Terms of Use — DePIX
Eulen
Last updated: 04/13/2026
1. Definitions and Interpretation
In these Terms, unless otherwise indicated, the following words have the meanings set forth below:
| Affiliate | In relation to a Person, any direct or indirect subsidiary, holding company, or entity under common control. |
| Digital Assets | A digital representation of value that functions as a medium of exchange, unit of account, or store of value, including DePIX. |
| DePIX | A digital token issued by the Issuer whose purpose is to reflect the value of one unit of Brazilian Real (BRL). DePIX is backed by Reserves maintained by the Issuer. |
| Issuer | Eulen, responsible for the issuance, management, and redemption of DePIX, as well as its Affiliates where applicable. |
| Fiat | Legal tender of any country or jurisdiction, designated as such by law and accepted as a medium of exchange in the respective jurisdiction. |
| Government | Any national, federal, state, municipal, or foreign government, including any agency, authority, court, commission, or regulatory body. |
| Prohibited Jurisdiction | Cuba, the Democratic People's Republic of Korea (North Korea), Iran, Syria, Crimea, Donetsk, Luhansk, and any other jurisdiction designated by the Issuer or in which access to the Services is prohibited by Applicable Law. |
| Applicable Law | All laws, statutes, regulations, rules, treaties, and official obligations of any Government applicable to the Parties or to the Services. |
| Sanctions Lists | The "Specially Designated Nationals and Blocked Persons" (SDN) lists published by OFAC; the consolidated sanctions lists of the UN; the restrictive lists of the EU; and any other applicable sanctions lists. |
| Losses | Collectively, any claim, loss, damage, cost, expense, liability, fine, penalty, lawsuit, or any other harm, direct or indirect. |
| Node Operators | Independent entities — such as exchanges and digital asset operators — that operate a Node within the DePIX ecosystem to connect End Users to DePIX functionality through their own applications, subject to these Terms and applicable compliance requirements. |
| Person | Includes a natural person, association, partnership, company, trust, fund, government, or any other entity. |
| Prohibited Person | Any Sanctioned Person; any Person resident or domiciled in the United States of America, its territories, or possessions; any Person resident or domiciled in a Prohibited Jurisdiction; any government or government official of a Prohibited Jurisdiction; any Person prohibited by Applicable Law from holding or transacting Digital Assets; and any person under 18 years of age. |
| Sanctioned Person | Any Person or Digital Asset address that: (i) is listed on any Sanctions List; (ii) is directly or indirectly owned 50% or more by a Person listed on any Sanctions List; or (iii) is subject to penalties under Applicable Law relating to Economic Sanctions, AML, or CFT. |
| Reserves | The assets maintained by the Issuer for the purpose of backing the value of DePIX in circulation, the composition of which is determined by the Issuer and may include bank deposits, cash equivalents, and other liquid assets. |
| Economic Sanctions | Financial sanctions, trade embargoes, export and import controls, and restrictive measures imposed by any Government. |
| Services | Issuance, transfer, redemption, and related services offered by the Issuer in connection with DePIX. |
| Terms | These Terms of Use, as updated from time to time, including the Risk Disclosure and Privacy and Data Protection Policy incorporated by reference. |
| End User | Any Person who acquires, holds, transfers, or redeems DePIX. |
2. Nature of the Token
2.1. DePIX is a payment token whose purpose is to reflect the value of one unit of Brazilian Real (BRL). DePIX does not constitute a bank deposit, security, investment contract, investment fund, credit instrument, legal tender, or any regulated financial instrument.
2.2. DePIX does not generate interest, yields, dividends, or any form of remuneration to the End User.
2.3. DePIX is not guaranteed by any deposit insurance fund, central bank, or state insurance mechanism of any jurisdiction.
