:
1. In-Game Currency: Used for purchasing items, upgrades, and participating in special events
2. NFT Minting: Enables creation of Baby Shark NFT stickers and in-game items
3. Staking Rewards: Token holders can earn rewards through staking
4. Governance: Participate in voting on major ecosystem decisions
5. Physical Product Redemption: NFTs can be exchanged for real Baby Shark merchandise
G.8 Utility Tokens Redemption: They can be used to access paid services within the platform or to participate in events to obtain merchandise.
G.9 Non-Trading request: true
G.10 Crypto-Assets purchase or sale modalities: N/A
G.11 Crypto-Assets Transfer Restrictions: N/A
G.12 Supply Adjustment Protocols: false
G.13 Supply Adjustment Mechanisms: N/A
G.14 Token Value Protection Schemes: false
G.15 Token Value Protection Schemes Description: N/A
G.16 Compensation Schemes: false
G.17 Compensation Schemes Description: N/A
G.18 Applicable law:

BSU is a globally operated decentralized token and is not governed by any specific national law or jurisdiction. The BSU token exists on the blockchain, and there are no legally binding contractual structures, such as investment contracts or debt instruments, attached to the token.

G.19 Competent court: BSU is a crypto-asset on the blockchain, and there are no specific competent courts designated for disputes related to the token itself. For the purposes of this whitepaper, legal matters arising in relation to its content fall under the competent courts of the Virgin Islands, unless otherwise required by mandatory provisions of applicable consumer protection or private international law.

H. Information on the Underlying Technology

H.1 Distributed ledger technology:

The BSU Token is a crypto-asset that operates on the BNB Chain, a high-performance distributed ledger technology (DLT). The BNB Chain is designed for efficiency and scalability, enabling fast and low-cost transactions. This core infrastructure was chosen because its performance is essential for the token's intended use cases, which require frequent and affordable on-chain interactions.

H.2 Protocols and technical standards:

The BNB Chain is a blockchain network that validates transactions through the Proof-of-Staked-Authority consensus mechanism.
Its ecosystem is composed of three key components:

BNB Smart Chain (BSC): The core platform where smart contracts are executed. It is fully compatible with Ethereum, making it easy for developers to build decentralized applications (dApps).
opBNB: A layer-2 scaling solution for the BNB Chain that enables higher transaction throughput at lower costs, while still relying on the security of BSC.
BNB Greenfield: A decentralized storage infrastructure that provides data management solutions and integrates with traditional Web2 applications.

H.3 Technology Used:

The BSU Token is specifically implemented as a smart contract adhering to the BEP-20 technical standard on the BNB Smart Chain (BSC). BEP-20 is a token standard that extends Ethereum's widely adopted ERC-20, ensuring full compatibility with the Ethereum Virtual Machine (EVM). Adopting this specific standard provides several key advantages:
Interoperability: The BEP-20 standard allows the BSU Token to seamlessly interact with a wide range of decentralized applications (dApps), wallets, and exchanges within the BNB Chain ecosystem.
Efficiency: It inherits the high speed and low transaction fees of the BSC network, making it practical for high-frequency use cases like gaming and digital content interaction.
Developer Friendliness: Its compatibility with ERC-20 enables developers to use familiar, industry-standard tools and programming languages to build and integrate smart contracts that interact with the BSU Token.

H.4 Consensus Mechanism:

The BNB Chain uses a consensus model called Proof-of-Staked Authority (PoSA), which blends features of both Proof-of-Stake (PoS) and Proof-of-Authority (PoA). In this system, block producers are chosen from a limited validator pool according to the amount of BNB they have committed and their standing within the network. At any given moment, 21 validators are responsible for validating transactions and generating blocks, taking turns in the process. The group of active validators is refreshed on a regular basis, and their performance is constantly reviewed to maintain the network’s security and stability.

H.5 Incentive Mechanisms and Applicable Fees:

Validators earn rewards through the transaction fees included in the blocks they confirm. In contrast to many other protocols, BNB does not have an inflationary model, so no newly-minted BNB is distributed as block subsidies.

