Terms of service

These terms and what they cover

These terms of service form an agreement between you and the operator of this website, referred to here as we, us and our. They cover your use of this website, the material published on it, the tools it offers, the account issued to you, and the waitlist and enquiry forms.

By browsing the site, submitting a form, or signing in, you accept these terms. If you do not accept them, please stop using the site.

These terms do not create any right to acquire, list or trade any asset or token, and they are not an agreement to provide the platform services described below. Those services, when they launch, will be governed by separate agreements and by the offering documentation for each individual asset.

Who we are

This website is operated by TODO(legal): full legal name of the contracting entity, registered at TODO(legal): registered address, with commercial registration number TODO(legal): registration number.

References in these terms to the.exchange and to the protocol are references to the project described in our whitepaper. Naming, token tickers and corporate structure are not final, and the whitepaper records them as placeholders pending review by counsel.

Eligibility and account access

Access beyond the public pages is limited to accounts issued by us. You sign in with the email address and password associated with that account. We may refuse access or suspend an account at any time and without notice.

• You must be at least 18 years old and able to enter into a binding contract.
• You must not be resident in, or accessing the site from, a jurisdiction where doing so would breach local law, and you are responsible for knowing whether that is the case.
• You must not be subject to sanctions, and you must not be acting for anyone who is.
• You must keep your password confidential, use it yourself only, and tell us promptly if you believe someone else has used your account.

Being granted early access does not entitle you to take part in any future offering, does not reserve any allocation, and does not create any preferential right of any kind.

Waitlist and enquiry submissions

The site lets you ask for access and contact our team. Both forms collect your name and email address, and optionally your phone number, company and a message. We use them to add you to our waitlist and to reply to you.

You must submit your own details, and they must be accurate. Do not submit anyone else's personal data through these forms, and do not put confidential information, payment details or identity documents in a message.

Adding you to the waitlist is not an offer of any product or service, and it does not oblige us to grant you access. How we handle these submissions is set out in our privacy policy.

Acceptable use

You may read and use this site for your own information. You may not:

• attempt to bypass, probe or defeat the login gate, the session mechanism or any other access control;
• scrape, crawl, harvest or bulk-download the site or its content, or use it to train a machine-learning model, without our prior written consent;
• copy, republish or redistribute the whitepaper, the architecture overview or any other material on this site as your own, or remove its attribution;
• interfere with the operation of the site, including by overloading it, injecting code, or introducing malware;
• misrepresent your identity or your eligibility, or use an account that was not issued to you;
• use the site to send unlawful, misleading, defamatory or abusive content, or for any unlawful purpose.

Nothing here is advice, an offer or a solicitation

The content on this site is published for general information. It is not investment, financial, legal, tax or accounting advice, and it is not a recommendation to enter into any transaction. If you need advice, consult a professional licensed to give it in your jurisdiction.

Nothing on this site is an offer to sell, or a solicitation of an offer to buy, any security, token, asset or financial instrument, in any jurisdiction where such an offer or solicitation would be unlawful or would require a registration or licence we do not hold.

This section is consistent with the risk disclosure shown at the foot of every page, which forms part of these terms.

Illustrative figures, tools and models

Several parts of this site present figures that are illustrative rather than actual. In particular:

• the portfolio configurator and its charts run on modelled sample data and produce hypothetical outputs, not quotes, offers or forecasts;
• the investment simulator on a listing page shows a historical or modelled projection for illustration, and is expressly not a forecast or a guarantee;
• yields, valuations, fee figures, token quantities and growth statistics shown anywhere on the site are indicative, may be sample data, and may change without notice.

Past or simulated performance says nothing about future results. No figure on this site is a promise of a return, and you must not rely on any of them in making a decision.

Forward-looking statements and the roadmap

Our whitepaper, architecture overview and roadmap describe a system that is partly built and partly planned. Statements about what the protocol will do, when it will launch, which verticals it will serve, and which licences or partners will carry regulated activity are forward-looking.

Forward-looking statements are subject to technical, commercial and regulatory uncertainty. Dates may move, phases may be reordered, features may change materially, and planned capabilities may never ship. The whitepaper itself records its token tickers, fee parameters, thresholds and jurisdictional conclusions as placeholders pending review by counsel.

We are not obliged to update any forward-looking statement, and you should not treat the roadmap as a commitment.

Platform services, not yet available

The following describes what the platform is intended to do when it launches, so you can understand what this site is about. None of it is available today, none of it is offered to you by these terms, and each part will be governed by a separate agreement, by the offering documentation for the asset concerned, and by the rules of the licensed venue or partner through which it is provided.

Listing and tokenization. Asset owners are intended to register an asset against independently verified documentation and to place title into a dedicated holding company whose constitutional documents make the on-chain ledger the member register, with the member interest issued as a fixed-supply token. Every listing is intended to be classified at admission as income-grade or venture-grade; a venture-grade listing carries a total-loss risk label, and an investor in one can lose their entire investment.

Identity verification. Participation is intended to require identity, sanctions and source-of-funds verification carried out through a licensed distributor in your jurisdiction, for every economic act: subscribing to an offering, enrolling tokens in the lock program, claiming a distribution, and participating in an auction. Verification will be carried out by a distributor or an approved provider, and we may refuse or revoke it.

