Digital Assets Farming Services
Terms and Conditions
Date of entry into force: 15-01-2023
WE URGE YOU TO DOWNLOAD A COPY OF THESE TERMS AND CONDITIONS FOR FUTURE REFERENCE AS THEY MAY CHANGE FROM TIME TO TIME AND SAVE IT TO YOUR COMPUTER TO HAVE IT AVAILABLE FOR REVIEW ANYTIME. IN CASE YOU CHOOSE NOT TO DO SO, THESE TERMS AND CONDITIONS ARE ALWAYS AVAILABLE ON THE WEBSITE.
THESE TERMS AND CONDITIONS FORMS AN INTEGRAL PART OF THE GENERAL TERMS AND CONDITIONS, WHICH ESTABLISH TERMS AND CONDITIONS APPLICABLE TO ACCESS AND USE OF OUR PLATFORM. CONSENT TO THESE TERMS AND CONDITIONS, WHICH RESULTS IN A LEGAL CONTRACT, SHALL BE DEEMED TO BE THE ENTRY INTO FORCE OF THE ADDITIONAL PROVISIONS OF THE GENERAL TERMS AND CONDITIONS ESTABLISHING THE RELATIONSHIP BETWEEN YOU AND ATHELEUM.
FARMING SERVICES ARE NOT SUBJECT TO ANY LICENSING OR ANY OTHER AUTHORIZATION REQUIREMENTS. AS A RESULT, THE PROVISION OF FARMING SERVICES UNDER THESE TERMS AND CONDITIONS ARE NOT SUBJECT TO SUPERVISION BY ANY SPECIFIC SUPERVISORY AUTHORITY. AS A CONSEQUENCE, REGULATORY PROTECTIONS ASSOCIATED WITH FINANCIAL SERVICES SUBJECT TO AUTHORIZATION SUCH AS INVESTOR OR DEPOSIT PROTECTION SCHEMES ARE NOT AVAILABLE TO YOU WITH RELATION TO FARMING SERVICES SUBJECT TO THESE TERMS AND CONDITIONS.
VALUE OF DIGITAL ASSETS MAY FLUCTUATE SIGNIFICANTLY AND THERE IS A SUBSTANTIAL RISK OF ECONOMIC LOSSES WHEN FARMING DIGITAL ASSETS. BY MAKING USE OF THE FARMING SERVICES, YOU ACKNOWLEDGE AND AGREE THAT YOU ACKNOWLEDGED YOURSELF WITH THE RISK STATEMENT PUBLISHED ON OUR WEBSITE AND: (1) YOU ARE AWARE OF THE RISKS ASSOCIATED WITH TRANSACTIONS OF DIGITAL ASSETS; (2) YOU SHALL ASSUME ALL RISKS RELATED TO THE USE OF THE FARMING SERVICES AND TRANSACTIONS OF DIGITAL ASSETS; AND (3) ATHELEUM SHALL NOT BE LIABLE FOR ANY SUCH RISKS ATTACHED THERETO OR ADVERSE OUTCOMES.
1.1. The following words when capitalized in these Terms have the following meanings:
Account - as it is described in General Terms and Conditions.
Atheleum or we or us– as it is described in General Terms and Conditions.
Digital Assets – liquidity pool or liquidity provider tokens (LP tokens). LP tokens are tokens issued to liquidity providers on the Supported Network. LP tokens are proof that you own a piece of the liquidity pool you farm your assets in.
Digital Assets Farming Services (hereinafter – Farming Services) – services that allow User to receive Farming Rewards by farming Digital Assets to Supported Network through the Atheleum Platform.
Fiat Currency– as it is described in General Terms and Conditions.
General Terms and Conditions– Atheleum General Terms and Conditions governing your access to our Platform and use of our services in general.
Farming Rewards – Digital Assets paid at a particular rate determined by Supported Network Protocol for the use of Digital Assets farmed by the User.
Farm Order – an order to farm Digital Assets.
Platform – as it is described in General Terms and Conditions.
Redeem/ Redemption Order – an order to pay back Digital Assets to the User.
Supported Network – any blockchain network for which our Platform is able to perform the Service.
Supported Network Protocol– the rules by which the Supported Network operates.
Terms – these Terms and Conditions.
User or you– as it is described in General Terms and Conditions.
1.2. Other capitalized words which are not defined above are understood as they are defined in the General Terms and Conditions.
2. GENERAL PROVISIONS
2.1 About These Terms
2.1.1 Contractual Relationship These Terms constitute a legal agreement and create a binding contract between you and Atheleum.
