Terms of Use

1. Agreement

These Terms govern your access to and use of the Minted marketplace at minted.credit (the Platform), operated by MintedAssociates Corp, a Delaware corporation (Minted, we, us). By accessing the Platform you agree to these Terms. If you are accepting on behalf of an entity, you represent that you are authorised to bind it, and you means that entity.

2. What the Platform is, and what it is not

The Platform is a venue. Institutional borrowers post secured financing requests. A panel of lenders sees those requests and may respond with indicative terms. Borrowers choose which, if any, to pursue.

Minted:

• is not a lender and does not extend credit through the Platform;
• is not a broker, dealer, investment adviser, or investment bank, and does not act as agent for any borrower or lender in respect of any transaction;
• is not a custodian. We never take possession or control of digital assets, never connect to a wallet, and never request a signature or initiate a transfer;
• does not underwrite, endorse, or recommend any borrower, lender, asset, or transaction;
• is not a party to any loan arising from an introduction made through the Platform.

Content on the Platform, including any indicative terms, is not an offer, solicitation, or commitment to lend or to borrow, and is not a recommendation to enter any transaction.

3. Eligibility

The Platform is for institutional and professional counterparties. You represent that you are not a consumer, that you are acting in the course of a business, and that your use is lawful in your jurisdiction. We may decline or withdraw access at our discretion.

4. Nothing is binding until the loan documents are

No response, quotation, indication, acceptance, or communication through the Platform creates a binding obligation to lend or to borrow. A financing obligation arises only under separate loan documentation executed between a borrower and a lender. Those documents govern the transaction in full and prevail over anything on the Platform.

5. Analytics and figures

The Platform publishes measured figures including market depth, an estimated liquidation horizon, historical price falls at stated thresholds, recovery statistics, and coverage sensitivity. These are computed from third party market and blockchain data on a stated methodology, over a stated window, as at a stated time.

They are historical measurements and modelled estimates. They are not forecasts, valuations, credit opinions, or advice. They depend on third party data we do not control and cannot verify, and they embed assumptions that will not hold in every market.

Every lender must reach its own credit decision on its own analysis. Every borrower must reach its own decision on its own analysis or that of its advisers. See the Annex: Risk and No Advice, which sets out the limitations in full.

6. Your submissions

You represent that information you submit is accurate and not misleading, and that you have the authority to submit it.

Where you supply a collateral address, you confirm it is a public address and that you are entitled to disclose it. A confirmed balance evidences that assets exist at that address. It does not evidence ownership, title, absence of encumbrance, or that assets will remain there.

You grant us a non exclusive licence to process, display, and distribute your submission to the panel for the purpose of operating the Platform, as described in the Privacy Policy.

7. Confidentiality and non circumvention

Information you receive through the Platform about another participant is confidential and may be used only to evaluate the transaction it relates to. Terms disclosed by one side are not to be relayed to competing participants. Circumventing the Platform to transact on an introduction it originated, where a separate agreement addresses that conduct, is governed by that agreement.

8. Acceptable use

You will not: scrape, crawl, or systematically extract Platform data; reverse engineer the analytics; submit false or fictitious requests; interfere with the Platform's operation or security; access another participant's data; or use the Platform to breach any law or sanction.

9. Fees

Any fee payable in connection with the Platform or with an introduction it originates is agreed separately in writing with the party concerned. No fee arises from these Terms.

10. Availability

The Platform is provided as is and as available. We do not warrant uninterrupted or error free operation, and we may modify, suspend, or discontinue any part of it at any time.

11. Disclaimers

To the fullest extent permitted by law, the Platform and all content, including all analytics and figures, are provided without warranty of any kind, express or implied, including any warranty of merchantability, fitness for a particular purpose, accuracy, or non infringement. We do not warrant that any figure is accurate, complete, or current, or that any third party data source is.

12. Limitation of liability

To the fullest extent permitted by law, Minted will not be liable for any indirect, incidental, special, consequential, or punitive damages, or for any lost profits, lost opportunity, trading loss, or loss arising from a decline in the value of any digital asset, whether or not foreseeable.

Nothing here excludes liability that cannot be excluded by law, including for fraud or fraudulent misrepresentation.

13. Indemnity

You will indemnify Minted against claims, losses, and reasonable costs arising from your submissions, your breach of these Terms, or any transaction you enter with another participant.

14. No fiduciary or advisory relationship

Nothing in these Terms or in your use of the Platform creates a fiduciary, advisory, agency, partnership, or joint venture relationship between you and Minted. Minted takes no view on the merits of any transaction on the marketplace, and that neutrality is a condition of operating a venue.

15. Intellectual property

The Platform, its content, and its analytics methodologies are owned by Minted or its licensors. These Terms grant no licence except as expressly stated.

16. Governing law

These Terms are governed by the laws of the State of Delaware, without regard to conflict of laws rules, and the state and federal courts located in Delaware have exclusive jurisdiction.

