General Terms of Use

TABLE OF CONTENT

1 Definitions

2 Subject

3 Terms of acceptance and enforceability of the GTC

4 Description of the Service

5 Terms of use of the Platform and Services

6 Terms of use of the User Account

7 Financial conditions

8 Respective obligations of the Parties

9 Liability

10 Repudiation - termination

11 Personal data and cookies

12 Intellectual Property

13 Evidence agreement

14 No right of withdrawal

15 Absence of legal guaranties

16 Miscellaneous

17 Language - Applicable law and jurisdiction

GENERAL TERMS AND CONDITIONS

These General Terms and Conditions as may be updated from time to time (the “GTC”), together with the general terms and conditions of the Company’ Partners, govern the terms upon which the Company (as defined below) shall supply you (the “User”) with the Services (as defined below).

Please read these GTC carefully before you use the Services. These GTC tell you who we are, how we will provide the Services to you, how you and we may change or end the contract, what to do if there is a problem and other important information.

These GTC are concluded between :

a natural or legal person who (i) visits or uses the Company’ website accessible at the url https://vancelian.com/ (the "Site") and/or the mobile application (the “Mobile Application”) and, together with the Site, the “Platform”), in both cases published by the Company and/or (ii) uses the Services that are offered therein, such as those defined in the article entitled "Definitions" of these GTC.

For more information on the Company, publisher of the Site, the User is invited to consult the Site’s legal notice.

Past performance is not indicative of future performance, and investment in Digital Assets presents risks of partial or total capital loss.

Users should carefully consider whether their personal situation and the financial risks they are willing to take by using the Company’ Services such as defined in the article "Description of the Services". Users may want to speak to an independent financial or legal adviser.

The Company and the User are hereafter individually referred to as a "Party" and referred to jointly as the "Parties”.

1. Definitions

In addition to the terms defined elsewhere in these GTC, capitalized terms will have the meanings indicated below, whether in the singular or plural.

API: means the Application Programming Interface that enables sites or applications (developed by a third party or by the Company) to have real-time access to the User's User Account, and thus to the User Wallets thereof and to the Services.
APY: means the Annual Percentage Yield (or projected rate of annual return) applicable to Staked AKTIO Coins and vault Services.
Different APY may be applicable to Users as displayed in the relevant information section of the Mobile Application and/or the Site dedicated to Flexible AND Future vault Services.
Blockchain: means the technology enabling the representation and transmission of, inter alia, Digital Assets and making it possible to keep track of transactions on the latter. Blockchain does not have a single legal definition but generally has the following characteristics:
- identification of each party by means of a cryptographic process;
- the transaction is sent to a network of computers (the "nodes" of the network) whose geographical location is dispersed;
- each "node" hosts a copy of the database in which the history of the completed transactions is recorded. All stakeholders can access it simultaneously;
- the security system is based on a consensus mechanism of all or part of the "nodes" each time information is added. Transactions are validated by "data centres" or "miners". The validated transaction is added to the database as a block of encrypted data (this is the "block" in blockchain);
- decentralized security management is in principle an important barrier to any tampering with transactions. Each new block added to the blockchain is linked to the previous one and a copy is transmitted to all "nodes" of the network. The integration is chronological and presumed to be indelible and unforgeable.
Company: means VANCELIAN.
Custody: means the Service that enables the User to keep its Digital Assets in one (or more) User Wallet(s) or in the Master Wallet, which is provided by the Company using the infrastructure of Fireblocks.
Customer IBAN Account: means the User’s IBAN opened in ModulR.
Digital Assets or Cryptos: means any digital representation of value that is not issued or guaranteed by a central bank or public authority, that is not necessarily attached to legal tender and that does not have the legal status of money, but that is accepted by natural or legal persons as a medium of exchange and that can be transferred, stored or exchanged electronically.

For the purposes of this definition, a "token" is any intangible asset representing, in digital form, one or more rights that can be issued, recorded, stored or transferred by means of a shared electronic recording device that allows for direct or indirect identification of the owner of the asset.

DeFi: means decentralized finance, which is the set of protocols that allow financial investment transactions to be carried out without a trusted third party and therefore on a peer-to-peer basis, thanks to Blockchain and Smart Contract technologies, such as lending and whose counterparties are, in particular but not exclusively, decentralized protocols.
Exchange Master Wallet: means the master corporate wallet the Company have in the Exchange Platforms to perform the exchange of the Digital Assets proposed on the Platform.
Exchange Platforms: means the third-party trading platforms integrated through API within the Platform, e.g. as of the date hereof, Binance, Bitmart or Scrypt.
Fee : refers to an amount in fiat currency owed by the User to the Company for the use of the Services available on the Mobile Application.
Fiat currency: means a legal tender managed by a Central Bank and controlled by a State. The Platform allows Users to proceed to Transactions using EUR or GBP only, depending on their country of residence.
Fireblocks: means Fireblocks Inc, a U.S. corporation with headquarters at 500 7th Ave, New York, NY 10018 allowing deposit, custody and movement of Digital Assets. The Company rely on Fireblocks to offers to Users wallet custody services, private key storage, direct interaction with blockchains, deposit, withdrawal and payment in Digital Assets and wallet balance tracking services (https://www.fireblocks.com/). The User Wallet and the Master Wallet are created within Fireblocks for the Custody of Digital Assets.
- The Company reminds Users that it uses the services of the Fireblocks sub-custodian and that any failure on the part of this service provider shall in no way exempt the Company from its liability to Users in respect of this Service.
Holding of AKTIO: refers to the Service described in Article 4.2.5 herein.
Identifiers: means the combination of a personal identifier (i.e. phone number) and passwords, through a two-factor authentication system (i.e. code send by message) and personal PIN code, allowing access to the User's User Account and the use of the Services within the limits of the rights granted to the User.
Intervention Fees: means an amount in Fiat currency or Digital Assets owed by the User to the Company in respect of any intervention by the Company required or requested by a User and that is related, in whole or in part, directly or indirectly, to an error by the User, for example, in the use of the Services, or to the User's failure to abide by these GTC, or alternatively, (ii) for any other reason indicated in the GTC. The amount of the Intervention Fees corresponds to 0,3 % of the Transaction with a minimum fee of 1.5 EUR (or its equivalent in GBP).
KYC: means "Know Your Customer" or "customer knowledge" obligations of the Company, as well as to notably prevent or detect any attempt or action of fraud, corruption, money laundering or financing of terrorism, and more generally any potentially illicit or fraudulent activity or action.
Locking Wallet: refers to the Service described in Article 4.2.4 herein.
Loyalty Points: refers to the points allocated to each User under the Loyalty Program. The number of Loyalty Points of each User determines their Loyalty Status. The features and conditions for the allocation of Loyalty Points are detailed on the dedicated page of the Platform: https://vancelian.com/memberships.
Loyalty Program: refers to the program described in Article 4.8 of these Terms.
Loyalty Status: refers to the status applicable to each User when using the Mobile Application under the Loyalty Program. There are five Loyalty Statuses (bronze, silver, gold, platinum, or elite), which grant Users specific benefits when using the Services within the Mobile Application. These benefits, which may be modified at any time at the Company's sole discretion, are described in the dedicated section of the Platform: https://vancelian.com/memberships. To move to a higher Loyalty Status, each User must accumulate Loyalty Points.
Master Wallet: the Company’ master corporate wallet in Fireblocks for Digital Assets Custody.
Mimo: means MIMO CAPITAL AG, a company incorporated in Liechtenstein with its registered office at Alvierweg 17, 9490 Vaduz, Liechtenstein, registered under number FL-0002.584.786-1, operating a decentralised DeFi platform.
Modulr: means:
- Modulr FS Limited, a company incorporated in England with its registered office at Scale Space, 58 Wood Lande, London W12 7RZ, registered in England under number 09897919 ("Modulr FS UK"), which is an entity authorized and regulated as an "Electronic Money Institution" by the Financial Conduct Authority (Firm Reference Number: 900573)
- Modulr Finance B.V., a company incorporated in the Netherlands with is registered office at Weteringchans 165C, 1017XD Amsterdam, registered in the Netherlands under number 81852401 (“Modulr NL”), which is licensed and regulated by De Nederlandsche Bank as an Electronic Money Institution (R182870),
- Modulr Finance Limited, a company incorporated in England with its registered office at Scale Space, 58 Wood Lane, London W12 7RZ, registered in England under number 09897957 ("Modulr Finance UK"), which is an entity authorized and regulated as an Electronic Money Institution by the Financial Conduct Authority (Firm Reference Number: 900699), is a registered EMD agent of Modulr FS UK,
- Modulr Finance, BV, the Permanent Establishment of Modulr NL in France with its registered office at 54, rue de Londres, 75008 Paris (“Modulr FR”), which is registered with the French Banque de France to offer electronic money service via Modulr NL licence as an Electronic Money Institution, and
- Modulr NL offers its customers account creation and maintenance services and related payment services (https://www.modulrfinance.com/). Modulr NL is also a member of the Visa network and can issue bank cards.
- The Company introduces Users to Modulr when they wish to open a Payment Account directly with Modulr and deposit or withdraw Fiat Currencies, and make payments to or from this Payment Account, via bank transfer or payment card. A Payment Account and an IBAN are created for each User.
Partners: means Modulr, Fireblocks and Stripe.
Payment Account: refers to the payment accounts of the Company opened with ModulR NL.
Payment Cards: means payment cards which may be pre-ordered, ordered and used pursuant to article 4.2.6 of these GTC;
Payment Cards Fees: means an amount in Fiat currency owed by the User to the Company for the pre-order, order and/or use of the PaymentCards available on the Platform. PaymentCards Fees are available on the Platform via the following section: https://www.vancelian.com/memberships/ .
Platform: means the website accessible at the URL address https://www.vancelian.com/ ("Site") and/or the related mobile application ("Mobile Application"), in both cases published by the Company.
Price (of a Digital Asset): means the value of a Digital Asset, expressed in EUR or GBP on the dashboard of the User’s User Account, according to supply and demand on all Exchange Platforms, and updated in near real time. As such, by default, the Company cannot state in advance the Price of a Digital Asset or guarantee the future Price of a Digital Asset or the stability of that Price over time. The Price of a Digital Asset at a moment “T” is indicated on the Platform, but this indication does not prejudge the Price of the said Digital Asset upon the performance of a Transaction.
Recurring Purchase: Refers to the periodic order to purchase Digital Assets issued by the Client. By opting for Recurring Purchase, the Client instructs Vancelian to buy Digital Assets at the frequencies determined by the Client. In practice, it is also referred to as "Dollar Cost Average (DCA)."
Referral Program: refers to the program described in Article 4.9 of these Terms.
Restricted Party: means a person that is (i) listed on, or owned or controlled by a person listed on, or acting on behalf of a person listed on, any Sanctions List (ii) located in, incorporated under the laws of, or owned or (directly or indirectly) controlled by, or acting on behalf of, a person located in or organised under the laws of a country or territory that is the target of country-wide or territory-wide Sanctions; or otherwise a target of Sanctions, i.e. a person with whom a US person or other national of a Sanctions Authority would be prohibited or restricted by law from engaging in trade, business or other activities.
Sanctions: means any economic or trade sanctions laws, regulation, embargoes, or restrictive measures administered, enacted, or enforced by (i) the United States (ii) the United Nations (iii) the European Union; and/or any sanctions regulations or laws administered by other governmental or regulatory bodies which are applicable to the Company or its Partners.
Sanctions Lists: means lists which are prescribed by governmental and/or regulatory authorities for the purpose of Sanctions or any similar list maintained by, or public announcement of Sanctions designation made by, any of the Sanctions Authorities.
Smarts contracts: means in a simplified way smart contracts or applications allowing the automated execution of contracts.
Stablecoins: means a type of Digital Assets designed to maintain a stable value by being pegged to a specific asset or a basket of assets, such as Fiat currencies like the US dollar or commodities.
Staking or Staked or Stake: means the process of locking AKTIO Coins during a period of time to benefit from AKTIO interests (being AKTIO Coins) on the Mobile Application. Staking programs may be permanent or promotional, i.e., be made available by the Company from time to time (as decided by the Company in their sole and absolute discretion).After October 21, 2024, Users can no longer subscribe to the Staking Service as described herein
Stripe: means Stripe Payment Europe, Ltd. (SPEL), a company incorporated in Ireland with its registered office at the One Building, 1 lower Grand Canal Street, Dublin, D02 DH59, Ireland, offering online payment services under the “Stripe” brand.
Token AKTIO: means a decentralised, peer-to-peer currency for international transaction settlement, issued by AUTOMATA ICO LIMITED, , a company incorporated in Ireland with its registered office at 3rd Floor Ormond Building, 31-36 Ormond Quay Upper, Dublin 7, D07 Ee37, Irland, registered in Ireland under number 690280 (“Automata ICO Limited”), which facilitates or provides access to advantages and discounts on the Services offered by the Platform.
Transaction: means any transaction performed at the User's request via her/his User Account and involving Digital Assets, AKTIO Coin or Fiat currencies.
User Account: means the User's User Account (or account) on the Platform, accessible by the User via the Site and/or the Mobile Application using her/his Identifiers. The User Accounts are an integral part of the Site and/or the Mobile Application.

2. Subject

The Company have developed the Platform through which the Company present the Services that they offer and notably to make available to Users, via this interface, the Site and/or the Mobile Application open to the general public allowing its Users to deposit and withdraw Fiat currencies, make Transactions, as well as to acquire, deposit and exchange Digital Assets and AKTIO Coins, all within the single Platform. The Services, as described in these Terms and Conditions, are only available on the Mobile Application.

The Platform is also intended to provide Users with information in order to discover the activity of the Company, its news (events, publications, etc.) and tutorials to guide them in their use of the Platform. It also proposes features and/or information that enable the Users to contact the Company. The Platform also provide from time-to-time access to educational information and resources which are for general information only and not intended to be financial advice.

These GTC define the Platform access conditions, as well as the conditions of its use and of the online content offered therein, as well as of its features. These GTC also govern the delivery of Services to the User in return for the User's compliance with the obligations and guarantees stipulated in these GTC.

It is specified that these GTC are the only contractual documents enforceable against the Company, thereby excluding any other document (prospectus, summary information document, video supports, presentation of Services, information on Digital Assets, etc.) that are only for information and non-contractual purposes, and to the exclusion of all other possible conditions of service, sale or purchase of the User that can in no way be enforceable against the Company.

By way of exception, the Mining Program is now subject to specific terms and conditions referred to as the CGUPM, as defined below, to which express reference is made with regard to this specific Service.

Similarly, the Exclusive Offers Service is subject to specific conditions entitled "General Terms of Use for Exclusive Offers" or "CGUOE", to which express reference is made regarding this specific Service.

Users should also carefully read the general terms and conditions of the Company Partners, which (i) apply to the services provided by each Partner in connection with the use of the Platform and (ii) are made available on the User Account to the extent possible. If Users want to have access to the most recent version of the general terms and conditions of the Company Partners, the Company recommend consulting the Company Partners’ websites on a regular basis.

3. Terms of acceptance and enforceability of the GTC

3.1 Conditions for Acceptance and Application of these T&Cs

Any User accessing the Platform is required to read these GTC, that can be accessed and downloaded via the "General Terms and Conditions" section on all pages of the Platform and must respect the terms thereof.

The GTC and the content of these sections can also be communicated by the Company by e-mail upon request by the User to support@vancelian.com.

These GTC are formally accepted by the User when (i) accessing the Platform and (ii) creating her/his User Account.

The Company reserve the right to adapt or modify these GTC at any time, without notice. Any new version posted online will prevail over any previous version, notably printed or saved in digital or paper format by the User. The User is therefore invited to review and read these GTC on a regular basis. The applicable version of the GTC is the one accessible online while the User is visiting and using the Platform.

The Company reserve the right to make any changes to these GTC, at their sole discretion. Your continued use of the Site after any such changes, with or without having explicitly accepted the new GTC, shall constitute your consent to such changes.

If you do not agree to such changes, you have no right to obtain information, use the Services, or access to the Site and must immediately cease use of it.

Users declare and acknowledge to remain responsible for verifying regularly these GTC in their current and in effect version from time to time, an up-to-date version of which may be retrieved at any time on the Site.

The User who does not wish to accept the new GTC can repudiate them and delete her/his User Account, under the conditions indicated below.

The User declares and acknowledges that s/he is of legal age (i.e., at least 18 years old) and has full legal capacity to enter into commitments under these GTC.

These GTC are concluded for an indefinite period.

The User acknowledges her/his awareness of the nature, purpose and characteristics of the Platform and Services, as well as of the prerequisites for their use, notably the conditions relating to the creation of a User Account. S/he acknowledges having requested and obtained all necessary information, notably with regard to the quantitative and qualitative characteristics of the Services, enabling her/him to assess the suitability of the Services for her/his needs and to enter into the GTC with full knowledge of the facts. The User is solely responsible for the choice to use the Platform and the Services, as well as to perform Transactions, so that the responsibility of the Company cannot be pursued in any way in this respect.

3.2 Expiry of the Migration Contract

As part of a Migration operation (as defined below), on December 31, 2024, Users holding AKTIO Tokens stored via the Mobile Application expressly or tacitly authorized the Company to carry out, on their behalf and for their account, two exchanges (the “Migration Contract”): the exchange of their AKTIO tokens for USDC through participation in a buyback and cancellation offer for AKTIO Tokens to be initiated by Automata ICO Limited, and the exchange of the received USDC for newly issued tokens (the “VNC Tokens”) by a new issuer (the “Migration”).

However, given that (i) the VNC Tokens have not been issued by a new issuer, and (ii) the buyback and cancellation offer for AKTIO Tokens has not been initiated by Automata ICO Limited, Users expressly acknowledge the expiry of the Migration Contract in all its provisions.