H.6 Use of Distributed Ledger Technology: false
H.7 DLT Functionality Description: N/A
H.8 Audit: true
H.9 Audit outcome:

The outcome of the technology audit over the BSU token was that the audit reviewed all aspects related to the compatibility of the BEP20 specification and other known BEP20 pitfalls/vulnerabilities and no issues were identified. The audit was conducted on Ethereum, but we have since migrated to BSC. The code is exactly the same as on Ethereum. Audit Report

I. Information on Risks

I.1 Offer-Related Risks: The listing of BSU tokens on trading platforms carries very limited risk, as the entire supply has already been issued and is in active circulation. Since BSU tokens are neither ARTs nor EMTs, there are no asset reserves, financial exposures, or liabilities that require management. The key potential risk is that certain trading platforms, for their own internal reasons, may choose not to approve the listing of BSU tokens.
I.2 Issuer-Related Risks:
• Issuer may face financial difficulties
• Management or governance issues may arise
• Legal or regulatory problems could occur
• Dependence on key personnel or partners
• Negative reputation may impact the project
I.3 Crypto-Assets-related Risks:

Market Volatility
Crypto-asset prices are highly susceptible to dramatic fluctuations influenced by various factors, including market sentiment, regulatory changes, technological advancements, and macroeconomic conditions. These fluctuations can result in significant financial gains or losses within short periods, making the market highly unpredictable and challenging for investors.

Liquidity Challenges
Some crypto-assets may suffer from limited liquidity, which can present difficulties when executing large trades without significantly impacting market prices. This lack of liquidity can lead to substantial financial losses, particularly during periods of rapid market movements when selling assets may become challenging or require accepting unfavorable prices.

Asset Security
Crypto-assets face unique security threats, including the risk of theft from exchanges or digital wallets, loss of private keys, and potential failures of custodial services. Since crypto transactions are generally irreversible, any security breach or mismanagement can result in the permanent loss of assets, emphasizing the importance of strong security measures and practices.

Smart Contract Vulnerabilities
Many crypto-assets rely on smart contracts to automate processes, but these contracts are not immune to risks. Bugs, coding errors, or vulnerabilities within the smart contract code can be exploited by malicious actors, potentially leading to asset loss, unauthorized data access, or unintended operational consequences.

Privacy Concerns
All transaction details on the Ethereum blockchain are permanently recorded and publicly accessible, which can potentially expose user activities. Although addresses are pseudonymous, the transparent and immutable nature of the blockchain allows for advanced forensic analysis and intelligence gathering. This level of transparency can make it possible to link blockchain addresses to real-world identities over time, compromising user privacy.

Regulatory Uncertainty
The regulatory environment surrounding crypto-assets is constantly evolving, which can directly impact their usage, valuation, and legal status. Changes in regulatory frameworks may introduce new requirements related to consumer protection, taxation, and anti-money laundering compliance, creating uncertainty and potential challenges for investors and businesses operating in the crypto space.

Counterparty Risk
Engaging in agreements or storing crypto-assets on exchanges introduces counterparty risks, including the failure of the other party to fulfill their obligations. Investors may face potential losses due to factors such as insolvency, regulatory non-compliance, or fraudulent activities by counterparties, highlighting the need for careful due diligence when engaging with third parties.

Reputational Concerns
The crypto-asset space has been associated with various negative events, including scams, hacks, and market manipulation, which can impact the overall reputation of the industry. This negative perception may affect the adoption and acceptance of crypto-assets, potentially influencing their long-term value and utility.

Technological Risks
Crypto-assets are built on complex technological foundations that may face challenges such as scalability limitations, network congestion, and potential technical failures. These technological issues can impact the performance, usability, and reliability of crypto-assets, potentially affecting their value and functionality.

Operational Risks
The management and operation of crypto-asset projects involve various risks, including key personnel dependencies, operational failures, and inadequate internal controls. These risks can impact the successful development, maintenance, and growth of crypto-asset projects, potentially affecting their long-term viability and success.

