SPECIFIC TERMS AND CONDITIONS FOR ETH 2.0 STAKING
These Specific Terms and Conditions for the ETH 2.0 staking service in Bit2Me Earn ("Specific Terms") govern the contractual relationship between You ("user") and Devteam Ireland Limited, a company belonging to the Bit2Me Group (hereinafter "Bit2Me") more information about the companies that make up the Bit2Me Group can be found at the following link: https://bit2me.com/legal/privacidad ), while You and Bit2Me are hereinafter referred to separately as "Party" and jointly as "Parties", with respect to your use of the service, and constitute a legally binding contract ("Agreement") between the parties.
By participating in ETH 2.0 Staking with Bit2Me, you acknowledge that you have read, understood, and agreed to all the terms and conditions of these ETH 2.0 Conditions, and you acknowledge and agree that you will be bound by and comply with these ETH 2.0 Conditions. If you do not understand and accept these ETH 2.0 Conditions in their entirety, you must not participate.
What is ETH 2.0
Ethereum 2.0 (ETH2), currently referred to by Ethereum as "The Merge," is an upgrade to the Ethereum network aimed at improving the network's security and scalability. It involves a change in the network's consensus mechanism from Proof-of-Work to Proof-of-Stake. You can find more information about this Ethereum network upgrade at https://ethereum.org/en/upgrades/merge/#relationship-between-upgrades.
Although the network continues to maintain the same nomenclature, in these terms and conditions of service, "ETH 2.0" will be used to refer to the new ETH staking model for rewards in Bit2Me Earn based on the Proof-of-Stake model.
Starting January 31, 2023, the Bit2Me website and app will be progressively updated over the following 2 weeks, and Bit2Me Earn users will be able to stake their ETH, taking advantage of all the benefits of ETH 2.0.
Conditions for using the service
To access the ETH 2.0 staking service in Bit2Me Earn, the following conditions are essential:
Have a registered and verified account on the Bit2Me Platform, having previously accepted the General Terms and Conditions of Bit2Me. It is essential that you carry out the identity verification tests of the Bit2Me platform.
You represent and warrant that the cryptocurrencies you are going to lock and store in order to access the Bit2Me Earn ETH 2.0 pool are your property or that you are fully authorized to transact using said cryptoassets without restrictions or limitations. You also declare that the use of the services is solely for your own account and benefit, and not on behalf of any other person or entity. Furthermore, you represent and warrant that all such cryptoassets are free from any claim, debt, lien, or third-party reward or bonus.
You are not a citizen or resident of (United States, Japan, Afghanistan, North Korea, Cuba, Guinea Bissau, Iran, Iraq, Syria, and Tajikistan), and you have no relevant connection with any jurisdiction where Bit2Me or its legislation has prohibited or restricted access to this service.
By accepting these Specific Terms and Conditions you acknowledge and confirm that you meet all the conditions set forth above. In the event that it is later determined that you have not met or no longer meet any of these conditions, we may suspend your access to this service and/or related services and close your account on the Bit2Me platform.
Likewise, Bit2Me may at any time and without liability to you:
reject your request to use the service;
change the conditions for accessing the ETH 2.0 staking service in Bit2Me Earn;
suspend all or part of the service;
Change, update, delete, cancel, suspend any feature, component, content, or rewards plan in relation to the ETH 2.0 staking service in Bit2Me Earn.
Operation
To access ETH 2.0 staking in Bit2Me Earn, you must create an account through the Bit2Me platform, and then you can access the Bit2Me Earn services.
In no case will the service offered by Bit2Me for ETH 2.0 staking be considered an investment or a speculative tool. Through the Bit2Me Earn service, the user obtains rewards for transferring and locking their cryptoassets in accordance with the provisions of the Specific Terms and Conditions of Bit2Me Earn.
Lock-up
The cryptocurrencies stored in ETH 2.0 staking in Bit2Me Earn will remain locked until the launch of the Shanghai upgrade by the developers of the Ethereum network, through which the complete merge between its mainnet and the Beacon Chain will occur.
Although Ethereum developers estimate that it will take between 6 and 24 months, starting from September 15, 2022, these estimates do not represent a fixed or definitive launch date, so said upgrade could suffer delays or even not be launched at all. You can check the status of the update at https://github.com/ethereum/pm/issues/450.
Said implementation and deadlines are completely outside the control and scope of action of Bit2Me, so in no case will Bit2Me be responsible to third parties for any event or situation related to it.
Rewards
The cryptocurrencies stored in ETH 2.0 staking on Bit2Me Earn will start generating rewards from the first moment they are transferred and stored in Bit2Me Earn.
