Terms and Conditions
These are the terms and conditions for products and services of Cryptaine GmbH (limited liability), hereinafter referred to as “Cryptaine”. By purchasing or using products and services from Cryptaine, you agree to be bound by these terms and conditions and the policies of Cryptaine.
Risk warnings
Capital Risk
Capital at risk. Please seek independent professional advice before purchasing any products and services.
No guarantee
There is no guarantee that the purchase of products or services will be profitable and you may lose more than your initial investment. Past performance is not a guide to current or future results.
Volatility risks
Cryptocurrencies carry inherent unpredictable extreme market volatility risks, which means that many values fluctuate unexpectedly and erratically.
Commitment
You must understand what products and services you are purchasing before making any commitment to purchase or be involved with any Cryptaine products and services.
Cryptaine Terms and Conditions of Products and Services
THE TERMS
Scope. These are the terms and conditions of products and services (including Appendix 1 – Farming and Staking) on which Cryptaine may provide you with products and services, which may include: goods, services, digital content, digital products, digital services and tokens, crypto, code, platforms (including farming, staking and pools) or other (“Products and Services”).
Must read and understand. Please read these Terms carefully before placing an order or purchasing any Products. These terms and conditions tell you who Cryptaine is, how Cryptaine will provide products to you, what to do if there is a problem and other important information and should be read in conjunction with our Privacy Policy, Cookies Policy and Website Terms and Conditions which can be found on the Cryptaine website. You should also seek independent professional advice prior to any involvement with the products and services provided by Cryptaine.
Overview and Risk Warning. Cryptocurrency carries inherent risks that may make it susceptible to fluctuations in value and valuation and financial risks. You must understand what products and services you are purchasing before making any commitment to purchase or be involved with any Cryptaine products and services.
Capital at risk. The value of investments, products and services can go down as well as up and is not guaranteed. Investors may not get back the amount (or any amount) for which they originally purchased the investments, products and services. Past performance is not indicative of and is not a guarantee of current or future results.
Change of location. Cryptaine reserves the right to change the location or jurisdiction of the Company, processing, processes, outsourcing, issues, ICOs, to third parties or otherwise.
HOW TO CONTACT CRYPTAINE
Contacting Cryptaine. You can contact Cryptaine via the general Cryptaine e-mail address: [email protected]. Please make sure that you are detailed and specific in your request.
“Writing” includes emails. When Cryptaine uses the words “in writing” or “written” in these terms and conditions, this includes emails.
AGREEMENT
Acceptance of order. Cryptaine’s acceptance of your order takes place when you place an order to purchase our products, subject to these terms and conditions and in particular clause 3.2 below.
Inability to accept an order. Cryptaine may not be able to accept your request for products or services and reserves the exclusive right not to accept or fulfil any request for products or services and is not obliged to provide a rationale to justify any inability to accept or fulfil a request for products or services.
Right of access to the Cryptaine website. The Cryptaine website and any exchange or third party that promotes or provides Cryptaine products and services may only be accessed by users in geographical regions and jurisdictions that do not prohibit such access.
Right to purchase Cryptaine products and services. The Cryptaine website and any exchange or third party that promotes or supplies our products and services may only be used to purchase products and services that are not prohibited, illegal or otherwise. And no user, consumer or customer should under any circumstances purchase products and services if the products and services (in whatever form) are prohibited, illegal or otherwise in the geographical region or jurisdiction in which they access the website and any exchange or third party.
THE PRODUCTS
Product variation. Cryptaine has made every effort to display the products and services accurately, however, products and services, specifications, values and quantities may vary from time to time as the Cryptaine team believes is necessary to contribute to the integrity, stability and growth of Cryptaine.
PURCHASING
Once a product has been purchased either directly from Cryptaine, through a supplier or on an exchange (in which case the terms and conditions of the supplier and/or exchange may apply accordingly), there is no right to change, modify the order, refund or return. You agree that by purchasing a product from Cyptaine or otherwise, you have fully read and accepted these terms and conditions and have read, understood and agreed to all available Cryptaine policies. If you do not understand any part of these terms and conditions or any of the Cryptaine policies, you may not purchase any Cryptaine products by any means or method.
