ADEF Product Terms

1. Important Notice

These Product Terms govern ADEF, an Assetiko-issued tracker token designed to reference a published S&P Aerospace & Defense Select Industry reference methodology through Assetiko's on-chain tracker framework.

By accessing, purchasing, selling, holding, transferring, trading, providing liquidity for, creating a trust line for, or otherwise interacting with ADEF, each user, holder, buyer, seller, transferee, liquidity provider, market participant, wallet operator, bot operator, market maker, or other participant acknowledges and agrees to these Product Terms.

Any person who does not agree to these Product Terms must not access, purchase, sell, hold, transfer, trade, provide liquidity for, or otherwise interact with ADEF.

These Product Terms are separate from, and must be read together with, Assetiko's general terms, general risk disclosures, Index Trackers Product Terms, Index Trackers Risk Disclosure, ADEF methodology statement, ADEF pricing source notice, legal notices, restricted records, and any other documents published or made available by Assetiko.

2. Product Identity

Token: ADEF

Display Name: Assetiko Defense Tracker

Product Category: Assetiko Index Tracker

Primary Supported Pair: ADEF / USDV

Supported Settlement Reference: USDV, issued under the Valtorum USD framework at valtorum.com

Reference Methodology: S&P Aerospace & Defense Select Industry reference methodology, as published or updated by Assetiko

Distribution Treatment: Price-return reference unless separately changed

Issuer: Assetiko-designated XRPL issuer account

Network: XRP Ledger, unless otherwise stated by Assetiko

ADEF is an Assetiko tracker token designed for US-listed aerospace and defense equity reference exposure. It is not an ETF, not a mutual fund, not an index fund, not a collective investment scheme, not a fund unit, not a share in any company, not a debt instrument, not a deposit, not a bank product, and not direct ownership of any index constituent or underlying security.

3. Nature of ADEF

ADEF is designed to reference US-listed aerospace and defense equity exposure through a tokenized tracker framework.

ADEF does not provide holders with:

Ownership of any index constituent
Ownership of any shares or securities
Voting rights
Shareholder rights
Dividend rights
Fund rights
ETF rights
Redemption rights against any index provider
Claims against any index constituent
Claims against any market data provider
Guaranteed redemption at any stated value
Guaranteed liquidity
Guaranteed tracking accuracy
Guaranteed price stability

All rights, if any, are limited strictly to the rights expressly stated in these Product Terms or any ADEF-specific written supplement issued by Assetiko.

4. Binding Hierarchy

If there is any inconsistency between Assetiko materials relating to ADEF, the following order of priority applies:

ADEF-specific product supplement, if any
These ADEF Product Terms
ADEF methodology statement
ADEF pricing source notice
Assetiko Index Trackers Product Terms
Assetiko Index Trackers Risk Disclosure
Assetiko general terms and risk disclosures
ADEF product page summaries
Website displays, charts, token icons, metadata, FAQs, interface labels, wallet descriptions, social posts, informal communications, and third-party displays

Public summaries, charts, dashboards, token metadata, and wallet labels do not amend or override these Product Terms.

5. Prime Pairing With USDV

ADEF is designed to support USDV as its prime quoted and supported pair.

For Assetiko purposes, the primary supported pair is:

ADEF / USDV

USDV refers to Valtorum USD, with public information available at valtorum.com.

Assetiko may display ADEF reference values, indicative values, trading examples, liquidity references, pool references, or pricing information in USDV. Any such display is for informational and product framework purposes only and does not guarantee execution, liquidity, redemption, or price stability.

6. No Responsibility for Non-USDV Pricing

Assetiko does not accept responsibility for ADEF pricing, liquidity, execution, market behavior, price display, slippage, premiums, discounts, conversion values, implied values, or arbitrage outcomes in any pair other than ADEF / USDV.

