RISK NOTIFICATION REGARDING MOJO STAKING REWARDS PROGRAM
MOJO Token Incentives and all cryptocurrencies (together, “Crypto Assets”) are a high-risk asset class. The risks associated with Crypto Assets and the Foundation’s MOJO Staking Rewards program (“MOJO Staking Rewards Program”) do not cover all possible risks associated with Crypto Assets. In addition to other risks, it is possible that not all risks associated with Crypto Assets and the MOJO Staking Rewards Program have yet been seen or predicted. The Staking Terms (defined below) hereby incorporate by reference the RedMoth's Terms as if fully set forth herein.
The primary risks associated with Crypto Assets and the MOJO Staking Rewards Program include:
(i) Market Risk - Trading Crypto Assets is risky because the value of Crypto Assets changes rapidly, the value of a Crypto Asset may rise and/or fall or permanently lose its value. Additionally, Crypto Assets are traded 24 hours a day, seven days a week, making it challenging to monitor the markets continuously;
(ii) Liquidity Risk - Crypto Assets may have low liquidity, which can make trading Crypto Assets difficult when desired or even prevent trading altogether;
(iii) Security Risk - Hacking attempts targeting Crypto Assets or their blockchain and/or password phishing attempts may lead to the loss of Crypto Assets if successful;
(iv) Blockchain Risk - Transactions made on the blockchain are generally irreversible, so blockchain technology inherently carries the risk of errors and delays, which can lead to the permanent loss of Crypto Assets or delayed transfers;
(v) Third-Party Risk - If any other party participating in the MOJO Staking Rewards program or crypto markets goes bankrupt or becomes insolvent or makes an error in its operations, there is a risk that Crypto Assets may be lost and/or their recovery may be significantly delayed;
(vi) Legislative Risk - Different jurisdictions have different approaches to Crypto Assets, so changes in legislation may have a negative impact on Crypto Assets and/or their value; and
(vii) Tax Risk - Tax issues related to Crypto Assets are largely open and not extensively regulated by law.
By using the MOJO Staking Rewards Program, you acknowledge and accept the risks associated with using the MOJO Staking Rewards Program and Crypto Assets in general.
INFORMATION ABOUT THE MOJO STAKING REWARDS PROGRAM
The Foundation offers the User the opportunity to use the MOJO Staking Rewards Program after the User has accepted these MOJO Staking Rewards Program terms and conditions (hereinafter the "Staking Terms") as legally binding on themselves. Upon the User’s acceptance of these Staking Terms, they become an integral part of the agreement between the User and the Foundation (hereinafter the "Agreement"), which shall become effective when the User accepts the Foundation's "Terms," available here: https://www.redmoth.xyz/legal/termsandconditions
The use of the MOJO Staking Rewards Program is not permitted if the User does not accept these Staking Terms. The MOJO Staking Rewards Program is available to the User only upon separate acceptance of these Staking Terms and through the User's Account on the Foundation's Service. Thus, the use of the MOJO Staking Rewards Program is also not possible if the User has not accepted the Foundation's Terms.
Through the MOJO Staking Rewards Program, the User can lock their Crypto Assets for a specified period of their choosing by holding them in their own wallet which is read by the Platform once connected by the User. The Foundation has sole discretion to decide which Crypto Assets are available for use in the MOJO Staking Rewards Program. The Crypto Assets available for use in the MOJO Staking Rewards Program can be found by logging into the Service: https://app.worldwideagents.ai/
The Foundation will transfer to the User a Reward upon a successful Staking based on the Crypto Assets the User has locked and the length of time the User has held the Crypto Assets in the Staking Account. While the User's Crypto Assets are held in the User’s wallet, the User will be able to freely use the Crypto Assets, but doing so or moving out of their specified wallet will result in the loss of Staking Rewards.
2. DEFINITIONS
These Staking Terms use the following definitions:
"User" refers collectively to corporate Users (legal entities) and personal Users using the Staking Service.
"User Portal" refers to the User portal for the Foundation’s Users.
"Staking Period" refers to a period during which the User's Crypto Assets are held in a User’s Wallet and read by the Staking Service.
"Staking" refers to the User's Crypto Assets in the Staking Service that the User has decided to hold in their personal Wallet on the blockchain for the Staking Period.
"Reward" refers to compensation that the Foundation transfers to the User for the Staking.
"Service" refers to the Mojo Staking Rewards Program.
"Anti-Money Laundering Act" refers to the act on preventing money laundering and terrorist financing (444/2017).
"User Account" refers to the User's account in the Foundation's Service, where the User can connect their personal Wallet to read Digital Assets.