CRYPTAINES ‘S RIGHT TO MAKE CHANGES
Changes. Cryptaine reserves the full right to make commercially reasonable changes to the strategy, policies, profile, litepaper, whitepaper, development, products, services, content, website, sales or offering geographies or otherwise. In all circumstances this will be at the discretion of the Cryptaine team in the pursuit of compliance with legal and regulatory changes, sustainability, commerciality, longevity and growth opportunities and prospects of Cryptaine. Furthermore, Cryptaine reserves the right to make minor commercially and operationally reasonable technical adjustments and improvements, for example to address a security threat.
Cryptaine is not responsible for delays. If our delivery of a product or service is delayed by an event beyond our control, Cryptaine will make a public announcement on our website. Cryptaine does not accept any responsibility or liability as a result of anything that causes a delay that is outside our control or cannot reasonably be controlled by us.
Inaccurate information. Cryptaine may require certain information from you so that Cryptaine can provide you with the products and services. If Cryptaine needs information, Cryptaine will contact you at the email address you have provided and request the information. If you do not provide this information within a reasonable time after we request it, or if you provide us with incomplete or incorrect information, Cryptaine may terminate your contract.
PRICE AND PAYMENT
Where to find the price of the product. The price of the products and services is the price indicated when the products and services are purchased, either directly on the Cryptaine website or on a stock exchange or through a third party.
Cryptaine will pass on changes in the VAT rate. If VAT is due at any time, Cryptaine will indicate that it is required and will apply it to the purchase price of any products and services.
LIMITATION OF LIABILITY
To the extent permitted by law and in accordance with our policy:
1. Cryptaine shall not be liable to you, whether in contract, tort (including negligence), breach of statutory duty or otherwise, for any loss of profit or any indirect or consequential loss arising out of or in connection with any contract between us; and
2. our total liability to you for all other losses arising under or in connection with any contract between us, whether in contract, tort (including negligence), breach of statutory duty or otherwise, shall be limited to the purchase price/amount of the Products and Services.
HOW CRYPTAINE MAY USE YOUR INFORMATION
How CRYPTAINE uses your information. Cryptaine will only use your information in accordance with our Privacy Policy.
GENERAL INFORMATION
Limitation of liability. Although Cryptaine has attempted to provide accurate information, Cryptaine assumes no responsibility for the accuracy or reliability of any information or data on the Website, Platform or any linked or associated third party site. Cryptaine does not endorse or assume any responsibility for the conduct of users or what information (in any form) users submit to our site. Nothing in these terms and conditions requires Cryptaine or any third party to monitor the site or to modify or remove any material or information (in any form). The Cryptaine site may contain links to third party sites. Cryptaine is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, validation or recommendation of their content or services. Access to, use of or reliance on any other sites linked to this Site is at your own risk and Cryptaine is not responsible for the accuracy or reliability of any information, data, opinions, advice or statements made on such sites and will not be liable for any reliance or consequential or inconsequential loss arising from such reliance. You