Segregation & Bankruptcy-Remote Structure Disclosure

This schedule forms part of the Product Documentation. It describes Evolve’s intended segregation framework for the eUSD Series and how Series assets and liabilities are attributed and ring-fenced.

Purpose and scope

• describes designated Series wallets/accounts and how Series assets/liabilities are attributed
• describes the Series Waterfall and limits of recourse
• token-specific mechanics (valuation, fees, redemption windows, eligible assets) are set out in the eUSD Token Terms

Ring-fencing model

• eUSD is intended to operate as an independent, ring-fenced product sleeve
• no intentional cross-collateralisation with other Series
• segregation from Evolve operating assets

Series wallets/accounts architecture

Evolve designates one or more Series wallets/accounts for eUSD, typically:

• deposit address(es)
• collateral/holding wallet(s)
• execution/deployment wallet(s) (if applicable)
• redemption/payout wallet(s)

Tokenholders must route funds only to designated Series wallets/accounts.

Attribution of Series assets and liabilities

• Series Assets include subscriptions, deployed positions, proceeds, recoveries, and Series-attributable rights/receivables (and incentives if specified)
• Series Liabilities include redemption obligations, Series costs/expenses, Series fees, and other liabilities expressly allocated under Product Documentation

Technical execution exceptions

In limited cases, technical routing/batching may require transient movements that do not reflect economic commingling; Evolve maintains traceable books and restores allocations promptly.