These User Terms and Conditions are between GATENet Limited,
a registered company incorporated in Seychelles with company number 227117 and
registered address at Nobel Capital Group Limited, Room B11, First Floor
Providence Complex, Providence, Mahe, Seychelles (GATENet, we or us) and You,
the individual using the Service (You or the User).
2. General Conditions
2.1 These Terms of Service (hereinafter Terms) govern Your
access and use of the Services available via the GATENet staking platform. The
Terms constitute the legal agreement between You and GATENet.
2.2 You should read these Terms carefully before You use the Services
2.3 By commencing the use of the Services, You confirm that You fully agree to
all the terms and conditions set out in these Terms. If You do not agree to the
terms and conditions set out in these Terms, then You may not use the Services.
Terms that are written in these Terms in the upper case
first letter will hereinafter be used in the following meanings, unless the
context indicates a different meaning:
“Platform” is a system provided by GATENet via the Website;
“Content” means text, design, data, video content or other intellectual
property, content or information, made available to You by GATENet;
“Party” means each one of You and GATENet and “Parties” means You and GATENet
“Services” means the services provided by GATENet to You which consists of, but
not limited to, a digital staking platform for GATENet tokens who can receive
“GATENet, “us”, “we” or “our” means GATENet;
“Wallet” means the cryptocurrency wallet where Your utility tokens are held;
“Website” means the Website accessible at https://gatenet.io/ including its subdomains, programming
code, related technologies, know-how, databases, design and Content therein;
“You” or “Your” or “User” or “Users” means a person using the Website, and/or
Services provided by GATENet.
4. General Service Description
GATENet’s services include, but not limited to:
4.1. GATE Token Staking Platform – a non-custodial Staking Platform, built to
operate on the Ethereum blockchain and provide Staking and Awards functionality
to holders of GATENet’s ERC-20 GATE token. The Platform allows GATE token
holders to participate in Staking and earn Interest on locked tokens, without
the need for GATENet to hold a user’s GATE tokens. Staked tokens are held using
a smart contract on the Ethereum blockchain in a process whereby the user needs
to approve the transaction.
The smart-contract that is used for staking, by design, has a minimum lock-in
period, whereby tokens that are staked can’t be withdrawn until that minimum
period has expired. Additionally, when a user claims his or her tokens, there
will be an unlock period before the tokens are released. This is a function of
the smart contract = cannot be bypassed.
5. Restrictions and Obligations
5.1 You agree that You will not do any of the following
while using or accessing the Services:
5.1.1 Reproduce, modify, adapt, prepare derivative works
based on, perform, display, publish, distribute, transmit, broadcast, sell,
license or otherwise exploit the Platform or Website
5.1.2 Use the Platform or Website in a commercial manner
5.1.3 Circumvent, disable or otherwise interfere with security related features
of the Platform, Website, services, or features that prevent or restrict use or
copying of any Content;
5.1.4 Interfere with or disrupt (or attempt to interfere with or disrupt) any
web pages available on the Website, servers or networks connected to the
Platform or Website;
5.1.5 Attempt to probe, scan or test the vulnerability of any our system or
network or breach or impair or circumvent any security or authentication
measures protecting the Platform, Website and Services;
5.1.6 Attempt to decipher, decompile, disassemble or reverse engineer any of
the software used to provide the Platform, Website and Services;
5.1.7 Use the Website, App or Services in any manner not permitted by these
5.1.8 Encourage or instruct any other individuals to do any of the foregoing or
to violate these Terms.
5.2 You will not assign these Terms or assign any rights or delegate any
obligations hereunder, in whole or in part, whether voluntarily or by operation
of law, without our prior written consent. Any purported assignment or
delegation by You without our appropriate prior written consent will be null
5.3 We may assign these Terms or any rights hereunder without Your consent.
6. Geographical and Other Restrictions
6.1 If the Customer is a legal entity then You accept the
Terms on behalf of the legal entity, You must have the legal authority to
accept the Terms on that entity’s behalf, and You confirm that the legal entity
has been established lawfully and acts according to the law.
6.2 The Platform may not be appropriate for use in all jurisdictions. By
accessing or using the Platform, You agree that You are solely and entirely
responsible for compliance with all laws and regulations that may apply to You.
You further agree that we have no obligation to inform You of any potential
liabilities or violations of law or regulation that may arise in connection
with Your access and use of the Interface and that we are not liable in any
respect for any failure by You to comply with any applicable laws or
GATENet does not allow usage of the Platform to users from the following
126.96.36.199 People’s Republic of China
188.8.131.52 North Korea
You must be of legal age in the jurisdiction in which You reside but not
Younger than 18 years old, and You have the legal capacity to enter into
the Terms and be bound by them.