3.3 Terms of Acceptance and Application of the CGUPM

As part of the development and enhancement of the Mining Program (as described below) offered on the Platform, Vancelian Ltd, a company based in the United Arab Emirates (private company limited by shares) with its registered office at 1133Register28, 11th Floor, Al Maqam Tower, Abu Dhabi Global Market Square, Abu Dhabi, Al Maryah Island, United Arab Emirates, and registered with the Abu Dhabi Global Market under number 23815 ("VANCELIAN LTD"), has been established specifically for this activity.

This change in the entity responsible for the Mining Service constitutes a technical evolution of the Vancelian ecosystem. This modification does not result in any price increase or alteration in the quality of the Services offered.

The Mining Program as described herein is now subject to specific terms and conditions for the mining program ("CGUPM"), which are accessible and downloadable under the "terms and conditions of the mining program" section on all pages of the Platform, and which are expressly referenced.

The CGUPM must be expressly accepted in accordance with the applicable regulations.

In the absence of express acceptance of the CGUPM before May 25, 2025, by users who subscribed to the Mining Program between September 24, 2024, and December 31, 2024, such Users are deemed to have given their tacit consent if they have not terminated these Terms and Conditions within the given time frame.

Furthermore, for these Users, any use of the Services described herein after the May 25, 2025, will constitute express acceptance of the CGUPM retroactively.

Regarding Users who subscribed to the Mining Program before September 24, 2024, and have not expressly agreed to the CGUPM, they will remain subject to the provisions that were applicable to them under these Terms and Conditions.

4. Description of the Services

4.1 Services accessible without creating a User Account

The home page (https://www.vancelian.com/) and certain pages of the Platform can be accessed by all Users. These pages are intended to provide Users with information about the activities of the Company, their news (events, publications, etc.) and tutorials intended to guide them in their use of the Platform and the Services. The Platform also proposes features and/or information that enable Users to contact the Company.

However, certain pages of the Platform and certain Services are only accessible to Users who have previously created a User Account.

4.2 Services requiring the creation of a User Account

The benefit and use of the Services described below require the creation of a User Account by the User, notably in accordance with the provisions of the article "Creation of a User Account" of these GTC.

4.2.1 Access to and use of a User Account

When accessing the Platform and after having created a User Account in accordance with the provisions of the article "Creation of a User Account", the User shall have access to the said User Account.

4.2.2 Performance of Transactions

The User engages the Company to provide the Platform, his/her User Account and the User Wallets and to execute orders placed through the Platform for buying and selling Digital Assets or AKTIO Coins.

The acceptance of orders is solely on an execution-only basis. Orders are only accepted if placed on or through the Platform. The Company is under no obligation to execute orders placed by other means (telephone, email or other electronic communication).

By clicking on “Buy” or “Sell”, Users are giving an order to the Company to use any of the Digital Assets, AKTIO Coins and/or Fiat Currencies custodied within the User Wallet and/or Master Wallet and/or held in the Customer IBAN Account and/or the Company IBAN account in order to carry out the Transactions by virtue of these GTC.

Any Transactions ordered by Users are executed against one of the Company (depending on the location of the Users) so that when:

buying Digital Assets or AKTIO Coins Price is due by the User to the relevant Company and Digital Assets or AKTIO Coins delivery is proceeded by the relevant Company;
selling Digital Assets or AKTIO Coins Price is paid to the User by the relevant Company and Digital Assets or AKTIO Coins are delivered to the relevant Company;
exchanging Digital Assets or AKTIO Coins against other Digital Assets or AKTIO Coins, the relevant Digital Assets or AKTIO Coins are cross-delivered between the User and the relevant Company.

Although, the Company are the only counterparties to Transactions ordered by Users, the Price to which Transactions are executed is provided by the Exchange Platforms. In this respect, the Company shall not be responsible for any misrepresentation of market Prices which is made by the Exchange Platforms.

The User formally acknowledges that when he or she is buying or exchanging Digital Assets or AKTIO Coins on the Platform, the Company may proceed to such Transactions - at the market Prices - through either (i) the Exchange Platforms or (ii) the Company directly, when the requested Digital Assets or AKTIO Coins are held by the Company in their own Digital Assets or AKTIO Coins reserves.

On the Platform, the User may request and proceed to the following Transactions:

Fiat currency deposit Transactions,
Cryptos/Fiat currency Transactions,
Cryptos/Cryptos Transactions,
Withdrawal Transaction in Fiat currency,

These GTC grant permission for the Company to access, making Transactions and operate the User Account of the Users on the Users’ behalf.

Recurring Purchases of Digital Assets

As part of Recurring Purchases, Vancelian executes, on behalf of and for the account of the Client, orders for Digital Assets at a frequency and for an amount previously defined by the Client, expressed in euros or USDC.

The frequency chosen by the Client corresponds to the interval at which their orders are executed and may be daily, weekly, or monthly.

In the event of an insufficient balance in the Client’s Vancelian account, the Recurring Purchase order will be deemed automatically canceled. The Client remains solely responsible for the interruption of their order’s execution, regardless of the cause.

Any delay in the execution of an order—particularly, but not limited to, due to insufficient balance or a rejection from the Client’s bank—does not exempt the Client from their responsibilities. The Client acknowledges and agrees that the execution of the order remains subject to fluctuations in the Digital Asset market, and that the purchase will only take effect upon order validation.

The Client may modify, suspend, or cancel a Recurring Purchase order at any time directly from their personal area on the Vancelian Platform.

4.2.3 Staking

This section, relating to the staking service, has been removed due to the permanent discontinuation of this service as of 21/10/2024. For any request concerning rights or operations prior to this date, you may contact our support team.

4.2.4 Locking Wallet Service

Each User can decide to lock the AKTIO Tokens they hold in their User Digital Wallet, provided that these tokens are not Staked, in order to be allocated Loyalty Points (the “Locking Wallet” Service). The User has the choice between two different locking durations: three (3) months or twelve (12) months, which grant different amounts of Loyalty Points.

Once the selected locking duration and the number of AKTIO Tokens to lock are validated by the User, they will have access to their locking wallet corresponding to a given locking duration. In other words, a User wishing to lock half of the AKTIO Tokens they hold for a duration of three (3) months and the other half for a duration of twelve (12) months will see two locking wallets appear in the Mobile Application.

The number of Loyalty Points allocated to the User will vary based on the volume of AKTIO Tokens in their locking wallet.

4.2.5 AKTIO Holding Service

Each User holding AKTIO Tokens in their User Digital Wallet that are not mobilized or locked in the context of any other Service will be allocated Loyalty Points based on the volume of AKTIO Tokens held in their User Digital Wallet (the “AKTIO Holding” Service).

The number of Loyalty Points allocated to the User will vary based on the number of AKTIO Tokens held in their User Digital Wallet.

4.2.6 Flexible Vault Service

The Flexible Vault Services consist of the provision by the Company of a service allowing Users to deposit EURO or crypto-assets (the type of authorized crypto-asset will be specified on the dedicated page of the Application) into a digital vault, which are pooled and diversified investment vaults (the "Flexible Vault") aimed at participating in several Services offered by the Company following an allocation of the funds related to said vault (the "Flexible Vault Allocation") to generate daily rewards (the "Flexible Vault Service").

Funds deposited into a Flexible Vault are fully converted into EURC and allocated to the Flexible Vault Allocation, which is defined by the Company and displayed on the Service description page. The Flexible Vault Allocation may include a variable share of the following components:

a pooled EURC liquidity pocket shared among all Users subscribed to the Flexible Vault Service;
investment compartments in Exclusive Offers, as defined in Article 4.2.16; and
investment compartments in the Mining Program, as defined in Article 4.2.10.

The composition of the Flexible Vault Allocation is determined daily by the Company through an algorithmic process validated by the internal Management Committee. Rebalancing occurs once per day based on the evolution of compartments and incoming/outgoing flows.

The Flexible Vault Allocation recommended by the Company for each Flexible Vault may change from time to time depending on market conditions. Accordingly, You expressly agree that the Flexible Vault Allocation may be modified in this way. If Users do not agree with the recommended Allocation at a given moment ("T"), they are free to exit the Flexible Vault Service in accordance with the T&Cs. You acknowledge that you have no inherent right for the Flexible Vault Allocation to remain the same as when you made your initial deposit.

The User acknowledges that certain allocation compartments may include less liquid assets, which may slow down rebalancing or liquidity release in the event of high withdrawal demand.

Users may request a withdrawal from their Flexible Vault 24 hours a day, 7 days a week, with no initial lock-up period.

However, the withdrawal request is recorded in an automated queue. If there is sufficient availability in the pooled EURC liquidity pocket, the withdrawal is executed without delay. Otherwise, the request remains pending until new liquidity is replenished through incoming flows or, as an exception, by temporary injection of the Company’s own cash, without any obligation to do so. In such cases, the Company may temporarily hold a portion of the pooled assets until the next rebalancing. Any decision to inject liquidity remains entirely at the Company’s discretion and does not create a precedent or obligation for future requests.

The Company will use its best efforts to process withdrawal requests within an indicative timeframe as shown at the time of the request. This timeframe is purely indicative and does not commit the Company’s liability, especially in the event of exceptional market conditions or temporary liquidity imbalances.

The Company will use its best efforts to ensure that the pooled liquidity pocket can meet withdrawal demands in a timely manner, but this cannot be guaranteed. The User expressly acknowledges that the Company does not guarantee immediate execution of withdrawal requests. Consequently, the User irrevocably waives any claim or liability action against the Company due to delays in processing their withdrawal request.

Note: The Flexible Vault Services allow Users to invest in the Mining or Cloud Mining Program as defined in Article 4.2.10 of these T&Cs, except for the duration clause (i.e. the 48-month lock-up period applicable to Users subscribing directly to the Mining or Cloud Mining Program). In other words, Users who invest in the Mining or Cloud Mining Program through the Flexible Vault Service may request a withdrawal at any time, regardless of the share of the Allocation dedicated to the Mining or Cloud Mining Program, subject to fund availability.

Similarly, while the Flexible Vault Services allow Users to invest in Exclusive Offers as defined in Article 4.2.16 of these T&Cs, the duration provisions of these Exclusive Offers (as defined in the specific Exclusive Offers T&Cs) do not apply to them. In other words, Users who invest in Exclusive Offers through the Flexible Vault Service may request a withdrawal at any time, regardless of the share of the Allocation dedicated to the Exclusive Offers, subject to fund availability.

Interest is paid after each daily rebalancing, based on the portion of the Flexible Vault Allocation actually invested the day before. The initial interest accrual period is between 24 and 48 hours depending on the time of the User's deposit.

The interest rate applicable to each User’s deposit in a Flexible Vault is indicated at the time of deposit on the dedicated Application page. This rate may vary depending on the User’s Loyalty Status and is not guaranteed. It may be modified at any time at the sole discretion of the Company.

The Flexible Vault Allocation recommended by the Company and which must be accepted by Users before using the Flexible Vault Service is specified on the product description page and can be viewed at any time in the “How it works” section of the Platform.

Each User may deposit into a maximum of five (5) Flexible Vaults. This limit may vary depending on criteria defined by the Company.

The minimum deposit and withdrawal amount for a Flexible Vault is specified on the dedicated Application page.

Applicable Fees for the Flexible Vault Service are available on the Platform at the following section: https://vancelian.com/fr/memberships

Loyalty Points may be granted to Users subscribing to the Flexible Vault Service, at the sole discretion of the Company. The details of these Loyalty Points will be visible in the dedicated tab of the Mobile Application.

4.2.7 Future Vault Service

The Futur Vault Services consist of the provision by the Company of a service allowing Users to deposit EURO or crypto-assets (the type of authorized crypto-asset will be specified on the dedicated page of the Application) into a digital vault, which are pooled and diversified investment vaults (the "Futur Vault") aimed at participating in several Services offered by the Company following an allocation of the funds related to said vault (the "Futur Vault Allocation") to generate daily rewards (the "Futur Vault Service").

Funds deposited into a Futur Vault are fully converted into EURC and allocated to the Futur Vault Allocation, which is defined by the Company and displayed on the Service description page. The Futur Vault Allocation may include a variable share of the following components:

a pooled EURC liquidity pocket shared among all Users subscribed to the Futur Vault Service;
investment compartments in Exclusive Offers, as defined in Article 4.2.16; and
investment compartments in the Mining Program, as defined in Article 4.2.10.

The composition of the Futur Vault Allocation is determined daily by the Company through an algorithmic process validated by the internal Management Committee. Rebalancing occurs once per day based on the evolution of compartments and incoming/outgoing flows.

The Futur Vault Allocation recommended by the Company for each Futur Vault may change from time to time depending on market conditions. Accordingly, You expressly agree that the Futur Vault Allocation may be modified in this way. If Users do not agree with the recommended Allocation at a given moment ("T"), they are free to exit the Futur Vault Service in accordance with the T&Cs. You acknowledge that you have no inherent right for the Futur Vault Allocation to remain the same as when you made your initial deposit.

The User acknowledges that certain allocation compartments may include less liquid assets, which may slow down rebalancing or liquidity release in the event of high withdrawal demand.

Users may not withdraw their funds from a Futur Vault before a period of twelve (12) months. However, the daily rewards generated may be withdrawn by the User at any time. Upon expiration of this initial lock-up period, Users may request a withdrawal from their Futur Vault 24 hours a day, 7 days a week.

Note: The Futur Vault Services allow Users to invest in the Mining or Cloud Mining Program as defined in Article 4.2.10 of these T&Cs, except for the duration clause (i.e. the 48-month lock-up period applicable to Users subscribing directly to the Mining or Cloud Mining Program). In other words, Users who invest in the Mining or Cloud Mining Program through the Futur Vault Service may not request a withdrawal of their deposit within twelve (12) months of the initial deposit, regardless of the proportion of the Allocation dedicated to the Mining or Cloud Mining Program, subject to fund availability.

Similarly, while the Futur Vault Services allow Users to invest in Exclusive Offers as defined in Article 4.2.16 of these T&Cs, the duration provisions of these Exclusive Offers (as defined in their dedicated Exclusive Offers Terms and Conditions) do not apply to them. In other words, Users who invest in Exclusive Offers through the Futur Vault Service may not request a withdrawal of their deposit within twelve (12) months of the initial deposit, regardless of the proportion of the Allocation dedicated to the Exclusive Offers, subject to fund availability.

Interest is paid after each daily rebalancing, based on the portion of the Futur Vault Allocation actually invested the day before. The initial interest accrual period is between 24 and 48 hours depending on the time of the User's deposit.

The interest rate applicable to each User’s deposit in a Futur Vault is indicated at the time of deposit on the dedicated Application page. This rate may vary depending on the User’s Loyalty Status and is not guaranteed. It may be modified at any time at the sole discretion of the Company.

The Futur Vault Allocation recommended by the Company and which must be accepted by Users before using the Futur Vault Service is specified on the product description page and can be viewed at any time in the “How it works” section of the Platform.

Each User may deposit into a maximum of one (1) Futur Vault. This limit may vary depending on criteria defined by the Company.

The minimum deposit and withdrawal amount for a Futur Vault is specified on the dedicated Application page.

Applicable Fees for the Futur Vault Service are available on the Platform at the following section: https://vancelian.com/fr/memberships

Loyalty Points may be granted to Users subscribing to the Futur Vault Service, at the sole discretion of the Company. The details of these Loyalty Points will be visible in the dedicated tab of the Mobile Application.

4.2.8 Multiple Crypto-assets Service

On the Mobile Application, the User can use the service for purchasing and holding multiple Crypto-assets on the Mobile Application ("Multiple Crypto-assets Service"), which allows the User to purchase and hold Crypto-assets over time according to a fixed allocation of "thematic" or "crypto bundle" type Crypto-assets proposed by the Company (hereinafter "Allocation").

The User will have access to the minimum amount required by the Company to use the Multiple Crypto-assets Service in the dedicated tab of the Mobile Application.

By clicking on "Deposit" or "Withdraw" in the dedicated tab, the User instructs the Company to proceed with multiple purchases/sales (if deposit or withdrawal in Euros) or multiple exchanges (if deposit or withdrawal in Crypto-assets) immediately according to the defined and fixed Allocation of the chosen theme. The deposit, in one click, diversifies the investment into a bundle of Crypto-assets.

This Allocation is standard and applies to all Users using this Service.

Within the framework of this Service, the User can activate the automatic function, simple rebalancing, which aims to dynamically adjust their Portfolio without human intervention or personalized advice.

The simple rebalancing function, activated at a frequency set by the User (e.g., weekly, monthly), allows the composition of the Portfolio to be brought back to its initial target Allocation. The calculation is arithmetic and is based on the comparison of performance gaps between the different assets composing the Portfolio. Assets that have outperformed are partially sold in favor of those that have underperformed, in a logic of returning to the initial balance.

The Fees applicable to the Multiple Crypto-assets Service are available on the Platform in the following section: https://vancelian.com/en/memberships.

Within the framework of this Service, the Company endeavors to carry out the Transactions requested by the User within a reasonable timeframe. In no case can these Transactions be carried out instantaneously.

When the User chooses to use this Service by clicking on the "Deposit" button, a deposit pending message will be displayed on the screen of the Mobile Application.

Once the Transactions have been completed, the target Allocation will have been achieved, and the effective Allocation will be visible on the screen of the Mobile Application.

A history of all Transactions (deposits and withdrawals) carried out within the framework of the Multiple Crypto-assets Service is made available to the User in a dedicated section.

The withdrawal of Crypto-assets, AKTIO Tokens, and/or Fiat Currencies by the User from the Multiple Crypto-assets Service can be carried out via the "Withdraw" button. For technical reasons, the User is informed and expressly acknowledges that, under these Terms and Conditions, they may not be able to immediately and simultaneously withdraw all assets from the Multiple Crypto-assets Service. Depending on the amount of the deposit, the User will be able to check on the Mobile Application the amount they can withdraw. The User's withdrawal capacity will be updated according to the Transactions/withdrawals carried out.

