Date: May 26th, 2020
By this Terms and Conditions Agreement (hereinafter referred to as the “Agreement”), the Company KUAILIAN APP OÜ registry code: 14909553 (hereinafter referred to as “the Company”) and the person who accesses and uses the servers and web-site of the Company (hereinafter referred to as a “Customer”), collectively referred to hereinafter as “the Parties,” enter a binding agreement which will be governed by the following terms and conditions.
By clicking the “I accept” button, it will be understood:
You verify that you have authority to enter this Agreement.
You confirm you have read and understood all the Terms set forth in this Agreement.
You agree to the terms of this agreement and therefore will be legally bound by those terms & conditions.
Therefore, if you do not have authority to enter this Agreement, or if you do not agree with the terms and conditions set out do not click “accept”.
Table of contents
- Subject of the Agreement
- Definitions of terms
- Risk Notice
- Registration and Warranties
- Personal Information and Use of the Account
- Submitting Request to acquire Kuais
- Balance and Rewards
- Referral System
- Terms of the Contract: Termination and Suspension.
- Limitation of Liability
- Force Majeure
- Modification of the Terms
- Invalidity and Severability
- Governing Laws and Jurisdiction
- Entire Agreement
- Signatures of the Parties
1. Subject of the Agreement
1.1. This Agreement applies to the use of the service provided by the Company KUAILIAN APP OÜ and the Company’s web-page located at kuailiandp.com and its subdomains. The Web-page and/or the Service are the property of the Company.
The Company has various technological tools and Services which are offered to the Customers. The “Services” are the marketing and technical services provided by the Company for users to interact on the Companies Web-page, such as:
- Proof of Stake technology software;
- Recent market developments and marketing news;
- A growth strategy that identifies and develops new market segments for current products;
- Proof of stake Software;
- Crypto trade software;
- Liquidity Provider tools.
1.2. This Agreement sets out the use of the Company’s Service and the Company’s website. It describes how the Company’s service works and defines the associated rights and responsibilities that customers will have when using the service.
The Customer will necessarily have to register in the Company in order to have access to the Platform.
1.3. By registering and clicking the “accept” button, the Customer accepts this Agreement and will be bound by it.
1.4. The customer when clicking the accept button guarantees the Company the receipt, review, knowledge of the terms before conclusion of the Agreement, as well as expresses the acceptance of the Terms and Conditions.
1.5. The Company reserves the right, at its sole discretion, to amend, change, modify, add or remove terms of this Agreement at any time, according to the evolution of the business as well as the legislation. These changes or modifications will not affect essential aspects of the contract, such as: the duration of the contract or percentages to receive in daily yields (this last one meaning the % of the total production that goes to daily payments).
When changes are made the Company will specify, through the notification system in the Backoffice, the extent of the changes, amendments, modifications or removed terms in order so that the customers can acknowledge them.
Every Costumer will have to accept the changes by clicking the “accept” button in order to be able to continue using the Backoffice.
If the Customer does not agree to the amendments, changes, modifications or removed terms they shall not click the “accept” button, and instead will have to contact the Compliance Department so that the Company proceeds to freeze some of the functionalities in the account, which will be the following: purchase of licenses, creation of invitation links, access to the market place, access to the Academy and use of the Crosschange Bank.
These functionalities will be frozen in order to avoid acts carried out with terms that have not been agreed. This will not cause any economic damages or changes to the contracts that were already made, but it will not allow certain acts under conditions that have not been accepted. The contracts purchased before the changes, will remain with the terms & conditions that were in place at the time of the contract and the User will still have the right to collect the daily yields from those contracts, as well as access the account and the profile settings and see the reports.
1.6. The changes, amendments, modifications or removal of terms will be mainly made with the following purposes, but there could appear others:
- Correct any errors or mistakes in the documents,
- Give more examples in open lists,
- Make clarifications of aspects that Users have not understood clearly,
- Provide with more information of how the system works,
- Adapt to new products or services the Company works with, offers or launches,
- Adapt to new regulations and laws which could apply to Staking,
- Adapt and comply with any supervisory body or third party which we are subject to in the future.
1.7. The Customer will stake the required amount of coins to run the staking technology.
The Company will pay monthly server fees and will be in charge of handling all the rest.
