These Additional Terms supplement the terms and conditions of your access and use of the proprietary crypto trading platform (the “Platform”) operated by Bitbuy Technologies Inc. (“Bitbuy”) published at Bitbuy’s website at: https://bitbuy.ca/en/terms/ (the “Terms”).
Rewards earned in connection with staking ether (“ETH”) are subject to a Bitbuy Service Fees of 25.00%.
In connection with Staking Services provided to you by Bitbuy pursuant to the Terms and the Staking Addendum, you acknowledge and agree that:
(i) On September 15, 2022, the Ethereum Network transitioned from a “proof-of-work” (“PoW”) protocol to a “proof-of-stake” (“PoS”) protocol (the “Merge”) whereby the original execution layer of the Ethereum Mainnet (the “Mainnet”) was merged with Ethereum’s new PoS consensus layer, the Beacon Chain.
(ii) The Merge upgrade did not include certain anticipated features (such as the ability to withdraw stakedETH). The “Shanghai upgrade” is planned to follow the Merge. After the completion of the Shanghai upgrade, ETH holders will be able to withdraw stakedETH and rewards from the network. The Shanghai upgrade is anticipated to roll-out six to 12 months following the Merge. However, this may change, and unforeseen circumstances could delay the Shanghai upgrade. Moreover, it is possible that issues may arise during the Shanghai upgrade that could result in a partial or complete loss of staked ETH. The mechanics of how total deposits and accrued rewards will be withdrawn from a validator are still under development.
(iii) Once staking is initiated, a validator enters a queue to become “activated” which takes approximately 7.5 hours. Once initiated, the network acknowledges the ETH to be deposited to the staking smart contract. Once completed, the ETH deposit is officially accessible to the Beacon Chain and remains in a “pending state” until activated. Since only four validators are activated per epoch, activation may take days or even weeks to complete. Once activated, the validator begins accruing rewards for securing the network. You will not earn rewards until the Delegated Crypto Assets are activated and Bitbuy actually receives rewards on your behalf. When rewards are received by Bitbuy, Bitbuy will periodically provide statements to users indicating the amount of the rewards that the user is entitled to as well as the total rewards that were earned and any fees payable.
(iv) Withdrawing staked ETH or rewards from a validator is not supported until the completion of the Shanghai upgrade. Once the Shanghai upgrade is completed, it will be possible to withdraw all or some of one’s stake (“unbonding”). Similar to the activation of a validator, a queue will be formed for users attempting to unbond their stake and withdraw their assets. This queue is estimated to consist of 6 validators per epoch.
(v) Bitbuy will not make payments of any Missed Reward that may occur in connection with staking ETH.
(vi) With respect to any rewards earned on your staked ETH: (i) Bitbuy’s custodian, BitGo, will be entitled to afee and may pay a portion of that fee to any third-party service provider it selects to act as validator; (ii) any remaining portion of the rewards (the “Net Rewards”) will be delivered to one of Bitbuy’s custodial wallets with BitGo;(iii) Bitbuy will be entitled to a fee of 25% in respect of the Net Rewards(the “Bitbuy Service Fee”); and (iv) after the Bitbuy Service Fee has been paid, your account will be credited with any remaining portion of the rewards, and, subject to any unbonding, lock-up or cooling-down period, you will be able to hold, sell or withdraw your rewards.
(vii) These Additional Staking Terms may be amended by Bitbuy at any time in its sole discretion.
Rewards earned in connection with staking SOL, the native token of the Solana Network, are subject to a Bitbuy Service Fee of 25.00%.
In connection with Staking Services provided to you by Bitbuy pursuant to the Terms and the Staking Addendum, you acknowledge and agree that:
(i) When you delegate or un-delegate SOL, the delegated SOL does not change state immediately. Newly delegated tokens are considered “activating”or “warming up” and are not eligible to earn rewards until they are fully activated. Newly un-delegated tokens are considered “deactivating” or “cooling down” and are not able to be withdrawn until deactivated. The Solana Network only allows tokens to finish changing state at the beginning of a new epoch (as described below). Bitbuy may, in its sole discretion, allow users to withdraw up to an equivalent amount of SOL as such user then holds in the cooling down period, prior to such SOL having fully transitioned states.
(ii) The Solana Network uses a “leader schedule” to determine which validator is responsible for appending transactions to the Solana ledger at any given time. Each epoch, which is the period of time during which a leader schedule is valid on the Solana protocol, lasts roughly two days.
(iii) The Solana Network computes and distributes staking rewards once per epoch. If a reward is accrued in a given epoch, it will be issued in the first block of the following epoch. When rewards are received by Bitbuy, Bitbuy will provide statements to users indicating the amount of the rewards that the user is entitled to as well as the total rewards that were earned and any fees payable. For each epoch, your share of SOL rewards is proportionate to the amount of SOL that you had staked when the epoch began.