This includes, without limitation, ADEF traded against:

XRP
RLUSD
USDC
USDT
EUR stablecoins
BTC
ETH
Other issued currencies
Other tracker tokens
Private market tokens
Any unsupported asset, currency, token, or pool

Any ADEF price shown outside the supported ADEF / USDV pair may be incomplete, misleading, manipulated, illiquid, stale, experimental, unofficial, or unrelated to Assetiko's official reference framework.

Users who trade ADEF outside the ADEF / USDV pair do so entirely at their own risk.

7. Non-USDV Pair Warning

Assetiko may not monitor, support, verify, maintain, stabilize, correct, or intervene in non-USDV ADEF pairs unless it chooses to do so in its sole discretion.

Non-USDV pairs may suffer from:

Low liquidity
Thin order books
Artificial pricing
Manipulation
Wash trading
Spoofing
Circular trading
Pool imbalance
Price distortion
Pathfinding errors
False implied valuation
Extreme slippage
Misleading chart data
Unsuitable conversion routes
Unauthorized market making
Unsupported liquidity pools

Users must not rely on non-USDV ADEF pairs as official, supported, reliable, or Assetiko-approved markets.

8. Official Reference Value

Assetiko may publish an official ADEF reference value.

The official reference value may be based on the ADEF methodology, approved pricing source hierarchy, scaling ratio, reference index level, data source, calculation timing, and any other rules determined by Assetiko.

The official reference value is not a guarantee that ADEF can be bought, sold, redeemed, transferred, or traded at that value.

Assetiko may update, delay, correct, restate, suspend, or discontinue publication of the official reference value at any time.

9. Indicative Market Value

Assetiko may display an indicative ADEF market value.

An indicative value may be derived from public data, third-party data, delayed data, proxy data, internal calculations, estimated index movement, or other sources Assetiko considers appropriate.

Indicative values are not official execution prices, redemption values, guaranteed values, fair value determinations, or investment recommendations.

Indicative values may differ from the official reference value and from on-chain ADEF market prices.

10. On-Chain Market Price

ADEF may trade on-chain through order books, AMMs, liquidity pools, peer-to-peer transfers, or other mechanisms.

The on-chain market price is determined by supply, demand, liquidity, spreads, slippage, pathfinding, market maker activity, user activity, pool depth, network conditions, and other market factors.

The on-chain market price may differ materially from the official reference value, indicative market value, or Assetiko's intended reference framework.

Assetiko has no obligation to maintain or defend ADEF market price.

11. No Guaranteed Tracking

Assetiko does not guarantee that ADEF will perfectly track, replicate, mirror, or maintain parity with any reference index, benchmark, methodology, market, official value, indicative value, or USDV pair.

Tracking differences may arise from:

Market volatility
Data delay
Pricing source limitations
Calculation timing
Scaling ratio
Currency treatment
Liquidity
AMM behavior
DEX mechanics
Market maker activity
Spreads
Slippage
Blockchain conditions
Suspicious activity
Unsupported pairs
Regulatory restrictions
Issuer controls
Disruption events
Product modification
Assetiko discretion

Users accept all risk of tracking difference.

12. USDV Dependency and Third-Party Risk

ADEF's prime pairing with USDV does not mean that Assetiko guarantees USDV, controls USDV, redeems USDV, stabilizes USDV, underwrites USDV, or accepts liability for USDV.

USDV is associated with the Valtorum USD framework. Users must review USDV's own terms, risks, issuer details, liquidity, trust line settings, legal status, and public information at valtorum.com.

Assetiko is not responsible for:

USDV issuer risk
USDV liquidity
USDV price stability
USDV depeg risk
USDV transfer restrictions
USDV freeze or clawback features
USDV operational failures
USDV regulatory status
USDV smart contract, ledger, or issuer settings
USDV market maker activity
USDV redemption or non-redemption
USDV-related losses

Using ADEF with USDV involves risks relating to both ADEF and USDV.

