PRELIMINARY PROVISIONS

These Terms and Conditions of Use of the DEX Platform govern access to, registration on, navigation of, use of, and continued presence on the technology platform called DEX, establishing the rights, obligations, responsibilities, and conditions applicable to Users, Participants, and other individuals or legal entities that directly or indirectly use the services, functionalities, systems, and resources made available through the DEX ecosystem.

DEX constitutes a private technology infrastructure developed by Ether, intended to provide technology solutions for operational integration, digital asset management, tokenization, blockchain, interoperability between systems, settlement of operations, and other related functionalities, subject to the conditions set forth in these Terms, the applicable contractual instruments, and current legislation.

The DEX Platform is part of a private technology ecosystem made up of companies, strategic partners, developers, service providers, Users, Participants, and other authorized agents, whose activities are guided by principles of innovation, governance, information security, interoperability, transparency, compliance, prevention of money laundering, personal data protection, and sustainable development of the technology environment.

These Terms form part of the set of legal and operational instruments that regulate the operation of the DEX Platform and must be interpreted together with the contracts entered into between the parties, the DEX Participant Manual, the Privacy Policy, institutional policies, technical standards, operating procedures, official communications, and other documents published by Ether or the Association, in accordance with the document hierarchy set forth in these Terms.

These Terms are intended to ensure the secure, sound, transparent, and efficient use of the DEX Platform, establishing the general rules for use of the ecosystem, the rights and duties of its Users and Participants, and the governance mechanisms necessary for the proper functioning of the technology infrastructure made available.

Use of the DEX Platform must comply with the laws of the Federative Republic of Brazil, in particular the Civil Code, the Brazilian Internet Civil Rights Framework Law (Law No. 12,965/2014), the General Personal Data Protection Law – LGPD (Law No. 13,709/2018), legislation on the prevention of money laundering and terrorist financing, and other legal and regulatory standards applicable to activities carried out within the DEX ecosystem.

The DEX Platform shall be governed by the principles of objective good faith, transparency, legal certainty, cooperation, responsible innovation, integrity, personal data protection, information security, free enterprise, interoperability, fraud prevention, and respect for current legislation, and all Users and Participants undertake to observe such principles throughout their use of the Platform.

DEFINITIONS

For purposes of these Terms and Conditions of Use, the terms below, when capitalized, shall have the meanings assigned to them in this Chapter, regardless of whether they are used in the singular or plural:

Association: the DEX Association of Blockchain Entrepreneurs, a private, non-profit entity responsible for the institutional governance of the DEX Ecosystem, and for promoting best practices, technology development, self-regulation, interoperability, training, innovation, and strengthening of the blockchain sector, subject to the provisions of its Bylaws.

API (Application Programming Interface): the set of routines, protocols, standards, and interfaces made available by the DEX Platform to enable secure integration between proprietary or third-party systems, subject to the Participant Manual and current technical standards.

Digital Assets: the digital representation of assets, rights, values, utilities, credits, tokens, or any other property capable of being registered, transferred, or represented by electronic means.

Blockchain: distributed ledger technology (DLT), whether public or private, used to record, validate, store, or process information, digital assets, or transactions in a decentralized, immutable, or auditable manner.

BRT: a digital asset, token, stablecoin, or digital instrument made available within the DEX Ecosystem, the operational characteristics of which are defined in the applicable specific documents.

DEX Key: a unique identifier used to individualize Users, Participants, accounts, digital wallets, integrations, or operations carried out within the DEX Platform, in accordance with the technical standards defined by Ether.

Compliance: the set of policies, procedures, internal controls, governance standards, and mechanisms intended to ensure compliance with applicable legislation, regulatory standards, Ether's internal policies, and the rules of the DEX Ecosystem.

DEX Ecosystem: the institutional, technological, and operational environment made up of the DEX Platform, Ether, the Association, Participants, Users, strategic partners, APIs, technology integrations, institutional policies, technical standards, contracts, manuals, and other instruments necessary for the operation of the technology infrastructure.

Ether: the company or group of companies belonging to the Ether Group responsible for the development, administration, operation, provision, and evolution of the DEX Platform, as the context of these Terms requires.

KYC (Know Your Customer): the set of procedures intended for the identification, qualification, and registration validation of individuals, in accordance with applicable legislation and Compliance policies.

KYB (Know Your Business): procedures intended for the identification, validation, and registration analysis of legal entities and their corporate structure.

KYT (Know Your Transaction): the set of monitoring, tracking, and analysis procedures applied to transactions and financial or digital asset movements, intended to prevent fraud, money laundering, terrorist financing, and other illicit activities.

Participant: a legal entity duly authorized to be part of the DEX Ecosystem by entering into the applicable contractual instrument, which may use the technology functionalities made available to offer products, services, or integrations to its own customers.

DEX Platform: the set of systems, software, applications, APIs, interfaces, administrative panels, web environments, mobile applications, technology infrastructure, and other digital resources made available by Ether for the operation of the DEX Ecosystem.

Privacy Policy: the document governing the processing of personal data carried out within the DEX Platform, in accordance with the General Personal Data Protection Law (Law No. 13,709/2018).

Services: the functionalities, resources, integrations, technology solutions, and other services made available by Ether through the DEX Platform, in accordance with the contracted modality.

Terms: these Terms and Conditions of Use of the DEX Platform, including their exhibits, supplementary policies, and future updates.

Tokenization: the process of digitally representing assets, rights, or utilities by means of tokens recorded on a blockchain or other distributed ledger technology.

User: any individual or legal entity that accesses, uses, browses, interacts with, or otherwise directly or indirectly makes use of the DEX Platform, regardless of the manner of access or the existence of a specific contractual relationship.

Wallet or Digital Wallet: an address, account, application, or technology solution intended for the storage, receipt, sending, or management of digital assets compatible with the DEX Platform.

Technical, operational, or legal terms not defined in this Chapter shall have the meaning assigned to them by applicable legislation, the DEX Participant Manual, Ether's technical standards, the DEX Ecosystem's documents, or the context in which they are used.

ACCEPTANCE OF TERMS

Access to, registration on, navigation of, use of, or continued presence on the DEX Platform, as well as use of any functionalities forming part of the DEX Ecosystem, entails the reading, understanding, and full, free, express, and unequivocal acceptance of these Terms and Conditions of Use, their exhibits, supplementary policies, and other documents forming the DEX Ecosystem's Regulatory Framework.

