.
| Right of Access | You are entitled to obtain from us details concerning the processing of your personal information. This includes details of the data being processed, the purposes of the processing, any recipients of that information, the period for which the information is processed, the source of the information (if it is not provided by you), any international transfers of the information and the protections we put in place to protect your information. You are also entitled to details of any automated decision making, including profiling, involving your information.
You are entitled to a copy of the personal information we process about you (including in electronic form). Additional copies may be subject to a reasonable administrative fee.
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| Right to Rectification | You are entitled to have any incomplete and inaccurate personal information held by us rectified. |
| Right to Erasure ("be forgotten") | In certain circumstances you are entitled to have personal information erased, including where this is no longer necessary for the purposes for which it was collected and/or processed; or you withdraw consent to our use of the information.
We may continue processing the information in certain circumstances, including: if there are grounds other than consent for processing the information; where processing is in compliance with a legal obligation or for reasons of public interest; or for the exercise or defence of legal claims.
If you request that we erase your personal information we shall advise you if we consider that there are on-going grounds permitting us to continue processing your information.
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| Right to Restrict Processing | You can ask us to restrict the processing of personal information that August holds if: you contest the accuracy of the personal information we process about you; you consider that the processing is unlawful but you do not want us to erase the information; we do not require to continue processing the information but you wish the information to be retained in connection with a legal claim; or you have objected to the grounds upon which we process the information.
Where you have asked us to restrict processing the information we shall only hold, process and erase the information as permitted by you or as permitted by applicable data protection laws. We will advise you if we do not agree with your request to restrict processing and our reasons.
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| Right to Data Portability | Where you provide personal information to us and consent to us using it and the processing is carried out by automatic means you are entitled to receive a copy of that information in a machine-readable format and for that to be provided to another data controller, where technically possible. |
| Right to Object | You are entitled to object to August collecting, using and otherwise processing your personal information where the basis for the processing is August’s legitimate interests or the processing is in the public interest. In such circumstances we shall cease processing your personal information unless: we are legitimately processing the information on a different basis; there are compelling legitimate grounds for continuing to process the personal information; or we are otherwise permitted to process the information under applicable data protection laws. If applicable, we will advise you of the basis upon which August continues to process your personal information.
If you are not clear of the ground(s) upon which we collect, use and process your personal information you can ask us to confirm this to you, as part of the Right of Access outlined above.
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| Right to Withdraw Consent | Where you have given us consent to make use of your personal information for any of the purposes outlined in this Privacy Policy you shall be entitled to withdraw that consent. You may do this by emailing us at . |
| Right to Complain | In the event that you have any questions, concerns or complaints regarding this Privacy Policy or the manner in which August collects, uses and otherwise processes your personal information we shall always seek to address the same promptly and to your satisfaction. However if you consider that we have not done so you are entitled to lodge a complaint to your local supervisory authority.
If you are unclear who the appropriate supervisory authority is for you, please contact us at .
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### Age Limitations
To the extent prohibited by applicable law, we do not allow use of our Services and Sites by anyone younger than the legal age in the jurisdiction in which the user resides. If you learn that anyone younger than the legal age has unlawfully provided us with personal data, please contact us at and we will take steps to delete such information, close any such accounts, and, to the extent possible, prevent the user from continuing to use our Services.
### Changes to This Policy
If we make any changes, we will change the Last Updated date above. We encourage you to review this Policy to stay informed. If we make material changes, we will provide additional notice, such as via the email specified in your account or through the Services or Sites.
### Online Tracking Opt-out Guide
Like many companies online, we use services provided by Google and other companies that use tracking technology. These services rely on tracking technologies-such as cookies and web beacons-to collect directly from your device information about your browsing activities, your interactions with websites, and the device you are using to connect to the Internet. There are a number of ways to opt out of having your online activity and device data collected through these services, which we have summarized below:
* Blocking cookies in your browser. Most browsers let you remove or reject cookies, including cookies used for interest-based advertising. To do this, follow the instructions in your browser settings. Many browsers accept cookies by default until you change your settings. For more information about cookies, including how to see what cookies have been set on your device and how to manage and delete them, visit [www.allaboutcookies.org](http://www.allaboutcookies.org/).
* Blocking advertising ID use in your mobile settings. Your mobile device settings may provide functionality to limit use of the advertising ID associated with your mobile device for interest-based advertising purposes. Using privacy plug-ins or browsers. You can block our websites from setting cookies used for interest-based ads by using a browser with privacy features.