13. Unsupported Market Activity

Assetiko may consider the following to be unsupported, suspicious, abusive, manipulative, or harmful market activity:

Creating misleading non-USDV ADEF pools
Using illiquid non-USDV pairs to imply false ADEF pricing
Wash trading ADEF
Spoofing ADEF order books
Circular trading
Manipulating ADEF charts
Creating false reference prices
Creating pools designed to mislead users
Using ADEF to manipulate another token
Using another token to manipulate ADEF
Routing trades through unsupported pairs to distort displayed prices
Coordinated trading designed to create artificial prices
Bot activity designed to exploit low-liquidity ADEF pairs
Attempted price manipulation against non-USDV pairs
Suspicious transfers involving prohibited wallets
Sanctions, fraud, theft, or unlawful use
Activity that may harm Assetiko, ADEF holders, market integrity, or the Assetiko brand

Assetiko may determine suspicious activity in its sole discretion.

14. Freeze Rights

Assetiko or the relevant issuer may freeze, deep freeze, restrict, block, investigate, or otherwise limit ADEF trust lines, balances, transfers, or market activity where it determines that such action is appropriate.

This may include circumstances involving:

Suspicious activity
Manipulation
Abusive trading
Unsupported non-USDV pairs
False pricing
Market distortion
Fraud
Theft
Sanctions risk
Legal risk
Regulatory risk
Court order
Law enforcement request
User eligibility concerns
Misuse of ADEF
Technical risk
Operational risk
Protection of Assetiko
Protection of market integrity
Protection of users
Investigation of any suspected breach of these Product Terms

Assetiko may freeze ADEF in relation to one or more accounts, trust lines, pools, transfers, or other activity if technically available and legally or operationally appropriate.

15. Investigation and Release

If Assetiko freezes or restricts ADEF due to suspicious activity, manipulation, unsupported pair activity, legal concern, regulatory concern, or any other issue, Assetiko may maintain the freeze or restriction until it completes its investigation to its satisfaction.

Release from freeze or restriction may require:

Completion of Assetiko's internal review
User identification
Wallet ownership proof
Transaction explanation
Source of funds review
Sanctions screening
Market activity review
Legal review
Compliance approval
Confirmation that the activity has ceased
Any other information or action requested by Assetiko

Assetiko is not required to release ADEF until it is satisfied, in its sole discretion, that release is appropriate.

Assetiko may refuse release where it determines that legal, regulatory, operational, technical, reputational, or market integrity concerns remain.

16. No Liability for Freeze or Investigation

To the maximum extent permitted by law, Assetiko is not liable for losses arising from any freeze, deep freeze, restriction, investigation, delay, refusal to release, market suspension, pool disruption, liquidity impact, missed trading opportunity, price movement, or inability to transfer ADEF.

Users acknowledge that issuer controls may be used to protect Assetiko, ADEF, market integrity, compliance objectives, or other users.

A decision not to freeze or intervene in one case does not create a duty to act in another case.

A decision to release one account does not create a duty to release any other account.

17. Clawback and Recovery Rights

Where clawback or similar issuer controls are enabled, Assetiko or the relevant issuer may claw back, recover, reverse, or reclaim ADEF where it determines such action is appropriate and technically available.

Clawback may be used for:

Fraud
Theft
Error correction
Sanctions compliance
Court orders
Regulatory requests
Unauthorized issuance
Unauthorized transfers
Restricted person activity
Breach of Product Terms
Market manipulation
Suspicious non-USDV pair activity
Product migration
Product termination
Any other reason Assetiko considers appropriate

Assetiko is not obligated to claw back ADEF in any particular case.

18. Market Integrity Controls

Assetiko may take any action it considers necessary or desirable to preserve ADEF market integrity.

Such actions may include:

Freezing accounts
Deep freezing trust lines
Refusing support
Publishing warnings
Suspending product displays
Removing unsupported market references
Updating metadata
Updating methodology
Excluding certain pairs from official displays
Not recognizing non-USDV prices
Refusing to treat certain transactions as valid for Assetiko purposes
Reporting suspicious activity
Requesting information
Restricting access
Coordinating with wallets, explorers, exchanges, data providers, or service providers
Modifying product terms
Suspending or terminating ADEF

Assetiko may exercise these rights without prior notice.

