# Terms of Service (Staking)
These Terms of Service(“**Terms**” or “**Agreement**“) describe and govern the **Services** provided by Stake Solutions Inc. under the Speedy Staking name **(“Company”)** to user (“**User**“).
By Staking Tokens to **Validator Nodes** operated by **Company**, **User** agrees to be bound by the terms of this Agreement. If **User** disagrees with, does not understand, or cannot comply with all of the terms of this Agreement, **User** must not **Stake** its Tokens to **Validator** **Nodes** operated by **Company**.
Please read this agreement carefully before **Staking Tokens** to **Validator** **Nodes** operated by **Company**. No signature of either **Party** is required for this **Agreement** to be legally binding against each **Party,** and this **Agreement** is legally binding on the **Effective Date** (as defined below).
Please get in touch with us at **** for any questions or issues.
In consideration of the mutual agreements contained below, **Company** and **User** hereby agree to the following:
**1. Definitions**
The capitalised terms used in this **Agreement** have the meanings ascribed to them in this section or where they are elsewhere defined in these **Terms**. Any term defined in the singular form will have the corresponding definition in the plural form (and vice versa). As used in these **Terms**:
**“Active Set”** means those **Validator** **Nodes** with sufficient **Tokens Staked** on the **Network** to actively participate in consensus block production.
**“Applicable Law”** means any applicable national, provincial, international, federal, state, county, and local statute, law, ordinance, regulation, rule, code, and order issued by any governmental authority.
**“Blockchain“** means a digital ledger in which transactions made with a **Cryptocurrency** are recorded chronologically.
**“Cryptocurrency”** or **“Token”** means a digital currency in which transactions are verified, and records are maintained by a decentralised system using cryptography rather than a centralised authority.
**“Channels”** means Company’s website, Telegram Group and Twitter.
**“Effective Date“** means the date you **Stake** your **Tokens** to a **Validator Node** operated by **Company**.
**“Governmental** **Agencies”** means any nation or government, any state or other political subdivision thereof, and any entity exercising legislative, judicial or administrative functions of or pertaining to government, including, without limitation, any government authority, agency, department, board, commission or instrumentality, and any court, tribunal or arbitrator(s) of competent jurisdiction, and any self-regulatory organisation.
**“Network”** means any PoS-blockchain on which **Company** operates a **Validator** **Node**.
**“Party”** means Company or **User**, as applicable, and **“Parties“** means Company and **User** collectively.
**“Rewards”,** or **“Staking Rewards”** means any **Tokens** granted by the **Network** to the **Validator Node** as a result of **Validation Operations**, including, but not limited to, block rewards and transaction fees granted by the **Network** and received by Company or **User**, as applicable, in connection with the performance of the **Validation Operations**.
**“Service Fees”** or **“Commission”** means the amount paid to **Validator Nodes** by **Networks** for providing **Validation** **Operations** on the **Network**, usually expressed as a percentage of the total **Rewards** and **Transaction Fees** earned.
**“Slashing Penalty“** means any penalty applied by the **Network** to a **Validator Node’s** staked Tokens for unavailability or slow, incorrect or malicious performance.
**“Staking“, “Staked“, “Stakes”,** or **“to Stake“** means committing Tokens to a **Validator Node** to support the Network’s security through **Validator Node’s** **Validation** **Operations**.
**“Stake”** means the total amount of **Tokens Staked** by **User** to a **Validator** **Node** operated by Company.
**“Services”** means offering **Validation Operations** and exercising **Voting** **Rights** by **Company** on behalf of **User**.
**“Telegram Group”** means Company’s Telegram group, accessible at .
**“Transaction Fees”** means any amount of digital tokens paid to the **Network** by users to execute transactions. A part or all of the Transaction Fees paid may be distributed to **Validator Nodes**, **Users** or both.
**“Twitter”** means Company’s Twitter account, accessible at .
**“Unstaking”** means removing tokens from a **Validator Node** operated by **Company** or stopping the act of **Staking**.
**“User”** means a holder of **Tokens** who **Stakes** **Tokens** with a **Validator** **Node** operated by Company.
**“Validator Node”** means a full node that participates in “consensus” on the **Network**, responsible for verifying, voting on, and maintaining a record of transactions on a **Blockchain Network**.
**“Validation Operations”** means operating a **Validator Node** to which **Users** can **Stake**.
**“Voting Rights”** means the rights **User** derives by **Staking** to a **Validator** **Node**, which indirectly allows **User** to participate in **Network** governance based on the number of tokens staked.
**“Website”** means **Company**‘s website, accessible at .
**2. Services and Code of Conduct**
Subject to the **Terms,** where Company operates **Validator Nodes** that are among the **Active Set, Company** will operate **Validator** **Nodes** in a manner considered reasonable by industry standards.