17. Changes

We may amend these Terms by posting an updated version. Continued use after the effective date constitutes acceptance. Where a change is material we will take reasonable steps to notify you.

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Annex: Risk and No Advice

This Annex forms part of these Terms. Where it and the sections above address the same subject, this Annex governs on the detail.

A1. Why this annex exists

The Platform publishes measured figures about collateral: how far its price has fallen, how often, how long it took to recover, how much it costs to sell at size, and how many desks would quote under different structures. Figures of that kind can be mistaken for a recommendation. They are not one. This annex states what they are, what they are not, and what they cannot tell you.

A2. No advice

Minted does not provide investment, financial, legal, tax, or accounting advice, and does not make recommendations.

Nothing on the Platform is a recommendation to lend, to borrow, to buy or sell any asset, or to enter any transaction. Nothing is a credit opinion, a credit rating, a valuation, or an appraisal. Nothing takes account of your objectives, your financial situation, your risk tolerance, or your regulatory position, because we do not know them. You should obtain your own independent advice before entering any transaction.

A3. What the analytics are

Every figure is a historical measurement or a modelled estimate, computed on a stated methodology, over a stated window, as at a stated time.

Price history

Falls are measured on daily closing prices from third party sources. A stated fall means the closing price fell that far from a running high within the stated window.

Intraday moves are excluded

Because measurement is on daily closes, a price that fell through a level inside a session and closed above it does not appear in these figures, even though a live margin call would have fired. Real call frequency is therefore higher than the counts shown. This is the most important limitation stated here.

Recovery

Where we state that a level was recovered, we mean the price traded back to that level within the stated horizon. Falls too recent to have a full horizon behind them are excluded from the count rather than treated as failures to recover.

Repeated falls

Successive falls inside one sustained decline are counted separately, because a borrower called at each step faces a fresh cure period. These are not independent events, and the count is a frequency rather than a probability.

Depth and liquidation horizon

Depth is the dollars required to move price a stated percentage on the bid across cash venues. The estimated liquidation horizon is modelled using a square root market impact relationship against average daily volume. It is a model, and its assumptions will not hold in a stressed market, which is precisely when a liquidation horizon matters.

Coverage sensitivity

Where we state how many additional desks would quote under a different structure, that describes responses observed on this Platform. It is not a market wide statement and it is not a commitment by any desk.

Timing

Figures carry the time at which they were measured. Some refresh periodically. None is a live tick.

A4. What the analytics cannot tell you

• They do not predict. An asset that has never fallen 40% may fall 40% tomorrow.
• The window bounds the claim. A figure measured over one year says nothing about a five year tail. Where an asset has a short history, the deepest fall in that history is not the deepest fall that asset can have.
• They do not assess the borrower. No figure speaks to a counterparty's willingness or ability to pay.
• They depend on data we do not control. Third party sources may be wrong, delayed, or unavailable. We apply filters to exclude implausible readings, but we cannot verify source data.
• A confirmed collateral balance is not title. Reading a public balance shows assets exist at an address at a moment. It does not show ownership, absence of encumbrance, or that they will remain.

A5. Risks of the underlying transactions

Secured digital asset financing carries risks including, without limitation:

• Collateral volatility. Prices can fall far and fast. A fall can trigger a margin call, and a further fall can trigger liquidation, in a period shorter than any cure window.
• Forced liquidation. Collateral may be sold at a time and price not of your choosing, potentially into a market with limited depth.
• Liquidity. Depth is not constant. The assets most likely to require liquidation are the most likely to be illiquid at that moment.
• Counterparty risk. Each participant bears the credit risk of its counterparty. Minted is not a party to any loan, does not guarantee performance, and provides no recourse.
• Custody risk. Custodian failure, insolvency, or operational error may result in loss. Minted does not custody assets and does not select custodians.
• Rehypothecation. Where a structure permits the lender to reuse collateral, the borrower's claim may rank as an unsecured claim against the lender on insolvency. Pledged and rehypothecated structures differ materially in this respect, and the difference is not fully captured by rate.
• Operational and technology risk. Blockchain networks, custodians, and this Platform may suffer outage, error, or compromise.
• Legal and regulatory risk. The treatment of digital assets and of lending against them is unsettled and changing.
• Total loss is possible. You may lose the entire value of collateral pledged, or of principal lent.

A6. Lenders decide for themselves

Every lender must reach its own credit decision on its own analysis. LTV, cure mechanics, pricing, liquidation triggers, custody, and counterparty approval are entirely the lender's own. The Platform supplies the position and the collateral data. It does not supply the decision, and it does not supply a credit view.

A7. No offer

Nothing on the Platform is an offer or solicitation to buy or sell any security or financial instrument, or to enter any transaction, in any jurisdiction where that would be unlawful.

A8. Nothing binds until the documents do

No indication, quotation, or response through the Platform creates an obligation to lend or to borrow. Any obligation arises only under separate loan documentation executed by the parties, which prevails over everything on the Platform. See the Terms of Use.

18. Contact

MintedAssociates Corp · info@minted.credit