are solely responsible for maintaining the confidentiality of your account, registration and password information. Cryptaine will not be liable for any damages caused directly or indirectly by or related to the theft or misappropriation of your user name or password, the disclosure of your user name or password, or your allowing someone else to use your user name or password. Cryptaine may change the programmes, products and services mentioned at any time without notice. Mention of non-Cryptaine products or services is for informational purposes only and constitutes neither an endorsement nor a recommendation. The Site and all information on the Site are subject to applicable local laws and may also be subject to the laws of the country in which you reside or access the Cryptaine Site, Products and Services. Cryptaine reserves the right to investigate and take appropriate action against anyone who, in Cryptaine’s sole discretion, is suspected of violating any applicable law, including, without limitation, reporting you to any regulatory and law enforcement authorities. THIS SITE IS PROVIDED “AS IS” WITH ALL FAULTS AND WITHOUT WARRANTY OF ANY KIND, EITHER EXPRESSED OR IMPLIED. TO THE FULLEST EXTENT PERMITTED BY LAW, Cryptaine DISCLAIMS ALL CONDITIONS AND WARRANTIES, EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, THOSE OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NON-INFRINGEMENT, OR THOSE ARISING FROM COURSE OF DEALING, USAGE, TRADE USAGE OR COURSE OF DEALING. Cryptaine’s TOTAL LIABILITY SHALL NOT EXCEED THE TOTAL AMOUNTS PAID BY YOU TO Cryptaine FOR ALL PRODUCTS AND SERVICES IN RESPECT OF WHICH THE CLAIM OR CLAIMS ARE MADE. IN NO EVENT WILL Cryptaine BE LIABLE FOR ANY DIRECT, INDIRECT, SPECIAL, CONSEQUENTIAL OR INCIDENTAL DAMAGES, INCLUDING, WITHOUT LIMITATION, LOST PROFITS OR REVENUES, COSTS OF REPLACEMENT GOODS, OR LOSS OR DAMAGE TO DATA, ARISING OUT OF THE USE OR INABILITY TO USE THIS SITE OR ANY RELATED SERVICES OR CONTENT, OR DAMAGES RESULTING FROM USE OF OR RELIANCE ON THE INFORMATION PRESENTED, EVEN IF Cryptaine HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH LIABILITY OR DAMAGES. FURTHERMORE, Cryptaine SHALL NOT BE LIABLE FOR ANY DIRECT, INDIRECT, SPECIAL, CONSEQUENTIAL OR INCIDENTAL DAMAGES OR DAMAGES CAUSED BY THE USE OF SERVICES (OR PRODUCTS), WHICH USE IS THE SOLE RESPONSIBILITY OF THE CUSTOMER OR THIRD PARTY, AND Cryptaine EXPRESSLY DISCLAIMS ANY RESPONSIBILITY AND LIABILITY TO THE EXTENT PERMITTED BY LAW.
YOU AGREE TO INDEMNIFY CRYPTAINE FOR ANY LOSS OR DAMAGE THAT Cryptaine MAY SUFFER, INCLUDING WITHOUT LIMITATION LEGAL COSTS, AS A RESULT OF ANY BREACH BY YOU OF ANY WARRANTY OR OTHER TERM OF THIS AGREEMENT OR YOUR MISUSE OF ANY MATERIAL OR INFORMATION OBTAINED THROUGH THE SITE. YOU FURTHER AGREE TO INDEMNIFY Cryptaine FOR ANY LOSS OR DAMAGE INCURRED BY CRYPTANE IN CONNECTION WITH ANY CLAIM BY A THIRD PARTY AGAINST CRYPTAINE FOR INFRINGEMENT OF INTELLECTUAL PROPERTY RIGHTS ARISING IN CONNECTION WITH YOUR PROVISION OF MATERIAL TO THE SITE. CRYPTAINE DOES NOT GUARANTEE AND DOES NOT PROMISE ANY SPECIFIC RESULTS OR USE FROM THE USE OF THE SITE, PRODUCTS AND SERVICES OR ANY RELATED PRODUCTS AND SERVICES OR CONTENT.
If any part of this agreement is found by a court to be unlawful, the remainder of this agreement shall remain in full force and effect. Each paragraph of these terms will operate separately. If any court or competent authority finds any of them to be unlawful, the remaining paragraphs will remain in full force and effect.
Which laws apply to this contract and where you can sue if you are a consumer. These terms and conditions shall be governed by and construed in accordance with the laws of England and Wales and the courts of England and Wales shall have exclusive jurisdiction to settle any such dispute or claim.
