No Public Offering or Solicitation
Belief Systems provides informational index data and analytics to the general public. Separately, a small number of invited participants hold interests linked to certain index series through a limited program (the “Alpha Program”). Interests in the index series are securities. They are made available solely on a private, invitation-only basis to a limited number of persons, in reliance on exemptions from registration under the U.S. Securities Act of 1933 (the “Securities Act”). Accordingly:- Nothing on this website, in our documentation, or in our published index data constitutes an offer to sell, or a solicitation of an offer to buy, any security. Index data, performance information, and related commentary are published for informational and research purposes only.
- The interests have not been registered under the Securities Act or any state securities laws, and have not been approved or disapproved by the U.S. Securities and Exchange Commission (SEC), any state regulator, or any other authority.
- The Alpha Program is not open to the general public. Public access to the informational Services does not entitle anyone to invest, and no investment functionality is available except to invited participants who satisfy the conditions below.
Accredited Investors Only; Verification; Subscription Agreement
Participation in the Alpha Program is subject to strict conditions:- Every participant must be an accredited investor as defined in Rule 501(a) of Regulation D.
- Belief Systems takes reasonable steps to verify accredited status before accepting any investment, primarily through third-party verification letters (from a CPA, attorney, registered broker-dealer, or registered investment adviser) or other counsel-approved methods.
- No investment is accepted, and no investment functionality is enabled, until accredited status is verified and the investor has executed the Subscription Agreement. The Subscription Agreement and its accompanying disclosures — not these Disclosures or the Terms of Service — govern the terms of any investment.
Restricted Securities; Transfer Restrictions
Interests acquired through the Alpha Program are “restricted securities.” They may not be resold or transferred except pursuant to an effective registration statement or an available exemption from registration under the Securities Act and applicable state law, and only as permitted by Belief Systems’ governing documents. There is no public market for the interests, and none is expected to develop. Holdings are recorded in book-entry form, and transfers are restricted to persons approved by Belief Systems.No Investment Advice; No Fiduciary Relationship
Nothing provided by Belief Systems constitutes:- Investment advice
- Financial advice
- Legal or tax advice
- A recommendation or endorsement of any transaction, strategy, or instrument
Experimental Investment Activity; Risk of Loss
Investment functionality made available through the Alpha Program is experimental and involves substantial risk, including the possible loss of some or all invested funds. You should not invest unless you can afford to lose your entire investment. Without limitation, risks include:- Software bugs, errors, or system failures
- Delays, partial execution, or failed execution
- Custodial, operational, or security failures
- Liquidity constraints or execution limitations
- Methodology changes or index composition changes
- Pauses, throttling, or discontinuation of functionality
Single-Entity Structure; Conflicts of Interest
During the Alpha Program, True Craft Ventures LLC acts in multiple capacities — as issuer of the interests, manager of the underlying portfolio, operator of the platform, and custodian of the assets. There is no separate fund entity, independent manager, independent custodian, or independent administrator. This creates inherent conflicts of interest (including that the same party determines net asset value, controls custody, sets fees, and decides the timing of mints, redemptions, and withdrawals). These conflicts are mitigated by multi-signature custody controls and automated solvency and reconciliation checks, but are not eliminated. See the Terms of Service and the Subscription Agreement for further detail.Custody of Assets
For Alpha Program participants, digital assets or funds may be transferred to and held in wallets or custody arrangements controlled by Belief Systems (including smart contract–based or multi-signature custody mechanisms). Belief Systems:- Maintains operational control over such custody arrangements during the Alpha Program
- Acts as custodian itself; there is no independent qualified custodian, trustee, or oversight body during the Alpha Program
- May delay, restrict, or suspend withdrawals for operational, security, or risk-management reasons
- Does not guarantee continuous access to, or immediate withdrawal of, funds
Jurisdictional Scope
The Alpha Program is a deliberate, limited, invitation-only program for verified accredited investors, conducted in reliance on exemptions from registration under the Securities Act. It is not offered to the general public and is not directed to any person in a jurisdiction where the offer, solicitation, or sale would be unlawful. Participation by non-US persons, if any, is addressed separately under applicable exemptions (including Regulation S) and is subject to counsel review. Investors are responsible for determining whether their participation is permitted under the laws applicable to them. Access may be restricted or revoked based on jurisdiction, regulatory considerations, or internal policy.Nature of Index Data
Index values and related analytics:- Are derived from prices or data observed in prediction markets or other third-party sources
- Reflect market expectations, not facts or certainties
- Are probabilistic, theoretical, and subject to interpretation
Non-Executable and Methodology Risk
Index values:- May be theoretical or model-based
- May not represent executable prices
- Are presented before fees, slippage, market impact, or liquidity constraints, and the value actually realizable on a mint or redemption may be lower
Fees
Fees may apply to investment functionality now or in the future, as described in the Subscription Agreement. Belief Systems reserves the right to introduce, modify, or remove fees, subject to the Subscription Agreement and applicable law. The specific fees applicable to an investment are disclosed in the Subscription Agreement in effect at the time of investment.No Guarantees; No Reliance
Belief Systems makes no representations or warranties regarding:- Accuracy or completeness of data
- Performance or outcomes
- Availability or continuity of the Services
- Suitability for any purpose