* Platform opt-outs. The following advertising partner offers opt-out features that let you opt-out of use of your information for interest-based advertising - Google: [https://adssettings.google.com.](https://adssettings.google.com/) Advertising industry opt-out tools. You can also use the opt-out options set forth below to limit use of your information for interest-based advertising by participating companies. Note that because these opt-out mechanisms are specific to the device or browser on which they are exercised, you will need to opt out on every browser and device that you use. Digital Advertising Alliance: [http://optout.aboutads.info](http://optout.aboutads.info/) Network Advertising Initiative: .
### Additional Notice to California Residents (“CCPA Notice”)
The California Consumer Privacy Act of 2018 (“CCPA”) requires certain businesses to provide a CCPA Notice to California residents to explain how we collect, use, and share their personal information, and the rights and choices we offer California residents regarding our handling of their information.
* **Privacy Practices.** We do not “sell” personal information as defined under the CCPA. Please review the “Sharing and Disclosure of Information” section above for further details about the categories of parties with whom we share information.
* **Privacy Rights.** The CCPA gives individuals the right to request information about how we have collected, used, and shared your personal information. It also gives you the right to request a copy of any information we may maintain about you. You may also ask us to delete any personal information that we may have received about you. Please note that the CCPA limits these rights, for example, by prohibiting us from providing certain sensitive information in response to access requests and limiting the circumstances under which we must comply with a deletion request. We will respond to requests for information, access, and deletion only to the extent we are able to associate, with a reasonable effort, the information we maintain with the identifying details you provide in your request. If we deny the request, we will communicate the decision to you. You are entitled to exercise the rights described above free from discrimination.
* **Submitting a Request.** You can submit a request for information, access, or deletion to .
* **Identity Verification.** The CCPA requires us to collect and verify the identity of any individual submitting a request to access or delete personal information before providing a substantive response.
* **Authorized Agents.** California residents can designate an “authorized agent” to submit requests on their behalf. We will require the authorized agent to have a written authorization confirming their authority.
**Disclosures for European Union Data Subjects**
We process personal data for the purposes described in the section titled “How We Use Data” above. Our bases for processing your data include: (i) you have given consent to the process to us or our service provides for one or more specific purposes; (ii) processing is necessary for the performance of a contract with you; (iii) processing is necessary for compliance with a legal obligation; and/or (iv) processing is necessary for the purposes of the legitimate interested pursued by us or a third party, and your interests and fundamental rights and freedoms do not override those interests.
Your rights under the General Data Protection Regulations (“GDPR”) include the right to (i) request access and obtain a copy of your personal data, (ii) request rectification or erasure of your personal data, (iii) object to or restrict the processing of your personal data; and (iv) request portability of your personal data. Additionally, you may withdraw your consent to our collection at any time. Nevertheless, we cannot edit or delete information that is stored on a particular blockchain. Information such as your transaction data, blockchain wallet address, and assets held by your address that may be related to the data we collect is beyond our control.
To exercise any of your rights under the GDPR, please contact us at . We may require additional information from you to process your request. Please note that we may retain information as necessary to fulfill the purpose for which it was collected and may continue to do so even after a data subject request in accordance with our legitimate interests, including to comply with our legal obligations, resolves disputes, prevent fraud, and enforce our agreements.
### **Cookies**
Cookies are text files containing small amounts of information which are downloaded to your device when you visit a website. Cookies are then sent back to the originating website on each subsequent visit, or to another website that recognises that cookie. Cookies are useful because they allow a website to recognise a user’s device.
Cookies do lots of different jobs, like letting you navigate between pages efficiently, remembering your preferences, and generally improve the user experience. They can also help to ensure that adverts you see online are more relevant to you and your interests.
For information on the cookies used on August's website, please see our Cookie Policy.
**Contact information**
If you have any questions in relation to this Privacy Policy please contact us at
[
](https://legal-us.openeden.com/esign-policy)
# Cookie Policy
*Last Updated: May 18th, 2023*
### Introduction and Scope of Policy
This Fractal Network Ltd. Cookies Policy (“Policy”) applies to your interaction with Fractal Network Ltd. or any of its subsidiaries or affiliates (“August, previously Fractal” or “we”).