The generated rewards are variable and depend solely and exclusively on the Ethereum network protocol. However, as a supplement to them, Bit2Me may, at its sole discretion, offer additional rewards to Bit2Me Earn users, in the same cryptocurrency or in others, in the form and amount that it establishes at its free choice.
Likewise, although these rewards begin to be generated from the first moment the cryptocurrencies are transferred and stored in Bit2Me Earn, they cannot be withdrawn until the launch of the aforementioned Shanghai upgrade, so they will remain locked until that moment. The user can check the generated rewards at any time through their Bit2Me Earn account.
Risks
By accepting these Terms and Conditions, you acknowledge and agree that the Beacon Chain is in an experimental phase and consequently ETH 2.0 has a high associated risk. It is your sole responsibility to assess, understand, and accept the risk associated with ETH 2.0 and the use of staking services.
By using the service, you acknowledge and agree that there is a high risk of total or partial loss of the deposited cryptocurrencies. This risk may be caused, among other things, by problems with the Beacon Chain or with the smart contract where the ETH 2.0 staking is carried out, problems when transferring ETH to said smart contract or from it to your wallet, risk of slashing, risks arising from the validator node itself, problems related to the consensus mechanism, protocol governance, delays in the implementation of the Shanghai upgrade, or even its abandonment by its developers.
The user understands and accepts that there is a high risk of total or partial loss of the cryptoassets stored in the ETH 2.0 pool of Bit2Me Earn, since for the generation of rewards it is necessary to carry out a transfer of them to third parties. The use of the service implies storing and transferring the user's cryptoassets on the ETH blockchain, generating rewards through their use for the validation of transactions on the network.
Disclaimer
The Ethereum network upgrade is a development completely unrelated to Bit2Me that depends solely on the Ethereum network and does not have a specific release date. The implementation and timelines of the upgrade are completely outside the control and scope of action of Bit2Me, so in no case will Bit2Me be responsible to third parties for any event or situation related to it.
ETH added to Bit2Me Earn staking will remain locked until the Shanghai upgrade of the Ethereum network is launched.
Taxation
It is your sole responsibility to determine what taxes, if any, apply to your use of the service, and to collect, report, and remit the correct tax to the appropriate tax authority. We may deduct or make any tax withholding or filing required by law, but we are not responsible for determining whether taxes apply to your transaction and which ones, nor for collecting, reporting, or remitting any tax arising from any transaction or in connection with your use of the service regulated in these Terms and Conditions. You are responsible for complying with applicable law. You agree that Bit2Me is not responsible for determining whether laws may apply to your transactions or which laws may apply, including tax laws.
You are solely responsible for reporting and paying any taxes arising from your use of the Services.
Personal Data Protection
In accordance with the European Regulation (EU) 2016/679 on Data Protection, we inform you that your personal data is processed by Devteam Ireland Limited, for the purpose of providing the services contracted by the user, their navigation through the Platform, and the establishment and development of commercial relationships in accordance with the legitimate interest of the BIT2ME GROUP. You can exercise your rights of access, rectification, deletion, limitation, opposition, and portability via email at rgpd@bit2me.com and contact our Data Protection Officer at dpd@bit2me.com. You also have the right to file a complaint with the Spanish Data Protection Agency (www.aepd.es).
Bit2Me is committed to protecting privacy and providing a secure User experience. By contracting the services, the User explicitly accepts the processing of their data as described in the Privacy Policy established by the Bit2Me Group and the Specific Terms and Conditions of the Bit2Me Earn service.
Applicable Law and Jurisdiction
This contract will be interpreted and governed in accordance with current Spanish legislation. Both parties, with express waiver of any other jurisdiction that may correspond to them, submit any interpretation or controversy resulting from this contract to the Courts that, according to the legal system, are competent.
Miscellaneous
Bit2Me reserves the right to modify or supplement these Specific Terms. Such changes or modifications will be valid and in full force from the date of their publication on the Bit2Me platform (within the Earn service), unless otherwise indicated.
The client should regularly check the Bit2Me Platform and the Earn service for such additional changes or modifications. By continuing to use the Bit2Me Earn service after such changes or modifications are in effect, the client indicates that they accept the amended or modified Specific Terms. If the client does not wish to be bound by any changes or modifications, they must stop using the Bit2Me Earn service immediately.
In matters not regulated in these Specific Terms and Conditions, the provisions of the General Terms and Conditions of the Bit2me Platform, as well as the Terms and Conditions of the Bit2Me Earn service shall apply.
BIT2ME 2023 - Spain.
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