Last Updated Date: 18 July 2023
For purposes of these Terms, the Website, the pSTAKE Protocols and pSTAKE Deployed Chains (to the extent pSTAKE is deployed or integrated to such pSTAKE Deployed Chains) shall be collectively referred to as “pSTAKE”. By accessing and/or using pSTAKE, you (“you” or the “User”) agree to these Terms on behalf of yourself and any entity you represent, and you represent and warrant that you have the right and authority to do so.
pSTAKE is not intended for (a) access and/or use by Excluded Persons (as defined below); or (b) access and/or use by any person or entity in, or accessing or using the Website from, an Excluded Jurisdiction. Accordingly, Excluded Persons (as defined below) should not access and/or use pSTAKE.
The Website is owned and operated by PSTAKE Sub One Ltd (“Company”), an entity formed under the laws of the British Virgin Islands and the pSTAKE Protocols (as defined below) are copyrighted works belonging to the Company and/or its Affiliate(s) (each of User and Company, a “Party”, and collectively, the “Parties”).
You acknowledge that you shall be deemed to have accepted these Terms by accessing and/or using pSTAKE–whether by Website Access or Direct Access.
Company reserves the right to change these Terms in its sole discretion from time to time. The “Date Last Revised” specified on these Terms indicates the date on which the Terms were last changed. You will be notified of those changes and given the opportunity to review and accept the updated Terms when you next access and/or use pSTAKE. Your acceptance of, and/or your continued access and/or use of pSTAKE following notice of, the updated Terms shall indicate your acknowledgement of, and agreement to be bound by, such updated Terms.
By accessing the Website, you acknowledge and agree that you are dealing solely with the Company as counterparty in respect of your use of pSTAKE, which shall supersede and replace all prior agreements and counterparty relationships entered into with any of the Company’s Affiliates in respect of such use.
1. Overview of pSTAKE
1.1 pSTAKE has been developed by Company to enable Users to undertake any one or more of the following (“pSTAKE Activities”):
1.2 pSTAKE enables Users to undertake pSTAKE Activities through the use computer code written based on various blockchain standard and programming languages (collectively, “pSTAKE Protocols”) as developed and published by Company or its Affiliate(s) at pSTAKE’s official Github page (“Github Page”).
1.3 For purposes of these Terms:
a reference to:
1.4 Website Access
1.5 Direct Access
1.6 pSTAKE Protocols.
1.7 Transaction Fees.
2. Using pSTAKE
2.1 Liquid Staking
3. Representations and Warranties
3.1 In accessing and/or using pSTAKE and/or connecting a Supported Wallet to pSTAKE, User makes the following representations and warranties:
Each and all of User’s above representations and warranties are true, complete, accurate and not misleading from the time of User’s acceptance of these Terms and are deemed repeated each time User uses pSTAKE.
3.2 By accessing and/or using pSTAKE, User acknowledges and accepts that the pSTAKE Group shall not be liable to User for the deployment and maintenance of pSTAKE and/or any malfunction thereof.
3.3 Company may, in its sole discretion, modify or discontinue support (to the extent it is able to or practically able to) for pSTAKE and/or access to the pSTAKE Protocols at any time.
3.4 User shall be responsible for obtaining the data network access necessary to use and/or access pSTAKE, and for acquiring compatible hardware or device necessary to access and use pSTAKE and any updates thereto.
3.5 Use of pSTAKE may be disrupted as a result of malfunction and/or delays which are inherent to the use of the internet and electronic communications, and User agrees that the pSTAKE Group shall not be responsible for any such disruption, malfunction and/or delay, and any loss which may arise therefrom.
3.6 The Website and its contents are our property or the property of our licensors and are protected by copyright, trademark, patent and other applicable laws. User is permitted to download and print content from the Website solely for such User’s own personal use to the extent required to access and use the tools and information made available via the Website. Unless with our prior written consent, the Website and its contents must not be reproduced, modified, redistributed or otherwise used for any other reason.
3.7 User shall not modify, adapt or hack the Website and/or pSTAKE, or modify any other website and/or protocol so as to falsely imply that such other website and/or protocol is associated with the Website and/or pSTAKE and/or its Affiliates (as defined below) in any way. User shall not crawl, scrape, cache or otherwise access any content from the Website via automated means, and User shall not use automated data collection, data mining, robots or any other data gathering methods of any kind on the Website and/or pSTAKE.
3.8 User may, through hyperlinks displayed on the Website, gain access to websites operated by persons other than pSTAKE. Such hyperlinks are displayed only for User’s convenience, and we assume no responsibility for the use of any third-party software or other materials on the Website.