2.1.2 Supplementary Terms Due to the rapid development of Digital Assets, these Terms do not enumerate or cover all rights and obligations of each party, and do not guarantee full alignment with needs arising from future development. Therefore, all other agreements entered into separately between you and Atheleum are deemed supplementary terms that are an integral part of these Terms and shall have the same legal effect. Your use of Farming Services is deemed your acceptance of these supplementary terms.
2.1.3 Contractual Relationship These Terms constitute a legal agreement and create a binding contract between you and Atheleum.
3. DIGITAL ASSETS FARMING
3.1.1 Atheleum provides Farming Services to User consisting of executing the Farm Order to the Supported Network. Digital Assets are transmitted to the Supported Network and the Farming Rewards is transferred by and from the Supported Network. The Farming Services of Atheleum are limited to transferring of Digital Assets to the Supported Network following the instructions established in the Farm Order created by the User.
3.1.2 By submitting a Farm Order, you provide authorization for Atheleum to execute the requested transaction on your behalf and your own risk according to the specific Supported Network Protocol conditions to which you can get familiarized on the Supported Network's official website.
3.1.3 Atheleum undertakes to use its best endeavours to execute the Farm Order at, or close to, the market exchange rate displayed to the User at a time of creating the Farm Order. During excess volume, bouts of illiquidity or other volatility within the market for Digital Assets the final rate at which trades are executed may differ from the prevailing rate indicated at the time of creating the Farm Order. Atheleum cannot guarantee and does not do so that the Farm Order will be executed under exact conditions based on which the Farm Order was created.
3.1.4 Atheleum strives to execute your Farm Order within 24 (twenty-four) hours upon its receipt. However, there may be various circumstances when your Farm Order cannot be executed e. g. issues with related third persons, technical issues, bouts of illiquidity within the market for Digital Assets, etc. Atheleum shall not be liable to you that your Farm Order cannot be executed.
3.1.5 User agrees and accepts that exchange rates of Digital Assets can be volatile, and that the exchange rates of Digital Assets displayed on our website may differ from those available to external sources outside of our website.
3.1.6 After User confirms (submits) Farm Order to Atheleum, such Farm Order cannot be amended or cancelled.
3.1.7 Digital Assets can be farmed at User’s discretion, however, in some cases farmed Digital Assets can be subject to the limitations/ restrictions. This includes but is not limited to bonding and nonbonding periods, ineligibility to receive Farming Rewards for partial periods, and minimum balances and Digital Assets amounts required
3.1.8 Atheleum reserves the right to determine minimum and/ or maximum amounts to be farmed in a single order indicating such restrictions here.
3.1.9 There may be cases when Farm Order made by User is terminated due to issues related to Supported Network Protocol or other issues beyond Atheleum control. Such issues shall be deemed as force majeure and Atheleum shall not be liable against the User.
3.2. FARMING REWARDS
3.2.1 Farming Rewards are calculated at least once a week and are paid in Digital Assets.
3.2.2 User will receive Farming Rewards directly attributable to their Digital Assets. The percentage and frequency of such transfers are determined based on the Supported Network Protocol. Atheleum is solely responsible for Farming Services and all Farming Rewards will be paid to User by the Supported Network.
3.2.3 Any transfer of Farming Rewards will be subject to Supported Network Protocol. Transfer will be made by the Supported Network to the Account from which the Digital Assets were farmed.
3.3.1 Subject to these Terms, User may submit Redeem Order regarding the respective amount of Digital Assets previously farmed by the User. The repayment provided by Atheleum means the transfer of the respective amount of Digital Assets to User following the instructions established in the Redeem Order created by the User.
3.3.2 By submitting a Redeem Order, you provide authorization for Atheleum to execute the requested transaction on your behalf.
3.3.3 Atheleum strives to execute your Redeem Order (i. e. to transfer the respective amount of Digital Assets to you) within 24 (twenty-four) hours upon its receipt. However, there may be various circumstances when your Redeem Order cannot be executed e. g. issues with related third persons, technical issues, bouts of illiquidity within the market for Digital Assets, etc. Atheleum shall not be liable to you that your Redeem Order cannot be executed.
3.3.4 After the User confirms (submits) Redeem Order to Atheleum, such Redeem Order cannot be amended or cancelled.
3.3.5 Farmed Digital Assets can be repaid at User’s discretion in full or in part, however, in some cases amounts of Digital Assets to be repaid can be subject to the limitations/ restrictions. This includes but is not limited to bonding and nonbonding periods, and minimum balances and Digital Assets amounts required.
3.3.6 Atheleum reserves the right to determine minimum and/ or maximum amounts to be repaid in a single order indicating such restrictions here.
