🪙Staking Service Terms and Conditions
1. Overview
1.1 The Fixed Staking Service (the “Service”)
The Service is offered by HKD.com Limited (“HKD.com”) that allows one to obtain yield by staking digital assets for a fixed period of time. HKD.com is responsible for product design management and the operation of the Service. In order to use the Service, you should read and abide by the Fixed Staking Terms and Conditions and choose to accept or not accept this Agreement.
1.2 Read and Accept terms of Agreements
Unless you have read and accepted all the terms of this Agreement, you are not authorized to use The Fixed Staking Service and its corresponding Services. Your acceptance of this Agreement and your use of the Service represents that you have read and agreed to this Agreement and that this Agreement is legally binding on you.
2. Definitions
T Day: A natural day based on Singapore time (UTC+8).
Fixed Staking: The User will stake and freeze a certain amount of an agreed digital asset in HKD.com. During the staking period, the User will not be able to trade the staked and frozen digital asset in the User’s Account.
Redemption: The redemption of the staked and frozen digital asset takes T+N days to deliver to transfer to the User’s Account.
Transfer-in: The User transfers a certain amount of digital asset in the User’s Account to the User’s relevant sub-account for Staking.
Transfer-out: The User transfers a certain amount of digital asset from the User’s Account to the User’s relevant sub-account.
Staking Period: The time period for the User to stake the digital asset. If you stake your digital asset on T day (HKT) and redeem it between 0:00 to 24:00 on T+N day, your staking period is n-1 days. If you choose a fixed staking period, it is agreed that after the staking period expires, the User can redeem the staked digital asset into the User’s Account. In the case where the staking period is flexible, the User can redeem the staked digital asset at any time to the User’s Account.
3. Eligibility to Use the Service
3.1 You understand and confirm:
You have agreed to abide by the “Staking Service Terms and Conditions” and you are eligible and not to be prohibited from using the Services defined therein;
If you are registering the Service in your personal capacity, in order to accept this Agreement effectively, you must be at least 18 years old, with full civil rights and civil capacity, and have all the necessary authorities and abilities to sign this Agreement. Once signed, it is binding on you;
If you are registering to use the Service on behalf of a legal entity, in order to accept this Agreement effectively, you declare and guarantee that (i) such legal entity is legally established and valid in accordance with applicable laws; (ii) you are duly authorized by the legal entity to have the right to act on their behalf.
You have the experience and risk tolerance of using the service and have the experience and knowledge to invest in non-guaranteed digital currency products;
In order to use the Service, you have the ability to perform operations on the Internet;
This Agreement does not conflict with the laws of your country or region, and you promise that you will comply with the laws of your country or region;
You are the legal owner of the digital assets in your HKD.com Account and guarantee that the sources of these digital assets are legal.
3.2 You agree and promise:
You will not use the Service for any illegal purposes, including but not limited to illegal gambling, money laundering, fraud, extortion, extortion, data breaches, terrorist financing, and any other violent activities or any businesses prohibited by the law.
You will not conduct, initiate or promote any forms of market manipulation or other forms of illegal conduct, including but not limited to illegal gambling, money laundering, fraud, extortion, extortion, data breach, terrorist financing, and any other violent activities or businesses prohibited by the law.
3.3 You understand and accept the risks that may arise to you and the related losses you may suffer from using the Service, including but not limited to:
The risks you may suffer from the risks associated with the inability to trade the staked digital assets. You are willing to bear the funding risks and potential financial losses caused by staking;
The expected yield displayed on the HKD.com website is the theoretical estimation of yield instead of the actual yield guaranteed or promised by HKD.com. The actual yield may vary from the expected yield. Your final yield will be based on the actual yield you receive. HKD.com will deduct the cost, fees, and expenses related to the operation of Staking (including but not limited to the server fees, electricity fees, etc.) as well as the handling fees for Staking from your actual yield of Staking to determine your final yield. HKD.com does not make any guarantee or promise to the actual yield that you may receive;
High price fluctuations of digital assets and their derivatives may cause significant or total losses in a short period of time;
Technical anomalies may occur, which may delay or prevent you from using the Service or performing related transactions and result in losses of your digital assets;
Market anomalies may occur, which may result in losses of your digital assets;
In order to maintain the overall health of the market, HKD.com is required to add, remove, or change the policies, the terms of this Agreement, or other relevant service agreements or terms from time to time. Such behavior may benefit or harm individual customers like you.
