Lucrar
Whitepaper

00Overview

Lucrar project whitepaper, version 3. Last updated 13 September 2026. The previous full revision was 3 December 2025.

The official website is lucrar.pt. The Lucrar token (LCR) was created on 2 February 2022 and the project was officially launched on 15 April 2022. The project is operated by Cripteracia, Unipessoal, Lda. (Portugal, tax number PT516391283).

Lucrar tokens and NFTs are not securities. Transactions on them are not subject to the rules applicable to the protection of investors in securities. Nothing in this whitepaper is a solicitation to buy LCR. Do not buy the token unless you use it.

The project in one paragraph

Lucrar.pt is a Portuguese platform for personal finance and investing education, built on passive income. The company behind it earns rent from housing (a building with 40 rented rooms), publishes its results every quarter, and uses the platform to teach: free videos and articles, calculators and tools, a members area on Patreon, courses, and a financial game, Aldeia Lucrar, where people learn by answering questions. LCR is the utility token of that platform: it opens content and features, and members earn it by playing and by taking part in monthly challenges. It gives no right to income, no vote in the company and no claim on any asset.

What is in this document

• The project in 2026: what Lucrar is today, every use of LCR, the game, how the portal, Patreon, the courses, the game and the token fit together, the housing and the rents, transparency, the NFT collection, partners and the roadmap.
• Tokenomics (LCR): supply, release mechanics, wallets, liquidity, the on-chain state as of September 2026, and the on-chain economy the project is building, which is not live yet.
• Company and regulation: the company, the regulators' positions (CMVM, Bank of Portugal, MiCA), security measures, the trademark and every change since launch.
• Disclaimer.

Everything that was planned in 2022 and did not happen has been removed from this document; the history is in "Changes since launch". Who runs the project is on lucrar.pt/team and lucrar.pt/about-en.

01What Lucrar is

Lucrar.pt is a Portuguese platform for personal finance and investing education, built on passive income. The idea is simple: the company earns recurring income from housing it rents out, publishes what it earns, and spends its effort teaching people to manage and invest their own money. Financial education is the foundation for avoiding mistakes and reaching financial goals, and the project tries to deliver it by as many methods as possible.

The project started in 2018 as a YouTube channel ("Workolic") and a free course on how to earn and invest without starting capital. In 2021 it became a company, Cripteracia, Unipessoal, Lda. In 2022 it launched a utility token, LCR, and an NFT collection. Since 2023 the company has bought and built housing. In 2026 the platform gained a members area, courses, an access portal and a financial game, all tied to the same account and the same token.

The mission

The initiative began with a petition to teach financial education in Portuguese public schools. It did not reach enough signatures. The company took the mission on itself: 10% of its results, after common expenses, go to a fund to hire financial educators and teach a curriculum to young people and adults. The percentage can change whenever necessary and is published on the company information page.

What the platform offers

Free education. More than 400 free videos on the Workolic channel, followed by more than 170,000 people, organised by method: early retirement, dividends, crypto, market news, ETFs, REITs, emerging markets, companies, personal finance and real estate. On the website: financial articles written to a published editorial policy, calculators (net salary, emergency fund, effort rate, mortgage, personal credit, inflation, compound interest, FIRE, PPR, fund fees, capital gains tax and more), broker comparisons written to a neutrality rule, and tools.

The game. Aldeia Lucrar is a village where you learn by answering questions on stocks, crypto, personal finance and funds. It runs in the browser, it is free, and it is the front door of the platform. See "Aldeia Lucrar: the game".

Members area (Patreon). Three paid plans that unlock files, spreadsheets, calculators and private groups, a step-by-step learning path, the game linked to the member's account, and a monthly challenge rewarded in LCR. See "How it all connects".

Courses. Paid courses hosted on lucrar.pt, opened with the buyer's email. The first is "AI applied to advanced investing".

Housing and rents. The company operates housing that it rents out. A building with 40 rooms, rented, is its main source of recurring income; that income goes into the company's results, which are published every quarter from December 2026. It also completed one apartment in Setúbal (2025) and holds land for six apartments in Montijo. See "Real estate and rents".

The token. LCR opens content and features on the platform (folders of off-plan projects, the transaction register, events) and is the reward currency of the members area. See "Utility of LCR".

Community and events. A community of more than 1,100 paying members, individual consulting sessions with a CMVM-registered analyst, and public events (the first, for NFT holders, took place in 2023).

What Lucrar is not

• It is not an investment firm and it does not provide investment services. The CMVM registration is personal, held by the founder as an independent financial analyst.
• It does not hold custody of anyone's crypto assets. The website never stores tokens; wallets are only read to check balances.
• It does not sell LCR to the public and has never done so. There was no pre-sale, private sale or public sale.
• It does not promise returns. Nothing on the platform is personalised financial advice.

Who runs the project: lucrar.pt/team and lucrar.pt/about-en.

02Utility of LCR

LCR is a utility token. Its only purpose is to be used inside the Lucrar project. It gives no right to income, dividends or interest, no vote in the company, no share of any asset, and no promise that its value will rise.

Do not buy the token unless you use it. That sentence is on the homepage on purpose.

Everything LCR does today (September 2026)

Reward of the game and of the members area. Members of the Patreon plans earn LCR by playing Aldeia Lucrar, up to 40 LCR per member per month, and by taking part in the monthly challenge, whose prize goes from 10 to 200 LCR depending on the plan. The LCR earned is credited to the member's balance in the members area, with a statement of every movement. The game itself never touches a wallet: no transaction is sent from it, and nobody needs to own LCR to play.

Access to off-plan real estate projects. Anyone holding at least 1,000 LCR can open the monthly folder of off-plan developments ("Projetos em planta") on lucrar.pt. Since September 2025 the company has published 58 teasers, in PDF, one folder per month, selected by its asset analysis team. The tokens are not spent or transferred: the wallet is connected and only the balance is read.

Access to the company's transaction register. Anyone holding at least 10 LCR can open the public register of every company movement with the token: the initial liquidity and each purchase of LCR by the company, with a link to each transaction on BscScan.

Tools. The tools area of the website (calculators, comparisons, simulators) is part of the platform the token opens.

Events. LCR and the project's NFTs were the ticket to the 2023 financial education event. Future events follow the same model.

Payments to contributors. Writers who publish approved articles on the website are compensated in LCR.

Lucrar Pass NFTs. The 2022 collection was minted with LCR. Current holders are being given new uses inside the platform (see Lucrar Pass NFTs).