4.1 We shall charge you and you agree and undertake to pay to us the fees for our Farming Services as specified here.
4.2 Atheleum may, in its absolute sole discretion, update the fees for Farming Services at any time. Any updated fees for Farming Services will apply to any of your use of Farming Services that occurs following the effective date of the updated fees. If no effective date of the updated fees is specified, then updated fees come into force immediately upon their publication
4.3 You authorize Atheleum to deduct from your Digital Assets held by Atheleum any applicable fees that you owe to Atheleum.
4.4 Please ensure that the required fees due from you are available to us on the due date. If you do not have enough Digital Assets to pay the fees or any other amounts due, we reserve the right to suspend the provision of our Farming Services to you until such fees/ amounts due will be paid to us.
5. SUPPORTED NETWORK PROTOCOLS
5.1 We do not own or control the Supported Network Protocols through which Farming Services are provided. Most often, the Supported Network Protocols are open source, and anyone can use, copy, modify, and distribute them.
5.2 We assume no responsibility and no liability for the operation of the Supported Network Protocols, and we are not able to guarantee the functionality or security of Supported Network Protocols operations. You acknowledge and accept the risk that Supported Network Protocols may change. Any such material operating changes of Supported Network Protocol may materially affect the availability, value, functionality, and/ or the name of the Digital Assets you have farmed. We do not control the timing and features of these material operating changes.
5.3 You acknowledge and accept the risks of operating changes to Supported Network Protocols and agree that we are not responsible and not liable for such operating changes and not liable for any loss of value you may experience as a result of such changes in operating rules.
6.1 We do not own or control the Supported Network Protocols through which Farming Services are provided. Most often, the Supported Network Protocols are open source, and anyone can use, copy, modify, and distribute them.
6.2 At any time and for any reason at its sole discretion, Atheleum may unilaterally terminate these Terms with you without giving advance notice to you. Atheleum shall incur no liability or obligation for the termination of these Terms with you.
6.3 Atheleum reserves the right to terminate all or respective amount of your farmed Digital Assets at any time and for any reason at its sole discretion without giving advance notice to you. Atheleum will transfer all or respective amount of your farmed Digital Assets and all or respective amount of Farming Rewards, accumulated up to the date of termination execution by Atheleum to your Account.
6.4 Upon termination of these Terms, you will be notified of it at your email address used to register with Atheleum.
6.5 Atheleum is not liable to you or any third party for termination of these Terms with you irrespective of the termination reason.
6.6 You may terminate these Terms with us at any time by giving us a respective notification. Your notification should be issued in writing by email used to register with Atheleum and shall only be processed if you have no pending obligation to us; otherwise, these Terms will not be terminated until you fulfil any and all your obligations towards us, unless Atheleum is in breach these Terms and such breach was not cured upon your request issued by email and therefore, you are not able to fulfil your obligations.
6.7 We may unilaterally and immediately terminate these Terms with you where you have not got any Digital Assets farmed counting over the last year period. However, if you have pending obligation to us, we may not terminate these Terms with you until you fulfil any and all your obligations towards us. Upon termination of these Terms, you will be notified of it at your email address used to register with Atheleum.
6.8 Upon the termination of these Terms: (i) all rights granted herein shall terminate immediately; (ii) you shall remit in full all fees and other payments due to Atheleum according to these Terms accruing prior to the date of termination; (iii) any provision of these Terms that by its very nature or context is intended to survive any termination, cancellation or expiration hereof, shall so survive; and (iv) all other performance obligations of both parties under these Terms shall cease.
6.9 Termination of these Terms shall not exempt you from the due discharge of all obligations under these Terms to us arising before the date of termination.
6.10 Termination of these Terms shall not mean the termination of the General Terms and Conditions as well as our other services terms and conditions concluded with you.
6.11 Farm or Redeem Orders initiated under the Terms before their termination shall be completed in accordance with the provisions of the Terms applicable before their termination, unless otherwise agreed by you and us.
7. AMENDMENTS TO THESE TERMS
7.1 We shall have a right at any time to unilaterally amend these Terms including any part thereof by publishing the amended Terms on our website. The amended Terms shall come into force in 7 (seven) calendar days upon their publication on our website.
7.2 In cases when the Terms are amended by adding new functionalities to the Farming Services, and your existing rights and obligations remain unchanged, the Terms shall come into force upon their publication on our website or from the effective date specified.
7.3 Any subsequent use of Farming Services shall constitute an acceptance of the amended Terms.
7.4 If you do not want to accept amended Terms, please implement the procedure referred to in Article 6.6 for the termination of these Terms with us