2.4. Backing and Reserves. The Issuer maintains Reserves for the purpose of fully backing the value of DePIX in circulation. The composition of Reserves may include bank deposits, cash equivalents, and other liquid assets, and may be changed by the Issuer at any time, provided that the total value remains sufficient to back DePIX in circulation. Information about the Reserves is made available periodically through the Issuer's official channels.
2.5. Issuance and Burn. The issuance and burn of DePIX are carried out directly with the Issuer, subject to these Terms, compliance checks, and operational availability. The Issuer may delay burns when such delay is necessary due to illiquidity, unavailability, or loss of any Reserves. The Issuer may also effect burns through redemption by delivery of assets comprising the Reserves instead of Fiat. The Issuer does not guarantee that burns will be processed within a specific timeframe.
2.6. Blockchain Support. DePIX is issued on Blockchain. The Issuer has no obligation to support, or maintain support for, any blockchain, protocol, or version resulting from a fork. The decision to support or discontinue support for a given blockchain or protocol is at the Issuer's discretion, subject to these Terms. The Issuer assumes no liability for Losses arising from forks, "wrapped" or "bridged" tokens created by third parties, or the discontinuation of support for any blockchain.
3. Right of Use and Restrictions
3.1. By acquiring, holding, or transferring DePIX, the End User declares that they have read, understood, and fully accepted these Terms.
3.2. The End User declares that they are over 18 years of age, have full legal capacity, and are not a Prohibited Person.
3.3. The Issuer may, subject to these Terms and applicable law, refuse, suspend, or terminate any End User's access to the Services when necessary for compliance with Applicable Law, protection of the integrity of the Services, or for compliance reasons.
3.4. Territorial and eligibility restrictions. Without prejudice to other restrictions, the Services are not available to: (i) Persons resident or domiciled in the United States of America, its territories, or possessions; (ii) Persons resident or domiciled in a Prohibited Jurisdiction; (iii) governments or government officials of Prohibited Jurisdictions; and (iv) any Sanctioned Person. The Issuer may expand this list at any time.
3.5. The End User is responsible for ensuring that access to and use of the Services comply with Applicable Law in their jurisdiction.
3.6. Access to or use of the Services is void where such access or use is prohibited by Applicable Law or by determination of the Issuer.
4. Prohibited Uses
The End User may not use DePIX for:
4.1. Money laundering or concealment of assets, rights, and values derived from criminal offenses.
4.2. Terrorist financing.
4.3. Tax evasion or tax fraud in any jurisdiction.
4.4. Purchase, transfer, or custody with illegally obtained funds.
4.5. Circumventing national or international economic sanctions (UN, OFAC, EU).
4.6. Interfering with, subverting, or manipulating the operation of the protocol, network, or Issuer's systems.
4.7. Providing false, misleading, or incomplete information to the Issuer.
4.8. Operating on behalf of or for the benefit of a Prohibited Person.
4.9. Promoting, facilitating, or inducing third parties to violate these Terms.
4.10. Falsifying account, registration, or any information provided to the Issuer.
4.11. Omitting relevant information in due diligence or identity verification processes.
4.12. Maintaining more than one account or wallet registered with the Issuer without prior authorization.
4.13. Accessing the Services from a jurisdiction prohibited by the Issuer.
4.14. Engaging in any conduct that is detrimental to the Issuer, the Services, or other End Users.
4.15. Promoting discrimination of any kind through the Services.
4.16. Promoting DePIX as a tool for anonymity, surveillance evasion, unmonitored transactions, or protection against financial traceability.
5. Cooperation with Authorities and Law Enforcement
5.1. The Issuer complies with Applicable Law and cooperates with competent authorities in any relevant jurisdiction.
5.2. The Issuer will comply with court orders, warrants, official requests, and subpoenas from competent authorities, providing the data and records required within the scope of the request.
5.3. When required by Applicable Law, the Issuer will report suspicious transactions to the competent authorities.
5.4. Types of information available to authorities: identification data collected in the KYC process, transaction records (including blockchain addresses, timestamps, and values), and access and communication records.
