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20. How are my notes held?

You can hold notes in a self-custody wallet, where you’re responsible for your own keys. If you hold through a Qualifying Exchange Partner, your position may instead be recorded on that partner’s books, usually in a shared wallet with other customers, rather than in your own wallet onchain. Delivery to the partner’s wallet counts as delivery to you under the Token Terms.

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21. Can the Issuer freeze, pause, or change my notes?

Yes, in accordance with the Issuer’s stated compliance responsibilities. The Issuer maintains administrative control over the Note smart contract. The Issuer can pause transfers or claims, freeze or claw back tokens linked to sanctioned or prohibited wallets, and mint, burn, or migrate tokens to fix errors or respond to an exploit.

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22. Do holders get a vote on changes to the terms?

You’ll get notice of proposed changes. For most administrative changes, you can object within a notice period, and silence counts as consent. Changes to fundamental terms, such as the payout formula, pricing method, settlement currency, term, or transfer restrictions, need approval from a supermajority of noteholders.

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23. Can I transfer my notes?

Yes. Notes can be permissionlessly transferred P2P onchain to other eligible non-U.S. holders, subject to transfer restrictions and other jurisdictional restrictions.Transferring a note doesn’t transfer the right to be paid. The new holder must qualify and submit their own claim.