How to get LCR

• By using the platform. Members earn LCR in the game and in the monthly challenges. This is the way the project prefers: LCR should reach the people who use it.
• PancakeSwap (BNB Smart Chain), pair LCR/WBNB. This is the only market. The company has never listed the token on a centralised exchange.
• The swap on lucrar.pt. The homepage has a non-custodial swap window that trades BNB for LCR and LCR for BNB directly through PancakeSwap, with your own wallet. Anyone without BNB can buy it with a card through an on-ramp partner (Onramper) inside the same window; the partner sells the BNB, not the company.
• The company never sells LCR from its main wallet. It has never sold a token since the project began.

The company and the token

The company holds LCR in public cold wallets, adds liquidity, and has bought LCR on the open market twice (4 December 2025 and 27 February 2026, EUR 1,000 each). Each movement is listed in the transaction register with its BscScan link. These are decisions of the company about its own money, disclosed after the fact. They are not a right of LCR holders, they are not an obligation, and they can stop. The CMVM analysis of April 2022 (see Regulation) was based precisely on LCR having no right to income and no obligation on the issuer to act to raise its price. The company keeps it that way.

What LCR does not do

• No staking, no deposits with interest, no burn, no mint. All of these existed in the 2021 beta and were removed before launch to comply with the CMVM analysis. The economy described in Tokenomics does not bring any of them back: LCR spent on the platform will go to a lock contract that cannot pay out, which is not a burn and does not change the total supply.
• No NFT marketplace. The company's own marketplace, planned in 2022, was never built. The NFT collection is closed (see Lucrar Pass NFTs).
• No share of any property or rent. Holding LCR gives no participation in the company's housing or in its results.

03Aldeia Lucrar: the game

Aldeia Lucrar ("Lucrar Village") is the project's financial game. It opens from the homepage of lucrar.pt and from the members area, runs in any browser without installing anything, and is free. It replaced the 2022 quiz game, which was a 50 MB download built on a Unity template and asked for a wallet before the first question; the village asks for nothing and lets you play first.

How it is played

The village is a small isometric world seen from above. You walk your character through it; each zone of the village is a theme, so walking into a zone is choosing what you want to learn:

• Bolsa (stock exchange): stocks and companies.
• Praça Cripto (crypto square): crypto and blockchain.
• Banco (bank): personal finance.
• Mercado (market): funds and ETFs.

In each zone you answer multiple-choice questions. After every answer the game explains why the correct answer is correct, in one or two lines. That explanation is the point: this is a financial literacy game, not a trivia game. The bank of questions has around 600 questions in Portuguese and 600 in English, reviewed and classified by difficulty, and grows over time.

Progress

• Levels and characters. Answering correctly gives "intelligence" points. Your character grows through three visual stages (young, adult, veteran) as you level up. There are eight characters, four available from the start and four unlocked as you climb.
• Five floors. The village is the first floor. Below it are Raízes, Cavernas de Cristal, A Forja and O Núcleo, each with its own look, its own inhabitants and its own zones, unlocked at levels 8, 18, 30 and 45. The level cap is 50.
• Energy. Each question costs one unit of energy. Energy refills every night, starts at 18 units and grows with your level up to 40. Daily challenges and duels cost no energy.
• The School. From level 2, a round made only of the questions you got wrong. The best way to learn is to see your mistakes again.
• Daily challenge. Ten questions, the same for everyone that day, once a day.
• Weekly board. A ranking that adds up points since Monday, for players who have chosen a name.
• Duels. You can challenge a friend by sending a link; both answer the same questions and compare scores.
• Accounts. Progress is saved to an email account, so it follows you from phone to computer.

The game and the token

The game is free and never asks for a wallet. LCR enters in one place only: members of the Patreon plans who play through the members area earn LCR for their progress, up to a monthly cap, and the monthly challenge awards LCR to its winner. The members area shows the member's character, level, LCR balance and statement side by side. Nothing in the game sends a blockchain transaction.

What is next for the game

The order of work is: first what works with one player, then what needs many. On the list: explanations for every one of the older questions, more questions written from the founder's own material after his review, weekly leagues (Bronze, Silver, Gold, Diamond) that reset on Monday, more game modes (against the clock, survival), a home of your own inside the village, and, when there are enough players online at the same time, seeing other players move and live duels. Any new way of earning LCR in the game is announced before it exists.

04How it all connects

The project has several doors: the free content, the game, the members area on Patreon, the courses, the investor area and the token. They are one platform, not separate products. This page explains how they fit together.

The portal: one entrance

lucrar.pt/portal is the single entrance to everything reserved. It asks one question, "where do you want to go?", and offers four doors:

• I am on Patreon: the members area, with the materials and benefits of the member's plan.
• I bought a course: the courses bought, opened with the buyer's email.
• I am an exclusive investor: the private investor area, for the named investors who have contracts with the company (see Real estate and rents). It is not open to the public and it has nothing to do with the token.
• I am on the Workolic team: the internal dashboard of the team.

The members area and the courses are opened with an email address and a one-time code sent to it. No wallet is involved in any of the doors.

The members area (Patreon)

The Patreon has three paid plans. The free tier is everything public: the YouTube channel and the open pages of the website. Each plan unlocks a cumulative set of resources, so a member of the third plan sees everything the first and second include:

• Tools: files, spreadsheets, calculators and private groups (a discussion group and a real estate group) included in the plan.
• How to start: a learning path by levels, from organising money to investing to choosing a strategy, step by step.
• Monthly challenge: once a month the member submits a screenshot with a short explanation of what it shows; the winner of the month receives a prize in LCR, from 10 to 200 LCR depending on the plan.

The members area is gamified. Opening a step of the path, using a tool for the first time and coming back every day give points and levels, from "Curious" upwards. The member's character from Aldeia Lucrar appears in the members area, and the "Play in the village" button opens the game already signed in.

Where the token enters

The members area keeps an LCR balance for each member. It grows in two ways: by playing Aldeia Lucrar through the members area, up to a monthly cap ("the maximum the village gives this month"), and by winning the monthly challenge. Every movement is listed in a statement. This is how most people in the project come to hold LCR: by using the platform, not by buying.

Holding LCR in a wallet, in turn, opens the parts of the website that are gated by balance: the monthly folder of off-plan real estate projects (1,000 LCR) and the company's transaction register (10 LCR). The wallet is read, never charged.

