Third-Party Stablecoin (USDC/USDT) Disclosure

Multi-chain and treasury use

USDC and USDT may be supported on several networks and may exist as native, bridged or wrapped token contracts. A token with the same symbol on another network or at another contract address may have different issuer, bridge and redemption risks. Always rely on the contract and network selected in the App.

A stablecoin issuer or an authorised contract administrator may freeze addresses, block transfers, upgrade contracts or redeem tokens under its terms or applicable law. The Provider cannot reverse those issuer actions or guarantee direct redemption eligibility.

When enabled, swaps, cross-chain bridges, token purchases, Earn services and AZNS treasury settlement may use USDC or USDT. A bridge or protocol can be delayed, paused, exploited or illiquid, and the destination token may differ from the source representation.

The official USD/AZN rate is a fiat exchange-rate reference. USDC and USDT trade in digital-asset markets and may be worth more or less than one US dollar; therefore their manat value may differ from the official rate multiplied by one dollar.

Overview

This disclosure applies to the USDC and USDT stablecoins available in the app. Both are USD-pegged stablecoins issued by third-party issuers.

USDC and USDT may be available on one or more networks shown in the app's current asset and network registry. These assets are not issued or guaranteed by Baysart MMC (the "provider"). They are distinct from AZNS, which the provider issues.

Issuer liability

Each of USDC and USDT is a liability of its own third-party issuer. The provider does not back, redeem, or guarantee these assets.

Any claim relating to these assets lies against the relevant third-party issuer, not against the provider.

Redemption

Direct redemption (if any) is available only with the relevant third-party issuer and is subject to that issuer's own terms.

Within the app, you may buy, sell, or convert these stablecoins into other assets. In-app transactions are not a direct redemption with the issuer.

Reserve backing

The backing (reserves) for USDC and USDT is held and disclosed by the relevant third-party issuer.

The provider does not control or attest those reserves. Responsibility for the composition and disclosure of the reserves rests entirely with the issuer.

Not insured

USDC and USDT are not a bank deposit and are not covered by any deposit insurance.

The provider gives no guarantee as to the value or redemption of these assets.

No interest

Holding these stablecoins in the wallet earns no interest or yield from the provider.

Risks

The following risks apply to USDC and USDT:

• De-peg and market-value risk: the value of the asset may move away from 1 US dollar.
• Third-party issuer risk and smart-contract risk: failures of the issuer or of the underlying blockchain smart contract may affect the value and availability of the asset.
• Redemption-suspension risk: the third-party issuer may limit or suspend redemption.
• USD/AZN FX exposure: for users transacting in manat, changes in the exchange rate between the US dollar and the manat may result in a loss.

Availability and fees

Current network availability for USDC and USDT is shown in the app's asset and network registry and may change by service or jurisdiction.

Fees applicable to transactions are set out in, and determined by, the Fees Schedule.