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Nethermind Starknet Staking Supplemental Terms

These terms are a Supplement to the Nethermind Terms of Use for the Voyager Site (Voyager Site Terms). This Supplement applies in each case where you choose Nethermind as the validator to which you delegate your STRK tokens.

Any undefined capitalised terms used shall have the meaning given to them in the Voyager Site Terms, the terms of which are hereby incorporated into this Supplement by reference.

By choosing Nethermind as your validator and delegating your STRK tokens, you acknowledge and agree to the following terms:

  1. Nature of services.

1.1. Validator operations.

  • a. Nethermind operates a Starknet validator node that allows STRK token holders to delegate their stake.
  • b. Nethermind maintains its validator infrastructure in accordance with the protocol requirements.

1.2. Protocol governance.

  • a. The STRK staking and delegation rules are established by the Starknet Foundation. They can be found in the Starknet staking documentation, available here: https://docs.starknet.io/staking/overview/.
  • b. These rules are outside Nethermind's control and subject to change.
  • c. Protocol upgrades may affect staking mechanics and rewards.

1.3. Non-custodial service.

  • a. Nethermind does not at any point assume control or custody of delegated STRK tokens.
  • b. All delegation actions are performed directly through smart contracts.
  • c. Users retain full control of your tokens at all times. You have the sole discretion regarding your choice to delegate, the delegation amounts and timing.
  • d. Users are free to undelegate their stake by following the relevant procedure detailed here: https://docs.starknet.io/staking/exiting-staking/.
  1. Rewards.

2.1. Calculation. Staking rewards are calculated according to the formula set out in the Starknet documentation.

2.2. Distributions. Rewards are distributed automatically through smart contracts.

2.3. Taxes. You are responsible for paying any taxes related to your STRK tokens, whether this involves appreciation in value, capital gains, general income (including those from staking rewards), or any other types of taxable income. Consider consulting a tax professional before engaging in crypto staking.

  1. Risks and liability.

3.1. Risks. By delegating STRK tokens to Nethermind’s validator, you expressly acknowledge and accept the risks associated with staking, included but not limited to:

  • a. Staking mechanics or rewards being affected by protocol upgrades or changes;
  • b. The staking protocol being subject to exploits or unforeseen vulnerabilities;
  • c. Losses due to fluctuations in value of STRK tokens;
  • d. Rewards dilution due to changes in network participation;
  • e. Losses due to any potential lock-up periods;
  • f. Changes in applicable laws or regulations.

All staking activities are conducted at your own risk. You are responsible for doing your own due diligence on STRK staking and delegation.

3.2. Warranties. Nethermind hereby disclaims all warranties, express or implied, relating to your delegation of STRK tokens to us, including but not limited to any warranties of expected profit, validator performance, reward consistency, and token value stability. Nethermind has no control over, and is not liable for any fluctuations in the value of the token. For the avoidance of doubt, term 5.2. of the Voyager Site Terms applies also where Nethermind is your chosen validator.

3.3. Liabilities. Nethermind will not be liable for any claims or damages whatsoever associated with your delegation to, inability to delegate to, or your interaction with other delegates of, the Nethermind validator, including any direct, indirect, incidental, special, exemplary, punitive or consequential damages, or loss of funds, profits, cryptocurrencies, tokens, or anything else of value**.**

  1. Modification.

We reserve the right to modify this Supplement at any time. Continued delegation to our validator following any modifications constitutes acceptance of the updated terms.

  1. Governing law.

This Supplement shall be governed by and construed in accordance with English law.

By delegating to our validator, you acknowledge that you have read, understood, and agree to be bound by this Supplement.

Last Updated: 22 November 2024