The courses

Courses are paid once and hosted on lucrar.pt, with lessons and topics inside the platform. The first is "AI applied to advanced investing", with a waiting list at a discount before it opens. Buying a course does not require LCR. Holders of Lucrar Pass NFTs are being given discounts on courses and on the members area (see Lucrar Pass NFTs).

The content and the company

The free content brings people in: the videos, the articles, the calculators and the game. The members area and the courses are how the platform pays for its teaching. The company's own results, which come mainly from the rents of the housing it operates, are published every quarter and allocated to rubrics that include the financial education fund. The token connects the pieces: it is earned by learning, and it opens what the company publishes for the people who use the platform.

Nothing in this loop gives LCR a right to any of it. The rents belong to the company, the results are the company's, and the token is a key, not a share.

05Real estate and rents

The company earns its recurring income from housing. This is the passive income the platform is built on: rents come in every month, the company publishes what it earns, and the results fund the mission and the platform. Every project has a public page on lucrar.pt with dates and amounts as they happen.

The T46 building: 40 rooms, rented

The company's main asset in operation is a residential building, type T46, with 40 rooms let to tenants. The rents from those 40 rooms are the company's largest source of income. They go into the company's results, together with the members area, the courses and the other activities, and they appear in the quarterly financial statements published on the homepage from December 2026: balance sheet, income statement and cash-flow statement.

What the rents fund is what the company publishes: common expenses, the financial education fund (10% of results), the reserve, research and development, the platform, marketing and cash. The allocation is decided by the company, published after the fact, and can change. It is not a promise to anyone and it is not attached to the token.

Setúbal: completed

One apartment in a new building.

• 24 January 2023: promissory contract (CPCV) signed, EUR 16,500.
• 29 January 2024: works started.
• 17 January 2025: deposit reinforced, EUR 16,500; formwork and masonry in progress.
• 30 July 2025: construction completed, final contract signed and fully paid, EUR 132,000.

Progress page: lucrar.pt/pt/setubal

Montijo (Pegões): in progress

Land with a permit for six apartments. The architect's design is being updated and the specialities are being approved.

• 1 July 2025: request for the synthesis plan at the Montijo urban planning department.
• 18 July 2025: land purchased, EUR 71,648.29.
• 28 July 2025: multidisciplinary firm contracted (architecture and specialities), EUR 25,676.25.
• Construction supervisor and law firm contracted; amounts to be disclosed.

Progress page: lucrar.pt/pt/pegoes

Off-plan projects for LCR holders

Since September 2025 the company publishes a monthly folder of off-plan developments across Portugal (Lisbon, Porto, Algarve, Cascais, Oeiras, Gaia and others), selected by its asset analysis team and shared as PDF teasers. Fifty-eight projects have been published in twelve months. The folder opens for anyone holding 1,000 LCR. This is information, not advice, and the company earns nothing from the developers for publishing it.

Financing and the token

Some operations are financed by the company itself and some through private contracts with individual investors, handled in the investor area of the portal with its own login. Those contracts are private, between the company and each named investor, and are not described here.

LCR has nothing to do with them. Holding LCR gives no share of any property, no share of any rent, and no participation in any financing. This separation is what keeps LCR a utility token under the CMVM analysis of 2022.

06Transparency

The project's position is simple: publish the numbers and let people check them. What follows is what is published, where, and how often.

Quarterly financial statements

From December 2026 the company publishes, every quarter, its balance sheet, income statement and cash-flow statement on the homepage of lucrar.pt. This is where the rents of the 40 rooms, the members area, the courses and every other source of income show up, and where anyone can see how the results were allocated. The first set is due in December 2026. Until then the homepage shows the three documents as "to be disclosed" with the next date.

Transaction register

Every movement of the company with LCR is listed on lucrar.pt/pt/transactions, with the date, the amount and the link to the transaction on BscScan: the initial liquidity of 15 March 2022 (81.8 BNB) and each purchase of LCR by the company (4 December 2025 and 27 February 2026, EUR 1,000 each). The page opens for anyone holding 10 LCR.

Wallets

The company's four cold wallets are public and named on the company information page and in the Security and protection page of this whitepaper. Anyone can check their balances on BscScan at any time. The on-chain state as of September 2026 is summarised in the Tokenomics section.

Real estate

Each housing project has a page with the timeline of contracts, payments and works, updated as they happen: lucrar.pt/pt/setubal and lucrar.pt/pt/pegoes.

Editorial policy

The website publishes how it earns money and how it checks numbers: lucrar.pt/politica-editorial. In short: every figure carries a date and a source; sensitive data is confirmed in two independent sources; the only affiliate relationship is disclosed; no broker pays to appear or to rank; errors are corrected and the correction is marked, not hidden.

Documents

• Token audit (Fairyproof, October 2022): lucrar.pt/wp-content/themes/lucrar-hello-child/owner/assets/pdfs/LCRToken-Audit-Report-021022.pdf
• Company information, licences and regulator letters: lucrar.pt/pt/informacoes-da-empresa
• Company policy manual (in Portuguese) and the minutes of its approval: on the same page.
• Trademark registration, INPI no. 658354.
• Team: lucrar.pt/team
• About the founder: lucrar.pt/about-en

07Lucrar Pass NFTs

The Lucrar Pass is the project's first and only NFT collection. It was sold from 22 April 2022 through a "blindbox" on the website, priced at around EUR 50 in LCR per mint. The collection is closed: the primary sale ended for good in 2023 and no new passes will be created.

Lucrar Pass NFTs are not securities. They give no right to income and no share in the company.

The collection, as it stands on chain (September 2026)

• NFT contract (BEP-721, "Lucrar Pass", symbol LCRP): 0x1770993f7513a1c2608c7c0c71828f9ccfc8b939
• Mint contract (the blindbox, paid in LCR, with the price oracle): 0xF73d48946866D30793117F1D5dA35D782c54046C. Minting is paused.
• 121 passes minted out of a maximum of 5,120. No more will be minted.
• 61 wallets hold them. Most hold one or two.
• By type: 26 Bronze, 21 Silver, 22 Gold, 24 Diamond, 28 Special. No "full extras" pass (all 10 extras) was ever minted; the maximum reached was 8 extras. Ten Fibonacci-numbered passes exist (#1, 2, 3, 5, 8, 13, 21, 34, 55, 89).
• Metadata and images are on IPFS. Secondary sales carry a 2% creator fee set in the metadata.

