Definitions

Official DocumentNiche Forward Contract Offering

Definitions

This document provides definitions for key terms used in the Niche Forward Contract offering memorandum.

  • Bearer Contract: A contract that is payable to the holder of the document. The obligation is to the person who possesses the contract, not to a named individual.

  • Derivative: A financial contract whose value is derived from an underlying asset. In this case, the Forward Contract is a derivative of the Niche.

  • Forward Contract (Definition): A private agreement between two parties to buy or sell an asset at a specified price on a future date. It is a person-to-person transaction and is not standardized or traded on a public exchange.

  • Futures Contract: A standardized legal agreement to buy or sell a particular commodity or financial instrument at a predetermined price at a specified time in the future. Futures contracts are traded on public exchanges.

  • Holder: The person or entity who currently possesses the Forward Contract. The Holder has the right to accept delivery of the Niche from the Issuer.

  • Issuer: The original creator of the Niche and the issuer of the Forward Contract. The Issuer has the obligation to deliver the Niche to the Holder of the Forward Contract on the Delivery Date.

  • Forward Contract (Object): The contract itself. It is a bearer instrument that represents the right to accept delivery of a specified quantity of Niche from the Issuer on a future date.

  • Marketplace: The unregulated, peer-to-peer platform where users buy Forward Contracts or Niche to pay for Onli services.

  • Offering Memorandum: A legal document that provides details about an investment offering for the purpose of soliciting investment. In this case, it is a collection of documents that explain the Niche Forward Contract offering.

  • Niche: The underlying digital commodity. It is a programmed genome, a unique digital asset.

  • Niche Marketplace: The unregulated, peer-to-peer platform where users buy Niche to pay for Onli services (Treasury deployment, Developer subscriptions, Asset issuance fees). Users who pre-purchased Niche but no longer need it have a liquidity option to sell at the fixed $1.00 price to service buyers.