Company: DEFI
Filing Date: 2025-03-27
Form Type: 424B3
Source: 0001999371-25-003249
Chunk: 122

Company: Tidal Commodities Trust I
Filing Date: 2025-03-27
Form: 424B3
Chunk 122
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 been authorized by the Sponsor and follow
the policies set by the account administrators.

<div align='center'>73</div>

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, the key is no longer available in memory. The OVC is run in a read-only disk, so once the laptop is powered off there is
no non-volatile storage of any kind to write back to disk. The OVC operates using a RAM disk, where it simulates a real hard disk,
but it’s completely ephemeral and wiped as soon as the machine is power cycled or rebooted thus wiping the reconstituted
private key preventing it from being copied or compromised.

BitGo is a South Dakota trust company and
the private keys are strategically distributed across various geographic locations within the United States. In order to enhance
security measures, BitGo refrains from disclosing the exact locations of these keys.

At time of wallet creation, BitGo creates
a unique key pair within its HSM in order to give each client a unique wallet on-chain. These online keys are wrapped by the BitGo
HSM and stored within BitGo’s data vault for the BitGo Platform keys used to sign transactions.

As all custody wallets are segregated, the
existence of bitcoin held by the Fund can be verified on-chain by the Sponsor or any other authorized party.

BitGo cold wallets are supported by a $250
million insurance policy issued by Lloyd’s of London. The specific of the policy include: Cyber Insurance, E&O, General
specie. Any copying and theft of private keys, insider theft or dishonest acts by BitGo employees or executives, and loss of keys
directly related to BitGo custody of key would be covered