Last updated: September 07, 2022
By Management
THESE TERMS AND CONDITIONS “TERMS” ARE A LEGAL CONTRACT GOVERNING YOUR USE OF OUR DIGITAL TOKEN & STAKING SERVICES. THESE TERMS AND CONDITIONS ARE ENTERED INTO BETWEEN YOU AND THE MXC FOUNDATION LLC. BY ACCESSING OUR PLATFORM AND CLICKING ON “I AGREE” WITH STAKING SERVICE “T&C’S” TO USE DIGITAL TOKEN STAKING SERVICES PROVIDED BY MXC FOUNDATION LLC, YOU CONFIRM THAT YOU HAVE READ, UNDERSTOOD, ACCEPTED AND AGREE TO BE BOUND BY ALL OF THE TERMS AND CONDITIONS STIPULATED IN THESE TERMS AND CONDITIONS. IF YOU DO NOT AGREE TO ANY TERMS AND CONDITIONS STIPULATED IN THESE TERMS AND CONDITIONS OR OUR PRIVACY POLICY, OR ANY ADDITIONAL APPLICABLE TERMS AND CONDITIONS, DO NOT ACCESS OR UTILIZE OUR DIGITAL TOKEN STAKING SERVICES.
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 FORM 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 MXC FOUNDATION LLC.
STAKING SERVICES ARE NOT SUBJECT TO ANY LICENSING OR ANY OTHER AUTHORIZATION REQUIREMENTS UNDER THE LAWS OF St. VINCENT AND THE GRENADINES. AS A RESULT, THE PROVISION OF STAKING 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 SERVICES SUBJECT TO THESE TERMS AND CONDITIONS.
VALUE OF DIGITAL TOKENS MAY FLUCTUATE SIGNIFICANTLY AND THERE IS A SUBSTANTIAL RISK OF ECONOMIC LOSSES WHEN STAKING DIGITAL Tokens. BY MAKING USE OF THE SERVICES, YOU ACKNOWLEDGE AND AGREE THAT YOU ACKNOWLEDGED YOURSELF WITH THE RISK WARNING DOCUMENT PUBLISHED ON OUR WEBSITE AND: (1) YOU ARE AWARE OF THE RISKS ASSOCIATED WITH TRANSACTIONS OF DIGITAL TOKENS OR Tokens; (2) YOU SHALL ASSUME ALL RISKS RELATED TO THE USE OF THE SERVICES AND TRANSACTIONS OF DIGITAL Tokens; AND (3) MXC FOUNDATION LLC SHALL NOT BE LIABLE FOR ANY SUCH RISKS ATTACHED THERETO OR ADVERSE OUTCOMES IN ANY FORM:
1. DEFINITIONS
1.1 The following words when capitalized in these Terms have the following meanings:
Account - as it is described in the General Terms and Conditions;
MXC Foundation LLC or we or us - as it is described in General Terms and Conditions.
Stake Order - an order to stake (Digital Token).
Digital Token - as it is described in General Terms and Conditions.
Digital Token Staking Services (further - Services) - services that enable User to lock Digital Token for a set period of time to receive Staking Returns, provided by MXC Foundation LLC in accordance with these Terms.
Fiat Currency - as it is described in General Terms and Conditions.
General Terms and Conditions - MXC Foundation LLC General Terms and Conditions governing your access to our Platform and use of our services in general;
Platform - as it is described in General Terms and Conditions.
Sell/Unstake Order - an order to unstake (Digital Tokens).
Staking - locking Digital Tokens at a specific Supported Network for a period of time to receive Staking Returns.
Staking Returns - returns in Digital Tokens distributed by the Supported Network Protocol to MXC Foundation LLC as network validation, yield program or any other form of incentive and issued out to User, who stakes Digital Currency.
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 including but not limited to the process for Staking, the quantity and timing of Staking Returns.
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 RelationshipThese Terms constitute a legal agreement and create a binding contract between you and MXC Foundation LLC.
2.1.2. Supplementary Terms
Due to the rapid development of Digital Tokens, 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 MXC Foundation LLC are deemed supplementary terms that are an integral part of these Terms and shall have the same legal effect. Your use of Services is deemed your acceptance of these supplementary terms.
3. STAKING
3.1. Subject to these Terms, MXC Foundation LLC provides Services to User consisting of executing the Stake Order to the Supported Network. Digital Tokens are staked in the Supported Network and the Staking Return is transferred by and from the Supported Network. The Services of MXC Foundation LLC are limited to transferring of Digital Tokens to the Supported Network following the instructions established in the Stake Order created by the User.
3.2. By submitting a Stake Order, you provide authorization for MXC Foundation LLC to execute the requested transaction on your behalf.
