Last Updated: 30 July 2024

TRILLION SERVICES RISK DISCLOSURE STATEMENT

RISK DISCLOSURES
1. Trillion (“we”, “us”, our”) is not currently licensed by any regulatory authority.
2. This Risk Disclosure Statement provides you with information about some of the risks associated with the issuance and/or redemption of Trillion Stablecoins, and the use of other products and/or services provided by Trillion. The information presented in this Risk Disclosure Statement is not comprehensive and does not reflect all the risks (or other important factors) you should consider before using the Services. It is your sole responsibility to ensure that you understand all the relevant risks associated with Trillion Stablecoins. Under no circumstances shall any of the Indemnified Persons be responsible or liable to you or any other person or entity for any direct, indirect, special or consequential losses (including loss of profits, business or opportunities), damages or costs by reason of, or arising from, or as a consequence of, your use or reliance on any of the information set out in this Risk Disclosure Statement.
3. Capitalised terms in this Risk Disclosure Statement shall have the same meanings given to them in the Trillion User Agreement, unless otherwise defined herein or where the context requires otherwise.
RISKS RELATED TO COMMUNICATIONS WITH US
1. In the course of your communications with us, we may provide you with information or explanations in relation to our Services. You agree and understand that you are acting for your own account, and you make your own judgment in all circumstances and not in reliance of any statements or representations by us, expressly or otherwise. If we make any suggestions or provide any information, explanations or express any views, these are purely for information purposes only and you acknowledge that we do not assume any responsibility for any decision you make in relation to our Services and you should not rely on or consider any such suggestions, information, explanations or views expressed as financial or investment advice, or a recommendation to deal with any digital asset. If you have any doubts about the risks involved in any transaction, you should seek independent legal, financial, investment, accounting, tax, and other professional advice.
RISKS RELATED TO COMMUNICATION SERVICES
1. We are entitled (but not obliged) to verify and be satisfied with respect to the identity of the person purporting to communicate, give Instructions, requests. However, there is a risk that you may suffer losses arising from or in connection with (a) us accepting and acting on any Instructions, requests or orders over any channel, platform or communication service which appears to us to be from you and which turns out to have been errorneous, forged, fraudulent or unauthorised and/or (b) any miscommunication, breakdown in communication, delay, forgery, mutilation, conflict, or duplication in connection with the transmission of any Instructions, requests or orders to us.
LEGAL AND REGULATORY RISKS
1. Government regulation of digital tokens, including stablecoins, is unsettled and rapidly evolving. New laws, regulations and guidelines may be promulgated in the future that apply to blockchain technology, digital assets and related service providers, and no assurance can be given that any such changes will not adversely affect our Services.
2. For illustrative purposes only, regulatory actions could include a determination (with retrospective or prospective effect) that stablecoins are to constitute regulated financial and/or payment instruments requiring registration or licensing in certain jurisdictions. Trillion may have to suspend or limit the minting, issuance and/or redemption of Trillion Stablecoins or disallow certain users to utilize our Services based on their citizenship, residence or location if doing so would be commercially unsustainable or prohibited by any such regulatory actions.
3. Trillion Stablecoins are not considered legal tender and are not backed by any central bank or government. Trillion Stablecoins are not subject to any government-backed deposit insurance or any other government protections. There is no central bank or government regulator that can take corrective measures to protect the value of Trillion Stablecoins in a crisis, or manage the demand or supply of Trillion Stablecoins.
4. Trillion has sole and absolute discretion to suspend our Services or reject the execution of any of your Instructions, where any such action or inaction is, in the sole opinion of Trillion, required or desirable to facilitate Trillion’s compliance with Applicable Laws, or any order, directive or request from law enforcement or other governmental or regulatory authorities.
CURRENCY EXPOSURE RISK
1. As fiat-pegged stablecoins, Trillion Stablecoins may be affected by fluctuations in the value of the pegged fiat currency. If the underlying fiat currency experiences significant devaluation or volatility due to factors such as economic instability, inflation or geopolitical events, the stablecoin’s value may be impacted accordingly. Where the fiat reserves are held in multiple currencies, as the case may be, the stablecoin may be exposed to exchange rate risks between these currencies.
