Whereas 

• Young intends to expand its range of services and allow users registered on Young Platform to access another service, hereinafter referred to as ‘Earning Wallet’, provided through it by Tesseract Group Oy (hereinafter ‘Tesseract’);
• Tesseract is a Finnish company that provides sale and exchange services for cryptocurrencies and legal tender currencies as well as cryptocurrency deposit services in certain European countries, including Italy. Tesseract belongs to the register of VASPs (Virtual Asset Service Providers) held by the Finnish Supervisory Authority (FIN-FSA: Financial Supervisory Authority) pursuant to Finnish legislation;
• Tesseract itself optimises the use of cryptocurrencies by participating in staking programmes and so-called DEFI (decentralised finance) activities, including but not limited to margin lending and OTC lending;

For all relations between Young Platform and the User, the General Terms and Conditions as accepted for the products apply when not directly amended by the following, which should always be considered valid only for the Earning Wallet tool.

By accepting these conditions, the User participates in the Earning Wallet service, which has the following features: 

(i) the transfer to a dedicated wallet (the ‘Earning Wallet’) of one or more of the cryptocurrencies currently available, namely BTC (bitcoin), ETH (ethereum), and USDT (a stablecoin anchored to the value of the dollar);

(ii) with the transfer of cryptocurrencies to the wallet, the customer renounces possession, and with it any operational rights, for a certain agreed period of time (the ‘Blocking Period’); 

(iii) at the end of the Blocking Period, the User is entitled to receive an ‘earning’ which involves the delivery of a certain quantity of cryptocurrencies (of the same kinds as those transferred), with the amount being established at the time of the transfer of the aforementioned cryptocurrencies by means of a percentage that will vary according to the market conditions;

(iv) throughout the Blocking Period, Tesseract may use the cryptocurrencies transferred to the Earning Wallet for activities related to VASP operations. It is specified that Tesseract will have full discretion in managing these cryptocurrencies and may take any action in relation to them, in compliance with the agreement that will be drawn up between Young and Tesseract and the usage methods specified to each customer. 

The Blocking Period is variable in duration, and the customer may choose from 3 months, 6 months or 12 months. Following the unblocking date, the cryptocurrencies will be made fully available and the amount due will be credited within 5 working days.

The ‘earnings’ accumulated by the User during the Blocking Period will be expressed in the same currency that was blocked, net of the conversion of this currency into fiat currency.

In the event that the User requests the unblocking of the cryptocurrencies tied up in the Earning Wallet before the predefined period has expired, the accumulated reward will be totally voided and will be retained in full to compensate for the costs incurred by the Platform; compliance with the chosen duration of the Blocking Period is therefore an essential condition for receiving the reward itself.

In no other case are additional fees and/or commissions required for the use of the Earning Wallet tool.