Terms of Use

1.1.Ashbud operates and provides access to the Ashbud Platform and Ashbud Services.

1.2.By using the Platform or any of the Services you are entering into a legally binding agreement with Ashbud. These Terms govern your use of the Platform and all Services.

1.3.You acknowledge that you must read these Terms carefully and are responsible for telling us if you do not understand anything.

1.4.You expressly agree that you will be bound by and will comply with any additional terms and conditions that apply to your use of the Platform or any of the Services.

2.1.To be eligible to use the Platform and the Services:

• a. you must be an individual, corporation, legal person, entity or other organisation with the full power, authority and capacity to (i) access and use the Platform; and (ii) enter into and comply with your obligations under these Terms, including, in the case of an individual, being of the legal age of majority in your country;
• b. if you act as an employee or agent of a legal entity and enter into these Terms on their behalf, you must be duly authorised to act on behalf of and bind such legal entity;
• c. you must not be located, incorporated, established in, or resident of, or have business operations in a jurisdiction where it would be illegal under applicable law to access or use the Platform, including Cuba, Iran, North Korea, Syria, and Russia.

2.2.We may amend our eligibility criteria at any time at our sole discretion. We will let you know of the change as soon as possible by updating the "Last Updated" date at the top of these Terms. You are responsible for checking these Terms periodically and we may terminate your use of the Platform for any reason at any time.

3.1.Usage of the Platform and Services is provided at our absolute discretion. We reserve the right to refuse any usage of, or restrict your access to, the Platform and Services for any reason, or without reason, at any time.

3.2.You must not take any action or otherwise post, upload or publish to the Platform any abusive, defamatory, dishonest, or obscene message or any messages intended to manipulate a market or to spread false or misleading information, or messages otherwise in contravention of applicable laws. Violating this provision may result in termination of or restrictions on your access to the Platform.

3.3.Ashbud is a non-custodial platform. We do not hold, custody, or control your digital assets at any point. All interactions occur directly on the Solana blockchain through smart contracts. You retain full control of your wallet and assets at all times.

4.1.Fees for use of the Services are set out on our Fees page. Currently, a fee of 1.35% applies to each mint (0.85% to the Ashbud platform and 0.50% to the relevant Index Creator) and a fee of 0.85% applies to each burn (0.85% to the Ashbud platform; no creator fee on burns). A performance fee of up to 25% of realised profit applies when burning index tokens for SOL (100% to the Index Creator); the exact rate is set by the Index Creator at creation time (0–25%) and displayed on each index page. Ashbud reserves the right to change fees at any time in its sole discretion.

4.2.You agree to pay all applicable fees in connection with your use of the Services. You expressly authorise us to deduct all applicable fees from the wallet you connect to the Platform.

4.3.You understand that Ashbud does not control any fees charged by third parties you may use to access the Services (such as Solana network fees or RPC providers), and you are solely responsible for payment of any third-party fees.

4.4.Amending fees: We may adjust our fees from time to time. If you do not wish to accept the changed fees, you must cease use of the Platform. Continued use shall be deemed acceptance of any updated fee schedule.

4.5.Calculations: Any calculations made by Ashbud in connection with your use of the Services — including NAV computations, mint quotes, and deposit bounds — are final and binding on you in the absence of manifest error.

4.6.Creator Fees:

• Each Index Token on the Platform may generate Creator Fees collected by the protocol at the time of mint transactions and paid to the Index Creator at the address they designate. No Creator Fee applies to burns; the burn protocol fee goes entirely to the Ashbud treasury. Ashbud makes no representations or warranties regarding Creator Fees to any user or Index Creator.
• Creator Fees are dependent on network conditions, smart contracts, and third-party infrastructure. Ashbud does not guarantee that Creator Fees will be successfully charged or distributed for any particular transaction and is not liable for on-chain failures, network congestion, or other technical issues that may prevent fee collection or payout.
• Where possible, the Platform will display an estimated breakdown of Creator Fees and platform fees prior to transaction confirmation. The actual fee is determined by the underlying smart contracts and may differ slightly from the displayed estimate due to slippage, network conditions, or rounding.
• Ashbud does not control how Creator Fees are ultimately used or distributed by Index Creators. Any arrangements between Index Creators and third parties are strictly between those parties.
• You are solely responsible for determining and fulfilling any tax obligations related to Creator Fees or other activity on the Platform.
• If you are an Index Creator, you agree to use Creator Fees in compliance with all applicable laws and regulations and not to misrepresent Creator Fee settings, index composition, or related economics to others.

We keep your personal data to enable your continued use of the Platform and Services, including as may be required by law for tax and accounting purposes and compliance with applicable laws and regulations. Our use of your data and your related rights are set forth in our Privacy Notice.

