Staking Platform Terms and Conditions
These Terms and Conditions ("Terms") apply to the usage of the platform ("Platform") available on [link], and the provided interface (the "Services") to interact with staking functions with certain cryptographic fungible tokens and non-fungible tokens (together "Tokens") operated and performed by the Genius Yield Association, Bösch 73, 6331 Hünenberg, Switzerland ("GYA").
To access and use the Services, you ("User") must agree to and abide by these Terms. These Terms incorporate by reference explicitly mentioned provisions available on the Platform and constitute a legally binding agreement ("Agreement") between GYA and the User (each separately "Party" and together "Parties").
You shall not access the Platform and use the Services if you do not agree to these Terms.
- Registration & Access to the Services
The Platform and Services will be accessible to the User in their then-current version and according to these Terms. An overview of provided Services, fees, and specific instructions on how to use the Services can be found once the User registers for the Services. The User must register and pass the GYA know-your-customer process, if any, to access the Platform and use the Services. All information provided by the User must be complete, accurate, and truthful at all times. If any of the User's information changes, the User must update such information immediately.
The Services solely provide the Platform and the interface to facilitate the interaction with the staking mechanism. However, in order to stake, the User must create a staking vault ("Staking Vault") by connecting their Cardano wallet. The User may create multiple Staking Vaults.
After creating a Staking Vault, the User may deposit GENS or other Tokens as available for the particular project (together "Staking"). Users can decide how long the Tokens will be locked in the Staking Vault ("Lock Period"). The Staking Vaults and the Staking is governed by a decentralized smart contract system, and GYA does not have access to the tokens deposited in the Staking Vault (i.e., does not have the power of disposal over the collected funds) and does not use the deposited tokens in any way. It is the User's sole responsibility to keep the access keys to their Cardano wallet linked to the Staking Vault safe. A loss of the access keys results in the loss of all staked Tokens and GYELD has no possibility of recovering such Tokens.
Once the Lock Period is over, the User may unstake the Staking and withdraw their rewards or stake the reward back to the Stacking Vault. Rewards are paid in GENS tokens and will be transferred immediately upon unstaking to the User's wallet. The Annual Percentage Yield is based on the Lock Period of the Staking.
- Rights & Obligations of GYA
GYA uses reasonable care and skill in the performance of the Services and in keeping the Services free from viruses and other malicious software programs.
GYA reserves the following rights:
- Right to engage subcontractors or third-party service providers for delivering parts of the Services;
- Right to amend the Terms, including the applicable fees, from time to time at its sole discretion by publishing an updated version of the Terms on the Platform. Such changes will be effective from the date of publication.
- Rights & Obligations of the User
The access and use of any Services and Staking Vaults is entirely at the User’s own risk and could lead to substantial or complete loss of funds. To assess the viability, risks, and suitability of the Staking Vaults lies is the User's sole responsibility.
The Platform and Services may only be used by persons that are at least the age of majority (and in any case at least eighteen years old) and have the full right, power, and authority to enter into and comply with the terms and conditions of these Terms.
The User represents that the access and use of the Services will fully comply with all applicable laws and regulations, and that the User does not access or use the Services to conduct, promote, or otherwise facilitate any illegal activity. The User further represents that the User is not a resident of any country which accessing or using the Services Protocol is or may be prohibited (“Prohibited Jurisdictions”).
The User agrees to use the Services in compliance with the Terms and legal and moral obligations applicable in the territory where they are located.
The User is personally responsible for its use of the Services and for entering and maintaining any data and information in the course of the use of the Services.
The User must protect any account credentials and may not share them with any third person. The User must immediately inform GYA of all circumstances within its sphere that might endanger or may be relevant to the providing the Services and all misuses or suspicions of misuse of the Services or User's credentials. For the avoidance of doubt, GYA can reinstate the User's access to the Platform but not to the Staking Vault. It is the sole responsibility of the User to keep the private key for its Cardano wallet safe.
In addition to other restrictions set forth in these Terms, the User is expressly restricted from:
- modifying, copying, distributing, reproducing, or using in any other way any information or other content, text, graphics, images, or software obtained from the Services for commercial or public purposes without GYA's prior written permission;
- engaging in any data mining or any other similar activity in relation to the Services;
- accessing the Services via any automated system or taking any action that may impose an unreasonable load on our infrastructure;
- bypassing the measures that GYA may use to prevent or restrict access to or use of the Services, including by hacking into secured areas of the Services, circumventing any geo-blocking mechanisms, or otherwise;
- attempting to reverse engineer any part of the Services, derive the source code, or create any derivative works or materials of any kind using the content provided via the Services;
- exploiting the Services to access unauthorized information.