Acceptance of these Terms may occur through any electronic means made available by Ether, including, but not limited to, the selection of a specific acceptance field ("checkbox"), electronic signature, digital authentication, confirmation in an electronic environment, or any other technological mechanism capable of demonstrating the User's unequivocal manifestation of will, producing all legal effects provided for in applicable legislation.

By accepting these Terms, the User represents and warrants that they have the legal capacity and sufficient powers to enter into this instrument or, in the case of a legal entity, have the powers of representation required to bind it; that they have fully read these Terms and understood their content, scope, and legal effects; that they undertake to fully observe the provisions of these Terms, the DEX Participant Manual, where applicable, institutional policies, technical standards, and other documents forming part of the DEX Ecosystem's Regulatory Framework; that they will use the DEX Platform exclusively for lawful purposes and in accordance with applicable legislation; and that they acknowledge that use of the Platform may be conditioned on compliance with identification, registration validation, compliance, information security, and other operational requirements established by Ether or the Association.

When acceptance of these Terms is carried out on behalf of a legal entity, the User represents that they have sufficient legal and corporate powers to represent it, and shall be liable for the accuracy of that representation and for the acts carried out in its name.

The User acknowledges that these Terms may be amended, updated, or supplemented by Ether whenever necessary due to legal, regulatory, technological, operational, or governance changes within the DEX Ecosystem.

Amendments will be disclosed through the DEX Platform's official channels and will take effect on the date indicated in their publication, and the User remains free to discontinue use of the Platform if they do not agree with the new conditions.

Continued use of the DEX Platform after the amendments take effect will be interpreted as acceptance of the updated version of these Terms.

The User acknowledges that acceptance of these Terms also entails being bound by the other documents forming part of the DEX Ecosystem's Regulatory Framework, to the extent applicable, including the DEX Participant Manual, the Privacy Policy, institutional policies, operating procedures, and regularly published technical standards, in accordance with the document hierarchy set forth in these Terms.

The User represents that they are aware that the DEX Platform is part of a private technology ecosystem subject to its own governance, self-regulation, and operating rules, and undertakes to observe the provisions of these Terms and the other instruments governing the organization and operation of the DEX Ecosystem.

NATURE OF THE PLATFORM

The DEX Ecosystem constitutes a private technology environment, developed and administered by Ether, intended to provide technology infrastructure, digital solutions, operational resources, and integration tools aimed at the development, processing, management, and interoperability of operations carried out by its Users and Participants.

The DEX Platform consists of the set of systems, applications, interfaces, APIs, administrative panels, and other technology resources that enable the operation of the DEX Ecosystem, subject to the conditions set forth in these Terms, the applicable contractual instruments, and internal governance standards.

The DEX Platform is exclusively technological and operational in nature, intended to provide digital infrastructure for the execution of functionalities, integrations, records, information processing, tokenization, blockchain operations, technological settlement, and other services compatible with its purpose.

Use of the Platform does not, by itself, imply the provision of financial, banking, investment, or securities intermediation services by Ether, except where expressly provided for in a specific contractual instrument or where such activities are carried out by institutions duly authorized by the competent regulatory bodies.

Except where expressly provided otherwise, Ether, through the DEX Platform, does not act in the capacity of a financial institution, payment institution, securities brokerage firm, securities distributor, stock exchange, virtual asset exchange, third-party wallet or asset manager, custodian of financial assets or securities, investment advisor, fund manager, securities issuer, or entity authorized to carry out restricted activities subject to specific authorization by regulatory bodies.

Where a given functionality depends on the involvement of an authorized institution, that activity will be carried out by a duly qualified partner, subject to the applicable contractual instrument.

Operations carried out within the DEX Ecosystem result from the interaction between Users, Participants, technology partners, financial institutions, payment institutions, issuers, settlement agents, blockchain networks, and other agents involved in each operation.

Ether provides the technology infrastructure necessary for the operation of the Platform, without assuming the position of a party to the legal relationships established between Users, participants, or third parties, except where expressly provided for in a specific contract.

The User acknowledges that the DEX Ecosystem constitutes a technology infrastructure in constant evolution. Accordingly, Ether may, at any time and subject to applicable legislation, develop new functionalities, alter existing resources, make new modules available, integrate new technologies, replace technology components, implement performance, security, or interoperability improvements, and discontinue functionalities whose maintenance becomes technically, operationally, commercially, or legally unfeasible.

Whenever such changes affect Users' rights or obligations, they will be notified as set forth in these Terms.

The operation of the DEX Platform may depend on the use of services, systems, or infrastructures operated by third parties, including, among others, blockchain networks, cloud computing providers, financial institutions, payment institutions, settlement agents, digital asset issuers, digital identity providers, authentication services, API providers, and information security service providers.

Ether does not guarantee the continuous availability or performance of such third-party services, nor will it be liable for failures, interruptions, delays, or unavailability exclusively attributable to them, without prejudice to the liabilities imposed on it by applicable legislation.

The provision of the DEX Platform does not constitute a public offering, an investment recommendation, a promise of profitability, financial advice, or a guarantee of economic return.

It is the User's sole responsibility to assess the risks inherent to the operations carried out through the Platform, as well as to verify their suitability under applicable legal and regulatory standards.

Ether may use, integrate, or replace, at its sole discretion, different distributed ledger technologies (DLT), blockchain networks, protocols, consensus mechanisms, tokenization solutions, cloud infrastructure, APIs, and other technology resources, provided that such changes do not compromise the essential purpose of the contracted services or reduce the levels of security, integrity, and functionality expected of the DEX Platform.

REGISTRATION ELIGIBILITY

Access to and use of the DEX Platform are restricted to individuals and legal entities that have the legal capacity to contract and that meet the eligibility, security, governance, and compliance requirements established by Ether and the DEX Ecosystem. Under no circumstances does Ether register, open accounts for, or provide its services to persons under 18 (eighteen) years of age, and access to the platform by such individuals is prohibited, regardless of any authorization, representation, or assistance by third parties.

Use of certain functionalities may be subject to additional requirements, depending on the User's category, the nature of the operation, the identified risk profile, or applicable legal and regulatory requirements.

To use the DEX Platform, the User must register through the official channels made available by Ether or by an authorized Participant, providing complete, true, accurate, up-to-date information consistent with their registration status.

The User represents that all information and documents submitted are authentic and undertakes to keep them permanently up to date, being fully liable for their accuracy.

Entry into, continued presence in, and use of the DEX Ecosystem are conditional on approval under the Compliance procedures adopted by Ether, the Association, and, where applicable, its operational partners.

