STAKING RISK ACKNOWLEDGEMENT
Ethereum (ETH)
Prior to staking your crypto assets, you acknowledge that:
- (i) on September 15, 2022, the Ethereum Network transitioned from a “proof-of-work” protocol to a “proof-of-stake” protocol (the “Merge”) whereby the original execution layer of the Ethereum Mainnet was merged with Ethereum’s new proof-of-stake consensus layer, the Beacon Chain; (ii) the Merge upgrade did not include certain anticipated features such as the ability to withdraw staked ETH; (iii) the “Shanghai upgrade” is planned to follow the Merge, following which users will be able to withdraw staked ETH and rewards from the network; (iv) the Shanghai upgrade is anticipated to roll-out six to twelve months following the Merge; and (v) withdrawing staked ETH or rewards will not be supported by Bitbuy until the completion of the Shanghai upgrade;
- given the volatility of crypto assets, the value of your staked ETH when you sell or withdraw it, and the value of any rewards you earn through staking, may be significantly less than their current value;
- (i) Bitbuy’s custodian, BitGo, will be entitled to a fee in respect of rewards earned on your staked ETH 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 30% 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 or lock-up period, you will be able to hold, sell or withdraw your rewards;
- there is no guarantee that you will receive any rewards on staked ETH;
- past rewards are not indicative of expected future rewards;
- the rewards you are entitled to may be changed at the discretion of Bitbuy;
- you may lose all or a portion of your staked ETH if the validator does not perform as required by the network; and
Solana (SOL)
Prior to staking your crypto assets, you acknowledge that:
- (i) staked SOL generally begin to start earning rewards after one full epoch; (ii) staked SOL may only be withdrawn after the passing of one full epoch; and (iii) an epoch is approximately 2 days long;
- given the volatility of crypto assets, the value of your staked SOL when you sell or withdraw it, and the value of any rewards you earn through staking, may be significantly less than their current value;
- (i) Bitbuy’s custodian, BitGo, will be entitled to a fee in respect of rewards earned on your staked SOL 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 30% 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 or lock-up period, you will be able to hold, sell or withdraw your rewards;
- there is no guarantee that you will receive any rewards on staked SOL;
- past rewards are not indicative of expected future rewards;
- the rewards you are entitled to may be changed at the discretion of Bitbuy;
- you may lose all or a portion of your staked SOL if the validator does not perform as required by the network; and
Polkadot (DOT)
Prior to staking your crypto assets, you acknowledge that:
- you agree to be subject to an addendum to the terms and conditions of use of Bitbuy’s platform;
- (i) staked Polkadot tokens (DOT) generally begin to start earning rewards after one era; (ii) staked DOT may only be withdrawn after a 28-day unbonding period; and (iii) an era is approximately 24 hours long;
- given the volatility of crypto assets, the value of your staked DOT when you sell or withdraw it, and the value of any rewards you earn through staking, may be significantly less than their current value;
- (i) Bitbuy’s custodian, BitGo, will be entitled to a fee in respect of rewards earned on your staked DOT 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 30% 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 or lock-up period, you will be able to hold, sell or withdraw your rewards;
- there is no guarantee that you will receive any rewards on staked DOT;
- past rewards are not indicative of expected future rewards;
- the rewards you are entitled to may be changed at the discretion of Bitbuy;
- you may lose all or a portion of your staked DOT if the validator does not perform as required by the network; and
- additional risks can be found in the Risk Statement and the crypto asset statement for DOT, including the names and other information regarding the validators and information regarding lock-up periods and rewards.
Polygon (MATIC)
Prior to staking your crypto assets, you acknowledge that:
- any crypto assets you stake will be subject to the lock-up period set out in the crypto asset statement for MATIC [Staking Additional Terms], and, consequently, you may not be able to sell or withdraw your crypto assets for such period;
- given the volatility of crypto assets, the value of your staked crypto assets when you sell or withdraw them, and the value of any crypto assets you earn through staking, may be significantly less than their current value;
- there is no guarantee that you will receive any rewards on the staked crypto assets;
- past rewards are not indicative of expected future rewards;
- the rewards you are entitled to may be changed at the discretion of Bitbuy;
- you may lose all or a portion of your staked crypto assets if the validator does not perform as required by the network; and
Cardano (ADA)
Prior to staking your crypto assets, you acknowledge that:
- you agree to be subject to an addendum to the terms and conditions of use of Bitbuy’s platform;
- (i) staked ADA will generally begin to start earning rewards after the 5-epoch bonding period; (ii) staked ADA may be withdrawn at any time. An epoch is approximately 5 days;
- given the volatility of crypto assets, the value of your staked ADA when you sell or withdraw it, and the value of any rewards you earn through staking, may be significantly less than their
current value;
- (i) Bitbuy’s custodian, BitGo, will be entitled to a fee in respect of rewards earned on your staked ADA 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 30% 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, you will be able to hold, sell or withdraw your rewards;
- there is no guarantee that you will receive any rewards on staked ADA;
- past rewards are not indicative of expected future rewards;
- the rewards you are entitled to may be changed at the discretion of Bitbuy;
- you may not receive rewards for your staked ADA if the staking pool does not perform as required by the network; and
- additional risks can be found in the Risk Statement.
NEAR Protocol (NEAR)
Prior to staking your crypto assets, you acknowledge that:
- you agree to be subject to an addendum to the terms and conditions of use of Bitbuy’s platform;
- (i) staked NEAR tokens (NEAR) generally begin to start earning rewards after one epoch; (ii) staked NEAR may only be withdrawn after a 3 or 4 epoch period; and (iii) an epoch is approximately 12 hours long;
- given the volatility of crypto assets, the value of your staked NEAR when you sell or withdraw it, and the value of any rewards you earn through staking, may be significantly less than their current value;
- (i) Bitbuy’s custodian, BitGo, will be entitled to a fee in respect of rewards earned on your staked NEAR 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 28% 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 or lock-up period, you will be able to hold, sell or withdraw your rewards;
- there is no guarantee that you will receive any rewards on staked NEAR;
- past rewards are not indicative of expected future rewards;
- the rewards you are entitled to may be changed at the discretion of Bitbuy;
- you may lose all or a portion of your staked NEAR if the validator does not perform as required by the network; and
- additional risks can be found in the Risk Statement and the crypto asset statement for NEAR, including the names and other information regarding the validators and information regarding lock-up periods and rewards.
Cosmos (ATOM)
Prior to staking your crypto assets, you acknowledge that:
- you agree to be subject to an addendum to the terms and conditions of use of Bitbuy’s platform;
- (i) staked Cosmos tokens (ATOM) generally begin to start earning rewards after one block or round; (ii) staked ATOM may only be withdrawn after a 21-day unbonding period.
- given the volatility of crypto assets, the value of your staked ATOM when you sell or withdraw it, and the value of any rewards you earn through staking, may be significantly less than their current value;
- (i) Bitbuy’s custodian, BitGo, will be entitled to a fee in respect of rewards earned on your staked ATOM 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 28% 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 or lock-up period, you will be able to hold, sell or withdraw your rewards;
- there is no guarantee that you will receive any rewards on staked ATOM;
- past rewards are not indicative of expected future rewards;
- the rewards you are entitled to may be changed at the discretion of Bitbuy;
- you may lose all or a portion of your staked ATOM if the validator does not perform as required by the network; and
- additional risks can be found in the Risk Statement and the crypto asset statement for ATOM, including the names and other information regarding the validators and information regarding lock-up periods and rewards.