The User bears the sole responsibility to determine if its participation in the Staking or any other action or transaction related to the Services has tax implications for the User.
The User should check the Terms regularly, and if any changes to the Terms have been made, only use the Services upon acceptance of the changes to the Terms. The User's continued use of the Services following any amendments indicates acceptance of the changes to the Terms.
- Fees & Payment
The use of Services and claiming rewards may be subject to payment of the fees as indicated on the Platform or in the respective project. The exact fees will be clearly communicated to the User at the time of Staking, resp. claiming reward. The fees are charged automatically and, except where prohibited by law, non-cancellable and non-refundable. Fees are generally stated exclusive of VAT and other taxes, if any.
The User acknowledges that other fees not imposed by GYA, such as the Cardano transaction fee, may apply.
- Term & Termination
The Agreement between the Parties remains in full force and effect for the duration of the Services or until terminated by one of the Parties.
Either Party may terminate the Agreement at any time. Termination does not affect any rights, obligations, or liabilities of either Party that have accrued before or are intended to stay effective beyond the termination, including the obligation to pay any outstanding fees for Services delivered up to the effective termination date.
GYA reserves the right to stop providing Services, and terminate the Agreement in case the User provided false or incorrect information, breached the Agreement, or uses the Services in a breach of law, or for an illegal purpose.
For the avoidance of doubt, User can directly interact with the Staking Vault set up by GYA independently of the Platform in case of termination or bankruptcy of GYA.
- Intellectual Property
GYA retains all rights, titles, and interests to its own intellectual property, including all copyrights, inventions, trademarks, designs, domain names, know-how, trade secrets, data, and other intangible property and other rights in the Platform, Services, or any part of it.
- No Warranty & Limited Liability
The Platform and Services, together with all content, data, information, and materials contained therein, are provided 'as is' and 'as available' without warranties or representations of any kind. GYA regularly carries out maintenance or improvements to the Platform and its infrastructure but does not guarantee that the Services will function without any interruption or disruption. The User acknowledges that this may result in temporary delays and interruptions from time to time.
The User further acknowledges and agrees that GYA is not representing or warranting any particular feature of the Platform and will not be held liable for any incompatibility of the information published on the Services with the specific objectives that the User is hoping to achieve or any damages arising from it. Neither the Services nor any information or data contained therein constitute financial, investment, tax, legal, accounting, or other advice.
The User herewith waives any claim related to misrepresentations or breaches of warranties it may have under the applicable law.
The Services may contain statements that constitute "forward-looking statements." GYA is under no obligation to update or alter its forward-looking statements, whether as a result of new information, future events, or otherwise, and makes no warranty regarding the accuracy of such statements.
To the extent permitted by applicable law, the liability of GYA, its affiliates, or any of its directors, employees, contractors, service providers, or agents is limited to willful misconduct, gross negligence, and personal injury. Any further liability of the GYA under any title is explicitly excluded.
The User agrees to fully indemnify GYA from and against any liability, costs, demands, causes of action, damages, and expenses arising in any way related to the User's breach of any of the provisions of the Agreement.
- Data Protection
The User authorizes GYA to use, process, and store relevant data for the performance of the Agreement and to use anonymized data to improve its services or for analysis purposes.
Notices: Notices must be given in text form and need to be communicated:
- To the User's attention: by publishing on the Platform.
No Assignment: The User may not assign any of its rights, obligations, or claims under the Agreement without the previous consent of GYA.
Severability: If any provision of these Terms (in whole or part) is held to be illegal, invalid, or otherwise unenforceable, the other provisions will remain mutatis mutandis in full force and effect.
Conflict with Additional Terms: Certain web pages or parts of the Services may be governed by specific terms. In case of a conflict between these Terms and any specific terms, the specific terms prevail.
Links: The Services may contain third-party content or links to third-party websites. GYELD does not assume any responsibility for and does not make any warranties or representations as to any third-party content or websites, including but not limited to the accuracy, subject matter, quality, or timeliness.
Governing Law & Jurisdiction: The Agreement, and all claims based upon, arising out of, or in relation to the Agreement are governed by and construed in accordance with the substantive laws of Switzerland, excluding its conflict of law provisions and the United Nations Convention on Contracts for the International Sale of Goods (CISG). The ordinary court at the seat of GYA has exclusive jurisdiction for all disputes arising from or in connection with the Terms.