What holders received

In 2022 each type came with a different advantage: a private Discord channel for all, lifetime discounts on a monthly news service for Silver and Diamond, a lifetime course discount for Gold, and access to an exclusive event for Special.

In 2023 the company changed this to remove the element of luck: every Lucrar Pass, whatever its type, gave free access to the special financial education event, which had been reserved for Special passes. Holders also received LCR sent to their wallets and the courses offered. People without a pass could pay for a ticket, and all of that money was sent to those who held at least one Special pass.

Because the value delivered to holders was higher than planned, the primary sale was closed for good to avoid further cost to the company.

What holders can still expect

Current holders may still receive advantages as the project succeeds. This applies to the wallets that hold a pass today, not to people who buy one later on the secondary market. The company is defining new uses for the passes inside the platform: discounts on courses and on the members area, and use inside Aldeia Lucrar. When these are defined they will be announced on lucrar.pt and added here.

The full list of what was offered, year by year, is at lucrar.pt/pt/lucrar-pass-nfts.

What did not happen

The 2022 plan included a cross-chain NFT marketplace on lucrar.pt, a DAO in the Discord channel, and further collections licensed with large companies or celebrities. None of these was built. The passes can be traded on any marketplace that supports BNB Smart Chain BEP-721 tokens.

08Partners

Who helps bring value to the project.

Real estate

• JLL, global real-estate services and investment management company. JLL sends the project off-plan opportunities. The first apartment bought off-plan (Setúbal, completed July 2025) was promoted by JLL.
• Casas do Tejo, construction supervision.
• C&FS Advogados (imobiliarioLegal.pt), real estate lawyers.
• Penim, architecture and multidisciplinary office.

Token and infrastructure

• PancakeSwap, the decentralised exchange on BNB Smart Chain where the only LCR market exists.
• Onramper, the on-ramp partner integrated in the swap on lucrar.pt so that anyone can buy BNB with a card before swapping it for LCR. Onramper and its payment providers sell the BNB; the company never sells LCR.
• Fairyproof, the security firm that audited the LCR smart contract in October 2022.

Storage

• Elementum, gold and silver storage (Swiss vaults).
• Ledger, cryptocurrency cold storage.

Brands the founder has worked with

Through the channel and the website the founder has worked with, among others, XTB, Binance, Freedom24, Mintos, Revolut, JLL and Google. These are commercial relationships of the content side of the project, disclosed under the editorial policy, and not partners of the token.

09Who is behind the project

One project, one owner, and a name on every analysis. Lucrar.pt belongs to Cripteracia, Unipessoal, Lda., and Cripteracia belongs to Gustavo Gomes Araújo. There are no partners, no editorial committee and no collective name signing the analyses. This page says who answers for it, with what training and under which registrations. The full version, with the documents, is at lucrar.pt/about-en, and how the company is organised is at lucrar.pt/team.

Gustavo Gomes Araújo

Founder and manager of Cripteracia. Independent financial analyst registered with the CMVM, member no. 677 of APAF (the Portuguese Association of Financial Analysts), Certified European Financial Analyst (CEFA), and financial educator. Degree in Finance and Accounting, specialising in Finance, from ISCTE (IBS). Seven years studying markets, mostly equities and crypto, and a company built on top of that since 2018. Forbes 30 Under 30 Europe, Finance category, 2026.

Nothing he shares is financial advice or an investment recommendation. He shares his own path and what he has learned from it. The CMVM registration is personal; the company is not an investment firm.

Training and registrations

Every line has a year, what it is, and who issued it.

• 2026: Independent financial analyst registered with the CMVM. Member no. 677 of APAF.
• 2026: Forbes 30 Under 30, Europe, Finance category. Merit nomination, list published by Forbes.
• 2025: CEFA, Certified European Financial Analyst, with the Postgraduate in Financial Analysis completed at PBS (average of 17).
• 2023: CISI Level 3 certification, Chartered Institute for Securities & Investment.
• 2020: CFEI, Certified Financial Education Instructor, NFEC (National Financial Educators Council).
• 2018 to 2021: Degree in Finance and Accounting, specialising in Finance, ISCTE (IBS). Final average of 15, with 17 on the final business project.
• Credit and mortgage intermediation, ESAI.
• CFA Program attended; "introducer" at Abacus Wealth EU (CMVM no. 436).

How the company is run

The company was set up on 18 March 2021, while the founder was still finishing the degree, to bring every project under one roof; the token followed in 2022. Today the founder runs the whole company with a full-time executive assistant and a network of developers, editors, legal, marketing, finance and design professionals working mostly on an outsourcing basis. The organisation chart is on lucrar.pt/team.

To check for yourself

The registered trademark, the company registration, the token audit, the company policies, the Bank of Portugal letter and the record of the meeting with the CMVM are all published on lucrar.pt/pt/informacoes-da-empresa and linked from lucrar.pt/about-en. If something does not add up, write to [email protected].

10Roadmap

What is planned, in the order the company expects to deliver it. No dates are promised beyond the ones written here. Anything not on this list is not scheduled.

Done since the previous revision (December 2025)

• ✅ LCR listed on CoinGecko.
• ✅ First and second purchases of LCR by the company (4 December 2025 and 27 February 2026).
• ✅ Setúbal apartment completed (30 July 2025) and land for six apartments bought in Montijo (18 July 2025).
• ✅ Monthly folder of off-plan projects for holders of 1,000 LCR, 58 projects in twelve months.
• ✅ Aldeia Lucrar, the village game, replaced the 2022 quiz: five floors, themed zones, levels, characters, energy, the School, daily challenge and weekly board.
• ✅ Access portal (lucrar.pt/portal), members area on Patreon with an LCR balance and monthly challenges, and the first course.
• ✅ New homepage with the swap (BNB to LCR and LCR to BNB) and card on-ramp inside the site.
• ✅ Editorial policy published (31 August 2026).
• ✅ Founder registered with the CMVM as independent financial analyst and admitted to APAF (2026).