3.3. MXC Foundation strives to execute your Stake Order within 24 (twenty-four) hours upon its receipt. However, there may be various circumstances when your Stake Order cannot be executed e.g. technical issues, bouts of illiquidity within the Supernodes for Digital Tokens, etc. MXC Foundation LLC shall not be liable to you that your Stake Order cannot be executed.
3.4. User agrees and accepts that exchange rates of Digital Tokens can be volatile, and that the exchange rates of Digital Tokens displayed on our DataDash App may differ from those available to external sources outside of the DataDash App.
3.5. After User confirms (submits) Stake Order to MXC Foundation LLC, such Stake Order cannot be amended or canceled.
3.6. Digital Tokens can be staked at User’s discretion, however, in some cases staked Digital Tokens can be subject to the limitations/restrictions. This includes but is not limited to bonding and nonbonding periods, ineligibility to receive Staking Returns for partial periods, and minimum balances and Digital Tokens amounts required.
3.7. MXC Foundation LLC reserves the right to determine minimum and/or maximum amounts to be staked in a single order.
3.8. There may be cases when Stake Order (staking) made by User is terminated due to issues related to Supported Network Protocol or other issues beyond MXC Foundation LLCs’ control. Such issues shall be deemed as force majeure and MXC Foundation LLC shall not be liable against the User.
4. STAKING Returns
4.1. Staking Returns are issued out at least once a month and are issued in Digital Currency. Returns (amounts and payment frequency) are determined solely by MXC Foundation LLC.
4.2. User will receive Staking Returns directly attributable to their Digital Tokens. The percentage and frequency of such transfers are determined based on the Supported Network Protocol. MXC Foundation LLC is solely responsible for Services and all Staking Returns payments will be issued to User by the Supported Network.
4.3. Any transfer of Staking Returns will be subject to Supported Network Protocol. Transfer will be made by the Supported Network to the Account from which the Digital Tokens were staked.
5. UNSTAKING
5.1. Subject to these Terms, User can receive the staked Digital Currency automatically to the respective account from where the stake (by the User) was originally placed, after the staking period has ended.
5.2. When Unstaking takes place, you provide authorization for MXC Foundation LLC to execute the requested transaction on your behalf.
5.3. MXC Foundation LLC strives to execute the unstaking (i.e. to transfer the respective amount of Digital Tokens to you) within 24 (twenty-four) hours upon the end of the unstaking date (9 successive calendar months after staking). However, there may be various circumstances when unstaking takes place cannot be executed e.g. technical issues, bouts of illiquidity within the Supernodes for Digital Tokens, etc. MXC Foundation LLC shall not be liable to you that your Unstake Order cannot be executed.
5.4. After the Unstaking Period has ended MXC Foundation LLC will automatically confirm the Unstaking Order which cannot be amended or canceled.
5.5. Staked Digital Tokens will be automatically unstaked once the unstaking period has been reached, however, in some cases amounts of Digital Tokens to be unstaked can be subject to the limitations/restrictions. This includes but is not limited to bonding and nonbonding periods, and minimum balances and Digital Tokens amounts required.
5.6. MXC Foundation LLC reserves the rights to determine minimum and/or maximum amounts to be unstaked in a single order.
6. FEES
6.1. No fees will be charged within the DataDash App when a user undertakes a stake for our Services as specified.
6.2 Users may incur fees when transferring MXC tokens to the DataDash App.
6.3. All fees are at the risk of users, users are responsible for all and any fees when depositing or withdrawing token(s) to/from the DataDash App.
7. TERMINATION
7.1. These Terms are applicable to you from the moment you access the Platform and click on “I agree with Staking Service T&C” constitute your consent to be bound by these Terms.
7.2. At any time and for any reason at its sole discretion, MXC Foundation LLC may unilaterally terminate these Terms with you without giving advance notice to you. MXC Foundation LLC shall incur no liability or obligation for the termination of these Terms with you.
7.3. Upon termination of these Terms, you will be notified of it at your email address used to register with the DataDash App.
7.4. MXC Foundation LLC is not liable to you or any third party for termination of these Terms with you irrespective of the termination reason.
7.5. We may unilaterally and immediately terminate these Terms with you where you have not got any Digital Currency staked counting over the last year period. However, if you have pending obligations 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 the DataDash App.
7.6. Upon the termination of these Terms: (i) all rights granted herein shall terminate immediately; (ii) you shall remit in full and other payments due to MXC Foundation LLC 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.
7.7. Termination of these Terms shall not exempt you from the due discharge of all obligations under these Terms to use arising before the date of termination.
7.8. 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.