2. You acknowledge that Trillion has no control over and assumes no responsibility for any risks associated with fluctuations in the value of the pegged fiat currency.
BANKING RISK
1. The security and solvency of financial institutions where the fiat reserves are held for Trillion may impact the stability and value of Trillion Stablecoins. In the event of a collapse or severe financial difficulties by these banks or such other financial institutions, there is a risk that the reserves might become inaccessible or diminished in value. This could adversely affect Trillion’s ability to maintain the stablecoin’s pegged value and fulfil redemption requests.
2. You acknowledge that Trillion has no control over and assumes no responsibility for any risks associated with such banking or counterparty risks.
DEPEG RISK
1. Trillion Stablecoins may face the risk of depegging where the value of the stablecoin deviates from its pegged value (i.e. the respective fiat currency). This risk may arise from several factors, including market volatility, collateral or liquidity issues, impairment of the reserves backing the stablecoins, legal and regulatory restrictions, loss in market confidence, financial market events, operational challenges, and technical or technological issues such as security attacks or network congestion.
2. Under no circumstances shall any of the Indemnified Persons be responsible or liable to you or any other person or entity for any Losses by reason of, or arising from, or as a consequence of, any risks associated with the depegging of Trillion Stablecoins.
DIGITAL ASSET SECURITY RISKS
1. Any digital asset may be vulnerable to attacks on its security, integrity or operations ("Attacks"), including Attacks using computing power sufficient to overwhelm the normal operation of a blockchain. Trillion makes no representation, warranty or undertaking of any kind, express or implied, statutory or otherwise, regarding any blockchain functionality nor for any breach of security in the blockchain functionality. You acknowledge and accept the risk of any breach of security of any digital asset and any losses you may experience as a result.
CYBERSECURITY RISKS
1. There are various risks associated with utilising an Internet-based platform including, but not limited to, the failure of hardware, software, and Internet connections, the risk of malicious software introduction, the risk that third parties may obtain unauthorised access to information and/or assets, cyber-attack, failure of blockchain or other networks, computer viruses, communication failures, disruptions, errors, distortions or delays you may experience when giving Instructions, howsoever caused, spyware, scareware, Trojan horses, worms or other malware that may affect your computer or other equipment, or any phishing, spoofing or other attack.
2. You acknowledge and accept that Trillion does not control Internet signal power, its reception or routing, configuration of your equipment or its reliability, and that Trillion shall not be responsible for any communication failures, disruptions, errors, distortions or delays you may experience when transacting via the platform, however caused.
PLATFORM'S OPERATIONAL RISKS
1. Any technological difficulties experienced by Trillion could prevent your access or use of the platform. You may be prevented from sending an Instruction, transaction request or email, or your Instruction, transaction request or email may not be received by Trillion, due to hardware, software or services issues (including, without limitation, Internet and other network connectivity issues).
2. Your Instruction, transaction request or email to Trillion may be lost, intercepted or altered during transmission.
3. Trillion may, from time to time, perform maintenance on the platform, whether routine or otherwise. This may lead to platform downtime and your inability to access the platform, potentially resulting in a delay or cancellation of any Instruction.
UNAUTHORISED INSTRUCTIONS AND ERRONEOUS TRANSMISSION
1. Unauthorised third parties may access or use your accounts and give Trillion any Instructions without your knowledge or authorisation, whether by obtaining the password to your accounts, obtaining control over another device or account used by you in connection with any enhanced security measures enabled for your accounts, erroneously, fraudulently, or otherwise. Trillion will not be liable to you for any losses resulting from any of these kinds of unauthorised access.