In the event of the deletion or withdrawal of a Crypto-asset composing the Allocation (i.e., following a delisting or an event affecting its availability), the corresponding part of the Allocation will be automatically converted into USDC, without modifying the other components of the Allocation. The User expressly acknowledges and accepts that this automatic conversion constitutes a technical continuity measure and does not give rise to any claim against the Company.

In any event, your attention is drawn to the fact that the Multiple Crypto-assets Service is likely to involve a risk of loss (partial or total) of the Crypto-assets or Fiat Currency transferred on the instructions of the Users.

The Company's liability is limited to the proper execution of transfer instructions within the framework of the Crypto-assets purchase-sale service.

The Company is not bound by an obligation of result with regard to the execution of the Allocation within the framework of the Multiple Crypto-assets Service and cannot under any circumstances be held responsible for losses suffered due to the selection or updating of Crypto-assets by the Company within the framework of the Allocation.

4.2.9 Payment Card Services

If a User pre-orders, orders, reorders and signs up to use the digital asset-backed and fiat debit card service (“PaymentCard”) the following terms will apply and the User expressly agrees to the terms and conditions provided in these GTC.

a. Partnership with Modulr and Visa

In order to provide the PaymentCard Service to you, we have partnered with Modulr and Visa.

Modulr offers their customers account creation and maintenance services and related payment services in the European Union (https://www.modulrfinance.com/).

Modulr is the issuer of the PaymentCard and is a member of the Visa card schemes ("Visa"), which allows your PaymentCard to operate as a regular Visa debit card.

If Users wish to benefit from the Payment Card Service, they must open a Payment Account directly with Modulr. After that, Users can deposit or withdraw Fiat Currency and make payments to or from this Payment Account, by transfer or Payment Card. The Company acts solely as an external service provider responsible for introducing its Users to Modulr.

Loyalty Points may be awarded to Users upon their first transfer to their Payment Account.

b. Preorder of PaymentCards

Before PaymentCards services become fully available or if PaymentCards are temporarily out of stock, Users may place a pre-order with the Company to receive PaymentCards.

The User is informed that the pre-order of a PaymentCard does not result in immediately receiving the PaymentCard.

The User will be informed by the Company when the PaymentCards services will be available and the timing on which his/her PaymentCard will be delivered.

Categories and details on each PaymentCards are available via the following section: https://vancelian.com/memberships/.

PaymentCards Fees are available on the Platform via the following section: https://vancelian.com/memberships/.

c. Order of PaymentCards

When PaymentCards services have become fully available, Users may place an order with the Company to select, order, receive and use one of the PaymentCards offered on the Platform.

The User is informed that the order of a PaymentCard implies a period of time for the processing of the order and customization of the PaymentCard and a period of time for the delivery before the User can receive and use the PaymentCard.

Categories and details on each PaymentCards are available via the following section: https://vancelian.com/memberships/.

Users can order a PaymentCard only on their legal name as registered with their personal space. Therefore, Users need to make sure their name registered with the Platform is spelled correctly. Users acknowledge and accept that they are only allowed to order and have up to three (3) active Physical PaymentCards and five (5) Virtual PaymentCards per personal space, at the same time, regardless of the User's Loylaty Status.

PaymentCards Fees are available on the Platform via the following section: https://vancelian.com/memberships/.

Users acknowledge and accept that delivery fees may be charged in addition to the order of a PaymentCard. Such delivery fees are expressly mentioned while the User selects and orders a PaymentCard.

d. Use of PaymentCards

To be able to sign up and use the PaymentCard, User must (i) have a fully verified personal space and (ii) be a resident in the Euro Area.

The activation of the PaymentCard and the assignment of a security code (PIN code) may be carried out on the Platform.

Users can only use their PaymentCard at places where Visa credit and debit card payments are accepted.

Users need to make sure to always have sufficient funding as Transactions can only be completed successfully if they have enough funds.

Any payments and Transactions made via the User’s PaymentCard will be facilitated in EUR.

e. Spending limits

Users acknowledge and accept that certain limits (such as but not limited to spending limits, ATM withdrawal limits, the number of Transactions Users may perform within a specific time frame) may be applied.

PaymentCards are subject to the spending and withdrawal limits available via the following section: https://support.vancelian.com/hc/en-gb.

Once the €250,000 limit is reached, the PaymentCard can no longer be used.

These limits are default limits. If no information is entered when setting up the PaymentCard, these figures will be entered by default. These limits can only be decreased when setting up the PaymentCard and may not be extended.

Furthermore, Users acknowledge that such limits may change and/or be amended at any time at the Company’ sole discretion.

f. Transactions History

Once a Transaction has been completed successfully, there will be an entry in your personal space history, showing all Transactions conducted using your PaymentCard. The Company will strive to ensure that the Transactions shown in the personal space history and dashboard are current and accurate at all times. However, due to technical or other issues, discrepancies between the Transactions shown and the actual Transaction might occur. Users hereby acknowledge and accept that the Company will not be liable for any direct or indirect losses resulting out of any discrepancies between your personal space history and the actual Transaction.

If a Transaction fails, the User may receive a notification with instructions on how to proceed. Most payments may fail due to insufficient funds. Users must make sure they have enough funds in the chosen payment asset to cover the payment amount. Users acknowledge and accept that the Company will not be liable for any direct or indirect losses resulting out of any failed Transaction for any reason.

g. Security

It is attempted to keep your PaymentCard as safe as possible. Your PaymentCard should be used carefully and the necessary safety measures and precautions shall be applied.

You must never share your PaymentCard number, CVV, PIN, SMS codes (if applicable) or your secret security question & answer (if applicable) with anyone else.

The Company staff members will never ask for your CVV, PIN, SMS code (neither via phone nor via e-mail nor otherwise) or your secret security question & answer (if applicable). Only you are responsible for keeping your PaymentCard and the credentials of your PaymentCard safe and confidential.

If the PaymentCard is lost or stolen or if the User discovers misuse with the PaymentCard, they must report this immediately on the Company.

Non-careful actions of the User include but are not limited to:

storing the PaymentCard in such a way that third parties can gain unauthorised access to it without considerable effort;
recording the PIN on the PaymentCard;
keeping the recorded PIN together with the PaymentCard;
the use of the PaymentCard and card data for purposes other than payment transactions;
the disclosure of the PaymentCard or card data to third parties, except for the purpose of making a payment. Under no circumstances must the PIN be disclosed.

h. Stolen or lost PaymentCard

If a User loses his/her PaymentCard, or if a PaymentCard was stolen the Company highly recommends to instantly block the PaymentCard on the Platform relevant tab.

If you lose your PaymentCard or it is stolen, or you suspect that someone else has found out your PIN or security information or accessed your User Account without your permission, you must tell us without undue delay by calling us or logging onto your User Account through the Mobile Application and notifying us.

Your PaymentCard will be cancelled immediately and your User Account may be blocked temporarily.

If, after reporting a lost PaymentCard, you subsequently find the PaymentCard you must not use it. Cut it in half through the signature box, magnetic strip and chip.

If you ask us to do so, and provided that you provide information and assistance that we request from you, we will investigate any disputed transaction or misuse of your PaymentCard or User account.

If the investigations show that any disputed transaction was authorised by you, or you have acted fraudulently or with gross negligence (for example, by failing to keep your PaymentCard, security information or PIN secure or by failing to notify us without delay on becoming aware of the loss, theft, misappropriation or unauthorised use of the PaymentCard or User Account), then we will not refund the Transaction amount and you will be fully liable for all losses incurred because of the unauthorised use of the PaymentCard or User Account.

If the investigations show that you have not acted fraudulently or with gross negligence, your maximum loss or liability to us for any unauthorised transaction will be subject to applicable legislation and we will process a refund as soon as possible.

Replacements for stolen or lost PaymentCard may be charged with a service fee from the Company. If you received a replacement for your PaymentCard, Users must destroy and must not use their old PaymentCard.

i. Liability

If we incorrectly deduct funds from your User Account, we will refund them. If we subsequently establish that the refunded amount had in fact been correctly deducted, we may deduct it from your available balance and may charge you a fee.

If unauthorised Transactions occur after you have notified us of the loss, theft, compromise or unauthorised use of your PaymentCard or User Account, and you have not acted fraudulently or in breach of these GTC, then we would be liable.

We will not be liable:

in any event that a merchant refuses to accept your PaymentCard;
for any interruption, disruption or impairment of our service or any third party services on which we rely for the performance of our obligations hereunder;
for refusing to authorise a Transaction;
for cancelling or suspending the use of your PaymentCard or User Account;
for any loss arising from your inability to use your PaymentCard or access your User Account due to interruptions;
for any direct or indirect loss or damage you may suffer, including loss of revenue, loss of reputation, goodwill, opportunity or anticipated savings as a result of your total or partial use or inability to use your PaymentCard, Mobile Application, website or account or the use of your PaymentCard or User Account by any third party (unless otherwise required by law);
for the quality, safety, legality or any other aspect of any goods or services purchased with your PaymentCard; and
any abnormal and unforeseeable circumstances beyond our control, however so caused.

j. Interruption or end of PaymentCard Services

The Company may suspend or cease to offer the PaymentCard Services to Users of the Platform at any time, subject to notification of the conditions of termination and the period within which such services shall cease.

k. Negative balance of the Payment Account

In the event that a negative balance is identified on the Payment Account opened with Modulr, the User is expressly informed that the provisions set out in Article 7.6 of these Terms and Conditions shall apply.

4.2.10 Mining Program

IMPORTANT: The Mining Program as described herein is now subject to specific general terms and conditions of use applicable to the Mining Program (the “CGUPM”), which are accessible and downloadable via the “Mining Program Terms and Conditions” section available on all pages of the Platform.

Pursuant to Article 3.3 hereof, the provisions of these Terms relating to the residual Mining Program shall apply:
(i) before May 25, 2025, to Users who subscribed to the Mining Program prior to the publication of the CGUPM and who have not yet accepted the CGUPM; and
(ii) as of May 25, 2025, to Users who subscribed to the Mining Program before September 24, 2024, and who have not yet accepted the CGUPM.

Users who subscribed to the Mining Program before September 24, 2024, may accept the CGUPM at any time following their publication.

In other words, as of May 25, 2025, only Users who subscribed to the Mining Program before September 24, 2024, and have not yet accepted the CGUPM will remain subject to the provisions herein relating to the residual Mining Program, while all other Users will have given either express or tacit consent to the CGUPM.

The Company has established partnerships with third-party entities to offer a blockchain vault service (referred to as the "Mining Program") on the Mobile Application, as well as through the vault Services. This program utilizes Bitcoin mining to enable Users to invest in mining infrastructure and receive rewards from mining activities alongside the Company. The funds deposited in the Mining Program are allocated to the leasing of high-end mining machines, which are hosted in various mining facilities worldwide.

When a User accesses the Mining Program via the vault Services, as described in sections 4.2.4 and 4.2.5 of these Terms of Use, the funds deposited by the User in the vault are allocated among various investment compartments, including the Mining Program.

When a User accesses the Mining Program through the dedicated tab on the Mobile Application, all funds deposited by the User are allocated entirely to the Mining Program.

The Mining Program may involve different Digital Assets.

For information purposes, Bitcoin mining is a process that involves creating new Bitcoins by using computers to solve mathematical problems through a process known as proof of work ("PoW"). This process requires significant computational power and electricity consumption.

The Mining Program allows Users to earn daily rewards, particularly through Bitcoin mining, via a mechanism known as "cloud mining." Cloud mining enables Users to pool their capital to purchase mining power from mining facilities (the "Price of Computational Power"), allowing them to earn Digital Asset rewards on their investment.

Provisions applicable to Users who paid the Computational Power Price prior to September 24, 2024, and who have not explicitly agreed to the CGUPM. By subscribing to the Mining Program, the User agrees to be committed to the Mining Program for a period of twenty-four (24) months (the “Duration”).

The User of the Mining Program will have access to two distinct Digital Wallets on their User Account: (i) the first Digital Wallet is used for the payment of the Price of Computational Power, which will remain with the Company (in EURC tokens, as defined above) for the entire Term of the Mining Program, and (ii) the second Digital Wallet is intended to hold the daily rewards in Digital Assets (in EURC tokens, as defined above) derived from the Mining Program, which can be withdrawn by the User at any time.

The User acknowledges and agrees that they cannot unilaterally terminate their participation in the Mining Program before the end of the Term.

Provisions applicable to Users who paid the Computational Power Price between September 24, 2024, and December 31, 2024, and who have not explicitly agreed to the CGUPM. By subscribing to the Mining Program, the User agrees to be committed to the Mining Program for a duration of forty-eight (48) months (the “Duration”). Subscription to the Mining Program is available from a minimum amount of one (1) euro.

The User acknowledges and agrees that they cannot unilaterally terminate their participation in the Mining Program before the end of the Term, notwithstanding the exit provisions of the Mining Program outlined below. The release date of the funds is set for the first day of the month following the expiration of the forty-eight (48) month period from the date of the initial deposit.

Provisions applicable to Users who subscribed to the Mining Program after December 31, 2024: After December 31, 2024, the present Mining Program is only accessible through a subscription renewal via the Queue Mechanism (as defined below). In this case, Users entering the Mining Program in this way expressly agree to be committed until December 31, 2028, while retaining the same exit provisions of the Mining Program outlined below.

Exit Provisions of the Mining Program: Subject to the conditions outlined below, the User may terminate their participation in the Mining Program early, either without fee at least twenty-four (24) months after the payment of the Price of Computational Power, or subject to the payment of an Early Exit Fee no earlier than six (6) months after the payment of the Price of Computational Power.

Therefore, any exit from the Mining Program before the end of the Term (or before December 31, 2028) shall occur under the following conditions:

Less than six (6) months following the initial payment of the Price of Computational Power: the User cannot terminate their participation in the Mining Program.
Between six (6) months and twenty-four (24) months following the initial payment of the Price of Computational Power: the User may request an early exit from the Mining Program subject to (i) the payment of a fee of 5% of the total amount of the Price of Computational Power requested for refund (the "Early Exit Fee") and (ii) compliance with the Queue Mechanism (as described below).
Between twenty-four (24) months and forty-eight (48) months following the initial payment of the Price of Computational Power, or until December 31, 2028: the User may request an early exit from the Mining Program without fees, subject to compliance with the Queue Mechanism (as described below).

Functioning of Exit Windows and the Queue Mechanism
Early exits are subject to the Exit Windows and the Queue Mechanism. Exit Windows are specific periods, opened for two (2) weeks each year, once in May and once in November, at the sole discretion of the Company. They allow Users who have subscribed to the Mining Program to request the redemption of their subscription, offering an opportunity for liquidity to Users wishing to terminate their participation in the Mining Program early.

General Principle
Any exit from the Mining Program is subject to the Queue Mechanism. In accordance with this mechanism, the exit will only be authorized insofar as a new liquidity entry by another User into the Mining Program occurs simultaneously, meaning another User enters the Mining Program by proceeding with the payment of the Computing Power Price.

Processing of Exit Requests
Exit requests from the Mining Program are processed on a "first come, first served" basis. Users wishing to exit the Mining Program must submit a request for the redemption of all or part of their subscription to the Mining Program to the Company. Each request is placed in a queue based on the order of receipt. The User who submitted the first exit request will be prioritized, subject to the concomitant arrival of a new entering investor.

Partial or Full Redemption
In the event that an entering User redeems only part of the amount proposed by an exiting User, only the portion redeemed will be processed. The remaining part of the contract will remain in the Queue, awaiting a new redeemer during the next Exit Window.

Queue Management
The management of the Queue is automated and handled by the Company’s technological infrastructure. Redemptions are thus processed in strict compliance with the priority order of exit requests. Each transaction, whether partial or full, is recorded in real-time to ensure the transparency and integrity of the process.

Obligations of the Parties
The User acknowledges and agrees that any exit request from the Mining Program is subject to these terms, and that the redemption of the subscription to the Mining Program depends on the availability of new incoming investors during the Exit Windows. The Company does not guarantee the liquidity of Digital Assets outside of these specific periods and the compliance with the Queue Mechanism. The Company is not liable for any malfunction or failure of the Queue. The Company does not guarantee that the Mining Program will attract enough new Users, nor does it guarantee that the Queue Mechanism will generate the liquidity expected by existing subscriptions in the Mining Program wishing to exit early before the end of its Duration. The lack of appeal of the Mining Program could be attributed to various factors, including an unfavorable economic environment, which could make the Mining Program less attractive in terms of returns.

Provisions common to all Users who have subscribed to the Mining Program and have not explicitly agreed to the CGUPM. The User acknowledges and accepts that the Mining Program involves inherent risks, including the volatility of Digital Assets, regulatory and technological changes, as well as the availability and security of mining operation infrastructure.

The Company undertakes to reimburse the Computing Power Price at the end of the Mining Program. However, the User acknowledges that the Mining Program does not guarantee Digital Asset rewards or potential future gains. Mining rewards will depend on the market conditions applicable under the Mining Program and are in no way guaranteed to the User.

All information presented on the Website is only estimates and depends on many factors.

Please note that the rate applicable to the Mining Program may vary throughout its Duration.

The Company is not liable for any losses suffered by the User due to the volatility of Digital Assets. The User is solely responsible for their decision to participate in the Mining Program.

To ensure the provision of the Mining Program at a reasonable level, the Company will make reasonable efforts to maintain all necessary facilities in good working order, with the same level of diligence applied to its own operations.

The Company reserves the right to suspend or terminate the Mining Program for legal, technological, or technical reasons.

The fees applicable to the Mining Program Service are available on the Platform in the following section: https://vancelian.com/memberships.

Loyalty Points may be awarded to Users who have subscribed to the Mining Program Service at the sole discretion of the Company. The details of these Loyalty Points will be visible in the dedicated tab of the Mobile Application.

4.2.11 Deposit of Digital Assets

The User may deposit Digital Assets directly via the Mobile Application from other cryptocurrency-related platforms, using the technical infrastructure of a third-party service provider (the “Digital Asset Deposit”).

