• Mobucks (MBX) Policy

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‍1. Introduction: Mobucks (MBX) - Our In-App Currency

At Modak, we use Mobucks (MBX) as our in-app currency to enhance user overall experience. This policy outlines the terms and conditions governing the use of MBX within our platform.

2. Policy Statement

A. Use of Mobucks: Mobucks, often referred to as MBX, are in-app reward points that can be earned by users when they engage in various activities on our platform. MBX can be used for various in-app transactions and redemptions as specified in this policy.

B. Redemption Value: 100 MBX = $1(as of January 2025). Users can redeem MBX for dollars, which can be accessed through the Modak Card.

Modak reserves the right to modify the terms related to the earning of Mobucks (MBX) through its features, such as the walking feature linked to the Modak platform via third-party health tracking apps available on iOS and Google Play.

As of March 2025, users earn 10 MBX for every 5000 steps recorded via the health tracker integration. However, Modak reserves the right to change the number of steps required to earn MBX and the amount of MBX awarded for such activities. This adjustment may be made at any time at Modak's discretion, and users will be notified accordingly.

Furthermore, Modak retains the right to modify any other features of the platform that offer MBX as a reward. The reward terms associated with all MBX-earning activities are subject to change, and Modak will communicate these changes to users in a timely and transparent manner.

C. Expiration Date: Mobucks (MBX) will have a 120-day expiration period. After this period, users won't be able to use them, and the unused MBX may be blocked.

D. MBX Exchange limit: Users will have the opportunity to redeem a maximum of 100,000 MBX through Modak's exchange feature. Once a user reaches this limit, the MBX count will automatically reset, allowing them to continue earning and redeeming points.

This limit ensures a fair and balanced redemption process for all users while encouraging continued engagement with Modak's platform. Users can redeem their accumulated MBX for USD funds, enhancing their financial empowerment and incentivizing responsible financial habits.

3. Scope

This policy applies to all users of the Modak platform who earn, redeem, or engage with Mobucks.

4. Definitions

• Mobucks (MBX): In-app reward points used within the Modak platform.
• Daily Mobucks: A feature where users can receive Mobucks daily.
• Challenges: Weekly challenges within the platform that rewards in Mobucks.
• Wallet: The section of the app where users can view their Mobucks balance.
• Walking feature: A health-related reward system integrated with third-party health tracking apps on iOS and Google Play, allowing users to earn Mobucks (MBX) by tracking their steps.
• Scratch ‘em all: A promotional feature available on the Modak app that rewards kids for making purchases using their MoCard. Each eligible transaction unlocks a surprise card, which can be scratched to reveal a reward, such as Mobucks (MBX), a fun picture (like a cat or dog), or even AirPods.
• Support Team: Modak's dedicated support department.

5. Responsibilities

• Users: Responsible for engaging with the platform to earn Mobucks.
• Support Team: Responsible for addressing user inquiries and concerns related to Mobucks via email at hi@modakmakers.com and chat in our app. 

6. How to Earn Mobucks

a. Daily Mobucks: Users can visit our 'Daily Mobucks' section and scratch a virtual card each day to receive a random amount of Mobucks.

b. Challenges: Completing weekly challenges within our 'Achievements' section will earn users a specific number of Mobucks for each completed task.

c. Walking feature: For every 5,000 steps, users earn 10 MBX. The customer has to open the app and go to the walking section to be able to unlock the reward daily. 

d. Scratch ‘em all: Rewards kids for making purchases using their MoCard. Each eligible transaction unlocks a surprise card, which can be scratched to reveal a reward, such as Mobucks (MBX), a fun picture (like a cat or dog), or even AirPods. Surprise cards expire within 7 days of the transaction or at the end of the day for daily cards. The rewards and chances of winning vary based on the amount spent, with higher purchases increasing the likelihood of winning AirPods.

e. Surveys: Kids can earn Mobucks (MBX) by completing surveys available on the Modak platform. These surveys are designed to gather feedback on various topics and offer users a chance to earn MBX as a reward for their participation. The amount of MBX earned will vary based on the survey's length and complexity. Participation in surveys is voluntary, and users will be notified of available surveys through the Modak app.

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7. Checking Your Mobucks Balance

Users can conveniently check their Mobucks balance in two different sections within our app:

• MBX balance: The “Rewards” section displays the user's total balance and the number of Mobucks received or sent each day.
• MBX transactions: The transaction section allows the user to track incoming rewards and MBX exchanges into dollars.
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8. Compliance and Enforcement

Compliance with this policy will be monitored by our Support Team. Non-compliance may result in the suspension or forfeiture of Mobucks. All decisions made by Modak regarding compliance are final.

9. Review and Revision

This policy will be reviewed periodically to ensure it remains up-to-date and aligned with Modak's practices. Users will be notified of any revisions.

10. Contact Information

If you have any questions or concerns regarding Mobucks, please contact our Support Team at hi@modakmakers.com 

11. Effective Date

This Mobucks Policy is effective from July 1st, 2022.

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