Welcome! Thank you for your interest in Asset Rewards, an automatic staking rewards program. You agree and understand that by accessing or using Gemini's Asset Rewards service ("Asset Rewards"), you are agreeing to enter into these Asset Rewards Program Terms (the "Program Terms") by and between you and Gemini Trust Company, LLC or Gemini Moonbase, LLC (collectively, "Gemini"), and be legally bound by their terms and conditions, so please read them carefully.
Please note that these Program Terms are specific to Asset Rewards and must be read together with the Gemini User Agreement, which also governs Asset Rewards. If any term of these Program Terms is unacceptable to you, please do not use Asset Rewards. The words "we," "us," or "our" in these Program Terms refer to Gemini.
Using Asset Rewards
You agree and understand that these Program Terms are subject to and supplementary to the terms and conditions set forth in your User Agreement(s). Your use of Asset Rewards must comply with your User Agreement(s). In the event of conflict between your User Agreement and these Program Terms, these Program Terms control on matters specific to Asset Rewards.
Feel free to print and keep a copy of these Program Terms. We reserve the right to change any of these terms and conditions at any time with notice. You can always find the latest version of these Program Terms here on our website. By accessing or using Asset Rewards following any change to these Program Terms, your access or use shall constitute your agreement to the amended terms, and you agree to be legally bound by them. You should therefore read these Program Terms from time to time. If you do not agree to be bound by these Program Terms, you should not access or use Asset Rewards.
Permission
Subject to the terms and conditions set forth in these Program Terms, we hereby grant to you a non-assignable, non-exclusive, worldwide, and royalty-free limited license to use our Asset Rewards service. You may not use Asset Rewards if (i) you are not at least 18 years old and do not have the legal capacity to enter into these Program Terms, (ii) you are a person barred from using Asset Rewards under the applicable laws of the United States or other countries, including OFAC-sanctioned individuals, or (iii) you do not agree to be legally bound by these Program Terms in their entirety.
How Asset Rewards Works
Asset Rewards is a program that automatically generates staking rewards on eligible crypto balances held in your Gemini account. When you are enrolled in Asset Rewards, Gemini aggregates eligible customer balances and stakes a portion of those assets through dedicated validators on the blockchain. When those validators earn rewards from the network, Gemini distributes those rewards to enrolled customers proportionate to their time-weighted eligible balance, after deduction of Gemini's commission.
Your assets are never locked, debited, or moved outside your control as a result of Asset Rewards participation. Rewards are accrued continuously and credited to your trading balance once a minimum reward threshold is met (approximately $1 USD equivalent per asset). Pending rewards are displayed in your account at all times and represent your accrued claim on Asset Rewards for that period.
Supported Assets and Availability
Asset Rewards currently supports SOL, MON, and ETH. The list of Supported Assets is subject to change at any time. Gemini may add or remove Supported Assets with 14 days' notice. If a Supported Asset is removed from Asset Rewards, enrolled customers will be automatically un-enrolled for that asset, pending rewards will be credited, and staked balances will return to your trading balance. Staked assets are not subject to the protections of the Federal Deposit Insurance Corporation (FDIC), the Securities Investor Protection Corporation, or any other similar protections.
Asset Rewards may not be available in all jurisdictions. See the Enrollment section below for jurisdiction-specific details.
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Default Enrollment (Opt-Out States)
For customers residing in states other than California, Illinois, New Jersey, Texas, Washington, Massachusetts, and New York, enrollment in Asset Rewards is automatic unless you opt out within the specified opt-out window (for existing customers at launch) or anytime after enrollment (for new customers).
Customers who open accounts after the opt-out deadline are automatically enrolled upon account activation, with no additional opt-out window. They may opt out anytime thereafter.
By continuing to use your Gemini account after automatic enrollment takes effect, you affirmatively consent to these Program Terms and authorize Gemini to implement Asset Rewards on your behalf. You may opt out anytime, free of charge, by toggling Asset Rewards off in Account Settings. Opting out takes effect at the next reward snapshot interval.