7.9. Staking 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.
8. ENTRY
8.1. The MXC Foundation LLC accepts no responsibility for entries that are lost, mislaid, damaged or delayed in transmission, regardless of cause, including, for example, as a result of any delivery failure, equipment failure, technical malfunction, systems, satellite, network, server, computer hardware or software failure of any kind.
8.2. Unless otherwise stated, the prize draws are open to all DataDash App users who meet the requirements with exception of employees of the MXC Foundation LLC, their families, agents or any third party directly associated with administration of the prize draw.
8.3. All requirements for the successful application of a prize must be met, meeting the requirements does not guarantee a claim to any prize
8.4. Requirements are a one time stake of 10,000 MXC tokens may be made by each individual person, irrespective of how many DataDash accounts the individual may have
8.5. The prize is non-exchangeable, non-transferable and no cash alternative is or ever will be offered. The MXC Foundation LLC reserves the right to replace the prize with an alternative prize of equal, higher or of no value if circumstances beyond the MXC Foundation LLC’s control makes it necessary to do so.
8.6. The decision of the MXC Foundation LLC regarding any aspect of prizes or the staking draw is final and binding and no correspondence will be entered into about it.
8.7. Prizes are based on eligibility and availability and may be subject to change at any time
8.8. The MXC Foundation LLC reserves the right at any time to hold void, cancel, suspend, or amend the promotion where it becomes necessary, or where the MXC Foundation LLC deems necessary to do so
8.9. Any attempts at fraud or by not adhering to these Terms and Conditions here and within will result in an automatic disqualification
8.10. Insofar as is permitted by law, the MXC Foundation LLC, its partners, agents or distributors will not in any circumstances be responsible or liable to compensate the winner or accept any liability for any loss, damage, personal injury or death occurring as a result of taking up the prize. Your statutory rights are not affected.
8.11. Entrants must be a minimum legal age of 18 and must have the legal right to engage with cryptocurrencies / tokens within their legal state or country.
8.12. Only one entry per person is permitted.
8.13. In entering, you confirm that you are eligible to do so and eligible to claim any prize you may win. The MXC Foundation LLC may require you to provide proof that you are eligible to enter the prize draw or competition.
9. PRIZES
9.1. The prizes associated with this event can not be exchanged or traded for cash, no refunds will be issued. Prizes are also subject to change at any time and can be revoked at any time at the sole discretion of the MXC Foundation LLC
9.2. Users must perform a specific task (Staking for a predefined period) in order to receive their prize, prizes are not guaranteed under any circumstances. Tasks associated with the prize are detailed below, all staking must be performed on the MXC DataDash App to be considered valid.
9.3. Users have a chance of receiving a maximum of one the following per user. Tokens must be staked in association with this promotion and this promotion only, any other staking or entering staking within the DataDash App that is not associated with the Staking Sweepstakes promotion will not be considered and are not classed as valid:
Stake 10,000 MXC Tokens in conjunction with the DataDash Staking promotion for a six (6) month period, in exchange for 5% apy + your choice of the following prizes to the value of $100 / €100 pending MXC discretion and (whilst stocks last):
- Playstation Store Gift Card
- Steam Store Gift Card
- Amazon Gift Card
- Apple App Store Gift Card
- Google Play Store Gift Card
- Netflix Gift Card
9.4. There is a strictly limited amount of prizes (250), prize amounts and individual prizes may change at the discretion of the promoter, MXC Foundation LLC.
9.5. Once the stake has been entered into, under no circumstances can the stake be recalled before the end of the staking period (Six “6” months).
9.6. The MXC Foundation takes no responsibility for any potential loss or damage of any prizes which may occur in transit upon being sent to a successful user.
10. AMENDMENTS TO THESE TERMS
10.1. 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.
10.2. The amended Terms shall come into force in 7 (seven) calendar days upon their publication on our website. Any subsequent use of Services shall constitute an acceptance of the amended Terms.
10.3. If you do not want to accept amended Terms, please implement the procedure referred to in Article 7.5 for the termination of these Terms with us.
10.4. Promotion is strictly valid from 08.09.2022 (10:00) CET and concludes on 29.09.2022 (23:59) CET or until the prizes are exhausted (whichever event occurs first)
10.5. All Competition Rules or any disputes in response to this prize draw / competition will be governed by the laws of St. Vincent and the Grenadines, any and all disputes will be subject to the exclusive jurisdiction of the courts of St. Vincent and the Grenadines.
11. Contact Us
In order to resolve a complaint regarding the App or to receive further information regarding use of the App, please contact us at:
MXC Foundation LLC
P. O. Box 1574, First Floor, First St. Vincent Bank Ltd, James Street, Kingstown,
St. Vincent and the Grenadines
hello@mxc.org