Last Updated: 15 September 2025 Please read and agree to the following terms if you, the User, wish to be eligible to participate in Bondhive Ltd.’s maxBTC Beta Program. The maxBTC Mint User Agreement, Privacy Policy, Terms and Conditions, and Risk Disclosures, and Points Program Disclaimer, including any terms defined therein, (collectively the “Terms”) are incorporated herein by reference. BY MINTING MAXBTC YOU ACKNOWLEDGE THAT: YOU HAVE READ, UNDERSTOOD, AND ACCEPTED THE TERMS INCLUDING THAT:
  1. Upon minting maxBTC tokens, you may have no ability to immediately redeem minted maxBTC tokens.
  2. To the extent maxBTC tokens may be redeemed, the redemption value of maxBTC will not equal its minting value due to the following:
    • Assets used to mint maxBTC that are subject to yield-generating strategies including but not limited to delta-neutral strategies. These strategies may underperform, resulting in the total value of maxBTC Reserves being less than the original minting value.
    • The redemption value depends entirely on the actual performance of the underlying reserves and strategies.
    • Past performance of strategies does not guarantee future results. Market conditions, execution risks, and other factors may cause strategies to generate losses.
    • maxBTC has no market price, only an internal NAV based on underlying reserve value.
    • Redemption requires unwinding strategies, which may involve slippage, fees, or delays.
    • Redemption value is variable and depends on strategy performance, reserve liquidity, and execution costs, not a guaranteed pro-rata claim.
  3. Bondhive (or an affiliate designated by Bondhive) commits to making best efforts to:
    • Redeem one (1) maxBTC for the actual current market value of its pro rata portion of the maxBTC Reserves, which may be more or less than the original mint value depending on the performance of the underlying strategy.
  4. By minting or holding maxBTC, users explicitly represent, acknowledge, and agree that:
    • maxBTC represents exposure to decentralized finance protocols that may lose value;
    • The redemption value of maxBTC may be substantially less than the minting amount;
    • Users may lose the value of their original minting assets;
    • No guarantee, warranty, or representation is made regarding the value of maxBTC or the generation of a minimum amount of yield or additional value accruing to maxBTC; and
    • Users assume all risk of loss associated with the underlying strategies, volatility, market and commercial risk, CEX and DEX risk, and market performance.
  5. The maxBTC token is ONLY intended for sophisticated users who fully understand and accept the risks involved in such products, including volatility, strategy execution risk, liquidity constraints, and any additional referenced and known or unknown risks.
  6. User represents and warrants that they are a sophisticated party and fully familiar with the inherent risks involved in cryptocurrencies, smart contracts, centralized and decentralized exchanges, and the transactions contemplated in these Terms (including, without limitation, risk of new financial regulatory requirements, potential loss of money, and risks due to volatility of the price of the minted asset and maxBTC Reserves), and voluntarily takes full responsibility for any such risk.