Transferability & Secondary Market
This page is provided for informational purposes only and is subject to the disclaimers set out in Disclaimers.
Transferability
Stove tokens are transferable outside the United States, across the supported blockchains (see Technical), subject to the jurisdictional and eligibility restrictions (see Eligibility & Access) and to applicable law.
Transfers are subject to certain conditions, including:
- A token cannot be transferred while it is subject to an unprocessed corporate action. See Corporate Actions → Transfer Lock.
- Transfers may not be made to, or for the benefit of, any Prohibited Person (see Eligibility & Access).
Secondary Market Restrictions
Stove tokens may, in accordance with applicable law, come to be held or acquired through one or more secondary markets. The Issuer does not guarantee that any secondary market exists or will exist for the tokens, that any such market will be available at any particular time, or that sufficient liquidity will be available. The Issuer makes no representation as to the price of any token on any secondary market, which may not reflect the price at which the token was issued.
Redemption requires onboarding. As a condition to redeeming any token, a holder must satisfy the Issuer's customer due diligence ("know-your-customer") requirements. A person who acquires a token on a secondary market without having completed onboarding may therefore be unable to redeem that token. The Issuer may refuse any redemption where it suspects, or is advised, that the redemption may be non-compliant with applicable law, or where refusal is necessary or appropriate to ensure the Issuer's compliance with its policies or applicable law.
Acquisition on secondary markets is at the acquirer's own risk. Each person who acquires a token on a secondary market is deemed, by that acquisition, to represent that: (a) they have received and acknowledged the applicable disclaimers and warnings; (b) they understand the associated risks; (c) they are not a Prohibited Person; (d) the token is suitable for them; and (e) they wish to acquire a token issued by the Issuer. Prohibited Persons have no rights under the offering documents.
Taxes. Each holder is solely responsible for any taxes arising from the purchase, acquisition, sale, or holding of any token, and should consult their own tax advisor.
The detailed terms governing the tokens, including limitations on recourse and the dispute-resolution provisions, are set out in the offering documents, which are made available to investors who complete onboarding. This page is a summary only and does not replace those documents.