(iv) With respect to any rewards earned on your staked SOL: (i) Bitbuy’s custodian, BitGo, will be entitled to afee and may pay a portion of that fee to any third-party service provider it selects to act as validator; (ii) any remaining portion of the rewards (the “NetRewards”) will be delivered to one of Bitbuy’s custodial wallets withBitGo; (iii) Bitbuy will be entitled to a fee of 25% in respect of the NetRewards (the “Bitbuy Service Fee”); and (iv) after the Bitbuy ServiceFee has been paid, your account will be credited with any remaining portion of the rewards, and, subject to any unbonding, lock-up or cooling-down period, you will be able to hold, sell or withdraw your rewards.
(v) These Additional Staking Terms may be amended by Bitbuy at any time in its sole discretion.
Rewards earned in connection with staking Polygon MATIC tokens (“MATIC”) are subject to Bitbuy Services Fees of 25.00%.
In connection with Staking Services provided to you by Bitbuy pursuant to the Terms and the Staking Addendum, you acknowledge and agree that:
(i) When you stake MATIC through the Services, you are delegating your tokens to a validator that is staking them on the Ethereum Mainnet network. Once your MATIC is staked, you will receive staking rewards upon the completion of each successful checkpoint submission. Checkpoints are submitted roughly every half hour but can be delayed due to congestion on the Ethereum Mainnet network. The percentage for the rewards distributed to you after each submitted checkpoint depends on your relative delegated stake with the validator, and the total amount of MATIC staked. Distributed awards may be sent to an Ethereum address or redelegated to a validator to increase your staked MATIC amount.
(ii) If a reward is accrued after a checkpoint, it will be issued in the first block following the checkpoint submission. When rewards are received by Bitbuy, Bitbuy will provide statements to users indicating the amount of the rewards that the user is entitled to as well as the total rewards that were earned and any fees payable. For each successful checkpoint submission, your share of MATIC rewards is proportionate to the amount of MATIC that you had staked when the submission occurred.
(iii) You may unbond (withdraw) any or all of your staked MATIC at any time. Once you unbond your staked MATIC, this will withdraw your rewards and staked MATIC from the validator, and you will stop receiving rewards. Your withdrawn tokens will be locked by the validator during the Unbonding Period. Bitbuy may, in its sole discretion, allow users to withdraw up to an equivalent amount of MATIC as such user then holds during the Unbonding Period, prior to such MATIC having been fully unbonded.
(iv) With respect to any rewards earned on your staked MATIC: (i) Bitbuy’s custodian, BitGo, will be entitled to a fee and may pay a portion of that fee to any third-party service provider it selects to act as validator; (ii) any remaining portion of the rewards (the “Net Rewards”) will be delivered to one of Bitbuy’s custodial wallets with BitGo; (iii) Bitbuy will be entitled to a fee of 25% in respect of the Net Rewards (the “Bitbuy Services Fees”); and (iv) after the Bitbuy Services Fees have been paid, your account will be credited with any remaining portion of the rewards, and, subject to any unbonding, lock-up or cooling-down period, you will be able to hold, sell or withdraw your rewards.
(v) These Additional Staking Terms may be amended by Bitbuy at any time in its sole discretion.
“Unbonding Period” is the designated amount of time, set by the protocol, that a delegator must wait before receiving access to withdrawn tokens. For MATIC, the unbonding period is 80 epochs, which currently equals 1.5 – 2 days. This occurs to prevent malicious behaviour on the network.
Rewards earned in connection with staking DOT, the native token of the Polkadot blockchain, are subject to a Bitbuy Service Fee of 28.00%.
In connection with Staking Services provided to you by Bitbuy pursuant to the Terms and the Staking Addendum, you acknowledge and agree that:
(i) When you stake DOT through theServices, you are nominating your tokens to a validator that is staking them on the Polkadot blockchain. Once your DOT is staked, you will receive staking reward upon the completion of each era. Validators are paid proportionally for the era points they earned during the previous era. Era points are earned for several payable actions including issuing validity statements for parachain blocks and producing non-uncle blocks in the Relay Chain. The percentage for the rewards distributed to you after each era depends on your relative nominated stake with the validator, and the number of era points earned by the validator. Distributed awards may be sent to a Polkadot address or nominated to a validator to increase your staked DOT amount.
(ii) If a reward is accrued at the end of an era, it will be paid upon the completion of the era. When rewards are received by Bitbuy, Bitbuy will provide statements to users indicating the amount of the rewards that the user is entitled to as well as the total rewards that were earned and any fees payable.For each successful era, your share of DOT rewards is proportionate to the amount of DOT that you had staked during the era.
(iii) You may unbond (withdraw) any or all of your staked DOT at any time. Once you unbond your staked DOT, this will withdraw your rewards and staked DOT from the validator, and you will stop receiving rewards. Your withdrawn tokens will be locked by the validator during the Unbonding Period. Bitbuy may, in its sole discretion, allow users to withdraw up to an equivalent amount of DOT as such user then holds during the Unbonding Period, prior to such DOT having been fully unbonded.
