Terms of Staking Services

Revised 10-12-21 

Introduction

These Terms and Conditions (“Agreement”) are a legal agreement that explain the terms and conditions that all Delegators to the staking Service (“You”, or “Your”) must comply with when using the service. By using the staking Service, You agree to abide by all of the terms and conditions in this Agreement.

These Terms and Conditions outline the rules and regulations for the use of the ImStaked staking Service. PLEASE READ THIS AGREEMENT CAREFULLY because it affects Your rights and liabilities under the law. By using or accessing the staking Service, You confirm that You have read and agreed to be bound by this Agreement. If You do not agree with this Agreement, You cannot use or access the Service.

Definitions

The following terminology applies to these Terms of Service, and any or all agreements:

  • “Company,” “Us,” “We,” and “Our” refers to ImStaked and its employees / contractors
  • “Service”, “Staking Service” and “Services” refers to all staking pools operated by ImStaked
  • “Party” refer to either You, or Us, or any other party to this Agreement. “Parties” refer to both You and Us.
  • “You”, “Your” and “Delegate” refer to the visitor, user, client, customer or person accessing the service and thus accepting this Agreement.
  • Not your keys not your coins

     

Features of the Service

  • Your keys your coins.
  • We are obligated to provide 2 epochs notice (30 days) to all delegates via our website before increasing the pool operator fee.
  • Your tokens can be delegated or re-delegated at the your discretion.
  • We charge no fees for our services.
  • We will pay rewards accumulated by you until Your delegation rights transfer from Us.
  • The Service will be operated in a diligent and professional manner and in accordance with applicable industry standards.
  • Reasonable security safeguards will be employed by Us to protect the integrity and availability of Service, and to avoid missed block production.
  • Funds are not locked and are not subject to slashing. 

 

Rewards

  • Rewards payments will be calculated per block produced using the current staking ledger 
    A copy of the latest staking ledgers can be found –> here
  • The frequency of payments to Delegates will be as frequently as network conditions, and the resulting transaction fees if any, permit
  • We TRY to ensure all rewards are sent within 2 hours of block production, no promises
  • We will send all rewards before the end of an epoch unless the block is produced within 2 hours of the end of the epoch in this case we will make our best effort. (see above)

– MINA rewards are calculated using the formulas below

– Non-Supercharged ( 720 MINA )
Delegates = %of pool stake as decimal times 720 (Ex: 2.9% = .029 * 720)

– Supercharged (1440)
Winning Account = 500
Delegates = %of pool stake as decimal times 940

– TX Fees From Block Production 
If ( TX FEES – SNARK COST ) > Our Cost to send Delegate Payments
Any remaining tokens are split between ImStaked and the pool delegate with the lowest balance

– Snark Fees
Help to pay for our TX fees

Acceptable Use

  • We will not be held liable should the Service be unavailable for any amount of time resulting in missed block production
  • You will comply with any and all applicable laws regarding your use of the Service
  • You must use our Service for lawful purposes only
  • You are responsible for the safety and security of your own private keys. We will not hold Delegate’s private keys and will never ask for private keys in any circumstances
  • You are of a sufficient age to use the Service
  • You bear the sole responsibility for determining if using the Service and/or any other action or transaction have tax implications
  • You are expected to have knowledge of blockchain technology, smart contracts, staking, accounts, keys, and details of the blockchain network being used

 

Termination

  • You may terminate the Service at any time. We will pay rewards accumulated by you until your delegation rights transfer from us.

Indemnity

You agree to defend, indemnify and hold Us and any of Our affiliated company or individual harmless from any and all liabilities, costs, and expenses, including reasonable attorneys’ fees, related to or in connection with (a) the use of the service; (b) Your violation of any term of this Agreement, including without limitation, Your breach of any of the Representations and Warranties above; (c) Your violation of any third party right, including without limitation any right of privacy, publicity rights or Intellectual Property Rights; (d) Your violation of any law, rule or regulation of Canada or any other country; (e) any claim or damages that arise as a result of any User Content that You provide to Us; or (f) any other party’s access and use of the Service by obtaining your private key.

Release

In the event that You have a dispute with one or more other users, or clients of the Service, You release Us (and Our officers, directors, agents, subsidiaries, joint ventures and employees) from claims, demands and damages (actual and consequential) of every kind and nature, known and unknown, suspected and unsuspected, disclosed and undisclosed, arising out of or in any way connected with such disputes.

