Issued by OWN Token Foundation · Cayman Islands
Document: OWN Token Terms & Conditions — The binding terms governing the acquisition, holding, and use of OWN.
These Terms and Conditions (the “Terms”) govern the acquisition, holding, and use of OWN, the BitLease Utility Token (the “Token” or “OWN”), issued by OWN Token Foundation, an entity established in the Cayman Islands (the “Issuer,” “we,” or “us”). They form a binding agreement between the Issuer and any person who acquires, holds, or uses OWN (the “User,” “you,” or “holder”).
These Terms become contractually binding when you expressly accept them through the BitLease platform or use a utility that requires such acceptance. Mere receipt or passive holding of OWN outside the BitLease platform does not, by itself, establish contractual acceptance, although the disclosures and technical notices in these Terms remain relevant to the Token. If you do not agree, you must not acquire, hold, or use OWN through the platform.
These Terms apply to the Token itself. They do not replace or modify the terms of any Lease-to-Own contract, the BitLease platform terms of service, the BitLease custody and asset-holding policy, or any other agreement, each of which applies separately.
Issuer — OWN Token Foundation, the issuer of OWN.
Platform Operator — BitLease Technology Company, incorporated in England and Wales, Company No. 17324619, which operates the BitLease Platform, provides the user interface and platform services, and contracts Lease-to-Own with users.
BitLease — the Issuer, the Platform Operator, and their affiliates, as applicable to the relevant function.
BitLease Platform — the digital platform through which OWN and its utilities are made available.
Lease-to-Own (LTO) — the contract-based method by which a user acquires an asset, or OWN, over time through installments.
OWN Access Plan — the continuous platform program through which eligible users may acquire OWN on a Lease-to-Own basis.
Evergreen — the internal operational treasury that distributes and recycles OWN, defined in the Evergreen Framework.
Utilities — the platform functions associated with OWN, described in the OWN Token Framework.
Governing Documents — the OWN Token Framework, OWN Economic Model, Evergreen Framework, OWN Access Plan — Product Terms, and related documents, together with the Schedules to these Terms.
Custody, payment processing, Lease-to-Own contracting, and other services may be provided by separate entities identified in the applicable Product Terms or Schedules. No entity assumes the obligations of another unless expressly stated.
OWN is designed and intended to function as a utility token for use within the BitLease ecosystem. It is not offered as, and is not intended to constitute, a security, share, bond, debenture, deposit, e-money instrument, derivative, unit or interest in a collective investment scheme, or any other regulated financial product, and it confers no equity, ownership, debt, dividend, interest, revenue share, governance right, or claim over the assets or revenue of any BitLease entity.
The legal or regulatory classification of OWN may nevertheless vary by jurisdiction and may change over time. Nothing in these Terms limits the application of mandatory law or the powers of any competent authority. You acknowledge that you acquire OWN for its utility within the BitLease platform and not as an investment or with any expectation of profit.
OWN is not offered where its offer, acquisition, holding, or use would be unlawful or would require a registration, license, or authorization that is not in place. Access may be restricted for persons in, or resident or established in, certain jurisdictions and for restricted or sanctioned persons, as set out in the Restricted Jurisdictions and Compliance Notice (Schedule) and applicable platform policy. You are responsible for ensuring that your acquisition and use of OWN are lawful in your jurisdiction.
To acquire OWN through the BitLease platform, you must be of legal age and full capacity in your jurisdiction and not be a person barred under any applicable law, sanctions regime, or platform policy.
We may conduct initial and ongoing identity verification (KYC), sanctions and politically exposed person screening, source-of-funds or source-of-wealth checks, blockchain analytics, transaction monitoring, Travel Rule information exchange, enhanced due diligence, and legally required reporting. We may request additional information at any time and may delay, reject, or restrict a transaction until checks are completed. Any delay, rejection, restriction, or reversal applies only to transactions or balances within the operational or legal control of the relevant BitLease entity or its service provider; finalized on-chain transfers cannot be reversed except to the extent supported by the deployed token contract and disclosed in the Token Technical Disclosure. OWN is not offered where its offer or use would be unlawful.
You may come to hold OWN through several routes, each subject to eligibility, availability, jurisdiction, and platform policy: through the OWN Access Plan on a Lease-to-Own basis; through in-platform conversion or standard Lease-to-Own at the applicable rate; as ecosystem rewards; as fee rebates; or, once a secondary market exists, on that market.
The initial platform offering price of $10 per OWN is a commercial distribution parameter for the initial distribution. It is not a guarantee, floor, peg, redemption value, stabilization mechanism, or representation of secondary-market value. Any secondary-market price is determined by the market, is outside the issuer's control, and may differ materially from the platform offering price.
