This Terms and Conditions of Staking Service ("Terms and Conditions") is made between you ("User") and PT CTXG Indonesia Berkarya, a limited liability company established under the laws of Republic of Indonesia ("Mobee").
(User and Mobee hereinafter individually referred to as "Party" and collectively referred to as the "Parties")
This Terms and Conditions sets forth the terms and conditions under which the User uses the staking service provided by Mobee ("Staking") from Mobee. By clicking "agree", the User agrees that the User reads, understands, and accepts all of the terms and conditions set forth in this Terms and Conditions as well as Mobee's Privacy Policy and General Terms and Conditions.
If the User have any question related to Staking and/or this Terms and Conditions, please contact Mobee's costumer service [here].
Risk disclosure
By investing in any crypto asset related products, the User should be aware of the substantial risk that the User may lose a part or the entirety of the principal invested in such products, as crypto asset may experience volatility in value. The User is advised to carefully consider the risk exposure before using such service in respect of the User's financial condition as crypto assets related services are not suitable for every client. The User hereby agrees that Mobee, in providing the service, has not acted and is not acting as a fiduciary and has not provided recommendations or advise with respect to particular investment decisions.
1. Definitions
1.1. In this Terms and Conditions, the following words and expressions shall have the following meanings:
1.1.1. “User's Account” means the account you have registered and passed the Know Your User process on the Mobee Platform.
1.1.2. “Crypto Asset” means an intangible commodity in digital form, using cryptography, information technology networks, and distributed ledgers, to regulate the creation of new units, verify transactions, and secure transactions without interference from other parties.
1.1.3. “Dispute” means as defined under Article 17.1.
1.1.4. “Reward” means the compensation that the User receive for Staking subscribed by the User.
1.1.5. “Force Majeure” means as defined under Article 15.1.
1.1.6. “Confidential Information” means as defined under Article 16.1.
1.1.7. “Indemnified Parties” means as defined under Article 9.1.
1.1.8. “Principal Amount” means the principal amount of Crypto Asset used by the User for Staking.
1.1.9. “Revised Terms and Conditions” means as defined under Article 18.1.
1.1.10. “Staking Instruction” means to the instruction given to Mobee by the User regarding Staking of the User’s Crypto Asset.
1.1.11. “Staking Period” means refers to a period during which the User's Crypto Assets are locked in Staking.
1.1.12. “Partner” means any third party whose services Mobee utilizes to implement and provide for Staking.
1.1.13. “Terms of Staking” means as defined under Article 2.1.
1.1.14. “Privacy Policy and General Terms and Conditions” means the privacy policy and general terms and conditions on Mobee's Platform.
1.1.15. “External Wallet” means a digital wallet that allows the storage of Crypto Assets managed by Mobee to be used for Staking.
2. Operation Of The Staking
2.1. By using Staking on Mobee's Platform, the User shall be subject to and agrees to be bound with Mobee's terms of the relevant Crypto Asset used for Staking ("Terms of Staking").
2.2. The User can give a Staking Instruction to Mobee in the Staking concerning the transfer of the User's Crypto Asset from the User Account to External Wallet. To be accepted, Staking Instruction must contain the information required in Staking at the time. The User must carefully verify the content of Staking Instruction given that a Staking Instruction cannot be canceled after its execution. Once the User has provided a Staking Instruction, the locking event appears as a confirmed transaction in the Staking.
2.3. Mobee may, at its sole discretion, accept or reject any Staking Instruction, and Staking Instruction does not obligate Mobee to execute it. Thus, Mobeemay unilaterally decide not to execute a Staking Instruction and return the Crypto Asset subject to Staking Instruction to the User's Account.