Revisions

This Agreement is subject to Our revision and changes from time to time. Your continued use of the Service after the revision and changes will mean that You agree, without qualification, to the revised Agreement.

It is Your responsibility to remain apprised of any revisions to this Agreement and to remain in compliance therewith.

Changes to the Agreement will be posted on this website and We will notify Delegates whenever possible.

Force Majeure

We shall not be responsible for damages or for delays or failures in performance resulting from acts or occurrences beyond Our reasonable control, including, without limitation: fire, lightning, explosion, power surge or failure, water, acts of God, war, revolution, civil commotion or acts of civil or military authorities or public enemies; epidemics, pandemics; any law, order, regulation, ordinance, or requirement of any government or legal body or any representative of any such government or legal body; or labor unrest, including without limitation, strikes, slowdowns, picketing, or boycotts; inability to secure raw materials, transportation facilities, fuel or energy shortages, or acts or omissions of other common carriers.

Disclaimer

YOUR USE OF THE SERVICE IS AT YOUR OWN RISK. THE INFORMATION, MATERIALS AND SERVICES PROVIDED ON OR THROUGH THE WEBSITE ARE PROVIDED AS IS WITHOUT ANY WARRANTIES OF ANY KIND INCLUDING WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, SECURITY OR NON-INFRINGEMENT OF INTELLECTUAL PROPERTY. NEITHER WE NOR ANY OF OUR AFFILIATES WARRANT THE ACCURACY OR COMPLETENESS OF THE INFORMATION, MATERIALS OR SERVICES PROVIDED ON OR THROUGH THE WEBSITE. THE INFORMATION, MATERIALS AND SERVICES PROVIDED ON OR THROUGH THE WEBSITE MAY BE OUT OF DATE, AND NEITHER US, NOR ANY OF OUR AFFILIATES MAKE ANY COMMITMENT OR ASSUME ANY DUTY TO UPDATE SUCH INFORMATION, MATERIALS OR SERVICES. THE FOREGOING EXCLUSIONS OF IMPLIED WARRANTIES DO NOT APPLY TO THE EXTENT PROHIBITED BY LAW. PLEASE REFER TO YOUR LOCAL LAWS FOR ANY SUCH PROHIBITIONS.

General

Jurisdiction and Choice of Law. Any claim relating to and the use of, this Service and the materials contained herein is governed by the laws of Arkansas, USA

Entire Agreement. This Agreement and the other agreements stipulated to be incorporated herein are the entire agreement between You and Us and supersede any prior understandings or agreements (written or oral).

Severability. If any provision of this Agreement is held to be invalid or unenforceable, such provision shall be struck and the remaining provisions shall be enforced.

Assignment. You agree that this Agreement and all incorporated agreements may be automatically assigned by Us in Our sole discretion. You cannot assign this Agreement without Our written consent.

Headings. Headings are for reference purposes only and in no way define, limit, construe or describe the scope or extent of such section.

No Waiver. Our failure to act with respect to Your or others’ breach does not waive Our right to act with respect to subsequent or similar breaches.

Survival. Clauses “Trademarks/No Endorsement”, “Advertising Rights”, “Intellectual Property Rights”, “DISCLAIMERS”, “LIMITATIONS OF LIABILITY”, “Indemnity”, “Release”, “Communications”, and “Dispute Resolution and Arbitration” shall survive any termination or expiration of this Agreement.

Contact Us

If You do not understand any of the foregoing terms and conditions or if You have any questions or comments, please contact Us through our contact form.

YOU ACKNOWLEDGE THAT YOU HAVE READ THESE TERMS, UNDERSTAND THE TERMS, AND WILL BE BOUND BY THESE TERMS. YOU FURTHER ACKNOWLEDGE THAT THESE TERMS REPRESENT THE COMPLETE AND EXCLUSIVE STATEMENT OF THE AGREEMENT BETWEEN US AND THAT IT SUPERSEDES ANY PROPOSAL OR PRIOR AGREEMENT ORAL OR WRITTEN, AND ANY OTHER COMMUNICATIONS BETWEEN US RELATING TO THE SUBJECT MATTER OF THIS AGREEMENT.