4. Excluded Person and Excluded Jurisdiction
For purposes of these Terms:
4.1 “Excluded Jurisdiction” means any of the following jurisdictions:
4.2 “Excluded Persons” refers to the following:
4.3 “U.S. person” means:
but does not include :
5. Prohibited Use
For purposes of these Terms:
5.1 access and/or use pSTAKE:
5.2 permit others to access pSTAKE through User’s wallet or a blockchain address User controls or otherwise engage in transactions using pSTAKE for any person other than the wallet owner;
5.3 disrupt, interfere with, or otherwise adversely affect the normal flow or function of pSTAKE or otherwise act in a manner that may negatively affect other users’ experience when using pSTAKE, and User shall not take advantage of software vulnerabilities and any other act that intentionally abuses or exploits the design and functions of pSTAKE;
5.4 engage in, or knowingly facilitate, any fraudulent, deceptive, or manipulative transaction activity in connection with User’s use of pSTAKE;
5.5 engage in, or knowingly facilitate, any money laundering, terrorist financing, or other illegal activities using pSTAKE;
5.6 access or attempt to access non-public systems, programs, data, or services using pSTAKE;
5.7 copy, reproduce, republish, upload, post, transmit, resell, or distribute in any way, any data, content, or any part of pSTAKE except as expressly permitted by applicable laws; and
5.8 reverse engineer or attempt to reverse engineer pSTAKE except as expressly permitted by applicable law, (collectively, “Prohibited Uses”)
6.1 User agrees and acknowledges that neither pSTAKE nor any of our Affiliates (as defined below) shall be liable to User for any direct, indirect, special, incidental, consequential or other losses of any kind, in tort, contract or otherwise (including but not limited to loss of revenue, income or profits, and loss of use or data), arising out of or in connection with User’s access and/or use of pSTAKE.
6.2 User undertakes not to initiate or participate, and waives the right to participate in, any class action lawsuit or a class-wide arbitration against pSTAKE and/or our Affiliates in relation to User’s access and/or use of pSTAKE.
6.3 By accepting these Terms, User waives all rights, claims and/or causes of action (present or future) under law (including any tortious claims) or contract against the pSTAKE Group and its Affiliates in connection with User’s access and/or use of pSTAKE.
7.1 These Terms shall remain in full force and effect and be legally binding on User for so long as User accesses and/or uses pSTAKE.
7.2 The pSTAKE Group may restrict, suspend and/or terminate User’s access and/or use of pSTAKE at any time for any reason and to such extent at pSTAKE Group’s sole discretion.
7.3 Neither the Company nor any of our Affiliates will have any liability whatsoever to User for any such restriction, suspension and/or termination or for any action taken by the Company and/or any of our Affiliates to implement such restriction, suspension and/or termination which can include blacklisting User’s Supported Wallet which User uses to access and/or use pSTAKE.
7.4 Sections 3 to 10 of these Terms shall remain in effect in favour of the Company and its Affiliates (as the case may be) notwithstanding any such restriction, suspension and/or termination.
8.1 In accessing and/or using pSTAKE, User acknowledges and agrees that:
8.2 THE PSTAKE GROUP DOES NOT ENDORSE ANY THIRD PARTY AND SHALL NOT BE RESPONSIBLE IN ANY WAY FOR ANY TRANSACTIONS YOU ENTER INTO WITH ANY OTHER THIRD PARTY.
8.3 YOU ACKNOWLEDGE AND AGREE THAT NEITHER THE COMPANY NOR ANY OF ITS AFFILIATES WILL BE LIABLE TO YOU FOR ANY LOSS OR DAMAGES OF ANY SORT INCURRED AS THE RESULT OF ANY INTERACTIONS BETWEEN YOU AND ANY THIRD PARTY.
9. Limitation of Liability
9.1 TO THE MAXIMUM EXTENT PERMITTED BY LAW, IN NO EVENT SHALL PSTAKE AND/OR ANY OF OUR AFFILIATES BE LIABLE TO USER OR ANY THIRD PARTY FOR ANY LOST PROFITS, LOST DATA, OR ANY INDIRECT, CONSEQUENTIAL, EXEMPLARY, INCIDENTAL, SPECIAL OR PUNITIVE DAMAGES ARISING OUT OF USER’S ACCESS AND/OR USE OF PSTAKE, EVEN IF THE COMPANY AND/OR ANY OF ITS AFFILIATES HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.