2.4. By providing a Staking Instruction, the User authorizes Mobee to act as an intermediary for and on behalf of the User. The authorization is necessary for the implementation of Staking during Staking Period and authorizes Mobee to perform any action it deems necessary for providing Staking. When acting as an intermediary, Mobee has the right for and on behalf of the User, for example: (a) to transfer the Crypto Assets specified in Staking Instruction from the User's Account to an External Wallet managed by Mobee or the Partner, which may also contain Crypto Assets of other Mobee customers; (b) to stake the Crypto Assets using Partners; and (c) to charge the User the commission in accordance with the Terms of Staking and/or Partners' fees or other costs and expenses payable by the User.
2.5. Mobee will use its best efforts to execute accepted Staking Instructions, but cannot guarantee that a Staking Instruction can be fully executed as the execution of Staking Instruction is dependent on factors beyond Mobee's control. Through Staking Instruction, Mobee transfers the Crypto Assets specified in Staking Instruction to an External Wallet for Staking, from where Mobee's Partner further transfers the User's Crypto Assets to a Staking Account managed by the Partner. From this Staking Account, the Partner shall allocate the User's Crypto Assets to the nodes of the blockchain network of the Crypto Asset defined in Staking Instruction for use during Staking Period. Due to the manual processes of Staking and differences in validation processes and timeframes of different blockchains, the User acknowledges and accepts that there may be delays in the execution of Staking Instruction.
2.6. The User may choose to terminate Staking anytime. However, in the event the User terminates Staking before the Staking Period exceeds 1 (one) calendar day, the User shall not receive any Reward from Staking.
2.7. Due to the characteristics of Staking, the User acknowledges and accepts that the User cannot modify, or in any other way determine Staking during Staking Period. As compensation, a successful Staking accrues a Reward to the User's Account generated during Staking Period.
2.8. When Staking Period expires or the User terminates Staking before the Staking Period expires, Mobee's Partner will transfer all potentially accrued and unpaid Reward and the capital subject to Staking back to Mobee's possession. The Partners shall deduct their expenses and commissions from the accrued Reward. Upon receiving the Reward and Staking, Mobee transfers them to the User's Account, by first deducting the commission payable to Mobee for the use of Staking.2.9. Crypto Asset market and, consequently, Staking may face many exceptional and unpredictable market disruptions and/or other realizations of the risks referred to at the beginning of these Terms of Staking. Such occurence may include, but are not limited to: (a) Staking of Crypto Asset subject to Staking Instruction cannot be executed; (b) a system failure in Staking; (c) a significant volatility in the value of the Crypto Asset subject to Staking Instruction; and (d) Mobee or the Partner or any other party relevant to the operation of Staking experiences technical or operational issues or becomes insolvent.
2.10. In the event of any market disruption, Mobee may, at its discretion, take one or more of the following actions:
(a) prevent the User from using Staking;
(b) prevent the User from using the Crypto Assets in Staking; and/or
(c) delay the execution of Staking Instruction and/or the transfer of the Reward to the User Account.
2.11. Thus, when considering the adoption of Staking, the User acknowledges and accepts that Mobee may not be able to offer Staking uninterrupted in all circumstances. The User also acknowledges and accepts that in the event that Mobee acts as described, Staking Instruction may not be executed, and/or the User may suffer significant losses, and the Crypto Assets may even be permanently lost.
2.12. These Terms of Staking are valid until further notice. Mobee may unilaterally terminate these Terms of Staking with immediate effect, including during Staking Period, if the User breaches these Terms of Staking. The User's actions are considered to violate the terms at least in the following events: (a) the User acts and/or uses Staking in a manner that violates the law or the rights of a third-party; and/or (b) the User attempts to add or adds content to the Crypto Asset blockchain or Staking that is harmful to their operation.
2.13. By using Staking, the User agrees to this Terms and Conditions, Mobee's Privacy Policy and General Terms and Conditions which shall form part of this Terms and Conditions.