7. Intellectual Property
7.1 Unless otherwise clearly stated, all copyright and other
IP rights present in the Services or displayed in connection with the Services
and on the Platform/Website, registered or not, are owned by or licensed to
GATENet. The foregoing also applies towards any software solutions or parts of
it, programs and code present in the Service.
7.2 Subject to Your compliance with these Terms, we give You a personal,
worldwide, royalty-free, non-assignable and non-exclusive license to access and
use the Website, Platform and Services for Your own personal use. This license
is for the sole purpose of enabling You to use and enjoy the benefits of the
Website, Platform and Services in the manner permitted by these Terms.
7.3 The Website, Platform and Services may be used and accessed for lawful
purposes only. You agree to abide by all applicable local, state, national and
foreign laws and regulations in connection with Your use of the Website, App
8. No Warranties
8.1 The Services are provided on an “as is” and “as
available” basis, without any warranty or representation expressed or implied.
GATENet does not make any representations or give warranties that the access to
the Platform or use of the Services will be continuous, uninterrupted, timely
8.2 GATENet does not warrant the accuracy of the data gathered by using the
8.3 GATENet does not assume any obligation to and does not warrant that it will
create or include additional features or functionality for the Services besides
the existing ones.
8.4 GATENet does not warrant that access to the Platform will be uninterrupted
or error-free, nor does it warrant that the Content will be permanently stored
totally or partially in the cloud software, without modifications or
9. Tax Payments
9.1 GATENet is not liable for any tax payments in the name
of the user (You).
9.2 This is users’ obligation to make Tax payments in accordance with their
10. GAS Fees
In order to interact with the Platform, certain actions,
such as staking utility tokens and withdrawing utility tokens, require a GAS
fee to be paid in ETH. These fees are controlled by the Ethereum blockchain.
GATENet does not receive any portion of these GAS fees, and has no control over
the amount of GAS required to interact with the Platform. All GAS fees are paid
by the user.
11.1 GATENet does not offer professional advice in relation
to investments. It is the user’s responsibility to seek professional
investment-related advice before and during using the Services and engaging in
11.2 GATENet is not liable for any damage connected with the temporary
impossibility of accessing the Website or using the Services.
11.3 You must take into account all the risks related to the nature of the
Services. GATENet will not be liable in case such risks materialise.
11.4 GATENet assumes no liability for any damages caused by third parties or by
circumstances outside the control of GATENet (force majeure).
12. Risk Factors
Before using any of GATENets’ Services, You should ensure
that You fully understand and can afford to undertake the risks involved. You
should carefully read and make sure You understand our GATE Token Staking Risk
Factors page, which lists some, but not all of the risks involved in holding,
trading and using utility tokens generally, and using GATENet’s services
specifically. The risks listed below and in our GATE Token Staking Risk Factors
page are intended to provide You with a general outline of the risks involved,
but cannot capture all such risks.
These Terms and Your use of any of our Services do not create a fiduciary
relationship between us and You; Your GATE tokens are not held by us, but by an
Ethereum Smart Contract which You the user must approve. GATE tokens staked in
the platform are not held by GATENet as a custodian or fiduciary, are not
insured by any private or governmental insurance plan (including the federal
deposit insurance corporation (fdic) or the securities investor protection
corporation (sipc)), and are not covered by any compensation scheme.
There are significant risks associated with Utility Tokens, and You are solely
responsible to ensure You understand such risks and assess whether such risks
are appropriate for You. GATENet does not make any offers, recommendations or
invitations for You to deal in Utility Tokens or use any services, and does not
take into account Your personal circumstances, financial situation, needs or
goals. Before making any financial decision, You should carefully assess Your
financial situation and capacity, and only use funds that You can afford to
lose. Before entering into any transaction or using any of the Services You
should ensure that You understand and have made an independent assessment of
the suitability and appropriateness of a transaction into which You are
entering and the nature and extent of Your exposure to risk of loss in light of
Your own objectives, financial and operational resources and other relevant
circumstances. Past performance is no guarantee of future results.
The nature of Utility Tokens may lead to an increased risk of fraud or
cyber-attack, including rollback attacks or Blockchain reorganizations. The
nature of Utility Tokens means that any technological difficulties experienced
by GATENet or third parties may limit, delay or prevent the access or use of
Utility Tokens and/or cause losses of Utility Tokens. Although GATENet takes
precautionary measures to protect against cyber threats, circumstances may
arise where losses or damages are incurred.
In light of these risks, which are only some of the risks involved in using the
Services and holding or trading in Utility Tokens, and do not constitute an
exhaustive list of such risks, You should carefully consider whether holding or
trading Utility Tokens in general and/or using our Services is suitable for You
in light of Your financial condition.
13.1 GATENet may make amendments to these Terms and the
13.2 If any of the provisions of these Terms is found to be null and void or
otherwise invalid, this shall not have an effect on the validity of the other
provisions of these Terms.