Next

• December 2026: first quarterly financial statements (balance sheet, income statement, cash-flow statement) published on the homepage. Then every quarter.
• Montijo, six apartments: approval of the updated design and specialities, then construction. Milestones and amounts are published on the project page as they happen.
• Off-plan folders: one folder per month continues, for holders of 1,000 LCR.
• Aldeia Lucrar: explanations for every question, more questions, weekly leagues, more game modes, a home of your own in the village, and live play when there are enough players. Any new way of earning LCR in the game is announced before it exists.
• Members area and courses: more courses and more materials per plan, announced on the portal.
• Lucrar Pass NFTs: new uses for existing holders inside the platform (course and community discounts, use in the games). Announced when defined.
• The on-chain economy described in Tokenomics: the payment contract, the Aldeia pass, the course contract, the prize contract and the tournament contract. First on the BSC testnet, then an external review, and only then the main network. No date is promised.
• Further purchases of LCR by the company, at its discretion, whenever results allow. Each one goes into the transaction register.

Not planned

• No sale of LCR by the company, ever, from the main wallet.
• No new edition of the 2022 Lucrar Pass collection, and no NFT sold as an investment. The Aldeia pass and the village characters described in Tokenomics are access and game items, not a collection for sale.
• No staking, interest, burn or mint.
• No custody, exchange or transfer services by the company. The swap on the website is a non-custodial interface to PancakeSwap.
• Listing on centralised exchanges is not scheduled. The objectives of 2025 (daily volume targets, applications to OKX, KuCoin, Bybit and Binance Launchpool) are no longer current.

11Tokenomics (LCR)

Lucrar tokens and NFTs are not securities. Transactions on them are not subject to the rules applicable to the protection of investors in securities.

The Lucrar token (LCR) is a BEP-20 token on BNB Smart Chain (the BEP-20 standard extends ERC-20). It was created on 2 February 2022, after several months of testing, and audited by Fairyproof in 2022 with no issues found. It is a plain BEP-20 with no transfer fee.

• Contract: 0x1510211E6DC81F5724A1BecA33C5AC70Dcca6CE0
• Network: BNB Smart Chain (chain id 56)
• Decimals: 9, not 18
• Total supply: 100,000,000 LCR
• Price on 13 September 2026: 1 LCR = 0.0001969 BNB = USD 0.143
• Liquidity of the PancakeSwap pair on the same date: about USD 338,000
• BscScan: bscscan.com/token/0x1510211e6dc81f5724a1beca33c5ac70dcca6ce0
• Market: PancakeSwap, pair LCR/WBNB 0x949292e7eb14ed1f86a33e3d38eb3aceade66ba9
• Chart: www.dextools.io/app/bsc/pair-explorer/0x949292e7eb14ed1f86a33e3d38eb3aceade66ba9
• Price reference: www.coingecko.com/en/coins/lucrar

Note for anyone integrating the token. LCR has 9 decimals. Any integration that assumes the usual 18 is wrong by a factor of one thousand million. Every contract in the ecosystem works in the token's smallest unit.

Supply

100,000,000 LCR, all minted on the day the contract was deployed. The contract has no mint and no burn function. The supply will never be more nor less than that.

Release from the contract

At deployment the company's main cold wallet (the deployer) received 20% of the supply. The remaining 80% stayed inside the contract and cannot be used. The contract has one function, releaseFunds, that only the deployer can call, and each call moves exactly 1,000,000 LCR (1% of supply) from the contract to the deployer. It was designed for one call per quarter, from April 2022, so that the full supply would take twenty years to leave the contract (April 2042).

Releases are manual. They are not automatic and they have not been made every quarter. As of September 2026, five releases have been made and 75,000,000 LCR remain inside the contract. Since 4 August 2022, every released million goes to a permanent lock contract, not to the market.

Distribution

There was no seed sale, private sale or public sale, and no allocation to the founder or the team. The project was funded by the founder. Nobody received LCR for free. The only way the token entered circulation was through the liquidity pool on PancakeSwap, where anyone, including the founder, buys at market price.

The company's team, marketing and development are paid from the company's profit, not from the LCR held by the company.

Liquidity

On 15 March 2022 the company added around 81.8 BNB (about EUR 27,000 at the time, more than half of its share capital) plus LCR to the PancakeSwap pool, at an initial price of around EUR 0.01 per LCR. The liquidity tokens (LP) were locked with Mudra until 15 May 2024. The initial price was chosen so that the pool would have enough tokens to trade without slippage and the deployer would keep tokens to add liquidity over time.

Liquidity providers, including the company, earn the PancakeSwap fee on every trade in proportion to their share of the pool.

The economy being built

Everything from here to the end of this page describes contracts that are not yet on the main network. Two of them are written and tested; the rest are specified. They go to the BSC testnet and through an external review before anything runs for real. Nothing below is live today, and the dates are not promised.

One exit point, and a lock that does not open

All LCR spent inside the ecosystem passes through a single contract, LcrCaixa, which splits the payment in the same transaction and never holds a balance:

The 70% goes to a contract that has no withdrawal function of any kind. Those tokens stop circulating and stay there, in the same way as the LCR already sitting in the permanent lock since August 2022. This is not a burn: the token contract has no burn function, none was added, and the total supply stays at 100,000,000. What changes is how much of that supply is still able to move.

Any remainder of the integer division is added to the locked share, so the contract always ends at zero. There is no custody at any point. Each payment carries a unique reference and the contract refuses a reference it has already seen, so the same payment cannot be credited twice.

How LCR is obtained

• By playing. Prizes in Aldeia Lucrar are paid in LCR, capped at 40 LCR per member per month. That cap is enforced by the server today and moves inside the PremiosDaAldeia contract, so that it becomes something anyone can verify rather than something the company says.
• By buying. The open market on PancakeSwap, for anyone who does not want to wait.

What LCR pays for

The Aldeia pass (the subscription that opens the game, the Patreon area and the reserved areas of the website), part of the price of the courses, and goods inside the game.

The two rules of this economy

The shop floor. For paying inside the Lucrar shop, one LCR is always counted as at least EUR 0.40. If the market price is higher, the market price is used, so that nobody who held LCR is worse off. The conversion is read from an oracle at the moment of purchase. At today's price that means LCR buys roughly three times more inside the shop than it is worth outside, and that difference is what creates demand for the token without anyone having to be convinced of anything. The floor is commercial policy and can be revised. It is not a price guarantee, not a promise to buy back, and it applies only to purchases inside the platform.

The 50% rule. Nothing is ever free. At most 50% of the price of any purchase can be paid in LCR; the rest is always money. This protects the company's revenue, caps the cost of the discount programme at a known figure, and stops the system being drained.

On a course of EUR 97:

The Aldeia pass

An NFT with an expiry date, non-transferable (soulbound, the ERC-5192 standard), with an ERC-721 face so that it shows up in wallets and on BscScan. One pass per wallet. It is not the Lucrar Pass collection of 2022: that one is closed, it is a different asset, and it has its own page.

