Welcome to Gemini!
Welcome! Thanks for your interest in staking, an integral part of certain blockchains. You agree and understand that by accessing or using the staking service (“Staking”), you are agreeing to enter into this staking agreement (the “Staking Agreement”) by and between you and Gemini Intergalactic Australia, Pty Ltd (“GIAPL”), and be legally bound by its terms and conditions.
If any term or condition of this Staking Agreement is unacceptable to you, please do not use Staking. Use of the words “we,” “us,” or “our” in this Staking Agreement refers to GIAPL.
Using Staking
You agree and understand that this Staking Agreement is subject to the terms and conditions set forth in the and the (collectively, the “User Agreement”), which also govern this Staking Agreement. You further agree that the defined terms used in this Staking Agreement shall have the meanings set forth in your User Agreement.
Feel free to print and keep a copy of this Staking Agreement. We reserve the right to change any of these terms and conditions at any time. You agree and understand that by accessing or using Staking, following any change to this Staking Agreement, your access or use of Staking shall constitute your agreement to the amended Staking Agreement, and you agree to be legally bound by its terms and conditions as amended. If you do not agree to be bound by this Staking Agreement, you should not access or use Staking.
Permission
Subject to the terms and conditions set forth in this Staking Agreement, we hereby grant to you a non-assignable, non-exclusive, worldwide, and royalty-free limited license to use Staking. You may not use Staking if (i) you are not at least 18 years old and do not have the legal capacity to enter into this Staking Agreement, (ii) you are a person barred from using Staking under the applicable laws of Australia or other countries, including the country in which you are resident or from which you use Staking, and (iii) you do not agree to be legally bound by the terms and conditions of this Staking Agreement in their entirety.
Gemini Staking Services
Availability
When you hold certain Supported Digital Assets in your wallet you may be given the option to use Staking, which is GIAPL’s technology and administrative staking access service.
The Supported Digital Assets eligible for Staking are subject to change at any time.
The Service; Rewards; Commission; Limitations
If you instruct GIAPL to stake your assets, GIAPL will facilitate the staking of those assets on your behalf by providing you with access to validator nodes on applicable networks, streamlining and facilitating your participation in proof-of-stake or similar consensus mechanisms. GIAPL will only act on your instructions. You acknowledge and agree that once your assets are staked, those assets are subject to that Supported Digital Asset’s network and are no longer held by GIAPL or its affiliates. GIAPL and its affiliates do not custody or have control over those assets.
If a block of transactions in that Supported Digital Asset is successfully validated, you may earn a reward granted by that Supported Digital Asset’s network. The timing and amount of your reward will be determined by the protocols of the applicable network. GIAPL and its affiliates do not determine the timing or amount of your reward and have no control or influence over the protocols or any rewards received in connection with Staking. There may be a delay between when you choose to stake your Supported Digital Asset and when you start earning rewards because each network protocol’s activation queue determines when rewards start accruing.
GIAPL will distribute any earned rewards to you after receipt by GIAPL, minus a Staking Services Fee of 30% of the rewards determined by the protocol. You can view the protocol rewards from this FAQ page.
Some Digital Asset networks subject staked assets to “slashing” if the transaction validator representing those assets incorrectly validates a transaction. GIAPL does not control and cannot prevent slashing. In the event slashing occurs, your staked assets may be reduced in accordance with the protocol, and GIAPL is not able to replace, reimburse, or compensate you for any such reduction, except to the extent expressly stated in this Staking Agreement or your User Agreement.
Some Digital Asset Networks may impose a waiting period while staking, during which your staked assets will be restricted from transfer or sale (“Unbonding Period”). If you instruct GIAPL to unstake your assets, you will not have access to your assets until the expiration of any applicable Unbonding Period. An additional operational processing period may apply in order to facilitate transfer of your assets to your Gemini Account after the expiration of any applicable Unbonding Period. If rewards are received by GIAPL in connection with your staked assets during an Unbonding Period, GIAPL will credit these rewards to your Gemini Account.
No Guarantee of Rewards
You have no right to a reward until it is received by GIAPL. Rewards will be distributed to your Gemini Account promptly after they are received by GIAPL from the relevant protocol. Unless otherwise specified, the “staking rewards rate” disclosed by GIAPL for a particular Supported Digital Asset is an annualised historical rate based on the staking rewards received by GIAPL for that Supported Digital Asset over the last ninety (90) days. This rate is an estimate only for display purposes only on an “as is” basis and any actual staking rewards may vary. You acknowledge and agree that GIAPL does not guarantee, and is not responsible for, the accuracy, timeliness or completeness of such data. GIAPL DOES NOT GUARANTEE THAT YOU WILL RECEIVE ANY STAKING REWARDS, INCLUDING THE STAKING REWARDS RATES.