19. Supported Display Currency

Assetiko may display ADEF values primarily in USDV or USDV-equivalent terms.

Any display in other currencies, if shown, is informational only and may be based on third-party or estimated conversion data.

Assetiko does not guarantee the accuracy, availability, or suitability of any non-USDV conversion.

Users are responsible for their own currency conversions and trading decisions.

20. User Responsibility for Pair Selection

Users are responsible for selecting the correct trading pair.

Before trading ADEF, users must verify:

Correct ADEF issuer
Correct currency code
Correct trust line
Correct trading pair
Correct USDV issuer
Correct order book or AMM pool
Expected output
Slippage
Price impact
Transfer settings
Pathfinding route
Network fees
Wallet permissions

Assetiko is not responsible for user error, wrong-pair trading, fake pools, unsupported pairs, or misleading third-party interfaces.

21. Liquidity Provider Warning

Providing liquidity to ADEF pools carries additional risk.

Liquidity providers may suffer:

Impermanent loss
Pool imbalance
Slippage exposure
Arbitrage loss
Thin liquidity risk
Unsupported pair risk
Pricing distortion
Freeze risk
Investigation risk
Non-USDV pair risk
Incorrect pool selection
AMM fee uncertainty
Market manipulation exposure

Assetiko does not guarantee returns to liquidity providers.

Assetiko may not support, recognize, or protect liquidity provided to non-USDV ADEF pools.

22. Unauthorized Pools

Any person may be able to create a pool, order book, path, or trading route involving ADEF depending on network mechanics and token settings.

The existence of a pool does not mean Assetiko approves it.

The existence of liquidity does not mean Assetiko supports it.

The existence of a price does not mean Assetiko recognizes it.

Only the ADEF / USDV pair is the prime supported pair unless Assetiko expressly identifies another pair as supported in formal documentation.

23. Product Modification

Assetiko may modify ADEF at any time where it determines that modification is appropriate.

Modifications may include changes to:

Name
Ticker display
Description
Icon
Metadata
Methodology
Scaling ratio
Pricing source
Supported pair policy
USDV treatment
Issuer settings
Freeze policy
Transfer restrictions
Risk disclosures
Product page
Search metadata
Chart display
Legal terms
Supported markets
Product status

Unless required by applicable law, Assetiko is not required to obtain holder consent before modifying ADEF.

24. Product Suspension

Assetiko may suspend ADEF calculation, display, issuance, support, transfers, market support, liquidity support, or other activity where it determines that suspension is appropriate.

Suspension may occur due to:

Data failure
Market disruption
Legal concern
Regulatory concern
Suspicious activity
Non-USDV manipulation
USDV disruption
Blockchain issue
Liquidity issue
Cybersecurity issue
Issuer control issue
Product migration
Product termination review
Operational failure
Any other reason Assetiko considers relevant

25. Product Termination

Assetiko may terminate, wind down, archive, migrate, replace, or discontinue ADEF if it determines that continuation is impractical, uneconomic, unlawful, unsupported, risky, technically difficult, commercially undesirable, or otherwise unsuitable.

No holder is guaranteed compensation, redemption, replacement, liquidity, or continued support unless expressly stated in a written ADEF-specific supplement.

26. No Redemption Unless Expressly Stated

ADEF is not redeemable for cash, USDV, XRP, securities, index components, underlying assets, stablecoins, or any other asset unless Assetiko expressly states otherwise in a written ADEF-specific document.

Users should not assume any redemption right.

A supported trading pair is not the same as a redemption right.

27. Fees and Costs

ADEF activity may involve fees and costs, including:

XRPL transaction fees
AMM fees
DEX spreads
Slippage
Market maker spreads
Transfer fees, if configured
Network costs
Wallet fees
Third-party platform fees
Conversion costs
Liquidity costs

Users are responsible for all fees and costs associated with their transactions.