1.8. The Cryptocurrency Staking Pool of the Company is simple and made for anyone to use it and get involved in Staking technology.
The customer will simply have to choose a Software Plan and start earning cryptocurrency.
2. Definition of Terms
2.1. The following terms used in this Agreement shall have the following meanings:
2.1.1. “Crypto-currency” is the distributed, decentralized peer-to-peer digital currencies;
2.1.2. “Masternodes” are servers which run the wallet software of a certain Cryptocurrency project. Masternodes verify transactions and sometimes also fulfil other specific functions. Operators receive rewards for running this node, yet they also need to provide a financial stake of their own. This financial stake or collateral is locked for the time the masternode is running;
2.1.3. “Staking” means that a Cryptocurrency is locked in the Customer’s private wallet (NOT on an exchange) and earns interest. The reward that the Customer earns from staking varies depending on the project decided and the size of the stake (assets);
2.1.4. “Web-page” is kuailiandp.com and any apps, software, emails or other web-pages which the Company uses to provide the services (that includes the own Service);
2.1.5. “Service” is the Company’s Software POS service, which enables individuals to remotely rent computing power by participating in a collective Staking Pool, using the Web-page;
2.1.6. “Cloud Servers” are virtual servers which host the protocols of the currencies that use the verification system;
2.1.7. “Account” is the personal access to the Service of the Customer;
220.127.116.11. «Balance» is the Customer’s personal Account balance. The Company does not accept the payments in FIAT and the balance shall be replenished/resupplied only in cryptocurrency at the exchange rate on the date of submission of an application for crediting funds and/or on the withdrawal date.
2.1.8. “Order” is the personal Order balance;
2.1.9. “Software license is the access to participating in the staking Pool; an agreement on the basis of which the Customer is granted access to the Web-page and/or Services of the Company;
18.104.22.168. “Contract Term” is the period of time for which a Customer has agreed to pay the Company for the contract license, by default, the Company provides 1000 days staking, unless stated otherwise;
2.1.10. “Platform” is a graphical user interface for the Service;
2.1.11. “Referral Program” is the functionality that allows the Customer to receive financial rewards for Software licenses purchased by other Customers;
22.214.171.124. “Referral” is a Customer who registered by using another Customer’s Referral Link;
126.96.36.199. “Referrer” is a Customer who had another Customer register using their Referral Link;
188.8.131.52. “Referral Bonus” is the reward a Referrer receives for a Referral Purchase;
2.1.12. “Kuai” is a staking capacity unit with the minimum of 100 USD, a Kuai = 100 USD staking capacity. «Kuai» holders will not have rights or any role in the decisión-making and business related activities of the company. «Kuai» licenses are not securities, shares or their equivalent and do not give the right to ownership of the Company.
2.1.13. “Collateral” is the quantity of cryptocurrencies that is within the staking pool (composed of one or more kuais “Staking capacity”). The Ethereum are exchanged for Tokens and these Tokens are sent to the Staking-Pool at the beginning of the Software license contract. These Tokens are Staking in the Staking-Pool until the end of the Software license contract. The collateral is a percentage of the total pool that at the end of the Software license contract is returned in its corresponding percentage and this includes a token portfolio and not a specific one.
3. Risk Notice
3.1. The Parties acknowledge that actions with Cryptocurrencies bear inherent risks.
Due to the fact that the Cryptocurrencies are not regulated and decentralized, no government bodies and public or private legal entities influence or affect their value.
Some of the risks particular to Cryptocurrencies, include the following, but are not limited to others:
3.1.1. Currency fluctuation – the price of the Cryptocurrency may fall sharply and may even fall to zero;
3.1.2. Transactions with Cryptocurrencies may be unconfirmed for a period of time;
3.1.3. Transactions with Cryptocurrencies are irreversible – if any amount of any Cryptocurrency is sent to the wrong person, recovery of the funds will not be possible;
3.1.4. Unknown technical defects inherent in Cryptocurrencies.
3.1.5. New regulation which impacts the use of Cryptocurrencies.
3.1.6. If the exchange provider is out of service and prevents changing the rewards (tokens), that come from the collateral productions, into Ethereum, the company is not responsible for the token exchange since it cannot influence the service of third parties.
3.1.7. The value of Ethereum or any other cryptocurrency used by the company in the pool or other transactions, at any time. The Company does not influence in any way the value cryptocurrencies have currently or will have in the future.
