Legal

Eligibility

Only vetted and whitelisted professional participants are eligible to create and redeem OpenDelta products, subject to KYC/KYB verification and execution of a non-transferable private agreement.

To qualify as a professional participant, a person must meet the definition of a professional or qualified investor under the applicable laws of their jurisdiction, and meet at least two of the following criteria:

• A balance sheet total of not less than EUR 20 million (or equivalent);

• An annual net turnover of not less than EUR 40 million (or equivalent);

• Own funds of not less than EUR 2 million (or equivalent).

In addition to the above criteria, a Professional Participant must not be on a sanction list or located, organized, or be a resident in any of the restricted jurisdictions.

All transactions involving OpenDelta products are recorded onchain and remain publicly accessible at all times. The index tokens serve as units of account (ledger entries) for the relevant index instruments.through which certain economic exposure to the performance of the relevant index products is obtained or tracked.

Whenever a creation or redemption of such index instruments occurs, the corresponding amount of index token is minted or extinguished (burned or invalidated), respectively, to reflect and account for such transaction onchain. Being a unit of account, an index token, by design, does not confer any legal rights, economic entitlements, or participation in any enterprise or arrangement.

These tokens are freely transferable and composable across the Solana DeFi ecosystem. This standard also enables seamless integration into any front-end or user-facing application that supports SPL tokens.