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Staking Agreement

Last updated: May 18, 2023

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 Gemini Trust Company, LLC’s staking service (“Staking”), you are agreeing to enter into this staking agreement (the “Staking Agreement”) by and between you and Gemini Trust Company, LLC (“Gemini”), and be legally bound by its terms and conditions, so please read them carefully. Please also note that there may be specific terms or conditions applicable to you as a user in a given jurisdiction, as detailed herein. If any term or condition of this Staking Agreement is unacceptable to you, please do not use the Staking service. Use of the words “we,” “us,” or “our” in this Staking Agreement refers to Gemini.

Using Staking

You agree and understand that this Staking Agreement is subject to the terms and conditions set forth in your User Agreement(s), which also govern this Staking Agreement. In case of conflict, the User Agreement(s) shall control. You further agree and understand that the defined terms used in this Staking Agreement, if defined in your User Agreement(s), shall have the meanings set forth in your User Agreement(s). Your use of our Staking service must comply with your User Agreement(s).
Feel free to print and keep a copy of this Staking Agreement, but please understand that we reserve the right to change any of these terms and conditions at any time. But don’t worry, you can always find the latest version of this Staking Agreement here on this page.
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. You should, therefore, read this Staking Agreement from time to time. 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 our Staking service. You may not use the Staking service 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 the United States 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 “stake” these assets in a proof of stake network via staking services provided by Gemini or a third-party service provider (“Staking Services Provider”). Please visit our staking information page [https://support.gemini.com/hc/en-us/articles/7329954040731-What-is-Gemini-Staking-] for further details on how proof of stake works. Gemini Staking Services are not currently available to New York customers or customers in certain other jurisdictions.
The Supported Digital Assets eligible for staking services are subject to change at any time.  Staked assets are not subject to the protections of the Federal Deposit Insurance Corporation (“FDIC”), the Securities Investor Protection Corporation, the UK Financial Ombudsman Services, or any other similar protections.
The Service; Rewards; Services Fee; Limitations
If you instruct Gemini to stake your assets, Gemini or a Staking Services Provider will facilitate the staking of those assets on your behalf by acting as a transaction validator on the applicable network for the Supported Digital Asset you stake. 
If Gemini or the Staking Services Provider successfully validates a block of transactions in that Supported Digital Asset, you will 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. Gemini does not determine the timing or amount of your reward. There may be a delay between when you choose to stake your Supported Digital Asset and when you start owing rewards because each network protocol’s activation queue determines when rewards start accruing. 
Gemini will distribute any earned rewards to you after receipt by Gemini, minus a Staking Services Fee of 15% of the rewards determined by the protocol. Some of the Staking Services Fee is used to pay ‘gas’ fees, third party fees, and infrastructure costs associated with staking and the remainder is retained by Gemini. 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. Gemini and/or the Staking Services Provider will use commercially reasonable efforts to prevent any staked assets from slashing; however, in the event they are, unless otherwise provided in this Staking Agreement or your User Agreement, Gemini will promptly replace your assets at no additional cost. For the avoidance of doubt, Gemini will not replace assets subject to slashing as a result of network, network provider, or operator errors, or any other basis covered by this Staking Agreement or in the Disclaimer of Liability or Force Majeure sections of 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 Gemini to unstake your assets, you will not have access to your assets until the expiration of any applicable Unbonding Period.  Gemini may also impose an additional waiting period in order to facilitate transfer of your assets to your Gemini Account after the expiration of any applicable Unbonding Period.  If rewards are collected on your staked assets during an Unbonding Period, Gemini will credit these rewards to your Gemini Account.
No Guarantee of Rewards
You have no right to a reward until it is received by Gemini. Rewards will be distributed to your Gemini Account promptly after they are received by Gemini from the relevant protocol. Unless otherwise specified, the “staking rewards rate” disclosed by Gemini for a particular Supported Digital Asset (on this webpage) is an annualized historical rate based on the staking rewards generated by Gemini and/or the Staking Services Provider in providing staking services to Gemini customers for that Supported Digital Asset over the last ninety (90) days. This rate is an estimate and may change over time. GEMINI 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. Gemini may or may not support voting for such assets, and may cease supporting voting at any time in its discretion. In certain cases, Gemini may vote on your behalf where Gemini or the applicable protocol does not support delegated voting. In such instances, Gemini will vote in favor of the decision that it believes supports the most use cases for Gemini users.

Suspension or Termination

You agree and understand that we may, in our sole discretion, change, suspend, discontinue, or terminate any aspect of our Staking service, 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.
THE STAKING SERVICE 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 THE STAKING SERVICE, 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 THE STAKING SERVICE, OR OTHERWISE IN CONNECTION WITH THE STAKING SERVICE, 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 Gemini 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 the Staking service. You agree to indemnify and hold us and all Gemini Service Providers 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 the Staking service or otherwise arising under this Staking Agreement.

General

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 the State of New York, as if this User Agreement is a contract wholly entered into and wholly performed within the State of New York. YOU AGREE THAT ALL ORDERS, TRADES, DEPOSITS, WITHDRAWALS, OR SALES ON GEMINI AND CONTEMPLATED ACCORDING TO THE TERMS OF THIS STAKING AGREEMENT SHALL BE DEEMED TO HAVE OCCURRED IN THE STATE OF NEW YORK AND BE SUBJECT TO THE INTERNAL LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO ITS CONFLICTS OF LAWS PROVISIONS.
Dispute Resolution
You and Gemini 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(s).
A printed version of this Staking Agreement shall be admissible in judicial or administrative proceedings.

Questions, Feedback, and Complaints

If you have any questions, would like to provide feedback, or would like more information about Gemini, please feel free to reach out or visit our Help Center. 
If you would like to lodge a complaint, please contact Gemini Trust Company, LLC’s Customer Support Team using one of the following methods:
  • Contact our customer support team by visiting our Help Center. 
  • Write to Customer Support at: Gemini Trust Company, LLC, 600 Third Avenue, 2nd Floor, New York, NY 10016; or 
  • Call Customer Support at +1 (866) 240-5113 (toll-free in the USA).

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