MiCA Whitepaper
1
Date of notification
2025-10-20
2
Statement in accordancewith Article 6(3) ofRegulation (EU) 2023/1114
This crypto-asset white paper has not been approved by anycompetent authority in any Member State of the EuropeanUnion. The person seeking admission to trading of thecrypto-asset is solely responsible for the content of thiscrypto-asset white paper.
3
Compliance statement inaccordance with Article6(6) of Regulation (EU)2023/1114
This crypto-asset white paper complies with Title II ofRegulation (EU) 2023/1114 and, to the best of the know ledgeof the management body, 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 toaffect its import.
4
Statement in accordancewith Article 6(5), points(a), (b), (c) of Regulation(EU) 2023/1114
The crypto-asset referred to in this crypto-asset white paper may lose its value in part or in full, may not always be transferable and may not be liquid.
5
Statement in accordancewith Article 6(5), point (d)of Regulation (EU)2023/1114
FALSE
6
Statement in accordancewith Article 6(5), points (e)and (f) of Regulation (EU)2023/1114
The crypto-asset referred to in this white paper is notcovered by the investor compensation schemes underDirective 97/9/EC of the European Parliament and of theCouncil or the deposit guarantee schemes under Directive2014/49/EU of the European Parliament and of the Council.
7
Warning in accordancewith Article 6(7), secondsubparagraph ofRegulation (EU) 2023/1114
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 whitepaper 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 or any other offer document pursuant to Union or national law.
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 whitepaper 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 or any other offer document pursuant to Union or national law.
8
Characteristics of the crypto-asset
DRONE (the 'Token') will be launched on Base Layer 2 ('Base')to serve as the native token of LayerDrone Protocol (the'Protocol'), a geospatial drone data capture and distribution protocol built on Base. The Token will serve as the primary medium of exchange within the Protocol's decentralised network of drone operators and data buyers.
The Token will be used to compensate drone pilots when they complete verified data capture missions by submitting verified aerial imagery. Data buyers will use the Token to buy imagery from the Protocol or through Value-AddedProviders ('VAPs'). Additionally, drone pilots will be able to deposit the Token to reserve future flights or gain access to missions requested by the Protocol.
Token holders may potentially participate in the Protocol's governance. According to the Protocol's documentation, Token holders could be able to influence the Protocol's trajectory through governance participation, but how the governance will work in practice is yet to be defined.
Any modifications to the Token's characteristics, rights, or obligations will be implemented through protocol updates managed by LayerDrone Foundation (the 'Foundation'). Changes to the protocol and Token mechanics will be communicated through the Protocol's official channels and documentation.
The Token will be used to compensate drone pilots when they complete verified data capture missions by submitting verified aerial imagery. Data buyers will use the Token to buy imagery from the Protocol or through Value-AddedProviders ('VAPs'). Additionally, drone pilots will be able to deposit the Token to reserve future flights or gain access to missions requested by the Protocol.
Token holders may potentially participate in the Protocol's governance. According to the Protocol's documentation, Token holders could be able to influence the Protocol's trajectory through governance participation, but how the governance will work in practice is yet to be defined.
Any modifications to the Token's characteristics, rights, or obligations will be implemented through protocol updates managed by LayerDrone Foundation (the 'Foundation'). Changes to the protocol and Token mechanics will be communicated through the Protocol's official channels and documentation.
9
N/A
10
Key information about the offer to the public or admission to trading
The issuer seeks admission of the Token to trading in order to enable more individuals to obtain and use the Token so that they can contribute and participate in the Protocol, thereby creating a mutually beneficial system where every participant is fairly compensated for their efforts. Additionally, by seeking admission to trading, they aim to increase the liquidity of the Token, facilitating equity and its exchangeability. The trading platforms for which admission to trading is being sought have been delineated in part E.33 of this whitepaper.
Part A - Information about the offeror or the person seeking admission to trading
A.1
Name
LayerDrone Inc.
A.2
Legal form
Company limited by shares
A.3
Registered address
CO Services (BVI) Ltd. of Rodus Building, P.O. Box 3093, Road Town, Tortola, VG1110, British Virgin Islands.