Compliance procedures may include, among others, the identification and registration qualification of the User, Know Your Customer (KYC) procedures, Know Your Business (KYB) procedures, identification and validation of legal representatives, ultimate beneficial owners, and politically exposed persons (PEPs), where applicable, document review, biometric, documentary, or technological validation, searches against public and private databases, checks related to the prevention of money laundering, terrorist financing, financing of the proliferation of weapons of mass destruction, fraud, and corruption, and monitoring of restrictive lists, national and international sanctions, and other risk assessment mechanisms adopted by Ether.

Completion of registration does not imply automatic approval of the User, and access to the Platform remains conditional on satisfactory completion of the Compliance procedures.

Ether may conduct risk assessments before, during, or after the User's registration, using technical, operational, regulatory, and Compliance criteria, including through automated tools or specialized third parties.

Whenever necessary, additional documents, information, or clarifications may be requested to supplement the registration analysis. The User undertakes to keep their registration data permanently up to date.

Ether may, at any time, request confirmation or updating of previously provided information, as well as require new documentation whenever it identifies registration changes, changes in the risk profile, regulatory requirements, or the need to update records.

Unjustified refusal to provide the requested information may result in the suspension or termination of access to the Platform.

Based on objective security, Compliance, risk management, fraud prevention, or legal and regulatory compliance criteria, Ether may approve the registration, request additional information, refuse the registration, temporarily suspend its analysis, or cancel or terminate a previously approved registration.

The decision to approve or refuse may take into account, among other factors, relevant registration inconsistencies, the impossibility of validating the information, indications of fraud, incompatibility with Ether's internal policies, operational risk, reputational risk, or legal impediments.

Ether is not obliged to disclose the internal criteria used in its risk assessments where such disclosure could compromise its security, Compliance, or illicit-activity prevention procedures, except for information whose disclosure is required by law.

When registration is carried out through a Participant that is part of the DEX Ecosystem, the Participant must fully observe the Compliance, identification, and validation policies established by Ether. Final approval of the registration remains conditional on validation by Ether or its authorized partners, in accordance with the DEX Ecosystem's operational structure.

Registration approval is not final in nature. The User acknowledges that they will remain subject to ongoing monitoring, registration review, risk reclassification, and information update procedures throughout the entire period in which they use the DEX Platform.

Whenever relevant changes are identified in the User's profile, the nature of their operations, or their risk level, Ether may conduct new due diligence, require additional documentation, or adopt the measures provided for in these Terms.

Approval of the registration or authorization to use the DEX Platform does not confer on the User any vested right to remain in the DEX Ecosystem. Continued access will depend on ongoing compliance with these Terms, Compliance policies, governance standards, and applicable legal and regulatory requirements.

SERVICES PROVIDED

The DEX Platform provides Users and Participants with a technology infrastructure intended for the operation of the DEX Ecosystem, allowing access to digital solutions, operational functionalities, technology resources, systemic integrations, and other services made available by Ether, subject to the conditions set forth in these Terms, the DEX Participant Manual, and the applicable contractual instruments.

The services provided are technological in nature and are intended to support the operations, integrations, and processes developed within the DEX Ecosystem, and do not, by themselves, constitute the provision of financial, banking, or investment services.

Among others, the DEX Platform may provide the following functionalities: management of Users' and Participants' accounts and profiles; integration through APIs and other technology interfaces; recording, tracking, and management of operations carried out within the DEX Ecosystem; integration with blockchain networks and distributed ledger technologies (DLT); issuance, recording, movement, settlement, and management of digital assets, where applicable; use of DEX Keys and other operational identifiers; access to information, statements, histories, records, and operational reports; authentication, security, monitoring, and traceability tools; and other technology functionalities that Ether may make available in the future.

The availability of a given functionality may depend on the contracted modality, the User's profile, the Participant's category, the technology integration carried out, approval under Compliance procedures, or specific technical requirements.

The DEX Ecosystem may operate in an integrated manner with third-party systems, platforms, applications, and technology infrastructures, including financial institutions, payment institutions, technology providers, blockchain networks, authentication services, digital identity providers, digital asset issuers, and other strategic partners.

Use of such integrations will be subject, where applicable, to the terms of use, operating policies, and technical requirements of the relevant third parties.

The User acknowledges that the DEX Platform constitutes a technology infrastructure in constant evolution. Accordingly, Ether may, at any time and without the User's prior authorization, provided the essential purpose of the services is preserved, develop new functionalities, alter, replace, improve, or discontinue existing functionalities, implement new technologies, integrate new protocols, blockchain networks, or digital infrastructures, update APIs, interfaces, and integration standards, modify operational processes, technology flows, or technical requirements, and carry out maintenance, fixes, optimizations, or improvements in performance, security, stability, and interoperability.

Whenever such changes result in a material change to the rights or obligations of Users or Participants, Ether will disclose them through the DEX Ecosystem's official channels, as set forth in these Terms.

Functionalities may be made available gradually, experimentally, regionally, or restricted to certain categories of Users or Participants, according to technical, operational, commercial, regulatory, or security criteria defined by Ether. Ether may carry out tests, pilot projects, beta versions, certification programs, or progressive rollouts of new functionalities, and may alter, suspend, or discontinue them at any time.

Except where expressly provided for in a specific contractual instrument, the availability of a given functionality of the DEX Platform does not create a vested right to its permanent maintenance.

Ether may modify, replace, or discontinue functionalities, modules, integrations, APIs, or technology resources whenever such measures are necessary to ensure the evolution of the DEX Ecosystem, compliance with legal or regulatory requirements, the security of the Platform, or the improvement of the experience of its Users and Participants.

Ether may make new products, functionalities, integrations, or services related to the DEX Ecosystem available, which may be subject to specific conditions of use, contracting, remuneration, service levels (SLA), technical requirements, or their own policies, which will supplement these Terms wherever applicable.

Ether may make functionalities, modules, integrations, or technologies available in testing, demonstration, certification, or early access ("Beta") phases, the use of which is optional and may be subject to specific conditions, operational limitations, or changes without prior notice. Except where expressly provided otherwise, such functionalities will not be covered by any applicable service levels (SLA) and may be modified, suspended, or discontinued at any time.

USER OBLIGATIONS

The User undertakes to use the DEX Platform and the other resources forming part of the DEX Ecosystem in strict compliance with applicable legislation, these Terms, the contractual instruments entered into with Ether, the DEX Participant Manual, institutional policies, technical standards, and other documents forming part of the DEX Ecosystem's Regulatory Framework.

