BitLease Technologies Ltd. A subsidiary of 49G Holding Incorporated in Abu Dhabi Global Market (ADGM), Registered Address: Unit PC-1, Level 7, Al Maryah Tower, Abu Dhabi Global Market Square, Abu Dhabi, Al Maryah Island, United Arab Emirates
ADGM Registration No.: 34619
Document: OWN Power Framework — One stake, two functions — a return and the capacity to own.
Classification: BitLease Technologies Ltd. · ADGM, Abu Dhabi, UAE
OWN Power is a utility of OWN, the BitLease Utility Token, within the BitLease platform. It lets a single eligible staked OWN position do two things at once: participate in the BitLease Earn program and create risk-adjusted platform capacity.
That capacity can be used, where approved, to reduce or replace selected contract requirements (the Down Payment and the HyperHedge Fee) up to the amount available. It does not, however, automatically guarantee a zero Down Payment or zero HyperHedge Fee for every contract regardless of size; the extent of any replacement depends on the available capacity and the contract's requirements, together with product eligibility and jurisdiction.
Any return associated with the staked OWN is governed exclusively by the BitLease Earn documentation and arises from participation in the Earn program. OWN Power does not create yield from merely holding OWN, and does not constitute a loan, credit facility, margin facility, investment product, or transferable claim against BitLease.
A user stakes OWN into the BitLease Earn program. Once accepted, the stake takes on two simultaneous functions:
These are two views of a single stake, not two separate uses of it: the stake is not multiplied, lent out, or double-counted.
Capacity is created by applying a HyperHedge haircut to the dollar-equivalent value of the staked OWN. It may be used only within the platform and only for eligible products. Where a user's available capacity is sufficient to cover a contract's Down Payment and HyperHedge Fee, both are fully replaced; where it is less than required, it reduces them up to the amount available.
Capacity is an internal, non-transferable, non-cash operational allowance created from an approved staked OWN position after the HyperHedge haircut is applied. It:
Capacity is expressed in dollar-equivalent terms for operational purposes only. It equals the dollar-equivalent value of the staked OWN after the haircut and substitutes on a dollar-for-dollar basis for the value it replaces.
Capacity is divisible: it may be applied across more than one eligible contract, provided the same unit is never used for two active obligations at once. For example, a user with $50,000 of capacity might apply $10,000 to one contract and $40,000 to another; the total applied never exceeds the capacity available. As contracts close and obligations are discharged, the corresponding capacity becomes available again.
In a standard Lease-to-Own contract, the user provides a Down Payment and pays a HyperHedge Fee: the Down Payment provides commitment and risk protection, and the HyperHedge Fee funds the coverage that absorbs any residual shortfall. Under OWN Power, the user's own staked OWN takes on that role, so, up to the available capacity, the contract requires no Down Payment and no HyperHedge Fee.
The Finance Fee continues to apply because financing is a separate function from downside coverage. OWN Power stands in for the Down Payment and the HyperHedge Fee, whose role its backing assumes; it does not replace the capital that finances the contract.
The haircut is the risk adjustment applied to the dollar-equivalent value of the staked OWN to determine how much capacity the stake produces. It is set by HyperHedge and is variable, reflecting parameters such as OWN price volatility and liquidity, asset risk, contract size and tenor, user risk profile, concentration risk, and the platform's liquidity, solvency, treasury, and jurisdictional requirements.
The haircut is itself the volatility buffer of the position. Because capacity is only a portion of the staked value, the margin between the two is what absorbs movements in the OWN price. As a result, an OWN Power position does not trigger a margin call and is not liquidated on a price move; the buffer is priced in at the outset.
The applicable haircut and its terms are presented to the user before subscription; by subscribing, the user accepts them for that stake. Capacity is then treated according to its state:
OWN Power does not multiply, leverage, lend against, or rehypothecate the staked OWN; capacity is only a risk-adjusted allowance drawn from the staked value after the haircut.