4. Use of this Service
4.1 You can make commands, such as Staking, through the HKD.com staking page. Once the command is set, you will not be able to cancel or edit it.
4.2. When your assets are successfully locked up, you agree to entrust and authorize HKD.com to perform certain actions to a certain amount of digital assets in your account, including but not limited to node voting and digital asset gain.
4.3 Staking rules: If a User stakes an asset before 24:00 on T-1 day (HKT, UTC+8), the User’s yield will be calculated starting from the T day. From the T+1 day, the yield will be settled and distributed on a periodic basis. All profits will be distributed to your Account. HKD.com reserves the right of the final and only interpretation of the Staking Rules, yield calculation method, profits distribution, yield calculation period, and other relevant contributions to the staking rules.
4.4 Redemption rules: If a User selects “flexible access” for the staking period, the User can redeem after entering the redemption command. The redeemed digital asset might take T+N days to arrive at the User’s account, depending on the token type. If the staking period is fixed, the User should redeem after it expires. The redeemed digital assets may arrive at the User’s account after T+N days, depending on the token type. You understand and agree that between the redemption date and the actual arrival date, you will not be able to make any profits, transfer, or other commands to the redeemed digital assets. You understand and accept that the actual date for the redeemed digital assets to arrive in your account may vary. The arrival time shown on the website is final. There is currently no ‘flexible access’ offered on HKD.com; all staking products available are fixed staking.
4.5 Default Settlement: If a User request to redeem the digital assets frozen for Staking before the expiration of the Fixed Staking Period, HKD.com, at our discretion, will pay you the applicable amount based on the principal balance in the lock-up profit account. Additional interest and administrative fees will be charged by HKD.com to User. The administrative fees will be the lock-up income between the fixed staking expiration date and the withdrawal date. “Principal Balance” means a certain amount of digital assets being frozen in the User’s Account for the purpose of using the Staking service.
5. Liabilities
5.1 You agree and accept that the User’s estimated yield displayed on the HKD.com website is an estimation but not a guaranteed or promised actual yield. The actual yield may not meet or may be lower than the estimated yield. Your final yield will be based on your actual yield. HKD.com does not promise or guarantee your estimated yield or actual yield you will receive.
5.2 You agree and accept that when you redeem your assets, the time it takes for the digital assets to arrive at your account may vary, and the arrival displayed on the website is final. HKD.com shall not be liable for any losses caused by the digital asset arrival time difference.
5.3 You agree and accept that HKD.com reserves the right to amend the content of this Agreement anytime in its sole discretion. HKD.com shall not be liable for any losses due to your misunderstanding of this Agreement, or your delay in reading the amendments to this Agreement.
5.4 You agree and accept that if the HKD.com platform cannot function properly or the Service is interrupted due to the following conditions, such that you are unable to use the Services or cannot make commands or perform related trading operations, including but not limited to failure, delay, interruption, no system response, delayed system response or any other abnormal circumstances, HKD.com shall not be liable to any losses. These circumstances include but are limited to the following:
Service suspension for maintenance as announced by HKD.com;
System failure to transmit data;
Force majeure or accidents, such as typhoon, earthquakes, tsunamis, flooding, plague, power outage, war, turmoil, government actions, terrorist attacks, etc. that lead to the suspension of the HKD.com platform;
Service interruption or delay due to hacking, computer virus, technical adjustment or failure, website upgrade, banking issues, temporary closure due to government regulations, etc.;
Service interruption or delay caused by the computer system being damaged, defective, or unable to perform normally;
Losses due to technical problems that cannot be predicted or solved by existing technical forces in the industry;
Losses to you or other third parties due to the fault or delay of the third party;
Losses to you or other third parties due to changes in laws and regulations or government orders;
Losses to you or other third parties due to force majeure or accidents caused by other unforeseeable, unavoidable and unsolvable objective circumstances.
You agree and accept that the above reasons may lead to abnormal transactions, market interruptions, and other possible abnormal circumstances; HKD.com reserves the right to refuse to execute your commands based on the actual circumstance. You understand and agree that HKD.com shall not be liable for any of your losses (including but not limited to direct or indirect losses, actual losses, or loss of possible yield, etc.).
5.5 You agree and accept that HKD.com shall not be liable for any losses caused by the risks described in Section 3.2 of this Agreement (including but not limited to any direct or indirect losses, actual losses, or possible loss of profits).
