> For the complete documentation index, see [llms.txt](https://docs.brix.money/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.brix.money/resources/terms-and-policies/itry-token-terms.md).

# iTRY Token Terms

Last Updated: 25.03.2026

These terms apply to your holding and use of the iTRY token (the “**Token**”). Please note that any legislative or regulatory changes, whether in the British Virgin Islands or internationally, may adversely affect the use, transfer, minting, redemption, exchange and/or value of the Token.

Users who have completed Know-Your-Customer (“**KYC**”) and Anti-Money Laundering (“**AML**”) checks, as well as other onboarding procedures, and are whitelisted by iTRY Limited (the “**Company**”) are referred to in these Token Terms as a ‘Mint/Redeem User’ (“**Mint/Redeem User**”). Such users may access services provided by the Company (“**Token Services**”) to mint and redeem Tokens through the platform app.brix.mint, the “**Platform**” and the relevant iTRY mint/redeem interface **“iTRY Functions”**), in accordance with the terms hereof. For the avoidance of doubt, the Platform is not owned, nor run by the Company, and is a third-party business.

To the extent you have not completed the aforementioned checks or been whitelisted but hold the Tokens, these Token Terms still apply to your holding and use of the Tokens, and you are referred to herein as a “**Holding User**”, and collectively with the Mint/Redeem Users as a “**User**”. For the avoidance of doubt, only Mint/Redeem Users are customers of the Company and no Holding User will have any rights as such.

By obtaining and using the Tokens, you understand and expressly agree to these terms (“**Token Terms**”), regardless of whether or not you are a customer of the Company, and you represent and acknowledge that you have reviewed and understand each of the disclosures made in these Token Terms. Any provisions of these Token Terms that only apply to Mint/Redeem Users or Holding Users will be specifically noted herein. Unless so noted, each Section of these Token Terms apply to both Mint/Redeem Users and Holding Users, and any use of “you” or “your” refers to both Mint/Redeem Users and Holding Users.

By holding or using the Tokens, or using any of the Token Services (as defined herein), you agree that you have read, understood and accept all of the terms and conditions contained in these Token Terms, as well as our Privacy Policy and Cookie Policy, and you acknowledge and agree that you will be bound by these terms and policies.

Section 23 (*Amendments*) of these Token Terms governs how these Token Terms may be changed over time; the date of the most current and applicable update is set forth at the top of these Token Terms.

## **1.** **About the Tokens**

The Tokens are a virtual asset issued by the Company. The Tokens are not intended to be regarded as a security or investment and do not represent a claim, participation interest, fund interest, derivative interest, economic right, voting right, or other similar right associated with the Company or any of its affiliates or any other entity associated with the project. Specifically, the Token itself does not earn interest or yield merely by virtue of a user holding the Token in their wallet.

The value of the Tokens is backed by investments made by the Company in a Turkish lira money market fund and other assets held by the Company. For every Token issued by the Company and remaining in circulation, the Company will hold an equivalent amount in such assets (“**Token Reserves**”). Legal title to the Token Reserves is held by the Company; holding the Token does not give you any rights whatsoever in or to the Token Reserves.

## **2.** **Eligibility and Limitations**

Support for the Tokens and access to the minting and redeeming functions is currently only available to individuals and institutions located in supported jurisdictions.

By holding or using the Tokens, or accessing or using the Mint/Redeem services, you represent and warrant that:

* you are at least 18 years old, are not a Restricted Person, and are not holding the Tokens on behalf of a Restricted Person.
* you will not be using the Tokens or the Token Services (as applicable) for any illegal activity, including, but not limited to, illegal gambling, money laundering, fraud, blackmail, extortion, ransoming data, terrorism financing, other violent activities or any prohibited market practices, including, but not limited to, those listed under Sections 17 and 18 (*Restricted Activities* and *Prohibited Transactions*) of these Token Terms.

You also understand that there are additional representations and warranties made by you elsewhere in (or by reference in) these Token Terms and that any misrepresentation by you is a violation of these Token Terms.

If the Company suspects or determines that you, or any person acting on your behalf, have violated these Token Terms, including, but not limited to, attempting to transact or transacting with Blocked Addresses (as defined in Section 14 (*Risk Factors and Disclosures*) of these Token Terms) or attempting to engage or engaging in Restricted Activities (as defined in Section 17 (*Restricted Activities*) of these Token Terms) or Prohibited Transactions (as defined in Section 18 (*Prohibited Transactions*) of these Token Terms), then the Company may be forced to terminate your status as a User.

The Company may, in its sole and absolute discretion and without any liability to you:

(a) determine not to make the Token Services, in whole or in part, available in every market; and/or

(b) refuse to let you register as a Mint/Redeem User.

Use of certain Token Services may have further eligibility requirements that will need to be verified prior to you using such Token Services, or from time to time in order to continue your use of the Token Services, and may be subject to additional terms and conditions.

