Loon Blocked Address Policy

Loon has the ability to block individual addresses from sending and receiving CADC on every Supported Blockchain to which CADC is issued. In this document, this ability is referred to as a "Blocked Address." When an address is a Blocked Address, it can no longer send or receive CADC and all of the CADC controlled by the Blocked Address is blocked and cannot be transferred on-chain. It is not possible to deny access to individual CADC. This Policy sets forth Loon's policy on a Block Address.

1. Purpose

The purpose of this Policy is to (i) comply with relevant laws and regulations, (ii) specify under what circumstances Loon would deny access to CADC, (iii) protect the integrity of our network, and (iv) specify the consequences that may flow from this Policy.

2. Policy Statement

Loon will not deny access to individual addresses, other than in circumstances that strictly conform to the requirements set forth under Part 3, Policy Exceptions.

3. Policy Exceptions

  • Loon will accept and consider a request for an exception to its policy against a Blocked Address where Loon determines, in its sole discretion, that failure to grant a denial of access request presents a threat to the security, integrity, or reliability of CADC; for example, security breaches that compromise the private keys of CADC and result in unauthorized CADC being issued from such compromise.
  • Loon will block individual addresses in order to comply with a law, regulation, or legal order from a duly recognized authorized authority, court of competent jurisdiction, or other governmental authority in Canada with jurisdiction over Loon. Loon reserves all rights to object to a Blocked Address that presents a threat to CADC or that Loon determines is objectionable.

4. Reversals

Loon may revert the Blocked Address of an individual address upon formal confirmation from such duly recognized authorized authority, court of competent jurisdiction, or other governmental authority in Canada with jurisdiction over Loon that the legal obligation or court order (per Part 3, Policy Exceptions above) is lifted or no longer applicable, or that a security incident no longer requires such intervention.

5. Governance

To ensure effective oversight of this Policy, Loon will regularly report publicly the most up-to-date amount of Blocked Address CADC tokens.