During such operation of the **Validator Nodes,** **Company** will:
* implement industry standard monitoring and alerting tools to prevent downtime and slashing penalties to the maximum extent possible;
* take reasonable steps to protect all private and validator keys necessary for operation;
* give **Users** open lines of communication directly with Company’s team;
* do their best to provide valuable services, infrastructure, and offerings to **Network’s** communities;
* share their position on Governance proposals and exercise **Voting** **Rights** based on Users’ preferences;
* communicate changes in **Service** **Fees** at least one week beforehand through official **Channels**;
* communicate the termination of **Validation Operations** for a given **Network** at least one week beforehand through official **Channels**;
There is no guarantee or assurance that, and Company is not making any representation, warranty or promise to that effect, **Company** will operate **Validator** **Nodes** at all or for any particular period. Company’s failure to enter or remain in the **Active Set** or offer **Validation** **Operations** shall not constitute a breach of any provision of these **Terms** or otherwise give rise to any liability or obligation of Company to **User**.
Company shall not have any obligation to perform the **Validation** **Operations** at any time if any one or more of the following conditions is not satisfied as of such time:
1. the representations and warranties of **User** outlined in Section 3 after this are accurate and complete as of all times on and after agreeing to these **Terms** while **User** **Stakes** with a **Validator** **Node** operated by Company;
2. **Company** is included in the **Active** **Set** on the **Network**; and
3. neither User’s **Stake** to a **Validator** **Node** operated by Company, nor Company’s performance of **Validation** **Operations** for **User**, constitute or would be reasonably expected to result in (with or without notice, a lapse of time, or both) a breach, default, infringement or violation of any Law applicable to **User** or Company, or contract or agreement to which **User** or **Company** is a party or by which **User** or Company is bound, including these **Terms** and **Network** agreements.
**User** acknowledges and understands that due to the permissionless, decentralised design of the **Networks**:
* anyone holding **Tokens** can anonymously Stake with **Validator** **Nodes** operated by Company, and accordingly, **Company** does not, under ordinary circumstances, have the ability to prevent any such person from Staking with **Validator** **Nodes** operated by Company; and
* **Company** is likely unable to ascertain vital information regarding **User**, including User’s name, country of origin, country of residence, age, good standing, legal status, affiliations, entity type and criminal history.
Accordingly, there may be periods during which one or more of the conditions described directly above is not satisfied, but Company is unaware of such fact and continues rendering **Services** to **User**.
If **User** reasonably expects that any of these conditions above are not satisfied before **Staking** to **Validator** **Nodes** operated by Company, **User** shall not proceed with **Staking** any **Tokens** to **Validator** **Nodes** operated by Company. If, after **Staking** Tokens to **Validator** **Nodes** operated by **Company,** **User** could reasonably expect that any of these conditions have ceased to be satisfied, **User** shall immediately stop **Staking to Validator Nodes** operated by **Company**.
**3. User Representations and Warranties**
**User** hereby represents and warrants to Company, as of the date of entering into this **Agreement** and as of each date that **User** is Staking to **Validator** **Nodes** operated by Company:
3.1 If **User** is an individual, **User** is of legal age in the jurisdiction in which **User** resides and is of sound mind and body. If **User** is a business entity, **User** is duly organised, validly existing and in good standing under the laws of the jurisdiction in which it is organised and has all requisite power and authority for a business entity of its type to carry on its business as now conducted.
3.2 **User** has all requisite capacity, power and authority to accept these **Terms** and to carry out and perform its obligations stated in them. These **Terms** constitute a legal, valid and binding obligation of **User** enforceable against **User** by its terms.
3.3 User entering into this **Agreement** and User’s **Staking** to **Validator** **Nodes** operated by Company does not constitute and would not reasonably be expected to result in (with or without notice, a lapse of time or both) a breach, default, infringement or violation of any Law applicable to **User**, or contract or agreement to which **User** is a party or by which **User** is bound.
3.4 **User** is not, and is not owned or controlled by, or acting on behalf of, any other person who is identified on any list of prohibited parties under any Law or by any **Governmental Agencies**, such as, for example, the lists maintained by the United Nations Security Council, the U.S. government (including the U.S. Treasury Department’s Specially Designated Nationals list and Foreign Sanctions Evaders list), the European Union (EU) or its member states, and the government of User’s home country. **User** is not, and is not owned or controlled by, or acting on behalf of, any other person who is, located, ordinarily resident, organised, established, or domiciled in Cuba, Iran, North Korea, Sudan, Syria, the Crimea region (including Sevastopol) or any other country or jurisdiction against which the U.S. maintains economic sanctions or an arms embargo. User’s tokens are not derived from and do not otherwise represent the proceeds of any activities in violation or infringement of any Law.