## **3.** **Becoming a Mint/Redeem User**

To be registered as a Mint/Redeem User, you must provide any and all documents and information that we, in our sole and absolute discretion, require for compliance with know your customer and anti-money laundering rules and regulations (notwithstanding that our compliance may be undertaken on a voluntary rather than mandatory basis). You also agree to provide us or one of our affiliates, when registering as a Mint/Redeem User and on an ongoing basis, any additional information we request for the purposes of identity verification and the detection of money laundering, terrorist financing, fraud, or any other financial crime. By using the Services, you expressly permit us to keep a record of such information and authorize us to make the inquiries, whether directly or through third parties, that we consider necessary or desirable to verify your identity or protect you and/or us against fraud or other financial crime, and to take action we reasonably deem necessary based on the results of such inquiries.

In certain circumstances, we may require you to submit additional information about yourself or your business, provide records, and complete other verification steps (such process, "**Enhanced Due Diligence**").

You represent and warrant that all information provided to us pursuant to this Agreement is true, accurate and not misleading in any respect. If any such information changes, it is your obligation to update such information as soon as possible by contacting <admin@itry.network>. You further represent and warrant that (i) you are duly organized and validly existing under the laws of the jurisdiction of your organization; and (ii) you have not been previously suspended or removed from the Token Services or any other service or product offered by the Company or its affiliated entities.

From time to time, we may be required to request further information or review or update existing information regarding your registration or your transactions to comply with our contractual obligations and/or applicable laws and regulation, and in some cases, payment network rules. Failure to provide such information, if requested by the Company or by one of its affiliates, in a timely fashion may result in the suspension of your ability to use the Services (until you provide such information) or the termination of your status as a Mint/Redeem User, in the sole discretion of the Company and without liability to you.

We reserve the right to maintain your registration information after you terminate your status as a Mint/Redeem User for business and regulatory compliance purposes, subject to applicable laws and regulation.

## **4.** **Suspension of Status**

We may, without liability to you or any third party, suspend your status as a Mint/Redeem User or terminate your status as a Mint/Redeem User or suspend your use of one or more of the Token Services in accordance with the terms of these Token Terms, as determined in our sole and absolute discretion.

Such actions may be taken as a result of inactivity, failure to respond to customer support requests, failure to positively identify you, a court order, your violation of the terms of these Token Terms or for other similar reasons. The Company may also temporarily suspend your status as a Mint/Redeem User in the event that a technical problem causes system outage or Company errors until the problem is resolved. For the avoidance of doubt, in the event your status as a Mint/Redeem User is suspended or closed, you will no longer be able to access any of the Token Services.

In the event that the Company suspends your status as a Mint/Redeem User, you remain liable for all activity conducted on or with your status as a Mint/Redeem User while it was active and for all amounts due hereunder.

## **5.** **Minting and Redeeming the Tokens**

Subject to compliance with these Token Terms, Mint/Redeem Users may avail themselves of the following services (collectively, the “**Token Services**”):

(i) mint and issue Tokens in exchange for tokens accepted from you by the Company (and the Company reserves the right to determine which tokens it will accept at any time and may change which tokens it deems to be acceptable at any time and for any reason); and\
(ii) redeem the Tokens for supported assets from the Company.

These services will be available by the Company through the Platform, which will be accessible only to whitelisted users, provided that that Company may refuse any minting or redemption request in its sole discretion, including for compliance, operational or risk management reasons. For the avoidance of doubt, a redemption request will be subject to the Company determining, in its sole and absolute discretion, that it will remain solvent following the satisfaction of any such request.

Any of the Token Services can be suspended or discontinued at any time, in the Company’s sole and absolute discretion and for a fixed or indefinite period of time.

For the avoidance of doubt, the Token Services are provided only to Mint/Redeem Users and no Holding User shall be entitled to access such services. While the Company will make reasonable efforts to ensure that requests for Company transactions are processed in a timely manner, the Company makes no representations or warranties regarding the amount of time needed to complete processing.

## **6.** **Restrictions on Token Services and Transactions**

The Company may set and subsequently change, in its sole discretion, limits or restrictions (in any terms such as, and without limitation to amount, volume, time etc) on the ability of a Mint/Redeem User to use the Token Services. The Company may further change, suspend, or discontinue any aspect of the Token Services at any time, including hours of operation or availability of any feature, without notice and without liability.

We may, in our sole discretion, delay any transaction if we believe that such transaction is suspicious, may involve fraud or misconduct, violates applicable laws or payment network rules, or violates any term of this Agreement.

## **7.** **Scope of the Token and Key Terms**

Your use of the Token and the Token Services is subject to these Token Terms and the Company’s obligations hereunder are conditional on you complying with its provisions. With respect to any Mint/Redeem User, any violation of these Token Terms may result in the suspension of your rights as a Mint/Redeem User.

You understand and agree that sending the Tokens to another address automatically transfers and assigns to the owner of that address and any subsequent owner all rights and obligations of a Holding User with respect to such Tokens. If the owner of that address is not a Mint/Redeem User, such person is not entitled to redeem the Tokens with the Company unless and until they register to become a Mint/Redeem User.