Please read the following carefully to understand our policies and practices regarding the use of cookies on our Platform. By using or accessing our Platform, you agree to this Cookie Policy. This policy may change from time to time and your continued use of the Platform is deemed to be acceptance of such changes, so please check the policy periodically for updates.
### About "Cookies"
Cookies are pieces of data stored on your device. Browser cookies are assigned by a web server to the browser on your device. When you return to a site you have visited before, your browser gives this data back to the server. Mobile applications may also use cookies.
We do not generally use cookies. We do not intentionally collect information to customize your experience on the website or the August user interface (UI) to the August. (“Sites” or “Site”).
Industry standards are currently evolving, and we may not separately respond to or take any action with respect to a “do not track” configuration set in your internet browser. Other parties that may collect information about your web browsing behavior when you use our Site are generally limited to service providers who may only use any information collected to provide services for us and not to provide services or advertising for any other party. Note, however, that we also provide certain widgets or tools on our sites that allow you to interact with third parties who provide these features, such as tools that allow web surfers to easily share information on another platform. At other times, information from a third party may be embedded on our Site, such as a map. These widgets, tools, and informational items often function through the use of third-party cookies utilized by the third party site. As a result, these third parties may have access to information about your web browsing on the pages of our Site where these widgets, tools, or information are placed. You may wish to review information at third party sites, where you have an account, to determine how these third parties treat data that they obtain through the use of cookies.
### Do you have to accept Cookies?
You may be able to set your browser to reject cookies. If you set your browser options to disallow cookies, you may limit the functionality we can provide when you visit our Site. The latest versions of internet browsers provide cookie management tools, such as the ability to delete or reject cookies. We recommend that you refer to information supplied by browser providers for more specific information, including how to use these tools.
### Additional Technologies
We do not typically use additional technologies such as pixel tags, web beacons, and clear GIFs. We may permit third-party service providers to use these technologies. They may use these technologies for purposes such as determining viewing and response rates.
### Using Information
In addition to the uses described above, we may use information for purposes as allowed by law such as: servicing; communicating with you; improving our Site, products, or services; legal compliance; risk control; information security; anti-fraud purposes; tracking website usage, such as number of hits, pages visited, and the length of user sessions in order to evaluate the usefulness of our sites.
### Sharing
We may share information with service providers with whom we work, such as service providers and companies that help us service you better. When permitted or required by law, we may share information with additional third parties for purposes including response to legal process. As applicable, please see our Privacy Policy for more information on how we may share information with affiliates and third parties.
# Loan Product Terms
Standard Terms Governing Loans Originated on the August Platform. Effective for all loans originated through the August platform (augustdigita.io)
### 1. Overview
These Loan Product Terms set forth the standard terms and conditions governing loans of Digital Currency originated through the August platform. Individual loan parameters (size, rate, LTV, recall period, and maturity) are agreed between Lender and Borrower prior to loan origination and confirmed in writing. These terms provide the operational and legal framework within which each loan is administered.
### 2. Loan Terms
Loans originated on the platform may take one of the following structures:
| |
|---|
| Loan Type | Description |
| Open Loan | No maturity date. Borrower has a Prepayment Option and Lender has a Call Option. |
| Fixed Term Loan | Pre-determined maturity date. Borrower does not have a Prepayment Option and Lender does not have a Call Option. |
| Term + Call Option | Pre-determined maturity date with Lender retaining a Call Option to demand repayment at any time. |
| Term + Prepayment | Pre-determined maturity date with Borrower retaining a Prepayment Option to repay early without penalty. |
### 3. Loan Economics
The following economic parameters are agreed between Lender and Borrower in writing prior to each loan origination:
* Loan Size - The principal amount of Digital Currency or U.S. Dollars to be lent
* Loan Fee (Rate) - The financing fee payable by Borrower, accruing daily and payable monthly in arrears
* Initial LTV / Collateral Ratio - The ratio of Loaned Assets to Collateral required at origination
* Margin Call LTV - The threshold at which additional collateral is required
* Recall Period - The timeframe within which Borrower must return Loaned Assets upon a Call Option exercise
* Maturity Date - For term loans, the date upon which the loan becomes due in full
The minimum Loan Fee for any loan is the fee that would accrue for one day. Loan Fees are calculated daily and provided to Borrower via the platform interface.