I.4 Project Implementation-Related Risks:

The risks related to the implementation of BSU's content services are minimal, as the core service framework has already been established. The primary potential risk lies in trading platforms potentially declining to support BSU tokens for internal reasons. In addition, there is a possibility that certain planned marketing collaborations or content partnerships may not materialize.

I.5 Technology-Related Risks:

Private Key Management
The security of crypto-assets heavily depends on the effective management of private keys, which serve as the only means to access and control digital funds. Losing a private key or engaging in poor security practices, such as sharing or storing keys insecurely, can result in the irreversible loss of assets. Additionally, theft or unauthorized access to private keys can lead to the permanent loss of assets, emphasizing the importance of strong security measures and practices.

Transaction Finality
Blockchain transactions achieve finality probabilistically, meaning their security increases as more blocks are confirmed. However, theoretical risks of transaction reversals exist, particularly in cases of blockchain reorganizations or consensus attacks. Furthermore, transactions sent to incorrect or unintended addresses are typically irreversible, making it crucial for users to double-check addresses and transaction details before execution.

Scalability Issues
As blockchain networks experience increased adoption and usage, scalability challenges can arise. A higher number of transactions can lead to network congestion, resulting in increased transaction fees, slower confirmation times, and reduced usability. Solutions such as layer-2 scaling technologies and blockchain sharding are being explored to address these concerns, but scalability remains a fundamental challenge for widespread adoption.

Network Sustainability
For a blockchain network to remain sustainable, it must maintain sufficient transaction volume to ensure economic viability. This volume is necessary to incentivize validators or miners, support network security, and sustain overall operations. If transaction activity declines significantly, the network may face economic challenges, leading to protocol changes or, in extreme cases, network obsolescence due to a lack of participants and security contributors.

Cybersecurity Threats
Blockchain networks are vulnerable to various cybersecurity threats that can compromise their operations and data integrity. Potential attacks include 51% attacks, where a single entity gains majority control over the network, Sybil attacks, where attackers create multiple fake identities to manipulate the network, and DDoS attacks, which can overwhelm nodes and disrupt network functionality. Mitigating these threats requires robust security protocols and decentralized network structures.

Consensus Failures
Issues with a blockchain's consensus mechanism can lead to serious disruptions such as network forks, operational halts, and a loss of trust among participants. Forks can result in duplicate transactions or diverging ledger states, causing confusion and potential financial losses. Ensuring a well-designed consensus algorithm and timely upgrades is essential to maintaining network stability and integrity.

Protocol Vulnerabilities
Undetected bugs and flaws within a blockchain's core protocol code pose significant risks, including network disruption, balance manipulation, and potential exploits by malicious actors. Continuous code audits, rigorous testing, and the implementation of bug bounty programs help identify and mitigate such vulnerabilities before they can be exploited.

Smart Contract Risks
Smart contracts, while offering automation and efficiency, introduce risks stemming from coding flaws, misconfigurations, and unintended logic vulnerabilities. Exploitable weaknesses in smart contracts can lead to asset loss, unauthorized access to sensitive data, and broader network vulnerabilities. Thorough audits and security best practices are essential to minimize these risks.

Infrastructure Dependencies
Blockchain networks depend on various underlying infrastructures such as internet connectivity, cloud services, and hardware systems, which may themselves be susceptible to attacks, outages, or external interference. Any disruption in these critical dependencies can compromise the accessibility and reliability of blockchain services, emphasizing the need for decentralized and resilient infrastructure solutions.

Technological Obsolescence
As technology evolves, blockchain systems face the risk of becoming obsolete. Emerging innovations, such as quantum computing, could potentially break current cryptographic encryption standards, rendering blockchain networks insecure. To remain resilient, continuous advancements in cryptographic techniques and blockchain protocols must be pursued to address evolving threats.

Governance Challenges
The decentralized nature of blockchain networks can present governance challenges, particularly when it comes to decision-making and issue resolution. Ineffective governance models may result in delays in addressing critical network concerns, instability, and even centralization of power among a small group of stakeholders. Transparent, inclusive, and well-structured governance frameworks are necessary to support long-term sustainability.