(iv) With respect to any rewards earned on your staked DOT: (i) Bitbuy’s custodian, BitGo, will be entitled to afee and may pay a portion of that fee to any third-party service provider itselects to act as validator; (ii) any remaining portion of the rewards (the “NetRewards”) will be delivered to one of Bitbuy’s custodial wallets withBitGo; (iii) Bitbuy will be entitled to a fee of 28% in respect of the NetRewards (the “Bitbuy Services Fees”); and (iv) after the Bitbuy ServicesFees have been paid, your account will be credited with any remaining portion of the rewards, and, subject to any unbonding, lock-up or cooling-down period, youwill be able to hold, sell or withdraw your rewards.
(v) These Additional Staking Terms may be amended by Bitbuy at any time inits sole discretion.
“Unbonding Period” is the designated a mount of time, set by the protocol, that a nominator must wait before receiving access to withdrawn tokens. For DOT, the unbonding period is 28 eras, which currently equals 28 days. This occurs to prevent malicious behaviour on the network.
Rewards earned in connection with staking ADA, the native token of the Cardano network, are subject to a Bitbuy Service Fee of 28.00%.
In connection with Staking Services provided to you by Bitbuy pursuant to the Terms and the Staking Addendum, you acknowledge and agree that:
(i) When you stake ADA through theServices, you are delegating your tokens to a stake pool that is staking them on the Cardano network. Once your ADA is staked, it will enter a bonding period lasting 5 epochs (an epoch is roughly 5 days). You will receive staking rewards upon the completion of each epoch (roughly 5 days) following the boding period.Stake pools receive staking rewards earned during the previously completed epoch. Staking rewards are earned for block production and funded by transaction fees collected during the previously completed epoch. The percentage for the rewards distributed to you after each epoch depends on your relative delegated stake with the stake pool, and the number of staking rewards earned by the stake pool. Staking rewards earned may be sent to an external addressor delegated to a validator to increase your staked ADA amount.
(ii) If a staking reward is accrued at the end of an epoch, it will be paid upon the completion of the first block following the epoch. When rewards are received by Bitbuy, Bitbuy will provide statements to users indicating the amount of the rewards that the user is entitled to as well as the total rewards that were earned and any fees payable. For each epoch, your share of ADA rewards is proportionate to the amount of ADA that you had staked with the stake pool during the epoch.
(iii) You may withdraw any or all of your staked ADA at any time. Once you withdraw your staked ADA, this will withdraw your staking rewards and staked ADA from the stake pool, and you will stop receiving rewards. You may withdraw your staked ADA tokens immediately. Bitbuy may, in its sole discretion, allow users to withdraw up to an equivalent amount of ADA as such user then holds, prior to such ADA having been fully withdrawn.
(iv) With respect to any staking rewards earned on your staked ADA: (i) Bitbuy’s custodian, BitGo, will be entitled to a fee and may pay a portion of that fee to any third-party service provider it selects to act as validator; (ii) any remaining portion of the staking rewards (the “Net Rewards”) will be delivered to one of Bitbuy’s custodial wallets with BitGo; (iii) Bitbuy will be entitled to a fee of 28% in respect of the NetRewards (the “Bitbuy Services Fees”); and (iv) after the Bitbuy Services Fees have been paid, your account will be credited with any remaining portion of the rewards, and, subject to any un-delegating, lock-up or cooling-down period, you will be able to hold, sell or withdraw your rewards.
(v) These Additional Staking Terms may be amended by Bitbuy at any time inits sole discretion.
Rewards earned in connection with staking ATOM, the native token of the Cosmos network, are subject to a Bitbuy Service Fee of 28.00%.
In connection with Staking Services provided to you by Bitbuy pursuant to the Terms and the Staking Addendum, you acknowledge and agree that:
Rewards earned in connection with staking NEAR, the native token of the NEAR blockchain, are subject to a Bitbuy Service Fee of 25.00%.
In connection with Staking Services provided to you by Bitbuy pursuant to the Terms and the Staking Addendum, you acknowledge and agree that:
Glossary
“Unbonding Period” is the designated amount of time, set by the protocol, that a nominator must wait before receiving access to withdrawn tokens. For NEAR, the unbonding period is roughly 3 to 4 epochs, which currently equals 1.5 to 2 days. This occurs to prevent malicious behaviour on the network.
Rewards earned in connection with staking TIA, the native token of Celestia, are subject to a Bitbuy Service Fee of up to 30.00%.
In connection with Staking Services provided to you by Bitbuy pursuant to the Terms and the Staking Addendum, you acknowledge and agree that:
Glossary
“Unbonding Period” is the designated amount of time, set by the protocol, that a nominator must wait before receiving access to withdrawn tokens. For TIA, the unbonding period is 21 days. This occurs to prevent malicious behaviour on the network.