It is the single source of truth: the game, the website and the Patreon area all read the same function, ativo(wallet), instead of each keeping its own database. There are two ways to pay and one place to check: whoever pays in LCR extends the pass themselves, and the 70% share goes to the lock; whoever pays by card or through Patreon is extended by the server, with no LCR spent.

It is non-transferable on purpose. If a pass could be resold, one pass would be bought, used and sold on, and the locking effect would disappear. Extending adds up: with a live pass, new months are added to what is left.

Wallets and gas

Every player gets a wallet created from their email login: no seed phrase, nothing to install, no need to hold BNB. The gas is paid by the project. Anyone already using crypto can connect their own wallet instead.

Gas measured on 13 September 2026, with BSC at 0.05 gwei and BNB at USD 728:

An active player costs about USD 0.017 a month in gas.

The contracts

Written and tested, with 27 tests passing: LcrCaixa and PasseDaAldeia.

Then, in this order:

• CursoLucrar — access to the courses, and where the EUR 0.40 floor and the 50% rule live, with the oracle.
• PremiosDaAldeia — prizes in LCR with the monthly cap inside the contract.
• TorneioSemanal — the weekly pot through a Merkle tree, one transaction per week.
• Aldeoes — characters as NFTs with the image generated inside the contract. The only transferable one.

All of them without external dependencies, 200 to 350 lines each, written that way on purpose so that one person can review them in an afternoon. Publication on the BSC testnet and an external review come before the main network.

Price

The price is set by supply and demand on PancakeSwap and it follows BNB, because the pool is LCR/BNB. The company does not manage the price and does not promise any price. The token started at around EUR 0.01 in March 2022; on 13 September 2026 the reference was USD 0.143. These are historical values, not a forecast.

Mechanics

Because there was no sale below the initial price, if everyone sold, the price would return approximately to the initial value; nobody holds tokens bought cheaper than the pool. Large sales move the price down along the pool curve, so a large seller takes fewer BNB out. This is the standard behaviour of an automated market maker, not a feature of the token.

The company's stated measures on top of that:

• A reserve wallet in stablecoin to buy LCR after large drops (25% of the reserve after a 50% drop from the all-time high, the remaining 75% after a 90% drop, at most once a year). See Security and protection for the state of that reserve.
• Purchases of LCR by the company on the open market, at its discretion. Two have been made so far (see Utility).

Decentralisation over time

The company's long-term plan, unchanged since 2022, is for LCR to become decentralised as the supply leaves the contract and enters the liquidity pool, so that over the years the company no longer holds the majority. That depends on the release schedule described above and on holders choosing to provide liquidity. It has no fixed date.

What this page does not say

None of this is financial or legal advice. LCR is a utility token. In the EU, MiCA also covers utility tokens, and the company will take legal advice before selling courses in LCR. The liquidity of the pair is limited (about USD 338,000), so a very large purchase moves the price. The EUR 0.40 floor is commercial policy inside the shop, revisable, and neither a price guarantee nor a promise to buy back.

12On-chain status (September 2026)

Everything on this page was read directly from BNB Smart Chain on 13 September 2026. Anyone can repeat the reading on BscScan. It will be refreshed at each revision of this whitepaper.

Where the 100,000,000 LCR are

• Holders: 290 addresses. Transfers since creation: 33,940.
• The reserve wallet holds no LCR (it is meant to hold stablecoin; see Security and protection).

The pool

• 1,177,177 LCR and 232.2 BNB in the LCR/WBNB pair, about USD 338,000 of liquidity at the BNB price of the day.
• 1 LCR = 0.0001969 BNB at the time of reading, about USD 0.143.
• The liquidity tokens: 94.3% are held in the Mudra locker contract 0xAe7e6CAbad8d80f0b4E1C4DDE2a5dB7201eF1252 (the company's liquidity, locked in May 2022 until 15 May 2024 and left there since); 5.7% are held by the founder's personal wallet.

The locks

• Permanent lock 0xb061dac5ab20fd7c5b4c4848689e74fa8925e887: 4,124,604 LCR. Four of the quarterly releases (4,000,000) plus the 124,604 LCR of the contributors who sold part of their tokens in May 2022, locked for good.
• Team lock 0x60f43042c8bf7d13264ba47a71c08c337f4b9f0c: 524,683 LCR remaining of the 1,537,292 locked on 26 May 2022 (founder, team and contributor wallets above 50,000 LCR, six-month lock and then 5% per month).

What this means in plain words

• 97.3% of the supply is in the contract, in the company's main wallet or in locks. None of it is for sale.
• The tokens that actually change hands are the ones in the pool and in public wallets: about 1.3 million, a little over 1% of supply.
• The company's ability to influence the price is limited to what it publishes: its own purchases of LCR and additions of liquidity, disclosed after the fact. It has never sold.

13Company

• Name: Cripteracia, Unipessoal, Lda.
• Legal form: single-member private limited company (sociedade unipessoal por quotas), Portugal
• Tax and company number: PT516391283
• Incorporated: 18 March 2021, during the founder's degree
• Share capital: EUR 50,000
• CAE: 66190 (other activities auxiliary to financial services, except insurance and pension funds) and 64190 (other monetary intermediation)
• Registered office: BlueBiz Global Parques, Building V, Floor 0, Room 43, 2910-845 Setúbal, Portugal
• Public record: www.racius.com/cripteracia-unipessoal-lda
• Sole owner and manager: Gustavo Gomes Araújo. The team and how it is organised: lucrar.pt/team. About the founder: lucrar.pt/about-en.

The name combines cryptocurrency ("Crip") and financial literacy ("teracia"). The company started as Gustavo Araújo, Lda. and was renamed, with a new corporate purpose, CAE and share capital, before the launch of the Lucrar project.

Corporate purpose

Online content creation, dissemination and teaching in the financial area, marketing, business and investment. Trade, import, export, promotion and representation of services, goods and materials, with a focus on computer equipment, web and training content, including e-commerce. Professional training. Organisation of events, fairs and exhibitions. Complementary services for businesses, outsourcing. Rental and assignment of spaces and equipment.

Office

The office is in the BlueBiz industrial park in Setúbal, with guarded gates and surveillance. Visits are by appointment: write to [email protected] with the topic and reason for the meeting. The park has a meeting room the company can rent for events and there is parking next to the office.