A user cannot apply the same unit of capacity to more than one active obligation at the same time. Capacity locked to an active contract is unavailable for other contracts until that obligation is discharged, released, cancelled, or otherwise resolved.
Where a contract is backed by OWN Power, the relevant portion of the user's staked OWN (up to the capacity applied) is locked as security for the obligation. While the contract is active, that OWN cannot be unstaked, withdrawn, transferred, or used to back another obligation, except as the applicable terms permit.
The leased asset remains the primary recovery source, exactly as in a standard Lease-to-Own contract; the locked OWN position stands behind it as additional security, in place of the HyperHedge Fee.
Any return accrued through the Earn program belongs to the user. It is not part of the security, is not pledged, and is not applied in recovery; only the principal staked OWN, up to the capacity applied, secures the obligation.
If a user defaults on an OWN Power-backed contract, recovery follows the applicable Product Framework and contract terms. First, the outstanding obligation is recovered from the leased asset, as in any Lease-to-Own contract. Second, any residual shortfall (the portion the HyperHedge Fee would have covered in a standard contract) is met from the locked OWN position, up to the amount required and the capacity applied, through an internal, non-transferable set-off against the obligation rather than a market sale of the user's OWN.
OWN Power thus occupies the same place in the recovery order that HyperHedge coverage occupies in a standard contract, which is why no HyperHedge Fee is charged.
The user is non-recourse. If a residual shortfall exceeds the recoverable value of the locked OWN position, the remaining amount is borne by the HyperHedge Pool, exactly as in a standard contract. The user never has a negative balance and bears no liability beyond the leased asset and the locked position, and the Earn return remains the user's throughout.
Capacity is available only during the term of the underlying stake and while the user remains eligible. While any capacity is locked to an active contract, the corresponding staked OWN cannot be unstaked, withdrawn, or transferred until the backed obligation is discharged. Once no active contract relies on it, the stake may be unstaked under the Earn program terms, subject to any applicable lock-up, notice period, or compliance review.
BitLease may delay or restrict unstaking where required by active obligations, pending settlement, compliance or fraud review, dispute, legal hold, sanctions concerns, or platform risk and treasury limits.
OWN Power benefits are subject to risk controls and are not guaranteed solely by staking OWN. BitLease may decline, reduce, cap, suspend, or delay the use of capacity where required by risk, concentration, market, liquidity, solvency, treasury, partner-facility, jurisdictional, compliance, or abuse-prevention considerations or internal policy. No OWN Power benefit may override BitLease's legal, compliance, risk, solvency, liquidity, treasury, jurisdictional, or partner controls.
OWN Power is a utility feature within the BitLease platform. It is not a loan, credit facility, margin facility, derivative, guarantee to the user, deposit product, investment product, or transferable claim against BitLease. Capacity is an internal operational allowance with no cash value that cannot be withdrawn, transferred, sold, pledged outside BitLease, or used elsewhere.
Any return associated with the staked OWN is governed by the BitLease Earn documentation and arises from participation in the Earn program; OWN Power provides no yield, interest, dividend, revenue share, or investment return from merely holding OWN, and no expectation of profit.
OWN Power may reduce or replace selected contract requirements only where approved and only up to the available capacity; it does not automatically guarantee a zero Down Payment, a zero HyperHedge Fee, product or contract approval, or continued availability. BitLease may modify, restrict, suspend, or terminate OWN Power features where required for legal, regulatory, compliance, risk, solvency, liquidity, treasury, partner, security, operational, or abuse prevention reasons.
The Earn return and Earn program mechanics are governed by the BitLease Earn documentation. The haircut methodology, risk parameters, and residual-shortfall coverage are governed by the HyperHedge Framework. Contract mechanic, Down Payment, Finance Fee, leased-asset treatment, default, and recovery, are governed by the applicable Product Frameworks and contract documents. Where this Framework and another product or program document address the same operational mechanic, the more specific document governs the detail.