6.1.To access the Platform and Services, you must have the necessary equipment (such as a computer or smartphone) and access to the internet and a compatible Solana wallet. You are responsible for ensuring your devices and software are compatible with the Platform.

6.2.The use of the Platform and other access methods may be subject to such additional terms as we require from time to time and which we will communicate to you.

7.1.Instructions are transactions or commands executed on the Solana blockchain using the Platform and Services. You must ensure that any instruction submitted is complete and accurate. We are not required to verify the accuracy, authenticity, or validity of any instruction and will not monitor or reject instructions on the basis that they are, or appear to be, duplicates. In our sole, absolute discretion, we may refuse to act upon or defer acting upon any instruction.

7.2.You acknowledge and agree that instructions are irrevocable and therefore once an instruction has been submitted you have no right to unilaterally rescind or withdraw it. Your instruction is not deemed received by us until it has been received by our server. Our record of all instructions will be conclusive and binding on you for all purposes.

7.3.By submitting an instruction you are authorising us to initiate transaction(s) using your wallet on the Solana blockchain. If you have insufficient digital assets in your wallet to effect a transaction (including paying all associated fees), we have the right to refuse to effect that transaction. It is your responsibility to hold sufficient digital assets in your wallet.

7.4.You are aware that instructions and information transmitted on the Platform are generally transmitted via the internet and may be routed via public networks that are not specifically protected. We cannot guarantee that instructions and information transmitted will be completely protected against unauthorised access, and you accept the associated risks.

8.1.We do not represent or warrant that any actions by you on the Platform or use of the Services will be completed successfully or within a specific time period. By accessing and using the Platform, you understand that smart contract transactions automatically execute and settle, and that blockchain-based systems are variable — transaction speeds and outcomes may be affected by network conditions at any time.

8.2.Where you execute any transaction with improper intent and/or in the case of manifest error, Ashbud is authorised by you, without penalty or liability, to cancel or void such transaction to the extent possible under applicable law.

8.3.You expressly agree that Ashbud is permitted, but not required, to keep a record of all transaction information related to use of the Platform, for as long as it is required to fulfil its intended purpose or as required by applicable law.

9.1.You understand and agree that neither your relationship with us nor any services we provide to you will give rise to any fiduciary duties on our part, save as expressly set out in these Terms. Ashbud may from time to time act in more than one capacity and in those capacities may receive fees or commissions from more than one user.

9.2.You understand and agree that Ashbud will not be required to: (i) have regard to any information that may constitute a material interest; (ii) disclose any such information to you; or (iii) use any such information for your benefit.

9.3.We have established and maintain appropriate arrangements to identify and manage conflicts of interest. We reserve the right to decline to act for you where we are unable to manage a conflict of interest in any other way.

9.4.You understand that from time to time we may interact with the Platform. We are under no obligation to disclose any of our transactions on the Platform.

Your activity on the Platform and use of the Services may be subject to limits that we shall determine from time to time in our sole discretion.

11.1.You are responsible for taking appropriate action to protect your hardware and data from viruses and malicious software. Ashbud is not responsible for any claim or losses resulting from your failure to maintain the security of your devices or software.

11.2.At all times, you shall maintain adequate security and control of all information used to access the Platform and Services, including by:

• a. strictly abiding by all of our mechanisms or procedures;
• b. never allowing remote access or sharing your computer screen with someone else while logged into the Platform;
• c. remembering that under no circumstances will we ask you to share your private keys, seed phrases, or any authentication credentials. You should never disclose these if asked.

11.3.You are solely responsible for keeping the information used to access the Platform secure against any attacks and unauthorised access.

11.4.You agree that you are required to notify us as soon as possible of any suspicious activity involving the wallet you use to access the Platform. You acknowledge that any security breach may result in unauthorised access to your wallet and the loss or theft of any digital assets.

11.5.If you suspect a security breach, you must: (a) notify us immediately and provide accurate and up-to-date information throughout the duration of the breach; and (b) take any other steps we may reasonably require to reduce, manage, or report the breach.

12.1.Our collection and use of personal data in connection with these Terms, your access to the Platform, and use of the Services is as provided in our Privacy Notice (as updated from time to time). Your personal data will be processed in accordance with the Privacy Notice, which forms part of these Terms.

12.2.You represent and warrant that you have read, understood, and agree to our Privacy Notice, and that you will promptly read any replacement version we provide.

13.1.Users who create Index Tokens ("Index Creators") represent and warrant that the composition and management of their index does not violate any applicable law and does not constitute unlicensed financial advice or investment management in their jurisdiction.

13.2.Index Creators receive a Creator Fee on each mint (0.50%) and a performance fee on profitable burn-for-SOL redemptions (100% of a performance fee set by the creator at 0–25%) as compensation for their role (see our Fees page). No creator fee applies to burns. Ashbud does not guarantee any particular level of usage, fee income, AUM, or investor participation for any index.

