Terms of Use

Tulipa is a private asset management platform designed around capital preservation, disciplined allocation, liquidity management, measured risk, and long-term capital growth.

Tulipa may allocate capital across different assets, markets, strategies, and financial instruments according to its investment framework.

Tulipa does not guarantee profits, fixed returns, capital preservation, portfolio stability, immediate liquidity, or recovery from investment losses. All participation involves risk, including the possibility of partial or total loss of invested capital.

Access to certain Tulipa products or features may be limited to eligible or approved participants. Tulipa may establish eligibility requirements based on factors including jurisdiction, regulatory considerations, investment capacity, Early Access status, operational readiness, risk considerations, or other internal criteria.

Tulipa reserves the right to:

• approve or decline access;
• request additional information;
• restrict certain products or features;
• establish minimum or maximum participation amounts;
• limit deposit capacity;
• suspend new deposits; or
• discontinue access where reasonably necessary.

Access to Tulipa does not create an automatic right to participate in any investment product.

Certain Tulipa features require a registered account. You are responsible for providing accurate information and maintaining the security of your account credentials.

You must not:

• provide false or misleading information;
• impersonate another person;
• allow unauthorized persons to use your account;
• attempt to access another user's account;
• circumvent security controls; or
• use Tulipa for unlawful or fraudulent purposes.

You are responsible for activity performed through your account unless the activity results directly from a security failure attributable to Tulipa. You should notify Tulipa promptly if you believe your account has been compromised.

Participation in a Tulipa investment product represents exposure to the investment strategy associated with that product. Capital may be allocated, retained, reallocated, reduced, or exited according to Tulipa's investment framework and prevailing market conditions.

Tulipa may consider factors including:

• expected return;
• liquidity;
• volatility;
• downside risk;
• market structure;
• diversification;
• concentration;
• position sizing;
• portfolio capacity;
• available evidence; and
• changes in the underlying investment thesis.

No investment decision can be guaranteed to be correct. Investment results may differ materially from expectations.

Tulipa products may operate with limited deposit capacity. This limitation is an intentional part of the investment framework and is intended to help preserve allocation efficiency, liquidity, and risk discipline.

Tulipa may therefore open, reduce, pause, or close deposits depending on portfolio conditions and available investment capacity. Limited availability does not imply guaranteed demand, scarcity value, expected appreciation, or superior future performance.

Tulipa is not required to accept additional capital when it determines that additional deposits cannot be deployed responsibly.

A deposit represents capital submitted for participation in an applicable Tulipa product or portfolio. Tulipa may establish:

• minimum deposit amounts;
• maximum deposit amounts;
• product-specific capacity;
• deposit windows;
• processing requirements; and
• other operational conditions.

A submitted deposit may remain subject to verification, processing, eligibility review, or product availability before becoming fully allocated. Tulipa may reject, delay, or return a deposit where reasonably necessary for operational, regulatory, security, liquidity, or risk-management purposes.

Tulipa is designed with liquidity management as part of its portfolio framework. However, liquidity should not be interpreted as a guarantee of immediate withdrawal under all circumstances.

Withdrawal timing may be affected by:

• available liquidity;
• portfolio conditions;
• settlement requirements;
• market disruption;
• unusual withdrawal activity;
• operational review;
• transaction processing;
• third-party service availability; or
• other exceptional circumstances.

Tulipa may maintain a liquidity buffer and may adjust that buffer according to portfolio needs. Any stated liquidity ratio or allocation represents a portfolio objective rather than a guaranteed amount available for withdrawal at all times.

Where immediate liquidation could materially disadvantage the portfolio or its participants, Tulipa may take reasonable measures intended to preserve orderly portfolio management.

Tulipa does not promise or guarantee:

• positive returns;
• fixed returns;
• minimum returns;
• fixed income;
• continuous portfolio growth;
• recovery from every loss;
• a maximum drawdown;
• preservation of principal; or
• any specific future portfolio value.

Historical performance, simulations, targets, estimates, portfolio objectives, and research should not be interpreted as guarantees of future results. Actual investment outcomes may differ because of market conditions, execution, liquidity, fees, portfolio changes, unexpected events, and other factors.

Past performance is not a reliable indicator of future performance.

Capital preservation is a core investment objective of Tulipa. It represents the philosophy through which Tulipa approaches risk, allocation, liquidity, and portfolio construction.