Each Token is intended to maintain a value of 1 TRY. In order to issue 1 Token, a corresponding 1 TRY equivalent amount of assets is held by the Company in the Token Reserves. The Company (or an affiliate designated by the Company) commits to redeem 1 Token for 1 TRY of notional value in supported digital assets, subject to these Token Terms, applicable law, and any fees where applicable. While the Company may hold the Token Reserves in interest-bearing accounts or other yield-generating instruments, you acknowledge that you are not entitled to any interest or other returns earned on such funds. The Tokens do not themselves generate any interest or return for holders of the Tokens and only represent your right to redeem the Tokens as a Mint/Redeem User, if you are one. If you are a Holding User, you do not have a right to redeem the Tokens with the Company.

The Company does not provide any custody services with respect to the Token or any other assets. The Company is not a fiduciary, and the Company does not provide any trust or fiduciary services to any User in the course of such User visiting, accessing, or using the Company website or services, including, for the avoidance of doubt, holding the Token.

Furthermore, the Company does not provide investment, tax, or legal advice, nor does the Company broker trades on your behalf. You must consult your legal or tax professional regarding your specific situation. The Company may provide educational information about the Token and other Virtual Assets not supported by the Company, including, without limitation, blog posts, articles, links to third-party content, news feeds, tutorials, and videos. The information provided on the Platform or the Token’s webpage or any third-party sites does not constitute investment advice, financial advice, trading advice, or any other sort of advice, and you should not treat any of the website's content as such.

## **8.** **Applicable Laws and Regulations. AML and CTF**

Your holding and use of the Tokens, and any use of the Token Services, is subject to the laws, regulations, and rules of any applicable governmental or regulatory authority, including, without limitation, all applicable tax, anti-money laundering (“**AML**”) and counter-terrorist financing (“**CTF**”) provisions and sanctions. You agree to act in compliance with and be legally bound by these Token Terms and all applicable laws and regulations.

The Company is committed to complying with all applicable AML and CTF laws and regulations. These standards are designed to prevent the use of the Token Services for money laundering, terrorist financing, fraudulent transactions, and any other illegal activities. The Company takes compliance very seriously and actively engages in measures to:

* Prohibit fraudulent transactions;
* Report suspicious activities;
* Prevent money laundering, terrorist financing, proliferation of weapons of mass destruction, and any related acts that facilitate financial crimes.

The Token Services are subject to economic sanctions programs administered in the countries where we conduct business, including but not limited to those administered by the U.S. Department of Treasury’s Office of Foreign Assets Control (“**OFAC**”), pursuant to which we are prohibited from providing services or entering into relationships with certain individuals and institutions. Any Mint/Redeem User using the Token Services represents that their actions are not in violation of such sanctions programs. Without limiting the foregoing, no Mint/Redeem User may use the Token Services if (i) they are a resident, national or agent of a jurisdiction subject to comprehensive sanctions by OFAC, the United Nations, the European Union, or H.M. Treasury (“**Restricted Territories**”), (ii) they are on the Table of Denial Orders, the Entity List, or the List of Specially Designated Nationals (“**Restricted Persons**”), or (iii) they intend to transact with any Restricted Territories or Restricted Persons. You further represent that you are not a citizen, resident, or organized in, the following jurisdictions (the “**Prohibited Jurisdictions**”): Abkhazia, Afghanistan, Angola, Belarus, Burundi, Central African Republic, Congo, Cuba, Crimea, Ethiopia, Guinea-Bissau, Iran, Ivory Coast (Cote D’Ivoire), Lebanon, Liberia, Libya, Mali, Burma (Myanmar), Nicaragua, North Korea, Northern Cyprus, Russia, Somalia, Somaliland, South Ossetia, South Sudan, Sudan, Syria, Ukraine (Donetsk and Luhansk regions), United States, Venezuela, Yemen, Zimbabwe.

In the event that we are required to block funds associated with your status as a Mint/Redeem User in accordance with a sanctions program, or other similar government sanctions programs, we may: (i) suspend your status as a Mint/Redeem User; (ii) terminate your status as a Mint/Redeem User; or (iii) return funds to the destination of their origin or to an account specified by authorities. In certain cases, taking one or more of these actions may result in a forfeiture of some or all of your assets held with the Company. We are not responsible for any losses, whether direct or indirect, that you may incur as a result of our complying with applicable law and regulations, the guidance or direction of any regulatory authority or government agency, or any writ of attachment, lien, levy, subpoena, warrant, or other legal order.

## **9.** **Support Team**

Please contact the Company’s support team (“**Support Team**”) at <admin@itry.netwok> to report any violations of these Token Terms or to ask any questions regarding these Token Terms or the Token Services, as applicable.

