Master User Agreement

August 2026 service scope

The App may provide access to self-custodial transfers, token purchases and sales, swaps and cross-chain bridges, tokenized tracker products, decentralised finance earning and lending, leveraged perpetual positions, prediction markets, and highly volatile tokens. Each service is available only when shown as enabled in the App and permitted for your account and jurisdiction.

Depending on the service, the Provider may act as treasury counterparty, obtain or route a third-party quote, sponsor a network fee, or deliver an unsigned transaction for you to review and sign locally. Local signing preserves control of your keys but does not remove protocol, issuer, liquidity, settlement, oracle, smart-contract or counterparty risk.

AZNS may be the amount displayed to you and the asset used for the Provider's settlement leg even where a third-party protocol operates in USDC, USDT or another asset. The official USD/AZN rate published by the Central Bank is an exchange-rate reference; it is not a guarantee that a USD stablecoin will remain worth exactly one US dollar or the corresponding manat amount.

Leveraged products, lending and prediction markets can create debt, liquidation or total-loss exposure and may be restricted or unavailable. The Provider does not provide personal investment, credit, tax or legal advice.

1. Provider identity

The Baysart mobile application and related services are provided by Baysart MMC (the "Provider", "we", "us", "our"). The Provider's name contains the words "kripto aktiv xidməti təminatçısı" (crypto-asset service provider).

Taxpayer identification number (VÖEN): 1703115231. Registered (legal) address: Baku, Azerbaijan. Contact email: [email protected]. Support and documents: https://wallet.baysart.com.

Regulatory status notice: The Provider is preparing for authorization under the forthcoming Azerbaijani law on crypto-asset markets and is not yet a licensed kripto aktiv xidməti təminatçısı. This Agreement is provided as a pre-licensing draft.

Once a licence is granted, the following information will appear here: licence number; date of issue; issuing authority Central Bank of the Republic of Azerbaijan. These slots are currently unfilled.

2. Definitions and third-party roles

The following definitions are used in this Agreement.

• User — the natural person (you) who creates an account in the Baysart application or uses the Services.
• Services — the non-custodial (self-custody) wallet, blockchain transactions, AZNS-based cash-in/cash-out, buy/sell/convert, and related functions.
• Wallet — the non-custodial wallet whose 12-word BIP39 seed is generated on your device, AES-256 encrypted, and whose signing is performed entirely on the device.
• AZNS — a manat-pegged stablecoin issued by the Provider (1 AZNS = 1 AZN).
• xStocks — tokenized US stocks and ETFs on the Solana blockchain, each backed 1:1 by the actual share held by regulated custodians; a tracker product that provides price exposure, not legal ownership of the underlying company.
• Payment Partner — a licensed e-money institution (white-label EMI); cash-in/cash-out is provided by or through it. The identity of the current card payment processor is published in the Provider's sub-processor register and is available in the App or on request. The Provider relies on this Partner's e-money authorization and is not itself the e-money institution.
• Identity Verification Provider — the party that performs KYC (know-your-customer) verification.
• Settlement/Liquidity Partner — the party off which buy/sell/convert prices are based.
• Cash Access Network — bank transfers, ATM cash networks and similar channels.
• Infrastructure Providers — hosting, blockchain node and similar technical services.
• Third-Party Service Providers — the above and other independent suppliers.

3. Supported Assets

The authoritative, current list of supported digital assets and networks is the list displayed in the App. References to specific digital assets or networks in this document or any other document are illustrative, may change, and do not create any obligation to continue supporting any particular asset or network.

4. Scope and incorporated documents

This Master User Agreement is the umbrella agreement governing the relationship between you and the Provider. It covers the non-custodial wallet and every cash-in, cash-out, buy, sell, convert, swap, bridge, protocol and trading service currently shown as supported in the App. The in-App asset and network registry is the authoritative current list; examples in legal text are illustrative.

The following documents are incorporated by reference into this Agreement and form an integral part of it. They must be read together with this Agreement.

• Non-Custodial Wallet Terms
• Services Agreement
• AZNS Terms
• Privacy Policy
• Risk Disclosure
• AML/KYC Policy
• Fees Schedule
• Complaints Policy
• Conflicts of Interest Policy
• Execution Policy
• Acceptable Use Policy
• E-Communications Consent
• Right of Withdrawal

5. Eligibility

To use the Services you must meet the following conditions.

• You must be at least 18 years of age.
• You must have full legal capacity to enter into a contract.
• You must not be a sanctioned or otherwise prohibited person.
• You must be in a permitted jurisdiction where the Services are offered.