Without prejudice to the other obligations set forth in these Terms and applicable legislation, the User undertakes to provide truthful, complete, accurate, and up-to-date information, documents, and representations; keep their registration data permanently up to date; use the Platform exclusively for lawful purposes compatible with its operational purpose; act in good faith, with loyalty, diligence, and cooperation throughout their use of the DEX Ecosystem; observe Compliance standards, the prevention of money laundering, the fight against terrorist financing, fraud prevention, personal data protection, and information security; immediately notify Ether of any misuse, suspected fraud, security incident, or unauthorized access of which they become aware; and respond, within the established deadline, to Ether's requests for information or documents made for purposes of auditing, compliance, risk management, or compliance with legal obligations.

The User is solely responsible for safeguarding, keeping confidential, and using their access credentials, passwords, authentication codes, cryptographic keys, digital certificates, tokens, multi-factor authentication (MFA) devices, and any other security mechanisms used to access the DEX Platform.

Sharing such credentials with third parties is prohibited, and the User will be liable for all acts carried out through their use, except where a failure attributable exclusively to Ether is proven.

The User undertakes to use the DEX Platform in an ethical, responsible manner compatible with its purpose, refraining from any act that could compromise the security, stability, availability, integrity, or operation of the DEX Ecosystem.

Among other conduct, the User is prohibited from: using the Platform for unlawful or fraudulent purposes or in violation of legislation; attempting to access restricted areas, systems, servers, or databases without authorization; interfering with the operation of the Platform or its security mechanisms; introducing viruses, malware, malicious code, or any mechanism intended to compromise the technology infrastructure; carrying out reverse engineering, decompilation, disassembly, reproduction, modification, or creation of derivative works of the Platform, except where expressly authorized by law or by Ether; using robots, scripts, crawlers, bots, or other unauthorized automated mechanisms to access, collect data from, or interact with the Platform; and engaging in conduct that could cause overload, unavailability, or degradation of the DEX Ecosystem's systems.

The User is fully responsible for the operations carried out through their account, credentials, or access environment, as well as for the correct use of the functionalities made available by the DEX Platform.

It is the User's responsibility to verify in advance all information related to the operations carried out, especially digital wallet addresses, identifiers, keys, amounts, blockchain networks, recipients, and other operational parameters, acknowledging that certain operations may be irreversible in nature.

The User undertakes to cooperate with the Compliance procedures adopted by Ether, promptly providing documents, information, clarifications, and other elements necessary to carry out identification, registration validation, transaction monitoring, fraud prevention, money laundering prevention, the fight against terrorist financing, compliance with economic sanctions, and compliance with legal or regulatory obligations.

Unjustified refusal to respond to Ether's requests may give rise to the measures set forth in these Terms, including suspension or termination of access to the Platform.

The User undertakes to monitor and observe updates to these Terms, the DEX Participant Manual, institutional policies, technical standards, and official communications published by Ether, and is responsible for adapting their use of the Platform to regularly disclosed changes.

It is the User's sole responsibility to provide and maintain, at their own expense, equipment compatible with use of the Platform, an internet connection, licensed software, protection systems against malicious code, adequate cybersecurity mechanisms, and updates to the operating system and applications used to access the Platform. Ether will not be liable for failures arising from the technology infrastructure used by the User itself.

The User will be liable for acts carried out by their employees, officers, representatives, attorneys-in-fact, staff, service providers, or any third parties who use their credentials, technology environment, or authorization to access the DEX Platform.

Failure to comply with the obligations set forth in this Chapter may, depending on the severity of the breach and without prejudice to other applicable measures, subject the User to the measures provided for in these Terms, including requests for clarification, requirements to remedy the breach, limitation of functionalities, temporary suspension, blocking of operations, termination of registration, and notification of the competent authorities, where required by applicable legislation.

SECURITY

Ether adopts technical, administrative, and organizational measures intended to protect the DEX Platform and the other components of the DEX Ecosystem, seeking to preserve the confidentiality, integrity, availability, authenticity, and traceability of information, systems, and operations carried out. Such security measures will be continuously assessed and may be updated due to technological evolution, the identification of new risks, regulatory changes, or the adoption of new information security practices.

As a means of protecting the DEX Ecosystem, the Platform may require the use of authentication mechanisms compatible with the risk level of each operation, including multi-factor authentication (MFA), biometric authentication, digital certificates, trusted devices, risk-based authentication, additional identity validation, and other security mechanisms that Ether may adopt. The User acknowledges that the use of such mechanisms is an essential requirement for access to certain functionalities and undertakes to fully observe the established authentication procedures.

In order to preserve the security, stability, and integrity of the DEX Ecosystem, Ether may continuously monitor use of the Platform, recording events related to access, authentication, operations carried out, use of APIs, registration changes, security events, device identifiers, IP addresses, date and time records, and other technical information necessary for auditing, fraud prevention, incident investigation, compliance with legal obligations, and protection of the rights of Ether, Users, and third parties, always in accordance with applicable legislation and the Privacy Policy.

Ether will maintain internal procedures for the prevention, identification, analysis, containment, treatment, and mitigation of security incidents that could compromise the DEX Platform. Whenever the nature of an incident warrants it, or where required by applicable legislation, emergency measures may be adopted to preserve the security of the technology infrastructure, including the temporary limitation of functionalities, preventive blocking of access, resetting of credentials, revalidation of identity, suspension of operations, or other technically necessary measures, without such measures constituting a breach of contract.

Ether may implement, at any time, updates intended to strengthen the security of the DEX Platform, including vulnerability fixes, replacement of cryptographic algorithms, renewal of digital certificates, changes to communication protocols, improvements to authentication mechanisms, and any other measures necessary to preserve the integrity of the DEX Ecosystem. Whenever such updates require action by the User or the Participant, they will be communicated through official channels, except where the urgency of the measure warrants its immediate implementation.

The User undertakes to keep their access credentials, passwords, digital certificates, authentication devices, and other mechanisms used to access the DEX Platform strictly confidential, and is responsible for their safekeeping and use. The User must also protect the devices used to access the Platform, keep their systems and software up to date, adopt good digital security practices, and immediately notify Ether of any suspected unauthorized access, compromise of credentials, security incident, attempted fraud, or any event that could pose a risk to the DEX Ecosystem, fully cooperating with the measures adopted to contain and investigate the incident.

Participants that carry out integrations with the DEX Platform through APIs or any other technology interfaces will be responsible for maintaining environments compatible with the security standards defined by Ether, adopting adequate controls to protect their applications, systems, credentials, and communications. Ether may limit, suspend, or discontinue integrations that present vulnerabilities, behavior incompatible with the established technical standards, or any situation that poses a risk to the security, stability, or integrity of the DEX Ecosystem.