## **10.** **Copies, Wrappers, and Forks Not Supported**

As a result of the decentralized and open-source nature of the Tokens it is possible that a third party unaffiliated with the Company could create an alternative, equivalent version of the Tokens either on one of the Token supported blockchains or on an unsupported blockchain (a “*copy*”) that operate independently from the Tokens. Similarly, it is possible that a third party unaffiliated with the Company may create an asset and purport that such asset is collateralized by or otherwise incorporates the Token into its design (a “*wrapper*”). The Company supports only the Token and is under no obligation to support any copies of the Token or wrappers and assumes no responsibility for any value that might be lost as a result of this lack of support of copies of the Tokens. No such copy or wrapper should be considered approved, sold, distributed, or promoted by the Company unless explicitly stated.

As a result of the decentralized and open-source nature of the blockchains on which the Token is supported, it is possible that a party unaffiliated with the Company could create an alternative version of the blockchain (a “*fork*”). Note that in the event of a fork of one of the Token supported blockchains, the Company may be forced to suspend all activities relating to the Token (including tokenizing assets for the Tokens, redeeming the Token for supported assets, or sending and receiving the Tokens) for an extended period of time until the Company has determined in its sole discretion that such functionality can be restored (“**Downtime**”). This Downtime will likely occur immediately upon a “*fork*”, potentially with little to no warning, and during this period of Downtime you will not be able to conduct various activities involving the Tokens. In the event of a fork of one of the Token supported blockchains, the Company shall, in its sole discretion, determine which fork it will support, if any.

## **11.** **The Token Supported Blockchains and Smart Contract Modifications**

The Token operates on Token-supported blockchains. The Company does not have any ability or obligation to prevent or mitigate attacks or resolve any other issues that might arise with any Token-supported blockchain. Any such attacks or delays on any Token supported blockchain might materially delay or prevent you from sending or receiving the Tokens, and the Company shall bear no responsibility for any losses that result from such issues.

The Company reserves the right to migrate the Tokens to another blockchain or protocol in the future in its sole discretion. Upon the Company’s request, you agree to take any and all actions reasonably necessary to effectuate the migration of your Tokens to another blockchain or protocol identified by the Company. The Company will not be responsible or liable for any damages, losses, costs, fines, penalties or expenses of whatever nature, whether or not reasonably foreseeable by the parties, which you may suffer, sustain or incur, arising out of or relating to your failure to effectuate such migration of your Tokens to another blockchain or protocol identified by the Company.

## **12.** **Privacy and Security**

We are committed to protecting your personal information and helping you understand exactly how your personal information is being used. You should carefully read the Privacy Policy, as it provides details on how your personal information is collected, stored, protected, and used.

You are responsible for maintaining the confidentiality and security of all account names, User IDs, passwords, seed phrases, private keys, personal identification numbers and other access codes that you use to access the Token Services and the Platform.

You are responsible for keeping your email address and all other access and User information up to date with us and for maintaining the confidentiality of your User information. We strongly advise you to enable all security features that are available to you (such as, by way of example, using hardware wallets to secure private keys); this offers you enhanced protection from possible malicious attacks.

The Company will not be liable for any loss or damage arising from your failure to protect your registration information or private keys.

We shall not bear any liability for any damage or interruptions caused by any computer viruses, spyware, or other malware that may affect your computer or other equipment, or any phishing, spoofing, or other attack. We recommend the regular use of a reliable virus and malware screening and prevention software. If you question the authenticity of a communication purporting to be from the Company, you should contact a Company representative directly.

## **13.** **Limited License and IP Rights**

We grant you a limited, non-exclusive, non-sublicensable, and non-transferable license, subject to the terms and conditions of these Token Terms, to access and use the Token Services solely for approved purposes as determined by the Company. Any other use of the Token Services is expressly prohibited. The Company reserves all rights in the Token Services and you agree that these Token Terms do not grant you any rights in or licenses to the Token Services except for the limited license for Mint/Redeem Users to use the Token Services. Except as expressly authorized by the Company, you agree not to modify, reverse engineer, copy, frame, scrape, rent, lease, loan, sell, distribute, or create derivative works based on the Token Services, in whole or in part. If you violate any portion of these Token Terms, your permission to access and use the Token Services may be terminated pursuant to these Token Terms.

All logos and branding related to the Company and the Token Services are either copyrights, trademarks, or registered marks of the Company. Whether or not you are a Mint/Redeem User, you may not copy, imitate, or use them without the Company’s prior written consent. All right, title, and interest in and to the Company website, any content thereon, the Token Services, and all technology and any content created or derived from any of the foregoing is the exclusive property of the Company.

## **14.** **Risk Factors and Disclosures**

The following list of risks associated with the Tokens and the Token Services is not exhaustive.

*No guarantee of price stability on Third Party Platforms*

The Company does not guarantee that the value of 1 Token will always equal 1 TRY on other platforms. Due to a variety of factors outside of the Company’s control, the value of the Token on third-party platforms such as cryptocurrency exchange platforms could fluctuate above or below 1 TRY. Although a Token is always redeemable for 1 TRY in notional value, less applicable fees (if any), the Company cannot control how third parties quote or value the Tokens, and the Company is not responsible for any losses or other issues that may result from fluctuations in the value of the Tokens.

