Terminology

Token

A digitally recorded contractual Yield participation right, represented on the Solana blockchain solely for programmatic payment automation. Tokens are transferable between KYC-verified users within the Platform ecosystem, including via the P2P Marketplace, subject to Platform approval and applicable law. Tokens do not confer equity, voting, governance, or ownership rights in any entity, and have no guaranteed monetary value or liquidity outside the Platform.

Token Holder

A user of the Platform who has completed KYC verification and participates in a Funding Round by acquiring Tokens, or who acquires Tokens via the P2P Marketplace. Token Holders hold outstanding Investments in a Recipient under the terms of the applicable Token Sale and Investment Agreement.

Recipient

A company or project operator that lists a solar project on the Platform to raise capital from Token Holders through the issuance of Tokens. The Recipient is the issuer of Tokens and the sole party responsible for making Yield payments and meeting all contractual obligations under the Token Sale and Investment Agreement.

Funding Round

The process by which a Recipient lists a project on the Platform and raises capital from Token Holders through the issuance of Tokens via Smart Contract.

Yield

The periodic payments distributed to Token Holders by the Recipient through the Smart Contract. Yield may consist of a fixed component, a variable component calculated by reference to Gross Revenue, or a combination of both, as defined in the applicable Schedule 1.

Aggregate Payment

The total periodic payment made by the Recipient to the Smart Contract on each Payment Date, from which the Platform Servicing Fee is automatically deducted and the remaining Yield is distributed to Token Holders.

Fixed Payment Component

The portion of the Aggregate Payment that is a fixed monthly amount, payable regardless of actual Gross Revenue or project performance. This constitutes an unconditional contractual obligation of the Recipient.

Variable Payment Component

The portion of the Aggregate Payment calculated as a defined percentage of Gross Revenue generated by the project during the relevant Accounting Period.

Gross Revenue

All cash amounts actually received by the Recipient from the sale of electricity generated by the project, and where applicable, from the monetisation of Renewable Energy Certificates, carbon credits, or other performance-linked environmental attributes directly attributable to the project.

Smart Contract

Self-executing code deployed by the Recipient on the Solana blockchain using the Platform's software infrastructure. The Smart Contract handles the flow of funds during the Funding Round and automates the distribution of Yield payments to Token Holders on each Payment Date. It does not generate revenue or alter contractual obligations.

Soft Cap

The minimum amount of Stablecoins that must be raised during a Funding Round for it to be considered successful. If the Soft Cap is not reached, the round does not proceed and contributed funds are returned.

Hard Cap

The maximum capital amount a Recipient seeks to raise in a given Funding Round, representing the total Investment Amount if fully subscribed.

Collateral

The solar panels, inverters, mounting systems, metering hardware, and all other tangible solar generation assets financed with the Investment Amount, over which Token Holders hold a first-ranking fixed charge. Enforceability is subject to applicable local law.

Collateral Agent

ReFi Hub acting in a limited, non-fiduciary, administrative capacity on behalf of Token Holders, solely for the purpose of holding and coordinating enforcement of security interests following an Event of Default.

Event of Default

A defined set of circumstances under which the Recipient is in material breach of its obligations, including failure to make Yield payments within the contractual grace and cure periods, failure to provide required reporting, or an unauthorised change of control. Events of Default trigger enforcement rights including the Default Compensation Amount.

Grace Period

The five business day window following a Payment Date during which non-payment does not result in a penalty. Penalties begin accruing from the sixth business day.

Stablecoin

A USD-denominated digital settlement token, such as USDC on the Solana blockchain, used as the payment and accounting mechanism for Funding Round contributions and Yield distributions. Stablecoins are not offered or intermediated by the Platform.

KYC / KYB

Know Your Customer and Know Your Business identity verification procedures conducted via the Platform's accredited third-party provider, required for all users before accessing any Funding Round or P2P Marketplace function.

P2P Marketplace

The peer-to-peer token trading facility on ReFi Hub that enables KYC-verified Token Holders to buy and sell Tokens directly with one another using smart contract escrow on the Solana blockchain.