The User acknowledges that no computer system or technology infrastructure is absolutely immune to failures, vulnerabilities, cyberattacks, unavailability, or other events arising from the dynamics of digital environments. Ether undertakes to adopt measures compatible with best information security practices to mitigate such risks, without, however, guaranteeing the absolute absence of incidents arising from factors beyond its control.

Ether may implement, at any time and without the User's prior authorization, security updates, vulnerability fixes (security patches), changes to cryptographic protocols, replacement of algorithms, renewal of digital certificates, changes to authentication mechanisms, or any other technical measures intended to protect the DEX Platform and the DEX Ecosystem. Whenever such updates require action by the User or the Participant, they will be communicated through official channels with reasonable advance notice, except where the urgency of the measure warrants its immediate implementation.

BLOCKCHAIN AND VIRTUAL ASSETS

The DEX Platform may use, integrate, or interoperate with distributed ledger technologies (DLT), public or private blockchain networks, decentralized protocols, virtual assets, tokens, smart contracts, and other technologies compatible with the functionalities made available by the DEX Ecosystem. The User represents that they are aware that such technologies have their own operating, governance, and validation characteristics, many of which are independent of Ether's actions or control.

The User acknowledges that operations recorded on blockchain networks are, as a rule, final and irreversible once validated by the respective network, and cannot be canceled, reversed, altered, or undone at Ether's initiative. Because of this characteristic, it is the User's sole responsibility to verify in advance all information related to the intended operation, including amounts, assets, destination addresses, wallets, identifiers, networks used, and other technical parameters necessary for the correct execution of the transaction.

The User is solely responsible for the accuracy of the information entered to carry out operations involving virtual assets, including the indication of digital wallets, public keys, identifiers, blockchain networks, smart contracts, and any other technical elements necessary to process the transaction. Ether will not be liable for losses resulting from typing errors, use of an incorrect address, mistaken selection of the blockchain network, incompatibility between protocols, or any other information incorrectly provided by the User.

The User represents that they are aware that the use of virtual assets and blockchain technologies involves risks inherent to the digital environment, including technological fluctuations, network congestion, delays in transaction confirmation, forks, chain reorganizations, smart contract failures, temporary protocol unavailability, cyberattacks, software vulnerabilities, changes made by the communities responsible for the respective networks, and other events beyond Ether's control.

The User acknowledges that such risks are inherent to the use of these technologies and will fully assume the consequences arising from their use, except where the damage results from conduct proven to be attributable to Ether.

Ether does not develop, administer, or control the public or private blockchain networks used by the DEX Platform, nor does it exercise control over their consensus mechanisms, governance rules, block validation, availability, protocol updates, the setting of network fees, or any other operational aspect of such infrastructures.

Whenever a given functionality depends on the involvement of blockchain networks or technology services provided by third parties, its execution will be subject to the technical, operational, and availability conditions of those environments, and Ether may not be held liable for events arising from their operation, except in the cases provided for by applicable legislation.

Except where expressly provided for in a specific contract or where custody is carried out by a duly authorized institution or partner, use of the DEX Platform does not entail Ether assuming the safekeeping, custody, or administration of the virtual assets belonging to the User.

Whenever the management of cryptographic keys, digital wallets, or virtual assets remains the responsibility of the User or of third parties designated by them, it is solely their responsibility to adopt the measures necessary for their protection, recovery, and proper use.

The User acknowledges that certain operations carried out through the DEX Platform may be subject to fees charged by the respective blockchain networks (network fees, gas fees, or equivalents), which are set by the protocols or validators of the network themselves and do not constitute remuneration for Ether. Ether has no control over the amount, calculation method, variation, or destination of such fees, and is limited, where applicable, to presenting or passing them through to enable the operation.

COMPLIANCE

Ether maintains a permanent Compliance program intended for the prevention, identification, mitigation, and treatment of legal, regulatory, operational, reputational, and financial risks, adopting policies, procedures, and internal controls compatible with the nature of the activities carried out within the DEX Ecosystem.

The Compliance Program observes, among other applicable standards, legislation related to the prevention and combating of money laundering, terrorist financing, financing of the proliferation of weapons of mass destruction, corruption, fraud, national and international economic sanctions, personal data protection, and other legal and regulatory obligations applicable to Ether's activities.

As a condition for access to, use of, and continued presence in the DEX Ecosystem, the User represents that they are aware that they may be subjected, before and throughout the term of their relationship with Ether, to identification, qualification, registration validation, and due diligence procedures, including Know Your Customer (KYC), Know Your Business (KYB), and Know Your Transaction (KYT) processes, identification of ultimate beneficial owners, legal representatives, and politically exposed persons (PEPs), document review, biometric validation, transaction monitoring, risk analysis, and any other procedures deemed necessary by Ether to comply with legislation, regulatory standards, internal policies, or market best practices.

Completion of registration or the User's initial approval does not prevent Ether from conducting new due diligence, registration reassessments, or risk reclassifications at any time.

The User acknowledges that all operations carried out through the DEX Platform may be subject to continuous monitoring, whether automated or manual, in order to identify operations incompatible with the User's registration profile, indications of fraud, atypical movements, misuse of the Platform, breach of these Terms, or any situation that could pose a risk to the DEX Ecosystem.

For this purpose, Ether may use its own or third-party tools specialized in blockchain analysis, virtual asset tracking, digital wallet monitoring, transaction risk assessment (Know Your Transaction – KYT), identification of links to illicit activities, behavioral analysis, artificial intelligence, public and private databases, restrictive lists, and other technology mechanisms compatible with its Compliance policies.

Ether may verify, at any time, the existence of restrictions related to the User, their representatives, ultimate beneficial owners, digital wallets, virtual assets, or operations carried out, by checking national and international sanctions lists, lists of politically exposed persons, terrorism lists, fraud prevention databases, and other specialized systems.

The User represents that they will not use the DEX Platform to carry out operations that violate economic embargoes, international sanctions, trade restrictions, or judicial or administrative rulings, nor to benefit persons, entities, organizations, or jurisdictions subject to restrictions imposed by competent authorities.

The User undertakes to fully cooperate with the Compliance procedures adopted by Ether, providing, whenever requested, documents, information, clarifications, and evidence necessary for registration validation, updating of information, analysis of operations, audits, internal investigations, or compliance with legal and regulatory obligations.

Failure to respond to Ether's requests, the provision of false, incomplete, or inconsistent information, the concealment of relevant information, or any conduct that hinders the Compliance procedures may give rise to the measures set forth in this Chapter.