*Third-parties*

The Company does not control or endorse any products, services, or platforms offered by third parties using the Token Services or supporting the Token. Third parties may elect to support the Token on their platforms without any authorization or approval by the Company. The availability of the Token on any third-party platform does not imply that such services are valid, legal, stable, or otherwise appropriate.

The Company is not liable for any losses, issues, or consequences that may arise from third-party transactions or the use of the Token on third-party platforms, including, but not limited to, (i) failure to comply with applicable laws and regulations, including illegal transactions; (ii) the quality, delivery, or satisfaction of products and services facilitated by the Token Services; (iii) technical errors, loss of access, or inability to recover the Tokens resulting from the use of third-party platforms.

You accept all consequences of sending Tokens to third-party platforms or addresses, including the risk of loss or failure to recover your Tokens. For the avoidance of doubt, the Company has no obligation to track, verify, or determine the provenance of the Token balances or transactions involving third-party platforms.

*You accept all consequences of sending the Tokens.*

Token transactions are not reversible. Once you send Tokens to an address, you accept the risk that you may lose access to, and any claim on, those Tokens indefinitely or permanently. For example, (i) an address may have been entered incorrectly and the true owner of the address may never be discovered, (ii) you may not have (or subsequently lose) the private key associated with such address, (iii) an address may belong to an entity that will not return the Tokens, or (iv) an address belongs to an entity that may return the Tokens but first requires action on your part, such as verification of your identity. For the avoidance of doubt, nothing in these Token Terms is intended to obligate the Company to track, verify or determine the provenance of the Token balances for Users, including any form of security interests claimed thereon.

*Blocked Addresses & Forfeited Funds*

The Company reserves the right to “block” certain Token addresses, deny access (or procure the denial of such access) to the Platform and Token Services and freeze associated Tokens (temporarily or permanently) that it determines, in its sole discretion, may be associated with illegal activity or activity that otherwise violates these Token Terms (“**Blocked Addresses**”). In certain circumstances, the Company may deem it necessary to report such suspected illegal activity to applicable law enforcement agencies and you may forfeit any rights associated with your Tokens, including the ability to redeem Tokens for any permitted assets. The Company may also be required to freeze Tokens and/or surrender associated assets held in the Token Reserves in the event it receives a legal order from a valid government authority requiring it to do so.

*Blacklisting*

The Tokens are issued and redeemed in accordance with the Company's internal blacklisting policy, which is subject to change from time to time. The Company reserves the right to block the transfer of the Tokens to and from any address on chain.

*Software protocols and operational challenges*

You are aware of and accept the risk of operational challenges. The Company may experience sophisticated cyber-attacks, unexpected surges in activity or other operational or technical difficulties that may cause interruptions to the Token Services. You understand that the Token Services may experience operational issues that lead to delays, including delays in redeeming Tokens. You agree to accept the risk of transaction failure resulting from unanticipated or heightened technical difficulties, including those resulting from sophisticated attacks. You agree not to hold the Company accountable for any related losses.

*Compliance*

You are responsible for complying with applicable law. You agree that the Company is not responsible for determining whether or which laws may apply to your transactions, including tax laws. You are solely responsible for reporting and paying any taxes arising from your use of the Tokens or the Token Services, including any accurate reporting of the tax or legal status of the Tokens in your jurisdiction.

*Legal treatment of the Token transfers*

The regulatory status of the Tokens and blockchain technology is unclear or unsettled in many jurisdictions. It is difficult to predict how or whether regulatory agencies may apply existing regulation with respect to the Tokens, blockchain technology and its applications. Accordingly, it is not possible to determine whether a Token transfer would be recognized under applicable law by a court or regulator.

*Legislative and regulatory changes*

Legislative and regulatory changes or actions at the international level may adversely affect the tokenization of assets into the Tokens, and the use, transfer, redemption and/or value of the Tokens.

*Claim on funds*

Only Mint/Redeem Users can redeem Tokens directly with the Company. For Mint/Redeem Users, your ability to redeem with us for each Token is conditional on (i) your possession of a corresponding amount of the Tokens associated with a Mint/Redeem User, (ii) no violation of these Token Terms, and (iii) no action, pending or otherwise, by a regulator, law enforcement or a court of competent jurisdiction that would restrict redemption. Your ability to redeem Tokens may further be limited by laws relating to insolvency and bankruptcy, where such a redemption may cause our assets to be less than our liabilities or render us incapable of paying our debts as they fall due.

Sending Tokens to another address automatically transfers and assigns to that Holding User, and any subsequent Holding User, the right to redeem Tokens with us so long as the Holding User is eligible to, and does, register as a Mint/Redeem User (and thereby becomes a Mint/Redeem User).