6. Electronic acceptance and signature

By tapping the relevant buttons in the application, confirming with biometrics (Face ID / fingerprint), entering a PIN, or signing a transaction with the encrypted key on your device, you give legally binding consent to this Agreement and to the relevant transaction. Such confirmation constitutes your electronic signature and authorizes the execution of transactions.

Consent is given at the moment of the transaction; no transaction is executed without consent. You may withdraw future consent by logging out of the application, disabling biometric/PIN confirmation, or closing your account; however, transactions that have already been signed and broadcast to the blockchain cannot be reversed.

Owing to the non-custodial nature, the private key remains solely with you; the Provider cannot sign on your behalf or cancel a transaction.

7. Crypto-assets are not legal tender

Crypto-assets are not legal tender in the Republic of Azerbaijan and are not recognized as a means of payment. No crypto-asset, including AZNS, holds the status of national currency.

The value of crypto-assets is volatile and is not guaranteed by the state. The peg of AZNS to the manat relies on the Provider's reserve and solvency mechanisms and is not a state guarantee.

8. Fees summary

All applicable fees are set out in detail in the Fees Schedule, which is incorporated by reference into this Agreement. The principal fees are as follows.

Unless agreed otherwise, no fee is deducted from a transferred amount; fees are added on top of, or charged separately from, the transferred amount.

• The current Fees Schedule and the transaction confirmation screen control over any illustrative fee summary.
• Cash-in and cash-out fees, trading spreads, swap or bridge service fees, protocol or venue charges and network fees are disclosed before authorization where they apply.
• A sponsored network fee is paid by the Provider or sponsor; if sponsorship is unavailable, the App must show that the user will pay the network fee before signing.
• Limits are dynamic and may be lower because of verification tier, liquidity, treasury capacity, protocol limits, compliance controls or jurisdiction.

9. Tax responsibility

You are solely responsible for assessing, reporting and paying any taxes arising from your use of the Services. The Provider does not give tax advice.

The Provider withholds or reports only where required by law or by the tax authority.

10. Amendments

The Provider may amend this Agreement and the incorporated documents. For material changes, beyond the statutory minimum of 30 days' notice, the Provider gives at least 60 (sixty) days' advance notice.

Fresh acceptance is required before a material change takes effect. Silence may be treated as acceptance only for non-material changes.

If you do not accept the changes, you may terminate the Agreement free of charge before the effective date.

11. Termination

You may terminate this Agreement at any time, free of charge.

Any fees paid in advance are refunded within 3 (three) calendar days of termination, net of the value of services already rendered.

For indefinite-term contracts, the Provider may terminate on at least 30 (thirty) days' advance notice. The Provider may impose immediate restrictions for reasons of legal breach, fraud or security.

Owing to the non-custodial nature, you retain control of your on-chain assets through your seed phrase even after termination.

12. Complaints and disputes

You may submit complaints to [email protected] or via https://wallet.baysart.com. Complaints are answered within 7 (seven) working days.

Your right to an extrajudicial complaint and your right to bring a matter before the courts are preserved; this Agreement does not limit those rights.

Regulator contact: Central Bank of the Republic of Azerbaijan (cbar.az).

13. Acceptable use (summary)

Use of the Services for market manipulation, market abuse, money laundering, terrorist financing, or any unlawful purpose is prohibited.

The full rules are set out in the Acceptable Use Policy and form an integral part of this Agreement.

14. Liability

The Provider performs the Services with reasonable professional care. Owing to the non-custodial nature, the Provider is not liable for losses arising from the loss, theft or disclosure of your seed phrase, private key, PIN or device; safeguarding these is solely your responsibility.

To the maximum extent permitted by law, the Provider is not liable for indirect, incidental, special or consequential damages. Liability for damages caused by the Provider's intent or gross negligence is not excluded. The allocation and limitation of liability are subject to applicable law.

15. Governing law and jurisdiction

This Agreement is governed by and construed in accordance with the laws of the Republic of Azerbaijan.

Disputes are subject to the competent courts of the Republic of Azerbaijan. The mandatory rights of the consumer are not thereby limited.

16. Controlling language

This Agreement is provided in Azerbaijani, English and Russian. In the event of any conflict or discrepancy between the language versions, the Azerbaijani version prevails and is deemed the legally controlling text.

17. Peer-to-peer transfers

The Services include peer-to-peer (P2P) transfers of AZNS to other Baysart users by username (Baysart ID). Such transfers are executed on the blockchain and are final and irreversible once broadcast to the network; the Provider cannot cancel or reverse them.

It is solely your responsibility to verify the identity of the recipient (the username / Baysart ID) before confirming a transfer. Funds sent to the wrong recipient may not be recoverable.

P2P transfers are subject to the AML/KYC Policy and to the applicable transaction limits (caps); a transfer may be delayed, restricted or refused for compliance reasons.