1. Definitions. Capitalized terms used but not defined in this Section 1 shall have the meaning ascribed to them below.
1.1 “Digital Assets” means any digital blockchain asset subject to the Services.
1.2 “Digital Wallet” means the wallet or similar device or software used to store Digital Assets.
1.3 “Net Reward” means the sum of the Rewards minus Slashing Penalties (if any).
1.4 “Rewards” means any rewards granted by the Supported Blockchains, including block rewards, endorser rewards, and transaction fees, in each case as actually granted by such Supported Blockchains and received by Figment or you, as applicable, in connection with the performance of the Services.
1.5 “Slashing Penalties” means any slashing penalty assessed by a Supported Blockchain pursuant to the Supported Blockchain’s protocol due to a material failure by Figment to perform the Services.
1.6 “Supported Blockchains” means the proof-of-stake network or blockchain ledger on which Figment operates a validator node.
2.3 Protocols, Airdrops and Forks. You acknowledge and agree that the Supported Blockchains are independently and separately operated and controlled by third parties. As such, at any time and for any reason, such Supported Blockchains may modify their protocols, bond or unbond your Digital Assets, airdrop, fork, or implement any other action or change that may impact your Net Rewards, Digital Assets, the Services and/or your access and use to each of the foregoing (together, a “Blockchain Event”).
2.4 Changes to the Services. We reserve the right to modify, alter or otherwise change the Services from time to time by adding, deleting, or otherwise modifying features or functionality to improve your experience, comply with applicable regulations and/or laws or for any other reason or purpose. We further reserve the right to (i) discontinue any feature of the Services or any portion thereof at any time, including, without limitation, discontinue to support any Digital Asset, or Supported Blockchain, or (ii) remove any content from the Services at any time, for any reason in our sole discretion and without notice to you. You specifically acknowledge and agree that we are not (a) responsible for such modifications, changes, content removals, or (b) liable for any loss of value of your Digital Assets or loss of Net Rewards that may result directly or indirectly from any such changes or any Blockchain Event.
3. Rewards; Fees
3.1 Rewards. Your use of the Services may result in a Net Reward that is issued by the applicable Supported Blockchain and transferred to the Digital Wallet address where your Digital Assets originated or is otherwise used by you in connection with the Services. You acknowledge that (i) such Net Rewards may be issued in the same denomination as the Digital Assets, (ii) any estimates or projections of Rewards or Net Rewards, as applicable, are not a guarantee, (iii) we will never ask for and you should never provide to us the private key or your Digital Wallet, (iv) we are not responsible for the loss of your private key or your inability to access (a) your Digital Wallet, or (b) any resulting Net Rewards that may be stored therein, and (v) you assume responsibility for ensuring we have the correct and valid address of your Digital Wallet(s). You specifically acknowledge and understand that your Net Rewards may be subject to a bonding period by a Supported Blockchain that may render your Net Rewards and/or Digital Assets unavailable and/or subject to other restrictions imposed and controlled by such Supported Blockchain (together, the “Bonding Period”).
3.2 Fees. In consideration for granting you a limited license to access and use our Services, you hereby authorize us to charge a service fee, which is transferred to us directly by the protocol of the applicable Supported Blockchain. These are publicly available on the relevant block explorer for each Supported Blockchain and are subject to change at any time for any reason.
4.2 Effects of Termination. In the event of any termination or suspension pursuant to Section 4.1 or otherwise: (i) the Services will immediately cease, (ii) you will renew validation and or staking of your Digital Assets in a manner unrelated to the Services and will resume all of the related responsibility formally delegated to us as part of the Services, and (iii) you will make all final payments of fees and outstanding amounts owed to us. Termination or suspension of the Services may require us to complete certain delegated tasks that make part of the Services, including, but not limited to unbonding of Digital Assets. The performance of such tasks shall be at our discretion and you disclaim any responsibility or obligation that we may have to perform such tasks.
5. Intellectual property
5.1 Ownership. As between you and us, we own all the right title and interest in and to the Services and Website and any modifications, improvements, adaptations, enhancements, derivates thereto and any intellectual property rights related thereto, including but not limited to, patents rights, trademarks rights, copyrights right, and trade secret rights and any other intellectual property and/or industrial rights recognized anywhere in the world.
5.3 No Reverse Engineering; Restrictions. You shall not directly or indirectly (i) copy modify, reproduce, reverse engineer, decompile, disassemble, or otherwise attempt to discern the source code or any other proprietary information or materials related to the Services or the Website, (ii) use the Services or Website to build a competitive product, software or other technology that could be used to offer similar services as to those offered hereunder, (iii) interfere with the Services or Website, their security, network and the operability of any of the foregoing, or (iv) introduce, post, or upload, (a) bugs, time bombs, time locks, traps, trojan horses, or (b) any other harmful code or software that can corrupt or damage data, storage media, programs, equipment, or any hardware used in connection with the Services or Website.
6. YOUR REPRESENTATIONS AND WARRANTIES; ACKNOWLEDGMENT OF RISKS
6.2 Acknowledgment of Risk. You understand and agree that (i) use of the Services exposes you to considerable risk of loss; (ii) you may not earn any Net Rewards; (iii) the operation of the Services and any resulting Net Rewards, if any, may depend on services provided by third parties, including, but not limited to, those set forth in Section 2.5, which we do not control; (iv) Digital Assets and Supported Blockchains are new technologies that currently face uncertain and evolving regulatory requirements in many jurisdictions; and (v) one or more such jurisdictions may, in the future, adopt laws, regulations or directives that affect Digital Assets and/or Supported Blockchains and that may result in sudden changes (a) to the Services or (b) in connection with your Rewards or Digital Assets. For the avoidance of doubt, we specifically disclaim any liability for any losses or damages you experience in connection with any of the foregoing.
10.4 No Third Party Beneficiaries. The provisions hereof are solely for the benefit of the parties and are not intended to, and will not be construed to, confer a right or benefit on any other person.
10.7 External Sites and Third Party Content. The Services may contain links to third-party websites or content (“External Sites”). Such External Sites are provided solely as a convenience to you and not as an endorsement by us of the content on such External Sites. The content of such External Sites is developed and provided by others. You should contact the site administrator or webmaster for those External Sites if you have any concerns regarding such links or any content located on such External Sites. We are not responsible for the content of any linked External Sites and do not make any representations regarding the content or accuracy of materials on such External Sites. You should take precautions when (i) interacting with such External Sites, or (ii) downloading files from all websites to protect your computer from viruses and other destructive programs. If you decide to access linked External Sites, you do so at your own risk.
10.9 Class Action Waiver. Notwithstanding anything else herein. Arbitration must be on an individual basis. As a result, you may not join or consolidate claims in an arbitration by or against any other person, or litigate in court or arbitrate any claims as a representative or member of a class or private attorney general action.