*Encumbrances*

Depending on the actions of the owners of the Token addresses before your receipt of the Tokens from another Token address, it is possible that the transfer of the Tokens between Token addresses could result in the Tokens in your whitelisted wallet becoming subject to a lien or other form of security interest before redemption.

*On-chain transactions irreversible*

When Tokens are sent to a third-party Token address, such transaction is completed on Token supported blockchains. This means that such a transaction is irreversible and the Company does not have the ability to reverse or recall any transaction once initiated. You bear all responsibility for any losses that might be incurred as a result of sending Tokens to an incorrect or unintended Token address.

*Affiliate Activities*

You understand and agree that individuals or entities affiliated with the Company may hold, purchase, sell, or otherwise engage in transactions using or involving Tokens. You further understand and agree that such persons may engage in this activity for any reason, including but not limited to engaging in commercial transactions, promoting transaction activity that utilizes Tokens, or otherwise supporting the use or adoption of the Token. This activity may involve selling Tokens to other entities for provision to their end users. You understand and agree that no individual or entity, whether affiliated with the Company or otherwise, is under any obligation to engage in these activities, and they may be discontinued at any time.

## **15.** **Fees**

The Company may charge fees in connection with the Token Services. You agree to pay the fees shown to you, if any, or as separately agreed between you and the Company, when you enter into a transaction (including minting or redemption transaction). The Company may change the rate of any of the fees that it charges at any time, with or without notice, provided that the Company will not charge you any fees for minting or receiving Tokens unless disclosed to you prior to initiating such transaction.

The Company is not responsible for and shall bear no liability in respect of any network fees or transaction charges you incur in sending any Tokens to any person.

## **16.** **Transactions Irreversible**

Once a minting or redemption transaction has been initiated, it cannot be reversed. Except as set forth in these Token Terms, all transactions processed through the Token Services are nonrefundable.

## **17.** **Restricted Activities**

In connection with your holding or use of the Tokens, or the Token Services (as applicable), you hereby agree that you will not:

1. violate (or assist any other party in violating) any applicable law, statute, ordinance, or regulation;
2. intentionally try to defraud (or assist in the defrauding of) the Company, Mint/Redeem Users, or Holding Users;
3. provide false, inaccurate, or misleading information;
4. take any action that interferes with, intercepts, or expropriates any system, data, or information;
5. partake in any transaction involving the proceeds of illegal activity;
6. transmit or upload any virus, worm, or other malicious software or program;
7. attempt to gain unauthorized access to the Company website, or any related networks or systems;
8. use the Token Services on behalf of any third party or otherwise act as an intermediary between the Company and any third parties;
9. collect any information from Mint/Redeem Users or Holding Users, including, without limitation, email addresses;
10. defame, harass, or violate the privacy or intellectual property rights of the Company, any Holding Users or Mint/Redeem Users; or
11. upload, display or transmit any messages, photos, videos or other media that contain illegal goods, violent, obscene or copyrighted images or materials,\
    (together, the “**Restricted Activities**”).

    ## **18.** **Prohibited Transactions**

Using the Tokens or the Token Services for transactions related to the following is prohibited, and the Company reserves the right to monitor and, if appropriate, block or otherwise prevent transactions that relate to:

1. any Restricted Persons or persons or entities located in Restricted Territories and Prohibited Jurisdictions;
2. weapons of any kind, including but not limited to firearms, ammunition, knives, explosives, or related accessories;
3. controlled substances, including but not limited to narcotics, prescription drugs, steroids, or related paraphernalia or accessories, unless licensed and authorized by the jurisdiction in which the User is based as well as by the jurisdiction in which the transaction takes place;
4. gambling activities including but not limited to sports betting, casino games, horse racing, dog racing, games that may be classified as gambling (i.e. poker), or other activities that facilitate any of the foregoing, unless licensed and authorized by the jurisdiction in which the User is based as well as by the jurisdiction in which the transaction takes place;
5. money-laundering or terrorist financing;
6. any sort of Ponzi scheme, pyramid scheme, or multi-level marketing program;
7. goods or services that infringe or violate any copyright, trademark, or proprietary rights under the laws of any jurisdiction;
8. credit repair services, or other services that may present consumer protection risks;
9. court ordered payments, structured settlements, tax payments, or tax settlements;
10. any unlicensed money transmitter activity;
11. layaway systems, or annuities;
12. counterfeit goods, including but not limited to fake or “*novelty*” IDs;
13. wash trading, front-running, insider trading, market manipulation or other forms of market-based fraud or deceit;
14. purchasing goods of any type from “Darknet” markets, or any other service or website that acts as a marketplace for illegal goods (even though such marketplace might also sell legal goods); or
15. any other matters, goods, or services that from time to time we communicate to you that are unacceptable and which, for example, may be restricted by our and your bank or payment partners,\
    (together, the “**Prohibited Transactions**”).

In the event that the Company learns you are making any such Prohibited Transactions, the Company will consider it to be a violation of these Token Terms and may also suspend or terminate your status as a Mint/Redeem User, which can result in the potential forfeit of any US Dollar funds otherwise eligible for redemption.