Digital Asset Deposits are only permitted for specific digital tokens and blockchain networks as explicitly listed in the Application. This list may be modified at any time at the sole discretion of the Company. Users must consult the dedicated page in the Application before making any deposit to ensure they are using a supported token and network (e.g., USDC via Ethereum ERC20).

Users may initiate a Digital Asset Deposit by clicking on the relevant buttons, such as “Make a Deposit” or any other equivalent label displayed in the Application.

During their first Digital Asset Deposit attempt, the User will be required to generate a personal Deposit Address, associated with the selected token and blockchain network, which will be used to transfer the digital assets from their external wallet.

The User may then copy their Deposit Address, display a QR code, or share the address. The Deposit Address must be used solely for the specific token and network indicated, and in strict compliance with the instructions provided in the Application.

The User is solely responsible for any error or omission in the process of depositing Digital Assets, particularly in the case of using an unsupported token, incorrect network, or wrong address. The Company cannot be held liable for any loss, damage, or failure to receive the funds resulting from such errors.

In the event of a clear and identifiable user error, the Company may, at its sole discretion, attempt to recover the affected funds and issue a refund, subject to any incurred fees and technical feasibility, and only with manual human intervention. The User expressly acknowledges that they have no automatic right to a refund and agrees to any fees the Company may apply to such operations.

Loyalty Points may be granted to Users upon their first Digital Asset Deposit, unless the User has previously made a deposit of AKTIO tokens.

4.2.12 Deposit of AKTIO Tokens

The User can deposit AKTIO Tokens directly on the Mobile Application (the "AKTIO Token Deposit").

The User can make an AKTIO Token Deposit by clicking on the dedicated "Make a Deposit" button and selecting "AKTIO" as the deposit currency. To complete their AKTIO Token Deposit, the User must follow the detailed process on the Mobile Application.

The User is solely responsible for any errors or omissions in the process of their AKTIO Token Deposit, and the Company cannot be held liable for any damage resulting from such errors or omissions by the User.

If the User makes an error or omission in the process of their AKTIO Token Deposit, the Company may, at its sole discretion, refund the amount of the said AKTIO Token Deposit after deducting the fees incurred for processing this error or omission on a case-by-case basis by human agents. The User acknowledges that they have no inherent right to be refunded for an erroneous AKTIO Token Deposit and that they will not dispute the fees that the Company may apply to any refund.

Loyalty Points may be awarded to Users upon their first Deposit of AKTIO Tokens, unless the User has already made a Deposit of Digital Assets.

4.2.13 Withdrawal of Digital Assets

The User may withdraw Digital Assets directly from the Mobile Application to other crypto-related platforms, using the technical infrastructure of a third-party service provider (the “Digital Asset Withdrawal”).

Withdrawals of Digital Assets are only permitted for specific digital tokens and blockchain networks explicitly listed in the Application. This list may be updated from time to time at the sole discretion of the Company. Users must consult the relevant page within the Application to ensure they are using an authorized token and network (e.g., USDC via Ethereum ERC20).

Users can initiate a Digital Asset Withdrawal by clicking on the relevant buttons such as “Withdraw USDC,” “Send,” or any similar label shown in the Application.

During their first Digital Asset Withdrawal attempt, the User must enter a Destination Wallet Address corresponding to the selected token and network, to transfer the digital assets to their external wallet. The User may either paste the address or scan a QR code.

The User is solely responsible for any error or omission in the Digital Asset Withdrawal process, especially in cases of using an unsupported token, unsupported network, or invalid address. The Company shall not be held liable for any resulting losses or damages.

Users acknowledge that each Digital Asset Withdrawal may be subject to fixed and/or variable fees, including blockchain network fees, as detailed in the “How it works” section of the Application. To prevent excessive costs, the Company reserves the right to cancel any transaction where the actual blockchain fees significantly exceed the initial estimated amount shown to the User.

4.2.14 Pay With Crypto

The User may pay goods with Digital Assets using the dedicated section of the Platform and following the steps below (referred to as the “Pay With Crypto Services”).

First, the User submits a loan request on the Platform to borrow EURC coins (referred to as the “Loan”), pledging some other Digital Assets (e.g. AKTIO Coin, ETH, etc.) as collateral (referred to as the “Collateral”). In addition to using Digital Assets they own, Users can elect to pledge as Collateral (x) the Digital Assets located in their Wallet intended to hold the rewards derived from the Mining Program. Users who select this vault option to use the Pay With Crypto Services can use up to a hundred percent (100%) of the amount located in their Pay With Crypto vaults as Collateral.

As a consequence of this Collateral, the Company lends EURC coins to the User from its own account and the EURC coins become the property of the User but the Company remains in charge of their Custody. The Collateral is held by the Company as security during the Loan period.

As part of this Loan, the Company sells the EURC coins for euros from its own funds. As a consequence, the User holds euros, securely held by Modulr, which are specifically reserved for the purpose of the payment.

The User may then use the euros to make a payment to buy goods or services from a merchant listed in the dedicated section of the Platform. The euros held by Modulr are thus debited for the said payment.

As a consequence of the payment, the Company converts the Collateral into EURC coins up to the payment amount made to the merchant by the User, in order to get a reimbursement of the Loan.

If the User uses the entire Loan, the Company will convert the entire Collateral into EURC coins as repayment of the Loan.

On the other hand, if the User does not use the entire Loan, the User will repay the remaining amount of the Loan to the Company and the Company will unlock the remaining amount of the Collateral.

Within this Service, the minimum amount of the Loan is fifty (50) euros and the maximum amount of the Loans is:

one hundred (100) euros for Bronze Users,
one thousand (1,000) euros for Silver Users,
two thousand (2,000) euros for Gold Users,
three thousand and five hundred (3,500) euros for Platinium Users, and
five thousand (5,000) euros for Elite Users.

User acknowledge his feature limitation:

80% of the maximum wallet by using Pay with Crypto
100% of the maximum wallet the wallet by using Pay with vault

In any case, Users have to comply with a daily maximum of ten thousand (10,000) euros, a maximum of thirty thousand (30,000) euros over a period of 31 rolling days, and an one hundred thousand (100,000) euros over a period of 365 rolling days.

4.2.15 Credit Card Deposits in Euros

The User may deposit euros on the Mobile Application using the infrastructure of Stripe (the “Credit Card Deposit Service”). By using the service of Stripe, You agree to the terms and conditions and any other relevant policies applicable to Your use of the services offered by Stripe.

In order to proceed with a Credi Card Deposit, the User must enter the amount he wishes to deposit on the dedicated section of the Mobile Application. Upon confirmation, the User will have to enter his credit card information and validate the Transaction.

In order for Your Credit Card Deposit to be executed and final, the Company will operate compliance verifications as to the origin of the funds. Once these verifications are validated, the User Credit Card Deposit will appear as final and the amount deposited will appear on the dedicated section of the Mobile Application. In other words, the Credit Card Deposit is subject to confirmation and approval by the Company after compliance verifications are completed. Until the Credit Card Deposit is validated by the Company, no other Credit Card Deposit can be processed.

Credit Card Deposits are subject to minimum and maximum amounts in accordance with the Loyalty Status category of the User as described in the following section https://www.vancelian.com/memberships/.

Estimated fees associated with Credit Card Deposits are displayed when the User first enters the amount he wishes to deposit. Final fees are displayed when the User enters his payment information and confirms his intention to proceed with the Credit Card Deposit.

In accordance with Stripe’s internal policy, the Credit Card Deposit Service is not available to Users from certain countries. Users from restricted countries will be automatically prevented from accessing and utilizing the Credit Card Deposit Service. The list of countries that trigger the exclusion from the Credit Card Deposit Service may change from time to time according to Stripe’s internal policy upon which the Company have no control nor responsibility. The Company disclaim any liability for any inconvenience, loss, or damages arising from such restrictions and recommend that affected Users seek alternative methods for deposit.

Loyalty Points may be awarded to Users upon their first Credit Card Deposit.

4.2.16 Exclusive Offers Service

The Exclusive Offers Service is subject to specific terms and conditions titled “Terms and Conditions for Exclusive Offers” or “CGUOE,” to which it is expressly referred for this specific Service. The CGUOE are available and downloadable under the “Terms and Conditions for Exclusive Offers” section on all pages of the Platform.

4.3 General Provision Applicable to the Custody Service

4.4 New Services

The Company will be able to widen its range of Services by releasing new services on the Platform, whether these services are accessible to any User or only by the means of the User's User Account. These new services are deemed to be an integral part of the Services as defined in the article "Definitions" of these GTC and will be governed by these GTC. Unless otherwise indicated, the new Services may be used by the User as soon as they are effectively available on the Platform, subject, where necessary, to the prior creation by the User of a User Account.

Users expressly agree to receive communications of any kind from the Company regarding any type of product, good or service, on or outside the Platform, including new Services available on the Platform, either by email or telephone.

4.5 Evolution of the Services

The Company may, at any time and without notice, develop, improve or adapt the Platform and the Services, and more generally the services offered, in view of an improvement for example of the features offered on the Platform or within the framework of the Services. This may include the roll-out of update(s), new version(s), new services or other services, or the removal of existing Services.

In case of definitive discontinuation of an existing Service, the Company will take reasonable endeavours to notify the Users of this change with reasonable notice, and to provide them with alternative solutions (e.g.: alternative transactions, transfers to a third-party service, etc.). In case of definitive discontinuation of all Services, the Company will proceed with the termination hereof according to the conditions and provisions indicated in the article “Repudiation - termination".

Moreover, the Company may at any time and without notice complete or modify the Platform, its content and the Services available through it, according to the evolution of technologies. As relevant, the User must ensure that his/her computer/phone resources are suitable for the changes of the Platform and the Services.

4.6 Assistance

The Company offer technical support to the User in order to provide information or assistance to the User relative to the technical aspects and the features of the Platform and the Services.

The User remains solely responsible and liable for her/his choices and notably for the choice to use the Services. The technical support notably does not handle inquiries about the suitability of using the Services and does not provide financial or strategic advice of any kind.

This support is accessible by chatbot on the Platform, 7 days a week and 24 hours a day (telephone assistance is only available from Monday to Friday from 9:00 am to 5:00 pm UTC and the Saturday from 9:00 am to 1:00 pm, closed on Sunday). The Company will make every effort to answer the User’s request as soon as possible and appropriately. However, the Company make no commitment regarding any response time, nor to the relevance or exhaustiveness of the content of the answer, nor to the fact that the supplied answer will serve to effectively resolve the User’s request or provide a solution.

Furthermore, the Company do not provide any advice regarding the use of the Services and more broadly the performance of Transactions/operations involving Digital Assets. No information provided by the Company should be construed as investment advice, financial advice, strategic advice, business advice, or any other type of advice.

Unless indicated otherwise in these GTC, the Transactions are performed only on the basis of the instructions communicated by the User, without the Company ever verifying the relevance, interest or quality thereof. Thus, as a reminder, the User is solely responsible for determining whether an investment, an investment strategy or the execution of a Transaction is appropriate according to his/her personal investment objectives, financial situation and risk tolerance, and the User will be solely liable for any resulting partial or total loss or damage, harm or liability. The User is invited to consult professionals specialising in financial, legal or tax advice before performing a Transaction involving Digital Assets.

4.7 Contact management - Mobile Application

By accepting these GCU, the status of "visible" User on the Mobile Application, and the privacy policy available on the Site, the User agrees that the Company are entitled to access the list of telephone contacts in order to facilitate interaction with other Users of the Platform.

However, if you choose to display yourself as "invisible", your status will be updated to indicate that you have not yet installed the Mobile Application.

This feature allows you to display on the Mobile Application a list of your contacts who are already using the Platform, as well as those who have not yet installed it.

Mobile Application already installed. In this case, the Services offered by the Platform can be used by the User between themselves within the limits of the operations available on the interface.
Mobile Application to be downloaded. In this case, the User may send an invitation to download the Mobile Application and become an Affiliate (as this programme is defined in article 4.9 of these GCU). Please note that this action is subject to acceptance of the invitation by the contact concerned.

4.8 Loyalty Program

The Company allows its Users to benefit from a Loyalty Status – bronze, silver, gold, platinum, or elite – based on the number of Loyalty Points acquired, through which they can enjoy certain benefits (the "Loyalty Program").

The benefits associated with each Loyalty Status, which may be modified by the Company at its sole discretion, can be viewed in the dedicated section (https://vancelian.com/memberships).

At any time, each User can view their Loyalty Status, Loyalty Points balance, and the number of Loyalty Points required to reach the next Loyalty Status on their profile page in the Mobile Application.

Each User can also check the different actions that allow them to earn or lose Loyalty Points in the dedicated section. This evolving list will account for actions already taken by the User and will no longer display them.

When validating certain Transactions, a notice may appear in the Mobile Application interface to indicate to the User how to earn Loyalty Points by performing an action on the page they are on.

Each User can view the history of actions they have taken that have earned them Loyalty Points.

Each User can at any time compare the benefits granted by each Loyalty Status (https://vancelian.com/memberships).

Users who have acquired an "ambassador" status, as it existed before the implementation of the Loyalty Program, will automatically be granted a number of Loyalty Points that will appear in the dedicated area of their User Account. The conversion of their previous ambassador status into Loyalty Points cannot give rise to any claims from the Users.

The Company reserves the right to modify the terms and conditions of the Loyalty Program at any time and at its sole discretion.

The Company is not responsible for any damages or losses resulting from the Loyalty Program, including but not limited to the number of Loyalty Points received by Users, the interruption of the Loyalty Program, or the termination of the Loyalty Program.

The Loyalty Program implies acceptance and compliance with these Terms of Use, including the provisions of articles 5.6 and 5.7 of the Terms of Use. Failure to comply with these provisions by the User within the framework of the Services, particularly in the event of non-compliance, may result in the Loyalty Points possibly awarded to the User being retained by the Company.

4.9 Referral Program

The Company has established a referral program (the "Referral Program") to reward Users for their ongoing engagement and transactions on the Mobile Application.

A detailed description of the Referral Program and any associated Promotional Offers may be communicated to Users by any means deemed appropriate by the Company, including by email or via the Mobile Application.

The Company reserves the right to amend the terms and conditions of the Referral Program at any time and at its sole discretion, which the Referrer expressly and irrevocably understands and accepts.

4.9.1 Eligibility and Enrollment Conditions

Registration and participation in the Referral Program are voluntary and subject to the following conditions:

Each referrer (the "Referrer") must invite, via the Mobile Application, a new user (the "Referee") who has not yet registered on the Mobile Application;
The referral relationship is considered validated when the Referee has completed their identity verification process and has made their first Deposit;
All Users and Referees who have completed the verification process are eligible to participate in the Referral Program.

The Company may, at its sole discretion and without incurring any liability whatsoever, grant certain Referrers the status of partner (the “Partner”, under this Article 4.9). Once such status has been granted, the Partner shall be informed by the Company by email or directly through the Mobile Application.

The Company may, at its sole discretion, differentiate Partners into sub-categories referred to as “tiers” – tier 1 or tier 2. The Company shall have sole authority to assign a tier to a Partner, which the Partner fully understands and accepts, expressly waiving any right to take action on this basis.

Partners are subject to all obligations set forth herein for non-Partner Referrers.

4.9.2 Referrer Rewards

Once the referral relationship has been validated, the Referrer may receive (i) Loyalty Points, according to the criteria established by the Company at its sole discretion, and (ii) discount coupons usable within the Mobile Application (each, a “Coupon”), credited to a dedicated “Rewards Vault” automatically generated upon the first allocation of a Coupon.

The quantity and value of Coupons granted to a Referrer shall be determined according to the Referrer’s status - i.e., non-Partner Referrer, Partner Referrer tier 1, or Partner Referrer tier 2 - as specified on the dedicated page of the Mobile Application. For the avoidance of doubt, the Company has sole authority to assign any given Referrer status, which the Referrer fully understands and accepts, expressly waiving any right to take action on this basis.

Referrers holding Partner status may also be granted Coupons linked to the activity of Users referred by their direct Referees, within the limit of one (1) additional generation. The terms of allocation and the applicable schedule shall be defined by the Company and communicated on the dedicated page of the Mobile Application.

The Referrer shall be able to view, within their Rewards Vault, all accumulated Coupons as well as their total value.

The Company reserves the right to implement a time limit within which Coupons must be used by a Referrer, which the Referrer expressly and irrevocably understands and accepts.

Within the dedicated Rewards Vault page of the Mobile Application, the Referrer may select the “Withdraw” button to use all or part of their available Coupons. Coupons may only be used to purchase Crypto-assets (whose list, determined at the Company’s sole discretion, shall be published on the dedicated page of the Mobile Application), with a minimum value of ten (10) euros.

Using a Coupon allows the Referrer to acquire Crypto-assets for the selected amount (within the limit of the value available in the Referrer’s Rewards Vault). In practice, the Referrer uses their Coupons to reduce the acquisition price of the Crypto-assets to zero. The Referrer may not select a quantity of Crypto-assets exceeding the value of their available Coupons.

As the Company acts as an intermediary account holder, the price of the Crypto-assets sold to the Referrer is determined at its sole discretion, without incurring any liability. In other words, the Crypto-assets sold to the Referrer when using the Coupons available in their Rewards Vault are those held by the Company at the time of the transaction.

The Referrer remains responsible for any reporting obligations - including tax obligations - to which they may be subject. In the event that the allocation of Coupons gives rise to any tax or duty, including value-added tax (VAT), the Company shall not, under any circumstances, be responsible for the payment or reimbursement of any such amounts due.

A Referrer may refer multiple Referees. The Referrer shall receive Loyalty Points upon the first Deposit made by each referred Referee; however, if none of them completes a first Deposit, the Referrer shall not receive any Coupon.