### 4. Additional Fees
| Fee | |
|---|
| Fee | Terms |
| Origination Fee | May apply to certain loans, payable at the time collateral is delivered. Amount and currency specified per loan. |
| Late Fee | 1% annualized (calculated daily) on all outstanding Loaned Assets and Loan Fees for each calendar day past the repayment date. |
| Early Termination Fee | For Fixed Term Loans and Term Loans with Call Options: 20% of the Loan Fee that would have accrued from repayment date through Maturity Date. Does not apply to Prepayment Option exercises or Lender Call Option exercises. |
| Liquidation Penalty | An additional 2% penalty charge applies in the event of full liquidation of the collateral position. |
All fees are payable in the same currency as the Loaned Assets unless otherwise agreed. Upon an Event of Default, all outstanding fees become immediately due and payable.
### 6. Margin Calls and Liquidations
Lender marks collateral to market daily using the agreed reference price. The margin call and liquidation mechanics operate as follows:
| |
|---|
| Trigger | Action |
| Health Factor < 1.07 | Borrower receives notification and must immediately top up collateral to avoid partial liquidation. |
| Health Factor reaches 1.03 | Partial liquidations begin automatically to restore the position to a Health Factor of 1.1. |
| Full Liquidation | If the position is fully liquidated, an additional 2% penalty charge applies. Failure to provide Additional Collateral may constitute an Event of Default. |
Borrower’s obligations continue regardless of whether Lender has requested Additional Collateral.
### 7. Loan Recall
For Term Loans with a Call Option and Open Loans, Lender may demand repayment of a portion or the entirety of the Loan Balance at any time during Business Hours on any Business Day. Upon exercise of the Call Option:
* Lender notifies Borrower by email of the recall and the Recall Amount.
* Borrower must deliver the Recall Amount by Close of Business on the first Business Day after the Recall Request Day (24-hour callback, unless otherwise agreed).
* Partial recalls are permitted. The remaining portion is due on the earlier of the Maturity Date or a subsequent Recall Delivery Day.
### 8. Events of Default
The following constitute Events of Default:
1. Failure to return Loaned Assets upon loan termination (1 Business Day cure period after notice)
2. Failure to pay Loan Fees, Late Fees, or Early Termination Fees when due (10 day cure period after notice)
3. Failure to transfer Collateral or Additional Collateral as required (10 Business Day cure period after notice)
4. Material default in performance of any obligation under these terms (10 Business Day cure period after notice)
5. Bankruptcy, insolvency, reorganization, or liquidation proceedings (15 day dismissal period for involuntary proceedings)
6. Any material representation or warranty proving incorrect (10 Business Day cure period after notice)
### 9. Remedies upon Default
Upon an Event of Default by Borrower, Lender may, upon written notice:
* Declare the entire Loan Balance immediately due and payable
* Terminate the loan upon notice to Borrower
* Transfer Collateral to satisfy any outstanding obligations, including purchasing replacement Digital Currency
* Set off amounts payable against the Collateral
* Exercise all other rights and remedies available under applicable law, including rights of a secured creditor
Where the cost of replacement Digital Currency exceeds the Collateral, Borrower is liable for the excess plus interest at 10%. All remedies survive termination of the loan and return of Loaned Assets or Collateral.
### 10. Loan Termination
A loan will terminate upon the earliest of:
1. The Maturity Date
2. Repayment of the Loan Balance by Borrower prior to Maturity
3. The occurrence of an Event of Default (subject to Lender’s right to waive)
4. A determination by Lender that the Loaned Assets risk being classified as a security, swap, derivative, or similarly-regulated instrument, or becoming subject to materially impactful regulation
Upon termination, all Loaned Assets must be returned immediately and all outstanding fees become immediately payable. Lender shall return Collateral within five (5) Business Days of receiving repayment.
### 11. Governing Law and Dispute Resolution
These terms are governed by the laws of the British Virgin Islands. Any dispute arising out of or relating to a loan shall be administered by JAMS under the JAMS Streamlined Arbitration Rules & Procedures. One arbitrator shall be chosen by JAMS, costs are shared equally, and proceedings may continue in the absence of any party with proper notice.
### 12. Confidentiality
All information exchanged in connection with a loan is confidential. Each party shall restrict access to its representatives on a need-to-know basis. Confidentiality obligations survive for three (3) years from the date of the applicable agreement, subject to standard exceptions for public information, prior possession, independent development, and legally compelled disclosure.