Capital preservation does not mean that invested capital is protected from loss. No investment framework can eliminate market risk, prevent every drawdown, or guarantee that losses will be recovered.

Tulipa may accept measured risk where it believes the expected opportunity justifies the exposure.

Tulipa may modify portfolio allocations when conditions change. This may include:

• increasing an allocation;
• reducing an allocation;
• closing a position;
• maintaining additional liquidity;
• reallocating capital;
• changing exposure between asset classes; or
• declining an investment opportunity altogether.

Portfolio decisions may be made based on information available at the time and may later prove incorrect. Tulipa is not obligated to maintain a specific asset, allocation, strategy, or portfolio composition indefinitely.

Tulipa may reinvest realized gains or other available portfolio capital when the investment framework determines that doing so remains appropriate. Reinvestment may contribute to compounding over time.

Compounding is not guaranteed. Investment losses, expenses, reduced opportunities, changing market conditions, liquidity requirements, and portfolio decisions may interrupt or reverse compounding.

References to compounding describe an investment process rather than a promised outcome.

Tulipa may maintain a treasury or financial reserve intended to strengthen the long-term resilience of the ecosystem. Under the applicable Tulipa model, platform fees may be retained within the ecosystem and allocated toward the treasury instead of being immediately extracted as developer revenue.

The treasury may contribute to:

• financial resilience;
• liquidity support;
• risk management;
• operational continuity;
• strategic reserves; or
• other purposes intended to support the Tulipa ecosystem.

The treasury is not an insurance policy. It does not guarantee:

• reimbursement of losses;
• preservation of invested capital;
• protection from drawdowns;
• minimum liquidity;
• minimum returns; or
• recovery from adverse market events.

The existence of a treasury should be understood as part of Tulipa's financial and risk-management structure, not as protection against all investment loss.

Tulipa may charge fees associated with its products or services. Applicable fees may be disclosed through the relevant product, account, transaction, or supporting documentation. Fees may affect investment performance.

Tulipa may revise its fee structure where appropriate, subject to applicable disclosures and requirements. Where fees are allocated into the Tulipa Treasury, this does not create a guarantee that the treasury will generate sufficient value to offset investment losses or other adverse events.

Portfolio values and investment metrics may depend on market prices, third-party data, internal calculations, or other valuation methods. Displayed values may not always represent the exact amount that could be realized through an immediate sale or withdrawal.

During periods of:

• low liquidity;
• extreme volatility;
• market disruption;
• pricing uncertainty; or
• unusual trading conditions,

actual execution prices may differ materially from displayed or estimated values.

Certain Tulipa products or features may initially be released through Early Access. Early Access participation may involve additional operational, technical, investment, or product-development risk.

During Early Access, Tulipa may modify:

• features;
• investment limits;
• portfolio structures;
• interfaces;
• operational procedures;
• risk controls;
• eligibility requirements; or
• product availability.

Early Access does not imply that a product has reached its final form. Tulipa may expand, restrict, pause, or discontinue Early Access at its discretion where reasonably necessary.

Unless expressly agreed otherwise in writing, Tulipa does not provide individualized financial, legal, tax, accounting, or regulatory advice. Research, portfolio information, articles, product descriptions, performance information, and other Tulipa materials are intended to explain Tulipa's investment framework and operations.

They should not be treated as personalized recommendations based on an individual investor's circumstances. You remain responsible for assessing whether participation is appropriate for your:

• financial position;
• investment objectives;
• liquidity needs;
• time horizon; and
• tolerance for loss.

Professional advice should be obtained where appropriate.

Before participating in Tulipa, you are responsible for understanding:

• the investment product;
• the source of potential return;
• the associated risks;
• liquidity limitations;
• applicable fees;
• potential losses; and
• your own financial ability to bear those losses.

You should not invest capital that you cannot afford to lose or that you may require for essential short-term financial obligations.

Tulipa relies on technology, infrastructure, financial data, service providers, networks, exchanges, custodial arrangements, and other operational systems. Tulipa may experience:

• system outages;
• software errors;
• data failures;
• service interruptions;
• cybersecurity incidents;
• delayed processing;
• third-party disruptions;
• connectivity failures; or
• human error.

Tulipa may implement safeguards intended to reduce these risks, but continuous or error-free operation cannot be guaranteed.

Tulipa may depend on or interact with independent service providers, financial infrastructure, market-data providers, exchanges, custody providers, communications services, or other third parties. Tulipa does not control every aspect of these services.