Schedule 1: Farming & Staking
The CRY token, currently issued on the BNB Smart Chain, is intended to serve as a preliminary token until the launch of our proprietary blockchain network. In its current state, CRY token holders can participate in our preliminary “Cryptaine Farms” to familiarise themselves with the staking process, receive staking rewards and serve as a “Pre Validator Staking Registration Network”. This preliminary phase is designed to help token holders accumulate the necessary amount of tokens to stake on the launched network, and ultimately promote true decentralisation by enabling a greater number of individuals to become network validators. It is important to understand that this preliminary staking mechanism is only intended to be a precursor to the real, native staking that will be implemented once our own network is successfully launched. Once the network is operational, CRY tokens will be migrated to the Cryptaine blockchain, where they will serve as native tokens and support network stability through native staking. We would like to emphasise that the current mechanism is only an interim measure leading directly to the fully functional, network-sustaining staking.
Before using the farming and staking functionality on the Cryptaine platform, please ensure that you fully understand how the process works. If you choose to lock your CRY tokens for staking rewards, you will not be able to unlock, access, redeem, trade or otherwise use them until the entire vesting period has expired.
Overview Users holding Cryptaine tokens (“CRY”) may deposit their CRY tokens on the Cryptaine Farm. The deposit periods (“Vesting Periods”) are set at 1 calendar month, 3 calendar months and 12 calendar months from the date a user deposits their CRY tokens into the farm.
Vesting Periods Vesting periods are periods during which CRY tokens are completely locked and a user cannot withdraw their CRY tokens until the vesting period has expired. It is the User’s responsibility to ensure that they understand and agree to their CRY tokens being locked for the defined period prior to vesting (locking) their CRY tokens into the Farm. Once a user agrees to lock their CRY tokens for a specific (or multiple) vesting period, they will not be able to release their CRY tokens until that period has expired. There are no exceptions to vesting periods, once a user agrees to lock their CRY token(s) into a vesting period, it cannot be revoked, reduced or changed.
Rewards In exchange for staking CRY tokens on the Farm, a User will be entitled to receive rewards (“Staking Rewards”) for their locked CRY tokens. These will vary depending on the Vesting Period(s) chosen and all Users must ensure that they understand the Staking Rewards before locking their CRY Tokens into a Vesting Period. Staking Rewards are fixed at the amount displayed during the Vesting Period registration and deposit processes and cannot be changed, increased or reduced under any circumstances.Users will receive their Staking Rewards once the CRY Tokens in the Farm have generated Rewards, which may be withdrawn by the User (“Harvesting”) at any time and for any or all of the Reward amount. For the avoidance of doubt, it is important that the User understands that they can only harvest the Reward amount and not the original CRY tokens that are locked away in a Vesting Period.
Harvesting Harvesting the Stake Reward will not affect the Vesting Period, but it will reduce the Stake Reward counter by the amount the User has harvested. For example, if the user has earned Staking Rewards of three CRY tokens and decides to Harvest one of the CRY tokens, the remaining Reward counter will be reduced to two CRY tokens.
Increasing Vested CRY Tokens Increasing the number of vested CRY tokens will increase the vesting period. Each time a user adds CRY tokens to the farm (specifically their vesting period), the vesting period is reset and the vesting period starts over. For example, if a User deposits 100 CRY Tokens into the Farm for a 3 calendar month Vesting Period and decides to deposit additional CRY Tokens during the 3 calendar month Vesting Period, the 3 calendar month Vesting Period will be reset and the CRY Tokens will be blocked for an additional 3 calendar months from the date the User deposits the additional CRY Tokens.
Working Example “A user stakes 100 CRY tokens on 1 April 2022 for a 3 calendar month vesting period. On 1st April 2022, the CRY tokens are locked until 1st July 2022 (3 calendar month Vesting Period), at which point it expires and the CRY tokens are unlocked.During this Vesting Period, the user generates CRY token rewards (Staking Rewards).On 13th May 2022 (Week 6 of the Vesting Period), the user decides to stake 1 additional CRY token in the 3 calendar month Vesting Period that began on 1st April 2022. On the 13th of May 2022, the User bets the additional 1 CRY token in the 3 calendar month Vesting Period. At this point, the 3 calendar month Vesting Period will automatically restart and the new Vesting Period for the 101 CRY Tokens will expire and the CRY Tokens will be unlocked on the new expiry date of 13 August 2022.