13.3.Index Creators are solely responsible for any public statements, marketing materials, or descriptions they make about their Index Tokens. Such statements must be accurate and not misleading. Ashbud is not a party to and does not police communications between Index Creators and their users or investors.

13.4.Index Creators must comply with all applicable laws and regulations in connection with creating and managing Index Tokens, including securities, commodities, AML, and tax requirements, as applicable in their jurisdiction.

14.1.We can make changes to these Terms at any time and your continued use of the Platform constitutes your consent to such changes. Changes will be published on this page and may be notified by other means at our discretion. You are required to check these Terms periodically to ensure you are aware of any changes.

14.2.If you do not wish to accept any updated Terms, you must cease use of the Platform. Continued access to or use of the Platform constitutes acceptance of the updated Terms.

15.1.We may at any time modify or discontinue, temporarily or permanently, any portion or feature of the Platform or Services. In particular, we may: (i) refuse to complete, block, or cancel any action you have undertaken; (ii) terminate, suspend, or restrict your access to any or all of the Platform and Services; and/or (iii) take whatever action we consider necessary, in each case with immediate effect, including where:

• a. you are not, or are no longer, eligible to use the Platform and Services;
• b. we reasonably suspect that information provided by you is wrong, untruthful, outdated, or incomplete, or that you are using the Platform for illegal, fraudulent, or unauthorised purposes;
• c. we are required to do so by applicable law or any court or regulatory authority;
• d. we determine or suspect that you have breached these Terms, or that any activity is unauthorised, erroneous, fraudulent, or unlawful; or
• e. your usage is subject to pending, ongoing, or threatened litigation or regulatory proceedings.

15.2.Our decision to terminate, suspend, or restrict access may be based on confidential criteria essential to our risk management and security protocols. We are under no obligation to disclose these to you.

15.3.Termination of access does not affect any on-chain positions you hold. On-chain Index Tokens and vault positions remain under the control of the relevant smart contracts regardless of your access to the Platform interface.

All intellectual property in the Platform, including its interface, design, branding, and underlying software, shall remain vested in Ashbud. At no point do users of the Platform obtain any right to Ashbud's intellectual property unless expressly provided by these Terms.

We grant you a non-exclusive licence for the duration of these Terms, or until we suspend or terminate your access (whichever is sooner), to use the Ashbud Platform solely as necessary to access and use the Services for non-commercial personal use, in accordance with these Terms.

By using the Platform and Services, and without prejudice to any other restriction set out in these Terms, you agree that you will not:

• a. breach these Terms or any agreement entered into pursuant to them;
• b. use the Platform for commercial purposes, including transactions on behalf of other persons or entities, unless expressly agreed by us in writing;
• c. engage in market manipulation, including wash trading or any activity designed to artificially affect the price or NAV of any Index Token or underlying asset;
• d. engage in fraudulent activities, or cause us to suspect that you have done so;
• e. provide false, inaccurate, or misleading information in connection with your use;
• f. use bots, spiders, or other tools to access or copy data from the Platform in unauthorised ways;
• g. attempt unauthorised access, probe, scan, or test vulnerabilities of the Platform or its smart contracts;
• h. reverse-engineer or otherwise attempt to extract source code or intellectual property from the Platform;
• i. spread malware, spyware, or any software designed to harm systems or users;
• j. use anonymising proxies, spoof IP addresses, or otherwise circumvent our access controls or geographic restrictions;
• k. violate any applicable law or third-party intellectual property or privacy rights; or
• l. access or attempt to access the Platform from any prohibited or sanctioned jurisdiction, including Cuba, Iran, North Korea, Syria, and Russia.

You hereby represent and warrant to us, at all times, that:

• a. all decisions made in connection with these Terms were solely and exclusively based on your own judgement;
• b. you have full power, authority, and capacity to (i) access and use the Platform and Services; and (ii) enter into and perform your obligations under these Terms;
• c. where interacting with Index Tokens, you have independently assessed such tokens and are using no more of your financial resources than is prudent and reasonable given your circumstances;
• d. these Terms constitute valid and legally binding obligations enforceable against you;
• e. if you are a legal entity, you are duly incorporated and validly existing under your jurisdiction's laws; and
• f. your access and use of the Platform will not breach any agreement you are a party to, nor cause any party to breach any applicable law or legal decision.

20.1.The Platform and Services are provided on an "as is" and "as available" basis without any representation or warranty, whether express or implied, to the maximum extent permitted by applicable law. We specifically disclaim any implied warranties of title, merchantability, fitness for a particular purpose, and non-infringement.

20.2.We do not warrant that access to the Platform or Services will be continuous, uninterrupted, timely, or error-free. Delays, service interruptions, and time-sensitive transaction failures may occur due to blockchain conditions or other factors outside our control.