Whenever it identifies a situation that could pose a risk to the DEX Ecosystem, its Users, Ether, or compliance with legal and regulatory obligations, Ether may adopt preventive measures proportionate to the identified risk, without the User's prior authorization. Such measures may include requesting additional documents or clarifications, registration revalidation, temporary limitation of functionalities, preventive retention of operations, temporary blocking of transactions, suspension of integrations, suspension of access to the Platform, precautionary blocking of the registration, or any other measures necessary to preserve the security, integrity, and compliance of the DEX Ecosystem.

Preventive measures will remain in effect for as long as necessary to complete internal analyses or to comply with applicable legal and regulatory requirements.

Due to the constant evolution of legislation, regulatory standards, and governance best practices, Ether may review and update its Compliance policies, risk assessment criteria, and internal procedures, and undertakes to disclose such changes through the DEX Ecosystem's official channels whenever they have a material effect on Users.

The analyses, risk classifications, due diligence, approvals, refusals, blocks, or other decisions adopted by Ether within its Compliance Program are preventive in nature and are intended exclusively for risk management and compliance with legal and regulatory obligations. Such measures do not constitute a declaration of guilt, an accusation of unlawful conduct, or a final judgment on the User's conduct, and may be reviewed whenever new relevant information or evidence arises.

Ether may report to the competent authorities, regulatory bodies, supervisory entities, financial intelligence units, partner institutions, or other legally competent bodies any operations, information, or facts whose disclosure is required by law or that present indications of irregularity, fraud, money laundering, terrorist financing, or any other illicit activity. The User acknowledges that such disclosures may occur regardless of their authorization, prior notice, or agreement, whenever there is a legal obligation or legitimate interest in protecting the DEX Ecosystem and the community.

SUSPENSION, BLOCKING, AND TERMINATION

Ether may, at any time and without the User's prior authorization, adopt preventive or definitive measures intended to protect the DEX Platform, the DEX Ecosystem, its Users, Participants, partners, and Ether itself, whenever it identifies situations that pose a legal, regulatory, operational, financial, reputational, or security risk, subject to applicable legislation and the provisions of these Terms.

Depending on the nature and severity of the situation, such measures may include the limitation of functionalities, the preventive retention of operations, the blocking of transactions, the temporary suspension of access, the suspension of integrations, the precautionary blocking of the registration, requests for additional information or documents, and the definitive termination of the relationship with the User.

Without prejudice to the other cases provided for in these Terms, Ether may block operations, temporarily suspend the User's access, or permanently terminate their relationship with the DEX Ecosystem whenever it identifies, among other situations: indications of money laundering, terrorist financing, financing of the proliferation of weapons of mass destruction, or any other financial crime; suspected fraud, document forgery, misrepresentation, use of a false identity, or an attempt to conceal the identity of the User or their ultimate beneficial owner; unjustified refusal to provide documents or information requested for Compliance purposes; material registration inconsistencies or the impossibility of validating the information submitted; use of the Platform for an unlawful, abusive purpose, or one incompatible with these Terms; an attempt to circumvent Ether's security, monitoring, or internal control mechanisms; movements incompatible with the User's economic, financial, or operational profile; the identification of links to persons, entities, digital wallets, or jurisdictions subject to economic sanctions, embargoes, or legal restrictions; a judicial, administrative, or competent-authority ruling; or any other situation that, according to objective, technical risk management criteria, poses a threat to the security, integrity, reputation, or compliance of the DEX Ecosystem.

The measures provided for in this Chapter may be adopted immediately, preventively, and without prior notice when Ether believes that a delay in their implementation could compromise the security of the Platform, the integrity of operations, compliance with legal or regulatory obligations, the protection of third parties, or the effectiveness of investigative procedures.

Whenever the law permits, and provided it does not compromise ongoing investigations, Ether may inform the User of the existence of restrictions applied and the measures necessary for possible regularization.

The suspension or preventive block will remain in effect for as long as necessary to carry out internal analyses, complete Compliance procedures, meet requirements set by Ether, or comply with legal, regulatory, or judicial rulings. During this period, Ether may request documents, clarifications, or additional information, and the User undertakes to fully cooperate with such procedures.

Termination of access to the DEX Platform will not affect the enforceability of obligations previously assumed by the User, nor will it exclude the application of the provisions relating to confidentiality, data protection, intellectual property, auditing, Compliance, liability, cooperation with competent authorities, and other obligations that, by their nature, must survive the end of the contractual relationship.

The adoption of the measures provided for in this Chapter does not constitute a breach of contract, abuse of rights, or unlawful act on Ether's part, nor does it give the User any right to indemnification, reimbursement, or compensation of any kind, provided that such measures are adopted in good faith, proportionately, and in accordance with applicable legislation.

INTELLECTUAL PROPERTY

All intellectual property rights related to the DEX Platform, the DEX Ecosystem, and the technology solutions made available by Ether belong exclusively to Ether or to the respective rights holders that have authorized their use.

This protection includes, without limitation, software, source code, object code, systems architecture, APIs, SDKs, interfaces, databases, data models, technical documentation, manuals, operational flows, algorithms, artificial intelligence, smart contracts, tokenization solutions, integrations, layouts, visual identity, trademarks, trade names, domain names, logos, graphic elements, texts, images, videos, institutional materials, trade secrets, know-how, methodologies, processes, business models, and any other intellectual assets developed or used by Ether.

During the term of the contractual relationship, and provided the provisions of these Terms and the applicable contracts are observed, Ether grants the User a personal, limited, non-exclusive, non-transferable, revocable, and non-sublicensable license to access and use the DEX Platform exclusively for the purposes authorized by the DEX Ecosystem.

This license does not entail the assignment, transfer, or waiver of any intellectual property rights belonging to Ether, all of which remain fully reserved.

Except with Ether's prior express authorization or in cases permitted by applicable legislation, the User and Participant are prohibited from copying, reproducing, modifying, adapting, translating, distributing, marketing, sublicensing, making available to third parties, carrying out reverse engineering, decompiling, disassembling, creating derivative works, removing technological protection mechanisms, circumventing access controls, extracting databases, or engaging in any act that could violate the intellectual property rights related to the DEX Platform or the DEX Ecosystem.

Use of the Platform or any of its components is also prohibited for the development of competing products, replication of functionalities, training of artificial intelligence models, data mining, data scraping, or any other purpose not expressly authorized by Ether.

The User may submit suggestions, comments, ideas, recommendations, or proposals for improvement related to the DEX Platform. Except for a specific contractual arrangement to the contrary, the User acknowledges that Ether may use, develop, modify, incorporate, or implement such contributions without any obligation to pay remuneration, provide attribution, or grant compensation of any kind, and Ether will remain the full owner of the intellectual property rights arising from any implementations made.

