Company: DEFI
Filing Date: 2025-02-21
Form Type: POS AM
Source: 0001839882-25-010345
Chunk: 124

Company: Tidal Commodities Trust I
Filing Date: 2025-02-21
Form: POS AM
Chunk 124
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 arising from any contract, tort, negligence, strict liability, or other legal grounds, even if BitGo was previously advised
of, knew, or should have known about the possibility of such damages. However, this exclusion of liability does not extend to cases
of BitGo’s fraud, willful misconduct, or gross negligence. In situations of gross negligence, BitGo’s liability is
specifically limited to the value of the digital assets or fiat currency that were affected by the negligence. Additionally, the
total liability of BitGo for direct damages is capped at the fees paid or payable to them under the relevant agreement during the
three-month period immediately preceding the first incident that caused the liability.

As a regulated custodian, BitGo is subject
to a detailed statutory and regulatory framework, including holding customer assets in segregated client accounts on behalf of
customers. 100% of Fund assets and private keys safekeeped by BitGo will be held in cold storage (Custodial Wallets) in segregated
accounts and are never commingled with BitGo or other client assets. BitGo applies industry standards, such as CryptoCurrency Security
Standard (CCSS) and SOC1 and SOC2, while also working with the most trusted brands in the industry and offering clients comprehensive
insurance solutions.

The BitGo ecosystem and architecture for
Private Key management includes the BitGo Platform, HSMs and modular services. The BitGo cold custody solution is built on BitGo’s
security to manage keys on behalf of customers. BitGo only signs transactions that have been authorized by the Sponsor and follow
the policies set by the account administrators.

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The primary keys and backup keys are created
offline using an OVC (Offline Vault Console) on air gapped laptops during a secure ceremony to create hardened cryptographic seeds
that power the BitGo solution. This is to ensure only machines which have no access to the internet and are pristine are able to
see private key material.

Undisclosed personnel at BitGo hold the
sharded keys. When they are reconstituted, they are able to sign a transaction which moves funds in the public blockchain. To mitigate
collusion, the individuals who have the shared keys are different from those who have access to the vaults where the signings happen.

The private key is reconstituted in the
Offline Vault Console (OVC), however in internal memory only. At no point is it displayed or shown to any user. After signing is
done