6. Mandatory Measures
You agree and accept that HKD.com strictly prohibits unfair trading practices. HKD.com reserves the right to exercise control over your account or shut down your account if you perform the following actions:
Price manipulation or any other malicious market behaviors;
Harming other Users or HKD.com using the loopholes of the Service or other unreasonable means;
Participation in any activities that HKD.com regards as harmful to the market;
Violation of law and regulations.
In order to eliminate any adverse effects on the overall market, HKD.com reserves the right to take the following measures at its sole discretion, including but not limited to the closing down of your account, and restricting or canceling your commands. You understand and agree that HKD.com shall not be liable for any losses (including but not limited to any direct or indirect losses, actual losses, or losses of possible profits) incurred by you in connection with the above measures.
7. Indemnification
7.1 You shall take every possible measure to protect HKD.com from any damages arising out of your use of the Service or other actions related to your HKD.com account; otherwise, you should be liable to HKD.com.
7.2 You hereby agree to defend, indemnify and hold HKD.com harmless from any claim or demand (including reasonable legal fees) made or incurred by any third party against HKD.com due to or arising out of your breach of this Agreement, your improper use of the Service, your violation of any law or the rights of a third party and/or the actions or inactions of any third party to whom you grant permissions to use your HKD.com account or access our website, software, system (including any network and servers used to provide any of the Service) operated by us or on our behalf, or any of the Services on your behalf.
8. Miscellaneous
8.1 The contents of this Agreement also include HKD.com's various system specifications, other agreements or rules in the annex to this Agreement, and other relevant agreements and rules regarding the Service that HKD.com may issue from time to time. Once the above content is officially released, it is an integral part of this Agreement, and you should also abide by it. In the event of any conflict between the above content and this Agreement, this Agreement shall prevail.
8.2 HKD.com reserves the right to unilaterally modify this Agreement (including the above contents) if necessary. Such modification could happen at any time without prior notice. If any changes are made, the revised content shall be posted on HKD.com's website immediately. Please check the latest information posted therein to inform yourself of any changes. Your continued use of or access to the Service following the posting of any changes constitutes acceptance of those changes. If you do not accept the revised content, you should stop using the Services.
8.3 You should carefully read the Agreement, and any document referred to in Sections 8.1 and 8.2 of this Agreement that constitute the contents of this Agreement. If there is anything that you do not understand in the Agreement and any document referred to herein, you should contact HKD.com and seek clarification. Unless otherwise instructed by HKD.com, any formal communication and document transfer between you and HKD.com should be undertaken through email. You are also able to contact HKD.com telephonically as informal communication. Any formal communication between you and HKD.com should unless otherwise agreed, be made in the English language. In the event of any discrepancy between the communication in English and that in a foreign language, the English version shall prevail. In the event of any discrepancy between any formal and/or informal communications and the Agreement, the Agreement shall prevail.
To HKD.com: Email: cs@HKD.com
8.4 If any provisions of this Agreement shall be invalid, illegal, or unenforceable, the validity, legality, and enforceability of the remaining provisions shall not in any way be affected or impaired in any way. However, if any provisions of this Agreement shall be invalid, illegal, or unenforceable under any such applicable law in any jurisdiction, it shall, as to such jurisdiction, be deemed modified to conform to the minimum requirements of such law, or if for any reason it is not deemed so modified, it shall be invalid, illegal or unenforceable only to the extent of such invalidity, illegality or limitation on enforceability without affecting the remaining provisions of this Agreement, or the validity, legality or enforceability of the such provision in any other jurisdiction.
8.5 The failure of our enforcement of any right or provision of this Agreement will not be deemed a waiver of such right or provision.
8.6 This Agreement, your use of the Services, any claim, counterclaim, or dispute of any kind or nature whatsoever arising out of this Agreement, directly or indirectly, shall be governed by, and construed in accordance with the laws of Seychelles without regard to the principles of conflicts of laws thereof.
8.7 You shall not transfer, novate or assign this Agreement, and the rights and obligations hereunder, in whole or in part, without the prior written consent of HKD.com. HKD.com has the right to transfer, novate or assign any rights or obligations under this Agreement by serving written notice on you, which takes effect upon the delivery of such notice.
8.9 The headings of all the terms of this Agreement are for reading convenience only and have no actual meaning, and cannot be used as a basis for interpretation of the meaning of this Agreement.
8.10 HKD.com has the sole and final discretion of interpretation of this Agreement.
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