"Staking Instruction" refers to the instruction given to the Foundation by the User regarding the Staking of Crypto Assets in the Staking Service.
"Personal Wallet" refers to a digital wallet owned and controlled by the User that allows the storage of Crypto Assets outside the Service by the Foundation as part of the Staking Service.
"Fiat Currency" refers to the official currency of a country issued by a central bank or other monetary authority.
All other definitions and terms not defined in these Staking Terms have the same meaning as in the Terms. If a definition or term is defined both in these Staking Terms and in the Terms of Service, the meaning defined in the Staking Terms shall prevail when using the Staking Service.
3. OPERATION OF THE STAKING SERVICE
Making a Staking Instruction
The User can give a Staking Instruction to the Foundation in the Service concerning the holding of the User's Crypto Assets from the User Account and wallet to be read by the Staking Account. To be accepted, the Staking Instruction must contain the information required in the Staking Service at the time. Once the User has provided an accepted Staking Instruction, the locking event appears as a confirmed transaction in the Service.
The Foundation may, at its sole discretion, accept or reject any Staking Instruction, and an accepted Staking Instruction does not obligate the Foundation to execute it. Thus, the Foundation may unilaterally decide not to execute a Staking Instruction and return the Crypto Assets subject to the Staking Instruction to the User's Account.
Staking Period and expiry
As compensation, a successful Staking accrues a Reward to the User's Account for the Staking Period.
Exceptional Situations
Crypto Asset market and, consequently, the Staking Service may face many exceptional and unpredictable market disruptions and/or other realizations of the risks referred to at the beginning of these Staking Terms. Such situations may include, but are not limited to: i) the Staking of Crypto Asset subject to the Staking Instruction cannot be executed; ii) a system failure in the Staking Service; iii) a significant volatility in the value of the Crypto Asset subject to the Staking Instruction; and iv) the Foundation or the Subcontractor or any other party relevant to the operation of the Staking Service experiences technical or operational issues or becomes insolvent.
In the event of any market disruption, the Foundation may, at its discretion, take one or more of the following actions:
prevent the User from using the Staking Service;
prevent the User from using the Crypto Assets in the Staking Service; or
delay the execution of the Staking Instruction and/or the transfer of the Reward to the User Account.
Thus, when considering the adoption of the Staking Service, the User acknowledges and accepts that the Foundation may not be able to offer the Staking Service uninterrupted in all circumstances. The User also acknowledges and accepts that in the event that the Foundation acts as described, the market value of the Crypto Assets may significantly differ from the market value that preceded the event, and/or the Staking Instruction may not be executed, and/or the User may suffer significant losses, and the Crypto Assets may even be permanently lost, for example, as a result of a penalty.
4. REWARD
The User is entitled to a Reward based on the Staking, upon successful completion of the Staking Period. The Foundation transfers the Reward to the User in the same Crypto Asset that the User has set for the Staking. The indicative time frame for the transfer of the Reward is provided per Crypto Asset in the Service when making the Staking Instruction and on the Foundation’s website. The Foundation reserves the right to deviate from the stated time frame in the event of any disruption.
5. USER RIGHTS AND OBLIGATIONS
The User is obliged to use the Staking service only in their own name and on their own behalf unless otherwise expressly agreed in writing. The User is obliged to make each decision (including the decision to use the Staking Service, the decision on how and with which Crypto Assets the User will use the Staking Service, and the decision to give a Staking Instruction) independently and at its own risk. All decisions made by the User must be based on the User's own investigation and assessment of the Foundation and the Staking Service, and the risks associated with the Staking Service. The User should consult appropriate parties in making investment decisions where necessary.
By using the Staking Service, the User warrants that:
the User takes sole responsibility for all its decisions and actions regarding the Staking Service;
the User is capable of assessing the risks associated with the Staking Service, and acknowledges and accepts that all actions taken and decisions made by the User in the Staking Service are based entirely on the User's own judgment and decision making;
all Crypto Assets in the Staking for the use of the Staking Service are owned by the User;
all Crypto Assets in the Staking for the use of the Staking Service are free and clear of any encumbrances, and are not subject to any claim, demand, receivable, option, or other right of any kind by any third party;
the User takes sole responsibility for the legality of its actions;
the User takes sole responsibility for any potential tax obligations related to the Staking Service and/or the use of the Staking Service and acknowledges and accepts that The Foundation does not provide any tax-related services; and
the User does not use the Staking Service for any illegal or objectionable purpose or in bad faith.