3. Reward Calculations
3.1. The User is entitled to a Reward based on Staking, upon successful completion of Staking Period. Mobee will transfer the Reward to the User in the same Crypto Asset that the User has set for Staking. The indicative time frame for the transfer of the Reward is provided per Crypto Asset in Staking when making Staking Instruction and on Mobee's platform. Mobee reserves the right to deviate from the stated time frame in the event of any disruption and/or delay in the transfer of the Reward to Mobee by the Partner.
3.2. The amount of the Reward potentially due to the User is a certain percentage of the amount of the locked Crypto Assets. The percentage varies based on changes in market conditions during Staking Period.
3.3. As a fee for Staking, Mobee charges the User a commission at any given time on the value of the Reward, including any fees and/or commissions charged by Partners, before the Reward is paid to the User. The amount of the commission is provided on Mobee’s website or in Staking when making Staking Instruction. Mobee also reserves the right to withhold any portion of the Reward exceeding the commission if Mobee has receivables from the User based on any other Mobee's services.
3.4. Mobee strives to provide the User with information about Staking and the amount of the Reward in Staking before, during, and after Staking Period. However, Mobee cannot guarantee a specific rate of return to the User, and the amount of Reward communicated to the User at the time of Staking Instruction may not necessarily correspond to the final Reward, or the Reward may be completely forfeited.
4. User's Rights And Obligations
4.1. The User is obliged to use 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 Staking, the decision on how and with which Crypto Assets the User will use Staking, 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 Mobee and Staking, and the risks associated with Staking. The User should consult appropriate parties in making investment decisions where necessary.
4.2. By using Staking, the User warrants that:
4.2.1. The User takes sole responsibility for all its decisions and actions regarding Staking.
4.2.2. The User is capable of assessing the risks associated with Staking, and acknowledges and accepts that all actions taken and decisions made by the User in Staking are based entirely on the User's own judgment and decision making.
4.2.3. All Crypto Assets used for Staking are owned by the User.
4.2.4. All Crypto Assets used for Staking 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.
4.2.5. The User takes sole responsibility for the legality of its actions.
4.2.6. The User takes sole responsibility for any potential tax obligations related to Staking and acknowledges and accepts that Mobee does not provide any tax-related services.
4.2.7. The User does not use Staking for any illegal or objectionable purpose or in bad faith.
5. No Guarantee on Reward
5.1. The User acknowledges that Staking is subject to substantial risk, including the risk of significant or total loss of the User's principal. There are no assurances or guarantees made by Mobee or any associated parties that any product or services will result in a profit or even a principal guarantee.
5.2. Notwithstanding anything to the contrary in this Terms and Conditions, the User acknowledges and agrees that Mobee makes no guarantee regarding the likelihood or probability as to the Reward on Staking and the actual Reward on Staking may vary significantly from the Reward and Mobee has the right to adjust the earning rate at any time and may decide not to provide any Reward to the User in its sole discretion.
6. Fee in Relation to Staking
6.1. Mobee may charge fees for the subscription of Staking as presented in the Terms of Staking.
7. Disclaimer of Risks
7.1. Staking hereunder is not equivalent to a deposit. The User should therefore not treat Staking as a substitute for ordinary savings or deposits, and are not eligible for any public or private deposit insurance protection.
7.2. Extreme market conditions such as volatile price movements may lead to an unpredicted large volume of withdrawal requests submitted to Mobee's platform. This may affect the normal use of Mobee's platform and Mobee may restrict the User's ability to submit withdrawal requests.
7.3. Crypto Asset are subject to the risk of fraud, cyber-attack, theft, manipulation, or security failures. Transactions in Crypto Asset may be irreversible, and, accordingly, losses due to fraud, theft or manipulation may not be recoverable. Investors in Crypto Asset therefore have little or no recourse should such theft, fraud or manipulation occur and could suffer significant losses.
8. Acknowledgment of Utilization of Assets
8.1. By using Staking, the User agrees that during the period of Staking, Mobee may, to the extent permitted by law, at its discretion apply part or all of the User’s Crypto Asset under Staking as Mobee deems appropriate to use any amount of the relevant User's Account underlying the Principal Amount, separately or together with other property, with all attendant rights of ownership, and for any period of time.