4.9.3 Referee Rewards

The Referee shall, subject to their eligibility, benefit from the following Promotional Offer:

Welcome Bonus: exemption from transaction fees incurred by the Referee, up to a cumulative amount of fifty (50) euros and for a maximum period of three (3) months following the activation of their User Account. No fee is applied and then refunded: the exemption applies directly at the time of the Transaction, until the cap is reached or the period expires.

The granting of this Bonus shall be subject to compliance with these Terms and Conditions. The Company reserves the right to suspend or discontinue such offers at any time, without notice or liability.

4.9.4 Limits and Exclusions

To prevent any abuse or pyramid-like scheme, the Company does not allow a Referrer to benefit from any right of succession over the potential Coupons of Referees referred by Referees they have themselves referred. By way of exception, Referrers holding Partner status may receive Coupons generated by Users referred by their direct Referees, within the limit of one (1) additional generation, and under the conditions defined by the Company. No benefit may be received beyond this generation.
The Company shall not be liable for any damages or losses resulting from the Referral Program, including but not limited to the interruption or termination of the Referral Program.
Participation in the Referral Program implies acceptance of and compliance with these Terms and Conditions, and in particular with the provisions of Articles 5.6 and 5.7 hereof. Failure by a User to comply with these provisions within the scope of the Services, including in cases of non-compliance, may result in the retention by the Company of any Coupons or Loyalty Points previously granted to such User.
In accordance with these Terms and Conditions, each User may hold only one Account. Any attempt to create or use multiple User Accounts in order to unduly obtain Coupons or Promotional Offers is strictly prohibited.
Self-referral, or any attempt to designate oneself as Referrer or Referee, is prohibited.
Any attempt at fraud, technical manipulation (including through the use of VPNs, proxies, or falsified locations), or any other abuse identified shall result in the immediate cancellation of the relevant Coupons and Promotional Offers, without prejudice to any other sanctions provided for in these Terms and Conditions.
The Company reserves the right to carry out any necessary verifications and to suspend the payment or activation of Coupons or Offers in the event of reasonable doubt as to the lawful use thereof.

4.9.5 Additional Promotional Offers

The Company may, from time to time or on a recurring basis, offer other promotional offers (the “Promotional Offers”), which may include, among others, waived transaction fees (with the amount and duration determined by the Company).

Such offers are subject to these Terms and Conditions and may be activated, amended, or withdrawn at the sole discretion of the Company.

5. Terms of use of the Platform and Services

5.1 Access to the Platform and Services

The User declares and acknowledges having the technical competence to use the Platform and the Services and acknowledges having verified that her/his phone configuration for this purpose is in perfect working order. The User is solely responsible for the proper functioning of her/his phone equipment and her/his Internet access.

All costs related to accessing the Platform and Services, whether hardware, software or internet access costs, are exclusively the responsibility of the User and shall be borne by him/her.

The User undertakes to use the features of the Platform, the Services and all of the possibly available content only for purposes that comply with the applicable regulations, and notably with public order, good morals and the rights of third parties. The Company cannot be held liable for the User’s use of the Platform and Services, notably in case of a breach of the provisions applicable to the aforementioned User.

The User further recognises that s/he is responsible for using the Platform and Services in good faith and not to damage the brand image, reputation or renown of the Company or its Partners in any way whatsoever.

5.2 Content quality

The Company undertake to provide clear, accurate and reliable information when communicating with Users.

However, the content (such as information, elements, documents in any form whatsoever, in particular text, figures, images, etc.) made available and/or distributed on the Platform is provided for information purposes only. It is the responsibility of each User to ensure that this content meets his or her needs.

Therefore, the Platform’s contents should not be considered as authoritative, nor as a substitute for the User's personal judgement, and should not constitute the sole basis for any decision by the User.

If the User notices the presence of inaccurate content or content likely to infringe the rights of a third party or to violate a regulatory or legislative provision, s/he is invited to report it by e-mail to support@vancelian.com.

5.3 Link

The Users cannot establish a link (including redirections) towards the Platform without the express and prior authorisation of the Company. Such a request must be sent by e-mail support@vancelian.com. In no case will this authorisation be considered as an implicit affiliation agreement. In any case, the links referring to the Platform will have to be withdrawn at the first request of the Company.

The Company reserve the possibility to place links on its Platform giving access to sites, web pages or applications other than those of the Platform, as well as to redirect the User towards other sites, web pages or applications. The Users are formally informed that the sites, web pages or applications accessible by them via these links do not belong to the Company, which also reserves the right to delete the aforesaid links proposed by its Platform towards an application or a third site if the latter notably became contrary to the regulations in force or to its values. The Company shall not be liable for any access by the Users via the links set up on the Platform and leading to third party sites or other resources present on the Internet, nor for the contents of the information supplied by these third-party sites or other resources subsequent to the activation of the aforesaid links.

5.4 Availability of the Platform and Services

The Company endeavour to provide a quality service and to enable the User to use the Platform and the Services under the best possible conditions. As such, the Platform and Services are in principle available 7 days a week, 24 hours a day. However, the Company have no obligation of result in this regard but only an obligation of means, and does not guarantee the availability, optimal operation or speed of the Platform nor of the Services, nor their permanent and continuous accessibility.

The User is informed and accepts that access to the Platform and/or Services may be delayed, altered, prevented or interrupted, notably due to (without limitation):

technical hazards inherent to the Internet, including but not limited to bandwidth fluctuations and hazards of the Company’ internet service provider, a Partner and/or a hosting company;
a case of force majeure;
use by the User of the Platform or the Services that does not comply with the GTC or with the details and indications that may appear on the Platform;
unavailability or a hazard concerning access to the telephone network or to the internet network or to any other network (telephone network, telecommunication or electronic communication network,...) by the Company, a Partner or by the User;
an impossibility to access or difficulties encountered in accessing data hosted by third parties (including Partners) for reasons not attributable to the Company;
a problem or a difficulty, notably technical, related to the operation of a Blockchain;
unavailability or failure of access to phone systems, applications, websites or marketplace platforms or Partners or others to which the Company and/or its Partners have recourse for the provision of the Services;
the unavailability or loss by the User of her/his Identifiers needed to access her/his User Account;
an illicit, malicious or unfortunate act (including acts resulting from the action of "cybercriminals" or "hackers", logical or other attacks such as phone viruses, malicious programs,...), having as its object or effect an attack on the phone systems, applications, websites or platforms of the User, of the Company, of the Partners of the latter or even of the Exchange Platforms that the Company may use for the provision of the Services;
an exceptional situation justifying the temporary suspension of withdrawals, access to Services or access to the Platform (e.g. a strong decline of Digital Assets prices, a war affecting the markets, etc.)

Furthermore, the Company reserve the right to close access to all or part of the Platform and/or to suspend the execution or supply of all or part of the Services in case of the occurrence of one of the above circumstances or in case of endangerment of or threats to its human resources (e.g. members of its staff) or on its technical resources of any kind.

For the programmed maintenance operations, the Company will make every effort to provide the User with advance notice. However, the Platform may, without prior notice or compensation, be temporarily closed, and access to the Platform or Services or the features of the Platform or Services may be limited, notably to perform technical or operational interventions or other types of interventions necessary for their proper functioning (e.g. testing, maintenance, control, resolution of possible breakdowns, operational modifications or changes, upgrades, etc.), for an update, for the roll out of a new version or for any other operation deemed necessary by the Company or its Partners, which the User accepts.

The Company shall not be liable for any failure or interruption of the Platform and/or the Services due to one of the cases indicated in this article "Availability of the Platform and the Services".

5.5 Technical conditions and preservation of the Platform and Services

The User must be equipped with the appropriate telecommunications means needed to access the Platform, her/his User Account and the Services. The User guarantees that her/his hardware and software used to access the Platform, her/his User Account and the Services, and their use, are in good working order.

The User also undertakes to employ appropriate measures to ensure the security of her/his own equipment and/or data and/or content and/or software from contamination by any viruses, malicious codes or any other harmful technologies or software infections, and to ensure that s/he does not introduce such viruses into the Platform.

The User undertakes not to undermine the proper operation of the Platform or Services and not to commit any act that could jeopardize the computer/phone security of the Platform or the computer/phone system of other users of the Platform (whether Users or not), of the Company or of a Partner of the latter. Notably, the User undertakes not to use devices or software of any kind that would disrupt, interfere with or interrupt the normal operation of the Platform or Services, or that would impose a disproportionate burden (in terms of hosting volume, bandwidth, etc.) on the Platform.

The User also undertakes not to extract, for commercial purposes or not formally authorised purposes, all or part of the information or data present on the Platform, as well as not to use a robot, notably a crawler or spider, a software program, an automated system, a script, a program, a search application or a website retrieval application, or any other means allowing to extract or index all or part of the content of these applications. As such, the practices of crawling, scraping or screen scraping are formally prohibited.

The content of the Platform must not be downloaded, collected, copied, altered, modified, deleted, distributed, transmitted, broadcast, rented, sold, conceded, exploited, in whole or in part and in any manner whatsoever, without the express, prior and written consent of the Company.

The Platform is an automated data processing system. The same applies to the User Accounts. The User is prohibited from accessing or maintaining her/himself, fraudulently, in all or part of the Platform or a User Account that is not her/his own. The User is prohibited from using a method of access other than the interface made available by the Company. If such a method is discovered or if the User inadvertently enters a restricted area (e.g. another User's User Account) without right, the User agrees to inform the Company immediately by e-mail sent to the following address: support@vancelian.com so that it can take any action that it deems necessary.

The Company reserve the right to bring any action or claim necessary to prevent, stop and sanction any infringement to the Platform, to the content of the Platform, to a User Account but also to the Services, including such as legal proceedings, and to do so without prior notice.

The User alone is responsible to the Company, or the Partners of the latter, for damages that can result from access to the Platform, to her/his User Account as well as to the Services, and from their use.

Any violation of the provisions of this article by the User constitutes a serious violation likely to lead to the termination without notice of the GTC to the exclusive detriment of the User and with the latter being permanently banned from accessing and using the Platform and the Services.

5.6 Framework for the use of the Services

At any moment during her/his use of the Platform or Services, the User must act in compliance with the applicable laws and regulations (notably relative to tax and/or social declarations having to be made because of the performance of certain Transactions and for which the User alone bears responsibility), as well as in accordance with the indications, information, communications of the Company such as communicated notably by the means of these GTC or on the Platform or via the User's User Account. For this reason, it is notably specified that the User must perform all steps required for her/his tax obligations (such as for example, but without this precision being exhaustive, any capital gains declaration) and social obligations, and that the Company do not carry out such steps on behalf of the Users.

Furthermore, the User undertakes not to disrupt, negatively affect or prevent the use of the Platform or the Services by any other user (whether or not a User).

It is forbidden for the User to engage in or participate in practices that have the purpose or effect to manipulate the market (such as wash trading, cross trading, spoof trading, front running, sell wall, dark pool, pump-and-dump, etc.) through her/his use of the Platform or Services, whether or not such practices are expressly prohibited by applicable laws and regulations.

The User is also prohibited from using or operating the Platform or Services to engage in or participate in fraud, terrorist financing, money laundering, corruption, circumvention of economic sanctions applicable to the User on the date of the use of Services, tax fraud, or any other breach or violation of relevant criminal, administrative or tax laws in any country of the world, being part of a Ponzi scheme of any kind, using matrix programmes/pyramid programmes/multi-level marketing or other high-risk business detrimental to customers of any kind, unlawful activity in any country of the world; forbidden gambling; intellectual property or proprietary rights infringement, counterfeit or unauthorised goods; using/distributing drugs and drug paraphernalia or substances designed to mimic illegal drugs; producing/distributing adult content and services; using unfair, predatory or deceptive practice via customers or persons or any other risky or illegal transactions (“Compliance Breach”).

Furthermore, any commercial use and/or exploitation of data, notably market data, obtained or accessed or made available through the Platform and/or the Services is prohibited, as is any copying, mining, extraction, etc. of the said data.

The User gives the Company and its Partners full permission to temporarily control the Digital Assets in her/his User Wallet(s) when necessary for the provision of the Services.

5.7 General principles applicable to the Services

5.7.1 General restrictions

The Services are accessible to the User who has a User Account validated by the Company and not having been the object of, or not being subject to, a suspension, sanction, restriction, limitation, termination, closing or suppression procedure.

In addition, the Company reserve the right, for the purposes of deciding whether a Service or a Transaction can be performed by a User, to ask the User for specific additional information and/or documents.

Moreover, the Company reserve the right, immediately and without notice and without this creating any right to compensation for the User, (i) to refuse the execution of a Service or of a Transaction requested by a User, (ii) to cancel a Transaction requested by the User, (iii) to suspend a User’s recourse to the Services or to one or of the determined Services, or to (iv) lock and/or freeze and/or close a User Account, notably in case of violation by the User of her/his obligations or commitments pursuant to these GTC or if the Company consider that there are sufficient elements leading one to think that the User could be in violation of her/his obligations and commitments pursuant to these GTC, or notably:

in case of detection of unusual or suspicious activities on the User's User Account, or suspicion of the User's identity;
in case of detection or reporting of unauthorised access to the User's User Account;
in case of a request to that effect by a competent authority (request, court decision, ongoing investigation, etc.)
in case of the User’s failure to provide additional information or documents as requested by the Company;
in case of inappropriate behaviour and/or misconduct by the User (insults, threats, violence, etc.);
in case of suspicion that the User Account is being used as a "transit account," meaning an account primarily or exclusively used to transfer funds between different external accounts outside Vancelian without effectively using the Services offered by the Company. These accounts present an increased risk of fraud, money laundering, or terrorist financing and are strictly prohibited;
in case the User appears to be engaged in or participates in fraud, terrorist financing, money laundering, corruption, circumvention of economic sanctions applicable to the User on the date of the use of Services, tax fraud, or any other breach or violation of relevant criminal, administrative or tax laws in any country of the world, being part of a Ponzi scheme of any kind, using matrix programmes/pyramid programmes/multi-level marketing or other high-risk business detrimental to customers of any kind, unlawful activity in any country of the world; forbidden gambling; intellectual property or proprietary rights infringement, counterfeit or unauthorised goods; using/distributing drugs and drug paraphernalia or substances designed to mimic illegal drugs; producing/distributing adult content and services; using unfair, predatory or deceptive practice via customers or persons or any other risky or illegal transactions;
in case the Company have been informed of official investigations (by any competent public authority, in particular but not limited to any public prosecutors in the field of criminal law or tax agents) against such User with respect to fraud, terror financing, money laundering, tax fraud, or any breach or violation of relevant criminal, administrative or tax laws in any country of the world;
in case of breach of one or several obligations against the Company under the GTC without curing said breach within 10 business days;
in case a User has breached any rules or regulations of a Partner;
in case a User has opened more than one User Account.

The Company also reserve the right, notably with the objective of fraud prevention and the fight against illicit or fraudulent activities, to impose on a User, on a personal basis, limits (maximum or minimal limits) or a ceiling under the conditions described below, and/or to restrict or limit the use of certain Services by the aforementioned User.

These restrictions can be lifted by the Company if the latter considers that the causes and motives having led to their installation have disappeared, if necessary subject to the communication by the User of the information and documents requested of her/him by the Company. In addition, Intervention Fees may be levied / invoiced to the User in accordance with the provisions indicated in the article "Financial conditions" of these GTC.

5.7.2 Restrictions due to the Digital Assets available for a particular Service

The User may perform Transactions on various Digital Assets as offered/accepted on the Mobile Application. The list of Digital Assets accepted on the Mobile Application may be modified at any time without prior notice. In case of the permanent removal of a Digital Asset from the Mobile Application, the Company will make reasonable efforts to notify Users of this change with reasonable advance notice and to allow the User to perform Transactions on the said Digital Assets.

It is possible that a third-party provider of Digital Assets may cease to provide a given Digital Asset (delisting) or proceed with the migration (swap) of a given initial Digital Asset to a new Digital Asset, resulting in the Company's inability to accept said Digital Asset on the Mobile Application. In this situation, the User will be notified of this change and will have two options:

In the absence of the User's express refusal within a period determined by the Company, the Company will automatically proceed with the swap of the affected Digital Asset to the new Digital Asset offered or its delisting. In the event of delisting, the User will be offered the sale or exchange of this Digital Asset on the Platform; or
In case of the User's express refusal, the User must contact customer service to agree on the conditions for retaining the affected Digital Asset. The User will then have the option to provide information relating to an external ERC-20 wallet to transfer the Digital Asset no longer accepted on the Mobile Application.

Furthermore, not all Services are available for all types of Digital Assets offered on the Mobile Application, but some are only possible with the types of Digital Assets identified as such on the Mobile Application. Therefore, some Services may only be possible subject to the use of certain types of Digital Assets. The User must therefore, via their User Account and more broadly via the Platform, ensure the Digital Assets they can use based on the Services they wish to use, especially when using said Services.

5.7.3 Restrictions due to the setting of minimum and maximum limits, and a ceiling

The User can use the Services subject to complying with the minimum and maximum limits set by the Company for example for certain Transactions and for certain types of Digital Assets, in accordance with the rates applicable to the Loyalty Status subscribed by the User and/or indications appearing in the User's User Account.

These limits are subject to change at any time without notice. The User is therefore invited to take note of the minimum and maximum limits applicable to her/him when planning to perform a Transaction and undertakes to respect them.

In addition, a ceiling can be applied to the User by the Company, either for all of the User’s Transactions, or only for certain Transactions and/or for certain types of Digital Assets. The User will be informed of the existence of the said ceiling through her/his User Account.

A ceiling can be also applied by the Company in general to all Users either for all of their Transactions, or for example for all Transactions performed with a type of Digital Asset. Users will be informed of the existence of the said ceiling through the Platform.

These ceilings are subject to change at any time without notice. The User is therefore invited to check the ceilings applicable to her/him when planning to perform a Transaction and undertakes to respect them.