Share capital and the token

More than 50% of the share capital (over EUR 25,000) went to the investment rubric and from there to the LCR liquidity pool on 15 March 2022, after the audit and before launch. LCR does not represent the share capital and gives no shareholding: the CMVM asked that this be stated clearly, and the reference to "shareholders" was removed from the 2022 documents for that reason.

Where the income comes from and where it goes

The company's income comes mainly from the rents of the housing it operates (a building with 40 rented rooms), and also from the members area on Patreon, the courses, consulting sessions and the other activities of the platform. After common expenses, the results are allocated to rubrics: the financial education fund (10%), the reserve, research and development, investment, marketing and cash. The reference percentages are on the company information page and can change whenever necessary. From December 2026 the quarterly financial statements on the homepage are the place to check what was actually done.

14Regulation

Three regulators matter for this project: the CMVM (securities), the Bank of Portugal (virtual asset service providers and anti-money-laundering) and, since 2024, the European MiCA regulation. This page records what each one said or requires, and what the company did.

Lucrar tokens and NFTs are not securities. Transactions on them are not subject to the rules applicable to the protection of investors in securities.

CMVM (Portuguese Securities Market Commission)

On 5 April 2022, before launch, the CMVM analysed the project and the token. Its reasoning: a token is a security only if it represents legal situations of a private and patrimonial nature comparable to typical securities (shares, bonds). What makes a token comparable is a right to income, or an obligation on the issuer to act in a way that raises the token's value.

So the company removed, before launch:

• the possibility of depositing tokens and receiving annual interest;
• the burn function;
• the distribution of periodic income to token holders;
• any reference to "shareholders" in the token distribution, since LCR does not represent the share capital.

The CMVM's conclusion was that LCR is not a security, and the same conclusion extends to the project's NFTs. The CMVM also asked that the whitepaper state this prominently, which it does.

The company keeps this line. The purchases of LCR the company has made are decisions about its own money, disclosed after the fact, and not an obligation or a right of holders.

The 2022 analysis was made on the token as it is, and the token has not changed: no mint, no burn, no interest, no income for holders, and the same 100,000,000 supply. The contracts described in Tokenomics sit beside the token, not inside it. They do not add any of those functions and they do not create a right to income. The share of each payment that stops circulating goes to a lock contract that cannot pay anyone, in the same way as the permanent lock that has existed since August 2022. The company will take legal advice on this economy, and on selling courses in LCR, before any of it runs on the main network.

Bank of Portugal

The company restructured the project before launch so as not to provide custody, exchange, transfer or similar services with virtual assets. It still sent, on 15 October 2021 and 4 March 2022, the communication under Notice no. 3/2021 concerning registration of entities carrying out activities with virtual assets (article 112-A of Law no. 83/2017 of 18 August, as amended by Law no. 58/2020).

The Bank of Portugal replied that the project, as described, did not require prior registration with the Bank under article 112-A. The letter is published on the company information page.

That remains the position: the company holds nobody's tokens, runs no exchange and makes no transfers on behalf of anyone. The swap on lucrar.pt is a non-custodial interface to PancakeSwap: the user's own wallet signs every transaction. The card on-ramp inside the swap is operated by Onramper and its licensed payment providers, who sell BNB to the user; the company is not a party to that sale.

MiCA (Markets in Crypto-Assets Regulation, EU 2023/1114)

The 2022 version of this whitepaper described MiCA as a proposal. It is now law. MiCA applied from 30 June 2024 for asset-referenced and e-money tokens, and in full from 30 December 2024 for other crypto-assets and for crypto-asset service providers. In Portugal the competent authorities are the CMVM and the Bank of Portugal.

How it touches this project:

• LCR is neither an asset-referenced token nor an e-money token.
• The company does not offer LCR to the public: it has never sold a token and has no offer open. It is not seeking admission to trading on any trading platform; the only market is a decentralised exchange where anyone can trade without the company's involvement.
• The company does not provide crypto-asset services (custody, exchange, transfer, advice, portfolio management) and therefore is not a crypto-asset service provider under MiCA.
• The 2022 NFT collection consists of unique, non-fungible passes, which MiCA generally excludes from its scope.

The company keeps this assessment under review with its legal advisers and will update this page if its activities or the regulators' guidance change.

Services the company chose not to offer

After the meeting with the CMVM and on the advice of its legal and financial advisers, the company decided not to launch the services it had planned that would require an investment firm licence (Decree-Law no. 109-H/2021) or a virtual asset service provider registration: an exchange, custody, a digital bank, LCR purchases with card directly from the company, and consulting of a kind that constitutes investment advice. The cost of a second regulated company was not justified. If the project ever needs those services, they will be set up in a separate, licensed entity.

15Security and protection

Four cold wallets

The company keeps LCR in four cold wallets with separate jobs. All four are public; balances can be checked on BscScan at any time, and the September 2026 reading is in the On-chain status page.

The reserve and its rule

If LCR drops 50% or more from its all-time high, 25% of the reserve is converted to LCR. If it drops 90% or more, the remaining 75%. Because of limited resources this can be used at most once a year.

State of the reserve in September 2026: the wallet holds 585 BUSD. BUSD, the stablecoin chosen in 2022, was discontinued by its issuer in 2023 and 2024 and no longer has a reliable market. The stablecoin used for the reserve is under review and this page will be updated when it changes. The rule above stands; the reserve itself is small.

Gold as a reserve of value

The project also holds physical gold in Swiss vaults (Elementum) as a reserve for times of crisis. The purchase contract and the certification are published on lucrar.pt:

• lucrar.pt/wp-content/themes/lucrar-hello-child/gold_backup/assets/pdfs/PT-TCG-GOLD02_TCG_Compra_e_Venda_Aurora_Gold.pdf
• lucrar.pt/wp-content/themes/lucrar-hello-child/gold_backup/assets/pdfs/H25-01056-2.pdf

The gold belongs to the company. It is not backing for LCR and LCR holders have no claim on it.

The main wallet never sells

The company's main wallet is used only to add liquidity to the pool, over twenty years or more. The company has not sold a single LCR since the project began. The only exception ever contemplated is bankruptcy, in which case the company simply could not add more liquidity.

