Terms of Service
OtterSync reserves the right to update and change these Terms of Service without notice.
Introduction
Account Terms
You are responsible for maintaining the security of your delegating wallet. The Company cannot and will not be liable for any loss or damage from your failure to comply with this security obligation. You may not use the Service for any illegal purpose or to violate any laws in your jurisdiction.General Conditions
You understand that the Company uses third party vendors and hosting partners to provide the necessary hardware, software, networking, storage, and related technology required to run the validator nodes. The failure of the Company to exercise or enforce any right or provision of the Terms of Service shall not constitute a waiver of such right or provision. The Terms of Service constitutes the entire agreement between you and the Company and govern your use of the Service, superseding any prior agreements between you and the Company (including, but not limited to, any prior versions of the Terms of Service).Definitions
The definitions for some of the defined terms used in this Agreement are set forth below. The definitions for other defined terms are set forth elsewhere in this Agreement.“Additional Terms” means any terms that are specific to a particular Supported Blockchain. We may incorporate Additional Terms into this Agreement at any time via a version update noted above. The Additional Terms in effect as of the Effective Date are set forth in Schedule A, attached hereto and incorporated herein.
“Affiliate” means, with respect to any entity, any other entity that, directly or indirectly, through one or more intermediaries, controls, is controlled by, or is under common control with, such entity. The term “control” means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of an entity, whether through the ownership of voting securities, by contract, or otherwise.
“Applicable Law” means any applicable national, provincial, international, federal, state, county, and local statute, law, ordinance, regulation, rule, code, and order.
“Confidential Information” means: (i) with respect to OtterSync, the Website, and any and all source code relating thereto and any other non-public information or material regarding our legal or business affairs, financing, customers, properties, pricing, or data; and (ii) with respect to you, any non-public information or material regarding your legal or business affairs, financing, customers, properties, or data. Notwithstanding any of the foregoing, Confidential Information does not include information which: (a) is or becomes public knowledge without any action by, or involvement of, the Party to which the Confidential Information is disclosed (the “Receiving Party”); (b) is documented as being known to the Receiving Party prior to its disclosure by the other Party (the “Disclosing Party”); (c) is independently developed by the Receiving Party without reference or access to the Confidential Information of the Disclosing Party and is so documented; or (d) is obtained by the Receiving Party without restrictions on use or disclosure from a third party.
“Effective Date” means the date that you delegate your tokens.
“Net Rewards” means Rewards minus any Slashing Penalties and OtterSync commissions ("fees"). See the Additional Terms for details related to Net Rewards for each Supported Blockchain.
“Party” means you or us, as applicable, and “Parties” means you and us collectively.
“Prohibited Content” means content that: (i) is illegal under applicable law; (ii) violates any third party’s intellectual property rights, including, without limitation, copyrights, trademarks, patents, and trade secrets; (iii) contains indecent or obscene material; (iv) contains libelous, slanderous, or defamatory material, or material constituting an invasion of privacy or misappropriation of publicity rights; (v) promotes unlawful or illegal goods, services, or activities; (vi) contains false, misleading, or deceptive statements, depictions, or sales practices; or (vii) contains viruses, Trojan horses, worms, or any other harmful, malicious, or hidden procedures, routines, mechanisms, or code.
“Rewards” means any rewards that we actually receive in exchange for the Service, including, without limitation, block rewards, endorser rewards, and transaction fees.
“Service” means our provision of validation services to Supported Blockchains, including, without limitation, producing and validating new blocks, endorsing, processing transactions, and securing the network
“Slashing Penalties” means any penalty assessed by the Supported Blockchain for our failure to perform the Service.
“Supported Blockchain” means any blockchain for which OtterSync performs the Service. The list of Supported Blockchains is available on the Website. Service details for each Supported Blockchain can be found in the Additional Terms.
“Token” means any tokens that you have delegated properly to us
“Website” means ottersync.com.
2. Obligations
2.1. Our Obligations
During the Term (as defined below), we shall: (i) remit to you your share of Net Rewards as set forth in Section 3;
2.2. Your Obligations
During the Term, you shall delegate your Tokens, as you elect from time and time, and you observe your local jurisdiction's regulation and pay any required taxes as set forth in Section 3.2. Unless otherwise set forth in the Applicable Terms: (i) there are no minimum or maximum number of Tokens you may delegate to us; (ii) you may delegate your Tokens at any time; and (iii) you may undelegate ("unstake") your Tokens at any time with the understanding that OtterSync has no control over the unbonding period, which is set by the governance of the Token's blockchain.
3. Economic Terms
3.1. Remittance of Net Rewards
Net Rewards directly attributable to your Tokens will be claimed by you at any time. The percentage and timing of such reward claims: (i) vary by and are governed by each Supported Blockchain; (ii) and change periodically
3.2. Taxes
You are solely responsible for the payment of any applicable taxes with respect to your share of Net Rewards and for any other taxes resulting from the transactions contemplated herein. The Parties agree not to treat this Agreement as giving rise to a partnership for U.S. federal income tax purposes. You are responsible for ensuring that you are aware of any tax consequences in your relevant jurisdiction. You hereby agree to defend, indemnify, and hold harmless us and our officers, directors, managers, employees, and agents from any and all liabilities, costs, and expenses (including reasonable attorneys’ fees) in connection with any such taxes and related costs, interest, and penalties. The characterization of the transactions contemplated by this Agreement for U.S. federal income tax purposes is unclear, and accordingly the U.S. federal income tax consequences of delegating Tokens and the sharing of Net Rewards is uncertain. Neither OtterSync nor any of its agents shall provide any advice or guidance with respect to the tax obligations of the Delegator. You are strongly encouraged to seek advice from your own tax advisor to discuss the potential tax consequences of entering into this Agreement and the receipt of any Net Rewards.
3.3. Rewards Transfer
Any transfer of Net Rewards to you shall be made to the wallet from which you delegated the Tokens to us.
Questions about the Terms of Service should be sent to [email protected] .