3.5 **User** understands and agrees that neither User’s **Staking** to **Validator** **Nodes** operated by Company nor Company’s provision of **Services** hereunder:
* means Company will accept, take control of, or custody User’s **Tokens**;
* represents or constitutes a loan or a contribution of capital to, or other investment in, Company;
* provides **User** with any ownership interest, equity, security, or right to or interest in the assets, rights, properties, revenues or profits of, or voting rights whatsoever in, Company; or
* creates or implies any fiduciary or other agency relationship between Company or any of its directors, officers, employees, agents and **User**.
3.6 **User** is knowledgeable, experienced and sophisticated in using and evaluating the **Network** and similar technologies. **User** has conducted its thorough independent investigation and analysis of the **Network** and the other matters contemplated by this **Agreement** in determining to **Stake** any **Tokens** to Company and enter into this **Agreement**, and has not relied upon any information, statement, omission, representation or warranty, express or implied, written or oral, made by or on behalf of **Company** in connection in addition to that.
3.7 **User** shall be solely responsible for payment of any applicable taxes concerning User’s share of **Rewards** and for any other taxes resulting from the transactions contemplated herein, as determined by the laws of User’s jurisdiction of residence or citizenship; **Company** makes no representations in this regard. The **Parties** agree not to treat this **Agreement** as giving rise to a partnership for U.S. federal income tax purposes. **User** hereby agrees to defend, indemnify, and hold harmless us and our officers, directors, managers, employees, and agents from any liabilities, costs, and expenses (including reasonable attorneys’ fees) concerning such taxes and related costs, interest, and penalties.
**4. Limitation of Use**
The **Terms** provided govern the User’s access and use of the **Website** and are incorporated into this **Agreement**.
**User** acknowledges and agrees that Company will not accept or take custody over any **Rewards** on User’s behalf and has no responsibility or control over whether the **Network** distributes any **Rewards** to **User. That** Company’s sole obligation under this **Agreement** is to perform the **Services** upon the **Terms** outlined in this **Agreement**.
**5. No Consequential, Incidental or Punitive Damages**
Notwithstanding anything to the contrary contained herein, Company shall not be liable to any person, whether in contract, tort (including under any cause of action alleging negligence), warranty or otherwise, for special, incidental, consequential, indirect, punitive or exemplary damages (including but not limited to lost data, lost profits or savings, loss of business or other economic loss) arising out of or related to this **Agreement**, whether or not Company has been advised or knew of the possibility of such damages, and regardless of the nature of the cause of action or theory asserted.
**6. Limitation of Liability**
Company’s liability for damages under this **Agreement** shall in all cases be limited to, and under no circumstances shall exceed, the portion of **Commission** received by Company that demonstrably arose by the User’s particular **Staking** of its particular Tokens to **Validator** **Nodes** operated by Company.
**7. Indemnification**
**User** agrees to indemnify, defend and hold harmless **Company**, its partners, agents, officers, directors and employees from and against any loss, cost, expense, claim, injury or damage (including, without limitation, reasonable attorneys’ fees and expenses) (collectively, “**Losses**“) incurred due to third party claims arising from any breach by the **User** of any representation, warranty, or provision in this **Agreement**. Company shall indemnify, defend and hold **User** harmless from and against any **Losses** incurred due to third-party claims arising from any breach by Company of any representation, warranty, or provision contained in this **Agreement**.
**8. Term, Termination, and Suspension**
The **Services** under these **Terms** will start on the **Effective Date**.
Either party may terminate these **Terms**: (a) at any time for any or no reason, (i) on delivery of written notice of termination to the other **Party**, (ii) in the case of **User**, by **Unstaking** their **Tokens**, or (iii) in the case of **Company**, by taking steps to shut down the **Validator** **Node** or, if technically possible, denying/terminating the Staking of **User’s Tokens** to **Validator** **Nodes** operated by Company, (b) for a good cause, with immediate effect, if the other **Party** materially breaches a provision of these **Terms**; in each case, the termination is subject to any restrictions on termination provided in the terms and conditions of the **Network**.
Upon termination, the **User** shall (i) cease to use the **Services**; (ii) initiate Unstaking of User’s **Tokens**; and (iii) pay to Company all fees and expenses outstanding through the termination date. Upon termination, Company shall pay to **User** its attributable **Rewards** minus **Commission**. Further, the termination of these **Terms**, for any reason, shall not affect the entitlement of Company to any fees and expenses due.
Upon termination of these **Terms**, all licenses to access and use the **Services** will likewise terminate, and **User** will discontinue all such access and use immediately after that.
Any obligations and duties that by their nature extend beyond the expiration or termination of these **Terms** will survive the expiration or termination of these **Terms,** including, without limitation, accrued rights to payment, warranty disclaimers and limitations of liability.
**USER** ACKNOWLEDGES THAT **USER** HAS READ THIS **AGREEMENT**, UNDERSTANDS IT, AND AGREES TO BE BOUND BY ITS **TERMS**.
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