Stablebonds are digital assets issued by Etherfuse®, backed by government debt instruments such as Mexican CETES, US Treasury Notes, or UK Gilts. The backing allows holders to claim both the nominal value of the underlying assets and the generated rewards.

At their core, Stablebonds are tokenized real-world assets (RWAs) backed by government-issued bonds from stable economies such as the USA, Mexico, and the European Union. These bonds are the backbone of Stablebonds, ensuring that every investment is rooted in tangible, government-backed securities.

As a context, Stablebonds are digital assets issued through blockchain technology, which are backed by different financial assets through financial entities authorized in Mexico to operate. These financial assets backing the Stablebonds currently are: (i) Mexican government debt (CETES); (ii) US government debt (US Treasury Notes); and, (iii) UK Government liability (Gilt) (hereinafter referred to indistinctly as "Financial Assets").

The acquisition of each Stablebond generates the right in favor of its holder to claim: (i) the nominal value of the Financial Asset backing the Stablebond; as well as (ii) its accessories upon maturity of the Financial Asset, in its case.

The accessories are the amounts established by Etherfuse® through the Platform (hereinafter, "Rewards"), which source is the yield obtained on the acquisition of the underlying Financial Asset.

Etherfuse® generates revenue from:

• Commissions as a percentage of the Yields on Financial Assets acquired using customer funds, minus commissions charged by third parties and taxes.
• Yields on Financial Assets purchased with its own capital.

As a context, Etherfuse®´s commissions collection model is based on a variable structure. This structure is related to the yield (Y) of the underlying assets. The fee charged (f) ranges from 0.25% to 1.5%, based on the yield and risk level of the underlying asset as follows:

1. Low yield range (Y < 4.5%): A fixed commission of 0.25% is applied to products with a yield equal to or less than 4.5%.

2. Intermediate yield range: For products whose yield is in an intermediate range, the commission is calculated as follows:

   F% = 0.2273 × Y - 0.7727

   This formula adjusts the commission proportionally to the performance of the asset, allowing the commission rate to increase as the performance increases.

3. High yield range (Y > 10%): Products with yields equal to or greater than 10% are subject to a fixed fee of 1.5%.

The general model looks as follows:

* Tax Withholdings: On both investments in Financial Assets (either with own capital or clients' resources), Mexican financial entities withhold 0.5% of the interest.