3.2. The Customer understands and agrees that the price of any Contract and any amount of the Cryptocurrency earned may change or lose all value at any time, due to changes in the situation on the global market of Cryptocurrency.
The Company pays the yields from the contracts in Ethereum value. Having said that, the Customer must bear in mind, that the Company has no control on the value or technology that this Cryptocurrency will have in the future. The purchase of Kuailian licenses only helps generate Ethereum, but the value in the market of this cryptocurrency does not depend on the Company.
3.3. The Customer understands that he/she is solely responsible for the management of the Cryptocurrencies in his/her balance, as well as any losses or charges incurred by any third party.
3.4. The Parties acknowledge that any information related to the Cryptocurrency that is published and/or provided by the Company through any communication channel (including but not limited to: Web-page, official social network group, customer support, e-mail) can be changed at any time.
3.5. By agreeing to the terms of this Agreement, the Customer acknowledges and warrants that he/ she has conducted sufficient due diligence to understand the risks associated with Cryptocurrencies, and verifies that he/she is capable of understanding and accepts such risks.
3.6. By submitting an application to register as a Customer you confirm that you have understood and accept (and are able to understand and accept) the terms of the service and therefore agree to be bound by them.
You must regularly check the Website for any instructions, guidance and other information provided for on the Website.
4. Registration and Warranties
4.1. The Customer acknowledges and warrants that he/she has a full legal capacity to enter the present Agreement.
4.2. You may only apply to register as a Customer if you comply the following requirements:
- You are 18 years old or over;
- It is lawful for you to register and use the service in accordance with your jurisdiction and tax residence.
4.3. To register as a Customer, the Company may require you to provide identification or other documentation.
This may include:
- Photographic identification,
- Recent proof of address,
- Identification document,
- Or other required documentation in accordance with the Laws and Regulations.
- The Company may undertake its own identity, fraud and credit checks.
4.4. The Customer warrants the Company that all information about himself/herself provided to the Company is true, complete, accurate, not misleading and up to date.
4.5. The Customer agrees to provide the Company with all the necessary data to allow the verification of his/her identity, and agrees to in no way distort the provided information.
4.6. The Company may at any time request the Customer to provide any personal or financial information of the Account owner for KYC (Know Your Customer) and/or AML (AntiMoney Laundering) procedures, or any other internal procedures. The Company reserves the right to impose limitations on the Account dependent on the provided information.
4.7. The Customer warrants that origin of his/her funds is totally licit.
4.8. The Customer acknowledges and agrees that he/she may only stake Cryptocurrencies for his/her own benefit. By using the Web-page and/or the Service of the Company, the Customer confirms that he/she is not acting on behalf or for the benefit of any other person or entity. If breach of this section, the customer will bear all consequences resulting from his infringement.
4.9. The Customer undertakes that he/she must not stake, buy, sell, exchange, hold, own or otherwise use or exploit Cryptocurrencies in any way which is prohibited by the laws or regulations which are applicable at the time.
4.11. The Company has the exclusive right to decide whether the application for registration will be accepted and confirmed or not. If the application is accepted, the Agreement will be entered into by the Company and the Customer, and the terms and conditions will be binding.
Subject to any statutory rights the Customer may have, the Customer may not cancel the Agreement covered by these terms of service and will not be eligible for any refund.
4.12. The Company will only be able to eliminate an account when no action has been carried out in it, this means that no verification or any other action has been done in the account. The system will automatically eliminate the account if no verification has been made. If the Customer wants the account to be eliminated in a shorter period, they must contact in order to activate the elimination of account manually.
When the account is registered and activated, you will have to contact the Company to solve other incidents related to your account with the application of other articles. These incidents may include some of the following: change of sponsor, incidents with the email, incidents with the phone number, etc.
4.13. The Customer is not allowed to abuse any campaigns, discounts, and/or referral systems, provided from time to time by the Company.
4.14. The Customer is not allowed to use any means to mask the internet traffic and IP address (such as Proxy, Tor, VPN and others).
4.15. The use of the cloud-based service as a system of multilevel marketing (MLM) and / or High-yield investment projects (HYIP) is strictly prohibited.
