Similar to Ethereum, a peer in the industry, the Coin network is now operational, live, and is open-sourced for expansion by independent developers in the community. Further growth and expansion of the network will not rely on a single source or party including the COIN XYZ, Inc. company. The power of future decisions in the network has been delegated to the network of $COIN™ token holders. The network was previously influenced by COIN XYZ, Inc.; however, is now controlled by a vast distributed global network of $COIN™ token holders. Coin XYZ, Inc. has elected to convert the $COIN™ token from a security to a utility token as it has met its previous legal obligations. Additionally, for use as a utility to support the operations of the Coin network itself. It is the economic substance of the transaction that always determines the legal analysis, and in this case, in the $COIN™ network – given its decentralized structure, current offers, and sales of $COIN™ are not securities transactions.