20.3.We make no representations, warranties, or guarantees that price data, NAV calculations, or other content on the Platform is accurate, complete, or current.

20.4.Blockchain technology and DeFi protocols carry inherent risks, including smart contract bugs, oracle failures, network congestion, and loss of funds. You accept these risks by using the Platform.

20.5.Links to third-party websites (including RPC providers, wallets, and Jupiter) are provided as a convenience. We do not control and are not responsible for the content or services available on any third-party sites.

21.1.You agree to indemnify us and hold us harmless from and against any claims, suits, actions, demands, disputes, allegations, or investigations brought by any persons or entities, including third parties and governmental authorities, as well as all liabilities, damages, losses, costs, and expenses (including reasonable legal fees) arising out of or in any way connected with:

• a. your access to or use of the Platform and Services;
• b. your breach or alleged breach of these Terms;
• c. your contravention of any applicable law; and
• d. your violation of the rights (intellectual property or otherwise) of any third party.

21.2.You irrevocably and unconditionally agree to release us from any and all claims and demands arising directly or indirectly out of or in connection with any dispute you have with another user or third party connected with the Platform, Services, or these Terms.

22.1.Ashbud is not responsible for any loss suffered by you or any third party, except where such loss arises solely and directly from our wilful misconduct or actual fraud.

22.2.Our total liability to you under any circumstance will not exceed the amount of fees you paid to us for the transaction giving rise to the claim. This amount shall represent full and final settlement of any claim.

22.3.We are not liable for:

• a. direct or indirect losses arising from actions, delays, market fluctuations, technical failures, third-party behaviour, or smart contract execution;
• b. loss of profits, opportunities, or business due to use or inability to use the Platform;
• c. any error, manifest error, market volatility, or cancellation of a transaction; or
• d. any claim brought more than one year after the cause of action arose.

22.4.We are not liable for malware, phishing, or spoofing attacks. You are responsible for using appropriate security measures and for protecting access credentials to your wallet and devices.

These Terms (including any arbitration agreement) shall be governed by, and construed in accordance with, applicable law. In the event of a dispute, you agree to first contact us in good faith to seek informal resolution prior to initiating any formal proceedings.

24.1.You must comply with all applicable laws, licensing requirements, and third-party rights, including data protection laws.

24.2.These Terms constitute the whole agreement between you and Ashbud with respect to the subject matter hereof.

24.3.You may not assign your rights under these Terms without our prior written consent. We may assign our rights freely.

24.4.If any clause is found invalid or unenforceable, the remainder of the Terms remains in full effect.

24.5.We may record communications with you, including messages, as evidence and for customer support purposes.

24.6.These Terms do not create third-party beneficiary rights.

24.7.We are not liable for delay or failure to perform due to events beyond our reasonable control, including acts of God, war, pandemics, natural disasters, or major technical failures.

24.8.You are responsible for determining and paying all applicable taxes related to your use of the Platform and Services.

24.9.No delay or omission in enforcing rights shall waive future enforcement of any right or provision.

PLEASE READ THIS SECTION CAREFULLY: IT MAY SIGNIFICANTLY AFFECT YOUR LEGAL RIGHTS, INCLUDING YOUR RIGHT TO FILE A LAWSUIT IN COURT. IT CONTAINS PROCEDURES FOR MANDATORY BINDING ARBITRATION AND A CLASS ACTION WAIVER.

25.1.Binding Arbitration. Except for disputes where Ashbud seeks injunctive or equitable relief related to intellectual property, you waive your rights to have disputes adjudicated in court or before a jury. All disputes must be resolved by binding arbitration.

25.2.Informal Dispute Resolution. You must notify us in writing of any dispute within thirty (30) days of its arising. You agree to engage in a good-faith informal resolution process, including at least one telephonic conference, before proceeding to formal arbitration.

25.3.No Class Actions. All disputes must be brought individually. Class arbitrations, class actions, and representative actions are strictly prohibited.

25.4.Severability. If any part of this arbitration clause is found unenforceable, the rest will still apply.

25.5.These arbitration provisions survive the termination of these Terms.

26.1.Ashbud does not provide, operate, or control any digital wallet you use to access the Platform. Wallets are provided by third-party wallet providers (such as Phantom, Solflare, or other Solana-compatible wallets) and are subject to those providers' own terms and conditions, which you are solely responsible for reading and understanding.

26.2.Ashbud has no control over your wallet or the private keys to it. None of the functionality of the Platform requires or will ever request access to your private keys or seed phrase.

26.3.Ashbud is not responsible for the operation or features of any wallet and is not liable for any losses or damage incurred directly or indirectly as a result of using a third-party wallet.

If you have questions, feedback, or complaints about these Terms, please reach out to us through our official channels.

Where necessary, and in accordance with our Privacy Notice, we may contact you via the information you have provided or through your linked social accounts.