4.16. The Customer is strictly forbidden to use or exploit errors in design of the Web-page or the Service, this also extends to any parts or features which have not been documented, and/or “program bugs” for commercial/personal gain or as means to disrupt and/or destabilize the Service and/or the Web-page.
If the Customer encounters such errors by accident, the Customer shall report the findings to the Company immediately.
4.17. Upon consolidation or merger, or any sale, assignment, transfer, lease, disposition of any kind or substantially all the properties and shares of the Company, the Customer acknowledges and agrees to be bound to the full extent to all terms set in this Agreement.
5. Personal Information and Use of the Account
5.1. To register the Customer needs to submit personal information, a valid email address (that will be used as Username and for user identification) for the Web-page account (hereinafter referred to as the “Account”), and a password (hereinafter referred to as the “Password”).
5.2. To be able to receive funds the Customer shall provide a valid Ether wallet.
5.3. In case of successful registration, the Username and Password will be allocated to the Customer. Username and Password are personal to each Customer and this information must not be disclosed to any third party.
5.4. The number of accounts is limited to 1 for each person. Each User must have one account with an ownership of 100%.
If the Company identifies more than one account under the same Customer, the first account that was created will be kept, and the remaining accounts that have been created after will be frozen until further notice.
If you have been blocked you may contact the Company to provide the information required and once the investigation is finalized, and a solution is reached through the application of the terms & conditions or policies and procedures, the Company will proceed to unblock the account.
If breach of this section continues the Company will take actions, including the following, but without limitation: (i) keep the suspension, (ii) Maintain the account(s) frozen, (iii) terminate the contract.
5.5. The Customer is solely responsible and liable for any use of the Web-page or the Service under his/her Account and the use of his/her Username and Password.
5.6. The Customer must not share his/her password with any other person or allow any other person to use his/her Account. Under no circumstances shall the Company be liable for any improper use of the Customer’s password or Account by the Customer and any other third person.
If the Customer has reasons to assume that any other person knows his/her password, or that his/her Account has been used by any other person, the Customer must inform the Company in written form immediately.
5.7. The client gives the consent that within the referral tree his sponsor and his direct referrals can see his email address and telephone.
The company has no obligation to monitor, therefore if the Customer, his sponsor or direct referrals becomes aware that the information is not available they must notify the Company immediately.
6. Submitting Request to acquire Kuais
6.1. The Customer may submit as many forms as he/she wishes to get a Kuai “Staking Capacity” with the 100 USD starting price. The Company reserves the right to decide whether orders will be successful, subject to availability, amongst other things.
6.2. The “Customer order” constitutes a request to acquire a Software license contract from the Company, therefore it does not represent a formed Contract. If the Company accepts the Order, the Company will associate the Software license Contract with the Account. Until then, an Order is considered pending and the Company reserves the right to decline the payment.
6.3. Confirmation of your order will be made by email, and through that channel of communication the Company will specify the commencement date of the Software license contract.
6.4. The time that may take to receive confirmation of the Software license contract goes from 1 to 30 working days.
6.5. Once the full payment of the Software license contract is made, the Customer will be able to receive the Cryptocurrency (rewards) on the basis of his/her stake in the Staking Pool. The earned Cryptocurrency will be transferred to the private Ether wallet upon the Customer’s request, if such a request is confirmed by the Company.
7.1. The Customer is able to purchase a Kuai “Staking Capacity” using only Ethereum; The Company does not accept payments in FIAT.
7.2. The Customer has the right to cancel the pending Order. It will not be allowed cancelling of orders which have already been confirmed.
7.3. The Customer bears sole responsibility for the information that is provided during payment, including but not limited to: information on the beneficiary’s account, the transferable amount and the payment details.
7.4. The Company reserves the right, at its sole discretion, to adjust the Software license Contract accordingly to received funds, to request the missing amount to be paid if payment is not fully done or is incorrect, and to implement other actions when information provided is insufficient. The Company may apply any of the following actions before activating the Software license Contract:
- If the amount of funds is not sufficient to fully pay the Software license Contract, the Company reserves the right, in its sole discretion, to adjust the Software license Contract in accordance with the funds received or to request the missing amount to be paid before the Contract is activated.
- If the amount of payment exceeds that of the Software license Contract, the Company reserves the right, at its sole discretion, to adjust the Software license Contract in accordance with the received funds.