## **19.** **Taxes**

It is your responsibility to determine what, if any, taxes apply to the payments you make or receive, and to collect, report, and remit the correct tax to the appropriate tax authority. The Company is not responsible for determining whether taxes apply to your transaction, or for collecting, reporting, or remitting any taxes arising from any transaction.

## **20.** **Indemnification and Release**

You agree to indemnify and hold the Company, its affiliates, and service providers, and each of their officers, directors, agents, joint venturers, employees, and representatives (each an “**Indemnified Person**”) harmless from any claim or demand (including attorneys’ fees and any losses, fines, fees or penalties imposed by any regulatory authority) arising out of your breach of these Token Terms, your use of the Token Services (if you are a Mint/Redeem User) and of the Platform, your violation of any law or regulation or your holding or use of the Token.

For the purpose of this Section, the term “*losses*” means all net costs reasonably incurred by an Indemnified Person which are the result of the matters set out in this Section and which may relate to any claims, demands, causes of action, debt, cost, expense or other liability, including reasonable legal fees (without duplication).

If you have a dispute with one or more Users or third parties, you release each Indemnified Person (jointly and severally) from all claims, demands, and damages (actual and consequential) of every kind and nature arising out of or in any way connected with such disputes.

## **21.** **Limitation of Liability. No Warranty**

YOU EXPRESSLY UNDERSTAND AND AGREE THAT THE COMPANY AND OUR AFFILIATES AND SERVICE PROVIDERS, AND THEIR RESPECTIVE OFFICERS, DIRECTORS, AGENTS, JOINT VENTURERS, EMPLOYEES, AND REPRESENTATIVES WILL NOT BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, EXEMPLARY DAMAGES, OR DAMAGES FOR LOSS OF PROFITS INCLUDING BUT NOT LIMITED TO, DAMAGES FOR LOSS OF GOODWILL, USE, DATA, OR OTHER INTANGIBLE LOSSES (EVEN IF THE COMPANY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES), WHETHER BASED ON CONTRACT, TORT, NEGLIGENCE, STRICT LIABILITY, OR OTHERWISE, RESULTING FROM: (I) THE USE OR THE INABILITY TO HOLD OR USE THE TOKENS; (II) THE COST OF PROCUREMENT OF SUBSTITUTE GOODS AND SERVICES RESULTING FROM ANY GOODS, DATA, INFORMATION, OR SERVICES PURCHASED OR OBTAINED OR MESSAGES RECEIVED OR TRANSACTIONS ENTERED INTO INVOLVING THE TOKENS; (III) UNAUTHORIZED ACCESS TO OR ALTERATION OF YOUR TRANSMISSIONS OR DATA; OR (IV) ANY OTHER MATTER INVOLVING THE TOKENS.

SOME JURISDICTIONS DO NOT ALLOW THE EXCLUSION OF CERTAIN WARRANTIES OR THE LIMITATION OR EXCLUSION OF LIABILITY FOR INCIDENTAL OR CONSEQUENTIAL DAMAGES. ACCORDINGLY, SOME OF THE LIMITATIONS SET FORTH ABOVE MAY NOT APPLY TO YOU. IF YOU ARE DISSATISFIED WITH TOKENS, YOUR SOLE AND EXCLUSIVE REMEDY IS TO DISCONTINUE HOLDING AND USE OF THE TOKENS.

THE TOKENS ARE PROVIDED "AS IS" AND WITHOUT ANY REPRESENTATION OR WARRANTY, WHETHER EXPRESS, IMPLIED OR STATUTORY. THE COMPANY, OUR AFFILIATES, AND OUR RESPECTIVE OFFICERS, DIRECTORS, AGENTS, JOINT VENTURERS, EMPLOYEES, AND SUPPLIERS SPECIFICALLY DISCLAIM ANY IMPLIED WARRANTIES OF TITLE, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE OR NON-INFRINGEMENT. THE COMPANY MAKES NO WARRANTY THAT (I) THE TOKENS WILL MEET YOUR REQUIREMENTS, (II) THE TOKENS WILL BE UNINTERRUPTED, TIMELY, SECURE, OR ERROR-FREE, OR (III) THE QUALITY OF ANY PRODUCTS, SERVICES, INFORMATION, OR OTHER MATERIAL PURCHASED OR OBTAINED BY YOU WILL MEET YOUR EXPECTATIONS.

## **22.** **Force Majeure**

The Company shall have no liability for any failure or delay resulting from any condition beyond our reasonable control, including but not limited to governmental action or acts of terrorism, earthquake, fire, flood, or other acts of God, labour conditions, power failures, equipment failures, and Internet disturbances.