Settlement. Collected income and the cash leg of sales are intended to settle in USD Coin, a regulated dollar stablecoin issued by a third party. We do not intend to issue a settlement token of our own, and no instrument on the platform is intended to be redeemable on demand.

Trading. Where permitted, ownership units are intended to trade in periodic uniform-price auctions, between verified participants only, with all fills in an auction settling at one clearing price. We do not promise that a market will exist, that it will be liquid, or that you will be able to exit a position; an auction with no buyers fills nothing.

Fees. The platform's fees are charged in cash only, never in asset units. Income-grade listings are intended to pay a one-time listing fee of 2.0% of gross primary proceeds and a yearly administration fee of 0.60% of the latest independent appraisal; venture-grade listings a 5.0% listing fee and no yearly value fee. Each listing is additionally intended to carry an asset management fee on collected income only, set at admission within a published band for its asset class, shared between the asset's operating manager and the platform, and disclosed on the listing before any unit is offered; the manager's share may, where disclosed at tokenization, be taken as a reserved, vesting tranche of the asset's fixed token supply. All recurring fees together are intended to be capped at 25% of any distribution period. Secondary fills are intended to carry a 0.10% buyer-side fee, capped per account per day. These parameters are indicative, are not yet in force, and may change before launch.

Until launch, and until you enter into the applicable agreement, nothing in this section creates any obligation on us or any right for you.

Intellectual property

The site and its contents, including the whitepaper, the architecture overview, the roadmap, the text, layout, design, diagrams, illustrations, logos and code, are owned by us or by our licensors and are protected by intellectual property law.

You may read the site, and you may quote short extracts of the whitepaper or architecture overview for comment, review or research provided you attribute them to us and do not misrepresent their meaning. Any other use, including reproduction, adaptation, distribution and commercial use, needs our prior written consent.

The.Exchange name and logo are our marks and may not be used without our written permission, including in any way that suggests an endorsement, partnership or affiliation that does not exist.

Third parties, links and named organisations

The site links to third-party sites and names third parties, including regulators, registries, custodians, payment providers, blockchains and other projects, in the whitepaper's references and in explanatory material. We do not control those parties or their content, we do not endorse them, and we are not responsible for them.

Naming a party, a standard or a framework does not mean that party has reviewed, approved, endorsed or partnered with us, or that we hold any licence, authorisation or registration, unless we say so expressly.

Availability and changes to the site

We provide the site as it is and as it is available. We may change, suspend, restrict or withdraw all or part of it, including the gated area and the tools, at any time and without notice. We may also end the early-access programme.

We do not promise that the site will be uninterrupted, timely, secure or error-free, or that its content is complete, accurate or current. Digital-asset infrastructure and the technology underlying it carry regulatory, operational and technological risk.

Disclaimer of warranties

To the fullest extent the law allows, we exclude all warranties, conditions, representations and terms not expressly set out here, whether implied by statute, common law or otherwise, including any implied warranty of accuracy, completeness, satisfactory quality, fitness for a particular purpose, or non-infringement.

Nothing in these terms excludes or limits any liability that cannot lawfully be excluded or limited.

Limitation of liability

To the fullest extent the law allows, we are not liable for:

• any loss of profit, revenue, business, opportunity, goodwill or anticipated saving;
• any indirect, special, incidental or consequential loss;
• any loss arising from your reliance on information, figures, projections or forward-looking statements published on this site;
• any loss arising from the unavailability of the site, from unauthorised access to it, or from the acts or omissions of a third party outside our control.

Our total liability arising out of or in connection with these terms and your use of the site is limited to TODO(legal): liability cap.

This section does not affect any liability we may have under a separate agreement for a platform service, if and when such an agreement is entered into.

Indemnity

You agree to indemnify us against any loss, liability, cost and reasonable expense we incur as a result of your breach of these terms, your misuse of the site, or your submission of content or personal data you were not entitled to submit.

Privacy and data protection

How we handle personal data, including the waitlist and enquiry forms, your account and its sign-in records, fault records, and the cookies and browser storage this site uses, is set out in our privacy policy, which forms part of these terms.

If a platform service launches and requires identity verification, the additional data that verification involves will be described in the privacy notice given to you at that time.

Changes to these terms

We may update these terms as the project develops, and in particular before and at launch. The version in force is the one published on this page, with the version number and effective date shown at the top.

If we make a material change we will take reasonable steps to signal it on the site. Continuing to use the site after a change takes effect means you accept the updated terms.

Governing law and disputes

The governing law of these terms and the forum for any dispute are still to be confirmed with counsel, and are recorded here as TODO(legal): governing law, dispute forum, and whether disputes go to arbitration or to a named court.

Our whitepaper analyses the protocol against the framework of the United Arab Emirates, including the Central Bank payment-token regime and the Dubai virtual-asset and land-registry frameworks. That analysis describes the intended regulatory perimeter of the platform. It is not a choice of law for these terms, and it is not a statement that we hold any licence.

Until this section is completed, nothing in these terms should be read as a submission to, or a waiver of, any particular jurisdiction.

How to contact us

Questions about these terms can be sent to TODO(legal): legal contact address, and formal notices should be sent to TODO(legal): address for legal notices. You can also reach our team through the contact form on this site.