The trademarks, logos, trade names, domain names, distinctive signs, and other visual identity elements used within the DEX Ecosystem are assets protected by intellectual property legislation and may not be used by the User without Ether's prior, express, written authorization, except where such use arises from a specific license or from institutional materials made available for that purpose.

Updates, improvements, fixes, new functionalities, integrations, APIs, modules, versions, tools, processes, methodologies, and other technological developments incorporated into the DEX Platform will remain the exclusive property of Ether, even if they arise from suggestions, operational demands, or needs identified during use of the Platform by its Users or Participants.

Use of the DEX Platform in violation of this Chapter, or the commission of any act that violates the intellectual property rights of Ether or third parties, may result in the immediate suspension of access to the Platform, termination of the contractual relationship, the adoption of applicable judicial and extrajudicial measures, and the offender's civil, administrative, and criminal liability, without prejudice to full compensation for the losses and damages caused.

The User acknowledges that statistical data, aggregate metrics, operational indicators, anonymized information, telemetry, technical records, and other data generated by use of the DEX Platform, provided they do not allow the User to be identified or contain information protected by legal or contractual confidentiality, may be used by Ether for purposes of technology development, product improvement, performance analysis, information security, operational intelligence, research, innovation, and the preparation of statistics, and such informational assets will remain the exclusive property of Ether.

PRIVACY AND DATA PROTECTION

Ether undertakes to process personal data in accordance with Law No. 13,709/2018 (General Personal Data Protection Law – LGPD), as well as other standards applicable to the protection of privacy, information security, and data governance.

The processing of personal data will be carried out in observance of the principles of good faith, purpose, adequacy, necessity, free access, data quality, transparency, security, prevention, non-discrimination, and accountability, as set forth in current legislation.

The User acknowledges that their personal data may be processed by Ether whenever necessary to enable the operation of the DEX Platform and the DEX Ecosystem, including, among other purposes, registration, authentication, identification, performance of the contractual relationship, provision of the services made available by the Platform, User support, fraud prevention, prevention of money laundering, the fight against terrorist financing, compliance with legal, regulatory, and contractual obligations, security monitoring, audits, risk management, credit protection, the regular exercise of rights in administrative, arbitration, or judicial proceedings, and for the improvement of services, development of new functionalities, and other purposes described in the Privacy Policy.

The processing of personal data may be based, depending on the specific case, on the performance of a contract or preliminary procedures related to contracting, compliance with a legal or regulatory obligation, the regular exercise of rights, credit protection, the legitimate interest of Ether or third parties, the protection of life or physical safety, or the data subject's consent, where required by applicable legislation.

The User acknowledges that their personal data may be shared with companies belonging to the Ether Group, business partners, financial institutions, payment institutions, technology service providers, infrastructure providers, suppliers specialized in Compliance, fraud prevention, blockchain analysis, digital authentication, data storage, information security, and other third parties whose involvement is necessary for the operation of the DEX Ecosystem or for compliance with legal and regulatory obligations. Such sharing will be carried out only to the extent necessary to fulfill the respective purposes, subject to applicable legal requirements and the security controls adopted by Ether.

Due to the technological nature of the DEX Platform and the use of infrastructure, cloud computing, blockchain, authentication, storage, or data processing services provided by companies located abroad, international transfer of personal data may occur. In such cases, Ether will adopt the measures required by applicable legislation to ensure an adequate level of protection for personal data and compliance with the safeguards set forth in the LGPD.

Ether adopts technical, administrative, and organizational measures intended to protect personal data against unauthorized access, destruction, loss, alteration, disclosure, or any other form of inappropriate or unlawful processing, observing standards compatible with the nature of the data processed, the risks involved, and best information security practices. The User acknowledges that no technology system is absolutely immune to cyber risks and also undertakes to adopt reasonable measures to protect their credentials, devices, and access information.

The rights of personal data subjects will be ensured in accordance with applicable legislation and may be exercised through the official channels made available by Ether, subject to legal grounds for restriction, regulatory deadlines, and the verifications necessary to confirm the requester's identity.

Whenever fulfilling a given request could compromise legal or regulatory obligations, Compliance procedures, investigations, fraud prevention, the security of the DEX Ecosystem, or the rights of Ether itself or of third parties, the request will be analyzed in accordance with the limits established by the LGPD and by the regulations of the Brazilian National Data Protection Authority (ANPD).

The specific rules relating to the processing of personal data, categories of data collected, retention periods, sharing of information, use of cookies, data subjects' rights, service channels, and other information related to data protection are set forth in the DEX Platform's Privacy Policy, which forms part of these Terms for all legal purposes. By accepting these Terms, the User represents that they are aware of the existence of the Privacy Policy and agrees that both documents should be interpreted as complementary to each other.

Personal data will be stored for as long as necessary to fulfill the purposes that justified its collection, to comply with legal, regulatory, contractual, and Compliance obligations, for the regular exercise of rights by Ether, or for as long as another legal basis authorizing its retention remains in effect. Once the legal deadlines have expired and there is no legal basis for its retention, the data will be deleted or anonymized, in accordance with applicable legislation and Ether's internal policies.

The User acknowledges that certain information related to operations carried out through blockchain networks, such as public wallet addresses, transaction identifiers (hashes), distributed records, and other information inherent to the operation of such networks, may remain permanently recorded on the respective blockchain due to their technical characteristics. Ether has no control over the alteration, deletion, or anonymization of such records when stored on decentralized networks, without prejudice to compliance with the LGPD regarding personal data processed in its own environments and systems.

LIMITATION OF LIABILITY

The DEX Platform constitutes a technology infrastructure intended to provide digital solutions for the DEX Ecosystem. Ether's liability is limited to the provision of the technology services it makes available, and it is not liable for acts, omissions, products, services, or obligations assumed by Users, Participants, financial institutions, payment institutions, asset issuers, custodians, technology providers, blockchain networks, or any other third parties that form part of or are related to the DEX Ecosystem.

Ether will not be liable for losses arising from unavailability, interruption, performance degradation, delays, or failures caused by factors beyond its control, including power failures, telecommunications service interruptions, internet unavailability, cyberattacks, acts of third parties, acts of God, force majeure, rulings by competent authorities, strikes, armed conflicts, natural disasters, or any other unforeseeable or unavoidable events.

The User acknowledges that blockchain networks, decentralized protocols, smart contracts, and other distributed ledger technologies operate autonomously and independently of Ether. Accordingly, Ether is not liable for network congestion, delays in transaction confirmation, forks, blockchain reorganizations, protocol changes, vulnerabilities, network unavailability, variations in network fees, validator failures, or any other events inherent to the operation of such technologies.