5.5. Requirements for requests: requests from authorities must be submitted through a valid legal instrument (court order, warrant, official request, or subpoena) to: compliance@eulen.app
5.6. The Issuer will review each request to verify a valid legal basis and will respond proportionally to the scope of the request.
6. Due Diligence, AML, and CFT
6.1. The Issuer and Node Operators may require identity verification (KYC), anti-money laundering (AML), and counter-terrorist financing (CFT) procedures at any time, as required by Applicable Law or identified risk criteria.
6.2. The End User commits to providing truthful, complete, and up-to-date information when requested.
6.3. Refusal or inability to provide information may result in blocking, suspension, or termination of access, as well as freezing of tokens.
6.4. The Issuer may apply enhanced due diligence (EDD) procedures to any End User when required by Applicable Law, identified risk criteria, or at the request of a competent authority.
7. End User Representations and Warranties
By using the Services, the End User represents and warrants that:
7.1. They have read, understood, and fully accepted these Terms and the Risk Disclosure.
7.2. They are over 18 years of age and have full legal capacity.
7.3. They are not a Prohibited Person and do not operate on behalf of or for the benefit of a Prohibited Person.
7.4. They do not reside in a jurisdiction prohibited by the Issuer.
7.5. They have sufficient knowledge of digital assets and blockchain to understand the risks involved.
7.6. They do not rely on any expectation of profit, yield, appreciation, or exact parity maintenance when acquiring DePIX.
7.7. They have the financial capacity to absorb the total loss of the amounts used to acquire DePIX.
7.8. The funds used to acquire DePIX are of lawful and verifiable origin.
7.9. They comply with all applicable laws and regulations in their jurisdiction, including tax obligations.
7.10. They will not use DePIX for any of the Prohibited Uses described in Section 4.
7.11. They will provide truthful, complete, and up-to-date information in any verification process.
7.12. They are solely responsible for the secure custody of their private keys and access credentials.
7.13. They understand that sending errors (incorrect address, incorrect network) are irreversible and may result in total loss of tokens.
7.14. They acknowledge that DePIX does not constitute protection against garnishments, judicial freezes, or enforcement measures in any jurisdiction.
7.15. They will not promote DePIX as a tool for anonymity or evasion of financial surveillance.
7.16. They are not, nor are they owned or controlled by, a Sanctioned Person, and they do not reside, are not domiciled, or operate from a Prohibited Jurisdiction.
7.17. They consent to the collection and sharing of tax information as required by Applicable Law, including automatic exchange of information agreements between jurisdictions.
7.18. They will promptly inform the Issuer if any of the representations contained in this Section 7 ceases to be true or if they become aware of a material change in their status.
7.19. They acknowledge that transactions in Digital Assets initiated with their credentials or private keys are considered irrevocable and their sole responsibility.
7.20. They acknowledge that the Issuer may effect the redemption of DePIX through delivery of assets comprising the Reserves, as set forth in Section 2.5.
8. Absence of Issuer Warranties
8.1. DePIX and the Services are provided on an "as is" and "as available" basis, without warranties of any kind, express or implied.
8.2. The Issuer does not guarantee:
- That the Services will be uninterrupted, error-free, or secure;
- That DePIX will maintain exact parity with the reference value in any markets;
- That redemption will be processed within a specific timeframe;
- The compatibility of DePIX with any third-party software, hardware, or service;
- The suitability of DePIX for any specific purpose.
8.3. The Issuer does not provide legal, financial, tax, or investment advice. No information provided by the Issuer, its representatives, or its communication channels constitutes advice of any kind.