5.8 Warning - risks inherent to the Services

The User recognises that the Transactions performed in connection with the Services, and in general the purchase, use, sale, exchange, conversion or holding of Digital Assets, present risks for which the responsibility of the Company cannot be pursued under any circumstances, namely:

macroeconomic risk: changes of the macroeconomic situation may lead, amongst other things, to abnormal price fluctuations that may affect the User;
political / regulatory risk: changes of applicable laws and regulations may lead, amongst other things, to abnormal price fluctuations, or even a change of the operating conditions of the Platform and the conditions for the provision and use of the Services, that may affect the User;
performance risk: Digital Assets are not issued by financial institutions, and the Digital Asset market is a new and unregulated market that is susceptible to generate no real return;
volatility risk: Digital Assets are heavily used by speculators, which implies that Transactions in Digital Assets are exposed to extremely high volatility risks; moreover, Transactions take place throughout the day without interruption and without restriction on the rise or fall of the price, which implies that the price of the Digital Assets may undergo sudden variations leading to partial or total losses of the Users' investments. Also, the purchase, sale, exchange, etc. of Digital Assets involve significant risks: the User is advised never to invest more than s/he can afford to lose;
decentralization risk: there is no central entity or organisation that controls and regulates Digital Assets. Instead, Digital Assets are based on decentralized Blockchain technology. In case of a crisis, there is no entity or organisation that protects the Digital Assets market for example in order to minimize your losses.
operational risks: failures of hardware, software or networks (internet, telecommunication, electronic communication, telephone, etc.) can in certain circumstances result in the loss of Digital Assets;
risks resulting from cases of force majeure;
risk of theft of the private key and other handling errors (e.g. risk for the User of theft of her/his Identifiers) that may result in the partial or total loss of the Digital Assets;
liquidity risk: the exchange of a Digital Asset for a Fiat currency is not always guaranteed, nor is it guaranteed for any other type of Digital Asset.

The Company also emphasize that Digital Assets and Blockchain are new technologies, with special rules that differ from traditional investment systems. Thus, any use of Digital Assets, whether as an investment, as a monetary equivalent, etc., presents risks that the User must consider.

The Company notably provide the Users with information and tutorials intended to guide them in their use of the Platform and the Services. The User is nevertheless invited to vary her/his information sources and therefore to consult other sites than the Company’ Platform in order to inform her/himself with regard to the inherent risks in the Services, while specifying that the information and precisions appearing on the Platform are not exhaustive, nor necessarily up to date, and are only for information purposes relative to the Users.

The User must therefore be particularly vigilant when using the Platform and the Services, and must ensure that s/he has all of the skills and knowledge, particularly technical and financial, required to handle Digital Assets. Notably, the Company remind Users that past performance is not indicative of future performance, and that investment in Digital Assets presents risks of partial or total capital loss. The User is in any case invited to consult professionals specialising in financial, legal or tax advice before performing any transaction involving Digital Assets.

6. Terms of use of the User Account

6.1 Creation of a User Account

In order to create a User Account, the User must:

complete the required fields on the online form and thus communicate the requested information, namely:
- For a natural person: User's full name, e-mail address, phone number, identification document, date of birth;
- For a legal person: certificate of incorporation (or equivalent) less than 3 (three) months old, articles of association, name and surname of the legal representative, e-mail address of the legal representative, date of birth of the legal representative, telephone number of the legal representative.
provide the documents requested online for this purpose, notably as required under the obligations indicated in the article "Identity verification - Know Your Customer" hereof.

The information and documents indicated above, as well as the technical characteristics (format, size, etc.) of the said documents, are subject to change over time.

If this information and documents are not provided or appear to be inaccurate, the User's User Account cannot be created and s/he will not be able to benefit from the Services requiring the prior creation of the said User Account. In general, the User certifies the truthfulness and accuracy of the transmitted information (including the documents communicated both on the User’s own initiative or upon request) during the creation of her/his User Account.

The Company will have the right to pursue the responsibility of the User or any involved person in the event that the aforesaid transmitted information is false, inaccurate or misleading. The User must communicate her/his real identification information (e.g.: her/his real name) and contact information.

The User is also required, where appropriate, to update the provided information so as to ensure its accuracy over time and at any time, and guarantees the Company in this regard. The Company can in no case be held responsible for any difficulty encountered by a User, for example concerning the access to her/his User Account or the use of the Platform or Services, that would be linked, directly or indirectly, to the communication by the User of inaccurate or incomplete information, or to a lack of update of her/his information by the User, while specifying that the Company will be able to condition the use of the Services to the supply by the User of up-to-date information and documents (notably currently valid identity document) or even to the supply of additional information or documents (proof of address, justifications of origin of the funds, answer to a KYC questionnaire, etc.). The communication of inaccurate or incomplete information, or false documents, or the failure to update such information or documents by a User will constitute serious breaches by the User of these GTC entitling the Company to terminate the GTC and to delete the User's User Account without notice, in accordance with the article "Repudiation - termination".

The communication of additional information and/or documents may also be required by the Company in case of request of modification by the User of the information relative to her/his User Account.

6.1.1 Conditions for creating a User Account

A User Account can only be held by one person (whether a natural or legal person), and each person (whether a natural or legal person) can only have one User Account.

Any person (natural or legal) wishing to open a User Account must have full legal capacity to do so, as well as to commit to these GTC. In this respect, any natural person acting on behalf of a legal person guarantees to have all rights and authorisations necessary to validly commit the said legal person.

In addition, the opening of a User Account by a natural person requires being at least 18 years old (the 18^th birthday must have been reached).

The creation of a User Account is also restricted:

with regard to natural persons, to natural persons whose principal residence is in European Economic Area (EEA), including the overseas departments (DROM) under French sovereignty;
with regard to legal persons, to legal persons having their registered office in European Economic Area (EEA).
To persons who do not meet the definition of "US Persons," including but not limited to:
- Citizens of the United States, whether residing in the United States or not;
- Lawful permanent residents of the United States (holders of a "green card");
- Individuals born in the United States who have not renounced their U.S. citizenship;
- Companies, trusts, or legal entities incorporated under the laws of the United States or having their registered office in the United States;
- Any other person or entity qualified as a "US Person" under Regulation S of the United States Securities Act or FATCA legislation.

It is the User's responsibility to ensure that these conditions are respected.

The contents of the above section and the eligibility conditions or restrictions to the creation of a User Account are likely to change at any time and without notice, on simple decision of the Company, notably but not exclusively in order to conform to legislative or regulatory obligations. The Company cannot be held liable for the consequences of restrictions (such as refusal to create a User Account, suspension or even closing / deletion of the User's User Account), even new ones, that relate to the country of residence, nationality or country of the registered office of the User or that would result from legislative or regulatory obligations.

6.1.2 Identity verification - Know Your Customer

The information communicated by the User for the purpose of creating a User Account, is used in order to verify her/his identity notably within the framework of the KYC obligations.

The request made to the User to communicate this information to the Company may result, amongst other things, from the obligations of the latter pursuant to the fight against money laundering and the financing of terrorism. In this regard, the User undertakes to and guarantees to the Company, that s/he will comply with the the Company KYC policy.

Through the KYC onboarding procedure, the User guarantees to provide the Company with true and reliable information on his/her identity (proof of identity) and address (proof of address).

KYC operations and notably the verification of the User's identity may be delegated by the Company to a third-party service provider.

6.1.3 Prohibitions

The creation or opening of a User Account is forbidden to any User whose User Account was previously closed by the Company as a result of a termination of these GTC for fault of the User.

The User who requests the creation of her/his User Account guarantees that her/his use of the Platform and Services will not expose the Company to any sanctions and that such use will not violate any applicable law or regulation, notably with respect to the fight against terrorism, economic sanctions, the fight against corruption or the fight against money laundering.

As such, the User notably guarantees:

not being a Restricted Party;
has not received notice of or is aware of any claim, action, suit proceeding or investigation against it with respect to Sanctions by any Sanctions Authority;
is not subject to any applicable limitation or restriction under Sanctions;
has not conducted its operations at any time in breach of applicable financial record keeping and reporting requirements and money laundering and anti-terrorism financing statutes in all jurisdictions in which s/he conducts business, the rules and regulations thereunder and any related or similar rules, regulations or guidelines, issued, administered or enforced by any governmental agency;
has not engaged in any activity which would breach any anti-bribery and corruption laws;
is not subject to any action, suit or proceeding by or before any court or governmental agency, authority or body or any arbitrator in relation to a breach of any anti-bribery and corruption laws or any money laundering or anti-terrorism financing Laws;
not being subject to a ban on using the Services resulting, notably, from legislative or regulatory provisions or from an administrative or legal decision, for example;
not being subject to restrictions on access to financial services as adopted by the United Nations, the Council of the European Union, etc. in the context of the fight against terrorism, corruption or money laundering;
not being on the list of specially designated nationals maintained by the Office of Foreign Assets Control (OFAC - United States treasury department) or the list of denied personal of the U.S. Department of Commerce.

Any violation of the provisions of this article "Creation of a User Account" by the User constitutes a serious violation likely to lead to the termination without notice of the GTC to the exclusive detriment of the User and the permanent prohibition for the User from accessing and using the Platform and the Services.

In addition, the Company reserve the right to refuse the creation of a User Account by a User who does not comply or does not respect the terms and provisions indicated in this article "Creation of a User Account", and more generally in these GTC, as well as to temporarily suspend or close / delete the User's User Account under the conditions indicated in the articles "Suspension of the User Account" and “Closing and deletion of the User Account" of these GTC.

6.2 Confidentiality and security of the Identifiers and the User Account

The creation of a User Account requires the User to choose Identifiers for the said User Account that are personal and that will be necessary to access the said User Account. To this end, the User will be asked to choose an identifier or login (i.e. her/his telephone number or e-mail address) and a password (i.e. PIN code) that must comply with the format and characteristics required as indicated on the online form to create her/his User Account.

The User is solely responsible for preserving the confidentiality of her/his Identifiers, that are strictly personal, and undertakes to perform all useful measures to ensure this complete confidentiality, and notably to change her/his password regularly (i.e. at least every 6 months). The User is therefore required to keep her/his Identifiers confidential and to protect them from access by or disclosure to third parties. The User is solely responsible for the strictly personal use of her/his Identifiers and guarantees the Company in this regard.

The User's Identifiers can be reinitialized at any time ("forgotten password procedure") on the initiative of the latter or on the initiative of the Company subject to providing the User with prior information thereof (while specifying that in all cases, this reinitialization will naturally have to be carried out by the User her/himself, even if on the initiative of the Company).

In case of password loss or theft, or in case of unauthorised access to her/his User Account, the User must immediately and without delay inform the Company by electronic mail sent to the following address: support@vancelian.com and must follow the instructions that may be communicated to her/him by the Company, notably in order to lock access to her/his User Account.

The reopening of the User's User Account following such a lockout request will be subject to the User providing additional information and/or documents to ensure her/his identity and the legitimacy of her/his reopening request. The Company cannot be held responsible in case of the User's failure to communicate the required information and/or the documents.

The use of the User's Identifiers to connect to her/his User Account and perform operations (including Transactions) is, between the Parties, attributable to the User with regard to (i) operations performed on or from her/his User Account, (ii) of any use of the Platform and the Services performed concomitantly with her/his connection to her/his User Account and (iii) of any fact or act related thereto.

The User is also informed that the connection or access to her/his User Account by means of her/his Identifiers constitutes proof between the Parties of the authentication and identification of the User but also of her/his identity.

The Company shall make reasonable efforts to ensure the security of the access to the Services and notably to the User's User Account, and to prevent any unauthorised person from being able to access it. the Company does not guarantee the absolute security of the Services or of the access to the User Account, and more generally to the Platform.

6.3 Suspension of the User Account

Without prejudice to the provisions contained in the articles “Repudiation - termination” and “General restrictions” hereof, the Company reserve the right to suspend the access to the User's User Account and to suspend by right and without notice the supply of all or part of the Services, in case of the User's violation of her/his obligations or commitments pursuant to these GTC or if the Company consider that there are sufficient elements allowing one to think that the User could be in violation of her/his obligations and commitments pursuant to these GTC.

Furthermore, such a suspension may notably occur:

in case of detection of unusual or suspicious activities on the User's User Account, or suspicion regarding the User's identity;
in case of detection or suspicion or reporting of unauthorised access to the User's User Account;
in case of reasonable suspicion of use of the Platform and/or Services in connection with illegal or fraudulent activities;
in case of a request to that effect by a competent authority (request, court decision, decision or request by an administrative or judicial authority, ongoing investigation, etc.)
in the absence of delivery by the User of the additional information or documents requested by the Company;
in case of inappropriate behaviour and/or misconduct by the User (insults, threats, violence, etc.).

The suspension of the User Account implies the impossibility for the User to connect to it and/or to benefit from the Services / to use the Services requiring such connection to the User Account.

Insofar as possible (and notably, unless prohibited by a competent authority or by the applicable provisions), the Company shall inform the User of this suspension without delay and shall, at its sole discretion, inform her/him of the reasons for this suspension.

Except for cases when the suspension of the User's User Account occurs following the request of a competent authority, the Company will inform the User, by sending an electronic mail to the e-mail address provided by the User in her/his User Account, of the interval in which s/he will be required to remedy the causes of this suspension (for example regularization actions to perform in case of the User's violation of her/his obligations or commitments pursuant to these GTC or communication of information and documents for the analysis of the situation by the Company, etc.). If not specified otherwise, this period is 7 (seven) days.

Should the User not comply with the demands of the Company within the time limit set by the latter, the Company reserve the possibility of definitively closing the User's User Account for fault and terminating these GTC under the conditions of the article "Repudiation - termination" hereof.

Without prejudice to the above, in case of violation by a User of her/his obligations or commitments pursuant to these GTC or if the Company consider that there are sufficient elements allowing one to think that the User could be in violation of her/his obligations and commitments pursuant to these GTC, the Company reserve the right to take any appropriate measure and in particular to publish on the Site any information message that the Company deem useful, to warn any authority concerned and to take any legal action.

6.4 Closing and deletion of the User Account

6.4.1 General principles

The User may request the closing and deletion of her/his User Account directly from her/his User Account or by e-mail sent to the following address: support@vancelian.com.

The closing and deletion of the User Account by the Company may occur in any event within a period of two years from the last connection of the User to her/his User Account in the event that s/he held no Digital Asset in her/his User Wallet during this period of two years.

Moreover, the Company will proceed with the closing and deletion of the User's User Account in case of termination of these GTC.

In this regard, and unless indicated otherwise in these GTC, the closing of the User Account implies the impossibility for the User to connect to it and/or to benefit from the Services / to use the Services requiring such a connection to the User Account, as well as the deletion of said User Account.

It is further specified that only the User is responsible for ensuring the conservation and safeguard of the information and documents transmitted by or to the Company, or more generally via the Platform and/or registered or stored in the User Account.

The closing and deletion of a User Account, whatever the cause or initiator, will not give rise to any compensation of any kind for the User.

6.4.2 Special situations

If a Transaction or other operation is in progress at the time of the closing of the User's User Account, the Company reserve the right to cancel this Transaction or operation before deleting the User Account.

In case of the User's death, the Company will be able to proceed with the transfer of the User Account and of the related Digital Assets and/or Fiat currencies to the assigns in fulfilment of a precise and express request in this sense from the assigns and on presentation of the required justifications, in return for the payment of Intervention Fees and withdrawal Fees in accordance with the provisions of the article "Financial conditions".

6.4.3 Sale and/or Withdrawal of Digital Assets

In case of closing of the User's User Account, the User must settle her/his outstanding payments, expenses, debts, etc. due to the Company within a maximum period of 7 (seven) days.

After such settlement, the User shall sell or withdraw all of her/his Digital Assets and/or Fiat currencies from her/his User Account within a maximum period of 15 (fifteen) days following the closing of the User Account. In this context, the Company will be able to apply specific restrictions with regard to the use of the Services by the User (e.g.: blocking of certain Transactions, etc.). Where the User fails to action the sale or withdrawal of the said Digital Assets and/or Fiat currencies within this period, the remaining Digital Assets and/or Fiat currencies should be wired on a verified bank account opened in the name of the User.

The sale or withdrawal by the User of her/his Digital Assets and/or Fiat currencies may be made under the conditions indicated in the article "Performance of Transactions". For the avoidance of doubt, withdrawal Transactions are subject to Fees that may exceed the sum of the Digital Assets and/or the Fiat currencies. Such a case implies an obligation for the User to carry out the sale thereof, or failing that, to definitively waive/renounce the said Digital Assets and/or Fiat currencies. The User shall contact the Company without delay in case of difficulty relative to the sale or withdrawal of her/his Digital Assets and/or Fiat currencies following the closing of her/his User Account.

Notwithstanding the above, in case of suspension or closing of the User's User Account following a suspicion of illicit activity or fraud (notably corruption, financing of terrorism and/or money laundering, but also performance of or participation in market manipulation) or in case of illicit activity or proven fraud, or in case of violation of the applicable laws and regulations or of these GTC, or in case this suspension or closing results directly or indirectly from a request of a competent authority, the Company will be able to immediately prevent the User from connecting to her/his User Account and/or to benefit from and use the Services of the User Account. Moreover, the Company will not be obligated to return the Digital Assets and/or Fiat currencies in the User's User Account and it reserves the right to provide them to the relevant Competent Authorities where required.

In the event that the User has not proceeded with the full withdrawal of their funds within the time limits set out above, or within the time limits communicated to them by the Company by any appropriate means, the Company reserves the right, in accordance with these Terms and Conditions, to proceed with the reimbursement of the funds remaining in the User Account.

Such reimbursement shall be made exclusively in Fiat Currency and may involve, where applicable, the prior conversion by the Company of the relevant Digital Assets into Fiat Currency, to which the User expressly and unconditionally consents. By way of exception to the foregoing, AKTIO tokens may not be converted into Fiat Currency and must be withdrawn by the User to an external wallet in accordance with the conditions set out in these Terms and Conditions.