It is the User's sole responsibility to verify the accuracy of the information used in operations carried out through the DEX Platform, including digital wallet addresses, public keys, identifiers, blockchain networks, smart contracts, amounts, recipients, and other technical parameters. Ether will not be liable for losses arising from data entry errors, use of an incompatible network, incorrect indication of addresses, loss of cryptographic keys, compromise of credentials, or any other failure attributable to the User itself or to third parties under their responsibility.

Ether does not guarantee that the DEX Platform will remain entirely free of errors, vulnerabilities, interruptions, or temporary unavailability, but undertakes to adopt measures compatible with market best practices to maintain the security, stability, availability, and continuous evolution of the DEX Ecosystem.

To the maximum extent permitted by applicable legislation, Ether will not be liable for indirect damages, lost profits, loss of opportunity, loss of revenue, loss of business, reputational damage, loss of data, losses arising from the volatility of virtual assets, or any consequential damages related to use of the DEX Platform, except in cases of willful misconduct or gross negligence proven to be attributable to Ether, or those in which liability cannot be legally limited or excluded.

No provision of these Terms excludes or limits Ether's liability in cases where such limitation is prohibited by applicable legislation, and the provisions of this Chapter must be interpreted in a manner compatible with the rights ensured to the User and with public policy standards.

ASSOCIATION MEMBERSHIP IN THE DEX ECOSYSTEM

The DEX Platform is part of a private technology ecosystem developed and maintained jointly with the DEX Association of Blockchain Entrepreneurs, a private, non-profit entity intended to promote technological innovation, development of the blockchain ecosystem, the establishment of technical standards, good governance practices, interoperability, compliance, information security, self-regulation, and the sector's institutional development.

As a condition for participation in the DEX ecosystem, the User or Participant represents that, by electronically accepting these Terms, they freely express their intention to become a member of the Association, and undertake to observe its Bylaws, internal regulations, code of conduct, and other applicable standards.

Membership is institutional in nature and is intended exclusively for organized participation in the DEX Platform's technology ecosystem, and does not, by itself, confer any equity, corporate, or financial right, share in revenue, distribution of results, promise of profitability, or any economic expectation.

The User represents that their membership in the Association arises from a free, conscious, and informed expression of will, constituting a contractual requirement for use of the DEX Platform, due to the governance and self-regulation structure adopted by the ecosystem.

Should the User choose not to become a member of the Association, or later request their withdrawal, they will automatically be unable to continue using the DEX Platform, without prejudice to the fulfillment of previously assumed obligations and the observance of the provisions relating to confidentiality, data protection, auditing, compliance, and liability set forth in the applicable instruments.

The Association may maintain a register of members, hold assemblies, issue technical standards, establish operational standards, decide on governance rules, and develop institutional initiatives related to the DEX ecosystem, subject to its Bylaws and applicable legislation.

COMMUNICATIONS

The User acknowledges and agrees that acceptance of these Terms may occur electronically, through the selection of a specific field, the use of an acceptance button, an electronic signature, authentication on the DEX Platform, or any other electronic mechanism made available by Ether, and such an act shall be considered valid, effective, and sufficient to prove their awareness of and agreement with the provisions of this instrument.

Ether may send communications related to the DEX Platform, the services made available, these Terms, applicable policies, security procedures, Compliance, operational updates, and other matters related to the DEX Ecosystem through the communication channels registered by the User, including email, notifications on the Platform, messages within the authenticated environment, applications, integrated systems, or other electronic means made available by Ether.

The User is responsible for keeping their registration data and communication channels permanently up to date, especially their email address, phone number, and other information necessary to receive official communications. Failure to update such data will not affect the validity of communications sent to the channels previously provided by the User.

Communications made electronically will be considered valid and effective when sent to the channels registered by the User or made available within their authenticated environment on the DEX Platform, subject to the deadlines and other requirements set forth in applicable legislation and, where applicable, in the specific contract entered into between the parties.

The User acknowledges that electronic records related to acceptance of these Terms, including the date, time, account identification, IP address, device used, version of the document accepted, and other available technical elements, may be stored by Ether for purposes of proving the expression of will, auditing, information security, compliance with legal obligations, and the regular exercise of rights.

Whenever legislation, a competent authority, or a specific contractual instrument requires communication through a particular means, Ether will observe the applicable channel and requirements, without prejudice to the complementary use of electronic means to ensure greater effectiveness and traceability of the communication.

Communications sent by Ether may contain links, documents, notices, confirmation requests, security procedures, or other information necessary for the regular use of the DEX Platform. The User must observe the security guidance disclosed by Ether and must not provide passwords, authentication codes, or private keys through channels not officially made available by the Platform.

Communications sent by the User to Ether must be made through the official channels made available on the DEX Platform or the other means expressly indicated by Ether, and messages sent to unauthorized channels or to third parties that are not part of Ether's institutional channels will not be recognized as official communications.

DOCUMENT HIERARCHY

Use of the DEX Platform and participation in the DEX Ecosystem will be subject to these Terms, the Participant Manual, any Commercial Agreement entered into between the parties, and the policies, standards, and procedures applicable to the Platform, which must be interpreted in a complementary and integrated manner, taking into account the nature and purpose of each instrument.

In the event of a discrepancy or conflict between the provisions of the documents applicable to the User or Participant, the following will prevail, in order of priority: the provisions of the Participant Manual, followed by the provisions of the Commercial Agreement, these Terms and Conditions of Use, and, lastly, the Policies and other operational documents made available by Ether, except where the instrument itself expressly establishes a specific rule of precedence.

The Participant Manual and the Commercial Agreement apply only to Participants, and other users must observe the Terms and Conditions of Use, as well as the Policies and other documents made available by the DEX Ecosystem.

The Participant Manual may establish technical, operational, governance, Compliance, security, and integration requirements applicable to Participants in the DEX Ecosystem, while the Commercial Agreement may establish specific conditions relating to contracting, remuneration, responsibilities, service levels, and other commercial obligations agreed between the parties.

The policies, procedures, technical manuals, and other documents made available by Ether will supplement these Terms and may be updated periodically due to legal, regulatory, technological, operational, or security changes, subject to the applicable communication and update procedures.

No provision of these Terms, the Participant Manual, the Commercial Agreement, or the Policies shall be interpreted in a manner that excludes any applicable legal or regulatory obligation, and public policy standards and the rulings of competent authorities shall prevail in any case.