Company: DEFI
Filing Date: 2025-03-27
Form Type: 424B3
Source: 0001999371-25-003249
Chunk: 150

Company: Tidal Commodities Trust I
Filing Date: 2025-03-27
Form: 424B3
Chunk 150
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 which the penalty is based, the Clearing
House Risk Committee found that Phillip Capital Inc. violated CME Rule 980.A – Required Records and Reports. In accordance
with the settlement offer, the Committee imposed a $50,000 fine for non-current books and records due to an issue with the firm’s
middleware provider. In a related matter, the CME Group had previously fined Phillip Capital Inc. on March 19, 2021, for its violation
of Rule 811 and 561. During the month of February 2021, Phillip Capital Inc. inaccurately reported its open interest and large
trader positions in several instances of CME, CBT, NYMEX, and COMEX contracts due to the aforementioned middleware issue. A fine
in the amount of $5,000 was assessed against Phillip Capital Inc.

Commodity Trading Advisor

Currently, the Sponsor does not employ commodity
trading advisors. If, in the future, the Sponsor does employ commodity trading advisors, it will choose each advisor based on arm’s
length negotiations and will consider the advisor’s experience, fees, and reputation.

Contractual Fees and Compensation Arrangements with the Sponsor and Third-Party Service Providers

| Service Provider                                                       | Compensation Paid by the Fund                                                                                                                                                                                                                                                                                                                               |
| Tidal Investments LLC, Sponsor                                         | 0.25% of average net assets annually                                                                                                                                                                                                                                                                                                                        |
| Phillip Capital Inc, Futures Commission Merchant and Clearing Broker   | The Fund pays $5.00-$10.00 per Futures Contract half-turn exclusive of pass through fees for the exchange, NFA, execution fees, and platform and exchange data fees.                                                                                                                                                                                        |
| StoneX Financial Inc., Futures Commission Merchant and Clearing Broker | The Fund pays $10.00-$25.00 per Futures Contract half-turn exclusive of pass through fees for the exchange and NFA. Additionally, if the monthly commissions paid do not equal or exceed 20% return on the Maintenance Margin Requirement at 9.6% of Exchange Maintenance Margin, the Fund will pay a true up to meet that return at the end of each month. |
| Wilmington Trust, Trustee                                              | $3,300 annually for the Trust                                                                                                                                                                                                                                                                                                                               |

*The above table does not include compensation
arrangements between the Sponsor and third-party service providers including the Administrator, the Sub-Administrator, Custodian,
Marketing Agent, Transfer Agent, or auditors.

Other Non-Contractual Payments by the Fund

The Fund pays the Sponsor a Management Fee