- If the Customer initiates a payment with incorrect/insufficient information and/or with an incorrect or absent Account, the Company will try, if possible, to process the Order and report the error immediately.
- If the destination address does not belong to the Company (directly or through a third-party service) and/or is not associated with the Company in any way, the Company will not be liable and will reject any claims.
- The Company is not obliged to proactively resolve payment related issues without a claim submitted by the Customer.
7.5. The Company reserves the right to request proof of payment, if there are suspicions or facts that payment was not received but the Software license Contract was activated.
The Customer is obliged to provide proof of payment within 14 days of reception of such request.
If proof of payment is not provided within 14 days or provided proof is deemed insufficient and/or invalid, the Company reserves the right to reject the Customer’s request.
7.6. The Company reserves the right to switch and/or change any purchased Software license Contract’s staking type and amount of the contract, at any time.
The change of Software license Contract type will take into consideration the current market price and the Company will attempt, if possible, not to reduce the total value of the Software license Contract being changed. This means, in the event of forced change the Company will attempt, if possible, to provide a substitution Software license Contract of equal or greater total value than that of the initial Software license Contract, according to the market price at the moment of change.
7.7. All purchases are final and non-refundable.
7.8. If the client sends more funds than the “Invoices price” mark, the invoice will be updated for the total funds sent.
8. Balance and Rewards
8.1. The licenses purchased will take between 10 to 13 days to activate. This period will start on the day after the purchase of the license was made.
Once the licenses are activated, the rewards of the Staking Pool will be transmitted directly to the private wallet, which may take up to 48 hours from the date the rewards are generated.
The company does not take responsibility for any delays that are linked to the blockchain capacity of the token rewards, Ethereum and exchange providers.
Regarding fast bonuses, these will be paid on the following day the purchase was made by the referral.
8.2. The Balance can be used in the following ways:
- The Customer can receive his/her Rewards;
- The Customer can purchase additional Software license Contracts to have more KUAIS “Staking Capacity”;
8.3. The Company reserves the right to make retroactive recalculations of the Balance, including but not limited to, in the case of any error occurring in the Web-page and/or the Service, to correct any mistakes or discrepancies.
9.1. The Company provides a Platform which enables the Customers to earn rewards through the Staking pool. In return, the Company charges a one-time non-refundable fee of $ 50.95/Ethereum day price for the customers registry and the use of the back-office area/platform of the Company.
The Company will not be responsible of the creation of multiple accounts to elude the terms & conditions or policies & procedures applicable. If when creating a second account the fee is paid a second time, bear in mind that it is non-refundable.
Once the registration has been made, the Customer will gain access to the Company’s services, which include some of the following:
- Recent market developments and marketing news;
- A growth strategy that identifies and develops new market segments for current products;
- Proof of stake Software;
- Crypto Trade software.
9.2. From the date of registration, the Customer will have the right to host through the Company and access the software products.
9.3. The Customer will be allowed to buy a software license for 1,000 day (the minimum period).
The minimum period doesn’t depend on the license fee, whether the license fee/deposit amounted to $ 100 (paid in Ethereum) for 1,000 days or whether it amounted to $ 100,000 (paid in Ethereum). It is irrelevant what deposit value was made.
9.4. The Customer shall confirm and agree that the software will be provided for a period of 1,000 days and prior to the expiration of this period he/she has no right to request withdrawal/refund of the collateral.
All licenses once purchased and finalized, will be ongoing until the period of 1,000 days is over, due to the technology that is used which impedes any modification on the contracts. It is important to bear in mind that transactions cannot be undone.
The Customer agrees and accepts that software may change the currency depending on the market’s conditions. Upon the occurrence of these conditions, the Customer shall confirm and accept that if the conditions change, he/she shall not be entitled to claim damages or any compensation from the Company.
9.5. Due to the independent regulations of the countries, the classification of cryptocurrencies can differ greatly from country to country, with what has been expressly referred to here. Cryptocurrencies are not issued centrally by a sovereign issuer, but traded by a peer-to-peer network in remote trading venues. Trading takes place between equal users. There is no central regulatory organization that oversees or controls the transactions.
9.6. The delivery and receipt of any of the Customer’s Cryptocurrencies is subject to network or transaction fees charged by the blockchain.