6. THE FOUNDATION RIGHTS AND OBLIGATIONS
The Foundation is not obliged to provide the User with assistance regarding ensuring the legality of using the Staking Service. The Foundation does not give any guarantees of the market value of the Staking, and the Foundation is not able to influence the market value of the User's Crypto Assets after the Staking Period.
The Foundation's material relating to the Staking Service is provided for informational purposes only, unless expressly and explicitly stated otherwise. The Foundation does not guarantee the accuracy of such material and is not liable for any inaccuracies, incompleteness, or unsuitability of the material provided. No information provided by the Foundation should be construed as an offer or invitation to make any Staking Instructions.
At its discretion, the Foundation has the right to cancel any Staking Instruction if the Foundation detects or suspects that the User is using the Staking Service for illegal or harmful purposes, or in any way in violation of these Staking Terms. In doing so, the Foundation is not obliged to provide the User with any reasons for its decision to cancel the Staking Instruction.
7. LIMITATION OF LIABILITY
The Foundation provides the Staking service "as is" without any warranties other than those expressly stated in these Staking Terms. The Foundation disclaims all other warranties, whether express or implied, given to the User or any third party, including but not limited to warranties of quality, fitness for purpose, merchantability, or other matters related to the Staking Service or the Service under these Staking Terms or the Agreement.
The Foundation shall not be liable for any direct or indirect losses, damages, claims, or other similar matters arising from:
a) refusal or non-execution of the Staking Instruction,
b) delay in the execution of the Staking Instruction,
c) the legality of the User's actions under the law and/or in compliance with the Staking Terms, or any breach thereof by the User,
d) the User's ability or inability to assess the risks associated with the Staking Service,
e) a flaw or a failure in the Crypto Asset smart contract (e.g., due to malware, attack, or exploitation) or protocol delays (e.g., the protocol does not register a transfer),
f) loss of Staking or Reward, if caused by circumstances beyond the Foundation's control (force majeure; such events may include, but are not limited to, acts of a common enemy, terrorism, war, act of governmental authority, natural forces, earthquakes, floods, fires, pandemics, power failures, failure in telecommunications and inability to obtain products or services from other persons or entities),
g) loss, theft, malfunction, destruction or other factors restricting access to the private keys of the Staking or Crypto Assets related to the Staking Service, and
h) other matters for which the User is responsible.
The Foundation shall not be liable for any indirect damages related to the use of the Staking Service, such as loss of income or profit or other consequential damages, unless the Foundation has caused damage through gross negligence or intentionally.
8. VALIDITY AND TERMINATION
These Staking Terms are valid until further notice. The Foundation may unilaterally terminate these Staking Terms with immediate effect, including during the Staking Period, if the User breaches these Staking Terms. The User’s actions are considered to violate the terms at least in the following situations: i) the User acts and/or uses the Staking Service in a manner that violates the law or the rights of a third-party; and ii) the User attempts to add or adds content to the Crypto Asset blockchain or the Foundation Service that is harmful to their operation.
The following sections shall survive the termination of the Staking Terms: 2, 4, 5, 6, 7, 9, 10, and 11.
9. OTHER TERMS
The User is not entitled to transfer any rights or obligations under these Staking Terms to third parties without the written consent of the Foundation. The Foundation has the right to transfer the rights and obligations under the Staking Terms in the event of an acquisition or merger by notifying the User of the transfer.
If any term of these Staking Terms is found to be invalid by a court of competent jurisdiction, the invalid provision shall be removed from the Staking Terms, and the Staking Terms shall remain in force in all other respects.
10. CHANGES TO STAKING TERMS
The Foundation reserves the right, if the Foundation in its sole discretion deems it justified for any reason, to change the content of the Staking Service or to suspend or discontinue the provision or publication of the Staking Service without prior notice at any time, either temporarily or permanently. The User acknowledges and accepts that in such a case, the User’s Crypto Assets and/or Staking may be frozen, and the User’s access to the assets may be blocked until the underlying situation causing the freeze or block is resolved.
The Foundation has the right to unilaterally change these Staking Terms at any time. The Foundation seeks to notify the User of changes to the terms and conditions within a reasonable period before the change takes place, however at least 30 days before the change will take place. By continuing to use the Staking Service after the effective date of the changes, the User is deemed to have automatically accepted the changes to the Staking Terms. If the User does not accept the changes, the User must notify the Foundation of this by sending a message via the User Portal and stop using the Staking Service.
11. APPLICABLE LAW AND DISPUTE RESOLUTION
Regardless of from which country the Staking Service is used, the User hereby accepts that these Staking Terms and the use of the Staking Service shall be construed in accordance with and governed by the laws set out in the RedMoth Terms as defined above.