Data Integrity
Maintaining the integrity of blockchain data is critical to its reliability and trustworthiness. Bugs, errors, or malicious tampering with transaction data can undermine the accuracy and consistency of the ledger, potentially leading to financial and operational risks. Mechanisms such as data verification, redundancy, and integrity checks are essential to safeguarding the blockchain against corruption.

Third-Party Risks
The reliance on external service providers, such as cryptocurrency exchanges, wallet providers, and custodial services, introduces additional layers of risk. These third parties may be susceptible to security breaches, operational failures, and regulatory non-compliance, which could impact users' assets and overall market stability. Due diligence and choosing reputable service providers are essential to mitigating such risks.

I.6 Mitigation measures:

Smart Contract Vulnerabilities
The BSU token contract has been audited and no critical, high, or medium-level risks were identified. The BSU token contract is open source and available for public review. Since all BSU tokens have been issued and the ownership of the contract has been renounced, BSUNIVERSE PTE. LTD. cannot prevent risks related to smart contract vulnerabilities arising from services provided by third parties.

Regulatory Uncertainty
BSUNIVERSE PTE. LTD. continuously monitors legal and regulatory developments and works to ensure that BSU tokens remain in compliance with all applicable laws and regulations.

Blockchain Related Risks
While acknowledging that all blockchains face risks, BSU tokens are built on the BNB Chain, which is recognized for its security, scalability, and resilience. With a limited but reliable validator set under the Proof-of-Staked-Authority (PoSA) consensus, risks related to consensus failures and cybersecurity threats are considered minimal.

Risks Related to Project Implementation and Admission to Trading
BSUNIVERSE PTE. LTD. cannot guarantee the listing of BSU tokens on specific trading platforms. However, it will take all necessary measures to pursue listings on targeted platforms while upholding the highest standards of integrity and professionalism.

J. Information on the sustainability indicators in relation to adverse impact on the climate and other environment-related adverse impacts

S.1 Name: BSUNIVERSE PTE. LTD.
S.2 Relevant legal entity identifier: N/A
S.3 Name of the crypto-asset: Baby Shark Universe Token
S.4 Consensus Mechanism:

The BNB Chain uses a consensus model called Proof-of-Staked Authority (PoSA), which blends features of both Proof-of-Stake (PoS) and Proof-of-Authority (PoA). In this system, block producers are chosen from a limited validator pool according to the amount of BNB they have committed and their standing within the network. At any given moment, 21 validators are responsible for validating transactions and generating blocks, taking turns in the process. The group of active validators is refreshed on a regular basis, and their performance is constantly reviewed to maintain the network’s security and stability.

S.5 Incentive Mechanisms and Applicable Fees:

Validators earn rewards through the transaction fees included in the blocks they confirm. In contrast to many other protocols, BNB does not have an inflationary model, so no newly-minted BNB is distributed as block subsidies.

S.6 Beginning of the period to which the disclosure relates: 2025-09-24
S.7 End of the period to which the disclosure relates: 2025-09-11
S.8 Energy consumption: 600 kWh/year (estimated)
S.9 Energy consumption sources and methodologies:
The energy consumption of this asset is aggregated from multiple components. To determine the token's energy consumption, we first calculate the energy consumption of the underlying network, the BNB Chain. Then, a portion of the BNB Chain's total energy consumption is allocated to this token in proportion to its activity (based on the total number of transactions) within the network.
When calculating energy consumption, we use the Functionally Fungible Group Digital Token Identifier (FFG DTI), where available, to capture all implementations of the in-scope asset. This mapping information is regularly updated based on data from the Digital Token Identifier Foundation.
Information regarding the hardware and the number of participants on the BNB Chain is based on best-effort, validated assumptions using empirical data. It is generally assumed that participants are economically rational. In line with the precautionary principle, assumptions are set conservatively in cases of uncertainty. This is to ensure caution by using higher estimates for potential negative impacts.