The utilities associated with OWN are described in the OWN Token Framework and related Governing Documents, are made available within the BitLease platform, and depend on the platform remaining active. Program-specific benefits are governed by their own Product Terms.
The Issuer and BitLease may modify, add, reduce, suspend, cap, or withdraw any utility and may change its commercial parameters prospectively where required for legal, regulatory, compliance, risk, solvency, liquidity, treasury, partner, security, or operational reasons. A change will not reduce a utility already irrevocably applied to a completed transaction. Where a material adverse change affects an active fixed-term program, the Issuer will, where legally and operationally practicable, preserve the existing terms for the remainder of the term, offer a reasonably equivalent alternative, or permit withdrawal under the applicable Product Terms. No utility is guaranteed to operate continuously or indefinitely, and the availability of a utility creates no entitlement, expectation of profit, or claim against the Issuer or BitLease.
OWN confers no yield, interest, dividend, revenue share, or profit from merely holding it. Participation-based benefits, if any, are available only under separate Product Terms that identify the required activity, eligibility, source and calculation of the benefit, lock-up, risks, and termination rights. No benefit is earned merely by holding OWN, and no program constitutes a promise of yield or capital appreciation.
Nothing in these Terms, the Governing Documents, or any BitLease communication should be read as a promise, projection, or guarantee of any financial return, price, liquidity, or market outcome.
Where OWN is acquired or used in connection with a Lease-to-Own contract, the Token and the contract remain separate. OWN does not alter, secure, guarantee, or affect any Lease-to-Own contract's obligations, installments, ownership terms, or outcomes, and the price or availability of OWN has no bearing on any such contract.
Amounts paid under a Lease-to-Own contract are contract payments governed by that contract, not deposits with or investments in the issuer, Evergreen, or BitLease.
OWN is a standard ERC-20 token on Ethereum. Within the BitLease platform, OWN is held in the wallets described in the platform documentation, and certain OWN, such as amounts committed under a contract, or committed to a program under its separate Product Terms, may be locked or non-transferable for the duration of the relevant commitment. Any such program is governed by its own Product Terms and creates no guaranteed yield.
The Issuer has no obligation to seek or maintain any exchange listing, market maker, trading venue, or liquidity arrangement. Transfers may be restricted by law, sanctions controls, contractual lock-up, technical controls, or the rules of a third-party venue, and a recipient may be unable to use platform utilities until completing eligibility and compliance checks. You are responsible for the security of any self-custodied wallet and private keys; the Issuer and BitLease are not responsible for loss resulting from your failure to secure them, your error, or the properties of the public blockchain.
Where OWN is held for you within the BitLease platform, it is held under the general BitLease custody and asset-holding policy that applies to platform-held assets, not under a token-specific arrangement. Platform-held OWN is recorded in customer-specific sub-ledgers and reconciled against on-chain or custodian balances periodically. That policy states whether customer assets are legally segregated, how they are treated in an insolvency, whether sub-custodians are used, and whether any lending, staking, pledging, or rehypothecation is permitted. OWN held outside the platform in a self-custodied wallet is your sole responsibility.
The official token contract address, Ethereum network identifier, decimals, supply controls, mint and burn permissions, administrative permissions, upgradeability status, audit information, and material smart contract risks are set out in the Token Technical Disclosure [see Schedule 1]. Tokens using the OWN name or symbol at any other address are not issued or endorsed by the issuer. You should verify the official contract address from the issuer's official channels before transacting.
You are solely responsible for determining, reporting, and paying any tax arising from your acquisition, holding, use, or disposal of OWN and for any network or gas costs of on-chain transactions. The Issuer and BitLease give no tax advice and make no representation as to the tax treatment of OWN in any jurisdiction.
You must not use OWN or the BitLease platform for any unlawful purpose, including money laundering, terrorist financing, sanctions evasion, fraud, or market abuse; nor to circumvent eligibility, KYC, AML, or jurisdictional controls; nor in any manner that manipulates the market for OWN or interferes with the platform's operation or security. We may take any action required to prevent or address prohibited use.
We may restrict access to a Platform account or to OWN held through Platform-controlled custody where reasonably necessary for fraud prevention, security, sanctions or AML compliance, legal or regulatory requirements, court or authority orders, preservation of a dispute, or investigation of a breach.
Any on-chain restriction, such as a pause, blocklisting, recovery, or administrative transfer, is possible only to the extent supported by the deployed token contract and disclosed in the Token Technical Disclosure. A restriction on a platform account is distinct from any on-chain control. Except where prohibited by law, an affected User will receive notice of the basis (by category), the review process, and any available appeal or remediation channel.
