DaVinci Protocol Services Agreement
These Terms and Conditions for DaVinci Protocol Staking Services ("Terms") between the DaVinci ("DaVinci Protocol") and the user ("User") governs the services of DaVinci Protocol as defined hereinafter.
By delegating Coins to DaVinci Protocol, User agrees to be bound by the terms of this Agreement. If User does not agree to, understand, or cannot comply with, all of the terms of this Agreement, User must not delegate its coins to DaVinci Protocol.
As such, please read this Agreement carefully before delegating coins to DaVinci Protocol. No signature of either Party is required for this Agreement to be legally binding against each Party. This Agreement is legally binding on the Effective Date (as defined below). Please contact us at [email protected] for any questions or issues.
NOW, THEREFORE, in consideration of the mutual agreements contained below, DaVinci Protocol and User hereby agree as follows:
Definitions
- “Active Set” means those Validator Nodes with sufficient delegations on the Network to actively participate in consensus block production.
- “Affiliate” means, with respect to any entity, any other entity that, directly or indirectly, through one or more intermediaries, controls, is controlled by, or is under common control with, such entity.
- “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.
- “Rewards” means any coins granted by the Network to the Validator Node as a result of Validator Node Operation, including block rewards, endorser rewards, and transaction fees.
- “Cryptocurrency” means a digital currency, operating independently of a central bank, in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds.
- “Effective Date” means the date that you delegate your coins.
- “Governmental Authority” means any nation or government, any state or other political subdivision thereof, any entity exercising legislative, judicial or administrative functions of or pertaining to government.
- “Network” means any "Proof-of-Stake Network" that DaVinci Protocol operates a Validator Node on.
- “Services” means the exercise by DaVinci Protocol of Validation Rights on behalf of User under this Agreement.
- “Service Fees” means the amount paid to Validator Nodes for exercising Users’ Validation Rights on the Network.
- “Slashing Penalty” means any penalty assessed by the Network for unavailability or slow, incorrect, or malicious performance.
- “Staking”, “Staked”, or “to Stake” means committing Cryptocurrency holdings as a monetary guarantee of the correct and performant operation of a designated Staking Node.
- “Staking Rewards” means all cryptocurrency coins generated by operating validator nodes.
- “Transaction Fees” means any amount of digital coins paid to the Network by transactions.
- “User” means a holder of coins who delegates coins to DaVinci Protocol in order to be eligible to receive Block Rewards and Transaction Fees by exercising its Validation Rights on the Network.
- “Validator Node” means a full node that participates in “consensus” responsible for verifying, voting on, and maintaining a record of transactions on a blockchain network.
- “Validation Rights” Users owning coins native to a specific Network can participate in maintaining the Network.
- “Voting Rights” means those rights granted to a User by the Network to be used in Network Governance.
Services and Code of Conduct
Subject to the terms and conditions of this Agreement...
User Representations and Warranties
User hereby represents and warrants to DaVinci Protocol...
Limitation of Use
The Terms of Service of DaVinci Protocol provided...
No Consequential, Incidental, or Punitive Damages
Notwithstanding anything to the contrary contained...
Limitation of Liability
DaVinci Protocol’s liability for damages under this Agreement...
Indemnification
User agrees to indemnify, defend and hold harmless...
Term, Termination, and Suspension
The Service under these Terms will start on the Start Date...
USER ACKNOWLEDGES THAT USER HAS READ THIS AGREEMENT, UNDERSTANDS IT, AND AGREES TO BE BOUND BY ITS TERMS AND CONDITIONS.