8.2. The User acknowledges that, with respect to any or all of User's Accounts underlying the Principal Amount used by Mobee pursuant to this preceding paragraph:
8.2.1. The User will not be able to exercise rights of ownership.
8.2.2. Mobee may receive benefits or earnings other than the Reward in connection with using such Principal Amount in its business to which the User will have no entitlement.
8.3. The User hereby grants full power and authority to Mobee to carry out the actions as described in Article 8.1 above. This power and authority cannot be revoked and is an essential thing which is an integral and inseparable part of this Terms and Conditions, without which this Terms and Conditions shall not be made, and shall not terminate for any reason during the Staking period.
9. Indemnification
9.1. The User hereby agrees to indemnify and hold Mobee and its subsidiaries and affiliates, third-party service providers and their officers, member of the board of directors and commissioners, officers, joint ventures, trust and employees ("Indemnified Parties") harmless from any loss, claim, cost, or demand arising out of or related to the User's:
9.1.1. Breach of this Terms and Conditions or any related terms and conditions.
9.1.2. Improper use of Staking.
9.1.3. Violation of any law, rule or regulation, or the rights of any third party.
9.1.4. Any loss as a result of the User's default, fraud, or gross negligence.
9.2. Any invalidity, unenforceability, release or discharge of the liability of the User to any of the Indemnified Parties shall not affect the liability of any other persons (if any) to the Indemnified Parties.
10. Liability
10.1. Mobee shall not be liable for the User's loss arising from:
10.1.1. The conditions described under Article 9.1 above.
10.1.2. Any malfunction, defect or error in any terminal used to process any instructions from the User, or other machines or system of authorization whether belonging to or operated by other persons or Mobee.
10.1.3. Any delay or inability on Mobee's part to perform any of Mobee's obligations under this Terms and Conditions because of any Force Majeure event.
10.1.4. Any damage to or loss or inability to retrieve any data or information that may be related to Staking or Mobee's services hereunder.
10.1.5. Any underperformance, negligence or default of any third parties that Mobee may engage, such as Crypto Asset wallet providers or exchanges, in providing the services and Staking, directly or indirectly.
10.1.6. Fraud or forgery of any third parties.
10.2. Mobee shall not be liable for the User's:
10.2.1. Business interruption, loss of revenue or profits, loss of business opportunity, customers or contracts, goodwill, opportunity or anticipated savings whether direct or indirect, even if Mobee is advised of or knew or should have known of the possibility of the same.
10.2.2. Any indirect or consequential loss.
10.3. In any event, Mobee's total liability to the User in respect of Staking under this Terms and Conditions shall not exceed the Principal Amount.
11. Tax
11.1. Each Party shall be responsible for the taxes that may be imposed or levied as required by applicable law in relation to this Terms and Conditions and/or the transactions hereunder.
12. Governing Law
12.1. This Terms and Conditions shall be governed by and interpreted in accordance with the laws of the Republic of Indonesia.
13. Change of Control
13.1. In the event Mobee is restructured or is acquired by or merged with a third-party entity, Mobee reserves the right, in any of these circumstances, to transfer or assign the User's information that has been collected by Mobee as part of such acquisition, merger, sale or other change of control.
14. Assignment
14.1. Mobee may assign or transfer to any third-party, including but not limited to other companies, subsidiaries, or affiliates of Mobee by providing written notice of such assignment or transfer.
14.2. If the User wishes to transfer any rights or obligations under this Terms and Conditions, the User needs to obtain written consent from Mobee for such assignment.