2. Any Trillion Stablecoin may be lost forever if sent to the wrong address (including if the address is improperly formatted, contains errors, or is intended to be used for a different type of digital asset). You further acknowledge and agree that (i) Trillion does not guarantee the recovery of Trillion Stablecoins sent to incorrect addresses; (ii) Trillion is not obligated to assist with any form of digital asset or fiat recovery; and (iii) any assistance rendered by Trillion to assist with recovery shall be considered by Trillion on a case-by-case basis and at its sole and absolute discretion. Additional fees and recovery charges may also apply for recovery attempts by Trillion. You acknowledge and agree that in the event that Trillion agrees to attempt recovery for you or otherwise provide you with assistance with the recovery, you shall be fully responsible for any and all costs, fees and other charges arising from such recovery and shall fully indemnify the Indemnified Parties from and against any and all Losses which the Indemnified Persons may incur, suffer or which may be made against any of them in connection with such recovery.
THIRD-PARTY RISKS
1. There is no assurance that any person or business who currently accepts Trillion Stablecoins as payment, as the case may be, will continue to do so in the future.
2. Trillion has no control over, and assumes no liability for, the delivery, safety, legality, or any other aspect of any Trillion Stablecoins that you may receive from or transfer to, any third party, nor the services of any third party (including any third-party custodian). If you experience any problem with any Trillion Stablecoin received from any third party or the services of any third-party custodian, or if you have a dispute with such third party, you should resolve the dispute directly with that third party.
ERROR CORRECTION
1. You acknowledge and agree that Trillion may refuse the minting, redemption or issuance of any stablecoin, or refuse to carry out your Instructions even after confirmation has been given to you, in each case to correct any errors, including but not limited to technical errors in Trillion’s platform.
JURISDICTION RISK
1. Persons or entities with a relevant nexus with certain jurisdictions may be prohibited from utilizing our Services. Changes in your tax residency, domicile or Applicable Laws may result in your violation of any regulatory or legal restrictions. You are solely responsible for ensuring that your use of our Services and the opening and maintaining of your Account remain lawful at all times.
TAX RISK
1. The issuance, holding or redemption of any stablecoin may be subject to taxes, duties or similar charges being imposed by any applicable taxing authority (e.g. income tax, goods and services or value added taxes, stamp duties, withholding taxes, etc.). You should consult your own independent tax advisor as to any potential implications before utilizing our Services. It is your sole responsibility to determine what, if any, taxes apply to the payments you make or receive, and to collect, report, and remit the correct tax to the appropriate tax authority.
OTHER RELATED DOCUMENTS
1. Trillion may furnish you with documents, materials and/or other information as we may think relevant from time to time, whether issued by us or third parties. The provision of such documents, materials and/or other information shall not be considered as the provision of any investment, financial or trading advice or recommendation. You agree and acknowledge that we make no warranties and take no responsibility or liability for the accuracy and completeness of such documents, materials and/or information as may be provided to you.
MISCELLANEOUS
1. The abovementioned is not an exhaustive list, there may be additional risks that Trillion has not foreseen or identified in this Risk Disclosure Statement. Under no circumstances shall any of the Indemnified Persons be responsible or liable to you or any other person or entity for any Losses by reason of, or arising from, or as a consequence of, any risks associated with our Services or Trillion Stablecoins, whether or not such risks are foreseen or identified in this Risk Disclosure Statement.
2. The information provided in this Risk Disclosure Statement is not a substitute for any professional advice. None of the information provided in this Risk Disclosure Statement constitutes a recommendation that any Trillion Stablecoin is suitable for any person. You further acknowledge and agree that this Risk Disclosure Statement is neither an offer nor a solicitation to deal in any Trillion Stablecoin, and you are not relying on any investment, financial, trading advice or recommendation, or any other type of advice or recommendation (whether written or oral) of Trillion.
3. By proceeding to utilize our Services, you hereby acknowledge and confirm that you and/or your representatives (i) have carefully read the above Risk Disclosure Statement; (ii) have fully analysed, understood and appreciated the risks associated with transacting in or otherwise engaging in our Services, Trillion Stablecoins, and any other products or services offered by Trillion; (iii) have sought and obtained all professional advice (including tax, legal, financial, investment, accounting and other professional advice) as may be relevant and/or necessary; and (iv) are authorised and permitted, under all Applicable Laws, to enter into such transactions.