Affirmative Opt-In (CA, IL, NJ, TX, WA, MA)
If you reside in California, Illinois, New Jersey, Texas, Washington, or Massachusetts, you are not automatically enrolled in Asset Rewards. You must affirmatively opt in to participate. Enrollment requires you to toggle Asset Rewards on in Account Settings. There is no deadline for opt-in — you may enroll at any time.
Your affirmative opt-in constitutes express consent to these Program Terms and is required by the financial services and consumer protection regulations in those states.
Excluded Jurisdictions (New York)
If you reside in New York, you are excluded from Asset Rewards and cannot enroll. Gemini is coordinating with the New York Department of Financial Services regarding potential future availability.
Other Eligibility Restrictions
Asset Rewards is available only to individual Eligible Customers in good standing. The following are excluded: (a) residents of jurisdictions Gemini excludes from time to time; (b) OFAC-sanctioned individuals; (c) institutional accounts, custody-only accounts, API-only accounts, omnibus accounts, and sub-custodial accounts.
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Eligible Balances and Participation
Your Eligible Balance for each Supported Asset is calculated as:
Trading Balance − (Open Order Holds + Pending Withdrawal Holds + Margin Collateral + Earn Balances + Conventional Staking Balances), subject to the Per-User Cap for that asset.
Per-User Caps: There is a maximum Eligible Balance per customer for each Supported Asset:
SOL: 10,000 SOL
MON: 500,000 MON
ETH: 2,500 ETH
These caps are designed to manage concentration risk and ensure program stability. If your balance exceeds the Per-User Cap, only the capped amount generates Asset Rewards. Balances above the cap are not enrolled in Asset Rewards and will not generate rewards. If your balance decreases below the cap, only the amount up to your current balance generates rewards. Caps may be adjusted over time with notice based on program performance and liquidity management needs.
Gemini monitors concentration risk across the Asset Rewards program to ensure program stability. This includes tracking the distribution of eligible balances across customers and adjusting Per-User Caps if necessary to prevent excessive concentration.
Staking Targets and Liquidity
Gemini targets staking approximately 50% of the aggregate Eligible Balance pool over time. Gemini may begin at a lower staking percentage upon launch and increase toward the 50% target methodically based on program stability, customer redemption patterns, and operational capacity. This gradual ramp-up allows Gemini to monitor program performance and adjust liquidity management accordingly.
Dual-Product Coexistence
You may participate in both Asset Rewards and Gemini's conventional staking product. However, an asset cannot generate rewards in both programs simultaneously. Conventional staking balances are automatically excluded from Eligible Balance calculations for Asset Rewards. If you move an asset from Asset Rewards to conventional staking (or vice versa), the asset is automatically removed from the source program and enrollment in the destination program will begin at the next reward snapshot interval. This prevents double-counting of rewards and simplifies tax reporting.
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Rewards: Accrual and Distribution
How Rewards Are Calculated
Your Asset Rewards are calculated using your Time-Weighted Eligible Balance (TWEB), the weighted average of your Eligible Balance across hourly snapshots.
Your Net Reward = (Your TWEB ÷ Total Program TWEB) × Total Program Net Rewards
Gross Rewards (staking rewards earned by validators) are netted against Gemini's 30% commission and validator network fees, with the remainder distributed to customers.
Rewards Crediting
Net Rewards accrue continuously and are credited to your trading balance once a minimum reward threshold is met (approximately $1 USD equivalent per asset). Pending Rewards are visible in your account at all times and represent your accrued claim on Asset Rewards for that period.
Crediting Mechanics
Pending rewards represent your accrued claim on Net Rewards owed to you. These are credited to your account when the minimum threshold is met.
Reward Variability
Gross Rewards are variable and not guaranteed. Rewards depend on network staking rates, validator performance, program participation levels, and blockchain protocol conditions. Rewards may vary, decrease, or drop to zero at any time.
GEMINI DOES NOT GUARANTEE THAT YOU WILL RECEIVE ANY ASSET REWARDS, INCLUDING THE ESTIMATED ASSET REWARDS RATES.
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Risks and Slashing
Risk Acknowledgment
You acknowledge that staking involves material risks, including but not limited to:
Validator Slashing: Validators can be penalized for malicious behavior or failing to meet network requirements, reducing staked balances and rewards.