Reimbursements shall be carried out exclusively on the basis of valid, accurate and previously verified payment details provided by the User and may be subject to Intervention Fees. In the absence of the required information, or in the event that such information is incomplete, inaccurate or invalid, the Company reserves the right to delay or suspend the reimbursement, without its liability being engaged on this basis.

7. Financial conditions

7.1 Prices of the Digital Assets

The User recognises having been informed of the absence of stability of the Prices of Digital Assets and of their particularly great volatility, with neither the Company nor its Partners bearing any responsibility in this regard.

In the context of a purchase or sale of Digital Assets, the price of the Digital Assets provided by the Company is solely dependent on the Exchange Platforms and is determined under their sole responsibility, without any control by the Company.

The Price of the Digital Assets that may be the subject of a Transaction can be viewed by the User on the Platform at the moment “T” when the User makes her/his request. The displayed Prices are not by default denominated in Digital Assets or any other Fiat currency, but as a quantity of one type of Digital Asset that can be exchanged for another quantity of another type of Digital Asset. However, the User may view, for information purposes, the corresponding amount equivalent to the quantity of Digital Assets offered for exchange and/or requested for exchange, in the Fiat currency of his/her choice, amongst those offered on the Platform.

7.2 Transaction Fees

The completion of Transactions are services offered to the User for a fee. The User is thus required to pay the Transaction Fees specified hereafter to the Company (barring contrary indication in these GTC specifying that the Fees may be owed to a third party) and authorises the Company to take from her/his User Wallet, or from the amount of the realised Transaction, all Transaction Fees possibly owed in accordance with these GTC.

The rates are subject to change / revision at any time. In case of a rate update, the new rates apply to all Transactions initiated and validated by the User after the effective date of the new rates.

The Fees applicable to Transactions carried out by Users may vary according to the type of Loyalty Status subscribed by the User.

Loyalty Status Fees are available on the Platform via the following section: https://vancelian.com/memberships/.

7.3 Intervention Fees

Intervention Fees can be owed by the User to the Company in the circumstances anticipated in these GTC. In addition, such Intervention Fees are also due in case of an error or mishandling attributable to the User in the context of the performance of the Transactions, and more generally in the use of the Services, as well as in the following cases:

failure to comply with minimum limits, maximum limits;
issue of an erroneous or incomplete order.

7.4 Payments

The amount of the Intervention Fees, depending on the type of intervention, is detailed in the "Rates" section. The Intervention Fee is independent of the Transaction Fee and is in addition to the Transaction Fee payable by the User.

The Fees when owed to the Company, are payable upon validation of the Transaction by the User or in absence of a Transaction, upon the realisation of the intervention giving rise to Intervention Fees.

Any delayed payment or non-payment of an amount owed on its due date indicated above will result, without the need for a reminder, in the application of late penalties. The interest rate for such late payment penalties will be 5%.

Such penalties will be calculated and will be owed without prejudice to the right of the Company to claim compensation for its loss arising from late payment or non-payment. The penalties will be owed as from the day following the payment date of the sums owed and until the day of their collection by the Company.

Finally, any User in a situation of late payment will be required to pay fixed compensation for recovery expenses, equal to 40 EUR to the Company. If the incurred recovery costs are greater than this compensation, the Company may request additional compensation on justification. However, the Company may not claim the benefit of such compensation in case of the opening of safeguard, recovery or liquidation proceedings that would prohibit the payment of the debt owed to it on its due date.

7.5 Price and Fee disclaimer - No guarantee

The Price of a Digital Asset and the amount of the Transaction Fees are fixed at the moment “T” when the User validates the Transaction. However, given the particularly high volatility of Digital Assets, it is possible that the Price of a Digital Asset and the amount of the Transaction Fees may not be strictly identical between the time the User views them upstream and the time s/he then actually validates the Transaction.

The Prices and Transaction Fees may therefore vary, either continuously or from time to time, and at any time. Apart from the cases in which cancellation of a Transaction is possible in accordance with these GTC, Transactions are irreversible and the User cannot request cancellation due to a Price change or a change in the rates of the Fees that would occur after the validation of the Transaction.

Furthermore, the Price set at the moment “T” when the User validates the Transaction is not guaranteed, nor is the amount of the associated Fees:

in case of a Transaction that is validated but not effectively completed and executed;
following a modification of the Transaction requested by the User or resulting from an error or mishandling attributable to the User;
in case of non-compliance with these GTC by the User;
in case of suspension or closing / deletion by the Company or by the User of the User Account of the latter;
in case of cancellation of the Transaction by the User or by the Company under the conditions envisaged in the GTC;
in case of force majeure;
in case of failure or interruption of the Platform and/or Services due to one of the cases mentioned in the article "Availability of the Platform and Services".

7.6 Negative balance of the Payment Account

The User expressly acknowledges and agrees that, in the event a negative balance is identified by ModulR on their Payment Account for any reason whatsoever (including but not limited to rejected direct debit, chargeback, banking fees, other fees, or errors attributable to the User), the Company shall be entitled, after prior notification to the User under the conditions set out below, to convert part of the Digital Assets held by the User in their User Digital Wallet solely for the purpose of restoring a zero or positive balance on the User’s Payment Account. The Company shall execute such operation in the order and strictly to the extent necessary to repay the outstanding amount, including applicable fees.

The Company shall notify the User by any appropriate means (notification within the Mobile Application and/or email) at least forty-eight (48) hours prior to any conversion of Digital Assets. In the absence of any action or regularisation by the User within this period, the Company may automatically proceed with the conversion of the Digital Assets necessary to restore a zero or positive balance on the Payment Account.

The User expressly acknowledges and agrees that:

the Digital Assets available in their User Digital Wallet may be used for this purpose;
conversions shall be carried out at the market price at the time of execution;
the Company shall not be held liable for any price fluctuations that may occur before, during, or after such conversion;
no dispute may be raised regarding the order of allocation, the quantity of Digital Assets used, or the financial outcome of this operation, provided it has been carried out in accordance with this article.

It is specified that Intervention Fees may apply to this operation.

8. Respective obligations of the Parties

8.1 Obligations of the Company

The Company required to respect the terms and conditions stipulated in these GTC. The Company make the Services available to the User, including access to the Platform, and is therefore subject to an obligation of means.

Notably, the Company endeavours to maintain the accessibility to the Platform and to the Services, as defined in the article "Terms of Use of the Platform and the Services" hereof.

8.2 Obligations of the User

The User has ensured that the Platform and Services are in line with her/his needs, that they correspond to her/his expectations and that s/he has the skills and knowledge, particularly technical and financial, as well as the necessary computer environment, to use the Platform and the Services correctly.

The User is required to comply with the terms and conditions of these GTC. The User is solely responsible for her/his use of the Platform, her/his User Account and the Services, as well as for the acts and deeds of the persons authorised by her/him to access her/his User Account, including with regard to any subsequent performance of Transactions.

The User is required to use the Platform and Services in accordance with the legal and regulatory provisions applicable within the various jurisdictions in which the activities and business related to the Transactions and operations involving Digital Assets are conducted and will not use the Platform and/or the Services for any illicit or illegal purposes, or for any purposes other than those for which the Platform and the Services are made available to the User.

9. Liability

The User will be liable for the obligations incumbent on her/him under these GTC and in accordance with the rules of Irish law.

The commitment of the Company concerns exclusively the supply of the Services in accordance with the provisions of these GTC and under all reserves notably formulated in case of Service supplied by a Partner. The Company bear liability only in this regard.

The Company draw the User's attention to the risks inherent in any economic operation, for which it bears no liability (cf. notably the article "Warning - risks inherent to the Services").

In addition to the circumstances envisaged in these GTC relative to which the Company cannot be held liable, the Parties agree that:

the Company can be held liable for a poor execution or non-execution of its obligations in compliance with these GTC only in case of proven fault. Moreover, the Company can be held liable only for direct and reasonable loses or damages incurred by the User because of a failure of the Company to meet the obligations incumbent upon it pursuant to these GTC. The Company can in no case bear liability for indirect losses or damages of any kind, including but not limited to any loss or absence of profit, performance, advantage or capital gain notably financial or in terms of turnover, revenues, expected savings or investments: the Company will not be liable to the User nor will any refund be sought by the User in respect of the loss of any Digital Asset and/or any purchased Fiat currency, deposited, exchanged, withdrawn, or sold by the User through the Platform and/or the Services, unless with the context of a Transaction when the relevant Company has an obligation to (i) deliver Digital Assets or AKTIO Coins bought or exchanged by an User or (ii) pay the Price of Digital Assets or AKTIO Coins sold by an User. Moreover, in the absence of gross negligence or wilful misconduct, the Company cannot be held liable to the User for any foreseen or foreseeable damages. In addition, it is agreed that the liability of the Company towards the User is, in the absence of imperative provision contrary, limited / capped for all causes in the amount paid (“Amount paid”) by the User to the Company for the Services in the past 12 months preceding the event giving raise such liability, it being specified that the Amount Paid is related to Fees paid by the User excluding the value of Digital assets and Fiat held by the Company in relation to such User or to her/his User Account.
the Company cannot be held liable for damages incurred by the User because of non-fulfilment of its obligations by the Company that results from a case of absolute necessity or from the fact of a third party including another User or user;
the Company cannot be held liable in case of abnormal use, which includes a use not in conformity with these GTC, or fraudulent or illicit use of the Platform or Services by the User;
the Company are not responsible for the functioning (or malfunction) of the User’s phone equipment, nor for her/his access to the Internet or to any network (telephone network, Internet network, telecommunication network or electronic communication, etc.);
the Company are not responsible in case of fault on the part of the User or damage resulting from a lack of diligence or vigilance of the User, nor for the consequences or damage, of any nature, that could result with regard to whomever, whether a third party or other user or User;
the Company are not responsible in case of forgo theft of the Identifiers, cracking of the aforementioned Identifiers by a third party and other circumstances of hacking of the User's User Account or of her/his means of access to the User Account;
the Company are not responsible for data losses or delays in the progress or processing of a User’s Transaction that results from an interruption or suspension of the Platform or Services, regardless of duration;
the Company are not responsible for the User's choices and decisions concerning the use of the Services and notably the performance of Transactions involving Digital Assets, notably including but not limited to any erroneous decision notably relative to a Transaction, the performance by the User of incorrect or inappropriate Transactions, an error with regard to the User Wallet Address. In this regard, and considering the risks inherent to the use of the Services such as notably explained in the article "Warning - risks inherent to the Services", the Company are not responsible for the possible financial losses incurred by the User and resulting from the use of the Services;
the Company are not responsible for any malfunction or failure of the Platform or of the interface or Services managed and/or controlled by a Partner;
the Company are not responsible for any malfunction or failure of Partners’ websites or Exchange Platforms;
the Company are not responsible for non-compliance with the laws of the country in which the Services are accessible: the User, who is solely responsible for the choice of the Services that s/he uses, must check their compliance with the legislation of the country in which the Service is accessible and more generally with the legislation applicable to her/him;
the Company shall not be responsible or liable for the following:
- dereferencing or deletion from the Platform of a type of Digital Asset as a result, for example, of its low attractiveness in relation to the volume of orders placed by market participants or to a legislative or regulatory change or the disappearance of the relevant network / Blockchain. The Company will make reasonable efforts to inform the User of this at least thirty (30) days before the aforementioned dereferencing or deletion so that the User can carry out a withdrawal or sale Transaction of its relevant Digital Assets, but could, depending on the potentially arising circumstances or situations, be unable to meet this time limit, which the User recognises and accepts;
- the sudden disappearance of the Platform for any reason whatsoever. In this hypothesis, the Company would not be required to meet the aforesaid deadline of thirty (30) days insofar as no further Transaction could occur.

The Company shall not be responsible or liable for:

temporary or permanent unavailability of access to all or part of the Platform or the Services offered therein, difficulties related to response time, and in general, any performance defect, as well as the consequences or damage of any kind that may result;
discontinuities or disruptions in the use of the Platform and the Services contained therein, whether voluntary or not, nor the consequences or damage of any kind that may result from them or that may result from changes or technical or functional developments of the Platform or Services;

including (but not limited to):

maintenance, updates or technical adjustments;
breakdown of telecommunications equipment or failure of a network provider (telephone network, internet network, telecommunications or electronic communication network, etc.);
and more generally failures or interruptions (temporary / definitive, partial / total, etc.) of the Platform and/or Services that would be related to one of the cases mentioned in the article "Availability of the Platform and Services";

and the resulting consequences.

Similarly, the Company shall not be responsible or liable for the diversion of information circulating via the Internet or seized on the Platform, for the presence of viruses, malicious codes or other harmful technologies or other software infections on the Platform or of any consequences or damage resulting from it.

The Company shall not be liable for any consequences or damages of any kind that may result from errors or omissions in the contents published on the Platform or in the answers to contact requests, nor for any delay with regard to answering such requests.

In order for the responsibility of the Company to apply, if necessary, the User must notify the Company of any request or any failure relative to its obligations pursuant to these GTC, without delay as from the moment when the User has knowledge of it.

The provisions of this article "Liability" will survive the termination of these GTC, regardless of cause, until the end of their particular purpose.

10. Repudiation - termination

10.1 Repudiation

The User may repudiate the GTC (i.e. end them) at any time and without notice, provided that s/he deletes his/her User Account in accordance with the provisions and conditions indicated in the article "Closing and deletion of the User Account".

The Company are authorised to repudiate and put an end to these GTC, without the User being able to claim unspecified harm as a result, under the conditions and according to the following provisions:

Should a law, regulation, decision of an authority or competent jurisdiction prevent the Company from continuing all or part of the GTC (and therefore of the Services) between the Parties, or if the Company have reasons to believe that continuing all or part of the GTC (and therefore of the Services) is impossible because of this fact, while providing at least thirty (30) days of notice, except if the law, regulation or decision indicated in this article prohibits or does not allow the Company to respect such a notice period. In addition, the Company may, at their sole discretion, subject to the above notice, unless conditions do not permit such notice, repudiate any or all of the GTC (and therefore terminate any or all of the Services) in order to comply with any laws, regulations, rulings or decisions applicable to the business of dealing in or handling Digital Assets;
In case of a technical or security problem affecting the Platform and/or the provision of the Services, including but not limited to the event that a Partner suspends or terminates the provision, maintenance or administration of the Platform upon thirty (30) days prior notice, or, only if conditions do not permit such notice, immediately without notice;
For convenience, at the discretion of the Company and without the need for a reason or any justification, which the User expressly accepts under these GTC, subject to reasonable notice addressed by email to the User (such email being to the one provided by the User in her/his User Account) of not less than then (10) days and not more than thirty (30) days, except if the law, regulation, a decision rendered by an authority, an emergency situation or a situation of particular gravity, prohibits or does not allow the Company to respect such a notice period.

Barring contrary provisions in this article, and barring prohibition resulting from a legislative or regulatory text or from a decision of a competent authority, any repudiation on the initiative of the Company is preceded by sending an electronic mail to the e-mail address provided by the User in her/his User Account, informing the User of this repudiation and of the date on which the repudiation will be effective, in compliance with the periods and notices recalled herein. In the absence of any requirement for the Company to give notice, this e-mail is concomitant with the repudiation.

10.2 Termination

The termination of the GTC can occur on notification by the Company, in addition to the cases specifically found in the terms of articles of these GTC and without prejudice to all damages and interest that could be claimed to the User, in the following cases:

For failure by the User to comply with any of its obligations or commitments under these GTC, notably in case of failure to comply with its obligations under the articles "Description of the Services", "Terms of use of the Platform and Services", "Terms of use of the User Account", "Financial conditions" and "Respective obligations of the Parties", seven (7) days after the User has been given a formal notice to comply with its obligations and/or commitments which has remained unsuccessful;
Should the User not comply with the demands of the Company within the time limit indicated by the latter in the circumstances described in the article "Suspension of the User Account", seven (7) days after the notification to the User of a formal demand to comply which has remained unsuccessful;
In case of serious breach on the part of the User that entitles the Company to terminate the GTC without notice and without prior formal demand, while specifying that in such a circumstance, the Company can terminate these GTC by means of simple information sent by electronic mail to the e-mail address provided by the User in her/his User Account. For this reason, the following notably constitute serious breaches on the part of the User that entitle the Company to terminate the GTC without notice:
- the fact that a User registers in the name of another person in order to circumvent a ban on creating a User Account;
- the fact that a User provides false, inaccurate, outdated, obsolete or incomplete information (for example, information on her/his identity or contact details), or that s/he fails to update some of this information, or that s/he communicates false documents (e.g. a copy of a letter, a copy of a document or a copy of a document:
- the fact that a User refuses to accept the modified GTC by requesting the deletion of her/his User Account;
- the use of the Platform and/or the Services, voluntarily or not, for illicit or fraudulent purposes or activities;
- the non-payment by the User of Transaction Fees owed to the Company (or to a Partner of the latter);
- any other serious breach of these GTC or of applicable laws and regulations.

The notices indicated in this article are sent by the Company by electronic mail to the e-mail address provided by the User in her/his User Account. The Company will then inform the User, by the same means, of the actual termination of the GTC. In the absence of obligation for the Company to provide the User with prior formal notice, an e-mail will nevertheless be sent to the latter in order to inform her/him of the termination of the GTC.

If the termination of these GTC by the Company occurs when a User has failed to comply with and breached these T&Cs (e.g.: provided false documents, used User Account to launder illicit funds or commit fraud, etc.), the User expressly acknowledges and accepts that he/she is not entitled to a refund of the AKTIO Coins in his/her wallet where the AKTIO Coins were obtained via welcome bonus or referral bonus.

10.3 Consequences

In case of termination or repudiation of these GTC within the framework of this article "Repudiation - termination", the Company will close and delete the User's User Account according to the provisions of the article "Closing and deletion of the User Account" hereof.