28. User Representations

By interacting with ADEF, each user represents and warrants that:

They understand ADEF is a tracker product
They understand ADEF is not an ETF, fund, share, or security ownership interest
They understand USDV is the prime supported pairing
They understand Assetiko is not responsible for non-USDV pricing
They understand unsupported pairs may be frozen or investigated if suspicious
They are not engaging in manipulation or suspicious activity
They are legally permitted to interact with ADEF
They are not a prohibited or sanctioned person
They are not using ADEF for unlawful activity
They can bear the risk of loss
They are not relying on Assetiko for investment, legal, tax, or financial advice
They have reviewed relevant risk disclosures
They accept issuer control, freeze, investigation, and product modification risks

29. User Covenants

Each user agrees not to:

Manipulate ADEF pricing
Manipulate non-USDV ADEF pairs
Create misleading ADEF pools
Use ADEF to distort other asset prices
Use other assets to distort ADEF prices
Engage in wash trading
Engage in spoofing
Engage in fraudulent or deceptive trading
Misrepresent ADEF pricing
Promote unsupported ADEF pairs as official
Create fake ADEF markets
Use ADEF for unlawful purposes
Evade compliance controls
Interfere with Assetiko systems
Mislead users about ADEF rights
Claim ownership rights not expressly granted by Assetiko

30. Assetiko Discretion

Assetiko may interpret, apply, modify, suspend, enforce, or waive these Product Terms in its sole and absolute discretion to the maximum extent permitted by law.

Assetiko's determinations regarding suspicious activity, manipulation, supported pairs, pricing recognition, market integrity, freeze, investigation, release, product status, or user eligibility are final and binding unless otherwise required by law.

31. Limitation of Liability

To the maximum extent permitted by applicable law, Assetiko, its affiliates, issuers, officers, directors, employees, contractors, agents, developers, service providers, liquidity providers, market makers, data providers, and representatives shall not be liable for any loss arising from or relating to ADEF.

This includes losses arising from:

Market movement
Tracking difference
USDV risk
Non-USDV pair trading
Price manipulation by others
Unsupported pools
Liquidity loss
Slippage
AMM activity
DEX routing
Freeze
Investigation
Delayed release
Clawback
Product modification
Product suspension
Product termination
Incorrect third-party displays
User error
Wrong issuer selection
Wrong pair selection
Wallet compromise
Data error
Network issue
Regulatory action
Any use of or reliance on ADEF information

32. Indemnity

Each user agrees to indemnify and hold harmless Assetiko and its affiliates, issuers, officers, directors, employees, contractors, agents, developers, service providers, liquidity providers, market makers, and representatives from any claim, loss, liability, cost, penalty, investigation, proceeding, or expense arising from:

The user's ADEF activity
Breach of these Product Terms
Manipulation or suspicious activity
Unsupported pair activity
Non-USDV pool creation
Misrepresentation of ADEF pricing
Violation of law
Sanctions breach
Wallet compromise caused by user action
Wrong-pair trading
Misuse of Assetiko information
Any claim by another person arising from the user's activity

33. Amendments

Assetiko may amend these Product Terms at any time.

Amendments may be made by publishing updated terms on Assetiko's website, updating ADEF product documentation, changing product metadata, issuing a notice, or any other method Assetiko considers appropriate.

Continued holding, trading, transferring, liquidity provision, or interaction with ADEF after an update constitutes acceptance of the updated terms.

34. Final Acknowledgment

By interacting with ADEF, each user acknowledges that:

ADEF is high risk
ADEF is a tracker token and not an ETF, fund, share, or direct ownership product
USDV is the prime supported pair
Assetiko is not responsible for non-USDV pricing
Unsupported pairs may be misleading or manipulated
Suspicious activity may result in freeze or investigation
Release may occur only after Assetiko is satisfied
Tracking is not guaranteed
Liquidity is not guaranteed
Redemption is not guaranteed
Product terms may change
Assetiko has broad discretion
The user may lose some or all value
The user is solely responsible for their own decisions, compliance, wallet security, tax treatment, and risk assessment

Users who do not fully understand or accept these Product Terms should not interact with ADEF.