Variable Rewards: Rewards are not guaranteed and may be less than estimated historical rates.
Operational Risk: Gemini's infrastructure, validators, or custody mechanisms may fail, resulting in loss of funds.
Network Risk: Blockchain protocol changes or network disruptions may affect rewards or staked balances.
Liquidity Risk:In extreme withdrawal scenarios, liquidity may be constrained and withdrawal queuing may be implemented.
Slashing Compensation
In the event of a slashing penalty affecting Asset Rewards staked balances, Gemini will compensate affected customers for the net loss, except to the extent such loss results from:
(a) Your own actions or instructions, including improper account configuration or unauthorized third-party access;
(b) Scheduled or unscheduled network maintenance events;
(c) Software bugs, exploits, or hacks (unless Gemini is grossly negligent or acts with willful misconduct);
(d) Validator hacks or third-party attacks on validators;
(e) Force majeure or circumstances beyond Gemini's reasonable control.
Compensation is at Gemini's sole discretion and does not constitute a guarantee.
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Withdrawals and Liquidity
Withdrawal Rights
You may withdraw any balance at any time without restriction, lock-up period, or penalty. Withdrawal of an asset automatically removes it from Asset Rewards. Pending rewards earned before the withdrawal are still credited to your account.
Liquidity Management
Gemini manages Asset Rewards liquidity to support customer withdrawals through a combination of techniques including maintaining liquid reserves, adjusting staking targets, and invoking network unbonding periods as needed. Because Asset Rewards balances are not locked, customer redemptions can occur at any time. Gemini maintains reserves to accommodate redemptions, but the timing of unstaking from validators may range from 12 days to 2 months depending on network conditions. In such periods, Gemini may adjust the allocation between reserved (liquid) and staked balances to ensure sufficient liquidity for customer withdrawals. In extremely unlikely scenarios where withdrawal demand significantly exceeds available liquidity, Gemini may implement temporary withdrawal queuing with prompt notice. Queued withdrawals will be processed in the order received as liquidity becomes available.
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Fees and Commissions
No Enrollment, Transactional, or Exit Fees
Asset Rewards has no enrollment fee, transaction fee (for toggling on or off), or exit fee. You may enroll or disenroll free of charge.
Reward Commission
Gemini earns a commission of 30% of Gross Rewards. This is the only fee associated with Asset Rewards. Displayed APY rates reflect this commission and show your net estimated returns.
Commission Rate Changes
Gemini may modify the commission rate with 30 days' notice. If the commission is increased, you may opt out without penalty during the notice period.
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Taxes and Reporting
Taxable Events
Reward credits to your trading balance are taxable income events in most jurisdictions. Each credit triggers a taxable event for the amount credited. Credits may occur more than once per month depending on reward accumulation and the minimum threshold.
Tax Reporting
Gemini will provide annual tax reporting documentation summarizing all reward credits received during the calendar year, including dates, amounts, and fair-market values at the time of each credit.
Consultation
We encourage you to consult with a qualified tax professional regarding your specific tax obligations, as treatment may vary by jurisdiction and individual circumstances.
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Modifications, Suspension, and Termination
Right to Modify Terms
Gemini may modify these Program Terms, including Supported Assets, Per-User Caps, commission rates, crediting timing, or other terms with notice as follows:
Material changes reducing customer benefits (e.g., reducing estimated APY, increasing commission, reducing caps, extending payment delays): 30 days' notice. You may opt out free of charge during the notice period.
Immaterial changes, operational adjustments, or improvements: Effective upon posting.
Regulatory Changes: Changes in law, regulation, or regulatory interpretation (including the Digital Asset Market Clarity Act or similar legislation) could require Gemini to modify or discontinue Asset Rewards. Such changes will be effective immediately or as required by law, with prompt notice to customers. Gemini will comply with all applicable laws and regulations.
Right to Suspend
Gemini may suspend Asset Rewards or specific features for security threats, fraud concerns, operational or technical failures, regulatory issues, or market disruptions. Suspension will be accompanied by prompt notice, and enrolled customers will have their balances removed from the program with pending rewards credited.