Smart contract audit

The company paid Fairyproof, a blockchain security firm (auditor of Tether, Venus, Beefy Finance, IDEX and others), to audit the LCR contract. Automated tools and manual review found no issues. The report (October 2022) is public:

lucrar.pt/wp-content/themes/lucrar-hello-child/owner/assets/pdfs/LCRToken-Audit-Report-021022.pdf

Company policy manual

The Manual of Policies of Cripteracia, Unipessoal, Lda., in Portuguese, sets the principles that guide the company's decisions and applies to everyone who works with it, whatever their role. Its approval was recorded in minutes. Both are published on lucrar.pt/pt/informacoes-da-empresa.

Your own security

The website never stores crypto assets. When it reads a balance (to open the off-plan folder or the transaction register) it only reads; it never asks for a signature to move tokens. Keep your wallet's seed phrase offline and never share it. Nobody from the project will ever ask for it.

16Trademark

The brand "LUCRAR" is registered with the Portuguese National Institute of Industrial Property (INPI), registration no. 658354, class 41 (education; training). The concession order was published in the Industrial Property Bulletin on 30 April 2021.

The registration protects the content of lucrar.pt (especially the courses), the Workolic YouTube channel, the Facebook group "Lucrar Sem Investir" and the project's other social media. The Lucrar logotype is registered.

The registration title, the logotype registration and the submission letter are published on lucrar.pt/pt/informacoes-da-empresa.

17Changes since launch

Every material change to the project, the token or the company, in date order. The original 2022 plan was removed from this whitepaper in version 3; this page is the record of what was planned and what was changed.

Before launch (2021 to April 2022)

• Company renamed from Gustavo Araújo, Lda. to Cripteracia, Unipessoal, Lda., with new corporate purpose, CAE and share capital.
• Removed from the token, to comply with the CMVM analysis: burn, mint, deposits with a fixed 10% annual interest, distribution of dividends in crypto, share capital in the form of cryptocurrency.
• Net income no longer allocated directly to the token; it goes to retained results and is distributed by rubrics.
• Services dropped before launch: consulting of a kind that constitutes investment advice, custody, exchange, and buying LCR directly with a card from the company.
• 2 February 2022: LCR created. 15 March 2022: liquidity added on PancakeSwap (81.8 BNB). 15 April 2022: official launch. 22 April 2022: Lucrar Pass NFT blindbox opened.

2022

• 8 May: some early contributors sold part of their tokens after the team asked everyone to lock. The rest of their tokens, 124,604 LCR, was locked permanently. Bank and exchange records were published.
• 26 May: founder, team and contributor wallets above 50,000 LCR (1,537,292 LCR in total) locked for six months, then released at 5% per month.
• 15 May: the company's liquidity on PancakeSwap locked with Mudra for two years, until 15 May 2024.
• 4 August: every quarterly release of 1,000,000 LCR from the contract goes to a permanent lock instead of the market.
• October: Fairyproof audit report published.

2023

• Financial education event for NFT holders. Every Lucrar Pass, of any type, gave free access; holders also received LCR and the courses. Ticket money from non-holders was sent to holders of Special passes.
• NFT primary sale closed for good.
• Setúbal: promissory contract for the first apartment (24 January).

2024

• Setúbal: works started (29 January).
• The Mudra lock on the company's liquidity expired (15 May). The liquidity stayed in the locker.
• MiCA became applicable in the EU (30 June for asset-referenced and e-money tokens, 30 December for the rest).

2025

• 5 April: project update published with a reference price of EUR 0.14.
• July: land for six apartments bought in Montijo (18 July) and the multidisciplinary firm contracted (28 July).
• 30 July: Setúbal apartment completed and fully paid.
• September: monthly folder of off-plan projects starts, for holders of 1,000 LCR.
• 4 December: first purchase of LCR by the company (EUR 1,000).
• 3 December: whitepaper version 2.0 published.

2026

• 27 February: second purchase of LCR by the company (EUR 1,000).
• Founder registered with the CMVM as independent financial analyst; member no. 677 of APAF; Forbes 30 Under 30 Europe, Finance.
• Aldeia Lucrar, the village game, launched in place of the 2022 quiz; access portal, members area on Patreon (LCR balance, monthly challenges) and the first course.
• New homepage with the swap in both directions and the card on-ramp; new team and about pages.
• 31 August: editorial policy published.
• 12 September: whitepaper version 3 (this document). The 2022 plan pages were removed; on-chain status added; the game, the portal and the rents added; roadmap rewritten to what is actually scheduled; the team page replaced by lucrar.pt/team.
• 13 September: tokenomics rewritten with the on-chain economy the project is building (one payment contract, a lock that cannot pay out, the Aldeia pass, the shop floor and the 50% rule). None of it is on the main network; the token itself is unchanged.
• December (planned): first quarterly financial statements.

18Disclaimer

The purpose of this whitepaper is to inform the reader about the Lucrar project, the Lucrar token (LCR), the Lucrar Pass NFTs and the company behind them, Cripteracia, Unipessoal, Lda.

This whitepaper is not a solicitation to buy LCR or any NFT. Anyone who buys LCR accepts a significant risk, including that the token may have no value in the future for many reasons. Cripteracia will not refund or exchange LCR for anyone who is disappointed with their purchase or suffers a loss. There is no guarantee that the utility of LCR will meet the reader's expectations, or that the functionality described here will be delivered as described. Do not buy LCR with money you cannot afford to lose.

By buying LCR you accept that there is no recourse against Cripteracia for any loss, and that no claim, action, judgment or remedy may be brought against Cripteracia if LCR loses value, the project stops, or its products and services do not meet your expectations. If this disclaimer gives you any hesitation, Cripteracia recommends that you do not buy LCR. Consult your own legal, financial and tax advisers before any purchase; Cripteracia cannot advise you, and whether you may lawfully buy LCR in your jurisdiction is for you to establish.

LCR and the Lucrar Pass NFTs are not securities. They give no ownership, no voting right and no right to income in Cripteracia. LCR exists as a utility to use inside the Lucrar platform and ecosystem; it is not an investment and there is no promise or guarantee that it will increase in value. Transactions on LCR and on the NFTs are not subject to the rules applicable to the protection of investors in securities.

Cripteracia is not an investment firm and does not provide investment services, custody of crypto assets, exchange or transfer services. The website lucrar.pt does not store crypto assets. The registration with the CMVM is personal, held by Gustavo Gomes Araújo as an independent financial analyst. Nothing published on lucrar.pt or in this whitepaper is personalised financial advice or an investment recommendation.

This whitepaper is revised over time. The date of the current revision is on the first page and every material change is recorded in Changes since launch.