You acknowledge and accept that acquiring, holding, and using OWN involves risks, including but not limited to the following: price volatility and possible total loss of value; the absence of any guaranteed price, liquidity, or market; dependence of the Token's utility on the continued operation of the BitLease platform; regulatory change that may affect OWN or its utilities; technology, smart-contract, custody, and cybersecurity risks; risks of forks, airdrops, chain migration, unsupported networks, and mistaken transfers; and the risk that utilities may be modified, suspended, or withdrawn. The full risk disclosure is set out in the OWN Risk Disclosure, which you should read.
Nothing provided by the Issuer or BitLease including the Governing Documents, platform content, or any communication, constitutes financial, investment, legal, tax, or other advice or a recommendation or solicitation to acquire, hold, or dispose of OWN. You are responsible for your own decisions and should seek independent professional advice where appropriate.
To the fullest extent permitted by law, OWN and the utilities are provided on an “as is” and “as available” basis, without warranty of any kind, whether express or implied, including as to merchantability, fitness for a particular purpose, availability, or non-infringement. The Issuer and BitLease do not warrant that the platform, the Token, or any utility will be uninterrupted, error-free, or secure, or that any price, liquidity, or market will exist or be maintained.
To the fullest extent permitted by law, neither the Issuer nor BitLease, nor their affiliates, officers, or agents, will be liable for any indirect, incidental, special, consequential, or punitive damages, or for any loss of profit, value, opportunity, or data, arising from or relating to OWN, the utilities, or these Terms, whether in contract, tort, or otherwise, even if advised of the possibility.
Subject to liabilities that cannot lawfully be limited, the aggregate liability of each liable BitLease entity arising out of or in connection with these Terms shall not exceed the greater of (a) the fees paid by the User to that entity in the twelve months preceding the event giving rise to the claim and (b) USD [amount to be confirmed by legal counsel]. This limitation does not apply to fraud, willful misconduct, gross negligence, breach of confidentiality, or liability arising from unauthorized use of customer assets. Nothing in these Terms excludes any liability that cannot be excluded under applicable law, including mandatory consumer rights.
You agree to indemnify and hold harmless the Issuer, BitLease, and their affiliates from any direct and reasonably foreseeable claim, loss, liability, or expense (including reasonable legal fees) attributable to your breach of these Terms, your misuse of OWN or the platform, or your violation of any law or third-party right.
We may amend these Terms from time to time. Material changes take effect prospectively, with reasonable notice by an appropriate means, except where an immediate change is required for legal, regulatory, risk, security, or operational reasons. The version applicable to a transaction is the version presented to and accepted by you at the relevant time; archived versions remain accessible for at least 6 years. Your continued acquisition, holding, or use of OWN after changes take effect constitutes acceptance of the amended Terms.
These Terms incorporate the Governing Documents by reference. In the event of conflict, the following order prevails, unless a document expressly states otherwise: (1) mandatory law; (2) the applicable Product Terms; (3) these Terms; and (4) the other Governing Documents.
These Terms are governed by the laws of the Cayman Islands, without regard to conflict-of-laws principles.
Before commencing proceedings, a claimant must give written notice describing the dispute, and the remedy sought, and the parties will attempt in good faith to resolve it for 30 days. Any unresolved dispute shall be finally resolved by arbitration seated in the Cayman Islands, in the English language, by one arbitrator under the Cayman Islands International Arbitration Centre, under the CIAC Arbitration Rules, on an individual (non-class) basis. Either party may seek urgent interim or injunctive relief from a court of competent jurisdiction. Mandatory consumer rights, and any claim eligible for a designated small-claims process, are not waived.
Legal notices, complaints, and dispute notices must be sent to legal@bitlease.com and the registered address of OWN Token Foundation, Cayman Islands. We may give notices through the platform, by email, or by publication in the designated legal-notices section, and a notice is deemed received in accordance with the method and timing specified in the platform's terms.
Personal data collected for KYC, AML, sanctions screening, transaction monitoring, Travel Rule compliance, fraud prevention, and regulatory reporting is processed in accordance with the BitLease Privacy Notice, including its provisions on retention, international transfers, service providers, and data-subject rights.
If any provision of these Terms is held invalid or unenforceable, the remaining provisions continue in full force. Our failure to enforce any provision is not a waiver of it. You may not assign your rights or obligations without our consent; we may assign ours to an affiliate or successor. Sections addressing taxes, disclaimers, liability, indemnity, dispute resolution, and records survive termination. We are not liable for failure or delay caused by events beyond our reasonable control. These Terms, together with the Governing Documents and Schedules referenced in them, constitute the entire agreement between you and the Issuer regarding OWN. These Terms are drawn up in English; any translation is for convenience only, and the English version prevails, including at the point of acceptance.
The following schedules form part of these Terms and are to be provided and maintained by BitLease:
Custody of platform-held OWN is governed by the general BitLease custody and asset-holding policy.