General Risk Warning

Effective date: 13 November 2026

Operator: V Pawn Trading Limited

Please read this General Risk Warning together with the Terms of Service (/terms-of-services) before using VPawn at vpawn.io (the "Service"). The Service is currently in a testing phase, and references to Partner Pawnshops describe what will happen once live operation begins.

1. No Licence Held by VPawn

V Pawn Trading Limited (the "Company") does not hold any banking, lending, pawnbroking or securities licence. The Company does not make loans, take deposits, hold pledged items or hold Members' funds. The Service is a technology platform. Pawn loans, appraisal, custody of pledged items and redemption will be provided by Partner Pawnshops under their own pawnbroking licences.

2. Not an Investment

A Pawn Ticket NFT represents one entire pawn ticket. It is not an investment product, deposit or security. It does not pay interest, dividends or any other return, and it cannot be divided. Do not buy a Pawn Ticket NFT in the expectation of a gain.

3. Pawnshop Risk

After live operation begins, the rights attached to a Pawn Ticket NFT will depend on the issuing Partner Pawnshop. If the Partner Pawnshop fails to perform, a holder's rights can be exercised against that Partner Pawnshop, not against the Company. The Company is not a party to any pawn loan and does not stand behind a Partner Pawnshop's obligations.

4. Expiry of Pawn Tickets

A Pawn Ticket has an expiry date set by the pawn terms of the issuing Partner Pawnshop. If the pawned item is not redeemed by the expiry date, the Partner Pawnshop will dispose of the item in accordance with its pawn terms and the local law that applies to it. The holder of the Pawn Ticket NFT may then lose the rights under the Pawn Ticket, and the NFT may lose its value.

5. Blockchain Risk

Blockchain transactions cannot be cancelled or reversed once confirmed. A transaction sent to a wrong address or on a wrong network may be lost permanently. Members are solely responsible for their wallets and private keys. The Company does not store or have access to private keys and cannot recover a lost wallet. Smart Contracts and blockchain networks may contain defects or be attacked, which could cause loss.

6. Price Risk of Payment Assets

Payments on the Service are made with crypto-assets such as USDT. The price of a payment asset can change quickly, and a stablecoin may lose its peg to the currency it follows. Fees and prices shown in another currency are shown for reference purposes.

7. Legal Restrictions in Your Country

The laws that apply to crypto-assets, NFTs and pawn tickets differ between countries, and use of the Service may be restricted or prohibited where you live. The Service is not available in restricted countries listed in the Terms of Service. You are responsible for checking and following the laws that apply to you.