Customer agrees to pay Blockchain transaction fees to be able to emit, record, verify, and process a transaction on the blockchain. This will not be retained by the Company.
9.7. Certain digital wallets, wallet addresses, tools, and third-party software and devices used by the Customer may also charge the Customer a fee, including a fee per transaction or a transfer fee. Customer is responsible for being aware of and paying any such fee.
9.8. The Customer is responsible for any taxes, and will have to pay them without any reduction.
9.9. The methods of payment and the respective currency of payment will be available on the Web-page or on the personal account of the Customer.
10. Referral System
10.1. The referral program allows registered Customers to receive financial rewards for attracting new customers, which they invite to the Web-page and/or the Service. See the Compensation Plan document (Kuai Plan).
10.2. Customers are allowed to advertise and publish material with their own referral link(s) if accepted by the company.
10.3. To acquire new customers, it is not allowed the use of referral links through Google Ads, or any other mean where the Customer pretends to be the Company or could induce to that error.
If the customer wants to use Google Ads to promote the services of the company it will need the company’s consent.
The Customer has to ensure that when attracting new affiliates, he/she will not pretend to be the Company or induce in any way to that error.
If the customer has acquired the consent to use Google Ads or similar campaigns, he/she will be required to not promote the referral link without any other additional content. Therefore, to avoid impersonation of the brand, there will need to be content which allows to identify the person with whom the potential client is registering. There has to be a webpage, blog, or some kind of content which allows the client to know that he is registering through an affiliate, as well as who that affiliate is.
10.4. The Customer will be able to promote himself/herself to attract new customers, using means such as the following:
- Creation of their own webpage, different from the company’s one.
- Creation of his/her own mail account using Gmail, Hotmail and others.
- The use of Instagram, Facebook or other accounts is allowed.
- Customers can create their own visiting or business card.
When promoting, the Customer will necessarily have to identify himself/herself as an “Independent Affiliate”, and will use the referred links in a correct way.
10.5. The Company will not be responsible for the accuracy and/or reliability of the information in any advertisements and/or publications about its Web-page and/or the Service created by the Customers on any third-party web-pages or resources, with or without a referral link.
10.6. In case of breach of this section, the Company will block the Customer’s account until the investigation is completed, and the Customer has complied with the terms & conditions of the Service, and any other legal documents of the Company.
10.7. When section 10 is breached, the Company will proceed as follows:
- Suspend the account of the Customer until it has sufficient information regarding the infringement.
- Will contact the Customer to inform him of the suspension of his/her account as well as request for information.
- If the Customer agrees to comply the Company will rise the suspension in a period of not less than 30 days and not more than 6 months.
- If the company has gathered all the necessary information and the Customer is not willing to collaborate the Company will use other means such as the termination of the contract.
11. Terms of the Contract; Termination and Suspension.
11.1. The Company will charge 20% from the Client license fee (non-refundable) for using the software for a contract period of 1,000 days.
11.2. When a contract has reached its expiry date, that is 1,000 days, the Customer can choose one of the following options:
- Terminate the contract: In that case the Customer will receive a total of 80% of the collateral within the staking pool. (The company is not responsible for the amount of cryptocurrencies that are in the liquidation in that period of time. The company provides a liquidity provider tool to achieve a sale of these cryptocurrencies to the Ethereum currency. It does not guarantee a certain number of coins, the percentage will depend on the number of coins that are within the Staking pool);
- Extend the contract: the contract will be extended for an additional period of time (not less than for the period of 1,000 days) with the same terms and conditions as the prior Software license contract. In this case, the Customer has no obligation to pay 20% from the license fee. However, the company reserves the right not to accept the client’s reinvestment.
11.3. The Contracts cannot be terminated or modified after its conclusion before the expiry of 1,000 days. However, the Company and the Customer can conclude several Software license Contracts with different terms and conditions, at any time.
11.4. The Software license Contract is valid until expired, until deemed unprofitable or terminated, whichever comes first.
11.5. Neither party has the right to terminate the Software license Contract unilaterally before expiry of 1,000 days, unless the circumstances expressed in this section are met.
Prior to the expiration of this period of 1,000 days the Customer has no right to request withdrawal/refund.