A failure, restriction, security incident, insolvency, interruption, or change involving a third party may affect Tulipa operations or investment outcomes. References to third-party services do not necessarily constitute endorsement.

Financial products and investment activities may be subject to different requirements depending on jurisdiction. Tulipa may restrict access to certain users, locations, products, or features where necessary for legal, regulatory, operational, or risk-management reasons.

You are responsible for determining whether your access to or participation in Tulipa is permitted under the laws applicable to you. Tulipa does not represent that every product or service is available or appropriate in every jurisdiction.

You must not use Tulipa to:

• violate applicable law;
• commit fraud or deception;
• attempt unauthorized access;
• interfere with platform operation;
• introduce malicious software;
• manipulate Tulipa systems or data;
• exploit technical vulnerabilities;
• misrepresent your identity;
• abuse account or transaction processes;
• circumvent eligibility or security controls; or
• engage in conduct that may materially harm Tulipa, its users, or its service providers.

Tulipa may investigate suspected misuse and may restrict or terminate access where reasonably necessary.

The Tulipa name, trademarks, logo, visual identity, product design, website design, software, research, written materials, graphics, documentation, and other original content are owned by or licensed to Tulipa unless otherwise stated.

Access to Tulipa does not transfer ownership of this intellectual property. You may not reproduce, distribute, modify, sell, commercially exploit, or falsely represent Tulipa materials without prior authorization, except where permitted by applicable law.

Use of Tulipa may involve the collection and processing of personal or operational information. Tulipa's handling of personal information is governed by its applicable Privacy Policy and related disclosures.

You are responsible for ensuring that information submitted to Tulipa is accurate and lawful to provide.

Tulipa may update, modify, suspend, restrict, or discontinue features, products, investment strategies, interfaces, or other services where reasonably necessary. Tulipa does not guarantee that every feature or product will remain available indefinitely.

Changes may be made for reasons including:

• investment conditions;
• security;
• operational requirements;
• regulatory developments;
• technical improvements;
• liquidity management; or
• risk management.

Tulipa may suspend or terminate access where reasonably necessary, including where:

• these Terms are violated;
• unlawful or fraudulent activity is suspected;
• account security is compromised;
• regulatory requirements apply;
• continued access creates material risk; or
• Tulipa is required to do so by law or an authorized authority.

Suspension or termination of platform access does not automatically eliminate legitimate financial obligations or ownership rights associated with an existing investment.

To the fullest extent permitted by applicable law, Tulipa is provided on an as-is and as-available basis. Tulipa does not warrant that:

• access will always be uninterrupted;
• all information will always be complete or error-free;
• technology will remain free from defects;
• investment outcomes will match expectations;
• portfolio objectives will be achieved; or
• every operational or market risk can be prevented.

Nothing in these Terms constitutes a warranty of investment performance.

To the fullest extent permitted by applicable law, Tulipa and its founders, developers, contributors, affiliates, employees, and service providers shall not be liable for indirect, incidental, consequential, special, or similar losses arising from:

• market movements;
• investment losses;
• liquidity events;
• third-party failures;
• technological interruptions;
• delayed processing;
• valuation changes;
• regulatory changes;
• opportunity costs; or
• other risks inherent in investing or using Tulipa.

Nothing in these Terms excludes or limits liability that cannot lawfully be excluded or limited.

Tulipa may revise these Terms as its products, investment framework, technology, legal requirements, or operational practices evolve. Material updates will be reflected by updating the effective date.

Continued use of Tulipa after revised Terms become effective constitutes acceptance of those revised Terms to the extent permitted by applicable law.

These Terms should be read together with Tulipa's Risk Disclaimer, Privacy Policy, and any product-specific disclosures presented in connection with an investment product. If a product includes additional terms or disclosures, those additional provisions may apply to participation in that product.

Questions regarding these Terms, account access, or Tulipa's services may be submitted through the official contact channels provided by Tulipa.

By using or participating in Tulipa, you acknowledge that:

• Tulipa is an investment platform and capital is at risk.
• Capital preservation, liquidity management, risk controls, portfolio allocation, treasury reserves, and compounding are elements of Tulipa's investment framework and not guarantees of investment outcomes.
• You are responsible for determining whether Tulipa is appropriate for your financial circumstances and your ability to bear potential loss.