Right to Terminate
Gemini may terminate Asset Rewards entirely with 60 days' notice for regulatory prohibition or material regulatory change, unmanageable operational or compliance burden, or force majeure or circumstances beyond Gemini's reasonable control.
Upon termination: (i) no new enrollments are accepted; (ii) existing enrolled balances are removed from the program; (iii) pending rewards are credited; and (iv) no further credits will occur.
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General Terms
These Program Terms are incorporated into and made part of your Gemini User Agreement and account agreements. In case of conflict between your User Agreement and these Program Terms, these Program Terms control on matters specific to Asset Rewards.
Governing Law and Dispute Resolution
These Program Terms are governed by the laws of the State of New York, as if this agreement is a contract wholly entered into and wholly performed within the State of New York. All orders, trades, deposits, withdrawals, or actions contemplated by these Program Terms shall be deemed to have occurred in the State of New York.
Any controversy, claim, or dispute arising out of or relating to these Program Terms or Asset Rewards shall be settled solely and exclusively by binding arbitration pursuant to the terms of your User Agreement(s).
No Financial Advice
Asset Rewards is a service offering, not investment advice, financial advice, or a recommendation. You are solely responsible for evaluating whether Asset Rewards is appropriate for your circumstances.
Warranties and Limitation of Liability
YOU ACKNOWLEDGE THAT ASSET REWARDS IS PROVIDED ON AN "AS IS" BASIS. YOU DISCLAIM ANY AND ALL EXPRESS OR IMPLIED WARRANTIES, INCLUDING ANY WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, OR NON-INFRINGEMENT. GEMINI DOES NOT GUARANTEE OR MAKE ANY WARRANTY CONCERNING THE ACCURACY OR RELIABILITY OF ASSET REWARDS, AND DISCLAIMS ANY AND ALL LIABILITY FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, OR CONSEQUENTIAL LOSS OR DAMAGE ARISING FROM ASSET REWARDS, REWARD CREDITS, OR STAKED DIGITAL ASSETS.
TO THE MAXIMUM EXTENT PERMITTED UNDER APPLICABLE LAW, GEMINI WILL HAVE NO LIABILITY UNDER THESE PROGRAM TERMS. THE WARRANTIES AND LIMITATIONS OF LIABILITY SET FORTH IN THIS SECTION ARE IN ADDITION TO, AND NOT IN PLACE OF, THOSE SET FORTH IN YOUR USER AGREEMENT.
Indemnification
You agree to indemnify and hold Gemini and all Gemini service providers harmless from or against any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses (including reasonable attorneys' fees), claims, or disbursements arising out of or relating to your use of Asset Rewards or otherwise arising under these Program Terms.
Entire Agreement
These Program Terms, together with your Gemini User Agreement and account agreements, constitute the entire agreement regarding Asset Rewards and supersede any prior discussions, negotiations, or representations.
Severability and Waiver
If any provision is found invalid or unenforceable, the remaining provisions remain in full force and effect. Failure to enforce any term does not constitute a waiver of that term.
Assignment and Third Parties
Gemini may assign these Program Terms or its rights and obligations to any successor or affiliate. You may not assign these Program Terms. These Program Terms do not create rights in any third party.
Notice
Notice to you may be provided via email, account message, or posting on the Gemini website. Notice to Gemini should be sent to legal@gemini.com.
Asset | Per-User Cap | Estimated Net APY (After 30% Commission) | Auto-Enrollment | Rewards Crediting |
|---|
SOL | 10,000 SOL | ~2.1% | At account activation* | Upon $1 threshold |
MON | 500,000 MON | ~6.3% | At account activation* | Upon $1 threshold |
ETH | 2,500 ETH | ~1% | At account activation* | Upon $1 threshold** |
At account activation*
Upon $1 threshold**
* Existing customers at launch had a 30-day opt-out window (ending [ORIGINAL DEADLINE]). New customers are auto-enrolled upon account activation and may opt out anytime. Residents of CA, IL, NJ, TX, WA, and MA must affirmatively opt in; NY residents are excluded.
** ETH rewards begin approximately 60 days after enrollment to allow validator activation queue clearance.