11.5.1. The termination of the contract will be valid when the following circumstances are met:
184.108.40.206. The process of Cryptocurrency Staking becomes unprofitable. This means that the production process will cease if the staking return becomes equal or lower than 0. If the process remains unprofitable for 21 consecutive days, the staking ceases. During a consistent 21-day period, payments will also be temporarily discontinued. If during the suspension period, the Contract-related staking is affected by factors that are out of the Company’s control, making staking profitable again, the Service will be unsuspended and the Contracts reactivated.
By unprofitable, the Company means that the staking pool may be creating coins, but these do not have a value in the market.
If the staking remains unprofitable during the period of 21 days, the Company will proceed to dismount the pool and the collateral remaining in it will be returned to Users.
220.127.116.11. If the Customer violates any of the terms set forth in this Agreement, which include, but are not limited to:
- Creating more than one account,
- Allowing unauthorized access to their account,
- Accessing the account of another User,
- Failure to provide proof or information when required by the Company during an investigation,
- Infringement of the means to advertise with the purpose of attracting new affiliates, which is disloyal to the company or towards other Customers.
- Misappropriation of the Company’s trademark, in webpages, social media or any other mean of communication.
- Disclosing of any confidential information given to the Customer at any time.
- Writing of articles, comments or any other use of media where the User insinuates or relates the Company to a scam, illegal or unlawful activities.
- Defamation of the Company.
- Disrespect any worker or Department of the Company.
- Modification of the Company’s legal documents, which include some of the following: terms & conditions, Policies & Procedures, Compensations Plan.
18.104.22.168. If the customer uses the Web-page and/or the Service fraudulently or inappropriately.
11.5.4. When circumstances in section 22.214.171.124. and 126.96.36.199. are met the Company has the right to request the unilateral termination of the Account, by giving 5 working day notice to the Customer, until the Customer is able to demonstrate:
188.8.131.52. his/her identity;
184.108.40.206. that no fraud or impropriety has occurred or been attempted.
220.127.116.11. no refund policy applies.
18.104.22.168. If the Customer’s Account has no active Contracts, or has not paid the Account activation fee, the Company may terminate the user account by giving 30 working day notice to the Customer.
11.6. The Customer understands and accepts that the software may change the currency depending on the market conditions. Upon the occurrence of these conditions, the Customer shall confirm and accept that if the conditions change, he/she shall not be entitled to claim damages or any compensation from the Company.
11.7. The Customer shall confirm and agree that the system may fail due to conditions beyond the control of the Company, and tokens cannot be calculated/charged because of market or other conditions (Force Majeure) in Ethereum. The system automatically exchanges rewards from the staking pool to Ethereum, however, this may not be possible due to market conditions.
12.1. Except as expressly provided for in this Agreement, to the maximum extent permitted by applicable law, the Company does not make any other warranty of any kind, whether express, implied, statutory or otherwise, including warranties of merchantability, fitness for a particular use and non-infringement.
12.2. The Company is not responsible or liable for the deletion, failure to store, or any loss of any customer data, including blockchain data and Cryptocurrency rewards derived, maintained, or transmitted through use of the Web-Page and/or the Services.
12.3. The Customer is solely responsible for securing its data and Cryptocurrency rewards.
12.4. The Company does not warrant that the operation of the software or the services will be error-free or uninterrupted. Nevertheless, if this occurs the Company reserves the right to make changes and corrections, without any notice.
12.5. The Company is not responsible or liable for any losses or opportunity costs resulting from blockchain network and protocol or third-party software issues, which may in turn result in the inability to process transaction on the blockchain at all or without incurring substantial fees.
13. Limitation of Liability
13.1. To the maximum extent permitted by the applicable law, the Parties, shall not be liable under this Agreement for lost revenues, opportunity costs, interruption of business, or indirect, special, incidental, consequential, exemplary, or punitive damages, of any kind, even if informed of the possibility of such damages in advance.
This limitation of liability does not apply to violations of the Company’s intellectual property rights, trade secret, indemnification obligations, or the Customer’s payment obligations.
13.2.To the maximum extent permitted by applicable law, the Company will not be held liable under this Agreement for more than the amount paid by the Customer to the Company under this Agreement, minus any Cryptocurrencies generated or received by the Customer as a result of the Customer’s use of the Web-page and/or the Services.
14.1. Unless prohibited by applicable law, the Customer will defend and indemnify the Company against any settlement amounts approved in a court of law against the Company or against the User, caused by the inappropriate use of the Web-page and/or the Services by the User.