9.2 USER’S ACCESS TO AND/OR USE OF PSTAKE IS AT USER’S OWN DISCRETION AND RISK, AND USER WILL BE SOLELY RESPONSIBLE FOR ANY DAMAGE TO USER’S DEVICE OR COMPUTER SYSTEM, OR LOSS OF DATA RESULTING THEREFROM.
9.3 NEITHER THE COMPANY NOR ANY OF ITS AFFILIATES SHALL BE LIABLE TO USER FOR ANY LOSS OR DAMAGE ARISING OUT OF USER’S FAILURE TO KEEP USER’S PRIVATE KEYS OR LOGIN CREDENTIALS TO USER’S WALLET SECURE OR ANY OTHER UNAUTHORIZED ACCESS TO OR TRANSACTIONS INVOLVING USER’S WALLET.
9.4 TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, NOTWITHSTANDING ANYTHING TO THE CONTRARY CONTAINED HEREIN, THE LIABILITY OF THE COMPANY AND/OR ANY OF OUR AFFILIATES TO USER FOR ANY CLAIM BY USER FOR DAMAGES ARISING FROM OR RELATED TO USER’S ACCESS AND/OR USE OF PSTAKE:
WILL AT ALL TIMES BE LIMITED TO A MAXIMUM OF USD100. THE EXISTENCE OF MORE THAN ONE CLAIM BY USER WILL NOT ENLARGE THIS LIMIT.
10.1 User shall indemnify and hold the Company and/or any of our Affiliates, each of their respective employees, officers, directors and representatives (collectively, “Indemnified Party”), harmless, including costs and attorneys’ fees, from any loss, claim or demand made due to or arising out of:
10.2 The relevant Indemnified Party reserves the right, at User’s expense, to assume the exclusive defence and control of any matter for which User is required to provide indemnification, and User agrees to cooperate in the defence of these claims. User shall not settle any matter without the prior written consent of the relevant Indemnified Party. The relevant Indemnified Party will use reasonable efforts to notify User of any such claim, action or proceeding upon becoming aware of it.
11. Tax Implications
User is solely responsible for determining the tax implications and tax reporting requirements associated with transactions User engages in using pSTAKE, and for paying any applicable taxes in each applicable jurisdiction. Neither pSTAKE nor any of our Affiliates shall be responsible for determining whether there are tax implications in connection with transactions involving User’s use of pSTAKE, for reporting any such transactions, or for paying any applicable taxes.
12. Potential Risks Associated with Use of pSTAKE
User acknowledges and agrees to the following:
12.1 pSTAKE allows User access to the pSTAKE Smart Contract to engage in aforementioned activities on User’s own account and at User’s own risk.
12.2 Using digital assets, staking, providing liquidity and/or other forms of interfacing with digital assets entails a high financial risk. User has necessary experience and knowledge to understand the risks involved. User should carefully assess User’s financial circumstances and risk tolerance and where appropriate, seek third party financial advice before engaging in the aforementioned activities.
12.3 Nothing in these Terms or the Website shall be construed as:
12.4 Like all software, pSTAKE may be subject to exploits, accordingly, neither the Company nor any of its Affiliates shall be responsible to User any such exploits or loss to User as a result of such exploits, whether foreseeable or not.
12.5 While the Company has taken a number of precautions to ensure the security of pSTAKE including obtaining third-party security audits, the technology constituting pSTAKE, and their interaction, is relatively new and it is not possible to guarantee that the code is completely free from bugs or errors.
12.6 User accepts all risks that arise from User’s access and/or use of pSTAKE, including and not limited to, the risk of any of pSTAKE Supported Tokens being lost due to a failure or exploit of pSTAKE.
12.7 User is solely responsible for securing the private keys associated with any Supported Wallet which User uses when accessing and/or using pSTAKE.
12.8 User understands that anyone who obtains User’s private keys to User’s Supported Wallet and/or access to User’s device containing such private keys, may access User’s Supported Wallet controlled with those private keys with or without User’s authorisation and may transfer any pSTAKE Supported Tokens accessible through User’s Supported Wallet.
12.9 In choosing to access and/or use pSTAKE, User does so on User’s own initiative and at User’s own risk, and User is responsible for complying with all applicable local laws, rules and regulations relating to User’s access and/or use of pSTAKE.
