Last Updated: September 1, 2026
These Terms of Service (the "Terms") govern your access to and use of the websites (including daybreak.fi), dashboards, applications, application programming interfaces, and other products or services that link to these Terms (collectively, the "Services") provided by Convexia Labs, Inc., doing business as Daybreak ("Daybreak," "we," "us," or "our"). By accessing or using the Services, you agree to be bound by these Terms. If you do not agree, do not use the Services.
IMPORTANT: The Services and the Partials (as defined below) are NOT available in the United States, the United Kingdom, Canada, Australia, or any other Restricted Jurisdiction, or to U.S. Persons or other Restricted Persons, as detailed in Section 4 of these Terms. If you are a Restricted Person, you may not access or use the Services.
1.1 Non-custodial protocol. Daybreak provides a non-custodial protocol and associated software tools, deployed on the Solana blockchain, that enable users to (a) mint a supported third-party tokenized equity token (an "Underlying Token") into a fixed set of component tokens ("Partials"), and (b) redeem a complete set of Partials back into the corresponding Underlying Token (the "Protocol"). Underlying Tokens deposited through minting are held in program-derived escrow accounts controlled by the Protocol's on-chain logic; the Protocol releases escrowed Underlying Tokens only in connection with redemptions and authorized withdrawals of accrued protocol fees. We do not hold, control, or have access to your private keys and do not take custody of your digital assets.
1.2 Interface and Protocol. These Terms govern your use of our websites, interfaces, and related services. The Protocol itself consists of smart contracts deployed on the Solana blockchain that execute according to their programmed logic. The Protocol may be accessible through means other than our Services, and we may restrict access to our Services (including through geographic restrictions) without affecting the on-chain operation of the Protocol.
1.3 Not an exchange, broker, or advisor. Daybreak is not a broker, dealer, underwriter, exchange or alternative trading system operator, transfer agent, clearing agency, custodian, investment adviser, commodity trading adviser, money transmitter, bank, or virtual asset service provider, and is not registered or licensed in any such capacity with any governmental authority. We do not execute trades on your behalf, clear or settle transactions, guarantee best execution, or provide investment, legal, tax, or accounting advice. Any decisions you make with the Services—minting or redeeming Partials, swapping tokens, or otherwise—are solely your own.
1.4 Third-party protocols and services. The Services may interface with third-party protocols and tools (collectively, "Third-Party Services"), including wallets (e.g., Phantom, Solflare), RPC providers, routing and aggregation services, decentralized exchange protocols and liquidity pools, oracles and data feeds, block explorers, and the issuers of Underlying Tokens ("Underlying Issuers"). Those are not controlled by Daybreak and are subject to their own terms and risks. Please see Sections 3 and 11 of these Terms for additional binding provisions related to Third-Party Services and Underlying Issuers.
2.1 No rights in referenced companies. Partials are not shares, securities, equity interests, notes, or other interests in or obligations of any referenced company (meaning any company whose tokenized equity serves as an Underlying Token), any subsidiary, division, or business segment of a referenced company, or any Underlying Issuer. Partials confer no ownership, economic, voting, dividend, distribution, information, or other legal rights in any referenced company or any of its businesses, and holding a Partial gives you no claim of any kind against any referenced company. References to companies, subsidiaries, brands, and business segments are made solely to identify a Partial's defined scope. Daybreak and the Partials are not affiliated with, endorsed by, sponsored by, or issued by any referenced company.
2.2 What a Partial is. A Partial is a token on the Solana blockchain whose value corresponds to a market-determined proportion (a "weight") of one Underlying Token, defined by reference to a business scope statement committed immutably when the relevant series of Partials is created. A complete set of Partials (one unit of each Partial in the series) is redeemable through the Protocol for the corresponding Underlying Token, which anchors the sum of the Partials' weights. The relative weight of each individual Partial is determined solely by secondary-market trading. Nothing requires or guarantees that a Partial's market price will track, correspond to, or reflect the performance, value, revenues, or prospects of the business for which it is named.
2.3 Complete sets only. Protocol redemption requires a complete set of Partials. An individual Partial carries no redemption right on its own, and its liquidity depends entirely on secondary markets, which may be limited, volatile, or unavailable. There is no guarantee of any secondary market, liquidity, price stability, or exit for any Partial.
2.4 No deposit; no insurance. Partials and Underlying Tokens are not bank deposits and are not insured or guaranteed by any deposit insurance scheme, investor compensation scheme, or governmental authority. Partials are risky, may decline in value, and may result in the total loss of the amounts you use to acquire them.
3.1 Third-party instruments. Underlying Tokens are tokenized equity instruments created and administered by third-party Underlying Issuers under their own legal structures and documentation. Daybreak does not issue, sponsor, or redeem Underlying Tokens against any underlying equity, does not custody Underlying Tokens other than as escrowed by Protocol logic as described in Section 1.1, and has no control over any Underlying Issuer. Your rights, if any, in respect of an Underlying Token are governed solely by the applicable Underlying Issuer's documentation, and you are solely responsible for reviewing that documentation and for your eligibility to acquire and hold Underlying Tokens under it and under applicable law.
3.2 Underlying Issuer powers. Underlying Tokens typically carry issuer-held administrative powers, which may include the power to pause all token transfers, freeze individual token accounts, transfer or seize tokens under a permanent delegate authority (including, for example, in response to legal or court orders), and activate transfer-restriction programs. Exercise of any of these powers by an Underlying Issuer can halt minting and redemption through the Protocol—including with respect to Underlying Tokens held in Protocol escrow—and is entirely outside Daybreak's control. Daybreak has no discretionary pause of its own over redemption: the only events that can stop a Protocol redemption are the Underlying Issuer powers described in this Section 3.2 (and, in the case of an activated transfer-restriction program, a Protocol safety check that fails closed until a corresponding program upgrade is deployed, as described in Section 9).
3.3 Corporate actions and series. Each series of Partials commits its business-scope definitions immutably at creation. Corporate actions and changes at a referenced company (including reorganizations, divestitures, spin-offs, and changes in financial reporting structure) do not mechanically alter Partial definitions, entitlements, or the Protocol's redemption arithmetic. Markets may reprice Partials to reflect changed circumstances, and a designated residual Partial in each series absorbs definitional drift by construction. New series with updated definitions may be launched from time to time; migration between series is voluntary (by redeeming the prior series and minting the new one), and no series is frozen or wound down by Daybreak.
3.4 Underlying restrictions. Underlying Tokens are themselves typically subject to transfer and eligibility restrictions under the applicable Underlying Issuer's documentation and applicable law, including restrictions on offers and sales to U.S. Persons.
4.1 Minimum age and authority. You must be at least 18 years old (or the age of majority where you live) and able to form a binding contract. If you use the Services on behalf of an entity, you represent that you have authority to bind that entity to these Terms.