The above means, that all damages and costs finally awarded against the Customer or Company by a court of competent jurisdiction in any formal legal proceeding filed by an unaffiliated third party before a court or government (including any appellate proceeding) will be paid by the Customer, when they derive from misuse of the Web-page and/or the Services.
15. Force Majeure
15.1. The Company will not be liable for any delay or failure to perform any obligation or deliver results under this Agreement caused beyond our reasonable control, including, but not limited to, acts of God, labor disputes or other industrial disturbances, electrical or power outages, utilities or other telecommunications failures, earthquake, storms or other elements of nature, blockages, embargoes, riots, acts or orders of government, acts of terrorism, or war. Force Majeure events include, but are not limited to, upgrades to the validation rules of a given blockchain (e.g., a “hard fork” or “soft fork”).
16.1. All communications and notices made or given pursuant to this Agreement must be in the English language.
17.1. All notices and other communications to each other required under this Agreement will be in writing and by:
- posting a notice on the Web-page; or
- sending a message to the email address associated with the parties. The e-mail address of the Company is email@example.com
17.2. Any notice the Company provides by posting on the Web-page will be effective upon posting.
17.3. Notices provided by email will be effective when the email is sent. It is the Customer’s responsibility to keep the Customer’s email address current.
18. Modification of the Terms
18.1. The Company may modify, amend, change, add or remove certain terms and conditions set forth in this Agreement at any time, with notice to you on the Backoffice and by posting the modified terms on the Company’s website.
The modifications will take effect once the Customers have clicked the accept button.
As stated in 1.5. of these terms, every Costumer will have to accept the changes by clicking the “accept” button in order to be able to continue using the Backoffice.
If the Customer does not agree to the amendments, changes, modifications or removed terms they shall not click the “accept” button, and instead will have to contact the Compliance Department so that the Company proceeds to freeze some of the functionalities in the account to avoid actions made with terms that are not agreed.
The freezing of some functionalities will not cause any economic damages or changes to the contracts that were already made, but it will not allow the new purchase of contracts or other functionalities in the platform under conditions that have not been accepted. In these cases, the contracts purchased before the changes, will remain with the terms & conditions that were in place at the time of the contract and the User will still have the right to collect the daily yields from those contracts.
19. Invalidity and Severability
19.1. If any term of this Agreement is held to be invalid or unenforceable, such provision shall not affect the other provisions in this Agreement, which will remain in full force and effect.
19.2. The parties hereby agree that any invalid or unenforceable terms will be interpreted to effect and intent of the original text. If such construction is not possible, the invalid or unenforceable terms will be severed from this Agreement but the rest of the Agreement will remain in full force and effect.
20.1. Any dispute, controversy, difference or claim arising out of or relating to this Agreement, or relating in any way to the Customer’s use of the Web-page and/or the Service, including the existence, validity, interpretation, performance, breach or termination thereof or any dispute regarding non-contractual obligations arising out of or relating to the Agreement shall be referred to and finally resolved by Estonian courts according to the laws of Estonia.
21. Governing Laws and Jurisdiction
21.1. All claims arising out of or relating to this Agreement will be governed by the laws of Estonia, excluding the Country’s conflicts of laws rules, and will be litigated exclusively in the courts of Estonia. The Customer and the Company give their consent to the jurisdiction of those courts.
21.2. The Kuailian Business Model and current set up does not require the authorization from the FSA or its supervision. Considering the rapid growth of such business industry, the establishment of some kind of regulation and licensing is highly probable. The Kuailian Platform operates under Kuailian APP OÜ (limited liability partnership).
The Company’s activities are governed by the legislation of Estonia, including, but not limited, by the following acts: Commercial Code, Value Added Tax Act, General Part of the Economic Activities Code Act, etc.
22. Entire Agreement
22.1. This Agreement sets out all terms agreed between the Parties and supersedes all other agreements between the Parties relating to its subject matter.
In entering into this Agreement, all prior oral and written communications, statements, representations or warranties (whether made negligently or innocently), except those expressly set out in this Agreement, are left unenforceable, and neither party will have any right or remedy based on them.
23. Signatures of the Parties
23.1. If you continue with purchase/ register and accept this agreement, this contract will be validated for all parties.