Cryptocurrency Staking Terms of Service
The following Terms of Service (“Terms”) govern your use of cryptocurrency staking-lending activities (“Activities”) provided by Baltic Wallet UAB (“Baltic Wallet”, “we” or “our”), a registered company in Lithuania. By using the Activities, you (“you”, “you”, or “your”) agree to be bound by these Terms.
Staking: refers to the activity of blocking a certain amount of supported cryptocurrencies for a set period of time, in order to lend them to Baltic Wallet or other users or platforms for a set period of time, in order to receive proceeds on the lent cryptocurrencies.
To use the Activities, you must have a valid Baltic Wallet Account and also agree to the Baltic Wallet Terms of Service.
Assets are only available for cryptocurrencies supported by Baltic Wallet. Baltic Wallet reserves the right to add or remove supported cryptocurrencies at any time without notice.
You agree to abide by the specific terms and conditions for each Activity, which may include, without limitation, the minimum staking or lending period, the minimum amount of cryptocurrencies to be pledged, and applicable payout percentages. These terms and conditions will be made available on the Baltic Wallet website.
You acknowledge and agree that the Activities involve high risks, including, without limitation, the risk of loss of cryptocurrencies, the risk of fluctuation in the value of cryptocurrencies and the risk of default by the lending entities. You agree to bear such risks and not to hold Baltic Wallet liable for any losses arising from such Activities.
The Activities incur fees and commissions of up to 3% for each individual transaction, as specified on the Baltic Wallet website. These rates and fees may be changed at any time and at our discretion. You agree that you are responsible for paying all applicable fees and commissions.
The user can request the withdrawal of his cryptocurrencies after the expiry of the staking or lending period established for each Activity. Early withdrawal incurs a penalty of 80% of funds as specified in the terms and conditions of each activity.
Baltic Wallet reserves the right to modify these Terms at any time and at its sole discretion. Changes will be communicated to users with reasonable notice. Your use of the Activities following notice of changes to the Terms will constitute your acceptance of those changes.
You may not assign or transfer your rights or obligations under these Terms without Baltic Wallet’s prior written consent. Baltic Wallet may assign or transfer its rights and obligations under these Terms without your consent, provided that such assignment or transfer does not affect your rights.
If any provision of these Terms is held to be invalid or unenforceable by a court of competent jurisdiction, the remaining provisions of the Terms will remain in effect and continue to be binding on the parties.
The failure of Baltic Wallet to exercise or enforce any right or provision of these Terms shall not constitute a waiver of such right or provision.
13 To the maximum extent permitted by applicable law, Baltic Wallet shall not be liable for any indirect, incidental, special, punitive or consequential damages (including, without limitation, loss of profits, revenue, data or business opportunity) arising out of your use of activity or your breach of these Terms, whether such damages are based in warranty, contract, tort (including negligence), or otherwise, and whether or not Baltic Wallet has been advised of the possibility of such damages.
You agree to defend, indemnify and hold harmless Baltic Wallet, its directors, officers, employees, agents, suppliers and licensors from and against any and all claims, actions, causes of action, demands, liabilities, damages, losses, expenses ( including, without limitation, attorneys’ fees and expenses) arising out of your use of the Assets or your violation of these Terms.
These Terms are governed by and construed in accordance with the laws of Lithuania. For any dispute arising out of these Terms or relating to the Activities, the parties agree to attempt to resolve such disputes through amicable negotiation. In case of no agreement, the parties agree to submit the dispute to the exclusive jurisdiction of the Lithuanian courts.
For any questions, inquiries or complaints relating to these Terms or the Activities, users can contact Baltic Wallet using the following email: email@example.com
In the event of a dispute between you and Baltic Wallet, the parties undertake to resolve the dispute through friendly negotiations. If the parties fail to reach an agreement within 30 days of the date of notification of the dispute, either party may submit the dispute to a mediation process conducted by an independent mediator. If mediation does not resolve the dispute, the parties may seek legal recourse as described in Section 15 of these Terms.
Baltic Wallet shall not be liable for any delay or failure to perform its obligations under these Terms caused by events beyond its reasonable control, including but not limited to natural disasters, war, terrorism, riots, fire, flood, strike, power outages, malfunctions of telecommunication networks, governmental acts, legislation, regulations or restrictions of any government, or any other event or circumstance which cannot be prevented or controlled by Baltic Wallet (“Force Majeure”). In the event of Force Majeure, Baltic Wallet undertakes to promptly notify the user and to make all reasonable efforts to restore the normal functioning of the Activities as soon as possible.
All notices, requests and communications between you and Baltic Wallet under these Terms must be in writing and sent to the email address firstname.lastname@example.org.
The section titles in these Terms are provided for convenience only and have no legal or contractual effect. Words in the singular include the plural and vice versa, as required by the context. Words in the masculine include the feminine and vice versa, as required by the context.
These Terms do not create any agency, partnership, joint venture, representation, consultancy, partnership, franchise, dependency, fiduciary or other relationship between you and Baltic Wallet, other than that of user and service provider, as expressly provided for in these Terms.