A.4
Head office
N/A
A.5
Registration Date
2025-05-23
A.6
Legal entity identifier
N/A
A.7
Another identifier required pursuant to applicable national law
2177449
A.8
Contact telephone number
+1 345 9360807
A.9
E-mail address
sarah@marfire.com
A.10
Response Time (Days)
5
A.11
Parent Company
LayerDrone Foundation
A.12
Members of the Management body
The management body responsible for the person seeking admission to trading of the Token is the Layerdrone Foundation. The Foundation is directed solely by Ms. Sarah Wheeler, who has therefore been identified as the control person, situated at the following address: Elgin Court, Elgin Avenue, George Town, Grand Cayman, KY1-1106, Cayman Islands.
A.13
Business Activity
The person seeking admission to trading is also the issuer of the Token i.e. primarily responsible for the issuance of the DRONE token.
A.14
Parent Company Business Activity
The LayerDrone Foundation is responsible for overseeing the operations of the LayerDrone protocol.
A.15
Newly Established
TRUE
A.16
Financial condition for the past three years
N/A
A.17
Financial condition since registration
Since its establishment in 2025, LayerDrone Inc. has maintained a stable financial position supported by structured inter company funding arrangements. The Company serves as the designated token issuance entity within the LayerDrone group structure.
Funding for LayerDrone Inc. is provided by the LayerDrone Foundation, which in turn is financed through a promissory note issued by Spexi Geospatial Labs. Spexi Geospational Labs has successfully raised approximately USD 20.7 million to date, providing a robust capital base to support the development and launch of the LayerDrone Protocol.
Prior to the token generation event, operational and development expenditures are funded through this promissory note arrangement. The project's monthly operating expenses remain modest, currently averaging between USD 20,000 - 30,000 per month, ensuring a controlled burn rate relative to available resources.
Following the TGE, the LayerDrone Foundation will continue to fund LayerDrone Inc. through over-the-counter (OTC) token sales and its allocation of 4.5% of the total Drone token supply, reserved specifically to support ongoing operational activities, ecosystem development, and the expansion of the Protocol.
The overall structure, comprising a Cayman Islands foundation with a BVI subsidiary, has been established to facilitate transparent funding flows and efficient resource allocation. This setup ensures that LayerDrone Inc. maintains adequate financial resources to meet its obligations and sustain its activities in connection with the token issuance and related ecosystem development.
Funding for LayerDrone Inc. is provided by the LayerDrone Foundation, which in turn is financed through a promissory note issued by Spexi Geospatial Labs. Spexi Geospational Labs has successfully raised approximately USD 20.7 million to date, providing a robust capital base to support the development and launch of the LayerDrone Protocol.
Prior to the token generation event, operational and development expenditures are funded through this promissory note arrangement. The project's monthly operating expenses remain modest, currently averaging between USD 20,000 - 30,000 per month, ensuring a controlled burn rate relative to available resources.
Following the TGE, the LayerDrone Foundation will continue to fund LayerDrone Inc. through over-the-counter (OTC) token sales and its allocation of 4.5% of the total Drone token supply, reserved specifically to support ongoing operational activities, ecosystem development, and the expansion of the Protocol.
The overall structure, comprising a Cayman Islands foundation with a BVI subsidiary, has been established to facilitate transparent funding flows and efficient resource allocation. This setup ensures that LayerDrone Inc. maintains adequate financial resources to meet its obligations and sustain its activities in connection with the token issuance and related ecosystem development.
Part 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
FALSE
B.2
Name
N/A
B.3
Legal form
N/A
B.4
Registered address
N/A
B.5
Head office
N/A
B.6
Registration Date
N/A
B.7
Legal entity identifier
N/A
B.8
Another identifier required pursuant to applicable national law
N/A
B.9
Parent Company
N/A
B.10
Members of the Management body
N/A
B.11
Business Activity
N/A
B.12
Parent Company Business Activity
N/A
Part 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
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