Frequently Asked Questions

The AUDM token is a crypto-token designed to be used to make payments on a blockchain or decentralised ledger. It is purchased and redeemed from Macropod at the rate of one AUDM token to one Australian dollar. This type of crypto-token is often referred to as a stablecoin.

Stablecoins are a class of digital asset token issued on a blockchain or decentralised digital ledger. Unlike unbacked cryptocurrencies such as Bitcoin, stablecoins are intended to maintain a stable value relative to a fiat currency such as Australian dollars (AUD). A stablecoin issuer stabilises the value of the token by maintaining a reserve of liquid financial assets and controlling the supply of tokens through the exchange of the relevant fiat currency for tokens.

Blockchain is ledger of transactions recorded in code on a decentralised network of servers (sometimes referred to as distributed ledger technology). The blockchain is secured using cryptography. Individual transactions are grouped into a block and, once verified, the new block is linked to the previous block. This chain of blocks – the blockchain – makes it nearly impossible to alter past records without changing subsequent blocks. All network participants must reach consensus on the newest block before it is added to the chain.

The AUDM token is issued as crypto-tokens on a blockchain called the Ethereum Network and another called the Redbelly Network. Macropod intends to add other networks over time. New networks for the AUDM token will be announced on our Website.

No. The AUDM token is intended to be used for making non-cash payments. It is not an investment product, deposit, loan or a facility to manage financial risk. It does not pay a yield or return and is designed to have a stable value rather than a capital gain.

AUDM is issued by Catena Digital Pty Ltd ABN 78 669 901 302 trading as Macropod Global (Macropod). Macropod is a company registered and licensed in Australia.

Yes. ASIC has expressed a view that it considers fiat-pegged, non-yield-bearing stablecoins such as the AUDM token to be a “non-cash payment facility” and therefore a “financial product” that is covered by Chapter 7 of the Corporations Act 2001 (Cth). This means that, in order to issue an AUDM token, Macropod holds an Australian Financial Services Licence (AFSL 566313). Macropod is also registered as a digital currency exchange with the Australian Transaction Reports and Analysis Centre (AUSTRAC) DCE100887005-001.

No. The AUDM token is not a deposit held in an account with any authorised deposit-taking institution ADI. As such, you do not have access to the Financial Claims Scheme. An AUDM token is not Australian currency or foreign currency, legal tender, money or a deposit, nor any substitute for such currency, legal tender, money or deposit other than where a third party is prepared to accept it as a means of payment or tender. Each AUDM token represents a unit in a unit trust so represents a beneficial interest in the reserves that support the value of the token, i.e. an interest in the AUDM Trust.

Companies and individuals who want to make payments to people who accept AUDM as payment. See Macropod’s Target Market Determination (TMD) for a description of the class of client for which this product has been designed. The AUDM token is available from Macropod to both wholesale and retail clients of the Macropod Platform, who are Australian residents or are residents of jurisdictions on Macropod’s Eligible Jurisdiction list, which is available on our website.

You can receive AUDM tokens in the following ways:

• If you are eligible to be a client of the Macropod Platform, and your application to be a client is accepted and not suspended, you can request AUDM tokens to be minted to your crypto wallet via the Macropod Platform;
• As long as your crypto wallet is not on Macropod’s DenyList (see below):
  
  • you can receive AUDM tokens from someone who makes a payment of AUDM tokens to your crypto wallet; or
  • you can buy AUDM tokens from a digital currency exchange that offers AUDM tokens.

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The Macropod Platform is a web app and process operated by Macropod to facilitate the issuance (i.e. minting) and redemption of the AUDM token. Only people and entities who have been accepted and onboarded to the Platform, whose access is not suspended, can use the Platform to mint and redeem AUDM.

To become a client, you must be onboarded to the Macropod Platform, which means you must a meet the Eligibility Criteria set out in the Platform Terms and Conditions.  A client must:

• be resident in Australia or another Eligible Jurisdiction;
• be over 18 years of age;
• be prepared to provide sufficient identification information to satisfy the know your customer and other checks in our AMLCTF Program;
• have a current email address, an Australian bank account, or, at our discretion, a bank account in an Eligible Jurisdiction in which you are resident;
• have a mobile phone number and have access to an electronic device with a working internet connection; and 
• have your own crypto wallet (blockchain address) that is able to receive AUDM tokens.

You can use Macropod’s online interface Website or app, if available, to apply to become a Macropod client, or contact Macropod directly to request an Application Form. You must complete an Application Form and include any information or documents Macropod requests and lodge the Application Form and documents with Macropod. Macropod may refuse any application for any reason.

Yes. You will be required to provide us with certain information to enable us to comply with our obligations under Anti-money Laundering (AML) and Counter-terrorist Financing (CTF) laws.

Yes, if the person is resident of a country on the Eligible Jurisdiction list and onboarded as a client of the Macropod Platform. Non-Australian clients may take longer to onboard.

Yes. When you are onboarded to the Platform, you will be asked to provide your Standard Settlement Instructions (SSI). You can provide more than one Nominated Wallet address and more than one Nominated Bank Account.

Once you have been onboarded as a client of the Macropod Platform, you can request to purchase an AUDM token via the Macropod Platform. To do this, you can submit a Mint Request and pay Australian dollars to the Reserve Account using the bank details Macropod provides. After payment is received, Macropod mints AUDM tokens directly to your nominated crypto wallet (blockchain address). See the PDS and AUDM Terms.