15. Force Majeure
15.1. Force majeure is an event or condition that is reasonably beyond the control of a Party ("Force Majeure"), where it in its nature cannot prevent or overcome it, including but not limited to, natural disasters, floods, fires, epidemics, war (both declared or not), rebellion, armed conflict, riots or turmoil, coups, revolutions, acts of terrorism, sabotage, criminal acts, nuclear explosions, electrical disturbances, systems, or third-party networks, or changes in government policies or law and regulations that reasonably and materially affect the ability of the Party to fulfill its obligations under the Terms and Conditions or other terms and conditions.
15.2. Non-fulfillment or non-performance of Mobee's obligations under this Terms and Conditions shall not be deemed a default or breach of this Terms and Conditions if it is due to Force Majeure. Mobee shall not be responsible or liable to the User for any and all of the damages suffered by the User caused by or incidental to such Force Majeure.
16. Confidentiality
16.1. Each Party agrees to keep secret and confidential and not to use, disclose or divulge to any third party or to enable or cause any person to become aware of any information relating to this Terms and Conditions (“Confidential Information”). All Information shall only be used for the purpose of this Terms and Conditions.
16.2. Each Party may disclose the Information to its affiliated company, board of directors, board of commissioners, employees, officers, and consultants limited to those who need to know the Information, provided that the Parties shall ensure that such affiliated company, board of directors, board of commissioners, employees, officers, and consultants comply with the confidentiality provisions under this Terms and Conditions.
16.3. The confidentiality obligation under this Terms and Conditions shall not apply for the information that:
16.4. If there is proof of illegal dissemination and/or disclosing of Information by the User under this Terms and Conditions, Mobee shall have the rights to claim compensation from the User for the damages caused and/or that may be caused.
16.5. The confidentiality obligations under Terms and Conditions shall continue to apply after the termination of this Terms and Conditions.
17. Dispute Settlement
17.1. Any dispute, controversy, or claim arising out of or in connection with this Terms and Conditions, whether in relation to its existence, validity, performance, interpretation, or termination (“Dispute”), shall be settled through amicable settlement within a period of 30 (thirty) calendar days after written notice of the Dispute is submitted by registered mail to Mobee.
17.2. In the event that the Dispute cannot be settled through amicable settlement within a period of 30 (thirty) calendar days, Mobee and the User may settle the Dispute using the procedures as stipulated in the Futures Exchange Regulations and/or Commodity Futures Trading Regulatory Agency (CofTRA) Regulations.
17.3. If the Parties are unable to settle the Dispute through amicable settlement within the period referred to in Article 17.1, the Dispute shall be settled through the Commodity Futures Trading Arbitration Board or the South Jakarta District Court.
18. Miscellaneous
18.1. Mobee may amend or modify the Terms and Conditions at any time by posting the revised agreement on the Mobee Platform and/or providing a copy to the User (the “Revised Terms and Conditions”). If the User continues to use Staking under this Terms and Conditions after the Revised Terms and Conditions is posted on the Mobee Platform or provided to the User, the User shall be deemed to have accepted the Revised Terms and Conditions, and such Revised Terms and Conditions shall be binding on the User. If the User does not wish to accept the Revised Terms and Conditions, the User should notify Mobee as promptly as possible. The Terms and Conditions can only be amended or modified pursuant to this Article. No employees of Mobee or associated parties may unilaterally or jointly amend or modify this Terms and Conditions in any other way.
18.2. The express or implied waiver by any Party of any of its rights or remedies arising under this Terms and Conditions or by law shall not constitute a continuing waiver of the right or remedy waived or a waiver of any other right or remedy.
18.3. If any term of this Terms and Conditions is unlawful or unenforceable under any applicable law, it will, to the extent permitted by such law, be severed from this Terms and Conditions and rendered ineffective where possible without modifying the other terms of this Terms and Conditions.
18.4. This Terms and Conditions (including documents incorporated by reference herein) comprises the entire understanding and agreement between the User and Mobee as to the subject matter hereof, and it supersedes any and all prior discussions, agreements, and understandings of any kind (including, without limitation, any prior versions of this Terms and Conditions), and every nature between and among the User and Mobee.