9. Limitation of Liability
9.1. The Issuer shall not be liable for:
- Losses arising from value fluctuations in the secondary market;
- Failures, interruptions, or unavailability of the Liquid Network or any blockchain;
- Sending errors by the End User (incorrect address, incorrect network);
- Acts of third parties, including hackers, scams, fraud, or social engineering;
- Regulatory changes that impact the operation of DePIX;
- Court decisions resulting in token freezes;
- Acts, omissions, fraud, or insolvency of Node Operators;
- Operational failures, blocks, or interventions in regulated counterparties;
- Loss of private keys or credentials by the End User;
- Taxation applicable to the End User in any jurisdiction;
- Unavailability of liquidity for redemption at specific times;
- Consequences of fortuitous events or force majeure;
- Indirect, incidental, consequential, punitive, or special damages;
- Losses arising from compliance with court orders or regulatory determinations;
- Actions taken by the Issuer in accordance with these Terms.
9.2. The Issuer's total liability, under any circumstances, shall be limited to the value of DePIX actually held by the End User and backed by the Reserves on the date of the event.
10. Suspension and Termination
10.1. The Issuer may, subject to these Terms and applicable law, suspend or terminate the issuance, circulation, or redemption of DePIX, in whole or in part, upon reasonable prior notice. In cases of regulatory requirements, court orders, or imminent risk to the integrity of the Services, suspension may occur with notice to the End User when practicable, or without prior notice when circumstances so require.
10.2. In the event of termination, the Issuer will use reasonable efforts to allow the redemption of DePIX in circulation at the value of the Reserves. The End User's obligations under these Terms shall remain applicable as appropriate.
11. Force Majeure
11.1. The Issuer shall not be liable for delays or failures in the performance of its obligations when caused by events beyond its reasonable control, including: natural disasters, wars, acts of terrorism, pandemics, telecommunications infrastructure failures, cyberattacks, legislative or regulatory changes, government actions, banking failures, collapse or significant fluctuation in the Digital Asset market, strikes, and interruptions of essential third-party services. In the event of Force Majeure, the Issuer's performance obligations under these Terms shall be suspended for the period during which the event persists.
12. Intellectual Property
12.1. The "DePIX" brand, logo, and all associated content are the exclusive property of the Issuer.
12.2. No intellectual property rights are transferred to the End User by the acquisition or use of DePIX.
13. Assignment and Third-Party Rights
13.1. The Issuer may assign or transfer its rights and obligations under these Terms to any entity within the same economic group or to a third party, upon notice published through official channels.
13.2. The End User may not assign their rights under these Terms without the Issuer's prior consent.
13.3. These Terms do not confer rights upon third parties.
14. Sharing of Personal Information
14.1. By accepting these Terms, the End User authorizes the Issuer to share their personal information with Node Operators, regulated counterparties, competent authorities, and service providers, as necessary for the provision of Services and compliance with legal and regulatory obligations. Full details regarding data processing are set forth in the Issuer's Privacy and Data Protection Policy.
15. Communications and Notices
15.1. Any communication, notice, or notification between the Parties regarding these Terms shall be made by: (i) publication on the Issuer's official channels (website, support channels, or applications); (ii) electronic contact to the address provided by the End User during registration; or (iii) correspondence delivered to the registered address.
15.2. Notices published on the Issuer's official channels are deemed delivered at the time of publication.
15.3. The End User is responsible for keeping their contact information up to date and regularly checking the Issuer's official channels for relevant communications.
16. General Provisions
16.1. The invalidity of any clause does not affect the validity of the remaining clauses (severability clause).
16.2. The Issuer's failure to exercise any right does not constitute a waiver.
16.3. Entirety. These Terms, together with the Risk Disclosure and the Privacy and Data Protection Policy, constitute the entire agreement between the Parties regarding the subject matter of this document and supersede any prior documents, including whitepapers, informational materials, and presentations, which are made available for historical interest only and do not contain legal obligations of the Issuer. For information about DePIX and its current operations, the End User should consult exclusively these Terms of Use.
16.4. The Issuer may update these Terms at any time by publishing the revised version on its official channels.
17. Contact
Eulen
Compliance and Law Enforcement: compliance@eulen.app
Support: support@eulen.app