However, in the event of proven fraud or reasonable suspicion of fraud, the Company reserves the right to block all or part of the funds held in the relevant User Account. These funds may, if necessary, be returned to the identified victim of the fraud, to an authorized third party within the framework of a recall procedure, in accordance with applicable legal and regulatory obligations, and/or to any competent authority (including, where applicable, the Agency for the Management and Recovery of Seized and Confiscated Assets – AGRASC). The User will be informed of any measures taken against them and will have the opportunity to contest this decision by providing appropriate supporting documents. Such a measure may be taken even after the closure or deletion of the User Account if deemed necessary to comply with legal requirements or to protect the rights of affected third parties.

Clauses that by their nature or purpose must continue beyond the end of the GTC will continue and remain applicable after the end of the GTC, until the end of their respective individual purpose, unless a specific term is indicated in the GTC. For example, commitments entered into for a fixed term under the General Terms and Conditions of Use will survive their termination until their contractually specified expiration date.

11. Personal data and cookies

Personal data may be processed through the Platform. The User may access the Company "privacy policy" in the Website.

Cookies and other tracers or similar technologies may be installed and/or read in the User's browser or terminal when visiting the Platform. The User may access the Company “cookie policy” in the Website.

12. Intellectual Property

These GTC do not entail any transfer, concession or licence of intellectual property rights or sui generis right of the database producer for the benefit of the User.

The overall Platform, as well as each of the elements comprising it taken independently, notably the programs and developments, its structure, and the contents including data, texts, fixed or animated images, logos, sounds, graphics, photographs, files, are the exclusive property of the Company or of third parties that have provided it or conceded the right to exploit them.

Any representation or reproduction, total or partial, of the Platform or of any of its elements without the express authorisation of the Company is prohibited and would constitute an infringement and/or an act of unfair competition or parasitism. In any case, on any representation or reproduction authorised by the Company of all or part of the Platform or the elements that comprise it, the words "Copyright [current year] AUTOMATA FRANCE SAS - all rights reserved” must appear.

The databases present on the Platform are protected by intellectual property and any extraction or reuse of qualitatively or quantitatively substantial content of the databases is prohibited and subject to penalty.

The brands and logos appearing on the Platform are trademarks registered by the Company or by third parties. Any reproduction, imitation, or use, total or partial, of these distinctive signs without the express authorisation of the Company or in violation of its intellectual property rights results in liability on the part of their author.

The other distinctive signs, notably the corporate names, commercial names, signs, domain names reproduced on the Platform are the property of the Company or of third parties, and any reproduction thereof without express authorisation is likely to constitute identity theft that results in liability on the part of its author.

13. Evidence agreement

13.1 Computer traces

The User acknowledges that the Platform or the tools implemented on the Platform, and notably as part of the User's User Account or the Services, allow for the traceability of certain completed actions and operations (notably the traceability of the Transactions performed or the acceptance of the GTC), as well as the delivery of certain notifications and certificates, notably for reasons of security and evidence. These traceability procedures generate computer traces or event logs (the "Computer Traces").

The User acknowledges that the Computer Traces generated by the Platform, as well as their possible reproduction on a paper or electronic medium, allow proof of the use of the Platform, the User Account and the Services, and notably proof of the completion of a Transaction, the publication of content, the input of information, the delivery of information or consent / acceptance.

13.2 Electronic writings

The User formally acknowledges that exchanges with the Company may take place by any means, notably by electronic message sent to the e-mail address mentioned in the User Account or mentioned in the User's correspondence, or by means of all documents and other electronic writings resulting from the use of the Services, notably Computer Traces, and more generally resulting from the execution of these GTC, as well as those accepted or signed electronically (the "Electronic Writings").

The User recognises that the Electronic Writings provide valid proof of a fact or the content of the exchanges, and that in general any trace or any computer and/or electronic document emanating from the Company, from the Platform, from the User Account or from the use of the Services serves as proof between the Parties.

The User also acknowledges that the Electronic Writings:

constitute original documents between the Parties;
are proof between the Parties of the medium and the content that they represent;
justify the possibly resulting consequences and operations (for example, proof that an action - including a Transaction or an acceptance for example - has been performed via the Platform or the User Account by means of Computer Traces);
provide proof of the dates and times associated with the Electronic Writings;
are admissible as evidence in a court of competent jurisdiction.

In any event, the User formally waives the right to claim the nullity, non-application, lack of legal evidential value or non-enforceability of the Electronic Writings on the grounds that they are issued by the Company, the use of the Platform, the User Account, the Services or the Computer Traces, or that they are in electronic form.

No fault on the part of the User in the management of delegations of powers will be enforceable against the Company in order to set aside the legal value of the Electronic Writings.

13.3 Retention and archiving

The Parties will be personally responsible for the preservation and archiving of the Electronic Writings.

Each Party will use the means and procedures that it deems necessary for preservation and archiving purposes. It is the User's responsibility to seek information on this matter from archiving professionals and to take all appropriate measures.

For your information, the Company will keep a record of the User's execution of each Transaction and the related acceptance of these GTC for a period of ten (10) years from the execution of the Transaction, and while guaranteeing access to it at any time during this same period.

These elements are retained by the Company in electronic format. These elements are an integral part of the Electronic Writings. The User may access them by sending an e-mail request to support@vancelian.com.

14. No right of withdrawal

a. Principle applicable to Transactions

You expressly acknowledge that Transactions involving Digital Assets are to be carried out immediately.

Therefore, no right of withdrawal may be exercised in respect of the Transactions described in these GTC.

The User expressly acknowledges and accepts that the right of withdrawal cannot be exercised for Transactions involving Digital Assets. The User wishes that Transactions involving Digital Assets be carried out immediately.

Therefore, the User expressly agrees in advance and expressly waives his right of withdrawal.

b. Exceptions

In the following specific circumstances, the User may exercise its withdrawal right when:

Pre-ordering a PaymentCard, pursuant to article 4.2.6 b. of these GTC;

Such right may be exercised as follows:

1. Pre-ordering of a PaymentCard

The Company grant Users the right to withdraw the pre-order of a PaymentCard without having to justify, explain the reasons of such withdrawal or pay penalties, for reimbursement.

Such right may be exercised until the pre-order is handled by the Company through the ordering and User’s customisation process, which will be notified to the User on the Platform and/or via email (“Notification”).

After such Notification, no refund shall be applicable to the User’s order and the User shall provide update and/or confirmation on his/her personal address through the Platform.

2. Information on withdrawal right

The right of withdrawal can be exercised by e-mail (support@vancelian.com) or by mail 965, avenue Roumanille, COLOFT - Arteparc Sophia Antipolis Bâtiment A, 06410 Biot using the withdrawal form in Appendix 3.

The right of withdrawal may also be exercised by the Client by means of an unambiguous statement expressing the will to withdraw and mentioning the order concerned by this withdrawal.

If the right of withdrawal is exercised within the above-mentioned periods, only the price of the order shall be refunded, which will be detailed by the Company. The reimbursement shall be made within 30 days from the date of receipt by the Company of the notification of the Client’s withdrawal.

If the right of withdrawal is exercised after the above-mentioned periods, no refund shall be applicable to the User’s order.

15. Absence of legal guaranties

No legal guarantee of conformity applies to the Services and to these GTC.

No guarantee for defects in the goods sold will apply to the Services and these GTC.

In this respect, it is specified for all practical purposes that the use of the terms Sale/sale/sell and Purchase/purchase/buy, and certain associated terminology, within the framework of these GTC or on the Platform, notably to designate certain transactions or actions, is purely explanatory and descriptive. The use of these terms is without prejudice to the legal characterization of the transactions and actions indicated in these terms under any applicable provisions. In any event, under the terms of these GTC, the Company conclude with the Users a contract of services and not a contract of sale.

16. Miscellaneous

16.1 Force majeure and unpredictability

16.1.1 Force majeure

The Company shall have no liability to the User in case of non-performance or delay in performing its obligations or from carrying on its business under these GTC resulting from acts, events, omissions or accidents beyond its reasonable control, including but not limited to the following:

By express agreement between the Parties, the following constitute force majeure:

the theft of assets, notably of Digital Assets, of which the Company or one of its Partners would be the victim, by any means whatsoever;
absence of energy supply, including power cuts or failures;
disruption of private or public communication networks, including total or partial shutdown of the Internet;
hacking that notably makes it impossible for the Company and/or its Partners to restore the Services in question;
bad weather and climatic events (storm, hail, lightning, hurricane, etc.)
natural disasters, earthquakes, floods, water damage;
magnetic fields;
falling aircraft;
acts of terrorism;
war, riot, armed conflict, fire, explosion, internal or external strikes, lock out, occupation of the premises of the Company;
legal or governmental restrictions, legal or regulatory modifications to the forms of marketing;
accidents of any kind;
epidemics, pandemics, diseases affecting more than 10% of the personnel of the Company within a period of two consecutive months;
blocking of roads and impossibility of obtaining supplies.

16.1.2 Unpredictability

The Company draw the attention of the User to the risks inherent in any economic operation, notably to any Transaction involving Digital Assets. Use of the Services by the User implies acceptance of these risks. In this respect, any financial losses suffered by the User and resulting from the use of the Services will not constitute a situation of unpredictability and will not give rise to the right to take advantage of any legal or regulatory provisions that may be applicable to such a situation, which the User formally acknowledges and accepts. The same applies more generally in the event that the contractual balance is upset by circumstances that were unforeseeable at the time of the conclusion of the GTC, even if their execution proves excessively burdensome, with the User agreeing to bear all economic and financial consequences and in this case to waive the possibility of claiming any legal or regulatory provisions that would be applicable to such a situation of unpredictability.

16.2 Non-waiver

The fact that one of the Parties tolerates a situation, for example the fact of not taking advantage of the application of certain provisions of the GTC or of certain legal or regulatory provisions, whatever the frequency and duration, cannot be considered as a modification of the GTC nor have the effect of granting acquired rights to the other Party.

Moreover, such tolerance by one of the Parties, even if repeated, will not constitute or be interpreted as a waiver by the latter with regard to asserting or exercising the rights in question or to availing itself of any of the provisions of these GTC.

16.3 Interpretation

In case of interpretation difficulties resulting from a contradiction between any of the titles appearing at the start of the articles and any of the articles, the titles will be declared non-existent.

16.4 Severance

If one or more provisions of the GTC are found to be null and void, invalid, illegal or inapplicable or declared as such, in application of a law, a regulation or following a final decision of a court or competent authority, the other provisions will remain applicable and will retain all of their force and scope.

16.5 No partnership or agency

Nothing in these GTC is intended to, or shall be deemed to, establish any partnership or joint venture between the parties, constitute either party the agent of the other, or authorize either party to make or enter into any commitments for or on behalf of the other party.

16.6 Subcontracting

For the purposes of the execution of the GTC and notably to supply the Services, the Company will be able to have recourse to subcontractors, while specifying that the Company will remain, with respect to the User, responsible for the execution of the GTC in accordance with the terms and conditions of the GTC.

16.7 Assignment

Except as expressly authorized herein, the User's User Account may not be assigned or transferred to a third party, and the User may not assign or transfer the GTC, or any of her/his rights and obligations under the GTC, to a third party.

The User formally agrees, in advance, that the Company can assign or transfer to a third party the GTC or all or part of its rights and obligations under the GTC, without notice or prior information for the User.

16.8 Calendar days

Unless otherwise stated, the periods and times indicated in these GTC are in calendar days.

17. Language - Applicable law and jurisdiction

THESE GTC ARE WRITTEN IN ENGLISH. IF THEY ARE TRANSLATED INTO ONE OR MORE FOREIGN LANGUAGES, ONLY THE ENGLISH TEXT WILL BE DEEMED VALID IN CASE OF A DISPUTE.

THE PLATFORM IS GOVERNED BY THE LAWS OF FRANCE.

THESE GTC AND THE RELATIONSHIP BETWEEN THE Company AND THE USER ARE ALSO GOVERNED BY THE LAWS OF FRANCE.

IN CASE OF DISPUTE AS TO THE INTERPRETATION OR EXECUTION OF THE GTC, THE PARTIES WILL MAKE REASONABLE EFFORTS TO FIND AN AMICABLE SOLUTION.

Any User who is a consumer within the meaning of applicable law may, free of charge, refer to the services of a consumer mediator with a view to the amicable resolution of a dispute with the Company.

In order to contact this body, the User may:

A dispute may only be examined by the consumer mediator if:

the User justifies having tried, beforehand, to resolve his dispute directly with the Company by a written complaint expressly identified as such detailing the reasons for his complaint as well as all the information useful to the Company to understand, study and appreciate the causes, consequences and incidences of this complaint, and sent by e-mail to: reclamations@vancelian.com;
the claim is not manifestly unfounded or abusive;
the dispute has not been previously examined or is not being examined by another mediator or by a court;
the User submits his request to the mediator within a maximum of one year from the date of his written complaint to the Company;
the dispute falls within the competence of the mediator.

The User will be informed by the mediator of the action taken on his or her request for mediation.

Furthermore, the User is informed that in accordance with Article 14 of Regulation (EU) No. 524/2013, the European Commission has set up an Online Dispute Resolution platform, facilitating the independent settlement by extrajudicial means of online disputes between consumers and professionals in the European Union. This platform is accessible at the following link: https://webgate.ec.europa.eu/odr/.

IN THE ABSENCE OF AN AMICABLE RESOLUTION, THE COURTS OF FRANCE HAVE EXCLUSIVE JURISDICTION HEAR DISPUTES ARISING FROM THE APPLICATION OF THESE GTC OR RESULTING DIRECTLY OR INDIRECTLY FROM THE USE OF THE PLATFORM.

THESE PROVISIONS RELATING TO THE APPLICABLE LAW AND THE COMPETENT JURISDICTIONS ARE APPLICABLE SUBJECT TO THE IMPERATIVE PROVISIONS THAT WOULD HAVE TO BE APPLIED.

Date of last update: March 5, 2026

Appendix 1

CLIENT AGREEMENT

These Terms and Conditions include the following details:

(i) A description of the essential rights and obligations of the Company and Users, included within articles 4 'Service Descriptions', 5.4 'Availability of the Platform and Services', 5.7 'General Principles Applicable to Services', 8 'Respective Obligations of the Parties', and 9 'Civil Liability' of the Terms and Conditions.

(ii) The nature of the Services provided and the types of Digital Assets on which the Services are based.

In this regard, the Company detail the nature of the Services provided in article 4 of the Terms and Conditions.

Furthermore, the User is informed that while the majority of types of Digital Assets are accepted on the Platform, there may be some that are not. The list of Digital Assets accepted by the Company is available on the dedicated section of the Platform and may evolve at any time.

(iii) The pricing of the services provided by the provider of services on Digital Assets and the mode of remuneration of the latter.

the Company provides services for the custody of Digital Assets, the purchase and sale of Digital Assets against legal tender currencies, as well as the exchange of Digital Assets for other Digital Assets for a fee. In this respect, the Company is remunerated in accordance with the stipulations of article 7 'Financial Conditions' of these Terms and Conditions.

(iv) The duration of the validity of the agreement (as provided for in articles 3 and 10 of these Terms and Conditions); and

(v) The confidentiality obligations incumbent upon the provider of services on Digital Assets in accordance with the laws and regulations in force relating to professional secrecy.

In this regard, the Company specifies that in accordance with the confidentiality obligations imposed by laws and regulations relating to professional secrecy, it treats all information concerning Users, as well as all data relating to their Transactions, with the utmost confidentiality. the Company protects this information and does not disclose it in any form, except when required by law, regulation, or competent authority, in accordance with its personal data management policy or with the explicit consent of the User.

Apendix 2

CUSTODY AGREEMENT

These Terms and Conditions notably include the following details:

(i) The identity of the person(s) with whom the agreement is established (i.e., the legal entity concerned and described at the beginning of these, its information modalities, and persons authorized to act on behalf of the Company).

(ii) The nature and precise description of the Services provided (as provided for in article 4 herein).

In this regard, it is specified that the Company transmits to Users, as soon as they are available, the following information:

Information related to Transactions requiring a response from the User;
Information related to Transactions resulting in a modification of the User's account balances;
Information regarding the fork of a blockchain that has altered the Digital Assets of the User. Such communication informs the User of the impact of such a fork on the Digital Assets concerned. In the event of a fork, Users are deemed entitled to the Digital Assets resulting from the fork to the extent of their position at the time of the event. However, specific actions by Users may be necessary to retrieve the new Digital Assets. If a User is requested to perform a Transaction or specific action to retrieve the Digital Assets resulting from the fork, the User must comply with such request. Otherwise, the User may no longer be able to retrieve the new Digital Assets after a certain time; and
Information necessary for the completion of their tax declaration.

(iv) The security measures attached to the assets held by the Company.

The Company uses the services of its provider Fireblocks for the Digital Wallet infrastructure.

The Company has been audited for its Digital Asset custody infrastructure, which was conducted by a certified auditor, who did not reveal any particular weaknesses.

The Company undertakes to implement all reasonable measures to avoid additional operational risks.

(v) User authentication measures used by the Company (as provided for in article 6.2 herein).

(vi) The pricing of the Services provided by the Company within the scope of the Custody Service.

(vii) The duration of the validity of the agreement (as provided for in articles 3 and 10 of these Terms and Conditions);

(viii) The applicable law to the agreement (as provided for in article 17 of these Terms and Conditions); and

(ix) A description of the custody policy of the Company.

APPENDIX 3

Withdrawal form

This form must be completed and returned only if the Client wishes to withdraw from the order placed on the Platform, except for exclusions or limits to the exercise of the right of withdrawal according to the applicable GTC.

Addressed to: Automata France SAS - 965 Avenue Roumanille, COLOFT - Arteparc Sophia Antipolis Batiment A, 06410 BIOT

I hereby notify by mail (or by e-mail at the following address: support@vancelian.com) the withdrawal of the contract concerning the order below:

- Order dated: ...........................................................................................

- Order number: ........................................................................................

- Name of the Client: ...........................................................................

- Client's address: .................................................................................

Signature of the Client

(only if this form is notified on paper):