12.10 Support for the pSTAKE may be modified or discontinued at any time in pSTAKE Group’s sole discretion.
12.11 In the event of a change in the operating rules or other features of the relevant code (“Fork”) that may result in more than one version of a network (“Forked Network”) and more than one version of a digital asset (“Forked Asset”), pSTAKE may not support activity related to any Forked Assets. Forked Networks and the available supply of any Forked Assets are wholly outside pSTAKE Group’s control. In the event of a Fork, pSTAKE Group may temporarily suspend certain services on the Website (with or without advance notice to User) while it is determined which Forked Network(s) to support. pSTAKE Group shall not be responsible for a lack of support for any Forked Asset.
12.12 By using pSTAKE, User is using pSTAKE “as is” and “as available” with no representations or warranties whatsoever. To the maximum extent permitted by law, neither the Company nor any of its Affiliates makes any express or implied representations and warranties, including implied representations or warranties of accuracy, merchantability, fitness for a particular purpose and non-infringement in relation to pSTAKE. Neither the Company nor any of its Affiliates is responsible or liable for any error, delay or interruption in or lack of access to pSTAKE or for any loss of digital assets (including but not limited to pSTAKE Supported Tokens) occasioned by or attributable to the pSTAKE.
12.13 Any acquisition, holding or disposal by you of PSTAKE Tokens is solely in relation to your participation in governance of pSTAKE and not for any other purpose, including investments. You further acknowledge and agree not to acquire, hold, and/or dispose PSTAKE Tokens if doing so is prohibited or subject of compliance in the relevant jurisdiction applicable including circumstances where your interaction in PSTAKE Tokens results in PSTAKE Tokens and/or your activities associated with PSTAKE Tokens be construed by applicable laws and regulations (including but not limited to securities laws) as a regulated activity, whether or not such regulations require the Company and/or its Affiliates be registered, licensed or approved in connection with the activities described in the foregoing of this Section 12.13 or the pSTAKE Activities.
13. Electronic Communications
13.1 The communications between User and the Company shall be via electronic means, either through the Website or electronic mail.
13.2 For contractual purposes, User:
14.2 Severability- If any provision of these Terms is, for any reason, held to be invalid or unenforceable, the other provisions of these Terms will be unimpaired and the invalid or unenforceable provision will be deemed modified so that it is valid and enforceable to the maximum extent permitted by law.
14.3 Relationship of Parties - Nothing contained in these Terms will be deemed to be construed as creating a partnership or an agency relationship or joint venture between User, the Company and/or any of our Affiliates.
14.4 Assignment- These Terms, and User’s rights thereunder, may not be assigned, without the Company’s prior written consent, and any attempted assignment, subcontract, delegation, or transfer in violation of the foregoing will be null and void. The Company may freely assign these Terms and our respective rights thereunder.
14.5 Waiver- A waiver by the Company of any right or remedy under these Terms shall only be effective if it is in writing, executed by a duly authorized representative of the Company and shall apply only to the circumstances for which it is given. Failure of the Company to exercise or enforce any right or remedy under these Terms shall not operate as a waiver of such right or remedy, nor shall it prevent any future exercise or enforcement of such right or remedy, and no single or partial exercise of any right or remedy shall preclude or restrict the further exercise of any such right or remedy or other rights or remedies.
14.6 No Third-Party Rights - Save for the Company’s Affiliates who shall have the rights and benefits to the extent accorded thereto under these Terms, any person who is not a Party shall have no right under the Contracts (Rights of Third Parties) Act 2001 of Singapore to enforce any of these Terms.
14.7 Governing Law and Jurisdiction- The agreement as shall be constituted by User’s acceptance of these Terms, and any dispute or claim arising out of or in connection with the subject matter or formation (including non-contractual disputes or claims) of such agreement, shall be governed by and construed in accordance with the law of Singapore. The Parties agree that any dispute or claim arising out of or in connection with the subject matter or formation (including non-contractual disputes or claims) of these Terms shall be by arbitration, and judgment upon the award may be entered by any court having jurisdiction thereof or having jurisdiction over the relevant Party or its assets. The arbitration shall be conducted under the rules of the Singapore International Arbitration Centre (“SIAC”). The arbitral tribunal shall consist of a sole arbitrator to be appointed by the President of the SIAC. The seat of the arbitration shall be Singapore. The language of the arbitration shall be English. The arbitration agreement shall be governed by Singapore law.
14.8 Severability - If any provisions of these Terms are found by any court or tribunal of competent jurisdiction to be invalid, void, unlawful or unenforceable under any applicable law, such unenforceability or invalidity shall not render these Terms unenforceable or invalid as a whole, and such provisions shall be deleted without affecting the remaining provisions herein.
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