Governance and Voting
For certain Digital Assets, the underlying protocols offer stakers the ability to vote on matters related to the governance of protocol-level issues. GIAPL may or may not support voting for such assets in its absolute discretion.
User Acknowledgements
You acknowledge and agree that:
(a) GIAPL only provides you with a technology and administration service to enable staking.
(b) Staking is not an earn, investment or interest-bearing product. Your assets are used strictly for protocol staking in accordance with your instructions. GIAPL does not manage or otherwise use your assets. GIAPL does not deploy your assets for any other use including lending, exchange activity, or any off-protocol use. You do not intend for GIAPL to use your assets to generate a financial benefit or act as an investment for you.
(b) Staked assets may be held on an omnibus basis with those of other customers and may be commingled. In such a scenario, you would have no right to recover specific, identifiable assets; only an entitlement to the equivalent type and amount as released by the relevant protocol.
(c) GIAPL does not hold an Australian financial services licence and Staking is not a regulated financial product under Australian law.
(d) Nothing in this Staking Agreement is, or should be taken as, financial product or investment advice. Any information provided is general in nature and does not take into account a customer’s objectives, financial situation or needs.
(e) Blockchain protocols may change rules (including reward mechanics, slashing parameters, validator requirements or withdrawal processes) via governance or software updates, which can impact rewards and redemption timing or availability, sometimes with little or no notice. The blockchain protocols operate independently of GIAPL and its affiliates and your staked assets are subject to all rules and risks of the relevant blockchain protocol.
Suspension or Termination
You agree and understand that we may, in our sole discretion, change, suspend, discontinue, or terminate any aspect of Staking, or its availability to you, at any time and without notice.
Warranties and Limitation of Liability
You represent and warrant that you have the requisite authority to enter into this Staking Agreement according to its terms, and its performance does not violate any laws, regulations, or agreements applicable to you.
STAKING IS PROVIDED ON AN “AS IS” BASIS. YOU AND YOUR AFFILIATES DISCLAIM ANY AND ALL EXPRESS OR IMPLIED WARRANTIES, INCLUDING, ANY WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE OR USE, OR OF NON-INFRINGEMENT OR ANY OTHER VIOLATION OF ANY THIRD PARTY INTELLECTUAL PROPERTY RIGHTS. WE AND OUR AFFILIATES DO NOT GUARANTEE OR MAKE ANY WARRANTY CONCERNING THE ACCURACY OR RELIABILITY OF STAKING, AND DISCLAIM ANY AND ALL LIABILITY (WHETHER IN TORT OR CONTRACT OR OTHERWISE) FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, OR CONSEQUENTIAL LOSS OR DAMAGE ARISING FROM ANY DELAY OR LOSS OF ACCESS TO STAKING, OR OTHERWISE IN CONNECTION WITH STAKING, STAKING REWARDS, OR STAKED DIGITAL ASSETS.
TO THE MAXIMUM EXTENT PERMITTED UNDER APPLICABLE LAW, AND NOTWITHSTANDING ANY OF THE FOREGOING, WE WILL HAVE NO LIABILITY UNDER THIS STAKING AGREEMENT. FOR THE AVOIDANCE OF DOUBT, THE WARRANTIES AND LIMITATIONS OF LIABILITY SET FORTH IN THIS SECTION ARE IN ADDITION TO, AND NOT IN PLACE OF, THOSE SET FORTH IN THE USER AGREEMENT.
Indemnification
In no event shall GIAPL or any of its affiliates be liable for any act, omission, error of judgment, or loss suffered by you in connection with this Staking Agreement or your use or attempted use of Staking. You agree to indemnify and hold us and all our affiliates harmless from or against any or all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses (including reasonable attorneys’ fees), claims, disbursements or actions of any kind and injury (including death) arising out of or relating to your use of Staking or otherwise arising under this Staking Agreement.
English Language Controls
Notwithstanding any other provision of this User Agreement, any translation of this User Agreement is provided for your convenience. To the maximum extent permissible by applicable law, the meanings of terms, conditions, and representations herein are subject to their definitions and interpretations in the English language.
Governing Law
This Staking Agreement, your use of Staking, your rights and obligations, and all actions contemplated by, arising out of or related to this Staking Agreement shall be governed by the laws of New South Wales, Australia.
Dispute Resolution
You and GIAPL agree and understand that any controversy, claim, or dispute arising out of or relating to this Staking Agreement or Staking generally – past, present, or future – shall be settled solely and exclusively by binding arbitration pursuant to the terms of your User Agreement. A printed version of this Staking Agreement shall be admissible in judicial or administrative proceedings.