When you receive a mint of AUDM directly from Macropod, each AUDM token is issued at a price of one Australian dollar (AUD 1.00) per token. The price offered by digital currency exchanges may be different and is set by the exchange.

At present, the minimum AUDM tokens you can acquire as a mint from the Macropod Platform in one transaction is 1,000 AUDM. You can acquire up to 100,000 AUDM per 24 hours, with a maximum of 10,000 AUDM per transaction. If you are concerned that this is not enough, please reach out to the Macropod Hoperations team hops@macropod.com. If you want to acquire less than 1,000 AUDM, you can also buy AUDM from a digital currency exchange that lists AUDM.

Currently, Macropod does not charge a fee to mint AUDM tokens on the Macropod Platform. However, you may need to pay blockchain “gas” fees when sending AUDM tokens, and your bank may charge fees for payments to the Reserve Account. In the Platform Terms Macropod reserves the right to introduce a fee in the future. If this change occurs, notice will be provided on the website.

After Macropod receives your Mint Payment into the Reserve Account and validates your Mint Request, it mints AUDM tokens to your nominated wallet. In most cases, this is likely to happen within minutes. Delays can sometimes occur if our bank or your bank does not immediately process the transaction, or during any period where minting is processed manually. Macropod uses best endeavours to mint the AUDM tokens into your wallet by the end of the next Business Day.

If you have AUDM tokens, you can transfer them to another wallet address, whether or not the recipient is a Macropod Platform client, using the functionality of your own crypto wallet. Transfers of AUDM tokens between wallets are not made via the Macropod Platform but via the normal functionality of your wallet and the underlying blockchain.

People who receive an AUDM token are able to transfer it to others, unless the recipient’s blockchain address (crypto wallet) is on Macropod’s DenyList. The DenyList includes, for example, sanctioned blacklisted crypto wallets on the Specially Designated Nationals (SDN) List maintained by the United States Office of Foreign Assets Control (OFAC). If you attempt to make an AUDM token payment to a wallet that is on a sanctions list, the AUDM smart contract is programmed to automatically prevent the transfer.

A person who receives an AUDM token can only redeem it directly with Macropod if they are onboarded as a client of the Macropod Platform. A token-holder who cannot be onboarded (e.g. because they do not meet the Eligibility Criteria) will need to sell or pay the AUDM token to a third party, such as a digital currency exchange, who accepts AUDM tokens.

AUDM tokens can only be redeemed with Macropod by clients of the Macropod Platform. A client who has been onboarded to the Macropod Platform and continues to satisfy the Eligibility Criteria may apply to redeem an AUDM token by submitting a Redemption Request.

If you are a client of the Macropod Platform, you can submit a Redemption Request via the Platform and transfer AUDM tokens from your nominated crypto wallet to Macropod’s Treasury Wallet. Once Macropod receives your AUDM tokens, it will pay Australian dollars to your nominated bank account at the rate of one Australian dollar per AUDM token.

There is no maximum or minimum amount of AUDM you can redeem on the Macropod Platform.

Currently, Macropod does not charge a fee to redeem AUDM tokens on the Macropod Platform. However, you may need to pay blockchain “gas” fees when sending AUDM tokens to Macropod’s Treasury Wallet, and your bank may charge fees for payments into your bank account.

After Macropod receives your AUDM tokens into our Treasury Wallet and validates your Redemption Request, it instructs its bank to transfer Australian dollars to your nominated bank account at AUD 1.00 per token. In most cases, this is likely to happen within minutes. Delays can sometimes occur if our bank or your bank does not immediately process the transaction, or during periods when redemptions are processed manually. Macropod uses best endeavours to send the payment instruction by the next Business Day, but the time it takes for funds to appear in your account depends on banking processing times.

If you believe your credentials have been compromised please contact hops@macropod.com immediately.

If you have given us the wrong blockchain address for your Nominated Wallet, or the wrong bank details for redemptions, there is a risk that tokens sent to the wrong address or Australian dollars sent to the wrong bank account may be permanently lost.  It is your responsibility to check the details that you provide as “standard settlement instructions” (SSI).  If you have given us the wrong details, contact hops@macropod.com immediately.  

If you have sent AUDM tokens to the wrong blockchain address using the functionality of your crypto wallet, you should contact the wallet provider (if any) about the error or unauthorised activity.  Macropod does not control your crypto wallet and is unable to retrieve tokens that have been sent to the wrong address.

No. Macropod does not currently provide managed wallets and does not hold your private keys. If you lose your private keys or your wallet becomes compromised in any way, Macropod is unable to assist and your AUDM tokens may be permanently lost. Never send your private keys to Macropod or anyone else.

If Macropod is legally required to freeze or burn (destroy) tokens, it will do so.  For example, if Macropod receives a lawful direction from a relevant regulator or court.  

It is not Macropod’s policy to freeze tokens when a token-holder asserts that tokens have been sent in error or that credentials being compromised.  It is up to token-holders to protect their credentials (e.g. private keys) and to check that a recipient’s blockchain address is correct before making a transfer.

See the Combined Legal Agreement for all circumstances in which Macropod can deal with tokens.

Before deciding whether to acquire or continue to use the AUDM tokens or the Macropod Platform, see Macropod’s:

• Combined Legal Agreement, which has the AUDM Terms and the Platform Terms;
• AUDM Trust deed;
• Privacy Policy,

and if you are a retail client, also see the:

• Target Market Determination (TMD); and
• Combined Financial Services Guide and Product Disclosure Statement.+