# Terms of Sale & Service **Applies To:** PGOLD and any future metal-backed tokens (each a “**Metal Token**”) issued by Pleasing Market or its affiliates; the web app, redemption portal, and related services (the “**Token Services**”). > **Summary (non-binding):** Metal Tokens are designed to represent a **1:1 interest in vaulted precious metals** with **KYC-enabled redemption** (initially in Hong Kong). Token Services include purchase/sale through approved channels, on-chain transfers, on-chain transparency (e.g., **Chainlink Proof-of-Reserve**), and redemption subject to eligibility, fees, and limits. By acquiring, holding, or transferring a Metal Token, you agree to these Terms. ### 1. Eligibility & Compliance You must pass **KYC/KYB**, sanctions screening, and any suitability checks. We may refuse, suspend, or terminate Token Services at any time to comply with law, risk, or operational requirements. Some jurisdictions may be restricted (see **Prohibited Jurisdictions & Sanctions Policy**). ### 2. Nature of Metal Tokens * **Backing:** Each Metal Token is intended to correspond to an undivided interest in vaulted, **LBMA-standard** metal (e.g., gold) held with qualified custodians in Hong Kong (and, as applicable, other approved locations). * **1:1 Design:** Supply is intended to match audited custody balances, subject to operational tolerances. * **Transparency:** We may provide **Chainlink Price Feeds**, **Proof-of-Reserve (PoR)** attestations, and periodic reports. These are informational and do not replace legal audits. ### 3. Purchase, Transfers & Use * Metal Tokens may be acquired via the Pleasing Market application or approved partners/venues. * On-chain transfers are **final** and may be irreversible. * Wrapped/bridged versions by third parties are **not** issued or supported by us unless explicitly stated. ### 4. Redemption (Physical Delivery) * **Who:** Eligible KYC/KYB-verified holders may request redemption. * **Where:** Initial physical delivery/collection supported in **Hong Kong** (expanded APAC coverage may follow). * **Form & Minimums:** Bar sizes, minimum redemption thresholds, lead times, and logistics constraints apply. Fractional interests may require aggregation or cash settlement adjustments. * **Fees:** Redemption, handling, insurance, and delivery fees per the **Fee Schedule**. * **Timing:** We use commercially reasonable efforts; delays may occur due to market/liquidity, logistics, regulatory, or force-majeure events. ### 5. Fees Fees (mint/redeem, network, custody handling at redemption, program fees, etc.) are listed in the **Fee Schedule** and may change. On-chain trading fees are set by respective protocols. ### 6. Yield & Revenue Sharing (if applicable to PGOLD) Where disclosed, Metal Token programs may share **warehouse/custody** and **turnover/trading** revenues, or on-chain fees, to token holders or designated vault wrappers (e.g., aPGOLD). Any yield mechanics will be documented in the **Tokenomics & Distribution Policy** and can change prospectively, including pauses for risk management, compliance, or market conditions. ### 7. Price & Oracles Metal Tokens may reference external price feeds (e.g., **Chainlink XAU/USD**). We may implement **circuit breakers**, deviation thresholds, or temporary halts to protect market integrity. ### 8. Custody & Insurance Custodians/vault providers hold the underlying metal. Insurance, if any, is maintained at the custodian level and may not cover all losses. Detailed custodian relationships and coverage summaries are disclosed in the **Transparency** page and may change. ### 9. Forks, Protocol & Network Support We may support Metal Tokens on selected chains and may cease support for a chain or fork at our discretion. You are responsible for moving tokens to supported networks if we sunset a chain. ### 10. Prohibited Use You may not use Metal Tokens or Token Services for unlawful purposes, sanctions evasion, AML/CTF violations, market abuse, fraud, or activities that jeopardize security or compliance. We may freeze or decline transactions where required by law. ### 11. Tokenization-as-a-Service (TaaS) Vaults/dealers/refiners may tokenize their reserves through Pleasing Market under separate onboarding, legal, and technical agreements. We provide compliance rails, issuance, PoR wiring, and distribution access. Additional terms and fees apply. ### 12. Risk Factors Holding Metal Tokens involves risks, including market risk (metal price volatility), liquidity risk, smart-contract and oracle risk, custody risk, regulatory changes, and operational risk. See **Risk Disclosure** for details. ### 13. No Advice; No Fiduciary Duty We do not provide investment, legal, tax, or accounting advice. You are solely responsible for your decisions. ### 14. Suspension & Termination We may suspend Token Services (including mint/redeem) for compliance, security, operational, market integrity, or force-majeure reasons. We may decline or reverse actions to comply with law. ### 15. Limitation of Liability To the maximum extent permitted by law, Pleasing Market and its affiliates are **not liable** for indirect, incidental, consequential, exemplary, or special damages, loss of profits, data, or goodwill, or any loss due to third-party failures (custodians, chains, oracles, wallets, bridges). ### 16. Amendments We may update these Terms and referenced policies. Updates take effect upon posting unless stated otherwise. ### 17. Governing Law & Dispute Resolution These Terms are governed by the laws of **Hong Kong SAR**. Disputes are resolved by **confidential arbitration** administered by **HKIAC** in Hong Kong, in English, before a single arbitrator. **Class/representative actions are waived.** Courts in Hong Kong have jurisdiction to enforce awards. ### 18. Security Incidents and Emergency Measures In the event of any actual, suspected, or potential security incident, cyberattack, smart contract vulnerability, exploit, unauthorized access, market manipulation, abnormal transaction activity, system failure, or any other event that may threaten the security, integrity, or normal operation of the Site, Services, tokens, smart contracts, user accounts, or related infrastructure, Pleasing Market reserves the right to take any measures it deems necessary or appropriate. Such measures may include, but are not limited to, suspending or restricting access to the Site or Services, pausing deposits, withdrawals, minting, redemption, staking, trading, transfers, or other platform functions, disabling affected smart contract interactions, freezing or blocking suspicious accounts or wallet addresses where legally permissible, delaying settlement, conducting investigations, requesting additional information from users, coordinating with service providers, exchanges, custodians, blockchain analytics providers, law enforcement, or regulators, and taking any other action required to protect users, assets, the platform, or the broader ecosystem. Pleasing Market shall not be liable for any losses, delays, interruptions, or inability to access or use the Services arising from or related to such emergency measures, to the fullest extent permitted by applicable law. --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://pleasing.gitbook.io/docs/legal/terms-of-sale-and-service.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.