## **23.** **Amendments**

The Company may amend any portion of these Token Terms at any time by posting the revised version of these Token Terms with an updated revision date. The changes will become effective, and shall be deemed accepted by you, the first time you access or use the Tokens, the Token Services or the Platform after the initial posting of the revised Terms and shall apply on a going-forward basis with respect to transactions initiated after the posting date. In the event that you do not agree with any such modification, your sole and exclusive remedy is to terminate your use of the Token Services. You agree that we shall not be liable to you or any third party as a result of any losses suffered by any modification or amendment of these Token Terms.

If the revised Terms include a material change, we will provide you with prior notice via our website and/or email before the material change becomes effective. For this purpose a “material change” means a significant change other than changes that (i) are to your benefit, (ii) are required to be made to comply with applicable laws and/or regulations or as otherwise required by one of our regulators, (iii) relates to a new product or service made available to you, or (iv) otherwise clarifies an existing term.

## **24.** **Assignment and Third-Party Holders**

You may not transfer or assign these Token Terms or any rights or obligations hereunder, by operation of law or otherwise and any such attempted assignment shall be void, subject to the following exception. Sending the Tokens to an address will automatically transfer and assign to that Token holder, and any subsequent Token holder, the right to redeem the Tokens so long as the Token holder is eligible to, and does, register as a Mint/Redeem User.

We reserve the right to freely assign these Token Terms and the rights and obligations of these Token Terms to any third party at any time without notice or consent. If you object to such transfer or assignment, you may stop holding and using the Tokens; further if you are a Mint/Redeem User, you may also stop using our Token Services, and terminate these Token Terms by contacting the Support Team and asking us to terminate your status as a Mint/Redeem User.

## **25.** **Survival**

Upon termination of these Token Terms (and termination of your status as a Mint/Redeem User, if you are a Mint/Redeem User), all rights and obligations of the parties that by their nature are continuing will survive such termination.

## **26.** **Website and Third Party Content**

The Company and its affiliates and service provider strives to make accurate and reliable information and content available, including on the Platform, but such information may not always be correct, complete, or up to date. The Company will update the information on the Platformas necessary to provide you with the most up to date information, but you should always independently verify such information. The Company website may also contain links to third-party websites, applications, events or other materials (“**Third Party Content**”). Such information is provided for your convenience and links or references to Third Party Content do not constitute an endorsement by the Company of any products or services. The Company shall have no liability for any losses incurred as a result of actions taken in reliance on the information contained on the Company website or in any Third Party Content.

## **27.** **Governing Law and Arbitration**

These Token Terms shall be governed by and construed in accordance with the laws of the British Virgin Islands. Any dispute, controversy or claim arising out of or relating to these Token Terms or the breach, termination or invalidity thereof, the Token, or the Token Services, shall be settled by arbitration in accordance with the BVI IAC Arbitration Rules\[1] \[DM2] . The number of arbitrators shall be one. The place of arbitration shall be Road Town, Tortola, British Virgin Islands, unless the Parties agree otherwise. The language to be used in the arbitral proceedings shall be English.

## **28.** **Entire Agreement**

The failure of the Company to exercise or enforce any right or provision of these Token Terms shall not constitute a waiver of such right or provision. If any provision of these Token Terms shall be adjudged by any court of competent jurisdiction to be unenforceable or invalid, that provision shall be limited or eliminated to the minimum extent necessary so that these Token Terms shall otherwise remain in full force and effect and remain enforceable between the parties, except as specified in this Section. Furthermore, if any portion of these Token Terms, whether in whole, or in part, shall be adjudged by any court of competent jurisdiction to be unenforceable or invalid against certain persons or categories of persons that are purportedly bound by these Token Terms, such portion of these Token Terms shall otherwise remain in full force and effect and remain enforceable as to any other persons bound by these terms. The headings and explanatory text are for reference purposes only and in no way define, limit, construe, or describe the scope or extent of such section. These Token Terms and the Company’s policies governing the holding or use of the Tokens, the use of the Token Services referenced herein, the Privacy Policy, and the Cookie Policy constitute the entire agreement between you and the Company with respect to the holding or use of the Tokens, and the use of the Token Services. These Token Terms are not intended and shall not be construed to create any rights or remedies in any parties other than you and the Company and other Company affiliates which each shall be a third-party beneficiary of these Token Terms, and no other person shall assert any rights as a third-party beneficiary hereunder.

## **29.** **Communications**

These Token Terms are provided to you and communicated in English. We will also communicate with you in English for all matters related to the Tokens and your use of the Token Services. You agree that we will only provide you with any communications in electronic format. All communications that we provide to you in electronic form will be provided by e-mail, by posting to the website [www.brix.money](http://www.brix.money)), or through other electronic communication such as mobile push notification or text message. It is your responsibility to provide us with an accurate e-mail address and to keep such information up to date.

All electronic communications from us to you will be considered "*in writing*". You should print or download for your records a copy of any other communication that is important to you. You acknowledge and agree that communications are considered received by you within 24 hours of the time posted to the website [www.brix.money](http://www.brix.money)), or within 24 hours of the time emailed to you unless the Company receives notice that the email was not delivered.


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